This is the one business show you cant afford to miss im sorry mom says 2 going to washington coming up india may join the u. S. And pushing out trying to walk away from a 5 g. Network setting up the stage for a more tension between the worlds 2 most populous country the u. S. Trying to express optimism on the trade front will new rhetoric and move by australia put that back well discuss with economics professor richard have a lot to get to so lets get started the list of countries cutting off ties with chinese tech giant wall way could soon include india but reports claim it may not come through an outright ban it wont this after deadly clashes have led the 2 Nuclear Powers to amass thousands of troops at their shared border arties Rachel Blevins joins me now to discuss the details rachel whats going on right well being in Government Housing issues or not right ban against Chinese Companies like wall way but instead now reports are claiming that they plan to actually phase out some of those products in equipment from all weigh in the coming years now we saw an article from the Financial Times which specifically claims that according to anonymous industry executives in government officials they say key ministries have clearly indicated the local Telecom Service provider should avoid using chinese equipment in future investments including in 5 g. Networks now is important to remember here that india has the 2nd largest mobile market in the world and right now wall way is one of their top suppliers when it comes to equipment for that network so if they were to just cut this off altogether and to have any sort of ban that would have a Significant Impact on both sides here well weve heard this before the india was going to issue this swallow a ban essentially but how did we get here very willing. Just last year india was saying that it was open to working with all kinds of vendors when it came to setting up its 5 g. Network but with china specifically weve really seen increased tensions in recent months after border clashes turned deadly if you remember back in june least 20 indian soldiers and an unknown number of chinese soldiers were killed when a stand off of troops along the border referred to as the line of actual control broke out into fights involving fists rocks and wooden clubs now following the deadliest clashes in more than 40 years both sides reportedly deployed troops by the 10s of thousands to the region then earlier this month india moved to ban wally and z t from taking part in its 5 g. Rollout and india has also since banned 59. 00 apps from Companies Based in china including the popular platforms to talk and we chat citing of Course National security concerns well it sounds like india is following suit to what the United States has been doing a during this time only only a few months or a little a little bit after the United States how much indication do we have that the u. S. Is actually influencing india where you are right as we are seeing the u. S. Has really been at the forefront of that war against wall way calling on all of its allies to ban the tech giant and claiming that there are legitimate National Security concerns when it comes to wall ways ties to the Chinese Government now always has repeatedly denied those claims but the u. S. Is still pressured a number of countries to turn against them including india and as we saw earlier this year when President Trump made a direct visit to india he met with officials and he said that they discussed the importance of a secure 5 g. Wireless network and the need for this emerging technology to be a tool for freedom progress and prosperity and it is notable to see how the Trump Administration has almost encourage these increased tensions between india and china and were talking about neighboring countries here who are very large but also at the same time are Nuclear Powers absolutely and well see what else they follow suit in doing the United States has been arties Rachel Blevins thank you so much for being with us thank you. Commerce giant amazon is facing more legal woes well this time in india where more than 2000 vendors have filed an antitrust lawsuit there saying the companys business methods are driving them out of business the suit comes as amazon is expanding its operations just south in india well joining us now with more is the legal journalist molly varos contributor with americas lawyer molly good to see you what are these offenders alleging. Well its 2000 of them sara theyre basically saying hey youre driving the smaller guy out of business with your unfair discounts and buying in mass bowl and selling it at a discount to another company and its basically a lot of what youve heard earlier this is in addition to an antitrust investigation that started in the Company Earlier this year or started against the Company Early this year out of india and they were concerned over the same sort of practices that essentially put the smaller guy out of business so amazon can make a big profit well as usual thats the kind of what their goal is but what sort of Business Practices do the company or is a company under scrutiny for yes and you know were hearing the same story over and over again whether its litigation in the United States or in other countries but here in india its basically a free for all in a lot of ways because its a growing market for ecommerce businesses and youve got a lot of giants that are opening up shop there not just amazon but in amazon in particular basically vendors from a variety of places are saying that the way amazon works is theyll go in theyll buy goods in bulk for directly from manufacturers turn around and sell them to someone else like cloud tail at a lower discounted rate basically at a loss and then cloud to cloud till turns around sells those same products which are competing with other businesses that are selling those products but theyre selling them at a lot less so its driving these other Smaller Companies out of business well whats the latest molly when it comes to amazons plan to expand its operation in india. Well its interesting they have just opened up their largest Retail Office yet in a city there in india that is known as basically asias Silicon Valley bad im probably slaughtering the plantation of that name but its a huge city 10000000 is seen as a real growing mecca for young talent the Technology Business theyve got an enormous campus theyre like 2000000 square feet almost with some 15000 employees 7000 that are in the office and the rest are basically creating software that increases their Online Services so indias such a growing market a 1000000000 people and only 120000000 are really Online Shopping right now so theres a huge market to tap into and its seen as the presence of that building is basically seen as amazons for a day really cement themselves as the leader in Online Retail not just in india but around the world well and its building one of its largest offices so thats pretty incredible amazon this isnt the 1st time weve heard amazon getting into trouble for this type of reason are being investigated for this reason is there any real evidence truth to that. You know they are looking into it you have that investigation that i talked about earlier that opened up in january and basically india regulators along regulators around the world are saying that amazon will say you know speaking on both sides of their mouth even though amazon the nies as they say they comply with all laws in india and across the world that basically amazon is not. What im trying to say theyre trying to go in and violate loopholes if you are finding those loopholes that are making it easier for them to exploit smaller vendors and in fact some smaller businesses that were used to walk in Service Customers in india are now saying that theyre seeing a loss of business because more people are shopping online and because amazon is going in and buying a lot of those products up and making it cheaper and Home Delivery to people at home so thats part of competition but in response government regulators in india are also trying to pass a new policy which makes it so that they can have access to the data that Companies Like amazon have in turn right around and take a look and see if any of that data is being used to in a nefarious way basically force out their competition and well see if amazon actually gives up that data as well because im not sure its going to be that usually molly barrows contributor to americas lawyer thank you for your time. Thank you sarah. Here on boom bust weve been discussing the state of u. S. China relations and just how theyve impacted the world well Global Markets actually reacted positively following tuesdays news that both sides said theyre making progress on the trade front clinging to that phase one trade deal signed back in december u. S. Secretary of state my pompei all hailed 2 it trumps initiatives on what he called the predatory aggression on the Chinese Communist party. And china has pulled back the curtain on the predatory aggression of the Chinese Communist party the president has held china accountable for covering up the china virus and allowing it to spread death and economic destruction in america and around the world and has ended the ridiculously unfair trade arrangement with china that punched a hole in our economy those jobs those jobs are coming back home from our we want to bring in author of understanding socialism and host of economic update professor richard. There weve talked time and time again about u. S. And china relationships pacifically the trade war with you but i want to get your take on this socalled progress of this phase one deal that both sides claim to be making. Well i think the easiest way to understand this is a recognize which mr von pale clearly cant do that the United States has very little power over china the idea that the United States is in a position to tell the chinese to change their government or to get rid of their governing party is laughable around the world its already said if there are americans who actually believes what you have is it just a tad game and that game involves United States genius that beat on the share of bad china and the chinese calmly responding a little later nothing much changes look beat drive that point home no exodus of businesses from hong kong because the businesses in hong kong feel very confident that they can work within the framework of the peoples republic no exodus of us like change back to china very Small Movement according to the American Chinese Chamber of commerce which is run by american prompting these so this is really political theater and because he cant do much he has to kind of play both sags mr trump on the one hand strong straight moments i get him some attention and on the other hand. Statements that were making progress in floors the one constant is nothing much changes. And it gets just lame in a nice great room and thats the most i can see. Because you really clean surely not much change especially when we saw a lot of people after that phase when trade deal was signed that oh trump wins and other side saying well no he really didnt win because there wasnt much change and it was only phase one which was a partial deal right but a lot of these issues still remain between the 2 countries the u. S. Much like you said wants china to basically restructure its government so given that information and china has said theyre obviously not going to is there ever really going to be an agreement thats going to make both sides happy how far is this going to go. Well my guess is and request were guessing but my guess is that youre going to see more of the same oscillated a little bit harsh rhetoric from the likes of on pale then a little bit calmer were getting together from mr drum where maybe theyll reverse their relationships but get i did states needs china in all kinds of ways and vice a versa and they both know it and they both know that they have become into depended the chinese have become the 2nd superpower in the world over the last 30 years the idea that theyre going to change their society i mean big net successful is just as i say silly and the United States being the biggest debtor country in the world and the peoples republic of china being the biggest creditor of the United States theyre intertwined into dependence is what i think is what youre going to see and lets not be swayed by the ups and downs of what is mostly sierra for your Political Base or for the media on certainly driving markets happened down those headlines professor let me ask you if anything the u. S. Justified though to frame it stands against china as a stance against totalitarianism and communism. No i dont think those have anything to do with it i mean the most a totalitarian government i can think of in the world is saudi arabia and the United States has wonderful relation with them wiser all kinds of oil from them sells them military equipment more than almost any other country in the world that that the idea that United States Foreign Policy is good and i took that with terry in ism is kind of ridiculous and not taken seriously in the rest of the world so i think these are statements made by his Political Base of republicans at least on that. With the democrats going along because thats a tradition in america but its not something that actually affects the dunes. Which is why the communist government which as it were for the last 50 years has worked out the really successful profitable interactions with the United States on boards over the last 50 years and used to tell that there is a muslim problem its not greater now than it was 30 years ago and saw it not read well professor i want to turn change gears here a little bit to turn of a tween relationship between china and australia which australia as you know joined the United States and actually called for an investigation into china after the alleged mishandling of the crown of iris again that tensions between the u. S. And china really grew tenser after the crown of iris because of their mishandling allegedly take a listen to what the senior chinese diplomat comments and what he said as about as far as australia. Or. They heard this shocking new offer proposal coming from australia which is supposed to be a good friend of china it has always believed so if you i know the language is a problem and if you are able to reap chinese blocks chinese website and even the comments on the blog including the blog of your embassy in beijing you will be able to know the intensity of emotion of all people how much indignation anger and frustration that express. Tensions are obviously rising between them professor your response. Yes i think youre seeing the the provocative pressure from the United States youve seen the back and forth struggle inside in the in the about whether or not to come down on one where the way the United States wants and do they isolate like him or that its you just dont miss the optics that term and whether or not to go along with that and the same thing is going on with australia youll notice that australia is having a problem on its neighbor new zealand isnt having every problem you also notice that it and to me china and were really. Or also interdependent economically and so this is a little bit of shadow watch in order to get a better deal of between them that one of the other side wants to change but i dont think it will change much of the basis of all of this because these are not issues that the people who trade with those we make all the basic economic decisions for them this is secondary act around a little north and it really is where were seeing are some countries take sides on the tax front like were seeing india having their issues like we spoke of earlier today now in a blocking wa way others are going to follow suit others may not and theyre pushing back and we know the United States is not going to stop pressuring atol eyes to do so professor Richard Wolfe host of economic of they thank you for being with us today and making time for us. My pleasure thank you. For a quick break but when we return weve talked a lot about Mortgage Rates on loans at low Interest Rates but what if you can use cryptocurrency as collateral and well talk about that centralized finance as we go to break here the numbers. So what weve got to do is identify the threats that we have its crazy. Let it be an arms race. Here in Dramatic Development only personally im going to resist i dont see how it will be very critical time to sit down and talk. If you go to the symphony orchestras warming up any musician is is tuning his or her instrument so you hear this year all these sounds or noise but it but its its a constant its disorganized and then the the band the orchestra plays and you get up music so what the brain does and what the maker tubules do is organize all orchestrate these one collapses. In the troubled 19 seventies a group of. 3. That was coordinated loyalist attacks particular population. Were forced to flee their homes. These attacks was a p. R. You see. The Police Actually took part in the attacks so instead of presenting they were active participants in the earlier from the streets in belfast i think more than a 100 innocent civilians will. Has to live you can see in yours and we found out more i was surprised about the extent and the degree to which the solution was involved in some of those cases the killers would lead to be named. And were going. To do very very tall i think. The water where all the patients you walk to school you know give the go ahead. During the coronavirus pandemic were seeing an explosion in a new type of lending were using crypto currency as collateral to fire decentralized finance peer to peer crypto currency platforms allows lenders and borrowers to transact without the traditional gatekeepers of loans which of course are normally banks well ok how does that work well defy sites which run on open source code with algorithms that rates in the real time based on supply and demand they represent the future of Financial Services providing a cheaper more efficient and more accessible way for people and companies to access and offer credit but these kinds of loans come with a significant risk joining us now to break down. Those christie i and ben swan chrystia lets start with you what are the risks and some of the rewards a using this kind of system. First off to start off i think if you think about it this system really took off at a really unique time during the 1000. 00 crisis when literally Small Businesses and individuals they struggled to take out loans and there was a cluster failure that was the p. P. P. Program where many small. Businesses and individuals they werent even eligible to apply for these very necessary funds so when traditional finance fails thats really when crypto shines because these this new decentralized finance platforms that allows for lenders and borrowers to transact without the headache as you said of the middleman big banks so loans on these platforms have now risen to more than 7 fold since march to nearly 4000000000. 00 so there are huge benefits to these platforms namely that is completely peer to peer which means that it is cheaper and you dont incur these high underwriting fees which is where the banks essentially take their cut it is also more fission is more transparent you literally see the market depth and the liquidity of the capital that is available right now to borrow in real time so for the lenders this is also very beneficial because right now you have low Interest Rates in there in the u. S. Capital markets however here you enjoy the benefits of yield farming so if you look at rap coin or even ren bitcoin we just simply 20 bitcoin demand has nearly has really skyrocketed because more than half of all the issued in circulation that is currently already locked in compound right now so those are the positive but for the negatives and the risks it is mitigated up to a certain point right now so currently as it stands products are over collateralized so this is because currently theres no Credit Scores in this entire market theres no Credit Scores theres no shared collateral so many products have to be over collateralized sometimes to as high as 150 percent so this is very undesirable for traders who require high levels of liquidity and high levels of leverage and people who want to maximize returns so there are also some technical risk to consider such as the off chance that there are bugs in the smart contract which of course right now as of today there is absolutely no Legal Recourse awol then as christine just mentioned this kind of lending has been exploding given the time and since the start of the pandemic can you give us what those numbers look like. Yeah as she mentioned since march were talking about 3700000000. 00 i mean thats a massive amount of money thats been flowing through this but theres a couple of other points here and christie is pretty much right on what she said but a couple of other points i would point out number one the issue of the fact that when banks are not lending at a time when they are not interested in that at a time when Interest Rates are being held so low this provides an opportunity number one to be able to get the funding you need if you are a Small Business owner and you have this collateral already in him the other important thing about it is it allows you would say that you hold a significant amount of bitcoin or you hold a significant amount of some kind of gold coins and you say why have these coins but i dont want to cash them out i dont want to trade them in for dollars it allows you to still be able to use them as collateral while you still retain use and hold them and then once youve paid your loans back you dont lose your coins so i think theres a huge value in terms of that but the most important thing about this whole system is that it really has been set up in a way that moves and goes around the Banking System christine mentioned the credit score issue i think thats a Huge Positive in this case and thats because the credit score system has been established by banks and Credit Card Companies right to force people into a cycle where they must use banks and they must use credit cards in order to show that their credit worthy so they can borrow more money from the bank who then uses whether or not they have paid it back its a whole system thats been kind of rigged from the beginning and this bypasses that system and for that alone i think its a system worth looking at well exactly if you dont have these big banks that control the money thats what the society that were living and now kristie that is if lending just on the example of how mainstream crypto currency is like they are becoming. Well yes lending has actually always been around since the very beginning there was salt lending if a lot of people still remember that was extremely popular back in 2017 where you collateralized your coins in exchange for currency kind of like well ben has just been saying with the 5 and there are many others like that but the problem is just like exchanges of the past era those platforms were all centralized the trading exchanges the lending platforms all of those then became the middleman so like the bank it really didnt solve anything or fix anything it wasnt anything that novel because they in essence became the middleman and became the banks so in fact it was kind of downright redundant as crypto was meant to be peer to peer trust less permission less and open source but now this this really is because the defied boom now that is based on true the true application of crypto currency and being decentralized because right now this is when youre actually having a true peter peer platform lending that is unlike its predecessors so yes you could say that this makes a lot more mainstream now but i think it is the true hardliners who are really benefiting from this the most because as he said you can get currency without having to sell out of your assets but also because these hollers theyre the only people right now who really understand and can appreciate how big of a step this entire d 5 boom is because this is when you can really take out a loan in mere minutes completely anonymous mostly completely peer peer very different than what were used to ben quick answer here though major investor tyler we. Had a policy that really is continuing to boost the price of bitcoin is he right. Its the fed thats boosting it i think yes in some ways its boosted it but on the other hand no i dont think you can get complete credit to the fed you have to give credit to the fact that big corn has arrived long before coronavirus and you this is just helping to show the value of it would do the printing process of that that has been involved absolutely its made a rise on its own. Even before a crowd of us much like you said you must cohost christiane i want to thank you for taking us into a deeper look into cryptocurrency as always. You got. Us on demand on the brand new portable t. V. Are available on smartphones and tablets through google play on the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer models Samsung Smart t. V. s as well as devices or simply talk about it portable the t. V. Shows seem wrong. When old rules just dont hold. Me. To shape out just to come out to. And in the detroit equals betrayal. When so many find themselves worlds apart if we choose to look for common ground. Hooper you know you know they have so being you. Know yes for on. We. Are just going to be you know pretty girl. Oh yeah its. A. Good game just they take you to where the courts for. These are the stories of men who cant imagine life without fashion without a sense of style without things that might be seen as weakness in this masculine world but they still demonstrate incredible strength of spirit to live as they choose. For. You know we look at the solutions we look take a deep dive into the issue theyve been chatting about all year now today were going to be talking with more also known as n l w the breakdown cast and following him on twitter for a long time listen to his pod cast you know the great thing about this whole new universe stacy is that people who might not get on media get on media and then they rise to the top and suddenly theyre like wow these people are awesome and i would put. In that 10. Protest vote and demonstrators defy a curfew in the u. S. City of comes off the police shot a black man reportedly leaving him paralyzed. The british Prime Minister cools for an investigation into the alleged poisoning of russian opposition activists then id say no only the kremlin though says no one should jump to conclusions when the substance found in his system hasnt yet been identified. 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