37 Burst results for "World Trade Organization"
Fresh update on "world trade organization" discussed on Bloomberg Daybreak: Europe
"And more extreme. And we've had lots of headlines about the UK economy in the course of place measure of that he's property prices. Are we heading for boom and bust? Estate agents are starting to get a bit nervous in the UK as the uncertainty continues, all that coming up on this program Absolutely. Let's get you to the markets now then, so I mentioned the global stocks erasing their losses for the year. Well, it seems that that rally is continuing in Asia because the Asia Pacific is up by half of 1% also racing losses for 2020 that gay to search 41% since the march low. As for the futures markets after we saw the S and P 500 Briefly go above its February high and then pull back U. S futures at the moment. Just getting to those. But let me bring you also the fact that in Europe we've got the U. S stocks, 50 features down 2/10 of 1% S and P 500 in many futures, Also in the Red wa card will be removed from Germany's Dax ahead of the usual Corsetti review. No surprise. They're difficult period, of course. For that bankrupts company. Also 10 cent results reported profit that beat the highs. Alice estimates shares currently this morning, down 1.4%. The other big movies in the markets Gold and the dollar so gold resuming the climb higher, up 6/10 of one set $1928. Spot index is weak attempt of 1% and when it comes To Treasuries. We've had quite a few comments from Fed officials yesterday about the state of the U. S recovery pretty worrying US yields at 66 basis points of dropping three bases points this morning. Those the market's Roger Well, let's bring you some breaking news on earnings. We are still in earning season Carlsberg sees they're fully organic operating profit declined. Between 10 and 15%. They're not going to do the second half share buyback on the first half net income is a 2.86 billion Danish kroner that he's breaking in the last few months. Okay. As for Deutsche Telekom, also expecting their results. Second quarter adjusted E bit comes in at 9.83 billion beats on the 8.73 billion estimate due to Telecom second quarter revenue. 27 billion euros again a beat of the 25.7 billion so that from Deutsche Telekom, right, let's course I would to you, Sydney where Garfield Reynolds of the Markets live. Team joins us Very good morning to you. It's all seems to be very much pushing in a risk off mood this morning. A big rally, of course, is we've heard S and P 500 record, also saying Asian stocks Very much risk on And yet in the teeth of what do seem to be unresolved issues not only obviously about China US tensions, but the virus. I mean, why is this happening now? Well, I think that the markets are actually we talked about how they look. Go back to where they were before the meltdown. We're getting back to those two year today in the green. Yes, it 500 or I've got to a fresh record high. Still the man's act. It's the only one that's called, so I think that is a bit of a psychological barrier. Once indexes get to this level and people stop, start stop and think and fire themselves well. So we were really heading for significantly better times. One thing to get back to where we were OK? Yes, the march sell off was extraordinary and probably went to five. We've got all of this. Central Bank and fiscal largest. But can we go forward from here? Can we go on with the upward and there doesn't seem to be ah, favorite of nerves, then the other thing that's happening is under the surface. Is actually being a lot of rotation for much of the rally growth and pick we're leaving the way I get growth and take a precise effective but a most vulnerable to that. Us time. Attention you're talking all so we had value cyclicals. Be the leaders in the loss of a while, which, in and of itself is is hoping to make this reelection of those strange because one thing that everybody seemed certain about much of this year. Was the cyclicals and value stocks would not a very good place to bay so very choppy markets and I think we're the pivotal point and we need to get possibly trade negotiations. Look, try this trade review that drew within the week and also some clarity on what exactly is going to come out of Washington. All right, Garfield. Thanks very much. Indeed. It will be fascinating to see where Washington goes on this some contradictory signals. Got Reynolds there on Realty. I'm market commentary and analysis And for all that you can check out markets life ml ivy. Let's go to our top stories. Then this morning we start with some news on transatlantic trade. Because the US is upping the heat over Airbus. It's adding extra Taras on some goods from Germany in France. The move is designed to squeeze the European Union into settling the long running dispute ofhis subsidies to the aircraft maker. The U. S won a judgment from the World Trade Organization last October. But the U. Is waiting for a similar judgment against Boeing subsidies that could come as early September. On the top story here in the UK today very definitely is the hundreds of thousands of students in England Wales on Northern Ireland will be looking on, I guess rather noting envelopes these days to get there. A level results after the exams, of course, were canceled you to the virus grades of being awarded using teacher assessment of how pupils would have performed That's then moderated by the examples and the regulator using an algorithm. But the government's been very widely criticized for last minute changes in the last 24 hours, in fact, which means students unhappy with grades can appeal to use results from mock exams or sit fresh exams in October. Jeff Barton from the Association of School, and College leaders says that could be a problem. I know it's an English teacher..
Fresh update on "world trade organization" discussed on Radio Specials
"Hello. I'm Aaron sat here with the BBC News. Joe Biden and Kamala Harris have been setting out their vision for the United States in their first joint appearance since he chose her as his Democratic party running mate for November's election. Mr Biden said he had no doubt he had picked the right person to help him rebuild the country as John so, Paul reports In the city, where Joe Biden started his career. Nearly half a century ago, he was back again the setting a school gymnasium with more flags in these covert times than there was audience to introduce his running mate, Senator Carmela Harris. He said the fight was going to be rough between now and November. The third It said she was tough, smart and experienced. Conlon knows how to govern. She knows how to make the hard calls. She's ready to do this job on day one. We're both ready to get to work rebuilding this nation. Brussels has welcomed the decision by Washington not to increase the amount of good subjects of tariffs as part of a dispute between the European Union and the United States over their respective subsidies to the aircraft companies Boeing and Airbus. Andy you spokesperson said the impacts of the current economic slowdown on the air travel sector provided a particular urgency to preserving the row with more details. Here's Jonathan Josephs Last year, Washington scored a victory at the World Trade Organization, which allowed it to impose tariffs on 7.5 $1,000,000,000 worth of stuff it buys from across the Atlantic. The U. Is welcomed the decision not to escalate the tension on both sides of renewed their commitment to finding a compromise to this economically damaging row. But the pressure is on with the W T O decision on retaliatory tariffs from Europe expected in the coming months. The US Secretary of State Mike Pompeo, has said China's economic power makes it a more difficult foe to deal with the Soviet Union during the Cold War. Speaking on a visit to the Czech Republic, Mr Pompeo urged countries to resist the influence ofthe the Chinese Communist Party. What's happening now isn't Cold War to point out? The challenge of resisting the CCP threat is, in some ways much more difficult. That's because the CCP has already enmeshed in our economies in our politics in our societies in ways the Soviet Union. Never wass. And Beijing is not likely to change course in the near future. Although One lives in hope. Relations between the United States and China have deteriorated recently. The British charity says there's evidence to suggest the number of civilians harmed in conflicts around the world has fallen during the Corona virus pandemic. The charity action on armed Violence collected media reports of incidents where people were killed or injured by explosive weapons between April and July. They found a 58% decrease competitive with the previous year, well knees from the BBC. Australia's worst hit ST Victoria has reported 278 new Corona virus infections and eight deaths in the past 24 hours, significantly less than the previous day. The state is in a strict locked down with a curfew at night in New Zealand. The Prime minister Justin, The attorney, has said she expects her country's outbreak to grow further before slowing down. The presidents of Peru, Martine Vizcarra has banned family gatherings on extended lockdowns to five more regions of the country after fresh spike in covert 19 cases. He announced the return of curfews on Sundays as new figures showed a surgeon infections among Children and adolescents. An operation is underway north of Los Angeles to try to contain a rapidly spreading wildfire. Residents of 500 homes in the Lake Hughes area of California have been told to evacuate. The blaze has already engulfed more than 10,000 acres. Hundreds of firefighters and several helicopters and planes have joined the effort to bring the fire under control. A frog from the Brazilian Rain forest has become the first amphibian to be found to live in a dream religion E, where one male mates with several females who remain loyal to him had previously been found in some mammals, fishes, reptiles, birds, and even some invertebrates are America's editor, Candace Piet. Reports writing in the journal Science Advances Fab Yuji saw a zoologist at the University of Campinas in Brazil. Said the arrangement appear to suit both genders of the frog species. He said his team had found the male spread with only two females, mostly with a dominant one but also with the secondary female. This allowed the males to diversify their gene pool and for the females despite having to share they got a better quality male would provide them with good breeding sites. Baby Sr.
The Unfortunate Casualties of an Anti-Biotech Attack
"Today is a really special podcast is an amazing guests that we have that takes us back to the time when the tenor towards genetic engineering was very different back around the turn of the Millennium I. Guess is the turn of the century two two. It was a little bit different field before the Internet really took over the defamation of scientists and career assassination, and those opposed to technology took on other means to solve their problems. At least to. Agitate and we'll talk about that today in an event from two thousand and one and we'll talk more about that in a second speaking with doctor, Toby Bradshaw A. He's a professor emeritus in the Department of Biology at the University of Washington and thank you for joining me today. I really appreciate you being toby. It's a pleasure to be here. Yeah this is really an interesting point in history and I remember when this happened. And in a kind of kind of fell into the background a little bit, but let's set the stage if we go back to two thousand and one. What kind of work were you doing in Merrill Hall at the University of Washington. Since the mid nineteen nineties, I have been working on the genetic adaptation and growth in hybrid poplars. They're fast growing tree. News all around the world, but heavily in the Pacific northwest up to produce. Hebrew products primarily so I was involved with. The early molecular genetics research, including M Gino Mapping. And ultimately identifying traits that were responsible for faster growth, which I had a basic interest in, but which of course the temp companies had a commercial innocent. And where you're working with genetic engineering, or were you really just dealing with hybrids myself? I was only producing hybrid poplars through traditional cross pollination methods that have been used for centuries in in poplars around the world I was also collaborating with Steve Strauss. At Oregon State University on some preliminary work to genetically engineered trees, four different growth form to produce more would in a smaller land area, but I myself had never still have never a genetically engineered a tree. And really the facility that you were working at. It isn't on the campus, right? It's it's the center for Urban Culture and what are the kinds of things that were being done there well. It is technically on the UW. Campuses at the very periphery separated from the main campus by the Union Bay Natural Area A place for I enjoyed bird every day on my walk to work, so that was a nice interlude. Of every day, but the other kinds of work that we're going on at the Center for Urban Horticulture included a restoration ecology primarily for wetland restoration, understanding a plant succession after the eruption of Mount Saint Helen's in nineteen eighty was conservation work for rare plants, going on so rare plants in Washington be propagated for reintroduction into the wild, and that was a particular focus of my colleague I'm single ride card who you will hear more about later and the graduate students in Undergrad who doing their own research, their work on a wide range of topics, including for example how to? Have, urban gardens produce more food for people who otherwise might not be able to afford a fresh vegetables, so it was. A typical horticulture center I, think it most universities where there was a mix of basic research applied research in outreach up to the public in the form of extension. And, so it doesn't sound like this was the you know the the center of the universe of Monsanto or something I mean this sounds like a really practical extension oriented center that had significant roles in community, and and and even just in the regional agriculture's that's. Is that more what it was about yes? Oh, the University of Washington is not a land grant university. It's not an agricultural school. School, in the focus at the UW has always been a basic research and the center. For urban horticulture included in its mission, some applied research and quite a bit of extension and outreach up to the public, so in that way it was different from much of the rest of campus in its mission, but by no means is the University of Washington on any kind of center for plant biotechnology now. It isn't now. Yeah. Good basic biology know basic science and a lot of really good plant people there, but it's Can you give me a little bit of sense? Outside the University of like two, thousand, zero, two, thousand and one, what was the environment like a genetic engineering in your perspective and in your area of the country? What was really happening? Then in that environment, it was an interesting time. The first genetically engineered crops that were planted on a wide scale, had only been in production for less than a decade, so as a relatively new technology on the commercial sector, perceiving though scientists and people who keep up with science for familiar with the progress of genetic engineering. How it was eventually applied in agriculture, get caught a lot of the general public by surprise, and as everyone who's familiar with plant biotechnology knows that can sometimes lead to misunderstandings. And worse at the the first inkling that I had that anyone might be opposed to the kinds of research that I was doing was just a couple of years before in nineteen, ninety nine, when Seattle hosted the World Trade Organization meetings and I had some of my. Poplars. That were growing in pots out in the back forty behind the. Urban Horticulture. Cut Down by vandals during those WTO protests mean. As often happened to these kinds of things at my mind. The damage done to my plants was fairly minimal. Because these are poplars. Cut Him off. They just re grow the we. That's how we actually propagate them through cutting, so it had zero effect on me, but at the same time they went through and cut down all of the older seedlings that a colleague of mine was growing for re, vegetating streamsides in Alder. Don't re sprout after being cut-backs. Again it was one of these ready fire. Aim moments for an activist who really didn't understand. Even the species of trees that they were looking at i. mean did a lot more damage to someone else's research than to mind we might. Research was essentially funded by the wall critics,
Airbus Looks to End Trade Dispute With U.S. by Forgoing Some Government Support
"With the US over financial support agreements it has with European governments. The Wall Street Journal says it's agreeing to change its deals with Spain and France. Airbus says it believes the changes will put it in compliance with World Trade Organization guidelines and could lead to Removing US tariffs Ebony magazine's creditors air
Lighthizer defends China trade deal that Trump has soured on
"Brian here in the states trade rep Robert Lighthizer was saying the U. S. and China are still on track for a phase one trade deal Lighthizer was testifying today to a house ways and means committee this is a very complicated relationship it's gotten more complicated because of actions that they've taken recently I think we have what is an excellent agreements we have in place three hundred and seventy billion dollars for the terrorists in addition to all the things that I said so far I think it's a really good agreement the United States we expected to be honored the White House or went on to say the U. S. relationship with China has become a little more complicated because of a number of issues including things like cyber security human rights and of course trade he went on to criticize the World Trade Organization Lighthizer called the WTO a mass he said it hasn't served America or the global economy
"world trade organization" Discussed on Insureblocks
"Beat the Full Bang. Aware the WTO. The wants leading blockchain. winning. So I believe in diversity I think it's needed being terms of gender in terms of background. Ethnic diversity diversity is I believe what makes our world which it's what drives progress Jimmy at work. If you want team, you should not have only people with exactly the same background and the same ideas. What you want is diversity to stimulate discussion certainly thinking. To come up with new ideas. So yes, I mean I do think we should try and women to to yeah. Be Active in in blockchain. Well thanks for having invited me to participate in this podcast. US having an for having promoted diversity women in blockchain. This is exactly what we need to leave. Learn on, I, completely agree in. The father of two daughters for me. It's incredibly important to to show the important views and rolette women can contribute, and as you say, it's diversity. In gender at the necessity, which is. Extremely, relevant right now on during this whole movement of black lives matters how. To recognize all forms of diversity, so this is something we're. We're always GONNA. Promote initial blog so I WANNA. Thank you so much for sharing your insights on on whether or not blockchain can revolutionize international trade and there's wraps up this blogs podcast. We hope you've enjoyed this episode. If you like what you heard this week, please don't forget to subscribe to our podcast. We do love especially good reason. Please don't hesitate. I'd love to have you back on the show. Perhaps when this whole pandemic has come down and you had a chance to. Re Look at your periodic table and updated love to get your insights by then, but for now thank you so much. It's been a real pleasure. Look forward to having you back on the show. Thank you very much for having united me. Thanks a lot. And hope to be back soon. Curse.
"world trade organization" Discussed on Insureblocks
"Have tried to build those bridges, but I can't do it on my own and a Rennie thing that we need to to work together. We will need to create this governance structure, and for the moment it's not there. Yes yes I mean got governance in you know the regulatory. The regulators institutions all collaborating is definitely something which is very important, and as you say, you know we need to resolve is digital island problem. And what are you of us on this recent announcement? Regarding? Hyper, Ledger Cactus, which is looking at bringing? Apple Fabric, he theorem and corridor to to look at this whole question of interoperability is is something that you've had a chance to look at? I think it's very good. It's very good and are welcomed this because we need more of that. We haven't aged CACTUS. is trying to address one aspect of inter appropriate in our. You have integral nitty shoes at different levels. So so we need more than just had major captures, but clearly this is one element that that counts that will help us build some interoperability to between the different platforms. Exactly Not Appreciating we've kind of gone off and a little bit of an a tangent I. WanNa bring it back. You know to to international trade because. In documenting e talk about four processes over international trade where blockchain can help. Could you please give us a brief introduction to each of them? In how can blockchain can assist sure is indeed at a referred to. To these process, commercials, actions refinancing transportation controls, but actually mainly look at those that directly related to w to you to donate to issues of trade, finance, transport and obstacle measures. In other words, so customs terrence. Now in, did you? I think you could write a book on issues sauces. But Just simply five, an international trick action involves various roles. You have physical flow. You move the goods from point a to point B. and that's where transportation logistics. Is Critical, then you have the financial flows which is moving money from the center at. Fire from the The buyer. Sorry to the center and this is where trade finance comes into play. Underpinning. Lewis you have the documentary flu, so the berries documents that on this article Pete, the transaction you need to present a certificate storage in a fight to scientific kids. You need to present different documents like the of mating for example on that I, really mentioned. Now in all these processes, there are many actors in bold as already mentioned to you in quarter, you had the exploratory. Have banks trade finance you have cakes will water the ocean carrier and the air, or in transportation services to of the goods you have the authorities and are more than just one. You have the since authorities which you can have. A number of authorities also involved to deliver the gift certificates. Now why is an interesting for these different processes, because it allows the multiple players to contract with each other in real time and hydrogen bombs..
Trump WHO funding cut prompts criticism as virus spreads
"This afternoon president trump said he is severing U. S. ties with the World Health Organization over the U. N. agencies handling of the corona virus pandemic we will be today terminating our relationship with the World Health Organization and redirecting those funds to other worldwide and deserving urgent global public health needs the president did not take questions during the roughly ten minutes long rose garden address which focused on China and here's global health correspondent Jason Beaubien was listening and he joins us now hi Jason hi Mary Louise prison trip has been threatening for months now to pull the US out what exactly did he say today about his reasons his primary complaint is that he says China's been covering up this outbreak and that that allowed it to spread all over the world he says the W. H. O. went along with these Chinese efforts to mislead the world and he says China has total control of the World Health Organization the speech blames China for the pandemic and accused the W. H. O. of being China's accomplice and that and do we know why now is there something he referred to that he says forced his hand to announce this today you know that's really unclear A. on may nineteenth he gave the WHO's thirty days to reformers said he was going to cut off funding to them entirely that was in the middle of the world health organization's main annual meeting well now it's only been ten days it was never clear exactly what the reforms were that he was asking for WHO's even expressed that they aren't clear on what are the reforms that he's looking for from them it has been on my mind is does the president actually have the authority to unilaterally decide I am terminating this relationship with the world health organization that also isn't entirely clear I you know he has pulled out of several other U. N. agencies he pulled out of UNESCO the cultural arm of the U. N. in twenty seventeen he pulled out of UNHCR the UN human rights council in twenty eighteen the WHO's somewhat different it's a member organization it's sort of like the U. N. itself Congress authorized the west to join the World Health Organization back in nineteen forty six after World War two and the WHO's charter it actually doesn't have an exit clause most governments are trying to get in rather than get out Taiwan for instance has been lobbying very hard and that has been something that the trump administration has really argued for is Taiwan's involvement in the WHL but trump however certainly can terminate U. S. funding to W. H. O. U. S. is the largest funder of the World Health Organization he can tell scientists at the CDC to stop working with the agency he can pull out of any trials that might be going on for for vaccines are testing of pharmaceuticals to to potentially treat Kovin yes he absolutely has the authority to do that just to step back for a second I mention this was during a big ten minute event that was mostly focused on China what more do we know about this disagreement with the World Health Organization is it is it coincidence that he made this announcement while he was talking about China yeah it is I don't think it's a coincidence at all the speech in the rose garden listed a lot of trump's grievances with China at the World Trade Organization was one of them Hong Kong trade the coronavirus and regarding the covert pandemic he blames China why is it that China shut off infected people from Wuhan to all other parts of China it went no where else it didn't go to Beijing it went nowhere else but they allow them to freely travel throughout the world including Europe and the United States I have to point out that this is simply not true China had cases that spread to every province and territory in China including Beijing yeah and fact check another thing is there a idents that the W. H. O. was working with China to cover up the severity of the outbreak there really is no evidence of that this seems to get at the trump administration's misunderstanding of the WHO's role they have no authority to go into another country and tell that country what to do or force them to disclose anything the W. H. O. simply reports what China or any other member station reports to them and the W. H. O. says they have raised the alarm early and often about this
Pompeo says Hong Kong is no longer autonomous from China, jeopardizing billions of dollars in trade
"Andrew Andrew bush bush is is joining joining us us former former chief chief market market intelligence intelligence officer officer at at the the commodity commodity futures futures trading trading commission commission he's he's an an economist you can find them online at Andrew bush dot com Andy let's begin with the secretary of state is that he's basically talking about Hong Kong and how it's it's not necessarily separate from China not autonomous right in this is really key because under the U. S. Hong Kong policy act of nineteen ninety two we treat them as fully autonomous for trade in economic matters even after China took control well now it the U. S. says that they're the same as China then that exempts that takes away that exemption of terrorists right they did president trump put on China overall an inmate disallows Hong Kong to import certain set their attention technologies in support in international bodies like the World Trade Organization in other words you it can make it really difficult on China to repair on Hong Kong to remain as stellar piece of financial and trade kind of a special place I'm going forward and I think that's where the U. S. is heading with this because of what China is trying to do and what the Hong Kong government is debating right now about changing their policy towards towards Hong Kong being able to our members of Hong Kong's population be able to say bad things about the Chinese anthem I I I know that sounds a little bit crazy by but it's a sixty five hundred dollar fine a potential three years in jail if you come out in dis on the anthem of the Chinese and this was happening in a sports arenas and that's why they're they're moving forward on it so what's the play here for the United States why come out and say this now well because essentially they're taking their abrogating the agreement China has with actually the U. K. I'm taking over the Hong Kong in keeping it completely autonomous you know two countries or one country two areas have forget what the phrase his I'm sorry I can't remember right now but I I think they're gonna move forward out of the danger for the market why do we care about this is because this could escalate another round of trade war between the United States and China overall on the U. S. could put trade sanctions are raised terrace back on the Chinese on this could disrupt whatever early green shoots that we had a beginning of the day breaking down of of the recent trade war so that's why we care about what goes on in Hong Kong
China slaps Australia with barley tariffs as trade tensions flare
"Morning Australia's trade minister says his country doesn't want a trade war with China maintains Beijing is erred by imposing stiff tariffs on Australian barley in what's widely seen as punishment for advocating a probe into the corona virus pandemic China affectively ended imports of Australian barley by putting tariffs on more than eighty percent of the crop accusing Australia of breaching World Trade Organization rules by subsidizing barley production and selling the crop in China below cost a move coming a week after Chen of China banned beef imports from Australia's four largest slaughterhouses over labeling issues so the thought to be in retaliation for Australia calling for that
Roberto Azevêdo quits as WTO chief a year early
"The financial analyst and broadcaster. Lewis Kipah Good morning to you. Louise Morning Georgina. Big News from the World Trade Organization. Yes so the World Trade Organization is in the midst of an existential crisis that has just been made considerably worse because the head the boss of the WTO has just stepped down Roberto as US Bit of a surprise departure the World Trade Organization's been existence for twenty five years. It's been battered by president trump's criticism. It's been facet by the China America. Trade war it's been well. It's functioning has been significantly damaged by president trump's failure to allow another judge to go into court appellate body the judges world trade disputes that that Appellate Body Body doesn't have enough judges on anymore so is failing to function and of course now we've got the krona virus which is going to cause global trade according to WTO to full by about thirty percent this year. Which is catastrophic. Global trade has been increasing gear off year after year for decades. And you've got to remember. The origins of this came out of the Second World War. The push economist may not canes out of the desire to create a way for disputes. To be. You know. Get disgust rather while than anything more serious. And I'm a believer in free trade. I'm believe with the benefit that it does to us. Free Trade and there's plenty of economic rationale for the huge benefits to be accrued for for free trade and this is really quite depressing and really quite worrying about the future of this body that has done so much to improve the economic lives of so many around the world and is there anyone in the frame to take over who would want the job. Frankly he would want I mean on top of that we've also got the row currently between trump although he seems to row with everybody and Beijing about the phase one of the China. Us trade deal and he wants to go back and negotiate it. I mean frankly. I looked today as one. Commentator said it's not worth the paper it's printed on but even so it was something that could be waived as a sign of conciliation between the two sides.
U.S. tells WTO 'no valid basis' for EU tariffs in Boeing-Airbus subsidy fight
"News the United States tells the world trade organization that it's fully complying with the ruling on government aid to Boeing and the E. you would be wrong to retaliate Kamose Charlie Harker has the story Boeing was found to be in violation of a WTO agreement on trade in subsidies and as a result the E. U. home of Airbus had threatened to issue retaliatory tariffs not only on Boeing but on all sorts of Washington imports such as wine food even video games so a couple months back the Washington state legislature repeal those tax breaks the US now tells the WTO would be unfair to retaliate Reuters reports Airbus says this is simply a claim that would have to be reviewed by the
A Look Back at HIV
"Before we jump in. Let's clarify what exactly HIV and AIDS are good call. Hiv stands for human immunodeficiency virus which is a virus that causes Acquired Immune Deficiency Syndrome or AIDS. Yes so HIV is a retrovirus which means it is an rn. A virus that is a cellular machinery from the infected cell to do a reverse transcription of itself a DNA version which is inserted into the cells on DNA when the cell becomes active. It will make new copies of the virus that go out and continue the cycle and this is important because the drugs that we use today to combat HIV a variety of antiretroviral agents target different points in the cycle. The right combination of drugs can keep the viral load solo that it isn't detectable exactly so HIV infects a specific immune cell the CD four cell and over time the virus kills a CD foresaw which being part of the immune system plays a critical role in the body's ability to fight infection as de decline. The body becomes susceptible to opportunistic infections. Right these are often infections caused by pathogens that are normally present in on or around the body but a healthy immune system recognizes them and keep them in check someone with the depleted immune system however is susceptible to unusual infections. That healthy folks don't need to worry about. Plus they're they're susceptible. To all the irregular infections even healthy people get okay so an untreated course of goes something like this. A person is infected with HIV. The virus being transmitted during sexual activity directly into the bloodstream during childbirth or breastfeeding or a blood transfusion at this point the virus makes its way to the lymph nodes where has access to lots of CD. Four cells and replicates like crazy? This goes on for about three weeks three or four weeks. The patient may experience a viral type of illness during this time period. Fever swollen glands rash but not everyone experiences this yes and it feels like a regular just viral infections. So you don't really think about that. That might be what it is but after about two weeks the viral load in the blood is at a peak and CD four levels fall. This is a period of time where it is really easy to transmit the disease to another sexual partner because the viral load is so high after about six months the viral load and CD. Four count stabilized to set point and the chronic phase issue begins. This can last a up to ten years without treatment during which HIV gradually destroys CD. Four cells at some point the CD four count gets low enough. That opportunistic infections are possible. Yes and that's how we define AIDS either the CD. Four count is below two hundred cells per mil or the patient has an AIDS defining conditions such as retinitis from cmv cytomegalovirus or invasive cervical cancer or many many others so this was the typical course of disease for people early in the epidemic. Did you amy? That AIDS was around before the Nineteen Seventy S. That's when the epidemic began but it is believed that the virus jump from chimpanzees to humans in the Democratic Republic of the Congo in one thousand. Nine hundred and sporadic cases were reported from then until the mid seventies when the epidemic got its legs. Very interesting now. It wasn't until Nineteen eighty-one that we really understood what was happening in. La There were five young gay men who develop Mrs to screen pneumonia PCP which is now new. Mississippi'S VICI pneumonia. I know I can never get used to that. I still call it. Pcp Yeah. I'm sure a lot of school. It was pretty much standard at the time right. I mean that was like defy so defining but anyways another group in New York in California who developed Kassy's sarcoma which is an aggressive cancer caused by the human herpes virus eight that wouldn't normally happen without a suppressed. Immune system right both of those diseases. And by the end of that year there were two hundred seventy cases of severe immune deficiency among gay men and nearly half had died. Yeah that we knew so fast forward. A few years by the end of nineteen eighty five. There were over. Twenty thousand reported cases coming from every region of the world. The virus was officially named in Nineteen eighty-six and in nineteen eighty seven A. Z. T. was introduced. The this was the first antiretroviral drug this drug worked by inhibiting the initial reverse transcription of the virus into DNA. This was a very exciting development because the epidemic was growing quickly. Now there were three hundred seven thousand reported AIDS cases worldwide compared to the twenty thousand. You mentioned just fine. Harsh prior and two hundred and seventy just nine years prior to that. It's impressive how. The pharmaceutical industry kind of ramped up so quickly research development. Yeah and those remember. Those were the reported numbers so they estimated that there were actually a million AIDS cases in another eight to ten million living with HIV worldwide. At that point. So if you're younger just in med school residency right now. It's hard to explain. How unsettling this was that how fast it was spreading right. Yeah and these patients were so sick and dying in such large numbers and there didn't seem to be in and site to the expansion of the epidemic. So there's a lot of fear and misinformation out there the had a policy to not allow those infected with HIV into the country and it was still viewed as a gay disease. So that created a lot of stigma for the LGBTQ community so by nineteen ninety three. There were two point five million AIDS cases globally the US Congress dug in and voted to continue the travel ban. Things are not looking good even with easy. T- which wasn't really panning out as everyone had hoped. And the fact that it was approved at all was questioned by many. Yeah so but in one thousand nine hundred things really started changing. This was kind of a turning point. The first price inhibitor was approved these inhibit the protease enzyme. Which is important in the translation of HIV v? Virus back into Aurigny. Yeah and this was the beginning of Heart H. A. RT highly active antiretroviral therapy and it immediately dropped deaths from AIDS related diseases by at least sixty percent but still there were thirty three million people living with HIV by nineteen ninety nine and fourteen million people had died since epidemic began. Those are huge as is to be expected the UN had to step in and negotiate prices to make antiretroviral therapy available to the people who need it The World Trade Organization that announce the Doha Declaration allowing developing countries to manufacture generic versions of drugs. Go See Fire Dallas buyers club. Yes also yeah so in the two thousands people who needed it weren't getting treatment aids. Was the number one cause of death in sub Saharan Africa. That blows my mind by the two thousand ten. A lot of goals had been set to get treatment where it was needed and have the spread of HIV an organization such as the UN and the World Health Organization and individual government agencies are getting involved at this point yeah the US finally lifted the travel ban for people with HIV treatments that decrease the chance of spread were discovered pre exposure prophylaxis or prep was shown to reduce transmission between male and male sexual partners by about forty four percent. Yeah in two thousand. Eleven research demonstrated that early initiation of antiretroviral treatment reduce transmission to partners by ninety six percent. So this is a real game changer. Because until this time the antiretrovirals weren't started until HIV was had started advancing and causing aids. So this is when they started the treatment early after the infection was discovered and it really changed things as far as transmission. Yeah as related. Deaths fell thirty percent from the peak. Year two thousand five and thirty five million people were living with HIV dramatic slowdown in the spread of the epidemic compared to previous decades. Yeah Okay but now we may find yourselves at a standstill here. We are twenty twenty because the immediate crisis of the wildfire spread and almost certain death is well behind us. Attention has waned key populations that account for over half of new infections are not receiving access to combination therapy and the gap between resource need and provisions as widening. The funding is is shrinking. It's pretty typical right. Yeah as a species. Humans aren't very good at thinking long term. If it's not an immediate threat it's not threat right well. It is a threat to those populations. So there's clearly still stigma that has marginalizing
US to hike tariffs on Airbus planes
"The US government is to increase tariffs on Anna Croft imported from the European Union the rise from ten to fifteen percent will come into effect next month last year the World Trade Organization said Washington could legally impose tariffs on European exports with seven and a half billion dollars in retaliation for European aid to the manufacturer and the
How the US-China trade war has changed the world
"One of the biggest economic and I'm ex stories of the year was the US China. Trade war the. US and China are the two largest economies in the world and they're also major trading partners so when they do things like impose tariffs on hundreds of billions of dollars of goods travelling between them those ripple effects can be felt everywhere from your wallet to Wall Street. It quick recap. President Trump has claimed that bad trade deals and unbear- Chinese policies have cost the. US Big time. He's also complained about the US trade deficit with China. Trade deficit is when a country imports more than it exports not. Everyone agrees that a trade deficit is bad for the economy but trump does think so and sees tariffs as a path toward ending the trade deficit with the EU Mexico and Canada and most of all China the first shot in the trade war with China started in early two thousand eighteen. That's when the trump administration ordered a thirty percent tariff on solar panels and washing machines and China clapback with its own tariffs on thirty. Four billion dollars of goods later. China also filed a challenge with the World Trade Organization alleging that the solar panel tariff was in violation of trade rules and was hurting China's trade interests that back and forth retaliation dance went like that for months with the trump administration carousing new rounds of tariffs and China announcing that it would do the same but the whole time. The hope has been that the tariffs would push China to make a deal at the root route of this. The trump administration also wants China to change how it does business the. US claims that Chinese firms are stealing US intellectual property patents or are forcing US businesses to hand over their technology in order to business in China earlier this month. The trump administration announced that it's reached phase one of a trade deal with China but economists have warned that trade wars like this can have negative effects on American consumers and American businesses. Even if there's a trade deal on the horizon is in
Trump's War on the World Trade Organization
"It took seventy years to put together a global system of free trade. That system has been in place since nineteen ninety five and it's governed by the World Trade Organization and the trump administration though has taken aim at the WTO. The president argues that he can get a better deal for Americans negotiating on his own. This was what president and trump campaigned on. It was very clear that president trump had his eyes set on destroying the WTO or weakening the WTO that voice. There is Chad Bone. He's an economist. With the Peterson Institute for International Economics He's also a veteran of the Obama Administration. President Trump has undermined the WTO in a few ways recently he announced two major trade deals outside the WTO. The administration has also refused to approve judges to help settle disputes between between countries. Chad bone says this is not necessarily good for the US. I think there's a number of different ways in which the United States is actually much much weaker without a WTO. Oh out there. The the first is yes we can do what we want unilaterally against other countries in certain instances but they can basically then do the same thing to us as well and the second is the way that the WTO works is it actually serves to help police and regulate the behavior of all these other countries in the world. And how they're behaving toward each other's the United States doesn't actually have to be a policeman or woman you know regulating trade. Between all the Japan's the Korea's out there of the world as well and we're starting to see those those types of of countries and those types of fights crop up and yes that in and of itself is going to have blowback against the United States when to other countries start fighting between themselves. Does that makes it more challenging for everybody makes it more difficult economically so I think destroying the WTO is actually going to be very bad for the United States probably in a number uh of unanticipated ways with unintended consequences. What in your mind is largely at stake here if if the WTO is truly in a moment of crisis to me the big big question is what comes next in what system replaces it so the WTO in its predecessor? This thing called the General Agreement on Tariffs and trade have basically established averaged the rules based trading systems since the end of the Second World War. And it's been a very effective way of keeping the peace for the most part in in trade relations until illicitly president trump came along. We've never seen a trade war and the scale of the US China conflict for example over the last seven years during this period. And if we're going to get rid of this this thing called the WTO. What is it? That's going to replace it. That I think is the really really big unknown. The United States doesn't have the power. I don't think economically that we had back in the nineteen forties when we created this existing system or in one thousand nine hundred five when we established the WTO itself. We're in a new state of the world old. What comes next? What if nothing comes next? What if the WTO goes away? And there's there's nothing to replace it if he goes away. I think then we are very much in kind the law of the jungle. And you know I don't want to suggest that we're going to head back to the nineteen thirties But that was really the last period of time in which we lived in a lawless trading world where there weren't these agreements that kind of restraint governments from imposing lots of tariffs on one another but I fear her without broadly held shared views on. What the common rules that we should all abide by an international trade should be lawlessness? Maybe where we end. Yep
MAX Production Halt: Why, And What's Next?
"Today we will talk about things decision to suspend production of the seven 737 Max. The vision will become effective in January in the expected to halt final assembly of the seven. Three seven for several months only two times before has seventy seven production been stopped nine thousand nine hundred seventy during the meltdown of the final assembly process in the transition from. I'm the classics to the end. And two thousand eight because of a strike that lasted fifty seven days now. I'm still a little puzzled. The Max has been grounded. Since March and Boeing has continued to build forty two aircraft ever since in spite of the delays. It seems that it may only be another few weeks until the grounding lifted. Couldn't they have just decided to continue longer rather than making this expensive offensive and Disruptive Decision Sean they certainly could have I think that their decision to to to to suspend production reflects the still high level of uncertainty. That we have with the status of the Max I the airplane lane has been seemingly a few weeks from getting at least FAA approval for an awfully long time a a obviously when when the grounding when the global grounding was put in place in March they quickly announced it was within what a couple of weeks wasn't Michael that they were GonNa go down from from on the seven three program from fifty to forty two that was effective in April. Yes and then from there. They've done nothing as to why they did it now. I think that they were that. The situation with having to store airplanes and then importantly managed to return industry the delivery of those airplanes in addition to the return to service of three hundred and eighty seven. That were grounded. which Boeing is going to help some of that? I think they would get into a situation where her. That's going to be a mini program in and of itself and I think they hung on for as long as they could and they don't know when the airplanes going to be back in service and not just the they may be a month away or two months away from getting FAA maybe Transport Canada and maybe Brazilian gene approval. Let's say but I think that you have to add time for JASA. You have to add time for maybe a lot of time for China. Yeah and Boeing just doesn't have clarity when all of their customers are going to be ready to take airplanes again so so the production halt is one way to at least you know no stop the queue from building to Q. That's GONNA would've continued to build even after the initial return-to-service approvals. I just WANNA add on a couple of things in the background of what Shawn said. We know from Boeing's announcement that they cited the growing inventory of part seven three sevens but that like anything else is just one probably one element of the bigger picture on why they decided now to finally finally do this. We don't know the other reasons for sure but lots of analysts are speculating out loud. That they're cashflow. Reasons for for instance Money coming in from advanced payments is drying up As time goes on and we know that simply because there there have been almost no orders for this airplane since the ground and the cutback in production and that advanced cashflow does. Help the bottom line at Boeing. It it at least supports ability to carry out business operations. And if you suddenly don't have that cash flow but you want to continue doing business like normal even at a forty two production rate. You've got to do things like cutback spending and other parts of the company and you may also want to take out more debt and these are things that have been happening A. and Boeing and so internally you imagine that the CFO. Greg Smith kind of target and his mind all along has to win the easy Tools the levers to pull financially. We're going to run out and then they'd have to make a bigger decision about halting production altogether and it looks like for whatever ever reasons they've come to that position so Michael. What just overall what? What do we know about the financial impact? You mentioned cash though this obviously see a big big costs aspect to this. What's what's known what's not known what is known already is that Boeing has announced more than eight billion dollars? It's an charges on a on a annual basis and that a good chunk of that five the six billion is related to what it was basically calling customer compensation in regards to making up for the lack of delivery in the ground uh of the MACs with its airline customers but There's other money that's getting added to the production block. Units for the seven three seven. Remember remember that Boeing accounts for this program a little differently than Most production products are accounted for four. And so there's money piling up and at this point I have not seen analysts say that they expect anything less than that. More charges urges getting announced that'll be incorporated as part of the fourth quarter earnings. That are happening right now. That announced at the end of January. I think it's January. twenty-ninth is Boeing's next quarterly announcement. But that's almost guaranteed according to Wall Street to include even more charges so who knows how much more whether it's billion early in two billion five billion at that is all speculation but we know for sure it's already eight billion and it's going to cost the more. There are other ways to account for what the cost is the debt that Boeing D- Let me back up for a moment Boeing's taking out more debt has been for various reasons one of which is to support business operations during this Max but it was also taking out debt to try to close the emperor. Acquisition It is struggling to still do that. Caught up and a different crisis of sorts that's related to the tariffs happening between us and probably Europe back on the US to to the World Trade Organization. Rulings there so Boeing has been taken out more debt than I thought it would be at this point a year ago and while that debt is pretty cheap on a historical basis it's still incurs costs. The Boeing really wasn't expecting affecting to be pain at this point so they're all kinds of other charges that are not charges but there are costs that are probably going to get wrapped up in that full year statement that we hear about at the end of January
An interview with Huawei USA's chief security officer Andy Purdy
"With any party is chief security officer while a technologies USA he is joining us in our Bloomberg interactive brokers studio in New York of course while a very familiar to her audience I feel like amid the US China trade tensions that we cannot forget the commerce department blacklisted while way back in the spring to stop American businesses from selling components to the company the White House for a while is accused of the company being a threat to America's national security let's kind of roll it all together any good to have you here with us because I feel like the more conversations we have on on these types of issues the smarter we all gatt the recent bands that have come out from the administration what has that done to you guys as a company and in terms of interacting with American businesses well there's certainly been an impact on while a we've got nearly three hundred American companies that want to sell to us the supply up to twenty five or thirty percent of all of our global components so we've had to move to what they call plan be something that IBM and recommended we start we did start sometime ago so we have had to find alternatives to those and right now we're able to ship our five G. technology with no American components so we're not entirely sure the impact on us but we do know that over forty thousand American jobs hang in the balance for no good reason so we hope that these issues can be put aside this effort to attend an effort to hurt China wear them hurting America we're cutting off our nose to spite our face and what sort of progress if any are you making in Washington to get that message across or they'd listening or are you sort of shouting into the wilderness here we're not making any progress I mean the fact is and I think the existence of the US trade talks the geo political situation although everybody says if we're not connected to it of the government won't even talk to us they won't talk to us about the kinds of things that allow Nokia Erickson do business in United States despite their deep ties to China so we hope that if that if there is some kind of a trade deal it may be that the government will talk to us about these negative on Telefonica the German company just came out the side to do a five year contract with us despite the pressure of the U. S. on Germany so we can address real cyber security risk and we'd love to collaborate with the US government what's the future though I do think because we have a ton of conversation the magazine just this week has a story about Chinese Americans who are be called especially those who work on government projects and have high security clearances where they're under heightened scrutiny and sometimes wrongly so and so I do wonder like what is the future in the in a world we talk about a bifurcation where it's kind of the U. S. versus China what does that mean for a company like you guys in the Verizon CEO recently said we want to avoid a five G. Cold War brightness came out and said it did it it just doesn't make any sense we see very important things happening in Europe for example in Germany with a telephonic announcement but the government is working hard the European Union is working hard to try to come with objective and transparent basis for knowing which products are worthy of trust because the bad guys out there have great skills we have to use very good technologies to address the rest that that comes through all products so any of I want to ask you because your background you worked in the White House mean you understand the other side of the table in many ways how surprised were you that all this went down essentially knowing how the sausage is made on the other side well there's been some longstanding concerns you know and although the terrorists help obscure these fundamental agreement among the Republicans and Democrats the concern about theft of intellectual property the concerns about forced technology transfer the threat that the US sees from China as China has grown economically and militarily these are things that the the cut across the board and so and legitimate concerns well let's put it this way our government the American government has to make sure that we address the rest to this country we've got to learn lessons like from the seventy five years ago DJ in cyberspace we have to be ready much more ready with we were when the Germans and the **** swarmed over Europe we have to be ready to address real rest and we think it can be done that it has to be done with standards and conformance programs for the operators as well as testing independent testing for the equipment we love the participate in those conversations but it is interesting too though that if there is a division of technology division and the world going forward we talk about a lot about five G. maybe there's going to be two standards are you know you do wonder what what what does that mean for global security concerns well it is a life what it means is a real threat to competition and and competition is critically important it's important for security it's important for resilience it's important for innovation we need to make sure that we have competition when you look at the equipment vendors there is not enough competition I hope no key is strong enough to to survive frankly hope that they're strong enough to do the are you D. that they need to with your expertise in understanding where you are currently and then as Jason mentioned you know having spent some time you know along the beltway and I just do wonder so what what is the answer because we do know in terms of our relationship with the Chinese that there has been problems with intellectual property and there has been a lot of technology transfer or if you're starting up a business you've got to do it along with a Chinese company you know it's very clear that the Chinese you know have a mission to be very dominant and I don't have a problem with that because I feel like that's capitalism a play but because of the past how do we know who what we're dealing with as as a country the United States well I'm glad I had the option to participate in discussions the United Nations here in New York last week with governments and private companies it's a combination of we need enormous for government we need benchmarks that we could hold governments accountable we could have mechanisms to create incentives and consequences of government if governments violate the rules but also unique companies you need independent standards you need independent testing so we can address the rest is the combination the shared responsibility that's gonna help us just thirty seconds what would be a great incentive for the two I needs to really make sure that turns the government conformity that it happens as quickly well I mean I think the global community holding them in other countries accountable the World Trade Organization to standards on the theft of intellectual property on forced technology transfer we have to have the visibility and then make clear when when a country whoever it is is violating those norms but it's interesting in a week where we know the WTO right wrist is weekend yeah to say the least any party we hope you'll come back we were only able to scratch the surface of a really important topic chief security officer at while way technologies here with us in our Bloomberg interactive brokers
WTO panel: EU fails to end illegal subsidies for Airbus
"A World Trade Organization panel ruling today that the European Union has not complied with in order to end illegal subsidies for plane maker Airbus that prompted the trump administration to impose tariffs on nearly seven and a half billion dollars worth of E. U. good in October the compliance panel found that the E. you had not taken sufficient steps to end harm to Boeing in the major rival for Europe's
WTO panel: EU fails to end illegal subsidies for Airbus
"S. the World Trade Organization says the European Union has not complied with in order to end illegal subsidies for Airbus a compliance panel ruled that the E. you had not taken sufficient steps to end the harm to Airbus rival Boeing that's what prompted the trump administration to impose tariffs on nearly seven and a half billion dollars worth of goods in October the block is expected to
US-China trade deal still up in the air
"Erica negotiators continue to say they are close to a new trade deal with China national security adviser Robert o'brien was aghast on CBS's face the nation this morning there's no deadline we want to get a good deal and I think we're very close to getting a phase one trade deal and it will be the first time that we had a trade deal where China has actually respected the the United States and and hasn't that was stolen intellectual property has been fair and reciprocal trade so we can get a good deal then we'll get a good deal I think we're very close the trade war may affect American companies especially hard tomorrow it will be singles day in China one of the country's biggest shopping days of the year but one consumer analyst things Chinese shoppers will avoid US products to make a statement about increased US trade tariffs consumers worldwide have a conscience they care about the concerns about their government with other respective governments I regardless of world trade in the World Trade Organization and it affects our purchase behavior of consumers whether it's in China or in countries worldwide as well China singles day began in nineteen ninety three when Chinese University students held parties to celebrate being
WTO Hands China a Trade-Tariff Victory
"The World Trade Organization said that China can now impose tariffs of up to three point six billion dollars worth of US goods over the American government's failure to abide by anti dumping rules with regard to Chinese products the move hands China its first such pay out at the WTO the two sides recently imposed tariffs on each other for hundreds of billions of dollars worth of
"world trade organization" Discussed on KCRW
"The World Trade Organization a penalty for improper European subsidies for Airbus jet liners now if you like Velveeta cheese Thunderbird wine in Kentucky Bourbon this may not matter but for those who'd like a dusting of pick a Reno or shot the move to pop or Scotch Scotch things are about to get more expensive and as market place's Justin how reports the E. you could soon respond in kind the US is arguing that the countries that make those products give illegal subsidies to Airbus is economics professor merry lovely at Syracuse University and so they're gonna pick products that will hit key interest groups within those countries earlier this month the World Trade Organization allowed the US terrace to go forward but the thing is that the E. U. S. also filed a WTO complaint about American subsidies to Boeing and the E. U. is already drawing up its own list of American exports to hit with tariffs include frozen fish citrus fruits catch up that's Catherine Ross an economics professor at UC Davis Russ says the American agriculture sector is especially vulnerable if your upper tally aids Europe is the third biggest market for American farm products they're also an important destination market for aircraft chemicals machinery pharmaceuticals the US exports three times the amount of goods to Europe as it does the China the WTO is reeling and Boeing subsidies is expected sometime next year I'm just an HHO for market place the biggest initial public offering of stock in the known galaxy has been delayed from any day now to maybe December January it's this Saudi oil company Aramco the Wall Street journal's reporting Saudi officials want to fine tune the prospectus after some big investors complained they weren't getting the data they need I spoke this morning to Valerie Marcel an associate fellow with the British think tank Chatham house in London well I think arm really boxed in by the crown prince and haven't been found and early announcement that he would be cheaper to trillion dollars valuation eight as an investment if they don't get the valuation they want so I think there's always delays in this process and so the timing probably will never be right to get that two trillion dollar valuation so I would expect further delays are changes to the offering her right to trillion with the T. as in tremendous there is news economic growth in China is the slowest in three decades worse than expected markets London's footsie.
"world trade organization" Discussed on The President's Inbox
"So the pipe and Tube company can make that steel into tube and then sell all that to bet a really cheap price into the United States so could be directing resources actually to go to another company or it could be the government says please make steel and if you have any excess I'll buy it all back from you at a super high price so the government is effectively purchasing the goods from company and paying too much for them as a way of giving a benefit. It's not a level playing field. It's not a level of companies not just American companies European companies other Asian companies which they ended the day have to make a profit on what they're doing in the Chinese firms can afford to lose money because the government of China will build them out and that's exactly what's happening and all the data is showing for example that the return on assets this sense of you know. How profitable is it of the state owned enterprises in China is just going down and down down and down and the bigger the state owned enterprises become and the more state control they are the worst they're doing so in our economy? They would be in bankruptcy but they're not because they're in China and because the government is propping them the other thing that these subsidies allow is tremendous amounts of overcapacity just huge amounts of steel that the world does not need huge amounts of aluminum. The world does not need huge chemical plants that the world does not need again that amount of overcapacity over-capacity has an effective dampening prices around the world so it doesn't even matter whether China's sells the steel into the United States or somewhere else just worldwide prices are being pushed down because there's too much steel sort of sloshing around trying defined a home this message Jennifer Levi fairly pessimistic which is that you have an institution that doesn't seem to have rules to deal with this kind of behavior. It is significant. It's not something that's happening on the margins the Chinese if anything have been more forward leaning in sort of exploiting taking advantage of or ignoring W._T._o.. Rules giving you also have is particularly this administration which is hostile to the W._T._o.. Can W._T._o.. Be Salvaged particularly given as you mentioned come December burn it could effectively be sidelined won't have enough members of its Appellate Body to move ahead well my own view is I think it can and frankly I think it must be salvaged because leave aside the China issues what is the United States get from being a member of the W._T._o.. First and foremost the bedrock principles of the W._T._o.. Are you cannot discriminate against a member of the W._T._o.. You cannot impose tariffs or other restrictions that on the United States that are different from those that you put on every every other country so if the United States were to effectively kill the W._T._o.. By these efforts what the concern I think a lot of us would have is then you're really walking away from a rules based system and if you do that it means that every country in the world can discriminate against against American goods American services American intellectual property just because it's American and we really don't have any recourse and at this point. I think the trump administration assumes that nobody will do that because the United States is so big but that was the same thing that they. Assumed when they put tariffs on steel and aluminum which they did you know two years ago and what happened a lot of countries in the world did retaliate against the United States again when we put these tariffs on China China retaliated so. I don't think it's it's a safe bet to say that the United States will necessarily win if we walk away from the W._T._o.. Or effectively kill the W._T._o.. Because then we really are at risk without rules. You're going to get a power base system or chaos based a system in which it's not clear that the United States will win partly because trade has changed so much since the GATT was formed because of supply chains global value chains again you think about all the goods that are made in the United States. The vast vast majority of the components in those goods are imported so we need to be engaged in the trading world. We cannot be all by ourselves. I want anymore I wanted to the W._T._o.. We need it and so I think the effort really has is to be made to figure out a way to reform the W._T._o.. To allow the W. T. O.. To be an institution that can deal with digital commerce and all of the global supply chain issues that arise and deal with problems like state owned enterprises in China and create a Reform W._T._o.. That garners enough sort of support that those in the business community and the Labor community and elsewhere realized that they are far better off with a rules-based W._T._o.. I think big question there though is whether or not global supply chains valuable one way reading the trump administration policy is they're trying to disrupt global supply chains trying to drive firms business back to the United States thereby increasing jobs here in the United States hates the empirical evidence so far is that let's pickle in the case of China Jaws and be leaving China with they're not coming here the United States but that can be a very hard argument to make voters because it sounds to them without knowing a lot about how this all works that if China China is doing worse. We're going to do better but that may not be the case and I think you're right. It's so far the evidence is that it's not the case again. The production may be moving to Taiwan or Korea or Vietnam or two other places but by and large. It's not coming back here here to the United States it also presumes that if you build this big kind of tariff wall around the United States such that everything has to be made in the United States in order to be sold in the United States that we are going to be better off and what again I think that ignores is that you know we're only less than five percent of the consumers in the world. You know sort of ninety. Five percent of everybody else is outside of our borders so if we do put this big tariff wall around the United States it makes U._S.. Goods very expensive expensive in comparison to the whole rest of the world so what it will mean is we will have a very hard time exporting anything and you clearly see this already in what our farmers are facing <hes> the farmers in the United States right now are really hurting because China it has put tariffs on U._S.. Soybeans and other products Mexico and Canada put tariffs on when the United States imposed steel aluminum tariffs the Europeans put tariffs on and so what happens when everybody starts. This kind of escalation of tariffs is we can't export export and for some sectors of the U._S.. Economy particularly agriculture experts are king. Those are the primary markets for many of our farmers and they're being shut out of them by tariffs and the tariffs are being put on in response to U._S.. U._S. tariffs so it's clear at least to me that this idea of building a tariff wall around the United States isn't going to work because of the degree of global supply chains and because it cuts off our ability to export let me just ask you one final question Jennifer for an it's really a question whether you're optimistic or pessimistic that a deal is going to get done between Washington Beijing over the the trade spat in if that does happen. Are we going to see this use of tariffs galway under the trump administration. I believe that there is the prospect for a deal but I am not particularly optimistic and part of it is it's a little less clear to me exactly what the U._S. is really seeking many of the times when you hear president trump speak a what he talks about is the bilateral deficit with China if that's really what we want that is relatively easy problem to solve because China can agree that it's just going to buy more American soybeans more American products but at the same time what you're hearing from U.. S. T. R. Lighthizer in a number of other officials. That's not at all what we really need what we really needed. Structural important changes in China around this degree of state owned enterprises around the Communist Party control. We need China to stop stealing our intellectual property pretty. We need China to stop forcing the technology transfers that are occurring right now. Those are much harder problems to fix and in my own view. I think it's unlikely that China will make the kind of structural changes that that are being talked about in that side of the table without allies. We need our allies if we're going to get China to make big changes and right now we don't have them so for. We haven't talked.
"world trade organization" Discussed on The President's Inbox
"And you have a series of courtesy interviews if you will with all of the ambassadors or the chief lawyers from a number of countries and they're asking a lot about how you're going to approach decision making what you dish ah philosophy you have how you read particular provision of the W._T._o.. Agreements and then there is a formal selection committee that is headed by the head of the Dispute Settlement Body and includes the director general of the W._T._o.. It includes the chairman of the Council on trade in goods and services so the big committees of the W._T._o.. The chairs of those committee's plus the Director General of the W._T._o.. Then sit and give you a very formal interview. It's a little bit of a mini test of your knowledge of W._T._o.. Law as well as again a sense of whether you have an appropriate judicial if you will personality so they've done their own interviews and then they do confessionals where everybody else that you've talked to comes in and says I like this one and not that one we don't want this person to be on the Appellate Body we like this one and that one and ultimately that selection committee comes out with their recommended slate and then that recommended amended slate goes up to and approved by the Dispute Settlement Body so again. That's all one hundred sixty. Four countries have to at some levels sign off on that recommended slate. That's how the process is supposed to work but for almost the last two years the United added states has been blocking any process any discussion. Even the beginning of this process has been blocked by the United States so instead of having seven members the Appellate Body is now down to just three and of those three two of them will have their terms expire on December eleventh of this year so the Appellate Body will effectively be out of business and unable to render any decisions after December eleventh. Let's because under the rules you're required to have at least three reminded habit at least three members ember sitting on any given case in order to render a decision. I want to get to the issue of the consequences of not having enough members of the Appellate Body but before we get there. Perhaps you should unpack. What is the beef the United States as against the W._T._o.? Now we last two years. That's really the trump administration my senses that the Obama Administration had its own grievances against the World Trade Organization. I believe I blocked your renewal career ready members if you could soak. Could you over what the Appellate Body has been doing. You are correct have been going on for a number of years well before the trump administration. It's just that the trump administration has been the first one to block even the process even the consideration even the discussion in Geneva lever to appoint a new member it has never gotten to this point until now but the concerns have been there all along and boiled down. I think the concern of the United States has been that the Appellate Body has rendered a number of decisions that in the U._S. is view who have either taken away a right that the United States thought it had when the W._T._o.. was created in one thousand nine hundred five or that. They've added an obligation that the U._S. didn't think it had in other words as U._S._T._R.. Lighthizer put it it <hes> at a recent meeting that countries are getting through litigation things that they could not get during the negotiations that led to it so the argument is really that the Appellate Body is writing the rules making up law instead of interpreting what already exists when I talked to officials from Europe they tell me that's what they expect the W._T._o.. To stay view it as a court that it's organic in that sense of laying new all my senses the American point of view is there's a contract in essence. All you're supposed to be doing is enforcing the contract. It's a fundamental and there is a real fundamental difference of view because in every case that the United States is saying. You're writing the law. Look at that. You're you're adding something that wasn't there. The Europeans are others may say again. I don't WanNa say just the Europeans but what others may say is no. They're interpreting a given piece of text and the given piece of text did not specify every single little little thing that could be or might arise under it. It's a general taxed negotiated by all of these countries. It has some ambiguity in it. It isn't like a contract the entirety of the W._T._o.. Agreement you know is is a book. That's less than an inch and a half thicke. If it were actually a contract you would have page after page after page view is the Appellate Body's doing what it's supposed to do which is to interpret the texts that's there the United States as you say takes a very different view of anything that was not specifically prohibited specifically prohibited should be considered to be again permit it and therefore the Appellate Body's shouldn't be saying no United States. You can't engage in this behavior or that behavior because it wasn't explicitly by exact act contract prohibited of the sexes into the range of criticisms of the W._T._o.. That the United States loses too much at the W._T._o.. President trump clearly has made that charge over and over again. Is that fair no. It's not fair at all. All part of it is the United States is actually one more cases than any other member of the W._T._o.. Partly that's because the United States has brought more cases than anybody else at the W._T._o.. And somewhere between eighty five and ninety percent of the time when we are the complainant when we're the one challenging we win what the President I think is referring to is. We've also been on the receiving end of a lot of complaints and many of those when the United States has done things that other countries countries perceive to be again against the rules. Yes we have lost a significant number of those cases but the question is where's the right way to think about the ballot and I think part of it of course is that what cases get filed depends upon when countries think they're going to win. Lose so countries are most likely bring cases against the United States when it's pretty clear they're going to win so the statistics will be misleading on that score. I have seen it. The Chinese have done actually worth in the United States Correct W._T._o.. Correct the China has clearly really been on the receiving end of a lot of complaints by countries around the world and China has lost virtually every case in which they've been challenged that raises a broader question sort of tied up to this obviously the trump administration president trump has been using tariffs roughs against China to get a better deal for the United States and this part of the agreements of this administration but not solely of this administration is that it was either a mistake to let China into the W._T._o.. Oh back in two thousand and one or the China isn't playing by the rules. How do you assess those arguments? I guess I'm not one of the people that thinks it was a mistake in two thousand one but I certainly recognize that somewhere shortly thereafter two thousand four two two thousand five two thousand six people might debate win. It was during the time that China was joining the W._T._o.. China clearly was on a path a to become more of a market economy and be to become more of an open economy where they were prepared to let Ian in all kinds of people goods services a materials and at some point and my own sense is probably around two thousand five two thousand six China took a major u-turn and went in the complete opposite direction and what you've seen recently is much more of an increase in amount of state owned enterprises. The size of the state owned enterprises Chinese government is forcing a lot of mergers between their state owned enterprises such at the state is becoming ever more dominant. The other thing that you've clearly seen is the communist party which is sort out of the state and sort of apart from the state again becoming more and more dominant with almost every corporation in China having a member of the Communist Party sitting on its board including foreign owned corporations having have a member of the Communist Party on their board. It's becoming increasingly clear to these companies that if you are sitting on one of those boards and you don't vote the same way that the Communist Party member does you will be in trouble. The company will be in trouble. It won't get its permits. It won't get its licenses. It will become more difficult Nicole for that company to do business so again. The Communist Party is exerting way more control than we've ever seen before so there's no question and the other thing that you're seeing is more state money more state subsidies going into steel and aluminum and chemicals. Chemicals in the production of all kinds of products more state subsidies going into the made in China twenty twenty-five industries so China's started up in what everybody in the world thought was going to be a good road and has completely turned around and the problem has been that the W._T._o.. Has Been Slow and not very good at dealing with that well can the W._T._o.. Be Fixed to handle this problem or is it the case that now the Chinese are in the institution because it runs largely by consensus. I understand the Chinese can effectively derail efforts to change reform the W._T._o.. In ways that would prevent the Chinese from doing what they WanNa do and what you ask is the really the question that I'm not sure anyone knows the answer yet and my own sense and is we haven't really tried when I think about it I mean there should have been a lot more challenges to China all along the way as they started to make this you turn on and become so much of a state controlled state run economy The united the States Europe Japan Australia. Everyone should have been bringing lots of cases or big collective places to say to China. Just no you promised when you joined the W._T._o.. That you would become more of a market economy you promised that you would allow foreign enterprises to work without forcing them to transfer their technology. You promise that you would protect intellectual property. You promised a whole series of things and we and other should have been holding China's feet to the fire and we didn't the question is now. Can we get back if you will what we've lost along the way in my mind. The single biggest failing of the W._T._o.. has been its inability to discipline subsidies and this is really a subsidy is when the government provides. It's a lot of the cost of production for good and obviously the concern is it's one thing to ask. American companies compete with Chinese goods. It's a whole nother thing to ask an American company to compete with the government of China with unlimited resources with companies that will never go bankrupt. No matter how badly run they are where these cases were companies may get direct payments from the government. Yes there was subsidies them like below market cost Jones yeah so a subsidy is generally considered a financial contribution by the government so the the financial initial contributions in China are heavily straight up grants where the government is gives you money or often. The government will direct a bank to loan you money but loan you money at an interest rate that super low so you get really concessional financing or you're again. If you'RE A for example state-owned Steel Company the government may direct you you sell your hot rolled steel at a really low price to this pipe and tube company over here.
"world trade organization" Discussed on The President's Inbox
"Within this week to discuss the W._T._o.. Is Jennifer Hillman. Jennifer is a senior fellow for Trade International Political Economy here at Zia far. She knows a thing or two about the W._T._o.. Having served as one of the seven members of the W._T._O.'s Appellate Body and that's just one of the many post Jennifer's held in her distinguished career working on trade issues. She has been in commissioner at the U._S.. International Trade Commission General Counsel for the United States Trade Representative Ambassador and chief textiles negotiator at U. S. T. R. in Legislative Director for U._S.. Senator Terry Sanford of North North Carolina. She's also professor of Trade Law issues at Georgetown University Jennifer. Thank you for joining me. I'm delighted to be here and delighted to be joining the Council on Foreign Relations family. Well it is great to have you here and let's talk about something. You know a lot about the W._T._o.. U._T._M. World Trade Organization. I think a lot of people listen news read newspapers here the W._T._o.. Mention its name gets invoked fumbling a bit. A lot of people don't really know what the W._T._o.. Is in what is responsible support for some he gives a short primer on wanted to come about in. What does it seek to do so the W._T._o.? Came about in nineteen ninety five and it grew out of an older organization that was established in nineteen forty seven called the General Agreement on Tariffs and trade or the GATT it again. There was a perception that the GATT wasn't strong enough didn't have rules covering lots of things that really ought to be covered and needed to be more of a real organization so there was a transformation from these old GATT into the W._T._o.. In nineteen ninety five what was significant about that change other than we went from one acronym the GATT to another acronym W._T._o.. Whole lot of things were really important that changed? I is the number of members. The GATT was pretty small the W._T._o.. Now has one hundred sixty four countries as members almost every country that has any significant trade is now a member of the W._T._o.. Secondly the GATT used to cover largely just tariffs on goods that was really where it started and that was really where it ended if you will the W._T._o.. Now covers trade eight for example in services a huge part of all right there. Okay I would is a tariff on second would service compared to a good so a tariff is effectively attacks that is applied at the border whenever a good is imported so whatever that good may be it gets a tariff classification so you know what it's formerly called in. Everybody's tariff schedules and everybody's tariff schedules will say every time a bottle of water a cup of something. A ton of steel is imported reported the tariff on it the tax that's placed on it when it crosses the border is five percent ten percent one percent so that's what a tariff is and tariffs apply only to goods and goods are considered physical tangible items they automobiles autoparts law and importantly it is includes parts. I mean so that's really important because an awful lot of what we import in the United States are parts everybody in America. That's making something very commonly will be importing the parts recall recall intermediate goods correct correct and you see this very clearly recently. The trump administration has put tariffs for example on goods coming in from China. More than half of those tariffs are falling on those intermediate goods those input things that are going going into the final products that are being made so that's good if we step over then to services this is again. This was a huge new area for the W._T._o.. To cover and obviously what is service is in essence the opposite of good it is typically not tangible..
"world trade organization" Discussed on Monocle 24: The Globalist
"We know the part of that is this trade war only this week. I m s director Christine Lagarde talked about the self inflicted wound of protected trade conflict and utterly bizarrely. You know, you've got, you know, Trump also putting huge pressure this week on the new chairman of the federal as the US central Bank. Mr. how because you know, the the fed last year raised interest rates, and he says damaging the Konami Trump fails to realize his trade war is. Doing more damage anyway, look until we have I think the vice premier Louis in Washington today until we have the next stage of talks agreed own even potentially the big the big signing ceremony. Then really, I think this puppy. The Mark is white to be skeptical faces you said we've been here before. And I mean, Donald Trump Vesey prone to super live token obeys the deal potentially being monumental. I mean, my expectation was that it wouldn't actually change much from what had been the status quo before the trade war began, and they started throwing tariffs at each other. It's the patient isn't it and the ultimate the arbiter of world trade the World Trade Organization, which Donald Trump. Hey, and refused to allow any new judges to be pointed to the WTO the WTO is kind of DP dysfunction because it hasn't gone up judges to actually roll on global cases on trade. So I mean to be honest. The whole thing's the changes required internally within China would be meant the likelihood that Trump actually manages to achieve. I would say very school. But he's going to you know, he he's going to just let the NAFTA all over again. It'll he'll make some noise that'd be a massive signing ceremony. But if you look in the detail changes, okay, let's talk a sweat Bank. What's been happening there? Wow. This as Potemkin of banks Weeden Bank has resigned today with the media fact, so we have got fig-leaf to cover his dignity the chief executive went to week ago. Sweat Bank is another European Bank. Cool top in this eastern European money laundering scandal. It started with dansko Bank. It's moved onto sweat Bank. One one where it's going to end. I mean, this is a massive Ford. And like can't quite get my head around the numbers, actually, the dunce. Go biking Duns revealed lost. Its historian branch was used to two hundred billion pounds two hundred billion pounds with of suspicious payments between two thousand seventeen thousand fifteen I mean, that's that's just a couple of billion. You can hide in your slow near sheet. That's an awful lot of money. I mean, the problem really is eastern European banks that close to Russia. They're well positioned to launder money when you know, these great states came into. The EU was how exciting, you know, western banks bought control of them. Because all these these countries growing foster that playing catch up with the rest of the EU your water great. What a great thing to do in retrospect, probably not currently, we've got sweat binding by the US Swedish understanding or thirty and a criminal investigation Sweden. It's dense combined. It's wet Bank..
"world trade organization" Discussed on Bloomberg Radio New York
"The world. Trade organization is about to consider a US request to investigate possible violations related to China's intellectual property policies. The WTO's disputed settlement believe will be taking a look at that in Geneva today. That's after the US the WTO to investigate Philippine President Rodrigo de tortillas replacing all officials at the country's bureau of customs with military officials. This comes alter legal drugs with billions slipped through the agency. The president has led an anti-drug war. That's killed thousands of people since he took office in two thousand and sixteen and part of serious. National museum has reopened to the public six years after the civil war forced it to close. The museum in Damascus shut down in two thousand twelve to protect its ancient artifacts from damage. Most of the collection was then evacuated and kept at secret locations. Global news twenty four hours a day on air at tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries signed the guarantee this is Bloomberg Marcus packs very much. Indeed Leon now Germany's governing CD you party and its coalition partner. SPD have fallen to their west results in decades in a vote in the state of Hesse over the weekend. The ballot is another blow to Charles the Angela Merkel who has been plagued by instability during her fourth Tom for more. Let's go live now to Berlin. Where Bloomberg Edison editor Tony church is standing by for us. Tony grant to have you on. Let's kick it off what this results mean. Then four Angela Merkel. How much of a blow is it? Well, it's you have to. Take it as it comes. I think that's how miracle will look at it. The latest results show that the regional government there in Hesse, which by the way, including Frankfurt. The financial capital of Germany shows that the her her party the Christian Democratic Union, and the green party will probably be able to hang on to their local authority in the state legislature. In other words, that is serve the minimum needed for miracle to fend off the worst kind of storm in her party. But does it look good after the CD? You lost about ten percent of its support in the state now and she's going to face more pushback for sure. So how soon are we going to see the consequences from this vote because it seems as much as the results are surprising are shocking in some ways. It's usually much further down the line in Germany that you see any reflection in shifts in power, that's very true and miracle, of course, as we've seen over the thirteen years she's been in power. She's very deliberative. She also doesn't really want to give in to all of her critics just on the basis of some admittedly, fairly poor state election results. So the the choreography now is that her party is heading toward a convention. That's an December. So she has about six weeks to sort of figure out what this means for her and her party also needs to figure out what it wants to do with her. There's been some statements that this is a much bigger issue that barrack herself it's a structural issue of the party. That's one of her leading critic set overnight. But miracle Shirley will have some hard decisions ahead. And there will also be a meeting of her party's leadership this weekend where we might start to get some hints. Yeah. I'm also guessing that the SPD's party will enter into a pay of reflection of sorts. How long does the SPD's want to be part of a coalition as a minor partner? If indeed it doesn't really serve them out the ballot box, and Tony what's the betting on. How long Merkel could actually hold on. Hey, what does it look like at the moment? Well, she keeps saying and she said it again, we'll we'll hear from her today and a couple of hours, but she said again, and again that she she wants to stay head of the party, which is very important in Germany, and especially the CD you that the chancellor also needs to head the party. It's kind of this power center. If she changes course on that that will be big news. But of course, she's elected to serve through twenty twenty one. Or at least that's the the term of the parliament, which gives her power. And she hasn't given any indication that she that she's about to back down, of course, can change, and she may have plans that she will probably sort out with a very close inner circle. But as of right now, that's where we stand and on the SPD. Yes. As we've been saying the in our coverage the city who is one thing. But at least that's miracles party. That's her own party. But the social Democrats who who entered this latest government with our very reluctantly really are an uncertainty factor because they've done so poorly now for so long that after this election, again, you're going to see that they'll be big groundswell of rank and file members who say, well, this government isn't doing anything for us. In fact, it's hurting for us. We want out. All right. We'll leave it there. Thank you very much for that update. Germany, right. Yes. Tony churchgoer. Joining us out of Berlin straight ahead on Bloomberg daybreak Europe will be speaking.
"world trade organization" Discussed on Freakonomics
"Slash freakonomics. Roberto Vado director, general of the World Trade Organization was appointed to the post in two thousand thirteen when the trade waters were considerably less choppy than they are today. So you were from Brazil and you studied electrical engineering before becoming a diplomat. I'd like to just very quickly here those three factors, Brazilian engineering and being a career diplomat how they inform your role as director general of the WTO Brazilian. Well, the good thing about being a Brazilian is that it gives me a very diverse perspective. Brazil has is a big economy. It's a big country with several ethnicities, very diverse cultural background, and it has aspect of a developed nation, very sophisticated industry, but also has important aspects of of developing countries, social. Challenges, and that gives me this different perspective engineer. I was always good with numbers, and I think it was natural for me to become an engineer. It was until I met my wife and she decided to get into the diplomatic career. And at that point in time I had to decide, you know, what would I do an engineer merit to a diplomat was going to be pretty challenging, especially when she was posted abroad. So I thought, you know what? Let's let's work for the family. So I took the the exams and I passed the exams and I joined the diplomatic career. I think that was a love star in its own rights. Can you give me a quick example of an engineering lake solution to trade or economic problem? So when I'm in a meeting or something like that, tried to understand the basic motivations in and then figure out a way. To make those motivations were together. And that's something I think that engineers do try to get very complex situations and problems try to reduce them to their mental constitutive part and figure out a way to make them work. Personal chemistry is very important as well. Even between the gauche eaters. I know some people think that everything you need to know your learning kindergarten. And I think that's that's quite accurate. But I, I found out that you're forever learning how to re relate to people how to take into account it, diverse personalities, cultures, objectives. So as long as the world still has independent nations and it seems that'll be the case released another few decades. We're not becoming one big global nation. It strikes me that there's an inherent friction around trade. In which every country has to strike a balance between protectionism and globalism. So I'm curious whether you agree or disagree with this notion and however you answer what's to be done about that. This stink tion that exists even today with regard to trade, it always existed countries that do trade and that have a cooperative relationship with other partners. They essentially gained from that. But it is also a reality that when you trade some sectors in the domestic economy will lose many gain. Many are better off with the with the trading relationship, but that some lose in the sense that they're not competitive enough. Sometimes the factories close in particular sector and you cannot ignore that. I think what you see today is something different. From this very traditional, very historic tension. Today, we are seeing a transformation of the economic structure of the global economy with producing things differently. We're producing things faster. We don't require as much human input as we did before, and this is increasing. Now. Clearly even for governments in football of Titians. It is easier to blame, you know, the foreign for these problems which are happening inside their own economies. It's easier to blame the imports for the loss of jobs when they are. They have a role of course, but they're minor in this structural change. And I think if we don't realize that and if we don't try to find a solution for this will be hurting much more than help it. Okay. So you've just described? I would argue beautifully and succinctly a big problem. That of course, a lot of economists and some others have described, but you're right, that's not the political rhetoric. So it's easy to think of what's the wrong medicine. How involved is the WTO in trying to discover and administer the right medicine? I think the WTO is already at least trying to help governments and public opinion to understand the situation and reach the right diagnosis. If we get the wrong diagnoses, you get definitely the wrong medicine. The important thing to understand is that whatever medicine we choose, it's not going to work overnight. There is no quick fix for this..
"world trade organization" Discussed on Bloomberg Radio New York
"The NASDAQ up forty eight. I'm Ann Cates. I Bryan Curtis in Hong Kong. Let's get you. This hour's top business stories and the markets. China will ask the World Trade Organization for permission to retaliate against the United States for failing to comply with anti-dumping rules in two thousand seventeen the WTO ruled certain US actions broke the rules in Beijing wants sanctions against the US totaling seven billion dollars. Canada is seeking to reform the World Trade Organization, it is looking for an alliance of like-minded countries to restore confidence in the multilateral trading system and auto also says the NAFTA talks with the United States have been productive. US carmakers are losing share in China. Bloomberg's Rishaad Salamat has more it small competitiveness rather than the trade or the market share of US brands falling to ten point seven percent of the first eight months of this year that sound from twelve point two percent a year ago. The China says Asian of automobile manufacturers drop was caused by companies not refreshing their lineups. In a timely manner. Spokesman said it's not the trade or he says there's no anti-american sentiment all the boycotting of US brands, but the Chinese economy is car retail sales have dropped for three straight months. China's anti-sports opened up nearly four percent, but he's now flat and to Chinese buyout firm fountain. Vest partners have made a five point five billion dollar offer for Amer Sports have Finland Amer is one of the world's largest athletic gear makers. It makes the Wilson tennis racquets used by Serena Williams as well as the atomic and Solomon ski equipment. All right. Let's get a check at the Asian markets this morning and Hang Seng index down two thirds of one percent, another one hundred and seventy eight points, lower taking anchoring index further into bear market territory. The Shanghai composite is down about a half of one percent. And the Nikkei is also down a half of one percent. Global news twenty four hours a day live at a tick tock on Twitter, powered by twenty seven hundred journalists and analysts in one hundred twenty countries around the world in. Kong. I'm Bryan Curtis..
"world trade organization" Discussed on KMOX News Radio 1120
"The latest business john yeah happy friday futures right now pointing to a higher open odd wall street just few minutes the equity futures they did pare some earlier gains that are reported that president trump wants to withdraw from the world trade organization we also figures out this morning show as you showing us consumer spending rising less than forecast it may americans as it turns out saved more of their incomes also inflation top the federal reserve's goal by more than expected and bitcoins meteoric rise last year had a lot of jurors calling at one of the biggest speculative mania is in history they'll probably right now it's down seventy percent from its december hi address lining for a fourth straight day this morning right now it's down over three percent a related story hackers are actually focusing on a new type of heist putting malicious software on people's handsets tv's at smart fridges that makes the mind for digital money victims may notice only a slight drop in processing power nike's home market getting it's mojo back sneaker giants north american sales rose for the first time in four quarters sp futures ahead of the open up ten the dow futures up one hundred twelve right now and the nasdaq futures are twenty six points higher with your money report i'm john tucker bloomberg business on newsradio eleven twenty k m o x kmox news time is eight twenty let's get you to work things are calming down any out there captain roger brand has more from the steeple traffic center things are starting to cool down a bit megan that's good news traffic.
"world trade organization" Discussed on KQED Radio
"World trade organization in normal economic times the agreed upon arbiter of international trade disputes now though far less so because president trump has blocked nominations for judges to the wto agency that has final say on those trade disputes marketplace's aaron schrank explains what is going on and why it matters the wto was established back in one thousand nine hundred ninety five to make countries pay up for breaking trade rules jennifer hillman is a georgetown law professor and former wto judge the president prefers to think about all trade issues in a bilateral context and that's not possible in the wto where there's one hundred sixty four members the us led the charge to establish this body now president trump is complaining the wto is unfair to americans james bacchus another former wto judge says jurists there have recently ruled that some of trump's trade policies violate the us is obligations under international trade law the united states disagrees with the poet body rulings but no one else does wto judicial appointments require consensus and the us is the one member blocking them she ho goto with the woodrow wilson center there's a lot of anxiety and instability and that is really going to hurt us businesses there are only four judges left on the panel and one up for reappointment soon once he drops below three the wto doesn't have a quorum and loses authority to settle trade disputes then says linda limb with university of michigan i don't wanna say all hell breaks but it's very uncertain because if you have rules that cannot be enforced that quite meaningless sixty six wto members are backing a petition calling for the us to drop its appointments veto i'm aaron schrank for marketplace.
"world trade organization" Discussed on KTAR 92.3FM
"Produced a really radical idea by chinese standards and the thought was from the western side get china in the world trade organization and you'd see china become more like hong kong more of a western westernized capitalist economy and and you're right that that progress did not continue and they've moved with kind of reverted back to their own ways my take is that something that's that can be harmful to the rest of the world but it's also horrible for china i mean for goodness sake they look at what hong kong has done and may have the perfect model to follow and the fact that they're they're not doing this command and control economy is highly relied on state owned enterprises that might work for a short time but inevitably you look at venezuela and you look at countries around the world that have tried to go this route it's not a matter if it stops working but when it stops working and that's kind of what i'm interested to see they they can't continue to to promote prosperity to a centralized command and control communist economy it's never worked and there's no reason to think it's gonna work this time around though that's an interesting thought here is look at just exactly what has come out of the great communist model is in the world certainly safe to say that you went into say though the nineteen eighties and you had reincarnated karl marx and dropped him right in the middle of red square in moscow in the middle of of beijing he would not recognize his theories in either low cow having said that of course communism as it was practiced disappeared in russia replaced by what i would call a gangster capitalism in china it's really kind of bizarre and to a lesser extent i suppose in places like vietnam and cuba for example in that they they have liberalized their economies some water as i've noted before on this program you could power beijing off of mao tse tung spinning in his grave over the millionaires driving around shanghai on their mother is but still the the communist party retains power while allowed some experimentation and free markets they certainly have been unwilling to go the whole road and actually let this work but you know that's that's largely a consideration of what's happening in china it's when they break deals with this country that that i'm most concerned.
"world trade organization" Discussed on Monocle 24: The Monocle Daily
"And you mentioned the world trade organization that still in one piece the european traders as is not really in one piece i mean i mean trump just bypassed the world trade organization flouted its rules very brazenly in in announcing these gonna slap sixty billion dollars worth of tariffs on chinese goods without any kind of judah cation and we're waiting to find out what the consequences of that are now if the consequences are that china comes to the table and suddenly there's a real conversation about how we dress him serious problems that china poses the global economy i mean they are subsidizing state industries they're they're continuing to play an outsized role and figuring out who the winners and losers are on the chinese economy and and and they are stealing intellectual property from from foreign investors there are some real problems or if this trump potential trade war triggers real dialogue in which china changes well one could then say yes indeed order has held but it's charlie possible that we're we've already seen this sort of high watermark of the world trade organization has a place that can settle disputes before there's there's a real conflict and we might now be on the verge of a bunch of tit for tat retaliatory tariffs that are gonna hurt growth they're going to cost jobs everywhere and they're certainly not gonna make people happier and some might say that regardless to whether trump was is being good or bad what he's doing is he's helping to address a natural imbalance insofar as china has arguably got away with quite a lot of stuff should for very long time.
"world trade organization" Discussed on KOMO
"World trade organization rules right china violate the rules a a lot by skilley intellectual property by subsidising governmental dentistry countries like germany japan and south korea have surpluses with china they do not allowed china to export their overcapacity to them and take out there industry they use undervalued currency the eu's industrial policy the use a culture of nationalistic culture where they just the their their businesses simply don't do that there's a culture wanting to keep jobs there and they get you know subtle sort of punishment if they do other lives at so in other words people are ostracised you're saying if they do that kind of thing yeah they they really are and it's it's really hard to ferret out exactly what happens in japan in the lake but there keiretsu culture which is you know they protect their national in industries like mitsubishi toyota and yet they're all over our case for doing precisely the same thing i take it because what the world w is really happy when we're patsies in which case i don't really care of the world is happy you're not sure they like they like can grow off the bat on the backs of foreign consumers in this case us refunding the rise of china their military aggression with our trade deficit with them and we're actually funding germany with its trade deficit with them and and japan you gotta get that into balance because we're leaking demand in our own industries can't survive do we need a national at pardon me national industrial policy we really do we need to get good it that we need to find a way to do my best your policy that works for america.
"world trade organization" Discussed on State of the Union with Jake Tapper
"Only the president for national security economic security purposes saving and defending our steel and aluminum industries in his present it said we can't have a country without those industries and i believe that one last question for you sir the last time something like this was attempted where there are much more targeted steel tariffs by the bush administration in two thousand two europe and others complained to the world trade organization the world trade organization threatened a two billion dollar fine you know all this i'm just informing on informing the viewers so there's every reason to believe that the wto will object and try to take action against the united states we all the united states considering leaving the world trade organization under president trump what i think the president wants to do in terms of the world trade organization has sent a very strong signal to damn across the board on this issue of trade that we're not gonna take it anymore what we have is a country here in the united states chas the lowest tariffs in the world lowest non tariff barriers in the world and all we get from that is not fair and reciprocal trade from our trading partners well we get from that as a half a trillion dollars a year and trade deficit that put our wealth offshore and our jobs offshore and a lot of the problem has been the world trade organization which is over 160 countries and a lot of them simply don't like us and so we don't get good results there so we wanna we were freetraders let's let's be clear about that everyone in that white house is a free trader but we are fair and reciprocal traders and the world trade organization i think needs to change with the times if they don't change yes or now is the trump administration considering jit their house you know that's a.
"world trade organization" Discussed on KQED Radio
"And countries didn't always follow the rules set by the gatt instead the americans and the europeans realise they needed of better enforcement mechanisms they created the world trade organization or wto the way the wto works is that there's compulsory a dispute settlement which is unusual for international law robert house is a professor of international law at and why you and here's the crucial difference the wto decides disputes through litigation rather than diplomacy that dispute settlement can result in a ruling that the can then be enforced through sanctions through economic penalties that are imposed by the winning country on the losing comfort so it's a very effective system the wto is also a fact of keeping supply chains running most of the products americans use are made in multiple countries a french designer might make a shirt easing egyptian cotton that's woven in india son in mexico and sold in the united states robert house says that the wto makes that possible uh the people who have a stake in both the production and consumption of products how a stake in these supply chains being able to offer aid across international boundaries nature of the world trade organization really does because it stabilizes tariffs for example it stabilizes other restrictions and it helps stabilize diplomatic relations because it settles trade disputes politically it has the ability often to deport a size trade disputes to detach them from bigger political conflicts and that kind of management of political tensions is a positive contribution to international peace and security while the wto tries to avoid politics it has faced political backlash and that's because it has paved the way for globalization the globalization that prioritises business over everything else and so labor unions environmentalists and other activists on the left blamed the wto for lots of problems such as the loss of american manufacturing jobs factory pollution poor working conditions in the developing world there were mass protests during the 1999 meeting in seattle energised were a tiny fraction of befell thousands who marched on seattle in some ways i was a high point activist leftleaning protectionism meanwhile the democratic party was beginning to embrace free trade back in the midnineties while the us was negotiating the wto agreement it was also launching nafta the north american free trade agreement with canada mexico unlike the wto diplomatic considerations were at the heart of nafta we've traditionally not had the.