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tv   Boom Bust  RT  September 22, 2020 11:30pm-12:01am EDT

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join me every thursday on me all excited i'm sure and i'll be speaking to you after the world with. all those those i'm sure both of those i'll show you that.
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this is a boom bust the one business show you can't afford to miss their month of washington coming up the tick tock saga continues as by chance and oracle it will they continue to battle over ownership of the new global leaving the deal up in the air and on another front us while we tensions also continue but is the u.s. loosening some restrictions against chinese telecom giant while way we'll explain that you have a lot to get to so let's get started. take talk saga continues as the deal is still facing uncertainty over the structures of the company's ownership and a statement on monday oracle said upon creation of tiktaalik global oracle wal-mart
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will make their investment and the tick-tock global shares will be distributed to their owners while americans will be the majority and by dance will have no ownership in tip top global meanwhile by dan's put out a statement of their own they're claiming to dismiss these groundless rumors and said the company would retain 80 percent of the newly formed tick-tock despite trump saying it would have nothing to do with china won't buy dance also denied president trump's claim that a $5000000000.00 fee would help set up an education fund many remain skeptical the deal does not sufficiently address national security concerns will uncertainty remains as the 2 companies continue to battle over ownership whether china's government will even approve the deal or prevent it. just one week after new rules kicked in all not. bar to ban u.s. companies from working with china's telecom giant while way well things have changed quite a bit the move against wall way is part of
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a broader international campaign that includes many countries banning wall way from participating in their 5 g. networks this includes australia although the whole movement seems very cut and dry as artie's mahela which tells us there's more going on behind the scenes. it looked like a done deal. on the china firmly opposes the u.s. is deliberate discredit and crackdown on weiwei and other chinese enterprises on september 15th the u.s. banned companies from supplying for servicing while waiting arguing that the tech giant was being used by the chinese government to spy on other countries a big ticket item in the band is chips what weighs prohibited from buying components from american and north american companies that were developed using equipment or software made in the usa however the u.s. already seems to be boosting its hold according to a report from china intel has been granted a license by the united states to continue doing business while way which will help
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while weasel laptop division other companies have also suffered mission to work with the world's biggest smartphone maker this includes china's semiconductor manufacturing international corporation that uses u.s. origin equipment to make chips as well as south korean chip maker escape hynix meanwhile the campaign against weiwei it's also sees a holes in other parts of the world namely australia relations between china and the land down under have been tense since australia banned while wait from supplying equipment for a 5 g. mobile network back in 2008 in response what has cut jobs and investment in australia is what was cheap corporate affairs officer in australia jeremy mitchell the reality is you know we've gone from a 1000 stuff next year will be a 100 stop you know the impact on the 5 j. band and the great stride the china relationship has had a huge flow on effect while we also cancel that $72300000.00 us dollar investment
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for research and development in australia in addition one way and it's pulled a sports bonser ship deal with an australian rugby team all in all not everyone is happy with the australian government's maneuvering really really sad died as jeremy said. will be still be appearing as a sponsor next year will be i am the very very lucky if we find another one as good as y.y. with resistance in some parts of the world while way it's been exploring other avenues to continue its growth the company plans to open its flagship stores in 40 smaller outlets across europe by the end of the year while way has also committed to deferring funds from the u.s. and investing more in russia in the words of while we see old friends in face after the us included us on the entity list we transferred or best made in the us to russia increased russian basement expanded the russian scientists t.v. and the increase the salary of russian scientists at a grander scale but somebody is set to take on american multinational google by
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developing a new operating system to replace google's android will by 000 s. currently what we have 600000000 users in its ecosystem. us on what's more of a bitch. and i want to take a deeper look into this we're bringing co-host christine an editorial director for the american institute for economic research jeffrey tucker jeffery washington has been pushing governments around the world their allies to squeeze out wall way and barred u.s. companies from supplying or even servicing them now this the intel has received permission to supply wall way one of the united states allow this license to be granted why not a smoker or even as next like alex said. what's happening is that the chap administration is gradually realizing we're living in a club with economic environment not easily disentangled by the nation state and this is an accurate basically acquiescence to that to that reality and
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it's a sign a certain amount of flexibility on the part of the chump administration they will not be able to drive this this iron wall between between china and the us it's not plausible in a in a digital age and i'm i have to tell you i'm very impressed by the wall ways response here there's it's clearly a company run by some very smart adults who are more interested in prosperity and technology than they are and just national pride i think walk away gets a better into the deal here trump administration is going to lose this war with be could be part of we know that back then when it while i was issued to the entity list the united states was still granting some of these licenses to american companies to continue to do business with wally is that connected to this. really yeah i mean it certainly is i mean this thing is that what you really do have here is trump who's trying to apply the old 19th century rules of protectionism in a in
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a digital age where everybody is connected no matter what the regulators are saying so this is some backroom dealing to keep the function and to keep to keep american companies supplying while away in a way that trump liberal believes will benefit american jobs that of course you're right it's it's intellectually inconsistent and lot of it's about who's paying whom to get their get their way in the global economy today well kristie the talk war continues obviously is beginning to take a toll on local economies such as us australia as alex mentioned in his piece united states ally who again joined the boycott against wa wait while we were beyond the $100000000.00 local cost of this tech cold war how australia's economy handle this. county's not going to handle this well at all as and i'm the analyst already estimated that this 5 g. ban on holland has already cost australia over
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a $1000.00 high tech and highway jobs from the economy and from a revenue standpoint it's gone from annual revenues of easily $1000000000.00 with 5 g. to a situation where in the next few years revenue will be below $200000000.00 so as a also suffered damages from being a casualty of this tech war it has reduced previous of planned investment endeavors in part due to 5 g. been set in place and also in part due to the rising tensions between china and australia so this is very harmful to economies like australia who was relying on these have the investments so holly abandon its plans for large scale r. and d. development in australia it closed another $60000000.00 operational and business support center it closed another $30000000.00 national training innovation center terminated in multimillion dollar funding on the internet of things lab which basically cost the entire economy thousands of local jobs so there was also previous plans were another 100000000 dollar investment in western australia for a global or indeed center for 5 g.
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mining applications given that australia is the world leader in reeds in the resources sector but the 5 g. band obviously killed that so local officials are worried now that australia will suffer greatly with the loss of current r. and d. spending but more importantly the loss of future r. and d. as it will not be able to keep up with the quick pace and turnover of technological innovations and we know that's really important in wa way there are in desponding it's as a company that spends the most amount of money in doing so geoffrey huawei is now now intends to enter this p.c. and monitor market so they're kind of diversifying right why the sudden shift here are they abandoning their plans you think to be the global leader in 5 g. is this a sign of defeat or are they simply just looking at other other departments to go into essentially this is called the law. long game they've got their eyes on apple and microsoft on google they're not going to take this line down operating
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systems you can build them you can create your own ecosystems you can create hardware we know how to do it. huawei is specialized in this and both both replication and innovation so this is an extra really ambitious view they're looking at 510 years from now we're kind of laptops are people going to be using what what is going to be the i.o.'s what's going to be the operating system on people's phones while away wants to be the global leader and they're betting that they can do it and i i don't think it's crazy i think it's actually possible this is not you know 20 years ago this we know how to do this internet now we've seen a lot of cooperation now between while away and russia and some of the best tech developers in the world very very resentful about what the u.s. has done to our way and have every incentive financial and intellectual and
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national to come up with technologies that can that can beat the u.s. at its own game so really in a way us is really poke the bear and it's i think there's going to be hell to pay sometime over the next $5.00 or 10 years for u.s. industry oh yes i seem to always actually very much at diversifying here obviously is about who can make the best products but also the most economic products so that's what companies are really looking for to save them some money earth on my least financially less than those that less are less financial level of a burden on these companies kristie the u.s. continues to isolate and block while way though and it's increasingly turning now to russia transferring investment what does that look like. so the hallway c.e.o. renton say confirmed that after the without a huawei to the end he's left it transferred over massive amounts of investments in the u.s. now over to russia so as jeffrey just said always still intends to be the new global influence and is now recruiting developers and then you factors to help a build
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a 3rd alternative to google's android and apple's i os so while i says that there is room in the global market for another operating system and that it plans to take this opportunity now the u.s. is looking at this development and seeing the huge risk that it presents to america's control of the world's mobile ecosystem but then again it is kind of the us it's all in the 1st place for backing all way into the corners so this is the only logical or turn out of that jeffrey said the bear otherwise it would have continued on happily using android in the 1st place so after waging the war against holloway for over a year now america's actions against holloway has left the door wide open for russia and similar to what i said before about australia it's not only about the current investments it's always about the future investments when you talk about tech and r. and d. because of the fast pace the development cycle the days the u.s. lost out in r. and d. a 5 g. technology and falling tragically behind and instead russia's own tech sector and industrial base has gained and gotten a huge boost so china is kind of bracing to decouple its supply chain and
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industrial capabilities from the u.s. and now engaging with russia who will benefit hugely from now from these partnerships and we think about at what point does the united states actually say you know this is enough that we're seeing this a little bit by them loosening these these restrictions somewhat on actually supplying things or these these properties to to while away so i guess time will tell but this the saga continues it seems like it never ends who must go host christiane an editorial director for the american institute for economic research jeffrey tucker thank you both so much for your time today. thank you. for a quick break but hang here because we'll return u.k. prime minister boris johnson will you know new instructions in his attempt to curb a 2nd wave. but how will this affect the already shattered economy that others got to brace for the numbers of the.
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elderly with forward to talking to you all that technology should work for people. must obey the orders given by human beings except where such orders would conflict with the 1st law. we should be very careful about official intelligence to the point obesity is a great. place to take various shots and with artificial intelligence will summon the demon. a robot must protect its own existence was only. if.
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we are segregated. by social class lower middle class people also in poverty by 1st place if you're born into a poor family. born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger than you born into generational poverty. it's a fight every day so you meet your needs and the needs of your family. a new round of lockdowns has been announced by u.k. prime minister boris johnson well after a warning by 2 scientists that the u.k. could see 50000 new cases of corona virus by mid october when the u.k.
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has imposed new restrictions to limit the spread of the virus the list of those new restrictions and clude office workers who can work from home should do so pubs bars and restaurants in england will be ordered to close by 10 pm each night ptolemy sector will be restricted to table service only face coverings must be worn in taxis and private hire vehicles and by retail stuff while at work while customers in hospitality will also have to wear face coverings except while seated at a table to eat or drink or the plan to return of spectators to sports venues will now not go ahead from october 1st and wedding ceremonies and receptions will be kept at 15 people from monday the u.k.'s prime minister says that while the lockdown will not be as severe as it was back in march these steps are definitely necessary i want to stress that this is by no means a return to the food looked down. march we will ensure that businesses can stay put in a code compliant way however we must take action to suppress the disease. first
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we are once again also office workers who can work from home to do so in key public services a new profession as well homeworking is no possible such as construction retail people should continue to attend their workplaces and like government this house would be free to take forward its business in a secure way. joining us now to discuss is board member with the british american business association hilary ford which hillary they. for joining us today just there there has there has to be some a lot of anxiety rather from business owners here just as they thought that these lockdowns were actually over they've been hit with a 2nd round what are you hearing yes i'm hearing what you wouldn't be surprised to hear both across the atlantic actually on so in the u.s. is purported that 85 percent of family owned restaurants are going to disappear and
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in the u.k. it's purported that about 50 percent of all travel related companies restaurants and sort of retail small retail owned stablish months are going to go out of business so i mean obviously this is only the sort of a blow at the moment definitely however i room temp about with some optimism and that is in terms of the japan deal but it's been just completed by the british government in light of course of brecht's that and also there are talks underway by the secretary of trade strasse with oil straight australia so couple of good things to look at if you refer to the think tank director robert odes he's a think tank director for the british group he's actually pointed to the fact that there are many companies that are currently based in the e.u. that are actually thinking about relocating to the u.k. and this is a reason for optimism i'm hearing this from a lot of british leaders on the union leader just recently was discussing leaving the netherlands and moving to the u.k. a number of car companies are discussing moving their production facilities from
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spain to the u.k. so from business leaders to answer your question now in a nutshell i'm hearing a degree of tempered optimism i mean of course g.d.p. fell by 20.4 percent in august and it is reported by p.w. see that for every year that the lockdown continues $15300000000.00 is lost towards g.d.p. so of course it's negative of course this isn't positive for business but actually sara only 17 percent of the british public oppose this so the. for the lock down in terms of what's right to do and yet of course concern for those businesses that won't survive well the fact that they're not doing a complete lockdown as we heard boris johnson say ben i want to bring in bill spence one investigative journalist i want to talk about the science here patrick the british government's chief scientific advisor and chris wendy chief medical advisor officer for england he said the number of chronic various cases is doubling
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roughly every 7 days was there really any other choice but to reinstitute this sort of lockdown i think there's a lot of choice here 1st of all there's a lot of criticism over these numbers in fact there's a group of scientists who have come out against it saying that it's implausible that they would actually the u.k. would get to the point of having $50000.00 new cases per day they say yes we're seeing this 7 day increase but they do not expect that to continue to go for a prolonged period of time and also in order to get to that $50000.00 new cases a day the u.k. would have to have such a significant jump it would have to vastly outpace both spain and france that have much higher numbers of cases cases in the u.k. and so in fact there was one scientist in particular who came out against this and said that this should actually be examined by the way professor david patten he's with the university of nottingham and he said these figures may suggest an investigation from the office of statistics regulation which regulate regulates the accuracy of data given to the public saying these numbers are completely off by the
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way i want to throw out one of their names neil ferguson remember neil ferguson was the scientist who initially started a lot of these models for lock downs and shutdowns saying there would be 200000 deaths in the u.k. in 2000000 in the us well he's been proven to be completely wrong in almost every model that he's put forward not because a lot of success but his models are just completely off and he's back at the forefront of this also saying this is a perfect storm ready for more you know absolute destruction if this doesn't happen so at some point i think you have to have a commonsense approach that says we have to stop believing people who. put out these these iranians models get it wrong and then they come up with another one government officials heed their warning as if they've been right there at a terrible truck still listening to them hillary let's talk about the business use here they're demanding of bragg's a deal you mention a little bit about the new japan japan deal the huge deal that the u.k. made and the replacement now there is a replacement of the furlough scheme to safeguard u.k. manufacturing firms and jobs and that's in response to the 1st lockdown are you
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thinking and do you do you see this 2nd lockdown only making the situation worse well i do and if i may say we're just actually given that ben race it's an excellent point with regard to niall ferguson he was actually caught having an extramarital affair visiting this woman without any kind of protection whatsoever and his facts actually were totally and utterly off base so i do think a lot of this is blown out of proportion and also a lot of doctors have been pressured to actually report covert deaths were really the deaths were due to preexisting conditions i mean deaths are always sad and we're not downplaying desk but lots of deaths are due to this preexisting conditions like cancer and leukemia as well as a lot of obesity and that's the cause of a lot of this so there are lots of factors and the numbers aren't necessarily accurate now to answer your question with regard to the 2nd follow yes that's not something the business leaders and this is so really look forward to there's been a lot of pressure mostly actually to get the breakfast deal don going back to my
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earlier point because then the u.k. is free to make global negotiations i particularly with the impending deal with a trade deal with robert lighthouses in the us so businesses want the focus to be breck's it to be completed and yes they do not want to have their businesses shut down and it's making it harder been one right left there's a lot of concern the the u.s. could soon follow the u.k. in terms of the coronavirus resurgence are we looking at the same the same type of . issues that we face here. i think we could be if we continue to listen to the kind of nutty scientists like what they're listening to in the u.k. . very quickly the bottom line is when you listen to these so-called experts you need to look at where their funding comes from many of these experts are funded by either vaccine companies or people like bill gates who are pumping money into these organizations and they are touting the line that does not match the data involved and i would challenge people look at the numbers for data for the u.k. in terms of new cases and numbers of deaths deaths are way down right like new
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cases rights and a lot of the cases are up and actually a lot of the cases up just because people actually have the testing that that also is i don't know they're about that iris now than we did months ago so definitely a better situation now hillary for which events one thank you both for breaking this down for us. now to new york where a team of mathematics may have finally unlocked the secret of how point of rock formations known as stone for ists have have gotten their shapes and what they may have discovered that may be sweeter than you think turning tavis has more on the story. a stunning razor sharp tips in stone forests have long fascinated scientists but now a team of researchers here in new york are setting out to discover exactly how these magnificent structures are actually formed and they're doing it with a new sugary experiment and a new study researchers from n.y.u. investigated the formation process behind these jagger pillars by simply using candy to test their simulations in the lab the team combined granulated table sugar
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corn syrup and water in molds to make blocks and single pillars of solidified candy using sticks of the sugary treat the team discovered that cylindrical shapes can naturally sharpened into a point in still water as they dissolve and no complicated flow is needed the simulation shows the sharpening effect occurred as the candy dissolved making it heavier than the surrounding water therefore the sugary water sings downward only almost like a skin coming off the candy the co-author said in a statement we 1st discovered the spikes formed by dissolution when we left candy in a water tank and came back later to find a needle like speier this year was into the problem and we were very excited when we realized the connection to stone pinnacles and stone forest which have been quite mysterious in their development we hope our experiments tell a simple origin story behind these landforms the phenomenon could explain why sharp stone pinnacles are often found were easily dissolvable limestone rock dominance
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like the stone forests found in china or malaysia all my take years and sometimes even centuries for an actual stone forest to blossom the researchers were able to prove that same trick by simply using candy reporting in new york trinity chavez r.t. . that's it for now catch me most on the man on the portable t.v. app available on your apple and android devices or simply check it out a portable t.v. and we'll leave you with today's closing numbers we'll see you next time. you know the stock market as a subset of the economy has undergone a transformation become a plaything for speculators fueled by incredibly egregious money printing by a rogue central bank and this is causing all manner of dislocations malinvestment
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and societal changes. time after time corporations repeat the same mantra sustainability it's very important to excel or a transition to sustainable prize board sustainability stay number man or a more equitable and sustainable well. they claim their production is complete the hamas. has no models and got it down to something companies want us to feel good about buying their products while the damage is being done far away and this is something all this must be done to anyone and i mean look. this is the moon used to be doing to me man and einstein seemed to be based on that understood. cash cow and is drawing all forms over a long very dark there is changing to
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a change guard service. his 1st words were that allow us to you're a challenging post you've got 2 years to live. i have no doubt that was happened scriven. let's concentrate maki $1000000000.00 industry these companies how does huge financial motivation to solve these. there are numerous stockings showing that doctors were keen to chest x. ray concentrates for insights of its own that patients won't give them doctors the wrong stoplight. why they would keep me and secure those whose day. and people still. don't know which question which i've already being too late when so many have.
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the british prime minister announces tough new coronavirus restrictions with large fines for rule breakers after a surge in case numbers. russia gets it ready to start nationwide clinical trials of another covert 1000 vaccine. the u.n. begins its 1st ever remote general assembly world leaders deliver video speeches with the pandemic and global conflicts at the forefront. the psychiatrist who has examined join us on says that the wiki leaks founder has severe mental health problems and extradition to the u.s. would put him at risk of high suicide. you have more world news in store for you
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next hour right now though it is the kaiser report stay with us.

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