A half 1000 even germany the country still seen as exemplary for controlling the spread of the virus in a shop jump cases the u. S. Has tightened sanctions on irans Financial Sector measures against 18 banks that were already under american sanctions have now been ramped up and the fact of theyve been cut off from the International Financial system over most of the children in washington this is hurting the iranian people certainly we have seen that criticism coming not just from e. U. Nations but also from a wide range of humanitarian organizations around the world now the Treasury Department when in announced this latest round of sanctions against these 18 iranian banks said that these banks would still have exemptions so that they could bring in funds to facilitate the purchase of emergency food and medicine. Russia has invited the Foreign Ministers of armenia and azerbaijan to moscow for talks as they try to end an increasingly violent conflict also mediators from the u. S. Russia and france have met in geneva to try to find a resolution at least 30 more soldiers are reported to have been killed on thursday and 6 people have been charged with trying to kidnap the governor of the u. S. State of michigan the f. B. I. Says the men were planning to take from her Vacation Home whitman was both praised and criticized for her strong response to the coronavirus pandemic armed protesters did gather at the states Capitol Building for weeks back in april and may after major restrictions were imposed across the state. There you go youre up to date with the headlines once again on aljazeera the latest edition of inside story is next. Despite the pandemic billionaires have never been which says millions are being pushed into extreme poverty with income inequality a widening of the big bridge and could this dispositive fuel more public anger this is inside story. Well welcome to the program. The wealth of the wells billionaires has reached record highs of the peak of the coronavirus been demick a new report by swiss bank u. B. S. Says the elites have done extremely well during the crisis thats as millions of people out of losing their jobs or struggling to cope another report by the World Bank Expects extreme poverty to rise this year for the 1st time in more than 2 decades up to 115000000 people could be pushed into that category living on less than 2. 00 a day the stock findings come amid rising concerns the Coronavirus Crisis is only going to deepen your income inequalities lets have a look at some of the conclusions. Billionaires have mostly benefited from the generally Strong Performance of Global Stock Markets since late march their wealth jumped by more than a quarter from april to july hitting more than 10 trillion dollars industrialists elevators in technology and health care are the biggest winners chinas billionaires have increased their wealth by the largest percentage in the past 11 years but the biggest accumulation of wealth with mainz in the u. S. On the other hand of this cave coronavirus is expected to push up to 150000000 people into extreme poverty by next year the poverty of great was expected to drop before the pandemic of this year its expected to affect almost 10 percent of the worlds population about 8 in 10 of those who will be pushed into that category live in where the world bank calls middle Income Countries such as brazil indonesia and south africa the bank has raised more than 160 1000000000. 00 to help countries manage the Health Economic and social problems caused by the pandemic the Economic Impact of the pandemic has led to protests in several parts of the world people have defied regulations and taken to the streets against policies they say discriminate against the poor. The demonstrations were mainly in hard hit countries in Europe Latin America and africa tens of thousands of South African workers took part in nationwide and to government protest on wednesday they are angered by missing funds from a grown up virus relief package that was meant to help those who have lost their jobs and get protective equipment for 4th line workers. Lets bring in our guests in london meghna decide economist and member of the u. K. House of lords author of masters revenge the resurgence of capitalism and the death of statist socialism in new york thomas pogge a professor of philosophy of the l. University is also author of global tax fairness and ruled world poverty and human vice also in london edwin a curiae africa executive director of the one Advocacy Campaign what came to the program more decide we have millions and millions of people pushed into extreme poverty this particular. Moment what do you think who do you think should we blame 1st about this issue asian. Well you know one of the things about the person to a crisis the caribbean demick is that it is really unique in the sense that both supply and demand and simultaneously really gerlach your 400 supplies down factory what im doing and people dont have power we give people protesting power to restart my duties because proximity of workers leads to infection so far during the short months because of lack of demand and because of infection and does make people other employed and they cant work in unusual situations and government to coping with it in there were right to arrange they could cope but mainly by pumping money into the system left right and Center Giving money to companies are going money to unemployed workers and hoping that somehow it all miranshah up and cause everyone will all production but the quote we call occurring again and again im sorry to sound quite understood the nature of the transmission so we have a lot of downs and also to thing which internal production are interpretable exact that so we have actually a good and usually economic alliances in rich governments are pouring out money somebody is getting the money but the moneys probably learned redeemed in the right path where the need is lost and so we get the rich getting richer and the poor staying exactly tell us now we see this 2 reports coming from you the ass and from the wealth bank defecting to different realities about a wild weather the best of the coming but chad where the poor are paying a heavy price and the reports suggest that its covered 19 is Climate Change and its context knowsley to blame for the situation should we take those things for granted as the main culprits the top us. No i dont think you should take them for granted i think one underlying structural reason that has been there for a long time is the way in which the ground rules of the World Economy are designed these will systematically benefit the rich or people because they can take a lot of influence on these tools they can influence governments for example in regard to intellectual Property Rights its very close allies with the trips agreement part of the founding documents that have e. P. O. And also within the domestic scene you see that the rules are for example the tech system will subject evasions on corporations corporate taxation. The. Text treaties between Different Countries all these things systematically changed in favor of the rich because they can exert a much greater into hands on these Political Considerations them the poor can so we have in that kind of spiral downward spiral where the rich use their money to executive and influence which in turn. Means to shifts the rules in their favor which in turn makes them even richer and even more able to shift the rules in their own favor which of course means against the poor and when nigeria stands a stock example its an extremely wealthy nation but according to all the reports it stands as a nation that has before poorly in terms of reducing inequality whys that. I think a colleague to just talk about it now give the right the nail on the head the 1st is that talk about the history of how we have niger has come to be from the quality of colonial history where power is concentrated in the hands of a few people elites who are close to the colonial masters and then that passed on for generations on to the point where the military took over you know again keeping power in the hands of the top military brass and then for many years over 40 years disco went on and then you saw that decisions were made to concentrate power even for among the people who already had access to power and concerned of wealth among their own beneficiaries among their own. You know people within their own circles so what youve seen cut particularly in nigeria is that though it is rich in terms of the resource what a resource is constant concentrated in the hands of a few people in the sectors that really benefit the most people i Greek Culture you know is still very poor productivities it at the lowest level and as such what you see is that once the access to this rents to the wealth from oil for instance you know it appropriated to a few who are in power that just continues to multiply and so the gaps continue to increase and those who really work on the farm every day trade in those ones are still at the bottom of the wrong struggle every day to try to get out of poverty so is the stock reality or a way out gives power and power gives us lower design i mean the reports talking about social and economic disparities the have been soaring in particularly 3 countries mexico argentina and brazil where those country countries were known in the past for somehow managing to control. The inequality gap should wait should we should we infer by this that the moment you change the political system thats where uncertainty starts. You know i dont think political systems so the easy to change the remember that iran was remarkable factors here is that now in developed countries in the rich countries not markets they recovered faster than the economy has because the Central Banks a pouring money out and that makes it easier for people to buy. And. I think basically its safe if youre into india or brazil. Ns of democracy. How does it actually came into of the elite power system that while all of the government may do something for the lower middle classes and give them a little bit extra better Education Systems or Health System i wouldnt remarkable and while the world emits instruments connected with events with globalization and that hurts the rest of the people and wont governments get relented or get elected i mean that brazil had an amazing left during our government for 410 years 15 years i mean all 4 but you know it was going to look after the foreigner people of the foreigners its of all. But somehow its a very difficult to make a substantial to change in our political system. We dont overbook have revolutions you have to have a religion they dont all require i think we need to know something about how to change can be brought to part b. To be permanent and i think brazil bridges was a very very prosperous country a little under the weather of good stuff like argentina under the lived but having bad politics no im better other countries like that i need to use see for example that south asia india again and again we think its going to get out of poverty is going to get out of a problem i think again its the old back so in india you do need a pandemic Something Like 200000000 workers were discovered to be Migrant Workers who had to go back to where they came from because it couldnt couldnt work rather well where they had migrated to opt out and so it was a very pathetic sight of 200000000 people in the public roads so we need to know much more about how to insert order to can change we. Professor thomas with covered 19 the g. D. P. Globally is expected to contract by Something Like 8 percent and there are concerns that that could further deepen if theres no vaccine by 2021 have been an advocate of the Health Impact fund to stimulate research and development for lifesaving pharmaceuticals to reduce the burden of disease do you think that this could be the moment to trigger the issue once again yeah i hope it will be the moment i mean we have very productive conversations now with politicians and the Decision Makers in several countries also people at foundations in order to try to jumpstart the Health Impact fund. And one thing that i think is particularly now on peoples minds that this we have to fight diseases at 2 Different Levels and you have to fight them at the patient level where we help individual patients get healthy and we have to fight them at the population there where we try to shrink the incidence of the disease the 2nd is not at all its send a biased under the present rules under the present rules if you have a patent monopoly then of course you dont want the disease to be eradicated because you make your money on selling the drug to people who are sick and if there are no longer any people who are sick then you have just ruined your market. So pharmaceutical companies are not incentivized to look for cures or remedies that really its rational these and you read a case there of them and found does exactly that it pays for performance it pays for the reduction in disease and so you win the jackpot if you manage to eradicate the disease because that way you have the greatest Health Impact so if we had Something Like the Health Impact fund from a sort of companies would be different the incentivized they would look for different innovations and they would also roll out their innovations brought me including the poor so that even to get rid of that is east and dont maintain the poor as a continuing breeding ground where new diseases and new disease strains ok im constantly evolve and then possibly invade even the rich countries and when we look at africa now the the the world bank is saying that it wont be possible to move the benchmarks of 2030 when it comes to the reduction of. Extreme poverty and because it was widely seen as the platform that could further boost the economy in the continent now were talking about severe cycles of drought instability of violence and disease in the continent its just projects an image of a cunt inveighs absolutely likely to suffer in the decades to come. So i would say that the progress that weve made in the past 25 years in terms of the number of people who have left the poverty brackets in terms of their fortune is that open dog for instance you know 10 of the Fastest Growing economies in the war 7 of which are in africa all of this the story of africa rising that century of africa this is the African Century all of those positive stories you know what weve seen recently is that with all of the there was a perfect storm of the cold be 1000 of Climate Change impacts like flawed and droughts you know and even disease you know. You know locusts infestation you know that came together particularly d. C. To kind of wipe out you know all of almost all of the program that have been made that the lock down almost all african countries look down doing this by demi and that its just you know you know reduced all the opportunities of growth that that was constantly being you know touted and so yeah the report basically indicates that with this Current Situation as it is right now it is really really you know difficult to meet the target of you know eradicate imposed by 2031 again we need to know that the resilience of the African People has always shown not the level of coordination from the African Union and the level of leadership of collectivism that have not been seen on the african continent has not been seen elsewhere in the world you know in terms of the way they react in the responding to could be ignited and this is what still gives all that in the nearest future we can get back on track to recovery and maybe the figures the nobel. Committee touted magnet if you look at the other picture you have those who are making a lot of money and you have those who are suffering now when you look at this particular picture one would ask the question which is very legitimate one could the unset of this problem be to reinvent the top Income Tax Base world wide or in another way impose aggressive taxes on the wealthiest of the world. You know its seems very easy that yes you can put a very big tax on the wealthy but the wealthy alone stupid. What we discovered in the in the. For the last British Election for the liberal party were preparing for its surface for over but if you were to remove a 1000 concession maint in the tax code for the rich not a good thing but just stop all the concessions to the rich have got them so written that would make a lot of difference what the rich dont review including the banks or find different made them do funny income to person up in a sense the dream to be had there are no progress from taxation is going to redistribute income because the income it is world it is staged it is also to other many rather defining income its easy to attack salary people but anyway he has chemical its give all right your grace so i think we have for example in the u. K. Im a im a house over my house and dont be taxed at its current price but its price and reserve board is from 15 years ago in the mean time the prices tripled but nobodys texting over those Capital Gains tax under Us Government and so i have no what we mean a real bargain parks the rich. We have to be really clear about it is not a symbol of dancing or you have a good tax rate up or down are by and large progressive taxation word until about 1900 b. C. And after that out people who already run 3 of escaping tax who are by equity. We need who are global thinking for a couple actually will be corporations. Amazon will want we need a global approach. And that is difficult to. Do your opinion but being. Ok we need to be part. Of other angles to cover Thomas Building assess for the working families and granting them access to low Cost Financial Services and Home Ownership is this possible when you have animal is the have been going on for decades in the liberal financial architecture that has been dominating the political landscape. Yes i think this is definitely possible b. Have technologies now that make finance highly accessible to individuals for example there is a very successful micro Insurance Program where you insure poor families against risks of for example a bad harvest par or Health Problems or 7 funeral or Something Like that and that saves them from sometimes catastrophic expenses that can put a family in poverty for years and decades so this kind of access to Financial MarketsFinancial Security is quite that he able also for example that you can transfer money directly to people cost free into their cell phones and they can then use the cell phone to pay for things this is one thing that now in the cult that pandemic is actually very very is built to be able to do to send people money direct to eat without any further credit intervention that they can immediately spend in their own area and thereby escape the dire need that comes from for example losing their their job their income their access to the market as Something Like that ok so i think its this is a very promising way forward edwin increasing minimum wage was one of the commissions of men who were including the world bank as a way forward to to improve the Living Standards of many millions people particularly in africa do you think that would still be possible against the backdrop of the economic financial problems and cove in 1000. The question is that how can you increase minimum wage when you dont even have money to pay digs in salaries those arent now that is a demand that is the reality that is what should happen but the fiscal liquidity situation off of african countries just makes it impossible and thats one of the reasons why it is something that weve been shouting for we need right fiscal interaction and again i just said o 2 to end that i please is socially vestment investment in social welfare programs might be one way you know to korb the difference of the gaps between the reach of the minute weve heard many many times about the social Development Goals as perhaps the best way to defeat inequality and poverty when it comes to that particular fish and where do you think we should start investing in education. You know im just thinking oh i know you are talking but you know were all groups of hearing people income or no or education we never think go green room and straight out right into you know a little brain think income we really ought to give people bonds or Something Like that in every every every poor family bureaus certainly dont ever want to just get its so many of our dollars worth of government bonds not only like that you know we have to your people and little bit i once was drawn to community more work yes really giving them i mean believing in move but. Not commute but eventually the route to good ridge because you already started rich broadwood because you have assets for her and were asked to be made at the mean with her. Will be hoping for an hour come in rich we can call shoes comparison some and give a degree i think to the poor but think of a line scheme like that ok i think me just. Begin to. Ask only poor people german unfortunately we have to leave it there but we would like to see a well oiled well the decision is swiftly made so that the trend is reversed a lot meghnad decide to musburger and edwin aquaria thank you very much indeed for your insight i really appreciate your presence i thank you to for watching you can see the program again it is any time by visiting our website c. N. N. Dot com for further discussion go to our Facebook Page thats facebook dot com forward slash a. J. Incised boy you can also join the conversation on twitter and there is a j inside story for me as my father and the whole team here in doha life in a. Temperatures are on the rise Global Warming is taking effect. As one of the worlds biggest emitters of Greenhouse Gases the u. S. Is set to withdraw from the Paris Climate Accord the day after the president ial election we care and we will deal with Climate Change get a new president reversed the decision in time and face up to the Climate Crisis for all of the new shoes of the u. S. Elections on aljazeera in the next episode of techno the team looks into the Environmental Impact of Waste Management trash is a big business and forth with a smelly bill goes to the complexities of recycling when these different plastics are blended together then recycling becomes difficult to impossible and the science that Office Solutions is very easy for us to have 100 percent recycled material techno on aljazeera. Stories of struggle stories of achievement. From opposite ends of europe contrasting personal stories of arab refugees seeking a new life abroad. Aljazeera world travels to australia and sweden meeting refugees and those who welcomed them. A place of refuge. And nichelle still on aljazeera. 0 we ask is the government not taking the necessary action to really address some of the structural issues we listen i still think that travel is the safest mode of travel and to spend that we meet with global news makers and talk about the stories that matter on the phone to 0 we understand the differences and similarities of cultures across the wound so no matter when you Cool Hand Luke with the news and Current Affairs that matter to you. 100 hours g. M. T. Here on aljazeera im Kemal Santa Maria and these are the headlines the World Health Organization has reported a record daily rise in global coronavirus cases with more than 330000 infections in 24 hours as well as 5 and a half 1000 deaths there are also warnings about rising cases across europe france report of 18024 hours the u. K. 17 and a half 1000 even germany the country which has successfully controlled much of the spread of the virus has seen a shop jump iran hospitals are running out of beds in there in tents