easily, whatg very was told to me a half an hour ago. -- denial was only a did now build a very firm denial. north korea is coming along very well. i think a lot of good things will happen. in three or things four months that no one has done in 70 years. i think north korea's kamal on very well. i will see you in florida. thank you. [inaudible] >> she did a great job on television the other night. she did a great job. [inaudible] >> health and human services secretary alex a czar will speak at a form on rising prescription drug prices. because that life in the national academy of sciences starting at 4 p.m. eastern here on c-span. public encouragement david of brad will debate his democratic rival. a former cia officer in virginia's seventh district u.s. house race. the cover starts at 7:30 p.m. eastern. candidates from arizona's u.s. senate seat, debates republican congresswoman rep. mcsally:. republican senator jeff flake is retiring. what coverage tonight on 90's to. your primary source for camping 2018. that's campaign 2018. >> pc fan buses traveling across the country on our 50

whatg up next, look at could be the next titanic of chinese debt.is bloomberg. ♪ you're watching daybreak australia. let's get more on china now. there are problems piling up increasingly at home. local governments may have racked up debt. suggesting further defaults may be just around the corner. our guest joins us from hong kong. these are official numbers that we do know. this is in the gtv library. we talk a lot about the chinese debt gdp ratio. corporate debt makes up the lion's share. government debt is a small part. much ofook at this, how balance sheet liabilities are we talking about? aboutsue we are talking is financing vehicles. >> the actual number is difficult to put a handle on. that is what the chinese government is trying to figure out is how much of the debt in various forms are at the local government anything vehicle levels. large ande number is the issue will be as the chinese thernment tries to address financial leverage within the corporate sector, how does it fair? giving the importance of developing the infrastructure in chin

markets, whatging is the biggest risk to a global economy right now.ubjectlobal economy is to geopolitical risk, including the trade area. when you have skirmishes in the industrial world, there is no single area. europe has a problem. the u.s. has a problem. brexit has a problem. , while itas a whole is performing much better than it has during the past decade, the emerging markets on the receiving side. the shockt prevent that is emanated from the rest of the world. they can strengthen their own defenses. we learned is number one, strengthen your financial system. number two, make sure you have balance policies and number three, make sure you have functioning, flexible exchange rates. those countries have those three items and perform much better in era.ost crisis error -- the chairman of jpmorgan international. a lot more coming today. send it back to you for now. shery: thank you so much. plenty more to come on daybreak asia. this is bloomberg. ♪ shery: this is "daybreak: asia." haidi: let's get a quick check of the business flash headlines. 7% in

. >> absolutely, and i don't whatg on on stock market has to do with midterm elections but a host ofissues that markets are grappling. only what's the most important one? >> most important one is sign of economic slowdown -- around the world that the beginning of something. and will the credit market stay stable as long as the credit market stay stable we're okay and if they deteriorate out of fear of world slowdown and raising rates it would escalate. >> the shake you know that we're seeing in the markets has more to do with these factors than it does with people saying boy democrats going to take the house. >> i think so. and in that way. look, i think it is an issue some people worry what would the democrats do would they actually make good on their -- economic programs which i think would be store. >> i would say -- if we didn't have the tariff worries pane i think the economy qowb even stronger than it is today. >> liz. >> it is interesting that president trump has relief a lot of uncertainty to deregulation so forth. but added it on this other front. i think that the fed is a c