and for the last 5 years have been on the precipice of being you know the ported to the united states and the president has basically failed a great segment of the american people not the least of which is the american economy and the president has broken his relationships with nato with european allies and basically across the board put america's credibility independence in limbo for for reasons not certainly understood by me and most of the people of this country if you will but stories more insights into everything we're talking about today check talk home it's 1130 the morning here in mosco wherever you choose to end thank you for taking the time to do it. kevin and something often out of a great.

we look at the solutions we look take a deep dive into the issues we've been chatting about all year now today we're going to be talking with the thing with him or also known as an l w the breakdown sod cast been following him on twitter for a long time close to his pod cast you know the great thing about this whole new universe stacey is that people who might not get on get on and then they rise to the top and suddenly they're like wow these people are awesome and i.

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this is the one business show you can't afford to miss i'm sorry month of going to washington coming up india may join the u.s. and pushing out china's huawei from its 5 g. network it's setting up the stage for a more tension between the world's most populous country and you are trying to express optimism on the trade front when new rhetoric and moved by australia could lead to a setback for the us with economics professor richard will have a lot to get started the list of countries cutting off ties with chinese tech giant wall way could soon include india but reports claim it may not come through an outright ban and won't this after deadly clashes have led the 2 nuclear powers to amass thousands of troops at their shared border artie's rachel blevins joins me now to discuss the details rachel what's going on right well being in government has an issue not right ban against chinese companies like wall way but instead now reports are claiming that they plan to actually. out some of those products in the

quick minute from long way in the coming years now we saw an article from the financial times which this is a quick claim that according to anonymous industry executives and government officials they say key ministries have clearly indicated that local telecom service provider should avoid using chinese equipment in future investments including in 5 g. networks now it's important to remember here that india has the 2nd largest mobile market in the world and right now wall way is one of their top suppliers when it comes to equipment for that network so if they were to cut this off all together and to have any sort of ban that would have a significant impact on both sides here but we've heard this before the india was going to issue this this weiwei ban essentially but how did we get here right wing then just last year india was saying that it was open to working with all kinds of vendors when it came to setting up its 5 g. network but with china specifically we've really seen increased tensions in recent months after border clashes turned deadly if you remember back in june at least 20

indian soldiers and an unknown number of chinese soldiers were killed when a standoff of troops along the border referred to as the line of actual control broke out into fights involving fists rocks and wooden clubs now following the deadliest clashes in more than 40 years both sides reportedly deployed troops by the 10s of thousands to the region then earlier this month india moved to ban wally and c.t.e. from taking part in its 5 g. rollout and india has also since banned $59.00 after him companies based in china including the popular platforms tick-tock and we chat citing of course national security concerns well it sounds like india is following suit to what the united states has been doing and during this time only only a few months or a little a little bit after the united states how much indication do we have that the u.s. is actually influencing india we are right as we've seen the u.s. has really been at the forefront of that war against wall way calling on all of its allies to ban the tech giant and claiming that there are. intimate national

security concerns when it comes to wall ways ties to the chinese government now always has repeatedly denied those claims but the u.s. is still pressured a number of countries to turn against them including india and as we saw earlier this year when president trump made a direct visit to india he met with officials and he said that they discussed the importance of a secure 5 g. wireless network and the need for this emerging technology to be a tool for freedom progress and prosperity and it is notable to see how the trump administration has almost encourage these increased tensions between india and china and we're talking about neighboring countries here who are very large but also at the same time are nuclear powers absolutely and we'll see what else they follow suit in doing the united states has been artie's rachel blevins thank you so much for being with us thank you. amazon is facing more legal rules well this time in india where more than 2000 vendors have filed an anti-trust lawsuit there saying the company's business methods are driving them out of business the suit comes as

amazon is expanding its operations just south in india well joining us now in washington legal journalist molly varos contributor with america's lawyer molly good to see you what are these vendors a lodging well it's 2000 of them sara they're basically saying hey you're driving the smaller guy out of business with your unfair discounts and buying in mass balkans selling it at a discount to another company and it's basically a lot of what you've heard earlier this is in addition to an antitrust investigation that started in the company earlier this year or started against the company early this year out of india and they were concerned over the same sort of practices that essentially put the smaller guy out of business so amazon can make a big profit well as usual that's the kind of what their goal is but what sort of business practices do the company or as a company under scrutiny for. yes and you know we're hearing the same story over and over again whether it's litigation in the united states or in other countries

but here in india it's basically a free for all in a lot of ways because it's a growing market for e-commerce businesses and you've got a lot of giants that are opening up shop there not just amazon but in amazon in particular basically vendors 9 from a variety of places are saying that the way amazon works is they'll go in they'll buy goods in bulk for directly from manufacturers turn around and sell them to someone else like cloud tail 4 at lower discounted rate basically at a loss and then cloud to cloud tail turns around sells those same products which are competing with other businesses that are selling those products but they're selling a lot less so it's driving these other smaller companies out of business well what's the latest small when it comes to amazon's planet to expand its operation in india well it's interesting they have just opened up their largest retail office yet in a city there in india that is known as basically asia silicon valley bad i'm probably slaughtering the plantation of that name but it's a huge city $10000000.00 is seen as

a real growing mecca for young talent the technology business they've got an enormous campus there like 2000000 square feet almost with some 15000 employees 7000 that are in the office and the rest are basically creating software that increases their online services so india is such a growing market a 1000000000 people and only 120000000 are really online shopping right now so there's a huge market to tap into and it's seen as the presence of that building is basically seen as a massage for a day really cement themselves as the leader in the online retail not just in india but around the world well and it's building one of its largest offices so that's pretty incredible amazon this isn't the 1st time we've heard amazon getting into trouble for this type of reason are being investigated for this reason is there any real evidence truth to that. you know they are looking into it you have that investigation that i talked about earlier that opened up in january and basically india regulators along regulators around the world are saying that amazon will say

you know speaking on both sides of their mouth even though amazon denies it they say they comply with all laws in india and across the world the basically amazon is not. what i'm trying to say they're trying to go in and violate loopholes if you are finding those loopholes that are making it easier for them to exploit smaller vendors and in fact some smaller businesses that were used to walk in service customers in india are now saying that they're seeing a loss of business because more people are shopping online and because amazon is going in and buying a lot of those products up and making it cheaper and home delivery to people at home so that's part of competition but in response government regulators in india are also trying to pass a new policy which makes it so that they can have access to the data that companies like amazon have in turn right around and take a look and see if any of that data is being used to in a nefarious way basically force out their competition and we'll see if amazon actually gives up that data as well because i'm not sure it's going to be that

usually molly barrows contributor to america's lawyer thank you for your time thank you sarah. here on boom bust we've been discussing the state of u.s. china relations and just how they've impacted the world well global markets actually reacted positively following tuesday's news that both sides said they're making progress on the trade front clinging to that phase one trade deal signed back in december u.s. secretary of state my pompei hailed 2 it trumps initiatives on what he called the predatory aggression on the chinese communist party. and china has pulled back the curtain on the predatory aggression of the chinese communist party. the president has held china accountable for covering up the china virus and allowing it to spread death and economic destruction in america and around the world and has ended the ridiculously unfair trade arrangement with china that punched a hole in our economy those jobs those jobs are coming back home from our we want to bring in author of understanding socialism and host of economic update professor

richard. we've talked time and time again about u.s. and china relationships pacifically the trade war with you but i want to get your take on this so-called progress of this phase one deal that both sides claim to be making. well i think the easiest way to understand this is a recognize which mr von pale clearly can't do that the united states has very little power over china the idea that the united states is in a position to tell the chinese to change their government or to get rid of their governing party is laughable around the world it's already said if there are americans who actually believes what you have is a tit for tat game and that game involves united states genius that beat on the share of bad china and the chinese calmly responding a little later nothing much changes let me eat drive that point home no exodus of

businesses from hong kong because the businesses in hong kong feel very confident that they can work within the framework of the people's republic no exodus of us like change back to china very small movement according to the american chinese chamber of commerce which is run by american prompting these so this is the only political theater and because he can't do much he has to kind of play both sags mr trump on the one hand strong straight moments i get him some attention and on the other hand. statements that we're making progress in floors the one constant is nothing much changes. and it gets displayed in a nice great room and that's the most i can see. because if you really clean chile not much change especially when we saw a lot of people after that phase when trade deal was signed that trump wins and other sites saying well no he really didn't when because there wasn't much change

and it was only phase one which was a partial deal right but a lot of these issues are still remain between the 2 countries the us much like you said wants china to basically restructure its government so given that information and china has said they're obviously not going to is there ever really going to be an agreement that's going to make both sides happy how far is this going to go. well my guess is and of course we're guessing but my guess is that you're going to see more of the same oscillated a little bit harsh rhetoric from the likes of on pale then a little bit calmer we're getting together from mr drum where maybe they'll reverse their relationships but get i did states needs china in all kinds of ways and vice a versa and they both know it and they both know that they have become into depended the chinese have become the 2nd superpower in the world over the last 30 years the idea that they're going to change their society i mean big net successful

is just as i say silly and the united states being the biggest debtor country in the world and the people's republic of china being the biggest creditor of the united states they're intertwined into dependence is what i think is what you're going to see and let's not be swayed by the ups and downs of what is mostly sierra for your political base or for the media on certainly driving markets happened down those headlines professor let me ask you if anything the u.s. justified though to frame it stance against china as a stance against totalitarianism and communism. no i don't think those have anything to do with it i mean the most a totalitarian government i can think of in the world is saudi arabia and the united states has wonderful relation with them wiser all kinds of oil from them sells them military equipment more than almost any other country in the world that

that the idea that united states foreign policy is good and i took that with terry in ism is kind of ridiculous and not taken seriously in the rest of the world so i think these are statements made by his political base of republicans at least and that's. with the democrats going along because that's a tradition in america but it's not something that actually affects the. which is why the communist government which has worked with all those years it's worked out really successful were profitable interactions with the united states on boards over the last 50 years and used it to their is and it's not greater now than it was 30 years ago and saw it not read well professor i want to turn change gears here a little bit to turn of a tween relationship between china and australia which australia as you know joined the united states and actually called for an investigation into china after the alleged mishandling of the crown a virus again that tensions between the u.s.

and china really grew tenser after the krona virus because of their mishandling allegedly take a listen to what a senior chinese diplomat comments on what he said as about as far as australia. they heard this shocking new offer proposal coming from australia which is supposed to be a good friend of china it has always be so if you know the language is a problem if you are able to reap chinese blocks chinese website and even the comments on the blog including the blog of your embassy in beijing you will be able to know the intensity of emotion of all people how much indignation anger and frustration they express. tensions are obviously rising between them professor your response. yes i think you're seeing the the provocative pressure from the united states you've seen the back and forth struggle inside in england about whether or

not to come down on wildly the way the united states wants and do they isolate reichen or that it's you just don't mistake all of thinks that term and whether or not to go along with that and the same thing is going on with australia you'll notice that australia is having a problem on its neighbor new zealand isn't having every problem they also notice that debate and to me china and work really are or also interdependent economically and so this is a little bit of shuttle in order to get a better deal of between them that one of the others wants to change but i don't think it will change much of the basis of all of this because these are not issues that the people who trade with those will make all the basic economic decisions for them this is secondary i crowned a little north and it really is where we're seeing as some countries take sides on the tax front like we're seeing india having issues like we spoke of earlier today

now in a blocking wa way others are going to follow so others may not and they're pushing back and that we know the united states is not going to stop pressuring a tallis to do so professor richard wolfe host of economic of day thank you for being with us today and making time for us. my pleasure thank you. time now for a quick break but when we return we've talked a lot about mortgage rates on loans at low interest rates but what if you can use crypto currency as collateral and we'll talk about the boom and the centralized finance as we get a break here the number is up to 5. in

the troubled 19 seventies a group of killers rampage through parts of northern ireland that was coordinated loyalists attacks particularly catholic population tens of thousands were forced to flee their homes and what was striking to put these attacks was that the are you see the police actually took part in the attacks so instead of preventing it they were active participants in the earlier full streets in belfast plague more than a 100 innocent civilians with that has to live you can see in yours and we found out more i was surprised about the extent and integrates which the solution was involved in some of those cases that killers would later be named the beginning i think it went to do very very top i think if the. the water where all the patients you. gave the go ahead.

during the coronavirus pandemic we're seeing an explosion in a new type of lending we're using crypto currency as collateral the fire decentralized finance peer to peer crypto currency pop farms allows lenders and borrowers to transact without the traditional gatekeepers of long which of course are normally banks well ok how does that work well defy sites which run on open source code with algorithms that rates in the real time based on supply and demand they represent the future of financial services providing a cheaper more efficient and more accessible way for people and companies to access and offer credit but these kinds of loans come. a significant risk joining us now to break down but co-host christine and ben swan chrystia let's start with you what

are the risks and some of the rewards of using this kind of system. first off to start off i think if you think about it this system really took off at a really unique time during the $1000.00 crisis when literally small businesses and individuals they struggled to take out loans and there was a cluster failure that was the p.p.p. program where many small businesses and individuals they weren't even eligible to apply for these very necessary funds so when traditional finance fails that's really when crypto shines because these this new decentralized finance platforms that allows for lenders and borrowers to transact without the headache as you said of the middleman big banks so loans on these platforms have now risen to more than 7 fold since march to nearly $4000000000.00 so there are huge benefits to these pot forms namely that is completely peer to peer which means that it is cheaper and you don't incur these high underwriting fees which is where the banks essentially take their cut it is also more fission is more transparent you literally see the market depth and the liquidity of the capital that is available right now to borrow in

real time so for the lenders this is also very beneficial because right now you have low interest rates in there in the u.s. capital markets however here you enjoy the benefits of yield farming so if you look at rap coin or even ren bitcoin we just simply 20 bitcoin demand has nearly has really skyrocketed because more than half of all the issued in circulation that is currently already locked in compound right now so those are the positive but for the negatives and the risks it is mitigated up to a certain point right now so currently as it stands products are over collateralized so this is because currently there's no credit scores in this entire market there's no credit scores there's no shared collateral so many products have to be over collateralized sometimes to as high as 150 percent so this is very undesirable for traders who. are high levels of liquidity and high levels of leverage and people want to maximize returns so there are also some technical risk to consider such as the off chance that there are bugs in the smart contract which

of course right now as of today there is absolutely no legal recourse a wall then as christine just mentioned this kind of wondering has been exploding given the time and since the start of the pandemic can you give us what those numbers look like. yeah as she mentioned since march we're talking about $3700000000.00 i mean that's a massive amount of money that's been flowing through this but there's a couple of other points here and christie is pretty much right on what she said but a couple of other points i would point out number one the issue of the fact that when banks are not lending at a time when they are not interested in that at a time when interest rates are being held so low this provides an opportunity number one to be able to get the funding you need if you are a small business owner and you have this collateral already in him the other important thing about it is it allows you would say that you hold a significant amount of bitcoin or you hold a significant amount of some kind of gold coin and you say why have these coins but i don't want to cash them out i don't want to trade them in for dollars it allows

you to still be able to use them as collateral while you still retain use and hold them and then once you've paid your loans back you don't lose your coins so i think there's a huge value in terms of that but the most important thing about this whole system is that it really has been set up in a way that moves and goes around the banking system christine mentioned the credit score issue i think that's a huge positive in this case and that's because the credit score system has been established by banks and credit card companies to force people into a cycle where they must use banks and they must use credit cards in order to show that their credit worthy so they can borrow more money from the bank who then uses whether or not they have paid it back it's a whole system that's been kind of rigged from the beginning and this bypasses that system and for that alone i think it's a system worth looking at well exactly if you don't have these big banks that control the money that's that's what the society that we're living and now kristie that is if lending just on our example of how mainstream crypto currency is like

they are becoming. well yes lending has actually always been around since the very beginning there was salt lending if a lot of people still remember that was extremely popular back in 2017 where you collateralized your coins in exchange for currency kind of like well ben has just been saying with the 5 and there are many others like that but the problem is just like exchanges of the past era those platforms were all centralized the trading exchanges the lending platforms all of those then became the middleman so like the bank it really didn't solve anything or fix anything it wasn't anything that novel because they in essence became the middleman and became the banks so in fact it was kind of downright redundant as crypto was meant to be peer to peer trust less permission less and open source but now this this really is because the defied boom now that is based on true the true application of crypto currency and being decentralized because right now this is when you're actually having a true peter peer platform lending that is unlike its predecessors so yes you could

say that this makes a lot more mainstream now but i think it is the true hardliners who are really benefiting from this the most because as he said you can get currency without having to sell out of your assets but also because these hollers they're the only people right now who really understand and can appreciate how big of a step this entire d 5 boom is because this is when you can really take out a loan in mere minutes completely anonymous honestly completely peer peer very different than what we're used to ben quick answer here though major investor tyler we. had a policy that really is continuing to boost the price of bitcoin is he right. it's the fed that's boosting it i think yes in some ways it's boosted it but on the other hand no i don't think you can get complete credit to the fed you have to give credit to the fact that big corn has arrived long before coronavirus and you this is just helping to show the value of it would do the printing process of that that has been involved absolutely it's made

a rise on its own. even before much like you said you must co-host chrystia i want to thank you for taking us into a deeper look into crypto currency as always. on demand on the brand new portable t.v. apps available on smartphones and tablets google play on the apple app store by searching portable t.v. portable t.v. can also be downloaded on newer models samphan smart t.v.'s as well as devices or simply talk about it portable the t.v. . join me every thursday on the i like simon short and i'll be speaking to us of the world of sports i'm sure i'll see that.

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