the china import expo starts today as president xi jinping tries to brand the economy asa jinping triesd the economy as a consumer of global goods and head of a potential meeting later this month between president xi jinping and donald trump as the trade war rages on in the background. is a beijing's desire to shift its role from the world's factory to the world's biggest importer a publicity stunt or a realistic goal? joining me to answer the question and shed light on this isa the question and shed light on this is a robin brant in shanghai. thank you forjoining us. i know you have been watching the proceedings that are to take place at the shanghai import expo for us. it is the country's very first. do you think that china will be successful in trying to rebrand itself as the global importer of goods, consumer, rather than exporter? well, look, president xijinping is rather than exporter? well, look, president xi jinping is throwing everything at it. this is his baby conceived in may last year. shanghai is hosting companies in the number of 3000 representatives from 300 governments,

important is when you look at this issue is, when will xi jinping back down?stion how much political pressure president trump will put on the chinese economy with tariffs or other things. ashley: is he doing enough in your mind? >> doing what is necessary and politically acceptable. but clearly chinese, xi jinping does not' to back down, he knows if he backs down he will lose not only power by he could lose more. he is all in, this is a struggle. ashley: you said, not just the united states, but the global community, losing patience with china. interesting beijing, i read here, trying without success to recruit france, germany, japan and other governments as allies against president trump, saying no way, they agree with the united states. contention that china is sheeting steal -- cheating and steals to boost its own economy. >> sure, the past year, policy on part of beijing to divide brussels from washington worked, it not working this year, they see president trump is providing leadership, everyone wanted to do something, but nobody did until this year, trum

jinping trump and xi say they are willing to meet at the g20 in argentina.an they allay the trade concerns? this is bloomberg. ♪ erg. ♪ manus: let's check the business flash headlines. plans to boost profit by $6.8 billion over the next eight years by streaming operations. bloomberg has learned the automaker will be spending more to develop and manufacture of electric cars, cut costs, increase the efficiency, and the try to make more money from new businesses such as digital offerings. united technology has cleared the final hurdle to complete a deal with rockwell collins. china has signed off on the $23 billion agreement reached more than a year ago. investors are concerned the trade dispute between the u.s. and china would hold up the approval and take over. it gives united technologies scale and negotiating power to deal with boeing and airbus. the cryptocurrency crash shows no signs of letting up. fell 25%berg index last week, the worst five-day stretch since crypto mania peaked in january. that coin is trading at just over $4200. that is your business f

the ri is central to the strategy of china and xi jinping.ut the story of the rise of china and the reality of the size of china's economy and and the reality of the size of china's trade. china is now almost equal in size to the economy of the united states. it depends on how you measure it. in some measurements, it would be bigger, much more trade than the united states, so the bri is a story of the rise and openness in china. >> in china, we say, you aim high and you achieve something a little bit lower. you aim middle, you may achieve the lowest. so the chinese people are very ambitious. but i like to say, china will be ambitious for the rest of the world. >> the 10 economies by themselves account for nearly 70% of the belt and road gdp. chinese firms have won some deals in these economies, but not too many. they are struggling, and in order to compete with the koreans, japanese, american, europeans -- all of the local firms, whether indian or turkish companies or chinese companies, chinese firms will have to adapt, which means collaborat

trump meeting. -- president xi jinping and president trump meeting.i was talking to earlier pointed out that this is really a binary event. it will either result in some sort of a thaw or cease-fire that takes the can down the road and leaves markets space to continue recovering from the november lows from a couple of weeks back, or, there is a breakdown, and the focus, again, is on escalation of tariffs, scheduled to kick in a january 1. and we could see a significant selloff monday. given the kind of binary outcome, it would be surprising if we got a major move in todayp. one thing to keep an eye on though, late in the day, the bank of japan will be releasing its monthly on the purchase plan . we anticipate that there will be some sort of tapering indication , some sort of suggestion that they really would like to scale back their bond purchases a .ittle bit in coming weeks haidi: chris, thank you so much. of market action, not much to write home about. flaccid to stuff, tokyo clinging onto early gains, a flat start in korea, and an extension of dec

meeting homburg to explore free trade possibilities only meet the man who advises such as president xi jinping as coming up with a home free and business. at the top of the hour but in the meantime of course there's always the web site b w dot com how to protect. the. earth. home is of species. a home worth saving. given those are big changes and most start with small steps little ideas tell stories of creative people and innovative projects around the world. to use the country when it comes to purchasing insurance and resource to try. to create interactive content teaching the next generation about what mental touch i should. use and all channels available to inspire people to take action and we're determined to build something new for the next generation coming along the ideas the environment series of global three thousand on t.w. and online. trying to reach europe at the hamburg summit he eighteen a gemini china says it's increasingly open to european investors they say that having a harder time doing business that we talked about and chinese president xi jinping turns to for advice. and t

or fall, the belt and road initiative will be seen as one of the great legacies of president xi jinping'spresident xi jinping said very, very clearly, we are not going to build a garden in our backyard. we are interested in building the beautiful garden with beautiful flowers which will be enjoyed by all the nations in this world. >> i think the ri is central to the strategy of china and xi jinping. it is about the story of the rise of china and the reality of the size of china's economy and and the reality of the size of china's trade. china is now almost equal in size to the economy of the united states. it depends on how you measure it. in some measurements, it would be bigger, much more trade than the united states, so the bri is a story of the rise and openness in china. >> in china, we say, you aim high and you achieve something a little bit lower. you aim middle, you may achieve the lowest. so the chinese people are very ambitious. but i like to say, china will be ambitious for the rest of the world. >> the 10 economies by themselves account for nearly 70% of the belt and road gdp.

xi jinping's speech not providing any relief. far as the markets go, apart from that line they are looking to establish a tech port, there were no tangibles. i think what is really key, you look at how markets are trading. it has been a rough morning. there is a lot of hope, and hopefully we do get a deal between the u.s. and china, because the gains last week not completely disappearing, but we are one step closer to that. hang seng down 600 points. currency markets, the dollar strength against em, not a lot as far as the majors are concerned. and have a look at where we are with the bond markets. year.n a u.s. 10 10 minutes from now, the sanctions and iran kick in. oil is down for the sixth straight day. this is bloomberg. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. paul: the f

it's official, president trump is in argentina and gearing up with crucial meeting with china xi jinpingn sidelines of g20 summit, washington and beijing have been working on a possible trade deal that would hold off additional tariffs till the spring. white house economic adviser navarro will be with xi. lauren: blake berman in buenos aires with the details. >> one meeting is off while another gets expanded. president trump will not have sit-down with russian president vladimir putin after being briefed by john kelly, secretary of state mike pompeo and the national security adviser john bolton, the president canceled the meeting, one that's most certainly on is the dinner saturday night with president xi jinping of china, president trump setting that up meeting by casting doubts that any sort of trade breakthrough might occur. >> i think we are very close to doing something with china but i don't know that i want to do it because what we have right now is billions and billions of dollars coming into the united states in the form of tariffs or taxes so i really don't know but i will tell

jinping -- cani president xi jinping say anything to make an impact?e wants to hear from the president, a commitment to open up sectors to have a reciprocal between theement u.s. and china that opens up sectors ranging that remain difficult to get into at the moment. official. a senior eu president xi jinping talked about the commitment to upholding the natural trading order. european'so see the commitment to addressing concerns, whether that is intellectual-property theft, cyberattacks or market access. they want to see these addressed. if it doesn't, what you make it is another articulation between the sides on how to address these trade tensions. the view from some is that what we are going to hear from the president and others is a commitment to buy more. you cannot buy your way out of this situation. we will be speaking to some of the corporate leaders that are attending this event. it is very much president xi jinping's speech that will make an impact. i've been speaking to the ceo of a small but fast-growing company based in beijing. they are in

this is pence and chinese president xi jinping where they exchanged jabs where xi jinping criticized the trump administration's america first policies. the vice president referring to the $250 billion worth of tariffs levied against chinese goods. '. >> we have great respect for president xi and great respect for china. but in the president's words, china has taken advantage of the united states for many many years. and those days are over. reporter: president trump and chinese president xi jinping are set to meet on the sidelines in argentina it's seen as an opportunity for the two leaders to work out their differences in a growing trade war between china and the united states. arthel: we'll bring in christian' whiton. in terms of allies in the commitment to the region. who had the better presentation. president pence and president xi. what are our allies look for and how does that tee up this meeting between trump and xi at the g20, and what can we expect to come out of that meeting? >> the u.s. allies are looking for a continuing commitment. the united states withdrew from the tra

will the trade meeting between president trump and xi jinping.dent trump and xijinping. will the trade war, will there be a truce declared and that all that continue? donald trump, a few hours ago, it said maybe they we re few hours ago, it said maybe they were moving closer towards a deal, but did he really want to do a deal a nyway but did he really want to do a deal anyway because he quite liked things the way they were now? chinese officials we know of wanting to avoid that next raft of tariffs being put on chinese goods, which are due to kick—in onjanuary one. earlier i spoke to andrew reeves thompson, a visiting public policy expert from the national university of singapore. i asked him on what to be expected from trump—xi meeting. well, the us and chinese had been having meetings in the run—up to this meeting, but so far no details have emerged. it will be up to donald trump and xijinping as have emerged. it will be up to donald trump and xi jinping as to whether or not they can chart a way ahead. does the american president really wa nt a

we saw that speech by xi jinping .roposals, nothing new if anything when it comes to china we have seen them --. how can we expect to find a breakthrough? offer any20 clarification on where this .elationship is headed >> clarification is a long way from now until the g20. investors will have to deal with the usual that things are better or worse. -- i don't think investors should be surprised or taken aback. the test is whether the chinese will make changes after the deal . >> at this point this comes at a time when you have this massive mood of the growing middle class . how much does this affect -- if we continue to see trade friction and if it gets worse. >> i does it at the trade friction matters that much. u.s.record level for the bilateral deficit last month. think the risk is rising and chinese policymaking is reacting to that. if china retaliates that will reduce living standards in china. think the reaction has been what the u.s. has done to date. the question is are we willing in an election year in 2020 to g

again before the meeting with china's xijinping on once again before the meeting with china's xi jinpingof this week's g20 summit in argentina. yes, the statement came from the wall streetjournal, and he is threatening to push ahead with an increase on tariffs currently imposed on chinese goods at the start of 2019. an donald trump said that he would hit the rest of chinese imports to the us with ta riffs if chinese imports to the us with tariffs if talks fail. that could be half $1 trillion, sally, in total. ta riffs half $1 trillion, sally, in total. tariffs on $200 billion of chinese goods will increase 25% from 10%. and the tariffs were first imposed in december and and the tariffs were first imposed in decemberand mrtrump and the tariffs were first imposed in december and mr trump is not quite optimistic on the outcome of these talks with president xi jinping saying it was highly unlikely that he would agree to beijing's request to hold off on the tariff rise. he said apple iphones and laptop computers imported from china would maybe also be subjected to tariffs. he launched a trade

we are still waiting for president xi jinping to make an appearance.this summit is going on and it is huge for president xi jinping, a time for him to shine, investing so much almost $6luding million for infrastructure spending. we are still waiting. in comparison, it is smaller than every u.s. state. this battle for influence between washington and china. next,onp geopolitics. this is bloomberg. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. shery: we are getting breaking news out of singapore right now. imports,tting domestic gaining 8.3%. also in line with the previous month of september. .his, a huge beat despite the fact that we had a very high base effect from the year before when we saw exports rising 20%. for a 1%tation was rise in the month of october, but now we are getting this number. it is al

this is a dynamic that xi jinping talks into. they are going to respond to this. , i think at the moment he doesn't look super secure. it is not like he is better than he was six months ago. the american pushback has unsettled him. tom: thank you so much. thrilled to have kerry with us with perspective on this important dinner. it is great to have you guys here wrapped around all of this international relations. how is pimco changed its definition of changes for investment given this news flow? is that the tried-and-true institutional three-year or five-year view, or is there a change? gene: i think there has been very little change. like most investors, we are trying to weed through the political noise and decide what is signal and what is noise. a lot of this has been noise. i think the set up to this g20 is one where, a little bit like the fed, we have created a low bar for success. the market is set up to rally on something that is probably pretty marginal and not really game changing. we continue to look at the same old rang

we are expecting president trump to meet xi jinping summit.line of this summit could have a resolution in the deal in trades between the two countries which have been undermined by threats by the us president. the first lady and the president. the first lady and the president had that 10—hour flight, president. the first lady and the president had that 10—hourflight, a little fa ct president had that 10—hourflight, a little fact for you, they were tweeting from the flight. if any of you follow the president or the first lady on twitter, they were tweeting from the flight and they will be spending around 48 hours in buenos aires for the g20 summit and a crucial meeting with president xi jinping. 0nly days before the summit in argentina, the president said that the current tariff levels on chinese imports of would rise as planned. this stage an escalation of the trade war between the two nations. and absolutely crucial track meeting due to take place on the sidelines. here on bbc world news we will bring you every single than that and any outcom

president xi jinping first stop was to leave your reef at a monument dedicated to a national hero. resign. independence from spain delete eight hundred routes now he's ordered by the leader of a could she be here had long considered a threat to the country's independence until now. the new. members of papua new guinea's armed forces have stormed the parliament over a pay dispute stemming from the apec forum that recently hosted they broke windows smashed furniture and told pictures from walls inside parliament house the government has said it will pay the money within a week there were scenes of jubilation after a court in india handed down the first death sentence over the mass killings of sikhs in one thousand nine hundred four yes paul singh was sentenced to death and not in a rush hour watch was given a life sentence for the murder of two young men at the time more than three thousand six were killed in retaliation for the assassination of then prime minister indira gandhi who was shot dead by his bodyguards britain's religious society of friends known as the quakers say they a

eight channels in my hotel, all xi jinping all the time.t of talk in the foreign business immunity. there is no revolt were pushed back to speak of. the only thing he used in these conflicts to solidify his position at home. if he sees any grounds for discontent, it will come so quickly we never saw it coming. i think he is safe. he is getting tighter and tighter at home every day. last week we heard secretary pompeo had to cancel his meeting with his north korean counterpart. from how much longer can the u.s. sustain a trade war with china when you have north korea to deal with? >> i don't think they are related. even if we have a trade war with china, they will still back north korea because it serves his purpose to keep korea divided which is what china's interested in and they are making out great from the need -- denuclearization process because trump has unilaterally canceled military exercises in the south. so he is a great gift for president xi. the trade war could be a rounding error. he could think this is the time to get the u.s.

president xi jinping first stop was to lay a wreath at a monument dedicated to a national hero. fought and died for philippine independence from spain in the late one eight hundred s. now he's ordered by the leader of a could she be here had long considered a threat to the country's independence until now. to northern california now where two more bodies have been found bringing the number of cold and wildfires there to eighty one watching the using cadaver dogs to search properties and vehicles heavy rain that's forecast for late on wednesday could hamper efforts to find human remains. donald trump's lawyer says the u.s. president has submitted russian on says to questions by special counsel robert muller he's investigating a trans campaign colluded with russia to influence the twenty sixteen presidential election trump has repeatedly called the investigation a watch hunt and says he would not stop his acting attorney general if he moved to curtail the inquiry. and sent an american asylum seekers have arrived in to you want to join those who are already in the mexican city mean

president xi jinping first stop was to lay a wreath at a monument dedicated to a national hero. fought and died for philippine independence from spain in the late one thousand nine hundred now he's on nerd by the leader of a could she barely here had long considered a threat to the country's independence until now. manila. passengers who survived a ferry sinking in tanzania two months ago say they still traumatized but these two hundred twenty eight people drowned in like victoria within me to shore of the island and. most of them were women returning from catherine sawyer met some of the survivors. shops restaurants and pabst lined the main street of the island of carra with homes scattered in between a few thousand people leave here they know each other and depend on lake victoria for most of their needs. so when an overloaded ferry capsized two months ago on a market day it was everybody's loss most of the more than two hundred passengers who drowned while women from the island some survived including grace alicia and had then gone to relatives didn't make it off the capsizin

assigned at the entrance proclaims love the party love the country close by photos of president xi jinping are projected onto a giant screen in one he's surrounded by a group of forming local muslim weekers the pictures are more than four years old. the streets are quiet in this ancient oasis city on the old silk road you're closer to baghdad than beijing here but one thing strikes you quickly where are all the young men. invocation or education training state t.v.'s been providing answers some of these men and women are getting an education in what are described as vocational training centers that offer occupational skills language cultural and psychological training skills their parents prevented them from learning at school says one political commentator but they cannot find productive employment in the cities and other areas where they would need these basic skills reading writing

fair there's a lot of rhetoric about opening a good opening its economy further but president xi jinping remains fuzzy on details. of the day ahead of mid-term elections in the u.s. as trump and nor makes actually worked we go to virginia where drums tax cons have achieved very little. this is the the view business i'm going out of as well. as we've heard in the news fresh u.s. sanctions against iran will come into force today these sanctions will only hit iran's oil exports banks energy and shipping counters companies from other countries currently doing business there also affected time to for example the p.s.a. group who make sit around the persian and many others have already suspended their activities in iraq most european all companies including totality also winding down operations iranian oil shipments to europe have already fallen by fifty percent over the past year the u.s. wants the e.u. to drive down its a rainier oil imports to zero they also want iran to be cut off from the international financial swished system that's a global cross border payment work. have a look at how

xi jinping doesn't have the economics here. this dispute as the president refers to it and the war as she jinpinxijinping styles it, theyt going to be treated like on emerging market as they begin to dwarf. >> we did that for 30 years. they're no longer -- they're now a major super power. lou: they're no longer going to be stealing from us. >> they steal $300 billion a year. we started this discussion talking about the stock market. you get this trade deal done with china and the stock market is going through the roof. you heard it first here. the stock market goes through the roof when we get that trade deal done. lou: i think that we have to do far more than that and the president has the corset to achieve all of it. hi thini the he e needs his ente agenda but i'll take note of it. i'm going to hawk your book. >> i love it. lou: stephen moore, the book, we recommend it. >> don't sell your stocks now. don't sell low. people always make that mistake. lou: you're not supposed to buy high and sell low? i didn't know that. >> stay

that might create some pressure on xi jinping to move. i mean he has just made a big statement trying to become president for life, there's a lot of people there who do not want him to be president for life.that might add to their arsenal against him, political arsenal, right? >> if you're asking me, i would think, yes. but on the other hand they have gone through an economic downturn for really quite a while now. so i would -- >> it accelerated so quickly because -- >> but, and i am certainly not an expert on the chinese mindset. are they at one point, and maybe blake knows the answer to this, at one point, are they going to say, i surrender! or are they just going to dig in and say look, we are basically a state run economy. let the people here suffer, we're not going to back down in this. i don't know the answer to that. >> china is looking -- >> what are you hearing? >> you know, you bring up the point, david, about the president xi jinping being present for life in president trump has a guaranteed two years in office, potentially six

president trump and china's xi jinping. this is "bloomberg real yield."an: i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. coming up next week, we hear from jay powell and get minutes from the latest fomc meeting. a new round of data on the u.s. economy, including gdp, and the highly anticipated g20 meeting that features trade talks president donald trump and between china's xi jinping. final thoughts from ira jersey, noelle corun from invesco and jose rasco. let's look ahead to next eek. ira, what are you looking from the talks? ira: we would like some closure. markets hate uncertainty. having closure, knowing what any kind of trade deal may be would be great. are we going to get it? no. the likelihood of getting something definitive at of the g20 meeting is low in my opinion. jonathan: the markets have settled on the idea of no fundamental change. but the cease-fire might be enough to get a rally. is that what you are looking for next week? noelle: i don't think we get a ease-fire. i agree that we would love some cl

she jinping, the same guy who's going to see trump at the end of this month. he actually stood in the rose garden with president obama september 2015, promised china would not have american companies or commercial purposes. china never stop attacking. in fact, we saw from the u.s. trade representative's report last week have actually continued especially since the middle 2017 they've ramped up there hacking for commercial purposes. eric: meanwhile that didn't result in any agreement. first time that ever happening. a delegation canceled its trip to washington to talk about this. you would think the president is standing fast and there will be an agreement. >> a number of people say that but a lot of people say there will be an agreement and i just don't know. i don't think anybody on the outside really knows it may be president trump doesn't know what he's going to do. the important thing is for us to keep the pressure on because we don't need to get the chinese to promise to be better. we need the chinese to be better. until they actually stop their intellect

. >> trade the president meeting with chinese president xi jinping at g20 this week on friday look anything that happens, would probably be seen as positive, because the market is not expecting much but what is your expectation in terms of a trade deal with china? that would be tret impactful won't it. >> it would be, i think the president has said he said he is ready i think that over time xi is becoming more and more ready as pressure increases in his own country,

the architect behind the event is chinese president xi jinping he's flown in numerous heads of state from all over the world. in a world of increasing globalization this lure of the jungle approach where the winner takes all will only lead to a debt and inclusiveness cooperation a mutual benefit the only ways forward. u.s. president donald trump was not at the fair in anger over the high trade plus he slapped punitive tariffs on around half of chinese imports and is threatening with more china is now making vague promises to open their markets based imports and reduce the surpluses from we're going to china will further lower tariffs improve the level of convenience for customs clearance reduce the institutional costs in the import sector. will accelerate the development of new types of business models such as cross border electronic commerce bargain. china currently exports around five hundred billion dollars worth of goods to the u.s. every year but only imports one hundred sixty five billion dollars. the international exhibitors in shanghai including americans can only hope the im

he's expected to meet with xi jinping. those talks could be a big gamble, especially when it comes to a red hot part of china's economy, gambling. gaming revenues in macau topping 33 billion last year how does that compare? that compares to 26 billion for vegas. macau now far bigger than vegas. the question is this, will this trade turmoil impact the casino names? joining us is david katz from jeffries and also contessa brewer who covers the casino stocks for us. first to you, contessa, i know you have to run to do other things this is a big deal for gambling as well. there's a lot ri >> there's a lot riding on this. names like wynn, mgm, las vegas sands need to know they have some security, that their gaming license in macau, their concessions will be renewed. if the chinese have run out of goods that they can tariff from the united states, they start looking at qualitative measures. one concern is that they could look at those u.s. operators in macau. generally the consensus is they would not do that it would send a chil

xi jinping spoke yesterday at the china international import expo and he reiterated what we heard xijinpingthat china isa we heard xijinping say, that china is a champion of globalisation and free trade and crucially he said they are committed to opening up their market. but to hear from two of china's top rows in two days suggests one thing, that they are immensely worried about this trade row. many of the trade partners are worried also. chief amongst them australia. i spoke to the former prime minister of australia and he had this to say. the key thing, in all of our engagements with beijing and washington, is to be able to say to both of them, quite directly, political leaders, business leaders, think tank is, that it is possible to carve a rational way through this and secondly it can be done if the us agrees in turn on what outcome it actually wants. i think the responsibility for all of us is to say the reason global economy at sta ke say the reason global economy at stake here, and that the reason a rational way to go through it. —— varies. kevin rudd now runs the asian institute. n

massive show of economic openness and port trade fair in shanghai full of promises but president xi jinping remains fuzzy on details. and to trade or not to trade that's the question for many multinationals doing business with iran sanctions are in force and they could mean big penalties. i bet for us all and lots to business a lavish week long important submission in shanghai portrays china as a vision of globalization the chinese economy has long taken full advantage of the global trade system flooding the world market with cheap exports but it imports relatively little. china presents the typical images you'd expect from a modern dictatorship brilliant light spectacles shanghai by night and singing children with flowers the architect behind the event is chinese president xi jinping he's flown in numerous heads of state from all over the world so. in a world of increasing globalization this lure of the jungle approach where the winner takes all will only lead to a debt and inclusiveness cooperation a mutual benefit the only ways forward. u.s. president donald trump was not at the fair and

purchasing managers actually had a lot of pressure on xi jinping ahead of its high—stakes trade talksofficial pmi fell to a 50 point mark, which is considered neutral territory. a bleak —— blame a further weakness in new orders from the trade market. this trade dispute between us and china is starting to have an impact on the mainland economy. so this meeting between trump and xi jinping, their first meeting since both sides began imposing tariffs on each others did earlier this year, is crucial to the future of the chinese economy. but when you speak with market watchers, like your guest earlier, they don't really expect a major breakthrough in this trade disputes. thanks very much. now let's brief you on some other business stories. 6erman chemicals giant bayer says it's selling off several businesses and cutting around 12,000 jobs, or one in ten workers worldwide, with a significant number in germany. bayer stock is down more than a third this year following its purchase of us seed company monsanto, which faces thousands of lawsuits over cancer cases allegedly caused by its weedkil

is under pressure as a result all of that comes days before his meeting with chinese president xi jinping apple shares down almost 2%. the news has markets on edge this morning after that big rally yesterday take a look at markets fractional losses down 20 points right now s&p 500 down 5, and nasdaq down ab third of a percent e lower on nasdaq where it performer. markets were led higher by retail easer strong start to holiday shopping season. dow industrials up 354 at the close yesterday one and a half percent. nasdaq with a gain of 143 point better than 2% higher on nasdaq. yesterday at the close, let's talk global action this morning, in european markets down a quarter of a percent and tariffs down a fraction and dax index down 20 points lower there as well. in asia market closed mix worst performer as you can see was really a fractional mover on hong kong index down best performer korea as was japan. another industrial giant breaking itself up united technology announcing to split into three companies details on the dow component coming up here. early christmas gift for atm users in te

the most important, president donald trump meeting with xi jinping and talking about trade.e haven't seen a lot of damage in the data yet. selloff quite a bit in the third quarter. is that a canary in the coal mine, or is this may be overblown as an economic issue in the world? rather drastic a impact already. i will give you a fast example. six months ago, in may, we projected that the growth for 2019 was going to be 3.9% or something like that. maybe 4%. global growth, world growth, scratching 4%. , sixst put out last week a projection for 2019, 2020, we will grow 3.5. and 0.5%. 0.4 half of one point. in six months time, i called in my economist to say what happened? well, that is trade tensions. atember trade is now growing 3%. it was already growing at 5% per year. it should be growing at seven point 8%. if you are not sure that you will sell, or at what price, then you don't invest. an investment is tomorrow's growth. is aally what you have clear explanation of why it is that the world economy has now decelerated. we are in a slowdown. the most?fers china, the u.s., col

it was at about this time the president xi jinping began promoting what was to become a key economic policy the so-called one belt one road initiative the plan to bind china to europe and the middle east through infrastructure trade and investment but for that ambitious plan to work has to work during our time in shin jang our movements were tightly controlled by government minders who later forced us to delete much of our video we were warned not to talk to anyone even about the silk road project. this is a replica of cash cars old city the original we were told is still being rebuilt just as it was three years ago when i was last here. and here we were presented with a picture of ethnic harmony an elderly wego man and chinese tourist dancing a spontaneous moment insisted on minders but like the setting it felt contrived adrian brown al jazeera in cash. king mohammed the sixth the morocco says he wants to improve diplomatic relations with neighboring algeria by opening the border it's been closed since one thousand nine hundred four when morocco imposed visas on visitors from algeri

chinese president xi jinping is on a regional charm offensive fresh off the apec summit.nila today. our correspondent told me what china wants from this visit. it's all about the south china sea and those huge gas and oil reserves that people believe are out there. this is also a waterway where trillions of dollars worth of trade flows through every year. relationships have been warming up. as you said, duterte has said it was like a flower blossoming, and xi jinping said it was like a rainbow after the rain, and he's referring to relations with the philippines and the former president aquino where relations got frosty. there was a ruling in the court of arbitration which suggested china's claims to this south china sea just off the philippines were illegal. since all that happened, duterte has shelved that in favour of getting closer to china, trying to woo some of that money his way, to try to find that build, build, build project. $24 billion worth of projects. at the moment, only $125 million have been pledged, or have actually been seen by this country since that dea

angela merkel will be talking with xi jinping and teresa may in britain is just happy to be there givento see how canada, trudeau and trump get along, hug or handshake. there will be some bilateral issues and it shows trump is willing to be a smooth diplomat, uping the importance of the g 20 by bringing such important issues to the table in a major international forum. rob: if you think about the different relationships he has and the big meetings that could happen he has a lot on his plate in argentina. we appreciate your time. jillian: 19 after the hour. justice for the four americans killed in benghazi. what we learned about the terrorists behind the deadly attack. rob: black friday deals are not just for tv anymore. where to score some free food. you will be hungry from all that shopping. ♪ there are so many toothpastes out there which one should i use? choose one that takes care of your gums and enamel. crest gum & enamel repair cleans below the gum line and helps repair weakened enamel. gum & enamel repair, from crest. essential for pine trees, but maybe not for people with rheuma

xi jinping putting the party back in control.t is creating concerns that andlt in resistance reluctance to accept chinese investment. i would say asia, it is more qualified. companies want to do and if it from chinese investment. countries like malaysia with the leadership being reluctant to embrace the investments. i would say we are in a. -- time of a wariness. the direction that xi jinping vague and very everyone wants to know what is china -- what does china look like over the next 10 years. >> thank you for your time. in a moment, qualcomm and a week revenue forecast after zero orders from apple. that is next. this is bloomberg. ♪ we are seeing nikkei futures gained 1.8%. that is after they fell on the last session. let's get the latest breaking news on the bloomberg. for japane orders coming in for the month of september. following 18.3%. a much bigger fall than expected. the expectation was a fall of 9%. after a gain of 6.8% in the previous month. .hat fall is 18.3% you're on year also falling. also, much bigger than expec

something else putting investors on the edge of their seats, it is the xi jinping, donald trump meetinge see a resolution? i hope so. what is happening with both economies is that they are both being affected by the trade dispute between the two countries and it is closing a slowdown in china, some kind of slowdown in china, some kind of slowdown in china, some kind of slowdown in america and american companies are hurting as well. this trade dispute is hurting the two economies, which is causing the rest of the world to slowdown also and we wa nt to of the world to slowdown also and we want to see that. you mentioned american companies being hurt and one of them is general motors cutting down 14,000 jobs over the next year. will donald trump now put more pressure on asian economies to increase their quotas and buy more american cars? the problem isn't so much that asians are not buying american cars because of any kind of trade dispute, they are not dying american cars as they don't like american cars as they don't like american cars. to big e? all sorts of reasons at. if you look at t

the perpetrator in riyadh or under seventy five in istanbul andrew thank you how does president xi jinping says world growth is being overshadowed by protectionism speaking at the apec summit in papua new guinea he referred to us china trade tensions calling protectionist actions shortsighted and doomed to fail us president onil trumps decision to skip the yearly event has allowed them to take center stage at that summit and are some thomas joins us live from the summit so there have been opening remarks so far what is the tone and are. or a shell the sea in a perfect stance for cooperation but in the speeches that leaders have been giving so far on saturday it seems so stirred more for regional competition and certainly that is true first of foremost for the speeches of both paying and mike pence that he speaks as well from political leaders of russia malaysia australia and chile but it was really those two speeches because the vice president of the u.s. mike pence i was the president of china they represent the two biggest economies that are part of the group now mike pence used his spee

president xi jinping will meet the senators and other politicians in the house of representatives this. after that, he is expected to meet members of the filipino chinese community. what we're seeing is that trade has really blossoms, foreign direct investment has gone up a lot here, it is being seen as a very good economic relationship, particularly with president duterte's build, build, build strategy, in which he has been pledged more than $20 billion from china, still waiting to see more of that money at the moment. 0nly see more of that money at the moment. only $125 million has been seen so moment. only $125 million has been seen so far in various infrastructure projects under way, at president xijinping infrastructure projects under way, at president xi jinping will leave today on a flight back to china. thank you. you're watching newsday on the bbc. still to come on the programme: how drone technology is being used to help rebuild damaged parts of the great wall of china. benazir bhutto has claimed victory in pakistan's general election, and she's asked pakistan's president to

vonnie: all eyes on saturday night and the dinner with president trump and xi jinping.ks to michael mckee in argentina. he will have an interview with the oecd secretary-general next hour. stay tuned for that. guy: you can find all of the fantastic optionality we use on yourloomberg, g tv on bloomberg. pull up the charts. battle of the charts coming up later on the program. this is bloomberg. ♪ london, i am guy johnson. vonnie: in new york i am vonnie quinn and this is the european close on bloomberg markets. deutscheany has raided bank and a money-laundering investigation in their quote -- and of headquarters is among the places searched. we are joined by our banks of water who joins us live. they share price has dropped. what do we know about this investigation and how serious it could be for deutsche bank? >> we know that the police deployed 170 law enforcement officials that raided six locations including a private home. one suspect was in the raid. the scale of the operation was quite big. hard to say what it means. everything that smells like a legal problem

president trump and china's xi jinping.s is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. it is time for the final spread. coming up next week, we hear from jay powell and get minutes from the latest fomc meeting. a new round of data on the u.s. economy, and the highly anticipated g20 meeting their features trade talks between the was president donald trump and china's xi jinping. her final thoughts is ira jersey, noelle corun from invesco and jose rasco. ira, what are you looking forward to from the talks? ira: we would like some closure. markets hate uncertainty. cap enclosure, illiquid any kind of trade deal may be would be great. are we going to get it? no. the likelihood of something definitive is low in my opinion. jonathan: the markets have settled on no fundamental change. is that what you are looking for next week? don't think we will get that. these things take time. history tells us they take time, especially the strategy related to trade goals that the administration has. they will continue to be hi

an american vice president mike pence traded barbs in speeches to world leaders jinping called protectionist actions shortsighted and doomed to fail appends said there would be no letup in the trumpet ministrations efforts to combat china's trade policies and intellectual property theft so paul. resorting to old practices such as protectionism unilateral ism will not result problems but also add to the uncertainties to the corporal economy history tells us taking that road of confrontation whether in the form of a cold war open war or tried war will produce no win it. we have great respect for president. and great respect for china. but in the president's words china is taking advantage of the united states for many many years. and those days are over as the president said and china has tremendous barriers they have tremendous tariffs and as we all know their country gauges in quotas forced technology transfer intellectual property thirty industrial subsidies on an unprecedented scale. i'm france a protester has been killed and more than two hundred injured in demonstrations against the risi