very economic forum. the main intrigue that had to do with russia and the us head of the international economic forum in st petersburg was whether american businessmen michael calvi was now under house arrest in russia. to st petersburg he'd been doing business in this country for years and always attended the forum until he was arrested on allegations of fraud mr kalvin is widely supported by the washington business community and elite and even the president's spokesperson dmitri peskov here said that the kremlin would like to see him out before him here in st petersburg but house arrest means house arrest and we didn't see mr calvery at the forum on day one now here's a cool thing the u.s. ambassador to russia decided to boycott the same petersburg forum because of mr

kalvin case and this was a clear signal from the u.s. government to the american business however the c.e.o. and top managers of companies like coca-cola google bowl winning. gold bull p. and g. are here and st petersburg so perhaps the signal didn't really work out the way the u.s. government wanted in the meantime guess who was the most senior international guest this former chinese leader xi jinping and his status as the number one best is definitely also a message that russia is sending out to the outside world and the times of trade wars his words that fly who is his closest friend how's that for a headline coming out of russia on the foreign week here's another headline for you embattled chinese tag. huawei has struck

a deal with russia to build the 1st ever 5 g. network in this country and we know that while we has been in turmoil since last month when donald trump banned american businesses from selling high tech equipment to the chinese tech giant that meant that while we users all over the world would stop getting google android updates well as you can see this didn't stop wall way from doing big business and signing a massive contract to develop 5 g. and the world's biggest country. the reserve bank of india has cut a key interest rate to its lowest level in 9 years the indian central bank cut the lending their lending rate for commercial banks known as the benchmark repo rate from 6 percent to 5.75 percent this is the 3rd cut in that rate this year and quickly follows the you know your asian prime minister narendra modi for

a 2nd term the r.b.i. governor shocked shocked econ to davos was appointed by mr modi in december 28th team mr das replaced the governor who alleged that mr modi infringed on the r.b.i. independence while the recent election was a major win for mr modi he is under pressure to revive india's economy which recently lost its title of the world's fastest made fastest growing major economy to china the latest figures show indian growth slowing to 5.8 percent in the 1st quarter of 2019 down from 6.6 percent in q 4 of 2018. the global pork market is taking a major hit as millions of pigs are cold journey but due to the swine fever epidemic experts say that it may take the market decades to recover as the virus continues to expand around the world are my hair that has. saw alex we have talked about this story just recently and now it seems that the spread of african swine fever may be worse than initially thought what can you tell us. this is

horrible some are calling it the biggest animal disease outbreak in this planet's history we're talking about millions of pigs affected the disease spreads very easily it could be spread in people's clothing clothes or could be spread in vehicles and it lasts for weeks so this thing can travel quite rapidly from place to place let's bring up a map here so you get an idea of how this disease has spread sort of off an africa a few years ago that made its way through europe we know that russia moldova romania poland even ireland are seeing signs of this disease that has made its way of course to asia where you have more pigs than anywhere else on the planet the african swine fever is also known as the pig a bullet so it just gives you an idea of the way it ravages these animals and now it's found in china vietnam cambodia magnolia. what i'm saying. mongolia and of course hong kong passing all the way and this is the fear that is going to go down to countries that are very pork heavy like the philippines

thailand which is already the 2nd biggest producer of pork in the world as well as my m.r. so this thing is just rapidly moving these countries are in fear the borders there's checkpoints everywhere now in asia they're trying to contain it and that they're saying that it could be anywhere between 2 and 20 years even longer for this disease to be contained it is absolutely ravaging the markets 2000000 pigs have a ready been called in vietnam alone so that gives you an idea of just how big this is. alex china is the world's biggest pork producer and consumer and it looks like they're getting hit pretty hard what's the what's the damage there think about it daniel $128000000000.00 industry for china alone and that's pork it's a massive part of their economy we're talking in the tune of 400000000 pigs and we're talking that possibly 200000000 of those might need to be cult. that's more

pigs than the u.s. and europe has combined so as you can imagine the biggest consumer and the brits producer of pork is getting hit hard they're already talking about 6 percent inflation just due to this crisis that they're having with pork itself you know 40 percent prices for live pigs that have jumped by 40 percent in the past year alone this thing only hit china last august so you can imagine how quickly and rapidly it is moving china's are ready relying now on pork imports from canada from brazil and from other countries such as the european union just basically to fill the gaps of the poor consumers and they're also bringing in more beef and chicken trying to fill those gaps people can't eat pork obviously the prices are going up and that's really troubling in that country. mar bad news that is very ironic considering it is the year of the pig and china is that upside to this seeming disaster at all. yeah the upside would be this people need to get used to the fact that you can't

put 400000000 animals together in these farms where you have 200000 pigs sitting on top of one and one another and that's how disease is created you fill in these animals full of antibiotics it's a cesspool so people have to step back we have to realize that the way that we need to farm house to be more sustainable which obviously means that we have to cut down on our consumption of meat to a certain degree so the upside is maybe there will be some sort of environmental push and a push for animal rights for something like this to change practices so that we can still eat things like pork but do it in a way that's not only better for the animals better for the earth but also better for us real problems with factory farming sounds like a correspondent alex mahela bitch thank you for your time thank you and you know we don't want to be alarmist about this but this is really a really remarkable outbreak you mention this quote that a lot of people have cited about the biggest animal disease outbreak ever on the planet from a epidemiologist in hong kong and the other half of that quote is it makes the foot

and mouth disease and breaks mad cow pale in comparison to the damage it is being done and we have no way to stop it from spreading i think that's the most alarming thing right now because we don't know how to stop this disease from raging out of control there is no vaccination there is no way to actually contain this especially since as alex mentioned like we humans we can be a carrier for this virus and we don't even know it so we could actually just be spreading it to further their populations by the virus humans can be a vector and the u.s.d.a. and other experts say it can be spread by ticks it's very hard to virus that can spread on vehicles or clothing this is a big story we're going to hear a lot more about this i'm sure. not to mention there is huge systemic effects because all of these pigs they actually rely on soybeans and all of the animal feed and everything like that so this actually had huge with passion for the agriculture . industry as well implications down market. time now for a quick break but hang here because when we return the u.s. has cuba and its cost has it yet again and the economic pain is being felt 90 miles to the north john column edge of the u.s.

cuba trade and economic council lend us a hand to see how crude stocks are fairing in the economic water and as we go to break here the numbers at the club. you know to go 2017 the german newspaper developed published an article claiming that the european union that last 30000000000 euros as a result of its very anti russian sanctions. particularly affected eastern europe many polish vamos went broke and even committed suicide. sometimes i'm

a cancer that goes obama get on with. on these if. you're going to. get us and then let's see in the in the polling this is the smith. who is it the man is a question that is crucial in libya and the one who needs to decide that is that it be. that is why we should carefully slowly going to actually illegally gouldman to elections today you have basically 2 parties so everybody laban's the

other the way he wants because that is instead a deep crisis of legitimacy and this crisis will finish in the mist it cannot be solved by going to be a. real welcome you should all walcha normal got called. a memory will know will show up on the open ocean you ocean cruise it. was a march. toward was to be with a boy in the. news new york city but i'm still a little coochie. to lead you to surround us you know so. much i wanted something.

new for the church for a horde in delhi i dealt with the fear of the local butcher to do this on. your own where one would you would clean sleepers the chest out a little bit your bullshit i would leave lucas i would shoot. the theory with the. life. out. there for ourselves. to save this before in the eighty's with the rise of japan and the us had a response they rejiggered the global currency markets that the plaza accord this was reagan and robert rubin the same people like amos to plan for. team after crash of 1000. so china doesn't seem to be wanting to play that game so they're going to have to come up with some other strategy that's the moment here.

google parent company alphabet announced thursday the acquisition of analytics startup looker for price of $2600000000.00 with the ambition of adding the company to google cloud google's cloud service is looking to make big gains in the space with the addition of looker as they have been locked in 3rd place behind amazon web c services and microsoft platform since us founding looker has raised more than $280000000.00 in funding and just 6 months ago saw their valuation at $1600000000.00 today's acquisition gave them a $1000000000.00 premium over their last round on the news alphabet stock has held

within one percent at the open but is still reeling from this week after the department of justice announced an antitrust investigation into the tech giant. as a block chain becomes more widely accepted could we soon see more traditional investors jumping ship to the nascent in tech are cheap produce our friendship or caught up with doormen at the consensus during new york week to talk about the role it may play in future investments he was 1st asked about how his company plans to play this idea. arco is a full service asset management firm focused on the digital token space and watching and we aim to give sophisticated in additional investors a place to gain exposure to disasters was what is the correlation between the traditional investment community and that of the crypto. vesna community i think right now a lot of the now in crypto investors are still in an exploration phase right now they're doing a lot of work on trying to figure out not only what this is and whether or not it fits in their portfolio but also who are the teams and the investment managers that

they can trust to help shepherd them into this new asset class so they're they're learning i'd say some are further along than others every time we have a meeting it's some level of some different level of sophistication in terms of what they want to talk about whether it's the individual investments or it's really just more high level but they are engaged in their learning and they're coming they're moving on pretty fast how are they concerned about the regulatory landscape right now when you see like here in the u.s. with what's going on with tokenization and it's kind of it's not exactly where not exactly an open to me like where you see in singapore hong kong sure i think honestly that's more of a crutch than a real concern in fact even some the other concerns you hear about a lot like custody and security for the most part all those things have been solved or it's not really on their mind i think the biggest thing on their mind right now is just understanding whether or not this actually fits in their portfolio whether or not they can understand how to value it whether or not they can understand that they're there whoever they're representing with their money actually knows that this is the safe is the right word but

a real investment that can actually earn returns over time so regulatory concerns are are usually more surface level but not necessarily like a real impediment to getting involved in the space and you know when we look at it how do the investors feel right now i mean big going to perfect example today in the crypto investment space because we had 20000 couple years ago and now we're at a low of around 2 now we're back up to nearly 8 if not over 8. this may err whatever it might be 9 today i don't know. so how do they feel about that i mean with that volatile how the volatility of that particular one of the main calling but also as an investor is the biggest amount of money to make that right i don't think is all and also it is not a bad word even when you talk. but investors who are very focused on a risk analytics in your sharp or a sure shorts you know ratio and other risk adjusted return metrics are not afraid of volatility they don't want to make sure that the returns compensates you for the level of volatility the level of risk that you are taking so they're used to

investing in plenty of other asset classes that are just as volatile even more volatile it's more understanding that there is an actual downside protection or that there is an investment manager who understands how to manage that risk and not give them that 80 or 90 percent drawdown type exposure that we saw last year so i don't think volatility is an impediment either i think it's more understanding how to manage that and understand that there are tools and real risk managers like myself out there who can help manage that for them and if i'm a traditional investor i don't really know much about crypto could you give me your elevator speech to explain why it is a good way for me to share i think the easiest way is probably the best way i've ever been explain to this is what the internet did for communication transfer transfer is exactly what block chain is doing for asset transfer so if you think about the fact that you can now send a 100 page document to asia in milliseconds or you can do a video chat with someone in europe pretty seamlessly that's that's now common ground that's common nature right but it's still very hard to send money or to send other assets or to even have a digital representation of some sort of asset so

a block chain can enable that acid transfer in the same way that the internet has enabled communication transfer that's a major problem solved in this world and the crypto currencies of the tokens that live on the block chain are needed to. instead of eyes and to help secure these blocks networks that allow for that as a transfer. more bad news for mexico as credit ratings agency fitch downgraded both the country's sovereign debt rating and growth outlook the peso fell in currency markets after fitch cut mexico's sovereign debt rating to be triple be perilously close to junk status fitch cited the recent terror threat from u.s. president donald trump in their revised rating and outlook on that front trump tweeted that the 1st day of talks between the u.s. vice pres. and mexican foreign minister had not produced a deal that would convince the president not to impose 5 percent tariffs on all mexican imports starting on monday june 10th perhaps even more concerning fitch

cited state oil company pemex as debt and deteriorating credit profile as well as ongoing weakness in the macro economic outlook for mexico. and the trump administration has imposed new restrictions on americans right to travel to cuba including the ban on the broadest category of travel and on cruise ships docking in cuba the cue to trump and ministration moves are just the latest step in a steady march to undo the obama administration's attempt to move past the cold war status quo here now to discuss more on this in detail is john catholic president of the us cuba trade and economic council thank you walking back john. and john could really ball 1st of all walk us through the the details of this latest rollback the ban on people to people trips and the limits on cruise ships. well the most important is that yesterday the trump administration told approximately 600000 u.s. citizens who had booked cruises for the remaining months of 2019 that they could no

longer go up until that date about 200000 visitors had used cruise ships to get to cuba what the trump administration did was there are 12 authorized categories of travel to cuba and one of them is educational and under that is what's called people do people and in the case of the cruise lines the cruise lines themselves would get the licenses and then the passengers would go to cuba under those licenses and so as of yesterday that's no more so just a quick follow up if you've got tickets already are there people who are stuck in the margins here that may have already booked travel if you are still interested what is the chances that that someone could still go to cuba after these policy changes. none of the cruise lines have all put out statements in terms of allowing customers to rebook cruises or cancel the cruise is one of

the challenges and which has made it easier for the trumpet ministration to do what it did was that when the cruise lines 1st began operating in 2016 they soley use cuba as a destination so people would get on the vessel in florida and they would go to cuba they would engage in activities and they would come home but slowly the cruise lines started to add destinations so cuba wasn't 100 percent it was 50 percent 25 percent and 20 percent well from the trumpet ministrations perspective they looked and said this. is tourism this isn't people to people this is an educational there were no meaningful interactions and so somewhat the cruise line set themselves up for what the trump administration did the good news for the travelers is that they're all going to be able to get their money back they're all going to be able to go on cruises but not to cuba to other countries the question now will be will

that number who was going to go to cuba on cruise ships will they in turn use the airlines and to give you some perspective the last 3 years u.s. carriers have taken over 2000000 passengers to cuba where the cruise lines have taken almost the same number so we may see some of those people shifting and using the airlines to go to cuba but now it'll be under what's called support for the cuban people which is a much more intensive type of licensing experience you truly need to were murderers selfie in cuba stay in a private residence eat at private residences the trump ministrations goal is to make a traveling to cuba for anyone other than a family member as unappealing as possible. so all of the economic status quo before this announcement in terms of overall number of visitors and how many from

the u.s. and their income. i'm sorry can you give me that again share like what was the economic status quo before all of this announcement in terms of the overall number of visitors going to cuba how many visitors we have in the u.s. press other country and like the income levels. the for the from cuba's perspective u.s. visitors to cuba last year were about. almost $4000000.00 and in terms of the economic impact it was rather substantial u.s. visitors are the single largest group of arrivals to cuba the cruise ship operations they drop about $100000000.00 port charges or another $20000000.00 so visitors to cuba have been an important role player in terms of supporting the private sector in cuba supporting the self-employed and absent of that chunk that $800000.00 visitors from the cruise ships that's going to put

a lot of pain with respect to the supporting the private sector which is what the trumpet ministration has said it's wanted to do so you know we have this conflict where the trump administration wants to deny the cuban government money but at the same time some of the money that's going into cuba is flowing directly to the cuban people excellent insight from john pavel the president of the u.s. cuba trade and economic council thanks for joining us. my pleasure. well robots and replace their job south korea is rapidly deploy automation and technology and various sectors apply including construction grocery stores tollgate collection shopping malls and the latest coffee and kaput. a robot baris that can brew 90 cuts an hour and about $300.00 cups in a day on a single charge of beans and supplies that is tremendous efficiency and also

reduces the cost of labor however there is a worrying side effect unemployment south korea currently has the highest density of industrial robots in the world at $710.00 robots per $10000.00 manufacturing workers the global average was only 8 by robots per every 10000 worries of job losses the government is still aiming to expand the robot market from 5.5 trillion one to 15 trillion won that's a 3 fold increase by 2023. well i think the real question here is can these robots read your name off the cuff and call your name when your orders are to leave they can and these robots are also are able to detect their voices as well so those that can detect voices so they already know your order because you've been there before they know you are an order they know your name they can detect accents they can speak in various languages so if you are not fluent in korean you can actually speak english and that robot will be able to create what exactly as you like it right and then in terms of the job losses. that come back i always heard of that as

well services change in this country we had a lot of g.m. dust realisation and people went into other services like food delivery and when people lose jobs in one sector the old will come up with other services that people will pay for. do you think that could happen. i mean it is possible but then there's also the worry that right now even drivers and those services white collar jobs are also being replaced such as now we have. driving cars and in fact recently even traders like white collar professional traders in the equity markets those are also being replaced by automated trading as well and robot traders a brave new world and. that's it for this time you can catch a boom bust on direct t.v. channel $321.00 dish network out to 80 or skimming 247 on foot a t.v. the t.v. channel $132.00 or as always hit us up at youtube dot com slash boom bust r t c next on.

the project was good if you give up on your book because you misses the people with . the suv cheaper suv. he's a murderer to be with. you you presume this. you must feel to him he used to.

continue going to jimbo mean even in the very least you kind of treat. your good. behavior as you move to you or your more you would almost be. the whole truth. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race. spearing dramatic development only mostly exists i don't see how that strategy will be successful very critical time to sit

down and talk. as a wise man once said currency wars lead to trade wars more currency wars that's been going on now for 10 years 15 years or like. china you know they artificially keep their currency low export their way into becoming a large economy and now this is led to trade. now pretty much declaring secession from the global economy as we go to neo mercantile ism days of globalization and lot of tourism dollars ation is over and you know look at the globe we've got a few little hot spots there the encroaching hot war scenario is upon us. what politicians do. they put themselves on the line they get accepted or rejected

. so when you want to be president i'm sure. some will want to press. you to the right to press the saliva for free in the morning can't be good for. i'm interested always in the waters in the how. question. this in 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 vital issues. what ya special forum coverage on naughty.