scientist from the economic research company prognosis study this question in 2018 c.e.o. christiane birkhoff explains. the automobile industry automotive industry is in a decisive face right now due to various issues particularly the technology shipped towards electro mobility and we must ask the question what is the future viability of the german auto industry industry. to answer this the researchers sketch out 2 possible scenarios. in one the german automotive industry masters the challenges ahead. on those under the and the other scenario is one in which the german automotive industry fails to do so or at least fails to do so comprehensively there is a reason to at least consider this possibility in this month and every going to see . if german automakers do not manage to innovate they could face a bleak future according to prognosis the automotive industry would shrink by about 40 percent by $24051.00 in 3 jobs in vehicle manufacturing would be long. which would have repercussions for the entire german economy. and of currency of you one question is what is the impact

scientist from the economic research company prognosis study this question in 2018 c.e.o. christiane berghoff explains. issues in the automobile industry automotive industry is in a decisive phase right now due to various issues particularly the technology shipped towards electro mobility and we must ask the question what is the future viability of the german auto industry industry. to answer this the researchers sketch out 2 possible scenarios. in one the german automotive industry masters the challenges ahead of. us under the and the other scenario is one in which the german automotive industry fails to do so or at least fails to do so comprehensively and to sell there is a reason to at least consider this possibility from the 6 months of eagles and see . if german automakers do not manage to innovate they could face a bleak future according to prognosis the automotive industry would shrink by about 40 percent by $24051.00 in 3 jobs in vehicle manufacturing would be lost. which would have repercussions for the entire german economy. one question is what is the impact of

scientist from the economic research company prognosis study this question in 2018 c.e.o. christiane birkhoff explains. the automobile industry. the automotive industry is in a decisive face right now due to various issues particularly the technology shipped towards electro mobility we must ask the question what is the future viability of the german auto industry just be sure. to answer this the researchers sketch out 2 possible scenarios. in one the german automotive industry masters the challenges ahead of. us on that and the other scenario is one in which the german automotive industry fails to do so or at least fails to do so comprehensively to get the sale there is a reason to at least consider this possibility some distance money and we're going to see that if german automakers do not manage to innovate they could face a bleak future according to prognosis the automotive industry would shrink by about 40 percent by 2840 $51.00 in 3 jobs in vehicle manufacturing would be lost which would have repercussions for the entire german economy. and of crowding so you one ques

scientist from the economic research company prognoses study this question in 2018 c.e.o. christiane birkhoff explains. the automobile industry. the automotive industry is in a decisive phase right now due to various issues particularly the technology shipped towards electro mobility we must ask the question what is the future viability of the german auto industry just be sure. to answer this the researchers sketch out 2 possible scenarios. in one the german automotive industry masters the challenges ahead of. us on that and the other scenario is one in which the german automotive industry fails to do so or at least fails to do so comprehensively there is a reason to at least consider this possibility some distance month and even to see . if german automakers do not manage to innovate they could face a bleak future according to prognosis the automotive industry would shrink by about 40 percent by $24051.00 in 3 jobs in vehicle manufacturing would be lost which would have repercussions for the entire german economy. and of currency of even one question is what is the impact

scientist from the economic research company prognosis study this question in 2018 c.e.o. christiane birkhoff explains. this is in the automobile industry automotive industry is in a decisive pace right now due to various issues particularly the technology shift towards electro mobility we must ask the question what is the future viability of the german auto industry industry. to answer this the researchers sketch out 2 possible scenarios. in one the german automotive industry masters the challenges ahead of. us under the and the other scenario is one in which the german automotive industry fails to do so or at least fails to do so comprehensively and to sell there is a reason to at least consider this possibility for me to smile in every going to see. if german automakers do not manage to innovate they could face a bleak future according to prognosis the automotive industry would shrink by about 40 percent by $24051.00 in 3 jobs in vehicle manufacturing would be long. which would have repercussions for the entire german economy. and of currency of you one question is what

economic research shows that will be a bad bet. the second bet is that all the increases in corporate taxes will not undermine the competitiveness of the u.s. economy and u.s. companies. by all accounts, the biden plan will actually make the u.s. an outlier once again with one of the highest corporate tax rates in the industrialized world and a very uncompetitive international tax code which will sit back competitiveness of u.s. companies and put them behind the eight ball and trying to compete overseas against our foreign competitors. host: the american jobs plan with the president has talked about, the idea of the corporate tax structure, would raise the corporate income tax, currently at 21% to 28%. what's wrong with that 28% figure? guest: we need to also add onto that the average state rate which is about 5.5%. when you add those together, it puts the u.s. corporate tax rate over 32% which, once again, puts us at one of the highest corporate tax rates in the industrial world. even worse in some respects is the fact that the text base of the corporate code is quite broad right now. a lot of the old deductions have been removed. the effective rate on u.s. corporat

what you need to understand is talking but a growth company, you need to do deep research on the unit economics of the business you are analyzing so you can say with confidence in five years this will be generating x amount of revenue and we think that will translate to even odd cash flow. and we think -- it can be something staring you in the face. you have to do more research to pull out those unit economics. you need to talk to people in the industry. you can just open it up and it will slap you in the face. jonathan: remember the good old days. thank you, appreciate it. the nasdaq 100 bouncing back by a half of 1%. news out of europe, the eu proposals to rein in subsidized foreign firms seeking the power to find companies adding unfair foreign aid. every time i said the word for in their, it is china -- the word foreign there, it was china. tom: a lot of the reading i've been doing on china right now really wraps back to this delusion that the s oes had gone away. they haven't. lisa: the signal versus the noise. the idea is people try to crack down on china and yet still trade remains domin

that the economic incentive is lower for pharmaceutical companies? joseph: that is nonsense. the basic researchthese vaccines are based was finessed by governments around the world. secondly, the expansion of the production at the development of these particular vaccines received enormous government support, not only from the united states but from other countries. the amounts of money the drug companies would get on these vaccines are going to be enormous returns, well in excess of any normal return. what we are talking about is whether they would get $10 in percent return on investment or 1000% return. that is enough incentive they will undertake that research. lisa: there is also a question that dovetails into larger infrastructure spending joe biden has proposed. are you in the camp of janet yellen that taxes should be relays done companies -- should be raised on companies, and if so why is it not sufficient to do deficit spending? joseph: i do agree that eventually we need to correct our distorted tax system, which in terms of the percentage of gdp raised in taxes, it is insufficient to ra

what is your response to this, if the economic incentive is that much lower for the pharmaceutical companies? >> nonsense. let's be clear. the basic researchthese vaccines had was financed by governments around the world. secondly, the expansion of the production and the development of these particular vaccines received enormous government support, not only for the united states but from other countries. the amounts of money that the drug companies are going to get on these vaccines are going to be enormous returns, all well in excess of any normal return. what we are talking about here is whether they will get say 10,000% return on their investments or 1000% return. 1000% return is enough incentive to make them understand, do not worry about that. >> there is also a question of that this dovetails into larger infrastructure spending. are you in the camp of janet yellen taxes should be raised substantially on companies, and if so, why is it not just sufficient to do deficit spending that does not seem to be a problem for this country? >> i do agree that eventually, we need to correct our distorted tax system in terms of the percentage of g

research, technology, development, economic deve development, partnership with redustry, and bring the regional economic development activities together, you can really make a region prosper.his and it attacks new companies. u so i know thiss can t be done nationally. and this is a time for us to do that for competition, this is a time for us to do that experience scale across our ] nation. so it can be done. you. and so the concept of something that i've been talking about. >> thank you. thank k you, senator brawn. senator haggerty, i understand you would like a second round. so let me go to you. >> thank you, madam chair. might help if i turn this on. i appreciate that. i want to follow up on the questions that senator von . holland asked focused on quantum computering. and i think the senator from maryland made a great point this is an area of great competition we are in right now. and the united states share of research dollars is declining, even though absolute expenditures are going up, it's because china is investing so heavily in these areas. and if that investment continues, if they achieve the break through they are looking for, they may be in a position to by brute force break our o tt enkripg

this surge in economic activity right now, and that is still reading through to the companies that were hit hardest, and it is not going to continue forever more. tom: i love in your research note when you talk about the inflation element. to me, the change this week is not $15 an hour, but people whispering $16 and $17 an hour as the wage inflation elephant. that gets me to something i have never framed before. i don't want to get gloomy here, but can i say a cost push powell is something we may have to consider, where the fed has to look at cost push inflation? david: i think it is a reasonable expectation because you are really seeing two things go on right now. on the one hand, you are seeing commodity prices. they have come off the boil a little bit, but input prices continue to move higher. then you have this whole issue of wages. it is really interesting because you look at earnings estimates for next year, people are looking for 15%, 20% earnings growth on the back of what we think will be almost 50% earnings growth this year, but nobody is talking about the fact that profit margins are at all-time highs. if we do see the wage growth i think is going to materialize

companies. pres. biden: the chinese are eating our lunch. they are eating our lunch economically. they are investing hundreds of billions of dollars in research and development. that is why right now, if it keeps going that way, they will only electric car market in the world. we've got to compete. haidi: we did see china's biggest tech firms touching session lows. for more, i want to bring in tom mackenzie who is with us out of beijing rate we are getting lines setting up expectations to the u.s. secretary of state antony blinken's speech of the un security council on friday, saying he is expected to defend a rules-based order at the one -- u.n.. is this a continuation of maintaining pressure on beijing? one of the few points of consistency from the previous administration. tom: absolutely. when it comes to china policy, the continuity is pretty clear between the biden administration and the trump administration, even if the rhetoric and the dealings between officials is arguably very different. according to sources, our sources in washington, six sources, they are the biden administration that they will continue the ban on u.s. investments

surveys show companies are stepping up investments and households are starting to splurge pandemic savings. joining us now is josie dent, centre for economics and business research big take away from the big gdp number we got this morning? there was movement, better than anticipated numbers coming through in march, which means the quarter was a little better than anticipated, but still a negative number, still contraction of course for the u.k. in q1. josie: of course. q1 was characterized by lockdown, so the majority of the quarter, people could not do much in the way of economic activity. 1.5% contraction, which is slightly better than what was anticipated. the reason for that better performance is march, when schools went back, so we saw a pickup in education activity, but also retail sales performing very well. despite non-essential retail being -- consumer confidence is at its highest level since 2016. people are willing to spend at the moment, even when shops are closed, they are now open and the economy continues to -- which will drive further spending. anna: how do you anticipate that savings to be spent? for those who lost jobs during the pandemic, this

economic research shows that will be a bad bet. the second bet is that all the increases in corporate taxes will not undermine the competitiveness of the u.s. economy and u.s. companies accounts, the biden plan will actually make the u.s. an outlier once again with one of the highest corporate tax rates in the industrialized world and a very uncompetitive international tax code which will sit back competitiveness of u.s. companies and put them behind the eight ball and trying to compete overseas against our foreign competitors. host: the american jobs plan with the president has talked about, the idea of the corporate tax structure, would raise the corporate income tax, currently at 21% to 28%. what's wrong with that 28% figure? guest: we need to also add onto that the average state rate which is about 5.5%. when you add those together, it puts the u.s. corporate tax rate over 32% which, once again, puts us at one of the highest corporate tax rates in the industrial world. even worse in some respects is the fact that the text base of the corporate code is quite broad right now. a lot of the old deductions have been removed. the effective rate on u.s. corporations wil