they've made sophisticated engineered tunnels that go all the way to egypt they going to israel or not, so there the zionist regime is fighting sophisticated army that don't have stones anymore in their hands, they have rockets, they have military, they have a military strategy, and not just on the gaza border, but also on the northern border, they're facing they're facing hizbullah and of when the resistance forces have their red lines as this war will expand as of now the resistance forces have analyzed that the war hasn't expanded to the extent that the resistance forces have to military intervene and let's not forget that hammas has admitted this that the one country the one power that is the source of inspiration and support for all resistance forces is the islamic republic

of iran, has always, yes i had me to cut you up, but time has gotten the better, want to thank you both for showing up and joining us for this long and this extended conversation with respect to atrocities committed against gosons, mostly there joining us from houston texas and robert fantina joining us out of kitchen ontario, and viewers that brings this exciting conversation to a close here on press tv, stay tuned and bye-bye for now. this is gaza has continued unabated with palestinian body count increasing by the day, genocidal taking place in front of the eyes of the world, but palestinians in the gaza strip are not the only ones that are being damaged by this, the israel economy is also getting decimated, while the israeli prime minister benjamin netanyahu blindly orders the israeli regime to murder palestinians. of

hi, i'm kavid tavway, welcome to economic divide. coming up in today's program, israel's economy, minus 11% gdp drop as a result of the war. cannot sustain a long war, is what it's been analyzed on that. will the us come to the rescue in the form of bailout? only time will tell. then the forced displacements of palestinians. israel has plans to uproot them to either egypt or jordan or both. force displacement, mind you, is against international law. will the us go ahead with those plans along with israel? and then we will take a look at what west asian countries can do when it comes to this war, to stop trade with israel, boycott israel, in essence and israeli products, iran has proposed to stop oil exports to israel.

israel's aggression on the gaza strip has devastated the coastal enclave killing thousands of palestinians. the war has also in taken a heavy toll on the regimes economy. according to a report by jp morgan chase. israel's economy may shrink 11% an annualized basis in the last three months of the year. the israeli finance minister has said that the regime's 2023 24 budget is no longer relevant given the gaza war and would be amended. smotrich has put the direct cost of the war at around 1 billion checkles or $246 million a day to israel. there are reports that the current war has had much larger impact on the so-called domestic security and confidence. israel's local currency, the sheckle has reached a 14 year low, while the benchmark stock index is down about 10%. this

year, the tech industry, the engine of israel's economic growth started bleeding even before the war began. the central bank has airmarked $30 billion dollars to show up the sheckle, but that figure may rise as the war drags on. some anals believe the us may come to rescue israel's economy if the crisis deteriorates. time to see what's happening online when it comes to the israeli war on gaza. first up, we take a look at twitter known as formerly known as twitter, now known as it says us based uh at signed the ccr warns of israel's unfolding crime of genocide of the palestinians. the #bds movement calls on states and institutions to divest from israel and all companies complicit in the crimes. what are you waiting for? it asks. next up a website says risk of a wider uh middle east war threatens a fragile world economy. after shocks from the pandemic and russia's invasion of ukraine. there's little cushion if the fighting between hamas and israel. says the recession is almost certain

of as leaders warn of a long war, a recession is almost guaranteed, this according to a top economists and its prediction, the israeli prime minister netanyahu warned of a long war with hamas, spacing it on that, it appears. then israels war could lead to economic chaos for countries like egypt, lebanon and jordan, and even cause governments to collapse, based on experts warning, each of the three countries is up against differing economic pressures that led the international monetary fund to warn in a september report that they could lose their socio-political stability. now that warning came shortly before um the operation that hamas executed by the name of alaska flood. this obviously could trigger a war that could easily cause economic chaos that president joe biden and the european union would likely need to address. well,

it's not much of address so far that can't even uh call for a sizefire make that happen. and finally israels conflict may cask the global economy $2 trillion dollars. earns and young has said that. the company's chief economist. is warning of severe consequences if hostilities escalate. all right, those are some of the online posts that we picked. by the way, we don't call uh russia, invading uh ukraine, just one of the things there, and also uh we don't call uh the way that uh this uh particular entry that we read in terms of hamas, that it was an actual war that it waged. it was an execution of a plan uh based on the type of siege and um occupation that israel has had on the gaza. all right, uh, let's introduce our guests for our first segment of the q&a. um, we have a special guest in a sense, former chief spokesperson of onrwa, chris guunnis who joins us. chris gunnis, welcome to economic divide. i'm tempted to ask you a real economic question here, but i feel your capacity as a former

chief spokesperson of annarwa, perhaps is best to uh, speak broadly in in terms of the economic terms, i mean israel's economy obviously is taking a beating because of this war and uh cannot sustain this war based on many accounts, especially the prime minister netanyahu saying that it's going to be long and drawn out. uh, what do you think about the way that israel is going to be able to come out of this or not, based on uh the way things are proceeding right now? can i begin by saying that wars are bad for economies, full stop, when governments start spending money on wars, they have less money for people, and that is why that everything must be done to avoid this spilling out and becoming a wider war, because it will... everybody in the region, not just israelis, not just palestinians, but yes, to answer your question, it seems clear that the americans and others who support israel, but particularly the americans, have given israel pretty much a green light, there have been calls for respect for international

humanitarian law, but essentially israel has been given a green light to destroy hamas in the words of the israeli prime minister, now we can have a conv about whether that's possible, i think it's very difficult, um, but there's no doubt that american economic aid to israel will continue, i think that if america had to choose between supporting ukraine and supporting israel in terms of financing the war effort, i think they would choose israel, and i think that it would be foolish for anyone to assume that because the war is expensive and it's costing hundreds of millions every day, um, it would be foolish. to assume that the war somehow is going to grind to a halt because israel is finding it too expensive, i think that the money will be found from israel's allies, particularly the united states. all right, thank you very much for that, and it's too bad that israel doesn't think of spending this uh money,

let's say for the palestinians in an effort to at least try to, well forget it, i'm not going to get into that conversation right now, it's too long and drawn out, let's uh now uh go to our second guest here, we have john phoenix joining us, john phoenix org.uk. johnenix, welcome to the program. all right, let's see what we got over here. you have israel that is based on the several accounts and news outlets, that it wants to forcibly displace palestinians from the ghaza strip, basically to put them um like objects into egypt, from the ghaza strip, and then from the occupied territories to jordan. some news adlits are saying that. now, aside from the... fact that forceable displacement is obviously against international law, doesn't this risk inflaming the region already the pushback is there from uh persian gulf arab countries? well look, this is not a new project, this is project actually is a plan

by professor dunan, the plan was actually published in 1980, the dinan title his surge the israeli policy in the 80s, one of the plans to remove the palestinians, especially gaza, i mean 1950 the... american secretary of state rugers actually offer egypt to to to transfer the local population in gaza to sinai and was rejected by the palestinians. time now for the informa section of the program. first up we're going to take a look at how ties are going between china and colombia is. the development there, china is moving a close us partner, and as a result,

it's working. now this centry said colombia has upgraded his ties with beijing, that's a new sign that latin america is just basically tired of washington gatekeeping its developments. furthermore, it has said china has established over 100 strategic partnerships of the world since the end of the cold war, so that shows the track diplomatic one that china is on. next up, dedollarization is: in motion, in this case and points we are looking at thailand, whose central bank has proposed dropping dollars in its trade, the regulator has called for the use of local currencies to mitigate the us currencies volatility, then uh this entry was very important, it's about a company by the name of mysk or mersk, it's a shipping company, and it has cut jobs, basically it cut 10,000 jobs and the reason, well logically shipping demand has fallen, uh this is one of the world's biggest shipping firms and uh it's is cutting 3500 more jobs due to

lower freight rates and also demand and it had cut 6500 rolls earlier this year this year which uh hence is why that 1000 uh figure uh is what was mentioned earlier now this is our take when a large shipping firm cuts jobs that means that the global economy has actually slowed since there aren't as many products that need to be transported and further more 2023 growth is projected to be 2.7% by the year's end and only 3% for the year 2024. this show shows the trajectory that we are on and if that will is going to be the case, that's the slowest annual rate since the 208 global recession. that kind of puts things into perspective. and then finally we take a look at americans and uh their spending uh capacity in the us, higher interest rates are actually forced. americans to cut back, they are feeling the pinch of high interest rates naturally, and that has

forced them to hold off purchases of things like homes, cars and even groceries. those were the items we picked for our section here by the name of infonews. if you have any suggestions uh from wherever you are in whatever part of the world, please do send them to us. contact information is coming up. the war on gaza by israel continues to take lives. there's no doubt about israel's bombing campaign, but why so severe that is decimating of the territory to near annihilation? well, one of the hidden reasons behind this war, maybe about what you see over here, if you take a look at this, this is what's called the gaza marine, the license boundary off the coast of the gaza strip right here, okay? it's. gas fields of palestine of the gaza stret, that is the focus of our indepth section, so let's get

going, first let's take a look a map that's coming up right now, showing the different gas and oil fields that exists off the coast of palestine, these are three of them, as you're seeing, one is the leviathan, one is the tamar, dalete, i'm sorry, not three, but four of them, and then the mari b, okay, the properties, include 122 trillion cubic of feet of gas that it contains, that's a lot, and the value is estimated to be about $524 billion dollars. of particular interest for us is uh this area right here, that's the gaza strip, and here you see the um gas fields that exist off the coast of gaza and the gaza strep. now that may be a little too small for you to see there, right? so why don't we just take a look at that a closer. so let's take a look at the uh next graph, so here you have it, there's palestine, there's

the ghaza strip, and here are those two gas fields that i talked about marib field, and you can see the uh, i guess angle of where this is the gaza strip and where the gas fields are at, the mar field, now the value of this particular area which is the marib field, the i guess proportion or the... calculation, so let's go to the next graph in order for me to tell you why that is. you see, these gas fields, even though they say that they have been uh explored, is not really uh that black and white, you see when it comes to the gaza strip, it's called the gaza marine, the gas field is in this area right here, but when you take a look at the boundary, this could go all the way through

here, mean this is the boundary that they have right, but it could be all the way out uh going towards the north. and then maybe the areas adjacent to it with the red arrows pointing, there could also be - fields that maybe a bleed over, see all of this would contain gas and this is again not a science because they haven't been explored in depth and to the fullest, all right, so that kind of gives you an idea that there's a lot more perhaps perhaps to the gas field that uh belongs to the gaza strip to palestine as a whole. now let's uh... take a look at the next graph that we have for you uh this particular graph over here gives you a breakdown in terms of the shares uh which uh needs to be obviously put into perspective here and you're looking at the palestinian stake which would be 55% as you see over here and then when it comes to other companies that are going to be doing the uh exploration 45%. in terms of the annual income that this

is going to give for palestine and its economy not bad 500 700 to 800 million per year, that's definitely not bad, something that palestine is not making, and then in terms of the income, the estimates that is given is $7 to8 billion dollars, this would happen over the course of 10 years, all right, so um, needless to say, this is something that would come in very handy for palestine and its economy, that is if israel allows that to happen. next graph, here's a part that guess very interesting, gas exploration contracts were given out 12 licenses. is recently, these are the companies that were involved here, um, they were uh, obviously for the purpose of exploring natural gas, uh, italian company annie, the korean subsidiary, dana petroleum, the united kingdom's british petroleum bp, as well as israel's ratio, just some of the companies, now why is this interesting, because the announcement date was october 30th of this year, okay, the war broke out on

the seventh, during the war, you have israel make announcement that 12 licenses were given out to these companies and one of them of course you see is uh bp. don't you find that to be interesting or is that a coincidence? by that, i mean, would that be a driving force, perhaps in some way, behind the way that the gaza strip is being annihilated uh, in terms of what israel is doing. all right, let's go to the next graph over here, here's another point that's very interesting, back in 2022, there was an mou that was signed, israel would export gas to egypt and to the eu. okay, now that makes it interesting in terms of the eu part of it, why? because we all know what is happening when it comes to the extreme gas shortage that the eu has, so we do fact check, you have energy that comes from israel, that's going to egypt and then the eu. keep in mind now, this is energy that

is stolen from palestinians with the help of the us and the uk, because that's palestinian land of which the... gas fields that i showed you exist out there, and these land, this is the land that belongs to palestinians okay, so those are the types of things that needs to be taken into consideration when it comes to this whole thing uh regarding uh energy and gas, which um palestine needs to get is share. all right, let's uh bring back our guests and see what they think about uh this and more uh we have uh chris guunnis rejoining us, he's the former chief spokesperson. for anrwa. christus, welcome back economic divide. uh, i'd like to actually go into the uh area of uh arab countries in this region, which uh, is something that they could have done in terms of a firmer stance when it came to israel and the war that is waging. um, aside from the political side of things, how about trade? i mean, they can stop doing trade with it,

don't you think, um, and stand up and behind their word uh that they will do something. when it comes to israel, do you think that there's a will to do that? i think the position of arab nations in the region varies. i think that there are some who under american pressure may feel that they have to continue to sign up to peace israel, and there are some who are likely to take a more principled and hardlined position. just to be clear what's at stake. the basis of peace in the middle east for a long time has been. what's called land for peace, and it's the idea that's behind the arab peace plan of 2002, and that's the idea that in return for peace with its arab neighbors, israel would have to give up palestine. land would have to give back the land it is occupying. all right, let's now hear from john phoenix, he's the founder of shaa.org.uk who rejoins us.

john phoenix, welcome back. you know, you take a look at what uh, israel is doing to the gaza strip. it's uh really shocking, but in order for this war to stop, which as a recording on this program, it's still going on, arab countries has said they can do lot more. now, they haven't stepped in uh to prevent. the continuation of this war, but maybe they can do things uh that uh could hurt israel financially um such as trade, stop their trade or maybe um some kind of embargo on uh israel, do you think that there is a will from arab nations to do that? well we had to draw a line between the arab nation or the arab regimes, you know, the people of the arab world they all in support of the... that is no question, you know, the brush by the so far now, the nearly 30 days of killing genocide of the palestinians, their

population now pressing them to speak out, and that's why if you notice after nearly 28 days, the so-called arab league decided to meet and discuss the matter, not because they wanted really to discuss, i assume that the even the israelis discus. this before the attacking casa with the arab regimes, so the arab regime will move and they will boycot, they will stop trading with the zianist entity because of the the street in the in the middle east, apart from the ramification the war for israel's. economy, there are now concerns that the crisis could have wider regional and even global implications in terms of economy and security. oil has been particularly volatile and it concerns that escalation could restrict a supply from the

energy rich region. oil prices have surged after israel said its troops were expanding the ground operation. if the conflict gets regional, oil prices could sort to $150 a barrel and global growth to drop to $1.7%, a recession that takes about $1 trillion dollars off world output. this. may result in firms and households becoming less confident and more uncertain about the future and damping growth further. there are also reports that israel is planning to make the gaza strip totally uninhabitable and for the residents there to flee to egypt. furthermore, israel's constant raids the west bank is threatening to clean that region of palestinians. the crisis there has deteriorated the economic situation even worse than before. the occupied west bank was a financial crisis well before the recent

events as a result of israel's occupation and heavy restrictions on movement. the un estimated in 2019 that the israeli occupation cost the palestinian economy some $47.7 million dollars in fiscal revenues between the year 2000 and 2017. hello and welcome to the quick take section. i'm mattiapolis. israel's war on the gaza strip and the continuation of this war has had some collateral damage for the israelis. the israel-turkey gas pipeline, which was suspended by turkey for now, and the imec project, first, the joint israel-turkey gas project. turkey and israel had plans to conduct joint energy drilling operations in the eastern mediterranean to transport gas to europe through turkey. israel is prioritizing

gas exports to the european union following russia's loss of influence in the eu market, but now this project has fallen apart, postponed indefinitely. why is israel so keen on having gas exports to other countries anyways? the immediate answer is natural one. israel wants to generate income, even though israel's claims to the gas and the fields themselves are still under dispute, but the other reason may not be that obvious and it is about israel's security. now to the second project which has been derailed to the gaza war, and that is the imec, the india, middle east, europe economic corridor, at the sidelines of the g20 summit held in new delhi in september. number 2023 and mou was signed to develop rail and shipping corridor. the us saw the imec project as a tool to normalize

relations between israel and saudi arabia. but since the outbreak of the war and the genocidal war of israel against palestinians, saudi arabia announced that the normalization plans with israel are now on hold. that does it for this section of the program. thanks for giving us your time. please send us any messages and feedback. contact info is coming up. i'm mattiasian and i'll see you next week. 31 days of.... gaza, which is the day the recording of this program, israel has had to invest over $50 billion dollars for this war, it's economic loss in terms of gdp, double digits, 11 to 12%, and it has lost major economic agreements, which we mentioned earlier, by the time it decides to stop this war, there may be nothing left of the israeli economy to come back to. has israel calculated the economic impact that this war will have its economy, or will it's big

brother the us come and rescue? it as we mentioned in the program. that does for this edition of the program. thank you so much. by the way, we are only going to be covering the israeli gaza war and the economic implications uh for the next few weeks until this war perhaps ends. so uh, tell us what you think about that, because we figured this an important uh event that's happening. uh, contact information is behind me. hope you enjoyed the program, we look forward to seeing you next week. and the tire team at the economic divide, is goodbye. crisis, devastating wars. terrorism, the

israeli lobby, crackdown, diplomacy, hospitals turning to graveyards, make sure to join the show through facebook, twitter, only on press tv. you press tv headlines, there is no end inside to deadly israely attacks in gazo strip and occupied westbank regime still pounding.