the, the, there's no limit to how far a dream contains, key stuff in your own adventure now counter. and we the hello, i'm elizabeth put autumn in distance, counting the cost on al jazeera, your weekly look at the world of business and economics this week as well. as finances on this train and as much of the deficit as widening the nation's credit raising has been downgraded for the 1st time. and it's just for you to put

a face to financial crisis. task tax cuts and hiring. elaine moss, donald trump has outlined his vision for the future of the united states. so how does his plan compare to badges coming to harris and what it, what china is, lita has pledged more than $50000000.00 in financing for africa. we look at what's behind evasions, move toward african nations. the move a 60000 does way the businesses are expected to go bankrupt in the coming months. tourism has ground to a halt and consumption, trade and foreign investment have all slumped as well as one, gaza. is damaging almost every sector of its economy. that's a spending and borrowing a both rocker sitting to finance the mountain cost of the war. the cost is expected to reach more than $67000000.00 by next year. credit raising agencies have downgraded as well. so the 1st time and it's history, and many's way the economist,

one of the nation will face a financial crisis if it fails to act of a homeland reports. will know shaky ground of the 11 months on a war footing is rose, economy is experiencing it's slow. it's growth of recent times in the 1st quarter of last year, it contracted by almost 21 percent on the finance ministry slash gross prediction for these. yet from 1.9 percent to 1 point one percent katie reaching agencies of downgraded is red status by and not. feet sees its physical deficit, could reach 7.8 percent this year from 4 point one percent in 2023. the ages he also expects that remain above 70 percent of g d p. in the medium tom expense, the, the changing is there as credit rating. we have an impact on government finances. it will make balance that these are also

a to finance government expending more expensive. okay? it will have the will have to pay higher interest rate for those people who buy these bonds because the bond will be risk year. okay. so the government will, will have, will have it harder to raise money in the international market. almost every sector of the economy has been affected by the war. with the construction industry, one of the hardest hit is right has expend more than 140000 palestinian workers since october just when they're going to do the pony. and this construction site is about 230 people back about 70 people lives since the wall sconces since the start of the war is real. doesn't allow palestinians to work here. there's a huge lack of workforce experts, a warning that the longer the world drugs on,

the less likely it is the economy. we get back on its feet quickly. if we re stumbling and control their will and then i don't know what. and then i think we'll think of the wall my top is really a corner me today, but it's lingering of they fix it. yes. the repair hands him him with a 0 for counting the cost. no ways. well, funds may divest from companies that health is around and it's one, gaza. it's opposed to the world's largest fund, could sell shares of companies that violate its new interpretation of ethics standards for businesses among the companies that it's watched. all could be looking at r. r t x called general electric and general dynamics. meanwhile, pulls into the council has budget to divest from companies doing business with as well, but come into full us cities of pos such a measure. well, joining us now since to got and germany issue have a,

as an economic researcher and director of the lines of justice between israelis and palestinians. thank you very much for joining us on counting the calls. firstly, how would you describe the impact of israel's war on its economy? the impact is catastrophic, as well as crossed every possible red line in terms of and planning the amount of resources that they're willing to spend. not only have they committed a and they are committing genocide against real estate agent goes on, and this is the most important issue of the loss of lives and, but in order to do so, they have a sacrifice their own future. and the economic crisis has something to which i seriously doubt and they will ever be able to recover from what can you say it's catastrophic and they've crossed every red line. if we look at some of those red lights, military spending, for example. do you think that raising the annual military spending well, the economy in the long time given its past, israel has paused the current military spending level june was before,

and it has always recovered. indeed that there were many crisis in the history of it's right in the 50s, in the sixty's, when is rose and had the more or socialist economic structure before a socialist only for jews. so would say an if not proceed and based on apartheid system. but when there is a scent, sense of collective responsibility and collective and news for the jewish population is read. and there was the willingness of individuals to sacrifice for the greater and collective very survival. this doesn't exist anymore is what has become a highly capitalist economy. is there any, would your listing and is the best educated? is there any, is the most skilled is really the ones for absolutely necessary for the economy or something at so the military spending that is it only a drop in the bucket? what's really happening in terms of this economic crisis and the effect that in order to finance the military spending, israel is going into debt which goes on

a out of control. and he's willing to sell it in bonds, an ever increasing interest rates. and means that as an investment overall is really economy has become unsustainable. ok, you know, when you talk about debt again, the economy is no doubt on the strain deficit as whitening. but what do you say to those who say the projected vive and national debt is manageable given israel entered the war with a relatively low the national debt. i think it's a misunderstanding of the way that to the macro economic indicators of be measured . because in fact, in the things which are impacting is where the negatively are counted as if they were positive. for example, the fact that the there was more private spending and more government spending in order to deal with the consequences of the war in order to how those families were displaced on their homes in order to increase the production in the arms factories . and so that creates the image is safe and recovery is possible and in fact the

collapse of the g d p for example, is now measured and only about 3 percent. and over the last year when in fact, if you take into consideration of the non productive parts of did you do, these are increasing meanings only the increase in g t p. as a result of the crisis itself. as a result of, of dealing with the loss of properties and income, then you realize and then the actual drum and then click on the productivity is far bigger. and without productivity, there was no way to recover from the debt. and there, there's simply no way to generate that income. and because the, the is really is what most, an interested in the economic development of the denver stand them the closest. they're also the ones we're leaving, and just just look into what's happening to that. and staff for these really minister of finance, which is big the spinning as, as these workers are leaving. and because they have lost place in their own account . ok. so you're saying it's very welcome to leave and we know that at least a 140000 as one has full go on at least

a 140000 palestinian workers because of restrictions on them coming into as well. since the world again, hasn't been able to fill this gap with foreign workers, what impact has this had on this way? the economy? there's a kind of arrogance expecting that the people from a developing countries a specifically from a malawi and from india and would be willing to come and take some place of the kind of thing workers and accept and, and very little wages and very difficult a work conditions, including of course and the risk of, of working in a word zone. and but more importantly, the expectation that day is they don't care about the moral ethical implications of taking. and then what thinks of collecting workers will depend on that. and this is and not materialize. the workers did not come in as a result of this, the construction sector has come to a complete stop. houses apartments are not being built in each row because this sector is completely dependent on 1st thing in labor and,

and now we see something very interesting. we see that a why of, and these really economies collapsing, the housing prices are not collapsing. and because there's such a shortage in housing and, and so many israelis are using this to sell their houses to sell their apartment as fast as they can to raise the cash quickly and, and take their money out of the country in order to save their, their savings basically at to save the, their families and, and to those is brand new schools are doing it into thinking that bases the apartments and houses we continue to increase in value. and somehow, and these really economy what we would cover apartheid would be sustained. a are taking mortgages in order to buy those. all right, so that's from the possible real estate causes and the making as well. just lastly, do you see all of these economic considerations having a political impact at will work with the public's advertise full war? nothing. yahoo has to pass a budget by march 2025 doesn't pay as he has but said the government has

been always willing to bend the rules and break the law and change whatever they need. add, they are packing the supreme court with the something to can say judges and support the government. so we actually didn't see how the economic situation has led to the large unions and to call for a general strike. and today they were calling for an end of the war and for that and we cease fire an exchange of prisoners and to the they were saying that if this doesn't come, then the state of is one who comes with end at the head of the teachers who inside my and my children grew up as refugees unless, and we saw the war. and so they have also lost hope. and the government simply decided not to abide by their and decisions because of the political, but by these demands that because of the political crisis, because they are afraid of going and having elections. and what instead they did was to take these very courts that are packed with their supplicants and called the

strikes and you may go and they stop the struck. and but of course, this doesn't change public opinion. you can stop this, right? but people will not then start thinking that the economy will become better to have a thank you so much for your analysis. we really appreciate it. thank you very much . national economic renaissance. that's what the republican presidential nominees says he's offering the american voters with less than 2 months until the election. donald trump has unveiled a sweeping plan to know what taxes bring down the government spending and caught red tape. he would have point the wills which us man eat on mosque to help him transplant as in sharp contrast to that with his democratic arrival in coming to harris. that's law should be based on president's job biden's policies, but will he outperform harrison cutting inflation, reducing deck and spilling economic growth? we'll discuss that with, i guess shortly. but 1st, that's what trump had to say. or i will create a government efficiency commission task who is conducting

a complete financial and performance audit of the entire federal government and making recommendations for drastically forms. we will eliminate regulations that drive up housing for us with a goal of cutting the cost of a new home. in half will create america's own solver and well fund to invest in great national endeavors for the benefit of all of the american people. the reduction in the corporate tax rate from 21 percent to 15 percent solely for companies that make the product in america. to address this dire energy crisis that kamala and joe have created, i will immediately issue a national emergency declaration to achieve massive increase in domestic energy supply. well, let's break down some of those pledges and have a look at how they compare to harris as plans. trump would lower the corporate tax

rate from 21 percent to 15 by contrasts harris would raise it to 28 percent. trump proposed sweeping taxes on impulse center. the united states house would follow biden's policy who's maintained or increased. most of trump towers on china. transplant to cub inflation includes drilling a lot more oil over id as a rec, what high to bring down fuel costs? harris has again stuck with biden's approach to bring down the prices of every day . items like prescription drugs, most candidates have propose plans to low a housing costs, the pen bolton budget model that the university of pennsylvania says plans by both candidates would increase the budget deficit. but tons plan would add almost to 6 trillion dollars to it over a decade, compared to houses just or the one trillion as well that spring in august to discuss this further, joining us from london is greg swenson. he's a founding partner at mission bank. break. mcadam and just also the chairman of

republicans overseas and in washington dc is palo fonts. kara, he's the president of the global policy institute, think tank, we have discuss houses, economic vision with you both on a previous episode. so let's follow up on that. as we discuss trunk policies, greg, i'll stop with you in london. it's not just the pen wharton budget model full costing that. trump would greatly increase the deficit. others have said this, goldman sachs sacks, one of the world's biggest investment banks. recently said, trump with slow economic growth. what do you think of his plans to the economy especially compared to houses? well, i think, you know, there's probably it's probably some partisan influence at the pen, martin as well as the goldman sachs. and i think they, they would probably look more at, at the dynamic growth that follows tax cuts, for example. and in tax revenues end up increasing. so i think if you look at it

a step from a static point of view, yes. come, all of you could argue hers. there's only one truly instructions. 5 truly tax cuts work and they work for the trump administration, especially after they took effect in 2018. 2019 was a seller year, so i think he's got the track record. i totally agree with the corporate tax rates cut and that's, that's always beneficial. it's in the economy. it's better for workers, it's better for customers. it's better for shareholders. so it's worked before it worked in 2018 and i'm sure it would work again. i'm a little bit soft on the terrace. you know, terrorist as, as we all know, are taxes ultimately on consumers? i think they're fine when they're selected, when they're specific towards a, you know, a, a dedicated cause like the unfair trade that was, that was occurring with china. so that was not free and fair trade. so i thought it was totally justified to put some tariffs on the chinese and i, and that's why the button harris administration kept those terraced. but i do agree that you know, just across the board terrace on your allies,

on your bus trading partners is a mistake. okay, just on the 1st point that you made, you think that the pen was and budget model, even goldman sachs that they might be some passes on analysis here. what about the non past on committee for a responsible federal federal budget? what said the house has plan, could add $1.00 trillion dollars to the us deficit over the next decade and that trump would cost taxpayers about the same. yeah, and again i to, it's hard to look at the static models that just look at the, you know, the actual, you know, simple math on, on how much is you cutting taxes. but you have to look at the economic growth of follows. and you saw a tax revenues go up, tax revenues in the us are all time highs. they're way too high. i think spending is a problem. i'm not saying that trump and other republicans are totally innocent on spending. but you see the rapid expansion of the deficit since bought and took off as you know, get, you know, these reckless spending plans are all going to the depths that we're not paying for

spending has to be caught in i, i, i can't promise you to the trump will be as good as the tax, i mean, not spending cuts as i would like, as a conservative would like. but i have to think he's going to be better than any democrat, but especially kamala harris. potter. what do you think of what you've heard? sofa, a lot of this stuff has been said before tried and failed regarding the 1st of uh, touch guns that occurred under under trump one they increased the doctor said they did not check the 8. well, you didn't have the revenue growth so that some people magically think is going to happen. so the idea being, if we kept taxes, there's more economic activities, which bound the tax base, i guess what? lower taxes, but more revenue. that didn't happen in 2020. this girl, whether not be right before the beginning of coverage. if we forgot truck presented a budget with the economy, essentially pulled employment and growing

a pretty decent clip about 2 percent. that's when one trillion dollar deficit. ok. this has missed it from 2020. the covey happened and everything went up, you know, in a different place, because the government was forced, under trump, and also later on and dividing to pump liquidity into the economy. because as everything had frozen on account of coverage. but the notion that there is going to be any spending cuts under on the truck is delusional, particularly because there's absolutely nothing in this plan about right for me, entitlements spending, which, unless we forgot possibly to 70. and i repeat 70 percent of all federal spending to say i'm the point to you must ask the person who will bind all of the don't the waste and the excess regulation and the simply by

streamlining policy. that's a great idea. i find it ironic that she would get a point to a billionaire was made money precisely on account of regulations of a set of sides and types of preferences for electric vehicles. which by the way, the republicans in general of 8, because they think that you think there's got to do in the green economy. and that would include electric vehicles that are up against america's interest. and it seems we're talking about being tough on china. let's not forget that mr. musk makes automobiles in china, tyler, just lastly, despite the inflation of being down, despite unemployment being down, you know, the median household income being up for the 1st time after a 3 year decline. the polls show versus still trust. trump move with the economy, then come on the house and the election. how does she or the come that despite favorable numbers as well?

uh, just for one, let me mention the initiative that she has unveiled uh a few days ago about supporting the uh, creation and the growth of small and medium enterprises. uh and, and she put this under the banner up, but it cannot make, i'll put you need, i think that is a great idea because the country to what most people think america is not made out of but general electric and ibm and google and x on and, and an apple is made out of a new norm as a texture environment. oh, small and medium enterprises, which are the biggest job creators in the united states. so her plan to boost, as i mean, ease, ease of something that i think could be extremely valuable for the economy in general, because that also means and that follows, i guess what mr. trying to do with like, do you regulation, limiting the amount of paper work and, and red tape and what have you,

that any small entrepreneurs in game that isn't what that's, i wouldn't be small interpreter in the united states as to navigate. but i think this is something that you resonate with middle america and quite frankly, with republicans what's, what's, what can be in a position to growing small businesses that which are the life and blood of the old economies around the, the 50 united states. the fact that at the moment scale, we'll have to see what happens after this a debate in which quite frankly, trump didn't manage to explain any of this. uh and uh, and that, according to paul's, ms. harris seems to have done a lot better and we'll have to see what happens between now and the elections. which message resonates more with that with the voters. and by the way, we're talking about the reducing the corporate rates at to 50 percent, but only for companies that produce everything a 100 percent in the united states. that's a joke because nobody does this as

a globalized economy. i would, i would be hard pressed to think about companies that use their entire set of inputs on us based supply chains, making right, one or 2? sure. we have run out of time, but thank you both very much for your perspectives on this. that is a pile of on screw out in washington dc and greg swenson in london. thanks again. china is seeking the cost itself as a leader of the developing world president cheese and paying welcome to more than $50.00 african leaders to the forum on china, africa cooperation. last week, he pledged more than $50000000.00 in financing for the continent and to help create $1000000.00 jobs. but western nations and other critics accused of aging of lowering african nations and unsustainable debt among them as the us, that's back linked to re gain influence in the continent. a report by gallop says americans, popularity is waning,

and africa while natural china is growing. veronica pedrosa reports, smiles and handshakes as african leaders gathered in paging for a tri annual summit. they came to badging in the hope of striking business deals, and china says it's ready to be the trade pump. the for the continent. we live signing it. over the next 40 years, the chinese government is willing to provide the financial supports amounting to $50000000000.00 to africa. mean view of china is africa's biggest trading partner. last year, total trade between paging and africa accede is $280000000000.00. china has invested heavily in infrastructure projects and in the continents rich mineral deposits. in recent years, african countries have borrowed heavily from china collectively, owing paging some $30000000000.00 on the list, say china is giving africa nations new investment loans so they can pay back old

ones. what it's intended is really to invest in at least in syria, into areas that generate growth. i'm facilitating other on what investment in economic activities such that those loans can be paid back by the return they generate leaders. it says trade relations between china and africa, a good for both sides and denied, but china is debt traffic. the confidence i don't necessarily buy in the notion, try to say, invest in change of in the and those countries end up in the debt chat time since china is also in competition to influence on the continent with the us. and the summit comes as weston countries impose hefty terrace on imported chinese goods,

mike electric vehicles and solar panels. and with africa being the fastest growing continent china and they have a ready alternative market for its goods. veronica pedroza, i'll just era for counting the cost. and this is a highlight of the week oil price. why does it remain some dude, the spot production cost since 2022 geopolitical intentions in the middle east. and the halt in libya is output and total opec pos has been holding back around $5000000.00 barrels a day or around 5 percent of supplies to pro pump prices. but the spot that the price of brent crude, the international benchmark, has full and to around to $70.00 a barrel of last week. that's the lowest since 2021. the oil producing group led by saudi arabia and russia has recently decided to delay plans to restore output by 2 months until december. that's because of that was flowed back into the market a lot would follow. and that would push prices further down the decline in prices

office. some relief to consume is feeling the pinch of high inflation. but at least the price is too low. if the saudi arabia and other nations to cover the government spending much of the dropping process has been attributed to week demand for oil, particularly in china, while the world as well stocked with supplies from countries outside or pac, including present canada, diana and the united states okay, plus may have prevented and of a supply with the delayed tapering of its output costs, but it's unclear how much longer the good continue barrels off the market. major oil producers, target oil price about $80.00 a barrel, while others want higher production to boost investment. and that's actually for this week to get in touch with us on ex, formerly known as was a, i'm at this put on them and do use the hash tag h i c t c. when you do will drop us an email counting the cost of allergies. they don't match as i address. and there's more for you online as i would just say or

adult. com slash ccc that'll take you straight to our page, which has individual reports, links and entire episodes for use a catch up phone. and that is it. so this edition of counting the cost, i'm elizabeth put on them from the whole team. thank you for joining us. the news on algebra is next. these things to reason. the corruption which is the selection that the best news from across the world, the average person to know what the truth was. scientists dismissed as profits of

do. we knew where the temperature was going to go by leaders seeking the profits of industry. they were publishing reports saying this is not an urgent problem. could we have changed the course of the climate to emergency? air is dying of most of the futures on outages era. the challenges here with the

. ready the 9 people are killed and nearly 3000 wounded as electronic pages belonging to hezbollah. explode similar tenuously across a level. hospitals overwhelmed 200 and that was injured in a critical condition as the land is right. the other ones are in jordan, this is all just a real life and don't lose that coming up as well. launches yet another kind of reputation from john. many palestinians are left buried under the run revenge

attacks. and molly, off the gunman, someone i'll kind of link to group a. so electric targets in the company.