today i wish to address the global economy in the context of economic globalization. the point i want to make is that many of the problems in the world are not caused by economic globalization. for instance, the refugee from the middle east and north africa have become a global concern. so many people have been displaced and some small children lost their lives while crossing the rotc. this indeed is heartbreaking to last. it is wrong, conflict and regional turbulence i've created this problem. the solution to this problem lies in making peace, promoting reconciliation and restoring stability. the international financial crisis is another example. it is not an inevitable outcome of economic globalization. rather it is the consequence of excessive profit by financial capital of and great failure of financial regulation. there is no point in blaming economic globalization for the world's problem and that is simply not the case and it will not help solve the problems. from the historical perspective, economic globalization results from growing social product to the dave

to write off the economic globalization but we should adapt and to glide to that globalization. to the impact to deliver the benefits to benefits and all nations there was a time talk about economic globalization we're not sure if they should join in the dead buteo but came to the conclusion for tuberose the economy to have the courage in the global market and then to explore the new girlfriend so they took a step forward to raise the global market. and then to enemy have learned how to swim in the process. if has proven to be the right choice. whether you like it or not the global economy faces a big ocean you cannot escape from. and runs counter to the american trend. problems are not to be feared but then refusing to face up to the problem and not know what to do about it. in the faces of the economic globalization the right thing to do is to seize every opportunity and make of the challenges to chart the right course for economic globalization. at the meeting in late 2016 to make that process of economic globalization to be more invigorated and sustainable. we should act pro

on globalization, i don't think we are exiting globalization.e entering a new stage of international global relations where national policies in important countries will shape how globalization eventually develops. even if there are policies that say i am closing down the market because i am turning protectionist, on the other hand i am deregulating, this basically means there are new ways to interpret how nation states shape globalization. we have to be prepared on how to deal with that and since i am concerned about europe, i am concerned europe does not have a strategy about how to deal with the new face of globalization. it is reacting and inward looking, it's not facing big changes in globalization like the migration flows in a coherent way. francine: when you look at globalization, are the emerging markets automatically being hurt more than developed countries? henrique meirelles: if we go back to christine's point, globalization is allowing for massive numbers of people to get out of poverty, to get into the middle class. as a whole, it's

global economy.ardehristine recently told me that emerging markets and developing countries already contribute to 80% of global growth. in the past two decades, the global economic landscape has changed profoundly but the global governance system has not embraced those new changes, and is therefore inadequate in terms of representation and inclusiveness. the global industry landscape is also changing. change, valueal change, and supply change are taking shape. investment rules have not kept pace with these developments. problems suchcute as closed mechanism and segmentation of laws. the global financial market needs to be more resilient against this. but the global financial governance mechanism fails to meet the new requirement, and is unable to effectively resolve problems such as frequent volatility and desk in international financial markets and the buildup of asset bubbles. developmentn global makes it difficult to meet people's expectations for better lives. schwab observes in his book the four

second point, on globalization, i do not think we are exiting globalization.r: i think we are entering a new stage of international relations, where national policies in important countries will shape how globalization because evenvelops if there are policies that they we are closing down the markets because we are turning production is on the one hand, on the other hand, i'm deregulating, going the opposite direction, is basically means there are new ways to interpret how nation states used to be that name once -- shape globalization. we have to be prepared on how to deal with that, and since i'm concerned about europe, i'm concerned that europe does not have a strategy about how to deal with the new phase of globalization. it is reacting. it is inward looking. it is not facing the challenges in globalization such as the migration flows in a coherent way. francine: when you look at globalization, are the emerging markets, if there is a new globalization, will it automatically hurt emerging markets more than developed countries? to christine'sk point, i think

we might see less global trade, but we will see much larger global -- regional trading blocks.bviously, nafta is something that president trump has indicated he wants to revisit. i was in mexico last week -- john: hang on, staying on china, you'd think -- do you think the china is -- the chinese are now the new apostles of global economy? mr. gulliver: it is a change from a we have expected, but it is consistent with beijing policy. it is consistent with the political developments in china. it should be looking to play a greater role on the world stage. for years or five years ago, we how china had a bigger economic role to play come of that they were not stepping up enough. in a number of ways, it is what we were calling for four or five years ago. john: you still want to hire 4000 people. you are pushing in a big way towards that. how are you doing on things like property loans and bad debt? mr. gulliver: in every country, there are big risks. china is not unique to that. areadly, we see that the that that certain areas are being a concentration of cantonese speaking. go acro

as we build a new, bold, confident global britain, and shape a new era of globalization that genuinely works for all. as we harness the forces of globalization, so that the system works for everyone, and so maintain public support for that system for generations to come. i want that to be the legacy of our time, to use this moment, to provide responsive, responsible leadership that will bring the benefits of free trade to every corner of the world, that will lift millions more out of poverty and towards prosperity and that will deliver security, prosperity and belonging for all of our people. thank you. >> theresa may just speaking there in davos. steve will speak to the uk prime minister. you can catch that interview at 17:30 cet. we'll be right back. >>> hi everyone. welcome back to this special davos program. we just heard theresa may speaking, the uk prime minister, taking to the stage in davos and delivering her speak there days after delivering her brexit speech here. julia is in davos and was listening. i thought two things stood out. she was determined to keep center ground mai

economic global saization for world's problems.t is not the case and it will not help solved problems. from the historical perspective, economic globalization results from growing social productivity and is the natural outcome of scientific and technological advances. it is not something created by any individual countries. >> defending economic globalization. he said there is no point in blaming economic globalization for the problems. just a fascinating tone to come from a communist leader ahead of the leader of the biggest capitalist economy taking charge this friday. >> singing a different tune. >> opposite tones. >> the fact that president xi is here for one makes a big statement at the world economic forum which brings together ceos from around the world, not just ceos, policymakers, former policymakers and current leaders. the fact that nobody officially is here from president-elect trump's team, where in the past they have been, makes a statement as well as president xi being here. setting themselves on opposite ends of thi

erik: global bankers are bracing for brexit.pmorgan ceo jamie dimon has been very frank about the potential negative impact of the split. not just for his business, but for the global economy. he also sat down with john micklethwait. >> she has made it very clear that she is prioritizing immigration over the single market and does not want to give a particularly special deal for financial services. you are a global bank based in london. you hire a lot of non-british people to work there. shortly, generally, britain is heading in the wrong direction for jpmorgan and other banks. one of the things, not just with banks -- london is a fabulous financial center, huge economies of scale that include the people of europe. it is passed on to the customer. when they change the rules, move some of the people, yes, it will reduce my the jobs there. the brits will decide how we want to compete around the world. it's not up to me, it's up to the prime minister and the parliament, at this point. it looks like there will be more job movement t

represents amp hope for globalism.fix and insurer the in situation and the united states, italy to more global demand. erik: what is the question you keep getting about donald trump you're trying to answer? >> he is a very interesting communication style. more time you spend with him come you recognize what he is doing and understand his medication style. erik: that is not working for these folks? >> these folks are used to a certain type of buttoned up, politically correct presentation style. it is more synthesized to be inert. the president is designed to say things that will cause an issue anywhere. i think he has a more authentic, refreshing delivery system. and i think people are going to start to appreciate that more once he is president. if erik: for all of the think donald trump is promised to do, which of those are of interest, or of concern to you and carlisle? i want to talk about it at the ability of business expense. i view myself first as an american citizen and i am more worried about the country and the

in a lot of ways, president trump represents a hope for globalism.and cure the wage situation in the united states, it will lead to global demand. erik: what is the question you keep getting that you are trying to answer? anthony scaramucci: he has a very interesting communication style. the more you get to know him and the more time you spend with him, you understand his communication style. erik: it's not working for these folks? anthony scaramucci: these folks are used to a certain buttoned up politically correct style. it is more synthesized to be inert. the president will say things in ert that will not cause an issue. i think he has an authentic, refreshing delivery system. and i think people will start to appreciate that more once he is president. erik: of all the things donald trump has promised to do, which specifically is of interest or concern to you and carlyle. and i want to start with interest expense. something you have to be thinking about running a private equity firm. >> i view myself first as an american citizen and i am worried ab

>> president trump represent the hope of globalism. erik: brexit comes into sharper focus. >> i want to negotiate a free-trade trade agreement with the european union. business and financial leader share their outlook for the year ahead and their insight for changes on the global horizon. than17 will be better 2016. >> we are placing bets on technology. >> the middle classes disillusioned about the future. >> the eurozone may not survive. >> the most influence in the world right now is populism. erik: it is straight ahead on "bloomberg best." ♪ erik: hello, i'm erik schatzker. it welcome to doubt both and welcome to "bloomberg best." your weekly roundup of the most important business news, analysis, and more from bloomberg television and around the world. world economic forum, we had the chance to discuss the week's biggest stories with some of the worlds finest minds. let's take a day by day look at the top headlines. >> 2017 is starting out as the year of geopolitics led by brexit in the incoming trump administration. a single countr

there is a global revolt of the working class against globalization and the people where you are have been proponents of globalization for the past 20 years. you say they have to change their thinking. >> reporter: it is as if they have been told that the world is flat after all. because christine, for the last 30 or 40 years, the western consensus has been that globalization is good. and the more globalization, the more export of western capital, the more values of large corporations that would be to the benefit. what trump's victory and not to forget brexit and the italian referendum on constitutional reform, that is an awakening. the reality is they are not sure first of all what it means and they are certainly not sure what they can do about it. it is challenging the very core of their beliefs. >> richard quest, one of the few things probably not in abundance at davos is humility. do you get the sense that the high flyers admit they got it wrong or getting it wrong and begun to be introspective about the why? >> reporter: not a bit of it. there are 400 panels and there is not one

not just for his business, but for the global economy.at down with john nickelthwaite. >> she has made it very clear she is prioritizing this over -- prioritizing immigration over the single market and does not want to give a special deal for financial services. you are a global bank based in london and hire a lot of non-british people to work there. generally, britain is heading in the wrong direction for jpmorgan and other banks. jamie dimon: london is a center, we have huge economies of scale that include the people of europe. it is passed on to the customer. when they change the rules, yes, we will remove some of those people and reduce jobs there. the brits will decide how we want to compete around the world. it's not up to me, it's up to the prime minister and the parliament, at this point. it looks like there will be more job movement than we had before. >> coming back to new york as opposed to -- jamie dimon: we don't know yet. the eu can put in rules which requires some of the jobs to move in to the eu. it could be more flexible.

just move out of globalization.aintain ae to certain may be more fair of global trade, so let's see what's coming out of the developments that we have seen not only in the united states that in the u.k. and other countries. given everything you have advocated for more than four decades, are you concerned, frightened or worried about what mr. trump has said? guest: not at all. he always advocated that there has to be economic development, but it should be coupled with social responsibility. we should not have people who are left out. way, we join some of the arguments for which president trump was elected for. you met with members of his staff last month. what was the purpose of that meeting and what came of it? it's very clear that the world economic forum has cultivated relations with all governments around the world. we always wanted to be truly global. since many of our partners have important positions inside the you -- inside the new administration. erik: were you hoping to extend an invitation and hopes he wou

-- about globalization. we have winners, of course, in globalization. we have very clear signals we want to reduce poverty, increase education for boys and girls. those are good signs. but also we can see people are losing. and they are feeling threatened by globalization. that means that we have to show that globalization and our societies are developing in such a way that you are on board on this future project. it means jobs. it means decent jobs. it means equality, social youlity, welfare that gives some trust for the future. so we need to change these worrying times, uncertain times, into more certain times, and a positive attitude to the future. tom: to yourself, within the turmoil of european politics, we have the netherlands, the french, and others with elections, germans with elections. what should be the e.u. response in the early days of a trump administration? >> to stay united, of course. tom: to have one voice? >> it is very important for europe and america. i would say it is very important to

♪ >> asian stocks set to join a global selloff as the dollar drops and may lays out her plans.sing paying warns there will be will be noarns there winners in a trade war. onorean court sets a rule the arrest of a samsung executive. this is the second hour of daybreak asia live from bloomberg's headquarters. it is just after 8:00 a.m. in hong kong. : as we have been talking about, them markets are rattled by prayer -- by president donald trump's view of the dollar being too strong. a lot happening in asia, awaiting the decision by the korean court on an arrest warrant for the samsung executive. >> we will get more on developments from the samsung front. also, xi jinping takes the stage he didn't say trump's name but it was a clear signal that this was agains protectionism. it is all about globalization. we will see if that has affect on the asian markets. let's have a look at markets right now. very interesting, because certainly, we woke up this morning, we had massive moves in the currency markets. we are tracing a little bit, the dollar dropping the most and's july, the pound

i'm joined by the global head of strategy at schroeders. great to have you on the show. >> nice to see you. >> we heard that cryan said this issue is not over. i don't want to talk about deutsche bank specifically, but i want to make a contrast between what we're hearing from the european banks, the optimism on the u.s. banks, and you share that optimism. >> certainly. >> meeting the u.s. bank leaders, there's huge optimism about the relation trade. first and foremost, it's the bump to growth. an improvement of interest rates. interest rate rises could add 15% to 30% to bank stocks earnings in the states. the stock is up 30. something is going on. the second is the enthusiasm may be the high peak regulation is behind us. dividends can restart, buybacks can increase, and the greater confidence that investors can come back. >> you don't think regulations will be pulled back? you think it stays steady? >> i think it will be watered down. the reason for that, we need banks to fuel economic growth. in europe, it's anemic. the european central ba

it's all changed in terms of global leadership. i think president xi kicking off the forum is a strong statement about china's commitment to a long-term role, serious role, important policy role on the world stage. i think the next thing you'll see is china playing a much bigger role in the security council in the u.n. as well. >> let's stick with china. isn't it quite ironic how the chinese president, who is the first chinese president to attend the world economic forum today in a speech is expected to defend free trade, globalization, when in the u.s. we're seeing a move against free trade and a move towards protectionism? . i think this is probably the beginning of a debate. you talk about free trade, protectionism. you are also going to talk about climate control. because the chinese are going to be the poster children or the poster child for, you know, major environmental policies. they had to as a domestic matter. big policies tend to emanate from domestic problems and issues. the chinese have had to deal with the environment

global trade yorks have been stalled. multilateral negotiations are focused on pick pick areas about not moving. regional agreements tpw, the transspecific partnership, and the regional comprehensive economic partnership, another asian arrangement, is not moving very far and very fast. then you have all this antitrade and anti-globalization rhetoric and positions taken by presidential candidates on both sides of the aisle against trade which is first as far as i know with so much antitrade rhetoric from both sigh sides over -- side offed the aisle. i learned some things from the debate and election results about trade. there's a lot of anxiety about trade and economic change in other ways, technology and other changes in the economy, and i think the sense that we folks in the room and in washington don't understand those anxieties and certainly are not delivering the solutions to those problems. and whether it's looking at policies like adjustment assistance or retraining and education, or wage and income support of some

a round up of global markets straight ahead. and this is becoming a global story. >> sure has been.lus we'll tell you how tostitos's newes back of chips wants to help you drive safe on super bowl sunday. cathy's gotten used to the smell of lingering garbage... ...in her kitchen yup, she's gone noseblind. she thinks it smells fine, but her guests smell this. ding, flies, meow febreze air effects heavy duty has up to... ...two times the odor-eliminating power to... ...remove odors you've done noseblind to [inhales] mmm. use febreze air effects, till it's fresh and try febreze small spaces... ...to continuously eliminate up to two times the odors... ...for 30 days febreze small spaces and air effects, two more ways... [inhale + exhale mnemonic] to breathe happy. . >>> good morning. dow 20,000, the march to the milestone. and where stocks are likely to go from here. >>> animal spirits, breaking deal news. johnson & johnson agrees to purchase actelion for $30 billion. it's thursday, january 26, 2017. you're watching "worldwide exchange" on cnbc. >>> good morning. welcome back to "worldwi

fit to compete effectively in our own globalization.here majorities of electorates in the west, the u.k., parts of europe, the united states, want applause on the push of liberal -- want a pause on the push of liberal economics and trade deals. and that during that pause, it will give us time to get fit again. speak to when you emerging market leaders, they want this globalization. they want to increase growth and make sure that you create more wealth and think about another redistribution of income. if liberalism is in retreat, do you think it will continue to be emerging markets, and it will just be the western economy that is in retreat? robin: the reason that davos still works at one level is that actually all of those emerging tokets that still have a lot gain from integrating themselves into new markets, new technology, financial markets, and new movements of people -- they will see upsides still. remember, those countries have always been interested in a more managed form of globalization. the reason the trans-pacific partnership

i want britain to be that we have the potential, talents and ambition to become a great global global trading nation that is respected around the world and strong, confident, and united at home. that is why this government has a plan for britain. with the right deal abroad it also ensures that we get a better deal for all working people at home. that is why that plan sets out how will use this moment of change to build a stronger economy and a fairer society by embracing genuine, economic, and social reform. while the modern industrial strategy is being developed to ensure every nation and area in the united kingdom can make the most of opportunities ahead. while you'll go further to reform our schools to ensure every child has the knowledge and skills they need to serve thrive and post brexit. we will take a balanced balanced approach by investing in our economic infrastructure because it can transform the growth potential of our economy and improve the quality of people's lives across the country. it's why will put the preservation of our precious union at the heart of everything we

and syria,t in iraq because isil has global ambitions and global presence.re dealing with isil in places like libya, west africa, parts of southeast asia, and in south asia. charlie: agreement has held. nuclear agreement. do you think it will continue to hold? the administration coming to power will do away with it? susan: could do away with it. charlie: what are the consequences? susan: let's step back. this nuclear deal that was agreed and negotiated with iran, along with the european union, france, britain, germany, russia, and china, as well as iran,tself, the p5+1 plus has endured. it's been adhered to in all of its elements by the iranian side. in contrast to where we were before the agreement a few years 2/3 2/3 of itsed centrifuges and disabled them. it shifts out 98% of its enriched uranium, poured concrete in the core of the plutonium reactor. [inaudible] the material is at least one year away as opposed to 2 or 3 months. that is the success of this deal. we have achieved the objective of cutting off every one of iran's pathways to a nuclear weapon

. >> let's check in on the global markets.eeing a sell off in world equities future following a sell off in the dollar. taking a pause. wait and see what trump will do. dow futures are down 21 points. nasdaq futures are down 13. this after a volatile day on friday where stocks sold off as president trump was speaking and the dow finishing higher by 100 points. >> ibm as well contributing on friday overall. you can see right there, sarah, on the board is futures market that perhaps is taking a pause after a nine point rally in the dow. >> there's some buying of treshries. and nothing extreme but a little bit of a risk all mode this morning. >> the busiest week so far. 100 companies reporting the s&p 500 and the busiest day thursday. i want to say 39 companies may be reporting thursday. check out what's happening with european equities because we're seeing weakness across the board in the major markets. the dax down half a percent. the cac in france off by about the same percentage. and the ftse 100 off and the ftsemib off. >>>

second point on globalization, i don't think we are exiting globalization.rnational global relations where national policies, especially in importing countries, will shape how globalization eventually develops. even if there are policies that say i am closing down the market because i am turning protectionist, on the other hand imd regulating, so i am going in the opposite direction. this basically means there are new ways to interpret how nation states shape globalization. so we have to be prepared on how to deal with that and since i am , concerned about europe, i am concerned europe does not have a strategy about how to deal with the new face of globalization. it is reacting. it is inward looking. it is not facing big changes in such as then migration flows in a coherent way. francine: when you look at globalization, are the emerging markets, if there is a new globalization, will it automatically hurt emerging markets more than developed countries? henrique meirelles: if we go back to christine's point, globalization is allowing for massive numbers of peo

it was the moment we chose to build a truly global britain. i know that this and the other reasons that britain took such a decision is not always well understood among our friends and allies in europe. i know many fear that this might herald the beginning of a greater unraveling of the eu, but let me be clear. i do not want that to happen. it would not be in the best interest of britain. it remains overwhelmingly and compellingly in britain's national interest that the eu should succeed. and that is why i hope in the months and years ahead that we will all reflect on the lessons of britain's decision to leave. so let me take this opportunity to set out the reasons for our decision and to address the people of europe directly. it is not simply because our history and culture is profoundly international list, so important though that is. many in britain always felt that place ind kingdom's the european union came at the expense of our global ties. there were other important reasons, too. our political traditions are different. unlike other euro

donald trump has made sneering reference to globalization and globalism and no senior member of thising to be front and center because the other people are not showing up. >> that is correct and china has clearly taken a decision which is that they will open their economy and the main challenge they face is transitional. people in china are better informed about what goes on in the rest of the world than the rest of the world is about what is going on in chinese -- china. they are ready to invest raw but foreigners are not ready to invest in china and those imbalances will even out over time. francine: the concern is that even if they open up the economy , a huge transition, trying to move massive oil tanker and this could take 5, 10 years, are you expecting bumps? davos last year, we had so much volatility in terms of the asian stocks because of regulator mistakes. they will inevitably happen. >> there will definitely be bumps on the road, about china's reform, making good progress on rebalancing already, look at the consumer and services side, one of the most impressive consumer bo

writing that globalization is inevitable. u.s.dent donald trump's administration espoused an america first doctrine which is largely inconsistent with what is being suggested here. if it remains the u.s. approach, progress toward building the sort of order that today's interconnected world demands will come about only if major powers push it or it will have to wait for trump's successor. the takeaway, globalization involves more than the economics of trade, but finding places for refugees, climate change and other important issues will come about no matter what, whether the u.s. is in charge or whether it waits until after president trump. >> other countries going in the similar direction. you have the populists in europe, but then the other talk of how the withdrawal from the tpp is leaving an opening for australia and china. >> how about president xi in davos preaching free trade, saying don't make it a scapegoat. clearly someone has to sort of take the mantle. beijing looks like it wants to do so. >> hard to go back. my pick th

globalization is the longer on the agenda. if donald chump pursues a highly protectionist policy the implications will be bad for the united states itself above all. if you take the country like mexico, mexico has 80% of its exports going to the united states. but 40% are american content. what you are doing is hurting u.s. industry and manufacturing by raising the cost of imports, many of which come from the united states. the same is true for the technology sector. the answer is that the u.s. cannot go it alone. it can pursue a policy on the monetary side is likely to be pursued because of domestic reasons. >> one of the present -- one of the pervasive stories we talk about is the impact of the higher dollar on dollar pecks. do you see that changing anytime soon? problem they areacing is that they are trying to diversify. it means services like trade, tourism and the like. if you dollar starts appreciating at the same time you have inflation, your rate of exchange appreciates and that hurts are known oil sector. we're going

the threat of global warming is getting ever more real.st year since records began over a century ago. temperatures are now 1.1 degrees higher than pre—industrial levels. the third consecutive year that record has been broken. scientists believe increasing levels of greenhouse gases are mostly to blame. our science correspondent rebecca morelle has more. our planet is warming, fast, and the latest data suggests that 2016 was a record—breaking year. this winter, parts of the arctic have had a heatwave, temperatures were above freezing, when they should have been far below. while australia's great barrier reef was transformed to this. vast swathes of coral were killed off, as the waters warmed. 2015 was the warmest year on record up until now, and 2016 has just beaten that. it's beaten it by about 0.1, 0.12 degrees celsius. which doesn't seem like a lot, but in terms of the yearly variations, it is actually huge. part of this rise was caused by an el nino event, a warm ocean current that disrupts the world's weather. but scientists say green

as we build a new, bold, confident, global britain and shape a new era of globalization .hat genuinelyks for all as we harness the forces of globalization, so that the system works for everyone, and so maintain public support for that system for generations to come. i want that to be the legacy of our time. to use this moment to provide responsive, responsible leadership that will bring the benefits of free trade to every corner of the world, that will lift millions more out of towards prosperity, and that will deliver security, prosperity, and belonging for all of our people. thank you. [applause] francine: let's get straight to our brexit editor, simon kennedy, listening to prime minister may talking to world leaders and a lot of ceo's gathered in davos. what did you make of that speech? she talked about inequality but it was almost a pitch for business. she said, we are leaving the e.u., but we are here for the rest of the world. simon: she says britain is in closed for business. it wants to do a lot of trade deals. the second part, i thought was interesting, in the past she's talke

has globally.nde get theresa may globalization has created carnage on that front and she has to get something from the u.k. around the banking sector reportinglegraph is the expectation around the trade deal with the u.s.. if you do have what happens and when it will, ultimately -- >> i want to reflect back on this prison of volatility for is the traded it americans are the number two trading partner by volume and there is no doubt about europe as a linchpin. back with something and she really has a program and the ability. from the point of view of trump, this will help export more and the agenda is what you can do to create jobs in america. is a big fan of bass -- brexit and we will talk about the more active government where they go. he is trying to take the winners into account. there beneficial and it worked with technology change. >> thank you. >> coming up, a new promise on trade and we will talk about political risk. 1:47 and futures have indicated a hit lower and this is monday morning kic

you talk of a global recession

ambitions and global presence.ealing with isil in places like libya, in west africa, in parts of southeast asia, and in south asia. charlie: the agreement with iran. agreement has held. nuclear agreement. will continue it to hold, that the administration that is coming to power will do away with it? susan: it could do away with it. charlie: what are the consequences if they do away with it? susan: let me outline them. first of all let's step back. , this nuclear deal that was agreed and negotiated with iran, along with the european union, france, britain, germany, russia, and china, as well as iran itself -- charlie: the p5. susan: the p5+1 plus iran, has endured. it's been adhered to in all of its elements by the iranian side. so in contrast to where we were before the agreement a few years ago, iran removed 2/3 of its centrifuges and disabled them. it shipped out 98% of its enriched uranium, poured concrete in the core of the plutonium reactor. charlie: so much further away from being able to produce a nuclear wa

the global head of islamic finance at s&p global ratings.check of the business flash headlines. bets on china's new silk road forcing pakistani shippers to triple its capacity by 2025. it will by at least 22 vessels, adding to its nine pronged fleet. million toaside $600 fund current prices. china has promised pakistan billions of dollars in loans investment. >> the date for turkey's controversial referendum may be announced this week. the vote would controversy -- would concentrate more power in the presidency, allowing president erogan to dissolve parliament. a decided date must be before november 20. he was will be released after the order is signed by the president. >> abu dhabi in india signed new agreement on strategic cooperation, defense, and cyber security. the crown prince is on a three-day visit, including talks with prime minister modi. that you want to deepen ties, working on transport, agriculture, trade. indians are the largest expat worker groups in the emirates. qantas ceo says the push into china will continue enjoying the

the global elite descend on the ski village. never before has the gap between the haves and have-nots been so wide. does the population at large even care about the world economic forum? this is "bloomberg surveillance ." i'm mark barton. the stoxx 600 is trading lower after rising for a third consecutive week on friday, best run since november 25. has the ftse's winning run come to an end? 14 consecutive days on friday, an all-time record. we've got a 12-day record run. that in itself is a record as well. sterling down 1.16% against the dollar. 1.6%, the low to watch out for is 1.1841%. that was the low the day of the flash crash on october 7. 1.2 23 is the key level. that was the october low close. the yield on the u.k. 10-year is down four basis points today. 1.33%. big week for u.k. data. let's get the bloomberg first word. here's sebastian salek. sebastian: donald trump has called nato obsolete and predicted other european union members will follow the u.k. in leaving the bloc. he also threatened bmw with import duties over

third, the global economy is improving and we are no longer in a global deflationary environment. now, with this kind of date, a bernstein said it is rational to believe that stocks will rally and bonds will not. for "nightly business report," at the new york stock exchange. >> it is a big week for the margaret but stocks have been idle for weeks despite the spike that bob was talking about. is this lull in volatility a sign that maybe the market is too quiet important investors are confused? michael jones, chairman and chief investment officer joins us now. mr. jones, welcome. good to have you with us. i heard a statistic earlier today that it has been very rare that we've had such a prolonged period where there has been such few daily 1% moves up or down with the major indexes. what does this suggest to you is going on? >> i think what we're seeing is a transition in the markets between the euphoria that characterized the markets right after trump's election to reality slowly setting in. i think what investors are recognizing is that there are prospects for the earnings gains th

it was the moment we chose to build a truly global britain. i know that this and the other britainwritten took -- took such a decision is not always well understood among our friends and allies in europe. and i know many fear that this might herald the beginning of a greater unraveling of the eu. but let me be clear. i do not want that to happen. it would not be in the best interests of britain. it remains overwhelmingly and compellingly in britain's national interest that the eu should succeed. and that is why i hope in the months and years ahead we will all reflect on the lessons of britain's decision to leave. so let me take this opportunity to set out the reasons for our decision and to address the people of europe directly. it's not simply because our history and culture is profoundly internationalist, important though that is. many in britain have always felt that the united kingdom's place in the european union came at the expense of our global ties, and of a bolder embrace of free trade with the wider world. there are other important r

amy: the global gag rule is s sn by many as a majajor global barrier to access to crucial women's health services. in this animated video, the president of planned parenthood 's it's a the policy works. this role, also known as the mexican city policy, was first put in place three decades ago by president reagan. current u.s. policy restricts organizations from using u.s. funds to pay for abortioion. the gag rule goes further by dictating what they can do with their own n money. this means if a clinic receives even one dollar of u.s. assistance for family plalannin, itit is doctorors andnd nurses d in what t they can d do to help their p patients. they cannonot counsel l a womana full r range of hehealth optiois legalllly availablble to h her,r her to another provider for specialized cacare, or even give her pamphlets w with medically accurate information. that is why they call it the global gagagule because e it prevents doctors from talking to patients of providing services legal in their own country and in the u.s. . and it keeps people from participating in the democrcratc process of

he is recognizing the importance of the global economy. hope that that will lead to good relationships with the united states and other economies around the world. i am optimistic about his ability to project a global view. >> what is the likelihood that president trump and his team next year will attend davos? >> i don't know that. it's beautiful here, very nice people interviewing you, great opportunities here, the food is good, i think a number of people are coming. this year they couldn't really come because they were having hearings, getting sworn in. >> don't you think also it's against -- he is trying to promote this america first, campaigning in the rust belt states, promising he will go after china and go after global trade. does that really make sense for him to be here? >> i don't think coming here is inconsistent with those things. coming here and meeting people from around the world is a good thing. >> david, great stuff. david rubenstein, founder and co-ceo of the carlyle group. >> still to come, barclays ceo, jes staley says

it is a global play. >> a global play and therefore, it was last year driven by currency changes andthat puts more risk into that market and we are comfortable with. we're certainly not going to overweight it. we see the brexit risk as very much on a 50-50 basis. either in 2017 it is going to because it will need a longer transition and one happen so quickly, or the french and german election really bring it to the front and lots of noise around it, which could upset markets and the currencies quite strongly. guest was stephen $1.39 and he was saying is where he sees it going. u.k. place that out as well. sterling could be a buy. do you think all the bad news is in sterling? we make it up as we go here. the lowest in months, would you buy protection? do you think all of the bad news is baked in? lothar: there is the 50-50 chance of it going either way. that is the problem. if it continues as it is at the moment, then yes, i would say it could be applied baked in because if we get this prolonged basis, that could be potentially positive for the u.k., but if we get a lot of air around

global growth including global trade and profits could benefit from that.ld be a good year fundamentally for the market. does that mean things like industrials and banks continued to do well? >> could be the positive. we talked about the rally in the dow and dow futures, the dow is a much more economically sensitive index that could be the case again this year. >> time for the results of our twitter and facebook question. we have a tie between uber and airbnb, 35% each. snapchat and spotify, 15%. my answer is spotify. >> if they even go public. we'll see at this point. >> i like the business model of spotify longer term. >> we'll see what happens. >> yourself? >> spotify and uber if they were to go public. an interesting story. >> be nice if all four did. >> that's is for "worldwide exchange." "squawk box" is up next. >>> good morning. starting the new year in the green, bigley. futures rallying. this might be the day. full market run down is coming up it would make sense in our new home. >>> and trump tweets, the president-elect sounding off on north korea

trading global passenger flows. are straight in the crossfire, aren't you? >> we are in a way, but there are so many markets, 200 odd and theetween dubai rest of the world. if one-to markets are going through problems, but we are so well spread was so much of the world population within a short flying distance from dubai, there are plenty of markets, and usually the market finds the way to react to these conditions because consumers are looking for value. they are looking for good service, and i believe we provide both of those in dubai. shery: you are currently the world's number one airport for international passengers. will that title be threatened in this era of protectionism? so, because we are now confidently ahead of heathrow, which is the number two for world international passengers, and seven .5 million ahead, and we are increasing that lead every month. we have 7.7 million people through dubai international through the course of 2016, and i think that lead is going to increase because our rate of growth i

talk about the global market, the global real estate market. pwc came out with their 2017 survey. interesting is how many cities in asia made it as some of the top markets. mitch: it is where those cities are. you have bangalore, mumbai, manila, ho chi minh city, shenzhen. you look back, you saw beijing, other cities. china is becoming a little less popular for global real estate investors. what is interesting about cities in india is you would think there's concerned about growth and that is why investors are looking where maybe the hurt isn't going. cvhina is concerns in the overbuilding. betty: how does the capital restrictions we are seeing now, how is that playing into the outlook for the chinese market? mitch: i think a lot of that --ls with institutional individual investors rather than institutional investors. what is interesting about the individual investor or the homebuyers, the growing middle class in china, and the fact that the american dream is becoming a real reality for a growing middle class in china, they want to own their home. you have a lot of supply that hit

i think the global system is at stake now, so can we save, readjust, reinvigorate the global systems,alues that we have always had and then there are three pillars in the army three issues, europe and russia. i think it was terrific that the secretary pointed to the european union because the european union it if they unraveled or more dysfunctional he cannot have a strong america in the world with a weak europe took it just doesn't happen. both of those things we need to reassure-- we need a reassurance for europe and we need russia to know that there are certain lines that cannot be crossed, redrawing borders, testing nato allies of s-uppercase-letter. the second is the middle east. here i want to embrace a report that the atlantic council has done, secretary albright and steve hadley where the outline not a crisis of the middle east, but a crisis from the middle east where you have extremism and migrants exported, again undermining europe. we can deal with that in the short term. a has to be dealt with in the long term with our allies, redoubling and deepening our relationship with