chinese. [ speaking chinese ] there are three businesses. restaurant business, lndry business, game willing business. those are the only thing businesses chinese can participate in after the exclusion law. >> what did your family do? >> the other thing was to be a merchant in chinatown. my grandfather became friends with walter huhs. my grandfather u.s. citizen, he could travel back and forth, he was the agent to the haas brothers. a family, represents a clan, because in the event the pro-pry terri -- he was a merchant. he was here in the 1860s. his son was born in 1878 before the exclusion law and other children born in san francisco. they were american citizens. because of this anti-chinese feeling and the law against chinese laborer and the fact in 1882, the law stipulated that hereafter no chinese is allowed naturalization to u.s. citizenship. this has been the biggest cloud in all of american -- chinese-american society. >> yu family prospered. >> it shows that my grandfather and his colleagues, were on equal footing with the white busi

part of the chinese corp. world as well direct agencies of the chinese government to engage in a to duct a campaign over covertly and overtly, subject subverting bribing, existing espionage and the rest we knew about for purposes of destroying competitors, gaining control of the financial system, influencing the policy of key corporation. do you just think -- is it your agreement with him you think this is not happening on this or is isn't happening like this on the scale or you don't think it matter. you're -- the testimony and testimony sail by each other. i'm trying to recognincile it. >> so let me start with saying i do fundamentally disagree with mr. johnson view china state has masser plan to send it's companies oversees and acquire specific assets. there are instances in which there's concrete evidence i can see for a nexus and i think we mentioned dedicate -- we did a case study on semiconductor where i think there's clear evidence we can bpin down to mae those connection, i'm not aware of the case mr.

the chinese exclusion act was enforced. the chinese population shrunk down to maybe 80,000. world war ii, the u.s. was an ally of china. it didn't seem right that an ally would prohibit the citizens of an ally to become -- to immigrate or to become citizens. there was a repeal of the exclusion act in 1943. >> very interesting. like the japanese american experience where japanese americans by participating sort of proved their loyalty to a lot of people during that time. interesting parallel. what about the civil rights movement? 1965, i believe, the immigration act and things like that. that's also a big part of the exhibit, right? >> well, as a result of the -- along with the civil rights act, lbj, president johnson, signed an immigration and naturalization act. and that act listed the quotas for immigrants from countries all over the world. and so that law allowed chinese families to reunite. and opened the gate, if you will, for immigration of asians from asia. >> steve, do you feel as though there's a real need to put this out there on a more broader basis, for more peop

the chinese -- this is the chinese view. this is a chinese propaganda poster from the 1960's. firmly support the asian african, latin american people anti-imperialist rivals. this is a picture of them uniting to fight imperials. this is the chinese version of anti-colonialism. said the soviets were using peaceful coexistence. as a wayotion of peace of maintaining white power in the world. the soviets are fundamentally a white imperialist country. they are industrialized. they will always prioritize the interest of the europeans and the americans over the developing world. they are betraying the postcolonial world. the only way the post world will be free is by fighting for their freedom. this is the chinese story. algeria is a good example. algeria is kind of the best case of fighting for your freedom. an actual war against the colonial power that is successful. the soviets do not support the liberation front of algeria. they do not recognize the algerian government. the reason is is that they were afraid of supporting the government would support the communist party in paris.

companies, chinese capital. there's a lot of educational effort at the home happening. to risk assessment, i believe that there are a lot of things that are different for chinese companies and i think probably the most important thing is understanding some of the political risks on the chinese side. that's very different from an open-market economy in europe or asia, the rest of asia and that partially goes back to question of to what extent the government controls flows and the chinese government has -- over the last couple of months retightened some of its investment policy so they're not -- we are not the only ones who are nervous about that increase of chinese. beijing is very much anxious that some have gotten too large and cracking down on some of the more financial nature flows that we are seeing in the channel. the ability of actually sticking to investment commitments, the chinese company announces transaction and we have a bunch of cases currently, one big battery factory in nevada, for example, where

investments in chinese agriculture. he received his bachelors degree and testified before us on food safety i recall. and finally, mr. patrick genovine, the ceo of tank energy group, active clean energy investor in china for over 20er years. mr. genovine formed tank in 1986 to own, operate are and deliver systems in china and since then, a leading u.s. entrepreneur abroad. in 2010, tank was awarded the corporate award for global excellence which recognizes the important role american businesses play abroad. he sis a member of the council n foreign relations and earned the b.a. from davidson college in davidson, north carolina. thank you all for being here today. each witness will have 7:00 to deliver his oral statement. your written statement will be entered into the record, and dr. atkinson, we will begin with you. >> well, thank you, chairman wetzel. it is a pleasure to be here and pleasure to be here again to testify before you on this important question. i don't think that there is any doubt that chinese fdi into ou

the chinese -- so this is the chinese view. this is a chinese propaganda poster from the 1960's. the bottom says [speaking chinese], which means firmly support the asian african, latin american people anti-imperialist rivals. this is a picture of asia and america uniting with guns in their hands fighting imperials. this is the chinese version of anti-colonialism. the chinese said that the soviets basically were using peaceful coexistence. this promotion of peace, coexistence with the west, as a main -- way of maintaining white power in the world. the soviets are fundamentally a white imperialist country. they are an industrialized country. they will always prioritize the interests of europeans and americans over the developing world. so there really betraying the postcolonial world. the only way the postcolonial world will ever be free is by fighting for their freedom. this is the chinese story. algeria is a perfect example. i will talk more about this later, but algeria is kind of the best case of fighting for your freedom an actual war , against the colonial power that is succe

to say it's chinese companies. i like your view on that. otherwise, i'm going to wait as far as mr. johnson and mr. hanman to hear what some other people say in maybe a second round. but i like your answer to that. and one of the reasons is, we make recommendations to the congress in our report, and this would seem to me to be a subject we ought to explore and possibly make a recommendation on. >> well, thank you, senator. let me clarify something, because the sovereign immunity, since it's something that belongs uniquely to sovereign is unusual in terms of subject matter jurisdiction in that it can be waived by the party. and that's recognized. so there is no reason why, if i were doing business with a chinese company, and didn't know its ownership situation, i would try to protect myself and get a waiver contractually. that would be effective to create subject matter jurisdiction. in other context, of course, parties can't create such better jurisdiction. it either exists or it doesn't. but this is a unique aspec

-listed chinese companies. china, however, quickly blocked the sec from doing inspectiones this china. arguing that to allow such inspections might result in the disclosure of state secrets and it also would impinge upon china's national sovereignty. china instead insisted that sec or pcob offer regulatory equivalency, that is to accept the work of the chinese regulators as if it were its own. the european union has accepted regulatory equivalency with respect to audits of chinese companies, but the cob has been unwilling to reach that. my recommendations are, that the law, that being czar are baines oxley aught to be amended. to go one of two ways. either to allow for regulatory equivalency and get the chinese to agree on an allowance of expecting inspectors to make sure the chinese actually do what they are required to do. i'm kept cal that chinese have much interest in inspecting overseas listed companies. or alternatively they could terminate the registration of accounting firms that they are unable to insp

there are a million chinese farmers. this happened after smith field changed hands at the same time we had an outbreak of hog virus. it can also disadvantage farm supports. now 97% are from smithfield. that disadvantages all of the other people exporting. china is in a position but they also have an incentive to favor the crops. food security is a really key component of national security. it is really important. in the 2008 food crisis more than 30 countries face civil instability right now china owns 8 million more, so the next time there's a supply interruption it is likely to be exacerbated. i think lots of people believe that an army marchs on its stomach. there is widespread understanding this is an issue. whether or not food is a critical infrastructure is at odds. it's not a situation where we are talking about something like retirement homes. food is something that is for military and civilians as well. they are allowed to review -- they have a broad discretion but today they have not done it. both the mergers w

the chinese. america will not allow japan to play a role in taiwan's defense. >> doctor revealed this of kissenger. that's when it was first made public. >> several comments. the first, science and technology, i recommended creates some form of technology containment against china. that's our concern. usa is so kind to provide the vital technology and science information to china. so that's really against our policy and if u.s. is serious about thinking china as a future potential threat i think it's time for two nations, japan, u.s., to discuss and create? form of technology containment against china. without that we would lose the race. that's one thing. and the seconds, of course keeping the u.s. forces in our area. costs associated and heavy sweat and labor associated. but for china of course still largest obstacle and threat has been the u.s. navy and the air force and the marines. and will be so in the future. so if this is the reality, by all cost japan and the u.s. has to develop. and one

the chinese market is not a real stock market.t's not connected to fundamentals, either profits or the economy. because no one knows what the proper level is, it's a casino. >> chinese stocks in a bear market for the second time in seven months. down 20% from the december high. >> my take on china is china has a serious challenge and set of challenges to convert from exports and construction stimulated by easy money to domestic consumption of goods and services. so, yes, it is a serious problem, but is it something easily surmounted or is it a disaster? people have gone from the first to the second. ♪ angie: january's worst-case scenario did not come to pass. but throughout the year, the financial world kept a close eye on economic data coming out of china. let's take a look back at some of the most significant numbers. ♪ >> a day of dramatic headlines with china dominating the news. the pboc governor broke his long silence. what did he say and what was significant about it? >> his key message is we are not going to push the curre

[laughter] [applause] so the chinese celebrate the chinese new year. around this time people visit their relatives and friends. into say greetings to the overall world. >> it was the best of times it was the of worst of times these are the words used by a dickens and on the of one hand of science and technology followed as never before on the other hand however those challenges like terrorism and refugee and unemployment have added to the uncertainties of the of world. many people are wondering what has gone wrong with the of world? but some people blame economic globalization. and the chaos in the world. with uh globalization founded by a highly bob the and the arabian nights. but now to become the pandora's box the international community and to wish to address the economy and economic globalization. so the point i will at to make because the ways of north africa for several million people and small children have lost their lives while crossing the sea and is heartbreaking to was. that is the turbulence that has created this problem. to make peace an

chinese companies have made over 50 billion u.s.ollars in investment and launched ad number of major project, spurring the economic develop of the countries and creating many local jobs. the initiative originated in china. in may this year, china will host in beijing the belt and road forum for international corporation. which aims to discuss ways to boost corporation, build a corporation platforms and share corporation outcomes. the forum will expose ways to address problems facing global region economy, create fresh energy for pursuing develop and make belt road better involved. ladies and gentlemen, world history shows that a road of human civiluation has efr been a both one that mankind has made project by surmounting difficulties. no difficult however daunting will stop mankind from advancing. when enkouner difficulties we should not blame others or run away from spolresponsibilities instead join hands and rise to the challenge. history is kralted by the brave. let us boost confidence, take action and work together for a bright

[applause] [speaking chinese] >> translator: as you know, the chinese will celebrate the lunar chinese new year. around this time, in china, people visit their relatives and friends. and this way they will strengthen their bond and friendship. so this time, my wife and i and the delegation, two calm tuesday new year greetings to send their land and the whole world. [applause] it was the best of times. it was the worst of times. these are the words used by charles dickens to describe the world after the industrial revolution. today we also live in a world of contradiction. i'm the one hand, with growing material well in advance is in science and technology, human civilization has developed as never before. on the other hand, however, frequent region of conflict with challenges like terrorism and refugee, as well as poverty and employment in the widening and i'm been have all added to the uncertainties of the world. many people are wondering what has gone wrong with our world. to answer this question, one must first track the source of the problem. some people blame economic globalizatio

as you know, two days time, the chinese celebrate the lunar chinese new year. around this time it is in china, people visit their relatives and friends. and the bond of friendship, this time my wife and i and other members of the delegation come to doorposts --davos to send new year's greetings to switzerland and the whole world. it was the best of times, it was the worst of times. these are the words used by charles dickens to describe the world after the industrial revolution. today, we also live in a world of contradictions. on the one hand, we are growing material wealth, advancements in science and technology, human civilization has developed as never before. on the other hand, frequent regional conflicts, global challenges like terrorism and refugees as well as poverty, unemployment and widening income gap have all added to the uncertainties of the world. many people are wondering what has gone wrong with our world? to answer this question, one must first track the source of the problem. some people blame economic globalization for the chaos in our world.

the chinese super league is only 13 yea rs the chinese super league is only 13 years old, the standardhese players perhaps a word on the european market because they want to have these european players in their league two up european players in their league two up the standard. the game is worth a lot of money there. the tv rights are huge, $250 million for those. attendance is going up. this is a booming market for them, but the chinese football association says it has to stop. they have called it irrational spending. they are taking it from five foreign players allowed ina it from five foreign players allowed in a match day came down to three. interestingly, they are also saying in those teams, they must be to chinese players who are under 23, one of which must start that game. the game they have been picked for. not only are they trying to pull themselves away from this fascination, addiction, to foreign stars, they are trying to foster an interest in home—grown talent. it is interesting, because that is what leads across europe have been trying to do for some time now. they suddenl

inclusion act and in further entitlements at chinese and korean students and whereas the asian-american figure out discriminates in the 1818 successfully challenged other chinese children and whereas shortly after following the case in the same year sunbathed schools were approved by the assembly bill for children with their migration of white children and led to the segregation the white school and legal challenges with the so 02 walling even callahan they petitioned for his 12-year-old daughter to attend the public school on al gore student instead of the segregated oriental school and whereas the city lay in ruins with the aftermath of the 1906 san francisco earthquake the policy passed restricting children of china's and japanese and corp. to the oriental school and when the same year the board of education decided to the oak family that protested the perusal to immoral the 12-year-old child the james government lodged a formal complaint with the u.s. ambassador that was a violation of the 1894 japanese treated of the non- school policy for japanese immigrants to the u.s. those acti

the chinese currency from devaluing? is it working already? the effortsabout they taken on state owned enterprises. is that building the momentum in keeping that number away from the market as we approach the lunar new year at the end of the month? we have gold in there as well, up by around 1% today. people getting out of the dollar and into gold overnight. recovering from the quarterly slump we saw in the fourth quarter after the victory of donald trump. manus: this is one of those that will play out for the rest of the year. by with theanding bloomberg first word. >> for the latest fed minutes, they show donald trump's land may force rate hikes at a faster pace. policymakers on increase in the upside risk to the growth forecast and many worry they will have to quicken the pace to head off inflation. the next session will start at the end of this month. donald trump has picked a wall street insider to be his top regulator, despite railing against the industry on the campaign trail. clayton has represented financial fir

one, to see exactly what the chinese are doing, and two, to test to see if the chinese would try to stopole of this area is, according to most countries, international airspace. just 140 nautical miles from the philippine coast, we spot new land. this place is called mischief reef. until a year ago, there was nothing here, just a submerged atoll. now look at it. millions of tons of material have been dredged up to build this huge new island. then as we close to 12 nautical miles, this. down below, we can see a pair of chinese navy ships. our pilots are nervous. they want to turn away. we're a civilian aircraft flying over international waters and yet we're being repeatedly threatened. so what we're getting is the chinese sending out that message, foreign military aircraft, unidentified military aircraft, leave the area immediately. in chinese and english, our captain replied saying we are a civilian aircraft, not a military aircraft, but it didn't make any difference, they repeated the threat to leave the area over and over again. as we fly on, the full extent of the construction is reve

now, in this region it was the chinese markets that actually ended up chinese markets that actually endedunderperforming in 2016, while thailand's stock exchange was the standout, closing at around 20% higher despite economic uncertainty there. now, most markets are reopening for the new year today. so what should we expect, and where should we put our money in 2017? earlier i spoke to mike mccarthy of cmc markets in sydney and asked whether we will see the us rally this year. certainly in the short term that seems likely and ahead of the inauguration in january term that seems likely and ahead of the inauguration injanuary it looks like markets are likely take a positive trajectory. they have been very cautious although we saw some enthusiasm and buying toward the year end. last day of trading was a bit of a visit for most markets and that restrained positioning gives us confidence that we will hold ground 01’ confidence that we will hold ground or go ahead in the short term. longer term, potentialfor or go ahead in the short term. longer term, potential for policy changes in the us are

i talking about the chinese zodiac.g to astrologers to thousand 710 will be of revolution, destruction and change. but white? every year, the two elements. the brewster is a metal element, fire is metal so... clashing. what is positive about the rooster? the fayed part, ithink. it represents positive about the rooster? the fayed part, i think. it represents a i°y fayed part, i think. it represents a joy and optimism so we could see a kind of optimistic five for the first half of the year but when you consider both elements together, it isa consider both elements together, it is a clashing relationship according to the fire element theory. you add that to the current soup of global world affairs and it is not quite a nice picture. there are basically twirled zodiac elements. who would the rooster team up with the best?‘ good friend of the rooster is that the dragon and the other two trends and allies are the ox and the snake. these are... what we say for annual lark. they come out and enjoy alliances. so much uncertainty

exporters out of the chinese market.e have a chart that shows this comes at a pretty painful time for the biofuel industry in the u.s., particularly the producers of this tried to sellers grain. they have seen the prices fall since june of 2016. particularly bad timing for them . we have seen blocked imports of stuff as well. increased trade tensions. there is nothing on material between china and the u.s.. what are the water indications when it comes to u.s. -- wider indications when it comes to u.s. agriculture if this continues to deteriorate? tom: to give you an idea how important china is for u.s. agriculture, iticked up 200% in the last decade. value, that was around 20.2 u.s. billion dollars by the end of 2015. some of the biggest imports since things like soybeans, maize, animal hies. could be inflicted, because china is looking at increasing tariffs on ethanol to 30%. little wonder that the biofuel industry will be pressuring trump to take action on this to his chinese counterparts to an area of contention. this

a weakening chinese economy and a weakening chinese economy and a weakening chinese currency.be under great pains to tell the world that they should have confidence in china's economy and that they will play an important and responsible role on the world stage. this is how the chinese currency has fared. there is a battle between market forces and what the chinese central bank has been trying to do. the chinese currency has really weekend against the us dollar because market forces are trying to push the currency lower. at the same time, the people's bank is trying to strengthen the currency because a wea k strengthen the currency because a weak currency, though good for experts, is bad for the confidence of the economy and we have seen millions, if not billions of dollars poured out because of concerned citizens. one of the biggest themes will be growing inequality which may be growing even further. 0xfam claims a be growing even further. 0xfam claimsa group be growing even further. 0xfam claims a group of men they can fit into one golf buggy on the same wealth as half the wo

so it is eye—watering, and the chinese fa want it to stop. i think anybody of sane mind would probably say the same thing. the chinese super league is only 13 years old, the standard of which isn't that high, is spending way above what these players perhaps are worth on the european market, because they want to have these european players in their league, to up the standard. the game there is worth a lot of money. the tv rights are huge, $250 million for those. attendances are going up. this is a booming market for them, but the chinese football association have said it's got to stop. they have called it irrational spending. so they're taking it from five foreign players allowed in a match day team, down to three. and interestingly, they are also saying that in those teams, there must be two chinese players who are under 23, one of which must start that game, the game they've been picked for. so not only are they trying to pull themselves away from this fascination, addiction, if you like, to foreign stars, they're trying to foster an interes

there has been an expectation chinese investors would support on stock market, data trading, but chinesenvestors have walked from -- away from the stock market worries the government, intervenes, metals and fixes prices. it ends up in an area that is already in bubble territory. james: is it challenge that the pboc faces this year. we have been worrying significantly about margins because of the weakness of the pound, its apparent this the consumers do not want to pay more and they are importing with the defective currency. went the r&b or yuan goes down, that means cost inflations -- there is a importance of her line for the u.k. in this. guy: what i am seeing his producer prices going up. james: absolutely. what one can observe from that is thickened. foreign investment by china into economies like vietnam. when i think about china and its impact on global markets. a repeat of last year. 2016 last year, it was just beginning to get going and we are seeing the same kind of volatility, some of it involving the lunar you need herea repeatr new year. the difference to me seems to be the la

so, it appears the chinese data is reliable.o, prepare to the rest of the world that compared to the rest of the world, pretty good gdp group -- growth. tradei imagine with between -- with a potential trade war between u.s. and china, what is your position on the? -- that? mr. gulliver: i do not think there will be one. there the too much loss on either side. my operating assumption is that there will be some tweaks around country of origin rules and dumping. there will be some redefinition of rules of trade. however, i do not think that will be an all out trade war between the two countries. what president trump is looking to do is trying to get jobs home in the united states. so, definitely there will be an engagement, but to be see a trade war bricking up -- breaking out? not so much. john: do think the chinese leaders will tolerate that? mr. gulliver: my sense is that the chinese leadership will engage. absolutely. john: the our two countries that the incoming president has targeted -- china and mexico. campaign, hasbc he --

is chinese new year next week, and that is traditionally a time when a lot of wealthy chinese traveleir overseas travel with property purchases or scouting for property. a better read on the situation will unfold after the chinese new year passes and we see some kind of sense of what investors are looking at, and the brokers will start getting a better read on things after this all-important holiday. rishaad: we have this development in london, the spire , it had -- nearly sold out, headed it? >> it had tremendous appetite from chinese buyers prior to the curbs that were announced, and now what we are hearing is that a lot of people who have signed up for it have not been able to get their money out in time, so they will be facing some difficulties in making those payments according to a spokesperson. rishaad: 70%. that is quite something. near 600,000prices pounds. >> these are not cheap apartments, and that there was crushing demand, and now that it's all in question how that will play out. rishaad: they will collect those deposits, which are nonrefundable. they could be doing well

especially in a place where there was snow know chinese -- no chinese, we all grew up working in the grocery store, and when she went to college her friends convinced her to enter the miss new hampshire, and she managed to pull through. >> i was in the miss new hampshire contest it was a like a run. and i did the same modern dance. >> that was your talent portion? >> that was my talent. >> she didn't speak or know what her name meant until she said it on stage and people laughed. >> said and everyone roared. as the youngest of three girls that her name turn the next child into a boy and over the years she faced discrimination. >> there is not one soul who dozen have a hard time. -- doesn't have a hard time. you to look at that as you know what, i will get through it and be better for it. >> she will be riding in the parade a celebration that is important to show the rich history and celebrate joy of being chinese american. >> from the mountains and prairies and the ocean white with foam, god bless american, my home sweet home. >> in afternoon ktvu fox2 news. >>> and the parade is set

and i think the chinese prefer kill it. and i think the chinese p refer to kill it. global economic system, and that was made clear by the chinese president. and this is election year in china and so it behoves them to try to get along with donald trump and try to strike some kind of trade deal. you will hearin some kind of trade deal. you will hear in america during the course of the election campaign and you know american voters, many of them think that the relationship between america and china has benefited china more than america. they say we did not get a good deal on north korea, on trade, and they're quite happy to see donald trump standing up happy to see donald trump standing up to beijing, they do not buy the argument that america could lose out. certainly there is rhetoric and risk reality. the rhetoric in the us has been largely one—sided, it has largely targeted china as the convenient whipping boy in every presidential election, that china is a currency manipulator, it is unfair in all these areas. whereas americans actually have benefited a great deal

chinese aree, spending and traveling.e seeing tailor-made trips .oing very well >> more competition has been coming in in the luxury segment. how do you maintain your market share? >> we know the market very well. years, we have been the leading leisure travel company. we will continue to widen the gap between our peers. we lead the country in that we have the most competitive pricing and the most selection. a most important link, we have the best service. satisfyingerience customers. clients and our market. yvonne: i want to ask you about another competitor you have, see trip. you are putting yourself in direct competition with see trip. the stock has been lagging behind. in fact, well around the ipo few years ago. does this strategy makes sense, rivaling a big player that owns 70% of the market right now? position on leading package tours to specific travel areas. we offer hotel booking. we feel our clients needs. for destinations, we have the advantage of the hotels. as air ticketing for leisure travelers. offer more c

open look at the chinese and they drop into the chinese with more and an update. the hang seng is another interesting one to watch. thepricing now with shanghai composite and this actually fell below the trend it is at 22.nd you look at the income and this makes me lawn -- jan. there has really been a move back into the dollar. let's talk about something more interesting. you look at these charts and what happened here? virtuallyere down and every single stock fell. these stocks were down. not a lot of people know why. we are seeing a bit of a recovery. having a look at the philippines and we have not seen gains in the market. closed with ao little bit of strength there and it was worth noting that the remittances are showing a come and with a big jump something to watch has to do with the strength of the dollar ofing and there is not a lot risk appetite. >> thank you. let's get over to the first word news. theresa may is set to announce her pulling out of the market. the british prime minister says she has no interest in a half in and half out approach. they may

think theweak d chinese currency gets?we go through seven before donald trump takes office or the lunar new year? >> that is an interesting question, probably after the lunar year, but we definitely go through seven. i'm expecting parity with the hong kong dollar by the end of this year, and after that, we can crash all the way to a 25. stop you there, michael, do you think the pboc are going to allow dollar-yuan to go to eight unimpeded? what makes you think the pboc would not fight back the kind of move? >> i'm talking about a two-year timeframe. if we rewind two years, weaker than where we are now. if we project for two years, fx reserves will have evaporated entirely if we continue the current trend. powerful, but i don't remember them controlling gravity. manus: there are many things they can't control, donald trump, federal reserve two small items. ripping through the fx reserves, are there alternatives. , barring inhibor the swaps market, or do they let it go? borrowingf all, the is going on. we are not seeing it at

there's the chinese currency chart.ee stronger dollar, weaker chinese yuan over the last year. that has sharply reversed the last few trading days. making people question how much is flowing out of china. how much outflows they're dealing with and trying to raise short-term interest rates and put a cap on that. >> today the u.s. dollar is stronger by 0.4%. tuesday to late night, it was 3% move higher, massive for a pegged currency. certainly the story of the week has been surprise at the fact that the chinese have been able to stem capital outflows. most commentators saying this is temporary. soon we'll go back to a steady weakening of the yuan over time. which, of course, is the fear for china. whether it can manage the currency down in a slow managed fashion or at some point leg down. this week it's gone up. >>> broader markets. oil prices which did have a slip yesterday, we're having one today. up 0.8%. ten-year treasury note, big move in that yesterday. we saw it down to hit a low of 2.34%. the two-year note hit a l

come up goes the 10 year chinese.lk about money markets and the stress they are under. what is your assessment? >> we are doing a lot of modeling on that. for example, you can do something pretty esoteric, clustering, take a look at that, and it is not there. whatever is being reported, i don't see it, so there has been some volatility at the beginning of the last year, and that was pretty substantial. there was significant volatility well, but when you look at it over all in terms of those parameters, to look at the spread between the onshore and not there,y, it is so if your reporters find it, i would like to talk to them. shery: you are not concerned about the money markets. what about the overall emerging markets space? this is a reaction to a stronger u.s. dollar, and we expect the dollar to get stronger this year. are investment opportunities given how much emerging-market currencies and bonds have been beaten up. >> you have to look at one thing. if the currencies weekend, there is nothing wrong with it. rapidl

>> it is my reading that the chinese government would adhere keep theinciple and chinese currency.-- currency in the basket. still, i believe that some measure is necessary. i hope things will stabilize very soon. on thend of panicking side of the investors will disappear. ♪ ♪ >> fiat chrysler is getting more than 2% right now. the company has announced it will invest $1 billion in making three new jeep models in the u.s. they say they are going to spend the billion dollars through 2020. ford is going to cancel a $1.6 billion investment in mexico, and saved some of the jobs it would have lost in the u.s.. are these carmakers doing donald trump's bidding or are they just throwing him a bone? >> at think there is currently a competition of announcements in who will invest in what in the u.s. most of it has been committed before. we know if you're chrysler a lot of money on cheap in particular. p inyone -- on jee particular. everyone just want to come out and make the announcement that they are building in the u.s. >> the forecast has been raised to $6.50 a share. a buy back of those

entitlements at chinese and korean students and whereas the asian-american figure out discriminates in the 1818 successfully challenged other chinese children and whereas shortly after following the case in the same year sunbathed schools were approved by the assembly bill for children with their migration of white children and led to the segregation the white school and legal challenges with the so 02 walling even callahan they petitioned for his 12-year-old daughter to attend the public school on al gore student instead of the segregated oriental school and whereas the city lay in ruins with the aftermath of the 1906 san francisco earthquake the policy passed restricting children of china's and japanese and corp. to the oriental school and when the same year the board of education decided to the oak family that protested the perusal to immoral the 12-year-old child the james government lodged a formal complaint with the u.s. ambassador that was a violation of the 1894 japanese treated of the non- school policy for japanese immigrants to the u.s. those actions lead to a diplomatic

>> chinese deals could be a dark spot this year.y wave out of china in 2016, but now the government is cracking down on less strategic deals. most make a deals of $10 billion or more have been banned. tryinge curbing deals, to stop acquisitions in overheated areas like film production and hotels, so we will see companies focusing on the deals that make sense. rishaad: thank you very much indeed for that. now, 2017 may prove more kind to companies seeking to list in malaysia. less than five years ago, the country was the top ipo destination in southeast asia, then it lost its allure. forwas last year so slow companies coming to the market there? i think there was a multitude of factors. there was actions, lot of uncertainty, the global commodities market did not do too well as well. the volatile ringgit was another factor. a lot of companies planning ipo's in 2015 and 2016 have had to postpone it until later. what is theht, so thinking at the moment? either expectations of a rebound? we have a lyrical uncertainty in malaysia, which c

this is good news for the chinese airlines.heir prices and making sure they have enough capacity. it is also good news for the host nations because chinese tourists now outspend their american counterparts. $255e expecting about billion a year on that travel by 2025. that compares to the $137 billion they spent in 2017. travel and tourism, a key sector for the chinese government. they hope, despite a weaker yuan, the areas look continue to fly high in 2017. was signedp officially to the wastepaper basket of history. the dollar is weakening. let's look at how we will be covering those stories and many others, with the rest of bloomberg markets asia. what have we got. >> huge news out of the u.s. they opted out of the transpacific trade deal. years in the making. we will be discussing the winners and losers out of the u.s.. will trump replace the tpp with er trade deals. also, the u.k. supreme court rules on whether triggering brexit needs parliamentary approval. 11 judges ares 11 giving out their verdict on that. and what that m

but a chinese foreign ministry spokeswoman said china will safeguard its own rights.ur china editor carrie gracie reports on the growing tensions. there are three key flashpoints between the new trump administration and beijing — trade, taiwan and the south china sea. the last two involve the risk of military confrontation between a fast—growing naval power and the world's superpower. china lays claim to most of the south china sea, of the one of the busiest commercial waterways in the world, and one where several of its neighbours have competing claims. areas in the south china sea that are part of international waters and international activities, i think the us is going to make sure that we protect our interests there. after the new white house spokesman, sean spicer, echoed threats from the incoming secretary of state that the trump administration may use force to defend its interests in these waters, china has responded with defiance. translation: china will firmly safeguard the freedom of navigation under international law, peace and stability in the south china

there is another strain of chinese thinking that goes back long in chinese history that they deserve dominant. that is something that not only the united states, as a pacific power, will naturally resist, but all the other countries of the region will as well. what we see today in addition to our own determination to continue improving our military capability there in every way, making enormous investments. we call it the rebalance. we have shifted a lot of forces to the asia-pacific specifically to make it clear that the united states will continue to play a military role in the asia-pacific. but that second strand of chinese behavior, the effect it is having, is to drive many in the region into our arms essentially, looking for greater cooperation with us. charlie: if china becomes more aggressive, they feel the need for some partnership and alliances that will bolster them? sec. carter: that's right. on top of which, many of them in their own right rising military powers. japan under abe. india, destined to be a major regional power. even vietnam, which we have such a complex hist

dollar against the chinese currency.usly it will get headlines like this. is theing said, that objective assessment, sort of like how it is on the surface. what does it mean? this, youfixing like get a big spike in things like the high court, things like deposit rates. if you are a short seller, with a short position on the yuan, you are banging your head on the wall. your tears will get a lot more better tonight when you look at your book. offshore renminbi, you have a weakening. biggest drop in six months, big deal. that andeave it at flush the story out later on, but it is really about singling from the pboc. let's look at the opening from the chinese cash market. shanghai and hong kong. kong at the moment is leading these gains across the asia-pacific. have a look at the top three in bottom three. producers seeing a very decent session right now. volatility of the banks. let's break it down for you. the hang seng, let's have a look. way, since we are talking about this, this is really about samsung. we will talk more

as demands of chinese tourists change, japanese businesses are going to be busy trying to keep up. nhk world, tokyo. >>> japanese business leaders have called on aung san suu kyi. to do more to improve her country's infrastructure and deregulate capital. more than 30 business leaders from japan met her on friday in the capital. chairman of the japan chamber of commerce said a greater number of japanese companies have been focusing on myanmar over the past several years. but he added myanmar has weak infrastructure with frequent power outages and restrictions remain on foreign capital. he asked for swift reform. aung san suu kyi reportedly said they have the same views and they'll work to fulfill the requests. she said myanmar wants japanese companies to invest more in infrastructu infrastructure. >> translator: we have made suggestions and the question is whether the myanmar government can really carry out those suggestions. that will be one of the key factors in attracting japanese investment. >> myanmar has rapid economic growth of about 8% a year, but development is expanding im