i. this is a boom bust the one business show you can't afford to miss and washington coming up china is engaged in a whole of state effort to become the world's only superpower by any means necessary the head of the f.b.i. has issued some scathing statements about china as the united states continues to ramp up tensions with the asian superpower straight ahead we dig into the details and the growing tech battles between the 2 and there has been a new move in the north stream to pipeline saga unfolding in europe we take you on the ground in berlin to break down the new developments and why the u.s.

is pulling out all the stops to halt the project. amid rising social pressure something passionate sports teams are looking to change their mascot but what could the economic consequences look like we take a look at the issue and the sponsors putting pressure on the team to change with a packed show today so let's dive right in. and china is the greatest long term threat to the united states those words are from the f.b.i. director christopher ray who blast the chinese government in a speech made at the hudson institute raise comments about beijing are wide reaching include everything from accusing china of attempting to become the world's only superpower to claiming that china has engaged in a campaign of theft and malign influence now reached the point where the f.b.i. is opening a new china related counterintelligence case about every 10 hours. of the nearly 5000 active f.b.i. counterintelligence cases currently underway across the country almost half are all

related to china and at this very moment china is working to compromise american health care organizations pharmaceutical companies and academic institutions conducting essential covert 1000 research. the f.b.i. director wept on to say that china manipulates politicians on a local level as well as businesses and journalists china often pushes academics and journalists to self censor if they want to travel into china and we've seen the chinese communist party pressure american media and sporting giants to ignore or suppress criticism of china's ambitions regarding hong kong or taiwan this kind of thing is happening over and over across the united states. in response the chinese foreign ministry says that these comments are part of a new cold war with china. after the action of the han the in the.

raising remarks ignore basic facts and are full of political lies it fully exposed is deep rooted cold war thinking if an ideological prejudice china firmly opposes this they know you will. i would like to stress that some u.s. politicians have recently made unwarranted smears on china playing up the so-called china threat and attempting to divert public attention and conceal their own problems with their plots are clearly seen by the world and will by no means succeed. there's a lot to unpack here so joining us now to do so is boom bust cosen investigative journalist ben swan and host of economic update professor richard wolfe thank you both for being here now professor wolf i wanted to start with you here but we heard f.b.i. director ray say that half of the bureau's 5000 counterintelligence cases deal with china is this such

a broad brush that makes these statements kind of appear as if china has its hands in quote attacking every part of american life i mean what do you make of all of this. well i think this is absolutely kind of over that it must have been a decision to rather ratchet up the cold war language that then there will be not now for 2 or 3 years it's sort of ironic to fuse the chinese along to be the world's superpower if you are in fact the world's only superpower as you say so it suggests what most of the world believes that what is going on here is that the united states has not heard that another country is able to grow its economy stache the united states that's been. true for 20 odd years it's changed a lot and now the united states is going to have to work out some way to live in

the world where it's not anymore alone that the economic will now you should do that in a balanced way but what we're seeing instead is lots of overheated political rhetoric that's only going to make working it out harder for all of us and a war in this age with nuclear weapons is so crazy that i'd like to believe that's not part of what's lurking here and now ben one of the statements made by the f.b.i. director claim that china has engaged in where is my quote here economic espionage what's for a significantly is he claiming when he talks about economic espionage. yes so essentially what the f.b.i. director said and i want to read you what he said here he said that as you said economic espionage was a term that he used but he said that that link to china has increased by 1300 percent saying those called the stakes could not be higher and the potential economic harm to american businesses and the economy as

a whole almost defies calculation he went on to describe what china's doing as the largest wealth transfer in modern history here's what's really amazing about that is that china is accused of attempting to conduct economic espionage and shift american money to itself meanwhile not a word was said about the fact that massive numbers of american corporations have outsourced jobs to china in order to boost the bottom line for shareholders and to make a lot of goods here in the united states very cheap by not paying american workers to do that work where was the criticism of that i mean you can't act as if china is alone in this wealth transfer a lot of the wealth transfer that has occurred in terms of american jobs going overseas was it initiated by china it was initiated by american corporations and it's followed up today by american corporations i know professor wolf i mean obviously we talk about how the trade war and the battle with weiwei could create this trade or this cold war that obviously we're discussing and that may be where

we're heading but i mean how much of christopher ray's comments are really just to to back up this push on trade to back up this push against tech and when it comes to why way is that where we're seeing what we're seeing right now. i think that's part of it i think then it's very very present at the in what he said decision to move production to china was made by american corporations no one held a gun to their head they understood if they go to china they have to give the chinese something and what they gave them was a share in the technology and what they got in return were much lower wage workers and access to the chinese market which is one of the biggest and fastest growing in the world a good deal for china but equally other very good deal for american corporations that's the honest truth the reality is that technology is an area where the chinese

are strong very strong while lay has technologies that american companies will need to access sooner or later so going after them is a kind of a problem cation if you like but it only makes the tensions worse when what you really need is to work out a way to blend the 2 are commonly used to coordinate em so we don't get in each other's way and that requires some accommodation from the united states which hardliners like this f.b.i. person seem not to want to think about or see and some colors it all in very extreme ends which i think makes the situation worse and quickly before we wrap up you know if we've heard all the conversation about why weigh in c.t.e. now we're talking about tick tock and banning other chinese apps i mean where do we see this technology war going. well i think we're going to see a ratcheted up and i think professor wolf is correct when he says that the chinese

are way ahead in terms of a lot of this technology certainly way in their 5 g. technology so the u.s. does need that but i do want to say you know one of the big criticisms that's been love leveled against the chinese over this national security law we did see you know as we talked about previously the fact the tick talk is no longer going to be active in hong kong as the english version the chinese version. danceable essentially take over there but while there is criticism here of that the u.s. is doing the exact same thing with ratcheting up talk and passing laws to ban the chinese from operating here to stop foreign influence what the chinese are doing the same thing there it's literally the same game is being played by both countries while pointing fingers at the other plenty more to cover but at last we're out of town ben swan and professor richard roth thanks so much for your time. and the trump administration has officially started the process of leaving the world health organization following criticism of the institutions handling of the coronavirus pandemic now according to reports the white house has submitted

a notice of withdrawal to the united nations secretary general and the u.s. congress which will be effective july 6th of 2021 leaving the w.h.o. does require a one year notice before becoming final now the news comes amid spikes in cases of the coronavirus within the united states so on that note let's take a global look at the spread of the virus with r.t. correspondent science have it or so where are we on wednesday so brenda where we are right now global cases there's now more than $12000000.00 cases worldwide global deaths there's over $549000.00 taking a look at the u.s. there's over $3000000.00 confirmed cases right now which is over 25 percent of the full global case says u.s. deaths there are $134000.00 so just so you're seeing the numbers right here that's nowhere from being over or under control the virus which is why it's so daunting that the trumpet ministration has announced that the u.s. is officially was drawing from the world health organization you know where the

u.s. is w.h.y. the largest donor and provides it was more than 450 $1000000.00 per year and this move is being criticized by lawmakers here in the u.s. and by other world leaders since the w.h.o. is the main organization that cordon its efforts to get personal safety and medical equipment like ventilators and other critical supplies to hospitals around the world but president has consistently accused the organization of aiding china and allegedly covering up the origins of the virus and allowing its spread and brand this is a very dangerous move by the u.s. during a once in a century global pandemic which could also interfere with global clinical trials essential for developing vaccine as well as. efforts to trace the spread of the virus globally lastly i just want to mention that the pullout one take effect until next year like you said which means it could also be reversed by a new administration and that's exactly what joe biden the democratic presidential

nominee has said that if elected he would reverse the decision on the 1st day in office brant. how does the u.s. compared to other hot spots around the world so a no other place in the world has more confirmed cases growing as quickly as there are in arizona florida and texas the u.s. states and this charge now it ranks the countries with the most come from new cases over the past week now just that for population size and treats each u.s. state as if there were a country because number many u.s. states have a larger population than some countries now the only 3 countries with outbreaks as severe as across as somebody states are a bad man qatar and oman not 3000000 stern countries with large numbers of very low wage migrant workers and these workers often women very cramped housing brand without any kind of medical care now while we keep hearing from the from president

trump that the high numbers that we're seeing in the u.s. is due to testing but that's not completely true since the u.s. does not have a high testing rate for a developing country archie correspondents are terrible thank you so much for keeping us up to date. and time now for a quick break but hang here because when we return as some sports teams are facing heat for their mascots pressure is mounting for them to change their names could such a move mean for foreigners well we'll bring you the details and as we go to break here are the numbers at the close. eye. on.

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you cannot be with yeah you like. to welcome back despite months of pressure from the united states denmark has allowed the russian nord stream to pipeline to continue development through the nation and for more on the development of the controversial infrastructure project which are things over to our correspondent peter oliver in berlin. it may be loathed by politicians across the us but denmark has given the green light to the north stream to gas pipeline project to come to new with all important one to see

pipe playing vessels being put to work the danish energy agency has decided that north stream to a.g. also may use pipe playing vessels with anchors in connection with the construction of the north stream 2 pipelines the pipeline is a joint project between russia's gazprom and 5 other european companies when it's finished it will bring an extra 55000000000 cubic meters of gas directly from russia into germany and these particular danish ships are crucial to getting the job completed as we expected the da satisfied our request we will implement the project in accordance with the building permit and environmental impact assessment we continued to consider various options for is key. and in due time we will inform about our plans the reason this specialized equipment is so important is that the pipeline is being laid in some particularly choppy waters nothing to do with

nautical conditions more to do with the 50000 tons of chemical weapons that were dumped on the sea floor in the area during post world war 2 decommissioning the response from washington to the project is being equally toxic the united states says this pipeline will make europe overly reliant on russia for energy it'll also lessen demand for u.s. liquefied natural gas last month a bipartisan bill was introduced into congress which could see u.s. sanctions imposed on european companies and individuals involved in north stream 2 totally unacceptable says the german gas lobby you don't have such a tightened and ritu active sanctions law would be an unacceptable encroachment on the e.u. sovereignty and energy security of western europe the problem for the united states is that their product liquefied natural gas is more expensive for the european

market and washington wielding sanctions like a club with which to be those that don't do as they're told is hardly going to win friends and influence people in european capitals these are all over the boom bust in berlin. and now to a little bit of news out of the world of sports last weekend the n.f.l. is washington redskins announce the team would undergo a quote thorough review of the team's name a big criticism that the name is racist toward native americans now the latest upward over the name comes amid social unrest within the united states but the mascot has been at the center of controversy for decades the team's owner dan snyder who bought the team in 1990 previously said he. would never change the team's date so why now are we seeing this review well maybe due to the major n.f.l. sponsors like nike and pepsi getting pressure from investors to cut ties with the team unless they change the name fedex which actually owns the naming rights to the

team stadium also received pressure and issued a one sentence statement saying we have communicated to the team in washington our request that they change the team name while target and wal-mart have stopped selling the team's gear in their stores and nike has also removed branded merchandise for the redskins from their store as well meanwhile and they'll be franchise the cleveland indians has also started a review of their name so let's go ahead and talk about the dollars and cents of the situation with victor madison professor of economics at the college of the holy cross with an expertise in sports economics thank you so much for joining us today mr matheson or professor matheson as it were and now these calls to for the washington redskins in cleveland in the indians to change their name go back years in fact the indians don't even use chief wahoo that logo generally anymore and ownership and has been very reluctant while these sponsors threatening to take away revenue especially the stadium sponsor in the redskins situation actually move

teams to change and really how much money is at stake here. so that's the real question right. it's expensive to change a mascot so people are obviously concerned about that it might cost a team maybe $10000000.00 in terms of changing signage paying for developing a new mascot that's something but remember that's that small amounts of money when talking about a team like the like the washington n.f.l. team that generates about $500000000.00 a year in revenue so what the teams are really worried about here is whether long time fans will will leave the team if the name is changed. words are unfounded if we look at the history of for example college teens who changed their names over the last 20 years again mainly means using indigenous native american language but that's still the worry of the owners like. and now

it is a good point to make that the washington f.l. team is actually i believe the 5th or 6th most valuable in the n.f.l. despite what has been a good couple of years on the football field that's for sure now do you think that we'll see or if we were to see more importantly a full boycott from some of these sponsors because that's where the n.f.l. really is making the money if we see a full boycott from from some major sponsors like pepsi say we're not going to is spend any money is that going to move the needle a little bit more because it is really going to hit that bottom line. so if any major national sponsors pull the plug that puts pressure on the washington owner from the rest of the teams there because that's money that shared by the league as a whole i think however the biggest issue here was when fed ex said that they were going to request the name to change because remember fed ex is the stadium sponsor of the mini right sponsor of where the washington d.c.

always. that's money that goes directly into dan snyder's pockets and doesn't get shared. throughout the rest of the league so if they were to hold out that that's a naming rights deal oh well over $10000000.00 a year that's the sort of thing that really hurts and no matter how much snyder wants to hold on to that that name. you know. 10000000 dollars 20000000 dollars a year of local funding there that's where for sure that's the sort of thing that moves. and now we also should know i mean as you said they always say like will people come along well frankly in washington d.c. there is a basketball team in the washington wizards well they actually had to change their name from the washington bullets if you're not familiar so this isn't an unfounded situation like you said there are a lot of situations they give americans a college sports as well but but shouldn't this actually be heavily embraced by this ownership investors in the team and really the leagues because of the a massive amounts of money that merchandise sales will make with renewed interest

in these teams. right this is what never made sense to me at all is that if you look throughout europe for example in now on soccer teams they will change the style of their jersey every year or every other year at the very least because again that's an entirely new generation of people who have to buy up the merchandise so you know again you do worry about some people who say i will never go back but that's really a minority of all slams what you do get is a huge number of people who 1st of all will clamor to buy the last of the remaining . 6 when they're there and of course will buy the new product may come in really that should be a bonanza not something. and of course don't forget 3 to 4 years down the road then we have throwback jerseys that we're going to have the washington redskins may come back and frankly it doesn't sound like anybody going to stop you from going into

the stadium if you still have a redskins jacket because that may be all you can afford or something like that now i want to hit on one more point before we we do go here july is going to mark the return of 3 of the 4 major leagues here in the u.s. the n.f.l. doesn't obviously start until the fall but this is about the bottom line is getting started but what happens if these leagues are forced to shut down again every single league that we're seeing in the in baseball in the m l b the n.b.a. and the n.h.l. they're all actually seeing you know positive tests of covert so it's hard to say that this is going to continue is this going to be a real problem moving forward as they try to finish out their seasons. but is going to be huge problem now mind you i'm not that kind of doctor writing to you but we've already seen major league soccer right moving back in as well as the national women's soccer league they were the 1st movers here in the u.s. already they had game canceled last night between the chicago fire and their opponent because again a positive. virus belle's burn moved out of it's moved out of.

its participation for major league soccer in the orlando team dropped out of. the national women's soccer league tournament so the fact is every lead that's trying to do this in the united states has had to start has had problems going forward and it's hard to believe based on the virus numbers we're seeing especially throughout the so that this is not going to you know it's going to be very very hard for these i mean and that's exactly what we're thinking is i mean if you if you look at it if you're testing all of these people whether they're in a bubble or not and frankly i mean sadly not everybody is going to take it as serious as they need to and this could really cost these leagues a lot of money in the end victor mattson professor of economics at the college of the holy cross thank you so much for joining us today. thank you for having me. and that's it for this time you can catch boom bust on demand on the brand new portable t.v. up a billboard on smartphones and tablets through google play on the apple app store by searching or double t.v. t.v. can also be downloaded on newer models of samsung smart t.v.'s as well as roku

devices or simply just go to portable t.v. see you next that. so we were sisters in terms he's. going to be listening. to. your mother he's just going to come up with 'd is that they did you hear that oh. i'm talking about is a very international community. meeting yesterday. with

just a few people as this. meeting. indeed. there is a push at the good you still look at the results of their new country cooperation in thought they go is everything produced the loser with it if one comes to do with the above 30. 5 behave i would affect all day but i decided not to take his life. would i get can tell you that. time after time called parisian to repeat the same mantra sustainability it's very important it's accelerate the transition to sustainable transport sustainability stay number man at a more equitable and sustainable well. they claim their production is completely hamas followed this nuclear. it's a compass number articles and got it done this on the books on companies want us to

feel good about buying their products while the damage is being done far away this is 2nd eldest we don't even and i mean let's just keep the sun moves i mean listen we didn't want anyone and i'm studying them to be better than that understood look to what is going in. you cannot be both with me yet you want. me to. come.

hey folks coming right up lauren lap because i know you're saying how do i know that name me or just know black she was great in that but now she's got an absolutely killer film streaming on netflix opposite they have a spade called the wrong missy will dive into that title it's an interesting story though but i'm telling you i laughed like 15 times in this movie laura lapis next on dennis miller plus one. a folks welcome to dennis miller plus one we are joined today. well i feel i feel full throated on the interview as i just watched it and she made me laugh uproariously laura lapin is.