taylor: i am taylor riggs in san francisco and this is bloomberg technology. turnedup, after an app the iowa caucus into a disaster, nevada says it will be going low-tech. we will look at how the start of the u.s. presidential primaries became such a mess. plus, we got the first real look at how disney's new streaming service is faring. can it compete with netflix? and the white house adrift with

huawei in that global race to deploy 5g. we speak with mike rogers, former chair of the house intelligence committee, about all things national security. january's u.s. employment report came out and the economy added 225,000 jobs. tole wage growth surprised the upside, it is still lagging. the expansion peak reached in february of last year. female unemployment rates rose as well. here to discuss more, amy schultz. heretake a look at a chart that i'm showing inside my terminal. wage growth finally getting a little bit of a boost here. techare you seeing within relative to some of the other sectors? >> i think we are seeing fairly consistent wage growth compared to the other sectors. jobs in the,000

u.s. in january. i think that step is coming at a time where we have just released our report. surveyed thousands of talent professionals globally and combined that with insights from our over 660 million members to really help leaders and officials understand what they need to know to get ahead when it comes to hiring and retaining talent. taylor: before we get into the hiring and retaining, another thing has been the gig economy. what have we learned recently within these numbers about contract workers and the gig economy? amy: gig economy now is essentially part of our normal economy. with the different generations we see in the workforce, we now have all generations working for the same time. millennials want to

have their side hustle as part of their normal job. we are seeing an increase in the opportunity for contractors to get work. the gig economy is sort of part of the normal talent landscape at the moment. taylor: another statistic i wanted to mention. if you look at this chart, the female unemployment rate finally rose. it is now up to about 5.2%. what trends are you noticing within diversity, both female and gender diversity? amy: the multigenerational workforce was one of our key trends this year. diversity inclusion is a top priority. seeing, withinly tech, we know that we have a way to go. now 53%din, we are female. i think we are seeing progress

within tech, but it is perhaps not fast enough and still needs a lot of focus and attention. taylor: hiring is one story. retaining that talent, a much different story. what trends are you seeing within tech? amy: as part of our global talent trends report, one of the key trends is internal hiring. for the longest time, we felt we needed to go external to find the skills needed. but now companies are recognizing that there is a lot of commercial value in going internal. companies within tech that are prioritizing internal hiring are seeing their employees stay 42% longer. taylor: what do millennials want? this is the age-old question. flexibility in the workplace, work from home, basic salary increase, what trends are you seeing? z areillennials and gen

prioritizing that worklife integration. they are very purpose driven. i think that has prompted companies to think about empathy for the first time. companies will see really starting to prioritize empathy, which means a greater focus on employee experience. i think that companies are now thinking about experience beyond day one, thinking about everything an employee touches, interacts with, while they are at the company, and companies will also see greater retention. i think millennials and gen z have prompted that. taylor: it sounds a little bit like fluff, but does that translate into happier employees which stay longer? amy: absolutely. retention,ink about

that means a commercial impact for a business. there is a significant cost in that. actuallyngly, we've seen a 2.4% increase in employee experience related to jobs on our platform. taylor: fascinating. amy schultz, thank you for joining us on this pretty good jobs day. while democratic presidential hopeful pete buttigieg may have grabbed the lead in iowa delegates, there is still frustration over that disastrous app used in the caucus. chairwa democratic party blamed a coding issue and is calling for an independent probe. the shadow ceo claimed the data and collection was accurate. the nevada democratic party has announced they will no longer use any apps in their upcoming caucus. joining us to discuss is alan snyder. dying to ask you this question.

how didn't app like this get through to the iowa caucus without being thoroughly vetted? >> thank you for having me today. that is a great question. it is clear and we can see that a lot of the basic best practices that would go into building the app were not followed. that is an excellent question that a lot of folks really need to answer. taylor: what are some of those best practices that you would recommend? app: all we do is mobile security. we focus on this with the largest brands in the world. see we look at it, we can it looks like they picked a developer that had not developed many mobile apps. that is strike one. we can also see there is way too much complexity in the app. then from the security

standpoint, there's just some basic, fundamental best practices that we would recommend. guide that they didn't follow that we would expect for such an important app such as this. taylor: who at the end of the day is in charge with this? if you are working with a politician or another corporation, someone who would curious,ou, i'm just who thought this was a good idea? alan: i wish i knew the answer to that. when we look at it, our view is that it is the individuals that own the data that need to take responsibility for this. at the end of the day, regardless of who developed the app, it is that data that needs to be secured. that is the most valuable asset. tot owner, that is who needs

take a hard look at this process. taylor: the homeland security department said they had offered to test a lot of the vulnerabilities and that offer was declined. how often are you or some of the apps that are involved in this working with the security department to make sure that your process has been vetted? alan: we work closely with many government agencies. we work with government standards. we are very involved. we had a meeting the other day about how we can advance mobile security and mobile app security further from where the standards are. in -- a big part of our company is in washington, d.c. and we think it is really important. we typically see folks don't -- they assume that mobile is the same as other apps. that is a very bad assumption.

wondering, if the iowa democratic caucus came out and said they thought it was a coding issue, the app said it was just a load issue, how do you solve whether that is a coding issue or a load of information issue? our research team has taken a look at the app and it basic,like it was a very simple app to us. there was complexity that made it difficult for people to log in and use the app. there may have been a load issue, but this is where you come back to best practices. all of that should have been tested in advance. systems can easily handle that load. that is not the issue. it is the testing of it to make sure that when you need it, it is ready to go. taylor: are there any ramifications that you can draw

from this week intertech playing a larger role in the election process? does this show that it perhaps isn't a good idea, or are there ways to make it secure, you just have to go the extra mile? alan: there's ways to make it secure. we have worked with several vendors that are doing very secure voting apps. this was not one of them. we are big proponents of mobile apps. we know that it can work. it can add an enormous amount of value to folks that may be our overseas and need to vote. so we know tech can actually enrich the voting process when implemented correctly. and it can be done securely. and we work with several vendors that do that. taylor: alan snyder, thank you for joining us. and a reminder that we will have special coverage of the new hampshire primary on tuesday,

february 11. and coming up, analysts aren't convinced that disney is a true competitor to netflix. we talk all things streaming. and if you like bloomberg news, check us out on the radio. listen on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪

taylor: want to bring you some breaking news, more data out of china related to the coronavirus. a province is now saying that 81 corunna deaths have been

reported on february 7. an additional 2841 cases on february 7. now the total confirmed coronavirus cases has risen to 24,953. the death toll rising now to at least 700. we will keep you updated on this virus. earlier this week, disney reported strong subscriber numbers for its streaming service. analysts say it is not the competitive risk it may appear to be for netflix. ince disney plus debuted november, netflix shares have outperformed disney. we are joined by dallas warren. this the streaming wars. i'm wondering if it is not streaming versus streaming, but cable versus streaming. dallas: i don't think it is your traditional war. i think what is interesting are

the actual battles that are shaping up. what we are seeing is the distribution battle and the advertising battle. the distribution battle was on full display when we saw the numbers come out. we saw disney just blow all expectations out of the water. iger announced they added half a million new subs every week of 2020 since then. taylor: so disney wins on distribution. dallas: but we saw that netflix messed for the third quarter in a row. they have a good story internationally because they have no competition. we are seeing disney move into india and europe sooner than expected. taylor: the content battle, who wins that? dallas: disney owns the capital. netflix has some real headwinds in content. minutes are 10 spent watching licensed content. all of that content will be

leaving to places like peacock, nbc's new channel. at the same time, you have new entrants like quibi with thousands of new shows coming out. apple launching $2 billion in content. netflix has a real content challenge. taylor: everyone says that original programming is what is so expensive. there have been estimates that netflix spends $15 billion to $20 billion on that programming. having those shows, is that not better so you don't have to spend on original programming? dallas: the challenge is, those shows are leaving. they are being pulled off of netflix's platform too behind the pay walls of peacock and viacom. they are going to have less access to that licensed content and have to rely more on this

incredibly expensive content. is,challenge for netflix they basically have to have a witcher or a stranger things every week because the average person watches the show in five days. taylor: the third prong is advertising. some of the concerns with apple and disney is the lower price. they are priced for growth. you substitute that with advertising. who is winning that? dallas: the consumer actually wants an advertising-based model. subscribers are advertising. the three key leaders in the ku has a strong advertising play, disney is very smart, and hulu had a model. dataast entrants are the players, those helping

advertisers understand the ecosystem and how to enter advertising. taylor: you mentioned hulu. my producers and i have been talking about this. there's been this shift to cutting cable. hulu has that live tv experience. comcast is tied to peacock. you have cbs all access. wars within live tv the applications? dallas: youtube is doing really well. i think hulu is in a very unique position. if you think about the bundle, go back to disney, already today in the united states, espn plus, hulu, and disney plus, they have more subscribers than netflix in the united states. advantagee positional hulu will have puts them in a strong position. taylor: dallas lawrence, thanks

for your insight. ceo in brings in a new hopes of turning itself around. a real estate veteran will face a very different challenge at his new company. we will have details next. this is bloomberg. ♪

taylor: we work named its new ceo. he took shopping mall operator ggp out of bankruptcy in 2010. he was also ceo of brookfield property partners retail group. itsork has been remaking management team. softbank's, it added -- as the first woman to the board. i'm joined by the senior research analyst, barry oxford. the key for me is that the new ceo is a real estate veteran and

not a tech veteran. does that give you insight into how we should be evaluating this company? >> absolutely. i've written reports about we 's struggles. i feel this is one of their first positive moves. they've been through a couple ceo changes. you hit the nail on the head when you say they have a real estate person and this is a real estate company, but this is not a tech company with a real estate gland. this is real estate first. i think he is the person to lead this company. taylor: what can you glean from his previous work within turning around some real estate companies, pulling them out of bankruptcy, that you can now glean forward? barry: sure. again, he has the reputation and

credibility to get investors behind him. he does have softbank. they can -- taylor: barry, do we still have you? looks like we lost barry. barry, can you still hear me? barry: i can hear you, taylor. taylor: perfect. continue to talk to me about sandeep's background, what you are learning from him. barry: not sure where i left off, but being the ceo of a public company, bringing them through some very hard times in the and 2010, i think he's person to lead this company. i don't think it is a 2020 event , but i think sandeep is the person to bring this company public. he has the reputation and

credibility with investors. i think softbank has funded enough money that they can complete what is needed to be done. once a lease is signed, you kind of crossed the rubicon and you've got to move forward. islor: his first day february 18. what should be his number one job on day one? is it getting out of unprofitable businesses, focusing on the ipo? what would you like to see him do? ipo has to be the fifth or sixth on his list. number one is getting out of some of these extraneous businesses, kind of unwind those, generate whatever cash you can for those businesses. get back to the crux of what , temporary lease

spacing. that is what is going to make this company successful. it is also what sandeep knows and understands. taylor: what is the new fair value for wework? barry: that is a good question. i still am going to say it should be worth around eight or $9 billion, but i'm working off of old numbers. i haven't seen kind of a new filing with new numbers. but i don't think there's reason to think that the valuation from the last time has dropped substantially. and hopefully with sandeep and stuff, it will start to creep upward. like i said from the last time i did it, i don't see a reason to change those numbers substantially. taylor: barry oxford, always a pleasure to get your insights. coming up, mike rogers, former house intelligence chairman, on how the u.s. can win the global

race to deploy 5g. this is bloomberg. ♪ sometimes your small screen is your big screen.

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: the trump administration wants to develop a cohesive 5g policy but there has been disagreement on how to get there. attorney general william barr dismissed a new white house led effort to build 5g using homegrown equipment and says the government should work with nokia or ericsson to counter the threat of huawei dominating the next generation of networks. for more, we are joined by mike rogers, the former house intelligence chairman. thank you for having me. we talk about the 5g race. what is winning the 5g race look like to you? two: where huawei, zd,

chinese governments are not winning a dominating the market. china wants data dominance by 2025. in order to accomplish that, they understand the need for building out these networks. the government of china has invested in rnd, all government investment in the next generation, as well as financing deals. zero down, zero payment for three years. we cover all the buildout and engineers. no western company can compete. we should be asking ourselves why do they want to do that? it is really to control data as it moves through those tunnels. taylor: should we investing in our companies the way beijing has been investing in their 5g networks? mike: attorney general barr had an interesting take which is nationalize a foreign company for u.s. interests. i'm not sure -- they are a western value company, nokia and ericsson. those of the companies we want to compete and win contracts. i would do it a different way versus the government trying to

assemble $20 billion to buy a company headquartered in finland, is good and we help them on the r&d front, help them overcome this massive chinese investment from the government? secondly, how about financing deals? low interest loans, zero interest loans that would allow them to compete against companies like huawei and zte around the world. to me, that is a better way. the government gets their money back and it helps make sure western values, telecommunication companies operate. taylor: how concerned are you that the u.k. did not ban huawei? mike: i don't think this is done yet. parliament will weigh in. this allows huawei and his network -- there was some crazy notion. 5g, they could protect the corbett all that edge computing. 5g is all about edge computing. your ability to committed to quickly, machine to machine,

person-to-person will happen on the edge. i don't know anyone who believes that is even possible, number one. what it means is it will change the way the intelligence services of the united states share with our greatest partner, great britain. we share more with them in real time than any other nation, even more than the five intelligence countries we share information with. that will change. you are giving china the ability to turn off things when there is a disagreement. why would you want any for an adversary to have that capability, that leverage anywhere in your networks? you cannot keep them out. an old saying of the intelligence business -- it is not about where you get into a network, it is how you move once you are inside. the lateral movement. once you are in their network in anywhere in the country, they can move around to places you don't want the chinese to be. taylor: what is your take on the

fcc auctioning off those airwaves? i would imagine if satellite providers do not like the price, $10 billion or so. how do you term it fair value? mike: this was a really sticky wicket. the most important first step we needed to do to be competitive, the united states to be competitive and u.s. companies to be competitive in the next generation on 5g was opening up this c-band. the goldilocks spectrum. it has all the right properties to make 5g effective and it is cheaper to deploy. that is absolutely. you want to be the chinese, they are building out wherever they go, which makes them quicker, a little cheaper. we need to open up this spectrum. i thought chairman pai negotiated a pretty sticky wicket. cost was a big part of it, but these companies who have been licensed for 20 years to operate in this space now have to give up that space and then reorient their company. cost was a big part. and getting through that was

kind of a big part. masterful by the chairman. still some work to do on how those percentages look. you don't want to have a company going into bankruptcy from this. taylor: always need more time with you. mike rogers, thank you for joining us. now this week, alphabet reported quarterly revenues that missed analyst estimates. part of that issue was youtube sales numbers -- the stock fell on the results that actually rallied to close the week higher. withd a chance to sit down ruth porat and asked what is this tragedy to continue to grow the -- strategy to continue to grow the company. ruth: we are focused on what it is we could be doing that raises the bar on ourselves. we started with privacy. privacy for us, it is core to the experience that users have. it is there data. we need to understand we want them to have control over the data. so upping the bar on ourselves,

whether it is investing on all of the experience users have so they have control over their account is something that has been true from the earliest days of google. or working with regulators. wean example, in the u.s., are very supportive of national legislation on privacy, similar to gdpr in europe. our view is something that makes it really clear that there are standards that are being applied makes sense, but while that discussion is going on, we up the bar on ourselves. >> there is talk about voluntary breakup ahead of any kind of political winds that blow around breaking up the biggest tech companies -- google, amazon, others. is that something you think and talk about, that there are parts of your business is you can live without to avoid the anti-competitive responses? ruth: our view is one of the most important things to be clear about how we are creating

value for users and for businesses around the globe. and, the investments that we make provide extraordinary operating leverage for advertisers, for businesses. they create extraordinary experiences for users. to us, there is a positive flywheel that comes from the type of investments we are making. the scale that we have with android is what allows 500,000 canadian companies that we are talking about, whether it is with our platform or search and advertising tools, to reach a much broader audience. you need to look at both sides of it. what is it the scale gives you? whether it is content creators or others, it gives them the reach to enable them to have the impact they are having. >> u.k. competition regulator, just looking acosta capital versus return to capital, there might have been some overreach of that market dominance. is that something you need to respond to? regulators everywhere are looking at this more seriously, including the u.s.

ruth: globally, we are engaged with regulators. we want to make sure -- our view is by working constructively with them, sharing data with them, they will understand how we are approaching things. we feel good about what we are doing, but it is about working constructively with them. >> you did break out your numbers for the first time. what is behind that decision to create transparency in every division and how it is growing? ruth: i often say we have been on a journey and we have been expanding disclosure over time. whether it was providing more insight into what our geographic breakdown, our one-time run rates. we look at a number of changes over time. our view is this was helpful. we took our sites revenue and broke it into what is search and what is youtube. that gave everyone a slightly greater insight into what is in the business and the trends in the business. similarly, providing the

revenues for cloud, we have been investing heavily in our cloud business. really excited we ended the year with a $10 billion run rate business. an x ordinarye -- given the opportunity in cloud and what we are doing and the extent to which we are investing. giving people a greater insight into the momentum in that business. taylor: that was amanda's interview with ruth porat. coming up, we will look at how the coronavirus is impacting supply chains around the world. that's next. this is bloomberg. ♪

taylor: the deadly coronavirus continues to spread and its effects are hitting the tech, e-commerce and real estate sectors. companies from apple to facebook to amazon merchants to manufacturers like nike have all had supply-chain impacts. to discuss in our latest retail transform segment, the retail and industry consultant, and prior to that ceo of the american apparel and footwear association. rick, great to have you. take a look at the coronavirus. have the retail industry have some of the biggest impacts relative to other industries when it comes to the supply chain and disruption from the virus? rick: i have to tell you, we are all very concerned. we have lived through this once with the sars epidemic back in 2003, so it is a little bit of deja vu all over again. sars went on for about six months. we are only six weeks into this and the concern is realistically

speaking, when you look at all the data, this is spreading about 60% faster than sars. and thisgood news takes into the heart is the mortality rate is about 80% less. andconcern is the spread what is that going to do to supply chains. a lot of people in our industry looking at opening up again on monday. you just heard apple's opening of their retail stores. you heard hyundai is having issues with parts out of korea. when you put all the picture together, you start to realize, yeah, some of the factories may reopen on monday, but will the people, the workers be able to get there? if they get there, will the raw materials be there? the industry is bracing itself. certainly, those of us who have retail in asia are extremely

concerned. you have heard a lot of paring back from earnings. you have seen it all the way thatuniglow to burberry, with all the sneaker companies in between, that people are genuinely concerned that the chinese shopper who is a superb shopper for american product will not be in the stores. that there will be a pullback on that end and a pullback on supplies. we will have excess demand in the supply chain. taylor: when does the retail industry now start to reduce the reliance on the supply chain in china? it was disruptive with sars, it is disruptive now. when do you start to diversify your supply chain? rick: we have been diversify for more than 10 years. the problem is china does not really -- does really well and has been a real help for the american consumer. but the retail industry has been struggling through the trilogy of absolute very difficult

things that can go wrong. first, we have the back tax. following the back tax, we have been dealing with the tariffs which still have not gone away. now, the coronavirus. all while this is going on, we are learning how to deal with the new millennial customer. it is not easy for retail. the numbers last year, they announced 9300 retail doors closing. this year is not off to a great start. we have heard some news about macy's the other day. pier 1,inly have forever 21. i can go down the list. everyone is struggling. on top of the struggle, now we have to deal with a virus that we don't understand. people are comparing, everyone gets the flip. well, we have a vaccine for the flu. we don't have a vaccine for this. taylor: one of the big struggles your industry has seen is the threat from amazon. you have seen a shift recently, nike for example, going back direct to consumer.

we will no longer partner with amazon. is that a shift we are seeing more broadly in the apparel and retail industry? rick: you will see a lot more of that in retail. amazon is genius and what they've done. and have stepped out taught the millennial a different way to shop and the millennial has taken to extreme well. even the boomers are taking it to it very well. people like to tell siri what to do and all of a sudden, boom, you got goods in your house. it is a new wave. as sophisticated retailers and merchants are starting to understand that they can do them themselves, they will take it in-house when they can when they think they can be successful. flaming so much in amazon and saying amazon was the leader and not everyone else will figure out how to do it their way. taylor: thank you so much. that was rick, former ceo of the american apparel and footwear association.

coming up, one of the most powerful women in tech. leading to victory against uber in china and more. we will explain the story next. this is bloomberg. ♪

taylor: with the valuation of over $50 billion, didi is one of the most high-profile companies in china. the company's president jean liu helped to drive uber out of china and expand beyond the border. we take a look at how she became successful in a country where women are not always seen in the c-suite. >> jean liu is one of the most powerful women in tech. she's the president of didi chu xing. the company operates one of that country's biggest ride-hailing services, completing more than 13 million rides a day. didi is a world's second most valuable startup with $56 billion valuation.

the valuation has been called into question following uber's disastrous ipo. didi's shares are said to be trading privately 40% lower. investors are starting to doubt if car hailing companies can never turn a profit. this is how jean liu took on uber and made didi one of the most high-profile companies in china. into a prominent family in beijing in 1978. her father is a chinese tech icon, the founder of lenovo. >> strikes people as a type-a personality. part of it comes from the fact that her father is one of the most famous people in china and she has been trying to make a name for herself. >> liu majored in computer sciences at harvard, spent five years managing investments in goldman sachs. in july 2014, she joined didi, aiming to help solve china's massive traffic problems. >> right after i joined didi,

there was this coder coming to my office saying i want to design. i asked her why and she said i got pregnant. commute thatis the is killing me. hourss spending three between buses and subways every day. there are many people like that in china. 800 million chinese that ride 1.4 billion times every day. >> financial expertise to didi. she help the company raised billions of dollars to compete against its largest rival and then later brokered a merger. she was diagnosed with breast cancer. she survived and returned to work to face one of the biggest battles of her career. didi was facing its strongest competitor ever, uber, which is already big in the u.s. and starting to expand globally. >> it came when we were three years old. the money they brought in was

better that our market cap. we were scared for a moment. there was a big decision. >> didi did not give in. instead, liu in her company fought an all-out battle against uber. the two companies spend billions discounting rides in an attempt to crush one another. gaining market share turned into a question of who had more money to burn? >> first of all, we worked really hard. in theduct team stayed office for three months. they sleep in the office. we rolled out more product lines after uber came in. secondly, we think we understand the market more. >> many of china's cities restrict the use of ownership of private cars as a way to manage traffic and pollution. didi focused on taxi hailing. uber did not seem to understand that. didi also had the support of china's two global payments giants. they hleelped smooth transactios

and backed didi subsidizing its drivers. a you later, didi and uber decided to stop the costly war and concentrated on building their businesses. in august 2016, didi bought uber china after receiving $1 billion of funding from apple. uber also acquired a small stake in didi, retreating from the chinese market. since then, didi started to dominate the domestic market. >> since brokering the apple deal, when she met tim cook, she was saying didi's logo is an orange freedom apple being another food company, they were bound to do great things together. 22 days later, they announced that apple was investing $1 billion into didi. >> while didi triumphed over uber in china, they soon began competing globally. didi is entered markets in latin america, australia and japan. it now completes an average 4 million rides a day outside of

china. but also launched a proxy war against uber through investments with international investors such as grab and lyft, the main rival in the u.s. >> didi and uber have a pretty interesting relationship. after the merger, they did have this short period of truce. they were observers on each other's board. that has come to a halt now. didi bid form strategic alliances with grab, lyft, but it has not been working as closely as people have envisioned. >> just like uber, didi has ambitions beyond ride-hailing. it is venturing into on-demand food delivery, bike sharing, smart city solutions, driverless cars, and the lucrative car financing business that jean liu helped build. but those ambitions may be kept in check by year-long company overhaul triggered by the alleged murder of two female passengers. the company's safety record was

thrown into the spotlight. thousands of uses publicly deleted the app. regulators cracked down on the type of drivers allowed on the carpooling service, hitch. >> [speaking chinese] >> it was a huge setback for didi. at the time, it had to halt its carpooling service. it was a very lucrative service for the company. after that, it went through a series of revamps, trying to step up its security measures. they finally resumed that service last year. >> despite new success with the company, helping grow it into a massive startup of about 30,000 staff, the remain serious questions about the business. the company is said to have lost $1.6 billion in 2018. investors are doubting it could ever turn a profit. it faces stringent crackdowns,

competition from regional operators even after muscling uber out of china. the outbreak of coronavirus could also dampen didi's prospects as the government has imposed travel restrictions and people are traveling a lot less in cities. >> it is another make or break year for didi. a lot of jean liu's legacy depends on whether she can prove didi can be a profitable company in the long run. ♪ taylor: that does it for this edition of bloomberg technology. bloomberg technology is livestreaming on twitter. check us out. be sure to a follow-up global breaking news network, @quick take, on twitter. this is bloomberg. ♪

david: a bug spreads from china and iowa moderate and progressive candidates onto new hampshire. i'm david westin. welcome back. we will sit down with editor-in-chief of the economist. >> we are going to talk in this pedal about where trade and the climate intersects. david: and glenn hubbard, former council of economic advisors chairman. >> we are not going to grow our way out of structural deficit. david: and deputy assistant secretary at the u.s. treasury. and our special guest, larry summers, former u.s. treasury secretary. and former member of the federal reserve board of governors. ♪