what should be done by china, what can be pursued bilaterally between the u.s. and china. climate change, avoiding it, mitigating. calling on the u.s. to do its job in terms of imf and governance reform, which certainly all of us in this building are have called for. and the whole growth outlook of the g-20. there are so many things to talk about. before i open it up to questions from the floor, let me pose two things, if i could. so, first you mentioned the progress in the bilateral development treaty and your hopes for changes in some of the export requirements from the u.s. in terms of high-tech trade. we have a new study coming out next week by fred, and sean minor, where the three authors are setting out an ambitious road map for u.s.-china relations on trade. how far do you think the bilateral investment treaty can go? realistically, where do you think the impact will be over the next couple of years? will it mostly be over u.s. investment in china, are you hopeful that the people in the u.s. will become more receptive to chinese investment the way the u.s. was recept

u.s./china relationship. it's of a vastly different character. o, we need a more textured understanding in beijing of what the nature of u.s. operation policy is but the term containment is not accurate and in my judgment can lead to erroneous policy conclusions in beijing. now, let me flip the tables again in terms of what i think is erroneous american perceptions of china. when americans say we as a civilization have never been in the business of establishing overseas colonies when we had the national capacity to do so and therefore we have no such interest again in the future, other than to engage the world commercially, i think that's about right. when you look at china's history, from the ming dynasty to the present, so many dynamic forces in china's history have been how to deal with profound dynamic history. how do you feed a quarter of humanity? how do you deal with its current manifestations in terms of the impact of air pollution, water quality and the rest? my overall point therefore, being, in the case of the perception that our chines

u.s./china relationship. it is of a vastly different character. and so we need a more textured understanding in beijing as to what the nature of u.s. operational policy is. but the term containment is not accurate, and in my judgment can lead to erroneous policy conclusions in beijing. now, let me flip the tables, again, in terms of what i think is erroneous american perceptions of china. when china in its tradition and its current leadership of china. when china in its tradition and its current leadership constantly say, we, as a civilized nation, have never been in the business of establishing overseas colonies when we had the national capacity to do so, and therefore we have no such interest again in the future, other than to engage the world commercially, i think that's about right. when you look at china's history from the ming dynasty to the present, so many of the animating forces in chinese history have been how to deal with its profound domestic agenda which have almost overwhelmed every successive generation of chinese leaders. how do you

said resolving human rights issues in china would help make that country stronger. the u.s. has been somewhat reluctant to directly criticize china, at least overtly on this

u.s.-china relationship. vastly different. more transit understanding of the nature of u.s. operational policy. the term containment is inaccurate, and in my judgment it can lead to erroneous policy conclusions now, let me flip the tables again in terms of what i think it is erroneous american perceptions of china. when china says we come as a civilization, i've never been in the business of establishing a overseas colonies when we have a natural capacity to do so and therefore no self-interest to engage the world commercially. i think that's about right. when you look get china's history from the main dynasty to the presence of many of the forces in chinese history have not had to do with this profound domestic agenda, which is almost overwhelming every successful generation of chinese leaders. ..

corey, what do you see as more valuable to ali baba, the right to distribute the content in china or investing in u.sios directly, potentially? >> it's hard to say. the growth of movies in china, the theatrical film business is huge. it's over 30% this year. think of it another way. the revenues and movies this year in china are already equal to last year. we are only in >> it's hard to october. get a ticket to a popular u.s. movie in china. it's hard. >> that is the second line. the biggest movies in china are u.s. movies. the biggest was "transformers." the most recent "x-men" movie was the number three this year. you see u.s. studios creating contest that's really hot. 30% year over year growth is the kind of number that attracts them. there's not a lot of competition in streaming market, the officially sanctioned streaming site, m-1905, in china. that's the biggest distribution platform online. one wonders if ali baba with its close relationship with government in china might be able to offer a competitor. >> ali baba has a set top box. do you know about the success of that? >> it's early days. t

u.s. readness as china continues in the asia pacific region. nhk world's charmaine deogracias reports. >> reporter: members of the u.s. forces combined for a joint exercise known as valiant shield. they conduct the drill every two years to prepare for an emergency in asia. we're aboard "u.s.s. george washington" in the pacific ocean. it's just one of two aircraft carriers participating in exercise valiant shield. with 18,000 troops jointly training for air-to-sea combat. military officials expanded the exercise this year so that it was more than twice as big as last time. they included two aircraft carriers and more than 200 fighter jets. the officials are responding to china's increasingly assertive maritime activities. beijing has been expanding its reclamation work on a reef among the spratly islands in the south china sea. the philippines and other countries have territorial claims there. officials in the philippines, a longtime ally of the u.s., say china has started construction of what appeared to be military installations. chinese milita

kong are standing their ground scoring media coverage of their demonstration is clamped down in china. >>> u.s. health authorities are keeping a man with ebola in isolation as they monitor people who came into contact with him including children. >>> and we'll show you how some young people in yes or no japan are getting a helping hand to fight prejudice. >>> prodemocracy demonstrators in hong kong are turning up the pressure on authorities. they say if chief executive cy leung doesn't step down by thursday night they'll escalate demonstrations. students and activists took to the streets late last month. more joined them this week. they're protesting china's decision to change the choices voters get for the next election of the hong kong leader. a commentary in the communist party's daily newspaper calls demonstrations illegal and says the chinese government has full trust in hong kong's leader. tv did not show the demonstrations. it showed people waving chinese flags and singing the national anthem. the chinese government is censoring foreign tv coverage of the protest. people watching nhk,bb

hard.get a ticket is >> the biggest movies in china are u.s. movies. e biggest selling movie in china was "transformers." number three. u.s. studios are creating content that is hot in china. is the kindgrowth of numbers that alibaba likes. there's not a lot of competition in the streaming market over there. m1905 andsite called that is the biggest distribution platform online. might bers if alibaba able to offer being a competitor. >> alibaba has a set-top ox but how successful has it been? >> i think it's early days for them. they got that content with that july deal with lions gate which will help. "madme=n"mes" and our popular. any kind of deal they do going forward will be important as jack mann does not do something unless he can get the approvals for it in china. thatmay be an indication the television censors will loosen up. that would be very good news for hollywood and jack ma. >> alex, alibaba made a $1.2 billion investment in china's version of youtube. inhuluhey be interested or netflix? >> i think the entire u.s. investment bank and world

that the waldorf had just been sold to the chinese that has ties to the ruling communist party in china. u.snt officials now say that this is the thing. the state department is publicly expressing their concerns that the chinese government might use the new purchase to spy on u.s. officials staying at the waldorf. officials say monday they are reviewing the sale and implying the glittering renovation scheme might mask a nefarious purpose -- espionage. as in they're worried the chinese spies will bug the rooms. the state department already warns u.s. diplomats going to china that their hotel rooms could be bugged. now they're concerned the chinese might bug hotel room here's, including the room where the mount stays every year and where the ambassador to the u.n. lives all around. press 1 for the front desk, press 2 for the news service to the people's republic of china. i love this story. we will see you tomorrow. this but i love this story. "first look" is up next. >>> good morning, everybody. right now on "first look," dozens of tornadoes and powerful thunderstorms will cause some major da

as russia and china far with the u.s. over a postcold war older where does india fit? walter anderson, can he be a free agent. >> it's a difficult task to do, he admires the chinese development, he has turned to china for economic advice on how to handle developmental growth, but at the same time, he is very conscious of the challenge. during the break, we mentioned the fact that chinese troops came across the line of control, he made a public statement immediately and sent out indian troops this was something not to be done, and he was reacting to it. in front of the chinese president. who was in india at the time. >> a lot of americans probably don't remember, that india and china fought a war and have fought over their border since the 60's. is there a overhang from that, a shadow that remains over their relationship. >> absolutely. what it does, it wasn't just a war, what happened before, there was a number of years of india reaching out to china, china resipry kateed and there was a sense with the dispute, that china and you would hear the word betray india, so eve

u.s. and china. but also, we have ramped up pressure on china in the u.s. ave called them out as intellectual property theft perpetrators, so there is added incentive. there are very few consequences for this in china, if you are caught hacking u.s. companies, so there are very few reasons not to improve your capabilities. >> the fbi is asking companies like apple and google to be more cooperative and give them a front door to information on our smartphones. of course, apple and google recently ratcheted up security, making that supposedly more difficult. why would apple and google want to help the fbi? >> it's an interesting mission. fbi and law enforcement are saying, if you make it harder for us to pull data off of devices, our criminal investigations will be stymied. the thing left out of this organization, all that data can still be accessed through standard, legitimate warrants. apple and google says, if you own our device and it gets stolen or gets into the hands of law-enforcement, the device will be harder to crack, but every other investigative too

u.s. jobs over here, right? >> well, i think it could be but in china, the u.s. little heat here and bring tariffs to trade or something like that but if they are not treating their workers well, it's a danger to u.s. workers. >> and rich, more to the point, they are accusing them of all kinds of monopoly behavior when they are not the monopolist. they are not treating us the way we allow them to be treated here. >> yeah, but global trade is really valuable and should not be screwed around with. and so if there is going to be pressure put on, it should be behind the scenes, a big s(q'e shouldn't be made about it because trade wars are bad for t$e global economy and lead to shooting wars. by the way, the big telecom giant in china spent about $10 billion a year selling chips for qualcomm and we don't let them compete in the united states. >> maybe. but compare the way the chinese govq)nment treats our workers. that's because the government allows them to have that -- >> yes, that's right. >> i imagine if amazon tried to get in, they wouldn't be given open doors. >

slowly in a fragile and fragmented way slowly getting better and as the headwinds are abating in china, u.s. equity looking stronger. so not so worried that there's an ominous signal in interest rates and corporate bonds that we need to be concerned about. >> terrific question. i always think the first three quarters of the cyclical bull market, corporate bond spreads tighten and basically, high yields in particular, and then what happens is in the last yea should get rid of the high yield of your portfolio, and you should enjoy equities for the last eight months. we've had the lows and we've had the equity lows. they will trend up in the next 18 months. corporate bond spreads correlate very h highly with that. they both measure risk in the corporate sector. slow rising as george characterizes. what is interesting is we've had six years of corporate interest rates and a lot of money creation. i think that tells you it maybe shows, but there probably haent been much to at this point over. >> what do you make about the comments from carl icahn about the high yields being a total bubble at the

u.s. ambassador to china. stay with us. ♪ >> drug manufacturers are jumping at the chance to find treatments and profits in the global fight against ebola. beeny holliday has following that story. what drugs act or have a shot at treating this virus? >> there are a few. come to his around the world are scrambling to join this race to find a cure for ebola, but there are few -- three main companies that are driving the conversation. one is developed tkm ebola. one has zmapp. dofovir.other has brinci those are the three drugs the people are talking about. they have been used in the u.s. on an external basis. two of those three that of actually been proven effective zmapp.eys, tkm-ebola and . they are difficult to manufacture. we have already exhausted our supply of zmapp. tkm-ebola is very limited. there are trying to scale up the drug so they can be used on an external basis and we can roll out these human trials and, hopefully, head on a path toward approval by fda and use them around the world. >> what about

with a two -- the china u.s. relations two weeks ago i was at a hearing visiting with the u.s. . but the leadership are inspired but could you please share in your opinion the most suggestion as our ambassador to china? thank-you. >> thank you for the question aha the biggest challenge to talk about disputes of various kinds it gets down to the ability to build trust it is earned by working together as we did during the cold war. what brought us together. so with the establishment of the republic of china. but i did not bring anybody to gather. the common objective was a balance of power goal which to deal with the soviet union that kept us together for purposes of economic enhancement or political cooperation. then rebuilt on that objective the economic goal which occupied part of the 1990's. and clear the way for china to reform its economy was a huge deal. and i would say in today's world we slowly burned through the trust that we built up in that is not a good thing. so this is a challenge. what can we do together that should have a long list of things we're working on to ma

the imf, and they talk about a slowdown and recovery that is mediocre and looked at europe and china, u.s. was reasonably healthy. >> right. and so the u.s. has been looking pretty good, but not a roaring boom by any means and then there is big troubles. europe is actually seriously scary, china is, in=-áf fact, seriously scary although it is harder to track, but it gets less press and we are not an island, i think internationally, our enter depen democrats can be overstated but we are not completely immune to the bad developments and we are not on that solid of a basis here. so here we are, six years after, still, very fragile. >> rose: let's talk about europe first. what is the problem in europe? >> well, that shifted. first it was originally all the problem in the debtor companies and very strong germany but now their problem is that after years and years of not -- of being worried about the wrong thing, being too worried about debt, being worried about inflation which never came, and now they suddenly look around and discover that they have turned into japan without the social cohesi

the china-u.s. relationship is a new narrative, a common narrative and here i don't simply speak in terms of some sort of foreign policy utopianism or some academic seminar. that is not helpful. i think you need a framework which somehow, someway with 158 es about a new type of great relationship. if you understand why president sheikh put that forward, is how you construct a relationship, which doesn't replicate the inevitability of conflict is received in the history of great powers before. beyond that, it is basically a headline and an idea, a line. it is a sentence. if you go to chinese think tank land, as i do very often come at the actual internal conflict is very fluid indeed. so what could a possible common narrative look lakeway well, this is a very complex question. i would leave you with two or three thoughts. a common thread between china and the united states is important for the reason i just mentioned. those have narratives about each other, not a common narrative for both of them. ch

u.s. they do great it china but u.s. markets are dragging them down. liz: i thought "transformers" was a block with user it? >> how much translated to imax revenues was disappointment. liz: we're excited with the "star wars" movie. let's get to positive surprises. >> allstate. have you heard of hurricanes? that is great news for allstate. they have a catastrophe charge that they haven't announced. typically what that means they don't expect to need it or well below it. that is a good sign. a lot of analysts way above consensus. the consensus right now is 1 heroin $45. we've seen five-star analysts way bought consensus. these analysts have been right in the past. expect them to be right again. operating margins are at all-time high. liz: second pick. >> the second pick l brands. partially because they didn't like that limited logo i think. l brands, victoria secrets, bed bath bodyworks are doing fantastic. women seem to go into the shops, not looking for discounts. liz: looking for pumpkins and candles from bath & body works. they have a positive predic

china's army. chinese president xi jinping is due to hold talks with u.s. president obama after the apec economic leader summit. it's expected the two leaders will have a frank exchange of opinions. another issue is the frosty relationship between china and japan. japanese prime minister shinzo abe has yet to meet with chinese leader since taking office in 2012. abe has said he would prefer meeting without any preconditions. but china feels talks would be pointless unless abe expresses a willingness to compromise. chinese leaders have also been challenged by pro-democratic protesters in hong kong. a standoff of about three weeks of election reform is making some nations concerned. but still, china's leaders are determined to make apec successful. associate professor gui yyongtao expects that china will make concerted efforts to prevent heated discussions at this meeting. >> we want all parties to this summit to contribute to a positive mood of this meeting and china, i guess, would not like any parties to sort of raise particular difficult issues that cannot

china and how that is provoked. thank you. >> i am from beijing. my home town -- >> thank you for those questions. the biggest challenge in the u.s., talk about disputes of various kinds, it really gets down to our ability to build trust one way or another. when we have trust it has been earned by looking to get there as we did during the cold war but what brought us together in 1972 after an estrangement following the end of world war ii and in 1949 the establishment of the people's republic of china, what brought us together with a common objective, we were talking politics. how you bring anybody to get dickie to have a common objective and a common objective was a balance of power goal which was called dealing effectively with the soviet union. for purposes of economic enhancement or political cooperation or even certain aspects of intelligence cooperation, built on that, and economic goals, occupied a good part of the 1990s and the premier basically cleared the way to reform its economy so it is acute deal and we built up trust. i would say in today's world we are slowly burning through the trust that we built up and that is n

u.s. businesses access to greater china. will talk to the undersecretary of commerce for international trade about what the u.s. commerce department is doing to help american companies gain access to china. stay with us. "bottom line," on bloomberg television continues in just a moment. ♪ >> let's check top stories. hilton is selling the waldorf-astoria hotel. the buyer -- chinese insurance company. the price, almost $2 billion. hilton says it will use the money to buy other u.s. assets. hilton bought the waldorf 42 years ago, and will continue to manage it. that would will undergo a major renovation. ahead of a white house meeting on the able outbreak, federal health officials say the u.s. is weighing whether to institute extra screening at american airports. an american journalist who contracted ebola while working in nigeria arrived at a nebraska hospital where he will be treated. he will be kept in a specialized biocontainment unit, not specifically to handle this type of illness. things are getting back to normal in hong

u.s. economy still dwarfs china's.13, america's gdp was $16.8 trillion to china's $9.5 trillion. >>> there is also new data showing that the u.s. budget deficit fell by almost a third in the last fiscal year. the congressional budget office or cbo, estimating the difference between how much the u.s. made and how much it spent, it is around $486 billion. and that's the lowest since 2008. the cbo says spending was up nearly 1.5%, while revenue was up nearly 9%, mostly driven by higher income and payroll taxes. >>> u.s. regulators say that at&t has now agreed to pay more than a million bucks to settle so-called cramming allegations. you've heard of cramming before. so, at&t was accused of illegally billing customers for services that they never requested, such as daily horoscopes or trivia. all this stuff shows up on people's bills, and if you don't look at your bill, then you don't know it's there. the ftc says 40% of customers did see these charges on their bill. they complained about them. we're told the company will p

u.s. the other half comes from places like europe as well as china and latin america. now, the concern is that, while the u.s. is recovering, europe's growth is flat at best and some countries like italy are seeing negative growth. there's concerns about a softer chinese economy. in the past strength in china was enough to offset disappointment in europe. that may not be the case in time. the world bank today said china's growth is slowing and that gdp growth will be lower this year and next. that's why there's a lot of interest in yum! brands. they report earnings tomorrow. the company gets 53% of its revenues from china, only 23% from the u.s. the concern is that we could have a split earnings season. good news for smaller companies with a u.s.-based focus but more cautious commentary from those larger companies that have operations in europe and in asia. for "nightly business report," i'm bob pisani at the new york stock exchange. >>> mike thompson says corporate america could reveal that earnings rose by as much as 10% in the third quarter. of course, mike is head o

u.s. economy and china economy. the vice minister's remarks from the peterson institute of international economics are about 90 minutes. >> good afternoon, ladies and gentlemen. i know you've been with us all day today, and yesterday. it's been an exciting event here, but none perhaps as exciting as right now. yesterday we had the secretary of the treasury of the united states, jack liu with us. today we are privileged, and i believe about to be thoroughly informed by guangyao zhu, forgive my pronunciation. mr. zhu has been involved in china's international economic relations at the highest level for a long time. he graduated from finance science research institute of the ministry of finance of the people's republic of china, he was the executive director of china at the world bank group, he was assistant minister of finance until 2010. my predecessor fred bergston had a counterpart in vice minister zhu, as the other side for a while. we're now very proud to interact quite frequently with vice minister zhu, here and

finally, mercer ranks the country with the top spot, denmark, and australia, among the first, china the u.s. get a grade of c in the 25 country index, not so good. that is "nightly business report," i'm susie gharib, thank you for joining us. >>> and i'm tyler mathisen, thank you for joining us, we hope to see you right back here tomorrow night. >> "nightly business report" has been brought to you in part by. >> the street.com, with stephanie link who shares her insights with action alerts plus the multi-million dollar portfolio she manages with jim cramer, you can learn more at the street.com/nbr. >> kovler foundation, union bank and beijing tourism. >> at union bank, our relationship managers use their expertise in global finance to guide you through the bns strategies and opportunities of international commerce. we put our extended global network to work for a wide range of companies, from small businesses to major corporations. what can we do for you?

u.s. ships came close to colliding. china is its territory, and it wants other navies and air forces to keep out. that is not something the u.s. navy is about to accept. >> when we talk about our capabilities, our capabilities to operate in a generally unrestricted way in the waters of our choice, some countries have increasingly complex anti-access weapons. our procedureste to continue to operate in an unfettered manner. words, china's ambitions to dominate this region will not go unchallenged. the u.s. navy will continue to sail its carriers through the east and south china seas. bbc news, onboard the uss george washington. the south china sea. now, let's go to afghanistan, where the new first lady says she welcomes what comes with being a public figure. the lebanese mother of two is expected to have a much more public profile than her predecessors. women'sis to make empowerment in the country a top priority. she spoke to the bbc during her first broadcast interview since her husband's inauguration last month. >> even when

finally, mercer ranks the country with the top spot, denmark, and australia, among the first, china the u.s. get a grade of c in the 25 country index, not so good. that is "nightly business report," i'm susie gharib, thank you for joining us. >>> and i'm tyler mathisen, thank you for joining us, we hope to see you right back here tomorrow night. >> "nightly business report" has been brought to you in part by. >> the street.com, with stephanie link who shares her insights with action alerts plus the multi-million dollar portfolio she manages with jim cramer, you can learn more at the street.com/nbr. >>> >> one of the good things and bad things about basic research is you don't necessarily have a plan for what you're trying to do. >>> dr. rick was the fist employee of microsoft research. he's run the lab for more than 20 years. the impact of his work and leadership as been felt throughout the world. rick shared his revolutionaries insights. >> i wanted to start we're going to spend a lot of time looking forward but i wanted to

finally, mercer ranks the country with the top spot, denmark, and australia, among the first, china the u.s. get a grade of c in the 25 country index, not so good. that is "nightly business report," i'm susie gharib, thank you for joining us. >>> and i'm tyler mathisen, thank you for joining us, we hope to see you right back here tomorrow night. >> "nightly business report" has been brought to you in part by. >> the street.com, with stephanie link who shares her insights with action alerts plus the multi-million dollar portfolio she manages with jim cramer, you can learn more at the street.com/nbr. >>> everybody's doing it, come on! >> narrator: belva stone may seem like an ordinary 27-year-old but three nights a week, belva dabbles in the pre-orderal, instructing other young women in the ancient art of poi. tonight we visit the frontiers of the dance world, where fire dancing is just one of many ways that the ancient and contemporary are merging to create new forms of bodily expression. in our first story, we explore the mesmerizing art of butoh, with ledoh, one of the bay area's leading p