Cheaper and better electric cars within 3 years thanks to a more efficient battery technology. And to devastating wildfires along the west coast threaten this years wine harvest. Hello im monica jones and this is your business good to have you with us tensions between china and taiwan heating up china has stepped up military activities while taiwan demands china back off of the saber rattling has economic implications taiwan is a major source of computer chips for the global economy. The world would grind to a halt without taiwans computer chips or inside t. V. Smart phones computers the globes producers rely on the small island Electronic Component supplies most deliveries go to china which regards taiwan as a breakaway province under its one china policy but recently tensions in taiwan. It had reached heights not seen in years. On tuesday the islands president saying when inspected an air force base a clear message addressed to beijing. Was about marriage we have to deal with the pro
A lot to chew over as we watch our World Leaders deliver their messages over the course of the day as we said weve been tracking the opening of the general debate of the u. N. General Assembly Meeting in new york our chief International Editor Richard Walker with us here in studio and richard youll be keeping an eye on the u. N. G. A. For us thank you so much for joining us here in our studio. And lets move on to some other news now countries across europe are scrambling to contain the coronavirus pandemic after a surge in new infections british Prime Minister Boris Johnson said that the u. K. Has reached a perilous turning point as he laid out new restrictions today people across the continent will be forced to curtail their activities in hopes of reopening later in the fall. Hes waited 6 months for this bear for the 1st time since march pops in islander again pulling pints but the industry remains wary of a virus that hasnt gone away because we didnt believe until this morning we tur
This is boom bust one business show you cant afford to miss friendship or in washington coming up the numbers are in the United States took a major hit to its g. D. P. In the wake of the coronavirus dropping more than 30 percent annually straight ahead we analyze the extreme drop and the state of the real economy here in the u. S. Plus a big texas seeing an influx of antitrust cases as tech tensions continue to rise across the globe later on in the show where to take a look at the cases and whats at stake moving forward with a packed show today so lets dive right in. And we lead the program with the latest Economic Data out of the United States the Commerce Department reported wednesday Gross Domestic Product fell by a record 31. 4 percent in the 2nd quarter of 2020 now the number was a slightly better than the 31. 7 percent decline projected in august the contraction was more than triple that of the previous record holder of 10 per cent in the 1st quarter of 1958 now economists suspec
Added 749000. 00 jobs in the month of september according to payroll firm a. D. P. A. D. P. Reported the sectors that gained the most jobs were trade transportation and utilities followed by manufacturing than leisure and hospitality which has just been decimated by the cove in 1000 pandemic and the health and Education Services sector so what does this all mean for the overall state of the economy and the prospects of a recovery lets go ahead and get some expert analysis from professor Richard Wolfe author of the sickness is the system and capitalism fails to save us from pandemics or itself and boom bust cohost christi i thank you both for being here professor wolf i want to start with you many people still believe that this rebound is still intact and that the 3rd and 4th quarter will swing back and expectations are that the economy will expand at an annual rate of 30 percent as businesses have reopened and millions of people have gone back to work as we just mentioned now do you se
It was fully transparent with information with the World Health Organizations and with other countries around the world so that there are definitely concerns about that investigations ongoing of course shes in pain throws that right back and says that implicitly that donald trump is trying to politicize this of course the kind of context in which were looking at this is on the one hand there is theres an election coming up very soon in the United States donald trump needs to get his message across which is blaming china essentially for what critics would say is problems of the United States on handling of this virus but then the big picture is that the United States and china are on collision course and were just seeing kind of you know parts of that playing out here at the u. N. Today the other very conspicuous elements of president trumps a prerecorded speech it echoed a certain the magica themes that theyre emphasizing National Interest i suggest we take a listen and then we continu