A weaker you one was expected at some point in the past the u. S. Has been hesitating with the currency manipulator label or a concern that it could trigger a trade war but were already in one so the consequences are low and the negotiations with the International Monetary fund could take up to a year and some feel that the i. M. F. Wont act against china despite the u. S. Accusation of manipulation when he started mentioning the i. M. F. The question is what could he do there the i. M. F. Is a consentual organisation theyre not going to take sides in fact 2 weeks ago they already issued their own statement about chinas currency and they said that it is and why with International Standards despite the arguments the us says its still planning for a visit from a chinese trade delegation in september. Now a better place to talk about all things currency then patel is joining us now effects in global macro strategist at i care a good to have you with us so lets just deal with the very basic simple situation 1st about currency manipulation it isnt easy. Name i guess to label the chinese with in your view of a currency manipulator i think if its a technical question and a logical question the no if its a literal sense of chinese officials actually intervening and work in the currency markets then yes they are and that its more of a its more nuanced than just labeling a country of china of chinas size a currency manipulator i think the u. S. Have to sort of take a step back and realize sort of why and the history of sort of the chinese currency and you know yes one could argue in the i. M. F. Is that this is where the country of chinas size should not be having a managed currency or managed Interest Rate system they should be a fully flexible system but the approach from the us is completely wrong as soon as you apply tariffs as soon as you take a sort of more grass of stance on china they become defensive and i think you know it just its sort of his counterproductive to china beijing sort of 2025 vision of opening and liberalising the currency so it really becomes a political call them because actually didnt the us treasury report just a few months ago say they will buy it stands no china wasnt a currency manipulation exactly so from a technical perspective and you know even based on us nor their latest 2015 act was nowhere near sort of labeling current china a currency manipulator you know how to dig out some really old trade law here in 1990 going back to 1908 using some of the similar sort of laws that were played when china was 1st named coats in place of back in the early ninetys so look at think you know this is more of a political state. And the scariest signal for us from from this is actually the fact that the u. S. Administration and both if the u. S. Treasury are willing to sort of bend the rules if to make a political statement the question for us is like how far they wouldnt sit bend the rules and what could come next this is of course part of why this is a slight pivot but its part of a wider trade war which we know about between beijing and the United States when something is described as a war that implies there would be a winner and a loser im suspecting the more these tariffs are going on either side and then china saying were not going to be part of us our cultural imports either. Can anyone win a war like this the unintended consequences of this war and the longer it goes on could be quite damaging both sort of risky assets and equity markets and i think is fair to say that you know at some point someone has the euro to but theres just no end in sight yet so any thoughts they dont want might come next either trade wise or currency wise or actually is it a fools game trying to predict its yeah i think the last is pretty much the sense of trying to get into the mind of the u. S. Administration is always a predictable look weve got the terrorists potentially coming through on september the 1st theres always these sort of threats of us effects interventions accounts of the chinese sort of currency manipulation claims we put those risks is nuke warm but you know these are policies that 12 to 18 months ago we thought were unthinkable and now were sort of coming to council and think about them for us its you know as long as these threats remain on the table is going to be pretty bullish on been known benign scenario for Global Markets if heres a scenario excuse me that donald trump were to interview or the United States were to intervene in the currency markets how do you think that might play out so it really depends on. The firepower that the u. S. Have. On its own if the treasury works intervene without the Federal Reserve then we put it we put it as a 0 effect sort of impacts we think about the 4 trillion dollar daily turnover in global effects markets the u. S. Have barely sort of 18000000000 worth of capital to play with is so you know on its own no chance about having having a more than a signaling effect in sort of curb in the top of the dollar with the backing of the Federal Reserve they may have great sort of. Impact on dollar markets you know if you think about the fed sort of buying more assets in sort of new fresh round of 20 states of easing but you know then were in the realm of losing in terms of political and u. S. Institution credibility so theres always going to be a cost to any sort of extreme policy like this whether its economics or politics but either way you know it just seems as if 1. 00 of those sort of illogical and irrational moves from the u. S. But weve been used to seeing some of these are an illogical and irrational moves over the past 12 months just a quick thought john your neck of the woods in london obviously briggs it is looming the pound is falling your broad thoughts on the state of the currency there and whats next yet it doesnt really seem to be much lower for the pound right now in the International Markets i think you know when we look at sterlings move there is a strong game going on in currency markets of guessing what the right probability for a new brics it is comforting 1st of october so we look at betting markets they put it about 35 percent we look at sort of the currency markets that we back out we think its around 50 percent or 5050. 00 based on positioning so a lot of negativity is priced in it makes me nervous when the markets so one sided soon adds a fresh sort of stunning shorts from here i cant blame the market for sort of being pessimistic on the outlook for u. K. Politics again no end in sight but it makes me very nervous in chasing sort of cable lower when youve had such. Immense and sentiment you have a move historically when this currency is trading at this disconnect from fundamentals theres always a bounce back and maybe were seeing a bit of stabilization now were waiting really for the next move either from the you in you or the bush cabinet when it comes to the brics it sort this this requires maybe a little bit of opinion on your part but do you think theres a chance that some of this is deliberate letting the pound actually fall yeah i think ive misread sort of what the sort of johnson tactic would be post coming into power you know my my thesis was maybe theyd be running over to the e. U. And trying to sort of get a deal and sure a pursuit of markets maybe this is a game of chicken and egg whos going to blink 1st whether its going to be the e. U. Kayo e. U. My baseline view is that really like you know the odds of a trading terms coming through in 1st of november seem much less than what the market is discounting right now i think the political cost of moving to that regime would be too high for either side of the u. K. Or the e. U. So you know whether its a last minute save the day deal or something to kick the can down the road maybe thats where things that go in here but even then you know starting messes wont find much joy because what comes next for u. K. Politics do we get a general election do we get more sort of uncertainty this just doesnt seem to be a a majority view on what happens come the end of the year when it comes to u. K. Politics plenty to keep you busy then viraj patel thank you for joining us living on the slopes of the most active volcano in indonesia obviously has its dangers 275 people in fact were killed when mount merapi erupted 9 years ago since them survivors have returned to their villages and farms and as for once they found out some have found new ways to make a living. When the weekend arrives so do the tourists hundreds of them by the bus load the pollen to off road trucks and head bumping along dusty trails Close Encounter with indonesias most active volcano the alert level for mt merapi is now low its 9 years since the last major eruption. Turrets allowed to go into the danger zone as close as 4 kilometers from the crater. Used to be a cattle farmer but turned to off road driving after his neighbor persuaded him to give it a go. We know where theres been an interruption tourists are a bit weary and stay away but they come back when the government says its a volcano is dangerous of course but there are also been a fits. He sold some of his cows to buy his 1st utility. Now he has 3 this toll has become so popular that there are now about 900 jeeps that cater to visitors the highlight is that driving through a river and fans from the 2010 eruption. Its not just nature and the spectacular views that attract the tourists this museum of sorts is a testament to the power of. A collection of Household Items destroyed in the eruption in 2010 that killed 275 people. And doug is on his 2nd visit to merapi. Remember i was very happy and excited my 1st time here but this trip i feel a bit sad thinking about the people who died but its a good tour it educates people especially for people who live in disaster prone addie yes they know how devastating such a cure insists can be. I see knows just how deadly merapi can be. Hes the volcano spiritual guardian a traditional role going back generations. He succeeded his father who was killed in the eruption 9 years ago. People still come to pay their respects to him. Though farmers take grass from a rap the we take rocks and sand to build houses we need to love more rapidly its terrifying when it explodes but when it comes down we need to come back and take care of it. The people of morocco know they live in the shadow of danger but have learned to adapt and even benefit from it. Well if you live in a big urban city youve probably noticed the increase in use of electric scooters in the past year or so they dont come without controversy there are accidents theres the how recent felt by pedestrians but the overarching theory is that this kind of tech can help move away from the conventional internal Combustion Engine and berlin for example of stories of approved the latest venture a sharing scheme for a scooters which will augment existing electric powered mopeds can it help reduce the Carbon Footprint of the german capital from berlin dominic kane reports. This is the latest legal way to travel around the east scooter which uses no fossil fuels and leaves a very small Carbon Footprint but so far there are relatively few in the german capital instead there are lots of these electric mopeds which can reach from 45 to 50 Kilometers Per Hour and which can be hired on the spot for as long as you like and which increasing numbers of berliners are using to move around people like christoph hes an engineer living in the fleet of this area of the city for him having a vehicle he can use at the touch of an apple is very convenient he showed me how it works and the scooter thats there next to the. Backdrops and im here so its just 2 minutes walk 3 minutes walk once at the bike the principle is relatively simple but whats the whole experience like in practice there is maybe a one or 2 negative points so the one point is you just have one home at other. Companies they have 200 so if you try for a 2nd people you need a 2nd term and then its a problem if you just have one helmet. And the area regular you can use it its limited so it would be good if there if the area would be bigger but all in all its really cool cool feel. For the firm running this this the green dividend is key yes so we really take care about offering Sustainable Services which are better ways with green energy and yet basically our customers dont need to worry about charging the school just because we do the job for them and which charge the batteries internally and then drive to each and every scooter with a lot better a level and exchange the battery with full budget for the moment these bikes are still unleashed market but its pretty clear that the companies concerned have major expansion plans and they see bikes the. As their contribution to the overall fight against crime. Aljazeera. And that is our show for this week but wed love to hear from you you can tweet or message me directly im at. The hash tag is a j c c as well we can drop us an email accounts in the aljazeera dot net is the address there is more few online as well al jazeera dot com slash c. T. C. Takes you straight to our home page with individual reports links and entire episodes for you to catch up on but that is it for this edition of counting the cost to maria from the whole team thanks for joining us the news on aljazeera is next. Fly cats are airways and experience Economy Class like never before Qatar Airways going places together. And. From mother to daughter an ancient craft kept alive by a bustling matriarch. From start to finish. All traditions intertwined with new designs making this familys place unique into an easy as rich tapestry. The threads are not just 0. 6 a victory for an erotic but separatist forces in the yemeni city of aden now theyve agreed to a ceasefire. Hello im don jordan this is al jazeera live from doha also coming up. For the foreseeable future i would place the remains of the people the u. N. Says it will continue operations in libya despite an attack that killed 3 peacekeepers. At least 70 people were killed in tanzania after rushing to collect fuel from an overturned tonka. On defying a crackdown on protests the biggest opposition rally think is in russias up. Southern separatists in yemen have agreed to calls from saudi arabia for a ceasefire and even then 4 days of fighting in the city as separatists captured bases belonging to the president ial guard but after initially being called in to protect the president ial palace saudi forces withdrew before it was overrun by the violence is exposed on a pound rift in the south the u. S. Military alliance thats been at war with the who think since 2015 while yemens government is supported by the coalition the southern separatists have been armed and trained by the amorality is over but money has more. Heat battles are braced for 4 days in yemen 2nd 38 and since the rebels took over the capital sanaa in 2015. 18 has been the seat of the countrys internationally recognized government now key areas including the president to palace have fallen to southern separatists analysts say their goal is to win back the independence the south lost and the 2 yemen see knighted in 1990 this is what they have been fighting for since 2007. Thats about. More than 10 years now. Since they have been demanding their separation. And their. Chance at the moment to now. Is there and i think also the regional and national and International Circumstances will be in. Their favor of this is what is highly likely to happen that separates this flag represented south yemen when it was independent between 1967 until 1998 Group Doctors without borders is calling the city. A battlefield. After dozens of the soldiers were killed in a hoot the attack on aug 1st southern separatists accuse the internationally recognized and saudi backed president of failing to protect them and called for the government to be overthrown. Many people have fled aden others are trapped in their homes including this aid worker we hear the sounds of mortar shells from time to time without knowing the source or the target to be hit some houses in the city are directly hit or fire fragments into the houses or the cars for example a group of men sitting in a cafe easter day were hit by a mortar shell the battling side who once part of a Saudi Led Coalition theyve been fighting hutu rebels in northern and western yemen for more than 4 years the latest violence threatens to open a new front in the 5 year war which is killed tens of thousands of people. 6 out there a. Professor at George Washington university he says it isnt clear saudi arabia can broker a deal. Its actually kind of odd that you would have a ceasefire so quickly because that allows the southern separatists to consolidate their gains rather than be ousted rather quickly and so its clear that saudi really believes it can. And find a solution here and im not so sure that they can do that easily even giving their wealth and their status because the southern separatists have been trying to do this for a long time they have longstanding grievances and its not clear that there will be an easy deal to make i think this is also a story in many ways of what happens when a proxy war is fought and a power comes in and escalates the conflict but also in some ways stabilizes things on one side of the conflict and then leaves a precipitous plea and what the u. S. Did in leaving precipitously is actually further escalate the conflict by leaving a different factions that they had supported stronger against other factions that they hadnt supported and they actually are to blame in part for this mess the u. N. Secretary general antonio get pettish has condemned a car bomb attack that killed 3 United Nations employees in libya explosion in the eastern city of benghazi moments before a u. N. Convoy possibly a real u. N. Security council has met to discuss the convoy attack on the want a situation in the country. I joined others in condemning in the strongest terms todays attack on the u. N. Convoy in benghazi we send our deepest sympathy to the families of the victims the un exists to help and protect people and attack against its representatives is an attack on the International Community at large and we salute the work the uns menace doing in libya at the same Time Assistant secretary general said scores of libyans have also been injured safely the libyan representative can i convey my countrys condolences and sympathies to his country and to his people when he won the peacekeepers have also responded saying the attack will not stop them from continuing their operations in libya. It serves to highlight the continued danger of terrorism because a country and the limits of Effective Security control in the absence of one government and one military and police force walking across the country it also confirms that this latest both of us still it is is creating a vacuum easily exploited by hardly called elements that strive on cowles and violence the United Nation doesnt in turn to evacuate from libya. For the foreseeable future i would place the remains. People well earlier the libyan warlord to leave after last said his forces will observe a cease fire during the holiday starting from saturday the internationally recognized government in tripoli as already accepted a un request for a truce for the festive period after us forces launched an offensive to take the capital tripoli in april hundreds of people and killed in the fighting. Now the 70 people have been killed and Dozens Injured in a fuel tanker explosion in tanzania it happened in the town of t. V. Thats just northwest of the capitol dome or people were trying to collect filled from the vehicle which had overturned malcolm one of reports. The inferno engulfed dozens of people. Minutes before a crowd gathered to collect petrol spilled from a truck that tipped over near the town of moore in eastern times and here in this video the last thing i heard is a woman screaming fire. For minutes later video thats too graphic for us to show the people on fire running from the explosion and piles of charred corpses find. This piece and shouts get out of there if it doesnt it was too late. We are continuing with our investigation to identify the victims and were looking through the property that has been burned so that we can get an accurate number of all those affected. Many of those who came to collect fuel motorcycle taxi drivers for people struggling to get by a few liters of free fuel can help feed a family or keep children in school but collecting it comes with enormous risk. I came here on a motorcycle and as we approached the area we found the truck overturned and the driver got off and asked the riders to get away warning that the vehicle could catch fire the riders didnt listen and continued to fetch the leaking fuel a man tried to steal the vehicles battery and thats when the fire started police say theyve launched an investigation dozens are in hospital many with severe burns medics have appealed for blood donors. This Community Left in shock at this rapid and brutal tragedy malcolm webb aljazeera Nairobi Kenya now thousands of palestinians are expected to gather a mosque in occupied East Jerusalem for the 1st day of the muslim festival of. At the same time there are reports that jewish settlers planned to storm the compound there is central to the Israeli Palestinian conflict and has been a regular flashpoint as both sides lay claim to it but jews refer to it as temple mount the al aqsa compounds a western wall is the holiest site where they can pray for muslims the compound houses the derma the rock and the locks a mosque which represents the 3rd holiest site in islam jordan holds custody in ship of al aqsa mosque but its role has been challenge for peter they will have a force that joins us live now from occupied East Jerusalem how you sort of talk us through whats the scene and some must now. Well were here just one of the roads leading to the old city here not but its true slim towards lions gate and one of the entrances to the al aqsa mosque compound as you can see thousands of people have been coming through the streets many of them chanting aid prayers as theyve been called on to do by the walk the Islamic Authority which runs the compound in accordance with the jordanian government and they had also instructed all of the mosques in the area to be closed this sunday the 1st day of eed they delayed the ied prayer from the may need prayer from dawn to 730 to try to maximize the number of people attending at this time thats because at 730. 00 in about 20 minutes time would usually be the time that non muslims would be allowed into the site from the other side usually the Police Prevent non muslims coming in on major muslim festival days such as this one but there have been calls from right wing and religious nationalist jewish groups to be allowed access because this day is also an important jewish holiday of where jews mark the destructions of the 1st and 2nd temples the jewish exile its a day of mourning fasting but behind that there is also. An increasing political effort to try to get more access to the temple mount as they call it the arsonist compound where currently only muslims are allowed to pray sometimes when people get inside there is their attempts are additionally to pray and there have been minor skirmishes and clashes in the past whats interesting is usually police as i say dont allow people in non muslims in on muslim festival days in june towards the end of ramadan they did they went against that precedent were all waiting to see what the decision is today and heidi theres been some recent violence in gaza how is that playing into todays events. Yes there is a background of increasing security concerns over the last few days just this morning the Israeli Army Says that its shots a unarmed palestinian man trying to get through the border fence they say that he shot at Israeli Forces on the israeli side of the fence and that in response there was
comparemela.com © 2020. All Rights Reserved.