let's go back to paul romer. you have an economy in china that is different from ours. ore options in dealing with a trade war. paul: i've been visiting with china recently, i've been invited to give talks in the tech industry, and the mood there is grim but also determined. they have decided the united states is not a reliable trading partner and they cannot maintain their economy or their tech industry if it is dependent on critical components in the united states. i think they are on a trajectory that they will not move off of, becoming self-sufficient in tech. even if there is a paper deal that tries to cover over this uncertainty in this trade war, i think we have seen a permanent change in chinese approach. david: is it possible for them to become self-reliant and over what period of time? how long are we talking about? was: that was a question i asking people and they seem to think it was a long time. not five years. maybe 10 years. they will figure out a way to manage the transition but there is no question that they are on a trajectory to be completely independe

. >> we talked with paul romer, the nobel prize winner in economics this morning, and this is what he to say. maybe antitrust laws are not the way to go with some of the issues we are facing. this is what he said. >> it goes beyond traditional economic concerns. one of the questions we should be asking is if mark zuckerberg personally can determine the outcome of the next election. >> whether or not he can in fact determine the next election, certainly he will have some influence over it. that really is outside of your job, isn't it? bruce: it is. it is important to keep in mind that antitrust enforcement is law-enforcement. we look at a set of specific laws in the department of justice and we enforce those. conductlook for his that's anticompetitive, mergers that hurt competition. we are not price regulators. we don't regulate content. regulators competent and we enforce the law on competition. >> you have set up a specific task force to look at what is going on. the ftc overall has an having hearings. there must be some reason for you to ask the question, does our traditional approa

later today, bloomberg daybreak a, a conversation with paul romer.of our lives. in the 8:00 hour, and this is bloomberg. ♪ ♪ all the instruments that we have including those that you have mentioned, if needed, if broughtmay fail to be back in line with our objective. he is a very good central banker. europenot discussing in how we will take our decision, it will be a common decision of 14 different countries, and i think we will make it. francine: that was the german hotznce minister olaf sc indicating support for one candidate as the new u.k. prime minister. now two your single best chart. side, dana american peterson from citigroup with us. and on a relative basis, the inflation estimates of the united states and all you need to know is europe is worse, you're a posse equivalent is down here. bettere are still in a position on inflation guessing than the euro. do we maintain that in the coming data-dependent quarters? dana: inflation is certainly missing the fed's 2% and -- 2% objective, and we are doing better than everyone else. and the fed is st