The Global Economy is on its way to a long lasting global recession and its latest Global Financial stability report the International Monetary fund said the bank sector will struggle to generate profits through 2025 and White House Health adviser Dr Anthony Fauci told the n. B. C. Prolonged lockdowns could end up causing reparable damage while still warning that states over relaxing social distance restrictions too quickly well new Coronavirus Infection surged in latin america the region surpassed the u. S. And europe with the largest number of new cases in just one day and mexico are also contributing to those high numbers Mexican Health authorities reported a daily record spike of more than 2100 73. 00 infections on thursday alone while argentina pushed its critical deadline for its 65000000000. 00 debt latin americas 3rd largest economy agreed to continue talks with their creditors through june so. And in a rare move china dropped its g. D. P. Target for 2020 the worlds 2nd largest economy made the decision this was due to uncertainties over the coronavirus of chinas economy contracted by 6. 8 percent in the 1st quarter well it was as its 1st decline in more than 4 decades and in a Virtual Meeting the World Health Organization said its working nonstop since the start of covert 1000 to really help coordinate a response to this the beginning of the fundamental doubloon jobs word day and night to coordinate the Global Response to the levels of the organization we are today did the plan earlier this month weve done an estimate that joe really grown 1700000000. 00 is dollars to fund a response to go 19 this year. So far almost any 200000000. 00 u. S. Dollars has been plagued or deceived leaving just all that 900000000. 00 this comes as Oxford University announced plans for its vaccines to start phase 2 trials the University Said its looking to recruit up to 10260 adults and children the 1st trial result is all that are involving about a 1000 people have not yet been released. U. S. China relations are under more pressure as beijing was to impose some Controversial National security laws on Hong Kong Well this was a centrally put an end to hong kongs antigovernment protests that rattled the region last year for more we turn to the best cohost Christine Christie how are the markets reacting friday to this escalating tension between the United States and china. Well right now it seems we are back to precursor on a times where the tensions between us and china are rising again and today while the major indexes plunged as morning were still sitting on top of some pretty solid gains for the week primarily led by the russell 200 small caps that are up about 7 percent for the week now the plunge today resulted from overnight news where china released the draft legislation over the new security measures as you just said but that was nowhere near as bad as what the Hong Kong Market saw the benchmark saying index drop more than 5 percent on friday which is the worst one day percentage drop since 2015 now the hong kong dollar traders right now are especially susceptible because theyre seeing unprecedented screens in liquidity as well spiking to new all time high surpassing the levels even seen during the financial crisis now this new law sparked by the news that china is now set to stylish a set of laws related to National Security to meet boated on on the 28th well let me ask you this now the ministry of Foreign Affairs actually had a response of their own to us take a listen. To the National Security laws legislation on the special Administrative Region do away with me here really chinas internal affair and no foreign country has the right to tell you that we Chinese Government is determined and safeguarding National Sovereignty security and Development Interest trawling through years of policy only one country 2 systems and then opposing any external interference in hong kong. Weve heard this rhetoric before it sounds like a record broken record player the u. S. That should stay out of chinas internal affairs how is this going to play out and how is the u. S. Going to respond to this. Well this is what were witnessing right now is basically just politics play out on the world stage and thats what politics really is its influence and control so this entire thing is about control and seeing who blinks 1st so as soon as a coronavirus news start to fade you have washington striking back at our limiting chip sales not only on u. S. Companies but also on Foreign Companies as well. So then why is that not considered overreaching to get a Foreign Company to submit to washingtons decisions on washingtons demand how is that not overreaching when china is merely trying to bring home back on there is one country 2 systems where as just said in the name one country is that overreaching to be trying to dictate some law some new mandate on your character ari so right now were seeing another tip for tat battles going on in washington wants to make life difficult for fall and other trades companies i delisting or restricting how to Market Access china on the other hand goes ok we will establish National Security laws in hong kong and im like what im pale as saying that this is a death knell for they city state autonomy thats not really chinas intent at all the real attend intent is to cut off u. S. Influence in the territory now hong kong is currently home to over a 1000 u. S. Businesses and now these new laws will certainly put the future of these businesses at risk but pension and forcing them to relocate thats right there are a lot of u. S. Businesses there we know that the United States trying to phase one trade deal china said that they were still going to hold up to those that phase one deal the promises that they made back then but well see how this plays out because it does all end up turning very much political boom bust cohost kristie i thank you thank you. Supply chain 1st several sectors have ravaged the economy since the start of the pandemic well the Auto Industry has been hit hard but its not stopping 2 european Auto Companies from moving forward with the merger chrysler and frances p. S. A. Owner a few have not changed their terms for the merger deal that would create the worlds 4th largest carmaker for more we are joined by lauren fix our lauren good to see you. Good to see you as well all lauren this deal was made months ago this was pre pandemic and many thought the deal structure would change given the Market Conditions right will turns out the deal hasnt changed and chairman john said that that the details are actually set in stone is this an overly confident statement of on the chairmans part. You know this contract is already set in stone it was supposed to be put in place the 1st quarter of this year because of coven they moved it to a year from now but it really is going to help bolster the italian Auto Industry which is really what its all about so its a 5050 merger and since this is already in place theres not going to be a chance to change it were talking about a special dividend of about 6000000000. 00 so that will also go back into the economy so that could help italy a lot. Stuff only something that they need given the circumstances now lauren when we last spoke we discussed just how heavily the United States actually relies on mexico for auto parts when it comes to manufacturing about 40 percent it was now currently there is there is some conflict in our neighboring country over its Electricity Generation companies from Foreign Investors that provide these renewable clear power are in conflict with the government because those governments also provide their own electricity and how is all this affecting the Auto Industry and how is it going to affect the Global Supply chain. Well its starting off with the plants themselves who are 44. 00 test plants are going to be solar and also wind the thing is they only have 23. 00 of them that were in test mode and the federal government of mexico said we want less private sector and morgue. Government controlled electricity they want to rely more on fossil fuels and coal because theyve got a problem going on right now throughout the country and until this is under control and they dont really have real numbers like we do in other countries theyre saying we dont want to invest in this but they have allowed 23 of these plants to continue producing electricity because you need a lot of that in order to produce vehicles so this also leans into the supply chain if theyre not producing product in certain areas of the country and that means its not coming to north america or other countries and this is actually causing a slowdown in production with General Motors theyre most profitable segment pickup trucks so their 2nd shift is not running theyve only got one shift running right now because they dont want to run on the parts and thats something that could potentially happen they are seeing that they might be looking into some lawsuits for that as well and down in mexico yes but also lauren changing gears here a little bit this week 2 americans Michael Taylor and his son. Peter taylor now they were arrested over allegedly helping former Nissan Motor Company chairman flee japan he was facing charges on financial misconduct they could be extradited to japan and they face up to 4 years in prison now there has not yet been a formal request for a formal extradition request from japan what do you see that the future holds for them. Well that we dont know they have to have a formal request right now the the older person the gentleman whos the father is an ex greenbury so they were possibly part of it they were in japan during the time of carlos ghosn diskeeper there were also 7 people who are from turkey that were arrested it was for people that worked with them 2 of them were pilots and 2 flight attendants so we dont know whos involved in what but right now obviously theyre trying to cover themselves because karl is gone said he was a hostage and now he is free in his country of lebanon and supposedly hes working on a movie end of books are the real curious to see what he has to say you know will the whole escape from from japan was definitely an interesting one so well be sure to follow it to see what happens here lauren fix the car coach its all the time we have for today but thank you for your time. Thank you. Markets are mixed this week amid growing u. S. China tensions and hope of a possible corona virus vaccine lets start in russia where the mo x. Is up on the week the ruble hit some 10 week highs on thursday at 71. 00 versus the u. S. Dollar but it weakened on friday as oil prices slid Russia Central Bank said friday there is no need for negative Interest Rates but it is expected to cut rates by 100. 00 basis points in the month of june while moving into asia the shanghai composite its also down for the week taking substantial losses on thursday and friday as tech and semiconductors really took a hit to close out the week in hong kong the hong saying also down for the week this is due to the ink. Tensions between the United States and china will the index fell by 5 percent on friday alone with china set to impose this new National Security law in hong kong to combat the months of antigovernment protests now to japan where the nikkei is actually up on the week were seeing a green arrow here gaining just shy of 2 percent for the week the nikkei did take a hit on friday losing point 8 percent this was due to some of the factors that we just mentioned in india the sensex is also its up on the week well this is despite the reserve bank of india taking an emergency measures on friday the worst to mitigate the economic fallout of the coronavirus cutting the repl rate by about 40 basis points down to 4 percent in australia the a. S. X. Now or seeing another green arrow for the week after some big gains on monday the a. S. X. Was relatively stable throughout the week but it did take some losses of just under one percent on friday Mining Company b. H. P. Group led gains on the week jumping more than 12 percent now in south africa the sea is also on the on the green this week this is despite diving on friday after the countrys central bank slashed Interest Rates by 50 basis points will now lets move over to europe where the 3 major indices are up for the week in london the footsie 100. 00 ended up in the green but it closed out struggling as a rise in u. S. And china tensions continues to weigh on Investor Sentiment the german dax and the french cac also ended up on the week but it took a hit on thursday of one point point 4 percent and 1. 2 percent respectively eurozone up p. M. I. Was at about 30. 5 percent for may this is a substantial jump from 13. 6 in april so there is some hope for an economic recovery as countries for their ease lock downs and their stay at home orders and weaving across the atlantic brazils evo best buy also on the on the green this week this is after brazil stock market well it is down however. About 48 percent for the year in terms of dollars but Goldman Sachs did point out brazilian stocks are an ideal bounce back candidate well moving north so mexico where the b. M. D. Is down on the week the peso looks a bit stronger on the week as the mexican economy did start to reopen but it was unable to stop a drop in the market at the back half of this week in the u. S. All 3 major indices the dow the s. And p. And the nasdaq are all up for the week this is bringing the overall New York Stock Exchange positive u. S. China tensions just simply werent enough to drag down markets more positive to vittie about a possible coronavirus actually helped push things up here in the United States and finishing things out in toronto the t. S. A. Also up on the week on friday the composite did finish on a downward trend as it weakening oil prices pushed Energy Stocks lower and that is your Global Market walk. Time now for a quick break but hang here because when we return despite nearly every sector being hit by the front of us pandemics the Defense Industry is actually thriving and this is after workers for the industry were deemed essential as we go to break here the numbers. Are no offense but you no longer a young woman in fact you are one of the last living survivors of the nazi yeah. Im aware of it. All you like. You know that you. Know i was really like to be in the high. Because you would never believe that one. Can do 2 as a copy of a course for 32 years of the curb it. Seems a lot over time. When i get out on the farm saw you. Next list and hopefully bless god heard screams. Israel media a reflection of reality. In a world transformed. What will make you feel safe. Tyson nation will community. Are you going the right way or are you being led. By will. Watch is true watch his face. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallows. The goal of the Federal Reserve bank would be to take the American Economy private that is to say it went by all stocks all bonds all property and now Deutsche Bank and other banks are saying yeah theyre going to print 130. 00 trillion dollars theyre not going to stop at 6 or 7 trillion the number of dollars going to print is going to exceed the g. D. P. Of america by a huge factor and theyre going to buy buy everything same with the other 3 or 4 major Central Banks around the world this is what neo feudalism looks like. While the majority of the u. S. Economy suffers there is one industry that booming weapons american arms manufacturers are working full steam ahead and President Trump is making sure that the coronavirus doesnt get in the way our team alex mahela bitch has a story. As american suburbia an economic sectors come to a standstill. The war machine keeps turning in the past couple of months but u. S. Has raised tensions with iran and Venezuela Air strikes in somalia have intensified america has provoked russia by suggesting the deployment of Nuclear Weapons in poland and u. S. Warships have sealed towards china. When it comes to china just this week but u. S. Has made matters even worse approving the sale of 18 advanced or paedos to taiwan for 180000000. 00 needless to say china is not happy. With finally burnley opposes the u. S. Arms sale may high balance he has made. In total the sale of weapons to foreign entities by u. S. Companies stands at around 180000000000. 00 a year and coronavirus or not the trumpet ministration is making sure that doesnt slow down with covert 19 lockdowns standing in the way of manufacturing President Trumpet his team have made sure to remove a valid hurdle when it comes to the arms industry especially in terms of foreign sales added to the governments march list of essential workers which includes Health Care Professionals and Food Producers in april President Trump added Defense Industry personnel employed in foreign arms sales to the list by all accounts this order is also helping weapons makers fuel domestic demand as well weve spent 1. 00 trillion dollars since ive been here more than that 1. 00 trillion dollars on a military that we now have the Strongest Military weve ever had we have the best equipment the best missiles planes the best of everything according to the Stockholm International Peace Research institute the United States remain the worlds biggest defense spender in 2019 with a budget of 732000000000 representing 38 percent of all military spending in the world although slightly lower in february the pentagon released its 2021 budget request at 705000000000 placing an emphasis on weapons that could be used against Nuclear Powers such as china and russia combining domestic with International Sales the u. S. Arms industry isp. To nearly a trillion dollars that is not something that the trumpet ministration is willing to stand differently. Even if American Workers are put at risk. With covert 900. 00 still raging in the states employees continue to work at military industry factories and offices around the country and with business booming the workforce is expanding weapons manufacturer Northrop Grumman is planning on hiring 10000 more workers this year raytheon is bolstering its military wing advertising 2000 new jobs boeing which has laid off thousands that its a 1000000000 wing is looking to hire hundreds on the military and Security Side of its business and the worlds biggest arms dealer Lockheed Martin has added 2365 new jobs since the beginning of the coronavirus lock down with the intention of hiring another 4600 people while some see National Defense as essential to the u. S. Many are wondering how manufacturing weapons for foreign entities fits that bill with the willingness to put American Workers at risk by military Industry Assembly lines u. S. Government priorities become even more. For our teeth and alex my heart of which. Joining us now to go further and that is cohost and investigative journalist ben so ana thanks for being with us today start by telling us more about this memo and what exactly does it entail and cover. Yes so just to be completely clear with the audience so they understand this the Trump Administration has decided that when it comes to essential workers back in march the Defense Industry workers were considered and deemed essential i think that makes sense in most peoples minds but what they didnt know was that in april a memo was sent and was adjusting this declaration to also include workers who were working on arms sales to Foreign Countries now the question becomes you know this is the big problem with talking about essential versus nonessential workers when were talking about essential workers how is it essential to have people in factories working to build weapons for other countries these are weapons of war so creating a weapon of war and sinew overseas to another country is deemed an essential job here in the u. S. But people who work in salons or in restaurants and bars and are in danger of losing their entire livelihood are not deemed essential and i think that seems crazy to most people especially the air like youre saying the Small Businesses who are now having to file for bankruptcy who are for the jobs that are no longer coming back now alex did just say he spoke about some of the companies that are profiting who else could be involved in this and how who are we even selling arms to yes so apparently 100 and. We just pulled up here 202200000000. 00 excuse me 2200000000. 00 in possible weapons sales to india to morocco and to the philippines 2200000000. 00 again to those countries in addition to that theres a 150000000. 00 blanket fund for the United Arab Emirates to sell them weapons as well listen that means and by the way some of these workers dont want to be at the factories they complained about people with coronavirus or covert being at the factory there are questions about you know whether or not the factories are safe but thats a separate issue i think then the issue of this which is that when we use the term defense it is it is unacceptable in my opinion to use the term defense when youre describing arms sales go into other countries when were selling to the saudis when were selling arms to the United Arab Emirates these are not weapons that are being used for defense the saudis have been launching the absolute most horrific genocidal war in modern history against yemen killing off millions of people who are dying not just from the war but from starvation and the u. S. Is providing all those weapons and yet we still term that defense spending and as we said that right now were sitting in this moment of this pandemic around the world where people are being told you cannot work but then all these carve outs and exceptions are being made for certain special Interest Groups and thats again the problem with essential versus nonessential not to its a very interesting them considered essential right now theyre working on on weapons to sell during the pandemic its even and crazier to think but meanwhile the trumpet ministration theyre pulling out of another treaty now surprise this time its the open skies treaty with russia what was this treaty and why did the trump and ministration pull out yeah it goes all the way back to 1902 was put in place by george h. W. Bush james baker was a secretary of state at the time related to when russia the soviet union 1st fell and russia was a very Young Country this open skies treaty was signed to essentially say that. You know russian planes not carrying weapons and u. S. Planes not carrying weapons could fly over russia and vice versa this is been in place since 92 apparently the trump ministration doesnt like it nato doesnt like it because theyre saying that there are certain cities and areas that russia wont let them fly over and they dont like russia flying over there is and so the u. S. Apparently trump had a golf course that a russian plane flew over and was angry that they flew over its golf course and so theyre saying that theyre going to pull out of this treaty and theyre going to go back and renegotiate interims words is always a much better deal because thats what he always says hes going to do thats what he claims to do but the u. S. Has pulled out of a lot of treaties as of late is this something i had in that were saying they pulled out of the 2015 Iranian Nuclear deal that they they have the the new start which expires next year in february with with russia as well that it doesnt look like theyre going to renew it the United States wants china involved in some other quick answer what what do you see happening here i think a lot of it is political i mean remember president truman ran on pulling out of the iran deal he did do that i think he wants to say that hes tough on these deals and hes making better deals but the question really becomes are these actually better deals that are getting done there is no deals no deal going on right and and with russia who knows what will get out well and had an Election Year so what that time taking not sure well get any deals here but us cohost and investigative journalist ben swan thank you for that report. So there are things. Thats it for this time you can catch boom bust on demand on the brand new particle t. V. App available on smartphones will play on the Apple App Store by searching 1st of all t. V. And as always check this out on you tube dot com from us our team next time. Martys holiday a hot tip International Memorial awards are now open for entries the media professionals are eligible whether youre a freelance journalist work for all terms of media or part of a global News Platform to participate in the show published works in video all written for much go to award dot altie dot com and then to now. Have been finding another one of our eyes to mcconnell swayer both the food. Bank itself moved to. The plaza in this way got to dog so hard not to think of the mother decide this moment then walk up to him that i want and open this door up and if. This is the only thing that we do is music because everybody fights a useful way. To. The floor you can move the food water and it is more facility in a rat hole and leave it at the moment on the. Roof but i think it is this is the fund that is a comfort. Ah no team no crowd. No shots. Actually helps me. Well its true no 1st. Point show your thirst for action. Right now consternation its all. Worth. Rather so have a seat at these 2 like force the green and the blue and them all to a quick sound check with them so youll wear these headphones but theres just a ball here the size its just that its make sure that were going to make sure that your hairs ok and open tomorrow but its. All right and here and there. You know minute change of all you. Cant hear anything in there so she cant she cant yes good. Do you hear me well you had me last night. So newish ascii lives in kansas city her granddaughter leah is a seattle based filmmaker and shes making a documentary about her grandmothers past and more recent past hello sonia you know oh are you good im curious how do you think those experiences of your youth those experiences that are so hard to imagine for most of us how how they shaped this woman that you are 7 decades later. Well. Never. To tell you how i made
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