i spoke with jim o'neil about russia's slowdown.t management chairman says he does not expect the slowdown to continue. >> the indicators are much bigger than i thought they would have been 13 years ago. yes, they have had two disappointing years. as has brazil. ofi put in the perspective where i thought it was coming from, this is not what i'm thinking about in the next few months. >> let's move on. 15 million cups of coffee with served up. we spoke with a london and paris --ff for -- paris stuff barista. >> they say, how did you do that? his technique and practice, really. a name is adam and i am barista. >> i have been making copies for five years. it comes down to the beings, the machine. experience. it, it isee people do almost a muscle memory. mixed the froth into take this andt mix it with the coffee. put a base down. then you can pour your -- whatever you choose. that is how you keep the milk. how you pour it. no more than that. that is just hot melt. -- milk. >> more coming up on the coffee business in a few minutes time. i

bloomberg said alan jim o'neill, -- sat down with jim o'neill for his outlook. >> the slowdown with chinahing to focus on. by and large, i'm in the camp where it is sort of all deliberate and quite manageable, but every now and then i think it is getting out of hand and the chinese are losing a bit of control. given the global relevance of china, in many ways i would say that is the single most important thing. >> i am back with mario gabelli of gamco, and you will be taking a tour of asia. would you agree with what jim o'neill said? >> there is a $77 trillion gross world product. europe is 23%. the united states is leading three percent. -- 23%. china is an important element. what you saw in a balance of trade numbers, we are starting to buy more than we did before, exporting less, even though the dollar is weaker. on balance, the united states is the driver, and companies here -- what do china ash what does china need -- infrastructure, water, energy. the concern you have is they managed the downcycle. >> you have confidence and managing the downcycle well? confidence onee way or the ot

yes, jim o'neill saying it was a crucial jobs reading. handle on whether we can put aside the weather effects of q1 and see a pick up in q2 and into the final second half of 2014. the other thing, of course, is how will fed policy, monetary policy continue to impact both the economy and the markets? listen in to what some of our guests have been telling us this morning. >> yellen is probably more dovish in spirit than our predecessor, bernanke. and i think there is some increase in concern i smell at the fed that we don't want to support yellen as above all being -- >> the world is worried about it, increase the strength of their own economy rather than so much worry about the external effects. it's good news. >> we are going to have this fluctuation, both at the federal reserve level and at the market level because it is no theoretical -- on how to get out of here. all the papers that were written for the last 15 years, say qe is a good thing to do. it's great for the recovery. they all tell us how to get in, but none of them tell us how

i do not know if that is a leading or lagging indicator or what. >> that was jim o'neill speaking tous from the shores of lake cuomo. willeaking of which, we head back there in a few minutes time for a bloomberg exclusive. you are looking at live pictures. it does look a little bit misty. i am sure it is not too bad. >> there you go. you will hear from the real ruby need. find out -- from no real you -- nouriel roubini. ♪ >> you are looking at live pictures coming to you from the shores of lake cuomo. of aorkshop is something honeypot for economists and business leaders as they travel to the italian lake erie -- the italian lake. francine and i were reminiscing about when we were fortunate enough to attend this event. >> it would probably be best to get us out there. >> we would not want to miss it. nouriel roubini, let's take a listen at what he had to say about the ecb and the eurozone. the eurozone is one or two shots away from deflation. cuts, a negative deposit rate, credit easing. it will be the most effective to try to weaken the value of the euro over relative to what it shou

jim o'neill commented on that over the weekend. >> the india one this weekend is obviously a big oneor them, whether they can get more decisive leadership. havedia's case, what they missed is decisive leadership. leading a modi coalition government, it could be effective. i look for better things out of india, at least. >> international investors hoping so. certainly, we have seen markets rally in recent weeks on the bet will have a pro-business platform. it remains to be seen whether voters in india will buy into his vision. >> under the congress party, there have not been the kind of changes and jobs that people have wanted. tell us more about the candidates and their platforms. >> let's start with mr. modine. -- modi. minister ruling in a state since 2001. he campaigned on a pro-business but for, saying he would return the economy to 8% growth. competitor,is his saying that he would spark economic reforms. there are a lot of concerns. the handling of the riots in his home state that killed about 1000 people, mostly muslims. that alienated a lot of people and cost him some support.

. >> i suppose we can give jim o'neill a bit of an easier time about not having done anything for thefew years. katie, great having you with us. great conversation. head of portfolio divisions over at goldman sachs asset management. . coming u is it really that good a statement for real? -- for rio? ♪ >> i'm manus cranny in london. this is "on the move." the first quarter iron ore production has hit a record. it is still below what analysts were estimating. jesse rhines burg joins me for a little bit more. i've heard you describe him as being iron ore man based on today's reports. high is -- how is iron ore man doing? no real surprise that rio has been investing in their operation for some time. we'll be more of a concern for investors would be that quarter on quarter some of these numbers up and down. >> it has to do with the weather. quarterone is a tough weatherwise. >> always a tough quarter in australia. by the big miners up there reporting tomorrow. we'll see similar impact on the numbers. >> was anything in this report as you look through it. this is something you want to get e

. >> jim o'neill. jim glassman, this goes to the real economy.get so much mail saying jim glassman has it wrong, it's not getting better, we don't feel it out here, out there. why is that? reminds meeople, it particularly in many parts of the economy, it is like being in new orleans when mississippi is flooding. it comes to you last. look at the stock market. when the market is at an all-time record high and businesses are generating there isl profits, steady progress, but i don't think people feel it until it is touching them. >> if a multiplier effect in place and things will improve. >> they are slowly healing. we are only in the fifth year of recovery. we may have another five years. there are a lot of people not touched by this yet. >> jim glassman. so-called admission rate will surprise you. ♪ >> new york could barely sleep last night. the yankees won. >> we're so thrilled. it means we will win the world series. beautiful april morning in new york. the reds are red because the red sox have opening day at fenway. our 29threat view from floor

not so fast says economist jim o'neill. >> if we're going to have a global bull market this year, it's going to be led by something other than the u.s. it's possible but i'm not so sure about the u.s. sustaining leadership. >> so is mr. o'neill right? if you think he is, how do you play it? jeff and jim are in chicago. good to see you, guys. jim, is he right, do you think? >> no, i actually don't think he's right. i think the prospects for a longer term bull market in the u.s. are fine. today, by the way, worries me for the shorter term. on top of what bob pisani said, bob said it was a good economic number. not only was it a good economic number, it was really arguably the perfect number for the stock market being that it was relatively good and wage growth was low, meaning that the fed doesn't have to step out of the way any quicker than they had already planned. this is a perfect number for the stock market. the fact it's getting the heck beat out of it means there are other factors at work right now. in the short term, i'm a little bit worried. if the weekly bar chart closed lower

if you listen to what jim o'neil, the former goldman sachs manager, the father of the term, weerm -- brics interviewed him over the weekend. hear his thoughts. >> in india's case, what they have missed is decisive leadership. leading amodi coalition government, i would look for quite a lot better things out of india at least. l and the rest of the investment community watching. it is a big deal. >> that is one of the protagonists, narendra modi. also the other one in the right the -- out of the gun gandhi dynasty. >> 43 years old. he represents the congress party, the prime minister's party. it has suffered a defection of voters, this because of corruption issues, grafts. he is pledging 8% gdp growth. that is a tall order. it is also promising expanded access for the poor to health but, affordable housing, indeed he must overcome the congress party's reputation for scandal. the opposition, as you pointed years olddra modi, 63 -- >> a controversial figure when it comes to a secular state given some of the things he has been accused of in gujarat. in 2002, and it alienated a large fort

. >> jim o'neill is at the top of the list. nothing to do. bloomberg news contributor.l one are watching, 800 wayne rooney and fix this. that is all there is to it. time for morning must reads. >> i am going to go with morning must reads. former supreme court justice, sandra day o'connor. millions of students taking the sats will now encounter tests like the declaration of independence. old test prep methods will not be sufficient. they will need more sophisticated tools. digital technology will be essentials. a marrying of digital. this is about what you write in your legendary notes. critical thinking skills. how did you pick them up at carnegie mellon? >> i was taught to doubt everything to learn the truth of it. sounds crazy. it makes your brain work harder. i would like to know if maybe we should all take it again as adults to see how we would do. >> stop. you would get 800. would we do? how good is the critical thinking is the question? >> you have to fight. >> for those of you taking the sat -- [inaudible] trigonometry. >> i like it. talking banks with robert. ♪