best," the stories that shaped the year in business across asia. china's economy showed signs of stability even as growth sometimes seemed to sputter. >> i think we have a hard landing in the stock market already. >> the old economy drivers are back in action. it is the new drivers that are stalling. angie: japan's leaders went back to the stimulus well again and again with mixed results. >> we have to continue our accommodative monetary policy. >> i think japan has become this sort of test tube for the rest of the world. angie: it was an eventful year for many asian companies, from smashing successes to corporate crises. >> this is a huge deal. >> it is a combination of one debacle after another. angie: and asia made its mark on global markets as economists reckoned with the region's ups and downs. >> when the leaders say we want 6% growth, they get 6% growth. >> you can't have your balance sheets grow faster. angie: join us for a look at the best of 2016 straight ahead on "bloomberg best." ♪ angie: hello, i'm angie lau. welcome to a special edition of "bloomberg best". on thi

people's republic of china. i am so delighted you could join us in office and you accepted my invitation which i issued a year ago. president xi, a very warm welcome to you, the high delegation for you first office visit. even if temperatures outside freezing. special significance in the first chinese president, the audience of political business, it comes at an important law when people are looking for signposts, and in the past several years, the chinese economy hasn't made impressive achievements, lifting people out of poverty and transforming industries, and opening up. under your leadership, mister president china plays an ever increasing active role from climate change to reforming global governance and would like to conquer particularly for successful leadership, and presidency last year. and it is marked by great uncertainty. the international community, to continue its responsive and responsible leadership in providing all of us with confidence and stability, to use the opportunity to thank you for your country's continuous support of reform. please welcome his excell

knowledge of u.s. dealings with china, someone who has served in multiple presidential administrations, who is special assi assistant on the office of secretary of defense has worked as andy has and who is the author of the 100-year marathon, a book on china's grand strategy and the approach to global affairs, a book which has been a best seller not only in the united states and not only in japan but has also been a best seller in china. i believe that's chinese trancelation. >> yes, for internal use. >> what other? >> korean. >> and it's culting out 600 meters eggerly awaiting the 100 year marathon when it hits bookstores. michael pilsbury, what he doesn't know about china isn't knowledge. we are delighted to have him as part of our discussion here. the question i will pose to both of you, what are the chinese going to do next when the u.s. comes up with a counter response to a 2r2ad? where do you see them adapting the current anti access denial strategies to becoming the next generation of systems in the kinds of developments that are taking place here? >> a that addressed to both of

into that. west texas, not a lot of action. said, when you look at the commodities space, china so far the past week or so. ore, thatbber, iron is in renminbi. you get roughly 85 when you do the math, a hedge their against expected appreciation in the chinese renminbi, but barclays says that is a blip. let me wrap things up with a its bestet to extend start to the year since 1983, floods and thailand disrupting the outlook for supplies, could cut supplies by 20% this month. this is shanghai. we are looking at a 9% pop for this quarter, so the fundamental story, but also a party a cross commodity exchanges on the china mainland. rishaad: thank you for that. let's get you up to speed with some first word news headlines. here is sophie kamaruddin. donald china has urged trump to recognize this and sensitivity with regards to taiwan and says it's one china policy is not negotiable. donald trump told the wall street journal he would only commit after assessing beijing on trade and pricing issues. the president-elect said he is not prepared to declare china currency and if you later's im

china's currency reserves slumping by $300 million, the yuan saw a it's a steepest slide into been decades. two samsung executives face prosecutors as part of the undue influence scandal that brought down the president. americansler bows to first jobs policy. looking positive out there, the absence of japanese trading, a public holiday they are, 30 minutes before the start of the session in hong kong and shanghai, the open in kuala lumpur, taipei, and singapore. here is sophie kamaruddin. sophie: a number of markets coming online, checking that space. we are seeing continued gains on the asx and new zealand, and the kospi reversing gains made in the morning. space,look at the data what's happening with dollar strength, resuming strength following the friday jobs report. note, the yield of seven basis points friday. bill gross is expecting a breakthrough to the 2.6% level, pushing it into bear market territory, gross saying the treasuries are at an inflection point. gold edging higher after falling in the wake of the u.s. payroll data, gaining demand for alternative assets, and equi

live on the free c-span radio app. >>> at the world economic forum in davos, switzerland, china's president talked about his country's role in the global acade economy. president xi jinping said you can't blame the world's economy on the globalization alone. he's the first to address the forum and introduced by klau klaus swabb. >> it's now my distinct honor and great privilege to introduce our opening speaker, his excellency, xi jinping, president of the people's republic of china. i'm so delighted you can join us in davos and you have accepted my invitation i issued over a year ago. president xi, a very warm welcome to you and your delegation, your high level delegation, for your first davos visit. even a warm welcome even if the temperatures outside are free freezing, your presence here has a very special significance and as the first chinese president to address this audience of political business and civil society leaders, it comes at a very important moment in time, when people are looking for sign posts in a complex and uncertain world. in the past several years, the chines

technology. in fact, as china doubles down acquiring foreign technology companies and taking their know how is a core tactic. i think it's very important to differentiate that between other companies that would come in and buy our firms or vice versa. chinese strategy in some of these cases is not about that, it's about taking technology. so i think we should be under no illusion that this is a long-term strategy for them to surpass us and to either destroy their market share or put them out of business. what do we need to do about that? we need to have a knew answered approach here. i think it would be a mistake. we need to differentiate the kinds that are in our interest and the kinds that are not. i would argue we need a much more investment review process. acquisition investments designed to get and take our technology. it has been pretty good on that. i think it needs to be improved. we would recommend a number of improvements, one being extending staff, extending the time to review on deals on countries like china where there is a significant state backing. mandatory notifica

china and senate confirmation hearings. rex tillerson once a stronger presence in asia, does he not? it seems to be putting it out anyway. >> it is not necessarily happening according to rex tillerson. he says the south china sea flashpoint, and china's moves on what has been reported to be weapons on this reclaimed claims -- rexhina illegaln calls those actions and extremely worrisome, of the russia's taking crimea. -by u.s.d by fewest senators whether we should take aggressive action to china, this was his reaction. >> we need to make sure that access to those islands will not be allowed. he mentioned china in any other facets. he criticized china for stealing intellectual property. he said he is not opposed to the trends pacific partnership, which was a cornerstone of the obama administration, in his pivot to asia. rishaad: you think you would be agreeing with his boss in some way. >> she said that he shared some of his concerns. but maybe not in the purview of the state apartment portfolio. he said he had some reservations toward that. climate change, he said that needs to be re

super power, china, asserting today its "irrefutable" sovereignty over parts of the south china sea. a clear warning to the white house. day two of week one, president trump is stepping up the pace here in washington. the oil and car sectors were both in his sights today. mr trump is urging a new strategy for two very prominent american industries. the new administration is making big changes to america's stand on both energy and the environment. this morning, the president signed two executive orders to move ahead on a pair of controversial oil pipelines, known as the keystone xl and dakota access. both had been stalled by the obama administration because of environmental concerns. senatorjohn barrasso from wyoming is part of the republican leadership and he sits on the energy and the environment committees. i spoke to him a brief time ago about these new executive orders and president trump's busy first couple of days. it looks like these signings this morning on the pipelines, thatjobs are going to win. i believe it is not one or the other, i think we can have clean air, clean water

be thinking long and hard apart from china if they don't have assets available to the united states how do we protect ourselves? i think parties are sensitive. i think that is why you see such a prevalence. assuming bargaining position i advice u.s. clients to have a consent to jurisdiction and litigation in a new york court. >> your view is this is working pretty well now the way it is. litigation takes a long time sometimes so it may look like one of our companies are being treated unfairly but people are aware of the legal framework and can guard against it? >> whether a company is adequately protecting themselves may be an open question. whether there is need for additional legal structure to help them i think that is the part i don't get to. i think it is adequate and up to the parties to take advantage of it. >> before we have just as if you can answer later just send us the question about that is in a transactional sense the question of -- and i understand the monopoly issue was a comedy issue whether there are areas where it falls outside of the transaction that there may be

collect all of the transactions by china in the u.s. economy since 1995, and giving aus detailed e perspective of the activities of the chinese companies in the u.s. economy. my colleagues and i have published many articles and we have recently produced a report for the commission that summarizes the recent trends and analyzing the implications for the u.s. policy. in my remarks today, i would like to present the most important data point, and the recommendations that we draw from the research. starting with the data highlight, and first, i think that commissioner wetzel mention manied it. the official statistics are a poor measurement for the scale and pattern of the chinese in the u.s. it is not because the chinese companies are trying to flow below the radar, but it is because the statisticaling agents in china and the u.s. are tasked with capturing financial flows based on the balance of payments considerations. alternative data set based on the collecting aggravating transactions are therefore indispensable for understanding the trends of chinese investment. looking at the tra

opponents of ours. trump's choice for us secretary of state has hit out at china in his confirmation hearing, calling it aggressive, expansionist and unreliable. i'm babita sharma in london. the taliban release a video of two abducted professors, one australian, the other american, as they plead for donald trump to help free them. 25 years at the top — we've an exclusive interview with one of the world's biggest movie stars, bollywood's shah rukh khan. good morning. it's 9am in singapore, 1am in london and 8pm in new york, where donald trump has used his first formal news conference since the presidential election to attack america's intelligence agencies. he suggested they might have been responsible for leaking a report, which alleges that russia has gathered compromising information about him. the president—elect angrily denied that he was in any way beholden to russia, and he repeatedly criticised some media organisations for spreading what he called fake news. the bbc‘s ian pannell reports from new york. it has been almost half a year since we have seen one of these, a don

nato obsolete. lineng takes a tough saying the one china policy is not possible. and korean prosecutors say they will decide whether to issue an arrest warrant for j wiley. is daybreak asia. it's just after 6 p.m. in new york. after 7and it's just a.m. in hong kong. looks to be a busy week for all of us. we are looking ahead to the inauguration day of donald trump. his speech will probably be entertaining judging by what we saw in the press conference last week. in the u.k., with theresa may's feature on tuesday, we see moves on the pound. lows but still hovering around 120 against the dollar. there's not going to be nothing to talk about at davos. there will be lots to talk about when economist and thought leaders. it feels like there are hotspots growing all around the world, whether in taiwan or here in the u.s. or in the u.k.. the pound has been the one currency to watch over the weekend, what's going on in asia right now? yvonne: one thing to wrapup is china gdp. that's of data coming through. lets the out things are kicking off in the asia-pacific. a strong session on

summoned by prosecutors. transpacific tensions, donald trump spake for secretary of state says china must be warned off disputed islands. this is the second hour of "daybreak: asia." just after 8:00 in hong kong. >> just after 7:00 here in new york. we just got the numbers out of japan. we are also waiting for the samsung vice-chairman to come to the prosecutor's office for questioning. this has been a developing story in south korea engulfing the country and all of asia. as you can see, life pictures of waiting for him to arrive to the prosecutor's office for questioning. not a suspect yet, but coming in for questioning. it was surprising that people were expecting him to be called in for questioning, but now he's being summoned as a suspect, leaving questions about his succession plans. if he is prosecuted, what is going to happen with him? there have been years of planning to get to that spot. we will see how things go there. that hearing is underway this hour. we will get you updates later on. gettingt to the markets the japan and account balance. is settinghow asia up for the da

country improving ties with russia and china. analysts say duterte is supporting the rivalry between the u.s. and the two other super powers. >>> and that will wrap up our bulletin. i'm in bangkok. >>> u.s. president-elect donald trump says toyota should drop plans to build an auto plant in mexico. on thursday trump tweeted that the car giant should be slapped with heavy taxes if the factory is built. but officials with japan's largest carmakers say they are going ahead with the plan. he tweeted of toyota's plans. no way. build plant in u.s. or pay big border tax. trump demands a review of the north america free trade agreement or nafta. he says he wants to protect domestic jobs and will impose a 35% tariff on products made overseas by u.s. companies. following the tweet, officials at toyota have told nhk the plant in mexico will be a new facility and is not a relocation from the united states. they say the plant will not cut toyota's u.s. production or workforce and that they are looking forward to cooperating with the trump administration. prior to the tweet, toyota preside

holiday today. 1%,ghai index of 1/10 of even with reports that china is in to audit banks to curb the next quarter. 1%, down by 1/10 of $200,000 per ounce. in the contracts in the u.s., it is gaining ground by 9/10 of 1%. study,n the 10 year nude 2.52%. if we have a look at the aussie yield, contraction coming through, 2.73%. certainly a strong rally coming through into equities money out of the bond market. >> we are going to check in on the first word headlines around the world. haad: the pboc ordered chinese banks to control lending afternoon loans surged in january. they're banks lent increase mortgage lending or the rates of outstanding mortgages, at least relative to the fourth quarter. the pboc may punish noncompliant lenders by making them pay more for composite measurements. a rentrak for a record low profit, china's biggest listed oil and gas producer. onm planning this slump drastically low prices for domestic oil and gas. prices are set to rise and have promised crosscutting. that is helping shares in the hong kong session. egyptian ministers saying stocks will not deter i

region. >>> relations between the u.s. and china have cooled in the lead up to next week's inauguration of donald trump. our next story looks at what's in store for the relationship once he's in office. >> reporter: chinese state television issuing a strong message to the u.s. about the region. the country sent out warships including its first aircraft carrier on military exercises in late december. the ship's route included waters around the taiwan strait and the disputed south china sea. the reaction from the taiwanese -- >> reporter: some of the drills coincided with taiwan president's tsai ing-wen meeting with republican lawmakers in the united states. tensions started to rise back in december. president-elect donald trump took a phone call from the president tsai after his election win. it was the first such phone call since 1979. the year the u.s. switched diplomatic recognition from taiwan to china and started to follow the one-china principle. it acknowledges taiwan is part of china. an expert says china's military drills show the country is concerned. >> although the aircraft c

asia pacific region. it will create an opening for china at the expense of american workers. >>> president trump is also taking up the issue of large u.s. trade deficits with japan and china. he has criticized the two countries for engaging in trade practices that he claims are unfair to u.s. manufacturers. trump was speaking to corporate executives. he indicated that japan and china are making it difficult for u.s. firms to sell their products in their countries. >> we sell a car into japan and they do things to us that make it impossible to sell cars in japan. they sell cars into us and they come in like by the hundreds of thousands on the biggest ships i've ever seen. we have to talk about that. it's not fair. >> trump added he will lower current taxes from 35% to between 15 to 20%. he said he will aim to cut regulations. he stressed again he will impose a border tax on goods produced at factories that have been moved out of the u.s. american business leaders welcomed trump's plan. >> the president is very, very serious on making sure the united states economy will be str

opening speaker his excellency president of the people's republic of china iso delighted you could join us here and davos with the invitation night issued over one year ago. president xi a warm welcome to you and your high-level delegation to your first davos visit even if the temperatures outside are freezing by your presence as a special significance and as the first chinese president to address the civil society leaders to come on as an important moment in time so to make impressive achievements to of the industry's to reform and open up. under your leadership there is an ever increasing of global affairs from climate change and i would like to congratulate you to be marked by great uncertainty into continue the responsible leadership with confidence and stability. thank you for your countries continuous support of civil reform. ladies and gentlemen, his excellency xi jinping the president of the people's republic of china. [applause] translator: for the state and the government at bbn your sponsors, head of international organizations organizations, ladies and gentlemen and indiffer

the dollar. theresa may gets explicit about brexit. china's president tackles protectionism warning that there would be no winners from a trade war. we are 30 minutes away from the start of the trading day in hong kong. the -- but and take lumpur starting the session. what is going on? one point clear. about the equity markets in just a moment. this will highlight how the sentiment has changed from this time last week. friday, monday and tuesday and that is where we are at the moment. when you look at what sort of investors are buying into it is almost like protection. japan is one of the worst hit in the world. the second worst performing market. dollar-yen pushing toward 112. that is an extreme example but it is what is hitting asian equities at the moment. we're seeing that extend the losses from europe into wall street. waites are up and let's for that to get underway. we saw the biggest drop in stocks since the brexit vote. futures and all things .qual, gold gets bid up let's wrap things up with a look at the markets opening. we have time one and where i am -- thatpore and we h

china is all too willing to step in to and to film and we see this happening. we saw it happening as you mentioned in daf os. we see it happening across the region where the countries are saying if the u.s. is not going to engage, show leadership as it did in the context of ttp, then we're going to have to line up behind china. >> we close this evening with richard haass, president on the council of foreign relations, his new book a world in disai ra, american foreign policy and the crieses of the world orld. >> i think the real alternative to a u.s. lead world is a nobody lead world. increasing disarray, countries leak china might have a large role, countries like iran, turkey or israel might have something of a role in the middle east. russia, germany and europe. so it is a world of local powers but more than anything it is a world of growing disarray or worst yet, also at times a world of chaos. >> mexico, trade, tariffs, the wall and foreign policy when we continue. >> funding for charlie rose is >> rose: funding for "charlie rose" has been provided by the following: >> and by bl

think china and u.s. relationship should be friendly and do better. gary: could this relationship between trump and jack ma have an impact on the business dealings between the u.s. and china? china. trish: what do you think of this move for jack to be in there meeting with donald trump? >> i think alibaba has big plans for the u.s. and i think it's an opportunity for him to start at the top and begin that relationship he has been eyeing for a while. trish: he needs a good relationship with the president of the united states. >> i think it has a lot to do with sending a signal to china. i think jack ma's relationship with china is every bit as affected by the dynamic with trump as well. gary: what signal are they trying to send? >> i think accommodation, relationship, working together. there isn't going to be an adversarial piece. particularly given trump's relationship with the traditional silicon valley. it showed an indication was looking to be in a different footing. gary: the president-elect has talked about china taking advantage of the united states, this election was in man

contracts in china and hong kong hauling ahead of a consumer and producer price data released from the mainland. that will be out in the next half hour or so. one of the big things today, in the currency space, dollar strength faltering for a second day. the korean won and the pound are the biggest decliners among major currencies so far this week, but we see the one rally won rally.we see the , strengthening. maintaining its rebound as we see haven buying, following the retreat on wall street. uncertainty.amid oil have a ring around the 52 dollar per barrel mark, recovering somewhat from an earlier decline driven by concerns over opec compliance. take a look at what is happening in the bond space. rise inebt cases the u.s. treasuries, for the third time in four sessions. the yield on the 10 year aussie tot fell six basis points 2.7. u.s. 10-year note's looking steady here as trading gets underway, after the yield fell to 2.37%, the lowest level since the fed hike in december. rishaad: let's get to sydney and get the first news. keeping it in the family when it comes to a future admini

. putin either face to face in china or overseas that putin says, i'm not doing that again? >> there are different stages to this. we have retaliated and responded in a serious fashion and we've said from the outset that we' respond in a manner and a time of our own choosing and not all of it may be evident to the american people. >> rose: but it has begun? it has begun and, in fact, a significant element of it was announced at the end of last month when the president sanctioned the russian military intelligence and other russian intelligence agencies and their leadership for their direct role in trying to involve themselves in our election. he also expelled 35 russian intelligence officials, closed down two very valued facilities that they operated in the united states, put out in great detail the forensics that showed how russia conducted these attacks, and a variety of other significant steps. now, charlie, you mentioned china, and back in early september, as we were beginning to see indications of this, the president did convey a very forceful message to president putin. and it's our

. >>> trump tweets. the president-elect taking aim at china on the same day we're expecting his big trade nomination. >>> and ready for takeoff. spac spacex pilots its first launch since its september explosion. it's january 3, 2017, and "worldwide exchange" begins now. ♪ >>> good morning. very warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost along with seema mody. good morning to you. >> good morning to you. happy to be here. >> let's get to the global market action. 2017 has started on a positive note. last week was a little bit lackluster, 2016 fizzling out. we saw about 1% of declines for the week as a whole. big gains, though, for the year as a whole. the dow ending up 13.4%. the s&p 9.5%, the nasdaq 7%. so seven positive years in a row for the dow. let's look back at today's futures market. they are called higher today. we have a general risk-on trade. u.s. futures expected to open very prominently higher. the dow called higher by almost 150 points. ten-year treasury note for you as well, quick look at that, had is at 2.496% this morning. not too much movement

region, what will trump's approach to china policy look like? tensions started to rise when trump broke with tradition by receiving a call from taiwan's president. he also questioned the one china policy. the principal considers taiwan a part of chinese territory. >> i understand the one china policy but i don't know why we're bound by a one china policy unless we make a deal with china. >> steven yates say former deputy national security advisor for the administration of george w. bush. his take. >> he's looked at a power balance that's gone in china's favor and. >> china is dictating trade and what words americans are even allowed to use so i think like a business man he's entering into this conversation intent on negotiating a better position for the united states first by saying he's not accepting these conclusions that lead us where we are today. >> he'll seek to change the conversation with china. >> they live today based on a robust economic relationship with the united states they live today as a dominating non-democratic party run state because of economic ties with it's neighb

. sharyl: in short order, what do you think president obama has wrong, if anything, related to china? peter morici: he stood by while china built the islands in the south china sea and militarized them. he has tried to make china back down on currency and trade issues, but when the chinese stand firm, he's flinched. sharyl: what is it you advise president trump to do? peter morici: bite the bullet and put up with the criticism and perils and put china back in its box. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] ♪ sharyl: welcome to "full measure." i'm sharyl attkisson. the new republican-led congress was sworn in this week and one priority was clear -- doing away with obamacare. the promise of the law was affordable health insurance for all. but for too many, the hard unaffordable premiums, and huge out of pocket costs. we've covered the pitfalls since our beginning here on "full measure" and, today, we begin by reviewing what went wrong and the prospects after obamacare. it was a popular e

and surprising promises about obamacare. >>> plus, some push back. china steps up its criticisms on it trade, calling him an amateur and super arrogant. >>> welcome to our viewers here in the united states and all around the world. i'm rosemary church. >> and i'm george howell. newsroom starts right now. >>> it is 2:00 a.m. on the u.s. east coast. we begin in kyrgyzstan. a jet crashed in a village and killed 37 people. we know children were killed as well. it crashed near the country's main airport. >> this video shows the crash site. and you can see some of the debris there, as well as rescuers on the scene. >> following this story, cnn's ian lee is live in istanbul turkey, gathering details, what more do we know at this point when that plane and what might have caused this crash? >> reporter: well, george, when you look at the pictures of the wreckage, you can see that there was heavy fog at the time, and that could have played a role in the crash. something investigators are going to be looking into. this was a boeing 747, operated by act, which is a turkish cargo company crashin

contain china by any means but the more china grows in its importance and dominance in the region the more they want the u.s. to be there to diversify their partnerships and diversify their markets. and what is at stake if tpp doesn't move forward in some form or another not only would we lose the economic effects which are substantial to the economy but we have shot ourselves in the foot on leadership in the region and global leadership. prime minister lee, foreign prime minister key and prime minister abe have all talked about how it tp'd p. doesn't move forward it does great damage to the credibility of u.s. leadership in the region. it creates a void that china is all too willing to fill and even our closest military allies and partners will feel the need to line up behind them. to be frank i'm a bit perplexed because it's hard to be tough on china as we have heard a lot about during this campaign and withdraw from the tpp at the same time. it would be a huge gift to china in terms of damaging the u.s. role in the region and i can't understand why any president toward administrati

to study the trade relationship with china and assess damage from other, quote, unfair tactics. alex, we know the pledge has been to unwind the trade deals and this might not be the last. the president a countless to campaign promise. he said he would end our participation in the tpp and decided he's a paper this morning double do it. it will not be the last one. soon to come is nafta. the press secretary reiterated, he is not a fan of the deal. we expect him to give notice to canada and mexico soon that he intends to renegotiate nafta. proposed secretary said he would look into the relationships. how is the rest of the world racing themselves? these two moves, nafta and tpp, were well telegraphed. i don't think anybody around the world is surprised. countries like vietnam and singapore were disappointed and hoping trump might reconsider, but i don't think they should be surprised. the reaction on capitol hill was interesting. the first statement in my inbox came from republican senator john mccain, who just ripped trump. he is a free-trade proponent and said this is a mistake and wi

opens the door to -- guess who -- china. a lot of people have been comparing this with the race between the u.s. and china in terms of influence in asia. right now, it looks like according to one commentor that the u.s. has put its own horse in the horse race out to pasture. rishaad: we also got trump meeting with u.s. business leaders to talk about import taxes and regulations. what do we know? ramy: in terms of import taxes, trump wants to use that as a togel or a stick in order get u.s. companies do not send their businesses overseas. take a listen. company thata wants to fire all of its people in the united states and build some factory someplace else and thinks that product is going to just flow across the border into the united states, that is not going to happen. they are going to have a substantial border tax. ramy: more rhetoric as donald trump, now we are used to hearing from them. you see around the table, ceo you on mosque from tesla, also the dow chemical ceo, johnson and johnson ceo, lockheed martin. a lot of who's who in terms of business companies from the u.s. d

happen to said to- if mexico united states we will sell that stuff we were selling to you to china or another market? michael: companies would have to find new markets for their products. the broader issue is threefold. it's the risk of retaliation. it's the risk of imitation, mexico or other countries saying well, if the their tradelate agreement, we can as well. purchasingworld powers outside the united states. we need access to those markets to support jobs here. thirdly, its taxation. when you raise tariffs, you are imposing a tax on the consumers those imports. low income americans spend a disproportionate amount of income on tradable goods, clothing, footwear, food, so you are raising the cost of the people least able to afford it. .harlie: take the tpp why was the good for the united states? good in well, it was many respects. by all economic analysis, it would have added more than $130 billion to the gdp, increased exports. charlie: how? michael: by opening our market to other exports. we don't use regulations as a disguise barrier to trade. other countries have higher barrier

pulling us out of tpp. that was meant ironically as a way to contain china. his nemesis. he indicates he was to renegotiate the north american free trade agreement with canada and mexico. i suspect this is what we are seeing in the markets. for several days the markets were focused on less regulation, lower taxes. now they are beginning to wake up and say the mighty some stuff we don't like your from the trade front. >> he did what he promised he was going to do. >> i suppose what is a bit unexpected is you people like malcolm turnbull, the prime minister of australia, reaching out to japan last night. also the prime ministers of new zealand and singapore, saying let's take this tpp and see we can drive that forward without united states. >> the highest u.k. court ruling prime minister theresa may needs the provision of parliament to trigger the countdown to brexit. >> today, by majority of 8-3, the supreme court rules that the government cannot trigger article 50 without an act of parliament. >> this government is determined to deliver on a decision taken by the people of the united

earnings out of -- later this day. the next is what is going on with china's industrial profits for december. we are going to see producer prices higher which could give chinese stocks a lift. mentioned we are waiting for some earnings. there are already earnings out. are there highlights? have a report of fourth-quarter numbers. estimates onng surging chip prices, up almost 2%. sales decline 21%. it is optimistic of its future, hynik saying it is developing production of a fourth-generation chip. display, fal ling about 0.3%. julie: thanks. back here in the u.s., president trump is moving ahead with his pledge to build a wall on the mexican border. tosigned an executive order provide funds for the project and also curtail immigration from what he called terror prone countries. on the wall, what happens now? reporter: we are going to see in terms of the timeline, mr. trump he could spend over the next few months. we don't have many more details. he is going to talk about how that is going to be paid. we have been talking about mexico being forced to pay, but the mexican president sa

excellency xi jinping, president of the peoples republic of china. i'm so delighted that you can join us, that you've accepted my invitation which i issued over a year ago. president xi, a warm welcome to you. .. for signposts in a complex world, for the past several years, the chinese economy has made impressive achievement, both in terms of lifting people out of poverty and transforming industries to form in opening up. in your leadership, mr. president, channel is also an ever-increasing active role in global affairs. from climate change to reforming the global government, i would like to pursue successful leadership of the chief 20 summit in your presidency last year. today in the world marked by great uncertainty, the international community is looking to china to continue its responsive leadership in providing all of us with confidence and stability. personally, i would like to use this opportunity to thank you for your continuing support. ladies and gentlemen, please welcome his excellency, xi jingping, the people's republic of the country of china. [applause] [speaking in nati

strategically complicate policymaking in a way that could ,hallenge china's dominance particularly in the asia-pacific region. we have not heard the trump administration articulate how they plan to confront china. you have heard things here as far as rex tillerson versus the white house views on south china sea and territorial disputes. you've heard candidate trump saying he was going to have almost a trade war with china. that language has not been articulated into a singular view to explain how the united states is going to be positioning itself with arguably its biggest competitor economically and militarily. charlie: what about the intelligence community and who created what understanding about the rift between the intelligence community and this president? : we heard from the president that it was all a media creation. it was then president-elect trump that went quite aggressively at the intelligence community and accused them of leaking the dossier that had the unconfirmed reports about his alleged activities in moscow. he was the one that brought up comparison.e nazi i think

later in the program with more details. >>> the issue of the south china sea is linked to peace and stability. at the meeting today we confirmed that both countries which share common values and strategic interests will cooperate hand in hand for the stability and prosperity of the region. >> the philippines and japan have a shared interest in keeping the waters safe and secure from threats of any kind. >> china has built airstrips and radar facilities on artificial islands in the waters. abe said japan will provide around $9 billion over the next five years in government aid and private sector investments. the money is to help improve infrastructure in the philippines. he also offered to share japan's experience in operating rehabilitation facilities for drug addicts. duerte's tough stance has been questioned by human rights groups. this comes as it's looking less and less likely as the transpacific partnership deal with happen. the incoming u.s. president said he will pull his country out of the pact. the chinese president has reached out to vietnam's leader. they hope to promote

maybe the last couple of days are having an impact. rishaad: now, retailo china prices, there we go. gp, looking atl 6.8% for fourth-quarter gdp, better than expected. retail sales, industrial production, painting a picture of that chinese economy, and tom mackenzie in beijing. number, the full-year gdp number four china is 6.7% for 2016. the fourth quarter number surprising to the upside, up 6.8%. that full-year numbers squarely in the middle of the government's growth target. said, more data points as well, industrial production came in up 6%, full gear. corridor, 6% versus estimates of 6.1%. retail sales for december up 10.9%, beating estimates of 10 point 7%. ,ull-year 2016 up 10.4% suggesting china's consumers remain relatively bullish. wage hikes are starting to come off and there is a question of whether curbs on property prices will drain money from chinese consumers pockets in the months ahead. fixed asset investment came in up eight point 1%, marginally below the estimate's of 8.3%. fixed asset investment, we will break it down to see much how much a private sector played