companies like baidu and others are working on driving.ars away from truly self driving. it is highly autonomous vehicles, not completely free from drivers. we will use the computer to enhance human activities. christine: you don't want to replace us. >> no. christine: mi allowed one more question? you have 40,000 employees around the world many of whom are in , china. are you enjoying a regime, and environment, framework that enables you to research, develop, anything you want? yes.etty much, christine: too much? >> [laughter] yes. china is a big market and we have a lot of engineers. we have tens of millions of users who use our services every day. a lot of data is generated. we can use data to learn how to improve our services. we do have a lot of opportunities to innovate. that being said, there are things, how do you provide , protect privacy? have you make sure this technology does not go out of control? that does bad things to mankind. tore are things that we need worry about, but i do see more opportunities than threats. all for th

managing director christine lagarde and baidu ceo robin lee engaged on this topic at the bloomberg globalrum, revealed results of an iss study that appears to -- imfy the use of ai study that appears to quantify the use of ai. christine: the finding is that and we extrapolated from countries to the rest of the world. the conclusion was quite a lot of jobs will be significantly materially affected. when we look at those 30 countries, it will be about 26 million jobs that will probably disappear. the second finding, i thought was interesting, is that because it applies essentially to those tasks that are repetitive and because there are more women doing those jobs, women are likely to be more affected than men by the impact of artificial intelligence. do you think that is true? robin: it could be true. but like i said, that is just one side of the coin. there is another side -- laboring, you can also say, it is kind of a repetitive. -- of repetitive. christine: you need to apply judgment. robin: yes, relatively simple judgment. it is not that hard. if you try to teach the computer to drive,

but it is actually very, very hard for computers to learn how to drive, although companies like baiduous driving, and we are quite a few years away from truly self driving. it is still i would say highly-autonomous vehicles, not completely free from drivers. so we will use computers to enhance the human activities. christine: you don't want to replace us. robin: right, no, no. but there is -- christine: am i allowed one more question? i want to ask you one, because you have 40,000 employees around the world, many of whom are in china. are you enjoying a regime, an environmental framework that enables you to research, develop anything you want? robin: pretty much, yes. i think -- christine: too much? robin: [laughs] yes. china is a big market, and we are a lot of people, and we have tens of millions of users who use our services every day. a lot of data is generated. we can use data to learn how to improve our services. so we do have a lot of opportunities to innovate. but that being said, there are constraints, like, how do you provide, protect privacy? and how do you make sure this t

debates thegarde impact of ai with baidu ceo robin lee.to enhance human these. >> you don't want to replace us. >> no. -- human activities. >> you don't want to replace us. >> no. ♪ this is bloomberg best. the 2018 bloomberg global business forum brought together hundreds of top executives. many spoke to bloomberg television over the course of the day. go to the ceo of ford motor company, jim hackett. >> trade is a function of equilibrium. people can make decisions because, sadly, a hurricane or some sort of fire can pitch you. you are used to dealing with that. trade is policy. i have two beliefs. it has to be updated. modernized. so many things have changed. it has to be resolved fairly quickly. what we are urging our administration to do and when we are in china and europe, we say, you need to come to agreement quickly. >> from fort perspective, them -- ford's perspective, the tariffs took about $1 billion from us. we source most of that in the u.s.. we are in a good place. if it goes on longer, there will be more damage. >> are you mak

fire duty leave him earnestly to spend fire dutifully among the slaying spends baidu didn't even mind the sleeve. leg. by the smile she's told. to stop the heart rate and. sort of your are a man or woman. a man or a very uncertain. i the spastic tool. your are amazing. says show no minus live. and please by the. and so the us and them are life. to christ gonna start again and told me. if i do would he leave a man in their sleep. by duty leave a man in the step. by duty leave a man in the sleeve there. was. i was his friend. danged me me. but i'm the. firm i was. the smarts and my own. acts. and their own the. just sort of business. but i do it in. the slurred. minus their. you. know. when you are threatening. to use them. she told me and. she told my knees. to punish her farthest from me. on foreign soil and the shooter told farland. contempt for its machine and told no move over the course and his friend from each hit by the chauffeur door. to him. and see them someone. who. insists that his son. i'm so shocked some. dancing surface. the. sun still fine. but you're a few minutes in l

baidu to leave a man in the step. by a duty to leave them in the sleeve. there. was. suspended. danger mean to me. but i knew. sam i was on. the smarts and my random. acts. and there on the. for instance a recent. thread already. i don't have the latest. but i do and it's fairly. no i. mean one when you who. can use the. stove me and. call me or find some. good money as far from the. top and far as i'm talking the fish doesn't farm because he can tell them to pull its machine tool don't move over the course and his friend moved from each candidate by the shop for all. to him. and teach them some. system somewhere. and so shall some. plants to serve then that's. it. shotguns should run. by a juror from an acidic since a shotgun starts to get jacked understands jobs turn stones get jumped on such can scream. as the scream or as music or more has become more bold. the moment has just been more askew the moment shock comes must be something more. more. more. oh. come on now. and some some good. some some good bit. i'm fish on some good. johnson service sector times some fine shuttin

the search market is basically lost to baidu.: that's exactly the right question to ask -- why is google doing this? it can't possibly believe it is going to make a dent in the search market where baidu rules. so, from what i understand google believes, it wants to do other kinds of business in china. it believes it's artificial intelligence and the cloud and maybe other business-to-business kind of services that google provides, china is a fertile and wide open market for those google services and i guess it believes it needs to do search if it does a.i. and other things in china. i don't necessarily see how they are connected but i am not in those negotiations with china. the problem is that google is has been incredibly disingenuous about his explorations over google search in china and it has been raked over the coals in washington for some of the work it has done internally to prepare for if and when that happens. i just, there are so many questions about what google might do in china that google has entirely sidestepped. br

we've seen a major selloff in chinese internet stocks, baidu, alibaba, tencent holdings, 7% losses tothese stocks are perhaps a cautionary tale for american counterparts, including those reaching for the trillion dollar club key. we're talking about apple and amazon. david dietze, president of point view wealth management who says joint join the trillion dollar club. why not? >> depends on what you mean by a trillion dollars. we love to sea a trillion dollars of sales, and paid 200 million for it. we don't want to pay 1 trillion for $200 million of sales. you correctly pointed out chinese internets are cautionary tale. they have great technology like the u.s. counterparts. they are down a third. government intervention. don't like some videogames. trade wars being affected. if you don't have the cushion of margin of cushion in terms of valuation, you can be vulnerable to government intervention. people have to be careful what they're paying. liz: just bought a cute cargo pants from alibaba and its website. it came in within day, very quickly. if you're absolutely right on that, if the

metal to mining stocks, oil companies and large chinese stocks like alibaba, and baidu.ll off 3% and it was strong hose atal media and for home keeping score of what exactly moves the market. number one it'srade fears a number two, it's the federal reserve raising rates, and number three, technology, leadership faltering, but political turmoil in washington, not so mucht a big mar mover. for "nightly business repois," i'm bobi at the new york stock exchange. >>> apple says some of the proposedit tariffs would some of its products. in a letter to the u.s. trade representative,pplendicated that a proposed 25% tariff on $200 billion worth of chinese imports would affect a wide variety of its productsg includhe apple watch. shares fell a fraction in ing today. >>> well, trade, the economy and taxes are just some of the issu b that wi on the mind of voters when they head to the polls for the midterm elections, and one of the most closely watched contests is in california where we find john harwood. he's in anaim tonight for us. john, as the jobs report showed today the econom

very importantly, alibaba, unlike some other internet companies in china like baidu orjd.com, they havethere is about 50 people who could step up and leeds alibaba over the next ten or 20 years. i think it is smart to give the reigns to them and let them help alibaba involved in an even faster internet type of market, especially as alibaba becomes a global player, moving into europe in south east asia and africa. the second thing, it was announced a couple of weeks ago, china is going to start taxing global income for people who spend more than 183 days a year in china. now, most ofjack ma's welcomes offshore because his companies have gone public in hong kong or the united states. i would not be surprised if he is doing this so he can spend more time in hong kong and other countries outside mainland china in order to reduce his tax burden. when i talked to a lot of the wealthy people in the last week, lots of them talked about moving to hong kong and spending 182 days or less on mainland china in order to reduce their personal income tax. sean ryan, great to have your thoughts on this.

baidu and it was just very very well so arts awards or the lessons even the lessons i went we were not able to do where wanted to. money. today you have this film is to train you and help you over the next few years right what do you see yourself you know over the next two to three years. i've been. to be with ok well i'll be doing what he was walking the street in before. so how did you hear about this. impression i'm getting is that. somebody told me all of us thought i was lying all that stuff. there six nights ago and that's this. you should never have life or something you don't seem want to but i mean honestly you know you think it's an opportunity you just want of life or you know you should you should get some more information. with all sorts of people from d.c. interested to see. this is the only opportunity all getting my life to. writing. is. great. or you know i mean it's an even if i live in the nice there's an opportunity that let's you really believe that we're all here. the kind of people we're looking for from very very grounds who would otherwise not be able to afford

companies like baidu and other at onies are working driving. a few years away truly self driving. a lot of vehicles, not really competing, free from drivers. we will use the computer to enhance the human activities. >> you don't want to replace us. >> i am going to ask one more question. i want to ask you one. 40,000 employees around the world, many of whom are in china. are you enjoying a framework research,es you to develop anything you want? >> pretty much yes. china is a big market. have tens of millions of users use our services every day. a lot of data is generated. learn howse data to to improve our services. we do have a lot of opportunities to innovate. that being said, there are concerns. how do you provide, protect privacy? sure theu make technology does not go out of control? there are things we need to worry about. i do see more opportunities than threats. selina: that was christina lee.de and robin at the current rate of progress, it will take over 200 years to close the gender equality gap. $.80 on the dollar that men do. women o

baidu 24% and taiwan se semi though, not down as much.sector, you get less influence look for signs of a wash out now. i watch vwo, this is at a 52-week low. bottom line it is down 20% from its recent highs its got all the big names in it and all the baidu and hon hai. as for social media, the guys were talking about it. what happened yesterday, this is apart of an ongoing process. this has been going on all year. social media has lost its glow snap is at a new low yesterday and 50% of its highs and groupon were at a new low yesterday and yelp is 13% down look at the social media, socl, it went up 100% in the two-year. this is all apart of the attacks that we have been seeing on the validity and the importance of how strong and big social media stocks could be. the dow is up 50 points. >> bob, talk to you in a little while. >>> let's get to the bond pitwi, there is more on the day, right rick santelli? >> it has been a little bit of a mix bag. adp is a little bit light. i like the productivity numbers. two day of tens, it looks like a hea

one could imagine a search powered by google or a baidu socialpartner with the chinese .local partner who knows how to succeed in the market and follow the regulations more precisely. >> did you imagine having those discussions? >> i would speculate that they are. even when i was at google, google powered search. >> we are getting to a point where the development in ai can be quickly monetize. what are the potential opportunities of that shift? days are still at an early . where ai canr area be monetize is the internet .pace the next set of industries will be roughly in order financial, health, education and transportation. i think over time, those will yield profits. i think it is a long sales cycle. one thing for sure is the traditional company is basically the -- basically going to be out of luck and out of business. >> let's look at a few key sectors, particularly when it comes to tech. well set to get hit by new tariffs. by -- joined the car sales numbers were pretty disappointing. is a marketave seen , so for theles first time, car sales actually dipped below 30%. i

it's different from when baidu tries to go outside china to japan and the outside market.enter a brand-new market with a different local culture, different consumer behavior, different consumer spending quickly localize, find the right partner to work with. they have china, to rapidly adapt. job,b has done a very good relative to other international companies coming to china. going to a new market is not as have aas saying less us company in the u.s. bring this international. for chinese companies going international, they understand this. they don't face as much of a challenge. caninda: you think airbnb succeed. >> it is tough to predict the timeframe. the china market is large enough to warrant patience and cultivation of the right management talent to address the market. the target market for airbnb. patience. pick the right local market. haslinda: when you look at the vc space, women vc's are hard to come by. not so much in china. tell us about your observations. >> i kept going back and forth. as i mentioned, if you look at ,he china entrepreneur market they have busi

at the same time, it has helped companies like tencent and alibaba and baidu thrive without competition seems to be taking the quite opposite approach. matt: in the short term, i think it seems to be blowing the other way. i think the hope is that china gets the regulations correct on the front-end. we have seen similar regulatory regimes and talks about intellectual property at the same time. there also setting up courts that might implement more protection measures. i think you are seeing a little bit of the scales balance in the long term. setting up a regime now that might cause short-term pain for hopefully long-term gain. emily: matt larson, thank you so much for weighing in. we will keep an eye on those regulations. the home of the dallas cowboys is gambling $10 million on what he calls the country's biggest e-sports venue. it is expected to open later this year and will hold up to 2000 fans. it will also include shops, team training areas, a broadcast studio, and other features. coming up, the battle over the ride-hailing space continues to heat up. who will get to the public ma

think about it this way, if you and the faang stocks alibaba, tencent, baidu, half have seen their marketsglobal equities, excluding u.s. tech, is down seven or 8%. romaine: i will break in here as we get redhead earnings. -- red hat earnings. they're coming in at $.85 per share and the estimate was $.82 per share. revenue is slightly below estimates at 823 million. they are also giving a forecast that appears to be slightly below the analyst estimate for 862 million four third-quarter revenue. you see the shares going lower at 5%. theyine: we talk tech and are a software company feeling the pain. where else are we feeling the pain? emerging markets. i want to get your take on the slight calm and whether or not we will see money. does money go back into emerging markets when the dollar goes up? jared: if it is a weak dollar. if it is a benefit to exports we get or a stimulus already in the pipeline for china, our china economist's no pressure gives you much more -- much bigger physical stimulus -- fiscal stimulus. done on the things fiscal side that u.s. has struggled to do. think there is

baidu as well. -- tencent.rish: we'll bringing for good things on the jobs report. >>> trade talks underway in washington as canada tries to make a deal and get into revised nafta deal with the u.s. and mexico. we'll continue covering all of that for you next. your insurance company is gonna raise your rate after the other car got a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪ trish: president trump's top trade advisors meeting with their counterparts, to hammer out a new nafta deal fair to all parties involved. meanwhile china is firing back today, warning there will be consequences if president trump moves forward with a new round of tariffs on $200 billion worth of chinese goods. joining me for the whole breakdown on trade, our very own susan li

baidu social product. you have a local partner who knows how to succeed.ollow regulations more precisely. >> can you imagine having those? speculate they are. even at google, there were collaborations. google did power tencent search. >> development in ai can be monetized. what are the potential opportunities of that? we are at an early phase. the clear area where it can be monetized is the internet space. google,where we see amazon, facebook. prediction, and so on. the next set of industries will be roughly in order. retail industry. health. education. transportation. over time, all those will yield profits. to those traditional companies. banking, automotive, a long sales cycle. one thing for sure, a traditional company that does not embrace ai is going to be out of luck, out of business. moving onto the subject of ,urope, the italy budget talks the italian papers have headlines. tax talks taking place today. the deficit around 2%. flat tax has been postponed. a three-year timeframe. the message you get, reading all these headlines, they are trying to fo

i think adam does too, baidu, tencent which have been absolutely in the freezer the last three monthsso the fact that some of these stocks are starting to perk up, trish, in the last couple days shows you maybe the frost is coming off the trade talks finally. >> scott, looking at sina, basically the twitter of china. write it up for my guys. >> for sure. trish: i think about china, as great as it is we brought them into the world economy i just think we need to be careful here, that we don't lose our spot out in front. i said -- >> agree. trish: for years we run the danger, you have people, guy on stuart's show recently how we need a guaranteed base income, universal income, these are spots being promoted right now in the democratic party, increasingly reaching left with the young woman in queens. bernie sanders types out there, i would only caution you know what? we don't want to become france. we do not want want the usa turn into france and run the risk that china becomes the next united states of america. adam, how do we preserve our position on top? if we don't do it now, when do

how in china baidu was the big company and then ten cent and alibaba emerged so i think the new companies can challenge old ones but probably and generally not indirectly going into a market in which a nearly monopolistic position is already there. >> i want to ask you this question kind of as both somebody who understands both of these cultures growing up in ing chinese and also as an , investor. the last six months to a year have been a low point in the relationship between the united states and china. we're engaged in a trade war. how do you see this playing out? >> i think the u.s. and china have such mutual dependencies in technology that continued trade war would be a loose move and i also -- it's a very sad one for me because i think there's huge affinity by the chinese people for america as china opened up it looked to the market economy in the u.s. it looked to bill gates so if you look historically, there's the american flying tigers in world war ii, there's american donating xinhua university, the best university in china so that good will seems to be melting away and that woul

the japanese and american markets and chinese technology giants like nettie's tents and holdings and baidu splashing on comic artists production firms and lavish marketing campaigns. and that's all your business for now soon has more world news to thank you care hard we're going to die dearie and now on the porch of the mega city of lagos is one of the most important in west africa also one the most chaotic one month ago in nigeria as a vice president ordered a seventy two hour security operation to clear up the traffic jams around the port but very little progress appears to have been made thousands of trucks still wait up to four weeks to get into the port our correspondent adrian chris reports from lagos. breakfast on the side of the road is nothing new for this truck driver. segment is stuck in yet another traffic jam near the port in lagos. by the five days we've been stuck here for five days nothing's moving it's very stressful the only thing we can do is eat sleep and wait. papa is well known for its traffic jams but in the past few weeks the situation has worsened due to a strike a

baidu unable to variable or the lessons even the lessons i went we were not able to wear wanted to. money. this film is to train you and help you over the next few years to write what do you see as old you know the next two to three years. i've been. to be with ok well i'll be doing what he was walking the street in before. so how did you hear about the. impression i'm getting is that. somebody told me all that stuff i was like all that stuff. not so much but that's this. you should never have life or something you don't want to but i mean honestly you know you think it's an opportunity you just want to apply for when you should you should get some more information. with all sorts of people from d.c. interested to see. this is the only opportunity all getting my life to. this. point i mean it would even if i live in the nice is an opportunity that little bit of work that if. you're. the kind of people who are looking for from very very blue background who would otherwise not be able to afford this kind of training that's one of the things that if you are selected and win from this p

that american giants could art do with a chinese company, so one could imagine tencent search powered baiduproduct powered by facebook. but ate would be tough, least one could imagine that. then you have a local partner knows how to succeed in the market, and also followed the regulations more precisely. >> would you imagine they are having those discussions, google and facebook, about partnerships in china? >> i would speculate that they are. even when i was at google, there were collaborations. google did power tencent's search for a time. >> we are getting to the point where ai can be quickly monetized. what are the potential opportunities of that shift? >> we are still at an early phase in the monetization of ai. clear area where ai can be monetized is in the internet space. that is where we see google, amazon, facebook, tencent, alibaba making a ton of money using the data, the accurate prediction, advertising, e-commerce and so on. willext set of industries be roughly in the order of financial industry, retail health, and education, then transportation. so i think over time all of tho

alibaba was lower on the day, but we saw baidu, and a bunch of others reverse course. the as well, if we look at some of the main etf's that people here used to trade on these chinese msci china etf, keep in mind that all of these rallied earlier on the week, because we were looking for some dipped down into this and that.s. trade war, may not materialize based on the reporting that we have. primaryne of the other is, proxies for trade sensitivities, industrials. many of them are alive -- rely heavily on exports to other countries, and this is a mixed picture. both deere and caterpillar took legs lower, but rockwell is in the green. there is not a clear reaction when it comes to companies that you would think would be affected most by more tariffs potentially. still, this is what we have seen pretty consistently. there is a reaction in the market, but it is neither a consistent nor a dramatic or large reaction, because even and the decline in deere caterpillar, neither is down even 1%. of's get a better picture the year, and look at the s&p industrial index as a ratio

baidu, jd.com and neo equivalent of tesla in china taking a bit of a beating as well, neil. you were looking at this, getting a sense of the sweeping nature of it is it just they're really concerned that technology has this great run up, normally these kind of hits last three or four day, people stablize, come back in, that might happen here but does seem pronounced. >> that is exactly the sentiment. they have gone rich. let's look at valuations. amazon is run up 70% for the year. same could be made by apple and facebook. maybe not facebook i take that back. netflix in the same house. yes, maybe time to take profit off the table. look at better entry point. look what happened in february with the 1000 point drop. there is still value if they're being paid out and still a lot of growth in these names. neil: susan, thank you, very, very much. to susan's point. more uncertainty and a lot of people sniffing around amazon, whether this company is going to be a target of regulators and the like. apple, concern, ongoing riff with china will really hurt the sales not only in china b

alibabahina tech story, and tencent and baidu, those companies have had some fundamental weakness comingyou have seen revenues decline and the gross margins decline. it's in concert with the em weakness that we have been bat sector has been a core part of that recent em rally. to be seen how much u.s. tech companies can really participate in china and conversely how much china can participate in the u.s. or elsewhere. at the end of the day, there are two places you can find faang tech stocks and that's the u.s. and china. francine: how does that change the way we look at the economy? we are looking at huge transformational changes, which we may not understand 100% in the way that we measure it. is it going to get worse? julia: we don't know. trade wars are the hardest thing to model as there have been so few we have been through in the past. the market is focusing much more on the tangible impacts of the tax cut in the lift that that brings rather than the more intangibles of the trade war. now that the rubber is hitting the road and there are actual terrorist taking effect, global suppl

>> facebook, apple, netflix, google, bob, tencent, baidu, these are 100 million plus platforms.e users. stuart: microsoft. everybody knows i own a little bit of it, happy to see it the at record high today, you're very bullish on microsoft even at this price. how high is it going do you think? >> i think there is more room to grope because of what is growing on artificial intelligence and i.t. side. a big conference coming up in a few weeks. there is probably 10 to 20% more on the microsoft high. it is at an all-time high. satya nadella has done a great job. the computing has more to grow. stuart: 10 to 20% more. trying to being do the math, 125, 130 on microsoft, right? >> probably 125 to 128 is the range. stuart: go back to netflix. you say it is still on fire. make your case to buy netflix at 364. >> well netflix we see them going to 400 but really predicated to the fact do they get to 200 million subscribers by 2020? this is the bet on international expansion. a number of deals that are actually going to happen in terms of content distribution deals. you see the one with bar