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tv   Boom Bust  RT  March 5, 2019 1:30pm-2:00pm EST

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pacific capital and conservative commentator stephen colbert joined us to discuss and later i told you about this twenty ninth he's in hong kong block change conference i did make the trip but boom bust is on the scene friendship for reports on the number thirteen chinese economy that will surprise most of you plus i'm told i'm told he has a drone i love drone stories all of that directly ahead but first but this a headline let's go. and international legal shootout over the future of the internet leads our global report today as chinese tech firms walk away as i mentioned and the chinese state prepared to push back on united states and canada in court this time leading the sudden legal pile up while way is reportedly planning to file suit against united states over a ban on use of weiwei technology by the federal government according to report in the new york times u.s. officials an act of the policy over stated concerns about the security of wild way components and the company's ties to the chinese government but while way says that
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policy amounts to a so-called bill of attainder effectively depriving the company of rights without a trial on another front while ways jail chief financial officer of man one jew held in canada pending an extradition request from the u.s. has filed a civil suit against cain eighty and authorities over her treatment ms meng's lawyer claimed she was subject to unlawful detention questioning and search of her luggage meanwhile in china authorities have charged to detain canadians with spying in a case that many suspect was filed in retaliation over the arrest of ms ming we get the latest on that and we do that right now our she's out of a hell of it joins us from toronto with the latest hey alex good to see you let's start with china canada relations we know that canada is proceeding with that extradition of while way executive ms meng to the u.s. and china seems to be fighting back what's the latest on that alex. call it a tit for tat or it could be something
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a little bit more serious than that let's be frank at the very beginning with this this whole extradition thing with meg when jogo of being sent to the us this could take forever when i say forever i actually mean years not the real forever and you know we break it down this is one of those procedures that it's not necessarily going to happen especially when you look at the u.s. and china right now people are talking about within the next few weeks there might be a trade deal and if it goes down well poof everything might disappear except for the egg that's in canada's face because of this arrest that was made in vancouver on behalf of the u.s. as it stands though may want joe right now she's suing canada is she saying what's going on here is just not correct that c.b.s. a which is canada border security agency as well as the canadian government that it's all one part and parcel saying that she's been mistreated this is just not correct and this is all part of the wall way maneuvering forward you know the step way and here is the tit for tat we're talking about michael carvery and michael spot or if these are two individuals that were arrested right after mangles arrest
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that same time the end of december two thousand and eighteen or so the beginning i should say of december they were arrested and now trying to say you know what these guys are spies that's what work using them of one guy was helping the other guy out so you can see china's rhetoric is building up as canada's rhetoric builds up that we're actually going to send this person to the states but all in all when they go and of the day if the u.s. and china deal goes through i wouldn't be surprised if proof is just disappears very interesting but you know alex i mean so the tit for tat now is you're talking about canada and china and how much do you think this might be directly related directly related to the china u.s. trade negotiations meanwhile way is being used as a chip by that the u.s. and the company has been having it i mean what can you tell. us about that main one joe's being used to the chip because she's a part of always she's the v.p.
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of that company one of the top exacts her dad is the guy who founded the company biggest tech giant on the face of this planet so the next step up wall way that's the bigger chip right is the whole company and that's what we're seeing now with was always reaction in the states they're taking the america to court is probably could be to texas to us district court their headquarters in the states is in texas and they're saying listen you're accusing us of spying you want to stop our five g. technology from being spread around the world the states are actively going out and telling other countries you should not be using while we technology and you we are not going to use it here at home so when the states say that wall weighs down step back of the proof that we want to know why or where we're spying where are we doing this new need to prove it and that's what you said off the top it's that bill of attainder when you look at that what we're asking about is a person or group for the you're punishing them without a trial and that's what while we say is says it's going down so this is what we're expecting if this keeps moving forward for a while we to push an action in this direction and i think they do have
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a point prove it then you can see that you don't need user technology not just making allegations that are out there without anything that's in stone you know you're so right alex i mean that day i we're a democracy you can as a democracy what you're holding this executive without you know given the due diligence in the proper things seems a sketchy to me r.t. correspondent alex male a bit thanks alex thank you. and continuing with weiwei here's a troubling circumstance americans living in remote and low income areas could end up paying more for telecommunications services if a move by the u.s. federal communications commission to block them from doing business with the white with weiwei is successful legal journalist molly barrows contributor with america's lawyers is here now to explain hey molly thank you for being with us i mean explain how sort of the rural and really also some lower income areas those americans might
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be affected by this move. yes absolutely it seems so many of these political tit for tat stories that we do whether it's the government shutdown or any other number of issues it seems like it's the low income people the ones that are that the wage earners going from paycheck to paycheck that are hit by some of these decisions and this is no different so the top administration in congress as we've talked about are taking a number of steps designed to hinder the u.s. operations of the chinese tech companies hallway and over surveillance and security concerns in their ties to the chinese government as you said well as a result of that the f.c.c. is considering a rule that would bar carriers that buy equipment or services from those two companies from using what's called the universal service fund it's a financial well that rule carriers can dip into to help with expansion and they often rely on it because they serve customers in those remote in low income areas well industry experts say rule telecommunications carriers relying on the u s f
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could suffer under this rule particularly if they are required to retire existing less expensive equipment that they bought from huawei it's an important issue regardless of where you fall over the security concerns because rule areas tend to be more expensive to serve and many americans will some anyway who live there they don't have access to fast or affordable internet access parts so it is a shame that they've been kind of caught in the situation you're so right and i you know we talk a lot of times in the states this may be true in other parts of the world for our viewers but i mean in the states you talk about the big cities you don't new york and l.a. and new this whole middle part of the country and outside to some of the big cities chicago st louis success i mean a lot of those folks they don't have they don't have five g. they don't have four g. they got no g. they've got nothing going for them right and it's crazy it's driving the home prices down they can't do businesses so this could be a real problem so molly what are the attorneys for wildly saying about the rule.
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well that was a great report a little bit earlier when alex was talking about some of the legal ramifications but among the other complaints they're talking about these technology companies say that excluding them from using the u.s. for excluding their carriers and buy from them from using that fund would lead these providers to forfeit those subsidies if they're forced to replace their network and consumers are ultimately going to be the ones who end up paying higher costs so attorneys for weiwei say if the company is allowed to compete freely that's going to be a huge difference that's going to yield a savings of at least twenty billion in building u.s. mobile infrastructure from two thousand and seventeen through next year and the company charge that the f.c.c. rule goes beyond the authority of that independent agency because evaluating national security concerns and supposed to be part of their universal service funds mission so huawei says this prohibition is on government loan or grant programs and that the u.s. subsidy is should not be included and even if it was their quote is if it would it would be arbitrary and capricious for the commission to rely upon it as
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a basis for its proposed rule banning expenditure of any u.s. support funds on equipment services manufactured by specified companies so the f.c.c. is now reviewing this rule will see what they decide you're right it's probably tied to a great extent of what happens in the national bigger picture with the federal government's relationship with china but let's certainly hope that as much as our country relies on advancement in technology people in rule areas need it too they need fast internet service they need good cell phone carriers they need good coverage and let's hope they don't get caught in the middle of this political tit for tat part and you know molly even the wall was just really one percent of that service in rural america it's an important service if that your service and as you say it maybe impact the least fortunate among us we always love having molly barrows contributor america's lawyer thank you ali thanks bart. and turning to africa algerian protesters are staying in the streets or staying in
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the streets to demand that their long serving president leave office at the scheduled end of his term the embattled president to get it right dell is these beautifully has held office since one thousand nine hundred ninety nine and he recently celebrated his eighty second birthday happy birthday the president is rumored to be in poor health since a stroke in two thousand and thirteen and power seemed to be held by those around the ailing leader protested flared since late february over chronic corruption and related economic doldrums while those around the president scramble to keep him in office after an election is scheduled for april over the weekend the president where those around him offer an attempted concession to the protesters saying that if elected mr beautifully go would not serve his full term protesters clearly indicated that it's not enough staying in the streets sunday night and into monday demanding that mr beautifully because presidency come to an end. and there are new
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developments in the aftermath of that deadly dam collapse operated by brazilian mining company a valet we've told you about the book for the company's chief executive and several others have resigned after prosecutors recommended they bake eight their positions the company's director for base metals has become interim c.e.o. that a parting c.e.o. fabio schwartzman insisted in a statement that he and the company have been quote listen to this loyal to our new non-negotiable values of up holding operational security in the collapse of the dam holding back mining waste in the state of meanest jarrett's collapsed over a month ago killed hundreds it was the second deadly accident at a ballet mine in four years. and time now for a quick break but stay with us because one hundred turn to china trade continues to percolate but is it at a. oiling point peter schiff the c.e.o. of euro pacific capital and conservative commentator steve ball join us plus our team's brunch abor reports in an emerging chinese economy that will surprise you
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and as i noted at the top of the show he may have a drone as we go to break here the numbers the closing bell will be back in a while. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic development the only move really exists i don't see how that strategy will be successful very critical time to sit down and talk. this is a stick from a water bottle found in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles
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of soda every day the idea was that let's tell consumers they're the bad ones they're the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. that's. a special projects funded. on the disease. but for now the mountains of moist only grow. to. put themselves on the line. to get accepted or rejected. so when you want to be president or injury. or somehow want to be preached. to the right to be press this is like the before three in the morning can't be good that
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i'm interested always in the waters in my house. i should. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics sport this list i'm showbusiness i'll see that. welcome back there's weapons manufacturing and purchasing news today involving the country of turkey u.k. car and jet engine maker rolls royce says they will ramp down a program to develop a new fighter jet in partnership with cal a group of turkey the two companies announced plans for the t f x jet in twenty seventeen saying they would design the world's first turkish fighter jet in
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a deal worth one hundred million pounds the partnership seems to have frayed over intellectual property issues and related distribution of profits rolls royce c.e.o. warren east told the financial times quote it's up to the turkish government if they don't want to work with rolls royce on another front turkey is having more success in erecting defense measures with the reported purchase of these so-called s. four hundred air defense technology from russia for a price of two point five billion dollars the filling plans first announced in september of two thousand and seventeen nato officials have expressed concerns about member turkey's purchase of a quit that is not in iraq or bowl with other nato members and built by a current atmosphere. and there's good news for labor on two sides of our world today in germany public sector workers have won significant pay raises after a days of low level work action the d. b. b. and verde unions announced they had collectively bargained for an eight percent pay raise phased in over thirty three months for three point three million employees
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they represent who work in a wide variety of positions including day care law enforcement and other public services health care and child care workers will receive slightly higher raises under the deal approved by unions and the government on saturday night in the united states the teachers' strike in oakland california we told you about has ended in victory for teachers and students three thousand striking educators on sunday approved a new contract that delivered on their demands for an eleven percent pay increase a one time. three percent bonus and improving the ratio of counselors and other supports death to students. and turning back to international trade in the law united states is returning to the world trade organization with a major response to critics of the trumpet ministrations tariffs the office of the u.s. trade representative robert white hisor has drafted a report to be released on friday in geneva that pushes back hard on arguments that the trump tariffs are incompatible with w t o rules the us t.r.s. office wrote quote the united states remains an independent nation and our trade
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policy will not be made here not in geneva we will not been not allowed to appellate body and distribute settlement system to force the united states into a straight jacket with obligations to which we never agreed. and us china trade continues to percolate some say to a boil with all that while we knew as we spoke about earlier but news reports suggest a deal could come soon on trade hitter discusses the c.e.o. of your pacific capital peter schiff and servant of commentator steve malzberg and welcome gentlemen it's always great to have both of you on the program a peter i want to start with you we've seen a lot of back and forth and sort of these shuttle negotiations this year we've spoken with you about it before peter but as we've sort of look at this getting to the underlying issue of state sponsored. competition with u.s. companies with other countries to an intellectual property are pretty tough nuts to crack do you think they can do it much less by the end of the month peter. well i
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don't think we're going to have a substantive deal that gets to the root cause of that i think that there's going to be a deal i've been saying that since the beginning i think that trump can't afford not to have a deal so there's going to be one but it's not going to turn around america's massive trade deficit with china because you know donald trump pretends that the reason we have these deficits is because of incompetent trade deals negotiated by his predecessors and since he's a great deal maker he's going to make a much better deal and now we're going to start to see a big improvement in our trade valve's that the problem is we're not competitive in manufacturing we have an enormous deficit in goods particularly with china and there's no deal that's going to solve that we have to get to the root cause of our problems which is excess regulation excess taxation too much government that has undermined our competitiveness in manufacturing which is something we used to dominate decades ago before government and labor union screwed it all up for us so steve let me ask you to follow up on that a little bit
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a little different than i what it was going to ask you about so peter talks about increased regulations former regulator here and so i take a little bit of a bridge but i guess because government could be a pain but i mean think about some of the crap that we get from china in the u.s. you know dog food that's tainted with stuff products are unsafe for kids i mean and i'm not i don't put words into peter's mouth but do you agree that you know regulation is part of the problem here with manufacturing i get what peter is saying about we may not bring back manufacturing to us but you think it because our regulations steve. i think regulation plays a big part i think you know it all fairness to peter i do think and in fairness to donald trump one of the first things he did was start reversing many of the policies put into place unilaterally by the the obama administration making it easier for businesses and for manufacturing so i think trump has been proactive in that regard and manufacturing has to an extent and peter knows that. there's
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a lot better than i do increase since i don't trump has has taken over we see you know a jobs numbers go up and up and up every month in the unemployment report so i think donald trump is well aware of that and look that. has played a big part of these talks and he set it up for the campaign remember part of which china every other word out of his mouth was china china china and what has he done since he's been president he put in tariffs he put in deadlines the talks have been going on and now they're probably get a call one eight in a in a summit with the two presidents at the end of the month. or well i i hope it's i hope it works steve peter you you said that you know the president talks about how everybody is always everybody else's problem right everybody else was a crappy negotiator he's the best negotiator didn't work so well in hanoi last week with north korea but let me ask you peter there's been some reporting that other nations are sort of feeling that if the u.s.
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china deal does go through that they worry about the impact of being left out of japan for example once a bilateral deal with the u.s. so what do you think peter. i mean i don't like a lot of other countries have trade surpluses with china i don't think anybody's going to be left out of anything again i think this is all cosmetics and it wasn't obama that caused our trade deficits i mean we had tremendous trade deficits before obama became president we had you know we finally took out the records that we said under george bush for goods deficits under under donald trump we just had to worst i trade deficit ever in merchandise under tropp so trade deficits are now bigger than they were under obama and so we haven't made any significant progress and the more we want to try to scapegoated on bad deals the less we're going to actually pay attention to the real cause these are self-inflicted wounds that we're suffering from it's not the chinese doing it to us we did this to ourselves and
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it's going to get a lot worse if the democrats take over in twenty twenty and try to you know implement any portion of that green new deal or a lot of the laundry did list of socialism programs that the democrats are itching to pull the trigger rob you've never heard this green new deal on this show that's the first time because it's such a crock and look i'm a progressive and i like all sorts of green things were green boom bust here but geez louise i mean god this thing's albatross around the democrats' neck they should have never introduced it let me ask you this steve. you know he the president president trump could he considers himself you know the dick the deal maker in chief right the d. i see and he wants to be the guy at the end to come in and strike the deal that didn't work out in north korea so even though he seems to have been good be able to seal a deal with president g. jumping at the end of the day. yeah and it's peter said trump was well aware he said over and over and over again that it's our own fault for where we are with
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these trade deficits absolutely agreed yeah i do think he will be able to now he said interestingly enough after the summit the failed summit in vietnam he said i may have to walk away from the china deal now there was some fear that he would find out that maybe china played a negative part in helping to have this summit fail because they pulled the strings on north korea but that hasn't come to fruition as far as anybody knows yeah i think he needs this as peter properly alluded to i don't think he'll take a terrible deal but i think he will take a deal and have a big fanfare later this month that mar-a lago i think that's where we're headed if you get a good deal does steve that does include all those things like in or like property we spoke about earlier. the first one to give him a big round of applause steve malzberg and peter schiff what a fun discussion thank you both guys appreciate it. thank you part here. and we now go to hong kong where the economy has really been on
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a roll i mean people heard about it for years right but but now there is an unexpected upstart archy's branch of bor has an exciting in an unusual economic move which has been made by a neighboring city the city of shien's zen and i always love stories about drones i'm told brand as drones. in two thousand and eighty in the chinese city of shenzhen in the guangdong province has seen its economy surpass that of their southern neighbor hong kong for the first time ever last year hong kong's economy grew by just three percent with a two point eight five trillion hong kong dollar gross domestic product walsh engines g.d.p. grew by seven point six percent rising by two point four two trillion hong kong dollars while hong kong has long been a freewheeling capitalistic society its northern neighbor has not just forty years ago the chinese city had a population of twenty thousand and offer little in the way of industry or agriculture mostly due to beijing's concern that they would be influenced by the state of capitalism here in hong kong today the city has
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a population of over twelve million people and is a center for technology and manufacturing hong kong's finance chief paul chan mopo recently said the slogan growth in hong kong is due to the ongoing trade disputes between the united states and china hong kong has struggled to keep up with the growth of the chinese city mostly due to their reliance on more traditional industry seventy percent of the hong kong economy relies on finance and real estate while seventy percent of the shenzhen economy is supported by manufacturing and technology you may not know about all of the tech giants that call shenzhen home but they are certainly starting to make an impact in the west should gen base while way is one of the largest mobile phone makers in the world the company has been in the news recently due to their c.f.o. main ones those arrests in canada in december at the request of the united states due to claims of threats to national security ten cent. one of the largest internet and technology companies in the world the media conglomerate owns we chat
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a messaging app similar to what's app and the social media site q-q. which boasts about a billion users ten cent also has their hand in numerous mobile phone games and holds a stake in nearly every video game publishing company throughout the world shenzhen is home to d.j. a company that manufactures drove like this one right here. they take it or they account for about fifty to seventy percent of the global market of consumer drove their products are used widely in the production of television film and music videos with the reliance on finance and real estate hong kong's economy may face an upward struggle but with the tech sector in shenzhen the sky's the limit. reporting from a hong kong branch of war for boom bust. had the drones he had the drones all cool was that and that's it for this time thank you for joining us we can catch boom bust on you tube dot com boom bust r.t. so long for down to next time.
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my seven years doing drugs my nephews was still in drugs my system just with doing drugs it was like an epidemic of drug abuse america's public enemy number one in the united states is drug abuse he started going after the users in the prison population sewer we started treating sick people people who are addicted to these drugs like criminals while i was on the hill i increasingly became convinced that the war on drugs was a mistake there are countless numbers of people who are in prison for.
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a long sentence in this for minor minor offenders in the drug trade it's a lot watching your children grow up and miss you in waves and say by daddy as you're walking out of the business it's just it doesn't get easier. you know world of big part of the lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bath and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for washing clothes for watching the hawks. after the previous stage of my career was over everyone wondered what i was going to do next the multiple
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different clubs on one hand it is logical to sit in the home field where everything is familiar on the other i wanted a new challenge and a fresh perspective i'm used to surprising people. or not if you think. i'm going to talk about football not for you or else you can think i was going to go. by the way ways of the slide here. show it's seemed wrong when all the rules just don't call. me if you get to shape out just to become educated and engagement equals betrayal. when so many find themselves worlds apart we choose to look for common ground.
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whether or not the long awaited smile of probe into trucks russia collusion will deliver a smoking gun the us democrats look set to launch their own investigation intent it seems still achieving one thing. for you a piece somebody you have to persuade the american public to admit it or to have an impeachment is a long way down the road we don't we don't have the facts yet. something washington continue to ratchet of talk of regime change in caracas the self-proclaimed interim president returned.


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