does china now own professor richard wolf joins us to analyze the potential super power shift underway across the atlantic all of that directly ahead but first we have some headlines let's go. abutting bidding war in the energy sector leads our global report today as occidental petroleum makes an offer for anadarko who had already been wooed by chevron anadarko petroleum was already in fairly advanced talks with chevron for a sale at thirty three billion dollars occidental has now up that price to roughly thirty eight billion dollars at seventy six dollars per share eleven dollars above chevron's bid the broken engagement between anadarko and chevron would include a one billion dollar fee interestingly a spokesperson for occidental expressed frustration that anadarko had not informed occidental of that provision the prize in the fight is a company with extensive global holdings including key asses in the much discussed her museum basin in west texas a primary site of the oil shale boom shares of anadarko were up more than twelve percent on the news while the stocks of the two other cor

wide project joining us to break it all down is richard wolfe professor of economics m.r.s. at the university of massachusetts amherst and the author of democracy at work a cure for capitalism. welcome. thank you glad to be here so relatively speaking the total amount of chinese investments in egypt is still small compared to that of the u.s. and canada is this concern valid. no i think this is a normal part of economic growth it shouldn't alarm anybody unless you're alarmed by the process of change which may be what's going on china is now the second most important economy in the world it's a world economy closer integrated across the world than ever before it's therefore inevitable it's built in that the chinese will develop interests for exporting their goods for importing their necessary inputs and they're going to want to make investments around the world that are consistent with what they're trying to do inside their own country since they've developed country based on the interactions buying and selling and so on with the rest of the world they would have increased as

china trade war reached its third act richard wolfe professor of economics at america as the university of massachusetts amherst is standing by to sift through what it means for shipping and us market. plus there are some major mix ups in the markets today and we'll see you back around to check in on where looks like the stock has slammed on the brakes as a measure of the adam mesh trading group gets behind the wheel and drives us through the numbers. and finally drags it is bearing down on british business and business leaders are sounding the alarm hillary for which of the british american business association joins us to break it all down all of that directly ahead but first some headlines. the latest round of u.s. trying to trade talk leads are global report today as negotiators sit down here in washington early global market activity seems to be on the upswing this morning on optimistic progress reports including markets stateside the trump and ministrations director of national economic council larry kudlow said this morning the issue of qual way and the charges against the chines

time across the atlantic to help us find our way through the trade housel will we now bring in richard wolfe professor of economics of america at the university of massachusetts amherst and the author of democracy at work professor great to have you thank you good to be so let's start with china u.s. trade deficit felt an eight month low in february as imports from china plunged the twenty point two percent drop in employees from china was the main driver in the three point four improvement in the u.s. trade deficit and then exports in the u. .

allegations may have more to do with politics and trade and security concerns economist richard wolfe says the americans are being hypocritical. every country in the world that uses high tech telecommunications is using the american version of those if you we can't trust which we really can't then the biggest country that runs the risk of others saying we're not going to use your equipment because we can't trust the that's the most dangerous thing for the united states will the chinese try to use their equipment for something other than what it's designed to do probably will you have to defend against that yes our country is doing that europeans yes but they've been doing that to defend against american companies that have a much bigger role in the world and so the hypocrisy here has to help you understand it's fear or it's not serious. reports say saudi arabia has almost completed its first nuclear reactor which code could go into operation within a year more on that story after this break. what politicians do something. they put themselves on the line to get accepted or rejected. so

concerns may have more to do with politics and trade and actual security fears economist richard wolfe says the u.s. approach is hypocritical. every country in the world that uses high tech telecommunications is using the american version of those if you we. trust which we really can't then the biggest country that runs the risk of others saying we're not going to use your equipment because we can't trust it that's the most dangerous thing for the united states will the chinese try to use their equipment for something other than what it's designed to do probably will you have to defend against that yes our country is doing that europeans yes but they've been doing that to defend against american companies that have a much bigger role in the world and so the hypocrisy here has to help you understand it's fear or it's not serious. an elderly elephant has escaped death row in south africa that's after a court threw out a decision to have him killed after locals complained he damaged their property. that. the state that. we shot this land with these magnificent giants it should be up to me

well economics professor richard wolfe told us that the u.s. uses allegations against weiwei are all about corporate interests. every country in the world that uses high tech telecommunications is using the american version of those if you we can't trust which we really can't then the biggest country that runs the risk of others saying we're not going to use your equipment because we can't trust it that's the most dangerous thing for the united states will the chinese try to use their equipment you have to defend against that yes our country is doing that europeans yes but they've been doing that to defend against american companies that have a much bigger role in the world and so the hypocrisy here has to help you understand it's theater it's not serious. the boss of us plane giant boeing has apologized after admitting a system failure contributed to two recent to crashes involving the company's new seven thirty seven max eight model the two disasters happened within six months of each other together claiming three hundred forty six lives. wit

rigid get out there on appreciate it tonic columnist and author richard wolfe is my guest thank you. the number of people killed in flash floods in the southwest of iran has risen to sixty two deli's restart a team weeks ago swept away for structure local aid organizations say the sanctions are preventing vital help from getting three. through the helicopters we try to move people from the. area the safe areas actually be set up at camps and we distribute the tents for the four temporarily sheltering of the people and as well as distribution of relief items well actually it is a living basically attempts were affected if they run their course and they have their partner at one hundred ninety one national society that our partner and somehow we receive some candle answers from them and in some cases like jemera wells we are going to receive relief bullets from generous brass and talking about christian talk to us and send relief i danced and that we have such really fight we have not received any one any any in in our accounts you to the sanctions against and so there are a lot of peo

does china now own professor richard wolf joins us to analyze the potential super power shift underway across the atlantic all of that directly ahead but first we have some headlines let's go. abutting bidding war and the energy sector leads our global report today as occidental petroleum makes an offer for anadarko who had already been wooed by chevron anadarko petroleum was already in fairly advanced talks with chevron for a sale at thirty three billion dollars occidental has now up that price to roughly thirty eight billion dollars at seventy six dollars per share eleven dollars above chevron's bid the broken engagement between anadarko and chevron would include a one billion dollar fee interestingly a spokesperson for occidental expressed frustration that anadarko had not informed occidental of that provision the prize in the fight is a company with extensive global holdings including key asses in the much discussed her museum basin in west texas a primary site of the oil shale boom shares of anadarko were up more than twelve percent on the news while the stocks of the two other co

does china now own professor richard wolf joins us to analyze the potential superpower under way across the atlantic all of that directly ahead but first we have some headlines let's go. a budding bidding war in the energy sector leads our global report today as occidental petroleum makes an offer of four and a darko who had already been wooed by chevron and a darko petroleum was already in fairly advanced talks with chevron for a sale at thirty three billion dollars occidental has now up that price to roughly thirty eight billion dollars at seventy six dollars per share a love in dollars above chevron's bid the broken engagement between anadarko and chevron would include a one billion dollars fee.

our new york studio to help give us an outlook on what could be the dust of this trade war is richard wolfe professor of economics m.r.s. at the university of massachusetts amherst richard thank you so much for joining us glad to be here kristie such a negotiations between u.s. and china are due to restart today in washington and negotiators from the two of the world's largest economies are aiming to resolve the dispute over technology among other issues both sides claim that they're making good progress towards a deal but how close are they remain unclear the markets are already reacting positively and pricing in a resolution but is this premature. i think so i think being jerked around by this whole process and ultimately that's being jerked around by mr trump since he started the whole business with tariffs this is a kind of a play a see a there it has much more to do with politics than with economics whatever their agreement is it won't change much so it's the uncertainty that's the biggest factor here and keeping the uncertainty going keeps the attention on mr trump and the theater he'

time across the atlantic to help us find our way through the trade housel will we now bring in richard wolfe professor of economics of america at the university of massachusetts amherst and the author of democracy at work professor great to have you thank you good to be here so let's start with china u.s. trade deficit felt an eight month low in february as imports from china plunged the twenty point two percent drop in imports from china was the main driver in the three point four improvement in the u.s. trade deficit and then exports in the u.s. may be on track to add to the first quarter g.d.p. the trends that ministrations now pointing to this as evidence that the president's america first agenda is starting to bear fruit is this temporary or how do you see this being played out. we don't know yet for the trumpet ministration to make such a claim in the case that they like to play with the numbers it's not serious economics the truth of the matter is that these trade wars have been damaging to the chinese and they have been damaging to the united states both the testimony however of the

>> reporter: now, wolf, this is something that richard neal has been trying to consider very closely. in part because this is a chairman who wants to work with the trump administration on other issues like infrastructure. he has brought a lot of attention to his relationships with the trump administration and i just want to read from a statement from richard neal. he said, quote, i take the authority to make this request very seriously and i approach it with the utmost care and respect, this request is about policy not politics. my preparations were made on my own track and time line entirely independent of other activities in congress and the administration. but obviously a gigantic step tonight, wolf, from the house ways and means chairman richard neal. >> very dramatic step indeed. very important as well. great reporting, lauren fox up on capitol hill. thank you very, very much. let's get more on the breaking story. our white house correspondent abb abby philip is joining us. what's your sense of how the president will react? >> reporter: this is a major development on an issue tha

richard neal, he's demanded that these documents be made available to the committee. it appears he has been stonewalled. how do we expect he will respond to this? >> well, wolfis battle will only intensify even more now that this deadline has been missed. it is very possible that we'll see richard neal, the chairman of the house ways and means committee, move very quickly, likely to issue a subpoena to get what he wants. and he wants six years of president trump's business and personal tax returns. but neal has, of course, throughout this process, been essentially very, very deliberate every step of the way. and we expect him to keep that up. most likely, what will play out, we will wait to see a formal response either from the treasury department or the irs, potentially move to issue one more last-ditch effort attempt, potentially even giving them a few more days to comply with that request. but there is absolutely no expectation that that will change anything at all and push the white house to comply in very -- in any way. very likely, this will just set up a subpoena battle, and then set up a very long and protracted legal battle. wolf? >> sunlen, the spe

richard blumenthal of connecticut. he's a key member of the judiciary committee. senator, thanks so much for joining us. >> thank you, wolf. thanks for having me >> all right. so the justice department calls the house judiciary chairman, jerry nadler's subpoena for the unredacted report premature and unnecessary. why have democrats decided to move forward with this subpoena to reject the opportunity to see more of the mueller report, because the justice department, the attorney general is saying, they could basically see everything, at least some limited members of the house and senate, with the exception of grand jury material. >> well, that's exactly the poi point, the number of members of congress would be extremely limited to literally a handful, and the conditions of that viewing would exclude grand jury material and perhaps other material that's redacted. if you read this report, you see page by page, key details that are scrubbed, sanitized, edited out. it's like a road map that detours the traveler into the woods. and that's exactly what william barr has done from the very start of release of this report, holding