Local time on May 9
Former Pakistani Prime Minister Imran Khan has been indicted on corruption charges
Be arrested
subsequently
Protests broke out across Pakistan
Supporters of Imran Khan
The government blames each other
What is the cause of the current political turmoil in Pakistan
What is the impact
Let's look at the analysis
The current political situation in Pakistan
Out of a
Led by Shabazz
Governing coalition
And this
Former Prime Minister Imran Khan
representative
The conflict between the opposition parties is intensifying
In the course of this struggle
Well, then on a deeper level
Should be
Family politics and political parties
The two forces are at war
Imranhan in his youth
He was a former Pakistan cricketer
He captained the Pakistan cricket national team
He was born into a family of engineers
1975
Philosophy and politics from Keble College, Oxford University
And economics
In April 1996
Imran Khan
Be established
Pakistan Tehreek-e-Insaf Party and served as its chairman
Officially enter politics
Imran Khan led the Movement for Justice party in 2018
Won Pakistan's National assembly elections
Then elected prime minister
In March last year, his ruling partner defected
He was impeached and removed from office in April
For the first time in Pakistan's history
The impeached prime minister
During the impeachment investigation
Imran Khan has repeatedly spoken out
The United States interfered in Pakistan's internal affairs
Interior Minister Sanaullah Khan charged
Imran Khan and his wife
From a man accused of money laundering by the British government
Land Developers of Pakistan
Take some land
The British government would later be involved in laundering the money
Return to Pakistan
But the money did not find its way into the Treasury
It involves 240 million dollars
Mr. Khan denies the charges
China International
Problem research institute
Institute for Developing Countries
Associate researcher Li Yanqing analysis pointed out
The Chabas county government has previously denied this
Imran Khan's anti-American rhetoric
That led to his downfall
But leaked documents from the US show that
The US does enforce it on China's neighbors
influence
Force them to choose teams between China and America
The closest one is uh
The one with the You.s. Customs documents
You can see it in the leaked documents
Well, the United States is in South Asia
Some of the countries around China
Is in the family influence
Well, some reports came out that it was a bag
Including Pakistan
He's been under a lot of pressure with these
American cloth
I know. Pressure them between the US and China
Between China and the United States
Select team
China is never asking Baristen to say
You have to be between China and America
Well, which side to take
The selection team did not
So if this is what the United States does
Then I think he might be
To match his hardball strategy
And uh what he called
To reshape China's neighborhood
So to the countries around China
May exert some influence
This includes South and Southeast Asian countries
May face some of these pressures
Al Jazeera thinks
The pandemic and the return of dollars to the United States
Resulting in a severe shortage of foreign exchange in Pakistan
Amplifying pressures such as inflation
Is the main cause of instability in the country
International Monetary Fund
Talks were held with Pakistan's Ministry of Finance
Up to $1.1 billion in relief funds could be provided
But because of the IMF
Ask Pakistan
We will raise the prices of fuel, food and other livelihood goods
The Pakistani government fears this will spark protests
And refuse in addition
For decades
Pakistani authorities
Has been unable to establish effective tax collection
Only 1% of Pakistanis currently pay taxes
The country is the global tax rate to GDP ratio
One of the lowest
Pakistan is in political turmoil
It must be bad for his country
Security, stability and economic development
So China must be hoping for Bassey
The political situation is stable as soon as possible
And then it goes on to focus on economic development
So the China-Pakistan Economic corridor will be smooth
There are advantages to pushing
We see this recent one, this high imitation, this
Well, it's a mutual agreement
Including under the China-Pakistan Economic Corridor project
It's gonna be included in this what? Clean energy
It's technology
And so on, we need to strengthen cooperation
After a series of bank explosions
The U.S. economy is on alert again
9 local time
Members of the United States Congress and
President Biden on the US debt ceiling
There were tense negotiations
The two sides ended up blaming each other
Endangering the end of the United States
The only consensus was to talk in three days
But for now
Giving the U.S. government time to avoid defaulting on its debt
Less than
The United States has been through this crisis several times in the past three weeks
Whether the US government will survive this time
If the U.S. government defaults
What would be the disaster for the global economy
Take a look at the report
Biden the afternoon of the 9th
Met with House Speaker Kevin McCarthy
And caucus leaders in both chambers
To ensure that the government can borrow more
To cover the expenses already spent
After the meeting, Biden described the meeting as productive
He pointed to the debt ceiling
Is the only important item on his current agenda
To solve this problem
He did not rule out cancellation later this month
A trip to Japan for the G7 summit
McCarthy complained to reporters
Mr. Biden launched the negotiations with little time left
Accusing him of not having a plan
everybody in this meeting
reiterated the positions they were at
i didn't see any new movement
the president said the staff should get back together
but i was very clear with the president
we have now just two weeks to go
A White House spokesman said earlier
A short-term extension of the debt ceiling is not the White House's plan
The Biden administration is focused on removing the threat of default
The spokesman reiterated
The question of default has no commercial right
And keep up the pressure on Congress
According to the Wall Street Journal
The administration is already considering circumventing Congress
Self-issue bond
the president has been clear since February
since February
he has said
over and over again we cannot be a country that defaults
and most recently
he has said we cannot be a deadbeat nation
something that we have
never done before
and so they need to take action congress has to do their job
The demands of the two sides in this negotiation are clearly divergent
Republicans like McCarthy insist
To raise the debt ceiling
It is the federal government that must cut spending
The U.S. House of Representatives narrowly won at the end of April
Passed a bill sponsored by Republicans
They asked White House to estimate federal spending for the next 10 years
By $4.5 trillion
And eliminating some clean energy tax breaks
On this premise
Congress will approve an increase in the debt ceiling
By $1.5 trillion
The White House is dominated by Democrats
This proposal is clearly unacceptable
Biden thinks
It should be subject to no conditions attached
Raise the debt ceiling
Both parties are putting on this big political show
Could be a prelude to next year's election
They are at this time
To uphold the important principles of their party
One is the Democratic Party
Hope to be able to provide more people's services
But he wasn't
Well, fiscal discipline is so clear
The other is the Republican Party
He believes in fiscal discipline
Stay in one
Appropriate size
Instead of expanding it all the time
So these two ideas
Now we're actually fighting ahead of schedule
The US debt is really just a fake issue
Because it could theoretically happen
But it's not going to happen
Even if it happens
And there's no one to deal with the consequences
The idea of the so-called debt ceiling was created in 1917
To prevent the U.S. government from overissuing debt
And dump the debt on the next government
Congress and the administration reached an agreement
Specify the limit on the amount of debt the government can issue
If you hit this upper limit
That means the U.S. Treasury has exhausted its borrowing authority
Yet since the agreement was reached
The U.S. government's debt pile continues to grow
Has breached the debt ceiling more than 110 times
1960-present
Congress has amended the debt ceiling 78 times
Increase the ceiling amount
The current ceiling
That's 120% of the gross national product of the United States
In January this year
The U.S. government has achieved what it set out to do
The $31.4 trillion debt ceiling
Since then, the Treasury has been run by Ms Yellen
A series of extraordinary measures were taken
Keep your debt under the limit
But Republicans have seized control of the willingness to spend money
Ms Yellen's follow-up measures could not move forward
Ka recently said
In the United States, it could be as early as June 1
The government defaulted on its debt
It would undermine the credibility of the United States government
its congress's job to do this if they fail to do it
we will have an economic and financial catastrophe
that will be of our own making
If the union pie is this big
He couldn't pay for what he had to do
And inside this big cake
You're going to have to pay more and more interest
So he's going to have to pay interest
These other costs are not enough
So his budget deficit will gradually increase
That is to say
There is no solution to the current US debt problem
This is a U.S. Treasury
A rapidly deteriorating unsolvable problem
So far
When the two parties are performing
No one is really talking about the ultimate solution
Reuters quoted officials involved in the talks as saying
Because American politics is so polarized
The stakes are greater than ever
Based on past experience
Both parties often leave it until the last minute
Under multiple pressures
Some compromise was reached only after the stakes were weighed repeatedly
It's just that the game is going to be particularly ugly
Some analysts expect
Debt ceiling crisis
Superimposed aggressive rate hikes by the Federal Reserve
The US economy is at serious risk of recession
And if the debt ceiling talks drag on to the deadline
The US economy may shrink by 0.3 per cent
The market's fears are straightforward
Every winter time 9 three major index collective closed down
What about the global financial structure
It's tied to the Federal Reserve
So every time the Fed issues Treasuries
About two-thirds of them are international
When anything goes wrong with the US debt
The Fed will quickly create new mechanisms
Would stabilize the world against the dollar
Is the core of the financial system
But if he explodes
American company
The federal government could be in trouble
Certainly the credit-based dollar system
It will be questioned by everyone