one, initially chinese chefs had limited access to traditional chinese ingredients. get more of that finicky tourist dollars, these restaurants began catering palate. ery basic american >> chinese food is so broad. american-chinese food is one segment of it. it's more approachable. >> thank you for this wonderful lesson in chinese food. and now i'm taking this with me. i'll send the plate back. seriously, i ate that food for the next two days. ♪ according to some liberal rag called the harvard business review, immigrants are more likely to become entrepreneurs than american born citizens. one is stanley lo with sales over $4 billion since 1986. stanley has built an empire that features some of the most coveted properties in northern california and he serves both domestic and international clients. today we go onto the grounds of his one-of-a-kind estates to meet the man behind the mailbox brochure. stanley's hair is way more impressive than mine. i've never been in a house like this. when you moved, were you well off? >> no. when i come here, i have -- almost have no

i know chinese, chinese american, there's chinese. how important was it for you to grow up in your chinese culture and owning your chinese identity? >> it was hugely important for me. i'm third generation chinese american, my grandmother came over after world war ii. i always knew, no you're not from chinaism so really being embedded in both histories and context has always really really important to me and something i've been proud of. >> san francisco chinese town is where the chinese settled. once they moved there, they were forced by the city to stay there. chinese business is sprang up to service the new neighborhood, creating a solid community that's sustained for over 150 years. >> where do you live? >> right in here in chinatown and i have not moved out for the last 40 years. >> rent control if. >> sure. i would say the guru of china town. >> one of hearts of china town. >> being chinese is the coolest thing in the world or knew years celebration are lit. >> chinese celebrations are literally lit. >> besides fire crackers, whe

the chinese report.the chinese report in both english and already edited in the volume, which will be published by the chinese academy of social sciences publishing house. i hope it will come out pretty soon. in may this year, we launched a rollout event in beijing, similar to the one we are holding today and washington, d.c. andad people from csis other think tanks from the united states. story, theply my chinese side of the story. equally important or even more important, after a few rounds of consultations, csis made the decision to help out and to coordinate american think tanks to write a report. -- the first idea is to write something called a joint report. publicity of teamwork collaborated by both sides. but because of the lack of communication, we are separated so widely and we cannot reach consensus on everything -- every single issue, we decided to do something like they shanghai communique. we express our views and they express their views. notes. can compare we compared notes in the first pl

the chinese exclusion act, which said chinese laborers could not come to this country.ould only come in if you're a merchant or already born here or a diplomat or an educator. so, after the earthquake and fire of 1906 destroyed all the records in san francisco, a lot of people suddenly decided that they were born here. and not only that, they had sons, mostly sons, that they had fathered in china. and so, those sons and occasional daughters would come into this country through angel island, and they have to prove that they're related to these people who were here illegally, either merchants or american-born chinese. robert: that probably made the government more suspicious, more skeptical, of everybody's story, then, right? grant: right, and they developed this really intricate series of interrogations, where they'd ask, "how far is it to the village well? who lives in the fourth house of the third row of your village?" robert: tell us a little bit about the poetry that we see carved into the walls. grant: during the time that people were here, especially if their case

the us wanted and the first chinese interpretation was compliance with existing us sanctions, chinese always opposed any kind of your adderall sanction and china has banned, of course imports from north korea after reaching the cap under the un security resolution that was passed in the end of last year. the chinese also told the us that was tightening up in terms of border inspection but i think there's been a failure on the chinese side to identify what it was that was satisfied the united states and not meet our expectations because that wasn't in the cards anyway and it really goes to the issue of banks operating with north china that are facilitating north korean access to the international finance system and enabling north korea to engage in these illicit activities. there has been efforts by the trump administration to provide evidence on banks and front companies that are enabling north korea and the reaction as i understand it from china was not sufficient. >> >> i think there is a potential going forward maybe with threats that may be have been articulated to see if they can

strategy on our side and on the chinese national interest and chinese strategy on the chinese side. we did these in consultation with each other, meaning that for example on the asia-pacific paper, bonnie and i and colleagues talked about structuring the themes and what key issues to address. but we were very clear on several things, no veto on the other side of this paper. it had to be an honest and forthright explanation of interest and strategy from that country's perspective. we informed and talked to our governments but the u.s. government and the chinese government did not review or approve these papers. they're independent. we are all independent scholars. and so what weapon presented is not u.s. or china government policy, but we think it represents a pretty good consensus point about how these issues are viewed in each country. of course, there are multiple views about military affairs, global issues, north korea, in both china and the united states. but we have for each of these papers three authors on the american side, three authors on the chinese side, and a group of so

report we say chinese needs to resume that. chinese state continue.nevertheless the direction, i think, is the same on both sides. where we differed, as i think again the u.s. believes in our report that china isn't living up to its commitments and that is much more needs to be done to bring china back into compliance, and restart liberalization, and there are variety of things the u.s.ing can do bilaterally and be pro-active in pushing for the outcome. to begin with, simply just rigorously enforcing u.s. trade laws, bilaterally and the wto. we're not advocating discouraging chinese investment in united states because it strengthens the economy but we think it's reasonable to strongen the -- strengthen the process for considering whether individual investments, particularly high-tech, may have concerns for national security. within our group there was no consensus about the principle or the term reciprocity but we think u.s. investment policy should be faked how china treats american investment. finally, the u.s. side thinks that the u.s.-china bilate

bad news is good news with chinese equities.at point do you start looking at onshore a-shares and start talking about fundamentals? >> the market is maturing, but it is gradual. we got the connect programs bringing global money into the onshore market, but it's tiny relative to current trading activity. we are getting more institutional investor participation onshore, including the national pension fund, but it is what it is. it is an early phase emerging-market separated from global markets for its history. that's going to change going forward. it's interesting the chinese authorities want that change to happen, which is why they've allowed the connect program to go forward. that's why the msci inclusion was so important for chinese authorities. they understand capital allocation and equity market onshore is not optimal. haidi: does this kind of remain a bit of a casino until we have the opening of the capital accounts? i don't like to use terms like that. we talk about the underlying aspects of asia. factors, ifvalue you by hi

for our chinese friends, i can tell you if chinese security services turned over several containers of centrifuges or precursors or reprocessing or shut down specific way bank accounts in about a dozen banks, having worked this issue in the white house for five years, boy would that have a huge impact on how the administration, and emit administration thought about this problem. i'm going to come back to david, but i want to give the chance to the audience for one or two questions here is your hand. where microphones. briefly, who you are and your question. the gentleman in the blue shirt right here. >> thank you. i'm from the university of washington, chinese student and i have a question about north korea situation. we have been talking about what we should do, which is per plans to solve this crisis, but i want to put force one scenario for the palace to respond-- >> can it be a brief scenario? >> yeah, yeah, how about having china to have the kind of dominance control over north korea nuclear scenario and having the us internationally recognized north korea so we can solve the prob

i think the president has to become tougher on the chinese.the release valve the north koreans are using in their punishing the south koreans rather than the north koreans. ultimately, unless we get more real about what is happening, then we are just on a collision course north korean armed icbm capable posture for the rest were lives, do you agree that? >> i agree, but i think what you said earlier is just as important, which is, you have to open the way to negotiation. >> that is the key. and [inaudible] our terms, but talks about talks to get them to stop. in the circumstance in which they have suspended testing and their fissile material production. that is much more secure. we want to prolong the suspension as much as possible and go beyond it to get them to dismantle the facilities they have for producing more missiles. and then ultimately get the weapons. the weapons are going to come last to come down a very long road because they need to be assured the relationship is changed. that's the structure of the different that is at least rem

the chinese get concessions.stopped talking about predatory trade practices, south china sea, taiwan. in the short-term, beijing finds this dynamic is advantageous because we keep falling for it. they will not change their views until we give them an incentive to do so. david: are there more sanctions in the u.n. toolkit? we see the security council meeting this afternoon. is there more the u.n., multilateral institutions can do to curb this from happening? gordon: yes, you look at the last two sets of resolutions, they have humanitarian concern exceptions, which the chinese drive a truck through. those could be eliminated. embargo could be a full on north korea. all sorts of things the u.s. can do but won't do. i think it is up to the u.s. to start, for instance, to make sure the north koreans do not sell missiles to iran, which they are doing. it is not just this administration, it is the two before it, did not stop the arms sales that north korea was engaged in. david: how cohesive is the u.s. policy toward ch

do people worry about chinese corporate debt?s about the level of debt in china. that's right. there are worries. and the quality of chinese debt. but this is simply an opening. the hope is as you may recall mcsi, with the index provider decided whether or not to include chinese stocks, it had to consider whether or not overseas investors had enough access to it was looking at stocks are not only stocks that we re at stocks are not only stocks that were accessible via hong kong so the hope is that will be a similar story for chinese bonds and the best chinese bond available via hong kong will be included in global indices in the weeks and months. good to talk to you. on saturday, the president of the philippines rodrigo duterte celebrated his first year in office. according the world bank's latest projections, the economy is set to expand between 6.5% and 7% this year — this makes it the second fastest growing country in asia. nestor espenilla junior is one of the men responsible for sustaining this progress. he's just been appoi

into the chinese regime. there are hundreds of thousands of chinese companies still doing business with north korea, it's let me ask you about the sanctions that are in place. are they working? are they affecting the pace with which the country of north korea has been able to develop and test its nuclear and ballistic missile programs, and to what sources of funding has the regime resorted to in order to get around some of these sanctions? >> thank you very much for that question. i think that what we see is, as we build this global kind of network to try to increase the pressure on the regime and prevent proliferation especially of illicit technology going to north korea, that there has been some effect. we are affecting their ability to get things that they need. it hasn't, unfortunately, slowed down their missile testing program. but we do see them needing to resort to, you know, new avenues of access to get imports and other things. i think that is one of the desired goals of the sanctions regime, is to m

you were protesting the chinese president's visit today. how do you view these two iconic pandas, gifts to germany? >> like everybody, i love these two pandas, but i hate to say i do not have the humor to observe this kind of -- there is a german word. i think this is just a show. it does not have really a symbol of friendship or sympathy for animals. it is just business. >> i was going to pick up on that. up until the 1980's, pandas were offered as diplomatic gifts, but now they are no longer gifts you can keep. they are given on loan, which sounds like just a business deal. >> it is the business -- it is a business deal, and you know the chinese are very clever, very smart. they never do a bad bargain. this is just to show this is a peaceful time. this is a symbol of good friendship and a good relationship to germany, but there are some really very bad, evil, cruel things behind it because i have something in my mind. that's why i'm going to the demonstration. >> you were protesting the president's visit today. we understand the president

there was even a chinese security guard in their hospital room, 21w.have privacy as husband and wife before he died. it was absolutely terrible and tragic. there have been calls to lifts at —— lift restrictions on his wife. she has been subject to surveillance which is said to be so suffocating that she has mental and physical ill—health. is this where your focus will turn, to her? absolutely. today iam demanding will turn, to her? absolutely. today i am demanding that he international committee be given access to her. we have lobbied on their behalf at the united nations, which found that they were being held in violation of international law. the chinese government said that she was under "no legal restriction". that is an inaccurate statement in a bizarre sense. there is no law that allows for house arrest in china, so she was being illegally held. liu xia is never been charged with a crime so she should be able to get a passport and leave the country immediately. and i very much want the wishes for the burial of her husband to be honoured. she shou

>> the first thing donald trump has to do is ask chinese in public how come north korea has chinese and chinese looking missiles and equipment in their arsenal. >> what we found out this week, not only missiles from china but missile launchers, the mobile missile launchers, in north korea. >> and intercontinental ballistic missile is on a chinese transporter, and the most sophisticated this will test on august 24th, february 12th, may 21st, those missiles look like variants of a submarine launched missile. on april 15th the north korean shoved a big canister on top of a chinese launcher, created through the square, that is chinese canister for the df 41 missile, we don't know what is going on here but we need the president to start asking questions. david: i need to stop you in your tracks, how to turn the screws on china. we just had something happening today, b-1 bombers flu close to the north korean border but this is a show of force. what specifically can be done to hurt the chinese and do something about north korea? >> last week we unplugged money laundering, a small institution,

the chinese ambassador speaking as you are, i'm wondering, the chinese are criticizing this move on the north koreans, we are, the russians are. we're in agreement what they're doing is appalling. what's going to happen here? >> what is going to have to happen is he deliberately close july 4th, just like he deliberald deliberately chose to annoy president chee to be the most important person to talk about that weekend. this is a guy who wants to be center stage. he is begging to be negotiated with. that's what he is playing for. >> neil: so what do you see happening? obviously, this time, when the chinese and america presidents meet, it will be a different matter, i imagine, a different mood, and different demeanor. the president, our president looks like he has had it. the chinese are going to keep saying they're doing the best they can, but the cynic in me saying they're stringing us along. you've written a best-seller on this, you kind of know this whole dynamic better than i. what do you think the chinese are trying to do, because they're not succeeding? >> the chinese are going to,

the chinese are interesting in this respect. they learn from history. one reason that grandma and i got into this is that we suspected we lived in the united states of amnesia where there is no attempt formally to and filtrate historical knowledge in our senior officials of the us government. kissinger complained about it in the 1960s. when you go to beijing and you talk to senior officials there you will realize that they systematically study history and that the policy is reading assignments. all but your book is the latest one. i'm prepared to bet that it's already been read desperate can you confirm or deny that it's been read. >> i can tell an anecdote. i was in new york last night as part of this rollout is a high-level financial person had just come back from this one belt, one road that the chinese president held china and it he had got him on the side and said what you think of this new book and he said, it's not published until next week in the us and he said i read my copy last week and it's been tested but i want to ask you about this or tha

exports and create more chinese influence.es of this initiative and how is this going to be funded? the challenges are immense and numerous. different in different places. in many other places, just beyond me to the west, central asia, we have questions of instability and questions of corruption. infrastructure projects are hard to keep clean at the best of times, they unfold over long periods of time. if you're dealing with non— transparent government in china and then nontransparent government in its neighbours and partners, then you have a recipe for potentially vanotti projects, projects going wrong and a lot of misallocated resources —— vanotti. that something china's commercial partners are worried about and it is something private business in china is worried about —— that's something. 0ne is worried about —— that's something. one of the striking problems president xi has with this initiative is in getting his own private sector on board, it's very much a stake driven initiative at the moment and it's being funded by ch

it has to be good news and chinese capital markets.ad: true, but the problem is you can lower the return, but people still want to know what they are interested in. there is a lack of transparency with these wealth management products. is that being addressed? we know and these announcements, there will be more transparency going forward. there is still limited details of what these oversight committees will do, but this is a step in the right direction. it looks like the regulators are trying to get on top of this. this up withdd other announcements, that they want to deleverage the state owned enterprises and eight the overall economic environment, so a step in the right direction. rishaad: the strongest fixing for the yuan since october 2016. been flogging these products, saying it is not our risk, but ultimately, the backstop is the government. the banks of the first line of fire, if you will, and no doubt regulators are not happy about that. some of them have compare these wealth management products to being ponzi schemes. raised,

that is in the nation of the great chinese people from the chinese perspective and all chinese will tell you this story that china was great for ever. it was the dominant power in the world. italy included the area in which it could see. but then there was the to midyears that exploited them and then to dominate them and then we get big and strong and get ourselves and the chinese with the narrative is at the top of the universe. said is a higher archivolt dominance and somewhat lower on of of purebred it is notified place that is not china's place. and then to talk to people that basically we are restoring we are just restoring ourselves and would have been otherwise. they're all miserably pour. so to that industrial pollution as pointed out and with per capita income begins to grow so that we have a lot of miserable poor people with a bigger gdp. so what? so they don't have that market economy. but still for that purpose of where it ought to be at the top of the pyramid. i like this and a question privilege -- very much but it is true that there is this story of the period from the 184

he unplugged a chinese bank. he did a lot of other things, quote, quote, outraged the chinese. what he will do is really ramp up the costs on beijing. this is one approach we haven't tried in last couple decades. neil: we conducted joint military exercises or certainly joint missile tests of our own with the south koreans. that yet seems provocative on part of the chinese which i always find remarkable especially when the north koreans chime in and say, very provocative as if theirs are not? >> north korean military is forward-deployed on the militarized zone which separates two koreas. for get about their wmd, chemical, biological nukes. they have a very capable conventional military. our exercises are conventional. so what we're trying to do is deter an invasion of south korea which the north koreans did in 1950. the chinese proposal for freeze in nuke tests for stop in joint exercises that is really bad thing. it means south korea at some point won't have capability to defend itself. because those exercises are absolutely critical keeping both militaries sharp. neil: being r

also coming up, the human rights giant and chinese dissidents liu xiaobo has died. the 61-year-old nobel peace prize winner died in custody after chinese authorities rejected international pleas to let him receive cancer treatment abroad. and, the tour de france enters the grueling mountain stages. we will find out whether the reigning champion could power through the pyrenees and retain the yellow jersey. i have brent goff. it's good to have you with a straight we start in paris. the french president emmanuel macron is hosting u.s. president donald trump for dinner at the eiffel tower tonight. during a press conference earlier today mr. trump said something that made a lot of people gulp. the u.s. president said something could happen with the paris climate agreement. people took that as a signal that mr. trump is reconsidering his decision to pull out of the agreement. at that same press conference trump praised the relationship between france and the u.s., describing it as unbreakable. the two said that they are cooperating on counterterrorism efforts and a roadm

going to give up on the chinese. and now today you saw that they think that they can work together. i think this strategy really on north korea china is the lynchpin, so president trump trying to calibrate what to do with the chinese. i think it's going to be a combination, and secretary tillerson in fact pretty much said this, a combination of diplomacy and trying to talk to the chinese, but also tough pressure. and that could be diplomatically. it could be on trade. president trump has indicated that he's willing to give china a better trade deal and not label it a currency manipulator. if it were to play ball on north korea. but he's also said he could, you know, put tax levies on chinese imports of steel or other things or perhaps sanctions on chinese banks and companies doing business with north korea if it doesn't comply. >> so are there any indicators that the u.s. will be able to lean on china to apply some real pressure to north korea? >> well, i mean, i think we'll have to see how tough president trump want

it is also decided to allow or give in to the chinese government's request to the chinese government'srnment customers that it will keep data but many people think this will mean that apple will hand over some of that data to the chinese government when requested. now we have apple's announcement or its acknowledgement that vpn apps are also not on sale in the app store so itjust goes to underline this ongoing demand by the chinese government for apple to give in to certain laws and regulations and apple says it simply is following the rules and regulations of the country in which it operates. just the amount due in case you've been away from the television or your phone, anthony scaramucci the man who was going to reset the messaging coming out of the white house has been relieved of his duties ten days after he was offered them, he hadn't even formally taken up them, he hadn't even formally taken up thejob. them, he hadn't even formally taken up the job. i them, he hadn't even formally taken up thejob. i will see them, he hadn't even formally taken up the job. i will see tomorrow, go

direct words from the chinese president. how is that message perceived on the ground where protesters are doing what they typically do in hong kong. >> reporter: i think people here are showing their opposition to that kind of statement in this uniquely hong kong tradition. annual pro democracy march. every year on the anniversary of the handover from british rule to chinese central government rule. you won't see this, george, in any other city in china. it is diversity of political opinion. labor unionists dressed as zombies as you can see complaining of long working hours. you see the arrest and jailing of the chinese leader who was released from jail for health reasons. this is a unique tradition because unlike the rest of china, hong kong allows opposition political parties and freedom of the press and expressi expression. china has one party. communist party rule. one of the themes among the diverse activists who come out here is a concern that 20 years after the hand over from britain to china that democratic freedoms

the great rejuvenation of the chinese people. and with that chinese the narrative. and china was grey forever. and then to see them but but then there was 200 years of anomalies of the westerners and they invaded them. and dominated them. but now that is over. back to our normal place back to the narrative at the top of the universe proposal that is a horrible dominance into everybody else's lower on the pyramid the wine is known as known by place. so that they looked and see we are not rising we're just restoring our souls to where we were before and would have been otherwise. to have a big gdp with a lot of people. and with that industrial revolution and everybody was miserable. okay you have a bigger gdp but so what? that they did have industrial revolution, a technology so basically the march of civilization so then to be at the top of the pyramid. >> but the way that it is powerful the way that strategic question is framed if that is true that is reinforced by the historians that we are reverting. so that narrative is completely different in which there is that

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chinese state.watching newsday on the bbc. still to come on the programme: why thailand's prime minister is telling dancers in some of thailand's bars to tone down their act. central london has been rocked by a series of terrorist attacks. police say there have been many casualties, and there is growing speculation that al-qaeda was responsible. germany will be the host of the 2006 world cup. they pipped the favourite, south africa, by a single vote. in south africa, the possibility of losing hadn't even been contemplated, and celebration parties planned in all the big cities were cancelled. the man entered the palace through a downstairs window and made his way to the queen's private bedroom. then he asked her for a cigarette, and on the pretext of arranging for some to be brought, she summoned a footman on duty, who took the man away. one child, one teacher, one book, and one pen, can change the world. education is the only solution. this is newsday on the bbc. i'm rico hizon in singapore. i'm bab

the chinese bond market is like the chinese stock market.olicies come at the drop of the hat and complete the change the market. we saw a plunge in years because of deleveraging crackdown that no one saw coming. foreign investors are unsure of whether to get in because of that. haidi: that is the thing. after thes gun shy stock market roller coaster was not that long ago, and same kind of issues we have seen with msci inclusion. what comes next in terms of the structural things that need to --tressed for the flows to to be addressed for the flows to pick up. >> investors getting used to the market. yields arerket, the attractive, and the longer these things are open, the more different channels open up and people get more comfortable. ,rimary connect, ipo connect where chinese investors would be able to come south and take part in new listings in the hong kong market, that could be the next part of the mutual market access int terry lamb mentioned terms of better integrating hong kong to the mainland as well. haidi: certain the further integ

but mostjobs here will go to chinese workers, and the loan was tied to a chinese design.il fields too. some locals say they see no benefit. in one village, a kindergarten has become a hostel for chinese workers. ardak kubasheva complains of pollution, and jobs going to outsiders. translation: the chinese have done nothing. there's a huge oil industry here, but nojobs orfacilities for young people. we want to live decently, so that we won't be ashamed of our village. government intimidation makes many kazakhs cautious on camera. but, privately, several accused chinese companies of using bribes to cut corners. china says its presence abroad is a win—win, a win for china and a win for the people in its path. but that's not the experience here. they say their oil wealth is going elsewhere and that that "win—win" means china wins once, and then china wins again. back at almaty‘s zenkov cathedral, dosym satpaev says the nations of central asia are like billiard balls in a game between the big players, russia and china. china, i believe it will be like some threat for our indepe

chinese society certainly lost a brave human rights defender.lso in the programme, donald trump visits france and hinted he could change his position on the paris climate change agreement. any legal immigrant caught up in the grenfell tower fire says she lost everything and the authorities turned her away. they do not recognise me. i am not a big them. —— victim. they do not recognise me. i am not a big them. -- victim. live from our studios in singapore and london, this is bbc world news — it's newsday. good morning. it is midnight in london, 7am in singapore and beijing, but one of china's most prominent political dissidents, liu xiaobo, has died of cancer a month after being moved from prison to hospital. he had been serving an 11 year sentence. he wanted the noble peace prize in 2010 from his pursuit of democracy in china. leaders said the government in beijing bore a heavily responsibility. liu xiaobo in happier times. and liu xiaobo last week. reunited with his wife only at the end and still under the watchful eye of the state. two foreign

they are quitea being out of the chinese side. see as indian aggression across an international boundary into territory that china considers to be a part of its sovereign territory even though it has disputed with the kingdom of bhutan. the chinese rhetoric is also notable here for having presented an ultimatum. in previous crises diplomacy was possible because the chinese were willing to talk to the indian side but here as noted the precondition is the indians must withdraw first but by doing so india would be admitting defeat, effectively losing face, set in both countries up for the 10th stand—off that we witnessing today. you mentioned previous crises, i wonder how are relations between these two great superpowers? relations between india and china are delicate mix of cooperation and competition. the rising asian giants with massive economies, the rest necessarily a large degree of economic cooperation between them but on strategic matters, ranging from india's tense relationship with its other nuclear rival and neighbour paki

you know, the chinese are looking at this.o maintain that stability in north korea because we don't know what will come next and don't want there to be any surprises when it comes to things that are going on around us or on our borders. so the chinese are really basically bent on propping up the regime. if the united states can convince china, and it's a big if, to curtail some of their trade, then that would perhaps change things and perhaps bring the north koreans more tour de place where these types of events such as the intercontinental ballistic missile tests would not be happening or would not be happen human being the way they are now -- not be happening the way they are now in the world. >> don't forget the commerce department is considering slapping tariffs on chinese steel, more tariffs on chinese steel, another piece of the whole negotiating -- the negotiating, you know -- >> that would have huge consequences back here. he talked about reciprocal trade relationships ahead. >> all right. >> colonel cedric leighton, t

the trump administration going after chinese banks, chinese individuals, and chinese companies last week was the right approach, but we need more of that. unfortunately i think ambassador haley has the right approach, but the chinese will never allow the kind of resolution that we really need. frankly going after more north koreans when the u.n. panel of experts says it's non-north koreans, read chinese for violating the sanctions. the oil sanctions the chinese will never allow oil sanctions that will have a real impact. i mean, the chinese will put in enough loopholes they will still sell oil to north korea. >> john: president trump famously tweeted a "at least china tried," in the past tense. have they tried? >> the chinese version of trying is saying they agreed to, or implementing a coal ban they agreed to last year, and they refuse to implement. shining that light while as the president tweeted their trade with north korea went up 40%. i mean, it's a classic chinese move, where they try to distract you with an implementation when they're actually doing other things on the side. the

from the northeastern chinese city of dalien, i'm stephen engle.or watching. ♪ ♪ jonathan: from new york city to our viewers worldwide, i am jonathan ferro. with 30 minutes dedicated to fixed-income, this is "bloomberg real yield." ♪ jonathan: coming up, president draghi's dovish words, coming up, but his words fall on deaf ears elsewhere. reflation trade struggles to find buyers. the 10 year tips auction draws the lowest number in five years, and counting down to the fed's decision. the long-run miss of its inflation goal undermining for another rate hike. we begin with a big issue, a dovish draghi doing his best to push back against markets. mario drhi

54 series of kids' cartoon in chinese, the adventures of a rabbit and a panda.o introduce soft power. a lot of chinese tourists are coming to russia at the moment and moscow wants to boost that. vladimir putin strongly needs his ties with china to become even better than they are at the moment. pressure on the islamic state in raqqa cranks up. syrian forces backed by the us have breached a wall surrounding the old city. this is a hugely symbolic city for is. it's in the north of syria and in 2014 islamic state declared it the capital of its caliphate. it is incredibly difficult to assess the presence is has in raqqa at the moment. we think in the region of 2,500 is fighters are in raqqa as well as 100,000 civilians who are trapped. rasha qandeel from bbc arabic talked to me about the significance of the old city in the overall campaign for raqqa. it is basically as if it is a seed around the city and a few days ago, the sdf said they were surrounding the sdf said they were surrounding the city by taking control of this old, it is like a pavement really, it is no

and the chinese and hong kong flags have been raised in a ceremony to commemorate 20 years of chinesee recapture of mosul from so—called islamic state within the next few days. but for the moment fighting remains fierce, and the situation for civilians still trapped in the old city deteriorates further. our correspondent nafiseh kohnavard has travelled to mosul and spoken to families who've fled the fighting, after being used as human shields. after nine months of fighting, there is now celebrations. the iraqi flag raised over what is left of the historic al—nuri mosque where the leader of the so—called islamic state once declared himself the ruler of all muslims. the security forces are close to pushing out the militants but the fighting is not over yet. the battle for old mosul continues. just 500m away from us in this direction, the areas that the militants occupy is getting smaller and as this happens, rescuing trapped civilians becomes extremely challenging. this is one group that managed to find safety. these children were held as human shields by is. most of them were living in

chinese companies are becoming more innovative.hat part of the market. uber is facing more trouble, they are halting business in macau as of saturday because of local regulations. it faced problems in taiwan earlier in the year, it suspended operations but resumed after setting up a partnership with after setting up a partnership with a local company. another recap of the markets. japan and australia are in negative territory because chinese markets are depressed. we will watch how that welfare when it opens in about 45 minutes. black monday yesterday, nearly 500 shares suffered steep falls. the plunge came after regulators flagged an extended crackdown on the financial system. investors were rattled even though china had better than expected growth numbers, 6.9% in the april— june quarter. the rest of asia is currently in negative territory. having a look now at wall street. the nasdaq continues to break record highs for an eight consecutive session. thank you for investing your time with us. the top stories this hour. senior russ

>> they'd look like sanctions primarily focused on chinese front companies and chinese institutions thatilitating this illicit trade. if you look at the way north korea engages with the world today, there are a few nodes -- 20, 40, 100 nodes -- but it's a limited sets of these companies and financial institutions in china where the bulk of the financial activity occurs. we could focus on those nodes, squeeze those nodes and, as a result of that, squeeze north korea. >> woodruff: and john mearsheimer, you've taken a look at this. do you think that could work? >> no, i don't think sanctions will work, judy, and i think there are two reasons for that. one is that north korea is not going to give up its nuclear weapons. indeed, it would be crazy to give up its nuclear weapons. the united states is interested in regime change, and nuclear weapons are the ultimate deterrent. so you would have to inflict enormous pain on north korea to get -- to give up those nuclear weapons. i mean, you would really have to put tremendous economic pressure on them, and you cannot do that, in large part because

but mostjobs here will go to chinese workers, and the loan was tied to a chinese design.ee no benefit. in one village, a kindergarten has become a hostel for chinese workers. ardak kubasheva complains of pollution, and jobs going to outsiders. translation: the chinese have done nothing. there‘s a huge oil industry here, but nojobs orfacilities for young people. we want to live decently, so that we won‘t be ashamed of our village. government intimidation makes many kazakhs cautious on camera. but, privately, several accused chinese companies of using bribes to cut corners. china says its presence abroad is a win—win, a win for china and a win for the people in its path. but that‘s not the experience here. they say their oil wealth is going elsewhere and that that "win—win" means china wins once, and then china wins again. back at almaty‘s zenkov cathedral, dosym satpaev says the nations of central asia are like billiard balls in a game between the big players, russia and china. china, i believe it will be like some threat for our independence. why? because for china, kazak

chinese bank. there need to be more sanctions and much tougher. >> when you say we have to do something, let's talk about the big one, preemptive strike, would you support a preemptive strike of any sort? >> no. because that is a fraud with potential costs in human lives and really countless american lives in the soldiers that are there now. so any military action has to be an absolute last resort. but we are resorting to a military deterrent even as we speak. the missile defense force that is deployed in south korea or deploying there and perhaps in japan as well. the military exercises so-called in firing missiles as we have done in the south koreans. so we are beginning military deterrents. >> now, on that front, the defense secretary recently said war with north korea would be catastrophic, as you point out. we're talking about north korean civilians. you're talking about u.s. soldiers and something the likes of which we have not seen at least since world war ii. you are talking about casualtie

president trump needs to ask the chinese how come the north koreans have all these chinese-looking equipment in its missile inventory. there is all sorts of stuff the chinese won't like that the u.s. should be doing. when we do that we give the chinese for the first time ever an incentive. we are telling the chinese we are serious about our tone security. dagen: china being the second largest foreign owner of our debt. being an important exporter into the united states market, do we need to be willing to feel financial pain in the united states to contain this growing nuclear threat by putting pressure on china? >> that's an important point you make. every solution is going to cost us. because of misguide policy. everything we do going forward will cost us. but it's going to cost china a lot more. they have taken economy gears to selling stuff to us. they are the trade surplus country. we are the deficit country. deficit countries don't worry about trade wars. we have an economy that is twice the size of the chinese economy. that gives us enormous leverage. but what we haven't done in the pa

and chinese business leaders.y steve mnuchin and commerce secretary wilbur ross participating in a reception for chinese vice premier. the meeting comes as u.s. considering new tariffs on chinese steel and for china to put pressure on north korea and its nuclear program. forbes columnist, author of the coming collapse of china, gordon chang. thank you for being with us. >> thank you so much, nicole. nicole: what are the first steps should be taken here? what should the u.s. do in relation to china? and how much is south korea going to help with this? >> the chinese with regard to north korea have not been helpful and this is important for the trade talks because president trump in april said the chinese would get a better trade deal with the chinese were going to help on north korea. well we know from his june 20 tweet, that the chinese haven't been helping or haven't been helping sufficiently. so that will color these trade talks. they say these talks have been sputtering. they could come right at end of last few