europe is cheap, it is how you -- it is value. >> we do expect that cyclicality in europe to provide stronger returns over the next six to 12 months. >> but we have seen is certainly the interest in and the flows into european equities have been reasonably strong as of late. >> that catch up trade potential could be quite lard. -- quite large. >> with the improvement in the european economy, competence from investors, consumers and so forth, i think you will see an uptick there. the question is how much of that has already been priced in. >> the challenge for europe is that when growth is firm in europe, that doesn't necessarily always mean that equities will do well. you could still believe in your catch up trade, but it is not necessarily an equity story. alix: i really don't thing i say the word catch up -- the word catch up -- the word ketchup, but ok. joining us now is lucy macdonald , jp morgan managing director. many are saying it is the catch up trade. when does that timing happen? lucy: even though you had quite a nice band, there is still more potential in the medium-term.

of europe in the world. and you are right now we need to do to get the act together. somehow we need to understand what are the challenges that are coming up in the next decade and the next 20 years and 50 years down the road and be able to plan ahead. and of course, the idea is to do this in a kind of a multi lateral away. and in a way that preserves somehow peaceful cooperation between trading partners between associates in this case. okay, when we run out of time, we've run out of time, i guess a major question is, can europe survive the european union to be continued gentlemen? ok, many thanks to my guess in paris and in guilford in an thanks to our viewers for watching us here. at our t. c. next on remember prostate with ah, ah, also for eric room identify 2 types of freedom, freedom froman, freedom to. and while we all idealized the lesser achieving the former, the freedom from use and abuse is no small feat in this day and age. this is especially true for africa, which, for centuries has been exploite

so europe is tied to russia, russia by europe, basically before moscow. that's also not that bad because there's this so bad idea that russia should build bridges, europe as try and push the american. now do something from monday to do and establish time with germany and primarily, but with all the other european countries. that's kind of very close partnership. that's not very working. yeah. but then the commercial part of it. and then of course, the problem of your brain, which right now finds itself in a position where moscow at will if it wishes to continue to supply gas to europe with contract that brigade. sions, but not sending much or at all to ukraine. and that's for sure. let's, let's talk a little bit more about ukraine's options here, michael. but the acute, if ukraine continues to feel that europe in the united states are not looking out for them on this issue, does that risk join them closer to china's or bit as has been suggested by some? yeah, absolutely. i think the feeling in ukraine is i've recently returned from there is that it's been

and europe and the united states, never mind joe biden�*s presidency, europe and the united states are not in lockstep as they used to be. certainly, i'm worried, but i would challenge your assertion that all of europe no longer trusts the united states. germany, france, maybe some other western european countries, that might be the case, but i think the uk and the united states certainly still retain great trust and confidence in each other. and our allies in central and eastern europe still have great confidence in the united states and, frankly, high expectations. but the burden is on us. the burden is on the united states to regain the trust and confidence of our german allies, of our french allies, recognising that throughout the history of the alliance, there has always been friction. i mean, i was a lieutenant in germany when there were hundreds of thousands of german protesters out on the street because of the deployment of pershing ii and the french kicked nato out of france, back in the �*60s. so this is... it's never been a bed of roses, but it has been shared values. and

we are done in europe. europe certainly hit by some of the stocks we've been talking about or affected by some of the stocks we've been talking about over the last few minutes. richemont giving the luxury sector a massive boost. that is help the cac 40 out. these are the final numbers. the ftse 100 being hit pretty hard by astrazeneca. you get a day like today where astra is under significant pressure. down we go. alix: also we are talking about the last day of cop 26 and are lots of questions as to did it work? did anything come of it? currently delegates in scotland are hustling over the temperature, the carbon tax, that is all in the cards. we will talk more about this after the break. dan jorgensen's denmark minister of climate and energy. he joins us next from scotland. this is bloomberg. ♪ ritika: this is the european close. you're looking alive, the prince will room. coming up, liz shuler, vfl cio president -- the afl cio president at 12:30 in new york. this is bloomberg. let's check in on the bloo

and this divisions in europe, dividing lines is also making europe as a continent less than less relevant. now, if nato would go back to its original mission to be a status called power, and it's military interventionism and this expansion is miss it again, the source of stability in europe. however, this is kind of what they're trying to negotiate between moscow in washington. but that's very different from saying that nato dismantles theresa fallon nano is if they don't like, why just if nato were the, the only problem. why did president put in choose to invade the crimea after ukraine find the corporation deal with the european union? was not natal, that was the problem in that case, there was a deal with the european union's well, it's set to launch extend customers for la tactics. it, it can see what's coming down the road. i'm in the nato started with expanding to a couple of countries now it just keeps expanding. and obviously the u. s. s. as a state that it's intention of dragging ukraine into nato, even when only a small minority wanted to be part of nato. and furthermore, didn't

or, you know, outside europe. then i think that we would be looking into a more and more successful global position of europe in the world. and you are right now we need to get the act together. somehow we need to understand what are the challenges that are coming up in the next decade and the next 20 years and 50 years down the road and be able to plan ahead. and of course, the idea is to do this in a kind of a multi lateral way. and in a way that preserves somehow peaceful cooperation between trading partners between associates in this case. okay. i mean, we're brought out of time. we've run out of time, i guess the major question is can europe survive the european union to be continue gentlemen? ok, many thanks them i guess in paris and in guilford. and thanks to our viewers for watching us here at r t c. next time. remember, talk with with kaiser financial survival guide. when customers go buy, you reduce the price. now well, reduce a lower that standard cutting, but what's good for food market? it's not good

of europe in the world. and you are right now we need to do to get the act together. somehow we need to understand what are the challenges that are coming up in the next decade and the next 20 years and 50 years down the road and be able to plan ahead. and of course, the idea is to do this in a kind of a multi lateral way. and in a way that preserves somehow peaceful cooperation between trading partners between associates in this case. okay, when we were brought out of time, we've run out of time, i guess a major question is, can europe survive the european union to be continue, gentlemen? ok, many thanks them i guess in paris and in guilford ink. and thanks to our viewers for watching us here at r t c next time, remember rostock with ah, with oh, is your media a reflection of reality? with in the world transformed? what room you feel safe? ah, isolation, whole community? are you going the right way or are you being led to some with direct? what is true war? his faith in a world corrupted. you need to descen

europe is no longer a i superpower. europe is no longer a superpower— superpower. europe is no longer a superpower because _ superpower. europe is no longer a superpower because it _ superpower. europe is no longer a superpower because it doesn't i superpower. europe is no longer a. superpower because it doesn't have superpower. europe is no longer a i superpower because it doesn't have a defence _ superpower because it doesn't have a defence policy~ — superpower because it doesn't have a defence policy. so— superpower because it doesn't have a defence policy. so definitely- superpower because it doesn't have a defence policy. so definitely the i defence policy. so definitely the ball is _ defence policy. so definitely the ball is in— defence policy. so definitely the ball is in the _ defence policy. so definitely the ball is in the us _ defence policy. so definitely the ball is in the us camp, - defence policy. so definitely the ball is in the us camp, and i- defence policy. so definitely the i ball is in the us camp, and i think the us— ball is in the us

the council of europe has issued as late as verdict, human rights and democracy in europe. and it makes unpleasant reading. europe's democratic environment and institutions. it says are in neutrally reinforcing decline. we talked a lot about democracy and human rights on this program and spend a good time holding politicians to account for actions for the peace when danger those rights. but the situation is not so critical. we decided to question a leading official just trying to protect human rights about why that protection is famous. junior me after which is commissioner for human rights with the council of europe, and she joins me now some stuff, but what is it gone so spectacularly wrong? the dounia may out of edge welcome to conflict zone. thank you. 2 months ago you press the emergency button on human rights in europe. you said 2020 had been a disastrous year for those rights on the continent. one of the bleakest assessments to be hard for a long time. do you think anybody is listening to your warning? well, i hope so. it is something that is affecting, that's all, n

than there is in europe. there has always been the skepticism around what europe can only do on the fiscal side versus what the u.s. can do. covid trends, we were really expecting heading into this year in europe. all of those together create more optimism around the recovery in the u.s. then we have had in europe. the sad thing i would say is that in europe, there is -- investors are stuck and there is no inflation mindset. we have seen this commodity upswing. even in europe, we have not seen nominal rates captured as much in europe as we have in other currencies. guy: christine lagarde was saying we are a long way away from having to worry about inflation in europe. how long do you think it is? is there anything in the forecast horizon that suggests the ecb is going to get anywhere close to 50%? imogen: i think we have a more bullish outlook on inflation through this year. we think inflation could get to 1.5% by the end of this year. over a reasonable forecast horizon, i think we are talking about a reducti

so europe says the pollutants playing politics. it says the same thing that the you is playing politics with north street to. is he not correct there? well, i mean no 3 to and it's better says the not true 110 years ago, they are highly political projects. you are linking to major consumer producer blocks together with a physical pipeline infrastructure. it is political by nature and this politics when it goes well, it's good, it's you, you are making a big producer of the consumer and it improves politics. but of course, when politics get sour, as they are now between russia and europe in the west, or general over ukraine, for instance, which of course, is the gas transit routed traditionally, it was then if things get complicated and that is the issue now. yes, both sides are playing politics. however, the approval process that has been put on hold is a commercial one. and this is important to keep in mind. the approval process with a bonus next are going to, in germany, is that commercial process will stream to and gas from has

what you europe's strategy be -- what should europe's strategy be? min. blumel: it is a double-edged situation. we have to ensure co2 emissions are going down, which is mainly done by emissions, which means increasing prices on energy. on fossil fuels. to a certain extent, states are driving those costs. on the others, we have to ensure people can afford heating in winter. when i take a look over the european development of energy prices, i can see in some countries like spain or france, there is still a highly regulated energy market of price. in austria it is rising, but it is not a big problem at the moment. what we have done is to implement in our co2 pricing scheme and inflation break, meaning if energy prices are rising over a certain percentage , then we will not implement the full increase of pricing for the next year. also if energy prices are falling, we will increase the co2 pricing. to make sure there is some kind of an inflation break on energy prices. alix: thanks a lot. gernot blumel, austria's finance minister, pleasure to speak with you.

europe has a lot to think about. in addition to that, we have issues and tensions in covina, the whole balkans. it's in a difficult situation. europe really has to get very serious about this. to pick up on a previous point, macron will push the nuclear aspect. this is also a problem in the franco german engine. the green party, which is now part of the coalition government, is not keen on nuclear. it's unlikely that they are going to see it as a sustainable resort which macron wants to have it identified as. for this green strategy of the you, it's unclear if nuclear will be considered a green type of fuel. i think that there are problems already. the new coalition germany -- power in germany. we are seeing cracks in the relationship between france and germany. anchor: what would the european defense force look like if -- do you? >> it would probably be somewhat weak. they say that the french are a leader with no one who wants to follow them. i think that's quite a good description. a lot of the eastern european cou

yes. together, europe is necessarily weak, precisely because we use the word europe, but it doesn't really mean anything. and the consequence of this is that the united states can behave in the most bizarre way towards europe, ignoring not, not in telling them by the way where we growing from afghanistan. not even telling them by the way we're making a special on baxter with australia and the united kingdom. so the humiliation pied on the humiliation. and there is no way in which euro can form a hold that and i jump in here, i'm going to hold, i'm gonna jump in here. please hold that thought we're going to go to a hard break. and after that hard break, we'll continue our discussion on european securities names are going ah the lack of universal healthcare makes america the country of every man for himself . we have a retirement crisis in this country and we have a health care crisis for seniors in this country as well. so private business has come up with a special mechanism for that. it's called the live settlement market. we are a life settlement provider, which means that we buy life in

troubled by what we see and hear right so i think either the issue with europe is europe still has this concept of itself you know these nation states in the cities i'm friends i'm german where white french were white german without understanding that the concept of europe historically was more around the mediterranean so you have people on the mediterranean now who are no longer considered european but historically and when it culture were so the issue is where do you start looking right and i think european culture right now has been stuck since the age of conquest and exploration. go on. to say what you're. doing i just want to add more because how much you're pm and i don't i would like to hear from from from one from europe what do you think about this because i from my ranch perspective point of view when i came here to 15 and then i see all of these welcoming narrative and all the narratives that you know i think you have. but i know in the united states. diplomatic super correct when you refer to my friends and yet you see that not much has been. so. ok europe or most people in

and europe. i would suggest that before anything is promoted by the germans, have them ask the biden administration quietly, and i am sure they will do that, to make sure this is something they remotely feel they could lift. tpp failed under obama and biden , not under trump, because the average american does not support free trade right now. the average american does not support u.s. troops all over the world right now. does not support promoting and exporting democracy all over the world right now, because we are not even sure we have democracy in our own country. we people in the biden administration including the president-elect himself oriented to doing this, we have to have a foreign policy that feels connected to american citizens. we have failed at that. it foreign policy establishment in my country has failed at that for decades. people on this call have failed at that for decades. they failed not because they don't care, although many don't care, they have failed because it is freaking

they don't want to be the leaders of europe. they don't want to interfere with other people's business because of the terrible history of the third reich. and i think that germany is bound to be a political bar and it's got to accept the responsibility of its own power, but it's people don't want to and it's politicians see no votes in that kind of policy. so you have reports of the german air force certainly has ten planes or whatever it is these various reports came out about the fact the german armed forces have been allowed to run down until they are practically nil. >> this has been a great >> well, this is been a great discussion. i greatly appreciated you joining us, or festive tunes. are as i say one of the great treasures of the world. i really believe that. the english and the people is spectacular. i hope we can host you hear personally at aei sometime in the future. to all our listeners thank you for joining us and i think we will sign off now. thank you very much. >> thank you very much for asking me. thank you for

, because i think a, a, europe of nation states would likely return in europe to, into war levels of dysfunction and economic misery. well, that's a very strong statement there and how do you feel about that? because that is the charge and we've, you know, and it was all around the briggs that debate here is that the brussels wants too much power. and it is trying to one size fits all. i mean, it was at least the claims that were made by the briggs. it tears ok. now i asked you, did they learn anything from it? because there are, there are, we've all agreed on this program is that euro skepticism is on the rise. what is exactly means is very unclear to me because it seems to me, it is more of a demand for reform and not to got the entire project. go ahead, allen. well, i do understand the letters being signed by the circle populace parties. life view is the goal, you integrate, the less efficient, it becomes gross becomes less, most of its major policies of fail, the years fail, europe stagnate him do this. and so you was introduced the italian, they call them is patent student still

just let us in europe are low. we're venue in these period of the year high of the new winter season and did a lot of concern for the traders because people now expect a potential gas crunch in the winter should be. but, you know, you're also arguing that the way in which the european gas market is structured is, is also a fault weinstat. well, over the last years, the european gas market at become more modern, let's say it moved from a traditional structure of oil indexation in gas contract to a spot market, 80 percent of the european got. so they traded on up is a spot market disease. of course, giving great flexibility to the market is a good thing. but in this particular condition, if for the pressure on the situation, because europe is not the longer the work, asia demanding a lot of n and g, and the economic recovery is also happening in asia. and therefore, europe as to pay more and more for the gas it was to get. and the 2nd suppliers, like russia, for example, talk about their willingness of favoring a mar

of europe in the world. and you are right, we need to do to get the act together. somehow we need to understand what are the challenges that are coming up in the next decade and the next 20 years and 50 years down the road and be able to plan ahead. and of course, the idea is to do this in a kind of a multi lateral away, and in a way that preserves somehow peaceful cooperation between trading partners between associates in this case. okay. i mean, we do have run out of time. we've run out of time, i guess a major question is, can europe survive the european union to be continue gentlemen? okay, many thanks them i guess in paris and in guilford. and thanks to our viewers for watching us here at r t c. next time. remember, pa stuck with ah, join me every thursday on the alex salmon. sure. i'll be speaking together for the world politics sport. business. i'm sure business. i'll see you then. mm. i look forward to talking to you all. that technology should work for people. a robot must obey the orders given by h

they get cold and they get them in europe. ready have been less, but then i mean, there's pipeline supply in no way algeria, russia, they can supply as well. but that's where you have no problem. russia has been slow to finish tional gas the you this year despite the critical shortage of stocks. some analysts believe the limited deliveries are no quinn sentence and accused moscow of exploiting europe's energy weakness. why? inter nordstrom to the 9500000000 euro natural gas pipeline. russia recently completed constructing germany. the russians have spent a fortune under put in developing an entire new natural gas province. what happens in europe then, as part of its climate policy cuts back on natural gas consumption? indeed, many politicians do see climate policy, namely, a faster move towards renewables. as the solution, but building out that infrastructure could take years. so what about right now for now, government seemed to have decided the answer is more fossil fuels. china has doubled down on coal while here in the u.

on china, europe has tied in with u.s. sanctions. europe's economy is so dependent on china it is doubtful it will be as tough as washington wants. on russia, germany has refused to stop the controversial nord stream 2 pipeline. biden sees that as a major mistake that will make europe more dependent on russia. he fears if europe does not step up, it risks feeding the narrative that the transatlantic alliance is not worth it. >> is there anything we can do to make sure that the next president will not be again donald trump or somebody like donald trump who wishes to abandon europe? will it be a good partner, not a useless partner? >> a lot rides on this week. meetings that count both for the outside world and for the voters back home. phil: we will hear what the foreign policy spokesman of chancellor merkel's conservatives thinks. what do you expect to dominate this meeting? >> i would like to say that we appreciate as europeans the president is coming to europe for one whole week. it was the same with donald trump. he was also coming

europe eventual he came up with an. vestment program but small businesses like ricardo's felt this help came too late. i've looked all that you foresee in order for you to hold me i would have really liked to have seen a united europe as everyone had predicted a strong union with fundamental coordination see something sort of thing i mean i would have liked to have seen those with more opportunities to help the others a true europe you know key and obviously mineral ok. but in the end it didn't work out that way in which everyone close the borders and said here's a brick wash your own dirty laundry at home you buy the spark you know about the ruling. that really showed us that we can't talk about a single europe will be on the mend i mean think in the ocean with a lot of the old all. anyone who comes to trist can still experience the charm of the old habsburg monarchy. 100 years ago the port city was a trading hub to eastern europe. the iron curtain interrupted the links for decades . now the city wants to return to its

i mean, europe and i repeat, europe is the largest owner and investor in africa and around the world. so we're just trying to use and you to a new instrument to gather all the resources that are already being invested by europe, european companies, and european governments, and try to bring in and a one umbrella with a common objective. and these objective is to be when, when we don't want these to be only something that serves european industries, interests, or own european companies, we want also to cooperate with local governments and local business of post. you said it was quite interesting when you sat there and said louise santos were aimed at bringing together an existing trade in existing projects. how much if this is going to be new money the, the headline figure of course, is $300000000000.00 euros of investments over the next 6 years or so. but how much of this is actually new? but we have new at facilities now and most of what will be new will be money brought by actually the private sector and some of the financial institutions that will be there in that will be also asso

it's the perfect gateway to europe. over the last few years, the chinese have turned perez into the biggest port in the mediterranean and they're planning to make it the biggest port in europe, pledging $600000000.00 euros of additional investments in the next few years. your music i was born and raised in prayer for you. i love him of amendment. i have felt connected with the sea and since i was small before me, this place will be on now. it's important to us medical meadows, not only for its charm and atmosphere now it deserves to be only men, but because it's a part with open access to the c particle and expose the family. and because it was managed to keep it that way, the status. okay. yeah, the most. yeah. tracy honest darzy, a francis cocky believes that the old port area belongs to the cities residence and has long been campaigning to get them access to it again. she's the left wing, threes of parties, maritime policy spokeswoman. that is skeptical about the chinese commitment. she believes massive investments b

global balance of economic power and reshipped with europe is not. acting to get control of those so as we know germany is one of the countries that impose strict pandemic restrictions the president says the health situation has led to a crisis of trust in government policies frank walter steinmeier on saturday conceded there were mistakes and urged germans to pull together even about i'm going to be given this your expectation for those in government is clear get it together let's all get together deacon patriots let's bring forth what we're made of we are not world champions in dealing with the pandemic but we're not a total failure either we are the republic of germany we doubt a lot but we're capable of a lot and it's capability not doubt that counts now of oil rigs or statements like that that you just heard from the german president signal to you that european leaders are learning from past mistakes at this point. well they do learn from past mistakes but we constantly find ourselves in a new situation because the pun demick doesn't follow a sc

for germany and for europe. well, it's interesting that every member of the upcoming new government announces that we need to radical changes when it comes to climate change. and they are all pushing for renewables that more needs to be done more than what the previous government has done. and given that we've seen the rising gas prices that could potentially be leveraged on the stand, that it's now high time. and we shouldn't discuss the nitty gritty is of how it is turned is when mail next to a building or all the reasons why it didn't meet the targets that have been defined before. so there are certainly a push coming from the current what was described as a perfect storm that we'll see more efforts and more investment in renewables and decreases the cio strategic dependency from russia. pulses. this is a crisis moment. everybody's looking for leverage. oh, it comes to ukrainian the seem to be pretty much excited about the potential. what might happens next, particularly because they are now going to be part

europe is a capital-like model. the medical business in europe, it is absolutely legal in the eu, so we don't have to build these operations. we can build a centralized operation in portugal and spain, which is where we are, to distributed through europe. romaine: once you get the distribution level, you're not worried at all about impediments with regard to member states deciding they want to set their own parameters? you're certain we will have that blanket rule coming out of the eu? >> under the united nations charter, medical is legal and the eu has taken the position you can cross borders with it. there is no impediment today on medical. it can go from germany to italy to spain, to france, and to israel, so there is no impediment in europe. but i don't use, as you have heard recently, switzerland and holland announced adult use pilot programs. the reason they call it pilots is because of the u.s. charter. recreational and adult use cannabis is not yet recreational, but if you can -- if you call it a pilot, you

growth forecast for the global economy going down here in europe. well this is a forecast that is as you said earlier very very lopsided what we're seeing essentially is china and the u.s. driving much stronger economic growth that will have some benefits for the rest of the world for europe for example which is a big trading partner of both the u.s. and china but other economies are going to be recovering much much more slowly particularly here in europe many economies are still struggling very much with the coronavirus pandemic but also poor economies as well so there will be a lot of a lot longer recoveries 1st countries here in europe and particularly in low and middle and lower and lower income areas as well but how much growth is actually driven by europe right now because the loss also. from the hope and success will that. some will find. europe is definitely behind it and it's going to continue doing so in the u.s. have already basically fully recovered from the pandemic in terms of their economy in europe is not expected to do that until th

, then europe gets new opportunities and a new world. europe is love any longer, completely dependent to the united states. so the america united america playing dia, politics to preserve their global leadership role as the only superpower. and they don't care about consumer prices and energy security. in europe, they care on their ah power. and that's the game giant. and so they, they are supporting the warranty ukraine they are attacking. and then she surprised russia. it's one strategy. and what we see is, is a part of that strategy let. so let's, let's talk more about this gas issue and what, what is going to a bit of a gas argument really. so no stream to the, the latest russian gas pipeline going directly from russia under the baltic into germany. it's basically completed now and they've just started putting gas just in the 1st section of his pipeline now. so it's not going to get to europe for a while. but there are numerous rash, russian gas pipelines that feed europe from the north, from the east, from the south as well. does it, you know, after all these years of anti russia

between europe in china, i don't see any real problem. we have in europe. we need to re industrialize the continent and we have to look, let me jump in here. look, let me jump in real quick as we're almost out of time, i want to go to our guest in beijing to react to the taiwan issue because i want to everyone, i want this to be fair and balanced. go ahead. the issue of taiwan over the issue of taiwan is very simple. the u. s. has no intention and no capability of defining the island china actually went in. but they are, you know, as you recall from the general's call to the chinese counterparts during trumps administration, at the end of it, it was the, the chinese were afraid that the u. s. is trying to goad them into doing some sort of military action against taiwan. so the u. s. the claim that, yes, see china is the terrible over. we've always said it. everyone has to rally around us american exceptional lives forever. so i want to be very care or not another on other down the usaa idea re conjuring the world. ok, gentlemen, very robust discussion here.

yes, together, europe is necessarily weak, precisely because we use the word europe, but it doesn't really mean anything. and the consequence of this is that the united states can behave in the most bizarre way towards europe, ignoring not, not in telling them by the way where we growing from afghanistan. not even telling them by the way we're making a special on baxter with australia and the united kingdom. so the humiliation pied on the humiliation. and there is no way in which euro can form a hold that i jump in here. i'm going to hold, i'm gonna jump in here, please hold that, that we're going to go to a hard break. and after that hard break, we'll continue our discussion on european securities name starting ah with imagine picking up a future textbook on the early years of the 21st century. what are the chapters cold, gun violence, school shootings, homelessness? first, it was my job and then it was my family. didn't was my savings. i have nothing. i have nothing and it's not like i don't try. i look for resources, i look for jobs. i look for everything i can to make this pass and i e

as supreme commander he led armies in the liberation of europe. there for the second time in a generation american boys had joined in the cause of freedom. ♪ they went home, their country sought to help them resume a peaceful life. schools opened their doors to millions of veterans. ever since it began, the united states has seen a constant growth of education. a high school diploma is now almost taken for granted. every year 2.5 million students enroll in the universities and professional schools. many of the young men who had fought in north africa and normandy went back to the farms. they went back to working the earth in the quiet rhythm of the seasons. they reaffirmed their spiritual values, different faiths living side by side in mutual respect, in the belief many are the ways to god. ♪ americans have a keen sense of fraternity. should a neighbor's livelihood be jeopardized, they are quick to lend their labor and their time to help rebuild. this tradition stems from the days of the pioneers. it's this same trait that moved the american p

incent europe not to intervene and do any kind of where ups that could happen in eastern europe. cornelia, you have winter and you have energy crisis. how are we to blame? is it the post pandemic recovery? is it russia or is it weather related events, particularly last winter? it is the perfect storm you had last winter. you had such a cold winter that star was on plenty shed and i have some sympathy for gas brom again for 1st filling their own storage because they had a cold winter to. so dare storage shoe. it was, was deplete that to, for 1st you know, you 1st look after your own people and then then you go further. so, so that's one thing. then we have obviously the competition as was mentioned between them, asia and europe. for l n g, we're big because china is importing more and more l n g. this year china will become the largest import, the globally of l. n. she, it will, it will supercede japan in that position. and so, so we have, and obviously we have some geopolitical tensions. but, but, but mainly it's the perfect storm of supply and demand. and when it comes to price, yes, obv

europe has a lot to think about. in addition to that, we have issues and tensions in covina, the whole balkans. it's in a difficult situation. europe really has to get very serious about this. to pick up on a previous point, macron will push the nuclear aspect. this is also a problem in the franco german engine. the green party, which is now part of the coalition government, is not keen on nuclear. it's unlikely that they are going to see it as a sustainable resort which macron wants to have it identified as. for this green strategy of the you, it's unclear if nuclear will be considered a green type of fuel. i think that there are problems already. the new coalition germany -- power in germany. we are seeing cracks in the relationship between france and germany. anchor: what would the european defense force look like if -- do you? >> it would probably be somewhat weak. they say that the french are a leader with no one who wants to follow them. i think that's quite a good description. a lot of the eastern european cou

all in europe the chinese. judge in the city is assigned ologist and author who lived in china for 6 years and observed the events around the new silk road development with a critical eye. she thinks the italian government was trying to create an economic advantage for itself but underestimated the plant's political dimensions. but a lot of thought the ricotta he acknowledged mines of this political project by a member of the g 7 had a great propaganda value also in china itself i think a propagandist the kind that an offer of this the new silk road is quite clearly and economic project and like all projects in history in china and the usa it's not in that of charity they are pursuing that own interests and. it's obvious that china is trying to gain a global foothold through key infrastructure investments such as for. trade yes to the north east of italy could also become an important logistical center for the chinese. francesco party z. is a businessman who's currently planning to bring a new investor on board

europe is respected. it is triggering tensions over this, especially if we see flagging affects -- of exports. annmarie: thank you so much. maria tadeo in brussels. they may say it's actually not a race, we know that those who are coming in with the vaccines are able to get their economies back up and running. there's a guest in asia talking about the fact that in the developing world, it could take three years to reset herd immunity. six minutes after 6:00 in the city of london. quick check on where we trade this morning. asian equities, a mixed trade. the msci asia pacific and the read most of the session, turning around now. still green on your screen. s&p 500 futures are lower. the stand out in the future market is the nasdaq. the only ones that are up this morning. the dollar flagging. a little bit of dollar strength. we will talk about this changing trend for the dollar. is it time to sell at the richer levels? the dollar and focus today as it is fed day. manus: absolutely. microsoft boosting that t

europe stands at a crossroads will remain dependent on washington as a junior partner or will europe opt to play the role of a great power on the world stage. i cross talking e u china relations. i'm joined by my guess. i nor tango in beijing is a political and economic affairs commentator in prague. we have brad blankenship. he is a columnist at c g t n, as well as an rti contributor and an elecom that we crossed to look reggae. he is an independent journalist or a gentleman, cross hoc rules and effect, that means he can jump in any time you want. now he's appreciate, look, let me go to you 1st here. i mean, it, you know, on the face of it, you know, the, europe's relationship or more rather e u relationship with china is very convoluted because major training, a trading partners, a major investment deal. i'm kind of stuck. but, you know, there's been, there's an understanding about investment and, and then we have, you know, nato, i'm saying, you know, you know, china is no different than russia. it's the same threatening landscape. i mean, it's very convoluted. i mean, is there an

let's switch gears to europe. gas prices retreated, remaining close to record high seen on tuesday as russia keeps shipment in europe tapped. they are expected to end the heating segment at low level, extending this year's energy crunch. still with us is slivia merler. sylvia, how much of a threat is this energy crisis to the european economy? >> i think it is a very significant threat. the position is very encouraging going into 2022. as we are at the moment for this time of year, the lowest level seen in five years. increased demand in the first part of the year. the situation with russia contributing to this, as well. the bottom line is if we are getting into winter that might be colder than usual, it might wind up less. you might end up scraping the bottom of the barrel. dani: what do spillover effects look like, especially in the energy intensive industry? not just them, but consumers, as well? >> we are looking at very high prices. if that's an area to materialize, it would be very low, even negative. we wou

it is hard to see how europe can recover as long as trade with eastern europe at the present remains at low levels. i had my ideas pretty well sorted out by the time i went to visit our airmen at the base. europe as recovered. that is not enough. a europe with greater population and more social justice must have a far higher production level. above all, it must have greater integration. our men knew this. you can go ahead and ask questions. >> mrs. roosevelt, did you see a definite improvement in these countries you visited, receiving marshall aid? >> i have taken the trouble to see people everywhere and to actually ask. nations have done different things in different countries, but i think they have done a really outstanding job. i am not sure that everywhere they would be ready to stand on their own feet. [applause] ♪ i have been on a very short trip but i have been to quite a number of countries, and one impression is outstandingly clear, the interdependence of these nations. i personally believe we must continue our aid for them but we must work closer together. a keyword is in

the invitation of american power into europe. if it is an empire, it is one that is cooperative and collaborative between western states and the united states. it is true, obviously the u.s. settles on a policy that is a sharp departure from the cooperative approach that roosevelt had hoped for. it is true, i think, the u.s. bears responsibility for worsening cold war relations. worsening tensions. and, for making a peaceful resolution of u.s., soviet differences probably if unlikely impossible. but, they did it in collaboration and cooperation with thousands of allies on the european continent, and millions of europeans thought that this was a forward-looking, reasonable solution that they could support, and indeed that they could welcome. these are policy choices that are undertaken with cooperation. europeans are very well aware of what is going on in eastern europe at the same time. they understand there is an alternative form of imperial control that is not just a theoretical idea out there, but a real possibility that he co

china's gateway to europe. starts feb 19th on double. play. play. this is news live from the lead astra zeneca defends its corona virus vaccine saying it is effective for senior citizens that's after german public health officials said they could not recommend the shot for people over the age of $65.00 due to insufficient data regulators are set to decide on friday whether to approve the vaccine for use in europe.

flexing its muscles from the middle eastern europe from cyberspace. from afghanistan to the persian gulf the us remains deeply in tangled in conflicts it doesn't know how to result. in europe it faces allies so disillusioned that they're hedging their bets on america pushing the future of the western alliance into question. but in the contest for global power and influence one challenge overshadows all of us in china a new superpower has risen. one with the military might to challenge the west. and an economy. that's the envy used to well . as washington takes it on the brink in general trying to turn into one china with his clique. or the phrase how in i.p.c.s. found. america so diminished that china can take stock that is faction in the states of its democracy think for a moment just how far the tables of me turned just 30 years ago george bush sr hailed in america triumphant it did wonder the cold war it was in charge no substitute for american leadership in the face of terror and no one doubts american credibility and reliability no one without po