so call the china we call the mainland ok we are taiwan our mainland we together is that china is a one china war if you think the threats from china is so serious to taiwan why do european people all the people around the world are all the members up in the end try to work with china try to have dialogue with china try to solve problems it's true that you know that as well as i do it's not a human rights record is there we can disagree we can do that too apart from trade what exactly this democratic time i was having common these days with one party communist china you have free elections yes you will change your party in power they don't you have independent courts they know you have a free press they don't you can speak out against abuses of power and they can't what on earth have you got in common with mainland china. i think we should emphasize differences. go there work with them be their friends be their brothers and change that instead of being their enemies go there walk with them you can change them like what do you were doing with them now what are you going to do a count

china.> china's high-tech edge. >> we're just sort of hovering here. >> and the real reason it's investing billions in other countries. >> i think for our geopolitical motivations, there are economic motivations, there may be military motivations. hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ if ywhen you brush or floss, you don't have to choose between healthy gums and strong teeth. complete protection from parodontax has 8 designed benefits for healthy gums and strong teeth. complete protection from parodontax. i get to select my room from the floor plan... when i book at hilton.com free wi-fi... ...and the price match guarantee. so with hilton there is no catch. yeah the only catch is i'm never leaving. no i'm serious, i live here now. book at hilton.com and get the hilton price match gu

look littering metropolis brimming with confidence is the face of the new china an ambitious china with eyes clearly focused on the west. and the way there is the new silk road we retraced 2 routes overland and city from the chinese city of shenzhen to the german city of do sport. what lies behind china's grand ambitions what transformations will base root bring and how will these changes be felt in germany and western europe. i boarded a train from shenzhen headed west through the night in my restless sleep the sound of the wheels on the tracks conjures up the plot of the camel caravans that once traversed this route. the train is scheduled to arrive in didn't one at 6 30 in the morning. but it pulls into the station half an hour early. china has taken many by surprise in its hurry to reach the west. as day breaks in doing the sand dunes slowly emerge on the horizon as though they are born anew every morning. a lizard searches for warmth. the daily throngs of chinese tourists are about to arrive. there are camels here too an echo of the ancient trade route. they greet the crowd with pa

it's going to be like a little china town it just definitely is china. ya ya grew up in quite dark after studying in karachi he returned home for him the arrival of the china. spells an opportunity is it is it a clue that the state of the morning but that is what it speaks definitely you're walking in a new quad to your morning toward our future and there's a future god you're part of it. definitely on there you know following a member of this. this optimistic outlook can't be taken for granted in guatemala but for other people here peace and prosperity seem but a dream they fear they've been forgotten and will keep falling further behind. and they feel deep resentment of those who are proclaiming the arrival of a new golden future. in the world live but the chinese only care about their own interests they want to make a lot of money here they don't care about what happens to the poor to us maybe one day i know why yeah money arsenical good. they're taking everything. road our doesn't belong to us anymore they've taken the ocean from us the land there's

and china is going to improve. not anytime soon i think you have 2 very assertive nationalistic leaders even if president trump leaves in 2020 used to have a lot of democrats who are have a very dim view of china and of course in the case of president xi he may be able to stay on for many many years further we know his his policies are not likely to change anytime soon. and then one thing i'm also wondering then is if the policies aren't going to change what is the impact going to be on asia i think in asia difficult a lot of countries in a very difficult position china wants them to choose between the united states and china and so you see them call the middle i think roderigo to terror today in the philippines is a great example this is a country that has a military a defense treaty with the united states a close military relationship in the past most recently we see mr president to terra taste saying the chinese can come in and fish in their exclusive economic zone basically giving up saying i'm afraid of war wi

things have been shifting out of china. this might just be the last heave that actually pushes things out there. yvonne: we'll have more from that interview, the collaboration with our bloomberg news team. let's teak a look at the market check quick. equities are a bit up here this morning although volumes are quite low. we're waiting for the fed and jay powell's testimony here. we'll wait and see. we are drifting slightly higher. dollar seems to be a little bit stronger on the back of asia fx. continuing to price larger when it comes to sovereign yield. >> you look at the two, the five, the 10 and the 30 and where they have gone. it suggests that markets have been pairing back what many people have said a little bit more extreme expectations of the fed. are they going to cut 50 basis points and will it make sense? this is where we are on the two and the 10 and sterling is under pressure. yvonne: two-year low under the pound here after weak data when comes to retail sales and boris johnson on the no-deal brexit. we saw yiel

china relations.e they bring economists from around the world and business leaders to discuss pressing economic issues. thank you for joining us. you are the former u.s. assistant secretary for asia and he spent 20 years at the treasury department where you were negotiating macroeconomic and reform openings with the chinese government. model continues to be a pressing issue in trade negotiations. how much improvement have you seen? robert: there have been big changes over the years and china is a lot different than it was when i started. the thing that concerns people in the u.s. now, particularly in the policy community, is china is, in part, turning back from the economic reforms and increased marketization of the past towards more state control of economic sectors and greater importance. selina: do you think these trade negotiations can reverse some of those trends back to where you think they were before? robert: no, but i think the recent shift in the emphasis of chinese policy is something that

china's choice in dollar belt and road initiative is moving full steam ahead in both china and its partners are benefiting it's only been a few years since the modern day silk road project was announced and already trading investments are up with some looking to get even deeper into the game alex may have joins us from toronto with more alex let's start with china where hearing remote areas of the country are experiencing a boom as part of the b r i what can you tell us. what china's northwest province of gansu is reporting that belton road project is just it's booming there a day that's a given their economy a major boost when you say remote and try to the province of 26000000 people have easily someplace else that's a lot but it truly is remote it's closer up to the moment goalie and border but here let's take a look at this map this will give you a better idea of this whole built in road idea and what it looks like so in this situation belt and road means belt it means roads and actually roads means shipping routes the project currently spends over 71 countries and there are in 3 contine

china is too big for people to ignore. they will always side with china, not tibet.mbers of the european union is divided. you have 16 plus one. 16 european countries, plus one is china. italy has joined the group. it is 17 plus one. whenever there is a resolution passed on human rights in china in the human rights council, most of the 16 members of europe will not vote... you are just restating what i said. what can you do about it? we know that china is obviously a permanent member of the un security council. in the last 65 years at the united nations, we have seen 460 or more resolutions passed to do with the israeli—palestinian conflict. 0n tibetjust one because, of course, china vetoes anything. they are very powerful. so what can you do? appeal to all the democratic countries. say, you say you are committed for human rights, you say you support of nonviolence, then you should support tibet issues. these moral principles that you claim you adhere to, should be implemented and should be shown, demonstrated... you are saying this but it is falling on deaf ears. th

to meet china partway.ne-sided, china needs to move, china needs to toorm, and an unwillingness recognize that the trump administration's protectionist measures, punishment of allies and security partners is not creating much of an appetite for countries to work with the u.s. or support the u.s. in the approach it is taking towards china, so u.s. political candidates in the u.s. more generally may find themselves increasingly isolated on the question of its approach to china. shery: what is the risk of multilateral organizations being paralyzed as it is blocking nominees to the wto panel? how does this increase risks as you are seeing different bilateral tensions on trade? >> it is a huge risk and we cannot underestimate the critical importance of organizations like the wto and dispute settlement that can-isms to uphold the economic order we have benefited from for the last 70 years. it requires countries to abide by those rules and participate by those rules. we need countries around the world not to sit b

and china regarding that trade a conflict and that china you know that's not only essential government but also local government invest a lot into r. and d. research and development and all the companies side to us well so china actually has the highest highest it grew through rate of indeed and that this so far we would just say that's a successful. is it something the west has to worry about worry about there was a very one state that is setting the standards in fields like artificial intelligence and. facial recognition. the research it's safe it's i think it's a it's not a really dangerous for any of a country and the question is how you want to use a technology so far in a china and lots of a.v.'s are leading and especially in the us you mentioned if they show because commission and telling the eye of the sec to us and to these i think as a whole should be beneath it but what we need to spoil the vehicle about environment a friend world how we use that and i don't think you know that it would be pose any threat to other countries and if the other western countries and china would

china trade war.at do you deem as the chances of a deal and two, what compromises must the two sides make for there to be a deal? jin: i think the chinese didn't talk about the trade war dispute. now since i'm in the international institution, i'm no longer the part of the chinese government, i look at this development. think, with- i also both eyes, you can see after the meeting between president xi and president trump, both sides need to sit down to talk, because only by working out the differences, try to understand each other better, and try to look at the issues from the perspective of the other side, probably it could be better for them to understand about the real issues, where you should believe,e, and people at least, there are a lot of chinese believe, cooperation and coordination would bring the situation to both countries. so i remain optimistic. i know there will be differences between two countries. historical,fferent social background. but over the last four decades, i will say there's

new approach now by china the government in china is boosting its specially artificial intelligence what exactly are they doing and could that be a model for european companies it could be a model in some ways they there's a lot of state support that's one thing that is more problematic in europe than previously and a lot of it is used for security which may not be an ideal model for many european governments as well but at the same time there's a sort of a flexibility and there's an energy about the innovation sector in china and the way the tracks venture capital and the way money is invested that is definitely something that we could probably learn here in europe there are also challenges though that china is facing. i would rather well there's we've seen the the trade war is probably the chief form some of its national champions in terms of technological advance like qual way are under a lot of pressure and are from the us there's a lot of pressure on intellectual property and about where china is getting its ideas from i think china likes to absorb ideas that there is copying going

versus china, i say, look, i'm not here to bash china. i'm not here to even ask you to make a choice. i'm here to talk about what's important to you and what's important to us and i think i know where you come from where you honor and respect democracy, rule of law, human rights and sovereignty. i look at those four representative variables and i look at the competition that you might to do business with. these other external state actors and i know where we stand. we're not the perfect people, but we work really hard at being good in this country, particularly in our military. we make mistakes, but they're usually mistakes of, you know, honest mistakes. i know where i stand on those four variables and where the competition stands on those four variable. when you buy into a product, are you prepared to buy in what might come with what kind of rule of law, what kind of respect for human rights? i don't see currently an indication that people are buying into that in a way that's corrupting them or causing them to stray from their commitment

the theory that a strong country must seek hedger money will never apply to china no matter how china is developed in the future we will not threaten anyone neither will we seek spheres of influence nobu emotional there are still big gaps between china's defense expenditure and its demands of maintaining the national sovereignty security and interests complementing its obligations as a major power and maintain the progress of its own defense level we will continue to keep a proper and stable growth of expenditure. well the island of taiwan is self rules but china sees it as part of its own territory the u.s. has angered beijing by approving sales of weapons to the island this month sales worth more than 2000000000 dollars well china says it wants a lie the island to splits from the mainland will not leave much money we are willing to strive for the prospect of peaceful reunification with utmost sincerity and efforts however we have to be very clear that seeking taiwan independence will meet a dead end if anyone dares to separate taiwan from china the chinese army will certainly fight

the theory that a strong country must seek hedger many will never apply to china no matter how china is developed in the future we will not threaten anyone neither will we seek fears of influence noble emotional there are still big gaps between china's defense expenditure and its demands of maintaining the national sovereignty security and interests complementing its obligations as a major power and maintain the progress of its own defense level we will continue to keep a proper and stable growth of expenditure. well the island of taiwan is self rules but china sees it as part of its own territory the u.s. has angered beijing by approving sales of weapons to the island this month sales worth more than 2000000000 dollars well china says it wants a lie the island to splits from the mainland will not leave much money we are willing to strive for the prospect of peaceful reunification with utmost sincerity and efforts however we have to be very clear that seeking taiwan independence will meet a dead end if anyone dares to separate taiwan from china the chinese army will certainly fight r

and china' and's, china has the biggest economy in the world. this divorce is going to get ugly compared to the divorce with the u.s. and the soviet union. there was no trade between the u.s. and the soviet union. rishaad: is that why these -- we saw in the beginning of may that chinagotiations between and the u.s. fell off. cryptocurrencies rallied and have rallied ever since. that is why you are here, we are here to talk about blockchain as well. >> gold went up 10% and down again. currency, you have to have no goods or services pricing. the price of bitcoin has fallen by how much? 30%. it is not a means of payment. not even the blockchain continents take it. with a visa system, you can do 25,000 transactions per second. billions of people are doing digital money. it is been low and paypal in the united states. they had nothing to do with blockchain or trade talks. this is the future of digital money. it is a failure. nobody is using it for any transactions. for atrading one coin nother coin. this is pumping and dumping, from running. it is a

and china in artificial intelligence yeah. but i'm wary about reporting yes it's germany's minister for economic affairs is getting a free ride in san francisco peter out my is visiting zeus start up that develop software for thomas driving a few clicks on the soup step and moments later the minister is off for a test drive in one of the start up self driving prototypes but for now he's taken the backseat to employees keep a watchful eye safety 1st of course just 20 short minutes later my hour reemergence and is impressed. that was the 1st time in my life that i was driving fully autonomous li through a city but it was really impressive what technology is capable of artificial intelligence and modern sensor technology which a lot of was actually researched and developed in germany i firmly believe that this technology will make tremendous progress in the near future and that's why it is important that germany states positioned in the front of these developments minister of my is visiting soups and handful of other companies in

members that are doing business in china will stay in china.king to move out from china. but of course, we would like things to change, and we are just waiting and seeing. >> what about the hong kong policy act? washington is looking at hong kong to see if it is autonomous are not and if it feels that precondition. >> this is the sword of damocles you were just talking about, i was on a delegation to washington -- we delegate every year on behalf of hong kong, senator rubio stephen, senator schumer's team, there are number of bills being introduced to do away with the hong kong policy act because it has a special america, otherth international organizations, it is a great thing for hong kong and our policy is don't do away with that. don't throw hong kong under the china bus, don't hurt the people of hong kong. 100 thousand people employed by american companies in hong kong. we are stakeholders. we don't want the u.s. government to do anything that will be precipitant and hurt the people of hong kong. we say first do no harm. make a statement.

hello welcome to business asia berlin good to have you with us now then trading on china's new nasdaq style stock exchange got off to a stick tacuba. a dream start for china's new stock market some $25.00 companies began trading on the new nasdaq style tech board in shanghai with one logging a 400 percent advance what china expert clifford coonan tells us more about that. also coming up germany's economy minister says brussels could scrap duties on key u.s. industrial exports to avoid a war of tariffs between the e.u. and the u.s. . a welcome to the business asia berlin good to have you with us now then trading on china's new nasdaq style stock exchange got off to a stick tacuba start today share prices soaring one company angy microelectronics technology jumped by more than 400 percent a so-called stock market is part of china's attempt to assert itself as a global tech leader $25.00 companies from i.t. and other sectors listed on the new tech board which is operated by the shanghai stock exchange china has the world's 2nd biggest equity market behind the u.s. but it's been criticize

european countries are all too willing helpers in china's strategy to dominate the global spec industry. and sanctions want sanctions as iran's currency exports are being hit the stock market in tehran is thriving. is the business as welcome but 1st will christine legarde become the next chief of the european central bank e.u. leaders in brussels are still tousling over who will get the top jobs in the union today is already marks the 3rd day of deliberations with so far little results and little unity over who should head the european commission or become its top diplomat but is there no a breakthrough over who could become the new president of the european central bank with a leg up the current head of the international monetary fund is being floated for the position now let's get the latest on this from our correspondent in frankfurt where the e.c.b. is based on a doozy what are you hearing there in frankfurt would she be a good choice. she would definitely had to have the right credentials gary hart with her background as a french finance minister who never gaited her country throug

china china is a very interesting case right we have a growth in china slowing and for guests from the us the around 6 percent in 200-100-2020 not the same as the double digit that we were used to in the previous decade but china cannot afford not to care about the environment they said we have evidence of from various sources and it is about $1000000.00 deaths per year premature deaths because of air pollution we have evidence of economic costs of pollution in china so china needs to get its act together about pollution and things are going on it's part of a bigger problem so it's not just more ambitious environmental policy it's also law enforcement it's linked to the rule of law in china which is another going for growth very early on or in our report and also the fact that it's a level playing field in competition the fact that you know older inefficient performing and less environmentally friendly firms would need to enter the market whether enjoys support that keeps them on the market so it's a bigger problem that needs to be addressed with a complex set of policies and these are

in china 25 strategy and says many countries and companies are all too willing partners and helping beijing become a world leader in the tech industry europe fails to protect its core interests we want to talk to one of the authors of that report in a moment but 1st here's more of that story if you want to journey deep into beijing's economic ambitions wild ways european style campus is a good place to start the telecommunications giant is emblematic of the country's plan to become a global leader in a number of key industries. government's made in china 2025 strategy reflects a desire to move away from low cost money factoring towards high tech as well as communications the chinese government is also investing heavily in transport energy and digitize ation traditionally it's gained a lot of its knowhow from abroad over the years the huge chinese market has attracted many foreign firms to the country including german car makers keen to carve out a nice. but in recent times china has been producing more homegrown firms in the area of electric mobility it's a ready proven itself with

your within china so. there is obviously some hypocrisy there but it also goes back to the way you frame the language because when we talk about what happened in france we talk about the right of tourists when we talk about hong kong their protesters but obviously the 2nd they broke in and the storm parliament. the protester what about the flag thing that's what i don't get ok i mean they it is universally internationally recognized as a one country we have these 2 systems one country is this a call to return to colonial rule well i guess that made it more inappropriate for the british to respond because by hosting the british colonial flag obviously that's a challenge to the return of britain's colonial possession to returning it back to china so for the british for he didn't have democracy they were a colony no ok i think. let me go back to markets here i mean this is what you know i find what we all during here i mean they there are these protesters some of them very violent are are calling for a modicu

china's own rowing raising some of the exidy s. and destabilizing fact is but china sees the united states as a country that it confronts in the region and the real security challenge but seem to see explicitly india's high profile strategic and policy document is certainly in poland and speaks volume 2 things are the white papers focus some political ot of the armed forces above all else as well as the internal focus of china's military so in terms of maintaining domestic stability but also the political power of the communist party how do you think the overall region of asia the asia pacific is going to react to this white paper. i think very much so in terms of strategy there's nothing really new in these papers a lot of the details of the strategy what china is doing. a regionally as well as in terms of its military modernization is known at least 2 d. at the experts in the policy makers but what i think is near is the new assertive confident tone and the political rhetoric that accompanies it at any thank you very much. the wh

china. they do not want to lose extradition system where they can be picked up and drag to china, not to mention the 85,000 americans in hong kong. trademe problem with the talks is been the chinese refusal to sign the enforcement mechanism. they say we will abide by the intellectual property rules. please do not have an enforcement mechanism. you see this as a connection between the two. it is a matter of trust. can the chinese government be relied on. it looks like 500,000 to one million people in hong kong are saying no. david: there were a lot of promises made in 1997 when hong kong reverted back to china. at the same time, the situation has changed. hong kong was much larger compared to china that it is today. china has grown a lot. michael: there's a triangle going on. the british got the promise, than the chinese government itself had to take various measures to implement the agreement, which they are generally done, which not completely. finally, there is the american side, where our

and painful lesson business china's economy keeps cooling. demand at home and abroad continues to fall to the latest quarterly results are in line with expectations they show state support is finally kicking in but that most stimulus will be needed as china's trade conflict with the united states rages on. in the past 3 decades the chinese economy has undergone an extraordinary transformation developing from an inward looking agrarian based society to a major industrial powerhouse growth has been rapid for years double digits were the norm now the pace of expansion is slowing down in the last quarter of g.d.p. rose by 6.2 percent solid by many standards but for china the worst performance since the early 1990 s. the government's been keen to offer reassurance but doesn't deny there are problems from. from one year and generally speaking economic performance in the 1st half of the year was within a reasonable range and has sustained momentum and overall stability. however we should also be aware that the economic conditions are still severe bo

well so this is just another example of how our china pop propaganda can look like today. thank you very much. following up on a story we covered earlier this month that some are calling indonesia's need to movement the country's parliament has approved amnesty for a woman who was jailed for recording her boss's sexual harassment by eek was charged with a crime after the recording was shared she served 6 months in prison but her case triggered national outrage prompting calls for amnesty here's what macoun had to say to other victims of sexual abuse the toughest but don't give the perpetrators i mean opportunities women need to be brave if the same thing ever happened to you be brave and speak out but it's one. that ends or show check out our other stories on g.w. dot com for slash asia thank you for watching see you next time and good bye. to . my 1st boss i was a sewing machine. where i come from women their phones by this ocean for. something as simple as learning how to write a bicep isn't. since i was a little good i wanted to have a bias i belong to my home and it to

china trade war?ade war is the biggest one, it is in the short-term, but medium to is more trying to read -- relocate investment in china to other parts of asia, including indonesia. based on our dependence to natural resources. havee last 10 years, we lain so much on natural resources. most of the time, it has been in our favor. but in the last few years, it is not in our favor. that is why i balance becomes a surplus. we shouldive years, reduce the dependence on natural into more of a role in the manufacturing sector. speak coming up, we will with a fund manager who was up 113% in the first half of this year. his winning trades, that is next. this is bloomberg. ♪ ♪ most of us don't know how much data we use, but we all know we're paying too much for it. enter xfinity mobile. america's best lte with the most wifi hotspots, combined for the first time. when you're near an xfinity hotspot, you're connected to wifi, saving on data. when you're not, you pay for data by the gig. use a little, pay a little

many of these people do not go to the mainland china even to travel there is it this is china but today don't go there are probably a crime well impossible for them to know should i go back to the mainland china so the fear is totally irrelevant to them but back to play devil's advocate lauren smart they would they would say that this could be used as a pretext for the chinese authorities to arrest someone and say you have committed a lawyer an offense in china or we use this as a pretext to take you to the mainland no but they don't even go to the mainland china i want to go into the port so that that's not for them there might be some concern in the business sectors to do business in china but china hong kong is meant to do just this is china and may have that concern but not those protesters on the need you know charging riots against glory's not that not those people those don't have to stand at all because of asians then there's a lot so there are provisions in this law which words exempts people who would not normally go to mainland china is that your argument lawrence no longer t

in dealings with china it says western firms could lose their competitive edge. electric batteries bring the point home 7 ide of 10 of the world's biggest makers come from china. leaving european firms scrambling to catch up. with the studio is on a host most she conducted this study at the macarthur institute and i welcome to the studio this study is pretty grim reading for people here in europe what is be doing so ultimately go world domination or should we worried about this well as the ultimate goal clear is technological leadership on a global scale however we're not talking about technological leadership in every single aspect of technology and so you really see a difference in china's approach where the got to let's say more traditional high tech areas for instance and the ation in these areas china's content with chests developing the rest of have abilities that are sufficiently good so to say the products the components that acknowledge she does not need to be you know state of the art but sufficiently good a different story needs to be told in the in th

paul: china's gdp not the only big number out today.nthly activity indicators, they are going to show how much of the second round, $200 billion round on tariffs on chinese goods is affecting. i made a list to show you what is going on. financial production, expected to rebound. retail sales, consumer may be studying that. fallingyour data going, to a percent in june but not as much. fixed asset investment, seeing study at 5%. people are saying all the stimulus the chinese government did, is it going to help these numbers? in the trade deficit later out today, it is a -- is it going to weaken? we have australia, unemployment, central banks, the bank of korea and bank indonesia, expected to rate -- meet and hold rates steady. eight fed speakers this week including jay powell, retail sales, industrial production of all things. governor kuroda is going to be speaking on a panel on central bank independence at columbia university on friday along with eric. we have a busy week all over the world. i will take it from here. global economics ed