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