all right let's head back now to davos with our children for reaction to the president's speech let's get parts thoughts on this as well as those who are in attendance. monella present trump speech was warmly received by a polite audience most of the time was spent on what the president himself describes as being a cheerleader for the united states he told the crowd that the u.s. was open for business and competitive again he said the economy was strong and smashing one stock market record after another consumer and business confidence was high and unemployment was low since by election we've created two point four million jobs and that number is going up very very substantially small business optimism is at an all time high new unemployment claims are near the lowest we've seen in almost half a century on the international front the president said that america first does not mean america alone he said we cannot have peace without security and that other nations need to contribute their fair share to that security on trade he said he wants free open and reciprocal trade and made a dec

all right let's head back now to davos with our children for reaction to the president's speech let's get parts thoughts on this as well as those who are in attendance. monella present trump speech was warmly received by a polite audience most of the time was spent on what the president himself describes as being a cheerleader for the united states he told the crowd that the u.s. was open for business and competitive again he said the economy was strong and smashing one stock market record after another consumer and business confidence was high and unemployment was low since by election we've created two point four million jobs and that number is going up very very substantially small business optimism is at an all time high new unemployment claims are near the lowest we've seen in almost half a century on the international front the president said that america first does not mean america alone he said we cannot have peace without security and that other nations need to contribute their fair share to that security on trade he said he wants free open and reciprocal trade and made a dec

this is a book and we're here at the world economic forum in davos switzerland coming up i can't see how great a show it is i'm very excited we've got the c.e.o. of one who is a rock star and one of the animals here today gordon brander plus we've got the best selling author don tapscott who wrote the book walk chain revolution but first let's check out some headlines in business and finance back in the studio in washington. u.s. treasury secretary steve menuhin speaking at the world economic forum in davos embraced a weak dollar and the nugent told reporters quote obviously a weaker dollar is good for us as it relates to trade and opportunities and weaker dollar generally favors domestic production by making imports more expensive blackrock chief executive lawrence fink also played down the dollar slide and said investors and the media overreacted to me and statements i.m.f. managing director christine lagarde however said she hoped menuhin would quote clarify his comments and suggested that the recent trump tax cuts would push the dollar's value higher. as puerto rico struggles to

can run you one hundred dollars this year has been especially transformative and not in a great way davos has experience more snow than any year since one thousand nine hundred ninety nine st snow blowers fill large truck which take and dump the snow outside of town as another truck quickly replaces the older one and while the removal process is a fish and all that snow has made the already small roads not much more than a single lane making traffic totally terrible that's even with hundreds of police officers from neighboring communities joining the security and traffic effort on tuesday for example it took the boom bust team two hours to travel only two blocks as a forum ends today many attendees will stay and ski over the weekend come monday residents and businesses alike and davos will begin to get back to normal but they will do so with a little more money in their wallets and their bank accounts. as you know the world is becoming smaller and smaller every day one of the things that's helped us connect is the ability to talk to virtually anybody almost anywhere but the advancement of

president donald trump makes his davos debut we'll have it all but first let's head back to washington with manila chan for some business and financial headlines topping today's news. good afternoon i'm a military man sitting in for bart who as you just saw is on assignment in davos let's get to some of the day's top stories u.s. president donald trump struck a noticeably different tone today during his speech in davos but one message remained the same america first trump said america first does not mean america alone and his words to the world elite as president of the united states i will always put america first just like the leaders of other countries should put their country first also but america for years does not mean america alone when the united states grows so does the world. he made his argument that focused on domestic policies such as tax reform for individuals and corporations have boosted the national economy citing companies like apple who plan to repatriate billions of dollars back stateside a sober trump state on script without any off the cuff remarks assuring the e

in davos embraced a weak dollar and the nugent told reporters quote obviously a weaker dollar is good for us as it relates to trade and opportunities a weaker dollar generally favors domestic production by making imports for expensive blackrock chief executive lawrence fink also played down the dollar slide and said investors and the media overreacted to me and statement i.m.f. managing director christine lagarde however said she hoped menuhin would quote clarify his comments and suggested that the recent trump tax cuts would push the dollar's value higher. as puerto rico struggles to recover from hurricane maria the island's leaders announced late wednesday that they won't be able to pay back any portion of that seventy billion dollars debt for at least five years their original plan for puerto rico to pay creditors three point six billion dollars through two thousand and twenty two in order to start paying off their massive debt but now puerto rico's governor ricardo rosello says that the budget is expected to go into deficit by two to three billion dollars annually for five years t

all right let's head back now to davos.

all right let's head back now to davos with our children for reaction to the president's speech let's get parts.

quick break but stick around because when we return we'll have more from the world economic forum in davos switzerland and here are the numbers at the closing bell. and. the euro centric point of view has seen a lot of criticism lately how relevant is eurocentrism no one can it still be the idea that you know it's confronting so it's. possible to. look at it is. i'm losing. it's gotten a little cool. i think even though it's really nice for you. a little first well it's only about the looking on the other end of the couldn't. pull to one of the ninety one columns on the wall. will. come. up you'll move up. everywhere in the world my guess is that probably just about everywhere women expect men to make that first move and here we. we are in an age where men are scared to make the first move don't know how to make the first move don't know what's right to make the first little. wormy over the. other. which appears for just a second single family home sales fell last december to much lower levels than expected sales saw their single largest drop in more than a year and a half this is likely f

to davos sixack

this is group book and we're here at the world economic forum in davos switzerland coming up i can't tell you how great a show it is i'm very excited we've got the c.e.o. of omega one who is a rock star and one of the animals here today alex gordon brander plus we've got the best selling author don tapscott who wrote the book walk chain revolution but first let's check out some headlines in business and finance back in the studio in washington. u.s. treasury secretary steve menuhin speaking at the world economic forum in davos embraced a weak dollar and the nugent told reporters quote obviously a weaker dollar is good for us as it relates to trade and opportunities and weaker dollar generally favors domestic production by making imports more expensive blackrock chief executive lawrence fink also played down the dollar slide and said investors and the media overreacted to mention statements i.m.f. managing director christine lagarde however said she hoped my.

begging for money you know the whole davos thing was a total scam where the the person in charge of the let me jump in here said i if you talk a macro talk of global trump is now into his trade war is talking to china going to russia. so at the time walk us through how you see that playing out this trade war those tariffs a lot of people were you know shrieking that this would be horrible so far it doesn't not look horrible looks like a smart thing to do in some quarters or what your thoughts look you have a lot of the globalists want one global government to rule everything and i'm not so sure that we're that far away from that right now i mean with what's going on with the european union i mean italy has four trillion dollars in debt that they can never repay and you've got a government that came in that said well what we're going to do is we're going to restructure that debt which that that's a signal that we're not going to pay that debt back if you look at target to where you look at the amount of withdrawals from the banking system in italy for the past three or four months it's a

last time we met was in davos. >> yes that's right >> we talked about a lot of different things one of the things that i asked you towards the end of the interview was as a businessman, a problem solver what will we do about education? i don't know if you remember that >> sure. >> we talked about a lot of other things the economy. you sort of gave me a foreshadowing of what i think you're talking about today >> right >> was vocational schools, but it's been honed now and it's much more the details are ready to come out now on what you're calling the pledge to america's workers. reskilling workers >> that's right. which we have to do. >> spearheaded by your daughter, ivanka >> ivanka is very much involved. she's been involved. we have tremendous numbers of people who are really are phenomenal in every way but not trained or qualified to take some of the jobs you report on it all the time. all of the companies pouring back into our country. we have chrysler we have so many companies. we have companies expanding. look what's happening with apple. they'll spend 3$350 billion i can go on an

sylviane davo works for an environmental organization he'd like to see fishing in this part of the river delta bend so the fish have a chance to spawn favorable points on your deck you know what we're proposing a ban on fishing for one kilometer around the river delta so the fish will be able to pass back and forth between the mono river and the sink where seeking a consensus amongst the fishermen. always say you do it for them because this is. the beach and the dns beyond it our natural paradise and home to sea turtles they've been successfully protected in both bennett and togo for years this is where the biosphere reserve is to begin in the future. we want to see how the more the delta biosphere reserve is progress and then and talk to narrow countries together that over one hundred kilometers wide they're separated by the mono river the biosphere reserve consists of separate settlements the coastal protection area begins right behind the beach it's a unique biotope here where the mother of the needs to see the mongrels begin other mouth of the river shows us the inland waterways behi

little davos solo shot where you're going to. do all those. most of them on. what a pair of lungs done you'll hawkins and he joins us live now in a program do you hope you kept some to talk to us not some air in your lungs. you've been all around as well you're not in so watching it's host to some great games have you been moved by this term and give us your thoughts going into it and how do you think twenty eighteen here in russia the world cup has gone. you. what a month it's been that i'm really actually quite tired at the end of my sort of energy levels but at the same time this seems to float on past so quickly hasn't it this this tournament from the very start and i mean ignore the bad weather here today and salty whenever i've been here we've had a month full of sunshine searing heat nearly thirty degrees here with the russian coastal resort city turned into a football harbor for all city in the stadium nearby and we have seen some of the most amazing games of gold but i was between spain and portugal the portuguese laid to be knocked out by wire when i

all the favorites going into the game for form a corporation football to davos to hold is why he's betting on his take. rocher beat when we played twenty years ago we beat the hell of a beat germany three million we own if somebody undervalue croatian team he can have a big problem we can control the ball today who control more the ball more time more time to score more time to play when i visit in what they are my football players i saw in that i hungry doing. excellent work up excellent organisation paul burrell down her russia well done russian federation of russian people and we saw every day i saw i being in the last stop near me some papers board luzhniki spartak stadium and talk with my mom every day you know house food house with their you know money is all the best for your son and of course i'm so glad and thank you and of course we will enjoy. if somebody ask three years ago russia he will beat spain think at that at the best players on the world in spain are winning a lot of throw face everyone say no but football is it's the best sports in the world and that's why we like not

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he's showing up at davos talking about free trade and sitting with the wto and that is very deliberate. china wants to make maximum use of these trump years to do as much as possible to have international order in the global economy and to be anchored in your view. >> i almost don't dare ask you whether you see light on the horizon, but i will ask you at the end of this conversation about a really sweet sort of retrospective when president trump came over here and he, of course, met the queen and they really bonded. >> he really loved the queen and i describe him, after the first interview at buckingham palace, he said they just chatted about, first of all, xi met every person there was to meet for the last six years. this was the only person you can talk to who has literally known everybody, but the other thing that was interesting is she reminded him of his grandmother who raised him who was kind of a tough, pragmatic and plain-spoken woman. he really saw the person who he loved as much as anybody in the world in the queen and it was an interesting juxtaposition of a woman who has me

and we now move to our friend who we met in davos switzerland the krypto champion a riff a con a reforming welcome and thanks for being with us you have a new endeavor that i'm very interested in i've read a lot about it himalaya capital to tell us what's going on with that. thank you so much bart for having me here in london it's been a few months since we last met him a lot of progress on him a like a change first of all it's one of the revolution of the innovations to come about in the space of smart contracts and locked in technology and the interesting thing about it is it's going after one of the biggest industries that is the capital markets in the securities industry ridges eighty six trillion dollars in size and second it is aiming to take at least some of the revenues are a from the investment banking freeze then investment banks get mandates to do initial public offerings so the process of going after is the security issue and process which is done by companies around the world every entrepreneur if he has to be successful he raises public capital of some point of the company's

begging for money you know the whole davos thing was a total scam where the the person in charge of the let me jump in here said i if you talk a macro talk of global trump is now into his trade war is talking to china talking to russia so at the time walk us through how you see that playing out this trade war those tariffs a lot of people were you know shrieking that this would be horrible so far it doesn't not look horrible looks like a smart thing to do in some quarters or what are your thoughts well look you have a lot of the globalists want one global government to rule everything and i'm not so sure that we're that far away from that right now i mean with what's going on with the european union i mean italy has four trillion dollars in debt that they can never repay and you've got a government that came in that said well what we're going to do is we're going to restructure that debt which that that's a signal that we're not going to pay that debt back if you look at target to where you look at the amount of withdrawals from the banking system in italy for the past three or four mon

begging for money you know the whole davos thing was a total scam where the the person in charge of the let me jump in here said i if you talk a macro talk of global trump is now into his trade war is talking to china talking to russia so at the time walk us through how you see that playing out this trade war those tariffs a lot of people were you know shrieking that this would be horrible so far it doesn't not look horrible looks like a smart thing to do in some quarters or what your thoughts look you have a lot of the globalists want one global government to rule everything and i'm not so sure that we're that far away from that right now i mean with what's going on with the european union i mean italy has four trillion dollars in debt that they can never repay and you've got a government that came in that said well what we're going to do is we're going to restructure that debt which that that's a signal that we're not going to pay that debt back if you look at target to where you look at the amount of withdrawals from the banking system in italy for the past three or four months it's

begging for money you know the whole davos thing was a total scam where the the person in charge of the let me jump in here said i if you talk a macro talk of global trump is now into his trade war is talking to china talking to russia so at the time walk us through how you see that playing out this trade war those tariffs a lot of people were you know shrieking that this would be horrible so far it doesn't not look horrible looks like a smart thing to do in some quarters or what your thoughts look you have a lot of the globalists want one global government to rule everything and i'm not so sure that we're that far away from that right now i mean with what's going on with the european union i mean italy has four trillion dollars in debt that they can never repay and you've got a government that came in that said well what we're going to do is we're going to restructure that debt which that that's a signal that we're not going to pay that debt back if you look at target two are you look at the amount of withdrawals from the banking system in italy for the past three or four months it's a

have them speak of this is al jazeera live from davos also coming up jordan's foreign minister is headed to moscow for talks on the worsening humanitarian situation in southern syria. promises of help for refugees in desperate need after a high powered visit. a compromise saved german chancellor angela merkel's government but the agreement remains fragile. hello they've been found alive and well but now the focus turns to getting them out and all the indications are that could take some time the twelve boys and their coach of a ta youth football team will be supplied with food until then the boys were found late monday by british divers after being trapped for nine days the time military says it's now looking at the tricky task of freeing them from the flooded underground system scott hyla has the latest now on the rescue operation in chiang rai. they became known as the missing thirteen here in thailand but they're not missing any more but their ordeal is not over the boys and their coats were discovered at nine fifteen pm local time here but they are still in there it's going to be a v

radio there and said that i wanted to move out of my room and into the tea house is the host city or at davos then which she agreed and she just remarked you want to listen to the radio so if you know i said yes i want to know what's happening there was no radio no newspapers there are only a few fashion magazines mostly from out of the country one we were secluded from the world up crystals and from there so then i started bringing her the news. in september nine hundred forty four the news was not encouraging paris had been liberated the americans had reached often and the red army was advancing through eastern prussia. she is even in my alst like a book and she got more and more serious than his initial minutes. and. we've done out his autumn came and we didn't go swimming any more and pushed to call i had breakfast and retired during the mornings and. he's a flourish titan the frantic joyful as was sky and. the star i think she was woken up by the news one day and then started planning her future path through life or to deaths of young vital order him towards the plant. after the failed a

has a stake in this is al jazeera live from davos a coming up. jordan's foreign minister headed to moscow for talks on the worsening humanitarian situation in southern syria. a compromise saves german chancellor angela merkel's government but the agreement remains fragile. and meeting african leaders france's president calls for new efforts to combat migrant smuggling.

that's when he went to davos and threw down the gauntlet on the global elite establishment. at some point it will make a deesive break. i don't know what direction. but if it doesn't go up, it's in danger of big collapse on its support. quarterly earnings. all of these things are down this year. city bank is down 8%. wells fargo is off almost 7%. financials are expected to see revenues up 4.5%. so there are big hopes overall for earnings. we had a monster first quarter. wall street look for lightning to strike again. you can see what we got in the first quarter. it all begins friday. i will say three days ago, i'm excited but i have got to tell you, there have been so few earnings warnings, that's a great sign going into friday. at the end of the day it's about forward guidance. we are going to leave it there. do we have breaking news? okay. we have edward lawrence in washington, d.c. edward? reporter: just heard from senior administration officials. the u.s. is starting the process today to add $200 billion in new tariffs on chinese goods. there will and public hearing augu

and that was the slide of president trump more or less declaring war on the global elite in davos. today's session i way was very constructive and will help us in look for entry points. it could attract some buyers. your big, big number is 24,920. i think a lot of folks will start to take action on their buy list. if that sounds counterintuitive. for me it's about psychology. moreover, investors shouldn't be afraid of chasing fundamentals. they had someone contact my office and say i like to cheese stocks. most of stocks $2 to $5 a share are overvalued. conversely many people wouldn't buy a stock trading over $100. amazon. i think it's the perfect example of chasing fundamentals. i recommended it in 2004. and june 16 of last year at 1989 -- at $989 a share. for those who are look for a quick way to assess the proving fundamentals. follow your concern sups earnings. con -- consensus earnings. granted make sure that it's apples to apples. companies make acquisitions or spinoffs. but if it's the same company, it's the ultimate tool for those trying to get their feet wet. if you chased

to davos sixack months ago when president trump was a little cautious about the benefits of globalization. said wee president xi need more free trade, more global trade. if you look at the juxtaposition of what the eu and china are trying to do in getting the deal done to free trade and the possible points of tension and debate president trump will have with putin could not be further apart. vonnie: marty what could be considered a loss today? what would leave you with a feeling in the of your stomach? marty: any kind of concession that gives russia control over crimea would be a destabilizing event coming out of this meeting. i'm not anticipating that. if we went to legitimizing the invasion of crimea by the russians, it would be a bad thing for relations with allies. the administration tried very hard to lower the which may make whatever comes out of this same a positive. the context of the mother investigation having a u.s. president meet with someone who directed an attack on that country's democracy is extraordinary. i think the administration did a pretty good job of ratcheting down

in fact, i was on panels both in davos at the world economic forum and at the oecd in paris a few weeks ago, wto knows some reforms are needed so i think there is a need to update and synchronize its activities we'll see where that leads i think it's premature to talk about withdrawing. >> speaking to our u.s. colleagues, mark mobius agreed with president trump >> the u.s. has been taken for a ride the last 20, 30 years it's time to start saying there has to be some reciprocity between these two countries. it's just crazy to have this kind of deficit. >> still with me is michael saunders, member of the mpc from the bank of england. thank you for being with us on the show we were just discussing a bit about where the bank of england could get to the market is pricing in around 30 basis points of hikes a bit more than one hike over the next 12 months does that sound too cautious to you? >> if the economy plays out the way i suspect it may be that the rates need to go up a bit faster than that. my condition on brexit unfolding in a smooth and gradual way is that the economy will continue t

president xi more or less said so at the davos economic forum that is rather dangerous politically as well as economically >> can they take on the burden, the economic burden, whether it's through not deliberately weakening the currency but tolerating the currency, putting pressure on the pboc to loosen policies, can the chinese policies withstand that blow >> i'm sure they can they've been growing 10 plus rates for 20 years or so now they slowed down to 6.5, they can slow down to 6 or 5.5 in a few years and go back. the economy still has a lot of growth momentum. where they're directing efforts now is technology advances, jumping on to being an economy with technology, and they are succeeding because they have so many well qualified people and investment taking place. they will move ahead whatever the united states does i think the united states needs to cooperate with them rather thanning than antagonize them. >> christopher, thank you very much for your time today >> thank you sdmro speaki sdmro. >>> speaking of the tech fight between the chinese and the united states, the chinese

were ready to actually know what we wanted from the european union there was that famous meeting in davos between merkel and may which merkel said what do you want may said no, what will you give us to take two years having triggered article 50 early, which we should have never done is complete madness. i think what it shows is the division within the cabinet, within the country, within the government and the only way really you can reconcile all of that is now to have a peoples vote on whatever this final deal is going to be >> you talk about that a lot of peoplnegative politicad economically >> the only way to get through the logjam is that way if you look at the math, it's impossible for a deal to get through parliament given where the numbers are. >> if that's the case, then one of the very few options available to the prime minister -- >> is to try a different mandate. >> well, is to say there's all these facts that have come to light the last two years that we had no idea about. not least the one you said about vote leave having cheated. we have to put this back to the people in lig

secret of our view this that there are some reforms ne needed at the wte and in fact i was on panels in davos and in paris a few weeks ago. wto knows some reforms they needed so i think there really is a need to update and synchronize its activities and we'll see where that leads but i think it's a little pra manyture to talk about simply withdrawing from it. >> the other big trade issue has been the future of nafta with new concerns after mexico's candidate won the country's presidential election in a landslide victory on sunday. >> in his speech last night, he told supporters there will be business freedom freedom of expression, of association, of beliefs. president-elect trying to assuage concerns he's going to be the next chavez in latin america. his critics have called him an auto cat his names are r far left social policies far right. he didn't mention president trump or nafta in the speech and today, his economic team held a call with reporters, said they will be respectful of the current government's negotiating team and the independence of the central banks. all of these issues just

trade is no longer -- it's like president xi last year said at davos it is a global ocean and we finally learned how to swim. >> an iphone has pieces and parts that are manufactured in several different countries. >> everywhere. >> the market is cruising along thinking not going to get too series. it was interrog anthony scaramucci tweeted spent the day reading i'm worried the rhetoric is going too far. signs are there. capital is starting to withdraw from stocks. do you see evidence in the markets that okay this is real now? >> we do. you are seeing the markets react a little bit today. you are seeing factory confidence react both here and in europe. you know, he's right. this is what is going to happen. this is why markets are really on edge about this. last week also it came out that the president has been talking again about withdrawing from wto. that would be much more disruptive. i mean, that would just undo decades of world order. >> the trade organization that the u.s. helped create, right. >> yeah. >> to help improve trade around the world. lee gallagher thanks very much. >>> ne