Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Oct 14, 2021 • A supply chain crisis is threatening to derail the world's economic recovery from the pandemic. New smartphones, toys, clothes, and even Christmas turkeys are among many items failing to reach consumers.
Container ports in the US and Europe are working at full capacity. Manufacturing hubs in China have slowed down output because of power shortages and high commodity prices.
So, what are the solutions?
Presenter: Imran Khan | Guests: Jas Kalra - Assistant Professor in Supply Chain Management, Newcastle University Business School; Dan Wang - Chief Economist, Hang Seng Bank China; Stavros Karamperidis - Lecturer in Maritime Economics, University of Plymouth
In just over a decade, Bitcoin has turned from an idea into one of the most talked-about financial assets.
El Salvador's president is planning to make his country the first to accept Bitcoin as legal tender. But as some countries embrace cryptocurrencies, others are cracking down because of its use by criminal gangs.
So, what does the future hold for digital money?
Presenter: Sohail Rahman; Guests: Thibault Schrepel - Assistant Professor in Economic Law, Utrecht University; Delaram Kahrobaei - Chair of Cyber Security in the Department of Computer Science, University of York; John Biggs - Journalist and entrepreneur
For the first time ever, America's oldest bank, BNY Mellon says it's planning to offer some cryptocurrency services.
That's good news for digital currencies like Bitocoin - which has been soaring to all time-highs.
While investing in it can be a rollercoaster ride that comes with many risks, that hasn't stopped the Chief Executive of Tesla, Elon Musk, from purchasing a $1.5 billion stake in it. Tesla is also now expected to accept the virtual money as a form of payment.
That and BNY Mellon's decision to allow cryptocurrencies in its services, has seen a boost for digital assets.
The coronavirus pandemic means we are facing our worst ever recession.
When times are tough, investors tend to put their money into so-called 'safe haven' assets such as gold.
The gold price hit a record high of $2,060 an ounce a couple of weeks ago, a 30 percent rise this year.
Could the rush affect the chances of economic recovery from the coronavirus pandemic?
Presenter: Imran Khan | Guests: Christian Lawrence - Senior Market Strategist at Rabobank; Michael Hewson - Chief Market Analyst at the financial firm CMC Markets; Arun Kumar - Professor of economics at the Institute of Social Sciences
Stock markets around the world have had a turbulent week with some of the worst losses in over 30 years. It's the world's biggest health emergency. The coronavirus outbreak is now a pandemic, and there are fears it can lead to a catastrophic global economic crisis.
Sweeping containment measures have disrupted markets around the world - including in the US. A travel ban on 26 European countries came into effect on Friday and the unprecedented move sent stocks crashing to their worst losses in over 30 years.
On Wall Street, the Dow Jones Industrial Average sank 10 percent on Thursday -- its biggest plunge since the Black Monday crash of 1987. While European markets showed some signs of recovery on Friday. So, what's the economic fallout?
Presenter: James Bays | Guests: Pedro Da Costa - Senior Reporter at Market News International; Hosuk Lee-Makiyama - Director of the European Centre for International Political Economy; Gareth Leather - Senior Economist who specialises in Asian and emerging markets at the firm Capital Economics
Saudi Arabia's crown jewel and the world's largest oil producing firm, Aramco, is now set to go public after several delays.
The initial public offering, or IPO, will be on the Saudi stock exchange. How much of the company's for sale and at what price, will be determined later.
Part of the Crown Prince's economic plans for the kingdom, the flotation aims to raise billions of dollars. But estimates of how much it might actually draw, vary widely. Mohammed Bin Salman wants a $2 trillion price tag, many bankers put it at $1.5 trillion.
But can ARAMCO's IPO satisfy his ambitions? And what, if any, are the risks?
Presenter: Dareen Abu Ghaida | Guests: Mohammed Cherkaoui, author and senior fellow at Al Jazeera Centre for Studies; Jeff Colgan, associate professor at Brown University and author of 'Petro-Aggression: When Oil Causes War'; Joseph Kechichian, senior fellow at King Faisal Center for Research and Islamic studies
The disappearance of Saudi journalist Jamal Khashoggi is hitting the Saudi economy. Stocks plunged almost 7 percent in early trading on Sunday, wiping out all the gains it had made since the start of the year. The fall comes a day after US President Donald Trump threatened 'severe punishment' if Saudi Arabia was found to be responsible for Khashoggi’s disappearance, but Riyadh warned it would retaliate if economic sanctions are imposed on it.
As pressure mounts on Saudi Arabia, several US media organisations and business leaders have pulled out of a major investment conference in Riyadh. What was dubbed "Davos in the desert" is supposed to promote Saudi Crown Prince Mohammed bin Salman's reform vision for the Kingdom. So, where does that leave all his plans?
Presenter: Imran Khan | Guests Khalid Al Khater, economist and researcher at the Institute for New Economic Thinking at the University of Cambridge; Naeem Aslam, Chief market analyst at ThinkMarkets; Imad Harb, Director of Research and Analysis at the Arab Center Washington DC
Brexit has been at the forefront of British politics since the country voted in a referendum for a divorce from the European Union in June 2016.
It’s now crunch time for Prime Minister Theresa May. She's travelling to Salzburg this week to try to reach a breakthrough with EU leaders; but many have already pushed back her 'Chequers Plan' - Brussel's chief negotiator Michel Barnier saying it would spell the end of the EU project.
And just six months ahead of the deadline for a Brexit, the head of the International Monetary Fund Christine Lagarde has issued a stark warning.
So, what happens if no deal is reached?
Presenter: Hoda Abdelhamid | Guests: Jonathan Lis, deputy director of the think tank British Influence; Helen Thomas, CEO and Founder of macroeconomic consultancy BlondeMoney; Geraint Johnes, economist at Lancaster University
Saudi Arabia has reportedly delayed its plans to list shares of its state-owned oil company Aramco on the stock market.
Media reports say the initial public offering has been postponed indefinitely. But the Saudi government has disputed this. Energy Minister Khalid al-Falih says the government is committed to conducting the IPO, at the 'appropriate circumstances and time'.
The plan to float around five percent of the oil company was expected to be the world's largest stock sale; and it lies at the heart of Crown Prince Mohammed Bin Salman's vision to transform the economy.
So, where does this leave Saudi Arabia's efforts to raise money and diversify its economy?
Presenter: Richelle Carey | Guests: Mahjoub Zweiri - Professor in Contemporary History of the Middle East at Qatar University; Mohammed Cherkaoui - Professor of Conflict Resolution at George Mason University; James Dorsey - Senior Fellow at the S. Rajaratnam School of International Studies at Nanyang Technological University
Inflation has skyrocketed, prices are at an all-time high and the national currency, the Bolivar, has lost much of its value, The financial devastation has led to mass migration, starvation and political unrest.
President Nicolás Maduro blames it on what he calls an “economic war” against his country. His critics say widespread corruption and the government's mismanagement are responsible.
In an attempt to solve the problem, the government has introduced a plan to curb hyperinflation. There's a new currency, the 'SOVEREIGN BOLIVAR', which will remove five zeroes from banknotes. It's backed by a crypto-currency, the Petro, that's pegged to the price of oil. The government is also raising the minimum wage by 3000 percent, raising taxes and increasing petrol prices for some drivers.
How are Venezuelans reacting to the new measures?
Presenter: Mohammed Jamjoom | Guests: Paul Dobson, journalist; Sonia Schott, Latin America analyst; Charles Shapiro, Former US Ambassador to Venezuela
Last week it was Europe; this week, China. Step-by-step, US President Donald Trump's tariffs on steel and aluminium are taking effect and the world, in turn, is responding. In addition to the EU and, now China, countries as far afield as Canada and India have also slapped tariffs on American goods in retaliation for the Trump administration's levies on imported steel and aluminium.
The Trump administration has responded by threatening even more levies on foreign goods entering the US. But the fight between Washington and a growing list of countries is not just about trade. At last month's G7 summit in Canada, Trump was at odds with most of his country's closest allies. Many of the same tensions seem likely to cloud next week's NATO summit in Brussels.
In all these debates, President Trump talks about "winning" and what he calls "better deals." But it often seems like his real target is the web of international institutions and alliances that have evolved in the decades since the end of the Second World War - often at the behest of America itself.
So, can the global system of rules-based institutions survive Trump's efforts to undermine them?
Presenter: Adrian Finighan | Guests: Scott Lucas - Professor of International Politics, University of Birmingham (UK); Philippe Legrain - Former Economic Adviser to the president of the European Commission; Pauline Loong - Managing Director, Asia-Analytica
Donald Trump's nuclear reaction is threatening to turn off the taps of the world's major oil supply. The White House is threatening countries which import Iranian oil to stop shipments by November - or face U.S. sanctions.
If that happens - the Iranians are vowing to stop all oil exports from the Gulf, including from the number one supplier Saudi Arabia.
Foreign ministers from France, Germany, Britain, China and Russia are expected to meet Iranian diplomats on Friday.
In Vienna, they'll be discussing how to salvage the 2015 Iran nuclear deal which Trump withdrew from two months ago.
Presenter: Adrian Finighan | Guests: Mamdouh Salameh - Author: 'Over a Barrel' and oil & energy expert; Hamed Mousavi - Professor of Political Science, University of Tehran; Sami Hamdi - Editor, International Interest magazine
Oil production, prices and politics require a delicate balance. Donald Trump is urging oil-producing countries except Iran to boost output. He hopes that will keep prices low - and motorists happy with cheaper fuel - as he tries to force the Iranians out of the market.
Trump's pressuring allies to stop buying Iranian oil as a tactic to make Iranian leaders negotiate a new nuclear deal, after he pulled out of the 2015 agreement two months ago. Iran says it will find ways to export its oil, despite what he does.
So how much support can Trump garner for his economic assault against Iran?
Presenter: Elizabeth Puranam | Guests: Mohammad Marandi - University of Tehran; Scott Lucas - University of Birmingham; Anjli Raval - Oil & Gas Correspondent, Financial Times
The latest shots in a looming trade war were fired on Friday as the European Union imposed $3.3bn in tariffs on US goods. It's a direct response to recently-imposed US tariffs on imported steel and aluminium from the EU, Canada and Mexico.
In making up their own list of products to tax, EU leaders sought to make a point to US President Donald Trump and his supporters that protectionism carries a price.
Among the items now subject to high taxes when entering the EU: bourbon whiskey from Kentucky, the home state of US Senate Republican leader Mitch McConnell. Harley Davidson motorcycles and artisan cheese, both of which are produced in Wisconsin, the home state of Republican House speaker Paul Ryan. And orange juice - one of the most important crops in Florida: a swing state whose Republican governor, Rick Scott, is in a tight race for a Senate seat.
Nor is the EU alone. Canada, China and India have all announced sweeping tariffs on US goods in response to Trump's steel and aluminium levies. So, where does this leave the international system of rules and treaties that has promoted global trade since the end of World War II?
Presenter: Martine Dennis | Guests: Steven Rogers - A member of the Donald J. Trump for President Advisory Board; Deborah Elms - Executive Director, Asian Trade Centre; Sam Lowe - International Trade Expert at the Centre for European Reform
The last ten years saw a marked improvement in trade between the United States and China. But Trump’s battle of the tariffs is threatening that. And there are fears of an all-out trade war. The U.S. is putting tariffs on 50 billion dollars’ worth of Chinese imports. The president says he wants a fairer trade with China.
But Beijing has fired back with a tit-for-tat response. It has published a list of more than 600 American products it plans to hit with its own taxes.
Is it a case of who blinks first in this economic brinkmanship? And what will it mean for global trade?
Presenter: Elizabeth Puranam | Guests Philippe LeGrain, Political Economist and Former Special Adviser to the Director-General of the World Trade Organization; Einar Tangen, China Political Analyst who advises the Chinese government on economic and development issues; Scott Lucas, Professor of American Politics at the University of Birmingham
Jordan has always been seen as an oasis of peace and stability in a volatile region. But it is a country of limited resources and increasingly in debt. Conflicts in neighbouring Iraq and Syria have dampened trade and it is had to absorb hundreds of thousands of refugees.
Budget cuts and tax hike plans have led to mass protests, toppling the prime minister. Gulf countries worried about another Arab Spring uprising have stepped in with $2.5bn in aid. And the European Union, whose foreign policy chief was in Amman on Sunday, has thrown in $23m.
What is at stake in a country of huge geopolitical significance?
Presenter: Hashem Ahelbarra | Guests: Jawad Al-Anani - Chairman of the Amman Stock Exchange and a former Jordanian Minister of Foreign Affairs; Ibrahim Fraihat - Associate Professor of Conflict Resolution & Humanitarian Studies at the Doha Institute for Graduate Studies; James Moran - Senior Research Fellow at the Centre for European Policy Studies who served as the EU Ambassador to Jordan and Yemen
The leaders of seven of the world's biggest economies are in Canada for what could be the most acrimonious G7 summit in years.
Donald Trump’s tariffs on steel and aluminium imports have caused outrage and a war of words with other world leaders.
The U.S. president also finds himself virtually isolated on the Iran nuclear deal and climate change. A showdown seems imminent. So are we closer to a trade war that could derail the global economy? And will America First leave America Behind?
Presenter: Elizabeth Puranam | Guests: Colin Robertson, former Canadian diplomat and Vice President of the Canadian Global Affairs Institute; Inderjeet Parmar, Department of International Politics at City, University of London; Seijiro Takeshita, Dean at the School of Management and Information at the University of Shizuoka
Hundreds of Jordanians have spent the past few days voicing their anger at proposed tax increases - and what they say is the already intolerably high cost of living. They accuse the government of covering up failed economic policies and demand the resignation of Prime Minister Hani Al-Mulki.
Jordan's economy has struggled in recent years because of the conflicts in neighbouring Syria and Iraq, and a shortfall in foreign aid. Can a compromise be reached to avert a full-blown crisis? And what role are regional powers playing in the crisis?
Presenter: Folly Bah Thibault | Guests: Lamis Andoni – Journalist; Rami Khouri - Professor, American University of Beirut; Ibrahim Fraihat - Associate Professor in conflict resolution, Doha Institute for Graduate Studies
A very unusual coalition government has come to power in Italy. Leaders of the anti-establishment Five Star Movement and the right-wing, anti-immigration League party have been sworn into office. They want to revive Italy's sluggish economy by rejecting austerity and increasing spending.
The European Union is worried by the proposals and Italy's large debt. So what will the government, led by law professor Giuseppe Conte, mean for Italy and the rest of Europe?
Presenter: Folly Bah Thibault | Guests: Federigo Argentieri - Professor of Political Science; John Cabot University in Rome Daniel Gros - Director, Centre for European Policy Studies; Nathalie Tocci - Special Adviser to EU's Foreign Policy Chief, Federica Mogherini
Politicians and business leaders have reacted angrily to President Donald Trump's decision to impose stinging tariffs on imports of steel and aluminium.
The European Union is taking legal action at the World Trade Organization. And Canada and Mexico – two of the biggest sources of aluminium and steel for the US – will now impose their own charges on American goods.
Trump's decision has been described as "illegal" and "unacceptable." Is this the beginning of the end of the global trade order?
Presenter: Hashem Ahelbarra | Guests: Philippe Legrain - former adviser to the Director-General of the World Trade Organization; Joe Watkins - Republican strategist and former White House Aide to President George H W Bush; Maurizio Zanardi - International Economist at Lancaster University, UK