this air quality measuring station the absolution of a stretch of road used to be the worst in germany japan was introduced on the strength of the data collected here and the ban has made a difference exhaust pollution has decreased over the past year now the only diesels allowed to drive here are latest generation ones that produce very low levels of harmful exhaust emissions. sadie's is based in stuttgart and it still makes diesel cars it was implicated in the diesel emissions cheating scandal the 1st company to be unmasked was volkswagen later it turned out that my safety's had also been cheating claiming its diesel engines were cleaner less polluting than they really were it has cost my sadie's billions and dented its reputation. thorsten ada is in charge of engine development at the company. one wonders why it's still working on diesel powered models. costumers trust you. of course they can because emission levels have been checked and confirmed by independent external bodies they tested engines like this their own locations and they confirmed. this is the engine he's referring to. it's

japan is the fourth biggest economy in the world united states, china, germany, japan. germany and japan kind of go back and forth if japan and china slow, mike will have a point. >> here to me is the concern and there is a chart that ned davis did yesterday that we have it shows how many times the s&p has traded over a 20 multiple of earnings now, if what happens is we do have a slowdown caused by china, japan, et cetera, and we are trading at 20 now, 20 times 2020 earnings or 21 times or 22 times -- we don't have many cases where that's true. i am bullish on the market but you have a hard time, the market has a hard time getting over the 22 for long it doesn't collapse. >> let me ask you this question. how many of the periods that he pointed out in the chart had free money. >> correct, that's the difference. >> coming into the rest of the world and zero money how many like none. can i give you that answer that's right >> so we can think about past is prolog, but in fact it is not always true. >> correct. >> it is a trite saying. >> correct. >> the ever corps report, i

the city's tourism director says people from all over the world, from countries like, canada, germany, and japan have visited to snap pictures. many recognize the tower from the netflix show, "house of cards." you may ask why the tower is here, instead of say georgia -- which is known as the peach state. but south carolina has actually produced more peaches than georgia for more than 35 years. this has created a sort of friendly rivarly pitting, get it, georgia and south carolina against each other. the georgia department of agriculture tweeted "south carolina says they harvest three times more peaches as georgia, but we say ours are three times sweeter." south carolina's ag department fired back with the age-old your heart." that's it for this edition of matter of fact in greenville, south carolina. we'll see you next week back in washington, d.c. ♪ robert handa: hello, and welcome to, "asian pacific america." i'm robert handa, your host for our show here on nbc bay area and cozi tv. whenever you feel short of breath for whatever reason, it's a scary experience. but when it happens and you can'

here do you do you buy negative yielding assets in germany or japan, or any kind of yield a you can get by u.s. treasury's? even though at record lows, they are still higher than home asset prices that you could get in those countries. the best house out of a bad neighborhood. thank you so much for the latest on the 10-year off on to record lows. time for the bloomberg business flash. home depot has rebounded from a string of disappointing results. the largest home improvement chain in the u.s. reported fourth-quarter results that beat estimates. same-store sales did better than expected and the company is forecasting comparable sales growth up to 4% this year. shares of drugmaker melon crops are soaring today. the company has agreed to pay $1.4 billion to settle claims stemming from the opioid crisis. some of their units will file for chapter 11 bankruptcy protections. firmsh financial revolution has completed a funding round, valuing them at $5.5 billion. it still has not turned a profit yet. says they will focus on expansion and strive toward profitability. that is your business flas

that we have a global market in automobiles, it would be tragic if we could import cars from germany, japan, elsewhere, and their safety would work in their own countries but their safety devices would not work in ours. that is not fair to the american public. we talk a lot about stakeholders at the department. our main stakeholder is the american public. while the original commitment of airways for transportation safety was and still is a prudent decision, preserving this capability is important for the united states to remain the world's leader in transportation automation. the fcc will soon put its notice of proposed rule making in the federal register. all five commissioners voted in favor of taking away part of the safety band in december. this notice of proposed rule making will be open for comments for 30 day, and then reply comments for 60 days. this will give the traveling public, emergency responders, and all of you researchers and us, the department of transportation, the community to comment on the proposal. well, thank you very much for listening. now all of us are available to

me what is troubling, even before the coronavirus if you look at the fourth quarter data in germany and japanthose countries and italy as well, are all unity -- the growth is already slowing down to risk russian mary levels -- the growth is already slowing down to discretionary levels. jonathan: mike? >> in terms of indicators, probably want to see some evidence the virus has slowed a bit or even perhaps if there is hint of the vaccine i think the market takes a happy pill and we're off to the races. barring that, it is going to be a pretty painful process, i suspect. jonathan: many have said we are gallon -- downing them. if they did step in, do you think that could be the circuit breaker for this market? chairman powell says, it is going to be ok, we will do the , we will be there to do whatever it takes, without be enough? >> it would probably help quite a bit. why go 25? why not go 50? we just agreed monetary policy is not the elixir. take it in big because you're really giving the market a sugar pill and you want people to feel the confidence boost, give them a real boost. would it be en

we have seen countries go negative on their interest rates, whether it was germany, japan, and i think the entire bond yield curve for the german bund market went negative the other day. do you foresee negative rates for united states? >> you can't rule it out. liz: wow. >> if we go into a recession now, and given where interest rates are and where global rates are, we are the high yield alternative for the world, there will be so much capital flooding into the united states that i think it's very likely we would push rates into negative territory. liz: that's a bad thing, is it not? that means people would rather park their money in government treasuries and get back less. >> in a sense, in essence it's a tax. i mean, what's happening is the government can borrow at a negative rate and you pay them to give them your money. so it's a form of a tax on savings. liz: what worries you most here? is there a trigger you are looking at where you hit a certain point? let me rephrase that. what are you looking for that is that screaming signal that will tell you now you get it? >> well, look, t

themselves off from the capital and need cases have been confirmed around the world including germany and japan. in the contest of deadliest bugs the new coronavirus doesn't even come close to the order from earlier flu but tables turned dramatically when it comes to the ability to strike fear in the masses and this fear is also bringing out the racist in some people with the chinese diaspora in canada among those at the receiving end our friend of mine has told me the other day she dropped out her daughter and her daughter was just having a bad day she's 3 years old and. the daycare teacher kept saying if she said is she ok and she kept having to justify herself and say no we haven't traveled or we've been back to a certain amount of time i have one friend a colleague of hers went around to everybody who was asian in her office and says are you trying to lose are you through china are you chinese has become a frequent question faced by canadians of asian descent chinese school students whose parents have recently visited china have been urged to stay at home for a while in france a local newsp

me what is troubling, even before the coronavirus, if you look at the fourth quarter data in germany and japan, those countries, and italy as well, the growth is already slowing down to recessionary levels. so this is just going to push them over the edge, and this could potentially lead to a global recessionary environment. michael: in terms of indicators, you probably want to see some evidence the virus has slowed a bit or perhaps if there is even hint of a vaccine in the offering, i think the market takes a happy pill, and we're off to the races. barring that, it is going to be a pretty painful process, i suspect. jonathan: many people have sat here and said we are down in the efficacy of central banks and the ability to step in. if they did step in -- and i'm not ready to have a judgment on what they did step in -- but do you think that could be the circuit breaker for this market? if chairman powell says, it is going to be ok, we will do the right things. yes, downside increase have increased, but we will be there to lengthen the cycle and to do whatever it takes, would that be enough? mi

longer the situation continues, the bigger the risk some countries are already struggling germany stagnated. japanacted more than 6%. posted the weakest growth in years. and on top of that, you get the krugs. several countries including japan and italy are at risk. >> looking at your notes, over 90% of businesses with direct impact are headquartered in the united states. so the u.s. is vulnerable. mexico is a viable alternative for a lot of the key supply chains here. how much does mexico stand to gain >> if you could switch the players quickly, mexico would be an option especially based in the u.s. because of geography. but we have the problem of the trade wars overall, the u.s. is impacted by the coronavirus outbreak in china now spreading to south korea and italy. more and more countries are impacted and growth will be slashed. >> thank you for being with us >> marriott international says the coronavirus will drive the fee down as this disrupts travel and occupancy rates. the impact cannot be estimated echoed by booking holdings which released a lower than expected guidance for q1. >>> apple pu

has become the world's largest emitter of greenhouse gases followed by the us india russia and japan. germany is number 6 on the list responsible for 2 percent of global c o 2 emissions. it's estimated that about 90 percent of people in the countries of the pacific have to breed toxic. the reasons are different of course traffic dependence on fossil fuels bonding forest. in many countries. because it produces large quantities of carbon dioxide a young woman has. after every harvest thailand's rice farmers burn off the remaining rice straw stubble to clear that. the acrid smoke carries far and wide on the wind. in the northern province of lampung the harvest is underway since early in the morning women have been out in the fields cutting the sheaves with their sickles. fish there's a lot of straw left on the field typically a kilogram kilogram of rice if it's left to rot it will release me face a potent greenhouse gas but burning the straw emits a c o 2 and creates fine particulate matter that's harmful to people and the environment. wants to change things after completing her studies in bangk

i kind of guest germany or japan.y because of the political machinations going on. >> there are 30,000 functions on the bloomberg and we are showing you are favorites. maybe they will become your favorites. here is another function he will find useful. it will lead you to our quick takes, where you can get insight into timely topics. here is a quick take from this week. >> de carbonization is a key factor in the fight against climate change. the goal is to reduce our been dioxide emissions around the world as soon as possible. >> our planet cannot be saved unless we leave fossil fuels in the ground where they belong. >> de carbonization involves sweeping change and incremental steps, working industry by industry, process by process, in every major country of the world. sound expensive? it will be. the science community agrees we have no choice but to mobilize and take on this monumental challenge. renewable energy like wind turbines and solar panels, as well as electric cars, are more popular topics, but there are key

the ones that are most vulnerable will be germany, japan, korea, older economies that create capitalan you explain to people who would not have thought about this, the chain reaction you are seeing? is this a snowball effect? jeffrey: we have seen this at other times with events like this, and it takes a while to understand what component we will be short that will end up shutting up -- shutting down activity. the one we are watching in the commodity markets is palladium, when it gets so tight that you start to shut down auto manufacturing. you don't know that you have hit one of these physical shortages until you hit them. tom: how do you get to a sustained 63 on oil, given this gdp outlook? me --urria would say give angel gurria would say give me .4% gdp. .effrey: .4% inch -- in china you are living it here today. given three months, you will pop back up. that is the dilemma, you are living through it today and any type of policy stimulus will be further down the road. on: what is your account saudi arabia, russia, and opec? does america manage the shock of microeconomics for now o

and we discussed last hour, a lot of economies were quite weak going into the coronavirus japan down 6%. germany was struggling so much worse will this make the picture look are we talking a global recession which understandably is not well defined. >> absolutely. if we think in terms of economic activity just putting the markets aside for the moment, while we had manufacturing in contraction mode for much of 2019, some of the world's major exporters, you know, namely japan, germany, even looking to italy, you know, services and consumption have really carried the bulk of economic activity, employment gains, wage gains if you think of someone hobbling on a crutch, services and consumption have been our crutch and now all of a sudden you knock the crutch away, you have a major issue in terms of economic output across the world. >> so if that's the case, talk to us about just what the first quarter gdp numbers might look like worldwide and importantly the u.s. is not that exposed about 13% of our gdp is exports. so, about 1% gdp number for the u.s. sound still about right to you first quarter? and