while the rest are mostly in us but according to prime minister the media moscow is now considering swapping a part of its europe reserves for equities you know other currents so when we see the euro bass decrease and other currencies enter the steamie the chinese yuan or even the russian people this could be a troubling signal for the euro especially if other currencies follow the trend like china which holds one of the europe that's around eight hundred billion us dollars you can imagine the importance of these investments and what could happen if a domino effect takes place and finally you see a hat some bro actually and it's really not just a hat it's a matter of brand protection colombia is taking steps to protect one of its national symbols the sum bro the country has banned of the sale of cheap chinese knockoffs that are killing the local brand chinese made imitations of the black and

white some bros sell for half the twenty the price for a twenty excuse me half the twenty dollars price of the least expensive originals artisans spend up to fifteen days cutting sun drying and braiding cane leaves to make a single hat the chinese knockoffs are plastic and a machine made violators will now face fines up to get this three hundred thirty or sorry three hundred thirty. i can't even say the number is so big three hundred thirty thousand u.s. dollars for a hat and there it is now the movers and shakers of the world's economy have all returned from the annual form in davos however before that our team managed to catch up with russia's aluminum tycoon pasta that exclusive interview is coming your way right after a short break on r.t. .

victims multiply here each day. it's very profitable to invest in colombia with that every profit out of the it is a very high return on investment. you'll know me i said but i've been working in this area for thirty years and i've always had to pay the armed groups and they are i mean that is not a manager is a change their name and strategy but just tell the same budrus. high ranking suspects give no comment are you upset about that mr president go soon.

to president putin. both of you. i won't give an interview i'm sorry but no. investigation is a dead. end and says sick and stop your bullshit and keep quiet or else you'll suffer the consequences. even if they're your bodyguards to watch themselves because the same goes for them. regards from synch i've never heard of such a case as ours for so much money and gold has stolen so many. for all the gold in colombia on our t.v. . emission free accreditation three times for judges three. main germans three. three stooges free. download free broadcast quality video for your media

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. this isn't your first time in davos and the focus this year is definitely on trying to get the world economy out of its current crisis mode why do you think one of the key speakers was a me term investor he was obviously showcasing of russia as an investment opportunity what do you think of the main hurdles at the moment that are not allowing foreign investors to flock to russia because maybe a better opportunity for us it's important to improve you know our you know own situation and her words and was. more predictable climate. to gives them. more transparent picture of the world in the practice should be

changed and i think that was the main reason why government officials said there was a double is just to show that they have a strong commitment to not to do this what do you think is the first thing that needs to be done what do you think the government should focus on to really address the out first so those should change management of central bank because what you're set in there's a whole country all around the world tried to curb problem which happened into cells and they turned we have completely opposite direction where with central bank which creates more problems for the gross and tried to support well speaking of the central bank when you had the opportunity to speak during a prime minister medvedev session the only thing you said was that russia has two great banks d.t.b. and spare bank and that is certainly not enough can you elaborate on not can you tell me why you think that's not enough for a country like russia and what do you think needs to be done in this respect russia

not just moscow russia not just resource sector you know russia is a waste to put you into you know from what you are still to some because from a good. culture. of course. we should have been a better financial system but no one could grow it's not a mushroom it's not enough to here were a. financial system it's a commitment it was a country commitment i was the no state institutions in the center bankers and the people you know to grow proper infrastructure for capital markets for that market we already have in a view on opportunities and begin of not just what we try to build capital is not even democracy we know one no one has interest in democracy we have a license and we're trying to build capital is world capital as well as market economy with people who understand the know how to run enterprise in the private enterprise and with hail and this failure cost us almost to sort of jaded now would

try to develop the country was that market who tried to bring innovation we tried to bring. in the end user put unit to. not to benefit at all w two without comparing what cost of capital in russia and was a country which would want to compete with germany was united states was a career and we have a course of capital in there which four times higher than the same cost of capital and us three times higher in korea and of course it's you know it's not in the market unity and this is what we should do and it's not for and worse and it's not so you know for you know for foreign media or i know it's our homework and we haven't started yet well the cost of capital in many ways is tied to inflation so that's one of the issues that should be tackled would you agree with that there were trash in the flesh in his nominates or base it's everyone knows even center

back analysts in the shoulders and would not talk about the new inflation. in the basic you know in the the in. problem in no it's about money supply there is a very basic failure you know we don't have institutions would grow and we don't have a middle class we don't have. in the foreign investment which which group which provide money supplies and so on this sentiment and sentiment should not suit and comfortable chairs in the teachin as it's a wrist structural problem there is inflation which could because lying ass actually bodes in the course what's going on we know the result inflation cost of capital and the cost of that and this is something that should be changed we did and how do you think it should be changed and how do you think the central banks approach could be changed what is the main problem what is the main reason for it being the way it is the main problem is that people if you look at c.v.s. no one was and so in private banking you know what they run you know almost market

economy we still have a great in the state prisons we still have a lot of an efficiency but it's ridiculous we need to help people who experience a problem we need to hope people who knows what's customer relations what's true customer relations and and solve this issue. it will it will it could run forever you are very big on china. and there's been a lot of talk this time around in davos that africa is going to be the next china you have assets there would you agree with that assessment you know what prevents them from being the next hot spot for growth. in the us to build. not competence the lack of education. you know as a result of work work work there's just a dream. where you mentioned the w t o and obviously that's one of the hot topics for russian general we have

a lot of expectations but you know nobody really understands how our economy's going to benefit from the accession how do you think it's going. time around who will not change monetary policy will number one if it's for sure that's an opportunity you need to use as a butcher but again if cost of capital and that in korea you know most three times was in the russian who would in the west in comportment sound when you're all region instead of a not to buy enterprise in korea you know there was no proper supply base productive workforce and no barrier to bring this complement back to russia is this is the reality in that it's not a charity but what exactly what we're seen industrial people do not do our government first to prepare economy try to recognize what sector would be developed try to organize support for the sector and certainly not jump into this chart you know in the ocean well do you think that this

a lot of available capital is one of the reasons why russia's economy is not diversifying away from its dependence on the energy exports at the rate that perhaps some would hope it's one of the one problems we need to have not just. diversification regional do is to a cation not only for in the regions in russia benefit of development for the last ten years. main problem is a human perception still people would not look at the business as opportunity to not to soul in the many problems they still believes of the government should do not do some miracle to provide solution which is huge mistake and of course no one wants to support the business on. on the hard issues we talk about and i'm sure for small montreux will go to discuss we talk about two infrastructure we

talk about investment in infrastructure and we try to look at the development in the interest potations sector and interest sector in that we try to develop a system. runs a customer yearly increase in tears will pay for development of utilities it's ridiculous you mentioned image and the perception that's really also been one of the main issues here everybody talking about the image of russia not quite being up to par not really quite being up to what the reality of doing business in russia is but yet according to many surveys less than thirty percent of russians are actually interested in having their own businesses that's a very low number compared to pretty much any developed country why do you think that is and do you think it's a matter of entrepreneurialism having you know a bad reputation or having the wrong image or do you think there are deeper underlying problems with assuming so those accounts are recognize that so it's hard

work and you need to commit to almost. free time you know to not to do it we need to help them to grow we need to reduce barry not to start a business to as i said banking system point to oppose access to resources infrastructure and through support of the original garments and actually a fair budget system now we can so that all money from a budget to moscow and sandra distributed nature of its people incentive for regional governors smiler not to develop substance because then it would be equal worst so there is a big divide between the center moscow and the regions we all know about that and that's also been one of the issues discussed here before on a global level this divide between the rich and the poor the haves and the have nots how big of an issue do you think it is for russia unless we will not move our

capital so we're in the region like a cartoon book and i was abuse could you know it will it will become even worse in that section to create wrong. signal for the labor market we have tracked so many people from the. republic which actually. the great mall burden for moscow all the cities you know some pizza region moscow region some . infrastructure and they actually create and will create more tension and this is completely unnecessary the only way to move capital somewhere not so close to moscow is a decided now because it's a mistake and to trade to develop saying we're like brazil do play because our star due to that will be very beneficial in the assault approach it looks like china is really driving the demand in the metals and mining sector at the moment do you think that's going to be the trend going forward. because industrial freeze is

a new mall a commodity to complete programs so there's a cycle in china development one zero very far as growth rate in term so for consumption all of us come in order to us and say create a misperception in the wall it's all we're. in the we need to rationalize old port not to meet demand not to produce you know waste and not to produce i might tell him so resources for this talk and this is a reality as well bill less investment in mining sector. in the future and in the west should be very cautious you know to choose what project to fall or if there will be less investment in the mining sector what other sectors are you looking out for yourself in the we look at the russian development in the fracturing financial sector and construction in the financial sector what are you interested in it's a future story. ok thank you very much.

the first baby steps are joint. folds and bones are not a big deal. but they can cause terrible trauma. for children can be broken by bare touch. and only the will of life can make old pains and sores. fragile people on r.t. . here the reindeer is interesting for the herders. and when it suffers. people do their best to help.

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market why not come to find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into kinds a report on our. victims multiply here each day. it's very profitable to invest in colombia with that very profit out of it is a very high return on investment. which is good knowing that he has it but i've been working in this area for thirty years and i've always had to pay the armed groups at a meeting that is not a managers who change their name and strategy but just tell the same murderous. high ranking suspects you know comment pretty upset about that mr president goes.

to president putin. but the media. i won't give an interview i'm sorry but no. investigation is a dead. end and he says basically stop your bullshit and keep quiet or else you'll suffer the consequences. even if they're your bodyguards to watch themselves because the same goes for them. recruits from sick i've never heard of such a case as ours were so much money and gold has stolen so many. for all the gold in colombia on our t.v. . mission in free cretaceous three in stores. free. free. free.

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. live. live. live. science technology innovation all the list i'm elements from around russia we've got the huge earth covered. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harvey welcome to the big picture.

cheer the reindeer is interesting for the herders. and when it suffers people do their best to help go up. the distances or. the roads are. to.

be untied. the fall.