what is bad for apple is bad for the prc. the chinese economy depends on our market a heck more than we depend on those. i think president trump will take the pain. our economy is strong enough that he will let boeing and caterpillar, and united technologies get hurt. same for proctor and gamble, beverage companies or yum china. we hear that the chinese have more than a trillion dollar in treasures and can hurt if we dump them. that is nonsense we know many u.s. outfittins wat to do business in china. same for most of the techs like ibm, intel, cisco and microsoft. but, that is a t rex which has fangs. f.a.n.g does little there. facebook hasn't been able to crack the market neither has amazon, nor netflix which stock was up huge today. and alphabet's google. google hasn't been willing to play play. f.a.n.g is going to rally the most because f.a.n.g isn't china. china is now gm's largest market still the stock got hit today just like boeing some are betting that gm is going to be a loser there. if you want to do business there

the prc needs to be as robust as possible. there is now a new nominee, and we hope that vacancy gets filled. the postal regulatory commission can deliver -- eliminate the arbitrary price cap. give the usps more pricing flexibility. they may not take it, but it should be there. this would allow the postal service to maintain the lowest postal rates in the industrialized world. before i close, i want to say something about packages, because i know mr. schapiro is big on let's privatize the package side. i hope he told you where his funding comes from, it comes from the members who work for the postal service. his research comes from ups. us tryinghe idea of to enrich one company at the expense of the people of this country. i do want to say this, packages are not new to the postal service. ups and fedex are relatively new in a historical sense and those companies do a good job. but they are relatively new to the industry. 1983.hired in i did packages all night long. this is not new. what is new is there is more competition, and

it need to be a board because they set policy and the prc needs to be robust. and there's a new nominee and we hope the vacancy gets filled as well. and the postal regulatory commission can eliminate the arbitrary price cap. we raised that also with that task force, give the usps more pricing flexibility. may knock tate it but at least it she be there and this would still allow the postal satisfies to maintains the lowest postal rates in the industrialized world. before i close i just want to say something about packages. i know mr. schapp pro -- shapiro says let's privatize. his postal research comes from usps. ups, and i reject the idea of us trying to enrich one entities or one company at the expense of the people of this country. but die want to say this. packages are not new. toe the postal service. ups and fedex are relatively new in a historical sense and those company do a good job but they're relatively new to the package industry. i was hired in '83. i did packages all night long. this is not new. what is few is there's more competition. and so be it.

from the american forces on the mainland of asia and as long as there is a prc that is probably goingto be the condition. so they wouldn't like to see them collapse. how far would they go to see that that does not have been? that's a good question. >> we hear about this in south korea. how likely is it that there would be a direct confrontationn to the direct military and north korea. >> how well they are at the decision-making could have a confrontation with north korea, the anti-americanism in south korea reached its peak in the 80s and one can understand why it was there although it was unfair. they were a middle-class country with a burgeoning economy, and they didn't have their own government. and their own government was telling them it was because we were there. it is probably arguably the most transparent democracy in all of asia. young people in korea are different now than they were in the 1980s. so i would say that while there may be some in some people, it is certainly an extreme minority and has been for a while. if your question wasn't asked t, join us at the back table.

but that estimate by the prc is based on the historical cost of the property and real estate. what it cost to buy the land and build a post office 10, 20, 40 or 50 years ago. wish my properties work that way. using current value, which comes from the postal service is inspector general, the tax exemption actually saves the postal service almost $2.4 billion in 2016. another example. the postal service owes federal income tax on profits from the postal delivery division and paid $1.4 billion of taxes in 2016. it deposits tax payments in a special postal service fund at the treasury. lo and behold, the postal service fund allows the postal service to withdraw any amount from that fund to cover expenses. in 2016, it withdrew its $1.4 billion tax payment almost immediately. that is a subsidy. the cross subsidies occur when the savings help support not just universal mail delivery but the competitive division for package and express mail deliveries. this cross subsidization receives public attention recently when president trump denounced the low rates amazon pays the postal servic

one i sort of based on the prc's increased assertiveness in the region that was described by roger and one is the traditional what i would call status quo u.s. vision for pacific security. those two contests -- those are two competing visions that are actively being contested right now. that's the first -- first contest. the second contest that we actually picke up relatively late in the process of doing our study is there was actually a contest in the united states national security community about exactly how much we want to go all in in the -- in the indo-pacific region, right? you can call it an elite/count elite argument. that's not completely accurate. you can call it, you know, a euro-focused sort of russia-focused perspective versus a indo-pacific focus and it's real and it's happening. what we found actually is that we found in the running out of our study results, we found that there were -- there were some constituencies that were saying why is this actually as important as you're making it, so that -- those two contests i think will certainly determine u.s. position in the

in many ways, kim jong-un relythe united states in de concessions from the prc and so on, so forth. now, there is one important observation i want to share with you and that is, trump just abandoned, um, the jcpoa, right? our deal with iran. and we have to wonder, given this abandonment, why is kim jong-un still pursuing this summit meeting? and to me, you know, the big key issue here is, what kind of incentive is kim jong-un going to provide at the summit for trump and still we have no idea what those demands will be. >> yeah. summit still two weeks away. we'll see what happens. professor lee, thank you for your insight. >> thank you, professor. >> thank you for having me. >>> now to some new information in the case of the alleged golden state killer. a judge in sacramento just unsealed redacted search warrants in the case. we are learning that back in april, investigators used dna from a car door handle to identify 72-year-old joseph deangelo as the likely suspect in several homicides. after that dna came up to a match to crime scenes in ventura and orange county, investigators re

is it time to re-orient to our peer competitor being russia or then soviet union to the prc now? are they number one in our competitive department? >> i think they do pose the most serious threat and, frankly, an opportunity for america, if we can get it right. if you compare and contrast the two as between not the soviet union but russia and china. we have one that has wealth and resources. and the other that is a power that is struggling mightily. we need to make sure we understand what china is doing. the president has been very clear about the risks to america associated with their willingness to steal our property, intellectual property and otherwise. eyes wide open with respect to russia's efforts in the south china sea and around the world to build out much bigger, stronger, tougher country. there's things we need to do alongside them and where we have shared an interest. where we don't, we need to make sure america is properly positioned to speak to them about each of our two country's respective roles in the world. >> when you sat down with president xi, was it cordial?

. >> china's economy >> not the people but the prc.he prc can you find some other way other than polluting the world skies and making steel can you put people to work in the eighth darn army that's what you used to be mao used to build up the eighth army and make a lot of bridges >>> we'll talk to larry kudlow in a few moments about all of this the jobs number and how it relates to trade speaking of trade, canada, mexico, of course, the eu responding angrily to the tariffs on steel and aluminium imports. the eu said it will launch a case to the w.t.o. against the u.s. mexico and canada -- >> they are lost. >> they know where they're targeting. it's not a coincidence. >> u.s. ranging to steel and orange juice and pork. krand began prime minist-- cana minister blasted the decision. >> these tariffs are an affront to the long standing security partnership between canada and the united states and in particular an affront to the thousands of canadians who have fought and died alongside their american brothers in arms. >> today a near term n

because at the end of the day, we have to understand that this is a key buffer state between us, the prc well, let's just hope that it all happens, the summit on june 12th. thank you, professor lee. >>> the number of unemployed americans is at its lowest level in almost 20 years. the labor department announced today that the economy added 223000 jobs in may. the unemployment rate fell to 3.8%. that's the lowest level since 2000. president trump tweeted that he was looking forward to seeing the numbers more than an hour before the labor department released them publicly. the president had been briefed on the report last night and many took sign that the numbers would be positive. the president's comments break decades of protocol, though, and seemed to violate a white house rule created by the reagan administration not to release details of a jobs report ahead of time. >> protocol is that the department of labor releases those numbers at 8:30. and generally there's no comment until about an hour we about those numbers. that's the bottom line. >> the stock market reacted to those job numbe

praised them except nice to see you.s he said hey, >> this is like the old days with the inese, the prc would doing out an old leader and say this is what we held the revolution against. s sin thinkia, i was trying to give account republicans slack. >> tell them buck up. >> thank you so much.mi u storm in a new lawsuit her old lawyer was a you. pet for president trump and his fixer michael cohen. the suit alleges the twos attorneys were in ca hoots. h allawyer, hatching a plan to have daniels denyn affair with trump on sean hannity's show. hmm and perhaps most damaging of all, trump was in on it. this is good stuff. if you likethat's ahead. plus, bill clinton ss his defensive interview aboutica lewinsky wasn't his finest hour. good for him. the roundtable will tackle that along with paul ryan who is finally showing some ckbone. i think. i dare say with cynthia still here. and scott pruitt who appears to be in yet more ethical trouble. something to doing with chicken filet. and singer and civil rights activist harry bellefonte joins us tonight as we remember bobby f. kennedy. bobby died

we called the post-primacy environment that it would be a principal pacing rival or competitor, the prc. if all roads lead back to the 2000, there had been halfhearted or incomplete a refocusing, what ever you want to call it. ineffective or less than effective orientations on the pacific. the key we are from the bush years and 2001, with the exception of the microsoft , the tbr was published on the 19th is -- of september, 2001. aboutbr was fundamentally the asia-pacific region. in the time we did the study, as a result of the queue er, that was the first reorientation. had the obama administration's rebalancing of the issue. again, as we looked at the problem, and i don't mean to grade your homework, ship, but seen as a necessarily complete rebalance as probably was necessary given the nature of the competitive environment. the current study we are working we are answering simple questions, what are the fundamentals for creating advantages in a new, more competitive environment? and what of those fundamentals? in thatcurrently stand region? i will get you -- give you five more insight

prc or over-the-counter approvals of the structures extending the building is not acceptable. project sponsors often misrepresent exactly what will be built on a permit application, or misrepresent what they say at a meeting to those in attendance. they won't be the same as what gets built. which is what it would indicate. most importantly, overhead, please. ok. tenants who live in these buildings where a pop out of one story or two stories as propos proposed, wouldn't necessarily have any notice of what is going on at the rear of the building they live in and could face displacement as a result of over-the-counter approval. >> good afternoon commissioners and president hillis. my name is carolyn kennedy. thank you for holding this hearing on the proposed process improvements and thank you for the modifications that you did make to the proposed plan. despite these modifications, our organization strongly opposes several elements of these proposed changes. specifically, that 2011 notice period and the permitting for the rear pop outs. regarding the notice period, 20 days is sim

there are still companies listed prc, that.they are not completely fake the way their predecessors risks.ave real fraud a number of them show fabricating profits, so if we look at that combined market cap , it is massive. >> frauds are not unique to china. point,there this bigger a bigger point about china's impact on the american capital market and the capitalist system come if you like and we want to extended a little bit more? >> sure. we should start looking at as western investors stocks,uities as sin where from a governance perspective it is something where allocator should be asking themselves whether it is something they should own. he goes beyond fraud. let's be clear. only one leg of the issues is actorsea that chinese can list companies in the u.s. that are frauds and do it with total impunity. that is one leg. another leg is that we are financing -- so, at the end of the day, and i would argue this is a fact, but at the into the day in china there is no such thing as a purely private private that the companies will

no it's the prc not trump. >> on nxp, because you mentioned it let me update people it's down another.5% the deal for $127.50 the reason jim mentions it, it was a key reflection of the ongoing dispute between our two countries. they're wait, qualcomm, for the approval to come through with the anti-trust regulatory authorities. toshiba's deal was done. they approved the transaction. china buyer of general. >> yes it's out there still the south china morning post last week reported it was done that is not a state organ, we should add i think it's owned by -- >> yeah. that's the problem why we got fuelled. >> that was not a good report, i guess. >> no. remedies are all done. they've gotten until july 25th they could extend even then. they want to. >> who is running nxp now? >> i don't know. i guess the management that was there as it goes on and on. >> i want people to watch these stocks i want people to watch netflix that push was real. >> netflix is up 1%. >> talk about foreign accelerating i'm looking at these things, if we looked at yesterday, if you remember, the market was down hor

i had to and iraq go and interact with the prc's with the projects and i have to admit that that was real and there is a stigma that we have to deal with. you are with the soldiers and they have guns but i don't have a uniform and i don't have a gun. i think that is something that we have to sort out. i wonder if we need to start with another thing that you mentioned, mary beth, the behind the scenes planning, making sure that when that war planning or engagement planning happens that there are the civilians folks that understand what the repercussions of those actions are going to be. so i will actually get to mary beth to see if you could elaborate on that point or any other points. >> i will elaborate -- the reconstruction team in iraq and afghanistan. they were deliberately designed by dod to have an ngo component. that was led by the state. with the idea being that whether it was a veterinarian that was needed in the community or a school or a well or a road. or just medical care. to the extent that the usaa id could have the program that took a little longer, they would by desi