Transcripts For RT Boom Bust 20240714

Deal between the European Union and mercosur leads our global report today as finance signals it is not ready to approve french agriculture minister didier de yelm told members of the French Parliament quote we wont have an accord at any price the story isnt finished more specifically and more dramatically mr holmes said i will not be the front minister who sacrifices french agriculture on the altar of an International Agreement similarly the French Foreign minister said it remains to be seen whether france would support the deal french president emanuel micron hailed Draft Agreement as a good deal after last fridays landmark announcement following a full 20 years of negotiation between the e. U. In the south American Trading bloc a president ial spokesperson later said quote france is not ready yet ready to ratify and all these comments follow the statement of a 23000000 member Farmers Union that the deal would be remembered as quote a very. Very dark moments. Here to dive into the details of this emerging story is ruben courtier president of the un i global union which represents 20000000 members in 150 countries joining us from one or cyrus president courtin a welcome boom bust. And mr curtin youre much hear you yes could your union represents workers in america certain nations argentina brazil part of why or why as well as in the e. U. How do you see this agreement affecting those different constituencies of your membership and what is the unions position on this agreement right now. Well as he said i represent globally a union that has constituencies all around the planet including the European Union and let an american europeans saw the visions that the that are going on through this discussion with this these i would say preagreement are different obviously there are a lot of unions in the European Union that are against the agreement mostly those unions that are related to agree cultural production and there are other unions that think that this agreement can bring more jobs to the or opinion at the other in the other end the americas unions historically are against these type of agreements these trade agreements as we call them between them by laterals all multilateral all be regional like this one because history them astray is that free trade agreements do not necessarily bring jobs well for good salaries for all people so these different visions have to be discussed in the future why do i say this because the agreement is not saying it is just an intention that both parties have to. Go on a process that is not yet finished and and thats what you say about the french opinion the opinion of the french people mostly the people related to agricultural policies are against the agreement so theres a lot to go on yet on this agreement because they also have to go through parliament so i think that we just saw a sign of i would say a declaration or Something Like that that thats what i said this was just a pre agreement and now what are the factors that will be the most affected by this agreement and in what way. Well in our case as none industrialized countries except a little bit more than argentina brazil. Industry Light Industry and manufacturers will be seriously damaged textile shoemakers. Car makers all those industries that we have in our countries trying to develop through the through the years can be serialist seriously damage that is well in our side the negotiations took 20 years and will take some more years but i think that countries that have this economic profile of being countries that only builds their economy on exportation of primary goods and are not totally industrialized like some of the European Countries will be we will be severally damage through the years and in terms of process clearly this will take some time president also narrow brazil suggested one to 3 years before the agreement could be approved what is your estimate. When i think so i also think that its going to take a while because. The agreement when once is signed finally signed it has to go to parliamentary approval in the key. So the European Union maybe that parliamentary approval can be avoided because the European Union has supranational. Tools that are loans deal rippin commission to go to avoid the process in the parliaments the National Parliaments and the European Parliament but in the case of merkel so it has to go through our 4 National Parliaments there is the brazilian the paraguayan the required and theres the Argentinian Parliament and by the way were having electoral processes here in our country in argentina and also in europe why and we dont know what the outcome of these process is so we dont know what the real composition of the parliament will at the end be so i think it will take a lot of time a lot of time to to get this agreement through our our legislation and through our National Realities saw on the subject of brazil last month your Union Rhetoric has sent us an arrow on the subject of labor rights what they are saying. Well were deeply engaged with our the reality that our unions are living in in brazil since the term or presidency and now with mr wilson adam the reality of our Union Movement and workers is getting worse and worse day by day they have they have thrown away legislation that was in place since 1940 about the the resourcing of the unions they are talking about. Labor reforms and they have already put in place labor reforms that damages really damages the outcome of the Union Activity in brazil unions in brazil are going through a very very worried president very very difficult situation in terms of their own. Resources to resourcing and talking and engage with the struggle with the government because of the labor reforms government is putting in place that goes against workers and unions. And just one last question very quickly present paulson are suggested the e. U. Mercosur deal even as it is in process could spur a domino effect of other a trade deals perhaps most immediately with japan do you think that will happen. I dont think so i think that there is a speed group of speed on these trade agreements since the ninetys and mostly since 2005 so i think that i dont think that this by a regional agreement in case it is put in place legally put in place can bring more speed to other agreements that could take place well see what happens in the near future but i dont think that this will be getting. Around of new. Trade agreements around the world because of these by regular regional agreement thank you so much rubin courtin a president of the un i global union. The Brazilian Senate has recommended that the chief Financial Officer and former c. E. O. Of the valet corp be and guided for manslaughter over a deadly dan collapse that killed 350. 00 people violate the Worlds Largest producer of iron ore a nickel has been under scrutiny since a precarious dam holding back mining waste collapsed near the town of ramadi in hell in the state of minister. Now after a series of public hearing over 120. 00 days a Senate Committee has recommended 16 indictments on manslaughter and other crimes for. The recommended indictments are against individuals and 2 against corporations including by the way the former of all a c. E. O. Cited by the committee is a short man who stepped down in march the committees findings do not obligate prosecutors to charge the targets but will certainly add to the public pressure for action. Despite a truce in the trade war between the United States and china and President Donald Trump decision to allow u. S. Companies to sell. The Chinese Telecom giants founder rents and pay doesnt think that it will have much of an impact on their business in a Statement Issued to the Financial Times mr gross said of the situation President Trump statements are good for American Companies while way is also willing to continue to buy products from American Companies but we dont see much impact on what we are currently doing we will still focus on doing our own job right joining us now to dig deep into what the trade need from the u. S. Means for a while a is our team america correspondent alex mchale of asia and boom bust Producer Branch of war so 1st off alex what are the concerns that huawei has over this reprieve in the ban on American Companies selling tech specifically semiconductors to the Chinese Telecom giant. Will a growing join phase of pretty much said it all is you know hes welcoming this news from trump but hes taking it with a grain of salt he knows that the way the u. S. Operates theres of there to be a lot of opposition to loosening anything worthwhile way because of socalled security concerns especially coming from china hawks in the u. S. Government so one step forward he said you know what we were going to keep doing business as usual as you just mentioned we want to do things right and thats what wall weighs doing about its where they want to stand out working with the u. S. Companies would be absolutely great we know that Companies Sell software as well as chips and other goods to wall way theyve worked in combination American Companies obviously that have worked with why we want to keep doing business with y. Because it means money for them. The sametime always says well you know theres other places that have that kind of stuff and we can go to other countries we believe in our own chinese industry to be able to produce what the americans can and heres the problem once you lose this type of client its really difficult to get that client box so thats a problem of the u. S. Is going to see but here is what the c. E. O. And founder of wildly said heres a quote from him which is quite in story interesting that the u. S. Is helping us in a great way by giving us these difficulties under external pressure we have become more united than ever so what the way chief executive is basically saying here is that you know what weve gone to these other places weve had to be resilient weve had to diversify were working with other people now and you know what were were here were here were not going away theres plenty of countries that you can use our products so with or without the u. S. Were just going to keep chugging along and sure wed love to work with the u. S. There is that possibility and with what President Trump is saying of course this means more business for everybody but last i mention theres going to be a lot of opposition coming from within the u. S. Government now brand in may google it temporarily ban funds from receiving updates for the android operating system only to turn around and give the company a temporary 90 day stay which allows tablets and phones running anti to receive the updates until mid august now that there is a truce in the trade war and the restrictions against while they have been relaxed what does this mean for a while way is the use of the worlds most popular mobile operating system its actually very interesting because while way itself doesnt actually know what this means for their use of the android operating system i want to talk about a quote myself tim de soie is Vice President of Risk Management and partner relations was asked about this on monday and he said quote we acknowledge President Trumps comments related to while away over the weekend and well wait for guidance from the department of commerce but i have nothing further to add at this time and the u. S. Commerce department has actually not responded to this as of yet and now as we mentioned. Weiwei has until mid august to use android to work out their own system and i android did that because what they wanted was to secure it so that way they were using an updated version that were outdated and were boehner a bill to any sort of issues now they also theres a couple things to note here and according to a report from the South China Morning Post recently while ways actually been working on their own proprietary operating system code named on mang since 2012 and in the event that this exact situation would have happened when asked about it they essentially say they prefer to use android for mobile and windows for their p. C. But they have to protect the interests of their customers and theyve even started to court some of the Google Play Stores App Developers to be published on their own marketplace so thats what theyre working away now just something to remind you of in china they use a really pared down version of the android operating system that uses a backbone but its not the latest greatest version but whether that would work in the west where we want the latest and greatest type of technology its hard to see so thats kind of up in the air and brant on that point since while way is working on their own operating system what does that mean for google sweet abouts native to android that might not then be available on this new system is very interesting because you know you might you may remember back when android was kind of coming to prominence and i. O. s was their big competitor the apple operating system there was a situation between the 2 companies where apple didnt want google apps who didnt want to let apple use their apps and so what happened was you didnt have google maps which is the number one when g. P. S. Was it was becoming a big thing with smartphones and so what happened was apple had their own maps apple maps that became disastrous sending people everywhere but their own destination public outcry happened and guess what google maps ended up on the system so this could be a situation if weiwei did their own proprietary system in the west but again you know look at what was biggest market of china all of the google apps are actually blocked in the country without the use of some sort of v. P. N. So as it is now it could easily you know prop up some of. Chinas biggest sites and apps for example i want take a look at a couple of videos streaming and hosting Sector Companies so in the west the market is dominated by you tube which boasts about 2000000000 monthly users but there are some giants in check that most china most westerners have never heard of for instance theres hugo which is roughly 500000000 monthly users and is owned by chinas Largest Company and ali baba theres also a key which is a streaming site that has around 500000000 monthly users in his own by the google of china by do and finally theres a 10 cent video of course owned by china chinese multi media conglomerate 10 cent an average of about 900 monthly 1000000 monthly users now think about this if you know while ways making their presence felt in the west if they were to start using their own operating system and these types of apps are native they could start to compete with you tube and that could be a big deal. And alex with this situation seeming to finally have some sort of clarity what does it mean for a while we see a fellow man one jew who of course was arrested in vancouver in december at the request of the United States authorities. As it stands right now meg her lawyers here in canada what theyve basically been saying is that you know this this whole thing is without merit and thats being backed up by some of President Trump suggestions what hes saying you know what this whole thing might go away we might stop the whole extradition process if we get a deal with china so as you can imagine the lawyers are jumping on that as well is that in some political circles here in canada former Prime Minister Jean Chretien hes also one of the people pushing forward saying that you know what it might be time to let go simply because we want to better our relations with the us what hes saying the canadians want to better their relations with with china 2nd biggest trading partner and also the 3rd Justin Trudeau i mean he cant really do very much at this point but if it ever did come to extradition thats when the Prime Minister could come in and talk to his minister of justice and say ok we need to stop this lets be far down the road but right now there does seem some movement and some people talking about letting go. R. T. Correspondent alex my helmet and r. T. Producer wrench of our thank you both so much for your. Time now for a quick break but stay tuned because when we return the roller coaster rages on for big choirs the crypto has seen its ups and downs and its not just that corn is all coins have also taken a beating me morale us about why are ventures a standing by to dig into the details of the debt and as we go to break here are the numbers at the close. This is a stick from the water bottle found in the stomach of the fish the brand is part of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers theyre the bad ones theyre the litter bugs are throwing this away industry shouldnt be blamed for all this waste the company has long promised to reuse the plastic. As soon as. Their plastic. Special projects funding. On the that is the end of it for the team but for now the mountains of waste only grow higher. In a world of big new lot and conspiracy its time to wake up to dig deeper to hit the stories that Mainstream Media refuses to tell more than ever we need to be smarter we need to stop slamming the door. And shouting past each other its time for Critical Thinking its time to fight for the middle for the truth the time is now for watching closely watching the hawks. The free you both of them were not in the mood for your surplus money. In your. Opinion but for the loser to go over to the north if you. Wanted good sort of for your word of what it seems that you have your limits to treat. Over the last 48 hours coin has had a 30 percent correction following a very strong rally that has been in play over the last few months now as exciting as it would be to watch it just go parabolic we needed these periods of consolidation as big point bell we see some very strong support at the 10000 range as soon as it was breached it was met with heavy buyers bring it right back up you see the rising candlesticks on the hourly which is a very good sign but presently the 5 day and 10 Day Moving Average is crossed over indicating that short term momentum is to the downside so there is a bit of selling pressure and volatility to wade through as we go back and be tested support levels 110048 3rd and hopefully the last time the coins have also shed their values as most are correlated to bake wine but we have some pockets of strength where they really shined we have hollow chain bit torrent comodo the systems and that all decoupling from big client and rally in hire so you see a slight rotation in some of these all the points here but this is not the full liquidity exit yet and while we love looking at Technical Support of Crypto Trading lets take a look at some of the fundamental factors fueling the strength. The bank of International Settlements aka the central bank of Central Banks just reversed their stance on crypto from calling it a bubble a ponzi scheme and an environmental disaster that the i asked chief augustine carlston is now actively endorsing the creation and issuance of digital versions of National Currency to tell us why we welcome ruby more alice partner at Outlier Ventures so when they are here this is an interesting stance that b. I as has taken now so its doing a complete 180. 00 on its position regarding crypto and is also coming out with their own so this is essentially talking about the development of a Central Bank Digital currency which is basically no different than leap which means that it is a centralized currency which means that it can be censored it can be frozen it can be manipulated and lets be real this is a Digital Currency not a crypto currency so what is your stance and outlook on this. I think that b. I asked was responding to 2 things here the 1st being that many Central Banks themselves have been exploring Digital Currency for some time now so if you mentioned there the central bank of Central Banks they have to be very responsive to the Central Banks around the world in the fact that this is a movement and this is the technology that Central Banks all over are starting to explore in very meaningful ways now the 2nd effect that they are also responding to you mentioned libra right with facebooks Digital Currency that theyre launching. Theyre obviously very mindful of that and the fact that facebook is launching a Stable Currency that perhaps conservatives millions if not billions of people around the world but its not just facebook yes i believe in there and the report also talked about google and 10 cent and ali baba as other Technology Companies now getting into this space so they were spawning on those levels i think they know that you know the genie is out of the bottle now so for the b. S. Its like well what are your wishes what are your 3 wishes in a world where additional currency is really becoming more prevalent. It seems to bode well obviously for the industry that now. For taking such an interest in group goes and sort of legitimizing crypto currencies in a lot of peoples eyes but what do you think is there and goal here where do you see another kryptos in relation to their all plans for a centralized currency. And i think for the Central Banks of the i. M. F. I say thats not the central banker or person and large Significant Financial Institution currently but i have to imagine they just want to be able to keep on doing what they have been doing they want to be able to promote Financial Stability and security all around the world i have to think that you know the volatility that we were talking about earlier because i really concerns them as they think about what Digital Currency is do in the future so im guessing that as they move towards putting more in digital form themselves that they can provide a more secure alternative for people that might be utilizing it going today and so that big point becomes not a need to have but a nice to have a perhaps a less appear format to Digital Currencies that are more ubiquitous and supported by governments around the world but how will this actually solve any of the problems that are currently faced by the current sees existing today because from what theyre proposing this is no different than just taking our standard currency and just digitizing it. You know evolution especially financial evolution takes its time im sitting here in chicago where lets not forget you still have people at the board of trade trading with open outcry and gestures even though were now talking about big trading so i dont mind at all that the Central Banks are discussing this there will be problems in the future just as if you had problems in the past the important thing here is that they are embracing this type of Technology Innovation theyre trying to include more people in a more democratic way of providing finance around the globe especially perhaps of people that cannot i. Says the Capital Markets as easily as others can today so take this as an overall positive step in the right direction now lets move on over to x x r p has tremendous potential but as has since taken quite a hit recently they had a huge sell off recently trading down to 0. 40 now that after 1000000000. 00 pieces were unlocked and on the move and speculation is that these acts are these belong to a rebel exact and they were intentionally keeping x. R. P. Prices low in order to beckon more clients to leverage the x. Rabbit into their operations so do you think there is some sort of price manipulation going on here. You know in the crypto currency market every day it wouldnt be a regular day without some speculation one way or the other i will say this you know full disclosure i previously led the venture arm of this unique group and we invested in ripple series a round back over 4 years ago now in the early 2015 and i was observer on ripples board so lets not. Get carried away necessarily imagining that ripple or other firms are in some secret cave somewhere plotting for their own self interests or both a very has a long tenure in this space and has a very professional board these are not a good group of management making their decisions in isolation i say this now having no soucy action with ripple but just based on my past interaction with them that collectively i think theyve always been working towards their long term vision of helping people helping the world really transmit value just the way that the world transfers information today. I mean more allies of ally ventures thank you so much for your time. That said by this time you can catch boom bust on you tube dot com boom bust the next time. As we speak large organized care of the bar on the march to the United States. Is 70 and a player coming up were getting there you know swarms remains littering down. This is a virtual invasion of our country for so far because theres anything anything. That i met up in that i meant a day out are a fall in the form of of those going up in the form of a feeling you know its going to stuff it in. A knife our feel. Is you know there was you know were going to see a more googles you know to see this year for a player for 2 over who got. The. Politicians to do something to. Be put themselves on the line to get accepted or rejected. So when you want to be president or injury. Or something i want to. Have to go right to the press was like that before 3 in the morning cant be good that im interested always in the waters of my college. Lets sit. Well. Floods may approach an office condolences to the families of 14 say those killed in the past which qualify and russias quest the president ordered his facts minister to travel to the area and investigate. After 3 days of disagreement anticipate the e. U. Summit find it with candidates for blocks top jobs a woman is nominated past time to head up the european commission. And Britains Home Office pledges to requite advice on traffic highchair and women suggesting they would be wealthy livestock in africa after watching as prostitutes in the u. K