Countrys economy could collapse with fears of a humanitarian crisis. The u. S. Sector state says pulling american troops out, were gonna start with the right decision, antony blink, and told a congressional hearing. The staying would have joining more troops upon taking office. President biden immediately faced the choice between ending the war or escalated. Had he not followed through on his p s. S. Clip attacks on our forces and those are allies, what region and the taliban nationwide assault on afghanistan, major cities would have commenced that would have required sending substantially more us forces into afghanistan to defend themselves and prevent a taliban take on taking catholics and with best prospect restoring stalemate and remaining stuck in afghanistan under fire indefinitely. The un human Rights Chief is calling for accountability for alleged human rights violations by ethiopian government and to ground forces. Michelle ballet says civilian suffering has been widespread since fighting began in november last year. Israeli prime minister natalie bennett, says hes had important discussions with the egyptian president. The leaders agreed to strengthen bilateral times. They met in shawna shake, Norways Labor Leader Jonas Guys to says hell seek to form a Coalition Government after landslide when they go sessions are likely to focus on the Oil Policy in Relation Apple has released software to fix their Security Floor that allowed hackers to infect phones and searches, say the caps, the malicious code from spyware made by the israeli company. And as so group. And south korea is fine. Google a 177000000. 00 accuse of using its dominance to stifle competition. So those with a headlines and hes continues here now just era after counting the cost station. Thanks for watching bye. For now, the discover the world of difference determination. Im coming down, we are moving freedom. We saw on the 16 people, corruption and compassion, the Al Jazeera world, a selection of the best films from across our network of channels. Ah, ah, hello, im money by this is counting the cost on Al Jazeera. You look up a wealth of business and economics. This week, remember bricks, they were meant to transform the global economic order, with the exception of china, brazil, russia, india, and then later on South Africa been a disappointment. Well take a look at why and question how long before emerging countries can realistically think of playing that north atlantic order. Also this week, zambia, the 1st african country to default on its debt. In the pandemic era, bought a new president has invested clamoring for debt, even as he warned they could be a big hole in the finances than originally. And ship shortages could not millions of dollars from or to make a style. And thats not the only challenge they face. We talk to the chairman of de la about das, disrupting the most industry. Ah, 2 decades ago, the investment bank, goldman sachs, came up with an acronym that was supposed to shift the economic balance of power breaks. That is brazil, russia, india, and china would over time come to dominate the rankings of the wells, which is the economies that was good reason to be optimistic. Big growing countries which collectively represented 45 percent of the worlds population. The leaders began to hold regular meetings. They started 100000000000. 00 development bank. They even invited South Africa to join the club to complete that acronym. But 20 years on the group has really failed to live up to its expectations. Well, most of them take a look at this just on G D P basis. China has stormed ahead with cumulative growth of almost a 1000 percent since 2001 thats almost double the Gains India has made. And you can see South Africa that lagging way behind the others, brazil and russia. Now this is growth during the pandemic. China managed to make a strong recovery, 2. 3 percent to the good in the, on the other hand, had a terrible pandemic in so many ways. Everyone else on the list offered to im find me this chart. These are the top 12 economies back in 2001. China is ranked at number 6. Brazil sits at 11. You cant see india and russia, but they all in the top 20. And this is the top 12 in 2020, chinas jumped 5 places. Theyre now the 2nd biggest economy in the world. India climbs up to fix place while brazil drops out of the top 10. So lets go through the brit countries in a little more detail in the 1st of all. And even jim oneil, the economist who coined that bricks acronym, has acknowledged it have no simply disappointed in recent years after a series of missteps by prime minister nor in de modi. He abolished the most commonly used bank notes, failed in his promise to crate 10000000 jobs a year. And any hopes of creating a 5 trillion Dollar Economy could be pushed back by the pandemic. The knock on effects of covert have seen millions of people in the middle Class Drunk back into poverty, brazil and russia, while they are far too dependent on the Wells Commodity Cycle for their development. Both missed grace targets in the last 10 years, with russias troubles compounded by sanctions over the annexation of crimea, and its interference in the us elections. And finally, the South Africa, the addition to the bricks, while on the 9 years of President Jacob Zoom as rule, im a 13000000000. 00 was allegedly looted from the state. His imprisonment for not cooperating with the Corruption Inquiry has led to riots. But already there was so much anger in the country where unemployment sounds out of record 34. 4 percent. Ok, so lets get into all of us with edward gloss on skype from london edwards, the emerging Markets Economist at aberdeen standard investments. Welcome to count, take the cost that jim oneil has joked in recent times that maybe rather than breaks he should have coined the Term Ex was the right to highlights the Growth Potential of these nations. I think he was obviously in the 2 thousands the brick economies i think, did live up to those lofty expectations, rapid growth, structural reforms over the past decade. So its, its been very disappointed in the past decade. Pump join trade to buy crises. Obviously we had China Evaluation Phase crises in brazil in russia. So its not been a great last decade for sure. So what went wrong for Priscilla And Russia . Why havent they hit their full potential . I think its a combination of things over the external backdrop has become much less favorable. Commodity prices have collapsed and theyve rebounded more recently, but theyre structurally much lower now. Of course, domestically that they have had problems as well. So and so those big corruption scandals hit hip Areas President s and then of course in most youve had, youve had sanctions which are really crippled the economy and financial markets to where they ever really a proper block because they did meet regularly. They set up an infrastructure bank, but it also feels like they were kind of thrown together. Yeah, i mean, i think they all, theyll still meeting regularly or annually at the conference, but i think i know these meet can tend to generate very few headlines and very little substance. I think its more than the kind of big fat piece. And now the case where, where the, the major events dont really crave much of a major substance. So what are your thoughts on china now going forward . Is it just going to continue on this trajectory of continuous growth . But there is up to 2 main questions from china. Really, one is kind of near to one and one a longer term was of course as, as with most still grappling with with cove it and in particular is 0 cobra approach. The crisis is really common on the scrutiny so that there is a Question Mark about how paul is to make his move forward with, with the Cova Policy and whether they, when they relax that policy. And then the 2nd one is just more generally kind of the extent to which structural growth is slowing. You know, always seeing we, weve seen very weak growth numbers and over the past few quarters, how much about cyclical . How much that stuff. And if it is to show how to policymakers actually start to really boost growth from Hair Post cove it. What about time is push the common prosperity. Thats not trillions of the body of stocks. Yeah, i mean, i think, i think this, this, this column prosperity, goal is so many policies and that kind of come along scientist for one of the main challenges for china is obviously of the to regulate humans and to craze massive ripples and fines for markets. And the key question, as always with chinas policymakers is, how did a structural growth and how do they, how do they kind of limit the funds for one abilities that may be growing on the surface while also trying to trying to be growth. And im preventing kind of moral hazard and the why the financial system. What is interesting is that all for original nations also were led by populace leaders. Now clearly some countries have suffered. But what does that tell us . Well, i think it tells us the populace can popular has good size and both sides under the external environment, populous problem can be good. And the word theres nothing inherently bad about having popular policies. The problem is that when the external backdrop becomes unfavorable, or when you have extra micro vulnerabilities, then lists can often create funds for Market Volatility because they continue to continue to be popular policies come, you know, exacerbate the economic abilities. So i think its all about context and turning to india. What do you make of . Nobodys humbling of the pandemic how he lived up to expectations, because he hasnt delivered on his promise to create those 10000000 jobs yet. Yeah, i think obviously colbert has, has, you know, to say the least phone will span or the works of promise i think mode is handling the pandemic has, has, has been weak, but not necessarily any weaker than policymakers elsewhere. You know, looking, looking at boston are, for example, in brazil. I think the key, the key task now for the government is to really ramp a vaccination race. Because places like brazil and, and china have really done quite well on the Backs Nation campaigns in india. And also South Africa has have really struggled on that for that. That is the key task promoting his government at the moment. Edward good to talk to edward gloss up speaking to us from london. Edward is the emerging Market Economist at aberdeen standard investment. The news El Salvador has become the 1st Company in the well to adopt bitcoin as legal, tender. The president has declared that the future for the country, but economists a warning that using the volatile and unregulated Crypto Currency is a risk. John home and reports from a launch, a Stuffing Town where Bitcoin Pilot Project could full cost for head. This is where i saw with those big coin experiments. Again, it was on site a small time with 3 years ago in anonymous donor, a local people digital wallets, with the Crypto Currency. Now the country is expanding the experiment nationwide. And so with those about to become the 1st country in the world to use bitcoin as legal, tender, it will run. Its another option alongside the current currency, us dollar. We travel 12 on tape to find out how the Pilot Program is gone and what it could mean for the rest of the country. We found plenty of, infuse, just like 70 percent of people in El Salvador doesnt have a bank account. Hes big coin. Well, its a way for him to put some money aside there, but i have a low income. I dont move much money. The little i have, i spend on food. So with bitcoin, i can save up and thats the big coin is going up in value, is seen, its more savings, great to the problem is the big point swings down as well at times heavily of the people here are set up with that is if its tough because its unstable. For example, if you take a Surf Class and pay with bitcoin, i can accept it. The next day it goes down and there are losses for me. Its the same for the bar, the shop everywhere. And imagine that volatility nationwide, and one of the poorest countries in the americas, it can make the governments decision, seemed like a blind bet. A recent survey shows many people here might not take that, that to 3rd say they dont want to be paid in big coin and the facilities, the government hardly putting together for the new currency might not convince them. When you want to cash out your bit quizzes, the actual dollars, you have to use one of these special atm and the government is a setting up 200. 00 of these across the country. So lets see. Do this. Ok, and then the money should come out. The only ticket here is that these actually charge about 5 percent of commission to do the service thats already been enough to put of some of those on why not just use dollars. One group who might see the benefits of the system, commission, or know a criminals who will see a number regulated but state sanctioned currency. Were not us, but ive been us. One of the advantages of bitcoin is deana emitted, but for regulators, thats one of the risks. So the worry is that Al Salvatore turns into a fiscal paradise for those who want to launder money from drugs or corruption. The president has been emphasizing the positives big coins will bring jobs, financial inclusion, and investment. He says, especially as salvador will be the 1st to use it. The question is, will the country become a trailblazer will simply sink John Home and how does it say, salvador, lets move to zombie now, which became the 1st country in africa to default on its debt. G to the pandemic, zombie as problems. Pre date, the pandemic, and a lot of that has to do with dependence on copper prices, tanked and africa. The 2nd biggest Copy Exposure found it difficult to meet its payments. And the governments been spending more money than its been collecting in revenues. But in the last 2 weeks or so that be as currency in bond markets have been on a tier. And that has a lot to do with the election of Hockey And H l. M. As the countrys new president , his Finance Minister hopes to strike a deal with the international monetary fund for a loan was ambia have debts of about 12700000000. 00. The international monetary fund could provide 1300000000. 00 in loans, but they are long term problems. The currency, the quadra, has depreciated 344 percent in the last decade, which has sent inflation to almost 25 percent the highest into decades. Gregory smith is with us now, skype from london, a former well, Bank Economist in zambia, an author of the book where credit is due, how africans debt can be a benefit, not a burden. And he, thanks for joining us on counting the cost. Mr. Smith. So where did it all go wrong for zambia . Is this another case of the Resources Car Design be an economy . Its been under real pressure the last 5 years and hasnt changed as much as its potentially suggest. So wouldnt say its all gone wrong, but theres a big mess and a lot of effort needed to turn the economy around. And its true that the ambient economy is very dependent on copper. But the notion of the Resort Curse to me sort of spells a sense of doom. And im an inevitability of challenge. But i think the ability of zambia to produce copper is also a huge opportunity. And as the world moves to net 0, were going to need a lot of copper. And so i think zambia can work with the resources it has and produce much better economic outcomes for citizens. While the currency in bond markets are clearly liking what theyre hearing from the new president , are they getting ahead of themselves . With the result of the election, there was a huge boost in confidence and both the zambian quite so rallied as did the 3 Bonds Ambia has that trade on global markets. And since then, the euphoria has tapered a little bit. And i think wal b, i think this is sensible because anyone buying those bonds knows that theyre in d for the interest is being paid and what investors are doing. Theyre looking at the price of the phones versus what they think they will recovered. And eventual restructuring. So i think the next bit of confidence would come if the Government Couldnt get the right people. And weve seen some announcements of the cabinet so far and they look good. But then next is the policies. These ministers come up with the, the national budget, the set, the, the fiscal saying for next year. And then from that we can work out whether they might get the support at the international monetary font. The new president has warned as possible, more debts than have been declared. How worried you about those . Yes, im always worried about that. I analyze debts in many different countries. And in my book i write about how its very difficult to define debt. There are many different measures and its, its, its a complex matter and one Countries Measure is different to another. I think the different states that some people are arguing over what, what that is dispersed actually has been paid and what is contracted. So when you get the numbers from the ministry of finance, you get one number. But if you add up all the different projects youve read about in the newspaper, you might get another number. And the other difficulty is what, what to include in the. Ready the nash Debt View includes state and enterprises like electricity, utilities, and things like that. And if, for example, in zambia, those have huge assets like hydro, electric dams but also debts. And its a decision whether you put that on the Government Balance Sheet or not. But then what weve seen over the last few months is the government, the form of government that was voted out just now, or hugely on domestic market between april and june and the run up the election despite already being in before that thats. So thats a huge mass to unravel. There is always a Tail Risk of hidden debt as we very tragic the so remote m b, but that remains a Tail Risk and, and for many countries. But i think the biggest problem with that stocks is working with what definition is each person using intends to in, in order to reconcile the numbers properly. Now, one that were sources and africa, we often find china is trying to influence to Power Phrase your book. A benefit or burden. Theres all sorts of chinese engagement in africa in Trade And Business in diplomacy. And also a huge scale off of blending child has been lending to zambia since the 70s. It started with a very large railway that would link zambia called minds to doris alarm on, on the engine a she coached. And so we got a long history of this, but it had scaled up massively in the last 10 years. And thats why its a whole chapter of my book is dedicated to chinas lending and it pops up all the way through in the different chapters. And i think when i look at chinese landing, ive lived in zambia and travelled around the country. I see some wonderful projects, one and some, some dams that will produce electricity and in a carbon free way. And at the other end of the spectrum barrel, there were roads to nowhere. And there are expensive projects. So its very difficult because there are many different chinese lenders, many different chinese types of loans. China is also evolving as a lender. It starting to provide relief. It was doing that before the kobe pandemic. Can you see kenya, and then go la. And since the pandemic has been providing debt suspension, their child is also changing as a lambda. Gregory smiths really interesting to get your thoughts, gregory a former Well Bang Economist in zambia. Thank you. Finally this week you might have heard about a global shortage of semiconductors. The chips which operate all sorts of electrical products. Well as a result, comic it sounds lose billions of dollars in sales this year. Its estimated 3900000. 00 cars will not be made or thats almost 5 percent of global production, which will wipe out sales of a 110000000000. 00. Even so, the flashy car shows have started up again though even they are evolving as re simmons. When to look at some notice in munich, 2 years without show when now europes biggest. Com a good germany takes Center Stage asian gentlemen. The id lies lots of razzmatazz and not a gas guzzler insight. Here attempt to come a nurse of around 808000 german workers. Dependent on the Car Industry was the outgoing german chancellor on this upland on conduction. And we want to pick up where we left off and allow the economy to really catch up. Again. This can already be seen in the Motor Industry. Even if some supply bottlenecks are costing shadows at the moment. Those shadows take some of the shine off, electric car sales. The weakest Link Isnt Range anxiety, your recharge infrastructure. Its the chip many millions of desperately needed semiconductor microchips to be exact. Its serial. I mean, there are manufacturers that have to stop certain production lines because theyre missing out on the p o that they have to built into the car. And this will go on for a couple of months while the Motor Industry itself is doing really well. The shows promoted have crashed cancellations because of cov, it have cost organizes more than 40000000000. 00. Even before the pandemic, the shows were losing money. So now, although at 1st Sight you might not realize it, there are changes. Its shiny, its new, futuristic, contemporary. But you might be forgiven for thinking this is akasha. The organizers say no. Make over is underway. Corporate consultants have dropped the Word Car from the events name. Its now a Mobility Show and the consultants have come up with what they think. A catchy questions. What will move those next food stamps may be this or thomas bus, or for those of us old enough to remember the bubble car. This one has its own brain. All electric motorcycles, Power Pedal bikes. Another question, why are we here . Well, many big names from the United States and elsewhere didnt show up to answer that. The electric car is secure, the road ahead is green, but for the Mobility Show, the future may not be as smooth run. Andrew simmons Al Jazeera music. Well, in addition to that report from Andrew R Economics Editor and ali had the chance to speech the chairman of daimler, better known as basically mercedes. He art or la cologne. Yes. About among other things. The electric challenges from the lies of Tesla And China is near. We are accelerating our past towards full electrification. And indeed, by the end of this decade, we want to put the company in a position where we can go all electric, where market conditions allow. And already at the middle of this decade, every new Vehicle Architecture from Mercedes Benz will be electric only. And on the path to the diamond us a hole in the next 5 years will invest more than 70000000000 euros in these transforming technologies to make it happen. You mentioned the electric architecture and they are going to be a lot less moving parts, particularly in the engine. What will that mean for jobs . There will be a change in profile on some jobs throughout this transformation, this decade into the next decade. Where some of the jobs that we know on the Power Train Side on the Combustion Production will decrease. Whereas we have job increases for the electrified Power Train or in totally different areas. Such a software where we are currently hiring thousands of software engineers. The pandemic has really hurt supply chains in particular, semiconductors. When will the bottom that clear up . And what does that mean for production . Cobit 19 has been a real Stress Test on many supply chains, including the semiconductors, which is affecting us. Now, you could maybe look at it as a Traffic Jam on the motorway. Everybody stops and it takes a while before all the car. So moving again, we hope and believe this quarter 3 represents the trough of the impact and we can gradually start getting back up again in q 4 towards more normal production levels. Do you think the Use Desire to produce more chips in europe is realistic and beneficial. Would have helped join the pandemic strategically. That is the right decision. But this here were talking about Something Kind of 25 or beyond what you can do and foresee. And this is where you have to live with a certain level of uncertainty. The recent shutdowns have been because of cobra. What tests detected are supposed to shut down in malaysia. If you have the panoramic where you have to shut down a piece of production, i dont know how you would plan for it. Do you have the Battery Capacity to deliver your ro lights treat cause we have source with our partners up until the year 2025 may be beyond 2025. Now we are accelerated strategy in 2 electrification with 200 gigawatt hours needed by the end of the decades. Going fully electric were upping the ante and were discussing with our partners how we can increase the Cell Production Footprint for us around the world. As well as working on a European Initiative in this regard as well, on colonies, chief exec to mercedes. Thank you for your time. Thank you for having me. Im that is all shy for this week, but i want to know what you think and what you want to see on the Tweet O D a me money on. If youre tweeting the, please use the Hash Tag a J O E mails. Maria, thank counting. The cost that out there at Dot Net is addressed and theres always more online thats out there a Dot Com Slash accounting the call. Ill take you straight to our home page. All our previous episodes are up to catch up. But that is it for me, for this position of counting the call time Money Bite for the whole team for turning up. And you know, theyre coming up next. Ah, with Government Support . Swindling rushes, parliamentary elections take place in september. But as Opposition Leader electing the valley remains in prison and to finalize a band from taking pod could do to the kremlin be wide open for another clean sweet fruit. In supporting the personal coverage on Al Jazeera, the story that need to be told find away. And demand to be heard, the opening the window into another light and challenging perception and personal endeavors in epic throttle with the colossal sacrifices in individual Journey Witness showcase it inspiring documentary the change the word on Al Jazeera. Ah, hello, im down jordan into the top stories here on out to 0 international. Dont as a pledge, more than a 1000000000. 00 for the dentist on the Un Secretary generals as hes concerned the Countrys Economy could collapse with fears of a humanitarian crisis. Are difficult to get us at james bays reports. The Un Secretary general came to geneva with the aim of getting the international community to provide at least 606000000. 00 to help are going to stop before the end of the year. The people of afghanistan need a lifeline after records of war. So