Transcripts For RT Boom Bust 20240714

Analysts fans want to standing by to help us dig into the point of prosody show today lets go and dive right in. China and russia continue to strengthen their ties at the same Petersburg International Economic Forum and are committed to fostering a deeper cooperation in the face of an increased political and economic hostility from the u. S. This also reflected by the russian president Vladimir Putins comments on huawei who has now agreed to be the leading force for russias development. The situation around wildly for example which is not only being sidelined. Out of the Global Market in some circles it is even more over the 1st technological war to get their own. The u. S. Is blacklist for several Companies Including google and qualcomm from doing business with huawei furthermore the u. S. Is pressuring other countries to pick a side and decide whether or not they will allow holway to help build out their 5 g. Networks warning that their decision will have consequences. And while it appears that russia has welcomed the Telecom Giant with open arms western nations continue to ramp up their antagonism against way but its not just the u. S. One under look what the wa wa a is canada and joining now on the ground that is our take correspondent. So youre going to have that out right now so before we get to the russian president s remarks lets start with huawei as drama unfolding in your country whats the latest. What we can see that these Court Proceedings are actually being for push forward with joshi we know that she was arrested here but last december you know this is a story that weve been talking about a lot and things are being pushed forward now were hearing that we will actually see some action in the courts starting this september in october were talking about basically disclosures of evidence but we can look and weve talked about this before this is going to last a long time it can last well into 2020 so if shes here you know theres a lot of people saying theres really no evidence against her and stood up as well to talk about exactly whats going on with her we heard from Benjamin Howells and heres a quote from him hes the way Vice President of International Media affairs the u. S. Allegations against miss wayne are based on violations of unilateral sanctions imposed by United States on Financial Services in iran and canada does not impose any such sanctions therefore transactions conducted with the bank do not pose any risk of breaking canadian law as a result the alleged conduct of miss men is not criminal in canada and she should be released in media at least now were hearing that coming from a quite a few sides here in canada that you know that this person didnt do anything illegal in this country why was she even arrested here on u. S. Orders we do have agreements with the u. S. To cooperate with them but this is one of those situations that put canada in a very very awkward position between the u. S. And its 2nd largest. Trading partner china the u. S. Being number one its not someplace the country wants to be or Prime Minister hes talking about possibly talking to president g. About the situation that we have these street diplomatic relations well see if that goes down but reza as of right now were looking at this assault on on wall way and on top of that this main trial in canada is not going away anytime soon and alex in the russian president s speech that we just heard there in the rest of his comments he said the United States moves against while way were in effect an effort to the u. S. Trying to extend its jurisdiction across the world can you tell us more about that. Pretty strong words and i mean that his whole speech as we heard at the top there were a lot that was said there by president putin and president g of trying to was there at the summit he was in the audience so he heard what president putin said. Just coming down to the whole situation where theres a little proof here and not something that i just mentioned the u. S. Is basing this not on on the evidence that its sharing with the world its just saying you know while way bad and this is all part of the straight war we know that the main the incarceration of this of this individual in canada the house arrest which hes on or under right now is a part of this battle between china and the u. So if u. S. Is trying to push other countries into the position of not working with weiwei candidates on the fence right now about that but there are some countries of just flat out have said no we have worked with weiwei in the past and we will continue to work with them such as italy and now were hearing about russia putting a lot of money into that for 5 g. Technology so the push for awhile way the u. S. Might be saying no but theres a lot of people around the world that are still saying yes to that company ill take our spot i admire that thank you so much. Thank you. The swine fever outbreak and the ongoing trade war between the u. S. And china is causing Food Supplies in the Worlds Largest food supply issues in the Worlds Largest market now russias law. Just me producer the chair because although group is attempting to pick up the slack charges over c. E. O. Sergei mccabe last thursday the Company Began shipping poultry products to china in may and is looking forward to some plummeting their peat port and soybean market as well mckayla said his Company Expects to ship around 1500 tons of poultry products to china in july but shared a more lofty goal of the Company Shipping 40000 tonnes next year adding that he expects russia as a whole to export 200000. 00 tons to china next year. And the swine fever epidemic continues to rage through asia and royal Global Agriculture markets the latest outbreak of the highly transmissible untreatable disease started in china the home of 440000000 pigs more than half of the global total busy more than 1000000. 00 chinese pigs have already been called in efforts to limit the spread of the disease joining us now to discuss in detail is fred kaufman author of bet the farm fred 1st of all catch us up on the latest how far has the outbreak spread of the swine fever now and what is the toll so far this is no joke this is the largest outbreak of animal disease in the history of the planet it started breaking out in china in the shenyang province in august of last year and has since riddled the entire country we are not talking about 1000000. 00 pigs that have been killed but were looking now at about 128000000 the estimates are that were going to go as high as 200000000 this is unprecedented this blows the avian flu epidemic away and now whats happening is the infection the virus is spreading out of china into russia into mongolia into neighboring countries such as north korea vietnam this thing is going and its going fast its going to be really tough to stop saw frat youre a food safety expert so lets be clear this is not a food safety threat in the sense that this disease and its not a fact humans know they cannot parallel carry and transmit the disease is that correct. Thats absolutely thats absolutely correct in other words there is no danger that we are going to catch a disease by eating a pig thats been infected the disease how ever if we do eat that disease lets say this and this happens in china all the time pigs feet on swill pigs feet on waste in china pigs feet on human waste so if somebody were to eat infected poor and then the pigs that they own were then to feed on that they would be infected this thing goes fast and its also very mysterious in other words a pig can look very healthy and then in 10 days be completely dead its a hemorrhagic disease its like pig ebola what happens is none of the blood vessels and in the pigs body can hold blood they explode they lead to death its a horrible disease and the corpses have to be taken care of very carefully it is a huge bio security issue the largest one the borel has ever seen so fran our correspondent alex mahela this yesterday hit on the issue of factory farming and this outbreak talk about the structural factors here in the food system that creates the conditions for outbreaks like this one. What is so interesting here and ironic is that if all the pork in china if thats all the swine are actually produced in large factory farms it is conceivable the problem would be less one of the issues is that most pork producers in china have less than 500. 00 pigs they are a small family farms it is almost impossible to regulate in other words if we have the large factory farms horrible as they are there would be fewer of them and it will also be a little bit more possible for there to be some sort of government regulation and government oversight this is going to change the face of chinese pork production because across the board these men and women who are raising pork some bigs on small farms are going to be driven right out of the business very interesting fred looking forward what can industry do to stop breeding outbreaks what would a healthy and. Zillion food system look like and could it be just as profitable as the current one. Well look this is the problem this is the problem you nailed it which is that there is no vaccine for this virus there is no cure for this virus that is why we are looking at 200000000 pigs about to be killed each pig is about 200 pounds of meat you will do the math were taught were talking about 40000000000 pounds of meat has to be thrown away so what really needs to be done is start over and make new regulations we have to keep these places by a secure clean it has to be a new level of oversight such a thing does not exist right now in asia theyre going to start over. And what about meatless meat in this equation is that a significant solution here. Well of course i mean i think i think everybody wants to wants to go to meatless pork i think thats a great solution but what were looking at right now is the Agricultural Sector just taking such a hit in this country the Agricultural Commodities because whats another irony here is that you would think the United States pork producers would actually benefit from increased demand in china but because of the outrages situation that the president ministration has gotten us in terms of International Tariffs and trade with china we are not exporting more pork to china in terms of what were going to see in terms of the sect on the on your plate or in your wallet china has a reserve of frozen pork thats going to last about a year but after that expect the price of pork to jump your baloney is going to cost more for another bet the farm thanks for your insight. Thank you. Markets are mixed around the world this week after a slew of major headlines lets stop in moscow with the molex St Petersburg hosted the International Economic forum the markets got a boost as chinese and Russian Enterprises signed roughly 20000000000. 00 in business deals and china agreed to build our russias 5 g. Technology and then over in asia the shanghai index fell 2. 6 percent this week as the entire market got spooked on heightened scrutiny from regulators this came out of the congo a pharmaceuticals and Materials Group are found overstating its cash positions securities watchdogs warn that it will now be on the lookout for Insider Trading stock manipulation and other mixed conduct as scrutiny on corporate disclosures this is entirely part of chinas effort to ensure transparency and bolster confidence in the worlds 2nd largest stock market in order to continue attracting Foreign Investments over in hong kong the hang seng slumped mid week but managed to recoup and then flat still slightly down. In less than one percent while initially reacting to a potential rate cut by the Federal Reserve the rally was quickly sold off over in japan the nikkei start of the week at its 4 month lows but slowly rallied up throughout the week on optimism that washington is considering a delay in tariffs on mexican imports remember that japanese autos would be severely impacted as mexico is used as a Production Base the nikkei recovered slightly up for the week and then over in india. The sensex after rallying to an all time high post election is now dipping as Consumer Confidence declined in may due to terror sentiments on price levels and unemployment the current unemployment level is at a 445 year high at 6 point one percent and then over in australia the a. S. X. Is up as it pushes new 52. 00 week highs the markets have been driven by a strong local Housing Market rebound coupled with the upcoming tax cuts and is expected to lift Consumer Spending and set to meant in the near term and then finally over in south africa the all shares index also ended up for the week despite the rand plunging down to the 8 month lows the market reacted to your presence around the poles are taking steps towards putting south africa on a growth path and fighting corruption and now over to daniel for europe and America Thanks kristie big trend in europe and western europe and the americas this week starting in france the care is up this week despite the failure this week of those for you know merger talks energy and Health Care Sectors led the gains there on the cac moving to germany the dax is also up for the week soft charts were vendor showing big gains in stock prices as we go on the exchange moving across the channel to the u. K. The floor she puts another green arrow on the board for this week reportedly betting on a fiscal loosening from the European Central bank has an Interest Rate increase by the e. C. B. Is put off to next year on worries about a weakening Global Economy you know over to the americas starting in colombia. For the. At the end of the week after some controversy on thursday when the colombian finance minister told the central bank to not comment on growing Political Polarization in brazil the vast but also in the green this week and well have some big news on brazil and russia sure later in the show stay tuned for that and back to the u. S. All the major u. S. Stock markets for the week after down all being down last week and why you see and the tech heavy nasdaq and finally as we end in toronto. Yet another green arrow strong jobs numbers coming out of canada this week with unemployment falling to a record low of 5. 4 percent everything is up in europe and the americas this week and that is your global stock wrap. Time now for a quick break here because when we return another day and now theyre kept this time kate have had nearly 10000000. 00 and rep paul has being kept i analyzed fans want to standing by to help us find a copy and as we get a break here the numbers that. We could just. Say we decided to treat. To a very special. But this time to go back to the. Only seeing that i didnt enjoy my eyes in moscow. My then seen. On. The. Well actually we nailed it literally that we can. See this before in the eightys with the rise of japan and the us how to respond to rejigger the global currency markets at the plaza accord this is. The same people that gave us the plunge Protection Team after the crash of 1000. 00. So china doesnt seem to be wanting to play that game so theyre going to have to come up with some other strategy thats a moment here. Brazilian president jr bronson arrow says the marcos trade bloc will soon sign a trade deal with the European Union the mercosur bloc which is the worlds 3rd largest trading block consists of argentina brazil and paragraph in the past the block has also included venezuela however they have been indefinitely suspended since 2016 the deal if signed would join the 3rd largest trading block with the e. U. Who is the 2nd largest trading bloc behind only now. Mr bonds a narrow put a political spin on the now spent lot of his right wing ally president. Of argentina for his role in the deal. Meanwhile a spokesperson for the Argentine Finance Ministry said that they have been working with the brazilian diplomats on a plan to create a new joint currency for their countries as well as a parent i called the real the Spokes Person project of the development of the real past so what in current and in the medium to long term. And the latest u. S. Job numbers are just the president trumps choice to pick trade fights on at least 2 major fronts may now be taking a real toll on u. S. Growth the latest official monthly numbers show 75000 jobs created in the u. S. In may expectations among surveyed economists were reported is closer to 175000. 17 jobs the Unemployment Rate remained 3. 6 percent looking forward some see the increase prospect of an Interest Rate cut by the Federal Reserve in reaction as an upside to the weak jobs report meanwhile White House Press secretary Sarah Sanders told reporters on air force one that 5 percent tariffs on mexican imports quote will move forward and go into effect on monday june 10th statement came despite reports of mexican commitments in talks with the u. S. Vice president to deploy 6000 troops to the border with guatemala and place new restrictions on asylum claims. Cryptocurrency is entering the mainstream as tech giant apple and facebook look to enter the space but how can something that is valued for being decentralized without a Central Authority power work when it is being controlled by a Corporate Giant Corporate Giant that are currently being investigated for antitrust probes nonetheless i mean it sounds like theyre undermining the true nature and origin of a crypto currency giving us his take we welcome back investigative journalist ben swan man 1st of all we have a status last time that this facebook global coin isnt really a crypto currency its a tether at the stake. Its a digital coin and right now its being backed by a basket of currencies to be used on facebook portfolio of products and stick ram what marketplace and other us whats it take on this project now and why should you if there is trust facebook to be the centralized banker when there are so many other stable point options such as makers dive where you dont even need a middleman bank thats right well the short answer is they shouldnt use or should not trust facebook in this space like facebook has already proven that they are not worthy of even holding your data for you without it being exposed to 3rd parties sold to 3rd parties abused or even stolen so facebook does not do a good job of protecting you right now as a user of a social media site why would you expect them to do a good job of protecting you as a holder and user of their Digital Currency which again as you pointed out rightly so is not a crypto currency but the other thing is this Kristie Facebook actually robs crypto currency of all the things that give it value the idea of decentralization the idea of a step machine new monetary systems the idea of breaking away from Banking Systems as we know it it destroys all of that and facebook has proven itself to be a big brother working with governments around the world against independence among its users so i dont think we should trust facebook on any level when it comes to any kind of Digital Currency and then it also seems kind of counterintuitive to make this foray into crypto space that essentially positions facebook to enter the payments and Banking Sector when theyre already the focus of an antitrust probe you know going into a new area when youre already under scrutiny for having a monopoly how was i going to play. Well actually daniel and thats actually a really important point facebook needs to be investigated in terms of antitrust when it comes specifically to the issue of cryptocurrency considering the fact that new years of 2018 that Mark Zuckerberg said he was going to do it deep dive into crypto currency and learn much more about it within the next few months facebook as an integer band all cryptocurrency from appearing on facebook no ads were allowed to be sold if you had hosted any kind of bitcoin or crypto currency conference you couldnt advertise on facebook i c os werent allowed to advertise on facebook and so the idea was well facebook is protecting from scammers and all that well ok if you want to ban the i. C. It was because you claim that theyre all scams why did you stop people from even learning about crypto currencies they banned everything and then turn around and loosen those controls about the time that they said oh by the way were going to issue our own crypto currency and so heres the problem with that of course antitrust laws and even just going back into the 1950 s. Laws have been passed that essentially say you cannot block advertisements that are competitive to you facebook was doing exactly that only at least i think the argument could be made for that they were protecting themselves against mass adoption of these other kryptos while they themselves were designing them planning to release their own crypto. Now moving on to apple of they kind of did the same thing they said that they are now going to be released saying that i os 13 software which will feature a cryptographic Developers Tool and this is also interesting because apple pretty delisted coined it and a whole host of other kind of thats how much abstract so what do you make of this shift in attitude and why can you tell us about this yet again this very similar type of situation where coinbase was delisted from the app store as well as others what makes is just a little bit different is that apple could always lean back right now and say look were not creating our own crypto currency were using a cryptographic system that essentially allows you access to private keys and its a way of securing better your computer better securing your phone better finding your last item they could make that argument in there probably right for that but in reality it could also allow your i phone or your i mac. Or laptop to essentially become a secure Crypto Wallet thats really what this leads us to and by the way i have to point out because i love to say this about apple apple was once again behind others including samsung when the estyn came out they already had Crypto Wallet built into that technology so again apple was behind but a little bit different than facebook but even so could be the same issue with antitrust kind of sound spent on thank you so much. Guys thanks. And finally while crypto currency is the most well known application a block chain there are there are also uses like improving the supply chain at that point in his or bush in bed the Parent Company of budweiser Stella Artois and a number of other familiar brands has upped its investment in a pot chain startup called bank q the minnesota based bank you works to connect suppliers such as farmers who dont have access to Bank Accounts directly with companies and organizations to eliminate unneeded middlemen throughout the supply chain a. B. In bed made an initial investment with bank he would august of last year and lost a program in zambia that helped unbanked solve the farmers the services were eventually brought to uganda india brazil costa rica indonesia jordan malawi somalia south africa syria uganda and the United States part of the latest investment into bank you will be used in an attempt to expand integration into china and mexico according to estimates by the world bank in 20171700000000 people worldwide were without Bank Accounts. I mean that is absolutely all number right now the numbers are actually closer to 2000000000 people are without Bank Accounts and that accounts for almost a 3rd of the entire wall population so if you think about it they dont have access to sophisticated finance say if they cant have access to that like where is their reputation how can they borrow money how can they get a mortgage things like that so this really opens up for a lot of people not just as a matter of income but the things you can do with the money that you have its a its a far matter of building credit and reputation because right now they cant they have to use the cash that they have. Thats it for this time you can catch boom bust on youtube dot com slash boom bust our teeth see you next time. Nobody could see coming that false confessions would be that prevalent in this population of all the birch. Any interrogation out there what youll see is promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make the most uncomfortable make them want to get out and dont take no for an answer dont accept their denials she said their forwards or a sad statement that i would be home by that time the next day theres a culture on the countability that Police Officers know that they can engage in misconduct that has nothing to do with solving their crime. Which of those who heard. If you ever see him with the north we will forgo. The bulk move but it. Will show you that look beautiful the book i mean its going to look good. More muslim also his girls will give your films for good girls. Go to shows so look i look the same you love your kiss walk historic move to the issue go. To starts to. Get to me to tell it with the littlest theyd say look it is its. Just ashton understands dish to you its the mashed old truck stop the president and please control this project until. Theres your producers to go in the summer to snap them up when you look at those the girls are with you swear your supporters to your shoe station sure mr you should cook door for what was your business. How can we help citizens become healthier and happier moscow other than for a full of the 7th of july zaria Business Program interactive exhibition open Health Congress open festival the no details dont also been forum dot com 16 plus. This hours headlines stories a glimpse into wiki leaks founder julian assange. Prison in london are due agency ruptly has obtained exclusive footage. The International Monetary fund admits mistakes were made when trying to resuscitate argentinas economy saying it failed to