us retreated to the car without a media hub and vital vantage point to june. the 1st, truly televised war from the roof. we could see recreation at the american embassy for the most iconic images of the conflict and vietnam were transmitted to the world. this was the front row seat to the final stages of the war cycle and caravel war hotels, oil just here. the hello, i'm, adrian said again, and this is counting the cost on al jazeera, your. we can look at the world of business and economics. this week, china has moved to support its exports, us ahead of donald trump's anticipated terrace strikes. added strive for self sufficiency is accelerating. is paging better prepared for another trade problem

with the us. this time around. he's a 1000000000 a invest scope, the best sense is trumps, picked for us. treasury secretary kennedy strike the right balance between embracing the president elect policies and maintaining markets dependency. and chrome is the world's most popular web browser. it's also an important part of google's business for us recognizes at the body of the company cell is in an attempt to and detect monopolies in 2018. when donald trump loans trade restrictions on china, it's economy was flying high. today the nation is struggling with a real estate bounce on a debt crisis and deflation, all of which a dragging down it's economic growth. this has made many chinese companies shift to focus on sales abroad. bots, us president elect donald trump, has recently found to raise terrace by an additional 10 percent on all chinese imports. as soon as he takes office this time around,

china looks to be prepared for another trade route. it's announced measures and up supports and gets exports as ahead of us down to the 2nd trump administration. but are they enough? we'll discuss that with our guest shortly. but 1st oracle some surely for thoughts china's presidency should thing on the diplomatic offensive. since don't have trumps re election as us pressed and the chinese leda has been showed enough support and global events from certain to the white house has to be is the tensions between the boys 2 largest economies could plus and if we treat each other as opponents so in an easy to engage and vicious competition and due to hum china us relations with surfaces, banks, or even regressions. these plea for the smooth transition have been met to put more threats, which some pronouncing, he intends to impose major status on the united states. 3 largest trading partner, as he's promised 25 percent out of sun canada and mexico and an additional 10

percent on oil, chinese and boats. when he takes sofas on january 20th, shortly after from social media post, the chinese embassy spokesperson treated to see there are no windows in trade was. beijing has been racing for trumps or down to the white house, which is america 1st policy, and threats during his campaign of tactics as high as 60 percent on chinese made goods in his previous to them something full status of up to 25 percent triggering of retaliation from nation the way they will sell their product in america is to build it in america. a very simple build it in america as only in america nation has a real new measures in the boosting. the countries for them played they include more financial support for funds, expanding agricultural exports and bolts of energy products. these can be all

mean the ministry of commerce will work with local authorities and relevant departments to close the moment to a foreign trade operations on the life changing conditions and show the implementation of foreign trade related policies and helping foreign trade enterprises keep order stable and expand market is so as to provide strong support for sustained economic recovery and growth or the show feats from 2nd to them comes as china as struggling to kickstart it's driving economy. a trillion dollar plan is in place to help t a local government debt on 6 and ongoing property market crisis. but economists expect chinese expose to rise with customers rushing to place old is ahead of trump taking charge to avoid possible higher tatters explodes have already grown since july put in china on track for record freight surplus this year. i'm

a consumption of these. i'll just eva for counting the cost, which on has been the top tech support so to the us for to deck aids. but mexico over took it in 2023. the value of chinese inputs to the us tumble of 20 percent to 427000000000 dollars last year. china's exports to the group of 7 o g 7 countries also dropped to on the 30 percent last year. that's down from 48 percent in 2000. in 2023. china was the 3rd largest pump for u x sports and its biggest impulse to bilateral trade reached nearly 775000000000 dollars last year. that's a drop of 14 percent compared to 2022 trade between russia and china has strengthened since 2022 of the russians invasion of ukraine. it hit a record of 240000000000 dollars last year, but exports slumped over 16 percent. this much from the earlier with rolling us

threats of war sanctions. however, china has built alternative sales networks with the association of southeast asian nations by the actual trade with us in the scene. an average annual increase of 11 percent from 2004 to 2023. now, despite the setbacks, china remains the top global exports up with $3.00 trillion dollars worth of goods exceeding the us in any one point. 4 trillion dollars. the nation's export, searchable them 12 percent in october at a place for further gains. joining us not from hong kong is gary old who's a senior economist at the texas and a research fellow at the central european institute of asian studies. gary, good to have you with us again. time china has somehow so convinced these tariffs, the trump has promised to to the flap on chinese export hasn't done enough to prepare. well, i do think um,

it's not the 1st time that china face the situation like this definitely made china is more prepared than what happened in 2018. so, so far we have seen china know trying to de escalate the situation with the non us market street cutting some of the export tax rebates. at the same time, they're also more of the amount of side pull the seat that may be roll out at this to mitigate product the impact on you know, away from the us market for steel. um, it really depends on where the trump will actually implement this 60 percent of tariff on china. because right now if it is only 10 percent, it's possible to see some of this managers working. but if we're only talking about 60 percent, then the story will be quite different. so china is better prepared, but is hot to fully detached from the us market immediately. or this come to us that the worst case scenario with china retaliate and impose its own terrace. are we looking perhaps at a trade well here?

well, um, under the scenario th from 2.0 with more terrified, think this is really is something that is quite likely to happen, which basically means the village for retaliation. but of course, what china may do also depends on what trim will do as well. because if we're talking about somewhere like 10 percent or you can start to percent of a terrace off or that goods basically shipped from china to the us, then it's possible to see china doing the same thing at the same time on the, on the export side also possible just so you turn the restricting or some optical uh, role materials or basically a certain products that china has a very straight big google market share all to in a way of trying to punish a negotiate with the u. s. this is also something quite possible even to return them may not be able to produce, let's say the most advanced chips to that sense. so yes,

i think we're really heading to us in more intense geo political tensions for an alter, possibly one know and other to use. or i'd gary of the let's just for a moment assume that that, that would be a trade for what for what that feel like for the likes of you and i and people watching all over the world. i mean, we're not quite used to seeing goods on our show shelves from everywhere nowadays. if there were a trade, what would that change? well is it, um, i would say if the uh, tariff ready gets so high to was uh 60 percent or even 40 percent. right. um, it were largely hurt the corporate launching of the uh, the chinese or the us rooms the exporting a to was each other. so basically, it is really a back tracking with what we have seen in the past decade in the globalization of which countries try to de, optimized to production costs at the lowest way, and therefore consumers able to buy goods at the cheapest price. so i think this is

really is something that is falling back a little bit. well, how refer it also depends on what update or turn to to at that sense because the out to you estimate be able to do that because i'm part of this in port can actually be our source maybe to us in india or other countries. but if we're really talking about the whole, well, the coupling from china, then how do you certainly find maybe the 80 percent off the trying this production elsewhere where the other countries can actually develop that quickly. i think that is a very good question to ask. so in a way, um, i do think that innovation pressure will be much higher than people expect to earlier this year. the good jerry coast china is economy is not in the place, but it was the beginning of the last from administration. it's suffering low, consuming the amount of the more of and housing market that we've heard a lot about them on, on this program. how would these terrorist, if trump introduce them on chinese goods impact upon an over the sluggish chinese

economy? well, i think it really depends on where the tariff actually at target, beyond dx, a percentage and sofa. we have seen this strong measures pop up the talking to, to meet in china goods, which basically means that is the direct trait between us and china. but at the same time, trunk has also endorsed quite a large terrace on some of the partners as well, like canada and mexico. so that's actually a very it that this talk it to us maybe in china can be expanded too make by china . so i think this is really, is something that me, courts, some of the chinese terms of being of god, even though they are more prepared than before, back in 2018 because a lot of them has actually moved to production elsewhere. trying to explore to the us through a different market. so this is something that we have seen which is quite different

from a few years ago, but still adult with a it can actually fully offset this impact. so which basically means that together with the domestic we could the moms, it's possible to see chinese growth taking a piece deal with recently, big shock compared to before. it's possible to see like a j to be a. ready decline by um i see your point 5 or to one percentage point depending on the ultimate terrace that being imposed. so yes, the situation remains quite challenging. so definitely i do think that china will continue to explore the market, but this is not an easy dropped. darcy, with this, i want to ask you about the next item you, one way has launched its 1st smart phone. the can run on the chinese companies self developed operating system. the tech job aims to establish harmony, o s. next. as a major arrival to apple's ios and google's android, which dominates global markets, the company's early versions of the devices were built using open source android

code, or wait to mention what chip it's you made. 70 phone was wondering on the launch is part of the chinese. john's pushed towards technological independence in the wake of us sanctions. what do you make about the carriers that a sense of will move from from far away? i mean, it could we see its operating system become a serious rival to ios and android. well, um, i do think that is quite a significant milestone. uh, in the way that, uh, china actually tried to move away from the uh, traditional western technology and the benefits eco system. so this is really uh, something remarkable with that can have, uh, uh, basically become a game changer in the trying this tech sector. and especially for your fingers, some of the areas the china is lacking behind a google peers. it's really about semiconductors, which is trying to make more invest more. and the other way to just read it on the software side of which this is something that i would consider as a breakthrough. but again, i think there are still many heard doors on. the key point is, uh,

this software is only being able to use on why waste device because it's a closed system. so where the uh hallway can actually, uh, cell phones uh, actually to bring in more consumers. so the pool can actually get higher. and eventually where they can export to the rest of the well, i think that this also effect for a big questions here on even the hallway has tried to recruit or basically getting more eps on the system is doing not comparable to android and apple at this stage so i think we still need to wait and see to see how it goes. but um yes, i think this is probably also like a warning to the us in terms of dissension. some may not actually be sort of in the actually few the trying this ecosystem because they are being forced to develop it . gary, it's really good to talk to you on counting the cost to get a manufacture date for being with us. or he is one of donald trump's biggest financial backers, the president elect, has nominated scott best,

went to lead the us treasury department, a top financial job. and one of the most influential roles in government now has confirmed by the senate. the hedge fund manager is seen as a safe pair of hands who could push trump to soften some of his economic policies. among his tasks overseeing trumps pledges, including sweeping tax cuts, a ton of hikes, public debt, foreign trade and us sanctions. but many economists say the trunk of policies could recognize inflation and slow economic growth. now that could post challenges for best sense in maintaining the stability of the well as largest economy. it's on the market out, of course, the dollar. sorry, go reports. a 1000000000 a hedge fund manager, it's donald trump, final pick to lead the us treasury department school was sense nomination ended weeks of speculation, drama, and infighting to the powerful cabinet position. wall street reacted positively to

the preston elect choice. the bond markets responding well to the treasury secretary nomination of scott besant. and kind of with that with that nomination, you see the 10 year kind of reality about 12 basis points or so back to kind of pre election levels that has really important style leadership. it ramifications for the equity market and what you're seeing response of that is some of the most interest rates as the parts of the market up sharply. a 62 year old percent of wall street finance was an ali backer of trumps 2024 bit. and became one of his closest economic advises as treasury secretary percent is expected to fill the preston elex promise for tax cuts and sweeping terrace on impulse. i went on back in that beautiful white house. we will pass larger tax cards for workers and we have a special tax that here is going to do, i think quite well, it's called no tax on chips. no taxes,

no sense human nation waste completes. trump's cabinet picks ahead of his return to the presidency in january, if confirmed by the senate percent would be the past and in charge of pursuing trump economic agenda. heading from bull street to washington. sorry, go out to 0, counting the cost. joining us now from washington dc is also have a auto come due to a former vice president of the world bank and see a fellow at the police are sent up for the use of good to have you with a. so is a veteran of wall street necessarily the best candidates for us? treasury secretary, i believe so in the following sense. look up the donation of a mr. investment strategy. secretary has these investor fears about

a president elect donald trump trade barriers claims. um, you know, the choice of investment that were in hawaii right? i saw him last months describing stripping barriers as maxima list positions is being taken by investors as a sign the president for large policies may be moderated. see, along the campaign, mr. trump alluded to 2 possible pass, one of them was simply the open trade war by lifting terraces and so one and the other one was when he made reference to establish plans as they were shooting tactics. so in this sense that on the nation of uh, mr. bassett, as compared to mister like, house, for instance. yeah, points toward the direction of uh, a more uh yeah, i use most likely on stairs as when i go, she ation see of course,

the few years uh were on name because after all the treasury secretary is not necessarily the main person. i want to design and define are and details of the strategy of trade, the tariff implementation. but the fact that mr. trump appointed him just to on despite the fact that exactly over the months, he has referred to the trade tariffs as negotiating tactics and so on. is a good on in that regard. many thanks and dates of joining us on counting the cost of pleasure. rich countries have plans to raise the funding to help poor countries fight climate change to a record of $300000000000.00 a year. but many developing nations dismissed the agreement as in sufficient a launch of targeting more than one trillion dollars annually was also part of the deal. but most of that will come from private sources. the data was reached at the top 29 private summit and as revised iran capital back to last week on 2 sides of

the was web browsing is done on google's chrome. web browser is very popular with both of 3000000000 active users. owning it is important to the tech giant's add business. now google relies on chrome to direct websites as to its flagship a i product gemini, among other crucial uses, but us regulators believe that the app has too much power up and they wanted, sold that taking legal action to end google's market dominance unto encourage competition. last week, the us department of justice also aust, judge of it matter to push google to shed data and search results with rival browsers. in august the judge methyl rude, the alphabet had a monopoly of online search and related ads. google was accused of breaking the little by paying $41000000000.00 to ensure that it was the default, the search engine on smartphones and browser specs and american regulations have

tracked down on tech jobs dominance of the internet and such in recent years. but how could a sale happen? well, like many nations, the united states has anti trust laws which allow the government to break up monopolies and launch corporations through the courts. if judge meta rules in favor of all the departments of justices recommendations, google would be forced to sell chrome and will be banned from launching a new browser for 5 years. the company would also be bought from paying billions of dollars to companies to make pro, the default search engine on the devices. google has the option to appeal, of course, any rulings potentially prolonging the legal battle. joining us from london is shuts out. i'm sorry, a professor of strategy and innovation, a judge business school, the university of cambridge good to have you with this professor. this case has been described as the biggest tech anti trust case. since the us government's showdown with microsoft at the turn of the century,

a win for the american people so that what do you make of it? i think it's a bit of, it's a moment. it's a very important moment in the digital landscape. it's a huge step. i would agree with that. i think uh, there's been a general narrative in trying to reduce big take dominance. but i think that addressing the wrong issue, that's my personal opinion. so what is the issue that they should have been addressing? the issue is that do things, right? so what is that? um yes, it does have 2 thirds of the share of, of the, of the market as compared to society is compared to microsoft h. but the dominance of google lies and it's search capabilities and the data because it collects some uses of course, chrome, headaches, and getting personalized data. but the rand dominance of google is search with a 90 percent share so that it can still continue. and you've seen microsoft been make some inroads, but it's still under 10 percent. so the,

the vesting chrome is not going to really address the key problem, which is google. so minutes in search. and that, but more point way, i think this is still not the best use of taxpayers dollars, even though i'm all against big dec not miss exploiting consumers, including my own data. but i have a reason and that'll give you one or 2 other reasons why i think this may not be the most appropriate place to place to was. first thing, as i said, was that the main issue is not chrome. the main issue or the main dominance of google is search. so the said with a 90 percent of share, most people use google google search. and because more people use google search, it creates a set of reinforcing cycle. and i think it's very difficult for any other company to break this. this does boost dominance because the more people use global a bit as a result of so you get and there's no reason for people to shift to do it on the

other to which gives inferior results. so this network effects, as we call them on the 7th, being forcing sites a mundane school with dominance. so the best point number one, but the point number do that i have, which is more important to why i think this may not be the most appropriate approach, is that regulation seems to be been catch up rather than being proactive. and then we'll look for regulation and bro regulation i'm parole a governance. but what i, what i am not so excited about is that this is like fighting yesterday's problem. so for me, the problem is that google search, google chrome, this is already being this top, disrupted by jenny. i think they opened me. i chatted, cpd cloud, jim, nice on cloud and topics, etc, etc. so this jenny, i is changing the search game. so what's happening is with all new kinds of browsers, new kinds of search engines coming up, which integrate today i,

which is all more personalized design, small customized designs. they're already disrupting the market. even google search could be disrupted by that. so my, my, my, my main point is, should be focusing on something that could become a monopoly such as open 9 genetics robin addressing yesterday's problems. okay, let's get back to yesterday's problem. if google is forced to sell chrome, what would that do to its business model? i think we've perhaps addressed that back in your previous answers but, but who might buy it? i mean, of course the there, i mean it could be small and medium sized enterprises. i mean, you know, of, i mean, a, you know, internet has a close up, microsoft has its own h, we, as we have done the goal, which is a private, uh, uh, more give them, you know, respect supremacy for certain things that books well. so they might be small, medium enterprises that buys it and but we could prove it to things like subscription models when somebody could do

a premium service with charges you without it be better off ads. um and on top of that, this is my personal view. i did not, google has done some fantastic things and then search. it's of absolutely to 90 percent, but chrome et cetera is not a great product. i mean, i personally keep switching. sometimes i use edge, sometimes i use chrome. sometimes they use firefox. sometimes they use duct a goal and it starts even though they got just the assessment at times. and i bus the thing that with this laptop adds chrome is not even the most popular product taught the even though it has a 2 thirds or 6070 percent market share, it is definitely not the most superior product out there. so i just don't feel as if you know, the best thing chrome is significantly affecting google even though chrome let's google get both of these data on use. it is that of course that it's that feeds

into it and search engine that them allows. it's to be the leader in advertising. that's been absolutely fascinating. it's really good to talk to you professor. i think some data shows that thank you to that is i'll show for this week. if you'd like to comments on anything that you've seen, i'm at a fairly good on x. try to remember to use the hash tag a j, c t c o. you could drop us a line counting the cost of 0 dot net. this all e mail address, as always there's plenty more few online at to 0 dot com slash c t c. that takes you straight to a page and then you'll find the individual reports links. and the entire edition has to be to catch up on. but that's it for this edition of counting the cost on a tree. and so they go for the whole team here. and so how, thanks for being with us. the news on al jazeera, many in taiwan believe a chinese invasion is an old to video for us. and some are preparing. the military

is practicing the island. a 25. you diligently trains that civil defense costs be good to be come back to read for the day. and she hopes would never have austin recently experiencing this winter. i talked to witness divided straits on and just either for examining the headlines what they wanted to do, what they wanted to these dogs though without health system unflinching to. and then there's a one side of a group of people who call themselves the research patriot. and on the other side, just go on to races, processes sharing, posting stories with a global audience. what is the c life working on a rooftop? that's a single thanks to an abundance of well tough programming. vera unique fast tonight increases. he found nowhere else on the, on which is the right. i'm the likable. it's in the south india to find out how

tiny bass in this case, gross and extensive mining operations to a scan. corona virus helps west across the world. good, devastating attacks. and it's widely believed to be connected to the legal wildlife place. here in vietnam, we visit a rescue center for some of the world's most threatened animals and joined the call for an end to the global walk like shape or drive on l 20. we know what's happening in our region. we know how to get to places that others tend on fear guy by the 28th on purpose. as far as the way that you tell the story is what can make a difference all through a decade of honoring individuals and institutions working in translation between arabic and 40 other world language is shay come towards the translation. and international understanding is hosting. it's 10 towards serve. on the 10th of

december 2024 in doha katasha. shea come on the award for translation and international understanding from the arabic language to mankind. the, it's the as bullet launches rockets from 11 on for the 1st time since a ceasefire with israel was declared the on the bulk of this. so just a life. and so how will so coming up, government forces carry out more strikes and syria targeting fights is as bad funds towards the countries 4th largest city.