we have more on the ute -- on the unique dynamics from florida, particularly the age dynamics.he mayor of miami beach will join us. this is bloomberg. good morning. ♪ francine: this is "bloomberg surveillance." let's get straight to bloomberg first word news in new york city with ritika gupta. ritika: deaths from the coronavirus pandemic have top 500,000 worldwide, and the total number of cases surged past 10 million, according to the world health organization. the u.s. and brazil account for almost half of new cases. states such as texas, arizona, and florida have become overwhelmed, reversing plans to reopen their economies. there has been an attack on the stock exchange in karachi. authorities killed four gunmen before they could enter the building with grenades and automatic rifles. one police officer and two security guards were killed. president is rejecting a report that russia paid bounty for american and allied troops to be killed in afghanistan. the president says u.s. intelligence agencies did not believe the information was credible and did not brief him on the whit

and the dynamic this is mentioned the. need to do a great job. not on not on the other models as well. out of our icy. d.n.a. so i. think. it's all about balance with supposing i was knighted but is still all that said. the opportunity that. still lost my reading it. has a cost my really good visceral visceral experience. became an g.t.s. is a real pleasure to drive a porsche active suspension management makes the car 20 millimeters lower that means improved driving dynamics and the precise handling a sports car needs. as usual with g.t.s. models black details of found on the camera for example the 20 inch 10 spoke light alloy wheels especially striking the porsche ceramic composite race with its yellow calipers. at the rear the cayman brandishes dark tinted l.e.d. lights and black lettering the exhaust system with twin tail fights rounds off the sports car look. black alcantara suede gives the interior of the porsche a sporty flair. to sum up both inside and out the cayman g.t.s. will spoil you on the road. but there is one question that's takin

these are the dynamics that we see these days.i don't think it is that surprising that we are taking a step back. i wouldn't necessarily think that this is a sign of panic either. macro perspective policy center founder and president. we are live on bloomberg tv and on bloomberg radio, getting you in shape for the trading day. your morning this morning shaping up as follows. by around 2% on the benchmark. yesterday, nowhere to hide. staples and utilities even though the sectors were down around 40%. a big bid through the week on 10 year treasuries down almost 20 basis points from last friday. this friday morning,$m we come p about four basis points. college 0.71% and a foreign-exchange to found -- call it 0.71% and a foreign-exchange. the aussie back on top. that is a reflection of the improving risk appetite. i was really thunderstruck by the reaffirmation of optimism off of the current yesterday by the bulls. many of them just didn't blink and i over that huge movement. there was no place to hide yesterday. some of wall street h

you may have seen some of the nice images of the dynamics of that. interplay that goes on in the corona of the sun, the upper atmosphere between the charge gas and the magnetic field drives what we call the solar wind out into space and out towards the earth and other planets. that's a very gusty wind. occasionally there are major injections of solar material towards us injections of solar material towards us that can cause some pretty hefty disruption to the earth space and technology in it. we are trying to get close to the sun carrying a set of instruments that will look at the corona be able to view it in different ways of light. also carrying a set of instruments that sampled the solar wind that is coming out past the spacecraft. between those two things we are looking at what's happening on the surface, looking at the source of the wind. and then seeing the wind coming up past us and just trying to connect those two things together to understand exactly how this magnetic dynamics of the sun behaves. ideally, hopefully, understand the science be

i was going to ask in terms of the power dynamics. someone like the british officer, he's a major, he's mature and has material wealth as well. younger officers will have both a lack of mail maturity and will have probably less financial resources. not always but in general. do you see in any of the other cases you have looked at, evidence that the power dynamics and in securities that can be imposed are in a sense mitigated when the british officer is a 14 or 15 year old who in essence needs to be muttered. that is a great question. it certainly plays into this. there is not, i wish there were more documents detailing what is going on within these occupied houses. for example, sarah logan fischer has an officer in her house and mentions that he is quite young. she does talk about having dinner with him and talking about his family beckoning gland. it seems to be getting at some of these generational differences that you are suggesting. i think one of the bigger issues icy playing out has more to do with class than age. a lot of the s

a terrific update on the dynamics we see off of interest rates and off dynamic and stronger euro as wellhed for city tournament to go and you will hear extended conversation with edward morris on hydrocarbons and commodities which will be in the for clock hour this afternoon. please stay with us. it is jobs day in america. this is bloomberg. ♪ >> there is a brewing frustration among african-americans that they are not living the full extent of the american dream. >> the most pressing problem we face right now is high levels of unemployment, caused by the pandemic. that adds inequality. >> we are in the middle of the coronavirus, and african americans are dying at great numbers then what they represent in the states and nation. >> the people suffering most, in terms of disease and loss of jobs, our people in the bottom end of the income spectrum. a medium wide of american family is $170,000. the net worth of an immediate intermediate -- >> you cannot legislate away racism and it still exists. disparity still exists. tom: good morning, everyone. some of the voices this week on this amazing

think what we need is radical reform i don't think you can expect to change any of these kinds of dynamics of violence in the policing system if you don't have levels of accountability studies have shown that many white lease officers have of more racist and racial insensitivity issues than the general white. population we see that it's almost impossible to convict. a police officer for the killing of african-americans i think in minnesota that only happened like once a soul yeah that the end of the police i think the end of policing as we as we understand it now i think there needs to be a policing that is accountable to those communities that the police what we know now is that most police officers do not live in the communities that they police so we need to change those those kinds of policies there's no real talk of reparations being paid to black communities that have been systematically underfunded over over generations but one monmouth institute survey claims that of the people that responded 54 percent thought it was possibly justified to burn down a police station that's white an

think what we need is radical reform i don't think you can expect to change any of these kinds of dynamics of violence in the policing system if you don't have levels of accountability studies have shown that many white lease officers have more racist and racial insensitivity issues than the general white. population we see that it's almost impossible to convict a police officer for the killing of african-americans i think in minnesota that only happened like once and so. oh yeah that the end of the police i think the end of policing as we as we understand it now i think there needs to be a policing that is accountable to those communities that the police what we know now is that most police officers do not live in the communities that they policed so we need to change those those kinds of policies there's no real talk of reparations being paid to black communities that have ever been systematically underfunded over over generations but one morning with the institute survey claims that of the people who responded 54 percent thought it was possibly justified to burn down a police station th

scientist in molecular dynamics in protein structure itself why would our chief scientist see a medical offices here in london the downing street then tell us that it depends on our north whether we can go out of doors or see our relatives what they really mean is this whether the number of cases are increasing or not and i think that anyone in 2 to 3 would say that if the number of new cases today is less than 100 new cases yesterday we're going to before then we are not growing rep a sickly sorry down and there's been a case in britain for many many weeks now let's just get to the fact that obviously we have more than 60000 that certainly excess death figures may be here and before boris johnson's top scientific scientific model or neil ferguson left his position he claimed that without social distancing. basically the deaths could be 250000 deaths here in britain in the u.k. he actually actually came out over estimate well i think the difficulty here is that you know. that number was based on various assumptions i got to a different number based on observation without any assumption

we started to change the dynamics in marriage and the dynamics in statistics involving us. our generations is working on making things change. no one looks at us and seeing the power that we have to make for this generation and not just waiting for the next layer of statistics come out. until we can get an honest dialog on the right out into the ether, then you're going to keep on having, you know, fake news media spread lies because we are there giving another choice how these things could be done. and it's going to continue to go left if we aren't there giving an option to make it go right. and that's like the biggest thing that we're having trouble with on the right is like, understanding how government works. we are a republic, that means local government has the most power over citizen's lives as well as how to take that and put it into a cohesive message that can be spread to the black community that will already engage upon what we already know. if we look at like the photos of you before you became president and you were taking pictures with snoop and the icons of h

and so perhaps the best way to illustrate the dynamics is to turn to their households themselves. so i would like to share four examples with you today to trace how households functioned as sites of conflict in british occupied cities between apothecary, between enslaved women and slave holders in charleston. and between two sets of husbands and wives in philadelphia. and then i'll conclude by considering how americans re-imagined these contested domestic spaces in the post-war years along shifting cultural ideas about the private household. and so taken as a whole, these episodes will demonstrate how fully occupation disorder domestic power hierarchies and suggest that these wartime struggles contribute to new understanding of the home and its role in american life. all right. so at its broadest level, occupation disrupts urban environments routines. the sheer number of soldiers, camp followers, refugees, livestock associated with the british army not to mention civilian inhabitants taxes the surrounding regions. civilians require passes to leave the city within they're forced to

it's very dynamic so. as a racing driver that's when you want you want to car which is. very tightly package so that's what i meant to do yes yes. g.t.s. stands for grand tour is most sport in 1964 and tony a pucci and collin davis won the legendary targa florio in a silver career a g.t.s. the 1st portion to feature the letters in its name g.t.s. means power reliability and speed but also comfort. the same goes for today's models to check out the new porsche $718.00 came in g.t.s. we've come to the a storage circle he told us the real race track a racing driver mark webber is pushing this baby to its limits. this g.t.s. boasts a naturally aspirated 6 cylinder mid mounted engine. it puts out $269.00 kilowatts of power and delivers a maximum torque of 420 newton meters with the top speed of 290 kilometers an hour . the cayman goes from 0 to 100 in just 4.9 seconds the sea. speed manual transmission features a dynamic throttle blip function to bring all that power straight to the road. and the done and make this is mentioned the boys need to do a great job. learn a man on t

>> one of the great historical and present-day advantages of the united states is the enormous dynamism of capital markets and our companies and tech leaders so the enormous innovation coming out of there is at the core of america's competitiveness. the most important thing in many ways is to get out of the way and let those companies do the things they do and the american people in us economy is the beneficiary of that. the private sector is at the core of innovation more broadly. what the government can do in that case is make sure ultimately there is no overregulation that stand in the way of that innovation, support immigration of highly skilled individuals with the appropriate caveats around protecting them on the national security side which we can talk about if you like but those immigrants, skilled immigrants have been a great source of dynamism for the tech sector and that is one of the areas the tech sector is most in need of government support. the thing i am talking about which is uncharacteristically and something i wrestled with as i thought about the world as it is, not a

coming back to that trade, part of the dynamic is, the turnaround was so rapid, we anticipated acquiring at a discount and selling in a one to ande-year timeframe at par, we were able to sell within three months at par. vonnie: that is a shortened trade position. so what happens now? we are seeing contract signings come back a little bit, not as bad as anticipated. residential may be holding up. senior assisted living, student housing, commercial real estate. what is the outlook in those areas? office,re in medical senior housing, student housing. the heaviest concentration is in the medical office. that will be a shining star in this downturn. deferral request, delicacies, very few defaults, which is why we invest in that sector. the senior housing side, although hammered in the press, the high end of the senior housing sector, independent living, has fared very well in our portfolio. actually has only seen a 3% decline in occupancy with no delinquency. we expect senior housing to emerge -- high and senior housing -- to emerge from this pandemic stronger than prior to the pandemic, prim

although i am not a strategist, we are seeing those dynamics play out.ot are really struggling around evaluation questions right now and concerns on a number of major question marks given the broader economy with the last quarter plus with the coronavirus. emily: elon musk is the ceo of tesla and knows more about the country -- about the company that literally anyone. shouldn't it concern investors that he thinks the company is overvalued? and a he made one tweet second tweet. we are not really focusing on his commentary around that. that the investor base is really looking at what is going on in terms of on the ground activity, reduction levels, gross margin activity. the china factory is a really important benchmark, if they get it to full ramp on that, to look at what tesla's manufacturing future will look like. i think that is the thing that we are most concerned with. at this point, the ability to ramp the factories and really begin to take more substantial market share, less than single-digit share. anothereantime, electric vehicle company, nikola,

. >> yeah, we're good to upgrade, the same dynamic the food at home dynamic is going to have continuedsupport. we'll take a quick break here as we watch futures continue to trade in a pretty narrow band on this monday morning. busy week ahead. "squawk on the street" is back in just a moment ♪ ♪ ♪ it started with a few fifty dollars here. eighty dollars. a hundred dollars. i had good health insurance. why isn't this covered? well, then they started getting bigger. eight-hundred dollars. eighteen hundred dollars. i saved for this. but not that much. i'm glad i had aflac. they gave me money when i needed it most. that's why aflac is here, to help with the expenses health insurance doesn't cover. i love that aflac duck. aflac! get to know us at aflac.com ♪ ♪ ♪ >>> dow is on a three-day losing streak but nasdaq going for seven in a row the longest win streak of the year we'll findut a o lot more when the opening bell rings in just over seven minutes make banking easier. deposit checks, check balances, pay bills, and more. explore all you can do with our digital tools from almost anywhere. p

, it is muchluminum more of a macro dynamic.very highly negatively correlated with the u.s. dollar. the one thing with the daughter that we have seen is a normalization in demand -- dollar that we have seen is a normalization in demand. because of that normalization, the dollar has traded off substantially. you look at metals in markets like aluminum, they are very much tied to the dollar. tom: this is great. we are talking to jeff currie here. we have to talk to him about oil, and particularly, the renewed tensions between saudi arabia and russia. we are going to come back with a jeffrey currie. it is fed day. stay with us through the day. this is bloomberg. ♪ ♪ francine: this is -- >> this is "bloomberg surveillance." deutsche bank warns that provisions for bad loans will rise in the second quarter to the highest level in more than a decade. the german banks says the money is being set aside and will reach about $908 million. rising loan provisions are a threat to deutsche bank's restructuring plan. morgan stanley expects to m

today boasts a dynamic 20th-century momentum. ♪ there is throughout the republic of korea a growing vitalityerscored by technological progress and ever increasing self-reliance. and yet, in the midst of accelerating change, historic figures and shrines continue to recall long ago legends and dynasties. and the fertile korean earth still works by men clinging to from labors past. mocking the legend of korea as land of the morning calm is the grim reality of the armed conflict that only two decades ago radvision's guard ravaged the -- ago, country. ♪ here at the united nations memorial cemetery, more than 2000 markers eternally symbolize the more than 94,000 united nations soldiers, airmen and sailors who paid the supreme price during three years of war. [explosions. ] out of war and death, a country's right to survive and prosper through self-determination has been preserved. for more than 20 years now, the american serviceman has represent the mandate to sustain the republic of korea's territory. the u.s.reason is servicemen and united nations forces still in south korea? for one, continuing

we want to change that whole dynamic. and i think some of the things that have already been done we will get back to those quickly. this was an intentional stopping of the economy, and amazing economy. the fundamentals are still in place. we will recoup that and move further on. your philosophy of course has been devising tied and you don't spend a lot of time with identity politics. we want everybody to be successful and we will do everything we can to help that. >> i think that the economy next year will be maybe the best it's ever been. you can already see it with the stock market how it's been going up. there's a lot of smart people betting on exactly what i'm saying. the stock market is almost the size it was prior to the plate floating in from china. now they are learning it may have been much earlier which bears out exactly what i've been saying. we saw that yesterday that it may have come in a lot sooner than we were told. a friend of mine is darrell scott, and he's a great guy and has tremendous heart. at the sam

better over the we will see how they dynamics better overthe summer we will see how they dynamics betterfew months. some teachers, carers, etc, be wearing face mass and pp in school? they are in contact with groups of students who can still carry and transmit the virus even if they don't suffer as much from it? is that the case that they can still transmit and carry on if they don't suffer as much, and what should people working in schools be doing? this is a very good question and i think it is important to know that children can get the coronavirus but as you said, there must less likely to have a severe outcome, so there must less likely to have a severe outcome, so they are much less likely to need hospitalisation or even to have severe symptoms. but we are not sure about delmer that at the moment is their capacity could transmit that disease onward. although obviously hard question obviously school being open is what allows many other parents to go about doing their work in business in business in an everyday life but we still have some concerns about, for example, the transmission

we want to change that whole dynamic. some of the things that have already been done, we will get back to those quickly. this was an intentional stopping of the economy, of an amazing economy. the fundamentals of that economy are still in place. we will recoup that and will move further on. the philosophy has been rising tide, and that's why you don't spend a lot of time with identity politics. we want everybody to be successful, and we are going to do everything we can to continue to do that. gov. reeves: -- pres. trump: i think the economy this year will maybe be the best it has ever been. you can see the stock market going up. a lot of smart people are betting on what i'm saying. the stock market is almost the size it was prior to the plague floating in from china. it was a plague that floated in from china. now we are learning it may have been much earlier, may have come in a lot sooner than we were told. is darrell mine scott, a great guy and has permit his cart -- has tremendous heart. at the same time, he is a toug

we will not see a big change in dynamics between the u.s.sie dollar from this point forward. for market dynamics, we are more focused on the macro noise which is around what's happening with the pandemic and any kind of vaccine or signals that's returning to some sort of certainty. of course, the economic data at the moment. given that we don't have that tourism revenue with travel restrictions and border restrictions likely to stay in place, do you see much potential and optimism when it comes to consumer facing, service-oriented stocks and industry from that domestic demand story? karen: it is very difficult to assess domestic demand. the reality is we are all seeing on a day-to-day basis, pretty bleak. brick and mortar retailers, it is very difficult. we have the borders locked up so tourism is very hard. plans are much more bearish than all of us anticipated. when you spoke to sydni airport, the numbers are a lot lower than we were anticipating for longer. it is hard to get excited by that. we are seeing a massive amount of stimulus comi

i think the more important dynamic over the past several weeks and even a couple of months now, has beens the andk market looks forward started already discounting the economic recovery. and that is what we have done in our investment portfolio, is we have already started to rotate back into cyclical areas. we have already come back into construction and housing, and construction home suppliers. we have come back into even the leisure and entertainment and these areas, airlines, restaurants, tourism. those areas have really started to move a lot. and those cyclical plays are really performing quite well. and we are seeing a lot of these areas in the u.s. that are coming down, like a lot of other countries and regions in countries around the world, we have already seen this around the -- seen this in china. we are seeing many areas of china, auto manufacturing back almost to a full recovery. we are now seeing other developed countries coming back online. in the u.s. we are seeing states open up one by one. those areas are starting to move again. so the cyclicals we think are good near-ter

what do you see of interior demand dynamics across great china?elan: one of the major problems -- leland: one of the major problems, fading the year hasn't been synchronized with the economy shutting down, and most of the rest of the world shutting down after that. factory orders are doing really poorly right now, which means the coast. in the interior, you are seeing much better numbers simply because they are banking on a domestic rebound, which you will see as the chinese recovery incrementally gets better over this year. right now, china doesn't want to be reliant on its interior provinces, but that is where the growth is right now, while the coast really feels the pain. tom: let's talk about beijing -- jonathan: let's talk about beijing. really hard to get a read on what is happening on the ground right now. what they say is that they have a small outbreak of covid infections. what they are doing is canceling flights and closing schools again. what is your read at things at the moment? leland: if you look at the numbers, it looks like this mi

so it's a very dynamic situation. you've got police just over on the other side of the street, but you've still got traffic coming through here. it's almost as though it's like lawlessness on this side of 4th street, and then on that side of 4th street there is a significant police presence. but i'm just going to show you real fast inside of here. this is what the chase bank looks like. we don't know what's been taken, but we know that they were looting the chase bank here as well as pretty much this entire block for about two hours. we were here two hours before police finally started coming in. and we saw police actively engage during a moment in which some sort of projectile, i believe it was a can or some bottle hit the backside of that police car, and broke the window and that's when they called in the reinforcements. they spread out. and what you're starting to see now with more and more people come out as those police take off is people basically coming down here, seeing what's still available, going inside of

that is the driving dynamic. robert: can you offer some thoughts on germ milley's statements. the m titary appearing with the president in a photo op. >> he stayed up late that night and watched the criticism and he was really mortified by it. and did violate the and esper was a west point graduate. milley is a respected joint chiefs chair b he came in last fall to reace germ dunford. butt milley has gr reputation. he thought that thisas really remarkabletement for him and did show an independence from this president that is remarkable and people did not stand up to him. there was considerable anger from the president and h did not in an interview, he did not think that photo opportunity in front of the church was as bad as milley had said b did not strike out on twier. he could not fire a defense secretary after he stepped back from thede pre and couldn't do anything. but this is a real moment not there was ag list others including jim mat toys who have not spoke out about this president. there e so many others who spoke out, robbletrobt wes, i know some final thoughts. wesle

still korea today both a dynamic 20 century momentum. there is throughout the republic of korea, a growing vitality, underscored by technological prowess an ever increasing self reliance. yet in the midst of accelerating change, stark figures and shrines continue to recall long ago legends and dynasties. and the earth is still work by men who cling -- . still mocking the legend of korea as the land of the morning calm, is the grim reality of beyond conflict which only two decades ago ravaged and scarred this divided country. leaving permanent reminders, of the price paid to preserve individual freedom and national security. here at pusan the united nations memorial cemetery, more than 2000 markers. eternally symbolized more than 94,000 the united nations soldiers airmen and sailors paid the ultimate price in three years of war. out of war and death, a country 's right to survive rebuild and prosper through self-determination. it has been preserved. and for more than 20 years now, the american servicemen has continued to represent the uni

the consumer is not that concerned about the dynamics and the rebound that i think we will eventually get in covid-19 cases is something i think the world is getting ready for so back to sentiment for this market, i think this is really part of what the last week to ten days has been all about. the fed's announcement today is another extraordinary day for markets. it's not a great day for free markets, but it is an extraordinary day for asset prices and that's why they went higher. i'm not sure i would be ready to fight that. >> this is the ultimate backstop, guy. in every asset class the fed is will to step in and do something. as much as one might be pessimistic about the economic outlook in the back half of the year or second wave or whatnot, does it matter if we know the fed is going to be in the market supporting it? >> i think -- well, that's an interesting and, again, somewhat nuanced question i absolutely think it matters because i think one of their main goals is to convince people that things are okay and to -- you know, to sort of -- i'll say it, to pull the wool over the e

how are they navigating the changing dynamic of their operations. a panel of business owners join us after the break to share.

so it's kind of a moving target depending on different dynamics within the population but i think one of the largest things is really to create this shared identity that we're all in this together and to avoid these traps of fracturing the population or trying to blame other political parties or other segments of the society and certainly you know fear can be a motivator it can also make someone very very defensive depending on whether or not they feel there's any control anything that they can do about it so i think really reaching out not only from the government institutions to create a sense of unity but also into these other leadership roles within the community within the faith based community within various social circles is really going to be critical to to sustain into the the medium term this notion of we're all in it together and the importance of these measures to protect not only ourselves but also our families our loved ones ok so dr all moronic can we say how effective quarantine measures of benin slowing down the spread of the virus so far km people be persuaded that i

dynamics, certainly a more modern macbook if the chip is thinner, lighter battery, kind of a sexier story to the macbook which is not a big needle mover i do think this is about pushing on the supply chain, about vertical integration i think it's interesting to note also that in mega cap tech land this is the valuation during these times, covid-19 and wherever the consumer is going to be, that apple may be the most defensible valuation of the mega cap of the stocks who all had a massive day today. again, 22 or 23times seems to be the consensus, that's a blended multiple company iphones and services 16-25 that's where apple moves today. >> how do you see the valuation, karen? >> i see it as a little bit stretched. obviously we've been talking for a couple years now about the migration of the business model towards a more steady stream of services clearly that's a higher multiple remember, there's a hardware company inside here. so that deserves a much lower multiple what's the right blend i'm not really sure. we'll see how the revenue seems to evolve toward more services but i think as tim

we had a good recovery dynamic .n may now in june we are seeing good dynamics and there is a second waverging. that was russia's energy minister speaking with annmarie hordern. later, we have an inclusive conversation with the hong kong secretary for justice at 10 past eight hong kong time. coming up, we find out how drastically measures hurt the country when they release the numbers in just a few moments time. this is bloomberg. ♪ haidi: facebook seeks to buy a 10% stake in the reliance for is under review by india's antitrust watchdog. the competition commission will study how the company plans to use data as part of the $6 million deal. facebook is was one of many unit,ors betting on the valued at aliens of dollars -- billions of dollars. ft is planning for all car journeys to be electric by 2030, chargingit widespread network and cooperation of founders. this had triggered shutdowns to lift the chance to evaluate everything and says the company should emerge in a better position. asc has resumed as many 75,000 jobs, three months after its restructuring plan was caused by the coronavi

a gets into the unintentional dynamic care. changes that were brought in 1965. that was writing a set of laws. eliminating those. in terms of recognizing an immigration law it should not be based on where people came from. in others when they talk about the book. they show how much those national ordinance -- origins are. it has changed over time. it's always a defining feature of whether or not you can get those papers. you can come here and belong. it's something we feel currently today. getting rid of those quotas it was a huge deal. that's what i try to articulate in the book that here we are all these years later and now we have more deportation more exclusions than we and we ever had previously. there are very specific forces. including the legacy that try to promote this idea. we have to make it fair. doing it in ways that are very quoted. but not as explicit. designed to make americans believe. it's just based on questions. versus what is not. as opposed to being a system that is designed. now that we don't have national origins. i talk about a man back

still, korea today boasts a dynamic 20th century momentum.here is throughout the republic of korea a growing vitality underscored by technological progress and ever-increasing self-reliance. and yet in the midst of accelerating change, historic figures and shrines continue to recall long-ago legends and dynasties. and the fertile korean earth is still worked by men who cling to labors born during centuries past. still mocking the legend of korea as the land of the morning calm is the grim reality of the armed conflict which only two decades ago ravaged and scarred this divided country leaving permanent reminders of the price paid to preserve individual freedom and national security. here at pusan in the united nations memorial cemetery, more than 2,000 markers eternally symbolize the more than 94,000 united nations soldiers, airmen, and sailors who paid the supreme price during three years of war. out of war and death, a country's right to survive, rebuild and prosper through self-determination has been preserved. and for more than 20 years n