At some of the factors that are pointing to that direction, and then israels sige uh both on the gaza strip and in the opt occupied palestinan territories, well the israeli sestroyed gazas economy, it has impacted the palestinians in the opt, and also it has prevented palestinian advancements. The surprise attack by palestinian fighters against israel, which began on october the 7th, has incurred irreparable damage not only to israels security, but also its economy. According to initial estimates, the war between resistance fighters and israel has of already cost the regime 6. 8 billion dollars. There are estimates that the cost of the current war will amount to at least 1. 5 of its gdp. Which means an increase in the budget deficit. Since the beginning of the war, local stocks and bonds have fallen and many businesses and schools remain closed, while airlines have stopped most flights to tel aviv. Israels central bank has said that it will sell up to 30 billion dollars in Foreign Exchange to prop up the sheckle and to prevent its collapse. Economists in israel now believe with 300,000 Army Reservists mobilized, higher spending and sectors like tourism will be hit hard, slowdown that cannot be avoided, but of course the extent of the damage to the economy will depend on how things unfold and how long this war uh will be and how broad it will be, so we will see definitely very sharp decline in some sectors, first of all tourism, private. Consumption investment and some of these effects are prolonged. Time not to find out of whats posted on this uh war. Lots of posts that we picked out some in order to give you uh some kind of a balanced view on this uh we went to a website that was titled already humanitarian crisis war with hamas could have major impact on israels economy. Went to say more than 300,000 ordinary israel workers are now out of the economy and in the fight as they have called it in the century. The amount of the economic damage, however will depend on how long the reservists are away from their jobs. Next, israels stocks and bond markets sink, businesses are shut after hermas attack. Uh, checkle has tumbled to sear of 3. 87 against the dollar and stocks have also fallen as the exfinance minister liberman has blasted Netanyahu Smotrich and connect finance panel chair for ignoring wornings of economic downturn, which was happening before this were erupted. Then this website said gaza economy struggles under his really bloccade, approximately 3000 workers are unemployed with 80 of factories closed since the beginning of the bloccade. And finally, this particular traveler said, im basically stuck in israel, Flight Cancellations and sky high ticket prices have stranded many people seeking to leave. You can see the situation there then in israel. Is pretty dire. Let me introduce our guests for our first q a. Uh, joining us is um altaf hussen, an international lawyer, author and politician, hes the ceo at addison aron who joins us. Alt hussein, welcome to economic divide. The gaza strip under seas for 17 years, illegal by all means an economy basically that was shattered because of it. You also have the situation of the opt occupied palestinian territories with the economy there for palestinians suppressed, taking away any hopes of economic advanced. Um, they werent given the chance, when you really take a look at this, isnt this war all about the fact that the palestinians were not given a chance to advance economically, and particular the ones in the gaza strip whose economy was was shattered by the Israeli Regime . Yes of course, so if your home is not in order and you go out to steal uh, steal somebody elses sustenance, then of course thats going to have a you, detrimental impact on on your economy, now you know the Israeli Government has ordered for the palestinians to evacuate, if we now look at the figures and the research etc. We can see its not only palestinians who perhaps will be leaving for their safety, but its the israelis that are also leaving their masses, um, i think a lot of israelis were were happy to be in israel and live, perhaps peacefully and in harmony with the palestinians, but due to the heavyhandedness the government, etc. Lot of israelis themselves have lost faith and to be part of this uh apethide system and this destruction and this civil unrest in the middle least all right thank you for that uh again just to no we dont really recognize this really um entity we realize we dont realize them having recognize them as having a government um in case our guests say that uh we had to make sure that uh our editorial line here at uh this program uh economic divide is followed all right next up uh uh let me see who we have, chris emms joins us. Chris emms is a cryptocurrency entrepreneur, he has worked tirelessly to combat us germany uh of the Global Financial system and hes also a political contributor uh to different media channels. Chris, welcome to economic divide, taking a look at uh the the war itself, many are saying uh, its uh due to which is true due to the oppression that has taken place against the palestinians decades of it is, the violations of palestinians in terms of the human rights at. Aspect, but the economic side of things are not covered as much, which should be, which could be a driving force behind, for example why palestinians in the ghaza strip uh finally rose up, it was a pressure cooker, uh, what do you think, do you think that this war was economically driven in terms of the suffering of the palestinians . Yeah, i mean its a really great question that you ask, i think if we if we take this question into a few chunks, its quite an important one, i think its probably the most crucial question that we should be asking now when it comes to the economics of both palestinians. Both israel and the region in general, the the issue i think is weve got one side of this, weve got the israelis that have have clearly uh not followed uh obligations in in order in in terms of how to find a peaceful resolution with the palestinian people, particularly the people in the ghaza strip, i think the west bank is separate issue, but the biggest problem i think is also regional partners in the area, countries like dubai, countries like saudi, countries like bahrain, all these countries that have been. Looking at to to create peace with israel have not really transposed that agreement that they have made with the israeli states to the palestinian people, they havent gone in and and said look, if we make a if we make deal with israel which uh you know in my view is is one way in which maybe we can find a solution to this crisis, they also have to start not just benefiting economically from trade with israel, but benefiting economically from trade with palestine, particularly with the ghaza strip, investing their own money in creating. Commerce, business, infrastructure, so that the people of gaza, the people of palestine can have a thriving economy that is based on uh, you know, all the things that they preach and what theyve done for their own country, they have not done the same thing, and neither has saudi arabia, neither has qatar, neither has bakuin, neither have any of these countries, they havent gone and practice what they preached and do the same for the palestinian people. Its time now for the informa section of the program. First up uh look at the Global Economy in terms of uh what we picked and we zoomed in on inflation. The imf has issued new uh forecast where it has said theres going to be negative global inflation thats going to be happening. Consumer prices it added across the world are expected to rise by 5. 8 next year. Next year sounds like a long time but thats actually in just few months and by the way theres another global forecast. That we are covering in this program, join us uh for the mahtis quick take section, well be covering that there. Now we zoom in to the us, the spending power of americans does not look good based on bloomberg who has said americans are losing their spending power, it went to say the share of households uh is facing drop in their incomes uh which rose from 10. 7 in august to now 11. 8 . Not good news for the americans there. Uh result of inflation, im sure or for it to partly have to do with that. We figured uh this particular uh entry coming up uh and it has to deal with the nobel prize was worthy of mentioning economy. Miss claudia golden has won the nobel prize for work uh that was focused on gender gap. Now her Research Showed Women are paid less than men average despite having Higher Education levels. Now thats not a very uh explicit or detailed but uh of course you have to read as to what her findings were, but it just shows uh something that uh is prevalent in terms of woman and that is the respect that they need to deserve or they need to be paid when it comes to their pay. And finally. Taking a look at the riches of the sahel region, our final entry, paradox of uh africa sahel is the entry that we picked where it said rich in minerals, but in the grip of grinding poverty. Experts say that bad leadership, corruption and geopolitics are responsible for misery faced by millions in the sahel region. Our take on that, well lets take a look at the which country they may be talking about. Mali, africas Third Largest gold producer 800 tons of gold uh deposits. Niger, the Worlds Largest supplier of uranium, guinness. Several natural resources, including boxite, iron or, gold and diamonds. Need i say more, well why dont you tell us what you think, send us your comments, Contact Information is coming up. The zionist enemy decided to conduct a ground operation in gaza under. Us protection, but is still hesitant implement it as the resistance awaits him underground and above it. The existing coordination between the forces of the access of resistance witnessed an expansion in the activities of Popular Support for the resistance in palestine, and that seems to have become an upward path accompanied by increase in the level of Field Support for gaza from inside and outside the historic palestinian map. A 10th base, koniko base, ain asad base and alharir base were all under iraqi and. Syrian resistance fire, while yemeni Ballistic Missiles aimed at the Israeli Occupation were intercepted by the us navy this time. West asia headed for total war this week on the mediast stream. Section of the program, the economy of israel, like the occupation has been crumbling for a while. Operation allo flood has not speed. Up that process, the socalled judicial reforms in the war were like a one2 punch which is knocked out israel. Lets look at some examples as to why we think so. First up, the cost of the war between israel and uh gaza estimated to be at least what we see here uh in a second, youll see the total amount, 6. 8 billion dollars, is that what it is . Thats what we have based on the situation now. Now one of the major reasons is the fact that israel has called up 300, reservis when call up that many reservists, you have to provide them with uh things that they need. Housing is one of them uh, never mind some of them which live inside of the occupy territories uh going to be taking out the economy, so 6. 8 billion dollars as of the recording of this program. All right, next up, lets see what the is really central bank is uh going to have to do or has done at this point, it had to sell its Foreign Exchange reserves and take out 30 billion dollars in order to prop up the checkhol. The unit of money for israel uh and its not just popping it up, it had to prevent it from uh collapsing, and thats something thats very unprecedented for israel, so at this point 30 billion dollars taken out of the Foreign Exchange reserves in order to prop up the checkle. Next, the cost of the war uh and its impact on the gdp, what were looking at at this point when it comes to that, 1. 5 as youre about to see, that is the impact that its going to have, which also means that there will be increase in the budget. Sit of roughly around the same uh percentage, 1. 5 for the coming year, so thats a huge chunk out of a gdp of any country, and therefore israel is uh experiencing that. Now we go to uh the whole operation that took place and its impact, see you have map here of the gaza strip, these are all the different uh towns and settlements that exist, to the right of uh palestine or to your left. Now here is where the operation alacsa flood began okay and uh right now based on the counts we have the fighters made it from the gaza strip into uh this border area which really shouldnt exist because this is all palestine but uh these all these settlements here have been affected uh by that now why is that important because when you take a look at the amount of output that the setlements and towns have youre looking at 18 uh of the total output in terms of the manufacture. Uh whether its businesses or manufacturing or factories 18 and area like birshiva which uh based on the map is roughly down here the birshiva area okay. That cumulatively has about 25 of the output of uh israels economy. When you have that many uh incursions to have been made, you can see that thats going to affect the settlements and the productivity that comes out of the settlements. Okay, so we can see how a big head israel has experienced uh based on the incursion that has taken place, of which thats a continuing factor. Now lets move to the tech sector. Taking a look at the tech sector plays major role, uh, we are looking at jobs uh 14 of israels economy, israels gdp, 20 it affects it, 525 billion dollars in terms of the total sales, but you have the falling investment that has occurred previous, seven quarters in the year 2022, 14. 7 billion dollars for the year 2023, only 5. 6 billion dollars in terms the investment, so you can see that theres a actual flight uh outgoing, no investments as the way used to be uh thats being made in this sector. And in the beginning we mentioned uh that accounts for uh the are estimates anywhere between 18 to 25 of israels economy is based on this tech sector so thats a lot and that you know when you have that kind of flight uh out of israel its going to impact the economy quite a bit. Now these are developing uh as as the conflict drags on and the war drags on of the total impact that this going to have uh lets bring in back our gass and see what they think chris uh rejoins us, chris emms is a cryptocurrency entrepreneur. Chris emms, welcome back economic divide. Uh, lets look at the cost of the war uh between israel and hamas, which is estimated to be about 6. 8 billion dollars. As of now, the economy was not doing that well because of the protest prior to the war. How badly is this war going to impact the israeli economy, especially given the that we dont know when its going to end. Yeah, thats a great question, i think. Uh what youre leading to is correct, i think the israeli economy will have a significant hit just because the market uncertainty around israel based in where it is in the region and what its economy relies on, however i wouldnt be too uh quick to jump that the israeli economy will collapse because unfortunately and for me this is the biggest, well theres so many not just the loss of life on on both sides, but the biggest uh calamity here is the fact that the United States will now be able to exert even more. Pressure on the israeli state, which essentially the United States will, as theyve always done with israel, bail out the israeli economy at times of war, and what that will do for the entire region is cause the United States to come back in really in that role, which in some ways during the the sort of dayton period that israel has had with some other middle eastern states, i think thats totally gone now, and were going to see a more aggressive israel following more aggressive United States foreign policy. Okay, thank you very much for. That again a quick reminder here, we dont recognize israel um as a state or um anything, we recognize it as a regime or an entity. All right, uh, lets bring back our next guest who joins us, lets see what he thinks, we have altaf hussein, international lawyer, author and politician, rejoining us. In, welcome back, so uh, where can i start with you . You have massive capital fly from israel, it was happening before the war broke out, the shekel is losing its value, um, the tech sector, we just. Covered, um, its investment has fallen, and uh, you have mass exetters of people top of that, and higher Government Spending as a result of whats happening, uh, and then you have like tourism, one of the sectors thats hit hard uh for israel, this sounds like economy thats going down fast and going bankrupts, how do you see it . I think tourism is falling, tourism, israeli tourism uh, it was sort of f flourishing at one point. But now tourism is falling, you now people are concerned about the safety uh, not only in israel, in gaza, but around the world, so with this war escalating and the disproportionate action that israel is taking against the people of palestine, i think a lot of people are losing faith and trust in israel, so that itself will impact is Tourism Industry and similarly in terms of investments you people want to invest, people want to make ethical investments, so if it appears to them that israel is obviously been disproportionate, heavy handed and it has been for decades and this realization and this awakening around the world will definitely impact investors investing into whether israel the Israeli Tech Companies or whether they some sort of other products etc. Is creation, the Israeli Regime has prevented from having a viable government and sustainable economy. The siege on the gaza strip has literally destroyed the enclaves economy and deprived this people of having prosperity. According to estimates by the International Monetary fund, some 2. 3 Million People lived in the narrow coastal strip where a per capita income is around a quarter the level in the Israeli Occupied west bank and where over half the population lives below the poverty line for any stable longterm economic recovery in gaza, the lifting of the bloccade and easing of the israeli imposed. Restrictions are essential, 77 of households there receive aid, mainly cash or food. The official Unemployment Rate in gaza is over 46 , and the basic infrastructure in the coastal enclave has already crumbled, even prior to the start of the current war, none of the damage from previous israeli wars had been repaired. And it seems that damage in gaza in this war will be far greater than what was sean in previous rounds of violence. Its a dire situation in in the gaza strip that were were seeing evolve with with food and and water being in in limited supply and and quickly running out. Wfp is on the ground and is responding and were providing food to thousands of people that have sought shelter in in schools and and elsewhere across the the territory uh but its were going to run out very soon, welcome to another episode of the quick take on mattiapolisan, the israeli war against the gaza strip requires looking at the economies the parties involved, and then the impact that this war will have on the World Economy as the war escalates and continues, first, look at the illegal israeli sige on the gaza strip and its economic impact. Israeli occupation cost gaza 16. 7 billion in the past decade. This figure goes to the year 2020, if 2021 to 2023, the time ispan is taken into account, that figure would rise to 21. 71 billion dollars. Meanwhile, the palestinians economy in the occupied territories of the west bank are also suffering from a difficult. Kind of siege albait, not as severe, but yet costly, things like restriction of freedom of movement, low wages, and unemployment plague that palestinians are struggling with. 90 of palestine is under exclusive israeli control, while there is 10 limited palestinian control. Israel also controls all of palestinian natural resources. The amount of control are outline here, but it is nothing short of israeli control. Controlling of all the economic function and activity of palestinians which all lead to the lack of True Economic Development and the paris protocol signed in 1994 formalized israeli advantage over palestinians. 85 of exports absorbed by israel, 70 of imports from israel, israel controls import taxes and the power to withhold those funds and israel placing severe restrictions for palestinian products. To compete with israeli ones, and finally, there is heavier tool that can take place as a result of this war, and that is the tool on the Global Economy, which will impact all countries across the world. Wider war in west asia could tip the World Economy into recession, the hamos operation, alaxafload and israels response are taking a heavy human tool and a Global Economic downturn may follow. That does it for this quick take section. Please send us your comments and questions. Contact info is on your screens now. Im mattia posian and ill see you next week. 100 children have been killed as a result of this war and as of the recording of this program. October 16th 2023. Max exodus of israel is taking place and given the evacuation of the settlements and towns on the fake border. Gaza, theres no telling when the situation will come under control, let alone for Economic Activity to pick up. Would you do business with the regime thats been called a child killer, what is for certain there will be no return to the status quo. That does it for this edition of the program. Thank you so much for being with us, send us your comments and tell us what you think about how we covered this economic perspective. Contact information is behind me. For me and the team, its goodbye until the next economic divide. بس يا امجودي بس بس بس بس انا we have a full understanding of how the people of palestine have taken up this issue. If we all work together, palestine will be free. People getting together for to protest the ongoing genocide on the gaza strip and on occupied palestine as a whole. This is intolerable and cannot continue. Top stories here on press tv, the un says the humanitarian situation in the blockaded gazos trip is teatering on the verge of catastrophe as death tool from israeli strikes is approaching 6,000. Hamal stages a massive rocket attack targeting tel aviv and several other israeli cities in retaliation. For regimes bombardment of the besieg gaza strip and iran strongly denounces israel for killing journalists in the gazo strip. 19 journalists have been killed in recent israeli attacks on the besieged enclave