the election day, you'll feel that zip code, boom, at any point, and this is not what we these of because the people themselves know we just conflict. no ethnic conflict, but you have localize way too soon. isn't, does mix and bass fight, then destroy thing, guys. what's out public was been regarded as the most stable democracy in west africa no longer seems so stable. nicholas hawk elgin's 0. official results in el salvador. his presidential election haven't been released yet, but the incumbents valuable kelly has already declared himself. the window is popular, which is largely attributed to his chronic don't own criminal gains, gonna rob over thoughts, the capital, solve it all the celebrations and the salvador and capital supporters of the kennedy cheering on a victory that will give the controversial president. second term, after the before you, we didn't have hope, but today we have it. and that means

a lot. appearing before a crowd of thousands who kelly called the election historic. all now in the next 5 years, just wait and see what we're going to do. because we are going to continue doing the impossible and showing the will the example of el salvador nigi book daily largely owes his support to his administration's hard line policy to rid the country of dang, like m, s 13. and the 18th street gang would have cost chaos in el salvador for the last 30 years. those successful in dealing with criminal gangs. critics say the suspension of civil liberties, consolidation of power, along with an unconstitutional bid for re election, have made look at it a democratically elected dictator. he has everything, you know, all the power. there's no control, there's no way defending the flowers. so that's what we're seeing today, and you know, precedents up one the,

even though there was an expectation that salvador and president able get a would win by a landslide. the celebrations here in el salvador historic center hartsville, massive though human rights and civil liberties. advocates continue to warn that el salvador is walking a dangerous type road for a majority of salvatore and the promise of a future. safety and security is the norm. ways just about any other alternative men will develop a little al, jazeera, sunset of other the changing the cost is up next to now using i don't forget the website. oh to 0 dot com. i know madison's thing with this will be back in about 30 minutes. neil's rain forests are some of the world's oldest,

but they are no match for the deputy fires that increasingly with through them. in the face of mind made deforestation an unforgiving climate change. a young indigenous leader makes all plans to protect their village. fire beneath a witness documentary on and just the hello i'm adrian said again, and this is counting the cost on out to 0. you'll ricky looked at the world of business and economics this week, slimming gross fleeting, foreign investors, and a property jobs order to liquidate. china's economy has faced a slew of setbacks. is it in serious from also this week from tech companies to

media, american science of slash thousands of jobs and systems of the other work. as for you, they now could be at risk plus. so coal poly employment is on the rise. we'll take a look at why employees are increasingly working more than one job. the china was expected to experience a rip roaring recovery and offered lifted strict code at 19 restrictions bought almost a year off the measures ended. the chinese economy seems to be stumbling price as a full and exports and impulse of plummeted. unemployment has risen and the real estate crisis has deepened. the sentiment is so bad, the foreign investors fled the stock market last week. the situation could get even worse off of the nation's biggest property, develop a ever ground, was order to liquidate image and can but reports. it's been described as a nate in the coffin for the world's most invested property. develop a f,

a grand and another place to join us loving economy. a quote in hong kong is ruled that the chinese company must go into liquidation. hold on, hold on one sec, i don't get one comes on. a 1st mission is restructuring the business. we will keep the value of the gland in order to increase the ability of the credit to an stakeholder to pay the debt. it's been 2 years since china is largest home builder default to donate step $300000000000.00 marketing the beginning of joint as property market crisis. company has been working on a restructuring plan, but with no tangible results. judge, leading the chan has roop enough, is enough. the china is not always recognized hong kong readings. the problem, the liquidator and hong kong would have any offshore liquid data is they have no enforcement rides on shore in china. so all they can do is try to attempt to grab

assets and sell assets that are optional. but the majority of the value in this case is on shore in china. already closing fees and uncertainty is high significant . the company clash is to the trouble join these economy and i suspect that the chinese government will manage this liquidation process very carefully. and why that does that cause major problems for the chinese economy. in other words, it's not. i a layman mine that like we saw it back in 2009, but that's partly because epa ground was already considered as good as bankrupt on the property crisis is already in full swing. this is just for the evidence of a large property bottle in china and you know, evergreen's collapse was in many ways a consequence of that. it was when they using cut down on landing to property developers in 2020 slash 2021. that ever grand. really go into serious trouble from

the ninety's until 2020 property developers could access large bank loans to fund developments. but when the cash flows stopped advert, grand and other property developers headed for collapse. it's estimated there are millions of people who have paid up front for homes, but the yet to move in on the rest of the economy is suffering to last year. join is g, d p grew by 5.2 percent. the slowest and 3 decades excluding the curve at 19 is consumer spending is done, causing prices to trump and make join. one of the few countries threatened with deflation on for an investment fell by 8 percent. most economists don't think old will have a knock on effect worldwide, but others fear the worst is yet to come for the 2nd largest economy in the world image and kinda, which is 0 for counting the cost. joining us not from hong kong as alysia garcia editor chief economist for asian pacific at but texas bank could tell you with this,

what is yeah. what's been the full out then on the chinese economy of this liquidation or the against the ground. so i think the biggest impact of this liquidation will be on a phone call as well as from chinese companies is showing day overseas, made mostly in talking to in dollar. why? because i just don't think that the chinese sports are going to affect the whole quote to seize assets or the offshore credit. why? because it is very likely that they, we prefer these, i'm finished units, which are more than a 1000000 only forever grounded to be finished. with the percent of, of the ground, with whatever absence they're left. so thinking that for an investors are going to get this assets is basically like this means that any new investor and try the, trying to get them thinking of buying it. check these bonds in dollar we think twice because basically now it's obvious that they cannot see if this is that most

of the assets are on in the maintenance. and that's going to increase the cost of funding in dollar for chinese companies overseas. we've talked about this on the program many times before about about the property crisis and, and where the rock bottom is. we now finally, joshua boss of why has the chinese government been able to pull the sector out of the doldrums? where in terms of the prices, if you know real estate prices financial crisis, where out of the doldrums, because it's the chinese economy is highly eh, intervene or in, in states has including the bike and sector plays in a way. and these cuts the controls, the money can lovely. this is why was not seen it for that price is by the way, we didn't see it in japan in the ninety's either because at the end of the day the, the, the, those were holding china that are in the may not the congress and weight. uh,

but that doesn't mean there's no consequences from this the best they'd be months. and this is mostly deflation because the yes exec there's pushing down stream prices, iron or cement, etc. and that is having been told on the trend is a huge over capacity. inflation will be a major problem if it's not, if it doesn't get sold. so in that regard, yet it is, this crisis is costly, right? most of this, the most major or most economic indicators right now pointing in the wrong direction. is china's economy in serious trouble? yes, i would actually start by saying that everything's been just 24. it would be much worth the base. so it's really a modeling through a situation is not a price is i explain why it is just very difficult. the price is right. however, the cracks behind the structure the celebration are not being repaired.

you can't repair them with before. the huge opening up of the chinese economy, perhaps even peace country for just desperately needed. it might view. all of these things are not happening. so the cracks are getting bigger, but they're not big enough for the building to full. so we, we still seats no growth, maybe slightly lower, but not a recession or, or it prices inside. alyssa, i'll be back with you or just the 2nd chinese leaders of single concerns over the economy by taking measures aimed at reviving growth and studying markets. they include a decision by the central bank to slash the amount of cash, but the banks are required to hold in reserve, which could provide long term. it liquidity, if the economy, china is also type in stock market. bruce, as the government tries to hold a deepening self over 6 trillion dollars, has been wiped off the chinese and hong kong stock market since 2021. let's see if

with a lack of any big stimulus package, what do you make of the steps taken? so fast to revive growth and, and what does it take to revive an economy like china is which is which is huge. a yes, good point. so i actually do agree with that being the survey final, make sure even rates, because as i said, i worry about the placing in china, so that was the bbc and cuts. but the reason why the piece is not cutting rapidly is that they really worry about offers. so the interest rate differential when, if it is very important, that these basic outflows go into the door, which is very profitable in terms of return on the, on dollar assets on the bbc cuts. now it's basically incidentally more of this exit of capital. and we the weakening r a b, which is a bad thing now for those are still there with capital. so this is why they're in

a way to catch 2222. they need lower rates. but on the other of the other hand they, they want to keep the cost the lead china. and this is why tennis, very key, more than ever to receive for an investment, more than ever would need to realize that this is a charm offensive that we'll see. but so far it hasn't worked. let's say you say the you, what rate should the rest of us be? what rate on investors? did you say or dispute will they, will they trust ever putting the money into china again? o it is. is john china now set for ups a almost to death, spiral a loop of low confidence? well, i want it 1st. the full answer. the question is the following, wait a, do you trust the japanese? because or maybe you to maybe after 35 years of deflation, a pressures you're ready to go. it's like everyone is going to japan like japan and

so cheap. so yeah, but again, it's cheaper, it goes through it very, it's very been in place in the furniture where there was a good reasons. me basically mattered orientation in japan. so to buy, so cheap now compared to what it was in the eighty's early 9. so these are the that, but this is judy piece also has more because you know, and now grow, know, know inflation. i don't think china would be asked to be as bad because china is the big amount of power globally on the past. literally nearly 30 percent of the bundle talk to market share, defend and never go there. so i don't think it would be a spot of japan. but a, i do seen that china from rapid convergence with the us, with the develop will we decelerate that comes, or just at some point we stole. but the good news is that china, by that time mean by the times that number of the same of the us pulse you maybe do

insert done $35.00, it turn, i would have $25000.00 per capita. it'd be that huge market already. but even bigger, we withdrew rather rich. so basically if escaping the middle of truck big country, the consumer consumer land less than the us, consumers would never them too much much as the us consumer provides these lower. but it big market. oh, so it's, i'm not sure market my to our market, not a growth market. that's where china city ok alysia really good to talk to you on counting the cost many thanks. indeed for being with us us. thank you very different story in the us. the economy that grew faster than expected and stocks hit record highest. the market riley was mainly driven by the tech sector, but despite ranking in big profits tech giant's, a downsizing nearly 100 tech firm. so together laid off almost $25000.00 employees

. that's interest the 1st month of the year, and it's occurring not only in big companies, but in smaller startups to across a range of roles. meta, amazon, microsoft, google, take talk, and sales force are among the companies flashing jobs. the move comes as tech dry and supporting billions of dollars. it's aust official intelligence. more than 260000 layoffs were recorded in the industry last year. according to layoff, store f, y i data, the jump comes back, then we're in response to tough economic conditions and changes in consumer habits in the wake of the corona virus pandemic. well, the last not limited to the tech sector, city group bank said last month, it was causing 10 percent of its workforce. several retail companies are cutting jobs in order to lower costs. and many journalists began the new year with a pink slip, nearly a dozen main stream organizations, including prominent newspapers, reducing the stuff numbers. joining us now from london is called benedict freight

director of future of work at the oaks, the boston school at oxford university. good to have you with us. so as we said, the us economy is booming. stocks are rallying, the tech sector is driving and you have thousands of workers being laid off. what's going on? i think what's happening is that we've seen the period where money has been exceptionally sheep, and this is changing now with interest rates, pricing. and what that means is that the author period where companies have expanded, their operations invested high to more people than now attending their ballast. and as a consequence, we are seeing these layoffs and the also, as you mentioned, the heavily impacting, smaller companies. and as venture capital, firms are becoming more risk of us and then you high interest rates and environment. and i think that is the sort of driving force behind these laid off.

okay. you say the timing that bells the businesses, they exist to make money. do they really need to get rid of the stuff these people? and is this going to be contagious? so we're going to see it across multiple sectors, not just the tech sector. as i think the effects of interest rates on employment are going to be seen across a variety of sectors. but remember, the tech sector expanded particularly rapidly in the leading up at to these a rising interest rate. so i think the impact is going to be more significant and in the tech sector, whether they need to do it or not. and i'm not the business analyst, but i do think that they are in the quite a massive pressure from investors to improve in profit profitability. okay, so it could be an investor driven, but the other question i want to ask is that to what extent is a i replacing people. so artificial intelligence is going to have

a huge impact on the labor market go forward. but i don't think we've seen the much of outright replacement from a i yet. i think what's happening gradually though, instead, artificial intelligence is changing the business model. in many companies, in particular, firms that's being very reliant on collaborative advertising for revenues. and not seeing those revenues being challenged to large degree by technology is lock chat, tippett, t, m. and i think the big question marks of it, to what extent people will continue to search and, and the web at to find new send information. and depending on the impact on the web traffic in particular, and the impact of companies, advertising revenues and kind of can be quite significant. so we talked about the media sector also laying off jobs and very different reasons i assume from the tech

sector. i mean is a, i something to do with what's going on in the media industry that the business models need to adapt and change. so the media industry has been on the pressure for some time now. the to large degree because of rising competition from the types of tract forms and changes in the way that people can see news and entertainment. but i think in addition to that, they are as now creating a profit store as it becomes easier for outside us to generate content with the health, which activity as we use organizations, it can become leader as a result of generativity i. and obviously many media companies uh, companies rely on advertising, advertising reb revenues very heavily. and as of that business model is gradual being undermined by gender to be i as well. uh,

the layoffs in the media industry have been particularly mess. what does this tell us about the us labor market right now, particularly off to the feds, but latest decision and its impact on the economy? so i think that most of the impacts from rising interest rates have already at been seen, but they're a good question. marks over janet t v i and it's impact on living markets going forward. and i think we are learning much at the cost of a transformation, which is very similar to the one electricity head on the us economy. and as companies change their business models in response as a, i am changes the way corporations walk. there will be layoffs going forward, but there will also be new job opportunities. emoji really good to talk to you so on catching the cost many. thanks. and thanks for being with us. my pleasure. now

the practice of working more than one job to make ends meet is nothing new, but the trend is now known as poly employment is no longer driven solely by financial needs. exploring different career paths is another reason why employees worked to full time job civil tenuously. despite the stress involved and double jumping, not to mention the lack of sleep poly work is on the rise. a new study by workforce management and shipping platform deputy found probably employed shift workers well than doubled over the past 2 years. 60 percent of party workers, a women disproportionately young. the so they found the one in 5 generations, the workers engaged in poly employment. the vast majority of double shopping though, took place in the hospitality sector, health care and retail, others where the trend is common. so why do people take on board them one job and how does that affect the price balance? we'll put that question to our guest shortly. but 1st, let's see if what some employees have had to say to write down the united states

without expensive. everything is especially for college students. i think people feel like they have no choice, for example, on some of those guidance in the summer. but i'm thinking, oh, maybe i should get another side also another job because i'm gonna be in new york city and your city is an expensive place. so i think that people are put in positions where they feel like in order for me to feel secure and safe and comfortable, especially as a woman, you feel like you need to take the extra 10 steps. i've had multiple jobs, have multiple jobs cluster this year. i'm a little bit more stable, so i have a regular job now i was sort of the start founder. so at that point it was like i needed to have multiple in concerns because there was so you know, both technical training for the republican, you know, a few weeks where the average more than a $100.00 for it's um. but it also gave me a lot of freedom in this area. it's kind of like a page of constructs like you get to kind of offset of lots,

but then again at the expensive we're familiar with the hard in. so it's sort of templates the script because can they be it's being too positive, but i can imagine it being nice to have several different jobs. what i liked about my job is there's a lot of variety. so it could be nice not to do the same thing the whole time to do different things. or i try to use not for melvin and australia is dr. shashi, cora vanessa. he's a chief economist at the geographic, a global city planning consultancy. good to have you with us. i'm probably employed, but it's on the rise. the and it's not just people making ends meet now. is it? that's right. it's clearly, it hasn't been, as i said, because of the cost of living much it inflation, but always buying the analyzing millions of should work hours is that this trend is currently being pushed by young generations that work goods. well, each experimental view of career as a means by taking multiple jobs in multiple industries. so that is a very interesting trend that is recently

a. the other thing to that is that you have to label the notion of live on very pods. so thrown out the younger people, i think the experience of the a, c and, and the pen navigate. as many young people realize the job cream off, i'm not as stable and secure as the bottom. it was always the eldest at. and so young people tend to take it on multiple jobs sort of as an insurance based that gives losing one go well, so maintaining another and that's it. and we have to take a lot of place and this hides the labor. it's not good. all right on on comes with the cost we, we like to look at the global picture, is this trend more pronounced in, in certain countries than others? offensively, most pronounced in developing countries. contents. part of it is inflation, but also rising cost pressure as you can appreciate. a hyper function of young people continue to read and increasing housing in affordability as driven them

in boxes. a multiple jobs to make any makes it in need of a whole we find a huge that's been is most i did in places like australia where there's p housing costs pressure and there's a 30 year hide in the share. what? because taking a multiple jobs, are we seeing whizzing decade or higher the us and then you can labor markets as well of our employee is concerned about this, about this trend. the fact that but somebody might be coming to work for them. having already finished a shift elsewhere, i mean that that's going to impact impact productivity has missed are certainly, but some employers are not able to provide a more reliable work. goes full employees, especially in ship work industries like hospitality, retail and nursing. the notion of a reliable work hours is, is, is more planning on a weekly basis and was particularly young, who is looking for most of your screen. something huh. uh. taking on multiple jobs

to me and to main manage those income flows. uh certainly uh, employees were able to plan for the employees on flexibility such as and reliability of what colors i think they, they would find a way to, to manage those, those workers that are taking a multiple job. and why is the trend more common among women than men should? so if you think about it in the game, what the economy has been a phone for people with extra what goes. but women, typically young women in the family responsibilities have to juggle the boys, meaning the family needs while ensuring a reliable stream of income and what color's the best way to do that is frequently not through taking on a gate. was bunting on multiple reliable should what of jobs to avoid jobs

that i sometimes fascinating talk to. it's been really good to talk to you on counting the cost many thanks. indeed for being with us us. thank you. and that's our show for this week. if you'd like to comment on anything that you've seen, you can get in touch with us on the x. i'm at a sitting on that. please try to remember to use the hash tag h i c t c. when you to contact us by x, you could also drop us a line counting the cost of l just 0. don't net is our email address. as always type email for you online at, aus is 0 dot com slash ctc. that takes you straight to the page that you'll find individual reports, links at a time episode, speed to catch up on the message. so this edition of counting the cost on a tree instead of going from the whole team here. and so how, thanks for being with us, the news on i was just 0. his next of the month of the fish bucket gun is ordering a general election on february the 8th with this form or later on von,

and present many buckets on. is that asking if the boys will be free and they're without the data for the latest development and details analysis, exploring type less cultural, examining political disco exposing societies of doctor award winning intense investigations. the get compelling insights into humanity open until the stories from asia are in the pacific. 101 east, on which is a meeting of minds discussing the defining issues of our time. in one year we source that change. it became clear at that point that we really were really kind of a new era of a nobel peace, slower. it's maria, theresa and professor michael wooldridge explore the pedals and possibilities of

artificial intelligence. it changes the way we think and then the way we act out can protect ourselves studio b. b a. i series on a jersey the the hello i'm role matheson and this is the news on life from doha. coming up in the next 60 minutes. israel attacks the gaza strip from the north to the side of the heavy bombings reported in gaza. city dead on battle, unlawful living among the dance palestinians pitch make shift chimes in a cemetery and rough us significant. nowhere else to jo and honestly, international reports reveals a rise and leave full force use to get.