it has enjoyed surging sales, am am amid china's travel but it's not easy for people from mainland china to obtain tourist so what is behind this passion for traveling abroad? the various motivations of chinese tourists, reveal much about modern china. in this episode of asia insight, we follow a day in the business of shanghai's most popular travel agency. in the cold of january, preparations are underway for the chinese new year this is shanghai's most popular shopping district. and this is a branch of spring tour. a staff meeting before the shop opens. sales strategies being discussed, because the chinese new year holiday is one of the most profitable seasons of the year. it's 9:00 a.m., and the doors open for this customer looks as if he has been waiting for the shop to open. and here is the next customer. this man runs a construction materials company. but times are hard due to a slow down in the real estate industry. in 1997, china lifted the ban on overseas group trips, but this family did not have the time or money to go on holiday, until they the trip to the united states will c

analysts s say persistent conces over c china are the reasason. companieies also see the recent stronger yen lowering the import prices of raw materials. >>> let's get a check on the markets. the nikkei average finished lower as a stronger yen weighed on investor sentiment. giang nguyen has been following the moves from the tokyo stock exchange. >> the stocks moved without clear direction. u.s. added 215,000 jobs in march, better than expected, but didn't fundamentally change the fact that the fed would move cautiously in raising rates. that's keeping pressure on the dollar. the stronger yen weighed on stocks especially those of exporters. let's see the closing levels for monday, april 4th. the nikkei finished a quarter percent lower at 16,123. the first straight session of decline. the broader topics ended 0.1% higher. mazda felt one of the biggest drops. 5.of % lower. alps electric down 3.3%. sharp rose 4% following the signing of a takeover agreement with taiwan's hon hai industries over the weekend. the dollar weakened further against the yen.

big day for china. a flood of economic data due in 30 minutes, likely to see this lows pays of quarterly growth in seven years. even know, we may see signs that the slowdown is stabilizing. we have a look at that what we looking for here? >> maybe a slightly better number. growth has been better than expected, seeming to stabilize over the last couple of months, positive on real estate. better numbers on inflation, , economistsl told are looking for a 6.7% read. i think the mood at the moment is things are stabilizing, even if just in the short-term. rishaad: stabilization is what we are looking for, but the questions will be raised about the veracity of the data. economists will be all over it. all we can do is look under the bonnet. let's see how services are traveling, how consumption is moving on, how much of growth has been driven by fiscal spending. rishaad: retail sales are also out, and we should get some lending figures, too. >> if we see a big uptick in lending and loans, that would be assigne

china tried to make south china sea to be chinese territorial waters, but china a does not us ththe territororial water. if china used the water, it defined the 12 nautical miles fromom its territory, , but chi wants to control all of the water in the south china sea, so china is proceeding building artificial islands and also the military facilities on the islands. every country has to solve the problem by discussion, not by violence. japan has to show intentions, international society cannot accept those kind of ideas with other countries. >> that was boji ohara with the tokyo foundation. >>> police have arrested a man in connection with a finer one of tokyo's most popular drinking districts. the suspect admitted to entering the building where the blazeze started. the fire broke out on tuesday in an area called golden guide. it spread to two neighboboring buildings. one woman suffered minor smoke inhalation. on wednesday police arrested a 66-year-old man on suspicion of breaking into the buildlding minunutes before the fire start. security camera footage showed a man resembling the suspect ente

china had some data out overnight. the biggest surprise was the surge in new loans. >> this chart shows aggregate financing. expectationghlight and reality. what we saw in aggregate 2.34 trillionaled yuan in march. this is a credit helped home sales jump a 71% in march from a year earlier. a real estate development surge was 6.2% in the first quarter to get the property market a boost. on the one hand, this jump in could bet -- credit seen that the stimulus is working. on the other hand, it also raises concerns about the durability of this recovery. how much is financing propping up zombie companies? how much is china relying on data for growth. the imf in its latest report trilliona may have 1.3 dollars of risky loans with potential losses equivalent to 7% of gdp. it is that bad a data that is one of the things at the center of the debate about whether china will continue to drive global growth. thank you very much. up next, a look ahead to a super sunday. two major market moving events are due to take place. but will

haven't been to china. as tough os as our president's in-box may look, i am sure the leader of china xiajing ping would trade in boxes in a new york minute, so to speak. we have our political problems, but i've heard in the course of my career, i've heard several times where people were counting out the u.s., used to be for economic reasons. now it's because of our nasty politics. i would not want to be a u.s. diplomat overseas explaining the context of some of these discussions that go on in the so-called debates. we are going to have to kind of straighten up a little and try to work this through. i would certainly start by supporting what jessica said, which is we've got to sort of get our internal political things straightened up. there used to be this quaint notion that politics starts at the water's edge. politics just gets going at the water's edge. i think jessica was very kind when she only mentioned three examples of undermining the president. there are about 300 of them. i think people need to und

and the trend is going up everybody is talking about the rise of china and the power of china. is u.s. government prepared for a declining china and what happens south if a chinese citizen is a tired of the chinese government to give away a blank check to the african governments and the money to everyone else but solving the problem domestically? is the government prepared and how could react to that? >> no. [laughter] i agree with the premise of your question turning it is this enormous thing and they're more concerned about the trend you are talking about and then by the way weaken the chinese economy is in just cited to suffer but other countries i would also be concerned if china guided to the position to really talk about dash demographic trends would use the rise of nationalism or a government trying to get more favored? and try to be even tougher with its neighbors or vietnam? so i think if you raise important issues but i am sorry to say i don't think too many people are understanding best war following it we need a much more comprehensive approach to china and be caref

sales in greater china fell 26% in the latest quarter. tracks china sales. blue is without greater china. we are seeing both now below water, and that loss seems bigger and china than outside the mainland. if you go back one year, greater china sales skyrocketed 70% or sales and exceeded overseas. there has been a shift in tone from 10 cook on china. he once said china's economic growth troubles had nothing to do with apple, but three months ago he warned sales showed signs of economic softness. we are seeing that, particularly in hong kong. tim cook saying the weakness in the greater china region due to what is going on with the hong kong dollar with it being pegged to the u.s. dollar, also the hong kong dollar strengthening in comparison to the yen. that is obvious he hurting chinam, shopping rates in , and that is hurting sales in hong kong as well when it comes to jewelry, watches. we just got dated this week saying that we are down more than half since that mid-2013 peak when it comes to retail sales in the city. the chief source of strength, one of the

now you do have a more pro-china or china me -- china friendly newspaper. it is good to have both. emily: what are you telling private market companies in china about the environment? are you telling them to do anything differently? >> we love what internet has been doing in china and the changes it has brought. almost all our investments are internet related. as some continue to grow and serve customers well and take advantage of technology and the efficiencies you can bring. we are happy with our portfolio in china. emily: are you talking about unit economics? >> we have to. we do look at that. we invest in sectors. for each sector we have metrics we track for the portfolio. we benchmarked them against sectors. we look at how well they are doing as far as lifetime value over a 12 to 24 month period. we look at its numbers and give them advice accordingly. most of our portfolios have been healthy. we are excited about that. emily: there has been a lot of volatility in the public markets here. but that has sort of stabilized. though we're hearing about startups having trouble raisi

vietnam is demanding china move an oil rig, which is in a disputed section of the south china sea. vietnam's foreign ministry spokesperson announced on sunday that the chinese rig was transferred into waters near the gulf tonkan. jurisdiction remains unclear. china had also moved the same rig to waters clo se by in january. stating it wants plans for drilling to be stopped, and the rig to be removed immediately. the rig also caused tension in 2014, when china placed it near the disputed perisal in the south china sea. china claims virtually all of the resource rich china sea, also have rival claims to certain areas. vietnam's new prime minister phuc who was sworn in on thursday, completing a national leadership change, the communist country goes through every five years. >> translator: before the flag of the mother land, before the assembly in front of the people of vietnam, i swear to give my utmost loyalty to the community, to the people, and the constitution of the socialist republic of vietnam. >> phuc is 61 years old and was former deputy prime minister. parliament approved hi

the movie business is booming across china. shopping malls have popped up everywhere, and with them, theaters. 22 new movie screens open every day. that's right, every day. in the last five years, box office receipts have grown a staggering 350%. it's created a kind of a mass hysteria, and something china's never seen before: star culture. li bing bing has been described as china's angelina jolie. it feels as if the movie industry here in china is getting more and more like hollywood. >> li bing bing: the-- the speed of the development, you can't imagine, even for us. >> williams: it's changing so quickly. >> bing: so quickly. you-- >> williams: and-- >> bing: --even you don't even react, it's already changed. >> williams: and transformed into a multi-billion dollar industry. chinese studios produce over 600 features a year: action movies, science fiction, thrillers. behind them is a group of pioneering movie moguls, like dennis wang. he once worked as a chinese food deliveryman in new york, and is now chairman of the huayi bro

china's three chilly in dollar bond market. -- china's $3 trillion bond market. we have a great story which has gone wrong in the bond market. china have driven up yields for the nine -- 49 of the past 10 days. this is spread between a seven-year in government bonds. we have been expecting and a lot of economists of course say it will get much worse. for the first me part of the show, derek halpenny . we never like news. we are also getting some news from the ecb. they are saying that lending conditions for home loans have improved. the negative rates have hit the banks with profitability. they have said in the past that this would depend on how long they would be in place for. we have good news on the fact that kiwi may be working but not as well as we thought it would get we have a bit of china brewing. -- it would. we had a bit of china brewing. derrico with the event risk that with theed -- derek: ient risk that have passed -- think the fact that it remains so resilient yesterday is an indication about the crude oil supply versus the man's story. -- versus de

china isnology but suspending -- china's spending spree poses a threat to authorities. this is a surge in outbound m&a due to the trajectory of the yuan. have seen the yuan strengthened against the dollar, we have seen it weaken versus a basket of currency. some are saying weaker yuan against the dollar as well. guy. guy: nara, thank you very much. chinese companies are being rational. the growth project three -- the growth trajectory materialize, you need another engine of growth if you're running a business. bhanu: that is the key reason why chinese companies are headed to indonesia. one could question the reason. china is looking for growth outside because it is difficult to grow organically. what i don't think this is is a sign for all chinese companies to run for the hills. there is a negative -- there's a they have weakened the currency. china has a massive growth problem but i don't think it is a near term play at all good china has enough preserves to meet its liability demands. down andiven by paying unwind the trade as opposed to companies or retail investors

that same thing happened in china. china has grown its banking system 1,000 percent in 10 years. it only has 10 or 11 trillion of gdp. what's happening today in the last year they went to 100% lending so you saw in the tier one cities real estate went up 70%. point being, they are going to have a crisis similar to what we had. not the interconnectedness and all the problems the u.s. had with europe. but it's just a cycle. they are in. >> different place in the world than we are in kawstles cycles. they are focused on the symptoms. gary: you called crash in 2008. when you look at china and and t out many times what you see there in terms of the nothing bank financials. three years from now, what happens in china and why does it matter to viewers here who invested in u.s. markets? kyle bass: when you look at emerging markets back in 2008. 15% of gdp. in dollar terms day it's 37%. the emerging markets are important to your portfolio. if you look at global gdp growth and most of that growth is e.m. most of that with south america, russia, brazil. but you want to focus on asia. asia i

let's talk about china now. the billionaire says china's debt feel economy resembles 2008..' in 2007 and speaking at asia society event, soros said it should be viewed as a warning sign. hans: the founder of warned about a potential crash in china six years ago. but now he is much more bullish. francineto friend lacqua, he no longer has the concerns. hendry: china does not concern me. i think china has the power to without any catastrophic consequences in terms of having to revalue its currency. i think we are safe. i think china now is beginning to see statistics with demonstrate that. hans: joining us now in london, charles newsom. charles, when you take a look at what you hear out there on c hina, what is your read on this? so much data comes out of china. there is so much we are not quite certain that we can believe. what do you trust and what don't you trust? >> i can't help thinking of late, china has initially wanted to create a manufacturing recovery. and now, it appears to be boosting asset values and property prices, which always begins to worry me. i think one need

including with china. second, you asked very appropriately about enforcement and congressman sherman brought up a very important point a moment ago, some of the concerns that we've had with past trade agreements, i think it's a very well taken point. unlike previous agreements, tpp actually includes, a clear rule on rules of origin. we want to make sure that parties that are not part of tpp can't go to another country, have a few things done, and then have the product benefit the tpp rules so for example, china finishing something in vietnam, that's why we insisted the rule be part of the effort. but it has to be implemented. and everything else has to be implemented. that's why we've asked in our budget for a significant portion of resources to go to implementation. we want to make sure it's done seriously. finally i agree with you that look we can debate the economic merits of tpp. and no trade agreement is going to be perfect. i think the larger challenge we face is 95% of consumers live outside of the

a key reason for this is china's economy. growth there is weaker than it was so companies are importing less. many raw material suppliers are now left with piles of unsold stocks. china's problem is a global problem. it is the iron or capital of the region. most of the town's residents work in the mining industry. 10 years ago iron was still in demand. the companies flourished and so did the town. then demand for the raw material dropped. work slowed. she grew up there and her family has long worked in mining. she remembers many good times. she spends a lot of time out in the community >> it is been the hardest hit of all the commodities. more than 6000 declines. >> job losses of the big fear here. iron ore is planning to cut thousands of jobs. some 32,000 jobs in south africa are said to be under threat. the big problem is the industry's dependence on china. more than half of the material mind here went to china. demand has now dropped. >> this whole town was built upon the iron ore mines. >> nearly everyone is affected. sho

china is still growing. it is still growing despite the slowdown in china. it is still a pretty gradual slow down and we project the slow down to continue to be gradual. china is continuing to grow and continues to be a source of demand in this region. evenof these economies among most of the major commodity exporters, the policies they followed have been prudent and they have managed to weather the storm thus far. weatheringo is not the storm? >> if you look at our projections going forward. largetlier among the economies is china -- is thailand. thailand growth rate will continue to be relatively low, certainly much lower than other large aussie on economies -- asean economies. -- this is a commodity importer. it is mainly because of lower demand from some of its major markets -- japan, in particular. it also points to some deeper structural problems. someecond is there are smaller commodity exporters -- mongolia is one that comes to mind -- that are having greater difficulty dealing with the current situation. rishaad: if we do see a sharp slowdown -- i a

do you have the china market? >> we are sort of neutral on china. i agree you have to do the full math on the numbers. they are also diversifying their economy. aside from just moving less -- away from investment and toward consumption. they are starting to make significant acquisitions outside of china, particularly in the u.s. that's a benefit to many u.s. companies, too. we are in a better competitive situation. the total land to cost gap has narrowed. and the manufacturing competitiveness. aside from the way politicians focus on that, i think that shift is coming back to the benefit of the u.s. because they had to raise wages. gary: the emerging market was the big surprise of the first quarter with the bounceback economics. should investors have money in the he mening market? >> we have a neutral rate on the he merging market? it's an important part of a portfolio from a diversification standpoint. activity in he morning market reinforces to investors to not make mistake people often do. market of any variety care more about better or worse if t

overs largest competitor in china. it operates in 400 cities across china with over 14 million drivers. in 150s a presence chinese cities. they announced a new partnership with lyft to take on uber internationally. how do they plan to keep ahead of uber in china? i sat down with jean liu. travel,: chuxing means commute in chinese. we are serving a hundred people to commute. emily: you are often referred to as the uber of china. how do you see yourself? we are serving 800 million people with a variety of, so that gives us a unique business model. from taxis.ion come we do buses. we do china specific products that we can utilize the existing network in a more efficient way. cities in are in 400 china. what is the next phase? jean liu: the next phase is to invest more in artificial intelligence and machine learning. based on the 11 million ride scale, people should not make decisions anymore. it should be machines making decisions. the network will get smarter and smarter everyday by itself it i'm saying that because what

china for many years. there is a controversy about her potential ties to the chinese government. it is unclear, twitter says she is just there to help with ad sales and data. what you make of this? >> a lot of chinese companies are looking to expand beyond china, so twitter and facebook, pinterest are interested. having someone on the ground in china for twitter makes sense from an ad sales standpoint. it is an option if facebook did get into china, twitter would have someone on the ground to look at what has happened and tried to do something for twitter. emily: are you optimistic that will happen? we know someone was presenting at the facebook f-8 conference. >> i think what mark has done in speaking in chinese, and then he last year he gave a lecture in chinese. doing his job in tiananmen square, he has done a lot to impress the chinese government and chinese internet industry leaders. emily: really, i have talked to analysts that say it will never happen. >> never is a very strong word. i think certain

and what the future looks like for the electric vehicle in china. that story coming up. >>> an adid you want resignation at price line. the online travel company ceo darren houston left the company after an internal investigation found he had an improper relationship with an employee. the investigation concluded that houston broke the company's code of conduct. the company says his resignation is not related to his operational or financial performance. >>> ford reported record profits easily beating wall street estimates. net income more than doubled because of strong demand for trucks and suvs as well as low gas prices. the automaker had its most profitable quarter in europe since 2008. ford's ceo says demand is healthy worldwide. >>> when we look at the markets around the world, here in the u.s. for example, the macro economic fundamentals point to a very healthy market and a very healthy industry that we have right now that we could see for the next couple of years, barring any kind of fiscal or policy shock. >> ford shares today up more than 3%

would it be china? i wouldeven in china, rather play the insurance companies, real estate, and even the brokers as opposed to the banks. there is still a bit of a debate about the asset quality and chinese banks. -- asset quality in chinese banks. i do not see that situation being resolved. we have those record high statistics late last week. is that good news or bad news? it is good news if everybody pays it back -- and can. and you can grow enough to be able to pay it back. adrian: at the moment, it is viewed as kicking the can. the problem with the chinese banks, those who believe in them believe -- we cannot get any resolution in that. the accommodative stance of the reserve bank in india is very helpful. it will take us away from looking at the nonperforming assets to looking at the growth opportunities. banks in malaysia are quite interesting. angie: i want to get your thoughts on the property market in china. thank you so much, see you in 20 minutes. a leading suitor emerges for yahoo! as some bi

china sea. the general said a group of military and civilian officials were said to inspect construction projects. the philippines and taiwan and vietnam also claim part of the chain of islands. it wouldd states said launch joint patrols of the area. a british airways flight has landed safely at heathrow after being struck by what is thought to be a drone. they reported an object hitting the front of the airplane. it is thought to be the first time that a drone has come -- collided with a airliner in the united kingdom. the association called drones are real and growing threat. this is bloomberg news. angie: key data coming out this week. china is issuing data about prices. we certainly saw support for first-quarter gdp figures out of is a, the thing is this credit fueled kind of growth. property prices are recovering. is it sustainable? seee definitely expect to these prices continue to increase in aggregate. some of the stimulus measures that have been put into action are starting to yield som

china is different. essentially, what you are going to have is china according to some imf reports is looking at near thailand-type debt levels. some point, right now the corporate's cannot even pay a portion, the interest. rishaad: so what is a telling you about the overall economy? a bank should be reflecting what is going on on the ground. guest: they are. essentially, the government has been using fools of capital, the insurance companies, the stock market, the last big pool of savings is the banks. that is what they are now starting to tap. they are going to reduce the reserve rate requirement. keep squeezingto that but at some point, they are going to run out of cash in the economy will grind to a slow -- reporter: so reducing debt mandatory minimum, does that create more financial risk? guest: of course, but that is only that but the iceberg. the amount of implicit debt in the system is huge, and it will gradually float through various channels onto bank balance sheets because it is the only place

these are concerns, obviously, for overall china, overall china's economy. the concern, i think, is a little bit blown out of proportion. china still has major opportunity sets to handle this. part of the reform package that's been focused on in the most recent five-year plan that came out a couple months ago really does focus on the reform of the soes, which are the most efficient state-owned enterprises. if china can accelerate those reforms quickly, i think china still has an opportunity to defer any sort of critical, you know, problems with regard to debt defaults. >> yeah, you said got to dig deep, due our due diligence and look for those nuggets. can you give our viewers a few clues? >> i'm more focused on the offshore china bond market, which i believe represents major opportunities for fixed income investors. it's a better way to go in and get some exposure initially. it tends to have lower volatility. the offshore bond market is a wonderful bond market. it's mostly u.s. dollar denominated. our china bond fund in the united states focuses on higher q

china. you were looking at the china separation and how that is on track. track to be spun off by the end of the year. overall, sales of 5% and kfc unit sales are a bit behind estimates. a little bit of negative news there but the big beat on china, sales seems to be the headline. scarlet: and they are raising their profit growth guidance to 12% as well. it is all about the china numbers and comparable sales, isn't it? is.t: it it's half the revenue and almost half the prophet. as does china, so goes yum! brands. everyone is looking to see when they split this off, what does it look like. tracy: we know that china has been on a buying spree. is there something in particular about the yum! brands that attract china to that company? there's more local competition, but is still a huge player. it has been around and is an established brand. it's a well-known player in the market. scarlet: because it is well-known, it is not the sexy brand at once was when it launched in the 80's. guest: ucf, whe

china. >> bill, including with china we have tremendous power with china because they suck our money out. they suck our jobs out. we have rebuilt china. you look at the bridges, the roads, the train systems, the airports they have. it's like we are now a third world country. they took that and much of it came out of our country. >> but here's the deal. if you tee the chinese off by a trade war or slapping tariffs on their products coming in here, they will be less incline to do help with you north korea and that was one of the things you mentioned in your policy address that you are going to mobilize china. >> they don't help us now. >> how are you ever going to get china to help us neutralize north korea if you saber rattle in the trade area? >> by telling them if you don't help us, it's going to be over. we're just not gl g. >> you are going to threaten them? >> it's not a threat. it's a fact. we have a trade deficit of $505 billion a year with china. they are just ripping us, left and right. and on top of it, they won't help us with north korea because who wants to get into that f

and something china's never seen before. star culture. li bing-bing has been described as china's angelina jolie. >> it feels as if the movie industry here in china is getting more and more like hollywood. >> the speed of the development. you can't imagine. even for us. >> reporter: it is changing so quickly. >> so quickly. you don't react. it has already changed. >> reporter: and transformed into a multibillion dollar industry. chinese studios produce over 600 features a year. action movies. sci-fi. thrillers. behind them is a group of pioneering movie moguls. like dennis wang. he once worked as a chinese food delivery man in new york. and is now chairman of the hui brothers one of the largest studios in the country. the movie business has made him a billionaire, a capitalist with chinese characteristics. last year he spent $30 million on a picasso which he keeps in his pocket and in one of his other homes. so that's the picasso. and you bought it from the goldwyn family who owned mgm studios in hollywood. so it is not so much a passing

>> "global 3000" goes to china. the country needs more children to help care for an aging population. and we travel along the mekong in cambodia in search of the last river dolphins. but first, what happens when baby-making becomes a business? the history of in vitro fertilization began just 37 years ago. the first baby conceived through in vitro fertilization. in july 1978, the birth of louise joy brown made headlines around the world. baby-making still requires an egg and a sperm cell. but apart from that, there's now a dizzying array of methods for human conception. assisted reproductive services are a booming business and north america is its biggest market. revenue is expected to double to 17 billion euros annually in the coming years. >> there's life in this tank. deep-frozen fertilized egg cells, early-stage embryos. the ct fertility clinic's main asset. noah's life originated in a tank like that one. his parents paid $150,000 for him, and the same amount again for his brother tristan, two bright and healthy

china claims sovereignty over all china sea islands and the waters. a conservative leader in the house warns publican party leaders not to change the rules to allow somebody other than donald trump or ted cruz to win the party nomination. , jim jordanm caucus told c-span, primary results show republican voters went and anti-establishment candidate. the debate tonight between bernie sanders and hillary clinton comes days before next week's new york primary. hillary clinton is trying to snap a seven state losing streak. senator sanders needs to make up ground in the race for delegates. the latest polls show hillary clinton ahead by 10 points. powered by our 2400 journalist and more than 150 nerves euros, i'm mark crumpton, "bloomberg west" is next. emily: i'm emily chang, and this is "bloomberg west." coming up, the stage is set between the tech industry and the government. this time it is microsoft in the spotlight, doing the -- suing the doj over a law that stops the company from telling customers when the government wants to access their data. how do

we had some china gauge figures. the china economy operation is stable. what we heard yesterday from s&p, downgrading the chinese economy. given the breaking news we had a couple minutes ago, let's check in on the markets. this is a picture for european stocks at the moment. the new quarter was fresh to clients. down 3.5%. investors today really looking to key u.s. jobs data for indications of the health of the u.s. economy as stocks slumping also with oil. oil at 40.03. nejra: china's official factory gauge is unexpectedly jumped, showing improving conditions for the first time in eight months. the manufacturing purchasing managers index rose to 50.2. it suggests the government's fiscal and monetary stimulus is kicking in. meanwhile, sentiment among japan's large manufacturers have dropped to the lowest levels since mid-2013. ng a stronger yen risks erodi governing profit undermining efforts to spur recovery. the tankan index of confidence stood at six in march, declining from 12 three months ago. economists had forecast 8. italy's industry minister has

do you have the china market? >> we are sort of neutral on china. i agree you have to do the full math on the numbers. they are also diversifying their economy. aside from just moving less -- away from investment and toward consumption. they are starting to make significant acquisitions outside of china, particularly in the u.s. that's a benefit to many u.s. companies, too. we are in a better competitive situation. the total land to cost gap has narrowed. and the manufacturing competitiveness. aside from the way politicians focus on that, i think that shift is coming back to the benefit of the u.s. because they had to raise wages. gary: the emerging market was the big surprise of the first quarter with the bounceback economics. should investors have money in the he mening market? >> we have a neutral rate on the he merging market? it's an important part of a portfolio from a diversification standpoint. activity in he morning market reinforces to investors to not make mistake people often do. market of any variety care more about better or worse if t

yellowish china station. she is on the left and on the right after it was occupied by the japanese in june of 44, she decided to join the u.s. army and served as a nurse since she was actually in the philippines at the end of the war. she later wrote i was much attracted to this handsome young man with his devotion to china and is burning missionary zeal to say nothing of his charm and appealing southern courtesy. birch worked with radio intelligence teams. here he is right there. this was when he was a captain in the u.s. army. he coordinated bombing missions for u.s. pilots. he and his men assisted with the rescue of downed u.s. pilots, recruited and coordinated with chinese agents, intelligence agents, provided weather reports , gathered in television's information while birch was not in combat it was nonetheless risky and dangerous kind of work, often close to where sometimes even behind enemy lines. at the end of the war, or towards the end of the war the japanese were withdrawing their forces towards th

if the birth rate remains this low, in 140 years, china's population only 300 million. >> china should immediately remove all limits on births and instead encourage them. but even then, i'm pessimistic about china's demographic development. >> children's kung-fu in a department store. little yi is just watching, but she too will have to fight her way through life without a sibling. her parents don't want a second child, although they're now allowed to have one. members of the one-child generation are often pampered by their parents and grandparents. they're china's little princes and princesses. but they bear a great burden. later on, yi will have to care for her grandparents and parents on her own. the family lives here just outside beijing. they're middle-class, have their own apartment, car and career plans. and they can afford only one child. yi likes to dress up as a princess. she's going to get an extremely good education, but no brother or sister. her mother, zhang yin, has health concerns, but that's not her only reason. >> we want to give our daughter the best we possibly can.

in china, it is a mirror image. uber has built a good business in china, but they are definitely the number two. we think the prospects are bright for the company. emily: you see a winner take most market in ridesharing? glenn: you tend to see that some of that, and that is why we are excited to be the market leader in china. being the leader in those types of businesses is very important, and that is what we try to focus on when we make investments. emily: that was glenn solomon, managing partner at gvv. up next, keynotes at the facebook conference, including a virtual reality headset. is that enough silicon valley in one sentence for you? him my interview with facebook's cto mark schroepfer on their future ambitions, next. later in the show, it may be the most exciting business, but it is also the most risky. we spoke with jackie reses. ♪ emily: facebook held their developer conference with ceo, mark zuckerberg, taking the stage to land his 10 year strategy. later in the conference, chief technology officer, mar

this means china will try to prevent other nations from airspace in the south china sea. basically boxing us out. heather: and in vietnam and taiwan, they can test the same island. >> all these islands in the south china sea are contested by china, taiwan, vietnam, the philippines and china is also trying to take islands away from indonesia which generally was not thought to be a participant in all of this turbulence but nonetheless china is broadening the controversy by becoming much more expensive.heather: these two military moves in question which is the most significant and which should we be concerned about the most? both of them? >> absolutely both of them because what china is doing is not only in the paracel's but militarizing them and we got to remember that the chinese president told our present last september when he was in washington that china would not be militarizing these islands but that's exactly what it's been doing with these new control radars and also with the jets. heather: and carter's visit at coming at the same time is significant. >> absolutelyb

china is no different. like ggv, other funds have raised cap role in china -- raise capital in china. you have a large pool of entrepreneurs looking to do interesting things. when you marry availability with entrepreneurs come you will see a healthy rate of growth in china from early-stage into later stage. it does not worry us. we are in china for the long haul. we are ready to invest and eager to see what is out there. emily: we are seeing venture capital firms like yourselves raising billions of dollars plus funds, even though we are supposedly heading into a downturn and companies are having trouble raising money. to checkey talked price and said the kaufmann fund said that billion-dollar funds suck, then everyone went out and raised billion-dollar funds. the kauffman foundation says venture capital is a not good place for institutions to invest, especially in bigger funds. what is your response? >> we agree with bill. large funds do not perform well. if you break down the funds that 4,raise, ggv6 looks

we have learned that china is the firm's against market. mossack fonseca manages 60,000 offshore companies created through chinese offices. .t is not just the leadership growing numbers of people are moving money out of china on a scale never seen before. much passes through hong kong. that money has to go somewhere. is in real estate. last year chinese buyers snapped up $52 billion in overseas property around the world. she works for a company that finds property that might be of interest to chinese buyers. london is very popular. seen an has increase in popularity. every chinese citizen can transfer $50,000 a year. anything more than that has to be moved illegally. eggne who feels their nest want to wiped out or hides the wealth from the chinese government has to turn to illegal methods. >> it is something the government is aware of. they are aware of the scale, but they are giving it parity -- yet the problem remains so large -- it means they are not entirely on top of it. correspondent: across hong kong it is common to see visitors from

china contained 80% of the south china seas. the reopening of the brussels airport is being hampered by police demands for more security. authorities are still hoping that passenger flights can resume on a limited basis this evening, more than a week after the terrorist attack. brussels police union is demanding texts of passengers at the entry of a temporary check-in area. meanwhile, the u.k. will put more police on the streets to fight terrorism. britain's prime minister, david cameron, says about 1,000 more police with guns will be deployed, that's about a 15% increase, but they'll be given 40 new armed response vehicles. economists predict the u.s. economy added jobs last month. the monthly report out at :30 eastern. a survey of economists forecast the british economy will lose workers and gain efficiency with the start of higher minimum wage today. it was boosted the equivalent of $10.35 u.s. dollars an hour. companies will invest in technology instead. news 24 hours a day in more than 150 bureaus around the world. tom: bec

china eastern airlines also a solid performer. and atlas iron in australia has ended its share holder meeting to discuss restructuring. it is up 9%. those solid gainers, a downbeat day in the region. lossesseeing those continue on the open in hong kong and in china, similar to what we saw on global equities on thursday. rishaad: mitsubishi motors plunging again, 12% this time, having lost a third of its value. a 40% fall back so far. fallout from this few efficiency scandal is now enormous. there are signs it will get bigger. onlytsubishi is not the one. we have been talking about volkswagen for a while. the regulators are clamping down , rightfully so, because the emission standards are becoming more stringent. rishaad: they did not even ,onform to current standards but they conform to 2000 three standards. -- 2003 standards. already many cars are fuel-efficient compared to the rest of the fleet, so they are back to 2003 standards, but at the end of the day, they are still fuel-efficient and him it less pollutants. rishaad: what

tom mackenzie is our china correspondent. marchprise rise in the purchasing managers index for china, 50.2. the survey had been 49.4. that is what the forecast had been. it follows seven months of contraction for china's manufacturing sector. it will be a positive for the government as well and the pboc. we heard there was going to be a fiscal stimulus. of thates on the back increase in the services pmi and follows the positive run and chinese stocks. it is not just investors. where seeing impact in the manufacturing sector. -- we are seeing impact in the manufacturing sector. government expecting 1.8 million people may have to be laid off from state owned enterprises. we have seen falling demand as well. that has eased off for the first time in seven months, an increase in the purchasing managers index of chinese manufacturers. rishaad: thank you. we get reaction to all this out of china and hong kong markets as they get set for the trading day. we get the open proper and half an hour. the opens in singapore, taiwan pay -- t