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tv   Boom Bust  RT  June 8, 2019 3:30am-4:00am EDT

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take a turn as the west edges closer to a decision on the fate of the company's c.e.o. my hell 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 credit kaufman author of the bet on them that the farm is on hand to give his outlook. for the world daunting problem. finally another day another this time has seen 10000000000 dollars in ripple bolen took turns the analysts one is standing by to help us see into the whole point of property shows today so let's go and to. 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 from the u.s. this also reflected by the russian president vladimir putin's comments on huawei
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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 called the 1st technological war. the u.s. is blacklist for several companies including google and qualcomm from doing business with huawei furthermore the u.s. is pressuring other countries to pick a side to side whether or not they will allow fallujah to help build out their 5 g. network 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 antagonism against qual way but it's not just the u.s. one on the left front what has some of the war was canada and joining now on the ground in canada that is our correspondent taj the head of
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a. young canada 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 a mega one joshi we know that she was arrested here but 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 to september and 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 a collapse well into 2020 so mang if she's here you know there's a lot of people saying there's really no evidence against her and wall wait 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 wall way vice president of international media affairs the u.s. allegations against miss wayne are based on violations of unilateral sanctions
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imposed by united states on financial services in iran canada does not impose any such thing therefore transactions conducted with the bank do not pose any risk of breaking canadian law as a result the alleged conduct of miss maggie is not criminal in canada and she should be released in mediately 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 us 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 trading 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 strange diplomatic relations we'll see if that goes down but reza as of right now we're looking at this assault on on wall way and on top of that this main trial in canada is not going away anytime soon and
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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 not something that i just mentioned the u.s. is basing this not on on the evidence that it's sharing with the world it's just saying you know while way bad and this is all part of this trade war we know that the main the incarceration of this of this individual in canada the house arrest which is on the 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 wall way 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. 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 largest meat producer the chair because although group is attempting to pick up the slack charges over c.e.o. sergei mckay last thursday the company began shipping poultry products to china in may and is looking forward to some plummeting their peat port and soybean market as well mckayla said his company expects to ship around 1500 tons of poultry products
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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 busy 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 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 shenyang province in august of last year and has since riddled the
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entire country we are not talking about 1000000 pigs that have been killed and 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. suffering at your food safety experts so let's be clear this is not a food safety threat in the sense that this disease and it's not a fact humans know they cannot parallel 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 going to catch a disease by eating a pig that's been infected the zs how ever if we do eat that disease let's say this
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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 fran our correspondent alex mahela this yesterday hit on the issue of factory farming and this outbreak talk about the structural factors here in the food system that creates the conditions for outbreaks like this one. what is so interesting here and
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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. pigs 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 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 pigs about to be killed each pig is about 200 pounds of meat you will do the math we're taught we're talking about 40000000000 pounds of meat has to be thrown away so what really needs to be done is start over make new regulations we have to keep these places by a secure clean it 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 meet less 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 the another irony here is that you would think that united states pork producers would actually
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benefit from increased demand in china but because of the outrageous situation that the present ministration has gotten us in 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 effect 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 kind of an author 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 start off 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 business deals and china agreed to build our russia's 5 g.
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technology and then over and asia the shanghai index fell 2.6 percent this week as the entire market got spooked on heightened scrutiny from regulators this came after the conway pharmaceuticals and materials group 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 as 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. midweek but managed to recoup and being flat still slightly down less than one percent while michelin 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 a delay in tariffs on mexican imports remember that japanese autos would be
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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 rallying to an all time high post-election it is now dipping as consumer confidence declined in may due to terror and sentiments on price levels and unemployment the current unemployment level is at a 445 year high at 6 point one percent and then over in australia the a.s.x. is up as it pushes new 52 week highs the markets have been driven by a strong local house. the market rebound coupled with the upcoming tax cuts and is expected to lift consumer spending. in the near term and then finally over in south africa now all shares and also ended up for the week despite the rand plunging down to 8 month lows the market reacted to your presence around the poles are taking steps towards putting south africa on a growth path and fighting corruption and now over to daniel for europe and america
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thanks kristie big trend in europe and western europe and the americas this week starting in france the cac 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 software vendor showing big gains in the stock price this week on that exchange moving across the channel to the u.k. the flexi puts another green arrow on the board for this week one reportedly betting on a fiscal loosening from the european central bank as an interest rate increase by the e.c.b. is put off to next year on worries about a weakening global economy now over to the americas starting in colombia the coal company 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 will have some big news on brazil and russia sure later in the show stay tuned for that and back to the u.s. all the major u.s.
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stock markets for the week after down all the down last week and why is he and the tech heavy nasdaq and finally as we end in toronto. with 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 here because when we return another day and now they're this time gate have had nearly $10000000.00 and rep all. jack kept i had a less than one a standing by to help us dig into the point atrocity and as we go to break here the numbers at the.
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seen this before in the eighty's with the rise of japan and the us had a response rejiggered the global currency markets at the plaza accord this was reagan and the same people like a master plan for tension 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 and that's a moment appear on the horizon. i agree has long positioned itself as a sovereign player within the e.u. it can stand up to brussels. when it comes to its own national interests but when it comes to dealing with the trumpet ministration is the government just as ready to put hungary 1st.
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the project was good if you. did you miss if you don't bomb people would. move to keep. you from her school results or if you were to do that. to. you you presume this loop i'm going. to leave them for you to. which of those are most of the. going to be involved in their history that if you. are still. there good will treat you right here in the new world of the more you more you work. in the world. of the.
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civil unions the. stars the. way of. brazilian president jr bronson arrow says the marcos 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 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 you
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who is the 2nd largest trading block behind only nafta mr bonzo narrow put a political spin on the announcement lauding his right wing ally president. 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. i called the real peso the spokesperson projected the development of the real peso would incur in the medium to long. term. in the latest u.s. job numbers suggest the president trump's 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
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percent looking forward some see the increase prospect of an interest rate cut by 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 place new restrictions on asylum claims. cryptocurrency is entering the mainstream as tech giant 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 a corporate giant corporate giant that are currently being investigated for
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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 swan men 1st of all we've got status 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 portfolio of products instagram whatsapp marketplace and others what's your take on this project now and why should you if there is trust facebook to be the centralized banker when there are so many other stable. an option such as make us die 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
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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 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-intuitive 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
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a really important point facebook needs to be investigated in terms of antitrust 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 with 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 what facebook is protecting from scammers and all that well ok if you want to ban the i see it was because you claim that they're all scams why did you stop people from even learning about crypto currencies they've been 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
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have been passed that essentially say you cannot block advertisements that are competitive to you facebook was doing exactly that at least at least i think the argument could be made for that they were protecting themselves against mastodon of these other kryptos while they themselves were designing them planning to release their own crypto. now moving on to apple they kind of did the same thing they said that they are now going to be released same down i.o.'s 13 software which will feature a cryptographic developer's tool and this is also interesting because apple previously listed and a whole host of other kind of that's how much abstract so what do you make of this shift in attitude and why can you tell us about this. yes again very similar type of situation where coinbase was delisted from the app store as well as others makes is 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
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it's a way of securing better your computer better securing your phone better finding 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 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 s 10 came out they already had 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. cryptocurrency alice thank you so much guys thanks. and finally while cryptocurrency is the most well known application of blog chain there are there are also uses like improving the supply chain to that point in his
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or bush in bed the parent company of budweiser stella artois and a number of other familiar brands has upped its investment in a watch chain start up 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 some of 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 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 fastening balance
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of all number right now the numbers are actually closer to 2000000000 people are without bank accounts and that accounts for almost 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 far matter of building credit and reputation because right now they can't get that 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 r t see you next time. nobody could see coming that false confessions would be that prevalent in this
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population before the conviction. had any interrogations out there what you'll see is threat promise threat promise threat why a lie a lie the process of interrogation is designed to put people in just that frame of mind make the most comfortable make them want to get out and don't take no for an answer don't accept their denials she said or forward. on a statement that i will be home by the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with it all the guy. who was before. much of those who heard something. knew him we will.
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we will. move. move. move show you the stupid you liberal media who looks good. move. his goals to do films good. look why do you assume you believe. the story to go. to stand up to you to meet until it was a little missed don't see it look it is it's. him stashed noticed him just moved and mashed on. the street the president and. it's introduced much. as we are for 2 shoes to drop in this room to snoop on what the new of those the
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girls are with 0 in this approach to your machine as the nation shouldn't feel you should go door for one was do your business. coming up inside to the wiki leaks co-founder judas sanj is life in a high security prison in london we've got exclusive images from our video you can see roughly to show. us the month tree fern says mistakes were made to decide to improve argentina's economy of litigation failed to tackle kid problems in the country r.t. goes deep into the decades of errors made by the i.m.f. .

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