apparent turmoil in the world bank, over the word "and". sation's chief economist got on the wrong side of staff there, after he said he wouldn't sign off a world development report if "and" made up more than 2.6% of the text. that's in the financial times. let's have a look in more detail. with us is oliver cornock, editor—in—chief of oxford business group. good to see you. let's start with the fight against extremism and the call for technology giant to do more. we hear this quite often in the aftermath of such events. do you think this is the right tactic?m has to be one of the approaches to be looking at the broader problem of how to tackle this. in manchester, this again comes to the fore. when i speak to people about an asymmetric fight, it is not a binary position but it is on many fronts and the internet is unfathomably deep. no surprise to me this is a focus. and that prime minister theresa may is leading on that. what power we have two make these social media companies take a stronger stance is unclear. the other angle is freedom o

‘5... would be calling the united states world bank 's. ..hat different. i would just point out the inconsistency. this is not a chinese lead banker. they have a chinese lead banker. they have a chinese president hu is the largest shareholder, but they have 77 other shareholders. we will incur finance with them in central asia, we had already done some. but we will do our appraisals and due diligence. i think it is a win—win situation for the region. the point about the way it the chinese do business, not getting stuck on the argument about whether the chinese are... they don't make value judgements. repeating your article one mission to apply the principles of multi—party democracy, pluralism and economics, that is the sort of value based submission that the chinese don't recognise. the world bank doesn't either. many banks don't. i don't see why this is just about the chinese. they are not the only bank... is about the fact that you have compromised, as you have sought to expand your markets, whether you have compromised your baseline princ

the world bank doesn't either. many banks don't. i don't see why this is just about the chinese.s about the fact that you have compromised, as you have sought to expand your markets, whether you have compromised your baseline principals. i don't think we have. we apply those principles for central asian countries and all other countries. we go through these criteria in great detail. a lot of public consultation as well, with lots of societies and organisations. i don't think we have compromised, we are rather transparent about it. a final thought on the international context. in the early 1990s, the west thought they had won the sort of values battle and the economic battle, and that liberal democracy and free markets were the way the world was going to go, and that free markets would propagate those western visions of how the world economy should work. things look a bit less clear now, not least with donald trump talking the language of protectionism, while the chinese appear to be the greatest defenders of open borders and free trade. does the current political climate make it

. >> i went to the world bank and imf and said, who has a good tax system? they said go to new zealand. new zealand followed the fundamental principle of good taxation, which the economists blr.ced to b that means broaden the base to lower the rates. said your salary, that his income, if you are an employer that pays health insurance, that his income to you. if you get free parking at the company, that is worth $20 per month. they text that as income. no deductions. you want to give to charity, we are all for it, but we do not give you a tax break. if you tax everything and give no write-offs, then you can set the rates very low. 8:00 easternht at ." "q&a, speaking at a graduation ceremony for the coast guard cadets, president trump said no politician in history have been treated more unfairly than himself. here is his half hour commencement address at the u.s. coast guard academy in new london, connecticut. ♪

matthew mcguire is a director of the world bank group.welcome to the show. >> thank you, good to be here. >> head winds for the u.s. economy? >> i think so, there are a couple the i think so to keep in mind, with 23 million people losing insurance, half of that is a food story. the number i would point to is medicaid, half of all are children, 37 million. if you think of cutting medicaid in a way that the budget has put forward, you will see big impacts on people most vulnerable, children. how does that impact? a couple of ways. one thing we know, when people tends to have health insurance, they tend not to take care of imnesses until it gets acute and they go to emergency rooms an those costs are quite higher. we have seen that partially over the years, one wants to create the insurance exchanges like we did under president obama. the second thing is if your child has asthma and you are fought getting regular treatment. you are being called, rushing offer to him 62, rushing to the hospital. are you up all night. all sort of other things

we were talking about the world bank and this is interesting. and keeping things nice and simple. one of their economists has been attacked for saying that he wa nts a been attacked for saying that he wants a limit on the number of the word and in a report. izzy on to something or is he being pedantic?” think he is. if you have been lucky to see one of these reports, and the imf and the world bank produce dense documents, and his point is can we get the punch line out early and tighten up the language? they need journalists. we do not tend to go on at length and may question is longer than they need to be and carry on and go on and on. i labour the point, but there you go. we are all guilty of this, but it is that aim for brevity. he says he wants to reduce the number of ands down to 2.6%. you can get carried away with the statistics which economists do. but he has got afair point which economists do. but he has got a fair point because these reporters are dense and quite long and if you have a point to make, make it early on and then have the r

as the head of the world bank forecasts a dramatic rise of robots in the workplace, we want to know whatould it mean for yourjob. would you work with robots? maybe you do already. let us know. just use the hashtag #bbcbizlive. hello and welcome to business live. one of the world's biggest energy companies, bp, has just announced its latest results for the first quarter of 2017. and as expected it's delivered much better news thanks to the rising price of oil and some effective restructuring. using the oil giant's preferred measure of underlying replacement cost profit, the first quarter of the year came in at $1.1; billion, a healthy improvement on the $485 million loss it made the same quarter last year. this year bp plans to sell off around $4.5 billion worth of assets as part of a global portfolio overhaul. details we know on that so far include last month's announcement that its selling a 50% stake in a chinese petrochemical business to sinopec, and it's agreed to sell the north sea's largest pipeline to ineos. but bp has been buying assets too — building up its natural—gas business,

. >> i went to the world bank and the imf. i said, who has a good tax code? they know. they said, go to new zealand. here is why. followed the basic principle -- pblr. brought me base, lower the rates. they used to have a texas to mike ours. hundreds of exemptions and deductions, and therefore very high rates. they got rid of all of them. your employer pays health insurance, that's income to your. in new zealand, if you get free 20 bucksthat is worth a month. they taxi on that as income and no deductions. you want to give to charity, that is great. were not giving you a tax break. you do that -- you tax everything and give no writeups, then you can set the rates very, very low. >> tonight at 8:00 eastern on c-span's "q&a." >> each week, american history "reel america" brings archival films. >> this is a poor country, very much like it was before the world0 -- before the war, but with the mark of war upon it. american troops are stationed here still. we are here, t a while. although the war is over on the remainield, we nurses with the troops wherever they are, to be rea

. >> i went to the world bank around the world and asked, what is a good tax code? they said go to new zealand. here is why. new zealand followed the fundamental civil of good taxation. they reduced it to the following letters, bblr. tax code to have a like ours. hundreds of exemptions and deductions and therefore every high rates. they got rid of all of them. they said, your salary, that income. if your employer placed insurance, that income. that's with $20 a month. then no deductions. you want to give to charity, that's great, we are all for but you are not getting a tax break. if you do that, you can set the rates very low. >> sunday night on a clock eastern, on c-span's q&a. sunday night on afterwards. journalist stuart taylor examines campus sexual assault aussies in his book, the campus rape frenzy, an attack on due process. by thelor is interviewed editor in chief of the national log journal and illegal times. >> share for the viewers what your general thesis is, that you are looking at here. what are we going to be looking at when we open the pages. ? >> th

. >> i went to the world bank and i.m.f., who has a good tax code. they said go to new zealand. they followed the fundamental principle of good taxation which the economists to four letters and that means broaden the base to lower the rates. they used to have a tax code like hours. hundreds of exemptions and deductions and very high rates and got rid of all of them. they said your salary, that's income. if your employer pays health insurance, that is hell income. if you get free parking, they tax you on that as income. and no deductions. you want to give charity, that's great but not giving you a tax break. if you tax everything and give no writeoffs, then you can set the rates very, very low. >> sunday night. >> an update on the military campaign to combat isis with secretary mattis and general duffered. this is a little less than an hour. >> good afternoon, ladies and gentlemen. i returned last week from a meeting in copen hagen with ministers of defense from 14 nations to coordinate our political way ahead in the defeat isis campaign. chairman dunford returned yesterday from

. >> i went to the world bank and the imf, i asked what a good tax code is and they said go to new zealand. new zealand follows the fundamental principle of good taxation which the economist reduce it to ebl or and that means broaden the base so you can lower the rate. they used to have a tax code like ours, hundreds of exemptions and deductions and then they got rid of all of them. they said, your salary, that his income. if your employer pays insurance, that his income. in new zealand, if you get free parking at the company, that is worth $20 and they tax you on that as income. no deductions. if you want to give to charity, we're not giving you a tax break. if you tax everything and get no write-offs, you can set the rates very low. announcer: sunday night at eight eastern on c-span's q&a. announcer: next, another commencement address, this one from republican senator rob portman. he spoke earlier this month at ashland university in his home state of ohio. this is 15.

the rest is coming from the world bank, japan, south korea and others. hit in recenteen years by falling commodity prices as well as a drop in foreign investment. the chinese pc maker lenovo has returned to profit despite a fall in shipment in the years since the end of march. the firm lost its title as the biggest pc maker earlier to hp. revenue fell by 4% to $43 billion. car production in the u.k. dropped by over 18% last month. wasdirectory's -- decrease partly due to the easter bank holiday. rising inflation is likely to have an impact on consumer demand for cars. shares in the low-cost airline by over 10% in london after reporting record profits for the past year. earnings jumped by almost a third as the carrier took advantage of low prices and passenger numbers. >> a former u.s. treasury secretary has pointed to a mistake in donald trump's budget. summers posted a blog after the white house unveiled that budget plan. double the spending plan counts some $2 trillion, using it to pay for tax cuts and to reduce the budget deficit. he says it appears t

yep, the big boss of one of the world's largest banks, goldman sachs, tells the bbc about his preparations a world after brexit — that's coming up in an exclusive interview. and it's in the air! not quite, it gets there eventually. a new rival to airbus and boeing takes to the skies. china's first home—grown c919 passengerjet has taken off on its maiden test flight in shanghai. and look at the markets. europe is open, it's all about oil, elections and us jobs figures. it's been an election campaign that's turned french politics upside down — now is the last chance for the two presidential candidates to appeal for voters before the polls open on sunday. we'll get the inside track on the last week of the contest and ask how much the winner can achieve when they get into office. no specific question today. just letters know what you think of the programme. be nice! just use the hashtag #bbcbizlive. hello and welcome to business live. the head of the american investment bank goldman sachs, has warned that britain's financial centre — the city of london — will stall when the country leaves the

and even though the fund would be run by the world bank, critics are already drawing comparisons to the clinton foundation, which drew fire from candidate trump for accepting money from the very same sources. >> imagine that, hypocritical statements from the way trump campaigned to the way he's governed as president. when have we said that? >>> coming up, did the president discuss firing the fbi director with the russians? the president's top adviser is not exactly throwing cold water on that report. >>> and billy bush is finally speaking out. what does he say about that infamous "access hollywood" tape with donald trump that got him fired before the election? ♪ there's nothing more important than your health. so if you're on medicare or will be soon, you may want more than parts a and b here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare d

obviously the clinton fountain and this world bank are two different entities. >> having a fund to promotet's a -- your hypocrisy is a joke right now because the clinton foundation actually had programs that helped women around the world. they took $25 million from saudi arabia, i believe in the uae. here you have $100 million, imagine brian fallon announcementing to the senior -- >> i agree that the double standard is there, and it is what it is. i like the fact that the president went to saudi arabia, i like the fact that the president stood up there and laid out very much late in his speech, the changes that meet to happen to create more opportunity for women and for might have been norths, for other faiths. he laid that out very, very clearly. to me that's a positive thing. could he and should he have been tougher? yes, but he wasn't and i'll take what i can get. >> the speech was very measured, very careful. he said we're going to fight the financing, everybody with applaud to that, but is he going to tell saudi arabia stop funding mofund ing mosques around the world. start funding ed

. >> i went to the world bank and the imf and i said, what is the good tax code. they said go to new zealand. new zealand followed the fundamental principle of good taxation, which the economist reduced to bblr.>> our look at that means broaden the base so you can lower the rates. new zealand used to have a tax code like ours, hundreds of exemptions and deductions, very high rates. they got rid of all of them. they said, your salary, that his income. if your employer pays health insurance, that his income. -- is income. they taxi on your parking -- they tax on parking. they are not giving deductions. if you tax everything and give no write-offs, you can set the rates low. >> sunday night at 8:00 eastern on q and a. >> our look at 2017 commencement speeches continues now with starbucks executive chair howard schultz. he spoke to graduates at arizona state university about his experiences growing up in poverty, and the importance of giving back to the community. this is 15 minutes. [applause] howard: thank you for that generous introduction. i really appreciate our

it brings me to my question, according to the world bank which of the polling countries had the greatesttransactions per capita in 2014. the latest year for which data is available. tanzania, qatar, norway or kenya? stay tuned and we'll tell you the correct answer. this week's book of the week is "the islamic enlightenment." this is one of the most important books on islam that i have read. can islam reform? the book answers the question by looking back over the last century and a half and it describes the struggle that the religion has had to modernize the forces that have liberalized the faith and those that hold it back. a rich, complex, well wrought account of this crucially important subject. and now for the last look, which i should warn our viewers, contains some graphic imagery. a gigantic failure of international diplomacy. that was the scathing indictment from norwegian diplomat after visiting yemen this week, devastated by the saudi-led campaign that is killing the country. but he wasn't just talking about the fighting itself. he was talking about catastrophic hunger in a coun

the kenyan government when ahead with the new railroad despite a warning from the world bank that itould be cheaper to refurbish the old one. king transport minister says that thanks to the revenue generated by the railway, being china backed their problem. 05/30/17 05/30/17 [captioning made possible by democracy now!] amy: from new york, this is democracy now! >> two men lost their lives standing up to somebody spewing hateful words directed at muslim passengers on an afternoon commuter train. these two men died heroes as a result of a horrific act of racist violence. another man was injured. amy: retiar

the fifth district of texas has a 100% risk waiting risk waiting under the basel accords and the world bank can advertise a zero risk rating for their green bonds? what political preference does that tell you ask and it is impossible to bring the threat of politicized lindy without bringing up that dodd-frank created rogue agency known as the consumer financial protection bureau. have any of heard of it? the cfpb is arguably the most powerful least accountable agency in u.s. history, and put into a three-judge panel of the d.c. circuit court of appeals, its structure is unconstitutional. it's a director virtually defines his own powers of aiding in the constitution notion of checks and balances to keegan launched investigations without cause, shake it down, levy fines, all without due process. in the current bureau director, virtually brags that he regulates through enforcement to call announcing his view of the law after the fact. this unfairly deprives all market participants of adequate notice so that they may act in good faith to conform their actions to the requirements of the law. ame

. >> i look to the world bank and the imf and the who has a good tax code and they said go to new zealand. new zealand follows the fundamental principle of good taxation, which is the economist reduced to broaden the base c can lower the rate. here's what they did in new zealand, they used to have a tax code like ours, hundreds of exemptions and deductions and therefore very high rate and they got rid of all of them. they said your salary, that his income, if your employer pays health insurance, that his income, in new zealand, if you get free parking, that is worth $20 a month, a tax you on that as income and been no deductions. if you look to give to charity, great, but we are not give you a tax break. if the tax everything and give no write-offs, then we can set the rates very let -- very low. announcer: tonight at eight eastern on c-span's q&a. host: our guest now is ken hughes, a researcher at the er

. >> i went to the world bank and imf and said, what is a good tax code?hey said go to new zealand, and here is why. new zealand followed the fundamental principle of good taxation, which economists bblr, ato four letters, broader base to lower the rates. they used to have a tax code like ours, hundreds of exemptions and deductions and very high rates, and they got rid of all of them. they said, your salary, that his income. if your health -- employer pays health insurance, that his income. parking is worth $20 a month, that his income. no deductions. everything and give no write-offs, then you can set the rates very, very low. >> sunday night at 8:00 eastern on c-span's q&a. >> washington journal continues. host: joining us now is andrew the pentagon bureau chief and senior editor at the military times, here to discuss the pentagon progress report on the fight against the islamic state in iraq and syria. caller: thank you for having -- guest: thank you for having me. host: let's talk about what we learned yesterday at the pentagon briefing with general te

development banks like the world bank and policy banks, private banks as well, sat down together yesterdaydraw up a framework. it was at that event that we spoke to the secretary-general of the european bank for ,econstruction and development who said he would have a role in this, and his bank was going to have a role, and they could help pulling private investors on board. i started by asking about what levels of fund they are likely to commit to the road initiative. we have gotten record investments of $9.4 billion over the past few years, and we are set to achieve more or less the same level going forward, which is huge for us. we have very high mobilization rates in the sector. between two and three dollars in the private sector. the name of the day was to involve the tech sector. reporter: that is one of the major development banks getting involved. we have had different receptions in different countries. and yes thing away from the summit because they are concerned about china's partnership with pakistan and the disputed kashmir region. indonesia, getting closer. they have a credit l

he was also executive director of the world bank, and is currently a distinguished fellow at the carnegie in washington. why do you think america is getting involved at this stage? it is hard to ignore the daily news about the tragedy that is happening in venezuela — it is a humanitarian catastrophe. it is very close to the united states and it is a very important country in very significant ways. how much influence oi’ significant ways. how much influence or change can the us and act in the country? not much. the us has limited options. it is not clear that the us has a policy towards venezuela. we know that president trump does not like the regime in venezuela. he has made a point every time he talks to a leader in the neighbourhood in latin america he makes a point of insisting that his original problem, that all the countries in the region should become more active in trying to salvage, it improve the situation in venezuela but as i said, the us does not have a policy at an attitude towards venezuela. months of food shortages, basically economic collapse, how has nicolas maduro manage

he was also executive director of the world bank, and is currently a distinguished fellow at the carnegien washington. he told me the us may be getting involved now because the situation had become hard to ignore. the daily news about the tragedy that is happening in venezuela — it's a humanitarian catastrophe. and so — and it's very close to the united states, and it's a very important country in very significant ways. and how much influence or change can the us actually enact in the country? not much. the united states has very limited options what to do about venezuela. and it's not clear that the united states has a policy towards venezuela. it has an attitude towards venezuela. we know that president trump doesn't like the regime in venezuela. president trump has made a point, every time he talks to a leader in the neighbourhood in latin america, he makes a point of insisting that that should be a regional problem, that other countries in the region should become more active in trying to salvage the suituation, to improve the situation in venezuela. but, as i said, the us does not ha

reporter: two-thirds of the cost of kenya's electrification campaign is being funded by loans from the world bank and the african development bank. but even with such widespread support, the cost of connecting to the grid and wiring a house falls on individual kenyans, like roy atieno. he and his wife, belinda, are subsistence farmers in unami. there's a new electricity pole right outside their house, but they can't afford the cost of connecting to it. is it frustrating to be too close to the source of electricity but not have access? >> i always wish, whenever i walk out from my house, i check at the pole, and then i wish it is already in my house. it is frustrating! >> reporter: in a 2015 u.c.- berkeley study, half of rural kenyan households surveyed lived within 200 meters of a power line, yet didn't have electricity. >> there's this whole other category of "undergrid," which are people that are off-grid, so they're not directly connected to electricity, but they're not living 100 miles away from the electricity grid. they're actually living, in many cases, ten feet away from their nearest pol

that essentially is what i think we are talking about in terms of the world bank. to be able to aggregate enough banks, enough financial institutions will lend to community development groups and then lend at lower rates along with an education piece. >> so -- >> so what we are coming at this in the digital economy, the two factors you're both talking about, like financial inclusion and availability on the women's side. an literacy or digital literacy on the other side. can come together. >> not only that, i think that if you give a credit also coaching, giving women access to markets is not just one you know silver bullet. you have to give the whole combination of issues. she has to have access to financial services. at the same time she has had some kind of coaching. some kind of access to market. thank you. her whole family situation has to also be taking care of because she will chopper enterprise at the family is having a hard time. so we need to, it is not a one issue. it has to be a concerted effort of interventions. >> we talk a bit about the lack of access

. >> i went to the zero world bank and they know they said go to new zealand it follows that fundamental principle of the taxation broaden the base so you can lower their rates. with hundreds of exemptions and deductions with very high rates than they got rid of all of them if you have a salary that is in come employer paid his income. that is worth 20 bucks a month. and then with no deductions. we will i give you a tax break and then you can set the rates very low.

saudis is going into a program that involves the women entrepreneur fund that will be run by the world bank, not ivanka trump. and it provides female entrepreneurs with financial support in the middle east. this is to help women in the middle east, having nothing to do with ivanka. i spoke to the pro vie tore of le petite robe. anthony, thanks so much for being with us. here the first lady just compleght her first international visit. and there used to be a breathless anticipation of what first ladies would wear. though she is extremely elegant, is there not a lot of talk in the fashion world by the. >> in fact there is not. what they should be doing is praising our first lady for how beautiful and chic she is representing our country. judge jeanine: she is wearing -- >> she at the jumpsuit with the magnificent gold of python leather. judge jeanine: for the first dinner in saudi arabia she is wearing a dress designed by a lebanese designer. >> it's appropriate. the woman is statuesque. she floats. she is so beautiful. and she is completely covered up and giving respect for the culture. from

started, everybody joined, and they were hoping it would snowball into a big thing to rival the world bankt think it's happening. rishaad: thank you so much for that. sophie: coming up, live at the inld economic forum cambodia. general electric spice president will join is to discuss the investment climate and the company strategy. rishaad: free market hang seng unchanged, looking like a negative day across the asia-pacific. ♪ .ishaad: right, there we go 9:20 nine in hong kong counting down to the start of the trading day in the territory, shenzhen, shanghai. i am rishaad salamat coming to from bloomberg's asia headquarters. sophie: i am sophie kamaruddin. we have been talking about chinese belt road initiative. rishaad: we will look at some of these banks. #8536, these for big ones -- four big ones. chinese banks are facing relatively high interest rates risks while supporting this belt road initiative. out this is is a concern highlighted by the banking commission saying some of these countries are suffering from large depreciation, negating some of the investment get tove. sophie: let's

these days, we have in parallel the world bank spring meetings but there's an international banking convenient and my job i work for long, long time replenish meant of funds and i'm currently one of about 200 billion. some of them will go to dot, hopefully, but it's also worldwide. so the fight for the funds is fantastic. and the perks associated very, very interesting. and also the competition, we also work with federal reserve, barbara is here but i work with the federal reserve on worldwide infrastructure financing, advising. thank you. just wanted to mention. >> was there one more question? >> there's one in the back. >> let's finish that one off. >> yes, i'm charlie clark, reporter with government executive. a few years ago -- charlie clark, reporter with "government executive". a few years ago there was a structure to do a bank and i was wondering if you could comment on whether that should get revived. >> a lot of people in my sector of public policy have great operation for thetive feeya office within usdot, transportation, inknow facing, financing -- no, infrastructure, financing inno

biggest banks in world would continue to be banks in far east, and france, and in united states banksey would shrink. charles: i could go on but we're out of time. a huge day for tech stocks. everyone else trailed. my commentary on how the rest of the market catches up next. charles: police have taken into custody a man suspected of stabbing to death one man on campus of university of texas austin, and suspected of stabbing several others, we'll be right back. charles: juggernaut, a huge force o or institution, that is old definition. the words best to describe it, tech stocks. they have gone parabolic. surge in growth in these names can be attributed to a number of factors, short squeezes, i will say, unlike the past, it is so much harder to complain that this rally is not go earnings. unstoppable tech names right now include facebook, apple, amazon, tesla, google, netflix. a lot of frustration with respect to how much money the tech companies are holding on to. with apple prepared to announce 250 billion in its covers tomorrow -- coffers tomorrow. people will be upset, they are borr

can you look at it differently because you are no longer part of that traditional banking world? hink brexit will create far more challenges than people expect today. chances of there being disruption in the markets is very high. if you think about the european banks, the big trade french banks, deutsche bank and germany , italy, the size of their derivative books in london, and most global banks have been using london as a clearing center for the derivative for decades and decades. there's an infrastructure, a regulatory infrastructure. andhey get subsidiarized their passports get taken away, there are tens and tens of billions of capital required to support those books -- books. to take those books back to italy or germany or france where there isn't the clearing infrastructure or regulatory infrastructure, this is one of many examples people haven't thought true. brexit will be very disruptive. erik: you see a lot of dislocation. the reason i want to press on this point is because there seems to be emerging the view that maybe the european banks have hit bottom, that this capit

sophie: the debt burden being a priority for chinese regulators, the world bank warned -- do you sees looming? >> i don't see a crisis, but you will see sporadic financial distress. what the policymakers and the regulators are trying to do, a controlled failure. i don't know whether that can be translated into english, so we .ay controlled explosion it means you want to engineer small-scale failure so you controlledrds and the failure, but you don't want to create systemic risks. i think that is what regulators are doing right now. so much.hank you a controlled failure it is. perhaps the power sector might be one of those. just ahead -- discussing his government's budget, including that bank levy and the amount of money they will spend on a fish to that interview is coming to you from australia live next. sophie: the australian government answer the call for economic stimulus with a $55 billion infrastructure plan. it borrows from president trump populist playbook. that's this gus all that with the australian finance minister. thank you for joining us today. something at the heart of

world. russian banks, brazilian banks, all over the world. >> armstrong: at what cost to us?est: well, it varies. the good news, i think at least during the obama administration was with interest rates relatively low worldwide, the cost of those dollars were cheap, but where we're now starting to see even here in the u.s. interest rates ar to tick up, and in numerical terms it's going to have a greater impact on what we're table to do long-term, in terms of spending for defense and other domestic programs. >> armstrong: obviously, this is a bipartisan issuement it's not. us it's not one you can lay. the party has little or no interest about doing something about the national debt. they keep going more and more in debt. the future generations are going to have to pay for it. is there anyway that this conversation will change, someone has the brass knuckle to make the tough decisions where americans would have to make sacrifices to start reigning in our spending? >> guest: i think so. president trump may be this that guy, because he approaches things from a business perspective

yep, the big boss of one of the world's largest banks, goldman sachs, tells the bbc about his preparationsor a world after brexit — that's coming up in an exclusive interview. and are you ready for round two? it's a biggie for europe, with one of them being knocked out. yep, it's the last day of campaigning before france elects their next president. so we're going to look at how each one's plans to run the eurozone‘s 2nd—biggest economy. welcome to world business report. i'm aaron heslehurst. if you don't like waving hands and high energy, i suggest you switch the channel right now. the rest of you who are staying with us, thank you. the chief executive of goldman sachs has warned that london "will stall" because of the risks from the brexit process. lloyd blankfein told the bbc that the company was developing contingency plans to move some of its 6,500 employees out of the capital depending on the outcome of the negotiations. mr blankfein was talking exclusively to our economics editor, kamal ahmed. lots of people he lacked to have their european business concentrated ina single their eur

staff member of the house foreign relations committee and the foreign affairs committee at the world bank. he has quite a varied career, and is the author of six books. he is working now on a book about wilson's reelection in 1916. he has a particular focus and interest in propaganda. with that, i want to thank all the panelists for appearing today. thank you. [applause] jack: you would think with all the flight difficulties and all the weather problems and everything going on, we would have a challenge, but you have got the right panel here to talk about america's entry into the war and should we have entered the war. rob: this is a provocative question. our program touched on it today quite a bit. the discussions that occurred on what is america's place in the world, particularly swirling around the election of the second term of wilson. i am going to have our panelists open with a couple of remarks, and then we will ask some questions. i can't myself resist saying that every time i look at that reelection of wilson, it echoes very much with the topics we hear today of domestic agendas

. >> and went to the world bank and imf and said who has got a good tax code, and they said go to newealand. and here's why. new zealand followed the fundamental principle of good taxation, which the economist reduced to four letters. bb alarm, that means broaden the base so lower the rates. these to tax code like ours. hundreds of exemptions under the actions and very high rates. and then they got rid of all of them. they said your salary, that's income. if your employer pays health insurance, that's income. new zealand come if you get free parking at the company, that's worth 20 bucks a month. they the taxi one that as income. and then no deductions. you want to give to charity, we are all for it but we are not giving you a tax break. if you tax everything and give no write-offs, then you can set the rates very low. host:

. >> host: i knew about her past in terms of she worked for the world bank, imf, harvard trained economist, and the way she -- you describe the book the systematically built the relationships with the international finance commit year and i wonder if she had it in her mine -- you talk in the very beginning she new she was destined for something but i wonder if she had it in the back of her mind always she would wind up being president, because she strategically used those relationships to deal with the debt that liberia was facing and i don't think anybody else would have been able to have done that. >> guest: i don't think nick else could ha -- when she came into office they had 4.7 billion in debt. >> host: unfair to begin with. >> guest: yes, about to be kicked out of the imf. couldn't qualify for anything, and the country was this post war apocalyptic mess. 15 years of civil war, 23 years of gross financial mismanagement and the place was a wreck, and because she had this international contacts she that this background she was uniquely qualified to begin the process and to get this deb

then you have the development banks, chinese development banks and the world bank's, erbd, and some ofe state owned policy wonders and private banks like standard chartered drawing up a financing framework. as well as all that, on the sidelines, we have had deals in securing a $5 billion credit line for a rail link, and china's largest oil and gas companies saying it will do $20 billion worth of deals in the last few days with participants. but clearly there is still a lot of desire. some are brought in and some still need more answers as to what their real intentions are about this initiative. manus: yeah. if you think of the reach of what it is they are trying to do, the challenges boggle the mind. there's of course the proposition of corruption, at historical. what are the biggest challenges, tom, as he sets this new, ambitious plan? >> absolutely. you touch on many of the most important ones. tied into that is a question that germany's economic affairs minister bought up. when we spoke to her, she had concerns about whether this will be a level playing field when it comes to biddin

christian: there is more money coming from the immigrants than the money that we receive from the world banktitude come from? >> papa: it's just the nature of the social fabric. it's not an individual, individualistic society. >> anthony: what about the french colonial experience? uh, that too, was it different than --? >> pierre: very different from senegal to the other countries. >> papa: oh, it's drastically different because the french used senegal as their out -- as, as their anchor for their colonial expansion. the french then said, "okay, you senegalese, we're gonna train you up to, um, borderline high school education and you're gonna be the forefront -- the fulcrum of our, um, of our administrative service." so, if you go to cote d'ivoire, you go to burkina, a lot of the guys who are running the, the, this administration were senegalese. >> christian: i think one of the major differences between senegal and the other countries, not that we're better or anything like that. but, in senegal it's probably one of the only countries in west africa, probably in all africa, where i can be f

the world doesn't want the large banks to be unregulated. ♪ ♪ david: the world for people running wallrm seems to be pretty good in that sense that wall street profits are high, therefore expectations are so high that things will inevitably go down? james: if you believe the u.s. economy has turned, which i do, and the federal reserve apparently concurs, and if you believe that we are destined for economic growth, more like 3% than 1.5%, particularly with unemployment where it is, and if you believe some of the policies the new administration is talking about on the economic front come through with little trade disruption, then it is not a total surprise that markets reflect that. david: you are the ceo of one of the best-known wall street firms in the country, in the world, so why do you think the image of wall street firms is not so great in the country? james: first, i have to say coming into this room i got a round of applause, which i appreciate. i will go anywhere for a round of applause these days. the facts are that absent the great depression, the great recession that we all w

where china is increasingly shaping that part of the world, both with the shanghai cooperation organization and the asian infrastructure investment bank away from a close columbus world dominated by the u.k. and the u.s., now dominated by gorsuch we have not thought about over the last couple of decades. francine: we will come back to your book, a fantastic read which goes through what would happen if this is the end of globalization and what it means for prosperity in the global economic order. back to central-bank policy, do you believe that because of the memos coming out of the u.s. that the president feels or is a political lame-duck president? because he is losing political capital or because congress is not behind him, and what does that mean for fed policy? >> difficult for me to comment on the future of donald trump. a lot of uncertainty. the working assumption i would use -- >> i think that is difficult to say. no one from germany is being charged so far. at some point, germany has to be in charge but the big issue is regard to the german relationship with the rest of europe. it depends not on monetary policy but fiscal poli

saudis dazzled trump's inexperienced negotiators with attention, arms deals, and donations to a world bank fund for women that ivanka trump is championing. even though trump demanded in 2016 that the clinton foundation return money from the saudis who, quote, want women as slaves and to kill gays, unquote. in short, the saudis played donald trump. america has now signed up for saudi arabia's middle east policy, a relentless series of battles against shiites and their allies throughout the region. that will enmesh washington in a never-ending sectarian struggle, fuel instability and complicate its ties with countries like iraq that want good relations with both sides. but most important, lit it will nothing to address the direct and ongoing threat to americans -- jihadi terrorism. i thought that trump's foreign policy was going to put america first, not saudi arabia. for more, go to cnn.com/fareed and read my "washington post" column this week. >>> and let's get started. we are going to dig deeper into all of the president's trip this week with our all-star panel. richard haass is the autho

american students look to vietnam, the protests in the early to thousands around the world bank.s on college campuses have always been hellions to raise hell, and i am all for free speech particularly when young people who are shaping this country get together and do it in a way that makes a wave. it >> kat: i have a question for judge alex. i loved the show "judge alex." what's your favorite case ever? >> hard to pick one in particular but i remember one girl who was dating a guy for six months and when they broke up, she handed him a bill for every penny she spent on him. i'm telling you, she itemized postage stamps. this idiot paid her back about $2,000 until his family told him to grow a spine. >> kat: i need to learn from her. >> eric: mine is "the five." i adore latin culture. i just found out something. you are of cuban descent. dying to visit cuba. what should i do? where should i go? >> i wish i could tell you but i haven't been back. i was born in havana. i came to the united states when america opened its arms to us. we were given an opportunity to start a new life her