A Brooklyn Nets owner type of machine criticize maurice tweet saying that while freedom of expression is a right some topics are minefields in some countries societies and groups supporting a movement and chinas territories is one of those minefields the relationship between china and the m. B. A. Is a multibillion dollar marriage that involves media rights streaming merchandising licensing and much much more its a market that the n. B. A. Has been planting season for over 3 decades nurturing it and growing it to the 500000000 fans today translating to over 4000000000. 00 the Houston Rockets furthermore is the biggest team brand within the n. B. A. As this was the home team of the yamaha who is now the president of the Chinese Basketball Association this entire franchise is now at risk as politics has bled into consumers and entertainment to quote yagi people none should its own was high mazzone was you cant profit off of china and in this. Condemned china here to give us the full scope of the Economic Impact of such recent moves and so much more were happy to welcome Richard Wolfe professor of economics emeritus at the university of massachusetts amherst and the author of democracy at work so professor wall of right now nike shares fell after c. C. T. V. Sports said that they would suspend n. B. A. Broadcast which attracted some 800000000. 00 viewers last year nikes aggressive china Growth Strategy coupled with its connection with the m. B. A. Made it extra vulnerable to consumer boycotts in the weeks and months ahead nike has previously relied on china for double digit growth in the region for every single quarter for more than 5 years so how will they navigate this as a Consumer Brand as its just so easy for any consumer to just substitute with a domestic brand such as the name or even adidas. Well i think youre seeing a learning curve i think youre seeing american corporations and indeed corporations in other parts of the world recognize that their future depends on the growth of their business in china it is the most rapidly growing collection of possibilities for corporate growth that exist on this planet and to be excluded from that is to really humble yourself and if youre going to be part of the chinese explosion of Economic Growth then youre going to have to be sensitive to the issues that concern the chinese you dont have to agree with them you dont have to suspend freedom of expression none of those things theyre really side issues the question is are you going to attack areas of sensibility that perhaps the best way to understand it is to imagine if a Chinese Company came into the United States and one of their highest officials made statements about the cruelty to immigrant children being put in cages or the phenomenon of white policeman shooting black citizens and so on it would encourage a firestorm of upset anger political interventions you dont want to do that if youre going into an Economic Situation of growth its mind blowing that the people at the used rockets didnt know enough about china to understand that in china the understanding of whats happening in hong kong is not what we have here in the United States and its not a question of debating that question its a question of understanding if you inflame the situation theyre going to be consequences for your own Economic Growth so the consequences now is those thats debate of can the rockets fire morry over this tweet and if so will it be for cause or without cause without cause will lead to a large payout for morry but with cars will be highly controversial as will it be a civil rights violation over his freedom of speech or will this be about the monetary damages that he that has caused the team so either way it leaves them very open to a countersuit so what do you think. My guess is that both sides here want this to go away the purpose of the chinese expression whether its the citizen in the street or the government or a politician is to make the world clear that youre not going to come into china take advantage of our economic miracle here d and be able to insult what many of us feel you cant do that but they dont want to lose the n. B. A. Its very popular in china there the chinese are more interested in basketball than any other sport in this country so thats a great growth area for American Business they dont want to lose it the rockets dont the n. B. A. Doesnt night he doesnt theyre going to figure out a face saving way to get beyond this and hope that the lesson has been learned so people arent quite so glib with their freedom of expression if they dont want the consequences to hobble their Economic Growth so lets talk really quickly about some of the most expensive tweets and how much revenue businesses can possibly lose in less than 60 characters which is actually a pretty impressive accomplishment in its own right so iran must once tweeted and that cost samsung nearly 600000000. 00 kylie jenner cents down about 1500000000. 00 how much is this tweet going to cost the n. B. A. In the short run its costing them already huge amounts of money canceled games that would happen in china canceled contracts but theyre looking at an unknowable amount because the question is in every negotiation in china now this issue is going to be the fly on the wall the the only invited guest that will shape every contract every negotiation that goes on from this point this is something that the n. B. A. Not only didnt want they want the opposite of this they want smooth sailing into an expanding chinese economy so its hard to know a number. Were here but youre going to see a lot of effort off the record of the of the Houston Rockets of nike and all the others that are involved here to promise never to do this again to take extraordinary steps to repair the damage theyve done to learn more about how the chinese see the world so that they stop that bad american habit of thinking the whole world looks at it the way we do year and the way we dont even agree in this country let alone the way its portrayed abroad so its a learning lesson but i think youll get beyond it because everybody has so much writing on getting beyond so while the Political Tension between china and the u. S. Is clearly spilling over to consumer and entertainment segments lets turn our back to washington right now so i had a thursdays train to go shares in the u. S. Is blacklisting a group of 20 a Chinese Tech Companies that includes vision and that develops facial recognition and ai so this blacklist effectively bars u. S. Firms from selling technology to companies without government approval why is the us once again escalating into negotiations that trick has never worked with china the last 12 times why expect it different outcome this time. I think you in a way youre answering your own question youre absolutely right crazy thing to do going into a negotiation it basically destroys the whole chance of working something out and youre basically correct as well that the chinese have never bent to this so why do it the answer is its about domestic american politics mr trump in deepening economic and political difficulties has to have an ongoing drama all down higher tension lowered hes got to keep this going until the moment he thinks its correct to cut a deal with china to portray it to the American People if he can as a great victory whatever it really is and the hope that it helps a bit in the election thats whats going on think of this as a dance to which the chinese are invited but its a dance completely choreographed by mr trump and his drive for reelection so not japan and the u. S. Have just signed a limited trade deal that opens up markets for American Farmers and brings tokyo a degree of assurance that trump wont impose new tariffs on auto imports for now Prime Minister our goal was to win a pledge that the u. S. Wont flap tariffs on autos but the written text doesnt explicitly cover tariffs so heres what President Trump said in the deal on monday in washington. In the United States these deals are a game changer for our farmers and our ranchers our Farmers Ranchers and growers will now be able to compete fairly in japan against major competitors swirled would. So this actually looks like this was more of a lose lose deal as the Agriculture Agreement didnt even compass what was previously done and its he so it was this deal rushed as both sides didnt really get what they wanted. Absolutely again i dont mean to be a dead horse but mr trump has to get something somewhere so he has this agreement with the japanese lets make no mistake china is an enormous country by comparison population wise japan is a small country japan cannot pick up the agricultural exports of the United States that could of and were going to china so this is not a great solution for American Farmers it is a very poor substitute for what they are losing in china number one and precisely because it doesnt really buy into anybodys hands theres nothing that japanese can assume to rely on theyre going to have to make deals with australia with argentina with the other agricultural suppliers that they have to rely on the chinese are busily finding their own substitutes this is mr trump making something out of very little to look less like hes caught up in a global trade war he cant control which is unfortunately exactly the situation he has gotten himself and all of us into a fascinating insight professor richard well thank you so much for being here. Do. The Hong Kong Boris has scrapped its unsolicited 39000000000. 00 bid for the London Stock Exchange group after failing to commence management and investors to back its move the l. S. E. Board rebutted the offer on grounds of strategy not price many analysts now believe that the political turmoil engulfing hong kong was seen as a huge obstacle to the deal ha x. Is offer was the latest attempt at an exchange mega merger after multiple failures between the l. S. E. And the deutsche of burrs over the last 17 years a strategic merger of the 2 businesses would have created a world leading Market Infrastructure group fitting end to exit strategy of being china anchored and globally connected h. K. X. Has been the Worlds LargestCapital Raising venue in 5 of the past 10 years but has been working to diversify its equity focus launching a bond Trading Platform and buying the London Metals Exchange l. S. E. Is now free to go ahead with the plan acquisition of data and Analytics Group refund. Time now for a quick break but hang here because when we return despite big recent rollercoaster the future of the currency may be brighter given the state of Global Economics cryptocurrency analysts bands one and rocky miller busy enjoying the show to delve into or protect wine and emerging there and as we go to break here the numbers are the. Oh oh oh. If you. Mention. Below because. Of this connection to moment a lot of them should ask for the astrovan he had seen and done to this day for the dutch girl who should. She. Choose to shoot on disk in the. Asian community. Teach it mom. I know you care so said im not going to march to the mama just back. And. Talk about one of the worst cases of Predatory Bank stirrers defrauding and abusing the poor and sick that ive seen in a couple years you know we have energy issue that many instances of bankers preying on folks and this is this is a this is really happening. The British Government says it is essentially impossible to make a brags a deal ahead of the october 31st. Line is the e. U. Sticks to demand to keep Northern Ireland as part of the us Customs Union the comments came following a call between the british Prime MinisterBoris Johnson and german chancellor Angela Merkel on tuesday currently there are no custom checks on goods between the e. U. Member ireland and the u. K. s Northern Ireland both sides agree that this should remain the case however with britains plans to leave the e. U. s Customs Union the status of this remains in the air while mr johnson has called for a face to face talks between british and e. U. Leadership European Council president tusk issued a tweet very critical of Boris Johnson saying whats at stake is not winning some stupid blame game at stake is the future of europe and the u. K. As well as the security and trust of our people you dont want to deal you dont want an extension you dont want to revoke quite a lot of. Privacy coins now face an existential threat from a step up and regulation these include narrows the coin dash among others many exchanges are now delisting these assets rather than trying to figure out how to hear 2 additional Risk Management requirements for these coins but isnt privacy a fundamental right here to examine this issue and then others as crypto analysts fenceline and rocky miller of business in so rocky i want to start with you i guess is most appropriate question for you as the c. E. O. Of that c. N. Trading platform narrows the cash declined they had a cumulative market cap of 2500000000. 00 and are some of the most liquid and valuable points precisely for the reason that they are private so that does not automatically make them non compliant with f t a s so and yet you still have these the list is going on acquiring base and ok x. So what do you stand on the well you know allow private sequence to be traded. Yes well we have exchanges you know such as ok x. Delisting reader we also have exchange like buying instead of added 3 privacy coins to their lending platform so i think. Areas still out a lot of the exchanges are reacting. You know reacting to what the regulations are going to be an erring on the side of being conservative from our perspective were Trading Platform that connects to multiple Liquidity Sources so the the jurisdiction of the customer and the jurisdiction of the exchanges kind of decide what theyre going to support and we aggregate that liquidity so if theyre supported in the exchange that we connect to they will be provided on the platform so then on that i want to bring up. The u. S. Congress is considering now more than 20 bills and one of them if passed this will be the 1st time a specific crypto the pacha has been deemed illegal for americans at home or abroad to use the implications of this are huge as this basically sets a precedent for the banning of any other crypto in the future whats your take on this. I think it is exactly that i mean i dont think its very surprising to think that congress would take a look at this because the the whole concept of what theyve been mulling over for some time now has been how does the u. S. Continue to cinching countries when those countries are moving toward creating and developing their own crypto currencies and theres been a fear about this for some time but youre absolutely right kristie that the bigger issue here becomes when when the u. S. Government begins drafting laws that specifically target a particular currency and make it illegal and i think if you see it happen here specifically with the petrol which is an easy one i dont think theyre going to have a difficulty because nobody in the u. S. Congress is going to defend the petro if that happens and once that happens it becomes easy to start picking and choosing which kryptos you want to make illegal as well and unfortunately that plays into the whole issue of cronyism and which crip those in which companies now work with regulators and with the government to eliminate competition whats made krypto such a vibrant spaces all the competition that exists there right now. So rocky do you think that could lead to usage of all the crypto is being criminalized in the us in the future. Yes overdyed in terms of the language used in the bill i think the one that really struck me is that this is opening the door for a much larger investigation so you know the treasury secretary you know going to be working with the f. C. C. In the c. Of c. On analyzing the general crypto space and Digital Assets and where theyre being used to circumvent sanctions and. Money laundering Money Laundering issues so i think that that that is definitely a much wider nest and with this investigation we dont know whats going to come so yes theres definitely a risk that this will lead to others and you know as ben pointed out this sets a precedent for others to you know to come and weve seen this happen globally you know china has kicked out all the exchanges you know outside of its borders we at the same time talks of them developing their own National Crypto currency so you know i think this opens up a big question for us is the benefit of a borderless you know currency does it outweighed the benefits of a National Crypto currency thats thats controlled by a National Govern