. ♪ stephen: the summer edition of the world economic forum brings together more than 2000 people fromcountries. leaders in science, technology, and other innovative industries, searching for new ways to create meaningful jobs and sustainable development. >> geopolitical risks are on the rise, and structural challenges still exist. as long as we stand committed, we will be able to respond and prevail. stephen: so what are the biggest risks to the global economy? we put that question to the twittersphere. 46% said geoeconomic tension. 30% said rising debt burdens. and 15% foresaw weak productivity growth. the deputy secretary-general of the oecd, the deputy managing director of the imf, the economics professor at george mason university, and the head of chinese equities at blackrock. >> i think the respondents hit a really, really good topic, which is the geopolitical or geoeconomic tension. i absolutely agree that things like productivity and debt burdens are a threat, but these are not things that were built up overnight. they were built up over a number of years, and to some extent w

. ♪ stephen: the summer edition of the world economic forum brings together more than 2000 people fromcountries. leaders in science, technology, and other innovative industries, searching for new ways to create meaningful jobs and sustainable development. >> geopolitical risks are on the rise, and structural challenges still exist. as long as we stand committed, we will be able to respond and prevail. stephen: so what are the biggest risks to the global economy? we put that question to the twittersphere. 46% said geoeconomic tension. 30% said rising debt burdens. and 15% foresaw weak productivity growth. the deputy secretary-general of the oecd, the deputy managing director of the imf, the economics professor at george mason university, and the head of chinese equities at blackrock. >> i think the respondents hit a really, really good topic, which is the geopolitical or geoeconomic tension. i absolutely agree that things like productivity and debt burdens are a threat, but these are not things that were built up overnight. they were built up over a number of years, and to some extent w

. ♪ stephen: the summer edition of the world economic forum brings together more than 2000 people frome industries, searching for new ways to create meaningful jobs and sustainable

the world economic forum recently declared the biggest threat facing the planet over the next decade to be a global water crisis. the un estimates that by 2030, nearly half the world population will be living in areas of what they call high water stress. >> as we've got more and more population, more and more water use, we're seeing some constraints on some of the water resources. >> here in the united states, especially in the southwest, battles are already being fought over who gets the water and how. this impacts not just where people live but also how they live. >> going forward, we're gonna see a change in the nature of our communities, how they look, how they're landscaped, how buildings are designed. and we're going to adapt to our water situation. >> california's already more than five years into a drought, and the population of nevada and arizona -- well, they're expected to double between 2000 and 2030. >> water is precious in a desert. it's precious anywhere, but it's particularly precious in a desert. and we were using groundwater, pumping it out of the ground that had acc

technological advances leave us with a world of possibility but not all outcomes are positive the world economic forum recently weigh the benefits and the risks of advancing technologies and found that in many areas human attempts at regulation are too slow to keep up and we can't see far enough in the future to imagine all of the negative consequences to top balance before all the jobs are gone and all of our information is hacked is legal and media analyst lionel of lionel media leinil this report found that artificial intelligence and robots carry the most risk followed by cyber security risks associated with the internet of things how can he keep up with technology. well a couple of things let's focus on robots and ai for a moment robots are machines that are basically programmed to do something artificial intelligence ai is programmed to program itself that difference very very important difference now luckily for us so alone in areas such as cloning there have been statutes and treaties that science and universities and countries have agreed upon not to clone humans not to attempt certain forms

see first i thought russia was going to you know russia a year ago when i was at the world economic forum in st petersburg that was actually i three years ago three years ago i told the kremlin people that they should get into big point and it was like trading under fifty bucks just seen a max of not speak to anybody in the kremlin he was standing on the corner of somewhere in paris and i was there i was going to tonto i got i jacked it from the panel that's true because i made some fun of people but i was there but you know what a lot of people say people like democrats will say that it is a cult i think it is also called it a cult so just so you know there are these crypto anarchists out there and one day they could rise up and like. keeping with our game of phone thrones theme you know they could be like the fundamentalists coming out in the cold resistant because it's after just riveted consensus has distributed trust it's bitcoin solves for trust it's a mathematical formula that solves for trust think about all the institutions in your life that require trust you trust people on the

. >> join us now is jesse mcwaters and author of the new report at the world economic forum very goodfternoon to you thanks for joining us. >> thank you >> so your headline from this is as opposed to payment startups or fibtech companies like that, these massive tech firms that we know all too well are disrupting banks because of the data that they are able to gather, is that right? >> that's part of it it's interesting we've been talking for a few years about the potential for the fintechs to play the david in a david and goliath sort of play, but what we've really seen is that's not panning out, that the significant switching costs of getting people to move to new providers has -- has limited them and then at the same time banks are doing this quick shift to adopt the best of what they are seeing in fintech. >> where is fintech making inroads? is it in lending >> i think that fib -- tech is making inroad in defining what the user experience of the future is, that really in lending, lending club and on-deck have really defined what a lending experience should look like, and then you'

and the reason is, in my opinion, that the central bank according to the world economic forum has createdut $15 trillion in excess liquidity in the system basically, the central banks have created an economy that's 85% of the economy of the united states or of china. and consequently, we'll have this giant amount of liquidity of money in the system that has been bullying equity and it's been keeping interest rates low. and it's the first time ever in history that the central banks have been this involved in the markets. and i think mr. greenspan has not considered that. and that's why he's wrong. >> mark, i think we're now getting to the point where the u.s. central bank is expected to start reining in its balance sheet ever so slightly in the next few months, maybe but your point has been, it doesn't matter what the u.s. central bank does at this point. all of these other banks are going to keep injecting liquidity. so it's going to be a long time before we see this big monster pot of money beginning ing tni diminish the fed has talked about like $300 million and it's compared to 15 tril

economic diplomacy everywhere from its immediate neighborhood to the petersburg economic forum what can you do over the world going forward and the huge potential for india's growing economy by the system to equality and poverty and what is india's current leaders doing to prevent that from happening. prime minister mahdi good day it's great to have one answer to the so you can at the helm of the country for three years now almost to the crowd is there something that has disappointed in the three years. yes it has been three years. there has been a lot of talk about this date in my country as well. now as far is the economy is concerned all of the world's credit rating agencies rate. quite high. throughout the three years we have been working to make our dreams come true. people appreciate this or just because in a democratic country if you have support of the people this means your policy is right and you are doing the right thing. you need. our slogan is becomes the. together with all. our development for all month. because from the global point of view india achieved a lot but in these three years. the wo

economic diplomacy everywhere from its immediate neighborhood to the petersburg economic forum what can you do over the world going forward on the huge potential for india's growing economy by the system to equality and poverty and what is india's current leaders doing to prevent that from happening. prime minister mahdi good day it's great to have one answer to that so you've been at the helm of the country for three years now almost to the crowd is there something that has disappointed in the three years. yes it has been three years. there has been a lot of talk about this date in my country as well. now as far is the economy is concerned. of the world's credit rating agencies rate in quite a. few out these three years we have been working to make our dreams come true. i'm a new school but i've gotten.

forums that it is a member of such as aipac and so on. i'm cautiously optimistic about the economic future of taiwan and it is in a sense very integrated in the worldeconomy despite its former dramatic isolation. >> we can take the last questi question. >> good afternoon. for 14 years i worked in taiwan economies, their computer systems and during the past ten years the brands grew up in china markets but for people like me born in 1980s in our memory most taiwan brands like stc made in taiwan is a guarantee of quality and it's very good memory. we feel importantly that we cannot see many taiwan brands and product day by day so today i really want to see comparing with the brands in japan or korea where we feel. [inaudible] most realtor people go to japan to buy the electric are in the you know the brand and not an electric current uses more than 20 years. i have a question that how can we do promote to recover the booming market of taiwan brand? thank you. >> any comments? [laughter] >> i think it points to an important but economic transition that is difficult. that is how do you move from an economy that price on the gain and original equipment