on china. can you expand on that? >> no. he's obviously the president of the united states so he's the leading authority on china. and my fear is this will cause further jealousy and envy by my fellow china hands. they don't like anybody getting extra prominence. we all write books and all try to explain china to our various audiences. >> expand your back ground on china. from the previous administration, particularly what you offer to this administration in regards to input on china? >> well, i've been working on china input on china. >> well, i've been working on china either inside the government or paid by the government for 40 years. my book is kind of a memoir of how everybody including me had a lot of wishful thinking back 40 years ago that china would not quickly but eventually have both a complete free market and also a democratic form of government. roughly ten years ago that proved to be almost impossible. chinese policy has been worse ever since for the past ten years. so i kind of

china trade or. live coverage starts at 2:00 eastern on c-span three, online and on our free radio app. american history tv is in prime time. starting on c-span3, monday at 8:00 p.m. eastern, the supreme court historical society looks at the lives and legacy of chief justices john jay and john marshall as well as associate justices thurgood marshall and robert jackson. ginsburgppeals court on the history and evolution of the nation's highest court and the debate over original is him. , a discussion on southern culture in the u.s. fromhistory professor tennessee university. thursday, a look back 100 years at u-boat campaigns during world war i, starting with the 1918 u-boat attack. descendents of presidents ford, truman, mckinley, johnson, and roosevelt share family stories at the kennedy center in washington. watch american history tv next week on c-span3 prime time. ♪ busuncer: the c-span recently traveled to hawaii. join us on the weekend to watch our visit to hawaii on c-span book tv and america

/china trade war? >> i guess so far, japanese government has dealt with the trump pressure quite effectively. in terms of tariffs on cars, we've sort of, you know, managed to sort of marginalize the issue for now. so, and also, since we're direct neighbor to china, think the threat perception, not just in terms of, you know, trade and economy, but in terms of security, the threat perception is larger than other countries. so when vice president mike pence reacted in a very tough manner last week, there was a sense of welcome in japan. and, yes, whether the tools that mr. trump is utilizing is that effective or not, we're not sure, but there's a sense that at least now in the white house, you see a tough president who's trying to sort of deal with china in a very serious way. and a very different way as the other leaders used to. so it's a very ambivalent sort of feeling, but there's a certain sector, especially in the security and diplomatic community, that is quite comfortable, although there are worr

has adopted a new approach to china. we seek a relationship grounded in fairness, reciprocity, and respect for sovereignty. we have taken strong and swift action to achieve that goal. as the president said last year on his visit to china, in his words, " we have an opportunity to strengthen the relationship between our two countries and improve the lives of our citizens." -- ouron of the futuret vision of the future is built on the best part of our past. when america and china reached out to one another in a spirit of openness and french. nation went searching for new markets for experts in the wake of the war. the chinese people welcomed american traders, laden with ginseng and fr when china suffered throughur. century of humiliation, america refused to join in, and advocated the open door policy so that we could have freer trade with china and preserve their sovereignty. when american missionaries brought the good news to china's shores, they were moved by the rich culture of an agent and vibrant people. not only did t

being funded by china. that's what vice president pence is talking about. >> you can see it at c-span3 and radio app. michael pillsbury with us until 10:00 if you want to ask him about the china relations with these phone lines. i think were you being modest, but the president did speak about you and your influence of matters of china. i want you to hear what he said about you. >> and i like china. and i like president xi a lot. i think he may be a friend of mine. maybe not anymore. but he respects, from what i hear, if you look at mr. pillsbury, the leading authority on china, he was on a good show, i won't mention the name of the show rekrenltly, and he was saying that china has total respect for donald trump and for donald trump's very, very large brain. he said, donald trump, they don't know what to dorks never happened. well, one thing they are trying to do is trying to convince people to go against donald trump. because a normal regular political person that has no concept of what the hell he's doing

counties targeted by china voted for president trump and i in 2016, now china wants to turn these voters against our administration. and china is also directly appealing to the american voters. last week, the chinese government paid to have a multipage supplement inserted into the des moines register, the paper of record of the home state of our ambassador to china, and a pivotal state in 2018 and 2020. the supplement, designed to look like the news articles, cast our trade policies as reckless and harmful to iowans. fortunately, americans aren't buying it. for example, american farmers are standing with this president and are seeing real results from the strong stands that he's taken, including this week's u.s.-mexico-canada agreement, where we've substantially opened north american markets to u.s. products. the usmca is a great win for american farmers and american manufacturers. [applause] but china's actions aren't focused solely on influencing our policies and politics. beijing is also taking steps to exploit its economic leverage, and the allure of their large marketplace, to advan

greater increase there in the social groups china not a car society. but china is a class society. these are the homes of migrant workers people who build and service the new china. here it's not uncommon for three families to share one tiny flat. you know you would get a socialist country wheezy quality but i'm fortunately since the reform has started china has become one of the most unequal societies in the word the income gap is widening governments i feel have retreated some of the responsibility left the markets to takeover by the market does not always treat women kindly. private companies they would just refuse to high and challenged bearing age women and sometimes when women become pregnant they were thanked them because they don't want to pay their matelote leave and in fact the income gap has grown much bigger between men and women your old boss funk presided over the bloodshed and tear them square what would you say to the survivors of tiananmen square because so many of those did fight for what very saw as democratic change in china. in one thousand eight hundred nine t

we reached out to china and we offered china a stake in this wonderful system and china has rejected it. they've become less like us. they've become less of a market economy, more state dominated. they've less of a civil society, less free. and there is a real-- it seems to me, quite sudden, but it's been growing for a long time, a shift in the opinion in official washington. this is not republican versus democrat. this is quite wide, that china just didn't pan out the way we expected and that's where you get the debate, was it a mistake even to encourage them to join the wto in the first place. i think that the united states had no choice, but fact that the question was asked tells you the depth of the angst in washington over what transpired. >> i guess in 2001 there was this hope that we could sort of shape the rise of china, but this notion, i think, is collapsing in a rapid state. and i think last week larry kudlow here in d.c. used this term, trade coalition of the willing to contain china. so i think there's this emerging concensus here in washington that of course, before tha

and as a trade war continues between china and the us china is oil imports of u.s. oil in august china announced tariffs on sixteen billion dollars worth of u.s. imports of oil products including look at fide petroleum gas or l.p.g. and coal until now crude oil had been left out of the trade war china used to be the number two importer of u.s. oil behind canada and was the biggest buyer through the first six months of this year in june for example china imported five hundred ten thousands of barrels of u.s. oil per day according to the u.s. information energy information agency and that was approximately a quarter of the total of all of the oil exports that the u.s. shipped that month but last month september only thirty thousand barrels a day of oil were went to china and here with more is our. why is china veering away from this policy is it all about trade tell us well by there is a primary two reasons as china needs crude oil they have a growing economy and with sanctions on iran china is saying that it will continue importing from iran by china had previously i

and china. banning companies and banning technologies is probably not going to serve the long-term interests of the world well. shery: are you still a director at huawei technologies? how challenging has it become to advise chinese firms when you see this very tense environment? in australia. i am an australian director of huawei, one of three australians on the board. we have grown in the last six of $250om a turnover million per year to something like $750 million per year, so we are obviously disappointed as a company that we cannot compete in the 5g area, but nevertheless, as i have mentioned, we are doing very well with consumer goods. we are doing good with pillow communications equipment. we continue to be embraced by companies looking for our enterprise solutions. i think, as somebody who, in my political career, federal and state has always supported for your trade -- free r trade. the world will be prosperous and better off if barriers to trade are reduced. that companies are banned fr

about china. and frequently, china's integration into the trading system is described as shock. and in town, we hear more and more voices saying that it was a mistake to let china join the wto. so what are your views from that? what kind of opportunities? what kind of challenges has the immersion of china seen on the export powerhouse, and also for large foreign investors and so forth, had on the system? and was a deal made, the deal made at the time a good deal or not? >> trade policy is not a substitute for competition policy. and i think the world trading order has come to realize that. what do i mean by that? when china entered in 2001 wto, there were no guarantees on the competition policy. you have to understand the world trade organization is an organization about trading rules. let me just give you an example of the european integration. not to say that european integration doesn't have any flaws. but one thing i did, they did very well, was before they entered the ex-communist countries o

what china does is what matters. what happens with china's domestic demand drives the story. if we do see that these tensions continue to rise and china's exports slow, that china's growth shifts more to being domestically oriented, that is something that provides support for demand for a range of these commodities like iron ore, some of the base metals. central case, that we are going to see more support for demand. those markets are already quite squeezed. with got a bit of upside written into our forecast. the trade story could go in a different direction. we could see it weaken global growth. that is where the uncertainty comes from. i think that in large part the commodities space is looking good. haidi: i think best modeling suggests you might see a bit of stagflation in the medium-term. do you see policymakers being able to react to that? certainly. policymakers around the world are watching this carefully, and watching how the balance between china and the u.s. plays out. we have been watching what is happening in china. one of the things that is most clear is that th

election i've done a lot of this is where china china's market distortions china china china sea route china talking china from and he has good reason to be fixated the rise of china is showing no signs of stopping with a nation poised to overtake america as the next world superpower polls conducted across twenty five countries show why the spread recognition that china is the emerging power with the might to more than rival uncle sam to china overtake the u.s. some of them will be in the learn when i think china will overtake the u.s. china's got a good chance of doing that they were above everybody else people underestimate i am. the most powerful country now it's certainly the united states but i think china will have passage of a future but here's the thing china may well become the most powerful in economic terms the people are not so keen on beijing taking the reigns as the globe's moral compass and think the u.s. is still the best option is the world voice of reason trying to do what it's us would be in the heart of those miscarry. i lean more towards the usa for their democrati

and china wants a different america. china rejects u.s. allegations of meddling in elections. and i welcome to al-jazeera live from my headquarters in doha bay and it's a problem also ahead a nation divided republicans and democrats draw different conclusions from an f.b.i. report on president trump's supreme court nominee. than in the nation did with life changing injuries after last week's earthquake and tsunami as mass burials become a daily event and. some bob where tries to contain its worst cholera outbreak in a decade. the trumpet ministration is accusing china of trying to undermine america through political military and economic actions u.s. vice president mike pence of china wants to sway the upcoming midterm elections against president trump and response to tough american trade policies china's foreign ministry has rejected the allegations says spence's committed slander a white house correspondent committee how get reports from washington. in the very early days of the transit ministration the us president rolled out the red carpet to host chinese president xi at h

election i've done a lot of business where china china china china china seas route china china from beijing also hold a nuclear option up the sleeve it owns over a trillion dollars of u.s. debts because that cash in something washington has a problem there are talks for a g. trump summit next month where u.s. way out the chinese finger trap can be hammered out to then who'd a thunk it trump would make china great again. so what this means is that of course china is basically won the trade war in this in the first round and it shows that of course the american consumers are the ones that are going to be are paying the highest prices for this and at start time china certainly the u.s. has no position of strength going into these talks but china has done is continued interest size its exports to the us american importers are rushing in very very fast over the last two four years to get as much product and as possible before the tariffs hit and china is pursuing other trade relationships to continue to cause or economy to grow so this is what this shows is that the u.s. has completely f

,s., china, the china, japan and the eu are engaged in a trilateral process. they are looking at ways to share information. they are looking at a number of areas, one on industrial subsidies, another on enterprises, forced technology transfer, and the third issue on defining what are the elements of a market economy? can we have a common understanding of what a market economy is? involves theffort development of new roles. the u.s., the eu, and japan are engaged in discussions at a technical staff level about the development of new rules around industrial subsidies and facilities that bring us along and potential new rules about technology transfer. it is also information sharing and making sure that existing wto disciplines are properly enforced and maybe potentially improved. >> let's pursue that effort for a moment. i'm glad you commented on it. what is the game plan? eu, andsume the u.s., japan come to some sort of agreement on what they want to put the word in those -- put forward in those areas. what happens next? will you try to get other countries to j

and china. so far i don't see people concerned too much that there is a deal ready in the wings for the u.s. and china. haidi: you have got to be extremely optimistic to draw that correlation. thank you so much for that. president trump is certainly hailing the new north american trade deal as historic, but it is too soon to talk to china. with one trade dispute settled, can we expect any progress on the big one? let's bring in our next guest. evan, really great to have you on. extrapolate the positivity. some sort of structure around japanese, u.s. trade ties as well. any kind of positivity around china? evan: no. i think it will be the exact opposite. all these recent deals give trump confidence to think he can withstand making a quick deal with the chinese. i think it takes pressure on trump, especially the nafta deal takes political pressure from the farming community, and it just emboldens him to take a really hard line. so i think we should expect an increase in the tariffs on $200 billion

china's trade super highway. i'm rishaad salamat. >> our leaders are letting africa go to china. that is my view. i think we need to do it in moderation. while at the same time, maintain our country. there is quite a lot we can learn and gain from china. quite a lot. but i think we need to do it to some extent, not get china to come and take over our country. [applause] >> we do not interfere in the internal affairs of african countries. impose our will on african countries. attach any political condition on the economic aid to africa, nor do we seek selfish political gains in investment and financing cooperation with africa. [applause] rishaad: china is pushing back against criticism, the belt and wrote initiative loads up -- belt and road initiative loads up partner countries with debt. it also refutes claims it is aimed at strengthening beijing's global influence. the chinese president maintains the initiative as a tool for common prosperity. while the roads, rail and port infrastructure are needed in africa, the continent's debt is rising. about $12 billion in chinese loans w

it's china's fault but if relations do improve then certainly china had nothing to do with it so how come. yet the. scope of this is the trade war between china and india. states is heating up this and that is theory very unfortunate because the lack of close cooperation between the two powers makes it impossible because of resolve the north korean issue. trump is very aggressive right now with respect to beijing isn't ham he's taking some unexpected and have a hand in measures against china because i'm so wary down the markets are bracing for a new round in the tariff for that but what if all these threats are no different from what trump it with kim stores korea germany or what he did and he kept piling on threats until the two leaders finally matt and declared peace i wonder if he's planning to do the same with china i mean he will keep issuing threats until he makes a sudden you turn to or supply and he could couldn't he was both of the most about that the way i see it is a little bit different. under the obama administration the problem was that's from america's few point trade

it did not spare china completely but it did not name china a currency manipulator which was somewhat expected. anythinghis tell us about the split between the those looking at a more pragmatic approach? which can't might be prevailing at the moment? secretary isry seen as someone who seeks a more conciliatory approach. tohad been under pressure name china a currency manipulator but they did not meet the framework. the treasury is following procedure that it is in stark contrast to president trump who has accused china of manipulating the currency. he has said that china is manipulating their currency. the treasury says it does not meet the legal threshold. the administration is still looking for ways to rent up pressure on china. not signaling they are backing down from the economic confrontations, but at least on this front, china is getting a pass. front, wrapping up pressure, they are trying to withdraw from this 144-year-old treaty that gives chinese companies a better rate. what we know so far? know that the trump administration is submitting a notice of withdrawal. treatye with

to block a statement in the eu that would criticize china and the south china sea. shery: that was tom mackenzie. at 7:00e full episode p.m. friday in hong kong, or 9:00 p.m. in sydney and new york. stay tuned for that. now for a look at the stories on the bloomberg universe on tictoc. trumped -- kanye but it up with trump, and a claim made by apple. tencent looking less rosy. bloomberg.com's chart shows it spiral. among the most red on the terminal is a report detailing $1 trillion of threat to the corporate bull market. check out those stories trending on bloomberg online or on the terminal. this is bloomberg. ♪ shery: this is "daybreak asia," i'm shery on a new york. haidi: i'm haidi stroud-watts in sydney. let's get a check on the business flash headlines. halted talkson has with saudi arabia's public investment fund over the disappearance of a critical journalist. they were discussing a proposed $1 billion investment in his space company. the journalist hasn't been seen since he entered the saudi constable -- consulate. turkey says he was murdered in the buil

china? china techshowing valuations are pretty close to the u.s.. asian tech has been getting hammered along with other asian equities. you can see the spread has continued to fall. chinese say that the tech sector has bottomed out? grady: we don't know where the it looks a be, but little cheaper than google, for instance. if you're comparing u.s. to china tech, baidu looks attractive right now. i would say extending past china, in global fund, we whole samsung electronics. that's a situation where the company is clearly economically sensitive. were editing profit cycle for memory chips printed if you look past the cyclical downturn, the valuation is extremely attractive. we're seeing some of this in check -- in tech. attention to more some of the other chinese technology firms recently because of the selloff. >> there's a question as to whether china tech is being punished. ate's another chart looking the correlation between china and the u.s., starting to pick up a little bit. the u.s. is

china. how did washington's relationship with beijing get so bad. and what does the big chill mean for china, for america and the world? >> we've been talking a lot in recent days about the supreme court, midterm elections, immigration policy. but the trump administration's most significant decisions will be about u.s. policy toward china the big question is whether they will be marked by cooperation or conflict. the last time there was such a question, when britain confronted a rising germany 150 years ago, things did not work out so well. since the end of the cold war, we've been living in an era of almost no genuine great power competition, which has led to emergence of the dynamic global economy and a huge expansion of international travel, trade, culture and contact. and all this happened under america's uncontested supremacy, military, political, economic and cultural. well, that age is over. 25 years ago, china made up less than 2% of global gdp. today that figure is 15%, second only

confidence i mean russia china. is a need railway system and if american invests in it with their capital and their technology joins in i believe that will guarantee high efficiency and mutually beneficial. thank you very much for the conversation and i wish. some plot thickens the saudis now would. died in their custody after an interrogation that went wrong turkish media claim they have evidence of intentional murder nonetheless trump declares he's not going to walk away from saudi arabia will there ever be justice for. president i don't have space in the system. i've got. the system. very. different. most people in philadelphia only about two paychecks away from homelessness. seem wrong. but old rules just don't. let me. get to shape our disdain to come to educate and in. equals betrayal. when so many find themselves worlds apart we choose to look for common ground. pranking gave americans a lot of new job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a tea

you were right to say it was in south china sea. so it's at china's doorstep. it's not chinese warships that are going to the coast of california or to the gulf of mexico. it is so close to the chinese islands and so close to the chinese coast. so who is on the offensive? who was on the defensive? is is very clear. this is a very good example of american intervention into chinese internal affairs. >> chris: is talk about another flash point, north korea. does china agree with north korean leader kim jong un that any steps that he takes towards denuclearization must be matched by u.s. concessions on the other side and how do you respond to allegations even by president trump that china has relaxed its sanctions against north korea and is allowing goods to flow into north korea? >> china has voted in favor of all of the u.n. security council resolutions about sanctions against dprk. and we are implementing. >> chris: have not relax them. >> as long as these resolutions are enforced, we will implement them faithfully. >> chris: do you think that the united states

china denies it is detaining muslims in xinjiang. in response to the allegations, state television has been showing classrooms of supposedly grateful adults, willingly undergoing "re—education". "without this, i might have followed religious extremists," this woman says. but the bbc has seen new, detailed satellite analysis of dozens of suspected camps across xinjiang. few of them look much like schools. this giant compound is surrounded by a high wall with 16 watchtowers. we try to approach the site by car. look at this... only to discover that it's being expanded on a massive scale. it's like a city... then the police block our way. if this really is all about education, then why the effort to stop us getting close? the satellite analysts show us a more recent image. it is clear how much the site has grown. but the team is able to show that this one camp is part of something much bigger, by identifying many other similar secure facilities right across xinjiang. plotting their growth over time shows just how fast they're being bui

-china discussions. knocks thewhat global economy off course is something we have not foreseen, and that is what really does knock it off. kathleen: i want to ask you some is this questions. the challenge -- some business questions. the benefits of steel, how it is accruing. how is it going? great. it is going i am glad we did the deal when we did, because it has gotten us ahead of the curve as far as asset management is concerned, with the falling markets, falling revenue, falling margins. the industry is in a tough position. i believe you do not have to be big or small. being big or small is great. we were probably both too big, too much in the medium size. so it has been great and it is going really well. i am wondering about rising competition in your industry, particularly in europe. the rising managers like blackrock, what is the trend? what does it mean for you? martin: i think you are right. the industry is dominated by the big americans. for a's, they are talk on petition. wanted to bewe able to

round china and imposing unilateral tire of the chinese exports and also declaring china as its arrival and as a major threat to the us survival therefore i think president xi jinping is doing the right to really make the best of preparation and preparing for the worst to see in our view and i think the chinese military need to be fully mobilized to prepare for a fire those still down with the united states and this will be a tremendous amount of importance to mankind as a whole we would hope that the rest of the world will urge the united states backed down from this war mongering against china and both china and the united states will put a premium to peace and development and the united states should abide by the international rules rather than becoming a war in the china shop trembly united nations principles and international more like a final showed its very direct language being used by yourself and also the government do you think that things have not come to such a point an escalation that is going to help modish i suppose what reaction from the us. i note all miss as well why

what do we want to see from china? what does china need to do? >> will donald trump slogan, and he keeps coming back to this, is reciprocity. that china should extend to others, the same privileges that others extend to china. so, most recently, we have heard this in terms of well, if china is going to ban u.s. journalists and others from tibet, does that mean that chinese representatives can operate freely all over the u.s.? if u.s. information companies have to comply with all kinds of chinese restrictions, does that mean chinese companies can just really run around the united states? so, trying to come to some kind of bringing china into a system where it doesn't exploit its trading relationship but there is a real set of rules that bind all participants i think is where we are headed. paul: do support that in general?we don't have a lot of time but do you support this? >> yes. in general, yes. paul: because you think otherwise, china could essentially, get away with bad behavior and then we end up in a worse position five or six years from no

we don't know what is happening with china. china is the biggest importer of iranian crude. we don't know if they will bow to the administration or continue. they are still importing from iran. but it is a month to the day today that those sanctions will hit completely on iran's oil industry. david: i want to turn finally to onmy key who is on the story this chip hack. jimmy: the reporters spent more than a year on a piece that told us, based on interviews with current and former officials, ,ompany insiders, that china the people's liberation army, implanted small -- a small microchip in the servers of a committee called supermicro. those made their way into the supply chain and data centers. david: it is a microchip, not a software hack. have we seen this kind of hardware before? jimmy: not in this way. it is the most significant hack we have seen. hardwaree some backings like in this noted snowden-- in the release, for example. david: it was interesting to me apple, and, supermicro came up with very specific, very emphatic denials. that is not typical. jimmy: it's not. it

to contain china to back foot china our operations and our presence in first of all is warmly welcomed by the vast majority of the coastal states but secondly is fully accepted by the chinese time after time it's excuse me is it fully accepted my impression there will by their words the chinese version is this kid. then this is what they scared off unloose of bases right around china. drug war ships a provocation of law so they. i state clearly and with conviction america's commitment to seek the peace and security of a world without nuclear weapons. under obama nuclear warhead spending has risen higher than on to any president since the end of the cold. it's all magicians show because at the same time that obama is talking about that not only is he spending a trillion dollars to modernize u.s. nuclear forces but he's deploying these missile defense systems to encircle russia and china which makes it impossible to get rid of nuclear weapons and that climate everybody wants to look like they're tough say i'm going to be tough i'm going to show you know i'm not afraid of doing anything m

broadly blaming china for everything from military aggression in the south china sea to intellectual property theft to advance its global interests chinese security agencies have masterminded the wholesale theft of american technology including cutting edge military blueprints and using that stolen technology the chinese communist party is turning plow shares into swords on a massive scale u.s. media is reporting that includes inserting microchips into servers used by apple and amazon to spy on u.s. companies pensa also accuse china of religious persecution and human rights abuses cracking down on chinese christians buddhists and imprisoning more than a million muslim weekers in government camps and domestically while the u.s. special counsel robert muller continues his probe into russian meddling in the twenty six thousand u.s. election. pence reiterated president trogs claim made last week at the united nations about china and the upcoming elections to put it bluntly president trumps leadership is working. and china wants a different american version. pence accuse china of election

china unicom, 1.5%. china mobile come out with earnings. china mobile will not be good. that is the short explanation. china construction, why are we looking at this? anyway. i will talk about it. china construction are due out with earnings. throughout the course of this week. let's get rid of this and have a look at a broader read. it is how the overall macro stories are playing out. have a look at my gmm. it is on my terminal. we are -- we were down 2.2%. on the nikkei 225. in a lot of ways, that did not last long, did it? we are approaching a bear market. i will talk about the level in a moment. to give you a sense of how we are trading. futures pointing down. the dollar is moving up with the exception -- the hong kong dollar and the japanese currency. a haven trade. asia-pacific, at 150 1, 51. 148, 77. takes us to that 20% job -- dropped from the peak. 1% from that level. it comes back to what happened overnight into where we are the bloomberg dollar index back to levels last seen in the summer. in august. it will take a little bit for us to move above that and take

. , the south china sea, always was is like mike pence talking china as well. a lot to focus on the next couple hours. rishaad: it is a lot to digest. and against all this, we have the yuan dipping. that is a look at what is moving. yvonne: i will try to show you what is going on. csi down to 3% this morning. we are seeing the likes of australia also falling about 9/10 of 1%. taiwanese stocks also not doing well, down 8/10 of 1%. japan is closed for the holiday. the renminbi is the one to focus on. 689 is where we are at now. what thes in line with market was expecting when it comes to the yen fix. seems that they are following the trend like what we saw with the offshore renminbi instead of supporting reverend a. that will be a focus now that we see weakness in the currency. we are seeing the likes of most asia fx on the downtrend with the exception of the peso. bring you back closer to what we are seeing in china markets. let's look at the boards to show you what is going on. hong kong doing better after the worst week we saw since february, last week. csi 30

in china, the perception is a u.s. is trying to contain china. they have these opposite views, but it is not a trade war. it is an existential fear. and this is what we have to battle, because ultimately chinese people and american people are better off by america and china working together. but there are real issues, and the trade deficit is a simple number, which is not so simple. but when you look at five major issues from the u.s. point of view.1 is china's close markets . number two is the intellectual property theft of properties in china. three is industrial espionage, cyber threats. venture tech joint transfer, and the fifth is subsidized technology. real issues, but china is making progress in intellectual property and some of the others. we have to look at these areas and see where the ultimate trade can be. they making progress in ways to hack the united states as well? we are now seeing reports there could have been hardware hacking by china. could we be facing a tech war? robert: i think we are facing a tech war. as for the hack itse

ch china suffered through in -- when china suffered through in dignities during so-called century of humiliation, mercury -- america refused to join in and advocated open door policy so we could have freer trade with china and preserve their sovereignty. when american missionaries brought the good news to china shores, they were moved by the rich culture of an ancient and vibrant people and not only did , they spread their faith, but the same missionaries founded some of china's first and finest universities. when the second world war arose, we stood together as allies in the fight against imperialism. aftermath, america made sure they became part of the united nations and a great shaper of the post war world. but soon after it took power in chinese communist party began to --9, five years after we fought together, -- fought each other we fought together. , in the mountains and valleys of the korean peninsula. my own father saw combat on that frontier of freedom. but not even the brutal korean war could diminish our mutual desire to restore the ties that for so long had bound our peo

the trade war with beijing and washington saying china an targeting -- china is targeting the voters. china has a detailed plan in place to meddle in the u.s. elections and threatening to deny business licenses to companies that don't speak out against the administration. there is a lot in the speech that could make beijing angry. >> well beyond a trade war. will ripley, thank you. >>> a reprieve for hundreds of thousands fearing deportation. the judge had blocked the temporary protected status. it is for immigrants from sudan and haiti and nicaragua. it protects people from count countries hit by natural disasters or war. the trump administration denied that in the past. the judge said the decision may have been based on hostility based on non-white immigrants. the judge's decision usurps the role of the executive branch. >>> several police officers shot, one fatally, trying to serve a search warrant in south carolina. one barricaded himself in the home with children. officers were shot and they tried to help. officials say they did not realize how much fire power the suspect had. >>

yes, china is open to the world, but increasingly, on china's own terms. the wall was built to keep the outside world at arm's length. now, the long centuries of isolation are over. today, everything here is about outreach. china is building an immense new transport network, the belt and road initiative, to spread its goods and influence worldwide. yue kexing is a small cog in this vast project, working on a new airport in chengdu. translation: i feel extremely excited, and ifeel the weight of responsibility on my shoulders. i understand too, for the country's development, we need to make personal sacrifices. 0ne sacrifice is that he is separated from his daughter, yiling. she is in africa, working on a new airport for zambia, part of the belt and road initiative. it can increase the infrastructure in china. i think it is win—win, two winning things. still, as chinese technology starts to become dominant, the west increasingly sees china as a threat. this intricate dance for 100 driverless cars was staged by china's rival to google, baidu. and now, baidu

where watching china. the report warned that they would continue to watch china and their currency moves. the report said that while china intervention any of the centric was limited, it warned against further interventions. so you have the treasury department saying that manipulation doesn't reach the legalistic framework to be named a currency manipulator. but president trump said yes, china manipulates the currency. it looks as though the white house will continue their pressure on china on front from trade to the military, but at least on the front of currency many place in, they are holding their fire for now. haidi: as you say, the administration able to get a jab at china on another front. they previously given them discounted shipping rates, so what is the issue here? greg: it's another front for president trump to escalate his economic confrontation with china. the president at the white house today said they would -- give china a discounted shipping rate on small packages to the u.s.. business gr

-- china? eric: we should not put the cart before the horse just yet >> the announcement -- just yet. the announcement was just yesterday. it still has to go through the u.s. congress, not to say the canadian parliament and the mexican legislature as well. we have a long way to go before we see the endgame on this particular phase. they ares as though looking ahead toward the ultimate showdown, if you want to put it that way, with china, which is perceived, in washington, as the primary threat in terms of the global economy. these pieces are being put together as a puzzle. i think you are quite right that china is the ultimate target in the end. >> i want you to take a listen to what president trump had to say about this success -- the success of his hard-line strategy on trade. president trump: i'm using them to negotiate, and hopefully we can make a great deal with china, a fair deal and a reciprocal deal. >> and the treasury secretary mnuchin has come out saying the same sentiment, that tari

two most powerful economies are talking rather than threatening each other in discussions with china's premier league shinzo our base said he wanted to lift relations to a new level cool so far from competition which corporation relations between japan and china that is in the process of entering a new era. china is japan's biggest trading partner the volume of two way trade could grow even further given the number of business deal signed here this is a relationship marked by historical hostility and rivalry but both sides agreed to work towards easing tensions in the east china sea where japan and china claim sovereignty over a cluster of tiny uninhabited islands. that dispute led to a wave of anti japanese riots in china six years ago but on friday all that was forgotten. the china is awaiting two further strands of the positive interactions as to pan yan she learn from history and the face forward to was the future. the present was also on our mind during his talks he said japan was paying close attention to human rights in china increasing uncertainties in the two countries respect

when china suffered throughr. century of humiliation, america refused to join in, and advocated the open door policy so that we could have freer trade with china and preserve their sovereignty. when american missionaries brought the good news to china's shores, they were moved by the rich culture of an agent and -- ancient and vibrant people. not only did they spread their faith, those same missionaries founded some of china's first and finest university. when the second world war arose, we stood together as allies in the fight against imperialism. in the aftermath, america in ensured china became a charter member of the united nations, and a great shaper of the post world war. soon after it took power in 1949, the chinese communist party began to pursue authoritarian expansionism. it is remarkable to think only five years after we had fought together, we fought each other, in the mountains and valleys of the korean peninsula. my own father saw combat on that frontier of freedom. not even the brutal korean war cou

not as rapidly as china. there is a whole bunch of problems with domestic to moment at home so the chances that india will replace china and become the dominant force of growth in the asia-pacific region is not something we will see a to realize in the next five years. you for your time. some of the headlines on the british pound because we saw it surge on that headline coming from the times saying that theresa may has struck a deal with brussels. to give financial services countries continued access to the eu after brexit, we are seeing the 10 year yield also moving and gaining in ground, rising above that 3.1% level, extending gains for another session. the british pound also moving on the news while treasury yields are higher. is on news that british and european ago she does have reached a tentative agreement as well as the exchange of data that is according to sources that talk to the times. this is moving markets. at the moment. 20 more to come. this is bloomberg. ♪ shery: this is daybreak asia. paul:

correspondent and china expert caleb bop and gentlemen welcome we love covering china and caleb you talk about it about every other day and good on china for making such great economic progress but one of things we always question around here are the numbers so what i say the numbers matter they are important in china we actually question more about those numbers than other countries just given the close society and like if the g.d.p. numbers are correct if it's based upon real data that we may be can't see so i suppose there are sort of growing pains in china opening up here and i'll attribute this skepticism by some of some of these numbers to the growing pains but at the same time this new social credit system seems to be trying to fill a gap in numbers that do not exist at the current time and that is things like credit scores for millions of chinese who have no or very little such credit history so the chinese government is creating this new system steve explained it to us how does it actually work. well ok this is orwellian in nature and it's right out of a science fiction movie an

and trying to open up deals and china why can't we do deals with china right there recognise the difference between trade and colonization so trade is like for like. africa's getting something in return in their trade relations with china colonialization is like we take all your natural resources and you get nothing that's colonialization but africa does not have the perception that that's what's going on because it's easy to understand that what they're getting from china has enduring value it's hard money probably could put it in those terms and so it has enduring trade value going forward and this is what is lost on a countries like the united states which is mire in the perception of money or you get something for nothing but some of the last shows we've done where they have this sort of thing of they don't actually want to help people they want to feel good about themselves and by giving them some money giving them some aid and not actually developing it here it's gone and president says that we in ghana must build roads bridges railways ports schools and hospitals and we must create j

they are insisting that that part of the china supply chain exits china to a considerable degree. i think they are much less worried about the rest. rishaad: where do we go next? this was meant to sort of stop just after the midterms, but it looks like it will go on. this is a deep-seated rivalry coming to place right now. they are not competitive partners anymore, they seem to be just competitors. >> i think logically, we will get tariffs on u.s. imports from worth,the $250 billion that haven't been subject yet. i think early next year, there will be a 25% tariff. if the chinese are viewed as retaliating the way the white house looks at it, so if we get another step devaluation of the renminbi against the u.s. dollar in response to the tariffs, the risk is the level of the tariff goes even higher. in that sense, i think it will get a lot worse over the next year or more. yvonne: we have seen broad-based fiscal measures that were announced this week as well. what did you make of it? the market does not seem convinced it is enough.do they need to do more to shore up confidence ? >>