to, to build a new, the multi and piece of what i mentioned it made by molly, as formality and, and without for an interference. nicholas hawk elgin 0, the vice prime minister has announced 10 measures and of ending protests by foreigners. gabriel alto has abandoned fuel tax increases for follows, and announced and announced an emergency fund to help catch hold promise. chinese people are on the move in record numbers for the biggest annual migration on the planet. 9000000000 journeys are expected during the next 6 weeks for the new, the new year. holiday. katrina, your reports from badging. china is annual travel. rush has begun with millions of people starting to do any head of the new new year holiday. in february, the government expects a record of 9000000000 trips will take place this year, putting pressure on public transport. how many chinese who migrate to big cities for work, spend most of the separation, some loved ones, and are excited to return home for the holiday coaching. so later i had

a very good year. i make good money and i'm looking forward to our family reunion. but it's not a happy home coming for old. i haven't heard much money this past year. it's been hard, but i still need to return through saturday. the new. yeah. because my children and parents, i own a home economic growth is stagnating off to the current of ours. pandemic. china is definitely deflation and struggling to restore consumer confidence. it's hooked the travel boom was 1st spending. traditionally, people travel to the home town to spend the new year with that family for this year, more people are traveling for shores and i'm felicia increasingly budget crunches. tours, opting to stay closer to home choosing destination such as hong kong, the tropical island of high none, or the northern city of hardening, famous forts, ice festival, a to the new cause shown fund this to the huge flow of people's accompanied by huge

consumption, mainly in shopping, boot, sightseeing, entertainment culture and support. this will be a big stimulus for domestic consumption. in 2023, we worked to restore consumption this year. our goal is to expand it. we a travel agency, se country such as thailand and singapore, which chinese possible colors can enter visa, free of popular chinese ellens, have scheduled an additional $2500.00 flights for the living in the period. but many analysts say up to 3 years of close boat is due to the corbet 19 outbreak. china is international travel industry may not fully recover until 2025. katrina you out to 0 staging. the news continues here on algebra, also counting the cost the we don't simply focus on the public accept the conflict. it's the consequence of

wars, the human suffering that uses for time. it is one of the most serious spouts of violence. in recent years. we brave bullets involved because we give voice to those demanding freedom the rule of law, and we always include the views from all sides. the although i'm adrian said again of this is counting the cost on al jazeera. you'll ricky, look at the world of business and economics this week from coffee shipments to oil tank because of tax by who the forces in the red sea disrupting global trade conduct push out prices and fuel installation. also this week africa's debt is crippling the confidence development its latest amount of reform, of the global financial system. at the g $77.00 summit plus selling sleep companies

are increasingly investing in the quest for rest. we looked at how bedtime is become a multi $1000000000.00 business. no installation was expected to ease in 2024 off the move in 18 months of interest rate hikes by central banks. the most aggressive monetary type thing in decades boss. a text by who the rebels in the red sea are threatening to push out the cost of living. again. the geopolitical tensions of disrupted global trades, sending shipping and insurance cost soaring, a whitening war in the oil producing region could for the worse and people's finances. but why is the root so important? so it's kind of always the quickest see route between asia and europe. but any ship passing through either to or from the indian ocean, has to come through the strait of bob, our mind up in the red sea. and the whose the rebels there have attacked festivals, transporting goods through that straight that they say a link to israel. many of the world's largest shipping funds are now taking

a longer journey around africa's cape of good hope that adds a piece of 10 days to shipping times and costs companies millions of dollars. well, those additional costs could be passed on by businesses to customers. more than 12 percent of annual global trade passes through the red sea, that's one trillion dollars worth of goods every year, including oil. busy coffee, fruits and electronics. food and grocery costs could go up if shipping disruption, watson's, but it's energy prices, the worry governments the most because they are the biggest risk to inflation. the international benchmark, brent cruise rose briefly to $80.00 a barrel off of the us and u. k to minutes reaction against the cruelties in yemen. joining us from brussels, frederick erickson, who is the director of the european sense of international political economy vitality with us, frederick about 2024, as we said, was meant to be the that inflation began to dissipate. but with rising tension in the middle east. and there's a tax in the red sea,

is that still going to be the case? well, let's, let's hope i think, i think that's, that's perhaps the, the most prudent thing to do. i mean, as you said, we all right now in a situation where we have a couple of some of developments that are pushing up freight costs and a few other costs, which of course i'm making life much more difficult for the central banks that i have to plan for the be, i mean as far as we know, just start cutting the interest rates june 2024 and, and in that way, try to help economies to recover again from the economic downturns that we've seen since they started monitored type thing. and that's plain noise. now be delayed. so our interest rates are going to remain more or less where they are now. or do you foresee another spike, like the ones we have, the following, the cobit pandemic, and, and at the beginning of the new cream wall, if you look at the bid, the stuff that you buy in the retail store that were in portage and had been

transported to this west canal um it's a very, very much on part of that cost. that is actually a patch. price cost, however, uh, aspect cost is going up. uh, as we see a few of the developments as you mentioned or the price is, has begun to move a bit. and of course, that we have a few other problems. for instance, that the winter has proven to be big cold. and we have more energy demand right now, which is helping to push up energy costs to bits, at least in, in, in, in the, are being a part of the world. that in itself presents a situation where i don't think central banks feel confident that they have control over inflation. and that they know can start to be confident about that. they can reduce policy rates and they trying to sort of a be show that the full, they are now going to start to cox interest rates and,

and that's where you have the economy to, to revive. they need to have inflation down to levels where they are stable and secure at these low elevate levels. but it's the will why things, god forbid to the, to, to the, the, the, the, why, the middle east region. i mean, that's not going to do anything to help and inflation isn't. i mean, how, how bad could things get? so the likes of you, me and anyone watching? well, i mean there are of cause um, scenarios that we can talk about and 9 to chain, which is going to have a significant impact on the world. the corner me at large, not just on freight costs turned on the transport costs or general the but it's uh, a laundry regional in the middle east and all the type of, of conflicts, of course that's going to have a very, very usually impact. and basically, no central banks off the course they've been on for a couple of months now,

which has been pointing in the direction of cutting interest rates. if that happens, i mean, then we almost like to go to see central bank stock disputing the economy with more liquidity again. so we are uh, you know, inflation or assign cold in, in, in more waste. and then just that oil prices or other costs are going to go up further. i'll be back with you in just a moment. but 1st i want to talk about perhaps what could be described as the opposite of installation, mouth wash tea bags sausages to name. but a few pack sizes are becoming smaller, but the price has to reduce the practice is known as shrink flashing manufacturer say that it helped make products more affordable for consumers. as the rising cost of living begins to bite, but a new study by excellence research company has found that almost half of consumers, so they'd find shrink flashing unacceptable with the french most upset on north america. and europe has the highest rate of dissatisfaction with the practice. consumers in asia,

pacific and life in america have shown less discontent for the moment. the 2 regions, though, have a much smaller proportion of consumers than europe. who said that they noticed shrink flashing pretty well. what, what do you make of, of translation? is it, does it have to stay, or how much, how much smaller can products get? and yeah, so the, the, well, we're going to find out when we look what i think we talking about them. is there a few differences across the well here, and these differences in terms of how produces have, have perhaps to reduce the size of the product. so. ready the done other ways in order to find that a, find a strategy to balance costs and avoiding to pushover a lot of cost on the consumer in, in countries or in, in region square inflation has been very, very high. i think a lot of producers have been confronted with the realities that they pass on all

the increasing costs they have to the consumer. consumers won't buy the products. so they've still wanted to play with other strategies, like for instance, reducing the, the size of the content of the product. for instance, if you talk about food, i think that's being being the most obvious ones. and there's been a few other set of strategies as well, but i think it's been very, very strongly leading to the rice and inflation of the problems connected with finding a way to sort of avoid uh that consumers are going to be, are all the costs because if that's, if that's the case, and there's going to be just a very, very sharp dropping in, in consumer demand and then in consumer purchases of all of these particular products. so i think that's, that's predominantly what we've been talking about to you. then of course you have the more generic development which web seen over a long period of time, which of course is that, that produces all, you know,

electronics or food or other types of expanded bose are over time trying to size their products in a way that fits with everything from green or emissions, avoidance of food waste. um, uh, and i don't think that's going to be b be changed in, in, you know, anytime soon. but the, the more sort of translation part, i think that's a phenomenon which has been inter link to buy inflation rates and inflation rates come, come down. then of course we're probably not going to see companies playing around with that so much anymore. frederick, it's been really good to talk to on counting the cost manufacture date. so being with us, the now the you and says that africa is public. that stood at $1.00 trillion dollars in 2022. that's an increase of 183 percent since 2010 african nations now spend more money on servicing interest on the debt. that house

or education and many of them are unable to invest in sustainable development. yet the share of official development assistance going to africa is a, it's lowest level involved in 2 decades to address the needs of the developing world, the you and of african leaders demanded before. busy of the global financial system at the g $77.00, some as well. my custom sharif reports i put those that summit cost a shadow of it. so it's south summit in uganda is capital composite of the group of $77.00. a g 77 represents the was largest into continental organization of developing countries in the us. the block representing 80 percent of the population is birds inside cooling, financial liabilities. separately, economies are considered at risk of debt distressed by international institutions. un secretary general antonio good to this address be in oakland session. he

criticized outdated financial agency saying they failed to provide a safety net for developing countries in distress, financial institutions and frameworks created after the 2nd world war. still allows me to respond to the body license and the global economy of that's time, as they must view the forms so that they are duly universal, reflect with justice the realities of to day and that a much more responsive to the needs of developing countries. the team of the summit plus to help reduce the widening gap between rich and poor nations. are you an agency says applicant debt has been wise and get to read. that's constraining difficult. the world bank has sounded an alarm over the continents prospects. g 77 leaders accused global institutions of lifting help and favoring rich northern countries. uganda and president, we already most of the need to come and check valued members states the unity to

increase economic cooperation. power push those city points, production levels of services. how to encourage that? does that include increased dealing with the issue of markets and then the issue of, of, of the infrastructure. but this assumes that to help you some dollars. that is which is another issue. because they don't top piece. then we don't, we know that you with this, but i'm gonna say this by the challenges developing countries phase, the global self that includes some 130 countries on the rise. $77.00, developing countries from the block in 1964 to promote economic interest in now includes a $130.00 nations with backing from china. this year,

the book is demanding a fed treatment in the global financial system. and the consumption of you've also sees a for counting the cost as well to unpack all of that, but join from cost center goals by diode us and bennett, who is the see of the global development advisory, a free capitalist godaddy with us at the what do you make then of the g $77.00 summit. did it really address the concerns of the developing world, particularly your parts of the world? i think thank you very much for having me. i think the do i need to do 77 and some, it was certainly very much why they've gone in the us. they've got in many ways because as you know, investigating the entire government of the organization that seems to for more collective economies interests of its members. and it also in those sort of strengthen corporation between this a mile south of globe as us companies and at the same time was so health offending, they're negotiating their capacity. so of course, when they talk about these issues, like the default, the global, financial,

electric picture, depth of climate finance, those actors with the back of the head of the applicant agenda. so yes, i think this, this i'm, it was a much better comp. and the fact that now over and nothing can can be you've done that use now checking the g $77.00 the stuff. and he's going to be very much telling me the cool and better targeting support for africa as products i think on members. and for the developing countries that i remember something good, we had a little bit about it in the report, but how did african nations find themselves in trapped in, in this, in this vicious cycle of a debt? yes, so i think maybe before responding, just qualified in here because i think he's not african countries. i've talked in depth, but many african countries, of course they're going to be phasing and back increasing. so that's that. but and the reason is actually quite the mystic thoughts. but the funny, this was, this started before the fund image. so i think many ethnic kind of talk is cetera, legitimately the need to respond to develop on demands. and the needs for insight

suggests that needs to respond also to climate shift, as you know, i think i use on so very but to having sort of i'm the natural disasters. so all of those needs actually let's let the government store both of them off to respond to the business particular it's really got some interest sector and the funding it and run the funding arrived. what happened was suppose was the visit. you might need to respond to the fund image and that thing that was also something that pushed the governments to both of them off to be able to sort of release their populations from the shock of the funded funding impact of defendants. and certainly that's how they have been on the, on the, on the burden on the 11th. and i think also what's happened up to defend them. it was of course, the war and you can and also i saw does a boost and that sort of goes so much higher energy and for the prize that also a bunch of you did the higher bust of living. and of course,

the day was so by many companies enough to go felt the need to sort of, i then them subsidize, only to get them, you know, the key recognize the and that for products and goals. because that also does require boring from some domestic market, something to nothing markets and also somebody let their own credit as all of that actually contributed to, to, to the institution. to proceed with that being quite a bit now. so that's right. issue. and a big shot, i've seen many african congress site and you're talking about the high cost of, of living. to what extent is this the cycle of death and the set of things that, that holding the people of, of the continent back. well, i think the, the high level of debt has to becky dimension consequences in many ways, special fund. it has a, some sort of a very um, dimension by 4. you can understand, but in the sense that it's actually may lead to thoughts. uh, you know, discovery policy challenges, it may also have to create some of the financial stability risk. and i think this

is something that, unfortunately many in depth did come to this or countries that i end up discuss are facing. but the symbol so has um, it's uh logged in back in the sense that it can also cause some and some extent let's that'd be the sort of 5 issues in the sense that the company that i very much just everything had dennis. i actually made most of the phase, some of the extended weight by some be most of my face, some ability to maintain that reserved things. and that's one of these after i think quickly about all of that is unfortunately having some very much of the human getting back in the sense that the population of these back in the cost of all of those instructions are that i talked about among africa's denounces reform of the global financial system, the unbroken woods institutions is, is that a fall fetched notion of how realistic a prospect is that and especially these 5 states? yeah, because uh, if you look at it, this is a no. do you mind that has been made by accidentally many where the developing

congress from the g 77 and voters for a long time? and the good thing is that we fall off these already underway is the problem is unfortunately the speed and the visa is not really bad. and that i think that's racks. i many of the time to talk these are very much disappointed with what these grand of you think it's fine says i've been very fond of them as much as i've tried to put them on back. this is part of the front of the globe and financial back detective as we see some moment of essentially, i think we have seen institution like the one thing announcing becky, sort of ambitious, or i mean from as endo boston instability before where people for us, it got to be very much it into a and that's not necessarily the can get the case given the slowness of the, the following questions that i talked about. but this is something that the also is something that we see into the issue. i think in depth also that the funds there have very much slower and this is also something that is really a concern for many developing countries,

not just gonna pick up on any weather around the world that are facing the issues. so yes, i think the quoted that was made folks, i think the 77 summit for the 1st 70, some of the on the side that she has actually back to east. maybe my son is a few minutes. and we are hoping that the or the governing body is not just the g $77.00, but most of the deep wine ended the 7 and the which also would be very much pushing display have been doing. but i hope that the, with prostate into concrete progress don't really go to talk to you on counting the costs many thanks. indeed for being with us. now a good night sleep is everyone's dream. many brands of work and up to the business potential of that. they're selling products, services and applications, meant to provide that to us that time. the so called sleep economy is expected to be worth 585000000000 dollars this year. and it's not really big companies that are raking in profit.

imagine being able to make money when you sleep with social media influence. alec shannon says he's done just fast owning more than $50000.00 in 18 months by sleeping at luxury hotels. knowing that his account app follow that app on instagram. alex is among a growing number of so called sleep fluency is streaming life footage of themselves on the covers. and it's not just content produces that a caching. and on bed time, a host of brands are trying to profit from people's dreams. products such as high tech pajamas robots of hub blankets. yes, you heard that right now, flooding the market. all of them intended to help you. those off, some of those items can cost cost a fortune. what do you do for a living? i saw a luxury bed time confidence. we to go beds. yes. it's the most expensive bed that you sell while we talk about it. 89600. $89000.00 for

a king size. some of those beds are entirely hand made, and it takes mazda across about at least 600 hours to make them. all those made of holes have exploding topics reported that the bubble mattress market is worth more than $50000000000.00 right now. but it's estimated to suppose 75000000000 by 20. so see. but should people even been paying that much to buy the bed of roses? well, the impact of expensive mattresses on a good night sleep is disputed by science. one of the reasons why people buy into the business is an exploding appetite for extravagance. but studies have found that a good nap boosts productivity and could save economies billions of dollars. so there is indeed money to be made between the sheets. a sweet dreams. joining us from the side and switzerland is l as bound to hell, and she's an international sleep expert, an adjunct professor at a business school electra, i am the business school good to have you with us. so what's behind the booming

business of sleep? a couple of really big trends. first of all, unfortunately, a lot of us are not getting enough sleep. we see for instance, that about 35 percent of the population says that they're sleeping less than 7 hours, even though $7.00 to $9.00 is recommended. but apart from that, we also see a general increased interest in our own how then our well being and, and unfortunately, the also to see that people suffer more from stress and, you know, kind of unhealthy lifestyle factors. if you just look at the percentage of people who work shifts, it's about 17 percent and we know that that really messes up your biological clock and hands your sleep in your house. so i think there's a lot to, to fix when it comes to people sleep. and with that we, of course, the, the big trends of advances in technology that make it finally much more affordable

for people to track and monitor their own sleep. not everyone, of course, can afford to buy themselves an expensive mattress, a the companies that produce those training sleep into a luxury well, you know, i think one definitely very concerning aspect of this conversation around sleep is the message that sleep is a luxury. we really need to remote, we're move that notion, that's because a luxury and replace it with a true which is sleep is something we all need. we all deserve and something that unifies us. so we definitely of course, the, some players kind of aiming for that. you know, high end of the market and we for instance, also see that those with a higher income are more likely to have a sleep tracker. but that's that you definitely don't need to buy a very expensive mattress to have good sleep. i actually think that a lot of this,

you know, sleep is a luxury comes more from the equity that we see. we just see that when people have no concerns about their finances, they are less likely to get a good sleep. on average, they sleep 10 minutes less a night. so there's a lot of factors that contribute to those who work, share those with the lower income or those in developing countries to have worst sleep. and that's something that i think we should all worry about. is it all in the, in just good marketing or is there some solid science behind all of this? that's a good question. um there's definitely increasingly more science behind it. um, so that's good to see more and more of the start ups and also bigger named companies, reaching out to steve experts to collaborate with them. really running studies to see whether their products are in fact improving sleep. but that's that i would say

that's maybe 20 percent of the total market and yes, a lot of it is marketing and i think we should all keep in mind that a lot of us can improve our own sleep simply by behavior change. but in my experience, people tend to just prefer to buy simple products as opposed to putting in the hard work. ellis, it's been really good to talk to you on counting the cost. many thanks. indeed for being with us. you're welcome. anything of that. so i'll show for this week if you'd like to comment on anything that you've said you can get in touch with us. i'm at a finnegan on x. try to remember to use the hash tag h a c t c. when you do or you could drop us a line counter, the cost of the elder 0 dot net is our email address as always, best friends, email few online, but i'll just do a dot com slash ctc. that takes you straight to a page and they, you'll find individual reports links and the entire episodes for you to catch them . but that is it. so this edition of counting the cost, i'm a free and for the good for the whole team here. and so thanks for being with us.

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israel most in accordance with its obligations under the genocide convention in relation to palestinians in gaza take all measures within its power to prevent the commission of all acts within the scope of article 2 of the convention. but you and the top costs oldest israel to prevent genocide and gaza and allows for monetary and age but stops choice of demand in the 65 kind of the the.