Trade arguments and terror threats and the u. S. Investment restrictions will continue throughout 2020 the official text will be released later on to review but there is a nonpublic component of the agreement which is a confidential annex with detailed purchase amounts devils always in the detail as we wait for the documents to be released. I mean this is fascinating seems like its a big win for the Trump Administration but what is china really getting out of actually signing this deal today here in washington exact us ive got a clue what i was getting with the quid pro quo why is china actually getting china is making these huge ad commitments 200000000000 dollars worth in the following 2 years and what is it getting not in return not getting spanked by more terrorist by the u. S. To avoid more punishment by the u. S. How is that exactly fair is not really getting any additional reward in return then why do they sign the deal to do that in order to have a cease fire in order to avoid games. By mark has which would have been in place in december and to further prevent more escalation and thereby volatility in the market and this also gives china a little bit of a breather and time to focus on their domestic market theyre now looking ahead its taken more than a year and a half to hammer out the details of phase one which you say already been beneficial really to china at this point so what about phase 2 are we really going to see progress on this i mean the china peoples daily they say we wont see this for a while exactly and weve been saying on the shelf for some time along with many of our guests that phase 2 is unlikely to be resolved anytime soon because if phase one took a year to have phase 2 which will probably be broken out into a mini phase 22. 00 mini phase 2. 2 except thats not all be broken out and who knows how long ill take year and a half 2 years but were going to definitely see on this so lets bring in professor Richard Wolfe economics to add a little bit of his insight here because hes one of those guys that christy was just talking about a professor i want to follow up on that same note that we just talked about there where do you see things when it comes to actually doing phase 2. Well between you and me and the lamppost i dont see much happening i dont see much has happened here either i think this is 95 percent see after its partly for the trumpet administration because they initiated all of this but partly as you correctly say for the chinese also to look as though d theyre cooperating theyre not interested in being a problem a position by the way which they have successfully promoted around the world where this is entirely seen as an American Initiative an american commitment to protectionism not at all blaming china and that by the way in the long run is a very very important gain for china it has taken over from the United States the position of being the reasonable global World Economic power that isnt slapping anybody with tower of at least not as an initial. Behavior its only doing it if it is subjected to tower of the United States you stop your pie the role of the dominant benevolent global World Economic power mr trump whether you like him or not has lost that position for the United States and given the china 2 other quick things one yesterday the United States said they no longer consider china to be a currency manipulator my guess is that was on the table too because theyd the chinese dont want that kind of designation because it interferes in International Monetary dealings and finally giving 10 months for a decision about continuing maybe 2 years for the purchases by the chinese that are being talked about thats more than enough time for china to do and to play and to do many things that can undo the effect of tariffs let me remind you a tariff is a tax if you put a tax on chinese goods it makes them more expensive but if the chinese figure out ways to cheapen their goods well then they become competitive again even with that our earth and theyve already been doing that in the last 12 months they will now accelerate that and that is a long term competitive advantage to them because as theyre having to keep in their products americans protected by the tariff wall have less of an incentive to do that and in the long run thats also favoring china you gramp an excellent point about america who used to be the dominant stabilizing power in the global stage and he has kind of a kind of lost that now so is 20 twentieths set to be a repeat of 29000. 00 with rampant volatility in the market as a kind of gets charged around by more tweets from the white house because as a manager as they got. Wholly destroyed last year from trying to reposition their portfolios every other day according to trump. Well i think heres what you have for 2020 and for 2021 you basically have conflicting pressures the uncertainty around china which in this deal perpetuates for the rest of the next of this year and probably into next year as well thats not good for the markets number one thats bad number 2 every 4 to 7 years capitalism everywhere in the world has a downturn we call that the Business Cycle every 4 to 7 years the last downturn here was in 2008 and 9 we are over due and everybody in the stock market who knows anything about history knows that and no one knows exactly when it will hit but that it will hit in the next year or 2 you can bet on it and that means that the stock market is going to be under a lot of pressure on the plus side the Federal Reserve keeps pumping wild amounts of money into the stock market the government Just Announced that we just passed 1. 00 trillion dollars in government deficit spending so youre boosting the economy by the way done by a Republican Administration which used to criticize all that kind to behavior theyre doing that that will boost the economy but i dont think that Strong Enough for the headwinds from the Business Cycle and the chinese uncertainty of course well talk further about this in the coming weeks but professor wolf i want you to hang in there for about 90 seconds we want to set up this next story and get your reaction to it just hang there for just a moment. On wednesday russian Prime MinisterDmitri Medvedev announced the resignation of the countrys government of the resignation came shortly after president Vladimir Putin gave his annual state of the nation address where he announced plans constitutional reforms following that speech the president the Prime Minister announced his resignation and president putin thanked him for his service. To the. As the government of the Russian Federation would have lined the president of our country with an opportunity to make all necessary decisions for changing the russian he would have had you meet and in these conditions i believe that it would be right that the incumbent government of the Russian Federation resigns and corded on verticals on the 17 of the most of the Russian Federation 2 of them for my part and i would like to thank you for everything that has been done at this stage of our joint credit with it and id like to express my satisfaction at the results achieved that you would not everything of course he succeeded in everything never works out in its entirety and during the state of the nation the president said he plans to create a new position of deputy secretary of Russias Security Council which would be offered to met better job under the proposed reforms of the state duma russias lower house of parliament will be given the authority today in the Prime Minister and the rest of their cabinet the process will not go into effect until after a referendum from the russian people the kremlin said today that president putin met with the head of the federal tax service mikhail mistrust and and offered him the role of Prime Minister which he has accepted so were going to bring in bring back a presser Richard Wolffe right now host of economic update back in to break this all down a professor wolf what do you make of this resignation of the russian government or what are we seeing here. Well i think we are seeing an adjustment inside russia to the new and different Global Situation that they face they want to make some changes economically they have done really quite well they are looking at exports of energy to western europe far larger and more lucrative than what they had as little as a few years ago all their strategy which in part they chose in part was full forced on them did not depend russia on exports of non energy goods the way for example the chinese economy is dependent on exports of manufactured goods so they. I havent been hurt as badly as germany has and other countries have the United States included by this trade war its kind of a peculiar moment for them and i think theyre looking at a new and more powerful and economically more secure situation in the world you see that theyve kind of moved in to become the key player in syria so they are they have expansion a little bit of their range of influence i think theyre feeling their oats and theyre going to make some changes and they feel that they are in a stronger global position and a stronger dont mess that position and they probably are now knows the situation with a government signing have any impact on the russian economy or any of their economic relationships the market seems to be approving this as its rallying the model x. As rallying 1. 6 percent. I think that most people dont think that will have very little effect if this is very smooth everybody is congratulating everybody else everybody whos quitting is doing it without a murmur of opposition or resistance so this is all very choreographed very smooth and i think its being read probably correctly by the markets as a sign of the selfconfidence and their security there are problems inside russia there are problems within the equality in that society ever since the transition from the Old Soviet Union those problems are not going away theyre building up as they are elsewhere in the world thats going to be a problem for mr putin part of this is probably an attempt to see how to manage that thats a kind of an uncertainty but broadly speaking the market see this as russia becoming a more important player than it has been since 1909 and the collapse of the Old Soviet Union professor Richard Wolffe of fear of understanding socialism thank you for breaking this all down for us we needed it today. What a pleasure to do. As wall street analyst initiate coverage on saudi aramco most agree that the upside has already been priced in and issued a neutral rating all except j. P. Morgan christian issued an overweight rating with a price target of 37 reales representing a 6. 6 percent from current levels new is predicated on stephan Growth Outlook and iran goes ability to sell oil at a premium it also has a low debt to equity ratio which will allow it to distribute a higher percentage of cash flow now saudis Production Capacity is rising from 15000000 from the current 12000000 citing increased appetite by the kingdom to regain its share of Global Oil Demand as the entire oil markets tighten meanwhile saudi aramco speer Abu Dhabi National oil company is also slowly fund raising and knock it seeks to reform and modernize similar to iran and has raised more than 19000000000. 00 over the past 3 years from overseas investors including k k r and black rock and knock plans to invest 45000000000. 00 to expand its refining and petrochemicals operation and is looking to boost its International Market share for crude and fuel the reforms are spearheaded by Abu Dhabis Crown prince Shaikh Mohammad bin ziad who seeks to restructure the company to run more efficiently one like a major than a state controlled monopoly. Time now for a quick break but right here because just on the other side of this break. Coming under the u. S. Overthe decision to pursue. Development of the british association. To help us look into the details of the pressure and what the future of the British Isles may look like. The numbers at the close. To the stock market going. Back and. Then the bed. Because they are National Security and the stock market its. Really smart thank you. So much people personally. And. Its called for profit. On a space flight you literally leave all your problems behind you fly high and above everyone and everything. You see. Disappear you see the planet is not in schools with Different Countries marked in different colors separate from one another you see. Just another big into. Space station on a mission in the vastness of space just like the. Description. Given for the owners. To choose had Food Industry is telling us what to feed our pets more based on what they want. Necessarily good for the. People believe we have animals that have. Allergies we are actually creating these. Huge problems i believe can be linked to very simple problems. And some dog owners so heartbreaking stories about their pets. To larger corporations are not very interested in proving or disproving the value of their food because theyre already making 1000000000. 00 on it and theres no reason to do that research. Welcome back amazon will invest 1000000000. 00 into Small Business in india over the next 5 years the companys c. E. O. Jeff bezos said at an event in new delhi on thursday basis says the 1000000000. 00 will help manufacturers resellers and brands in the country who rely on the platform the c. E. O. Added that he hopes the investment will help export 10000000000. 00 in indian made goods over the next 5 years the play to sports and even Prime Minister in the hendra modis make in India Campaign during the event in new delhi at the amazon founder touted the relationship between the u. S. And india saying i predict that the 21st century is going to be the indian century the most Important Alliance is going to be the alliance between india and the United States the worlds oldest democracy in the world large. Democracy has that had already promised more than 5000000000. 00 towards growing their Indian Business and the latest pledges come after the Competition Commission of india said it was investor investigating amazon and Walmarts Flipkart for alleged anticompetitive practices. Goldman sachs is up over one percent today on earnings at a beats analysts estimate for revenue but profits dropped due to a 1100000000. 00 litigation charge quarterly profits rose 23 percent and excluding the Legal Expense front which stems from the settlement of the one m. T. V. Scandal profit was at 7. 64 per share the banks Global MarketsDivision Posted a 33 percent increase in revenue mainly driven by bonds now in the Private Banking side revenue grew by 52 percent Investment Banking revenue however declined due to a drop in amman a activity at the end of the year in summer a net income was down by 24 percent to 1920000000. 00 partially due to the Legal Expense and partially due to the 42 percent surge in operating expenses the bank is now in advance discussions with the d. O. J. To pay about 2 1000000000. 00 to resolve the investigation into one m d b later on this month goldman will hold its 1st ever investor day where c. E. O. David solomon will disclose the results of a Business Review and his plans to restructure and drive growth. The International Fight over hallway technology continues as britains new Prime MinisterBoris Johnson says that if critics of follow want to oppose the technology they need to give a reason for its exclusion in the government contract and provide an alternative johnson went on to say quote the British Public deserves to have access to the best possible technology we want to put in a gigabyte broadband for everybody now if people oppose one brand or another then they have to tell us whats the alternative the Prime Minister also pointed out that he wants to protect britains role in the 5 eyes intelligence sharing agreement between the United States britain canada new zealand and australia the us has been applying pressure on multiple countries to block away from building out its 5 g. Infrastructure now in fact should the trumpet ministration officials have said that allowing it to have access to the u. K. s intelligence sharing would be nothing short of madness now joining us to discuss this further is hillary ford which board member of the British AmericanBusiness Association because that so Boris Johnson was extremely careful to talk about keeping the 5 relationship why did you feel the need to make that point so heavily well because its been a very long standing global agreement of course as you mentioned the us Canada Australia new zealand and the u. K. And i think i would go though to defer to Andrew Parker hes the head of m i 5 and he was charged with the investigation as to whether this is safe or not which was initiated by bob c. Bob seeley was on the is on the u. K. Foreign Affairs Council a conservative politician and they had extensive investigation as to whether it would be safe or not and basically because Boris Johnson was caught between a rock and a hard place hes made the pledge you just mention to the British Public to to maintain compatible with being very competitive and maintain that versus this investigation it will in the end andrew paulk of them live. 5 has said he does not think that while way will jeopardize National Security i think its not so much a case as what is happening now its what is the possibility of what could that software do because we know back to 2010 Michael Hayden the head of the u. S. And u. S. Agency actually has said look this is nothing more than a vehicle for chinese espionage. This is actually interesting because of this that they could be theres so much concern over while Great Technology but theres never been any actual evidence that the company does allow back door access to the chinese government. At this point how are they able to continually say this well they might well everybody might rise and sprint. So what do you make of that i think its the fear with the unknown and with the chinese i think its because there have been cases against while way on the National Security advisor i just mentioned Michael Hayden it was again going back to 2012 cases were opened want to about fraud and one about espionage commercial espionage and i think its because of those cases theres always that expression where theres smoke theres fire and i think that those sort of like basically expose some sort of fear was thats never been that way with apple or verizon or any of the others and you have a question that actually did follow up on that when it comes to apple whos receiving whats happening right now about the back door in the battle for as we saw this after december to do if you were so you have terror leader terrorist attack yes absolutely awful situation yeah but the u. S. Government wants them to give a backdoor access into those phones because its you know there is the line that is that is a global debate which is when it comes to terrorists do you want to have access or not i mean people want it but then like you say it could be anything it could be for commercial espionage absolute yes in the end its about whoever is abusing the technology really cant blame the technology is it going to be is going to be a bad element and of grokked so now germany was also recently threatened by chinas over its possible exclusion of way over its countrys 5 g. Build so what was the. Well with germany theyre in a very different situation of course germany is in a different situation because a quarter of the kamani factoring goes into china and so this situation is the ankle a muckle is very pressured by this the members of her party have actually opened a case where they want to pos legislation to ban while way into germany problem it is less so dependent on the 3 manufacturing access into china and the ambassador to germany from china who he has actually threatened that you know we might not accept those calls into china anymore so the issue there is this legislation thats being started by members of the opposing party and absolutely i mean it seems like a lot of this i mean especially with what was happening in germany and now in the u. K. It is a lot of pressure from the United States who kind of started this battle against weiwei or at least made the biggest push on it and a lot of pressure from absolute hiller for it for which member of the euro board member of the British AmericanBusiness Association thank you so much for joining us today. And finally some good news for the legions of nintendo and video game fans out there Universal Studios japan says it will launch a Super Nintendo World in osaka in the summer of 2020 the new mario centric theme park is slated to open in time for the 2020 summer olympics which take place in tokyo which will funnel massive amounts of tourist to the country Universal Studios japan has been awfully koyo about giving any details but launched a new website and probably on tuesday with a little bit of fancy stuff so with that announcement they promise that the park will be a blend or will blend the physical world with the world of the video game and allow visitors to feel as if they are playing inside their favorite nintendo video games now kristie it seems to me were stepping away from the idea of Virtual Reality and now were going to reality reality but still its a video got still of the games are as they are gaming in reality like an escape room thing but way more fun an animated kind of. And i saw some tech journalists who actually were at the a lot at the event in tokyo and they actually had these cool little watches that were branded with the nintendo characters and they were able to interact with the blocks and things around that will be around there yeah itll be around the park so its going to be its going to be a fascinating they will have to check it out. By this time you can catch a boom bust on direct t. V. Channel 4821280 or is going. To 79 or as always you can hit us up at youtube dot com slash boom bust archie see you next time. You know world of big partners. 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 smart 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 were watching closely watching the hawks. Lose in my. Pants it was a time of our. Visit was a bit. More about. What we were doing the same. Scene the guy doing the same but im before. Them by the. By the imam obama. Must lead. Keep the slime to force new the focus on the so few cities to enjoy what. You see in the. Most with. Young. Boy. If you change. The law. This is a story about what happens auster a stray bullet kills a young girl in the streets. What happens to her family and daughters in florida the mother daughter is buried in a cemetery in healing this is with your head what happens to the community the public was screaming for a scapegoat the Police Needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court the. Shock shock is far society we feel. We dont know just from. That end of this trial unfortunately you. Will still not know all children. Lead. He. Called. Me. Back. A major upheaval in russian politics a lot of. A new Prime Minister that saw for the government resigns following the president s proposals to delegate more powers to the russian parliament. Press t. V. Gets pulled from you tube in the u. K. Again just hours after been reversed this comes as posts supporting the assassinated top iranian general. Were taken down by social media giants. And the new European Commission president faces further scrutiny over claims sensitive Government Data from the phones during a time as defense secretary