i. this is the one business show you can't afford to miss friendship or in washington coming up while away is back in the limelight as the u.s. has ramped up its battle against the chinese telecom giant this wall has seen rising tensions with the people's republic we take a deep dive on the conflict. as it's hope in 1000 pandemic continues to rage on investors are seen to a hedge and it's a conflict between old reliable and the new school we break it down the fight between gold and big point for safe haven supremacy with

a packed show today so let's dive right in. and we lead the program with an escalation in tensions between the united states and china the trump administration on friday announced new measures to block shipments of semiconductors from chip makers to while away technologies in announcing the move the u.s. commerce department said they would be changing the export rule to strategically target while ways acquisition of semiconductors that are the direct product of certain u.s. software and technology adding the announcement cuts off while weighs efforts to undermine u.s. export controls under the amendment to the rule foreign companies that keep that use chip making equipment originating in the us will be required to obtain a license before providing the chips to walk away or any of their affiliates earlier this week the us president and donald trump extended an executive order originally signed in may of 2019 which stopped u.s. companies from using telecom equipment made by companies that pose

a national security risk now this order is now extended until may of 2021 the order has been characterized as a move against chinese companies like wall way and z t e. and to me while china is risk directing imports from australia some believe the move is a retaliatory measure against the australian government's support of an international probe into china's role in the corona virus pandemic arctic correspondent alex smile of edge as the story. australia has been hit by chinese trade suspensions and analysts say they know why all street is starting only to use to. its 'd very point fall trying. to mult yankee states so that's why now we just have to do something. echoing the us australia is calling for an international

investigation into the origins of covert 19 questioning china's transparency surrounding the outbreak of the virus some analysts believe china is striking back by banning australian imports both governments however deny the claim and say the beef is about something completely different. chinese customs on that multiple badges that only products exported to china and by certain australian violated the election in quarantine requirements 2 of them were jointly determined by the competent authorities of both an order and we have a well this is obviously a. difficult time as we do with one particular sit and try to issues that would like to do a dumping as well as the what is effectively the administration around a belief in exports to china whatever the reason behind the chinese trade barriers the land down under will likely feel the pain china's australia's largest trading

partner over a 3rd of the country's exports went to china in 2017 as for imports australia brings in more goods from china than anywhere else in fact australia is known to be one of the most china rely. developed economies in the world at the center of the current trade battle is beef 80 percent of australia's goes to china up barley is also on the hit list china confirmed it is ready to impose a devastating tariff of just over 80 percent on australia's barley exports due to anti dumping allegations chinese restrictions could do a lot of harm to the industry since china buys nearly 50 percent of australia's barley exports the australian government believes other agricultural sectors could be at risk including wine dairy and seafood in all 28 percent of all of australia's agricultural products are exported to china however it's not a one way street a 5th of china's barley comes from australia in fact australia's china's if the

biggest supplier and that includes goods that are critical to china's energy and manufacturing sectors australia's largest exports to china include cool iron ore and natural gas worth $80000000000.00 a year. when it comes to iron ore chinese steel mills or engineer to take particular blends that australia supplies that along with the reality that there are a limited number of competitors selling the resources make it unlikely china would shift away to other suppliers and while they keep pushing for a trying to investigation the ozzies are banking on that we do a very clean lines about things that are very important to us as does the chinese government and we respect their lines as we expect allan's to be respected australia continues to insist on a china related to 1000 investigation while at the same time calling for treetops with china so far china's not answering the phone and if issues aren't resolved australia might have to brace itself for

a severe economic follows. and for more on these increased tensions with china we're joined by boom bust co-host christine christie thanks for being with us as always i the 1st question when we look at all that data that we've just received from alex there how reliant is australia on trade with china. magine heavily heavily relied because china is by far australia's biggest export market and pretty much a 3rd of exports by value so as i just mentioned not only does this include agricultural products like beef up our lakes but also over $80000000000.00 in iron ore and $20000000000.00 in coal and natural gas exports so in 2008 australia exported $120000000000.00 in goods and services to china which is about 7 percent of g.d.p. so now these new trade barriers erected around specifically beef and barley are concerning for australian farmers who are now forced to kind of diversify and look to expand into other asian markets such as south korea and japan but obviously due

to the population the demand cannot be replaced from china that means like so a very interesting quote from the a c. m.p. read that australians diplomacy might be a bit naive by playing hard with china the us gets the candy so this entire dispute might actually pave the way for it to increase china's beef and marley purchases from the us instead of australia in order to further help meet its purchase obligations on the phase one trade deal seems as if china when one door closes for china another door seems to always open we saw that with the us and sawyer i believe it was brazil who ended up sending quite a bit to sawyer after we had those issues so i want a marketplace like that and. that's all i want to do to bring up the 1st story we did today the u.s. has escalated its bout battle against walk away again what's going on here. well the german ministration announced new export restrictions friday to further cut all telecom giant huawei from the receipt suppliers so it seems like now that this mass panic over the coronavirus has died down the u.s.

wasted no time in picking up exactly where things left off which threatens to ignite a whole new round of u.s. china tensions so this new restrictions stopped shore and semi manufacturers whose operation used u.s. software and technology from shipping products to while away without 1st getting a license from u.s. officials so this is actually gives the u.s. commerce department a veto over the kinds of technology the hallway can use which is again just like what we said on thursday that u.s. courts were having distribution of telegrams globally it sets a very dangerous precedent for the u.s. to flex its powers to control what can or cannot be distributed outside of the u.s. so now under these new rules the department can essentially block the sale of semi is manufactured by taiwan's i mean manufacturing company located in taiwan as it uses cern u.s. chip making technology so now think about it if you're you if you're a company based in say india and you want to use american technology to manufacture a small portion of the full stack and of course you also pay you subject to the

u.s. for who you can or cannot sell to even though you're not even a u.s. based company so at that point it doesn't really make sense and the u.s. is now flexing its muscles globally in order to have indoor to control detect technology to china you know kristie quickly we got about 30 seconds left of the segment but how is china actually expected to retaliate to the situation. well as we've seen from the happen last year any move against wildly which is the crown jewel of beijing being mistreated will result and challenge my actions which could include things like another bout of the care for but also china can also activate the unreliable entities and that will restrict u.s. companies including qualcomm cisco apple and boeing boeing a huge target right now in china could suspend purchase a boeing plane the only another major blow to r.t. struggling company so all 4 names are down massively this morning because of that and really boeing can't take another hit as well after all the issues that they've had not only with the pandemic but obviously the 737 max crisis co-host kristie i

thank you for breaking that all down for us. india. global markets are all down on the week as oil search 3 percent its highest level in more than a month still market sentiment is low after the latest flare up between the u.s. and china over the trump administration's move to block semiconductor shipments to while away technologies all right let's start in russia where the mo x. is in the red for the week a trend you will see in every market coronavirus cases are still rising in the ruble and russian treasury bonds hit record highs on friday as oil prices surged but it still wasn't enough to push markets into the green in russia for the week moving over to asian markets all 3 in the red as we talked about the shanghai composite is just slightly in the red however with very little change the week data released on friday showed china's industrial output is bouncing back and rose 3.9

percent year over year for the month of april in hong kong the hang seng also down in the week and the with us russia u.s. china tensions rather on the rise and potential tariffs on the table hong kong is watching asia's financial hub saw a 1st quarter g.d.p. drop of 8.9 percent in advance reading this week the worst on. there's also concern that once the virus subsides protests may return now in japan the nikkei is following similar trends with this 1st weekly loss in 3 weeks investor sentiment took a hit again on deteriorating relationships between the u.s. and china and the possibility of another trade war let's move to india where this is also down on the week down 17 percent for the last 3 months now although telecom major air tel saw the biggest gains on friday up nearly 3 percent not a good week in india shares in australia are also down for the week the a.s.x. tumbled and saw its biggest drop since may 1st on concerns about the us economy in

april 600000 jobs were wiped from australia's economy and on friday the index did see some gains with major minor b.h.p. shares jumping more than 3 percent moving to south africa the j a c all share is following the same trend down for the week now let's take a walk over to the other side of the studio and take a look at europe and the americas that it's more of the same in europe with the 3 major indices down for the week were to star in france with the cac it was up on friday but it still wasn't enough to make up for the losses now the german dax also down but saw some gains early friday of 11 percent on signs of a recovery in china which helped boost sentiment now that didn't last as the index remained volatile throughout the day europe's largest economy saw its sharpest quarterly decline german g.d.p. shrank by 2.2 percent in the 1st quarter compared to the final 3 months of 2019 now

in the u.k. the footsie $100.00 is on trend down for the week as the index saw gains on friday as it clawed back some of thursday's major losses minors jump between 2.0 and 3.4 percent on friday alone let's cross the atlantic to brazil for the best but is also in the red this week now brazil's central bank said g.d.p. for march. by 5.9 percent the government now expects the economy to shrink by 4.7 percent this year this would be the largest drop since 1900 when it became began recording that data let's move north to mexico the b.m.v. is also down on the week as the country sees its peak of coronavirus cases the country plans to reopen its auto construction mining and mining sectors by monday despite record debts and then going into the u.s. all 3 major indices in the dow s. and p. and nasdaq are down on the week as u.s. retail sales tank 16 percent in april alone the dow saw the dow actually had

its worst week since late march apple qualcomm and boeing all saw a decline in prices this week and let's finish it out in canada the t.s.a. finished in the red despite seeing some gains in the energy sector which climbed 1.4 percent while u.s. crude prices jumped 4.2 percent a barrel as data continues to come in showing the economic impact of the pandemic we're going to keep an eye on the volatility within world markets which is what we are seeing and that is your global market walk. and time now for a quick break but hang here because when we return as the cove in 1000 pandemic continues to rage on investors are seeking a hedge and it's a conflict between old reliable and the new school we breakdown the fight between gold and big oil for safe haven supremacy as we go to break here the numbers at the close.

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take a bite. i like it when the hosts ask a question for the guests and then actually listens to the guests answer and then react to that answer a folks dennis miller here i've got a new show. you know it doesn't really matter where you've been but batterers is where you're going right we'll see you church generations look back at the establishment media as the lead in the water pipes that drove the romans mad do you find yourself watching t.v. to turn your brain off to relax i want you to watch t.v.

to turn your brain on i'm rick sanchez. it's time. to do news again. and welcome back the corona virus continues to sweep across the globe as some nations are beginning to reopen their economies following the lockdown measures for a closer look at where the globe stands on infections we turn things over to our to correspondent site average or. some brand lockdown around the country have been lifted in almost every state and businesses are almost universally reopening under

restrictions such as allowing fewer customers or crime workers and customers to wear masks and enforcing our social this today this than saying so right now a handful of states remain on lockdown with state home orders in places and most businesses still closed but let's take a look so illinois and delaware all still have stay at home orders in effect until may 31st and those are the red states now michigan on the other hand will open on may 28th then we have new jersey was going to open up a little bit later on june 5th while d.c. right here is set to open the latest on june 8th then we have the states that are really opening soon which are the states in blue by made between me 18 and 20 have now it's not yet clear whether dos states will extend their stay at home orders which will all depend on looking at new cases and deaths next week the same time the restrictions are to be lifted then we have seats that are reopening in some

areas and those are the ones in our news do you see right here which means governors are allowing counties or regions that meet criteria for slowing the outbreak to open ahead of others meanwhile the hardest hit areas in those states are to remain under strict lockdown not a great example of that is new york which has been the head there. it is so red areas like new york city are likely to open much later then we have states that are just reopening you see all the ones and green which means businesses are almost universally reopening but under restrictions allowing fewer customers requiring workers and customers to wear masks and enforcing social distance and now the states that are reopening for the most part are said to be open by me 18 adelaide is an brand all of these reopening is right here have come even as the c.d.c. is warning that reopening too soon might trigger an nother uncontrollable outbreak

but moving over to europe. where countries are determined to put. back on a map for the summer so forgive so while the year's a list of countries that have already ease restrictions for their citizens and which the restaurants museums and retail open but a europe is different that the u.s. and then different in the u.s. because the e.u. is really dependent on tourism between the countries for example germany represents 30 percent of the annual tarus in our history so the turn of germans marks an important role to recovery for austria so while this long list of countries are no longer on their strict lockdown they are still working on opening our borders between the e.u. asinine europeans with the e.u. travel ban on foreigners now extend it until june 15th very few airlines are flying

and travel advisories worldwide is warning against all international travel now the chance of visiting the euro before fall is iffy now also looking at industry that's been hit really hard so far few industries have been hard as badly as tourism now this is the impact of the pandemic. on the airlines and this represents just the airlines now for example if you look in europe they have lost an estimated $76000000000.00 on airlines latin america has lost about $15000000000.00 middle east 19 asia pacific 88 perry and africa 4000000000 and north america 50000000000 so brand taking a snapshot of the tourism losses is really difficult because the data changes as quickly as it spreads but the pen demick continues for several more months the travel the world travel and tourism council of the us the trade group that

represents major global travel companies projects a global loss of 75000000 jobs and 2 point one trillion in revenue brand r.t. correspondents thank you for keeping us up to date. and with nations around the world printing massive amounts of currency many investors are looking for safe havens traditionally safe haven investments are assets such as gold and silver but increasingly over the last few years because in another crypto currencies have become a focus for investors so which is truly the better truck choice because we're gold joining us now to discuss how to bust pose bents one all right ben i don't know if this is even a fair question for you this. is a big quarter or is it gold or you know what i'm going to say i want to say it's big quite a force but i think there's some there is some statistical evidence to back me up

here look less than gold is good no no taking shots here are gold i think there's a lot of people who've invested in gold for a lot of years it has been truly a safe haven asset and gold has been on the rise you know gold's up something like 16 percent since march so it's done pretty well and for folks who you know or are tied into it it's obviously a good investment and a lot of nations are tied into gold nations like china certainly buy up a lot of go. so there's no knock on it but if you're talking about just return on investment. is far superior just since march alone has increased by 42 percent and in general if you go back to the fact that big coins really about 11 or 12 years old we're talking about thousands of percent return on those initial investments and that quite so it has risen pretty steadily and it's been strong now big coin is more volatile than gold in terms of the day to day week to week outlook but again if you're going by larger swaths 3 months 6 months or a year because the way to go well but if we're looking at something if we want to

use the term safe haven aren't we looking at that situation where it's less volatile events a bit koin i mean isn't that why. people like our friend peter schiff i know we always reference it whenever we talk about it all but our friend peter schiff he would say look it's not volatile yes you're not going to see the big gains that you see in because but you're also not going to see that big plunge if say you buy at 8000 and drops to 5000 a day you know a couple expand right so here's here's the problem with what's happened with big quite so if you go back 12 years and you say those initial investors or even people who are buying you know they quit in 2015 or 2016 or even 2017 right people who held on to those investments as a long term actual store of wealth investment they do well the problem is that a lot of people at the end of 2017 were getting into big because they saw it as a money flip they wanted to go and get a return on that investment you know it increased by a 1000 dollars 2003000 dollars and then get back out of it again so they were

essentially trying to flip money that is not any kind of store of value if you did that with gold you would never make your money back right that takes too long but that's how people were treating it but if you go back to treating that coin as an actual safe haven and not just because by the way but other currencies as well if you treat them a safe havens and say i'm buying in today let's see what this is worth in 5 years or 10 years i think you're going to be pretty happy. now ben i want to touch on this because we're not seeing some massive major players were actually much of this earlier like multibillion dollar hedge fund manager paul tudor jones who order of diversifying their portfolios with because jones even compared because potential to that of gold in the 1970 s. why is because considered better by an investor like him i mean obviously he has more money to play with than say a day to day and i just don't i mean but he's still seeing that value. sure he absolutely is well there's a couple of things you know big queen is superior in a few ways to gold and that's not exactly way but in a few pretty specific ways one is it gold is difficult to transport it's not very

portable obviously because it is because it's all digital so it's much more liquid and you can and you can move it around if you decide you need to use that point at some point to cash that out and actually use it it's much easier to do than gold as well and i think just overall if you look at the future of money storage. currency in general it's easier to use something like a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you store it where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace boom bust co-host ben swan thank you very much for breaking that down for us. and that's it for this time because boom bust of the brand new portable t.v.'s of ale on smartphones through google play in the apple app store by searching portable t.v. and you can also catch us as always at youtube dot com slash boom bust r t c

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i'm just. what. the world according to shift. today we continue our coverage of the frail cool in venezuela we also reveal why your health insurance may get even more expensive bridgette older to you show starts now. the war. time president santos for our top story today we turn to venezuela where at least 34 mercenaries have now been arrested for their role in last week's failed coup attempt and a botched plot to murder president nicolas maduro 2 former u.s. army green berets are among those in custody.