Transcripts For RT Boom Bust 20240712

Owners of these apps taking effect 45. 00 days from the signing now the order involving tech talk makes official the president s calls for a u. S. Tech company to buy the social media app or it will be banned from operating in the us take tax Parent Company by dance said the action was done without due process process adding that legal action would be taken if the company did not get fair treatment from u. S. Officials the Chinese Ministry of Foreign Affairs also weighed in on the situation friday morning. Just cause enjoys abundant support until she can find little support to put its own enters the market for International Rules and willful conduct. To pilates and your temperament and if you know american users and companies who only lead to moral decline tarnished and International Trust that it you know will eventually face the contraband. So the we chat aspect is a new bring coal to the ongoing tensions between the u. S. And china now the messaging app is owned by one of chinas Largest Tech Companies 10 cent and boasts 1200000000 users mostly in china now the app is however widely used for professional and personal communication between those d in china and elsewhere now theres a lot to go over here so lets get some expert analysis from blue bus cohost christiane and hillary ford which board member of the British American Business Association thank you both for joining us today christy 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 we check into 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 i think it is actually only a matter of time before we tie our even ali baba with target the next because the tax cold war is really escalating this year as a relationship and trade between the u. S. And china its breaking down even further so it would be naive to think that this would only affect holiday last year so as part of this new Clean Network order its prohibiting the u. S. President from doing business with tech talk and we chat meaning that they will not be available to download off of the Apple App Store or the Google Play Store so banning ticktock was one thing but now messing with we chat you could say that we chat is the backbone of social media in china to say that its just another small short 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 its 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 and evade of the world the u. S. Has led Tech Innovation for the last couple of decades but recently ever since the rise of power and the rise of 5 g. Thats threatened the us is dominant. Communications with the rise of tik tok that there in the us is dominance and social media and eroded on its influence and finally we chat that there in the us is dominance in the area of 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 finds itself in a very unfamiliar 2nd place and by banning we will have major competent consequences for companies u. S. Companies especially apple even though apple is not owned by tens and but apple will be the most affected because if we is removed from the Apple App Store no chinese citizen will be by another apple i phone because we cant is integral to every day life style of virtually everybody in china and ironically as apple sales decline the biggest winner and biggest benefactor would actually be. No hillary i know youve been critical of the threats posed by the chinese their Companies Including huawei dont you agree with these moves from the u. S. Government to essentially affectively banter 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 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 banned in china the New York Times is banned in china and china you cannot use what any personal communications and you cant use skype you cant use Google Search so the chinese saying 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 there 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 christi 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 banned 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 we open up ours i think trump is 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 now hillary you know when were talking about these Chinese 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 u. S. 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 why wait 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 secretary 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 or worth war 1st world war to be a tremendous ally of the u. S. The u. S. 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 who is a former conservative leader hes leading sort of the charge to. Pressure pressure Boris Johnson to say lets do the same thing we did was walk away and eventually ban it and as you know it was really off the the whole world have virus then this is when they started to clamp down on one way so i think youre going to see probably the u. K. Yes leaning the same way as the u. S. Now i know there could be a lot of back and forth here between who had 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 ministration is also recommended new rules for Chinese Companies with shares traded on u. S. Stock exchange no no actually thats been made but essentially its forcing them to give up their listings and find a new exchange if they dont submit to u. S. Auto requirements chris can you tell us whats going on there 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 u. S. Audit regulators and this move 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 Company well that spooked the market most analyzed realized 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 so well yes this does hurt Chinese Companies it also hurts u. S. Investors too because who was responsible for growth the last decade where will it be all that investment flowing to and where did all these massive portfolio returns come from all of 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 in their future growth so its a lose lose situation for both were going to have to continue this broad conversation but alas we are out of time hilary ford with board member of the british human. 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 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 brokerage accounts now 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 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 alone 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 it 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 fiftys top gainers asian paints and finance surged nearly 5 percent still india has a long road to recovery as the country has recorded more. 2000000 corona virus 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. Chat 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 and 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 able best its pretty much flat for the week leading just positive as emergency payments to millions are set to expire this comes despite economists trimming the countrys 2020 g. D. P. Forecast to 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 indices are up the dow the nasdaq and the 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 then will 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 jobs 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 credit virus 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 cope with 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 are the numbers of the close. No shots. Actually. Switch your thirst for. A shirt. An american. Hero she. Even someone. 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 there was american poor planning in october 1045 chosen 20 targets and russia. Thinking of getting a new puppy once we got our sheep dog didnt know what to do strap in this tiny little wire we dont use a crate with him he will stir freaking out and he wont want to bring him anywhere near it thousands of breeding dogs are caged in the interview lane conditions on puppy i mean 67 years you know theyve been locked up in a cage outside you see no protection from the weather the heat you know the cold air the rain the snow the funder nothing they have no protection. If youre not you. Know its your kids. Across the u. S. Crude puppy mills are supported by dog shows and still most of the puppies that are coming from these large Scale Factory farming kind of operations are being sold in stores even joined a good businesses are involved like the mom center there has been a shocking amount of the organized opposition to adverts to increase the standards of care for dogs bred in commercial breeding facilities most of that opposition is coming from huge agricultural groups and industries that have nothing to do with dogs dont buy dog. Or 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 the 19. 4 a 1000000 miles down market it appears between each time between when we reach 1000000 now its just 4 days now from this is 19400000 cases more than 2012 point 5000000 have recovered me. 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 us are now forecasting that nearly 300000 americans could die from code 19 by december but brand something new as happened in cauldron 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 or over last weeks all time high of 5700000. 00 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 Quest 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 colon 1000. 00 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 to now lets take a look at a current kovan 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. Rescind 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 and rolls 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 cold it 19 now lets take a look at the numbers globally so here are the top 5 countries and within that have the most deaths just within the last 24 hours india is leading this and iran doesnt see about 330 that high but there are 174. 00 so their deaths rate it seems its doubling and the u. S. 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 this is 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 the rachel jack and ashlee 2 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 and that episode the real life celebrity became too difficult to manage and then the manager is 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 that it can win the hearts and minds and adoration of fans worldwide despite the fact that it really is a 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 track 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 well but 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 avatars a century 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 coro who is has almost 15000 followers on instagram not that 1600000 that we talked about earlier he is the virtual guest of the Washington Wizards in the n. B. A. Bubble in orlando this is 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 d as you said essentially appears on the court while young as. Is essentially dunking right hes dunking in a 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 ad the charges essentially uses Colonel Sanders going around the world 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 seeing what the product really does boom bust cohosts and the boom bust influencers ben swan and christiane thank you both for your time. And benefit for this time you can catch us on portable dot t. V. Well see you next time. How can you explain love ive been to 82 countries i did in 12 but i came here and on those 3 days i just filled with hope. And he kept putting his name sic show. I made my decision to come here because d i felt you could build a new life suited to who should know if you can put his. Nose or prevent. God decided that this money is no good to be free while prostyle it if not only. Did he see it i was there my one dream is that all my children find the same kind of happiness i do. I love my home i love cold weather i like the culture i like the history like everything about it. At the most months now if i know that i. I am joined a russian farmer. A short time ago an american way up the war on hiroshima. Standing up kind. Of girl cries that. Our one diligently on her 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 145 had chosen 20 targets and russia. Thousands of people gather in central beirut demanding justice over tuesdays deadly explosion of State Government and incompetence is to blame for the tragedy. Lebanon is counting the cost of tuesdays deadly explosion which has aggravated an already severe food and housing shortage and wall rescue teams continue to search for survivors we heard from a nurse from newborns minutes blacks. In the new natal intensive care units to cover the rubble is when i started to leave and songs of the units i was terrified because i felt the babies might be crushed under the rubble and. Also this hour the u. S. Counter intelligence chief claimed