Transcripts For RT Boom Bust 20240712

10 cent and boasts 1200000000 users mostly in china now the app is however widely used for professional and personal communication between those in china and elsewhere now theres a lot to go over so lets get some expert analysis cohost christine and hilary ford which board member of the British American Business Association thank you both for joining us today now christiane i want to start with you i know weve talked about the tick tock angle of this at great length but what do you make of adding to the tech war between the u. S. And china and what impact will this have on some of the American Companies that we chat owner 10 cent actually has a stake in. Is actually only a matter of time before we carry even ali baba with targeted attacks because the cold war is really escalating the sea has a relationship and train between the u. S. And china and its breaking down even further so it would be naive to think that this would only. Effect qual way last year so as part of this new Clean Network order is prohibiting the us president from doing business with tech talk and we chat meaning that they will not be available to download also the Apple App Store or the Google Play Store so banning ticktock was one thing but now messing with the chat you could say that we chat is the backbone of social media in china to say that its just another small to medium essay abbots really understanding it because its a messaging app its a Marketing Tool its a pain and savings app is a news portal at the online sales hub and much much more with a user base as you mentioned or 1200000000 so this fan is coming from the same place as the ban on holloway its a place of fear that the u. S. Is no longer the global dominant tech innovator of the world the u. S. Has led Tech Innovation for the last couple of decades but recently ever since the rise of quality in the rise of 5 g. That threaten the u. S. His dominance on communications with the rise of tick tock that there in the us is dominant and social media and eroded on its influence and finally we chat that there in the us is dominance in the area Digital Payments and then tech so Everybody Knows that the future is tech and whoever dominates tech will be the next superpower so yes the u. S. Is targeting these particular companies because it feels threatened and find self in a very unfamiliar 2nd place and by banning we chat as you know that will have Major Company consequences for companies u. S. Companies especially apple even though apple is not owned by 10 cent but apple will be the most affected because if we chat is removed from the Apple App Store no chinese citizen will be buy another apple i phone because we chat is integral to everyday lifestyle of virtually everybody in china and ironically as apples sales decline the biggest winner and biggest benefactor would actually be quality today now hillary i know youve been critical of the threats posed by the chinese that Companies Including huawei do you agree with these news from the u. S. Government to essentially of actively banned search talk and. Well its not a question of so much the brand about being critical as a question of do we want to have come do business with companies who actually directly report to the Chinese Government and i actually will go back rather than my opinion lets just go back to what that chinese minister said when he said about he used the word fair and if you want to talk about fair if theyd like to talk about fair lets be fair well c. N. N. Is banned in china the b. B. C. Is banned in china the wall street journal is banned in china the new the Washington Post is but banned in china the New York Times is banned in china and china you cannot use whatsapp for any personal communications and you cant use skype you cant use Google Search so the chinese say they want to be fair if so goody goody lets be fair they can open up their market to c. N. N. B. B. C. Washington post New York Times wall street journal and i could go on theyre not they dont allow us to use skype and they dont allow Google Search so lets go back and say you want to be fair this is how we can be fair and christy made a very good point about the fact that the irony of it is actually while weigh them will become stronger in china but the thing is its the chinese also that are scared the chinese are so scared thats why they ban even facebook on top of all the things i mentioned so whats important here so look at fairness the chinese have never been fair thats not my personal opinion thats just the simple fact they can open up their markets and open up ours i think john was one of the 1st president s to actually say wait a 2nd were not going to do this here if we cant do that there thats what hes been saying whether its the e. U. Or whether its china lets be fair open up china and thats a different discussion but theyre not going to do that. You know when were talking about these Chinese Tech Companies weve seen the u. K. Kind of follow the lead of the United States some who are critical of china. Move when it came to while we kind of consider them the 51st us 3 and weve seen any move from the u. K. When it comes to talking which are what i think is not im just going to answer that a moment but i think when you mention about the. U. K. Really its the u. K. Shares with the us actually also in canada and australia and new zealand we share in the 5 eyes program in terms of intelligence and thats what the concern was with regard to walk away now to your question i think its not so much being a 51st state its that for example this coming monday liz trust the International Trade separate a shes going to be over here talking about u. K. U. S. Trade deal u. K. Has proven to solve over obviously a great many years 2nd world war 1st world war to be a tremendous ally of the us the us has been able to count on the u. K. In every single instance in every single war in every single conflict so i think that the u. S. And the u. K. Still enjoy somewhat of a special relationship now exactly to get to your question i think that the u. K. Has great concerns about this in duncan smith whos a former conservative leader hes leading sort of the charge to precious pressure Boris Johnson to say lets do the same thing we did with wa way and eventually ban it and as you know it was really off to the whole virus then this is when they started to clamp down on while wait so i think youre going to see probably the u. K. Yes leaning the same way as the us now i know there could be a lot of back and forth here between you would christie on this issue but theres one more aspect that i have to ask you about pretty to tell us what this means for the job of ministration is also recommended new rules for Chinese Companies which shares traded on u. S. Stock exchanges no no actually very little but essentially forcing them to give up their listings and find a new exchange if they dont submit to us audit requirements critically tell us whats going on there now so this has been in the works for some time now under this plan chinese auditors would have to share their work papers with the us audit regulators and this mood comes amid the rising tensions between washington and beijing over the growing resentment the administration feels about Chinese Companies growing and profiting off of u. S. Capital markets and if you recall this threat was made last year during the height of the trade war when president from threatened to delist Chinese Companies while. It spooked the markets most to analyze realize that that was a bluff theres no way that theres no reasonable way to actually go about it however with this new ruling there is now a blueprint a guideline a legitimate guideline for the process of the listing Chinese Companies and so this is a move that threatens to cut off Chinese Companies from the u. S. Capital markets and basically choke off their access to the quick so yes this does hurt Chinese Companies it also hurts u. S. Investors too because who was responsible for growth the last decade where were they all the investments flowing to and where did all these massive portfolio returns come from all over china basically came from growth in china over the last decade so certainly didnt come domestically and thats why even though china will hurt us investors will not get any opportunities for their to invest in china and their future growth and its a lose lose situation for both what were going to continue this broad conversation but alas we are out of time hilary ford which board member of the British American Business Association thank you for joining us of course the idea there because we have more for you later in the program. Markets are mostly up for the week despite the increased tensions between the United States and china so lets see how things ended up with star in russia where the mo x. Is in the green for the week as 1800000 Retail Investors open brokers should know this is very interesting with the index in the 1st 7 months of the year investors pushed to protect their portfolios as a record 821000 Retail Investors executed at least one trade in july alone lets move over to asian markets now investors are waiting on the u. S. To reach an agreement on that new Coronavirus Relief bill but unfortunately friday afternoon it seems that talks are stalled the shanghai composite finished up after a volatile week now according to the price a private survey in july chinas Services Sector showed Slower Growth compared to the previous month now the index was down 2. 96 percent on friday. Due to increased tensions between the u. S. And china well see how that latest spat over tictac and we chat affects markets moving forward over in hong kong and the hang seng finished just barely in the red for the week now the index took a major hit on friday and lost more than 1. 7 percent on the day due to that u. S. Ban Semiconductor Manufacturing International Corporation stock took the biggest dip dropping 8. 7 percent in japan the nikkei was up for the week it started with 2 solid days of gains earlier in the week and then slipped only about point 39 percent on friday still enough to end the week in the green lets move to india where the sensex it is up for the week as well after that pretty flat friday the nifty 50 s. Top gainers asian paints and surged nearly 5 percent still india has a long road to recovery as the country has recorded more than 2000000 coronavirus cases and more than 41000 deaths in australia the a. S. X. Its up for the week as well despite 8. 62 percent decline on friday when the reserve bank of australia issued a bleak Economic Outlook still mining continues to push the index up and moving to south africa the all share is in the green after for sure 8 days of gains the countrys Stock Plunged again on that u. S. Ban on chinese owned tick tock and we. Had apps which will happen in the future were going to is going to move over to europe and the americas and see how western markets ended the week in london the footsie its up for the week after a surge earlier this week investors kept their eyes on better than expected unemployment numbers out of the u. S. On friday theyre also looking at those u. S. China tensions on that tech band now the french cac in the german dax there also in the green following similar trends in june german industrial output surged 8. 9 percent forcing a 14. 9 percent increase in exports fueled mostly by china lets go across the atlantic were going to go to brazil where the its pretty much flat for the. Leading just positive as emergency payments to millions are set to expire this comes despite economists trimming the countrys 2020 g. D. P. Forecast a 5. 7 percent model milder than the expected 6. 5 percent in mexico the b. M. V. Well thats up for the week as data showed nearly 5000000 people return to work even though informal unemployment numbers are low now the peso also rose this week for the 1st time in 7 sessions and here in the u. S. All of the seas are up the dow the nasdaq and s. And p. Are in the green for the week despite some losses on thursday again thats all due to that impending u. S. Ban on chinese social media apps some of those losses were cut by the better than expected july payroll numbers that increased by nearly 1800000 and well finish things up in toronto the ts x. Is also in the green for the week as Energy Stocks really added to those gains despite some losses on friday or a week and on concerns of a slowdown in demand recovery on the resurgence of coronavirus cases canada also reported some positive job numbers on friday adding 419000 jobs in july its going to be interesting to see what the latest escalations in those tensions between the u. S. And china will do to markets moving forward as well as the world trying to get a handle on the coronavirus pandemic and of course as we mentioned what will happen with the stimulus package here in the u. S. And that is your Global Market walk any time now for a quick break but hang here because when we return well take a look at the spread of the covert pandemic around the world plus as so much of our lives have moved online because of the pandemic could we see the term internet celebrity take it to a new level and as we go to break here the numbers of the clothes. I. Summer solution starts right where we come up with solutions to all the problems we cover on the other shows we do anyway today weve got. The moon edition with a special guest mark valley incremental. How can you explain love ive been to 82 countries ive been to open i came here and in those 3 days i just filled with hope. And he kept pretty isnt the same show. I made my decision to come here because i felt and you i could build a new life suited to. Companies and. Go as a free man. God decided that this money is no good to be free. If at all. My one dream is that all my children d find the same kind of happiness i do. I love my home i love cold weather i like the culture like the history i like everything about it. And i know that. I am joined a russian fama. A shirt. An american. Hero she. Wanted to go. On the original. I like most americans growing up after the war the bombs were a great thing they ended the war they say hundreds of thousands of lives on both sides and thats what my grandfather always said was his reason for the decision. Truman was hoping for. Well strategy one was to drop the bombs and hope that japan would surrender to number 2 the americans were trying to send a message to the soviet union there was american poor planning in october 145 and had chosen 20 targets and russia. No shots. Actually. Go to. Which your thirst for. Welcome back as we track the spread of covert 19 experts are seeing a correlation between testing a newly reported cases so lets go ahead and take a look at those trends with r. T. Correspondent side tabular so lets start with where we are friday you know brant i wish i had better news but were just not there yet because weve just had a 19400000 milestone mark and it appears between each time between when we reach 1000000 now its just 4 days now from theres a 19400000 case says more than 2012 point 5000000 have recovered meanwhile the global death toll has surpassed 728000 now in the u. S. More than 5000000 have been diagnosed so far while more than 53 percent have recovered while over 163000 have died and Health Experts in the u. S. Are now forecasting that nearly 300000 americans could die from covered 19 but by december but brand something new as happened in called in 1000 data this week now for the 1st time since early march the number of people actually tested in the u. S. Actually went down and this weeks tests were down 9 point one percent or about half a 1000000 tests over last weeks all time high. Eye of 5700000. 00 tests now that drop is likely due to multiple factors including the recent hurricane which prompted testing sites in florida close then there were reporting issues in california and also testing discrepancies in texas and dont forget just a few weeks ago qwest diagnostics which is one of the countrys largest medical Testing Companies began warning that the u. S. Testing system was becoming overwhelmed so this week testing seems to have hit that wall but with out of the us is really in the dark now since testing went down now new cases of cold in 1000 of course are also down this week by 10. 4 percent right here so obviously theres a correlation between the 2 because when you do less testing of course the number of new cases dropped too and now lets take a look at a current job in 1000 hospitalizations since march 12 which have dropped 7. 5 percent from last weeks all time high of nearly 59000 people being hospitalized but heres the thing the hospitalization numbers have also been incomplete in recent weeks as hospitals are really struggling under the new federal reporting requirements so it may be that many hospitals across the country are still reporting incomplete data in their states or just not reporting at all now meanwhile and deaths rose for the 5th straight week right here theyre up 11. 5 percent from the week before and this week in the u. S. A 7590 people died of 19 now lets take a look at the numbers globally so here are the top 5 countries within that have the most just within the last 24 hours india is leading the. And iran doesnt seem at 330. 00 that high but there are 174. 00 so their deaths rate it seems its doubling and the us is going around the same average of 1300. 00 deaths per day so this is the top 5 countries most that so given all the news about the pandemic as we just went over were definitely not getting back to any kind of normal anytime soon. Correspondent sites which are thanks for keeping us up to date. And in a world of social media we have all become accustomed to influencers who work on behalf of brands whether its traveling around the world or promoting events brand influencers have been slowed by the coronavirus pandemic which is halted travel now increasingly brands are churning away from human influencers and moving instead to Virtual Influencers who have no restrictions on where they can go and who they can be around because well theyre just not real lets break that down trend with boom bust cohost ben swan and christiane thank you both for joining us and kristie again for that matter today now kristie we have seen creations like 19 year old kayla released music while going through a carefully scripted drama that kept a 1600000 followers riveted what do you make of this trend. Well i think thats such an interesting trend right now and then mchale was an experiment that proved that you can really blur the lines between what is real and what isnt and thats really just the beginning because one potential extension to little mckayla would be to move it to social networks where then anyone with an i phone can create dress and promote their own personal avatar kind of like a big moji type of thing and this is has tremendous value for brands as the distribution of these in florence or they would have they would not have the same cost and be substantially cheaper than the real life celebrity and this kind of reminds me of that black mirror is episode with with miley cyrus and rachel jack and ashleys too because i think black mirror always chooses to portray controversial Current Issues and explore the possibility of it taking a really dark turn so if you remember in that episode the real life celebrity became too difficult to manage and then the managers the record labels they chose to create a hologram out of miley cyrus using her voice and her likeness in order so to tour the world and keep her positive influence on everybody one in reality she was this dark grungy teenager so this technology is very similar to that and it has proven now they can win the hearts and minds and adoration of fans worldwide despite the fact that it really is not real so from an industry perspective it has huge potential that you no longer have to deal with the dark side of fame all the scandals that come along with it all the lawsuits that come with the big egos the falling out and the entanglements and tick tocks high pals so while this new category get to explored the fashion industry the fashion industry is deafening going to be the leading this entire trend as this is about the perfect mechanism and the perfect leg up for the fashion industry thats all about perfection the perfect image and everlasting use and its interesting that you mention the black mirror aspect because as a team when we were all in one place talking about the show and we would come up with new tax stories that we wanted to do we would always make that point was there a black mayor episode like that thats exactly whats happening right now the better what do you make of this new trend is it covert centric or will this last beyond the pandemic. So i think the advertisers hope itll last beyond the coded pandemic but i think im going to take the alternate point to what christie saying which is that there is a reason that influencers are influencers and the reason for that is because people look at these real life you with beans and they say these are people who actually use products and actually even though they dont write they actually use products and they actually are involved in these things and so theyre telling you how real life situations adapt to these Real Products the problem is with these avatar sensually thats what they are these fake human beings these virtual human beings theyre not real these are not real people using this so were essentially it is is its an ad firm telling you to believe this fake human being when they say this is the way to travel this is the way to live when youre traveling and instead people want to be able to rely on an actual human being who says trust this particular product or trust this particular method and i think thats whats missing here is the Human Connection that says there is value in this person you know better one of the most popular Virtual Influencers is limited choro who is has almost 15000 followers on instagram not that 1. 6 now you know we talked about earlier he is the virtual guest of the Washington Wizards in the n. B. A. Bubble in orlando is this in this case isnt it kind of fun to have a person who can appear in spots where many fans cant be theres photos going around of him on the court basically during a game i mean what do we see there yes so its really interesting because the live in the condo as you said essentially appears on the court while young as. Is essentially dunking right hes dunking the basketball and you look in the background and liam is standing there with his hands in his pockets watching this happen but thats not real right and viewers know thats not real hes about 15000 followers but i think again the real aspect of this is for those kinds of things. Or for the avatar that essentially uses Colonel Sanders going around the world is almost a parody right now of what it looks like to be an instagram influencer those are very interesting theyre funny people laugh at them but there isnt a reality issue here and when people buy products they want to believe that other human beings are telling them this thing is valuable and and works and otherwise even though its fun right now i think people will look at it and say in the long run this is ultimately just propaganda were not actually seen what the product really does boom bust cohosts and the boom bust influencers ben swan and christiane thank you both for your time. They for the benefit for this time you can catch us on portable dot t. V. Well see you next hour. A short time ago an american airplane. Hiroshima. Stake a claim any. Girl cries that heard the word how one. Chin its. Like most americans growing up after the war the bombs were a great thing they ended the war they say hundreds of thousands of lives on both sides and thats what my grandfather always said was his reason for the decision. Truman was hoping for a dual strategy one was to drop the bombs and hope that japan would surrender and number 2 the americans were trying to send a message to the soviet union and there was american poor planning in october 1045 who had chosen 20 targets and russia. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation full community. Are you going the right way or are you being led. By a. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallows. Thinking of getting your music on the ones weve gotten in our shells from around watch this video and still trapped in the final wired how much we dont need to create with them the wall. Reaching out into the wall when is freedom anywhere near and thousands of reading dogs are caged in in human conditions on puppy farms i mean 67 years you know theyve been locked up in cages outside you see no protection from the weather the heat you know the courtier the rain the snow the thunder nothing they have no protection. To get you. To get through killing. Across the u. S. Cruel puppy mills are supported by dog shows and pet stores most of the puppies that are coming from these large Scale Factory farming kind of operations are being sold in stores even joined a Group Businesses are involved like ogling mom santa there has been a shocking. Sounds of the organizers opposition to adverts to increase the standards of care for dogs bred in commercial breeding for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with jobs dont buy dogs on over to. Your favorite recovering from the deadly blasts the un warns of a humanitarian crisis in the country already severe economic crisis now aggravated by the food supply of housing shortages we speak to some of those affect hundreds of thousands from down to the may have no longer legs to clean all says this middle of the floor no gas no. Nothing nothing got polls over the. Coming because the looters in the girl. Who ever wins the next few us president ial election the countrys National Counterintelligence and Security Center already knows whose fault it will be either russia or china and iran going underground discuss the difficult choice facing american voters