Response and how the tensions between the 2 superpowers are spilling over on the world stage and coping 1000 cases continue to surge in the u. S. But how do the states stack up against the rest of the globe well take a look around the world but amid the surging coronavirus cases in the United States some pharma stocks are seeing a pop on the hopes for a potential vaccine but could the optimism be a bit premature later on we jump into the race for a vaccine and the possible supply chain issues that could arise once a cure has been found we have a packed show today so lets dive right in. And we leave the program with the latest salvo in the back and forth between the United States and china over the Hong Kong National security act now on tuesday u. S. President donald trump signed into law the hong kong autonomy act previously passed by congress which imposes sanctions on chinese officials businesses and financial interests institutions that violate hong kong autonomy now a spokesperson for the Chinese Foreign ministry respond to the legislation saying sanctions could be levied against the u. S. Its the implementation of Hong Kong National so weve never seen in order to see guys only interest in china make unnecessary and impose sanctions on us personnel and. Correct its mistakes implementing the so called. Actual and stop interfering in any way in chinas internal failures including Hong Kong Affairs if the United States when doing china will definitely make. Them meanwhile the us president also signed an executive order ending preferential treatment for the special Administrative Region wednesday morning secretary of state address the executive order putting the blame on china. As he said in may if china treats our economy as one country and a single system so must we. General secretary made a choice to violate the Chinese Communist partys promises to hong kong in that were made of a un registered treaty and he didnt have to do that he made that choice we have to deal with china as it is not as we wish it to be other nations are arriving at the same conclusion. In announcing that he had signed the executive order in legislation President Trump also at was asked when the last time he had spoken with president xi jinping of china. I want to know whens the last time you spoke with president g. Of china and do you plan to speak with him in the near future no i havent spoken to one no i dont have no plan to speak to. With all of this in mind lets get some expert analysis from presser Richard Wolfe host of economic update and john dean of the Miami HerbertBusiness School thank you both for being with us today dean quote i actually want to start with you here what is the significance of this hong kong autonomy bill and the executive order ending preferential treatment will this affect hong kong status as asias financial hub. I think it is significant for the following reason it raises the perception of risk associated with doing business in hong kong now much is going to depend on whether or not china goes fost and furious in implementing this security act and much depends on whether or not the u. S. Responds by aggressively removing these preferential treatment or whether or not both countries have made the point and now take a more measured approach in terms of the implementation of the public stance but let me say that its possible that real estate prices in hong kong equity valuations in hong kong could be depressed as a result of this its possible that they could be capital outflows singapore looms large as a potential alternative to hong kong in terms of the Financial Services functions that hong kong currently provides so i wouldnt say we should be panicking at this point regarding the future of home kong economically but it certainly cause for concern much will depend upon the rapidity and enthusiasm with which the 2 governments execute and implement the policies that are in the legislation and now professor wolf we spoke with you. A lot about sanctions in the past on this program are these sanctions that are going to into effect are they going to affect china the same way that weve seen them hurt the likes of iran venezuela or even cuba among the other nations that the u. S. Has sanction. Not all this nimble lancer is not all because china is an economic. And everyone and most of the country is what it really are prisoners of power how things might be described could be frankly as an american i am astonished by the grotesque act quickly hong kong will remain a colony and in poland on the chinese when they were weak they always resented it it was going least we cannot for 99 years it expired 28 years ago or and the chinese have been saying for 20 years name one that territory which will go always there for centuries integrated back in their society every business that ever invested in hong kong over the last 20 years which is most of them knew exactly what the future held in seoul or whatever you think of the way the chinese are doing it i dont think it will make our share of the difference those decisions that take each risks hadnt been made and mostly asked during my next trump who has good reasons to want people to look and if you other than the disaster of the American Economy it wont pass as the kind of awful that these things usually are and now dean quotes i want to kind of go back to that last point from the ministry of Foreign Affairs there with china what type of sanctions might we actually see from china inria retaliation it is really a similar situation where it might be americans doing business in hong kong and things like that. Well 1st of all this is another piece of an ever evolving and complex relationship that is to tary orating by the minute. Weve had the trade war weve had taiwan weve had islands in the South China Sea weve have the weak has and the human rights and now we have hong kong in the mix as well. I think that as i said before much depends upon what the us does because during the last 2 years whats been very noticeable in terms of chinese diplomatic behavior is that they react in a very measured way to whatever the u. S. Sanction on trade has been and i expect to see that same measured approach in the coming weeks and months with respect to sanctions that they impose they will not be they will not be overly aggressive in their sanctions they will be looking very closely to see what specific executive orders implemented by the various branches of government in washington that have been given 15 days to execute the president s order you know you have to remember also the United States runs a 26000000000 dollar annual trade surplus with hong kong right there are Many Companies in the us that are benefiting from that and dont want to see that go away and i want to follow up on some news from tuesday regarding the u. K. Barring Telecom Operators from buying weiwei equipment going as far as having them remove gear from their Network Infrastructure by 2027 now the chinese moshe weighed in on this actually blaming the us. Without any concrete evidence the. The unfounded risk as an excuse in cooperating with the u. S. To discriminate suppress and exclude Chinese Companies the u. K. Blame violated the market economic principles and free trade rules and breach the relevant promises made by the u. K. The wrong the season seriously damages the interests of Chinese Enterprises and severely impacted the basis of mutual trust in sign of british cooperation now the us president actually essentially backed of this claim saying that this was his do it. We confronted untrustworthy Chinese Technology and Telecom Providers we convinced many countries many countries and i did this myself for the most part not to use while away. Because we think its an unsafe Security Risk its a big Security Risk now the u. S. On wednesday also placed vsa restrictions are chinese tech firms including weiwei citing human rights abuses so professor wolf i want to bring this back to you why are we seeing other nations acting on the behest of the United States when it actually comes to while away. Well 1st of all there are many nations that mr trumpet that we spoke to who ignored what we had to say of record actually will not get that for their response number 2 with the british had originally decided all we can organise a truck apparently Boris Johnson built and that will be in nearly as much economic different mr trump is hoping desperately for a trade union or a bailout with their own frequent breaks and these were a good trade there im not clinging on to american sanctions in precisely the way that other countries are not if you will own the notion that we called weiwei as an official relationship with the Chinese Government and the Chinese Military which they do is good grounds for mad be only. Then you are in the same inviting every country on earth competes relationship with microsoft google apple and all other Major American Companies who have really you know we met with the American Government and military for decades professor Richard Wolfe host of economic update and john quote of course we could we go into this for hours thats the dean of the Miami HerbertBusiness School thank you so much for your time thank you thank you. And lets turn to the copan 1000. 00 pandemic which is still gripping the world despite efforts to reopen economies now the u. S. Has been a hotspot for cases of the coronavirus for months and set another record for new daily cases reporting more than 67000 on tuesday so lets take a global look at the spread of the virus with r. T. Correspondent side have a day or so where we were wide. Right now there is more than 13500000 people around the world diagnosed with a cold in 191717 point 9000000 over which have occurred have recovered and more than 583000 now here in the u. S. Over 3500000. 00 confirmed cases and 45 percent of which have recovered and another 139000 dead now looking also at the trend of the 10 most affected countries now the u. S. Is of course continuing to climb up now brazil is going down a bit but still averaging about 45000. 00 cases per day india is going up significantly while south africa dipped just a little bit but still not my much now other countries like peru Mexico Colombia and iran remain the same average cases per week but one country that you dont see here in the top 10 is a chilly day thats now being replaced by iraq now mosul which new cases being contributed to casinos gambling halls and nightclubs in the capital backed out all of which have been ordered to close so well see in the coming weeks if iraq remains on the top 10 Countries List brant and now heading back to the United States here what are we seeing when it comes to hotspots within the states. So the us right now is reporting an average of 62000. 00 and new cases per day now more than triple the average just a month ago brand also theres new hotspots emerging in places like. In states like oklahoma nevada which are now reporting a Record Number of new cases hospitalizations and deaths now while other states are seeing a new surge in numbers the majority of new cases remain in texas california and also florida but heres the thing florida has about half the population of california and about 25 percent less than texas and as of tuesday florida had the number 2 death rate in the country in fact the number of new cases reported in florida alone or the past week surpasses the total count in most European Countries and you know if loredo is its own country it would have the 8th highest case count in the world but were as new cases in florida are mostly in the Miami Dade County now theyre spreading to other major cities in florida like jacksonville orlando in naples same petersburg in tallahassee so its going everywhere in florida and currently 54 hospitals have reached i. C. U. Capacity in florida with 0 beds available now 10 of those hospitals are in the Miami Dade County now another 40 hospitals show i see use a 10 percent available capacity or less and then theres another thing is that both the c. D. C. And the World Health Organization brand recommend that people were masked as a way to slow the spread of the virus now in fact the c. D. C. Even stressed that the u. S. Could get the pandemic under control in less than 2 months if every american were mass but while a california and even texas have issued requirements to where. Face coverings in public florida still refuses to set any kind of mandate once again living it up to local cities and counties to set their own rules so well see and as weve actually seen in the video going on social media american some americans just are refusing to wear a mask saying that its a friend and theyre our freedom of choice now lastly really quick i just want to discuss testing brand as the u. S. Administered more than 760000 tests on tuesday now thats the 2nd highest number of tests conducted in a single day but i also want you to hear what the president had to say about the testing this week. So we do the testing and by doing the test we we have tremendous numbers of cases if we didnt do that as an example weve done 45000000 tests if we did half that number youd have to have the cases probably around that number if we did if we did another half of that youd have half the numbers everyone would be saying oh were doing so well in cases. Yet even president trams own medical advisers including Dr Anthony Fauci have said that the recent surge in cases is a sign of an expanding outbreak and not increased testing brant r. D. Correspondents are tabular thank you for keeping us up to date. And time now for a quick break but here because when we return the race for a cold 1000 vaccine is heating up and markets are responding to the optimism but is it truly ward that straight ahead we take a deep dive into the race for a cure and the shifting stocks and as we go to break here are the numbers at the close. Of the so. You cannot go with yeah you like. Segregated anywhere by social class Law School Class people also in poverty 1st blame if youre born into a poor family odd youre born into a minority family if youre born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger than you born into generational poverty. Its a tough tough fight every day so you meet your needs and the needs of your family. Is youll be via reflection of reality. In a world transformed. What will make you feel safe from. Isolation from all community. Are you going the right way or are you being led so. Direct. What is true watch is faith. In the world corrupted you need to descend. To join us in the depths. Or a maid in the shallows. When i was told small seemed wrong. But old girls just dont know all. The world to get to shape out these days you cant get educated and in detroit because betrayal. When so many find themselves worlds apart we choose to look for common ground. And welcome back for all the talk of needing a krone virus vaccine it appears that in record time we are very very close to having one now according to the United States top Infectious Disease specialist Dr Anthony Fauci the 1st covert 19 experimental vaccine which was developed by his colleagues at the end i h. And would earn a will start its most important step around the 27th of july now this will be a 30000 person study to prove if the shots are Strong Enough to prevent against the corona virus President Trump is applauding the move saying that the u. S. Will reach a vaccine in record time through operation warp speed we will deliver a vaccine and record breaking time were doing very well on the vaccines we have many many different vaccines being studied right now many of which are looking really good and were ready to distribute the vaccine when we get it were also. But record time in reaching a vaccine can also be problematic as some Health Experts are warning. That we ought to be careful we dont want to rush the science and we d all know that developing bank scenes is a difficult process its not always a Straight Line so if everything works well you can anticipate maybe the beginning of the year sometime 1st quarter of the year we might have some results and it would be wonderful. And everything is working right on schedule. And joining us now to discuss our boom bust cohost christine and ben swan now christy i want to start with you on this madonna has been out front of just about every other pharmaceutic. Suitable company when it comes to this vaccine and that has translated into skyrocketing stock prices give us an idea of how this latest news is landing on the burner shares are surging today as a company says the corona virus vaccine is producing some quote robust results in all 45. 00 its patients so it was trading up as high as 16 percent in after market hours upon news that the investors reigned in their excitement so in terms of the stock it is now back to the previous highs back in mid may upon the 1st indication that its vaccine was a potential candidate in the fight against quanah virus now over the past 2 days madonna has jumped about 40 percent obviously on this piece of news today but also on the fact that on monday the nasdaq indicated that madonna would be included as a component of the nasdaq 100. 00 and next starting july 20th so this means for the stock it means more liquidity and more exposure for medinah through passive e. T. F. And next investing which is something that has been gained traction over the last decade or so year to date in total darkness now over 300 percent as it started january just under 20. 00. Youve been a pretty vocal critic about concerns over the and i. And i want to point out that madonna has never brought a product to market yet has received 500000000. 00 from the government and theyre remarkable other Companies Including novaks which is actually received 1500000000 dollars to develop a vaccine by 2021 again never having brought anything to market so what about this latest announcement gives you pause. Well that you just touched on some of the right there there are really 3 issues with modern and number one the fact that so far in their process of creating this kind of fast tracked vaccine well theyre now has skipped over very common practices not law but common practices that are used in order to develop a vaccine one of those is to conduct animal trials will learn a decided they were not going to conduct animal trials are going to skip over that step thats a big step to jump over also the fact that as you pointed out they never brought a drug to market in the entire history of the company now think about that that means they have never been able to get f. D. A. Approval for the development of any kind of drug and then thirdly and i think this is equally as important as the other 2 issues is the fact that will do is not using covert 19 theyre not using the actual virus in the development of the vaccine work over 1000 that is a highly unusual step to take. Im sorry i got to follow up on that last point youre saying that when it comes to of the vaccine would earn a is not using covert 19 how unusual is that and if they are using covert 19 what exactly are they using right so that is very unusual and this is why moderna claims that they are kind of the new wave the next generation of pharmaceutical companies because what theyre doing is theyve theyve essentially developed an artificial am already a strand that theyre using in order to essentially trick the body into thinking that it has a very like case of corona virus which triggers protein spikes in your system that will fight off the actual virus but this is theoretical in many ways its never been done before and it certainly has never been put into practice before and whats really concerning about this is that will during a started down this road back in december working with the end i h h so i insist were doing this modernity been working with them thats why they have the fast track but it. They are using a whole set of processes here guys that are not common Vaccine Development going to little time here but i want to touch on one thing here we do know that earlier this year the 5 top executives have sold 89000000. 00 worth of stock even as theyre attempting to raise up to 1000000000. 00 in a Stock Offering do we know why they actually did that well in total now that thats about a little closer to about 100000000. 00 worth of stock sold in total so these sales and madonna theyre triggering a bit of a political debate because you dont want to be exploiting a crisis to make money but the truth is that any company thats going to sell a vaccine is going to be making money on a crisis so that for example the companys chief medical officer he cashed out the majority of his available stocks and options and i think over 35000000 since january so i dont believe that theres any misconduct here like most companies there is a lock up period for execs and fixed schedules so the execs are selling in order to hedge their risk and exposure and also to play into the market optimism on positive developments so i dont think its so much that they dont believe in their product theyre hedging so they dont put all their eggs in the basket because back in may there was over enthusiasm over excitement all excitement over something thats been yet to deliver so when the markets pricing over something thats already been delivered you will want to cash out i think its very reasonable ben swan and christiane thank you both for your time thank you. And thats it for today you can catch us on portable t. V. Find it at portable t. V. See you next hour. You. Know my one wins in my. Painting bows of a time about what it was it was a bit. More about. What when and when the side of the. Scene that im going to fit in but im before. Him by the. Body im not. Going to. Remember that breeds to honest people can disagree this concept has essentially been the bedrock of western civilization since the end like its all so before agents of the 1st Council Culture is putting all this question we now need. That. Donald trump unfurls economic theory in asia as the us provoked hong kongs special trade status and its china with new sanctions while beijing because. The perfect murder of a young female soldier in texas triggers a wave of sexual abuse claims by other personnel as u. S. Commanders are. The problem. With. More of those stories you can. Stay with us for more quality programming. Folks next up im done