on the rise next the boom bust asks what that actually means in the time of co but in particular is industry finally getting back to a semblance of normality stay close that all begins in moments. russia e.u. relations are at an impasse the kremlin has me clear it will no longer tolerate the e.u. lecturing about values and so-called international norms and the russians about the e.u. interference in russia's internal politics refuses to treat russia as an equal partner until this changes this bilateral relationship appears to be on hold. china's rising text is set to be discussed at the national congress as the rest of

the world is continuing to fight against the copen 1900 them it will discuss it a lot of its major players have decided to maintain output levels straight ahead we'll dig into the details of china as the national people's congress convenes friday in beijing the country's ruling communist party uses the gathering which will mostly be held virtually due to the pandemic this year to discuss economic and social policy the economic focus is expected to move away from the copen 1000 recovery to more long term planning while in the past the event generally has been about domestic policy international issues like tensions with the west over technology are starting to take center stage in fact back in october following washington's decision to cut off china's access to u.s. processor chips partly technology power for more on this in the state of trade between the united states and china let's bring in john quelch dean of the miami herbert business school bus coaches are we expecting to be discussed in beijing

this week. while the big domestic policy at hand is to promote technological independence that has become a think priority ever since the trade war and sanctions which have revealed china's dependence on u.s. so this agenda is to prioritize tech is meant to propel the economy into the future and establish itself as a global superpower so the 5 year plan is to boost the domestic market and reduce its dependence on the outside. world and some other key issues that this meeting will address will also include growth targets analysts estimate that girls will average about 5.5 percent year over year compared with a target of more than 6 percent in the previous plans then there's also the stimulus withdrawal analysts expect that students withdrawal to be mild and focus on reducing excessive debt growth and the directions that our economic policy is likely to be towards normalisation so fiscal and monetary support will likely be taper but not completely withdraw and also investors will also be watching out for more specifics on how the government will be to its goal of. greenhouse gas

emissions by 2030 and achieving carbon neutrality by 2060 and finally the biggest issue of course is the technological aspirations and at the center of that beijing wants to push to develop new technologies for critical components such as microchips so more resources will be allocated towards science and technology are in deep financial reform will also be a big topic as a 5 year plan will into further open up the financial system to foreign investors and reduce the limits on chinese investors moving cash overseas and of the shows are considering making the last listing will more widespread however at the same time beijing is also tightening its grip on technology giants such as and group 10 said holdings in order to curb their growth in the financial services given their enormous presence in the online payments market doing well what does all this mean moving forward will we see a shift in technological dominance from the west to the east within the next few years. well i think we're moving from the tariff war to the technology war there's

no doubt about that but the u.s. has multiple advantages apart from its current leadership in perhaps 30 or so technology areas that are critical to innovation. particularly important to note is the u.s. has maybe 15 out of the top 20 research universities in the world the reason research assets and infrastructure within the us public and private sectors are really very substantial and the u.s. is now totally aware i think that it is in the technology fight with china and therefore is going to double down further on r. and d. investment particularly in basic research and that is more likely i think now with president biden in the white house so. a few years depends what you

mean by a few years but it's going to be beneficial to consumers and prosperity worldwide to have technology competition this intense between china and the u.s. that's going to help the consumer in the long run you know kristie i want to follow up on something we talked about earlier this week president joe biden's team says it's going to use quote all available tools to fight china's unfair trade practices what is using challenges does the administration see with china on the trade front aside from technology. all of them like a by an administration that's continuing its tough on china stance and already try to contain and figure out how to coexist with the rising superpower so that by now i'm going to station conducted a comprehensive review of the u.s. trade policy towards china where outlined several issues of concern including intellectual property protection and market access restrictions as. censorship so

this comes as biden's nominee for the u.s. trade representative awaits for senate confirmation so if confirmed taiwan and karen a long list of unresolved trade and terror distance from former president transom ministration and part of that list of course includes phase one of the trade deal that has been delayed due to culprit so during her confirmation hearing last week she said that china only unlikely at this point and this is the latest sign that tensions between the parties will continue under the new administration the u.s. is still threatened by china's technological edge and in the report there was absolutely no mention of cooperation or coordination with china and this sends a very dangerous signal as biden has the resources to improve ties with china but it looks like rather than deescalating he is taking the same course of attention either biden has so far ignored repeated calls from beijing to get bilateral relations back on track so the administration needs to make a very firm decision confrontation did quote this is something we talked to you

about before president biden took office now of course he's only been in there for about a month and a half so it's hard to see exactly but analysts had expected tensions to deescalate with china with the new administration against china again how do you see all of this shaking out. well president biden has a very substantial set of domestic challenges and it's unlikely that he will risk political capital in the short run gratian rolling back the tariffs for example the public rhetoric against china i expect the rather colorful rhetoric of the previous administration to be replaced by. strong words but strong words couched in diplomatic language i think where president biden can make considerable progress in the short run is by rebuilding alliances with. with the european union and with other countries in asia that perhaps the

trumpet administration didn't know it sure as well as it could have that will enable a biden administration to shore up a strong stance against china with a collaborative support from its allies around the world that's going to make china are a little bit more. willing to come to the table than in the previous situation where we had the e.u. and the us really at odds with each other and china was able to divide and rule between them it's them interesting to see what happens dean john quality of the mayor of business school and boom bust goes christie i thank you both for that expert analysis. thank you. and the european medicines agency that you use drug regulator says it has started rolling reviews of russia's sputnik vicodin 1000 vaccine early reviews are meant to speed up the approval process by allowing

researchers to submit findings as they come in in real time rather than waiting for a final child that had to be released now despite the review by the e.u. officials say they have no current plans to add the russian vaccine to its rollout while clarifying the regulators decision would only be based on health related criteria. currently no talks are only going to integrate discipline exacts in the portfolio i would like to stress however that our vaccine strategy is an joint strategy that needs a strategy which has been designed and implemented within the member states commission and member states together and so member states and commission may decide at any time to integrate all the vaccines into the geopolitics have nothing to do with the fact that you consider that would consider a vaccine safe and if you keisha's or not it's based on the assessment of the vaccine. in january hungry was the 1st e.u.

member state to give sputnik ve emergency use approval. so with this in mind let's take a look at the state of the vaccine rollout with our 2 correspondents it's our before we get to the vaccine numbers let's take a look at global cases well outside right here in the u.s. where newly reported cases and now they both rose from a day earlier as a public health officials and experts warn that a recent drop in infections is showing stop signs of flattening now the possible stagnation that we're seeing right here in cases comes as more states are rolling back restrictions showing a significant drop from highs reached in january and this move is also created a lot of friction between individual states like texas and the white house with president biden criticizing state leaders for loosening restrictions calling it a big mistake now health officials on the other hand are still urging americans to

continue to wear masks and practice social distancing now here's the other 4 countries that are seeing the morse significant cases at the moment i want to start out in india where new cases are beginning to increase again after months of consistent consistent decline now india is dealing with all sorts of variants of the virus plus they have been very slow to start their camp vaccination campaign now even though you know india is already the world's biggest vaccine producer in fact most of the code in 1000 vaccines that the rest of the world is using is right now being manufactured there yet most indians don't have access to it right now india aims to vaccinate about 300000000 people in by july but they're nowhere near track to meet the target brand now brazil is not looking good at all either in fact for this 2nd consecutive day. resilin has registered record highs

not just in cases but in depth now they're also struggling to secure distribute and administer kovan 1000 maxie's and health officials are very worried that if brazil is unable to control the spread of the virus it could become the epic center of the mutation of the virus which could potentially be more infectious and a lethal now moving over to europe in italy and france that's seeing the most increase in cases now that. in optic in cases is mostly contributed to the very end 1st discovered and britain and that's responsible for all the new cases that's happening that they're now in order to combat that increase italy they just joined france in the one shot approach aimed at saving as many doses as possible due to the vaccine shortage that europe is facing right now and again the theory behind that is to reconsider whether doses intended as

a 2nd shot could be distributed as a 1st dose instead to offer at least some protection to a great number of people that way dad least get to control the increase in new cases brant and sorry we're hearing more discussion about vaccine passports once again what can you tell us about that well you know right now for anyone thinking of traveling internationally later this year you'll likely need to prove that you're vaccinated now governments and businesses are considering a way for people to prove that they're been vaccinated were a salt called vaccine passport that could determine whether you can travel even stand a hotel or even visit a bar or restaurant now u.s. is right now looking to join a list of nations that are looking into creating a digital code in 1000 vaccinations certificate now so far the european union and china both said they would move ahead with plans for a vaccine passport and now some countries are also looking at is the. border not

just for travel but also every day i get t.v. news for example the u.k. government recently announced that they're going to reconsider whether a proof of vaccination would be required to visit bars and restaurants or simply just return to work visit because originally they said they would not looking to a vaccine possible but now they are and in israel where a vaccine passport was launched last week now it allows israelis to have done vaccinated to go to hotels and jim now saudi arabia they have launched a similar program well iceland they're willing out of vaccine password to enable foreign travel now obviously all of this opens up a whole different range of conversation about security of your data and having your life being governed by your helps that is brant or g. correspondent so i have to thank you so much for keeping us up to do. time now for a quick break but here because when we return opec class members have decided well

industry as we go to break here the numbers of the quote. small are going to. cause i don't need to tell him. there's a mic metabolife small molecule that our bodies maker and i make less of it as we get older this is one of the things i work on it's called an 80 and because we have

less of it we become more prone to infection ours could be to one of its ways of attacking the body to deplete the body even more of that chemical which we need to fight infections. this spring carmencita's those folks going to syndrome. for most from the in the early ninety's seventy's helmet a psychologist in 6 only just proposed to the west but in senate a social experiment he wanted to let paedophiles adopt and care for neglected boys experiment was a failure. if. that's the model. don't go on those who want all these new or old junk to change i believe that sex with older men would help with the. well it's socialization of the 30 years many

children were paedophiles to raise the destruction of the herd the dogs. were told for. someone to go to. welcome back a group of some of the world's most powerful oil producing nations met thursday to discuss the next phase of production policy amid the ongoing krone virus crisis now as we have been reporting for months ministers representing opec and non opec partners also known as opec plus have been meeting regularly to discuss levels of oil production the 2 most influential members of these groups are saudi arabia and russia and ultimately they decide whether to increase or decrease worldwide production levels joining us now to discuss this and other many other issues is name auslan chief market analyst with eva trade and co-host investigative

journalist what happened and how is this going to affect global oil supplies. for going through i mean i think the market was very much anticipated to see the recovery but the massive from opac is very clear that on weak recovery that we're seeing around the globe is still very much joe and there is still enormous amount of us in that because of this don't want to start putting extra supply on the market because that would obviously stick with viruses but there is another issue and it is well and that is how high oil prices are really enormous amount of detail going to this ongoing in place and do pay that we are hearing and that is creating an enormous amount of. critics and now when i want to shift gears a little bit to u.s. jobless numbers they've come out and once again numbers are good with around 745000

people filing unemployment benefits for the 1st time last week what does that mean overall for workers in the u.s. economy. well it's certainly not good i mean you know we like round numbers right and one of the numbers that comes out of this is that this is now the 50th 50 50th we can a row in which we have seen the overall jobless claims coming in higher than they were the worst week of the great recession back in 2008 so what we're saying is 50 weeks in a row it's been worse than it was in 2008 olds really what that means in terms of numbers is about 10000000 people continued to be without work in another 7000000 people have stopped looking for work altogether so the numbers are necessarily surprising is kind of what we expected to see at the analysts expected about 7 150000 jobless claims to be file 745000 what it came in as but it's still not good news and we just in terms of getting people back to work getting the economy moving again. we're not in a good place and it doesn't look like we're making

a whole lot of progress to get back to a good place and now knowing we're seeing a major sell off in u.s. equities thursday to your point earlier about after fed chair drone powell said the economic reopening could actually cause inflation to rise temporarily what's happening in markets and how big significant is the sell off. you know really reminds me of watching another episode from a saint. or let's just say another episode of the same merely because we've seen this taber tend their own power that's very clear message that it's ok for him to stomach a little bit of higher interest rates in the short term however if the situation does get out of control and his last game going out of control then the reaction then starts to the asset purchase program or who bring another twist program but they're put to rest in place and ships are thinking now

what are we seeing in the hall and it is very essential to pay attention to this one what he's seen in the market is how. much this is marked down this is nothing to worry about on a longer time because we have more people who are getting right see economic recovery is on the right track. and i want to switch gears again here. president joe biden's pick for chairman of the f.c.c. gary gensler actually says he's open to the use of digital currencies but says investors must be adequately protected is this a good thing for the crypto industry. yeah but i'm crypto 'd i mean i guess gary gensler could be a positive in that yes that he is if he runs the s. and see if he believes the digital currencies are the future and they're all seeing i think it's important to recognize though that there has to be clear guidance given by the f.c.c. on these issues because at this point it's still very unclear what constitutes an

initial securities offering that come through cryptocurrency so there's a lot of confusion about what that consists of you know one of the things again sort of said in the past he says that that crypto currencies are rife he says with scams well actually that's true that's not an untrue statement the problem is though is what does he classify as a scam does he believe that only certain group of currency should be allowed to exist and others should not i mean we don't know the answers to those questions and honestly about what exactly this crypto currency landscape will shake out to be in the future so we just don't know now and i am crypto currency exchange crack in theo has made headline mission what we listen and learn from citibank as well because citibank thomas they came out and then they also said that the current sits on a tipping point where it can either become currency focal 'd trade or it can just be another speculative bubble what we've barely at

a not research is that i think the adoption breakthrough with respect to big corning has become enormous he healthy if you look at changes it becomes clear that more family offices and institutions are fine because their role is very very different becoming a lost all or all of those orders so i think the path of least resistance is certainly skewed to the upside what on a time 100000 was very much a number where she will say that ok well one seems to look like today but i think 100000 is a very realistic number. this year. chief market analyst with every trade and boom bust co-host ben swan thank you both for your expert analysis. thank you. and finally a space x. starship prototype exploded just minutes after landing following a high altitude test wednesday evening of the s.

and 10 rocket which had 9 also explode on impact as they were unable to slow down enough at this time it is unclear what happened with s n 10 now the test flight of the starship project. and now it's the mission back in 2018 but the plan has changed from flying artist into lunar orbit to taking 8 members of the public on the trip the billionaire says i was says going into space needs to advance whatever activity you're into and you must be willing and able to support other crew members who share similar aspirations the mission plane so you space x. starship rocket and is set to launch in 2023 and travel further than any human has in history and that's it for this time on boom bust you can catch us on portable t.v. we'll see you next time. since it doesn't. live as if they have his own.

clock if that's. just the type. of them. but again it was on the. the.