Normalization. From aljazeera civil more good in sudans capital khartoum. Sudan has been quite weak the economy is completely devastated and crippled and that the us has taken advantage of the sudans economy to push through now the. Foreign minister says that its not a complete normalization that they will wait for a parliament to be formed before they complete the process of normalization that this is just a thought and how deep that normalization goes will be dependent on the parliament ethiopias Prime Minister has dismissed an apparent threat from President Trump about the construction of the rene saw he suggested that egypt might blow it up if the project continues if you happy as Prime Minister says he will continue dialogue with egypt and sudan. Theres been more fighting in the going because both armenia and azerbaijan accuse each other of shelling residential areas Foreign Ministers have met separately the u. S. Secretary of state mike pompei oh in washington the u. S. Has posted 84000 new corona virus infections an art installation in washington is highlighting the growing death toll guineas army is on the streets to quell demonstrations of the president of a conde won a controversial 3rd term Security Forces dispersed opposition protesters with tear gas by jury as president has acknowledged that many lives have been lost during 2 weeks of protests people continue to block major roads and set fires in lagos has been growing anger over Police Brutality in nigeria the 20000000. 00 people of lagos state but on the 24 hour curfew since tuesday theres the headlines bodies fear after counting the cost thanks to. These days its hard to filter out the noise and keep track of whats really important the bottom line tackles the big. United states its people its economy and the way it deals with the rest of the world the bottom line. Hello im sam is a than this is counting the cost on aljazeera your look at the world of business and economics this week what does a victory mean for china well tell you about among the 1000000000. 00 democratic plan to confront beijing is it too little too late why because president xi lays out his vision for a rival to Silicon Valley can beijing develop its own Semiconductor Industry plus doing business in africa in the midst of a pandemic from job cuts to rising debt our business is coping. Its rare to see cross Party Support for anything in washington but one thing is for certain republicans and democrats believe chinas president xi jinping is a threat to global stability but how would the relationship change under a biden presidency chinas neighbors hope there wont be what they regard as the bevel and of the Obama Administration biden has had a 2 decade relationship with china he hoped trade would transform the communist dictatorship he pushed for china to join the World Trade Organization which it did in 2001 between then and 2013 its estimated 3200000 jobs have been lost in the u. S. Though as its trade deficit grew with china. Thats been the crux of trumps rhetoric against the democrats blaming them for chinas unchecked economic rise or though the promise to bring back jobs has failed to materialize one trump struck up a personal relationship with she that didnt stop him from lobbing twitter bombs and tariffs at the country critics like his former advisor john bolton both say trumps approach is driven more by self interest he encouraged the building of reeducation camps to imprison we goes and told she had to deal with hong kong protesters how he liked but the administration believes theyre in the midst of a new cold war in september democrat senators announced a 350000000000. 00 plan to confront china the bill intends to strengthen the u. S. Medical supply chain support new technologies like 5 g. And counter chinas predatory economic behavior lets bring this all together within shepherdson now in is the founder and chief economist of pantheon macro economics an Economic Research firm located in newcastle in the u. K. Good to have you with us so is trumps view of china correct stealing jobs american jobs narrative. Well its a very narrow view of the relationship that the u. S. And china have had since china join the w. T. Oh because its certainly true that u. S. Manufacturing has taken a hit chinese manufacturers have gained huge inroads in the American Market theres no question about that but of course remember that American Consumers have gained enormously from the trade relationship because theyve had access to much cheaper consumer goods and would otherwise have been available the problem is theres a classic problem in economics is that the gainers have gained a small amount each through through Cheaper Products and the losers of lost a lot each because of lost their jobs so that means that you tend to hear about the people whove lost the most rather than those who have gained a little but of course there are hundreds of millions of americans whove gained relative to those whove lost their jobs so the real failure of policy i think has not been the trade relationship of itself its been the way the politicians have dealt with it they havent provided sufficient support to people in manufacturing and to Manufacturing Companies who they they must have known would be dislocated by the expansion of chokers trying to and those people are being effectively left on their own and theyre angry and theyre hurt and they have undoubtedly lost out on the other in of a journey in there about in the other side will we talk about jobs being lost in the Manufacturing Base in the u. S. Taking here isnt it also true that it was in fact american elites who move jobs to china where labor costs are cheaper right so blaming china even in terms of manufacturing jobs is now a little bit of an oversimplification here im not blaming china and saying is it was a natural consequence of opening chinas economy and opening the u. S. Open to china through the w. T. Oh it was inevitable consequence of businesses would move their activities to where labor was much cheaper and that of course was china where previously they hadnt been able to do that on such a great scale so it was an inevitable consequence but they didnt tell the American People about that in advance or they would never support the deal chinas the real problem is china of course which the other thing the trump has talked about a lot is the theft of u. S. Intellectual property which has been outrageous and for. Forcing u. S. Business isnt a joint venture which they didnt want those sort of things have been going on on a grand scale and its not just American Technology that china stole and syrup in and other countries as well and that i think its been right of trying to highlight that as one of the few things hes got right an Economic Policy that it has to stop so its not simply just the loss of manufacturing jobs is that its other things that china has done as well have all sort of generated this this anti China Sentiment in the u. S. I didnt mean that you are blaming china but trump is obviously do you think there are 350000000000. 00 democrat plan will do anything to counter chinas lead in 5 g. An Artificial Intelligence d saw even drug supply chains well up the margin maybe i mean of course in a preelection platforms from president ial candidates arent necessarily what becomes an acted after the election because we have to get through the whole political legislative process and its all very well for president s to say theyre going to wave a magic wand and do great things but obviously reality can intrude in the form of congress so its far from clear the President Biden if hes elected would be able to do all these things if he were to do it then yeah it would make a difference one of the things that china has done is is used state resources to build up the 5 g. Technology the Green Energy Technology the pharmaceutical Production Technology all of these things have been supported by state resources now its not the us way to do that on such a grand scale but in the past of course it has been the u. S. Way for the federal government to spend on things Like Research and development which has been hugely important the defense and aerospace and other industries so its not like the u. S. Is only a free market economy the government never gets involved but over the last few years a government has taken a step back and the travel ministrations has effectively drifted on this sort of policy so it would be a change of the margin and probably it would be a change for the better but theres a long way to go so given what youve said about the sort of reality check to magic ones what do you think realistically one can expect from a biden presidency. Well a return to some sort of normality i think from from the perspective of the west of the world a shift back to something america that they recognize which is not retreating into itself and which is taking a more global view which i think will be very welcome for some of chinas neighbors for example who are feeling very threatened by chinas activities in the in the South China Sea. And in terms of Economic Policy will see i think a more aggressive approach to dealing with the coronavirus and well see a reversal of some of trumps tax cuts as well and well probably see a reset or an attempt to reset the trade relationship with china which probably will involve some sort of pause in the tariffs or maybe even a reversal of the tariffs and an attempt to negotiate from a position of of clarity and understanding so that both sides know what the other side actually is trying to do so but not a lot of work to do on a whole lot of fronts thats for sure but i do think in terms of the relationship with china there will be an Economic Research but maybe not a geo political reset because the world has changed over the last few years and china has become a lot more adventurous and aggressive both externally and internally and the u. S. I think us to recognize that that segues nicely into my next question when you look at where china stands today because of the whats happening in taiwan the South China Sea its technological lead is it too late for the west to challenge or try and contain china. Well depends how you define containment i in nobody wants a shooting war specially the chinese would be my guess but theyve theyve been given an inch and theyve taken any odd because the us a step back from its Global Leadership role it hasnt pushed back hard against chinas actions in hong kong or the way theyve been treating the weak people internally it hasnt supported taiwan as aggressively as it would have done under previous administrations and its done really nothing to check chinas military adventures in the South China Sea which is unnerved their neighbors so a shift back in u. S. Policy to a more full throated defense of the states around try. And on a more a greater willingness i think to call china out for its behavior internally i think would be a huge change that the chinese have taken american silencers as a reason just to push a bit harder to see how far they can go and the answer is i can go quite a long way and strong because as we know hes hes very fond of dictators and autocrats and so he doesnt do anything about it but i think a vice presidency would be different the certainly the u. S. Foreign policy establishment if you like outside troops in a circle who are now running the show but the the the cia and the intelligence agencies i think a very along toward china has been doing and would welcome a shift to a more muscular approach from a new administration that see what happens in november then thanks so much in the shepherdson. President shes been rallying chinas tech evangelist to create a hub that rivals tokyo bay and Silicon Valley its more than just a rebranding exercise chinas greater bay area is already home to some of the countrys Biggest Tech Companies their only problem is chinas leadership in 5 g. Technology and possibly Artificial Intelligence which is being built on the back of chips from the United States south korea and taiwan washington is could tailing chinas access to technology through sanctions on Companies Like weiwei and he keep vision chips are critical to a whole host of industries in 2019 china imported chips worth 305000000000. 00. In the middle of this clash is taiwan its been hoping to cash in on chip sales to china beijing also has a claim on the territory taiwans ts mc is one of the biggest chip manufacturers to while away an apple or its already said it wont sell chips to china shes push for Technology Independence will see china build 70 percent of the chips it uses by 2025 thats up from 40 percent this year still chinas chip industry has a lot of ground to make up and could be at least 10 years behind western technology lets bring in our regular tech guru from new york daniel ives is the managing director of Equity Research with Wedbush Securities joins us via skype good to have you with us so theres a concern that whenever china chooses a corporate champion its difficult to see where the state begins and ends right but getting its a slippery slope because right now its centrally a core tech war between us and china. Are reading this isnt me a big dynamic there are over the next year which can have been bookish and poor boy and i think right now its a big focus for a messrs. And china plans to spend billions when it comes to getting through tax cuts and subsidies to try and speed up its semi conducted design and manufacture a base how far is china when it comes to that sector how far behind i should say near right now its an arms routes when it comes to semis as well as overall inside she and i think really what youre seeing over the next few years youre going to see significant investments you know upwards of 2 to 3 x. In china because theres of the coupling going on across tac not just in samis in harder but also software and i think this is something that were going to see play out and theres me clear winners and losers but right now i mean there is sort of full steam ahead and thats something thats a shot across the bow especially to traditional Tech Companies in the u. S. Situations a bit different we talk about 5 g. An Artificial Intelligence how far behind is the u. S. I did today will call it 18 months and i think that would you may be conservative in terms of 5 g. You look where 5 g. Is terms of china well ahead d and i think its peaks to really what youve seen with the way in even the Broadcom Qualcomm tend to merger from 2 years ago that got put on ice i think this is something when it comes to 5 in my opinion covering tech 20 plus years most Transformational Technology that ive ever seen right now china clearly leads that raised youre going to see the u. S. Try to narrow the gap thats going to be the issue over the coming call it 6 to 12 months as is race for 5 g. Where we say perhaps in the u. S. That the state will need to step in more and then when it comes to 5 g. In the u. S. Were going to have to see significant investment youre seeing it from a carrier perspective the brides in the t. And t. The apple Just Launched an i phone 12 in terms of 5 g. But this is something internal really take the course of 2021 to fully. Random times not on the side which i think you can to see more more consolidation in the u. S. Around inside g. E. And you can def have seized more government infrastructure around 5 especially with chinas doing on the superhighway so then if you look at the bottom line then weve got quite a lot of state involvement when it comes to the chinese side perhaps were going to see increasing state involvement on the u. S. Side when it comes to other sectors like 5 g. An ai is the free market system failing them but then thats an interesting question i mean when you say mass 5 g. You know especially with chinas done right now its such an arms race that youre starting to see more and more involvement from the government side of course weve seen that in china i think over the course of the next 2 to 3 years youll start to see clear on the private side winners and losers but for right now to really get the jump start you need to see more government infrastructure because this really comes down to next call it 2 to 3 years youre going to have that window that opens up and naturally the opportunity not just in the u. S. And china but across europe middle east and you know other sort of packets of geographic strength has received 5 g. Takeoffs and for countries like taiwan they call it in the middle of all this right were going to have to get up some of the biggest customers at least when it comes to the chip maker. And see. Yeah theyre caught in the crossfire its an all western standoffs and i think thats where youre seeing quali and others caught between u. S. And china its a gup on just special what weve seen happen in the us for them but i think it just speaks to in this cold war between us and china you know when many components within taiwan are caught in the middle i think it speaks to the overall supply chain in terms of where taiwan fits i mean thats going to be a big question mark going into next year im going to ask you about google so if you think of the governments case against it i think its a 1st shot across the bow as youre going up on the d. O. J. To to google i mean to see this bell wavers big tech battle continue to manifest i think a lot of it depends on if you see a blue wave from an election perspective that could give more you know caught antitrust momentum i think right now its all about law changes in legislation but no doubt i think this is the does it contain risk by the has to 1st step in which can be a multiyear battle d against big tech with google front center its going to be interesting thats for sure thanks so much for your analysis i think its back to on this. Now african countries have reported more than 1000000 coronavirus cases and some 23000 deaths the Health Crisis is forcing countries to choose between servicing their debts or spending on Health Services thats according to the i. M. F. While african nations have stepped up funding they need more help from rich nations and private lenders i. M. F. Managing director Chris Telenor Georgieva says african states still need 1. 00 trillion dollars in financing through 2023 but theres a shortfall of 345000000000 the pandemic coupled with a collapse in Commodity Prices and the plague of locusts have hit the african economies particularly hard putting 43000000 more people at risk of extreme poverty according to world bank estimates. Millions of jobs have been lost to the pandemic so how are businesses coping against this backdrop joining me now via skype from paris is a may have been the ahmed i mean it is the president and founder of the africa c. F. O. Forum good to have you with us so youve had the council this is africa c. E. O. Forum is enough being done to support business isnt jobs. Are Glass Half Full half empty kind of situation a bit it clearly shows that there is a long journey for governments to. Build stronger economies a more resilient more ordinated if you look at what has been done. Little scared by a world economies there was about 10 trillions invested in Financial Support in western europe before trillions of own these has been done through a better state of measurers stated stay back to ringback loans so should the suspension of taxes. Financial support for independent in all of these basically has. About 15 to 30 percent of g. D. P. Germany has a investors 30 percent of its g. D. P. Growth in response and i think you look at this situation in africa its much different most ambitious racial i mean probably south africa have an 8 percent. G. D. P. Some of the largest economy have reacted and vicious and they have reacted swiftly morro south africa have talked about it various plans the. Billions of 1. 30 i think will 20 or so africa are they have met the same kind of measure its about their fixie much different challenges 1st of all the pros. Of course less the way spanish and the way we intervene center banks dont really money every. 2 words to play with. Theres also a rising death question earlier about britain countries that have. I mentioned the margin of intervention much less important but i think one of the most urban problems. A level of sector really most of now are going to companies and the situation makes government interventions very complicated and it has unfortunately a very dark and back on. The state of actors of the economies in the subpoena of millions of people in business right the government interventions as you rightly stated there are very complicated when you look at organizations like the i. M. F. They calling now in the private sector to step in and try to help with the funding shortfall but is that an easy proposition to make to the private sector when you look at countries like zambia which are facing the possibility of a default on that. Yes thats true but to. Assemble also who are to a country set up especially stressed a situation you have probably 6 or 7 countries in africa that are in a safe situation but if you look at thats the whole of more d than 30 countries have not lived through that at least Suspension Initiative so. The situation is not as bad as it looks. Any you or so look at the recent trends within the last 10 years a lot of countries have been able to go on the markets and attract private investments and the dow has issued a 10 year or. 4 client court order for 25 percent with Great Success but in order to do so they need to be very careful in their relationship with investor they need to fight back submission they need to grow their past base and they need to formalize the Informal Sector are uk talking about previously so has anything then given what you said has anything changed in terms of africas attractiveness to private equity because before the pandemic it looked like private equity was turning its attention to the continent. Thats true yes definitely again how he would have had the situation if you look at the figures of you want to see your. Baby you have the same boat im a transaction around 80 but here you go d the who value of the transaction have decreed gone and im greatly interested and it is 1st semester so its a collective percent decreased and also when you look at the amount of money raised. We. Want to point 7000000000 last year to. Plan b. And this year sort. Of decreased but. There are some very. Future 1st of all when you look at the breakdown of this investment you see that theres a clearing the. Road to investing in the sectors of a future the health care and as usual a Financial Sector and i dont want to have seen last week there was a very big acquisition by a us Company Strike they wired for 200000000. 00 space back in nigeria and company so definitely we left generate some revenue that that. I think distracting in the coming months so how business is then coping and till those coming months. Pick up as we have. Basically we as you know i dont know if you are this we are conducting a c. E. O. For every year a partner or a survey we are the light we are surveying 200 of the most Important Companies in africa to try to understand their. Expectations from a profit but he sees their trust in the economy their business great iraqis and of course this year 95 percent of. The players themselves back about her Current Situation but they offer strong faith in the recovery of the economy about 60 percent of them being that the economy will recover in 2021 and more importantly we are seeing a rising percentage of the us that have a strong. If the long term future and. Are very close last year or 73 percent now it is 80 percent so. Resilience is definitely has been fascinating talking to you thanks so much thank you and thats our show for this week but remember you can get in touch with us via twitter use the hash tag a. J. C. The see when you do or drop us an email counting the cost of aljazeera done that is our address theres more for you on line of aljazeera adult column slash c. T. C. That will take you straight to our page which has an entire episode for you to catch up on. Thats it for this edition of counting the cost im sam is a than from the whole team here thanks for joining us the news on aljazeera is next. Examining the impact of todays headlines the escape from guns just a mistake but we dont feel safe with you setting the agenda for tomorrows discussions my blackberry my whole as is my whole being out there weaponized International Film makers and world class journalists tell us how and why the textile and fashion industry is a major voice of polluters bring programs to inform and inspire news. On aljazeera. Trust is fundamental to all our relationships we trust banks without money talk to us without really personal details not what happens to trust in a world driven by algorithms as more want to stations are made for us by these complex piece of courage the question that comes up is inevitable can we trust algorithms in the 1st of a 5 part series ali ray questions the neutrality of digital deductions trust me im an algorithm on a jersey 0. 20. And. Frank assessments if American PublicOpinion Pieces betrayed by social media platforms after november what would be good because as if you believe that there corrosive to our democracy one obvious solution is to break from an informed opinion just look at his dont go any way the protesters arent going anywhere either its ability to get a revolution people all call indepth analysis of the days global headlines who is it thats really out there on the street inside story on aljazeera. This is aljazeera. Hello im rob matheson and this is the news our live from doha coming up in the next 60 minutes donald trump announces a u. S. Brokered deal for sudan and israel to normalize relations palestinians say its another stab in the back the u. S. President also speaks out against ethiopias grandeur nacelles down in defense of egypt which fears it could affect its water levels. Youre just not going to be able to live that way