and one of them was radio free europe. the interesting thing here, though, is this was a big news story for precisely one day. if you think about what's going on here. thereclosed for 17 years have been this huge phony fundraising charade asking americans to contribute money. also was a large domestic propaganda and advertising campaign. it created a new story for one day. and it was gone. fakect, thereafter, the fundraising campaign continued. even after we knew the cia was behind it, media organizations, journalists, and politicians continue to ask for money, like it. like it never came out. it did not finally come to a halt until in 1971 when a senator admitted that radio free europe was in fact funded by the cia. he made this public. at this point it no longer had plausible deniability and so the government had to respond. a long period, a couple years of debate ensued. senator william fulbright was very powerful and very influential waged a person crusade against radio free europe. he called the relics of the cold war

be aware that europe as a matter of fact is not to fret. a window in europe is not a threat but it could become a battle zone in america and russia that's what's worrying most of the europeans i believe i remember you have said previously that of those want to see i don't think anyone wants to see europe becoming a battlefield that's why i'm asking you how can hear of help you know not solve this issue of an afternoon but clearly there is no way out right now you know purposely said that person americans and the europeans have made too many mistakes in the past towards russia that they misjudged to needlessly corner dates is this whole situation around the island after treaty basically repeating the same mistake you only with your new where you could do it that's it's let's be a bit spin doctors full of rove swords would be the. troops to govern during the is required if we were told. we're going to be uprooted in reflect. how to avoid the group of tensions between east and worse than this specially with regard to europe and very. very next

we are seeing it around europe. the market is willing to step in and at a reasonable price take on big chunks of peripheral paper. is that want to turn out to be a mistake? you take a look at the 30-year last week issued by italy, already trading below issue. you wonder whether or not the market desperation will put it in a difficult place. michael: very clearly, the demand for yield is still there. you have to counterbalance that with political risk. a lot of these are very long-term investments. you have to assume they will be able to ride through short-term correction. interesting question in italy is if they do go down the route of , doesn't end up being part of the government in the future? perhaps not. some of the risks of populism in italy might have been reduced. it does not mean the growth yield question is better. the political situation might get better after elections. guy: michael metcalfe -- vonnie: michael metcalfe, thank you. this is bloomberg. ♪ guy: live from london, i am guy johnson. vonnie: fro

,because radio free europe is the product. it is broadcasting overseas, behind the iron curtain, a place where americans cannot go, so they are asking donations from americans to contribute money product, radio free europe, this campaign asking for funds from american citizens endorsed by every president from truman to nixon. the interesting thing is the media continually supported this 1940 to them 1970's. asking americans for money. it came out in 1967 that the cia was behind this, as the result of an upstart new left magazine out of san francisco called "ramparts magazine," and it published an expose of a broad range of private american groups that the agency was secretly funding. most scandalous was the national student association, which was a group of college students who were anti-communist college students. and it turned out that this group was funded quite lavishly by the central intelligence agency. a broad range other groups were also exposed. what this article did that was really important is it traced the web the

were they worth it i mean did did you crane become closer to europe in the. i think of earthy progress we don't see the end of the final product future of of ukraine that is the ukraine of state now which is still very transitional i mean there have been progress. being shifts in the country you have a different mood to different generations. ukraine at some places before twenty fourteen you thought you were to receive the soviet union the mindset of it was still very soviet that's has completely changed the problem is that is still. still highly dysfunctional some old habits especially in the mystic's your sect you have on and reform sports that still do trouble. what about the consequences of what happened there at the my done we have. the russian presence in eastern ukraine we have the loss of crimea. yes. but on the other hand the war the aggression that the country faced sort of put people together. what makes a ukrainian that was a very fuzzy concept i don't say that it was cause for complete is split between pro western and for russian people because v

how was it funded, and how was the signal sent from western europe to eastern europe at a time when technology was very different from where we are today? keep in mind, this was a cia radio station. at the outset, the agency is concerned with how do we create a cover story to hide this? they came up with these -- the ingenious idea that they will create the fiction that it is supported by private donations. they created an elaborate fundraising drive called the crusade for freedom. .hat continued for 20 years it went through a name change in 1960. it went for 20 years, and each year, it asked americans to contribute money to support the cause of radio free europe. perspective,n imagine an advertising campaign that goes on for 20 years. it encourages americans to buy a particular product. that product,see can't use that product, or in this case, you cannot hear it. radio free europe is the product. it is broadcasting overseas. it is behind the iron curtain, a place where americans cannot go. they're asking donations for americans to contribute money, buy this product of radio free europe. i can

why parts of europe. and the nuclear world would be limited to europe was ending the positive about the treaty was that it was a confidence building measure which income in addition to the end of the cold war contributed largely to denuclearization of european security with going down from thousands of what points on both sides to lest than two hundred today existing in nato countries. but on the other hand the risk now is that it will take place the real nuclearization of the european security debate and also the european security situation so i want to come back to that in just a minute but staying with the contrast between nine hundred eighty seven and today the world has of course changed a lot since then so too have the parties to this treaty russia and the u.s. and the united states says that a newly revealed in this aggressive russia is not abiding by the treaty so i mean it's evolved russia being at least denies that who's right. difficult for me to tell. but most experts in the west actually say

europe is not part of this treaty but in fact europe is strongly affected by the outcome of the current era. of dispute chance ungrammatical at any rate certainly seems intent on a negotiated solution let's listen to some of her words and compare them with words out of russia. who insist gladys for us it's clear that russia has violated this treaty and that's why we must talk to russia? from the german side we will in any case do everything we can to make talks possible within the next six months. we don't display show through a movie can. unlimited comes to lead our american counterparts told is during the official meetings on various issues of disarmament and arms control. that the decision to withdraw from the i a group of the global order some their this is their ststatement. and we do. it looks at the somewhat contradictory those two statements -- do you think there is room for maneuver here. if both parties have to will to really negotiate that should be room for maneuver. but again i think -- they will only reno great renegotiate or safer treaty if they have the interest to do it

lots of europe was not devastated by it. the technology in those days was not enough to kill on the scale that later on became possible in the late 19th century. it was a war that drew in the resources of the nations fighting it. in a way, what it did is turn europe's tremendous industrial and scientific and technological advances against the european society itself and against any other society that got involved. we look back on the europe of 1914 and we are struck by what tremendous progress it had made. everywhere, of course, and not everyone had shared in that progress, but tremendous overall progress that was made in the course of the 19th century. europeans had enjoyed wealth on a scale that they have never expected before. they had enjoyed progress, economic progress, scientific progress, technological progress, political progress on a scale they hadn't expected before. they had come to dominate much of the world. european nations either wrote directly or indirectly over most of the surface of the globe. and europeans

difficult and sensitive area you want to keep nuclear weapons out of europe as much as we can as well as other as i say touch points such as the south china sea today with the chinese to introduce new nuclear weapons or missiles which violate the i.n.f. treaty that is missiles with a range of between five hundred and fifty five hundred kilometers would be a big step backward we've we've managed this treaty quite well for thirty years. the russians may have very well violated it we're not certain yet and that's what really requires right now more diplomacy and on site inspections and verification regimes rather than threats to pull out of the treaty the way trump has just announced well actually paul hang in there for just a second we want to play a bit of what president trump had to say today himself about this decision take a listen to one side has not put it here into it we have but one side has it so unless they get it here we should be the only one i hope that we're able to get everybody in a very big beautiful room and do a new treaty that would be much better. now paul you were

radio free europe? at aow is the signal sent time when technology was very different from where we are today? >> keep in mind this is a cia radio station. is concerned with how to we create a cover story to hide this. they came up with the ingenious idea that they are going to create the fiction supported by private donations. they create in elaborate fundraising drive. it went for 20 years and each year every year it asked americans to contribute money to support the cause of radio free europe. imagine an advertising campaign. only you can't see that product, you can't use that product, or in this case you can't hear it. europe is the product, it is broadcasting overseas. they are asking donations for americans to contribute money thisuy this product campaign asking funds for american citizens was endorsed by every president from truman to nixon. the interesting thing is the media continually supported this campaign from 1914 to 1970's -- 1942 the 1970's. 1940 two the 1970's. asking americans for money

and that donald trump is a very easy feat here to hate particularly in europe. so i think it's my my pants the vice president should know that by now and as i understand it he mentioned donald trump's names that really dozens of times is a very flattering speech to donald trump i think he should have maybe try to top more to his audience in europe as opposed to the audience of one back here in washington which is what he seeks have been doing so he both sides are to blame here i think it's a little petty frankly for the europeans to basically sit on their hands for an entire speech and i have vice president the united states it's the same time if they might hence he should have known better than to give such a sort of awning presentation about it as the president you wrote a piece that appeared in the washington post last week ahead of the munich security conference and in that piece you write as long as trump remains in the white house expect most european salt leaders to continue using him as an excuse to avoid contending with the continent's serious systemic

michael: europe. these guys are right, china has a lot of levers to pull, i don't think they are near the end of bringing down interest rates, providing inflation, can do more fiscal spending. you can argue the marginal benefits have declined, to because they cannot just build another superhighway or high-speed train. what is europe going to do to stimulate its economy? more negative interest rates? that will not work. it has not worked in any meaningful way. are they going to get together and encarnacion around fiscal expansion? i doubt it. we know the ecb has talked about we will see's, and more credit buying likely, but i'm wondering where this goes. can you stimulate growth in europe in a meaningful way? jonathan: that is what was interesting this week, krishna, finally some cracks in the central bank. the path to inflation will be shallower. the ecb will need to adapt. that is the most acknowledgment i've heard of the slowdown in europe from an ecb official for months and months. is it too late,

but it does not continue into europe. the german financial regulator bands new short positions on the stock. and leaving on a high. strong growth in the year ahead as it seeks a successor to its ceo. the stocks gain as much as 4.5%. good morning, welcome to bloomberg markets european open. i am anna edwards here in london. 30 minutes into your trading day, let's have a look at things on the equity space and how we are shaping up. this is the stoxx 600 making modest gains across european markets. the futures suggested we would be flat. we have a slight move to the upside. one of the biggest gainers this morning. if you look at things from a two of ourpective, big stories from a corporate perspective are up there. we also see the banking sector very well represented in terms of these moves to the upside. the optimism around global trade and a read across into global growth, we see things across the equity markets. let's look at the downside. investors are getting into banking and maybe coming out for some of these health ca

five, six years ago, the debate in europe was greece will live to europe. has greece left europe? no. they have left the financial support programme that taxpayers from germany and from italy at page very generously with all the credit and the admiration that the people of greece should get because they did amazing sacrifices and amazing effort. they are back on their feet. wrong what you are saying. it is factually wrong. they are back on their feet. treason has picked up. it is a success story for the european union. i understand what you say, but i don't think they are the same thing you are saying. also, i invite you to have a chat with many people of my age, i am 21, to have a chat with many people of my age, iam 21, i know to have a chat with many people of my age, i am 21, i know exactly how it feels not to find a job. and having to go somewhere else because thatis having to go somewhere else because that is what our generation is doing because simply, the economy is not working very well and there are hundreds of people going to northern europe. i would like to get more re

in 1956 there was an enormous scandal surrounding europe. -- surrounding radio free europe. there was a revolution in hungary, opposition forces confronting soviet tanks in the streets. and the allegations that came out were that the cia -- that radio free europe was promoting this unrest, promoting the revolution, encouraging people to take to the streets and revolt. that's still a very contentious claim. historians debate whether that's true. -- to what extent that's true. it's reasonably sure that whether they didn't say pick up a rifle and go shoot this guy, but did sort of create a ton of information that would have encouraged and gave comfort to subversive activity. as a result of some of the scandals come in from that episode, radio europe increasingly adopted the tone and tenor of a news organization who drive to to be more like the bbc. i don't think it ever achieve that level of objectivity or balance. but it did adopt the veneer of traditional news organization. me better understand how this all came together. first president harry truman, did president truman and

europe, for many of the components going in the cars. the idea of establishing more work in the uk, if britain ends up with a ha rd the uk, if britain ends up with a hard brexit, with a no—deal brexit, a tariff, britain becomes substantially a tariff, britain becomes su bsta ntially less a tariff, britain becomes substantially less competitive to make those vehicles in the future. very interesting. sorry the line wasn't great.. thanks forjoining us. and we'll be finding out how this story and many more are covered in tomorrow morning's front pages at 22:30 and 23:30 this evening in the papers. our guests joining me tonight are joe twyman, director of the polling company, deltapoll, and martin lipton, chief sports reporter at the sun. the tensions between russia and the united states have escalated further, with moscow saying it will follow washington in suspending one of the key nuclear arms control treaties. president putin said russia would stop observing the cold war treaty — agreed in 1987 to hold nuclear ambitions in check— an

europe hadn't lived up to its commit it has not and are you trying to tell me that europe has lived up to its commitments under nato is that what you're trying to tell me because believe me there is no belief or that on anybody's part that some of the european nations are not living up to their commitments and indeed look i've done this for ten years i've come over here and tried to talk to nato countries into living up to their agreements a padded us on the head and said all well we're on track to try to do this or try to do that i say i. really give a person trump a lot of credit because indeed since he's been in office and since he has underscored this there are countries that are making much better efforts to live up to their agreements and we look we're allies here you and i are arguing like we're on opposite sides need it was is an alliance that we all belong to that's a great alliance and the that we want to continue it's in your best interests it's in our best interest and argument can be made it's even more in your interest because you're closer to the issue than we are and

oid this is specifically targeted i just at the jews of europe. our research finds that this time it is very strongly correlated to other forms of prejudice to racism xenophobia and you really see that there were increases in people's distancing or negative attitudes towards jews just after the so-called migration crisis when actually some of probably an anti muslim actually just went up in europe so you could really see that the more racist attitudes dominate across europe to you know just become more more often discussed targets of scapegoating as well well it is very interesting because as you said and i'm bringing this question to good is that there was this huge wave of anti immigrant that brought all these populist governments or leaders it to the forefront across europe but it's very difficult to understand how it went from anti immigrant were mostly coming let's say from the middle east or africa how did that translate into anti semitism. i think yesterday there's a question here every time there's uncertainty and i think we're going throu

it is going down full time being but russian culture of these europe and we need europe as a partner and even as a country bones in the in the big game which we are entering of in the twenty first century. so saying that not only success these were also very bitter mistakes brought about by ideology call. logical mistakes and beliefs i heard you say before that contrary to popular opinion americans americans the way they act. is understandable and predictable from the russian point of view but the european behavior is inexplicable when you think about the european interest can you elaborate more on that one. well first of all. make a stand. i couldn't win the fight europeans because them they have made me in so many terrible mistakes and brutal one of the greatest. and of international relations in human history european union would have been the great city on the hill if with words to survive i don't think it will. but. europeans unfortunately have. been victimized by seventy years of. not thinking not working hard. and also relying on somebody else. they have been relying on in sec

that europe as a matter of fact is not to fret a we know in europe is not a threat but it could become a battle in america and russia that's what's worrying most of the europeans i believe i remember you have sat previously that group doesn't want to see i don't think anyone wants to see europe becoming a battlefield that's why i'm asking you how can hear of how you know this issue of an afternoon but clearly there is no way out right now you know purposely sad that person americans and the europeans have made too many mistakes in the past towards russia that they misjudged to needlessly corner dates is this whole situation around the island after treaty basically repeating the same mistake the only way you know you were you could do it and that's it's let's be a bit spindle this. for both sides it would be. called should sit together during. a quiet weekend with. us and it will be a putin in reflect to how to avoid the growth of tensions between east and west and the especially with regard to europe and then. the next step would be that. bar call should discuss the same question with

hello and welcome to focus on europe i'm liable we begin our program in europe's poorest country moldova high unemployment has caused a mass exodus of people struggle to feed their families all the poverty is most evident in the rural areas where many villages are usually empty around half the population has left to find work in other european countries those who stay make ends meet by selling their possessions and smuggled goods well at the heart of the problem is corruption frustration with the government in case she now has caused many to give up on a future in moldova and upcoming elections have failed to spark hope for change but some moldovans have opted to stay and fight for its future. most of the roads in moldova are pretty bad driving is a real challenge the infrastructure has been neglected and poverty is widespread. marianna took on works for a program that encourages young people to stay here. instead of moving to other countries the immigration rate is unusually high. there's no one left to do the work my parents live in a village and they're really sad about that all the r

it is not the same story in europe. is your sense beginning to change? structurally, you are right, the u.s. has difficult to get excited -- difficulty to get excited about europe. about noware talking is indeed an economic cycle and the impact they are seeing on their businesses of course. but also, the impact on the uncertainty around brexit and how that would affect the rest of europe. there are no winners there. there were for the european economy -- that is the way they see it, and that could have a further negative impact on the european cycle. -- other things around it if around if the european cycle slows further, is there then going to be a little bit more friction between, so you could have a spread widening on the back of that. guy: an indication that the tension is rising, certainly between paris and italy. we are going to leave it there. strategistef market at hbc private bank. >> let me get you caught up. former trump campaign manager paul manafort may not be out of trouble even if he gets a presidential pardon. new york state prosecutors h

europe, japan, zero. alix: if you look at the german investor surveys today, there confidence -- their confidence in the future outlook not so good. you can see china is the yellow line. does that mean you need to buy small caps, not international stocks? in: we are focused on x u.s. particular and more developed markets x u.s. alix: they have to have exposure to their consumer or the chinese consumer, asian consumer? what is the best? jay: in europe, the consumer discretionary trades at half the multiple. opportunity in terms of valuation is still in the balance. we are more on the opportunity side than the trap side. when we get that bottoming and investors can see the trade deal, take that uncertainty off the table, bottoming in china growth and european growth, you will see good performance on some of those markets. david: thank you for being with us today. coming up, a new agenda for washington, maybe. bernie sanders announces his run for president as elizabeth warren proposes a new tax on the wealth

buy parts of europe the and look at what would be limited to europe -- was ending. the positive about the treaty. was that it was a confidence building measure. which income in. addition to the end of the cold war. contributed largely to denuclearization of european security. out with. going down from thousands of weapons on both sides of the tool lest. than two hundred of today existing in nato countries. but on the other hand the risk now is that it would take place the reno clarification of the european security debate. and also the european so when i come back to that in just a minute but staying with the contrast between. the nineteen eighty seven and today the world has of course changed a lot since then so to have the parties to this treaty russia and the us and the united states says that. a newly revisionist aggressive russia is not abiding by the treaty serving as the boat russia vehemently denies that. who's right. it's difficult for me to tell -- but most experts in the west actually say russia has this cruise missile and it violates the imf treaty meani

europe. this actually was the brainchild, in some ways, of george cannon, who i mentioned a moment ago. he is kind of the father. his activities led to the creation of frank wisner's office of policy coronation. and he had in mind we need to fight the communists at their own game, fight fire with fire, so they created this office of policy coordination as a means of doing all the kinds of things americans were assuming. so one of the ideas was, let's organize all these exiles from europe. these are people who for a variety of reasons either escaped the nazis in the early part of world war ii or the communists after they took over power in the 1940's. let's put these exiles to work. i know the language, the history, the culture. let's put them to work, engaging in propaganda in support of the liberation of their countries. so what they proposed to do is create this powerful radio station. in time, it would become the most powerful radio station in the world in terms of broadcast signal strengt

on to europe, do you think that that is what would tip our bond markets in europe into negative? we are so close to negative territory. a defining moment for the ecb and rates in europe if we get tariffs? shamik: it could be. and clearly, i guess, one of the messages the u.s. administration is taking from the current tariff war is that tariffs work, or at least, they bring the issues to the table. yes, it's possible the imposition of tariffs could be the thing that pushes the eurozone towards negative on deals. frankly, i think there are fundamental issues that are actually a bit more important. i think the issue with the eurozone remains the fact that it is frankly over dependent on global trade conditions and not generating enough domestic leave it its own to resilient to shocks like changes in tariffs, so i think there are two questions. one is what the reaction to the tariffs will be, but also what the implications for domestic policy both fiscal and monetary are. nejra: there is a lot of focus in asia on what we have been seeing coming out of japan and south korea. he bellwe

americas in europe why the sale of cannabis was illegal until twenty seventeen. nineteen collapsed so does not want us to say exactly where we. behind this election fight fence is the marijuana plantation he attends with the other members of his cannabis club. growing and consuming recreational kind of base under strict conditions has been legal and here a guy since twenty seventeen. might be a good source for more and more people here except cannabis. has consumers we now have the same rights as everyone else who consumes other drugs such as alcohol and tobacco so much for a deal of. the secure storing of his cannabis club contains last year's harvest more than one hundred twenty kilos sorted by variety some mild some strong. they're for the exclusive use of the forty five members of the club that's the law. he's going to deliver a batch of the homegrown we each to the club in the capital montevideo a laboratory analyzes samples and the individual packs are clearly labeled as to content and strength. it's a radical change that we can now grow it legally we used

europe of the europe that's the europe of the elite now they are very angry about the government of the people they are very scared about a new election in europe and in this case we are sure the people of europe will change the government of europe that now is. keep in the hands of few people. your special envoy for the now as well or. has had to face accusations of lying and in appearance before the house foreign affairs committee spoke about washington's af or its to install opposition leader. then as well as president but there were some tough questions one thousand nine hundred ninety one you pleaded guilty to two counts of withholding information from congress regarding your involvement in the iran contra affair i fail to understand why members of this committee or the american people should find any testimony that you give today to be truthful vika responded that wasn't a question i went on with that that was not that was not a question yes or no do you think that massacre. was a fabulous achievement that happened under our watch that is a ridiculous question and i guess our

we will focus on europe next. this is bloomberg. ♪ nejra: this is "bloomberg "aybreak: europe. manus: i am manus cranny. let's give you a quick look at markets. the prospect of a shutdown being off the table. the dollar is up for, the longest winning streak we have on the dollar in nearly three years. is there a structural challenge or is it a yield differential story that continues to drive that? the reason we have that up for you, it is day nine on the dollar, not a eight. jgb's still in negative territory. of price -- in spite cuts. nejra: last week was the worst week in between 19. things are getting caught up in the broad risk rally we are seeing in these markets. the euro bouncing back slightly, it hit a 2019 low yesterday. talk about dollar strength, the yen also hitting a low. you talked about european futures pointing higher, your futures are doing the same from a bit of a lackluster session. but get the -- let's get the blumberg business -- the bloomberg business flash. was among the companies to invest $300 million in the link sharing site. took [indiscernible] depic

this is the developing picture across europe. we are as expecting seen some muted moves to the downside. let's look at the sector picture. a bit of corporate reporting to focus in this morning. financials and focus. hsbc. weaker in the asian session. sectors, both materials looks negative. financials looks negative as well as health care. energy giving a bid to the outside. bp is the biggest point scanner. the biggest scanner by percentage terms if we pull up the mov screen, this is a supplier to the aviation sector. i mention this one just before the break. let's look at what else is on the move. air france, klm. lots of aviation. definitely an aviation theme of what we're seeing moving to the upside. business isbakery doing well. that stock of more than 5%. pandora is one of the biggest losers. bhp in there as well. done by 2.7% for that mining business. no new cash for shareholders. there is worry about iron ore prices for this is what we see at the moment. negative for bhp and hsbc. european equity markets. opening slightly l

these days it's a common scene in europe. and the police don't bat an eyelid. consumers who don't grow their own weed either by themselves or in a club by eat at a pharmacy. alongside their meds and health care products you'd expect to see here there's more to pipes and cigarette papers than of that cannabis paraphernalia. he uses first have to register with the authorities before they can actually find marijuana. this is my first time buying dope in a pharmacy i'm going to enjoy it straight away. and this is who was going to have to go to shady dives to get weed on the black market and it wasn't easy and it was dangerous to get a platter of. the pharmacists have to do an id to check on anyone he wants to buy cannabis thumb scan links to the official database of registered users. they're allowed to buy up to ten grams a week purchases are recorded. but out of order he wouldn't give me any i must have already. bought some this week though i can't remember funny i must of forgot i'm a bit absent minded if. this is one of the few pharmacies in the country that hav

and that donald trump is a very easy feat here to hate particularly in europe. so i think it's mind my pants the vice president should know that by now and as i understand it he mentioned donald trump's names at least dozens of times it was a very flattering speech to donald trump i think he should have maybe try to top more to his audience in europe as opposed to the audience of one back here in washington which is what he seeks have been doing so he both sides are to blame here i think it's a little petty frankly for the europeans to basically sit on their hands for an entire speech and i have vice president the united states it's the same time if they might hence here should have known better than to give such a sort of finding presentation about it as the president you wrote a piece that appeared in the washington post last week ahead of the munich security conference and in that piece you write as long as trump remains in the white house expect most european thought leaders to continue using him as an excuse to avoid contending with the continent's serious

and in parts of europe. about russia or in parts of europe and i feel in a sense the i don't know what russia or china can do as they get pushed further and further into position they never want to be in but where where then the options for russia then are the options for china china will not back down the you know the technological this is written into the text of the chinese communist party. manifesto it's now the destiny of china is to rise and become a first great power technology logically it doesn't mean belligerence but it means they intend to and are going to it's not something that is really going to be possible to stop but all the tools that america is using energy dominance dominance in the financial system technology but the energy dominance is intended to be able to consider contain china economic to russia as well with good nor extreme in. their initiatives and you see therefore you see the blueprint iran is the blueprint thank you for bringing that up because it seems to me as this you. in a p

ina: in europe --alex: europe, they rolled out slower than the u.s. because it does not have the same financial imperatives as in the u.s.. 5g they use more quickly to get people into their networks. in europe, the cost of the network is a lot lower, therefore harder for them to get the return to 5g. those investments will happen in the next year or so. now is when they have to say, this is what you should do. francine: who is up for using huawei and who is not? alex: clearly, the chinese want to use huawei. the u.s. is not using them. they said they have not used them for a long time. in europe, they have quite high market penetrations. be more of it might the network for companies like deutsch telecoms. it is a high cost. francine: are you invested in telecoms? maya: i am an asset allocation person. probably not the best person to comment on it. francine: does it make a difference to how -- this goes back to framework. backthe conversation comes to different industries in the same place. we have boosted corporate profits as a share of gdp 30 years i

and he came to europe -- this was promoted by his supporters -- that he came to europe as a medieval knight dressed in shining white and bringing gifts. and the europeans were waiting for him blackhearted as usual. and that is not true. the europeans certainly had their own views of the kind of world they would like but i think many europeans shared the views of woodrow wilson which he expressed so eloquently, that a better order and a better world could be built. , he he arrived in europe was greeted in many countries as a sort of savior. people called their children after him and streets after him. even still, there are streets named after him. italy, you would get piazza woodrow wilson. latehis boat landed in 1918, he took a train to paris and his doctor, who was on the , he saidt up overnight huge crowds turned out. the doctor got up during the night and looked out the window and there on the railway tracks standing bear were french men, women and children that wanted to see the train go by. there was tremendous support to build an international order in which nations of the worl

the message to europe if the u.s. deploys new intermediate missiles here the continent could become a battleground once again. german foreign minister heikal mass was quick to state that germany would oppose the deployment of new u.s. missiles. most other western europeans have a similar view. but eastern european countries such as poland and the baltic states see things differently they regard the presence of u.s. troops a nuclear weapons in europe as a shield to protect them against threats from russia. the nato secretary general is keen to put on a united front. not articulate it does not have any plans to deploy a new land based nuclear missiles in europe we have many other options and we look at the. moscow managed to drive a wedge between european states when it comes to nuclear arms. so i don't pose no let me take us back to your opening statement you say the west could quote unquote win a new arms race if it stops yammering and simply builds missile systems and installs missile defense but if german foreign mi