casting around the world and covering the 21st century global economy i'm daniel bruno in washington christine is on assignment in singapore we've got another special show on deck for you today 1st big task has found itself in the crosshairs of regulators on both sides of the atlantic and one prominent regulator has been given and told in europe all u.s. states turn up the heat. boy sometimes between address and business practices in the legal world usually the line is very clear and again our investigation will determine whether google has crossed. out a mesh of the ad a mesh trading group is on hand today to break what the break down what the future good be for today's tech giants as regulators wake from their slumber last. week as head of markets they're going to continue to have markets until the end of time and before. we've got more great content from kristie i in singapore today bringing you this 2nd part of our interview with world renowned international investor jim

rogers this time we'll get his take on the global trade war and the future of the globalized economy all that the latest economic data points from china and the launch of amazon prime in brazil once again managed to fit all the important economic news of the day into 127 minute broadcast we got to keep it moving let's go. a surprising return for a major antitrust regulator at a time of increasing scrutiny for big tac leads our global report today as margret of the us together is nominated for a 2nd 5 year term as competition commissioner of the european union the incoming president of the european commission ursula bonn laden bonder laden has also slated to go for a new role as one of the 3 executive vice presidents of the commission allowing ms massacre to consolidate and expand her considerable influence over antitrust regulation most specifically technology ms besser has previously taken on the tech titans mostly us based that dominate our wine. world the returning competition

competition commissioner previously tangled with apple and forced ireland to claim $15000000000.00 in taxes to recoup overly generous tax breaks to apple that ran afoul of e.u. rules and its vested are also has imposed fines of nearly $10000000000.00 against google's parent corporation alphabet her record of accomplishment at a time of growing global scrutiny a big tech may have won her a reheard renewed and enhanced role but that same record suggests she may soon openly clash with the trumpet ministration in the us which has pushed back hard on her efforts to rein in the industry giants. and here to help us dig into the future of big tech on both sides of the atlantic plus so much more is out a message the c.e.o. of the at a mess trading group adam welcome back to the show. thanks so much the pleasure to be here now adam 1st when you heard the news that margaret of us together was returning with this enhanced role it was reported as as

a surprise to most people were you surprise and what were your 1st thoughts on stock price affects from this news. so the 1st thing i do is i checked the stock prices other than facebook being down a little bit that didn't have much of an empath i read someone say it's better to fight the dragon that you know but she has not been easy on tech companies so i think if i was one of these tech companies and i saw the news i below disappointed that she was there because i felt like there was only upside for somebody else and they're going to remain under fire and speaking of that fire here in the u.s. we saw the heat on big tax increase significantly today after announcement last week from the attorney general of new york and 7 other states a probe into anti-competitive practices by facebook on friday last week the new york attorney general leticia james said we will use every investigative tool at our. rosell to determine whether facebook's actions may have endangered consumer

data reduce the quality of consumers' choices or increase the price of advertising now on tuesday another group of a.g.'s from 48 states puerto rico and the district of columbia are launching an antitrust investigation of google california alabama were the notable holdout states on that action but adam this seems like a very rich area of investigation for prosecutors and regulators to find conflicts of interest and antitrust concerns how do you think these probes will play out in the market they just seem to be starting. so much the process there to start facebook is under under scrutiny for privacy google is under scrutiny for a monopoly 50 attorney generals coming together has shown to be powerful in the past they came together to fight big tobacco and they won they came together to fight the mortgage companies and they won they came together to fight the opioids

and they won so they've shown that bipartisan attorney generals working together can be very powerful and effective now i think the biggest thing here is uncertainty and we just saw this in opioids with johnson and johnson when they have the court case is settled it was it was a multibillion dollar settlement but the stocks surged on the news i think just that relief from the uncertainty being over as long as there is uncertainty over what's going to happen and what these fines will be what they will have to break off parts of their company there's going to be an anchor on these stock prices because you always have that in the back of your mind until it's settled so while these stocks have an anchor there upside will be somewhat limited right at this very point we saw opioid related stocks go up after these settlements similarly we saw facebook's stock actually go up after they paid a major settlement because it was already priced enlarged. among investors but on

facebook the u.s. undersecretary of treasury for terrorism and financial intelligence. told an audience in burn the facebook libor a virtual currency project must meet high standards on illicit money flows if it's going to be allowed if the standards are high from u.s. regulators can facebook meet them on these concerns of terror financing and money laundering. 2 thoughts there number one the fact that facebook is getting involved with crypto currency is after all the heat that they're already on their means they must see a major opportunity so as much as i'm skeptical about the kryptos. that caught my attention the fact that they're still willing to pursue that the nice thing is if anyone can prevent money laundering well it's a company that has what $500000000000.00. facebook has the money and the task of

anyone to be able to regulate it so yes i think they can. they could bring regulation into that area but for me it's still so surprising that they wanted to get in and it makes me wonder how much upside there is there right it must be something very tempting when the challenges seem so numerous to this on an antitrust basis to this new project in other tech regulation news from the us to california where you were. pledged a total of $90000000.00 to contest a bill passed by the california legislature that would require those companies to recognize their drivers as employees of course a huge part of the value add for capital in this gig economy scenario has been precisely avoiding even the minimal legal obligations that employers typically have been united states how much of a threat is this law to their business model to the give me more generally if these

firms are required to actually treat their employees as employee use. i'm going to wrap up this whole conversation we just had based on that question the difference between these companies and companies like facebook and google facebook and google have made it they're going to have money to defend themselves they're going to be able to survive and thrive look at i.b.m. they haven't come out with something new or good in over a decade and they're still doing fine because they had a head start for the overs and the lifts and duress they're losing money right now without having these people as their employees these drivers as their employees if they're forced to recognize them as employees they will not all make it they can handle that storm the 90000000 is. nothing for the survival of these companies where they have billions at stake this is this is life or death for the company you can't take a company that's losing money at billions of dollars

a cost and expect them to survive if this ruling goes through you will not have all 3 of them you know maybe. have won so i'll take over because they have the biggest heads are solid take they're from and i'm also finally the global business world is marking a major transition as jack ma the founder of ali baba the chinese retail giant is stepping down formally on tuesday charismatic an influential founders can create great companies but sometimes struggle to pass on their formula for success mr monsoons are made great efforts to do that in the corporate culture at all bob what does this transmission transition mean quickly for ali baba and for why bill's an online commerce amazon wal-mart and others. so interesting with jack because if you read about his background he didn't have a strong tech background he didn't have a strong financial background he was just korea's magic and he was a visionary and he used that to turn into what he envisioned it it be. but because

he always had a plan he had a plan for this he let everyone know a year in advance that this was going to happen so everyone was prepared for it like i mentioned earlier bob as a company that has the money the power they're going to be able to stay in business even if you thought jack steve jobs and this is the end of that well 1st of all say look what happens after steve jobs left you could say there hasn't been as much creativity but the stock price has done 5 so i wouldn't bet against for over a decade just because jack ma's leaving but more from our point of view an amazing leader from a poor background in china now worth 30000000000 dollars and wants to teach in stuff just a great story he let people know this was happening. and so. it would be more fun with him so there but will be fun retiring in $55.00 quite an accomplished guy. adam mesh of the administration group thank you very much for

your time. this is great backs. and brazil's retail sector is preparing for a major shake up as e-commerce giant amazon will begin offering its prime subscription services in the nation the move has long been on amazon's radar as the company has aimed to expand its presence in latin america's top economy shares among brazil's top local retailers have slumped on the news as they brace for amazon's impact according to reuters in addition to on limited to day shipping the prime package of services will also include video streaming opening yet another front for competition and the market another notable fact about the move is the pricing scale which will cost the equivalent of $2.42 monthly much of last than the cost statewide. surge in the price of pork in china is pushing up the broader inflation rate there the latest figures from china's national bureau of statistics show port prices increasing by 46.7 percent in the month of august 29th teen

compared with the previous august that was the biggest monthly pork price increase sense a 56.7 percent increase in july of 2011 spike in turn to food prices toward a 10 percent increase and boyd overall on your inflation to a 17 month i have 2.8 percent in august that overall inflation figure matches the july number and came in above surveyed expectations of 2.6 percent inflation prices are fresh fruit also made a significant contribution to the inflation figures jumping by 24 percent that number was a decline from july's 39 percent inflation for higher prices do seem to be the trend for their foreseeable future pork the president of the china meat association has said the current regional outbreak of swine fever could slash chinese pork production in 2018 by 15 to 20 percent. time now for break but stay tuned because just after the break we take you back to singapore with our very own christiane. as

she continues her interview with world renowned international investor jim bloggers on the topic of global trade tension and markets on the horizon and as we go to break here are the market numbers of the close but. please. please today there are good and bad that is the bad news in yemen

the united states. the good. lord in syria the cia and the u.s. military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up right away military windows funding an army just was there's no anymore because there's always a small clique for a really good. profit. kind of financial survival job that it was all about money laundering 1st to visit this cash in this way to. get the good stuff we have our 3 banks all set up something in europe something in america something overseas in the cayman islands and it will pull these banks are complicit in the tough talk or sit with us up to the senate to

do some serious. ok let's see how we did while we. watch for max. beautiful jewelry and how. do you know what money is highly. watched kaiser of course. thousands of american men and women choose to serve in the country's military. every came to a complete. halt you know what they kill me and i see how it destroyed my life and he screamed at me in. my own. right i mean. if you take into account that women don't report because of the extreme retaliation it's probably somewhere near about half a 1000000 women have now been sexually assaulted in the u.s. military rape is a very very traumatizing have happened but i've never seen trauma like i've seen

women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished the offender and almost 10 year career which i was very invested in and i gave a sex offender who was not even going to justice or put on the registry this is simply an hour in violence male sexual predators for the large part of target whoever is there to prey upon whether that's a man or woman. welcome back as major global economies continue to drug turf blow's instability has grown a long side stoking fears and threatening markets however singapore has continued to discover ways to maintain its growth and retain sustainability christiane is on the ground in the city state and gives us an in-depth walk at the state of

singapore. in the last 2018 global financial center survey new york had overtaken london as the world's most attractive financial center followed by hong kong * and singapore london had dropped due to the uncertainty of brag that expectations are that this year we could see hong kong and singapore swap rankings as well as the unrest continues in hong kong let's break this down into 2 parts the public option markets and the private wealth management sector. singapore's capital market has not been spared from the market volatility and the global macro headline risks $29000.00 remains to be challenging with it as a marathon 8 percent year to date as a trade reliant economy contracted 3.4 percent in the 2nd quarter the biggest decline since 2012 singapore is often the bellwether for global demand given its heavy reliance on foreign trade and this points to the risk of a deepening slowdown in asia on tuesday the s.g.i. barely moved at all by china's stimulus measures adding america 6 bits to finish

singapore's complicated integration into the regional and global supply chain makes it especially vulnerable to a slowdown in growth and the tariff wars exports account for 176 percent of g.d.p. and since the start of the trade war in 2018 the markets have seen a dramatic slowdown 2800 was a huge disappointment for i.p.o.'s as they raised only 710000000 the lowest in the past decade due to trade concerns and the rising interest rates now while the public markets are slump singapore's private wealth management sector is one of the cornerstones of the economy and that's thriving unlike the us or china the stock market actually has very little bearings in singapore and the tremendous growth and its wealth management sector the world bank rank the nation's 2nd out of $190.00 countries for the ease of doing business its purchasing power parity ranks 3rd in the world and it's private wealth overseas more than 2 trillion dollars in assets specialized and b.t.s.

well there's a huge psychotic made between the performances of the public market and the private markets in singapore the mutual headline risk remains to be the outcome of the trade war singapore now takes its full year growth between 0 to one percent as a manufacturing sector has taken a huge hit the most recent tax on $300000000000.00 of imports covers a large portion of electronics that was deeply affect the supply chain that singapore is so deeply plugged into the situation is being monitored closely by the government as them are. additional stimulus measures reporting from singapore for boom bust. and as you saw on monday kristie i managed to catch up with world renowned investor jim rogers he gave us his take on the future of the global economy and what he expects going forward this time he spoke to us about the ongoing trade war and what could be some comic forecast for several nations notably japan here is the 2nd part of that special interview. so essentially right now

there doesn't seem to be a thing any end to the table even though there and are a positive resolution would actually drive the markets up at this point do you see any end to this upcoming talk about since we are in the 19th month. if they print more money and if they announce trade war is over there are things that can cause the market to continue to rally now it's rallying less and less as you are well aware and around the world it's it's already stopped in many places around the world there are not many markets left i cannot think of any in the countries so it's already starting. and when they. they're going to do their best they're going to put out pull out all the stops but. we've had bear markets since the beginning of time we're going to continue to have bear

markets until the end of time janet yellen who was the head of the central bank in the u.s. said a lot not long ago that it's all over don't we have to worry anymore we have solved the problem we will not have the economic problems anymore so if you believe this is yellin she's got a ph d. from ph d. from college if you want to listen to her you can because she says that no more no more problems coming my view is. we have always had bear market. we're going to continue to have markets until the end be worried. what you should do is watch r t v and yet not what you will and once you're knowledgeable you will be prepared and you might survive but even if you're prepared you might not survive if you just told me about a guy before who's totally prepared that he's down 6 percent in one year so you know it's going to be bad for all of us so the last trade war if you take

a look at history of what happened before with between the u.s. and japan that trade war lasted over a decade and then subsequently we had japan who lost the trade war they suffer at the last decade where they had. productivity they've lost a decade and they have some would argue they never really recovered from that and they're currently in their 3rd decade of lost productivity so you say you have done your homework. the japanese stock market is down 50 percent in 20 years. instead of trying to explain you yes yes no. i just just published published 2 books in japan this year about the problems in japan and to my shock and delight they're both number one bestseller stunned stunned i got your letter to thank you i keep writing to the japanese the most recent book is called a warning to japan and this is number one both so i keep explaining to them you

know what i'm just a foreigner the japanese total. somebody is so very very pleased because i keep telling them guys you've got a serious serious problem here now so you made it so you made excellent points there in your books and everything like they had the last decade and then they had subsequently 2 more decades of just very very bare minimum minimal minimal productivity growth accepted. white or artificial county exactly but do you think that the subsequent result of this current trade wise gonna result on the exact same thing happening to either at the china where they'd you ask over the misses well you perceptively point out to the job these would not lead it by the for you hole in the they propped everybody the up in the early ninety's scandinavia had the same probably they lay the everybody failed it horrible bankruptcy is they had to reorganize the whole country since since god than they've used for and much much

better compared to pay on refuse let anybody for you'll 29 years later the japanese market is still down 50 percent 50 percent from where it was in 1989 and 99 and so no this in this is not over yet certainly not in japan japan and in my view mr abi doesn't like me because i'm always saying negative things about what the japanese government is doing but their the they're making it worse and the population this in the every day the population declines the dad goes through the roof owed i mean i love your pay and is one of my favorite countries in the world but my gosh if i were to new old japanese you got to get out of the country got to leave now are you go to learn how to use of the ha 47 because this in the serious social unrest when you're 30 or 40 years oh country's going bankrupt they're not going to be been a japanese the of no us it's a shame and really where we going to get on or sushi much such as they are

a tremendous exploiter of culture but do you see d.c. of us the coming a carm problem of hopping into china because try to i won't had the same population is she is esther and china walled how while have the government stimulus to back it up the p.b.'s c. has been very aggressive sell far this year do you think that the p.v. see can rise above what japan has done and will actually be able to recover the economy back on track to its previous 56 70 percent growth i i hope so but i want reminds you everybody in the thirty's suffered german the america england france the good with the great countries so the world at that time all had very very serious problems even america which had a merged and was becoming the single most successful country in the world because thirty's who are not fun in america for for many people there were people who did well but most so even of america which was the parikh on in the thirty's so for

very very very bad be so yes the next time around and everybody oki going to sway the baby dot north korea maybe not because they've already there already it did disaster so the yes has been very a prospect sell far can we used or pad as a wrath friends of while could happen today and u.s. economy if we continue down this path that we are on the pound i rattle question about that a less america lets people fail and cleanup the system which they want they would bora to demonstrate it we would not that people fail no we're going to go the same pay at the japan has gone begin to proper try to prop everybody up which you got a prop up a lot of pension plans you got a prop up of got the central government which is has gigantic yet the most and deaded nation and in the world history oh i don't unless some america let's everybody fail and cleaned out to system which is you know the way capitalism a supposed to work people get in trouble competent people call take over the said

it's reorganize yes it's and start over from a sound but yes that's not to way we do it in america now for you know we take yes that's away from the competent people get will joe be people in state your be incompetent be now you compete with him with their money and it just makes thats the japanese story all over again so i history always manage just to repeat themselves on the u.s. shit take a lesson from that issues if you have children be sure to teach him child he's going to have trouble too. for this time you can always catch boom bust on youtube dot com slash we must start to see you next. week.

with his so-called afghan peace process in tatters u.s. troops still in syria iraq more times than not agreeing with iran maximum pressure on trent failing and america's allies in the middle east at odds over yemen can anyone make heads or tails out of trumps foreign policy in the middle east it seems to be going from bad to worse. please well you know that they were kind of adopted because we were called pirates for so long. i mean they're in the small boats next to the hard pool of ships and it's. not something. the little self to be told fish already 90 percent of the dot and it won't be calmer.

to contemplate if teams copes 75 tons they do it several times a day with the big fleets oh you get an idea on why. we have to understand we cannot stay used to just. be with them this will be the only going to go out. i'm doing this because i want them for the future world too. generations to have and enjoy the ocean how we have.

gone from says he thinks a deal with iran is possible that some day 5 of the most hawkish members of this white house to bolton who previously backed the us quitting the nuclear deal with the round. morals of how to cross the united states for victims of the 911 terror attacks all survive this continue to question the way the investigation was handled. they wanted to put the interests of. the geopolitical region 1st. if it did the needs of the families and family members survivors. so germany.