i need to go to you on the wto.n hong kong with jimmy chang hundred years ago with the enthusiasm of globalization. wto looks first sub 3% gdp which by my hong kong textbooks is a global recession. how does china react to a syrup we percent -- sub 3% gdp? enda: china has been going bankrupt -- gangbusters since the pandemic began so they have been relying on exports as the pillar of growth for their recovery. now with the downturn the wto are talking about, certainly chinese manufacturers expectations, and now we have the complication of the u.s. russia -- the russian invasion of ukraine and the chinese covid lockdowns. that will likely spillover to supply chains. when you stack it together and see the wto forecast, it does suggest downward pressure on china and export this year. lisa: how much are we looking at social unrest in china? we hear about issues of food and complaints of lockdowns don't seem related to science. how far has this gone? enda: there certainly has been discontent on social media, especially wi

let me say this, the 164 members of the wto and they are all taking different actions.y members who have applied sanctions and suspended or are planning to suspend recognition status, which means they can charge russia higher tariffs for goods. there are others who have not taken any action. so there are different views. those who have suspended the status for russia, of course normally we would not support this situation in which there is discrimination between members, that is what the wto is about, but it is within a clause that we have, members can do this for security reasons and they have chosen to exercise that right. there is a real danger here, is that right, that russia could be driven into the arms of, for instance, china? away from the west, effectively creating what you just mentioned, this divided east and west trading blocks. there is a lot of talk about that, aaron, at the moment. of course, it will be normal to say that because of what has happened. notjust the pandemic, we must not forget the impact of the pandemic, and what that meant forjust—in—time

let me say this, the 164 members of the wto and they are all taking different actions.ctions and suspended or are planning to suspend recognition status, which means they can charge russia higher tariffs for goods. there are others who have not taken any action. so there are different views. those who have suspended the status were russia, of course normally we would not support this situation in which there is discrimination between members, that is what the wto is about, but it has within a clause that we have, members can do this for security reasons and they have chosen to exercise that right.— reasons and they have chosen to exercise that right. there is a real dancer exercise that right. there is a real danger here. _ exercise that right. there is a real danger here. is — exercise that right. there is a real danger here, is that _ exercise that right. there is a real danger here, is that right, - exercise that right. there is a real danger here, is that right, that. danger here, is that right, that russia could be driven into the arms of, for instance, china? away

last october the wto predicted 4.7% growth.hat projection has now been cut to between 2.4% and 3%. africa and the middle east, due to take the brunt of the economic broil, as they are the main recipients of ukrainian and russian exports, particularly cereal grains. the wto though says the longer-term risk is the warrior leads to a distant -- the war leads to a disintegration of the global economy into separate blocks, as geopolitical interests spark a decoupling of international supply chains. all that, without even mentioning the hit to russia's economy from sanctions. some projections between 8% to 18% recession this year alone. mark: just a phenomenal knock on effect. i think few people envisaged the effect you find in places such as africa where as soon as it began, people i knew in africa way down south were talking about prices rising, even at the beginning of march because of what was happening in ukraine. the whole knock on effect underlies the people of what is going on. bryan: no winners. mark: pleasure to see you, si

the wto can be nationalized, and the imf, first of all, analyze and genocify aleksey uh, here we haverom the state duma with volodya flew there america of english yes, and there you don’t need a very strong rocket, which costs from cuba to get to airfields. uh, that means the americas in florida. well, we have the answer, too. well, guys, well, are you really? well, do you really think that you will do that? and we 'll close our eyes like this. no, everything will be exactly like this, but for zelensky. if i were in his place, i would tense up with a strong one. thank god that here the truth is not in its place. here it is, now bernarry levy has arrived there, who is making a film about there is some kind of maidan revolution for the second time, because the first time he was killed in odessa, as it was reported later, and you know the techno of new france, which are everywhere in hot spots. everywhere these revolutions do this whole thing. so who is he interviewing? he interviews only one klitschko, but not from anyone, not from poroshenko, not from this friend, from anyone, and in p

the most direct tool that we have any trade toolbox is how we treat russia at the wto. the u.s. congress has spoken, we have, in concert with our allies and partners, made it clear that russia's behavior has disqualified it from the courtesies we grant to our partners. in terms of the circumvention concerns that you have raised, those are critical issues to how effective our sanctions will be. i think, in terms of the largest sets of sanctions that are related to the initial system and export controls, we are happy to work with our lead partners at the treasury department in what way at the -- in whatever way we can. senator: i appreciate that, is a whole of country and whole of democracy response. thank you. i want to follow up with a question on supply chains, earlier this month we held a meeting on out competing china by strengthening our ties with allies in the inner pacific region. i talked about increasing supply chain resiliency including legislation i developed to help bring back american manufacturing and strategically tickle sectors -- critical sectors. how are you wor

work with the wto. just using the policy instrument like the import and export. on the one hand, it can exacerbate it, the situation. usually when countries are facing this kind of challenge, they have to rely on this kind of instrument. also, the me to supply. this is going to be one area that you can initially provide one kind of this. that is providing more stability both domestically and globally. when you are facing a trade off all countries will look at them first. that is not good from a global solution. that is usually the political choice. that is what is protecting you. that is when you're are dealing with the food. most people have to eat three times a day. that is why the discussion about the food security -- whether it is in the form of buffers or intervention, what is justified, short-term, medium and long-term. i would welcome all of the analytical policy. that would be done by international institutions. i think that is something we support very strongly. this has been one of the most important to contribute and is very political issue that we are

is paying a price and, indeed, is so upset that it�*s trying to counteract china�*s measures at the wtot many europeans are going to think very hard before they confront china in that way? we understand your concerns, and lithuania is a very brave country that always withstands that kind of suppression or pressure from foreign hostile states, and this time, lithuania decided to deepen cooperation with taiwan and immediately suffered economic coercion from the economy side. but because this time, china went further to impose secondary sanctions against lithuania, which is to push european countries or european companies not to use the components or spare parts from lithuania, otherwise they cannot sell their products to china. this kind of action not only does damage to lithuania�*s economic situation but also jeopardises the eu�*s important principle of single market integration, and by that reason might be in the process of suffering economic coercion from china. lithuania also receives very strong political support from the european commission and european council and for that reason

as for the wto, vladimir putin instructed to prepare an updated action plan for the last time by the summer , illegal restrictions from the western state. we know about this , not only about the ban on the supply of finished products, but also on the purchase of certain components for the production of rolled steel sheets. armature and so on i emphasize these measures go against the principles of the world trade organization, but the commitments that european knees have constantly repeated. in this regard, i instruct the governments to conduct a comprehensive assessment of the legality of the decisions of the specified counterparties, as well as to prepare an updated strategy for our actions in the world trade organization, and i ask that this work be completed by june 1 of this year. vladimir putin stressed that our metallurgy occupies a leading position in the world and cooperation with russia in this area is beneficial for foreign buyers, russian metal producers are already rebuilding supply chains and finding new partners. but the interests of european business suffer because of

the wto needs to check all these points before june 1.o the fact that today i read, uh, in social networks, uh, from the speaker of the state duma, volodin, that commissions are being created, special relevant committees should check in a short time the expediency of our being in the wto, uh, in the imf and in. e. woz, in my opinion, if i'm not mistaken, i quoted from memory. we will now analyze it, evaluate it and do it in the way that will be beneficial for us, we will not do anything that is not profitable. putin, there is no reason to believe that the position of europe in relation to russia will change; this must be taken into account in development programs. it's just that nobody flinched. tomorrow everything will resolve, the president evaluates strategically. all this there is no reason to think that it will all resolve. this is all serious and for a long time and we must reorganize in such a way as to take advantage of the result of this reorganization. i beg you sergey yes, well, here, returning to this whole story. you know, bu

the wto lowered its projection in growth for merchandise trade this year from 4% to 3%, also cited a number of downside risks including food security and possible resurgence of covid. india plans to boost exports to russia by $2 billion in the wake of international sanctions. the countries are working out a payment system. they would ship pharmaceuticals, plastics, and chemicals. president biden wants new federal rules to address ghost guns, potentially untraceable weapons from kits. the administration has been criticized for a rise in gun violence during the coronavirus pandemic. a citigroup analyst says apple could be announcing a buyback. they may boost dividend by up to 10%. second-quarter results are due after the closing bell on april 28. the company has more than $200 billion in cash on its balance sheet. demand for air travel in the u.s. is rising but not as fast as the cost of a ticket. the number of actual bookings last month rose 12%. ticket prices jumped 20%. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts

china beat them and continues to beat them, and it’s not for nothing that the americans in the wto blockedrities on e-permitting disputes. where has china already, and sent more than a dozen complaints, but using procedural tricks, the americans block it, filling a vacancy in this body does not have a quorum, so it does not work. but that's when it came up. world trade organization reform washington made a statement uh that this reform should be implemented by the united states and europe keeping china away from it, that is. well, so i would say it's not professional to give out your plans. uh, this is probably also one of the modern traits of behavior our western colleagues, who do not constrain anything and openly declare that we will be in charge, that nato has every right to do what it wants and that they will be able to say in one statement that this is a defensive alliance, so do not be afraid of no one's security for this does not threaten. and right there, stoltenberg can declare that nato bears global responsibility for security throughout the world, including in the endo-pacific

and you see the new head of the wto comes from one of these developing economies, nigeria. the first deputy at the imf someone who has calmed -- an american citizen but of indian descent. it is critical that we have diversity in these institutions because it helps to ensure that conversations from all perspectives are happening at these institutions. ultimately the truth is that the , countries who make up these institutions -- it is important to remember that when the imf started it had fewer than 30 , countries. over time more than 190 , countries have joined the imf because of the proposition that the imf was built around helping , a sense of shared prosperity. in order for the imf and other institutions to remain notable, we have to make sure we are addressing the crises that we face from covid-19 to climate change and doing it in a way that is equitable. where we are helping those people who need help the most. that is a big focus of president biden's agenda. the leaders of the international financial institutions support. to your the goal for us is that point, the int

the wto said international trade will grow much less than expected this year. it cited a double whammy of the pandemic and the war. the revised its forecast to 3% grth in trade of goods for the year ahead. also warning potential food crisis is looming, especially in developing countries, as a result of the disruption from the war in ukraine. inflation has hit a fresh for year high in the united states. consumer prices were on average a .5% higher in march than a year earlier, the fastest rise since 1981. is the first round of data from the u.s. to reflect the impact of russia's invasion to ukraine and the disruption and supply chains and energy supplies in particular. inflation was pule -- fueled by 32% pricing energy, food prices rose 8.8 percent, used cars were 35% more expensive. you strip out food and energy prices, the core inflation rate is at a 40 year high of 6.5%. it shows signs of moderating, that .3% rise in core inflation february was significantly lower than expected. some analysts say it is a sign inflation pete may have been reached. the white ho

the wto has cut outlook for trade growth to 3% down from 4.7%.to said the war in ukraine could lead to a centering of global commerce. the u.s. sees human rights deteriorating globally as russia continues this more in ukraine. an annual report says -- sri lanka has halted payments on our and debts in order to preserve its dollar stockpile for fuel and food imports. authorities negotiating with creditors. it follows mounting calls for the president to resign. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. haidi: next, more on inflation. this is bloomberg. ♪ >> i'm not going to wait to take action. i'm doing everything in my power to bring down prices. shery: president biden speaking about rising prices, u.s. and asian edits hottest since 1981. let's bring in our global economics editor. once the takeaway? >> the fed is behind the curve, the inflation rate is higher than people had forecast. the highest level of u.s. inflation since december of 1981. goin

. >> these guys are eager, they are smart, i think most wto rform.ha is epaxioceo spent 30 yrs at nasapany plans to build the first commercial space station. >> this is the first step in a number of flights to allow us to work with nasa to learn how to operate together. >> enjoy your trip to the wonderful space station in the sky. for now, it is all eyes on axiom one set scheduled to dock at the space station saturday morning setting the foundation for a new era on space adventure. manuel bojorquez with cbs news at the kennedy space center. >> crew scheduled to return to earth april 19th. the businessman paid 50 miles million dollars each for the ride and stay. not cheap as it turns out. >>> caviar is a ellicott the long associated with russia. in the wake of russia's invasion of ukraine, more people seeking alternative sources which is good news for california caviar businesses. in the 2000s, to help create new sustainable caviar industry and form sturgeon species native to the northern parts of the state. >> what is so cool about where we are is the species of sturgeon that comes fro

in 2000, seattle, world trade organization protest, there were big riots against the meeting of the wto in seattle, starbuck's windows got smashed, and the national media coverage was like, how did this happen? why are people angry with starbuck's? where did this come from? so there were things in the '90s that exploded in 2000. there was the 2000 occupy movement, the bernie sanders campaign, just real centers of capitalism that definitely didn't exist in 1996. everyone was kind of like, oh, we fixed inflation, there isn't much of a problem. the idea was that even though economics would later see a stagnant wage growth, like the media was covering stories. i will say it, i was a high school student in the late 1990s, and there was a time when burger king was offering $3,000 signing bonuses. signing bonus for working at burger king, summer of 1998. >> three grand for a signing contract saying i'll work for you? >> yes. >> i'm shocked. >> there are things like this in our economy right now that -- like there are a lot of entry-level jobs that are offering big paychecks to begin, and peopl

i think after world war ii, we set up the wto, its predecessor the gatt, the imf, the world bank come and i think they played a very constructive role in managing the challenges of integrating global economy in the entire postwar period. we need those institutions, and they continue to do very important work. but there are challenges they face in this day and age. they weren't really designed -- there are challenges they face in this day and age they weren't really designed to deal with. in the case of the imf, to give an example, the imf was intended to help individual countries facing shocks or internal macro problems they had, balance of payment crises, to lend to enable individual countries to continue to meet their needs for external financing while undertaking structural reforms. it wasn't designed to address the global challenge, like the pandemic that created broad problems for the largest number of countries, especially all low-income countries, participating in the global economy. where the challenges that the global economy faced after the global financial crisis in 2008 wo

all the rules of the wto then they will destroy. institutions that bind us hand and foot, and then the new russia will slowly and inexorably begin to form, and which they will never cope with and which knows how to stand up, remaining historical state moving forward, and not only lead to this. well done. come on, but now it's just logic. they are purely military. that is, they really lost their economic levers of influence on russia now, yes, that is, everything that connected us with the western economy, everything, they destroyed. they destroyed. eh, by hand. uh, the fifth column, which was inside uh of the country, because, well, it just dissolved, well, to a large extent, but again with its own hands. that is, it really the strongest leverage they had, but now it's logic. what is the logic in that austin also spoke about this today, it is necessary to win a military victory over russia e, in ukraine this is impossible. here is the question of what, then, yes, what they hope to say now that the main stake is a military victory ov

of people are familiar with this that there were big riots against the meeting of the wto in seattle starbucks windows got smashed and then the national media coverage of it was like, how did this happen? why are people angry at starbucks? where did this come from? so there are currents in the 90s that like exploded in the 2000s. but since 2000 i mean there was the 2008-2010 occupy movement the 2016 bernie sanders campaign just real centerings of critiques of capitalism. across the political spectrum exists now that definitely didn't exist in the 1990s, nick. the 1990s that wages seem to be rising, but actually weren't was that related to inflation. um, i don't see it. everyone was kind of like, oh look we fixed inflation. there isn't much of a problem. the idea. was that even though economics would later see a like stagnant wage growth. like the media was covering stories. i mean, i will say i was a college. no, i was a high school student in the in the late 1990s and there was a time when burger king was offering $3,000 signing bonuses. yeah. so there is this idea signing bonus for

i'm not i'm not sure that it was wrong to let china into wto. i think it was wrong to let china into wto with the few safeguards that we had without progressive taxation without some say over what workplace standards a companies have to follow. i mean without any check on the on the process, but let's remember the us is overwhelmingly the biggest winner from globalization. it's how we have chosen to distribute the bounty that's the problem and that choice isn't by accident that choice has been dictated by davos man who finance people's campaigns who are highly skilled at using social media other forms of advertising to get the word out in their own interest. the jobless entry issues clearly golden. sorry the davos issue is clearly global how much difference? can reforms in the us make tax reform voting etc. is it is it a drop in the global bucket? well, i mean the us is the outlier in terms of the kinds of policies that we're talking about. i mean at some point in the book i look at data that's shows that in denmark, which is another bastion of

consul, and for that reason, we just mentioned, the eu would like to submit the lithuania case to the wtodeepen our cooperation with the european commission, because taiwan has been isolated from the international community, so we treasure that kind of cooperation between the commission, and the european union has been operating with normative power in the world, so we use our cooperation with the european union to reach out to many important issues, like issues of common concerns. that issues of common concerns. that is our issues of common concerns. that is yourjob _ issues of common concerns. that is yourjob as _ issues of common concerns. that is yourjob as the _ issues of common concerns. that is yourjob as the diplomatic representative type a to the eu, that is yourjob, but you also come with a lot of experience in the national security council and think tanks and national security backin tanks and national security back in time once i'm going to tap that experience to ask a bigger picture question about your most important relationship, and that is with the united states. are you c

the framework of this trade be put forward there within the framework of mechanisms, like, uh, the wto yes, because all this is actually the result of colonial logic, we come directly to you, take everything from you, throw beads and leave. and you can't even tell us that you don't need beads. you would be given collect beads. when, uh, western countries, including germany, give up. and why can we also ask a question in rubles? why are you like this embarrassing? why don’t you want to pay in rubles, maybe because paying in rubles will save us from the danger of you from, uh, a constant desire to destabilize the financial market in russia through financial fraud and stuffing in a wide variety of ways, because you will be directly tied, including this market finance and you will no longer be able to play the ruble exchange rate. because you would love to continue. so if germany does not understand. well, we have a good one there, so the facility in berlin can be explained more goes there again this scheme will be explained, if the explanations of the president are not enough , the explan

that is very much a new message from the expansion of the wto to a virtually global organization.is really an unknown. the g20 finance ministers and central bankers are set to meet wednesday and thursday. the international monetary committee meets thursday. we saw president biden saying earlier that russia should be thrown out. of the g20 -- thrown out of the g20. lisa: what is the calculus for imf officials as to who to keep in the club as they transition into a pluralistic, not globalist tick, world? -- not globalistic, world? dr. lipsky: they have legal obligations. the decisions of these institutions have the force of international law. in the short run, the russian authorities will be participating in the meetings this week. how that goes will be interesting. more questionable, the g20 is simply a voluntary group. it is 19 countries plus the european union. there is no treaty underneath it. there is no formal obligation. let's see if there is a willingness to keep this institutional, which was the institutional result of the global financial crisis. lisa: what are you looking

putin emphasized western sanctions violate all the rules of the world trade organization wto, in thisard, i instruct the government to conduct a comprehensive assessment of the legality of the decisions of western counterparties, as well as to prepare an updated strategy for our actions in the world trade organization. on the same day, within the framework of the meeting of the supervisory board of the autonomous non-profit organization russia, the country of opportunities, a large meeting of the president with the youth was held about what alexei petrov discussed . they became a truly country of opportunities, everyone was able to declare themselves, find a team of like-minded people and now projects are successfully developing diana krasovskaya from sevastopol, but i was not five years old in her small motherland lugansk. i was very afraid of flying planes and explosions, you know, i still don’t like balloons, because they explode loudly in 8 years, my life has changed a lot. unfortunately, the lugansk region and the lugansk people’s republic have also changed a lot over the years,

understanding international, therefore, of course, the situation that has developed inside it, but the wto, but at the same time, in spite of everything, russia remains the international tourist arena. we are open to dialogue with all countries and will continue to cooperate with our foreign colleagues , moreover, in many of the most popular foreign destinations for our citizens. we are in operational contact with our colleagues and jointly solve all the difficulties that arise. we will also continue to actively develop both domestic and international tourism. and, of course, we are waiting guests from foreign countries. we watch it, just point the smartphone camera at the qr-code and download the application. that's all you need. now we watch all the news with video live broadcast of all tv channels and the largest collection of movies, tv shows, programs in your hands in the application or on the website for free without registration. ukrainian troops shelled, the city of irmena in the lugansk people's republic is reported to the joint center for control and coordination, a tornado was h

system on an equal footing and that there are these, which means mythical, which means the rules of the wto there, and it’s like this business and we are integrating into all this now for the twenty-second year. we understand very well, and they gave us to understand that how would they intend us. here, how to choke to choke, and so on and so forth, and here logic comes into play. why do people ask these questions i repeat the answers are very important, but people ask questions based on the following formulations in the economic plane without any so to speak, so we have declared war on themisms. they declared war on us and they don't hide it. and in response, we are also conducting some kind of special economic special economic operation, you understand, and here a certain one arises. well, you understand, right? it 's good that you have everything i have from time to time. well, i thank god pay attention. pay attention to how european, including even american , politicians are behaving. no, well, there are more european ones here, because europe is still a battlefield now and economic and

expense of raw materials, which were imported, including through schemes that were associated with the wtowe took over. the same food was cheaper to produce, importing semi-finished products, if we talk about the political economic model and, apparently, anti-crisis measures will lead to this, that producers will be on a regional basis , roughly speaking, not a global milk producer, which under one brand pours on a bunch of regional ones. and how is it? for example, in vologda, if you see developed regional dairy products in vologda, and you will see that they do not go far to export. even further well, to moscow, but on the regional market you have 50-70 brands, small factories some area is dark, i just lived in vologda for several years and he got enough of the regional center of the regional center in order to compete, we forgot, for example, about the beautiful kazan, for example, krasny vostok beer and don’t take it, well, that is, 20 years ago, the market was different, and in this sense it will be more like the belarusian one. i propose to go to belarus to see what is there too. of

he wto causes great regret, but at the same time, in spite of everything, russia remains in the internationaltourism arena. we are open to dialogue with all countries and will continue to cooperate with our foreign colleagues , moreover, in many of the most popular foreign destinations for our citizens. we are in operational contact with our colleagues and together we solve all the difficulties that arise. we will also continue to actively develop both domestic and international tourism. and, of course, we are waiting for guests from foreign countries. the decision to suspend russia's membership in the unwto. after our country announced its withdrawal from the organization, an example of political hypocrisy, which has recently become characteristic of this structure, was stated by the official representative of the foreign ministry, maria zakharova, according to her, all this looks simply inadequate. e, zakharova noted that the organization in fact, it is monopolized by western countries, which use it in their own interests, including for e-discrimination of those who are not pleasing to them

looking forward o wto watching that. check out who's talking to chris wallace. >>> tiger woods says he plans to play at the masters this weekend. he says he thinks he can win. this is obviously huge news. tremendous comeback. a live report from augusta is next. he uses the same password for everything. i didn't want to deal l with i. but t aura digital security just dealt with it. what w were we worried about again? shopping on public wifi is sketchy. but with aura digital security, my devices are protected in like 3 minutes. it's time to protect your life online with aura's all-in-one digital security. try for free today at aura.com what was that password anyway? ew. re-entering data that employees could enter themselves? that's why i get up in the morning! i have a secret method for remembering all my hr passwords. my boss doesn't remember approving my time off. let's just... find that email. the old way of doing business slows everyone down. with paycom, employees enter and manage their own hr data in one easy-to-use