[000:00:30;00] hello on the air international review in the studio of fyodor lukyanov today in the program international review events of the week of chronicles facts comments in 15 years of the collapse of lehman brothers the lessons of the 2008 crisis the consequences are still noticeable the results of

the g-20 summit the global south raises the stakes materials of our program. against honey , the responsibility of the inventor is a premise of ethical discussions of the last century. the most fashionable cereal of this year for the same asphalt two-room apartments, i will explain. it's just unrefined millet. we mostly have it is proposed here for bird feed, but in vain , by decision of the un general assembly, 2023 was declared the year of millet. as an extremely nutritious and healthy product , the indian government lobbied for it, mainly and treated the participants of the group of 20 summit in new delhi with cable leaf chips with a scoop of yogurt and spicy sauce a kettle

of jackfruit biscuits with wild mushrooms, pieces of millet, red rice and curry leaves. well , pudding and demand with the aroma of cardamom for dessert. that’s it, i don’t continue to work yet. is it any wonder that the results exceeded expectations india has something to congratulate. many assumed the possibility of failure of the meeting, non-acceptance of the final document, skeptics, salted indian diplomacy worked flawlessly, it is important that they found a consensus on the ukrainian issue, but perhaps more significantly, that the nature of the twenty is changing in new delhi , the twenty began a transformation from an organization in the center of which the seven structure, oriented to the needs and teapot of the global south, the global south, not happy with the situation when the seven monopolize the agenda and make it the core of the conflict similar to ukrainian. he is important, but he cannot be at the center of everything india has led a fundamental transition in international

relations and has effectively asserted itself as the leader of the global south. india is now on the rise, everyone needs it, and its emphasized equal distance position is the most advantageous and correct. india well understands the sensitivity of the ukrainian topic for russia and india, despite the pressure, firmly adhered to the line that the isolation of russia is unacceptable. it is the merit of both india and russia that at such a difficult moment and at a very important international event, we are really on the same side quite well, but we will once again emphasize the fundamental point of changing the content for the future, unless, of course, brazil and south africa, the next chairmen, are able to develop the seven that has been achieved. the west at the summit in new delhi realized the situation was different and did not interfere with the achievement of contentus. and they understand that they need to change their approaches for

the future to take into account the interests of developing countries. on all development issues, the center of gravity in the twenty is radically. moved if consensus was not reached, the twenty, in fact, would have broken up into the seven and brix, but india was able to build bridges. german cartoonist fachta of arab origin crisis no, i haven’t heard the successes of the twenty in the development of the world economy, burkhart, morr. another artist from germany , a drawing called a commercial agreement with a question mark, the world is divided on one side , seven, on the other, brix, the common table is broken. paris over view from pakistan a man who looks like the indian leader is trying to balance on the ropes. it's written on them climate, ukrainian crisis, food security. all the characters are quite recognizable

swiss. ramses comes from far away from the island of trinidad and the tabago figure is called the asian confrontation of heroes. you don’t even have to imagine everything so transparently yesin halleluy to syria against the backdrop of the admission of the african union into the group of 20 on the table written you in africa the image is clear without words. the current twenty is significant for many reasons, one of them is the semicircular anniversary of the event, which turned the group of twenty into a full-fledged truck 15 years ago, lehman brothers bank , one of the largest and most important financial institutions in the united states, went bankrupt after the global financial crisis of 2008 broke out.

the financial crash of 2008 paved the way for the so-called great recession, a crisis in the world economy from which different countries emerged at different times. and the consequences are still felt today. it all started with the mortgage crisis in the united states; housing prices rose until 2006, but then began to fall to at this point , financiers have already come up with virtual financial instruments. for them assets of the real sector of the economy were used. for example, you can mix bad and good mortgage loans and combine those into one security, which is secured by their debt obligations. sometimes also called synthetic sidium. and they may not even be due to mortgage loans , but the risks associated with them. such assets were bought by investment banks, sometimes mixed with other debts and sold by a pension fund, but due to the overheating of the real estate market, their quality. and it fell, while the owner promised payments higher than those most corporate bonds as

a result by the spring of 2007. they turned into a toxic product of the pyramid. on september 15, 2008 , one of the largest investment banks in the united states, lehman brothers, announced its bankruptcy , followed by other american transnational banks, meryl, in a critical situation. lynch goldman sachs, morgan stanley and leading mortgage companies fanny mae and freddie merk. the debts of the last two were bought out by the us government ; the failed banks were partially absorbed by bangkok of america. when the term appeared, which is attributed to the economist haymon minske as a tubik tufell, in essence he states that these financial institutions are so significant that their collapse means the collapse of the entire economy, so this cannot be allowed at all. the entire world economy

was severely impacted by the united states. for the first time since the second world war, gdp showed negative dynamics , trade decreased, and the middle class suffered the most from this, according to credit suiz bank estimates, its share in world wealth has decreased and continues to fall, but for the rich. it is only 1% of the earth's population that owns half of all material wealth in the world and their share is only growing. the first meeting of the twenty at the highest level took place shortly in the fall of 2008 in washington, the goal was to calm down everyone was too scared, a joke, or the economy on which the whole world depends was under threat , the panic was extinguished, however, many believe that the consequences of the crisis have not been eliminated to this day. they were simply stopped for a long time, but 2008 drew a line under the global order, the heyday of which came finally at the beginning of this century, and the anniversary

let's talk to yakov sergienko, head of the consulting company yakov and partners. jacob, in your opinion , sufficient lessons have been learned from the crisis of the eighth year; of course, it had a significant impact on the american economy in the first place, and then on the global economy due to the undoubtedly significant role of the american economy in the global national economy. there are estimates from the federal bank that single-digit losses amounted to 7% of us output and for this farm there was an estimated loss of $70,000 in total. that is, it’s like an almost instantaneous above is like this. this is a figure that has disappeared from household incomes and economies. at the same time, it is obvious that the regulator made significant conclusions and significantly adjusted the management model of the financial system. risk assessments, stress testing. and in general. we can say that the american

economy and finance is a fairly large set of financial systems. overall it has become more. reliable because, of course, the weak part was not preserved, which was actually shown by the recent crisis of three silicone or sikwich banks. the first regulation was under trump, certain, which reduced the pressure to regulate and for this reason , including the bank being below the control level of 250 billion for shares of these drugs, so the regulator worked less strictly on them than on the second largest us bank approval, and a whole year before this, the regulator noted problem areas from the point of view of risk management and at the same time reacts to everything, it did not happen and it is clear that for this i am now a subject for discussion. what happened and what are the conclusions? needs to be done, but in general, uh, the case of these three cans, but rather reflects that at

the system level the issue was resolved, but at the level of specific participants in the system, questions remain. march 13, 2023 became a black monday for the american banking system, the extremely rapid bankruptcy of three us banks at once , silicon welling forces vertgate and signu chabk with active assets exceeding $300 billion , was a complete surprise, moreover , svb bank was consistently among the top twenty banks in america; its clients were companies and high-tech specialists for silicon valley startups, believing that federal reserve rates would be stable. svb, invested heavily in securities, long-term treasuries and mortgage bonds in december of last year . these securities accounted for more than half of all assets; compared to bank of america, this figure was less than thirty

percent against the backdrop of record inflation for 40 years. efrs has already begun to become. monetary policy since march last year increased several times. because of this, the value of the bond began to fall sharply, in order to save the situation, svb announced the sale of the state book. on march 8, after the announcement of this news, svb clients began to withdraw funds from their accounts en masse; the next day, the bank announced a loss of almost $ 2 billion; shares collapsed by 60%, and the largest venture investment funds recommended withdrawing money from the bank. as a result, on march 10, the silicon valley bank declared bankruptcy and collapsed. st. bisa fell with the news of the voluntary liquidation of forces spins another california bank that worked in cryptocurrency and collaborated with the crypto exchanges baynos ucs and coinbase, but literally a day later, on march 15

, the shares of the second largest swiss bank collapsed by more than 20% on the swiss stock exchange. credit suiz is noteworthy that its main shareholder, the national bank of saudi arabia and audi national bank, refused to buy back the priceless paper. on the same day , trading in shares of the french sessiete general and the italian unicredit was suspended ; after the close of trading it became known that the swiss authorities are ready to provide liquidity to the bank, exactly what the us did to save other large american banks. in the eighth year, everyone seemed to agree that the future governance of the world. this is a condominium in the usa, a so-called chinese family, and then they stopped talking about it. well, now it’s a strategic confrontation, if we are now observing this reflection, of course, of the process of development

of the world system after the cold war and , to some extent, it became an instrument of the us victory in the cold war to be pragmatic it obviously helped the economic conditions that arose after leaving, as it allowed to reduce the social burden on the american economy, making it a big maneuver for capital, but at the same time, of course, there were quite a lot of advantages in this model in china. but now these advantages require additions. let's say the chinese five year plan is the last thirteenth 14th. they very clearly emphasize the transition to new principles of growth, which should not just be export-oriented. well, there should be significantly more high-tech growth degree of independence of foreign players. and this means that the next step will actually take place , the third step of finalization, as we said, yes, there is a transition to more financial capitalism in china and that means

cost. uh, what china creates will result in a completely different assessment. this is a novel in which i used to compete. well, how would the us monopoly and the us human company actually consider itself. this is the main moment of competition now, it should be noted that you imagine the twentieth year, a large number of financial institutions. father's goal with uh, many funds, on the contrary, took a very tough look at their positions in china, including over the course of management they began to make an operating model of china for china's sake, which the surname reflects the strict confidence that in this phase of nutrition it will begin quite aggressively. develop sectors that historically were zones of additional competition of the usa usa , china used to deal with some non- technological goods. now everything has changed, china says, we need everything that, in principle, naturally, taking into account the internal political situation. china, uh, cdb came as the leader of the country primarily in order to ensure internal

political harmony in the country in the first place. yes, this is the newest phase of all. remember when in 1978 she spoke about two principles, when they listened to you, the ruler must develop first. it may even be with me that there is a lag in the development of the western provinces, the coastal zone, just in the phase of development, just the first wave in relation to the united states of china, then there was a statement that born in the ninth year said that the 21st century is a strategic task for the development of western governments. and at this point , the gap in regional incomes should be three times between the eastern and western regions of the province, and in fact, over the next 20 years, we are now seeing this systematic movement toward leveling out. it has regional diversity in china, including the chinese initiative , which is one way, which is now so exciting for many uh international observers and is perceived by many in the united states as a competitive task and a very big blow to us hegemony is in fact the task and development of the western

province of china, primarily in order to provide markets for them in the context of traditionally products from these regions were capable of products, just central asia average ideal fit, well, there is a point of view that the crisis of the eighth years showed the vulnerability of capitalism, in general in its modern form. if so, how will the model change? here, uh, through the prism of a long horizon. and if you look at it, it’s almost like a form of capitalism. such a liberal model is a little governmental, let’s say so, yes, and at the same time, with everything, and each of these models. in the limit there is certainly a limitation with economics. it was a model. and who started the movement. eh, just liberal specialists step first. we are now seeing the consequences for american economic social stability. yes , we see that during the president’s speech he was on full display. he said we were 74 years old in the middle of this year. so this, in principle, is not much different even from life

men in america are 2 years apart. if you think about the last time this happened. this was in the seventies. this is in fact america during this period of time, rather in relation to the social context did not increase, that is, the life expectancy of the social health care structure. look, many things were missed, but on the other hand , the prerequisites were created for ross’s capital to invest in global technology. this is an obvious plus combined with a minus: justice has gone there. at the same time everyone, the feeling of growth and well-being in the middle class, which arose in the first stages of development, also began to disappear, and we see this as a question quite recently, your questions, which von soros tried to organize around the world, and that young people are disappointed in defending their degrees in liberal values. well, not the majority yet, but already the significance is 48. i correctly remember the percentage of young people around the world. this is significant, especially hydroair

for liberal economic countries. now if you look at the chinese model. she, of course, it combines significantly more, but fast-moving components and a large number of proactive movements on the part of the state by balancing interests, but again traditional criticism. such a model is that managers actually become the main decision makers, a rather condensed form of control. they are of such a narrow group nature and, as a consequence, too. oh, this is a loss, but there is a feeling of justice among the people and a set of problems arises at the point from the point of view of efficiency in this sense, here i am too again, i think, e clawshup put forward the theory of bayonet capitalism at one time. i remember myself there, it’s not just ten years ago. if you look at it, this is practically a hypothesis of how the models might converge for you, how it might happen. so more than one target group, either

here or shareholders, will become significant for the business, and we partially see this in those decisions and events driving the agenda. green economy. e organizer of different groups. this part of the prototypes may be somewhat distorted, but also the statements that are there began in the word capitalism. uh, this concept also involves a long-term view of business profits as rather tools and an end in themselves tools in order to increase the overall well-being in the economic system, there was a discussion about image and what is clean food? well, now the big problem, the global one, will obviously be without food security. you can say something is just reducing co2 emissions. or you can say it differently, no. in fact, let's ensure biodiversity equal conditions of access for all categories of the population and a balanced environmental system, the first part that supports. uh, ensuring the food economy. that is, now we are giving way to a zone where interconnected capitalism will

be more and more in the zone of discussion, including disputes about what there actually is a model that will reflect justice. it seems to me that in general we are entering if the historical effects there are important. that's all, or freedom was an important category, the public is entering the zone. uh, some years when justice will be such an important category, and how should we find it? here's the solution 15 years ago. we could not even imagine an economic war. the scale that is happening today. isn't it time to put it up? goddamn, globalization costs the economic species. yes, if you look at the comparison of the periods of post-war growth, then the period of the cold war and then the era of confrontation, and then the era of free markets, we will call it conditionally, which ended, probably in the pandemic after all, when it became clear that international institutions began to have problems with tools for solving global problems, and all countries slipped into such a national model of response. that is, in this sense , what you are now experiencing is from a point

of tension. there is a reflection of a longer pattern that needs to be looked for, as if the reasons for this are definitely not recent years. i think really. we will now watch lower. you just say enough that globalization is gone, it’s probably pointless. i’ll just say a small number, which seemed enough to me bright reflection. that is, if we now come out with free news, green economics, the goal of which was to get rid of dependence on hydrocarbons and dependence on dictatorial regimes of all kinds. i am now, as usual , dictatorial, but because political arguments. yes, so 80% is conditional. battery accumulators for electric vehicles and new energy all over the world, plus almost the main part there. uh, the related night was supplied to china. yes, and in this sense, what was depending on the old hydrocarbons economy. now the supply of component base from china has become dependent on china and there are more than one such questions

, so to say that last year us imports as a special case, we see a decrease in american direct investment in china, but many, many parameters indicate that that cooperation was to continue. thank you. we talked. i’m coming to you sergienko, the crisis has hit the world economy, but most of all, it’s hit ordinary americans more, however, this is a fiction. cunning bees rush to the rescue eruption dmitry vershinin this is a new frame. i just i recently filled out the box. and now i’m looking at how much mikendrick honey there is, inspecting his hives. the harvest is larger than usual at this time of year , and the bees are preparing for winter. well, in this hive the plan was exceeded. mike says this year it turned out to be very sweet, like a washing machine , you start slowly and gradually increase it. speed ​​amateur beekeeper. mike is a typical

representative of the american generation. baby, boomer, born in the fifties , worked all her life as a miner, mining engineer and builder. yes, he can’t even sit on pension idle, when the coal industry was booming. we repaired coal mining machines. i was also busy with chemical production , which was hard. and even now it’s not easy. you keep waiting for coal mining to return to your life, but the years go by, and this does not happen. west virginia is the heart of the american industrial bloom. iron and coal mining were at their peak 10 years ago, however. gas and fracking made coal financially ineffective. the mines were closed one after another by the miners. lost their jobs mike took up farming and beekeeping someone should produce food. you just look at your neighbors, learn from them and understand that the main thing is not to stop. you have to constantly do something. one of the poorest states in the country today is desperately trying to shake off

the legacy of the coal-iron period . west virginia is completely covered in mountains. today it positions itself as a place for active recreation of floriculture and bees . the lack of endless fields and long mountain ranges make the state unsuitable for industrial agriculture. this means pesticides, including the main killers neonicodes. there is almost none here, the last 2 years there has been a sharp increase. interest, especially among young people, people register in clubs and take books on beekeeping to the library. they want to do something with their own hands, they want to get out of the virtual. and you see that bees are the connecting link between plants and animals, the chief beekeeper of the state travels throughout west virginia with inspections and lectures, prevent diseases , prescribe an antibiotic in time, suggest what to do when there is no queen, shonda knows everything about the world these amazing insects with a complex hierarchy and a clear distribution

of responsibilities within ulyanov william’s nectar is like fresh vegetables that the bees need to preserve, and the honey is sealed with wax. this is a preparation for the winter, the bees bring pollen on their legs, add lactic acid to it for the winter and ferment it , bob spencer's amazing apiary, the owners of the hive production company, bob's company ships dozens of new hives every month, all over the country. god is especially proud that the wood and labor are all local and west virginia, and for places with cold winters, it was quite a hive. the insulation in the hive turned out to be a warm box, which allows the bees to do their work in the cold season and during temperature changes , instead of gathering in a swarm and warming up, according to various estimates of west virginia, several thousand amateur beekeepers. they hope that honey extraction will replace mining and make this the executioners honey

center of america dmitry vershinin west virginia usa especially for international viewing. in the history books, the crisis of 2008 the year will take its place in the series of events of the first third of the 21st century that accompanied the dismantling of the old world, starting with the attack on the world trade center in 2001, another anniversary that was remembered this week, and ending with the outcome of the ukrainian crisis. what will it turn out to be like? when will it happen that historians will be interested in retrospect? well, and even more so for us as eyewitnesses and participants in the denouement that is yet to come, and in the moral dilemmas with the denouement associated after the advertisement. don't

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