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tv   Boom Bust  RT  August 28, 2021 1:30pm-2:01pm EDT

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finance like the ride share app, dbi which hold the data of hundreds of millions of users. reports are now saying that it's early as next month. the chinese government will propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the us. however, companies with less sensitive data such as those in the pharmaceutical industry, are still likely to receive chinese regulatory approval for foreign less things. so how is this likely to impact markets worldwide? and what will it mean for tensions between china and the u. s. joining us now to discuss the latest co host, christy i. now christy the latest report state that aging is targeting those with a certain level of sensitive data. why is this the focus right now? while it's actually been the focus for many years now, the plan has been firm hunting for years, but now it's rapidly gaining momentum. giving the growing schism between the u. s. and china and accusations from both sides of security breaches. so the plan is
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designed to protect chinese interest and to help support the chinese economy in the coming decade. and this include pilot projects for the state supervise data trading markets. so the idea of this splinter net where you have a western internet and the eastern internet has existed for a while, but the trade war last year and deepening mistrust has now fuel the wave. data is becoming a critical battleground between china and the us. and both sides fear the other that unchecked collection by private firms could allow state actors to weaponized information on infrastructure and other national interests. and then of course, the other reason why china tiny script on sensitive data is to potentially help buoy slowing economic growth. this information could range from just about anything from health records and court documents to maps and shopping history. and this could then be categorized standardized and valued, making a commodity to be traded. and this is something that china has been working on for quite a while now that social media has collected so much data. so how do we really tap into the value that flows from data from an economic standpoint?
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and christy, what kind of message is this sending to other nations like the united states, given that they are really affecting the future for lifting, sending the message to other countries that the u. s. isn't the only big capital market out there and that there are risks to listing in the us. the us used to be the de facto market to i p o on, given its global reach and investor participation, they're kind of sending the message that there are other places to raise capital, not just the us. and it's capital markets are no longer what they used to be. and also, while there's a certain paranoid aspect to it by citing these security concerns over listing in the us, it's also pointing out to other countries that, hey, if you list your tech darling here in the us, they might look under hood and demand that you release all the sense of data you collect on us citizens over to them and this term sensitive. it's just completely arbitrary. they can say anything sensitive and or to lay claim on it. the us
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capital market was the gold standard because it once represented a free market. and now it doesn't seem to be the case anymore because what happened to china could very well happen to any other country that gets on the u. s. is bad side. the u. s. threatened to deal with chinese companies forcing institutional to divest interests and chinese companies. and let's not forget tick tock. the u. s. tried to force it to sell itself over to an american company, which essentially is legal theft, a chinese ip. and now it looks like the future battle ground of tech will lie within use their data, which is a valuable commodity and something which foreign companies will not want to turn over to the u. s. yeah, it really is interesting to see how china is responding to the policies we've seen from the u. s. over the last few years. now another story that came up this week was the fact that the chinese government is also moving to regulate the algorithms used by tech companies like fight, dance, and tens, that whole thing. now of course, china is known for having strict controls that and the majority of social media
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sites we use here in the u. s. so what kind of an impact is this restriction on individual algorithms expected to have? well, i think it's a huge, over step by the government to try to regulate the algorithms of private company. essentially what they're saying is, hey, you're doing too good of a job at what you're built to do. we need you to tone it down a bit and be less powerful and thus less profitable. the csc released a 30 point draft proposal friday, and a soliciting public feedback until september 26. and these new rules will regulate algorithm empowered recommendation activities on the internet, including content aggregation, personalized recommendation and search ranking. and this is quite disturbing because it means that content that you can see can further be regulated online and controversial topics and chat thread will be buried even though it's clearly trending. so this is the latest for to influence online public opinion amid efforts to regulate the platform, economy and information distribution. but on the other hand,
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there is some good in these repose rules to though ad agencies and platform service providers. they've using algorithms for bundling sales or learning consumers. and they even buy and sell information to 3rd parties without user permission. so in certain instances, these rules are going to be a good thing for consumer data, privacy and protection. so the use of these algorithms help the platform operators, but then the merchants and the users, they're often squeezed. so there isn't a distribution of profits in the end. so in this respect, there is some good, it will help to regulate the bots and the ad agencies that post fake reviews, fake likes to upload certain products and manipulating online rankings. but overall, it's going to be very tough space to regulate because the question is, who controls the algorithm and who the algorithms serve it, christie? i have about 20 seconds left for this question. but when you talk about that, are we really only looking at kind of the nefarious algorithms? or are we looking at something like tick tock, which was that was one of the big portions when they talked about a possible sale. was that there algorithm was so good,
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they didn't want to let that go. exactly. and you see this with tense then as well because tense and actually how to regulate, how, how good their gaming platform was. so then they had to regulate how much time chinese kids actually spend online playing their video games. so this is another, there's another aspect of trying to try to control the content that people see. and the time that they spend online to try to influence what the chinese culture value most, they can spend all their time on gaming and shopping and consumer to them. they have to spend time on other things. so they are trying to monitor how much time citizens allocate to what aspect. so it is quite disturbing, actually. wow, it'll certainly be interesting to see not only what those policies are, but what the government is actually able to control in this new age boom bus. kristi, i thank you so much for your time and insight. thank you. the
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global markets are mostly up for the week, rebounding from last week's losses, as investors kept an eye on federal reserve chair drone powers remarked falling to jackson hole symposium and continuing concerns over the cobra. 1900 delta. very, let's start in russia with a green arrow for the mo, x as the index gain, more than half a percent for the week. rising oil prices to close out the week help the mo, x and the ruble. a new pull of market analyst by reuters suggest the marks will climb to record highs if you're a clipping 4000 and continue to see gains moving into 2022. moving to asian markets, the shanghai composite is up nearly 2.5 percent despite the regulatory pressure we have heard so much about in recent months. the composite had been on a 3 day winning streak. but last, more than one percent on thursday as a slow down in the property market took a hit raising concerns about future economic growth, pushing the banking sector down in hong kong. the hung thank is also
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a following similar trends as the composite filling more pain from the tech crackdown. bank tech index lost more than 2 percent on thursday alone. shares of ali baba and my twan, they each fell about one percent. while apple supplier, ac tech fell more than 11 percent after reporting earnings, the index was able to level off on friday to close out the week ending up just shy of one percent. we have another green arrow in japan for the knee k up more than 1.5 percent for the week. the majority of the gains came monday and tuesday. conglomerate, soft bank was up to point 4 percent for the week, while chip makers are also driving amid the global semiconductor shortage. moving to india, the syntax is up just over one percent for the week. the indian stock market hit new record highs this week on the back of the technology and metal sector. now that's despite persists it worries about rising inflation, governor from the reserve bank of india, that the central bank is not looking to raise interest rates from a record low in the short term, adding they will not make moves without warning. in australia, the assets,
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it's in the green, but by less than half a percent new data release friday shows. retail sales in july fell significantly as city face to coven 1900 related lockdown while the commonwealth bank of australia, also down where the revised 3rd quarter g. p. predictions to a contraction of 4.25 percent in south africa, they all share is also up for the week. most of the games came early up about one and a quarter percent. on monday alone, sentiment continued to swing up as the economy was nearly 11 percent or $37000000000.00 bigger in 2020 than original projections, according to data from statistics, south africa and again, the nation treasury said economic damage from riots in july could cost between point 7 and point 9 percent in economic growth for 2021. now let's check in with rachel for europe and the american. thanks brent. here we start in the u. k. where the, the is up, the energy mining and health care sector,
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school games for the index this week with b, p oil and gas up nearly 35 percent, and anglo american mining up yearly, 7 percent for the weak. this as a growing labor shortage threatens the countries recovery will take a more in depth look at that coming up and nearby the german dax and french kac are both in the read. the same labor shortages are hitting europe, as germany says, it needs more than $400000.00 additional foreign workers to fill its labor market. and while france has faced weeks of protest over the requirement of a health path for indoor activities report show, consumer confidence only took a slight hit this month. and the continued increase in spending caused countries finance minister to describe the french economy as doing well across the atlantic. now to brazil, where the eve of us, but is up this despite the news that the countries consumer price index is up point 89 percent. and mid august, marking at sharpest increase since 2002, fueled by electricity,
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food and gas prices. the latest reading also comes and weeks after brazil moved to raise interest rates once again. and over in mexico, the b m. b is down. the countries oil output to the hit following a massive fire on an offshore platform, the left 5 people debt. the impact on 40 percent of mexico supply sun, oil prices on a 4 day rally. meanwhile, the latest data shows, gains and services. agriculture and manufacturing have helped mexico gdp grow 1.5 percent in the last 3 months. here in the us down the nasdaq and the s m p are all in the green this week with all eyes on fridays address from the federal reserve. investors sighed with relief as chairman powell signals, he isn't planning to pull back on the fed, easy monetary policy just yet at the f. m. c's recent july meeting. i was of the view as were most participants, that if the economy evolved broadly as we anticipated,
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it could be appropriate to start reducing that pace of asset purchases. this year. reading month has brought more progress in the form of a strong employment report for july. but also the further spread of the delta variant. we will be carefully assessing incoming data and the evolving risks. and finally in canada that csx is up to end the week after nearly having another all time high on tuesday, the next saw gains fueled by energy stocks heating 2 week highs, as oil prices rallied. now, canada is now less than one month away from an early federal action called for by prime minister justin trudeau, which will determine the future of the countries parliament. and moving next week, we will continue to keep an eye on the state of supply shortages around the world and how they are impacting the global recovery. and the united states supreme court issued a ruling late on thursday that struck down into victor moratorium from the cdc in a 6 to 3 ruling. now this comes as the new figures show that nearly 90 percent of
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rental assistance funds have not yet been given out. training chavez, on the ground in new york and brings us the details on the state of renters. as the white house prepared for us supreme court order that could invalidate the new federal eviction moratorium, newly released data show state and local governments across the us have only distributed 11 percent of the funds congress allocated to help pay off the debts accrued by renters during the coven, 1900 pandemic. i got sick and ended up being backed up by my rent because i was in the hospital for a while. and also i got back up during the winter time because of the pen demik and the grown of iris and being backed up on my rent. and my landlord doesn't want to hear it. so he got me the in july, more than 340000 households received nearly $1700000000.00 in rental and utility assistance. that's about a 15 percent increase compared to june and more than doubled,
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the number of households served in july. that money bringing the total amount of funds released to approximately $5100000000.00 or 11 percent of the $46500000000.00 rental aid program. new york congressman representative monday or jones taking a twitter saying this is unacceptable. we thought to extend the eviction moratorium to give states a chance to distribute these funds, but time is of the essence. states like new york must immediately get these funds to renters. with the urgency this crisis demands feel loss, and i feel helpless. clear in the white house though, has defended it. slow pace thing over a 1000000 payments have been sent to families, gene sperling, who oversees the operation of federal pandemic relief programs for president biden . told the new york times about a 1000000 payments have now gone out to families. it is starting to help a meaningful number of families. it's just not close to enough and an emergency like this to protect all the families who need and deserve to be protected. so there is still way more to do and to do fast out some say the white house in cdc
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have likely legally overstepped their bound. and this latest extension you're asking me is a private structural landlords to provide public of free housing. because it's not my role, my role is to supply house and you get paid for it. and if you're preventing me from a victim, someone for not paying their rent. so you're asking me to be subsidized housing. now some landlords have rejected federal aid arguing that evicting nonpaying tenants is not only there, right, but the most effective way of ensuring their revenue is not interrupted in the future. reporting for boom bust trinity chavez r t. i'm now for a quick break. so when we come back to the united kingdom continues to bear the brunt of a labor shortage as the nation supply chain remain shattered. straight ahead will bring you analysis from someone familiar with the industry. and as we go to break here, the numbers are to close the news
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. news. ah, ah, no. when i would show the wrong, why don't i just don't the rule. yes to shape out the same because the after an engagement equals the trail. when so many find themselves, well the part we choose to look for common ground in you know, look at that low ball bullet. me say what's happening as the ball low
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ball bang, perpetuate there. lowball money, train thing a military mission against a we'll conclude on august 31st. i was going to go to us all the quote unquote a young girl. and i really need proof for my you got to be subtle. company the cut, cut over. what was the quote to show me that this was the right weapon against the right hand body. but it was filled out through z o, o, z the, the signing of the us tell about agreement. and i've laid the groundwork for the road ahead toward a lasting peace in afghanistan. and
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i know we still need that. i'm a dunaway and he the families that mark mark new function you would like to get some more. yeah. where it shows me what to do. john got that. i've got that limit and i wanted them off. you're gonna be skills that you don't know the work for me about the less about
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the me the the the welcome back. the economic recovery in the united kingdom could be flowing as the nation faces the labor shortage and supply chain disruptions due to the cobra. 1900 pandemic and fall out from breaks it back in july. job openings in britain cross the 1000000 mark for the 1st time since records have been cap, despite many workers coming off of furlough and unemployment numbers continuing to fall. there have recently been supply shortages throughout the food industry, including restaurants, and supermarkets, with industry groups, blaming breasts,
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it as you nationals working in truck driving farming and food processing left the nation. meanwhile, a recent quarterly survey by the confederation of british industry shows optimism and consumer facing business fell to minus, haven't team percent for august, down from a positive 47 percent in may, the worst reading for the height of the pandemic. so what does all of this mean for the future of the u. k. economy, while the discuss, let's bring more with his board member of the british american business association and president of straw mark business development consultants. i was a pleasure to have you on hillary pleasure. brand, now we've heard a lot about labor shortages here in the united states, but it seems there is a similar situation, the u. k. but with different factors, what's behind it and just how bad is best for you, right? but there are labor issues in the u. k, as are all in the u. s. and of course, many countries. i think the 1st factor is really the same as the us. i mean, the follow program that was wonderful during pandemic hits prevent
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a lot of people from going back to work and that program hasn't completely ended and the u. k. government is still helping knows that we're self employed as well. so you got the follow issue. you also have the exodus of the you work has before the pandemic, they wanted to go back to their countries, particularly eastern europe and with the travel restrictions they weren't allowed to come back into the u. k. then you have the laurie driver issue. i mean, this little issue is going on for 25 years. mark seldon is the financial of the media advisor to the you president the u. n. and he said this is going on for 25 years. and it has, i can remember this from when i emigrated to the u. s. it's low wages, it's not a job but very pleasant and it's always been there in the u. k. so the laurie dr issues never going away. the 3rd is that the 4th issue is that of, if you look at it, you're going to see that immigration normally has occurred into the u. k. that labor shortage is exacerbated because of the travel restrictions. people can come in to the u. k. in the way they used to to work. and last but not least,
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the ping demick has been a major factor because people had to self isolate. so they're out of the labor for labor. 4th, a lot of them have had to stay home and that as contributed for those 5 factors brand have exacerbated it, kind of like a conundrum of the calendar. right. and i know that there's a lot of moving parts there. now at the same time, we're all looking forward, not just for the few months that especially to the holidays. and we've got supermarkets and producers warning with the supply shortages could last year. the holidays and could even really hurt christmas is their concern there about how the, how long the shortages will last. well actually you're picking right up on the story that's to do with when i mentioned the you work because a lot of them are officers and they worked in the meat packing, meat industry and a lot of the pigs. of course this has been effected because they haven't been being able to slaughter them the same way as they used to. and as this prediction of a sausage shortage will in the u. k. i, we are in england, a lot of people celebrate christmas and forces roles are a big thing at christmas. so it's called like the sausage christmas, you know, issue. i think a lot of the media is made a big issue,
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but i would say in all seriousness the semiconductor issue in this, the shortage across the world is the same worldwide. this is affected all the supply chain across the us, of the u. s. and the world and also that was exacerbated by the suez canal blockage . so the prediction i would, i would say, is i would look to i n g, the bank because they're james smith. the chief economist there has said he looks to basically the beginning of 2022, that things should eat. so maybe there be some sort of is up to through the holiday season in the u. k. but by early 2022 things should be more back to normal. busy particularly in the supply chain, and that will be the same globally. and it feels like that's something we hear regularly is that these things will kind of work themselves out relatively soon. but the question is, will they really? and i have about 30 thanks for this last one, but data from the bank of england shows that debit or credit card spending has fallen to just 94 percent of pre pandemic levels in recent weeks following freedom day. what do we know about spending in the u. k right now?
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well, actually, the euro, of course, ended in july left. and up until that there was a massive build up a lot of spending. and i think that decline actually was freedom day, was the 19th of july on people who go on vacation. you know, people are not doing what they normally do. they're not spending the same kind of money home and not celebrating because the euro's was a big bump. and i think a lot of that decline is somewhat people are a little bit sick of this. and i think it's a delta variant to the ping demik really put a damper, i think on the spirits of the u. k. people want going out to shop. and there were a lot of people will actually, i mean, at least what i heard a lot of businesses people would be ready to buy, but they were ending up. so by selling because about taylor is waiting for me to say something about the euros in england losing, but i'm not going to do it hillary, which if the british american out of the asia. thank you so much pleasure. and finally, from one shortage to another liquid oxygen is insured. supply causing space x to warn their upcoming launch plans could be impacted as
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a result. the liquid oxygen is an important component, not just in the rocket soaring into outer space, but also in the ventilators used by hospitals treating critical coban. 1900 patients, arise in cases prompted the city of orlando to call on residence to limit their water use. due to an increased need for liquid oxygen and local hospital, the president and c e o of space ex said, future launches will be impacted by the company is keeping hospitals in mind. she added a quote, anybody that has liquid oxygen despair, would you send me an email? as for now, space acts is still set to launch. it's falcon 9 rocket from the kennedy space center in florida before dawn on saturday as part of a resupply mission to the international space station. and rachel, it seems like obviously the flight to the international space station is necessary . when you have to resupply your people kind of do for lack of a better term, out on an island in the middle of the space, but say, hey, does anybody have any liquid oxy despair when it's clearly needed into the health
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care industry to deal with the influx and patients dealing with cobra, 1900, maybe that might have been a little bit off base. and you know, i'm a pretty pro space exploration by the billionaires. but you don't like to see this when they're saying, hey, this needed supply. we need that to fly to space. adam layer reality check their, and that's it for this time you can check boom bus on demand. the portable tv app available on smartphones, tablets, google play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices or simply check it out portable dot tv will see you next time with me. ah, ah ah
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ah ah ah, i will. i will cataract drugs are essential for millions of patients. or are they, they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work. the problem is, in a long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition that was meant to treat instead of the beneficial effects of these different medicines ending up
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to something wonderful. very often they're harmful effects and up to something terrible can bill. so of all ills, or are we trying to mitigate life itself? i just think i was and i was just scared, scare a little girl. the 24. and like, didn't have to be so complicated. only one main thing is important or not as an internationally speaking, that is a nation's allowed to do anything. all the master races and then you have the mind, the nation. so other slaves americans, brock, obama and others have had a concept of american exceptionalism. international law exist as long as it serves the american interest. if it doesn't, it doesn't exist by turning those russians enter this dangerous go. you man,
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that wants to take over the world. that was a culture strategy. so some of it on your own. i english v i v, i not leashed off in one in tablet, block nato, and it's our we move east. the reason us hedge some dangerous is the lie, the sovereignty of other countries, the exceptionalism that america uses and it's international. war planning is one of the greatest threats to the populations of different nations. if need disbanded, shareholders in the united states and elsewhere in large companies would lose millions and millions more in business and businesses. good. and that is the reality of what we're facing, which is fascist. ah
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ah, ah, this hour's top headlines hero and often international us lashes out that isis k enough, janice don, drones, dr. kills 2 of the operatives and leaves one more wounded. it is the 1st reprisal for thursday's coppell, airport plumbing, in which 13 americans were among the many killed
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justified in cobb. all that is supposed crowds as people continue to plot the.


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