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First Move with Julia Chatterley
Wholesale Data Show Price Increases Slowed in November; Mobius: Crypto is a Faith for Many People; Today: Croatia versus Brazil, Argentina versus Netherlands; Global Fund Raises $15.7B to Tackle AIDS, TB, Malaria; Space Tourists Picks Eight People for Maiden Lunar Voyage. Aired 9-10a ET
Aired December 09, 2022 - 09:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JULIA CHATTERLEY, CNN HOST, FIRST MOVE: A warm welcome to "First Move", this Friday TGIF and the start of a quarterfinal World Cup elation for the
winners. Of course, for the loser's elimination and for England fans, I'm sure it will be. Yes, you guessed it gratification and you know I'm biased
so we'll move swiftly on. Unfortunately, it's red cards.
However, for markets U.S. stock market futures giving up gains after more inflation that frustration just released numbers showing prices at the
factory gate. The so called producer price index rising by a greater than expected at 7.4 percent year over year that rate hotter than expected too
and the month over month readings as well. It's the first in fact of two major inflation indicators ahead of the U.S. Central Bank meeting next week
and as you would expect, the market reaction is negative.
Wall Street now futures firmly lower Europe also mostly well it's a mixed bag as you can see there there's extra DAX in fact managing to hold half a
percentage points higher. We'll discuss the market outlook however, with famed Investor Mark Mobius, known for his winning trades in emerging
markets in particular, and more recently, some bold calls on Bitcoin crypto enthusiasts take cover. Mobius sees a further 40 percent crash that could
take Bitcoin down to $10,000 a coin from where are we now, $17,000 per Bitcoin levels as we speak.
In the meantime, Asia finishing out the week in the green new numbers from China show a further easing of consumer prices over there particularly for
food and the HANG SENG up for a second straight day buoyed by China's moves to ease COVID restrictions. COVID cases, however, asked her on the rise
across China as one would expect just one of a number of huge health care challenges worldwide, which we'll be discussing. And a brand new push to
battle AIDS, tuberculosis, malaria and other diseases with Chelsea Clinton, the Vice Chair of the Clinton Foundation and the Clinton Health initiative
that's coming up on the show.
But first, we do start with an emotional homecoming for basketball star Brittney Griner now back on U.S. soil after a 10-month ordeal in Russia.
Griner landed in San Antonio, Texas just a few hours ago. A U.S. official told CNN, she was in good spirits and "Incredibly Gracious".
Griner had just begun serving a nine-year prison sentence in a Russian Penal colony on a drug smuggling conviction. She was freed in a swap with
the Russian Viktor Bout, a convicted arms dealer who had been imprisoned in the United States, the two of them passing. As you can see they're on the
airport tarmac in Abu Dhabi on Thursday.
Rosa Flores joins us now from San Antonio. And, Rosa, I know you were there for when she stepped onto the tarmac in the United States. Her first three
steps felt a little anti-climatic to me. I've watched the video number of times, but one can only imagine what she felt at that moment?
ROSA FLORES, CNN CORRESPONDENT: You know, you're absolutely right yes, you look at that video. And it seems very anti-climactic, like you said. And it
really was here from the ground because as you mentioned, I was here when that plane landed.
There really was no big fanfare. There was no big public spectacle welcoming Brittney Griner to the United States. It really was very simple.
All that we witnessed happened here was the plane landed here at Kelly Field in San Antonio, Texas.
And the plane stopped by a hangar and a few officials boarded the plane and then after a few minutes, literally a few minutes they de planed and then
Brittney Griner left the plane, got off the plane and she walked into a hangar. And that's all that we were able to observe here from the public
spaces where all of the media was and that was it. But those were her first steps as a free American in the United States.
FLORES (voice over): Brittney Griner is finally home. The WNBA star landed in San Antonio early this morning after nearly 10 months detained in
UNIDENTIFIED FEMALE: The most important emotion that I have right now is just sincere gratitude.
FLORES (voice over): Griner is returning home to her family, teammates and a legion of supportive fans.
CHINEY OGWUMIKE, VP, and WOMEN'S NATIONAL BASKETBALL PLAYERS ASSOCIATION: We love you and we are here for you. We know that the journey that she has
just experienced was a very difficult one, but we're here to walk with her step by step.
FLORES (voice over): The Biden Administration secured Griner's released in a high stakes prisoner swap with arms dealer Viktor Bout after months of
JOE BIDEN, PRESIDENT OF UNITED STATES OF AMERICA: I'm proud that today we had made one more family whole again. So welcome home Brittney.
FLORES (voice over): Griner is seen here leaving Russian detention boarding a plane given her passport and realizing she is heading home. This swap
took place in Abu Dhabi, where the two were seen passing each other on the tarmac. The WNBA star was detained in Russia back in February after
cannabis oil was found in her suitcase at an airport in the Moscow region.
She was sentenced to nine years in prison in early August and was moved to a Penal colony in mid-November after losing her appeal. Paul Whelan,
another American detained in Russia was notably left out of the exchange. The Biden Administration has come under fire for not securing his release.
ANTONY BLINKEN, U.S. SECRETARY OF STATE: This was not a choice of which American to bring home. The choice was one or none.
FLORES (voice over): A Senior Administration official tells CNN the Biden Administration has ideas for new forms of offers; they are going to try
with Russia in an effort to bring Whelan home. President Biden spoke to Whelan's sister on Thursday.
ELIZABETH WHELAN, PAUL WHELAN'S SISTER: There are a lot of people moaning and groaning about Viktor Bout going back to Russia. But I've got to say,
it's an amazing thing to be able to get Brittney back. So I would urge everyone to, you know, to keep their partisan sniping out of it.
FLORES (voice over): CNN spoke by phone with Whelan.
PAUL WHELAN, AMERICAN DETAINED IN RUSSIA: I would say that if a message could go to President Biden, that this is a precarious situation that needs
to be resolved quickly.
FLORES: And now, Julia, the other obvious question here, of course, is what happens next? What happens with Brittney Griner and while U.S. officials
are not saying exactly what's going to happen and give us a play by play of what her day is going to be like today? They do say that she is going to a
medical facility to get a medical evaluation.
And as you know, just a few months ago, Trevor Reed went through this very same experience. He actually landed here at Kelly Field in San Antonio,
Texas, and he was offered the opportunity for a program by the DOD that helps not just military people, but also civilians reintegrate into society
after an isolation event in this case being detained in a foreign prison. And Trevor Reed's family telling CNN that they recommend for Brittney
Griner to do this and for the process to be at her pace because of course, this is different for everybody and of course it's different for Trevor
It's going to be different for Brittney Griner. But the point here is that there is care that is here in the United States the U.S. welcoming Brittney
Griner with open arms and resources. So that she can be a free American here on U.S. soil and hopefully get back to her family soon, Julia.
CHATTERLEY: Yes, and for now safely back home. Rosa Flores thank you so much for that. OK, now to China, where a temporary shortage of anti-
epidemic drugs is reported the country now bracing for a potential surge of COVID cases as it slowly moves away from the zero COVID policy.
This comes after angry protests erupted across the nation against the strict government restrictions. And the world has been able to see the rare
images despite China's Great Firewall censorship. Thanks to one Chinese artist in Italy in particular, and our Selina Wang got to speak to him.
SELINA WANG, CNN CORRESPONDENT (voice over): Video after video of historic anti-zero COVID protests in China. Broadcast on the world's television
screens everywhere inside China, where authorities censored all evidence of the protests. So how did these images managed to get beyond China's
Newsrooms around the world, including CNN have been relying on information from this Twitter account. And there's only one man behind it? Li, a
Chinese painter in Italy, whose identity we're hiding for security reasons.
MR. LI, OWNER OF TWITTER ACCOUNT @ WHYYOUTOUZHELE: This account may become a symbol of the Chinese people are still pursuing freedom of speech. When
you post something within China will quickly disappear. This account can document all these historical events that cannot be saved inside the
WANG (voice over): His account quickly turned into one of the world's key sources for protest information. Li says he received thousands of
submissions per day as the demonstrations unfolded. Apps like Twitter, YouTube and Instagram are banned in China. But people used virtual private
networks or VPNs, which are prohibited in China to access Twitter and send their videos to leave.
WANG (on camera): What's the motivation behind all the work you do?
LI: It tell up people inside of China - see what's happening --?
WANG (voice over): That's exactly what authorities want to prevent. Here's what happens if you search for information about any of the protests on
Chinese social media. You get a notice that says, Sorry, no relevant results are found.
Meanwhile on Li's Twitter account he was rapidly uploading videos of demonstrations across China from Urumqi, Nanjing, Chengdu, to Shanghai.
Will protesters chanted for Xi Jinping to step down, calling for freedom and did end to zero COVID.
And researchers say the Chinese government is even trying to bury information about the protests from social media users abroad. Search on
Twitter in Chinese characters for cities that had protests and you get this a flood of spam and porn advertisements. The spam campaign researchers say
appears to be the work of Chinese authorities. Twitter did not respond to a request for comment.
WANG (on camera): Are you worried about your own safety?
LI: Of course I'm very worried. I get a lot of anonymous harassment saying I know who you where you live and I will kill you.
WANG (voice over): His parents frequently call him in fear, he says, and the Chinese authorities have been harassing them too. Making midnight
visits to their home in China.
WANG (on camera): What price do you think you have to pay for the work that you do?
LI: This account is more important than my life. I will not shut it down. I've arranged for someone else to take over. If something bad happens to
me. I'm mentally prepared even if authorities wouldn't let me see my parents again.
WANG (voice over): Authorities in China tried to keep the country in a parallel universe. But Li has playing a pivotal role in breaking that
bubble. Li spends hours a day on the account. Only taking breaks to feed his cat and barely slept during the peak of protests.
As he sorted and verified the endless stream of video submissions each one urgent and historic. He's doing the work that he hopes one day Chinese
journalists and Chinese citizens from within China will be able to do without fear. Selina Wang, CNN, Beijing.
CHATTERLEY: Great, OK, let's talk data prices paid to producers in the United States rose less quickly last month modestly hopeful sign for
consumers. The November producer price index though was up 7.4 percent year over year. That's down from an 8 percent gain in October is a critical
Before central bankers meet next week to agree on their last interest rate hike of the year. CNN's Paul la Monica joins me now. The problem is Paul,
and you said it on Twitter. This was hot, hot, I think is how you described it hotter than expected. Certainly and that's the last thing I think
consumers, investors nor the Fed wanted to see at this point in time.
PAUL R, LA MONICA, CNN REPORTER: Yes, exactly. Yes, sorry to go all Buster Poindexter on you there but you know, a child of the 80's. What can I do?
But yes, the issue is that even though as you pointed out Julia, 7.4 percent increase over the past 12 months. That's a sigh of relief when we
were you know, having 8 percent in October.
However, economists were expecting the drop to be even steeper, the estimates were for a 7.2 percent increase year over year. So slightly
higher than that and I think the reason why futures then turned around. We were looking at higher open now slightly lower is because again, it's going
to raise questions about what the Fed does next week.
Everyone's hoping for the pivot just a half point rate increase, instead of a fifth straight three quarters of a percentage point increase. Odds are
still in favor of just a 50 basis point hike next week. But is Jerome Powell going to sound more hawkish again on the Commedia call that I think
is going to be something that a lot of Investors are going to be looking very closely at. And of course, we get CPI numbers on Tuesday, one day
before the Fed announcement.
CHATTERLEY: Yes, we were talking earlier this week that it's just a deeply uncertain time. And you and you feel that when you look at some of the
short term price action in the markets. Good data, impact stocks, because there's a fear that the Fed is going to have to do more in terms of rate
hikes, and perhaps hang on in there for longer.
Bad data suggests perhaps that they've already done too much and that the recessionary risks are rising, and it feels pretty sclerotic at this
moment. And unfortunately, it's just a case of really waiting and seeing and watching data like this to understand or try to.
MONICA: Yes, I think the biggest problem right now facing the markets and of course facing Jerome Powell and the rest of the Fed is how do they
manage this economy? They want inflation pressures to come down and they know the Fed that is by doing. So you're probably going to create some
dislocation in the job market.
The unemployment rate will likely spike maybe not dramatically, but rise from these near half century low levels as a result of doing that you raise
the odds of a recession. The Fed really would love to stick this soft dishes.
MONICA: Jerome Powell is referred to it landing, but it's a delicate balance and I don't think many on Wall Street are confident that the Fed
can really pull it off and then the risk becomes does the Fed create a recession? That is the last thing consumers need right now to go from
prices are really slamming shut, you know, consumer demand to a full blown recession. I mean, we're already seeing what's happening to the housing
market as a result of higher interest rates and higher mortgage rates. I don't think the Fed wants that to be something that's a ripple effect for
the entire economy.
CHATTERLEY: Yes, and to your point, the way that you calibrate finding that balance perhaps is you do smaller incremental hikes rather than the big
ones and you see what the impact is, as they feed into the economy. We shall see Paul la Monica, thank you for that. We're back after this stay
CHATTERLEY: Welcome back to "First Move"! In a world of uncertainty over global recessionary risks inflation, rising interest rates, currency
pressures, and the pandemic tight hangover of high government spending investors have been left hunting for a Lost Ark of opportunities while
hoping to avoid the odd Temple of Doom. And that's where emerging markets perhaps play a role.
My next guest pick these and as you can see, it's a very diverse bunch. But some have clearly shown resilience amid all the broader challenges. Mark
Mobius calls himself the Indiana Jones of emerging markets investing. He waited his knowledge to draw up a map of those investing picks. He's
pointed to Taiwan, India, Vietnam, Turkey, South Africa, and Brazil.
Taiwan, in fact, caught my eye in particular, its dominance in global chip making is a known fact. But of course, the geopolitics as we often discuss
on this show more precarious much to discuss with the founding partner of Mobius Capital Partners. He's also the author of the inflation myth and the
wonderful world of deflation. Mark Mobius joins us now.
Mark, fantastic to have you, welcome to "First Move"! We were just discussing before the break deep short term uncertainty, the Fed path,
inflation, and the strength of the U.S. dollar. All of these important inputs when you're investing in emerging markets in particular. What do you
think of the world? What's your view at this moment?
MARK MOBIUS, FOUNDING PARTNER & CO-FOUNDER, MOBIUS CAPITAL PARTNERS: For this stage of the game, of course, we're in a crisis as regards to the
inflationary situation in America. And of course where America goes the world follows.
MOBIUS: I mean, if the U.S. Fed raises interest rates and everybody else has the power unless they want their currencies to go down dramatically.
But the interesting thing that is in some of these emerging markets where you've seen incredible devaluation of currencies. It's provided an
opportunity for people like us, because we were able to go into some of these countries like Turkey, where you've had an incredible devaluation of
the Turkish Lira 80 percent+ against the dollar.
But were an exporter, people who do exports, time, Turkish Lira, and their income is in dollars. But generally speaking, I think we can expect the Fed
to have higher interest rates if the CPI continues to be at this level, because their playbook says, look, if you want to kill inflation, you going
to have interest rates higher than the CPI. CPI now is what 7 percent that means you going to have 8 percent interest rates. So I think people are not
looking at the real situation and taking it seriously.
CHATTERLEY: Yes, that's fascinating. There's so many important points in there the fact that we've seen U.S. dollar strength, which has meant
currency depreciation in a lot of these markets. It means perhaps the assets in these markets are cheaper, but to your point, and just to
emphasize that so my viewers understand.
What you're saying is if they're earning in foreign currency, but they're buying products. For example, in their domestic currency, then they're
benefiting from the relative strength perhaps of the U.S. dollar at this moment. Key to that continuation, of course, is what we see for the U.S.
dollar into 2023. What do you expect there? And of course, that's all tied too to, as you were saying what the Federal Reserve ends up doing.
MOBIUS: I think that again, depending on how high interest rates in America go because of the Fed raises rates more. There'll be attraction for people
to hold dollars. But generally speaking, I think the dollar, if you look at the dollar index has already weakened against other currencies around the
So I think we've had a run, usually markets run ahead of what is expected coming in the next six months. So I think a lot of these emerging market
currencies - stabilize, and in fact, some of them have actually got stronger. But that is the key point going forward, is what's going to
happen in the crypto world.
There's a lot of central banks, in fact, probably all have underestimated the impact of crypto currencies on the lower income people around the
world. A lot of people have been putting money into these crypto funds and crypto exchanges, because they've been promised 5 percent interest or even
higher. Now, of course, some of these companies are going bust so they can't pay back the money was the 5 percent is out the window. But the
important thing is that if the Fed raises rates more, then the attraction of these high interest rates offered by the crypto people will not be so
CHATTERLEY: OK, so talk about that, because I did mention in the introduction to you earlier on in the show about your concerns about
digital assets, like Bitcoin, for example. I think Jamie Dimon said, investing in at least the digital asset part not the underlying technology
was like owning pet rocks, he said this week. What do you make of that comment? I'm driving the crypto viewers here wild. What do you make of that
comment and just explain what you're saying, because I agree with you on the importance perhaps of monetary policy for crypto assets too?
MOBIUS: Well, I think his point is very well taken. I don't want Buffett has said it's like rat poison. And when people ask me about crypto, I
always say I don't like to talk about religion in public, because at the end of the day, it's a faith and there's a whole generation of young people
who believe what they see on the internet and what they see on their cell phones.
So I think there is a lot of people who are going to be sadly disappointed, because even if you look at the background, the block chain theory that has
a lots of false I mean, the idea that block chain cannot be hacked, just as not true. It has been the foundation of the whole crypto world is very --.
CHATTERLEY: We're just having a few reception issues, Mark. So I hope you can, you can still hear me too. There will be people yelling at the
television at this point. I can tell you're a deep skeptic. So I'm not think the point also that you're making is perhaps and I've seen you make
it before that limited supply and scarcity, which admittedly is one of the key proponents of those invest in digital assets like Bitcoin.
CHATTERLEY: You're saying look that's simply not a reason. It's just not a reason it's not an investment reason or justification.
MOBIUS: Exactly, you're depending on someone else coming along, to pay more than what you bought the crypto coin at. And of course, once these people
began to disappear as a result of FTX and all these other disasters. It was as a ripple effect around the world with these crypto assets. So that's the
reason why I said no crypto could go to 10,000. Bitcoin could go to 10,000, or even below, because there's nothing really holding it up other than
people's faith in the coin.
CHATTERLEY: Yes, your point about religion, I think at this point, it well made to tie those two threads together. I have to talk to you about Taiwan,
because I also talked about that in the introduction as well. I've seen you make comments about China, and sort of the valuation, relative valuation
opportunities here, but also that you're already an investor in Taiwan.
In the short term, I think a lot of people couldn't see even from the basis of the chip making progress that Taiwan has and other things going on in
the country that that make it an investment opportunity at this moment. But longer term, the geopolitics Mark, that the risk reward here for now is
calculated. How concerned are you about perhaps the future?
MOBIUS: Oh, that's a good point. I mean, this is one of the reasons why I'm worried about China, of investing in China. We have a little bit in Hong
Kong, but we haven't put anything in China, because if China decides to attack Taiwan, they will have a situation like we had with Russia, where
the U.S. will impose them and embargo. And suddenly, all the assets that you have in China are out the window.
They're going to be locked up; you won't have access to them. So that's one thing that worries me. So we decided Taiwan is the place to be, for a
number of reasons. It's a great country, great entrepreneurial people, you have the best of the Chinese there, in the sense that it's an open society.
They're very creative and then of course, the leader in the tech field, particularly in microchips. So what we've been doing is saying, OK, let's
be careful and invest in those companies that are doing the software for chips, because it's really a people business and these people can be flown
out and flown to California or anywhere else in the world if something happens. So that's sort of backup, but at the end of the day, Taiwan is the
place to be when we want to get the access to Chinese ideas and Chinese creativity.
CHATTERLEY: And for the Investors that are watching this, and it's not just about the short term, clearly a bit if you had to choose a market beyond
Taiwan, and now you've got a number on the list that you like for as an outperformer in 2023, despite all the challenges. Where would you go? What
would you suggest to people to look at?
MOBIUS: India, India, India, India, India is going great guns out there. One of the fastest growing countries in the world today and well, you just
have to look around America, and see who's heading up some of the best companies, particularly in the tech field, you see a lot of Indians. So
they've got an incredible brain power and, more importantly, the new government, the Modi government is digitizing the economy and really
embarking on a very intense technology push.
As you know, India now exports a tremendous amount of software around the world. Now, I think they're going to go into hardware; they will begin to
replace some of the manufacturing in China. As you know, Apple has already moved into India in a small way and I think that's going to accelerate
So India is really the place to be, of course, not necessarily just in tech, but in anything. Its a billion people, they're growing. They're one
of the fastest growing countries in the world today and they're going to continue to grow. So I think the long term future for India looks terrific.
CHATTERLEY: Yes, I think when we're talking about Asia, it's sort of a lazy thing to always assume that we're talking about China and one should not
forget that the size, the power, the breadth and the innovation taking place in somewhere like India as well. Mark, fantastic to have you on the
show! Please come back and talk to us soon. Mark Mobius there of Mobius, Capital Partners great to chat to you! OK, coming up the World Cup
quarterfinals kickoff in just around 30 minutes' time we'll take you to the Qatar for the preview right after this.
CHATTERLEY: Welcome back to "First Move". And on Wall Street, we're simply having a volatile Christmas time. U.S. stocks lower in early trade after
that worse than expected read on prices at the factory gate not encouraging news for the inflation fighting fed.
As we've discussed, December there has been a rough period so far for the bulls. The DOW on track for one of its worst performing weeks in fact,
since the month of summer, no time for Investors to take their eyes off the ball today except of course, when they're eyeing the football, the World
Cup down to the final eight.
And if you're nervous about the upcoming games, well of course I can relate but why wait for kickoff? Here are today's winners of yes; you guessed it,
the Chatterley Cup. Our special look at how the stock markets of the quarterfinal now tightens stack up in the match between the Netherlands and
Actually, it's Argentina easily taking the cup. The Argentina marvel has soared some 100 percent this year. Yes, you heard me, right. Thanks. I
think in part to that emergency IMF bailout deal earlier this year.
No Dutch treat for the Netherlands stocks down some 9 percent this year. And today's that other battle between Brazil and Croatia, the Vesper
clearly the victor up around 3 percent since January Croatia, down over 7 percent as you can see.
Tomorrow's matchups now we're talking include Morocco and Portugal, Portugal on top here at 3 percent rise versus a 15 percent Moroccan stock
market slump. And of course the heavyweight title she says between England and France, England scoring goals here whoo hoo as they will on Saturday,
of course she says. The footsie is up 1 percent year-to-date, easily beating the - down almost 7 percent.
Amanda Davies joins us now from Doha. Let's hope those stock markets are indicators of the results again, I shouldn't say that, but I did. Tell me
what's coming up today, Amanda. It's the South Americans versus the Europeans in the matches today.
AMANDA DAVIES, CNN WORLD SPORT: Yes, Julia I wish I was as full of confidence as you are. I have to say I'm playing it down; I am very much
playing it down. I've been here before. But no today very much building up the name when everybody's lives Lionel Messi as Argentina prepared to take
on the Netherlands. The last time these two sides met at a World Cup in Brazil in 2014.
DAVIES: And it was Argentina who took it broke the Dutch hearts on penalties in the semi-final. And that has led the Dutch coach Louis van
Gaal back in his third stint in charge of this team to say he and his side very much have a score to settle. Because looking ahead to that game, we
are basically expecting to see either the end of Van Gall's career on the touchline as a manager 71 years old, such a long storied history as a
manager in this game, or are we going to be bidding farewell to Lionel Messi perhaps the last time we see him in an Argentinean shirt.
I have to say the majority of the fans here in the suit this evening; they are supporting Argentina with the messy name proudly emblazoned on their
backs. Before that one though, we are gearing up for Brazil against Croatia of Brazilian size who have been supreme in their last couple of games.
There are sign that the Croatian coach Zlatko Dalic is describing as terrifying.
They have so many goal scoring threads across the board. Neymar of course knows that one more goal will see him tie that 77 record goals for Brazil
of the three time World Cup winner Pele all the thoughts with him still in hospital in Brazil.
He has been sending those messages to this Brazilian side from his hospital bed via social media and the team very much buoyed by the fact they expect
him to be watching on once again.
CHATTERLEY: Amanda, I've just been told no time for a follow, so clearly I'm going to not listen to that advice, but we have to be really quick.
England, Morocco can we do it?
DAVIES: Well, Morocco, everybody's favorite, newest team on. They received the phone calls from the King and the taking on a Portuguese side with some
disruption in the camp of things are to be believed in terms of Cristiano Ronaldo, they have the whole Arab world behind them.
As for England against France, Kyle Walker says that it's not just about Kylian Mbappe, he's not going to be rolling out the red carpet. England
confidence, I think of making it to the semi-final for a third major tournament.
CHATTERLEY: Good luck to all the teams, just a little bit more luck to England and Morocco in an unbiased way. Amanda, great talking --curb your
DAVIES: Thank you.
CHATTERLEY: All right, still to come on "First Move", we speak to Chelsea Clinton and the Director of the Global Fund, Peter Sands about the funds
record investment in tackling some of the world's toughest healthcare issues and how their work has already saved 50 million lives. Stay with us.
CHATTERLEY: Welcome back to "First Move". The fight to prevent infectious diseases like AIDS, Tuberculosis and Malaria has been going on for decades.
Together, these diseases still result in nearly 3 million deaths every year.
Now for the past 20 years, the Global Fund has been at the frontlines of the fight to eradicate them, raising money to help strengthen and support
healthcare systems around the world. Since its launch, the Global Fund has invested more than $55 billion and saving 50 million lives in the process
and cut the combined death rate from the three diseases by more than half.
The organization also works with a number of crucial partners, including the Clinton Health Access Initiative, which has helped scale and raise
awareness of health inequity in some of the poorest nations of the world. The two organizations together have also been integral players in lowering
the cost to treat diseases like HIV.
For example, at the beginning of this century, treating HIV cost over $10,000 per person per year. Today, treatment costs just under $50. Last
month, a global fund of partners announced it raised an astonishing $15.7 billion and its latest round of funding for the work to come over the next
Here to discuss is Chelsea Clinton, Vice Chair of the Clinton Foundation and the Clinton Health Access Initiative. And Peter Sands, the Executive
Director of the Global Fund to Fight AIDS, tuberculosis, and malaria. Chelsea, Peter, fantastic to have you on the show.
And I think all I can say at this moment to begin is Wow, actually, what an incredible outcome and impact. And I think both you and your organization's
are trailblazers for what can be done to tackle these huge healthcare challenges. Peter, I want to begin with you. It's clearly not the easiest
time to be raising money. But you did it. Just frame the challenge for us and who rose to meet it?
PETER SANDS, EXECUTIVE DIRECTOR, THE GLOBAL FUND: Well, this was Julia rollercoaster year for, a difficult year for raising this kind of scale of
money. But I actually think it's testimony to how much there for all the different pressures, there still is a spirit of global solidarity of people
willing to step up to save the lives, protect the communities, some of the poorest and most marginalized communities in the world.
This year, we raised $15.7 billion, as you said and we saw a number of countries really, really step up. So the United States took the lead both
in hosting the replenishment, but in increasing its pledge by 30 percent. But so too, did Canada, Japan, European Commission, Germany, Korea
increased by 300 percent.
So we had a range of major donors really increase their contributions. And it wasn't just governments, we also saw increased contributions from our
private sector supporters.
CHATTERLEY: Chelsea and there's two things for me where you're involved, I heard you wrote your thesis at university on the Global Fund. So it must be
an incredible feeling, I think to be to be working with them and achieving what you are now for health inequality.
But it's also about continuing the work that your father began after he left the White House and recognize that, at least in his part, he didn't
feel like you've done enough and more needs to be done for things like HIV. Just explain that and the work that you've been doing on this too.
CHELSEA CLINTON, VICE CHAIR, THE CLINTON FOUNDATION: Well, thank you so much, Julia. Yes, you as my father has said, repeatedly, he thought, kind
of one of the areas where he hadn't done enough where he had actually failed to lead is in the fight against HIV and AIDS globally.
And also to fight kind of all of the related health inequities that surround HIV and AIDS patients and people living with the disease across
the world, including here in the United States. And so I am incredibly proud of him that he didn't sort of wallow in that guilty instead used it
as a catalyst to think about kind of, what could he do with his capacious brain and heart and networks and leverage and platform to galvanize action
to really make a positive difference in saving lives.
CLINTON: And so more than 20 years ago, the Clinton Foundation started the Clinton Health Access Initiative to focus on trying to change the market
dynamics that you talked about in your introduction to shift what had been a high price, low volume dynamic in the market for anti-retroviral to help
treat HIV, to shift it to a high volume, low price dynamic, he believed it could be done and kind of by 2004.
So within just a couple of years, kind of the launch of both the Global Fund and the Clinton Foundation's HIV program that had really started to
happen. And so the price drops were pretty substantial and were substantial, not just kind of in one, one medicine, but in almost two dozen
to help treat adults and children and adults who had co-infections.
And that really set the kind of parameters and the kind of protocols for how we've been thought about our work over the next 20 years to try to
bring together similar to what Peter does at the Global Fund kind of different partners, from government from the not for profit sector, from
the private sector, who have a shared kind of purpose and a big ambition to help save and protect lives.
And so now we've helped negotiate well north of 100 different agreements on everything from pediatric HIV medicines to kind of hepatitis, tuberculosis,
malaria, for maternal and child health, child nutrition, and so much more.
CHATTERLEY: Yes, I mean, it's incredible. I think at the core of in many ways of what you're both saying is that you found a way to be incredibly
efficient about pulling the private sector together, the public sector together working on these partnerships.
And ultimately getting the money, the research the information, the intellectual property where it needs to go in order to make dramatic change
over the shortest period of time. And Peter just explain to me if you can give me an example of how this money is utilized?
And I'm sure as well, particularly in this day and age, the process that goes through vetting that, but also vetting where the money comes from to,
because I know for, for all donors out there and from anybody who gives money on a small or a large scale, ensuring that the money goes where it's
intended is also vital for, for that decision to hand it over.
SANDS: Well, I just arrived back from Malawi this morning. And Malawi is really good example of both the scale of the impact and the nature of the
challenges going forward. And to frame the scale of the impact when the Global Fund was founded, 20 years ago, life expectancy in Malawi was 46
That's how long people could expect to live for. Well on the clock, 20 years, life expectancy is 65 years in Malawi, so 19 year increase in
actually 19 years. And that isn't just an enormous amount of lives that's been saved. But it also transforms the nature of society, people have
grandparents, it makes sense to go to university because you've got enough level of your life to actually earn the rewards of going and having further
But, but the work isn't finished. And that's why we continue to invest in places like Malawi. It's still the case that too many, particularly
adolescent girls and young women are getting infected by HIV, it's still the case that there are children dying of malaria.
And in the poorest communities, you still see TB killing people, people don't perhaps realize it, but TB, tuberculosis will kill more people in
poor countries this year than COVID does. It's the biggest infectious disease killer in the poorest countries in the world.
Now, the way we work is we don't sit in Geneva and tell people what they should be doing. What we do is we allocate resources to countries and then
the countries themselves with the input of partners, including W.H.O. including Chad, for example, particularly on technical assistance and
access to cost effective products.
Working with partners, the countries determine the priorities and how they want to go about tackling these diseases and we work hand-in-hand with them
to make that happen. And the great thing is it does work. Chelsea was just talking about HIV.
HIV AIDS has been an extraordinary story of how to respond to a pandemic. Far too many people died, absolutely. But in the countries in which the
Global Fund invest some we invest in about 120 countries there's been a 70 percent reduction in AIDS related deaths since 2002 and a 54 percent
reduction in infections.
SANDS: So we can't beat these diseases, but it does require, it does require a partnership approach. You need governments, you need communities,
you need private sector, you need foundations, you need NGOs like, like Chad, so if we all get come at this together, we can actually beat these
diseases and save just a staggering number of lives.
CHATTERLEY: Yes, I mean, it's your point. I mean, that's a staggering statistic that tuberculosis will kill more people than COVID. And yet, for
all the focus that we've placed on COVID, quite rightly, over the past couple of years, but we have to keep these other diseases, front and center
of our conversations and understand that the work needs to continue and the money needs to be raised.
Chelsea, I have around 90 seconds left. I want to give you the final word for, for what the plan is, as you've said, enormous change over the last 20
years enormous progress, but much more work does need to be done. What are you going to be doing over the next three years?
CLINTON: You know, well, I think it's so important to recognize that COVID also wasn't the only story of the last few years when you think about --.
As Peter was talking about tuberculosis, I also was thinking about the fact that we did lose ground painfully lost ground against HIV and AIDS over the
last few years as people weren't able to have access to early detection to early treatment to prevention to keep themselves and their families safe.
And so the story to me is that we know progress is possible, we also can never stop kind of fighting HIV AIDS, tuberculosis, malaria, some diseases
that have been around for decades, some that have been around for, you know, hundreds of thousands, even millions of years because that's an all
of our interest.
It's in not only the interest of everyone that Peter was just speaking about who he had seen, you know, in Malawi, but we know certainly from the
last few years that our health is all interconnected. And so we have to, in my mind, recommit kind of more ferociously than ever to help kind of
protect, protect people from these infectious diseases, anywhere and everywhere with disproportionate focus on the most vulnerable and the most
That's, that's morally the right thing to do. But it's also kind of not only for solidarity, but really to help protect our shared global public
health. And so we're going to just keep doing all that we have done to continue to focus on HIV and AIDS will also be responsive to new
challenges, including COVID. And whatever else may inevitably come next.
CHATTERLEY: Yes, I think if we didn't learn in the last two to three years that anything like this is a global challenge and illness in one part of
the world impacts everyone, then perhaps we never will. Congratulations for the fund raiser. Thank you both for all the work that you're doing and we
will continue the conversation and track your progress. Thank you.
SANDS: Thank you.
CHATTERLEY: Chelsea Clinton and Peter Sands, thank you. We're back after this. Stay with us.
CHATTERLEY: Welcome back to the "First Move". And finally, who would you pick to go with you on a trip to the moon with Japanese billionaire Yusaku
Maezawa, who's already spent time on the International Space Station, has bought his ticket to for the SpaceX maiden voyage, and he won't be lonely.
He's invited eight celebrities and artists to join him.
They include a Kpop star and a friend of "First Move" too, superstar DJ Steve Aoki. Those are a few small wrinkles to iron out first. Their
spaceship is still in development, but it is hoped it could fly as early as next year. It's still building the rocket. I'll nominate myself for the
That's it for the show. If you've missed any of our interviews today, they will be on my Twitter and Instagram pages. You can search for at
@jchatterleycnn. As always, "Connect the World" is up next. Have a good weekend.