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The u.s. has truly found nonconventional energy in shale oil and gas, which is really bringing benefit not only to the population in the u.s. but really to across the world. you run the largest refinery in the world. what will happen if there were a military strike on iran? what would happen to the price of oil in your estimation? well, i think that the world is a lot more my own view is that if we see small blips we have a system and today there is enough spare capacity, right, in the system to take care of eventualities. you were bullish about the united states, probably more bullish than a lot of americans. what about the other key drivers ....
You can spot two trends. on the one hand, america has been losing its edge, but i m also struck by the rise of scandinavia, include denmark, norway, sweden and if you broaden that definition, finland and iceland. each of the countries seem to dominate global ranking lists. why? what is their secret sauce? scandinavia is actually much more free market oriented than people realize. capital is allocated by the market. the government doesn t own companies. corruption is nonexistent. companies can hire and fire easily, labor moves around. but, these countries do tax a lot and spend a lot on education, child care, health and other things. now, a recent mit paper suggests that there are limits to this model. it s called can t we all be more like scandinavians. we linked to the paper on cnn.com/fareed. ....
Of the world economy? because a lot of people say, look, china is slowing down. brazil has slowed down. india has slowed down. what do you think of the emerging market story? i think that china is maintaining steady growth. it s not decelerating. europe has found its own transition and they will transgress through the financial system in an orderly way. india has had some slow growth but i am optimistic on india. why is that? explain that. when people look at india today, they see growth is at 5.5% now. you talk to foreign investors and they say the infrastructure subpoena terrible them government doesn t do enough reform. it is very difficult to operate in india. you look at all that and you re still bullish. well, i m very bullish on india because it s really the aspirations of a billion people. and ours is a country where all the billion count. ....
What was i supposed to do? start a race with my close colleague? with my friend? for what reason? so, it was his decision more than yours? translator: can you imagine that inside one political party there unraveled such a battle? it is pointless, it would be counterproductive. the united states congress has fast trade letters with russia which ties trade with russia to certain issues of corruption, to, you know, individuals who are deemed to have been part of a system of corruption in russia. you have criticized that legislation and you have said that russia will respond symmetrically and asymmetrically. i want to ask, any further ....