u.s.-china relationship. an economic competition is getting fierce. ideological competition is getting fierce. institutional competition that is getting more fierce. that is where i think the china and u.s. competition lies. it with think of it as the military competition, and that is where we center our strategy around, we will miss other parts of the competition. i was reading an article by a leading chinese academic. said talk about the relationship between the united states said talk about the relationship between the united states and china, it but moress hot, profound and widespread. i think that is right. as we manage this critical issue of the challenge of avoiding but more profound andwar, we should not t result in risk aversion or distraction from these other elements. >> that is an interesting point. we are not sleepwalking towards this arrangement of history. an ann: i think the big question is why am i here. i focus on economics and finance. i think there is a good reason why i'm here and that it is that china's ambitions are not just stra

u.s.-china relations. the council on foreign relations hosted this event with a focus on u.s. policy in the asia-pacific region. panelists examine china's economic and regional ambitions as well as policy under the trump administration. this runs one hour. >> i think we will go in and get started. i know we got a lot of ground to cover, a lot of questions that people will want to ask. some of you have contacted me before hand to launch your request. it afternoon everybody and welcome to this council on foreign relations meeting on the u.s.-china relations. i'm evan osnos from the new yorker and the brookings institution or i'm thrilled to be joined by three of my favorite scholar practitioners and they'll introduce them in a second buffer zone what you commended them for agreeing to wait into one of the most complex and pressing questions, foreign-policy questions before us, and that of course is a question of whether beijing and washington can avert the pressure towards confrontation, the pressure of history, the patterns of history that drive a ruling power and a rising power

u.s. and china today. i think there is. we are trying to look through the noise of the day, whether it climate going from me pact or missile tests or potential conflict in the south china sea. becoming -- we look through that to the structural and even sub-structural reality. rising poweris a threatening to disrupt. helps ishat picture put the rest of the things in place. the notcept is called trap but theaham trap.ides in 12 of the cases, the outcome was more. and for the cases, the outcome was averted. as i argue in the book, business as usual, in this case i believe sadly will produce history as usual and history as usual, in this case, would be catastrophic. so, the cases help remind us that in instances where nobody wants war, that does not mean more cannot occur. in cases where war would be catastrophic that does not mean we cannot averted. the case i think of most is the case on 1914. i do not think you can study world war i too much. it is still dazzling to imagine. after the war, someone was asked -- how did this h

having spent years debating the andt of china and academia in the white house situation, i have come to the firm belief that almost every arguments over u.s. policy as it relates to china is what i would call a proxy war over the underlying assumptions of china. where you land on the assumptions determines where you come out and policy issues. i think that's important enough to be lifted up to the front of the conversation, otherwise, it would be lurked behind. the first is the inevitability of china's rise. i was reading graham's comment in new york times describing china's unstoppable rise. saying is my left the world largest pyramid scheme and it won't be important to the global economy and a relatively short amount of time. when your prediction on the chinese power projection is fundamental. there are people that believe the subject is relatively benign, the effect want to be different, they want what we want, they want what they want, but its want of it does all that much. there's a different school that i subscribed to that suggests that china's rise is not a bad thing, but elements of it to toe quite severe challenges the vital int

u.s./china relationship continue to grow and serve the interest of peace and stability in this region in accordance -- and serve the interests of all nations in this region and we believe that a good china, u.s. relationship is beneficial to all of us. and in vietnam, we have a saying that when the buffaloes fight, the flies may be hurt. and we don't want to see that. [ speaking foreign language ] >> translator: and we would request both the united states and chaiina to act in transparey and in a positive manner, so not to impact negatively in the region and amongst other nations. >> let me thank you for your candid remarks. thank you for coming to heritage, and thank you for your efforts in bringing closer the u.s. and vietnamese relationship. [ speaking foreign language ] >> join me in thanking them. [ applause ] >> ladies and gentlemen, we do need to let the prime minister exit first and his delegation and the media pool, those who are from the general public here attending on behalf of heritage, we appreciate you remaining in the room just a moment. [ applause ] >> in case you missed

u.s.-china relationship continues to grow and serve the interest of peace and stability in this region's -- in this region and all nations in this region/ . we believe a good china-u.s. relationship is beneficial to all of us. in vietnam, we have a saying, when the buffaloes fight the flies may be hurt. [laughter] p.m. xuan phuc: [speaking vietnamese] translator: we would request both the united states and china to act in full transparency and in a responsible manner so not to impact negatively on the region and the relations among other nations. thank you. >> thank you for your remarks and coming to heritage. effortsk you for your in u.s.-vietnamese relations. translator: [speaking vietnamese ] >> thank you. [applause] >> we need to let the prime minister exit first and his people. [applause] >> coming up next on c-span, "washington journal" live with your phone calls and a look at the u.s. navy's maintenance challenge and internet surveillance and fisa. tonight, discussion on the state of congress with a political scientist. and former congressman mickey edwards. in one hour, new york t

u.s.-china relationship. ichard: we'll have a survey that's global views toward china and views about the balance of power between the u.s. and china. both in asia and around the world. in the last few years we've framed a lot of our research on the u.s., not only in terms of how they see the u.s., but the u.s. vis-a-vis china. that's something we'll have more coming up on soon. tarun: let's open it up. in the back. questioner: thank you very much. i'm from the united states of africa -- [inaudible] -- i usually like to ask the last question. this is very important. the opening sin app sis that the gentleman did, he asked this. how the world sees the u.s. ow the world sees trump. we ask people, can you clarify when you say how the world? visaou referring to yoursy results from the -- your survey results from the political class of the country? and why would you say the world when those leaders are not the largest representative of the world? also, you need to understand this. trump is undermining, saab staging

u.s.-china relationship. richard: we'll have a survey that's global views toward china and views about the balance of power between the u.s. and china. both in asia and around the world. in the last few years we've framed a lot of our research on the u.s., not only in terms of how they see the u.s., but the u.s. vis-a-vis china. that's something we'll have more coming up on soon. tarun: let's open it up. in the back. questioner: thank you very much. i'm from the united states of africa -- [inaudible] -- i usually like to ask the last question. this is very important. the opening sin app sis that the gentleman did, he asked this. how the world sees the u.s. ow the world sees trump. we ask people, can you clarify when you say how the world? visaou referring to yoursy results from the -- your survey results from the political class of the country? and why would you say the world when those leaders are not the largest representative of the world? also, you need to understand this. trump is undermining, saab stagin

u.s.-china. tough talk trump had him the campaign trail, regarding china, none of the china bashing has turned into policy. the second thing, there is a win-win pathway for u.s.-china, which is about mutual investment. nationals and. the china market, now that china is more developed. and more acceptance in the u.s. of chinese investment. i do not think a trade deal could be done, but something on investments is very possible under president trump and president xi. betty: the people that are gathered here for your forum, what iss of wharton, top of mind with regards to u.s.-china relations? what do they want to hear from speakers at the forum? geoffrey: there is a real difference between the politics of u.s.-china, the way it plays in domestic politics and underlying economic realities. the economic realities are really win-win, not the win lose -- win-lose we might see in politics. a win for the u.s. is multinational firms. take general motors. outwhen in bankruptcy, came as a comfortable company

u.s.-china competition. the u.s. has not been thinking about a ideological contest for several decades now, and now we're facing one, a very active propaganda machine out of china, in your newspapers and whatnot. and what's interesting, that may have some effect because when publics are surveyed, they consistently overestimate their country's for instance economic dependence on china. many will say china is the most important country or china has the most important economy in the world. so constant overestimation of chinese influence. and i think that's a direct result of chinese propaganda. and united states is not really engaged in that space at all. so i think one of the tough policy questions i think will have to be much bigger than what we've done in the past. i think what u.s. policy makers have to think about -- and again traditionally more tougher in a trump context. buts i think how does the united states engage again is something that's coming back fast and furious from washington. >> but from your sper pect

u.s. steaks be going to china?e have the story coming up. ♪ ♪ >> everyone, every man knows that a child needs food. without food, you can do nothing. we had a lot of problems. >> they were eating nothing. >> that could have been us. anyone of us. ♪ ♪ ♪ sarah: welcome back. you are watching "dw news." celebrations across germany as lawmakers approved same-sex marriage. the reform will give gay couples full marriage rights, including the ability to adopt children. a funeral for the from her chancellorhelmut kohl set to take place on saturday. the two weeks since his death have been marked by disputes within his family and uncertainty about how to act after he said he did not want a federal royal service. the politicians and citizens are still paying respects. ♪ correspondent: within hours of his death, people began arriving at his home to pay tribute to -- and to offer condolences. to express sadness and admiration for the great statesman. in germany, politicians of all stripes were quick to pay respects. >>helmut ko

china. while competition between the u.s. and china, the two largest economies, is bound to occur, conflict is not inevitable. our countries can and do cooperate for mutual benefit. and we will pledge to work closely with china where we share a common cause. we seek a constructive, results-oriented relationship with china. we believe that the united states can engage china diplomatically and economically. to ensure that our relationship is beneficial not only to the , united states and china, but also to the region and the world. all countries should have a voice in shaping the international system, but doing so by ignoring or violating international law threatens all that the inclusive global community has built together over 70 years. an international system that grew out of the grim lessons of world war ii, and the immense suffering of tens of millions. for example the united states , remains committed to protecting the rights, freedoms, lawful uses of the sea, and the ability of countries to protect exercise those rights i

u.s.-china relations are for the stability of the asia-pacific. we believe that china also recognizes this. we continue to work together with our longtime, steadfast allies. we ensure the military means to keep the peace. we will not use our allies and partners, or our relationships with them, or the capabilities integral to their security as bargaining chips. in addition to the challenges presented by north korea and china, there is another situation that we must all work together to address for the good of our nations and to ensure a healthy -- for our peoples. violence, as noted by the premised her last night, encoding fighters returning from the medical -- middle east seek to gain ground in southeast asia. last week, isis linked militants in the philippines attempted to seize part of a city and mindanao. killing police and taking worshipers hostage. isis claimed responsibility for the brutal bombings that killed three police officers at a jakarta bus station. we americans stand in sympathy livespport of those whose have been brutalized by such

u.s. and china. was there any movement on how to deal with the growing threat from north korea? we're live in shanghai. >>> the trump administration says the u.s. and china share a common concern about the threat posed by north korea's nuclear missile program. jim mattis and secretary of state rex tillerson hosting their chinese counterparts to discuss the growing crisis. for months the white house has been lobbying china to exert more influence over the kim jong-un regime. >> last night in iowa, president trump praised china's president but also sent a message that he expects more from beijing. >> we've had a very good relationship with china in all fairness. and i do like president xi. i wish we would have more help on north korea from china. that doesn't seem to be working out, but i do like the president a lot. >> the meeting with top chinese officials comes days after the death of otto warmbier. the american college student spent 17 months hard -- before he was sent -- hard labor before he was sent home in a coma. we have more on the high-level meetings and where the two cou

u.s. two goals one was to sort of wean the rest of these countries off of china a little bit and have them go once on the u.s. right particularly troublesome now that china is sort of acting like a leader with their built in road initiative the moon but bottom the second reason it would be a good deal is that these trading partners have relied on china for so long that we want to give them some comfort to raise their standards as opposed to lowering their standards so both with labor rights and environmental rights and sustainable development so that's what we were pushing is the united states that's changed a lot in this administration and interestingly the other eleven nations that are part of the pacific partnership they're going to go it alone they're going to do it without the united states so it's so ironic that we in the u.s. had this pushed it and now we're pulling back they're going forward and my guess is china will step in and try to be involved in this going to fill that vacuum right away got it if they've got any smarts which they do europe last month the president saying germ

u.s.-china policy question mark >> well, too big of a relationship to fail. h other government officials in china during our days there. said and heard from business leaders is, we are invested in china's growth, future. .he market has changed he industries -- more difficult market. what we have seen in the last few years is how china's regulating technology firms. whether it's doing with cross order data flows, transfer of technology of intellectual property, there are a lot of real concerns about the direction of china's regulatory body. the other concern of course is, china has not moved fast enough on market access opening. particularly in the area of financial services. that's what we were talking about and expressing to government officials in china and the premier directly. we need to see bolder and more decisive action if this relationship will be improved. notwithstanding the good start between president xi jinping and president trump. >> i will pull the chart here on the bloomberg, g #btv five suit -- 5279. it's over the last few decades. you see it

talking about the underscoring the fact that china and the u.s. in total agreement about the escalating the situation in north korea. china and other countries regardless had to step up efforts to crack down on north korea in the criminal enterprises that fund their weapons program. they also had just offered the new book seapower. this really seems to be disconcerting at the moment. they might be up for a sixth nuclear test. we've a situation of the death of the american who was just returned to the u.s. after being held prisoner and they said were in agreement but we haven't done anything. what do you think happens next here. i think we make china walk the walk considering they have already talked the talk. actually using the leverage they had to begin squeezing that north korean economy. they're perfectly capable of doing that. the denuclearization of the peninsula. that is making north korea walk away from its nuclear capabilities. we need to force china to make good on those words. let's see how it turns out. i am encouraged by the fact that

u.s. is one of the three but think about the populations of india and china one point four billion over a bit over one billion in india compared to the how many people there are in the u.s. so you see the amount of coal actually being used is that it's a cheap type of fuel and it's a fuel that they're taking advantage of now and as i was for a policy shift in the states that's just a minuscule part of the equation even if donald trump likes to make it sound like a big policy shift well let's talk about environmental obligations not very popular with this presidential administration the u.s. calls on the rise obviously emissions reduction targets are very threatened do you think the u.s. china and india well actually be able to fulfill their existing obligation if the trend goes on well we know about the existing obligations when it comes to the states would president draw trouble or somebody said he wants a pull out of the paris accord which means that if that does happen there is really no obligation to do anything but like i mentioned the states really in the whole equation is a smaller

u.s./china security and defense dialogues beginning tomorrow and it's already been stated that the issues will be at the top of the agenda. do you anticipate walking away from tomorrow's dialogue with any kind of tangible results on north korea? >> we have been very forceful in our political and economic pressure that has been applied in north korea. i think we will continue to apply that, and as i mentioned earlier, obviously china can play -- has played and can continue to play a greater role in helping to resolve this situation, and we will continue to hopefully build on the relationship and the dialogue that we've had with china. i think there have been some positive steps that they've taken, both at the u.n. and economically to help strengthen the case against north korea. but i'm not going to get ahead of where we may or may not go, and obviously, we hope that those discussions with china are productive and continue to move us forward. >> there were some reports out that president trump told members of that tech meeting yesterday that the senate health care bill needed to have more

u.s.-china relations with a focus on the asia region. hosted by the

u.s. and china, both in asia and around the world. n the last few years we frame a lot of our research on the u.s. not only in terms of how they see the u.s. in and of itself but how they see the u.s. vis-À-vis china. that something we will have coming up on sin. >> let's open it up. in the back. >> thank you very much. i'm from the united states of africa -- [inaudible] i use it like to ask the last question but this is very important. the opening synopsis that the gentleman did, he asked this, how the world sees the u.s., how the world sees trump. we ask people, can you clarify when you say how the world? are you referring to your survey results from the government and political classes of those countries? is that what you're talking about why would you say the world when those leaders are not ala large is represented of the world? also you need to understand this. trump is undermining, sabotaging the foundation of what world leaders have experienced or followed over the last 70 years. so you have to look at in those contexts, not in

china has told the u.s. mind its own business over the detention of labor activists who were investigating shoes made rand.he trump b the state department called for the release. china says no country has the right to interfere. california isf warning the u.s. not to rest on its laurels amid rising competition in china. the democratic governor needs a 2.5 train dollar economy, the world's sixth largest just behind the u.k. onehey are making a one to trump down, china up. now they are saying china is on the move. the president say when china puts its mind to something, we persistent we get it done, so i thought those were the words of someone who is looking out over the whole world, and not looking inward. global news 24 hours a day of powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: as we were discussing, an unexpected did force pouring fuel on the u.s. bond market fire, and we are talking china. kathleen hays has more. we were just discussing the stability of

u.s. only that china will remain in this agreement but a state run newspaper in an editorial called the u.sl reckless and said it was an example of how the u.s. could be selfish and show it's responsibility. >> matt rivers for us there in beijing. thank you. >> critics say influence on the world events, americans find themselves taking backseat and other critical global issues. the president very clear here that he is talking to a domestic audience. he made promises and he's going to keep the promises to american workers. how is that playing where you are. >> it's playing very badly. especially with european leaders. one of the things that's so interesting over the past couple of days is where leadership in washington, you had h.r h.r. mcmaster as well saying it's going to be america first and also that america is going to have a different style of leadership. now you're having a lot of european leaders asking what is american leadership. what is it going to look like in the future and they're obviously already going in a different direction. they're trying to foster deeper trade ties for i

u.s.-china, maybe u.s.-china agreement on the korea issue and that will represent south korea's security interests. i believe u.s. and north korea will play -- still believe that they play a critical role in resolving the north korean issue. it is still very necessary to resolve the uncertainty and unpredictability. it's really important to cooperate and coordinate very closely between this u.s. and south korea, two countries. let me stop here. >> okay, thanks very much. some very interesting observations there. we want to get into about this concern. n. south korea over over statements. mike, i put you last because i knew that you would enlighten us even mor about the north korean missile capabilities and ideas on dealing with it. >> thank you, mark. as my co-panelist discussed earlier missiles play kind of a paramount role in north korea's state craft and its means to ensure its survival. it's probably the preferred means for delivering a nuclear weapon. missiles are also have a conventional capability an

u.s. securities. china's holdings of u.s.s have increased to the highest since october and rose for a third straight month in april. now it is at the highest level and half a year and a stabilizing. japan, whiche that is the biggest nine u.s. holder of treasuries actually decreased it total to 1.1 trillion. --nese ownership has one chinese ownership has risen. if >> a surprise slowdown in u.s. inflation is threatening the fed's desires to normalize policy. how is the market interpreting janet yellen's weak data. joining us is cameron. the phrase of the day -- policy mistake. people talking about the idea that the fed might raise when it's an appropriate. is that a reasonable way of interpreting the market action? not that we have an intent selloff, but every getting hints of that concern? >> i would not call it a policy error, but more of a normalization. we have been in an environment for the last seven years of accommodative monetary policy. we are simply willing to an environment where it is less accommodative. it is still

u.s. has with china. he has been strong in saying it's an important relationship for the u.s. n went on to say that they are pushing for reciprocal trade with china and opened more dialogue when it comes to current and other aspects of the relationship. up ont: i want to pick the currency point. president trump had vowed to label china's -- china a currency manipulator -- manipulator, and that went by the wayside. the fact that countries keep their currencies intentionally week to gain an advantage in exporting to us. >> we did hear some pretty strong comments that the u.s. will not tolerate any currency manipulation, especially if it is for a competitive advantage. he ate knowledge that china is intervening in pushing the currency in the other direction to prevent capital outflows but it looks like the dialog is open, but the u.s. message is very clear and consistent, don't mess with us. are u.s. treasury reporter. was just reporting earlier, fired fbi director james comey will describe many of the interactions with president trump but will stop short of saying the president s

china agreed to reopen this $2.5 billion market to american writers and cattle producers before the market was close of the u.s was china's largest supplier of the provided 30% of its imports. the action by the us department of agriculture today are an important first step in the process of reopening this lucrative market to american businesses. tomorrow the vice president will be speaking at the department of health and human services about the continuing death spiral of obamacare and why we need to keep our promise to the american people and repealed and replaced it with a patient centric alternative as soon as possible. this week in the president was in wisconsin. the president will be there tomorrow when he met with everyday americans lost their plans, the doctors and a lot of the help for the failing locker as the vice president said on saturday, president trump will never stop fighting for the families who are facing possible choices every day as their premiums and deductibles continue to skyrocket. he will not rest until we fixed this. the president's tax reform teen is intended to hold meetings and dis

and china and latin america, at least during the. i'm talking about. the u.s. was much more concerned about fidel castro and the soviets in latin america. the example about namibia, this issue about china bringing its own labor, i think that is something that has become more and more of a problem in contemporary chinese projects than it was in the 60's. i think during the 60's, you are right, indicates the case of the tanzania railway, there was thousands of chinese workers that were sent. i think there is also some appreciation in ways that these workers were toughing it out in africa. the reaction was a little bit more mixed. i would say that if you like at the range of african opinions about china and chinese aid in africa, today, they are very diverse. there are some african leaders denouncing china and saying it is no different from the imperialists, the others are praising china and it really is a model that is different from the west and it is a country we can trust. i think that is also an issue. i think there is a really complex range of attitudes towar

if you are from elsewhere, the u.s., japan, china, it is more stringent. a couple more liberal exit brexit supporters have suggested, the system should be liberalized so there is an equal basis on which people can be evaluated. oliver: up next, how norway became an electric car in a and then, tidying up the final frontier. ric ar mecca. and then, tidying up the final frontier. ♪ oliver: welcome to "bloomberg businessweek." runs ony, the economy oil and gas, but not the cars. happening in norway and why are they pushing to the electric vehicle? >> it is a combination of incentives that have been around and cars like's viable secondming cars for people in the last five years or so. norway, with a population of i million, has more electric cars on the road than anyone besides the u.s., china, and japan. oliver: they have a higher number of cars per population. what made it amenable for them to get ahead of the curve and push for incentives? >> a number of things that make it hard to replicate. norway has a lot of cheap hydropower renumber two, vast oil wealth

the feeling that china has already leap frogged over the u.s. n terms to have economy based on the theft of ip i think feels a lot of animus towards china and while ip is a big issue, i don't see it as kind of a secret sauce that's going to get china to beat america in the next century. there's a microphone. we will get you next. >> hi, instructor here. okay, so it sounds like you are advocating for freer trade provided we incorporate the extra nalities, how do you send something like that in a political environment where populism is against free friday and political market elites are against incorporating incorporating the negative extranalities? >> with difficulty. [laughter] >> well, you've got a rising tide of sentiment among both conservatives and liberals for reform and carbon tax specially as we are evolving in the tax code. so james baker being one of the many people who are speaking out in favor of a carbon tax. you know, we did just do paris accords, so it is in the realm of possibility to do multilateral agreements based on intangible

u.s. was china's largest supplier of beef, providing 70% of its imports. the actions by the u.s. department of agriculture today on important first step in the process of reopening this lucrative market to american businesses. tomorrow, the vice president will be speaking at the department of health and human services about the continuing death spiral of obamacare and why we need to keep our promise to the american people to repeal and replace it with a patient-centered centric alternative as soon as possible. the president was in wisconsin. the president will be there tomorrow where he met with everyday americans that lost their plans, their doctors and a lot of hope from this failing law. president trump will never stop fighting for the families who are facing impossible choices every day as their premiums and deductibles continue to skyrocket. he won't rest until we have fixed this. the president's tax reform team is also continuing to hold meetings and discussions both at the principal level and staff level as we work towards a consensus plan that will deliver middle-class an

u.s. wants and china.ct here in terms of trade. >> moon wants to keep trade off of the agenda. it will be difficult. president trump has talked repeatedly about his dissatisfaction with the free trade deal the obama administration negotiated with south korea in 2012. a bilateral deal. which president trump has called horrible and a one-way street. that can show a chart shows, the trade deficit the u.s. had with south korea. that continues to get bigger. horrible.led the deal why? >> he is pointing to those numbers. the trade deficit. the koreans respond that it doesn't tell the whole story. you have to look at the foreign direct investment from south korea into the united states. that has gone up sharply since the deal went into effect. executives will be traveling with president moon from the largest korean conglomerates and will announce some investments. samsung electronics is going to be investing in a factory in south korea -- south carolina. chances of moons success here? well, it is probable that tr

u.s. and china disagree about north korea. pyongyang makes a surprising offer. have the world covered on "bloomgberg daybreak: asia." we go to washington for the latest on the u.s. and chinese diplomatic security dialogue. >> later we have an interview with the chinese ftc president live from bangkok. coming to you live from our bloomberg headquarters . >> it is that oil complex we have to be worried about. first it was wti, now brent crude heading into a bear marke t. some opec nations are considering deeper out put cuts. >> and they have to extend those cuts even further. you can see that build up in the oil market. we have hit that moment where suddenly everyone is paying attention. >> let's see how the rest of asia will be handing out. -- be panning out. flat on the index 50. cash rate unchanged. rates will not move for some time. futures are positive after an ugly day on the asx 200. the aussie not doing much at 75 51. 82.t falling at 44 we will look at the asian session. lower after half of 1% down on the nikkei 225. 111, spot 35. we will see if asia takes

efforts through their own national policies, and having the biggest leaders of the world, china and the u.sare the biggest emitters, having them appear on stage was a signal for the rest of the world to fall in line. david: you mentioned china, and they will take a leadership role and seem eager for that. are there indications they will live up to that, that they can lead? eric: there are. they are by far and away the greatest global energy economy in terms of job creation. they have two thirds of all the directly or ,ndirectly related to sulfur eight times the u.s.. the bottom line about renewable energy is about jobs. what we want to look for is the u.s. economy responds in a way that is writing the currents -- riding the currents of global economic change or energy, or you have something to do for a living. david: you talked about the role of business and the framework. the target foundation with business is going to paris and a firm this deal. what role will businesses play in this deal? businesses are fundamentally rational, and they are pursuing policies that are fundamentally rationa

u.s.-china economic relations? >> there has been a pretty visible dialogue in terms on the tradeulty deficit. this next year, it will be close to $400 billion. it is over 50% of the total trade deficit of the united states, with over 200 countries, , and in the media, it has been articulated by the president as well. thatnk it is fair to say the chinese have heard that, and least in myze, at view, from my conversations, a bighe -- this is number. for a variety of reasons, the u.s. is quite serious about addressing this, so we have to address it. july 16, there is a deadline from the meetings where there is thet to be some progress in trade area between the two countries, and they are starting to announce different things, and there will probably be more by the 16th. then, after the 16th, i think there will be a lot of interesting things that happen, , both countries are engaged, both countries want to make progress. >> how would you say you are feeling about u.s.-china relations now versus what you were feeling 1,

. >> woodruff: last year, former president obama and china's president xi xinping announced on the same day that the u.sd china would join the paris climate agreement, in an effort to forestall climate change through capping and reducing emissions. china's participation was seen as key: it is the world's largest emitter of carbon dioxide, with the united states running second. but on june 1st, president trump announced his intention to withdraw from the agreement, citing possible economic harm to the u.s. four days later, the top american official in china, the charges d'affaires in beijing, tendered his resignation, citing the president's withdrawal. his name is david rank, and he served 27 years in the foreign service. he joins me now for his first interview since leaving government. david rank, welcome. you knew, when donald trump was running for president, that he had said the u.s. shouldn't be in this climate accord. what was your thinking then? >> boy, i served five presidents over 27 years, i have been through a lot of presidential campaigns, i've heard a lot of things spoken about the u.s.-china

u.s. was china's largest supplier of beef. providing 70% of it is imports. the actions by u.s. department of agriculture are important first step in the process reopening this lucrative market for american businesses. he will talk about the department of health and human services about the death spiral of obamacare and we need to repeal and replace it with a patient-is trick alternative. the president was in wisconsin over weaken and will be there tomorrow where americans lost their doctors and a lot of hope for this family law. president trump will never stop fighting for families that are facing impossible choices every day as their premiums and deductibles continue to skyrocket. he won't rest until we fix this. the president's task force is holding meetings and discussions at principle level and staff level that as we work toward consensus plan that will deliver middle class and tax simplification for everyone. treasury secretary mnuchin and director cone will lead a listening session on tax reform with auto industry leaders later this week. these meetings have been incredib

and china are calling on north korea to s pro ballistic missile test. rex tillerson says the u.s. reiterates to china, they have a di responsibility to exert economic and diplomatic pressure on the regime. they want to prevent further escalation there. >> and then plans to reduce the number of individual plan offerings in wisconsin and indiana next year. the largest u.s. health insurer has been saying that the uncertainty over the subsidy paymen cause it to exit some of those markets. those are used to make insurance more b afford bable and whether thrl anthem said it would exit most of the ohio market next year. >> health care w drivi in the special election in georgia yesterday. in the end, a republican candidate won the most expensive house congressional election ever. john harwood is in atlanta with what the victory means for the white house economic agenda. >> four major take aways from the republican victory yesterday. first of all, the republican political machinery is is operate iing at a high level. they faced challen in six, rose to that challenge. second of all, democrat

u.s.-china 100 day plan, china's national biosafety committee, the nbc, note review approval petitions for eight u.s. biotech products which have seen their approval for the chinese market delayed by an average of five years. pretty astonishing. so following the biosafety committee meeting, nbc meeting, that the chinese ministry of agriculture approved two of the eight pending products and that's disappointing, and i'm concerned that china will not honor the spirit of the 100 day plan, and approving the remaining six products. i understand the nbc is set to meet again by the end of june. >> thank you, congressman. i would say that there was some progress made in the 100 day plan as you suggest and this is one of the principal areas where there was progress we are continuing to press china. we expect and will require that they -- after they follow their process and very quickly approve all eight documents -- i mean all eight applications, this is important not just because of those. it actually delays u.s. farmers from implementing a lot of these high-tech techniques in the domestic market