A weaker you one was expected at some point in the past the u. S. Has been hesitating with the currency manipulator label over 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 starts 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 and 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 its i think if its a technical question and a logical question the know if its a literal sense of chinese officials actually intervening and work in the currency markets then yes they are a bit its more of a its more nuance than just labeling a country of china of china as a currency manipulator i think the u. S. Have to sort of take a step back and realize sort of why in the history of sort of 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 manipulator exactly so from a technical perspective and you know even based on u. S. Law the 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 1991908 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 that she the fact that the u. S. Administration and both if the u. S. Treasury are willing to sort of bend the rules here to make a political statement the question for us is like how far they wouldnt sit bend the rules in 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 for 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 yes 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 lukewarm 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 were made on the table is going to be pretty bullish on non benign scenario for Global Markets if heres a scenario excuse me that donald trump which you interviewed 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. 00 worth of capital simply with his 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 in 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 market so one sided soon adds a fresh sort of standing 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 driven 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 on some 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 that maybe theyd be running over to the e. U. And trying to sort of get a deal and sure 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 w. C. 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 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 pollin to off road trucks and head bumping along dusty trails Close Encounter with indonesias most active volcano the alert level from mount 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. Monteux 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 the 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 be 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 add 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 merapi know they live in the shadow of danger but have learned to adapt and even benefit from it. Now 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 authorities 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 when it came 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 go for backdrops and im yours 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 a 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 we really take care about our free Sustainable Service which are better ways with green energy and you know 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 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. These 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 account in the aljazeera dot net 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. Rewind returns with a new series. And updates on the past about using documentaries. Rewind continues weve grown by will compel the onion the onion the sweet its the heart. Of the city were holding on where are your nose to the 2 state solution today it is still barely possible on aljazeera. Argentinas currency falls to a record low after president rates or mockery set back a president ial primaries were live in. Im Richelle Carey this is al jazeera live from doha also coming up flights in and out of hong kong canceled thousands of protesters enter the main terminal bringing one of the worlds busiest airports toward branding also ahead. The threat is coming from the United States and its western allies who are pouring weapons into this region making it a tinderbox ready to blow up at a moment of rising tension in the gulf region irans foreign minister tells aljazeera the u. S. Is worsening the situation. Fall under lockdown the people in. Mr kashmir continued to protest decision to annex parts of the disputed territory. President has called an emergency meeting with the Central Bank Governor after the peso plunged against the dollar the markets reacted following mockeries unexpectedly poor performance in sundays president ial primaries are playing rival a virtual fernandez came in more than 15 Percentage Points ahead of the president the 2 will face off in october as general election joins us live from. A couple questions 1st is did it did anybody see this coming. Almost nobody and i suspect neither the president is still mockery nor will the winner rubies and these primaries are but the one im doing is expected to anticipated such a large victory as you say 15 percent in opinion polls before the primaries we talking about a one or 2 percent difference between the candidate is pretty much neck and neck so this is come as a big surprise to the political establishment here to the Financial Markets and it must be said the time the electorate who voted on sunday so what what can happen now between now and the actual election in a couple of months. Well as you mentioned the meeting with the governor of the central bank hes now in the merchants meeting with his cabinet to address the nation in the next couple of hours to talk about what his plans may be 2 and a half months in political terms when the government is in crisis is not a great deal of time i mean it must be said must be reiterated that no seats have been won or lost in these primaries but it was a huge indication and i think a condemnation of economic policies over the last 4 years his confidence has been undermined faith in his government has been undermined as far as the people are concerned in this far as the markets across so i think his options are fairly limited if he does what the people are asking him to do its a rejection of everything hes been doing over the last 4 years he came to office in 2015 promising to tackle poverty to control inflation which is one of the worst in the world inflation is going up poverty has got worse the country has taken out one of the biggest loans from the International Monetary fund it is history so the country has laid all daisys saddled with that debt recession so very difficult to see where he goes from now i think the country watching and waiting with bated breath to see what he will say in the next few hours all right and daniel want to know youll be listening listening into that and will give us the latest once we hear from him thank you very much all flights in and out of Hong Kong International airport have been canceled for the day thats after thousands of antigovernment protesters flooded into its arrivals hall more than 100. 00 flights have been disrupted demonstrators say theyre occupying the airport for a 4th day to raise International Awareness for their protest robin bride has the latest from inside an International Airport. Incredible scenes at hong kongs International Airport we just had to walk the last kilometer to get here joining a steady stream of protesters literally thousands of people getting off buses getting out of a vehicles walking through jammed roads to make it here to the terminal bringing this terminal to a complete standstill people here are outraged at what they see as the Police Brutality in the way that they cleared protest on sunday evening that geo hi yeah we here to support the 5 demands and now because the police have used excessive violence and have caused a lot of anxiety within Hong Kong Society we hope the government and police will address these issues directly and to solve the social problems and hope things will get to normal as soon as possible. A female 1st aide got blindsided by police because of close range shooting thats why were here today calling for an eye for an eye and also fresh shame on police circulating have been various clips of video of Police Firing tear gas inside stations of wielding battens against protesters going down escalators and so on especially significant is the wounding of a good one of the protesters who may well have lost an eye as a result people here are carrying various banners and posters calling Police Brutality calling the Police Murderers and so on it is true that police did seem to adopt tougher tactics in clearing away sundays demonstrations and possibly it was a way of trying to maybe scare people into not coming out not taking part in illegal activities if that was the case then maybe they have to think again. Entertain and as a china political analyst he says this has now become far more than civil disobedience. Well theres a this article 18 under the basic laws which allows the Hong Kong Government if they feel that the need help in restoring a Civil Society they can ask for the p. L. O. To comment but theres another option is well if china china and the mainland sees this as a foreign interference then they would be allowed to come in because it would be a defense of the nation and if there is any evidence that there are outside forces there are strong suspicions given the meetings by prodemocracy independents who are seeking regime change with United States officials also with officials from the embassy in hong kong this is fueling this feeling that the this is part of the all pressure tactics that donald trump likes use when hes negotiating just like with taiwan and the battleships going through there in the trade war. Irans foreign minister has accused the us of leading a military buildup in the gulf that could destabilize the region an exclusive interview with aljazeera job had to reset more warships in the area would only lead to more insecurity. Reports. As the u. S. Batanes the pressure on iran tension is on the rise american and british vessels have been deployed in the gulf as the u. S. Calls for an International Military coalition to secure the strait of hold was one of the wells busiest shipping. But irans foreign minister javad zarif told. The naval build up could destabilize the entire region this is a tiny body of water and the more poor and noble vessels you have in this body of water the less secure it is for everybody. Based on experience president s of the United States important neighbor pleat in the persian gulf has never produced security america will not be held hostage to nuclear blackmail it all started last year when u. S. President donald trump pulled out of the landmark 2015 year clear agreement with iran saying it was a bad deal and reinstated sanctions targeting to her and countries trading with it. The sanctions were soon felt in iran its economy is struggling and inflation is soaring iranian officials remain defiant accusing the u. S. And its allies in the middle east of plotting to undermine that country. Iran spent last year 16000000000 dollars on all of its military with almost a 1000000 people under arms we paid 16000000000. 00 the United Arab Emirates with a total 1000000. 00 population indigenous population spent 22000000000 dollars saudi arabia spent 87000000000. 00 now if youre talking about threats coming from countries in the region the threat is coming from the United States and its western allies who are poor in their pens into this reading now