the, the is riley strikes, kill nearly 500 people, and 11 on, and the deadliest day of cross border conflicts and almost 2 decades. the color line sort of fight. this is all just there a life from the hospital. so coming off on the program, same kind of across the 11 on thousands of people see waves of his radio for kids at the time. the

hezbollah fine is dozens of rockets into is ralph, this is randy defense systems in to set most of them. and no response for palestinians in garza and its hard families wiped out among 24 people killed across the street. the well we begin and 11 on we're close to 500 people have been killed and the dead last wave of his really strikes in years. so to 5 children hands $58.00 women are among the dead. health ministry says and 81007 hundreds, have been injured. tens of thousands of leading towns and cities along the southern border with israel. then uncle, there begins coverage from ty and southern 11 on of israel has significantly escalated this conflict on leasing one of its most intense and

wide spread air assaults on lebanon. in decades. the strikes came in waves, one after another, across southern lebanon, as well as the east. these are areas where has the law has a presence, but these really military strategy appears to include attempts to cause a bigger displacement crisis. okay, there's a lot of time, a car, people are making their way out of this area. a few minutes ago. there's been another air strikes. you can see the smoke these the air strikes have been happening since the early hours of the morning. in fact, in recent days, and we are very, very close to the southern city of tire fighter jets are also hitting with isabel, says are has the positions on the highway leading to the capitol. they route these rated army says, this is just the beginning. people are leaving traffic almost at a standstill after israel ordered them to leave areas where it says hezbollah is

storing weapons. already this, nearly your long conflict has displaced more than 100000 people from 11 east villages along the border. but the un says another 150000 live about 10 kilometers north. like and garza is well seems to have decided once again to put civilians in harms way for over 20 years. please bala has deployed its arms inside of homes and militarize civilian infrastructure. as a result, this is palletized organization has turned south in lebanon into a battlefield. isabel stated, we're objective as to return residents to their homes and the north of the country which has below has repeatedly targeted and support of palestinians and gall. so the strike, there's a lot of chaos here. they are very that there's going to be another strike. 70

citizens are being killed. hundreds injured among them, women, children, and paramedics hospitals have been told that the school non urgent surgeries and treat people injured in what the officials called israel is expanding aggression against lebanon. parents were asked to fetch their children from school after tens of thousands of people received calls from local numbers, warning them to evacuate for their safety. as well as accused of using psychological warfare to create chaos and spread fear among a population already on edge. we said from the stand that we did not want war and he's belie later us on this role. i see that we did not want to bomb civilian and we have 4 main military positions. but by our treacherous criminals, they crossed over lines. the nearly relentless strikes, having prevented hezbollah from launching rockets across the border, is already called this an open ended battle of reckoning. then there was a 0 tire southern left and on, as well as go straight. so all of a mazda,

in whose life for us and they root that seventies capital, all of a, what's the latest that you're seeing or hearing from where you are given that we are now in the middle of a 9 to 11 on right? yes, i mean it's 4 in the morning local time and in just the last hour they've been report . so who is really strikes on $711.00 and that'll be strikes that coming off the hezbollah announced for that fight is long range fatty. one of ready to roll kids in israel, they say they were targeting a military airport in israel, west of a fool. now this in time comes in response of to an expensive forming campaign by these really matri across, letting them stay a started in the hours at about 6 am local time starting in the south. and this is followed by strikes in the back called valley. i'm involved back in the north and then this the target to the assassination attempt induction in southern favorites. this was intensely populate today or it may civilians live there. and these really

ministry say they were targeting ali to congress. now has a lot of to destroy. they announced that in fact on the car, it was not hit that he was fine and i quote in good health. now this is boeing, campaign has caused immense damage across the country, but the civilian told right now is on president $2.49. 2 people have been killed in these is really strikes including 35 children and 58 women. it making it the deadliest, they never known as history since the civil war. yeah, douglas day since the civil war is you said the lebanese aren't used to dealing with many, many was in the time. what's the reaction been started fall from the public and what have we been seeing industry center earlier in the day? there was plenty of traffic jobs given the lebanon, isn't not pick a country with people trying to move from the south to the north.

me. yes, of course, i mean the reaction from the public at 1st this morning was panic. as you said, that was huge numbers of people trying to had know the highway that leads from the south from the cities of sol inside the up to a route was completely john packed even up until relatively recently this evening. now right now on the streets a very, very is a kind of where i called a cautious com. that was still people arriving. i've actually still seen people arriving and they were from the south. i'm just now, i can still ship it. is there any drawings buzzing overhead? so there is a kind of course as calm, but there's still a lot of fear. i mean, it's option of reactions. a antonio gutierrez, the un secretary general, has said that she is gravely alarmed by this escalation and also a prime minister. now she hottie, he is called, is there any strikes today?

a genocide in every sense of the word? so there is a lot of fear there is a lot of anger and people are really worried that this a conflict could escalate even further in the coming days. yeah, i see said that all of the potential for more escalation starts and the about. so the way it's been heading with is role sending out a warning to the residents of lebanon to evacuate a lot of those southern towns and move further north. uh well let's go straight to homes of social, which is life for us from amman and jordan. of course, that's because these ready government has funds eligible elves out 0. the raw, the from reporting within israel and the occupied the west bank. how does that? what has a is robin saying about this? and as oliver was just mentioning that more and deceptions being reported from rocket 5, it's come from 11 on tools as well. that's right.

has well a claiming responsibility for this latest rocket barrage that hit several parts of northern israel and made it in its way into areas a little bit more south like now the red several interceptions overhead. now, there are some reports of a little bit of damage from the shrapnel, from iron del interceptors, but still no more information at this time. but when it comes to the events of the day, these really governments and military alike have been quite stern in their rhetoric . these really prime minister saying that his role is not of war with the lebanese people, but the situations in 11 on over the last week, especially within the last 24 hours speak for themselves given the civilians who have been killed in the chaos that ensued. as a result of these really bombardment. now these are all defense minister. you'll have galant, has said that israel has delta a severe and significant number of blows that has both capabilities and of actually knocked out a certain percentage of their weapons stockpile. a stockpile that the army chief of

staff says his bullet has been ready and for nearly 20 years when it comes to this escalation, israel has said that nothing is off the table. nothing has been ruled out and they are prepared to continuously fight, even if it leads into a full scale war, because they have launch this offensive. they have given it a names, calling it operation northern arrows and said that they're in a new type of security situation. so that they can have new emergency measures and laws when it comes to the situation in the north and how they want to move forward security wise. so a lot is still hanging in the air. of course, people on both sides of the board or waiting with bated breath to see what's next. what israel says these attacks are only going to intensify sorta. yeah, certainly. and will be interesting to see how we, they move forward in the next few days, homes of thoughtful that reporting from mine because we've been banned from reporting and as well to well,

us state department spokesman is sold out to 0 that it's diplomats all in contact with not just the lebanese security officials, but also is really one saying that they are in contact with them around the clock. and they want to prevent further escalation in the region while an official has moved from washing t washington. rather d c on not just in the last though, we've had the and to be blinking, has met with the iraqi prime minister. and during their discussions the discuss highway they could be escalate. what is happening in the middle east at the moment? certainly the united states don't see any magic in this idea that have been put forward by the feelings that they're going to escalate to de escalate. and the say that the moves that be as early as are making to build up their forces on the border, which some see is a precursor to grind invasion of southern lebanon. they don't think that that's helpful to tell us. so they're using all the diplomatic reverse they have. we had from joe biden, who was meeting with the president of the united auto pamphlets. he was in the

white house a few hours ago. and he said then his team were working around the quote to try and de escalate. the simply don't see what is happening there at the moment as a way to de escalate. what is happening across the region, the outside, the extra forces to them at least know details on how big those forces will be or what role they will play. but it's clear that the americans are deeply concerned with what they've seen over the last several days on these really lebanese border. it will that spring in rich outs, and he's a geo political unless i'm a senior fellow at the atlantic council. joining me live from washington d. c. thank you so much for joining us. rich as you, we had that. certainly we've heard this from is really minutes. resources saying that they all escalate, seem to de escalate, then you have the us sending in more uh backups if you like. 2 of them at least because of the concerns of attentions. what is that likely to look like when the us

says that it will defend its allies and partners in the region or at? well, it's going to be with you. i, i think the, the us position, the tacitly and implicitly is that we, what is real to do what it thinks that needs to do to set a new step stable status quote in the north. but we don't want it to involve a direct. so conventional war with iran, frankly, is so we ron has pursued this strategy over several. ready years if not decades, of using proxy, just like his bullet and a moss and at a certain extent and of course their, their, their proxies are also local movements in their own that's, that's a, that's a discussion for another time. but the, at a minimum, they are within the coordination of the iranian military, a enterprise. and that includes that who these and you haven't so, so i think united states is basically saying uh, we understand that it's, it's unacceptable for is real to have tens of thousands of its own people displaced

from the north. and they may have to continue. ready to, to escalate to a certain point to get his bullet of background from its launching of of rockets and missiles and making life on livable and northern israel. but there is a limit even to what the united states will accept from is role. because they don't want to see, certainly under the current management in washington, something that leads to a direct, a more direct were between iran and israel. yeah. and then i was actually listening to as right media earlier. and in that they were having a discussion where they were talking about what's the next step saw the scenes, the public seems to think that they expected a much bigger response from his ballasa to me when they've been attacked. so this for us at the, by his are on the last few days. and so it's, and they're expecting a big of retaliation by iran. so that's saying the some of these on this was saying that it isn't a fully fledged will not despite the european union's a lead address that bro saying earlier today, we're almost in

a full fledged rule. all we likely to see ground troops is ready to ground troops moving in. and they have obviously been training. so it's in the, in the last week and earlier in the they were training for any potential conflicts and who we are now. what are your thoughts on that as well? i, i personally interpreted the strikes the, the beeper strikes and the walkie talkie strikes and the air strikes as preparatory, at least opening the door to a larger ground operation. why? because you've essentially damaged that come out of control capabilities of his blood to resist if you wanted to do that. and yet i pay heed to what these remedies themselves are saying. and i think he is really messenger is honest, which is that they, they, their goal politically for netanyahu in his government is to get stability in the north so that they can send their civilians back to the border communities and say, look we, we forced his below and the iranians to back down. so if entire on and,

and if in the counsels of his bullet they say look, this has cost us enough already. we need to go ahead and lower the temperature. i think israel's willing to lower the temperature at that said they're, they're also preparing it for the turn effect, the ability to do ground operation that we've seen in 2006 round operations in southern lebanon are not easy. and even though they've been inflicted great damage upon his blow already, and it's kind of hard and i'm not sure that any is really government would want to jump right into that if they have an option. yeah, it's pretty much. yeah. so in terms of grow, just because i have to wrap it up quickly, but in terms of ground troops, is that even though the saying that some of those battalions have been sent to the north, have been serving with the military in gaza all quite fatigues and tired as well. yeah, that's certainly part of it, but that also happened in 20062006 there was fighting and gotcha. and then they shifted forces to the north that can do it if they need to. but my guess would be

that they would far prefer the deals really. yeah. and, and tell them even jerusalem, the military authorities would far prefer to have a has belie and ted wrong. take a step back and say ok, that's enough for now. mm. okay. uh, thanks very much uh, rich outs and so much to on pick that thanks for your expertise and you are a political analyst from washington dc. thank you. what didn't goal is or is right, it strikes of kills at least 24 people over the last day. and the time on a home, in data by law, in central goals that killed the mother and her 4 children, and his radio strike also talk to is a residential building in gauze, the city leaving several people stuck onto the russell mazda of floats, has moved from the north of the gaza strip. as a result of the heavy releases of tax on shipping a one neighborhood, a whole building belonging to the company in a shifter, one neighborhood has just collapsed on its residence. so the entire time at least

temp on the wall. the little that the 25 civilian office on the, the 100 shivers events forces which are trying to rush to the people who still drive on some spot. the they've got to find that there is someone who was alive. he said, help me. there's anyone outside and there are trying to rescue him twice. now as a calculator to see the best job. this is the level of disruption. the at the civil defense force is off using basic equipment to risk you. all of these people fail inside and on the the level. so as a result of it is a heavy act. tax the buildings and the ground all shaking the buildings are collapsing. i wasn't going to new jersey to assess the neighborhood tal assigned. so i head on the program, so i'm kind of has a new president,

but can he pull out the country from it's was 6 nomic crisis since independence. the policies in washington dc with a to make and a painting for unity for people who are struggling out as a way to meet the palestinians seeking inspiration for striking news in the heart of the american capital. the benefit of street art is a kind of conflict of where he's planned for universal work. succeed. we're getting the colors on out is the era, the the,

[000:00:00;00] the welcome back to watching all just a reminder about top stories this now. 11 on his radio types of kills nearly 500 people and injured almost a 1700. it's been the deputy a stay of his randy, a tax on that. and on, in almost 20 years, tens of thousands of people are fleeing towns and cities in southern lebanon and heading north schools and universities have been close to hospitals overwhelmed. and israel suggested that we'll be moving these ready minutes recess has gone the notes over a 100 rockets on monday with some reaching the northern city of hyphen israel says most of the project calls within steps advance a few hits residential areas. at least 2 people with insurance, not addressing the un general assembly fronts as foreign minister quotes for an

emergency meeting and the security council to discuss the financing between is ready forces as well as has the law. as it does, those are both super you've been. i'm thinking of the lebanese people as is ready strikes have just killed hundreds of civilians including dozens of children. these strikes conducted on both sides of the blue line and in the region more broadly, must immediately and fronts once again calls upon the parties. and those that support them and to de escalate and avoid a regional complication that would be devastating for everyone. first and foremost, the civilian population for that reason. i have asked for an emergency meeting of the security council on lebanon this week. as well as escalating conflicts with has well on its 4 on gauze are expected to dominate the un general assembly, which starts in the coming hours. stories about has moved from new york as the united nations general assembly begins this to stay with over

a 190 representatives from around the world and over 70 heads of states that will be participating in the general debate here in new york at the united nations headquarters, the agenda, however, seems to be controls with the ongoing situation in the middle east, especially the world garza but also the escalating a situation in live and on right now for the past few days. what's been taking place here is the summit of the future were already some of the was representatives . we're able to speak and express about concerns about the situation and the world today. we heard a house representative from 11 on back to heidi who expressed her concerns about the situation and how country and the eastern is you because the prime minister, nat geo mccarty is working with the government and government teams to deal with the question that we all victim to its own levels, diplomatic humanitarian health, security, and also in terms of people's livelihoods. we're seeing

a wave of exodus and the targeting of residential areas. and that's also frustration here at the united nations with the un, but also the security council's inability to help solve some of the world's biggest conflicts, including the worries done to warn you clean, but also the war on guys i'm. that's why they're growing close to reform. the security council. we need greats of collective assets to prevent and, and conflict for britain and that means upholding ukraine. sovereignty, judging and immediate c saw in gaza, elaborate and supporting an ad to the fighting. and so that it means robustly challenging member state to violate the job, to rejecting a well which might makes, right, that means a bull representative security council. that means supporting the international of, nor, and applying it equally. and friend, this is going to be an interesting week here at the united nations with lots of diplomacy,

lots of bilateral meetings. but at the same times or lies on the situation in the me least, especially with a situation in live. i don't, it's, i will, i just need a new york, the moving sale. the news a small synonymy has been seen one of japan's remote islands off turn. us quake the magnitude 5.9 quite strongly the is the islands chain from a how to shallow depth of 11.7. columbus is around 25000 people live on the small pacific islands. south of type 2. there are no reports of injuries or damage. federal prosecutors in the usa, they ain to charge a mine with the attempted assassination of republican presidential candidate donald trump. 58 year old ryan roost was arrested in florida earlier this month. he was hiding with a gun at the form of president golf. course royce has been ordered to remain in

jail, pending his trial for justice, have thrown fine car, cuz mexico's interior administrator during a demonstration done in the mountains of justice for students missing 10 years ago . 43 of them went missing and southwest and mexico officials say they were adopted by corrupt police, colluding with local drug gangs to the 1st left wing politicians to be elected president in sterling cars. history has been sworn in no camara. the son yaki is from the same change and of corruption on economic reforms. now fernandez reports from the capital columbia. i see the problem with making it official after a roller coaster campaign to become philip as president under the commodities. the knock i took the oath of office before the chief justice on monday. the analysts say his promise to route out corruption was one of the leading sectors and he's

election victory. the ones that were thought we must move on without corruption and fraud and we expect those who were involved in these activities to be brought to justice. if not, well, this leaders will face the same face of the time. we alternate between the 2 main parties and suffered at the hands of both with no relief. but we think this one will make a difference. this was one reason for the increased support for this on like a many said they believe he's pledges to change the system. that's a decades posted cronyism, this the politics and corruption as well as a collapsing economy. the result of unsustainable debt, financial mismanagement, and then he can only down to an after the 2019 east. the bombings and the corona, vita spend demik, the new president was frank and explaining his approach to the challenges ahead of the mind that i gotta keep moving. i'm not a magician, i'm an ordinary person born in this country. i have strengths and weaknesses,

things i know and things i don't. but my biggest priority is together with capabilities and knowledge in order to take the best decisions have been all together and looking at this country this on because bought the launch to the uprisings against the stage in the 19 seventy's and eighty's. but he has been in mainstream politics for more than 20 years. he will tell me what i need in the logical further or whatever, which is, comes from the rank or fire with pragmatism. and i think that is what to use essentially as an alternate id log. he's come to do a job and he will see it in terms of the demands of that job and do whatever he has to do to ensure that the job gets done. that's what many here hoping for the people want to change. they have got the change and must supported. the president says, every citizen has the responsibility to end the cut in crisis,

and he expects them to fulfill that responsibility to years ago. the presidential secretary at building was overrun by she long can demanding system change. today, the man that's promising to bring that change has been thrown in as the 9th executive president of the country with the hopes of a nation on he showed us fernandez, which is 0, colombo, lots sit from me, sort of heightened with i'm back in less than i'm also now on the news continues. the knowledge is there off the account 6 across the you have a lower the, let's have a look at the weather across north america and offer what we can for western parts of canada. we're all going to see more rain and some stronger wind starting to move in again on wednesday. the tail end of that system will also bring some showers to the north west of the us, dipping temperatures down for the likes of seattle, with the current

a feel coming in for california as well. but largely drill nice guys here and very dry a cool central parts of the us will see temperatures picking up slight ethan cities like minneapolis and chicago. but it's very wet ahead of that for the likes of the beast and canada, the great lakes, some storms popping off across the southeast. and we all seen the development of a system that's likely to bring some very heavy rain. so the likes of florida in the days ahead. yes, we've got lots of tropical activity across central america. um the carrier being that was topical depression 10. it's now been named a tropical storm. john is going to bring some very heavy rain into the south west of mexico, the chance of land slides on funding for places like what haka. and we're watching the development of a potential storm moving from the car, being into the gulf of mexico by wednesday to weather update. the

thing. what has happened to guys since october 7 has been cranky. i'm so ashamed. i'm so ashamed because it's being done in my name, a leading jewish voice speaks out against israel bruce to own gaza until palestinians are safe and secure. ease reilly's never will be and use never. no to my name. witness on l g 0, the the hello, i'm adrian. instead of going on, this is counting the cost on, i'll just 0 you'll. we can look at the world of business detox this week. a pivotal moment for the us economy. the federal reserve costs interest rates for the 1st

time since 2020. so how will that affect americans and the rest of the world? the cost of 10 drugs on the medicare insurance or the u. s. as low a big pharma says, the price controls could hurt the development of medications, but when it's china is retirement, age is among the world's lowest, but that's about to change. so why is paging making its label forced work longer? it is seen as the clair is signal yet, but the central banks, a winning the fight against inflation. the u. s. federal reserve joined the other banks around the world and lowering the cost of borrowing with a bigger than expected cost of half points. the policy shift by the fed box of turning points in the economy. i am for americans who have suffered with a high cost of living over the past few years. the feds been trying to strike a balance between cutting price increases and not touching the economy in the process, while prices have eased the victory may not yet be complaints. the next question,

the fed as nonsense, is how quickly it will come rates again to avoid a recession, but without fueling inflation comes on the home and reports. searching for the rest of the landing for the us economy. the federal, if it's a lower interest rates for the 1st time in more than 4 years with the us labor market showing signs of weakness. the federal reserve hopes this move with a shock with the economy. today, the federal open market committee decided to reduce the degree of policy restraint by lowering our policy interest rate by a half percentage point. this decision reflects our growing confidence that with an appropriate re calibration of our policy stance strength in the labor market can be maintained in a context of moderate growth and inflation moving sustainably down to 2 percent. before these rec of defense had great interest rates 11 times since at the 2022 banks,

both of us consumers and company suffered the average interest rate on credit cards jumped on the old time high rising from 16.34 percent in march 2022 to more than 20 percent today. the higher rates at the desired effect. and the inflation rate, these from a peak of 9 percent to 2.5 percent. but the job market slow and the us economy now is forwarding into a session. if the economy is not in a recession, the market tends to go up roughly 10 to 1210 to 15 percent. and if we are in a recession, the market tends to go down about 1015 percent. so really is 2 different dress like dif, different and binary outcomes. from a potential standpoint, in terms of what the stock market may be doing in terms of the reaction, despite the caught in rates who had 4 policy weakest and the us economy remains and setting us have them have the data for counting the cost. joining us now from this

convo is to me about whose chief analyst at online trading brokerage g t secretary with this again, it was a big cost. many of us had expected. what do you make of it? indeed, it wasn't richard. in fact, it was a logic interest rate cut. the analysis on the economist expects the line with the fed leaving by note when 5 percent of 9 i'm the interesting thing i actually got injured was that the fed us central bank was supposed to get this party started, or the train journey towards low interest rates. in 2024, we're expected for the timeframe for an interest rate up to occur as early as lanes and early 2024. that's how long we've been waiting for the states. but in fact, the c, b, the opiates central bank, the bank of england, of a develop central bank is, have or stocks at this policy. but the fed tried to stop last night with a bang. i buy stocks and legs. why did this type move so late? is because of step and us with inflation. i've always such

a use of metaphor for inflation. we need to look at as the diets inflation was cause the double digits. and the us as early as late as 2 years ago. and it was around 10 percent. so it needed to lose a lot of weights and sometimes you get when he comes to a diet, we move towards the 3 percent. we lost a lot of weights. but for january, up until recently, that weight loss stored around the free present level. it was only this month, indeed, the inflation starts to move towards the middle, cheapest sense that allowed the fed to finally pull the trigger. but if we compare it to the likes of the yoke in union on the united kingdom, inflation has trended. but towards that 2 percent target sooner, which is why they weren't able to move 1st. but the fed has moved last, but it is also moved by the big the interest rate. but i had no point $0.05 against be obviously moved by not pointing 5 percent. so how fine

a line is the fed treading now, what are the dangers of, of the, the us forwarding into recession. that's a long way away, aged last year. the us economy was purchasing growth because similar to emerging markets of one point, it was close to 5 percent. even this share seems to around the $2.00 to $3.00, but some level um we have to also take into account the us economy instructed somewhat differently. consumer spending accounts for the largest component of us to the bay and could serve as a store spending in the us. however, they say there's no smoke about the buyer. and recently from august onwards, we have had a balance and an economic dates up such as 2 week long fund payroll reports, which is the monthly employment reports they come in much worse than expected. and some of the i a, some dates are signals that global weakness is impact in the us. so we do have some concerns with us economic events and bullying by recession. there was a long way away if the opposite tool. of course,

we never say never. but those are all by the fed moved from larger than expected is also tried to provide the message that is in control of the situation. and it is prepared to provide the medicine for low interest rates that the us economy might need to understand some potential pressures is going to face between now and the end of 2024. and do you expect the fed to move again in the coming months before the end of the dipping into account the discharge moved aggressively last 9. i'm financial markets were expected 100 basis points moves to share. that means one of the sort of an interest rate cap, the fed as possibly the, i know that they have moved more than we expected. we could expect for that to be what the interest rate got over the course and the remainder of the share. it also comes down to the economic data, but the federal show last night is prepared to be aggressive. so now the inflation c is to be in control. we have to look out for the non 5 k rows of bolts, which

a bunch of camera view is the monthly job for books that come out in the 1st friday every 3 months. we have to look at the us consumer data and the p and my date, sir, but i do expect to fetch me one more time overall unlikely before the us presidential election, pull out, rejecting is going to make the global outlook and the fed outlet much one flavor of the 2025 on woods. right? so the us economy is the largest in the world. what does a rate costs in the united states main for the rest of us? well, we have to consider that it was actually the us interest rates that move 1st after the russian ukraine crisis because the inflation shock that we haven't seen in decades. so the fed being able to move to such an extent that provides some confidence that hopefully normality is resume. and of course, since the mid to thousands where we have the global financial crisis, all of us globally got used to low interest rate policy. i know that and many of us have not seen interest rates close to 5 to send in a generation and opened many view is not lifetime. so now that the effect is

starting to move and us rates are starting to move, it does provide some confidence that matches might be getting back to normal. but i still think the newer normal will be a more moderates or higher interest rate. want to say, i don't think we're going to go back to was the one percent we might need to set to somewhere around 3 percent interest rate policy. but hopefully that gives some confidence to award economic but nice. and that does need some supports jermaine. it's always great to talk to you manufacturing day for being with us. again, i'm counting the cost a democrats presidential nominee a couple of hours just hoping that low a drug costs could help her. we know the votes as americans pay more for prescription drugs than anyone else and at least 33 high income countries in 2022. the annual cost of those medications was around $1400.00 for each person. the biotin harris administration has reached an agreement with drunk make us the lower prices on the time costly as drugs under medicare health insurance. the deal is

expected to save millions of enrollees around $1500000000.00 in out of pocket costs in the 1st year. well, the agreement which will take effect in 2026 as part of sweeping changes on the binding signature economic package, the inflation reduction act, company price has been in effect last year. medicare would have saved $6000000000.00. the pharmaceutical industry has unsuccessfully trying to find voltage to stop the negotiations. pfizer, among other companies as well in the lower drug prices, will affect innovation and how the development of cancer, drugs, and treatments for other diseases. we're drunk, like a say that developing a new drug costs billions of dollars and involves a trial and error process in which many ideas failed to make it to market that supports as of the buy and how his drug price reform point to the industries sky high profits, the global pharmaceutical industry generated almost $1.00 of the half trillion

dollars in revenue in 2022 last year drug manufacturer at bristol myers squibb posted 45000000000 dollars in revenue. not reported around $60000000000.00 in sales . and johnson and johnson rating more than $85000000000.00. joining us not from atlanta in italy is andrew father. he's the head of global public health initiatives for oxford in berlin, and a senior fellow at ox with mountain and school. good to have you with us. i just want the drugs cost so much in the united states. when the u. s. has a different system from many other parts of the world. i'm only based in the u. k. and we have a, a, a institute called nice to regulate c state and some puts things through a mechanism to west have what the effectiveness is. us doesn't have that kind of centralized monopoly control or pricing. so what you just described is a kind of an innovation on that you have to in fact go through the new regulation update, but the level of the government do you have to put,

has to put through an act in order to do this. so this is meant, you've just quoted a price that's like twice the cost of uh what it costs the patient in the, in the country like from, for example, i don't deal with say that you read us is a really quite medicalized dakota. me to it's, you know, medical factories about 4.5 trillion the, and the, the drug sites are, is a bit of very big chunk of that's not, this is about controlling that cost that, that cost in the equation prices for new us drugs last, the new new was coming on line was 35 send greater than the previous year, and we have a record of they have a record number of blog best as the the, the mechanisms to keep prices on the control and the bathroom pads of a pulse of the world. so this new inflation reduction, i get both an opportunity to, to, to tackle this my, my particular take home. this is the, you know, this is

a move in the right direction. but it's actually quite a small part of the equation that are much big are more important things that, that could and should be taught to control that grade level of price is this, the reason is become pressed to, to degree by, by political parties. this but this has the potential way things are getting into the next 51020 years to bankrupt. the, the systems for providing healthcare in the us, big farmers warning the, the forcing them to lower drug prices or go to sell them for less is going to disrupt innovation all the rights or all the big pharmaceuticals prioritizing profit of a health. you know, the right one to be quite blunt. that's and that's right. and they, they have to say that the, that the defend the position. i noticed that when this was announced, the shaft price is becoming permits. hardly botched. in fact, they probably went up around about this time, they reassured what the shoulders this wasn't going to have stopped picking in. pat, relatively speaking, is that so this is quite a small measure. um, i know,

you know, to, to, in your introduction that have these prices been in effect a year or 2 ago, this would have save 6000000000. well, this is going to come into effect in 2026. the reason is that we have to allow the legal process to to go through its cost. so if you do the price and you look at the, the rising prices in embracing yes, the, the savings of topics i don't know, you know, really just wiping out the increases in, in, in recent process. i've talked to the, actually, this is almost okay. it's the trouble ticket, so there's always too much easy money in the system for pharmaceutical companies at the moment in the us. the regulatory system is, is flooding things through that doesn't have to write and take a little by each was already that. and actually if you look at that, that full, they, they don't have much incentive to actually add, i thought body. so i would argue that actually, that needs to be a bit more responsive, put the value on the drugs that actually generate fire ex pats. it impacts on,

on health, and unless you've, or to illustrate to the system is a wash with, with, with money. and some of these big companies have so much cash. they didn't know what to do with it. so the written branch of products, which really isn't very politically possible by either of the physical politics in the us, would move in the direction of, of, of a set of measures that was asked to be tougher on the, on, on, on compass in terms of what they produced, they wouldn't allow them to get drugs through the system on the basis of one study, they would, they would require a more meaning, the clinical important differences between what is being developed and what's currently on the market. they'd be more emphasis on random much trials with a representative. i just picked up a long example that i could pick up a load more with a drug being used as it's not really matching and issues. how i was trying to help them to ask for the advocacy numbers are actually in the real well low. so a few of these kind of things would actually improve the incentives of, of, of, of companies to produce useful drugs. okay. and are really good to talk to you on terms of the costs,

manufacturing data being with us. thanks very much. and so to all highlight of the week, it's $900000000000.00 a year. that's roughly how much it would cost to your p and union to keep pace with competitors like china and the us. the findings were released by the former president of the european central bank mario drunk, the last week. the share of the global economy is shrinking and rocky says, but if you're a current provider, it's people with security and prosperity, it will have lost its reason for being is recommendations to transform the use economy and crew of reducing energy prices, coordinating industrial policy, and raising defense investment us more than 300000000 people who are currently age 50 to 60 a set to leave the chinese workforce over the next decade. that's the country's largest age group. but it's almost as large as the and tie us population. the growing number of elderly people is straining the country's pension pawsman with

a declining both rate. few or young people will replace those who've reached retirement age and keep paying into that pause. so to try to slow the decline in his labor force, china is to raise the retirement age for the 1st time. since the 1950s, the change will take place over 15 years starting in january. according to the plan approved by lawmakers, men will retire at 63 instead of 60 women will retire at 55 instead of 50 for ordinary workers and 58 instead of 55. for those in management positions, starting in 2030 employees will also have to make more contributions to the social security system in order to receive pensions. while the announcement of the rise and the time that they just let the mixed views of an older chinese workers as well as younger ones, use on employment is high in china. many people are worried that an expanded workforce would lead to tougher competition for jobs. uses and i'm worried that we modern people now is so competitive and distressed that our health may not see us

through to that age place or withdrawal. i may feel a bit reluctant to work for such a long time, but i also understand the decision. the government may have to consider the issue of an aging population. i think from a macro perspective, can understand that a kind of bigger will give a to show this would impact me, but i think we should look at this positive lee. it's a good thing because our country has an aging society, a multi level pension security systems being built. so raising the retirement age as the country, waking up the pros and cons. it's a strategy that's beneficial to the entire country. joining us from hong kong is obviously a garcia at our chief economist, the asian pacific at not 6 this bank. good. tell you this again, alicia, how significant this, this other countries of over the raise the retirement age, was this going to do for the chinese economy? well, it's going to help pay the pensions to start because this is a big issue for china and the national patients on has

a big deficit. number's not fully, you know, clear, but we know there is deficit. and i think the most important assistant is really to increase the number of years that a chinese will need to work to, to the receiver position from 15 to 20. that, that's the big thing because that's what gives a little bit of room briefing space to actually pay the pension. the retirement age increase is relevant, but you know, it takes up a little bit late because it starts in for the 25 and it goes really slow and deep . but the, the contributions are very, very important. and that's just to make the, that, that the system fundable which, which hardly used today, they need to receive contributions from state on enterprises. you know, it's just not a sustainable. so it is important. but as we said, use unemployment in china at the moment is particularly high. what does this mean

for the employment prospect of the younger generation? good question. um it means that it will be harder. i. i agree with the comments which so you know my chinese interviewed by just so yeah. it's going to be harder because by the way it's heather shide is going to be even less productive. um, janice productivity is decelerating, spent in the case for a decade. and the fact that is an older people will remain in their jobs that's supposed to have been, you know, new brand new types. one too much for productivity or, you know, it's, it's kind of a mess to. yeah they, they need to find them, suspensions for young people. of course there's another risk which is real, but they say it's in a, i mean it all comes together on top of these on the lake retirement each, but with a dwindling workforce. to what extent is china by raising the retirement age?

simply kicking the problem further down the road. well, i mean, when you raise the retirement age and you basically get a longer use of contribution, of course the minimum is plenty. but you know, if you start working when you are safe, but it is free after college and you, you go in, you may be there for 40 years. and that's, but the berries that people will stay there for very long. and therefore, the amount of of funds that will be incorporated you know, would be and more, but your point is well taken because of the, these allow me to infertility to right in china, especially since 2019 is really very, very rapid reduction in infertility rate. this, this actions might not be, you know, because it's still the permit is getting enough in there on the bottom. and that's not accounted for so that you're in that regard to the right. and what is the current state of china's workforce? i mean, how many people within it are skilled or unskilled and,

and what does that impact having on china's economic growth? it is a very good question because, you know, i, i want to make a point that is a little bit confusing to the why the labor force is actually the forwarding in trying to find a percentage point a year. um that the labor force is poorly in the rural areas. why? because those are still your ventilation going on. so people are moving into the cities. in fact that the, the population overall, which is concentrated in the run there is, is not explaining china's economic situation. because there is 2 people moving to higher productivity area specific. so and on top of that to a question, there's also the labor force is being uh, this of course, uh, the share of skilled labor is higher and higher. so, so in principle, the worst would come when the cities can no longer accommodate people because of

everybody's issue, right? we re, uh, you know, the, the stuff is better stages that which is around the ac, depending on the congress to binds to be higher. yours is not dependent, but say 80 with 63 now. so by 2035 and this is important. all of these a gene on the population. we see pros, massively. we're talking about around $1.00 percentage points gross less every year . which i know, once they you run inspection process is over, that is when we will breeze see what the population means for china world wise. alyssa, great talk to you again and counting the cost manufacturing to you for being with us as tension as in argentina, on the front line of president heavy, i realize a tax on the welfare stage as the government pushes to implement its harsh posterity program. last week, midnight presented his 2025 budget to congress, which includes holding wages and pension study. he's previously struck down

a little that would force the government to boost spending on retirement. argentina right now has one of the lowest pensions in the region to raise a bow reports from point us out, as they say they are the 1st victims of precedent, heavy enemy, these cuts pensioners protesting in front of congress against me. legs v to over low, that would increase the ring, come by at least 8 percent. nor mind hold if you have been married for 43 years. but the name of the digital we have come here because we have rights and the government is taking it away. they are taking our rights to each the president for gold, about the poor quality used to work for a security company. he spends and he's a little over $200.00 a month. he says he spends 25 percent on buying just one medication. people here are angry when we need to coffee seed evaluated the currency to try to

normalize the economy after years of exchange rate controls. but inflation rose to 25 percent, and the 1st few months pensioners and workers are still trying to catch up with increasing prices. the government said is negotiable and that's why the rest and we sold the pension, know the best people are saying that the government is hurting this country most vulnerable. and that's why they plan to challenge the lady, the service people that on the street in the past 2 decades, each new government has changed. the formula for adjusting pensions pensioners have lost out with every one of them by the arrow made always 78 years old. and comes to this nursing home to pick up food every day. they will know you can, it's a blessing. i have a daughter with disabilities. my son is able to work in construction sometimes, and we have my pension accounts, so 5 with what time paid. so i have to come here and it's not just pensioners were

struggling. anyway, administration has also lifted subsidies, a few with electricity and transport from millions. it's become a challenge to pay their bills. this soup kitchen feeds around 3000 people a day maybe to selena started to come here 2 months ago. he used to work in construction for lease hold. so probably works around the country, has left him without a job showing the numbers. i wonder if that guy was working in the company involved in public works and when the government took office me and 200 others were left without a job. so i had to stop picking up the cardboard on the street with this government, we're all trying to survive. now. hopefully the situation will improve. for now, the biggest pending carts have been to argentina's pension system about 40 percent of the people in argentina work and being for my labor market. previous

administrations have tried to get more people into the state system. this means there are no more people enrolled in a welfare program that's already struggling to afford to pay the minimum wage. not many most and we did not have a pension system. we have a subsidy program, you know? so when a person reach a 65 for me, the government gives them something, but it's not related to the traditional parent. maybe that person that today of $7000000.00 pension is $5000000.00 of them appeared a little over $200.00 a month. 5000000 pensioners are leaving below the poverty line in argentina. have you had any nice continuing to promise these reforms will benefit the country's economy by increasing numbers of people have started to question his plans and pensioners saying they're coming at their expense. pretty simple. i'll just see that counting the cost when a site is and that's our show for this week. if you'd like to comment on anything that you've seen, i'm at a thinking on x. trying to remember to use the hash tag a. so you can see, or you can drop us

a line cash and the cost of the houses 0 don't net is our email address. as always, there's plenty more few online, but i'll just do a dot com slash ctc. that takes you straight to a page and then you'll find individual reports links at, in time episodes to, to catch up on. but that's it for this edition of counting the cost on a tree and fed again for the team here. and they'll have, thanks for being with us. the news of the houses here is next. the injustice, the me k is the driving force of why i do this to show piece is what it's like to live in some of the most dangerous parts of the world. to live in places where injustice isn't something you read in the news is something that happens to every single day. everyone, hey, is watching the news on the mobile phones. unlike your eyes, they don't watching full the news. they weren't seeing that he was being destroyed in real time when you're on the ground, when you're showing people what's going on,

whether it's a war or a natural disaster, whether it's political corruption, making sure they understand less simple language is absolutely crucial. but since he's already 50 percent evacuated, most of those people actually left in the early days of the world. i couldn't do this job without the best camera man, best produces the best pictures and those other people to ira longer in order to be able to get that message out to the well,

the safe them even come in as an international inside corruption, excellence award. denominator here on now the, this is really strikes kill, meeting 500 people in 11 on, in the deadliest day of cost for the conflicts and almost 2 decades. the hello welcome to the program. one side of fight of this is all because they are live from the whole. so coming up hezbollah, 5 dozens of rockets into israel for 80 defense systems. and to set my system in