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tv   Boom Bust  RT  November 17, 2021 7:30pm-8:01pm EST

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adoptable b that they are, they're all priced and that they are a victim, and therefore something needs to be done. well, thanks for joining us here on our t international. we're back in 30 minutes. we're the latest to see that ah, ah ah .
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join me every thursday on the alex silent. sure. when i was speaking to guess from the world of politics, sport business, i'm sure business. i'll see you then when there are problems like the energy crisis, europe, illegal immigration unfolds border or even when the wrong political party or politician wins. there is a culprit, always waiting in the wings, and that's russia. scapegoating. russia is the excuse used by failing western leads just with his bus. the one business show you can't afford to miss. i'm been one and i'm bridge born washington, and here's what we have coming up. china says the world, let's work together to boost the global economy. with the countries vice president,
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thing quote, china cannot develop in isolation. meanwhile, the u. s. is set to meet with japan, south re an india to both are trade type, the counter type influence. we'll discuss what it all mean that it did to sidestep us sanctions while way recruiting smartphone partners as a way to gain access to critical component. well, the strategy work, we'll talk about it. and finally, american farms are dying of in drawing up and farmers are hit with right. and coff profit falling customers, outsourcing products. we're gonna dig deeper into americas farm crisis a pac show today. so let's get to it. let's begin with these new statements from china that the country must not be isolated from the rest of the world and must work with other nations to boost economic growth. but don't china for you. they are working with the rest of the world. insignificant ways, all of this though, is set against the backdrop of new u. s. moves to bolster trade ties with the rest of asia. as the u. s. is working to counter china's influence just 24 hours after she and by and met for the 1st time
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by a video on tuesday, china's vice president stress that beijing and washington should keep their focus on cooperation. managing control their differences to not only bring the bilateral relationship back on track, but also contribute to the world economic recovery and peace. joining us now to break all this down, professor richard, well, host of economic update always. the pleasure to have you on professor will top us trade and commerce officials are meeting this week with their counterparts in japan, south korea and india, but not china in attempt to build stronger economic ties with friendly nations in asia. why leave china out of these discussions? well, i think it's a combination policy. you'll reach out with one hand to china because you know, you have to. and then with the other hand, you're kind of slap them a little bit, hoping that somehow this combination works better than the 2 alternatives by themselves. we've tried the bluster,
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it doesn't work. we've tried the cooperation were frightened by trying as growth. so this is a kind of a combination policy. it doesn't make a whole lot of sense, but the other policies didn't get the united states where it hoped to go. so i guess they're trying this as a kind of practical gambit to see if maybe it works better. i wouldn't hold out much hope. yeah. you know, i, it seems like china is playing a little bit of a game here pretending that it doesn't want to be isolated. but let's be honest, here. china, maybe the least isolated country in the world in terms of being able to influence other countries. the belt and road initiative obviously is huge. we know that china is literally buying the rest of the world in terms of creating infrastructure for so many other countries. so is the u. s. thinking they're going to get leverage here that they may not actually be getting i don't think they're getting any leverage at all. they had done this kind of thing over and over again. they've used military means cultural means political means i economic means like these meetings
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. it doesn't work, the vital interest of china is 2 things to survive and not be attacked militarily, by the only power that can do that, which is the u. s. and number 2, to keep the peace, it's very important that people understand they want peace for a simple reason. they're winning for the last 25 years. very economy has grown faster than anyone else's. 3 times the average rate of the united states time is on their side. if they can get more time, they will become literally the overwhelming global superpower replacing the position of the united states for the last century is a very big historical moment. and they're going to make whatever little adjustments they need to to get these 2 vital primary interests served. yeah, and that,
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that kind of is the point, isn't it? i mean, you said time is on china side. so that clearly is the case. they have all the time in the world quite literally not to be able to pull this off. the other problem though, as we say, the european union, the u. s. in japan, announcing on wednesday they're going to renew this trilateral partnership to address what they're calling challenges posed by the non market policies and practices of china. really, i mean, it seems like you have almost an antiquated model to deal with china that, that it's time is up. this isn't gonna work. you're, you're, you're running through the same process, you've run through for years and, and not recognizing that that policy has to be dead. you know, there's an added point to what you say then, that it's quite right. over the last 2 weeks, goldman sachs and j. p. morgan chase have both urged their major clients to continue to invest in the people's republic of china. very
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similar, dealings are being made by leaving corporations in europe and in japan. so part of this is a kind of political theater, right below which the very processes of the last 25 years are in play. and the leading capital is powers. the private corporations are doubling down on china. they don't seem to be worried that anything big is going to be changed here. i want to have one last point professor. well, poor guy got about 45 seconds left, but what can we actually expect to come from? the relationship between the u. s. and japan, and they try to counter the chinese influence. they're going to be torn between 2 objectives. it's the same with the united states in europe on the one hand, they'd like to get together to add pressure. but neither of them trustee job, neither the japanese americans or vice versa. beach is afraid, the other one will make to deal with trying to leaving them in the cold. this kind
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of tension never ends very well. my guess is they'll limp along as they have been doing. and it seems like it's been going on for awhile and it's going to continue as you say, professor richard will post them economic update. thank you so much. thank you. and thinking with the strange relationship between the world's 2 largest economies, we have heard about the toll of the ongoing tech dispute between china and the u. s . and what it is had, especially on why way, in fact that trump era section is cut off access to much needed semiconductors in google's android operating system for their devices. the telecom giant has seen sales. that is consumer business fall for the last 4 straight quarter. yeah, but now bloomberg is reporting that wall way is looking to licenses designs. the 3rd parties would be a way of getting around these components blocked, to betray ban the report size. people familiar with the matter saying that wall way is contemplating working with at least 2 chinese companies to circumvent the band even sell their designs under a different brand name. so this raises the question,
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will this actually work to bolster while we're struggling consumer business? joining us now to discuss moscow, host, christy, christy. all right, so what exactly is what we're doing here? i mean, i think it seems fairly obvious, right? at this point, you have a struggling consumer side of your business, as we mentioned, but you have technology that in many ways, at least why we would say out pieces, anything else on the market right now? is this a way of getting around those tre bands? will it actually work? absolutely. the entire point of it is circumvent the blacklist and license some of the design possibly to the nova, which is the unit of the china post on telecommunications appliances, and telecom equipment manufacturers. tv tech, l tv. that's another company that speculated to be on the list for consideration. so the noble already sells hallways, nova series phone. so already they have a good partnership in place. so by licensing it's designed to a 3rd party company way will then be able to gather components like the p s. m. c chips. and the 5 g modems necessary for their smartphone. and this move could also
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help to bring back the google mobile services to far away devices as well. now, under this work around why way it will not be selling phones under its own brand name. the 3rd party companies will be selling while we develop devices under their own brand hallway, would actually benefit from whatever licensing or profit sharing deal signed between them. and while this certainly won't help hallway in developing its brand further, it help that it's already a huge brand that customers will already recognize the design and be loyal to it and know that it's a good product, even if it's labeled as something else. but yes, if it's able to boost the sales and distribution this way, then absolutely, it's a very smart work around to help the portions of the mobile businesses that has been damaged by the us. now chris, the, i mean i guess i don't want to be a ne say are here, but if it seems like bloomberg is reporting this is obviously public knowledge. but this is what they're doing to attempt to circumvent this trade band and blacklisting. when do you expect the biden ministration to take action to stop it, especially after they just sign new legislation last week preventing while way in v t e from getting equipment licenses in this country?
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i would certainly expect some sorta response from the vitamin ministration, seeing as they're still trying to put on this tough on china stamps. but the thing is the entire point of the legislation to block quality and what because they were doing to be security threats. and they didn't want them receiving new equipment licenses from us regulators. so it was to ensure that the so called insecure gear from companies like hallway can no longer be inserted into america communication network. so that's related to another business sector of our, which was their telecommunications networking division. the us didn't want to try to do building out our own communication network even though there have been no evidence of any wrongdoing on our part. so meanwhile, the circumvention is to help to get chips which is related to his bread and butter consumer mobile devices division, which is completely unrelated to their networking. so i can see the, by the ministration, not be happy about this work around and trying to do something about it. but there will be no legitimate reason for doing that because they're simply selling mobile
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phones to customers, to chinese customers. so there's no national security threat around that. ok, so let's shift from, from one way over to china telecom because on monday, trying to telecom at the fcc to put a temporary hold on this decision. that was gonna force that company to discontinue us services by early january. they said that this short timeframe is going to harm its business. reputation and relationships. obviously that's already happened. but what exactly is the argument here? because isn't that the goal of the f c fcc at this point they want to hurt its business, they want to hurt the relationships they want to cut profit? absolutely, right now the fcc is doing everything they can to try to put the squeeze on power. but the argument here that they're making is that firstly, the fcc has absolutely no evidence of the company being a national security or law enforcement. it is very similar to the argument that was actually used by show me at the start of the year when it requested to be removed from the d. o d officials list of cc. i'm excited that the ruling would cause
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immediate and irreparable harm to show me, including cutting as access to the u. s. capital market. now the u. s. course eventually went on to will in favor, show me setting precedent with the duty actually agreeing to move the designation and also allowing the company to operate in the u. s. so in this particular situation, china, telecom was given 60 days to stop providing domestic and international services, basically out of nowhere. so trying to telecom has previously provided telecommunication services for 20 years in the u. s. and serves more than 335000000 subscribers worldwide. it also provide service to the chinese government facilities and embassies in the united states. so this fcc action would force it to withdraw and it would have to basically sell its entire mobile services in the us here, within 60 days without any warning, which is basically what they're saying is unjust and unreasonable. so china, telecom is going to fight this using the same logic, i show me. and they've argued that sbc should have 1st held at least an
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administrative hearing, given them a chance. and the fcc has offer no evidence of any sort of imminent threat to have this kind of timeline. so it can be added that they're actually actively negotiating and arrangement with another service provider that would allow it to seamlessly transfer its mobile services customers to another provider, just in case things do not work out in their favor. you would think that holding at least one administrative hearing would be the least the fcc could do boon boss co host, the incomparable kristi i thank you and it's a big win for advocates for the right to repair movement, right, to repair, of course is the idea that you, as the owner of a product should have the right to fix your own device or take it to a 3rd party to fix a broken cell phone or computer screen. i know it seems crazy. what a crazy idea you be fixed. the thing that you bought well now apple seems to have moved to the side of right to repair, announcing that it will begin a new self repair service program beginning on wednesday. the program will 1st
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allow i felt owners to replace their screen, their battery, or the camera with more parts. coming later, the service will be available for i phone 12, an iphone 13 in the us. later the company will sell parts, so consumers can fix their max that run on the apple in one ship. essentially, customers can buy parts through apple, self service repair online store, and then orders will include a repair manual, hopefully suction cups as well. if you've ever tried to do this, it's a bare users who return their use parts later for recycling can receive a credit toward the purchase of their next i phone only 3 months after they bought the one that they brought. i mean, it's absolutely crazy that it took this long to do this and you know, when you heard about them, talk about it in the way of an anti competitive practice as the right to repaired the need for that. it was huge. and obviously we think of it as electronics and batteries, it's cellphone screens. one of the biggest things that was actually involved with right to repair, are people who own tractors, farmers in america who own tractors because they have to go take them to a repair shop who has to put them on the system and plug in their proprietary
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equipment to be able actually see what's wrong with it and they're like, we can fix this on our own. it's incredible. so i think a lot of it comes down to do you actually own your device? i think you do. i think you do it now for a quick break, but when we come back in recent decades, american manufacturing farming has been decimated by a wave of outsourcing. love discussion with steve groupers working on a new project on that issue. as we get a break here, the numbers of the close ah a new york, it's really what america is about when
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our mayor took our place, he was elected because of his campaign on our city, being a tale of 2 cities, the halves and i have not and those who have not are usually the ones who wind up being buried on hard. i. the city is always wanted to forget about hold island. city is wanted to forget about the people who are buried there. it's wanted to forget about the fact that there is a potter's field that there was a place where difficult stories are hidden. the fact that we're using inmates to maintain this active burial site, where 1000000 souls are buried. where so much of new york city history is buried is documents of the quality that exist in the city. for centuries, prices for gas is gonna be up dramatically by the time the elections because vine
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has an adjust the true cause of this calamity. and that is the excess of money printing and they, they're scheduled now to double the money supply, the empty money supply again, i'll the next 12 months. they've doubled it over the previous 12 months. they're going to double it again. so gas is going to $89.00 a gallon. oh, there's a patch of water around the try seal island that's in contention. between canada and the united states, northern gulf, a maintenance suddenly become optimal for lobster. our populations here is exploded . one of the most valuable fisheries that's ever existed. suddenly you had made an canadian fishermen in these waters at the same time jousting for position and attention are high, violence is bound to happen. this is the last land border dispute between canada and the united states. it could be magnified to the point where there could be
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costs that would be significant to post countries. border dispute don't go away. it's assessed or something's going to happen. and welcome back, you know, a bus we'd regularly talk about the plight of american workers supply chain issues . while those have obviously been in the news recently really dominating the news and the aftermath of coven 19. and although ship sitting off the coast of california right now, but outsourcing and farming and manufacturing has taken a toll on industry throughout the us. as big multinational conglomerates chase profit by using cheap labor r t. america has a new documentary series coming soon that addresses these exact issues of the american farm and the american farmer facing more challenges today. that at any time in my lifetime and probably on the import someplace like peru, canada,
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and mexico are forcing the american farmer into a place. they can't compete. $10000.00 american farms go bankrupt every year as a result were going to talk about that. and so much more coming up on shapers, forgotten america right here on archie, america. and joining us now to dig into some of these issues and what exactly we can expect from forgotten america is steve group, or he's a michigan man, but we're not gonna hold that against them. why wouldn't that be from ohio obviously, and you know, that you're in the middle of the country. you talk that you've seen farming be hurt by the issues that you talk about in the theories you've seen manufacturing heard. but tell us about farming 1st. well, you know, i grew up in, in the midwest, i've seen the farms turn into subdivisions of the farmers go bankrupt 10000 a year now. and here's something i learned along the way that i didn't know ahead of time. i think you guys were both fine starting the number one profession for suicide in america today is farming. and that's pretty startling to me. and i think
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it's pretty remarkable to learn that farming because of things going on. it's about big factory farms taking over buying out the small farm. but it's also about the small are being flooded with imports from canada, mexico peruse south america. they can't compete because the amount of money that they have to pay to get their crop to market. they can't compete with someone who's shipping it from halfway around the world. and that is remarkable, and it's devastating to the american farmer. another issue that's also facing farmers that a lot of people don't understand in the industry is also that a lot of farmers don't own their land anymore. it's all owned by big multinational companies. and they basically rent it and they can take off of your profit and they can do that. so it's a great, that's all true. it's not dated land as they say, the land is owned by a variety of different people. and these big factory farms come in and they use mass priming techniques, which we know the environmental downside of that can be pretty, have a stating as well when you have massive farming. but there are things going on. the people don't pay a lot of times to the largest meat processing company in america. smithfield was
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bought by the chinese communist party in 2004 for $4600000000.00. there's only one american base meet processing company. now think about this in terms of inflation and everything that's going on right now. and just seeing the price of beef and the price of poultry, the price part going through the roof. one company in america does that still? it's tyson the rest of it bought out by the companies and other countries, most notably smithfield, back in 2004, which i think puts us all a bit of risk because what's more important about national security than what's on your dinner table if there's nothing there people tend to be, well, if it's my brother, very young. angry. absolutely. let's talk about manufacturing. you guys started talking about where you're from. i'm from texas, but it's been 5 years living in ohio. you drive through any part of pennsylvania, ohio, west virginia. and you find these towns that are essentially shuttered now, right downs, at one point both were vibrant. they were the heart of america. they're not there anymore. what's happened to manufacturing? i mean, you mentioned china a minute ago. labor's all been outsourced as well. well, if you talk to
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a lot of folks, the north american free trade agreement happened and nap to really did a lot of damage. places that i grew up outside of lansing, michigan. there were 7 general motors plants or when i grew up, there's 2 left are in another installment of this program. forgot america. we sometime in, muncie, indiana, where ball state is, are, and name for ball glass by the way, canning jobs, where they haven't been there since 990 burke. warner has not been there since 2011 . i believe borg warner. excuse me. general motors was 2nd only to flint in muncie, and anderson, indiana. all those plans are gone now the middle class has been left behind because when those plans close. busy then the car lock closes and the store closes. daycare is shut down, the bars go away, the restaurants closed because that base income is devon said, it is so bad. and anderson in vienna today as we sit here, there is a conversation going on about just damming the river and turning it into a reservoir. i think you can't make that stuff up. it is so bad that just turn it into a lake. the other thing that you see happening in
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a lot of these cities is billions that were one factories right. that housed thousands of workers. in many cases, being paid a good wage. middle class americans were able to work. these jobs in factories have now been replaced with shopping. right? is our bucks are sitting in there. and so there are jobs that are still in those buildings, but the wage someone can earn in those kinds of positions is even close against, afford a family work in the mail that because what we have become, we're not a manufacturing economy anymore. we're a service economy, that's what we have shifted completely. and during a couple of these conversations that i have with folks that are right in the heart of this, one of the gentleman i spoke with, i worked at berg warner for 23 plus years. and he realized at the end of the run, he didn't have a retirement, he didn't have anything, he was just set on down the road. i also asked him if we were to happen today, if it out of a, what would you do? could we survive? they're all like, no, we don't have the manufacturing capacity to have the arsenal for democracy that we have in detroit, and toledo,
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and anderson and muncie and all of these cities across america. there were small and medium and large factors across america that are just gone. they're just gone and it's a fascinating story because i've covered the same story. i mean, not the same exact stories, but i covered the plate of the american working man for, for a long time. and the fact is that the stories you hear from individuals are a heartbreaking, so we can't wait to see forgotten america. obviously wherever we're going to learn a lot from the group or host of the see if you ever show. thank you so much gentlemen. thank aah. or finally, today, an iconic sports arena in los angeles. you know, the name, the staple center, right? it is getting a name change. while you might expect the naming rights to go to another major retailer or insurance company or bank, you've never heard of so fi. instead, it's going to go to a crypto currency exchange or to correspond natasha. sweet fills us in on the upcoming name change. that's right, it's only been just
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a local hang out. a staple center is also a major force attraction here in downtown los angeles. but now be prepared to call it crypto dot com arena. the staples center is just that a staple in the city of los angeles. home to the embassy, los angeles lakers, and it shall kings as well as concerts and other major events like monster, game staple center is a place where fans come to support their team in city, see a celebrity, or to even a place of mourning for when celebrating the life of the late basketball superstar copy bryant's it may not have the same ring to it as crypto currency is taking off the singapore base crypto dot com stroke a deal with the arena's owner, a g world wide, and now has a 20 year naming rights agreement for an undisclosed amount of money. the name change is effective starting december 25th, but it isn't the 1st time a crypto currency company has decided to use a major sports team or players for that matter to boost business. f t x pay 20000000 for an ad campaign featuring football player,
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tom brady and his wife supermodel. giselle boonton the company also into deal for naming rights at the arena where the miami heat play. so if you're planning on coming here for him or an event next year, don't be caught up far when it's no longer called the staples center reporting for boom, bus and hashes, suites, archie. and this is an absolutely fascinating love, dory. i mean, whenever we talk all the time about how crypto is becoming more and more mainstream, and now every time you see a makers game, a clippers game, a king's game, i'm sure there is more a sports there that i missed that i detached as much. oh, you're going to see crypto dot com and the crates they to was about. this is the stable centers become iconic. that's the house that kobe bryant bill. absolutely, it is. but look, i think what's really interesting about this is if you've spent the money you've spent to get the name crypto dot com, that's not a cheap name, right? you are the crypto entity that should have naming right someplace. because that's when people are looking into crypto. how do i get involved? what exchange do i go to?
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you might think of coin base. you might think of cracking. you might think of, you know, different x you, there's so many that you could choose from a crypto dot com. that's the one that fits with that mainstream. pushed to say, hey, you want to try it out. and you can watch back and $700000000.00. it's a record breaking deal for naming rights. i mean, is it the biggest deal we've ever seen? no naming rights. it is. it's a big deal. yeah, absolutely. and that of them for this time, you can catch boom bust on demand on the portable tv app available on smartphones, tablets. google play in the apple app store by searching portable tv. portable tv can also be downloaded on the samsung smart tv roku devices or simply check it out at portable, not tv. we'll see you next step in . i went down ourselves to be more efficient quicker with our transactions. but with
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that comes a trade off. every device is a potential entry point for security at any machine can be hacked. it's an extension most traditional time. the defenders have always been one step behind the attacker's permit of when one comes option or it's not a matter of. if it happens, it's a matter of when technology is perfectly well into the future, but we can't change our way of thinking oh, way that we can visualize how we will food and how we will feel and how our needs will be in 50 years. so our own, do our own technological debunk things always further wrong than our ability to feed
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a turning off the taps fella roost temporarily shuts an oil pipeline which runs from russia to poland on the into the e. u. scheduled maintenance is the stated reason for the hold put comes at a time with heightened tensions between mid scan bristles, shop divide, emergency poland tactics with france slamming plans for a massive wolf to be built on the border. we look at the tough line being taken against people crossing from bella bruce. while my gordon quotes, i freely crossing the mediterranean accusations of bias and defamation fly is a divisive trial of coll rittenhouse continues in the us cause. this is the judge bronze, the mainstream media's coverage of the proceedings, grossly irresponsible,
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