xi have the speech out of jinping and key takeaways from that.e getting a little movement in currencies because of the first bullet. ofa lot of ways, this sort gets you into the trade conversation and why, as you can see, the yuan is the best-performing currency -- over one year it is not, year-to-date, it is. yvonne: it seems they are maintaining that equilibrium when it comes to renminbi. a big dollar week, as well. we talk about fx and what to expect. plenty more to come. this is bloomberg. ♪ brad: i am brad stone in san francisco, in for emily chang. this is "bloomberg technology." in the next hour, uber ipo details. the ride-hailing start up plans to offer shares from $44 to $50. much as $10 billion. plus, amazon reports first-quarter earnings. how did the e-commerce giant measure up on cloud, ad sales and many other businesses?

government the russian president will also meet chinese president xi jinping in the next few days while russia has not been included in thoughts about the korean peninsula for some time this summit might have brought putin's involvement a little closer step al-jazeera. russia. putin is among the many world leaders attending what's been described as china's biggest diplomatic event of the year president xi jinping addressed the summit on his ambitious road infrastructure project linking two thirds of the world's population tried to address concerns about china's investments putting countries deep into debts beijing is expected to invest one trillion dollars worth of infrastructure projects and seventy countries to treat you as the latest from beijing. thirty seven heads of state are in beijing this weekend for the belgian reform including russia's vladimir putin and nike and one hundred from malaysia and they're about seventy countries involved in this parliament together they make up about thirty percent of the world's g.d.p. but for china this isn't just a discussion about maritime and

it may in the entech donald trump and xi jinping talking about those issues.nda: even the most reasonable people who do not like to see trade friction unnecessarily have said that there are some germs a real issues here that the u.s. is pursuing, that donald trump is going after things that are worth going after. ,s he able to give up on those especially technology sharing, intellectual property, is he able to back off? not to lose face, but economically? spreadthere is such wide support for addressing those issues in the u.s. business community, and also in the u.s. clinical sphere on capitol hill. his big risk all along is that he would use all of this leverage that he has built up and end up with a deal that everyone looks at and says it was not worth it. to it to be worth it, it has address those issues of intellectual property, technology theft, and some of the other bigger industrial subsidy issues that the u.s. has long complained about in terms of the chinese economy. shery: do we have an idea on a timetable? we have been talking about potentially pres

chinese president xi jinping open the belt and road summit on friday with more than thirty heads of state from across the globe despite his reassurances some attendees showed concern that they might become saddled with debt the chinese president sought to allay fears and promised operation transparency and zero tolerance of corruption as guiding principles. to belton road is not an exclusive club and it aims to promote green development. we are convinced that are more open china will further integrate itself into the world and deliver greater progress and prosperity for china and the world at large. speaking at the summit malaysian prime minister mohammed marketeers sought to raise doubts about his country's desire to take part just a week ago malaysia resumed the china backed rail link project. after the chinese contract agreed to cut the construction cost by a third to ten point six billion u.s. dollars but manhattan here did raise some environmental concerns. the straits of malacca and then the national route then the leisure community most assume responsibility for keeping the seas cl

of these chinese companies involved can use these deals to take advantage of them so president xi jinping sort of went straight to the points of some of these things saying that they're going to really try to increase the transparency with these deals come up with more sustainable methods of financing green financing to really sort of improve the way these these deals are implemented now he really sought to reassure the sturdy seven heads of state which who are willing to him but what was very clear was who were actually absent from this the u.s. there were no significant representation from the u.s. or from european major countries and they remain deeply suspicious and skeptical of this plan being anything more than beijing's attempt to vie for new political influence worldwide was a three day conference what's expected to produce by the end well we had the opening today in a round the some of this going to be a lot of bilateral some bilateral meetings president xi jinping met with the record four teams and heads of state yesterday and this definitely going to be more of that over the ne

at another summit. before president trump meets china's xi jinping at another summit.nk you so for explaining that one. we will keep a close eye on those talks for you. now, let's brief you on some other business stories. disruption for thousands of passengers of scandinavian airline sas after it cancelled hundreds of flights on sunday as a pilot strike continues from friday. the dispute over wages has ground around 70% of the airline's flights and hitting some 170,000 people over the weekend. tech giants will set the tone for another busy week of earnings. first up, googles parent company alphabet will report first—quarter earnings later on monday, while iphone maker apple is set to release financial results on tuesday. and that is only a couple dimension. —— two mention. the marvel movie series is becoming a serious money—maker. the latest avengers film smashed box office records taking $1.2 billion in its opening weekend. ‘avengers: endgame' earned $350 million alone in the us and canada, surpassing the $258 million mark held by marvel‘s ‘infinity war‘ last year. th

china's president xi jinping is hosting world leaders at the beltland forum in beijing.oping to highlight his flagship project and defended from growing international criticism. let's go to john side worth, china correspondence. there is a lot of criticism that these belt and road projects are receiving. that's right. this really is a mammoth initiative, in vision and scope and scale and spending, involving dozens of countries, tens of billions of dollars of funding, and for china, the aim is simple, to foster development and increase global and regional prosperity. but as you say, there is a lot of criticism. from those who say this is a way of exporting chinese overcapacity and doubt. it's a way of saddling poorer nations, and much of the benefits on these initiatives blow into chinese banks and big chinese construction companies. wherever you stand on the debate, i think the key thing about the next few days, the acceptance from many international leaders that this is an initiative to stay. it is after a ll this is an initiative to stay. it is after all president xi j

they want to know what they will sign when xi jinping shows up. the problem is some of these issues are too big for ministers like lighthizer and xi jinping's emissary to make decisions on. it takes leaders. david: great reporting, as you will have to keep doing for a while. reporting from washington. now is get a check on the markets. we turn to emma chandra. emma: risk on for u.s. equities on that deal you were just discussing. talks between u.s. and china seem to be going well with regards to a trade deal. we are looking at the s&p 500 advancing to its highest levels of the year, trading at its highest since october. almost every single sector with the s&p 500 in the green, just consumer staples and energy the laggards. small losses there. tech is one of the leaders which is why we are seeing the biggest gains for nasdaq today, up more than 1%. this is being driven by the chip stocks, the philadelphia semiconductor index. rising more than 3% and hitting a record high. some of the movers, amd, nvidia, and micron report a higher demand for chips

to come or two, that there are plans for xi jinping to come here for the white house and the president wasn't supposed to talk about it yet and we're not ready for a prime time consumption yet and white house aides say that there's nothing to announce right now. >> there are a couple of trips that are planned and this would be at least a month from now or so because thlighthizer has to o to china and vice premier lu would have to come afterwards. >> that is backed up by staffers that liu, and will he come with him on that trip in two weeks? that's certainly a possibility and we just don't know at this point and the white house is not offering a detail about what exactly the president meant today. >> that's quite a take your kids to work day today. >> i thought it would be pizza, but the white house, i guess is different. what do you make of these comments >> it's almost shocking that the market has moved on without even having a deal and it feels like this is a reminder that we don't have a deal, and in a world where china was spent so much talking about them on the show i think that t

from some thirty seven countries they're discussing the gigantic project with china's president xi jinping launched five years ago it is set to boost to trade between china and the world there are concerns that the project could lead to a market monopoly by china in response to further open the chinese market crackdown on intellectual property rights violations and also to abolish unfair state subsidies. five so what does china's belt and road initiative its new version of the silk road actually involve well one route runs through central asia and moscow all the way to rotterdam in the other netherlands now this route actually consists of roads and railways as well as power stations and telecommunications networks and else hope. i fly and then there is the maritime self which will connect china with europe and africa and southeast asia as well now china has already invested billions in infrastructure projects along the way but critics are warning that president g.'s gigantic project is plunging its partners into debt giving china increasing power let's listen to chinese president xi jinpin

president xi jinping was very much on the defensive addressing some of the criticisms that have been leveled against the belgian road initiative in recent years namely that this policy is simply a form of debt trap diplomacy a lot of the countries involved have been saddled with millions potentially billions of dollars of worth of debt and some of them unable to pay that back default on their loans and are then vulnerable to chinese political influence so that isn't one of the main criticisms other criticisms are about how the plan is actually being implemented over recent years that the hasn't been a high standard of implementation resulting in corruption resulting in environmental damage as well as unfair deals where chinese parties really take advantage of local parties so president xi jinping in his half hour address really did address on the points saying that going forward the belt and road policies will try to be more transparent that they'll try to be more inclusive and and also china will try to offer more green and sustainable financial options financial financing options a

wonder what the confidence is on president xi jinping in steering the economy.ths ago, we were talking about perhaps there being some doubts about his leadership. there it does seem like is more economic confidence toward chairman xi jinping. one of the things the trade war could have done and did in the change the luster around chairman she, this idea he could do no wrong. it seems like that idea is taking route. it is difficult to know what people in china actually think about the chairman of the country. we just don't have any good it is difficult to know what people in china actually polling. to actuallyot free express their views on the attention toward people studying attention toward people studying the thoughts of xi jinping but there is growing frustration and growing resentment about some of his policies. haidi: it is undoubtably that there are grievances domestically, particularly after what we ever for two as the summer of malcontent we had in china. to actually express their views on the sensitive political topic. it could be that we are seeing a lo

tweeteems to be a sub from xi jinping to donald trump.he enforcement mechanism is going to be. it has been my understanding that is a sticking point. what xi jinping is talking about with respect to intellectual property, from what i understand, that is already established between them. the enforcement issues that are still at play. come don't know what will out of these talks. what we do know is that china has objected to a unilateral mechanism where the u.s. can be judge and jury on these issues. problemsne of the big is that despite the emphasis on joint ventures and of the fact that some of this intellectual property theft is believed to have happened through having a chinese partner, china is willing to remove a lot of the equity caps but still they are going to be many ways that they can achieve technology transfer. is notnse, this something that is easily enforceable. longer-term, it has to be viewed as something that is in china's interest. be self it has to enforcing for us to get a big change in behavior. less a most chips on th

chinese president xi jinping is a resolution.hinese vice premier said the two sides reached consensus on the text of an agreement. the ceo of germany's commerzbank 's backing a proposed combination with deutsche bank. bloomberg saw a memo written to the bank's employees that set a deal could help commerzbank scale for necessary investments. the alternative of doing nothing is not an option. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm to be on our kado. this is -- i'm viviana hurtado. this is bloomberg. alix: for more on consolidation in european banks, as well as growth and u.s. jobs, we are joined by ent party by u.s. ceo u.s. ceo.paribas thank you for being here. guest: thank you for having me. alix: so, european banks. a deutsche bank/commerzbank merger. what do you think? guest: if you create a stronger institution, it is all going to benefit the whole european banking industry. however, when you do this type of transaction, i

president xi jinping is trying to curb the western influences and western ideas and western political concepts that have been vital factors in china's rapid economic development. he has insisted that every aspect of china's modernization must have chinese characteristics. the list is so long and so intrusive that it could easily lead to parity, because it is not just socialism with chinese characteristics, not just a political system with chinese characteristics, not just social science with chinese characteristics, it has to do with wisdom with chinese characteristics. it has to do with philosophy with chinese characteristics. now, this is just not right. philosophy is universal. wisdom is universal. those talk about universal characteristics as having chinese characteristics, you're not talking about the universal element, you're talking about the narrow element. before i came out here, we were discussing a reference to the chinese debate over 2000 years ago over whether a white horse is a horse, and the argument was, know it's not, because some horses are black and some horses are

president xi jinping was very much on the defensive addressing some of the criticisms that have been leveled against the bolton road initiative in recent years namely that this policy is simply a form of debt trap diplomacy a lot of the countries involved have been saddled with millions potentially billions of dollars of worth of debt and some of them unable to pay that back default on their loans and are then vulnerable to chinese political influence so that isn't one of the main criticisms other criticisms are about how the plan has actually been implemented over recent years that the hasn't been a high standard of implementation resulting in corruption resulting in environmental damage as well as unfair deals where chinese parties really take advantage of local parties so president xi jinping in his half hour address really did address some of the points saying that going forward the belt and road policies will try to be more transparent that they'll try to be more inclusive and and also china will try to offer more green and sustainable financial options financial financing optio

well as unfair deals where chinese parties really take advantage of local parties so president xi jinping in his half hour address really did addressing the points saying that going forward the belt and road policies will try to be more transparent that they'll try to be more inclusive and and also china will try to offer more green and sustainable financial options financial financing options as well as that he's also said that they're going to not devalue the one that the yuan the going to try to keep chinese currency stable so very much of the speech today was an effort to reassure the thirty seven heads of states and all the other representatives from about one hundred fifty countries who were present today but of course the absence in the room was also very clear there was no significant representation from the u.s. as well as other major european countries who still remain deeply suspicious of the political agenda of this boston red summit by china still ahead on al-jazeera underwater communities in south africa forced from their homes after heavy rains caused flooding and mudslides

focused on beijing's policy toward washington when it comes to what is happening after president xi jinping has essentially become president for life. what has changed? kevin: what has changed in terms of -- shery: beijing policy toward washington. kevin: let's put to one side how the u.s. has changed. as far as the chinese are concerned, if you listen to the analysis in washington, it comes down to four points. chinese president when from a collective leadership to individual leadership model, reflected by his decision to abolish term limits on the presidency. the other thing, the island reclamation of the south china sea. also the so-called 2025 industry strategy where there is large state support for china's determination to occupy the commanding heights of your technology industries in the future, including artificial intelligence. roadly, the belt and initiative and its impact across water eurasia. they are activist and they are departed from the china we knew five or six years ago. if you want to know what has changed at the beijing and, it is along those lines. when we look at the fu

president xi jinping used the global stage at the second belt and road forum to signal a deep commitmento china's economy. kathleen hays is in beijing with a recap. to president xi managed deflect criticism? is significant that xi jinping, coming out for the second belt and road forum, the first one to years ago, the initiative they started talking about in 2013, getting launched in 2016, has had this is him. people compare it to a debt trap or that there is investment in places where it they don't need it. presidency is investing -- theseent xi is addressing more than he has in the past. one of the things people said his speech was muted on initiatives in other countries, toning it down. he set the cleanup for the belt and road and vowed zero-tolerance on corruption. let's look at the joint statement from belgian road participants at the end -- belt and road participants. it calls for high-quality projects. don't invest in something that won't pan out. going to invest in connectivity, connecting regions, spreading prosperity is one of the themes from china's point of view. he also said

what's changed when i was there is xi jinping.hey used to have a standing committee would make the decisions, so there'd be seven people that required consensus amongst the seven. which was kind of a check and balance in an unusual way. and, therefore, china seemed to be a a lot risk averse. xi jinping, maybe president for life, which changes the decision-making dynamic and changing the diplomacy. i believe the united states, though, must make sure that our allies -- japan, south korea, the philippines and india -- know that we stand squarely with them if china tries to encroach upon their territories. ii happen to believe that not joining the trade pacific -- whatever it's called, trading partnership, something like that -- [laughter] was a mistake because by pulling out of it, it sent a signal to our allies that we weren't serious about economic alliances and that it also enabled china to gain a better market share from our allies relative to what we had. and so, you know, the best policy ought to be to negotiate the best deal w

xi jinping said there will not be harmful depreciation of the yuan as the u.s. will consider pharma concessions. anders from rbs, totale, after zeneca hit -- astrazeneca hit this morning. good morning, everyone. elcome to "daybreak europe." we have breaking news coming through on deutsche bank. we heard yesterday that the merger is off with commerzbank. what we have coming through hitting the tape is first quarter sales and trading revenue coming in at 1.5 2 billion euros for deutsche bank, beating the estimates. it is a beat on first quarter fic sales and trading for deutsche bank. and then it is also saying it is on track to meet the 2019 adjusted cost target. the return on equity depends on external factors. trading revenue coming in at a fairly reasonable beat? 525 million euros, the estimate. the big question, can deutsche bank turn itself around on its own? the big question we are going to explore in this hour. let's turn to dws. what we are seeing is first quarter net income coming in at 102 million euros. the first quarter adjusted pretax comes in at 153

xi jinping vows to end subsidies for chinese companies as he reassured the world about china's belts in the road project plus former vice president joe biden becomes democratic candidate number twenty for the next u.s. presidential race. sure lanka has revised down the death toll from sunday's suicide attacks but people are being warned there could be more attacks coming five days on the prime minister has admitted to intelligence failures and confusion over how many were killed in the blasts churches and hotels he says the toll is likely around two hundred sixty about one hundred less than previously thought florence louis reports. armed patrols random searches the increased security can be seen everywhere on the streets of colombo as the hunt goes on for anyone involved in sunday's attacks it's not just the police and the army but the navy an air force are mobilized to the prime minister running. told al-jazeera that the extra security measures are necessary and i. am sorry i cannot be you know the number but some are on the run and the third following them remain for the first is

with other international leaders including xi jinping he said yes of course i'll be telling xi jinping about everything we talked about but more importantly something that you already mentioned whenever he meets american officials or that also can be done through diplomatic channels russia is right be to convey the details and the message from north korea to the americans in fact. even asked a lot of our putin to send a certain message to donald trump when he gets that chance another question another question you sorry from journalist was about. putin the thought was ready to get together with the american president donald trump again mr putin fell short of giving a direct answer to that question although he believes that or later this kind of summit will have to will have to happen because other ways there is no way out of the crisis on the korean peninsula. ok. well it's been saying that have been pretty good at this summit so let's take a closer look at the atmosphere in these talks and president putin welcomed his north korean counterpart in the far eastern city of boston. ok well

chinese president xi jinping signaling approval for donald trump's trade demand., protect intellectual property rights and allow foreign investment in more sectors. a number of industries, all key issues in trade negotiations, steve mnuchin along with robert lighthizer traveling to china for talks after my exclusive interview on "mornings with maria". he will join me for that before he leaves for china. gordon chang, great to see you. what gets done next week in china with these two gentlemen traveling to beijing. >> i've given up forecasting on this. there have been a lot of optimistic stories for the last 6 months, almost all have proved to be premature. people say there will be a trade deal it looks like xi jinping might come to washington in june. donald trump signaling that yesterday but things fall off the cliff so many times. i'm saying who knows? maria: for a while they were back and forth over enforcement action, and enforcement mechanism in this deal. should china steel or go back on its promises, they can snap back to something on tariffs, to enforce th

and new york washington post reporting that president trump will announce a summit with resident xi jinping. the -- the president is set to meet with the chinese prime minister who is in washington, d.c. prior to the vice premiers meeting with trump, he's taking meetings with robert lighthizer and secretary mnuchin. a couple issues still being worked out, including further to be enforcement mechanisms, how much commodities china will purchase from the u.s. and as well as the potential for the u.s. to be able to have the opportunity to take ownership of chinese firms. all of this comes as that much-anticipated meeting. it is unclear whether or not we will hear directly from the president after that meeting, but it will likely -- because it is listed on the president schedule, there could be comments on the president schedule at 4:30 eastern time. david: to have any sense of what kind of paper we might see? will there be a joint agreement? the last time this happened president trump took don't -- took on his own trade representative saying i do not believe in memorandums of understanding. see

there was an expectation that their dsm and announced with trump and xi jinping. that never happened. a lot of people look up a little bit more worried than they should have been. china said there was significant progress made toward a trade some text they mentioned. it is all sounding like it is going the right way. what i likeump says to refer to as happy words about this. different than what he says sometimes. it seems like it is all going about the right direction. if you're looking for a deal to come up. rishaad: we had a lot of silence on this. the news flow has come back of late. it was a situation where there was good news. the sticking point was that they had verification. anyway, how did they get around that? >> i'm sure it is solved yet. the u.s. abuse china quite candidly as one that does not hold up to all of these deals. is the broad endemic in the system? i think there is a great concern within the u.s. that maybe you sign a deal. a lot ofhere is progress that could be made on that front. i think it is particularly difficult to put that sort of test

roads bridges pipelines and ports to boost trade between china and the world now china's president xi jinping opened the summit promising to give foreign owned companies more access to the chinese market a crackdown on intellectual property rights violations and to abolish unfair state subsidies will go fully prepared to belton a road is not an exclusive club and it aims to promote green development so we may launch green infrastructure projects make green investment and provide green financing to protecting us are which we all call home. when we are convinced that a more open china will further integrate itself into the world and deliver greater progress and prosperity for china and the world at large pushes you. so what does china's belt and road initiative its new version of the silk road involve for one group runs through central asia and moscow all the way to rotterdam in the netherlands that consists of roads and railways as well as power stations a telecommunications networks and also pipelines and then there is the maritime silk road which will connect to china with europe with africa

this gathering is designed to sing the praises of xi jinping's signature policy, the belt and road initiativeor his global transport infrastructure drive. president xi promised greater transparency, a clear shift from the opaqueness to date, with no published lists of projects or details of how they were chosen. the chinese leader says he wants broader international involvement. translation: we will enter into negotiations with more countries, to conclude high standard, free trade agreements and strengthen cooperation in customs, taxation and oversight. under this initiative, china provides loans and technology so the developing world can build infrastructure to connect with the global economy. yet some analysts have questioned whether a lack of capacity for countries to make repayments could be used to draw them into beijing's sphere of influence. but despite any criticisms, many have decided it is better to be involved. in the case of the british government, there was praise for president xi's vision. but a warning you must de—deliver on the promises he has outlined. to be successful, it ha

so does president xi jinping then see you very much as part of china?se you do have this special status. because there is concern in china about what some describe as his increasing authoritarianism and centralisation. i mean, i'll give you an example ofjust one critic, mao yushi, a 90—year—old economist, who has seen so many trends in china. he says president xi's idea of governance is less liberty and more control. he scrapped the two—term limits last year, so he could in fact be president for life if he wanted to. he has had a huge purge of his critics, and this anti—corruption drive. i mean, there are numerous examples one could cite. you know, i've been involved in politics in hong kong, and hong kong is eight million people, a little less than eight million. china is 1.3 billion, and you can imagine it's not an easyjob. so obviously china... not an easyjob for who? for the leaders in china, in beijing. listen, i mean, china has actually done amazing things over the last a0 years. the economic reforms have basically lifted most poverty out of china

anniversary by showing off the festival a new generation of guided missile destroyers president xi jinping says the navy is improving its ability to defend chinese waters but taiwan and others are worried about territorial claims far from the chinese mainland katrina you has more from beijing. thirty two warships and thirty nine aircraft including a raft of new nuclear submarines and destroy is difficult to see through the hazy air china's navy was out in force in the port city of qingdao celebrating seventy years since the founding of the people's liberation army president xi jinping presided over the parade since coming to power and twenty twelve has made modernizing the military one of his main priorities china says a stronger navy means a more peaceful region. the chinese navy has always been a peaceful force and will not pose a threat to any country. chinese offices referred to past foreign invasions the source of deep wounds as motivation for improving their military china's defense spending has scaled new heights in recent years the soviet. its first aircraft carrier was launched tw

chinese president xi jinping says more than sixty four billion dollars worth of deals have been signed during a summit promoting his country's belton road initiative she's planned to build infrastructure and trade routes through asia africa and into europe was front and center in the two day conference russian president vladimir putin was there to show his support but want other countries against supporting trade wars. nobody wants any restrictions nobody wants any trade wars except maybe only for those who start these processors an overwhelming majority almost one hundred percent are sure that all these are strictures the development of the world economy. is not going according to plan for around a thousand security force personnel who defected from venezuela they crossed the border into neighboring colombia two months ago and there remain awaiting the call to join the fight to overthrow the venezuelan president. reports in the border city of kuta. as they abandoned their posts and crossed into colombia they were greeted as heroes. more than one thousand members of the security forces

one, the president is not committing to a summit with xi jinping. turns out he doesn't announce that he said maybe four more weeks of negotiations here and maybe two more weeks after that to get the deal papered, as he said, before there is a summit with xi jinping if they get to a deal and it would be the best deal ever and it would be a terrific deal and things are going very well and i was in the oval office with the run-up to this and in that run-up, the president went around the room and talked to each of his advisors including the peter navarro, and the trade adviser, both made comments in the oval office that were substantially more descent cal than the president's remarks were. >> navarro selled that the end of a mare lot still left to agreed to. the vaeders that were ahead on a totally sticking tone. >> he brought up two he said one was intellectual prospectory and the idea of the chinese dealing american ip and ultimately tariffs and those are the core things of this negotiation and two things and it gives you a sense that there is still a

african projects are crucial to president xi jinping is belgian road initiative which aims to connect china with asia europe and africa by land and sea critics say the initiative is all about spreading chinese influence abroad and a saddling some countries with unsustainable debt. china's ivory coast's largest trading partner in asia and its third biggest overall trade between the two countries rocketed eight hundred percent between two thousand and fourteen and two thousand and sixteen alone the new container terminal is being built by china harbor engineering company work began in two thousand and twelve and most of the three hundred workers are chinese it's not the only modernization work underway in ivory coast. after two thousand and eleven as part of the recovery of the economy of ivory coast and the modernization of its infrastructure including the port area a vast program was introduced to modernize the infrastructure and improve traffic and congestion management. there are fears that chinese funding might dry up as that country's economy slows down but with such a gaping need

he's planning a summit with the chinese president xi jinping.know that from administration officials and voicing optimism in some session that he can get to a deal with china. other issues coming up during the conversation at the white house. remember on the table right now what about release the mueller report are. the conversation we just had about the president's taxes. a lot to ask the question about. he's in the cabinet room. let's listen. not quite ready yet. sorry, we're waiting for the president of the united states. again, the president meeting with the opportunity revitalization council. he went around the room with the cabinet and the q&a with reporters will feed now. >> thank you very much. >> thank you very much. >> thank you so much. >> trade is coming along well. we're have a big meeting this afternoon. i think you folks are going to be at it for a little while at least. the vice premier is here and lots of top people from china. they very much want to make a deal. we'll see what happens. got to be a good deal. it's got to be a gr

targeting three million people in three countries remain critically on the fund chinese president xi jinping says more than sixty four billion dollars worth of deals have been signed during a summit promoting his country's belton road initiative she plans to build infrastructure and trade routes through asia africa and into europe was front and center during the two day conference russian president vladimir putin was there to show his support but warned other countries against supporting a trade wars. but sure nobody wants any restrictions nobody wants any trade wars except maybe only for those who start these processes an overwhelming majority almost one hundred percent are sure that all these are strictures harming the development of the world economy but still ahead on al-jazeera the us president rallies american gun supporters and uses the venue to pull out of another international treaty. hello there the temperatures are recovering now over the northern parts of asia seem quite cool recently but i think we'll get up to nineteen degrees in tokyo on sunday and in the sunshine that should

one of the world's most powerful leaders making a powerful entrance chinese president xi jinping arriving at the belton road summit flanked by almost forty heads of state in front of government representatives from more than one hundred countries. in his opening address president xi said he would work to ensure the controversial project connecting asia to europe africa and beyond. would be sustainable green and provide growth for all those taking part. in this is a new initiative has helped people's lives in the countries involved and created more opportunities for prosperity he rejected criticism that the costs involved would lose some countries into levels of debt they would find almost impossible to pay back estimates put the bill for the long list of infrastructure projects at close to one trillion dollars they were pipelines pull its bridges and railways all designed to improve trading links. we all adult widely accepted rules and standards that encourage put his painting companies to follow general international rules and standards in project. among those attending a key supporters

government the russian president will also meet chinese president xi jinping in the next few days while russia has not been included in talks about the korean peninsula for some time this summit might have brought putin's involvement a little closer step process al-jazeera. russia. person is now in beijing where he's among the many world leaders for what's been described as china's biggest diplomatic event of the year president xi jinping has just addressed a summit on his ambitious one belt one road infrastructure project linking two thirds of the world's population she tried to address concerns about china's investments putting countries deep in debt beijing is expected to invest in one trillion dollars worth of infrastructure projects in seventy countries well let's cross live now to katrina you who's in beijing for us katrina this is clearly a very significant forum for china. yes that's right we have in beijing right now thirty seven heads of state including as you mentioned the to be a puritan from malaysia and there are seventy countries involved in these countries make up about

president xi jinping is working to extend that economic power well beyond his country's borders. vision is called "one belt, one road." he wants to create a modern-day silk road, improving roads and ports to form a gigantic economic bloc stretching all the way to africa and europe. one country is set to play a particularly important role in this initiative. that country is myanmar, led by state councilor aung san suu kyi. a key part of xi's plan is this route linking southern china with myanmar's rakhine state. completion of this route would link china to the indian ocean without passing through the malacca straits, a development that would have significant strategic and economic benefits for china. in 2010, work began on construction of two pipelines along the new route. onee for natural gas was completed in 2013. the other for crude oil was completed the following year. they pump these fuels 770 kilometers from the indian ocean to the chinese border. the pipelines start from an island in n rakhine state. a port for offloading crude oil from tankers has already been constructed

i am told that despite his anointing himself president for life that xi jinping is in trouble that economyacting so badly partly because much the economic world slowdown, and partly our pressure on them, in exchange for a good china deal, what is happening with xi . >> i think xi jinping needs a deal with the u.s. more than we need a deal with china, that puts us in a very good negotiations position, china annual growth rate 6.6% last year, that is a 20 year low. they are probably not going to meet it without government spending like building roads to nowhere and apartment blocks where no one lives in. i think that xi is you were -- r pressure, he has to strike a deal with united states he has to fine a way to get this deal without appearing to give too much away to united states. david: a fine line, but i don't have much sympathy for him, fred fleitz thank you. >> thank you. david: we would like to hear your thoughts on this share your comments and follow lou on twitter at @loudobbs. and still to come, congressman andy biggs joining to us take up who is coming across the southern border,

leaders from some thirty seven countries are discussing the gigantic project but china's president xi jinping. the north five years ago it set to boost trade between china and the world there are concerns that the project could lead to a market monopoly by china. so what does the china belt and road initiative mean it's the new version of the silk road what does it involve one route runs through central asia and moscow all the way to korea in italy it consists of roads and really raise as well as our stations daily communication networks and pipelines now there is the maritime silk road which will connect china with europe africa and southeast asia china is already in mr invested billions in infrastructure projects long the rich but critics are warning that president xi is gigantic project sponging its partners into debt giving china increasing power here's what the chinese president had to say. the delta road is not an exclusive club and it aims to promote green development when we are convinced that a more open china will further integrate itself into the world and deliver greater progress

leaders from some thirty seven countries are discussing the gigantic project with china's president xi jinping launched five years ago it is set to boost trade between china and the world there are concerns that the project could lead to a market monopoly by china. or so what does china's belton road initiative its new version of the silk road involve let's take a look now one route runs through central asia in moscow all the way to treat asked and into italy it consists of roads and railways as well as power stations telecommunications networks and pipelines and then there is the maritime silk road which will connect china and europe and africa and also southeast asia china has already invested billions in infrastructure projects along the way but critics are . winning that president she's gigantic project is taunting its partners that the debt giving china increasing power here's what the chinese president had to say. to belton a road is not an exclusive club and it aims to promote green development when we are convinced that our more open china will further integrate itself into the world a