will see the summit as this bigger load in the international arena and secondly, do you expect the us china high-level exchange mechanism will continue if donald trump is elected? thank you [laughter] >> it's a good question. the first part. [laughter] it's very easy to see that china and the united states have some very difficult issues that we need to manage in the bilateral relationship. issues that it mismanaged could push our relationships in a negative direction rather than a positive direction. certainly the south china sea is one of them area because it involves territorial issues and territorial issues are always sensitive. between sovereign states. but at the same time, our mechanisms or dialogue with china the best we've ever had. we have frequent, not as frequent as putin and xi jinping but xi jinping and president obama have had frequent meetings and a special characteristic of it which even putin i don't think has is they will spend hours together in discussion so that you can get beneath the service of issues and not simply run through your talking points and this is reflecte

weeks that will make it easier for us. chinac market for us. we are opening a china office as we speak, hiring like crazy, doubling the headcount there. i think we have some growing have 4-5 events, including one this weekend and china, but we will rapidly scale up. >> what we you do differently? >> we will have a partner, a strategic partner. it will be huge. unfortunately, we have not officially signed until next week. ufc has failed to get into china. what makes you confident that you will succeed? >> we are the first organization to put an event on in china. it was about learning the ropes. none of us were from china originally, so now we have chinese partners, customers, partners andst whatnot, so it will get easier. again, we will make a big announcement in the coming weeks and months regarding china that will be a big surprise to a lot of people. >> the target is to hold 52 events. is there such a thing as fighter fatigue or viewer fatigue? i see the opportunity to become a part of the daily fabric of asian society and da

us. >> china's state-run media says premier li told abe that china's view on south china sea is fully compatible with international law. li reportedly said japan is not an involved party and should not interfere. prime minister abe also held talks with eu council president donald tusk and german chancellor angela merkel. he stressed the decision of the tribunal is final and legally binding and involved parties are required to comply with it. premier li met representatives from russia, laos, and other countries that have close ties with beijing. >> translator: we have made our stance clear. we will never accept anything that is contrary to international law. >> chinese media say cambodia's prime minister agreed with li that the dispute should be solved with dialogue. beijing has been building artificial islands in the south china sea where vietnam, philippines, and others also claim sovereignty over some islands and maritime rights. >>> prime minister abe and south korean president park geun-hye have agreed to work closely in dealing with north korea's nuclear and missile programs. abe spoke with

-china, or use russian relationship regarding serious anorak and everything going on there but china is absent from that domain. i'm curious as to how do you think some sort of an attack and that would change the outcome especially given that chinese tend to think more long-term than united states and probably russia as well. thanks. >> the question is, there's a lot of attention to the russian factor in the syria, isis, isil, daesh problem in the middle east. china is very concerned about domestic terrorism. they are take the concern about terrorism, the links of the uighurs were the are some external organizations that claim to be trying to stimulate resistance are separatist forces in the area. clearly if the linkage emerged between isis and uighur terrorism, the chinese would take this as a top priority issue. there is cooperation and intelligence exchange among countries that are concerned about this, and i think china is part of that process. but i don't expect that china would become interventionists on those issues because of its concern over this type of terrorism, but they

, the first wave of ebay and amazon, and while amazon has done so so in china, ebay's strategy was a failure. they would hire a usn to run the company in china. knowledge, the local it is really difficult. but u.s. companies still do this. they buy a company or an investment company in china. cory: they bring in a gringo to run it? >> you know, they don't have to be white. [laughter] but it is still very western centric. cory: what is the most common mistake you seek u.s. investors make? looking for something that is exactly a clone of the u.s. in china, it is very different. deep down, the operation will completely be different and needs a different mass-market approach. working with airbnb very closely, it has been an interesting journey to help us to get through that. and companies that are e-commerce based can do better over time. better than amazon and ebay. be empowered to make decisions. thank you very much guys, we appreciate it. this does it for that addition of "bloomberg west." tune in tomorrow, we have patrick willis. a former pro bowler who is now working in technology. this is bloomberg. ♪ >> from o

thank you for showing that technology to us. chinad an international tribunal's ruling against its territorial claims in the south china sea. it is a blow to beijing's prestige as a rising global power come or is it? -- power, or is it? does the ruling give any support to china's claims whatsoever? >> it really doesn't. ruled that china had no historic rights to the waters of the child sign a -- waters of the south china sea. on all the counts that the philippines brought against china, china lost one by one. is the courtreed never purported to address questions of sovereignty, where china claims to have sovereign rights over certain land features, the court has not disputed that. will this ruling change in the backs on the ground? canhere anything the world do to bring china into compliance? >> there isn't in the short term. there is no international maritime police. the court has no enforcement powers. tore's no way to get china unveil these artificial islands they have created or vacate them , but in past instances where countries

china. but i want to work together to deal with the challenges facing both of us. particularly i want to cooperate with china to prevent a global economic crisis in the wake of britain's decision to leave the european union. >> prime minister abe also held talks with eu council president and german chancellor angela merkel. he called for cooperation over the issue. premier li and chinese foreign minister are insisting that the asia/europe meeting should not discuss the south china sea issue. they have been been building art official islands in the area. >>> people in the southern french city of nice are reeling in the aftermath of a deadly attack. a transport truck plowed through crowds of people who had gathered for bastille day celebrations. at least 84 are dead and dozens are injured. president francois hollande says he will extend the country's state of emergency for three months. >> translator: there is no denying the terrorist nature of this attack. we must do everything to fight against expanding terrorism. >> the attack happened on the iconic promenade des a

shifting china to a consumer led recovery will be good for us. ere is strong private consumption that will support the growth for example of johnny walker blue label. high-end discussed whiskey is doing very well. to put in context, china is 2% of diageo. i expect is to grow mid single-digit. poised toesses are deliver robust growth in the future. manus: ivan, it is manus. great to talk to you. before you give me the stock answer, it is early to say how brexit is going to impact you. your role is to be a forward moving -- a four looking man. discussed whiskey sales, are you disappointed by brexit? what do you think the ramifications are for your business post-brexit? simple. is quite diageo, 6% of our business is in the u.k. 25% of our this is his scotch whiskey around the world. scotch whiskey is the thriving export sector for the u.k. in a post-brexit world, the thing that is most important is that we keep great conditions good for one of the uk's most successful drink export businesses. that is what we are advocating for his keep the conditions

sources tell us china international capital corp. preliminary discussions with china investment securities on strategical operation in business opportunities but there is no certainty of a deal between the two companies with assets of $28 billion at the end of last year. australia here. we talking about central-bank action next acted to keep rates .n the full today shuffled today. glenn stevens maintaining the record low of 1.75%. malcolm turnbull says he remains confident of winning majority but may be unable to form a government without the help of independence. we are getting breaking news right now from australia. ahead of that rba rate decision, paul allen with all the numbers in sydney. >> a trade deficit of 1.8 billion. quite a big blow out there. even worse when you compare it against the april figure. up 1%. key factor probably the australian dollar that did weaken considerably in may off about more than 4% -- four cents . that appears to be waiting on these trades. retail sales also out at the same time. that one much more

we could have had this title, united states losing russia to china, already use it. as you mentioned this has become a relationship between russia and china that has strong elements. you've eloquently outlined this. we see china and russia having very few differences in international organizations. very different perspective on united nations. both very careful about the positions they hold in u.n. security council, a great deal of coordination in positions there, might be make differences. both of them have taken advantage of the bricks organization and seeing themselves as leading players in that, also g-20. there's shanghai corporation organization that china and russia set up together that has aspirations for a larger role in international affairs. you didn't really mention that there but it does come out about relationships the two of them have been trying to forge in central asia. but i think one issue that we should bear in mind here although we focused on strategic triangle of relations we're not in the nixon era anymore. our recent presidential suggested they

now, this is really not for us, this is for china and its neighbors. but, you know, they basically say these issues are too hard. we need to leave them to future generations. i think that's probably the right approach. whether we can get back to that is difficult. >> i would just add one word. you asked about advice for the next president. one of the things america doesn't do very well is long-term, subtle policy. it's very hard because of our electoral system, and especially in a year like this, all the rhetoric has gone crazy. let's hope the policy doesn't actually go that way. but once we announce a policy, we need to be very consistent about how we do it. so we shouldn't have freedom of navigation operations and then not have them and then have them again, you know? right now we didn't have them for a few years, and now we're back. and my view would be the next president should do it as well. but the worst thing you can do is start and stop because if i were on other side, i would be a little confused about where the lines are. and i think we shoul

china is, and how angry. even the diplomats were using belligerent language. >> china will take resolute action, he said.any party dares to challenge china's interest. in these specs of land in the waters around them -- through which trillions of pounds worth of trade passes. over flying the south china sea can be scary, as a bbc news found last year. >> this is the chinese navy. you are breaching. correspondent: this was march 2014. five months later, the reef has been transformed and much of the coral destroyed. by january, it was an artificial island, all totally illegal. the spratly islands hearing lasted for three years. china boycotted it. chinatuation in the south sea is complex. this is the area claimed by the philippines, who won the case. plenty of others have their case . brunei, malaysia, vietnam, and taiwan. this is the so-called 9 dash line, china's claim. bigger and more sweeping. the philippines bolstered their claim to the spratly islands by turning a wreck into a military base. a chinese foreign affairs specialist in beijing said the hague ruling was dangerous. miscalculation on the par

it is not a secret to anybody that i think mainland china use that views -- china views taiwan in a very special way. it has aspirations to further solidify relations. i think this is all a part of that adjustment with new leadership. i think there is sometimes campaign rhetoric that takes place not just here but also overseas that once the reality of governance sets in, sometimes those views are tempered as far as the nature of interstate relations. i will leave it there. judy: let's see. how about in the middle back there in the blue shirt? >> george salem. my question concerns the 28 pages you have been on record about, your view of their relative lack of value. my question is timing of release and declassification whether they will also be released with the investigative report which puts it all in context? mr. brennan: i am only the director of the cia, so i do not make decisions about the release of a congressional document and the joint inquiry made in 2002 that subsequently was followed up with the 9/11 commission that thoroughly investigated all of the allegations and informatio

these people, unfortunately, i know them all, these people would love to represent us against china, ainst japan, against all of these countries. mexico, where they are killing us at the border and killing us in trade. we have a massive trade deficit with mexico, not including the drugs that go back and forth by he billions. that's not including the drugs. we have the greatest business people in the world, they would do it for nothing. they love this country. they feel crazy, so angry. they can't believe the deals that are made. we can do things that have never been done before. we will stay open trade. one of the reporters asked me a couple weeks ago, mr. trump, do you believe in free trade. i said yes. believe in free trade, fair trade, i believe 10 other forms of trade. but the bottom line, my deal is that i just don't want labels. want to make great deals with individual countries for our country so that we create jobs and we take in money. want great deals. that is what i want and that is what we will have. free trade, interesting. ree trade is wonderful but to have free trade, w

terms of what we are seeing with messaging in china, how it is an innovation -- as stupid as it seems with emojis -- i have an emoji coach. >> years ago, useour messaging happening writing the iphone wave. in china -- and it initially looked similar to the mobile at that with the third iteration, a "different." now, you can buy stuff, you can use services, you can send global payments to a friend. as someone who just carries a phone with we chat, and 95% of merchants except my payment. because they have it too. and you don't see that with whatsapp. it is mind-boggling how it is happening in this space in china over the last few years. >> and you know, 10 that is a very strategic partner to us, i don't want people to take it negatively but if you look at we chat, what they really did was see the phenomenon going in korea. actually, korea was the innovator on the messaging. -- was the first investor in the first round. and they invested in the third round. and now, they are an $8 billion company. because they looked at that and said oh, we shouldn't just be like whatsapp. we need all of the other features. and then we chat took off. in china

a survey of economists by bloomberg says that china will have to bail out it's bank within two years. tom mckenzie is taking a look at the story for ushow big do they think this bail out will be, and why the urgency? we are talking about a 500 billion dollar bailout of china's banks within two years. some put the number far higher. is a is one estimate that $3 trillion bail out, but even that is a fraction of the 10 billion trillion -- the $10 trillion forecast by kyle bass. china's debt now stands at 240% of gdp. record numbern a of defaults, and in the 12 month since the end of march, nonperforming loans shot up 40%. 210erforming loans may cut billion u.s. dollars according to government data. would question that data and the true scale of the nonperforming loans is likely to be far higher. the pboc released a financial stability report last month, banks are able to maintain relatively high capital levels even if hit by severe shocks. economistrt-term, predicted bailout would hit markets, bank stocks, the renminbi, pushing up government borrowing costs. many say longer-term that a rescue would be positive. china bailed out it's ban

right now japan is number one investor in the us but china is catching up. china has surpassed canada and the us is number 2, chinese trading partner only after the eu. we have 1600 enterprises doing business in the united states. the figure is $15 million. this year, double the figure. now we are negotiating with the united states with an investment treaty. there will be potential in terms of chinese investment in the united states in the next 5 years so a question for my japanese friends. what do you think of the future prospect of chinese investment in the united states? >> china is the largest economy and growing. as you mentioned china will be -- not programmed although some people argue the transpacific partnership is an attempt by east asian nations to equal playing field with china's advantages and that is a fair assessment that tpp is containing china's growth. do you believe that? >> i don't think so. >> it is equal across the board in asia. >> welcome the competition and -- economic exchange. >> what do you think of chinese investment in the unite

all right, tom mackenzie there for us and china.other stories we are following for you. individuals will have to meet conditions forng russian athletes. the ioc says it respects the rights of those who have not broken rules. russia is accused of running a state-sponsored doping program. for members meeting in laos have failed to reach consensus on china's territorial claims in the south china sea. is now foreign minister having related meetings with the southeast agents. he had talks with his counterpart from myanmar, aung san suu kyi. flooding has driven 3000 people from their homes, leaving 114 dead and at least 300 others missing. it is china's worst flood damage since 1998 with 30,000 hectares flooded. at twofit losses are put point $5 billion and the third quarter economic output could be cut by 2%. the global demand for smartphones may be waning, but ei appears to be bucking the trend. our tech reporter david is here with the details. growing so quickly and a slowing market, david? is selling more handsets than ever before. at

china sea. beijing has built artificial islands there. >> translator: muscle flexing cannot be used to threaten rs. >> xi said china will never tolerate activities aimed at an independent taiwan. >>> a key survey by japan's central bank shows a mixed mood among companies. gene otani joins us with that story and business headlines. >>> japan's central bank has released one of the closed economic reports. the tankan survey shows business sentiment was unchanged at large manufacturers but fell for major nonmanufacturers. bank of japan officials reserved more than 10,000 companies. most of the responses were made before britain's eu referendum. the reports headline index sentiment was plus 6 for the manufacturers. the nonmanufacturers down 3 points from before. the drop came as spending by foreign tourists loses steam. the index expresses the difference in the percentage of firms that say business is good versus those that say it's bad. more companies are optimistic. pollsters expect the large manufacturers mood will be unchanged for the coming quarter but predict a 2 point decline for the nonmanufa

us, weout china raping tested that out in a focus group.ie: make sure your focus group doesn't stand in contrast to your practice. tom friedman: and also just the facts. if, i got no problem with bernie skeptic on a globalization. i feel like he has earned it, a lifelong position that he studied the issues from his point of view, whatever. he is not a billionaire who has actually been buying the lowest cost global producer for everyone of his hotels. exactly. that is troubling, i think. charlie: why are you to the left of bernie sanders? health care? tom friedman: i would expand the earned income tax credit. i would have wage insurance. -- people that get caught up for trade, exactly. i think if you lose your job to trade, funded through the government. it would pay in. charlie: people with insurance can figure that out. no corporate tax. tom friedman: i would also shift our medicare tax to something -- i would pay for medicare out of vat. be,ally think there should not the idea original to me, but people should see if you have a vat, and t

china's uses what it calls the nine dash line to claim sovereignty over 90% of the areas despite the protests of its neighbors. reporter: rival pro-and anti-protesters out by the international tribunal in the hague moment for the ruling was handed down. and then it came. a sweeping r ruling in thehese territorial struggle or the south china sea. >> we call on those concerned to exercise restraint and the variety. the philippines strongly affirms its respectct for this milestone decision as an important contribution to ongoing efforts in addressing disputes in itself china cecil. reporter: the decision increases pressure on china to ease pressure in the region by ruling out certain outcrops do not have t territory endowing davavis, it punches aa series of holes in the demarcation line and declares beijing's efforts to build artificial islands illegal. the judgment has repercussions for the adnan syed taiwan who asserts territorial rights s in the south chinaa sea. but it makes restraint look increasingly unlikely. brent: authorities in italy say 22 people have been killed and dozens i

recalls >>: compliance have overstepped the boundaries by telling us to go back to china calling us and derogatory names it's about. hate not any sort of real issues that they are launching. that's not san francisco. former mayor willie brown spoke at the previous rally in support of mayor lee. the recall effort needs 47- thousand signatures to qualify for the november ballot. >> britteny: inland areas or in trying to tell the jurors in the '80s is been very comfortable. at the end of the work week even into a week and that's when the triple digits are back. the size corelate when not sample lot of cloudiness receipt fog and for overnight hours at claudius start then we see more sunshine toward the afternoon similar conditions right now this time yesterday of three degrees knapp but of foreign fairfield and livermore san francisco and 667 degrees in 67 concord 68 in santa rosa nevada wrote the 67 and half moon bay 66 in mountain view. clouds will start to develop and to the next few hours we're still seeing clear conditions onshore flow that will give us some francisco warmer temperatur

but you know that china sends other stuff and we can't send us that the china. we can't free trade and the currency manipulation is unacceptable and on top of everything else, in the south china sea, they are building a massive military fortress that they are not supposed be building because they have absolutely no respect for us. all of that is going to change. here is the story, are you ready? we do not win as a country anymore. we used to win. we go and fight these wars like iraq, we should of never got in. i said you will destabilize the middle east. i was a business guy. nobody cared. it was just common sense. you had iran and iraq always fighting. nobody moving. they were the same power. we decimated one power and now iran will take over iraq. we made it possible for them. here's the story, we don't win anymore. but we will start winning again. our military is depleted. we are going to build it will be a thing of beauty. [cheers] we will get other countries and the hell out of isis, believe me. we are going to take care of our wonderful veterans that are t

anna: let's start the program over in china, with breaking news coming to us. unker and donald about theng eu-china conversation that is taking place in beijing. they are holding this joint press conference, and we will be hearing from donald tusk, talking about the south china sea at the moment, a topical geopolitical concern. we're hearing from donald tusk, who says the eu will continue to speak out on upholding international law. this ruling, he says, will be positive for resolving the dispute. the eu council president speaking in beijing. more commentary around the geopolitics. earlier we heard from jean-claude yunker about the access chinese have to europe and vice versa, making sure it is equal. manus: breaking news on burberry. they've had a management reshuffle, christopher bailey stepping to the left-hand side as the head of creative. first-quarter sales between hundred 23 million pounds. dropped by 3%; the estimate was a drop of 5%. saunderlining retail sales came in s five. they were looking for a drop of 4%, so it being on that. burberry is a strong

china sea. beijing has built artificial islands there. >> translator: muscle flexing does not reflect the country's strength and cannot be usedo threaten others. >> the president also said china will never tolerate any activities aimed at an independent taiwan. >>> in other news, tax officials in japan say the country's average land price has risen for the first time in eight years. analysts attribute the increase to brisk spending by foreign visitors in both major cities and provincial areas. th its list of land price assessments as of january 1st. the prices are used to calculate inheritance and gift taxes. the list shows the national average was up 0.2% from a year earlier. that's the first uptick since the 2008 global financial crisis. 14 of the nation's 47 prefectures logged year-on-year rises. tokyo's ginza shopping district maintained its record for japan's most expensive land plot for the 31st consecutive year. the price per square meter shot up nearly 19% to about $310,000. a spot in central osaka in the country's west was priced at almost $100,000, up more than 20%. >>> in just over a week people in japan will go to

these people, nine of them all -- i know them all, would love to represent us against china, against inst mexico, where they are killing us at the border. they are killing us in trade. deficita massive trade with mexico, not including the drugs that go back and forth by the billions of dollars. greatest business people in the world and they would do it for nothing. they feel crazy, they feel so angry, they cannot believe the deals that are made. we can do things that have never been done before. one of the reporters asked me a couple weeks ago, mr. trump do you believe in free trade? i said yes. i believe in free trade, i believe in fair trade, i believe in 10 other forms of trade but my deal is that i do not want labels. make great deals with individual countries for our country so that we create jobs and we take in money. i want great deals. that's what i want and that's what we will have. free trade, interesting. free trade is wonderful but to have free trade we need smart people on our side. or we use people that is totally controlled by lobbyists and special interests. is bought

japan is going well for us. china, the market's still growing.quite as rapidly as it was but people are traveling in increasing numbers from china. and in australia and new zealand, there's a lot more competition this year than there was last year directly related to north america and getting people out of the house and on to airplanes. >> mark, is hawaii benefiting as vacation destination with the rise and spread of zika across the caribbean and south america and mexico all traditional favorites of vacationers for during summertime? >> it's a little hard to discern. certainly, and, you know, the only information is anecdotal information. as i mentioned at the outset, demand is strong for hawaiian vacation from all of our geographies and may be fears of zika elsewhere playing into that but it's not discernible. >> the stock is up 7.5%. mark, thank you for joining us to talk about the results. the ceo of hawaiian airlines. let's go back to sue herrera with more breaking news on the shooting in germany. sue? >> we are quoting various german media w

. >> anchor: now he's saying that he was joking when he to suggest that russia use hillary clinton email.reporters china or russia could get access to clinton's emails he wanted to see them. he said he wanted to work with russia to ght is. along with russia. and then we say let's go get isis. let's go get isis. let's go get isis right now. let's knock them out. >> anchor: saying trump wasn't inviting a cyber attack from russia. 7 news is your political news for the race for the white house. >> anchor: also on 7 the somerville police union standing together. union to take down a black lives matter sign hanging at city hall. this banner back lash is getting all kinds of attention. brandon gunnoe live in somerville with the latest on what is going on there. any decisions. >> reporter: no decision yet. it's getting more than attention. it's dividing this police department. what i mean by that this chief of police in somerville supports this black lives matter sign. union said after protesters started to target and kill police this sign needs to come down. holding up cops lives matter. members of the police

us buying a mainland is much better. yvonne: stick around, we will talk more about china in our next segment. stick with us. is is bloomberg. ♪ yvonne: welcome back. let's continue our conversation with ronnie chang in the hong kong studio. let's focus on china a little bit. we saw retail sales fly -- slide quite a bit. how are you coping with the slowdown when it comes to luxury sales and how consumers are changing their behaviors? you think the market still has room to bottom out? ronnie: i don't see the market picking up any time soon. i just don't see the impetus that will cause the luxury sector to go back up. the overall general consumption is ok. part is stillxury rather slow and that is what we specialize in. we still have growth of 2% overall. the only thing china can rely on his china. what do you mean by that? ronnie: europe is not doing that well. the u.k. is uncertain, the eu is uncertain. france is not optimistic. america is good but america is now buying america. japan is going nowhere so who can china rely on? china. yvonne: you have actually lowered the rest of some of your new tenants in th

china. that is next. check us out on radio.an hear a whole lot more on the radio in boston, new york, d.c., san francisco and anywhere with the bloomberg radio app, bloomberg.com, sirius xm satellite station number 119. this is bloomberg. ♪ cory: welcome back to the "best of bloomberg west." i'm cory johnson in for emily chang. this week, we kicked off the new segment called series a, themes of tech investing. we launched a conversation about china. china have amassed the world's largest arsenal of venture funds ready to be deployed in a market that is complex, fast-moving and often elusive to international investors. david chow and hans tung joined us to help illuminate the inner workings of china tech. talk to me about what we're seeing today in terms of investable product. >> first of all, they are two worlds when it comes to public companies in china. the ones that they go public on the u.s. exchanges, like the new york stock exchange and nasdaq. and there is a whole separate ecosystem around a domestic companies they go pu

us? >> china has a huge opportunity that we can take advantage of. billion people -- >> you haven't answered. have we been taken advantage of in the past? >> i do not think we've gone to china with the capabilities, knowledge, and wisdom that we need and china needs so that we can boom in that relationship. i do not think that the advice we have been giving the chinese the last 15 years has been good for them or good for us. so if your point is, we in china could be both remarkably better off. could the u.s. be remarkably better off with an understanding with china, absolutely. >> qualified success the way it was written? >> so the relationship between canada, mexico, and the u.s. has been a boom for canada, mexico, and the u.s. >> certain people have been hurt. we're waiting for them to be unhurt, i guess. >> there are no questions that economics deals in aggregates. there are no questions there are individual winners and losers. but we want a pie to be bigger, not smaller. and with a bigger pie, we will then have the wealth, the capability, and the

step up cooperation with countries that were in a position to uncover intelligence that will be useful to china in dealing with any potential internal threats that were connected to that. but china tends to be critical of intervention in other countries and issues and while china is giving a lot of attention to try to strengthen its ties in the middle east, it's not yet in a position of wanting to actually commit chinese forces to intervening in those areas. >> okay. we pick up a few questions. and a special question -- raise your hand, yes. thank you very much. i'm with the national -- research. my question about the initiative and the integration with the your asia economic union which you mentioned earlier. it seems it's progressing slowly, as mentioned. can you talk about some areas of success that has been in this area whether that's in russia or in other countries in central asia? >> second. yea yeah. >> greg tillman arms control association. one aspect of the triangle between china and the u.s. and russia is each of these countries can annihilate the other two countries with nuclear weap

china in september. betty: one down possibly 11 more to go. thank you so much. joining us live from sydney. t china's property prices, it will give us indication on the health of the economy, when they come out and a couple of hours. the latest data shows growth studying on the back of an epic borrowing binge. let's bring in the executive editor for economic data. this is not a good sign. us, else can the data tell or what can it tell us? reporter: we had a lot of data of china out of friday. we did not just get aggregate financing. we got industrial production, retail sales. retail sales were ok. overall gdp was a touch of better than forecast. there is this sense that while china's growth has held off, it has largely, not entirely, but largely been financed by borrowing. yvonne: that does not seem like it could stop anytime soon. as that he and she goes, is that good enough for china? -- as study as she goes for china -- steady as she goes? dan: let's go back to january and february when the dominant commentary was there is some sort of apocalyptic hard landing coming for china. whatever t

. >> they've been saying listen to us, china is coming back and we're going to do the numbers and no one believed and then whoa, they did it. intel was a very tough call. one of those calls where i said -- >> we're actually getting ahead of ourselves. >> really? >> going to go over qualcomm and intel. finish with tesla before we hit a break. this guy i have to give him credit. he puts it out there. somebody, we need somebody with big, bold vision. part two, create stunning solar roofs with seamlessly integrated battery storage, expand the vehicle line to address all major segments develop self-driving capability that's ten times safer, and enable your car to make money for you when you're not using it. >> what can i say when i read it i'm not joking around, i said all of this is what i want, maybe he can pull it off. >> at least it's refreshing to see somebody say it. >> he's making the car. >> he's sending rockets to space. >> what jay leno said, [ inaudible ]. >> i don't like his financials, okay. >> and you don't like it when he says you're a simulation, but buy yonts -- beyond th

it's very clear china has concerns that were adversely affected by having a precedent of using a referendum to separate a -- essentially to destroy the territorial integrity of the country that russia formally recognized the territorial integrity of. china has completed the unification process. it's sensitive about these factors. it's a factor we haven't mentioned. that the areas where china needs action. the united states is a more important player than russia. in other words a relationship with russia is not going to solve the taiwan problem in a way that beijing would do favorably. and china is behaving in the south china sea in a way that russia cannot be entirely supportive of because russia wants that good relationship. let's not forget that the vietnamese border clash in 1979 was a function of the vietnamese having thrown out the china-leaning in cambodia and substituted vietnamese leading. and the fact the soviet union concluded a defense agreement thought was a threat to china's interest and he wanted to teach vietnam a lesson. so it was the closeness of the vietnamese -- of the ru

jonathan oh joins us with the latest on the typhoon which is nearing china. jonathan? >> hello. we are continuing to monitor the system as it continues to get ever so close to the southeheastern coast of china. you may notice that this storm still has its impact and grip over taiwan in the process as it slowly moves to the north and west. i wanted to show you some pictures to give you an idea of how serious the damage was. you notice the trees that were leaning to the side but also this car that has flipped over due to the powerful gusts that ran into the area, another car turned on its side. and this system still has a lot of strength with it. it is a bit weaker from earlier today. it is no longer a violent typhoon. it is a strong typhoon moving to the west/northwest. wind speeds at 144, gusting to 198. it's getting a lot of resistance from the mountain terrain over taiwan. nevertheless, it is continuing to move with a lot of moisture with it. as we go forward in time, we're going to see it approach the yangtze river basin. areas there have been drenched with a lot of moisture

china's debt levels. anna: thank you very much. simon, give us your thoughts on china at the moment.o you think the situation has stabilized because of monetary and fiscal support? simon: on the face of it yes. that is taken place, is at a state level rather than private level. i think that remains an issue. fascinating,t is compared to 11 months ago, a great concern in financial markets. vicks went up to high level. you saw a huge strain on fx reserves. is0 billion read china devaluing its currency. that is having no negative impacts. without actually having to do it with reserve. manus: the reserves actually balanced a little bit. one of the things we have is talking about the chinese stock market before 5 billion was knocked off. we are moving to this, overbought. the rsi. i want to take you back to february. this is where the markets have ome sense of --a we have these equity markets, a rally built on not the best of foundations. >> you can make this argument. it is about easy money. either aing to get cheap currency or low interest rates. are we overbought right now? compared to

it will only be used to counter nuclear and missile threats from north korea. >> but china doesn't buy that and has issued a statement saying the deployment will not help realize the denuclearization of the korean peninsula. the statement says the plan would go against efforts to resolve the issue through dialogue. china has repeatedly said that the system's advanced radar could be used to monitor the chinese military. japan has welcomed the agreement between the u.s. and south korea. >> translator: an advance in u.s./south korean cooperation will contribute to regional peace and stability. we endorse their decision. >> an expert on international security, yoichi kato, spoke with nhk, to give his analysis. >> the statement by the united states dod says, talks about the recent intermediate-range ballistic missile, namely it's musudan, highlight the grave threat that north korea poses to the security and stability of the rok and the entire asia-pacific region. so i think the recent intensification of missile launch along with the recent nuclear tests by north korea is certainly the reaso

if you look what we make now, it's very little because they've de valle used not only china. they make it impossible for companies to compete. any time i make a speech i say mai tais aren't made here. you can't buy product here. we have been outplayed by all of these countries that have just taken us to lunch because we're a bunch of babies we have people who don't know what they're doing. >> yesterday also the big news, of course, director comey not recommending criminal charges for hillary clinton's use of a private e-mail server while she was secretary of state and you have been saying all along the system is rigged. >> the system is rigged. she should have been treated harshly like general faye those who were treated honestly. it's nothing. look what they did and she did and she was so much worse the abuse ore f the system. the whole thing with the server and cleaning off 30,000. 30,000 tweets. nobody's ever heard of a thing like that. it's just like her husband having the meeting with her attorney general. give me a break. i've been on tarmacs all my life, kimberly. it d

the china used at the table was found throughout the house. for almost 200 years the family lived at tudor place they literally lived among these washington objects. when a politician from massachusetts visited in 1813 martha peter presented him with george washington's gorgette. it is visible in the portrait depicting washington in his uniform as a colonel in the virginia regiment. martha noted she received it upon washington's death in 1799 and mr. quincy honored to receive such a gift asked martha's approval to present it to the benevolent society in her honor which de. after the society ceased to exist it came back into his ownership and can be found in the collection of the massachusetts historical society representing one of the few washington objects that left the peter family in the 19th century. remember that i mentioned thomas and martha peter were ardent federalists. they named their three daughters, columbia, and britainia. when harvard professor visited tudor place he noted in his diary the peters were of the boston stamp in polit

china and other countries are using unfair trade practices to tilt the playing field against american workers and businesses. when they dump cheap products in our market, subsidized, state-owned enterprises devalue currencies and discriminate against american companies, our middle class pays the price. that has to stop. democrats will fight to use all our trade enforcement tools to hold china and other trading and all accountable, countries must be held accountable when they manipulate their currencies to gain a competitive advantage. while we believe that openness to the world economy is an important source of american leadership and dynamism, we will oppose trade agreements that do not support good american jobs, raise wages, and improve our national security. we believe any new trade agreements must include strong and enforceable labor and environmental standards in their with streamlined and effective enforcement mechanisms. they should crack down on the on air and illegal subsidies other countries grant their businesses at the expense of ours. they should promote innovation and s

used to child safety gates. do they have the same standards in china that we are so used to? >> that's exactly the question.ocially, as well, do these people take the same steps in other countries? we don't know. in this case let's just be happy the child is fine. >> never in my wildest dreams think i would have such an oral fixation for the licking guy. >> i was like, whoa. >> i am fascinated by the licking guy. you guys know that. here is his latest two dramatic episodes. you may have noticed this massive building about a half mile long. the sketchers factory. but that's where the licking guy is headed. here he is. driving up to the factory. and of course, the building with andrew. >> he's well prepared -- >> he waits for a moment when somebody comes out of one of the gates so he can sneak right in oop even past the big sign that says border patrol and security. he's like, what? more cameras keeping an eye on our friend here. >> you must be salivating at the opportunity. >> with all the stealth of a sledge hammer in a china shop here he goes. >> the sweet satisfaction. >> oh. but still so fascinating and

flow of consumers is not as good as it used to be. in chinaet is developing and i think we can capitalize on that. it is a of this that the chinese have more incentive to buy in china because the price is competitive in china, stores are getting nicer, new malls. the government wants to make sure that the chinese buy in china, so china is growing. >> are you seeing any positive impact from the rebound and oil helping middle eastern clients? >> it is a tough question. i did not see when the price dropped. we did not see any adverse effects. i would imagine that they are used to cycles, and for us, we invested there. it is a market or markets that are quite important for us and we have great products for them, so we have a pretty good time there. rishaad: chief executive of piaget. next, hong kong stocks in a bull market. how long will that last? ♪ theaad: a quick check of latest business flash headlines. samsung electronics buying a d worth $450 million in a bid to bolster semiconductor business. buffett backed company said it would use the pro

china. a lot of former google and microsoft folks have it in their dna to have a shot at becoming more global. both of usnvesting in a company. it is a new app. cory: this is a china-based thing? >> it is based in shanghai and 10% of the team is in san francisco. cory: my daughter's are all over this app. they love this area -- this. >> it originated in china and is on top of the u.s. charts. it was hard to imagine five years, 10 years ago. cory: coming up, the u.k. struggles to make sense of brexit. what the vote means for venture investors. we hear from one of europe's preeminent funds. ♪ cory: global markets try to recover from the shock of brexit, ventures just want to get back to business as usual. they backed silicon valley's like facebook and -- the headquarters is in london and works throughout the eu. the san francisco outpost is a few blocks are here. we set them at their london headquarters to talk about brexit. >> it's been a big shock to everybody. it has created a lot of conversation on a daily basis. everyone talks about brexit. there is no denying there will be impact. the greatest one of

it is very clear china has concerns that were adversely affected by having a precedent of using a referendumto separate -- essentially to destroy the territorial integrity of a country russia had formally recognized the territorial integrity before. the areas where china needs action, the united states is a more important player than russia is. in other words, a relationship with russia is not going to solve the taiwan problem in a way beijing would look favorable on and china's behaving in the south china sea in a way that russia cannot be entirely supportive of because russia wants to have that good relationship with vietnam. let's not forget the border crash in 1979 was a function of the japanese having thrown out the china-leaning in cambodia and the fact that vietnam and the soviet union had concluded a defense agreement that jinping thought was a threat to china's interest and wanted to teach vietnam a lesson. it was the closeness of the soviet-japanese relationship at the time that was a contributing factor between the border crash between china and vietnam. you have to bear in mind t