recording official data, earliest friday, exports came in at $3.00 trillion dollars up 30 percent for the year. china's export growth was so good. it saw a double digit year on year increase every single month of 2021. the united states remain china's largest trading partner. as the u. s. has been transitioning further into a consumption based economy, china's export to the nation rose more than 25 percent for the year to $576000000000.00. while imports from the us grew more than 30 percent to $179000000000.00. now giving the u. s. a. nearly $400000000000.00 trade deficit with the nation. china's trade surplus with the world's number one economy has been whiting over the last 2 years after narrowing during the trump administration in 20182019 i'm. it's that trade war. so let's go ahead and take a little deeper into all of this with boom by co host script the i and john quality of the dean and the miami herbert business school. they both for being here,

didn't quote. so i want to start with you on this. what's the takeaway here from all these numbers? is this more about increased production out of china or nations elsewhere? just consuming more thanks brand, on the demand side, china has done a very commendable job. but since a start of coven of clamping down hard on outbreaks of cove, it and doing its absolute best to maintain production and it's factories and flow through its ports. and the fact of the matter is that other parts of the world did not do as good a job in that regard. and so china has been able to maintain its position as factory to the world. in fact, very little supply chain relocation has occurred from china to other countries despite political efforts in that regard. and then on the demand side brand, you had millions of people around the world, including in the us, staying at home,

instead of going out and spending money on experiences in the service sector, they were buying more goods to enjoy at home. whether those were automobiles, automobile components, electronic components, home furnishings, and all of that product as opposed to service expenditure boosted demand. and that, of course, fueled further production demand and china. absolutely, that's an excellent explanation. exactly. what's going on there? dean crossed out. christy, we've been talking about strange supply chains for nearly 2 years, and there was a lot of talk about how this whole thing with miss managed state side. but there is also the point that the port of los angeles saw a record year of for cargo, a 13 percent increase from its previous record in 2018. so it is having more products coming in from china to elsewhere. actually have something to do with the issues that we actually saw with supply chain. i mean, it certainly contributed to the congestion that the poor,

but you can't blame it entirely on increased imports. sure, an increase in imports mean more container ship with goods waiting to be loaded, but the fiasco l o ports was caused by the entire breakdown and the supply chain, which runs much deeper than just an increased demand appetite for chinese goods. so it runs the lack of infrastructure and also the georgia workers at the ports to load and load, move and ship cargo. and part of that was colbert small, as it made everyone short staff, as people called him sick. and the other was just that the us courts are outdated. the ships today are double or triple the size of the ships. the ports were used to think 1015 years ago, so they took longer to unload and you need more truck, more train, more warehouse stores to put the cargo. and that infrastructure problem cannot be solved overnight. and as i mentioned, many companies have now shifted back to chinese production to take advantage of the nation 0 cobit policies. so too many that's less disruptive than not knowing what

new policies or mandate will come down tomorrow, leaving company scrambling to adapt to the changing regulation. so china is coming out ahead in that respect, a global dependence has now shifted back to china from places like se, asia that it's still recovering from their virus outbreak and the cloud. sure. now there's also another aspect to the whole china situation, which is the china has obviously face tensions with daily recently as well. but export to the nation still rose 24.2 percent, while important serge to 40 percent with the 2 sites actually in the r sep agreement, which is the world largest trek agreement. are these tension more public facing than going to be actually economic yes, i think in this case brent economic realities trumping political posturing. and it's kind of analogous to president trump's relatively inconsequential efforts through the tariff war to reign china. trade in the latest figures clearly show

that that was not done on a sustained basis. and likewise, the australian government has been subjected to considerable risk constraints by chinese efforts to limit bali imports, etc. but those have also not had the desired result. because in december, the australian positive trade surplus fees of a china was $5000000000.00. and the fact is that china needs iron war and it needs wheat from australia. there are not other alternative convenient sources of supply for these commodities adjacent to the pacific rim. and china therefore needs these goods from australia, just as american consumers need product from china. that's a, that's a great point because that was exactly what i was going to make it the same thing. you see that exact saved that gotta be a chinese australia the same way,

the u. s. needs china and going back to that trade more that the trump administration was in the last time we saw the gap actually narrow christy was during the trump administration in 20182019. was there something to that trade where that actually worked in favor of the us or did it just mean we got less cars or life? the product? i don't know, we can definitively say that clothing this trade god worked in favor. the us in trump's overly simplistic view, he said that immense since the u. s. is importing so much, it hurts, domestic job creation and growth at home. but inherently, a trade deficit is neither good nor bad. a trade deficit can be a sign of a strong economy and under certain conditions can actually reach a stronger economic growth or death at the running country in the future. so the reason why the u. s. can incur such a massive trade deficit is because it has credit and they can borrow money from foreign lenders. and that is basically a vote of confidence that that credit is another source of long term economic

growth. and that was the case for the u. s. for several decades in the $1800.00 and south korea also for the same kind of productivity while running trade duct, that's in the 1980. so no strong trade or plus doesn't necessarily mean strong economic growth because japan, for example, has run a significant trade surplus for most of the past decade. yet its economy has been stuck in a very low year for most of that time. germany as well runs a very strong trade surplus, but they only register mediocre growth. so the current situation is actually kind of funny because in the short term, trump close the trade gap a little bit. whether that's a good or bad thing that's subject to debates. but in the long term that he made, that trade got wider than ever because now as a result of trump, policies and strengths of the us dollar, the stronger dollar means that us products are less competitive. and foreign goods are cheaper. so whether it's from china or elsewhere, the u. s. is on pace for record and import,

while exports will continue to decline on a global stage and digital quality i have about 30 seconds. let me give you the final word here. well, chris sees analysis is absolutely right and the among metrics with economic health of nations trade deficit all surplus is not that significant an indicator. but i would say that president trump's efforts right or wrong from an economic point of view did magnify and bring into the forefront of political discourse. the competitive challenge from china. and that was a wake up call to many people in the united states who hadn't heard it before. so there are longer lasting ramifications from the trade war. ringback beyond the economic impact, absolutely, boom bus. kristi i and dean john clouds. thank you both for your time. thank you. and global markets are mix for the week of the future. federal reserve policy

continues to remain in focuses. investors continue to keep an eye on the state of inflation, which is still running rampant in the world's largest economy. we start in russia where the mo, x is down for the week, 54 and a half percent stocks in the index to hit on thursday afternoon go shooters said there was no reason to renew talks with the us and nato after a summit in geneva earlier this week, friday wasn't any better as the nation's largest lenders. burbank fell more than 8 percent at one point on friday, leading to a sell off that saw the mo, excludes another one and a half percent. it's moved to asian markets where the shanghai composite is down falling, just shy of one and a half percent. the index fell nearly one percent on friday despite that positive data regarding its trade surplus hitting a new record high. meanwhile, we also saw chinese producer prices in december slow along with consumer prices in the nation. also reports indicate china will release oil from its national strategic oil reserve around the 1st of february. and hong kong we have a green arrow for the hung sign. earlier in the week,

chinese property developers soon next side shares far more than 20 percent after now it's a plan to subordinate 52000000 new shares while getting hong kong plummeted nearly 60 percent after the firms that would not be able to meet a series of obligations, but it was a tech stack rally on wednesday that held up the index with big names like $10000.00 alibaba thing, significant games. we have a red arrow for the ne k in japan following that tech search on wednesday, the new k gain nearly 2 percent for the day on the back of investor soft back. but the run was short lived as the new k closed out the week. losing those gains in car companies in japan fell along with tech heavyweight sony. moving to india. the syntax is up this week by more than one and a half percent in text back helped to keep the same sex day in the read for the week or in the green. that is to say for the week the un issued a report this week. it expects the indian economy to grow by 6 and a half percent this year off the pace of the estimates of 8.4 percent in 2021. but

there are concerns that a 3rd wave of cope it in the nation could flow that growth in australia, the assets is down, but by just under one percent, moving into negative territory on friday as the banking sector really took a hit, their tax tax also fell as investors moved in line with the nasdaq here in the united states and rise in cases of the crime variance in the nation are raising concerns of that flowing economic recovery. and that's the thing we see pretty much everywhere. and the all share in south africa. it's up for the week. the index did see significant gains throughout the week, but fell into friday as we've talked about it with a shop a few weeks for the all shares. investors continue to watch moves by the federal reserve. the world beg, has forecast. the south african economy will grow by 2 point one percent this year, reverting back to prepare derek levels. now let's go ahead and move to europe and be america starting in london in the foot. the it's up by just over one percent on

thursday. the puts the $100.00 close at nearly 2 year highs as financial stock lead the gain, but it did take some losses during fridays trading the world. the 5th largest economy grew by point 9 percent in november, taking a g d b g d p. that is to say, back to pre pandemic levels. the french khaki german deck, they're both down for the week. data shows. europe's largest economy in germany grew by 2.7 percent for 2021 after falling 4.6 percent and 2020. 1 thing that was pointed out here is that that ongoing semiconductor shorted, it's really taking a toll on the auto industry in germany. grants registered a new record of daily cobit 19 and factions this week. but that actually doesn't seem to be having a huge impact on the country's economic recovery as it remains resilient. let's move across the atlantic to brazil where the evo best but it's up for the week 5 more than 3 percent. retail sales in brazil were up in november just over a half a percent. again, a sharp spike in cases of cobra in the nation are putting heavy pressure on the

health care system and analysts war and that it could weigh on brazil's recovery, moving north to mexico. we have another green arrow for the b, m. b, strong commodity prices are propping up the market despite concerns about economic growth. in fact, bank of america on tuesday cut g d p forecast for 2022 from 2 boy, 5 percent to 1.5 percent over week domestic economic activity. here in the united states, the 3 major indices in the tao, the s and p 500 and tech heavy nasdaq, they're all down bags took a hit at the nation's number one, financial institution, j. p. morgan chase bank reported earnings exceeding estimates, but warned that there could miss key profit targets in the next few years, and they sent the entire sector down. now, as we've mentioned throughout the week, investors are concerned about the future of monetary policy in the u. s. as we see inflation search to nearly for decade, hiv friday was a rough day finish the things out in canada. the toronto stock exchange is up by

more than one percent. again, high commodities, propped up the market as a whole, but a little volatility cause things to drop on thursday. something keep an eye on here . economists are warning that candidates, heavy push towards green energy could make inflation even worse in the nation. and moving into next week, we're going to continue to keep an eye on the state of supply chains. those rising crisis talk so much about and any indication we may be getting from the federal reserve on the future of it's easy monetary policy and time. now for a quick greg, but when we come back, bitcoin advocate, jack dorothy is waiting further into the crypto current detector. as this firm is set to step into the world of mine and over you, all the light at that as are going to break here. the numbers that ah,

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there's things we dared to ask oh you're welcome back block. dag theo jack dorothy continues to forge ahead into the world of crypto currency saying in a tweet on thursday that the printer firm is building an open bitcoin mining system block. formerly square is looking to continue to expand beyond its payments business and into new technologies like block chain. back in october, dorsey claimed that the company was looking into building a big coin mining system based on customs silicon, an open source for individuals and businesses worldwide. security is now to discuss

our boom, s t o l and crypto analyst that it's been swan. and david to will. he is the ceo of pro chain capital. david, i want to start with you on this. what would an open bitcoin mining system actually mean for the entire sector? what it means for the sector? well, let's 1st unpack what it is, which is i think jack dorsey wants to make that coin mining like the p. c. anyone can go ahead by mining greg, plug it in and go ahead and become a minor. jack dorsey's vision is decentralization, decentralization, decentralization. he does not. he's had a, an outright tiff with with and recent har, which with some other players in the sector regarding defy. he wants bitcoin to be the crypto currency of choice to control all of what is going to happen with

respect to financial instruments going forward, being digitize, what it means for this sector. couple things. first of all, i think be coined mining will become much more prolific. there will be a lot more of it and that will go ahead and take some power away from the biggest players. because if there are a lot of fragmented players, that would be certainly together on an aggregate basis. they go ahead and have more computing power than the biggest out there. and i think that that's great for decentralization if that is the goal. the 2nd thing is probably the power and therefore the environmental effect backlash, that is going to happen from this. if the hash rate, if the computing power is now going to go sky, because jack dorsey is going to put a mining operation in every single outlet. there is in the country,

there is going to be an incredible demand for power. and i think the dorsey is probably now going to put himself front and center when the, when the con, the congressional energy committee meets next week to discuss issues relating to power usage and the crypto currency industry. that's why i thought of that interesting. because when you read kind of the comments from the black team that's actually working on this, they made, made several different points. and obviously, you know, we talk about bitcoin mining companies where you get even a little bit more of that in the segment. but the fact is, is when you're starting a company, just because you believe in the technology, you've got a small when somebody like block who was formerly square, you are huge and could actually put the money behind it. also something that's interesting about putting that computer in every home. they mentioned the idea, you know, we want it to be quieter, which also to your point david might mean that they're actually going for maybe a little less power in those rigs. and so if they can, why and out that the centralization put a reagan each how him it usually badly makes the network better. but maybe it

doesn't take the toll that we would see. like you said, maybe it's like everybody who has a pc going on. but i went ahead on another bitcoin related story on this though, because it has continued to drop to $40000.00 planning, placing it close to what is known as the ominous sounding death cross. what does that mean in your opinion? yeah, we'll talk about that if i can just say one quick thing about the mining by the way, this is already being done in other homes by the way, with other crypto currencies like hex. so there's already mining rigs of people are using, but bitcoin would be the 1st to do this will be interesting to see how that plays out on the big coin issue of the death cross yet look, this is something that gets talked about every single time. big coin starts to come down basically the 50 day, moving average drops below the 200 day moving average. it creates a cross symbol. and basically the idea is once you hit that, then you're going to plunge. and so there's a lot of talk, the big coin may drop, 30000 or even down all the way down to 20000. listen, it absolutely might happen. i don't think it'll necessarily happen because of the so called death cross,

but it certainly might happen. a lot of what's been discuss right now was the idea that you got to get some kind of footing at around 45000. the bottom line is based upon what was just said, right, a, just a minute ago in this conversation should tell you that even if today or tomorrow, bit coins value perceived value, i should say drops. because if it's price, that doesn't mean the big coin is, you know, in the cross hairs of a death cross or is dying, right? in fact, it's quite the alternative to that big coin is continuing to lead the way as well as other crypto currencies into a completely new financial future. and that's not going to change just because at the moment some of those institutional investors have pullback. absolutely. by now, david, i want to go back to mining because crypto miners that are said to go public soon are likely to face a tough few months following this recent drop off in price and the broader and amid the broader cra crypto market. now, is there an appetite for public offerings for crypto mining at this current time, or would it be best for some of these companies this hold off?

i think it's better to hold off. i mean, i think the drop in price 1st of all, certainly discourages new entrants into the field. the crypto miners that are public have seen challenges to their share price, certainly through december and now january. i think that this is part of a broader conversation bread when it comes to investment and technology companies and their stocks, which have not done well and that to knock on from what's going on with the said. and so i do think that we're going to see some footing, you know, reached soon. i don't think, you know, frankly, the coin has not ruined in the latter part of this week as much as the nasdaq has. so i think that big point is, is, is holding up right now, and i think some of those private minors should go ahead further develop their business, acquired more riggs continue to raise their computing power and then eventually go public. and by the way, just one last point, we're seeing

a lot of innovation when it comes to big coin mining in terms of how to power those rigs we approaching are investing in companies that have existing power contracts that are very low. we're also invested in company that uses otherwise, flared natural gas to go ahead and pop powered their rigs. nobody could take issue with that. that's otherwise natural gas. that's good to go ahead and get flared and burn off and not used for anything productive. so there is folks that are doing that as well, and certainly there are those that are using alternative forms of energy, renewables. and so no one with environmental concern can go ahead and knock that either. absolutely. let's not forget, volcano powered bitcoin in el salvador, eventually. boom, box, bon swan and david towel approaching capital. thank you both for your time. thank you. and finally, it's no surprise that social media influences have been raking in big box in recent

years. and as tick tock has become incredibly popular, its top influencer brought in more than some of america's top business executive. according to a forbes report, charlie de emilio who started posting videos of herself dancing on the social media app in 2019 made 17500000 dollars last year. the average pay for c, e o. s p 500 companies and was about 13400000 dollars in 2020, according to analysis from the wall street journal. in fact, the top tick tock star made more than the ceos of exxon mobil, starbucks, delta and mcdonald. those are some pretty big names there. the next highest earner was charlie sister, dixie at $10000000.00. with addison re at $8500000.00 earnings from the top tick tock. celebrities even grew by 200 percent from the year earlier. and with all of their business dealings, movies, commercials, and all that. you can expect that the balloon in the years to come. and that's it

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