go to try to hold it. so cold partners and follow us together, even among the nato. that's all for now. here to check out our t dot com for all the latest breaking news and updates. we'll see right back here at the top of the hour. ah ah mm mm mm. welcome to was a part. everything is true until it's false. that's the basic trajectory of scientific and social development playing out so dramatically in the world today.

the american or western dream of prosperity based on excessive consumption and artificial assets is quickly losing its shine. but what is coming to replace it? well, to discuss that, i'm now joined by oscar pitcher, a proven economist and senior researcher at the institute of economic research at the national economists, university of mexico professional growth, which is great to talk to you. thank you very much for your time. thank you for the the station. now you began questioning the conventional framework for understanding international economy a long time ago. but i wonder if the last 5 years starting with the convent condemning and culminating in the recent changes triggered by the ukranian crisis. i wonder if they have surprised you in any way in terms of how things played out. no, this was, this was what i thought was going to happen. now you read moran black lab mix. i think that when we speak over meant that girl,

what did you say show we are saying something that is very clear, that is the west is protecting it. industries. the east language lead by china is are promoting through trade and promoting it's technology. so what you have now is her world split into and it is clearly more deeply is split into with this new emergency that backs china as other replacement of a plaque for me to go out of the packet with only gung, it said the ducks with near women begin, so there ravia out in town. and thou the conversations of china now with her, you grey o 2 total finished the war. so i, i have the brochure that yes, we are shabby aguirre merging into a new world where it is excellent. chinese economic might,

that is giving the world to stability. it is chinese economic might. that is gearing here foreign exchange market, but been a, b, and b, how developed. i'm an international financial architecture that now has something to rational currency or the you own as a commodities market engine that has a payment system and it is a parallel architecture for the western one. now professor said, let me stop you here before we go any further, let me ask you this question and i understand that it's an enormous one. but still, why do you think such a strong, powerful, and fortunate economic system as the american one hasn't found the way of sustaining itself sustainably,

without excesses and without its current need to suppress the development of others? no, not the economic leadership and economic quality again, money, political germany is not something permanent. it comes and goes a last century 2 centuries. in this case it has. lastly, it has lasted after world war 2. so around a year, 2000 part of it has to do with i have an impression. there are problems inside the states made this thing, no guns and the killings of children. this thing having the record number with me or call me and them it. and after right now, what happened with tucker carson, because he thought he was lying on the newest, consistently,

when they are supposed to be the example of truth. so what happened here is, of the truth. a parody is no longer than an apparently our defending the truce for me or whatever that is. it gave them. that's what's the last thing, the road. nobody billings very much in what the terrace that is coming out to washington's. now speaking about this truth coming out of washington, you just mentioned that economic theory presupposes that the centers of can make my shifting, you know, nothing is permanent. and there are many economists in the united states. so i assume they are familiar with that theory as well. why do you think the americans are so stubborn in trying to preserve that had gemini, both in economic and political terms, while all the signs that are that it is slipping away? why are they instead trying to create the most beneficial,

transitory conditions for themselves? one is nobody likes to do that's clear in the british loss because he had a war essentially they won the war but lost the empire. the u. s. net. last it's imperial power. yeah. that it is. wing, imperial power is raining and you read you read different arctic. also, there are some journals and it's clear that her they are aware that their powers lee, but they don't want to lose it. but what is also clear is a, there is a lack of understanding on what's going on. i room charge her missus, yellows are remarks yellow day ah, on the international economy in china. and i was a bit surprised to see that she thinks the us as

a dynamic conduct when or all of us, it is clear that they are walking into recession and that they are finding on from the u. s. dollar as the instrument of global control. but that is being put into question by others. so i think i think there's a lack of low please. dick, i think they're losing what has been their stroke voice, which will certainly pick and what appears to be showing up now is so again, this policies that are far removed from reality and they, i fear, oh, back now i even written before that the united states has declared a cold war against china and a cold war is such a broad metaphor. what do you understand as the mean and means and the goals of that war and can it be decisively won by either of the sides? no, no, that's a, that's a no win situation. and the,

the reason is the technological competition, the u. s. is in fast lost. it's her technological leg. and that the president of intent sent something back 10 years ago that they should not quit producing ships. and he said it, but the decision was let's quit, let's make chicks in china for us. it's the software that matters. and what happened was that her nice face, this learn very pretty how to produce what they built to produce. and they said it's faster and better. and that's the problem because the funny part is that the sign comes from the us or lacking comes from kalia. they were barking together very well until the us said, wait a minute. they are with their, we are definitely this war start and they have the will, nobody,

nobody can we because they have to work together whatever. now, if i understand your idea correctly, you believe that the idea that a globalization is over a doesn't reflect that true global reality. and it may be over for the united states because it's up to you know, for instance substitution closes. but for china and other asian power houses it's, it's continuing, they are pursuing it eagerly. i wonder in the flavor if the character, if the means of the east latter globalization are any in any way different from the ones we observed. as led by the west. i am studying better at the moment i went, i went to write on the a larger book or something because the fact that the sation meetings, the protection and the one side or the other side, what do you have is an expansion?

i think spanish and mystery trade rules impulse basin and they have entered africa in a very significant way. they have entered africa in their work, in the energy peel, both fossil fuel, renewable energy, an army they are, they have helped. according to the voice of america, we book, they can help with the debt she to asian of the african countries in so they seem to be was going to give the chambers of the sanctions on the lang. and then they called us out on long island estrella and nothing much appeared show up and i and they believed they had me cornered those hunters. they knew nothing there. stand that maybe there was somebody someplace that was

going to say, look, i have a currency. i have a central bag and i can invent a payment system that the, the knock i did not see when, when raj invent that it's payment since the burger will ever. many countries blow conscious and they did that to that man. also, they could not imagine that chinese were going to do the same, nor the speed with which the change. so don't deliberately you look at what's happened with china is with it's international in at architecture. they've constructed a complete 187 years that you go so i mean, the west took 50 years. i have to tell you, professor of our attention that we have, we can take no more delays. we have to take a very short break right now. just like the chinese, but we will be back in just a few moments. stay tuned. ah, mm. mm

hm. now look forward to talking to you. oh, that technology should work for people. a robot must obey the orders given by human beings, except where such order that conflict with the 1st law show your identification. we should be very careful about artificial intelligence at the point obviously is to place trust or rather than fear, like take on various job with artificial intelligence. real summoning with a robot must protect its own existence with the term strategic autonomy. sounds good. the word strategic conjures up

a sense of importance and autonomy presents a sense of independence. but when you consider the french president using this term, then we are forced to wonder if he is a serious person after all, europe is no longer a strategic or economist ah ah ah, ah

welcome back to well, the 4th with oscar toucher peruvian economist and senior researcher at the institute of economic research at the national autonomy, university of mexico. professor gar fishing, just before the break you, you mentioned the speed at which the chinese have been for building their financial infrastructure. you also mentioned before the, they seem to be building a parallel commodities market and that would be operating in yawn. and that is serving gas, oil, grains, metals, et cetera. how much more china has to do to become truly immune to western prussia and perhaps have been offered that immunity to those was sick it that her bruce baker now will offer you today due to western brushes,

while they can further is carrying a very large shipping peach and what they can also do is and broaden their international insurance firms. i was kind of very quick we, they found the bar 5 largest banks in the world so they can do the same thing with insurance. and with that they, her are complete, international commercial. you also mentioned that our efforts in consolidating these and high oil market and the length to which they went in, ah, discussing this issue with her middle eastern powers, some of which are still putative american allies. i understand why the chinese would be doing that by one do thing is the arab interest. what is the interest of saudi arabia? enjoining our hands with a china us openly. well, we have several in the movies with there are several programs. the 1st one was here,

we also were happy with our clue us no neat to do work. well the 2nd things we have all seen the, our experience. i wear glasses and and so i think for the middle of the circumference, they are taking their association with a us with a pinch of so they were promised something with either invasion and with europe sleep and was come out. there's something stable that is. so there we have a major issue, the 2nd major issue, the u. s. s. and that lies. so the failure i think will the right recently own you with this thing of the car, shogi murder in turkey. and then after that then it said well, but we need you to raise your price. and so garrison. oh yes. and you haven't been

nicely allenwood. eliza. okay. were you no longer for that month and the 2nd for the bigger supposed to receive. the 2nd thing is, are the homes and mistakes with the that they have pushed, you know, they have agreed with it out. they got broken their deals with it on and the u. s. has shown us the world. it does not have a stable policy. the policies change with a put it with her and they agree they wish this nuclear agreement, they broke the agreement. they thought further, oh, ah retaliation some then thought was the end bulls it on an solar radio for one reason or the other. were laurie clang to her an agreement brokered by china though the sin agreement brokerage bug in your us. and that's

what happened and china got until a lifeline, a loyal from both conduce then it has it's low line lube oil and russia an e classic lab minute ago from celia. so it's pretty much, it was pretty much a month in terms of oil supply and having built our commodities market in shanghai where they were stinking. and i might be, whoa, is it maybe the chinese so by it began to refine oil and extort we fido? in which case it would become the competition of the us? cause meaning, export good is vital. so that's what it looks like. i don't know sometimes. well, why should they stop at dealing with ro, materials? now, you mentioned the technological ad that china has developed and how the americans

were not able to foresee it. and i don't know if you would agree with me. maybe i'm bias here, but i think the besides that used to come out of the united states technological science was not necessarily purely american. i'm in for, for many take as the united states attracted the, the global, technological talent with the promise of the american dream. with money, with values with prestige, what have you do you think china has something similar to. busy for or perhaps even to talk them merican offered my impression is that so far? it is shy, needs and scientists doings whether over the probably weighs yes. technician of the european economy. it is possible that you will get your opinions value to china to work and what we are now seeing are

middle sturdy in the area and back is denise diabetes work in the us and they can work anywhere. so oh, i think that's a matter of fact. now, let's talk about how these giants and by that i mean the united states and china position themselves. because if we just just oppose their official slogans of what washington and beijing offered to the world. the former talks about itself as a shining city on the hill, whereas the latter refers to humanity as a community of common destiny. and i think it has a very telling difference of focus me versus we. and i wonder if you think that the china can truly stay true to this plan of common destiny, to refrain from using its increasing power too much and too much to its own advantage. i'm not sure if it will mature into that then

so far what they appear to be doing is securing its pluses and that is secure where the state should and it's me and i anybody to organize the world around so far, though, if that's going to mature for a while we maybe it's a matter of time, i don't know. or maybe it's a matter of i don't know that that will be made to be seen, but what's inevitable? either the shift is happening. we cannot deny that there is a ship going on. and that we might not share a few things of the chinese, but we don't share a few things on the american site. so maybe that's the way the world these make. you know, i'm very good at that for learning and analyzing other countries history because i

know that they were very good students of the soviet system. and they managed to take some of the good things that even the soviets have not been able to use to the best way possible. so perhaps the chinese could learn the american history as well as the abuses of the american economic system and political system for their own advantage. because after all, and so when, when the true, when, when that can make the system sustainable. and, you know, amicable to anyone in the world for the facts, china to happen when they start to become blogs, user friendly till the global. so they build a must become user friendly so everybody must see them. now natalie is a main trading partner. not only is the main lender, not only the big g, a logical changed, but they must see them as a friend. and so far i feel the pressure, they are rather more seen

a stark nurse than the suppressed that, that at that shipped. but a matter of maturity, can i also ask you a couple of questions about the american system which used to be a global dream? and as we discussed, it's in a deep crisis, not only internationally, but also domestically. when we look at the level of public dot, the state of infrastructure, social welfare, the level of crime, the level of addictions, what would it take if not, reform done at least to bring it to some sort of self sufficiency and balanced level? well, there are a couple of things. first, i finger economy cannot ronnie on an external deficit. 6 percent of gdp continuous. that's wanting. and secondly,

they need to produce more. yes. they need to produce more. they need to trade more . but that means racing the levels of reliability richness or better reducing the ent, priceless of their goods. it was 11 to buy an apple telephone that it costs twice. when the chinese cell phone cost will clearly run to buy a chinese. so they need to look better what they are producing under cost, what the producing and look better, how they're going to we buy once their economy is still to net complete gap and the cost to the rest of the world so that it is out of balance is that we are on adjusting so we can growling international reserves to buy the treasury bonds, to finance of deficit,

which is ridiculous. we should be glowing, more and world growth should be more balanced. and right now we are very, very biased. any bias we should, we should have a more equitable welders. yes, absolutely. and i think is biased not only to the rest of the world, but also to many americans. i'm sure you have many american acquaintances, and i think many americans don't feel that our system is treating them them fairly . now, given that we are entering the next presidential season right now, do you see any real potential in the system actually reforming and solve given the candidates that have put the, put the personalities on stage so far? and do you see any understanding of what things really are within the american

economy? well, the democrats believe they have a very dynamic economy. and that's the way they look at the world that and if they think that china is an enter competitor, they have a serious phone. so and that has not changed. i don't think, i think that was the ellen's point the other day. and that was like out it's point in her talk and the counselor were relations. so no, i don't see get any change. a nice change. jumps, isolationism won't leave them anywhere. it has never let them anywhere so far. but yeah. so she trump is responsible for the largest growth in us that in history. well, the democrats also not far behind, but as you said before, you know, the rest of the world has to mind its own business. and it seems that for the 1st

time in many decades, we have alternatives of how to leave and leave, and hopefully that will remain is professor garcia. she has been great pleasure and great honor for me to talk to you. thank you very much for that. or jim gilbert and thank you for watching hope to see her again on the world's apart. ah, with me for a civilians are killed and to others,

wound it in overnight showing by ukrainian forces of russian border region. that's according to local officials. also ahead in the stories that shape the week we are at the construction site, the 50th person, the nuclear power plant. you had a mrs. multi $1000000000.00 joint wonder between and to right most turkey is 1st nuclear power plant is officially inaugurated. it's being built with russia and help with the leaders of the 2 countries taking part in the special ceremony and caching in on its global dominance. asians, riches banker claims the u. s. dollar wields too much power and is often used by washington.