the csi 300 is down by 3.2%.ince march and now holding at march 20 fifth lows. hitting a 52 week low. going back to the u.s. and china talks, i guess the hope is that this could set up a meeting between the chinese president and president biden at the meeting in october. >> that is right. that could be a venue where the two heads of state would be able to strike an agreement on how this relationship moves forward. there has been competition between the u.s. and china and it could tip over into confrontation which would be bad for the entire world. setting some goals for the relationship would be a big achievement. there has set -- there has been some talk about confidence building. that is something everyone is looking forward to in october. juliette: executive editor for greater china with us. let's go back to the csi 300 extending its decline, down by as much as 3.2 percent. if it holds, it will wipe out the gains from 2020 one. a lot of selling coming through in the hong kong and china markets. can see the h s

let me give this example ended comes out of materials csis put together.he need is great, as charlene mentioned, and the need is basically $28 trillion of infrastructure funding through 2030 in asia alone. $26 trillion. the chinese belton road initiative promised less than one trillion. so you see a huge funding gap and it's not going to be built by governments. between 2015 and 2019, g7 countries provided $113 billion in additional assistance for foreign infrastructure progress. government funding, great to have it, nothing near what is required. what's required is the private sector. the same g7 countries have $110 trillion in private assets. pension funds and mutual funds, sovereign wealth funds, the trick is going to be can we get that money off the sidelines into infrastructure projects? in that same time, only $22 billion of that went into infrastructure projects. you can see the and norma's potential. the projects need to be structured in such a way that they are attractive to the private sector. a lot of people think the key thing will be for the g

will you csi 300 to gauge the input? we notice that 15% of these ratings come from industry groups that would be prone to potential regulatory clampdown. that would be the internet, education, health care, as well as welfare industries. 50% of the ratings come from these centers. thereby, we came with the conclusion that we think a-shares should be well supported given this exposure. plus, the monetary support will come through. they are worried about the impact of the market. yvonne: it seems like mainland traders are not coming to hong kong to buy on these dips. they are become of the next sellers of stocks here. you see that trend reversing in any way? >> i think it will come from the earnings season. it will be quite mixed. i think the mainland investors will be quite concerned. which will be the industry groups and specific names that will see some potential earnings? we think there is still some hidden gems in the industries that are very sensitive to the regulatory risk. we do think that the cyclical industries ha

you see the top of your screen, philippines, 1.1% on the csi three 700 -- csi 300.how that breaks down. 20 out of the 21 or 22 are actually down substantially within that market. the last couple of minutes or so has seen some curbs and restrictions out of the philippines, 1.3%. consumer and discretion taking a massive hit on the back of whether it's travel restrictions and stricter rules within the capital as far as movement is concerned. according to local media, doesn't bode well when it comes to momentum. we were hoping to get gains today. but we are looking at the msci pacific here, by the way, no buying signal emerging just yet. far from it still at this point in time. yvonne: still watching from property stocks, as well. it still leads to a lot of questions about the financial risks we're seeing in that part of the specter -- the sector. china regulators will strengthen the control on financing of the property sector and improve existing financing rules for these developers, so you are seeing soon act china down close to 3% and you're seeing ever brand once ag

, and a conscious on afghanistan with here at csis. i am grateful to ambassador janice jacobs who's a former u.s. ambassador and former assistant secretary of state for consular affairs to help give us a better perspective on sivs and visa processing. i'm also really grateful to ambassador ryan crocker, someone who i really admire his former u.s. ambassador of afghanistan, iraq, and pakistan and an adviser to an organization called no one left behind. an advocacy group that focuses on the siv process. and finally, last but not least, i'm grateful to have jill bussey, who's the director of public policy for the lutheran immigration and refugee service. jill focuses on the administrative advocacy and key immigration areas. one of those being the sivs four afghan wartime allies. and has a lot of information on the situation in afghanistan. and is going to bring a lot of relevant information to this conversation. thank you all for joining me today. i want to remind our online viewers this is an interactive online event. i invite you all to

i've been at csis for almost 10 years and i can't think of a more high penalty -- high-powered panel that we've had or that i've had the chance to moderate. i'm looking forward to this and i think you will enjoy it as well. i'm going to introduce the panel in just a second let me set the scene by saying, this is actually infrastructure week, east -- at least at csis. as we all know, there has been some -- i don't want to jinx it, but some progress on capitol hill on a domestic and for structure plan, $1 trillion of spending on it for structure, we have also been here at csis on trilateral cooperation among japan, australia and the united states on trying to move forward in international instructor -- infrastructure initiative of their own. and the g7, the group of seven advanced market democracies, as i think people know, back in june when they met in britain, agreed on something called build back better world, which was their name for a global infrastructure program which they are going to do together, work on together, and they described it in the white house fact sheet describing

and it really is a great pleasure to see you, and thank you to you and csis for programs that foremost and educate as an bring the world to us, so thank you very much. so today, this morning, for me also i would like to talk a bit about how we think about act a and covax. because it can sometimes be confusing and yet it's very interesting. it's a new model for the world and we think an effective model. so let me begin. in april 2020 the access to covid-19 tools accelerator which we'd given the acronym of act a come was established in several global health partners. so that we could respond to covid-19 pandemic. it ceased to ensure for fair and i couldn't access to new covid 19 tools, particularly for low and middle income countries. acta brings together public and private to indicate come to find solutions, to collaborate and it's at a scale never seen before. it is a global solution for a global problem. it tends to accelerate development production and delivery across three product categories, vaccines, therapeutics, diagnostics all targeting covid-19. and it aims to score a fourth c

csi 100 down by 3.5%. the csi's down almost eight percentage points in three sessions. many people stateside right here in america, focused on american markets, will be asking the question why does this matter to me? what is the dominant transmission mechanism that you would be concerned about at the moment? brian: that is a great question. a broad risk off, that we saw for a few brief moments. treasuries really -- down toward 1.1%. the fed definitely can go lower. i think if that equity scare continues, rates will fall again. everyone expects them to go up. the summer is quiet. i think a risk off position could force recovery rates even lower. this is not a one-sided opportunity. jonathan: good to catch up, brian weinstein, morgan stanley investment management head of global fixed income. -- meeting content -- concludes tomorrow with chair powell. tom: i would suggest the meeting has changed because of covid in the news from mayor de blasio and the state of california. jon, i'm sorry but it is a change meeting from where it was five or six days ago. jonathan: their vie

special thanks to our csis production team. we are delighted that c-span could join us today to broadcast this event. we have one hour, a lot of ground to cover. i will offer a few additional remarks on this moment we find ourselves in. jennifer will offer some opening remarks and you will hear quick opening remarks. a conversation will follow. in terms of where we are now, this moment, this conversation occurs in a moment of major transition in the covid-19 pandemic. there is no avoiding talking about that. i'm sure we will. we are at the 18 month mark and it is a moment of -- we saw that last night in president bynum's impassioned speech announcing major federal approaches to vaccinations. we saw it earlier in the week by changes to cdc masking and last night in the release of the cdc slide on the delta variant. we know now that we are facing a virus in the delta variant that is a new level of danger, destructive power and pernicious nice. it is winning and -- perniciousness. it is winning in many parts of the world. you have

he is a senior adviser at csis. he has been a conscience on afghanistan with us here at csis. i am grateful to ambassador janice jacobs a former u.s. ambassador and former secretary of state for consular affairs to help give us a better perspective on sivs and visa processing. i'm also grateful to ambassador ryan crocker a former ambassador to iraq afghanistan and pakistan and advise or to no one left behind an advocacy group that focuses on the siv process. and last but not least i am grateful to have jill marie bussey who is director of public policy for the lieu than refugee service. jill focus on administrative advocacy in key immigration areas, one of those being sivs fo wartime allies and has a lot of information on the situation in afghanistan and is going to bring a lot of really relevant information to this conversation. thank you all for joining me today. i want to remind our on line viewers that this is an interactive online event. i invite you all to participate by submitting questions to our panel. to submit questions go the your web page at csis.org and click on

the csi 600 lower by about 2%.are seeing tech stocks in particular that have seen that selling pressure here today. the dollar is firmer across the board. you can see that across most e.m. asia. oil, though, still remaining a key focus as the countdown to this opec deal in limbo. this is bloomberg. ♪ [ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪ so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional e

stephen morrison where i head up csis's work on global health. this events is -- event is sponsored jointly with the kaiser family foundation, a close partner over many, many years. my co-host is jennifer kates, also a close friend, who is the senior vice president at kaiser foundation. we've been in the habit for two decades of jointly organizing these events. we have with us in person this morning two good friends and noted h.i.v. experts, chris beyrer and maureen goodenow. chris is professor of epidemiology at johns hopkins bloomberg school of public health and president of the international aides society. maureen is associate director for aides research at the national institutes of health and director of the n.i.h. office of aides research. we have coming in remotely adeeba kamarulzaman, president of the international aides society. welcome, adeeba. she's a former dean of the faculty of medicine and is a professor of medicine and infectious diseases at the university of malaya in kuala lumpur. thank you, adeeba. delighted to have you here to

the csi 300 down 2%, the worst two days since may 2020 as beijing cracked on private education. this is a continuation of the clampdown we saw last november, when they halted the ipo of ant and recently on didi. the stoxx 600 down a little bit. the s&p 500 index, the tech index down just a little bit, so not a lot of contagion from a risk sentiment standpoint yet. however, when we take a look at the golden dragon etf, down 3% over the last three days, down about 15% at the lows. that was the worst three days since 2008. if we put it into the perspective of the s&p 500 versus the csi 300 over the last year or so, we are going to see a massive divergence. are we going to see some sort of contagion if we flip up the board -- contagion? if we flip up the board, we can take a look at the divergence between u.s. shares and china shares. china shares down sharply, so the question is not from a contagion standpoint of the regulatory issues from china heading to the u.s., but just the risk aversion. dani: abigail, thanks so much. both the u.s. and china are highlighting deep differences,

and is a conscious on afghanistan here with us here at csi f and i'm really janet jacobs, former secretary of state, for consular affairs to help give us a better perspective on sib visa processing and also really grateful to have mr. ryan crocker who i really admire is a former u.s. ambassador afghanistan iraq and pakistan and advisor to her innovation called no one up behind advocacy group that focuses on the sib process. and the and finally last but not least, very grateful to have the director public policies. the train immigration and refugee services jill focuses on the efficacy and one of those being the sib for our allies and has a lot of information on the situation of afghanistan. that is going to bring avon tough really relevant information of conversation. thank you for joining me today nevada quickly minor online viewers is an interactive online event. i invite you all to reduce pain through civic questions to our panel. just a million questions please go to our webpage and click on ask live questions here button. enemy start with you ambassador, you been a real partner with m

the center for strategic and international studies (csis) hosts this one-hour event. >> good day, everyoneoodman.

stephen morrison where i head up csis's work on global health. this events is -- event is sponsored jointly with the kaiser family foundation, a close partner over many, many years. my co-host is jennifer kates, also a close friend, who is the

this failure comes as the country is mired in its worst economic csis in decades.turkey is marking the fifth anniversary of a failed military coup, 250 people died and thousands were injured when a military faction tried to as to the president. the sweeping political crackdown and mass arrests followed. you are watching dw news. we are covering angela merkel's final visit to washington as the german chancellor. we are waiting for a joint news conference between president joe biden and the german chancellor. we have to say goodbye to some viewers watching us on the pbs channels in the u.s.. for the rest of our viewers, we will go live to that press conference as soon as it begins. german chancellor angela merkel is in washington on a farewell visit to the united states. she and president joe biden held wide-ranging talks today covering climate change, the pandemic and global security. the two leaders are do to give a joint news conference shortly and we are going to cross over live to that at the white house as soon it begins. ■■■■■■■ >> heavy rain in europe proves

we are seeing marginal gains on csi 300. up about a 10th of 1%. we talked about the chinext.ding those gains. the star board up a third of 1%. here is what we are watching when it comes to currency. the yen continues to go from strength to strength. talk about the five-year highs when it comes to the basket. when it comes to the offshore women be, 65480. taking a look at your bond yields, pretty stable at

csi is the leading organization for the space industry, creating tens of thousands of u.s. jobs focused on building a growing space economy focused on science -- supporting science, academia, business and government. the industry's leading the world today thanks in part to the public-private partnerships this committee has supported and continues to support. as a result of private-sector innovation, the u.s. has seen an increase in the number of launches and number of satellite deployed in orbit, providing critical capabilities including broadband internet, earth mapping and environmental monitoring. ensuring of global commitment to say he and space sustainability have never been more important. space situational awareness represents the most pressing issue today, as access to timely tracking data is essential for ensuring continued safe operations in space for all. csf has recommendations from the space sent nasa to transfer activities to the department of commerce and acknowledges the committee long supported doc in leading this mission. doc commenced developing the data

the hang seng and csi slump as beijing cracks down on education companies.ring up for more fed induced volatility. the s&p 500 hit another record on friday after strong corporate earnings. bitcoin surges amid shortcomings amid speculation of amazon's involvement. we will talk crypto. looking at the futures picture. 20 seconds to go. futures have been firmly in the red this morning. european equity futures remaining so. nasdaq futures have raised their losses, gone to flat and slightly positive. european equity market futures firmly in the red as you can see from this charge. as we get another week of trading underway, let's think about where we are. how much read across is therefrom china's continuing or latest iteration on tech crackdown in china? into the european markets? u.s. markets? that remains one of the big questions of the morning. may be direct linkage is not great but if the chinese financial system is becoming more detached from the rest of the world, and that is part of what the ed tech clampdown is driven by. the cac 40 down by 0.6%. and the i

it's not surprising there the csi 300 underperforming on the broader u.s. markets.aying it could be a good opportunity to invest in chinese tech. emily: we will have to see how this plays out. thanks so much for joining us. ok, coming up, the future of shopping could be sooner than you think. after the break, find out who instacart is teaming up with as they look to get groceries to your door more quickly. snap arising in late trading after increases in daily active users. it seems that investment in content and creative tools managed to lure young users and the advertisers trying to reach them. this is bloomberg. ♪ emily: we are watching senator amy klobuchar make -- introduce a bill to make online platforms like facebook and twitter legally liable for misinformation about health issues, including covid-19. this coming less than one week after president said that misinformation about the vaccine is killing people, in his words. it has no cosponsors at this point. teaming up with a tech startup to equip warehouses with robots, part of the effort to speed up delivery

i've been at csis for almost 10 years and i can't think of a more highen

what is also telling, tracking on the csi 300. have a look at volume and turnover. i've hundred billion dollars on a single day. that is one to watch. we were talking about how state media and some signs the national team might be coming in. what are we seeing? rishaad: these are some of the headlines coming through from various newspapers. chinese investors seem to be pessimistic about the stock market. china expected to increase fiscal support. yvonne: they were talking about seeing more fiscal measures as well on the back of these macro policies that we are seeing in the second half. the messaging seems to be calm down, things are going to be fine. >> what's happening is a good thing because what the chinese government is now doing is cracking down on the big companies that dominate various sectors at the exclusion of smaller companies. >> the more issues they are, the better it is for us. >> there's always this political risk. >> you question their exposure. >> foreign investors will have to have a clearer view of sectors which are investable and sectors which a

we are near lows when it comes to the csi 300.us: this goes to a broader conversation, doesn't it? what is going to happen to global tech as the chinese take their tech to rein. it is july 4, happy july 4. i think it's interesting what alan said about the flow of money into the equity markets. seven records anaren, -- in a row, and that is a question whether that momentum can continue in the second half. we will see what the risks are for policy, tightening and regulation. dani: exactly, a lot of risk and potential volatility for what is normally a calm a month. coming, we continue the opec conversation, the standoff between saudi arabia and uae, currently in limbo ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinit

csi 300 flat. we will roll this over but then again, what else are we seeing? yvonne: we are heading around 74, 67. the market taking this a little bit more -- more negatively than expected when it comes to this print. we are taking these pictures of beijing, the natural --national bureau of statistics. we are waiting for their commentary about the recovery. what they are seeing here at the moment. nothing to mark right now. we are having a key live going. check it out on commentary. rishaad: perhaps just unpacking the raw numbers. let's get to what we have right now. and get some perspective. helen shall. try to economist at bank of america securities joining us now. what are you making of this? ms. chao: the whole set of numbers looks better than we and also market expected. i would say some of them show the overall growth respect -- perspectives are relatively ok. it is pretty resilient in terms of ip and retail sales. at a time when many people are saying china consumption is still very sluggish -- rishaad: it showed softness. on the retail side. it did not

the csi 300 down by more than 3%. not pretty to kick off the trading week over in asia.om: the hallmark of "bloomberg surveillance" is to talk to experts. we had that from the professor of the london school of economics, and we are absolutely honored this morning to bring you david goldman, with his tenure at vanke of america, definitive -- at bank of america, definitive uncross cross asset analysis. he is the business editor of the philosophies and realities of china. is president xi redoing mao? david: president xi is not redoing mao, but he is taking a populist turn. if you have massive resources in a situation where the average chinese family already spends a year's pay on tutoring, you have a privileged class of rich people who have a much higher chance of getting their kids into a top university. so by forcing tutoring into nonprofit, it is effectively saying we are leveling the playing field. there's a broader aspect to this. look at one of the worst performers, down 14%. that is because the government said you are going to have to pay your drivers minimum wage at

the csi 300 index rebounded from early losses. the china index also gained so those indicate that those fears investors had that this may be a broader attack on profitable industries are starting to subside. indeed, there was -- many believe beijing will not seek to annihilate an industry that plays an essential role in grooming its workforce but this does drive a lot of fear among investors. haidi: sally bakewell. still ahead, we take a look at the sports scene during the pandemic and how it has been impacted. the asia strategy with the executive vice president, scott leavy. facebook taking a beating in extended trade. a disappointing earnings report. we get the details, next, and the growth forecast. this is bloomberg. ♪ shery: facebook shares slipped in after hours trading after it took a cautious tone on the outlook for the rest of 2021. the social media giant says it is facing ad targeting headwinds including apple's new rules on its platform. >> we know businesses are experiencing challenges because of platform changes. we w

lucrecia: what we are seeing now is the overlapping of the political csis with the econom crisis andlth crisis. the health crisis is not only a problem with the vaccine. we have less than 2% of our population vaccinated. right now, we are in the third wave. we are seeing record figures of cases and deaths. hospitals are saturated. the health workers are burned out. that is why we saw health workers yesterday participating and joining and supporting the national strike. the government is very reluctant in resisting to take measures to control the pandemic. amy: i want to thank you both for being with us. we will continue to follow the situation. lucrecia mack and andrea joining us from western guatemala. i'm amy goodman.

lucrecia: what we are seeing now is the overlapping of the political csis with the econom crisis andlth crisis. the health crisis is not only a problem with the vaccine. we have less than 2% of our population vaccinated. right now, we are in the third wave. we are seeing record figures of cases and deaths. hospitals are saturated. the health workers are burned out. that is why we saw health workers yesterday participating and joining and supporting the national strike. the government is very reluctant in resisting to take measures to control the pandemic. amy: i want to thank you both for being with us. we will continue to follow the situation. lucrecia mack and andrea joining us from western guatemala. i'm amy goodman. anchor: this is "al jazeera." ♪ anchor: hello. you are watching the news hour live from london. in the next 60 minutes, getting out of afghanistan, foreign troops withdraw and the exodus. american forces given sanctuary in the u.s. along with their families. torrential downpours across northern india. a double

stephen: criminal mastermind. ( laughter ) you can see it all play out in the new cbs crime drama -- csid we've already caught him. ( laughter ) also, worth noting: he plugged his youtube channel during the insurrection. reminds me of when john wilkes booth jumped onto the stage and shouted, sic semper like and subscribe! ( laughter ) next up in the lasso of justice upscale capitol rioter and woman who really should've worn a black square over her face that day, sandra weyer. weyer was arrested monday after being caught encouraging an assault on a "new york times" photographer during the capitol riot, yelling, "get her out, mace her!" that's scary, also dumb. (as rioter) quick! attack the person currently taking photographic evidence of what we're doing to her. make sure she gets your good side. weyer explained her actions, saying, the photographer was anti-maga, let's put it that way. let's put it that way? anti-maga is not a euphemism! (as gangster) i just found out that jimmy's, how do i put it? an informant for the government. let's put it that way. ( laughter ) and i want you to, an

this chart shows how the golden dragon nasdaq index has underperformed with the csi 300 given the tech crackdown. >> yeah, there is no question about it. it has created a tremendous value and risk at the same time. there are legitimate risks investing in china. alibaba has become our top position over the last month or so. we have been adding aggressively in the range between $199 to 210 bringing our basis below $210. we think the key risk people are scared about delisting. you have 248 chinese companies listed in the u.s. with $2.1 trillion of market cap. we are betting cooler heads are going to prevail. it is not in the chinese government interest to limit access to the robust capital markets of the world should that would impair their ability to grow jobs domestically. it would impair their ability to innovate domestically. for those people saying institutional managers would buy the shares in hong kong, we recently got a warning that hong kong is not the safest place to do business. i think it puts the chinese government in spot we are going to have to come to the table between dz

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weighing into the hang seng tech index and the overall hang seng which is extending losses and the csi 300 approaching a bear market. let's look at how this has all played out over the course of july. it has been an incredibly bad month. combined market cap falling by $1 trillion this month so the question is which sector is next, how long is this contagion and do you buy the dip? jeffries is saying not yet hunt for alternative growth sectors. in said -- anz saying all of this could lead to slower growth for china so a lot of concerns in the overall regional bench mark. manus: juliette saly with the contacts on the markets. the dealmaker and the results deliver. it says it will buy a technologies company. 2 billion euros. it is a french consulting firm that specializes in high technology engineering and according to the statement -- it says it will combine the business with his own engineering and i.t.. joining me now, the man behind the deal. great to have you with me. i look at this deal. why do it now and in technology? are you worried about the growth prospects in the traditional i

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jonathan: the csi 300 down more than 3%. earnings season picking up time. tom: carl riccadonna, always wonderful at bloomberg economics, bidens plan will be inflation light. that is like the champagne of beers, miller lite. jonathan: thank you for that, tom. is this about addressing the supply-side story? let's get to michael cushman, morgan -- michael kushma, morgan stanley cio. let's talk about goldman. "in the near term, a complete service sector recovery will likely overcome virus fears and return to work office patterns. both look likely to take longer than anticipated." both issue a downgrade to forecast growth. what is the view at the moment? michael: our view in investment management is that a slow down of some degree is not necessarily a terrible thing for the economy as a whole. we were growing very fast with almost double digit pace in the middle of this year. in terms of how much is inflationary, how much is permanent, modest downgrades in growth with a little bit longer time frame in terms of getting back to normal because of the rise of the de

take a look at the csi 300 health sector for the health care gauge. you could see a bargain underway given the valuations for that index have fallen to the lowest in four months. this as you see long-term gains for the industry after short-term -- short-term pace for the oncology industry in china. switching out the chart right now with the midweek check on the grr function for the msci apac index. several analysts are seeing upside risk for oil prices and we have seen energy stocks outperform this year in the region, even as inflation areas have kept a lid on gains for inflationary stocks in asia. haidi: coming up next, sydney's lockdown is expected to be extended for another week as officials signal an approach on restriction. the rba takes its first baby steps to taper its qe. joining us to discuss later this hour. this is bloomberg. ♪ >> i'm vonnie quinn with the first word headlines. the white house says it's encouraged by ongoing opec-plus talks. it's confirmed the administration has spoken with officials from saudi arabia and the united arab em

relatively well when you compare them either with hong kong or the chinese mainland, represented by the csirtainly today we are seeing declines in u.s. trading among the likes of alibaba and other internet related adrs. taylor: i think what is fascinating about this story is there were hits that -- there were hints that china was doing this to hurt u.s. investors more than chinese based investors. is there any recourse from u.s. investor perspective for didi when they thing about going public, and then less than a week later, this happens? dave: you would think there would have to be some disclosures related to this. it is really a matter now of things being sorted out, and we are seeing declines today among the securities firms that underwrote the initial share sale in the u.s., so no doubt they will be dealing with the consequences of what has happened over the past few days for a while. by the way, we should note in terms of what is going on with weibo the idea that someone would come in and potentially do a deal, it is not entirely a surprise. certainly there's an incentive to get out f