some dollars the world's counting body is urging south korea to cut short the will scout jammed the rate because of a heat wave. thousands of vs scouts of already started leaving the coastal campsite and one and moving to nearby hotels for the 600 scouts has suffered hate related illnesses temperatures. they have sold to 38 degrees, the hello again. i'm elizabeth for autumn and don't have a detailed stories on algebra. bach hassan form upon minnesota, and ron con, has been arrested in the hall. the court has sent him some an app sent you to 3 years in prison for legally selling states. guests. legal experts have the conviction may and calls chances of funding and national elections that have to be held before november. come on high that has the latest from islamic, but they really did challenge days. and i'd really be important to see whether he's

going to get relief that he had been given renewed by the courts and the par. uh so it would be important to see, but he has so many other cases against him, the government and the domain that they should be neutralized because it amends the biggest challenge through this quite a nation government richard, being ruling focused on the french foreign minister, has said false will, firmly supported efforts by the west african regional block echo was to make the military coup in new shift food. the regions defense ministers have drawn up a plan for possible military intervention. russian officials say one of the oil tag cause has been hit, and they do craney enjoying attacking the black sea. they said the vessels engine room was damaged, but no one was heard. it supposedly happened south of a bridge that and things rushed to crimea. officials and ukraine haven't commented to the russian opposition due to alexi and a volley has been sentenced to an additional 19 years in prison on charges of

extremism. the volley is a critic of president putin as his campaign against corruption and the crime. and since 2011 popular us live stream, a kind of set out has been charged with and fighting a riot. this also has promised a free game and consults to send it in to may him and a busy area of new york city. saudi arabia is advising its citizens to leave lebanon quickly and avoid areas sing complex. the u. k has also updated its travel advice for 11 advising against old, but essential travel deposits of lebanon, south need the i'm out of had way refugee can. that's a viable palestinian factions, have been fighting. those are the headlines on elders era. you can always keep up to date with all the news on our website that said, i will just see you at dot com, stay tuned. accounting, the cost is coming up next. thank you for watching. so the great thing about being and use presenter internet both like i and 0 is that it's a truly global operation. if you will, challenges here, you'll see news from parts of the world that other networks just don't come up.

you're getting a truly global perspective. we have an extensive network of bureaus around the world. we have many, many correspondents in corners of the globe. if you really want to know what's happening in the world right now, you need to be watching out just here. the i'm, adrian said again, and this is counting the cost on i would just say, are you a we can look at the world of business and economics this week, taking the chip pull up a notch by ging has started to restrict the expos up to materials used in the manufacturing of semi conductors. also this we economic sanctions at a hope to aid after a ministry to initiate millions of people. and one of the world's poor stations

could pay the price of egypt is trying to new dollars back into its financial system. with higher returns on savings, will bank help to ease the nation's foreign currency crunch? they are used in everything from electric cars to tvs, wind turbines, and military hardware. semi conduct is now considered as crucial to economic production. as oil in the us is why the china could use us chip technology to further develop its military power up it on fail. sweeping export controls in october to prevent paging from getting the most advanced. one step marked the start of tit for tat trade restrictions and up to the geo political rivalry. and it's most recent. both china has begun to restrict the export of industry critical materials. i'll just say, what is the training? he reports from paging. the staging market sells nearly every electronic

product you can think of and many of them contain gallium. enter medium room materials. critical for the development of semi conduct as china is the world's largest supply of both informed by as will now have to apply for licenses to purchase them. the seller says the move is there is a ride. the china has this restriction. we don't have counter measures. america will continue to pull sanctions on china. china should evaluate on taking all the to foster to make our country strong to the export control is bathing is response to wide range and us restrictions targeting chinese technology funds. the price of these room materials has arisen in recent weeks, chinese and or a say aging is sending a warning to the united states, but putting export controls in germanium gallium. and this could just see the beginning of restrictions. some of the critical materials multinational companies

say they're being quote in the geo political crossfire between the 2 superpowers, business confidence has eroded automakers, all particularly concerned. many funds are being forced to separate supply chains which is hurting the bottom line. one is adapted to that. the most of the adult a just kind of for china, we're losing this to us. it makes sense. ready the vice duplications are expensive, implies that need to have a certain volume in order to be completely from china. when you find most affordable options. a lot i people who are on the locally, which can be expensive. so, so that there's additional bibles for which it is concerning. plus some european funds are exploring. non chinese sources of will materials in case of an escalation isn't 70. there's a freak about it. um, does it need risk,

any uncertainties look good for business? it means that the best one says, you know, some prime and decisions they, they are going to be affected by aging system move, protects. china is national security and does not target any 3rd party. to me, i also see it is an international practice to implement the export control of gallium editor, manian related items. these items are commonly controlled by major countries in the world. but still media say the us as defense industry is likely to suffer germanium and gallium. i use in adults radar systems, warships and ground installations. washington says it also wants to keep american technology out of reach of china is forces. where is the and import us is inc and insistent at the china is the threat they're trying to contain it. we're saying we're not going to let you have quote, our technology,

but it's not just us technology. they're also going to japan, they're going to holland and saying don't sell china any equipment in 2010 trying to impose the bad on. also, cold ret are of exports to depend after a dispute sparked by a boozing collision. if they didn't choose to implement the the controls, the price of helpless devices including smartphones, laptops and solar panels could rise. katrina, you the counting, the cost aging. joining us now from seattle is alex car pretty, who's seen the electra at the national university of single pool business school. good to see you again alex. so the export controls on these, these 2 red minerals, gallium and germanium of come into effect. what's going to be the impact on markets and companies that need these, these materials? well, 1st of all, they're actually not that rare. you know, they're, they're, there are alternate sources um, now initially,

because so much of this processing is taking place in china. so the, the initial reaction from the markets will be, of course, a spike in price. but it's also going to trigger a move towards accelerated di risking from the supply chains. it's going to spark um, alternative processing and sourcing and in, in, in other parts of the world. so i think, i think short term there could be an impact, but mid to long term we will see the supply chains correct themselves. so this could in a, in a way backfire for china. oh, no, absolutely. and i think the 4 runner to this event happened 10 years ago when we looked at, at various when, when china effectively cut off and, and also impose controls on rivers to a lot of the western countries. so,

so that was 10 years ago when china controlled about 98 percent of so called rare minerals, which again are not that rare. but now if we fast forward a decade, that china's percentage of, of that market has dropped from about 98 percent back in 2010 to somewhere in the mid 60 percentiles. and also, uh, you know, we're seeing the d risking and we're seeing accelerated. um, uh, you know, spreading of, of, of the, of the new assets and, and the processes around the world. so this is only going to further accelerate. this is this restructuring, if you will, even even a friend shoring, as some people have described it when it comes to looking for new. now she's looking for this new sources, but setting up the processing in places like australia, canada, united states, even europe is now shifting. okay, what about looking at the, the, the,

the other way up to the export controls imposed by, by the us. is that a way for china to get around those? well, you know, this is, we're obviously in, in a new era and, and we're recovering relatively new territory when it comes to this, this, this, this reorganization, if you will, of, of key technology supply chains at the bottom end, which, which of course includes 70 conductors and then also the supply chain at the top end, which includes these, these, these minerals and these critical minerals and rares that we've been talking about . but for the us, uh, the us is in a much stronger position along with its, with its allies, and particularly the group of 5 countries in, in the semi conductor value chain, which of course would be japan, south korea, taiwan us and the netherlands. um so, so the,

the power structure in that regard is much more asymmetric when it comes to the us and its allies versus china's ability to throw its weight around if you will. but to what extent is this a buying time game by the us? and there's no way ultimately that it's gonna preserve its technological privacy in the long term. is that as well? i think it's, it's, it's a, it's a matter of a couple of things. the 1st is, yes it's, it's a, it's a stalling tactic. it's, it's a way of essentially slowing down china's capabilities when it comes to leading edge technologies and the around the dual use technologies. these are to, of course, technologies that are commercial but can be applied for military purposes. at the same time, what we're seeing is a, a re focusing if you will, in the us and other countries around innovation for capitalism. if you will, us,

we're pushing their own capabilities and trying to push their lead out. but yes of, uh, you know, ultimately, and particularly around the trailing edge uh, and of the uh, of the value chain. when it comes to sending you doctors, we will see china eventually be able to, to really capture parts of that market. in the meantime, we've got this, what this results nationalism going on right now, where with, where does it in the tit for tat con, continue forever. are kind of somehow this has got to be solved but how? well, i, you know, i, i think the way it ends, you know, if we look, if we look at mid term, um, you know, in the end of the next 5 years, you know, what we'll see is a continuation of what we're seeing now. and that is essentially bifurcation of strategic supply chains such as we've been discussing and you know,

an ongoing trade in ongoing commerce around the less strategic, less sensitive areas. and in the long term you were talking 10 years from now. we're going to have a relatively fragmented localized or regionalized set of strategic eco systems that are going to be in place uh, whether it's in north america, europe, china, and, or other parts of the world. it's always good to talk to you alex, manufacture date for being with us again. a pleasure. thanks. adrian. now does. yeah. is one of the was porous nations. it relies heavily on phone financial help, but much of the age sent by west of nations has been suspended following a military coup last week. the economics community of west african states echo was as imposed far reaching sanctions, including the hold of all financial transactions and the freeze on national assets

. it's also threatened on the dimension to restore order. many people, india, fear, the measures could weston that already done. economic situation. here's what some of them have to say. the citizen shows the, the was from the show. i think the sanctions were initially taken in the heat of the moment and then apparently evicted by outside powers. you know, molly burkina, faso and guinea face the same situation before, but they haven't been sent you and have a license. but in these areas are going to have to tighten their belts. we will not get any port that we have been in 13 years. we haven't receive a single frank from our oil. we've been told it's worthless. the risk tundra, the correct functions were expected. because i believe that across is often taken sanctions against q leaders in its area. but these sanctions turned out not to be very heavy. in fact, in the case of news, yeah, i think we're really going to suffer economically. it's going to be a very difficult time for the country. joining us not from london,

it's alex vines. he's the director of africa program with the managing director of ethics, risk and resilience at to try some house. good. have you with us again, alex and what sort of state is this? is economy right now and is your economy is incredibly vulnerable. as you've mentioned, it's very dependent on international assistance around $2000000000.00. it. yeah, we've outs it. it's really in trouble. the economy is based on rang fed hyper culture that depends on variable rang buttons in particular production and coughing, for example, and various products. and then it is a uranium produce a 5 percent of the level supply comes from you have from these. yeah, but it's very easy for international markets to, to switch to catholic style in canada, even though maybe a so, and then there's a bit of oil production. most of the mainstays of the economy as reset and the shares of where the one of the poor us nations on the planet how are sanctions and restrictions on age go to woodson,

the plants of its people. yeah. so it's interesting that a couple of days ago the other military jumps has in the regions that, that they wouldn't um, you know, they stood in solidarity with, with, with the military juncture in, in, in the, i mean, it was striking also that the newton is here in that jump to i think it's borders with books, you know fast. so molly, um and uh, and algeria and also charge only is a border with nigeria remains close, which of course is the one that, that, that the jumped already worries about. because i, nigeria represents the biggest military power in west africa and also present to new booth. the president of nigeria is the chair vehicle watson is the one that says top functions are happening. and if you don't release mr. presume and return constitutional rule. we've been a week, we have very seriously considering military action against you. but of this

sanctions only got us of to push this. yeah. close to the most go. i mean, the frontage of demonstrations and support of the purchase has had individual brandishing russian flags and, and, you know, shopping, you know, long they've rusher and so on. i, i have seen that as necessarily indicative of a great ground spell the support of russia. but it does exemplify the ambivalence towards frost. so using symbols or rush or uh, another way of being expressing an anti french cents a month. i do think that's what this is about. but yes, you know, most of the criminal is looking at opportunities. if you look at what happened this time, last week you had the, the, the rusher, africa summit and the jump to leaders from west africa where we're guess savannah. um. and so that is telling you something. so, but the, the sanctions in, in cases such as of these, where, where there's been a ministry, crude delay until they actually do what the designed to do to they walk. yeah,

look, that's a good question. and i do have experience as is this, i was a un sanctions inspection this inspect for over 10 years in west africa for the u. n. a. and i'm functions kind of work for particular models. i don't work over the over long periods of time so they can be targeted and they can be effective. the threat to them can also change behavior. but we, i'm not sure that the couple assumptions have been particularly effective. certainly not. they haven't this much to, you know that those youngsters and in between our fossil guinea and engine, molly and they have not been lifted on on molly's, for example, last year because they were possibly having a, you know, a impact and, and the hitting the, the, the the civilian population, too much indiscriminately. so i do think this is why the car wash is actually realistic in the sanctions. are a statement. they will turn the screws,

but really is the threat of ministry action. but is the one that's frightening the military dictatorships in the region at the moment, because that's a new departure. we haven't seen that on the table really seriously. for about 15 years, alex, so i stayed with a soc, i'll come back here in just a moment, but you mentioned uranium. nivia is one of the world's biggest produces of uranium, which of course, fuels, things like nuclear power stations. the nation produce more than 2000 tons of hybrids you ready of last year. that's 5 percent. as alex was saying of global output, frances, heavily reliance on nuclear energy and this unit supplies and estimated 15 percent of the nation's uranium that you have was the 2nd largest supply of the element to the you last year. the block and the french government. so that if supplies suddenly stopped, they do have a few years worth of uranium stocks. what has been the impact that we mentioned that the stock pot of you ready in front of the you, but what has been the impact on, on the radium market so far,

alex is the situation ultimately go the effect. frances nuclear power industry process has designed diversification of you, radium supply, given just how important nuclear is for french at energy supply, 75 percent of their energy on the civil energy. and so i don't think the news yak process will protect the impact them. there is a, you know, spread thing of uranium price is a little bit, as i mentioned in the markets. but, but news here is expensive to produce, even though it has a vast uranium assets. it is only 5 percent of global supply. and so there are, as i already mentioned, countries like has expand canada, australia. indeed, even though it may be, as i could step in on this. so i'll try to think this will just disrupt eva french, energy supply or, or e ones. what it will do is to nice the money for the new jerry in a government, because how are you going to be able to export when you're writing?

and if the countries on the assumptions alex is always good to talk to you on contract. acosta was learn something near by the facts and date of being with us. alex finds that a lot. thank you. now rising that record inflation and the depreciation currency, egypt is facing one of its worst economic crises and decades, was by the full hours of rushes. information of ukraine was pushed up prices. the government is struggling to pay for inputs in foreign currency on the black market . for dollars is driving agents biggest states own glenda's seem to be trying to circumvent pass the national bank of egypt and bank missed the issued to new saving certificates in us dollars for 3 years. the 1st offers an annual return rate of 9 percent to be paid upfront and egyptian pounds. the 2nd expense, a 7 percent annual yield, paid quarterly in dollars. the government has promised to apply a flexible foreign exchange rate as part of a $3000000000.00 loan from the international monetary fund. how does announce the

sale of a $1900000000.00 worth of state assets? meanwhile, egypt is suffering from the power shortage of the consumption surged during the recent heat wave. the government is washing electricity and increasing fuel oil imports to ease the load on electricity net book. and it's aust civil 7th to work from home one day a week to east a month. we'll talk more about this from washington dc. we are joined now by american f. my brook. she's the director of the agents and for africa program at the middle east institute. brett, good to have you with us. what do you make of these these. ringback moves in egypt, and when would you dollar denominated certificates? help to little dollars back and i don't what cost they might help know dollars back. but what you're talking about is it's not a drop in the ocean, but it isn't enough. they very well may bring back the oldest velocity because they

just like this for on domestic currency did extremely well. all right, so what does egypt need to do to solve its hard currency crunch? it needs foreign direct investment and it needs it foster. the problem is, this kind of problem is usually self defeating and that you have less hard currency on the market. people start to hold it as even less of it all the market and so on . so what you are really talking about is a bit of a crisis and confidence and do lots of hard currency the, the to, to go to the, to don't go well together. so what he just needs is time to be able to bring on that f d i and it's, it's capable of doing so it, it has a dies. busy and valuable assets and it has a lot to offer. but it's the, the, i think the economy is now instruct straits that everything needs to be put in fast

forward. and that's why the difficulty is as part of all of this, that the, the agent to secure it a lot of airflow is, but it's pretty small, really. um, is it, is it actually going to make any difference? so the value of the item ass loans isn't usually the amount of money it is. and in this case, it's a $3000000000.00 loan. it's not about the $3000000000.00 loan. it's about the i m s saying we think this country is safe enough for other people to be able to invest in. so it's, it's about the, the of the certificate of approval that goes with it if you like. but as part of this time, if deal, egypt has agreed to, to sell some state assets and pledged to a free fluid exchange rates as well. what, what state assets is it going to shut off and it, and this is free floating the exchange rate actually going to help it. it wasn't so much about sending all straight and they tossed it's, it's about the state of taking a step back from, from the economy. i'm allowing the private sector to do it still. so it has lots of

assets that it can sell. and it's actually i have to own pages for them to be sold because many of them are bloated. i'm pretty slow taking the exchange, not easy to put the value of the currency several times. at the moment you won't be able to devalue anymore because, but just isn't the highest currency available to be able to, to back that uh, to back another devalue ation off. it isn't at the moment. the currency is, is holding a stable on official markets. the block market is another matter of close presidency, shows that he, he wasn't going to do the value of the currency anyway because of the impact that it has on, on people. but he's getting a certain amount of pressure from, from investors in the gulf to do something, isn't the, he's got he, there's been a lot of pressure from, from the gulf because the golf is germany as formerly, been extremely supportive of egypt financially. but it says it's continues to wants to to it, it wants to continue to do so. but they're there right now. it's no longer with no

strings attached. they want to see reforms and, and most of the gulf countries now just coming in as investors. and they want to. ready returns on their investment. the president has said he caught the value anymore. and as a matter of fact that's, that's actually correct at the moment. he talked to he, the central park, caught the value anymore because it would be really problematic because development and i think the i m f realizes that which is why they're not pushing at the moment, but not it may have to do so, you know, down the line, but not now, but the bridge you mentioned that the black box at each of them. and how big is the, is that black market? how much damage is it doing to to egypt? sports model. so it's unlocked. now the black market has gone away for a long time, but it 3 much with the vengeance of the thing it you create more when you start getting less hot currency and more in um and. ready calling me and i think there is

about this over a 10 pound difference now between the wouldn't be market and the power market. and what that means is people tend to hold that dollars and trade the whole market in i'm, you know, speculation of the evaluation of rising prices. so you, you have almost the power of system which is bad for any economy and difficult for an economy, a squished as egypt as a moment. the read has been really good still to you on comes with the cost many thanks and thanks for being with us. my pleasure, and that's our show for this week. if you'd like to comment on anything that you've seen, we'd love to hear from you can treat me. i'm at a send a good on twitter. try to remember to use the hash tag h a c t c. when you do, you could also drop us a line counting the cost of elders 0 dot net is our email address. as always as more few online, out 0 dot com slash ctc. that takes you straight to the homepage and then you'll find individual reports links at a time episodes via to catch up. but that's it for this edition of counting the

cost. i'm a very instead of going from the whole team here at the thanks for being with us, but he is on al jazeera is next the the how it is a team from a slow leak. drilled a big a cloud. why does the irish flag fly out of school of these clubs? what is it about celtic that has the world over sealing them all? all of texasfootball where they are perhaps the defense who makes football one of

the the, the provide them. and this is the news online from doha, coming up in the next 16 minutes for the pockets, donnie from minnesota. and ron com sentence, just 3 years in prison for corruption from says it will firmly support assets by the west. african regional block ache was to ensure new jazz, military crew fails.