White House “FLOW,” Pressures in Beijing, & Kremlin Debt Drama 3/15/22

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 16 March 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chinese tech stocks are under serious pressure as domestic and international regulators heighten scrutiny on Chinese firms and Covid cases prompt lockdowns in Chinese manufacturing facilities and port cities. Meanwhile, Russia denies that the Kremlin asked Beijing for military support and for aid in avoiding Western sanctions as it wages war in Ukraine, and Chinese officials deny that they signaled being open to Russia’s request. After a 7-hour, “intense” talk between U.S. and Chinese officials about the conflict, the world still has little clarity on China’s stance. Here at home, the White House is rolling out a new program to ease supply chain congestion; Transportation Secretary Pete Buttigieg explains the strategy and the impact of infrastructure investment on inflation. Plus, global investors are weighing the risk of Russia defaulting on its debt, and on Equal Pay Day, the gender pay gap is just as present as ever. In this episode: Sec. Pete Buttigieg, @SecretaryPete Eunice Yoon, @onlyyoontv Leslie Picker, @LesliePicker Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Klaire Odumody, @klairemarie

Transcript

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0:00.0	Bring in show music please.
0:02.6	This is Squag Pot.
0:06.2	I'm C. NBC producer Claire Odymody.
0:08.6	Today on our podcast, tracking the China headlines, tech stocks tumbling, COVID rising and the he said
0:16.3	she said geopolitics in Beijing with UNICEU. There are a lot of question marks
0:20.8	as to whether or not China's relationship, it's very close
0:23.8	relationship with Russia, is going to end up becoming a big issue for US-China
0:28.9	relations. And the Biden administration fighting inflation with more spending?
0:34.8	Transportation Secretary Pete Boudrejage explains.
0:37.8	We're thinking a lot about bang for our buck, right?
0:39.8	In the infrastructure bill, we got $1.2 trillion dollars of I would definitely call
0:43.7	it investment but yeah it is critically important that we are tight about that.
0:47.6	Those stories plus brackets are ready the gender wage gap is still a problem and the oil markets are moving.
0:56.0	We saw oil W.T. I had $130 in change last Monday.
1:00.0	This morning I saw it at 96 in change. It's Tuesday, March 15.
1:05.0	Yes, it's the eye to march.
1:07.0	Squawkpot begins right now.
1:09.0	First up today, an update from the oil patch. U.S. crude prices are sliding lower.
1:18.2	They've slipped about 8% and below $95 a barrel, while International Brent is also down
1:24.2	and below $98 a barrel.
1:26.3	But it's key to remember, $98 and $95 a barrel
1:30.6	are still really high.
	...

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