♪ carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly. here at bloomberg headquarters in new york. carol: coming up in this week's issue, a question. can the republican party survive a trade war? jason: we also look at the complicated relationship, to say the least, between vladimir putin and donald trump ahead of the big summit next week. carol: but we begin with our global cover story about tesla. jason: elon musk has made a lot of promises to investors and customers. can he live up to them? carol: building a car turning

out to be pretty tough. jason: amazing. here is max. max: tesla quite famously for the last year and a half had been kicking the can down the road on its goals for its model 3, which is the mass-market sedan. carol: $35,000, but -- jason: $35,000 the average. max: selling price for a car in the u.s. is somewhere around $30,000. $35,000 for the base model. it is the least expensive model tesla has to offer. there is a ton of demand for this thing, and yet, tesla has not been able to produce these in the numbers that they wanted. that has kind of led to this weird, bifurcation which has happened, in which you have tesla bulls who believe in this company and the electric car aficionados, and you have a lot of people in the auto industry saying this is crazy. i mean, they are losing tons of money. there is no hope to get this

thing out, and everyone was looking at this 5000 car goal, which tesla managed to hit at the end of last month. jason: and this story really takes us inside what it is like at the company, which to say the least, is a unique culture. max: yes. there were four reporters who worked on this story, led by tom randall, who had access to an array of tesla designers. he talked to 20 of the key designers and engineers on the model 3. and i think what comes through, and also what came through in the interview with elon musk that is part of this story, is this is a company that is working just incredibly hard to push to this goal. and the goal is to, you know, to solve global warming, to get gasoline cars off the road. that is something he believes and is willing to sleep at the factory, to not sleep, to have serious emotional damage.

and he kind of seems to expect that of his workers. and that is something that is a little weird for a company that is worth $50 billion. carol: let's go through it. there are employees who talk about timed bathroom breaks, right? max: yeah. yeah, yeah, yeah. and i think to be fair to tesla, we should say that it probably happens at other companies. carol: that's true. max: but there are employees who bloomberg spoke with who talked about timed bathroom breaks, about conditions in the factory that are really intense in terms of, you know, of fires, and even, kind of gross to bring up, but raw sewage, and people pushing through all of it in order to hit these goals. and i think, you know, from the point of view of elon musk, he would say, this is important. this is what we have to do.

on the other hand, you have workers who do not feel that way, who feel this is a pressure-cooker. as tesla becomes a real car company, you would expect that they would start to mature. and i think the big question, you know, and the question that probably animates anyone who cares about this company is, can they do that, and how close are they to doing that? jason: and what is it about a car company that is different from other businesses? a rocket company, a tunnel-digging company. what is it that has been so difficult here? what is it about cars? max: yeah, one thing we key in on is rockets can basically be manufactured by hand. and i think, there are machines, but this is something where the factory is putting out may be dozens a year. that is if it is really on fire. where someone like elon musk, who is famously a hands-on manager can literally probably

go down the line and make sure things are ok. cars, when you are talking about a big mass manufacturer on the scale of toyota, you are talking about one car coming out every minute, and that is what tesla wants to compete with. and we are talking about machines that have the last for a decade. they have to withstand incredibly difficult conditions. they are lethal weapons. and so, if you screw up, people die, and they are regulated as lethal weapons. and consumer demand, consumers are demanding and away i don't think nasa or the federal government is, about quality, about price. carol: it is a big purchase for most americans. max: exactly. it is the second biggest purchase people will make after their homes. so, you have all of these things that make this a really difficult dance, and one that tesla is learning, but they are maybe not all the way there yet. jason: creative director chris nosenzo joins us to talk about this cover.

it pops, a really good one. how did you get there? chris: thanks, guys. we were talking about the story, and they were telling us cars were hard for elon musk to make, and there was this irony that his other venture, spacex, has been a good business for him. we took that idea and brought it to the cover. carol: i love it. it is so simple, but it does pop up at you. chris: with a cover like this, we kind of refined what the right photo is, what the right languages, and get it to really hit you quickly. jason: you distill it down. you talked about this theory of the "businessweek" cover, that simplicity wins the day. chris: yeah, definitely. and we really try to focus on the idea and let that thing bubble up to the purest form of itself. and the design and the language comes together to make that happen. jason: up next, the connection between trump and putin, and

what to expect from their upcoming summit. carol: plus, were a trade war might hurt the most inside of the united states. jason: this is "bloomberg businessweek." ♪

♪ carol: welcome back to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly. you can also find us online at businessweek.com. carol: and on our mobile app. opening up the magazine this week, we got a preview of the july summit between donald trump and vladimir putin. jason: we compare and contrast the two world leaders, arguably the two most important world leaders on style and on substance. carol: they agree on some things. other things, not so much. jason: marc champion puts forth the idea, are they natural partners? here he is. marc: in one way, it is an unrequited relationship so far. and donald trump has had a

fascination really for vladimir putin for some years. these two men are really partners. allies would be the wrong word, but they are partners in that this culture war going on across the developed world, in the u.s., in britain with brexit and the populist leaders, and buries european countries. but this is a trend across, and putin is very much on the side of the populists. he is very popular with the populists and the conservatives. but he also set up a similar story. there is a sense that he has a lot more in common with putin in the way he sees the world than he might have with angela merkel or with the fridge president emmanuel macron. carol: that is going to scare the other nato members at this point.

marc: i think it does because they are still not quite sure what trump's strategy is, what his vision is, whether -- the greatest fear is he simply wants to destroy some of these institutions that have been around for, you know, 70 years or more. that he doesn't like the e.u., that he doesn't like nato, that he doesn't like the wto. all of these institutions that they have sort of built their economies around and international relations around for decades. and they don't know this. everything that his government actually does, his administration does, isn't necessarily an line with what he says and tweets. in the case of nato at this summit, the u.s. is busy drawing up conclusions and things to do, which have very little to do with what trump has been saying. and yet, they are concerned

because they can since increasingly over the last year, it has become clear to them that he has much more in common in his sort of gut reactions with someone like putin than he has with the more liberal leaders. and you saw this in the g7 recently, where he had a mighty bust up with people like trudeau in canada and with angela merkel, and so on. jason: what is it about putin that is so fascinating to president trump, in your estimation? marc: before trump became president, and 2013, putin gave a very important speech. it was a speech that really would be very, very familiar to a lot of the debate that is now going on in europe and the u.s., where all the cultural right, very similar things are staked out and said.

on that score, you can say that putin is on a similar line. and there is a more difficult element, where i think you do have to -- it is more of a question of your own analysis of what you see and not really anything that is of the record. but there it is, you know, if you of what strategically these different leaders want to do. jason: in the politics section, carol, the cost of retaliation, we look at how these retaliatory tariffs placed on u.s. exports are affecting farmers and other folks right here at home. carol: right. you have to remember, we have canada and mexico, the european union, and china all fighting back against president trump's trade policies. jason: and ultimately, it is a

political story. this will be a huge issue as the midterm elections approach. here is matthew philips. matthew: you can look at july 6 as the fort sumter of this trade war, where the tariffs went down, china retaliated. just the other day, the president retaliated again with $200 billion of tariffs, 10% on $200 billion for the chinese goods. so i think, it is not crazy to say that we are in the very early stages of a trade war. jason: and this is a trade war that is not just between the u.s. and china. the president has been in europe this week, both in brussels and the united kingdom. obviously, those countries are affected as well, so it is global, but there is a domestic-political aspect to this, and that is what you go into. matthew: that's right. for the thesis of this story, and the question josh green wanted to address with this is

the u.s. economy will survive this. it is the biggest economy in the world. the hit will, depending on how long this goes on, will be significant, but it is not like it will push us into a recession. the question is, can the gop survive this? given its roots as the party of free trade, and also given where these tariffs are going to start to hit hardest and first, and places like the farm belt and the automotive valley and the energy corridor, that is core red state trump country. jason: and there was something that really jumped out to me, which was all the way down to the congressional district level, where this is really hitting home. this is trump country really been directly affected here. matthew: as these tariffs start to course through these local economies, especially in parts of the country where it is a one-industry town, it is not want to be trump who has to stand up in september, october,

november at these town hall meetings and talk to these voters. it is the house candidates, all of these down ballot candidates, at a time when their party has really put their arms around trump as the party of trump. it makes for some very difficult explaining that a lot of these, some of these candidates and politicians are going to have to do come this fall. carol: i feel these political candidates have had to do a lot of difficult explaining on a lot of issues. president trump has come back very strong on immigration, in terms of his tax policy. we know the wealthy are really benefiting, corporations are really benefiting, but this is different. matthew: this hits workers and industries right in the wallet. i mean, say what you want about immigration, it is a broad issue that has been toplined for the past month or so. but trade is different in a lot of ways because it hits people in the wallet.

carol: up next, china's most powerful trade weapon is its own consumers, and that could backfire. jason: and we look at china's effort to build 150 silicon valleys, part of the war between beijing and washington. carol: this is "bloomberg businessweek." ♪

♪ jason: welcome back to "bloomberg businessweek." i'm jason kelly. carol: and i'm carol massar. you can also listen to us on radio on sirius and on a.m. 1130 in new york, 99.1 fm in washington d.c., and a.m. 960 in the bay area. jason: and in london and asia on the bloomberg radio plus app. in the business section this week, collateral damage in the global trade war. carol: right. we have to think about chinese actions against american brands

that could hurt the mainland partners. jason: it is quite a twist. jim: unlike the u.s., where we have a trade war and we say that is bad, in china what they normally do is whip up the public to sort of boycott the products of companies from countries they don't like. and in the past, that has been very detrimental to companies that want to do business in china. china is the largest market in the world. everybody knows that and everybody wants to do business there. you don't want to upset the chinese populace. beijing tends to use that as a negotiating chip. and so, that has happened before with south korea. we use in the story an example of a retailer that has 99 superstores in china. and when they got into a territorial dispute with china, all of a sudden, the chinese media, which is state-controlled said, it is patriotic not to do business with those koreans. so what happened for the first

time in 16 years, they ended up reporting a loss. they also ends up eventually having to sell its stores in most of china. carol: that is a lasting impact. jim: there is a lasting impact, and people forget that it is a different kind of markets, and people respond very well to the push of the public. jason: but for american companies, it is a little more complicated. jim: it is a little more complicated because the american brands currently have either sold out or have joint ventured with chinese companies. someone china tries to use that lever that has been successful in the past with japan and korea, what will happen when they do it with the u.s. is they will boomerang back and hurt the chinese and the sense that company five mcdonald's. mcdonald's now is a minority owner in its stores there. instead, a chinese state-controlled company owns most of the mcdonald's. ditto for disney.

you hear about shanghai disneyland. it is a huge place and big on drawing chinese tourists, but that is also owned by a chinese consortium with disney as a small minority partner. carol: isn't it ironic because that is what china demanded. you want to set up shop in china? ok, but it will be a joint venture. jim: everybody goes in with a partner, and a partner, besides getting rich, the partner is also able to earn your business and maybe take your ip. who knows, you know? and that is a great way for them to develop, but in the meantime, a lot of the leverage they have gets watered down. if they lean on american brands very hard, they hurt their own state-controlled companies. carol: in the economics section, we focus on a chinese city. jason: this is a city that is part of a massive effort by the chinese government, a bunch of high-tech zones they are creating. it is huge. carol: nanjing is going head-to-head against silicon

valley. cristina: this is a city that twice in history used to be china's capital, but became a runner-up to places like beijing and shanghai, but has now emerged as a new tech hub. we looked at it as an example of cities. 156 tech dedicated special economic zones in china. carol: 156? jason: and an amazing amount of money being poured in by the government. this is not just a private sector effort. nothing really is in china. right? this is the government getting behind it in a massive way. the scale is breathtaking. cristina: it is. right now, we pulled the figures on venture capital, that doesn't the government money. in the year to date, we are running at $60 billion into chinese startups. in the u.s., we are at $44 billion. so, it looks like china may overtake the u.s. in venture capital, and part of that --

jason: that would be the first time? cristina: yes. part of that is money being funneled from state governments. but there are subsidies of every kind. i mean, in nanjing, they are telling investors, if you put money into a startup and you lose it, we will make you all. jason: wow. wow. that is a totally different playing field been. cristina: it is not just industrial policy, it is something the world has never seen. carol: it has only been the last couple of decades that china has moved into the technology sector. but today, some of the biggest tech companies are chinese tech companies. cristina: alibaba is among several of the world's biggest tech companies are chinese. those are publicly-listed. and you know, startups, you have a company like ant financial, which is worth $150 billion. i mean, unicorn is not even a name you can use. we should use dragon, right? [laughter] carol: exactly.

jason: you heard it here first. cristina lindblad, nomenclature. cristina: the government is backing these companies, giving other investors in china and the world, you know, they are almost like too big to fail, at this point. carol: this is such a reminder that they are done being the manufacturing center of the world. cristina: they want to be done. carol: they want to move big-time beyond manufacturing, so they are pumping all of this money into artificial intelligence, semi conductors. they want to be leading not just domestically, but globally in these interest rates. cristina: electric cars, a lot of ai is part of the effort. so, you know, a lot of people say when the scale of these investments are involved, it is in a global -- it is inevitable that they will incubate some world-class players. the problem know, there is one big downside to this. we have seen this movie before

in steel and solar, in which china created huge capacity intro prices down for everybody in the industry to the point were several chinese companies were on the verge of bankruptcy, and had to be consolidated. so they are dangerous for sure. carol: to illustrate the momentum of chinese companies, let's bring in taylor riggs to take us inside the bloomberg terminal. taylor: it is a story behind the numbers. so, come to my terminal here. this week, we are looking at america's tech comeback. we are doing that by normalizing it back five years. in white, i have the chinese technology etf's. that tracks the china technology stocks. and in blue, this tracks the american big tech companies. now, you can see in white, chinese stocks were outperforming a little bit. then they underperformed and since the election of donald trump, technology stocks in china have outperformed again. there were some concerns about the trade rules and if they are blocking investments between

chinese and american companies what that would mean. interestingly though enough, since the trade were really started to break out, american companies in blue has started to outperform. we will take the hit makers, for example. there is not a lot of supply from the american companies, yet there is a lot of demand from china. so, china needs these chips that the american companies make. that makes investors still bullish on technology companies. carol: just a reminder of the importance of chinese companies and their overall market. jason: up next, rio tinto offers a glimpse into the unique risk and rewards of doing business in china. carol: plus, move over quinoa. peru has a new superfood to share. jason: this is "bloomberg businessweek." ♪

♪ jason: welcome back to "bloomberg businessweek."

>> rio tinto is one of the world's largest mining companies. -- china.s come we are talking about vast quantities. hundreds of millions of tons. they ship up from australia to china. these deals that were happen back in 2000 eight in 2009 were a huge dollar value. the stakes are very high. tensions began to rise. the episodes in serious trouble. as you say in the story, relationships are good. all of a sudden, it was not good, what happened? >> the main pressure point was selling -- toas china, in annual benchmark

price. the prices stayed the same for a year. during that time, it was a booming time. -- fore market price the. they sold it at below market price, making a chinese profit. they went to move away from that system, people in the chinese industry realized it would cost them a lot of money. carol: a big element of your story is when things start to go wrong between rio tinto in china. they involved in spying chinese authority. in 2008, rio tinto became concerned that it had been hacked. it was confirmed enough to go to the british spying agency. yescompany was told that indeed, if communications are not secure. the countries who is accessing emails, confident of documents, and phone calls, with china. the story tries to follow what

impact that had on the company. jason: one of the things he point out and as i read it, any executive who is doing anything complicated in china and elsewhere, cybersecurity comes forward in a big way. told,ly was rio tinto they're looking into their communication in every method, it felt like they were friendly countries monitoring them as well. what i think sent a chill of the spine of any ceo trying to understand how to do business heard. >> i think the reason that the other states could see what was coming out of rio tinto was the position of the chinese breach. other states are monitoring what the chinese hackers were doing. do not see any evidence that other states were specifically

targeting rio tinto. is, these --int understood that there is such a thing as military hackers. it is understood that emails might be under threat. in 2008 and 2009 it was a different time. the issue was not understood and not taken as seriously. we are here the editor-in-chief of bloomberg businessweek, so much of the magazine this week. talking about china and trade. >> if you could take the biggest themes of the year and packet into one issue, we did it this week. trade war. it has been a rhetoric, it is reality. we tried to do the front lines of the trade war in china and the u.s., we showed with the data looks like at the places. at that level, it was artie happening and will amp up to the point of one of the stories as in the terms get closer.

that is why we get the politics out of it. ast is the repercussions china puts -- that will directly affect trump space. that was the point that. taking a closer look at that. as we approach midterms, it will be part of the story. carol: news about elon musk in tesla opening a facility in china. could take the themes of europe put it in writing, the most important business or of the year is elon musk and the model three. everyone knows that elon musk is a entrepreneur. makinghis match in the of a midsize sedan. this was a guy who is able to space,fully launch into and what his trip them up as making a car. boils down to this, a do

or die moment to make this car. he hit the numbers. they hit that. now he has many thousands more to make. potentially in china, at a time that tesla is burning through cash. on the horizon, we have a bunch of new entrants into the electric vehicle market coming out with the electric car. they wouldn't really be happening without elon musk. carol: up next, from arkansas to manhattan. have bank of america became one of america's top construction lenders. jason: supersized $2 trillion value of the repose -- carol: this is bloomberg businessweek.

jason: welcome back. i'm jason kelly. carol: i'm carol. you can also find us online and on our mobile app. jason: in the featured section, we discovered a bank not many people have heard of. bank of the ozarks. rock: it is in little arkansas, making a name for itself a construction lending. jason: getting a lot of attention from its competitors on wall street. kind ofe -- is the person who makes new yorkers click slackers. he is one of the more hard-working people i have ever met. he talks a lot about working 80 hours a week. he mentioned that they did not wake up at don to write his bank earnings report, he will cap at midnight my he was on the road after a busy week. this is somebody who really finds his identity and is bank grow making his in making a grow efficiently. he can name eight metrics of the top of his head, including

efficiency ratio and return on assets. he keeps a scorecard of those in his pocket of where the bank ranks. according him, a rank of top. jason: depend on your perspective, he is able to out hustle all of these rival bankers or he is done a lot of not orhat they would should it do. tell us why he is grown as fast as he has. >> and his talent, the things started in 2003. it is a real estate union in dallas. it continue to grow. , and manageownturns those well. a couple of things stepped away cap the brakes. brink --a lot of other banks got bad loans. 2016 when was in other banks had just received a

warning from banking regulators time them that there were some risk bubbling up in commercial real estate. and at the regulators are be watching the situation. they jumped in at that point. they decided it was time to take the market state and develop relationships with some of the or whetherlopers there is risk that the bank didn't recognize. tell us where he is today. lender in thegest night stay to the construction of residential and commercial real estate. this is not a household name. that is something we talk about. this got has become a giant. >> it is amazing. it is the kind of thing you would not expect, if you think you is the largest lender to construction, these neighborhoods going up around

the country. the largest construction lender is a relatively small bank in arkansas called bank of the ozarks. sauce,what is the secret when you dig into this and he descends vigorously, his underwriting in the way that they go about their diligence around projects, which they do? really manages the risk at all phases of the project. they talk about how we have more asset managers and more services look at the loans. they're looking at construction , warning the developers about potential problems with the construction. that some banks stay away from this area, there is the risk that the project is not sell. there is a downturn in the market by the time the development opens, the sales to support the project. story,even reading the

and hearing about these big towers in miami and new york city, you do have a natural reaction back to the financial crisis. and a law of investors developers really lost their shirts. he does not seem to worry. >> no. , banks gett is that into trouble when they follow headlines. he trusts in his own underwriting and his own underwriting is based on looking at population growth, job growth, household formation, really down to the neighborhood. that, over time, his approach will be proved right. people will be word about -- are just looking in the rearview mirror. carol: in the -- section, saudi iran gets a public offering. jason: and massive deal that may not happen.

10% of the world's oil also pays for the saudi state. carol: some the questions about the -- and will have a republic? >> it was two years ago with saudi arabia's prince sought out to announce human business. the saudi iran co is the crown jewel. it produces 10% of the world's oil. wanted to sell 5% in global markets. a big sovereign wealth fund. that meant a big payday for wall street. it was seen as one of the biggest deals for our generation. two years later, it appears to run to the family. it was meant to happen this year. they went into 2019. they said it would be nice to have a 2019 the timing is not.

more people we have spoken to who were close to iran code, some people are start and question whether it will have a -- a couplem thinking, years ago i would never have thought we would have had all those words together. we are talking about it might happen next year, maybe later, or maybe not all? >> a couple of things have changed. -- timetable has been laid lay down was ambitious. the biggest problem we had was evaluation. when he announced the idea to the $2he conference, trillion evaluation the company. there were no trillion dollar companies in the world yet. there was always a big ambition. while no one disagrees it is a company, most people who crunch numbers based on oil

prices and how much oil saudi betweenroduces, somewhere between 1 trillion and 1.5 billion. wally herger the government has been unwilling -- and the evaluation. that is one reason why they are headed for the long grasp. jason: was the connection between iran code in the decisions around oil prices? how they play with just? shift ine seen a real a policy here. i think it is fascinating and tells us summon about where the iba is. in the first quarter of the year, they were seen very handy. prices have been rallying steadily. besides take effect, global stock prices were changed. in the first quarter, we were

happy to receive prices. there were happy for the market to get tighter. they got to 18 and wanted a higher. donald trump intervened and he started tweeting and used his no, we do nott -- have high oil prices. it is putting too much strain in the american consumer. we have always had a very anti-opec attitude. prices rise tot high. we need to see more production. saudi arabia has a very close little relationship with trump. what we have seen as a very quick change in saudi oil policy. which have kept a lid on prices to some extent. it is also another reason why investors -- saudi aramco, who is setting , the business goals benefit of all shareholders, or

are they in fact set by the saudi state? with the next agenda in mind. -- both issues were highlighted by donald trump's intervention. jason: the ceo of leveling the playing field by credit unions and big bang. carol: peru has a new superfood. jason: this is bloomberg businessweek.

carol: welcome back. jason: you can also listen to us on the radio on sirius xm channel 119. and on a.m. 11 30 in new york. one of 61 in boston. 90 19 fm ndc. london, and in asia on the radio plus app. jason: this week carol:'s game

changer is --. the ceo of the national federation of community development credit union. jason: combining technology and community credit union, and big banks. when he a got carol: was mayor of new york city. is organized union as financial cooperatives. the idea behind a credit union is that everybody who deposits there is a member, a shareholder, and an owner. when you think about what we do, taking this fabulous structure and putting it at the disposal of low income communities, a crate selling the ability to deliver really high-quality products and services, but it is empowering the entire community. mainstream credit union have evolved to let the traditional banking sector.

organizations like ours are dedicated to taking that structure of the credit union and bringing him back to low income community. jason: talk more about the whichng of the big banks play an important role that sometimes people are intimidated. had you take the best of that did implemented on a community level? >> we work with a lot of big banks. we had a lot of investors that will give us large deposits or large investments. in our memberat institutions around the country. we really fit into that credit gap. that small dollars loan credit that. our competitors are not banks. they are creditors, high cost financial service providers. -- are really are

about as that taken this model of a self-sustaining financial institution to make it available to those of most modest needs. technology is a big part of that. carol: i set credit unions have been around for a long time. you, and the story that we write about this week, talk about the importance of technology and processing software. tell us about how it takes it to another level. technology provides us the opportunity to leap frog over some of our traditional obstacles. unions, the challenge to grow has always been, how do you build enough of a base of to be able tosets scale your service delivery? advent of financial technology, we can do a lot more remotely. a lot of people are moving to mobile apps, mobile banking, a law of loans online,

what we are doing is saying how to take this technology, and use it to leapfrog over some of those. carol: uses a happening in emerging markets. we skipped a big financial world and go right to your mobile phone. if how they tap into the financial world. it sounds like that's what you're doing credit unions. >> the revolution globally has really come up for the first time, opened the door to financial inclusion and financial access for millions of people. we have not seen that happen as much here, what we're trying to do is take the power in the tool of syntax and bring it to admission of financial inclusion. talking about the latest superfood of peru. avocados, açai, all the super foods at your local market. >> the new superfood which is look among. jason: what is it? you've heard of so

many foods, they're so much buzz about it, it is a new one. avocado and aan mango. it is orange, has the shape of an avocado. it has the texture of a squash. yet, it is so good for you. as you said, peru seems to have the ability to deliver super foods to the world because it is a combination of the andes mountains and the amazon. a lot of crazy things grow there. it is the newest thing we are seeing. carol: does it taste good? a i wouldn't advocate taking plane. it is hard to taste it wrong. it is surprisingly delicate. it spoils almost as soon as it comes off the tree. jason: it sound like a dr. seuss book. how do you consume it? it, at walmart.

or you can find it at whole foods. usually it is frozen or powdered. i have it at my local health food store. i'm sure everybody can find it in their health food stores. it is really easy to use. throw into a smoothie and we are seeing and a lot of juice places. it is also a popular ice cube flavor. jason: what is it due? >> everything. carol: it is like a multivitamin. in think, potassium, carotene, it is good for your skin and your blood. it is good for fertility. peru. a long history in carol: how come we are only now hearing about it? >> people in peru are saying it is time to get the word out. they have all of these

fantastic, fresh fruit stands and juices worried they use it a lot but they have been really bad at getting the message out. carol: bloomberg businessweek is available on newsstands now. jason: and online and are mobile app. about ourove talking china coverage, it reminds us of the amount of money and time and effort the chinese government is put into developing its technology. specifically, silicon valley. citiess about 156 creating many silicon valley's in china. jason: that was just one of the stories that -- between china and the trade war. i have to say, i love saudi aramco, this is the deal that everyone has been salivating over for two years. i just bank is but the private equity guys in all those others. carol: we're talking about a zombie ipo never happening. jason: more bloomberg television starts, right now.

tom: and we say hello. "bloomberg surveillance" from our studios in new york. thrilled you're with us worldwide. it's a july of great interest into the summer of great interest. and we thought we would go a little bit deeper here in what's going on in international relations. there's no one better to do that with then ian bremmer, his eurasia group where he is president and founder. and we're thrilled to bring you robert kaplan from the center for a new american security and also senior adviser to the eurasia group. is this the first time you two have been on tv together? are you doing this weekly?