mind this the british now what it was. the other thing was mr trump's nationalism in. china that meant that both europe and china were problems that they're now going to. close a relationship with one another theory and that is really where people trying. to not only order emerge well united states is concerned the new incoming by the administration they they are worried because they are trying to get european allies to go harder on china and with this new deal they're trying to obviously negotiate and implement these these these new economic you know deals that will help the relationship between the 2 countries abound i do want to ask you. as a there's a new number new number a report that show that china is going to overtake the u.s. within this decade as the number one economy in the world we've talked about this

before but it looks like it's going to happen sooner rather than later what does this mean for the united states. it is going to happen sooner rather than later later was at least 10 years now we're looking at about 7 years about 3 years sooner than we had thought and it might even be sooner than that because keep in mind you know when you're looking at these numbers when you don't include things like world wide pandemics that shut down the supply chains and then we watch as china redoubles its effort and gets manufacturing moving again at a breakneck pace and the u.s. has not done that and other countries have not at china is on pace actually maybe to get there even sooner than 7 years from now but here's what's really fascinating is that what the chinese have managed to do is they have become not only the most desirable market in the world for every company and every manufacturer right who once their products their goods their items to be sold in china and by the way that

really is the value of what china is bringing to this european trade deal the european manufacturers and companies that are trying to get into china are thrilled at the idea that they have access to it the u.s. wants to slow that down and the u.s. is attempted on many levels to slow that down but the problem that they run into over and over and over again is that china has all the bargaining chips china holds everything right now they create a lot of the manufacturing but they also have access to the markets that everybody wants access to so it's a win win for the chinese it's also a win for the chinese in that as much as the u.s. might want to create disruption for chinese technologies right now the chinese have managed to go around the u.s. that one bill one road initiative is a very powerful way of kind of seducing and pushing other countries to play along and i don't say that in a way that says see the chinese are manipulating because the u.s. broke the playbook on manipulation of other countries we've done it for decades it's just now the chinese are doing it better than we are and that's why we're

frustrated but if they have the students in then becomes a teacher. but but a. special it won't it cannot china can tell it also wanted it wanted to go into the energy sector as well i know that was a big key part of this trade right. yeah absolutely it is but it's bigger than even just that it's the fact that the chinese have figured out ways to say if we want to have unilateral relationships in africa in across europe we don't need the united states to be the broker of those things and the problem is is that for many many decades the u.s. has been the sole broker of all those kinds of agreements if you want to do business worldwide you have to have the u.s. as a blessing that is no longer the case it is becoming the case for now you have to have china's blessing and the chinese have yes they've manipulated markets to make that happen yes they did the global situation to make it happen but again you can't say that and not recognize that the u.s.

did it 1st we were the initial country that was doing that for the past several decades to say we'll control who gets to do business with whom now the chinese get to do it professor what i want to talk about these numbers that predict that china is going to become obviously the world's largest economy in just 7 years china has not fully recovered from the shock of the crown of pandemic they did we did did find out that exports dead girl by 21 percent we talked about this a few weeks ago what's going on here. well i think what you're seeing and it's a painful for me to have to say it appears in a way around the chinese adopted a really strict harsh lock down early in this and then the best example was the city with millions of people in it who want if you go to war one today and there was just the report the other day from radio if you want to or

wanted a people are not wearing masks they're going to call it's not in violation of the lockdown but because they don't need it and the more they demonstrated that actually i end up mobilization of all public and private to confront this disease in the status way possible turns out to have been the best economic policy trading off between pandemic and economics which is what we were told each year turns out to have been a big big mistake and then is quite right that there are better solution for the pandemic is now helping them make the economic gains that are really changing the playbook for how the world economy is going to work and years of the final irony about the deal with europe the last time historically europe went to china it went to carve china up the germans the french the belgians those anish everybody took a piece of china basically and ran it now the shoe is very much on the other foot

and the chinese on the very concept of these 3 historic reversal of the role now you are up comes offering deals in a completely different relationship that is much more like equals then you use the old colonial system and i think it marks a real turn me on and a for much of the world that is also going in that direction well much like ben said china has the upper hand here they're trying to make to health well. with other countries while the united states. you know still under the strain we're going hard on china then there's a belief that there is a coming backlash against china from global powers obviously the united states is one of them pressuring the year opinion and life to to work to really were tele work kind of against china sort of speak is there any truth to this besides the think sample i just gave yeah i think there is i do think we're going to see more of

a pushback and more kind of global backlash we've already seen it across the board in certain ways for instance with the technology sector the way story which we've covered extensively as you know there is certainly some backlash there and it shouldn't be in china's in a leader is really in an interesting position because he is pushing very hard right now to really move forward at a breakneck pace to really dominate the world in terms of what china is able to do i think the problem that the u.s. is going to run into is that we have put ourselves in a position where we are far more dependent on china than they are on us and if we learned anything during the for tracking trade war between the trump in the tradition and china it's the chinese didn't really have a whole lot to sweat here yes there are some companies kind of that were an app that but the truth is that the tiny out of that situation in a much better position than we came out of it because what jobs really big come

back none manufacturing didn't come back nope sure didn't but the chinese still have the upper hand pretty much across the board in that way and that tells you something about where the rest of the world stands and i think the professor is right when he says there is far more humility coming out of europe dealing with china today than there was in the past professor richard ben swan ben stick around we have another story for you later but thank you both for your time today. a new strain of the coronavirus 1st reported in england has been discovered in the united . states in colorado and now the governor is working with health officials hoping to share and answer questions about what this newest mutation contains r.t. correspondent. on the west coast and the bureau with the latest natasha. yes they are the governor of colorado addressed in this new strain of co that after a colorado national guard member test positive and many are wondering if it's more contagious and will the new vaccines work to contain it the man who tested positive

is reportedly in isolation just southeast of denver and interestingly enough just by contract in this new strain health officials say he has not traveled recently and a 2nd suspected case of another guard member is being investigated governor of colorado he is saying that the testing numbers have recently gone down possibly as a result of the holidays. purge anybody was. a whole lot. better to identify the early. numbers and others and to get to treatment. now scientists in the u.k. say they believe this strain to be more contagious than previous strains but the good news is they say the current vaccines seem to be useful against it the u.s. surgeon general however says these findings are still being looked into. by refuting what they did so it could be true which in the biography it's called the stupid 19 you teach it doesn't the times already this year that doesn't mean it's

more dangerous it doesn't mean more contagious a nurse and california who received the pfizer vaccine still contracted the crown a virus the 45 year old man who works at 2 different hospitals posted on facebook that he received the vaccine on december 18th 6 days later he became sick while working at a covert unit on christmas eve he tested positive the day after christmas and other vaccine developed partly by the university of oxford has been approved for emergency use in the u.k. officials say the 1st set of doses will roll out on wednesday and if you have to the 2nd dose is just a few weeks and you can't. believe. so if you extend the time you've got some protection. that's actually allows us to control. now mitch mcconnell objected to the house's proposal of increasing coronavirus

relief aid on tuesday and this also goes against the president's veto house speaker nancy pelosi condemning mcconnell and senate republicans wednesday in her address saying they should pass the bill giving $2000.00 stimulus checks to the american people in blocking it they are in denial of the hardship that the american people are experiencing. health wise and nationally in every way their lives and livelihood and many cases are on the brink. well the discovery of this new strain has led the centers for disease control and prevention to issue new travel guidelines travelers arriving to the u.s. from the u.k. well they're being required to show proof of a negative covert test reporting for boom bust and sweets r t. a solitary day for the u.k. as lawmakers approved the historic drugs at trade agreement the u.k.'s members of

parliament backed the deal by a vote of 521273 just one day before the december 31st deadline u.k. prime minister boris johnson said the deal will open a new chapter for britain and hopefully benefit both sides. what this deal gives us is i would say pretty much the best of both worlds because you have a gigantic free trade agreement but you also have the flexibility that people wanted in that we all care about to do things differently and better if you if you choose and it means. the 1st after all this for the obvious we've got. a business certainty for all years. the budget deal ensures britain and the $27.00 nation e.u. can continue trade without tariffs or quotas the annual trade between the 2 totals $894000000000.00 and hundreds of thousands of jobs rely on it while the

approved a provisional deal on monday the e.u. parliament vote isn't expected until next month. break but when we come back the pandemic economy has forced many companies to change. the dean of miami have a business about what is being done to limit. what changes. as we celebrate. optimism with risky behavior. like the trolls. they don't want to.

trouble the optimistic. optimists. they could be. pericles it could be einstein it could be all sorts of people steve jobs and they were punished for their optimism but now there is no punishment for relentless optimism. and then as that happens the usual. but you have australian bush you know they go this route yet there are people. who are. used to dumb shit on the new. study did they go to college to induce you to switch. but it seems to me.

you need to go to church for this new look at a lot of these older to turn you into a pretty tool to good use there will be a choice to be on your motors will show you switch to be able to research on the cost or order over out of the roof through with don't be fooled the koku are full of concern you. point a few there beautiful i hear them. we're going. to put so that the new. cola duran dish did their share for more gas than. you'll. be used to when you're in the water with you're the oldest of us with less heat in your i just stuck i don't know if you just want also let the speech of your pride you will know when you are going in the store usually is. is your media a reflection of reality. in

a world transformed. what will make you feel safe for a. high salacious community. are you going the right way or are you being led. by. what is true what is free. in the world corrupted you need to descend. to join us to live. or a mate of the shallows. every year with great pleasure to be answered questions from our viewers and this year is no different as usual your questions focus on future post events my panel in a piece. americans love

by and homed. 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. and be really interesting back 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 and for . but the pandemic no certainly no borders and is blind to nationalities.

as americans we don't have a charity we don't have the facts in the whole world beats to be the chief. judge of. commentary crisis sleaze systems. we can do better we should know. everyone is contributing to each of our own way but we also know that this crisis will not go on forever the challenges craig the response has been must so many good people are helping us. it makes us feel very proud that we are in it together. kovan 1000 has a wildly altered the way supply chains operate the pandemic snarled the world's

sprawling supply chains for months shutting factories disrupting shipping and making of difficult for companies to get products from factories to consumers the changes have been so dramatic that many firms want to for every change the very definitions of supply chains joining me now to discuss john quality family time recall of business and let's welcome back to co-host ben swan. let's start with you many companies that they're looking at ways to prevent the supply chain disruptions in the future the ones we saw during the pandemic if this is if a new way of doing business. supply chains or are extremely critical to the efficiency of the global economy and creek overed the free trader error if i can put it that way the goods and services were moving with increasing lack of friction across national boundaries this gave companies the

confidence to rely on extremely long supply chains typically from asia or into the u.s. for example with covert and the tariff war combined disruptions caused many companies to reassess their supply chains particularly looking at diversification away from single supply as under way from single countries of supply china in particular in the short run there were certain low tech products that. shifted some supply out of china or into viet nam and other southeast asian countries but actually it's very difficult to alter the supply chain. yes and to set up new ones in a short fashion so one of the things if i may just say connecting to the earliest story professor wolff referred i think correctly to the speed with which china

restored its supply chain back into the western economies its main customers and it did this because it was obviously wary of the fact that there was an appetite to diversify to other sources beyond china so the foster it could get its own supply chains restored and running properly again the less chance there was going to be of losing market share for the long run to other suppliers out of asia well much like you said we saw this even before during the trade war where the united states and other countries were changing their supply chain and moving it from china to vietnam india other other countries we talked about diversification and here's the thing that a lot of people have changed instead of manufacturing from single suppliers to others but what are other examples of the things that businesses are doing to

protect against the these future disruptions. yeah well i mean obviously what the dean just said there is absolutely correct it's the the goal is to change what it means to have a supply chain where that means moving factories closer to home diversifying what countries they're in. deciding whether or not to what you can actually create yourself there's a company out of australia for instance that creates titanium powder it does this for the purpose of creating weapons and defense systems this company instead of now having about a dozen companies around the world that collectively will create this powder for them out of metal have decided to do it in-house and so they have instead of continuing to depend on supply chains around the world they're doing it on their own they're creating that in that way so there are there are a number of ways that this is the right now in some cases it is about saying let's use fewer factories in other cases it's about saying let's make these as close to

home as possible you would think that in terms of what we just talked about with china that that would have been china's undoing and the dean makes a great point that the speed at which china was able to get its supply chain systems back on line essentially saves its economy because if you don't the rest of the world moves on from us quickly as possible that was the opportunity that other countries had to be able to get a share of that supply chain market i would say they failed to do so china knew it was coming so they were prepared to do so i think watch where we're watching a massive shift here on e-commerce i want to talk about the move from end person retailers to e-commerce economy in a way that few really had predicted would happen at least at this pace or this this quickly has a pandemic killed in person retail. certainly not killed it and. an incredible entertainment and social value too and person retail that i think will see a resurgence and demond once the pandemic is clear but that having been said

there's no doubt the pandemic has accelerated the speed with which call mess has eaten into traditional retail and we know that many marginal shopping malls for example around the country will simply not come back i think one of the great stories of the last few months is actually the incredible ability that amazon and other companies in this space have shown to be able to adroitly adapt to massively increased amaan that was unexpected in the short term and all of their suppliers including the the shipping companies they rely on the back room computer software and systems companies so they rely on all of these companies were able to step up in the short run to accommodate the incredible

increase in demand that is really a major positive story in aiding from the pandemic in terms of business success well but are there any croc's in terms that we're seeing as an e-commerce side that perhaps we hadn't expected to see during the pandemic. yeah i think there are a 1000000 example. just real quick i think the exact one example you could give would be the sony and its rollout of the p s 5 just as as an example over christmas time anybody who has tried to buy a p s 5 gaming system it has been pretty much out of luck for the last few months it's a fascinating thing go online and just search for p s 5 you can't find them anywhere and the reason for that is because most box stores didn't stock them internally with physical items so target walmart best buy the usual places you would go to buy one of these these items they're not there instead most of it was online though

here's what we saw happen over the christmas season something that's never happened before which is that scalpers and bots have bottom all up so every time there's a restock wal-mart or best buy somebody tries to to restock with the box immediately buy them out in fact the other day wal-mart called on congress to intervene saying that they need congressional help and laws to be written in a way that prevents scalpers from stealing using boss oh all the items because consumers can access them that is something that is entirely of an e-commerce world and not of the brick and mortar world where if they were actually in the stores you could walk into a wal-mart you could walk into a target and you could buy them and i think that's where you use the term cracks there are cracks in that system certainly where consumers will say hey maybe this e-commerce thing isn't all that it's cracked up to be if i cannot walk in and buy the thing for christmas that i was hoping to get on that's why they're thick curbside when there actually are that they're not physically in the store they didn't sit right at the store and when stock and when they haven't stock that's

true unfortunately we're out of time danger of the miami harvard business school and members co-host investigative journalist bent on thank you both for breaking it down to earth. that's all for now you can catch him bust on demand on the part of a t.v. ad with you next time. larry those rooms said there is gun murder now that we have to refer to grow in the green movement of their marriage where by no less than 0 they go to a new spirit in global air flow era doodads way to narrow the day and go to bed and are going to do this if there is an available devices more than 12000000000 is going to go to the country and if you don't need to know about that to your mother

americans are going to close relative business because. you will start their quest to regulate the excel data. that is related to nominate a hero aircraft or the it up 3 to mediocre larry undercover and i'm going to say about a site where you will get exposed on t.v. like if waves are decontaminated my low self your eyes ears and brace everything to. trip down to. marry you can defend yourself i enjoyed revellers from the weapons of mass communication. thanks for the r.t.

. no fear of the enemy as they were going to do research to narrow. an entire village in alaska has had to move if another country run the why bother in america. we do everything in our power protect the. water that is keeping the climate change was the same threat right now alaska has seen some of the fastest coastal erosion in. we lost about 35 feet. 35 feet of ground in just about 3 months while we were measuring. it is fast paced the river is $35.00 closers and how. was your floor i think were part of her 1st for.

me. and the headlines this new year's eve the british government ramps up covered restrictions across most of england as infection spiral following the discovery of a new highly contagious strain. also this hour we hear from frontline medics who have become the unsung heroes of the me here at the pentagon. and we've seen people die in the scene people coming in they call this we have to do a show we want in 5. years what we have to do. and the e.u. strikes a milestone trade deal which high not removing barriers to investment it comes after years of negotiations and despite objections from washington.