need to source those from companies that are trustworthy some of these are western companies ericsson nokia some of the american companies like cisco and others they can step in and fill the gap can they can they do that right now well it's very difficult because while weight is admittedly ahead so we will need time we will probably need weiwei equipment in the 1st generation of the next network but then let's see let's test where the data is actually getting leaked and siphoned off prove it and then get other companies to fill the gaps take the equipment out which is very costly it's costly and it's risky yes what do you tell the german government with this i mean do they have to you know that they have to take sides in this very much still we believe that you know the community of values between the united states in europe is still very strong it's been talked about a lot and yes there are tensions between both sides of the atlantic but i think that's still where our values alignment is and we have very complimentary assets that we can bring to the table between science and technology and

markets that might be an opportunity for european producers so think about the why conflict ericsson and nokia who are being kompany might sell more united states but why it's locked out so again it's in a big was situation for certain products certain firms trade war actually provocative but you know these but for most of them it's more than a risk it's more risk. we're trying to lose his reelection in 2020 how easy it would have been to undo everything he's done with trade at this point. you see i think the key factor here is really uncertainty trade policy that has to be stable for many many years has become a source of instability and that will be very hard to be undone we see that the trade policies used viably in many more countries not just the united states and so the genie is out of the bottle if you like and any new president united states will have to spend a lot of political capital a lot of time to get the cine back into it so we have to expect more trade policy uncertainty even without the us president trump very briefly is china likely to be persuaded by these tariffs. very hard

you have competitors from ericsson, nokia, samsung -- all great companies, but none of them have the wherewithal of their countries they are located in to match the financing power that china incorporated can bring. we may need and we can bring -- this is a pretty dramatic consequence. we in this country have always avoided notions of industrial policy where the government tries to pick winners or losers. i think some of that when we are competing against a nation the size and scope of china may need more thought. we are having conversations. think about how we can combine and have a -- does not necessarily have to be american, but western -- i say western in the concept of geographic as the countries that were first brought to our attention were japan, korea, and australia, open and were democracy-type equivalent that will have more capability to compete. that is a dramatically different approach than anything we have thought about in recent times, but it is driven by the fact that when we are competing against china with its size, scope, economic cap, and intellectual capabilities,

company and europe is home to nokia and ericsson and does not need any help.'s online startup will issue a credit card with a bang from indonesia linked to its booking service. it was founded in 2012 and was said to be valued at $2 billion two years ago and has expanded across southeast asia by making it easier to book flights and hotels. tech are a look at the top global stories we are watching. paul? paul: thanks very much, taylor. shares of chipmaker macron came under pressure in late trade after a disappointing profit forecast suggests the industry's slump is not over yet. "bloomberg technology's" ian king covers macron. the stock is down more than 6%. why is that? : exactly right. the first factor is obviously a big run in shares this year, which created, i think, expectations a little bit overinflated, but rather than a number, it was more what they said. they pointed again to the huawei situation and said that may impact them going forward if they do not get more licenses to continue supplying the company. they talked about the trade war in general as p