to have a conversation with the minister in september and i wasn't the only journalist by far who was asking mr rushton about the russian currency but today the ruble is about six percent weaker than you predicted back then so what is going wrong with the forecasts. well the first of course the thing that is impacting the russian currency that you all come when you see equanimous across the globe is the fact that the oil prices declined substantially minima talking with you in september as far as i remember the oil price was i don't. know it's if you look at the price it's fifty five so it's you know dramatic change here and we have that in the same period of time soon september robel has appreciated at that point of time when we were talking to you we see you in the global was trading against you is the as far as i remember it was above seventy year. old now we have sixty six sixty

seven with a. little bit of volatility here a little bit of what you there but once again you spite sharp decline in oil prices chris appreciate that so still there are no reasons to change the forecasts well once again we have created. a broad set of market economy institutes that a working lead to be true to work and this is the key reason behind the long term stability of the national currency and this is the big difference competing with what we have brought it to do and. i understand that you don't like talking about these kind of things perhaps as officials and people who are in charge of the economy but my first question was psychological so to say so i just wanted to ask you

a few at some point realize that the ruble is in real trouble will you ever come out and say stay away from it to the journalists and the public will you dare to do that i believe was spending too much time discussing the issue of the currency it's not that important anymore what we should do. talk more about it's actually the structural changes which are happening in the real economy industries which are doing industries which have been how the services sector how the digitalisation process going on this is what really important in the you know the future of the financial markets we should know switch from the. talks about what's happening. in the constitution doesn't the longer term situation towards the factors which a key for the. we will definitely move on to that but can you please answer that question specifically will you be able to do that well first of all where we have the central bank who's in charge of the fix market and the central bank has

highlighted that we have switched to a do for you for wishing room and as far as i know they did not plan to change anything the u.s. china trade war has and hasn't begun at the same time as we found out after the meeting of president trump and mr xi jinping in point of this so how likely is it that at some point we'll realize that the drums of the trade war were fake possibly or the current leaders of these two countries are just good negotiators well they're not fake because if you look at the figures you will see a substantial lead sheets year in the void himself exports from the united states to train or from the united states if you look at the then the mix of the chinese economy you will see that there is and the impact of that story on the chain and that means that there is a big impact on the global economy which is doing much worse the computing is what

it was performing in doing just seventeen or even the beginning of this year so we definitely see. results real negative results for what was usually just talks but as leaders in. so it's collated trade barriers and that we can already visible negative impact on gross and on trade but these ninety days is this just a delay or it's an actual achievement will because if no it's actually it's achievement because. now two sides are at the table and they discussing the treat affiliations between the two countries but. i believe that the overall negative impact will be present because starting that well it's like this it dissolves. you know raising unpredictability of what will be happening in the

future because in one thousand b.c. you know that we're talking about the largest the quantum is global and you hear a lot of. supply chains that connects those two companies a lot of in the west means that i meet with him that was to cut this and we are talking about just ninety days and it's not clear what will be happening after those ninety days so of course it would be a dramatic impact on the predictability with the economic agents for the companies which are working in both of the corners so that is you know in which we live and this is the elites here. which is already negative impact on the global economic situation so the world's two strongest economies have shown the importance of compromise can russia do a better job when it comes to compromises during trade and economic and still well

if you look at the actual statistics. you will see that russian experts trait to know or to know or. all this explaining in the past couple of here is so that means that we are doing pretty good job and we have plans in dipping integration of russia into the global economy deepening treat investment. overall economic relations with a lot of conflicts that cause the globe and you have many politicians across the globe who are against this as far as i understand because new sanctions are looming and the old saying actions are being extended. each we look on the situation where we can then make relations with europe for example you will find you know you can look at the political state there's a lot of talks a lot of buzz sanctions. but if you look at the figures you will find out that in

the past two years they've treated over between russia and europe was growing double digit twenty three percent last year twenty one percent is what we are witnessing this year the tourist flows between the qataris is also running double duty and. if you look at the investment you will find out that russia was european guy that is are involved in a number of large skeel medium scale small scale but if you look at the large scale you play in the atomic uclear plants construction in hungary in finland you will see in those three mm projects going on you will see. growing competition at the border between the russian and the european union you will see of course cooperation and support from russia in the current plan of increasing the it all. which was recently introduced by the euro commission so we.

it is because i'm a patients where we can't really put it presents let's wait. some time and go away start to talk about the reasons in the economic relief and so we see that we can between the russia and the european union so what we need to do going forward we need to concentrate on the me we have concentrate on those projects we. put into your russian with a repeal you know that is. projects. in create in the vase months in joint work you know technological and a lot of this and of course. we listen to just the noise and bustle of the political. but if you go a little with some of the small companies which are most important for the quantum of the whole european union are. the initiating the noise and we

should be lists attention to that and the more attention to the real you've got the mic projects well i think there's also some noise coming from the bigger countries too and the political figures there are making important decisions come across these words of yours renee saw and see in russia. are you sure we are there and renascence is the right word for you know that in the past couple of pics that was in portugal i was in france what was keeping. the cheering in the go until commission between russia and those two contests and there was only just question of joint projects it can do together so i don't know what kind of contest you mentioned when you are asking that question well i'm talking about the statements from senior political figures are saying which one. major powerhouses of

europe and their leaders like ms merkel like mr macron i know the u.k.'s leaving the but i was there i was talking about continued pressure i was in russia i was in france last week and when we together. but ignored him it was the head of the ministry of finance and of course the new france were giving the statement to the press after the meeting he was waiting publicly that france will support such a joint project. particular and reports that because of the beacon of all died in the first project human level injury that the government will provide additional guarantees support for those projects and so on so forth doesn't send a strong enough message to the people at the very top. i don't know i don't know but once again we are concentrating on the real economic projects that unite and fight the companies and those projects. boise if war people of people

a few were up and the number of projects which we can go even in the coming years is tremendous so my view can you please name a couple. i would love to go into the details if you pick any country portugal spain france germany italy all of the major equipments which are important or they would be new and you will see that there is growing relations between russia and those businesses from those con that is rushing these innovating in those countries and those kind of a thing in the russia where trade more girls and treat is that would you should so i believe that from this point of view should concentrate on the economic agenda and this is the most important thing as ordinary europeans and there are many of those among our viewers can you name some specific things that they could be happy about or could be looking forward to when it comes to russia's involvement and what

do you want to give them what exactly we have in many viewers in europe and you are saying that europe needs to be happy about some of the business that you are door and or looking forward to taking with them just plain numbers the growth exports from the european companies to russia have increased more than eight percent. during the past couple of years what does this mean it means that a lot of new drops were created in different industries in europe of course it's not a negative culture because the sanctions story count the sections thought it would remain in place but there is a number of industries which benefit from increasing. sales of those goods which are produced in those companies to russian so this is the jumps this is the wages this is. what is really important for people in all the european companies to be him.

i've been saying the numbers. they matter the u.s. has over one trillion dollars in debt more than ten times happy each day. eighty five percent of global wealth you want to be rich eight point six percent market saw thirty percent year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china is building a two point one billion dollar ai industrial park but don't let the numbers overwhelm. the only numbers you need to remember is one one does not show you can't afford to miss the one and only.

little. think. i'll tell. you no it's not a must. some of russia's closer partners love talking about the idea of trying to somehow move away from international trade in u.s. dollars and also they're talking about ways to dodge american sanctions. but i want to stay with the europe a bit more what do you think about their success and the progress in creating what

they once announced as a special payment system to bypass american sanctions when it comes to trade with iran what you just have mentioned it's not what russia is talking about it's what europe was talking about europe was talking about the. process shifting towards more and more important you are in the global economy europe is looking about how to avoid the u.s. sanctions which impact european businesses so it's not that there was that emerging in russia it's talks and assessment of the current situation from europe and of course we're really in radio to work and we work on different projects with all european partners because we believe that the u.s. sanctions is not the boat put it it's about equipment it's about hurting economic.

and businesses economies and businesses in the europe it's would creating in the vitamin reach us companies will we could be against european companies so that there's a boy europe is starting to understand that this is what is really hurting you've got them in development of europe and it's starting to working against it and of course we believe that this is a positive story also for russia and we will get to work with i will european partners but isn't an assessment of their progress a good example of whether there is potential in that kind of switching to other currencies and attempts to ditch the dollar so to say well there is a positive trend already if you look at the statistics you'll find that the principal for russia the share of the dollar in the trade is declining. progress with different countries with our neighbors we sturrock he was you will everywhere

we see a declining dollar in terms of currency that sort of the trade. of course that are big issues like for example commodity markets changing situation here and changing the trading from the listen to euros will you know substantially decrease the shale dollars i believe that is one of the areas where we should work together because you know russia is not of the look on. europe is not you know countries but for somebody in the web creating an injury sources indoors so i believe that we should think about switching at least two euro and the car to see which is more common for russians and well the europeans mr ashton your government body is called the ministry of economic development what or who is the greatest enemy of the economic development in russia inside the country and outside the country will

. if you look once again on you know just from the statistics you'll find that with the do more with a few is one of the key challenges because of the those transferred to a form to ninety's of the previous century and the heating of the economy and we have limited. supply of new labor coming into market so. solving the world's. interest will of course will be first of all heart and it will be a long lasting effect the fall of a new meter that is implemented in this area so this is one of the factors which is substantially missing the good old story the second story is of course all the factors that limiting investment that teach you all the barriers that administrative barriers that we hear all the appreciation in different markets. a little of can be he supports

a lot of stories regulation which is not for supporting us in some way in the street investment activity so all those things are limiting investment activity and thus once again limited government goals so on solving those issues so we are concentrating these days and outside come out say it i believe that. trade wars as they are impacting the global economy and development is of course another good story not only for russia but a new. economy even for the united states this is will be eventually having negative impact on the economy through high inflation through high pressure it will freights a federal reserve which will be forced to react to such and such a trend in the in the inflation then they mix so these to believe the global trading system is one of the key and they get you from bets on the global agenda

and the second one is of course ongoing the slowdown. of the global economy duty fundamental reasons i mean and of the united states and the europe structural slowdown. in china and blow all blow up of the unsustainable growth models in countries like. and turkey. mr rushton how has your ministry coped with the task of becoming the ministry of the future this is the definition that we heard from you once well it's pretty simple we need to make decisions now which will impact the future of the country so when you propose ideas and you know music that will be having a long lasting impact so we're in the way if you're in the. business we're looking at what will be happening within two years three years five years from now

and what about the idea of russia's national export strategy on the website of your ministry it's been saying since twenty thirteen that this strategy is being redeveloped will then use once again this thirty six you will find out that in the past five years the russia is expanding number of creators wades becoming completely define the global scale for example a coach explodes and we can both twenty billion potato chips pretty year it's the latest levels export of services which you saw increasing substantially in. your will and so on so forth so. the actual result in the in the data which is which shows that involvement of the global economy is increasing we've williams of flex points. is expanding so agriculture you know industrial production services you know all of those heroes we came up with if you can that

acts by looking at your own trips can we make any judgments of geographical priorities in washington economy you've just come back from japan for example well i mean personally i mean church better clean share all their relations with a number of companies japan is one of them i'm a special representative of the president with the trade really. with japan we together with i would you please cut x. doing my belief a pretty good job in terms of having economic relations between russia and japan that was the plan that was introduced by prime minister sixteen there was a directions we started to work. under that plan and we have. ongoing progress here like i've said if you look at the data trade to know where for example with japan they have increased by almost twenty percent this year completing was post here for

a new investments. has just entered through the japanese financial markets so once again we had a deepening integration and. it was the whole global economy of course with each but you can look around you and with each country we can find those projects which use beneficial for russia and for that company any other destinations that you can update us on you just name it and they will tell you what's what's happening there we strain. to exceed one hundred ten ten being in the the in the joint to nowhere. from which you know there was a team that went to france and usually had them to tokyo so there were two discussions on monday and tuesday and like i mentioned we have a already pushed of discussion on those investments which french companies are making in the russian and then just sector in such a large projects as article injury or you know across the fighting that we had

a breeding breakfast and once again with my counterparts but in the earlier matter and i believe that there was that on. really a large french company at the c o two percent of the level and that is causing the opportunities not only in this additional areas such as climate change and then. some innovations in the new. this year has been a complete disaster for cryptocurrency mr rush please say ten if you completely agree with that assessment or widen if you totally disagree numbers between one and ten are welcome to at the end of the last year there was a lot of talks about the cryptic i see is the good going as far as i remember was a teaching of the levels of twenty thousand people on their own quinn. at that point of time the person i was collecting that this is the bubble it will explode and because they didn't problem was that

a large number for you many people were involved in that in the bubble and they suffered from it so what we see as a now is that. the bubble you see appears you know the price collapsed several times but what is good that that story has affected a lot of attention to new technologies have allowed what a lot of companies to attract investment in those new technologies and eventually will we see you know from that effect will we see a police chief impact in terms of new technology for different types. of activities for example this year we have introduced book change acknowledged here too you know real estate deals in one of the russian region so we've implemented that the project and it works pretty well so once again at tension that was attracted by the bubble like for example there's a bubble that we witnessed in the late ninety's to the communications you know at

that point of time it was a bubble it attracted a lot of attention and a lot of investments and now you know if we surely using the results of that investment that happened at that point up there so this is the same story it's of course has a negative impact especially if we look at the situation of the particular. you know. persons which are up in the west that. into the into that bubble of twenty fails whether that them with impact from bringing more attention to a new technology and bringing more this was the new technology innovations so you won't give me a number from one to ten. and finally do you have a new year's wish and do you have anything to promise the russians ahead of this new year will promise from i say that we will be working as hard as they are working for the past couple of years trying to do my best to make the life of well

unit russians better and they hope that the global situation will be helping and that you know the real problem which is what we are facing in the body ticks in the corn these globally is that belief in the buzz of the kids have increased substantially abilities each from within this is sadie's between the this and i hope that that politicization tramp will reverse and agree that is that improving thinks and you know moving towards a better future for the humane and that wish for yourself. only luck thank you very much mr ashton we really appreciate your time thank you. i had a great education a good job and

a family that loved me. to worry about how i would eat and where i would sleep. but i'm facing christmas alone on the streets of london. and still give up for the hope. that you don't really feel like. and then. the guy just came over to me saw me and gave me a change of this book to. join me every so straight on the alec simon show and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.

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