they probably will be exactly the ruling party as the communist party of china is in china.. and the chinese people know that the communist party of china has brought about change for the better for the chinese people. if they can keep doing this, we want to keep them in office. victor gao, we have to end there, but i thank you very much indeed forjoining me on hardtalk. thank you very much. hello, the latest live weather update your from bbc weather. the best of the de's whether has been a northern scotland. 0ne best of the de's whether has been a northern scotland. one or two summers around here. plenty of cloud elsewhere. the other end of the uk, south—west england, we are seeing some quite hefty thundery downpours in somerset. cornwall, devon, towards somerset, may stretch towards somerset, may stretch towards the cotswolds. some areas of rain affecting northern england, just beginning to pull northwards. and tomorrow, scotland, no pressure in charge this weekend. we'll be dodging the downpours again tomorrow because it will still be close by. some heavy downpours within

china sea. i will be glad to talk about and answer questions about hong kong and taiwan because there a lot of comment in the book but i want to draw your attention to the south china sea. it's extremely important and it reflects a new tack tick. that's the thing we did is the communist party. the communists invented a new -- so what's happening with the south china sea is it's a trial run of what they call gray zone tab pics. what is the gray zone tactic? gray zone tab that means it's about territorial -- without using the military so basically enables the country to extend its territory without a traditional war. this is how it works when china takes bended the south china sea. the body of water in southeast asia. it's the major trade route so 90% of the trade going to china goes through that route in china in several countries including malaysia the philippines and vietnam share claims of this body of water could sometimes there are historical disputes as to what area is yours and mine. this

china is focusing on us. so we want to focus on china because china has a very strong agenda with using any kind of energy and signer g to expand its influence over all the countries of the western world. and therefore, we must have an agenda to what is the kind of investment that you can have all the kind of trade, authentic operation because we, the country which is the same way prevents any sort of corporation. even now, when we're talking, china is totally obscure and is the country of censorship, about the real origin, nature, and consequences of it. and europe is now coming to realize that china is no longer a purely economic power, but also a political one. meanwhile, the dock workers union in paris has come to terms with its new chinese bosses and is trying to negotiate workers' rights as best it can in the media with other staff over the last 10 years. the, our experience with the chinese has been that they always negotiate as hard as they can and demand as much freedom possible. but if you set your

it was part of a china, it was returned to china. and when you have a years worth of riots in the street, which are being heralded by the united states by britain, no one says any words about it, there's just kind of touch, touch isn't a terrible candidate. so you know, you, you want to put a rosy face on this thing and say that somehow these people. but is it a coincidence that tibet, taiwan, hong kong, sion, john, south china seas. these are all areas literally surrounding china, which are being used to attack it. and this is what you have in china. china is retreating and you're getting the exact opposite of what you were aiming at by attacking it. china is in fact being more defensive and big. why? because us and everybody else says that china is terrible. you cannot deny the daily drumbeat of nonsense that comes out of the press there. where is the evidence hallway? where is the evidence? i mean, all the evidence was passed by great britain, by germany, by everybody, but under pressure the united states, they all withdrew and sa

you look at this navy, china just has to win the east china c and the civic. so all of these naval assets that they're building and they've got 350 today. they'll have 700 in 57 years. you know, they're going to double us need size of the u. s. navy. the quality of the chinese armed forces is now basically on a peer level with the united states. in fact, they're even ahead of us. in some areas they have hyper sonic missiles, deploy base cruise missile are nearly gets within the 1st island chain. they will get song and china knows that and that's why you're seeing them be much more belligerent. when we talk about on corner, we talk about taiwan. they say, mind your own business, somebody that came recently, which i thought was interesting as united states, now we're pushing your hand to double their military spending. japan is also mentioned taiwan. now we're not going to let you take. i won. and the chinese diplomatic looked at that and said, maybe we'll sink one of your ships. they're very wary of japan because they like to say americans like to talk to littl

if that's true, china going nowhere. if that's true, china would never have achieved that. that has already it's he you know, it's the young chinese you, extraordinary knowledgeable about the world and that's the back. we have the post 94000 generations, extremely lifelong about. i mean, i'm not saying wikipedia, is that great, but i mean, we compete is banned in china. yeah. but, well, basically you can still get cnn. let me, let me give you one exam. ok. i'm so sorry. sorry. yeah, that's, yeah. but listen, i think that the year before 2019 alone about a 120 a 130000000 chinese people went abroad and came back the largest tory, the outbound part of the country in the world by far so. so to say that somehow chinese people don't know about what's going on in the world. i think that they're battling mistaken goal still be there more from the leading chinese venture capitalist and political scientists. after this break after the pudding bite and some european leaders, such as germany's merkel and france's macro called for renew dialogue with russia. the baltic states in poland

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in the south china sea.rently four chinese vessels patrolling this area on the outskirts of the shoal. there's trouble in the south china sea. the chinese government is amassing ships, taking over reefs and rocks. we sail into occupied maritime territory to take a closer look at beijing's aggressive policy and the militia it uses to enforce it. five years since a landmark legal victory for the philippines, we ask whether china is adhering to the ruling. what you get is this overwhelming narrative that's now global of china as a bully, china as a rules—breaker in the south china sea. all chant. we head straight into the century's hottest geopolitical dispute and meet filipino fishermen caught in the middle. bolinao is a fishing community in the north—west of the philippines. george has been fishing since he was just 12 years old. george's sonjr fishes too, but worries for his future. george and jr fish in the hotly contested south china sea. $3.5 trillion worth of international trade passes through here every

a crucial move in china, china has caught up to japan. the party has allowed the chinese people to pursue the struggle. a great part -- chinese characteristics in an era. in this new era, we have two strengthen power over our leadership and coordinate --in short, coordinate the implementation of this and a comprehensive strategy. upheld and improved the system of socialization -- socialism to modernize china system and opacity for governance. we remain committed to exercising governance for the party and develop a sound system of interparty some -- interparty solutions. we have overcome major risks and challenges, our first centennial goal -- the field our first centennial goal and is out steps to achieve our second centennial goal. all of the historic achievements and changes in the cause of the party have provided the cause of national rejuvenation with more robust institutions, stronger material foundations, and a source of inspiration taking greater initiative. for the struggle, the party and the chinese people have shown the world th

china. his response, as you say, has been robust, that quite angry about these accusations that have been made for facilitating the potential hack. but they are leaving the question at the chinese government may have accommodated groups who tacitly are working from chinese soil, who may be hacking, in a similar vein to the way that the, the us is treating russia as well and saying that various hacks are coming from russia, what makes this narrative difference as far as beijing is concerned? well, beijing is not acknowledged that there's any groups. they're just pointing out that if there are private interests, just like there are private chinese citizens who are for their own enrichment, stealing intellectual property. i don't think, but american steals something from germany or from russia. it is attributed to the nation, but for some reason, the chinese feel that every time you know anybody, chinese shows up there automatically a spy. you'll note that they've just refused 500 students who

in the south china sea. we have a left wing government here that had its doubts about agency. you'll be your best bet, escape spanish. e u member greece broker, political taboo by signing with the chinese greece has also been silent about aging actions in hong kong. money, francis cocky says, makes you dependent. she's particularly worried about the use divisions over china . but the realization that europe has to speak to china with one voice is slowly gaining ground. i mean, as i said, there's not yet reached a consensus on how to deal with china. what it's added to more than china is when making yes a fee on europe has no clear analysis.

the south china sea. we have a left wing of wind here that had its doubts about us and you'll be skipped. the must be you member grease broker, political taboo by signing with the chinese. grease has also been silent about aging actions in hong kong. money, francis scott, he says makes you dependent. she's particularly worried about the use divisions over china. but the realization that europe has to speak to china with one voice is slowly gaining ground. i think, i mean, it's not yet reached a consensus on how to deal with china. what it's added to more than china is when making the europe has no clear analysis. china is going to behave from western countries and is doing particular economic policies in europe. no longer has the tunes that china has, namely update to enterprise. and china is clearly using these to be the career crisis has highlighted, europe's lack of cohesion. even italians like ricardo rocky also felt that china exploited the divisions by sending aid to italy. europe eventually came up

china is focusing on us. so we want to focus on china because china has a very strong agenda with using any kind of energy and sign their g to expand its influence over older countries of the western world. and therefore, we must have an agenda to what is the kind of investment that we can have all the kind of trade, authentic operation because we the country, which is the same way but events. amy, so it's a corporation even now when we're talking, china is totally obscure and is the country of censorship, about the real origin, nature and consequences of it. and europe is now coming to realize that china is no longer a purely economic power, but also a political one. meanwhile, the dock workers union in paris has come to terms with its new chinese bosses and is trying to negotiate workers' rights as best it can. it can be a video with, with other staff over the last 10 years. the, our experience with the chinese has been that they always negotiate as hard as they can and demand as much freedom possible. but

threats posed by the rise of china. more and more people are now asking what else are the chinese hiding. well, mr. shad egg didn't need any wake-up calls. he's long been a leader in addressing threats from china as well as powell issues in general -- policy issues in general. he's currently the chairman -- well, he's the ranking member, maybe chairman in the not too distant future, but ranking member of the house foreign affair subcommittee on the asia-pacific having served several years ago as the chairman of that subcommittee during republican control. so with that, i want to welcome mr. shadegg to make his remarks. >> thank you very much, walter, i appreciate it. i want to thank both you and the heritage foundation for this invitation to speak on what is really, i believe, a very important topic, and that's the lack of transparency and cooperation inherent in the communist chinese government. fortunately, as is the case with so many of the initiatives undertaken by the heritage, the hard work and focus and innovativ

and if you're jamie dimon you're in china, you all want to be in china and it's the first thing theld do is get our own house in order and stop funding the rise of our adversary in the conversion of china's economic power in the military power that was a key point in the speech, the real problem in america america's talking out of two sides of his mouth on one hand we have policy in d.c. from both the administrations that have tried to form a new strategy towards china and on the other hand look at the economic form it will host communist party officials and promote u.s. investment into china and vice versa. we are not really playing a coherent game and were not coherent on china as a country even if we are bipartisan in washington that is our biggest problem in as soon as you stop that and as we get wall street to reinvest and we stop investing in china then we can think about winning this game, until then we are not there. maria: it is about money, it is just about money for those bankers. are they not recognizing the national security risks? >> i was a wall street has very detrim

foreigners want to contain china, cd and ping, use the word today in slave china. in other words, foreigners want to do to china what they did during the colonial period. and that is really a highly motivating line of reasoning for him to use. and it creates a kind of emotional connection with people in china. you can still get very angry and emotional about the past. richard mcgregor joining us from the low institutes. thank you so much for your insight on this chinese and 10 ari of the communist party. we appreciate to the u. s. now where the american actor bill cosby has walked free after a court overturned his sexual assault conviction and ordered his immediate release, he was the 1st u. s. celebrity sent to prison for sexual assaults since the beginning of the me to movement. now 2 years on the pennsylvania supreme court decided that cause they never should have faced charges in the 1st place. after striking a non prosecution deal with a previous district attorney. and just like that, bill cosby was free. his car sped by the walls of the pennsylvania prison in

it was the opening between china and the world and china's and orma size -- china's enormous size, whichated the conditions for four decades of rapid growth. here we are, firms about chinese stories -- stories about chinese firms going private, perhaps we are swinging the other way. the connections to the rest of the world are two various metoo important, but certainly the risk -- are too various, too important, but certainly the risk is that we swing the other way. matt: the reason you do that is that they point out a lehman style collapse could put china into a gross trajectory that looks a lot more like japan then a covid recovering u.s. is it possible that china has lost decades? tom o: we have spilled a lot of ink arguing that risks of a china financial crisis are overstated. china has a huge savings rate, which means it's banks have a very robust basis for their operations. at the same time, if we are thinking about the u.s.-china economic race, we are thinking about a 10, 20 year timeframe. we are thinking about the huge amount of debt, which china has already taken on. clearly we

shery: china credit team later wilkins with the latest on that china credit market.saying she expects continued inflows into the chinese government bond market. given that diversification to global bond portfolios. joining us is the head of asia-pacific fixed income at alliance. great to have you back, jenny. let me ask you as a first question what i asked rebecca, why are we seeing this effort by the chinese government, to really make the bond markets more transparent, for account ability? to really reduce moral hazard and financial risk? why now? >> first of all, covid does not really change the overall trajectory of china's default past. for credit investors like us it is not the default itself that scares us or concerns challenges us. it is how default risk is priced. how distressed securities are traded. and how defaults are dealt with. the key challenge we are looking at in the market is the lack of those factors, particularly consistent, transparent, and predictable resolution process. we have seen progress made in areas over the past 12-18 months. and there a

supported china's communist law. certainly not a coincidence, because on this day the academies welcoming a group for enjoying the 1st time a message from a more search china, through the world. july, you will flash local washer, found the china has been called the sleeping lion. now everybody feels that the lion has woken, but this line is benign. it's a civilized line, a lie and open to corporation, who wants to peacefully co exist with the people of every other kind of what. yeah . so maybe needs however, tensions arising between china and the west as well as they jing and some of its neighbors. it is here that causes idea logically groomed for this. becoming a member of the communist party is part of a strict selection process. and once they've entered the party, they send to academy like this one to make sure they know the party line. there are more than 2000 such schools in china. the shanghai academy is among the top 5. it's trainees are mostly senior officials, part of the training and overview of technology

, that it's cumulated by china. i think that disclose. he's thinking that he's going to make sense for us to be friend. russia because chinese, the big the big don't you think from through incidentally, so that's a form of kind of projection that rushes to the types. i think you were saying where and i and we, and this is, it's all self inflicted. we did it for selves. ok. and you and i have been talking about this for years and years and years, and now it's, it's rate in their face real life. what have we done? and as you pointed out, the report after report keeps the drumbeat going. it's like, you know, you know, there's only one here. okay. they can't really change gears and they can't change the their destination. i mean there's, there's stuff because of brushy gay because of trump. and because of the media hysteria in respect to what the buying really wants to do, it's almost pre determined and that's pretty. but benteke go ahead. well, yes, it's re determined and their desires have very all this like to me cru

investigation team was in china they were in china for two weeks and spent one week quarantined. another week they spent a couple of days sightseeing. so that when they went to the wuhan lab, all they did was reading the report they did not even get to really walk around the lab. in the longer time lapse between when this first happened versus our research investigation, the longer the gap is the harder it is to find out what truly happened. i am pessimistic what we will find out what really happened. but i do think this is a wake-up call. it has to become a wake-up call for all of us. as we let it go by, i hate to say this but we deserve it. we deserve the next crisis our government and the cover-up is going to happen all over again. none of us are going to celebrate our liberty again in exchange for safety that does not exist. this needs to be a wake-up call for all of us. i think as long as we keep pressure on petitions to continue to investigate and hold china accountable for what happened with the coronavirus because again this is actually a worldwide event. very few people

-china threat.the other hand, china pushed back saying it does not accept american interference in what it calls domestic affairs and will not be lectured to by the u.s. the next big question, will this meeting lead to another meeting of president xi asian and president joe biden? maybe another set of meetings between the summit of the u.s. and china possibly later in the year. for that to happen, we need more talks. given that these talks took so much effort to arrange, it does not augur well for smooth communication between the two superpowers. romaine: that was colin murphy, given us that report. we are going to pivot coming up to eight slightly different topic. we are talking about -- the rise of the east. there was a time when it was the rise of the west. there was a period between the 1490's and 1530's. patrick wyman has a new book. we will speak with him after the break. ♪ joe: the four decades between 1490 and 1530 saw the development of everything from printing, mass media, globalization. a

i'm sicilian and pinning my hopes on china 5 down that the cooperation with china will help the tourist industry to grow in sicily. and i don't really like, surely i didn't go see last year we had president choosing ping here lie. the defense wants to see more chinese tourism and the chinese are very curious about italy. our bizarre grouchy no longer holds political office. the government, he was part of only lasted for 15 months. but the letter of intent that he negotiated with china is still valid. when i came in, i took on these projects and actually delivered so accelerated the processor made the final agreements with the chinese counterparts. and we implemented them we signed. and i do think that this is the base to economic opportunity that italy has to cooperate with china doing business together. this deal with china alarm to europe easily is after all, one of the use founding members, as well as part of nato. many saw the signing of this contract as a break with the old alliances the logic of the italian government backed and was purely economic. they said everyone else was doi

the leader is a hand picked person from china. china is not dumb.nto -- tedros is his name, they went into his country, they loaned him money like a loan shark would loan money and they got him the position as head of the world health organization. they certainly have failed. and this is why we need, whether it's the quad or g-7 or the g-20 but we need multiple nations looking into this and holding china accountable and starting the shaming in some way. they should be ashamed that they invented the bioterrorism weapon. they should be ashamed they leaked it from the lab. they should be ashamed that they covered it up. they should be ashamed they can't even make the vaccine right now. so this public shaming has to come to fruition. >> so the concern is that the biden administration is giving this some lip service but not actually doing anything. listen to what the former director of national intelligence, john ratcliffe, had to say about this when he spoke with maria bartiromo recently. maria: what should be the accountability that you would like to s

supported china's communist. i mean, that is certainly not a coincidence, because on this day the academies welcoming a group for, for enjoying the 1st time. it's a message from a more search china, through the world. july, you will shortly washer, found the china has been called the sleeping lion. now everybody feels that the lion has awoken, but this line is benign. it's a civilized line, a lie and open to corporation, who wants to peacefully co exist with the people of every other kind of what i'm looking for. however, tensions arising between china and the west as well as they jing, and some of its neighbors. it is here that causes idea logically groomed for this. becoming a member of the communist party is part of a trick selection process. and once they've entered the party, they send to academy like this one to make sure they know the party line. there are more than 2000 such who in china the shanghai academy is among the top 5 . it's trainees are mostly senior officials. part of the training, an overview

china. he doesn't just talk about making china great. he talks about making china great for the world. he talks about promoting these chinese systems, socialism with chinese characteristics and having these values go out beyond china . and we have seen that with some of his projects, the beltran road initiative, for example. and the way china is really reaching out to other countries through different types of diplomacy, including vaccine diplomacy that we've seen with the pandemic. so there's going to be a lot of talk of, of glory, of greatness of plans. but what we're not going to hear about is the failures of the communist party. we're not going to hear about the blend is such as the great famine of the 1960, which potentially killed millions. we're not going to care about the protests in crackdown and gentlemen square in 1989. this is a very carefully choreographed piece of propaganda to this mormon that they've been working on for months and months and certainly china, security agencies

china. you'll hear from one top money manager with $5 billion on the line how he's playing a big pullback in chinese tech stocks plus, dethroning the dollar. the rising risks as china develops its own digital kerr aents. could it change the game for the entire global economy? >> later, the big bet. why some investors are rolling the dice on a casino comeback in macao. the three stocks you need to keep on your radar we start with new developments out of the white house at this hour the biden administration issuing a warning to u.s. businesses operating in hong kong the message, the risks are rising there as china cracks down on democracy. cnbc's eunice yun in is beijing with more. >> just the threat of president biden's advisory to u.s. businesses operating in hong kong set off chinese officials today. the official overseeing hong kong accused the u.s. of attempting to embolden anti-china trouble makers and vowed china would retaliate against any further sanctions on its officials. president

shares and china shares. china shares down sharply, so the question is not from a contagion standpoint of the regulatory issues from china heading to the u.s., but just the risk aversion. dani: abigail, thanks so much. both the u.s. and china are highlighting deep differences, and that is after their first high-level talks in months. let's get an update from bloomberg's emily wilkins. does the relationship seem like it is continuing to deteriorate, or are we having progress in these talks? emily: we are today from deputy secondary of state wendy sherman , speaking with foreign ministers there. these are the first face-to-face discussions with u.s. and chinese diplomats since we saw that acrimonious meeting in alaska several months ago. what you heard from the deputy secretary of state was that this was a forthright conversation, a professional conversation, but also a tough conversation. the stated goal from the white house is really to keep the lines of communication open between the u.s. and china, coming a

was sent to china. and one, during the great awakening of chinese people and china under the unification of the combination of communist marxism and are china's internal movement. ccp was funded. and this is a great invent, guided by the whole which fundamentally changed funds. but they changed the direction of the child, the child development and its process. and it fundamentally changed the future of the nation. and people say, demands to change the kind of rich world development and arrangements. and i was and a structure and says he was then what him mean? foundation was his funded well wishing it was trying to get but trying to buy slides country and trying to get that slide for the people. this is how strong the 1st of home 1st aim was, what you were in the past 100 years c, p. unify, the people that the people and we worked very hard, fought very hot and sacrificed a great do. and also it created a lot everything you got to which is one and one from fema, which is to realize the great revitalizat

in china, you may be out this week, celebrations will highlight china's rise in recent decades and glorify early days of struggle under founding father miles on the communist party as route china for 72 years of its 100 year history. no other dictatorship has been a successful at expanding international influence, adding military muscles and overseeing economic growth. the parts you will gloss over policies like the great leap forward in which millions starved and the cultural revolution of half a century ago. you go down here and there be no mention of the bloody crack down on pro democracy protesters a gentleman square in beijing in 1989. you'll see this week the party will be all about promoting the success of its marxist lennon, its political system, and boosting supreme leader she jim payne, who enjoys more power than any leader since now, john is brian of state capitalism, whether the global financial crisis, while many richer nations floundered despite initially mishandling the corona virus outbreak which started and we were trying as economy is back on course, most other countries

we china all together. but one single count, we can't have a strong relationship with china that sure. so if you go in that interaction alone as equally sure that you will lose that relationship. so i believe that is the most important mistake. above and beyond party politics be the left wing, centrist, or conservative. what unites these politicians is the worry that europe is not speaking to china with one voice. because china is focusing on us. so we want to focus on china because china is a very strong agenda with using any kind of energy and sign energy to expand its influence over all the countries of the western world. and therefore, we must have an agenda to what is the kind of investment that you can have all the kind of trade, authentic operation because we the gen 3, which is family way prevents any sort of corporation. even now, when we are talking, china is totally obscure and is the country of censorship, about the real origin, nature and consequences of damage in europe is now coming to realiz

china should be seen. it's quite natural that diplomats would kind of take heed of that and start to follow his lead. what does this mean for the other nations in the world and looked at more specific? what about the nations in the immediate vicinity of china? in asia, i'm thinking for india, i'm thinking of, say, the philippines or region such as taiwan, which have had long running disputes with china. what does this new assertiveness, this new idea that china is a world class power mean for these nations and their relations with china? well, i think it's a really interesting question because i think the answer to that is, is changing kind of week by week at the moment during the trump administration, when relationships with us eyes were frayed paging, seem to feel like a good treat countries i'm trying to periphery as wanted and there would be limiting consequences. you can make them um, it could offer inducements in many cases and believe that it could get what it wanted. but the, the, by the ministrati

that it's intimidated by china. i think that disclose, he's thinking that he's got to make sense for us to be russia because chinese, the big the, big the from, through incidentally. so that's a form of kind of projection that rushes heights. i think it would thing where i and we and this is, it's all self inflicted. we get into our selves. ok. and you and i have been talking about this for years and years and years and now it's, it's right in their face. realize what have we done, and as you pointed out, the report after part keeps the drum be going. it's like, you know, there's only one here. okay. um they can't really change gears and they can't change the their destination. i mean there's, there's stuff because of brushy gay because of trump and, and because of the media hysteria in respect to what the buying really wants to do, it's all pre determined and that's pretty pathetic. go ahead. well, yes, it's re determined and their desires have very all this, like to me, crushing trying to quarrel? well, i mean, ni

or we work around china. that's kind of pointed christy. what about that last part? why exclude china from the deal at a time when it seems like tensions between the us and china, are significantly rising? well, it's meant to try to contain china, and as you said, china's power is significantly rising and as a grow that spreading its influence, its soft power is technology and its agenda and its values. and that's something that the u. s. has grown quite fearful of. so while yes, on one hand, this is a technology war. on the other hand, this is also a war of values and soft power and influence. and right now the u. s. is on the losing side of that. so by doing this deal, by basically excluding china, you're essentially telling other than the other nations that, hey, we are forming a coalition against the country that we're excluding. so the u. s. is trying to form the framework of this proposal and basically spread the western values and the western agenda not saying hey, we're going to all work together by h

is it russia or china? so trump will say was china. but basically the, the national security oper. i wasn't going to go along with it by the seems to be also thinking, well, we've got to think about china and the people he has some of the economics people who are working for him. also thing a chinese economic giant that we have to deal with that. but you have all of the, the, the blink kins and the middling bureaucracy that is still absolutely fixated on russia. and clearly the europeans and bar is johnson and use the barrel and everybody else. they all still in this mindset that is the enemy. but it's really interesting, georgia for 5 years. this is their red ticket. and so we're there, you know, there's a new president and, and he wants to change gears why everything was going so well for careers were made. ok. you know, advancements, you know, cable news the gigs and all of that. i mean they, they, in an institutional way, i'm going to think collectively, extremely dishonest. but any additional way this has been a great me trade for them and why should change ok? go ahead. well,

they're afraid of reprisals from china because you in china us do china the economies a highly coupled just briefly how serious is that threat of reprisals? absolutely. serious. china in terms of goods trade is the most important partner for example of germany. and we will not see an immediate change in germany's foreign policy. we have 3 trade, sorry, an investment agreement negotiated between china and you and actually it was already settled, but then the, you understood that they cannot proceed without the us and give them all the problematic development. so if china, on the other hand is going to counter react with compet sanction, what we can expect is we are really in a risky situation. go to meetings, will be worsening. and that's what i think a lot was, i'm sorry, we have to leave it that we've been out of time, but thank you very much for that. thank you. and now a quick look at some other business stories making headlines. finds a bone take cobra, 1900 vaccine, as i'm trying to become the 1st foreign job approved in china. chinese regulators completed an expert review of the

is not anti-china.n her plans to promote a bipartisan infrastructure package. she warned she would not put a bill on the floor prematurely. democrats are still working on the details. bipartisan negotiators may announce details as soon monday. tobacco giant philip morris is said to be planning to end of cigarette sales in the u.k. within the next decade. the male is reporting that the ceos strategy to phase out cigarettes and turned to e-cigarettes. jackie mason, the rabbi turned comedian known for his irreverent brand of stand up, has died. he was famous for his sharp wit and piercing social commentary on relationships and judaism. he had appearances on broadway and the ed sullivan show and one -- and won a tony in 1988. he was 93 years old. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: let's take a look at the virus impact in asia. the liv-ex are underway. mean

as criticize china saying china is stonewalling, china has retaliated, china has imposed sanctions on.s. officials, including the former commerce secretary, which i imagine does not get the biden administration that concern. but there are a lot of things going on, but at least the two sides are talking. that is the key message that we get at today. david: everything is happening over there. csi 300 is down about 2%. they are also getting straight on the trend. risk aversion putting money back. 289 is your chinese 10 year yield. lowest in about 12, 13 months. let's bring back in virginia, helping us through to map out this week. she is global cio equity at allie on's global investors. -- alliance global investors. everything from covid 2.02 peak growth, to maybe inflation, sounds ago a lot of bad news. bad news could be good news for these markets. do you think we are closing in on a point or someone at the federal say something dovish in these markets will slide? >> i think it's possible. i think we are in the second half of the year that will be this glass half-full, half empty conte