the family history of finding her bus mother is for lack of things. visual so nice . she discovers shocking revelations about the international adoption process. this is the, or one go last between to confidence on a journey to unlock the secrets of upon no place like of a witness documentary on out just in the hello. i'm adrian's, that again and this is counting the cost on al jazeera. you'll we came up to the world of business of the comics this week. it faces serious economic challenges and a trade dispute for the us. yep. china is top cleaners of costs the nation as a model of stability. but is it? will that plans to revive growth work?

rearming europe so you wants to spend big fund, its own security, the power will apply and the finance of turn to consummate, become completely independent of us. but let's reset and donald trump is established as strategic. bitcoin resolved at a crypto stockpile. why did the president set them up? and how will the task affect the industry, the confidence in the economy and projecting china as a stable global player, despite serious economic problems? that's the message delivered by the nation's top leaders during the national people's congress. it was aimed at the chinese people. and politicians in the us aging is asking consumers to spend, spend, spend, to, here's an additional squares target, a 5 percent of telling the us it's no longer relying on exports to power. it's slowing economy as a trade war with washington escalates. tried as leaders also aims of transformed

the nation into a technological super pallets arrival to us that pumping in billions of dollars to revive economic growth. but how far will they go? we'll discuss not with i guess shortly, but 1st katrina. you reports from aging in china. gould is a symbol of good food, you and jewelry like this, a popular gift for loved ones. but in recent months, more, most of those have been buying gold for themselves, seeing it as a good investment, go to spread and then putting money in savings and it looks better. the price may also go up. gold prices a record high this year. so to buy fears about the health of china's economy and increasing global tensions bite is considered a safe haven compared to other more volatile assets. the rest of my goal reflects the uncertainty around trying to economic future worth is flowing in other forms of investments, such as real estate, all the stuff market consider unreliable. it's this negative sentiment that chinese

leaders desperately want to turn around at the 2 sections. meetings and aging officials from the countries top economic agencies projected confidence in the countries future. so you'll use our system has advantages. our market host, great potential and our enterprises are full of fatalities. those challenges include an extra 10 percent tariff when chinese goods imposed by the trump administration in march, bringing total new duties to 20 percent to see a china hit back with its own levy of 10 to 15 percent on american agricultural products and investment and trade restrictions the $25.00 us companies, china is probably gonna have somewhat of a, a growth shock from the tariffs. it's very hard to estimate exactly how large that will be. the chinese government however, has downplayed concerns and says before me, it's 5 percent gdc talk it to the year in part by ramping up domestic consumption

and investing more in the private sector circle. national venture capital guidance fund will be issued with $138000000000.00 to support technology stops. that's a structural change that the private sector, like companies like alibaba and, and a whole lot of other very large companies will get more states support and will be integrated more deeply into the way in which the chinese economies planning aging will prioritize what it says on industries of the future, official se homegrown a checkbook deep seek, has highlighted, trying his capacity for innovation. still the possibility of more us terrace threatens to the real product. something badging says it's prepared for fully on site to cope with a sort of this. the central government has set aside and full reserve twos on the policy space. to now many angelina, i'll hoping for more stability until then, the lower of gold will be hard to resist. katrina, you?

how does 0 counting the cost? aging? been true is professor of economics and finance of the china europe international business school. he joins us now from shanghai. professor, good to have you with us long gone all the heavy days of plus 10 percent. growth is 5 percent growth this year. a realistic target given all that's going on, i think this is the choice because the 5 percent to you to not to, to hire a so that, that you paid a t mobile while if i present that is another easy to achieve. so it's a well require a lot of efforts, both from a chinese government under the private sector. so that is a uh set to as a guiding a go for the time. is that come to you, which i think it's appropriate. but what about the level of, of stimulus, is that going to be enough to increase consumer confidence and get people to spend, spend, spend to get to yes, i mean, sorry, so you called me is not in the uh,

the facing the situation and the, the cpi increasing uh was uh, uh below 0 percent or last a months. so there's a lot of, you know, a student us that to where they needed to make a chinese people spend again. so the government that has made an effort to in increasing the government to that that to, to do the racial from 3 percent to, to 4 percent and also considering reducing extra rice and it's a long but uh, in my assessment to those the stimulus of policy so i'm not going to be enough, you know, to make good chinese people to open the, i want it to, to consume. again, i said, well, they require a lot more, you know, effort not to just to you comes of the money to the stimulus. but the tons of the company, the confidence of chinese people for the future i've given all that's going on

economically, globally right now. what's more important for the chinese government gross or stability kind of have both. and unfortunately at a time is the time to attend not to have both a stability and growth. and so i think the government is really carefully trading these pull off uh, by the, in my understanding the chinese government. so we're always put to uh, stability ahead to offer what growth. okay. the government, the look at the night is that to it, the funds, the economy, it has enter the new puter. and so it's not to really healthy to have to verify growth, right? so by the, you're doing you the 2 men to a month or to the high growth rate, you're the to have these young people employ the. so i guess the, to the government to you trying hard to get to 5 percent of gross and the while, you know, maintaining the stupidity of the society. so it's either really

a difficult situation for china. but those, that's the only choice, the government to well adopt. china is putting on a brave face and response to donald trump tower, saying that, okay, where, where we're not going to place such a great emphasis on exports to the us we, we can do without them. but just how damaging will trump tower speak to the chinese economy? could it have a positive effect in that it would make perhaps china grace again rather than making america great again as the us president pope's. yes. uh, i think a trump uh has of being uh doing what a trumpet does and does that is really to have a better aggressive for a policy against the all countries including china. so this time, i think good time that you adopting a different approach. it like the 1st time when the trumpet was used for the 1st

the pregnancy and the time that you adopt it was adopting a typical attach a, you know, retaliation. i am a, i think the chinese government has the lender. a lesson from the early uncomfortable. we some of the trump, therefore is this time, if you go to a, the law, the, me a protest of us the terrace. however, in terms of the television time though, well, it's a nominal way just to find you from selected the targets, such as ever culture. to show that to chime the well a fight the back. i think a ton a maybe a good in use of for china, which is that the chinese economy is entering a new puter that they thought of quite a lot the more sales for innovation. so i think uh the positive feedback to the,

from this, the external pressure is a really solving time. the good and uh, in the trunk. this was uh, maybe, uh, making time that a great again, uh and uh is that to either effect uh that he's not expected to bite on the front but, but uh, i see to ease of helping me professor, it's been really good stuff to you. i'm counting the cost manufacturing date for being with us. thank you very much for having me now to something that we've been talking about on counting the costs for several weeks. economists say that the emergence of china as a tech lead to a global trade war. and europe implants to spend the big on defense could threaten so cold us exception. listen, what does that to him actually mean? the american exceptionalism refers to the nation's outperformance in the global economy. for years, the us of power ahead of, of a nation is an economic growth. stock price is artificial intelligence and in other areas bought economic data suggests the economy is losing steam and fears of

a recession, a growing. even the president trump has refused to rule one out. so they show that businesses are concerned about tariff on certainty of manufacturers reporting. steam declines in new orders. consumer confidence has plunged on spending, declined in january for the 1st time, and need to use the labor market slow last month, creating fuel jobs that expected. the us dollar drop to multi month flows against the euro again, last week trumps terrace. and fear is over a slowing economy have stooped. investors stock so down so far this year with money flowing into europe and china as investors diversified away from the us market. its canada, its next prime minister mock connie has filed to win the trade wall with trump full . the central bank of connie will become pm off to the governing liberal policy, elected him its leader in a landslide vote. in his victory speech,

he focused on what he called trumps on justify tyrus on canada. the 2 nations have exchanged back and forth announcements on tit for tat terrace. the european union has long seen itself is a project built for peace and open trade today. spooked by president donald trump statements. it's rushing to re um, trump, us pressure your up to spend more on its own defense and suggested that the us might not protect nato members. but he believes on paying it off into the alliance with transatlantic relations in question to you is scrambling to boost its defensive capabilities if now plans to spend a big potentially ramping up defense spending by more than 8 $160000000000.00, including a loan program to pay for more arms and technology, michael apple reports. europe says it's officially entering an age of re on them and it's lead is acknowledge that decades of under investments in defense have

caught up with it. donald trump's america 1st agenda and shift in policy towards russia. mean the u. s. is no longer the guarantor of security in your you don't have the cards right now. the ukranian lead is disastrous meeting at the white house prompted action from brussels. europe is ready to assume its responsibilities . we, europe, cut to mobilize close to 800000000000 euros of defense expenditures. when russia's full scale invasion of ukraine began in trying to transfer you to europe was spending nearly $150000000000.00 on defense. by 2024. that expenditure had more than doubled to $355000000000.00. europe's new re all them and dr. ames to free up $860000000000.00 over the next 4 years. with

$160000000000.00 of that funding, miss saul and drone defenses through lines to achieve this targets. you budget restrictions have been relaxed, allowing member states to boost defense spending by an additional 1.5 percent of g d p on average. president emanuel macro says from send the plan to ad tens of billions of dollars to the part using russia's own finances. on the even side, good renewal of of been in 2025. the you will provide such a $3000000000.00 as part of the ukraine facility of the g. 7. is extraordinary. revenue acceleration initiative funded by the interest generated by seized russian, estimated germany's incoming john sla plans to unlock billions in defense and infrastructure by relaxing borrowing limits known as the debt break bus. he's facing domestic opposition. europe is scrambling to win itself,

or if it's decades long, dependence on u. s. military might staring at the reality, it's defensive. maybe it's responsibility alone. in the near future. mike, level l g 0 for counting the cost to steer the is reset, sleep in defense security and just to sup, around europe, think tank. his primary focus is on defense, economics and acquisition across major european ad u. k. programs. he joins us now from godaddy, with a sense you can, you, are we, it's off off decades of us military support. to what extent has it taken that support for granted as an interesting context. so we find ourselves in us as you write the ident by your business actively moving against a very long term trend in relatively lower levels of, of defense investment. i think was interesting to see is the, the different approaches that we're seeing to starting the facts as you identified

in the, in, in the video a moment ago. 3 on europe of packages for all intents and purposes. hypothetical mobilization of capsule up to 800000000000. your roses is the big number that's on it is go to audiences for all intents and purposes is poppy about to turns. so it is partly about positioning in the, in the direction about this race that where it was built, list as the to tunnel significant pools of industrial types of the to underlying technologies. but at the same time is clearly directed in the, in the direction of, of nato allies, primarily the us and saying that the european union of europe and then the states are really stepping up in terms of the, the serious nature of the, of the threat that we seized over the pricing, but it's, it's not going to be easy. is it one of the logistical challenges here? europe is not the us. it's a block of independent states. oh, with the own defense budgets and defense policies. yeah, absolutely,

and this is historically a fragmented market, which really, really inhibits the ability of defense primes and defense prices in the fax it to, to generate scale and generate the, the strong levels of commercial success. the tradition leasing the us prize and develop that there are a number of underlying challenges. i think paul, the, i'm on the, on the part of europe in need to so be high. think that the, the really strong large number and the really strong commitment that we're sending will effectively be a signal into the underlying supply chain that it's time to start investing. this is a real serious have i have the same time, one of the real key challenges on the line gold, if this will be the availability of people, people and skilled people and the willingness to come and work in the defense sector is want us to real historic underlying challenges take you in your of i think it the same time one of the other big challenges this tends to be really looking at is a, historically defense doesn't have a fantastic track record in terms of saying a cash going into the system smoothly going through that procurement system and

coming out in terms of good values, money products, the other end. so it's just, it's a slow and complex but human system. so it was one of the challenges in terms of policy then will it be mandatory defense spending requirements will ease states be required to relinquish the autonomy of defense spending and policy? how will these loans look in the all of these challenges together are the things that are going to be looking out really, really quickly. so obviously you're already in the, the $150000000000.00 your, our cost at the, the loan facility that the european commission to come out with. we're already starting to see some face to face watching through. so will that include known and cool a you members such as the kind of the site in london right now is i'm sorry, i missed that survey. this already started back at the same time. one of the really big inhibits is the receipt sitting behind. this is the reading this of private capital to get behind this, this whole purse. and what we've seen historically is a slightly fragmented policy landscape in that space. so we're seeing the different

levels of policy across the u. 4, right? the, the, the enable, the, the ease of investment into the sector. but as you rightly identify, i think the biggest challenge to this is historically european states have looked at managing this device between managing unit cost and defense on language, primarily day by buying off the shelf. and on, traditionally, that is meant buying american buses, retaining the economic and industrial benefit that comes from defense on the one side which inevitably leads high cost. that's what i find that what we see 15, sorry to interrupt you at one final question. but we'll increased defense spending across the block actually help or hinder economic growth. i'm thinking especially of, of, of the smaller states of this, these low ends, which are going to encourage them to, to get into in into it further into debt. yes, i think this is one of the, the just the brand take the jury is really out from that to expect to own the extent to which defense drives growth in real time. what we do say is really good

evidence that defense drive is very high quality jobs and it drives industrial innovation is sustained supply chains. that is absolutely sure. i think where the, the pure economic to buy it sits is, is this real growth, or is this just as you identify just adding to the government's tab and sustaining some of these technologies as cost. i think you know, to see real economic growth, what governments will be hired and says that there's some spin across innovation and some spin across economic benefit into adjacent sectors such as the aerospace site to which can benefit from some of these, these really long term investments. in combat, for example, really good to talk to you through a manufacture date for being with us. so it will be the 1st resolve of its kind in the us estimate of to be with billions of dollars. donald trump assigned an executive order to create a national stock pile of bitcoin, of the digital currency. so it will be funded with tokens with the government has seized it legal cases over the years. the older also cause for plants to buy more

bitcoin as long as those purchases don't generate extra costs for tax pass. bitcoin . the world's largest digital currency fell by as much as 6 percent following trumps or the president has taken several steps to elevate. the volatile effect of since taking office in january. trump has a possible stake and a trip to currency industry and ethics experts are concerned about a possible conflict of interest. andrew o'neill is the managing director of and co chair of s and p global. it's digital assets research lab. he joins us now from london. good to have you with us, andrew. how significant would be the establishment of this bitcoin was of, is it anything more than a publicity stunt? or is it actually a pretty good idea when we think about the context of this important, think of this context of governments running persistent deficits in having increasing national debts and the potential that through whether that's for the

kinetics or the political crises that there could be an acceleration of indebtedness, it could be the basement of a, of their local field currency. and generally governments hold goals for that purpose to have the, against the potential risk of, of the basement of the courtesy preserved their assets. bit court has some of the characteristics of goals is not controlled by any particular entity. it has a fixed supply. it is also digital and therefore easier to move uh than gold. however, yeah, well this has a much shorter traffic worth in gold as a store of value that side when we look at these proposals around the big, quite strategic reserves. so what's happening already in the executive order is that this reserve has been established using big point already guns by the government. and any additions to that, as you mentioned,

will be on subjects to not on, on a current additional costs to tack stairs. what that looks like, in fact, this is something that's not yet clear. there's a quote for proposals or for recommendations within the next 60 days from that to executive order. but the key point here is that the vis bitcoin reserve is to hold the asset for the long term and not to be looking to trade or sell this bit point into the market with you to david. if. if the us does go ahead with an established, has bitcoin reserve, would you expect to see other nations following susan? and what does this mean for the, for the crypto currency industry? the reaction in terms of market prices and perhaps disappointment, that there wasn't a more detailed announcement about the us government purchasing additional bit point and therefore bringing additional buying power into the big point markets a both. what actually happened with this executive order is mainly symbolic,

but symbols matter. and so what's happening with the executive order is that the us government has officially not recognized bitcoin as a reserved assets. and that is going to feed into the decision making in other countries where it is. uh, it's quite possible that sir, the company looked for suits in the long run it, and that is very significant for bitcoin as an asset itself. clearly in the short run, there's been some disappointments that's on that there was from the priority on the additional purchases advert spring. great to talk to you all causing the cost manufacturing date for being with us. thank you right now. the tiny himalayan nation of the tom is mining bitcoin to make up for the following tourism revenue. it's using the profits to fund government spending. product smith suspends of the capital to see why crypto currency has become such an important part of the economy

. and boot time, gold is everywhere. a booty symbol of the everlasting nature of enlightenment. now the small himalayan kingdom is investing in the future. it hopes will be blessed with what buck has called digital gold bitcoin. it's also finite and supposedly everlasting. hundreds of people who have made billions of dollars on the back of bickley or why and governments doing more is prime ministers chatting? tough guy, he says big coin is a strategic reserve one currently worth more than a $1000000000.00. we have use bitcoin to for how to provide free healthcare environments. but these are my know, the main use of big green has been to finance the salaries of public science. boot time is built big coin mines at locations across the country with thousands of energy hungry computers, solve complex mathematical puzzles,

to claim big coins. and here's what's powering this martin de gold rush. hydro generated electricity, but common size is big coin operation is carbon neutral, relies only on water from the himalayas. it's also very profitable with food tons, computers being rewarded with big coins that have current prices out up to millions of dollars a week. the futon has 6 dams and his building mold with plans to increase generating capacity from the current 3000 megawatts. 15000 megawatts by 2040 newtown is a small country, large scale manufacturing in agriculture on possible, almost all included imported and options. the economic development are limited. i would be very worried if our government was buying between uh, including in between. but uh, i think the kind of reassurance for us with new citizens is that the government is minding it using the cheap hydropower and sort of exporting it at

a very cheap rate. we are using it to mine betweens, in high mountains of done and what is the required, the chief executive of futons of sofa and holding company, just exploring bitcoin and other new technologies is vital to economic development . i think you cannot run away from looking, cannot run away from me. i hope, junction in the eyes will combine the industry of money if i may see. and how money flows from one hand to another. because is one of the biggest innovation in the space of money in $40.00 amenities from the time. do you remember when money was discovered or invented? will of boots an easy one day making big coin offerings to put up the prime minister thinks it could happen. we have owned under here no problem. uh our reserves also in many international currencies. and sooner or later shop it going, it will also feature depends on whole rest of the world as we are moving the

direction on p. v. us has moved in that direction. last week, creating a strategic bitcoin reserves, but it's smith, how does air with accounting, the cost simple boot camp. so that's our show. so this week, if you'd like to comments on anything that you've seen, i'm at a finished goods on x. remember to use the hash tag h a c, t c, please, or you can drop us a line counting the cost of elders, you know, don't that is our email address. as always, there's plenty more, few online, l 0 dot com slash seats and seats. that takes you straight to a page of a, you'll find individual reports, links and then top additions for you to capture the. but is it for this edition of counting the cost i made for it instead of going from the team here and so have thanks for being with us. the news on al jazeera is next in the last archive of an entire people seized it more chips and the subject of these

really soon makes a lot of colors, a stream and palestinian film archive exclusive in 1982 look how cute they're beautiful white uniform never before seen images of palestinian life before and after 1948. a battle of the memory of history and control of the narrative. a real will coming soon on al jazeera, a meeting of minds discussing the defining issues of our time. in one year we source that change, it became clear at that point that we really were in a kind of a new era of know about the slower it's maria theresa and professor michael wooldridge explore the pedals and possibilities of artificial intelligence. it changes the way we think, and then the way we act out can protect ourselves. studio b, b a. i series on a jersey to the government

colleges here where the in europe and leaders tell the russian president to stop stolen off the he said a deal for a cease fire, and ukraine must address the root cause of the conflict, the public html cry. this is all just their life and so coming up, it's now 2 weeks since as well, blocked food water and fuels from entering kansas, listening, documented terry and crosses on the end of the 3 of the 2011 uprising again.