this is a boom bust the one business show you can't afford to miss unfair montecito there in washington coming up despite growing opposition from foreign countries and consumers chinese phone maker away launches it play this well 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 ways largest rivals china's ministry of foreign affairs spokesperson on wednesday said a new ban on its 5 g. technology violates in. national economic and trade rules group owns

a good sweeter side use national security as an excuse to discredit chinese enterprises in an old warranted manner openly suppress chinese telecommunications companies and politicize normal business cooperation without any evidence china was sweden's 8th 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 signing 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 lot 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 sweeps 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 walk 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 porch 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 president's 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 5 g. networks we then became the last country like we heard natasha to ban it japan and australia also banned it already and the u.k. said that it will move to ban it by 2027 do you see more and more countries

following sue and giving in to u.s. pressure. you know i don't know that it's exactly there is some us 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 years or 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. rask. 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 isn't 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 simple military fusion anything developed inside china is

expected to be given to the government eventual ends up in the hands of the military but if you want a level playing field sarah allow reciprocity you know how much stuff is banned inside china that we allow them to put into our networks and into our tick-tock 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 doing giants do it and working with the u.s. government thing 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 milled to 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 more 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 again right 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 happen. and if we were not making progress and spend 5 seconds for solutions and i say that in french to the secretary rice would that even be true and he said the same thing to me why would i even be 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 and 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 fank 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 follows you has changed your deadlines in ringback 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 thought i one 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 do 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. or after the election you think before the end of the year i do yeah well let's hope because much like we're saying the economy definitely needs it michel 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 of urgency claims number actually thord how should we interpret these numbers now how's the situation with unemployment is it actually getting better or not. well it's a mixed bag what's happened with the emergency that a lot of workers who had exhausted it have moved into this pandemic emergency fund which gives them an extra 13 weeks as their 26 weeks to use here as well or just simply trot out all of us have gone for us i actually think it can being somewhat optimistic that a lot of seasonal jobs that are starting to open up for example target has announced

a whole bunch of retail chains announce rolling all employment that they're seeking for the season i'm hoping they can win stimulus and just jumping on what christmas that something will have the end of the year with a retroactive that even that will start to settle out and i would rather focus on the positives and negatives well chris the markets also responded to this the dow recovered from its earlier $170.00 point loss this palosi thing all 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. yeah i mean it's definitely good news the markets i think we've seen a pullback for a couple weeks more or less 70 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 aren't ready 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 strength 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 michel i want to turn it over to europe and go overseas where equities 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. one is they can go negative traits topped out 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 mention about $750000000000.00 or so of recovery funds that the use of borrowing against for a long is in grants so all of that means that there are no where are job and just. the united states is just amazing how much can come out of the woodwork to help the market there really does seem to be this global 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 on horse euro these are the bigger threats right now in terms of everything else seems to be whether you want to call it not is helping right chris before we. we run out of time over in asia the i.m.f. on one say they downgraded its forecast for a package to 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 was 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 forecast way down and isn't 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 firmian founder and chief market strategist of the technical trader thought 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 to round up the latest in krypto news as we go to break here the numbers at the club. i.

was a pandemic no certain you know born is just a lot to nationalities. as a. judge of comedy. crisis with this president in modern times we can do better and we should. everyone is contributing way but we also know that this crisis will not go on forever the challenges created the response has been so many good people are helping us. it makes us feel very proud that we're in it together. it.

seemed wrong. just don't call. me to be yet to shape out these days you can't get a ticket and gains from it equals betrayal. when so many find themselves worlds apart. she still looks for common ground. americans love buying homes. and this was a fundamental part of how our political leadership and our country a large understood the bargain you get a home and then you know rebel right as 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 old question of the american dream but the bigger question of who the 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 initiated a $425000000.00 deployment of its cash surplus into big question and payment processor square recently announced that it too supports crypto currency 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 this year is a really big deal and it signals this true validation by mainstream so it's another mark 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 the 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 krypto out of pay pal the company detail that you can hold and you can buy in your paypal 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 is basically a closed. 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 crypto industry in terms of innovation pay-pal is great absolutely amazing for mass adoption up with the actual industry it's the 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 their 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 u.s. where bequeath to seeing 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 bitcoin 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 than 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 it's essentially it'll be 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 is talking 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 although 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 projects 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 the u.s. actually shunned in 2900 citing that facebook's lead role 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 to coin and other arms kristie i saw 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.

a sort of amazing country with so many friends in russia and i'm very excited to be here. i love that idea i think i can do that. different nice to make a lot of money with which they make millions and hundreds of me. here is a nice one. a great wall and nobody feels a lot better than me believe me and i'll build a very inexpensive like a great great wall. just in case you're worried about who's going to pay for it mexico will pay for. it

we'll see what happens. i always say who knows what we'll see on the field will be success. let me take a break. my favorite 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 simulated and even healthy people one roof fall sold out of body experience. americans love. this was a fundamental part of how our political leadership and our country at large understood

the bargain you get a hope and then you know rebel right as the things you don't revolt if you have a stake in the system. and think about the longer deeper history housings men in the united states not just that question of the american dream but the bigger question of who the dream is for. secret prisons are not usually what comes to mind when thinking about europe however even the most prosperous can be deceived within this 0 zone there were 2 view houses were. preserved was located and the only people had access to the story for investigators l.z. uncovered the darkest dealings of the secret services but i mean. you great ignore . for.

crying for justice on. insufficient trochaic the latin american nation of peru reject such a thing the author is that a coke at 19 in fact seen after lab data is withheld and a trial volunteer. named and shamed the french government confront the social media giant for failing to top one line hate speech in the wake of last week's terror attack but it's split opinion on the street. it is very easy to put all the blame on social media and it's up to a person to decide what is problematic or not. block search costs and there should be more people moderating all the bad content on top of the former business associate the show just 90 minutes the full.