Transcripts For RT Boom Bust 20240712 : vimarsana.com

This is a boom bust the one business show you cant afford to miss their month of washington coming up the tick tock saga continues as by chance and oracle it will they continue to battle over ownership of the new global leaving the deal up in the air and on another front us while we tensions also continue but is the u. S. Loosening some restrictions against Chinese Telecom giant while way well explain that you have a lot to get to so lets get started. Take talk saga continues as the deal is still facing uncertainty over the structures of the companys ownership and a statement on monday oracle said upon creation of tiktaalik global oracle walmart will make their investment and the ticktock Global Shares will be distributed to their owners while americans will be the majority and by dance will have no ownership in tip top global meanwhile by dans put out a statement of their own theyre claiming to dismiss these groundless rumors and said the company would retain 80 percent of the newly formed ticktock despite trump saying it would have nothing to do with china wont buy dance also denied president trumps claim that a 5000000000. 00 fee would help set up an Education Fund many remain skeptical the deal does not sufficiently address National Security concerns will uncertainty remains as the 2 Companies Continue to battle over ownership whether chinas government will even approve the deal or prevent it. Just one week after new rules kicked in all not. Bar to ban u. S. Companies from working with chinas Telecom Giant while way well things have changed quite a bit the move against wall way is part of a broader International Campaign that includes many countries banning wall way from participating in their 5 g. Networks this includes australia although the whole movement seems very cut and dry as arties mahela which tells us theres more going on behind the scenes. It looked like a done deal. On the china firmly opposes the u. S. Is deliberate discredit and crackdown on weiwei and other Chinese Enterprises on september 15th the u. S. Banned companies from supplying for servicing while waiting arguing that the tech giant was being used by the Chinese Government to spy on other countries a big ticket item in the band is chips what weighs prohibited from buying components from american and north American Companies that were developed using equipment or software made in the usa however the u. S. Already seems to be boosting its hold according to a report from china intel has been granted a license by the United States to continue doing business while way which will help while weasel laptop division other companies have also suffered mission to work with the worlds Biggest Smartphone maker this includes chinas Semiconductor Manufacturing International Corporation that uses u. S. Origin equipment to make chips as well as south korean chip maker escape hynix meanwhile the campaign against weiwei its also sees a holes in other parts of the world namely australia relations between china and the land down under have been tense since australia banned while wait from supplying equipment for a 5 g. Mobile network back in 2008 in response what has cut jobs and investment in australia is what was cheap Corporate Affairs officer in australia Jeremy Mitchell the reality is you know weve gone from a 1000 stuff next year will be a 100 stop you know the impact on the 5 j. Band and the great stride the china relationship has had a huge flow on effect while we also cancel that 72300000. 00 us dollar investment for research and development in australia in addition one way and its pulled a sports bonser ship deal with an Australian Rugby Team all in all not everyone is happy with the australian governments maneuvering really really sad died as jeremy said. Will be still be appearing as a sponsor next year will be i am the very very lucky if we find another one as good as y. Y. With resistance in some parts of the world while way its been exploring other avenues to continue its growth the Company Plans to open its Flagship Stores in 40 smaller outlets across europe by the end of the year while way has also committed to deferring funds from the u. S. And investing more in russia in the words of while we see old friends in face after the us included us on the entity list we transferred or best made in the us to russia increased russian basement expanded the russian scientists t. V. And the increase the salary of russian scientists at a grander scale but somebody is set to take on american multinational google by developing a new operating system to replace googles android will by 000 s. Currently what we have 600000000 users in its ecosystem. Us on whats more of a bitch. And i want to take a deeper look into this were bringing cohost christine an editorial director for the American Institute for Economic Research Jeffrey Tucker jeffery washington has been pushing governments around the world their allies to squeeze out wall way and barred u. S. Companies from supplying or even servicing them now this the intel has received permission to supply wall way one of the United States allow this license to be granted why not a smoker or even as next like alex said. Whats happening is that the chap administration is gradually realizing were living in a club with economic environment not easily disentangled by the nation state and this is an accurate basically acquiescence to that to that reality and its a sign a certain amount of flexibility on the part of the chump administration they will not be able to drive this this iron wall between between china and the us its not plausible in a in a digital age and im i have to tell you im very impressed by the wall ways response here theres its clearly a company run by some very smart adults who are more interested in prosperity and technology than they are and Just National pride i think walk away gets a better into the deal here Trump Administration is going to lose this war with be could be part of we know that back then when it while i was issued to the entity list the United States was still granting some of these licenses to American Companies to continue to do business with wally is that connected to this. Really yeah i mean it certainly is i mean this thing is that what you really do have here is trump whos trying to apply the old 19th century rules of protectionism in a in a digital age where everybody is connected no matter what the regulators are saying so this is some backroom dealing to keep the function and to keep to keep American Companies supplying while away in a way that trump liberal believes will benefit american jobs that of course youre right its its intellectually inconsistent and lot of its about whos paying whom to get their get their way in the Global Economy today well kristie the talk war continues obviously is beginning to take a toll on local economies such as us australia as alex mentioned in his piece United States ally who again joined the boycott against wa wait while we were beyond the 100000000. 00 local cost of this tech cold war how australias economy handle this. Countys not going to handle this well at all as and im the analyst already estimated that this 5 g. Ban on holland has already cost australia over a 1000. 00 high tech and highway jobs from the economy and from a revenue standpoint its gone from annual revenues of easily 1000000000. 00 with 5 g. To a situation where in the next few years revenue will be below 200000000. 00 so as a also suffered damages from being a casualty of this tech war it has reduced previous of planned investment endeavors in part due to 5 g. Been set in place and also in part due to the rising tensions between china and australia so this is very harmful to economies like australia who was relying on these have the investments so holly abandon its plans for large scale r. And d. Development in australia it closed another 60000000. 00 operational and Business Support Center it closed another 30000000. 00 National Training Innovation Center terminated in multimillion dollar funding on the internet of things lab which basically cost the entire economy thousands of local jobs so there was also previous plans were another 100000000 dollar investment in Western Australia for a global or indeed center for 5 g. Mining applications given that australia is the world leader in reeds in the resources sector but the 5 g. Band obviously killed that so local officials are worried now that australia will suffer greatly with the loss of current r. And d. Spending but more importantly the loss of future r. And d. As it will not be able to keep up with the quick pace and turnover of Technological Innovations and we know thats really important in wa way there are in desponding its as a company that spends the most amount of money in doing so Geoffrey Huawei is now now intends to enter this p. C. And monitor market so theyre kind of diversifying right why the sudden shift here are they abandoning their plans you think to be the Global Leader in 5 g. Is this a sign of defeat or are they simply just looking at other other departments to go into essentially this is called the law. Long game theyve got their eyes on apple and microsoft on google theyre not going to take this line down operating systems you can build them you can create your own ecosystems you can create hardware we know how to do it. Huawei is specialized in this and both both replication and innovation so this is an extra really ambitious view theyre looking at 510 years from now were kind of laptops are people going to be using what what is going to be the i. O. s whats going to be the operating system on peoples phones while away wants to be the Global Leader and theyre betting that they can do it and i i dont think its crazy i think its actually possible this is not you know 20 years ago this we know how to do this internet now weve seen a lot of cooperation now between while away and russia and some of the best Tech Developers in the world very very resentful about what the u. S. Has done to our way and have every incentive financial and intellectual and national to come up with technologies that can that can beat the u. S. At its own game so really in a way us is really poke the bear and its i think theres going to be hell to pay sometime over the next 5. 00 or 10 years for u. S. Industry oh yes i seem to always actually very much at diversifying here obviously is about who can make the best products but also the most economic products so thats what companies are really looking for to save them some money earth on my least financially less than those that less are less financial level of a burden on these companies kristie the u. S. Continues to isolate and block while way though and its increasingly turning now to russia transferring investment what does that look like. So the hallway c. E. O. Renton say confirmed that after the without a huawei to the end hes left it transferred over massive amounts of investments in the u. S. Now over to russia so as jeffrey just said always still intends to be the new global influence and is now recruiting developers and then you factors to help a build a 3rd alternative to googles android and apples i os so while i says that there is room in the Global Market for another operating system and that it plans to take this opportunity now the u. S. Is looking at this development and seeing the huge risk that it presents to americas control of the worlds mobile ecosystem but then again it is kind of the us its all in the 1st place for backing all way into the corners so this is the only logical or turn out of that jeffrey said the bear otherwise it would have continued on happily using android in the 1st place so after waging the war against holloway for over a year now americas actions against holloway has left the door wide open for russia and similar to what i said before about australia its not only about the Current Investments its always about the future investments when you talk about tech and r. And d. Because of the fast pace the Development Cycle the days the u. S. Lost out in r. And d. A 5 g. Technology and falling tragically behind and instead russias own tech sector and Industrial Base has gained and gotten a huge boost so china is kind of bracing to decouple its supply chain and industrial capabilities from the u. S. And now engaging with russia who will benefit hugely from now from these partnerships and we think about at what point does the United States actually say you know this is enough that were seeing this a little bit by them loosening these these restrictions somewhat on actually supplying things or these these properties to to while away so i guess time will tell but this the saga continues it seems like it never ends who must go host christiane an editorial director for the American Institute for Economic Research Jeffrey Tucker thank you both so much for your time today. Thank you. For a quick break but hang here because well return u. K. Prime minister Boris Johnson will you know new instructions in his attempt to curb a 2nd wave. But how will this affect the already shattered economy that others got to brace for the numbers of the. Elderly with forward to talking to you all that technology should work for people. Must obey the orders given by human beings except where such orders would conflict with the 1st law. We should be very careful about official intelligence to the point obesity is a great. Place to take various shots and with Artificial Intelligence will summon the demon. A robot must protect its own existence was only. If. We are segregated. By social class lower middle class people also in poverty by 1st place if youre born into a poor family. Born into a minority family if youre born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger than you born into generational poverty. Its a fight every day so you meet your needs and the needs of your family. A new round of lockdowns has been announced by u. K. Prime minister Boris Johnson well after a warning by 2 scientists that the u. K. Could see 50000 new cases of corona virus by mid october when the u. K. Has imposed new restrictions to limit the spread of the virus the list of those new restrictions and clude Office Workers who can work from home should do so pubs bars and restaurants in england will be ordered to close by 10 pm each night ptolemy sector will be restricted to Table Service only face coverings must be worn in taxis and private hire vehicles and by retail stuff while at work while customers in hospitality will also have to wear face coverings except while seated at a table to eat or drink or the plan to return of spectators to sports venues will now not go ahead from october 1st and wedding ceremonies and receptions will be kept at 15 people from monday the u. K. s Prime Minister says that while the lockdown will not be as severe as it was back in march these steps are definitely necessary i want to stress that this is by no means a return to the food looked down. March we will ensure that businesses can stay put in a code compliant way however we must take action to suppress the disease. First we are once again also Office Workers who can work from home to do so in Key Public Services a new profession as well homeworking is no possible such as construction retail people should continue to attend their workplaces and like government this house would be free to take forward its business in a secure way. Joining us now to discuss is board member with the British American Business Association hilary ford which hillary they. For joining us today just there there has there has to be some a lot of anxiety rather from Business Owners here just as they thought that these lockdowns were actually over theyve been hit with a 2nd round what are you hearing yes im hearing what you wouldnt be surprised to hear both across the atlantic actually on so in the u. S. Is purported that 85 percent of family owned restaurants are going to disappear and in the u. K. Its purported that about 50 percent of all travel related Companies Restaurants and sort of retail small retail owned stablish months are going to go out of business so i mean obviously this is only the sort of a blow at the moment definitely however i room temp about with some optimism and that is in terms of the japan deal but its been just completed by the