i give youth director of the office of space commerce for the years department of commerce kevin o'connell. [applause] >> thank you, carolyn k, very much for the very nice welcome him and a short welcome which is always important. also thanks to the chamber for making this space summit an annual event. i'm delighted to be here with you today and as i i begin lete pass on warmest greetings from my boss secretary wilbur ross who is unable to join us to be. the secretary remains our top enthusiast at the department on space and space commerce issues. the secretary did ask me to mention of course that launching the space economy is one of the highest priorities of the department of commerce and as has been mentioned already, the top priority of the administration. the space economy continues to grow. in july the space foundation reported that the global space economy grew to $415 billion, exceeding $400, exceeding $400 billion for the very first time. our major financial institutions project that the global space industry will be worth between one and $3 trillion by 2040. 2040. part of that va

of commerce on behalf of the u.s. space industry, and here are just a few examples of the department's activities. since january 2017 commerce's economic development administration has invested over $26 million in 21 projects across the united states that support space and aerospace industries and promote regional growth and jobs. our minority business development agency has also worked diligently to expand the minority participation in space commerce. we have 33 cases covering the space industry sector. finally, the bureau of economic analysis is working with us in the office of space commerce to define the size and breadth of the commercial space industry and then more accurately measure it. this is important. recent analysis focused on the more complex issue of economic impact. as everyone in this room knows, space affects our daily lives in so many different ways and we must continue to explain the importance of that impact as we talked to people that actually don't have a full appreciation of it. rice and sia for

traders association which represents about 70 million traders has in the past taken issue with e—commerceey say affect and threatens their businesses. 0ne retailer is also being investigated for the same reasons, as the in delhi —— indian regulator says, it threatens competition laws. it has been a tough week for walmart, the world's largest retailer in india as well, as it decided to sack over 50 senior executives as part of a major restructuring plan. will's main business in india is wholesale trading and while it wants to expand its footprint through it e—commerce venture, it has been held back because of india's strict rules meant to protect its local businesses. while in india, amazon's jeff bezos is expected to meet prime minister at narendra modi and other senior government officials and he is expected to discuss those e—commerce and fdi rules which are making it difficult for foreign eat tailors to expand in what is a very promising indian market. —— etraders. let us stay with amazon because the company says it is bringing back fedex for delivered —— deliveries for some of its pri

chamber of commerce in china he also joins us on the line now in beijing good to have you with us tell us what is the situation for business there right now. one of the core of the no fun 1st of all the airport is primarily closed to point to national alliance spent to have the schools closed we are struggling to consider how to bring all of stuff back show that come to the office on monday genere they have a home office and then of course the distribution problems many counties and even villages have blockades around them and i'm sitting here in a hotel in beijing and i can tell you i'm the only guest right now so if it's not mine if not nice in it it must cost to the economy to a lot of money power companies trying to compensate for this coming paralysis. well let me do i want to experience this in 2003 during sars and which the collapse in the economy in in certain areas particular services in the 1st quarter and that there was a very strong rebound for the rest of the year so i envisage a 1st quarter which is not good but again china have this rebounding capability so as companies

we had chairman risch of the foreign relations committee, chairman wicker of commerce and chairman are also of the environment. we are here because the senate finance committee has voted on usmc a out o mca out of committ. a very strong bipartisan vote we expect the same bipartisan vote on the floor of the united states senate when it gets up there under the parliamentary parliamentarian's decision it was referred to several other committees. these committees are going to hear from some of those chairmen, but in the meantime, it takes just a short period of time for them to do what they have to do on it to get it moving. but, i do not see that as an impediment to getting the u.s. mca passed, and the only unknown thing is whether we are in the impeachment or otherwise. the u.s. mca is very good for agriculture. my state of iowa is number one in the production as an example, or the wheat growing states in the midwest. we've never been able to get our dairy products, poultry, eggs and wheat in canada under nafta, and this is a big opportunity for that. we also have overall from the intern

we have chairman risch, chairman wicker of commerce and chairman barrasso of environment. we are here because the senate finance committee has voted our usmc a out of committee 25-3, a strong bipartisan vote. we expect the same bipartisan vote on the floor of the united states senate when it gets up there. under parliamentary parliamentarian's decision it was referred to several other committees. these committees, you will hear from some of those chairman, but in the meantime, just a short time for them to get it moving but i don't see that as an impediment to getting usmc a past and the only unknown thing is whether we are in impeachment or otherwise. the us and ca is good for agriculture. my state of iowa is number one in the production of eggs as an example of wheat growing states in the midwest. we have never been able to get our dairy products, poultry, eggs or wheat into canada under nafta and this is a big opportunity for that. we also have overall from the international trade commission statistics that it is going to create 176,000 jobs, $65 billion of investment i

we have chairman for mart committee here printed chairman wicker, the commerce secretary environment. we are here because senate finance committee and u.s. mca committee 25 to three. a very strong bipartisan vote. we expect the same bipartisan vote on the floor the united states senate when he gets up there. on the parliamentary, decision, it was referred to several other committees get these committees are going to hear from some of those germans in the meantime it takes just a short period of time to do what they have to do but we do our i do not see that getting u.s. mca past and the only i know is whether we are impeachment or otherwise. u.s. mca was very good for agriculture my state of iowa is number one in the production of eight is an example or the growing straits in the midwest. you've never been able to get our dairy products on aids and elite into canada on nafta and this is a big opportunity for that. we also have the overall straight commission, statistics that is going to create hundred and 796,000 jobs and $65 billion of investment in the united states. 34 billion of t

we only have a small part of usmca in the commerce committee. but the parliamentarian has required that we report it. we will do so on an expert basis, on a bipartisan basis and that will be a quick response next week to moving this along toward reality. >> by any measure, the economy in our country is strong, healthy and growing. and trade contributes significantly to that. if you really want to jump start an economy, you cut taxes, which republicans have done, to get rid of punishing regulations, which the president and republicans have done, and you unleash trade. and we're going to see that with usmca, the environment and public works committee which i chair will be approving it at a business meeting on tuesday. it will be a strong bipartisan vote. the trade certainly very important for wyoming. talk here about agriculture product, beef, our number one cash crop, also energy exports that we have, shrona, as well as, and i would say, it's not just usmca. it is so many of the things that we've been doing along the lines of trade, that japan, a

caution to ensure that and uppprove a vehicle to 2500 vehicles, if they can enter the stream of commerce. we want to make sure that consumers and other entities where we get into one of these vehicles, we want to make sure that you are just as safe in that vehicle as if you or i were in any other vehicle. the benefit challenge right now is that our focus on the research side is really on the fundamentals -- what is the being resolved in the standard and how are we resolving that in this petition? >> my last question -- i will highlight a point that not only are we talking to congress and testify before congress but when we talk about the bill that was passed by the house on the one being considered by the senate commerce committee, we are paying attention to what they are looking for and what their understanding of their own authorities are. the former administrator is over at the commerce committee today so we are working closely with our partners in congress to make sure we are all thinking the same way. that's something i feel comfortable with. your final question -- what does your 20

chamber of commerce. >> good morning and thank you to the chamber of commerce, launching the space economy. our second annual space summit. events such as this are team effort and we appreciate the support of our sponsors, boeing, northrup, rocket lab, one web, hawkeye 360, we have been busy in the past year from policy discussions ranging from management of commercial aviation and space launch airspace to small satellite encryption and the orbit assurance, commercial opportunities aboard the iss and future gateway. we convened a roundtable for the coast guard regarding the need for greater use of space surveillance in the arctic waterways. and space industry council has an effort for policy pursuits. fortunately we have an enthusiastic space industry ceo. and it sums up the chamber's approach to the entire sector for which i will quote. harnessing the potential of space will be no easy feat. it took hundreds of years to create an efficient and will regulated system. but, he added, the vital art of the ec

without some kind of safety construct, there is no commerce. there are some who suggest we're at the beginning of debris creating more debris and creating an overreaching so we can no longer use. we have to be sensitive to that. and without that we have no ability to take event of this trillion dollar economy. whether it's getting to the airspace over or whether functioning once you are on orbit, folks quite frankly have to play well. you have to be sensitive about the debris that you leave. you have to be sensitive about moving out of another piece or another satellites orbital path. i was in the organization in the air force when that was a bad day. fortunately we haven't seen any more of those but it's out there. it's going to happen at some point. >> let me hear from the kind of commercial player perspective on what your needs are and what you are expecting from this to me or tour in five and we are entering into. >> if you want to evolve into a period where we are launching almost like airline taking off and landing at major airports, and

i've been on the energy and commerce committee for a long time. i'm ranking member on the environment and climate change committee which has jurisdiction on this. we're in this debate today because emotion is trumping science. we're not willing -- we're not willing to give the scientific community enough time to say that this class of chemicals is bad, we want to do something we have never done. a ant to legislatively ban chemical by legislative fiat, not by doing the due diligence of the scientific process. i got lectured last night, we get lectured all the time about how republicans don't believe in science on the climate change debate. well, then the contrary is true. democrats don't believe in science to allow us to have an adequate debate on these chemicals. when we come to the floor, we talk about pfas like it's one chemical. pfas stands for perfluoroalkyl or polyfluoroalkyl. there are over 7,800 of these type of compounds. some are long chain compounds, some are short chain compounds. in fact, the f.d.a. has approved pfas for food container

chamber of commerce. >> good morning. it's great to be here. it's great to see you. first of all, i want to thank christian zer and his team for organizing such an excellent program today. i have enjoyed working with christian on a number of important issues to c tek and our member companies. but at c tek, the chambers technology engagement center, we are, wind working to establish national data privacy standard that protects all americans equally and promote policies that enable emerging technologies like artificial intelligence, automated vehicles, and unmanned aircraft to thrive. our goal is to see a workforce that is skilled and prepared for the digital economy. the common thread running through all of our work is the issue of data. without a thriving modern communications network, none of this is possible, and that's why i am happy to be here today to introduce chairman pai. he's the son of immigrants that rose through harvard university and the university of chicago law school. he's worked at the department of justice. he's worked in the private sector and was

let's face it, this isn't just about commerce. all this innovation is exciting for america's youth in the same way that the apollo program was on the and many others when i was a kid a few years ago. just seeing if you're paying attention. it was more than a few years ago obviously. for example, the dubai airshow two weeks ago i met apollo 15 command module pilot who was one of my dad west point classmates, class of 1955. and as i was speaking with out i i was reminded how the program was the driving force behind the generation of engineers, scientists and pilots, myself among them. three of our biggest commercial space innovators, jeff bezos, elon musk and richard branson, say that the apollo missions lit the fuse that led to their becoming space entrepreneurs. our visions of launching beyond the wild blue yonder into space at that time were based on a black and white rca tv and baritone voice anchormen like walter cronkite. today, right from their high depth smartphones, today's kids see the dashboard camera from a roadster that

india is already an investigation into e-commerce giant amazon and wal-mart's flipkart over accusations that the american based companies violated competition laws form on the investigation we turn to legal journalist in jail with america's lawyer. what are amazon and flipkart accused of doing. hi kristie well the complaint against the 2 companies was filed by a group in india that represent small medium sized businesses and they're making accusations against these companies that have been made for a number of years now they allege that several of amazon and flip cards so-called preferred sellers were affiliated with are controlled by the companies themselves either directly or indirectly and remember wal-mart purchased a majority stake in flip car back in 2018 well as a result the country's watchdog group the competition commission of india ordered a wider probe this is according to reuters and the c.c.i. outlined 4 problem areas if you will lead to anti-competitive practices including exclusive launch of mobile phones by these e-commerce companies promoting preferred sellers on their

chamber of commerce in china thank you for converting w. german business has a gender diversity problem only on a 5th of company leaders are women and the further down the career letter doesn't bode well for that improving engineers account for a large portion of the women in top positions but if we look at german engineering graduates no more than 15 percent of them are female that's just a small proportion of the executives of the future being women what's more the bigger the company of the less likely it is to be led by a woman around 20 percent of firms with fewer than 5 employees have female bosses now that number drops to less than 10 percent for companies of over 50 employees so what can be done to bring about greater gender equality let's talk about it with that of us pay holt she joins me in the studio good to have you on the program daniela you are managing director at metalworking specialist paul few men now you've received training in engineering you're heading a mid-size engineering company which are very essential to the germa

chamber of commerce in china found european firms are facing a 4 variety of barriers to participation in both world including a lack of transparency in the tendering process the initiative aims to establish a massive global network of ports railways roads and industrial parts spanning asia africa the middle east and europe. earlier i asked you what give the president of the you trained birth commerce in china to describe some of the problems european companies are facing it's wrong as a signal to the ones that i was here china is a one stop shop i mean they have the iron ore they have the steel they have the train staff the ships and then this challenge with chinese finances to whatever country is willing to basically have these projects and it's very telling that in niger percent of all the added value introduced don't budge on the stays in china so we have a similar situation not only in kenya and in most adult yet other countries where we have this like of access to projects we have their problems years in china not all of a sudden we come across this in other worlds to china you k

as e-commerce grows, items sent has grown.nies like xbo and ch robinson have seen a boom as they buy refrigerators and tires and things by e-commerce. >> isn't this a bet against ai and targeting? some startups argue as software gets better, they'll be more efficient, they'll return less stitch fix makes that argument isn't that going to reduce opportunity for some of the companies if it works? >> according to c barry, they're not at the bottom of efficiency, but lose $50 billion because they don't have efficient retur returns. people want faster, free shipping lot of companies feel they don't have choice but to move inventory. reverse logistics for those areas, these companies have something that a lot of retailers need genz prefer to pick up in store. as their spending power increases this may all shift anyway >> they're old souls, i suppose. frank, thank you >> thank you. >>> as we head to break, let's look at shares of tesla, getting a boost this morning they take the price target up to 515. higher than 420. now the highes

likee backend, companies big commerce focusing on reverse logistics.happens when products get returned. freightway, figuring out where trucks should go to deliver the products. all the infrastructure happening around that will continue to accelerate in the next decade. taylor: we have less than a minute. i wanted to get your thoughts given that we just passed the 20 year of the testy 20 year anniversary of the aol-time -- we just passed the 20 year anniversary of the aol-time warner merger. would you do it again> steve: i would do it a little bit differently. trying to drive the conversions of what we have seen, things like netflix, the ipod. aol and time warner together had the potential to do that but they never worked well together. there was a culture clash, a bunch of other challenges. it is great to see companies like disney bring the whole company together in an integrated way to launch disney plus. i wish we had seen that 20 years ago. thomas edison said, "vision without execution is hallucination." that is what i think about that merger. great

chamber of commerce.> good morning, and welcome to the u.s. chamber of commerce and to launch, the space economy, our second annual space summit. events such as this are a team effort and we deeply appreciate the support of our sponsors, boeing, northrop, rocket lab, oneweb, hawkeye 360, and ascend. we have been businessy over the past year. from policy discussions ranging from management of commercial aviation and space launch airspace, to small satellite encryption and deorbit insurance and commercial opportunities aboard the iss and future gateway. we even convened a roundtable with a commandant of the u.s. coast guard regarding the need of greater use of space-enabled surveillance of the arctic waterways. suffice to say the chamber's procurement and space industry council has an ever-expanding set of policy pursuits. fortunately, we have an enthusiastic space industry ceo here at the chamber. after last year's summit tom donahue bro an articwrote an ar which i will quote. he wrote, "harnessing the eco

real stores and have commerce deliver to us social commerce is huge with instagram and facebook social care, 25% of americans have bought things at the scene on facebook or instagram at this point in so more social commerce is out there frictionless commerce hour you can just take out your route phone wave it had you've paid frictionless could also mean you just go to the store they bring it to says a lot of ships and digital spending more and more spending 80% of all retail spending on advertising to go towards mobile so mobile all all that and a bucket of chicken these days old bull is it in 2020 ok, we'll keep watching those trends and then at last we have to talk about the royals we got megan and harry yesterday had that meeting with the queen the and all that stuff in the ramifications to follow. >>this is something that wall street watching her you particular west bank along that main goal is that everyone should have a trust and they used to be trust babies now of prince harry saying goodbye to the the royal money and the taxpayers basically panama trucks you can start charitabl

chamber of commerce. ajit pai andude steph dickson. >> at sea tech, the chambers technology engagement center, we are working to establish a national data privacy standard that protects all americans equally and promote policies that enable emerging technologies like artificial intelligence, automated vehicles, and unmanned aircraft to thrive. workforces to see a that is skilled and prepared for the digital economy. the common thread running through our work is the issue of data. without a thriving modern communications network, none of this is possible. that is why i am happy to be here today to introduce chairman pai. he is the son of immigrants that rose through harvard university and the university of chicago law school. he has worked at the department of justice. he was first appointed to the fcc by president obama and later was appointed by president trump to be chairman. under his leadership, he has worked diligently to remove regulatory barriers and streamlined permitting for communication technol

can you imagine having e-commerce or uber apps pulled? it's a whole new world and we are only at the beginning of it because we talked about smart speakers, for example. the sales are going up exponentially three digits a year. that has more of a cognitive power. when you hear a suggestion given to you by voice, it's even more powerful in terms of influencing your behavior and if you type in a search and go where google tells you to. we've already seen and we are seen as more antitrust actions rolled out, the power of these companies what they can erase you as a product, as a person. if they want to. it's too much power. >> apple ceo would probably say we are not the problem, we are part of the solution. we have this idea, this concept, differential privacy that we are building into our products. we are not sucking people's actual identifying data out of the device and using that to inform a.i. we are shielding that and taking general insights and keeping ourselves, our own hands clean so we are not tracking in it. is that true? >> i thin

this is bloomberg. >> robots in store, social media commerce to beat amazon at its e-commerce game. those are among the big tech games for 2020. steve case weighed in earlier this week. >> amazon is pretty well positioned. wal-mart and amazon are really duking it out. obviously, they have different strategies but they're starting to converge. one was physical. the other was digital. now they are doing a bricks and clicks type of strategy. >> if the point of purchase is easier than ever with strategy, what about returning an item? in our theory called retail transformed we look at how tech transforms the process. .oining us is eduardo velar tell me more about your business. >> it leverages financial technology to deliver the best return experience to shoppers. >> if you take a look when people return an item, do you take a look at the gauge or the health of the consumer? if they're returning more does that tell you anything? >> we believe that retail is fundamental broken. shoppers have to wait four or five weeks to get their refund. we get shoppers credit immediately so they can buy

this is not just about commerce.ll this innovation is exciting for america's youth in the same way the apollo program was for me and many others when i was a kid a few years ago. i am just seeing if you were paying attention. it was more than a few years ago. the dubai airshow -- i met an apollo command module pilot. he was one of my father's classmates in 1955. as i was speaking with him, i was reminded how that program was the driving force behind generation of engineers and pilots. myself among them. three of our biggest commercial space innovators, jeff bezos, elon musk, and richard branson, say the apollo missions lit the fuse to them becoming space entrepreneurs. our visions of launching beyond were at blue yonder that time based on a black-and-white tv and anchorman like walter cronkite. today, right from their high-def smartphones, kids see the dashboard camera from a tesla roadster that elon musk launched and put into orbit around the sun. on social media, they see 260 foot tall spacex boosters taking -- sti

>> what we are focused on is we take social and commerce. together in a way that is unique that has not been done. we really focus on using technology to help people connect to one another. often, it is through their love of fashion, it can also be what goes on in their lives as a true and authentic connection. taylor: do you plan to expand into retail stores, or do you like to be just online? >> it is interesting to see what is going on in the physical world. so many things are changing in retail. it has been fun to watch. you see brands born online that are opening up stores, and we have physical retailers who own the physical space really building robust on the general strategies. shmark, because we are unique, physical will look different. what we do is we have a very robust physical strategy today. over 1000lly host events and meet ups across the country. we think connection is so important to commerce, we spend the energy hosting the meet ups where people can connect with one another. then they bring the relationships online into poshm

chamber of commerce in china found european firms are facing a variety of areas the pacific dissipate in the project creating a lack of transparency in the tendering process the initiative aims to establish a vast network of ports railways roads and industrial parks spanning the globe. we asked the president of the e.u. chamber of commerce in china to describe the problems foreign companies face it wrong as a signal to the ones that are here china is a one stop shop i mean they have the iron ore they have to steel they have the trains there and the ships and then this element with chinese finances to whatever country is willing to basically have these projects and it's very telling that to 90 percent of all the intro to don't want china stays in china so we have a similar situation not only in kenya and in most of the only and other countries where we have this like of access to projects we have their problems years in china not all of a sudden we come across this region of the world so china you know really is exporting its procurement model. germany's federal and state governments h

with amazon is about amazon having both the e-commerce site and logistics network delivered. >> and its own brand of products. >> and allow for third parties to operate at the same time to have its own brand and product competing. in this case it is about having a store where the third parties tended to do business if they are going to have an app on the platform. but at the same time, having its own on that platform for podcasts or music some competitors might argue you have to pay the toll to be on here and you are competing with me in the same place. >> thank you for decoding my academic want penis. that is exactly right and fundamentally, there are rules in place already to separate networks and commerce. what you are describing is a company that provides a network competing against third parties in ways that are not very transparent and are unfair. and in the financial sector for example, which my last book was about the finance, you have rules. they are not always enforced they say okay, goldman sachs and trade of aluminum, but you cannot own all of the aluminum in the world and c

fundamentally, there are rules in place already to separate the networks and commerce. what you're describing is a company that describes a network computing as third parties in ways that are not very transparent with their. my last book you have rules that are not always enforced but they say you can trade aluminum but you cannot own all of the aluminum in the world in the corner the market which actually was an issue where at one point to get around the rules other companies brought up the ball of aluminum and they were moving it from one warehouse to another to get around the commerce network rule. there is a precedent that does exist a. a. they looked at the idea that political power exists. we are not living in this world of everyone making efficient choices all the time and free markets are perfect. if we think about economics certainly since 2008 but always what they are not perfect. markets do not always know best and they do need rules to function properly. >> host: and in your book that came out in november i believe, came out of november and really puts a spo

emme kraa member of the energy and commerce committee. prescriptionabout drug pricing, what would hr 3 do? would try to reduce drug price increases for americans. we hear again and again on the campaign trail that prices and health care costs are the biggest issue for americans right now. this would allow the united states government health and human services to negotiate drug prices. we negotiate drug prices in our private lives, with unions, businesses, why can't seniors or americans negotiate? it is a market-based principal. republicans and democrats should be able to agree to that. it limits out-of-pocket cost. if your cost go beyond a certain point, both democrat and republican bills would limit that to $2000 or $3000. it puts transparency into the system. energy and commerce investigating took place in increases. there are a lot of different actors playing to these cost increases. we need more transparency to make the right moves politically to make sure these increases don't affect what we have had so far. side,on the business whic

commerce and far beyond commerce between the united states and china. this is something that far beyond even this deal, it is going to lead to an even stronger world peace. we now have a big investment in each other and in getting along with each other. this deal is phase one. we will probably be able to conclude it with phase two. it is something we all want to get done. and it will be a tremendously big deal. this is something that is going to be so special to our manufacturers, our farmers, our bankers, are service people. nobody has ever seen anything like it. this is the biggest deal there is anywhere in the world by far. and that is good, we are doing another big one next week. . but this is the biggest deal anyone has ever seen. it can lead to being a deal that is unprecedented. china has 1.5 billion people. ultimately, in phase two, we will be opening up china to all of your companies. i hope you folks can handle it. now i would like to ask ambassador lighthizer and secretary mnuchin to say a few words please. [applause] amb. lighthizer: mr. pre

we'll talk to the head of the chamber of commerce. he once gig workers left alone and is begging for one big type of government spending we'll get to that. >>> plus nfl hall of famer terrell davis is here, his surprising super bowl champion pick >>> and bed bath and bust. no more analyst replies and a $58 million mortgage can you imagine? we'll talk about it. that's ahead in rapid fire seema mody with more. >> record highs for the s&p dow and nasdaq, up about 176 points for the dow industrials simmering u.s. and iran tensions seem to be the major driver of the stocks today as we were discussing technology and a handful of industrial spots, but it's worth pointing out it's not just in the u.s. check out emerging markets today, india, turkey, china, higher by around 2%, turkey up 4% in this cooldown in middle east tensions. that's certainly been a global story for markets today. beijing also confirming its vice premier will be heading to washington for signing of the phase one trade deal, president trump in the last hour saying today th

chamber of commerce in china to describe the problems foreign companies face. it's wrong as a signal to the ones that i hear china is a one stop shop i mean they have the iron ore they have the steel they have the trains there and the ships and then this island with chinese finances to whatever country is willing to basically have these projects and it's very telling that in 90 percent of all the added value introduced done by china stays in china so we have a similar situation on sunday in kenya and in most of the only and other countries where we have this like of access to projects we have their problems years in china and all of a sudden we come across this in other worlds to china you know really. exporting its procurement model japanese federal and state governments have agreed to phase out coal energy by 2038 the 1st coal fired power plant has had to go offline this year if plans to shut off the remaining facilities over the next 18 years the move will come at some cost to the state operators will receive around $4000000000.00 euros in compensation the s

where, as commerce secretary, tonight do you see the u.s.in 2020? >> i think the u.s. economy is in very, very good shape. the main argument that the naysayers have is that it is 11 years into recovery but i have news for them. rallies and recoveries don't die of old age, something has to kill them, either hyperinflation, oil crisis, something like that. i don't see anything on the horizon. instead there are some real pluses coming in. the settlement of the arrangements with the u.s. nca is going to be a huge, powerful influence. the international trade commission estimates on average it will be some 370,000 jobs added as it gets rolling. the new agreement with china should be very, very powerful. $100 billion a year for the next couple of years. that alone is half a percentage point on the economy. sooner or later, bo and hopefully get the 737 max back flying. that's probably been a quarter of a point drag on the economy, so those are a whole lot of things that have to be coming in as a positive, superimposed on the momentum that we already

e-commerce. not talking about libra specifically. you saw them walking back from thewhatsapp as well opening door for business services and payments. diversification versus advertising is not really capturing expectations. year isare seeing this they are coming out and showing progress on many of these fronts. that could change the narrative. taylor: we have been talking about whatsapp as a way to get into some other business opportunities. >> this has been the discussion around facebook for a number of years. can they figure out a different business line from ads? advertising has worked well for them but e-commerce and instagram, payments with whatsapp and possibly messenger -- these are big opportunities. one thing whatsapp is doing or businesses is serving as the don't for businesses that have a website or another kind of software system to send a receipt via email. you could send a receipt via whatsapp and charge the business for that. this is what facebook envisions in terms of diversification. but again, they have been talking