this is boom bust the one business show you can't afford to miss unfair montecito in washington coming up despite growing opposition from foreign countries and consumers chinese phone maker away launches its latest phone call talk about what this means for the future of wally and by. the back and forth continues between the white house and capitol hill or in stimulus still looks like that 48 hour deadline we talked about earlier this week just keeps getting extended we have a lot to get through so let's get started. while way is now the world's top phone maker performing well within china but the company continues to face challenges from foreign consumers in opposition from a growing number of foreign governments are to correspondent has more from los angeles. huawei and failing its new math 40 series of smart phones and while the chinese company is soaring in sales at home it's a different story abroad

a new document released from the trumpet ministration is drawing criticism from china the white house publishing a national strategy for critical and emerging technologies the plan claims to be a path for the u.s. to protect what it calls its technology advantage including artificial intelligence to quantum information from other countries in the document the white house says china is not only dedicating large amounts of resources in its pursuit to become the global leader in science and technology it is also targeting sources every united states and allied strength in 2017 china released a plan amy to be the world leader in ai by 2030 hoping to catch up to the u.s. by this year and now sweden and other u.s. allies are backing away from by walk by products u.s. has alleged the company poses security risks potentially being a tool in which beijing uses for spying but sweden is also home to ericsson one of wall weighs largest rivals china's ministry of foreign. an affair spokesperson on

wednesday said and you balance 5 g. technology violates international economic and trade rules group owns them a good sweeter side use national security as an excuse to discredit chinese enterprises in an own warranted manner openly suppress chinese telecommunications companies and politicize normal business cooperation without any evidence to china it was sweden's 8 largest exports the country made up 10 percent of while ways revenue the u.s. is reportedly giving brazil incentives to block wildly from the country officials from the export import bank of the united states signed a memorandum for financing up to $1000000000.00 analysts say while wall way is exploding in china its international hurdles will make it difficult for the smartphone company to remain number one it's still them in the 2nd quarter being up there as one of the leaders on a global basis in phone sales but outside of china it's become very difficult not only because of the fact that there are sanctions in place but because of the fact

that people are losing confidence in the huawei brand over the weekend china adds export restrictions to its set of laws the legislation is set to go in effect december 1st aims to protect national security the law may impact foreign companies doing research in mainland china this includes alphabet which has a google research lab in beijing on the heels of releasing this new smartphone thursday some analysts say this might be the last phone for a while weight despite sales growing 50 percent in china u.s. sanctions that took effect last month while way off from processors these suppliers rely on u.s. technology for their operations reporting for boom bust natasha's suites are to. take a deeper look at this let's bring in cyber security expert and chief security advisor for sentinel one morgan right maureen good to see you my friend washington continues to keep its pressure up against the telecom giant wall way this time it's offering money to brazil to block away financing up to $1000000000.00 what do you

make of this. i say it's about time i mean china has been doing their belt and road initiative there to favorite tactic is dead diplomacy to get these countries they'll build infrastructure projects they'll build roads they give them telecommunications technology and then sarah the bill comes due and when the bill comes due many of these people can't pay these countries and so china negotiates ports deals you know a military base deal so i say it's about time to take off the gloves use the power of the the economy that the u.s. has and engage in the same tactics china has been and one of the ways to do that is block the presidents and block the deployment of huawei in south america on a lot of u.s. allies we've seen in the last few months and since last year they they did start banning the equipment from their 5000 right next to it and became the last country like we heard natasha to ban it to pan in australia also banned it already and the

u.k. said that it will move to ban it by 2027 d.s.a. moi more countries falling through and getting into to the u.s. pressure. you know i don't know that it's exactly there is some u.s. pressure but i think what they're saying is that people have this mistaken belief is that everything's ok right now if they deploy the technology there's nothing wrong with it that's not the problem it doesn't hurt to be number one but it doesn't hurt when you're the only one if you own all the roads going somewhere if you own all the bridges going somewhere eventually you will start setting the tolls you will start setting the regulations and this is the biggest concern is long as hallway continues to subsidize the deployment into countries because again at the end of the day it's still a financial calculation they have to make you know here's some technology but it's the lowest price so this is about a preemptive strike against them getting massive market share in order to set the standards and to start regulating it and i will tell you maybe it's not

a security threat today in the traditional sense give it 10 years because china doesn't think in one year. sir 5 years they think in decades it will be oh it will be a huge issue 10 years from now omar and we've talked about this here on the show a lot whether or not it actually is a security threat much like you're saying even if it isn't now it could be later not to say that they're not because they very well could why hasn't the u.s. government showed are provided any proof to the american people or to the public they say they have it the u.k. just a few months ago also said they found evidence that it was a national security risk. you know and there are some interesting things going on behind the scenes this is very geo political poll and the polish intelligence service did an entire analysis and they came out with their own statement about the the security issues that they were concerned about what this is as much a security issue of the technology as it is a security issue of the company and the country providing the technology look inside china you just showed a little clip about google an alphabet having artificial intelligence research

centers there it's called civil military fusion anything developed inside china is expected to be given to the government eventual ends up in the hands of the military but also if you want a level playing field sir allow reciprocity you know how much stuff is banned inside china that we allow them to put into our networks and if you are to talk for example facebook facebook is banned is china but to talk is allowed in the united states we've got to start looking at reciprocity to say if you want to really level the playing field let's open the markets but as long as they have a closed market i think some of these tactics are entirely appropriate how do you see this being different as to what the american tech companies do in giants do that and working with the u.s. government we've seen this before with microsoft years ago for example. yeah you know there's a huge difference there too because there is no law and there's no expectation that says if microsoft develops artificial intelligence that they have to by law give it to the united states government they don't microsoft is doesn't have to sell it to the u.s. government google doesn't have to sell it to the u.s.

government the rules are far different inside china civil milton civil military fusion you are required as a chinese company or doing business in china to share your intellectual property your research with the chinese government if that happened in the united states if the government came in and said hey google we like your algorithm you've got to give us your search algorithm that be a nonstarter to be a huge court fight again i'd really like to see if they merican public to see that happen and i do want to ask you one more question apple just unveiled their latest i phone with the 5 g. capacity does the u.s. actually have the infrastructure for 5 g. yet please clarify. oh yes they do and i have a him anxiously awaiting i live out here nor there virginia so i'm looking at 80 and t. and verizon and there is some deployment of 5 g. because see some of the coverage maps and yes they're starting to put it out there i think chicago was one of the very 1st places to have it now it's in d.c. now it's in major metropolitan areas so we have it deployed whether or not we have

the ability now to scale it nationwide as quick as we want that's going to be an issue of price capacity for the equipment and budgets you know right now in this down time sir as you well know because you've reported on it budgets are kind of tight with everybody so we're going to have to see how this deployment goes but yes we've got the capacity we've got the companies we just need to do it on some say it won't be as fast necessarily but i guess it'll be up to the person to to actually go out and buy the new i phone and write cyber security analyst and chief security advisor for authentic get to see my friend. good to see sara. u.s. unemployment numbers are in with an unexpected dip below 8 100000 last week u.s. commerce department data showed 787000 americans filed for jobless claims beating expectations while the number is still high unemployment pilings came in below 21000000 for the 8th straight week this is the lowest level we've seen since the start of the pandemic back in march this comes as markets react to us speaker of

the house nancy pelosi is comments commenting on stimulus and she said the deal is just about there but she's warning the deal would take a little while to be sorted out this. did not have a purpose and if we were not making progress and spend 5 seconds for solutions and i say that in french to the secretary rice i would even be talking to you and he said to me well i would i would really talking to you if we can resolve some of these things in the next few days you know take to write the bill. for more on the stimulus the market reaction we're joined by chris mulan founder and chief market strategist of the technical traders dot com and michelle snyder managing director of market gauge group and author of the bust selling book plant your money tree a guide to growing your well thank you both for being with me today michelle let's start with you we just heard what house speaker nancy pelosi said that the deal is

just about there but it's going to take some time what do you take from that. i never really had any doubts that there would be something passed before the election because i think both sides have to weigh what they have to lose if they don't come to the table and they're so close but more importantly and this feels like something right out of prison awesome world is a rainbow at this point but we can see what's happening in the market and the market is just rising on all of this talk and all of the hope and today was classic because not only is it rising it's where the money is going that i'm finding more interesting and that is because the optimism is showing up in the small caps transportation and the retail sector as well so money is rotating out of the strong tech fanks stocks and that's really a value versus growth which is ultimately healthy of the market so at this point i would have to say that i'm happy that palosi has changed their deadlines for the 40

hours to move forward and i think there's going to be something happen and i think the results of that not happening at this point what really made everybody just look. we've got 2 weeks to election right the economy needs help people need help businesses need help chris what point do you agree with what michelle said i will point is there an actual cut off though we're less than 2 weeks away from the presidential election when will one side or both sides you think just kind of give up or do you think this passing any time soon. yeah i agree with michelle in terms of i don't think they're going to just pass on i think they really are trying to help the people so they no one's going to back down i don't think where whether they get it done in time before the election that's that's going to be a tough call i don't think they will i mean obviously they've got a lot of work to do writing a bill is not something that happens overnight and we're not that far away i don't see it happening before the election but we all know it's coming and it's retroactive for people who haven't who qualify so i mean it's not the end of the

world i mean it's all the talk right now but really it's coming and people will get it hopefully soon enough. at or after the election you think before the end of the year. i do well let's hope because much like we're saying the economy definitely needs it michelle these weekly jobless claims that we mentioned they dropped to the lowest level since the pandemic started in march now they're continuing claims also dropped but the pandemic average of the claims number actually thord how should we interpret these numbers now how is the situation with unemployment is it actually getting better or not. on some expect what's happened with the emergence of a lot of workers who had exhausted. have moved into this. fund which gives them an extra 13 weeks is that $26.00 weeks here is just simply trot out all of us have gone for us i actually think you can being somewhat optimistic that

a lot of seasonal jobs are starting to open up for example target has announced a whole bunch of retail chains now it's growing all employment. for the season i'm hoping they can win stimulus and just something on what chris says that something will happen i the end you know it's a retroactive that even that will start to settle and i would rather focus on the positives and negatives well chris the markets also responded to this the dow recovered from its earlier 170 point loss and palosi signal that progress is this real progress or kind of more political theater to 2 fake algos that are driving these things in the market as the market can continue to go up from here. you know i mean it's definitely good news the markets i think we've seen a pullback for a couple weeks more or less 73 days trading days here and people are waiting for stimulus plan before i think new money really gets pushed into this market we know it's coming but i mean people just are whether you're ready to jump into the stock

market yet overall i mean i think we're looking at the stock market is going to kind of chop around in till we get a stimulus plan until the elections and then i think it's probably going to be off to the races again we are seeing some strain. we have strong patterns on the charts from a technical standpoint we're still in an uptrend so this is just a pause we have had a really good run in the last 4 weeks so this pause is nothing more than just a bullish consolidation people are waiting for stimulus plan before they want to commit more money to the to the stock market and typically it is during this time election time that the season where markets do perform pretty well michelle i want to turn it over to europe and go overseas where equities a slumped near one month lows on thursday as covert cases will they continue to rise there mackenzie's a recent survey warned that at least half of europe small to medium sized businesses could enter into bankruptcy proceedings next year as the recovery obviously is stagnated it will plunge g.d.p.

by as much as 8 percent the does europe have enough try powder to unleash more fiscal or monetary stimulus in order to avoid the sort of collapse. i believe look artists and so they have a few things that they still. want to say can go negative traits which they've talked about to know is that they also have something similar to what the fed does here in that they can actually troubled assets to ask purchases. and also they mentioned about $750000000000.00 worth of recovery funds that they can use of borrowing against for loans and grants so all of that means that there are no where are job and just like to united states is just amazing how much can come out of the woodwork to help the market there really does seem to be this little consensus that not only do they not want to see economic carnage they don't want to see their markets and part of their currencies carnage and that's really the biggest threat that we have really all over right now is what happens the election if it's tested

what happens with the u.s. dollar versus the want to force euro these are the bigger threats right now in terms of everything else seems to be what you want to call it if you. all right chris before we. run out of time over in asia the i.m.f. on wednesday they downgraded its forecast for a park to a negative 2.2 percent in 2020 they seem to have been performing pretty well what's happening here what's happening in china. you know they're just they're just really small lacking in progress i mean they got downgraded in june to 1 point 6 percent which is really bad and then just recently now down to 2.2 percent negative which is obviously they've got some big strong signs that there's they're struggling in there and they're seeing a large contraction in india in the philippines malaysia and really the i.m.f. came out and they were talking about how they're just they're not firing on with the same power and all the different countries so they're looking at really a multi-speed recovery some countries are doing really well but india philippines

malaysia is struggling really and so it's a real mixed bag and obviously those are pretty big countries so it's heavily weighted on them and that's pulling their forecasts way down and as in a lot of investors keeping an eye on the u.s. recovery as well a lot of the stimulus talk and everything else going on really busy for them chris from elan founder and chief market strategist of the technical traders dot com and i thought michelle snyder managing director of the market gauge group thank you both so much for being with us today and breaking this down. take care sir thank you. time after a quick break but when we come back on the rise again heading $13000.00 will turn to our panel in the round up the latest in crypto news i think that a break here the number is at the club.

it was a very nice show from president putin that i could have said no thank you or i could have said thank you and i said i'll take it and now is. time to introduce. mr don't travel thank you susan drew much was the. name whatever you want to name i mean i don't know how would i come that news that's dishonest telecoms better recorder network since totally dishonest c.n.n. is says you know 100 percent negative. change fail changes so sometimes i'll say that's going to be a great story be a pretty good report another as good as you. will see what happens who knows

who knows what will be success. beginning of this year we outlined 6 or 7 things that could be the pin to pop the bubble. not sure endemic was on that list but it doesn't really matter what the pin is the bubble could have been. eased in and deflated long ago but it never was and so now it's popping. back to saying well you know this job by the way an outcome could cause a crash on the dollar baby maybe not in terms of relating to the biden whether he's in or not doesn't matter actually who's in the white house the fact is that the dollar is toast of the white house. americans love buying homes.

this was a fundamental part of how our political leadership and our country a large understood the bargain you get a hoe and then you know rebel right that's the things you don't revolt if you have a stake in the system. be really interesting to dial it back and think about the longer deeper history housings men in the united states not just that question of the american dream the bigger question if you dream is for.

a very big day for big queen and crypto currencies as the world's largest crypto currency is now above $13000.00 again thanks to an announcement from pay pal that the payment processor will support crypto currencies of course pay pal isn't the only company to announce this kind of support micro strategy has an issue today a $425000000.00 deployment of its cash surplus into big question and payment processor square recently announced that it too supports cryptocurrency as well joining me now to discuss them with christiane and ben swan it kristie let's start with you obviously because in a big day it rallied on the news of pay pal support how does this announcement push toward mainstream adoption and what are the drawbacks i know we talked a little bit about it but can you go further into detail. sharpei foray into the crypt as here is a really big deal and it signals this true validation by mainstream so it's another market a clear shift to digital forms of currencies and this is and that it is

a true method of payment transaction and e-commerce even not just live a trading like what we've been using big for before so like when base pay pal be acting as a gateway so while this news is largely bullish for bitcoin let's talk about some of the drawbacks the glaring drawback is that users cannot transfer crypto out of pay pal the company detail that you can hold and you can buy and your pay pal account but you cannot transfer off and you will not own your private key so i think we've said this about a 100 times but if you don't own your keys you don't own your calling pay pal does and they will be acting as a big bag banks you're holding onto all your assets for your convenience so which for most mainstream people that is already an ingrained habit you trust the bank and it's not a big deal but the thing is in reality this means that pay pal control all your assets it's basically a closed. platform which violates the very freedom that is quite the damage of being able to move basically everywhere so if you think about it this is all

a big fat nothing burger for the cook industry in terms of innovation pay pal is great absolutely amazing for math adoption up with the actual industry it's been nothing burger just thousands and thousands of entries in a central pay pal database which has nothing to do with actual bitcoin so you get convenience of being able to spend to pay pal but at the cost of mobility and probably higher fees as well right now and some control here then it isn't only here in the us where make witnessing this major rally in fact numbers of other nations to quit is also soaring right. yeah actually it is in fact pretty interesting here as of this week with big going going up above $13000.00 again we what we see is that there are at least 7 other countries where right now big going is worth more then the currencies in those countries and so that includes brazil it includes turkey argentina sudan and gola venezuela zambia what's interesting about that and i think this is an important point about bitcoin is that right now what

we've seen over the course of this year especially with the coronavirus and the massive you know printing of money that's going on here in the u.s. and not just here in the u.s. but all over the world is that currencies are beginning to devalue more because it is not the value it's going up so if you hold if you hold savings in the currencies of those nations you're actually losing money right now whereas if you own a big coin instead of the currency of those nations you're gaining money the value of what you hold is actually going up as opposed to suffering from inflation so it's interesting to see that happening but to the point that christie just made i think it's so important to remember that pay pal's intreat into this space while it's good for again mass adoption and more people becoming familiar with with crypto currencies it does not it does not move cryptocurrency forward it may merely makes it more of a kind of mainstream and almost co-opted system of using that going unlike anything that we've ever seen because that's essentially it'll be through a centralized bank and it's not even yours i mean you're allowed to buy it and then

pay pal will tell you what you can do with it i mean it erases the idea of freedom that's associated with crypto currency it does everything to get to get rid of that again he introduces people to the idea so i think it's good in that respect but it's bad in terms of representing what cryptocurrency actually is fed chairman. talking about about digital currencies and how the united states it is looking to be get it right and not necessarily 1st how far are we in the united states behind other countries. well all of central banks they have been exploring the idea of issuing their own currencies but china right now is still holding that lead as it's been developing at c.b.c. since as early as 2014 and sweet and of course they've been looking at the economy project starting at 2017 so if you look at it that way the u.s. is very late to the game and rather than embracing the reality that digital currencies are the future you have actually shunned in 2900 citing that facebook libero was actually harmful and shut down the project so this is

a big fear for the u.s. because falling behind technologically to other countries and also another has to deal with decline and other ones kristie i ben so on that thank you both for breaking this down to in layman's terms really for people who need further explanation of this that's it for this time but thank you. that's all the time we have for today but wealthy you next time. with a little more than a week before the election many are asking the question do you believe the polls we have good reason to do so should voters trust the polls and if you don't trust the poll will you trust the outcome of the election.

you know what i mean maybe at their school i don't think about that i don't mean i don't mean now our power. i kind of but i wonder. if they now i think it's have enough. members of the african mafias them safe and quick passage to europe but once they. leave they are enslaved they count speech util. will not some of them leave your mom and i couldn't you know if this unit can get it out it meant.

they sold the. let me. go on court of the united. because the persona that i can't even use coubertin woman. in the. break. my face is for. us losing rolaids we have a part of the brain right here in the middle that's on the right side very high with assimilated and even healthy people one of the rueful sold out of body experience.

new revelations emerge in the hunter biden e-mail scandal as an alleged former business partner comes forward directly linking presidential hopeful joe biden to his son's suppose it controversial dealing. i found the democratic nominee prepares to face off against the donald trump on that thursday night that's coming up in just a couple minutes actually in the final debate before the u.s. election there's stricter moderation this time though with a mute button to prevent interruption. a volunteer dies in a major cold in 1000 vaccine trial casting doubt over the astra zeneca job. and the conflict between azerbaijan and armenia rages on in spite of 2 cease fire deals our correspondent is in the disputed not.