thank you. very well might continue watching on since last. this is broadcasting around the globe and covering the world of business and finance and the impact upon us all the i mean are there your bluto today on the program the transpacific tariff total takes another turn as china and the u.s. continue to trade blows yet again professor richard wolfe and john welsh of the university of miami or on hand to sort through several splits in global trading

planets in the wake of big coins balrog what can we expect from the point that there taylor letterman a simpler training helped us comb through the cryptocurrency price catapult you have a big shelf plan for today's alleged dive right in. a legal counterattack leaves our global report today as a presses a challenge to the defacto ban on u.s. companies doing business with way the chinese tech giant has now filed a request for summary judgment in a suit they originally filed in march the suit originally challenge a provision of the national defense authorization act that specifically bans huawei and companies from doing business with government agencies in the meantime president trump has signed an executive order that sets out a general criteria for exclusion but does not single out china or huawei nonetheless it still works as an effective ban on its products legal analyst now say that while ways push for a quick resolution is one way to avoid discovery in the suit and keep corporate

trade secrets out of the public record but huawei argues it's to get the company a chance to present its arguments publicly in just a few months rather than wait while business suffers chief legal officer said these actions mark a troubling new pattern of the u.s. is power and sets a dangerous precedent he said to. if telethons out way tomorrow it could be your industry your company your consumers. and now for a more in-depth dive were happening happy to welcome john quelch the dean of miami university's business school and richard wolffe professor of economic emeritus at the university of managed to massachusetts amherst and the author of democracy at work a cure for capitalism welcome to you both professor quelch you're the our new guest 1st to you what are the prospects for a while way in this court's push here suing to overturn a de facto ban on u.s. companies doing business with wall way citing constitutional grounds how will they

do in court on this. it's a calculated risk on the one hand while where he needs to get out the information to the public that there's really been no security breach that has been publicly revealed by the u.s. authorities on the other hand in the court it's likely that the u.s. government will argue that it needs a discovery process to reveal the technology and business practices of wall way in order to better make its case so it's a calculated risk i would say that given that we're talking about a summary judgment against an executive order of the from the white house that essentially when talking about pretty low chances for a while way but in the court of public opinion this legal approach is a very important part of the process for walk away and they alluded to

a lot of the reporting alluded to getting past this discovery process as part of the benefit of filing this motion what could happen how could a discovery go wrong for a while way. well of course it can be a very substantial fishing expedition and one doesn't know for sure want. the u.s. government has that has not yet been publicly revealed if weiwei is confident there is no evidence of security breaches or data transmission from u.s. computers back to. china then huawei should feel confident in making this proceeding but discovery can be a very dangerous thing and i'm sure the u.s. government's lawyers will do everything they can given that process to reveal all

sorts of details about ways technologies and business practices that wall way may not like to have revealed some professor wolf i love for you doubt weigh in on this so right now as we know discovery is a very important part of the process but the u.s. decided to implement its ban before there was actually any evidence in this instance they're acting as the judge chair an execution are all in one and now they have actually have to work to produce some discovery so what's your take on that. well my guess is that with the proper public relations surrounding what the government does the united states with the complicity of the mass media with a few exceptions taking the side of the united states government which they've done already i would guess that they can make something even if there's very little there let me caution everyone to understand if you wanted to demonstrate at least

circumstantially that there was some kind of relationship between huawei and the chinese government you could probably do that the reason i know that is it would be childishly easy to do exactly the same thing for google for apple and for every other major american telecommunication. company that has very cozy relationships with the drill intelligence agency with the united states government this is a must see act rick of pressuring one another the concrete realities are murky and they would be on the other side if it weren't for the public relations tilting one way or the other depending on which country it's happening. so professor will stay on the special thing or to business side of it while executives told the financial times of london that $1200.00 u.s. suppliers will lose business and the band goes into effect in mid august how vulnerable are those companies to a loss of demand from holloway and could we see those companies come on stage as

opponents of the ban. yes my guess is that the number of them are very dependent on wild way it varies from company to company depending on their history and their technology but yes some of them are going to be hurt and my guess is that we don't have to wait they have already in some instances we know that let the government know that this is not good for their business this is not good for their long run relationships look this is very serious what the rest of the world is being shown is that the american government for whatever the political interests are of the current president are willing to interfere in specific relationships among companies it means every company on earth has a new risk in dealing with any american company and that's going to be bad for the american economy for years into the future that's the most serious aspect of all of

this and back to professor quelch we've touched on this issue before with professor wolf but there are big opportunities for some of the smaller players on the edges of the spite between the u.s. and china vietnamese exports to the u.s. reportedly rose 40 percent in the 1st quarter of 2019 that puts vietnam on track to displace the u.k. as the number 7 top exporter to the u.s. market similarly south korean exports to the u.s. increased by 18 percent in the 1st quarter of this year professor how far could this trend go of a spillover effect of regional suppliers picking up the slack from china or from the u.s. for that matter. well as professor wolf said it varies from company to company and i think we have to distinguish between low technology products where supply chains can be relatively quickly and easily rearranged visa vi high technology products

such as some of the components that. way has been sourcing from qualcomm broadcom and other u.s. suppliers these types of high tech products cannot be easily shifted in terms of them manufacturing to to other companies in other countries and that of course applies in both directions that applies with respect to chinese sourcing all of us components and it also applies to us sourcing of technology chinese components so there is a necessary and necessary problem arising here for both sides there are both they have both loses in this and this tariff war and the on necessary rearranging of supply chains in order to accommodate the

tariff regime is probably a disruptive negative from a business point of view it suddenly not a positive and i want to ask both of you about an action that did not take place the u.s. notably left china off of the list of fish really accused currency manipulators despite that issue being a repeatedly raised grievance from president trump no countries are officially listed but china is on a watch list noted alongside vietnam and u.s. allies including south korea and germany what's the takeaway here with the u.s. apparently being reluctant to press the case on an issue that is supposedly so important professor wolf take that 1st. sure i'd be glad to i think what you're seeing here are 2 things one there is a struggle inside the among the advisors of mr trump mr i'm a newton who comes from wall street and goldman sachs is very concerned that this trade war not spill out of control he really does reflect more of the globalized

capitalist system he doesn't want this on the other hand you have the more govern the whole tides that are also around drum who would like to do it and they one side wins and then the other side wins so they whacked china with a tower f. but they don't go after them on the currency operation you see this back and forth because this is a political theater that has spun kind of out of control and threatens to go more out of control so the positions are hardening and you will not you will not miss a number of these kinds of contradictions where they're going in one direction on the one hand and the other direction on the other until they decide which way to go and this is a dangerous game. professor if i can just add to yes if i can just add to professor wolf on this the the currency manipulation issue is coming

out of the u.s. treasury there are 9 countries that have been placed on the so-called watch list and they include allies of the united states such as singapore and germany they include almost any country that has a significant and sustained trade surplus with the united states i think that the u.s. treasury is being restrained in its approach and is trying to take a more collaborative approach to these negotiations they do by keeping china or off of the manipulation list and keeping it on the watch list they do risk retain the option of later escalating china to currency manipulation status if they so wish so to some extent they keeping their options open at this stage. thank you so much for that professor richard walt and john quality of the

game business program at the university of miami thank you both very much for your time. thank you. germany's unemployment rate has increased for the 1st time in 2 years with $60000.00 more germans going jobless this month the official german german jobless rate for may now shows a 10th of the point increase to a flat 5 percent that unemployment rate is now just barely above a record low for post unification germany and still remains very low by international standards additionally the federal labor agency says 2 thirds of the increase is due to met the logic. a logical changes in the study but the direction of the trend may still be sufficient to shake up german politics many analysts had been expecting the cumulative burden of the u.s. china trade war and brags that to eventually exert some drag on the german economy the official german economic forecast for this year predicts growth of just point 5 percent and 2019. time now for a quick break here because when we return in the way the ball right why coming back

from the. trading helps us come through the cut the current. and as we get a break here the numbers that. all across europe voters put the elites on notice the status quo is not working for the people the surge to the right in the price of. a game changer.

petersburg international economic forum is a unique event in today's business world. over the last 21 years the forum has become a leading global platform for discussing the key economic issues facing russia emerging markets and the world thousands of business community members attend the forum to address today's and vital issues. special forum coverage on r.t. .

welcome back turning to venice well a new economic new official economic figures are available for the 1st time in a long time and the picture doesn't look good the venezuelan central bank has published its 1st updates since 2015 and they show rampant inflation and a shrinking g.d.p. the official figures show 2017 inflation at a remarkable 862 percent while in 2018 inflation shot up to a staggering 130000 persons the international monetary fund has assume a venezuelan inflation in 2019 at 1000000 percent the figures also show venezuelan g.d.p. in the 3rd quarter of 2018 falling by 22 percent compared to q $32017.00 unlike

the official inflation figures the official g.d.p. estimates are roughly in line with those of the i.m.f. venezuela is critical oil sector was both an example and a driver of the economic decline with oil sector activity falling by 25.8 percent year over year from q 3 of 2017 after a 15 percent year over year fall in 2017. and chinese on line shopping giant ali baba is making a big play of our cloud computing market share in brazil the alibaba group has announced that alibaba cloud while part. or with brazilian tech firms oh well to vo to market its cloud services in south africa's largest economy interestingly the c.e.o. of us told reporters that ali baba's move into the brazilian market was precipitated by a request from an unnamed company that is also planning to move into brazil ali baba has a strong position in asian cloud computing in south america alibaba will have to elbow

out familiar rivals including amazon google and microsoft for market share. big point is still consolidating after its run up and 10000 looks like it's just within reach but let's turn over to all coins for a moment all season just started back in march when we saw bitcoin dominance fall to an 8 month low of 50.5 percent from there we saw a lot of the cheaper all coins get picked up some of them are 80 to 90 percent off their all time highs and traders felt that they've essentially bottomed out now there's a really big difference between bottom and me out and slow bleeding the all coins have bottomed out still have projects that were supposed to that were supported and they had merit in the entire ecosystem the bleeders are the ones that die a slow death since march we've witnessed many of these promising all points make a spectacular recovery over 20 of these coins doubled in value and some nearly 8 times in the last quarter joining us now to talk more about trying to scale the

letter many analysts as somebody trading so taylor we've seen a tremendous run up in some of these all points and i mean finance going b. and b. has been unstoppable nearly doubling since the start of the year they've now secure the 7th place in the overall market cap when last year they were number 20 what contributed to this. many factors that contribute mainly in the most evident one is going to be the. initial exchange offering. what we saw all 27 these initial cooling offerings but now they're really some exchanges makes it easier for customers to trust who they're buying those coins from. and the main thing with this by now it's achieving those high levels and the 1st coined in a while to reach all time highs in u.s. dollars at least since the $27.00 bull run by nancy coyne has been the main source of funding for these i initially exchange offerings once again are being launched on by its platform and customers are than able to in their being betokens to

purchase these initial exchange tokens which have been performing quite well so these coins are going up 3 percent similar to what we saw with i.c.a.o. current on exchanges and b. and b. the token behind the need a token on by nantz is going to be a one. user you can be investing with and so that's been driving being these prices the demand for being b. is going up because the demand for these ideas are going up. we have many other reasons as well as there are they launched their own. which they can now incentivize coins to come utilize their network and they've been teasing leverage trading on their platform which is growing more bring in more users and potentially will be launching fairly soon a lot of exciting things happening from finance including their decentralized exchange as well but then on the flip side you have some of these all points that are just 8 totally dumb so remember how craig wright tried to copyright the white paper and claim that he was the founder of decline that kind of b.s. me up 120 percent now i actually thought those games weren't going to hold up but

apparently it still did today b.s.p. is up again another 50 percent on fake news tell us more on that. yes i think it's what we call pump and scheme so someone pumps up the coin by pumping up the fundamentals of the kind of hype around it so tweeting out a tweet about some official announcement that's kind of what we saw with this money was moving from the original big coin wallet. to toshack moto was supposedly the owner of but that wall wasn't touched so what will happen is somebody just generate this fake news and that pump up the price i think what's happening with being being wired me maintain those prices like you mentioned is because it's been delisted for many of the larger exchanges so when a coin gets the listed some of the smaller exchanges will keep it but there's a lot less liquidity so there's a lot less purchasing going on at that point we're not seeing a lot of people buying and selling it on major changes because it's no longer able to do so and so i think it's easier for the whole price up and those large what we

call wells or someone that owns a lot of the coin on a smaller exchange can simply manipulate the market easily. and taylor dominance is much higher now at about 55 percent but where are we now in the season in all season is there another cycle following the latest run that we've seen in bitcoin. yeah i definitely think one is coming up but we saw one initial part of the year up until april when many of the all to begin reversing some of the gains they had early in the year what we've seen now is dominance topped out about 60 percent recently and so is now a drop down to around 56 percent 5556 percent currently and so i think we approach the lower fifty's close around 50 percent is when we're seeing some of the also pick up i think we're already starting to see some early signs of that like you mention that because that 55 percent right now so and then volume is also increasing across the entire market not just in big coins so we're starting to see some accumulation those old coins and we're starting to see some even higher lows put in so we have a lower low in the higher lower music cumulation is holding

a holding pick up pace so i think we'll start seeing another all the cycle maybe a smaller one than we saw previously because big wins twain with the. very important level psychological resistance around 10000 and so is this all begin to pick up in the steam we may have a little window coming up and one other specific alter whipple is one of christie's favorites they have been shrugging off attacks left and right from competitors both j.p. m. calling and facebook's calling have been supposedly the ripple killer but ripple still has a big head start on them does ripple have anything to watch out for with these new competitors. maybe not facebook's coin global coin that they spoke recently announced i don't think it will have any real impact on ripple but the g.p.m. coin may have sort of. pull some of the table market the ripple would have otherwise simply does a lot of transactions right trillions of dollars worth and they're going to 6 simply trying to compete with swift and kind of the monopolist ties swift at the

same time there's still some competing factors and we haven't really seen this much of the technicals around the point of how it can be utilized but primarily it's going to be and it's between bank to bank transactions globally kind of reduce those fees which is what is the main use case and so as we see j.p. and cohen go into effect i think it could be a lot of competition amongst the banks to see which one before is better but i think ripple still is going to remain top dog i think for the short term at least we'll see you right up to you know what about global climate we have that facebook is actually going to be testing them in india sometime soon and on that. i think that's great and so global coin relative to the home is going to be more between user to user so is going to exist within that the facebook ecosystem whether it's users in the transaction sort of like a pay pal between each other or if it's going to function as a way to then money via ads of buying ads or even paying users to watch ads there's

many ways they can actually implement a global point is that ecosystem i think it's fantastic you need big adoption so everyone's very familiar with the apples facebook's microsoft and so each of these large corporations adopting provoker of the i think is going to kind of sweep provoker these up higher into the limelight and adoption will pick up a lot faster exciting times taylor letterman kept a currency analyst at some point today thank you so much. and finally as the trade war rages on between the worlds through largest economies the fight has now spilled over onto television that's right on wednesday night trish regan of fox news president charles favorite network will be debating lucian the host of the point with lucian chinese state network c g t n the spat began when ms regan began by slamming alleged intellectual property theft by the chinese

government to mitch lew to which ms lewis spawn did with this. is not referring to china but the home where combined the dia trish props you need a better. well this escalated to ms regan calling for the debate on twitter which ms lu accepted while christie you know this is great that we know even in a time when we're having fights at the governmental level that a state broadcaster from the united states can have a debate with a state broadcaster from china i doubt that we're actually very eager this entire clip absolutely but it got like 200000 hits over the past weekend so i'm sure everybody's going to turn into that yacht while you know maybe we can have more of these things happen here in the united states more networks more u.s. networks having for better or for worse having a debate each other that's it for this time you can catch boom bust on direct t.v. channel 321 dish network channel 280 or streaming 247 on pluto t.v. the free t.v.

channel 132 are as always had a sound that you. are taking the next time. facebook and google started with a great idea and great ideals unfortunately there was also a very dark side. they are constructing a profile of you and that profile is real it's detailed and it never goes away turns out that google is manipulating your opinions from the very 1st character that you type into the search bar it will always favor one dog food over another

one comparative shopping service over another and one candidate over another they can suppress certain types of results deiced on what they think you should be seen if they have this kind of power then democracy is an illusion the free and fair election besan exist for the more growth we give them the sooner we are all. but never be peace unless there will be a bias in state there will never be a rise in the fall of the state of israel the palestinian state only those that hope the moderates countries who somehow call rate we something that the lakes the basic they read of a 2 state solution is a mistake and none of the countries will come forward unless there will be a proposed solution on the basis of 2 states.

this footage is unique because there's a tribal lens on normally off limits to the public eric's allowed in because he's the so is personal don't. people here know him simply as don't to. eric he's rich famous some always on the move sailing yachts and flying aircraft that. he's considered one of the best neurosurgeons in brazil. that's happening. are you so soon. going to busy doing math is going to do the population because he's going to take people on his own.

u.s. special counsel robert muller ends his silence on the trump russia probe offering some clarification on the report's conclusions his statement has drawn a familiar reaction you speak to impeachment question at this point all options are on the table and nothing should be ruled out and all of those things have been determined to not have taken place collusion conspiracy obstruction and again we consider this very much to be case closed or. the venezuelan opposition agrees to hold talks with president maduro on neutral territory in norway. and israel said for an election rerun for the 1st time in its history after prime minister benjamin netanyahu fails to form a governing call it.