♪ abigail: coming upon bloomberg best. highlights from the global business form. >> we are trying to drive a cyst -- chill -- a stencil change substantial change. abigail: many has of state and government leaders participated in the conference and spoke with bloomberg. >> there is fear around this nexus of trading climate. one-on-one

conversations and panel discussions examining threatening prosperity and exploring solutions. >> it is 100% clear to us that the cost of inaction is higher than the cost of all actions. >> we are going to follow those rules. >> time is running out to address climate change, so i think it is right to hold our feet to the fire. abigail: this is all straight ahead on bloomberg best. ♪ abigail: i'm abigail. welcome to a special edition of bloomberg best. this annual event rings together most influential leaders in business and government to address the most pressing global challenges and explore opportunities for solutions. the theme of this year's conference was retorting --

restoring global stability. the prime minister of india deliver the keynote address and joined michael bloomberg on stage for conversation. believe the earth is our mother, and we do not have the earth.o exploit our we are only have the right to use it for our needs. india has this fundamental understand andan greed.but we do not want this is a fundamental principle. today, there are governments that are working on its, to be able to find a solution, it is only the behavior of citizens that can

make an impact, and therefore, human behavior needs to be in harmony with nature. keepingto go forward the environment in mind. india initially set a target of 100 75 gigawatts for the production of energy. today, that would be our weatherhead of timeline - -deadline to achieve this target. yesterday, when i was speaking at the united nations, i set a new target for myself, 450 gigawatts with respect to climate. there is another related topic to which we have not focused our attention on and that subject is water. in india, we have taken a call on admission, basically focusing on rainwater harvesting, staffing, a big

campaign across the country, and we also want to make sure we reinvigorate and we are trying to focus on this as well. we have also banned the use of arele use plastic and we starting a very big movement to stop the use of single use plastics, so with respect to climate and the environment, we want to adopt a holistic approach and move forward together. plastic,lked about renewables, do you have any expectations of reducing the amount of cold burns in india? coal burnt in india? >> the third largest coal reserves in india. a poor country like india, we cannot ignore it, but there is a solution to it.

number one, we will have to change the way we do carry out underground mining, so that they don't do any damage to the environment. the other solution is gasification. by using that weekend call out other countries to bring out their technologies so we can use coal gasification. we want to use gasifying coal. them.not deny at the same time, we want to see how we can use these assets in an environment friendly way. that is what we are focusing on. these thoughts from the head of state were followed by two insights from power players in the area. discussion with j.p. morgan chase's leader and bob

iger. >> what advice would you give or take from politicians? >> i seek advice from politicians when it comes to regulation in various countries around the world, in advice about government relations and the knowledge they may have about government officials, but most politicians who have never been in business, so seeking business advice from politicians is something i don't normally do. they help us enter markets, but it is pretty limited to that. >> policy is complicated. collaboration is necessary. is pavedto hell with good intentions. peopleicies drag the down. really good politicians should figure out the policy, figure out what can be achieved, and get it done, as opposed with going with the wind and seeing if things will work.

countries around the world are doing great for people and some are doing terrible. the terrible is always in the name of good. always. do the right policy and move on. if you don't get reelected, so be it. asked iften do you get you are going to run for public office? >> pretty often. >> in your answer has always been not now? >> i answer has always -- has not always been know, but my answer is no. i discussed it with my wife and she said you can run for any office you like just not with this wife. find someone else. [laughter] that was somewhat discouraging. >> how many times have you been asked? >> i see people ask all the time, hundreds of people, so i don't think someone should be flattered. i think we can make our

production contribution around the world. >> is that because you think you can make a bigger difference as chief executive? >> it's the best i can do. do my job well and that does lift up people around the world and fast economies, cities, states, and i love it. left byere a vacuum politics and politicians that chief executives must fill? >> i hope not. i don't think there is anything about a chief executive into politics. the world needs great leaders. i think our political system, at least in the united states, is not designed to develop great leaders or to encourage more people to seek public office. there's probably an overlap of skills between a ceo and a good politician. you are basically getting to an area that is far more

complicated than you have dealt with before. a lot of people, you learn the and i political skill, ablen't expect a ceo to be to do that. >> do you have to be popular, liked? >> i don't think you have to be like. you have to be respected. it's not a popularity contest. if you try to run a popularity contest, then you don't make the tough decisions. abigail: still ahead, as we look back, perspectives from heads of state and government, discussing crucial issues.

>> a positive idea to withdraw from the nuclear agreement. >> plus, a lineup of global investors addresses the question of how can finance combat climate change. raising capital that has to be segregated. abigail: at up next, banking figures weigh in on the economy. kind europe, there is some of warning sign, wake-up call. abigail: this is bloomberg. ♪

best.l: this is bloomberg we're looking back at the 2019 global business forum.

the conference brought together chief executives from some of the world's biggest banks, asset managers, and prominent investment groups. we spoke with jace -- jason kelly and caro muscle spoke with our next guest about global instability. trillion ofhave $13 negative interest rates, i don't even know where -- what a negative interest rate is. my take my take money and give it to somebody, and for holding it, i have to pay them like it is a storage unit? i'm supposed to get interest when i give people money. as interest rates go down, most of those places that have those negative interest rates, it is not stimulative. because banks have trouble earning money in that kind of environment. if they don't do well, they

don't grow their capitals. they can't extend credit, and countries don't grow unless there is credit extension. this whole movement, particularly negative interest rates, is some type of wake-up call. how did we get in that position? why are we in that position? not us as americans, but us as financial people looking at the world. brian may know more than i do. it just seems that's not possible. >> does the negative ray environment that we see around the globe tell you there is some underlying weakness we are missing? we know the obvious problems out there, but is there something substantial? >> i think steve's point is right, there is in the monetary

policy decision to take rates to accommodate the economy and growth. they are lower than they have been historically, but positive. other places are negative. there is a significant amount of it. i think there is a debate whether it transmits to the economy. if you look at some of the countries where the rate structure has been negative for five years, the banks have to pay interest because they are not going to give us $100 back and think it is a great thing. in the u.s., you already have a flexible economy. a lot of people, deep capital markets. the banking system restructured. a set of rules you can understand. one law that covers the economy, the largest in the world, as opposed to multiple laws. you see the u.s. growing. unemployment is low and consumers are spending. from a macro sense, all of the interesting things to ponder and worry about is offset by 70% of the u.s. economy speeding at this activity all year. when was the tension going to be really wrestled to the ground? that's the question.

>> i put that see you, because -- >> i put that to you because you are operating in a hundred countries, i believe. are we at a breaking point where we may see something snap, or can we continue on, especially from a consumer perspective, in a nice, gentle trajectory? >> i'm not worried about growth. we have enough focuses of growth to come up. you heard the prime minister of india this morning, and i don't think what he was talking about was hype. if india gets moving again, and i think he has taken steps recently, like the tax cut, we are going to get more growth for sure.

-- we are going to get another engine of growth for sure. all of the focus has been on america rightfully. i think you will see an uptick in a lot of other parts of the world. ♪ >> it might be that we need more fiscal stimulus, perhaps we did earlier. it would be neutral in this -- unusual at this stage in the game, for sure. perhaps in europe, more fiscal stimulus. you don't want to get to the place that is called monetizing that. there should be two separate decisions. is this the time for fiscal stimulus? in the u.s., probably not right now. maybe in the future. and a separate independent monetary policy that takes the fiscal situation into consideration. we see, in the u.s. and europe, a lack of inflation. is there a danger in that that lulled into complacency and we might have something if it gets back? arehe citizenry at large doing this for the same thing. we are looking at the strength,

wages will probably drop some, that may be a good thing. what we are confronting is that interface of central-bank targets versus the reality and the fact that none of the central banks really know how to engineer greater inflation in this world of global labor markets, global capital markets, and it's becoming very difficult to get back to some of those targets of 2%, more or less. >> an impact fund is a vehicle that can invest in debt or equity instruments, but is particularly targeted at fitting some of the svgs of the u.n., but measuring the impact the investment has, typically the carbonization or reducing it to your like. this is where the measurement, statistics, and data become important. the engagement by the asset owners and asset managers with those organizations, be it public or private sector, will

be critical. i don't think standardization will be the answer. >> who are you accountable to, in terms of this set up? >> we are accountable to our own moral standards and following the lead of the u.n., but also, the asset owners, which trust us with their money. they often have different and diverse aims. >> do you see a shift, in terms of direction of investment? >> we talked about it earlier. in the back. i think it is about 100% of our clients feeling this is a very important topic. >> we want sustainability to be at the core of what we do. we have decided to look at it in three different ways. one is to bring the framework into investment process to make sure the countries to invest in our on a journey with the framework. the second is to see to what extent many investors will fill

it, 17 of them, a number of them. the third is to look at decarbonization, sustainable investments, water efficiency, addressing issues of water scarcity, and looking at sustainable solutions. that includes environment solutions that companies may have, or even things like sustainable financing to allow more of these infrastructure projects that are needed and comes to fruit in a way that does not harm the environment. >> that's all good from that point of view, but how receptive are the companies to these ideas? >> increasingly, we are finding a more receptive audience. everyone knows this journey has been going on for some time. their own customers are looking for them to embrace the journeys that all employees are looking

for. this is good. if you look at the business roundtable by saying it is a stakeholder responsibility rather than shareholder, most of these companies we are investing in our thinking about this themselves. ♪

abigail: you're watching a special edition of "bloomberg best," with coverage of the 2019 bloomberg global business forum. i am abigail doolittle. soaring global debility was the

theme of the conference. they paid considerable attention to environmental instability. mark carney moderated a session on harnessing the power of capital to fight climate change. it featured top executives from the world largest pension fund, the largest insurance company, and one of the world's leading investment banks. >> the conversation has amped up materially over the course of the last year or two. there is no place i go with either ceos, investors, market participants. this is not a significant conversation. volume is different, particularly in europe. you can feel the ground swell of popular sentiment that the urgency of this is elevated. in the u.s., it depends where you are, in terms of level of engagement. it is up everywhere. there is a lot of focus on it. from a capital markets perspective and availability of capital, it is relatively niche in terms of how it is operating. -- of where it operates. there is growth of green bonds over the course of time. significant, last year, about

$250 billion of issuance of green or sustainability linked bonds. that is very, very small, it is 1%, capital markets activity, it is very small. how do you find things that more mainstream is into the capital markets? green bonds are terrific, but one of the issues is green bonds segregate capital. you are raising capital that has to be segregated in a certain way. >> the u.k. is going to be in >> the u.k. is going to be in charge of cop 26, the climate policy process, next year, along with italy, and the following year, u.k.'s g7 chair and italy -- italy's g20 chair. >> one of the focuses would be what needs to be done to advance mainstreaming and aligning private capital flows to a two degree world? >> we need to have clear policy framework.

at the same time, the investors should take advantage of the lack of clear policy at the moment to make a better return for the investors. pushing a policymaker increasing ymaker tog the polic increase product ability of our investment. professional investors should take advantage at the moment. we really don't see that very often. >> we need more public-private partnership in this space, so the pension funds and insurance companies can work with the development banks and the banks should be able to sell mature portfolios, rather than ask for more capital in order to make room for the private investors in that space. that is one area. the second area, which is important in my view, is there needs to be more pressure on the sovereigns. i believe the imf needs to incorporate climate analysis in

its analysis of the residence of countries. that would probably make the way for a better alignment for better capital and public capital. >> there are opportunities to be creative. fundamentally, i will go back to the walk term policy framework and create the commercial incentive pressure on government. when you get to the emerging markets, the multilateral development banks are important. you don't have the capital formation to support what we are talking about, so you need help. those are the things i would emphasize. abigail: much more coming up from the bloomberg global business form. technology can solve a host of problems and create risks. top executives discussed the implications of regulation. >> regulation and innovation are upfront. abigail: plus, insight from the public sector has the state speak on topics of global

importance. >> trade wars are not good for anyone. they are not good for the u.s., china, not good to the emerging market. abigail: this is bloomberg. ♪ here, it all starts with a simple...

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♪ abigail: this is a bloomberg best. i'm abigail. highlights from the global business forum. many of the state and government leaders participated in the conference and spoke with bloomberg. about the challenges let's begin with editor-in-chief john micklethwait's conversation with pedro sanchez. ♪ >> we are following very closely what is happening in brexit. we also have tensions and problems in catalonia. i always explain the independent movement in catalonia, that the referendum is not a solution.

it divides societies. it creates a huge fracture in societies, and it doesn't give a positive and constructive way out. i think it's much better to open a dialogue in order to restore and reveal a coexistence. >> you saw president rouhani yesterday. do think the iranians were -- do you think the iranians were responsible for the drone attack on saudi arabia? >> apparently, the information we get from different countries, our partners, isn't the way you are pointing out. but the opportunity that i had yesterday with president rouhani was to send him a clear message from the european union. it's not a good idea, it's not a positive idea to withdraw from the nuclear agreement. and spain is willing, with other european countries, to reinforce our commercial ties or

commercial relations with iran. >> we feel confident that we can meet our obligations in 2020. we will be submitting our budget within the next couple of weeks. we are in discussions with institutions, as we speak, but we feel very comfortable that we can find a compromise that will not endanger fiscal sustainability, allow us to put forward with our tax reduction agenda, and certainly keep alive the discussion regarding the reduction of the primary. i sense that there is more momentum supporting our arguments. >> you mentioned the important role that banks play in the greek economy. you're already helping the banking system with state guarantees for some of their bad loans, but they remain crippled by their balance sheets remain somewhat crippled by the amount of that debt they have. is there anything else that your government can do, such that greek banks will start the pump more credit into the economy?

>> first of all, you're right to point out that we have very quickly moved to what is putting in place massive protection that will allow the banks to offload a large number of npl's and np e's, and that will certainly improve their balance sheets and allow them to expand credit and provide funds to the real economy. but as the business climate improves, as asset prices improve, that will also help the balance sheet of the banks. i consider this intervention to be important. we will legislate along those lines and make sure that we tie up all the loose ends within the next couple of months. the instrument is going to be in place very, very quickly. >> trade wars are not good for anyone. they're not good for the u.s., china, or the emerging markets.

and a country like columbia, one has tried to diversify and consolidate markets. in the case of the u.s., it is our number one trading partner. we're on a permanent basis exploring opening markets for different products. this year, we will have for the first time colombian green peppers. we know are also exporting aggregated value transformation products. we have also opened in the u.s., lately, the avocado market. so we're trying to identify new products that can access the market and generate a positive impact. but regarding the nation market, in particular china, i was on a mission maybe a month and a half ago, and we reached two very important results, maybe three. the first was that we opened the banana sector for colombia. that means we're going to get at least $40 million per year of bananas that are bought in the

chinese market. we also opened the ground for the colombian avocados in china. we're now working on opening the beef sector pretty soon. and we have also made big calls on china's investors to identify projects in columbia where they can put resources. there's a lot of funding taking place on the road system, and the explorations of doing something in the sports industry. >> is there anything promised at the moment? >> there was an announcement of the financing of more than $400 million to a four generation highway in columbia, called ocean two. we also have an interest report that's going to take place on the coast, and there's interest of chinese corporations to participate in bids. >> i know you have a free-trade

agreement with south korea. >> that is a good question. we have a free-trade agreement with south korea. we had visited the prime minister a few months ago and we had called, and it would be a great opportunity for colombia to open up the beef market. we also want to get with tropical fruits, but at the same time, we want to be able to call korean investment to participate in infrastructure projects in columbia, and also sectors like center and creative industries, where south korea has been taking a lead in the nation. ♪ >> what we tried to accomplish the last 10 years is to make financial inclusion possible for people for people who did not have financial services antonella. -- until now. we've been working with india, pakistan, tanzania, ethiopia, brazil, argentina to actually make this issue a very important issue and also work with global

partners to see what is hampering in the access to financial services, for example the lack of having an id, which because of issues, you can't open an account. the fact that it's a business issue to actually have, for example, a bank show up far away in rural areas. these issues have been talked about and thanks to technology, we've been able to really cater and grow this tremendously. we've grown more than 1.2 billion people the last eight years in many countries, but do have access to financial services. it also changes in regulation. >> is a go around the world, -- as you go around the world, where is the most resistance? is it from governments, from banks, financial institutions? where do you get resistance? >> i think the change would be

-- i think that change is something a lot of sectors would be resistant to. the central bank will not be happy to immediately give a banking license term. it needs to be able to trust and realize what are the risks and talk with a network operator. can they actually take on this job? but we are seeing the change. we're seeing some countries that are becoming leaders in this firm and doing a lot of good, and still actually be financially sustainable. this is something that's good for them. it's not just good to do. it's smart to do. ♪ >> we are moving toward zero -- europe despite the war in 2008. we have, from one to the other, gone from neighbor to opposite member. we have free-trade agreement. so, all of that has been a continuous move towards the european union. so today, i'm not going to tell

you what we have, i'm sure you're looking at the u.k. to see what happens. so, we know we are also leaving. we're a small country so we have to be a realist. we know a decision about our membership will not be taken tomorrow morning, but my second message here in the u.n., we need movement. we need to see that we continue to get closer and closer and that one day people will discover that we are europeans and are already in europe. because georgians are very convinced inside that they are completely european because of the fact that they are christians, one of the oldest christian states in the world, when the state was converted in the fourth century. and that's how proud georgians are. that's why we say we are more europeans before the europeans, vonnie:

and we are going to continue. ♪

abigail: this is bloomberg best's review of the 2019 global business forum. ceo's were well resented at the program. chief executive had much to say about the increased focus on sustainability. ♪ >> it is 100% clear to us that the cost of inaction is far higher than the cost of action. and the business case for sustainability is simple. our brains that are run on a sustainable business grew faster.

customers want to partner with companies. and it's a magnet for talent. >> there's a lot of concern for plastics around the world. how are you addressing that? >> plastics is the material does your. -- do sure. plastics are a wonderful material. it has a good carbon footprint. the issue is too much of it , so up in the environment for us, keep plastic in the economy and help the environment. the way we're tackling it is less plastic. 50% of the plastic we use will come from recycled sources, and the no plastic. we are looking at plastic alternative materials. the big danger is that businesses that move into plastic alternatives have a much worse carbon footprint. so beware hysteria and behave responsibly. >> if you look around the world, in the developed world, we need to think about the fact that we

waste a lot of food after we bought it. how we actually buy food and consume food, portion sizes are changing. you'll see changes elsewhere in the world. it's about how do we provide the fruit? -- food. ? most of the losses is after it's been harvested. depending on where you are in the world, there will be changes. but here in north america and europe, it will be about how much food we consume. >> what do your customers want? >> it's about range, it's about policy, and it's about choice. and that's what tesco has done -- we're 100 years old this year. that's what we will focus on for the next hundred years. >> is there anything in your control that you could change, in the way tesco operates? what would it be? >> it comes back to food waste, the idea that one third of food grown in the world is wasted or lost. that's $940 billion of value destroyed, and it takes 25% of

the world's resources to produce and we wasted. -- waste it. this week, we announced the 10 largest retailers and food service providers are going to recruit 20 of their biggest suppliers against the journey of having less food waste by 2030. that's a big thing that customers want us to do and it's what we can do. ♪ >> i'm here at climate we because it's the epicenter of the conversation and it's a conversation that's serious, significant, a threat to our business if not addressed, and we're really seeking to drive systemic change and transformational change in relationship to an issue that's been important, but not been taken seriously at the level that it needs to be to enable the feature that we want and -- future that we want and need. >> give us examples, specifically, of her sustainability interacts with mars. he mentioned farmers. there have been issues about where coco gets raised. how do you address that?

we also have packaging. >> sure. there's a range of issues, for sure that face the planet, from plastics to how raw ingredients are grown. when it comes to something like cocoa, grown by firms around the -- farms around the world, it means rolling up our sleeves, getting on the ground, trying to understand what are the challenges they face to driving a sustainable income for themselves, not to mention producing what they're growing in a sustainable fashion. it really takes a partnership across a multiplicity of actors to drive change. and that's what we're endeavoring to do. ♪ abigail: two of the biggest names in silicon valley took the stage together in a panel on technology. the senior vice president and cfo of alphabet and google, and uber's ceo spoke with erik schatzker about how their companies and industries are

dealing with industry scrutiny. >> what we are doing very clearly is working with congress. we're clearly support national privacy legislation. the devil is in the details and it's incumbent on each of us to provide insight into the areas where there will be unintended consequences from regulation. so, privacy is one example. another one, the question is also asked of tech, are you paying your fair share in tax? the reality is, we've always paid the cdc average, but that narrative still exists. one of the key issues is that the international packed structure is outdated. the oecd has come forward with the proposal, which is gathering more support, for a fundamental redo of the international tax system. we very clearly support, and the devil is in the details. how do you work through it? it does feel like it is progressing. if you want to be a constructive

part of the solution, you have an obligation to bring whatever insights and technical expertise you have so you end up with smart regulation. >> i do think one of the dangers of the regulatory regime and the directions that we're going in right now has very much to do with insurrection, is that regulation and innovation are not friends. and listen, we're big companies and we will have a dialogue and abide by the regulation on a global basis. and when the rules are clear, we're owing to follow those rules. absolutely. but the startups of the world, businesses building exciting new ideas, etc., whatever regulation there is, we would want there to be room for innovation at a certain level, at a much lower scale, so that you can have startups who have some sandbox to innovate in, to take some risks in, at a size in

which they're not going to fundamentally change one way or another. and once they get to a certain size, they've got to regulate. they have to abide like everybody else. the direction, the dialogue, i think it's a private -- positive dialogue. we're going to do the right thing, but to create a sandbox for innovation that 10 years ago created uber and 20 years ago created google for innovation to still be possible in a regulatory framework is incredible. >> does either of you think that sandbox is getting too small? >> i think some of the rulemaking is -- creates -- is problematic for startups. it's tougher for them. they have to think about five different things versus just going and building a great product that is -- that consumers love, etc. >> anything you can point to, specifically? >> when you look at europe and

some of the regulations there, there is a european start up tech scene out there, and they have one more thing to worry about. as we look forward, i do think we should look to create a sandbox. ♪

abigail: you're watching a special edition of bloomberg best, with highlights from the 2019 global business forum. the panel discussion, were climate and trade intersect, brought together world leaders from the public and private sectors to explore two of the most important issues affecting the global economy. >> it's as simple as bringing alignment between the environment of goals, indeed goals, indeedal expectations we should have upon ourselves, with actually our trade talks and arbitrate devices. we're not doing that at present. let's start with our free trade agreement. we had the ability when we negotiate, be it bilateral or multilateral agreements, to make sure we are embedding environmental principles within them keeping with our aspirations and goals. >> in some ways, there is around around thisfear

nexus of trade and climate. what i mean by that is while globalization has been great and trade has lifted hundreds of millions of people out of poverty, there's the other side of that around the protectionism of people having lost jobs. and i think as people conflate climate into that and subsidies into that, i fear that people pullback and move slower than they otherwise would. >> trade agreement is part of a bigger corporation partnership, which also goes into research and innovation to make it happen. they have been criticized lately because of the fires in the amazon, which is extremely worrying. but you cannot accused the agreement of causing that. the agreement was politically agreed in june. it hasn't entered force yet. it would take two years. it's not translated yet. it's not legally scrubbed, so it's still time to go. but we think that is a way to, for instance, keep brazil and

others in the climate agreement and make sure they live up to what they have promised. >> that means there is a linkage between the trade agreement and the climate agreement. the country has a trade agreement with the eu, it can't leave the paris agreement. >> no, and that is why we cannot have a comprehensive trade agreement with the u.s. >> are you running out of time in the court of public opinion? the people who have the energy, bringing the focus on the need to act on climate, they do think trade is a bad idea and bad for the climate. how do you change that narrative? how do you bring these together so the climate activists don't think it's a bad thing? time is running out in the court of public opinion because time is running out for us to address climate change. so i think it's right they hold our feet to the fire. but on trade, actually, one of the issues we've had is that it's become really -- blame.

-- it has become really a tool for blame. we have to start taking domestic ownership. trade agreements are not delivering vader -- greater equality between the well of and the poor in our countries. arithmetic policies have to answer that question, as well, same as environmental policy. trade cannot carry the brunt of the blame, but he can actually -- it can actually provide some of the answers. >> it's vital to acknowledge the negative aspects of trade. many of us pro-trade say the benefits outweigh the downside. that's not sufficient. we need specific answers. that's really a central point. >> we probably need to take more radical action than that. i'm a big believer in a combination of the stick and the carrot, and i believe in many ways, it's the care that's got the ability to get us there. we have got to start thinking outside the box and incentivizing people.

i don't dislike having the stick because i think the stick leads to an irrationality of behavior. i can do that. i'll pay for that. i'll factor that in an economics will pay for that. we need to change the paradigm and incentivize people so we really bend the curve. abigail: that will be all for this special edition of bloomberg best, highlights from the bloomberg global business forum. you can find much more coverage at bloomberg.com, along with the latest news and analysis 24 hours a day. thanks for watching. this is bloomberg. ♪ devices are like doorways

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erik: bill, the gates foundation is zeroing in on inequality. it is the greatest obstacle to creating a decent life for people in the world's poorest countries. why inequality? bill: well, we take a lot for granted in the united states and other wealthy countries. the fact that we have enough to eat, the fact that children overwhelmingly survive. their nutrition is such that they are able to be educated and

live a full life.