also saw china as a threat. so it -- they both, so it was only in areas where there was competition that i focused on. and i do not think there was really competition between the u.s. and china in latin america, at least during the time i was talking about. the u.s. was much more concerned about fidel castro and the extent the soviets in latin america. the example about namibia, this issue about china bringing its own labor, i think that is something that has become more and more of a problem in contemporary chinese projects than it was in the 60's. i think during the 60's, you are right, in the case of the trans am railway, there was thousands of chinese workers that were sent. i think there was also some appreciation in ways that these workers were toughing it out in africa. and you know, so there was, the reaction was a little bit more mixed. if you look at the range of african opinions about china and chinese aid in africa today, they are very diverse. you have some african leaders denouncing china and sayin

the onus is on china to enforce these sanctions and to re-enter. the position of china when it comes to banking with north korea u.s. president donald trump has said one thing china is saying and maybe not can you clarify this for us. yeah look at president trump on thursday basically offered more sort of provocative praise of president xi jinping thanking him for the fact that he said china's central bank had now agreed that its banks would no longer deal with north korea well on friday evening china's official foreign ministry spokesman appeared to dispute that he said that wasn't what how china quite viewed it did or didn't conform with china's facts so that once more created a certain amount of confusion i think that what has happened is that privately china has gone along with this because it's worried that the united states might penalize one of its big banks there's been a lot of talk about that and china wants to avoid a situation where one of its banks could be excluded from the u.s. financial system but what it didn't want to do was to ha

so the china, you know, china's leverage is limited. they haven't got it. -- they have got it, they could use it but it is the kind of leverage that could come-- have enormous blowback for them if north korea did fall apart. >> glor: people forget that, they think china and north korea get along, and they just don't. >> they don't. that is the old propaganda line about lips and teeth. i'm afraid it is not like that, if it ever was. north korea always in the cold war days used to play china off against the soviet union. they have got their own way of doing things. you know, the kim family business and dynasty, that is what drives them. it's not being nice to china or anybody else. >> glor: and do you believe people underestimate the kim dynasty? >> well, clearly they have, you know, we've had collapsist theories for years. it didn't happen. we had this guy come in and take over the country at age 30. we don't know too much about china-- north korean internal politics but we certainly know he didn't know how to run a country. he has done

china already has this salami slicing policy in east asia, the sea, china sea, east china accumulating influence in such a way that it is hard to the u.s. to push back. i think at the core of what the u.s. has to do as long as the u.s. is committed to its position in asia is to strengthen alliances. that is the most important thing. the second thing that has to happen if people are going to push back against china does not necessarily involve the u.s. it involves other asian countries joining together here at instead of what the u.s. used kescall the hubs and spo relationship, it is now kind of a network arrangement. japan and india, japan and the philippines, you numb and india and india. all sorts of allied countries joining together in new types of security partnership to bolster the old u.s. alliance system, which is not as strong or dominant as it was. >> china once the u.s. there on their terms? richard: yeah. the fascinating thing about china is china has been a huge winner from pax americana. let's not forget that. the u.s. is the security guarantor in asia has provided a platf

let's move on to china. higher on are trading news that the government is eyeing a deadline to into sales of vehicles powered by fossil fuel. this would make china and the biggest market to set a target for facing out gasoline and diesel powered vehicles. tom mackenzie is tracking this for us. this is significant. is, although not all together surprising. byd backede likes of by warren buffett investing in electric vehicles on trading higher today on this news. automaker based in beijing have also invested heavily in electric vehicles. this is not surprising for the industry. there has been a lot of focus on government subsidies in this sector where. a lot of money has been produced in the whole ecosystem. china once to reduce its reliance on imported oil. also importantly sees this as part of an industrial strategy. they do one a play at dominating role in the electric vehicle market, and this is part of that pushed, batteries as well a key focus. that is why we have seen regulations to set a date for phasi

china is either too hot or too cold for people. china is doing fine. made, athe reforms are lot of policies in place are taking shape. so this part of the world is in good shape. fore: china is preparing their party congress. xi jinping, liquidity and the changing with leveraging. how does that impact foreign investors? jonathan: the last five years has been about his plans to clean up large parts of society. he will focus on financial this time around. what he wants to do is open up marketplaces but open marketplaces that control fashion so they do not get out of control. this is how he came to power during the global financial crisis. he saw the damage that did and the extraordinary stuff he had taken to make sure this huge system risk. xi jinping is cautious. he understands the needs to put the market more at the forefront of the economy, but he does not want it to be uncontrolled. angie: china was one of the most inquisitive countries in the world. [please stand by] it looks like we just lost the signal for the interview between the clsa ceo and if

started in two thousand and twelve with a lust china that's let them a disease of china right she now so there's going to be a new owner who is going to be the same leader go exactly to day at all as i know they are ok the guy go in for ten years like she could be for another five years i think they appoint a new leader but you know this is a very unusual move the g twenty is like start this stuff like he's going to be around for a while looks like he's going to be going to the well probably you know it's not covered here on the news we've been here for the past few months is not covered on the news because everything is russia great russia great russia gate hillary clinton's mental breakdown all this sort of stuff that this is all this coverage so so americans are not informed about the world around them the important stories happening they were poor in story happening is the end of petrodollar the end of the u.s. as the number one only saw solitary supreme power and the rise. well there power let let's go back to our story here so the price of oil would because of the consolidation

we have seen a shyness than what he was saying about china's interest in priority in china wants to avoid instability in region collapse in north korea but china needs to see that we do not have much time left and does it really touch on a very one nuclear north korea what does that mean they missed part of a nuclear arms race in the north east asian region with south korea possibly going to grow japan following those potential nuclear proliferation now we're very close to a conflict more than ever before i still think it's unlikely but we are there china south korea china is number one trading partner for south korea the trade partner between china south korea's double we're going to south korea u.s. south korea japan combined china only so have i think the defense ministers are sort of understand that there's interest in priority of just supporting north korea giving plank check to north korea has not worked and we're not at the close of the end game here and i think china needs to leave value should you said earlier about you know the regime change was being a problem and charles

china. the planned sale of a chinese business, is positive, according to the company thing that it is seven out of 112 market in china have been closed, and it is still early in the session to see how investors are taking on the latest missile test from north korea. back to you guys. betty: thank you so much, sophie. with the market reaction. we will see reaction throughout the globe, jodi schneider our manager from hong kong is watching and also our managing director from government chris. in tokyo. chris, first to you, we have not heard anything yet from president trump. we are waiting to see if he will make any remarks during this dinner. what do we read into the no response yet from china or the u.s. to this? >> well, the white house has said the president trump was briefed on this launch by his chief of staff. the chinese have a regular foreign ministry briefing, and no doubt this will come up. i suspect we will hear the same from the u.s., as we have already heard from japan this morni

only one country does, and that is china. china was quite literally shaken by the blast. north korea's nuclear test site is only 60 miles from the border. it will have sent a diplomaticjolt, too, coming just before president xi jinping opened this international summit. although he made no direct reference, he warned of the challenges to world peace. on state tv, the message was more blunt, with an official statement strongly condemning the test. there can be little doubt that the government here in beijing is rattled. once again, it has had to order emergency radiation monitoring along the border. but, despite the frustration, as always, it may be reluctant to punish north korea too hard. china has recently been stopping cargoes of coal and seafood, in line with toughened un sanctions. but its biggest fear is not nuclear weapons. it is the chaos that would come with the economic collapse of the impoverished state, shrouded in darkness, on the other side of this river. john sudworth, bbc news, beijing. let's take a look at some of the day's other news: thousands of people

china's behaving badly so look what they are doing in the south china sea. they aren't building resorts as the south china sea they are building militariness haitians and a blue ocean navy so it's not the isolation of north korea acting badly. it's china as well expanding it. >> trish: so we need to do something about china. china holds the key to north korea and this is a confrontation that will have to happen at some point given what china is doing from a military perspective as you point out. >> the only thing you can do to china is put economic pain on them in some way, shape or form. >> trish: economic pain there is much much we can do. we've only sanctioned one bank. >> this is the only thing we were dealing with, the whole government, we're dealing with so many things on this front and don't think they don't know it. don't think they don't know the presidents in texas for the flood it's the most serious disaster we've had in this country. >> trish: good to see you guys thank you so much. still to come everyone the one thing to watch for in the week ah

ng.s is china's meddli korea all trade in north is with china. the other thing i would do is i would formally eliminate any diplomatic distinction between north korea and china. i would no longer have any diplomacy with them. i would strictly deal with them, with china, hold china completely culpable, accountable for their behavior because the fact is that north korea does not exist without china. china is accountable for causing all of this. look at all the equipment that is being created in north korea. paraded inis being north korea. it says created in china. host: thank you for the call. let me read to you from the new york times, more reaction from beijing, another strategic consideration in responding to the nuclear blast, is china, writes the new york times, a collapse in north korea could lead to a wave of hungry refugees and the scramble for north korea's nuclear weapons. china seems to have lost patience with north korea, agreeing to stronger yuan sanctions.- u.n. the full details are available at nytimes.com. jason in florida, democrat

one, rand recognition is still very important in china. apple does have a very good brand in china. i would think in the next year that the iphone can probably get for the executives, so that is important in china. another thing is that it depends on the business model, how apple launches the platform in china. ,hen it comes to b2b business alibaba for e-commerce, tencent ar gaming, and with the facilities and the new phone, can they leverage these two platforms. own emoji, design scheme, and play the game together. that is a different experience. when i shop, i can create an experienced that is beyond the hardware that the people in china are looking for. of course you can leverage the two giants in china to help you. david: fingers crossed. thank you for joining us on the program. coming up on the program, we look at the suppliers in hong kong and how they will react to the launch in the premarket. that is coming up next. this is bloomberg. ♪ ♪ we are minutes away from the open of markets in china and hong kong. up 12 points, not. the past two days have not been bad at all. we

china china as a potential target i don't know whether my experts would agree with me charles i make investments in india as well as in china and i have to agree with you wholeheartedly because we even see in the indian prez. attempts at starting trade war against china boycotting of chinese products chinese goods now in the chinese case i have to say the media is pretty unified in terms of wanting to play down the event so those of us who are in business don't see any possibility of a war because it really helps some third party but the media in from india actually had some ok that are state ads i take your point but i think that's a very very contentious point because the way we see it in india as we read the global times always read several of the chinese publications including publications online. accounts as well is that india is that china really wanted to up the ante in this particular case the use of the term war was used in common trees and editorials in the chinese media there is only one is a lot of times india did not want a war does not want to always we want peace yet w

targeting china. and also james just looking at some of the comments coming in from the new he's the u.s. seems to have persuaded china if indeed that has happened we're not sure what's been going on behind the scenes to do more in terms of instructing their banks not to do any business with north korea but here mention is saying that the u.s. will call on russia to do more as well. yes what we. didn't hear any mention of that from either the russian foreign minister sergei lavrov or from the chinese foreign minister so it's not something may well have been coordinated there may been talk spying the scenes and we understand from president trump of the chinese central bank is telling other banks in china not to do business with north korea it's certainly not something that either foreign minister wanted or trumpet in the speech it wasn't something that was coordinated in the sense that they wanted to make it all a joint decision suggesting that some of this is being done somewhat reluctantly and that w

/china relations? >> reporter: i think it is quite possible, isha, that china will not take any further action than it already has. i mean it is abiding by these latest round of tough united nations sanctions which were imposed about a month ago. but as far as the north korea problem is concerned, china and the u.s. are coming at this d diametrica diametrically opposed positions. china sees north korea reacting in self-preservation, to survival from what they perceive as an aggressive, hostile u.s. which is interested in regime change. the u.s. sees north korea's actions in terms of it is a rogue state completely ignoring international convention and developing illegally a nuclear weapons program together with an international -- with an icbm ballistic missile program which will threaten the united states. china is unlikely to move away from that position. one interesting development here is that the u.s. is talking about upping its military assets in this part of the world in response to what north ko

we work with china and others. china has a lot of trade with them. there is a lot we can do to cut them off economically. much more than we have done already. >> at the beginning of august you will remember that the president raised a lot of eyebrows when he says that his bedminster home that north korea with face the "fire and fury" of the united states. if they continue to threaten the us and its allies. the president also tweeting the us has been talking to north korea and paying extortion money for 25 years.talking is not the answer. so it looks like they will continue with the economic pressure. the idea of military action still very much on the table. >> economic pressure i've been saying all along does not make a lot of sense because we had just begun to scratch the surface and terms of what we can and should be doing with china. people are still saying that there itis some diplomatic opportunity here. there is room for despondency. will that come in the way of economic sanctions or are some point we getting downward to military action? >> cle

we need to look at china. we need to look at africa and really despite the comments about corruption, et cetera, we need to find ways of engagement because that is going to be a growing market. in the next 50 years that market is going to be a huge market. >> kelly jane? >> i think we need to be thinking more on the long game as the chinese are. they are putting all this investment in p africa, and it's not just for the money. they want power and influence. you worry in 15 more year whats are they going to be asking for more than they already have from africans. >> the chinese have a plan and they are enacting their plan and we need to develop a strong foreign policy in regards to africa, and i just leave you with one thing my son said getting back from rwanda. in africa, anything is possible. >> well, kelly -- i just want to thank jeff and kelly jane and achilles for an important topic. everything starts and ends in the united states. what happens around the world also impacts us, maybe not today, but in the

china included. urges relevant parties to halt its deployment and remove related equipment here at the present the situation under peninsula is sensitive complex and the grave up in part is should remain core had it and avoid any rhetoric what action that would activate detention. the priority at present is to comprehensively and strictly implement your school council resolutions and the relevant parties should resume talks and negotiations rather than later endeavor to advance denuclearization and to maintain peace and stability of the peninsula and to consul should undertake its historic responsibility in this regard china will continue to advance dialogue and consultations work together with all relevant parties and make our positive and constructive after forty approach and appropriate settlement at an early date of the current nuclear issue but rather for attaining denuclearization and if what long term peace and stability of to peninsula thank you. that our present accurate china for his statem

could do on china? you mentioned a few right now, but what are the likely scenarios in order to put the pressure on china to act? >> the levers they united states somewhat limited. the trump administration has learned that. more importantly, one of the big tensions when we are thinking about washington dc and president trump has been the difference between his rhetoric on trade and foreign relations and what he has actually done. if you look at his rhetoric, he is very aggressive and was going to label china a currency manipulator. during thebout campaign about imposing tariffs of 45% on chinese goods, partly because the bilateral trade deficit with china is so large. in the first seven months of his presidency, he has been somewhat stayed in his approach, stayed somewhat conservative relative to his rhetoric. thisrth korea does become nuclear power and that is the status quo, there is a risk that the true trump about trade may emerge in the months and years to come. david: we were talking with fitch ab

/china policy. and how can we better pell the chinese -- better compel the chinese government to work with us on this issue? >> i think we need to separate law enforcement from diplomacy. we can continue on the u.n. path on cajoling and pressuring china to do more to implement required u.n. sanctions, but we don't need chinese permission to enforce u.s. law. we make clear to them that we are not going to negotiate away our law enforcement which -- so we can have, or we have had incrementally better u.n. resolutions, but we should not incrementally enforce u.s. law. >> thank you. ms. rosenberg, if you could pull your mic up a little closer when you respond, could you elaborate on data sharing between the private and public sector that you mentioned in your testimony and what we could do, what type of enhancement and capabilities that could provide us and assist you our efforts? >> sure, thank you for the question. in my written testimony, i outlined a couple ideas that i think would be a good opportu

>> that's china's fear. there's been newer talk in china that -- in anticipation of that -- that the people's army would occupy part of north korea in order to coming into china and also -- >> the expectation is that china would somehow seal north korea such that people in north korea could not migrate into china? >> there's discussion of that. it's been on the table a long time. the discussion is recuring. china fears that. that's part of the problem. china fears instability in north korea that could create problems for itself. and worries about that more than nuclear weapons. it's at the crux of the matter. and u.s. has to solve that problem for china. >> thank you, mr. chairman. >> the chair now recognizes the gentleman from ohio. mr. davidson. >> i yield one minute to the chairman. >> briefly, just a follow up on this hearing in the legislative proposal to impede access to finance. would the passage of this legislation being proposed or the mere introduction of a bill that directed treasury to impose the

and china and the u.n. and the international community are able to exert enough economic pressure on north korea if they make things so uncomfortable for them that they are they have no choice but to take steps to move away from their nuclear ambitions and again to listen this visit will provide some insight into how far they'll be able to take that all right and looking forward stephen president trump is expected in beijing in november do you see this kind friendship lasting until then what might challenge it there are some big events between now and then in china they'll be having there are communist party congress and north korea will be celebrating the anniversary of its ruling party so south korean officials said just this week that they expect more provocative acts from north korea in mid october and so we'll have to wait and see if tensions do rise and if the u.s. and china use that increased urgency to cooperate further or if more urgency that leads them to pray and to kind of move apart on how they

use china as crucial to attempts to stop developing nuclear weapons china has strong economic ties with north korea accounting for about ninety percent of its foreign trade earlier i spoke to stephen bora wake our correspondent in seoul south korea i began by asking him how important china's role is in developing channels of communication between washington and pyongyang. if u.s. and north korea are in some kind of direct contact and presumably that's a diplomatic process that's going ahead without china's direct involvement and whether or not that you site sit down to talk will depend on a variety of factors particularly the preconditions that they place on any kind of talks north korea has historically resisted talks that were predicated upon its taking steps towards the nuclear as they should that being said china is of course very important to any sort of approach north korea given the amount of economic power that they have on north korea and i think some u.s. policy makers and analysts have in the past assumed that china has this sort of magic ability to affect north korea's behav

and china? >> reporter: well, it is all about the u.s., china and north korea. china is north korea's most important trading partner. there is a wide spread view that pressure on china leads to pressure on north korea. and a view by some that china simply isn't doing enough. china has done more to try to implement the sanctions against north korea. the reality is that if china wanted to, it could likely bring down the north korean regime. the problem for the chinese though is that they don't want to see that happen. they don't want to see north korea destabilized. remember, north korea is right on the chinese border. and at the same time they very much do not want to see a military outcome from this. they do not want to see u.s. military intervention which china fears could lead to an escalation, possibly nuclear escalation right on its doorstep with a huge refugee crisis and the potential for the u.s. to move into north korea and the u.s. forces to be closer to the chinese border. those are the

was that in the words the words on fire and fury of those words were aimed at china to get china involvement this thing i'm not going to do all on on words that one particular president doesn't use or does use and i can hear him talk about north korea and the threat that it has to the mr mansell my point was that mr trump employs very unconventional language not only with regards to north korea but also concerning the united states' closest ally south korea which interest i'm sure i'm very close to your hardon chief find dot kind of language to rob a question and bone here's the president states if i were president i would use different language mr mandela to draw you back to the question i posed before that with president trump he said that they meaning the north koreans only understand one thing what do you think he could mean by one thing. no he said he said that everything is on the table so you can rule out anything when you say everything is on the table you do not marry down to one thoughts on a doornail asked me to get inside the mind of donald trump because i don't i'm not capable o

he said china's government was well aware of the issues. >> china has a debt problem. china has talked to directly and explicitly about the debt problem for a number of years. you can be critical of china for not having moved aggressively to force its state owned enterprises to delever. david: he is fairly critical of s&p. >> tsa enterprise reform is going to be crucial in terms of state ownedhe says enterprises form is going to be crucial. i had a quick look at corporate debt, it has not moved. there is not much of a expectation that it is going to have much market reaction. if it were, it was probably going to get the national team to step in to support the yuan. reaction market expected. haidi: tom. thank you very much for that. the philippines keeping an benchmark unchanged at a record low of 3%. inflationrs keeping within their target range. now but quite a lot of headwinds going foward. >> i think the philippines are watching the fed moves very closely. it is a big uncertainty for the markets, especially the removal of the managing policy stimulus and how it will

and i think if you look at the china dream, the great national rejuvenation of china, this is to use american terms a blood and soil fascist dream. we have those here and it's the ultimate forcible if necessary absorption of taiwan. i don't think it's a dream that in any way is derived from advice he's getting from the pla in large measure because he's purged most of the people in the pla who could have opposed him. if people in the pla are imposing this on xi jinping how is it they're not getting purged too? this is an individual who i think is very comfortable wearing the reins of power. it feels that it's his mission to preserve the ccp and to expand its influence and feels like he has the political wherewithal to do so and to push forward and that it's what the ccp itself wants him to do or needs him to do if it's going to survive. it's a return to late 1980s neo-authoritarianism. it's very much a discussion that was in vogue almost 30 years ago and seems to be reaching its realization today. show less text >> i'll be super brief so wn get to the audience. i think primarily two t

reporter: china and japan remain an ever present competition, even as china surpassed japan as the dominant power. the growing power also calls into question the u.s.'s future an influence in asia. the book "asia's reckoning" calls into question these powers. good to see you. >> thank you for having me. it is terrific to be here. jeff: you talk a lot about the concept of americana. is it over? >> it is not over yet. asiaericana in east shows america as the dominant power since the second world war and the policymaking power. let me give you an example. it is quite remarkable that 70 years after the war the u.s. still has troops in south korea. it still has troops in japan. it has troops in australia. it has facilities in thailand, singapore, the philippines and the like. interwoven set of security guarantees that the u.s. provides for east asia and has provided for 70 years. i guess linked up up with the economic system the u.s. has built since the second world war and built along with europe, which is basically built around open markets and rules. the rules of the road. portrayed, for secu

china definitely doesn't want a weak. nobody knows i don't know because they don't want to play sion there so they don't they don't want a weak you want well they could be as many i'm with that guy hart in texas who who finally complete she laid it so it could just be them having. the traitor in texas it was discombobulated by nine a long long it was short so. predictable that's completely predictable so these leaders say oh we're so unpredictable there are predictable as can possibly be why because they're motivated by human greed show me a world leader and i'll show you a greedy guy or a woman who is acting in predictably irrational ways to subvert the global economy and humanity for their own gain that's the history of the world very few exceptions the us constitution bitcoin max kaiser stacy herbert. and so she pops well back to the story here so they want consolidation the government wants consolidation and therefore consolidation goes or communists of course they want consolidation they're not into distributed power

it has a virtual monopoly position in china so virtual monopoly position in china so its future is looking pretty rosy u nless so its future is looking pretty rosy unless somebody comes along to somehow challenge them. thank you very much, stephen in beijing. let me run you through what the markets are doing. shares in asia down for the second day after north korea's nuclear test — with investors watching signs that the country could be preparing another rocket launch, possibly an intercontinental ballistic missile similar to the one fired overjapan last week. but we saw bigger falls on earlier missile tests, some suggesting that this just becomes a new normal, rather than the unease we saw when tensions first escalated earlier this year. weaker manufacturing data in the uk yesterday didn't do much to boost confidence either and today it's the turn of service data from spain, italy, france and germany but after a good start to the year and some healthyjuly numbers we could also see some slight fall off here too. more on that shortly, but first michelle has the details about what's ahead

china is a big country, there is not a consensus on anything in china. people have a different point of view. we need to be able to work with the chinese and understand them better. this means clearing the decks, this means all hands on deck. the 100t address different items that we have on the agenda with china, we have to pick some priorities. i would submit that north korea is one of them. i don't think any country can live with a nuclear -- a country aiming nuclear weapons at it. for the united states, this would be the first such country to do so in many decades. finally, this is a kind of gray area, there isn't space between peace and war. the idea that somehow we should strikeme preemptive against north korea, we would not get all of their nuclear materials, and most importantly we would have to make sure the south koreans are comfortable with that. if they are comfortable with that, they have to make sure that they feel they are willing what 20he risk of million south koreans within artillery range of north korea would need. option, it an easy wo

implications for china. we are leading up to a huge politically significant event with the party congress. president xi is trying to show he has deft handling of foreign affairs. he was talking about operation and coordination, but it rained pretty hollow when you look at the region with the division and tensions. then you have the fact china has to look at militarization of south korea and japan as they tried to bolster their security. china has been a great about this missile defense shield. the argument becomes much weaker when you have these nuclear tests being carried out by pyongyang. year. a crucial these will not go down very well. what about russia? vladimir putin is -- they say they condemned the latest nuclear test by north korea, but , premature to be talking about sanctions. russians and chinese are closely aligned on their responses to what we see from north korea in terms of provocation. they have condemned the missile tests, but all signs are pushing for dialogue, saying military action is no

china limits feel exports to north korea and raising the pressure on kim jong un. also disclosed in is evil and where they will. liberal opposition leader is in a close race with the conservative prime minister. and the death toll from mexico's earthquake approaches three hundred searchers refused to give up hope for possible survivors. bronnie and state media has released footage of what it says is a successful test launch of a new ballistic missile a corum shahr has launched was launched rather just a few hours after it was unveiled at a military parade in tehran apollo stressed by u.s. president donald trump that washington may withdraw on the two thousand and fifteen iran nuclear deal present house and rouhani says tehran will not seek permission from any country to strengthen its defense possibilities and capabilities seen em cosell of reports in those one on one these are iran's latest ballistic missile with a range of two thousand kilometers they can reach much of the middle east including israel during his speech president hassan rouhani defended his countr

our china economy editor. in hong kong, the financial secretary says when you look at the housing price situation, it has shown improvement. earlier this year, paul chen sounded the alarm on what someone say is an overheated market, calling in a dangerous situation. he spoke to our hong kong bureau chief at the summit. >> in the past two or three months, the market has quieted bit.a little in terms of volume, it has come down from april and may. in terms of price level, it is the same. basically, moderate increase from 0.1% to 0.3% per month. my assessment of the property market remains the same, meaning that in terms of future supply, it is abundant. -- past supply and demand imbalance situation has been properly adjusted. the number is about 98,000 units in the coming years. , the mostrical high historical high since the publication from 2004. the only factor that may be a little uncertain when compared with the situation in june is that the u.s. interest-rate normalization seems to be slower than expected,

washington calling on china and russia to take action. and markets,sponse 1.10.r-yen above our global disruptors series, alibaba founder jack ma, his plan for international expansion. this is "bloomberg markets: asia." ♪ we thought it was going to be a quiet friday. i would not say there is a lot someise, but there is movement into safe havens. dollar-yen outflows coming through. ind is up, a move down -swissie. suisse on theedit japanese markets and how they are changing their outlook there on japanese equities. , 4055,look at my chart very straightforward. credit suisse is saying if you look at the headwinds facing japan, whether uncertain boj policy, a diminished case for a weaker currency, strengthening since the summer, and we've been 1.10, a flatlining in the markets. you take those two things together and look that the buybacks are tracking lower compared to last year, so it is benchmark right now. we are no longer overweight japanese equities. unsurprising as we move into the open of markets in china and hong kong come 30 minute

but china's strategic concerns need to be met. china needs to be convinced that the u.s. does not seek to put troops close to the chinese border, that if the regime were to collapse the u.s. would potentially back off, china would want guarantees that the u.s. has no larger strategic aims or ambitions for the korean peninsula. >> our chief foreign correspondent, richard engel there in london for us, hopping in the seat as we get this news coming in out of north korea. richard engel, thank you so much for that. stand by, i want to go to molly mchugh, former adviser to mckale sackaash feeley and writer. molly, these pieces of information, and we don't have a lot, we do expect to have a briefing coming out of north korea at 2:30. probably not going to get mitch more. but we have these pictures. and we also have the claims that they are making. and they are big ones. what do you make of it? >> i think it's a really interesting sort of piece of information of what's going on right now more globally as well. i think north korea is definitely cange-rattling. they believe it is t

a sweet spot for china and i think for the market participants in china, right? because you're looking at some companiesefactors of no longer having to rely on sop banks. would be governance improved. you get more international investors scrutiny. from these comments that robert lighthizer made overnight about how the threat almost that china poses with its financial operators is a financial market and becoming more intertwined with the global markets. do you think there is that systemic risk that is then being introduced to the rest of the world? ding: i would say china would still have -- going to take a very measured steps in its financial reform. they were opening up further to introduce more competition, but i would say maintaining financial stability or the financial security is still the utmost importance for the government. so take for example the cryptocurrency liberalization for example, they will move forward whenever the market is stable and the foreign-exchange rate expectations are stable and outflow is eased. this is the conditions to move ahead wi

relationship with china? secretary mnuchin: this is targeted at north korea, and anybody that wants to do trade or business with them. we appreciate the relationship with china and we look forward to working with them. thank you, everybody. >> treasury secretary steven mnuchin, on u.s. plans to apply new sanctions on north korea. president trump announced those new sanctions in new york earlier today. here is the president, with the president of south korea. president trump: it is a great privilege to be with president moon of south korea. as you probably know, we have had discussions over the last several months, and i think we're making a lot of headway and a lot of different ways.

china does not want that. i knew if the trump administration could convince china that it is serious, credible option for the united states, china would say okay, let's do everything we can possibly do including really tough sanctions, let's get on board with the united states and the international effort to try to prevent that, which would be a horrible thing for everybody involved. this is something the obama administration, they said all options are on the table and try to get china on board but china didn't take it seriously. it has taken the trump administration to get china on board, this is a major to phonetic achievement. >> julie: you can easily say this is the biggest development when it comes to foreign policy and president trump and how he has handled this, earning him major credit here. during today's trilateral meeting, they all sung president trump's praises, referring to him as "donald" several times. it shows how significant this close relationship has come between these countries. the closest

with china. i think the road to a solution to kim jong-un's denuclearizing to a degree, or maybe freezing, is through china. china is very transactional. they are very cool. they have been looking at all of this, and i will bet dollars to donuts, given my experience over there in how they operate, if they are looking for an opportunity here, china could very well save our bacon. china could very well -- anchor: how? yvonne: -- max: china could very well say that this has got max: pretty far, and here is an opportunity for us to help the united states. how, do you ask? put a lot more pressure on kim. oil, stopm get any the oil exports into north korea. there are a lot of things china can do. tenant has been willing to deal with the status quo, but we are getting to the point where i think china is starting to see that their opportunities are for china, too. i think we should work as best we can. anchor: we heard from the theyury secretary saying are the few at these options of putting more sanctio

to put pressure on china? >> the president has been very clear that he views this threat of north korea as ever growing, as we've watched each missile test and each nuclear test their program is advance, it's advancing technologically and capabilities. we've said from the beginning we don't have a lot of time left. we don't have a runway left to land this plane on so we need china's assistance to bring them to the table. >> dickerson: this week the president is going out to the united nations and going to speak. he's talked about an america first policy, one he's talked about. united nations is a collective action group how does america first fit into a group -- organization that exist through collective action? >> it's a very important week for the president and the u.n. general assembly. there are two aspects of his participation up there. one is his major speech that he will give to the general assembly, the world will be listening, american people will be listening. the message he's going to deliver in tha

so china, every won should look to china for the key on that put the pressure on china. >> u.s. i guess wants china to be a bigger player in terms of helping to achieve global stability. >> john thank you so much, hillary clinton out with new book today, anything for a buck; right? we're on it next. dynamic performance, track tuned handling, and aggressive styling. the bold lexus is. lease the 2017 is turbo for $299 a month for 36 months. experience amazing at your lexus dealer. . trish: breaking right now you saw first right here on "the intelligence report," on fox business. apple's big new iphone 10. they just released it whole event under way hillariry overdrawn this facial recognition stuff kind of cool. reporter: sure big headlined no home button means this is how you unlock your phone there using facial recognition, technology, it is called face id similar to touch id except all you have to do look at phone reads your facial features get access you can also approve payments this way a lot of people wonder how easy to trick the phone into thinking that a photograph of you

opinion was like china could do more because china had 97% of north korea's trade. however china is not willing to do some of the things that donald trump asked china to do. if you think about it, donald trump is trying to bully china and russia, and in some ways, south korea, into his own policy path. and china takes the view that sanctions will be ineffective. after all, china has had that kind of history, when china developed its own nuclear programme in the 1960s, china was isolated, chairman mao was considered a madman and the chinese were willing to eat grass and have that nuclear programme. so china absolutely understands that functions would only harm ordinary people. and in some ways, because they are so indoctrinated by kim's views and the propaganda, they will sacrifice their own lives, so to speak, to have this nuclear programme. that ta kes have this nuclear programme. that takes precedence over everything by definition. but china absolutely does not want a nuclear north korea, nor south korea, nuclearised. so china is in a difficult position, particula

china is a big country. there is not a consensus on anything in china. people have different point of view, and so we need to be able to work with the chinese and understand them better. this means clearing the decks. this means all hands on deck but also means clearing the decks. we cannot address the 100 different items we have on the agenda with china. we have to pick some priorities. i puts a bit north korea is one of them because i don't think any country can live with my country aiming nuclear weapons at it, and for the united states this a be the first such country to do so in many decades. finally, this is i think a kind of gray area, there is some space between peace and war pick the idea that somehow we should have some overt or some preemptive strike against north korea, one, we would not get all their nuclear materials, and two, and most important like, we would have to make sure the south koreans are comfortable with that and for the south koreans to be comfortable with that they would have to make sure that they feel they are willing to run