the china u.s. relations and in fact this is a critical moment for china to strengthen its relation with africa with europe in the backdrop of this escalated trade war with the u.s. but overall in terms of trading partners in terms of global influence the u.s. is not replaceable but at this point it is actually pretty sensitive point for xi jinping to visit africa since the vote on the road initiative is the president she's a legacy and africa is playing a key role in it and as she tries this time to visit is also at a very critical sensitive political moment domestically because in about one week the beta whole meeting which is a top secretive closed door meeting in china the coming year agenda with all of the important chinese politicians together right so if she has any doubt over the domestic political stability who wouldn't have gone for this long tours in africa let me ask you about that the choices the countries each owes to visit at first look wanda in senegal appear to be unusual choices fo

china -- and counter china's influence there. thank you, mr. chairman. a group of ust from the committee, four of us on this committee, with senator , headed up a bipartisan code l, three democrats, three republicans, we went over into the baltic region and that with leaders from four countries. and the leaders at all levels from presidents to prime minister's to parliamentarians. sure chairman corker has already mentioned this. but they were very, very concerned with where president trump is going on trade. and a very specifically, a lot of talking about tariffs. and the discussion went along the lines of -- we have been your friends. now you are calling us under this 232 section enemies and a threat to national security. are not happy about this. they don't understand it. they think we are headed for a trade war. then it starts spiraling down and nobody has control of it. i don't see from anything i have heard today, from you, what the exit strategy is here, where -- what is the endgame. clearly, we have things we should be doing on trade. see theeally

those people took those to china. they then patented the exact same thing in china. they then turned around and sued micron and the fujion province. and the judge in fujion province used the stolen patents to put an i injunction against mirkcro. it is critical that micron sell their products there. if they don't, it's going to cause them serious problems. so you have -- and who sued micron? a state-owned enterprise in a court in fujion, which is a state-owned enterprise, and headed by a judge who is employed by the chinese government. why would you -- why would micron think they had a chance in those circumstances? those of us from idaho are taking a serious look at this. and we're going to do some things that are probably pretty stringent as far as the chinese government is concerned. and we have to. this company's very existence depends upon having a rule of law in countries where we are doing business. and i applaud the president for his strong stance on what the chinese are doing, what they claim is legally. for instance, requiring chinese ownership in companies

and towards china. through some parts but not overall because there's a specific export of imports between the united states and the disk n.b. not compensated by china especially with regards to machinery but also to digital services and so forth and so forth we have a different trading floor flow between truman and china so only partly and joining me now our correspondent in frankfurt and andrea hang in singapore and brad like to start with you we heard just a few moments ago about the fact factory for a battery that sells at c a t l wants to build in germany how big a deal is this decision and is it business as usual from china or a sign of something that. puts a little bit of both danielle and it's both happening at the same time china has been very active in the end easy or a new energy vehicle sector domestically and difficulty that alone has accounted for more than half of the global and evie ownership as of twenty seventeen so this deal probably signals increasing foray into the end even market o

china and the e.u. also signed their first joint declaration since twenty fifteen the document mentions the need to address overcapacity on the global steel markets officials also discuss plans to reform world trade organization rules based on the same day that china filed a w t o challenge to u.s. tariffs on chinese goods. to june china and the e.u. are willing to talk about reforming and improving the w t o's on the basis that it maintains its core principles and continues to operate based on rules that foster free trade. changes. while china continues to post strong growth there are fears that a further escalation in its trade right with the united states could slow down the economy the latest figures show the chinese g.d.p. grew six point seven percent in the second quarter that's slightly less than in the previous three months the e.u. is a key trading partner for china and as relationships our elsewhere beijing is especially keen to maintain core deal trade ties with the bloc. of national correspo

it struggles to accept that china is superior. to handle we're told of course china and russia are cooperating on military to raise. geopolitical reasons but the new silk road has little support in russia and because russia has its own eurasian project and with the shah should have housing it all yeah it's a fine and dandy they see. the whole story and for putin as for stalin before him military strength is the primary factor decision but that's just not enough in today's world and you need an efficient economy technology science which is coutinho russia has none of that kazakhstan and his backers stand are already turning towards china while trying to maintain a balance but russia's all talk of it was golden china has the money all russia has is memories who glorious past has been one overly complex or. people like to come to the bridge of orenburg to enjoy the sunset looking west towards europe but many confess that they're looking the other way more and more often. at this moment i'm sure their house each year will be our futur

to china.mportantly, we need it look at the key earnings driver equity market as driven bye economies domestic sectors. rishaad: rebalanced happened in large part. we do get trade numbers at the top of the hour. not dwell on those. china bull.a said china bull is coming how the wood work. prices like this, it's a long term investment >> equity investors are looking chin owth and in the chinaequity market. currently domestic demand than 90% ofto more china's gdp growth. they should agree, be for bullish? >> the best strategy to navigate the current market. which will continue to do well despite the escalating trade tension. in?aad: what do you invest look atavist leader. how long it take you to pay those bills. you seen the worst by the in the and the gm auto sectors. >> look at the market we andinue to favor the u.s. equity market. asia.is shares, emerging we stay over china, india and singapore. rishaad: you're not looking at any industry groups? >> industry group, it would be consumer it. con

imposed punitive tariffs on chinese products here in china is growing of an economic downturn china is also becoming more important for europe which is affected by the tariffs both directly and indirectly. china is using the situation to offer itself as champion of free trade including during this visit to europe or that china will continue to open wider and this includes widening market access to foreign investors and including foreign products just as long as chinese consumers like them need them and they're in good demand then we will continue to open up and step by step we will lower the overall import tariffs. maybe a positive message but german companies are somewhat skeptical of their new ally that's because many foreign firms still face competitive restrictions compared to their rivals in china trade associations say those the pediment are increasing rather than decreasing. can europe expect trades to pivot away from the u.s. and towards china unlikely says horseflesh will economist at the frankfurt school of fine it's. true some parts but not overall i seeing because it is a s

europe, eye china changing its way. --i be.ever really anticipated a swift change from the us and therefore it has to open up and look at it at the end of the day. thank you for coming in and sharing your expertise. we will keep you informed on how the summit goes. later today british prime minister theresa may is expected to promise extra investment for the aerospace industry. at the farnborough airshow she's expected to offer almost $400 million for several projects, including researching more environmentally friendly aircraft. the event in the south of england is the biggest air show of the year as theo leggett reports. it's the biggest international airshow of the year and it's where you will find some of the world's largest aircraft. this week, around 100,000 visitors from 100 different countries will flock to farnborough airfield in southern england. the british government will use the show to explain its strategy for the aerospace industry after britain leaves the european union. that includes its plans for a new fighter

but born in china and have family in china. give us your take on how this is all unfolding.e getting worse, not better. markets have been surprised that washington has pushed so far. beijing's response has been trained to work out what the us actually wants at this point. but it is the rental market is. there are many ways a wound this. companies are applying for exemptions. we saw this with the original tariffs. —— but it cuts the cycle short to some extent. you can get the supply chain disruptions and you mention components, just now, as the lineker be hit. that is only that will impact their bottom line for us consumers and households. what you think about donald trump's stands on this? you know, arguing we are doing this because china is not opening up its market, it isn't a level playing field, when it comes to things that intellectual property rights etc, how foreign companies are treated in china. is this a hard sta nce are treated in china. is this a hard stance that will see results eventually, do you think? europe and japan have endorsed this position and china has

and china.omberg area -- bloomberg. ♪ asia.l this is daybreak: macro head ofa strategy, we are talking about china in particular. the opportunities we are saying right now when it comes to the chinese markets in his first rally that we have seen, where are you looking for to value now? we have seen some sectors like industrial bank be dealt quite hard, surely give a fresh look to the? now?at >> i think the sentiment has been boosted by the management but as we mentioned, the earlier that the two leveraging will continue, markets may still stay . we still believe that although china's government bond yields the rules nowng, allow some buying of the credit assets. that due toieve some safe haven flows, the lawful so we supported. are stillthink there a lot of questions you mention about trade and the currency as well. how much weaker does it have to get to disrupt this rally? especially, with the broader market and these equity benchmarks in asia rattling -- rallying? frances: when it comes to the

and china. we'll take a closer look at the escalating trade spat, trade war work gordon chang, right now, author of "the coming collapse of china," as well as "nuclear showdown: north korea takes on the world." thank you for joining us here. we heard a lot of different threads going back and forth between the u.s. as well as china. z.t.e., micron, sprint, tmobile. as we head toward friday, the $34 billion in tariffs, what are we holding in our hand. i imagine this snowball we're trying to bring things together. what are we holding here to make heads or tales of what's happening? zsh heads or tails of what's happening? >> this is an escalating dispute. you have $34 billion of tariffs slated to go into effect july 6. a lot of people say we don't like tariffs no one likes tariffs. but we have to remember that tariffs are being imposed under this eauthority of section 301 of the trade act of 1974. this is for china's theft of u.s. intellectual property. and the u.s. has not ever been able to really

government to a talk about china twenty twenty five what is it well china twenty made in china twenty twenty five is chinese industrial policy to get everything localized within chinese companies high tech products that they still can do today a lot of those are on high end chips little high and samey conductor testing equipment they're pouring huge amounts of money in evie electrical vehicles and electrical be able. battery so it's basically just an industrial policy i don't blame them for that and i think if you criticize them for their common made good sense for every nation to do that china doesn't like to talk about it the big you know there's a chinese scene in the streets and bide your time and that's what they're doing with trying to put the silence on made in china twenty twenty five in the press right so they will in other words like a product like apple is designed in california built in china they want to get in on some of that design dollars and be a raise at all and they get the entire. dollar for every bit of the of the ecosystem but i want to move on to. some of the tr

second is china. and the third is president trump's america first foreign policy that he's pursuing right now. to me, that is incredibly concerning. >> do you have a -- just very quickly, do you have a view on the china question, who gets -- in a at this titit for tat, you blinks? how much are they willing to endure? >> well, i think that we have seen in recent years and we're seeing right now, i think that the chinese communist party, which, again, runs china and we have to remember how china operates here. they are not a democracy. it is a dictatorship run by the chinese communist party. they have one interest in mind, and that is maintaining stability and staying in power. and they do not want to lose face because that helps them, they believe, lose legitimacy, so i believe that the china's communist party is highly likely to try to weather any storm and go tit for tat with the united states going forward. >> thank you. >> thank you. before turning to senator young, mr. bolten, i'm sure you have hi

jinny yan, chief china economist, china markets strategy. good morning.o this gathering today, this summit between china and european union leaders, do you think it will be more significant this time because they have this common purpose in terms of the trade war going on between them and the united states 7 going on between them and the united states? there are three top issues when it comes to china and the eu. trade, investment and climate change. i think it will be the same this time around. i do not think there will be breaking news out of this summit, it is more about the consolidation of trade and investment and consensus on climate change policies. when it comes to the key issue, for europe their biggest demand is allowing reciprocal market access, which is what the us is asking for as well. will we see any shift on that? both the eu and the us is very aware of china's rise and a level playing field is exactly what the eu wants, particularly as the us is trying to create a trade war. but what china will want to get out of the summit is that china

in china for china is how we describe this.ast majority of the activity is aimed at this market. thank you for joining us from shanghai on the latest report. now for a look at stories trending across the bloomberg universe. blasting theresa may's stop brexit blueprint. bloomberg.com, if you ever question the price of your smart phone, that $1000 price tag may turn out to be a bargain. how trump may to thank for the uptick in book sales. you can check out those stories trending on bloomberg online or on the terminal. this is bloomberg. ♪ yvonne: counting down to the market open in japan and australia. we will a low rally right now. trade tensions and of course earnings season around the corner. we just mentioned banks in the u.s. kicking things off friday. we are looking pretty positive when it comes to japan in particular. .8%.es up we mentioned the dollar yen spiking higher, the highest since january. certainly that will be news. .offee futures are up we're expecting a bounce back .rom crude overnight certainly one to watch on

now first of all to develop china twenty five first of all china and the chinese companies needs modern machinery right high tech technology and of course it is a less overseas machinery it can be largely provided by chairman a company is the first one the second of all news that can be also challenge when chess cooperation in dust for corporations of a tree chairman e and a chinese company and last but not least of course we have also foreign direct investments from china in chile many so far we know that this is very good for for for the chairman development and there is no transfer of technology from chairman eat to china so far but these trends in e determine the economy overall so does a lot of us in a cheese between germany and china with regards to industrial development or i just just briefly perhaps are there any risks when you look at closer cooperation infinit jase. yeah of course also wrists we have to take care that of course churman companies stay competitive we have also to take care that somewhat does mutual foreign direct investments more or less on the same level playi

and china impact on all of us globally. it's not going to be good years you're going to start to see global downgrades of global growth there's going to be severe disruption when you start trying to talk about rejigging the global supply chain there's going to be a lot of economic pain it's going to be felt by a number of people remember china is a conduit for a lot of southeast asian and asian nations we're talking about korea japan singapore everywhere things are going through there it also in almost sixty percent of the goods that are coming out of china are either mean produced or have some part in american products owned by american companies in china so this is going to have a profound impact as i said it's it's mostly political a little bit less economic on a tongan thank you very much for your time. now a pakistani court is about to hand down a ruling in a corruption case against the ousted prime minister nawaz sharif he and his daughter could face jail time for allegedly buying luxury of properties in london with u

china spats.ectedweaker than earnings in the pulmonary results from samsung, the back cap of the year is expected to be better. while casualties are expected, the ceo of bonobo reportedly said the company did not expect a trade war. the ceo did note that companies are in the same boat. putting a pretty brave face on it so far. asian earnings may disappoint estimates. japan is a canary in the coal mine on that front. 66 companies that have reported have missed estimates and so july has ra been a brutal month for japanese equities. see, those losses may ofe pushed nearly a quarter the top members into oversold territory. that is the most since the selloff we saw in february. we have to wonder if this is not compelling enough for buyers to dip their toes back in, but with the earnings potentially disappointing, they could be pockets of opportunity in the region. morgan stanley seeing strong profits for indian banks, goldman sachs betting on hong kong lenders. singapore and new zealand maybe beacons o

china doesn't want a trade war. china is not afraid of it.its legitimate rights and interests are treated unfairly, china has every reason to take necessary countermeasures. ramy: the billionaires index says asia has a new number one. the alliance boss tops the regional rich list, overtaking the alibaba founder. $4.3 estimated to be worth billion, tops his rival by $300 million. he made more this year while jack ma has lost. novak djokovic ended his grand slam drought, beating kevin anderson in straight sets. he took an immediate lead and withstood a late challenge to 7-6.-2, 6-2, this is his fourth major trophy. federer'snly roger 20, rafael the doll's 17. this is his first since he won the french open. let's get back to the markets because this week on wall street the banks in the spotlight as goldman sachs, morgan stanley and bank of america prepared to report. citigroup and jp already announced strong revenue, raising the bar's for the companies that follow. su keenan with the details. i got your name right. [laughter] j.p. morgan chase a

-china trade war.s taken a beating, but trump is threatening to extend the tariffs to cover half $1 trillion of imports. speaking in europe, the chinese premier said the trade war benefits nobody. >> we are not complacent on the rate. a trade war would be fairly bad for the economy. victim would be u.s. jobs, u.s. workers. we hope it does not happen. juliette: one of the two people thought to have been poisoned by the russian nerve agent has died . they think the woman was exposed last week along with a man who remains seriously ill in the hospital. it was miles from where the former russian spy and his daughter were also poisoned months ago. the australian security regular seeking records of correspondence from seniors at westpac. that after a court ruling that they engaged in questionable contact -- conduct to influence a key interest rate. the judge noted questionable actions attempting to influence. movie's latest marvel talk to the north american box office with ticket sales of $76 million. --coul

and china. itthe next weeks and months, will take some time to unwind all of this if there is no clear vision of what a breakthrough will be. congress is also challenging president trump on trade. is saying tariffs may not be the way to go. >> china does deal in intellectual property. they engage in unfair trade practices which violate not just the spirit but the letter of the wto standards of they agreed to play by years ago. i don't think tariffs are the right mechanism to do that. encouraged the president to sit down with xi jinping and that is the right thing to do. congress should have a say in national security tariffs so that as far as the two of them are going to go? >> certainly right now. , hee words from paul ryan is spoken that before. everyone is talking about how they don't like tariffs but the republican party does not challenge trump. the senate did pass a nonbinding resolution saying congress should have a role in the national security tariffs but it does not have any force of l

well china likely retaliate?ing about 50 or not $500 billion worth of imports that targets every single chinese good that enters into the u.s. more onikely to see investment restrictions from beijing or what we have seen with the currency as well? michael: we will see a mix of formal and informal retaliation from china. the informal retaliation will be making life difficult for u.s. firms that are selling and china's market. what i do not think we will see is china using the currency intentionally to threaten the u.s. or punish the u.s. and the reason is that creates for risks than benefits china. you have the markets expecting further depreciation of the renminbi and you have a read of what china experience beginning in late 2015, which was two years of heavy capital outflows and serious financial risks. as your correspondent said, another interesting art of this is china awarding market opening to european firms, to u.k. firms. it is not just text against the u.s., it is the absence of carrots that are going to

imports from china last year. that's police in adolescence and rita now they got to talk about this. let's start with the effect of today's tariffs i guess any effect the marginal correct me if i'm wrong yes that is correct it is their estimates are that if this is caps continue along these lines then. we expect about zero point two percent of g.d.p. to be hit in china are going to be lesser than the united states and how will it hit the fear is that if you're sorry the fear is that it will not stop there exactly and those very threats are coming from the u.s. president today what about consumers at the moment they're being spared a lot of these costs because companies that are absorbing the profits but for how much longer absolutely so this whole this whole discourse has been framed in terms of putting america first and trying to help some of the poorest consumers in the united states and it's true right now there is some attempt to shield the consumers but in fact this is not going to last very long at all becau

and china.rom reaction around the world on the pboc pledge not to use the currency as a tool in the spat with united states. 6.6595,ng is out, weakest fixing sense august of august of-- since last year. adarsh sinha is still here. it's not so much the weakness of the currency, but what that might ignite. what might that be? is probably comfortable with the weaker currency given the backdrop. the concern is about vicious cycles that may develop spilling over to the stock market, as we have seen for the past several days. we have notgly, seen signs yet, but that could be a problem. pastsome comments over the 24 hours tells us they are watching the fx closely and don't want to be a destabilizing source over the coming months, but if you continue to see dollar strength against major currencies, the boc will remain sensitive to that. if the dollar appreciates against everything else, they will allow the fixing to go higher. i don't think there is a line in the sand from the pboc at this point. it dep

to produce even cheaper in china and china and tesla made it official on tuesday that they will start proving manufacturing cars in china probably in about two years and i'm quite sure that those plans have been in the making a way before this trade war if i may call it this. already started to china is the second biggest market for tesla behind the u.s. saw in that respect it makes sense to make sure you produce cars within china and the stock of tesla traded to the upside by a good percent and what makes the steel especially important is for the very first time a foreign car maker is allowed to manufacture cars in china without a chinese partner. and yes why is it then the markets seem to be so far at least unaffected by the on going tariff battle. well investors on wall street seem to be tired was all those trade talks and actually not that much is happening at this point at least not that much news so investors on wall street are rather focusing on the upcoming earnings season that will really kick off on friday when the first big u.s. of banks will come out with their earnings re

to what extent is this all part of china's one about one road initiative . yeah ostensively that is the the explicit platform in reach they are making the investment but this is part of a long turned plan of china to secure its resources for the future so you know the oil is very important energy resources for china will be more and more crucial in the coming then years twenty years thirty years so they have already invested in other places like africa and south america for other resources but for the oil middle east of course is the primary area and of course the profit from that they are conveniently using now is the belt and road and that is i think just just good timing now it seems though that because of this current. situation we have the trade war and all of this isolationism and protectionism and all of these charges china needs friends and this is a good timing to make friends by announcing twenty three billion in in economic largess and to many people who've been following this of course this is simply an extension of china's. investment that it al

the supply chain is more than 99% in china and we are producing in china.e in global business. over time, you might see frictions in trade relationships within countries -- between countries. this is unavoidable. tom m.: the fact that so much of the business and supply chain is based in china, that isolates you to some degree? >> i just said we are a global product, a global brand, a global team. we are able to supply our product to the world. tom m.: you were considering opening a factory in the u.s. that was part of the discussion. is that now off the table? carsten: our plan now is to bring the product to production. we will start in the chinese market by the end of next year, which is not only the most important but the biggest market for us. we're going to the u.s. and europe in 2020. whatever the u.s. implications are, we will take into consideration. we would have to react to anything from a production side. tom m.: do you get any sense that your investments in the r&d center could be curtailed by chinese investment in the u.s.? carsten: i didn't get

moran: unlike china. it is a different market in which we are selling to individual businesses that make decisions about where to buy. we need to make sure that neither of the european countries governments or the united states puts any impediments in the ability for that -- if that choice is to buy united states ibm's, that that actually occurs. an issue that i think is somewhat related to this, because markets can change coming you can be buying from one supplier and that changes to another supplier, based upon price, availability, transportation costs, one of the concerns i have with the idea that we will provide aid to farmers is that that is a short-term issue. but our markets are based generally upon long-term relationships. while they could change overnight, we spend money and time and effort in developing relationships with those people who by soybeans. who actually buy a great sort of. -- a grain sorghum. when these trade issues are behind us, i am fearful we will becauset our purchasers there ar

china has blasted the u.s.trade the day before president trump's first tariffs are due to take effect. the commerce minister says washington is starting a trade war and is firing up the world and itself. tosays china will be forced retaliate against what he calls outdated and inefficient protectionism. he also says beijing will work with other companies to provide the asset trade group. leaders of the german auto industry are set to admit the u.s. ambassador to discuss the fallout of potential tariffs on imported cars. bmw, dialer, and volkswagen said a trade war would cause irreparable damage to the business around the world. the air force processes encourage more american companies are raising concerns about white house trade policy, and he expects them to have an impact. he says he does not see major fun of yet but remains concerned about escalation and retaliatory measures. the united states faces being sidelined as world powers prepared to defend the iran nuclear deal. china, france, germany, russia, and t

and china could easily cloud the u.s. plane makers business that even if you make any comment on not. back down on wraps up our business update for today don't forget to check us out on social media i'll be back same time same place tomorrow. read the real trial it resides. i come from there and lots of people in fact more than a billion years of blood nonsense democracy that's one reason why i'm passionate about people and aspirations and they can sense. the television the book is fried chicken blood and after the for the fun in one hour member thinking at the time if the blonde in broken forward into capacity to see her come together and unite for a pool. but i do the news that often confronts difficult situations more conflict between does something still i see despite my job to confront does he does on policies and development to put the spotlight on issues that matter most. to security of precious national nicely since. a notch has been achieved so much more needs to be done and i think people have to be at the const

normally exports a massive fourteen billion dollars worth of soybeans to china every year china's imports of the being from brazil surged to a record high in may also beijing is waiving tariffs and soybeans from india and south korea the measures aimed at mitigating the effects of tariffs imposed by china on u.s. soil be imports sell for response to trump's trade tightening policy. and china has been building the new silk road the so-called one belt one road project for five years now billions of euros are being invested in an infrastructure worldwide in order to expand trade routes for the boosting the economy in china the new silk road will also go through the french port city of ma say it's looking to raise its profile on international markets. this investor is hoping the new myth sixty eight transshipment center for fashion will become a permanent hub on the new silk road a sea route for goods from northern china that leads through the suez canal to mar say. this is a real opportunity to become a hub for trade with china will be offering a wide range of products here starting with bas

carol: isn't it ironic because that is what china demanded. you want to set up shop in china?t will be a joint venture. jim: everybody goes in with a partner, and a partner, besides getting rich, the partner is also able to earn your business and maybe take your ip. who knows, you know? and that is a great way for them to develop, but in the meantime, a lot of the leverage they have gets watered down. if they lean on american brands very hard, they hurt their own state-controlled companies. carol: in the economics section, we focus on a chinese city. jason: this is a city that is part of a massive effort by the chinese government, a bunch of high-tech zones they are creating. it is huge. carol: nanjing is going head-to-head against silicon valley. cristina: this is a city that twice in history used to be china's capital, but became a runner-up to places like beijing and shanghai, but has now emerged as a new tech hub. we looked at it as an example of cities. 156 tech dedicated special economic zones in china. carol: 156? jason: and an amazing amount of money being poured in by

china did that.urts specializing in intellectual property rights and the have jurisdiction over the whole of china. they are now beginning to actually impose meaningful fines. i think you have to give it a little time and progress has been great. yvonne: larry, thank you. professor of economics joining us here. big guest coming up on bloomberg. we will about the commodities selloff. that is on "bloomberg daybreak: middle east." later on, on "what'd you miss?," we hear from softbank coo. do not miss that interview at 4:30 hong kong time. this is bloomberg. ♪ >> before we hand it over, let's look at how markets are trading right now. japan, and others up. >> a little bit of a turnaround though the cosby is pretty much fluctuating right now. take a look at taiwan and malaysia. singapore could be down about 175%. this is bloomberg. ♪ david: let's talk about how you came up -- became a very famous ato.to -- a very famous vibr your performing in carousel which is a broadway play. wow, it wouldght be really

same goal to leave china the smoko only ok. grocery of their shop also which is on this friday so many of her friends also writes that. china today we saw in our report the difficulty that russia has been and what role did she and her late husband play in china's dissident movement . as soon as. we have a child or it's the first chinese water the nobel peace prize in two thousand and ten and since there. has been under house arrest almost eight so it's actually symbolic person are doing over the current situation the current human rights situation in china so i'm sure international city so southie at the civil rights. for a very long hike. to say is a sniffing book and we can. move. or there were shouts repeats the diffuse correspondent kong long reporting for us from taipei thank you very much. in thailand medical teams are waiting for the next members of a youth soccer team to reach daylight after more than two weeks trapped in a flooded cave divers started the final phase of the rescue operation earlier this morning official

only exports goods in the amount of around one hundred thirty billion dollars to china but china does have a whole lot of other options for example they could start not buying so many u.s. treasuries and even more then american companies who produce and shiners it was not considered to be imports there could be a stricter regulations there could be texas or there could be all kinds of possibilities for china to make their life for us corporations not that easy in the future and staying on this story don charles hardline stance is having an effect on the pharmaceutical industry can you tell us more on that well on july first of pfizer one of the biggest pharmaceutical companies in the country increased prices for a dozen and dozens of drugs and now on monday u.s. president donald trump criticize those steps sharply and now on tuesday there was a meeting between the c.e.o. . and donald trump and now on wednesday five are decided at least for now to pull back those price increases not immediately but as soon as possible but if you look at the long term and what plans the u.s. government

the domestic market in china becomes more and more important even if china depends more on exports than the united states does actually china is still trying to a certain degree to deescalate things they have not for example chinese consumers to boycott you as good something like that has happened before with other trade five china other asian countries that is not happening yet and also on the washington side donald trump is to not starting to block chinese investments in the united states to the united states or in a certain sense where we do not see a full escalation of the situation and that might also be a reason why wall street at the moment remains a rather calm actually in the past couple of days we had a rather strong showing here of wall street after the drop a good thousand points in the second half of june so there's still hope that things might not escalate but at the same time there's no clear sign that china is going to back off. from keeping us guessing they're clear richardson in washington and us cause in new york thank you very much both of you for the analysis. briti

for china.me people who feel china has stockpiled quite a bit on the oil side and may actually cut back on their imports. it will be interesting to see how that goes and basically to see if they decide they will cut back on exports from the united states to china. all of this is tied in with the so-called trade war which we are looking at. the negative implications of the trade war, and i suppose you don't see that feeding through this season of earnings as you look at the commentary and uncertainty, lack of confidence as a corporate leader, wondering if you will invest, given the policy environment, but is there a thisr this on the news -- undoes the tax reform policy? bill: without a doubt. we could see it, the impact by the end of the year. that is one of the possible downsides that is out there. i think the administration feels very strong about the momentum of the u.s. economy now. if we get a trade war, let's see how that goes for five months from now. without a doubt that is a problem. ka

but kissinger under new china as you would see it, what has changed about this new china versus a china that kissinger knew in his heyday? mr. kaplan: the china that henry kissinger knew in his heyday was a state, a state and also a civilization. today it's become an empire and it's become an empire across eurasia and the indian ocean that mirrors all of the empires in asia. the wong dynasty, and the early ming dynasty in the development of the belt and road road part. so it's not china we face anymore like henry kissinger, it's the chinese empire that will stretch all the way to the eastern mediterranean because the chinese are helping import development projects in greece and italy. tom: i mean, it is belt and road, but it is really belt and airline, isn't it? is it really a four-lane highway? mr. kaplan: it's different in each place, but to give you a generic sense it's a highway, link, real link, -- rail it's pipelines for both oil and natural gas. in many places it's all four of those things. and the chinese have already completed much of this across central asia to iran, so in tha

what is the reaction from china so far?se commerce ministry in beijing has said that these new measures that the us is threatening will hurt china the world and the us itself. china has threatened its own necessary countermeasures and said that this will include fresh legal action at the world trade 0rganisation. we are yet to see a new list from china about what good is it might consider, assuming that there are countermeasures with chinese tariffs on them, but there are other things that might do it. it might step up inspections of us goods coming into china or it might dragged its heels on approving certain types of investments to the us, and another possibility is the broad consumer boycott approach with chinese consumers boycotting us goods. all of these options are on the table and we are waiting to hear some more specific announcements from the chinese government. how worried are the chinese and chinese media about the proposed tariffs not only on the economy but also relations between the two countries? i think ther

and china.o country in aussie on wants to do that. asean want to do that. singapore is maintaining. with beijing they paid the price. they have sent them certain messages with actions they have taken to extend the message that you are little bit too close to the united states for our likes. the armedwith personnel carriers detained coming back from taiwan. them that remind of the biggest kid in this region economically speaking and possibly in the future in a strategic way is china. one final question. do you see the region getting much closer to china ahead? >> there is a limit. there has been in love of fear mongering around, china will dominate. obviously china will play a bigger role. haslinda: that's inevitable. >> regardless of who is there and who is in washington. because of the investment flows and trade. the largest trading partner of every country and the region. it is inevitable it will play a bigger role and that countries will lean towards that as a result. that doesn't mean that c

and china.n the back of this report, how much of that do we get through today if this list and details comes out by the close of business at midnight tonight? or does it drag out for another 12 or 24 hours? a couple of days without any trade word headlines, people were looking to get to an earnings season wrapping up at the end of the week. trade tensions are back on today, largely risk off moves, stronger yen. treasuries will perform well and equities will be under pressure. ramy: earnings season gets underway at the end of this week. there seems to be a mixed picture depending on which data you look at. what is this really telling us here? adam: this is quite fascinating. remember the u.s. earnings season is baiting a lot of strong expectations. we are looking for a 20% year on year growth in earnings. if you look at one set of information, which looks at outlooks from companies and upgrades relative to downgrades, you see that the upward guidance is outpacing the downward guidance. so there i

and china?ut if you look at tesla, they are down because cobalt battery technology is on the list. that is the core of the batteries that power electric vehicles. emily: i have a chart in my v that tds from china may be getting a lot more expensive what is going to happen. mark: that is interesting, i don't think it is a big deal because there are very few high-end china-based manufacturers that sell their tv's in the united states. many sold in the united states are made by sony, samsung. those are companies that are not necessarily affected by the tariffs. emily: what are the impacts on consumers here? what should we be worried about? mark: cobalt batteries, as we see more electric cars happening. but i think outside of the u.s., we have to focus on retaliatory tariffs. what is china going to do about this? that is where apple can be affected. about 20% of the sales across 2017 were in china. if china slaps growing tariffs on the u.s. for selling iphones in china, that could be bad for apple i