how i see xi jinping's ideological worldview. it is as a marxist nationalist if i was to unpack that one stage further would be. when i look at shea on the economy, i see a marxist shift to the left. away from student enterprises. so towards state enterprises away from the private sector and in the direction of a greater equalitarian distribution of wealth. i see she is leninist on the party moving again politics to the left. training the the political space available for individuals or ngos or even the professional apparatus of the chinese state in favor of the central leninist discipline of a part of the chinese communist party. but i also see in the legitimacy stakes. xi jinping moving chinese nationalism to the right. that is a much more assertive chinese foreign and security policy. much more seeking to advance china's national interest internationally and and deep appeals to nationalist sentiment in a way in which he's predecessors by and large did much less of so when i use the term marxist nationalism, i don't use it. cas

xi jinping. you say they are trying to pull the attention away from the u.s., i imagine let's business for more european countries to do business with china and russia trying to do the same thing. is that breakaway really possible and are there enough european countries willing to look the other way to continue to do business with war criminals? >> i think we are seeing europe in a different position then it was six or seven weeks ago. that is a good thing for the united states, that's really the result of washington's policy to actively court here to make sure we are on the same page so right now china looks at europe and probably less optimistic than it was at the beginning of the year but nonetheless putin right now and xi jinping are working closely and china is supporting the war effort in many different ways including providing military intelligence and perhaps lessons as well. arthel: will china try it? will beijing bulldoze into taiwan and if they do, how would taiwanese people react? >>

check that out on your terminals to continue watching president xi jinping.o late next week, some events you also may have missed in the past. haslinda: still to come, sri lanka's president names and advisory panel, which includes the imf, to help resolve its growing debt crisis. more on that next. this is bloomberg. ♪ david: our world index brink are primary benchmarks, bottom of your screen, sri lanka is now the world's worst performing equity market, overtaking russia these last few days, and certainly understandable given the sort of sentiment we are seeing as far as the economy is concerned. the president has named this advisory panel to help resolve the growing debt crisis, engage with lenders including the imf signaling that he has remained in control despite calls for his resignation. joining us now is our economics correspondent with this story. you have and following what has been happening in sri lanka step-by-step. what is the significance of this new panel in sri lanka? >> the idea is it is made of fiscal experts and economists. the idea is it wi

there is always pressure on president xi jinping. there is more call on how to stem delay growth and what the best playbook is to read from when you have the csi 300 this week touching a two-year low and the renminbi and the capital outflows weakening to the weakest level since november of 2020. do they relax the curbs on property? the technology company? did they alter the playbook on covid zero? a lot of valid questions but will they do it? by all indications, they are sticking to zero covid. >> stephen engle there, thank you. let's go to the first word news with vonnie quinn in new york. >> thank you. u.n. secretary general antonio iteris has met with vladimir putin in moscow. as officials from both russia and ukraine say that talks are at a dead end. boudin said he is not refusing -- no refusing to negotiate with kyiv. meanwhile, russia will make good on these supplies. the move is seen as a major escalation. she was the first of four central-bank nominees including chair jerome powell. president biden is the fifth nominee. await

president xi jinping coming out to say that the zero covid policy has to be maintained. still focused on the policy response out of the pboc. the cac is gaining 0.2% and we continue to keep and i on the earnings picture. the german dax is gaining around 0.2%. the spanish ibex is a range bound. let's move and see how things are playing out across assets. it is worth mentioning that the nikkei performed well in the sanction -- in the asian session today. we see gains on those futures. we look at the front end of the yield space because that is where we saw the front amount. coming out 2.33 on the u.s., now down two basis points. the bloomberg dollar index shorter by 0.2%. and brent currently at $107, lower by 2%. wti also above $100 a barrel. let's get over to bloomberg's mliv managing editor, mark cudmore. you're looking at the cost of u.s. debt. mark: this is a chart of the estimated annual debt payments on the u.s. debt pile and you can see they are suddenly starting to surge again. this is a parabolic line that will continue to rocket higher because every time the debt

xi jinping - putin a murderer. xijinping himself. _ putin a murderer. does end up winning another— himself, you know, probably does end up winning another term _ himself, you know, probably does end up winning another term in _ himself, you know, probably does end up winning another term in office - himself, you know, probably does end up winning another term in office at. up winning another term in office at the national— up winning another term in office at the national party _ up winning another term in office at the national party congress - up winning another term in office at the national party congress earlierl the national party congress earlier this year— the national party congress earlier this year -- — the national party congress earlier this year -- make _ the national party congress earlier this year —— make later— the national party congress earlier this year —— make later this - the national party congress earlier this year —— make later this year, i this year —— make later this year, but he _ this year —— make later this year, but he ha

for another five years, maybe for the entire rest of his life, so i believe xi jinping will be veryation before waging a war in the theatre of the taiwan strait against taiwan. yes, well, xijinping may well be cautious if he believes that taiwan can put up as fierce and effective resistance to the might of the chinese military as ukraine has already put up in the face of the might of the russian military, so the question to you, if i may say so, as a representative of your country, is do you believe, honestly, that taiwan is in a position right now to match ukraine and put up that level of effective military resistance? yes, i think we have been investing so many resources to improve our defence capacity and taiwan does not want to enter into a kind of arms race with china, which is not in taiwan's interest because china is much bigger than taiwan in terms of military resources and manpower, so what we want to do is to improve our defence capacity, particularly focus on the promotion of taiwan's capacity to do asymmetric warfare against china's potential invasion against taiwan, and

and the thinking in the years before the protests and the crackdown is that xi jinping, and to date, they didn't want to give up the so-called goose that laid the golden egg and that by cracking down on freedoms, they could risk seriously harming or even destroying a key asian financial center that needed those very freedoms and especially-- [inaudible] what had changed there and what allowed to risk in killing the goose that laid the golden egg occurred? and i wondered myself lately, was it inevitable? >> yeah, well, i can't answer whether or not it's inevitable. i think there's a lot of history, a couple of factors, one is from a macroeconomic standpoint, i think that hong kong matters a lot less than in 997. china is what, i think 18 trillion dollar economy, second only to the u.s., much larger than japan. yeah, the flows that come through hong kong are important, much of the technology, human know-how that's come through hong kong is important, but you know, in a relative sense it's much, much, much less important than it was in 1997, but i think the more important answer is it s

and xi jinping's china." kevin rudd. thank you. can't wait to read it. >> good to be with you. >> really enjoyed this conversation. i hope you can come back. the u.s. and european union are expected to announce sweeping sanctions tomorrow. will they target members of vladimir putin's own family? we'll talk about that. ♪ walking o on ♪ ♪ walking on the moon ♪ ♪ some ♪ ♪ may say ♪ ♪ i'm wishing my days away ♪ ♪ no way ♪ ♪ walking on the moon ♪ [♪] did you know many anti-fungal products are not intended for the nails? try kerasal. unlike others, it's formulated with clinically-proven ingredients that penetrate fungus-damaged nails to start improving nail appearance in just two days. try kerasal. ♪ ♪ ♪i'm so defensive,♪ ♪i got bongos thumping in my chest♪ ♪and something tells me they don't beat me♪ ♪ ♪ ♪he'd better not take the ring from me.♪ i love being outside. my eyes...not so much. until i found new clear eyes® allergy. just one drop means all day relief, and my eyes...feel amazing. new clear eyes allergy. your eyes deserve the be

paul: let me switch of the zero covid policy that xi jinping has an enormous lockdowns in shanghai andident xi afford to give the strategy up and made a mistake? >> yes he can. the challenge to him so is that he has been provoking too many foreign powers china needs a massive investment and needs technology transfer it needs a joint to be approved by goldman sach's to continue the 100 year marathon strategy whatever is pragmatic with growth rate is what they need to work on. they've been quite wounded quite recently it's downgraded china's growth rate to amiri 4.5%. this is the kind of thing that xi jinping and his critics pay attention to, what can they do about the growth rate of china? they could abandon the lock down quite quickly if the growth rate is at stake for quicksort thank you michael pillsbury pushy or coming in as always. still ahead, florida governor desantis stepped up to fight with disney estate lawmakers vote to revoke the theme parks self-governing status. reis the move a warning for othr ceoswe? o! ensure max protein. with thirty grams of protein, one gram of sugar,

but there is no question that zero covid will persist and xi jinping has told us that it will.what happened to the smart technocrats that we could rely on leading advice when it comes to finance and economics, have a just been trumped by the ideology? once we could have relied on them to put forward a policy mix that would level the playing field and rewrite the ship. george: yes, since 2012 when xi jinping came to power, for 10 years really of it's been going in fits and starts, but the pragmatism for which the communist party earned its plaudits over the last 20 or 30 years has pretty much gone out of the window in deference to this ideological lurch which is being championed by xi jinping. we've seen during the last year or two with regards to the tech crackdown and the blizzard of regulation which is a different perspective than they have taken with regard to private firms. francine: george, we will get you back onto talk about twitter and china and elon musk. george magnus, author and economist and research associate at the oxford university china center. ubs liens on its

xi jinping has maid it clear pandemic control will remain in place, die speed the pressure internally and externally to try to have a more reasonable control policy i don't see that changing anytime soon in fact, we're hearing about additional cities outside of beijing, and places like inare mongolia, home to mineral production, starting to shut down i think people have to prepare themselves. >> it sounds like the supply chain issues won'tbe pretty. i hate to say it, isn't it different this time around, in that the population is protesting they are protesting the lockdowns at this point. tyson is diverting food shipments, so there are food issues, there's inflation issues you know, the people of china don't want this to happen this time doesn't that undermine xi jinping? >> i think you hit it on the head we had protests in wuhan, but this was much more controllable. this is shanghai with lots of ex-pats, lots of middle-class chinese. they were not just prepared though this draconian left of a shutdown jinping is tied to this policy he has touted this policy and his system at being to

what does that mean for xi jinping and a its plans for taiwan?u believe that he's taking lots away and looking at taiwan but should the u.s. be doing now to taiwan what it should have done with ukraine months ago? what is your expectation for china, taiwan? >> yeah, it's a great question, maria. i think the real concern here is that there's a concept called it. greated deterrence that -- integrated deterrence that the pentagon had been talking about a lot, it's the core of the new national defense strategy and the basic logic is that the united states can do other things, other tools other than military tools to deter actions abroad. and i think the reality a is that that just didn't work in russia. now we can have a debate as joe biden as to whether they were really trying to deter in the first place but at the end of the day if we're thinking about a taiwan crisis we can't rely just on economic sanctions to deter china a. we're going to need some military tools. what we should be doing now is working very closely with allies and partners to bul

the thinking in the years before the protest is that even xi jinping and the ccb of today didn't want to go up give up the goose that lays the golden egg and that by cracking down on freedom basically were seeing or even destroying a key asian financial center that needs those very freedoms and especially the sense of british contract law to survive. what has changed there and what's that risk in killing the goose and i wondered myself whether this is inevitable? >> i can't answer whether or not it's inevitable. there's a lot of contingency in history but a couple of factors , it's a great question. one is from a macro economic standpoint i think hong kong matters a lot less that it did in 1997.china is an $18 trillion economy, second only to the us and the flows that come through hong kong are important. much of what technology that's come through is important but in a relative sense it's much less important than it was in 1997 . but i think the more important answer is it shows that or the party, staying in power is what they regard as security is more important than anything else a

it was right out of the gate, a somber tone from president xi jinping. he did talk about the covid challenges, but in broad brush strokes. he said we have yet to walk from the shadow of a once in a century pandemic. he says the global economic recovery is weak. took a somber tone. >> we may have lost you there. recap about the president speech. going to be the key focus. not exactly really trying to address the concerns with covid zero. what is really weighing on this economy. but certainly we will continue to see you to come here to see if we can bring back stephen. i want to thank him as well for sticking around post speech there with david ingles. this whole market, it is playing out, because it is not so much china. we are continuing to see pressure as steve had mentioned. we are back to levels before that march intervention, when they sent out massive to restore confidence. we have not quite seen that yet, but the rest of the market is still seeing relief. there is that tumble in yields overnight certainly helping sentiment out there. haslinda: you'

if something happens, xi jinping has a third world war, then the ship will sink, and with it all theisten. facts once again proved that the cold war mentality only undermines the foundations of global peace, hegemonism and brute force politics only endanger world peace, and bloc confrontation only exacerbates security challenges in the 21st century. all countries of the world are sailing on one big ship with a common destiny if they are to cross the furious waves and continue on their way to a brighter future. they must act in the same direction; it is not permissible to try to throw someone into the sea. we are against unilateral sanctions and do not intend to a policy aimed at forming blocs and intensifying confrontation. china supports any effort to resolve the crisis . we will not follow double standards. we categorically unacceptable lawyer diction long arms of individual countries. we are against the abuse of unilateral sanctions and will firmly defend security, both in traditional and new areas. our faith in reforms and the policy of openness, as well as the will to carry them

has the state department issued an angry denunciation of xi jinping? is the u.s.ernment threatening sanctions against china for building the world's largest prison camp? of course not. effectively our leaders are defending what china is doing. here is tony fauci admitting on camera he will never criticize the chinese government. >> we spoke to one of the w.h.o. investigators who have been to wuhan to investigate how the virus started. they were prevented from seeing key details of, and speaking to key people. why do you think the chinese government did that? >> i don't want to create any or mention any disparaging remarks about that. the chinese are very close to in a way of being very reluctant particularly when you have a disease that evolves in their country. they become externally secretive, even though there's no reason to be secretive. i think they were very concerned and may be embarrassed. that the virus evolved from their country. but there's nothing wrong with that. >> tucker: yeah, so they lied about an international pandemic that they clearly had a han

xi jinping sees the free world unite and putting in tough economic sanctions and the support with materials and weapons that's a deterrent for him invading taiwan which would be a real clinical disaster for united states of america. others are watching and the iranians are keeping their eyes on this as well. they are a are second-level consequences to how we respond and critical to our country. >> we are hoping to get g president zelensky on skype to come in. he still meeting with dignitaries and he may pop in so we will interrupt the discussion obviously if he pops up and he has a message for you all but the cousin of respect and both of these men are interacting with sean we wanted to be a part of this. bear with me. i'm going back to that room and making a decision whether you are going are not going. it stands met with the zelensky and you pressed him and pressed him and it's moving forward but you have to make the call. >> in terms of? >> leaving. >> when the invasion started what happened my colleagues and i darren kaufman codirector, i refer to it as where we met with him and it's pr

not only our adversaries, but when you look at putin and xi jinping, we -- let's not forget iran. the president is working on a new iran nuclear deal negotiated by the russians. not only are they paying attention to the weakness shown by this administration, but our friends and allies took notice because we left afghanistan without letting them know. we left them high and dry. we left america behind. that should never, ever happen. the world saw what happened and our adversaries do not fear us. our allies do not trust us. we have a lot to make up on. i know what -- i believe what rug and -- ronald reagan believed. we would have more peace in this world if we were showing a heck of a lot more strength. [applause] >> after spending trillions of dollars with an -- reduced inflation and telling us inflation would be minor, we are at a 7.9% inflation rate, the highest level record in 40 something years. the biden administration doesn't seem to be coherent about how they are going to address it. let's fast forward and talk about, what would republicans do when they retake the house and

-- vladimir putin and xi jinping, because it's got the attention of other countries around the world, not just our nato allies, but australia, japan, vietnam and others, that these two powers are a risk to them, that these two powers are bullies and that they want to take over and be the preeminent power. in russia's case in europe, and in china's case in asia, and even more globally, their ambitions. if you look at belt and rope, strategic communications. the question is, how do our political leaders explain to the american people the kind of role we ought to have, that is not overly ambition in terms of -- ambitious in terms of trying to fix problems or on the world, but we have the ability and the will to bring together alliances of others, with others, to protect our interests and theirs as well. >> that is a very hard mind to navigate. finding the right balance between means and ends. >> that's what leaders get paid for. >> i would agree. i'm showing my bias here, but i would argue that frankly, again, the last time we found the right balance between means and ends, the right am

it may be that xi jinping made his bed and he can't let putin fail and won't. ina is likely to attack taiwan? >> i don't think this changes xi's intentions. i will want to delay and make sure his generals weren't flying him. his words to he unify taiwan aren't going to change. he may wait just a little bit. but we should not forget for one moment. the chinese communist party presents the greatest single the external threat to the united states of america. he made the commitment that he will reunify his nation by drawing taiwan back in. he won't walk away from that because putin had a difficult time securing kyiv. brian: i believe we should do it with uniformed soldiers. how do you feel about that? >> we should arm them to the teeth and the moment is upon us. hard to get mig 29s in after the war started. the same way it would be difficult to create armament shipments and resupply routes once xi has already taken action. during the trump administration i signed off on the sale of f-1s and anti-air craft equipment. we should make the clear that our allies in the re

on the other hand, the relationship with russia is very important for xi jinping. another autocratic leader. they pushed back against u.s. again many -- hegemony. they wanted to change that. therefore you see the chinese are repeating the same propaganda as the russians are about why the war broke out and u.s. designs on russia, things like that. they repeated the fake news, saying the massacre was done by the ukrainians or by actors. they have not stopped. they have not change their position. at the united nations they are doing all they can to support russia, including not condemning them for anything. i think going forward people suggested maybe the chinese could be mediators. i don't thing they want to play that role. i think what they are doing is they are complying with the sanctions. we don't have evidence they are trying to help russia avoid them. we don't have any evidence they are supplying russia with military hardware, which there were rumors about that. i agree with michael. to take away from this vis-a-vis taiwan is, a, locality ukrainians are fightin

place washington will stop us underestimate, but easier to anger, which prompted the chinese leader xi jinping to recall everyone in the same boat. france on the ballots presidential elections the second round macron or lile, pan-european or national pen or both candidates are worse and what if billion rubles just two weeks jackpot from the russian lotto gift to each participant minimum winnings twice more soon for tickets. they constantly sell expensive novelties that are not there, nothing new sberbank changes the rules. meet osago in a new way reliably saving up to 50% registration online and at sberbank offices. wolf in the joints reduces activity, and you are active with capsic, because the active components help to relieve pain capsics are my power of extra strength movement in a new package. transfer money without commission from a tinkoff black card to customers of any banks by phone number bank of the year in russia tinkoff is the only one everyone has things that someone needs to sell on avito with delivery all over russia first first i'm first first i'm first. no, i'm first. no, i'm

they talk exclusively about ukraine, but xi jinping talks about official moscow’s demand for a securitye sent to washington even before the start of the special operation, but the speaker formulated this idea incredibly absolutely today. the ministry of foreign affairs of china about the fact that nato had to be dissolved even after the collapse of the ussr, see i am a product of the cold war war nato was supposed to be disbanded after the collapse of the ussr is the main instigator of the crisis in ukraine the united states since 1999. spent 20 years five rounds of nato's eastward expansion of the number of members. nato increased from 16 to 30. they moved east more than 1,000 km near the russian border step by step, pushing russia to the wall the world does not need a new cold war europe does not need it any more the crisis in ukraine has been going on for a month now. much of the state of the international community is pinning its hopes on negotiations and a truce, as well as an early termination. fire nato should think about its role in matters of european, security and ukrainian.

it's also not great for xi jinping. i mean, again, he can lock down people.g economic impact at a time when xi jinping is trying for an unprecedented third term in power. that's going to take place later this year if everything goes according to plan. when you're dealing with this virus, everything doesn't go according to plan. maria: yeah. but mark, what is this power play that's going on, locking down the entire city that's causing ripple effects across the world. you mentioned this potential third term. isn't it a shoe-in that that the world congress is going to come and go and a he will in fact be given a third term. he said the other day reports say that xi jinping told officials to make sure china's economic growth outpaces the united states this year. the wall street journal is saying it's important -- >> the last time they tried something like this reminds me when mau said china was going to overtake britain and quickly the u.s. and they melted down spoons and pots and pans and built backyard steel furnaces. didn't work out too well. so look, you can

brett, keeping in mind the number one person watching this war is sitting in beijing, xi jinping because he wants taiwan. if we lose taiwan. taiwan is the political cork in the champagne bottle. if that comes out, the pla army runs rampant across the pacific just like in world war ii. that's the highway for them to threaten hawaii, split south korea and japan our treaty allies, and thailand, and awe lies to the south and xi jinping wants taiwan desperately for his own glory, or the people of the chinese communist party ands' watching ukraine. if he sees russia succeed in ukraine, he's going to go to taiwan and do it quickly. the good thing he's watching people coalesce over ukraine. he's watching the military equipment in ukraine. and mostly watching the ukrainian people fighting like heck and he's got to think is this what the taiwanese people going to do. and the implications in europe and eastern europe, it goes far beyond europe and goes into the indo-pacific where we have our tremendous national interests. so if we can unite and unite the west and cut putin off and his economy off,

it is one of the biggest crises facing xi jinping since he came to office 10 years ago.ring in stephen engle. how is shanghai going to be able to contain this outbreak? is it sustainable? how are we seeing the popular reaction or unpopular reaction? >> shanghai is similar to what we saw in hong kong on a larger scale. shanghai was unscathed for the first couple of years of the pandemic. then omicron hit and it has spread unlike hong kong which has so far avoided a lockdown. shanghai has seen phased lockdowns of the two sides of which were supposed to be ended the last week of march then the larger population on the western side of the shanghai was supposed to end on the fifth. shanghai is finding or and more cases, 19,900 plus just wednesday alone. they have been adding several thousand every day. they are also adding tens if not hundreds of thousands of isolation beds conscripting neighborhood convention centers and gyms and halls to add more and more beds because they are doubling down on zero covid. what is happening is the longer the lockdown goes, the longer you are

xi jinping and china thing that needs to be an all-out effort on infrastructure. the ftse 100 getting .1%, spanish ibex is lower by about .1%. we continue to keep an eye on the earnings, bring some executive interviews with the likes of credit suisse coming up as a see how that reads across. in terms of the other markets where watching the futures, after a day on wall street -- see how things squaring up. with the geopolitics and the acknowledgment the step by russia to cut pollution -- poland and bulgaria off considered to be an major steps. germany and italy tried to shore up their energy supplies. s&p five -- futures gaining .6%, making up some of the heavy losses we saw yesterday. csi 300, gains, up 3%. u.s. two year yield came up significantly yesterday, currently at 2.58, 10 basis points. a big pickup in terms of the year to date. in european natural gas futures, we want to highlight this, given what we are seeing, coming up 12%. francine: the energy space, we dig deeper into the sectors. russia goes on with its threat, if you don't pay, you don't get the ga

we have heard this a number of times from xi jinping that they are not walking away from this policytions that u.s. businesses operating on the ground in a situation where you have 300 million plus people under lockdown? michael: thank you. the american business community is telling us that they want to have more access to travel to and from china, and that hasn't changed with the china situation. and shanghai specifically is causing supply chain issues across china. there are implications for the china businesses and implication for global businesses. tom: demonstrate for us the extent of the disruptions for u.s. businesses and what they can do to mitigate some of those challenges. how severe is it now? michael: i talked to one ceo who says they are doing food production and that facility is distributed across china. because they haven't been able to operate at full capacity for a month now, they're starting to run out of products across china. it is food distribution across china. another company, for example, they are in northern china, but they reach the rest of the world with th

i like to point out that xi jinping and vladimir putin have done something no other living human beings has done and that's bringing republicans and democrats together on capitol hill. mostly the far left and the far right. the president confronts a bipartisan sentiment in the congress for both russia and china that pushes him in a harder direction. so, i think he has walked that line pretty carefully. i think since it became clear last fall what putin intended to do, the administration has done pretty well. and i think the assembly of the coalition of the alliance and mobilization of nato in both what they've done militarily and in terms of sanctions, is a huge achievement. there is no understating how important that is and frankly, putin was counting on just the opposite. putin was counting on undivided, paralyzed west with weak government and divided countries. all of that is to say i think walking this line of how much we can do, while still avoiding the likelihood of a war with russia, is an important one and i think they have walked that line pretty well. but as russia becomes mor

it is interesting to see, because i think xi jinping and his team were surprised to see how brutal andesome putin's invasion of ukraine has been they have been vacillating for a week or two. now the politics have come out solidly in favor of russia. if you look at what was censored on the chinese internet, anything that is pro-ukraine is censored and taken down immediately. all of the russian propaganda gets through. so on the political side, they are with the russians. on the business side, not so much. i mean, so far, we have heard, anecdotally, that all of the big chinese tech firms are complying with western sanctions on china, as are the big chinese banks, even though their government is saying, hey, you should be doing what you can to support the russians. i mean, a perfect example is the big taxi service, the sort of uber of china and announced right away they were closing in russia, then after pressure from the chinese government, they started back up the russian operations. emily: what does this mean, quickly, for the longer term, then? is it status quo for china's relationshi