was christine legarde today makes veiled threats against trump trade policy joining me now to discuss it is a former clinton aide when he talks but there's a legal loophole he brings in other valuation yeah and you know what they may find it's completely legal alex as in the north everybody wants to hide the money from the government who wants to give it to them but i think that will be really interesting you know what the chief financial officer of trump's organization i'm just thinking this is going to be interesting in the coming weeks also service father fred trump and he the c.f.o. of trump organization was subpoenaed by bob miller's investigation to come forward and for the grand jury to talk about russian financial transactions with the organization so the government's already talking to the c.f.o. it will be interesting because he signed off on all the tax returns and things like that now that this is circulating out there because the republicans are so often complaining that the clintons are doing at the d.n.c. they're involved in a deal with putin of russia and even anything

was christine legarde today makes veiled threats against trump trade policy joining me now to discuss it is a former clinton administration official laura schwartz in person in person it's great to be in studio thanks for coming to the studios are obama presumably your old boss clinton were against bricks it what prospect you think britain has of getting a trade deal with trump well right now trump has put forward a trade deal just this week with mexico and canada so we've got north america taking care of south korea that set up japan's coming to the table but we have yet to hear any announcement of great britain in the last week at the u.n. general assembly theresa may sat down with the president they were to talk trade and a few other things but there was absolutely no readout in the united states after that there's no big press around it obviously it's something that the united states together has to face but right now from making many plans to reach it we should take note in britain that there was no readout of exactly so today is this federal start of the. world bank meetings and

well i would say that christine legarde is in very good company here at the i.m.f. annual meeting she has basically just voice what everyone here has been saying yesterday who was the french the e.u. commissioner who we see used to be for prime says finance minister show he did so he also knows what he's talking about and he basically said that the trade war bad donald trump has started is stupid so even though donald trump is not here he's basically taking center stage at these meetings here and there's a lot of consternation about what he might do next for a mere mention of one of the big topics of this meeting is the trade dispute between the united states and china what ways of solving the problem are being discussed. well as head of the dow but you see all. it was also here yesterday he said he said i don't see any light at the end of the tumbled right now apparently there's no direct bilateral talking between the u.s. and china so the am i am happy that the world bank here that they might be able to create a forum where these two superpowers if you will. can t

chief christine legarde weighing in on why mr trump was wrong to criticize the fed it's clearly. a necessary development for those economies that's all no showing. much improved growth. inflation that is picking up and falling into the range or reaching the threshold unemployment of extremely low it's inevitable. central banks make the decisions that make. their mess christine legarde speaking there now for more let's cross over to our correspondents at the i.m.f. world bank meeting in bali florian how are people reacting to the head of the i.m.f. essentially telling us president you don't know what you're talking about. well i would say that christine lagarde is in very good company here at the i.m.f. annual meeting she has basically just voice what everyone here has been saying yesterday who was the french the e.u. commissioner who we see used to be francis of finance minister so he did so he also knows what he's talking about and he basically said that the trade war bad donald trump has started is stupid so even though donald trump is nonsense here he's basically taking center

chief christine legarde promised to supply funds sit today. too. soon after it was back to the usual order of business with the release of the i.m.f. latest report on the outlook for global growth the spat between the world's top two economies drawing consequences the international monetary fund has cut its global growth forecast for this year and the next. notwithstanding the present and momentum in the us we have downgraded its twenty nine hundred growth forecast owing to the recently enacted tariffs on a wide range of imports from china and china's retaliation. china's expected twenty nine thousand growth is also marked down another factor worrying economists is the rise in global debt. in the last decade average national borrowings have risen from around a third of economic output to more than half that's an especially big concern for emerging economies many of which have seen money leave as a result of a rise in interest rates. with economic titans at loggerheads and developing countries under pressure the threats to global growth appear very

chief christine legarde and the c.e.o. of germany's siemens joe kayser. kayser took his time before announcing he'd pull out of the event allegations of saudi involvement in his death forced his hand. his events was one of several business giants that found themselves caught between morality and profit companies that pulled out included j.p. morgan bert and ford exactly how many guests cancel this still unclear the organizers removed a list of plan speakers from their website just what i hope we value for school but others were happy to attend the three day meeting which promised major billion dollar deals. saudi arabia wants to diversify its economy and needs large scale investment for a range of new infrastructure projects job creation is another push factor one in three people under thirty in the kingdom are currently unemployed investors hadfield saudi crown prince mohammed bin sun mon as a positive influence of the future after he lifted the ban on cinemas and allowed women to drive but now many companies are distancing themselves from the regime. sh

and china what does christine legarde the i.m.f. boss want them to do to lessen the impact of that. well in a way of putting it says she said it directly they want she wants them to deescalate this trade friction this trade war that's been going on the last several months now mainly because she said yes obviously you've got the two largest economy in the world not even talking to each other anymore you know there was early hope early hope that they might meet representatives from those two nations might meet on the sidelines here at these meetings this week here in bali that didn't happen the friction and the rhetoric from both is still escalating but what really concerns people here beyond the two largest economies is that there's a knock on effect of this trade war and they've actually even downgraded the i.m.f. has downgraded the economic growth outlook for the global economy by point two percent over the next two years changing on the trade friction also the world bank who looks more at alleviating poverty around the world lifting nations out of their lower ecan economic situati

fund is the latest big name to pull out of the saudi conferences known as davos in the desert christine legarde is perspire owning a trip to the middle east which was due to include the meeting of major investors in riyadh later this month she has said she's horrified by the disappearance of jamal khashoggi. on his visit to riyadh my palm peo said saudi leaders told him a quote transparent and timely investigation will be carried out into the show g.'s disappearance but u.s. senators are skeptical about whether that will be allowed to happen mike hanna reports now from washington. mike pompei you held meetings throughout the day speaking to the king the crown prince as well as the foreign minister he came away with saudi denials and the pledge that a credible investigation is already underway they made a commitment to to hold anyone connected to any wrongdoing that may be found accountable for that whether they are a senior officer official they promised accountability for each of those persons whom they determine as a result of their investigation as did deserves accountability including membe

chief christine legarde have both canceled their attendance joe kayser the c.e.o. of german industrial giant siemens has pulled out as well albeit reluctantly. kitty dimitri a c.e.o. of their russian direct investment fund an idea. the organizers had launched a charm offensive to ensure the conference met super billing with a high profile roll call of business names to to attend but the reality on the ground as the conference opens is a sobering one. that among those giving the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. men saying the business of business is doing business business has also the responsibility is this leaders are also moral leaders in our well now with. ford j.p. morgan and likewise dropped out of the event. the organizers have refused to reveal just how many guests will be absent and have taken down a list of plans speakers posted earlier on line. the three day meeting dubbed davo

chief christine legarde on. what it is tempting to be a bit depressed about this perspective i am actually hopeful because there is a clear appetite to improve and expand trade think of the florey of welcome discussions and proposals to strengthen the w.t. you all think of all the new trade deals such as d.p.p. eleven. the regional african trade agreement and the progress made on the us mexico canada deal we have progress in some areas yes but all this against a backdrop of a trade war between the united states and china. the world bank had a sober message about it had to take for ta ta response between the world's top two economies could top the contagion effect. protections trade policies can cause a chain reaction as more countries adopt similar measures. the global recovery is built on investment and there's a real danger that businesses will decide to wait for more policy clarity before engaging in new projects ten years after the last global financial crisis there's a whole new set of risks to the world ec

trade minister not going to davos in the desert christine legarde the i.m.f. boss not going to davos in the desert the french the dutch as well we understand in the next couple of hours might pompei of the u.s. secretary of state reports back to donald trump and steve minutia the u.s. trade secretary will then decide if he's going to go or not depending upon mr pompei of take on those conversations that he had in riyadh if mr mean you shouldn't says i'm not going either that surely would send a massive signal to riyadh. i think of the problem that the white house has and indeed what a lot of european allies have is that there are a lot of cases going on in the region a lot of crises in which saudi arabia is a major player and is required to be a major ally this includes issues regarding iran this includes issues in yemen this includes issues regarding palestine and israel let's remember that one had been said man is an integra part of cushion as deal of the century and he has been a key is very keen and eager to apply significant pressure on palestinians to ac

monetary fund is the latest big name to pull out of the conference dubbed davos in the desert christine legarde is postponing a trip to the middle east which was to have included the meeting of major investors in saudi arabia later this month god has said she's horrified by it because she'll g.'s disappearance a palestinian has been killed three others injured after israeli forces launched airstrikes on gaza the israeli military says that it was targeting a group firing rockets israel's defense minister ordered the closure of the others and abu salam crossings following the attacks in which three people were injured. another action candidate has been killed in a bomb attack in afghanistan as violence threatens to disrupt saturday's vote the blast happened in the southern province of helmand at least ten candidates have been killed in the run up to the ballot hundreds of people have been injured in attacks across the country. chinese state media has released video of in time of camps for a week of muslims in the western province of jang despite international criticism the government has defended

in the deserts here are some of the others on the list the international monetary fund boss christine legarde is out also the c.e.o.'s of j.p. morgan and morgan chase i should say and stephen schwarzman is also not attending he is the c.e.o. of blackstone which is a big beneficiary of some of the funding politicians of pulled out as well as steve miniature you've got the french and dutch finance ministers and the british trade secretary recently announced withdrawals as well and media partners to that includes c.n.n. c. and b. c. the financial times the new york times the los angeles times eleven the u.s. president continues to face heat from both republican and democrat lawmakers we've got kimberly health at the white house let's talk first of all about these developments and steve. yeah let's start with steve management because you were listing there the very long list of people no longer attending that saudi investment conference and this is really key because we had been spec'd expecting a determination from the treasury secretary and friday it came a day earlier and followed immediately

increased the previous bailout package to fifty seven billion dollars christine legarde managing directorof the i.m.f. says the seven billion dollars boost is all about restoring investor confidence. the fund remains fully committed to helping argentina tackle the challenges that it faces it is the largest ever program that. is putting together we stand by argentina and we have confidence in the efforts but they want to deploy the big change is into numbers. nineteen nineteen nineteen billion u.s. dollars additional. full twenty nine. and that's our show for this week but remember you can get in touch with us via twitter use the hash tag a j c t c when you do or drop us an e-mail counting the cost of al-jazeera dot net in our address is more for you on live at al-jazeera dot com slash c.t.c. that will take you straight to our page which has individual reports links and entire search for you to catch up on. for this edition of counting the cost i'm sam is a than from the whole team thanks for joining us the news hour is next. we're . i have dedicated almost my entire professional life to t

of course there's an elephant in the room the american president that if you listen to what christine legarde had to say about what's positive about the outlook must have been very difficult for her to find one positive thing to say about the u.s. administration by talking about this u.s. mexico canada deal a lot of the criticism that the i.m.f. came out with is targeting the united states or the policies of donald trump you know of course the trade policies but also the warning of those capital outflows from emerging markets is an indirect criticism of the united states policy you know to boost already strong economy with tax cuts this policy of course causes money to be sucked out of emerging economies in other places in the world into the united states which causes imbalances for the financial system and speaking of white house policy the trade spat between the united states and china as ask elating further with the u.s. representatives doubling down on accusing china of currency manipulation. well yes the accusation accusations have been out there for a while now stephen when the treasury

increased the previous bailout package to fifty seven billion dollars christine legarde managing directorof the i.m.f. says the seven billion dollars boost is all about restoring investor confidence. the phone remains fully committed to helping argentina tackle the challenges that it faces it is the largest ever program that the i.m.f. is putting together we stand by argentina and we have confidence in the efforts but they want to deploy the big change is into numbers. nineteen nineteen nineteen billion u.s. dollars additional. full twenty nine. and that's our show for this week but remember you can get in touch with us via twitter use the hash tag a j c t c when you do all drop us an e-mail counting the cost of al-jazeera dot net in our address is more for you online at al-jazeera dot com slash c.t.c. that will take you straight to our page which has individual reports links and the entire episode for you to catch up on. it for this edition of counting the cost i'm sam is a than from the whole team thanks for joining us news al-jazeera this next. story . volcano erupted explosively last

monetary fund will not be attending a key investment conference in saudi arabia a spokesman for christine legarde now says she is to furring her trip to the middle east the government said last week that she still intended to attend the conference despite being quote horrified by the disappearance of journalist. consulate in istanbul the next of the conference next week to highlight saudi arabia away from an oil based economy joins the heads of companies like google. and to j.p. morgan chase council and their appearances. it watching the news coming to you live from berlin wall coming up at the top of the hour in the meantime you can get all the latest information on our website that is dot com thanks to johnny. the band. families for freedom mothers sisters and wives some serious. traveling through europe to raise awareness. their loved ones have disappeared take care by the syrian regime. my son's been in jail for six years and i don't know how. their boss tells the stories from the gone missing. from the focus on a. reliable. news distance for the closest suddenly. the border most of. the book

only last week christine legarde the head of the international monetary fund said she was still going to saudi arabia even though she was horrified at the disappearance of jamal khashoggi now her office says her trip is being deferred jamie dimon the c.e.o. of j.p. morgan chase has also pulled out it's had eighty five years of business in saudi arabia and began by helping us oil firms start up their stephen schwartz one chief executive of blackstone isn't going either he said to have been one of the first western finance is to actively court crown prince mohammed bin salman bill ford of the ford motor company has pulled out two he's blaming a shuttling conflict ford was hoping to boost sales after saudi arabian women were allowed to drive media companies including c.n.n. b.c. financial times c.n.n. and the new york times have also withdrawn so have some banks including h.s.b.c. b.n.p. power and so cities in iraq some countries have said they won't be sending trade delegations but it's important to remember this just because key individuals might not be going that doesn't guarantee the

chief christine legarde have both cancelled their attendance joke the c.e.o.of german industrial giant zealand's has pulled out as well albeit reluctantly. kitty dimitri a c u. if there are shouldn't dyadic investment try an idea. the organizers had launched a charm offensive to ensure the conference minutes. with a high profile roll call of business names to to attend but the reality on the ground as the conference opens is a sobering one kit among those keeping the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. i don't know what he meant saying the business of business is doing business business has also the responsibility business leaders are also moral leaders in our well now with. forward j.p. morgan and likewise dropped out of the event. the organizers have refused to reveal just how many guests will be absent and have taken down a list of plan speakers posted earlier on line. the three day

chief christine legarde promised to supply funds. so that today. too. soon after it was back to the usual order of business with the release of the i.m.f. places reports on the act look for global growth the spot between the world's top two economies drawing consequences not withstanding the present the man momentum in the us we have downgraded its twenty nine hundred growth forecast owing to the recently enacted tariffs on a wide range of imports from china and china's retaliation china's expected twenty nine thousand growth is also marked down. another factor worrying is the rise in global debt in the last decade average national borrowings have risen from around a third of economic output to more than half. that's an especially big concern for emerging economies many of which have seen money leave as a result of a rise in interest rates. with economic titans at loggerheads and developing countries under pressure the threats to global growth appear very real. it's quite a picture of the i.m.f. spending for some more analysis let's bring in our financi

only last week christine legarde the head of the international monetary fund said she was still going to saudi arabia even though she was horrified at the disappearance of jamal khashoggi now her office says her trip is being deferred jamie dimon the c.e.o. of j.p. morgan chase has also pulled out it's had eighty five years of business in saudi arabia and began by helping us oil firms start up there stephen schwartz one chief executive of blackstone isn't going either he said to have been one of the first western finance is to actively court crown prince mohammed bin salman bill ford of the ford motor company has pulled out two he's blaming a conflict ford was hoping to boost sales to study a arabian woman were allowed to drive. media companies including c n.b.c. financial times c.n.n. and the new york times have also withdrawn so have some banks including h.s.b.c. b.n.p. and so cities in iraq some countries have said they won't be sending trade delegations but it's important to remember this just because key individuals might not be going that doesn't guarantee their organizations or

meeting earthquake promethean because the terrible death toll in the media what do you make of christine legarde convicted of corruption in the paris court she seems to be making pretty veiled threats maybe thinly veiled threats against your president saying this protection is in this kind of what you would call the art of the deal morally wrong with the guard is of course. a globalist in terms of mentality she would be anti trump the i.m.f. has never been like the world bank is favored institution anymore i mean went to the un and pounded the last week if he could go to bali which he won't he would do the same against the i.m.f. i don't think that she has you know much significance to suggest that the you know global trade will be off by point two percent. as a result of the trade difficulties it is not consequential the real problem i think in the global economy is a rising interest rate environment which will affect emerging markets actually quite dramatically but it's not the opec countries because the oil price looks pretty firm between seventy five and eighty which is positive for countrie

monetary fund who will not be attending a key investment conference in saudi arabia a spokesman for christine legarde now says she is deferring her trip to the middle east lagat had said last week that she still intended to attend the conference despite being quote horrified by the disappearance of a saudi journalist. is the saudi consulate in istanbul a conference next week was intended to highlight saudi arabia's move away from an oil based economy like god now joins the heads of companies like google and j.p. morgan chase who all canceled their appearances. and that flicks beat investor expectation to act nearly seven million new subscribers in the last quarter the streaming service reported the profit more than tripled from a year ago and revenues remained strong netflix has invested heavily in all riginal programming but investors have worried about subscriptions keeping pace of the new figures a boost in value of netflix twelve percent in after hours trading parts of a positive day on wall street. and here's a reminder of the top story we're following for you. u.s. secretary of state mike pompe

trade secretary saying well actually i'm not going we've seen christine legarde the i.m.f. boss now saying actually i'm not going to if mr i mean you should find choose his thinking and pulls the plug on his flight to riyadh how big will that be. it will be very significant but as it stands right now what we're hearing is that he is still on track to attend that saudi investment conference in spite of the fact that a growing list of not just government officials but around the world but also top executives say that they just can't be a part of that conference is certainly is notable that he said he expected that he would if there was some sort of information that would change that calculation for him that he would make that decision by the end of the week but again it seems difficult for them to secure that timeline given the fact that there are still so many missing pieces of information we should point out something that we have learned here us stateside is that u.s. intelligence in the meantime is preparing for the president an intelligence brief on the crown prince now

was christine legarde today makes veiled threats against trump trade policy joining me now to discuss it is a former clinton.

chief christine legarde. what it is tempting to be a bit depressed about this perspective i am actually hopeful because there is a clear up or tight to improve and expand trade think of the flurry of welcome discussions and proposals to strengthen the w.t. you all think of all the new trade deals such as d.p.p. eleven. the regional african trade agreement and the progress made on the us mexico canada deal. progress in some areas yes but all this against a backdrop of a trade war between the united states and china. the world bank had a sober message about it had a tit for tat tat response between the world's top two economies could top the contagion effect. protectionist trade policies can cause a chain reaction as more countries adopt similar measures. the global recovery is built on investment and there's a real danger that businesses will decide to wait for more clarity before engaging in new projects ten years after the last global financial crisis there's a whole new set of risks to the world economy. wh

and dutch finance ministers and the british trade secretary the international monetary fund's christine legarde is also out as are the c.e.o.'s of j.p. morgan chase were at the blackstone group a u.s. based financial services company and media partners have also withdrawn including c.n.n. si and d.c. the financial times in new york times and the los angeles times france has suspended political visits to saudi arabia other e.u. leaders have also voiced concern jonah hall has the latest from brussels. if there's been concern about a slow response by european nations at a political level to the alleged murder of jamal kershaw g. well that may be changing britain france and the netherlands of all announced that they're withdrawing their ministerial level delegations to that financial investment summit of davos in the desert as it's been dubbed citing that now is simply not the time for that level of engagement this was what french president emmanuel macron had to say. leafy. the facts we know today are mr g. string the serious and worrying we expect is fairly light on this matter we have had exchan

four earthquake the indonesian president saying that winter is coming and as i'm sure you saw christine legarde saying g.d.p. is probably has peaked it's going to be in decline so it's helpful to see around the corner you know like the g.p.s. on your car says objects on the road it's really helpful to see those things well in advance as opposed to as they say just throw the dart and hope you're going to go to heaven after you make all these profits well we need those objects on the road to be larger like the mirror is saying that's why we have experts on like you john who can try to bring those into focus for us finally john let's go telecom verizon reported today what's up with them. growth cost cutting no rollout of the five g. let's recognize that they're kind of like the last line of old companies that hasn't changed and they're not doing any market deals in the works so they're sticking to their knitting and trying to become as efficient as possible i noticed that they actually took some of the a t. and t. customers are really talking about that a little bit later with holland cook on the

saying i'm not going to davos in the following the french following the dutch following even christine legarde the i.m.f. boss as well but does that go beyond symbolism and once once the dust settles in a week or a month the real impact of that is what well i think once the dust does settle down the road and it could be in the next few weeks or next month you'll start to see a normalization of relations but the european leaders did make it take a strong stand on this something we haven't seen from the trumpet ministration just yet some u.s. businesses yes but not the actual u.s. government and it does say a lot about being on the right side of history to correspond to their own stumble to make the point that they got two scenes of investigation and they found quite some evidence between the consulate and the consul general's residence there.

fund is the latest big name to pull out of the saudi conference dubbed divorce in the desert christine legarde is postponing a trip to the middle east which was due to include the beating of major investors in riyadh later this month but god has said that she's horrified at khashoggi his disappearance. a twenty five year old palestinian man has been killed three others injured after israeli forces launched airstrikes on gaza the israeli military says that it was targeting suspected hamas positions after rockets were fired into southern israel from gaza israel's defense minister ordered the closure of the areas and abu salaam crossings following the attacks are a force of reports from west to receive them. well israeli response to this strike on bush is underway as strikes have been taking place through the night and into the morning on wednesday no comment yet on the number or the nature of the targets israel just saying that it is attacking what it calls terror targets in the gaza strip one person so far reported killed israel saying that that was during the course of another attempt to fire