again just about hitting the 3000 mark at the high point we will get to more of the u.s. markets later in the show. and an escalation in akwa door is on the news today as indigenous led protests against i.m.f. imposed economic policies persist even after the government of president lenin moreno was forced to flee the capital of quito and increase in fuel prices pursuant to a march loan agreement with the international monetary fund sparked the protests with the kindling coming from broad and growing anger over president turns to the right on economics and foreign policy exemplified by merinos choice to call on the i.m.f. for economic help on thursday evening the ecuadorian foreign min interior minister sorry announced that indigenous protesters gathered at a cultural center in quito had released to some police who had been captured while trying to repress the protests however dozens dozens more police are believed to still be held by protest groups across the country as they attempt to defend themselves from a heavy handed government response also the country's significant oil industry

seems to be grinding to a halt as a result of the protests near midweek a pipeline that moves an estimated 2 thirds of ecuadorian oil production was shut off by the nation's oil minister the minister also said he was considering declaring force majeure or claiming unpreventable circumstances invoking a contract clause against penalties for late deliveries protesters reportedly have seized at least 3 or oil fields and joining us now for some expert in country perspective is economist and former ecuadorian central bank official andres our rouse mr rouse welcome to the show and 1st let's get oriented to the players in issues here president moreno was elected on pledges of continuity with former president rafael correa a citizen revolution but governed quite differently most obviously with his i.m.f. loan agreement you have noted that we had some clues to this turnaround when mr moreno considered billionaire isabel now boa to be. his running mate who is lenin

and how did someone elect is a leftist and the going to the i.m.f. which was previously kicked out of south america. well thanks for having me yeah in effect well my endo in his youth was an activist a militant of what's called the revolutionary left movement in his youth then as he became a one man he became a sort of what we can call a charity kind of leftists right one that supports giving charity to poor people or disabled people but not really the transformative kind of leftists that usually once to overhaul the national economy or the power structure in society and now we see that he more had a personality that likes to seek approval from more powerful people or for power for interests that's why when he was vice president perhaps he seek the approval from a president go to who was

a strong leader and now in his absence he seeks approval from transnational oil corporations or demonic powers around the globe and delving a little more deeply into this process in the background you have spoken what you call the gradual dismantling of the political coalition that led to the 2008 constitution of monta christie in the political realm and then the legal tear down of that new voter approved constitution effectively by the courts tell us about the process. ok so the new constitution in 2008 was basically a new correlation of forces between workers student small and medium business enterprises nationalist enterprises and industry and all over its center to left movements that got together to basically change the ecuadorian development model into what's known as win beat or good living but because of attrition and also because of perp. full divisions that where financed by transnational

imperialistic firms especially led to an attrition that weakened the social movement fortunately and this is something the i.m.f. is very good at is getting together this 2008 coalition again with indigenous movement with the workers with progressive i could there makes an intellectuals into what may become a new coalition to bring back that development bottle that was abandoned by what i know in a similar fashion as to what the fed and this is just did in argentina by bringing back the old national popular coalition in argentina in comparison there and on the i.m.f. agreement that seemed to cause a trouble here can you tell us about some of the specifics and how it specifically contributed to this protest movement. let's just perhaps an element of context here and it is the i.m.f. especially in the western hemisphere is heavily guided by the hand of the

department of state and department of treasury so basically what the i.m.f. does in the western hemisphere is u.s. foreign policy now given that context i.m.f. program the austerity package is about 6 points of g.d.p. it's 6 percentage points of g.d.p. with tax hikes fuel price hikes privatize ations firing public sector workers and of course financial deregulation to benefit foreign financial capital and domestic financial elites so this package has implied weakening of the ecuadorian economy people had been sort of suffering for a while but with the most recent decision to hike prices of diesel and gasoline 4 by over 120 percent people said this is enough and mobilized and on the role 'd of oil and fuel prices in this fight we've seen similar struggles. on energy equity in

oil producing peer nations such as venezuela where there are defacto fuels to do use that may run its serious public costs but removing them would increase economic injustice and possibly generate an roast in your view what would a sensible and i could of all resolution to this question of fuel subsidies and energy equity look like in ecuador. well 1st of all there has to be an element of gradual and then we have to see it from a different perspective let's recall that ecuador is annoying producing country but nevertheless it imports its gasoline and diesel from abroad from the u.s. and from other countries in latin america and just doesn't make sense so basically the problem has to be a balance of payments problem and what we have to do is try to orient some of this money that should be these revenues that are coming in from the hike in the prices of oil to finance the refinery in a petrochemical project so that we can have our own gas at the ins and not have

this money from the prices of diesel that have been hiked go to paying for servicing for in that now this can be done also by substituting the type of energy that our cars use ecuador has a surplus of electricity because of the 8 hydroelectric power plants of renewable energy that where bill is doing that go to our government and this surplus of electricity has to also be used by having what we call the change of the ellen energy matrix in replacing these fossil fuel 'd cars with electric cars this can be done as had been done by replacing old fossil fuel stoves with electric electric stoves during the quarter our government and we also touching on another issue here or oil is an issue but also the indigenous movement is an issue here you know not good or we under president he sometimes. was accused of exhibiting

a paternalistic sort of condescending attitude toward the indigenous what is it what should we know about the role of the indigenous movements in these protests. well the images movement is in a historic movement in that quarter and all of the endian region they have been active political players ever since the ninety's that one that have opposed the old liberalism the most enduring that got our government they emphasize their position overall to extract the industries this has to be understood and it's and i say they are right at having protested against the contract of islam because look at what they have suffered from oil exploitation for example by chevron that left them most of their greatest oil spill and that means in the ecuadorian amazon and that now the i.m.f. agreement the man's that the money from the i.m.f. bailout be used to actually pay back chevron for an international arbitration

that's being sued against ecuador in the hero while that's remarkable dres arouse excellent insight from this former official at the ecuadorian central bank thank you so much for joining us. thank you for having me it's a pleasure. and it's time for your weekly global stock market wrap starting as we do in moscow that stock exchange is up for this week earlier today russian cell phone company m t they are canceling plans to list on the mo wax and they will stay on the new york stock exchange meanwhile the 3rd largest russian stock exchange the st petersburg market is reportedly considering moving to russia's far east to be closer to opportunity you have a lot of boss to keep an eye on that in japan the nikkei is up for the week as well so notable spikes in both directions. on that market during the week but ending up

solidly on friday on continuing optimistic reports about u.s. china trade talks in shanghai their stock exchange the world's 4th largest and capitalize zation at $4.00 trillion dollars for the week one interesting note there regarding the recently launched star market under the shanghai exchange that's a tech focused regional answer to the nasdaq global in next compiler m.s.e. a m a c i announced on friday that it will begin including star market information in their global investable market indexes in bombay the sensex is down for the week big selloffs no surprise in bank stocks late this week of course in the wake of renewed worries about the sectors stability after the latest banking scandal at punjab in maharashtra co-op bank or p c in australia the a.s.x. is up for the week again hopes for a us china trade deal seem to be a significant factor boiling stock market and in south africa the all shares is up for the week a south african currency the rand also notably strengthening this week on those

reports of optimism for us china trade talks moving to europe and the americas in paris the cac is up for the week the bank of france this week essentially said the french economy is treading water the central bank affirmed their previous forecast point 3 percent growth in france for the 3rd quarter of this year in frankfurt dax is further weak and has been showing arguably surprising strength as germany seems to teeter on the edge of recession not market pop 2 percent just on friday and is up 15 percent for the year in the u.k. the footsie is also up for this week and surging on friday over optimism over a resolution of another fight over terms of trade of course the bungled breck's at the bottle notably the 50 foot c 250 index had his biggest one day rise this week since 2010 of 4.2 percent and moving to the americas in brazil. for the week there was a sparkling round of capital raising on that market. this week as jewelry chain

vara raised $500000000.00 in their 3rd i.p.o. shares gained 3.5 percent on that news in mexico the b.m.v. the both some he is down for this week still slumping growing pessimism about the dismal prospects for passing donald trump's new version of nafta rebranded as the u.s. m.c.a. and in the homestretch all the u.s. markets on our big board for this week as we just discussed writing a strong friday to close the week a strong day when we're looking a lot of green arrows due to optimism in those u.s. china trade talks and finally in toronto the. stock exchange is up for the week one notably strong performer on that exchange this week was mining company hubby minerals which jumped 5.8 percent on thursday also we saw some surprisingly strong job numbers out of canada today with nearly 54000 workers hired in september and the unofficial employment rate falling to 5.5 percent and this has been your weekly global stock market wrap. time now for

a quick break but stay tuned because just on the other side of that break g.m. strikes continue as the company's management sits with the u.a.w. union leaders for talks but there's still no end in sight lauren fix the car coach is standing by to give us her take on the situation and the future of the global auto sector and as we go to break here are the market numbers at the close.

search it's just. he was the biggest so. that's a lot of caught up with. the official moves to switch from the both. of you vote on the. top.

of this contest to almost a last chance and ask for the last 70 and seeing endemol today for the rights promotion commission so you. ready to shift shoot on disc in the. asian community. teach it mom. i know you care so so don't know when to much to me mama just that are ya know.

it wouldn't make just manufacture consensus instead of public wealth. when the ruling classes project themselves. on the financial merry go round lift certainly the one percent. it's time to ignore middle of the room signal. to lose the real news for the world. because the swarms of the blue of them still moving. good us who've looked for was before. much of those who heard it's a preview or most few other movies to see him we will. we will we'll. move. move really.

look she didn't look beautiful little i mean it's going to look her good. more muslim also these girls will give you films for good girls. don't go to shows look why do you disagree you belong here to show the story to the you should go. to starbucks to give it to me to fill it with the little blue mist they'd say look it is it's. your stash them understand statistics not it's the mashed old trick to stop the president and he's been trying this morning until. the brochure for 2 shows to go shirtless were to sleep with a little mule because that was the cousin with you sir your supporters to your she walks through sure sure mr you should cook door for.

walking back and in some breaking news on one of our previous sidelines u.s. president donald trump has reportedly announced what he calls a phase one deal on trade with china that he says will be written within 3 to 5 weeks we'll keep an eye on that meanwhile an asian summit 3 news chinee chinese president xi jinping is in the southern indian city of shinai for a relatively informal meeting with indian prime minister narendra modi while officials say there is no fixed agenda for the leaders a 2nd meeting global trade tensions on the border dispute over kashmir may be unavoidable topics mr xi is holding hoping to calm relations between the 2 nations after china supported pakistan's resistance to anya's decision to revoke autonomy from the disputed region of kashmir and lock down nearly all kashmiri

communications with the rest of the world both islam of new delhi claim kashmir as their own territory on trade china is india's 2nd largest trading partner with 87000000000 dollars in trade crossing annually between their borders the 2 leaders hope to increase that number to 100000000000 dollars by 2020 china also wants india to join the regional comprehensive economic partnership which aims to create the world's largest trading bloc india has expressed concerns that entering the pad could increase their already $55000000000.00 trade deficit with china further. and in merger news shareholders have voted to approve a merger between u.s. war material manufacturers raytheon and united technologies the new company will be called radio on technologies and x. is expected to jump ahead of northrop grumman to take the title of 2nd largest war contractor in the united states united said knology c.e.o. go. hayes reportedly engineered the merger as the culmination of his efforts to

remake the company mr hayes is expected to become c.e.o. of the merged corporate entity pending regulator approval of the deal. and in auto news general motors is said to have increased their offer to the united auto workers in hopes of ending the nearly month long strike that has put nearly $46000.00 g.m. employees on the picket line according to sources familiar with the issue g.m. has upped their investment pledged to $7700000000.00 for direct investment into u.s. factories the offer is up $700000.00 from the offer prior to the strike that would have included direct and indirect investment in direct investment would include joint efforts with partners while direct investment funds would be directly injected into g.m. factories while sources say the proposal is favorable to both sides only time will

tell if the union and the auto giant can come to terms joining us now to dig into the details regarding the ongoing strike and other global auto news is the car coach lauren fix lauren good now be back and has as workers at g.m. enter their 5th week of the strike the east lansing based anderson economic group they say g.m. has lost more than $1000000000.00 in profits since the beginning of this strike if you look at this in global perspective does this problem perhaps not a crisis open the door for asian manufacturers to make inroads into u.s. markets. well what it's really doing is offering the biggest part of g.m. sales is trucks so they can only and they're having a truck sale going on right now and the inventory as of last week was good for only 2 weeks so we've got about a week left of inventory before dealers start scrambling so what it's really doing is opening the door for domestic truck manufacturers ford in ram or producing vehicles as fast as they can and they plan on picking up those truck sales because if you can't deliver those brand new heavy duty trucks and the and the brain is

silverado and sierra's somebody else is going to pick up that market segment and it's looking like ford and ram are poising themselves to take a big chunk of that sale and that includes s.u.v.s if they can't build product people are going to look elsewhere when they do need a vehicle loan you always know the angles on these things each and every year we see more and more state of the art tech being put in new vehicles as you know with leadership to spend majority of their time known resolving the strike do you think there will be an effect on him of the innovation stifling innovation and new products. i don't think it's going to stifle innovation at all i just drove the brand new corvette on tuesday i'll be releasing the driving impressions next week and i will tell you they've done our big big jump in there and evasion lots of technology better build quality and that type of department that r. and d. that research and development that technology department is not part of the union that would be part of the construction and the building of those vehicles in the supply of components so this is going to be still continued innovation i don't

think this is going to impact any of their technology in the future. returning to the story of this corporate intrigue renault the latest is renault's board voted friday to remove their c.e.o. terry bowlin or bill or as the come as the company along with their partner nissan works to shore up this trouble to y. and south through this scandal plagued tenure carlos go not all that's happened since his arrest what can we expect from the new leadership of the alliance and will these automakers really be able to get this alliance back on track. i think it's going to take some effort to get this alliance back on track they have an interim c.e.o. she's got a lot of experience with reno and i think you're going to see that blended in with what nissan's working on and mitsubishi and i think it's going to take some time this who is been pretty ugly hope it's worth it in the end for those that planned and plotted this thing because the fact is it is impacting nissan and other car manufacturers and that's not good they need to get back together and work together as a team if they wish to be successful and if they wish to make profits which is really

what the company's about and you sort of put a political lens on this. are there any factions still in reno do we know of like are there are there are holdovers that will resist the new regime or what is their piece there are conditions for corporate peace within reno. i think it's going to take some time i think right now there are some holdovers because obviously you can't we need everybody out but i think some of the big players have been removed both at nissan mitsubishi and also at reno so if they can work together and with the new the new staff i think it will help. it's going to take some effort on all 3 companies parts and still have ca's saying you know maybe we should talk so that's still possibly on the backburner and stepping a little bit away from labor disputes and scandal plagued auto alliances but stay with motors high end vacuum cleaner maker dyson has a plan abandon its plans to make electric vehicles company founder and engineer james dyson had planned planned to spend $2700000000.00 on technology and

production of b.b.'s including a plan to build an automotive assembly factory in singapore mr dyson sent an e-mail to employees saying the company's board plans to close the automotive division the south china morning post said these are just too easy to make there's too much competition what you make of all this i think there's also no profit which is the real reason that he decided not to continue if there's competition and you can put out a better product which he's done with vacuum cleaners and hair dryers i have one of those hair dryers i think they're fabulous but i will tell you that if you're going to produce an electric vehicle and nobody's making a profit that tesla and that g.m. that nissan they build them because they have to and it is going to come into the market you've got to come in strong and you better have profit margin he still makes great vacuum cleaners lauren fix the car those things so much. thank you. and finally in our heavily digitized era analog formats are making a limited comeback the return of vinyl l.p.'s as a list

a means of listening to music has been underway for some time with the familiar stories of bottlenecks and waiting lists at the few remaining record pressing plants well now another retro format is having a bit of a moment yes it's the cassettes turn in the spotlight as noted by billboard cassette sales increased by 23 percent in 2018 and while that is a large increase on a small base it's been enough of a surge in demand to create a shortage in the key input for making recording tape that is gamma ferric oxide the physical medium that carries a magnetic signal the largest tape in concert manufacture in the united states national audio company recently wrote to their customers to explain that their supplier the only ferric oxide plant in the world has been under renovation and therefore not productive for most of this year no word on whether the shortage a new tape is raising the prices for vintage unrecorded legacy set formats. that's it for this time you can catch boom bust on youtube dot com slash 2 must start to see you next time.

in this community there are people who believe that it's ok. it's really hard there are no jobs and you see that i've got kids and ask and as a parent. i can come up with lots of arguments there's a lot of conflict in the game between the close of the conflict i would say. and most of them has made. us want to know the tunes. each other is good because the state of california makes 6000000000 dollars a year of prison complex and you get some when you live where. you don't care and one of my cares about you so you don't care might anything. the world is

driven by dreamers shaped by one person with those great. thinks. we dare to ask. are you really at the. birthing room that was revealed to me on social minute speech it's just. he was the digits of the fixed.

costs. let. alone the official moves just watch me love them both up and up my mind that you vote on the. fall. asleep. i look it up.

a journalist accuses his former network n.b.c. of trying to impede his pulitzer prize winning exposé harvey weinstein's a legend sexual abuse is also names hillary clinton among those that stood in the way. the man suspected of murdering a 9 year old girl is taken into custody hundreds in the central russian city of toronto demanding the death penalty for him he spoke to the girls and. he's a. nice wasn't the ordinary sweet saying in gymnastics just a sweet child.