prepare for their face off at a virtual summit. instead, taiwan is expected to dominate the agenda. we'll discuss was the head for the hotly anticipated discussion. then rapid inflation is making millions of tumor. think twice when holiday shopping. on sunday, treasury secretary janet yellen worn american muscle in as price are expected to keep creeping upward. we'll talk shop about when the economy might normalize, and later britain and the you remain in a tug of war over the trade following the contented breakfast deal, we'll discuss. we got a lot to get to the top right and we leave the program with a virtual summit between us president joe biden. and chinese president, seizing ping, being held monday evening. this is a highly anticipated call between the 2 world leaders, and there is much to talk about despite lingering concerns about supply chain disruption and tariff. taiwan will take precedence when the 2 leaders this talk. now we've watched the island region become a tipping point for us china relations,

especially after us, special forces are found training the taiwanese 1000000 mil military. that is to say this while china has dispatched more than a 100 aircraft over surrounding waters in the south china sea activating tie was missile defense systems. joining us now to break down what is expected, are boom by the co host, spend swan and christy i. ben, i want to start with you on this. now, it seems like the economic tension is pleasing. the 2 sides would really take precedence here. so why is all of this focus being put on taiwan right away? well, i think there's a couple of reasons for it. the biggest is because i think china is really pushing this issue. in fact there's been a number of editorials that were published on monday in china. that specifically speak to this issue that president g is going to essentially tell us, president abiding that the us needs to take a step back to back away from its stance on taiwan and to accept the fact that is,

is committed to re unification with taiwan in the foreseeable future, the quote here from the china daily english version is quote, no matter the cost. does that mean that china is willing to actually provoke all out war over taiwan? it's possible, we don't know, that's the case, but it certainly is kind of at the forefront of this discussion. as you mentioned, you would think supply chain issues a lingering tariff. there's a lot of issues that could be talked about here. and those are all taken a backseat at this point to tie one. you also mentioned that there's been a lot of provocation over the last few weeks from both sides as we've talked about, you know, china flying a number of military aircraft over the tie when he's aerospace, that's been happening with great frequency and increased frequency. but at the same time, we're also seeing the u. s. continue to provoke, sending worships into the south china sea in ways that are provoking china. so the real question of what this all comes down to is, how serious is china about reification? if you listen to what's being said,

it seems that they are very serious about it and how willing is the united states to get into it all out war over taiwan. i don't know that we are willing to do that . and christy on that no, it's divided ministration has said from day one that they want increased competition with china, not conflict. how does that play into the issue of taiwan? it doesn't, it really doesn't. because competition means just focusing on your own work, whether it's technology, national defense, 5, g biotech, whatever. and it's just trying to advance a field further, developing better techniques, some products, and then the marketplace will actually dictate the winner of that said the competition. taiwan has absolutely nothing to do with competition. it is the u. s. putting into china sovereign affairs, which basically is saying that the u. s. is putting itself in the middle of conflict and has absolutely nothing to do with it. so totally backtracking on what they had said that the u. s. wants competition and not conflict. so it is expected that present she jane paying will use this meeting to warn by then to step back on

taiwan issues as beijing is resolved, as been said to realize national re unification. and to answer the question, china is extremely serious about this because it has always been this one, china policy always been for hundreds of years and that is not going to change. and so this is a matter of china sovereign affairs. so in order to reduce the risk of a collision between china and the us, the us has to prioritize its objectives, what it alternately wants to achieve with china going forward. and then for the us tie, one away can be seen as a pon and its competition. this competition with china, because this would mean that china would continue to exert its economic and political power spreading its influence. and this is something that the u as a starting to view as a threat because the u. s. has always been a huge exporter of culture. us entertainment, us pop culture, fashion, trends a way of life. these are all things that have been exported due to the u. s. as influence and now that influences being undermined by china and china's way of life

. it's very interesting because obviously there's a lot of pressure from the business community to keep exactly what you just said going where we can export our culture to china. but obviously there have been some concerns in recent years over that now been expected that in the discussion will also surround the issue of climate change. what would the by the ministration be asking for from china in that regard? well here's, here's part of the problem with, with big questions about climate change, right. is that yes, essentially what the white house, the signaling in advance of this is that look, they're going to impress upon china. that this isn't really something that they're asking as a bargaining chip. this is in china's best interest, but here's here, the factor. china doesn't care about climate change right now. they care about energy, they care about cheap energy for their people. and so china is rapidly, as you guys know, building a large numbers of coal powered plants and getting them online. and they have been in this rapid process of doing that kind of the single worst thing if we're talking

about climate change policy is single worst thing you can do and try to made a very clear wife. because we're concerned about getting energy to our people, that is their, their form of thought. and so i think this kind of fits into though the discussion about taiwan right. there is the cultural disconnect between the waiting lighted states thinks about to be about these issues and the issues that the biden administration, excuse me, once to put forward to china and the way the chinese receive it. so when it comes to taiwan, you know, there's this idea, hey, you just need to listen to us and let us weigh into what you're doing. and we're going to stand with taiwan. and there's all these ideas of kind of, you know, the way the us once you to do it versus the way that china views it, which is that the u. s. has never been weaker in their mind. the u. s. has never been more prime to be toppled from its position of power in the world. and china is actively doing that in many ways. but i don't think they're doing it simply for the sake of toppling the united states. i think they're doing it in order to do what they believe is best for china. and believe it believe that that being really is

concerned with this idea of re unification. as kind of the crown jewel in his administration, in the time that he's been in power, i think this would be the thing that would kind of be his, his keynote moment if he can pull it off. and so i think he is absolutely committed to moving forward on it. and chris have about a minute left, but the real question is, where it economics show, we started talking about the tears from the trump administration. do we actually anticipate that this issue will even be covered during the discussion? looks like that's actually going to be taking a back seat here because according to a senior bite in ministration, the these points are not expected to be a very significant point of discussion. so given how high profile the you are trying to trade and have worth have been this revelation that they will not be high on mondays agenda was actually unexpected. and the fact that supply chain issues are not being significant. this was a big surprise given the unprecedented global supply chain disruption. but so far,

the white house has refused to offer many concrete details about monday's agenda. and so while the, by the ministration is in place, these topics on the agenda, the tara, is expected to be a major policy priority for beijing. so most likely they will be the ones to bring it up. why are we going to say it seems like maybe they're setting up for they thought there might be multiple virtual summit in the future, and that's when they'll get to those economic issues that are so important as well . must co host spend swan and chris the i thank you both. thank you. from sony to test, let's say b m w. there's an ongoing shortage of semiconductor chip that become a choke point for tech industries around the world. but while intel has pitched a plan to boost its production of the thought after components the by ministration disputed it plan to ramp up manufacturing and a plant in chang, new china, according to people familiar with the issue cited by bloomberg. the president has continued trumps crackdown on chinese tech like while way and v t rejecting fcc license request by both companies citing concerns over national

security and a push for more domestic manufacturing. this while the gap continues to widen between supply and demand for precious semiconductors and their components. so it looks like you still may be out of luck when shopping for hi and electronics. as experts estimate, the chip shortage could last through 2023 by an administration. officials took to the sunday shows over the weekend to address rising inflation in the country as we talked about recently in october, consumer prices rose 6.2 percent year over year. the highest rate in more than 3 decades in appearance on cbs is face the nation treasury secretary, janet yellen, was asked when we could see inflation come down to the federal reserves. target of 2 percent say it will all depend on the state of the pandemic. and the quote successful response from the white house. the sentiment was echoed by national economic advisor, brian de steering appearances on sunday as well. the also told a b c news that the recently signed infrastructure bill would help to stabilize

strain supply chains and flow inflation. meanwhile, after consumer prices hit a 13 year high for the euro zone and october, european central bank president christine, the guard admitted it will take longer to decline than originally expected. the concession came during an address to the european parliament economics committee, where her comments suggest that the e c, b, will revise upward, is its expectations for rising prices and put off any interest rate hikes in the coming years. so what is the take away from all of these wranglings? rising prices? well joining us now discuss is octavio mirandi, he's ceo of optimist. l l c. now, octavio i want to start with the us. seems like, yellen is trying to say all of this is due to the pandemic, which we've obviously heard for over a year and a half now. but we also hear all the time that it's the easy monetary policies from the fed that have contributed heavily to these inflationary pressures. what's your take on the i think there's absolutely no doubt that it's directive because of the

feds monetary policy. they just come to an enormous amount of liquidity in the market, and that has to have an impact on prices. eventually, i might have an impact later on down the road, but certain is going to be impact. now you could argue, i'm not, i'm not to be favorable towards this argument, but you could argue that the fed had no, no choice, but to print all this money in response to the pandemic. i'm not sure that's, that, that's the argument. but i think that's probably what you're saying, but i think there's no doubt the proximate cause, the inflation is this enormous wall of quitters. it is creation, and it's coming home to roost. and i fear it's actually going to get worse. you know, consumers and corporation, the u. s. a sitting a lot of cash still. so during the pandemic, a lot of consumers and corporations put a lot of money aside and didn't spend it. now as they start to feel more comfortable. and so let's look at things and they say it looks like a manager, they're going to spend that money driving up to mount further and driving up prices . so we're not out of this by any stretch of imagination. it's not looking good in

terms of inflation, and i don't think the by mistake is gonna help very much on that front. and it's interesting because we've asked also heard the administration say over and over again that the economy is doing too well. and that's why conflation is up, we've recovered too fast, too quickly and other saying, well, it's going to take the pandemic kind of work in its way out before prices come down . now obviously the white house is also pushing this $1.00 trillion dollar infrastructure bill and a 2 trillion dollar social spending package. so they're going to say it's going to help with these problems. but is there anything you're actually seeing that would back up these huge spending bills actually bringing inflation down know, and i think they know it is not gonna help inflation. i mean, you could argue we need to get money to certain places and we need better infrastructure. we need to spend money on that. look at the amount of money they're gonna spend on construction on roads, on buildings and things of that. so at least it's also very energy intensive spending as well, which is what construction is. so they can be in boosting the government's demand for construction goods for construction workers,

for energy that's going to drive those prices up. the social spending bills will put more money into people's pockets, might argue that's a good thing, but that will certainly increase the mom as well and increased prices. so i'm not sure i think they, they're fully aware of this and they just want to sort of say, we're going to spend the money anyway. and we're going to pretend it's going to help the place. i don't believe actually believe that this is going to help. and obviously remember during the height of the pandemic, what was one of the main inflationary concerns construction goods, and that's exactly where that's going to be a problem as well. now, meanwhile, nearly 2 thirds of the biggest, publicly traded companies here in the united states have reported bigger profit margins so far this year than they did for the same period in 2019, which was prior to the onset of the pandemic. that's of course, according to data from facts that so what does this really tell us about all these problems with supply chains and inflation? that money just going all the way to the top? especially when there's inflation. it can boost corporate earnings in a certain way because a corporation is selling its goods at today's price. and the cost of creation is

goods of basically yesterday, price, as those prices increase as that effect where you basically say the corporations going to do a bit better and as a result of that inflation. but i fear what, by doing ministration is going to do next. i mean, inflation is going to increase, i really wouldn't be surprised if somewhere in 2022 by the middle of the year. we saw price is increasing over 10 percent the, i think we're well tractor to achieve that. and the bite ministration is going to see this is an enormous political liability and going to have to do something drastic about it. now we're already hearing some senate democrats closing ideas about banning us oil exports, which would of course crush usa oil companies profitability. but i think they're going to do something more dramatic than that at some stage in 2022 before going to mid term elections. and basic, put something to place like price controls and wage freezes and stuff like that, which would be a disaster for large corporate so you can find it very, very difficult, profitable, under that kind of scenario. and i think that's very much what we going under the, by the ministration. they're going to show you something spectacular to get

inflation under control. and i want to hit on the, in the be before we go, as we mentioned that there at the intro, what's the outlook for the eurozone prices continue to rise? well, i think the e c. p has, has put so much into the market and manipulated market so much and kept interest rates so low in basically next the next 2 to 3 for years and years now. they're fully committed to continuing that. so i don't expect the be to change path and policy and this is already a seismic shift. so i think going to see more of the same from the c, b, they're going to carry over an ultra ultra low industry policy. and till inflation really gets up and the last step in and then the markets will suffer as a result of that. but for the time being, i don't expect any change there are in the ceo of, of, with our thank you so much. thank you and and so i'm now for a quick break, but when we come back, the u. k is still hoping for a solution with you on northern ireland freight at the post brack, the battle continued. on the other side, we'll discuss with hillary ford,

which is going to break the numbers at the close. this was a bargain that was made 2025 years ago under clinton, as a matter of fact. and they've brought china into the world trade organization, the w t o. this was the quid pro quo that we're going to essentially give america a huge break on flat screen tv. but within 2045 years, we're going to bankrupt the country and that's what's happening now. oh, new york, it's really what america is about when our mayor took our place, he was elected because of his campaign on our city,

being a tale of 2 cities. the halves and i have not, and those who have not are usually the ones who wind up being buried on holiday. the city is always wanted to forget about island city is wanted to forget about the people who are buried there. wanting to forget about the fact that there is a potter's field that there was a place where difficult stories are hidden. the fact that we're using inmates to maintain this active burial site, where 1000000 souls are buried. where so much of new york city history is buried is documents of inequality that exist in the city. for centuries, a water around the try a seal island that's in contention. between canada and the united states, northern gulf maine, i suddenly become optimal for lobster. our populations here exploded one of the

most valuable fisheries that ever existed. suddenly you had made an canadian fisherman in these waters at the same time jousting for position and tension or high violence is bound to happen. this is the last land border dispute between canada and the united states. it could be magnified to the point where there could be costs that would be significant to quote countries. border disputes don't go away. they discussed some things going to happen to what we've got to do is identify the threat that we have. it's crazy foundation, let it be an arms race. is an offense, very dramatic development. only personally and getting to resist. i don't see how that strategy will be successful, very difficult time time to sit down and talk more

when i was showing wrong. well, please just don't hold me. you have to sleep out this day because the advocate an engagement, it was the trail. when so many find themselves will depart, we choose to look for common ground this with welcome back. the u. k is still open to a compromise on issues related to post record trade in northern ireland,

according to his spokesperson for the prime minister boris johnson. when asked if britain was ready to trigger article 16, an emergency provision in the bracket deal this week, he said the quote aim still remains to reach a consensual solution on this. we are going to be continuing intensified talks between the 2 teams on friday of last week. negotiators for the e. u. touted the progress made and talks as things move forward. i actually each and welcome the changing tone of discussion with earth, david frost to day. and i hope this will lead to tangible results for the people in northern ireland. i prefer to have a joint solution with the u. k. government. but if we are to amend our own e will legislation something they are committed to do? we need to find the solution quickly. we will therefore intensify our talks next week or more. and then this left brain hillary for the board member with the

british american business association. now, hillary, obviously we've been talking about this for several weeks. it seems like we're always close to a deal. everybody's all amicable. and then they go know we're ready to trigger article 16. right. where are we for real? okay. well pleasure to be back again with you. brent. we're somewhat farther along and the e. u has conceded many of the checks and the border regulations and stipulations that they had, they've conceded something like over 80 percent of them. so that's really good. i'm particularly the ones on medicine. i think they're the free flow medicines and the non fi reasonable. it seems like the line in the sand, though, is this europe in court of justice, that the u. k. really does not want to have to defer to a part of that territory that is going to be overseen and ruled by an external court. and that i think is something that the e, u has said, you know, if the u. k, is willing to negotiate on that, you know, this is unrealistic so that they're expecting that the u. k. will, i don't think the u. k is going to negotiate further on that well and now also

bloomberg is reporting that many ambassadors from the you are actually kind of preparing what is to be said sanctions or actions against the u. k. if they do go the route of article 16, what would happen there? yes, actually they were referring to it as a matter of option. and a lot of options actually starts. 7 with things like suspending portions of that trading corporation agreement, but even escalating that all the way up to terminating trade portions from that trade and corporation agreement. and then retaliated with perhaps things like targeted tariffs. and then also another way of option is to then increase, increase the amount of border checks and each member state of the you could actually impose their individual powers on british goods. and also ending all of the, the data flow between the u and the u. k. so there's a lot of options they have on that ladder. and now you, you're right, is preparing those to go out to the member states to discuss whether they'll actually implement any of those on this lateral options. impose them on the u. k.

so if they trigger article 16, they could essentially trigger a trade war that goes on between the united kingdom and the you at this point. yeah, absolutely, but there is talk, although that could then be escalated to the w t o, the world trade organization. and that isn't such a terrible thing because then there's an independent arbitrage that comes in. and i think that's something that isn't necessarily negative for the u. k, i think we much rather have the w t o than the european court of justice. and what would that mean for boris johnson? number one, politically in the u. k. as he's kind of been over, see this all breakfast and it goes right and, and also, i mean, worldwide with his standing well, couple of things that worldwide the e u has a lot to lose in the e. u has to be careful because hungary and poland right now. a questioning some of the standards in the e u. legal system. so the e you wants to make sure that it's holding fast because it's got to demonstrate to

hold on to on hungry and poland that you can't disregard any parts of their law and jurisdiction. so they're concerned about hungary and poland. and the u. k. has to be very careful about the reputation reputational damage, particularly with the us. you know, we've seen that i should have been leaving was at the white house with biden. and so the u. k. really doesn't want to jeopardize the relationship with the u. s. so i think both sides have reputational damage from this. now, going back to the initial part of your question about boys johnson, you know, he had origin had originally said this was a well baked deal. well, it's looking not to be such a well bake deal after all, and there are too many parts that need to be negotiated. and there is a lot of, obviously the people in the u. k. very disgruntled about this because there's lack of certainty and lack of certainty certainly is hurting businesses. now the only thing is it's very difficult to separate the damage of cove it and a lot downs from the damage of the bricks. it fall out. you can't really separate the 2, but the e u is pointing to southern island and saying look,

southern island is doing better than the rest of the u. k. so they did come out better from the locked out. and obviously you just mentioned this, the ursula vendor layer was at the white house last week. and she kind of alluded to the fact that the bite and administration was essentially in the use court here when it comes to thought they kind of clarified that they were like, you know, continued support for northern ireland and economic ties is what we're looking at. so they didn't really go too far, but right. i mean, does that concern boars? johnson as well when you have the white house kind of say, hey, we back to the you with well, yes, because he's kind of being flat down by the us and the you and sort of ganging up on him. however, of course 5 and the u. s. really has to keep a foot in each camp because the u. s. doesn't want to also alienate the u. k. one of the strongest best allies that the u. s. as ever had, people can say that the special relationship is over all they want, but the u. s has always, historically depended on the u. k for military support, international support and legal support. absolutely. will hillary for which board member with the british american business association. thank you so much for

joining us. absolutely. and finally, with ongoing supply chain issues, it is becoming increasingly difficult to get your hands on one of these latest generations of video game cancelled. but you might have a chance if you're willing to spend a pretty penny. now we're not talking about hitting the over inflated retail market . that would be just too easy. instead of gucci is producing 100 limited edition, x box one series x councils. now, according to the luxury brand, the council will include custom gucci, branded x box controllers, a hard case for storing and traveling with your new device, as well as a laser cat monogram of the letters g g on the council itself, of course, that stands for gucci as well as game or speak good game. it also comes with a price tag of wait for it here, $10000.00. now, while it may seem like no one would pay that premium for a council, you can get for just $500.00. if you're able to get one new customer market has been blowing up in recent years. and of course it's so hard as we talked about with

the supply chain could straight with the semiconductor shortage. it's very hard to get your hands on. one of these news cancelled as it is and that's it for this time you can catch boom bus on demand on the portable tv app available on smartphones and tablets through google play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out app portable that tv will. the next me we're allowing ourselves to be more efficient quicker with our transactions. but with that comes a trade off. every device is a potential entry point for security attack any machine,

depending on it's an extension of traditional time. the defenders have always been one step behind the attackers. both with one comes option or not a matter of. if it happens, it's a matter of went with

oh, there is a patch of water around the try, a seal island that's in contention. between canada and the united states, northern gulf, a man has suddenly become optimal for lobster. our population here is exploded. one of the most valuable fisheries that's ever existed. suddenly you had me and canadian fishermen in these waters. at the same time jousting for position and attention are high, violence is bound to happen. this is the last land border dispute between canada and the united states. it could be magnified to the point where there could be costs that would be significant to post countries. border dispute don't go away, they just fester. something's going to happen with

him until august, the deployed by poland, as it continues to resist attempts by migrants the school and the border from burroughs. in order to reach the european union. the russian defense ministry slammed the u. s. as hypocritical off to washington and criticizes moscow for testing a weapon in space when it's done exactly the same thing. nobody likes to pay more. on average, we have the money to do so. as mainstream joyce, media outlets repeatedly claim that americans are better off on the joe biden, despite inflation having a 31 year record. citizens have their say, we have to buy food and do things like different ways. i don't think you save money . i.