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Rusal CEO Oleg Deripaska weighs in on the economy, the state of his business in China and the efficiency of central banks.
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We told you earlier this hour JPMorgan CEO Jamie Dimon he would not playing defense simply -- -- -- stable.
Talking about going after people who want more regulation on big banks this all this happened -- adopt -- at the world economic form.
The refuting call suffer more regulations saying that if we have the right kind of rules in place for the banks no need.
For more regulation no more on all of this from Liz Claman talks to mr.
diamond that will be tomorrow in our coverage from Davos but right now -- continues to bring us.
Some of these important names all week from the World Economic Forum she's live with more -- Well -- -- Jamie Dimon tomorrow at 10 AM eastern right here on Fox Business we're gonna go at each other I'm sure I mean look.
He is always outspoken it's always a fascinating interview stay tuned for that.
But yes greetings from Davos Switzerland -- home -- Of great Swiss chocolate cow bells and the World Economic Forum yes in this tiny Swiss ski chalet village.
Turns from that two of course that intersection of big global ideas.
Right now we're on the roof of the Congress Center where it's all happening below me we -- going live here in Davos Switzerland all week long.
And we kick off -- broadcasting with a little international intrigue.
A man who has very big ideas but speaks very calmly and quietly some column.
A Russian all -- -- we column -- -- Derek -- got the CEO Bruce all the world's largest aluminum company.
First the entire globe.
And to it but we we below -- so come -- -- not and to.
-- you can't -- -- -- him based on one year one cool -- you know you we have some you know except relative.
Who knows there is a -- improvement.
And I concede to be worse but no substance resist -- we ever almost -- In the five years when people you know try to spend less you know on the investment citizens' right to strike lesson on -- and now it's time to spend to just.
And the relative.
Aluminum is used in a lot of skyscrapers obviously and cars of let's get your opinion on and on skyscrapers -- -- think about that I think about China and there's the China question of whether China.
Has stabilized its drop in growth whether it is now muscling up a bit of.
What what do you see with your business into.
China very stable in this they have transitions of it's it's very important -- it.
This has come through which run bush strong leadership strong -- -- and quite developed London's system.
And we have -- transition.
To let's say it could take another.
And nine months before -- really change in as a team before wasn't really an -- you -- -- -- I would.
I would I want.
Very cautious tried to judge risk based on -- -- a number of what's their future frozen next in the five he has do you think central banks.
Many of which around the world are piling in with support.
In the form of quantitative easing as we call -- in the US or some type of liquidity to think -- hurting more than helping.
-- to function as a safe there helping him.
They sit in us.
Because people say that there masking the real problem and that when they finally -- way that support we might see the real picture.
Let's make sure fed will never -- Jenna wants us to produce a more efficient car.
-- that we -- treasure it's.
Clear its management.
Engineers -- And government people but rates have enough -- news should be better trends in the should be.
Provides a better opportunity to to what more efficient.
Not the Fed its intellectual.
Ingenuity at the companies themselves and efforts and efforts in the week you know we we need to.
And really compete -- Asia and not just here is not just -- chemicals and Russia all.
Economists should not should should they accept payment not in nation we have been a great platform.
Very developing economics and the rich will not -- -- all of -- You know.
When I said I was interviewing -- some people said oh the Russian oligarchs I know you probably bristle a little bit by that term or maybe not I don't know.
But -- People have a vision of very wealthy people in Russia I look at them say you know at least in in your case have thing started as -- metals trader.
And now being involved on on a grand scale very much so.
Where do you most want to do business is it with the General Motors of the United States or is it.
In the eurozone which is is down but certainly not out.
I purchased in -- to goodness.
I don't care about.
Labels Politico them saying -- -- -- support them up but.
I think more important is.
-- know what you could.
Really to you know important as a business in the we have went to a potential around civil and the US actually -- a conceit is that you just tremendous.
Improved tremendously.
You -- and -- new and engine.
Environment fuel electricity.
You wouldn't believe but electricity new risk -- -- it was cheaper than rush.
That makes -- so I would think that everything is expensive and Russia because it's maybe not developed enough I mean -- -- that we have very high cost of capital and number we have been consistent steel in the process of development and we have.
Almost monopoly and mean and -- -- right -- -- for small medium sized business.
-- -- 12% of of course it's not easy to grow.
So we think we have about -- America there's still and be on behalf of Russians to do business like Americans do let's just put it into a little bit of perspective also you know all -- Russian oligarchs they -- sports teams.
Well I asked him do you want to own and be like.
The I'm too busy -- I'm too busy what do oligarchs do predicament Connell let me tell you something they throw.
Some really amazing parties at their cost to having an event tonight -- seven top Russian violinist all playing stradivarius violin take coming up in the next hour.
We have the envy of the world's health care and that is.
Toby Cosgrove the CEO of the Cleveland clinic but I asked him my turn it on its side I ask him.
Which hospital to you and me the most in the world.
Which one do you look at and say man they are doing it in an unbelievable way.
We are live all day long from Davos Switzerland and stay tuned for all of our reports we'll see you later.
Thank you take their taxes do you see -- -- thank you very much was claim in in Davos.
