let's crossed our china correspondent, selina wang, injury being with more -- in beijing, with more. this conflicts with what ambassador lighthizer had said earlier. selina: that is correct. he had said u.s. supply chains should not be brought back to china but the country should the intertwined and that decoupling of the economies is not an option. but, the president to did this -- perhaps i did not make my self clear. the u.s. does maintain a policy option under various conditions of a complete decoupling with china. tweet comes we learned china is still committed to honoring all of its commitments under the phase one to a deal. u.s. china talks have taken on an added political dimension. the new book out next week from from a national security adviser john bolton, he is claiming that trump in the past directly linked trade talks to his reelection, asking xi jinping during a 2019 meeting to purchase more american farm goods, saying that it would help his win in 2020. haidi: in the meantime, we are looking at china's top legislative body studying deliberations on the hong kong mesh -

let's move to selina wang. what new details do we know about this? lina: according to state suspended ang has draft to its top lawmaking body of the national people's congress, and deliberations are beginning with a three day session that started on thursday. the report gives little detail of the draft, but it clarifies the four major offenses. post has china morning reported that the draft law also states the central government reserve the right to exercise jurisdiction over cases in "very special circumstances," while hong kong authorities will be responsible for the remainder. that leaves it unclear as to whether or not this law would allow hong kong or's to be extradited -- hong kongers to be extradited to the mainland to stand trial. the paper also cited a source saying the law is unlikely to be passed during this meeting. reiteratedwhile, has that -- that's despite the barrage of criticism from democracy advocates, business groups, foreign governments, and most recently a very strong statement on the g7 --from the g7. shery: let's turn to the on

let's head to the capital and our china correspondent selina wang. how serious is it? selina: beijing has lifted its emergency response level to the second highest and said people will have to be tested for the virus before being allowed to leave the city. that on top of the decision to close schools signals the severity of the growing crisis and the stakes to contain the spread are very high in beijing. an aggressive lockdown would risk undoing much of the economic reopening in recent weeks. that explains why you are seeing official take a targeted approach compared to resurgence is in other regions -- resurgences in other regions of the country. ride-hailing apps have been banned from leaving the city. most forms of transportation to and from beijing still remain open. this is as the total number of infections surpasses 100. you are resurgences in other regions of the seeing the city roll out an aggressive testing and contact tracing plan. beijing says a contest over 90,000 people a day. test over 90,000 people a day. also a trading executive with a major supplier tol

let's bring in selina wang in beijing. this meeting between pompeo and his counterpart in china play out? selena: this meeting was held after months of talks. it reflects a willingness from both sides to stop it confront -- stop it from getting worse. they pledged cooperation. each country stuck to their position. china saying to push forward with the hong kong national security law. the beijing side claims that the meeting was constructive. china's top diplomat laid out china's position on hong kong, that theeiterating u.s. should stop interfering in its internal affairs. in a brief statement from the u.s. state department, those sensitive issues were not mentioned. pompeo stressed the need for reciprocal dealings between the two nations, highlighting the need for transparency and information staring to combat the pandemic and future outbreaks. pompeo also stated that china is still committed to honoring its commitments under the phase one trade deal. this seems to be the only active area of cooperation between the two co

let's get more on this story from selina wang in beijing.e context behind this. selina: the numbers were much better than expected, showing that china's economy is continuing to slowed showed toward recovery. the trade surplus reaching a record today. exports were bolstered by the increase of sales of medical supplies. you saw this thanks to lower commodity prices. according to the china custom bureau, this felt more than 20%. the outlook is murky, given the rising risk of u.s.-traded tensions re-ask elaine. told companies to pause purchases of u.s. farm goods. the u.s.e exports to falling 1% fall imports fell more than 13%. haslinda: what challenges does china have? challenge isiggest that it will shrink in 2020. thisue is expected to drop year. that will be the first decline in at least two decades. that will be compounded even more by the tax breaks to help these firms that have been hit by the coronavirus crisis. tax revenues are usually used for general spending. scales as ase land support for money for infrastructure projects. seeing p

that's cross to selina wang for more on this. know for sure yet that food can actually transmit the virus so why is china halting these important? china, so far, the customs authority says it will be seizing all products from this plant in arkansas where tyson is based. 13% oft have arrived -- its more than 3000 700 workers tested positive for covid at its facility in northwest arkansas. 95% of those who tested positive worrisome to medic. this move is now a potential -- from around the world. many of these plants have had to deal with disruptions as a result of the virus. hundreds of workers have become sick. dozens have died. there has been an uptick of infections in brazil and germany. if china continues to suspend shipments based on covid cases being reported, it can undermine agricultural purchases as part of the trade one phase deal with the u.s. which was already under pressure before this move from china. this mentioned earlier, decision is a complete 180 from just a few days ago when chinese officials said that food was

our chinese correspondent, selina wang, has the details from beijing. what did we learn over the weekend, more specific details about this legislation being discussed by the standing committee? selina: tom, we know that it is being discussed at this china'sy meeting with top legislative body and there could be a vote as early as tuesday morning. if that is the case, it comes in for the july 1 anniversary of the hong kong handover to china in 1997. local media have reported the proposed law includes a light sentence for acts as subversion answer session desperate life sentence for acts like includes a life sentence for acts like subversion and succession. the talk among activists is how that is going to be implied, how it will be defined. it will be broadly defined to broadly shut down dissent. we have yet to see the full text of the law, but to state media has announced it would allow beijing to set up a local intelligence bureau and take cases. of some sensitive pro-beijing officials and the hong kong leader have tried to assure people that people's leg

let's get more details from selina wang who has been following this for us. peter navarro saying he was talking more about sentiment, about trust between the two sides rather than mixing the phase one trade deal. get us up to speed. selina: we have been getting quite a bit of whiplash. it appears he said the trade phase deal is over. now the wall street journal is saying his comments -- is trying to make a point about trust. he was asked about progress on the phase one trade deal and that trump had been trying as hard as he can to hang onto the deal. the anchor asked given everything that has happened, is that over? he said it is over, yes, adding the turning point came february 15 when china came to sign the trade deal a full two months after the coronavirus was out and about. it is unclear exactly what peter navarro was referring to. his previous comments did seem as though that trade deal itself was over. peter navarro is a noted china hawk. he has been one of the sharpest voices in trump's ear. he has been urging a stiffer response toward beijing. we have

selina wang is in beijing. take us through what bob lighthizer had to say. >> we got some positive rhetoric about the trade deals. [indiscernible] bought $180 million of u.s. soybeans. this is after a call for companies to pause purchasing. beijing is evaluating ongoing tensions in hong kong. competing rhetoric. lighthizer said the pandemic will trade -- will change the as the trumpnship administration tries to reassure supply chains. said we need whatever it takes to never find ourselves in this position again. david: let's talk about hong kong. obviously part of the story. yesterday of all days hong kong passing the national anthem law. what is the context, and what did we end up seeing? >> the national anthem law has been controversial and prompted protests. it was first introduced in 2019. peoplehree years for convicted of insulting the chinese national anthem. lawvists have opposed the saying it is part of a broader pushback from china to curtail the dissent in hong kong and the national anthem law has bec

let's cross to selina wang in beijing. break down the inflation numbers out of china today. selina: what is clear from the numbers is that the recovery in china is not strong enough to produce inflation pressures. the big focus here is -- [inaudible] companies are losing pricing power and the manufacturing sector is still suffering from the impact of the pandemic. from aprilices, down and less than expected. [inaudible] prices have slowed, down significantly from the previous month. even as the chinese domestic economy is getting back on track , businesses are facing -- demand for their product. expect cpi and ppi to continue to fall. [inaudible] yvonne: reporting that chinese regulators are asking small and midsize banks to cut down on provisions for bad loans. more effort to extend credit to businesses. selina: the goal here, this is the latest move for businesses that have been hit by the pandemic. what we've learned is that china's top regulator is slashing the amount of money they have to keep on hand to cover losses from bad loans. this will further reduce requirements.

anna: that was the chinese carmaker ceo speaking to my colleague, selina wang, earlier today.er the u.s. politics story, newsworthy right now. donald trump is toughening his image as police brutality scoops cities. he portrays himself as an icon of law and order and turns the conversation away from his widely criticized hanley of the cordova -- handling of the corner verse outbreak. he still is joe biden in the states that he won in 2016. let's get into politics. matthew goodwin joins us now. professor goodwin, could to speak to you. -- good to speak to. i wonder if you ship if it to law and order -- if you should pivot to law and order. how well do you see that going for him in november? do you have examples from history to draw on? >> good morning, anna. he's certainly going to press the law on the button. he's also going to press the china button. a lot of data we have had since the virus erupted, we have seen how americans have become increasingly concerned about china as issue, and trip is going to target that. of thelook at the volume data, he has still got a way to go.

shery: our china correspondent, selina wang, in beijing.been one of the sectors most hit by the virus pandemic. jetblue is among carriers to announce new safety measures aimed at restoring the public confidence in air travel. the ceo told us what it will take to get passengers back in the sky. thehat we have learned is only thing certain is that there is a lot of uncertainty. you see things in the news media today, regarding increases in cases in other parts of the u.s. our focus has been on building confidence and flying again. we have seen small glimmers of hope in the leisure sector. jetblues is a large -- is a largely domestic carrier. we think it will be coming sooner than business travel. our business is ultimately going to evolve? -- how are businesses ultimately going to evolve? you will then have the freedom to start to change the reality. what is jetblue going to look like in that environment? >> we have been very lucky to be a recipient of cares act payroll dollars. it covers about 76% of payroll. after september 30, when the car

manus: selina wang joins us from beijing on this story. good to have you with us. and marie and i the significance of hsbc and standard charter backing the national security beal -- bill? selina: to put it into perspective, they are the first companies to back beijing. all major local businesses voicing support for the national security law. that's despite opposition to it. are and standard chartered in a uniquely dell of it best ellicott position. their headquarters are in london. the british government has expressed strong opposition to the new law and offered refuge to 3 million hong kong residents. take a look at hsbc. hong kong and china are vital. greater china accounts for 40% of revenue. forward, getting on the wrong side of the government appears to be out of the question for the new ceo. when you look at standard charter, it is let's exposed to hong kong versus hsbc. hong kong is still standard charter's biggest mark -- market. 61% came from hong kong. 14% from china. i want to clean out some of the harsh reactions that we for from british lawmakers. incl

let's get to selina wang in beijing.evelopments in asia, specifically china, which has put a county on lockdown again? china: over the weekend, put 400,000 residents of the northern hubei provinces and sheen county under lockdown after a dozen cases were reported, all associated with the banking outbreak. this shows that this surgeon's of cases in the capital is proving difficult to stamp out even though officials have said it is largely contained. it has been sealed off, evoking memories of the wuhan style lockdown and only one person can go out for daily necessities per household and vehicles cannot enter. only those with special passes can leave. it is about 140 kilometers from beijing, but the lockdown we are seeing there is far more severe than what we have seen in the capital here itself where the number of cases has grown to more than 300 since cases were first attempted in early june. here in beijing, schools are closed. transportation is limited, but people can leave beijing if they have a negative coronavirus t

sophie: chinese correspondent selina wang there. shery: we are joined by russell later for more. for now, let's get a check on the first word headlines. has said it will deploy troops to the border industrial complex. gains.00 futures paired tensions have shored after kim jong-un's increasingly powerful message said it was time and threatened the next move would be taken by the army. curbed police brutality amid widespread protests. he stressed sympathy for families of those killed by police but made clear he will not abandon his hard-line law and order stance. rising tensions between beijing and washington mean chinese -- chinese art ditching in fastest rate. -- chinese think is ditching the market in the fastest rate. a year of street protests and the coronavirus pandemic has sent unemployment in hong kong to rise to its highest level in 15 years. to mayrisen in the march the unappointed rate climbed to its highest in 17 years. global news, 24 hours a day on air, on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bl

let's get the latest from selina wang come out of beijing this morning. tell us, what more did mr. lighthizer have to say? werea: he said there significant purchases of real estate over the past few weeks, adding that on monday and tuesday of this week, china bought 185 million dollars worth of u.s. soybeans. that commentary is counter to our reporting actions that the chinese government has told state-run agricultural companies of u.s. farmases goods, including soybeans and pork. despite all of these tensions, we are getting some positive commentary from lighthizer. he also added that the pandemic will change the trading relationship between china and the u.s. as other countries in the u.s. tried to reassure its supply chain, particularly in the medical space. he says in a future crisis, u.s. needs to be able to manufacture at home all the things we need. he says, quote, we need subsidies, tariffs, whatever it takes. we need a policy where we never find ourselves in this position again. in the meantime, on the same day as the tenement square massacre anniversary, we an onhis b dis

our chinato correspondent, selina wang. what else is the who saying?he transmission of covid by people not showing symptoms is very rare. contradictsding earlier research that suggested spreaders could play a significant role in transmission. the new england journal of medicine warned that transmission by seemingly healthy people is -- pandemic control. a journal published the first peer-reviewed analysis of the impact of public health measures and it suggests the toll of coronavirus would've been vastly worse without lockdowns and other public health measures. they say they prevented about ,alf a billion covid infections including in china and the u.s.. they say lockdowns have the clearest benefits and travel are less-- but impacts clear in the u.s. haidi: what about the latest developments when it comes to the second or third wave of outbreak we have seen in japan and the latest lifting of restrictions in new zealand? the government is aiming regulate a system to the nighttime entertainment district. infections in tokyo were coming from nighttime ent

selina wang in beijing. apple's developers conference kicks off later monday as it prepares to shift to its own chips and away from intel. what else may be in store, coming up. this is bloomberg. ♪ ♪ is daybreak asia, these are the first word headlines. the international monetary fund has further downgraded its view of the world economy after predicting the deepest recession in 100 years. they warned that the new revision may be more pessimistic than april, when they saw a global contraction of at least 3%. -- some countries may have has the words of the coronavirus. president trump campaign rally failed to mobilize his base. news outlets say that just over 6000 people turned out on saturday, filling less than one third of the center, far fewer than trump aides had set for tickets. the campaign blamed radical protesters for blocking entrances, but officials said the demonstrators had little impact. meanwhile, president trump is letting to restrict employment visas that could affect up to a quarter of a milli

sophie: thank you, selina wang in beijing.terminal right now, regarding jd.com listing in hong kong. the share sale is said to be oversubscribed by multiple times, including the insta 10 -- institutional tranche. there on jd.com listing in hong kong. let's get a check on the business flash headlines. atong kong stock offering 123 hong kong dollars per share, which could raise 2.7 u.s. dollars -- 2.7 billion u.s. dollars. they have a main the sting in the u.s. and makes a hong kong tensions.ng rising beop drugmaker is said to interested in a merger with american rival gilead. sources tell us this would be the biggest health care deal in history. over $100worth just billion. we are told gilead is not interested in a sale or merger. up next, gold prices at their best in years. can they force compliance? this is bloomberg. ♪ save hundreds on your wireless bill without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to

selina wang is in the capital with the latest.ng to enact -- navigate this challenge? reporter: this certainly is a major challenge to his credibility as he navigates not and the coronavirus economic pressures at home as well as geopolitical tensions between the u.s. and the risky spat with india. at the same time, china's propaganda has touted the success, painting its response is better than other countries. handlesnges on how he this. china has tried to minimize disruption and so far has .voided citywide lockdowns officials are relying on aggressive contact tracing, identifying people who had contact with the market with outbreaks. they tested 360 6000 people since june 2 thing -- 13th. haslinda: china correspondent selena wang in beijing. all of these coming on the back of discussions within the u.s. and china. to recap headlines from hawaii where u.s. secretary of state mike pompeo mate -- met his chinese counterpart. he talked about american feelings on commercial, security and diplomatic operations, stressing full transpare

let's cross over to selina wang in beijing for more.econd wave is really materializing. where are we seeing these new hotspots? even though america's case count has been slowly rising, there is a concern around these local surges. we are seeing rising covid cases in 22 states. texas, on wednesday, reported 500 new cases. that's the highest one-day total. newida reported about 8500 cases. that's the most of any seven-day period. california is seeing hospitalizations at their highest since may 13. arizona has spiked in the past two weeks. so, that being said, the correlation between states reopening and a surging cases has been uneven. in some states, including georgia, there has not been an increase in cases as the state has relaxed restrictions. variations. what is clear is that the pandemic is far from over and increasing in testing in many states are not keeping up with the pace of growth in these cases. i just want to point out anthony fauci has called the pandemic's worst nightmare, saying this infection will not burn itself out wit

let's cross to selina wang. let's start with a bill. broad bipartisan support in congress and then was assigned by the president. what exactly does it say? selina: this legislation won broad bipartisan support. sanctiones trump to repression from minority groups. it also calls for the closure of the camps where they are held. beijing threatened retaliation in response to this bill. in the past, many times. citing this bill marks a major shift for trump as he has been reluctant to act against china over human rights issues. nancy pelosi has called the legislation sending a clear message to the government of china that the u.s. is well aware of the abuse uyghurs have suffered. upwards of one million uyghurs have been detained in china and while china says it is fighting religious extremism through voluntary education centers, human rights groups have had physical, psychological abuse in the camps which they described more as prisons. yet this signing of the bill comes on the same day that an excerpt of bolton's book that trump told xi that

let's go to selina wang in beijing.ng given that no one has seen the text of the legislation. what does the removal of the special trading status mean for hong kong? further undermines hong kong status as an international business capital by suspending export license exceptions this would restrict hong kong-based companies from sourcing sensitive projects which would remove one of the advantages of the business location over china. has been treated differently by u.s. law when it comes to financial transactions and trade so tariffs the u.s. places like china are not placed on hong kong and we are starting to see the u.s. role back some of the benefits. wilbur ross said with the in's position of the law, it increases the risk sensitive technologies could be handed over to the chinese government. surpriseot come as a us the trump administration has signaled it would take the step but is controversial given that it damages the economies on both sides and senior officials have told us this is part of many steps in terms of