no shots. actually felt. well you. know the 1st time in. which your thirst for action. according to even fox news trying is like going to the polls this is because joe biden is such a brilliant and it is or because at the heart of the consensus that tends to make has been badly handled by the president still another the trump brand is a populist in 2006 feet as he has done.

this is blue bus the one business show you can't afford to miss or 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 i came back again 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 analyze the state of trademark squatting as one n.f.l. franchise announced it would be changing its mascot today so 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's a 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 expert taisha as for how the chinese communist party is going to behave and when they don't we're 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 is 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. you have to take down all relations. conflict i'm sure of the deal 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 need hands mate going to factors here are simple number one the united states needs china it has produced 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 on wednesday saying that the u.s. consulate will also be closed. 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 no 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 craft of it would be other american corporations in the last 20 years and it's come because they have it be in the united states to change it is really just more way to china i don't mean chinese market if that were told you would be many of the biggest corporations in america with no real word on there are actually it's out of. and damage and economic crash if you're home words.

there's no real way to say that true. oh no i was going to mean that we're going to go into markets here professor what if i go ahead and finish your point i apologize . not a problem. saying is that those corporations also were involved in bringing goods from china to deny to the states 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 arm but to really dig a couple would be a crisis in the best of times and then this situation literally you would read

me could see 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 us continue to escalate. almost any catalyst now there were reports this morning that on larger than normal number of america's corporate executives are selling the shares of their own companies for exactly that meltdown that something very serious so i'm anything in the way of surge in that and then it. anything in the way of a stalemate in congress so that. there are only gloria will compensation is.

congress where 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 rally is 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. and 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 his vision as and as mit as well as other companies in the fields of ai semi conductors and smart manufacturing boom bust cohost christiane professor richard wolfe thank you both for your time thank you thank you. 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 which 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. vaccine 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 just a reminder here there's 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 bax neither of which have ever successfully brought a product to market have received 500000000 and one point $6000000000.00

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 u.s. is really heading in the wrong direction with new cases now just in the last 24 hours over $1500.00 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 u.s. 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 shutdown 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 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 bars 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're 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 i know that would be changing its master we bring in some professional malices on this subject but as we go to break here the numbers of the quotes. the old.

china japan and america. the top 3 economies of the world yes so now they are like the tonic plates from moving away so that would be seismically significant. doesn't sound like a friendly cooperative globalized world to name. but a pandemic no certainly no borders and just bought into nationalities. has emerged riddled with the we don't look like scene the whole world beats to be the. judge of. commentary crisis with mr until. we can do better we should be. everyone is contributing each way but we also know that this crisis will not go on forever the

challenges created the response has been much so many good people are helping us. it makes us feel very proud that we're in it together. i 1st heard about we you know. from the helicopter folks in iraq. i think that don't actually go now i'm going to miss military we have never forgiven or forgotten frater the truth of the book and it will be giving you saw he was really starting to have. independent journalists that he's too dark to see a lot of problems to open up an audience. the idea of developing an anonymous digital top dogs and applying it to the media and since. that was

a friends. i didn't destroy and just write it in with me for a short while. in the room one of the world's most powerful news a womanizer during a sandwich and a silver founder to the song to the song knowing. there was a great deal of jealousy the brains for it or the song the fit why won't it be more like oh they have hugh seen all. the saints and. smiled. good time. for. me help julian assange was 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's saying.

according to even fox news trump is like going to the polls this is because joe biden is such a brilliant and it is or because the heart of the consensus is that endemic has been badly handled by the president still another. brand is a populist in the sixty's and he is the one. i. 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 surround 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 holds 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 and 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. adding them to somehow purchase your rights as far as how prevalent of an issue it is there'll 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 the outers and ironically the united states some of the best protections i'd argue 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 wright said and so in this particular case this trademark hog this gentleman and he may have perfected some rights for some trinkets for example cups or mugs or 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 in 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 the 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 in the n.f.l. aside 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've created and what we find is that a recent survey actually was done by the u.s. trademark office and 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 rates if if people inside their country 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. or in another but the fact remains that most of the countries in the world don't require an applicant's approved use and that remains a big problem as was mentioned earlier in a lot of these countries people will apply for the marks and then just. it on them knowing that there are someone interested in them are going to be coming after that and i believe so well years ago one of the more news of the happenings was when apple ate and save millions of dollars to check the street for the i phone and

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 i phone 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 and i was just going to mention

that is 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 fresh 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 it for this time you can catch boom bust on demand on the brand new portable t.v. app 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 newer models samsung smart t.v.'s as well as roku devices or simply check it out at portable t.v. see you next that.

we. ask. problem drugs don't always come from unscrupulous dealers but 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 but instead of trying to wean him off though she did go separate 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 truong is like going to the polls this is because joe biden is such a brilliant and it or because of the heartbeat consensus that tend to make has been badly handled by the president still another theory trump brand is a populist in 2006 feet as he governed as long. as. the british prime minister faces a grilling in parliament over the russia report which condemned the government's lack of action against moscow's alleged influence in u.k. politics. the people of this to this country didn't vote to leave the e.u. because of pressure from russia the russian introduced the prime minister a subtle misreport for 10 months and failed to plump it got it out of the enough of security for a gear on a hot. new controversial law as proposed in the netherlands that could give the

elderly people the right to end their own.