china entered the world trade organization in 2001. d we ushered in this era of globalism, the hallmark of which is massive unfair trade practices that basically drain the lifeblood out of the u.s. economy. >> but the standard of living -- american standard of living has increased since then. americans have more consumer power. americans live at a higher level. and the manufacturing industry is more robust than it used to be. >> well, i would -- >> we just have fewer jobs in manufacturing here because of innovation. >> i don't know where to start on that, but, for example, you take the auto industry. employment is dramatically down on that, and the degree of foreign content in the cars we actually assemble here is high. we used to be a vertically integrated auto industry, where what we made, we assembled here. now that's not the case at all. >> but that sounds like a nostalgic view of a manufacturing economy, when we have automation. we have more productivity per worker. >> no, i'm all for automation, because with automation, you get hi

quite frankly we need to leave on the twenty ninth the best outcome for us would be the world trade organization times we leave we can sign whatever trade deals you want in the world that's the best thing for the united kingdom. at the moment this can keep on harping on about this irish nonsense who cares who cares about this irish and says quite frankly there's more important things our freedom and quite frankly if the irish republic want to build a wall let the irish republic pay for it and them over they don't seem to be able to pay for anything they already in a great deal of money we should be helpful to britain and not spend our time trying to destroy our freedom and our breaks and it's what we have democratically decided and they are sure public should just try and fits in with that and it's their economy that's going to suffer and that that's that's why can some of radicals playing at he's the one who's going to be in serious balled up if they don't you know if we don't get a good deal. believe that david i mean pay for scotland on a member of the freedom direct democracy great pranks da

trade policy we would be cut off from the world with our trade and economy regulated from brussels but there's another side to this story as the world trade organization director general puts it himself it's not the end of the world trade will not stop it will continue. as will be negotiating with the u.k. the legal basis on which that trade is going to happen doesn't mean that you have a disruption in terms of trade flows or if you will become more moderate on the ticket so now that may's deal has been shelled for the time being surely some people should be happy wrong brace yourselves for the worst or at least that's the narrative that the media has been pushing right from the start plane to be unable to fly from the u.k. to the e.u. and vice versa creating chaos in ports before this is not an apocalypse movie is it. could britain be isolated overnight will all planes be grounded after brags that well the easyjet chief executive your hand doesn't quite mirror that sentiment better deal scenario you're. confident that fly will continue to march with if you're not frightened yet in this guardian article will send shivers down your spine but the realit

a further intensification of trade disputes it will be looking to strengthen the world trading world trade organization the w t o and the rule based trading order russia ukraine another very big topic for germany where it has taken leadership in the past that undoubtedly will involve some challenges this year as well and then various challenges on the front of security and arms control ranging from a possible u.s. withdrawal from the i.n.f. treaty that's designed to control medium range nuclear weapons possibly stationed in. central europe and germany certainly germany will be looking to hinder that any further escalation in that area and of course any fallout from further hostilities in syria they let new lead to a new wave of migrants all of those could be issues on which germany will need to and want to make its voice heard within the context of this new role in the security council but in the crowd. could call it a sport the january transfer window is open just like your club has already cashed in for us you don't want a sold american the winner christian not policing english chelsea the twenty yea

just accept the world trade organization leave on those terms no deal and britain will be fine this is a deal world trade organization is a deal it's a deal the whole world these are extraordinary times in the history of this ancient democracy a country bitterly divided a government clinging to power by its fingernails and a parliament that doesn't seem to want the deal on offer but can't agree on very much else. and an opposition leader himself a lifelong euro skeptic determined to do what the e.u. says it won't renegotiate the brakes deal but first jeremy called in must also pull off the nearly impossible we know vote of no confidence in the government forcing a general election i can think of no greater example of democracy in action than for this house to reject a deal that is clearly to this country. the uncertainty could mean delaying the u.k.'s exit from the bloc extending its article fifty notice period and that would be the very moment when those in favor of a second referendum unlikely to strike campaigners for a so-called people's vote believe the time is close when britain

tariffs are looming also on the trade agenda a meeting between both sides in japan to talk world trade organization reform all three nations are concerned about china's approach to trade. you know forming your position against china we have wifi and not too many of the chinese practices. because they are no use for that to tap into and that's trying to do remedies for the u.s. and the e.u. a rare area of agreement. and of course all these trade tensions are also a big issue for the tech sector which is actually congregating in the consumer electronics show in las vegas these days chinese companies have traditionally shown up strong at international tech shows like this but from what we can see not this time china's tech giant while away has a large booth in that's vegas and it's crowded here the company famous for its phones and tablets it's taking on apple introducing its new laptop for just a little over twelve hundred dollars. at this price if you have the premium to sign you up to. the screen we still can't touch because if you look back like people. they'll be laughing their friends they're tr

swiss also subsidize chocolate exports making swiss chocolate more affordable abroad the world trade organization put a stop to that though is being phased out from this year on the w t o o's objective more free trade and more competition and of course that's the mantra of this entire forum here in the fourth. the w e f is known for bringing together the world's richest and more powerful but they're not only here to get to listen to they're also here to listen as this year's conference focuses on those who don't really profit from the current global economic architecture the voices of those representing them are more important than ever we spoke to some of the n.g.o.s that are here to send a message. kumi niger doesn't like coming to davos but he's been attending the forum for fourteen years now. i think is a pathological condition which many people suffer from where they believe that a meaningful life a good life a decent life comes from more and more material acquisitions. this reality is usually very far away from the posh pristine summit and that's why n.g.o.s like his are often criticized fo

swiss also subsidize chocolate exports making swiss chocolate more affordable abroad the world trade organization put a stop to that who is being phased out from this year on the w t o o's objective more free trade and more competition and of course that's the mantra of this entire forum here in the fourth. curator of other explaining a world trade. companies operating in the e.u. are paying far less tax than you and i might expect a new report by the european greens as highlighted the difference between a country's corporate tax rate and the average rate companies actually pay things a large part of the legal loopholes let's take a closer look at the biggest this discrepancy in europe can be found in luxembourg very tiny here over there their companies are officially taxed at twenty nine percent that actually do pay on average a mere two percent in france on the other hand the corporate tax rate is thirty three percent of firms that manage to pay only about half the amount seventy percent in europe's largest economy economy germany it's only slightly better as you can see there and something tha

wednesday by german chancellor angela merkel who called on multilateral bodies such as the world trade organization to gain oversight of the digital world. now the world economic forum can bring together people with diverse backgrounds and missions one of them is connie culp a bestselling book author turned poker champion and she says if everyone played poker the world would be a much better place really she said that our reporter met up with her. i'm bout to meet maria conic of a best selling author turned poker champion and i want to know what a poker novice like me can learn from the game in business and in life i didn't you know he not only was not an booker it's never a career it's never had any desire to get a bill or to do it like that but i have became very interested in the nature of. that's why maria conic of us started playing poker two years ago to do research for a new book but she quickly started winning high stakes tournaments and got so good that she even took a break in writing to this you hope a korea. think poker is one of the best tools for feel like decision making skills if yo

wednesday by german chancellor angela merkel who called on multilateral bodies such as the world trade organization to secure more government oversight of the digital world. also doubles the head of goldman sachs said if britain didn't manage a smooth exit from the european union investment bank would stale down expenditure in the u.k. david solomon made the comments at the world economic forum hearing this year's underlying sentiment in davos a lot of concern but few real answers. in just a few hours time peace and quiet will return to davos the delegates who came here to seek solutions to the world's problems will be gone for another twelve months. as usual participants at this year's gathering tackled some big issues conversations focused on trade conflicts climate change and of course the many unanswered questions about britain's departure from the e.u. ask you very very little fifty. johnson come direct to be delayed others were less tight lipped and came up with analogies to describe the prospect of britain leaving the e.u. without dale it's like in a family husband and wife divorce without a

swiss also subsidize chocolate exports making swiss chocolate more affordable abroad the world trade organization put a stop to that the law is being phased out from this year on the w t o o's objective more free trade and more competition and of course that's the mantra of this entire forum here in the voice and climate was a high on the agenda the executive director of greenpeace jennifer morgan is in davos urging leaders to change their economies to take action to keep climate change to within one and a half degrees celcius she caught up with up and zealand who asked her whether we really only had a decade left to act. well i think we actually have less than that because we have to start now so he's absolutely correct that if we don't dramatically change what's happening right now in our economies and moving into renewable energy etc that in ten years the world will move to a one point five degrees increase of temperature and with that temperature increase comes dramatic consequences so that's the crisis and one would expect leaders here at davos to put all of their energy into solving that i'

has the world trade organization to secure more government oversight of the digital world. now even the queen seems have had enough of the ongoing briggs a drama queen elizabeth the second cold for opposing factions in the u.k. to find quote common ground statement is seen as a veiled plea to end the bitter fighting over. the head of goldman sachs britain didn't manage a smooth exit from the european union investment bank would still down expenditure in the u.k. . made the comments at the world economic forum mirroring this year's underlying sentiment. but few real answers. in just a few hours time peace and quiet will return to davos the delegates who came here to seek solutions to the world's problems will be gone for another twelve months. as usual participants at this year's gathering tackled some big issues conversations focused on trade conflicts climate change and of course the many unanswered questions about britain's departure from the e.u. . you're easy to see but it doesn't come directly to be delayed others were less tight lipped and came up with and ologies to

would fall back on the rules of the world trade organization customs checks that borders would return with the likelihood of huge tailbacks on motorways leading to ports and aviation experts have warned that without e.u. air traffic regulations for flights between the u.k. and e.u. countries might be grounded come brags that day. and knock on effect of the transport chaos disruption to food supplies. the u.k. imports about thirty percent of its food from the e.u. so supermarkets could see shortages on their shelves and there is more another sector that could get into trouble banking. all credible studies have shown a significant negative impact from a no deal brags that on the u.k. economy the pound is already under severe pressure due to mounting fears that britain will crash out of the. what else health care it is estimated that britain imports about thirty seven million packets of medicine every month from the e.u. that includes cancer drugs any disruption could have serious consequences for people who rely on the treatment. and what about the roughly three million e.u. nationals w

cabinet no less would like to see a so-called managed no deal shipping out of europe with only world trade organization rules to govern relations after that and still others another group battling hard for a second referendum to take this whole bracks breaks it mess back to the people important to remember is there is no majority not just for the deal but for any of those options for last night's vote does little to break the existing deadlock that's they no clear path for decades many thanks for joining us there and now and westminster as they are now to bob outside downing street and i once again fighting there for political survival what's her next road. or it's really interesting and if these were normal times then of course in a few hours from now mid-morning we would see the reason may come out of ten downing street and either announce that she was resigning or call for a new general election of course these are not normal times they haven't been in the u.k. since that bret's a vote in two thousand and sixteen so now to reason may has said that she will fight on and stay and deliver breaks it in

just accept the world trade organization leave in those terms no deal and britain will be fine this is a deal world trade organization is a deal it's a deal the whole world these are extraordinary times in the history of this ancient democracy a country bitterly divided a government clinging to power by its fingernails and a parliament that doesn't seem to want the deal on offer but current agree on very much else. and an opposition leader himself a lifelong euro skeptic determined to do what the e.u. says it won't renegotiate the brakes deal but first jeremy called in must also pull off the near impossible we know a vote of no confidence in the government forcing a general election i can think of no greater example of democracy in action than for this house to reject a deal that is clearly true this country. the uncertainty could mean delaying the u.k.'s exit from the bloc extending its article fifty notice period and that would be the very moment when those in favor of a second referendum unlikely to strike campaigners for a so-called people's vote believe the time is close when brit

why we have the current rules based multi little lateral system institutions such as the world trade organization as the united nations in fact the german chancellor saying the following about the progress that has been made since world war two that organizations have contributed to making the world a better place and that poverty as a percentage of the population has been on a decline in the past decades now this was really a pointed critique of sort of the elephant in the room that is us president donald trump and populist politics in general which we have seen gripped many nations around the world recently it was also a critique of the theme this year at the world economic forum which is globalization four point zero it's an acknowledgement that our increasingly digital economies are not benefitting enough of the global population and those gaps those inequalities could increase as the pace excel or rates there's been a call for reform in the global architecture angela merkel acknowledging that that reform is important however do not throw the baby out with the bathwater that's a very good poi

. >> a discussion on the state of global trade and the importance of the world trade organization. it is the event hosted by the peterson institute for international economics. it is one hour 20 minutes. >>> let me welcome all of you today to the peterson institute of international economics, i'm fred burstyn, the founding director, director emeritus and senior fellow and happy to host today's session for a close and dear old friend, alan wolff. alan wolff, as all of you know is now deputy director general of the world trade organization, has been for little over a year. this comes after a very distinguished career in government and the private sector. he was one of the world's leading international lawyers for many years, having prosecuted some of the most tax breaking international cases in the history of the wto going back to kodak, fuji, the semi conductor cases and a variety of other landmark international legal decisions. alan was the deputy u.s. trade representative in the u.s. government, way back in the carter administration. when he was one of the key architects of tokyo

bit of trust between the two of them then maybe others could join preferably around the world trade organization table and solve the grievances that they all have everybody has grievances about the system of international trade not being up to the standards of the twenty first century and that's fine but then the answer is c. there on that they will find common solutions but the whole system globalization. it's fizzling out well i think liberalization has taken different shapes and it's taken shape in a much more digital way and we do not understand how this digital way is working and certainly we cannot measure it properly and this is why we have the impression that the world is shrinking but in reality the interconnection that globalization brings is taking shape continues to take shape but in a different way today is much more about data exchanges services than it's about physical goods as in the past so what are you hoping will be achieved at this world economic forum where last year i left with the impression that there was a bit too much complacency and i hope that coming out of the post t

on the twenty ninth of march as things stand it may leave with no deal at all on world trade organization the terms. meanwhile france has activated its no deal bragg's a plan setting aside fifty million euros for any contingency and a german foreign minister heiko must says that berlin is also stepping up preparations for a hard drugs it. we are prepared for every scenario we will continue and step up our planning for a chaotic breaks it. all throughout her tenure theresa may has promised to deliver on the results of the two thousand and sixteen regs at referendum but now fulfilling those promises seems to be in doubt artie's i sallied reports. government document has been leaked outlining how long it will take for legislation to pass the. lethal rise to the holding of a second referendum the so-called people's vote regarding the u.k.'s decision it's a review of the elite you know this document as dramatic by civil servants and it was handed out to and police during meetings between downing street officials government officials and those members of parliament and it's a one page of a memo

on the twenty ninth of march as things stand it may leave with no deal at all on world trade organization terms. so yeah it's all going on lots of opinions lots being talked about this turd button he is the leader of the u.k. independence party at mark album and he's of the oxford crisis research institute they both give us their thoughts on the impasse in parliament and what it means for the country. the establishment remind us of being counter-attacking for the last two and a half years with the assistance of mrs my with the assistance of the commission to get to this position where we are now not really leaving this whole two and a half year political show rod that's been conducted on the false premise that you can't leave without a deal of course you ended up with a deal that nobody wants even before the referendum i remember talking to some of the people who were going to leave and i had imagined they would have a whole show of politicians they were period they just had to go off the course so they could quite have to look with them so they would come out of the traps profitable for

and we should also be but you're seeing the world trade organization china is in violation of rules on the way it deals with intellectual property that's not a reason to abandon the devil hugo that's a reason to strengthen it china is a signatory that's a very powerful lever that we should be exercising economist david autor the from mit thank you very much for joining us thank you very much. from the world economic forum in davos and besides all the political discussion the latest tech is always a big topic in davos and artificial intelligence is seen as shaping business of the future as a tool for solving problems but there is also concern for example about all the jobs that the technology might make obsolete a reporter went to gauge the ai mood of the world for. this little paper figure moved as if by magic it's the brainchild of pupils at a school in the swiss town of davos they programmed the small machines themselves and are showing visitors at the world economic forum what they can do artificial intelligence no not quite. the same thing again says for me for me artificial intell

the on the twenty ninth of march and as things stand it may leave with no deal at all on world trade organization terms gerard batten the leader of the u.k. independence party and mark almond of the oxford crisis research institute gave us their thoughts on the impasse in parliament and what it means for the country. the establishment remind us of being counter-attacking for the last two and a half years with the assistance of mrs my with the assistance of the commission to get to this position where we are now not really leaving this whole two and a half year political sure rod has been conducted on the false premise that you can't leave without a deal of course you ended up with a deal that nobody wants even before the referendum a river talking to some of the people organizing the leave campaign and i had imagined they would have a whole show drew of parts of europe you. had to go up or so they could quite happily live with them so they would come out of the traps of to go for a beautiful woman and so this is what will for the year to begin the process and that's partly because you can sort of

partners of so-called developed world accept what we have agreed to be common policy this world trade organization it was established to allow free movement of goods services but also yes people this is part of the agreement you cannot take the best go and send your services your banks your multinationals in africa and not allow africans to migrate this after all was what europe did to africa when they sent the imperial power in the nineteenth century in africa that's what they did to america where will they prevent africans traveling this is part of globalization i think we should not be shy about recalling the fact that the second one the third one is this you or somebody alluded to the fact that the russians the chinese and the likes of the indians are coming into africa yes that's a very good if you have to open up the process to ensure that africa does not sit one to one with one imperial power we need others to come in and i can govern to you as somebody with the region almost the first book on china and africa that china at this moment despite the importance of its commercial links with afr

on the twenty ninth of march and as things stand it may leave with no deal a toll on the world trade organization times. gerard batten the leader of the cain dependence party in marco arment of the oxford crisis research institute gave us their thoughts on the impasse in parliament and what it means for the country the establishment remind us of being counter-attacking for the last two and a half years with the assistance of mrs my with the assistance of the commission to get to this position where we are now not really leaving this whole two and a half year political sure rod has been conducted on the false premise that you can't leave without a deal and of course you ended up with a deal that nobody wants even before the referendum i remember talking to some of the people who organize in the leave campaign and i had imagined that they would have a whole shed jewel of part of the european legislation they had to go up or so they could quite happily live with them so they would come out of the traps of to go further if they wanted to and so this is what we're for against it it took the year to be

institutions that represented like the international monetary fund the world bank or the world trade organization and that is because they have come under fire because they are not really. being able to deliver the results and the functions that they were supposed to and that is the message of i'm going to medical when she says she needs or she sees a need to reform them it is not about giving up multilateralism but reforming it in order for other countries and powers not to create similar institutions that can become an alternative instead of all countries and all regions working together. now another one of the key speeches today coming from japanese permissions oh hey how did his remarks compared to miracles. well it was quite remarkable that both leaders seem to be in line when it comes to their priorities. specifically mentioning the digital ization process and how it affects it both countries share a demographic problem with aging populations which of course implies a challenge and he also made a very important emphasis on climate change and i'm going to merkel actually said that she was gl