♪ >> coming up on "bloomberg best," the stories that shaped the world. central banks around the world. >> the dial turns about as far to the left or right as it will get. >> tightening is a ways off. >> once chair powell stepped to

the microphone he sent a less clear message. >> usa china come to the table but trade talks fizzle. >> for decades, china has taken advantage of trade. president trump has said we will fix this. >> the prime minister loses when it is him against the markets. >> the biggest week of earnings season with powerhouse companies reporting. >> better than expected cash flow which we have not seen for a long time. >> in the second half of the year things should pick up. >> we are seeing a little performance art. >> mexico's president speaks exclusively to bloomberg. he says interest rates are too high but he will not intervene. >> we trust we are not just going to grow but also to develop. >> some of europe's largest banks say it is high time or rates to come up. >> fundamentally negative interest rates -- >> not just for the future of

banks at stake right now. >> it is all ahead on "bloomberg best." >> hello and welcome. i am emma chandra. this is "bloomberg best." the weekly review of the most important interviews from bloomberg television around the world. let's start with a look at the top headlines on monday. chinese authorities in hong kong finally responded to antigovernment demonstrations going on for eight weeks. after a chaotic weekend of clashes between protesters and police. >> china has called for hong kong to punish those behind the violent protest. following an eight straight weekends of demonstration in the city.

>> this appeared to be an attempt to calm some of the fears that have cropped up over the last week that china could move to take more drastic action to calm the unrest we have seen. after they spoke people seemed to take a bit more of a breath. they didn't announce any imminent policy change. it didn't appear they were going to. stocks calmed down a little bit. this really looked like a move by china to say nothing is coming right now. what this means in the long run for the protest, we don't know. they are still planning to protest and opposition lawmakers say the comments made by china were disappointing. >> the bank of japan has left its interest rate unchanged but said it won't hesitate to ease if needed. >> look at those downward forecasts. how big were they?

from 1.1% this year to 1.0%, on inflation that is not a big , reduction. how about gdp? 0.8 20.7 -- to 0.7. through it all, the boj still seems to be signaling that they see and economy mostly on track. the time is passing to fiscal policy. at this point, the message is the dial is turned as far to the left or right as it will get in -- and there is not much more you can do unless things get really rough. >> shares jumped after hours as its revenue or cast for the current quarter beat estimates. what are the key takeaways? >> apple demonstrated a little bit of growth. it is pretty much flat for the third quarter. it is barely an all-time record for the third quarter. that is good news given that apple has had a significant declines in recent quarters. we saw them pushing the narrative around the strength in wearables and services.

that is a fair point. however those two product lines , are very much tied to the iphone. if people are buying fewer iphone, these services will not work. that is the conundrum in place right now. once apple starts coming out more frequently with designs, better futures for iphones, those two things will mesh together and it will turn somewhat positive. matt: china in the u.s. have kicked off a new round of trade talks in shanghai today. it follows a three-month hiatus in renewed accusations from donald trump that beijing is trying to rip off america. the u.s. president lashed out on twitter. he says there has been a promise to buy more u.s. farm produce but there is no apparent progress and said they just don't come through. >> china says they have come to the table. they are willing to buy more u.s. farm goods. obviously they have their own redline. they want the u.s. to come to

the table with concessions for huawei. these are sticking points from both sides. it would be critical to see what kind of movement comes out of these talks in shanghai. >> trade negotiators left early today with neither side feeling like they made much progress after president trump set the stage by accusing the chinese of ripping off the united states. the chinese after the fact saying the united states would have to show sincerity and good faith before anything could get done. >> the pressure on both sides to get to a deal and hurry up if you will is not there anymore. the real priority was running through the issues, seeing where both sides are and deciding on what the path is. the good news is it will talk again and meet in early september. the trade war is on hold. it will keep trundling on for another month at least.

>> the fed we are counting down , to a decision, investors looking for the first rate cut in a decade. >> they cut its basis points 25, it ends the balance sheet two months early. nothing explicit but investors may see a hint about future rate moves. his reputation of the language about uncertainties of the economic outlook remain. >> they are sending the signal that we have more rate cuts to come. they will point as they always do to data dependency is keeping -- which is keeping the expansion going. >> we are thinking it in the midcycle adjustment policy. >> fomc decision and the statement that came with it read relatively dovish. once chair powell took the microphone he sent a less clear message. he talked about this as being a

midcycle correction but then he walked it back to some extent only to talk about the possibility of future rate hikes. >> the dow jones industrial average swung, the most since january 4, 2019. the second-biggest swing in the dow jones industrial the year. >> it closes down more than 1.2%. we are seeing the worst day, the biggest move in the s&p 500's may 7. we are off by 1.1%. >> we got the rate cut but not clear why or what was next. you saw that reflected in equities and bonds and commodities and the fx face. >> bank of england is keeping rates on hold. mark carney says the risk of a no deal breaks it. -- brexit. >> u.k. economic outlook will hinge on the withdrawal. the appropriate path for monetary policy will depend on

the balance of the effects on demand and supply for the exchange rate. >> what you think the next move will be for the central bank, a rate hike or cut? >> i don't think he knows, i don't think we know. that will depend on what happens on the exchange rate. we have seen strolling -- sterling weaken a lot. that reduces the likelihood of easing. they are getting it through the exchange channel and increases the odds a little bit of tightening. i do not think those are high. i think tightening is a ways off only if the currency fell out of bed and they have an exchange-rate crisis. >> president trump abruptly escalating the trade war with china saying he would have -- a 10% tariff on the $300 billion of imports that are not subject u.s. duties. >> -- president trump: the 10%

is for a short-term period, i could do more or less depending on what happened the respect to a deal. >> yesterday, the white house put out a statement that the trade talks in shanghai just concluded were constructive. for them to turnaround hours later and say we will raise tariffs caught a lot of people by surprise. >> the s&p 500 up by 9/10 of a percent. did think we are up more than a percent -- percentage point today, how a tweet can change all of that. >> for decades china has taken advantage of trade versus the united states and versus countries in asia and southeast asia. it is time for that to stop. president trump has said we will fix this. to fix this requires determination, i think that is what you saw this morning. the president is determined to

achieve his outcome. president trump: until there is a deal we will be taxing the hell out of china. that is all there is. [applause] >> if these tweets become policy on september 1, taxes will be going up on u.s. can -- consumers as well. >> our view is any impact on u.s. consumers is a skill. -- minuscule. we think the economic burden on these tariffs has fallen most heavily on china. they had to slash prices to offset tariffs. that has damaged their profitability and growth. i really think in terms of the american story, our economy is quite strong. unfortunately, in terms of the china story, i think their economy is quite weak. >> counting down to the july jobs report. estimate of 165,000 jobs to be added. >> economists nailed it. and000 jobs graded in july

unemployment changed at 3.7%. >> a lot of ongoing uncertainty. i keep coming back to that. 164,000 new jobs created. that is on pace with the year to date trend. had beenown from -- we seeing job growth over 200,000 coming into the year. i think we are seeing some evidence that companies are getting a little more cautious on both the investment side and the hiring side. it is a direct result i believe of the uncertainty that they face. still ahead as we review the week on "bloomberg best" much more on monetary policy. the mexican president says he wishes his central bank would go with a dovish flow. the ceos of a major european banks speak about hedging the financial sector and the global economy. next, investors spent the week poring through earnings reports.

highlights from the results. >> we have a machine writing lots of cash day in and day out. >> this is bloomberg. ♪

emma: this is "bloomberg best." i am emma chandra. a whirlwind week for earnings. closely watched results from tech, energy, and financial. credit suisse was the first of several major european banks to report. >> credit suisse has wealthy clients at a 9.5 billion swiss francs in new money in the second quarter. the main trading units also outperformed peers. i spoke to an executive and started asking him if credit suisse could compete with american rivals. >> i think in the main

businesses where we generally measure, for a second quarter in a row we could come out around the top of the table. i think that is a good performance compared to u.s. banks. >> bnp paribas has outshone his rivals in fixed-income training. the lender is ahead of wall street and european peers. we accelerated -- >> we accelerated our transformation plan. on that acceleration that we started to see the benefits. in fixed-income, a pickup and a strong contribution in the first quarter which was confirmed in the second quarter. equities, if you look in the second quarter they remain still a bit lackluster. we had on top of that a strong quarter a year ago. that is the dynamic. yes, we feel comfortable about the exhilaration of our transformation plan is bearing

fruit. ing has been estimates with underlying pretax profits in the second quarter. coming in at just over 2 billion euros. it did missed estimates on net interest income. >> do you expect net interest income to still keep being under pressure given the lower for longer rates environment being signaled by central banks globally including the ecb? long butll it low for you could call it negative for long interest rate environment given where we are now in the cycle and i think we're looking in terms of other strategies beyond what we are doing now to mitigate that particular impact, diversifying for example our business to non-eurozone country and better operational efficiency and more digitization of processes and customer journeys. indeed more pressure from savings margins. has reported aei

23% rise in first-half revenue to just over 401 billion yuan. $58 billion in today's cheat exchange-rate. -- in today's exchange rate. that is as the privately held telecom giant tried to withstand u.s. efforts to curb its business. the company says there is difficulties ahead. >> talking about a 23% sales growth which sounds impressive but is down sharply from 39% pace seen in the previous quarter. >> remember huawei is a private company, it does not have to report financial details the way publicly held companies do. you are seeing a little performance art. huawei is coming out talking about what their financials are. because they want to signal that they are still growing. they want to signal it will fight against u.s. sanctions come you a -- sanctions, u.s. blacklisting and continue to supply customers as best as he

possibly can at this point. >> samsung electronics sees a second half recovery in chip demand amid net income numbers beating expectations. a bit of a mixed picture when it comes to mobile numbers and chips. >> the big story has been the industry challenge in the chip industry. they have been facing lower demand from these data centers as well as lower demand from the decelerating smartphone industry. but we are seeing some shift. they say in the second half things should start to pick up. this is all good. on the smartphone front facing challenges and huawei is a double-edged sword. even if they benefit from smartphones they could struggle from component sides with slower sales to huawei. >> general electric shares rising today after second-quarter earnings topped expectations. the manufacturer gave better -- than expected as its long-suffering division showed signs of improvement. this has been a turnaround

story. what signs did we get today about turnaround? >> we have heard nothing but bad news out of the power division for two years. today we saw a minor, modest, organic growth. we saw better than expected cash flow. which we have not seen for a long time. they paid down another settlement. they raised cash by selling a small state and it -- small stake in a division. things on both sides are starting to budge to the positive. >> bp has bucked the trend set by other european oil companies last week. cash flows reached $8.2 billion in the second quarter. the highest since late 2017. the iea has the oversupply next -- is predicting a big oversupply next year. are you concerned with global growth issues, are you concerned about oversupply? >> a lot of uncertainty in the market.

we are planning bp around the $55 per barrel. you have big downside issues potentially with venezuela, iran. a lot of uncertainty there. crude coming on and supply. chinese demand, right now, the first half of the year a little bit of softness in demand but it is coming up. hard to predict but we will be fine. 's quarterly profits has missed estimates after the price slump. despite weaker than expected earnings shell will continue the $25 billion buyback program. >> predicting a big oversupply next year and numerous signs of a slowing global economy. will those things converge into a lower oil price next year? >> there is a number of factors at play. i do not think at this point in time it is the long-term fundamentals at play when it comes to the oil price.

it is much more sentiment and shorter term aspect of fundamentals. what we are seeing at the moment is a weakening of the macro environment. a slowdown, a trade war. all of these effects have a direct effect on the growth of oil demand. and also on the sentiment around it. >> rio tinto's shares take another hit despite the first half strong results. and announcing a special $1 billion dividend thanks to a e rally. from an iron or >> we have the machine writing lots of cash day in and day out no matter the market conditions. the track record is a testimony of that. the outlook is very important. the key market, china, the outlook is positive. as expected the chinese economy

is slowing down. i have no doubt in my mind they will put a stimulus package in play. therefore the demand for steel will continue to be very strong. ♪

emma: you are watching "bloomberg best." . i am emma chandra. this week, bloomberg editor-in-chief traveled to mexico city where he sat down for an exclusive interview with the mexican president. he says interest rates in his country are too high. he helps mexico's central bank will bring them down to stimulate growth -- he hopes mexico's central bank will bring

them down to stimulate growth. >> one thing is what is to be desired and another is what is possible. i would like the central bank to not only work on controlling inflation but to think about growth as well. >> we are talking about what the central bank is doing. they are more cautious about inflation. this is not a bad thing. no. this is not the wrong thing to do. i'm not saying that. but it is important to lower the rate to encourage growth. this is an issue i am leaving for the central bank to decide. because we trust we are not just going to be able to grow but also to develop. not only growth but development because growth, that is what we

want to change. and to create . -- and to create new paradigms. growth is creating wealth. not necessarily distributing wealth. development is growing and distributing wealth. our administration and government, what it is setting us up for is distributing income. so then, although growth is scarce, little growth, there is a better distribution of wealth. that is, there is more well-being. emma: you can find much more of the interview with mexico's president on bloomberg.com. and coming up on "bloomberg best" more compelling conversations. the ceos of some of the world's biggest banks weigh

in on a challenging rate environment. companies like huawei singled out for sanctions by the u.s.. 's chairman speaks exclusively with bloomberg and says that is backfiring. >> i think the damage to the u.s. suppliers is even bigger than it is to huawei. emma: this is bloomberg. ♪

emma: welcome back to "bloomberg best." i am emma chandra. huawei is dealing with the fallout of the trump administration's effort to curb its sales with growth slowing considerably in the last quarter and their chairman spoke exclusively with tom mackenzie this week on their compass and discussed how the company is

coping with the u.s. restrictions. u.s. do not know when the will make a decision on android and when that decision will come. we have to make preparations for our products. we will evaluate our strategy for the overseas market, if we do not use android for a new smartphones, we have the davila -- we had our ability to develop peraing system an ecosystem that will become the basis for the services into the customers. >> how fundamentall to mitigate some of these rushers, have you completed those changes or is there more to be done? >> the entity list put into place by the u.s. was disruptive to our supply chain as we had already made plans to use the components from the u.s. for our business by u.s. suppliers stop supplying us and we had to

make adjustments to our supply chain including process of purchasing, manufacturing, and delivering products. we will do the adjustments to our supply chain and change to other suppliers and use our own ships for the core components. >> the damage to the u.s. suppliers is even bigger than it is to huawei as we will have to increase our work load and manage continuity internally but the damage to the u.s. supplier is direct as they lose a customer. if the u.s. removes huawei from the entity list, that would be a solution. >> what impact do you see more demand for your 5g equipment given the u.s. pressure campaign on some of its allies around the world to block access to huawei? >> although the u.s. has been launching a campaign among its allies, it is up to each country to decide his partners based on its own development demands, telecommunication demands, and carrier infrastructure construction demands.

there may be some impacts in australia but there are others we are willing to work with -- others willing to work with huawei. of europe's largest banks reported earnings this week and their chief executive spoke with bloomberg about the larger economic picture and the challenges facing the european financial industry. let's start with credit suisse ceo who said dovish central banks have been a drag on the sector. >> they do not make life easy for us. particularly negative interest rates are a challenge. we have different interests, our revenue, we are pleased because transaction revenue is up strongly. mentioned reactions we took towards the end of quarter one to make sure transaction revenue would go up in quarter two and if you take it, results have been strong, 20% return on

capital in switzerland. interest andcome recurring. estate, that makes sense because when interest rates are negative, investors look for yield which drives up asset prices and it is not a bad idea for us to dispose of some but not a long-term answer which is continue to work on the deposit side and we are going to take measures in august 2 translate our pricing and protect net income interest. negative interest rates are not good for banks. ultimately we hope that will be corrected. it was a good reaction to the crisis but coming out of it is politically challenging. encouraged by the

recent communication of the ecb saying they are considering something like this because i think they understand that if it lasts long, it can impact profitability, that means the ability of cost to invest in digital transformation. the ecb cannot just look at this very far and should look at something like this, other countries have done similar, taken similar initiatives. situation has become counterproductive? >> not just the future of banks at stake, beyond it is the question of the economy. i do believe that we have still certainly in europe very accommodative financing conditions. i feel if there is a slowdown in the economy, at least more related to macroeconomic or

macro political elements which creates uncertainty and i am not sure that a change of interest rate would deal with that. we will see what the ecb will do and what the fed is going to do going forward. on our side, we are confident we can adapt to the environment. >> do you think the trade war is a big responsibility in this slowdown of the global economy? >> today i think there is a mixture of things, certain things like the risk of a trade war or brexit which creates uncertainty. and then you have more specifications in certain sectors, i have in my the automotive industry where it is a mixture of structural issues, transformations related to the climate change, perhaps a weaker market in china. it is a mixture. which effectively means a slowdown of the economy.

we remain pretty positive in france, ine u.s., china we have a 6.2% gdp growth. insee potentially a slowdown 2020 without a catastrophe. -- but not a catastrophe. >> how much to worry about the italian banking landscape? we cannot beat worried at all about the italian banking situation which is under control. i think that today probably it is much better to be worried about other banking systems, german or probably in the next year some other players with a lot of -- francine: something ugly in the german banking system, would it

impact that? >> not at all. the point is we are benefiting from the italian clients and increase 60 billion euros in six months our deposit bases and what we are seeing is also it move from other players into our deposit scheme, especially the private banking division and we are considered by the people annal rich opportunity compared to the big players. ♪

emma: this is "bloomberg best." i am emma chandra. the top stories in business, finance, politics. boris johnson's first full week

was anything but quite as is exit brexit stance gave a downward jolt to britain's currency. cabinet holding the first meeting with ukip prime minister saying it will gather every day to make sure the country leads the eu on october 31. brexit this weekend and brexit.p this week in >> it is the messaging, a domestic message but also a message to the eu and also to the u.k. hopeful trade partners beyond brexit. there is a consistency since boris johnson has taken office that it will be much more determination to prove that the u.k. is ready to leave in october, whether there is a deal or no deal. >> 122.58, what a move in sterling today, relentless move lower and slower incrementally

we think more and more about a no deal brexit. >> we have gone from a position where we were not pricing anything to now something, a no deal brexit and a general election looking more likely in the financial markets. >> boris johnson is standing firm on his threat of a no deal brexit which is how the pound plunged to its lowest in more than two years with the u.k. primus are calling for the irish backs up to be correct. could this convince for us johnson to put a no deal off the table -- boris johnson to put a no deal off the table? >> history tells us prime minister's lose when it is prime minister's versus the market with the history of black wednesday. there is a pain threshold and if they pound plummets below $1.19 the idea is that boris johnson would have to reverse his position but so far his rhetoric has given us the instability that that will not happen and a

lot of what he is about is proving that he is serious about no deal and the only way to do that is to drive the pound down. >> japan's factories took a hit from trade tensions and a global slowdown with industrial production falling 3.6% in june from a month earlier, the first contraction since march. , ar on year basis down 4.1% contraction for the fifth consecutive month. >> a good reminder of external pressures facing big exporting global like japan with growth hardly growing this year and no sign it will turn around anytime soon. one positive a economists point to is perhaps ahead of the new sales tax issue in october consumers may go out and buy goods and stock up in a last-minute rush to avoid that sales tax which will have a support for the manufacturing sector but nonetheless i would have to say the external story is bleak, not just about u.s.

and china and we now have japan and korea tensions with the global economy continuing to slow. often drugerges is unit with mylan as generic drug stocks come under pressure from pricing in legal headwinds. do you like this deal? a pfizer it from perspective because it takes a business that is a drag on their earnings and margins, a drag on top line growth and puts it into another entity. i am pleased they are doing it. >> the big word is scale, it allows pfizer to put these drugs into a vehicle and combine them with my lens generic drugs and that business together will have more scale to compete in an environment where there has been brutal pricing pressure particularly on that industry, so it gives them more power to push back on pricing and broader geographic reach. the london stock exchange group shares soaring the day on

the back of the $27 billion takeover of the multimedia news agency. this feels like plan b. after otherto go exchanges and they did this, why is this great? >> a mega transformation and their investors may have analysts beat because it is a megamerger. transform which will lse as an infrastructure player. lyft,executive shakeup at their chief operating officer is leaving the company after joining last your from tesla. he served as president of global sales and service for tesla. the founder say they will not hire a replacement. why is he leaving? >> that is a very good question. we do not have the answer but it is an intriguing situation as he did not even last two years and in one of the most high profile

positions in the company. we note in the story that john mcneil's predecessor who came from amazon also did not last three years. aboutare questions whether they could sustain somebody in that role and i think it may be telling they do not plan to hire another coo. >> bloomberg has learned that citigroup is preparing to cut hundreds of jobs at its slumping trading division with the latest bank taking action following a rough first half for wall street. >> this is a serious move by citigroup. people familiar with the matter say hundreds of jobs across trading desks will go away, that includes maybe 10% of the equities trading desk. this is a serious move because citigroup has serious problems on the trading revenue side. much like the rest of wall street does. for the first half, if you take

out a one-time gain, citigroup revenue from trading fell about 5%. all of wall street is seeing this trading decline and citigroup is responding with these hundreds of jobs being cut. >> turning to capital one, shares are sliding after revelations that a tipster email exposed a hacker responsible for a $100 million -- 100 million person data breach. they admitted to collecting social security numbers and names and dates of birth and capital one customers on twitter. what do we know about how capital one is responding? >> it is a fast response, especially compared to other companies we have seen breached. capital one made an interesting note in the statement, saying it could have happened if we were on cloud or still using the old physical data centers. they said it was because they move a lot of their technology to the cloud, after they were loaded they were able to

diagnose the problem and respond quickly. they were the leader in terms of adopting this technology and pushing other banks to do the same. we will see if they get pushed back to that. >> china is raising the pressure on taiwan, suspending a program that allows individual tourists from 47 cities to travel to the island. the ministry of culture and tourism says the ban is effective from the start of august and means chinese nationals can only go to taiwan as part of two or groups. taiwan has an election coming up, how much do these moves have to do with that? they do appear to be timed perfectly to coincide with the election and relations between taiwan and china have been in a deep freeze for three years when beijing cut off direct the medications with taiwan after the election -- communications with taiwan after the election of their president. this latest move is just the

latest measure from beijing aimed at putting pressure on taiwan and the taiwanese economy from china. we have seen an increase in the number of military patrols around taiwan. tourists looks like it coincides perfectly with the election in january. fourcond round of debates democratic presidential hopefuls has concluded with the candidates continuing the attacks, especially towards former vice president joe biden. >> like they turned him into a political piñata. vice president joe biden performed better than he did in miami. device have emerged but 20 plus candidates running, the next debate is september 12 in houston, texas, the threshold increases with more difficult for some of these candidates to qualify and that is what i'm

watching over the next 48-72 hours, the polls matter because they factor into whether you qualify for the threshold. and it matters in terms of fundraising. postingon and exxon better-than-expected earnings today thanks in part to the oil output surge in the permian basin. and oil headed for a week of the clients posting its biggest one-day drop in more than four years on the back of donald trump's terrorist threats yesterday. >> the good news was the production numbers, both that are in the permian basin which is where they were focusing on more, these are big oil companies that missed the boat on the permian the first time around and coming in with a lot more money and a lot more projections for growth going forward. where they missed, the revenues overall are down year on year because of the oil price dropping in the first and second quarters of this year. ♪

>> isn't this figure for jerome powell because it this is the worst a market surprised looks it is really came -- tame. >> you see what the s&p 500 did while he was talking. >> we are asking the question, will jerome powell insurance cut kill off the everything rally? join the debate on your bloomberg. emma: they are about 30,000 functions on the bloomberg and we enjoy showing you our favorite on bloomberg television. maybe they will become your favorite. here is another function, quic go where you can get important context and fast insight into timely topics. here is a quick take from this week. beijing's airt

quality looks like this. 2013, the air quality was deemed unhealthy or hazardous for over half the year, peaking in beijing at 35 times the world health organization's recommended limit. it was so bad that the premier declared a war on pollution at china's annual high-profile national people's congress. five years later in march of 2019 as the premier again opened the meetings, the small cow side was still 10 times worse than what the who defines as healthy. even as china cracks down on pollution like never before the country remains one of the world's polluters -- worse for leaders. china overtook the u.s. as the world's biggest source of greenhouse gases in 2006,

helping put the globe on a path to miss united nations targets aimed at stemming the rise in the earth's temperature. >> cheap power from coal and sheep factory production that is powered by coal has helped china turn into this economic giant that has helped produce cheap goods for the rest of the world and helped drive the world's economy. chinese people are paying the tax inbreeding this bad air for the benefit of consumers over the world. >> the who estimates more than one million chinese from dirty air in 2016, another study puts the tally even higher, at 4000 deaths per day. pollution is said to have been the main cause of social unrest in recent years with social media amplifying complaints. on china's twitter like online blame factoryle for polluting the air and the government for not doing enough.

2015, a chinese investigative journalists published a self-funded documentary about the country's air pollution problem. more than 100 million people watched under the dome before it was banned from chinese video websites six days after its release. xi jinping shortly after unleashed an iron hand to punish environmental polluters. in the last few years the government has spent billions tightening environmental regulations and scrapping coal power plants and switching millions of homes and businesses from coal to natural gas. >> the regulations and policies have worked, the u.s. state department monitors matter in the air in its beijing embassy and the recording show that 2018 was the lowest level in a decade. 2018 orer of 2017 and some of the best as far as her quality, not perfect but much better than the heyday of the

2013 pollution problems. >> china is now the world's in big -- biggest investor in green energy spending over $100 billion in 2018, 56% more than the u.s. and they should this have included supporting the electric vehicle industry by providing and helpingr buyers build infrastructure that allows electric cars to drive and charge around cities. china, thee huge in biggest market in the world for electric vehicles and not just cars electric us is our a huge deal in china -- electric buses are a huge deal in china. >> solar energy, over a third of solar panels are estimated to be installed in china by the world on pollution promises to be a long one with for decades of breakneck economic growth have turned china into the world's biggest carbon a mentor and will depend on coal for years to

come. ♪ of many quick one takes you can find on the bloomberg and you can find them at bloomberg.com with the latest business news and analysis 24 hours a day. that is all for bloomberg best this week. thank you for watching. imm at chandra. -- i am emma chandra. this is bloomberg. ♪ hey! i'm bill slowsky jr.,

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♪ >> president lopez over door -- asador, also sometimes known amlo