just one was to make sure there's no hard border between north inside the other was to make sure that's the public violence position in new york and single market wasn't undermined in any way. and the 3rd was to make sure that the good friday agreement, institutions would function. and all of those things are the case today, and that makes it a very positive day. might you go south of those incumbent to lead to a bouquet? the says he's one sunday's presidential election, but official results haven't been announced just popularity, a search and recent months, the officer because of his crack down on the criminal guys. i know a raffle that reports now from the capital sign itself. it of the celebrations and the salvador and capital supporters of the you get a cheering on a victory that will give the controversial president 2nd 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 caused chaos in el salvador for the last 30 years. though 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, presidents 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 out. ways just about any other alternative men will drop a little al jazeera sunset level. that's it. so for me, for now more use in house. now. meanwhile, you can find more use features, an analysis on our website that's i'll just say, i don't know what your devices cost of the cost is up next. stay with us. the the

the hello i'm adrian said again, and this is counting the cost on how to 0. your weekly looked at the world of business and digital mics. this week, slowing gross fleeing foreign investors and a property jobs order to liquidate. china, us economy has faced us fluids. setbacks is it in serious from also this week from

tech companies to media, american science of slash thousands of jobs. since the start of the other work as korea, they now could be at risk plus the so called poly employment is on the rise to take a look at why employees are increasingly working. hold on one job. the china was expected to experience a rip roaring recovery offered lifted strict code at 19 restrictions bus. almost a year off the measures ended. the chinese economy seems to be stumbling. prices are full and exports and imports 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 to the nations biggest property, develop a ever ground, was order to liquidate image and can but reports. and it's been described as an aide 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, the chinese company must go into liquidation. hold on, hold on one sec. i don't see that one comes on. a 1st mission is restructuring business. we will keep the value of, of grand in order to increase the ability of the credit to stakeholder to pay the debt. it's been 2 years since join is largest home build a 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 linda chan has roop enough, is enough. the china is not always recognized hong kong readings. the problem, the liquidator in 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 crash is to the trouble joined 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 china is economy. in other words, it's not. i a layman, much 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, if it grands collapse was in many ways a consequence of that. it was when the aging cut down on landing to property develop as in 2020 slash 2021. the day of the grand really got 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 joint as g. d. p grew by 5.2 percent, the slowest and 3 decades excluding the curve at 19 is consumers spending is done, causing prices to trump and make showing up. one of the few countries threatened with deflation on foreign investment fell by 8 percent. most economists don't think all that 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 in canada, which is 0 for counting the cost. joining us not from hong kong as alysia garcia, editor chief economist for asian pacific at the texas bank. good. have you with us

for this year? 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 on chinese companies. extreme de overseas made mostly in talking to in dollar. why? because i just don't think that the child sports are going to affect the home co 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 are left. so thinking that for an investors are going to get this assets is basically like this means that any new invest 3, 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 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 if the tech needs to come is heidi and intervene or in, in states has including the banking sector. so it's 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. this is mostly deflation, because then we have said, zip is 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, yes 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 the 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.

the court repaired them with before the huge opening up of the chinese economy. perhaps even the discovery 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 flash 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 a 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. finally, make sure even rates, because as i said, i worry about the placing in china. so the way the bbc and cut. 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 or still there, we've got to. 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 10 is 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 an investors did you say or dispute will they, will they trust ever putting the money into china again, o is, is john china now set for ups a almost a death spiral, a loop of low confidence. well i want it 1st, the full answer. the question is the following way 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, not 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 no growth, no, no inflation. i don't think china would be asked to be at the baton because china is the big amount of power globally on the test. 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 conversions 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. it 10, 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 them like a truck, big country, the consumer consumer land less than the us consumers would never them too much, much of 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 to the 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 stuff ups to across a range of roles. meta, amazon, microsoft, google, tick tock, and sales force or among the companies flashing jobs. the move comes as tech dry and supporting billions of dollars. it's also 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, citigroup 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 free

director of future of work at the oaks, the boston school at oxford university. good to have you with us. uh so as we said, the us economy is booming, stokes 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 cheap. and so it's 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 improving 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 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 all good question marks over janet t v. i and its 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 and response as a, i am changes the way corporations look, that will be layoffs going forward. but there will also be new job opportunities. emoji really good to talk to you. so i'm counting 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 pops 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 shared hosting platform deputy found probably employed shift workers well than doubled over the past 2 years. 60 percent of party workers, a women, and disproportionately young. the so they found that $1.00 and $5.00 generations, the workers engaged in poly employment. the vast majority of double shopping though, took place and 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 . i 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 totally fluctuating for there were probably some, you know, a few weeks where average more than a 100 dollars for it's um, but it also gave me a lot of freedom and so 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. and 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 employment. 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 what we find 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 the end. so yeah, most 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 places 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 higher portion of young people continue to rent and increasing the 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, efficient to ship work industries like hospitality, retail. and the notion of a reliable workout is, is, is, is more planning on a weekly basis. and was particularly young, who is looking for most of the georgia streams of income uh,

taking on multiple jobs to me and to main manage those income flows. uh, certainly uh, invoice labeled to plan for the employees on on flexibility, stuff is 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, then the economy has been a phone for people with extra work hours. but women, typically young women in the family responsibilities have to juggle the boys, means 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?

sometimes fascinating talk to it's been really good to talk to you on counting the cost many thanks. indeed for being with 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 in the please try to remember to use the hash tag h a c t c. when you to contact us by x, you could also to office on 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 is next as a, as well as a whole on guys, a continues we bring you relate. we are on the grounding garza covering the ongoing

is raising apartments and the suffering of people's tones that we lost displacements and block of resources as well as district conditions here in and around the hospital and from the height is to refer me to the health data rate restrictions prevents freedom of rights to worship tyler, we will continue our coverage of his route cabinet decisions, the campuses and all the political parties west bank. we continue reporting on the mileage is really raised with feelings of loss, dissension, and destruction. stay with us for the updates and detailed coverage of the role of gaza on al jazeera. the president biden says once a 2 state solution for palestinians and israelis, or does anybody believe it's doable? what this is real for?

i'm gonna say it back to us foreign policy and what are the long term consequences for the region and the world? a quizzical look at us politics, the bottom line. the civilians on the far is rarely forces target crowds in kansas city with scrambling foot desperately needed aid supplies, the carrie jones. so this is all just here a lot from the also coming out you ends palestinian refugee agency or choose is these very miniature of opening firewood. it's a truck. so as they enter gaus.