announcer: next, a conversation with the managing director of the international monetary fund, who spoke at the annual wall street journal ceo council. >> she is the managing director of the international monetary fund speak at the annual ceo council meeting in washington, d.c. give us a primer on the u.s. economy talking about the international economy. kristalina georgieva is the managing director of the new chief of the imf. let's see what her prognosis is for markets outside the united states. [applause] >> happy to have you here. let's get right into it. we had an upbeat view of the us economy and complaints about the global economy. let's start with the u.s. despite everything we have seen a slowdown in us growth this year and a slump in manufacturing, decline in business investment. from your perch, what is your outlook for the us economy in the coming years? >> the us is in a good place. people in this room have contributed to that, the longest in history, expansion, lowest in the last 50 years. to see that wages, and low-paid workers out facing wage growth on average driven by p

political paralysis is the country ready to devalue its currency as it seeks the support of the international monetary fund. when a prime minister takes a lump of coal into his own parliament as a peculiar form of show and tell you can be sure of a couple of things one that call means a lot of the country's fortunes and 2 there is going to be some controversy about it and so it is in australia where prime minister scott morrison went into bat for the country's 2nd biggest export which has to be fair help destroy the economy avoid a recession for the last 30 years but then he also went on holiday while his nation burned in some of the worst bushfires ever seen. now put the 2 together and you arrive at climate change arguably the cause of the fires and the results of these carbon producing industries like coal so let's start with the numbers you know in 2018 the value of astronomy in coal exports was $67000000000.00 that number is equivalent to 3 and a half percent of nominal g.d.p. the industry directly employs a quarter of a 1000000 people and many more through support services and related businesses but s

real to stain for the government now lebanon may be forced to seek help though from the international monetary fund as the political and economic crisis escalates it may also need to reconsider its 23 year old currency pegged to the dollar as its debt becomes unmanageable how unmanageable will lebanon's debt to g.d.p. ratio is under 50 percent or more worryingly the 3rd highest in the world and is $1200000000.00 in debt stude be repaid in march there was a plan to delay those but it's been pulled after the credit ratings agencies said lebanon would be in selective default in total it needs to repay or issue more debt to cover a 2 and a half $1000000000.00 euro bond this year let's talk more about this now in beirut is job he is an associate professor of economics at the american university of beirut and it's great to have you with us lebanon now does finally have a government after months of paralysis what have you made of the promises made by the new prime minister with regards to fixing the root of all the problems the economy. you know the promises are still very general in my opinion and. you k

the top 5 a long time global risks the business leaders investors and policymakers the international monetary fund is calling for action and a multilateral cooperation between countries. the countries need to cooperate on multiple fronts to raise growth and spread prosperity we need to reverse protectionist trade measures a result the impasse over the world trade organizations appellate court must adopt strategies to limit the rise in temperatures of the severe consequences of weather related natural disasters a new international taxation regime is needed to adapt to the growing digital economy and to curtail tax avoidance and evasion while ensuring that all countries receive their fair share of tax revenues the protesters are calling on well datas to do more to tackle climate change hundreds of activists marched for 3 days in switzerland towards us they say there is attending the meeting are largely responsible for the climate crisis where our diplomatic editor james bay is also in davos james i see that reza 10 bagger has been given top billing at this year's where it seems that there's been a s

very distinguished body as well as our european allies throughout the world as well as the international monetary fund. vice president biden did not remove the corrupt prosecutor, ukrainian government did. with the support of the free world. nonetheless on october 3rd, 2019, when a reporter asked donald trump what exactly did you hope zelinsky would do about the bidens after your phone call he responded as follows. >> what exactly did you hope zelinsky would do about the bidens? >> i would think if they were honest about it they would start a major investigation into the bidens, very simple answer. >> start a major investigation into the bidens. the evidence of wrongdoing by donald trump is hiding in plain sight. during the july 20 fifth call, donald trump also repeatedly pressed the ukrainian president to coordinate with his personal attorney, rudy giuliani. why was rudy giuliani's name mentioned multiple times during the july 20 fifth phone call? he is not the secretary of state. he is not and ambassador. he's not a member of the diplomatic corps. rudy giuliani is a cold-blooded political operative

it was agreed that white would chair commission one, which created the international monetary fund, while keynes would chair commission two which created the world bank. but while the anglo-american alliance commanded the proceedings for the next three weeks in july, the realities of the interaction between economics and empires actually shaped the outcomes more than their best laid plans. foremost was the financial realities of the united states as a creditor nation, and britain as a debtor nation. although keynes was personally treated as a rock star conference, the less charismatic word controlled the most important proceedings in shaping the international monetary fund, which clearly emerged over the world bank as the more powerful monetary institution. keynes, you can see him at the theof the table, knew temper of the conference and that there was opposition to his idea of the international currency. however, whitehea whitehead deliberately inserted in that draft a benign phrase "gold and gold-convertible exchange whenever a particular unit of account was needed." the key moment that

this is a president ahead of the international monetary fund, ahead of the world bank. any other organization in the country and the world saying we are going to have balanced trade. we are going to have reciprocal trade. and he has gun now to balance international trading relationships with china. usmca, and let's not forget the trading agreement with japan and south korea. this has been a spectacular demonstration of a man leading all the major financial institutions as well as the regulatory and intermediaries around the globe. >> you are 100% correct. the president has been very clear. he wants free trade, but it has to be free and fair and reciprocal. our markets have been open to china and theirs have not been open to us. this phase one agreement is about rebalancing it. lou: i once had a discussion with larry kudlow. i never heard the president talk about free trade. i heard him talk about fair and reciprocal trade. free trade coul connotes 50 yeaf consecutive trade deficits. i haven't heard the expression free trade for months now. until the deal is done. now it

and the international monetary fund has cut global growth estimates for $220.00 the leader of the i.m.f. isn't davos for the world economic forum to discuss the i.m.f. reports that compared to the reporting of tobar estimated global growth for this year is down 110th of a percent to 3.3 percent growth one of the major reasons for the dip in projected growth includes a slowdown in. it is the world's most expensive real estate market but prices in hong kong are now under pressure after months of protests there. experts warn against too much optimism. hong kong's real estate market is the most expensive in the world after months of democracy protests real estate prices in hong kong are falling this tiny shop of less than 2 square meters in a crowded corner of one shy is a powerful symbol of change former investment banker turned property fund manager edwin li explains. this is this shop that very much to pay so based on my best lot of shared memory the shop lost the most money in the store was once a currency exchange kiosk but the tourism downturn means it's now a real estate office bough

by professor kenneth rogoff is a professor at harvard university the former chief of the international monetary fund and a former chess grandmaster i hope i haven't missed anything but mr rudolph let's jump right in let's start to with this saw with this announcement by black rock and their $500000000.00 equity fund is that a lot of money it doesn't sound like a lot of money for the things they're trying to achieve. was it actually 500000000 not 1000000000 that is not a lot of money but of course there are tremendous pressures from their stakeholders from society for them to do something and there's a market for it i don't think everyone's going to suddenly do that but they carve out their own brand and there are a lot of protests around at harvard the students sat down and blocked the harvard yale game in the middle of the game wanting divesting of. energy firms and such so you know they're responding to that indeed they are but who is really leading the charge here is so you have the blackrock of make the announcement that they were putting sustainability at the core of their strategy now germany

>> next, a conversation with the managing director of the international monetary fund who spoke at the annual wall street journal ceo council . >> larry gave us a good primer on the u.s. economy, began talking about the international economy. let's take that a step further and ask kristalina georgieva to join us. she is the new magaging director to the new chief of the imf. let's see what her prognosis is for your markets outside of the united states. [applause] >> hello. welcome. so happy to have you here. so, let's get right into it. we just heard a very upbeat view of the u.s. economy and complaints about the global economy. let's start with the u.s. despite everything mr. kudlow just said, we have also seen a slowdown in u.s. growth this year and a slump in manufacturing, a decline in business investment. from your perch, what is your outlook for the u.s. economy in the coming year? >> well, the u.s. is in a good place. and people in this room have contributed to that. what we lave is the longest in history, expansion, lowest in the last 50 years unemployment. what we value particu

the international monetary fund has cut global growth estimates for 2020 the leader of the i.m.f. in davos switzerland for the word economic forum today to discuss the world economic outlook the i.m.f. reports that compared to the outlook report in october estimated global growth for this year is down 110th of a percent to 3.3 percent growth one of the major reasons for the dip in projected growth includes a slowdown in india. well ahead of the forum which kicked off today american money management firm blackrock has grabbed the attention of the finance world its c.e.o. larry fisk announcing the company which quote exit investments presenting a high sustainability related risk of 4 starts divesting hundreds of millions of dollars from coal lng to businesses and that could be a big deal black rock is the world's largest fund to manage it holds close to 7 trillion dollars in assets and to put that in perspective germany's entire economic output for 2018 was closer to 4 trillion dollars managing that amount of money means a correspondingly high level of influence in the corporate wor

the international monetary fund has cut global growth estimates for 2020 the leader of the i.m.f. is in davos switzerland for the world economic forum today to discuss the world economic outlook the i.m.f. reports that compared to the outlook report in october estimated global growth this year is down 110th of a percent to 3.3 percent growth one of the major reasons for the dip is projected growth includes a slowdown in india. and now to some of the other business stories making news. the friendship build. to cast one a 2000000000 euro contract securing its future for the next 7 years the firm signed a deal with fellow french m m s c cruises for 2 brand new ships the new linus will be delivered in 20252027. china is calling on canada to release the detained hugh away executive making one sure mang was arrested over a year ago and is charged with bank fraud for misleading the bank h.s.b.c. about your ways to tease in iran extradition hearing where she'll fight american efforts to have her brought to there for trial is scheduled to begin today. here on mosque space tourism company s

in the guardian business pages, kristalina georgieva, the head of the international monetary fund, has said raising income tax on the wealthy will help close the growing gap between rich and poor and can be done without harming growth. with me is dr stephanie hare who's an independent analyst covering politics and economics. bbc online talking about the iran attack. all this has been emerging overnight. swift response from iran. this is in response to the american attack on the iranian general qasem soleimani last week and we have been waiting for what iran's response will be, they launched some missile attacks on two us bases in iraq. we have no word from the pentagon on whether or not there were casualties. donald trump is expected to make a statement later today, but he did tweet, saying that the united states has the best military in the world and all is well. so, watch twitter! but more seriously, what we are looking for now from a business perspective at least as the market reaction, the effect on oil, so we are seeing a the price of oil. the price of gold has gone up to a high s

in the guardian business pages, kristalina georgieva, the head of the international monetary fund, has

the international monetary fund has cut global growth estimates for 2020 at the world home forum i.m.f. chief. says the organization estimated global growth for this year at 3.3 percent down 110th of a percent from october projections. mr judge cited increased risks over growing tensions with iran the us china trade war and weather related disasters as reasons . it is the world's most expensive real estate market but prices in hong kong are now under pressure after months of pro-democracy protests and while some losses are surprisingly large experts warn against too much pessimism for buyers. hong kong's real estate market is the most expensive in the world after months of democracy protests real estate prices in hong kong are falling this tiny shop of less than 2 square meters in a crowded corner of launch is a powerful symbol of change former investment banker turned property fund manager edwin li explains. this is this shop that very much to pay so based on my best lot of shared memory the shop lost the most money in hong kong the store was once a currency exchange kiosk but the tou

at the urging of the united states, the european union, the international monetary fund all urge the ukraine government to dismiss mr. viktor shokin. the second character succeeded mr. viktor shokin as prosecutor general. he also proved reluctant to prosecute corruption cases and several witnesses testified that he also had a reputation for dishonesty and corruption. ambassador yovanovitch and deputy assistant secretary george kent both testified that the u.s. embassy and give eventually stopped working with him altogether. viktor shokin, lutsenko, and mr. giuliani interests were all aligned. the role of vice president played in his 2016 firing. the vice president carrying out u.s. policy urged the ukrainian government to dismiss the corrupt viktor shokin. i note that the vice president -- the former vice president has been criticized for urging that he be fired. lutsenko found his career trajectory fading. and what did president trump support to boost his political prospects of ukraine? mr. giuliani needed partners in ukraine willing to announce two sham investigations used to boost

the international monetary fund is ready to leave greece for good. closing its office. repaid some of the ipf -- i met. it plans to pay more this year to prove the crisis is really over for good. global news 24 hours a day, on-air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. nejra: thank you. carlos ghosn has leveled a blistering attack on nissan, accusing the japanese carmaker of scapegoating him to block further integration with french partner renault. for the latest, our anchor joins us live from italy. great to have you with us. what exactly has carlos ghosn been saying? yousef: it was a surprise. the timeunting down until the press conference begins later this afternoon. the defense team released a statement from him overnight. it gives us a flavor of what to expect. saying that nissan came out with a gross mischaracterization of the truth, gross perversion is what they described it as. carlos ghosn adding that nissan sought anever interview with him during the investigation. this s

obviously not least, and under person -- important purse or -- managing director of the international monetary fund. please give a big hand to this really, really excellent, excellent panel. so, i would like to start with you. you just issued it up to the global economic a look. so, tell us where you see the world economics in 2020. but you have only three minutes. i understand we might take 30 or 40 minutes here. >> it is a message that can easily be summed up in three minutes. we are in a better place in january of 2020 than we were in october of 2019 during our annual meetings. we are projecting growth this year at 3.3%, next year 3.4%. this is clearly an improvement vis-a-vis last year's record low of 2.9%. what is driving this positive momentum are three things. one, trade relations are receding. the signing of the u.s.-china trade deal creates more confidence. we know that uncertainty there was a drag on investments. two, central banks. we have great representation here. it has served the world well. synchronized tax cuts have given a boost to growth, and we actually calculated the size of th

but not least, kristalina georgieva, i hope i pronounced the name well, president of the international monetary fund. an excellent panel. i would like to start with you. you just issued the updated global economic outlook. where do you see world economics in 2020 and beyond? you have only three minutes. i understand it takes 30 or 40 minutes. [laughter] >> it is can easily be summed up in three minutes. we are in a better place in january of 2020 than we were in october of 2019 during our annual meetings. we are projecting growth this year at 3.3%, next year 3.4%. this is clearly an improvement vis-a-vis last year's low of 2.9%. what is driving this are three things. one, trade relations are proceeding. the signing of the u.s.-china trade deal creates more confidence. and we know that uncertainty was a drag on investments to central . two, central banks. we have great representation here. it has served the world well. synchronized tax cuts have given a boost to growth. we actually calculated the size of this boost. half a percentage point from last year to this year. what is very important to recogn

in 2016 at the urging of the european union, the international monetary fund and united states government, the parliament of ukraine voted to remove mister shokin because he was corrupt. at the urging of theunited states , the european union, the international monetary fund alters the ukrainian government to dismiss mister shokin. the second carry her is yuri lutsenko. he proved reluctant to prosecute corruption cases and several witnesses testified that he also had a reputation of dishonesty and corruption.ambassador yovanovitch, deputy assistant secretary george can't both testified that the us embassy in kyiv should stop working with mister lutsenko altogether. shokin, lutsenko, giuliani. the goals of all three characters are outlined. shokin had it out for vice president biden because of the role the vice president played in his 2016firing . vice president, carrying out us policy urged the ukrainian government to dismiss the corrupt shokin. i note that the vice president, the former vice president has been criticized for urging that he be fired. lutsenko found his career trajectory fa

the international monetary fund's new managing director chris to lead out he'll give a has described the global outlook as precarious trade tensions could cut global economic growth by north point 8 percent or $700000000000.00 now that's roughly the size of the swiss economy central bankers have been pretty clear that any slowdown this year would require governments to step in with stimulus packages why well because monetary policy that is interest rates and quantitative easing is that the limits of what can be achieved and there are so many variables the u.s. election a lack of leadership as the united states steps back on the world stage and climate change and if 2019 is anything to go by we'll see more protests over a sterile of the economic model that has led to wage growth stagnation over the last few decades. we've got together a panel of experts to cost over the year ahead and to give us some insights as to what to expect joining us here. in doha i park on who's senior director of asset management to our right investment bank. condo who's the residence professor at northwester

. ♪ >> next, a conversation with the managing director of the international monetary fund who spoke at annual wall street journal ceo council . >> larry gave us a good primer on the u.s. economy, began talking about the international economy. let's take that a step further and ask kristalina georgieva to join us. she is the new magaging director to the new chief of the imf. let's see what her prognosis is for your markets outside of the united states. [applause] >> hello. welcome. so happy to have you here. so, let's get right into it. we just heard a very upbeat view of the u.s. economy and complaints about the global economy. let's start with the u.s.

the european union, our european allies, the international monetary fund, reformers inside ukraine also wanted mr. shokin removed to reform the ukrainian prosecutor general's office. to reform it. reforming the prosecutor general's office was also supported on a bipartisan basis by the here in the senate. on february 12th, 2016, after vi of mr. shokin, but before thehim, a bipartisan group of senators, including senators portman, durbin, shaheen, ron johnson, murphy, kirk, bloomberg and sher rod brown, sent a letter to president pofto urge him to mak changes. the month after the senator sent that letter, mr. shokin was fired. he was fired. so let's be very, very clear. vice president biden called for the removal of this prosecutor at the official direction of u.s. policy. because the prosecutor was widely perceived as corrupt. and with the support of all our international allies. his actionswere, therefore, supported by the executive branch, congress, and the international community. common sense would tell us that this allegation against joe biden is false, and that there was no legiti

person, kristalina georgieva -- i hope i pronounced the name well -- managing director of international monetary fund. welcome to this really, really excellent panel. so, madam, i would like to start with you. and you just issued your updated global economic outlook. so, tell us, where do you see the world economy in 2020 and a little bit go beyond? but you have only three minutes. i understand it would take 30 to 40 minutes. >> it is a message that can easily be summed up in three minutes. we are in a better place in january 2020 than we were in october 2019 during our annual meetings. we are projecting growth this year at 3.3%, next year 3.4%. this is clearly an improvement vis-a-vis the record low of last year of 2.9%. and what is driving this positive momentum are three things -- one, trade patients are erreseeding -- the signing the u.s./china trade deal creates more confidence, and we know that uncertainty there was a drag on investments. two -- central banks -- and we have a great representation here, has served the world well. the synchronized back cuts have given a boost to growth, and we ac

matter of time before everything crashes don't take my word for it take the one from the international monetary fund new research shows that inequality tends to increase before a financial crisis signaling a strong link between inequality and financial stability if we act and act together we can avoid repeating the mistakes of the $920.00 s. in the 2020s so as the world's elites are skiing past their luxury is resorts in the alps it feels like the rest of us are. blindly led off a cliff the kinds of inequality. is responsible for example for many deaths that did not meet up with the poor of the world the ones that are only able to get by are the ones who died early. and if you live. in the quality of staggering and on and for really economic development for everybody. here secretary of state has met with one guy doe and colombia warning that washington will increase its support for the man who proclaimed himself interim president of venezuela last year called for cooperated to remove acting president nicolas maduro here to try. to do everything we can sure that you give them an opportunity to get a

ros: recently the international monetary fund warned that these tariffs between the u.s. china are hurting business sentiment and confidence globally. let's hear from the bbc asia business correspondent who is in singapore. >> what companies want most from beijing and washington, end ohe uncertainttrade war has created. business confidence has fallen and companies are holding back on investments and new jobs because they are not sure what is going to happen in the future. so a truce is definitely positive for now, but it will not make thatuch of a difference on the ground unless tariffs on both sides odme down for ros: t reporter with associated press puts it this way, u.s. and china signed an initial trade deal aimed at easing tensions, helping u.s. farmers, and thorny issues left for fute talks. tim stratford is a u.s. trade lawyer based in china, former u.s. trade representative. here he is on some of those thorny issues. >> to what extent should the state be involved in the economy and to what extent should companies receive subsies? china has found this approach has

she is the first woman to lead the international monetary fund woman to behe first elected presidentpean central bank. she is one of the three most powerful women on the planet. i sat down with christine lagarde in new york a month

agreements like the north american free trade agreement, nafta, finance institutions like the international monetary fund, the i.m.f., or the world bank, these are sets of rules with international enforcement that have been set by one set of authors. now i suspect if i was at the table and a handful of you who care about human rights, labor rights, the environment, food security development, we were all sitting down writing the rules, we'd have a rather different set of rules. because the thing that folks need to know and this is one thing we found in our book, this is the world trade organization agreement. people think, you know, it's some inevitable thing, maybe moses actually got it down mount sinai direct from god. it could be like that. but, no, in fact, it's 900 pages of rules and regulations written by whom? well, ostensibly, my country's trade negotiators. in fact as our research found and we have this documented in the book at the time it was being negotiated or its evil small sister nafta, 800 more pages of specific rules and regulations, nothing inevitable here, my book would be very differen

that is according to the international monetary fund.t predicts growth of 3.3% for 2020, down a 10th of a percentage on its projection in october. still a gain on 2019. the imf is cautiously optimistic. it says risks are now less skewed to the downside. china, a new stage of severity. beenalth workers have infected, one critically ill, after the world health organization confirmed person-to-person transmission for -- four people have died so far. 17 years ago, the sars outbreak killed around 800 people. and in the u.s., senate majority leader mitch mcconnell is planning a tight timeline for president trump's trial. on air and at quick take powered by bloomberg. this is bloomberg. thanks very much. tom mackenzie in beijing. let's get back to the world economic forum. francine lacqua is there again with another guest. >> joining us now is the executive director of the iea. we want to talk about renewables. we want to talk about the oil markets. will they balance because opec will comply and because in general geopolitics will take the stea

matter of time before everything crashes don't take my word for it take the one from the international monetary fund our new research shows that inequality tends to increase the for financial crisis signaling a strong link between inequality and financial stability. if we act and acts together we can avoid repeating the mistakes of the 9020s in the 2020s so as the world's elites are skiing past their luxury as resorts in the alps it feels like the rest of us are being blindly led off a cliff kinds of inequality. is responsible for example for many deaths that did not mean that rap or the poor of the world the ones that are only able to get by are the ones who die early and you little cause of inequality staggering and or anchoring economic development for everybody. the u.s. secretary of state has met with one in colombia saying washington will increase its support for the man it now backs as venezuela's president might compel cooled father cooperation to remove incumbent president nicholas mr. we're here to ensure they're able to do everything we can assure that you give them an opportunity to get

but with the international monetary fund yesterday downgrading their outlook for growth this year andis very much at the heart of discussions at the world economic forum, for many leaders it is about bringing up investment and the challenges they are facing, perhaps the climate agenda is not part of theirs, it is agenda is not part of theirs, it is a concern for these teenage activists here this year. studio: thank you, sally bundock in davos. and we will bring president trump's speech to you live here on the news channel, he's expected to start speaking in just over an hour's time. the headlines on bbc news... it is 9:21am. terror offenders will face longerjail sentences and lie detector tests before their release as part of what the government describes as a major shift in approach. prince harry arrives in canada to rejoin his wife answered after stepping back from royal life. a bbc investigation finds the nhs in england faces more than £83 billion worth of unsettled claims for clinical negligence. in sport, a day of disappointment for british players at the australian open in melbo

matter of time before everything crashes don't take my word for it take the one from the international monetary fund our new research shows that inequality tends to increase before a financial crisis signaling a strong link between inequality and financial stability if we act and act together we can avoid repeating the mistakes of the $920.00 s. in the 2020s. so as the world's elites are skiing past their luxury as resorts in the alps it feels like the rest of us are being blindly led off a cliff we had much ever gets we in the economics profession that the kinds of inequality we see today is responsible for example for many deaths that did not meet that have to the poor of the world the ones that are only able to get by are the ones who die early who suffer from diseases for which we have already the cures who suffer the poor education that keeps them and their children who are so we already know that the social and human costs of the inequality are staggering and are hampering economic development for everybody. here our secretary of state has not with one wideout in colombia warning that washingt