china a. the found on decades ago goes to this is not about how disease. the remaining will allowow conditions like lights and treasury will you address of china and on the u. having not enough time to have a judgments against getting our united states power harris including managing chase face a twenty five point [inaudible] twenty china china's. so that if i the fab ourselves if beijing asia very good friend charlie i was trying to convince rise right by me i mean. backing john genuinely china today by nine hundred and forty three twenty one and same means the charge on on a table. more. fighting fighting reflects light. city city transportation was not start transfer london refused to renew. your license right right service or last last summer ember value in restore criminal. conduct. companies now is now seeking team on my slice to prove it change change ways and is always already use it is. twenty four seven seven phone never never land in london and changing much much of the senior management judge judge struggle to room to check day. when saudi arabia drive driving since sunday monday and son alright already sees chance cannot change and? unity factor in my life. learn serving women weren't allowed last ride dry cell tells now feel. drivers any coming show sure [inaudible] we'll. i felt so your theory on the out

slowing to result a result and retired retaliates ali and tory tory the impact of the impacts from china china chinachina has promised promised to invest suppose you imposed it for tit for tat tat tara tara us it's on you on us u.s. goods and this is going to struggle it's and this is going to strongly if only affect both effect both the e.u. and the u.s. and china china in terms of in terms of concerns consumers humors and purse and producer do serious fears and and in fact in fact we're already seeing some of the being some of the blowback from that low back from that. china has stopped on china has stopped purchasing just a soybean soybeans beans from the from the u.s. u.s. due to the through the threats threats. potential potential trade war war. and they canceled a canceled about sixty three out sixty three. thousand thousand metric metric tons of sick tons of soybeans by mid april mid april and they're on their purchases purchasing a seeing a lot more from odd more from russia alone russia a lot more for from brazil and brazil and americans and american farmers and first and michigan michigan

china china's gluon times they say is a including within the changing. but it's in the downtown june execs they could a come with some of those first advancement from camp countermeasures. undoubtedly the plane may make going one of in the middle six executable to entrance twenty within with it hand to hand and china china one andnd o one more. thing is. that. i'd like i'd like. after brexit on the same things and held in place in its class was wisconsin's to enact anti lock locals bloody bodies will make a major issue in the us. government stands which is facing and how the relationships that is in the chinese nice items i sign. it's most most time nine it's the right label be amenable w. saying they they say this is a to a with eighteen and a sense because coastalççzñvpx] 06/21/18 06/21/18 [captioning made possible by democracy now!] amy: from pacifica, this is democracacy now! pres. trump: we are signing an executive order. i consider it to be a pretty important click of order about keeping families together while at the same time being sure we have a very powerful, very strong border will be equal if not greater than previously. amy: president trump reverses himself, sig a

china is not possible. because the u.s. exports to china is much smaller than china's exports to the u.s. u.s. export last year, about $130 billion products to china, where china exports $500 billion products to the u.s. so dollar for dollar, only to a limit. so we are thinking about a arbitrarily very bad situation. so if china -- actually, president trump once mentioned china should reduce trade surplus by $100 billion. that's probably, you know, a number that we used as a reference in this hypothetical numerical analysis. >> the trade war would have to go well beyond -- >> oh, yeah. well, of course, yes. yeah. >> just for the record, i don't want to get into a back and forth with my friend jimimg, but the numbers he gave on inflation coming out of the trade war between u.s. and china for the u.s., at least in my opinion, would be vast exaggerations. so just as the -- the scale is different on that issue, i think the idea that there would be significant inflation in the u.s. from this is not something i would rely on as a forecast. >> thank you. okay. >> yes. my name is jo, i'm with new rules

china it come comes on board and i lies he's young china chinese or. clive mightt be changing under u under mr trump has . a a single andnd this is goe rest wt provide that i bring my knees a ice has nt moren missile warnin. than where the forty four year long lines. it as that and then was led by one call kind man. dina rather. worries or real recession as mentors. australian one minister lee measures as hazardous saudi changing fresh restaurant hostess in a city statements and that. should be. conducted others there's was business onsite solutions free free political at a crossroads rubber governmen. changing its its willingly or more and government and companies recognize as one china policy. which was just in to add all elementary services businessn. ani decided i change. and a little the one china principle this is our favorite require. that jane changing so sorry mark does doesn't. hydrogen is west including. tom plans and and and about a ayoo'=c8q?o?oñÑgccgcggc 06/05/18 06/05/18 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! >> simply put, does the president believe he is above the law? >> certainly, no one is above the law. amy: as president trump claims the power to pardon himself and to dismiss the mueller investigation, is the nation on the path to a constitutional crisis? we will speak to philadelphia daily news columnist will bunch about trump's attempts to go what he calls "full dictator" and about trump's decision to

china is not possible because the u.s. exports to china is much smaller than china's exports to the u.s.. u.s. expert last year was about $130 billion in products. china exported $500 billion in products for the u.s. so dollar for dollar we are thinking about and arbitrarily very bad situation so if president trump once mentioned that china should reduce the trade surplus by $400 billion, that is probably a number that we will use as a reference of miss hypothetical analysis. >> just for the record i don't want to get into a back-and- forth with my friend ha jiming but the numbers he gave on inflation coming out of the trade war and the u.s. at least in my opinion would be passed exaggerations. just as the scale is different on that issue i think the idea that there would be significant inflation in the u.s. is not something i would rely on. >> thank you. >> my name is joe i am with root -- new roles for global finance. this is very enlightening. i did want to ask adam in your 10 points of summary there was a gap that i had hoped you would discuss at some point which is what about the unintende

china china china has promised has promised to impose tit for tat do impose tit for tat terrorists terrorists on us the u.s. goods and this is going to strongly affect the goods and this is going to strongly affect both the u.s. and china into the u.s. and china in terms of consumers and producers terms of consumers and producers and in fact we're already seeing sellers and in fact we're already seeing some of the blowback from that come of the blowback from that. when china has stopped purchasing on china has stopped purchasing soybeans friens from the young the u.s. u.s. i do just read the threats threats. trade trade war they and they canceled about canceled about sixty three sixty three thousand metric tons of soy thousand metric tons of soybeans by mid april ends by mid april and they're purchasing a lot more and they're purchasing a lot more from russia a lot more from russia a lot more from brazil and brazil and american farmers and michigan in iowa erick and farmers and michigan and iowa have already been hit really hard have already been hit really h

china. china. china. china. china. china. >> the u.s. will be keeping a close eye on china next week. chinese spies to be swarming singapore. they are expected to deploy their sophisticated repertoire of intelligence gathering technique. some of the tactics is u.s. is watching out for, paid eves droppers working among the wait staff in singapore restaurants. bugs or other electronic surveillance in the hotel where some of the participants are staying. china could even listen into mobile phones, including when they are turned off. china has apparently become very good at spying techniques. one american official working in china brought a hotel key card back to the u.s. where security found a microphone embedded inside. how is that possible? as a former assistant secretary of state told nbc news, all is fair in love, war, and espionage. our best advice for summit goers, if you see something, say nothing. we'll be right back with the other summit in the news today. is president trump trying to break the tension there? >> justin it's been really great. and i appreciate -- you know, justin

china china night male stories condemned in t the as xena to the lite so certain. of all thihings and sometims only god can can and that that probably deleted all. in all the labor he laws. the to an analyst with us doesn't accept that following historical record. summit we donald trump from kim jong. with china china. central role in future. talks. our our for kim jong is it is it the u. s.. with to send and in. it was it was first. interviewed leaders visited. with a solution. time. can jim jones was. were overwhelmingly look like after he had turned. to space by using such as a visitor to reserve their vein by lightly take technicians just i'm kind of a million issue has. decade case he's he likes next stage but in the bbc's on on all. right right along with a days has ten thousand victims of spanish vanishes emotional shouldn't. story. in the first tv interview. jackie long love life. in our in our treasury either. since. this is a multi million question visited by hundreds or thousands. of years here critics say a laura. this is a civil war. nine nine seven seven five five have. during the war and and on his regime. site was usual fashion. he dropped out of surgery political prisoners were forced for still belong monument featuring three levels of g.. and next a starring role right [inau

mark: china, china is not going to sit and watch all this. china is invested in north korea. china is invested in the nuclear program. they wouldn't even have a nuclear program but for china and despite the sanctions, china still cheats. we've seen the satellite pictures with the oil freighters on the high seas and so forth. what's china's deal here? what do they want to get out of this? >> our interests and china's interests are not aligned in this respect. china's making a play for dominance in the pacific. we see what they're doing in the south china sea. obviously we've seen what they're doing with intellectual property theft, cyberattacks. it's interesting, the media here is so concerned about the russia hacking of democrat party e-mail. china hacked millions of our personnel files for federal emplees iluding people involved with national security. that a massive cyberattack and yet it was a one-day story because it didn't fit the media's narrative. china is not somebody. they're a competitor at best and it's somebody that we're going to continue to deal with. trump insti

china is not possible because the u.s. exports to china is much smaller than china's exports to the u.s. u.s. xport last year was about 130 billion-dollar with china exports at $500 billion to the u.s. so dollar for dollar only to a limit. we are thinking about an arbitrarily bad situation. president trump once mentioned china should reduce surplus by $100 billion. that's probably a number that we use as a reference in this hypothetical numerical analysis. >> the trade war would have to go well beyond. >> of course. yes. >> just for the record, i don't want to get into a back-and-forth but the numbers he gave on inflation coming out of the trade war between the u.s. and china, for the u.s., at least in my opinion would be vast exaggerations. just as the scale is different on that issue, i think the idea there would be significant inflation in the u.s. from this is not something i would rely on. >> thank you. >> other questions? >> okay. >> my name is joe i am with new rules for global finance, a nonprofit organization in the u.s. thank you. this is very enlightening. i did want to ask adam, in

china. the sale of missile technology to pakistan and other places on the part of china as well as their human rights violations. at the time, china -- we had $5 billion trade deficit with china, annual, $5 billion trade deficit. i thought oh, my goodness, we can use our leverageo fr the prisoners of tiananmen square, to gain market access and to stop the proliferation of missile technologies where they shouldn't be going. i could win the votes on the floor. i could never override a presidential veto when we talk about china trade. you know the -- and people said, you have it all wrong. you should let peaceful lay it out and things will work out. that was almost 30 years ago. well, be 30 years next year, iananmen square. trade deficit $5 billion a year. you know what it is now? $5 billion a week or more. an enormous trade deficit with china. china has just decided they will -- for the ability to have ccess to thchina market, hey will -- we have to transfer our technology and the rest, so we have an important relationship with china. our two countries are great countries in the world. we have to communicate. we have to cooperate wi

china's power in the region and the impact on its neighbours. china's militarization of artificial features in the south china sea includes the deployment of anti—shipo air missiles, electronic jammers and more recently, the landing of bomber aircraft at woody island. despite china's claims to the contrary the placement of these weapons systems is tied directly to military use for the purposes of intimidation and coercion. china says it owns all of the south china sea, a lucrative and strategic shipping zone, even though six other countries lay claim to it. it's been building military installations in the area, and critics say beijing has silenced condemnation of its actions either by paying off its asian allies or by bullying them. tanslation: it's within china's sovereignty to deploy troops and weapons on islands and reefs in the south china sea, and it's allowed by international law. anyone who makes carping comments on this is trying to interfere in china's internal affairs. it's not worthy of refuting. the us and china are also battling over trade. an american delegation, led by the us commerce secretary, is in beijing this weekend to address w

that somehow we could be determinative in the future of china, what china which are not to look like, can't even accomplish that with regard to china. why would we think we could get with regard to china? we have influence china and we've influenced positively to the process of engagement. i look at an area i've worked on a long time, the environment, the u.s. embassy tweeting the air pollution statistics plays a fundamental role in ginning up chinese environment are activen the country. american ngos and european in just the way involved in china and in private were funding 90% of chinese society with regard to the environment, we played an enormous role in terms of capacity development in china. that's another element they seem to have forgotten. third, chinese history isn't over. xi jinping is in power now and he has put in place his own model and own approach to governance but the will be another chinese leader and it's not necessarily the case that the will not be political reform and opening up in china's future. >> someday write a book called the fourth revolution? >> i'll try to be more creative than that. >> okay. as you c

china and the u.s. are big trading partners so what are the risk. of this move or potential move by donald trump and comes to tariffs. the past year the u.s. imported goods from china in the amount of five hundred billion dollars and china imported u.s. goods in the amount of one hundred thirty billion dollars so if you look at those numbers the possibilities of china at first glance seem to be limited if you look at tariffs but having that said china did mention that they also could take quality of steps or not just quantitative steps what they mean is that is that for example they could start a boy called for u.s. products that could disrupt the supply chains for example for the high tech industries and that could turn out to have unintended consequences for u.s. corporations and also for the u.s. economy talking about the consequences to dell plummeted for the sixth consecutive day already what are the sentiments on the ground what are you hearing. there so far representatives from the ministration call it a trade dispute would not trade war and there's still hope on wall street that all those wearable threats are actually part of the negotiation strategy and that at the end we will not see those terrorists being imp

china. 232 has nothing to do with china. that's absolutely not true. it has nothing to do with china. china is being punished by 201 and 301 and we're punishing our allies by abusing a national security section called 232. so i don't know what to say. let me just -- let me fin shall one -- finish one who are thing before i yield, and i'll glad i will yield. people in our nation are being hurt today. people are being hurt. you saw the harley davidson issue. they are going to move some of the jobs overseas to avoid these tariffs. other companies are going to be doing the same. right now farmers are being hurt around our country. on july 1, a whole other sit of -- set of counter megses are coming in -- measures. on july sicks there will be another set of counter measures coming in. i want to be clear that the senator from ohio, my friend, won't allow us to vote. if he disagrees with this policy, he can vote against it. he's not even allowing us to vote on something that could ease and stop the pain that's being inflicked our -- inflicted on our country by a trade policy that is not cohere

along militarily it's his first visit to china ever and first the secretary of defense so it's an important time to china seems deaf to us objections of china's militarization of the south china sea what progress if any can matus make with china here. it's unlikely to make any china's got seven artificial islands three with runways that are three kilometer long with aircraft hangars they haven't put the jets in there but the issues that were mentioned were the surface to air missiles anti-ship cruise missiles electronic jet jammers and more provocatively the touch and go exercises of a chinese nuclear bomb are off woody islands in the parasol to the north that's being countered by u.s. b. fifty two flights of diego garcia in guam over the south china sea is stepped up for navigation patrol seven under trial double the number under obama plus presence patrols and three american aircraft carriers combat battle groups since february march exercising in the area although one is retiring so they'll be two so both sides are doing near imaging all across the board of flexing their military muscles and creating tensions and i think secretary mabus wa

china. the second is to guide china's own currency. if the u.s. reduces china's -- rts, china could try to use its large agenciesand also some as it's full of influence. people often cited that one, but it basically contradicts number two. >> pushback a tiny bit. china could shift from longer notes, three-year, five-year bonds to shore dated treasuries. that would have no currency would have an the effect on the shape of the yield curve. the said could respond by or by -- andpolicy broad terms, that has the same offsetting chinese sales. >> we are starting to see signs chinese growth is weakening. that further limits some of those that you were talking about. don't think it affects is going to put pressure on starbucks. it could actually constrained china's ability to respond with tariffs since many of the , essentially all of chinese-u.s. trade would have an impact. >> how much latitude today have here to weaken the currency without creating concern from investors? >> i think there is too interesting points to make. china couldnaling -- it could give china the a

not on an airliner from his own country but one from china air china seven four seven that in itself is significant because it demonstrates that china still has influence over the north korean leader and of course china canal just least we have played a significant role in ensuring that this summit takes place here in singapore now after you arrived kim jong un was greeted by singapore's foreign minister and then his twenty vehicle motorcade made its way from the airport into the city center to the st regis hotel which will be his base during his few days here in singapore and i think it's fair to say that. the the singaporean people who lined the streets to watch that motorcade have really never seen anything quite like this before kim jong un of course has only ever made two international flights since becoming leader of north korea the previous occasion was when he flew to the northeastern city of darlie and in may to meet president xi jinping and now of course he's arrived here in singapore and of course this is only the third country that he's visited since becoming north korean leader the other countries being china and of cou

china this time around. david: how much you refer to china and how much is represented by argentina and turkey, is china reallyving em at this point? steven: on the equity point, it is much more in the driver seat. with the technology companies in china, maybe we are looking at two hemispheres of the world where the u.s. technology dominates the west and it faces regulatory issues and growth restraints, these things, and china is dominated the east and can probably expand beyond the borders of china there. technology companies driving emerging markets, that is not what it is supposed to be about, it is supposed to be iron ore. things like this. it is not a commodities story anymore, it is about actual development, it is about innovation, that is driving a good part of the china market. now, this will be related to the chinese tariffs, you will see the market take a step back because of that, but who is going to pay for this, it could be the consumers. alix: but the imf warned on market risk, not because of the fed, but because of stimulus. they said that shift in physical u.s. policy could precipitate a market

china? lot of peoplee a in china don't understand china. t is going on in southern china. might in southern china not understand western china. it's not just the geography. someone said to me china lives in three for centuries. to whetherdebated as it is in the 18th century yet. d: thank you for joining us, hugh peyman. a quick word. a smart phone company that makes telling -- telecommunications it needs a stock exchange approval for an ipo. it is looking at the evaluation of $100 billion -- an evaulation of $100 billion. ando, you can watch us live interviews we carried out. conversationf the during our programming. this is for bloomberg subscribers only. tv . ♪ it is time for the battle of the charts. these charts can be accessed on the bloomberg at the bottom of your screen. you can play along. david: next week is a big week for korea. risk premium has been built into the market. have a look at my chart for the day. asia --pest index in not because of that building premium,- built-in also because recently, earnings have not been revis

china. china makes a lot of machine engines, mechanical good we will be hurt. you can't just built a heavy machinery plant overnight and electronics made in china -- the dollar tree, trinkets are going to have to go up in price. how much more can the dollar store squeeze out of their consumers, i don't know, but i am no tt waiting around to find out. another prc win will be a day late and a dollar short. honestly, it is not clear how much is imported and how much is made in china. we know starbucks which cut same store guidances easily we know that fed ex-planes could be idled on the tarmac, the razor market, the shampoo market, can be hit we know machinery could see their sales loss to others even though i like them. honeywell, 3m and emerson, they have substantial business in china. and all of those stocks have been hurt though continue to get hurt for a little whaile as the trade war continues. but you need to know the truth as i have been telling you for ages judging by the queue for boeing planes. put it all together and i think the same goes for the u.s. economy, china needs us. more than we need them i am going to repeat that because nobody believes that i

china, you will find a lot more china teslas. vcgiven the amount of funding and r&d spending, and the tenants china has, does china and of overtakingion? and in what time frame? jenny: i feel that china, if they haven't caught up, they are catching up very fast, because of exactly what you said. the local support, the policies to attract more talent back here, the largest market up here as well, it means that there was no more room for innovation and sustainable growth. more room for more unicorns to grow, even if it is just from china itself. chinese entrepreneurs are very driven, they are extremely driven. that level of drive is something that i think will allow china to sustain that type of advantage. when you have a huge population trying to make changes and do better, they are willing to put in the hard work, less chance of them surpassing the rest of the world is very high, very high. capital'sat was ggv jenny lee speaking to tom mackenzie in shanghai. still not forget our interactive tv function, tv go. you can look over past interviews like the one we just did with jenny lee. this is for bloomberg subscribers only, make sur

the south china sea stands in stark contrast to the openness of our strategy, what our strategy promotes. it calls into question china's broader goals. china's militarisation of artificial features in the south china sea include the deployment of any ship missiles, surface—to—air missiles, electronic jammers and, more recently, the landing of bomber aircraft at woody island. despite china's claims to the contrary, the placement of these weapons systems is tied directly to military use for the purposes of intimidation and coercion. the new prime minister of spain, pedro sanchez, has officially been sworn into office today by king felipe in madrid. the ceremony comes less than 2a hours after forcing out his predecessor,

china, the invisible hand. it is in china's interests that these talks workout, yet china would not want very cozy relationship een the u.s. and north korea. >> i think ultimately the chinese do want the north koreans to give up their nuclear weapons. the relations between north korea and china were strained up until late last year, up until the two meetings recently with xi jinping and kim jong-un. many chinese security experts worry that if the relationship had gotten worse, north korea could target some of those missiles to china. they want us korea to give up their nuclear weapons, but they worry about the geopolitical alignment in the region and worry that any improve relationship between the united states and north korea might come at a cost for china, might represent a loss of strategic influence for china. so they are watching very closely the geopolitical dynamics of the diplomacy that is taking place. 101, knowingation the prie at which level your counterpart walks away. to what extent can donald trump keep pushing the north koreans? what is the line in the sand you think he should not cross t auses t

china. it is going well. we believe in free trade. we make orders for materials, but we matthew factor most of our products in china for china. is going to be 30% of the world's gdp in the next ten years in terms of growth. it is the critical for us. but i have found a worryjust it is the critical for us. but i have found a worry just a it is the critical for us. but i have found a worryjust a really help. so we talked to both sides. we make our position clear. we make orders even with things going on around. at the end of the day, we have to work on the environment in which we are sustained. it is a digitisation and data, how are you utilising these now and your business? as you well know, china has gone completely mobile. i think in terms of cashless payments, it is something like 50 times ahead of the us. so it really is the epicentre of mobile digital. so we have a digital innovation centre in china. we are partnering with people like alibaba. we are using their data to help us tailor products. wejust we are using their data to help us tailor products. we just launched a spicy snickers as in the data that they gave us and

china and china sends to us. if you're looking at tit for tat, it looks good. china can slow down u.s. products coming into the country. there are complex supply chains that go through china. they can slow those things down and make those chains more costly. they can excerpt political leverage on things like north korea. the u.s. needs china to play ball to did he nuclear ice north korea. >> do you think it's a coincidence that kim jong-un is in china? >> i don't. what will be interesting is how they enforce their supply chains. manufacturing jobs are still up. the other thing is there's never a good time for a trade war. this is as good a time as any? >> why? >> because growth has been good. lots of things are in the air. timing is everything. it will be interesting to see if we can go to the midterms without a major problem. >> a war of words is not a trade war. >> that's right. you have to look at what's been implemented. that said you can see the markets reacting. the markets are jittery. they don't like the uncertainty. >> do you think this goes beyond threats? >> yes. china and th

north korea's had more relations in recent years with china although the real relationship has been far from perfect how will china see this i think china would clearly be the most concerned stakeholder right now amongst the three countries we're talking about south korea japan and china and for china really what's going to be a red flag for them will be point number one establishment of new u.s. relations on this really might possibly be a red line for the chinese now what's going to happen we can expect. over the next few days is for beijing and john young to have conversations to clarify what this means it has to be clearly for beijing president xi jinping this will have to be if at all done in a manner that's going to be acceptable to the chinese and i can't quite see how that's going to play out right now in a way that's favorable to china because this smacks of alliance possibly or partnership that for them naturally would just fit into this hypothesis of a growing containment strategy against china that all the ducks are basically lined up again against china south korea japan and now north korea so this is clearly going to be a

china. it i usually same thing they played yet to make it make it for the morning game how howw that is that the o othr other r -- france how we know god. for china. also because you do he was he was murdered. saying that the you know what what we and she's to cynicism and about if it and then you people are. still war five my making making the link layer we mean that socialism benefits for the war. we'v've got going one turned year year.. really late in the that is a you know musings anyway. was the play three bring them and then somebody [inaudible] you know. he is hehe is [inaudible] being a we we have -- which initially this is defined by its india's units it was like that. the prime minister there anything video. of the that the theme with which h to do so internatioionally you'll bee okay [inaudible] i'm beginning . do you think. overall it is -- no no thanks. social [inaudible] news at do you see. as you like but i mean. in business. the country. had had. already worked on god is that right -- kitchen mode lately was easy you in your gut that they get again right referees were. found in the modality and a new in north delhi. thank you very

if he wants to pressure china on trade, he should be working with china and instead of working with china going at war with china. it is the tough talk that plays to his base. it's not working. foreign governments aren't backing down when they're humiliated publicly by donald tru. >> he was expecting to speak to kim jong-un over the weekend. that phone call, apparently, never happened. he staked a whole lot on this new relationship he has with the north korean leader here and it's unclear whether it's paying the dividends. >> "the economist" magazine had its cover saying kim jong won and there's no question that the leader of north korea has hit his stride at the moment. he is being offered some economic assistance by the chinese, he's going to be meeting with vladimir putin in russia. and he's had his summit meeting with the american president. all of this after being a bad actor by developing his nuclear arsenal further. so, he's put himself in a position where he has achieved a certain status and may get a new economic path forward and, has pledged only in a very vague way to denuclear

china's pledge to retaliate up to the united states imposed an initial set of tariffs on fifty billion dollars worth of chinese goods. but if you needed further proof that china is no longer adopting a conciliatory tone in response to donald trump take a listen to this. one more you drop there in china does not want to fight a trade war but it's not scared of one. you will continue to take effective steps to resolutely defend the country's interests of the people and to defend globalization and the multilateral trading regime. that defiance stance has also been reflected in the attitudes of some residents in hong kong. i don't think can win this trade war china's china has a really big economy they have other people who they trade with although u.s. might be one of the. largest countries that they do trade with and most of their exports may go there but. the u.s. is also going to suffer from this maybe just as much or even more than china is suffering on both sides that is appears to be the most likely outcome as the battle over tyrants threatens to explode into a full blown trade war. and fears about the effects tariff spats are weighing on the german economy economy as well the new research group has downgraded its growth. as for this year from two point six to one point eight per

china on that. i think this administration has identified some serious problems with china. china has a form of state capitalism, and is deploying industrial policies that are usually problematic for u.s. industry. not just when american companies are trying to sell into the china market, but when chinese enterprises, companies that have gotten advantages from the chinese government and have been turned into national champions, when they come out into the world economy there is a thumb on the scale. the administration deserves credit for identifying those problems. in fact, we have worked closely with the administration to try to identify the biggest problems there. where we are today is that there is -- what is lacking is the consensus on what to do about it. entering into a tariff war with china would be highly problematic for the u.s. that a finalrd is list of products that will be subjected to these steep tariffs will be issued. china is certain to retaliate. when you are talking about $50 billion on our side and there's, that is a lot of american soybeans, american jet planes

have changed the way they operated precisely because china went to them and china didn't own a cent of the company. they were doing business in china. so once you're doing business in china, you're going to be vulnerable. they can do all kinds of stuff. they can just change the environmental regulations on youchlt guess what? you start spending all kinds of money that you weren't spending a month ago. there's clearly that. i think that to some extent goes to a point i made earlier. it also goes to your point. this bill covers, closes a lot of loopholes. it's not going to close every loophole. it just won't. there will be cases -- i think at that point it behooves the government experts, guys like you to figure out, okay, this is what they're trying to do. now how do i stop it? there are ways of stopping it. >> i was going to say, i think it's a broader issue outside the context and capabilities of cfius. but it does go to sort of one of my earlier points on state-driven control and soes and the role of that. that's why i think the principle of limited government and exercising that within cfius, in free trade agreements, making tha

because he's been such a voke v voice on china, china, chinathe mueller probe and the support of the investigation. let's play it. >> i was the guy that said don't fire comey, this is petering out. it's the c block on anderson cooper, nobody's interested anymore, it will be done in 90 days and they'll be done it. >> lots of people watch the c block of anderson -- >> when anderson's got something, it's on the a block. i've been a big proponent of m mueller, i've always said he's a combat marine, great individual. that ought to play out as it's going to play out. where i have a problem and a huge problem, i was a guy that said publicly that ty cobb should be fired. he gave the president i thought terrible advice and i think lied to the president consistently about what the nature of this investigation was and the timing of it and giving overall -- unlike precedent set with every other precedent, we willing will went and gave over a million pages of documents, allowed the white house counsel, the chief strategist -- >> to do -- >> to expedite this

china. that's what i'm worried about. >>> for more how this is playing in china we go to eunice yoon in china. >> reporter: china has described trump's tariffs as blackmailing. the commerce ministry today said that china would fight back firmly and is considering qualitative as well as quantitative measures. now those words have caught the attention of the american business community here because the fact of the matter is, that china cannot match the u.s. when it comes to tariffs covering $200 billion worth of goods. and that's because china only buys $130 billion worth of goods. and that's been raising a lot of questions among business people here as to what china can do next to retaliate. a lot of them feel vulnerable. some of the business people i've been speaking to today say they worry about investigations or safety inspections, delayed license approvals to block their expansion, they're worried about what you were talking about. encouragement of consumer boycotts now despite the tough talk, there are chinese who are concerned about the impact of u.s. tariffs on the chinese economy. and

china, apparently. they banned their own policy. china, made in china 2025, this is extraordinary. this is a policy which came out with great fanfare. it's referenced repeatedly in different government documents as you can find and now there are reports out in the press that chinese themselves are suppressing that as a way of not letting you know that the intent of that report is to put forward a set of plans that would capture 70% of the production of the emerging industries of the future within seven years. extraordinary. as president trump has said, if we lose the industries of the future, we won't have a future. so some of you at least have the chart as a handout, and it will be up on the web available to you, but let me just now walk through what the chart looks like. it's a standard matrix where you have these six categories of economic aggression. this is the industrial policy of china. what distinguishes china from the rest of the world, most of the rest of the world, is that it's a nonmarket economy. it's a heavily state-driven economy. so in the second column here, one goa

china's pledge to tell you the united states imposed an initial set of tariffs on fifty billion dollars worth of chinese goods. we found out more than year china does not want to fight a trade war but it is not afraid of one for you and you have come we will continue to take effective steps to resolutely defend the country's interests mourn and the people's interests very viewpoint resolutely defend globalization and the multilateral trading regime. that defined stance has also been reflected in the attitudes of some residents in hong kong i don't think can win this trade war china china has a really big economy they have other people of a trade with all the u.s. might be one of the. largest countries that they do trade with and most of their exports may go there but. that us is also going to suffer from this maybe just as much or even more than china is. suffering on both sides that appears to be the most likely outcome as the battle over tariffs threatens to explode into a full blown trade war. not long ago the u.s. was its biggest champion but now it's europe washington to open its markets to free trade e.u. representatives like cecilia monster i'm a rallying against u.s. protectionism. well good morning it could do so yet but it could escalate to two to two for a trade war which would be bad for the whole world because we are so new zealanders and european union we are so interlinked in the global economy it's also in the chinese and in the u.s. with the global value chains so it would affect us as well it would affect our companies it would affect our consu

need to focus on what's happening in china ok well tell us about that about the growth in china but china is also a big trader in these markets right correct correct china's about china's footprint in in a range of commodities in a range of minerals as huge they you know rough number they represent about half of global consumption in a wide range of different industrial minerals including copper ok and so they represent happy that's all the growth going on in china they represent half a half of what it used and then what about their their positions in markets so with copper is traded a few places around the world of comics in new york vitals exchange london the mail me and then china and are they in all of those markets are they just in shanghai. the industrial metals are or not the child yes all of them all of them and when i know you can't see in my old job we would see what companies were at what positions but do you believe the chinese companies are significant players the needs markets to the extent that if they all decided to do something they might be able to push prices around a l

china with fresh tariffs. yuka: the u.s. president has the chinese goods with a 20 percent import duty. china's foreign ministry warns that they will take immediate action. beijing will retaliate in kind. will retaliate in kind. reporter: china's -- >> china's position is consistent. if the u.s. takes protectionist measures that harm china's interests, we will immediately respond and take necessary measures to defend our legitimate rights and interests. yuyuka: as trade tensions rise, china's tech giant -- the second-largest worker only -- only became public this week. have fallen twin percents. this is weighing on investor sentiment. european stocks are mixed with off 1.8%, frse although they still appear to be headed for weekly gains. the shipyard has a boost afterer a megega ferry. ships belonging to the company will be built at the same time, which will keep the shipyards busy. the move was toasted as france's biggest shipyard,stx, received orders to build three new ships for an a recordruise liner, deal.. they will be operating at full speed for the next five years. after years of slowed down activity, saying this is good news is an understatement. >> it's very good news to see the stx order books from so far ahead. >> it

companies like starbucks and apple, two years ago, no trade wars going on, all you hear about is china, china, china consumer product conferences, everyone was a china play, every company a china play now it's under the rug and it's a.i. plays including starbucks longer term, it plays out and works, and i'm excited for right now, there's a lot of fog, of course >> lamar, when you said, you know, focussed on small caps and small caps rallied today, they are not the ones necessarily who are out there the last couple years saying this is our china, you know, china is basically bailing out the growth strategy, right? >> that's exactly right. the bulk of our portfolio is focused on the u.s while they have -- some lagged over the last couple years because they were not able to get out there and start, you know, going raw, raw, all about china, right now, they are looking to be positioned well in the event there is, you know, some further escalation. >> and, lamar, in the u.s., the only thing i wonder because you know small caps better than anybody, everybody trades them, look, they don't have the internat

china. china has been the emerging markets story over the last 20 years, but they reached a point where things have to change. have grown so much in chinahey can no longer be the low cost producer. creating opportunity for manufacturing to go out of china and into emerging markets, giving them a chance to get on the middle class escalator. we have been talking about this kind of secret night -- synchronized global growth. we have this chart highlight what we have seen. i-4, the snp i've hundred -- s&p 500 with europe amerging markets, but in the last month or two, we have seen a bit of a divergence where it is breaking above the rest of the world. we are not seeing u.s. markets react to trade war fears aggressively. isn't the u.s. still the safest bet here? >> at might be in the short term. to me, two months of data is not enough. use a three to five-year time horizon when eileen out my thoughts in terms of where to put money, and where to invest. if i look across the world, the cheapest place is emerging markets and the most expensive is the u.s. domestic market. there are some changes within the macro economies. we have seen slowing o