Skip to main content

tv   Boom Bust  RT  January 18, 2022 5:30am-6:00am EST

5:30 am
ah, this is boom, bought the one business show you care to coordinate the umbrella keyboard. and i'm rachel blevins in washington. coming up the world. i found it kicked off it's virtual summit. we'll tell you what kind of president had the day and what we've learned about the performance of the chinese economy in 2021. bed manufacturers in the u. k. are feeling the heat from during inflation. we'll take a look at how those rising prices are impacting the post bracket era blog as the crypto space continue to expand. the 1st european nation is taking steps to curb the influx of advertisement. we'll look into what's going on in spain with a lot to get to. let's go and we lead the program with the latest economic data out of china, where growth slowed in the 4th quarter to 4 percent bringing the total growth for
5:31 am
2021 to 8 point one percent. now while it was less than expected, it comes after a year in which beijing launched crackdowns on both protect and real estate sectors, as it continued to recover from the pandemic. now addressing the world economic forum virtually on monday chinese president choosing tang pointed to plans to promote common prosperity in the year to come. we have realized a moderately prosperous society all respects and won the battle against poverty. thus, according to plan and found a historic solution to ending absolute poverty. now, china is marching on a new journey of building a modern socialist the country in all respects. now, all tensions continue between the u. s. and china also building between the u. s. and russia, president, she argued the focus right now should be on turning away from a cold war mentality and focusing instead on developing new drivers of economic growth and facilitating cross border trade is major economies slam on the brakes
5:32 am
will take, you turn in the monetary policies there will be serious negative spell offers. they would present challenges to global economic and financial stability and developing countries would bear the brunt of it. and joining us out of this gas has been thus co host, christy i. now, christy, what do you make of the latest economic data from china? i mean, we saw growth decrease from new by nearly one percent from the 3rd quarter to the 4th. is that to be expected, given the slow down in china? is real estate sector? well yes it is to be expected as the recovery has been losing steam since the 2nd half of 2021. so growth got dragged down in the 4th quarter by as you mentioned, the slow down in the real estate which was then further amplified by the spill or fax from the ever grand problems and other defaults by high profile property developers. china also struggle with renewed coleman outbreaks as well,
5:33 am
which for its businesses to raise restrictions and effect areas, and that affected consumer demand, especially for the services sector. things like major travel and restaurants. and now looking forward, though, if china continues to stick to a 0 cobit strategy, domestic demand is going to be under some serious pressure. because right now there is absolutely no sign that china will loosen or relax this kind of policy anytime soon. so the government will be ready with some sort of monetary policy measure, if there is any sign of a nice they can slow down. meanwhile, the government has tried to maintain this very delicate balance of trying to put the squeeze on tech and real estate, which are 2 sectors that have gotten very bowl delicious. but at the same time trying to maintain a very controlled growth of these 2 very important sectors to the economy. now, christy, there's also been a major focus on china. the industrial production, given the impact that has worldwide and data shows it rose more than expected in december at the same time, auto production group for the 1st time since april,
5:34 am
up 3.4 percent year over year in december. what signals is that giving us for the year to come? well, it shows that china is still going to remain the dominant manufacturer of the world, at least for the foreseeable future. because during the trump administration, there was a big push to move companies out of china, and he made things very difficult for companies with deeply rooted supply chains entrenched in china. and as a result, we saw a handful of them look elsewhere for production in places like se, asia, indonesia and india. we talked about the migration out of china for manufacturing and it, and they, those small countries benefited greatly from that, pushed by trump. but unfortunately though many of these places, although pricing wise, it was very comparable to china for the labor, but they still didn't have the manufacturing infrastructure to handle the volume. they not only nak last the skilled labor but also the supply chain knowledge and also access to major porch which then tacked onto the cost of transportation and then the overall cost of goods which made them move completely inefficient. so now
5:35 am
after the comb with him demick, china's manufacturing sector remained intact and stronger than ever, with many disruptions around the world. china still managed to deliver goods in the country, is more result resilient than ever. and now, as i mentioned, since the fact that the auto manufacturing industry grew in china as well, that is a big indicator because auto industry is notoriously difficult to sustain. and auto industry support the wide range of business segments both upstream and downstream. which leads to this multiplier effect for growth and economic development. so in china, the auto industry contributes roughly 7 percent of g d, p output, and that number is only growing. wow, and it certainly can't be understated just how much countries like the u. s. rely on china, but even so, i want to bring up the comments we heard there from president she, he's saying that the world needs to focus on working together rather than approaching confrontation. is that a direct shot at the u. s. given the increasing tensions we've seen with both china
5:36 am
and russia, well, it's a more of a message that there is a fine line between competition and confrontation, and a reminder that there is very little to gain in a confrontation. so much of this confrontation has been focused on, on a civil level more specifically on ideology, economic and disinformation campaign. and the fact that china's growth is outpace in the us and will overtake to us. that appears to be a major threat because no one likes being booted down to number 2. so it's difficult to not view the competitor as the enemy. so you see that in sports rivalries all the time on a political stage. there's so much more at stake and more to lose in terms of power, influence fine and cetera. so rather than accepting that, this is just part of the same cycle, the same rise and fall, and the power that existed since the beginning of civilization, the u. s. is going to be a bit confrontational and flex a little bit while it can what it views as of the so called threat. so yes,
5:37 am
it is going to contain of flex that russia and that china. and in the meantime, china is just going to be watching very carefully at the u. s. played look on how it treats russia as so now we have one more thing to have about a minute left here. but president, she also talked about common prosperity in 2022 and he's talking about global cooperation here. does the international community play a role in influencing china when actually they've asked for last week from the west at least. so how does that going to work out? well, the international community got a bit spooked by china, common prosperity goal as they kind of interpreted it as an egalitarian at them. so presidency g p, how to state it for the international community and clarify that the 2 are not the same thing after the markets were rattled. because under this policy, china has been b shaping the countries business and cultural landscape targeting the spin tech sector education and entertainment, celebrity culture. and so he attempted to ease some of these concerns,
5:38 am
insisting that china still remain committed and open to receiving foreign business . and in that respect, some of these policies are pro private sector pro entrepreneurship and pro small businesses will continue to be core for the coming year in order to ensure a fair environment. and all their policies are also played a role in shaping china. the china policy also include of course, the carbon emissions agenda. china repeatedly stress pledges to pick carbon emissions by 2030 and then neutrality by 20. 60 will certainly continue to follow how those policies play out in the new year. boom bus. kristi, i thank you for your insight. good. and we can't talk about the problem of ram, but inflation without touching on how people are expected to pay for the rising cost of goods. the pressure is being felt over in the united kingdom as manufacturing industry group make u k release data. on monday from a recent survey which found only 2 percent of companies involve had frozen pay this
5:39 am
year. the same survey last year found about a 3rd of respondents had done so, and the majority of pay increases have been around 2 to 3 percent well below what the inflation rate is currently which is sitting above 5 percent expected to get much worse than the u. k, the high end for wage increases is 14 percent, but that is few and far between. as of now this all comes amid the backdrop of skilled labor shortage. a minimum wage increase and appending tax increase in the u . k as well. so joining us out to discuss the, frankly for which use the president straw mark business development consultants and board member with the british american business association. hillary, always a pleasure. i what's happening here with manufacturing wages in britain while we are seeing more action than we might have seen last year. is it enough amid all the factors that are going on specifically as crisis continue to arrive and they faced that labor shortage which raising wages is going to get more people in the door? well, pleasure to be back with you again, brad. but i'm to few things actually over the weekend,
5:40 am
it was interesting because in the u. s, we have so many empty shells. and there were a number of names and photographs, movies, empty shows in the u. s. particularly at a not in progress sector. they were saying in the u. k, like gosh, amazing how bricks it has is global ramifications. these are these issues that are affecting the entire world. and a lot of it has come down obviously from overall from coded from supply chain issues. but yes, you're right. the u. k. is the hit particularly hard. why? because 95 percent of all goods, of course, are shipped into the u. k. but a few things you mentioned earlier are maybe rachel, that mentioned that make you k on survey that at one of them actually was conducted with p w. c. and that found that 73 percent of senior executives are actually saying that the opportunities in the u. k outweigh the risks. one of the things that's very interesting from all these sundays is that on the shoring is much more likely to occur in the u. k. so actually i will likely a lot of these global supply chain issues are going to be very beneficial for your question. you can manufacture which will help wages and help you fame manufacturing
5:41 am
in what ways? well, obviously there needs to be more resilience because of the supply chain disruptions that we've seen and a few things on friday, the u. s. senate who began to force us contract as a pastor of a board to the for a bill that would make us the for defense contractors, wine down all of that purchasing of ran minerals from china by 2026. what does this mean? this means that there's an opportunity in the u. k. in yorkshire. they're beginning to mine read or of minerals, and that will be very beneficial yorkshire in the north of england. so i think also you seen the nissan c e o in the u. k. also, they're opening up a new plant in sunderland, basically because of the supply chain issues. so the bottom line is all these disruptions have seen manufacturing investment, improve in the u. k. delroy and p. when you say see that's of a the saying increased investment in the u. k. what happened in 2022 bought?
5:42 am
yes, remaining wages right now remained stagnant because there's a lack of those wages behind or that investment. and certainly we've seen how the disruption type continue to play a role. now also last week make u. k said it's members expect things to be better in 2022. but the breakfast still remains a concern as it creates challenges to the industry. now, as negotiators work to resolve all of the post breakfast tensions between the e u and the u. k, do you believe that they are keeping their interest in mind? i think yes, i mean, this is about my business and industry always keeps their interests in mind. i mean, are they better be employees? not necessarily. i think what's interesting to see though is you look along the stock exchange, they just read them down for the proposal last week that was proposed that was reported in the city i am. and that was to erase the normal lines between public and private companies in terms of investment and access to capital. so i think what you're seeing is
5:43 am
a lot of organizations focusing on how can we attract investment in the u. k. now can we also the supply chain disruption? make sure that we keep things on shore in the u. k. and then also, the other thing is not to the u back further, a feel for trade investments that come from. absolutely, no hillary, you know, as we're talking about post brack britain, there's more talks happening this week to go through their set to as they say intensified over the northern ireland protocol. foreign minister lives trust. she's also in the neighbor exit negotiator. she basically was more conciliatory. this time saying, we want to work out a deal. is that a better move? are we looking get a better conversation now rather than saying we're ready for article 16? well, yes, i think you saw actually a shift this week. i'm not when. when michael, go with an office and not not in the form of law february, have we seen a so off the meeting and shutting them that they're in? can't they had
5:44 am
a meeting over the weekend and actually i believe that this was all is truck idea. now, and that was instead of just as doing shot, she actually hosted that can, that came over and he stayed with her. and over the weekend they actually had some of them well slammed. and can apple pie? what did that mean? they issued a joint statement afterwards. and this is a very different child. busy you're absolutely right, but i think this is going to mean what i think this means a joint statement coming out from them at the tone. and yes, you're seeing a completely different tone come out from her office. absolutely hello report, which of still mark business development consultants. thank you so much for your analysis today. and mortgage rates here in the u. s. are out for the 3rd straight week, even hitting their highest point since march of 2020. at the start of the pandemic, the 30 year long rate hit nearly 3 and a half percent last week, from 3.2 percent the week before. now this all comes one year after mortgage rate hit a record low. now,
5:45 am
as for what's behind the increase we've seen in recent months, well, you can thank inflation which remains near 40 or highs in the us while the federal reserve is reducing asset purchases and planning to increase interest rates. starting in march, their actions really haven't had an impact on these rising prices just yet. now the and the increased mortgage rates combined with the skyrocketing housing prices we've seen are bringing about concerns. they could impact would be home buyers in the month to come and sign up for a quick break. but when we come back, spain has moved back down on crypto advertisement. as the european nation is making an effort to rein in the unregulated sector is going to break here the numbers with
5:46 am
yes, now i will. i, lisa typical, there is only 9, but already a university student that away national a. you've got the last, there's doors to deal with a level. you're special, but i was the yeah. my i said, we're not going to get what the plan was to get up to him. was anyone shipping something with
5:47 am
his teacher was or reason this one is a good a so called enhanced interrogation techniques used by the u. s. officials
5:48 am
were basically designed as techniques to break down the human mind. if you force a human being to stay in a certain position doesn't take very long to the pain involved to become absolutely excruciating. but nobody slain finger on you. you are doing it to yourself. we started adopting those techniques when i was stationed in mosul among them worse press positions, sleep deprivation, conducing hypothermia. there's already beginning to be evidence that these old techniques are now being used on immigrant and children, whatever you do in war, comes from home. nobody has been held accountable for the torture that happened in the past and the moral authority, the made america will later sacrifice the shimmer of effective interrogation
5:49 am
with welcome back. you might have noticed large numbers of crypto ads are starting to pop up just a few weeks ago. we told you about crypto dot com, 700000000 dollar purchase of the naming rights to the staples center. and you've probably seen their high profile ad starring matt damon with the tagline. fortune favors the brave. but not all governments are on board with these measures. in fact, spain's government has just moved to rain in crypto asset advertising. spain is placing restrictions on so called influencers promotion of crypto currencies and an apparent 1st for the european union. joining us now discuss our boot, but co host and crypto analyst been swan. and jeffrey tucker, he's the president of the brownstone institute. i want to start with you. what specifically is spain doing to rein in influence or promotions? yeah, well, they're essentially doing is saying you can't promote crypto. if you are
5:50 am
a celebrity or an influence or, and they're the 1st country, as you mentioned in the, you to actually do this. a lot of this was actually spurred by a famous soccer player who was essentially endorsing by nance. yeah, you know, coming out and saying, hey, you know, where do i buy crypto out or learn about crypto? i'm buying through by nansen. so he's sending a lot of people in the finance. right. but it's not the only country this doing something singapore, actually, it's called the monetary authority of singapore. and they have actually made it illegal. get this to, to advertise crypto at all or crypto products in newspapers, magazines, broadcast media or even in social media. essentially saying the crypto is dangerous and so they don't want to allow people to invest in these, in these, you know, crypto assets. and so what you're really seen right now is it is a huge shift that's taking place to determine whether or not crypto is safe and whether the public is safe buying it. or we can have one or a whole argument here. but part of what makes all of this, i think a little trouble. some, especially for someone like me is there are a lot,
5:51 am
a lot of bad players in this space who do take advantage of people. and it's easy to do that when you have people who are driven by, i would say kind of the tick talk, trend of investment, right? where they're influenced by buy mean coins rather than knowing anything about crypto space in general. right. and also makes you wonder what qualifies as advertising those crypto on social media. i mean, if the average person gets on there and they say something along the lines of, hey, i just bought this crypto from finance. i mean is not going to send the government after the messa question that goes along with it. now, jeffrey, whenever it comes to both of these cases, it appears that and then both of the governments are saying that these criptos come a significant risk in the influencers are not following the same regulation as others in the financial product. advertising would, is there any truth to that? yes sir, is. so, and free speech has not been allowed and financials for very long time. and your
5:52 am
typical hedge fund cannot advertise anywhere. they can't even have a facebook page linked in page. so what, what does some advertising to me anyway, as is mostly a democratic exercise, but here's my information. everybody can have access to it. that's good. yes. you know, i've been pun, tabs, got downsides too. because rackets and scams also use advertises times an industry . but financials have been long restricted in their free speech rights, and what they can come out take so that the way to understand what's going on here . and it's important other countries is, you know, it's been too long, effort for like a year or 2 or longer to try to regulate criptos that way. they regulate regular financials. so of course that's going to impact on free speech rights. and it's come to the us research. and so crypt companies and exchanges will not be allowed
5:53 am
to advertise in a normal way. they'll be treated like hedge funds arch day, or a lot of top companies, which is, you know, they get the cab speak out. and what this does is limit, you know, it kind of limits the information says only to the lead to have access. so it's ultimately answer democratic, but it's also consistent with the way financials are normally regulated. yeah, i'm glad you brought up the u. s. as well now, been there have been some issues with influencers, pushing their audiences toward crypto here in the us. correct. what's going on there? yeah, absolutely. and there's a lawsuit that was just filed against kim car dash, ian and floyd. we may weather junior because they were both pumping. a going called if theory a mac. right. and so kim, hard as she and, you know, puts up some poets, hey guys, what do you know about crypto i just learned about? there's also one called a theory, a max. and the employee may, whether, when he was, you know, and now the, one of his latest fights talked about the theory and max. he talked about it, i think, coin miami, at one point he's actually booed off the stage because he mentioned that there are
5:54 am
emacs, but he allowed for purchases of tickets to his fight in the theory. max, here's the problem, right? this is actually, i think, a great example of, of, of the issue. so jeffrey's right when he says some of these rules kind of push people, push, push all of the game to the elite. right? it allows these, these a leads to have control of the system crypto supposed to break that but stupid people. and i do mean stupid, like kim card ashy and employ may weather right there sort business people. but they're stupid when it comes to this industry because they're, they're treating it like it's, it's makeup, they're treating it like it's something that is easy to buy. you know, if you're gonna go buy some energy drink, it's not the same thing. and so when you go out and she'll a coin like it theory a max until people buy it, if you want to create rules on it, here's what the rules, in my opinion, should be. don't ban influencers from talking about it. require that if you're going to influence people to buy something that you yourself must own it and you can't pump and dump it, you can't throw it away. and then you have authentic influencers, who are thin typically saying, here's something that i believe in,
5:55 am
but that's not what's happening by the way, a theory emacs just for the record, has no connection to ether or actual if theory, and it's just in the name. and it's lost 97 percent of its value since it was pumped and dumped by celebrity jeffrey i got about 45 seconds. you could finish it off here yet. no advance right about this. i mean it's, it's extraordinary. them the number of coin felt that are willing to paint people just endorse them. you know, this goes on every day all the time. and i don't know i, i listen talk and i wanted me to think to see the wild left crypto. this is the price to pay for an innovative technology. you know, others could be a scam sters out there all the time, a pain people, lot of money to that stupid things. and then they'll kind of is a cracked on, on free speech and eliminating of information only to allude circles. and i, i, i think, and general a principal of freedom as you know in the long run going to be beneficial to
5:56 am
everybody. but however, the buyer beware, right, motors also bus fed swan and jeffrey decker of the brownstone institute. thank you so much peggy. and finally, it appears the largest retailer in the united states is playing up its position in the crypto and block chain game. i hope they don't advertise it illegally race. that's right. in the filing with the us patent and trademark office, wal mart, lays out a service, involve encrypted current, these entities and block chain technology, which could be used by customers in an online community. now you may remember a fake press release back in september that said, the retailer would begin to accept the light coin as payment, sending the all coin skyrocketing before eventually falling when it was announced that it was not issued by the company. now unlike that situation, this comes from an actual filing with the government, so at least we have that. but we should know that many filings of this sort are
5:57 am
based on ideas and projects in the works that may never come to fruition. now this comes is more and more major brands are trying to stake a claim in the multiverse. so i have a question for you, brent. are you ready for the metal? i don't fully understand it and i'm trying my best. i know you can buy property and cheese. i feel like the buzzword really, because i think i understand a lot of the technology, things that are going on behind it. but it is a matter of you just keep your own metaphors play. don't worry about it. i'm not question that wal mart understands that either, but i guess we'll find out today if there's money to be made there there. and that's it for the time you get boom, by on demand on the portable tv app available on smartphones and tablets through google play in the apple after my searching, portable tv, portable tv, you can also download it on samsung, smart tv and roku devices, or simply check it out at portable dot tv. well see you next. me. ah, is your media a reflection of reality?
5:58 am
in a world transformed what will make you feel safer? i selection whole community. are you going the right way or are you being led? to direct? what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. yes, i did receive that will at least the typical there's only 9 but already university students that away on slash a point. let's see,
5:59 am
i believe you got the last. there's doors to deal with no recalls. he really shows control such programs. now. bush like new prescription level. you're special, but i was the yeah. my i was thinking what the cost to get up to him was in your mind sitting this i'm dealing with with his teacher was all reason is balise. we'll come with a
6:00 am
a headline stories this our, the world 10 richest people doubled our wealth, while millions dia committed a damning report from the from charity safe to pandemic, has increased inequality across the globe. and they make, has really exposed inequality over the last 2 years. it's been really exponentially gone it at the airport and who's the victim? a judge say that a 17 year old boy who sexually assaulted that girl and then transition to a female should not be sent to jail for fear of being victimized. critics say the case is making a mockery of america's criminal justice system.


info Stream Only

Uploaded by TV Archive on