Honeymoon from the rancher modis landslide victory was short lived reality struck as the economy lost its title as the worlds Fastest Growing large economy and truth the economy was brushed under the carpet as modi concentrated on Security Issues modi had carefully crafted his image around his track record in the Economic Development of his native state of gujarat he promised to repeat that performance nationwide the economy expanded just 5. 8 percent putting it firmly behind chinas growth of 6. 4 percent asias 3rd biggest economy managed to grow 6. 8 percent in the full fiscal year ending march 31st its slowest growth since 2014 and thats a problem because india needs to create 10000000 new jobs a year to keep up with the 1000000 young people entering the workforce every month and the trouble is that not even the former economic adviser believes the countrys economic numbers now modi has appointed the countrys 1st female finance minister since interior gandhi to tackle the challenges or mollusks of the raman has a masters degree in economics and also served as a junior finance and commerce minister in modis 1st term and it needs sustained growth of 10 percent a year term prove the Living Standards of its 1200000000 people its the kind of growth that has propelled china to become the 2nd largest economy and help create much needed manufacturing jobs. So a misfiring economy missteps and many challenges ahead for modis government. Takes a look at the real cost to everyday people. For heat will jail is a young graduate hes among 1000000. 00 young people who join the job market every month but hes been jobless for the last 6 months he had a temporary job with the Money Lending company but now he lives with his brothers and is a pendant on his family for everything he is desperate and says he needs a job. Its difficult to get a job now the competition is very huge and there are a lot of people who are graduates but are unemployed for one single position there are many people waiting in the queue for the same job if there are 10 jobs there would be at least 1000000 job applications im trying to Contact People through people who i know for a job i asked them if theres an interview if theres anything where i can apply but no response till now critics claim their president iran policies have failed to generate enough jobs for millions of young people the make in India Initiative which was to transform india into a manufacturing hub has also been a failure despite advice from the central bank modi pushed ahead with plans to withdraw all High Denomination Bank Notes from circulation it was a move aimed at curbing corruption but was a shock to the economy. These Small Businesses were the worst hit by modiste monitise asia in 2016 gram chander had a Small Business used to be a traditional weaver in mali region of dash but because of industrialisation he sold his hand loom and came to delhi the year im going to put america on a business of selling doormats it used to be a good profitable business for me but these days my business is gone bust and now im even struggling to make ends meet at home the demonetize ation and 2016 room before that my business used to run well but after the monetize ation i lost all my money despite past failures modi has a majority to push through much needed changes to the economy failure to deliver jobs will damage his image as an economic miracle worker for counting the cost cuts leon. Lets discuss some of those challenges modi faces for that lets turn to share on talia hes a professor at the gentle school of International Affairs in india that this week he joins us from dallas and lebanon we appreciate your time very much so to make any type of meaningful dent and unemployment economists say that n. D. S. Economy needs to grow at about 10 percent it doesnt seem that the country is even close to 10 percent how would you characterize where the country stands on that well yeah i mean growth has slowed down lately and one of the reasons for that of course is that the manufacturing has not taken off and manufacturing was mr moore these big agenda in his 1st term from 2014 to only to those 19 call it make in india and that was supposed to have delivered millions of jobs so it has not really progressed as much as expected so in the 2nd dont theres a lot of hope engine on this making India Project which should generate you know semi skilled and low skilled employment and of course rev up the growth rate so and besides manufacturing i think theyre looking at other monetary stimulus and reforms large scale Structural Reforms that can speed up the growth rate the last quarter growth rate was the lowest in a long time so i think theyre now looking to juice up the economy and to get it you know galloping as much as they can so you talked about modis 1st term during his 1st term he promised that he would deliver 10000000. 00 jobs hes clearly fallen short of that do you think that this 2nd term for some people is about giving him more time were already that people dont understand the sense of urgency about getting those numbers up now i think see if there is always you know our demographic bulge in india needs to be very young and lot of people coming into the labor market and not finding having the skills and finding the appropriate you know job well but you know. This yes the onus is on the government and mr modi knows that people voted for him this time overwhelmingly in the hope of the positive expectation that the things will only get better and in that sense you know there is a huge responsibility on his shoulders and years now named the new finance minister nicolas either a man whos quite capable and i think the Price Inflation if you see is quite stable so over the last 2 years so they have room for you know monetary stimulus and for reforms now because the political stability and price stability cushions through which mr modi can you know try and you know is reengineered the Indian Economy on a high growth trajectory you talked about the new finance minister in fact shes the 1st female finance minister sense and theyre gonna tell us more about what you think of our what you know about our numeracy that im on used to be Commerce Ministry under mr minister under mr modi dealing mainly with our trade relations with other countries the w. T. R. Negotiations and all those things and she has a background in economics so i think that will help really shes also looked for international consultancies she understands the Financial Markets very well and of course she has good relations with the Indian Business houses and the National Local capitalists so i think she will be looking at you know balancing all these interests and also of course the farming and the working class so all of these are important for political reasons for mr moore the and mr rahman so overall i think shes a good pick and she makes some tough choices and she stands by them so shes in fact the 1st full time female finance minister Indira Gandhi you know was was Prime Minister and simultaneously finance minister but. In that sense of history maker and we expect in policy isnt some historic changes including more reforms to allow. And then labor regulations which will really really take us to the next level in terms of growth and Employment Generation to end it has cut the Interest Rate to its lowest level in 9 years how do you think that might stimulate the economy consumption as well as credit and investment all these 3 depend on the Interest Rates as we know so they are using the cane easier in all macroeconomic leavers of trying to use up the economy. You know lower Interest Rates so that theres more borrowing and more Economic Activity and in fact the slowdown of the last quarter was related to. Dip in the consumption and domestic consumption is the bulk of indias g. D. P. And its growth so i think theyre out on the right track and because those said the inflation is under control they can manage to reduce the Interest Rates even further if required in the coming so unlike other Major Economies over the last 10 years india has not used Monetary Policy much to stimulate the economy because it was going great its only now you know that theres a slowdown so i think they can now afford to maneuver this tool a little bit they are to you talking about a slowdown lee been talking a lot about numbers that the bottom line is a lot of people dont necessarily trust these numbers where do you bolster the trust for these numbers that matter so much there was a revision done are doing this to more this was tom and there recalculated the baseline on which the g. D. P. Figures had been. Constant for the last several years and they added some Percentage Points so you know its debatable i mean some people say its actually 5 and not 7 percent of the actual growth rate but so is the case the china and many other you know rising emerging powers they have you know a little bit dodgy figures but i think. The biggest line if you look at the world bank and the International Rating agencies i think our outlook has been improving under mr morley so they will take solace from that and definitely statistically and in terms of a calm and in terms of documenting everything india is largely an informal economy and almost people are off the books and off the records and mr modi have been trying Digital Economy to put it ripping on record so that every economy activities accounted for an added up in the whole g. D. P. Calculation so i think statistically we should be Getting Better and more accurate over time ok lets hope so thats quite an undertaking dr surround thank you very much for your time appreciate it my pleasure. After 25 years of importing the worlds waste china through the Global Recycling industry into chaos it refused to buy Plastic Waste rich nations have gotten used to exporting the rubbish to asia where labor is cheap and Environmental Standards were not enforced or were nonexistent matters came to a head when many asian nations couldnt pick up the slack from chinas refusal to take and waste just trying to get your head around the numbers that is challenging but the impact for the environment and our planet is disastrous theres a lot of money involved the Global Market for Waste Recycling is worth 300000000000. 00 thats according to consultants from frost and sullivan Plastics Recycling alone is estimated to account for 37600000000. 00 in 2080 between 1950 to 2078 point 3000000000 metric tons of plastic has been produced so lets put that in context. Thats a quiver of 25000. 00 empire state buildings or thats enough to cover the entire country of argentina were still 3 quarters of all plastic produces now and landfills or in the ocean only 9 percent gets recycled and 12 percent isnt center rated. Over 25 years china imported 106000000. 00 metric tons or 45 percent of all Plastic Waste and china will only buy Plastic Waste that is 99. 9 percent pure in other words recyclable exporters mostly from rich nations scramble to find new markets such was the scale of chinas imports countries like malaysia indonesia thailand and vietnam were soon swapped and unable to cope it took the philippines 6 years to send 60 containers of toxic waste back to canada more than 100 containers or about 2500 tons of waste were shipped here from canada and 2013 in 2014 the containers have been mislabeled as recyclable rubbish impoverished communities like this one in downtown miller the ones who suffer the most from the disposal of Hazardous Waste load it. Is then i would advise them and you have got a big. And overly big bear going to do and. It did you learn. The malaysian government also says it will send back some 300 metric tons of nonrecyclable Plastic Waste to countries like Canada Australia and the us. It is costly and pay for Research Countries to send their ways to poor countries simply because the poor countries have no tries may be even contribute a little to their economy joining me now via skype from perth in Western Australia is James Reimer Jane is the 0 waste coordinator for the National Toxics Network of australia appreciate your time very much so recycling it is big business not so much for developing nations though it doesnt really add a lot of value to them is there any way to quantify what the costs are to some of those countries the health cost the environmental costs as a way to quantify that well to be honest i dont know if there is a way to quantify that because the impacts all. The juicy recycling recycling materials that are going to the Asia Pacific Region are cruising profound Public Health and environmental impacts and im not aware that you could put a price amount. Because the impacts are intergenerational the global and they impact 1st nations people disproportionately im not sure how you quantify that but i think. There is international that Plastics Recycling particularly is a major global issue and thats why International Conventions like i was a convention stepping up to address the issue so that the asian nations that youre referencing a better being negatively impacted by this as it is that capitalism is a grade is that inequality what is it industry for alone time particularly the plastics packaging Packaging Industry and the rest its Production Industry which are inherently tied to the fossil fuel and Chemical Industries currently industry externalizes all of those calls. The products and whats the product is sold thats the end of irresponsibility and yet we know. That. Model of old is news its leaving family and globally disastrous. And west management problem that is good teacher leigh i just caution at me affecting the region so when you talk about this being a global issue and having a global n. Pact is there any i mean i dont know the g 20 s. Or some Global Organization that is willing to address this that has shown any interest in addressing this to have some sort of agreement some sort of accountability for these things it is more political mechanism its not legally binding whereas International Conventions like stockholm and by those who conventions are legally binding just recently weve seen the convention address the issue all the trans boundary shipment weve read recently the. Strain in 80 in exportable of contaminated waste in countries like philippines indonesia and malaysia and its not as if the gluten countries havent known that distance i mean based certainly from what has been plenty of warning so jane when it comes to these they single use plax plastics there are some companies that are making an effort to do away with them but a lot of the Larger Companies just have not been able to replace plastic with bio plastics and some point does it just come down to either are going to use plastic or all the plastic has to go no not at all the plastic. Waste disaster is a symptom of a failed twice Management System while billy and the inequities that exist globally that exploit asia pacific countries particularly some of the solution to the Plastic Waste problem is really. A cripple. A much deeper. Holistic approach to improving Waste Management across the world and many countries are stepping up and doing that but we have to look at why and how weve come to this situation and we cant really address adequately the issue of both plastic aleutian and the problems its creating if we doing to address the Waste Management and the leni have materials Production System that driving it generation its so it is eating your economy it means. Using finite rule materials. Producing products and then disposing object to landfill. Or tunes or worse to incinerate those at the moment a lot of the contaminated too late into the eyes of the ocean because we dont have strong global laws to prevent that although the by the conventions trying to address that we need to address the dinosaur in the run which is that. She was production process its time to go and we need to move to more sustainable waste Management Systems jane farmer thank you very much thank you very much now norways one trillion Dollar Sovereign Wealth Fund has decided to sell its stake than 150. 00 or oil and Gas Companies and poor more money into Grain Ventures thats a trend that car makers are following as they turn to electric power the shipping industry which moves 90 percent of world trade is came to or 2 sets greenhouse emissions its Carbon Footprint as the same instrument and the car quintile stein that norway where one Cruise Company setting a grain example. The club and yachts in the west coast of norway where theres been a long rich history of ship building but this is Something Different to ships the Roald Amundsen the for itself once in a nearing completion and there are steps into the future crises vessels the fate of the arctic this is ships that will take paying passengers to remote parts of the world powered partly by bashing but you expedition ship together is a complex process as you might imagine involving welders carpenters and plumbers and of course electricians theres more than 750 kilometers of cabling to say nothing of detailed and extensive wiring powering the ship myself generated electricity the battery zones in place yet so whats what are we whats going to be put in place and what will we see this rack your kind that can fit 20 m. Battery cells and it will be about toast was for each cell or each rep here with this rx with we have behind us now we can reduce to 20 percent off the fuel consumption of the ship. The vessels thrust will come from a combination of diesel and Battery Power batteries and cells will be constantly charged by the ships engines as they run. Kyle writes and will be captain on the Roald Amundsen as she attempts a Northwest Passage later this year its really important because we are going to remote areas on the areas to be able to do you know feet footprints but. To give you is only the green footprints we supply the polar system with the batteries as we are sailing but also when we do the operation in the arctic on time. Given the shipping industry is responsible for a significant proportion of the Global Climate problem change cannot come soon enough ultimately the dream is of a ship with no need of a funnel hybrid and reducing consumption is one thing but even more interesting i think is the work that is now going into fully electric. Shipping weve seen some initiatives on that as well in norway and thats an area where. The Norwegian Shipping industry might get an advantage as an early adopter electric fairies can already be seen in some of the worlds ports while on shore power and others enables vessels to be plugged in so engines can be switched off while docked. And hurtigruten the now planning to convert several ships like the nord cap here drawn on a combination of fuel including bio gas made from organic waste like timber and that fish the day when the mega ships of the world a powered solely by Renewable Energy well that is still in the distant future claiming glass soaring steel and concrete columns those are the usual things that come to mind when you think of skyscrapers but and the future the worlds great cities may have some skylines built of a different material would john hendren reports. If a new generation of rogue architects has their way the era of the concrete and steel skyscraper might be over the future they say lies in a millennia old Building Material would the challenge is actually in the believe it or not not structural its more of a psychological barriers of getting over there were working on the New Buildings are made with cross laminated timber stronger because the layers of wood are stacked in opposite directions the technology has been used for years in europe wooden buildings like the airy 80 story river beach project in chicago might just be a blueprint for a new era in architecture the reason this is kind of exploding right now is because its an engineered what technology that uses small diameter trees but are combined to make massive panels. Wooden buildings go up faster and cheaper a concrete floor takes at least 2 weeks to dry for each story timber weighs 80 percent less than concrete so it takes fewer trucks to deliver the wood which is cut in the factory in snaps together with not a saw on site but theres another more pressing reason to use wood timber buildings are greener both ice caps are melting in the storms are getting worse it we all have to step forward and do what we can and in my profession what i can do is change my material choice for what im going to build with and build with something thats more socially and environmentally responsible the manufacture of concrete and steel emits planet warming Carbon Dioxide would absorbs carbon actually cleaning the air i fell in love with a bellowing i love their windows the view is at 29 meters this is the tallest cross laminated timber building in the United States but the architect who designed it is already designing another one at 137 meters and he says with these materials the skys the limit the growing industry faces to nagging questions is it deforesting the planet they say by using smaller trees from certified renewable forests there would supply is sustainable and what about fire architects a wooden buildings can be as fire safe as any other is treated mass timber chars rather than burns. The biggest open question is whether builders and consumers will buy into the idea of living in a wooden building towering into the sky. And that is our show for this week please do get in touch with us you can tweet me its at we shall carry also use the hash tag a. J. C. T. C. When you do you can also drop us an email counting the cost of aljazeera as our address right there there is more for you online as well at aljazeera dot com slash c. T. C. Well take you to our news page theres individual reports links and entire episodes that you can catch up on. That is it for this edition of counting the cost our nischelle carry from the halting thanks for joining us the news on aljazeera next. Both floors in cameroons rivers. On. Plastic is everywhere. But if bottles can be fishing boats. Im bubble gum wellington boots what more can be done with this plague of polymers. Earthrise reimagining plastic. On aljazeera. We understand the differences and the similarities of cultures across the world. So no matter where you call home ill just bring in the news and Current Affairs that matter to. Aljazeera. Make stories generate thousands of headlines with different angles from different perspectives to separate the spin from the facts with the listening post. Youre watching i was there im so wrong in the heart these are all top news stories egypts 1st democratically elected president has died after collapsing in court while on trial on espionage charges Egyptian State television says Mohamed Morsi had a heart attack hed been in prison since 2013 when he was toppled after less than a year in power in a statement the Muslim Brotherhood says it holds the president of the federal sisi and his government responsible for what it calls was the planned criminal killing of morsi his lawyer and family now say his body has been varied in cairo. Earlier said egyptian authorities refused permission for him to be laid to rest at the family plot human rights activists say more seasoned medical condition was ignored by egyptian authorities and harsh conditions in solitary confinement could have led to a premier chawed death Priyanka Gupta has more. A death that human rights activists have called tragic but predictable and what former egyptian president Mohamed Morsy supporters say is a modern 17 june 29000. 00 morsi appeared in court for a trial on charges of espionage he asked a judge if you could speak during the session in what is now his final address morsi demanded a special tribunal and better trial conditions the public prosecutors say the 67 year old man collapsed and died in a defendants cage much better than me or less all of us a little help than the know how medical source has revealed the details of the medical condition of Mohamed Morsi who died monday afternoon due to a surprise heart attack during a Court Session for the espionage case the source
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