tv Counting the Cost 2018 Ep 35 Al Jazeera September 4, 2018 8:32am-9:01am +03
of all the reporters who are sentenced to seven years in prison to investigate and a massacre of ten running muslim. police in brazil have fired tear gas at protesters outside what's left of the national museum in rio de janeiro the protests followed a massive fire which destroyed the two hundred year old building brazil's president has promised to rebuild it. a challenge seen as a test case in the legality of colonial era territory deals begun the un's top court brushes as claiming it was coerced by the u.k. to give up a chain of islands in exchange for independence the chain of islands were taken away from russia's in one nine hundred sixty five when it was a british colony those were the headlines more news in half an hour counting the cost is next. in indonesia palm oil is a billion dollar business want to win east investigates the price the country's pain. to feed the world's growing palm oil addiction. on al-jazeera.
alarm hasn't seeker this is counting the cost on al-jazeera your weekly look at the world of business and economics after a week of nafta talks we'll look at the impact trump's approach is having on world trade. also this week how high can they go argentina has the steepest interest rates in the world after raising them to a record sixty percent. why social media celebrities bloggers and instagram personalities may be forced to come clean about their product endorsements. so it's been a tense week of haggling for mexico the united states and canada the twenty four year old north atlantic free trade agreement was designed as a three way deal so the u.s. and mexico surprised everyone when they reached a bilateral agreement first mexico's president elect takes office in december and
so the mexican's really wants a free trade deal before then the message to canada join in or face auto tariffs it all amounted to a pressure cooker atmosphere it's worth bearing in mind that any deal will still need the approval of legislators in all three countries canadian foreign minister chrystia freeland went to washington to try to repair the damage asked if a deal could be reached she said this. you're tempting me to say something church knowing it was the end of the beginning beginning of the end but let me just. a lot's has been accomplished assignment evan that joins me now from st gallon university in switzerland he oversees the m.b.a. program there and is a professor of international trade and economic development thanks very much for being with us so does this updated nafta have have the kind of support that it
needs from from the business community and the general public right now the updated nafta agreement especially the u.s. mexican deal will be supported by business really for almost the relief it gives because the uncertainty was killing investment plans as for public support for this i expect it will be much greater in the steel sector and in the call sector and in the states of the united states where those industries are well represented like michigan so what was a stake there then between between those industries that you're talking about particularly between the relationship they have between the u.s. and mexico and is it really that different from the current nafta deal well involves two things that let me answer the second one first the new death to deal is actually a very small modification of the old nafta deal it's been dressed up to look like it's a big deal for political reasons and this is one of the reasons why i think the business community will be so relieved to see that there hasn't been there won't be too much
disruption to their supply chains there's enough meat in here which has been given to the trade unions however that they will be supportive of this particular deal when it goes before congress and what about. the negotiating tactics of president trump and particularly the pressure. that he's been putting on on canada this week to to reach a deal this week what effect what do you make of that what effect is it having so they're negotiating to. actives of the trumpet ministrations a classic power play they've essentially divided canada and mexico mexico needed to have a deal quickly before their current president leaves office and that required signature by the end of this week and then this deal was done with the canadians outside of the room and of course once the deal was done with mexico canada desperately wants to retain its membership of nafta and so will come under enormous pressure this week to make concessions to the americans probably in the areas of dairy products
and and investment disputes and president trump there generally prefers bilateral deals rather multilateral deals and he's certainly likes to tweet about it publicly what what can we learn from all of that i think we learned that and this sense he is true to his word that the president doesn't like to be negotiating with big groups or even small groups of countries he wants to deal with each country one by one it should be said however that the deal he's doing with mexico and he will probably do with canada is a bit like the renegotiation of the korean trade agreement and that was you know these are these are deals which have been reworked and ultimately to the advantage of the united states but there are no there are no more such renegotiations planned that the united states has so i think in terms of the broader implications going forward this nafta negotiation is rather special as the last in the renegotiations
that he wanted to undertake i think the much bigger questions will turn to how he in how he treats china and automobile imports in general in the months ahead yes or what what i mean can we measure at this stage what impact all of this is going to have on global trade. the impact of the read work after deal is going to be absolutely trivial for global trade there will be some mexican firms who will want to source more parts and components from north america and less from latin america and and from china but this will be relatively small i think the big the big factor is that as more and more evidence builds that trumps bark is worse than his bite on trade then business uncertainty and fear is about a trade war will subside and this will help bolster investment and trade flows so i think the main mechanism is actually for reducing fear of the business community that the world trading system could be seriously disrupted by any of trump's tactics mainly because he is just not converting his harsh tweets into severe
sanctions other than for china who are who is feeling the brunt of his particular pressure of the moment so what's all this going to mean then for consumers is it is it going to mean higher prices for some some goods for them particularly cars you mentioned cars earlier there will be a slight increases in the costs of cards produced in the north american region probably greater increases in cost in mexico than in the united states some of that will be passed on to consumers probably as for in the small end cars which have much smaller profit margins larger calls have much larger profit margins in the firms can absorb some of the costs there simon evan ed good to speak to you thanks very much for being with us thank you very much a u.s. president donald trump googled himself this week and he didn't like what came up without any evidence you accuse google of giving prominence to news articles that are negative about him is about to address the situation our white house
correspondent kimberly how could as more. you know i think google is really taking advantage of a lot of people in the allegations from u.s. president donald trump that tech giants like google and facebook are silencing conservative opinions we have literally thousands and thousands of complaints coming in and you just can't do that so i think that. twitter and facebook they're really treading on very very troubled territory and they have to be careful it's not fair to large portions of the population trumps comments follow a tuesday morning tweet we're trying to claim to google the search term trump news with negative results he says online searches are rigged by liberal owned media groups to shadow ban or silence conservative viewpoints that's why trump economic advisor larry kudlow says the administration isn't ruling out action even regulation you know we're taking a look at it in
a statement google denies it searches are selective it says that when a user types a query into the google search bar its goal is to make sure they receive the most relevant alzheimer's in a matter of seconds search is not used to set a political agenda we don't bias our results toward any political ideology is not accurate this tech industry analyst says trump's allegation that tech giants are systematically biased against conservatives is nothing new if trump is google searching himself in finding that a lot of people don't like him that's because a lot of people don't like him to be clear that would also been true if brock obama had googled himself but conservatives in the us are pushing back it's basically an intergalactic invasion. people they point to the recent removal of controversy all right wing radio host alex jones from facebook you tube and spotify private tech companies say they're legally within their rights to ban offensive content critics
say. silencing dissent some republican members of congress are even arguing today's big tech companies are monopolies in the marketplace and should be regulated to foster political debate from all sides a move the white house now appears to be considering. all right still to come on counting the cost i'm florence lee in sabah state malaysia where the demand for land development and biofuels is threatening not just forests but a way of life. but first argentina's currency continues to fall despite central bank raising the key interest rate to sixty percent the highest in the world labor unions are planning walk ounce and students have been on the streets over university cuts whole cheder general for. the downpour from turbulent economic storms over argentina couldn't stop these
university students on thursday night. the students along with their professors braved the rain to march through one of so i research and expressed our outrage over budget cuts in education but i found that i'm here to defend free and high quality public education on a time salaries don't masturbate of inflation at the market to go with going to that level at the top of the lower university budget the country is in a crisis because of the international monetary fund. the international monetary fund has extended the fifty billion dollar bailout loan to argentina when president . for an early release of the i.m.f. funds the peso tumbled to a new low against the dollar ending the day at nearly half the value it had on january the first not just implicitly with a dollar worth over forty pesos we cannot buy teaching materials supplies or tools to support a hint of what if the show inflation is exceeding thirty percent and we are earning
less than we need to feed ourselves there are teachers who are living in poverty. protesters say basic needs get more expensive every day you took the rates have increased one thousand five hundred percent and businesses are closing leaving more people jobless they blame president for what they call neck anomic disaster. economists say the government needs to stop foreign currency from leaving the country however the government has done the exact opposite totally deregulated markets. sort of setting the grounds for this run on the dollar president mccree is trying to ease panic among investors he has promised to restore economic growth while cutting argentina's budget deficit reducing inflation and making the six hundred forty billion dollars khana me more competitive and. i think you have to give the government times the legacy of the previous government is very pronounced very complicated but not everyone agrees that more time and patience will save argentina's economy from a total collapse. all right let's take
a look at some other stories catching our attention this week it was billed as the biggest i.p.o. ever the reuters news agency reported saudi arabia's king sound man has put the brakes on the planned public sale of the national oil company the flotation of five percent saudi aramco was supposed to happen this year but has now been put off indefinitely it was a key part of crown prince mohammed bin sandman's saudi twenty thirty economic development plan but the reuters report says the king doesn't want to open up the books to regulate this. mugging nicky is a senior analyst at the seaward group a consultancy an advocacy organization he says saudi arabia's economic outlook has changed. we have to remember back when this i.p.o. was announced it was early two thousand and sixteen the economic context was very different than it is now saudi arabia was coming off of
a year where their budget deficit reached close to one hundred billion dollars the price of oil was still low there were a lot of reforms that were on the agenda but had yet to be implemented and i think we have to remember that that's the context within which the i.p.o. idea came about now. after the enthusiasm around that i.p.o. has subsided we see a very different economic context in saudi arabia the i.m.f. issued relatively positive consultation that they concluded in july we saw growth non-royal growth reaching about two point three percent a decrease in the but year on year budget deficit from about nine to four point five percent expected in two thousand and eighteen and also the introduction of various other economic measures like the value added tax and reducing fuel subsidies so of course there's going to be some disappointment on from global investors that were very hungry for it to be part of this i.p.o. there will certainly be disappointment from some policy makers within saudi arabia
that hope that they could generate approximately one hundred billion dollars from this i.p.o. that with then feed into the public investment fund now one company that is gearing up for an i.p.o. is u.k. luxury carmaker aston martin it wants to lift shares on the london stock exchange later this year and it's aiming high with talk of a six billion dollars valuation it also wants to double production from current levels but it cheating that goal could depend on its success in attracting female bias james bond's favorite sports car maker as only ever manage to sell five percent of its cars to women. are driving us vehicles were in focus this week japanese carmaker toyota announced it's investing five hundred million dollars in the idea is that toyota will provide the cars and the autonomous driving technology but their future robo taxi business model has yet to be fully worked out big
questions over safety remain unresolved after the first pedestrian deaths involving a self driving back in march and a big move in the world of caffeinated drinks coca-cola has snapped up koester the u.s. soft drink giant paid more than five billion dollars for the world's second largest coffee chain to the u.k.'s whitbread the deal will give cocoa almost four thousand coffee outlets in the u.k. and across europe hot beverages is one of the few areas of the drinks landscape where coca-cola does not have a global brand. our celebrity social media influences have a new set of online followers advertising standards authority online celebrities and bloggers have millions of followers across platforms like instagram and facebook that's why they're called influences but many of these stars do not reveal if they have been paid to promote fashion or beauty products or even services like
plastic surgery and that is something authorities in the u.k. and in the us a starting to examine and prosecute. according to a study by media kicks an influencer marketing agency ninety three percent of sponsored posts made by the top followed celebrities on instagram are not disclosed the fashion industry is one of the biggest sponsors of social media advertising but many beauty tutorial creators for example neglect to mention that they're being paid to promote products big brands such as tobacco companies use social media influencers to promote their products consumer watchdogs in the u.s. and in the u.k. say they have started looking more closely at social media marketing practices one of the reasons is because influencer marketing has become extremely popular for targeting generations said that is the demographic roughly aged eleven to eighteen
the message is clear social media stars who don't come clean about being paid to promote certain brands could find themselves in court along with their sponsors are joining me now from london is roopa shar an influencer marketing regulatory consultant and founder of hash tag thanks very much for being with us so for the uninitiated among us just explain to us broadly what exactly is influencer marketing sure it's at its my simple it's where brands will partner with a somebody with a large social media following to promote their products and that might be three just a single sponsored post or through a long term campaign so people like the kardashians for example they would be they would be a good example of influence or marketers yes yes they are an example they're an example of a celebrity but actually quite a lot of influence marketing happens with someone they people with much smaller following so for example ten to one hundred thousand followers they might not be
celebrities if we know them you might not see them on t.v. but they will have for example instagram or facebook or twitter following. and some of these celebrities are getting a little bit more scrutiny now aren't they because of the products that they're pushing and the fact that many people are not aware that a lot of them are being paid. to do this are we reaching a point now where they are going to get more scrutiny from from advertising authorities and so on absolutely yes i think it's been described as the wild west previously where you know the average person couldn't actually tell if a post had been sponsored or paid for in some way so the advent of investigations from the f.t.c. the a.s.i. in now the cia it's definitely the influences are much more aware of what they need to be doing and brands are also a lot more aware of how they need to ensure that post of clearly disclosed why is
this so important what does this mean to the so-called generation of generations that it's coming up now well it's important because you know generation the we are consuming much more social media content than we ever have before. so the markets you know the market for instance marketing is growing exponentially and we're immersed in it so traditionally we've always been able to tell the difference between advertising for example on t.v. and editorial content there's been a clear distinction between the two whereas with the social media marketing sometimes it's very difficult for a consumer to be able to tell what is paid for and what isn't and it's important for consumers to know this because it will make a difference to their decision as to whether they actually believe that influence a cares about that product and makes a decision difference as to whether they actually want to purchase that product so being very clear as to whether something is another and when it isn't is important
for consumers throughout the world and how big an industry are we talking about here at the moment i mean how big is the influence of market in the u.k. . around the world it's huge so globally we're talking billions of dollars and it's growing exponentially so i think some forecasts the earth are estimating potentially twenty billion dollars in by twenty twenty so it sir is a massive market and one in which brands and advertisers a fully aware that they're there can be some gains huge gains to be made from the news and influence of marketing so it's set to rise certainly and how big a budget do companies themselves allocate for something like this that can really vary so it can go from anything for very little some brands still to influence the marketing to up to forty percent or hundred percent certainly some products i've seen of. actually you know the whole premise of that product is to be solved by influence of marketing only and you will only ever seen it seems marketed on
instagram or twitter or i g t v for example now one of the news platforms so it's it depends on the brands but if you know if it's a brand that contain the markets most of them will have allocated a budget certainly by twenty twenty a lot proportion of their budget to influence a marketing group or shore thanks very much for being with us they're welcome thank you and finally biofuels have been touted as a green alternative to fossil fuel and global demand for biofuels containing palm oil looks set to grow but behind this green push is a hidden destructive element forests in southeast asia are being cleared to make way for oil palm plantations it's also consumed by half the world's population rowsley reports from camp in sub off state malaysia sabah in east malaysia is renowned for the beauty of its natural landscape one of
its draws is the tropical rain forest dense undergrowth told majestic trees rich in plant and animal diversity. it's also a way of life for some like to hide in been jobless for generations the people from his community in central village have relied on the jungle for much of the emmy winning upon one community and many things that we use come from the forest we use raw turn to make and build things some plants are used in traditional medicine the insects too useful we take honey from the bee it has medicinal qualities. even the water they drink used to come from the forest but not since the area around it was cleared for development to harden and some villages fought against the encroachment but to no avail logging in this forest and the landslides that occurred as a result of that have affected this stream it's a trickle compared to what it used to be and the water is no longer clear but muddy
. since two thousand and thirteen much of the forest has been wiped out the trees replaced by a single crop oil palm sabah is the top palm oil producer in malaysia which in ten is the second largest exporter in the world after indonesia demand for the commodity is set to grow driven in part by the push for biofuels particularly in china and indonesia that could spell a disaster for forests as land is cleared to make way for plantations but the round table unsustainable palm oil. says alternatives to the commodity maybe even worse bottom oil has a year that is four to ten times either then or the royals so it requires four ten times less land to make the same amount of oil out of that and the digitalized so their solution is not to say let's stop palm oil let's go to something else but he's to make sure that whatever we produce is going to sustain
a movie and that's what the out of fuel comes into play the r s p o is a voluntary organization and while it sets standards on palm oil production it has not committed to zero deforestation. for the people unsettled village what they lament is the loss of the forest they say the land belonged to their ancestors and should be theirs for generations to come and that is our show for this week remember you can get in touch with us by tweeting me at as i'm seeker and use the hash tag c.t.c. when you do or drop us an e-mail counting the cost at al-jazeera dot net is our address and as always there is more for you online at c.n.n. dot com slash c two c. that will take you straight to our page which has individual sports links and entire episodes for you to catch up on so that's it for this edition of counting the cost and has a secret from the whole team here thanks for joining us the news on the edges here is next.
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