china. olaf scholz took the side of the u.s. businesses to pull back from pivotal businesses as far as doing business with china. jonathan: we will bring you the news conference when it happens. we are down a little bit on the s&p 500. down by 10 basis points on the s&p 500. the governor while are pushing back a little bit earlier. a bit of dollar strength down in australia but monster dollar weakness last week. crude is down a little more than 1% stop that she feet, must charged with following some of the feds week, what is you make of the latest comments by the fed governor? >> i think we will see more. the fed has agreed to do more measured rate hikes but as they closing on a terminal rate, we still think terminal rate, the peak is higher than just a few months ago. they will stick to that language for quite some time. when we see the pce index because of the we're medical cost deceleration, the pci indexes a day before the fed meets in december, that will show a little hotter core cpi. they will continue to raise rates but at

u.s. and china.ound like these two leaders are talking about some kind of new framework for interacting with each other, recognizing that what's been going on in the past simply isn't working. >> okay. ivan, we'll come back to you as well, steven, later on. so much to dissect here. that meeting, crucial meeting, under way between the world's two most powerful leaders of china and the united states. and the whole world really is genuinely watching today to try to get some positivity about that because it's so central. we'll be back in just a moment. with my student loan. the interest was costing me... well, us... a fortune. no matatter how much we paid it was always just... there. you know? ♪ soso, i broke up with my bad student loan debt and refinanced with sofi.. turns out wewe could save thousands. break up with bad student loan debt. refi and you could save thousands. plus, we're paying off up to a million dollars of student debt. enter at sofi.com/million sofi get your money right. ♪ >>> ukrainia

using china-u.s. relations at the back of that meeting, easing restrictions around covid and the support for the property sector. u.s. futures looking at gains of 0.5% today. we are looking at energy providers on the back of the news that the chancellor may be looking at a windfall tax in the u.k. three straight days of gains across european equities when you build on that, following the catalysts out of china, commentary from the vice chair of the fed, lael brainard, saying there might be a moment to consider reducing the rate or at least the size of the rate increases. the market saying 50 basis points from the fed in december. decent gains in the first few seconds in germany. in the u.k., down by 0.5%. the spanish ibex currently range bound. let's look at how the rest of the assets are playing out. dollar weakness is a catalyst for the risk on moves. you are 6% lower on the dollar, the bloomberg dollar index from its most recent peak. futures stateside pointing to a full 0.9% gain. the technology c

currently, the china u.s.ch a situation that we all care a lot about it because this is not the fundamental interest of our two countries and peoples. and it is not one of the international community. as leaders of the two major countries, we need to chart the right course for the china/u.s. relationship. we need to find the right direction for the bilateral relationship going forward and elevate the relationship. a statesman should think about and nowhere to lead his country. he should also think about and know how to get along with other countries and the wider world. well, and this time and age, ways are unfolding like never before, humanity are confronted with unprecedented challenges. the world has come to a crossroads where to go from here, this is a question that is not only on our minds, but also on the mind of all countries pure the world expects that china and the united states will properly handle the relat relationship. and for our meeting, it has captured the world's attention. so we need to work

u.s. and china in a war. always see is a dance not just bilateral but in the u.s. d china but with the rest of the world the g20 will be a platform we will see that. we'll see the next few months whether the u.s. and china will really resume the type of communication they ought to be having brickwork scott kennedy senior advisor of the center for strategic and international studies printing follow him on twitter@candy csis sensor bring it down for us. ♪ c-span is your unfiltered view of government. funded by these television companies and more. including media. >> the world change in an instant. but media, was ready internet traffic sword and we never slowed down. schools and businesses when the virtual and we powered a new reality because at media come we are built to keep you ahead. >> media, support c-span as a public service along with these other television providers. giving you a front receipt to democracy

china. the threat of the u.s. china tech decoupling.o you navigate that and still find opportunities? how do you adjust the way you look at the landscape now? gary: it is pretty natural that you have some reset. you look at the amount of capital that went into the market between 2010 and 2020 and it was a staggering amount of capital. now many firms and countries are having to work through that capital. ftx being a good example of things that probably should not have been funded to the extent it was. in china we are seeing the entrepreneurial energy has not abated at all. so the energy in the start of community is still very strong. that does not require as much capital as a later stage crossover deals which absorbed a great deal in larger crossover funds. the numbers are naturally coming down but we have not seen a decrease in activity at that early stage, the real innovative level of venture-capital. shery: the chinese entrepreneurial tech energy has remain unabated, because you see the examples of jack ma, the restructuring of these

u.s.-china relatnship going forward?: the is a pivot in china's foreign policy toward europe because they see that as an alternativsource in excess to things they can no longer get from the united states. nick: thank you very much both. ♪ judy: lawmakers return to capitol hill this week after a drawn out midterm battle for power in congress. democrats have retained control of the upper chamber but a georgia runoff will determine if they gain a seat or return to a split-down-the-middle 50/50 senate. the balance of power in the lower chamber is pending as several house races are still being counted. the election outcomes and the lack of final results have put several key leadership issues in flux for republicans. lisa desjardins has more on all this. hello to you, lisa. you are at the capitol. let's talk about the house balance of power. we don't have all the results in. where do things stand and what are you watching? lisa: what a plot line in congress. let's look at where the races are for the house of representatives. t

u.s. has been leading the brigade to take a hard stance against russia china has taken a more neutral view today >> they certainly have you know, in the first face-to-face meeting, what takes joe biden met up with other leaders and announced investment in indonesia does that focus and move through to this? they will speak about the pandemic which is affecting china significantly. manufacturing taking quite a bit of a hit, nfortunately, for them the investment that joe biden did announce then as well in indonesia and nofollowing that summit there they are describing the critical partner and discussion of climate and food insecurity and including a $2.5 billion carbon capture agreement with exxonmobil and energy company. very interesting then that you can tell the corporation with the far east is in place and ensuring the conversation goes the way both parties will be happy with it is, as i keep saying, reset meeting. they want to try to get the conversation back on point here. the last discussion was in september. at that point, joe biden drew a hard line there having said that they would n

biden the world expects china and the u.s. to play key roles in addressing global challenges such as climate change, food insecurity, and for us to be able to work together. amy: the united states and china work together from taiwan to the war in ukraine to the climate crisis. all that and more coming up. ♪ welcome to democracy now, democracynow.org, the war and peace report. i'm amy goodman. we are broadcasting from the u.n. climate summit in sharm el shaikh, egypt. democrats have held onto the u.s. senate after incumbents mark kelly of arizona and nevada's catherine cortez masto won their midterm races over the weekend. if senator raphael warnock beats republican challenger herschel walker in georgia's december 6 ruff, democrats will expand their majority with 51 total senate seats, meaning they may not need to rely on vice president kamala harris to break a tie, and can afford to lose a single vote when confirming executive and judicial nominees, or passing certain measures through reconciliation. control of the house is sti

u.s. is not promising to change any behaviors that irk beijing in china ''oe' change any behaviors that thejects to? bonnie: i share the skepticism. the structural conversation is what is important. china is arising power and the u.s. is threatened by chinese, particularly xi jinping's aspirations to become a leading power if not the leading power in the world. it is difficult t be overly optimistic about what can be achieved but it is a good thing that the leaders are talking. many countries around the world are looking to the u.s. and china to engage in more serious dialogue and to find ways to cooperate on issues like climate change and global health and macro economic policy because their failure to do so is detrimental to other countries in the world. nick: both sides have said other countries were looking to them to try and emphasize diplomacy over conflict. how much of that plays a part into at least what seems to be a public, mutual desire to avoid confrontation? yun: i think there are many reasons the u.s. and china want to avoid confrontation. i think by default, the two countries

this technology is something china needs to advance their technology and military space. you have to think that the u.sdoes want to make sure that there is global growth around the world and countries are moving towards a recession and china is with the united states, the two biggest economies and then growing keeps the rest of the world growing. john: helpful context as always. annmarie hordern joining us from valley --bali. we want to put it together for the broader economy store. -- story. joining us -- we have a whole soup to digest you have a message from fed officials that there might be some slowing of higher rates but we are not done of rates going up and as, reading -- as an recorder and was talking about, there are global recession concerns. what is your global take on where the economy is heading? >> on the growth story, it is a subpar below potential extended period of weak growth. the most interesting question for markets and investors is what is going on with inflation and i think the data we got last week and we have, in terms of leading indicators of inflation, a lot of supporting evide

what does china mean as -- four the global economy? what should u.s. sses be engaging with china at all of course? host: we know that relations between the u.s. and china are at their lowest in decades, we have a trade war, we have growing tension over taiwan, what is your sense of how bad this could get? guest: this is undoubtedly a major shift in what is arguably the most important geopolitical relationship of our age. the past four decades, president nixon onwards, the assumption of trade and engagement has defined global trade as we know it. trillions of dollars back and fortacross the pacific and trade, largely people were optimistic about it. this is a very significant moment. if you look at the way it was unraveling was unraveling very fast. donald trump, of course was the person that broke it, he ote an anti-china message all the way to the white house. his trade war that he launched against china is very much in place. joe biden has done almost nothing to walk bk that part of the policy. he has doubled down. in recent days the u.s. has imposed

u.s. and china.ssia's invasion of ukraine, flask, concerns over various north korean actions, and also china's actions toward taiwan. on taiwan, you might remember a couple months back, house speaker nancy pelosi visited taipei, she met with taiwan's that made her the highest-ranking american official in 25 years to visit taiwan. it has its own government but it is claimed by china. this was beijing's response at the time. major military exercises seen as some as a trial invasion of taiwan. they also halted dialogue channels including on climate change. looking at this is a doctor from the think tank chatham has. here are her thoughts about the meeting. >> what xi jinping is trying to do today and throughout this meeting is to cool the temperature on the likely military escalion on the sides. this does not just depend on beijing but also largely on washington, as well. given what has happened with russia's invasion of ukraine, beijing will think carefully. it does not want to leave itself in internat

china and the u.s.gree on anguish for a joint statement at the east asian summit in dash--- in cambodia. nascar refuses to describe ukraine as a war. it cast further doubt on any consensus reached in this week's summit in indonesia at the g20. >> this is an economic forum, so there are a lot of very tangible and concrete deliverables. on those particular paragraphs related to war, maybe there'll will be no agreement, but people still be trying. vonnie: g20 nations have raised $1.4 billion for a global pandemic health fund help avoid a repeat of the covid-19 outbreak. the world bank will manage the fund, aimed at low and middle-income countries. the fund has commitments from 20 countries as well as foundations such as the bill & melinda gates foundation, and the rockefeller foundation. sri lanka's government reveals its turn will budget on monday as it looks to federalize conditions for a imf loan. the third round of talks with lenders including india and china will begin on thursday, in line with the im

china. it essentially means he thinks the u.s. reat china as its equal and stay out of its internal affairs. now when it comes to cooperation, there are several areas the biden administration tried earnestly to increase cooperation on china including climate change, iran, things like counter narcotics, counter piracy. the problem is there's been little to no response on the chinese side. and you know, it's very easy to say that the u.s. and china should cooperate more, but it takes two to tango, christine. if there's no willingness on the chinese side to engage in, for example, just climate change talks, just for one example, then there's not much progress to be made. so, i think that's the real problem. >> and there are also logger heads at trade. the biden administration has not backed away from trump's tough trade policy on china and adding limits on exports of chips and chip technology. so the tension on trade between the two countries only intensified, right? >> well, that's right. but again it was not -- we shouldn't both sid

historically you look at china and the u.s. he only markets with critical mass of scale in early-stage venture capital. erie hard to replicate what china has created over the last 15 or 20 years. >> what are the new sectors for the next couple of years that will really drive innovation, that will drive some of those start ups and findings and optimism about the chinese economy? gary: therapy. the more personalized medicine area. china has a strong opportunity to be a world leader in that area. on the tech side, the material area. we are seeing the revitalization of the clean tech investing cycles in the u.s.. that is a very heavy material science benefit. china has strong opportunities there. but the biggest clear opportunity is software infrastructure. the entire software infrastructure in china needs to be re-hosted on a 20 first century platform and that is going to be a financial opportunity. if you look at the top hundred most valuable companies in the world only four of them are chinese. that has to change. rishaad: jb ven

u.s. and china are asking them to pick sides between the world's two biggest economies which carries a lot of risks both for the u.s. and china and for countries that are sort of forced to navigate between the two. haidi: the broader global economy -- you hear from the imf talking about the idea of the existing fragility could be pushed over the by the fracturing of these economies. in the lead up to these meetings the groundwork has been done but is their low hanging fruit? how do we manage expectations? >> there does not seem to be anything obvious at least from the u.s. side as we have heard in washington. i mean, there could be some using of trade tensions perhaps. but if you look at what has been done, where would either side back off now? that is not very evident. for example, one of the issues that has caused this taking sides problem is the u.s. trying to prevent china from getting access to chipmaking technology or high end chipmaking technology. not all of these companies are in the u.s., on the contrary, they are obviously in taiwan and also in europe. these are things where tho

the other big china narrative potentially shifting is icy u.s.-china relations. we will get more on that in a moment with stephen engle. that is allowing hong kong tech the past two days, now the rally has a stacked up to 7.2%. we are headed toward a technical bull market with the rally of 20% from lows, but it is still off a lot from highs. something like 40%. there is still a ways to go and it feels like the majority of the rally is coming from china stocks that have been sold off the most. maybe short covering, but regardless, euphoria spreading to u.s. markets, s&p 500 futures up 500% -- futures up 5%. it is driven by the china narrative, the u.s. narrative is not euphoria, it is one of inflation and trying to read the tea leaves from current fed speakers. what we have heard so far is curb your enthusiasm cpi report. you've got brainard yesterday saying it is appropriate to soon slow the rate of hikes, but we still have additional work to do. that additional work showing up on the u.s. 10 year yield, up about two basis points. pressure on the front end of the

relations and the first red line that must not be crossed in china-u.s. relations. to have delivered progress on u.s. priorities like china's human rights abuses or economic malpractice one bright spot. >> we discussed russia's aggression toward he ukraine, reaffirmed our share belief in the threat or use of nuclear weapons is totally unacceptable. >> strongest condemnation of russia's posture in ukraine we have heard from china albeit from biden's mouth the same kay biden's cia director bill burns turkey consequences if russia uses nuclear weapons in the first high level in person meeting since the invasion. in ukraine, president zelenskyy hailing russia's retreat from kherson as a sign. >> this is the beginning of the end of the war. >> one new promise, biden tried to elicit from xi reign in nuclear's nuclear aggression by framing it as a mutual interest and say going the trajectory continues the u.s. will have to step up its presence in the region and it would be, quote, in china's face. bret? >> bret: jacqui, meantime here at home, a federal appeals court dealin

u.s. and china, but what the rest of g20 will be. then, we will see down in the next few months whether the u.s. and china will really resume the communication they should be having. host: you can follow him on a very good monday morning to you. you can start calling in now. as we talked what do you like to see lead in the house and senate. phone lines for democrats, republicans and independents and as you do that we will take you to the current balance of power and the situation a lot more clear in the senate. democrats retaining this control of the senate with that 50 seat needed to retain control. there's one race the speaker pro tempore: we are keeping our o commitment to live coverage of the u.s. house. lawmakers considered 29 bills. also today, republican yack emto serve out the late congresswoman jackie walorski. unofficial results for the special election held november 8, 2022, the honorable rudolph "rudy" yak imiii was elected for the second congressional district state of indiana. signed sincerely, cheryl l. johnson, clerk.

u.s. curbs will be put on technology access by china. how much will ukraine -russian come to bear in this discussion? by all accounts, the narrative from the u.s. is shifting. that is for sure. i know a lot of people talk about war fatigue. will that come up? is that as important as taiwan? jonathan: i think taiwan is more important in this particular context of china-america. china is, i would guess, a little perturbed and embarrassed by what has happened in ukraine and it certainly doesn't want putin and whatever putin does in ukraine to leave chinese policy, particularly not its relationship with the united states. dani: domestically we have the unveiling of the 16 point plan to help rescue the property sector. we have seen these huge rallies, some property stocks by 50%. is this a game changer? jonathan: it is a game changer in the sense that having gone through the big party congress last month, where xi really nailed down his political power for the next five, 10 years, however long it may be, and he is now turning to the economy.

u.s. and china communicating.resident said he spoke to allies, or his team said he spoke to alice before coming into this meeting. so potentially president biden heard some of their concerns. jonathan: russia is at the epicenter of some of the conversations. can you talk about what has happened over the next 24 hours as there have been conflicting reports? annmarie: there was a report from the ap that sergei lavrov, who is here instead of president putin, who did not go to the g20 and rome and not attending the g 20 in bali, and he is representing the russian delegation. there was a report he is hospitalized. bloomberg news asked the foreign ministry if it was true, then he released a video statement showing himself sink the bloomberg news report is false. he released this statement video. he is working during it. we do not know exactly when this video was taken. no timestamp. so there have been conflicting reports on the ground in bali, the health of sergei lavrov, a critically important person because he is repr

idea that europe ultimately will have little choice but to step away from its relationship with china. the u.s insist on it. the biden administration making it clear the firm focus remains china. as we see that fragmentation, can you walk me through the ripple effects, the impact that will have? bilal: the biggest effect will be on germany itself. if you look at german trade with china, the germans export massively to china and also import a lot. to some extent, germany is quite embedded in the china global supply chain, so for them to extricate from china will be difficult. on top of that, more broadly across europe, the dutch produce imports for chips that go to china. italy is a big exporter of luxury goods to china, so it's hard for europe to extricate itself from that. that will be one very difficult challenge they have. the other side of this is on the energy side of the picture. what is interesting in europe is they are facing much higher energy costs. if you look at german industrial companies in particular, many of them are shifting production to china, where energy is cheaper. so whe

how does this affect u.s. china relations going forward? scott: i don't know how much bearing this has specifically on u.s. china relations, but u.s. officials have to tread carefully here. because they want to show support and express support for any kind of free and open protest, especially one that might signal a greater desire even for democracy that some people have been talking about, which is very rare. but the second u.s. officials step in and start saying how much they support it, china can latch onto those sorts of narratives and spin it as this is something that was cooked up by the u.s., start going to this conspiracy theory propaganda. so, that is something they have to tread very lightly, not just because they don't want to make the protesters look bad, but also because that could also really harm u.s. china relations , which are just starting to recover after the xi/biden meeting. ed: earlier i spoke to the cfo of a chipmaker that has a significant footprint in china. this is what he had to say about the situation. >> we have

u.s.-china relations. former attorney general bill barr talked about the direction the chinese president is taking the chinese country. he also noted the threat shiny -- china poses to taiwan and the indo pacific. it was hosted by the richard nixon foundation. ♪ two. i want to begin by recognizing that today is veterans day, along with the dedication of the vietnam veterans memorial on the national mall. we celebrate the service and remember the sacrifice of veterans all across our country today. in fact, at the nixon library in california, guests will be treated to an air show this afternoon, celebrating veterans in just a matter of hours to thank our veterans for their service. i would like to welcome back the members and boards of directors of the richard nixon foundation who joined us this morning. especially tricia nixon cox. the eldest daughter of president nixon. thank you for being here. [applause] the grand strategy summit kicked off last night with two national security advisor's taking the stage

and really creating headwinds for china the u.s. d maybe we can talk about this later needs to take advantage of it. but more importantly all of the main headwinds we can classify china facing demographic, productivity, xi jinping is not fundamentally addressing those. he is putting up band-aids on this pretty is more fixated on security and stability then he is on addressing the root critical fundamental issues that china is facing. so in summary i think this is where i do not quite know the road forward. if xi jinping continues on the course that he is on he will either keep china and the strategic cul-de-sac that it is now in. or i think more worryingly and tragically back to the future era sending this country headlong into a crisis. or one can imagine but probably have to hope for that he will recognize the headwinds china is now facing and course correct. i think that is unlikely. as an matt was saying we know who this guy is. he's been in power for ten years premium is priors, we know its assumptions, we know how he views the

u.s. and china.hat is the setting that the president will walk into later today. >> yeah, yeah, indeed. steven jiang, let's go to you now. the big aim for biden on this trip partially has been to reassure nations in the region that the u.s. is there for them, and to blunt china's growing influence. so what then is president xi's aim? what would he be wanting from the meeting? >> well, michael, i think xi jinping wants time. time for china to become self reliant in key technologies toe upgrade its economy, but probably more crucially, to upgrade its military to catch up with the u.s. in recent days that's why we've seen xi jinping offering a more conciliatory tone, telling a u.s. lobbying group he is working to work with the u.s. to find twice cooperate. there have also been signs or inhibits of china's possible tweaks on its stand in ukraine, telling the visiting german chancellor that china pose as threat and a use of nuclear weapons which many have seen as a rebuke to putin. it will be interesting

u.s.-china relations. former attorney general bill barr talked about the direction the chinese president is taking the communist country. he also noted the threat china poses to taiwan and the indo pacific. the discussion was hosted by the richard nixon foundation. begin by recognizing that today is veterans day, along with the dedication of the vietnam veterans memorial on the national mall. we celebrate the service and remember the sacrifice of veterans all across our country today. >> please, take your seats. my name is jim byron, i'm the president and ceo of the richard nixon foundation. welcome back to the grand strategy summit for day two. i want to begin by recognizing that today is veterans day, along with the dedication of the vietnam veterans memorial on the national mall. we celebrate the service and remember the sacrifice of veterans all across our country today. in fact, at the nixon library in california, guests will be treated to an air show this afternoon, celebrating veterans in just a mat

there are lots of geopolitics, they are big down in the south china sea. the u.s. is trying to counter china's moves in the indo pacific region through its more recent trade agreements with 13 indo pacific nations. that is something that the u.s. trade representative is here trying to pitch and we are going to get a speech later today from, harris -- from kamala harris. she is set to give a speech defending joe biden's stance against critics. that is how we stand right now. the first day of the leader summit. >> xi jinping and others meeting. what is expected to be the result of that? they have been far apart and countries are nervous about china's rising power looking to potential military aggression, etc.. where do you think xi jinping stands on the and how is it going to go between these two leaders? stephen: there are legacy issues dating back to world war ii between china and japan. japan is a staunch ally of the u.s.. it's a close issue to japan. there are legacy issues. xi jinping and kishida met yesterday. essentially, both sides agree to work out their diff

trying to figure out how to manage the china and u.s. tionship and keep that competition they don't want to devolve into conflict. >> as leaders of our two nations we share responsibility, in my view, to show that china and the united states can manage our differences, prevent competition from being abouting anything near a conflict and to find ways to work together on urgent global issues that require our mutual cooperation. >> >> pete: two of those urgent global issues, the way the president sees things, climate change and potential chinese takeover of taiwan which experts say poses a national security threat to the u.s. >> the president has never been afraid to be forthright and candid with leaders around the world. that is not something that he struggles with he will as he has been with president xi in the past he will be candid and forthright today. >> pete: this is a two-way street and xi is going to have a chance to air his grievances with the u.s. in. >> this time and age, great changes are unfolding like never before. humanity ar

president, to bring china-u.s.ions back to the track of healthy and stable growth. >> after the meeting, biden tells the press -- >> i do not think there's any imminent attempt on the part of china to invade taiwan. >> reporter: but despite the optimistic tone an smiles, the possibility of armed conflict still looms. xi just days before wearing camouflage uniform at a military command center in beijing telling china's army to prepare for war. his visit met with excited applause from top military officials. beijing has stepped up pressure on self-ruled democratic taiwan after house speaker nancy pelosi visited the island in august firing repeat the missiles and encircling taiwan in a practice block aid. she vowing to reunify the island that china sees as a breakaway province using force if necessary. yes, we have a commitment to do that. meanwhile biden infuriating beijing with his repeated comments that america would come to taiwan's aid in the event of a chinese invasion. washington promises to brief taiwanese off

u.s. gdp. china overtook the u.s. in 2014.ven with a slow growth rate, it has some chance of catching up with the u.s. on a daily basis in the next 10 or 20 years. i don't think it will because i think the problems that we are talking about will ultimately drag the chinese system down. you telling me that joe biden is round ringgit -- ronald reagan? the nixon administration doesn't [indiscernible] carry out the foreign policy around reagan. if anything, it is the carter administration with dementia. [laughter] mr. byron: who are encouraging a quite weak administration which has completely bungled its middle eastern policy, failed to deter biden -- putin last year , made a complete mess of the amendment of afghanistan. we should play hardball with all of our adversaries? it seems to be a much riskier strategy that you are implying than the one i am lying, which is avoid a showdown at this point of weakness and wait until president d santos is in position to address this problem in his second term. [applause] mr. byron: you want

u.s.-china relations. matt is a distinguished visiting fellow at the hoover institution at the foundation for the defense of democracies. he served as deputy national security advisor from 2019 to 2021. and margaret hoover, author and host of "firing line" on pbs, now also with cnn, will moderate this morning's discussion. she is the great-granddaughter of herbert hoover, the 31st president of the united states. would you please welcome our distinguished panel this morning? [applause] >> good morning. it works. welcome mat and attorney general barr, and thank you very much to the nixon presidential foundation for having us here and having this really important discussion with incredibly well-informed experts, frankly, on this dynamic. i think the place to start is where we are right now and how we got here. when xi jinping came onto the national scene, the international scene, about a decade ago, many in the west expected that he would be a reformer. he would harken back to the nixon days of the opening of

relations and the first red line that must not be crossed in china-u.s. , and cross straight peace and stability and taiwan independence are as irreconcilable as water and fire. from that, we can surmise that biden likely did not make any warnings about u.s. military intervention, because every time he has said something like that in the recent months, the chinese have strongly responded and the white house had to walk it back as not a change in u.s. policy. we're not seeing of that kind of language right now but it does seem that some progress might have been made on biden's goal to ramp up pressure on putin who did not attend the g 20. biden claiming he and xi agreed use of nuclear weapons is unacceptable and that is the strongest condemnation of russia's posture we've heard from china albeit from biden's mouth. they also talked about collaborating to counter north korea's nuclear threat. >> it's difficult to say that i am certain that china can control north korea number one. number two, i made it clear to xi-jinping that i thought they had an obligatio

u.s. calls unfair trade practices by china. it also has this whole set of issues the u.s.ants to cooperate on. you hear about climate change, and of course north korea. the president will want to talk to xi about how to use his influence in pyongyang to try and convince the leader, kim jong-un, to back away from a nuclear program. now, i do think it's significant to note that this meeting is taking place in bali here in neutral ground on the sidelines of an international summit. it wasn't that long ago that it was fairly common for an american president to go to beijing, for the chinese president to come to the white house. i've covered several of those meetings. now it's almost unimaginable for that to happen now. so they do have to meet sort of in a neutral zone. u.s. officials, chinese officials, long ago identified this summit as the best place for that to happen. in addition to this being their first face-to-face meeting since biden took office, it's also one of the first times that president xi has left china since the covid pandemic. and how american officials view

china and u.s. gdp is up to 70%, the china stock market cap to the u.s. is less than a quarter. you need to look at both economies, a view on reopening in china, and on the u.s. going into recession. but when it comes to policy, we don't care that much about chinese policy except what it does to the economy. in terms of financial flows, there is only one relevant market, deglobalization of the world -- the globalization of the world is still all about the u.s. francine: mark cudmore can do any chart we ask him. joining us is chris watling, chief executive officer and market strategist at longview economics. what is the market looking at today? chris: the market today is a bit perky, isn't it? a good run until the close. we are coming to the end of what has been a market rally. a strong run since late september. you remember the pension fund debacle. now they are getting more confident as they often do towards the end of market rallies. the risk appetite models have obviously gone from fearful to now quite greedy. tom: you are underweight on a technical basis equities, what is the

china and chinese officials. a little red on the board to start the week, but it was actually the u.s.china adrs that did better, outperformed. looking at the golden dragon china index. on camera, there is a warming of relationships. going into this meeting, we were super focused on semiconductors, a lot of policy action is from the u.s. is focused on curbing technology experts, chip exports to china. now, off-camera, we actually got a blunt statement from the chinese ministry referring to existing u.s. policy that starting a trade war or technology war is not what china wants to be doing. not being in the best interests of the economy. even though we had a public show of affection between the two nations, there is a lot of concern here about what the u.s. is doing to curb technology exports to china. and the tech sector have been hit. it is the clear global laggard. it really lags behind tech stocks not just in the united states, november has been but in europe as well. november has beennovember has been better, a big part of that being the easing of covid policy in china. the issue a

first part, china remains suspicious of u.s. intentions. it believes washington is using its influence to constrain china from becoming a truly global superpower. they are pursuing agendas that may or may not turn them into superpower adversaries. anchor: the summit is now officially getting underway. let's speak to our diplomatic editor. reporter: there are big divisions with regard to the situation in ukraine. there is one here that has a very different view from everyone else, president putin is not the leader of the russian federation. sergio lavrov is representing russia, very unlikely in a final communique that will satisfy all including russia because other members would like strong condemnation. the u.s. and their allies would like tough condemnation of russia. i don't think china would like that tough language, but he certainly would not go as far as russia. as we see the leaders arriving a short distance away at the hotel, they will continue to come here for the next 90 minutes, the last one to arrive. there are other issues on the

u.s. policy the starting a trade or technology war is not what china wants to be doing. n the best interests of the economy. even though we had a public show of affection between the two nations, there is concern about what the u.s. is doing to curb exports to china. the tech sector has been hit. it's a clear global laggard. it lacks behind tech stocks not just in the united states putting in europe as well. november has been better, a big part being the easing of covid easing policy in china. the issue around curbing chip technology to the united states is top of mind when it comes to the relationship. even if the macro or economic picture is improving slightly. caroline: well put. let's go more broad with that relationship. they met for about three hours and agreed on a series of goodwill gestures, that there were still some areas of disagreement. >> i made it clear to president xi jinping that they had an obligation to attempt to make it clear to north korea that they should not engage in long-range nuclear test. that means they would be taking defensive actions and no

juliette saly is on hand to talk about the reopening trade in china. u.s. job openings are reevaluating. also, adding pressure on the fed to extend their aggressive campaign to curb inflation. let's get more with enda curran. it is what happens after today. this data like yesterday give us any clue on whether this narrative has any credence? enda: it would make things difficult for jay powell. this is locked in. they may be willing to slow the rate of hikes. or will mr. powell double down and send a hawkish message? there is a big debate going on in the background. they believe it would be a mistake if they did shift gears. a key point to remember is that whatever happens tomorrow, it is not nearing the end. it will be about what pace the rate hikes are going for. they are not stopping them. we are just looking at the pace in months ahead. dani: that is a good point. that is a difficult needle to thread. the market has the potential to be dovish. enda curran in hong kong, thank you. we will have coverage of the rate decision right here on bloomberg. traders

security and economic interests, united state should work with china both to resolve differences china- u.sg20 summit's stated goal of achieving world economic stability . and china has such a fractured economy with two sets of roles two dominant currencies two internets two conflicting approaches to artificial intelligence. intelligence will undermine the world's ability to respond to the terrible challenges we now face to help. discussion of global problems of our time, the world leader will be 20.000 members, delegations and experts. they will be accommodated in 24 hotels in the area. summit has already become one of the most protected areas on the planet. the security of high-ranking delegations is provided by more than 18,000 military and police personnel 12 warships dozens of fighters and helicopters anton former ceo of the ftx cryptocurrency exchange sam bentman freed was interrogated by police in the bahamas , according to some reports, he was detained while trying to escape to dubai after the sudden bankruptcy of ftx group this scandal is one of the most high-profile in the industr

and then you have the china military influence with dozens more warships than the united states. so really the u.sndo-pacific is being challenged for the first time in more than 70 years. and you heard president biden mention the south china sea. and myanmar as well. he will also talk about north korea. but really it is the china influence that will be top of the agenda. he wants to know what key u.s. allies are hoping what will come out of that meeting. not any concrete deliverables expected, but certainly a time for a face-to-face interaction between the two leaders of the two biggest millest militaries the world when they very much need to talk. >> will ripley, thank you so much.world when they very much to talk. >> will ripley, thank you so much.hen they very much need to talk. >> will ripley, thank you so much. >> for more analysis, we're joined by aaron connelly, a senior fellow for southeast asian asian politics. he is joins us from oslo. sir, thank you so much for joining us. i don't know if you had the opportunity to listen to mr. biden's opening address at the asean there just moments as

what is the u.s. china relationship? what is the u.s. russia relationship? what is the u.s.elationship with saudi arabia? ok, that matters, but equally it matters how they are interacting with one another and how those relationships are changing. what does it mean that xi jinping went to his pakistan and asserted dominance over wide swaths of central asia. historically russian dominion. what does it mean that you have nations voting against the united nations, terrible institution, we should probably get rid of it. that didn't get a laugh line from the audience? thank you. you know, this is important. and we need to start speaking in these terms because the russia china relationship, is this a new block that is beginning to form? china has a policy called the dual circulation policy as we discussed earlier today, where effectively, they want to create a new, separate market dominated by them largely in china. but maybe that is what the road is about. they are anticipating the day that all u.s. investment pulls out in china or is kicked out of china. then they will have russi

u.s. is viewing the china visit. guest: the u.s. is watching this with a critical eye. ere was talk of a very intense exchange that would be had on the issue of china. the company that is investing in germany's hamburg hub at the moment is also investing in many american harbors. at the same time, the united states with its large economy and other trading partners really wants to see the strategic partners remain on board when it comes to potentially isolating china. i just wanted to read out what german chancellor scholz said. he said, "china remains an important trading and business partner for germany and europe. we don't want to decouple from it." but u.s. policy on china speaks of abusive and coercive purchases in the treating space. somewhere in between, the u.s. and its partners are trying to find a, nine on china, with both deeply invested in huge trade volumes in the u.s., more than 500 billion dollars. in the case of germany, more than $250 billion or euros, whatever you like. both cannot get away from china and they are grappling with how to deal with it. nico

china. the meeting comes amid global tensions and competition between the u.s. and china. washington correspondent hannah brandt explaining what the 2 presidents are expected to talk about morning. anna. in a good morning. >> this is expected to be a really wide ranging meeting between these 2 leaders. and there are several contentious issues that president biden says he plans to address. >> on the sidelines of the g 20 summit in indonesia, president biden is meeting with chinese president xi jinping know asked for more time than any other world leader and doing well. you know me. but this is their first in-person meeting since president biden took office 2 years ago. this meeting is is extremely important. there just is no substitute for this kind of leader to leader communication. >> in navigating managing such a consequential relationship. the 2 leaders will have a lot to discuss. president biden has said he plans to address trade practices between the u.s. and china. >> and china's close relationship with russia amid their war with ukraine. but the most contentious poi

u.s. and china?n't be surprised if it comes up again, and it is always kind of their is a little nettle. but i do think they offer an opportunity for international leaders to come together when they don't have to set up a specific bilateral meeting with all the pressures that come from a bilateral meeting in terms of being able to produce results. especially in these opportunities to soften back into a diplomatic way to engage through dialogue, leaders an opportunity to tiptoe back into these relationships. i've seen some positive moves for both china and the united states, and of course of china and the united states get along, it is a positive move for the world, economically and politically and from a security perspective. everybody watching this should be pleased with the positive messages that are coming out, while at the same time not being naive that this relationship is going to turn into something very warm. the united states is a global power and they will continue to compete probably on th