of alibaba towards the end we see quote i think cloud will be the main business of ali baba in the future and quote this was back in 20 but why are companies like amazon so focused on these cloud services. well because it's a massive new space and there's so much room and so you still consider the fact as you said that alibaba and amazon are essentially the same company in terms of being these online retailers where you go in there and your you buy stuff online have a sense your home what's interesting about these companies is they have very similar trajectories in these other spaces they want to involve themselves in the difference between amazon amazon an hourly bob is that alibaba is primarily has its strength in obviously asian markets and specifically in china the number one market place in china and was on globally is larger in this space and certainly globally larger in terms of cloud computing but that's where alibaba sees an opportunity so they're saying this is a $100000000000.00 opportunity just in china itself to take over all that cloud computing because what they're seeing i

alibaba uses the a link platform to help with statistical analysis machine learning and with generating personalized product recommendations one hurdle may be understanding the descriptions as for now these are mainly in chinese. much of china cyberspace remains cut off behind a great fire wall so the fact that chinese tech giant alibaba made the algorithms behind its ai platform public is a hugely surprising step one open source developers probably dreamed about in the pioneering beginnings. when the computer age was software was free to use then came the 1st companies that sold software for money and slowly programs became proprietary secrets the open source movement was a response to this development idealistic coders wanted to reintroduce freely accessible code and to this day open source those key principles it's free for everyone to study and use access develop and distribute. and everyone should contribute something. among the best known open source projects today are the firefox browser the operating system linux and the online encyclopedia. but open source software is not free

we are fully powered by alibaba's technology now.e supply chain, both from selling cross-border products, but working with suppliers to supply our local suppliers so they can still more efficiently on our platform, and helping to integrate the whole supply chain from the origin of the product to the end consumer. the last point is about the learning. every time we go through a challenge, it is something alibaba has been through before. they have always understood and respected that daraz is its own unique region and we have to have a localized approach to the market, but they are willing to help and i would say they have -- i haveised about been surprised about the level of support every time we reached out and asked for help. rishaad: you've got all of these countries surrounding india. of course we've got very little trade between india and pakistan as years of animosity have led to that. do you have any plans to break into that country? bjarke: no. i think india is a market where there is already a number of large e-commerce playe

have tencent, alibaba, also tim cook. we have a lot of very well-known financial investors.where they large institutional investors? jean: a mix. david: when you joined, it had a market valuation of $500 million. let's suppose i say i like what you said and i would like to invest at a $500 -- $500 million evaluation. could i do that today? david: no. running one of the biggest companies in china. how do you keep that from going to your head? jean: it is a very challenging job. i now know it is about people. it is about safety. ♪ david: how do you get to work? do you take one of your -- jean: yes. david: if you do not like the service, what do you say? jean: we have this assignment that we have to drive as well. did it with my colleague and we pick up this young guy. my colleague introduced to him this is our president and we would want to survey you. he did not seem impressed. he said whatever. he said why don't you give me some coupon if you want to survey me? i guess i'm not a celebrity. david: you are widely viewed as one of the most powerful women in business in china, a

david: most chinese companies that are technology leaders like alibaba, tencent, baidu, have dominantitions in china but so far they have not taken dominant positions outside of china. now you are taking positions , outside of china and building your business outside. have you been very successful outside of china so far? jean: i wouldn't call -- you know, we are very successful and we see very encouraging results. we are in brazil, mexico, colombia, in the latin market, and we are just entering into the australia and japan markets. david: how do you have to change everything for the different markets, are there different qualities you have to bring to the table? how do you make your service better for these countries? jean: i think we provide our service to the local people by combining two things, one is our global technology architecture, and then local innovation. we tailor make products for different markets a product in . -- markets. a product in brazil and a product in japan are very different. unlike other companies who do copy-paste. cookie cutting for all the markets. it is

the likes of alibaba and facebook, etc.going out or unicorns,ese larger there is a secondary market. there are exits if you choose to. the exit options are also opening up. there is change in markets. tech companies actually get the u.s.. and the more recent years, some have chosen hong kong. others are now looking at china. recent, just a few days ago actuallyna, it is relaxing the rules or changing techules to welcome companies or tech startups. the markets are opening up. they are creating more options. i will also say this. variedt environment is a one. oftentimes for investors like ourselves, m&a will juggle through the narrative. you do see some of these happening. many of these conversations are happening. unicorns would actually make the acquisition. in times like this. jixun foo, we thank you so much for your insight today. plenty more to come. how bad things could get for china's aviation sector. still well below virus levels. more to come. this is bloomberg. ♪ yvonne: they are joining the optimism we are seeing i

alibaba is set to invest 28 million dollars in cloud infrastructure upload three years.y plan to build more data centers. alibaba says it will continue to develop its own areas such as ai to support its cloud ventures. boeing has suffered a new blow because of its grounded 737 max. a terminated order for planes. they are ending plans to take 29 of the troubled chats as the andnavirus strangles travel the plane remains unable to fly. they have the sony max jet on order. rishaad: big movers right here at the moment. up 19%. this is a railroad equipment maker. nowadays you do more from home than ever before. the xfinity my account app puts you in control with digital tools to give you the help you need when you need it. get fast and easy answers with personalized help 24 hours a day, 7 days a week. change your wifi password to a phrase that's easy to remember. even troubleshoot your services on your own. we're working to make things a little easier for everyone. download the xfinity my account app today. you are looking at live pictures, 11:30 a.m. in the singapore. like th

i like alibaba. i like jd.com as well. alibaba, i think what is happening here, as they are further down the coronavirus timeline than we are, and i think both alibaba, the biggest online retailer there and jd, are both going to be excelling from here going forward. ashley: very good. we have to leave it right there. d.r., thank you very much for your input. the markets as we can see, the dow up 353 points as we head no the long weekend. all right. >>> president trump says he's looking at two ways to reopen the economy. in sections or basically everything all at once. i will be asking bob doll what he makes of this proposal in our 11:00 hour. >>> also, new data shows grocery sales growing over 80% in march. that's good news, of course, for the supermarket guys including stew leonard's. big store here. the ceo on our show next hour. >>> school may be out because of the virus but certainly not at the hegseth household. watch this. >> what are the four subjects? >> economics, history -- >> war. >> and war. yes. boom. ashley:

. >> thank you >> mark mobius, mobius capital tim seymour, i go to you yum, alibaba and those are the kinds of names that it sounds like mark was talking about. >> mark is talking about the consumption demographic, dynamic and emerging markets that also as a veteran we've been investing in for a long time, so yes, alibaba has been very defensive throughout a lot of this crisis and i think it will continue to be we talked about their investment in cloud we talked about the earnings to, un, the growth ratio the peg ratio is very strong and how about mercado libre and russia, and where the consumer is playing some type of online e e-commerce or cloud and essentially media. these are ways to get exposure and that's how you will outperform in emerging markets and it's making ten-year lows and it will probably continue to mark mentioned the tailwind that the economies can get from this crude price. i know you're worried about japan. this theoretically should be great for japan which imports all of its energy, but not enough >> it's a tailwind for japan it's a tailwind for china and that's t

. >> really quick, before we let you go, alibaba and ten cent, can you blame investors for not wanting to touch anything highly levered to china given uncertainties in geopolitics. >> you're raising two questions, carl it's important for the future safety and security of the world, to use the president's words, that the united states get along with china and get along well it's the single most important geopolitical relationship. i've heard dr. kissinger speak about that looking at it in that context i think an area you want to invest in, as long as the geopolitical relationships are maintained and there is a deal that was made, are the really great businesses that can operate in that economy where you can count on in numbers. i think alibaba, whose president was a former top executive at goldman sachs, michael evans, is one of those companies tencent is i think another great example. i think those are two businesses i think you want to own. they will expand internationally, whether they become very active in this country or not, i don't know, but they will expand internationally and t

we're working with alibaba which has been very, very helpful to us. i spoke to jack ma and mike evans who is the president, and they have been personally gracious and very, very helpful in trying to get us through source material from china. but we're going to have to redeploy ventilators from across the system. in other words, there are hospitals that have ventilators. there are hospitals that have ppe equipment. there are private sector companies that have ppe equipment that they're not using that we're going to need to redeploy to the places and the hospitals where we need them. i had a conversation with a hospital administrator yesterday. i understand they don't want to give up their ventilators. ventilators are expensive pieces of equipment. i understand that, even if they're not using them, they're reluctant to see them go out the door. the theory is, p t if the gover gets them, they'll never get them back. i understand that, but i don't have an option. i'm not going to get into a situation where we know we're running out of ventilators and we c

the strategic once we have tencent, alibaba, also tim cook. of very well known financial investors. david: most of the investors, with a large institutional investors? jean: it is pretty diverse. david: when you joined the company, it had a markel ofrket valuation $500 million. what suppose i say i would like to invest, could i do that today? davidjean: no. david: no? jean: no. ♪ david: you are running one of the biggest companies in china. how do you keep that from going to your head? jean: it is a very challenging job. i now know it is about people. it is about safety. ♪ ♪ david: how do you get to work? do you take one of your services? jean: yes, most of the time. david: does everybody know who you are? jean: the other day, we have this assignment that we have to drive as well. we have to test the driver experience. the other day, i did it with my colleague we picked up a young guy. my colleague introduced him, this is our president and we want to survey you. he did not seem impressed at all. he said whatever. he said why don't you give me

you like, i'm just reading this, alibaba and uber. make your case. >> sure.thanks so much for having me on. so alibaba, q1 data is quite difficult but china is coming out of it, will come out of it. they are past their peak. we are kind of on our way to the peak. the china government has done a very good job as it relates to controlling a lot of this disease. alibaba is the amazon of china, plus the ups of china, plus the netflix of china. these guys are the 100 pound gorilla. i think they are very well positioned. you also find in situations like the crisis that we're in or like the 2008-2009 crisis, whether it's china or the united states, you will see a trend towards online so people will shift -- ashley: i'm sorry, we are going to have to cut you off. it's a crazy busy day. you made your case for alibaba and uber. we appreciate it. we'll be right back. there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can ev

way to get more ppe just here in the city well, that turned into a relationship that we had with alibaba and their c.e.o. daniel zang who helped work with us so closely. we've brought now more than 50 million pieces of ppe throughout the entire world and we're working to bring more ppe in even this week. look, this is a moment where business has to be the greatest platform for change because you have incredible resources with enterprises that have relationships like we do with alibaba where we can use that help to alleviate the suffering of those who have been hurt so badly. >> you're right. i should have started by saying -- i'm not taking it for granted, but it is wrecking families' lives all over the globe. it's also financially been an incredible difficult cost to bear for employees you have challenged people not to layoff people like they used to when things get tough, but to keep them on talk about the pledge. >> well, jim, i think we realize we're dealing with not only a very significant biological challenge, but we're also dealing with a very serious economic challenge and we can

from alibaba. >> jack ma and from alibaba and china. really a gift. and we appreciate it very much. it was very nice of them. all right. i think we've had enough. we'll be seeing you very soon. and i'm sure that, you know, all of us are going to be working very hard. we're working really hard. we are coming up to a time that is going to be very horrendous. probably a time like we haven't seen in this country. wouldn't you say? i don't think we've seen a time like this in the country and we're getting to that point where it is going to really be some very bad numbers. we want to keep those numbers a lot lower than they would have been. and we'll do that. we have tremendous talent working. and tremendous people. that includes governors. that includes everybody. everybody is working. but unfortunately we're getting to that time when the numbers are going to peak. and it is not going to be good looking swaigs. i really believe we probably have never seen anything like these kind ofituation. i really believe we probably have never seen anything like these kind of numbers. maybe during a

i'm interested in companies that are getting more into the cloud and alibaba is doing that.tell me what they are doing. susan: alibaba is one of the largest companies in china and arguably globally if you take a look at the statistics. they are trailing behind amazon and microsoft and google when it comes to cloud computing. number four in the world by market share. as a result of the quarantine for the coronavirus, they have noticed there's going to be a big play in the digital economy. that means people are staying home, watching netflix, streaming, doing a lot of banking online and also working from home. as a result, they are now investing some $28 billion into cloud computing over the next three years. they are focusing on infrastructure and trying to challenge the likes of amazon and microsoft globally. i think that kind of makes sense given that coronavirus has really changed the way we operate and the digital economy and cloud computing and not having physical servers, that's the wave of the future. stuart: no question, the virus is a huge boost for the cloud. if ali

sense, it is broad a road that both alibaba and tencent have been down.have invested billions. >> we don't think that is the case. chinese e-commerce is still a very fast-growing industry. we have managed to accumulate billions of dollars of transactions. amount oftill a vast consumer interest. there are further efforts in this area to bring experiences to our users. it is very important for consumers to have access to off-line delivery. this is not something that people can deliver. have they important to ability to create trust on our e-commerce platform and the consumers. given the innovation we have been doing on this model, we see the partnership is moving forward. you talked about how this is the first such investment. are we expecting more? do you see the need to raise funds for it? of march, we raised money. moneyended to raise the for over 6 billion u.s. dollars. we are looking to deploy that capital strategically in the second half. our strategy remains user centric. this will accrue to our user experience. haslinda: before we let you go, just a

softbank is historically the largest shareholder in alibaba, .6% stake emily: all right, looks like wead stone. i want to get to johnson & , theyn, the cfo earlier also have covid-19 vaccine candidates. they told us that is on track for early next year. take a listen to our interview with the cfo of johnson & johnson about the. >> things -- the outlook. >> things continue to progress with the vaccine. we were able to identify lead candidate with two backups. we are doing clinical research. hope to be first in human by september, which should lead to a readout of data in late ofember, with the hope producing one billion vaccines early next year. we are ramping up manufacturing capabilities across the globe to ensure we can handle that demand , so things are very much on track. how are you able to ramp up so quickly? my understanding is vaccines take years. >> we are able to rely on a platform in a number of other vaccine trials, so hiv, sica. -- the zika virus. we were able to use the same platform, which has a higher yield, enabling us to ramp up to high volumes. it gives us a great de

also favors tencent and alibaba. talks, fresh debates emerge.e will look at what is behind oil's renewed slump. this is bloomberg. ♪ >> we think it is highly unlikely but we are planning for the worst case. ♪ opec and its independent allies have delayed talks on the oil price. fresh divisions emerged. saudi arabia and russia indicated they want the u.s. to join any agreement on curbing production. but president trump had harsh words over the weekend. again.on again-off a little optimism but now little more negative on the story. at least they are talking about talks. >> that is a good way of putting it. the optimism was really strong at the end of last week. you saw oil prices surge. we are back down today. saudi arabia and russia were trading barbs over who started this. donald trump said he does not care for the cartel and threatened tariffs. they are still planning on meeting later this week. there is still a chance -- countries like iraq and norway say there is a chance for making a deal. we will have to sit tight this week. the market will

we have names like china mobile, alibaba, tencent among those stocks that we hold. of china, samsung electronics. those are stocks where we are arguing the stocks were reasonably priced going into this, and now significantly cheap versus the base case views. the material sector is worth a quick comment on. we are recommending gold exposure. the inner minas -- the enormous stimulus from global central banks will expand global money supply. coming out of the 2009 and 2010 event, the gold price did very well. one name weina is are recommending here. elsewhere in materials, it is important to understand infrastructure spending -- not just in china, but more general infrastructure spending, including the health care sector, will be an important driver for a name like bhp group in australia. a portfolio constructed around information-technology, communication services and materials, that will serve you better than having positions in industrials, capital goods, traditional consumer discretionary areas like automobiles. yvonne: we have seen volatility for most stocks and c

and i want to thank joe and clara sai, and jack ma from alibaba for their donation, that is going to be helpful. i want to thank ambassador wang for his help in making all of this happen, because this is a big deal. and it will make a significant difference for us. also, the state of oregon contacted us and is going to send 140 ventilators. which is, i tell you, just astonishing and unexpected. and, i want to thank governor brown and all of the people in the state of oregon for their thoughtfulness, again, this was unsolicited. but it is 140 ventilators and it will make a difference. i was thinking about it on behalf of new york and what it means for oregon. first, it was a kind gesture. i know governor brown and she is a kind person. but it is also smart from the point of view of oregon. why? because we are all in the same battle here. and the battle is stopping the spread of the virus. look at what they did in china. it was in the wuhan province. first order of business was contain the virus in wuhan. why? because you want to contain the enemy, that is always the big first step. or

we have japan and alibaba at 10 cents and the consumer demand for technology sectors is going to remainong and they're ahead of the curve versus the rest of the world as well. francine: patrick, thanks so much. we're speaking to the head of research and we'll have plenty more analysis on your markets and look at brent, brent currently actually in a freefall. if you look what we had from opec plus we had a good conversation with julian lee, oil ministers from opec plus held a unscheduled conference call yesterday to discuss crude prices but at the end they didn't settle on policy measures. the world is looking at who can prop up the price of oil or at least stop it from sliding and julian lee said one it thing we need to look at is producers across the world try to stop pumping the stuff out of the ground. also, italy with a record setting bond demand. we'll have plenty more on that. the price seemed right but actually spain receiving some 66 billion euros of orders for the sale of 10-year notes. this is bloomberg. ♪ viviana: you are watching bloomberg "surveillance." the democrats got w

we are working with alibaba, which has been very helpful to us. i spoke to jack and mike evans, who is the president. they have been personally gracious and helpful in trying to get us to source material from china. we are going to have to redeploy ventilators from across the system. in other words, there are hospitals that have ventilators. there are hospitals that have ppe equipment. there are private-sector companies that have ppe equipment, that they are not using, that we are going to need to redeploy to the places in the hospitals where we need them. i had a conversation with the hospital administrator, yesterday. understand they don't want to give up their ventilators. are expensive pieces of equipment. i understand that, even if they are not using them, they are reluctant to see them go out the door. the theory is if they -- if the government gets them, they will never get them back. i understand that. but, i don't have an option. i am not going to get into a situation where we are running out of ventilators. we have people dying because t

alibaba is tightening sales of protective equipment on its platform.y invited members will be allowed to sell ppe on alibaba.com and anyone who tries to dodge the rules will be penalties. amazon has been accused of letting people gouge prices. we are speaking to the new zealand finance minister ahead of the country easing its lockdown. this is bloomberg. ♪ shery: kiwi stocks seeing another session of games. -- gains. stocks onseeing asia course to set a two-week gain with the asx 200 the laggard this week. the futures under pressure after the house cleared the virus relief package for trump to sign. we are seeing wti gaining ground. the spread to july has tightened on slowing oil production output. let's switch out the board to focus on new zealand, stocks and wellington edging higher but set for the first weekly drop while the 10-year yield is lower. the benchmark would slip low 1% by quarter's end. the kiwi dollar holding above the 60 mark. we have seen it coming off of highs we saw in march. that could continue to decline as new zealand virus cases

of course, we have already seen alibaba do the same.hleen: we see this recovery in the ipo market not just in , and wouldt globally expect to see hong kong become more active again, and london, as the investors become more comfortable with risk-taking. we managed the renaissance international ipo that has had very strong performance relative --so the existing set of etf's representing that has done well. we are thinking the global ipo markets will open up in a similar fashion as the u.s. ipo market. shery: kathleen smith, thank you for your time today. let's check in on the first word news with mark crumpton. mark: the u.n. labor organization estimates the equivalent of 195 million full-time jobs could be lost in the second quarter alone from the coronavirus pandemic. that is a big increase from last month, when the international labor organization predicted an extra 25 million job losses for all of 2020. the agency says full or partial lockdown measures now affect 2.7 billion workers, or about 81% of the global workforce. in a rare mov