ai. global stocks nosedive as investors panic over the coronavirus with the united states market suffering its worst sell off in more than 3 decades. the rest of the world overtakes china confirmed deaths from the virus nations now seeking beijing's advice on the best way to tackle the pandemic. politicians are to be in either pushing the world is uncharted territory we are slovenian philosopher for his prediction. we did not see.

hello that was headline news 247 this is our international. break welcome to the program u.s. stock market suffered its worst trading day since 1907 with share prices tumbling by 13 percent on monday the coronavirus pandemic is causing turmoil on financial markets worldwide despite drastic action from central banks to limit the damage discussed what's driving the selloff with our senior correspondent. well there's only one way this is going and it is going down look at yourself in a matter of weeks the dow jones industrial average this is this is an average of many major corporations so an index of their stocks the average it is plunged to levels that we saw that the world was out in 2070 so over the course of a few weeks we've raced all economic progress made over the last 3 years and this is still early days yet i mean the pandemic in the united states it is predicted to

get much much worse essentially what we're seeing is the equivalent of a run on banks so if a bunch of people right on by scene are trying to get their money out this is what investors are doing now with the stock markets with the stock markets in the united states and. their reaction has been so far to come out and say they're obviously trying to avoid inciting panic they're trying to calm everyone down and they're pulling the money out of thin air billions and billions 700000000000 that they announced in financial measures which is quantity of easy which is a bailout which is it's essentially printing money pulling it out of thin air and giving it to bags the whole point of this is to keep keep banks running what is a bank to bank has money what does it do with this money doesn't sit on it it gives it out so you give it gives it out to you you're a business you're a mortgage owner you get all this money and here's the bag it has hardly any left

suddenly all these. debtors all these that is come to the bank and say look we want our money back the bag doesn't have any money i mean you've got all the money you pay every month you pay every month the situation we're in now is the entire industry is collapsing while manufacturing italy is on lockdown and the banks rule exposed to this so nobody's paying the banks of the back of the banks com pay the eventual. you know the people who invest that money in a bag how this is affected markets around the world 1st it was china they shut everything down and this was you know this was the 1st wooden bell because this would this is a knock on effect the entire world economy is interconnected a small bag somewhere in chicago has ultimately an interest in keeping things running in china because see it own stock in apple apple produces its ruins in china so then surely there's no phones being produced in china. new for new phones being sold so the bank takes a loss ultimately it's all

a knock on effect with genius across the entire world more quantitative easing and rate cuts they're going to keep rates of this is this is to stimulate borat to stimulate bags to give out more loans on top of loans that are being paid back so that we can at least pretend that things are going on as as usual we have these fiscal measures out there and they're very powerful i mean the sum total as well over $800000000000.00 from our forward this is it is sort of kicking the ball down the road. all this money the more than a trillion if if though those $800.00 a printer to get more than a trillion dollars that people are going to have to pay back this is banks this is ultimately borrowers that are going to have to pay back all this huge amount of money but there's no alternative. is to watch the entire thing crash and burn and the europeans especially worried about it we support our companies we support

the small and medium enterprises and above all we support people we support them in their jobs we support them with their income losses so right now the focus is on strengthening our economies and investing what ever is necessary to have the economy going on further in the future looks very blue. because you will have hundreds hundreds of millions of people all around the world sitting at home without jobs and entire interests industries at a standstill but everyone has to eat you know their loans to pay there are responsibilities that must be attended so it's anyone's guess uncertainty how this is going to go uncharted territory and they'd how we also sounded out economist richard wolfe who thinks confidence is slipping in government and that it could spell a disaster on a par with the great depression because lots of the markets today down 10 percent roughly here in the united states in new york city where i'm sitting is

a clear very profound statement that the entire investment community which is not the small people who have a few shares i'm talking about the people who manage pension funds who manage bank what follows and so on have a massive loss of confidence in the government of the united states or in the private economy to get out of this disaster after a cut in the interest rate last week and even bigger double the size cut this week and the announcement of stimulus plans we do not see a recovery a turnaround we see that these are interpreted as signs that this situation is out of control and i think you see that in the business community you see it in the mass of the working class you see it in average people everywhere are we are out of soap in our supermarkets we are experiencing the kind of meltdown that you

associate with events like the great depression of the 1000 birds and the world health organizations announced that the global death toll from the corona virus is now overtaken china's ground 0 for the deadly outbreak. in the past week we have seen an amputee skull luzhin of cases of course 19. more cases and have now been reported in the rest of the word than in china according to the latest estimates deadly cases for a round the rest of the world have now outstripped china by around $600.00 approximately $16000.00 more people have been infected around the globe compared to the total number in china where the virus outbreak was 1st reported on monday beijing announced that it was sending additional experts to help tackle the pandemic in italy the 1st team arrived in rome last week with tons of medical aid including masks and respirators it's been reported that if anything you have allies have refused to help saying they need to stockpile essential for their own citizens

dr packing one a senior lecturer in international relations of barking diversity in the u.k. explain to us why china stepping in to help italy. to china italy has a very special crease because italy was the 1st country who signed a one bill one rule agreement so i believe as italy has already the extent that how we quest to china china has taken it very seriously and cement off the entire 40 did ask help from the you'll however it didn't work that's why italy has to ask for help from china. are the european. states members who experience all know or is crisis and i believe that the chinese government would also be willing to extend help cement offer its the core no waras ulbricht it's not will not do china is also this to be major economies in europe and in

north america as well as disrupting all these global supply trends saw i believe we are actually already only her into recession. spread of covert nineteen's taking its toll on big decision makers too with the sickness striking down many in the corridors of power a growing number of lawmakers falling at least causing concern over how effectively governments will be able to coordinate their responses to the outbreak. there are far more politicians who have been infected than you would have by statistical chance politicians are overrepresented in the number of people being diagnosed.

so. then all the uncertainty and unknown of all this it's easy to get a bit worked up so we thought we'd get a sound ahead onto it we spoke to the celebrated slovenian philosopher about the pandemic he'd like in the crisis to wartime scenario and emphasized the need for meaningful international solidarity. in previous cases people were thinking just about isolation and so on until one day i shook we are becoming aware

that we can't go in there unite that coordinate that way we are all the entire humanity in we seat in the same bug the big loser i think will be pretty sally and nationality racist and to want within our country to isolate itself until of course we need to get an inch and like for example take europe we should act in a united through a shell pink tribe or we could rate them straight in mosques what they would eat what their bodies need that and go on and so on i think that. in this sense we should be shaping riyadh in the middle of that military operation we should be i'm not here appealing to some kind of abstract sense of solidity even in our interest in germany now that's a look at it they may get an even stronger probably epidemic and go on and to want

so it can think obviously that the east some think that demand from us but he decides if we think as a national. step we'll get that big step back and reflect what this our mobile go through life how should we change it because we should be aware of why i don't think it's not let me just go on gollum really and in talk that he months it will be over baby in this epidemic. in the fall that i bet if the day may get out i think it's an article about it and so what it was i think that even when things go well that it doesn't normally it we did not beat the same normality as denver might be because we leave it now we're going to change our mode of life. well here in russia the number of confirmed coronavirus cases is

approaching a 100 and a few hours ago the government announced a temporary ban starting on wednesday on almost all foreign nationals entering the country colton looks at the other measures being put in place. russia's corona virus infections have jumped to $93.00 people only 7 of which were actually infected within the borders of russia the vast majority came from abroad and the whole situation has really set off alarm bells with officials moscow's now banned public gatherings of more than 50 people until april 10th schools and universities will also be closed by the end of the week for about just under a month but students will be able to continue their studies over the internet now russia's also decided to close its border with neighboring bella ruse to halt the spread of the virus as for russian nationals returning from the u.s. in europe they'll be confined to self quarantine for 14 days president putin's also already ordered the creation of a new group within the state council to address nationwide mobilization against the

spread of the corona virus and starting tomorrow special volunteers will be sent to all of russia's virus stricken regions to help the most vulnerable the elderly to get through this difficult time but most of all moscow wants to make sure that a panic doesn't occur and it's assuring everyone that they need to stay calm while many countries are implementing aggressive measures to contain infections the british government's been shopping criticized over its perceived lack of action some of the latest concerns came after the country's chief scientific advisor mentioned going down the route of so-called immunity and other words infecting more than half the u.k. population. in terms of building up a unity within the u.k. well i mean what sort of percentage of people need to have contracted the virus probably about 60 percent of the country's health secretary matt hanko claim to deny that achieving community is u.k. government policy a case in britain. now surged to beyond $1500.00 with $55.00 people dead as

a result of petitions being launched calling for schools to be closed across the country the government also stated that it plans to ban large events after delaying on the decision additionally the u.k.'s health secretary has said that people aged over 70 could be isolated for up to 4 months we asked people in london what they think about the government's high risk approach to tackling the pandemic. and it's probably true if you take your view i don't really describe how the 1st project responsible should you believe what you. already knew so we put at risk for a situation like this i can see the argument doing that but really i can also see the n.t. say we're going to you know push it out of people to get that virus if we make sense we've come down to date. which scared to justify this but we've got to carry on living. overseas i don't say that far this is a peak into about 10 weeks time so that's when i will get really concerned what we

don't know yet is full range of data and evidence that we would need to know whether or not we do become immune to this virus possibly. it's a great strategy possibly wrong so i. don't know but nobody seems to be giving this old the range of thinking so one year my told lee is an associate professor of infectious disease modeling at the university of warwick in the u.k. has been explaining to us why it's slowing down the epidemic is so crucial. to your 3rd immunity is that when enough people have been in fact he finds a virus then. the epidemic will eventually die out so essentially what we're still trying to do is we're trying to control the outbreak so we're trying to put in interventions that will delay the peak of the epidemic and also reduce the size reduce the height of the epidemic. the point is that a certain number of people would be infected then it could no longer in fact any

more people because the sensually people had all their contacts and been infected and so it reduced to a low enough level that the epidemic would die out is the risk to we know that the over seventy's and particularly the eighty's. because they may have underlying health conditions are more risk some obviously you want to protect those. those people in the population which is why these sorts of measures are being considered it's really important now that we keep up these good hygiene practices that have been recommended we keep the necessary isolation and quarantine policies. and the crucial thing here is to reduce the demands on the health service to make sure that those people that really do need hospital cat have access to it. the other stories we're across this hour the leader of israel's blue and white party benny gantz has accepted an official request from the president to try and form

a coalition government it comes after the longtime rival of benjamin netanyahu was endorsed by a majority of lawmakers in the knesset following a 3rd inconclusive election in under a year the gerund discuss the prospects of a new government with our correspondent in tel aviv. what does this mean for benjamin netanyahu. well it's certainly not good news i mean he's going to be hoping that there's going to be a 4th round of election he's also very surprised because he was the one who actually won these elections and. particularly from his voting bloc was that he would be the one to form the next coalition government what are the chances that guns can become the next pm look at this stage they seem quite small he's facing 2 main problems the 1st problem is that he's formed a coalition between our parties and a right wing political party belonging to a former army defense minister avigdor lieberman they are not natural allies so you'll just have one issue that will be wrapped in the 2 sides will fall apart guns also faces threats from 2 members of his own party who say that because he's formed

this coalition they are going to withdraw and if they withdraw he won't have the 61 majority that he needs at this stage however the country's president we've been living in has tossed guns with forming the next government or at least trying to pick the law gives you 28 days beginning tomorrow to form a government this is a short amount of time but given the current circumstances of national and international crisis even this is too long. i will do whatever it takes to form within a few days as possible national petri arctic and broad government so if guns doesn't manage to form a majority coalition one next. well then they're going to be for the elections and the question here for everyone is how do you hold elections when you have the coronavirus epidemic at the same time israelis are really fed up we've already had 3 elections here in the space of one year and it's costing the country a fortune but that will be the ultimate solution or at least the next step. and if

it goes through a 4th round of elections would that benefit nicer yahoo or guns it will probably benefit netanyahu because we have really seen a lot of criticism from the guns camp he campaigned on a ticket where he said he would not have anything to do with the right wing political party they now have come on board and they complained on the ticket saying they have no. thing to do with the arabs and here you see them forming some kind of alliance so that that kind of support is going to be lost also done city wouldn't have any kind of relationship with the extreme of parties a party called balad and he is having a relationship he needs them for the 61 coalition so people are likely to say the next time around hang on can we really trust guns can we really trust the coalition that he's going to build now that's when you know his corruption child was due to start tomorrow tuesday but it's been postponed because of the coronavirus pandemic now what impact did his trial have on the elections where you might think that if might have had to make it of impact but actually it had the opposite in september he won 33 seats and this time around he won 36 seats so with these corruption

trials going on behind the scenes his support particularly from his base has actually increased and this is because people say they must be unified against what they see as an attorney general that has it out for netanyahu against what they call a liberal unfair media so it's actually banded together the netanyahu supporters. independent inquiry into child sex abuse in the u.k. has found that the internet is facilitating a sharp rise in predatory behavior and the police are struggling to respond to the growing threat according to the report's findings 11 to 13 year olds are most at risk it says that as many as $450.00 suspected paedophiles were arrested each month and it stresses that the scale of abuse is likely to be considerably higher than the official figures show the inquiry also notes that many internet companies are failing to provide adequate protection for youngsters using their services.

you don't know where this image is ruined down and that is an awful thing to think in the future fos can just look online and get we can i mean one can. know the media now is far more accessible i feel that what we are just now where is

it not that it's changed the protocol outraged. and i feel that we need really equal changes to our whole criminal justice system we need a law that the police themselves not equipped 1st of all to deal with this. incident methods that abuses use and the report says the british government needs to work with tech companies to counter the online abuse it also says that new tools are needed to prevent the posting of indecent images online as well as algorithms to detect illegal content and also want schools to offer better guidance about how to stay safe online for the more legislation may be proposed which would enable the reinforcement to tackle the problem more effectively. we can arrest our way out of the problem and we have to look at a far more holistic approach we are a saturation point now margaret all of them again have exposed the poor handling of

the rochdale child abuse ring in 2012 agrees that the government needs to be working more closely with tech companies. even with the right training in the u.k. we call must've. that a set of police offices individual police offices are overwhelmed there are not enough of them and it's down to the government to invest in the criminal justice system we need to address this root cause we need more police officers we need a real commitment to invest in dealing with this kind of crime but alongside that i have to say that the technical giants like google like microsoft. on this and they have billions of pounds and legislation should make them culture abuse the funding too and she will that investment does go into these to prevent paedophiles

from destroying in children's lives because that is not what is happening on a daily basis and that's the way i look from moscow so far this tuesday the 17th of march your next of the world news is in a little over half an hour. now

in. what would be historically one of the greatest financial crises of the 115 years and where does it fall into the category where how do you classify it i think we're going to see a global depression and to your point how quickly do we get out of it the activist the problem there is that their prescriptions thus far have caused the problem so there actually is the problem. that the central banks need to be removed from the equation because they are the problem.

hello and welcome to cross talk where all things considered i'm peter lavelle the world is struggling in different ways to cope with a coded 19 pandemic and governments are taking the heat for their actions and inactions well the coronavirus be a referendum on globalisation. cross talking some real news i'm joined by my guest here in moscow dmitri bobbitt he's a political analyst and editor in me internet media project and in london we cross to marcus papadopoulos he is editor of politics 1st magazine article in crosstalk rules in effect that means you can jump in anytime you want and i was a preacher let me go to marcus 1st in london as this pandemic continues and there is no end in sight different countries are experiencing different levels of this

pandemic and there's been pointed out by the media and by people around the world what actions work and what don't work but there's so much broader discussion that needs to be taken in that it's the nature of globalization and how globe. liz ation has allowed a pandemic like this to spread become a pandemic itself here and when i say globalization i'm talking about the nature of trade borders the very nature of the nation state and even talking about sovereignty again which is per boden on both sides of the spectrum but it's something that has to be talked about because at the end of the day the nation state is required to take care of its own citizens your reflection there go ahead marcus. indeed one of the consequences of emergence coronavirus has been to shine a light on the dangers all globalization and that is something of a cool spots a western media can simply american major and british major is not going to discuss

because globalization is a very it's not an and at the same time the coronavirus has demonstrates it the importance all borders of security all nation states and incidentally in britain and america the worst. along with the worst coach are and religion are regarded as dirty which is not just idiocy but it is absolutely laughable now will the coronavirus results in the downfall of globalization in the downfall of the new world order which is being in existence since the end of the soviet union the soviet communism i believe knots why firstly because a shipment because there is an assumption the ordinary man or woman in the west instantly britain and america has made the connection between.