china tech. the white line is -- the blue line here is china tech.hece happening middle part of june or so. do you think this now is an opportunity to get in or how long do you think this divergence mike continue? >> can you repeat the diverge sentence >> where china tech is going vs. u.s. tech. >> what is your schnur is it a list of markets? ramy: that's right. the invesco. trust vs. invesco. china tech e.t.. if. >> i see. well, we don't really look amount the listed markets as much. we're more looking at the unlisted markets and looking forward and i think china tech is going to be much higher than it is currently and the growth of it's it will be much faster than anyone else in the world. haidi: we were talking about privacy. with all the head winds facing a company like face pook, there's lots of exis stencil head scratching on the use of data. do you think that's going to confound the chinese market at some point? >> right now as you said, artificial intelligence is very dependent on data. the richness of data is incredible because they have 750

and alibaba, had serious applications for new companies in the tech space in china. tech reporter joins us. you went through two dozen -- companies backed by tencent and alibaba over the last two years. what are the stories that you have found? >> your earlier point in how all these other chinese tech company stocks are down, even though they have nothing to do with gaming. and part of that reason is because a lot of these newly ipo chinese companies have a big tie to tencent and alibaba and particularly on tencent. it goes to show what kind of power that, these companies wield over the zone companies. wrongd: what could go for these tech startups, being invested in by the likes of tencent or alibaba is usually important. >> so, what we found in all of these ipo perspectives is really interesting. it was this very cautionary language. and t thish factor saying, just soe you know, it might not be super the way things work in china, china's tech ecosystem, are the future of our company highly depends on the future of what happens with tencent oe alibab. rishaad: at the

despite lagging behind the developed world, china's hi-tech industries are pushing forward from made in china to made by china, for china, trorade war not, 2025 will be here before we know it. for katrina yu, in shenzhen, china. >> woodruff: this week has marked the longest period of uninterrupted gains on the stock market in u. history. there are a variety of reasons, including a steady economic recovery that is nine years old. but one of the drivers for the stock market rise has been the increase of what's known as stock buybacks, or companies purchasing their own shares. the benefits of that for the larger economy is very much in question. our economics correspondent, paul solman, explains, part ofwe hily series, making sense." >> corporations are literally going wild over this. "> reporter: when president trump signed the "x cuts and jobs act" last december, a key provision s cutting the corporate tax rate from 35% to 21%. republicans argued the savings would be used to create more,g, and better payobs. >> this gets us better wages, bigger paychecks, a simpler taxy em. >> reporter

troubled ministration accuses the chinese of unfair trade practices they're also keen to slow china's tech expansion the made in china twenty twenty five plan is designed to catapult the globe's manufacturing center into its technology up. the world's work bench no more instead chinese internet giants like search engine by do tech investor ten cent an online retailer only babar are now leading global innovators they've risen from startups to multi-billion dollar conglomerates with considerable state backing other countries accuse china of unfair subsidies cheap loans restrictions on foreign competitors and copying copyrighted technologies they say it's no holds barred as china zeroes in on becoming the world's leading industrial economy successes of the state guided economy or impressive gross domestic product has expanded at a breathtaking rate and rapidly closing in on the u.s. . they've made in china twenty twenty five program is intended to transform the huge country into a global economic power. ten key industries including aviation railways and electric autos are to get privileged a

the white line is the qqq trust tech, china is u.s. tech in the blue. are you saying that in the future, you want to rotate out of this into something more defensive? nt: when i see this, one of these lines is incorrect. we don't yet know which one are in all honesty, anyone who tells you that they do is guessing. we don't know which one is correct but when i see such a diversion's as i am seeing right here, it tells me to take a step back. there is nothing to say i cannot go back in, but when i see the gence inns -- diver copper, that is an indicator of growth. when i see this, it says i need to take a step back in the think that is what our viewers need to do as well. uint, we talk about how you poke holes in the equity rally which we have seen is outperforming the rest of the world. his tech going to be what drives the market lower? quint: tech will drive the market higher and lower because it is a major component of the overall market. where tech goes, the market will go. specifically just a few names. ng stocks, apple or amazon, whichever represent

and china's tech earnings. what that means for the social media giant ahead of its second quarter results. first, our top story. elon musk is elaborating on what sparked his move to take tesla private. the electric car maker c.e.o. said the key to the gambit was the interest shown by saudi arabia's sovereign wealth fund. musk says the saudis approached him almost two years ago about taking tesla off the market. the fund recently bought an almost 5% stake. for more i want to bring in oppenheimer senior analyst, collin rush. also with us in new york is max. max, i want to start off with you. elon says he's continuing these talks with the saudi fund, that he's also talking to other large shareholders. do we have any idea who the large shareholders are and how far along these talks are? >> no. we have no idea about anything. i think there's sort of even with the information that came out this morning from elon musk's blog post, you know, there's sort of a wide range of possibilities that could have happened. we kno

on deck, more on china's tech tumble stocks overseas feeling the heat, but could there be an upside >ook now, we're 130 days away from christmas roll out the music one grocery chain is rolling out a new gift that will get shoppers feeling jolly and buzzed we'll be the first ones to talk rimas coming up next ow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. i was on the fence about changing from a manual to an electric toothbrush. but my hygienist said going electric could lead to way cleaner teeth. she said, get the one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's gentle rounded brush head removes more plaque along the gum line. for cleaner teeth and health

we continue on china's tech sector just ahead.der results before the market opens in some analysts see trade uncertainty. more on the impact. next. -- more of the impact, up next. this is bloomberg. ♪ ramy: welcome back, this is "bloomberg daybreak: asia." i am ramy inocencio new york. yvonne: and i am yvonne mann in new york. the company -- alibaba reports the free market in new york on thursday with earnings. we are expecting big boosts in the stock. this is the u.s. equity esu rp option. what the market is signaling right now is it implies one-day move could be around 6.6% in either direction. certainly investors will be honing in on what comes out of these earnings. speaking on asia tech, we have a preview right now on what we can expect. >> when it comes to revenue sentiment it is good for alibaba. analysts are expecting a. safety 1% growth for the company. . that is the fastest growth since 2014. -- analysts are expecting a 60% growth for the company. that is the fastest growth since 2014. analysts are expecting a drop of 46

tech. >> china related tech actually trading at good regulation compared to the u.s.. good riskyou very feel isor >> what you the biggest to that outlook? >> i think the real impact is isarged, but the impact trying to stabilize the currency . them doing more to try to stabilize and we hope currency risk will be somewhat removed. the underlying is still very good. >> going to happen to the bloomberg terminal. you can see the dollar is giving iss and negative correlation at its worst. looking ahead to possible trade talks, how hopeful are you for a breakthrough in terms of where this might take the current the? >> hopefully, we ease the currency market or stabilization of the currency. it will put a lot of pressure in terms of debt. need to see that, otherwise we see efforts setting up to try and normalize the currencies. >> in terms of what might be out thee and looking at , it has of the currency been strengthening somewhat, but looking ahead, where you think this is going to be? will come back because if you look at the hope -- value, we should there be any talk or e

tech world. how do you see china's influence in the tech sector? >> we know that china leapfrogged over 50 years of development that most people have to go through by technological theft. we have 350,000 chinese nationals in the united states. we just arrested jimmy lee who is a cia operative, we know what they do. >> steve: what did he do? >> he was an ex- cia operative based in beijing and arrested two months ago. we learned the reason that 20 or so of our key assets in china were either executed or imprisoned because he gave the names of them to the beijing government. he was a u.s. citizen with the chinese background. we know it china's doing and what google does. why are these companies abusing rights, human rights and free speech or facebook blocking ads. the core of the problem is that in a brilliant fashion they threaded the needle between left and right. they said that you are open-market people. you don't believe in antitrust legislation. but us get bigger and will make more money and adjudicate. then they turn to the left and said, we are

ramy: the future of china -- china tech.technology at frost & sullivan. in a moment, a sporting chance or a cyber sellout. argumentsok at the for and against e-sports at the asian games. this is bloomberg. ♪ yvonne: asia top athletes are in jakarta for the biggest sporting event that it is not just running, jumping and swimming. in the spotlight at the asian games. let's bring in our asia tech reporter. been onhe rage has e-sports at the event for the first time. a lot of debate raging about giving out -- giving out gold medals for gaming. can we really call e-sports a sport? videogames are fundamentally different for athletics. that are a lot of people questioned the lack of physical activity in video games. whether that qualifies it to have gold medals. traditionally gold medals, olympics at the asian games, it was all about top athletic performance in top physical performance. being the best of the best in the world physically. games are different from that. it is more of a mental sport. there is a much bigger issue here

you can see the ripple effect it is having among other china tech avr's. on top of a tough year for in general and tech and internet stocks in particular. the semiconductor index at its lowest since july 3. macron's price target being cut at morgan stanley, downside risk to the earnings. lower, andd trading lam research as well. finally, circling back around to the commodities and wti, over the two days, it was up yesterday and straight down today, taking the today loss to about 4%, the third straight loss in six days for oil. when we talk about this big commodities selloff, it is metals, oil, it is pretty broad. mark: turkey's financial crisis is causing ripple effects in wider markets, especially emerging markets. greer.ring in paul great to see you. you are underweight turkish debt. what persuades you to change that stance? paul: so far we have been pretty underwhelmed by the response from the turkish authorities to this crisis. we want to see the turks restored confidence of investors , the need to adopt some pragmatic policy responses to what is going

china's tech scene was widely different than when google pulled out in 2010.here is little evidence that western alternatives would want -- be wanted. why does this matter? moore's writing on the twist and turns of google whether they are putting profit over principle. bigger story of what happens in the world with two distinct internets. much more reality is driven by what we consume online. distinct and news, images, and information on the web can influence the way we vote, think, and act. the big question is, in china and u.s. are living in separate cyber worlds, how can we expect the countries to cooperate in the world world -- in the real world? emily: joining me now to discuss is adam, the director of the digital and cyberspace program on cyber relations. and in that studio --, and, in and, in the studio we have selina wang. most people in united states will know what we chat is or what alibaba does. talk to us about what the real differences are in china and whether or not people there actually care whether they do not have freedom of access of informat

know it's caught in the crosswinds of the trade war between china and the u.s., and also because of the restrictive environment for the techhina with restrictive licensing. the government cracking down on some things as far as social media is concerned instant messaging. one company that got hit hard is tencent. what is your thinking of the broader tech sector in general in china and the opportunity >> within china generally speaking in the tech sector, if you're export heavy focused business there are significant concerns in fact the future tariff that may come next will have a meaningful impact on the semiconductor industry if they come to pass that will be a concern for domestic focused companies and companies that have strong digital presence, and are in very strong platforms, it is significant. we have to also bear in mind there was a big government reshuffle in china in the end of the first quarter. if you have any political positioning in any country that creates a pause in activity and bottlenecks. it was clear to us from where we saw tencent deliver results and also from their conference call that the changes to t

insight, believe it or not, this is the cutting edge of china's push the high—tech supremacy. s here for cctv cameras. it is a small part ofa for cctv cameras. it is a small part of a much bigger government backed effort called made in china 2025. addressing the country's top scientists earlier this year, the chinese leader spoke about self—determination. he wants china to make its own civil aircraft, dominate in industrial robots and electric vehicles. at the camera chip firm they have high hopes that they think 2025, for their sector, is ambitious. high hopes that they think 2025, for theirsector, is ambitious. china is coming. i believe china is coming. but it takes time. this ip demise is the push that technological advancement, particularly in sectors where it thinks it can take the lead, maybe dominate. firm was set up lead, maybe dominate. firm was set up with the help of government money. it's biggest client is the government that it exists in the rest of the world have nothing to fear. that however it insists the rest of the world has nothing to fear. made in china 202

china. energy up, tech, utilities, they are driving higher. we have good numbers from the financial area. ers looking strong. seems as though earnings are supporting this and china supporting it. we are up on friday. in the week we are down .6%. it wasn't all guns blazing from the weekly perspective. look att when you assets. looking at italian debt. we saw european markets in terms of bond markets perform well today. we saw yield ball but not italy, driving up 3%. it went in excess at one point in the days trading. concerns about how they managed to dual out the battle of the budget. they think they cannot get a compromise between the high spending the populist parties want and the finance minister clearly wanting to ensure he can keep to the e.u. rules and keep the deficit within a few percentage points of gdp. they seem to be promising it but geopolitical risk pushing yields higher. but look at other asset classes. mark carney did it again, talking about brexit and his worries. we saw the pound a little higher on the back of the 90 -- 9-0 vote for a rate hike. words of warning from the

how is this trade war impacting china's tech sector now and where is it going?it does seem to be taking its toll. certainly if you look at etf's, the grain shares, china internet fund is one example. we've seen outflows of .1 million u.s. dollars. that is an indication those companies are under pressure as a result of those trade worse. they are quite mystically focused. alibaba focused on e-commerce is a bigger part of the pie for them here it is less surprising. it is starting to pressure these tech firms now as well. the biggest blue-chip in opportunity. her speaking to a hedge fund manager in shanghai who says financial in china could benefit as policymakers shift to more support and more easing and monetary's stimulus. -- monetary stimulus. haidi: opportunity still a bounce but you have to have a strong stomach in this environment. tom mackenzie here in beijing and out of washington, greg sullivan there. taking a look at what is coming up, kathleen? kathleen: the imf calling india's $2.6 trillion economy and elephant that is starting to run. we will get on

correspondent yes bellinger in beijing if the trade tensions for the united states could hamper china's global high tech ambitions this is what he had to say. don drum has shown china his muscles for example when he v.t. one of china's major tech companies from accessing american technology this has halted city's production and brought the company near bankruptcy. back down in the end but what's maybe more important is that a lot of countries are now looking into china strategy and taking countermeasures for example germany is now looking into a crude tech companies by chinese buy so the environment is getting more and more hostile to these ambitious plans of china. their housing prices are rapidly rising in many cities across the world so much so that people with lower incomes are often struggling to and to their luck a new zealand is now battling for nonresident investors from buy existing homes in the country the government is hoping this will stop property prices from rising they have almost doubled in the capital planned over the past decade nationwide they've searched by sixty percent but actual b

say about tech more broadly in china? libaba is a huge company still growing fast despite the earnings miss. is a reassuring sign for investors. we are now up more than 3%. we had tencent miss on its earnings. tech complexinese get hit five that. this is a reassurance that $.10 troubles don't go farther than that. the earnings show the investments in video streaming, food delivery, cloud computing is paying off. still 93% year on year growth and cloud computing. , 24 milliongrowth active annual customers. million mobile users, 634 million there. the size is incredible. their,tech here versus if you look at the valuations. we have a chart of this on the bloomberg. ,ecause of the selloff in china we have seen tech get cheaper there. >> investors agree with you there is an element of they want to take advantage of. it says something about the chinese economy. alibaba is growing leaps and bounds. it is also reassuring from a macro standpoint. david: not necessarily for the united states. they would like it to slow down. thank

the tech earnings season out of china has been disappointing best far. n a different business, but it could be a concern for investors. asialibaba rescue the an tech reporting. freddie, you like tech stocks in the past. many look and feel similar to the tech stocks we find in china. the valuation gap is amazing. freddie: they do, and you can match them up. there is a large difference. one does not have to think in a relative sense. we continue to invest in the u.s. names over the chinese names, not through any huge worry about chinese games, but the valuation has been threatening, the growth rates have been higher. there is more room for error. even within technology, there is a huge difference between internet names versus hardware names. we are broad in our interest. the main name we have now is google alphabet. we do continue to like the tech sector. from a developed market, internet perspective, we are likely to go through a multiyear regulation cycle. there will be more pressure on google, more pressure on facebook around privacy. guy: who is most at

china's tech troubles, numbers do this morning. heavyweight hourly bob are due tomorrow. turn the tide for emerging-market stocks? good morning, i'm matt miller in berlin. guy? much reaction to what has happened politically in the united states in europe this morning. down by 1/10 of 1%. down -- down by .1%. maybe that strong u.s. economy just trumps everything else. let's talk about strong stocks. gs three north trading higher. tracking higher and had a very solid day yesterday. trading higher. nordic trading down by 4.9% this morning. some downgrades out there. kaz is trading down. easy jets, i can't find anything on why easyjet is trading lower this morning. marine harvest downgrading its outlook and that's why that stock in the salmon space is trading down. it's get a first world news update. -- first word news update. juliette: donald's longtime lawyer and fixer michael cohen has admitted he made illegal campaign contributions at the behest of trump. all the president's wasn't mentioned, the money paid paid to a portey star to keep quiet about an affair she claimed t

spooked it seems by the troubles in turkey but internet stocks may be reacting to a downturn of china's tech giant so online retail power player alibaba the world's largest gaming company 10-cent dropping this hour, hitting a new annual low down as you can see more than, well 6.5% down two, nearly $3 at 41 and this after reporting a slide in profits for the first time in 13 years, obviously investors weren't expecting that. anyway here to weigh in is someone who knows a thing or two about caltech david morgan co- founder and ceo of bandwidth joins us in a fox business exclusive. david thank you so much for joining us. we can start with china if you like because it's interesting tencent showing growth slowing down. i read somewhere that they're big into video games and the chinese government is saying video games aren't good for kids and we've seen a bit of a slow down in that big giant company in china called tencent, and its hurt the other big internet players any comment on that? >> well i have six children three of which are boys and fort knight and other games have proved to be unbelieva

implications of the trade war on alibaba's business. >> it will have a hangover the market and for china techhole. for alibaba itself, if you look at core revenue, it is still coming from china even though jack ma has a vision to expand revenue outside china to 50% in the long run. it is not there yet. the company is saying they are looking at other evoking markets in southeast asia, latin america. jack ma did promise donald trump one million jobs at the beginning of last year five road, andthe war -- with the trade war we don't know how the targets are coming along. thank you for that. let's look at the stories trending on bloomberg.com, why investors are urged to get their heads in the clouds. say the space industry to -- could expand to $1 trillion 2020. on the terminal, elon musk said to have hired morgan stanley with his plan to take tesla private. the firm suspended coverage on tuesday without explanation. istictoc, snap's ceo embarking on a quest on self-improvement, and he is taking snapchat with him. check out those stories. lots more to come. this is bloomberg. ♪ ♪ haidi: president

most of them were made using apps and payment platforms owned or backed by china's to tech giants, alibabaencent. more than a billion people use wechat pay for simple transactions like buying food and more complex deals like taking out a personal loan. financial technology is easing into the business from traditional state-owned banks. >> the growth of mobile payment reflects the underdevelopment of the traditional financial element of china. people are either so -- they are people that are under banks were no bank services. >> making online banker apps and more user-friendly is crucial. >> they are picking up fast because there is almost no barrier in terms of technology. >> the chinese central bank is also complaining a cashless society threatens deposits and fees. in july, china urged consumers and businesses not to refuse cash. in early august, it find alipay hundreds of thousands of dollars in breaching rules. but, they are one step ahead. they launched a chain of stores where, not surprisingly, mobile payment is encouraged and cash is not. >>[speaking a foreign language] doubt thehin

insight, believe it or not, this is the cutting edge of china's push the high—tech supremacy. cameras. it is a small part of a much bigger government backed effort called made in china 2025. addressing the country's top scientists earlier this year, the chinese leader spoke about self—determination. he wants china to make its own civil aircraft, dominate in industrial robots and electric vehicles. at the camera chip firm they have high hopes but they think 2025, for their sector, is ambitious. china is coming. i believe china is coming. but it takes time. this item epitomiese the push for technological advancement, particularly in sectors where it thinks it can take the lead, maybe dominate. the firm was set up with the help of government money. its biggest client is the government that it exists but it insists the rest of the world have nothing to fear. made in china 2025 is so important to this country and so worrisome to some other countries because it is notjust about making new hardware like this camera. it is about information. and what you do with that information. this

versus china tech. it continues to fall.se base has been in a bubble and has burst now? >> i would not say that -- it has been in a bubble but expectation on the chinese technology names, i just think ort any kind of miss evidence that growth was slowing was always going to have a disproportionate impact on share prices. yvonne: what does it mean for emerging markets as well? em ats to largely unfazed by the turkey situation. we continue to see currencies we can and prices, what does this mean for flows? >> flows and local currency, bond etf's, year to date have been fairly weak. it is definitely fair to say that the currency situation, the strength of the u.s. dollar and the weakness of the currencies coupled with instances of increased volatility in a geopolitical basis such as turkey for example. they recently cause investors to pause and emerging markets local currency debt. we have seen some outflows, some fairly significant outflows your today -- year to date. investors are becoming more cautious on emerging markets du

shen's end is china's silicon valley and has more than fifteen million inhabitants this is where most high tech companies are located incomes here are the highest in the country it's china's fastest growing city and has the most electric buses

democracy or peaceful protests in china would have to be sensed that the google to get the go ahead for the venture the plans would represent an about face from the us tech giants previous china policy and twenty ten company pulled out of the market to avoid strict guidelines chinese state media has denied their reports and google while it's yet to comment on. shares in siemens stumps on thursday offer a mixed bag of corporate results lower profits for its third quarter but show up a high order still what's got investors and workers worried of ake plans to streamline germany's biggest industrial complex. it's been five years since siemens c.e.o. joe kayser carried out his last restructuring plan and now he's at it again. the three sectors gas and power smart infrastructure and digital industry will now be autonomous lee run that way decisions can be reached quicker hopefully helping drive sales and earnings. behind the restructuring is a plan to float all three independent divisions on the market as separate i.p.o.'s where they can be sold or merged on something that has already happened in other areas of the group medical technology to be healthy nears

. >>> when we come back, jd.com adding to china's tech stock selloff, what if anything will cause a turnd for the big tech pyelars we'll talk about that after this break. i love you, basement bathroom of solitude, but sometimes you stink. febreze air effects doesn't just mask, it cleans away odors. because the things you love can stink. >>> dow's up 327 >> we are watching those shares of e-commerce company jd.com we're just about flat on the report this morning. investors are trying to see what that price action says on whether it's worth trying to dip into these chinese beaten stocks because things have gotten bad enough where there may be a value situation argument into waiting for long positions the large cap chinese ticker xfi, it's up on the day after four straight down days, as is the crane shares chesapeake bay internet etf, that ticker kweb those four biggest holdings of that fund is allibabalibaba, bad net ease that industry, broadly speaking is worth buying given all the weakness we have been seeing at the beginning of this year as you can see, it's still down on the day, it's

wait, a china tech company declining profits, that doesn't happen people were shocked.ut at 6:00, the ten cent news. we were at 28.34 look at that the market just dropped ten points right at the ten cent news i think that was a major factor in the market's weakness ten cent, you know that they do. they're online gaming. a lot of scrutiny from the regulators over their -- about monetizing the online games. i think that really affected them social network, online ads also very big i think the whole issue around the gaming was a big problem china stocks have had a horrible time this year this is a very common theme. jd.com, they're reporting tomorrow 33% down ten cent down, baidu, alibaba, most hit the highs back in february elsewhere another bad day for commodities here we have a strong dollar. we have slower global growth concerns copper is down 20% from the 52 week high. a lot of speculation, might be some central bank selling of gold that's putting pressure on gold they don't put out a press release on that so it's all speculative. but you see the effect it's been havi

basically china tech versus the faangs.ntings these companies when you say growth margins come in by 200 basis points? do we really know what's going on there? tim: if you look at the internet stocks, one thing you can do is look at alibaba. the real concern is that topline revenue is growing and that's great. they are having to spend more and more money on sales and marketing and promotions to get heads out there to bring people back online. the cost of that revenue is driving. you can throw a whole lot of marketing money at something and get numbers up. it is costing them more and more. a real king for a long time, their growth margins are at historic lows because they are spending more and more money to get the topline to keep growing. that is a real concern. tom: can the government support these stocks if the bear market continues? well, the government pretends that they don't support the stocks at all. they are publicly traded stocks. i think they will maybe not support the stock directly but certainly support the unde

china is stability on a trade-weighted basis. if you are looking for stability, it is in the carry. guy: one thing that stands out is the techg features of both markets and they are under pressure. is china and the united states -- are they simply tech trades? alan: they are both. that is kind of a mixed picture we have seen in earnings season in the united states. apple has probably saved the day, with tesla overnight. i think we are ok. when you are buying china, you are buying tech. alan will be joining bloomberg radio. this is bloomberg. ♪ phones have made our lives effortless. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. loweran stocks trade after china s

administration calls beijing's unfair trade practices act the hot off this dispute is china's largest expansion of its tech sector the so-called made in china twenty twenty five plan is meant to catapult the world's second biggest economy from the world's sweatshop to a global technology hop. the world's work bench no more instead chinese internet giants like search machine baidu tech investor ten cent and online retailer ali baba and the leading global innovators they've risen from start ups to multi-billion dollar. albeit with considerable state backing subsidies cheap loans restrictions on foreign competitors copying copyrighted technologies it's no holds barred as china zeroes in on becoming the world's leading industrial economy. the successes of this state controlled economy are impressive gross domestic product has expanded at a breathtaking rate and it's rapidly closing in on current number one the u.s. . beijing's made in china twenty twenty five program is aimed at finally transforming the huge country into a global economic power. ten key industries including aviation railways and electric autos

china well since that quote was released the times have changed eight years later google is reportedly secretly planning its return a new report from the investigative website the intercept says that the tech giant has a team secretly working on a new censored version of its search engine for china well now turkey has threatened to retaliate against the u.s. after washington imposed sanctions on some of its government officials the sanctions are in response to the detention of american pastor andrew bronson who was arrested in the wake of the failed coup back in twenty sixteen despite the bush stance from turkey's currency sunk as the sanctions took effect. effect of the u.s. sanctions on turkey can be observed over the course of just one day as the donor rises in value. or has fallen even further we're lucky if it doesn't fall further than ten. i just milk and eggs have become more expensive gas is more expensive and so is a bridge that your brand the divide between nato partners u.s. and turkey is deepening interior minister who himself was hindered by the entry ban tweeted this someone who belongs to us in america for to no good and we will take him back so he was referring to the islam

china. here's this morning's tech bites. >> in today's tech bites, facebook's new dating feature. the company employees are intern aly testing it out. >> users will be able to browse matches based on what facebook knows about them. here in the u.s. it will be limited to users 18 and over. and doctors have coined a phrase nap chaths dysmorphia. >> the psychology of patients seeking surgery to look more like the filtered versions of themselves on snap. a respected medical journal calls it an alarming trend that blurs the line between fantasy and reality. >>> airbnb is offering the chance to spend a night on the great wall of china. >> the contest winner will sleep in a guard tower. entries will be accepted through saturday but compete with me and ken d kendisbecause we are going to get there first. >> those are your tech bites. >> could be fun. no roof. roofless. pack a sleeping bag. >> 4:52. following breaking news on the bay bridge. the traffic is moving, although very slowly on the eastbound side because of a deadly shooting this morning. >> alexis has been telling us we've seen

we talk about china but the shanghai down 18% year to date but look at that, the tech heavy shenzen which a rough way down 23% this year it's the worst perrmfoing major market this year random but interesting take care. wednesday august 8th, the hottest country stars perform their newest hits. carrie underwood, blake sheldon, keith urban, chris stapleton, jason aldean, luke bryan and one of a kind rocking duets thomas rhett and kelsea ballerini host... let's get this started! cma fest wednesday august 8th 8/7 central on abc. xfinity gives you more of the cma fest with an encore performance from old dominion right after the show. only with xfinity on demand. and watch it live on abc wednesday august 8th. >> one of apple's biggest suppliers hit by a computer virus and venezuela's president surviving a bizarre assassination attempt that i'm sure you have seen the video of, conducted by drones. he's likely to use it to consolidate power. it's monday, august 6th, 2018. squawk box begins right now. ♪ >> live from new york where business never sleeps, this is squawk box ♪ >> good morning. welcom

>>>als, employees at goog raleigh protesting tear concerns about the tech giant in china. we talk to the journalist that got access to their letter. we are live here in the united nations and all around the world, i'm george howell. >> i'm natalie allen. "newsroom" starts right now. >>> the backlash is growing over the u.s. president revokeing security clearance for one former official and threatening to do the same for more. >> so far, 75 former intelligence officials have spoken out against it, issuing more sting rebukes for revoking the security clearance of former cia director, john brennan. >> 60 cia officials say the country is the weakened when a political litmus test is tied to security clearances. >> that is on top of the former 15 directors, and director of national intelligence, serving under both republican and democratic administrations back to the 1980s they say the president's actions are politically motivated. >> and this from the washington post reporting the white house has already drafted documents revoking clearances for more people mr. trump feels shou

the tech sector in china has been under pressure. ary, youthe can see the value of chinese techs are slipping compared to u.s. counterparts. to get more insight, we spoke with the managing director and founder of the chinese market research group. >> j.d. is in trouble. this is because of increasing competition. rise ofseen the companies in the last six months that are starting to take away share from jd. its business model is kind of outmoded. a lot of technical innovation and e-commerce in china -- people talk with their friends online and have to convince others to buy the same products. if they do so, they gets bigger discounts. the biggest problem is competition. emily: are those same competitors eating into alibaba's market share as well? shaun: alibaba is a lot stronger. they have been able to adjust. which we have found is the rise televisionaming shows. i interviewed a 40-year-old woman in beijing who has been shopping every day on alibaba because she finds the shows are quite interesting. you have individuals opening up shop

jenna has a growing tech sector, but however -- china has a growing tech sector.y are talking about the tech sector with extremely strong earnings. that is likely to continue, driven by earnings, it is hard to fight that trend, looking at the chart. anna: thank you for joining us, n.a johnson and the gun. mexico is said to have denied the existing plans for a handshake deal. and. , the eu and the united kingdom will conduct exit talks continuously from now on, lucky us, as they rush to go put deal by the end of this year. keeping journalists on both sides of the china very busy. this is bloomberg. ♪ this is bloomberg. ♪ we will talk about all of these things next. ill talk about all of these things next. ♪ >> good morning, everybody. x: 20 in london, 2:20 in hong kong. we saw a move into a haven assets, as a result of michael cohen news, the long-term lawyer of the president pleading guilty to federal. tax fraud charges let us look at the bloomberg business last for you now. juliette saly has the latest from singapore. juliette: and i the italian government is con

in china in the hopes that it might grow over time but we have to realize it's almost malpractise for a business that has global ambitions to ignore the largest market in the world can seem. any tech company is knocking at the door of china's huge revenues but this does not mean that china wants to go under president xi jinping into the sunset has gotten even tighter the so any kind of censorship deal that google can strike with the governments now would be much worse than back in twenty ten and this is the real bind that operation in china puts on such companies how much can you criticize governments whose permission you need to operate in the markets. we're discussing another story that's on our radar this week with one of our producers johannah joe in yemen bombs continue to corner civilian lives dozens more were killed there this past thursday and c.n.n. recently produced a report that was a little bit different in that it looked into a couple of angles on the bombing of yemen the don't get much coverage what did that report actually c.n.n. was reporting on that airstrike on august ninth by the saudi led coalition the one that hit a school bus killing forty children apiece was