french born washington coming up. the street to creating. and conditions for implementing the fees one tiny u.s. trade agreement the spotlight is back on china u.s. trade as the people's republic has waived tariffs on some imports from the united states straight ahead we bring you expert analysis into what lies in store for the world's 2 largest economies plus tesla is defying california orders and has reopened operations within the state what does this mean for the auto giant we have a boom bust panel on hand to break it down got a packed show today so let's dive right in. and china announced tuesday a new set of u.s. products eligible for waivers from salvatore tariffs put in place amid the height of the trade war between the world's 2 largest economies now the chinese foreign ministry issued a statement saying the waivers on $79.00 products will be put in place on the 19th of may and expire in may of 2021 the new list of products with waivers includes ores of rare earth metals gold ores civil wars and concentrates as part of the

phase one trade deal between the 2 countries signed in january china agreed to increase imports of u.s. goods by over $200000000000.00 over 2 years now the 2 sides held a call last week to discuss implementation of the phase one following a threat from u.s. president donald trump to pull out of the deal if beijing did not meet their commitments now the chinese foreign ministry on tuesday spoke of the importance of upholding this agreement. then the 1st phase of the economic between china and the united states china the united states and the world both parties should hold your examples of equality and mutual respect and jointly implement the agreement. to creating favorable. conditions for implementing the phase one china u.s. trade agreement and for more on this let's bring in expert analysis from todd horwitz chief strategist at bubba trading and topix with c.e.o.

of transformative research thank you both for being here with us today so but i want to dive right in here is there any significance to these tariff waivers we're seeing out of china and what does this mean for the overall trade deal between the u.s. and china. well you know brant the chinese can read polls in the polls say that the angry orange man is not going to be there after november so clearly if you from china's perspective throw a bone here i mean number one number 2 a by the way before we had the penn demick they had their swine flu and i lost about 70 percent of their pigs and poultry so they need our poultry at the same time we have too many pigs that we can't deliver so this is about the the nothing is nothing concession i've ever heard this is geopolitics at its best chinese plate much better than we do because there are strategic will they have one tactic you get a tariff you get a tariff well guess what chinese just one this one this little round all right now

but i want to i want to hit on this as well with you know amid the pandemic that we actually anticipate both sides will adhere to the deal and more importantly with the economic situation worldwide is there any chance of phase 2 coming in the near future as early who holds all the cards i mean to tobin's point when it comes to more trade deals between u.s. and china. well i couldn't disagree more with coal but i mean 1st of all i think the trouble beer for another 4 years so that's a 1st parcels like a bar that is this deal i know a lot of good china has never honored a deal their history yeah but just $1000.00 i'm good ok. at the end of the day i think you've got a market that will never end here this deal china's not here do a deal in their history why would we expect that to now they've already got the w.h.o. and the trying to lean their way yet they can't when we could pull out and they need us a heck of a lot more than we need them and of course when you look at the big picture we're going to shatter my god and we can we can exist right here without them we don't

need them as part of our economy. i'm sorry but i'm going to let you respond at this point. i don't know if you're smoking over there but what do you share some look at china is going to have a 4 percent g.d.p. we're going. a negative 8 percent g.d.p. china buys all of our electronic ironically our agendas are not going to open hellbent tell but you're talking you're talking right or if you're talking b.s. look let's see what the real numbers are china's a drop all they've got more issues than we do they do need food they need a lot of things that they're not going to be able to get they're not going to have their biggest customer who buys more product than anybody else so let's let's not get into these semantics of what's going on where ok then today china is the us more than we need them and that's really what it comes out now but i want to let tobin respond let's try not to interrupt too much i do want to get both your opinions here so go ahead and finish your thought thought there well deployed is strategically china needs our electronics as much as they need our food number one

number 2 they believe and i can they can read a poll just like i can't believe bubba just closed his eyes a little bit on that stuff that the big orange man is way behind he's losing on every one of his key states so their move is build a fence now and then when a new president comes in they start again that's classic chinese i've spent a lot of time in china i know how it works right now guys i know we can continue this conversation for the rest the segment above i want to i want to move on to another point here now saudi aramco announced tuesday a 25 percent drop in 1st quarter net profit as the pandemic has ravaged the oil demand now opec members are of course pledged deeper cuts which helped push prices up a little bit on tuesday what's the future outlook for oil at this point. when our oil is up to go trying to rally it's up you know to some around the $30.00 level and again will it will it stay here look at the end of the day if we get the

economy open and we get the economy flowing and we start increasing demand then yes we get oil can start to will it go back to 50 i don't think so i don't see major high prices until we can get a full year. and start to use completely but the meantime we're going to cut back on what you make here saudi arabia there everybody's going to cut back and try to create a supply shortage we've got such a glut to begin with that it could be a long time to go through what you already have in stock in what we have stockpiled but you know again i think if we have a smooth and this thing continues and we start to open and get more action than i can certainly they'll be a demand for oil and prices will resume to be more it was somewhat normal but again if we have any issues along the road you could see another negative for an oil before it's all over if something happens and now tobin as we talk about oil 'd being you know crushed right now we've seen movement by the saudi government since 2016 to diversify their investment we even saw the saudi vision fund take

a $500000000.00 stake in live nation the concert promoter recently what are they doing to diversify the economy and are there concerns are there concerns with the saudi government buying up pieces of companies worldwide especially american companies. well i again saudi arabia is a as a country within a country the people who have the money has about 5000 people what i know exists i have saudi arabian investors in my funds some are subscribers i talk to them all the time they're the worst market timers in the world if saudi arabia is putting money in live intent i would short that stock because they've shown time and time again that they don't understand business cycles because they never have one there they don't understand valuation because they don't care and so i when they get real active in the markets to try to quote unquote diversify dude they've got to have $80.00 oil to pay all the people all the money that they promised and all the bonuses the nice stuff to keep the you know the keep the people settled these type investments are nothing to them and they're going to turn out to be nothing they've

lost $2100000000.00 in the softbank quote unquote you know a mystery find and they're probably to lose another $5000000000.00 and maybe somebody's head rolls at the bottom but the people at the top say hey let's 5000000000. so ben smith and bubba horowitz thank you both for the expert analysis much appreciate it. and let's take another global look at the trends and spread of the coronavirus with r.t. correspondent side savage or so i where we today brian looking globally there are numerous countries looking to live for instructions and we're obviously seeing that here in the u.s. against even against the advice from health officials that are pleading to the government and to the public to maintain some sort of plan to avoid and new wave of infections because this pandemic is far from over and we're seeing

a lot of new cases daily specifically here in the u.s. who are now topping the rest of the world in new cases and then in fact in russia now places them among the top 3 countries in the world that are affected by the deadly disease and now just in the last 24 hours russia reported over $10000.00 and you cases and more than half of those new cases reported are in the capital city in moscow yet the country's death rate is still still relatively low at under 2100 but critics are calling those numbers into question as are remains far lower than other countries now the u.k. for example which has about the same number of cases both countries have having over 220000 cases yet the u.k. has more than 32000 deaths but the kremlin claims that the spike in new cases is

because of a testing program that was carried out about a 6000000 test in the last couple of days and the lower death toll is because the same program has allowed medical staff to quickly identify those needing medical care but at taking a look at the following countries right here. looking at us russia brazil india u.k. peru saudi arabia pakistan turkey and chile these will all come from new cases just within the last 24 hours a so taking a look at all these numbers just show you how much they're growing within just the last 24 hours which again shows that this pandemic is far from over you know so i want to go back to the economy here though this pandemic has obviously slowed global commerce to a crawl but we're what are countries doing to help me through their economies. so even before this crisis many countries already have very high debt levels right which is why so many world powers are doing anything they can to prop up their

economies during this downturn now let's start with china the world's 2nd largest economy now during 822008 financial crisis spent about half a trillion dollars on a stimulus package and so china has roughly doubled as government dead to about 60 percent right now and many analysts don't think that they actually can afford to spend so aggressively again they get china has given about $80000000000.00 to struggling businesses and is planning to cut interest rates in the months ahead now germany who had doubled their nearly 59 percent dead of g.d.p. in $21000.00 has spent about $50000000000.00 yours or about 10 percent of their g.d.p. to prop up their economy then a looking at the u.k. who has about 86 percent debt at 2019 as they were negotiating a pro post with the e.u. now could add another 5 to 10 percent out of their kind of me and in 2020 and so

far britain has spent about 400000000000 pounds or about 15 percent of their g.d.p. to rescue their economy then to us at about 100. and 6 percent dead to their g.d.p. purchased a 2 trillion treasury bond and on the fiscal side also passed 2 trillion stimulus package to get the us economy through the crisis lastly japan was already at a 238 percent debt to their g.d.p. in 2019 there responded with a massive relief package worth one trillion dollars to help the country through one of its most challenging periods in recent history brand arky correspondent saya tavenner thanks for keeping us up to date. and time now for a quick break but hang here because when we return elon musk is launching the

lockdown rules in california as the calls for economic reopening continue in the country we'll break it all down with a boom bust battle in just a bit as we go to break here the numbers at the club. i.

we go to work so you straight home will. join me every thursday on the alex simon show and i'll be speaking to guests of the world of politics sports business i'm show business i'll see you then. with good reason public discourse is focused on addressing and finally each containing the kobe $1000.00 pandemic now the focus is on devastated economies we're in a recession will it be if into a depression will the recovery be a u. d. or an elf.

to good to bad is the end. pleased. or operation dying why are some of the wealthier neighborhoods it's been far more contained in the numbers are much lower than some of the for a neighborhood to start a city that's increasing we're working with can source outside state because they're just so in their year so i think that it was. tesla founder and c.e.o. elon musk has found a new role over the past few weeks leading the tech resistance to government

shutdowns now musk has announced that tesla will defy local orders and it is starting its california for fremont california factory the announcement came monday on twitter and it supercharged a standoff over government orders at the company's california plant remain closed as part of efforts to slow the spread of coppa 19 joining us now just justice and other stories of boom bust co-hosts christiane bence one bet i want to start with you musk says he is going to do this and really they kind of have despite orders for tesla to stay whole what is the value in this move for tesla and ilan musk. well i'm not sure what the value is necessarily tesla other than getting its operations back up and running which i guess would be valuable for any business owner what's interesting about this story is that obviously the last few weeks really has been kind of as you said there the head of this kind of tech resistance so you have companies like facebook and google that are right to kind of lockstep with government orders and musk is taking the opposite position saying that this is

the united states and we shouldn't be under these kinds of of lock downs and so he's been very defiant from the beginning virtually now he has restarted production lines at that fremont california plant we also know that he tweeted out that after monday he said a good day's work and thank you for everyone for being here we know that on tuesday about 3 o'clock eastern time a letter was sent from the sheriff's department to tesla and their chief safety officer telling them to shut down and that the sheriff's department was mandating they shut down because apparently alameda county the county that the plant is in has more strict guidelines than the state of california has and so must actually sued over that saying that he should be able to operate under california's guidelines not under the more stringent local. guidelines so that's kind of where the battle has been so far and so far musk says he's going to be on the operating line working with workers and if someone gets arrested he says it should be him.

i'm sorry go ahead christie i know you're all jacked up to talk about this yet because i'm like absolutely fine if he actually is the leader or the face of the tech resistance if that's what he wants to position herself to be but if he really was doing that then where was he during this entire big resistance where was he trained net neutrality he never took any position on any of those things but now when it's something that's affecting his business his line of work oh now he's all up in arms about it until it actually makes him a big hypocrite in my book because right now he's basically saying hey california thank you so much for the tax subsidies thank you so much for those tax breaks and everything i'm going to take my headquarters and move over to nevada or texas is basically what he posted in a sense to lead a tweet so that he is only upset because this is a this is affecting his business directly and this is out making extreme backlash in california which is one of his main demographics and consumer population so they are the ones who was previously praising him for being thinking that oh musk it's

going to be the genius that saves the world from carbon emissions and everything now it seems to be finally that california is taking a stance and being like we are tired of his antics and that's it actually karen is going to send it to me just because in fairness and i know this and christine knows me and she knows i'm all about ideology right that that it's not about your own personal situation if you have this belief system it should be true so i agree with what you're saying about that but in fairness to as with most people there are many people who are not passionate about their own freedom and they're not passionate about you know these ideas or deals of what it means for limited government and having freedom until your own is taken away it's easy to not worry about it when it's someone else if it takes this for someone like you almost or many millions of americans across across the country or people around the world to say wait a minute. why are these rules in place and do these rules make since and why is it that company is essential while i'm non-essential it might take this for some

people to awaken i'm not saying the law must has been awakened i'm not saying he's been as the term goes red till him saying it might take that for somebody to wake up to see their own livelihood well right but i mean but i think christie i know this is what you're saying but i mean essentially he's got this huge high profile as a as a tech entrepreneur as an auto expert nor is a space entrepreneur now and it doesn't seem like he's fighting for other tech companies he's fighting for musk he's fighting for where he's actually trying to make sure he can push those vehicles out to keep getting them on the road i mean which does affect his bottom line but obviously you know he's made $10000000000.00 what in the last year based on the valuation of tesla so he's doing all right now here's to your point earlier too i mean do you think this could actually affect sales if he were to fully pull out of california do you think this could actually affect sales because california is the most equipped to handle tesla's there's charging stations everywhere there's actual tesla dealerships there more than there

are anywhere else in the country do you think that could affect his bottom line in the place where probably the most tesla's are sold here in the united states. and absolutely will affect his bottom line and that's probably why he deleted that tweet threatening to pull out of california and it probably also has to do with the fact that we just got numbers coming out of shanghai so if you remember last year we there was. basically exploded because they get a factory finally opened up in shanghai and was ready for production well sales figures just came out in china and shanghai especially the entire city has been reopened everybody is at maximum production capacity there is no strain on production so coming off the line there $12000.00 vehicles produced in the month of march only $3000.00 got sold and that's a 70 percent decline month over month so that already shows that the hype factor of the clout factor that i had last year is already gone and that's fine * because. that name brand recognition likes to chase the clouds so to speak and in china where the market actually moves fast and brands are only and now for months at

a time the sales cycle is much much faster pace than that in the us and tells us finding that out the hard way that their vehicles are no longer competitive with a lot of the cheaper e.-v. alternatives that are coming out of asia now guys i want to do take quick churn because i want to follow up on something we talked about monday we waited to see what would happen with the price of bitcoin as a result of the having now ben it turned out to be kind of a nonevent but why is that. well ultimately what we didn't see was a huge spike in the price of big point it's up about 2 percent today 2 and a half percent but we did not see a huge spike but what you people have to remember is that there's a lot of fixation on round numbers you know 10000 being this round number that everyone's looking at when in reality because it has continued to do well it continues to hover in a strong place and with everything going on around the world right now just watch it carefully because you're going to see currencies being disregarded and you're going to see more movement towards those currencies and real quick about the law must he might just pick up a whole other demographic of people outside of california who in the past thought

he was a commie who now suddenly say well maybe this guy does like freedom even if it's just about himself and i know we could have done a lot more on the having there kristie so i apologize that you didn't get the way in there but we are sadly out of time co-host ben swann and christiane thank you both for joining us today. and disney is hoping that it is on the road to recovery after reopening the 1st of its 6 international resorts in shanghai china the move is being a lot as an important baby step for the global tourism industry which has been ravaged by the cope. it's with disney fans in china have been waiting for. after a hiatus that lasted nearly 2 and a half months many of the familiar sights and sounds are back in church. high disney resort. shanghai disneyland was the 1st of the company's theme parks to shut down due to covert 19 the diseases of the business. like

home. and now it is the 1st to be back in business to ensure social distancing measures can be met the park is restricting visitor numbers to only 20 percent of its daily limit or about 16000 people and it doesn't end there. while part goers look excited to be back at the magic kingdom other than capacity limitations it is obvious some things have changed the way. the crushing measures are good at disneyland people need to keep a certain distance between just off crowds from forming popular parades and fireworks shows have been shelved for the time being you know addition disney is insisting that all park go words were face masks and go through temperature checks employees will be taking added disinfection measures at the resort. while for the people it's all about fun for disney the reopening of the shanghai resort is an important step in recovering from virus lock downs which have cost the company an

estimated $1400000000.00 in pretax profit the good news is if the 1st day of reopening indicates anything it is that disney is as popular as ever when tickets went on sale for opening day in 3 minutes but shanghai disney isn't out of the woods yet and neither is china in general china has seen new cases of covert 19 in recent days adding to the fear that another wave of the corona virus could be on its way and that means that the doors of disney could be forced to close once again . while experts predict future ups and downs with covered 19 for today this is the only kind of roller coaster ride visitors that shanghai disney are concerned about a little disney magic to remind them of better times and hopefully a sign of brighter days ahead for boom bust i'm alex mileage. and that's it for this time you can catch boom bust on the brand new portable t.v. up a veil on smartphones through google play on the apple app store by searching portable

t.v. and as always you can check it out on youtube dot com slash boom bust r.t. so you next time. join me every thursday on the alex salmond show and i'll be speaking to us from the world of politics sport i'm showbusiness i'll see you then. yeah if. you mean i'm. just used to the you do you think you could only get you to go to egypt i would do it if you could it. seems to me.

it took a long time so much time to listen to this and should want. to sure these meetings with the ladies with. just the cuban. music. on the slum. just for you pushed. me and coming from me my siblings wanted to do you know more. is your media a reflection of reality. in a world transformed. what will make you feel safe from. the isolation or community. are you going the right way or are you being

led. direct. what is truth what is faith. in a world corrupted you need to descend. to join us in the depths. aura made in the shallowness. long enough to require some good and you have a lot of people where you can keep blurry i'm a good member i think that at least. you could probably. body in victory in the earth week i was really cruel or asleep each. business was of women rising to. mean you.

will ask yourself how are you going to survive how are you going to protect yourself. with the flu and the old lots of fun and you threw in a few what do you want to. do in the little stall. in technology where they'd been able to name x. people's private information on the cell phones and see what you've seen if you have crossed off list. somebody who is positive want to run a virus and if you are if you have a need or misused across parts of somebody positive please you must in our into your own. thing that was interesting. to all people. in the same city.

european nation slowly lifting the log on so many fear that it may trigger a 2nd wave of covert 19 infections speaking live to a representative from the w.h.o. about whether people are right to be worried. germany provokes the fury of brussels after its constitutional court questioned the legality of the european central bank's monetary policy ensuring a eurozone and threatened to stop cooperation with. the 90 buffy bosses are arrested across italy after a spike in criminal activity comes after convicted mobsters were temporarily released from prison as part of a plan to stop the corona virus spreading in jails.