welcome to shenzhen. manifestation of china's economic miracle. angus bennett reports. >> this is the chinese mega-city of shenzhen, a monument to china's economic miracle. in 1980, it was a town with around 60,000 residents. now it is china's technological hub with a population of over 12 million. entrepreneurs, highflying tech graduates, and international companies flock here to join the tech revolution. welcome to shenzhen. shenzhen sits north of hong kong in river delta, one of the most densely urbanized regions in the world. the area has an estimated 120 million people population. in 1980, shenzhen dedicated a free economic zone and experimented on capitalism in communist china. the effects were explosive. the population skyrocketed in over 30 years. the city has a massive migrant workforce. over 4 million residents stay during the week and return home on the weekend. it is tech hardware that put the city on the map. if silicon valley drains it up, this is where it is made. this is the market. arguab

the scientist, from the university of shenzhen, says he has sucessfully altered the dna of twin girls. the chinese government has ordered an immediate investigation into the claims. we have a story for you now about one very lucky cow. this is knickers from western australia. like many cows from there, he was destined for the abbatoir, but when his owner tried to sell him at auction the meat processors said they couldn't take him as he'sjust too big. those capitals around him are not small, it isjust those capitals around him are not small, it is just gigantic. those capitals around him are not small, it isjust gigantic. 1.4 tons, which is the weight of a small car. he stands two metres tall orjust over six—foot—four inches. that is how big that cow is. we had a debate... who is that? seriously, talking about the people getting in the way, you might as well come in now acts may —— the way, you might as well come in now acts may “ come the way, you might as well come in now acts may —— come in now! can you stand? now acts may —— come in now! can you stand ? the now acts may —— come in

is going to be the big conflict coming up billionaires from asia and especially in china city of shenzhen are now challenging the u.s. is traditional dominance in technology entrepreneurial ism in twenty seventeen they equaled america's level of venture capital funding for startups registered four times as many artificial intelligence related patents and three times as many blocks chain and crypto related patents as their u.s. counterparts the shift in to china is new world power and the collapse of the us empire will be underwritten by the emergence of artificial intelligence that's being financed and funded in china and china will figure out a way to manipulate america using ai artificial intelligence and all these means that are said to be manipulating the election comes in the us their origin will be mostly coming from china as china really moves in leading up to twenty twenty attempts soft coup using means in formation warfare and that's going to be the battle in two thousand and twenty it's going to be chinese means versus trump u.b.s. itself points out that part of the reason why c

financial times reports similar cycles of unrest and repression are underway in beijing shanghai and shenzhen while apparently isolated the student labor solidarity is notable development in china's. capitalistic tator ship which is of course overseen by the communist party. a bevy of big banks are bailing from london to the european continent due to the u.k. leaving the e.u. breck's it is already having a big bad negative impact some of the names on the move include bank of america h.s.b.c. that europe's biggest bank germany's deutsche of big d. b. plus credit suisse and france's credit agricole b.m.p. pair of best and society general even australia's largest bank by assets commonwealth bank has levy as are other australian lenders like westpac and a z some lenders are moving to paris some to amsterdam and some to germany's financial center a frankfurt that's where swiss multinational bank u.b.s. is headed and to. and to help us out on brics that and the big loss for london we're pleased to once again be joined by the c.e.o. of straw mark henry ford which welcome hilary thank you good to be

appears to have and illegal potentially there appeared to be some issues where his university in shenzhene may have been some signatures forged on permission documents for the university's ethical committee. i think we are going to see this continue to play out in terms of the consequences. china has a booming biotechnology industry. it is very interested in being at the forefront of some of these technologies, like gene editing, like new therapies in cancer and a lot of very exciting stuff. it wants to show it is a legitimate industry. parts of china biomedical research in the past have been seen as a little bit of a wild, wild west. this is an opportunity for the government there to make clear to the world how it stands about certain research ethics, what is permissible and what is not. i have a feeling that this researcher is going to mark a pivotal point in the history of how the chinese regulators and government approach the industry. emily: there are three different public companies working on crispr right now. there are folks like you, jiwoo, who are continuing to do research on th

he's come a long way from the kid who couldn't afford any of his own.matt rivers, cnn, shenzhen.s) cal (jrs) the government has released a new climate report saying our economy and health could be at risk. we'll show you president trumps reaction. (jrs)(jrs) the cost of climate change in this country alone could reach hundreds of billions of dollars according to a new u-s government report. the white house released the federally mandated study friday. it says climate change could devastate our economy and worsen people's health. andy rose reports. a dire warning from the u-s global change research program....derek van dam/ meteorologist: this analysis written by over three hundred scientists is going to only contribute to the overwhelming evidence that global warming is happening, it is human caused.the report... released by the white house... directly contradicts the president's own words. reporter: does seeing the devastation change your mind about climate change?president trump: no. i have a strong opinion. i want great climate. we're gonna have that. and we're gonna have fore

the shanghai, the shenzhen and the hang seng off about 2% we should point out you are looking at the auto sector there, significant losses for nissan, mitsubishi after the arrest of carlos cohn. the autos were off 1%. the big story is all about tech. let's show you what the impact actually looks like in asia. we are looking at some apple suppliers here they've been rattled by reports on the iphone production keep in mind with apple going into bare market territory nvidia gips is nuidance is not y favor for the chip sectors we got a report that chinese authorities are now looking at anti-competitive practices on pricing from top chipmakers as well they have named samsung electronics and sk hynix sk hynix off more than 3%. we did see selling across the board in the region here >> nancy, thank you very much. >>> renault shares are tumbling after bruno lemaire said the arrest of carlos ghosn in tokyo weakened the automaker japanese prosecutors arrested the head of the nissan/mitsubishi alliance after serious mifinancial misconduct a whistle-blower report prompted a detailed investigation

china's domestic market continues to get punched it's down 2% and the shenzhen, the nasdaq of china,s europe is also lower across the board. the majority of those markets in the red today as well. here's the global commodity and currency markets oil, simply too much oil out there. we have that opec meeting coming up on december 6th a lot of opec, a lot of oil, and crude oil is down today to 57. and bitcoin is down big again. let's get a specific check on the f.a.n.g. stocks. this was -- was the market leadership certainly not anymore. if you put them in a basket, the f.a.n.g. stocks as a group, those five names, they are down 21% this quarter 13% in a month need market leadership let's bring in patrick palfrey from credit suisse as we referred to earlier, those were the linemen, if you will, of the market. those five stocks. they're on the sideline injured right now. it's hard to run the ball when you don't have anybody big up front blocking will we see a rotation in market leadership or do you think those names can make a comeback? >> to your point leadership has been disrupted we b

and then at the same time in the district of shenzhen, just north of hong kong, we are building fromatch about a 1.2 million square-foot facility that will be home to 3,200 students there in shenzhen. these campuses, they serve children from age 3 to 18. they are all bilingual immersion campuses. in most cities they will be chinese/english immersion schools so children will be going to school in two languages. they will accept day students. they're obviously in the hometowns if they are. weekly boarders in washington. someone in richmond or someone in baltimore may arrive on monday and go back home to their parents on friday. and then full boarders. so these are schools that have 500 to 1,000 dormitory rooms within the schools, themselves. and then on the bottom row, parents -- modern parenting requires being a good driver so that you can find your way to music lessons, to tutoring, to special sports. and all of those things, which we call studios, we house under one roof that are available not only to our students but also to students within the community. and quickly and to close,

our educating child is we get muslim it's all extrajudicial detention of that scale we report from shenzhen province also wildlife experts really troubling side of a cute baby bed video that's been viewed more than twenty million times and formula one extends its calendar to include at least from brain had only all those details in sports. out of the storm this is over for now i think you'll see the last back edge storms running through the eastern seaboard nothing much left of course this satellite pictures taken before the real storms got going to hit maybe that in texas right to home once you might still build but i think probably not this is still the risk area for a big storms with lots of rain forming out there but look at what's developing in colorado in fact the plain states have dropped in temperature down to minus one and when you have to see the daytime highs there's a big push of winter air coming in here about time to get to friday it's reached always size that's the ohio valley more or less the max in chicago three degrees snow you'll notice and this is not just going to be a

he's come a long way from the kid who couldn't afford any of his own.matt rivers, cnn, shenzhen.sitting at imagine you (vicki)(vicki) (vicki) imagine you are sitting at home for thanksgiving dinner and then bam a car comes crashing through your home. it happened to one family and it was caught on camera. we explain how it all happened in just two and a half minutes. their "dolce returning (vicki) one of the world's biggest fashion brands is facing a backlash as retailers in china are dropping "dolce and gabbana" -- over claims of racism. a series of d&g ads showed an asian actress trying to eat italian food with chopsticks. the situation was made worse when offensive comments were posted from stefano gabbana's instagram account. he says the account was hacked and the designers have now apologized. customers in china have even been reported returning their "dolce and gabbana" items. (vicki) a family in louisiana got quite the wake up call on thanksgiving when a stolen car crashed into and destroyed their carport. kiran chaw-la has the story. it was just before 10 in ascension pari

our market coverage continues as we look ahead to the start of trade in hong kong, shanghai, and shenzhenomberg markets coming up next. this is bloomberg. ♪ kong.d: 9:00 a.m. in hong welcome to "bloomberg markets: china open." yvonne: renewed trade optimism. david: president trump lifting the mood, kong. saying things are moving ahead nicely with china. rishaad: washington under pressure. chinese companies accused of stealing chip secrets from macron. m

>> when you travel between beijing, shanghai, and shenzhen, there doesn't feel like there is a disasteror china's economy. it is a diverse economy. when you talk to small and medium-sized enterprises, they do talk in concerned tones about the lack of credit and the ability to grow their businesses. it's not just small enterprises, you have seen companies like jd suffering with shares down 50% to date because the retail sector is becoming more bearish. or property prices are starting to play a factor. small and medium-sized enterprises are feeling the pain. ae academic off the record few weeks ago said we are in a crisis. it depends on the geography, where you are in china. you are talking about the increase coverage of these brokerages. opening of the financial sector come if we get more foreign firms covering the shares, does that make it more difficult for chinese policymakers to strong arm, browbeat, and bully over research or whether these firms will bend to the pressure from policymakers? , the attractions of the chinese market are so huge that there has started been a lot of endin

continues asverage we look ahead to the start of trade in hong kong, shanghai, and shenzhen. ♪ en. ♪ng and shanghai. >> a strong start for asia-pacific markets as the u.s. midterms offer some comfort. >> president trump calls for a new era of cooperation. >> chinese brokerages bolster their cash against a potential rout.

stock, the shenzhen has really taken it on the turn -- on the chin. the u.s.or not holding back on their hard stance on china when it came to trade. he was saying, wall street, back off. did notidterm election give them an incentive to back off. in a lot of ways, a vote of confidence here. we will be watching these tech plays in hong kong. apple related shares on the backup. the positive story, singles' day. force really seems strong when it comes to the consumer story. alibaba raking in $31 billion. a massive understatement to what happened there. the numbers seem to indicate sentiment does remain robust despite escalating trade tensions. tom mackenzie has the story live this morning out of shanghai. justthis monster has really evolved since its inception 10 years ago. >> it really has. this is why -- this is like black friday and cyber monday on steroids. --pare that to $24.2 million $24.2 billion from the end of 2016. 180,000 brands. over $1 billion worth of sales within the first two minutes. some of the top winners include apple, but also xiaomi, which sa

in shenzhen and the rest of the mainland china. tariffs coming through, we also have equity futures on the way up in the u.s.. also, key data on the chinese economy coming out. muted ati in japan was this time, despite the mix when it came to the latest of growth estimates. elsewhere, it is about oil prices, plummeting the most in about seven years in one day alone. looking at that, it does make itself felt when it comes to energy-related companies. chinook.s such as also looking at currencies, the sterling come other brexit deal is nearing and that is giving optimism for the pound bulls, as it were. there you have it. at the we are looking losses at the open in the shanghai composite, about a third of 1%. it shares also heading down, losing is activity. moment.uch flat at the the key thing to watch will be the data from china in the last half hour or so. sales, fixed asset investment in after the poor credit day we got -- credit data we got overnight, it seems that we need something to boost sentiment over all, but also it can be

so far, china had another spill overnight, shenzhen fol falling more than 3% markets have been sufferingthe consumer here's how he characterizes it >> i think it is a very favorable consumer spending environment. record low unemployment. i think consumer confidence remains quite high clearly, the customer is out there shopping and i think that we're going up against a positive comp in the fourth quarter of last year as many of my competitors are as well i think everybody is ready for that >> everybody is optimistic about the consumer, kevin, and expecting the best holiday sales in years and yet, retail has been in a pretty rough ride over the past few weeks. do you have any pickles in the sect contractor? >> well, first of all, i'll go as a consumer first. i got my own look-see over 37 companies that own their own websites, smaller sales, average size a company 26 employees had our best quarter ever in q3, are in the middle of our better than best quarter now so i'm not you'll that worried about the consumer domestically. i think there are cross currents in real estate i am a nordstrom f

shenzhen as well, down .7%. more to come on bloomberg markets: asia.his is bloomberg. ♪ david: here is the latest business flash headlines. trainunaway iron ore traveling up to 100 kilometers without a driver. it has now halted all train operations in the region and is working with local authorities to find out what happened. dhp said the driver had stopped to investigate a problem when the train took off. -- new so-called whisper jet was launched with great fanfare, but local residents say it is annoyingly loud. swissair promised people that the eight to 20 would be 50% quieter than older planes. critics say the twin engines emit a strange howl as it comes to land and the airport's noise hotline has been swamped with complaints. david: -- a $750 million leverage loan, led by bank of america rather than goldman sachs. the parties have scheduled a november 7 presentation for potential investors, although many details remain unclear. goldman was leading talks on a smaller $.5 billion financing in the week of october 22. yvonne: let's talk through some ea