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tv   Boom Bust  RT  June 7, 2019 8:30pm-9:01pm EDT

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here's a look at what's on deck today. turbulent fortunes will soon take a turn as the west edges closer to a decision on the fate of the company's c.e.o. . my hail of it is in canada and will bring us the latest on the trial and all the latest moves facing the battle tested telecom giant. a plague of space in the markets and it's assumed for years to. kaufman author of the bet all of that the farm is on hand to give his outlook on what will be in store for the world's daunting problems. finally another day another threat this time has seen $10000000000.00 and we're told it took turns the analysts and one is standing by to help us dig into the whole point of property shows today and dive right in. china and russia continue to strengthen their ties at the same petersburg international economic forum and are committed to fostering a deeper cooperation in the face of an increased political and economic hostility
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from the u.s. this was reflected by the russian president vladimir putin's comments on huawei who has now agreed to be the leading force for russia's development. the situation around wildly for example which is not only being sidelined. out of the global market in some circles it is even more over the 1st technological war. the us has blacklist for several companies including google and qualcomm from doing business with hallway furthermore the u.s. is pressuring other countries to pick a side and decide whether or not they will allow huawei to help build out their 5 g. networks warning that their decision will have consequences. and while it appears that russia has welcomed the telecom giant with open arms western nations continue to ramp up their anti in the some against way but it's not just the us one under look what the wa wa a is canada and joining now on the ground is our take
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correspondent. so you're going to have that out right now so before we get to the russian president's remarks let's start with huawei is drama unfolding in your country what's the latest. what we can see that these court proceedings are actually being for push forward with joshi we know that she was arrested here by last december you know this is a story that we've been talking about a lot and as things are being pushed forward now we're hearing that we will actually see some action in the courts starting this september in october we're talking about basically disclosures of evidence but we can look and we've talked about this before this is going to last a long time it can last well into 2020 so if she's here you know there's a lot of people saying there's really no evidence against her and stood up as well to talk about exactly what's going on with her we heard from benjamin howells and here's a quote from him he's the way vice president of international media affairs the
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u.s. allegations against miss wayne are based on violations of unilateral sanctions imposed by united states on financial services in iran and canada does not impose any such sanctions therefore transactions conducted with the bank do not pose any risk of breaking canadian law as a result the alleged conduct of miss men is not criminal in canada and she should be released in media at least now we're hearing that coming from a quite a few sides here in canada that you know that this person didn't do anything illegal in this country why was she even arrested here on u.s. orders we do have agreements with the u.s. to cooperate with them but this is one of those situations that put canada in a very very awkward position between the u.s. and its 2nd largest. partner china the u.s. being number one it's not someplace the country wants to be or prime minister he's talking about possibly talking to president g. about the situation that we have these street diplomatic relations we'll see if that goes down but reza as of right now we're looking at this assault on on wall
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way and on top of that this main trial in canada is not going away anytime soon and alex in the russian president's speech that we just heard there in the rest of his comments he said the united states moves against while way were in effect an effort to the west trying to extend its jurisdiction across the world can you tell us more about that. pretty strong words and i mean that his whole speech as we heard at the top there were a lot that was said there by president putin and president g of trying to was there at the summit he was in the audience so he heard what president putin said. just coming down to the whole situation where there's a little proof here and that's something that i just mentioned the u.s. is basing this not on evidence that it's sharing with the world it's just saying you know while way bad and this is all part of the straight war we know that the main the incarceration of this of this individual in canada the house arrest which he's on or under right now is a part of this battle between china and the you so the u.s.
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is trying to push other countries into the position of not working with weiwei candidates on the fence right now about that but there are some countries of just flat out have said no we have worked with weiwei in the past and we will continue to work with them such as italy and now we're hearing about russia putting a lot of money into that for 5 g. technology so the push for awhile way the u.s. might be saying no but there's a lot of people around the world that are still saying yes to that company i'll take our spot i admire that thank you so much. thank you. the swine fever outbreak and the ongoing trade war between the u.s. and china is causing food supplies in the world's largest food supply issues in the world's largest market now russia's large. me producer the chair because although group is attempting to pick up the slack checkers over c.e.o. sergei mccabe last thursday the company began shipping poultry products to china in may and is looking forward to some plummeting their peak port and soybean market as well mckayla said his company expects to ship around 1500 tonnes of poultry
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products to china in july but shared a more lofty goal of the company shipping 40000 tonnes next year adding that he expects russia as a whole to export $200000.00 tons to china next year. and the swine fever epidemic continues to rage through asia and royal global agriculture markets the latest outbreak of the highly transmissible untreatable disease started in china the home of 440000000 pigs more than half of the global total more than $1000000.00 chinese pigs have already been called in efforts to limit the spread of the disease joining us now to discuss in detail is fred kaufman author of bet the farm fred 1st of all catch us up on the latest how far has the outbreak spread of the swine fever now and what is the toll so far this is no joke this is the largest outbreak of animal disease in the history of the planet it started breaking out in china in the
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shenyang province in august of last year and has since riddled the entire country we are not talking about $1000000.00 pigs that have been killed but we're looking now at about 128000000 the estimates are that we're going to go as high as 200000000 this is unprecedented this blows the avian flu epidemic away and now what's happening is the infection the virus is spreading out of china into russia into mongolia into neighboring countries such as north korea vietnam this thing is going and it's going fast it's going to be really tough to stop. so fred you're a food safety expert so let's be clear this is not a food safety threat in the sense that this disease no it's not in fact humans though they can apparently carry and transmit the disease is that correct. that's absolutely that's absolutely correct in other words there is no danger that we are
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going to catch a disease by eating a pig that's been infected the disease how ever if we do eat that disease let's say this and this happens in china all the time pigs feed on swill pigs feed on waste in china pigs feed on human waste so if somebody were to eat infected poor and then the pigs that they own were then to feed on that they would be infected this thing goes fast and it's also very mysterious in other words a pig can look very healthy and then in 10 days be completely dead it's a hemorrhagic disease it's like pig ebola what happens is none of the blood vessels and in the pigs body can whole blood they explode they lead to death it's a horrible disease and the corpses have to be taken care of very carefully it is a huge bio security issue the largest one the borel has ever seen so fred our correspondent alex mahela us yesterday hit on the issue of factory farming and this outbreak talk about the structural factors here in the food system that creates the
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conditions for outbreaks like this one. what is so interesting here and ironic is that if all the pork in china if that's all the swine are actually produced in large factory farms it is conceivable the problem would be less one of the issues is that most pork producers in china have less than $500.00 pigs they are small family farms it is almost impossible to regulate in other words if we have the large factory farms horrible as they are there would be fewer of them and it will also be a little bit more possible for there to be some sort of government regulation and government oversight this is going to change the face of chinese pork production because across the board these men and women who are raising pork some bigs on small farms are going to be driven right out of the business very interesting fred looking forward what can industry do to stop breeding outbreaks what would a healthy and resilient food system look like and could it be just as profitable as the current one well look this is the problem this is the problem you've nailed it
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which is that there is no vaccine for this virus there is no cure for this virus that is why we are looking at $200000000.00 pigs about to be killed each pig is about $200.00 pounds of meat you will do the math retard we're talking about 40000000000 pounds of meat has to be thrown away so what really needs to be done is start over and make new regulations we have to keep these places bio secure clean there has to be a new level of oversight such a thing does not exist right now in asia they're going to start over. and what about meatless meat in this equation is that a significant solution here. well of course i mean i think i think everybody wants to wants to go to meatless pork i think that's a great solution but what we're looking at right now is the agricultural sector just taking such a hit in this country the agricultural commodities because what's another irony
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here is that you would think the united states pork producers would actually benefit from increased demand in china but because of the outrages situation that the president ministration has gotten us in terms of international tariffs and trade with china we are not exporting more pork to china in terms of what we're going to see in terms of the sect on the on your plate or in your wallet china has a reserve of frozen pork that's going to last about a year but after that expect the price of pork to jump your baloney is going to cost more for another about the farm thanks for your insight. thank you. markets are mixed around the world this week after a slew of major headlines let's stop in moscow with the molex st petersburg hosted the international economic forum the markets got a boost as chinese and russian enterprises signed roughly $20000000000.00 in
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business deals and china agreed to build our russia's 5 g. technology and then over in asia the shanghai index fell 2.6 percent this week as the entire market got spooked on heightened scrutiny from regulators and this came out of the congo a pharmaceuticals and materials group are found overstating its cash positions securities watchdogs warn that it will now be on the lookout for insider trading stock manipulation and other mixed conduct at the scrutiny on corporate disclosures this is entirely part of china's effort to ensure transparency and bolster confidence in the world's 2nd largest stock market in order to continue attracting foreign investments over in hong kong the hang seng slumped mid week but managed to recoup and then flat still slightly down. unless some one percent while initially reacting to the potential rate cut by the federal reserve the rally was quickly sold off over in japan the nikkei start of the week at its 4 month lows but slowly rallied up throughout the week on optimism that washington is considering
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a delay in tariffs on mexican imports remember that japanese autos would be severely impacted as mexico is used as a production base the nikkei recovers and was slightly up for the week and then over in india. the sensex at the rally into an all time high post-election it is now dipping as consumer confidence declined in may due to terry and sentiments on price levels and unemployment the current unemployment level is that of 445 year high at 6 point one percent and then over in australia the a.s.x. is up as it pushes new $52.00 week highs the markets have been driven by a strong local housing market rebound coupled with the upcoming tax cuts and is expected to lift consumer spending and set to mint in the near term and then finally over in south africa the all shares index also ended up for the week despite the rand plunging down to the 8 month lows the market reacted to your presence around the poles are taking steps towards putting south africa on
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a growth path and fighting corruption and now over to daniel for europe and america thanks kristie big trend in europe and in europe and the americas this week starting in france the care is up this week despite the failure this week of those for you know merger talks energy and health care sectors led the gains there on the cac moving to germany the dax is also up for the week soft charts were vendor showing big gains in stock prices as we go on the exchange moving across the channel to the u.k. the floor she puts another green arrow on the board for this week one reportedly betting on a fiscal loosening from the european central bank has an interest rate increase by the e.c.b. is put off to next year on worries about a weakening global economy you know over starting in colombia. for the. at the end of the week after some controversy on thursday when the colombian finance minister told the central bank to not comment on growing political polarization in brazil the vast but also in the green this week and we'll have some big news on
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brazil and russia sure later in the show stay tuned for that and back to the u.s. all the major u.s. stock markets for the week after down all being down last week and why is that tech heavy nasdaq and finally as we end in toronto. yet another green arrow strong jobs numbers coming out of canada this week with unemployment falling to a record low of 5.4 percent everything is up in europe and the americas this week and that is your global stock wrap. time now for a quick break but here because when we return another day and now they're kept this time kate have had nearly $10000000.00 and rep paul has. have to analyze ben's want to standing by to help but. as we get a break here the numbers out. this
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in petersburg international economic forum is a unique to today's business world. over the last 21 years the forum has become a global platform for discussing. russia emerging markets the world. of business community members attended a forum to address today's financial issues. special forum coverage. china does not want to fight we are posed to fight it out at the same time we're not afraid of it china is bold and resolute and he's able to defend its legitimate rights and interests china is still holding the door open for the us china trade negotiations if the united states she wishes to proceed with them he needs to be
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more sincere. for the project was good if you give up on your birth for the rug if you missed it or don't bomb people with. the response or more with cheaper food in the indoor. to finance this i assure you i'm order to that. this. is new the nope must feel you've been easy in this loop in the news media most fear to move them are used to this and both of us are not going out. to change going to james bone in inning of their history kind of case that. you are never going. to reach your eyes because if you move to new or you more you would almost be dangerous. if the whole
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truth in doing. so would really only someone who knows the. rolling of the. winds and also a way of. brazilian president jr bronson arrow says the marco trade bloc will soon sign a trade deal with the european union the mercosur bloc which is the world's 3rd largest trading block consists of argentina brazil over a guy and paragraph in the past the block has also included venezuela however they have been indefinitely suspended since 2016 the deal if signed would join the 3rd largest trading block with the e.u. who is the 2nd largest trading block behind only nafta mr bond so narrow put
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a political spin on the now spent lot of his right wing ally president. macri of argentina for his role in the deal meanwhile a spokesperson for the argentine finance ministry said that they have been working with the brazilian diplomats on a plan to create a new joint currency for their countries as well as our guy and parent i called the real the spokes person projected the development of the real past so what in current and in the medium to long term. and the latest u.s. job numbers are just the president trumps choice to pick trade fights on at least 2 major fronts may now be taking a real toll on u.s. growth the latest official monthly numbers show 75000 jobs created in the u.s. in may expectations among surveyed economists were reported is closer to $175000.17 jobs the unemployment rate remained 3.6 percent looking forward some see the increase prospect of an interest rate cut by
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the federal reserve in reaction as an upside to the weak jobs report meanwhile white house press secretary sarah sanders told reporters on air force one that 5 percent tariffs on mexican imports quote will move forward and go into effect on monday june 10th statement came despite reports of mexican commitments in talks with the u.s. vice president to deploy 6000. troops to the border with guatemala and placed new restrictions on asylum claims. crypto currency is entering the mainstream as tech giants apple and facebook look to enter the space but how can something that is valued for being decentralized without a central authority power work when it is being controlled by corporate giant corporate giants that are currently being investigated for antitrust probes nonetheless i mean it sounds like they're undermining the true nature and origin of a crypto currency giving us his take we welcome back investigative journalist ben
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swan men 1st of all we've established last time that this facebook global coin isn't really a crypto currency it's a tether it's a stable coin it's a digital coin and right now it's being backed by a basket of currencies to be used on facebook's portfolio of products instagram whatsapp marketplace and others what's your take on this project now and why should users trust facebook to be the centralized banker when there are so many other stable point options such as makers di where you don't even need a middleman bank. that's right well the short answer is they shouldn't use or should not trust facebook in this space like facebook has already proven that they are not worthy of even holding your data for you without it being exposed to 3rd parties sold to 3rd parties abused or even stolen so facebook does not do a good job of protecting you right now as a user of a social media site why would you expect them to do a good job of protecting you as
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a holder and user of their digital currency which again as you pointed out rightly so is not a crypto currency but the other thing is this kristie facebook actually robs crypto currency of all the things that give it value the idea of decentralization the idea of a stab machine new monetary systems the idea of breaking away from banking systems as we know it it destroys all of that and facebook has proven itself to be a big brother working with governments around the world against independence among its users so i don't think we should trust facebook on any level when it comes to any kind of digital currency and then it also seems kind of counter counterintuitive to make this foray into crypto space that essentially positions facebook to enter the payments and banking sector when they're already the focus of an antitrust probe you know going into a new area when you're already under scrutiny for having a monopoly how is that going to play. well actually daniel and that's actually a really important point facebook needs to be investigated in terms of antitrust
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when it comes specifically to the issue of cryptocurrency considering the fact that new years of 2018 that mark zuckerberg said he was going to do it deep dive into crypto currency and learn much more about it within the next few months facebook as an integer band all cryptocurrency from appearing on facebook no ads were allowed to be sold if you had hosted any kind of bitcoin or crypto currency conference you couldn't advertise on facebook i c o's weren't allowed to advertise on facebook and so the idea was well facebook is protecting from scammers and all that well ok if you want to ban the i.c. it was because you claim that they're all scams why did you stop people from even learning about crypto currencies they banned everything and then turned around and loosened those controls about the time that they said oh by the way we're going to issue our own crypto currency and so here's the problem with that of course antitrust laws and even just going back into the fifty's laws have been passed that essentially say you cannot block advertisements that are competitive to you
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facebook was doing exactly that only at least i think the argument could be made for that they were protecting themselves against mass adoption of these other kryptos while they themselves were designing them planning to release their own crypto. now moving on to apple of they kind of did the same thing they said that they are now going to be released saying that i os 13 software which will feature a cryptographic developer's tool and this is also interesting because apple pretty easy delisted coined it and a whole host of other kind of the last time it's abstract so what do you make of this shift in attitude and why can you tell us about this yet busy again this very similar type of situation where coinbase was delisted from the app store as well as others what makes this just a little bit different is that apple could always lean back right now and say look we're not creating our own crypto currency we're using a cryptographic system that essentially allows you access to private keys and and it's a way of securing better your computer better securing your phone better finding
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your last item they could make that argument in there probably right for that but in reality it could also allow your i phone or your i mac. or laptop to essentially become a secure crypto wallet and that's really what this leads us to and by the way i have to point out because i love to say this about apple apple was once again behind others including samsung when the estyn came out they already had a crypto wallet built into that technology so again apple was behind but a little bit different than facebook but even so could be the same issue with antitrust. kind of sounds thank you so much. i thinks. and finally while cryptocurrency is the most well known application of block chain there are there are also uses like improving the supply chain at that point in his or bush in bev the parent company of budweiser stella artois and a number of other familiar brands has upped its investment in
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a plot chain startup called bank q the minnesota based bank you works to connect suppliers such as farmers who don't have access to bank accounts directly with companies and organizations to eliminate unneeded middlemen throughout the supply chain a.b. in bed made an initial investment with bank he would august of last year and lost a program in zambia that helped unbanked solve the farmers the services were eventually brought to uganda india brazil costa rica indonesia jordan malawi somalia south africa syria uganda and the united states part of the latest investment into bank you will be used in an attempt to expand integration into china and mexico according to estimates by the world bank in 20171700000000 people worldwide were without bank accounts. i mean that is absolutely all number right now the numbers are actually closer to 2000000000 people people are without bank accounts and that accounts for almost
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a 3rd of the entire wall population so if you think about it they don't have access to sophisticated financing if they can't have access to that like where is their reputation how can they borrow money how can they get a mortgage things like that so this really opens up for a lot of people not just as a matter of income but the things you can do with the money that you have it's a it's a farm out of building credit and reputation because right now they can't they have to use the cash that they have. that's it for this time you can catch boom bust on youtube dot com slash boom bust our teeth see you next time. i would hope to do something to. put themselves on the line to get accepted or rejected. so when you want to be president and you. want.
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to do it for us this is what the 3 of them want to get. interested always in the water. you. should. see this before in the eighty's with the rise of japan and the u.s. how to respond rejiggered the global currency markets at the plaza accord this is rake in the same people that gave us the plunge protection team after the crash of 1900 so china doesn't seem to be wanting to play that game so they're going to have to come up with some other strategy that's a moment appear on the horizon. the slowness of the blue to them so moving. and good news was before.
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much of those who heard it's a preview. to see him we will. we will. move . move. move show you this new video of the liberal media to look good. muslim also these girls will give you films for good girls. to go to shows so look but do you disagree you believe it's good to go. to startups to. get to meet until it was the middle of the mist they'd say look it is it's. just ashton understands dish to you it's a mash told. to stop the president and please introduce more students.
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as we have petitions to toast listening to snoop to come up with new it because that is the cousin with you swear your supporters to your machine station shouldn't tell you should cook door for the one who's doing does the. bloody mary put in calls out to america and other nations for not practicing what they preach and not only when it comes to trade wars the russian president's assessment came at the st petersburg international economic forum speaking alongside other world leaders. british prime minister theresa may officially steps down as the leader of the conservative party now the race to replace her is on with
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11 candidates eyeing the job. for the.

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