Tuesday and has failed to snuff members to agree on who should be the prime minister. A politician and a french aid worker kidnapped to mali have lands in the capital bamako after being released as part of a major Prisoner Exchange the deal was announced by the new Transitional Government on tuesday in the us is impose more sanctions on irans Banking Sector is the latest move to curb what washington describes as to hands Nuclear Ambitions and terror activities the measures blackness nearly all of irans financial sector. Has more from washington d. C. 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 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 the World Health Organization is reported to record daily rise in global coronavirus cases war than 338000 infections and 5 and a half 1000 deaths and there are warnings about rising cases across europe france reported 18024 hours whilst you k. Infections to 17 and a half 1000 and on the biggest owners and world let your child has been awarded to an american poet who is gluck has become the 16th woman to win the nobel prize for literature since it was launched more than a century ago focuses on childhood family life and the bond between siblings. Absent now with all the headlines more news announces era of to inside story that america is a meeting of wonder a growing tragedy and yet violent but it doesnt matter where you are you have to be in the can relate to the human condition. To give me a link. Because im like and its my job to shed light on how and why. Despite the pandemic billionaires have never been. That says millions are being pushed into extreme poverty with income inequality a widening other big bridge and could this dispositive fuel more public anger this is inside story. Well welcome to the program. The wealth of the worlds 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 are 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 a 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 cries this 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 the scale 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 but 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 what the world bank calls middle Income Countries such as brazil indonesia and south africa the bank has more than 160000000000 dollars 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 the 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 of this particularly somber 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 car returned demick is that it is really unique in the sense that both supply and demand and simultaneously got really good like your 400 supplies down factories and im doing fine people dont have power we give people practice power and forget 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 that makes people are employed and they cant work in unusual situations and government to coping with it in there were right to arrange they could go but mainly being 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 in turn production in turn up sales exact that so we have actually a good and usually economic alliances in rich governments are pouring out money somebody is getting the money well the money is probably not reaching the right path where the need is most 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 well where the best of the coming but chad where the poor 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 d 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 which were globalized in the trips agreement part of the founding documents that have e. P. O. And also within the domestic scene you see that the rules of for example the tech system rules of regulations 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 decisions than the poor can so we have in that kind of spiral downward spiral where the rich use their money to exert political influence which in turn. 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 performed 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. The people within their own circles so what youve seen 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 of 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 stack 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 back soko argentina and brazil where those countries 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 a political system thats where uncertainty is thought. You know i dont think political system so that is you can. Only hope you remember that iran was remarkable factors here is that now in developed countries in the rich countries its not markets who recovered faster than the economy has because in Central Banks are pouring money out and out that makes it easier for people to buy. Into what i think basically say if youre in 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 better Education System so i wouldnt rule them off police and while the world emits instruments connected with events with globalization and that hurts the rest of the people and wont governments 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 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 which was once a very very prosperous country and a liberal and the world did serve like argentina under the lived side by having bad politics. Better other countries like that i need to use here for example that south asia or 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 they had migrated to opt out and so it was money because 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 then i 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 other titians 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 there be 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 it sent 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 that they have them and find does exactly that it pays for performance it pays for the retraction 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 pharmaceutical companies would be differently 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 me the benchmarks of 2030 when it comes to the reduction of. 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 bracket in terms of the opportunity that open d dog for instance you know d 10 of the Fastest Growing economies in the war 7 of which are in africa all of this the story of the 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 could be 1000 off of Climate Change impacts like flawed and drought 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 lockdown 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 d constantly being you know touted and so yeah the report basically indicates that we dis Current Situation as it is right now it is really really you know difficult of meets the target of you know eradicating poverty 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 d 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 unsubtle 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 are what we discovered in the in the. For the last British Election where the liberal party were preparing for its surface for over but if you were to remove a 1000 concession made in the tax code for the rich not a good thing but just stop all the concessions to the rich have got them so direct and then that would make a lot of difference what the rich dont review including the banks or find different made them do funny incumbents persaud in a sense the dream to be had their all progressive taxation is going to redistribute income because the income in this world it is staged it is also to other many rather defining income its easy to attack salary people but anyway else can kill its cable right you raised 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 a price should reach our balls as it is from 15 years ago in the meantime the prices tripled but nobodys that single reduced Capital Gains tax under Us Government and so i have no so we mean a real government parks the rich. We have to be really clear about it is not a symbol of dancing on good tax rate up or down by and large progressive taxation worried until about 1900 b. C. And after that out people who already run 3 the risk of being types who buy equities. We need who are global thinking for. 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 finance or 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 code that pandemic is actually very very is to be able to do to send people money direct without any bird 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 commendations of many were the night vision 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 d digs in salaries those arent now so that is a demand that is the reality that is what should happen but a 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 but 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 me just thinking oh i know you are talking but you know we all groups of hearing people in cut or no or education we never think go during them 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 of once you start accumulating more work theres really giving them i mean believing instruments but. Hes got but eventually the roots goodridge because he already started rich broadly because you have assets more who own were assets the amiga i mean beurre. Will be hoping for in the come in rich we can call shoes comparison some i would give would be great i think to the poor but think of a line scream 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 aljazeera dot com for further discussion go to our Facebook Page thats facebook dot com for was last a. J. Inside story you can also join the conversation on twitter and there is at a. J. Inside story from me and the whole team here in doha life in a. When the news breaks and the racism protests continue in a number of cities across the United States when people need to be cut in the council area line nearly 500 times with a story about 80 percent of the slant does aljazeera has teams on the ground people are just talking about wind and solar as if thats going to solve the problem if want to bring you more room documentaries and life moves on and on line. The remote kingdom of the time has become known for its pursuit of happiness. One a one east explores how this National Goal is inspiring the Younger Generation on aljazeera. This underwater treasure is a risk of disappearing juice a coral bleaching caused by rising temperatures. The great. Strain the area d heritage its iconic and the Tourism Industry based we will lose it instantly if we have another bleaching event of these my. If this continues they just wont obey the opportunity for the curls to recover in between those. 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