fear or at least a story about fear and how some businesses are working towards a new fear front here i bet it will surprise you archies peter oliver gives us the details from berlin were firmly locked and loaded so let's get right to a few headlines leading our report today china is formally petitioning the world trade organization the w t o to impose seven billion dollars in annual trade sanctions on the united states at a meeting on september twenty first china will reportedly press for penalties pursuant to their twenty seven. victory in a case filed away back in two thousand and thirteen last year's w t o ruling found fault with the us method for calculating whether chinese exports are actually dumping their goods in the us or simply selling that at a lower price abroad than they do at home china also one of the w t o last month in a similar case regarding sixteen billion dollars worth of chinese exports that were terrified by the u.s.

stock markets worldwide trying to down on the news on this specific news rather and as a drumbeat of developments continues in the tense trade triangle between the u.s. china and the european union keep up on that. and moving to another corner of that tariff triangle u.s. and e.u. trade diplomats met in brussels yesterday e.u. trade commissioner cecilia strong and her staff met with their counterparts from the office of u.s. trade representative u.s.t.r. robert light hisor although mr light hisor did not attend the meeting and better light hisor in commissioner malmstrom will reportedly meet later this month in conventional negotiating fashion which seems sort of weird now it's nothing's conventional in trade these days the parties chose to per to prioritize areas where agreement seems easier to attain the parties will initially focus on what the u.s. t.r. calls technical barriers to trade including differing regulatory standards while putting off some of the more difficult issues such as agriculture and autos both sides say they can close. specific deal on those technical barriers by november and

u.s.t.r. has said that they will use trade promotion authority t.p.a. to expedite any agreement through the u.s. congress. moving to the edge of europe the slide of the turkish lira continued this week ahead of a meeting of the country's central bank the lira dropped again yesterday closing at sixteen cents to the dollar the central bank is expected to raise rates at this week's meeting after disappointing investors by leaving rates unchanged at the july meeting the lira has lost more than forty percent of its value this year but president erred on is very reluctant to allow an increase in interest rates to say the least mr heir to one has presided over a construction boom now faltering that was premised on easy and available credit many experts view the boom as a key to the consolidation of mr into one's vision of turkey's political economy and the potential bust as a threat to its stability and as a central bank move perhaps belatedly to support the lira domestic inflation is

increasing reaching the fischel rate of seventeen point nine percent for the month of august. and sticking with the currency crisis not only in turkey but in a few other nations on which we've been reporting we are pleased to be joined again by john grace the founder and president of investors advantage corporation who joins us from our los angeles studio john welcome great to have you back i mean it isn't just turkey that is having these currency conundrum of argentina south africa india and the philippines to name a few of the more notable ones but before we drill down into a few of those generally what do you think about these markets are they somehow related is there some sort of consistency or commonality among all of these countries that are having currency crises. i board good to be back and yes i see some combinations of events happening almost simultaneously i would say that it's been a summer slump certainly in emerging markets that may spread. to other emerging markets

and maybe even to the us of a i mean only time will tell the vulnerable currencies plunge the u.s. federal reserve raised interest rates it's pretty much to be expected but let's be clear much of this drama was actually precipitated by our own president's trade crackdown and he pretty much i think added gasoline to the fire so we'll see how this plays out global trade tensions political election uncertainty in latin america you know countries in the strengthening u.s. dollar have all contributed to the seven percent decline according to the m.s.c.i. emerging markets index of about seven percent as august thirty first year to date and john specifically with regard to turkey with this growing you know five point two percent second quarter g.d.p. it's seven point one percent in q q one seven point three last year i meet those signs are great on growth i mean so what is it inflation or what else is the problem in turkey that's causing the lyric to dive so deeply. well i mean you know

emergency emerging markets had a great two year rally in fact two thousand and nine to two thousand sixteen i think it's safe to say if you were in u.s. stocks you didn't need to be invested anywhere else however two thousand and seventeen we saw strong rallies in emerging markets across the board so there's it's just and area that has a lot of volatility i would say that turkey's crisis won't cause any emergency market crash like the way forbes put it with randy brown turkey's current financial crisis bears a striking similarity to the collapse of thailand's currency in one thousand nine hundred seventy which did ultimately lead to a financial meltdown across asia however you know we've seen the depreciation across the emerging market currencies as low as six percent as side with argentina forty two percent i'm sorry fifty two percent turkey's i believe is about forty two percent year to date as of august thirty first and so they have all the risk of default rising and yet we think it's unlikely to see the kind of repeat we saw in

the late ninety's what marks turkey's scenario particularly interesting and noteworthy but they're not alone and that's worth also recognizing is the amount of debt that they've taken on external debt we see a lot of examples including here in the usa a lot of debt consumer corporate as in addition to government we don't think that will in well but it's going to be volatile no question about it yeah we spoke about debt last time we appreciate you being on that's all the difference between thailand in the ninety's and turkey he says it is that you mention john argentina there and of course you know the argentinian peso continues to crumble having lost twenty percent versus the dollar over two days last week and it part of that about five percent i checked it today but on the year the peso still remains down like fifty percent so one salvation we've spoken about here is that there could be some cash infusion from the international monetary fund but president. machree he's betting

a lot on this it seems is that the only real salvation john. yes i think he recognizes the situation i was just visiting with some really good friends called the family from argentina i've been there a couple of times by the way is a good time to go there in terms of the exchange rate is in your favor but this is all makary i mean apparently ninety percent of the population are not in favor with trying to offer you know wine or whatever there might be for you know to the i.m.f. and so they're going to blame him he may face a one term election you know in order to lead to his demise in terms of being president like the kershner error so we'll see what happens in twenty one thousand we goes up for election but everybody their eyes are on him he's the one who's got to fix this he will be the responsible parties are either fix it fixes it and he survives or he does it in the eyes of the argentinians and he will be replaced john can you give us

a real quick take on india they've also got you know the sixth largest economy fastest economy growing in the world what's your take on the rupie. well let's talk about the economy itself for a minute i mean you know if you're a country you must replicate births with debts they you have to keep your current your population pretty stable india in terms of the emerging markets it is the only country that i've seen that is replicating itself they are having as many births deaths in terms of the rupee you know again it's just one of the worst performing asian currencies and it continues to just slide so we'll see what happens here it is a fastest growing economy i don't think that's going to stop their population is very strong that helps drive a lot of purchases and of course whether that internal purchases or imports that that's something that the country has to depend on so we'll keep them on our watch list john grace the founder of present of investors a bit of corp thanks so much john. thanks so much parts the next time.

and we now out of paris as our chief charlie dubinsky takes a look at the parisian stock market index the cac and some of the french companies which are part of that french market barometer you can attest to the state to give it its full title is a family of eighteen. markets among them is the capital our benchmark. index in my present value we measure. the home that it's not just and treat it shies well you're next right. well almost all of the companies are french film around five percent this to chance . to work best so it's. not like it's just the united

states that speak and launch percentage of the companies in this. jack travelled a multinational these companies are reviewed on the fruits of the basis and in its thirty year history ninety four companies have been to date twelve of the permanent fixtures. you can count holds also as a parameter of the french economy the second largest in usa so how is that who made the survey for the bank holds g.d.p. is expected to start to look. at how soon we were. made to be lower than expected the good stuff that. comes to pass is going to be something should only seven percent down see percentage points on top of these super he's close to struggling with public deficit public spending rolls

is amongst the highest flows and that's not going down well with the i.m.f. move the e.u. institutions will fall is too great to to do so the government has outlined job cuts and the public spending these plans have been received with a tricky reception the french public plea yet again time demonstrations this time against the measure is the next move president michael as she loves. this stuff. said by saying well we're not sure we don't mislead see my own take on it like. i didn't believe her. yet to. speak about it. and today is september eleventh nine eleven the anniversary of the worst terrorist attacks in history killing nearly three thousand people injuring six thousand plus

and causing an estimated economic loss of roughly three trillion dollars the do. yes included not only u.s. citizens but three hundred seventy two people from other nations representing sixty one different countries and there is unfortunately more unsettling news today that almost ten thousand individuals who work near the site in new york's financial district were exposed to toxic fumes and now have various forms of cancer according to the world trade health program as of the end of june more than ninety three hundred people are said to have cancer and an added four hundred twenty have already perished from cancer in total more than forty three thousand people have some nine eleven related health problems time now for a quick break but we'll be back in a flash and hear the numbers at the closing bell from the vibrant and fully functioning financial center of the world.

in twenty four to you know bloody revolution if you want the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you know lawyer here to put it but i mean you know this book to do it to me in the news that i do believe it or the former ukrainian president recalls the events of twenty fourteen. those which are. invested over five billion dollars to assist ukraine in these and i think it will ensure a secure and prosperous and democratic. with the goal make this manufacture consent to stick to the public well. when the ruling classes protect themselves. with the famous merry go

round the sun. one percent. we can all middle of the room sick. room in the real news room. period into the abyss the syrian arab army is determined to liberate its live and to eliminate the terrorists there essentially ending this international proxy war the u.s. and its regional allies are dead set against this why is the trumping ministration siding with terror.

welcome back the chief executive officer of the nostrum pharmaceutical corporation has thrown his company into the center of the debate on the deadly rise of the prescription drug prices by citing a supposed quote moral requirement to increase prices according to a drug pricing report from wells fargo bank u.s. based nostrum increase the price of an anti-biotic used specifically to fight bladder infections by four hundred percent crazy nostrum c.e.o. normal mole lead told the financial times that quote i think it's a moral requirement to make money when you can to sell the product for the highest price the drug in question has been designated by the world health organization as an essential medicine. and updating a big developing story chinese online commerce john ali baba has confirmed details

of their joint venture into russia online commerce including a major new partner the partnership was officially and now. with great fanfare at the eastern economic forum and what a boss stuck attended by heads of state including both russian and chinese presidents the venture which the partners have branded as a digital silk road will be executed via a new company called express russia russia's third largest telecom firm megaphone has been unveiled as a partner and ali express russia joining ali baba the russian sovereign wealth fund and mail dot ru russia's largest internet provider continuing with the subject of greater cooperation between china and russia we're joined from our new york studio by artie's caleb mop and pail thanks for being with us i mean this economic summit . is taking place and among there's other people too there's a thousand folks business folks from chinese and there's a meeting between of lattimer putin and. paying so that seems like

a pretty significant deal to me what do you make of it and what does it portend. well the eastern economic forum is turning out to be very very promising indeed now we heard an announcement from the russia direct investment forum there actually saying at this point that they've got seventy three new projects in the works in the works worth over one hundred billion dollars now what's taking place in russia's far east and in central asia is actually one of the most underreported stories in western media when i was in sochi russia i heard asal toji of the norwegian nobel institute talking about how it's almost a golden era all across the subcontinent you see new trains being built neighborhoods and regions being lit up with electricity people being brought out of poverty it's very very exciting what russia is doing with the eurasian economic union and china is doing what the belt and road is quite quite an exciting

development a lot of lives are being rapidly improved that's what's being discussed at the eastern economic forum and kaleb the cooperation is it only about you know economies and business tell us about the largest military exercises since the fall of the soviet union which began today and china is playing a part in that right. well those drills are a big deal but can we be back up for just a minute because you know at this point russia has got about nine overseas military bases china they've got only one of one they just built in africa in djibouti at this point the united states has over eight hundred overseas military bases now at this point it's pretty clear that a lot of people in russia and a lot of people in china feel like they're being encircled you've got an increasing presence of nato troops and missiles in eastern europe at the same time you've also got the asian pivot and an escalation of the u.s. military president asia and what that going on we really shouldn't be surprised to

see russia and china strengthening their alliance not just economically but militarily in the face of what many see is kind of an encircled. great and tell me . what is the current military business relationship with regard to china and russia. well if you want to talk about the relationship you have to see it this way ok these are two countries that have pulled themselves up by their bootstraps in the one nine hundred ninety s. russia was wrecked after the fall of the soviet union the economy was just a mess and vladimir putin came in and the way he rebooted the economy was by creating two gigantic state controlled corporations gazprom and ross nafta and now russia's economy has vastly improved as they sell oil and gas around the world and back in one nine hundred forty nine china used to be called the sick man of asia but now half the steel in the world is being produced in a state controlled steel industry in china they've also got the biggest telecommunications manufacturer in the world they're making huge breakthroughs in

technology seven hundred million people lifted out of poverty these are two countries and in a way they're almost like a match made in heaven because on the one hand china needs lots of oil and gas to run their huge state controlled apparatus of manufacturing meanwhile russia has got lots of oil and gas that it needs to sell so in a way they just kind of compliment each other it's quite exciting what's going on you could say that russia and china these are two countries that are basically obsessed with growth and reducing poverty around the world and both of them have huge private sectors big corporations making lots of profits lots of business going on but they also a very active governments that aren't afraid to step in and make sure that the market functions in a way that benefits everyone a very interesting and informative as always our correspondent caleb bop and thanks caleb.

and now our tease peter oliver tells us a story about beer and some businesses that are working hard on a new beer for a tear but this was cries a lot of you here's peter from berlin. africa has become the world's fastest growing market for sales of beers we look at twenty eight teen it's expected to have grown the be a market anyway by four point five percent compared to one point four percent globally the focus has moved away from premium brands and towards cheaper brews in fact we've seen heineken the world's second largest brewer launch a one hundred fifty million euro operation in the ivory coast in their biggest seller well it's a local brew that uses local rice for the fermentation process and is flying off the shelves since twenty fourteen those economies that were dependent upon

commodities well they've suffered really badly specifically particularly places like nigeria if we look at it one of the world's biggest be a brands of guinness and its parent company geo i mean we stay in nigeria but it's become too expensive simply as what we're hearing we've seen the big boys as well getting involved and house of bush they bought out the company that has its roots in south africa s a b. miller they bought them out for a whopping seventy nine billion pounds and that opened them up to seventeen new countries where they could they could try and get around and get involved in this budget brew market and what actually we're seeing is that it's also their share of the market went down in south africa which is their biggest market that by one point two percent a drop down their their share of the market went up by four point seven percent of sales in nigeria and twelve percent in zambia so that's seen these big

companies turn to their lower cost options but that's those lower cost options that are being bought by the book fold by the crate fold by the keg fold across a. africa but ultimately the aim for the likes of you and how is it bush is to get consumers away from the brands and back to their premium brands but going to the fridge but going to the for a corona for a stellar. and they're hoping that they can use these lower cost brands to keep will brand loyalty really while they try and hope for economies to pick up that they can get back to people purchasing them more expensive bruce. and we think peter oliver for that report. and there continues to be focus on what the impact of tariffs might be upon apple incorporated the world's largest information

technology company by revenue which brought in nearly three hundred thirty billion dollars last year alone might it also mean consumers will be paying more for apple products conservative t.v. and radio commentator steve malzberg joins us to take a look at steve welcome thanks as always for being with us let's start with sort of a baseline i mean apple is a u.s. company and they've been doing really well and that's reflected in the stock price not just for the last month or last year or year over year for many years but they actually have not that many folks are actually employed in the united states they're really an international company and have a heck of a lot of manufacturing done overseas right. oh yeah great to be here bart absolutely when you look at apple the manufacturing can and components are again from other companies which are located all over the world and once they get those those parts they were assembled in still other countries and then you have warehouses in other countries where they're of course shipped to the finished

product after they're manufactured and produced and they're distributed from those warehouses so absolutely let's take the i phone for instance the i phone has components and parts from companies in the united states china taiwan south korea you also have italy you have france you have the netherlands so you could see what kind of global project if you will apple's products are but a lot of i mean thank you for that and i actually did know all of those countries because we always seem to focus on the big one the eight hundred pound gorilla and that's china's so could this twenty five percent tariff on two hundred billion dollars worth of chinese made goods coming into the states those haven't been imposed yet but some say it could happen very soon and it seems like that would be a really big hairy deal and what are the products the i phone we know that's made over there but what are some of the other products which could be impacted and what are the options for apple here's steve well you have the the pencil the watch the

air pod bunch of other components like cables and accessories those are the products that would see a price increase here in the united states and analysts believe that it would have caused a ten to twenty percent drop in profits on those products but that just makes up they say about a one percent difference in the total bottom line you know those products sold in the united states make up about that it's twenty six billion dollars a year and that's one third of the sale of those products you mention the i phone the i phone really wouldn't be affected as effect three new i phones will be introduced tomorrow by apple all different price ranges but. the i phone could hit apple is if china starts prohibiting their people from buying it in retaliation or if the people there get so angered at us and that you know as an ad america and they say we're not going to buy apple i phones or by other companies i phones that's where the i phone could come into play with this now there's no company better and quick to handle these tariffs and this problem if it becomes

a problem what they were trillion dollar market cap their profit margin there you consumer a loyal consumer base so i think apple is going to be in good shape no matter what happens well we'll have to see if they make a move and come bring some of that manufacturing back to the u.s. as president trump once see if malls were a conservative t.v. and radio commentator thank you so much steve thank you bart. and that's it for this time thanks for being with us you can catch us at boom bust i'm sorry you tube dot com plays boom bust r.t. we'll catch you later. prosecution will need to be called the scene this should be focusing on it at the takeoff where you push. the threshold fines come on somebody's going to see you do

i mean yeah and you know i mean but there's a good pressure on that don't you. conclude to see cretinous in newsweek when you're trying to run down the business models used by american corporations jackals was a complete piece someone could do that to the citizens and abuse he controls your medalist michael phelps he. said. he's up in association to get home please know that i don't think that he saw some dogs it is just somebody has to be taking. an investigative documentary. ghost war on us. ministries police forces and city administrations of many countries depend on one corporation that does my mike was hoping to avoid just one from one president god i'm stumped this is how the guns are not the ones as the fee that you got on him to see it the best possible by being proprietary software you don't know this whole

cult isn't that a such a security risk when you have a black box operating in the public eye to microsoft's dependency puts governments on to cyber threats and not only that to think off message put it more on. the selfishness listen to this is selling this false lead one. to think through almost i will miss you or some of those with. these this is the i still. don't miss the old vision stopping them also still holds a funny as i am his cards on the find. the one.

that you're going to money. was there was. a loon. for pm near moscow in the headlines this hour president putin reveals that russia's identified the suspects the britain says carried out this group poll foley's name. is nothing special or criminal and you get us those are the civilians yes they are definitely civilians. too and. story vote in brussels says the view parliament's taken in the last hour to an article that could lead to sanctions against one of its own geraghty decision will see hungary lose its voting rights within the block . and russia's u.n. envoy clashes with his u.s. counterpart.