power is looking to cut back on its holdings of u.s. debt now straight ahead we're going to break down the significance of this potential move and how the u.s. is responding and late and after equities slipped on thursday markets are still on shaky ground and later on we're going to go ahead and analyze the state of global markets after a hectic week plus the pandemic has delayed several high profile movies this summer but the 1st big blockbuster of the season is getting a late release of for a holiday weekend we have an analyst on hand to discuss the state of the film industry packed show today so let's dive right in. and another day another escalation between the u.s. and china on the trade front now the latest the white house is asking for all federal agencies to detail china related funding this includes any and all federal funding that aids or supports china or that directly or indirectly counters china's unfair competition and malign activities and influence globally now this comes from a document titled strategic competition with china crosscut but that document does

not indicate how the information is going to be used it only currently says that it will inform policymakers on the many different ways the u.s. spending involved china on the campaign trail us president donald trump continues to hit china as a work that still needs to be done to protect the u.s. i think we're way ahead of what we were 4 years ago and is far more enthusiasm our base is bigger stronger and we've done the greatest job again if we didn't get hit by the plague from china this thing we wouldn't even have between us i wouldn't cancel the congressman most of the rallies i wouldn't need it around and. that's a little bit unfair but that's ok that's what john is done to our nation they've screwed us for a long time or a lot of different ways no never has anybody ripped off our nation like china and i take it in billions and billions. we never took it we never took in

$0.10 from jonah and i gave $28000000000.00 right $28000000000.00 to the farmers because they were targeted unfairly by jonah. so how does this latest push to inform policymakers on how u.s. spending involves china affect the relationship between the 2 nations well joining us now to discuss our boom bust co-host ben swann and christiane thank you both for being here as always kristie i actually want to start with you. is this new document just another way of presenting china as an economic threat to the united states. it really is as the u.s. and china have grown increasingly antagonistic towards each other this budget data request well apparently be used to help policymakers strategically when responding to china so a spokesman for the o.m.b. confirmed the agency's effort to quote ensure that the u.s. remains strong and in a position of strength against rival nations like china using language like rival

nations like fighting words so the white house is not asking for data on all u.s. government funding used to counter chinese influence such as the bell and road initiatives funding for military infrastructure spending on 5 g. a wireless communications e.b. space tech and more so right now as it currently stands this is a fact finding mission in a data gathering effort at the moment it is kind of laying the foundation for what steve benen referred to several years ago on 27000 as quote draining the swamp to see what lies underneath but the budget of you could lead to more actions against china eventually no ben we know the trump administration isn't just talking on these issues in fact president trump just made another statement on air force one that his administration is looking to banning even more chinese apps that says quote could pose a national security threat and quote which apps is actually talking about here. well he hasn't specified which apps is talking about but based if you base what he's saying what india is doing india just banned about $118.00 different apps most

of them are gaining apps that come out of china some of those companies are owned by by dance by 10 cent and some by alibaba but i think the bigger issue is this that what the trauma ministration is really responding to is the fact that there was essentially a kind of checkmate to their move over to talk in the last week and as you and i have talked about on the show before the fact is the drug administration came forward and said we're said the deadline and to talk has to be sold that's the u.s. canada new zealand and australia operations by essentially september 15th by dance look like they were going to do it and then the chinese that was the checkmate was when they came in and said we're changing the rules making sure you understand you can't do this now all of a sudden we went from there will be an announcement about to talk in a couple of days to everything seems to a stalled out so so far it seems like that move by the chinese kind of worked in countering what trump was trying to do by essentially taking away the most successful social media company in the world right now and handing it to an

american company and in the meantime the response to that i think from the german ministration is they don't want to look like china got the best though it will have to ban something else out order to kind of show that we're still strong in this you know kristie i want to get your take on that because china did seem to successfully hold the trump administration's for sale of tik tok is that just a speed bump more or has the sale been actually complete or killed completely. i don't think it's been killed completely but china is known to be particularly savvy play into politics and stalling and as you know stalling and running out the clock is particularly effective especially when we're talking about election year so china is fighting back accusing the u.s. administration of stealing chinese ip stealing chinese tech and chinese jobs so very hypocritical since that's what trump has been accusing china of doing so for the time being beijing has set up some very effective roadblocks that would make any deal impossible within the timeline demanded by washington right now so they're essentially stripping tech talk of its recommendation algorithm and requiring the

government approval for its sale so it makes tick tock a very they now actually have to re-evaluate how much tick-tock is actually worth if it doesn't come with the algo it's not very attractive without it and it's not a very smart business decision to buy it at this point so meanwhile tech talk is filing the lawsuit challenging 5 the effective order to ban tech talk without due process and currently it's all so unclear what authority that the president has to actually ban an app in the 1st place when we have these are scored in tensions between the nations that it could become kind of a punch counterpunch scenario and now we're learning that china is plenty to do with us treasuries how much of an impact can china have on the u.s. by doing this. so this was a move that we've explored last year during the height of the trade where there were frequent rumors that china was looking to like go for nuclear by selling some or all of its over one trillion dollars of u.s. securities so this shadow wasn't all talk after peaking in 2013 the chinese holdings of u.s.

debt have been steadily declining and are currently near the lowest levels in 8 years but 1000 gradual unwinding beijing has never shocked the market with any major liquidation so far but now the continued escalation that threat may not be too far off now so it is cause for concern and certainly suggests that the fed may soon have to step in with another massive q.e. to purchase whatever china has to sell so right now beijing the latest beijing publication announced that china. gradually reduce its holdings up to 800000000000 from the current levels of one trillion after the us federal deficit increased its risk of default and so the key reason stated for the liquidation is that they're concerned about the writing debt levels of the u.s. deficit is already hitting a record of 3.3 trillion so it's a very legitimate concern but at the same time this will also nosedive the value of china's main treasury buildings and to stabilize our base at the very double edge sword of our bed and i got about 45 seconds left but i want to hit this last point is actually expected to surpass the united states to become the world's largest economy within the next decade what can you tell us about that yes we do see that

china is on track to do that that's according to a report that came out of beijing now look the german ministration is doing everything that it can right now to slow that down the question is going to be whether or not voters agree with what the president is doing i would say the president's kind of staking some new ground here where past administrations have not taken such a hard line stance with china he's pushing that certainly on the campaign trail right now as we heard in those sound bites you played earlier and the question will be for voters is whether or not they agree with this and they want to slow china down and try to keep america dominant around the world versus whether or not they want to vote for someone like former vice president joe biden who obviously during the obama administration had a much softer line on china i think it really comes down to how voters see it and we don't know the answer to that yet boom bust co-host ben swan and christie hi thank you both for your time.

and the final 2 days of the week have been tough on wall street which generally has an impact across the globe so let's see where things ended up where to start in russia where the mo x. is down for the week after some volatile days now this week the ruble plunged to its lowest level since the height of the pandemic oil and gas also contributed to those losses as the country's economy relies heavily on the energy sector let's move to asian markets in china the shanghai composite it's down for the week despite an increase in the country's services sector activity in august now the index dropped nearly one percent on friday alone following wall street sharp declines in hong kong the hang seng well that is also in the red for the week the index fell on the news that the tick tock sale could be in jeopardy even as china and see it launched a new tech e.t.f. listed on the exchange now the index still fell 1.25 percent by the end of trading the nikkei in japan well it's just barely up for the week by 1.4 percent still following similar trends the index closed lower on friday after a sell off in u.s.

tech stocks pushed wall street to its steepest fall in months in india the sensex it's also down for the week on week global economic data as well as that massive sell off on wall street going to see that trend over and over again now the metal index was down 3 percent followed by the farm up bank and energy sectors in australia the assets followed similar trends the index plunged and suffered its sharpest one day loss in 4 months a 3 point one percent dive on that wall street sell off plus they entered their 1st recession in 30 years in australia the all shares in south africa is also in the red the rand is weaker as the country's major retailer treuer its international reported a 28.2 percent decline in full year earnings we're going to go ahead and move to europe in the americas where we're seeing pretty much. a lot of the same here in london the footsie it's in the red for the week that tech sell off on wall street weighed heavily on european markets on friday the u.s.

labor department reported adding 1400000 jobs for the month of august helping european markets gain back some of those losses the footsie hit 3 month the lows this week the german dax well it's barely down while the french cac it oh most finished positive for the week but went red late friday afternoon both reacting to the trends we're seeing across the globe on thursday france revealed a stimulus package worth 100000000000 euros to prop up the economy now we're going to go across the atlantic to brazil the ebo best but it's also down on the week latin america's largest economy plunged to levels it hasn't seen since 2009 g.d.p. fell by 9.7 percent for the 2nd quarter of this year the most on record industry fixes that fixed investment and household consumption they all contributed largely to the loss we're going to move north to mexico where the b.m.v. is down for the week the country has lost more than 12000000 jobs over the past few months the b.m.v. fell on thursday again on that wall street tech sell off here in the u.s.

all 3 major indices they are in the red the dow the nasdaq and the s. and p. the tech selloff brought all the indices down now on friday those tech stocks deep in but travel stocks and retailers they helped push the market back up just a bit but not going positive at all financial stocks boosted markets with a jump in yields j.p. morgan goldman sachs and citigroup they all saw gains on friday and finally the ts x. in toronto it's also down on the week the as energy stocks actually weighed down the index with oil prices falling to early august lows the index was up on friday on lower unemployment and more jobs added in august now moving into the holiday week here in the united states we will keep an eye on the tech sector to see if that volatility will remain or if markets are going to bounce has been brought up a lot during the pandemic because we saw a lot of films that were originally destined for at the actual. release goes straight to streaming in other words crushing not the actual window but now in this world the longer theatrical window would actually work in the film's favor meaning

if you're in new york in l.a. and you can't see this movie this weekend you want it to still be a 1st run movie when you get it down the road so if you have a long the actual window that movie for instance 10 it will still be playing in its 1st run to dree 4 weeks in 2 months and maybe longer and that's good for the consumer because they get supers drunk it's good for teachers but it's a throwback to a time when movies have legs so to speak meaning they played for the long haul not all about the opening weekend so we're definitely in strange territory here for sure brant what reminds you of things like drastic park which were in theaters for almost 12 months because they were such huge blob riders what about will on the disney is really banking on its fan base to shell out that additional $30.00 to watch it on a platform that already has a subscription fee do we see this video be released actually doing well or because it's only a limited time that you get this movie until november and then it's going to be

free in december do you see that this kind of pushing people off. well it's really hard to assess how well a movie on streaming does the numbers are not as transparent if you will as they are with that the actual box office and in some cases the streaming model isn't so much about the individual buyer of that they don't but how many people you can get to subscribe to your platform and disney is in a unique position of having their own platform disney plus they're going to open the film september 11th in china so we'll have a theatrical run wine a but it's not going to have that traditional the actual run that was intended to have in north america so it's this weird hybrid mix and i have to say studios each movie costs a lot of money there's a lot of dynamics there so it's on a case by case basis or with a movie like $10.00 and christopher nolan he's the x. factor all this no way was that movie going to go to streaming if christopher nolan

had anything to say about it and he clearly did and movies are at 10 it's actually doing really well in china doing 8600000 dollars it's expected to do about $40000000.00 this weekend in china alone that's some harwood dunkirk and interstellar which both opened to about $30000000.00 in china with their debuts well it would be interesting to see what this move on opening does because we are now seeing reports that maybe this is testing the market for streaming giants like netflix or hulu to release premium content because they produce their own films paul garabedian of com score thank you so much for breaking it down for us. thank you brett always appreciate it. and that's it for this time you can catch the man of the brand new portable t.v. at what's available on smartphone the tablet through google play in the apple app store by searching portable t.v. for the t.v. could also be newer model say i'm so smart t.v.'s as well as a roku devices or simply check it out at portable t.v. we'll see you next time.

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phase of its coronavirus vaccine and despite global skepticism over its effectiveness a british medical journal claims the drug does produce an antibody response. between washington and beijing china says it may significantly cut its holdings of u.s. debt.