we will have a preview with steve engle next.is bloomberg. ♪ ♪ rishaad: hong kong chief executive carrie lam is set to deliver that delayed policy address shortly. stephen engle as outside the legislative council building in hong kong. ?hat is being expected >> we are waiting to see what her tone is. obviously carrie lam is not as embattled as she has been in previous years, especially last year when she was basically forced out of the council building behind me and did it off-site because of the protest movement happening a year ago. this time, it is much more calm. it is a tense calm after the national security law was implemented on june 30. she is going to be here to lay out her vision that her boss, xi jinping, laid out last month in the city across the border in shenzhen, which kind of preempted her original date for her policy address because xi jinping was laying out his plans for the so-called greater bay area, greater economic integration. hong kong, macau and the cities of guangdong province. she will lay out some of t

stephen engle from the streets of hong kong.e will have more perspective on carrie lam's address ahead. we will hear from port shelter's richard harris in the next hour. this is bloomberg. ♪ haidi: president-elect has introduced the foreign policy experts he plans to nominate, declaring that america is back. let's bring in emily wilkins in washington. nominees reflect what he plans to do in his four years in office? echoedhis nominees have biden's own stance that america needs to rebuild its relationships with allies. fromard a lot of contrast these nominees to trump's america's first approach and the individual trump had running his national security team. had the newsday we janet yellen was the topic for treasury secretary. it sounds like she may have a few administrative challenges, getting access to $455 billion in funds if she gets that job and starts. emily: right. this is the funding that steve mnuchin clawed back from the federal reserve next week. that already irked democrats, but now he has moved that money into a gene

david: stephen engle. business you your headlines.op apple supplier said to be shifting production of macbooks and ipads from china to vietnam to alleviate any trade threats. plant inbuilding a vietnam which will come online next year. that is below the midpoint range. ever grab would receive about half of that. disney will cut another 4000 jobs. disney has cut 32,000 jobs since covid-19 struck. that is more than one tent of its total -- 1/10 of its total workforce. there is plenty more ahead. futures are mixed right now. the dollar is a little bit on the front foot. next, we will get you callsiew of the morning to get you started this friday morning. keep it here. this is bloomberg. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, des

our chief north asia correspondent, steve engle, is in hong kong.ransition of power in the u.s., vice president biden was fairly .riendly to china over the years, he seems to have followed president trump's lead in becoming tough on china. how is it playing out with hong kong? stephen: president-elect biden has been fairly tough on the chinese leadership with regard asa record on human rights well as outspoken against what happened in hong kong with the imposition of the national security lot. it has yet to be seen what a biden administration, if it does the to fruition, given uncertainty in the united states . hits uncertain what we are going to get from the biden administration -- it is uncertain what we are going to get from the biden administration. any continuity is unclear. one thing we do know is the trump administration is still keeping beijing's feet to the fire on trade and on hong kong and on china. though we had a treasury department statement adding four more chinese officials to its specifically designated nationals list but did not gi

stephen engle joins us from hong kong. this meeting, a reflection of greater scrutiny? >> absolutely. regulators in china do not want to see risks popping up in the fragile recovery in the economy, coming from the financial services industry. ant group is a large, diversified financial services group. it has online payments. it has lending. it has asset management. of course it has insurance. that is the other may cornerstone of the ant group which is going to start crating in this world-beating ipo this thursday, november 5. we do know the main regulatory body, the banking regulator, as well as the securities thelator, the fx regulator, state administration, foreign exchange under the people's bank of china, met or invited let's say, invited jack ma as well as the chairman and ceo of ant group, for what i guess you could call eight talking to. basically explaining your group is going to be regarded as eight financial services group, holding company, a financial holding company. and therefore will be subject to the restric

thehen engle he is tracking developments and joins us from hong kong.ng from regulators. do we have any more idea about this meeting? christian: china has been -- stephen: china has been imposing demands on conglomerate like ant -- conglomerates like ant to curb the industry, especially as the economy is emerging tenuously out of the pandemic slowdown. ant specifically has been hit with a series of new rules. use toon its asset-backed securities to fund quick consumer loans. this is a broad financial services company. alipay payments but lending, asset management, insurance, and chinese regulators, you mention, including the securities regulator, the banking regulator, the state administration of foreign exchange, the foreign-exchange regulator under the pboc, they have all summoned jack ma and other executives of the ant group. and according to the posting by the government, it was a supervisory interview. no further details were given in that announcement, but people familiar with the situation are telling bloomberg they were told those executives, in

inomberg's stephen engle hong kong.iving us the view from the other side of the pacific. that does it for this edition of "bloomberg technology." all of the we have election covered, what is happening in various states, and you can follow us live streaming on twitter. and follow our global breaking news network quick take on twitter as well. more on bloomberg television after this break. ♪ ♪ shery: more coverage of u.s. election results continues. come "daybreak asia," "daybreak asia," to i'm sherri -- welcome to "daybreak asia," i'm shery ahn. haidi: our top stories, joe wisconsin and michigan. the trump campaign sues over access to vote counts. uncertainty gives wall street its biggest rally in months.

haidi: stephen engle in hong kong with the latest. let's get you to karina mitchell with headlines. >> australia needs -- knows what needs to be done if relations are to be eased. the minister of commerce says beijing is pragmatic and healthy ties must be nurtured on both sides. ties worsened after prime minister morrison called for an inquiry into the coronavirus. traders to stop buying seven commodities. the latest act has georgia handng for a hand for recount that should be completed by next week. it concluded with joe biden leading by 14,000 ballots in a state where 5 million people voted aired the trump campaign has claimed widespread a regularly's but has offered no absence. near state's closing bars and restaurants starting at 10 p.m. as u.s. hospitalizations set a record. europeanis the first country to surpass 50,000 deaths what germany its highest daily fatality. elsewhere, brazil is resuming trials of its vaccine claiming the original band was political. -- ban was political. [laughter] still ahead, we get insight into the

joining me nbc news chief foreign correspondent richard engle, who's been following the vaccine sincehe very beginning. richard, take us through it. >> reporter: so we talked a lot about the oxford vaccine, the astrazeneca vaccine, oxford being the research arm, astrazeneca being the production arm, the corporate sponsor, a lot. it was one of the first ones out of the gate. it was very promising. it was the leader, and then it went quiet a little bit as the american vaccines started to announce their results, announcing exceptional results from pfizer and moderna, with both pfizer and moderna saying they were 95% effective, which is incredibly high. higher than most virologyists could believe. oxford said the vaccine is 70% effective, but with a tweaking of the dose you can get it to 90%. they found much to their surprise that actually if you give people all three of these vaccines or two doses, by the way, you have to get one and then a booster later. the researchers with ox fared found that if they gave the volunteers, the candidates a small amount of the vaccine and then waited and

few days with tn election o the doorstep, but thankfully there is a group of nuns in the south of englhave lir vocal talents to a new, soothing, classical music album. and it is topping the charts. ♪ >> in tough times, music speaks louder than ever. and it sms the connected voicesp have unwittingly to a market of people in need of spiritual healing. back in the pre-covid existence, music executivescopproached the unity of sisters with an idea for an album, blending their playing chant with a 21st century chilled out vibe, perfectly designed for headphe wearing masses looking for a moment of escape. the group of women took a vote and decided it could beun. >> when we received this request for this album, we thought it was a good adventure for all of tdo this together as a community. and it brings a lot of joy and energy to theommunity. it is part of our prayer.. >> fortunately, all but one of the recording sessions has completed before england's first lockdown hitand the composers had enough material to make the album. >> we love singing. we love music. and when it is a good sound, it i

engle with the latest on the virus. seeing the markets off of session lows. they were off by as much as 12% earlier on. on friday when they had these , they hadg measures already declined. treasury wine had earlier given an update with its plan to shift to tryry away from china to divert labels from china as they are being hit by 169% when it comes to those tariffs. it doesn't look like investors are buying into their planning for years of negligible demand in china. we'll continue to watch that stock and other movers throughout the course of this session. this is bloomberg. ♪ haidi: let's trick -- take a look at treasury wines. asir opening lower as much 12%. repairing some of the damage but there.own by 6% this after friday when we had that stock almost crash, being hit by duties of almost 170%. looking to divert their brand to other markets. limited scope for the recovery for its product. the asia more from agriculture report. taylor, with mitchell and he called this move completely devastating for the injury -- industry. anys hard to describe it other way

away he dedicated himself to granting dying people their last wish in the northern german town of engle he goes the extra mile in honor of his late wife. our task today is to pick up our hats and are at the low end c.s. hospital in gondor because they. are frank fans lowe and his assistants are ready whenever a terminally ill person in northern germany would like to go for a ride but ters are free of charge the stuff volunteers he has his own specially fitted ambulances their mission is to fill a dying person's last wish so they know him and has been a hospice for several weeks the 55 year old has turned cancer. the doctors say her choose an operable because it's too close to the spine. today she'd like to return together with her son and his fiance to determine where she grew up. even past the happiest time in your life some place that it's just nice to be back there again and to be quiet to just breathe to feel. we'll manage just fine. moments hometown is just half an hour away she was given morphine for the pain a man who trains paramedics for a living vents low tries to fulfill his

away he dedicated himself to granting dying people their last wish in the northern german town of engle he goes the extra mile in honor of his late wife. our task today is to pick up our passenger at the low end c.s. hospital and got there because they. are frank fans low and his assistants are ready whenever a terminally ill person in northern germany would like to go for right bitters are free of charge the stuff volunteers he has his own specially fitted ambulances their mission is to fill a dying person's last wish so the annoying one has been a hospice for several weeks the 55 year old has turned cancer. the doctors say her tube is an operable because it's too close to the spine. today she'd like to return together with her son and his fiance to the town where she grew up. even past the happiest time in your life some place that it's just nice to be back there again and to be quiet to just breathe to feel. we'll manage just fine. nobody's home town is just half an hour away she was given morphine for the pain a man who trains paramedics for a living vents low tries to fulfil his pa

away he dedicated himself to granting dying people their last wish in the northern german town of engle he goes the extra mile in honor of his late wife. our task today is to pick up our hats and are at the low end c.s. hospice and god that has a. frank fans low and his assistants are ready whenever a terminally ill person in northern germany would like to go for write letters or free of charge the stuff volunteers he has his own specially fitted ambulances their mission is to fill a dying person's last wish servian oil and has been a hospice for several weeks the 55 year old has turned cancer. the doctors say her tube is an operable because it's too close to the spine. today she'd like to return together with her son and his fiance to the town where she grew up. if you think past the happiest time in your lives someplace then it's just nice to be back there again and to be quiet to just breathe to feel. we'll manage just fine. no one's home town is just half an hour away she was given morphine for the pain a man who trains paramedics for a living vents low tries to fulfill his passenge

, zoom functions and also, of course, maybe most importantly, many thank yous to professor jeffrey engle, a fantastic colleague, collaborator and friend. we worked on a project that will be out next year. look for rethinking american grand strategy. jeff wrote a great chapter in that book. in any case, i want to do a few things today. i'm going to give you a march-through of what happened in the pandemic of 1918. this is something i started studying years ago when i was studying world war i and domestic politics. when i taught it to my students they were much more bored, more interested in world war i but not anymore. we are more attuned to the previous lessons we can learn to the pandemic that's most comparable to the one here in 2020. i'll give you a brief talk about that history, and then i'm going to telescope out periodically to make some comparisons to 2020 and think more globally. u.s. story with u.s. dimensions and periodically will pause to sort of reflect on questions of comparison, historical comparisons, differences and similarities. recently i organized a round table of some

martin engle men travel to central america for the 1st time in 2008 in a small village in the rain forest of southern mexico he encountered the left hand on descendants of the mayans whose ancestors fled to the forests from spanish conquerors anthropologist alice powers and nearly often travels with a woman. she lives with the electron gone 6 months a year and speaks their language the entrance of the cave of the gods see back from dawn's believe this is where the souls of the deceased are purified on the way back from the underworld to about 700 mine and on some survivors to this day. the culture can still be found will cease to exist in a very few years and for me as a photographer this is a painful realisation but i can't stop it and i had to accept that of the heart to get in this new. has arrived in the village of no ha there is no electricity telephones streets there are only a few old people left the last guardians of the group's cultural heritage. marching engelman also met the last shaman mouthpiece of the gods gone antonio. born and in the face of the mayan and owns everything i

juliette: north asian correspondent stephen engle.he open of markets in india. on indexesrd hits yesterday. we are watching the vaccine and pfizer, surging 20% in premarket trading in mumbai. we will also have an exclusive interview coming up next with the ceo and managing director with the market reopening in india. this is bloomberg. ♪ getting to the indian markets as they start off their trading day, which is starting right now. underway there, let's have a look at the nifty, which we have record highs alongside the sun sex and looking at these gains taking place -- alongside the looking at these gains taking place. governmentke modi's may have a loss. a quick look at some of the stocks, pfizer india shares our surgeon, up by as much as 20% before market, nearly 18% now, and that is on the hopes of the vaccine that is being developed to fight the global pandemic. travel stocks at the moment, a 5% gain for indigo, as well as vaccine hopes with optimism in india. the vaccine would, of course, help to open up those travel markets. , a

juliette: chief north asia correspondent stephen engle in hong kong.ing this news earlier today about s&p global in advanced talks to buy ihs market for $44 billion. we heard from dow jones this will be an all stock deal. we expect an announcement will come as early as monday. valued it at 36 point $9 billion as of friday and the stock has risen 23% this gain ofpared to the 25% s&p global. the deal will be all stock with s&p global to buy ihs market for $44 billion. rishaad: other breaking news looking tojb health, price this hong kong ipo at the top of the range is coming from the international finance review or ifr. coming up, the richest family in asia, the collective net worth has grown despite the pandemic. some saw their fortunes shrink. will run through the numbers. this is bloomberg. ♪ juliette: asia is 20 of wealthiest families have seen a rise of $10 billion since july last year. while some software to plunge amid the slump, bloomberg's top-ranked claims control $463 billion. joining us is conglomerates reporter to look at the reliance ambani

for example, right now we're talking about imposing sanctions on say, one of engle merkel's deputies as a response. well, our people believe that our relations with germany are great news. with turkey, we've seen an endless string of confrontations. let's take that time our ambassador was killed or the middle. and now this war in the caucasus south caucasus, all of this happened with turkey instigators, or directly taking part in, of course, and president everyone is personally responsible. so what is it about our relations that's so warm and friendly, where the based on in many respects our interests are aligned. it's vital for both russia and turkey. that the situation in our region is stable, addict and peace must go on both have been well, that's not very clear. russia and turkey have a lot of mutual interests in terms of trade and economic cooperation, as well as investment cooperation. it serves both moscow's and ankara's interests to work together in 2 years from moscow took and what was still you just said it yourself. that turkey was in favor of a military scenario in the so

shery: stephen engle, our chief north asia correspondent.proving trade and earnings expectations send korean stocks to a record despite virus numbers. we will have the latest. this is bloomberg. ♪ haidi: a quick check of the latest business flash headlines. says trump administration the president's ban on tiktok will eventually succeed. it is stalled in courts amid o'briens however robert says he things the president's authority will succeed even with the possible change of administration. to ann technology plans civil key components for google partces, bolstering a crucial to bring back to the u.s. it will fulfill its contract with the state rather than china and mass production could begin early next year. it concerned the development of the wisconsin plant but declined to identify any customer. hyundai is teaming up with the richest man in britain to give hydrogen powered cars a post. it will aim to supply hydrogen to hyundai which has been making fuel-cell vehicles and low volume since 2013. the power unit in its new off-road which aims

stephen engle has been following the developments.t is going on with alibaba and how much of a shadow does this whole situation, the pulling of the ipo, for the time being, hangover the numbers? stephen: you can imagine it definitely casts a shadow over the conference call with the ceo, but he wasn't talking much about that. he was talking about quarterly results from alibaba. all he said for an was that they impactill evaluating the of that now shelved ipo from ant.-- we have to see how it impacts alibaba. platform foralipay the e-commerce transactions and the like. it wasn't a great quarterly report. it wasn't bad, but what we did quarter,e fiscal first the previous quarter to the results, was that a lockdown suppressed a lot of the business activity. we saw a sharp rebound. we were expecting a similar story in the second quarter that ended in september and revenue came in line 30% up year-over-year. plateauing, and that's the indicator we got from the second quarter. in the current third quarter, next week we are getting the bigges

stephen engle, what does the data tell us? they are not going to reach the target set out for the full year. month to month, the numbers oftentimes change. september was a big surge upward, china buying agricultural products and manufacturing goods and the like. and energy, of course. out for the rest of the year it doesn't look like they will meet the pledges of buying $172 billion worth of u.s. manufactured goods, energy, and agricultural products, because in october the number fell off significantly. through the end of october, china had purchased $75.5 billion of u.s. goods, according to bloomberg data as well as china customs. that is about 44% of that big number target, $172 billion. that would mean they need to buy $95 billion worth of american goods between now and the end of the year to hit that phase one target. of course there are an out of variables with these numbers and the purchases because a lot of it is either strategic purchasing or there is uncertainty about whether trump would be in a second term, which is

our chief north asia correspondent, stephen engle, is following the developments.ong. we heard from the u.s. yesterday. what are we hearing now from the u.k.? stephen: the u.k. has summoned the ambassador from china to the u.k. to protest this move. this new law that came down from china's national people's congress standing committee, that requires basically allegiance and loyalty, patriotism for any legislative council member here in hong kong, and that ended up leading to the disqualification of four pro-democracy lawmakers here, of course, and then the subsequent resignation en masse of the entire pro-democracy camp yesterday. some 15 more lawmakers resigning or pledging to resign, and dominic raab, the u.k. foreign secretary, saying this is the second time in six months, and the third time since the 1997 handover from the u.k. to china of hong kong that it has accused china of breaking terms of the sino british treaty on hong kong. of course, the most recent one was the national security law which was imposed on hong kong and promulgated on the latest night on

quarterted third results ahead of forecast stephen engle.l us a little bit about what is baidu buying and what is the strategy behind this? >> it isn't using because of course because of the three big monsters of chinese tech, alibaba and tencent and then baidu, which is mostly a search engine in that it is also branching into other services as well and has a netflix like te, but it does not have the other elements like alibaba and tencent have to build out there all one stop shop platforms. on the internet. what they are doing is they are buying for $3.6 billion in cash live, which is a livestreaming services. it is a 1.8 billion dollar business with 4 million paying users. interestingly, it is an interesting concept but it is all part of, you know, get the interactive users to splurge on virtual gifts to their favorite performers. they do not have any service like bytedance has with tiktok. baidu is looking to adapt its search every business model to keep up with the explosion of online entertainment platforms like tiktok coming from byted

we've got stephen engle.ns our discussion on india's growth outlook. exclusive interviews coming your way next, right here on bloomberg. ♪ just gettingt -->> breaking news on the trade year, down 6.7% year on versus estimates of a 5% contraction. we saw estimates range from economists to -82 -355%. -- -3.5%. been seeing the thai baht holding at these ten-month highs and hold that heard from the finance minister trying to call that movement. but further weakness coming through in the economies there with october exports falling more than were expected. rish? rishaad: and talking of economic data, india's third quarter gdp out at the end of the week looking like we can rebound, and a sharp rebound, probably done to looser lockdown measures and pent-up demand. but it did trigger large-scale drug -- job losses. that came across the board. , right the in isaac way through i.t. recruitment. ajit, they give for joining us. these gdp numbers should reflect an uptick in the economy there. is it reflective of an uptick

shery: our chief north asia correspondent stephen engle.he ipo with razor howie, who joins us in the next hour. checking business flash headlines, the national australian bank profits slumped as the recession swelled up bad debt charges, rounding out the worst earnings seasons for australian banks in a decade. cash earnings fell 37% to $3.7 billion australian, $2.7 billion u.s. for the 12 months of the end of december. bad debt crippled anticipation for another poor year in 2021. the op. b sovereign wealth fund is leading a $700 million funding round for a tech startup back by softbank. company manages parking lots used for food delivery and other services such as testing for covid-19. ups istbank vision of among other investors. qualcomm jumped a late trade after a not the forecast for the quarter, suggesting new 5g networks are persuading people to upgrade devices. it says revenue will be as much as the $8.6 billion through december, more than $1.5 billion above analyst estimates. coming up on "daybreak asia," credit suisse and the outloo

stephen engle joins us now from hong kong. what does the data show us?: of course didn't like this can have fits and starts, depending on demand. but after september's big surge of china buying u.s. goods, we're seeing, according to bloomberg data and customs data from china, that the number dropped off considerably. under the phase one trade deal, china pledged to by about $172 billion worth of goods from the u.s. for the full calendar year. right? so far, by the end of october they had purchased just $75.5 billion of those manufactured goods and agricultural products like soybeans, as well as energy products. so that means for november and december, they will need to surpass that amount already year to date. they would have to do $95 billion more of purchases by the end of december to meet their stated and signed goal under phase one trade deal. october,rop we saw in nearly a 60% drop in crude oil purchases from the u.s. by china. so, energy really dropped off. in fact, purchases of energy products are only about 25% of their stated target for the full

shery: bloomberg's chief asia correspondent stephen engle.ck of the latest business flash headlines. another tech giant reports from china, saying huawei is to sell its smartphone unit to a company controlled by the state asset regulator in shenzhen. the article gives no financial details of the deal and comes one week after a digital china said it had not reached any agreement to buy the operation. there has been reports that huawei was trying to sell the operation for about $15 billion. chinese ride-hailer and delivery startup didi says it plans to rollout an electric vehicle within months. the d1 has been developed with the e.v. maker with ride-hailing in mind and will ship to its leasing partners in cities across china. didi has already defeated uber in china and has one million ev's on its books. berkshire hathaway is its biggest shareholder. a top chinese carmaker with close links to the west and the leading have announced debt defaults, highlighting the glorying -- the growing distress among state linked firms on the mainland. brillian

annmarie: thanks to stephen engle. such a beautiful backdrop in hong kong., i odd or calling the -- iata calling the urgent reopening of borders supported by widespread testing. we speak to tim clark. manus cranny back with us next. this is bloomberg. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. ♪ annmarie: good morning. 6:30 a.m. in london. this is "bloomberg daybreak: europe" and these are today's top stories. u.s. futures flat this morning, but s&p's all-time high yesterday and the dow crossing 30,000 for the first time feeling momentum. it is far from a quite thanksgiving. risks remain. france will gradually lift the nation's lockdown on saturday.

one is your idea in the dead of winter, the winter of our discontent, and stephen engle of standard charteredpings are so grim, the fed may act for the december 16 meeting as well. what is the urgency for the fed given your winter of discontent? ellen: the fed is in a tough spot because financial conditions are very easy. the markets certainly have not seen the kind of data that they typically would need to see in order to fall apart in a way that would get the fed to respond. hand, because financial conditions have not tightened and they have said they have done enough, stimulating the economy for now, unless financial conditions tighten, they will not act to offset that. but on the other hand, the cost of doing something like extending the duration of their asset purchases, putting further pressure on long-term rates, doing something like that in the december meeting is very low cost. is indecision among fed policy makers of, is that really necessary? is it going to be pushing on a string? that is why they continue to call strongly for fiscal policy to do more. this economy needs more suppo

stephen engle joins us. retail investors here in hong kong are not happy. hong kong residents, 1.5 million retail investors, had signed up for the ant shares. many borrowed on margin, they are counting their losses. interest rates on the five-day holding for margins were upwards of three point 5%. reports this morning say hsbc and bank of china hong kong could pocket upwards of $25 kong, in interest income, and this is not sitting well with many smaller retail investors. al listing attracted nearly $3 trillion in orders from individual investors but some people are calling for rope riches and some smaller banks, unlike hsbc en banc of hong kong, to share the pain. and they have even called for ant to pick up the tap. while that unsettled behavior is happening here in hong kong, in china it is a dual listing, and the government has perhaps a bit more of a heavy hand. the securities regulator is giving instructions to ensure the subscription fees could be returned to investors in an orderly matter. share refundsid a could begin today. and the regulatory or --

away he dedicated himself to granting dying people their last wish in the northern german town of engle he goes the extra mile in honor of his late wife. our task today is to pick up our passengers at the low end c.s. hospice and god that has a. frank fans low and his assistants are ready whenever a terminally ill person in northern germany would like to go for write letters or free of charge the stuff volunteers he has his own specially fitted ambulances their mission is to fulfill a dying person's last wish serve you know even has been a hospice for several weeks the 55 year old has turned cancer. the doctors say her choose an operable because it's too close to the spine. today she'd like to return together with her son and his fiance to the town where she grew up. if you think past the happiest time in your life some place then it's just nice to be back there again and to be quiet to just breathe to feel. we'll manage just fine. nobody's home town is just half an hour away she was given morphine for the pain a man who trains paramedics for a living vents low tries to fulfill his pass

stephen engle has been covering that story. carrie lam did cover a lot of ground, sparse on details. what can we expect? stephen: i believe this is a live feed we are getting right now of carrie lam. she is now talking to lawmakers. has someurse explaining to do on some of the announcements that she made. a lot of the news words he -- newsworthy announcements were things like the removal of the stamp duty. that as theadjust supply cost ratio is still fairly tight. add -- mainland exchanges will throw some money at the tourism sector which has been battered by the pandemic. more money earmarked for the crated -- creative industries. the broader brushstroke messages and the bulk of more than two hours speech yesterday was about her vision for greater integration of hong kong with a greater bay initiative, which of course was outlined in greater detail by xi jinping last month on october 14, which preempted the original policy address from carrie lam which was delayed until yesterday. not a lot of details on how they will carry ou

haslinda: let's bring in our chief north asia correspondent, stephen engle, in hong kong. does this leave hong kong's already tenuous democracy movement? stephen: democracy is messy, right? look what's happening in the united states. what is happening in hong kong is when democracy meets the authoritarian force that is beijing. beijing passed a law that would allow hong kong authorities here to disqualify legislative council members if they are deemed to be not patriotic, not loyal to the cause of the mainland, of the communist party , and ultimately what xi jinping decrees. force,in this immovable if you will, but these pan-democratic camps have said your disqualifying 4 of our members, we are quitting en masse. that is what they announced yesterday. we talked to one of them earlier this morning. of was right in the middle drafting her resignation letter, and we are expecting the 15 remaining lawmakers to submit their resignation letters at some point today. that leaves the legislative council here, which is supposed to be the ultimate aim in basic law of hong kong after

let's get to our chief asia correspondent, stephen engle. -- they called off the ipo. >> i think it isny things. first of all, you can look at the regulations the chinese authorities want to limit on such fintech groups as ant group . the government and authorities 12 regulated as if it is a financial holding company. they are also concerned about plays bythat ant facilitating loans from banks to consumers. you later say charging high fees and leaving all the risk on the balance sheet of the bank. they want ties or forward a not -- a not -- a lot of new regulations. was not enough to put the kabbalah -- was that enough to kibosh on the ipo? havees not seem like they their ducks in a row to do that at the last minute. surely they knew what ant was all about. or is it more of a political issue? the chinese communist party exerting its power and putting its thumb on jack ma for saying some off-color things at a commun conference. haslinda: this issue will hang over alibaba's earnings report later today. >> yes. open, were the u.s. are going to get the alibaba numbers. .hey are going to be

shery: stephen engle there. one investment firm that is heavily invested in china is kkr.nder exclusively told bloomberg that no matter what happens, china will be a focus for the firm. >> we are focused on china relations. china is an important part. you can't ignore china. china is not going away to by any stretch of the imagination. it will be there. it will be an important part of our focus, and it is also an important place where we continue to invest. have been investing there for 12 or 13 years now and we will continue to do that. maybe we have more issues at home then we have around the world. you have to be aware of it. world doesn't work that way. we don't look at it that way either. theant to know, what are disruptors? it can be a disruptor of technology or because of a geopolitical issue and that is what we are looking at. how do we take advantage of it? what can we do to invest into that? aware of theenly political issues at home. how do you prepare for an election like this which feel so momentous, both personally, but you're a long-term investor. you have to

and also, of course, most importantly, many thank you's to professor jeffrey engle. jeff is a fantastic collaborator and friend. we worked on a project that will be out next year, look for rethinking america, grand strategy. jeff wrote a great chapter in that book. what i want to do today is a few things i'm going to give you a , march through what happened in the pandemic of 1918. this is something i started studying years ago when i was studying world war i and international and domestic politics. when i taught it to my survey students, they were much more interested in world war i. but now, with no such thing. we are attuned to the historical lessons we can learn from the previous, sort of most significant global pandemic comparable to our current one in 2020. i will give you a brief and hopefully compelling talk about that history. then, i'm going to telescope out and make comparisons to 2020 and think more globally. i will give you the u.s. story with international dimensions and we will pause to reflect on questions and historical comparisons. differences and s