important is when you look at this issue is, when will xi jinping back down?stion how much political pressure president trump will put on the chinese economy with tariffs or other things. ashley: is he doing enough in your mind? >> doing what is necessary and politically acceptable. but clearly chinese, xi jinping does not' to back down, he knows if he backs down he will lose not only power by he could lose more. he is all in, this is a struggle. ashley: you said, not just the united states, but the global community, losing patience with china. interesting beijing, i read here, trying without success to recruit france, germany, japan and other governments as allies against president trump, saying no way, they agree with the united states. contention that china is sheeting steal -- cheating and steals to boost its own economy. >> sure, the past year, policy on part of beijing to divide brussels from washington worked, it not working this year, they see president trump is providing leadership, everyone wanted to do something, but nobody did until this year, trum

president xi made a veiled swipe at his u.s.erpart. >> in a world of deepening economic cooperation, practices like the law of the jungle and winner takes all only represents a dead-end. and inclusive growth for all is surely the right way forward. anna: president xi speaking at that event in china. joining us now,, megan green global chief economist. good morning to you. your view of the world? last week we were caught up in the euphoria of the excitement. what if we could see a deal between the china and the u.s.? we head into the midterms with uncertainty. this week starts differently, a negative vibe in the market. what is your view? megan: in terms of trade, if you look at opinion polls, the administration's position on china and trade has been popular amongst the republican base. unless the market corrects will republicans take, i don't see why it would back off his position. i'm less hopeful about where the markets are. i think it's about who is going to be the global leader in terms of artificial intelligence, quantum co

and will he bring this up with president xi? and will the release of the families be part of the trade deal? john: i've talked about people wrongfully held with him on a range of subjects. ypt to get into what his reaction was, i don't think those should be public. this is a matter of real concern to us. i think given that the range of issues president xi and president trump will be covering, it's entirely possible that would come up. >> back to the meeting with president putin and president trump, will president trump condemn russia's aggression in ukraine? does the u.s. consider it an act of war? and has 4e spoken to putin or por sean coe about what happened? john: ambassador haley spoke for the united states yesterday on the -- at the u.n. security council and we'll stand on that. >> i have a question about -- you mentioned the turkish leader who has been critical of the u.s. position. can you condition firm that will affect the relations with the u.s. ally. and to follow up, the audio intelligence of the killing of khashoggi

well, look, president xi jinping is throwing everything at it. his baby conceived in may last year. shanghai is hosting companies in the number of 3000 representatives from 300 governments, they shut down the city for three days to focus resources on it. the scale is huge as always when it. the scale is huge as always when it comes to events like this in china. there is already talk of municipal governments coming together, given quotas of deals that have to be done. they will hit a number by the end of the week and one senior european diplomat says he expects china to unveil a total of import deals in the range of $150 billion us. it is important for president xijinping in billion us. it is important for president xi jinping in terms of dealing with the major bugbear for donald trump and that is imports and a lack thereof as the president thinks from the us to china. but there are more structural problems that the americans want the chinese to deal with and there is no sense they will be dealt with here, accusations of theft, theft of it, genera

trump and xi will meet at dinner. trump surprised aides with a a fewoxi -- a call to xi weeks ago.are still divided on matters. trump is hopeful on china talks but is ready with more tariffs. still ahead, tom perez will be joining. this is bloomberg. ♪ an interesting conversation coming your way. dnc chair tom perez is with kevin cirilli. kevin: thank you. chairman perez, thank you for being here. have plantaying they closings what you make of this? tom: this is irresponsible. i can't help but note the fact that they got $157 million tax cut from the reckless tax bill of last year that president trump said was going to be a boon for workers. it has not been a boon for workers. workers have been taking it on the short end once again. before the 2016 election, this president promised in michigan that you will not see one plant closing if i'm elected president. i promise. that is what he said. we have the carrier plant, and missouri, the harley plant, we have the chevy plant. again, we need to put workers first. not the tax cuts of four large corporations. front let's pull up the page

the much discussed meeting, it's going to be a dinner meeting between president trump and president xi, and representatives from both sides. it will be bilateral. i want to just mention what the president told us a short while ago, and that is in his view, there's a good possibility that a deal can be made than he is open to that. he is open to that. having said that, some caveats, as always. certain conditions have to be met with respect to fairness and reciprocity as we have said many times. for example, issues of intellectual property theft must be solved. forced technology transfers must be solved. significant tariffs and non-tariff barriers must be solved. issues of ownership have to be solved. the president will probably reiterate his view. we want a world ideally of zero tariffs, zero non-tariff barriers and zero subsidies. now, whether they get through all that remains to be seen but that's the president's point of view, as i said just a little while ago. the u.s. is coming to the summit in very good shape. our economy is quite strong, it's growing at 3% over the past year. sec

he will not be very trustful of vague promises from president xi.his kind of debate as i say saturday night or during the day on sunday, that is when president trump will listen to his difficult advisors with their thoughtful differences, make announcement. there are several options he can go for but one of them is going to be starting the clock on full tariffs. that is 25% of all chinese exports. from president trump's point of view, that will bring him, charles, $100 billion a year, 25% of 500 billion. he is talked about that several times already. he likes the present deal because the revenues that the tariffs bring in. on the other side they're trying to calculate effect on our markets, effect on global growth. this is what you might call a command decision by the president. it is important his whole team appears to hear xi's presentation. by the way we kept it secret. the trump administration has not released 142 items china offered in writing. last time in may when the same sort of thing happened in beijing the chinese leaked the two side's po

what does president xi bring to the table? for, particularly investors, businesses and of course eve ryo ne investors, businesses and of course everyone is definitely looking forward to this bilateral meeting between the two leaders if a deal will indeed go through. because it's not only about trade, but there are also other issues that the americans wa nt to also other issues that the americans want to basically discuss with the chinese, particularly intellectual theft, immigration, opioids and north korea. 0h, theft, immigration, opioids and north korea. oh, you see. it's a conference of agenda and every time the us and china sit down they have to talk about the full extent of the relationship and i'm sure taiwan will be raised by president xi as well —— oh, yeah. will be raised by president xi as well -- oh, yeah. is using ping, who has just arrived in well -- oh, yeah. is using ping, who hasjust arrived in buenos well -- oh, yeah. is using ping, who has just arrived in buenos aires, what will he want to discuss with presid

this is a dynamic that xi jinping talks into. they are going to respond to this. , i think at the moment he doesn't look super secure. it is not like he is better than he was six months ago. the american pushback has unsettled him. tom: thank you so much. thrilled to have kerry with us with perspective on this important dinner. it is great to have you guys here wrapped around all of this international relations. how is pimco changed its definition of changes for investment given this news flow? is that the tried-and-true institutional three-year or five-year view, or is there a change? gene: i think there has been very little change. like most investors, we are trying to weed through the political noise and decide what is signal and what is noise. a lot of this has been noise. i think the set up to this g20 is one where, a little bit like the fed, we have created a low bar for success. the market is set up to rally on something that is probably pretty marginal and not really game changing. we continue to look at the same old rang

surely thatis resident xi into the table? particularly businesses, and investors, and of course everyone is looking forward to this bilateral meeting between the two leaders if the deal will indeed go through because it is not only about trade but there are also other issues that the americans want to basically discuss with the chinese, particularly intellectual theft, and immigration, opioids and north korea. yeah, it is a comprehensive agenda. every time the us and china sit down at the table, they have to talk about the full extent of the relationship and added to that, i am sure xijinping will relationship and added to that, i am sure xi jinping will raise relationship and added to that, i am sure xijinping will raise his concerns about taiwan as well. and what about taiwan? what would xi jinping likely want to discuss with president trump? well, he will likely raise his concerns about us support for taiwan security. this is a ongoing conversation, the meat of this discussion is going to be about trade. during the asean a

president xi says he is optimistic.inks the economy will hit the targets that have been outlined by the central government. but he did talk about the pressures the economy is under, the external pressures and domestic ones, describing the economy as an ocean rather than a pond, saying it is national that -- it is natural that oceans would be bested by storms. he also talked about restoring the global trading rules. again, repeating these phrases we heard him say at devils two years -- at davos two years ago. we know the europeans are working with the chinese on that. there were other areas he touched on. whether or not this is going to come to the point where those officials in washington and brussels see this as another at addressing this is undecided. it looks unlikely at this stage. this is more about moving in a direction of openness, rather than a wholesale a bang. david: it is not a new story. were there new information we got? was there a specific timeline given for these reforms? no, there was no timeline. the o

jinping trump and xi say they are willing to meet at the g20 in argentina.an they allay the trade concerns? this is bloomberg. ♪ erg. ♪ manus: let's check the business flash headlines. plans to boost profit by $6.8 billion over the next eight years by streaming operations. bloomberg has learned the automaker will be spending more to develop and manufacture of electric cars, cut costs, increase the efficiency, and the try to make more money from new businesses such as digital offerings. united technology has cleared the final hurdle to complete a deal with rockwell collins. china has signed off on the $23 billion agreement reached more than a year ago. investors are concerned the trade dispute between the u.s. and china would hold up the approval and take over. it gives united technologies scale and negotiating power to deal with boeing and airbus. the cryptocurrency crash shows no signs of letting up. fell 25%berg index last week, the worst five-day stretch since crypto mania peaked in january. that coin is trading at just over $4200. that is your business f

the yuan is easing. -- president xi is using multilateral unions. from its biggest two-day rally in a decade. larry kudlow downplayed the potential for a quick deal. you also have the propensity for the fed that the data they got on friday, it looks like they could just check in the crawl on thursday. but these markets do not believe in the substance of what donald trump said on friday. . they want to do a deal. kudlow put the markers on that. i want to bring you that breaking news headline coming from iran. talksaid they are open to once trump respects commitments. this goes back to the difference the twin the two nations in -- the to white we have difference between the two nations in records to why we have establishments. and iran, they are saying we will become more self-sufficient. iran are open to trucks with -- open to talks with trump. that's mr. rouhani. let's get into these markets with more detail. we've got our bloomberg reporter standing by in mumbai. and in london, annmarie hordern standing by. equity markets in india. they are not cel

president xi will have the floor to discuss trade agreements amid rising tension between the world'snomies. 0ur asia business correspondent told me why china has invested so heavily in papua new guinea. that is one of the main key points and themes i think we will see play out over the next couple of days as president xi gets under way with his state visit here in papua new guinea. as you are saying china has really concentrated on this country in particular, but also around the pacific. it has spent hundreds of millions of dollars building things like roads, highways, many of the venues, rico, for the apec summit in papua new guinea have actually been bankrolled by beijing. you know, by far the australian investment in this place still outweighs china but there is a real sense that the kinds of things that beijing is building, infrastructure, is what papua new guinea really needs, that's what i have consistently heard from a lot of people i have been speaking to and look at how important the relationship is becoming between the two sides. 0n the eve of the state visit all of the nat

president xi and president trump will be here. he will have security operations.e closing streets, and they can subway service and closing off commuter rail. assure people to the of event will go smoothly. -- assure match people the event will go smoothly. the soccer match was city police. this will be overseen by national police. fans attacking the players but it will let be anything like that during the g20. we have to wait and see and see if buenos aires can keep it together. david: be safe. thank you. that is patrick gillespie. we want you to sign up for the balance of power newsletter. get the latest on global politics every day. chief up, david kelly, global strategist joins us for an interview and gives his market forecast for the next year at 1:30. bloomberg users can interact on gtv . live from new york, this is bloomberg. ♪ [ phone rings ] what?! ready for christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. an

president xi. a deal i believe. >> china is warning the global economy is facing the biggest change since the cold war. the vice president of china told the bloomberg new economy forum that beijing rejects such a mindset and called for changes in governments to stop the disruption. he added trade is the anchor of china's relations with the u.s. >> the world today faces many problems that require close cooperation between china and the u.s. it is our firm belief that both the china and u.s. would gain from cooperation and lose from confrontation. our relationships will have a direct impact on global stability and development. >> the lion airplane that crashed in indonesia last week had faulty air speed readings during its last four flights. investigators have searched the jet's flight data recorder and want boeing and u.s. aviation authorities to confirm the issue doesn't affect the global fleet. global news 24 hours a day on air and on twitter at tictoc powered by more than 2700 journalists and ana

president pence and president xi. what are our allies look for and how does that tee up this meeting between trump and xi at the g20, and what can we expect to come out of that meeting? >> the u.s. allies are looking for a continuing commitment. the united states withdrew from the trans-pacific trade agreement. that was misinterpreted as u.s. withdrawal early in the administration. but if you look at the president's trips to the region and president pence's trips to the region. showing up with economic development that's unlike the chinese does not trap people into a debt trap. we are trying to empower people, trade with people, and reform trade. so all of that is looking good. and vice president pence reasserted that at this trip. looking ahead down the road, where you have president trump and xi jinping. there is a lot of hype about a potential break through on trade. >> meanwhile kim jong-un isn't clinging to his hopes. not to mention north korea is an important trading partner with china. >> china always goes thro

you could see prime minister kuroda with president xi.e railway construction can be seen off the side of the ship -here. millions of dollars is definitely flowing into papa new guinea, as well as australian money. the area around for new guinea is a competitive zone for influence the between australia, u.s.,tween australia, the and china. we have news in the past 24 h memorandum of a signing between the papa new guinea government and oil giants, including exxon. we have peter with us. thanks so much. how does this mou resolve some of the first deal you had that started in 2014? successful, but there were complaints as well. now you are getting into the exxon operating downstream of popular -- papua lng. peter: this is the fiscal regime for the second png-lng project. it sets the fiscal terms. at other benefits to the country, such as domestic ,arket obligations petrochemicals, etc. the government wants to have more value stay-at-home. it is very important to have more energy into the burgeoning markets. but we also want to the local busin

won't it. >> it would be, i think the president has said he said he is ready i think that over time xi is becoming more and more ready as pressure increases in his own country,

xi xinping is talking to, i don't know who.has back to us. >> singaporean president or prime minister. stuart: that is right there. you will see at love interaction between the world leaders as they shuffle around to take their places around the great conference table. there i have not seen president trump talk to either putin or xi xinping or theresa may or angela merkel. i may have missed it. it may have been, may have missed it but i have not seen it thus far. what do you got to say? >> this is like a pre-dinner, right? everybody is networking minus the cocktails. i believe that i saw that putin was actually seated, his seat is next to the crown prince. >> correct. mbs. >> those will be shots of putin. he was last seen with mbs. so that shot will exist. i don't know if the table is set when it comes to being alphabetical which would explain that seating perhaps a little bit. but it is, i don't think mr. putin and the crown prince clearly are in their own isolated little bloc. >> putin is opportunist. if he sees any wedge bet

i haven't heard you say that the vice president is going to meet with president xi. should we expect the meeting of any kind, even with someone lower on the chain? >> no. enjoy it. , i'm in u.s. trade. kind of awkward. i was wondering, i guess, if you get from a broader view, if you take together the u.s. withdrawal from tpp and this new bilateral approach, and then coupled with the u.s. china trade conflict and i think what is seen by some as this desire by some factions to force companies to move out of china and break those supply chains without the tpp, which i guess was supposed to create a hub for supply chains. how do you see that affecting economic architecture of asia? and the political architecture? >> well, to the extent, it depends a little bit on how companies respond to what the president is trying to do. if you hypothesize, not everybody agrees with your analysis of what our policy is. i think you're right, but i need to say that not everybody agrees with that. whatet's hypothesize that we come of the united states government, is trying to do is encour

we saw president xi and prime minister trudeau come in.rump with the mexican president, as well as trudeau signed the trade deal. ,e turn to michael mckee bloombergs international policy correspondent. what do we have coming up next? in terms of nafta, the u.s. has to get it ratified, as do the other countries. the real question about what happens with the steel and aluminum tariffs, robert lighthizer saying a short time ago to reporters that they are going to talk about that next week, but the tariffs remain in place right now. justin trudeau noting in the signing ceremony, telling the u.s. president we need to do something about that. as far as the leaders going forward from this ceremony, they meet for a session where they sit around the table and talk about some of the major issues in front of them. various members will speak during that session. others will get up and walk out and hold side meetings, bilateral meetings with other members of the g20. donald trump, at some point, goes back to his hotel and has a couple of bilateral meet

richard: it depends on how the trump and president xi talks go.hink of we do get some thing where a trade deal looks like it doesn't happen it on his way to happening and i think we get the euro doing well and the chinese yuan doing well on the aussie dollar doing well. the dollar gets sold off a little bit because less haven demand or dollars. -- four dollars. for dollars. there's a bit of a relief rally takes place there. guy: what happens of the talks don't go anywhere? talk us through how that effects risk assets? richard: i think we get more of the same of what we have seen. equities will probably take that very, very badly. i think the havens will rally in the frankel rally and the yen will rally and i think the dollar will rally of the euro falls. all of these things we have seen as trade rhetoric and trade tensions have intensified, they continue and we see those moves carry on into next week. vonnie: theresa may and president donald trump are ratio a little chat as mac rate -- the argentinian president waits to make his opening remarks. w

the fight of the century between donald trump and xi xinping.ow is the fight of the century going to play out? >> i don't know. most people couple days ago saying there would be a deal. today people are saying maybe not a deal but i think there shouldn't be one. the and the reason a lot of manufacturers are looking at the g20. if they think there will be some sort of empty deal with president trump, they will keep their manufacturing in china. but, if they think that this isn't going to be settled soon, they will move supply chains out of the country. that is a good thing. unfortunately everything else we tried with china, negotiations, wto, it is all failed over the course of decade. so the best thing right now is disengagement. charles: i read a lot of ceo's already even begun to do that. i think maybe that was going to happen anyway. china, their average income is starting to go up. they're living, economy itself, want it to be more domestically driven, export driven, maybe that was going to happen sooner, i mean later rather than sooner but

i think a trade war is good for xi right now politically. i think that having the united states have an aggressive posture toward china allows them to create a dynamic that allows them to get his own way in these things he wants to do, with regards to how he wants to reform and change china. let's wait and see how these talks come out. turner has to agree to everything and it will be interesting to see. i was going to bring up a chart, but that is much more interesting. your personal view of how this could affect business. the prevailing narrative, at least when you talk to people in the white house, is that the trade war is going to hurt china a lot more than it hurts the u.s. in what ways to see being able to withstand that pain and to use it to his advantage? ed: that view would represent a view that only economics matters. in china, it is never only economics. politics is always the most important issue to be addressed. if of the of short-term economic pain, which they would suffer from certainly, if that would play into xi's domestic ag

we look ahead to trump meeting xi. that is the big theme in markets.ater on european equities like in asia, waiting for guidance of some kind. let's check the gains. more volatile names we often talk about on the mov function. news flownside, some surrounding businesses that have been on the move. downgrade, down by 4.7% or so this morning. the health care business is the biggest fallers. updatelet's get an on the bloomberg first word news with debra mao. a: president donald trump says he is very close to doing something with china ahead of a planned meeting with president xi jinping at the g20 summit this weekend. officials from both countries have been working for weeks on the contours of a possible deal to be announced following the leaders' dinner in altice --buenos aires. without a deal, china faces $250 billion worth of export duties. forstigating a reason cutting theresa may's visit short. investigators are looking at causes following a german media report the incident is being examined as a possible criminal act. a serious electrical malfunctio

but we'll be meeting with president xi in a little while.he most part tomorrow i would say would be our big meeting. but in the meantime our people are working, our staff is working, we have a lot of talented people working. larry kudlow's representatives are dealing with them on a constant basis. liz: got to be a careful here. a lot of president's supporters who are hawkish on this, say don't ease up on the chinese until you see real remedies. now i'm not sure they're going to have real remedies come out of this meeting tomorrow night but of course president trump has a busy day leading up to it. he is meeting with angela merkel of germany. no doubt tariffs on foreign automakers, daimler-benz, bmw, vw, that is certainly something she wants to discuss with him. we'll watch all of this, and the big moment tomorrow, early earning here. two hours ahead of eastern time. connell: see if they come out with a good feeling. use robert lighthizer's term. liz claman. thank you. a we have the international center of trade and economics to follow up on

white house economic adviser navarro will be with xi.auren: blake berman in buenos aires with the details. >> one meeting is off while another gets expanded. president trump will not have sit-down with russian president vladimir putin after being briefed by john kelly, secretary of state mike pompeo and the national security adviser john bolton, the president canceled the meeting, one that's most certainly on is the dinner saturday night with president xi jinping of china, president trump setting that up meeting by casting doubts that any sort of trade breakthrough might occur. >> i think we are very close to doing something with china but i don't know that i want to do it because what we have right now is billions and billions of dollars coming into the united states in the form of tariffs or taxes so i really don't know but i will tell you that i think china wants to make a deal, i'm hoping to making a deal but frankly i like the deal we have right now. >> later today in buenos aires the president will sign the usmca trade deal next th

there will be a dinner with president xi on saturday.t you'll have a deal on saturday. you may have principles that the two leaders can come to some sort of an agreement. the fact peter navarro will be there shows the americans will hold a tough line in the chinese have to be thinking about this because in january we will see them go from 10% to 25%. there could be something coming out of it is obviously a high level in this tax will have to work out the details if xi and trying to come to some sort of agreement. neil: do you think they will? >> i think it's possible that the chinese are also trying to see who blinks first. i'm not optimistic at this point that there's people who know better. >> you're way too modest. always enjoy chatting. bush 43 deputy defense secretary over at the heritage foundation right now. considering technological advance medical powerhouse on the planet. the life expect the four americans falling again. this keeps happening. why? after this. place, the xfinity xfi gateway. and it's strengthened by xfi pods, wh

this is the baby of president xi. so curious about the town he will strike -- the tone he will strike today. of: that is where the focus attention will be. there is a difference between what we expect and what those in the u.s., also those in the e.u. want to hear from president xi, and what we expect to hear is a recap of the moves around increasing access, market access and lowering trade barriers weather in the financial sector or the autos sector. they could be a recap of the moves to cut import taxes as well and reiteration of the commitments to support the multilateral trading session, -- system and globalization. we look at what is wanted by those looking ahead to this speech. i have been speaking to those in the e.u. and those from the presidents of commerce, and both officials have said they want to see a commitment by president xi to tackle the core issues that are fundamentally at the heart of this dispute between washington and beijing but also concerns far beyond the halls of power. tech transfer, made in

ay: president xi promised further cut tariffs on imports and open china's market.ng us is bloomberg's shaun donovan. sound like a man expecting a deal to get done? >> he is dancing the final line he is been dancing all along. he does not want to be seen to be caving to the pressure from the u.s. at home. at the same time, in that speech beyond the law of the jungle, though he did not mention the u.s. or donald trump, it was clearly aimed to this way. there was some other stuff, pledges to reduce tariffs and open up markets. this was a long speech that had something for everyone, but clearly everyone focusing on that barb. vonnie: you know china has an end goal. what is it? thatis a huge superpower is barreling its way to 2025 and 2030 and it does not matter what the u.s. does, does it? guy: -- shawn: that is a great point. in any of these negotiations, the priority for beijing appears to be to not get derailed and .ot get thrown off this track this made in china 2025 track which is tried to lead the world , or get into a top position on areas like robotics and arti

as president xi today making threats to the military commanders.e united states navy talking about further actions to keep freedom of navigation operations going in the south china sea. where is that headed? >> well, i think both sides, both beijing and president trump are playing to the same audience. it's the ten nations who belong to something called osion for short, the association of southeast nations. these are the swing votes. they are not sure of who will be the future power in the world. us or them. president xi says things every now and then to show his toughness. the same time, the united states runs the patrols through disputed chinese territory. i think that is what we are seeing more and more of. the shadow boxing going on. i don't think war is going to break out in the near future. >> lou: i hope not. >> there is an audience to play to. >> i'd tell you first, lou. >> lou: i appreciate that. any heads up would be appreciated by the audience, which i will promise to alert. >> no war. >> lou: straightaway. >> we're not even having a col

president trump arrives at the g20 summit at of his meeting with xi on saturday.g and welcome to bloomberg markets. this is the european open. i'm matt miller in berlin. let's look at where we are on individual stocks movers. the ams stock is up by 7.4%. technology is a flavor running through this. britvic is also up. seeing cash flow materially higher. basic resources doing quite well. let's go to the downside and see what moving there. do have some effects. some of the property and land real estate-based companies are there. we do see british land moving lower. land security moving lower. hammerson moving lower. daily mail just -- daily mail down by just under 10%. estate flavor to what is going on at the downside. we got a real disappointment out switzerland with their gdp contracting 0.2%. we were looking for growth of 0.4%. are getting swedish third-quarter gdp also contracting and the estimate there was also for growth. a couple of different economies where we see a contraction instead of growth. we saw that in germany as well. let's get the bloomberg first

the dinner with xi jinping and president trump or a portion of it, we believe most of this will takelace behind the scenes. you look at the hotels in the area around me in buenos aires, they're packed with diplomatic delegations from every country from around the world. across from my hotel room, in the room over is the secretary for singapore. so all of this stuff goes on behind the scenes here the question is whether the united states delegation and the chinese delegation can come to terms. the question is who will make up that united states delegation? there's been reports that peter navarro, the more hawkish trade aid at the white house was excluded from this trip. then reports recently that he might be coming. we'll have to look at air force one manifesto see if they're sending a hawkish delegation or a dellmaalmaking delegation. >> the good news for eamon is that it's spring thank you very much. >>> let's bring in ben white from politico. i reference the change of seasons there, heading into their summer i wonder if that's representative is this going to be -- is this meeting,

whether president xi xi will make announcement we will no longer steal from the united states. no.ut there will be a response. charles: they don't have to have majority of joint ventures and can open their markets up. early on in the skirmish they said they could do 70 billion more. they threw that out there as an olive branch. the stealing part, to your point, anyway we won't steal from you in broad daylight? >> i like that. >> first acknowledging there is a problem would be step one. they have resisted generally doing that but i would like to emphasize although xi xinping is dictator for leif he has other people in the country may have a different view. we saw this week the son of xiping said we need to have win-win. he was talking about foreign policy but acknowledged -- charles: have the world's reserve currency and supplant the u.s. they can't do this, you can't be a global citizen and we won't even talk about the million muslims they have in camps right now, you can't be a bad global citizen, hey we want to have the world's reserve currency. >> particularly so much of their e

he's expected to meet with xi jinping. those talks could be a big gamble, especially when it comes to a red hot part of china's economy, gambling. gaming revenues in macau topping 33 billion last year how does that compare? that compares to 26 billion for vegas. macau now far bigger than vegas. the question is this, will this trade turmoil impact the casino names? joining us is david katz from jeffries and also contessa brewer who covers the casino stocks for us. first to you, contessa, i know you have to run to do other things this is a big deal for gambling as well. there's a lot ri >> there's a lot riding on this. names like wynn, mgm, las vegas sands need to know they have some security, that their gaming license in macau, their concessions will be renewed. if the chinese have run out of goods that they can tariff from the united states, they start looking at qualitative measures. one concern is that they could look at those u.s. operators in macau. generally the consensus is they would not do that it would send a chil

xi will meet with president trump in buenos aires.r tariffs on chinese goods in the new year. lion air is rejecting a report that the plane that crashed into the java sea was not fit to fly. it says it was airworthy. report into the crash says a faulty sensor wasn't checked, even though pilots had warned of the danger. no one on board survived the crash on october 29. global news, 24 hours a day on air and @tic-toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: thank you. still ahead, fed chair jay powell dialing back expectations for rate hikes next year. we will ask why the fed is taking such a dovish turn. ramy: up next, will we see a trade truce at the g20 this week? we will see what's happening on the ground in buenos aires. this is bloomberg. ♪ welcome back. this is "daybreak: asia." i'm ramy inocencio in new york. haidi: i'm haidi stroud-watts in sydney. world leaders are arriving in argentina for the g20 summit with investors watching the discussions on trad

andlieve both president xi president trump are looking for a victory.ould not be surprised at the end of the weekend if the u.s. ad china did not announce concorde, that basically sat down and passed to help resolve the trade fiction. -- friction. i do not think much substance will come out of the meeting, but i think there will be a set of principles that will be established to start the process of bringing an end to the trade war. if we get that sort of event over the weekend, that should be good for risk assets next week's -- next week in u.s. stocks and global equities. haidi: this is the second to last trading month of the year. what are your expectations going into next year? volatility as we get closer to the end of this cycle? >> i think so. we are in the midst of a santa claus rally. stocks tend to rally going into christmas, especially when retail sales are very strong, which all indications are very strong in the u.s. market. so i think that will continue to push as higher next year. one thing i want to point out to , whileis that this rally

mexico canada trade deal what he expected could even come from the trump/xi get-together. here's his market-moving answer. quote, i would be very surprised if the dinner wasn't a success. i absolutely feel there will be positive feelings at the end of the dinner. i want to let you know, he kind of paused before saying the word feeling, which is a bit less definitive word than, say, agreement or deal. but what's really going to come out of buenos aries regarding china? president trump's trade war with china less than a year old, but the underlying problems are far older. our next guest knows all about that. t.j. rodgers, from cypress semiconductor joining us. thank you for being here. everyone is wondering what could even come out of tomorrow night's dinner? >> well, i think everybody is hoping that some sort of deal, freeze the escalation of the tariffs and we can start moving back toward life as normal. we all are free traders. we know that's best for both sides and everybody is hoping that can happen. i'm not so sure it will happen that way. liz: well, you have had your

will president trump and xi jinping make headway in brenna ares?uenos this is bloomberg. ♪ emily: leaders from the top 20 economies are meeting and when the saris -- bueno aries. names dominating the conversation. >> president trump. >> president trump. >> president xi. >> i am optimistic they will keep on talking. i'm not sure we will see much more than that. >> we will probably get some cease-fire deal. >> both sides need good news. >> i think you'll see catalyst for shares to rebound. very much a wildcard watching donald trump go into a meeting like this. emily: president trump has already imposed tariffs on an additional $250 billion worth of chinese goods this year. china responded with tariffs of its own. this week, the president floated further tariffs that could impact apple products including the iphone. eric is on the ground covering this meeting. eric, what are the real expectations for any progress between the u.s. and china as a result of this meeting between the two bank presidents -- two bank presidents -- two presidents. eric: it's

as investors get some mixed messages about the trade showdown between president trump and president xiwill it be the end of the trade war, or the start of a new escalation in hostilities? we start in the argentine capital buenos aires, where world leaders gathering for the 620 summit —— we start in the argentine capital buenos aires, where world leaders gathering for the 620 summit are being warned that ‘darker clouds are looming' over the global economy. the head of the international monetary fund, christine lagarde, says ‘significant risks are materializing' and is urging leaders to work together to head them off. the 620 group of developed and developing countries represent 85% of the world economy, and two thirds of the world's population. many of them are seeing slowing economic growth. two of the world's five biggest economies, japan and 6ermany,actually saw their economies shrink in the third quarter of this year. earlier this month the imf cut it's global growth forecast for next year and it says the picture has worsened since then. one of the big worries is this: the trade war

it is the trump and xi meeting that captures the world's attention.ht, you will have to wait until the summit is over. trump and putin, will they meet, will they talk about ukraine and geostrategic decisions to be made there? saudiad bin salman, the prince is the first of the g20 leaders to arrive here. it is a rehabilitation core we are being told that how will the g20 deal with him? --far, the only person who's who has said he will meet with him his vladimir putin. the last those two had met ahead of an opec meeting, they sent signals they would raise prices and cut production. the oil world is watching that meeting very closely. on top of that, the u.s.-mexico signing the nafta agreement and theresa may trying to reassure the g20 after the treasury reports that britain is not going to drag the rest of the world down with it if it has problems getting out of the european union. an agatha christie -- novel. lots of plots. nejra: i love the analogy and thank you for your energy at 4:00 a.m. local time. appreciate your time. you have outlined so many i

president xi promises a more open china for foreign firms ahead of a 620 showdown with president trump. plus beefing up the economy. can farmers help dig 620 host argentina out of its economic crisis? and on the markets, us stocks surge, enjoying their best day in eight months as federal reserve chief jerome powell signals the cycle of interest rate rises could be coming to an end. as you can see, the gains orjapan, but mixed elsewhere. —— the gains forjapan, but mixed elsewhere. let's return to the argentine capital, buenos aires, where leaders of the world's 20 top economies are gathering for this weekend's g20 summit. for global business, it's all about two of them, us president donald trump and chinese president xijinping, who are due to meet on the sidelines to try and resolve their destructive trade war. this year, the us has slapped import taxes or tariffs on almost half the products it buys from china, goods worth $253 billion a year. and president trump has threatened to put tariffs on everything else if he doesn't get a deal he likes this weekend. china has responded with tar

there may be a meeting between donald trump and president xi and they might be an opener. —— that.rade war between the china and the us has also been the focus of a major economic forum going on in singapore. sharanjit leyl is there for us. what have delegates been saying to you? there are a lot of people saying a lot of things. some 400 government and business leaders have gathered in singapore. henry kissinger, the former new york mayor, it is his event, he is company has put this event together. the chinese vice president was a key speaker and he said that china is willing to speak to the us to find a resolution to the trade row everyone is talking about. xi jinping spoke yesterday at the china international import expo and he reiterated what we heard xijinping say, that china isa we heard xijinping say, that china is a champion of globalisation and free trade and crucially he said they are committed to opening up their market. but to hear from two of china's top rows in two days suggests one thing, that they are immensely worried about this trade row. many of the trade partners

president xi. the spotlight, and there are plenty of other big economic stories around this week. there's been a string of reports about what brexit will mean for the british economy and the price of oil has continued to fall. 0ur economics correspondent, andrew walker, is here. andrew, as always, it is just getting busier and busier for you. how is life these days? do you ever get breast? if it is not brexit, it is oil and if it is not oil, it is trade. —— do you ever get any rest? there is a plan for the new trade deal the united states, mexico and canada have negotiated. nafta was a lot easier. there was a plan for that to be signed by the three leaders in the margins of the summit. due to happen in a little over three hours' time. we do not know whether they will nail it down because there are some continuing negotiations going on about trying to pin down the final text? it is this recurrent problem we have had in the negotiations about us access to canadian dairy sector. the americans have par