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tv   [untitled]    August 7, 2021 12:30pm-1:01pm AST

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sexual abuse, apple says unlawful material will be reported to authorities with the help of new software, strong applause from child protection campaigners but criticism from advocates, a privacy whatsapp which is on by facebook fee as governments will misuse the scanning technology to spy on people. and masses latest mars rovers began collecting rock samples the, the pictures and the u. s. space agency showing a whole drilled by the perseverance rover into the martian surface. nasa been asked to plan to launch a mission in coming years to actually collect the samples. ah, pop up the our analysis, the are, these are the headlines. the taliban says it has captured a 2nd city in an intensifying campaign against the africa and governance. they are groups as it took control of ship it, a gun. the capital of the northern province of judge john government though denied that saturday night. you have said james bass with morphin comp. if the taliban
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claim it is true, then it is the 2nd provincial capital to fallen in 2 days. this is in john john, it's in the north of afghanistan and the provincial capital ship reagan, that the taliban are saying they have control of all the main government buildings . they have control of the governance compound. they have control of the police headquarters, the intelligence headquarters. we've seen pictures to tell about a posted of the prison and very much as they did 24 hours ago in the garage. if those pictures are genuine, they shows to tell about breaking into the prison in order to break out the prisoners. which of course included taliban fighters who then joined the battle in the ship regard. in other news, police have been deployed in the ty, capital in. protest is on once again out on the streets, demanding government reform. they also want the king and the prime minister to be held accountable, the latest wave of the covey 19 outright speaking, of which
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a 6 day mass vaccination drive is happening right now. in bangladesh, the government has a goal of inoculating 3200000 people above the age of 25, in mainly rural and regional areas. the u. s. the weekly average of new daily infections has gone about 100000 for the 1st time. since the surge of cases in winter, the number of people also going to hospital is rising fast. infections, particularly bad in southern states, including florida. parts of libya have entered another full lockdown, including tripoli, the 3rd time such measures have been imposed since the start of the pandemic. and 2 people from me and my have been arrested accused of plotting to attack the countries un ambassador joe martin, who was appointed by the deposed civilian government as openly criticised the military hunter. i was in good faith power back in february. okay. counting, the cost is coming up next on out of here and it clarks with you for that. and then can ben l has the news? the news you can watch are english streaming live and i do 2 channels plus
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thousands of our programs. award winning documentaries. that need to subscribe to you choose dot com, forward slash al jazeera, english news, mccloud. this is counting the cost on al jazeera. you looked at the world of business and economics this week. the lopsided economic recovery and the vaccine inequality between rich and poor nations widens, but it's old wounds that are being opened up by the pandemic. can the i m. s. news, $650000000000.00 fund, bridge the gap. also this week pages, regulatory assault and private companies, white, one trillion dollars off the value of chinese stock. what's behind beijing stance?
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could be followed by other countries who's how the biggest shipping port in the western hemisphere cannot cope with the trillions us stimulus. ah, so from trinity to south africa, the pandemic has reopened or exposed existing economic and political challenges. failures to tackle unemployment, the accumulation of debts, rising inequalities relating to social unrest with no end to the health crisis inside. as a 3rd wave takes a grip across africa, the international monetary fund has warned. the gap between rich and poor nations is widening. while the i m f, increased its full cause for advanced economies growth this year, the washington base institute cut, it's great for cost for emerging, and developing economies. the i m f is blaming the unequal deployment of vaccines. are holding back growth about 40 percent of the population in advanced economies had been fully vaccinated. while that figure is just 11 percent or less in emerging
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markets and low income developing economies. a repeated cool to rich nation to contribute $50000000000.00 to provide vaccines for developing nations to bring an end to the pandemic. possibly by the end of next year, it's approved the $650000000000.00 fund to help countries through the crisis. about $21000000000.00 will go to low income countries, and $212000000000.00 will go to other emerging markets and developing countries without counting china. all that money would come in handy for south africa, which is counting the cost of unrest that killed more than $300.00 people. following the jailing of former president, jacob's zoom in south africa has limited room to maneuver after a decade of bailing out failing state and companies and corruption. there has been a smith takes a look at the aftermath of the unrest. lee camry surveys, what's left of his parade of shop in bulwark next door. we have got a group of doctors that at the spent quarter of a 1000000 setting up
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a nice practice in under 48 hours. every shop in this bustling town was stripped than torched. a community of 35000 people now left with no commercial center. scaring, the looting was sparked by the jailing of former president jacob's humor. it was given momentum by chronic poverty and inequality in south africa. made worse by the pandemic. were a couple of hours drive outside durban, and it's only when you leave the city. get a real idea of the scale of the looting, because not a town or village seems to been left untouched. outside the furniture store, people cute for taxes to help him carry home the bulky beds and sofas they stolen, the local police. overwhelmed, stood by and watched. it took a week for the south african government to restore order. here in jacob zoom. i hope province, of course,
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you know how and how ting with no shops and no post office to withdraw allowances and with distribution centers also hit by looting. people will likely go hungry. it will take weeks at best, for this town to be able to offer even basic services again. when a party to end it almost 30 years ago, millions of south africans like dorian and gamer, hope for a future of equality, opportunity, and prosperity for her. her children and her grandchildren. it hasn't turned out like that. dorian story is one of frustration and wasted potential, a story familiar to millions across this country. i was interested in going maybe university's way, but i put into 40 because it's too much. i could, i couldn't afford it, but i was so interested in being something having some profession. but i can.
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the world bank says that south africa is now the most unequal society in the world . the top 10 percent earnest take home 65 percent of the income white people a still more likely to find work and better paid work than the black counterparts. doreen would at least like her grandchildren to have a fair chance that growing up in a country where half the population lives below the poverty line. right, let's get some an analysis now from a b b. i'm going to last. see, he's a director of the african department at the international monetary fund and joined us from washington dc via skype. hello there, mr. selassie. hi, how are you? i will this unrest that we're seeing around the world is not just about the pandemic. it's all about longstanding economic and social issues. it's a $1000000.00 question, but what needs to be done? well, you know, at the moment in sub saharan africa, in particular, the key challenge tracing their countries is the pandemic. of course,
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that comic troubles that countries are having released them from the pandemic. and as managing that extra study, you know, give a, has been saying, we've seen a dangerous divergence between the path, both of the pandemic, but also economic performance in the richer and poor countries around the world. some south africa, notably as well behind in the vaccination progress. so that is really the key worry that we have. and of course, without the vaccination, without vaccines, shots of the arms, without getting the pandemic under control, trees difficult to, to build and look forward to stronger academic performance. which kind of help address some of the social and political tension that we've seen. and you have suggested that rich nations contribute to this 50000000000 dollar vaccination fund to assist with this program of vaccination port nations, people in port nations. how's that guy? one of the things that we've been doing quite
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a bit in recent months is really to lay out the scale of the problem without understanding the problem, how it's impacting various countries. it's difficult to find a solution. so we've laid out what the scale of the problem is, why it's important to vaccinate people, making the economic case, the social case, the moral case. and then also, you know, the country specific level. we've developed a dashboard where we are showing the kind of what each country needs to do to these objectives that reset off 40 percent by the end of the year and 60 percent by the middle of next year. we're doing this, of course, in conjunction with the partners that are really much more important voices when they say out w, h o, the world bank, the retail and you know, we're collaborating greatly. and financing, of course, is a very important part of how we can get to these objectives in recent years. it has been some real progress, hasn't there, and in cutting poverty and inequality in africa. but what kind of damage has the
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pandemic done to that progress? advance, it's really awful. so you know, the public key rates and sub saharan africa and the ninety's was high as 55 percent and reflecting strong economic reforms good growth over the last couple of decades . they had their whatever declining trend, so declining to about 40 percent africa by a few years ago. unfortunately, with the span demik, we're seeing a reverse held him back to project 3 just over the last year. the world bank estimates that as many as 30000000 people have fallen into poverty. so this exactly is why, you know, tradition really have been pulling out the stops to support the region like never before. last year we went to the region. we provide a financing off the order of 13 times what we would, you know, in
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a normal yes. and this year. of course we're also hoping to do what we're presenting. gage been longer term programs, but also just this week our executive board approved the injection of the largest s the our allocation at $650000000.00 of which about $24000000000.00 will be going to sub saharan africa countries. and that will be a very important financial shop in the arms for 4 countries. now the m f is suggesting that countries kind of spend their way out of the pandemic, but for developing nations that's just not possible. is it a lacy ahead? is a debt button. what is really important as if that is, of course, i am death issues in the region. however, when you have an ex, essential crisis like this, if you don't get, if you don't get that health situation under control, you don't put the pandemic behind you. you have more issues than just death to deal
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with. so really is very important to, to tackle the short term crisis that countries are facing. and financing is not the only solution, but it is part of the solution. of course, there will be deeper reforms needed. and in those cases, in those countries where death is clearly unsustainable, depth restructurings will be important. so we need to move on all those fronts. but really, the ex, essential nature of the threats country facing, i think, requires a different response than the fiscal prudence. but at a time like this, really what's called for as a tackling this crisis had on the south african president finally. so around phase has also more help with debts and the g 20 did offer relief on debt repayment, but it's the private investors who have failed to contribute. what can the m f do to facilitate that is really very important when it comes to death,
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to recognize that that is quite a look of his ro, janae the country in terms of that that pressure is that they're facing in terms of the solution to the challenges, so we do quite a lot of work, of course with individual countries to identify where that is clearly unsustainable . and then those cases provide support which, you know, in the, in some cases it's the 3 profiling that's needed in other cases, deeper restructurings. so in a very country specific way we are working to identify what the optimal way of moving forward is. but again, you know, i want to stretch, that's the death situation in the region. it's really quite, quite diverse. you have a lot of countries that have, are facing fiscal pressure offerings in quite a lot of challenges, but are able to continue financing themselves through the market or relying on either sources or financing. but you have also have some countries where the depth situation is really quite difficult and you don't want those countries to to be
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paying debt, particularly at a time like this get. so getting relief for them would be important. so really as country specific and we're working in a country specific way with, with our thought a piece and maybe selassie from the m f. thank you. thank you so much. the now, what's important, unbridled to rampant corporate grateful social cohesion. well, it appears that china is choosing paying as medical a call that's taking a swipe, but some of the country's biggest companies, those are wiped out about a trillion dollars of chinese shares listed on the mainland in hong kong, and in the u. s. over the past week, it all started with a humbling of chain as riches man, that's jack mo. offrey challenge regulates re concerns about the stock market listing of his and the group. the central bank wasn't keen on tech. john's encroaching on the banking sector without proper regulatory scrutiny and protection
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for consumers. the property tact here was next. as soaring prices in cities had price dot residence and the young bay jane is threatened to build more social housing and tighten the financing of developers. while precedent, she has said housing is for living in and not for speculation. the sector has been regularly used as a tool to stimulate the economy and then there was more pain for the tech sector after ride hailing at dd floated in. new york, regulators weren't happy with its data security practices. next, the $100000000000.00 online education sector was brought to hill beijing said it didn't want hard press parents pay more money for after school lessons. and this week, state media hit out at gaming companies call them spiritual opium for young children . there's plenty to pay care, and i'm delighted that we're joined by daniel ives from new york. daniel is the managing director of equity research at wed bush securities. welcome, daniel daniel. first out. so for 40 odd years,
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china's allow this be their own version. if you like of capitalism to florida, but now it's instituted this cracked down. why do you think that's happening? welcome in the scale, a scope of this crackdown. it's something that's really caught investors by surprise. and you've seen it black cloud over chinese tech stocks. you know, i think in terms of sort of them asserting control in terms of especially i'm big tack with bob g, d, d, d and others continuing to get larger and larger. i think there was a widow sort of the dis, crackdown showing ultimately whose boss you're in terms of from beijing. but, but in my opinion it's really ultimately been a debacle in terms of the way that the scale. busy busy and how quickly they come down, it's really no matter where field. and when it's done, it's put a major anchor in the ship when it comes to chinese tax docs. and that's why there's been a massive rotation out of the china tech sector. so what do you think is behind
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this? is it, is it real altruism or is a more business like alternative? no opposing the former. i think it's something where you're starting to see. i miss him. what you see in the u. s. with saying names, google, apple, amazon. but, but in china, if you look from ali baba to gd, to dd, to buy do just expanding more and more. and i think it started. when you look at the and financial i p o, which ultimately was, was really a soap opera situation. and as these big tech companies about more and more powerful, i think is really scared beijing. i think it's sure to happen pretty quickly. this is them assuring the more of an iron fist in a crackdown but, but the problem is the way they've gone about it. it told me as a $1.00, 0 $1.00, how not to do it because it's come out of left field 24 hours later. the rules
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changed and investors ultimately. busy are, are holding the bag, right. i mean, the stocks of massively underperformed, and i think for these companies to regulatory goal post, no one knows when you wake up in the morning what's going to be new weather d, gaming, tutoring. stocks are e commerce and it's really turned into a har movie when it comes to the china tech sector. right. so it's taking everybody by surprise, but there's always when is, there's always loses, right? in terms of finding a winner here, i'm a radically the winner. it's by us path because if you're a global investor and i heared from investors in the u, as europe and asia, you're just seeing a massive relocation from chinese tech to us tech companies, even though still regulation. so if there's a net winter in the us tack, but, but in terms of, within china, i mean, this is really across sectors. you so much more powerful companies in china, from a regulatory perspective that crackdowns hurt them. and now i think even though
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right now, investors are trying to figure out what's the next step do, do they ultimately scale this down, or do they keep going down the path? because in was really what are called a us china. cold tech war is some of the biggest arsenal are the chinese tech companies. and now the regulatory crackdown is, is really starting to clip the birds wings and you start to see that play out in the market. i expect more european us and other companies really to go after some of the market share gain that you could see because of the regulatory crackdown and within china this attack on the education sector. it is incredibly competitive business. so it's a good thing that it's perhaps pad down, but when it work, i think the jury is still out because when i think right now the problem is that you still don't understand what the goal post are from a regulatory perspective. now there needed to be some raining in,
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but just like you said, i mean i think it's still needs to be played out over the next 6 to a month. there could be some share winners and some share losers. but what this is darlene, you've seen, and i mean it's really turn the sector upside down. and wow, the companies themselves don't know what the next step is, right. what about the property market? president says houses. if you're living in bed, it probably has always been a core element of any economy, isn't it? yeah, i mean that's why it's, it's one of these things where if you've ever invested in china, there's always been risk. and everyone's understood that. but now the race are really starting to percolate and really ultimately get to a point that to own any sector when in china attack is almost too much risk for an individual institutional investor. and you're seeing that massive rotation. and i think right now, just more and more the comments coming to china are perplexing. i'd say head
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scratching for someone like myself that's fall there for 20 plus years on the on wall street. and do you think this is she paying? aspiring to playing to the foreign middle classes. why i think there's a little that happening. and you may be me and say a lot, especially with what's happened electric vehicles and you're seeing 100000, our cars from the us perspective. fly off like hockey. right? so you're starting to see much more of a class divide in terms of the high and i think this is a little more. busy trying to rein in for the, for the middle class, but that capt. already out of the back. right. in terms of what's happening in china. so it's a little too little to wait. and now that crackdowns coming with the wrong time. and then there's a lot of unintended consequences that are coming and i think even be genes realizing the intent consequences, but yet they continue to trip over their own shoes in terms of how i think be communicated. and what about the knock on effects it around the world as,
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as washington and brussels look on and examine, reexamine, perhaps our efforts to curtail big tech. why then go, greg, you, a tory within brussels, within the beltway. i mean, there's rules and regulations. i mean, there's all play watching, so there's going to be continued scrutiny on big tact. but it all, to me happens more prudently. and i think that's why right now investors continue. so comes with a regulatory framework even though big tax can continue get rained in. but when you look, even when it comes to fines in brussels, what we've seen play out in d. c, it's nothing compared to china. and i would argue to us now stars maybe even have a little more position of power the day and even have the year and a half ago because of the regulatory crackdown because we're starting to hurt some of the core assets within china. the baba's, the bi, due to gd, look at the d, d i p o,
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that's another sort of black guy. and i think that's and that's going to continue to play out here in is a very well called rubik's cube political environment. interesting. daniel lives from new york, thank you. thank you. ok, a surgeon consumer demand has created unprecedented backlogs, of goods arriving in ports in the united states and elsewhere. snarling global supply chains, ships, and shipping containers are an extremely high demand, and the price of shipping has just skyrocketed. effects could be felt from corporate boardrooms to kitchen tables from reynolds is more now from los angeles. the, it's a container, ship traffic jam, the twin ports of los angeles and long beach. the biggest in the western hemisphere are packed with giant ships bringing a flood of consumer goods from asia in terms of the amount of cargo coming in. we have not seen anything like it. we've broken records here,
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month after month after month. that the port of los angeles ship traffic here is up 50 percent over 2019. and it's not just here in california all around the world from rotterdam to singapore. a surgeon export is putting a major strain on global supply chains and it's network of ships and containers. it's crunch time really in the container terminals as they struggle to get imports out when the exports in the reason covert 19 for months us consumers who are under locked down cooped up at home with nowhere to go. so they went online and started buying stuff like crazy american. basically since the start of this pandemic, after a few months last summer, went on an unprecedented buying surge. and instead of going to the movies or using their discretionary income on travel or airline tickets, vacation, baseball games,
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americans started spending, the goods that we bring in from asia just ex, loaded the spending spree, was supercharged by trillions and u. s. government payments. people are buying ports are busy economically, that seems like a good thing. but as with everything else in life, there is no such thing as a free lunch. the search has led importers and ex borders to compete with one another for scarce vessels and containers. driving up the price of shipping, prices are up 300 to 500 percent across the board. and who do you think will pay in the end? you've probably guessed it, it's really a significant increase in there's going to be a trickle down effect from this price increase into consumer prices. there might be scarcity of some goods during the 4th quarter of 2021 and the big december shopping season. and as for those pre holiday sales,
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instead of these major discounts that are often happening on black friday, that might be a little less just because the cost actually import and ship these products into a warehouse and get it in a consumer's hand, has differently increased, snarled shipping effects, not only merchants and consumers, but growers, like steve reinhold just recently received some information that we could be looking to double the ocean freight costs. reinhold exports millions of apples, but with ships no longer showing up on schedule, he's having trouble getting fruit on board. and even when he does well, i ad for a lot of apple arrive in europe on friday. normally at the 28 to a 30 day boat, right and worse, it was 64 days by then the apples were rotten. how long might this go on? it, it will take longer than most people expect to into fully unwind and get back to as i said, the next dollar. oh i spec stations is for this say above normal market could stick
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around for another 12 month, basically, pandemonium in the ports and in the supply chain. better get ready for higher prices and scale your supplies. and that says, i'll show you for this week if you'd like to comment on anything. you see, you can treat me nick, clark, al, jazz, please use a hash tag, a j, c t c, or just comes in e mail counter cost at l t 0 dot net is address. there's more for you on line of course algebra dot com slash ctc. that will take you straight to our page, which has entire s h b to catch up. that's it for this edition of counting because i'm the clock from the whole team. thanks for joining us. the news on al jazeera is next ah, something was going to change. anything really changed. this is systemic violence that needs to be addressed at its core. we are in
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a race against the barrier. know what to say. we are all saying we're looking at the world as it is right now, not the world. we like it to be. the devil is always going to be in the house. the bottom line, when i was just around this lights may look like a city from the sky, but their fishing vessels just outside tina's exclusive economic zone. the united states launched operations southern cross to combat, illegal and unregulated fishing in the southern atlantic. argentina's coast guard say the main task is to control the movements, so they do not cross into argentine territory from this room, argent time authorities can monitor for what's happening in economic exclusive zones. but what a 40 here are saying is, and what's important is to regulate what's happening in international waters. yugoslavia disintegrated. war descended on its inhabitants amidst the death and
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destruction, one man created a peaceful microcosm for boys whose fathers faced each other in battle. episode 3 of football rebels enters the world of footballing legend press drag push each who went from coaching boys, football to teaching young men life, frederick push each of the siege sarajevo on al jazeera. ah, this is al jazeera ah other given al, this is the news all law from coming up in the next 60 minutes to taliban says is captured another african provincial capital, the government horses, they are in control of the city. the rest i protested and the ty, capital.


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