this is the one business show you can't afford to miss friendship or in washington coming up here to brew in hong kong as a protest against china have the region we take an in-depth look at what is unfolding in the economic repercussions for one of a just financial. south america has emerged as a new hotspot for the copen 1000 outbreak as brazil now has the 2nd most infections on earth straight ahead we take a look at the situation in latin america's largest nation and around the globe as

traditional currencies are facing fluctuation amid the pandemic how is fin tech bearing we take an expert look at the state of digital currencies and how big this standing wave attack showed today so let's dive right in. and thousands of demonstrators took to the streets of hong kong on sunday to protest china's newly proposed national security legislation for the city local police reported at least $180.00 arrest mostly due to unlawful assembly and disorderly conduct in a public place as protesters wind the streets of a popular shopping district in the city now the national security law in question would ban succession and subversive activity as well as taking on foreign interference and terrorism in the special administrative region on monday the chairman of the standing committee of china's national people's congress said the legislator is committed to passing the law. gen should. remain committed to upholding the law based governance in hong kong and the. constitution into special

administrative region z s. i'm just sick lost 3 find the system for interpreting the basic laws by the n.p.c. to the north and establish a sound suspicion effective enforcement mechanisms why don't the national level for safeguarding national security as you do to regions. and the prospect of mass protests similar to what we witnessed in 2018 said hong kong's hang seng index into turmoil on friday alone the index lost 5.6 percent its worst performance since july of 2015 meanwhile officials in the united states have taken issue with the proposed law secretary of state mike mike pompei o said last week quote called the proposal disastrous and wood said it would quote be a death knell for hong kong's autonomy and during an interview with n.b.c. on sunday white house national security advisor robert o'brian said it's hard to see how hong kong could remain the asian financial center that it's become if china

takes over adding the u.s. could impose sanctions on china if the law is passed under the hong kong human rights act of democracy and democracy act of 2019 a spokesperson for china's foreign ministry responded the possibility of sanctions saying if the u.s. insists on hurting china's interests china will have to take every necessary measure to counter and oppose this so let's go ahead and get some expert analysis on the economic impact of the law and the resulting protest with john quelch dean of the miami herbert business school and bus co-host christi i thank you both for joining us today christy i want to start with you here how is the u.s. likely to respond to china implementing these national security laws on hong kong. well most likely the u.s. will resort to additional sanctions and other forms of economic punishment so hong kong will also be punished the city will likely be downgraded from exceptional change sides but the u.s. and this witness all and some very heavy financial hits as a global financial company will likely leave an overhang all of this major concern

that china and the u.s. are about to engage in a new round of trade wars now this is the biggest threat to the economic recovery and we're starting to see it unfolding now beijing is preparing for yesterday allegation by doing literally the one thing that in theory it's president more than anything to. in the currency the p.b.s. the fix the r. and b. at $71209.00 monday which is the weakest bank since 2008 so while u.s. markets are closed monday in observance of memorial day asian and neck scenes closed flat as property stocks and real estate developers in hong kong and mainland plunge up to 8 percent and are doing quality i want to bring you in here i want to look at china's currency as the spread between spot us d. and c. an h. and u.s.d. and c. and y. is likely to become more volatile in the coming days what ramifications in feedback will we expect to see in the markets and other risk assets. the spread has been between c n y and the u.s.

dollar floating between. runs around about a 5 percent spread over the last year in other words while volatility may increase a little bit i don't expect to see the volatility being enormous we've been in this situation before last year the markets were able to absorb that surge of demonstrations in hong kong if you look at the hang saying at the moment it's around about 2122 percent off its 52 week high which is about where the dow is off of its $52.00 week high so i don't think we should necessarily exaggerate the amount of financial damage the markets are going to suffer in the short run are and now kristie i wanted to come back to this now hong kong's finance chief has actually argued that the national security legislation will actually help improve bit the business environment rather than harm it how do you see that happening.

well there is a lot of fear and concern over the uncertainty of these new laws but a big portion of it is being twisted out of context saying that this is aimed at limiting hong kong's autonomy and freedoms and while yes it is undeniable that these new resolutions are aimed to prevent threats to national security by outlawing acts of secession and subversion which then can be taken as limitations to freedom of speech the main purpose of this however is to protect the general public while targeting the minority of people who are suspected of threatening national security chief security john lydon pointed to the growing local is terrorism in the city as there have been more than 10 cases involving explosives since last year now the raw material news and the method of attacks were all very similar to terrorist incidents and foreign countries so at the crux of it the main focus is really at national security and protecting the public and ensuring business continuity with in hong kong so mr asian is still expected to continue to uphold the freedoms of information speech and ensure the rights of foreign

investors in hong kong and that has not changed at all so in a lot of ways it is being dramatically twisted and blown out of context like the slippery slope fallacy no didn't call chung kong is home to thousands of u.s. companies how are they fairing in this this uncertain climate i mean after investing hundreds of millions to build out and establish an asian h.q. do you think they're going to completely abandon it or pull out i mean you're saying this is kind of overblown economic reaction or do this business is actually have the long view that this is just another bump in the road. yes around about 275300 u.s. multinationals that have their regional headquarters in hong kong these days a regional headquarters tends to have a much lower headcount than it did around about 5 or 10 years ago and many of these regional headquarters and now greater china headquarters the a.z.n.

headquarters might be in singapore and there might be a separate unit overseeing japan and korea the fact is that the asian market is now so enormous that a single regional headquarters just doesn't do it i don't i don't expect to see many companies abandoning hong kong for singapore at this point the greater china market is so important and proximity to the greater china market is essential ex-pats prefer to live in hong kong and now kristie i wanted to actually get your follow up on that what do you make of this situation how is this going to affect business as the asian business h q. well in terms of business i think professor college was right i don't think that this would result and companies pulling out however this is very this is very crucial in terms of it being a financial hub because as we know been since large the quiney capital for finance in asia and the fact that i.p.o.'s it within hong kong dominate and surpassed that

of the new york exchange years ago so this this new regulation means that it will be viewed as less attractive as a form of investment capital and essence or so from now on in quotes actually kind of want to hit on a little bit of a different story as well revolving around china u.s. relations after resisting pressure from the u.s. prime u.k. prime minister boris johnson is apparently preparing to phase out the use of weiwei equipment from the u.k.'s 5 g. network what happened here and what do you make of that quick switch. so i think as relations between the us and china are becoming much more negative in a in a very multi-dimensional way it's no longer the case that the tariff war is the sole focus of those disagreements certainly the effort has been made by the us to turn the screw on the huawei which in a sense is china's flagship international company and what we're seeing here is i

think the us is lining up its allies and we saw australia last week lining up and we're going to see the u.k. this week lining up i think it's just all part of the effort on the part of the u.s. to get it stocks in a row so to speak and what's going to be an ongoing an ongoing confrontation with china at least for the foreseeable future until the election and now kristie i want to your follow up on that one as well i mean is this all due to the pressure from the u.s. that the u.k. has made this decision or is it something autonomous on its own. well this is probably the latest of the political drama between china and the us the u.s. is certainly putting additional pressure on the u.k. and they even furthermore they even blacklisted several more companies over the past weekend that were accused of spying and having the support of the chinese military and so those who are particularly focused in the fields of artificial

intelligence and facial recognition so what that means is that these companies are now prevented from buying u.s. new technology on the grounds of national security and basically they're forcing the same regulations that they previously put on way and presenting it in that sense so among these companies added to the list now are it she who an internet security company and cloud mines a cloud computing company so a lot of this is just further more evidence that the u.s. is now submitting to the u.k. to show or to try to shall that these technologies are going to be very dangerous and that the u.s. and the u.k. should all be very worried about china and this in their technology dominance especially in the age of 5 g. and a i where we have better tech that means say you know more political our robust co-host christiane and john coltrane of the miami herbert business school thank you both for breaking that down for us today.

on the trumpet ministration announced sunday the u.s. will ban entry of non-citizens traveling from brazil as latin america's most populous nation has recently seen a spike in crow virus cases the new rule will take effect late thursday and these new restrictions will only apply to non-citizens who have been in the country for up to 14 days before attempting to enter the united states so let's take another global look at the trends and spread of the corona virus with r.t. correspondent site have a juror let's start with brazil where we today. brand the world health organization has declared a south of there. as the new epic center for coronavirus specifically with brazil being the hardest in fact this week they passed both spain and italy internal to total confirmed cases and is now number 2 in the world surpassing 3 165000 cases and with over 22000 deaths a let's take

a look at what's going on in brazil in details now on may 22nd so far they had the highest cases so far with over 22000 just in one day and moving over to deaths we're seeing in brazil in just one day on may 21st they had over 1100 that it's so grand what's even more troublesome is that all of these numbers that you see behind me that very scene behind me is that brazil's testing levels are extremely low and to give you an example in comparison here in the u.s. has run about 45000 tests per $1000000.00 people now in brazil that rate is only about $3500.00 per $1000000.00 people so many health officials fear that the real numbers there might be at least $20.00 to $20.00 times higher than reported and

specifically the indigenous people in more rural areas many of them in the amazon region where people can only go to the hospitals by boat or an airplane are out and crease real risk and whereas the death rate elsewhere in brazil is about 6.5 percent in the amazon that's about 12.6 percent you know you've been tracking what's happening throughout the rest of latin america america where the numbers there. so taking a look at a lot america it's not just brazil it's the entire i should say south america that's also extremely vulnerable where the continent has a population of over 400000000 people so peru has. reported the 12th highest number of cases in the world with over 120000 confirmed cases and that's even more than china and chill day is reporting over 73000 cases now looking over ad ecuador and they've seen the most deaths per capita in the region with

18 per 100000 people and then colombia has over 21000 cases argentina about 12000 believe 60 to 100 venezuela i live in a 100 and paraguay and you're going a they have about a 1000 less than 1000 cases and again what the problem is that many health officials say that these numbers are actually a lot higher than reported on health care services are reaching full capacity there and shortages of personnel and equipment may become a serious concern but just like any other region that we're seeing now south american countries are facing a very tough balance between keeping the economy open versus curtailing a spread of the virus different you know moving back up to the u.s. here we had the big holiday weekend where actually monday today memorial day people were hitting the beaches and going out and kind of it appears that people may be getting sick of the whole social distancing measures what's going on there so over

the memorial weekend there's been packed crowds of beaches in florida maryland georgia virginia and indiana and most without even wearing a mask and not been taking any kind of social distancing either and it wasn't just the beaches brand a video clip taken at a lake of the ozarks and missouri and posted by a local television television anchor showed party goers packing a pool so it really does appear that a lot of americans have forgotten about the dangers of the virus and how it spreads our to correspondent side savage or thank you for keeping us up to date. quick break but here because when we return is traditional currencies are facing fluctuation amid the pandemic. we take an expert look at the state of digital currency then how big point of spending will be right back in a flash. in

a new cold war with china it is not coherently explain to us why even worse is the strategy there isn't one also yeah.

drugs has come from unscrupulous dealers from pharmacies to in every state in the united states we've seen very sharp increase in the number of people seeking treatment for addiction to prescription opioids invented america under the banner of medicine persisted with the pain that instead of trying to wean him off though she did. their dose after dose if your dose and really became his drug dealer who's to blame patients manufacturers. and welcome back it looked the last week like it was about to finally break back through the 11000 dollar mark but it didn't quite happen and the world's largest

crypto currency has dropped back to around the 9 $1000.00 level so what happened and what will it take to get bitcoin to break out of this current spot joining us now to discuss our bus co-hosts christiane and ben swan are crypto experts i mean we have a lot but you guys are the best now kristie i want to start with you what happened last week and where are we headed this week. well brand declines rally got rejected at around the 10 k. mark and that is a major level of resistance that we've been banging on for a couple months now so we're consolidating right below that in the mid a thousands now so the entire reason is because miners are the ones right now contributing to the selling pressure they're now selling more than they my and part of this is because the break even cost of big mining is now at about $12000.00 following the having and given that the price of big question is actually right now nowhere near the $12000.00 mark this means that miners will have to sell a portion of their existing supplies in order to cover operational costs so in the cup the currency market right now there are 2 completely unmatched sellers miners

and exchanges so minor sell into the market in order to cover their costs and exchanges tax the traders and sell on to the market right now the miners rolling inventory is above 100 percent which means that the miners are spending more big point than usual so that's going to remain a temporary overhang on declines rally on tell that solid eights and i'll bet at least one well known investor is warning people to stay away from big corn peter milou the chief investment officer at wealth management firm creative planning told c and b c that every bear market presents opportunities and it's tempting particularly for younger generations to look for speculative assets now there is no need to go over into the speculative world it can be quite become a trap for spectacle of investors. well i think big point can be a trap it just depends on how you view it look easy body who views it as money flipping is obviously going to find themselves in a tough spot that's what happened in 2017 when you had a lot of people who got into it because they wanted to make quick money get in at $1.00 price and then watch it you know jump up $234000.00 and then jump back out

again but that's not what the coin is the here's the weird thing about when when investment experts start warning against big coin if you go back over the last just the last 5 years and look at the value of what bitcoin has done and the growth that it's had it is outperformed every other currency in the world it's outperform gold in fact if you take the biggest stocks out there amazon google netflix outperforms all of them over the last 5 years and then vestments or about long term plays it's not about making a quick buck so the idea that it's not a good investment doesn't make much sense now there is volatility in the market there's no question about that but if you look at it over a long period if you get into big point you say i'm going to be in this for at least 5 years maybe 10 years then i think so far history tells us it's a pretty safe bet you know kristie the world economic forum revealed its presidio principles on friday block chain bill of rights according to the nonprofit focused on fostering diplomacy and international business partnerships what did this block

chain bill of rights actually do. well this is certainly an entrance and it's kind of a step for regulators in order to try to contain what role blocking will play in the future so the world economic forum is now creating this bill of rights in order to lie and buy that 2nd leaders policy makers and consumers and this mission of how cute as can be protected as blocking develops so right now the outline of this is primarily focused on the right to own advantage data the right to data protection the right to information about the system and the right to understand about what we saw isis and while all this sounds well and good like a big step forward for the industry those community really can't help but wonder if this is all kind of bluff because the entire point is to manage your own do. in a trust system so you own your own data and big quite as meant watch and it's meant to cut out the middleman. brokers cut out all of the intermediary so it does seem like that they're trying to fit something that works completely fine on its own

into the existing system where there's additional regulatory oversight and additional oversight on top of it even though the system this trust the system really doesn't need that. yeah it's going to say i think that's a really good point i think it's important for people to remember that exactly what chris he just said that the core of blocking technology is to remove government and remove authorities from having control over the system because when any government or authority has control over the financial system the banking system the legal system media systems whatever the systems are whenever you have authority that's in control of it they can to some extent game that system and control it and they do we've seen it happen time and time again so the whole point of the blog change system was to protect against that the idea that you're going to have to now create a bill of rights that is then somehow subjected to some kind of agreed upon the world economic authority gives me a lot of pause about what this is actually about is this actually about creating

greater transparency is it about us owning our own data or is it about trying to insert a centralized authority into the block there's certainly a lot more. that is going to say that it's about inserting an additional arbitrary auditing system that these regulators just try to implement on top of the system that works perfectly. and already has the trust of this entire network and the consensus of the entire network on top. ben swann and chris thank you both for joining us and breaking that down for us. thank you and finally e sports has become more widely accepted as professional sports has been mostly shut down due to the pandemic in the world of race car driving this is even created the opportunity for professional drivers to get behind the wheel of simulators while still taking on follow fellow drivers in competition now we've spoke about the millions of viewers nascar has received as they broadcast these events instead of real racing but unfortunately this can create the opportunity for cheating and

that is exactly what happened in formula he's race that home challenge driver daniel abt has been disqualified from future events required to forfeit all points earned during these events and ordered to pay 10000 euros to charity for illegally hiring a professional even sports player to compete in an official race now according to the b.b.c. the 27 year old driver hired programmer lorenzo or thing who has also subsequently been disqualified from future events in the series called challenge good because of the scandal fellow drivers had suspected after of using an impostor and called attention to the situation asked for his part apologize for not taking the situation and the races seriously and that's it for this time you can catch boom bust on the brand new portable t.v. apple bailed on smartphones through google play and the apple app store by searching portable t.v. and portable t.v. is having a whole channel dedicated to gamers around the globe portable t.v. gaming system is powered by watch mobile watch mojo one of the most trusted names in games you'll see new came in content gaming news and even cool movie reviews so

download portable t.v. now this is your resource for everything gaming and to get our live r t america programming as well keep an eye out for a variety of content coming very soon buy that now a portable t.v. the next time. cup and the full entire steam account way to go through the food. bank itself mukti about. closing this way got to dog so hard not to think of the mother disappeared this moment the look of a coward and i know from the start then if. this is the only thing that we do is

music because everybody fights in his way. through our you can call the 50 pound is worthless woody allen called the ability to get the payment on the. what i think is this is the funds that is a constant. problem drugs don't always come from unscrupulous dealers but from pharmacies to in every state in the united states we've seen ferry sharp increase in the number of people seeking treatment for addiction to prescription opioids and invented america under the banner of medicine persisted with the pain but instead of trying to wean him off though she just goes after dose after dose after dose and really became his

drug dealer so who's to blame patients don't use manufacturers all the government. is you'll be a reflection of reality. in the world transformed. what will make you feel safe. isolation community. are you going the right way or are you being led. away. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or a made in the shallows. markets

our collective outcome of all interaction by human right markets it's a human construct all the interaction from a by humans in the market create our future reality and from negative interest rates are now telling us that we're heading into time with negative time closers going backwards in time. you cannot be both with the yeah you're right. i am.

not at the to be. good at a folks dennis miller here still at home and i hope you're all well joining us next as a great comedian you're going to love this guy tom papa i know usually is probably not to preach but you're going to love here and this guy talking about what we might be missing in life and especially in these times how we have to pay attention to well don't sweat the suppose a big stuff focus on the smaller more meaningful stuff tom papa right up to the sun dennis miller plus one. hey folks welcome to dennis miller plus.