discomfort. this is what we don't understand how we are in such a country. let us into the minds of the us into. noticing. the soon to run out for a similar simple. why do you need one leg of the us if you feel if the minutes of phone were not there got him we'd leave again with the phone without the food stamp without the plane. would come back to the place story you have to see. the. movie. to. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm

show business i'll see you than. just manufacture consent to step into a public well. when the room in closest protect themselves. with the famous merry go round certainly the one person. we can all middle of the room signals. from the real news room.

this is from bus broadcasting around the world and covering the world of business and finance and the impact on all of us i'm bart chilton in washington thank you for being with us we're sure appreciative coming up today we look at the u.s. china trade as officials from both nations seem to want to play nice but are the moves being made making a difference alex behind all of it is standing by will also update us on this status of the wall way see a she's out of jail but not on her way to the united states can we look at the chinese economic and government system in light of the globalized trade is that suited for today's economic realities professor richard joins us plus there's a pretty key crypto news out including how the price plummet is resulting in job layoffs kristie i have counterparts as is back with us to discuss and later the us mexico border is back in the news as president trump says he please please if the government shutdown doesn't get border wall funding john cavil which will help us

understand the policy and politics all that directly ahead you're ready to go. trans-pacific trade politics leads our globe report today as china makes what some see as a key concession to the united states the shift was affectively disclosed by the omission of the made in china policy for official guidance to local governments from china's state council which were then covered in the state media china's new policy which will pursue similar goals but emphasise a role for foreign companies will be unveiled in early of next year for more on the trade china dispute civically trade tensions we head to canada and our teams alex mahela bitch alex it seems that the u.s. and chinese officials at least outwardly are trying to be nice play nice not say things that are too harsh but it's been pretty tumultuous alex what are they making any really material concessions so far are there

a rubber meets the road really with autos are there any progress on all goes in the autos and those tariffs. well when it comes to the auto terror there has been progress of the tariffs have been dropped to fifteen percent from forty percent of last july fifteen percent per much of the standard tariffs for a cars entering china so obviously that is a big move in the positive direction and but you know when you really think about it and a lot of people are thinking while the back in the states there should be more auto workers that are going to be employed except for not really there's a that manufacturers are in some are in china already and second of all the ones that you're seeing in the states that are going to be profiting the most are not necessarily american b.m.w. is actually the big winner here b.m.w. the biggest plant on earth happens to be in south carolina line and they do a lot of their x. series as you viz there and this counts about in two thousand and seventeen about eighty one thousand of those s.u.v.s went to china that's over twenty percent of

those manufactured but this is still not written in stone we're still waiting to hear from china for them to give the full on thumbs up on this and what about agriculture alex particularly we've talked before about soybeans our largest ag export to china at least it was. and it's huge soybeans are a massive export look u.s. farmers this is a big win for us u.s. farmers we're actually seeing soybeans being bought by the chinese you get a massive massive order was placed in today five hundred thousand tons that are about one hundred eighty million dollars these are two chinese state owned firms that are buying these soybeans so again a positive move and as you mentioned even sixty percent of soybeans actually from the states go to china that's valued about twelve billion dollars and and you have to consider one thing the tariffs are still on so it's a twenty five percent tariff for soybeans moving for the states into china but it looks like they really really need soybeans badly so they decided you know what we're going to buy him up anyway we're buying from argentina brazil but we need

more so we're coming back to the states for this farmers will be happy about that in the states it's been a tough few months for them and there's news today out that hack that we told the boom busters about marriott and starwood were five hundred million five hundred million guest information was breached some of that included passport information and it appears to have done by china u.s. investigators are saying chinese state hackers were most likely responsible for the massive intrusion and by the way to date marriott starwood had not content to contact their own customers about the matter is all bad on marriott and starwood but alex's continuing concern about china stealing intellectual property and hacking like this marriott matter continue to be a concern in that regard what's the latest on the wild ways c.f.o. mismatching and her rest there in canada big she's been released on bail and the canadian judge who released her said that he's not really. seeing her as a flight risk anymore there's a over seven million dollars in bail there and some of the her friends actually put

up personal property in canada as before for bail so that's one big reason she's also has an ankle bracelet and on top of that she's only allowed to go so distance and not too big of a distance away from her house and she's got a guards so guards with her at. all times that she has to pay but that have to make sure that she doesn't run out of the country so according to meghan though she's saying this could be a great start for her to catch up on some reading she has read and write a book about twenty five years spent time with her daughter and she's even considering getting a ph d. so she's looking at this as time off for now good for her nice positive attitude on her part of my highlights thanks alex thank you. and turning to europe french president emmanuel mccrone promised to yellow vests protesters at scrabble budget politics and the european union as we've reported e.u. officials are pressing the italian coalition government to abandon spending promises and keep their budget deficit within the e.u.

his preferred limit of three percent of gross domestic product but while the e.u. is threatening italy over budget plans that could push the italian budget deficit to just two point four percent of g.d.p. below the limit analysts now say if it acted mr mccraw promises could push france's deficit even higher to three point five percent of g.d.p. if e.u. officials allow mr mccrone to flout the budget rules they risk creating an apparent double standard but opting for consistency by pressuring mr mccrone to pull back could destabilize the unpopular french president's government european commission head john claude juncker an italian prime minister conti met earlier today in brussels and to take a different look at some of the major economic news around the world we now turn to professor of economic americas at the university of massachusetts amherst professor richard wolfe professor great to have you back there's so much i want to ask you about today first i want to ask generally about china and their economy and not

about the third quarter any particular data point but more overall professor how their economy is doing and how they've been operating for decades with specific regard to technology and are they playing by the rules of global commerce i mean given the concerns about stealing intellectual property really what seems to be part of their business model it has been for decades does china need to shift gears if they are to be accepted in full by global governments and global companies. basically the answer is no and let me explain why for most of the last twenty to twenty five years the united nations keeps a record how fast is every country on earth growing and the number one country for most of those years perhaps even every single one was the people's republic of china this last year is a relatively not so great one for them their economy grew somewhere between six and seven percent which is more than two to three times the rate of growth of the

american economy if you grow that quickly for that many years you become what china now is a rich powerful advanced industrial country because it is so big it has all kinds of poverty left all over their society much as we do here so there's still lots of poverty but it has developed a very modern high tech industrial basis and they're doing what people in that situation can do they are challenging all of the older leaders and they're challenging therefore the united states and western europe and japan above all else and this is been going on for a long time it's not going to stop the momentum is there the commitment is there they have a successful program it's been successful for twenty five years which is why they

are the important country they are now to expect them to change gears to go in some fundamentally different direction is really kind of silly it's not only that the clock isn't broken it's up the clock is cooking real well for them pardon my mixed metaphors and so they're going to stay with it and we can play games and posture and they can make some concessions which bay by the way they do all the time that's their approach mr trump has been quite aggressive they have been quite. chama dating they don't do tit for tat they are their responses are little much smaller than what has been done to them but there they are winning this game so they can afford to be kind and generous and let me make a last point about this intellectual theft. there's a confusion here the chinese started thirty years ago offering western companies american british japanese and so on

a deal you can come into china where we will deliver to you working people well disciplined well educated and much cheaper than you pay in your own country we'll let you come in here and have those workers will also let you come in here and sell all to the growing middle class here in china which is a wonderful new market for you these are two things we will give you you in the exchange must give us access to modern technology because we need that just like you need cheap laborers and you need bigger new markets this is not thievery this is a deal no one held a gun to the head of the american and british and japanese german and other manufacturers who moved to china that was a deal they found at their pages and profitable so they went into it last point you know united states should understand when we began as a nation we had to fight

a revolution against the british they didn't want their capitalism to be pinched by the growing capitalism of the united states we won the revolution but they still weren't complete happy so in eight hundred twelve we had another war with britain they tried to hold it back it didn't work in world war one they tried to hold back the germans who were developing the modern capitalist economy and challenging britain and that didn't work real well either so i think we ought to learn a lesson we would be better served by coming to an agreement and an arrangement and an accommodation with the chinese because an aggressive attempt to stop them history suggests that doesn't work and if you keep pushing it it turned lead to war . professor i was noting i article and the u.k.'s guardian just a little bit ago about these disney dolls you know this little mermaid ariel that's

made over there at the factory in the gone gone province in the city of wyoming and they are getting a dollar and nine cents an hour and there they work one hundred seventy five dollars hours overtime each month and those dollars cost forty four dollars apiece so i'd love to have you back some time when we have more time to talk about how it mean it's all about the bottom line dollar for manufacturers all over the world but that seems to be an oxymoron with whether or not they're doing so well i hope you'll come back and talk about it more professor emeritus of economics at university of massachusetts amherst ritual thank you so much professor we sure appreciate it. thank you. time now for a quick break but hang here because on bret's that news as we went to air you came prime minister theresa may survive to a no confidence vote with two hundred votes versus one hundred seventeen votes to

remove her stay tuned for more when we return there's plenty of key crypto news out including how the price plummet is resulting in the job layoffs christiane of counterpart axis standing by to discuss and john cavil it will help us understand the policy and politics of the us mexico border wall which is back in the news as president trump said he'd be pleased with a government shutdown if he doesn't get some talks for the border wall as we go to break here the numbers at the closing bell back in a flash. you know i work with potential school shooters for a period of twelve years and none of the students who we work with in our facility facility ever went on to commit

a school shooting so that gives me hope that if you catch the students early enough and provide the kind of support and mental health treatment that they need that they can come out of the crisis. to what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race based on often scary dramatic development only really i'm going to exist i don't see how that strategy will be successful very critical time time to sit down and talk.

welcome back u.s. telecom major varieties it is making news again today this time with a drastic valuation write down last time we told you about verizon eliminating more than ten thousand jobs but now they are essentially writing off four point five billion dollars of value for their oath media group their digital media holding company verizon built around their acquisition of america online ale well back in two thousand and fifteen and yahoo in twenty seventeen for

a total of roughly nine billion dollars those media brands were already faded and dated back then and verizon has been unable to revive them finding a buyer for both properties which reportedly only garner three percent of online advertising revenue would be extremely difficult given the dumbest dominance in that field of online titans like google facebook and amazon. and catching up with changing corporate cultures bill lloyd one of the fabled for big four accounting firms says they have cleaned house in the united kingdom by dismissing twenty partners for bullying and sexual harassment over the past four years the white c.e.o. david sprawl disclosed the dismissals and promised a zero tolerance policy moving forward to. no one is protected the white big four peer p.w. see formerly pricewaterhouse coopers made a similar disclosure saying they have let five partners go k p m g says they have parted ways with seven partners and ernst and young says they have also let five

people go to. us big box retailer cosco wholesale corp says they will set a hard deadline for eliminating routine use of antibiotics on livestock by or before december of twenty twenty one fast food chain mcdonald's today made a similar announcement cosco has been working on their own plants it's their filing of a shareholder resolution on antibiotics issue in the summer of two thousand and seventeen by a group as you so that group as you so applauded costco's response and pointed out in their response that seventy percent of medically important and a box sold in the united states are used on life stuck. with the price of crypto currencies taking downward dive as we've told you about some employees are losing their jobs because it has lost half its value in the past thirty days it is down eighty percent from the highs last year last week to block chain companies cut back on staffing including the renowned firm consensus which says they will lay off

thirteen percent of their work first joining us take a larger longer look as a co-founder of counterpart x. christie christie thank you for being with us as always in addition to these layoffs there are a bunch of firms that have chosen to wait until money raising environment is better before staffing up so it seems like things have slowed in the crypto space somewhat what's your view on it. yes things have definitely slowed down in the crypto currency landscape especially now at the depress prices of klein in addition to consensus very renowned firm steam at virginia base block chain social network start up they have announced that they're going to be cutting staffing by seventy percent and this is all due to all of the i see on money raise last year all of the money was raised and quiet and was kept in reserve and big quiet and because of these depress prices all of these firms are forced to lay off staff and go lean in order to survive this very long winter i want to ask you about a couple of exchanges that were in the news today kristie one is crack and that's

that u.s. crypto exchange they're considering a private offering to high net worth investors or maybe that's the way to go but they have had some legal issues dealing with those bitcoin cash forks you told us about before now is your call they refused to provide some information to the new york state regulatory authorities not too long ago not a way to do business in my book but you think cracker will be successful kristie. well here's the thing crack in is now valuing its shares are four billion dollars and now still they're offering this entire offering to private high net wells investors this means that investors who are interested in participating have to indicate their interest by december sixteenth in order to be considered they will that have to pass eligible billeted screening in order to participate in this offering however it is interesting to note among the investor community they're very skeptical of this valuation as crack and was originally valued at eight billion dollars even earlier this year after a five million five hundred million dollar injection and this was back when prices

were and around the mid six thousand so this would be a down round for crack and so we don't know what the indication of the interest is right now but this would be a very significant haircut to crack and overall valuation from early earlier this year it would be it would be but not surprising but think thanks for explaining it and finally i want to ask you about another exchange mono mix which i bought coin check that's a crypto exchange we told the busters about earlier in april they were hacked and says they will launch an exchange in the united states does have a chance of success here in the u.s. kristie. so john barnett just on that the president of the u.s. subsidiary trade station. he announced that they will be launching a u.s. consumer based exchange in hue one of next year they said they will initially launch by offering the top five coins traded this includes big coins coin cash coins and potentially even repl he said that this would be differentiated because

they'll be offering their services to institutional investors this will be very difficult emphasise that will be very different than the current coin base and robin hood which is targeted towards more retail investors however i would like to point out that there are a lot of heavyweights in the space already we've talked about the n.y.s.e. parent company that will be launching back to next year as well the dell of the is also offering institutional platform to their clientele so there are a lot of heavyweights in the institutional space already so. if the prices of big point continues to be depressed we'll see institutional and smart money be very hesitant towards and trying the space next year well i'm optimistic i think things are going to turn around next year be able to talk about that next time christiane of counterpart thanks as always kristie pre-shared it.

one tuesday u.s. president hosted democratic congressional leaders at the white house for talks on our vertigo a partial government shutdown but a photo op became a public debacle on live television as mr trump shouted demands for funding more walls on the u.s. border with mexico if we don't get what we want one way or the other whether it's through a military through anything you want to call i will shut down. and i am proud and i'll be your lottery i am proud to shut down the government of owner security check why can't we all just get along mr trump's on air tantrum was likely fuelled by his realization that this budget battle may be his last chance to secure more funding for border walls before the midterm election mr trump indicated. founded fear is related to a caravan as desperate asylum seekers crossing mexico only to drop the issue after the election his anti immigrant rhetoric and policies are currently affecting u.s.

relations with the americas other countries in the americas and could impact commerce and trade here discuss our presidential predicament is john cavil it's the president of the u.s. cuba trade and economic council john thank you for being here you were so great to help us on some other latin american issues last time we love have you talk about cuba u.s. but appreciate your expertise on this i mean what is driving these people that are part of this caravan going all across central america some of them you know mothers taking their families you know thousands of miles really marching towards an uncertain future why are they doing it in thirty million people amongst the doors quite a mile now salvador so this caravan about two thousand people so on a percentage basis it's small but there is some group think there is people see. some people doing it and then they figure let's join and you keep doing that as they go through three countries and then through mexico but also they're in a horrible way some of the leadership in these countries are encouraging this and

it's a way to just lessen the number of people you have to take care of and lessen your responsibilities get rid of the ones you don't want and at the same time. somewhat politically try to box in the united states and make it uncomfortable for mexico certainly a set of circumstances. there are legitimate immigration reform issues between in the us the two political parties republicans the democrats. the border wall is not one of those that is there where there's a green on it what are the real issues the ones we're republicans democrats could agree upon. i think they're probably just to a secure border and an orderly process for immigration of migration other than that you then get into very disparate positions on the issue because for some republicans it is about order and it's about safety it's about security for the

president whether it's and at apus complex or whatever but you have you have the president saying that it is about protecting america it's about protecting jobs and that scares the hell out of people in certain areas of the country when they're thinking these people are going to come in and take my job and that resonates with a lot of people the democrats they look to want to have open borders let me phrase it cause that's not right here they're looking to have more of a process that is going to be inclusive as opposed to open or not very different in any way and when you talk about border security the difference comes down comes down to how you secure the border the president wants this material he wants bricks and mortar or whatever it is steel. but why do you think he is so insistent upon this that when as we saw you know it creates so much do business with people he should be trying to work with and he part of it was using the wrong words at the

beginning when he started with the wall the wall optically sounds good but as we know building a three thousand mile wall isn't feasible and not necessary but by using that term he somewhat has boxed himself in he's got this campaign counterpart campaign promise which of course the mexico component is gone away member of mexico is going to pay for it but now it doesn't matter now for him this is about winning and losing and whatever happens that is going to impact his ability to win he's going to go to thin nail to try to make certain that he doesn't lose and right now it's all about perception and in the end my guess is that he will declare victory. no matter how this goes and the democrats will say it's a hollow victory and that's where we will be until january and we're going to start the whole process again i think you said the key thing whatever happens he will claim victory that's certainly correct john kavanagh thank you so much for being

with us appreciate your help. and that's it for this time thanks for being with us we sure appreciate it you could catch one bus on you tube dot com slash boom bust are to see a next time so long for now. that's geysers financial survival will they save money the balance the. budget is it this is a central plank support diatom is going to call them right now say stop the madness . prosecution will need to become almost. where you. just read you'll find. somebody to i mean. political pressure on the.

security industry knows what the punditry business models used by american corporations. to see to. see. the solution. to. the dissociation. as it is just somebody take. an investigative documentary. ghost war on oxy. the a. fair.