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tv   Boom Bust  RT  March 27, 2018 1:30am-2:01am EDT

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you know the room six. deludes believe. this is boom bust broadcasting around the world from washington d.c. i'm bart chilton. and coming up there's been some rapid expansion in the hotel industry both in the u.s. and around the globe will talk hotels with the word or did the president and founder of stroll mark plus or some reaction from china to the trump tariffs we'll have an expert panel of alex mahela bitch and caleb moment give us the latest and sort some of it out all that ahead but first let's get to some headlines the march
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of our lives took place in cities around the world over the weekend including right here as protesters filled the streets of washington d.c. with young people and allies demanding an end to the epidemic of gun violence in the united states eight hundred thousand people are estimated to have taken part in the d.c. march most prominent among the student leaders were survivors of the shooting at marjorie marjorie stoneman douglas high school the school in parklane florida six minutes and twenty seconds with an a r fifteen and my friend carmen would never complain to me about piano practice erin fice would never call kiera miss sunshine alex out there would never walk into school with his brother ryan scott beagle would never joke around with cameron at camp helen or m.z. would never hang out after school with max do you know montel joe would never wave to her friend william at lunch watching all of our would never play basket. always
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sam or dylan i know that you would never care a lot of friends would never chris hansen would never nuclear would never marks the u.k. i worry i would never peter wang would never have asked would never jamie gothenburg would never have met okalik would never. pretty powerful stuff marchers demanded a ban on assault weapons and high capacity magazines as well as closing the gun show loophole on background checks meanwhile after dick's sporting goods recently announced an end to sales of assault rifles in its stores they posted a weak sales report some gun rights advocates rejoice however analysts say dick's bad news said more to do with excess inventory and price pressures from competitors then gun policy change will have more on that and keep an eye on the story on this front firearms manufacturer remington officially filed for bankruptcy on sunday with their c.e.o. citing falling sales severus capital management will divest itself from
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a stake in remington while franklin templeton management and j.p. morgan asset management will trade remington debt for company equity also citi group announced a new policy in recent days that will require all new retail sector clients to only sell firearms to buyers pass a background check. u.s. congressional leaders passed a spending bill last week is we reported but they left out one important item with some but big political and policy implications the insurance exchanges created under the affordable care act a ca or otherwise known as obamacare needs steady infusions of federal subsidies to private insurers among other things the subsidies promote profits for private insurers in exchange for covering people with low incomes last year us president donald trump ended the payments in an effort to dismantle the health care law a bipartisan group republicans democrats alike had been pushing to extend the
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subsidies but were unable to get a solution into the spending bill making action before this year's midterms election very unlikely the congressional budget office c b o says insurers already have increased premiums by ten percent to offset the loss of those subsidies the next rate announcement and almost certain increase is likely to hit the news just before the midterm november elections. job openings in the irish hotel industry have spiked the irish times reports that the number of unfilled bartending and concierge positions increased by eighty percent from two thousand and sixteen to twenty seventeen since two thousand and thirteen the number of unfilled chef jobs has increased by roughly one hundred fifty percent but it's not only in ireland that the hotel industry is expanding its occurring in many places around the world and here to discuss expansion in the hotel industry in the states and around the globe is the founder and c.e.o.
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of stroll mark henry ford it's hilary thank you for being with us again you're always such a wealth of information on many topics we've talked about this i think very early in the beginning of the year but other than sort of the economic fundamentals of supply and demand what's going on let's start with the u.s. what's going on here quickly back again and yes you're right there's a tremendous amount. expansion i think that's no surprise to everyone because of course the economy is doing well and the economy is doing well we have more money to spend but it's this demographic bubble this demographic bubble is from the baby boomers from the second world war and as they always say you know you're not going to take it with you so i think there are there are people that are coming into that era now over time and from the first baby boomers are getting into that era and they're looking to travel so the u.s. has a tremendous amount of expansion and globally as you mentioned. you know there is this a point of. issue but if you look at specific areas like luxury hotel yes seems like they're going there growing faster and why is that and are they trying to
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differentiate themselves as luxury brands yes they are they're pulling away what they're doing so is they're following a number of trends that have emerged and they have been very good in terms of looking at whether it's the p w c study or other studies which are showing the what's going to happen so they going for wellness we talked about that before there are some of us who who do want to another's who want don't want to work out i was and here we go we don't want you know i don't you know i don't i think you're right in my way for the. stuff i should so i'm converting not because you but i'm converting ok it was she and i on the same wavelength then but it's the health but also there's a huge new trend that's emerging and that's called solo travel where these travel industries and companies and a lot of that's happening in the u.s. in the divorce rate has been high for many years you have these single what they're calling loan families the new family loan families that so that's a big trend another trend of course is the one for the adventure holiday that never happened adventure vacations that's big and also
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a merging travel to emerging locations places that people didn't go to sort of before the average american you know ethiopia there's a tiger monastery people are going to now things that are things that we weren't doing that we normally haven't heard of previously that's a big deal also a big deal are cruises that are becoming more sustainable smaller cruise ships and some of them of you does more in. and that has a bigger pool appeal among star older people a smaller group a more specific in terms of maybe a specific interest another one is in terms of less adventurous but nevertheless an experience cooking holidays foodie trips food is a big motivator to help people but a food trip with cooking lessons involved that makes a lot of sense you know there are places around here where you travel and people are doing the cooking classes it's a big open window in everything and i can see people going to i don't know rome or venice or someplace or you know paris and doing cooking the holiday and one of the
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biggest interesting places i think we're actually i wouldn't have thought of this i don't know if you have but when you think about the peace in the middle east now actually palestine has a fifty seven percent increase in tourism rule us a great amount of travel to palestine because obviously with the peace and. hilton has opened seven new hotels in egypt so that part of the world there's a lot to see a lot of historic sites to visit antiquity is a big hot button for retirees and the whole baby boom we keep talking about talk about some of the other areas you hit the middle east a little bit you and i were talking earlier about the hilton moving into turkey but what about asia what about other places around the world you actually you know the trend that is also there and that's happening within asia it's called winter travel winter travel is viewed now i think it's seventy three percent of americans said that they would be up for traveling in the winter and not for climatic reasons in other words not just going to florida or somewhere warmer so this bodes well for for example the chinese our winter festival her six received more visitors form
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visitors than ever before last year also in the arctic number of hotels of opened up. locations there and also seeing the the sea there is where you are not you the northern lights northern lights right northern lights and then also northern sweden is a big destination now as well as a lot of finland i think it's the eskimo experience or. as a reindeer adventure trip that people want to go on a regular monastery some of us like most of the reindeer monastery right tell us we're talking about a demonic radio trip right that we got i mixed you up on that so we're going to talk about china and tariffs after the break but what's going on with china i mean people traveling there a lot is it primarily beijing and shanghai or is it all over actually it is and it's the biggest number one destination in china is the great all right well when you go there you go to beijing you have to say you'll be taken by all the jade factories in the right so be careful when people try to go there right because
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there are it's almost like a timeshare if you're not careful. last thing i wanted to ask you you talked about trans eccentric but are hotel chains are they really catering to millennial now you talk about baby boomers but is millennial is another target group for some of these larger it would help anything but that is a member at the beginning you also about luxury travel if they don't have the same margins that they've actually gone to for millennial this eco space these tiny rooms manhattan is a big lead or not but these tiny rooms eco friendly in terms of size and they don't even have a call often elem know the exact you know that but they don't have a cause and some of them. i've been to those are not not great and they're very economical and that's one of my meals on the job there on the button on the call relative to other things there are still hundreds of dollars i mean what in your particular in your particular thank you so much great hillary for its strong mark c.e.o. and founder we preach it you being with us thank you thank you so much yes. and
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it's time now for a brief pause for the promotional cause but stick around because when we return we'll talk trump tariffs and chinese asian and oceana reactions with our expert panel alex mchale if you cable. plus some big upward stock moves today after that pretty poor day friday and here are the numbers at the closing. seems wrong. just don't. let me. get to shape out these days comes out to. and in detroit equals betrayal.
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when something find themselves worlds apart we choose to look for common ground. welcome back a billionaire ally of turkish president aired one is about to buy some of the few remaining media outlets that are not currently aligned with the self described islamic leader heir to one demeanor and holdings conglomerate is set to buy
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a daily newspaper her yet as well as c.n.n. turk from its current owner in a deal worth about one point about one billion dollars did mirror and bought two other new newspapers in recent years which changed their line from secularist and critical to supportive of the heir to one government the committee to protect journalists says turkey has jailed seventy three journalists the most of any country in the world. and tensions are rising on the iberian peninsula after the former president of catalonia charles the puja mont was arrested by german police on sunday demonstrators demanded release in a protest outside of the european commission's offices in barcelona and other locations across spain in catalonia the leader could be sentenced to twenty five years in jail if convicted on spanish charges rebellion and the dition for his role in the cattle in independence referendum. france is
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a year ahead of schedule on bringing its budget deficit in line with the european union according to the french office of national statistics the deficit will be equal to two point six percent of gross to. product for last year down from three point four percent in twenty sixteen the government was aiming to bring the deficit below three percent of g.d.p. sometime this year this is the first time france has complied with the e.u. guidance on deficits since two thousand and seven. and on saturday italy moved one step closer to forming a new government leaders from the reformist five-star party and the neo fascist northern league reached an agreement on electing parliamentary parliamentary chamber leaders a leader from the league's electoral alloy allies that forza italia tahlia will lead the senate while i five star deputy will leave the lower chamber while i form a coalition agreement is not yet struck the northern league and five star leaders
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have apparently developed trust and rapport in recent weeks. the u.s. and south korea have agreed to a revision of their trade agreement south korea agreed to a quota of two point six eight million in steel exports to the united states in exchange for exemption from recently enacted tariffs the new quota is equivalent to seventy percent of south koreans average annual sales to the u.s. over the past three years on the other side of the ledger south korea agreed to double to fifty thousand the number of u.s. cars that are imported to bet country without making meeting local safety requirements. and china was the most active block chain patent filer last year data from the world intellectual property organization so that china has filed more than four hundred six block chain patents last year china filed two hundred twenty five patents compared to i'm sorry that many in total china filed two
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hundred twenty five patents compared to the us which filed a mere ninety seven patents however this does not take into account that not every company patents all discoveries that it doesn't care. see that the patent will lead to any viable products some of the applicants include bank of america and mastercard international while the patents may not lead to too much they are helpful in attracting investor capital as well as preventing ownership disputes in the future. and when it comes to china here to discuss trade tariffs and some other trouble out there are two trade experts alex mahela vetch in toronto and caleb maupin in new york gentlemen thank you so much for joining us caleb let's start with you the big news is china reacting although some thought they might react stronger but china is playing a long game here what do you think's going on caleb. bart if you look at china's recent history this is a country that is essentially pulled itself up by its own bootstraps you know seven
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hundred million people lifted out of poverty at the time the chinese communist party first took power in one nine hundred forty nine there was not a single steel mill in china today china produces over half the steel in the entire world now as you're probably thinking and making reference to you know they do have five year development plans that's kind of a staple of their marxist political heritage but they actually published a document in two thousand and thirteen where they made reference to what they referred to as a two hundred year vision for the country thinking two hundred years into the future and the chinese communist party they're leading the country i mean that china does have you know every day another chinese person becomes a millionaire they've got many billionaires but at the end of the day the party is in control and they're planning out the economy in a centrally in their national interest now you can bet that you know china has a two hundred year vision but you can bet that were included in it you know they're
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not calling for china to isolate itself from the rest of the world the way that they see it in the documents that they have published the world is getting smaller and the hope for peace in the world is human centered sustainable development and technology that's what they see they say the world is getting smaller we're getting close together and we need to have a world where people are taken care of people have what they need people are trading with each other people are getting wealthier people are making money and it's an atmosphere of cooperation they argue that you can't view politics and geo politics and international relations as a zero sum game you know the buzzword in china these days is win win cooperation and they're absolutely outraged about these tariffs that are being imposed and they argue that it's just not realistic in the twenty first century to think that you can build a wall around a country and isolate the world and if you do that that's not going to lead to peace will be one of the. the sentiments among a lot of commentators is that they the chinese had not reacted as strongly as some
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might have have thought with potentially the fifty billion in additional tariffs in addition to steel and aluminum and in the u.s. the concern among a lot of folks is food and agriculture that's our major major export and and alex you covered this a lot on ag products particularly with nafta which has been a big bonus for u.s. food and agriculture what are the potential problems for u.s. food and agra three guard to asia trade in particular alex. well it was what scale of said this when when cooperation view from china seems to be donald trump's point of view as well as trouble could be down the road but is it really down the road we saw the markets bounce as you mentioned earlier today and out on word from people like steve minutia who has basically said you know what these things are going to work out with the talks with china they're going to happen and they just might work out and that's exactly the way china looked at it that's what i was basically saying last week to say i told you so but i don't really hate to say i told you so
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when i'm right in this way because the fact of the matter is donald trump is playing a certain game he understands where china is coming from and china understands where donald trump is coming from it seems that it's one of the few countries in the world when he says jump they don't say how high they know what his plan is and how he's going to break it down but if china had to step back and actually get into a trade war with the united states of america there would be some products that would be top of the list such as soybeans they bought tons of soybeans from the states pork is a massive import to china from the u.s. we're looking at the aerospace industry we're looking at the car industry china knows where to hit if it had to but the chinese are ready speaking a different language because they know what donald trump's language is and that is come in there with a big stick but really the man from the very beginning is wants to get into the goshi nations with china and this is what's going to happen we heard last week you know what everybody was saying on every other network oh you're drunk trump is already united states is going to slam trying to with sixty billion dollars worth
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of tariffs well that it just wasn't true because they had to be fifteen days first of all were the united states are going to figure out what these tariffs are going to be and then another thirty days to sit on it and scratch your head and wonder what are we going to do with this so the plan from the very beginning is to do exactly what's happening now and that's a push china into talks and china is ready to talk in negotiations well you said so many things there alex but. with regard to agnew for regis to leave leave that this comes at a time these potential terrorists win. agriculture in the u.s. has taken some really pretty large hits over the last several years with form and come down as we reported here on the the program but you also mentioned autos and kaleb i want to ask you about that specifically the chinese place with twenty five percent tariff on u.s. autos going in to china while the u.s. only levies a two point five percent tariff although we do have a twenty five percent tariff coming in for chinese pickup trucks but how do you see
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this all working out i mean all of those are a big deal you talk about jobs both in china and here it's really important what he thinks going to happen. well let's back up for a moment now at this point china makes more cars than the e.u. the usa and japan combined it's roughly twenty six percent of the global car market and at this point we're also seeing that the quality gap between american made or imported cars and domestic chinese cars is being eroded and the chinese leadership is essentially at the point where they're saying that look ok that if if you know some high tech billionaire in china he wants to import a cadillac that's made in michigan he can afford to pay more for it this is a luxury thing but mastic lee that they should be utilizing the domestic car manufacturers there's a lot of different car manufacturers in china you've got your state owned enterprises that are making cars you've also got a lot of different start up companies and one thing that china has been doing is they've really been transforming the international car markets by pushing electric
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cars they just puts push these new regulations that one out of every ten cars that's produced in china and one out of every ten cars that's imported into china must be what they call a new energy vehicle the doesn't run on gasoline and this points to a bigger question for china on the global market because there's very very little domestic oil production in china they are dependent on oil and imports of oil and gasoline that's why they are building pipelines with russia like crazy that's. why they're looking to protect the south china sea and secure the trade routes make sure they can keep bringing those oil tankers in there because they depend on foreign oil so the chinese government has done a huge amount of investing and promotion of new energy vehicles alternative energy because they see this ultimately as a weakness there's been this huge growth in manufacturing in china over the last several decades but it all depends on foreign fuel is and that's something that they're trying to work out now interestingly we've seen that these rare metals that
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are used in the manufacturing of the batteries in electric cars the price of these metals are going through the roof as the demand has just skyrocketed due to the new regulations that china has put on car manufacturers basically stipulating that they need to start transitioning toward non oil and non gasoline based fuels out that they need electric cars in china so you know china is a major major player in the international auto market you can be sure that you know the heads of g.m. the heads of chrysler they are watching what the chinese government is doing and what they are essentially telling to the essentially state controlled domestic car manufacturing industry in china you can bet that they're following it very very closely china is a major player in the global wal-mart in the global car markets no question about it alex tell us a little bit about some of the other countries in the region oceana in australia etc how are they reacting and maybe australia may have got
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a new exemption from the still moment of terrorists but how are they reacting separate from china we're going to who hasn't got an exemption i would be japan japan is a big one and they depends on important here because japan from the very day that donald trump came in as president oh well you they've been really trying to suck up badly remember a given them a four thousand dollar golf club you thought that was going to translate into better relations while donald trump and his administration are saying you know what japan we want to better deal just like we want to better not to do just work we want to better deal with china we want a better deal with you as well we do not like this. trade deficit and that's the message that's being sent loud and clear at this point to japan they're not playing favorites of the term but ministration blat guess who led just somebody you just mentioned a little bit earlier south korea they have an exemption they're the first ones actually to sign off before the may first deadline where donald trump in his administration are going to figure out if we who's going to get these steel tariffs aluminum terrace kicked in or not while south korea is off the board now so korea is also a very important partner with tackling north korea asked for australia new zealand
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while australia is just trying to keep its nose out of everything right now their biggest trading partner is china they're in that neighborhood so they don't want to be hit by anything that might happen between the states and china as for new zealand you know there again they're trying to secure the sixty billion dollars worth of goods that they export a year they really want to keep their noses out of this and make a lot of sense for these countries to stay as neutral as possible when something like this comes up they don't want to see a trade war and really when it comes down to the bottom line is nobody really wants to see a trade war these are trade talks these are ways of initiating trade talks i might be a little bit more bullish than what we've seen in the past but it seems to be working and people are listening we are always wiser when we listen to you guys it's so great to have not just our key correspondents but trade experts thank you so much alex mahela vich and caleb moppin thank you for your time thank you. and thanks for watching be sure to catch boom bust on you tube at you tube dot com slash boom bust
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r.t. we'll catch you tomorrow. at the plate for many clubs over the years so i know the game inside guides. the ball isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the superman each kill the narrowness and spending through to the twenty million one player. it's an experience like nothing else not to because i want to share what i think of what i know about the beautiful guy but great so what chance with. the base it's going to take.
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but politicians to do something to. put themselves on the line to get accepted or rejected. so when you want to be president i'm sure. most some want to be. the two going to be pressed to supply them for free in the morning can't be good. i'm interested always in the lives of our. guests.
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my losing. one. of.
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my headline stories of loving your putin is in the russian city of camera to pay his respects to the sixty four people including many children that died in some of the shopping mall dwellings he say scurrilous this criminal negligence are to blame for the. longest running high in the city where people have gathered up the headquarters of the regional government. justice for the victims. also ahead this hour. nation. with the u.k. . for the poisoning of a former.

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