according to even fox news trump is like going to the polls this is because joe biden is such a brilliant and it is more because at the heart of the consensus the endemic has been badly handled by the president still another. rand is a populist in the sixty's. and. this is the bus the one business show you can't afford to miss branch of war in washington coming up the united states has made the call to shutter china's consulate in houston texas further chilling relations between the world's 2 largest economies straight ahead we analyze the rising tensions and how markets are reacting to the growing rift plus as the race break open 1000 vaccine continues to

heat up among medical firms concerns about nonprofit distribution are coming to light later we take a look at the quest for a cure and the state of the corona virus spread around the globe and later in the program we analyzed the state of trademark squatting as one n.f.l. franchise announced it would be changing its mascot with a passion today let's dive right in. and we lead the program with the latest on the back and forth between the world's 2 largest economies as the united states state department has ordered the closure of the chinese consulate in houston texas now morgan ortega say spokesperson for the state department says the decision was made to protect american intellectual property and the private data of its citizens following this decision the houston fire department responded to reports of documents being burned in the courtyard of the consulate general of china however no further details on this incident were provided meanwhile secretary of state

might pump a lot spoke about the situation while in copenhagen denmark on wednesday. we are setting out clear expertise for how the chinese communist party is going to behave and when they don't who are going to take actions that protect the american people protect our security our national security and also protect our economy and jobs that's the actions that you're seeing taken by present trump will continue to engage in those and a spokesperson for the chinese foreign ministry responded to the decision saying china is ready to retaliate if needed maybe function to the u.s. claims a lack of reciprocity in relations with china this is just it's old ploy that's completely unjustified as a matter of fact the u.s. far outnumbers china when it comes to diplomatic missions and staff in each other's country we urge the u.s. to immediately revoke this rainiest decision should insist on going down this wrong path china will react with firm countermeasures the chinese government as a resolute defender of cyber security and we have been consistently opposing in

combating all kinds of cyber attacks and cyber crimes we urge the u.s. to immediately stop the smearing and slander against china on cyber security issues . so let's go ahead and take a look at the economic consequences of this latest move and the impact on relations between the 2 countries with us co-host kristie i opposed the economic update professor richard wolfe thank you both for joining us today professor wolf i actually want to start with you on this this is a big dramatic move to close the consulate in houston what brought about this decision and what does the u.s. hope to gain in doing this. well to be honest with you and with your viewers this is political. yes exactly on relations. i should reveal it doesn't matter that much but it may come to what we were doing there can be done by the public claims that china in the united states.

drama for people who want to believe that mr trump is doing something they were always about the chinese he isn't and he hands mate going to factors you know are simple number one the united states needs china it has greater profits for american corporations then they were able to get here in the united states. now christy sensually the the chinese are basically saying exactly what professor wolf said which is that this is political it's theater it's just trying to rile people up and they're saying that they are ready to retaliate if necessary so what else are we seeing in their response exactly there is no real punishment for closing down this consulate but the fact is it really is just a slap in the face and on the political stage as this is one of the world's oldest consulates in the u.s. since the 2 countries normalize diplomatic ties in 1979 so china vowed to retaliate

wednesday saying that the u.s. consulate will also be close to turn so i mean this is the 1st time in over 40 years that this has happened so it's pretty unthinkable that the 2 sides didn't have any communication at all before escalating this issue so at this point it might be time to consider the possibility that president tom could decide to sever diplomatic relations with china some day very soon and this is a really an unprecedented escalation so further de-coupling is only to be expected now professor wolf what would be the impact i mean not only on the relations between the 2 countries of the economy if we were to as kristie said if there was to be a full de-coupling of diplomatic relations between china and the united states though of course you say like there's other consulates here in the united states so this one in houston obviously symbolic because it's the all this one however you can still do your business elsewhere but what happens if these tires are cut where happens if u.s. pulls out of china and vice versa. well let me just give you an idea of what.

much of the graphic ability of the american corporations in the last 20 years has come because they have it be in the united states to change or way to china i don't mean chinese market if that were told you would be many of the biggest corporations in america with her on there are actually it's at a. time of an demick and economic crash if you words. there's no real way to say that probably true. oh no i was going to tell me that we're going to go into markets here professor well if i go ahead and finish your point i apologize i'll get not a problem. saying is that those corporations also were involved in bringing goods from china to knighted streams wal-mart in all their major department stores

so you'll just moments of chinese goods to the american working class at very low writers if you rank it produced those were didn't this country paying the wages americans began you want to raise the prices of low when at a time when we're already in economic difficulty and that is going thinkable additional burden on the american economy so there's lots of hand-waving like that certain bowler's them but to really dig a couple would be a crisis in the best of times and then this situation literally you were. a man trying to get reelected who are literally destroys everything in the process and now professor what i want to add about about u.s. markets they've been in a melt up mode for the last quarter amid the pandemic but now cases are growing here in the u.s. again the nation's reopening has been halted and geopolitical tensions between the u.s. and china are higher than ever are we at risk of a market meltdown here and what would be the catalyst for something like that as we

see this this issue between time in the u.s. continue to escalate. almost any english now there were reports this morning that a larger than normal number of america's corporate executives are selling the shares of their own company sort of exactly that that's a very serious song anything in the way it was originally planned than anything in the way of a stalemate in congress so the best. candidate or exploiter only gloria will compensation isn't handled by kong congress by the end of this month anything like that or is it still a shoe with these are extremely dangerous alexion games that are being played here you know christine i want to hit on this quick it looks like china is shoring up its strength as shoes in paying rallies china's tech champions and promised continued support for their operations what's the latest in the tech race between

the china china and the u.s. so on some posing of tech leaders was held on tuesday as the tech war between the u.s. and china continue to escalate so this gathering called on chinese entrepreneurs to align their business strategies and their business interests with national means and this speech came amid the rising tensions between u.s. and china and the desire by some foreign firms to reduce supply chain dependence on the country so this is very similar to what we reported earlier on in the week with an financial opting to list as i.p.o. in shanghai instead of new york china is increasingly turning to groom homegrown tech giants and tech champions to compete with the u.s. in china so in attendance i gather where some very familiar names such as hc vision as and as mit as well as other companies in the fields of ai semi conductors and smart manufacturing boom bust co-host christiane and professor richard wolfe thank you both for your time.

and now for the latest in the race for a vaccine the u.s. has entered a nearly $2000000000.00 agreement with drug companies pfizer and bio intact to produce $100000000.00 doses of their experimental vaccine now if the vaccine is cleared by regulators the government also has the option to acquire an additional $500000000.00 doses as part of this deal now it should be noted the vaccine which has done well in preliminary trials is set for late stage testing later in this month according to the companies involved the vaccine would be provided to patients free of charge and this raises the question of whether drug makers are looking to profit from this pandemic during a hearing in front of a congressional panel on tuesday the chief patient officer for merck said the company will be looking to make a profit from any potential vaccine and be selling vaccine at cost of them is very

premature. really understanding the cost basis of leg room that's the no. during the same hearing a representative from the dirt a leading vaccine candidate said they will also expect a profit from their efforts and in just a reminder here there is a lot of money flowing into pharmaceutical companies as part of the operation warp speed program merck was awarded just $38000000.00 from the government while modernity and noble backs neither of which have ever successfully brought a product to market have received 500000000 and $1600000000.00 respectively astra zeneca and johnson and johnson which both testified they would price any potential vaccine at no profit while the pandemic is ongoing have received $1200000000.00 and $4.00 point or 456000000 respectively and of course that list goes on and on so with all of this and by let's go ahead and take a global look at the spread of the virus with r.t. correspondents so where are things so read the us is really heading in the wrong

direction with new cases now just in the last 24 hours over 1500 people have died from the virus here in the u.s. which is now surpassed confirmed cases to over $4000000.00 now globally there's been over 862-2000 deaths about $8600.00 of the deaths have been in the last 24 hours which brings the total confirmed cases out of over 15000000 globally and the top 5 countries with the most cases are in order us followed by brazil india russia and south america but the virus is excel or aiding the fasces in the americas which now count for more than half of the world infections and deaths brant now in the u.s. where are the hotspots where are we seeing surges in cases so a lot of states are actually reporting record breaking numbers of new cases then there are states with the most cases for example california they were the 1st state to shut down months ago but now they've become

a hot spot surpassing the total number of cases of new york but in california. 50 percent 57 percent of new cases in l.a. are reported in people under the age of $41.00 sort of peers that young people are driving the spread of cases in california and also while new york at what point had the most cases or only 28 percent of the total cases of new york actually active right now versus in california were over 75 percent of the cases are active now other searches are happening in florida and texas in florida right now 90 percent of the 369000 cases are currently active in texas 48 percent of the 353000 of the cases are active in new jersey just like new york that have under 25 percent of the cases that are active and then you might think just how much worse will but will this get well here's president trump on tuesday night

who has resumed a starring role in the white house corner of ours briefing after a 3 month gap now the only difference is that he's kept the stage for himself this time without any public health experts. it will probably unfortunately get worse before it gets better something i don't like saying about things but that's the way it is it's the way he that's what we have you look over the world it's all over the world. tends to do that. so what president trump just said is pretty remarkable having and nationally played down the virus and reluctant to wear a mask just until recently but i also want to get to my point earlier that i may just how worse they can get well let's take a look here you know the 1st case of a covert 1000 was reported in the u.s. on january 21st i was 180 days ago we had the 1st case now 99 days later we reached 1000000 cases in april right now we took only 43 days for that number to double to get to 2000000 cases and almost half that time to get to 3000000 cases

and only 2 weeks later we reach 4000000 cases so now these are the confirmed cases and i want to go to the forecast of cases so this is what we are forecasting that by given the current speeds by august 8th we're going to be reaching $5000000.00 cases and then by oktober it's also predicted that we could have almost $10000000.00 cases and a prediction also by the university of washington now projects that over 224000 will die by november 1st based on current scenario brand r.t. correspondents are tablature thank you for keeping us up to date. and time now for a quick break but here because when we return we analyze the state of trademark squatting as one n.f.l. franchise amount that would be changing its master we bring in some professional malices on the subject but as we go to break here are the numbers of the quote.

worst. the big. china japan or america that is the top 3 economies of the world yes so now they are like it's atomic plates are moving away so that would be seismically significant. doesn't sound like a friendly cooperative globalized world so maybe. i 1st heard about you know. from the helicopter for free in iraq.

i think that there are people going to going to this military who have never forgiven or. forgotten traitor the truth of the book it will be getting through so he was really starting to happen. in the pen journalese. you've heard to see a lot of crimes to outnumber the audience. the idea of developing an anonymous digital trombones and applying it to the media consensus to make sense that was affronts. a good control and just right it would be crucial. in the room one of the world's most. unusual rooms for your establishment or silver founder to the song given sunday morning. there was

a great deal of jealousy the brains for the song the fit why won't it be more like oh they have q. seen all. smiles good time. for. me help giuliani sides in solitary confinement in the prison for terrorists oh wait you don't have a live person. i don't see him dying. and. tests what he's saying. i. i i i.

and welcome back the owner of the n.f.l. is washington redskins has found himself in a series of fights lately and one of them surrounds something called trademark squatting in the case of the redskins who have finally agreed to change their name it turns out that a number of possible names are already being held by a man named martin mccauley who calls himself and get this the trademark cog mccauley says that he has offered to give the names to the n.f.l. for free but does what the n.f.l. franchise to donate to organizations of his choosing including those exclusive to native americans macaulay hold the rights to several notable trademark names including monuments americans veterans red tailed hawks and federals the n.f.l. issue aside this actually raised our interest because what exactly does it mean for someone to trademark squat and how prevalent is this joining us now to discuss his trademark copyright attorney preston 1st necked and boom bust co-host investigative

journalist ben swan thank you both for joining us today preston i want to start with you you being an expert in this field i know how much of an issue is trademark squatting and help our audience to understand exactly what that is. so trademark scoring is the concept of acquiring and sitting on trademark rights that someone else might be more interested in with the hope precipitating a transaction or getting them to somehow purchase your rights as far as how prevalent of an issue it is there will always be a race to the various intellectual property offices to try to protect. rights in a particular name or an invention or something like that but squatting itself the occurrence varies over the world and some countries are better protected and better equipped to deal with the situation and ironically the united states some of the best protections are you in the world to avoid this situation now in the situation

of the redskins now this gentleman who has all these trademarks he doesn't exactly have any vested interest in the football team besides maybe being a fan so would a good trademark lawyer for the n.f.l. or for the franchise be able to get those trademarks taken out because he's not actually using them in a sports related purpose. i think they have a pretty good chance the united states system requires an applicant at a certain point to prove that they're using the market they're trying to perfect rights and so on this particular case trademark car this gentleman and he may have perfected some rights for some trinkets for example. apparel but it's a longer shot for him to prove that he's actually using these marks for professional football team and so in that sense it's probably going to be an uphill road for him to out solid rights at these particular arcs and now ben this is especially big

issue for companies that launch in one country and then attempt to move overseas as presidentially just mentioned tell us a little bit about that yeah i think he's making a really good point when he says united states has a different standard than a lot of the rest of the world and what we find is that this is really a huge problem for american businesses setting football on the n.f.l. side a big issue for businesses that try to you know they create products in the united states they trademark those products and then they try to expand to a global business and what they find is that they move their those products overseas and the trademark is already owned by someone else there and it could be an exact replica of what they've created it can be the exact product that they create. and what we find is that a recent survey actually was done by the u.s. trademark office it found only 15 percent of small businesses doing business overseas know that a u.s. trademark of course is regional and it only applies to the united states and so a lot of business owners think if they go to the trademark office they get

a trademark that it extends all around the world and it does not and now preston in what has become an increasingly global marketplace is something we talk about every day here on blue bus are we seeing more cooperation between nations to prevent trademark squatting. i think there's been some meaningful progress in this area but there are still a lot of gaps and so china is one of the countries of focus in this particular area and i think they've made a lot of the improvements they've actually addressed a lot of bad faith filers and are willing to sort of do trademark rights if if people inside their country have attempted to perfect names from overseas companies they've shown a willingness there there are also some treaty mechanisms that allow companies to use. trademark registration in one country as a platform to acquire in another but the fact remains that most of the countries in the world don't require an applicant to prove and that remains

a big problem as was mentioned earlier and now a lot of these countries people will apply for the marks and then just sit on them knowing that there are someone interested in them are going to be coming after them and i believe so well years ago one of the more news or happenings in this area was when apple ate and save millions of dollars to go check his trademark registrant name i phone. now ben as press just push into you know china has been working on this and they just issued a ruling that helps prevent trademark squatting in their country tell us a little bit more about this ruling yeah doesn't pull out prevent it but it certainly makes it easier and well essentially that ruling found is that. essentially if there is a registrant who goes in there and has a disputed trademark they have to show that they had the existence of that applicant's trademark and they reasonably avoided applying for the mark essentially meaning that you have to show that you did not know that i phone was on its way to

china before you went and registered for iphone and that you did so in an actual innocent way as opposed to you went out found a company that you knew was eventually coming this way and you sat on that trademark so china is trying to make some efforts in this area we'll see how all of that pans out based on the discussion you guys at the beginning of the show between us trying to relations right now well absolutely i was just going to mention that as i mean when you look at all the intellectual property issues and some of which the government says is at the center of this dispute between china and the u.s. there's a lot there preston for us necked copyright attorney and trademark attorney as well thank you for joining us ben swann as well to both coasts always appreciate it. and finally video game streaming site twitch dot tv announced that beginning wednesday it would be introducing sports as a standalone category now this is a big move as twitch is parent company amazon has been increasingly getting into streaming live sporting events to launch the new feature

a showcase will take place hosted by former m.l.s. soccer player jimmy conrad featuring interactive content from the n.b.a. arsenal f.c. and the u.f.c. the site also announced the collaboration with 4 major soccer teams including rail madrid and paris st germain now meanwhile earlier this week rapper logic who recently announced his retirement from the music industry after his final album signed a 7 figure deal to stream exclusively on the platform logic says that he will be streaming games some studio sessions as well as guest interviews and that's interest on and you can catch boom bust on demand on the brand new portable t.v.'s built on smartphones and tablets through google play and the apple app store by searching portable t.v. portable t.v. can also be downloaded on new. models samsung smart t.v.'s as well as roco devices or simply check it out at portable the t.v. we'll see you next that.

problem drugs don't always come from unscrupulous dealers but from pharmacies to in every state in the united states we see me 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 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 doctors manufacturers all the governments.

according to even fox news trying is like going to the polls this is because joe biden is such a brilliant end of it or because of the heartbeat consensus that tend to make has been badly handled by the president still another the trump brand is a populist in 2006 feet as he governed as one. i 1st heard about we do know. from the helicopter folks in iraq. or i think it kind of people are going to try to. it's military who have never forgiven or forgotten freighters the truth of the book and the little bitty elite troops he was really starting to happen. in the

pentagon journalese died as you've heard from some serious lot of crimes to outnumber the audience. the idea of developing an anonymous digital phones and appliance and media and since it's something that was a friends. thing i didn't control interest and retain it with me for a short while and in the room one of the world's most powerful news will remain silent during a thunderstorm or founder to the song given sunday morning. there was a great deal of jealousy in the audience for it for the song the 5th why won't it be more like i'll bet you seem all. the same and. says my. goodness. we have giuliani sides in solitary confinement in the prison for terrorists await you know

how it's a live person. i don't see him dying. and i. know what he speaks. the british prime minister faces a grilling in parliament over the russia report which condemned of the government's lack of action against. the people of these these countries. to leave the e.u. because of pressure from russia russian. the prime minister told this report for 10 months. of security for. a new controversial law is.