That has its goals in itself today to corporate capitalism and one of our mentions absent is of course globalization so there is no alternative in the world i know but a bit of if thats a very interesting comment i mean i i im im not suggesting that dog globalization is going to go away because of the corona virus im not saying that what im saying is taking on board what marcus just said is that we have to take note of its weaknesses and how it needs to be adjusted i dont think we can turn the clock back 40 years ok but at the same time this this horrible event that is affecting the world on a scale that is only increasing and were going to get in later in this week on this Program Going to talk about the economic consequences of it but it does beg the question is it really working that well and what needs to be adjusted so we can we can avoid such a pandemic because it will be other pandemics this is a test case and how to. To leverage what we have now and what needs to be done in the
Major stop people crossing borders to panic buy things in supermarkets as well but its one of the germany hungary said it was closing all its borders potence already done so in the Czech Republic as well. And altogether now you have a 100000000 europeans in lockdown spain is now going through the same trajectory as italy did just reported a big spike in fresh case in the last 24 hours and so increasingly these enforced stay at homes for people are being done theyre being put into place by by the police and probably in the fullness of time by the military as well and frankly i have to say that despite the fact that europe is now the center of the pandemic and obviously is a very big rise in cases they talk about trying to flatten the curve out of the virus the other thing that i think European Countries are going to have to start to address very very quickly is what on earth you do with all these people are staying at home to pay them any money so they can buy things well spain is also
An american journalist with r. T. And in Great Barrington we cross to pete earley he is an economist with the American Institute for Economic Research all right cross talk rules in effect that means you can jump in anytime you want and i always appreciate andrew in houston let me go to you 1st here. I guess this is the 2nd shock in as many weeks for you because youve covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve seen markets crash and we see a lot of disorder and a lot of questioning of what direction we need to go into but there seems to be quite clear that a recession is going to be upon us and very very soon if not were in it already go ahead and what are your thoughts. Well i think thats right because if you look around the world we have School Closures we have industries telling people to telecommute we also have really the shutdown of the economies say like in italy where everyone is staying at home or in spain and we
The next few Weeks Congress has already put forward a bill to provide sickly as well as Food Assistance to children and the elderly it still needs to pass the Republican Controlled Senate before us President Donald Trump can sign it into law. But the new proposed payments which also need to be approved by congress would be part of a package worth more than a trillion dollars. Clude help for the airline and other Industries Hit hard by the slowdown in business this is worse than 911 that for the Airline Industry were going big with this invisible enemy we dont want airlines going out of business we dont want people losing their jobs the Hotel Industry has also been hard hit tuesday mariya the Worlds Largest Hotel Company started furloughing thousands of employees as their hotels see fewer customers but its not just the economy that has the white house worried it says Public Health remains a priority on standby in new york the army corps of engineers to increase Hospital Capacity in resp
Vote our correspondent visits a taiwanese island just a few kilometers off Mainland China. And surfing through the pain in indonesia survivors of the 2004 tsunami find healing in the ocean that once killed nearly everyone they knew. Martin good to have you with us u. S. And canadian Officials Say its highly likely that an Iranian Missile brought down a ukrainian passenger jet near tehran earlier this week canadas Prime Minister Justin Trudeau says mounting evidence suggests an iranian surface to air missile hit the airliner shortly after takeoff but iran has rejected that scenario all 176. 00 people on board many of them canadian were killed in the crash which came just hours after rent launched an attack against u. S. Targets in iraq. Wreckage from the Ukrainian International Airlines Flight that crashed shortly after takeoff from tehran leaving the world with lots of questions and few says canadian Prime Minister Justin Trudeau was the 1st to publicly announce a possible cause and Ir