he needs the massive building projects on china's new silk road to boost demand for diggers and keep yet. so no real difference to the bottom line yet? thanks to the one belt 0ne road initiative i think the customers, they really have the need for the machines, but not yet. belt and road is the official name for china's new silk road. it's got an official name because it's a government project. state construction companies, state banks — not private traders or investors. critics say this could be digging the world into a big hole. this is a plan by the state agencies, and it's going to be implemented by state agencies, so my worry is that it's going to end up with a huge amount of bad loans. with dozens of countries involved, it could be very very dangerous. where some see risks, others see opportunities. china has a growing appetite for milk from where the grass is greener. wieslaw inherited this land from his father, and he'll pass it on to his son. they want to expand the farm and the business. he says china could be part of their future. translation: china is a very big and inter

he said we're going to build the old silk road. 65 nations signed up, 100 state leaders there. be more than the 65, but they are going to bring about $200 billion in financing to build this. he said, you know, the silk road in ancient times has brought peace and trade and all that good stuff, so why not build it again? well, if you take this one step further, think about it. 65 to 100 nations in the western world don't know how to deal with global trade and things like that, what fair trade is all about. they are going to be, this one belt, one road, it might as well be the new wto. francine: it is such a big economy. they are trying to move a supertanker, right? are we going to see a bump as china tries to become a more consumption led economy? joe: i think china is not exactly a democratic state under western standards in a way so the government is very clear to direct it and very outgoing. there is very little multiple opinions about what could be done or what should be done and things like that. they are very effective in what they do. francine: so they have a good handle o

just finished the silk roads by peter frank, a new history of the world from the central asian point of view in terms of the importance it once played and is again playing in terms of development of natural resources and the religion of silk roads china has undertaken. fascinating history. the war of the roses is the history of the house of york and the house of lancaster in the tudor dynasty in great britain. we think of the tudor dynasty is long-lasting but it wasn't. it began with henry vii and ended do with queen elizabeth numb i. it is something that left an indelible mark on modern britain. two books i am reading today, when is a history of the habsburg empire. the pros is rather turgid. the history is fascinating but it is tough getting through. i will get through it but i wish it were a more interesting narrative style. we misunderstand it, we think of it as backward but there is nothing more vibrant and lively than that and led to a lot of interesting democratic institutions in part of the empire. the empire disintegrated after world war i and a fascinating novel, irish nove

sharyl: the silk road refers to a plan china called "one belt, one road," the country's vast investmentshipping and transport to develop both a trade route and markets reaching from malaysia to europe. china seems to really be emerging as the global leader in many ways. there's a recent meeting attended by the philippines, ss argentina, many of them are getting billions in infrastructure investment from china. what does this say to you? prof. morici: well, the chinese have effectively used the money they have earned on trade to do two things, one is to build up their next level of industries, they are moving what into what they call indigenous technologies, namely going after our high tech sector. they're not just going to assemble our cell phones anymore, they are going to design the next generation of consumer products and sell them here. then where is microsoft? and they are turning it into a great foreign policy initiative. eurasia really does need a modernization of its east-west infrastructure, building better ports, air facilities, railroads, and so forth. and china is in positio

foreign policy there and the new silk road of illegal drugs lowering what about war torn countries prevalent poppy fields let's take a listen to that discussion. that they ask of i think it's much for joining me today i want to start by actually discussing trump's recent speech he's now basically made a u. turn for most people from what they expected of him and his foreign policy outlook before he was elected now he's calling for more troops he wants to basically do a search in afghanistan as well as basically pushing a more belligerent tone across the globe let's start with afghanistan what is the economic interests of america in afghanistan to basically put four thousand more soldiers there. looks like if it's groundhog day isn't it we haven't seen the thing all over and over again if anyone who's been to afghanistan or reported for afghanistan knows that there is no military solution ever in afghanistan we had at least two or three different surges and the latest one was an absolute disaster the taliban they control at least sixty percent of the country if you get out of the main cities i

perhaps a coin that will work all across the new silk road and compete with the u.s. dollar the u.s. dollar is weak you have demand for oil is weak and surprises of lithium carbonate the primary base chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation no longer have the i'm unless you're bipolar and short well we got to take a break and we're back. for this. was you know my point i wanted to. ask but i. owe. your so you know i lost his boss because. we saw. any of those in person but that's almost. showing us you know part of his you're not. you know just i mean most people have spent the better of me just a lot of the media. i mean the lord. has been up as well i must say i mean i really feel that you

perhaps a coin that will work all across the new silk road and compete with the u.s. dollar the u.s. dollar is weak u.s. demand for oil is weak and it's a prices of lithium carbonate the primary based chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation you know long live him and us are bi-polar that short well we've got to take a break and we're back. to protect him he said. up and up and basically. in the. house he will be looking to see if. you were talking to. i'm not allowed. to meet him it's already. been a lot of any of us to come out of a skid but i'm a look at him as are a lot of us up the money into. oh give me money i love my money. just say so and i'll. go so who do are some of the fallout of

perhaps a coin that will work all across the new silk road and compete with the u.s. dollar the u.s. dollar is weak you have demand for oil is weak and it's a prices of lithium carbonate the primary base chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation no longer have the i'm unless you're bipolar and short well we got to take a break and we're back. here's what people have been saying about redacted in the sixty's. the only show i go out of my way to. really packed a punch. is the john oliver of party americans do the same we are apparently better than. the c. people you've never heard of love to the next president of the world bank. seriously send us an email if you're not going to want to. ask but

with journalist and author professor barbara discussed the new silk road in afghanistan and the u.s. foreign policy that cultivates that state to watching the whole. here's will people been saying about rejected and then it was actually useful on. the early show i go out of my way to lunch you know what it is that really packs a punch oh yeah it is the john oliver of our three americans doing the same we are verily better than the blue. sea people you've never heard of love are down for the night and on the roads of the world playing so very. many troops would send us an e-mail. to. the white house struggles to find answers to some simple questions like are all nazis bad or just some is china our enemy or our friend is mexico paying for the wall or wait and yet another is a small matter of whether or not we should engage in ukraine civil war by arming one side with lethal weapons hopefully originally many held out hope that this administration might be different that for once we my mind their own business and not equate doling out bloodshed with building global democracy but the usua

dot com coming up sean stone sits down with journalist and author play escobar discussed the new silk road in afghanistan and the u.s. foreign policy that cultivates that stayed true to watching the whole. you get you into u.s. history no medicine no good morning and one million people died and. he killed people even you. know no one's income tooling a few bodies around him and that's. the white house struggles to find answers to some simple questions like are all nazis bad or just some is china our enemy or our friend is mexico paying for the wall or wait and another is a small matter of whether or not we should engage in ukraine civil war by arming one side with lethal weapons hopefully originally many held out hope that this administration might be different that for once we my mind their own business and not equate doling out bloodshed with building global democracy but the usual schizophrenia we have now come to expect not only as our president not putin's puppet he's now considering sending weapons to the very people who would love nothing more than to use them to take moscow for wha

it is this connection, the old silk road.he idea, connecting china to europe and goes right across central asia and into greece. the other interesting angle is the fa ct the other interesting angle is the fact that the chinese government is urging chinese and investors to invest at home rather than abroad, yet here we see the government sort of doing the opposite. exactly, we have seen a slowdown in money from chinese businesses being allowed to come out of the country and invest in europe and north america adhere as you quite rightly say the chinese government is more than happy to do what it wanted its own money and if it gets the right to political influence out of it. let's move on to the next one, this is another sort of business story, this one from gulf news business section, the united arab emirates to roll out vat, but enabled across all of the gulf corporations. the uae will be first to do with from the first of january next year as it is a 5% across the whole region. it will come through, all the way through 2018 t

against it even as a year ago now they're totally on board now they want to create as part of that silk road perhaps a coin that will work all across the new soap road and compete with the u.s. dollar the u.s. dollar is weak you have demand for oil is weak and surprises of lithium carbonate the primary base chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation no longer have the i'm unless you're bipolar and short well we got to take a break and we're back. we all willingly accepted the risk of being shot wounded taken prisoner but noone signed up to be friggin poisoned by our own people of seeing stuff that was nuclear biological and chemical products the said do not truck tires all types of styrofoam polystyrene these batterie

right and of course has a silk road being built in the region this year for structure project and how much of this brewing conflict between china and india is actually about to suck that china is building and the rise of yeah go ahead yet china i mean china has put in one hundred sixty billion asian and infrastructure bank these central asian countries russia has lost the influence china is now there are both of our biter of power in central asia go to kazakhstan you go to down all of these countries are now dependent on chinese economic power they're coming in they're building rail they're building power plants roads bridges this is all about expanding china into europe so they're. basically the one built one road ends in a lot of eastern european countries there china's billy high speed rail between serbia in romania so not only is washington d.c. asleep at the wheel but so is berlin when he says europe now wants infrastructure investment they go to beijing they don't go to berlin so this going to be able to one bill one road it serves a few purposes number one it gets it stops any

because china sees afghanistan as a chunk of vital chunk of the modern era silk road that it has been trying to revive for the past several years and it has many argue no economic projects potential ones and active ones in afghanistan and this move that encourage is continued war of insurgency by the taliban as well as eisel and others that would deter our chinese state and private sector investors from making any further investment in afghanistan and this is just yet another means to me of course within the overall strategy of the united states against china and chinese economy because the united states has been trying to create hotbeds of tensions near you know china consider the decision today about afghanistan as well as increasing tensions on the korean peninsula lot that has brought an increasing number a warship u.s. warships in our waters near the chinese territories and territorial waters as well as trans continued contacts with tyvon all these shows an overall strategy that is aimed at you know chinese economy so to put it in natural in one single sentence this is to me this

think of it tied to the likes of the silk road, the dark web where people are able to buy drugs or thet hack attack. if you start to see the likes of ibm and microsoft start to supply the government with blockchain data, blockchain technology, we could start to make that distinction between underlying technology, the ledger technology, and the cryptocurrencies. we are seeing a potential bubble. emily: caroline hyde for us in london, thanks so much. bob o'donnell, president of technologies, you are sticking with me. alibaba makes a push to catch amazon in the race to become the world's most valuable company. what drives the companies on opposite sides of the world? our interactive tv function. you can watch us live. you can go back to our interviews. you can send producers a message. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪ emily: alibaba is closing in on amazon in the race to be to world's most valuable e-commerce company. shares of alibaba have almost doubled in price over the last year while amazon shares have only increased 25%. at $

from asia were exchanging goods with europeans along an ancient trade route to the north called the silk roadthe cave-buried people might have come from the vast area we know today as china. or are these simply trade goods from the north? they need more evidence. a single piece of cloth found in one of the caves could provide a clue. textile expert margarita gleba at university college london made a discovery using a scanning electron microscope that can magnify specimens up to 30,000 times. margarita gleba: this textile seemed to be made in what we call plain weave, or also known as tabby. tabby. and that is the simplest type of weave you can create on a loom. so it's one over, one under. a curious thing with this particular sample is that all the fibers appear to be parallel to each other, but they're not twisted in any way. narrator: most thread or yarn is produced by spinning short fibers, like this wool. the twisting action gathers them together into a single long thread. the only fiber that allows you to produce a thread without a specific twist is silk. and the reason for that is that

it's from gandhara, and it's the region just on the silk road where the chinese culture and the indianreek culture. >> kroft: art is at the center of marino's universe, and his knowledge of it is encyclopedic. he not only collects it, he curates it and commissions it for his projects. it covers nearly every inch of wall space and is here, he says, not to impress his clients but to inspire the staff of 150 designers and architects with whom he turns out between 50 and 100 projects a year. >> marino: design-wise, i look at everything. if i don't personally design it, i'll review it. i'm kind of creative director of the firm. >> kroft: you're a bit of a control freak. >> marino: you'd have to ask the staff for that. ( laughs ) >> kroft: bordering on the tyrannical. >> marino: you'd have to confirm that with the staff. ( laughs ) >> kroft: do you see yourself as a tyrannical boss? >> marino: no. i only care about the work. and i'm not tyrannical personally in any way, shape or passionate about the quality of the work. >> kroft: and so are the clients that can afford him, who

we also see china developing their one belt, one road, really the modern-day silk road.ot of infrastructure spend on the. we are looking at the impact on copper and steel continuing to rise come and we think it will impact oil prices. joe: the project is very interesting, some people think it will be really nothing materializing there, so why are you optimistic and what is the best way to get exposure to this extraordinary project? jim: one is the inventory in the commodities has been coming down for the last seven years and the industry has gotten better aligned from a supply and demand standpoint. and our belief is china is really is intent on creating this economic zone. the fixed income fund, we set our portfolio up so 20% of the fund is positioned in commodity companies, oil and gas companies, and industrial as the investment builds out. julia: you mentioned china and the fact you believe people are misinterpreting, or maybe not appreciating the extent of all of the demand. what about the fact that we saw the iaa currently underestimating -- not just about the proje

to help local areas -- the silk road over 70 countries. when i started -- cultural heritage, i did not find confidence anywhere. the knowledge is here. it is here in america. innovation is in america. it's up to you. go to your local people. they will challenge you. you will see the resources in america beat out the federal government. still, america's best. thank you. >> thank you very much for your perspective. >> talk about switzerland having an initiative referendum. of the interesting factoids is that one of the half of referendums is held in switzerland. >> a former chair of united nations -- a liked what you said george about the accuracy capacity of citizens in the u.s.. i started my work on global issues back in 1980, presidential commission on world hunger. i have to say, your role as a citizen is so much more powerful. i wanted to hear -- that question the assertion that climate change is the greatest national security threat and development, that this person -- council organizations with about 100 nonprofit groups working toget

to help local areas along the silk road, over 70 countries. to get involved through knowledge and cultural heritage. to -- the objectives is meetings, a bank study confirmed over 90% of corporations don't know what to go -- what to do. recently violation last year in new york was very discouraging. i do not think the approach, let's have donald trump for or against -- the issue is make it local. inform people and they are serious. integrate. america is still a part. america is needed more than ever. when i started in 2000, my project, i did not find competence anywhere as i found here. the smithsonian. the knowledge is here. the entrepreneurial spirit. innovation is in america. it's up to you. go to your local people. educate them and they will challenge you. you will see the resources in beyond the federal government. still, america's best. thank you. >> thank you very much for your perspective. he talked about switzerland having an initiative referendum. let california and places like that. one of the interesting factoids is that one of the

a big project unesco with the chinese with the library of congress to help local areas along the silk road over 70 countries, to get involved through knowledge, culture heritage and natural heritage. and one of the objectives is to support green neighbors, sustainable development goals. because last april at a world bank annual meetings, a study confirmed over 90% of the last corporations don't know after almost two years what to do with sustainable development goals. there will also be government, last month in new york is rather discouraging. so i do not think i will change -- [inaudible] i do not think that the approach let's have donald trump for or against. the issue is bring it at personal and local level, inform, educate people and they are serious to me of their culture heritage and natural heritage. in that respect america is still part of sustainable -- america's needed more than ever. when i started in year 2000, my project, my task was, unesco, i did not find confidence anywhere as i found here with smithsonian institution. the knowledge is here. the entrepreneurial spirit is a

any time something refuses to die after crashes, hacking, break-ins, the silk road scandal, it just willor that antifa jellty what taylor would call it, you've got -- >> now who's dropping the lingo. >> does that mean, does that mean take a substantial portion of your net worth and throw at digital coins because someone's calling it an asset class. however, get comfortable, get comfortable transacting we buying, hold, don't ignore it in case brian is right. the jury is still out for me >> you're hanging a lot on brian kelly. >> i'm good with that. i'll carry that weight brian kelly and josh brown, pleasure appreciate it. >> thanks kelly. do you own bitcoin yet >> no, i don't the psychological hedge, go buy a powerball ticket someone's going to win and by the way, i don't think it's the same as a lottery ticket i respect josh's point, because you don't understand it, doesn't mean it's wrong or not doesn't matter >> i'm not buying a lot toe ticket either. >>> all quieter today on the north korean front after yesterday's heated words where the two countries and the world could go from here