1
00:00:01,280 --> 00:00:04,000
Speaker 1: World leaders in New York for the seventy eighth session

2
00:00:04,000 --> 00:00:05,199
Speaker 1: of the UN General Assembly.

3
00:00:05,240 --> 00:00:08,119
Speaker 2: Five Americans wrongfully entertained and Iran are expected to be

4
00:00:08,160 --> 00:00:10,200
Speaker 2: free this morning as part of a prisoner swap worked

5
00:00:10,200 --> 00:00:11,440
Speaker 2: out by the Biden administration.

6
00:00:11,560 --> 00:00:14,320
Speaker 3: Poland has suggested that it will no longer provide weapons

7
00:00:14,320 --> 00:00:15,040
Speaker 3: to Ukraine.

8
00:00:15,120 --> 00:00:17,599
Speaker 4: Well, the United Autoworkers Union is sending a warning to

9
00:00:17,680 --> 00:00:20,120
Speaker 4: the Big three Detroit automakers this morning.

10
00:00:20,880 --> 00:00:23,680
Speaker 1: It's been another busy week of news, so it seemed

11
00:00:23,720 --> 00:00:25,720
Speaker 1: like a good time once again to try to take

12
00:00:25,760 --> 00:00:28,720
Speaker 1: stock if some of the most important things happening around

13
00:00:28,760 --> 00:00:31,960
Speaker 1: the world. Leaders are meeting at the United Nations in

14
00:00:32,040 --> 00:00:32,880
Speaker 1: New York City.

15
00:00:33,840 --> 00:00:38,559
Speaker 5: The atmosphere in New York and the global sense that

16
00:00:38,600 --> 00:00:41,960
Speaker 5: this climate crisis is becoming very, very real will really

17
00:00:41,960 --> 00:00:42,800
Speaker 5: give them a tailwind.

18
00:00:43,520 --> 00:00:45,720
Speaker 6: Iran and the US exchange prisoners.

19
00:00:45,760 --> 00:00:48,880
Speaker 1: While Joe Biden looks to broker a deal between Saudi

20
00:00:48,880 --> 00:00:50,720
Speaker 1: Arabia and Israel.

21
00:00:50,960 --> 00:00:53,680
Speaker 4: It's very unclear exactly how that's going to play out

22
00:00:53,840 --> 00:00:56,800
Speaker 4: and how tenable it might be in the long term,

23
00:00:56,840 --> 00:00:59,160
Speaker 4: because these are, after all countries that do act in

24
00:00:59,200 --> 00:01:01,720
Speaker 4: their own interest in the longer term, and if there's

25
00:01:01,760 --> 00:01:04,040
Speaker 4: a change of administration in the US that could throw

26
00:01:04,120 --> 00:01:05,800
Speaker 4: yet another wrench into the mix.

27
00:01:06,240 --> 00:01:09,839
Speaker 1: And here in Washington, Republicans are threatening to shut down

28
00:01:09,880 --> 00:01:11,200
Speaker 1: the government right now.

29
00:01:11,240 --> 00:01:13,840
Speaker 2: You've got the likes of like Matt Gates, You've got

30
00:01:13,880 --> 00:01:16,840
Speaker 2: some others in the Freedom Caucus. They want to use

31
00:01:16,880 --> 00:01:20,120
Speaker 2: this as a way to extract their demands border walls,

32
00:01:20,200 --> 00:01:21,120
Speaker 2: tieder immigration.

33
00:01:28,040 --> 00:01:32,080
Speaker 1: I'm Wescasova today on the Big Take, Bloomberg's Roslin Mathison,

34
00:01:32,240 --> 00:01:36,160
Speaker 1: Ben Sills, and Mario Parker tell us what we need.

35
00:01:36,000 --> 00:01:42,200
Speaker 6: To know, roswands again.

36
00:01:42,319 --> 00:01:45,560
Speaker 1: Leaders are gathering in New York for the United Nations

37
00:01:45,640 --> 00:01:48,720
Speaker 1: General Assembly, and yet a lot of the leaders of

38
00:01:48,760 --> 00:01:51,440
Speaker 1: the world's biggest nations aren't showing up. And it kind

39
00:01:51,480 --> 00:01:54,400
Speaker 1: of gives you the feeling that maybe the world's leaders

40
00:01:54,440 --> 00:01:56,560
Speaker 1: are just all kind of sick of each other at

41
00:01:56,560 --> 00:01:56,960
Speaker 1: the moment.

42
00:01:57,520 --> 00:01:59,760
Speaker 4: They might actually be a bit of truth to that.

43
00:02:00,360 --> 00:02:03,240
Speaker 4: I mean, it's interesting every time you and General Assembly

44
00:02:03,360 --> 00:02:06,640
Speaker 4: rolls around, there seem to be these existential questions about

45
00:02:06,640 --> 00:02:10,160
Speaker 4: the role of the meeting and its value. And given

46
00:02:10,200 --> 00:02:12,720
Speaker 4: that the soup of all the other summits and gatherings

47
00:02:12,800 --> 00:02:15,480
Speaker 4: that we have, how much it actually matters anymore? And

48
00:02:15,600 --> 00:02:17,679
Speaker 4: certainly is sort of a lot of big leaders and

49
00:02:17,840 --> 00:02:22,120
Speaker 4: not turning up this year the leaders of China, the UK, France, obviously,

50
00:02:22,160 --> 00:02:26,120
Speaker 4: the Russian president Vladimir Putin is a no show. And

51
00:02:26,200 --> 00:02:30,480
Speaker 4: as countries like China really look to sort of other settings,

52
00:02:30,560 --> 00:02:34,320
Speaker 4: other power blocks really to advance their influence and some

53
00:02:34,400 --> 00:02:37,800
Speaker 4: of these Western entities perhaps for by the wayside, but

54
00:02:38,080 --> 00:02:40,440
Speaker 4: it is one of those annual debates, really what is

55
00:02:40,480 --> 00:02:43,640
Speaker 4: the value in the role of the Unngaight, certainly, you

56
00:02:43,680 --> 00:02:46,880
Speaker 4: still are getting a lot of interesting leaders in town.

57
00:02:46,960 --> 00:02:50,320
Speaker 4: You're getting discussion around a bunch of big topics, including

58
00:02:50,400 --> 00:02:54,000
Speaker 4: of course developing economies, debt relief, how to support those

59
00:02:54,040 --> 00:02:59,079
Speaker 4: economies globally. The Ukrainian President Vladimir Zelinsky is in town

60
00:02:59,280 --> 00:03:02,960
Speaker 4: again adjuti for more weapons, and of course the Turkish

61
00:03:02,960 --> 00:03:06,799
Speaker 4: president recepy Erduwan is there as well, So there are

62
00:03:06,800 --> 00:03:09,560
Speaker 4: some powerbrokers in town. It's really the meetings that they

63
00:03:09,560 --> 00:03:12,840
Speaker 4: probably have on the sidelines with each other, away from

64
00:03:12,919 --> 00:03:15,520
Speaker 4: the broad setting of the Assembly, that are the ones

65
00:03:15,560 --> 00:03:17,280
Speaker 4: to watch for the news that might matter.

66
00:03:18,960 --> 00:03:21,960
Speaker 6: And Mario, you're in New York covering this meeting. What

67
00:03:22,000 --> 00:03:22,880
Speaker 6: are you seeing.

68
00:03:22,600 --> 00:03:27,840
Speaker 2: There besides the traffic jams, we're saying across the city.

69
00:03:28,360 --> 00:03:32,320
Speaker 2: I mean, we're saying President Biden again on the world stage,

70
00:03:32,960 --> 00:03:36,480
Speaker 2: kind of blur the lines between the diplomacy and the

71
00:03:36,640 --> 00:03:40,280
Speaker 2: US assuming its leadership role in the world, but also

72
00:03:40,680 --> 00:03:44,080
Speaker 2: him making that as a case for why Americans should

73
00:03:44,400 --> 00:03:47,920
Speaker 2: reelect him. The fact that he's drawing lines kind of

74
00:03:47,920 --> 00:03:51,720
Speaker 2: similar to Roz's point about Zelensky being here. He's drawing

75
00:03:51,760 --> 00:03:55,920
Speaker 2: a direct line between holding the line and willing support

76
00:03:56,080 --> 00:04:00,000
Speaker 2: for Ukraine with a democracy here at home in the US.

77
00:04:00,120 --> 00:04:04,800
Speaker 1: Will then at the G seven, at the G twenty meetings.

78
00:04:04,880 --> 00:04:08,320
Speaker 1: Every time leaders get together, Ukraine seems to be at

79
00:04:08,320 --> 00:04:10,200
Speaker 1: the top or near the tap of the agenda.

80
00:04:10,520 --> 00:04:13,120
Speaker 6: What is the discussion around Ukraine right now?

81
00:04:13,720 --> 00:04:15,480
Speaker 5: Well, you know, as you said that some of the

82
00:04:15,560 --> 00:04:17,919
Speaker 5: leaders who haven't turned up are getting pretty sick of

83
00:04:17,960 --> 00:04:19,800
Speaker 5: each other. But I think some of the leaders who

84
00:04:19,800 --> 00:04:21,640
Speaker 5: have are also getting a bit sick of each other.

85
00:04:21,839 --> 00:04:25,240
Speaker 5: And amongst those, I think Zlenski is probably top of

86
00:04:25,279 --> 00:04:30,040
Speaker 5: the list. He got pretty fractious at the NATO summit

87
00:04:30,160 --> 00:04:33,320
Speaker 5: in Vilnius back in July. He was agitating for more

88
00:04:33,360 --> 00:04:36,800
Speaker 5: weapons and he felt his allies weren't moving quickly enough.

89
00:04:37,360 --> 00:04:39,919
Speaker 5: He came into the UN on the back of a

90
00:04:40,000 --> 00:04:44,760
Speaker 5: brewing row with the Polish president over grain exports.

91
00:04:44,560 --> 00:04:48,160
Speaker 2: Poland, Slovakia and Hungary say they're banning the import and

92
00:04:48,240 --> 00:04:52,680
Speaker 2: transit of grain from Ukraine to protect their own agricultural sectors.

93
00:04:53,080 --> 00:04:56,800
Speaker 5: Now, Poland has been one of the most vehement allies

94
00:04:56,920 --> 00:05:00,000
Speaker 5: of Ukraine and the Zelenski since the start of the war.

95
00:05:00,600 --> 00:05:04,720
Speaker 5: The Polish President Andre Duda has been a close personal

96
00:05:04,880 --> 00:05:09,080
Speaker 5: support and ally and advocate for Zelensky, and this route

97
00:05:09,160 --> 00:05:11,760
Speaker 5: has just blown up in a really kind of shocking

98
00:05:11,800 --> 00:05:15,680
Speaker 5: and probably quite worrying fashion if you're a Ukrainian. Duda

99
00:05:16,160 --> 00:05:19,400
Speaker 5: was really quite explicit in an interview we did with

100
00:05:19,520 --> 00:05:23,520
Speaker 5: him how frustrated he is with Zelensky over grain exports.

101
00:05:23,800 --> 00:05:26,839
Speaker 5: Duda's party Law and Justice, of course, faces an election

102
00:05:26,960 --> 00:05:30,680
Speaker 5: themselves middle of next month, and they are starting to

103
00:05:31,000 --> 00:05:35,360
Speaker 5: just privilege some of their domestic political priorities ahead of

104
00:05:35,520 --> 00:05:37,919
Speaker 5: aid for the Ukrainians, and Zelensky's not used to that.

105
00:05:38,000 --> 00:05:39,159
Speaker 5: He doesn't like it.

106
00:05:39,160 --> 00:05:42,159
Speaker 4: It seems that we're entering a really potentially dangerous point

107
00:05:42,360 --> 00:05:46,080
Speaker 4: in the conflict in Russia's invasion of Ukraine. As it

108
00:05:46,160 --> 00:05:49,640
Speaker 4: drags on, we've seen US officials saying warning now publicly

109
00:05:50,080 --> 00:05:52,159
Speaker 4: this could go on for years. We have to be

110
00:05:52,200 --> 00:05:54,400
Speaker 4: in here for the long haul, but also that it

111
00:05:54,440 --> 00:05:57,920
Speaker 4: may change some of the calculations for Ukraine. And we're

112
00:05:57,920 --> 00:06:02,280
Speaker 4: seeing that slight sense of FITI coming in at some points,

113
00:06:02,360 --> 00:06:05,880
Speaker 4: even a bit of exasperation with Ukrainian president we sort

114
00:06:05,920 --> 00:06:09,359
Speaker 4: of at the NATO meeting, and that feeling that perhaps

115
00:06:09,400 --> 00:06:12,800
Speaker 4: the war is just grinding at this point and we're

116
00:06:12,800 --> 00:06:16,640
Speaker 4: heading towards a very very tricky winter on the ground,

117
00:06:17,000 --> 00:06:19,360
Speaker 4: and that perhaps is going to start more of those

118
00:06:19,400 --> 00:06:23,120
Speaker 4: conversations around where do we go from here? Does there

119
00:06:23,160 --> 00:06:26,320
Speaker 4: have to be a proper conversation around a point of

120
00:06:26,400 --> 00:06:30,640
Speaker 4: negotiation with Russia? Is this conflict just going to be

121
00:06:30,680 --> 00:06:33,960
Speaker 4: a matter of time? Russia has time on its side,

122
00:06:34,080 --> 00:06:36,640
Speaker 4: even though it's not making great inroads on the ground,

123
00:06:36,720 --> 00:06:39,719
Speaker 4: and it's certainly struggling itself when it comes to weapons

124
00:06:39,960 --> 00:06:43,400
Speaker 4: and manpower. But does it just sort of get some

125
00:06:43,440 --> 00:06:46,760
Speaker 4: sort of benefit from the reality of time. And so

126
00:06:46,839 --> 00:06:50,400
Speaker 4: we are seeing that question of exasperation, not just the

127
00:06:50,440 --> 00:06:53,600
Speaker 4: grain aspect that Ben was talking about with Eastern Europe,

128
00:06:53,600 --> 00:06:57,560
Speaker 4: but over the amount of aid, financial aid, weapons that

129
00:06:57,600 --> 00:07:00,920
Speaker 4: have been going in Republicans questioning that in the US,

130
00:07:01,560 --> 00:07:04,880
Speaker 4: and that seems to be building towards something. Exactly what

131
00:07:04,960 --> 00:07:07,679
Speaker 4: it is is not quite clear, but it does feel

132
00:07:07,680 --> 00:07:10,080
Speaker 4: as though the conversation around Ukraine is starting to.

133
00:07:10,040 --> 00:07:14,720
Speaker 1: Shift, Maria, beyond Ukraine. There are so many other issues

134
00:07:14,720 --> 00:07:17,320
Speaker 1: on the table. Can you give us a broader review

135
00:07:17,600 --> 00:07:20,000
Speaker 1: of some of the other big issues that these leaders

136
00:07:20,040 --> 00:07:20,920
Speaker 1: are discussing.

137
00:07:21,600 --> 00:07:24,720
Speaker 2: One of the central topics that emerged in President Biden's

138
00:07:24,760 --> 00:07:28,560
Speaker 2: speech on Tuesday to the gathering was the climate disasters

139
00:07:28,560 --> 00:07:31,200
Speaker 2: that we've seen pop up all over the world, particularly

140
00:07:31,240 --> 00:07:35,200
Speaker 2: in the US, but other places as well, floods, earthquakes, etc.

141
00:07:36,240 --> 00:07:40,200
Speaker 2: He's also trying to wrangle support and tandem with continue

142
00:07:40,240 --> 00:07:42,680
Speaker 2: ad to Ukraine, but just trying to give more attention

143
00:07:42,840 --> 00:07:45,440
Speaker 2: to climate change as well. So that's been one of

144
00:07:45,480 --> 00:07:48,720
Speaker 2: the more prominent features here Also, I mean.

145
00:07:48,640 --> 00:07:50,880
Speaker 4: Some of the other interesting things that we've been watching

146
00:07:50,920 --> 00:07:54,400
Speaker 4: again are really those bilateral meetings that have happened on

147
00:07:54,480 --> 00:07:59,080
Speaker 4: the sidelines of the UNGA. We've seen the leaders of

148
00:07:59,440 --> 00:08:03,160
Speaker 4: Turkey and Israel meeting with Elon Musk to try and

149
00:08:03,160 --> 00:08:06,280
Speaker 4: get him to build TESLA factories in their countries and

150
00:08:06,320 --> 00:08:09,720
Speaker 4: obviously entice him into doing business with them, and so

151
00:08:09,800 --> 00:08:13,320
Speaker 4: that's been really interesting to see, And of course some

152
00:08:13,360 --> 00:08:16,120
Speaker 4: of the behavior of the Middle East and leaders has

153
00:08:16,160 --> 00:08:18,680
Speaker 4: been very interesting. At the same time as this has

154
00:08:18,720 --> 00:08:22,960
Speaker 4: been happening away from the actual assembly itself, we're seeing

155
00:08:22,960 --> 00:08:26,480
Speaker 4: some really interesting shifts in behavior by these leaders. We're

156
00:08:26,480 --> 00:08:29,200
Speaker 4: seeing the role of Katar, for example, recently in the

157
00:08:29,240 --> 00:08:33,040
Speaker 4: swap of Iranian and US prisoners. We're seeing a much

158
00:08:33,080 --> 00:08:36,480
Speaker 4: more assertive Middle East leadership on the stage in general,

159
00:08:36,559 --> 00:08:39,640
Speaker 4: including in New York. They used to be very cagey

160
00:08:39,720 --> 00:08:42,679
Speaker 4: and quiet about some of their actions behind the scenes,

161
00:08:42,679 --> 00:08:46,040
Speaker 4: where they were playing roles of mediators or influencers, and

162
00:08:46,040 --> 00:08:48,920
Speaker 4: what we're really seeing is a much more assertive actions

163
00:08:49,080 --> 00:08:52,920
Speaker 4: by these countries. It Saudi Arabia, Ahman, Katar and others,

164
00:08:52,960 --> 00:08:55,160
Speaker 4: and of course the leaders of Turkey and Israel. So

165
00:08:55,240 --> 00:08:58,200
Speaker 4: really bit of joscelying going on amongst those countries to

166
00:08:58,240 --> 00:09:00,680
Speaker 4: show that influence on the global stage, and that's certainly

167
00:09:00,720 --> 00:09:03,240
Speaker 4: something also we've been watching very closely in New York.

168
00:09:04,120 --> 00:09:06,600
Speaker 1: Then, with so many things happening, it's kind of hard

169
00:09:06,640 --> 00:09:10,079
Speaker 1: to say whether there'll be one big takeaway from this meeting,

170
00:09:10,120 --> 00:09:12,040
Speaker 1: But what do you expect to come of.

171
00:09:12,000 --> 00:09:15,200
Speaker 5: It this year, I think the climate stuff probably is

172
00:09:15,520 --> 00:09:18,360
Speaker 5: going to be one of the big takeaways, not least

173
00:09:18,400 --> 00:09:21,400
Speaker 5: because you know, as Mario said, the build up to

174
00:09:21,480 --> 00:09:25,959
Speaker 5: the meeting was dominated by so many kind of graphic images.

175
00:09:25,920 --> 00:09:28,959
Speaker 1: Libya, the disaster unfolding there after a major storm on

176
00:09:29,120 --> 00:09:30,560
Speaker 1: least devastating floods.

177
00:09:30,679 --> 00:09:32,760
Speaker 6: Thousands are feared dead tonight.

178
00:09:32,520 --> 00:09:34,760
Speaker 5: While far as of burning in different parts of the continent,

179
00:09:34,840 --> 00:09:38,760
Speaker 5: including in France, Spain, Italy, Portugal, Croatia and Greece.

180
00:09:38,720 --> 00:09:42,000
Speaker 3: Historic and horrific weather that's just slamming the northeast.

181
00:09:42,120 --> 00:09:46,280
Speaker 5: Sixteen cities in Italy are under red alerts for extreme heat.

182
00:09:47,880 --> 00:09:52,400
Speaker 5: We spoke to the European Commission President Ursula Vondeline, who's

183
00:09:52,440 --> 00:09:56,079
Speaker 5: underlining her commitment to the European Green Deal and was

184
00:09:56,160 --> 00:09:59,040
Speaker 5: quite active on the sidelines in really trying to burnish

185
00:09:59,120 --> 00:10:02,680
Speaker 5: Europe's credentials that and maintain that leadership position. So I

186
00:10:02,720 --> 00:10:06,600
Speaker 5: think that while there are lots of questions in terms

187
00:10:06,640 --> 00:10:11,520
Speaker 5: of popular support push back from voters, climate skeptics quite

188
00:10:11,559 --> 00:10:16,240
Speaker 5: active on the ground in European politics, The atmosphere in

189
00:10:16,360 --> 00:10:20,080
Speaker 5: New York, and the global sense that this climate crisis

190
00:10:20,120 --> 00:10:23,559
Speaker 5: is becoming very very real, will really give them a tailwind.

191
00:10:24,160 --> 00:10:27,560
Speaker 1: After the break. Can the US help seal an agreement

192
00:10:27,640 --> 00:10:38,400
Speaker 1: between Israel and Saudi Arabia? As you said earlier that

193
00:10:38,520 --> 00:10:42,439
Speaker 1: leaders from Middle Eastern nations had been asserting themselves more

194
00:10:42,480 --> 00:10:46,359
Speaker 1: forcefully than they had before in New York and another

195
00:10:46,440 --> 00:10:50,520
Speaker 1: country is Iran. In the news, we're starting to see

196
00:10:50,760 --> 00:10:55,520
Speaker 1: this question of a deal between the Saudis in the Israelis,

197
00:10:55,559 --> 00:10:57,080
Speaker 1: which always pulls in Iran.

198
00:10:57,480 --> 00:11:00,760
Speaker 6: The US is involved. Tell us exactly what's happening with that.

199
00:11:01,520 --> 00:11:04,160
Speaker 4: It's very interesting because of course we had this prisoner

200
00:11:04,200 --> 00:11:06,920
Speaker 4: swap recently, so it was a five to five deal.

201
00:11:07,080 --> 00:11:10,280
Speaker 4: America got five Americans back, around got five Iranians back.

202
00:11:10,800 --> 00:11:13,960
Speaker 3: Five American citizens tonight are on the final leg of

203
00:11:14,000 --> 00:11:17,000
Speaker 3: their year's long journey to freedom. Just hours from now,

204
00:11:17,040 --> 00:11:20,680
Speaker 3: the prisoners who were wrongly detained inside Iran will arrive

205
00:11:20,760 --> 00:11:21,440
Speaker 3: back in the US.

206
00:11:21,559 --> 00:11:24,360
Speaker 4: But for in a way. The thing that's very interesting

207
00:11:24,400 --> 00:11:26,760
Speaker 4: in all of this is Iran also got six billion

208
00:11:26,840 --> 00:11:29,480
Speaker 4: dollars back that had been locked up for years in

209
00:11:29,520 --> 00:11:32,480
Speaker 4: South Korea, tied up in the moras of sanctions and

210
00:11:32,520 --> 00:11:36,679
Speaker 4: penalties over its nuclear program. And that six billion dollars

211
00:11:36,760 --> 00:11:39,600
Speaker 4: is a really big deal for Iran, and it seems

212
00:11:39,640 --> 00:11:41,839
Speaker 4: that it came with the promise that would only be

213
00:11:42,040 --> 00:11:45,640
Speaker 4: used for certain things like humanitarian aid, but no way

214
00:11:45,640 --> 00:11:48,520
Speaker 4: of enforcing that. So in the end, the US essentially

215
00:11:48,520 --> 00:11:51,360
Speaker 4: allowed Iran to take that money back. And it's coming

216
00:11:51,400 --> 00:11:54,680
Speaker 4: against a backdrop of this idea of gentle navigation of

217
00:11:54,720 --> 00:11:57,840
Speaker 4: Iran to be a better actor on the nuclear front.

218
00:11:58,160 --> 00:12:01,480
Speaker 4: But also that quietly, you know, Rainian oil has been

219
00:12:02,040 --> 00:12:06,080
Speaker 4: flowing again, and that's a really interesting thing for the US.

220
00:12:06,800 --> 00:12:09,440
Speaker 4: And we're in an environment where the US is probably

221
00:12:09,440 --> 00:12:11,720
Speaker 4: watching very closely to see if we're back in an

222
00:12:11,800 --> 00:12:14,920
Speaker 4: era of oil over one hundred dollars, which I'm sure

223
00:12:15,000 --> 00:12:17,360
Speaker 4: Joe Biden does not want to see as we get

224
00:12:17,360 --> 00:12:20,440
Speaker 4: into election seas, and is a protracted period of high

225
00:12:20,520 --> 00:12:23,240
Speaker 4: oil inflation back in the headlines and the questions of

226
00:12:23,280 --> 00:12:27,040
Speaker 4: what that means for the Federal Reserve. And of course

227
00:12:27,080 --> 00:12:31,319
Speaker 4: Saudi Arabian Russia have been unilaterally sort of using their

228
00:12:31,400 --> 00:12:34,680
Speaker 4: clout in the global oil market to try and keep

229
00:12:34,760 --> 00:12:38,400
Speaker 4: prices high by cutting output. So if you have Iranian

230
00:12:38,400 --> 00:12:42,000
Speaker 4: oil flowing again, does that affect the dynamic? So there's

231
00:12:42,000 --> 00:12:44,800
Speaker 4: really a bunch of very big, complex things that play

232
00:12:45,320 --> 00:12:47,360
Speaker 4: beyond what you would see on the surface as a

233
00:12:47,400 --> 00:12:50,240
Speaker 4: straightforward prisoner swap, and it all leads back in some

234
00:12:50,360 --> 00:12:56,000
Speaker 4: fashion also to US politics and the US economy. Then

235
00:12:56,040 --> 00:12:58,520
Speaker 4: you have the idea of sort of Saudi Arabia and

236
00:12:58,679 --> 00:13:01,840
Speaker 4: Israel joining four is more and more overtly in the

237
00:13:01,880 --> 00:13:05,000
Speaker 4: Middle East, and that's sort of a very new development

238
00:13:05,080 --> 00:13:07,640
Speaker 4: in recent years that we're seeing, and that's leading to

239
00:13:08,240 --> 00:13:11,960
Speaker 4: a greater trust around business ties, investment, trade ties, but

240
00:13:12,040 --> 00:13:16,280
Speaker 4: also the US wanting Saudi Arabia and Israel very much

241
00:13:16,320 --> 00:13:20,520
Speaker 4: working with it for American interests in the region. It's

242
00:13:20,640 --> 00:13:23,360
Speaker 4: very unclear exactly how that's going to play out and

243
00:13:23,400 --> 00:13:26,520
Speaker 4: how tenable it might be in the long term, because

244
00:13:26,559 --> 00:13:28,760
Speaker 4: these are after all countries that do act in their

245
00:13:28,760 --> 00:13:31,200
Speaker 4: own interests in the longer term, and if there's a

246
00:13:31,320 --> 00:13:33,679
Speaker 4: change of administration in the US that could throw yet

247
00:13:33,679 --> 00:13:35,199
Speaker 4: another wrench into the mix.

248
00:13:36,240 --> 00:13:39,000
Speaker 1: And Mario Joe Biden for a long time has tried

249
00:13:39,080 --> 00:13:43,959
Speaker 1: to strike a deal with Saudi Arabia to normalize relations

250
00:13:44,000 --> 00:13:48,120
Speaker 1: between the Saudis and the Israelis. He met with Israeli

251
00:13:48,200 --> 00:13:53,120
Speaker 1: Prime Minister Benjamin Natanyahu this week. Exactly what's happening in

252
00:13:53,160 --> 00:13:54,000
Speaker 1: that discussion.

253
00:13:54,920 --> 00:13:57,480
Speaker 2: Well, a couple of things. There's drama. First of all

254
00:13:57,520 --> 00:14:00,600
Speaker 2: in the fact that Nen Yahoo have been expected to

255
00:14:00,640 --> 00:14:03,560
Speaker 2: meet at the White House much earlier than this. Back

256
00:14:03,600 --> 00:14:08,080
Speaker 2: in July, Israeli President Herzog visited the White House.

257
00:14:08,440 --> 00:14:11,400
Speaker 1: Thank you, mister President, It's wonderful to see you again.

258
00:14:12,240 --> 00:14:15,439
Speaker 2: I bring a message of greeting and gratitude on behalf

259
00:14:15,520 --> 00:14:18,520
Speaker 2: of the people of Israel the entire Now that's a

260
00:14:18,600 --> 00:14:24,440
Speaker 2: mostly ceremonial role. While Yahoo, essentially there had been speculation

261
00:14:24,720 --> 00:14:26,840
Speaker 2: or it was viewed widely that it was a snub

262
00:14:26,880 --> 00:14:30,360
Speaker 2: toward him. So the White House quickly, given the tight

263
00:14:30,440 --> 00:14:33,680
Speaker 2: relationship between the US and Israel, the US quickly said that,

264
00:14:33,720 --> 00:14:37,720
Speaker 2: oh well, they'll meet it sometime matt on the sidelines

265
00:14:38,240 --> 00:14:41,960
Speaker 2: Wednesday of the UN Summit. So it's not quite a

266
00:14:42,000 --> 00:14:46,960
Speaker 2: White House visit, right that Yahoo would typically expect. Biden

267
00:14:47,120 --> 00:14:50,280
Speaker 2: had some terse words from him earlier this year, given

268
00:14:50,320 --> 00:14:54,600
Speaker 2: some of the far right initiatives that he's undertaken, particularly

269
00:14:54,720 --> 00:14:59,280
Speaker 2: with their judiciary as well. But look, as you mentioned, Wes,

270
00:14:59,480 --> 00:15:04,040
Speaker 2: Biden wants to normalize relations between the Arab States Israel,

271
00:15:04,160 --> 00:15:07,280
Speaker 2: Saudi Arabia being one of those as well, but also

272
00:15:07,440 --> 00:15:10,520
Speaker 2: to Roz's point, not all of this is just altruism

273
00:15:10,560 --> 00:15:13,080
Speaker 2: on the part of the US or Joe Biden. A

274
00:15:13,080 --> 00:15:16,000
Speaker 2: lot of this, recall, is the fact that Saudi Arabia,

275
00:15:16,040 --> 00:15:21,880
Speaker 2: a major oil producer, is being courted by China for

276
00:15:21,960 --> 00:15:25,480
Speaker 2: the US, for Biden, there's a strategic benefit to kind

277
00:15:25,480 --> 00:15:27,440
Speaker 2: of reining that in and stepping in the way of that.

278
00:15:27,920 --> 00:15:31,520
Speaker 2: And again to Roz's point, particularly as we look at

279
00:15:31,600 --> 00:15:34,240
Speaker 2: just how vital the role Saudi Arabia plays in the

280
00:15:34,360 --> 00:15:37,000
Speaker 2: energy market, and we look toward twenty twenty four, and

281
00:15:37,040 --> 00:15:39,600
Speaker 2: we know Americans love their gas guzzling cars.

282
00:15:40,760 --> 00:15:40,960
Speaker 6: Yeah.

283
00:15:41,000 --> 00:15:43,720
Speaker 5: The thing that really struck me there was a report

284
00:15:43,760 --> 00:15:45,680
Speaker 5: by JP Morgan out at the start of the week

285
00:15:45,800 --> 00:15:48,080
Speaker 5: which said that the nine million virals of oil that

286
00:15:48,120 --> 00:15:51,040
Speaker 5: the Saudis are pumping every day is two million less

287
00:15:51,040 --> 00:15:54,280
Speaker 5: than they were pumping a year ago. And that's lower

288
00:15:54,320 --> 00:15:57,960
Speaker 5: than anything we've seen over the last decade except that

289
00:15:58,040 --> 00:16:03,120
Speaker 5: anomalous period during the COVID lockdowns. That to me is

290
00:16:03,200 --> 00:16:08,480
Speaker 5: a sign of just how indifferent the Saudi administration seems

291
00:16:08,480 --> 00:16:11,120
Speaker 5: to have become in the run up to a US

292
00:16:11,200 --> 00:16:16,720
Speaker 5: election to be allowing or indeed encouraging the price of

293
00:16:16,760 --> 00:16:22,160
Speaker 5: oil to rise so high shows just how that relationship

294
00:16:22,360 --> 00:16:24,560
Speaker 5: has cooled in recent years.

295
00:16:25,320 --> 00:16:29,680
Speaker 1: When we come back, Washington heads toward another government shut.

296
00:16:29,440 --> 00:16:38,800
Speaker 6: Down, Mario.

297
00:16:38,840 --> 00:16:42,320
Speaker 1: Another big piece of news back in the US is

298
00:16:42,400 --> 00:16:45,760
Speaker 1: the United Auto Workers strike against all three of the

299
00:16:45,760 --> 00:16:51,120
Speaker 1: big legacy Detroit automakers. Joe Biden again very closely watching

300
00:16:51,480 --> 00:16:54,080
Speaker 1: that strike for a lot of reasons, the US economy,

301
00:16:54,120 --> 00:16:54,920
Speaker 1: his own election.

302
00:16:55,800 --> 00:16:59,400
Speaker 2: Last Friday, Biden made a statement when they decided to strike,

303
00:16:59,400 --> 00:17:01,640
Speaker 2: seeing he was to dispatch two of his top aids

304
00:17:01,720 --> 00:17:05,200
Speaker 2: over the last seven days. He did not dispatch those aids,

305
00:17:05,280 --> 00:17:08,400
Speaker 2: instead saying that they were going to be on the sidelines.

306
00:17:08,560 --> 00:17:11,560
Speaker 2: They'll swoop in whenever it was the best moment. They're

307
00:17:11,560 --> 00:17:13,240
Speaker 2: going to let the two sides kind of hash it

308
00:17:13,280 --> 00:17:17,240
Speaker 2: out without the heavy hand of the White House directly interfering. Right.

309
00:17:17,680 --> 00:17:20,520
Speaker 2: But then there's the thorny politics of it all, because

310
00:17:20,640 --> 00:17:24,200
Speaker 2: right now as it stands, there's a potential rematch for

311
00:17:24,240 --> 00:17:29,080
Speaker 2: the twenty twenty four presidential election, and Biden's number one rival,

312
00:17:29,280 --> 00:17:32,920
Speaker 2: his predecessor, former President Donald Trump, has announced that he

313
00:17:33,040 --> 00:17:37,119
Speaker 2: will be visiting Detroit next week to counter program the debate,

314
00:17:37,359 --> 00:17:39,600
Speaker 2: but also as a way to kind of drive a

315
00:17:39,720 --> 00:17:42,639
Speaker 2: wedge between both union leadership and the rank and file,

316
00:17:42,960 --> 00:17:46,359
Speaker 2: but also to spread that populous message and try to

317
00:17:46,440 --> 00:17:49,840
Speaker 2: peel away again some of those labor interest that were

318
00:17:49,920 --> 00:17:52,560
Speaker 2: loyal to President Biden in twenty twenty.

319
00:17:53,480 --> 00:17:56,119
Speaker 4: But it's also a beig questioning globally when we're talking

320
00:17:56,200 --> 00:17:59,480
Speaker 4: about the intriacies of the global supply chain. We've got

321
00:17:59,480 --> 00:18:03,760
Speaker 4: companies in Asia, Japanese companies that get parts from some

322
00:18:03,840 --> 00:18:07,000
Speaker 4: of these big automakers in the US. So it's not

323
00:18:07,080 --> 00:18:09,960
Speaker 4: just the actual vehicles themselves, but it's components or they

324
00:18:10,000 --> 00:18:14,400
Speaker 4: supply components to these automakers, and questions about whether that's

325
00:18:14,440 --> 00:18:16,760
Speaker 4: going to continue, how long the strikes might go on

326
00:18:16,880 --> 00:18:19,359
Speaker 4: for as a result. So it really is again a

327
00:18:19,400 --> 00:18:21,879
Speaker 4: reminder that we're all very much bound together when it

328
00:18:21,880 --> 00:18:24,600
Speaker 4: comes to global supply chains, and what can happen in

329
00:18:24,600 --> 00:18:26,760
Speaker 4: one country can have a really big knock on effect

330
00:18:27,040 --> 00:18:30,320
Speaker 4: around the world into Asia and to Europe and beyondest

331
00:18:30,359 --> 00:18:32,959
Speaker 4: So a lot of companies are watching that closely. Are

332
00:18:32,960 --> 00:18:36,040
Speaker 4: they watching obviously to see if their staff get ideas

333
00:18:36,080 --> 00:18:38,199
Speaker 4: from what's happening in the US and decide that now

334
00:18:38,320 --> 00:18:40,720
Speaker 4: is also the moment to go on strike. Of course,

335
00:18:40,760 --> 00:18:43,040
Speaker 4: there's no sort of forensic data to hand, but the

336
00:18:43,119 --> 00:18:46,000
Speaker 4: ros mathieson radar a little bit is sort of pointing

337
00:18:46,040 --> 00:18:49,440
Speaker 4: to a bit of an uptick in industrial action in general,

338
00:18:49,720 --> 00:18:53,040
Speaker 4: which is sort of a reflection of the global political climate.

339
00:18:54,040 --> 00:18:56,960
Speaker 1: Mario, you thought you could flee to New York and

340
00:18:57,200 --> 00:19:01,879
Speaker 1: escape the battles in Washington. But another really big story

341
00:19:01,920 --> 00:19:05,640
Speaker 1: happening in the US is NBC over the potential of

342
00:19:05,720 --> 00:19:06,960
Speaker 1: a government shut down.

343
00:19:07,359 --> 00:19:10,359
Speaker 5: Internal fighting within the Republican Party is threatening ideal in

344
00:19:10,400 --> 00:19:11,240
Speaker 5: the US Congress.

345
00:19:11,320 --> 00:19:14,040
Speaker 1: As a result, the House remains that a standstill while

346
00:19:14,040 --> 00:19:17,800
Speaker 1: the government shutdown drolls near it. What exactly is happening

347
00:19:17,840 --> 00:19:22,000
Speaker 1: because unlike usual ones, whereas Republicans versus Democrats, this one

348
00:19:22,040 --> 00:19:24,600
Speaker 1: seems to be Republicans versus Republicans.

349
00:19:25,400 --> 00:19:25,680
Speaker 5: Yeah.

350
00:19:25,720 --> 00:19:29,600
Speaker 2: Absolutely, I mean, if anyone was paying attention to the

351
00:19:29,640 --> 00:19:34,000
Speaker 2: battle for the Speaker's gavel earlier this year, this is

352
00:19:34,280 --> 00:19:38,600
Speaker 2: not a surprise. It may be dismaying, especially as we

353
00:19:38,640 --> 00:19:41,680
Speaker 2: look at the economic effects and a likelihood that we're

354
00:19:41,680 --> 00:19:44,600
Speaker 2: barreling toward a government shut down. You could see all

355
00:19:44,640 --> 00:19:46,600
Speaker 2: of this playing out in some of the oppositions to

356
00:19:47,000 --> 00:19:51,560
Speaker 2: Speaker Kevin McCarthy's pursuit of some level of bipartisanship in

357
00:19:51,680 --> 00:19:54,800
Speaker 2: order to just get some of these more rudimentary things done,

358
00:19:55,040 --> 00:19:57,960
Speaker 2: passing a budget, keeping the government going, all those things.

359
00:19:57,960 --> 00:20:00,000
Speaker 2: We saw some of this flare up earlier this year

360
00:20:00,119 --> 00:20:03,760
Speaker 2: year with the threat of the debt ceiling. Right now,

361
00:20:03,880 --> 00:20:07,280
Speaker 2: he's got the far right part of his party and

362
00:20:07,359 --> 00:20:10,080
Speaker 2: he has the bridge that got with the more moderates. Right,

363
00:20:10,760 --> 00:20:14,639
Speaker 2: the deal that House Speaker McCarthy made in order to

364
00:20:14,800 --> 00:20:17,520
Speaker 2: get the gavel was the fact that it would only

365
00:20:17,560 --> 00:20:22,200
Speaker 2: take essentially one person saying that he needs to vacate

366
00:20:22,320 --> 00:20:25,040
Speaker 2: that position. Right now, You've got the likes of like

367
00:20:25,240 --> 00:20:28,520
Speaker 2: Matt Gates, You've got some others in the Freedom Caucus.

368
00:20:28,520 --> 00:20:32,280
Speaker 2: The Freedom Caucus for our listeners who aren't aware, are

369
00:20:32,359 --> 00:20:36,000
Speaker 2: essentially the far right part of the Republican Party. They

370
00:20:36,040 --> 00:20:38,160
Speaker 2: want to use this as a way to extract their

371
00:20:38,160 --> 00:20:42,679
Speaker 2: demands border walls, tighter immigration we mentioned earlier in the

372
00:20:42,720 --> 00:20:46,720
Speaker 2: program about funding for Ukraine, all those things that are

373
00:20:46,760 --> 00:20:49,520
Speaker 2: dear to them.

374
00:20:49,640 --> 00:20:51,240
Speaker 1: Then, when the rest of the world is looking what's

375
00:20:51,240 --> 00:20:54,679
Speaker 1: happening in Washington, they've certainly seen this show before. But

376
00:20:55,160 --> 00:20:58,040
Speaker 1: is there any concern about the government shutting down for

377
00:20:58,080 --> 00:21:00,560
Speaker 1: some period of time. Does it have not effects in

378
00:21:00,600 --> 00:21:01,320
Speaker 1: the rest of the world.

379
00:21:02,160 --> 00:21:07,560
Speaker 5: I'm sure that if you are trying to trade this situation,

380
00:21:08,040 --> 00:21:12,480
Speaker 5: you can't avoid thinking about what sort of head does

381
00:21:12,520 --> 00:21:14,920
Speaker 5: you want to put on. But I think the broader

382
00:21:15,000 --> 00:21:17,159
Speaker 5: reaction in Europe is just a bit of eye rolling.

383
00:21:17,480 --> 00:21:20,199
Speaker 5: It seems to be every six or nine months or so,

384
00:21:20,280 --> 00:21:23,920
Speaker 5: we have like a debt ceiling standoff, or a government

385
00:21:24,080 --> 00:21:29,640
Speaker 5: shut down or some kind of partisan gridlock that threatens

386
00:21:29,680 --> 00:21:33,280
Speaker 5: to obstruct the US government. But the US's economy, the

387
00:21:33,400 --> 00:21:37,240
Speaker 5: US state, it keeps rolling on. The US did lose

388
00:21:37,320 --> 00:21:41,480
Speaker 5: it's triple A rating recently, but I think the markets

389
00:21:41,480 --> 00:21:43,680
Speaker 5: in general shrugged that off, and I don't think they're

390
00:21:43,720 --> 00:21:44,840
Speaker 5: too worried about this either.

391
00:21:46,119 --> 00:21:49,000
Speaker 6: Then, Mario raz great to see you.

392
00:21:49,560 --> 00:21:52,440
Speaker 5: Nice to see you too, Wes, thank you, Thanks Worse.

393
00:21:53,680 --> 00:21:55,520
Speaker 1: Thanks for listening to us here at The Big Take.

394
00:21:55,680 --> 00:21:58,760
Speaker 1: It's a daily podcast from Bloomberg and iHeartRadio. For more

395
00:21:58,800 --> 00:22:02,760
Speaker 1: shows from iHeart Radio, visit the iHeartRadio app, Apple Podcasts,

396
00:22:02,840 --> 00:22:05,840
Speaker 1: or wherever you listen, and we'd love to hear from you.

397
00:22:06,160 --> 00:22:09,640
Speaker 1: Email us questions or comments to Big Take at Bloomberg

398
00:22:09,680 --> 00:22:13,720
Speaker 1: dot Net. The supervising producer of the Big Take is

399
00:22:13,800 --> 00:22:18,560
Speaker 1: Vicky Rgalina. Our senior producer is Catherine Fink. Federica Romanello

400
00:22:18,680 --> 00:22:23,480
Speaker 1: is our producer. Our associate producer is Zenebsidiki. Philde Garcia

401
00:22:23,600 --> 00:22:27,560
Speaker 1: is our engineer. Our original music was composed by Leo Sidrin.

402
00:22:28,000 --> 00:22:30,960
Speaker 1: I'm west Ksova. We'll be back on Monday with another

403
00:22:31,040 --> 00:22:32,840
Speaker 1: Big Take. Have a great weekend.