Skip to main content
Internet Archive's 25th Anniversary Logo

tv   Boom Bust  RT  December 18, 2020 8:30pm-9:01pm EST

8:30 pm
this is the one business show you can't force from an unfair montage in washington coming up united states kind of the largest chip maker and maybe one last. tough on china legacy presidency coming to a close and. shatter shopping records accelerating a trend many experts thought we wouldn't see until 125 we have a lot to get here so let's get started. u.s. is preparing to add dozens of chinese firms to its trade blacklist and it includes china's largest chip maker smic the u.s. commerce department confirmed the decision and secretary wilbur ross said entity list restrictions are a necessary measure to ensure that china through its national champion smic is not
8:31 pm
able to leverage u.s. technologies to enable indigenous advanced technology levels to support its destabilizing military activities on friday china oppose the decision calling it a way for the u.s. to suppress chinese companies. if it is true this will be another example of the u.s. using state power to suppress chinese companies trying to firmly opposes it the u.s. politicizes economic and trade issues violates the principles of a market economy and fair competition it is a long been advocating and violates international trade rules it not only harms the legitimate rights and interests of chinese companies but it also impairs the interests of american companies that will seriously it was europe to the normal technology exchanges and trade between the 2 countries which and even among countries in the one you don't go further damage the global industrial chains which is why chains and value chains suit your the new rules will require a commerce department license for all u.s. export origin technology going to make ross also told fox business
8:32 pm
a total of $77.00 companies and affiliates will be added to this so-called entity list including 60 chinese companies for more on this. kristie how does this affect smic. well this is really concerning and this designation basically restricts companies from exporting u.s. or technology to these firms like snake without a license so this effectively prohibits as i see from acquiring technology to build chips with a meter circuits and smaller which is the industry's top class of chips and this move is now being seen as the latest effort to cement comes a legacy of being tough on china so these latest policies are going to make it significantly more difficult for the incoming administration to unwind and restore so it's kind of almost like last herat attempt so this move also significantly raises the pressure on the chip maker who receives billions of dollars in state acting and is central to beijing strive to improve the country's self-sufficiency in critical technologies like sanctions so china responded to this and called
8:33 pm
washington to stop its arbitrary suppression of chinese companies and chinese foreign ministry said that the blacklisting would be evidence of us as oppression of chinese companies and that beijing will continue to take necessary measures to protect their rights so this is also severely very concerning to investors as well as shares of some i.c. fell 5.2 percent in hong kong friday weighing down on the entire broader sex tech sector where they are the largest chip maker of from china how does this claim the s m i c has military ties does it have any basis at all. no not at all and so my seat has repeatedly denied any relationship with the chinese military and the u.s. has net to substantiate any proof of its claim that s m i supervise any sort of application to the military so everything that the us is claiming these are broad claims that these 16 blacklisted companies have ties to the people's liberation army and the military however as we've talked about most technologies have some
8:34 pm
sort of application to the military not tied to the military let's just differentiate that point but applications that could be used by the military these things include drones g.p.s. navigation that everyone has in their cars cell phones facial recognition and biometrics that we have on our phones all of these things are widely used consumer goods but they all have some sort of military application so in that case should we start blacklisting all these drone companies as well restrict g.p.s. access block all data and network abiders over some notion that they could potentially have ties to a military without ever having any. so this has really nothing to do with the claims for national security and this has everything to do with the fact that china has access and is building out a very advanced semiconductor products and is closing the gap on the u.s. as tech dominance so this was a very targeted and strategic attack on some i see who currently trails taiwan semiconductor manufacturing co which is the industry's market leader in its
8:35 pm
development of the most advanced chips so it has sought to build out foundry so manufacture of computer shows that can compete with those of ts and c. and is rapidly becoming a viable competitor well it sounds like that's kind of where we're heading where the united states is doing more to block these chinese companies we start with well we now we're seeing it with some i see kristie i do want to turn to our bitcoin base is now planning to go public as a big push past 23000 we've been talking about this a lot we didn't think it would reach this reach this until next year it's really rallying this week surging what's the latest here. so right now bit quiet has absolutely been pumped up by the institutionalise right now and there is a lot of support coming in at the 16018000 providing a lot of support so i don't expect the coin to fall below the $20000.00 mark anytime soon and for the santa rally to continue because we see the rally at the in the equities market with the us and the already all time highs and so that
8:36 pm
bullishness is being carried over and stripping into the cryptocurrency market so we've seen a lot and right now a point basis trying to kind of capitalize on this newfound rally with breaking the 23000 mark coin base has also begun exploring the process of an i.p.o. so currently it's filed a draft registration statement at the f.c.c. and by some estimates base has a valuation exceeding that of $8000000000.00 go this announcement comes while all the other crap the currencies and its assets have soared and they currently have more than $25000000000.00 in assets on their platform and more than $320000000000.00 in total being traded however in recent weeks we have seen some technical glitches so this is all very exciting for point based and i suppose this will be the ultimate validation for the space to see one of the most open g. startups attain this you know quite status in the public market but i have to say in a way it's also a bit of a salad because the original basis and the purpose of cryptocurrency was to offer
8:37 pm
financial freedom to break out of the trap set by bankers and traditional v.c.s. so i mean that's what happened during the i c o boom raising funds to crowdsourcing decentralization no middleman taking an underwriting fee no exclusively in preferential treatment for wall street so all investors got equal opportunity to participate and funds were more efficiently distributed so this is not really disappointing that point is taking a more traditional route and basically turning its back on everything that the industry stands for and at this point i would say that they're doing it out of need and also being pressured by early b.c. partners to just cash out what it sounds like do you think it will hit the 25000 dollar mark were we're looking we're a few weeks into the new year is it going to hit $25000.00. i think it is very possible of 25 is definitely going to be a psychological resistance point so i do expect to see a lot of selling before then but what all that said if we do get more stimulus and we do get more liquidity in the market i do think that that will also contribute to
8:38 pm
the fact that people are going to be increasingly looking towards cryptocurrency as an inflation so if that happens we do get some sort of stimulus i do see that ramping up and boosting the entire a lot it's come up pretty quickly in the last few weeks so i wouldn't put it past the 2 to actually reach even more all time highs some we haven't seen before cryptocurrency expert who was co-host christi i thank you for breaking this down for us. thank you. markets are mixed this week with optimism about coated 19 vaccines investors have a close eye on a no brainer that trade deal while also eyeing that u.s. stimulus in russia the marks is up this week russia's central bank kept key interest rates at 4.25 percent the world bank said it expects russian economy to grow in the next year by 2.5 percent and during his end of year address russian
8:39 pm
president vladimir putin spoke about diversifying the economy away from such reliance on commodities let's move over to asian markets the shanghai composite is up this week despite rising tensions between the united states and china hopes of a recovery really helped the index gains health care and financial stocks saw some significant yields amid the rally in hong kong we see our 1st red arrow where the hong saying is just barely down lost nearly one percent on friday from those rising tensions and an increase in covert $1000.00 cases tech stocks fell by one percent on friday alone in japan we see a green arrow despite a small drop on friday. the bank of japan announced a 6 month extension of its special program aimed at easing corporate financing pressures amid the pandemic in india the sun sachs is up its 7th straight weeks of gains now the longest streak since april 2019 the new 50 also gained 2 percent on
8:40 pm
the week and in australia the a.s.x. is up as the australian bureau of statistics reported a 6.8 percent unemployment rate for november that's compared to october is 7 percent but i am financials did see some losses in the all shares in south africa is green for the week it fell on friday dropping from 2 year highs but tech investors naspers dropped 2 percent on those u.s. china tensions and naspers holds a large stake in chinese tech giant tencent in the u.k. the footsie is just about flying it's retreating slightly as a post for exit trade deal remains in question with time really running out with still no agreement the cac in france is in the red while the german dax is up for the week now concerns over bugs that are affecting things around france while the institute said germans economy will slightly shrink in this year's 4th quarter but
8:41 pm
there is often as for europe's largest economy in brazil that you have a spot in the green this week despite stock growth central bank president roberto compos and i thought questions on vaccine rollout and acceptance are really adding uncertainty to those economic forecasts just north of mexico the b.m.v. is also up on thursday in a split decision mexico central bank held its benchmark interest rate of 4.25 percent now some board members were looking to lower the rate to 4 percent here in the united states all 3 major indices are up the dow the s. and p. and the nasdaq they all touched record highs amid vaccine roll out. as well as hopes for about coven 1000 relief package and we're going to finish off in canada where the t s x is also in the green this is despite bank of canada governor to saying the country's economy will likely shrink amid the pandemic 2nd wave positive retail
8:42 pm
data and energy stocks also helped see some of those gains we're going to keep an eye on your stimulus and vaccines in the coming weeks and that is your global market walk. while 2020 is a year that many of us would like to forget the e-commerce site or it has been nothing less than a blessing kovan $1000.00 has caused an unprecedented acceleration an online shopping and what that business is priming itself by investing in innovation to keep the flow going in the coming years artie's alex may hell of a child the story. it has become an increasingly common sight boxes containing everything from gifts to meals being dropped off at your doorstep over $1000.00 has ushered in a more digital lifestyle across much of the world and e-commerce also known as online shopping has reaped the reward bank of america figures show that in the past
8:43 pm
few months we have witnessed an equivalent of 10 years of accelerated e-commerce adoption addressing this holiday season a senior managing partner at i.b.m. services said while last year 60 percent of shopping was done in the store and almost 30 percent online this year those numbers may be nearly reversed many predict that the trend will continue in a post coronavirus world and with the demand growing so our expectations some business people are saying that companies must adopt to a digital 1st approach if they are to survive it by me and agencies has now allow people and the law kids to actually be who don't need his dollars and then try to teach them and they can make a dissenting choice today consumers are demanding better and faster service and businesses are heeding the call tony pizza senior director of product management at sales force said the business challenges that we needed to address for our clients
8:44 pm
included direct access to end customers accelerated adoption of digital commerce modernization of legacy platforms enable curbside delivery reduction of return rates adoption of on the channel orchestration and adoption of social network engagement platforms aside from getting the product that they want in a timely manner according to recent research conducted by sales force 80 percent of customers say that the experience a company provides is as important as its product or service and while consumers are demanding better service sustainability has also become a key issue according to the latest findings of a global i.b.m. institute for business value study 54 percent of global consumer surveyed reported that they are willing to change their holiday purchasing habits to help reduce environmental impact. here's simeon siegel of be more capital markets there's this moment in time where company you don't people have taken
8:45 pm
a breath and let me refashion my business for the future let me focus on building a better company rather than focus on building a bigger company according to some analysts e-commerce will account for a quarter of all retail sales by 2024 for boom bust i'm alex markovitch. time now for a quick break but when we come back new car sales are down for 2020 but could finish a little bit stronger by the end of this year we'll talk about this and the future of electric vehicles but more and fix the car coach as we go to break here the numbers of the. universe is really. into motion presence. that is the ultimate reality
8:46 pm
of this thing we call but you can hear to hear to change it you can touch it it shapes so it. doesn't change the calculus or about it they should. just that. you don't mind. let me look at the my face you know i long to name a country of the not of the established at the mouth. about the economy. class that is that the things that matter to you that are coming to your knuckles i mean that was the $100.00 on the back of the musical was around when i was. you.
8:47 pm
know what's. going to come up thinking. we're going to go. on to going home. because there is this huge gusher of money printing bedsteads coming out of the central banks and because. nothing's working against it because it's not. producing anything like yoga or a ford or some other company where you could look at the actual products in a meaningful context of the global economy in ascribe a value to it you can simply say that well we think that tesla has a meaning which is mostly i mean. money is in me so we're going to make it worth $600000000000.00 today and it could be worth it could drop 90 percent tomorrow.
8:48 pm
the european union's chief negotiators met with the united kingdom and what they're calling the start of a last attempt to clinch a post price that trade deal the e.u. chief negotiator michel barnier told parliament they are prepared for the possibility of a no deal drugs. would you care. to sit down you know i mean what can i tell you what the outcome will be of this final streetlight have to do shisha this is why we must be ready for all scenarios this is also why a series of texts including contingency measures are being submitted for your vote
8:49 pm
to prepare us for a possible no deal. while u.k. prime minister boris johnson said he hopes the e.u. sees some sense of all this the u.k.'s position is always that so we want to keep talking if there's any chance of a deal but i have to say that. looking difficult and there is a gap that needs to be to be bridged we have a you friends who will see sense and come to the table with something themselves so that is that's that's really where we are he went on to reiterate that if a deal is not reached by that december 31st deadline the u.k. will trade on a world trade organization rules this means tariffs for both sides. amid the pandemic we've discussed the many sectors that continue to struggle one of them the auto industry new data by edmunds the online automotive resource showed that in
8:50 pm
2020 the u.s. market had its lowest sales volume since 2012 forecasted at 14400000 new car sales this shows a 15.5 percent decline from 2019 but the 4th quarter may be looking up and runs forecasts 4030000 new cars and trucks will be sold and with u.s. auto production up point 4 percent in november how much hope is there for the sector well to answer this and bring in the car coach lauren fix lauren good to see you gotta see you what kind of recovery are we looking at here for 2021 with an auto sales really being at an 8 year low. well it's been a lot of pent up demand for new car sales on a global basis because people weren't buying cars they were kind of sitting on what they had if you were leasing which is very common here in the u.s. people are waiting and extending their lease terms and that can be done if you're coming to the end of your lease contacting the leasing company and so that brings
8:51 pm
up to about a 1000000 cars a month being traded in and there weren't vehicles to be exchanged because there was no production or lack of components to finish production but now the parts are starting to roll in we're seeing an increase in production so 2021 vehicles will be up and i think we're going to see a pretty good year by guesstimation is based on numbers are going to be somewhere in the 16000000 range and it won't be as high as it was in 2019 but i think we're going to see a really good year for automotive and we're seeing production really vamp up again since 1901 of the sectors that have started to kind of come back to us market is forecasting a rebound in light vehicle production of 14 percent they're looking at about $84300000.00 units based on the current analysis they have now this reflects a continued recovery is right particularly when it comes to major markets china europe and here in the united states and north america do you expect this to happen . yeah i expect on a global basis you're going to see an increase in sales and we had a huge hurt across the whole entire planet so because of that we were able to get
8:52 pm
product out to people and people weren't buying product as they were sitting at home and waiting now when you're done talking about china in july we saw the start of a ramp up of sales and we're starting to see a big increase especially from the month of november we're going to see china basically come back to where they were it'll be flat by the end of the year so there's a lot of sales going on on a global basis europe is a little bit behind but we're going to see a lot of increase in electric vehicles from neo from tesla from b y d and china and we're also going to see an increase sales here in the u.s. and every manufacturer is ramping up for that because they know that people really want to get new vehicles and they kind of waiting and so what you're seeing happen instead is used car sales of which last year was 40 $1000000.00 vehicles in the u.s. in north america you will see that increase and dollar value about 10 to 15 percent with pickup trucks leading the pack followed by s.u.v.s and city and so we're seeing huge increases in the used car sales in demand and we have china for example want to so we're seeing them have 8 quicker recovery rate their auto sector has
8:53 pm
been and has been pretty quick in this this week spokesman a spokeswoman for china's national development and reform commission said the year on year decrease has contracted to around 3 percent nothing in both auto outputs and sales that's for the 1st 11 months so far is this a reflection of what we're going to hope to see across the world then. i think we're going to see a reflection across the world of course china is going to be back up and running quicker they seem to have gotten through the pandemic they 'd are starting to vaccinate people as vaccines become more and more popular people have more and more confidence in purchasing new vehicles and getting out there and getting back to remotely normal life europe will come behind it's going to be a little bit on the slower side but i think japan and a lot of the other asian countries will perk up much quicker going to see a big change for next year i think next year say auto sales are going to be huge. well of that oil sector you're going to see a big increase there as well that's what we're hoping for a big recovery here and sooner rather than later i want to shift gears here
8:54 pm
a you mentioned electric vehicles policy makers here in the u.s. and here in washington specifically they're they're being called to help with support of these of these cars through incentives infrastructure investment president elect joe biden he's been more vocal in supporting these electric vehicles compared to what we saw under a trumpeter ministration is this going to be something he pushes even more. or there's going to be a huge push for the green new deal type of. getting people to buy electric cars there isn't a big take here in the us about 2 percent is about average so it has not been no increase because there are without kovan and manufacturers are not making money on any of the vehicles they're selling there's no manufacturer to this day making money on electric vehicles they make money off of carbon credits here in the u.s. especially tesla which has bolstered there's their bottom line as you see they're getting on the s. and p. next week so that's big for them and it'll help their stock value but we're looking
8:55 pm
at a global basis of electric vehicles we have a problem with infrastructure china has the same problem there's the grid cannot support every single vehicle going electric and that's trillions and trillions of dollars to get the structure up not just that is you don't have enough charging stations right now there's around $40000.00 charging stations and the administration is talking about 500000 charging stations of which the grid definitely can't support it's not a connected grid it hasn't been updated in many many centuries a century just about pretty much there have to think about if that's not updated we have to update the infrastructure in order to get the charging stations in place and who's going to fund that and the government can only fund so much of that still be a lot of private industry involved as well one test that you said obviously they're waiting for them to join the s. and p. meanwhile traditional car companies like g.m. ford and f c a there are only about a fraction of tesla market cap is this really the future of the auto industry. well i don't think electric cars are the future of the auto industry i think it's
8:56 pm
a piece ringback of the auto industry that's going to always be a different form of proportions of the gas and diesel we're also going to see some new technology coming in compressed natural gas propane and you're seeing a lot of hybrids we've talked before when i was on a blue gas that's something that china has invested over 60000000000 dollars and that is a combination of hydrogen and that's going to be used to charge electric vehicles as well as propel gas powered vehicles so this is some new technology we're starting to see. we also have l.g. coming in the forefront so start keeping your eyes open for new forms of energy and i think you're going to see a lot more of that as we move into the future are telling us he more of that in the years to come given the biden under the hand of ministration lauren fix the car coach thank you as always for breaking this down for us thank you. for now you can catch most on demand on the portable t.v. app or simply check it out a portable dot tv and we'll see you next time. i
8:57 pm
. as the u.s. economy was booming gaining numbers of people were made homeless. you can work 40 hours 'd in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of we're not financially equality and the lack of affordable housing for a living minimum wage gave many people no choice though that's been a problem with the city knows turn to be excited called the stay way almost. before that there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become the invisible cops.
8:58 pm
problem drugs don't always come from unscrupulous dealers but from pharmacies too in every state in the united states we see me very sharp increase in the number of people seeking treatment for addiction to prescription opioids it invaded america under the banner of medicine persisted with the pain but instead of trying to wean him off though she did dose after dose after dose after dose and really became his drug dealer so who's to blame patients doctors manufacturers the government.
8:59 pm
will stop us. there was an insurer would you read of those lists initial what show just what that also has been. but so far we're short in months to draw. you will quote them. that it's all profit and there's a write up of court on but they were all wrong. 'd your opinion was that those later. for most of them there were still police and your. chum didn't want all the money. that in this. summer would put in there were no more than the boards.
9:00 pm
is there such a thing as public opinion a draw after to elections like you said david has been largely imperfect is there is more than just one. or 2 good reasons not to trust. in r t exclusive ricky leaks confirm the authenticity of a recording that could spin the narrative on julian assange it shows that the whistleblower did try to prevent not facilitate the release of thousands of sensitive u.s. cables it is claimed the courts knew about the tape when deciding on his extradition to america. it's evidence that you and i can point to prove that this is also. not new to the courts in the u.k. the transcript or through this conversation was presented to him but. also with covered 1000 cases creeping closer to 3000000 in russia next.


info Stream Only

Uploaded by TV Archive on