ian bremmer of eurasia group. we begin the analysis. we are thrilled dr. mer could join us this morning. i am going to start with lebanon. i want to go to henry kissinger's world order, the wonderful book of a few years ago, where dr. speaks about the kissinger where dr. speaks about the decline of the state. ship ofhey right the what was once the jewel of the levant? dr. bremmer: my god. any of us who have been to beirut know that it is our favorite city in the middle east. it brings together so many different civilizations and cultures. but the government is a disaster. frankly, coronavirus doesn't even hit their top three right now. it is a massive financial crisis , incredible economic , andaction, big corruption now, likely through mismanagement, you see what they have done with the banking system in the sanitation system, it shouldn't surprise anyone that they have no capacity to deal with hazardous materials. you see the untold depths of swath ofon of a good the jewel of the country end of the region just leveled yesterday. it is horrifying to see. h

that is ian bremmer of eurasia group. we will have coverage of the fourth night of the democratic convention starting tonight at 9:00 eastern time as joe biden except his party's nomination for president. ons is "balance of power" bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television radio. we turned to mark crumpton for bloomberg first word news. , in: as you and ian bremmer russia the opposition leader was hospitalized for suspected poisoning. the anti-putin politician is in grave condition. aids believe something was put in his tea while he was meeting with activists in siberia. china says trade talks with united states will take place soon. the two sides have been expected to talk last weekend about progress on the phase one trade agreement. president trump says he called off those discussions, saying i do not want to talk with china right now. on thesident will call united nations security council to restore all nuclear related sanctions on iran. it is an attempt to kill off the

isterial "the ian bremmer knows every word of that.is doing one of the coolest things in international relations. ian bremmer escapes every summer to nantucket, and you think he is leading the big life, but what he is doing is leaned over a desk working like crazy on his next book. that next book we are in anticipation of, "the crisis we need." what is the crisis we need? ian: you would like to believe it is coronavirus because it is the biggest of our lifetime. as we all know crises give us the opportunity to respond to things deeply broken. in thisrd to see environment that we are taking advantage of the opportunities this crisis affords us. andbook is all about that other such opportunities on our horizon. as we jump from news item to news item, the secretary of state making convenient trip to israel so he can speak from jerusalem to support his president with his evangelical base. comment on the appropriateness of the secretary of state speaking at a convention from jerusalem. ian: there is not much this administration is concerned

speaking with eurasia group president ian bremmer. this is bloomberg. ♪ hike!aud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. but what if you could stdo better than that?k. like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we will begin with foreign relations. with the democratic convention

we were talking to david and ian bremmer about that.-- start significant conversations. they are concerned about alliances and rebuilding alliances, particularly in europe, and also restarting and recommitting to the transpacific partnership, which threatens china. aey are also concerned that biden administration would be tougher on human rights issues, particularly around hong kong. that is a concern for them. but they would be optimistic that they could sit down, restart conversations on some of these issues. i don't think they are under any illusion, but the view here is a strategy in the u.s. whether ,iden or trump remains the same and the tactics may change but the strategy will remain the same. david: can we make progress on soybean and trade with huawei and tiktok looming? tom: that's another key question. both sides seem to be saying you can continue to ensure the phase i deal holds up. we've heard that from administration officials in beijing and in the u.s. whether or not you can isolate that from technology concerns is a key

joining us now to talk about the applicati implications is ian bremmer. marking a new peak in terms of the tensions between the u.s. and china over the last three or four years? >> i think it really is. it's an unprecedented move from the u.s. government in the consumer technology sector we have never seen the u.s. do this before. these are against indecrecrediby important tech firms a lot of people have connections here with people in china and probably will lead to significant retaliation from the chinese government which they had not done before. for example, putting american corporations on the unreliable entities ist, big american tec companies as well. you clearly can say that we have a technology cold war right now between the two largest economies in the world and given the importance of that sector and the growing importance of that sector through the global economy, that is a pretty critical move. the biggest things that happened in terms of globalization, biggest single step that i have seen in decades. >> do you think, ian, that the chinese wi

ian bremmer with us in the 8:00 hour. it will be a good time to catch up with dr., a number of themes including the secretary of state speaking to the republican national convention, speaking, i believe, from jerusalem. stay with us. you need to know risk on, futures up 25. this is bloomberg. ♪ ritika: this is "bloomberg surveillance." some of alibaba's biggest investors have invested billions of dollars of u.s. shares in hong kong stocks come in part to avoid u.s. actions and the delisting of major chinese tech companies. prompting investors to take measures to avoid the fallout. china's banking ringleaders leaders have pledged -- pledged hong kong as its banking hub, recommitting to opening the chinese banking sector. the comments came during a deepening standoff with the u.s., forcing global banks to walk a tight rope between the two world powers and competing roles. that is your bloomberg business flash. tom: thank you so much. we need an update from christopher ailman, chief investment officer of a giant pension fund. he is looking at the giant headache which

president trump has talked about reciprocity, and ian bremmer has backed that up, saying he has a goodoint. china does not allow google or facebook or other companies to should in china, so why the u.s. allow others to do the same? certainly a good point. china is a communist system, it has always been. u.s. companies who enter china are fully aware of that. on the contrary, the u.s. is a capitalist system. the chinese companies who enter here play by capitalist rules. scarlet: unless they change, and it depends on who is in power, it is not known what they do with that information. you,e: not arguing with just pointing out some of the dialogue that is out there. thank you. still ahead, one man's trash is another investors treasure. we will speak to republic services ceo don slater about the company's earnings upside. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. industry is seeing high demand off of the pandemic, and republic services gave their earnings this week. -- don slater is here slager is here. last time we spoke with you, residential volumes were u