[applause] president xi: conviction, commitment and confidence matter at all times. with these traits, a people or country would always emerges stronger from setbacks. without them, one would easily give up and lose the courage to fight. our convictions through marxism, commitment to socialism with chinese characteristics and confidence in realizing the chinese dream of great national rejuvenation were, are and will always be a powerful source of strength that inspires the chinese people in standing up, growing rich and becoming strong. [applause] president xi: comrades and friends, despite all the difficulties standing in our way over the past 40 years, we have met them head-on and have grown from strength to strength. just as the mighty river cut through the mountains and surges ahead the gathering the force of thousands of streams, the sufferings, have a sacrifices and heroic struggles of the chinese people and chinese nation have forced a mighty energy over a long course of history. today, such an energy has been brought out and offers an irresistible driving for

we just had a good dinner with president xi but you have to be realistic. i don't think a lot of people in american business have been realistically sufficient but now i see changing attitudes and i think that is correct and think that's right. i'm not going to encourage them to leave or stay or any of that stuff but you just have to keep your eyes wide open and i think these trade talks will be significant. >> don i don't think the trade talks are designed to completely change your system. i don't think so. i think these talks are centered on a variety of specific issues and much as i might want to have them adopt a kudlow-ian supply side model, breaking news i prefer lower tax rates, no regulations and limited government or limited regulation, i'm not sure we get there in 90 days with china. but i think on specific matters we can or we can move the ball in the right direction. look, if not, as again the president has been very clear on this, we'll go back to 25% on the existing tariff goods and services and may add to that. so i defend that. i think that'

sometimes president xi calls him, sometimes he calls president xi. the calls, according to the people present, are often an hour-long. this is a very rich relationship. i think it will easily manage an event like concerned everyone yesterday, the arrest of mrs. meng. host: let's talk about that. is thethis company, what fallout? guest: you are like president trump. [laughter] that 100 yearook marathon i have a discussion of the national champions system. in violation of their agreements with a joined the world trade organization, the chinese government and communist party will pick out a sector or company and nurturing with what for international norms would be illegal. they will spy for the company around therets from world. they will provide illegal subsidies to the company. 's case, the founder is a military officer. a couple of senators yesterday used the term "arm of the chinese government." they have roughly 100 companies called national champions. companya 35-year-old that was nothing when it began. they claim by their hard work espionage orit

we talked about president xi jinping's speech in china.hat's coming through to the rest of the world. manus: let's see what comes through in terms of stimulus. nejra cehic is never far from an inverted yield curve, everybody. 10s and also 2s/5s. 2s/5s has inverted for the first time since 2008. ?hat you want, a small pause nejra: i am not calling the fed. manus: we take that as the base case. does that save the inversion from happening? can the fed avoid a policy mistake? chris: i think it potentially does. we have seen some weakening in 10 years. if the market feels that the fed rather thansmall p, a capitalp, it may think again about what that means for 10 year yields. nejra: we have been going big on little p. i want to get back to the equity markets real quick. even goldman has various calls and probabilities of whether we go up or down from here. the s&p 500 has fallen to percent or more six times this quarter -- 2% or more six times this quarter. goldman is saying it's time for stock investors to get defensive. rather than trying to

[applause] president xi: in the past 40 ms. detonated a foreign policy of peace -- designated a foreign policy of peace and win-win strategy of opening up. we have from a upheld the basic norms of governing international relations and justice in world affairs. with made a historic transition from a closed and semiclosed country to one that embraces all. we have taken part in globalali zation and actively promoted economy.ing of an open we have pushed forward the reform of the global governance system. opposedunequivocally power politics. and have implemented chinese wisdom, approach and strength to world peace and development. china has moved closer to center stage as a widely recognized promoter of world peace, contributor to global development, and offender of international order. [applause] -- defender of international order. [applause] in the past 40 years, we have made continued efforts to strengthen and improve party leadership. active measures have been taken to address the risks and tests and reform and opening up, conf

pope pius xi calls his german encyly cal with burning concern. condemns racism from a theological perspective. >> it was talking about how it's foolish to think that will god would lock all of what is great in humanity into a single race. >> with the nazis on high alert for any subversive activity, the vatican uses a secret career network to smuggle the encyclical into germany. >> it was read from the pulpits in catholic churches throughout germany on palm sunday that the only time that the whole of germany heard a denunciation of the regime from pulpits, an extraordinarily brave thick to do. >> but the papal risk is a measured one. although the encyclical deannounces racism, it fails to mention hitler or the nazi party by name. >> it's a document that bears can pa chelly's hand. he is ever mindful of the need and of the desire to try to maintain diplomatic relationship. >> so it's an interesting sort of doctrinal statement that perhaps lacks some of the political punch that that hour called for. >> regardless of its ambiguous language, hitler se

i would argue xi jinping needs abe more right now than abe needs xi jinping because of what you heard from bob took the administration decoupling strategy from china is a logical in many respects but in the high-technology sector especially when it involves zte, 5g, it is working and it is working in japan, working with korea, worked with india, new zealand, australia. the chinese have, also with belt and road, the debt trap branding is hurting them, and in beijing the chinese side agree to all of japan's demands for imf, world bank adp step a joint project. there are no joint projects yet but the chinese side signed up to all of them with no pushback because this was the japanese interpretation that i heard, china relies beijing relies it has a branding problem. ironically a little bit of japanese endorsement would help. it's a shift although the towards a more stable japan relationship but not fundamentally different trajectory. just remind you of that, you saw the pupil that came out, people asked do you trust xi jinping to do the right thing, if every country in the world, the ans

it's very hard to see these issues precede trump and xi and will go on beyond trump and xi.ere are historical structurals as we have discussed on this stage many times. it is hard to see a fundamental change over the coming year for a number of reasons. again, it's not really the 90-day trade war. we have the 2017 national security strategy which you have mentioned which names china as the united states' greatest long-term security challenge. china sees the united states as its greatest security challenge as well. i'm going to focus on the american side but there are corresponding attitudes on the chinese side. the trump administration has called for defense supply chain resilience, they take this extremely seriously and that would mean a restructuring of the american economy if they are serious about that. we already have the cfius reform bill which scared away a lot of investment and will look with greater skepticism at subsequent investment. we will probably see new rules on export control. we may be seeing rules limiting chinese student visas which would really be tellin

it's hard to see these issues precede trump and xi, they'll go beyond trump and xi.they're historical as we've discussed on this stage many times. it's hard to see a fundamental change over the coming year for a number of reasons and again, it's not really the 90-day trade war. so we have the 2017 national security that we mentioned that names as china's longest term security challenge. and china sees the united states and i'm going to foe consist on the american side and the trump administration called for defense supply chain resilience and seem to take this extremely seriously. that would mean a restructuring of the american economy if they're serious about that. we have the sifius reform bill and we'll look at subsequent investment. we are probably going to see new rules on export controls. we may be seeing rules limiting chinese student visas, which would be telling maybe the greatest talent pool that they're a despised glass in the united states and harm our ability to -- because of china we're working on a free and open indo-pacific and we're opposing china 20

i think xi jinping has correctly identified a new era. there were no new ideas in yesterday's speech. >> this side here, on our left. >> thank you. [inaudible] now the mic is on. quick observation, xi jinping, talks about once chinese, always chinese, all chinese have an obligation, and so on, but it is contradictory to what was created for chinese policy and law to get china an invitation to the conference in 1955. speaking personally, if i have to juxtapose the strategist against xi jinping as a strategist, i will take him. but that is a quick aside. you asked for a pessimistic or worst-case scenarios. i heard almost nothing about the south china sea, and i, and i suspect everyone on this panel, could very easily to a scenario in which a true naval war emerges even inadvertently in the south china sea within the next three hours. it could happen at any moment, and if you're sitting at pacific command in honolulu you have multiple scenarios you are working through for precisely that development. so i simply note -- i guess the question i

they reportedly sent a letter to the xi jinping communist party chief. he's seeking a meeting and expressing deep concern regarding the growing crackdown. i'm curious, why didn't the u.s. sign onto that letter, do you know? >> umm, so we agree with you completely. thank you very much for the question and the clear statement of support for the u.s. speaking out strongly on the human rights conditions in china and also the commissions there. the specific letter, sometimes the countries involved, they are like-minded partners, and we may or may not join on any kind of particular maesh they areeasureg out of the embassies in beijing. but we are working consistently with those like-minded partners to do real action. we have many more tools, and we also have a lot more signs sometimes to take real action. >> i'm running out of time. if we're here complaining on the one hand how these countries aren't doing enough, when they do something, we can't sign on to a leter? i don't know if that decision was made here in d.c. as part of the broader relationship with ch

and i will add two things where president xi agreed quickly. so president drum bass for the redefinition of the nl - - fenton all which is a very big issue in the white house. very big. china unfortunately does a lot of processing of that so that has important ramifications and president xi almost without hesitation said yes. second, later in the conversation president trump asked president xi if he would reconsider the qualcomm deal if it came up again? almost without pausing he said yes i will. but let me make my point. for many months i have said when i was a reagan cub scout mrs. reagan coined the phrase what should china do? and i would say tongue-in-chee tongue-in-cheek, try not to say yes because they never have any eight or nine months i've been involved in negotiations. i cannot say he will say yes but and then just say yes to a couple of them important things and that's why i am raising this. that is gracious in the meetings but you are asking them to do in the 90 days that has been accomplished but then they delay to hope the adminis

president xi. yvonne: you can see the premier kicking things off, wrapping up the national anthem. before we leave to xi's speech, tom, you mentioned the trade tensions and how this will impact china's open. has the administration given enough pressure to drive president xi to deliver on reforms? this is an opportunity to use this is a political went? -- wind? tom: this is absolutely what a number of key individuals have told us, that this event could be used by president xi and the chinese leadership to open up and make reforms on major parts of the economy which would go a long way of addressing china's trade partners, washington and elsewhere -- european union and japan. they could use this to say they are not bowing to u.s. pressure but doing it in line with reform. the american chamber of commerce president told us that is what he hopes to see. a broad announcement of lowering barriers. the consensus view is we will not get anything that radical in this speech. bloomberg intelligence thinking

there were no measures from president xi. a backward looking speech looking at the achievements over the last four decades. it was a lot of focus if you want to get a sense of president xi's priorities on the communist party, the role of marxism and the state in shaping and forging china's last four decades of economic progress. he said reforms would continue and remain challenging. china and president xi said they will not buckle to pressure from outside forces when it comes to their reform agenda. not much for investors to cheer. now the focus is on this annual economic meeting that is going to start tomorrow and wrap up on december 21. there is expectation that you're going to get additional stimulus measures to support the economy and push back against some of the pressures building from the trade war. that is now where the focus is. francine: thank you so much. they didn't get what they were expected. can they get it at a later date? >> absolutely. i think markets tried to anticipate too much. let's not forget the u.s. a

the only formal barrier to xi jinping staying in power indefinitely. firstly, what happens in chinese domestic politics matters for u.s.-china relations. it is the background against which these discussions are andng life -- taking place we need to understand beijing to understand this relationship. i wonder whether the sense that i had today, the sense of this is actually happening, is how we are going to look back on this year in general, the year as the start of the clear i recommend -- the clear eyed reckoning. this wasn't just another deviation. china was in just zigzagging on the broader trajectory. china was on its own course. we've seen the start of the trade war with the united states, u.s. warships in the taiwan strait, and the emergence of questions about whether we are in a new cold war. academic water russell read called in the cold war 2. the treasury secretary has warned of a new economic iron curtain. on the chinese side, you have the foreign ministry accusing the u.s. of having a cold war mentality. i want to turn to the professor. it

i just want to say on xi, president xi and president trump really had good comments.heir friends and so forth that not been on together before and they really have a lot of good chemist teri. president xi really carried the ball. so it went up the script but i think president xi made the sale. there have been chinese commitments which secretary mnuchin said earlier today we hope will be turned into an actual treaty, an actual agreement. i don't know if this has come out yet. president 7972 was their commitments will begin immediately. i don't know that that point had been made. that doesn't mean we're going to cover in everything in the first three days. however, when it comes to the agriculture, energy, industrial purchases and so forth, and these are private-sector purchases were a tariff rates will be lowered and also non-tariff barriers will be lowered with respect to american ownership, for example, with respect to technology transfers, with respect to ip. those things should kick in soon. we should be palpable changes on the chinese side immediately to quote mr.

you haired larry say xi was on top of the specific issues.ou know trump is superly on top of them as well. when that happen, it's time for optimism and hopes for the future. i love it that our team is the team that's doing this. blake: the 90-day window starts january 1. so april 1. do you think there will be structural changes between now and then? >> i think we'll have a lot of changes by then. i think we'll be much more solid ground by april 1. i think it's the exaggerated window and not just the first day for things to begin. blake: coming up. spend less on the military? that's one suggestion from the rrp, or at least the interpretation of it. reports that the marriott hack could have been prevented years ago. what judge napolitano has to say about it, and that's next. but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether y

i think xi jinping has overstepped. this is 50.9% xi. 49.1% structural in my view. at least in light of what is happening now. in the last week, new zealand and india put out in different ways, investment controls in high-tech and sensitive sectors. i think you are going to see more and morere of this. there has not been pushback significant enough to change chinese calculus. what would -- in an alternate universe if we had passed tpp here, if we had moved to t continue with europe, if we had gone back and investigated a bilateral investment agreement with china, we would be having a very different discussion. i think thek constituencies in china for getting back on the path of reform and opening and growth and sustainable growth would have had some backing. so when i think about it, it is not xi versus structural. it is -- i think the largest i would say reason we are seeing this is because we have dropped a winning hand that would have put us in a really much better position to leif ran some reasonable change in china. i don't see china's mercantilism as inevitabl

i know president xi and myself i want to thank the president for his nice, best wishes. on behalf of a man we all respected, president bush, and we very much appreciate that. we will be going back. i will be going back to washington right after this and i will be spending three days of mourning and three days of celebrating a really great man. we look forward to doing that. he deserves it. i spoke with jeb and george today. we had great conversations, and spoke about how much they loved him and how much he loved them. we are now going to start a meeting. we will be talking about a number of topics. one topic we will bring up will be the fentanyl problem we have in the united states, a tremendous problem. i asked the president to do something about that. a restricted category. we would be able to stop it right there. to criminalize it in china would be a great thing. discussing trade. i think at some point we will be discussing things that are great for china and great for the united states. i look very much forward to dinner and the discussion. the relationship is very s

that come after his phone call with xi jinping. stakes remain high a net -- ahead of talks from nest week. progress onof ending a border wall funding. investors limp towards the new year. we will focus on the outlook for all the equities. juliette: it is the final day of 2018, can you believe it? of course it has been a very volatile year for investors. this is how things closed in asia on friday. we had a pretty good rally adding onto that strong session thursday. china's market up about 7/10 of 1%. the nikkei was a little weaker. still very much a public holiday in terms of australia, new zealand, hong kong, all closing earlier along with singapore. japan, south korea, philippines, taiwan, bangladesh as well. futures indicating what we could see in the aussie session and of course as we see trade in new zealand. fairly flat. the kiwi giving up a little against the dollar. you have got the futures suggesting we could see more momentum. that rally is coming into fruition for aussie stocks. the aussie dollar fairly flat. because it

import tariffs on american cars as part of that trade war truce donald trump and china's president xi jinping met at the g. twenty summit in argentina two days ago they agreed to try to resolve the differences over the next ninety days trump was delayed boosting tariffs on chinese goods in january lived out to al-jazeera adrian brown who's with us from beijing any reaction from china's foreign ministry about this. well yes the foreign ministry confirmed that yes the united states and china were eventually looking at the possibility of the lemon eliminating all terrorists which sounds almost too good to be true when he was asked about trump's tweet that he the china had agreed to reduce eliminate those tariffs on imported u.s. cars he said well contact the commerce ministry here in beijing we did that there was no response from the commerce commerce ministry and that sadly is frequently the case here in china i think that if you know president trump is the is the master of the deal than president xi jinping is very much the master of buying time and that's what he's got with this truth

a lengthy phone call with president xi.rump tweeted progress is being sideshile xi says both push for stable progress. china's factories drop in september, underscoring concern of domestic economy. let's get more with our chief asia correspondent. stephen engle joins us from hong kong. good to see you this morning and great coverage. what do we know about? -- about this, the detail? stephen: the detail was lengthy according to the white house, donald trump saying they had big progress on the negotiations so far since that meeting in argentina with president xi and saying themen telephone call went quite well. you heard the comment from china saying they want stable progress. that is very telling because past negotiations between the two sides have not moved the ball forward that much. back in may, you had the right hand man going to washington, d.c., apparently striking a deal with u.s. officials, including steven mnuchin, only to have that could lost by donald trump. progressse want stable and they want the united states t

jinping. >> the relationship is very special, the relationship that i have with president xi, and i think that is going to be a very primary reason why we'll

i think xi jinping has correctly identified a new era.ere were no new ideas in yesterday's speech. >> now the mic is on. quick observation. all things. -- china an invitation to the conference in 1955. speaking personally if i have to he has a strategist again g asian paying as a strategist -- xi jinping as a strategist. you asked for a pessimistic or worst-case he has a strategist again g asian scenarios. i heard almost nothing about the south china sea and i and i suspect everyone on this panel could very easily to a scenario in which a true naval war emerges even inadvertently in the south china sea within the next three hours. if you're sitting at pacific command in honolulu you have multiple scenarios you are working through for precisely that development. so i simply know, i guess the question i would pose is can we imagine a real military conflict in the south china sea somehow being managed and contained within a broader trajectory of u.s. chinese engagement. a couple of years ago the militaries reached a preliminary agreement ove

trade war he initiated but actually world peace as well, tweeting out, president xi and i have a very strong and personal relationship. he and i are the only two people that can bring about massive and very positive change on trade and far beyond between our two great nations. a solution for north korea is a great thing for china and all. i'm certain that at some time in the future president xi and i together with president putin of russia will start talking about a meaningful halt to the arms race. the u.s. spent 716 billion

china will not be told how to do business that's the bottom line of president xi jinping speech marking for two years of economic reform. also coming up an odd company in china that benefited in a big way from economic reforms now it has to change its business model. u.s. foreign policy and sanctions against tehran make. every day a new life for the people in iran very difficult. welcome to d.w. business so today china marks forty years since its economy opened up to the rest of the world a move that ultimately turned china into a global economic powerhouse second in g.d.p. if only to the united states forty years ago china's g.d.p. hovered around only one hundred fifty billion dollars annually on the early twenty years later in one thousand nine hundred ninety seven it broke through the trillion dollar ceiling about last year g.d.p. had grown to over twelve trillion dollars in a speech marking the anniversary chinese president xi jinping vowed to press ahead with economic reforms but he also made clear that beijing will not deviate from its one party system or take orders from any othe

gordon, xi and trump. it doesn't look like the chinese want a deal. the president says he and xi do want a deal. there is any real prospect that a deal can be done? >> not long term. you hear a number of people talk about architecture and framework. that's basically stalling. long term, because china is determined to steal u.s. intellectual property, that's income patible with a trading nation. long term, this is not going to work. >> i get a kick out of people who are shocked that jack m tax, china's richest man has been a communist party. member since 1980. people are delirious when it comes to the totalitarian state that is china. >> it is a totalitarian state. but it's too soon to say the president's efforts to get a trade deal with china will be unsuccessful. lou: we are talking about over the weekend. >> the president will use this sum to it try to convince president xi to negotiate in earnest. low prr gordon, in my opinion is absolutely in perfect tell foe with the times in which we live and the challenges we face as is the president of the uni

outcome that involves a pause that leads to more talking will be interpreted as a victory for president xi jinping certainly the tone in china's official media is that this is very much a diplomatic victory for president xi and some media reports making the point that it was indeed president donald trump who invited xi jinping to the dinner in one of saris the suggestion there being that of course president from want to distin a much more than president xi jinping we've been seeing a bit of financial reaction here on monday the chinese currency is up significantly against the u.s. dollar it has been suffering big drops during the past few months and also the main shanghai index was up more than two percent on monday morning also the hang seng index in hong kong has also recovered so the stock markets here in china and indeed in the rest of the asia pacific region seem encouraged by the outcome of these talks even though as of now we still have precious few details on what was actually agreed adrian brown in beijing thanks for that adrian israeli police say they have enough evidence to indi

between the meeting between donald trump and xi jinping? trump and xi jinping? this news coming out from the trump — xi meeting. out from the trump — xi meeting. indexes in hong kong and shanghai skyrocketed 2%. skyrocketed 2%. in the us, the us markets also had a celebration. markets also had a celebration. countries will solve their underlying differences. underlying differences. some people in the us government industry earlier today. industry earlier today. initially they were relieved by the news. news. to worry about what will happen after the 90 day deadline. after the 90 day deadline. feng there, speaking with rico a little earlier. bush, who died on friday at the age of 94. mr bush served as the 41st us president, from 1989 to 1993. before his burial in texas. our reporter is on capitol hill. america's 4ist president george w bush. bush. his cask —— casket arrived just as the sun was setting. just as the sun was setting. carried up the steps here with a military guard of honour. military guard of honour. at his number 43rd president george w bush. w bus

the chinese -- xi --ou know, her father is an f.o.x., friend of xi. and friends of xi. xiill lose face in china if they don't do something to smack us back for thist it's alm guaranteed to do that. >> all right. >> what i would worry about is u.s. busines people in china. >> and what do you mean by that? obviouy there are number of very large scale companies that -- that do business in china, have relationships with chinese companies there. what might the chinese d and what do you mean by you'd be worried about personnel. >> well, the people have talked about how we are in a good trade position because we can tax alm of their exports to us and they can'tut tariffs on so much of ours. that's baloney. u.s. companies have a huge presence in china. they are actually in china producing products for chinese middle class consumers. and those companies are subject to all sorts of what i would call messing around by government officials. anywhere from permits to run the smoke stacks to open their doors, you name it. u.s. business leaders in china have complained about treatment

how much do we know what president trump and xi discussed?s what trumpmuch told us via twitter that they made good progress towards a deal. he said it would be a comprehensive deal covering all manner of areas of contention between them, but he did not give specifics on what that would entail. over the weekend, we know that xi responded in kind with the chinese state media commenting. these are things we are watching going into the u.s. delegation arrival in beijing several days away. matt: what does this signal for trade talks? are we getting our hopes up a little bit here? karen: i mean, we are, matt. i think people who have been watching the trade war over the last month have got in her up before and the are taking this with a grain of salt. trip may bes that overstating how close they came to an agreement. they said this could be a rolling back and a sign that trump and xi will be following certain commitments they made at the g20 in buenos aires. there will be a lot to watch in the coming days. matt: karen, thank you very much. karen, jo

there's a sense in beijing that xi jinping, chinese ruler took on the u.s.y, that china certainly does not hold the high cards a lot of people once were saying and political dimension to this. xi jinping put on rules on succession and everything else out the window during 6 years. paul: restored something of cult personality. >> got rid of the rules and which, you know, president trump faces election every four years or american president does, xi jinping faces election every day because he has become responsible for everything. last year that was great because things were going well for china, he could take all the credit, this year when things are not going so well for beijing he gets all the blame. there's nobody he can blame because he's taken responsibility and authority from everybody else. paul: what you're saying he has real incentive, xi has and the chinese have to do a deal because if they don't you're going to start to see and this is my point that they would start to see businesses move supply chains out of china, that's already happening. >> it'

still to come on the programme: marking a0 years of china's economic reform — president xi is to make: why gaming in south korea is not just a game but a threat to the younger generation. after eight months on the run, saddam hussein has been tracked down and captured by american forces. saddam hussein is finished because he killed our people, our women, our children. the signatures took only a few minutes, but they brought a formal end to 3.5 years of conflict, conflict that has claimed more than 200,000 lives. before an audience of world leaders, the presidents of bosnia, serbia and croatia put their names to the peace agreement. the romanian border was sealed and silent today. romania has cut itself off from the outside world in order to prevent the details of the presumed massacre in timisoara from leaking out. from sex at the white house to a trial for his political life, the lewinsky affair tonight guaranteed bill clinton his place in history as only the second president ever to be impeached. this is newsday on the bbc. i'm mariko 0i in singapore. i'm babita sharma in london. ou

progress is being made towards ending his government's trade war with china donald trump and china's xi jinping confirmed they spoke it over the phone about resolving their differences washington and beijing began imposing a series of tit for tat tariffs earlier this year after trump complained china had failed to address a trade imbalance between the two nations. have a chance he has more from washington d.c. very optimistic and positive indications from both donald trump and chinese media first that was donald trump's tweet which said just had a long and very good call with president xi of china a deal is moving along very well if made it will be very comprehensive covering all subject areas and points of dispute big progress being made exclamation mark and chinese media confirming about phone call took place chinese media said president xi said he hopes to push forward a sign a u.s. relationship that is coordinated cooperative and stable and he said that he hoped that the teams presumably the trade negotiating teams could meet each meet each other halfway and reach an agreement that

we'll meet with president xi in a little while. for theom most part trow would be the big meeting. >> bind the scenes officials cautioned that the president feels no urgency to cut a deal. he doesn't feel pressured to make a dea for the sake of a deal. he has more time a senioron administra official told me friday. he has been getting news from the economy shows resilience. but one possible outcome was no formal dealnnncement but perhaps an agreement to continue talking maybe the united states molding off on t planned tariff increases on january the 1st. of course, everything is going to ce down to the two men at the dinner table on saturday night. avr nightly business report, eamons in argentina. >>> in the meantime beige about aing has a trade strategy heading into the meeting between the u.s. and china. and our reporter has that part of the story from china. >> china doesn't want a trade war and putting on t game face. at the regular press briefing theoreign ministry they said they hope the u.s. will show the willingness. the ch

and president xi on how to move toward in tense war but interesting to hear president xi through lancelooking for cooperation between u.s. and china and as they work through world peace and prosperity and also said that he sent those condolences to president trump in order to president trump to transfer and relate them to bush family. it's very much president george h.w. bush at the top of mind there as he -- bringing in jane hampton back, it's very interesting because as you well know, jane, as historian, president george h.w. bush was very instrumental in starting up the u.s.-china relation and we built on that from his impetus. >> he did, i was reading today that president bush had told barbara, you know, if president ford says you can be the ambassador to great britain or to france, you know, i'm going to tell them i want to go to china, i want to be part of the beginning of new relationship with china and he did, it wasn't the easiest, you know, a place to go, had to ride a bicycle wherever he went but he deared to chinese president. the reason president trump is with president xi

i think xi blinked, trump made his point. i think we'll see progress.harles: what stock would you buy today, perhaps you wouldn't have bought on friday? or is there a name you would add to? if indeed you think the market can sustain this? >> we mentioned nvidia, right? they're telling right because they're the chip of the future when it comes to autonomous driving, data centers that is the next leg of growth whether domestically for internationally. that is all systems go. i like that amd is trading up as well. charles: amd number one performer on tech. full disclosure i bought amd around 20 buck as couple weeks ago. i think the whole space is oversold. is there something you may change or names at least sectors you might be willing to look at? >> one we definitely, we took some of our weight off of consumer discretionary. we're being a little more focused on less on manufacturer manufacturers, specific plays. charles: is that supply chain issue or question marks? >> higher rising costs transportation costs, margins getting tighter and tighter. another

andpresident trump president xi met at the g20.n had been set to raise duties on $200 billion of imports through january 1 with the white house debating whether to tax all goods from china. mr. trump: i look forward to the discussion from china, but the relationship is very special that i have with resident shane -- president xi, and it will be a primary reason why we will get this, get something that will be good for china and for the united states. russia and saudi arabia have yet to confirm new oil curbs after agreeing to extend the deal into next year. president putin announced the opec expansion -- the extension after meeting with the prince at the g20. the president said he is optimistic the alliance will reach an agreement on production cuts when they meet in vienna. the israeli prime minister benjamin netanyahu is facing corruption accusations with police recommending he stand trial for alleged bribery in a third case. investigators have more evidence he traded influence for favors, something he denies. lies withon to indic

president xi kpam came to powern 2013, and initiated his anticorruption campaign.sure for china to accelerate reforms amid a trade war with the u.s. and the impact that's having on the chinese economy. xi said no one is in the position to dictate to chinese people what should and should not be done, but there was no immediate reference to the united states. the commemoration ceremony also included the rewarding of pioneer medals of the many acknowledged included li kwon yu. chinese basketball superstar yao ming, and the executive chairman of alibaba jack ma, alongside 10 cent pony ma i'm emily tan in hong kong, back to you. >>> follow us on twitter street signs @cnbc. and tweet us directly. >>> the next round will pit football giants against each other. we go over the most anticipated pat match ups after the break. ♪ lean on me, when you're not strong ♪ ♪ and i'll be your friend ♪ ♪ i'll help you carry on ♪ ♪ lean on me. gundlach >>> welcome back to street signs, the european commission has asked italy to cut euros from its 2019 budget now, according to the report,

i'm sure that's president xi jinping's intent.e'll take that up after the break with the hill's david webb. stay with us. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. russia announcing a plan to build military infrastructure in the arctic as well as facility ons disputed island chain near japan. meanwhile, today chinese president xi jinping said china will continue to pump millions of dollars into developing nations using diplomacy to take part in global governance. now are we to interpret that as xi governing us? let's explore that. joining us now, columnist for the hill, fox business contributcontributor, radio talw host dav

>> president xi. >> i am optimistic they will keep on talking.ure we will see much more than that. >> we will probably get some cease-fire deal. >> both sides need good news. >> i think you'll see catalyst for shares to rebound. >> it is very much a wildcard watching donald trump go into a meeting like this. emily: president trump has already imposed tariffs on an additional $250 billion worth of chinese goods this year. china responded with tariffs of its own. this week, the president floated further tariffs that could impact apple products including the iphone. eric is on the ground covering this meeting. eric, what are the real expectations for any progress between the u.s. and china as a result of this meeting between the two presidents. eric: it's difficult to say what the realistic expectations are because we are getting different signals. trump has needled the chinese, talked about currency manipulators and the signing ceremony for the u.s. embassy, the replacement deal for nafta, and that was a not-so-subtle reference to china and sarah s

i'm sure that's president xi jinping's intent. we'll take that up after the break with the hill's david webb. stay with us. place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. russia announcing a plan to build military infrastructure in the arctic as well as facility ons disputed island chain near japan. meanwhile, today chinese president xi jinping said china will continue to pump millions of dollars into developing nations using diplomacy to take part in global governance. now are we to interpret that as xi governing us? let's explore that. joining us now, columnist for the hill, fox business contributcontributor, radio talw host david webb. let's start with xi making these reassuring noises. do you think he's think in the neighborhood of 95% of 100% of global govern answe governance. >> let's look at what he's

xi jinping wants to see stable progress.hey don't want to see fits and starts like in may when the right-hand man of xi jinping went to washington and thought he had a deal with steve mnuchin, but it was cast aside by donald trump later. they are more cautious on this. but they are saying they like to see that united states and china meet halfway on some of the pledges president xi and trump agreed on in their meeting in argentina. we have heard starting tomorrow china will have its third round 700 goods.cuts on the proof will be in the pudding, and the white house is getting pledge fatigue from the chinese. until some real progress happens. ramy: the two words that come to is fringe on the outside of things or fundamental, more of the core issues. the next were -- word we will hear is from xi jinping himself, giving his new year's address. what do we expect? stephen: don't expect fireworks or for him to attack the united states. why provoke the bear? right now it is happy and effusive in praise of china. i would expect a si

there was a genuine offer from president xi to president trump to make sure they opened up their markets to u.s. companies. this will be the biggest single opportunity for economic growth for u.s. companies and u.s. workers. i think this is a big difference >> you hear the treasury secretary putting it in sort of conditional terms. he'shopeful we can turn this into a real agreement. it's not a real agreement now. that's good enough for this white house. they're declaring victory in terms of the dinner. they're declaring it a big success over the weekend now the hard work of negotiating begins >> the bush family's on the way to washington, d.c. to bring the body of the former president back where it will lie instate beginning at 7:00 tonight. what's the mood in washington as tributes pour in >> i choose the word reflective. a lot of people think back to that era i just saw over at blair house just around the corner from where i'm standing, the presidential guest house, they're loading suitcases into the house. presumably that's for members of the bush family who will stay there. you think

i'm sure that's president xi jinping's intent. we'll take that up after the break with the hill's david webb. stay with us. ♪ voice-command navigation with waze wifi wireless charging 104 cubic feet of cargo room and seating for 8. now that's a sleigh. ford expedition. built for the holidays. and for a limited time, get zero percent financing plus twelve hundred and fifty dollars ford credit bonus cash on ford expedition. ford credit bonus cash russia announcing a plan to build military infrastructure in the arctic as well as facility ons disputed island chain near japan. meanwhile, today chinese president xi jinping said china will continue to pump millions of dollars into developing nations using diplomacy to take part in global governance. now are we to interpret that as xi governing us? let's explore that. joining us now, columnist for the hill, fox business contributcontributor, radio talw host david webb. let's start with xi making these reassuring noises. do you think he's think in the neighborhood of 95% of 100% of global

president xi said it is time for us to take center stage.e and you think he will dial back on that? nicholas: i think it is difficult to say. let me go back to the state-owned enterprise. i think that is a more structural problem and will be difficult for them to make significant progress in the short term. it does not mean they should not get started. iss is the sector that absorbing a lot of financial resources and is the main reason the debt to gdp ratio has soared so much over five years. david: and talk about the technology. which hasina 2025, been something that is a source of irritation to president trump. there were reports they will back off on that or at least extend the time. maybe it is 2035. do you anticipate they could existential he make a fundamental change were they firmly committed to that path? there arei think firmly committed to a path of moving up the technology ladder. the question is how do you do that. you throw a lot of resources at it or do private sector to play a role. do allow foreign firms to be a significant p