this is from bustling business show you can't afford to miss i'm rachel blevins in washington coming up china becomes the 1st major economy to create a digital currency but while it may be convenient privacy advocates are already warning about the new powers it gives to the government what the biden ministration is moving forward with plans to pass a $2.00 trillion dollars spending bill but while they say it's for infrastructure both republicans and even some democrats are saying it doesn't come their support that the pressure is on for the u.k. to decide if it will be the next country to require a vaccine passport some say the plan to fully reopen with separate society into the house and the house not we have a lot to get to so let's get started. beijing is set to take on the u.s. dollar in an unprecedented way as china becomes the 1st major economy to create a digital currency it's a new form of innovation at

a time when everything is going digital but while crypto currencies offer a new world of privacy reports note that china's version of a digital currency is controlled by its central bank which will issue the new electronic money and as a result it is expected to give the chinese government vast new tools to monitor both it's economy and its people it would also create a new opportunity for global reach out a time when the u.s. is involved in conflicts around the world and countries are taking steps to ditch the u.s. dollar so joining me now to discuss is boom bust co-host christiane i now kristie what can you tell us about this new d.c. or sun troll bank back digital currency by china. well this is something that we've talked a lot about before china's been developing this c.b.d. for a few years now ever since 2014 so it's really nothing new in terms of how it works from a user's point of view it's very similar to existing commercial digital payment methods in china ali pay or we try to pay to join us for the fun generate the q.r.

code that can then be scanned by the source payment terminal and the digital army is designed to replace circulating cash that's a quaint and bang so for my government employment what you said was absolutely correct that digital rb will get policymakers greater visibility into how money flows around the monitor around the economy and also to allow them to experiment with targeted monetary policy interventions for specific economic classes regions or groups and while all that down while and good it also means that the government will be able to see exactly how you spend your money when where and how much making the block the civic transactions that are deemed inappropriate or dangerous so it's like having a constant parental monitor on your bank account which really makes it not your bank account anymore right if you can't bend it how you want to do so since the technology is here it's really naive to think that central banks not just china but central banks around the world won't take advantage of the tools at their disposal to strengthen their control over their own individual economies actively so sweden

has also tested its usual krone the bahamas pee in the sand dollar but china is the 1st major economy to create its own digital currency wow that is crazy to think about a central bank being able to come in and literally block your transaction as you're trying to make it and to interfere that much with your regular transactions as you go about your day ok so we've got these privacy concerns that are out there and they're being voiced right now so how will china promote this use and adoption of this digital r. and b. won't there be pushback. well so far they really haven't received that much pushback and from the user perspective turmoil everything's the same chinese people are already accustomed to mobile payments with 4 out of every 5 payments going through an outlet as we try to pay our alley pay and china already has $770000000.00 mobile payment users so to further facilitate except in china also conducted free money lottery the $750000.00 people got the free money in these

lotteries which was incentive to on board at that instant and then other incentives that they're rolling out also included eligible discounts when refuelling a car and the big test consumer appetite and acceptance but so far seems to be going well so it is now working on a method to allow the app to work even without an internet connection so scary to think that then china will require everyone to use digital currency and paper money will be completely invalid right now the c.d.c. has officially entered the 2nd phase of the pilot which has now and the city that's a child in the province wow and we know that the u.s. is watching this rollout watching to see exactly how it goes now when it comes to different digital currencies are there risks to the cryptocurrency market once this launch is officially. there are some risks to big ones and the other all kind that kind of pushes ahead with this that's because the eventual rollout of this digital army could seriously weigh on the craft a market china will tighten regulations at the same time there may be some panic

selling at the new rules and that sucking the quality from trading platforms for just a quiet so right now chinese citizens that are ready to and from converting aren't betokens but the practice still continues under the table using tether or the u.s.t. stable quiet so it's going to change alice's more than $18000000000.00 worth of tether moved overseas from east asian addresses over a one year period so this indicate that it is and are using pether to dodge the rules that limit capital transfers abroad and that china is a huge contributor to that consequently so all the volume goes to each other and china so there will be a huge liquidity shock to the broader market if issues arose that affected the ability of domestic and foreign investors to use heather and as regulated become more and more restrictive on fable coin that could be on the very negative for the market so right now a draft heebie of the law it's setting the stage for the virtual r.n.b. and that includes a provision prohibiting individuals and entities from making and selling tokens and in recent days trying to inner mongolia also banned crypto mining so while there's

still no official launch date yet available this is something that the entire purpose meaning is keeping a very close eye on and definitely sounds like a crackdown on those crypto currencies is taking place and could become much broader as they go forward now what about the united states here why is washington so afraid of this project taking off. well it kind of threatens the u.s. is agenda that we talked about for isolating china and trying to contain it fear of influence it also removes one of the u.s. main trump cards which is to which is total control over the swifts network and the u.s. dollar reserves that is for trade settlements so the population of additional rb could be a major tailwind for the future globalization of china's currency 1st china will probably want to do to arm he was training partners which would then help to mrs status as a global settlement currency and once that becomes the norm it's likely that the army preserves the does could further rise as the world further deep dollar rises

and analysts or path that share among the reserve currencies may reach about 5 percent by the end of 2025 and this would imply a demand of over $300000000000.00 worth of arm b. and meanwhile the flip side the u.s. trade policy could lead to more of the dollar i think should especially in the middle east and russia under the guise of national security trump apparently made a global mess of things flopping on unilateral sanctions on iran and got so in general all competition it's very good and finally there's a challenger now to the u.s. the so other countries can actually choose what to use and so really it really is the end of the u.s. is ability to unilaterally call all the shots. create inside as always on a lot of state care with a lot of moving parts kristie i think you so much for your time. as president biden nears reaching his new goal of vaccinating 200000000 americans by the end of april the administration is taking steps toward helping other nations

ramp up shots this as china and russia use their vaccines to foster good relations in countries desperate to vaccinate their populations many now wondering of vaccines are the new way to establish global influence is turning a child as it explains that seen diplomacy efforts ramping up as we get more confident in our vaccine supply here at home we are exploring options to share more with other countries going forward as united states is to come a 1000000 people that maintain vaccination by the instruction now working to help other countries in need along with granting up manufacturing efforts president biden who is also appointing former obama administration official gail smith who led the american response to the a bold crisis to coordinate that scene diplomacy our challenges now are to 1st to shorten the life span of a borderless pandemic that is destroying lives and livelihoods all over the world

and the 2nd is to ensure that we can prevent detect and respond to those future global health threats we know are coming american leadership is desperately needed and i'm extremely confident we can rise to the occasion the announcement coming after growing criticism that the biden administration's actions to assist other countries battled the cold in 1000 has fallen short at a time when some nations desperately lack resources i know that many countries are asking for the united states to do more. some of the growing desperation because of the scope and scale of their covert emergencies we hear you and i promise we're moving as fast as possible but as washington works to boost vaccine supplies to the rest of the world moscow and beijing are one step ahead why didn't vaccine diplomacy distributing millions of doses either for free or at low costs to nations with skyrocketing cases and in need of those lifesaving shots this pandemic won't end at home until it ends world wide while 500000 doses of china's killed in 1000

vaccine cinna far most lived in serbia on monday venezuela received 50000 new doses of russia sputnik the vaccine for here thought 1000 vaccines we already have 800000 vaccines in the country to tend to the bins when a population is to be able to move forward the goal we have set for this year to back the need 70 percent of the population and that's achieved herd immunity in the country and russia has reportedly sent vaccines to more than $22.00 different countries in successfully producing 3 vaccines including the sputnik the meantime china remains in the lead of the roughly 230000000 vaccine doses it's produced beijing has sent 118000000 to 49 different countries. and not far behind is the european union shipping 58000000 doses to the u.k. japan and other countries now the biden administration has promised to share around 4000000 astra zeneca vaccine shots with mexico and canada a vaccine that has still not been approved in the u.s.

reporting for boom bust trinity child as r.t. . a new wave of sophisticated robots are hitting the market while the advanced intelligent bionic creatures are designed for repetition some are questioning if that means they will eventually replace human workers altogether artie's montages takes a look at the newly unveiled design. structures designed to go into some of the most difficult environments in a warehouse and handle told dirty dangerous physical work needs stretch the latest creation from boston dynamics a u.s. based company known for its experimental humanoid robots and dogs like androids stretch of the ability to avoid obstacles it's just one of many new traits given to this new line of sophisticated robots some are even programmed today ants stretch was just recently unveiled showing off how quickly it can load and unload boxes and trucks move them in warehouses and even build pallets and distribution centers that

can maneuver $800.00 boxes an hour through its special sensors michael perry a boston dynamics says in the u.s. alone there's over $150000.00 warehouses but only about 20 percent have what he calls sophisticated warehouse animation tools installed within them so this in turn gives boston dynamics quite a market for selling stretch the thing that makes stretch so unique is that it's able to move around the warehouse and handle a variety of tasks without having to stand up a lot of fixed automation and fix infrastructure to support it that means that a warehouse doesn't have to shut down for several weeks in order to get stretch up and running in their operations and with not having to shut down for weeks some question if this means a robot like stretch could replace humans at the workplace beginning at warehouses stretch can operate for 8 straight hours he still needs to be plugged in while the coronavirus has cause for many workplaces to limit capacity and social distance

a tool like stretch could easily continue productivity without the worry of the virus well boston dynamics says this is not the goal others aren't so sure according to a new report from the brookings institute black and latino workers may be more susceptible to having their jobs from place through artificial intelligence the study is stressing the need for labor unions to work with these companies their hope is to provide employees the training they need to work with the new. ology instead if it were placed in workers but warehouses aren't the only target for robot like workers the oil industry believes their next with potential hundreds of thousands of job openings including the need to drill the journal of petroleum technology estimates one out of every 5 jobs in the oil industry will be replaced with advanced robotics by 2030 boston dynamics is currently seeking customers to join the pilot test with straw and see how well it can unload trucks and other tasks the company says they plan to release to stretch for sale sometime next year reporting for boom bust suites r t. time now for

a quick break but when we come back could the u.k. become the next country to implement vaccine passports and why are some leaders saying it would create a system of house and have not well this costs next and as we go to break here at the numbers out the close. we are segregated only by social class. people also in poverty by 1st place if you're born into a poor family you're born into

a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger than you born into generational poverty. it's a tough fight every day so you meet your needs and the needs of your family. is you'll be via reflection of reality. in a world transformed. what will make you feel safe from. high salacious little community. are you going the right way or are you being led. directly to what is true what is great. in the world

corrupted you need to descend. to join us in the depths. maybe in the shallows.

the u.k. has been praised for its ongoing vaccine rollout but now the government is facing the question of whether to take steps to implement what has become known as a vaccine passport as they move forward with fully reopening their country while prime minister boris johnson has indicated that plans for such measures could be coming together as early as next month the leader of the labor party has already said he would vote against it warning that a force vaccine passport will lead to discrimination the leader of the liberal democrat party has also voiced his opposition and said that such a measure would be separating society into the haves and the have nots so joining me now the. board which president of straw mark i'll see hilary it's great to have you on the show today now i know we've heard from the british chambers of congress and they are calling for decisive action on vaccine passports specifically and they

seem to see it as a roadmap to opening the economy back up and providing businesses with the demand they lost over the last year is their confidence in boris johnson's government that it will be able to accomplish well pleasure to be back with you rachel i think the answer to that question is it depends who you ask ave going to be supportive of whether boris johnson has the confidence i think actually if you'd also that question 3 or 6 months ago the answer might have been no however now with the success of the n.h.s. the national health service rollout of the vaccine i think there's increasing confidence that the government is able to accomplish such things although of course he only has jurisdiction over the country of england obviously there are other countries within the u.k. such as scotland and wales and ireland he doesn't have jurisdiction over them or so he called basically implemented across the board. that makes sense and they may be looking to see exactly what kind of tone he says and how they're going to follow

before yes they would consider measures like that one right now let's talk about some of those criticisms and some of those concerns from the different from the different political leaders who say that they don't support the measure because they fear it will create a system of have been happening not is it likely that a push for a vaccine passwords would actually be successful right now and how is the u.k.'s economy reacting well a couple of things on that i'm in terms of how the economy is reacting the i.m.f. has just raised its prediction for the economic output in the u.k. to 5.6 percent and it was 4.5 percent back in january so that's a very good indication for the british economy and it's also raised it over 2022 that's juxtaposed to the e.u. countries that have fairing rather badly such as spain italy germany france not so bad at the moment but i think that that is a good prediction in terms of productivity increasing in the u.k.

there's increased confidence with regard to the vaccines now in terms of the actual pa sports they're all 70 m.p.'s who've banded together and said they'll oppose it for exactly the reason you just said rachel there are those that have ethical concerns and those that say it will separate society between the haves and the have nots those away able to get the vaccine and not right now over the hoff of the british public has been has received that 1st job and it's been vaccinated so it's really i don't think so much the house and the have nots it's a question of timing i think a lot remains to be seen and what you're going to see is those bars johnson announced on monday you will see this tidbit approach things are going to change on april the 12th things are going to change in may and then things will change probably again in june so it remains to be seen whether a vaccine possible will be implemented but right now i don't think there's universal support for such. and it is interesting that they're still using that approach because it seems like that's kind of what they used with the lock downs

and they got criticism because there were some areas where people were free to go about and live their lives and others where they were on a harsh lockdown and not just kind of depended on where you live so you could go to one area and eat dinner and then go back to your house and you know take whatever you got try us john along with you ok so we're seeing the u.k. have some success when it comes to this vaccine rollout and we know that johnson is also rolling out a national program that promises to make twice weekly cova test available to the public now despite successes with this vaccine the u.k. has run into problems with testing in the past so how has the response of been to the latest plans but a few things i'll just make a comment on your point just reason about that the ticket approach the kid approaches taken in the u.k. because of course as voss different from paul to the u.k. really very rural the southwest many areas in the south and then in the north you have some very congested cities an intense amount of immigrants and very congested

of an areas so i think also this new question this question you're going to have the same thing you've got different parts of the country where people live in a completely different fall to the environment so to have a unanimous support unanimous support for something that right now can't be ubiquitous is going to be very challenging i do think that given the success again of the rollout of the vaccine to the testing to have those 2 tests may be very possible you're saying the british public i think somewhat more optimistic today than they were about anything the government was proposing molten 6 months ago so that's probably a good sign and of course the best part of this is this seeing most of the british public now is seeing this in a call and a contrast to the way things are in europe only 15 percent of the german population is even with these devices and it's was in france so what you're saying is the british realizing gosh you know we didn't think the government was perfect. but they're able to get things done buses those governments on the continent and it definitely is good for them to see that optimism now whenever it comes to was going

on here in the united states we know that the stock markets were really high on monday over these hopes that not only are jobs coming back but also that the buy ministration is looking at this $2.00 trillion dollars plan that they say is for infrastructure we know that there's been a lot of back and forth between democrats and republicans here but how is something like that impact the u.k. the u.k. still really relying on the u.s. and exactly what it's doing moving forward with regard to the infrastructure that we know like less than a 3rd of the infrastructure bills and anything to do with infrastructure is kind of like to me it's like the coated relief package where some of the cent of that was to do anything to do with code relief so the u.k. of course obviously i wouldn't say is totally dependent on the u.s. no because liz strong has made over 60 agreements across the globe trade agreement she's of course the secretary of trade and also there's a great amount of optimism now in terms of the agreements that the be made recently in the pacific how about yes an agreement with the u.s.

in terms of a broad ward trade to give greenman would be fortuitous and it would be fortuitous basically for both nations to nations that all obviously common language and have had a longstanding positive trading relationship if there's anything we've learned about especially legislation here in the u.s. is that they name it one thing and they include all sorts of other point buy it yeah thought it was a yes yes and they always pick the name that is the most appealing to the public of cried now one of the things that biden ministration and says it wants to do is to increase the corporate tax which was previously lowered by the trumpet ministration to try to pay for this $2.00 trillion dollars plan and we've also heard from treasury secretary janet yellen who says that she wants a global minimum corporate tax to make sure that a lot of those jobs don't go offshore is whenever they increase the measures here is there any chance that the u.k. . they are even the e.u. would get on board with that especially when they're looking at what the us is

doing a possibility that they could be getting those jobs there well i would think it's very interesting rachel when you know why i'm not meaning the us sort of touts competition in america and then wants everybody else not to be competitive it's sort of saying it's like saying to other nations well you know just don't do anything in your own self-interest abide by what we now want because we want us all to be on a level playing field it is speed has sturrock and tons of it is no i don't know that 11 change in terms of these corporate tax rates for example has won the island had always lowered its tax rate lower than that of the u.k. and did attract a lot of international companies that went to ireland will based in the island specifically to avoid taxes also we have covered on this show many many months ago before coded what was called like the double dutch sandwich and that was corporations that would found paul would have a one foot in part of europe one foot in somewhere in the caribbean and one foot in ireland so this double avoidance of taxes so i don't think you're ever going to

stop international corporations from taking advantage of the lowest corporate tax rates and good luck to janet yellen because that's like asking every state also to have the same corporate tax rates and have the same and pull a state taxes like you nobody's going to florida because there's no income tax in florida you call it stop corporations going to where the tax is a lot of good luck to janet yellen i can't ever see that going through it never has historically why would it now yeah that's an excellent point and it certainly will be interesting to see exactly what the buy ministration gets accomplished and what provisions then go on to the next administration and the next one after that to try to accomplish excellent points to consider here hillary ford which thank you so much for your time and insight pleasure rachel. that's all for now you can catch him boss on demand by downloading the portable t.v. out for your apple or android device was here next time that bad so it's don't forget to question more.

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the european medicines agency confirms the astra zeneca vaccine is possibly linked to unusual blood. saying it should be listed as a very rare side effect of. the arrest of 2 terrorists on the us mexico border leads to further criticism of the by the ministrations handling of the migrant crisis. australian stranded abroad for months with little option but to follow human rights for their own country's refusal to let them come home we speak to an australian stranded in russia. and it is a gross violation of our human rights to return. that i should not be arbitrarily deprived the right to return to my home country.