we look forward to hearing your opening comments today, madam lagarde, on the state of the global economy, and how we might best address its most pressing challenges. we at the atlantic council often speak of how we together as the atlantic community, alongside our like-minded global friends, confront a defining moment in history, perhaps as pivotal as 1919, 1945 or 1989 when the decisions of leaders like yourself, and that of the member countries you represent, have outsized importance. so as i turn the podium to you, let me paraphrase clause schwab in thanking you for making all the personal sacrifices that public service requires at such challenging times and using his words, salute your soul, your brain, your heart, and your nerves. madam lagarde. >> well, thank you so much, fred. and i know you're a true friend because you're one of the very few who introduced me without referring to my muscles. because people typically refer to my belonging to the synchronized swimming national team in france. so thank you for that. and don't believe that fred and i always coordinate our colors. but

and they will focus their discussion on the state of the global economy. since our last annual meeting in october, there have been a lot of developments on the global scene. i would say that it has first of all inherited from a big shot in the arm as a result of the decline of oil prices. in addition to that it has had the benefit of a strong economic performance by the largest economy in the world, the united states of america. and overall, we would say that macro economic risks have decreased. so the global recovery continues but it is moderate and uneven. global recovery continues but it is moderate and uneven. in too many parts of the world it is not strong enough and in too many parts of the world people don't just feel it. in addition to that, in macro economic risks have declined, financial and geopolitical risks have increased. it is not that overall growth is bad -- 3.4 in 2014. it is not bad. it is actually in line with the average growth that we have had in the last three decades. so what's not so good about it? what makes it moderate and uneven?

and they will focus their discussion on the state of the global economy. since our last annual meeting in october, there have been a lot of developments on the global scene. i would say that it has first of all inherited from a big shot in the arm as a result of the decline of oil prices. in addition to that it has had the benefit of a strong economic performance by the largest economy in the world, the united states of america. and overall, we would say that macro-economic risks have decreased. so the global recovery continues but it is moderate and uneven. global recovery continues but it is moderate and uneven. in too many parts of the world it is not strong enough and in too many parts of the world people don't just feel it. in addition to that, in macro economic risks have declined financial and geopolitical risks have increased. it is not that overall growth is bad -- 3.4 in 2014. it is not bad. it is actually in line with the average growth that we have had in the last three decades. so what's not so good about it? what makes it moderate and uneven?

the question is will america seize the opportunity and continue to lead in the global economy? the global middle class is expected to grow at more than 200 million people a year for the next five years. that is the size of the adult population of the united states growing year after year. they are going to need smart highways, power plants, bridges, satellite communications consumer goods. the demand will be unprecedented. who going to step into the arena and meet that demand? the rewards are huge. a robust economy. a vibrant manufacturing sector and most importantly, hundreds of thousands of good paying jobs. america can't afford to sit this race out. we need to use every tool in our arsenal to make sure that u.s. companies are able to get into the arena and win. exim is one of those tools. trade agreements such as the transpacific partnership are another. we cannot turn our back on american workers. we have a responsibility as a nation to break down every barrier we can so our businesses can reach the global middle class because every sale an american firm loses out on means t

second option, increasing the role of the special rights as a global reserve the integration of dynamic emerging markets into the global economy. of course, firming up the imf resources which, again relates to the quote at that reform that was intended in 2010. >> as a result of that the international monetary system would be reinforced and become more stable. so that's for the international monetary system. what about the international deed allotment system? well, 2015 is really a very special moment for development and an opportunity to make a tangible difference in the lives of a very large number of people, particularly the poorest. there are three critical issues on the 2015 agenda. one is financing for development, which will be discussed in july, the second is the new sustainable development goals that will be discussed at the united nation in september and the third one is the climate change that will be discussed in paris in december. and they all interlink in many ways. now, the imf will be a committed partner in this effort and i intend to discuss with our membership next week how we can contribute through not nice

there are a lot of concern about the global economy. and the performance between the u.s. economy and other parts of the global economy. >> the secretary also said confidence is up consumers have more cash in their pockets and that he's not concerned about the strengthening dollar. >>> another challenge that does face the u.s. economy is income disparity and today on tax day fast food workers across the country and across the world took to the streets to demand higher wages. in brooklyn new york demonstrators blocked traffic this morning and on manhattan's upper west side they staged a die in. >> if it wasn't for me you wouldn't have your subsidy. >> chicago, washington, d.c. and los angeles were among the 200 plus cities where workers made their presence felt today. consumers could see higher prices if the going wage hits $15 an hour. >> these companies have to figure out how can they ultimately both cover that cost either through higher menu prices or through their menu mix and at the same time try to manage the workforce so that they don't lose workers to someone else an

if we're competitive in the global economy, we need the best educated workforce, we need to encourage kids to go to college, graduate school, regardless of their income. we can come up with that money and that's what i'll be for. >> what's on your schedule the next week? >> speak to the aflcio in new hampshire. we have a brunch in manchester new hampshire. we'll have a national tv show. we'll be working hard in the united states senate on the ranking member of the budget committee. this republican budget is beyond belief. tax breaks for billionaires

rich: the global economy has benefited from oil. would say roughly at these levels, it is in the positive for the global economy. you get concerns about the collapse of the oil patch if it is much lower. if it comes much higher, that was the fed into play. . this is probably a pretty good range for oil prices. alix: it is enough to pick up capex from companies yet? rich: i don't think so, but it may slow down. if we get zero decline in rigs that is probably a positive. alix: $140 billion in cuts? dan: these are phantom cuts. you say you are going to cut. if prices make it worthwhile you say you are not going to cut as much. if you get over $60 and if you get towards $70, you get financially able to hedge against offboard production. then you get to put back into the budget. alix: oil shuts down, prices,. dan: best prices go up. dan: if they get close to $60, we won't see much higher. we are going to see some moves back in oil prices back down into the mid-50's. alix: what kind of volatility is are you expecting going forward? and wha

the costs and benefits but few dispute that globalization is the most profound reorganization of the world since the industrial revolution. the driving foe of globazations economic and at the core of the global economys the global production system. du neng ji makes nike shoes-- one ofens of thousands of nike employees scattered across the world. du neng ji and his fellow workers are a small part of the chinese link in the chain of global production. ( du neng ji speaking chinese ) translator: the reason i came to work here is simply to earn a living. i came from chendgu in sichuan province. i didn't have much of a job back home. i've been working at the number two factory for 2½ years. i feel good about it. my ambition is to become a manager. narrator: most of these workers are like du neng ji. until the factories came they eitheratched out a living fm farming or had no work at all. now life has changed dramatically. ( du neng ji speaking chinese ) translator: although we have to work hard for eight to nine, sometimes ten hours a day, i still feel very happy. i live in a dormitory, but i feel as if i'm living at home. narrator: millions of chinese have left their homes to work in places like guangd

. >>> finance leaders from the group of 20 nations and industrial economies are getting together in washington. they're basically going to discuss the state of the global economy. and ai uchida joins us from the business desk with some details. what's on the agenda? >> the delegates have a lot to discuss. they have greece they have the china-led asian infrastructure investment bank. on the first day they are expected to focus on the challenges facing the global economy. taro aso is at the table. nay will likely tell their colleagues that the impact of japan's consumption tax hike is fading and the domestic economy is on a recovery track. they are likely to take up greece's debt problem and dealing with reform to the international monetary fund. the united states is the imf's largest contributor and congress opposes reform. but china and other emerging nations want a stronger say in the fund's management. >>> most of the members will be a part of the china development bank. the heads of the leading international financial institutions have already come out with their remarks. world bank president said demand for infrastructure improvement is huge in dev

we want to map the global economy digitally. ould require a profile for every member of the global workforce all 3 billion plus people, a profile for every company in the world. there are 70 million companies in the world. we want a digital representation of every job in the world. we would like there to be a digital representation of every skill required to obtain those opportunities and those jobs. presents for every university and higher education organization in the world that offers the ability to acquire those skills to obtain those jobs. we want to make it easy for every individual, every company, every university to share their professionally relevant knowledge in the event they would like to do so. we want to allow capital, all forms of capital and human capital, to flow to where it can best be leveraged and in doing so, the hope is that we can lift and transform the global economy. cory: is that all? that's enormous, jeff. it is wonderfully ambitious. jeff: it is straight it is something we have been talking about for s

talk with the chief of the international monetary fund christine lagarde on greece china, and the global economy's uneven recovery. >> the world is so interconnected that instability in any corner of the world is going to affect all the other corners. >> woodruff: plus, from the pony express to amazon drones, the stiff competition to win over customers that want same day delivery. >> it used to be that waiting seven or ten days was fine. increasingly people's expectations they will get pastor and free delivery. >> woodruff: those are some of the stories we're covering on tonight's pbs newshour. >> major funding for the pbs newshour has been provided by: >> at lincoln financial, we believe you're in charge. you're the chief life officer and this is your annual shareholder's meeting. you're overseeing presentations on research and development, and welcoming new members of the team. you're in charge of it all. lincoln financial is committed to helping you take charge of your future. life, income, retirement, group benefits and advice. lincoln financial. you're in charge. >> supported by the john d. a

think it's part of something which is broader and it's really reflects a new landscape for the global economy. now, what can the united states do to reinforce its natural leadership role in the global economy as well as in the international monetary seen come is to effectively ratify reform which is a governance as well as a quota reform which was engineered by many countries particularly by the united states back in 2010. what does it do? two things. and one it gives a bit more space to the likes of the emerging markets and some underrepresented countries. so that more space at the table. it reduces a little bit participation of the europeans which has been probably excessive relatively to their size in the global economy. so you rebalance a bit less europeans, a bit more energy market economies. you double the quota which doesn't any budgetary implications, because the new arrangement has already been earmarked under in the united states budget. some of it has to be put into the form of quota which gives institutions more stability. so doubling the quota which gives more financial resources

we want to map the global economy digitally. would require a profile for every member of the global workforce, all 3 billion-plus people, a profile for every company in the world, over 700 million in the world, a digital representation of every job in the world, full-time, part-time, for-profit volunteer we would like there to be a digital representation of every skill required to obtain those jobs a presence for every university in higher education that offers the ability to acquire those skills to obtain those jobs, and then we want to make it easy for every individual company and university to share their knowledge in the event that they would like to do so. we want to take a step back and allow capital all forms of capital, intellectual, working, and human capital, to close to where it can best be leveraged. the hope is to lift and transform the global economy. cory: is that all? that is enormous, wonderfully ambitious. >> it is, and that is something that we have been talking about for years. when we first started talking a

and he said if we want to have jobs in america that speak to the global economy. 90 percent of the marketsutside of the u.s. and whatever work you have. you are connected with the global economy. and japan is a tough nut to crack. it is hard to get cars and u.s. agriculture products in japan. the goal is to knock down some of the barriers. but the problem is american automake ares is the u.s. would lower tariffs on the japanese cars and you might get more america cars to japan we'll have more japanese made cars here. and the president said we would be better off than under the current circumstances. >> the consumer market is limited in japan and the american market is growing. like the piece of pope and cuba we look forward to our viewers checking it out. >> trade deals can be interesting. >> it is questionable and an interesting topic and we'll see what the president gets. >> and we'll talk about the unrest in baltimore, schools and businesses closed and tonight's oriole game with the white sox postponed. more on the tense and developing situation in baltimore, next. thank you mom, for pr

oil came down, i was one saying the scale of the decline says that there's probably a bigger slowdown in the economy, which we've seen some weakness in the global economy. now the question is, you have a strong dollar because the fed is likely to normalize rates some time this year, or at least that's what people are expecting, and strong commodities. so, is that a signal that the global economy is starting to pick up again? i'm not in that camp yet. nonetheless, you still look at gsg, that's one that i bought last week, you still have this unwind trade. an unwind trade from these levels oversold with this amount of short interest in oil and in commodities can be a great trade for a while. >> oil equities today. >> trade against $85, which was today's low. it bounced. and just for you potpourri, henry vendell makes unbelievable candles. i'm not kidding around. the number of scents they have are exquisite. >> exquisite! you burn hot candles in your office and have potpourri. >> as often as possible. >> do you have a bubble bath in there as well? >> take a position. netflix upgraded today ahead of earnings next week. we'll tell you how it trade i

have been circumstances in the past in which trade may have contributed to aggregate growth of the global economyr u.s. economy but hurt workers. and we have learned lessons from that and this trade promotion authority, thanks to the work of senator widens and hatch, reflects some of those lessons. now in terms of actually getting a deal done the first trade agreement that we potentially would present would be the trans-pacific partnership or tpp. i have spoken to this before but i will repeat that 95% of the world's markets are outside of our borders. the fastest growing markets, the most populous markets are going to be in asia and if we do not help to shape the rules so that our businesses and our workers can compete in those markets, then china will set up rules that advantage chinese workers, and chinese businesses. and that will set the stage over the next 20, 30 years for us being locked out, us being unable to protect our businesses from discrimination, our agricultural products being excluded from these areas. high tariffs that prevent us from being able to compete fairly. when it comes

we look forward to hearing opening comments today on the state of the global economy and how we mightbest address the most pressing challenges. we at the atlantic council often speak of how we together as the atlantic community alongside our like-minded global friends confronted to find a moment in history perhaps as pivotal as 1918, 1945 or 1989 when decisions of leaders like yourself and that the member countries to represent have outsized importance. so as i turned the podium to you, but they paraphrase clouse raub and thank you for making all the personal sacrifices the public service requires that such challenging times and using his words come to see what your soul, your brain, your heart in your nurse. not in lagarde. -- madam lagarde. [applause] >> thank you so much fred. i know you are a true friend because you are one of the very few who introduces me without referring to my muscles. because people typically refer to my belonging to the synchronized swimming national team in france. so thank you for that. and don't believe that fred and i always scored an eight hour colors.

the secretary spoke about the impact of trade on the global economy and other issues like nuclear proliferation and combating violent extremism. from the atlanta council, this is 30 minutes. [applause] sec. kerry: general jones, thank you for a very generous introduction. more importantly thank you for your extraordinary years of service for our country. you have help -- held so many important positions, working your way from a lieutenant in vietnam all the way to the national security adviser and many places in between. i admire and think the world appreciates the extraordinary contribution to our country's security, i mean that. thank you very much. [applause] the only thing i worry about is the notion of a terrible toll on my health. i feel great, folks. i haven't noticed it. i thought you were going to say a terrible toll on the family. but ambassadors, sirs, madams thank you for being here today. it is an important statement about the importance of this topic that summoning ambassadors -- so many ambassadors are here reflecting their interest in this issue of trade. i am delighted to be he

for more on greece and the global economy i'm joined by my bloomberg colleagues. want to start with you jamie, it seems every time i read the headlines i have to say greece is about to run out of cash. but it's been happening for almost the entire year. when are they really going to run out of money? >> there are a couple of dates. may 12 is the first. the other date is july 20 and that's when greece will have to pay back the e.c.b. 3.5 billion you'res it borrowed. if they don't pay that back their banking will be shut off from the ecb and they have to make a decision. >> what day is this? >> july 20. >> that's still a long way off. >> you'll be hearing it in the headlines for some time to come. >> they don't seem to be doing any of their home work. they come to negotiations. sometimes they are ok. sometimes they are spectacularly bad. but the sense i'm getting is si pruss never does any of the actual footwork that is necessary to stay involved in these talks. >> i think the question is whether they do the footwork when there are large disagreements on the table th

and others like me believe that we cannot stop the global economy at our shores. we have been to be in there and compete and write the rules so we have a level playing field. when we do products made in america services provided by american firms are the best in the world. and i will continue to make that argument and for those who argue this is contrary to the interest of working families what i tell them is my whole presidency texas presbyterian hospital about helping working families lifting wages and giving more opportunity. i didn't get elected because of the sponsorship of the business table or the chamber of commerce. the reason i am doing this is because i know this is an important thing to do and i know it send a signal throughout asia we are out there competing and we will help maintain international rules that are fair for everybody and not so tilted in favor of one country that it ends up being bad for not only our commercial prospects but other countries over the long term. that was a very long answer. sorry mateo. >> very briefly the position in greec

i think what is in our interest is that we along with our allies, we write the rules of the global economy particularly in asia. i think that's in our interest. oh, by the way, if we don't do anything, then this will happen to us. we're either helping shape the global economy or it's shaping us. that's kind of the way i see it. >> i'd like to ask you about another key piece of legislation that could be coming up in the next couple of months. of course referring to corporate tax reform. can you give us a sense as to whether you and your colleagues are working towards a plan that would include changing the tax bases gl this country towards being a territorial one, would include lowering rates an repealing -- all of the work that you've been at work at for several years. is that something we're likely to see as soon as this summer? >> yes. the summer is basically the time we're planning on looking into that. we are talking with the administration. we're trying to see if we can get consensus on tax reform. i'd like to lower taxes for everybody, families small businesses across the board. the p

eurozone member states can this is an intra-european zero-sum game, or against the rest of the global economy at global neighbor zero-sum game. of the kind that we thought was confined to the distant past around the bretton woods conference. the combination of a glut of savings in europe five public and private debts come of low investment, although interest rates and generalized austerity is causing europe to address its crisis by exporting it to the rest of the globe here while undermining further the real economy of its own peripheries vote up -- both other eurozone and peripheries within the eurozone. but simply that current policy is turning europe into a capitalist force that behaves as an exporter of vital savings, an exporter of deflation but even more simply if china's external balance was a problem a few years back i believe there is good cause to think of europe as a graver concern for the global economy. none of these are well either for your poor for the global economy. and unlikely as it may sound at first i submit to you ladies and gentlemen, that the outcome of greece's negoti

for example, corruption costs the global economy about $2.6 trillion each year. have made anticorruption efforts a centerpiece of our foreign assistance strategy. if countries want development compacts from the millennium challenge corporation, they must embrace good governance. through the open government partnership, we are working with more than 65 patients to improve economic transparency. and the department of justice has been first in prosecuting those who pay or seek bribes in international commerce. we also count on american companies to meet the highest standards of responsible business practices. we hold an advantage in the global marketplace because our countries that companies are known as accountable transparent partners. we are developing in partnership with industry a national action plan to promote responsible business conduct and to ensure the american brand in business reflects american values. leading in the 21st century isn't just about the mind of our military, it is about every element of american power, including economic power, to promote

eurozone member states can this is an intra-european zero-sum game, or against the rest of the global economy. at global neighbor zero-sum game. of the kind that we thought was confined to the distant past around the bretton woods conference. the combination of a glut of savings in europe, five public and private debts come of low investment, although interest rates and generalized austerity is causing europe to address its crisis by exporting it to the rest of the globe. while undermining further the real economy of its own peripheries vote up -- both other eurozone and peripheries within the eurozone. but simply that current policy is turning europe into a capitalist force that behaves as an exporter of vital savings, an exporter of deflation but even more simply if china's external balance was a problem a few years back i believe there is good cause to think of europe as a graver concern for the global economy. none of these are well either for the global economy. and unlikely as it may sound at first i submit to you, ladies and gentlemen, that the outcome of greece's negotiations with the

there is a race right now to write the rules of the global economy. the question is who is going to write the rules, u.s. and our allies or china? we need to make sure we write the rules that benefit american workers and american jobs. >> let's remember one thing, greta, 96% of the world's consumers don't live in this country they live in other countries. so if we want to have good-paying jobs and a faster economy, we have to make and grow more things in america and sell them overseas. in order to do that you have to have open trade agreements. without trade agreements, companies end up building factories overseas to sell in those markets. by getting trade agreements, we make things in america and sell them oversees. the countries we don't have a trade agreement with, we have a deficit with them. it means more jobs for americans. >> one issue is the trans-pacific partnership. that's the trade deal. the other issue is how fast it can get through congress, right? >> yes. >> there are two issues on the table. >> so the tpp -- >> nathat's the deal. >> it's

or against the rest of the global economy. a global neighbor, zero-sum game. of the kind that we thought was confined to the distant past around the conference. the combination of savings in europe, of high public and private debts, of low investment investment, of low interest rates and generalized austerity it's causing europe to address its crisis by exporting it to the rest of the globe. while undermining further the real economy of its own peripheries. periphery of the eurozone and peripheries within the states. quite simply, the current policy is increasingly turning europe into a force that behaves as an exporter of savings, an exporter of deflation. even more simply if china's balance was a problem a few years back think of europe as a graver concern for the global economy. neither of these work well either for europe or the global economy. and likely as it may sound at first, i submit to you ladies and gentlemen, that the outcome of greece's negotiations with the imf, the europe l central bank the european commission our fellow europeans, the outcome o

the more global it is the better. and that -- if you can develop a global market that would equate the benefits across different economies. but the prospects are for that i really couldn't say at this point. but just, again, thinking about it from the point of view of global savings, if countries decide to go in that direction it's another opportunity for capital investment, which is part of the issue are there enough good investments to be made. >> okay, maybe one or two more. right there. >> rob dugger. the employment problem has to do something with the capital stock, human capital stock. what we know about human capital stock in the united states now is that the percentage of young adults, 18 to 24-year-olds, 50, 60% or more are not really qualified for most jobs. in fact, it's one of the surprising things, very large number of jobs that can't be filled, 3 million or more in the united states. in your work on both i suspect the secular stagnation must have also something to do with capital stock, labor force quality, competitiveness. have you thought about this or how would you suggest thinking about this aspect of f

whether you're some member states this is an intra-european zero-sum game or against the rest of the global economy. a global zero-sum game of the kind that we have thought was confined to the distant past around the bretton woods conference. the combination of high public and private debts of low investment, blow interest rates and generalized austerity is causing europe to address its crisis by exporting it to the rest of the globe while undermining further the real economy of its own peripheries come at the of the eurozone and peripheries within the dash put simply the current policy is turning europe into a capitalist force that behaves as an exporter of savings and an exporter of deflation but even more singly if china's external balance was if problem a few years back i believe there is good cause to think of europe as a greater concern for the global economy. none of these are well per europe or the global economy. i submit to you ladies and gentlemen that the outcome of greece's negotiations with the imf, the european commission are partners our fellow europeans the outcome of this negotiat

winning the future. >> that's president obama speaking live on the global economy and trade. enator bernie sanders still with us and i want to go back to senator sanders. the favorite bullet point right now is that 95% of the customers are outside the country. now, my answer to that is, their purchasing power in asia is nowhere near a middle class family in america. this asian buying power bullet point the president coming up with is absolute hogwash. it doesn't matter where the customers are if they don't have the buying power or the purchasing power. he talks about values, the president, what he's talking about in values? we've never been able to enforce human rights and any kind of labor rights or worker on the other side of the globe. we've never had that power. the detail has to be given how to do that. what's the restitution? are we going to throw them out of the trade deal? senator, i want your response to where these customers are outside the united states. what about that? >> well you're absolutely right. if people are earning 1 or $2 a day, they'll not be purchasing

job training, financial support and access to health care when they are knocked offstride by the global economy. it is a tough challenge competing in global markets and there is fierce competition everywhere. that's why the package extends the health coverage tax credit and expands trade adjustment assistance to include for the first time service workers in addition to workers in manufacturing. the trade adjustment benefits will be enhanced through current levels and they'll last through 2021. finally, the legislation is going to extend the generalized system through preferences in 2017 in both the haiti hope act and african growth opportunity act will be expanded for a decade. these are important programs. these are important programs that are going to do a lot of work for developing nations around the world. i'm looking forward to a spirited debate to all of these proposals. i know there's going to be many amendments and certainly energetic discussion. i as believe there's a lot of common ground, particularly i'm guaranteeing there are modern trade policies that work for america's middle clas

the u.s. economy over whether the first quarter slowdown. make policy decisions that will boost globalrowth. >> look at the u.s. economy. the strength compared to other economies around the world explains what the card -- currency is. i'm focusing on the need for of economists to be stronger. >> secretary lew will sit down with the greek finance minister for the first time face-to-face. it is time to temp down rhetoric on both sides. >> no doubt if this leads to a crisis such as greece leaving the euro zone it would cause an enormous amount of disruption and hardship on greece. no one should think that all of the risk, change like that is predictable in advance. it would not be in a good thing in an economy recovering from a deep recession. >> a greek exit they worry about as imf world bank meeting get underway. >> you can find more of the interview at bloomberg.com. >> 6:07 a.m. in london new treasury data shows japan has become the biggest foreign creditor of the united states. david inglis is in hong kong. good morning. give us a sense of what this means. >> good morning. it is beco

the global said revenues fell a sign of weakening demand or something else. and 3m cut the full year outlook. together the three companies are sending a message to the markets about the global economy. >> the multi-nationals caterpillar, 3m and procter and gamble all components are feeling theects of a stronger dollar and geopolitical uncertainties. caterpillar beat revenue profits but said it is bumpy. and lower oil prices have cut demand for cats exploration equipment. other sore spots inclu mining hardware locomotives and in china, construction equipment. >> i'm going to be very realistic with you. we'll not repeat this quarter the rest of the year. >> we've seen a real dichotomy here in the world. a u.s. growing fairly slowly but growing steadily and everywhere else there is not much good news. >> in some locations it could get worse because cas yet to feel the full impact of the free fall and petro exam in brazil. >> and there is a manana economy. >> our survey told us that north america will be better than expected. kiwi will make it happen. >> the europe economic stimulus is one reason the dollar has strengthened though and 3m joins the chorus of companies blaming a stronger

economy and it is to this day. it is our politics and it was in 2008 on the bail-out. >> i would just say the president's point that you can't stop the globaly at the water's edge, we're just not going to go there anymore. and the second point which was good one, he acknowledges as i acknowledges the people were hurt by this, if we don't have a level of growth then the whole political economy begins to suffer. when we have no growth the political sector and the political discussion begins to grow embittered. as mark was talking about those who were hurt by trade, if you don't have growth, we're in a very bitter country. woodruff: all right we're going to go to another place where i know you two will be in complete agreement. iran this is very quick how big a concession this week mark for the president to come around to saying i'll do what the congress wants me to do? i'll let them have a say over this iran nuclear deal? >> important concession. but an example of the political process working the leverage process working, large credit goes to bob corker, a republican of tennessee bob cardon, nontelegenic noninterest seeking, a handful of oth

what do you think is the biggest threat to the global economy right now? etween the poor and the rich." "the failure of global central bank and the explosive growth of global debt." "the biggest threat is the lack of growth." that does it for us here on "bloomberg surveillance." thank you so much, josh right of bloomberg intelligence. more from tom keene after the break. ♪ betty: good morning. it is thursday, april 16. you are "in the loop." we are 90 minutes away from the opening bell. blackstone chairman and ceo steve schwarzman joining us. the man behind the world's biggest real estate a management fund. are we hitting a netflix moment in music streaming? competing for your ears. anthony bay joins us for his strategy. the founder of the international law firm weighs in on u.s. politics and her friendship with hillary clinton. what does she think about clinton making a run for the presidency? citigroup releasing their results. scarlet fu has those numbers. scarlet: let's start with earnings per share. citigroup reporting items 152

europe are dealing with struggling economies, aging populations and new competition from emerging nations. the united states and the e.u. represents nearly half of the global economy. a relationship that huge eliminating the trade barriers could bring extraordinarily large benefits to both countries. according to a study by the atlantic council and the british embassy, the agreement would create 740,000 new jobs in america. the trade and services, which we haven't talked about enough, is another big opportunity. a free trade zone for services with 50 countries around the globe, this agreement plays to one of america's strengths. u.s. service companies are among the most competitive in the globe. from the u.s. business community's perspective, the negotiating objectives laid out in the t.p.a. bill are balanced and ambitious. they reflect the evolution in u.s. trade agreements in recent years and include the best new ideas in trade policy. and the bill strikes just the right balance on intellectual property, which is the lifeblood of the u.s. economy. negotiating objectives had been modernized to reflect our changing economy with new provisions on digital tr

to during the 2006 bopped program that was a blessing for the school district in the global class and the global economy that was for one dollars of construction we bought one dollar thirty worth of stuff and got incredible value out of our bond dollars our bids were low and taking all the alternates and had plenty of money to do all the projects and the other things we missed on the scald pr in the current 2011 bond program that economy that picture has changed the other way everybody in san francisco is phenomenally busy the construction industry is screaming for work on the transbay terminal to our school projects our bids are coming in call roll higher than sunflower years ago but it is a different day and in some ways it is a terrific time to you be in san francisco good across the board has an enormous faxing impact on the fees it is difficult to get construction workers on our projects by the way, the city is blessed with cranes everywhere times are, in fact, different. >> is it possible to gives us gives us one sentence should we can anticipating getting less work than what we planned to get. >>

fund and world bank and christine lagarde spoke to the atlantic council about the state of the global economy. she was introduced by the atlantic mr. kempe: good morning. i am fred campkempe. we have no more seats available and some people in our hallway. let me particularly welcome our atlantic council board members. atlantic council members members of the diplomatic corps and public officials, as well as our online and television audience. if i had known how popular your appearance would be, i might have tried to scalp the tickets. it's an even greater pleasure to introduce our speaker, a remarkable leader navigating difficult times and wrestling with a vast array of challenges every day with grace, clarity, and courage, from the european survive to broader issues regarding where the global economy will draw its future strength and sustainability. after the opening comments, a curtain raiser, as we used to call it at the "wall street journal," ahead of next week's i.m.f. meetings i will engage in a conversation also drawing upon audience questions here and on line. so i encourage you to con

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charles, fire away. >> caterpillar doesn't move 30%, but i think it moves up on the rebound in the global economy. big name, big dividend. looks good. mobilei, driverless car will be a reality soon. i think you can make 30% before the year's over. finally, splunk. you never heard of it. we are creating so much data out there, this makes it possible to file on that data. >> quick take? >> love charles payne and i wish you were president of the united states but i don't think he knows more than the market. >> great, that will do it. >>> hillary clinton says she wants to win over everyday americans but even some on the left think she's too much of an elitist to identify with folks on main street. listen to ralph nader. >> ralph, is hillary clinton a crony capitalist? >> sure when she was a senator, she did not challenge any corporate boondoggle and there are dozens of them. the obama administration hasn't done that. her years in new york have just turned her into a dyed in the wool corporatist and mill tarrist. >> from ralph nader. is he right or is he wrong? welcome to "forbes on

>> the first thing i would say is where is the accountability for the ceos who sabotage the global economy? right. we are for accountability. but i think it first should be applied evenly, through society and the other thing is, we see a much better accountability system right here in new york with the new york consortium schools, having better outcomes for students of color, and for the students in general. and so i think that is a smoke screen. i think that accountability argument is really about busting up teacher unions really about vilifying teachers and labeling them the problem with public education, to hide the fact they're systematically underfunding schools, denying the kids that need the most resources to succeed and achieve. >> i would say brian there's nothing less transparent than standardized testing. and there's also -- the accountability attached to it is usually wrong. for instance, with the tests given as part of the common core, and with a lot of other tennessee, standardized tests as well teachers are not allowed to see the questions, and afterwards the grades come in