Transcripts For RT News 20240714

A very warm welcome to the program from all of us here at r. T. H. Q. And moscow thanks for joining us this hour. Senior u. S. Journalists are once again fighting over russia with one t. V. Network now suing the host of another for describing them as paid russian propaganda trying to go as a story. I do apologize were having some technical difficulties were going to go over to a program real quick and well come back when we can. Join me every thursday simon show and ill be speaking to us from the world of politics. Im sure ill see you then. Lead. Its a tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been only implemented for inside venezuela things are different were going to announce sanctions against the troll venezuela so if you. Have a supplement to. That. Data to. The people. The moment the focus of the who story isnt new makes him cold in Henry Kissinger to tell him not be tolerated in latin america. An alternative economic and social system could take hold and therefore the policy would be to make. Economy scream so wants now making the economy of venezuela screed. I dont. Know. If you know the falls so. You can sleep. With. Me shes on that. Follow mouthpiece down at this time i dont. Need to promote. 50 feet. Away. But. This is this is a stick from the water bottle phone in the stomach of a 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 there are the bad ones there the litter bugs are throwing this away industry should be blamed for all this waste to company has long promised to reuse the plastic. Special projects funded. On the. Fun now the mountains of waste only grow heigho. But if she warned you posted by you and i did the show would be sure that there was more of those jeans nudist beach and you see me. Blue true she. Has. No muffin when you guys e. Q. s. In the news i mean that is where that infants involved. A lot of you will see sawing during present parts about 2 kids each other both sides. As in the adults to me as a fire chief. Of. Staff cabinet 5 days doing so. In english medium for people who simply. Want included in total. Well you know the fire thing weve kind of adopted because we were called pirates for so long. Ive been there in the small boats next to the hard pool of ships and its standing. On top of. The little self to be told fish already 90 percent of the don i need to fall in with connor. Concept 15 scoops 75. 00 tons and they do it several times a day with a big fleet known. You get an idea why. We have to understand we can still use to. Be with in this. Field for years or. Im doing this because i want the future world to future generations to have and enjoy the ocean we have. This is boom box broadcasting around the globe and covering our 21st Century Global economy on danube radio in washington christy ideas on assignment in singapore heres a look at what weve got lined up for you today theres been a small breakthrough in the u. S. Trying to trade war as china has agreed to drop some of its tariffs on u. S. Goods professor richard wolf is on hand to break down the breakthrough and how much trade war pain is still in the pipeline pretty with economy plus we take you back to singapore for our very own christiane whos mansion catch up with mike on the an expert in the Singapore Telecom industry still focused on 5 g. And how asia is leading the way for the world so much Important News an interesting content so little time lets go. To a Game Changing merger proposal between 2 major global stock exchanges leads our global report today as Hong Kong Exchanges in clearing makes a takeover bid of 36600000000. 00 for the London Stock Exchange the offer was specified as 83. 00 pounds in cash and stock per share of the l. S. E. Stock in a filing by Hong Kong Exchange president laura chachi. May long the chair is filing also stated a combination of h k e x n l a c represents a highly compelling strategic opportunity to create a Global Market Infrastructure Group bringing together the largest and most significant Financial Centers and asia and europe there is also a significant cost to the unsolicited bid in the filing hong kong will proceed only if l. S. E. Shareholders vote down a 27000000000. 00 all shares deal for the elysee to acquire. Firm or affinity of the it was announced in august analyses statement described the bit as preliminary and highly conditional still the Hong Kong Exchanges chief executive charles lee clearly trying to woo the as he would promises of stability telling reporters on a press call the u. K. Is a Global Financial center and the city of london is always going to be strong even post europe mr lee also said the bid was a vote of confidence in londons financial future in the midst of the brags that imbroglio. And speaking of that we go to england now where Prime Minister Boris Johnson suspension of the u. K. Parliament has been ruled on law for all our correspondent in france and joins me now and over this ruling overturned earlier ruling that said and did not break the law whats that one where are we now yellow so scotlands highest Civil Court Judges they did rule that johnsons advice to the queen on the suspension of parliament was unlawful ruling that had the purpose of stymieing parliament but that doesnt mean that the suspension is going to be lifted right away rather the u. K. Supreme court will hear an appeal from the government next week u. K. Opposition leader Jeremy Corbett agreed with the ruling saying that the Prime Minister was preventing questioning and debate of his goal to pull the u. K. Out of the e. U. By october 31st take a listen i want to lead a labor government will bring people together and a relationship with europe in the. You are an effective trading relationship with europe in which we have a dynamic relationship on regulations and right so we dont become a donald trump off shore oil and the edge of europe undermining the social advances that have been made now recognize that through the european union. Now just after the ruling a Cross Party Group of lawmakers gathered outside parliament to protest against the formal shutdown and said that they would continue to attend meetings and still go about their Business Inside the building. We call me weve seen the parliament is not sitting should be sitting hold this government. We make very clear as you saw in the church aspect just a few weeks ago. Parliament was acting this way and that we will find other ways to hold this government and we will have other ways to assure our constituents who elected democratically. Now this court ruling comes after a group of more than 70 opposition lawmakers challenge the governments decision to formally shut down parliament until october 14th last week a court enberg threw out the law makers challenge saying that the politicians not the courts should decide but that decision was then overturned on an appeal now fair and almost every day i think how can this story get any more uncertain but somehow it does and if theres anything weve learned from our guests its that business hates on uncertainty absolutely does daniel and you know what the British Chamber of commerce in germany today they actually said that businesses are dealing with big uncertainties with the brics that debate and still with it still not being resolved and that the u. K. And germany arent prepared enough for now the board says that a new referendum would obviously be better since the new law against a no deal with drawl and no new election solve the problems that companies are already facing again we have the u. K. Supreme court ruling next week and with the u. K. Set to leave the e. U. By october 31st the latest exit out of the bugs that show with r g correspondent for in france thanks so much for your time. And im moving to asia there has been a breakthrough a small one in the malays of the ongoing trade war with the us as china has waived tariffs on some goods coming in from the us this includes 16 products including seafood and. Pharmaceuticals for Cancer Patients the exemptions will start later this month to be just before the trade talks we start in october here to break it all down and bring us up to speed on this and a host of other issues is professor Richard Wolfe professor of economics and there are just at the u. University massachusetts amherst and the author of democracy at work a cure for capitalism professor wolfe welcome back as we said thank you there seems to be some Small Movement here with china showing some flexibility on their tariffs the news here that theyve issued exemptions for 16 type of imports starting in on september 17th 12 of those products are now already eligible are now eligible for retroactive refunds on tariffs already paid. The bill for a lot of that is already coming due moodys analytics estimated that the trump trade bite has already cost the u. S. 300000. 00 jobs net thats existing jobs that were cut jobs that would have been created but were told by the effect of the terrace so does that estimate of 300000 jobs lost sound right to you and how much of an offset are these tariff exemptions going to be. Well i think the estimate is honestly an underestimate we dont know what all the secondary and tertiary effects are its not just a question of the job loss today but what the ramifications are if for example 300000 people lose their jobs their incomes are going to go down theyre going to be able to buy fewer goods thats going to lead other companies to have unsold inventory and they will lay off workers thats how capitalism works and so this could be a much longer drawn out decline of both economies as theyre both affected i think what you see in the offer of the chinese to rescind some of the tower of sun to pay back people whove paid a tariff is a sign of good will in advance of those negotiations that are to start pretty soon its a pattern mr trump exact. Generates and attacks and the chinese take their time wait a little bit come back with less of an intensity that mr trump showed unfortunately after the chinese announced what you just talked about mr trump through another tweet out there emphasizing how much they have lost how desperate they must be when in fact for the whole world what you see is desperate aggressive behavior by the trumpet administration at a very moderated response by the chinese they certainly behave as though they think in the long run this is their game to win and that mr trump has to be waited out in the hopes that Something Different will come either out of the election or out of the pressure from the United States even from the chamber of commerce in the United States who has a delegation in beijing right now trying to mediate this situation which is a kind of an odd situation in itself very interesting to when the chamber gets involved you know they really speak for hour here in the u. S. Getting to a domestic u. S. Story with some Global Implications the California State Assembly has now passed a law that would require door dash lift and similar socalled gig economy employers to treat the drivers they clearly employ as employees but this graft of calling them independent contractors seems to be key to their Business Models and so those 3 Companies Plan to spend at least 90000000. 00 they say to reverse that by putting it to a public vote as our guest yesterday had amassed pointed out were talking about some Good Companies that are already struggling to make profits how much of a threat is this California Law for these companies that aim to be global firms. Well i think what youre seeing and youre going to see more and more of it is a turning of the tide in the United States theres more and more positive attitude towards labor unions theres much more positive attitude. Towards tilting the balance back away from corporations to the mass of people the California Legislature just is in the process of passing a law for example helping renters against landlords having done the opposite for the last 20 years i think youre going to see a shift and those companies ober lift and so on are going to have to find the economies they want the profit advances they want in some other way than pressing down the wages of workers by calling them gig employees or contractors theyre going to have to give them the same benefits the same security that the average worker got after fighting for it for on 100 years i think those companies are well positioned with the technology they boast about to find other ways to make money other than pressing down the wages which the mass of people are basically no longer going to allow them to do as they did in the past somethings got to give professor Richard Wolffe another day of fascinating takes thanks so much for your time. Thank you. And mexico is making a major play in Foreign Trade and moving to financially reinforce their state Oil Company Pemex mexicos Economy Ministry has confirmed a claim from their brazilian counterparts that lanham latin americas 2 largest economies have begun talks on a broad trade agreement a previously agreed liberalization of trade in auto parts and finished vehicles took effect in march of this year meanwhile the Mexican Finance Ministry has reportedly arranged for another 5000000000. 00 infusion of liquidity into the state Oil Company Pemex the Ministry Said in a statement that the capital would come from the federal government redirected from unspecified assets in the mexican treasury bloomberg reported that the ministry has only a range to provide a Short Term Loans of pemex as a bridge to credit from lenders including j. P. Morgan Goldman Sachs and bank of america the Ministry Says the. All of the infusion is to refinance bonds that were coming due for pemex between 2022023. Time now for a quick break but stay tuned because when we return we take you back to singapore with our very own christine i who managed to catch up with mike and exploiting this in the course Telecom Industry talking about gene and how asia is leading the way for the rest of the world and as we go to break we take note of one market moving event to say the resignation of his National Security advisor john bolton the United States enthusiastic advocate of u. S. Regime change in iran and its way with the price of oil after that event which had been trading up by roughly a dollar before partially recovering for today here are those close in market numbers. Joining me every thursday on the alex simon chill and ill be speaking to guest of the world of politics Small Business im show business ill see you then. You know world of big. 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. Welcome back. Unrest continues to rage in hong kong and its implications have far reaching effect not only china but Southeast Asia as a whole. Is on the ground in singapore and she tells us with the stress of the protests has begun to spill over. The riots in hong kong have been going on since march and despite kerry lems concession to formally withdraw the extradition bill 7 the unrest continues this prolonged disruption has already caused a spillover impact on to singapore and the broader Southeast Asian region the lion city has certainly capitalized on hong kong situation as many businesses have relocated conferences and other major meetings to singapore and while tourism to hong kong dropped to 40 percent this summer to a record low last seen during the sars outbreak singapore reported record high Hotel Occupancy 93. 8 percent with room rates also at the highest since 2005 as mainland are now opting to holiday here in singapore it seems that singapore is benefiting quite a lot from hong kongs fall out as both these destinations share similar traits it captures now the leisure Consumer Market it captures the business and conference traveller market and lastly but most importantly it captures the investment and high end net wealth private clients and their assets as well so it seems like singapore is winning in all of this right well not necessarily the relationship between hong kong and singapore is deep and intricate and rooted in trade hong kong and singapore its 5th largest trading partner last year and the 4th largest investment destination the riots have now impacted many businesses with operations in hong kong and the economic consequences have already started to show some retail sales are down more than 10 percent for the 2nd quarter and now it risks money into disruption in the supply chain any disruptions to the supply chain will cause it to be diverted and companies will certainly ship their shipping routes into competing ports namely shanghai and. A shift. This would likely result in a permanent loss of business for hong kong and singapore which is that will be a devastating blow for the export driven economy so while singapore is making short term gains in certain markets the long term spillover effect is a net negative this includes many assets that have been relocated by investors to singapore as this is likely to be short term and temporary as capital will always find a way to flow to where there is opportunity the biggest risk of all is still the uncertainty of the contagion effect of the loss in confidence in hong kong remember in the 1905 tequila crisis what happened and what precipitated the mexican decline what precipitated thailand in 1907 and how about argentina it was always the same thing it was always the wealthy losing face or fear of the government and they started moving their assets out so we spoke with director of the bank at c i m b and he agreed that confidence is everything to remain confidence because no matter how cheap your cost of borrowing you see Central Banks everywhere cutting rates to 0 or in the case of europe was about to go on they could bring him back on to be using more ways to free up more liquidity to the Financial Institution what do you do with all the money out there if the demand for your goods and services is because everybodys worried about their jobs their livelihood or for their children you so they dont theyre not going to be spending more so if the wealthy in hong kong convert to dollars or just outright leave then hong kong is finished resulting in massive kid tejan Ripple Effect across asia and Southeast Asia and were talking about the most leverage developed economy in the world here with the most leverage consumers in the world with the most expensive real estate in the world so when youre at this level things can start to fall apart very quickly and the effects will be felt by everyone reporting from singapore. Its day i r. T. And one key component of the ongoing trade war that has been in syrias focus is spied g. And the race for digital dominants Chinese Telecom giant while way has been caught in the middle but threats from the us have been met with mixed results kristie i managed to catch up with mike own a told com expert in singapore to get his take on what the future of 5 g. Holds so i night us finish air talk talking about the fought roll out of 5 g. Of and sing up our its ok tell us about how that its progressing poll we had a lot of interest after my tall a lot of people came up to me and say hey this is what we should all do what i talked about was the idea of a shit gets a structure why this infrastructure that 5 g. A swell his wife far are right but most focus on 5 g. S. We have all out 5 g. And single paul because theyre many countries or rudy doing shit pulling over sauces in korea for example all the tree top will ball protests search for were pulled together and there for the shit if owed the shant in some sort investing in the 5 g. For structure a coup is the 1st country in the world to the role 05 g. So this commission me right in japan right you would have the likes of sop but of the ruppel ton mobo took electric power in a couple of others including pious p. Will also have pulled resources to give them to roll outs a 5 g. Deployment right oh we have any cases of even before fight gee current 4 g. In the u. K. For example of a bore the forward and tow the for make their rolled out why this infrastructure by sharing so what you do is that you had the pool of shit infrastructure and being leased out to the with the all protists so the op or it was those old better infrastructure or the in a case or somebody at a countrys right for example the trio purchase order for structure. So i know you mentioned that here in singapore there is arent that Many Companies that provide 5 g. Theres only a handful that way that are sick and theres no as well as a couple other smaller providers so in terms of you guys how do you come how do you guys a value which company to work with. Thats quite. A difficult question to answer because it depends on the management of pitch walpurga. What i do know is that while we use a significant factor. In many operators these are doing or would be adopted or we it would be difficult for them to. Stop. Before we partly because existing systems as they move towards 5 g. Im sure its easier for that to move across to far to do before weve already heard before we could move. On unless something changes in technology which could be a shift because the technology is moving towards software before and it works where the Software Source more important then the hard work so who is going to spearhead the Software Component of its power getting into the Software Development of it as well. As far as i know the. Sdn those that call it Software Defined that works we know theres actually a lot of its headed by start ups. Software start ups. Although some of the bigger players for him to get into the sea the old old the big Telecom Operators and procurement suppliers of the earth so. Before we. All would be getting into is the. Other this is smaller players who are spearheading in the movie show and so forth before that so it seems like the singapore government is the really behind the rollout of 5 g. And out a very fast paced here unlike whats. Were seeing here in the u. S. So do you think that were seeing a shift here where technology in asia and connectivity in asia is going to surpass that of the u. S. Anytime soon definitely so because thats true of see in korea south korea is the 1st country to roll out commercial flight to pilots are being done in china in singapore and no japan or 2 or so these are countries that have tried to even the militia telecom lasers to the pilot for certain obligations