the us and china are locked in an increasingly hostile competition in the south china sea, where chinaial islands in defiance of international law. the us responded very slowly. it took a long time before they fully appreciated what china was building. by the time china had really started militarising these islands, it was too late for the united states to respond, and nobody wanted to go to war with china over what they called "reefs and rocks" in the south china sea. $5.3 trillion of trade transits through the south china sea, very near the spratlys. china's actions were, in a sense, an attempt to be able to cut the carotid artery of global trade. so many of the conversations i have had in this city boil down to one concern: that china's rise is nowjust too rapid for the united states to manage. like those islands that appeared almost out of nowhere, there is a sense that unless the us gets a grip on the china challenge, and soon, it might well become unmanageable. the stated chinese government policy is to dominate emerging technologies like robotics and ai. this truly was a wake—up

but until china pursues that path, the united states and your must compete with china. and must do so with bigger. the united states, the european union have both improved our screening of foreign direct investment and we combine forces to expose chinese governments repression in shin shenzhen. these actions are important start but the challenges of china which are many and widespread will require a sustained commitment. this is and will be the principal struggle of the rest of our lifetimes. the united states and your have always like most friends have some differences but that cannot distract, cannot distract us from what is most important. above all, we must ensure the free international system we built together, we and europe built together, can withstand external pressures, acknowledging the many opportunities for the united states and european cooperation against china will help us to work through our differences. china is a communist authoritarian party state and, unfortunately, the parties values and interests dictate how china operates in the international syst

in china. in conclusion, what i would say is these efforts i spelled out driven by these new security and strategic imperatives on india's part a line with the united states free and open indo-pacific strategy as it is emerging under the trump administration. in fact, i would say the relationship between the united states and india is one of the few that has arguably improved from the clinton administration to the bush administration, from the obama administration and now to the trump administration. we've seen in some ways while there have been bumps on the road, it's been a largely positive trajectory and in some ways in terms of security in the indo-pacific it is accelerated under the trump administration. in that sense, i don't think there's a lot of unhappiness in new delhi about the trump administration calling out unfair trade practices on the part of china, in terms of the u.s. stepping up its 60 present -- security presence in the region, including in the south china sea, in terms of c

with pro china and anti-china communist party concerns. so they are beginning to wake up to the china threat and they have a border dispute with china and they're very concerned and when i talked to indian officials here, it is the main national security threat for china -- for india. as for russia and china growing closer together, we have seen in the past couple of years, in the past few weeks, joint military exercises and this is kind of unusual, russia has lar large se exercises and china has some forces. i think the russians are cautious about the relationship of china and traditionally russia has feared china taking over its far east which is very vulnerable. low population and few defenses. so the husband -- putin has aligned with beijing basically because his against the united states so to answer u.s. motivation. but there is a concern to see the growing alliance between russia and china. but is mainly focused as anti-u.s. alliance. >> if you had to pick up on mobility of china, what do you think china is most probable on. >> i th

and china. put simply, china must open further.t needs to resist the defensive temptation to protect domestic firms that would become stronger if they are subjected to best in class foreign competition. but washington needs to resist some temptations, too. decoupling china from u.s. markets by delisting chinese firms from u.s. exchanges is a terrible idea. viviana: former goldman sachs president gary cohn served as chief economic advisor to president donald trump. in an exclusive conversation with francine lacqua, he shared his insight on trade. gary: i think we are having a trade skirmish. i think the two sides have some disagreements on trade, but if you look at what is going on, the two countries are functioning. there is a lot of trade still going back and forth. the united states is receiving the goods from china that we need to have a fully-functioning economy, and our economy is functioning well. i hope that we get a phase one deal done, and i think it is in everyone's best interest to get a phase one deal done. francine: su

fault you list the ways the united states is not competitive with china but is not china's fault soi have a few questions about that section but you also write about the democratic norms and values. do you think that president trump and his approach to our democracy is unique in his approach to democratic norms causes difficulties with the moral high ground with china quick. >> i think to a limited extent it does. but there's a big difference between president trump's style which is at times clumsy and offputting and why it is actually happening and you have seen this twice in the last few days the president had an idea which i thought was truly terrible to put the g7 at his resort and within three days the popular reaction was so overwhelming he had to make a hasty retreat. compared with the chinese banning tv shows because they make fun of president xi. or one of the comic characters they decided was like president xi so they banned that from china. we had theodore roosevelt was enormously popular and saved abb grizzly bear cub that was known as teddy's bear then made into a teddy

china voted for china must demonstrate what role is wants to play. the united states and europe must ask ourselves how do we ensure the intentional -- the international system maintains oximeter to values, even in the face of china's unfair trading, murky and corrupt investment and political interference to advance its own authoritiarian ends. this question affects the entire free world. and the world that wants to become free. bipartisan consensus on capitol hill about the need for a new approach to ch is strong. and the united states will work to identify the right policies to answer this question on a bipartisan basis. the united states and you weeur will have to have a stronger answer to this question if we stand together. the united states cannot respond to the chinese challenge alone. nor do we want to. china has already amassed enough political and economic might to coerce countries standing alen. the only way to defend the system we built, we built is by working together. the only way we can hope to challenge beijing's calculus is by acting i

is not china.hools in baltimore in which last year not a single student in six schools not a a single student could pass the state math and writing exam you have a crisis that would be there whether the chinese existed or not. we need very dramatic deep reforms in our own system. we need to inform the pentagon. this is a tired bureaucratic structure. it was originally built in 1943 so that 23,000 people using carbon paper and manual typewriters could manage a worldwide war. now we have ipads, smart phones, etc., we still have 23,000 people. it's maniacal. .it slows everything down and makes everything too expensive. so there's huge zones of reform we need the chinese currently are mopping up all sorts of international organizations by basically brawny Ãbribing countries. they end up either being the leader or pick the leader for amazing range of international organizations. not even prepared to start thinking about a campaign on the scale and complexity that we need in places like the food and agri

sometimes even though india and china have similar concerns about china, china's unfair trade practices, that hasn't automatically lead to the greater convergence between the united states and india. finally i think there's some differences over approaching partners and most notably over russia. india has an older relationship with russia. russia remains the largest provider of defense equipment to india, united states is a distant second. but i think they do in india is there are growing concerns about the russia-china partnership that is emerging and the way to address that is to continue to engage with russia. it's easy because india russia done at these intrinsic differences but it has been comforted by the fact the u.s. congress has a very stringent sanctions on russia and so that for example, india's acquisition of a major and anti-aircraft system from russia, the s-400, threatens the possibility of just sanctions on india. this shows the complications that may arise from these different perspectives on the partnership. let me and on that note, and thank you for your time and atte

the us and china are locked in an increasingly hostile competition in the south china sea, where chinance of international law. the us responded very slowly. it took a longtime before they fully appreciated what china was building. by appreciated what china was building. by the time china had really started militarising these islands, it was too late for the united states to respond, and nobody wanted to go to war with china over what they cold reefs and rocks in the south china sea. $5.3 trillion of trade transits through the south china sea, very near the spratlys. china's actions were, ina near the spratlys. china's actions were, in a sense, an attempt to be able to cut the carotid artery of global trade. so able to cut the carotid artery of globaltrade. so many of able to cut the carotid artery of global trade. so many of the conversations i have had in the city boil down to one concern, but china's rises now just boil down to one concern, but china's rises nowjust too rapid for the united states to manage. like those islands that appeared almost out of nowhere, there is a sense th

china.tay in this trade war without getting a phase i deal but without getting worse, what does that mean? bill: i think the world has adjusted. i think supply chains are steadily adjusting to this reality. we are seeing as recently as last night some of the companies -- one was identified as a result of a visit from president trump. it is very difficult for apple to run their business. that is not a good thing for u.s. consumers. flexibility on both sides should allow us to get to an agreement. francine: has this trade war changed the economy forever because of supply chains and well the o's supply chains go back to how they used to be? bill: supply chains are evolving anyway. china is not the low cost producer of a number of goods any longer. that change is happening. the world is changed forever. i think the confidence of supply from a single source for anybody in the world has reduced. spreading their bets, hedging themselves, arranging alternative supply chains, and i'm afraid they will

united states and europe's relationship as far as china is concerned with china. being in the position i'm in, i get lots and lots of visitors every day from europe. and it's always an interesting experience. i view them as my cousins. my grandfather immigrated on the german side. on the irish side it was my great, great grandfather that imbase rated and i think emof them as cousins. and i ask the german friends if they knew my grandfather which they didn't because it was 1898 when he came here. but in any event i guess i'm a little always i'm getting used to it. but i'm always concerned when they talk about our relationship. and i don't view us as having any kind of difficult relationship with europe at all. certainly we have differences. but i mean as far as the basic relationship our relationship is good. indeed, i'll give you a little anecdote in that regard. i had some friends not friends, people from germany come that were public officials and wanted to talk about a number of things. and the usual kind of issues that we talk about when we get together. and i

in china. f japan wishes to avoid becoming a passenger on the sinking ship, it needs to reduce its economic dependence on beijing. japan has already started to reduce its dependence on china. for example, many japanese companies have relocated their factories in china to southeast asia. the number of japanese citizens living in china has been n 2012sing from 150,000 i 2017.,000 in meanwhile, the number of japanese in the united states has increased from 410,000 in 2017.o 426,000 in is the japanese staying in the united states. -- blue line is the japanese staying in the united states. red line is the japanese staying in china. loser.s going to be for japan, strong u.s. policy toward china is welcome. japan is right to be on the side of the united states. thank you very much. [applause] >> i think you will agree we had four terrific presentations. they ran a little bit over our targeted time, but that is ok. as i understand, we have until 1:30 as a minimum, but maybe could slip over if there are

and china brazil it would seem china's growing influence on the continent isn't the easiest to sell to the public. and we're joined by carlos d'souza he's the lead emerging market economist at oxford economics he focuses on latin america while carlos now give us a sense of the stakes here how important is china for latin america. so simon singh is growing more than for latin america but i think we need to understand the kind of relationship is very good and china have is very different from the kind of relationship in china with stan economies are in very different from relationships of china has advanced economies like here in the united states so what we're looking at is that most of us in emerging economies are very export are. going to be exporters so they're dependent on exports in either things like oil or copper or or we call 0 products so that in the nation we're looking at this from pictures but overall we're looking at a kind of relationship in was in which china is buying all these drugs from that in america this is very different from the kind of relationship in europe of t

and abroad and later as china u.s. tensions continue to rise tech programs have found themselves in the crosshairs christiane is back with the show today. to break down how video sharing app has come under fire in congress and of course as we go to break here your numbers at the close. so what we've got to do is identify the threats that we have it's crazy for them to let it be an arms race is also an experience dramatic development only really. i don't see how that strategy would be successful very critical. if you sit down and. join me every thursday on the all excitement and i'll be speaking to us of the world of politics or business i'm sure both of those i'll see that. airbus has announced its plan to boost its jet liner production in china adding pressure to rival boeing airbus chief executive for a leader of china's national development and reform commission of china signed a memorandum of understanding to build more single aisle and wide body aircraft in china we attach great importance to our long term strateg

have you been to china? i have been to china. when was your last visit to china? in china, you will find that people are very free, very happy. you can't feel it? people are harassed, are threatened, they have a lot of complaints? no, you can see smiling faces on the chinese people. yes, people have some complaints. in any society there are complaints. but people have their channel, you know, to make their complaints known. we have the national people's congress, we have the political consultative conference. you know, if china did not have politics, if our people have no democracy — but china's democracy is chinese democracy, with chinese characteristics. you can't use your standard to judge other countries, just like we will notjudge you based on our standard. let's talk then about xinjiang, one of the provinces in western china which sees the greatest repression. now, you will know as well as i do, in recent days we've seen a new slew of leaks of official communist party documents which show the extent of the repression of the uighur muslim people of xinjiang.

>> i think xi jinping,ou china's president expects that china will win this war and think that china a number of advantag advantages, not just the much larger population. also perhaps he thinks is stronger work ethics that impresses me when i go to china. but i think china's leaders assume that democracy is outrageous. they have of course an extremely negative view of democracy and they would ever dream of you introduce an china, we just remember the tea on crush of cs leaders in the cold war, don't do with the soviet union did and don't liberalize. the chinese are optimistic that they will win this because they are catching up with us economically and because of our political system and internal divisions we are not going to be able to go. >> when we come back, your view, long view of history two. ancient and otherwise. how do you think we fair, do you think they win, how do you think the united states bears. ladies and gentlemen don't forget virtually every week that you can watch levintv, go to blaze tb.com/mark to sign up, lease tb/mark to sign up, call 844 levintv and don't forg

disadvantaged in china now. creating new balance links requires that chinese market access procedures be accelerated to make more transparent to enable foreign companies especially innovative ones to establish themselves in china with confidence. of the question. she repeated his mantra about globalisation and opening up chinese markets to foreign investment but he offered no new initiatives to ease trade tensions with washington and europe. china has been feeling the pressure of the trade war growth has tumbled to 6 per cent prompting the country to seek new ways to boost the economy. job for china will be happy to conclude high standard free trade agreements with more countries will also speed up negotiations on the china e.u. investment agreement at china japan south korea free trade agreement to china gulf cooperation council free trade agreement. michael and the e.u. delegation will now try to seize the opportunity he now heads to beijing where he hopes he can build on the shanghai goodwill with she to addr

be done is not china.ou know, when you have six schools in baltimore in which last year not a single student and six schools, not a single student could pass the state math and writing exam, you have a crisis that would be there whether the chinese existed or not. so, we need dramatic d performs at our own system. we need to reform the pentagon. this is a tired bureaucratic structure. i try to remind people that it was built in 1943 so that 23000 people used carbon paper and manual typewriters could manage a worldwide war. now, we have ipads, smartphones etc. and we still have 22000 people. its maniacal and of course this was everything down and make something too expensive. you have huge zones of reform that we need. the chinese currently are mopping up all sorts of international organizations by basically bribing countries and they will end up either being the leader or having picked the leader with the amazing range of national organizations. we are not even prepared to think about a campaign on the sca

and abroad and later as china u.s. tensions continue to rise tech programs have found themselves in the crosshairs christiane is back with the show today. to break down how video sharing app has come under fire in congress and of course as we go to break here your numbers at the close. you know world of big partisan movies a lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the path and shouting past each other it's taught for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. imagine that they know the 635 and you have a what a career and a career involves using your i phone line in your computer and things they could have been in an office and perhaps she started getting headaches so kids. are going to have to stop doing all this and this is tell you lou the minutes must be frightening my world became smaller and

china builds and controls key infrastructure, china acquires valuable resources and commodities and china exports its culture through no cost media, mobile devices and educational initiatives. in the process china often also exports corruption. the united states and europe should reinvigorate our relationship with african nations, relationships we build over decades of active trade assistance and security partnerships. similar opportunities exist in the indo-pacific, especially the nations recognized down side of chinese engagement. china believes it is a global leader, but for that to be true it must act like one. china acted like one very well when it recently took steps to combat fentanyl, a real problem in the world. next month china will have to expel more than 10,000 north korean workers from its borders to comply with the u.n. security council resolution it voted for. china voted for. china must demonstrate what role it wants to play. the united states and europe must ask ourselves how do we ensure the intentional -- the international system maintains its commitment to its values,

-china.in his trade were without getting into a phase one deal or getting worse, how will that affect the economy? bill: we are steadily adjusting to this reality that some goods will become more expensive. last night, some of the companies said they are really feeling the pain. was affected. it is hard for them to run their business. ability and ax reality on both sides that should allow us to get to an agreement. >> we are going to the holiday season. is it more likely to get a phase one deal because of how it might affect consumers and christmas? much right now, it is as sentiment as anything. and theness community thatst community believes investments will kick in. people will start taking actions , increases are pending. it is a behavior thing. the u.s. trade war changed the world economy forever because of supply chains and how they have changed?will they go back to what they were ? -- that changes happening in any case. the confidence of supply from a single source from anywhere in the

us withdrawing from the paris climate agreement and china reaffirming it it actually makes china the lesser of the 2 bat guns what doesn't help the u.s. image at this moment is today's a report by the united nations that said that the u.s. tariffs on chinese goods has hurt both economies and especially hurt american consumers at the heart of it all so doing business on the environmental front is also quite a tricky one right now and a balancing act tell tell us more about that trade deal though between the potential trade deal i should say between the u.s. and china where we are right now well china's foreign ministry insists that there has been constant contact between the 2 negotiating teams and just this week china has been more daring in requesting or demanding that the u.s. removes all of its tariffs on chinese goods before moving forward with setting up a meeting between a cd and paying n president donald trump no it feels like it feels like it may have this did it do it china is doing this because they feel they've made more concessions than the u.s. inciting this focus in con

david dollar has a paper about china china's. and we have written a paper with china's overseas ambitions, and then on the domestic drivers front we have with us today cheng li who has written about xi's transformation as a populist and what that means for china's foreign policy. jamie has written a great paper on the shift in china's legal development and the growing role of the party in that. and then rush has contributed to a prior tranche in this series, which was focused on continuity and change in china's foreign policy and what role president xi has played in it. and so has audrey as well, where her focus has been on economic state craft. let's jump right in. rush, i want to start with you because i think a lot of current debate about the united states' policy towards china, and also how many other countries around the world are reacting to china's rise really turns on what you think china wants. what kinds often resources and risks china is willing to wager to achieve some of those ambitions, which is essentially a debate

it's about china. society, i think, is amazingly united, using somewhere between two thirds, maybe three quarters of the people have absolutely determined that china is an actor. we seen something also interesting, appropriately, we haven't seen something, the dog that has not worked is the mass of people in hong kong have been criticized always rounding and sometimes violent protests of the young kids, the ones who are in black. i think most hong kong right now has decided there much more concerned about the excessive force used by the police, by the transcendence of carrying them in the intrusive actives of beijing. there much more concerned about those things than they are about the ethics of the youthful demonstrators. hong kong is fighting back. because they are fighting back, china is not moving it takes an armor and its troops into macon. i think china does not think they did so, that this would be best as people talk about. it's a reference to june 1989 when chinese troops advanced from the wes

wants china to open its markets for other and china's financial capital mccraw was keen for a show of european unity as the u.s. and china engage in a bitter fight over tariffs. that acknowledge me technology climate 3 absolutely decisive issues and all 3 have a guiding principle and i will stop there is the ability of europeans to work together to coordinate together and then talk affectedly with their chinese partner the national. she repeated his mantra about globalization and opening up chinese markets to foreign investment but he offered no new initiatives to ease trade tensions with washington and europe. we need to promote development through opening up and deepening exchanges and cooperation we need to join hands with each other instead of letting go of each other's hands we need to tear down walls not erect walls we need to stand firm against protectionism and unilateralism right we need to continually bring down trade barriers mccraw now heads with his pond european delegation to beijing where he hopes he can build on the shanghai goodwill which he to address to blues such a

and china. shery: how much will southeast china benefit?it's the first time there has been a communal overarching framework for people to abide by . i think it will be very beneficial. it ties people into a broader economic sphere. we will all be net beneficiaries. the philippines has been a signatory. i think we are moving towards succeeding and bringing the economies of southeast asia into a broad framework. it is a good thing. shery: how disappointed are you india is not part of it? >> india at some point will answer. southeast asia, china, greater asia, that's already a lot of momentum. shery: do businesses like you, such a large conglomerate, you are basically in every sector. what we arected by seeing in the world of trade and tech between the u.s. and china? to downplaytrying it in a way. does it affect you at all? >> very much so. on the trade side, less. we have trade with europe, china, the u.s.. i don't think that has fallen into that. the technology shift will have an effect. it is unfortunate. i'm a great believer in global sta

and china.-term basis, people are concerned about what it means for supply chains and we have already seen a lower level where in asia, countries like taiwan appear to be benefiting. it is hurting china a bit more. even india is benefiting with some shifting their business through india as well. up, thist is shaking could go on for some time. you could have a material impact on the way people address equity markets, even commodity markets. to say the repercussions of a statesriod of the united and china not being friendly to each other matters to business all across the world. we are seeing it already play out in asia. rishaad: isn't there a sense that they are not looking at a war of words as we had earlier this year? this is seen as a cease-fire, arguably, and that gives the markets the excuse -- the market participants to drive equities higher. >> cease-fire is good. people are getting used to that idea. we still have this deadline of december 15 hanging over everybody. people need some clari

on china. in 2008 he cofounded the project 2049 with mark stokes. he's been very active in this region for quite a long time and has a wide and distinguished career starting off with the consulting firm armitage international and he's gone onto different areas. of course he's the ceo and president of project 2049, a non-profit research organization dedicated to security trends, lines in asia. he's also served as deputy assistant secretary of state for east asia and pacific affairs. he was responsible for china, taiwan and mongolia, hong kong, australia, new zealand and the pacific islands. many of you have the bio for him. i think that one of the things that he has done in terms of being a robust thinker is and i think he's very proud of this and he has every right to be, is that in june 2019, he helped develop the long term in order to deal with china's long term strategic competitor, he created a new position in the department of defense called the new deputy, assistant secretary of state for

china wants those removed.t also wants the tariffs that were imposed on $110 billion of chinese good be taken away. also, we are hearing a conversation between u.s. and chinese officials about potentially reducing the tariffs on $250 billion worth of chinese goods imposed in 2018. this is part of china's attempt to get some equivalents because for them, sending president xi to the u.s. to sign off is a political risk for xi. we know that is a consideration now underway in china. of course, they can bring up leverage if they agree to these purchases. this is what we are hearing in terms of the tariffs. the question is whether or not trump is going to agree. he would bedering looking at potentially losing face, there are political risks for him doing a given we are a year out from the election. tom: absolutely. we know the democrats and republicans both want to see a strong, enforceable deal agreed with china. it also is tied to the tariff regime. both sides of the political spectrum want to see it in place to ma

the people of china. it's the communist party of china that is benefited from all this, and that's when the persecution of the refugees became even more severe. because china does not want the international community to see the horrific things they were doing to innocent men, women, and children that had escaped from north korea. with that i want to thank you all again for being here. if we could have one more applause for gordon. [applause] [inaudible conversations] >> booktv continues now on c-span2, television for serious readers. [inaudible] [inaudible conversations] >> can anyone hear me? welcome, welcome. my name is kai bird. i'm the executive director of the center for biography. over the past 12 years the center has awarded 44 major

china trade war and slowing global demand. our financial correspondent chelsea delaney joins us now from frankfurt chelsea narrowly avoiding recession may be good news but does it actually inspire confidence. it's certainly early if definitely after all of the worry there's been about a recession but it's also an extremely low bar to be clearing here and i don't think it changes the the longer term narrative for germany which is very constrained growth expectations the german economy is really been hurt by these trade changes through china and we continue to see weak growth in the manufacturing sector but there are some bright spots including consumer spending remains strong construction activity is strong so there is hope that the economy has at least bottomed out but even even if that's the case the growth expectations are basically for stagnation going forward and there are a lot of downside risks including from these trade tensions which china and changes for the for the auto sector with. growth with the transition to elec

janet would certainly want to —— china would certainly want to —— china would certainly want to —— chinas been pushing for more access to india markets and that is something india markets and that is something india has been resisting and that is one of the main reasons india also walked out of the negotiations when it was coming to the trade talk. —— the trade agreement. india has been wanting to give more —— india's thinking is that if they let china more access, it will allow cheaper chinese alternatives and it will hit their own market. what this does is during their bilateral meeting at brics, it could add to the existing baggage between india and china when it comes to trade because remember there are several outstanding issues, especially on that trade deficit which is heavily tilted in favour of china. me so much for that. i am sure you will be watching that. i am sure you will be watching that summit very closely for us. as we discussed on yesterday's programme, china is facing a major crisis as the price of pork has dribbled. the country is struggling with a year—long outbreak

we don't even need to contain china, we need to make sure that china does not become an imperial power that dominates the region. that is our aim. that is a doable and achievable goal and i think we should see it as a broader foreign policy that seek to prevent hegemony by any power anywhere, but it is going to be hard work for into a long struggle, in this country with china. >> i want to ask about your trip to hong kong in a moment, but just to connect this to a political residents, and the beginning of your speech, you critique this universalists project where you have the world a democracy everywhere. if you're a middle class american and you have been very very articulate and outspoken on what's going on in hong kong, why should we care about what's happening in hong kong? does that really affect the average or, last person in the united states. >> hong kong is a collective of what beijing is capable of. first, hong kong, then taiwan than the whole region, and then we get to what beijing has already been telegraphing, which is they want to shut us out of the region. they want a re

influence of china.but in your book you talk about how you do say it is in x essential threat. i wonder if you can articulate a little bit more about why you say it is a deeper threat and that others have previously characterized it as. >> i say it is a threat in the sense that in two different ways. the first is if they work at it and we are dumb enough, they could create a coalition between a balance of power against us in a way that we have not experienced in american history. because for much of the first hundred years, we had behind the royal navy for the second hundred years, but a huge worldwide alliance so we don't know what it is like to live in a world where there is a hostile government of course that is a coalition is capable of over matching us. that would be an existential threat from the outside. but there are all sorts, troubles with the national basketball association and the problem with winnie the pooh, and the problem with the cartoon that is now banned from china. because it had a sh

-china trade war. vietnam inc. singled out of theirs. because trade surplus with the u.s. and we have the likes of singapore included on the watchlist when it comes to currency practices so they have been caught pretty much in the middle of it inoming collateral damage this prolonged u.s.-china trade war. singapore'sng that front called on all nations to come together, find solutions and perhaps focus on things that they can't control like smart cities, how they should come together and think of ways to ensure that these intensive -- incentives can be carried out. i caught up with the u.s. commerce secretary and asked for an update on the phase one trade deal between the u.s. and china. >> there was a suggestion about alaska, a suggestion about hawaii. i'm sure the chinese will have and suggestions in china that should be the easiest part of the whole thing to negotiate. >> the trade deal will be signed in november? >> you will see it wonderfully .efinitively reason why natural it couldn't be, but whet

china r.o.k. fta and a china cooperation council fta. will stay actively engaged in cooperation within the united and --, the g20, a pick, move economic globalization forward. china will continue the belt and road cooperation. today, with 137 countries and 30 international organizations, sign a has signed 197 documents on belt and road cooperation. china will follow the principle of joint contribution and shared benefits. follow the philosophy of open, green, and clean cooperation, and a high standard, people centered, and sustainable approach. high-quality belt and road cooperation. ladies and gentlemen, friends, looking forward, china will follow the new development and the strategy of innovation driven development and redouble our efforts to foster new growth drivers by shifting the growth model, improving the economic structure, and creating new growth momentum. such efforts will not only bring china high-quality development, but also new growth opportunities for the global economy. i have faith in the bright prospect of china's econ

and china.t, the inclusion of china into the msd i index has opened channels for foreign investors to take a new look at foreign markets, so demand may be relatively higher. for all these reasons, the discount exists and may be great for investors who have access to the onshore market as well as the hong kong market to do analysis and make sure they are buying in the right market. paul: one particular stock we are looking at very closely today is alibaba. 176pricing coming in at hong kong dollars. alibaba is not going to be traded in china, but is that an example of the hong kong discount as well? wax i don't think so. we need to step back for a moment. the big story is that this is the most important technology in china for the last decade. locally having access to this technology company. that would be like the u.s. not having access to amazon. the big story is that alibaba finally has shares trading in hong kong, which is important to local investors. i think the discount that currently exist