so i decided to leave beijing city. outside of beijing, i can manage to be arrested by police, instead of soldiers. and then maybe by doing that, i can maintain some dignity at a personal level. you escape, and made it to the west, and eventually to taiwan, and we are going to pick up your story back in taiwan. but now, i want to reflect a little bit on the meaning of 1989 and tiananmen for today's china. today's leaders in china still believe the chaos, what they see as the chaos, and the mob rule in beijing injune 1989 is one of the best justifications for them maintaining their 1—party rule on the country today, because they are the guarantors of stability and security for the great mass of chinese people. and they say nobody, nobody wants to go back to the crazy, awful days of tiananmen. what is your response to that? didn't we hear that from time to time from leaders around the world ? they have to remain in power to provide safety and stability. they are the source of china's chaos. and not only in tiananmen, not

the latest victim in beijing's powerplay.by chinese authorities. at this rally demonstrators are calling for his release. beijing's actions may be hurting rather than helping its cause. translation: who would wa nt to its cause. translation: who would want to be unified with a country that so horrible? i strongly support taiwan becoming independent. critics point out the president's approach to china is not helping either. they say the current stalemate gives few opportunities for the two sides to interact and for chinese officials and ordinary people to understand democratic taiwan. if the stand—off continues, neither side is expected to win. taiwan can't afford the lawn drawnout —— lawn and drawnout impasse. economy is dependent on mainland. for china, playing ha rd ball mainland. for china, playing hardball is a risky proposition if it is trying to win the hearts and minds of the taiwanese people. the hong kong government plans to completely ban ivory trading in four years. the city has long been criticised for being a glo

an establishment of diplomatic ties between beijing and panama.ate has links with taiwan. there are reports that panama now recognises that there is only one china and that taiwan is part of chinese territory. moving on to the japan times. on the front pages story on dennis rodman, arriving in north korea. the paper says his so—called basketball diplomacy has brought speculation that he might have some unofficial role easing tensions between washington and pyongyang. finally, singapore's straits times features a bigfoot all friendly finally, singapore's straits times features a big football friendly between singapore and one of the world's top teams, argentina. despite the absence of lionel messi and other stars, the argentinians put on a massive show, beating the singaporeans 6—0 in front of 33,000 fans. as we just heard, the taiwanese government has hit back after panama severed relations with taipei and established them with beijing instead. the move by the south american country has caused alarm in which taiwan fears other countries could foll

he collapsed while training with his club beijing enterprises. he moved to china earlier this year after playing in the english premier league with newcastle united since 2010. he will be remembered as a tough tackling midfielder. cheick tiote played premier league games for newcastle. 0ne cheick tiote played premier league games for newcastle. one of his most memorable moments came when he scored this incredible volley with just seconds left as his team came from 4—0 down to clinch a draw with arsenal. former teammates were quick to pay tribute on social media. netherlands and newcastle goalkeeper said" deeply sad to hear the news about cheick tiote. 0ne said" deeply sad to hear the news about cheick tiote. one of my favourite teammates. my thoughts are with his family. this argentinian midfielder said... and newcastle great and former england captain alan shearer tweeted. he wasjust a warrior and could play, too. the tempo of his game and he wanted to play would be idealfor the premier league. so it proved, that's the kind of player that everyb

she spoke to our editor being beijing's puppets. she spoke to oureditor in being beijing's puppets.r editor in china. 20 years since hong kong returned to china, and its leaders are often accused of being beijing's puppets. they're chosen not by the public, but by an establishment committee, carrie lam won 777 votes. how can you claim to represent all the people of hong kong with only that number? well, i don't think it is a question of a number. the question is about legitimacy. i know perception is important, but to say that i am just a puppet, i won this election because of pro—beijing forces is, sort of, a failure to acknowledge what i have done in hong kong over the last 36 years. i have pledged that, as part of my governance style, i will be engaging all sectors of the community, especially the young people. three years ago young people made their own effort to engage with a massive democracy protest that brought the heart of hong kong to a standstill for months. they won nothing, and now some say the only way to get democracy is independence from china. beijing sees such call

the beijing's central government has always been a strong backer.ing onrs to say we will support hong kong's economic development and improvement of people's lives, willing to work with all sectors of hong kong society in maintaining hong kong's extraordinary journey. to ensure one country, two systems also, we just had joshua wong they are saying it was no longer, well, one country, two systems and all that, one country, one and a half systems, or even one system. unease ands of concerns about the mainland undermining the more politically liberal traditions and the legal system here in the sar. haidi: that's right. a lot of concern despite president xi jinping taking a soft touch or when it comes to addressing the criticism of this idea we are heading towards one thetry, one system, saying effective crackdown when it comes to the way cy leung dealt with the umbrella revolution with many many weeks of protests on the streets of hong kong, asking for the democracy many felt had been promised. saying essentially it has then a crackdown and not much mo

hong kong's pro-beijing government is slashing lawmakers with expensive lawsuits and a backhanded attempt to disqualify them from their seats. people's access are being rounded up and detained by hundreds for exercising their rights to protest the new government. five book sellers were abducted, smuggled across the border to china, forced to confess so-called confess their so-called crimes on national television simply because their employer sold books critical of beijing. and just this week the democracy activist and heroes of the umbrella movement, joshua and nathan were arrested while peacefully protesting the of chinese' president and where they unfurled a banner of cho. mr. speaker, i want to commend this body, especially congressman chris smith of new jersey, for the resolution he put forth earlier, a resolution that recognizes the contribution to democratic freedoms as a global hero and urging the chinese government to allow him to speak -- seek medical care wherever including in the united states. and mainland china, mr. speaker, the chinese government continues to jail journalist

china may block coal imports as beijing tries to exert stricter control of the prices of supply. the government is trying to balance keeping prices high have to support domestic miners while keeping them below levels that harm power producers. the impact of the band may be minimal given china's overcapacity. macau is installing facial recognition at atm's to verify identity and crack down on money laundering. union pay is installing the customers having to stare into a camera in order to withdraw money. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: president xi jinping arise as the city march 20 years since the handover. jinping, this is his first trip since becoming china's top leader, what are we expecting? president xi jinping will be arriving with extremely tight security of. will bea is where he staying and where the flag raising ceremony will happen on july 1. it isn't locked down, hundreds of police, about a third of hong kong's 29,000 will be deployed around the clock during his trip. th

it's about 110 miles from the coast of china to beijing. so, a force of 17,000 to and00 will weigh in, eventually relieve the 3000 that are trapped. they will form this larger group that will make it to beijing. if you like, the movie "55 days" youight just go watch that, will be more fun. at the end of the day, the chinese don't call it the boxer rebellion. this is a picture i took at the pla museum in beijing and this is what they call it, the war against the invasion of the eighth power allied force. affair.t a very happy within 11 years, the ching dynasty, the last of the chinese dynasties, will fall. that the major blow was the sino-japanese war of 1894, 1895. in the boxer rebellion, the two will begroups of allies the russians in the japanese. -- and the japanese. here are the different nations. and, the allied chinese troops were essentially troops trained by the british. these are the americans, and general order number would -- one would be the order that you take in to the general so you could get credit on your record for having

our hidden over the past twenty years from beijing central government. has been a strong backer of hong kon. and will as always young young support its economic development. and improvement of people's lives. guys i mean some. i mean hong kong don't agree that this is a celebration ahead of xi's visit protest system discount she. gift from beijing to mark the cities returned to china. the ancient hebrews means. several prominent democracy activists including joshua wong and knowing the kidney from little. well rested. i'm all about. i think that that is not a great. but. protests simmons on thursday. home was placed under unprecedented security lockdown. thousands of police deploye. to maintain order. but to discuss that story i'm joined in the studio by jove hassan who say he's the vice president for research at the inn now because national institute of oriental languages and culture thank you for being with us on the. cross twenty four tonight and now and then. way back out when that hong kong was handed back to beijing it was supposed to be. out. one

morgan summit in beijing.ching bloomberg television. ♪ qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqq haidi: it is a most clock a.m. in hong kong. 9:00 in hong kong. "bloomberg is markets asia." ♪ rishaad: the markets are way down by weak u.s. job numbers and the terror attack in london. haidi: theresa may will take new hours if she wednesday election. she said after the weekend says extremism has been tell rated for too long. -- tolerated for too long. rishaad: terrorism is said to be the leading threat in 2017. haidi: there could be a deal where 267 billion dollars is in talks. we are looking at politics. secretary -- we have the defense secretary in sydney today. there are other counterparts here in australia talking about some of these geopolitical risks in the region. we have heard about the prime turnbull, lastlm week, saying australia needs to do more to rein in terrorism. take a look at the chart. 1957, you have to wonder if this is going to come up in these conversations. it is quite clear, if you take a look at th

beijing's actions may be hurting rather than helping its cause. i strongly support taiwan becoming independent. critics point out the president's approach to china is not helping either. they say the current stalemate gives few opportunities for the two sides to interact and for chinese officials and ordinary people to understand democratic taiwan. if the stand—off continues, neither side is expected to win. taiwan can't afford a drawn out impasse. its economy is dependent on mainland. for china, playing hard ball is a risky proposition if it is trying to win the hearts and minds of the taiwanese people. a new exhibition devoted to comic books and graphic novels is opening in washington. the display includes some of the earliest appearances of characters like spiderman and iron man — but also focuses on more diverse superheroes — as the bbc‘s tim allman explains. the library of congress is, in effect, america's national average. at these auguste always are now playing host to something a little different. they call it the library of awesome, a pop

losing taiwan is a greater fear for beijing. bbc news, taipei. laura: today, president trump huddled with republican senators at the white house to focus on health care reform. weeks after the legislation, it has yet to move in the senate. the president highlighted rising premiums as a failure of obamacare and labeled it as a disaster. emanuel was an advisor and is the author of a new book, "prescription for the future." >> i characterized it as cruel. any bill that throws 23 million people off of insurance is not a good bill. are 50 years old and older, it will raise their premiums. this bill has zero cost control. it is not a good bill. what we hear from republicans and people across the country that the cost of health care that they pay as individuals has risen so much under the bill from president obama it is untenable. let me make three points. affordability is a problem in the united states. we spent 27% more than the next highest country, luxembourg. issue.is a big the second thing is health care costs have stabilized under the affordable

possible trade frictions between beijing and washington, have those fears ease?certainly in the short term. they are discussing trade globalisation matches and have reached agreement on other aspects of the relationship. we expect this moment 3—piece will last mainly because us policies unpredictability and the fact that the us policy is dependent on the north korea issue. it is never going to an entirely satisfy the us. not only the trade data, is set investment retail sales with beijing curbing lending has these avoided debt risks and above all? that process has only begun. the debt mountain for china is massive and it will take years to sort that problem out. their steps this year have been positive. they have tightened credit policy. that is encouraging. they will be easing off that campaign as they come into a political transition. off that campaign as they come into a politicaltransition. leadership will want stability ahead of that. the er you, rafferty. donald trump has been criticised by both political and business leaders for withdrawing america from th

beijing sees such calls as a threat to national security. inseparable part of the people's republic of china. you think so, what if other hong kong citizens disagree? what if they wanted to call for independence? they disagree in the form of being an expression of personal opinion, then everybody could have a view. you could condemn him and so on. but whether that expressing a view constitutes an offence, then we'll have to look at what the law says. what's the answer? we'll have to look at what the law says. can you promise the people of hong kong that never in your tenure will someone go to jail for calling for autonomy, self—determination or independence? well, i can promise the people of hong kong that we will abide by the rule of law. so that's a no, you can't make the promise? no. how can you promise when you don't know the actual situation, when you don't know the actual legislation in hong kong and to give a, sort of, perpetual situation answer, i don't think that is a very fair question to ask. china's influence in hong kong is grow

let me start with beijing. this is going to the month on month. prices unchanged in beijing.ai also unchanged month on month. shanghai year on year, those prices gained 12.6% for the month of may. that is year on year. shenzhen, those prices look like they fell -- shenzhen prices fell 0.6% month on month. they assessed 70 cities and prices rose in 56 cities month on month out of the 70 surveyed. that compares to a number of 58 in april, 62 in march, 56in february, 45 in january. the number for may is 56 cities across 70 that are monitored where you have seen price rises. that would seem to the roughly in line with where policymakers would like this to be. they've been putting these curbs in place, tightening the screws, whether it is down payments or sources of funding for developers, putting price caps in place in some cities as well. they want to cool the price rises in the top tier cities. has appeared to have fed through to these prices. the real estate sector crucially important for the chinese economy. feeding into the health of the chinese consumer as well. that is why

that would be this morning here in beijing. here's a little bit of what he had to say. >> are you here just as a private citizen? have you spoken to president trump at all? >> oh, i'm pretty sure he's pretty much happy at the fact i'm over here trying to accomplish something that we very -- we both need. >> reporter: and what are you trying to accomplish here? >> dialogue. >> just want to open the door, to open the door, that's it. >> are you going to talk at all about the detained americans? >> well, that's not my purpose right now. >> reporter: and so, in terms of specifics, we didn't really get anything from dennis rodman. he just said he wants to open the door to dialogue, whatever that means. but as you said right off the top here, it's worth noting, again, that the state department says this is not an official trip, that he is traveling only as a private citizen. and we don't know whether he spoke to president trump, but we do know that he's one of the few humans on earth that has a personal relationship, both with kim jo

beijing sees such calls as a threat to national security.t of the people's republic of china. you think so, what if other hong kong citizens disagree? what if they wanted to call for independence? they disagree in the form of being an expression of personal opinion, then everybody could have a view. you could condemn him and so on. but whether that expressing a view constitutes an offence, then we'll have to look at what the law says. what's the answer? we'll have to look at what the law says. can you promise the people of hong kong that never in your tenure will someone go to jail for calling for autonomy, self—determination or independence? well, i can promise the people of hong kong that we will abide by the rule of law. so that's a no, you can't make the promise? no. how can you promise when you don't know the actual situation, when you don't know the actual legislation in hong kong and to give a, sort of, perpetual situation answer, i don't think that is a very fair question to ask. china's influence in hong kong is growing — some of it

its leaders are often accused of being beijing puppets. their chosen not by the public book by a committee with 177 votes. how can you represent all the people of hong kong with that number? >> it is not a question of the number. i know that action is important. to say that i am just a puppet, i won this election because of beijing forces is a failure to acknowledge what i have done in hong kong over the last 36 years. governance style i will be engaging the community, especially the young people. reporter: three years ago, young people need their own effort to engage with a massive democracy protest. it brought the heart of hong kong to a standstill for months. nothing. some say the only way to get democracy is independence from china. beijing sees such calls as a threat to national security. >> i think hong kong is an inseparable part of the people's republic of china. reporter: you think so, what about other hong kong citizens if they disagree? anif they disagree in expression of being personal opinion, then everyone could have a view.

haidi: it is an opportunity for beijing to step up.markable speech president xi gave with the idea china is filling in the vacuum of potential being left by the u.s., global trade, liberal values, is it the opportunity for beijing to show it wants to make a meaningful step towards making -- >> absolutely. on climate and north korea, you have an opportunity for china leadership, leadership about to be confirmed by the party meeting in a couple months' time. you have leadership china with y to be seen as a global leader in a way we never thought possible six months ago. everything president xi said in the speech has been rendered even more likely. very largely it is about very good made for his support on north korea. with tough prime minister turnbull, i said to them with the postwar alliance with u.s. and germany, the harsh remarks coming out of the g7 meeting, is it a bit of an idea for australia that we cannot rely on the u.s. relationship that mark and turnbull has spoken about? is it a better idea to turn to beijing? >> we will hav

it plays into the hands of the hardliners in beijing.s not a call for independence? the alternative is to give the people in hong kong a greater say over their own way of life. i feel hong kong is still a very special place but what's most important is the way the hong kong people have behaved and shown their commitment to pluralism, democracy, and the rule of law, and i think that's what will keep hong kong special. let's turn to the states because, after months of court battles, part of donald trump's travel ban is finally coming into effect in just under an hour's time. on monday, the supreme court partially upheld his executive order, restricting travel from six mainly muslim countries. the bbc‘s nada tawfik is monitoring this from new york. through the supreme court, they said the ban could partially come into effect. they said those with bona fides relations to the united states would be exempt, so we saw the trump administration last night putting those guidelines in place on who they consider to have a bona fides relationship. th

beijing, vis-a-vis the city 3 hours drive east of the capital.ng have edged down or remained relatively flat. the other city, they have picked up quite significantly, particularly in the month of april, and that has helped to draw down the inventories, down 16%. the pboc has been leaning on lenders to ensure they are very vigilant when it comes to mortgage lending, so all signs are that these curves are going to remain in place. it would depend on sharp shocks. linked into everything from cement prices to white goods and impacting the retail spending power of chinese consumers. it is something very closely watched. we will get the made it out around 9:30 hong kong time. anchor: we will be watching for those. thank you so much, tom mackenzie, on the chinese property market. we are staying on this subject because the top property bubble -- as prices rise. another 50%. a professor joining us next. this is bloomberg. ♪ anchor: this is daybreak asia, live from hong kong. i betty liu. yvonne: i am yvonne man. our next guest has seen the top property bu

remy inocencio in new york and tom mackenzie in beijing.will continue with this subject, the global shipping industry, coming out of one of the worst downturns in memory them about what does this turn in trade mean for it? rishaad: next, more on the potential opportunities as the united states steps out of the climate change consensus. this is bloomberg. ♪ rishaad: i am rishaad salamat in hong kong. this is "bloomberg markets: asia." haidi: a quick check of the business flash headlines. smilingk appears to be on macau, the world's biggest gaming have has seen casino revenue with its biggest monthly jump in three years, rising 24% billion, easily beating estimates in a bloomberg survey. china's three biggest exchanges imposing a self-imposed moratorium after bitcoin resumes its record-breaking rally. the exchange suspended withdraws over scrutiny from authorities. optimismas jumped amid on wider acceptance. haidi: reliance communications cut to junk, saying some kind of fall is an "distinct possibility." the cut follows similar decisions by

a move sure to annoy beijing. >> time for business news. you are starting out in japan where to conduct has filed for -- takata has filed for bankruptcy. has decided to restructure the company after fixing billions of euro's in liability after their faulty product caused the biggest safety recall in automobile history and left more than a dozen people dead. they were placed in at least 100 million cars. airbag inflator is that could propel shrapnel. least 180injured at people and killed at least 16 others. their maker, the japanese company takata has been recalling faulty products. keep up with liabilities, the ceo said declaring bankruptcy was the only way for the manufacturer to ensure that the recalls continue. safety parts of for the automobile industry or failure to maintain a safe supply would have a major impact. >> in declaring bankruptcy to cut it has cleared the way to be bought. it was interested because of its other businesses including seat else and steering wheel manufacturing. forill pay one $.6 billion the company. one billi

one was beijing's failed effort to present an afro-asian conference. the idea was that in 1964, and 1965, china started advocating for a second afro-asian conference to be held. the idea is that it would be a 10 year follow-up to the 1955 conference bringing together afro-asian countries again. china not only advocated for the conference but it also tried very hard to control the tone and the agenda of the conference. it tried to insist that the conference's platform strongly denounced both american imperialism and soviet revisionism. the problem was that there were many afro-asian countries were open to having a conference but they didn't want to involve themselves in china's feuds with the soviet union. the second afro-asian conference turned into a giant boondoggle. what happens is the president of algeria was overthrown days before the conference was supposed to begin. china tried to insist that the conference continue as planned and it work with the new algerian government to try to assure this. other afro-asian countries were starting to become d

appealing to beijing?me what will happen in the brexit negotiations. am sure they were surprised at the brexit vote, so it will be wait and see. for all they know and we know, theresa may may not be there for a very long time, so it is all up in the air. >> there is a lot of uncertainty here right now, right?i want to pull up a chart of the pound-yen. asshows the pound continues we saw friday and today to fall yellowding towards that line, a key technical level, the 200 day moving average, which is not great for the country, but i wonder if chinese companies look at that and say it is cheaper in the u.k.. might we now start stepping up perhaps some of our m&a activity in europe, and in particular the u.k.? foreign exchange markets move up and down. andou are a big company looking at the treasury side, you will take a longer-term view ,n sterling, on the renminbi and china right now is clamping down on the renminbi leaving china, so all that will factor being clinched at a slower pace. >> it does not sound

i've also met and had a number of local government and those here in beijing.y personal impression is that with the completion of major bridge networking and with more and more completion of other major infrastructure projects and other major cities that the area is truly becoming one of the most important economic area in the whole world. whether it will match the san francisco bay area or other major bay areas, i do not know , but i am sure that the integration of all the major cities in that part of the downtown region will create more economic opportunities and will bring in greater efficiency and will make when you fracturing and industrializing more efficient and hong kong should not lose out. if hong kong. [inaudible] hong kong will benefit and they will also help other to benefit. >> if you look at hong kong now, some of the major issues including, for instance, the aging society, the rising housing crisis, the gap between the old, the poor and the rich, these challenges cannot resolve on its own. something has to be done to solve these problems, not ju

its go to beijing with tom mackenzie. me bring you david lipton, the deputy managing director of the imf. you are in china and have raised tor forecast for growth 6.7%. what was behind that decision? david: we have been seeing the performance of the chinese economy and it was fairly strong growth in the first quarter. we see strong growth in the rest of the world which is helping. we see the chinese government providing some support, both through fiscal policy and the wake -- way credit policy was being managed. this is the right forecast. we expect the economy to slow a little in the year, but we think 6.7% forecast is the right one. tom: he talked about the urgency for reform and there is consensus among some that we have slower growth in the second half and that is providing something of a window. if that is the case, how big is that window? what is the timeframe policymakers here have? david: first, reforms are underway. see thoseike to reforms intensified, accelerated and sustained. that means the rebalancing of the

in a statement, beijing enterprises praised his outstanding contribution to the club and his huge skillsnd professionalism. and there's been a huge reaction, hasn't there? it seems he was well loved. he enjoyed some of the best years of his career at his former club, newcastle. they have led the tributes on social media. alan shearer described it as devastating news. another former newcastle player, shay given, said he was shocked and saddened. way too young,

let's get to first word news with tom mackenzie in beijing. tom: thanks. new opinion poll say half of u.k. voters think theresa may should resign after her election performance. she has vowed to stay on with the dup agreeing to work with her. michael gove is back in the cabinet less than the year after being fired by theresa may after the brexit vote. boris johnston led the campaign to take the u.k. out of europe. across the whole

he collapsed while training with his club beijing enterprises.after playing in the english premier league with newcastle united since 2010. he will be remembered as a tough tackling midfielder. cheick tiote played premier league games for newcastle. 0ne cheick tiote played premier league games for newcastle. one of his

we will go back to the beijing j.p. morgan china summit.lking -- we will be talking exclusively to j.p. morgan's asia chairman and chief executive. he will be along in a couple of minutes. you are watching bloomberg. ♪ ♪ announcer from our studios in : new york city, this is "charlie rose." charlie: donald trump's decision to withdraw from the paris climate agreement has provoked a n overwhelmingly negative reaction overseas and at home. joining me from washington to talk about the president is dan balz, chief correspondent for "the washington post." welcome to our program. dan: thank you, charlie. charlie: tell me why the president felt compelled to do this, and let's grant him that perhaps he thought it was in the national interest to do this. perhaps he did not believe the accord was the best that could be had. let's assume that is part of his mindset. but what else? dan:

the hong kong royal society have been to shanghai and beijing promoting this, and there are steps inn, but until they have a common law where you know you can take a reasonably same judgment today as yesterday, then hong kong still has a good place in the finance industry. rishaad: how do things change? we also have more mandarin speakers. recruitment agents say that banks and insurers want people is speak mandarin, but there also this perceived notion that these people are necessary, but sometimes people who have talent are being overlooked by sometimes a requirement for men drink which quite often times they don't need. >> that is right. trading desks, we have tried to hire cantonese speakers to speak to cantonese clients, mandarin speakers to speak demand or in clients, and westerners to speak to western clients, and we get the whole range here. increasingly, you find when you go to shenzhen, shanghai, beijing, you find the people you meet there are keener to practice their english than they are to suffer my bad mandarin. it is the international language. you see how many parents

and this leaves out the question how would beijing react? could lead to a regional war, a full scale war. we all know that there is really no military solution to the north korea issue and i feel very strongly about that. the second element i see is a greater reliance on china to mount more pressure against north korea, at least rhetorically. china, of course, is pyongyang's biggest trading partner. 90% of the total trade came from -- was china including most of north korea's food and energy supplies. so it is a very unique position. today the u.n. security council is considering a new resolution, additional sanctions while japan, u.s. and south korea are pushing for more sanctions. china is resisting sean pushing for dialogue at an emergency meeting of the unsc that happened last week and is continuing today. >> president trump recently tweeted that china is trying hard to reign in north korea and u.s. ambassador to the u.n. nikki haley recently stated that bay ying r ji beijing is trying to use a back channel. this indicates to me do they

the washington is treating beijing as an ally.oon change at any time. >> one of the interesting things, china was the bogeyman in 2016 in the campaign. following one visit to mar-a-lago the president and xi jinping seem to be best buddies. this is i think one of the things that has caused geopolitics. people,ot macro disclosure and caviar as i always do -- this policy could change tomorrow. that has a lot of people uncertain. you had this currency manipulator. you had trade problems. the administration is focused on trade. now china is our best friend in the western pacific. so, i don't know. clearly people are focused on north korea. the south china sea is still being developed by china. you have the chinese currency stabilizing. which probably is a good thing. we will have to see. this is an administration that seems to make it up as they go along. what the policy is going to be six months or a year from now, i have no idea. >> i don't know that a trade war with china -- anything that will bring tariffs is a dumb idea. , thatfre

beijing says behind-the-scenes moves have been indispensable.ea may have changed the game, saying it might halt weapons test if the u.s. stops were games with the south. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am paul allen. this is bloomberg. the federal reserve may still be looking to raise rates at least one more time this year , but that is not stopping the bond market balls from betting against the whole idea -- bond market bulls from betting against the whole idea. we see the fed, they are set on raising more rates and reducing its balance sheet. bond traders, still not buying it. kathleen: this is like the fifth year in a row this has happened. you start the year, the fed is ready to raise rates and reversed policy. bond traders say, i don't know, i'm going to keep buying bonds. so far pretty good trade this year. the question now of course, can the fed really keep hiking rates and start reducing the balance sheet if inflation remains weak. the latest thing is the crude

sail ships through the south china sea, the disputed area, caused a lot of disruption and anger in beijing south china sea in relation between the two superpowers and now you have the chinese increasing their presence in the region and in the global stage?l lot of money poured into certain countries, malaysia is an example. this is coming at a time when the americans clearly need the chinese to help with the north korean problem. there is no solution to nuclear disarmament in north korea without chinese help and assistance. 0n the one hand you have james mattis and rex tillerson calling for stopping the development in the south china sea and allowing that to be international waters but in the other hand asking chinese will help in north korea. so the americans are not playing a particularly strong hand at the moment but the chinese are. thank you very much. you're watching newsday on the bbc. still to come on the programme: we report from the southern philippines on the plight of civilians who've escaped fighting in the city of marawi. today we mourn the loss of innocent lives. londoners a

coming up, president trump simply willing to quality with beijing.ss what white house engagement in the project could mean for u.s.-china relations. this is bloomberg. ♪ david: let's check markets with julie hyman. julie: we did hear the president talk about the idea to put solar panels on the wall that he's proposing between mexico and the u.s. -- analysts who cover the solar industry -- the rally we hit in seeing is due to increases in prices. covering the industry for quite a while. -- when it comes to chill -- that same discussion is happening when it comes to panel prices here. another portion of the energy industry, the flipside, oil a goody, not having week. 4% decline in crude prices this week. it's the fifth straight weekly .ecline as we see oil extent highs for oil back on february 23. since we have had a decline of more than 20%. more than now it's close to 21-22% for those prices. if you look at one reason why, it is the persistent oversupply here in the united states. if you look at the bloomberg you can see that supplies have been falli

china is chasing a globalfinancial day in beijing.hina is chasing a global financial benchmark here. inclusion for its eight shares, leading shares here would mean that they attract by investors and responsible for trillions of dollars of investment. there would no doubt bea of investment. there would no doubt be a boost to those shares although it is hard to quantify exactly what that would be. to more significance to the chinese authorities is that they would regard a yes vision here as being a vote of confidence in the financial sector. this is, however, the fourth time they have asked. in the fourth time they have asked. in the past what has been an impediment has been the old familiar tale of reciprocal access. it is not easy forforeign reciprocal access. it is not easy for foreign investors to invest here in china and buy shares. authorities have taken measures to try and make that simpler but it is still the case that if you wish to purchase shares you need to deal with quotas from the regulatory authority or you can invest via

we will have to see what that exactly means and what kind of pressure he can put on beijing. want to turn to our cnn politics reporter live in washington. and to say on the subject here the president is really faced with an international crisis here. an american dead after 17 months of captivity in north korea. how much pressure is he under to do something? >> there's certainly a tremendous amount of pressure. i mean, as we've been talking about, a terribly tragic story. this administration was able to bring otto warmbier home. i think that that is something that they feel good about, but you know, keep in mind, president trump really made being harsh on north korea part of his campaign. he made being harsh on china part of his campaign. certainly we have not seen the level of aggressiveness toward china that he pledged now that he's in office because as we've been discussing, the situation is incredibly delicate. it's not that straightforward. there's a lot going on both between our relations with china and threats from north korea that go beyond this one young man. and so i