Up a fifth of the world gdp, and theyre working together. Theyre launching their own development and Rainy Day Fund. Its a major shift in the westernled status quo. They say theyll be responsive to the needs of developing economies but can they overcome their stark differences to Work Together and what does it mean for the United States and their sometimes confine shoes relationships with thes contentious elationships with these nation nations. The historic dimension of our summit can be demonstrated by the importance of the agreements we sign. Head quartered in shanghai, they have a commitment of 100 billion. And its capital will be divided among the five members the first president will be from india. The board of directors will be led by brazil and the africa region Lending Branch will be based in south africa. The bricks bank will be one of the biggest financial agencies in the world. Bricks nations see their bank as counter to what they view as westerndominated financial order and a means to provide security investment and growth resources to themselves and other emerging nations. The countries have long argued for more of a say in the global system. They chafed a the way had a lenders at the world bank and International Monetary fund or imf put restrictions on the countries they help. After feeling they have not been heard bricks say its time for change. Well put pressure for reform. Unless they reform and takes bricks nations into account more, i think this constitutio institution will be more dominant in the bricks countries. Reporter the world bank acts as a world provider for developing countries. Its twin goals is to end poverty and promote prosperity. Established after world war ii the imf said its fundamental mission is to insure stability in the global system. It lends to countries with pavement difficulties, but imf loans are not free money and their help comes with strings. Take ukraine. The Agency Approved a 17 billion package in april, but on the condition that the kiev government follow strict Economic Reforms like raising taxes and energy prices. Bricks advocates say they will be different, but some economists are skeptical of its ability to compete in an already established arena. They are not ready. They are risking a lot. Theyre risking the progress they have in the last ten years for a project that will not render the benefits they think they will have. The bank is looking to provide loans for infrastructure and Development Projects building up other emerging economies. Officials say it could be two years before it starts lending. And theres the possibility that other countries such as turkey, mexico, and indonesia could join later. We should push forward with our cooperation and establish the contingency reserve arrangement as soon as possible. 42 of the worlds population live in the bricks nations today making up 20 of the worlds gd p it gdp. Its a major moment. They all have huge economic potential. At the same time bricks nations have unique and varying interests that are often at odds with washington. A new player in the global aid scene, what impact will it have and dna issues spurred its creation and where does it put its efforts o on the world stage . Here to talk about it from our washington studios our guests. Professor, well start with you. Why are these countries striking out on their own . Well, for a long time these countries have deserved a greater voice at the imf in the world bank. Those institutions claim to give voter rights according to the presence of the size of the economy in the world. China is currently ranked sixth in voting strength at the imf. But we know that its economic presence in the world ranks second and soon may surpass the size of the United States. Its been a long time that we should reform the votes at the imf and the world bank, and these countries didnt get what they were supposed to a long time ago. And take us back into the history. How has this not reached adequacy from these countries. We received assurances from christine la guard as she was ankling to become head of the imf for these emerging economies, how have we gotten here . Its taken a long time for the shares and the seats and the counts that would be give out. Primarily the European Countries have been reluctant to do so. But most recently it has been the United States congress that has not approved of the reform that were agreed in 2010. This is a direct protest against the United States rather than the european. How do you see theocracy of the world bank and imf with what bricks is doing . The new development bank, as they call it, its pretty much a parallel to the world bank. But we also have four Regional Development banks and the China Development bank far has given. In this area there are lots of banks, and its nice to have one more. Its not dramatic. While there arrangement is not really a competitor. Its supposed to be 1 billion. You dont know how they can be available. You dont know how it can be activated. And the u. S. On its own put up hundred billion dollars in credit swaps to western countries, not for the bricks countries. You cant say that this is comparatively small by that comparison, its nothing what the imf does in its programs. Lets bring you in on the conversation, what do you see as the major motivation for these countries striking out on their own and forming a world bank, a lending agency, and also an imf, sort of a protective Rainy Day Fund . I think there are at least two first run related to the fact that theyre ending now the first cycle of brick summit that was started in 2009. And it was a pressure to deliver something concrete. The second die mention i dimension relates to the reform of the financial institution. As we discussed already, bricks as a group was created in 2008 for these reforms. So far nothing has happened besides promises that wasnt realized in real life. So the second dimensions related to the pressure over the International Financial institutions in order to make strong this claim for reforms. But i do think there is a third dimension that should not be neglected, which is related to the fact that these institutions, at least the new development bank, as it is called, will offer an alternative for developing countries in terms of financing infrastructure projects, Energy Projects and other projects in youre watching the aljazeera news hour. Several rockets have been fired from gaza into israeli communities as a five hour humanitarian truce expired. Both sides denied reports they were close reaching a ceasefire. If you know release have been held for four palestinian children killed wednesday during an air strike near their homes. 235 palestinians and one israel have been killed in a week of fighting. Ukrainian military officials accuse russia of shooting down one of their fighter jets bay rocket. Eastern on you crane has seen fighting in several eastern cities for months. During an uprising in 2000, a photograph of a father and son cowering became an iconic image. The boy was killed. This is 14 years on from his death. He always is surrounded by his 10 children. Every time he looks at his 12yearold son, every time he looks at the scar on his arm, he remembers one is missing. On september 30, 2000, he and his son got caught in the crossfire between Israel Forces and palestinian protestors. This became the most iconic image from the uprising. He was killed by an israel bullet. He was the life of the family, the one closest to me and the one dearest to my heart. This is the down stairs room. Down stairs, the shrine to muhammed fills a wall. Today, theres another son with the same name as the older brother he never met. My parents tell me i look like him and act like him. This is the area humid died, the israelis were on that side, the palestinians fight ers on that side, they were caught in the middle there. If you look at the street now, its almost completely abandoned. Everyone is scared of israeli air strikes. A few seconds later, a mile away, the Israeli Military struck a suspected rocket launcher. The air strikes have been even closer for the family, 170 feet away, another 200 feet away. After a boom, his four admits shes scarce. Are you used to it . For all gasses old enough, this is the third conflict in six years. His home bears the scars. This whole area was demolished, is that right . During israels 2008 campaign, his neighbors house was bombed, the kitchen blown out. Hes rebuilt but feels powerless to shield his children from yet another war. This is the challenge our people face. Every day, our people bleed. This is not the first time. He cant quite finish. He told me the wound created by his sons death bleeds at random molts and never heals. Children are the most important thing to palestine. As long as there is occupation, there will be killing. As jamal was talking on a beach just a few miles away, four palestinian children were killed by an israel air strike, an image that may become as iconic and tragic as mums. Three aljazeera journalists have spent 201 days in an egyptian prison, falsely accused of helping the outlawed muslim brotherhood. Two were jailed for seven years last month, the third given seven years but receiving an additional three because he had a spent bullet in his possession he picked up at a protest. Aljazeera continues to demand its journalists be freed. The taliban claimed responsibility for attacking the kabul gnat have international airport. Four fighters targeted the military side of the airport. Jennifer glasse reports. The taliban attackers used rockets in the Early Morning assault on kabuls airport, setting a car ablaze. Afghan forces race to the scene, trying to find a way to dislodge the gunman from a building under construction. The attack started with rocket fire from these buildings towards the airport, then foreign and Afghan Forces started firing from their position. The attack went on for hours, the april closed and flights diverted. Kabuls airport has separate military and civilian sections, the latter used by the Afghan Air Force and nato aircraft. This truck was blown up. This is the most sustained attack this month and comes at a delicate political time. A review of the 8 million votes cast in the president ial election is same to start this week, hoping to name a new president by the end of august. The Australian Government has axed a contentious carbon tax on the nations worst gas producers. It was intros died by the previous labor government in 2012. Some say it punishes legitimate businesses. It has reliance on coal reserves for electricity. A helicopter crashed near school, all five firefighters onboard killed. They were searching for the 60 of the april 16 ferry disaster and returning to the headquarters at the time of the crash. At least 18 people have been killed in severe flooding in central and southwestern china. More than 100,000 people have been forced from their homes. Rescuers search forego survivors of a landslide that buried several houses. Six people are missing. Iraqs Prime Minister said its country should not split up. Sunni rebels have captured parts of the north and west in an attempt to carve out an islamic state. Almalaki called on government members to put aside differences and is resist be pressures to resign. All arab countries are on the brink of purr million and chaos as gangs and terrorists gather together to fall apart targeting mo hamed was the life of the family. He was the one closest to my heart. Downstairs the shrine to mow maw head fills the wall. There is another son now with the same name as the older brother he never met. My parents tell me i look like him and i act like him. Reporter this is the area where mohammed died. Mohammed and his father were caught in the middle right there. The wall has long be demolished, but if you look at the area and the street right now, it is almost completely abandoned. Everyone is scared of israeli air strikes. Just a few meters away the Israeli Army Struck a rocket launchers. After a boom in the distance, jamals daughter admits she is scared. Are you used to it . For all gagans old enough, this is the six attack in years. This man feels powerless to shield his children from yet another war. This is the challenge our people face. Every day our people are bleeding. This is not the first time. Reporter heing cant quite finish. He told me the wound created by his sons death bleeds at any moment and never heals. Translator children are the most important thing to palestine, as long is there is occupation, there will be killing. Reporter as jamal was talking on a beach just a few miles away, four palestinian children were killed in an air strike. Nick schifrin, al jazeera, gaza. All right. More now on that breaking news story and reports that a Malaysian Airlines with 290 people on board has crashed along the border between ukraine and russia. 295 people on board, i should say. The plane according to russianer officials was originating from amsterdam. 280 passengers, and 15 crew members were on board. Ukraines interior Ministry Said the plane was brought down by a ground to air missile. No information right now as to the number of casualties or death if any. But this is the information we have so far, 295 people on board a plane that crashed in ukraine near the border with russia. Joining us on the line is a military analyst. Thank you for speaking to us. I know we have very little f information so far, but from what you are hearing and also what the ukrainian officials are saying what what do you think happened here . Well, the plane was attacked. It was flying over a war zone, basically, where theres continuous fighting between Ukrainian Forces and russianbacked rebels. There have been planes taken down and helicopters by the rebels before that, and recently there was a plane taken down, it was a transfer plane on the 26th, which was flying rather high, which may mean at least that the ukrainians have said the rebels have a part, and they show their launch and antiAircraft Missiles with more serious missiles that can shoot down planes flying on high [ inaudible ] 10 kilometers. Of course i believe both sides, all sides in the conflict will say they have no responsibility. And it would be rather hard to establish who actually shot the missile. Though, maybe there are nato [ inaudible ] flying over poland and romania, maybe they saw something. The interior official saying that the plane was brought down by a bulk ground to air missile. Give us an idea of how deadly of weapon this is, and with all of the passengers and crew members aboard this plane have died, do you think . Well, most likely yes, and most likely when it hit most likely many were killed because they create a hail of shrapnel that kills a lot of people on board before it actually hits the ground. So survivors would be most likely impossible to find. If it was a bulk maybe it was some kind of other missile. Right now i believe its too early to jump to conclusions, but these missiles can hit at planes flying at High Altitude and at low altitude, these are regular mismiles radar guided. Maybe there was Ukrainian Military air activity at that time, and if there was a crew firing that missile, they could actually make a mistake and the missile self Guidance System could take on a bigger target if the military target disappeared. It tooks on civilian targets, such things basically happens sometimes. Thats why planes should not fly over war zones. Of course all sides tell us about sorry to interrupt you. But tell us about this area where the plane supposedly crashed. Er this is an area where there has been intense military activity in recent months. Is a dangerous area . Where would a civilian airliner be allowed to fly into that air space. In fact it was using precorridors. Recently there was of course fighting there, and there were planes shot down, but these were lowflying planes and helicopters shot down by shoulderlaunch guided antiAircraft Missiles that cant hit anything higher than 3 kilometers, which puts a civilian passenger plane flying at 10 kilometers or higher out of danger area. But if apparently more serious and more powerful missiles were introduced, this makes the area highly dangerous for civilian aircraft. That was most likely someones serious mistake to allow the plane to fly over such a place. The rebels officially right now dont have any air force, and the Ukrainian Military, which was fighting the rebels was using air force, so this indicates that this could be rebelheld missile or missile operated by russians or someone who maybe didnt have the right qualifications and didnt see in time that they have to abort their attack, because they are taking on civilian aircraft. I know its its very early right now, and i i would be asking do you speculate. If i asked you, you know, whether this was an accident or deliberate, because we have heard accusations from both sides, both sides accusing each other of downing aircraft in that area in recent days. I believe this was a mistake. Of course there was a case some years ago when over the black sea Ukrainian Missile Aircraft Missile during exercises fired from crimea took down a russian passenger plane flying to moscow from telaviv, that was a mistake. So much mistakes have happened previously. I dont think that anyone wanted to deliberately shoot down the plane. It simply got in the wrong time in the wrong place. Wrong time in the wrong place. Lets just update our viewers who are just joining us on this breaking news story. Reports that a Malaysia Airlines plane has crashed on the border between russia and ukraine with 295 people on board. The plane originated in amsterdam. This is being reported by the interfax us in agency. Russian officials at the interior ministry saying that the plane was downed by a ground to aramis missile. And the same official says that he believes that all of the passengers and crew members on board have been killed. We have no way of confirming this as of yet on al jazeera, but just bringing you what were hearing from the ukrainian firms. We have on the line with us now a military expert talking to us about the area where this crash is reported to have happened, and pavel as we have been saying this is an area where there has been fighting in recent days. Youre watching the aljazeera news hour. Several rockets have been fired from gaza into israeli communities as a five hour humanitarian truce expired. Both sides denied reports they were close reaching a ceasefire. If you know release have been held for four palestinian children killed wednesday during an air strike near their homes. 235 palestinians and one israel have been killed in a week of fighting. Ukrainian military officials accuse russia of shooting down one of their fighter jets bay rocket. Eastern on you crane has seen fighting in several eastern cities for months. Obviously still speculation at this time, but i know we have had some confirmation from ukraine that the plane was shot down by some kind of surface to air missile. At this stage its far too early to say, but obviously it is a great tragedy. This is the second plane this Malaysian Airlines have lost in a matter of months, and the first planes disappearance the investigation into that is still underway. So this obviously is a great tragedy for the airline. Indeed, especially when you know were 295 people on board. Stephanie, i know its probably very late right now or midnight there, no official reactions, i imagine . No, other than the statement on the twitter feed. We have heard nothing more from the airline at this stage, but i certainly think given their experience after the first plane went down in march, they will certainly be reacting far more quickly this time. But i think we can certainly expect something from the airline in the next few hours. About 16 gnt, you are watching al jazeera with continuing coverage of this breaking story. A Malaysian Airline near with border of ukraine and russia. The plane was flying from amsterdam to okay. What are these pictures . These are unconfirmed
comparemela.com © 2020. All Rights Reserved.