ambassador to china -- the china ambassador to the u.s. that they wanted to avoid a trade war but would not back down it one was initiated. china also said they will work through issues through the legal processes through the wto and they want to see dialogue to scale back these tensions. in terms of further pressure point, key is agriculture. there is about $140 billion worth of goods imported into china and that includes soybeans. that is another potential pressure point. clearly, china -- and we heard this throughout the congress from policymakers and leaders, they want to avoid a trade war and will take a measured approach for now. they've also said they will not back down if trump escalates this. yvonne: perhaps this is the warning shot from china, tom. do we get a sense of how far china is prepared to go? they have touted a list of other pressure points in the past that they could apply on the u.s. should they choose to. they would escalated if they were to switch boeing orders to something else or start targeting companies like inte

china is right. china needs the u.s. as much as it needs the u.s., but there is in beliefs.tion it is when both sides believe the situation is different that you get huge mistakes and things like trade wars. that is the first problem. problem sois a big to speak. and mnuchin going on, talking about this, the trade war, as you mentioned, there are talks going on between the u.s. side and the chinese side, but it was interesting to see william ferris' reaction to this. he is the chairman in beijing. this is what he said about any talks going on between the two sides. >> what i heard from many sources is the u.s. was not in many -- any mood to talk, and there it -- they are still not. i am not sure where these negotiations are going on, but i have heard nothing that there is communication going on. betty: brad, with the actions so far between the chinese side and the u.s. side, do they reveal there are in fact no talks going on? brad: presumably there are talks , but talks about what? ask right now is china will do less chr

china is considering some of the softer data that we got out from china, the manufacturing pmi data also in the mix. it seems the funds have been told to ensure they are not doing any big selling over this political event. it is always about trying to maintain an aura of stability during these events. haidi: tom, thank you so much. lots more to talk about, all about china. credit agricole's dariusz kowalczyk will be joining us later in the show. does it reflect the poor numbers we had yesterday, rish? rishaad: plus, our next guest expecting more volatility in chinese new economy stocks this year. we will be meeting ken wong next. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." i'm haidi lun in sydney. rishaad: i'm rishaad salamat in hong kong, looking at the latest business flash headlines. noble group says it's very survival depends on a controversial restructuring plan -- its very survival depends on a controversial restructuring plan. had, quote, "no magic pill for investors facing a debt haircut." haidi: the operators of southeast asia's biggest gaming platform repor

export to china was soybeans china is also already announced an investigation into sorghum green something these don't sound very sexy but they hit midwestern states that are very pro-choice. up and so if china wants to pursue some of the same strategy as the e.u. proposed pursuing which was selecting certain. firms out of very selective states for example i think harley davidson was out of wisconsin that was going after paul ryan his home state this idea of let's put pressure on those states that are allied with the people who are putting these in a place if they say we can have a political effect on trump then maybe they go with agriculture but yes if you are a retail if you're a retailer in the u.s. if you're wal-mart you're nervous they have a huge operation overseas if you're building things in china as a lot of u.s. firms are you're nervous and then there's also been speculation that what if china chooses to dial back its purchases of u.s. government debt there are enormous purser of u.s. treasuries that could be destabilizing so they have options this is a tangled web of globalism o

also coming up china says it will fight to the end trump goes ahead with new tariffs that will hit sixty billion dollars worth of its trade every year amid growing fears of a global trade war find out what the german government's transatlantic expert thinks. leaders heave a sigh of relief at their summit in brussels they hear that europe will be exempted from crumbs of steel and aluminum tariffs for the time being. i'm sorry so much got the good to have you with us u.s. president donald trump once again dominating the world's agenda with two moves replacing his national security advisor and proposing trade tariffs against china on security it was well known the trump and his former national security adviser didn't always see eye to eye so it was no great surprise when he named a conservative bush era hawk john bolton as his new with national security advisor trump announced on twitter that bolton would replace a general master bolton has advocated using military force against iran and north korea so his appointment could mean dramatic changes in the administration's approach to crises ar

well china says yes plenty of measures to fight bag areas of. in pods so i've been through all the electronic chips and spies don't forget you know china is h.-u. the largest manufacturing base for some of the largest our u.s. electronics companies such as apple as well as intel and of the u.s. also has traits up last surprisingly in the small area of every culture and that's where china presence d.t.p. is actually are hitting at it's actually launch a probe into u.s. exports of soybeans saw them and is studying ways to restrict shipments also have been coming into the country and these are target and other crops that mr trump's support and some politically important farming states and china can quickly also throw out non-tariff obstacles to trade such as stepping up safety inspections and the people were essential for goods and to the country so these are some of the tit for tat things that china could do to the u.s. to get back all right linda was just talking them michael about some hot rhetoric from china towards the united states do you thi

and china? are we on the verge of a trade war we'll talk with peter navarro up next live right here as we look ahead on sunday morning futures we'll be right back. pssst. what? i switched to geico and got more. more savings on car insurance? a-ha. and an award-winning mobile app. that is more. oh, there's more. mobile id cards, emergency roadside service... more technology. i can even add a new driver... ...right from her phone! geico. expect great savings and a whole lot more. maria: welcome back trade fears rocking stock prices after president trump announced new tariffs and restrictions against china. peter navarro is the director of office of trade and manufacturing policy and he joins me now peter it's good to see you sir thanks for joining us. >> good morning maria. maria: tough week for markets on these policies. what are people missing, peter? >> i do think it was an over- reaction based on incomplete information. you have a virtue us cycle of global synchronized growth as you talk about

and china. he is seen as close to both beijing and president trump, and has reportedly counseled the president against imposing tariffs. he told bloomberg television chinese leaders understand the playing field needs to be leveled. >> there is no doubt there is a serious imbalance between the u.s. and china in terms of market access, and a tariff levels, and nontariff barriers to investment limitations. part of this happens in the natural course of things. >> the european union is questioning the rationale behind president trump's trade tariffs, saying they will jeopardize transatlantic ties. will seek anbloc exemption, and also countermeasures. mario draghi said a potential trade war with the u.s. posed more risks and uncertainties to the recovery of the e.u.'s economy. >> there are potential second-round effects that could have much more serious consequences. these include the risk of retaliation across other groups, and an escalation of trade tensions, and the potential for negative effects,

about china's credit. can the markets adapt to a slower china? >> i think they have been adapting to a slower china for the last two years. if you take a look at the chinese equity markets, the biggest gainers are no longer the commodity sensitive sectors. migration.dence of a it has become a more technology focused index. most of the indices in china are technology focused. they are very financial and technology-heavy. that is like our markets. that is different from the china we used to know. if you look in terms of trade, china is a very different growth engine than it was five or 10 years ago. that is starting to be reflected in the economic data. china intercession is something we haven't seen -- in recession is something we haven't seen. does this become something greater? i would say most of the desk just's it might be greater for a while, and yet we considered to proceed. i don't think china is a tremendous risk right now. we can absolutely absorb slower growth. there are a lot of question marks. if we have a war on intellectual property

china does not want to trade with. imports of studio or aluminum from japan do not pose a threat to u.s. national security in fact they have contributed greatly to industry and employment in the united states. so i wonder is could it's kind of interesting to see the products that mr younker is citing i mean steel ok heavy duty important part of economic growth bourbon and harley's mentioned him opening statements the sandbox right where kids in a sandbox box is preschool level no there's no there's no surprise about these products your opinion has picked i think peanut butter harley davidson and bourbon and orange juice specific things that are either not only very american but that hurt. workers or industries in industries that have republicans who. might be separated from trump in a hurry this way so this isn't it being bourbon being kentucky and kentucky being the state ruled by the majority speaker in the senate the senate and so it would be interesting who's doing the congressman right there where that where it is

and you mean china's premier says his country wants to increase foreign investment and even promises equal treatment for chinese and foreign companies get more from beijing. coming up same goal different strategies how u.s. trade partners are trying to avoid those punitive tariffs. and tommy davidson easy gearing up for higher prices in germany potential victim all that looming trade. peace is your business update on how it all free in a but good to have you with us now. trade is in the air and in the united states either negotiators have done over to washington d.c. to try and score an exemption from the tariffs on imported steel or aluminum go into effect on friday and china is doing everything it can to make it know that it's still open for business. life can be tough full foreign companies in china there is little security for intellectual property and technology transfers are regularly demanded of all who want to do business there those are the main complaints but beijing is having none of it at the end of the annual parliament session and during the current trade conflict china

to china or any place else which makes or could. all right so we've got that is she max and then there's also the issue at this summit the poisoning of a former russian spy on british soil we know that the british prime minister she's looking to get backing from her colleagues there in brussels is she getting what she wants. we haven't seen the exact wording of the declaration at the end but what we do know is that there probably won't be any unconditional blaming of russia there will be a lot of it is likely that russia was involved there's a high likely there would because the only country we really have that says it's definitely russia is the united kingdom closely followed by france but if you look at the wording that i'm going to macro for example the german chancellor used the past days she's a little more careful so they don't want to be one hundred percent on this but at the same time they want to show absolute solidarity with the u.k. and look for the balancing act in the final declaration but we do know for example that i'

we are heading over to china. china shakes up its financial sector. this time it is the central bank getting more power over financial regulators. what does it mean for financial oversights in the world's second-biggest economy. we are live in beijing next. this is bloomberg. ♪ tracy: this is "bloomberg markets: middle east." i am tracy alloway in dubai. let's get you a check of where middle east markets trade on monday. we have the dubai index taking losses after the game we saw on sunday. abu dhabi, little changed on monday but some big gains in the possible -- in the kind i will -- tadawul i think we might be discussing more of that later but first let's get a quick check of the latest business flash headlines. the wall street journal says the saudi government has taken veto power. decisions in both the investment company and prince hollande now in thewaleed is saudi kingdom. his shares in the company are unchanged since his release from detention from the ritz-carlton last month. general election paying out more than -- the company even has its

these tariffs are targeted at china under a u.s. law called property01, all under theft by china. it is through a variety of means. could a tougher u.s. trade stands vote for the tariffwtzs and this topic had to come up sooner or later anyway. it is too bad that a president named donald trump has to bring it up in a particular way. but china, if you look at the economic policy, and not just the trade policy, it is a catalyst in this nationalistic holocene. president only has 2.0,come president mao but like the united states, they have a long-term plan to project economic power, of which the biggest element is called one b elt, one raod, the new silk road they use the foreign investment to project economic power through the eurasian landmass in africa. they bought up the port of courageous and later announced -- very controversially so, not just to finance tech companies for the city grid, but a secret base, the late, but described the agency. but,it comes to forward when we are looking at china, it is about more than trade and we have got to bring this up. we have got to get them

coming up pomp and pageantry reported after the fact it began as a secret meeting we now know that china gave north korea's leader a lavish welcome in beijing kim jong only reportedly assured china's president xi that he is committed to deep nuclearization and a national day of mourning in russia funerals have begun for the sixty four people who died in a deadly shopping mall fire in siberia many of the dead were children. i'm for golf it's good to have you with us tonight on the streets of paris they are remembering a woman brutally murdered in her apartment last week eighty five year old holocaust survivor marie no thousands took to the streets in her memory and to protest. against a wave of anti-semitic attacks across france there have been reports of isolated scuffles firefighters discovered noles partially burned body after being called to a fire in her apartment in the east of paris she had been stabbed several times police have arrested a neighbor and another suspect. lisa lewis has been following the march for d w she sent us this report that lots of it jewish people here also no

david: is it the biggest opponent china? cap china reunified with u.s. forces? >> that is a great point and there is reasons that china doesn't want south and north korea to reunify. in have korean nationals northeast china might be agitated to want to join a greater korea. right now they don't, because who wants to join north korea? but if the korean and select is reunified, you could have if you million koreans in china who want to be back to the motherland. much, thank you very isaac stone fish. i is hedge fund billionaire robert mercer moonlighting as a small-town new mexico cop? how the badge to get him one thing you cannot buy where he lives on long island. this is bloomberg. ♪ david: this is boomer "markets: balance of power". shery: let's get a quick check of major averages. the dow is being led higher by telecom, real estate. the same for the s&p 500 which is up, although we see consumer discretionary and energy sector leading declines. the momentis flat at around 7000 and we know that make up cap tech shares are taking a beating. netflix,lking amazon

develops overnight, china fires

china is frankly not surprised. anybody who's been talking to chinese officials over the last couple years knows they have prepared for the possibility that donald trump would pursue a more confrontational approach on trade. they know exactly what they're going to do. they've said as much privately. they would attack american aviation manufacturing, boeing for instance. they would go after agricultural exports, places like iowa, which they know are essential to donald trump's political base. so this is the beginning of the game. this is by no means the last step. >> and what about the idea that this will kind of produce a greater erosion of the world trading system and order of, you know, the two main countries. the first and second largest economies in the world enter into some kind of trade war, liz. that doesn't bode well for the open liberal international order. >> no, it certainly doesn't bode well. and i think, you know, the hope will certainly be that, you know, other actors in the united states are going to

of a trade war with china. it was the topic this week. let us start with sergio ermotti. they start to get concerned. i think for the time being, the numbers are modest in respect of the impacts. the deliberation of these tensions on a bilateral basis. potentially escalating. this will not be good for growth or geopolitical reasons. at this point in time, we do not see financial markets of being overly impacted by this protectionism, i do think if it goes on, it it will be very disturbing. >> the market selloff on friday was pretty severe. why was it priced in? >> at the end of the day, you look at this and how it is difficult to understand the corrections that are coming as a consequence of those announcements. being, we remain constructive on growth. as i said before, we have to pay attention if this should escalate and create retaliations. particularly if it goes beyond tona and the u.s. and starts touch other countries. that could become problematic. abigail: former treasury secretary larry summers says the

should dump the iran nuclear deal so what could his appointment mean for global security also coming up china says it will fight to the end if trump goes ahead with new tariffs this is set to hit sixteen billion dollars worth of its trade every year stock markets plummet on fears of a global trade war. and leaders may be relieved to hear that they will be exempted from crumbs tariffs and but they say they are ready with their own as a trade war breaks out. i'm sumi so much going to get to have you with us u.s. president to trump a speaks and a sense the world really has announced two major moves a new national security adviser was notably hard line views and the threat of higher trade tariffs against china on security it was well known that trump and his former national security adviser didn't always see eye to eye so it was no great surprise when he announced that conservative hawk john bolton would take over the role bolton has advocated using military force against iran and north korea so his appointment could lead to magic changes in the administration's approach to crises around the worl

we got overtaken by china. we got overtaken by china. china is moving from a manufacturing assembly economy to a knowledge-based economy. are always whining about china, democrats and republicans. they cheat on their currency and treat people poorly. they have a horrible human rights record. the water and air quality is deplorable. do you know what they do? they invest in the growth of their own economy. china just invested or is investing $1 trillion to open up the chinese economy to 60 countries in europe and africa .nd asia and latin america $1 trillion. they are positioning themselves for future economic growth. we have an infrastructure bill that is $200 billion over 10 years. it's equivalent to the amount that american taxpayers finance for the rebuilding of iraq and i get -- afghanistan. you have a global vision. please admonish this president and this administration to do better, to position the united states to compete because the united states can compete effectively with any country in the world so long as there is a level pla

dream for example the final revitalization of china and china becoming part of the world of the common destiny of mankind and i think this does not mean that china will ever tolerate another authoritarian auto teller tarion rigor that we need to have more transparency of our accountability more openness there's article you are just we're almost out of time and i want to get one more question into joseph joseph how does all this affect the pro-democracy movement in hong kong very quickly please could almost at a time we see this. and it dictation that the general continuous nine policy towards hong kong there's no tolerance of the pro-democracy movement and it is feeling rather uncomfortable about hong kong because hong kong happens to be the major source of criticisms against the chinese party regime. all right gentlemen we're going to have to leave it there thanks to all our guests victor gao joseph chang and carrie brown and thank you too for watching you can see the program again any time by visiting our website al-jazeera dot com and for further discussion go to our facebook page t

ok and let me get it go to you let's start talking about china is this really just about china go ahead and. i think it is largely about china this tariff this global tariff really is because they're worried about china still going through other countries coming into the u.s. so they want to close off all doors so yes it is targeted at china but then there are going to be a lot there's going to be a lot of collateral damage as a result and so. you know the ministration is going about with very blunt tools. it's clearly not gaining friends or your allies that it will going to talk about that after their brave issue aside i'm going to a short break and after that short break we'll continue our discussion on trade war state with a marquee. some is not is not quite place is not a good country and. true. but a minister in the bush family as well. as you can just look at that as a call to. the future actually. let's. check the. polling in just a little embarrassed from the among the muslims will be. there you can see the bubbles in the. dots that come out of what john said i'm based on the mu

china has called on the u.s. to pull back from the brink as fears of a trade war grow it says it will impose its own tower ifs on u.s. goods if president trump insists on taxing chinese imports stock markets around the world fell off to trump's and else mint of the plan cruz a new president has been sworn in martin vickery is taking over after congress accepted the resignation of bad republican chin ski he resigned amid allegations of corruption and investigators in the u.k. data watchdog have entered the offices of cambridge analytic a week after revelations the company misused data from facebook it comes after a high court judge granted a search warrant for that building in central london last week a whistleblower feel the company harvested the private information of millions of face but uses to support trump's two thousand and sixteen presidential campaign counting the cost is coming up next stay with us. there were seven candidates vying for egypt's presidency. now there are just two and with president abdul

president donald trump slapped china with fifty billion u.s. dollars in paris and he said there will be more as for europe trump says he's willing to talk no tariffs tonight but no promises for tomorrow i bringed go off in berlin this is the day. we have right now an eight hundred billion dollars trade deficit with the world we have europe they have barriers that they can trade with us but we can trade with them we have australia we have argentina the word is reciprocal if they charge us we charge them the same thing we have brazil we've had this abuse by many other countries. and obviously korea but we have one particular problem and that's china i can't believe we've been able to take advantage of the united states for so long so those days are over. also coming up tonight facebook c.e.o. mark zuckerberg finally talking germany's government once him in berlin testify. i'm demanding an explanation of why this could have happened with a chairman users in accounts very fact it and what facebook intends to do to stop anything like this from happe

china. our response here at home during the last ministration was to provide our military with indic adequate funding and budget and certainty now in new era of great power competition russia and china in china which we witnessed during our [inaudible] last week there reclaiming land to be used for their own purposes and it's a pretty scary thing so director post, you summed upp the gravity of the current threat environment when you wrote in your prepared statement that risk of interstate conflict including among the world's great powersgr is higher than any time since the end of the cold war. on that happy note i will thank you very much for being here and senator. >> thank you i like to come back our former colleague and general ashley, thank you, sir.e, the new national defense strategy states that the centrai space of our nation is the reemergence of the strategic competition with russia and china and this competition replaces terrorism as primary concern for the us national security. wi

or other companies selling products into china. there is an intellectual property negotiations going on. china's investments in the u.s. and access to capital markets could be restricted. there are other additional measures that can be taken by the u.s. and president trump is not going to blink on this. charles: by some estimates china's annual trade is up to $600 billion annually. i thought the reaction to potential tariffs on aluminum and steel was over the top. we can no longer afford to look the other way. boeing was hammered today because in parts they are going to sell china over $1 trillion worth of planes. we want to see that happen, but we are looking for some semblance of fair trade. >> i agree we are looking for that. i don't know if we are going to get that. as the investors thought, this will and shots across the bow. the president campaigned and fighting against improper trade. china had a $300 billion record trade excess with the u.s. the fact that he's bringing this up now and this shot across the bow with steel and

and china so far? is it balanced or is it imbalanced and if it's him balanced should we address it -- imbalanced, should we address it? currentlyhe president refers to our $500 billion trade deficit with china and it is dead wrong. the number is $375 billion. we have trade deficits with 102 countries. we have a multilateral trade deficit because we don't save. when you don't save and want to grow, you import surplus from abroad. we want to address the china deficit, we have to look at it in the overall condition of macroeconomic imbalanced. we don't jus fix -- just six china without -- talkwe are not going to canadian hockey and the horrific teams of canada except for the toronto maple leafs, you and i have known very forever. he was an esteemed economist in the 1980's and 1990's. in the 2002y well classic study of the game, but 1600e has a shift into pennsylvania avenue. would you suggest he can go from a supply side commentator to a more balanced advice approach to the president? michael: no. i have

saying china is doing? reporter: we heard from an official yesterday who outlined the case for these tariffs. gave a great deal of time to reporters to justify why these penalties will need to be put in place. he basically traced it back over 3 administrations. clinton, everyone since has tried to get china to start playing by the global rulebook and it has refused. this is not something the trump administration has pulled out of the hat. it has been going on for years. what we will hear from trump today, putting his stamp on that and saying i will be the one who hits this issue head on with china not playing fairly by the trade rulebook. vonnie: is this an opening salvo ? we were expecting more tariffs. the justification for the value of tariffs, penalties put on china, what the u.s. calculates has been the pain inflicted on the u.s. the economic losses. whether $50 billion or $60 billion, it could include investment curves, limiting visas for chinese nationals into the u.s. -- the idea is to send a signal

sea over islands that have been occupied and fortified by china. that is the uss carl vinson, more than 300 metres long, 100,000 tons. this is unrivalled power but of course, it is power and this sensitive region it cannot be used and up to now has been very little difference to what is happening in the south china sea. we are now on the flight deck of the ship, this is the business end of this carrier. it has more than 70 more of these aircrafts, unparalleled military might, and matched any power in the world but despite america's literary supremacy, the fact is that china's implements continue to grow diplomatically and continues to expand its construction and fortification of islands in the south china sea. vietnam's is all too aware of that, it welcomes this us engagement but has to calibrate its partnership with the us very carefully in order to avoid provoking its giant neighbour. you have been watching newsday. stay with us. i'll be back with business news. we will be seeing how america's investors seem less nervous about a potential trade w

and they said that's swallowed china. first, swallow korea and then china. he thought he would tell them about japan's advantage about where japan had to be to defend itself and not let other powers dominate china and the navy, historically has generally been more aligned to britain and america, the maritime powers with one very important exception, in world war ii. just as the u.s. has shifted this maritime to view, so has japan. war, in what is called in 1955 system, the liberal democratic party, the mainstream was, especially after with in the relations china, the mainstream was about china. to had to maintain a balance because it's china than the u.s. is. when they collapsed, that mainstream view flipped. tom the prime minister today, every japanese prime minister was called the anti-mainstream. that is much more pro-taiwan were maritime. taiwan, before the view ofion, japan was pretty positive but with democratization, the dpp has kind of aligned a bit with this maritime view. i was curious to go into thousand 61 i left them and was a private citizen. i

demands will be which will help china. it's a visit the would have seemed unimaginable just a few months ago where north korea was ignoring chinese appeals for restraint at an exhibition showcasing some of china's technological achievements the message appeared to be we can help you with all of this if you behave. china's leaders are fond of metaphors at a lavish banquet she told his guest that in the beautiful season of spring everything comes to life kim replied i believe our meeting will yield abundant fruit that could mean making good on his commitment to give up nuclear weapons but the fruits of spring were apparent in the garden of the state guesthouse where friendship also seemed to blossom she accepted an invitation to visit north korea and told him he was welcome to visit china again the visitors left happy adrian brown al-jazeera beijing. south korea greeted news of the china summit with kathy novak has the reaction from so. the south korean government says it welcomes the visit by kim jong un to china and says t

what is china likely to do? think china's response to any sort of hawkish confrontational actions from .rump on multiple fronts i think china can use more diplomacy and dialogue. that's why they have sent two high-ranking officials to the u.s. to discuss these matters. china can provide more reciprocation as trump wanted come in terms of energy trade. i think petrochina will raise their u.s. energy import this year by 80%. and china can open up its the mystic market and financial system more open to the u.s.. this is the area that in the u.s. firms do have a competitive advantage. i think retaliation in terms of putting tariffs on the china -- the china would consider. haslinda: of course, we have the mpc meeting right now. we have xi jinping in power indefinitely. some are saying that, in the short term, that is great. there will be stability. but in the long run, it is open to policy mistakes. >> if you look at what xi jinping wants to achieve for china come in terms of realizing the china dream, and a lot of

the north korean regime cannot survive without china. issues the existential when it comes to how to tackle north korea. what he said about piracy, what he said about discrimination against foreign investments, what he said about propping up the north korean regime and also increased chinese military presence in the south china sea, a real geopolitical hotspot, our concerns widely shared by republicans and democrats in washington. it important thing when comes to north korea is to know that the north korean regime is not suicidal. it has shown in the past that while it is difficult to deal -- it isnot willing saber rattling and talking about going to war with the u.s. it has not actually done that yet. that is why a lot of people in the administration, even the president, who has spoken about talking with the north koreans, sees an opportunity for diplomacy to take the day. host: from michigan, anthony, go ahead. caller: i am more concerned with opinion on whether the trump administration is trying to undermine qatar. guest: another one

russia used to be china's big brother today it struggles to accept that china is superior and she's also mentally we're told of course china and russia are cooperating on military to raise for geopolitical reasons but the new silk road has little support in russia because russia has its own eurasian project and with the shah she's a housing hero yeah and if you find any of these. groups you look at all stalin for putin as for stalin before him military strength is the primary factor position but that's just not enough in today's world and if acutely you need an efficient economy technology science if you were to work with putin's russia it has none of that in the cosmic stan and his backers stan are already turning towards china while trying to maintain a balance but russia's all talk with leaders go order china has the money all russia has is memories who glorious past it was when the overly copple for. people like to come to the bridge of orenburg to enjoy the sunset looking west towards europe but many confess that they're looking the other way more and more often. at this moment as i

organization so that china has filed more than four hundred six block chain patents last year china filed two hundred twenty five patents compared to i'm sorry that many in total china filed two hundred twenty five patents compared to the us which filed a mere ninety seven patents however this does not take into account that not every company patents all discoveries and it doesn't guarantee that the patent will lead to any viable products some of the applicants include bank of america and mastercard international while the patents may not lead to too much they are helpful in attracting investor capital as as well. eventing ownership disputes in the future. and when it comes to china here to discuss trade tariffs and some other trouble out there are two trade experts alex mahela bichon toronto and caleb in new york gentlemen thank you so much for joining us caleb let's start with you the big news is china reacting although some thought they might react stronger but china is playing a long game here what do you think's going on caleb. bart if you look at china's recent history this is

china is leveraging to a certain sovereignty claim, features in the east, the south china sea and china india border region. beijing's military modernization programs are expanding with an intent to invest in a range of motion's beyond china's periphery. and us and allied forces at risk at greater distance in the chinese mainland. russia views the united states as the primary threat to national security and geopolitical ambitions. the kremlin seeks aspheric influence of former soviet union states with eastward expansion of nato and ensure that no international issues are addressed without russia's input or its expense. the criminal views the strategic nuclear force and foundation of russia's national security with modernize general-purpose and nonstrategic nuclear forces as critical to meeting its congressional military threats. russia's aggressive actions abroad over the last several years, military intervention in syria and ukraine, and increased moscow's geopolitical profile. afghanistan, in south asia in the past year, defense and security forces protect major propagation centers an

china business council said china wants to know what the u.s. wants them to. >> there was a lot of verbal threatening and we are talking about a .1% impact to the economy of china. we have been in a trade war for over a decade. when people are fearful of a trade war, that's ridiculous. we have had job loss. something has to be done. the president said he will get tough for china. i think is the right thing. >> bret: okay. mark that down. >> yes, i agree with the president. >> bret: the week for facebook, not a great week for facebook. they are apologizing, tom what will happen here? >> a fascinating story. this double standard applied to the trump campaign versus what obama did in 2012. the question is, this is part of the growing back lash against big tech across the country. i think facebook is in trouble. where this will lead, we have incidents like this privacy violations and tell lead to regulation if not breaking up big tech in the end. >> bret: fascinating to watch from a government perspective. winners and loser. it's friday. winner firs

some insight into how china needs to open up to international companies. when you say china is more open and interested in the services sector, what about the area when it has strengths and does not really want competition like technology. 0ver the years, companies like microsoft, apple and google have struggled to feel they have a level playing field in china. will that change? it's maybot it is all about competition, all about letting the markets work at its best —— it may, but it is all about competition. chinese companies are rising but that is because perhaps they understand consumers, very much so in china. that is not to say international companies don't, but i think clearly for chinese companies they can navigate to the market much better than international communities. thank you for your time and analysis, jinny yan. some breaking news about sarkozy, the former french president, nicolas sa rkozy. the former french president, nicolas sarkozy. he is being held in police custody today for questioning by magistrates looking at allegations of libya

they bet wrong on china. they believed it was going to move incrementally to a more uralistic syem and a market economy, a much more open econ they are also saying that with this decision china moves from autocracy to dictatorship. how would you sum up the type of leadership we're about to see? >> i don't care what kind of title you call mr. xi or what kind of label you apply to china. all we want to look at is the policies president xi has been pursuing or the direction in which china is moving. if you look at the last 25 years for roughly about 10, 15 years china was more or less moving in the right direction. the society was opening up. the economy was becoming more liberalized, and engagement with the west. with the rest of the world was also moving in the right direction. you cannot say this about china for the last ten years or especially for the last five years when chinese society is becoming more closed. politics is much more repressive. foreign policy is creating a lot of tensions with the rest of t

china says kim jong-un had visited china march 25 to 28, and met with president xi. arriving andng-un departing on that train after meeting with china's president, xi jinping. we have been talking with stephen engle over the past few days, we probably would not get confirmation until after this visit. it looks like that is the case. yvonne: it goes to show the improvement in their relations between china and north korea. is getting pyongyang serious about improving relations with the rest of the world, especially ahead of that summit with president trump in may. betty: making a tour with his counterparts. rio tinto officially out of the a billion dollar deal to sell its remaining mines in the past week. paul allen with more on the story of rio tinto. they reached the end of a long road here. that is right, it has been about five years in the making. it came to an end this week with an agreement to sell the kestrel project in queensland to a private equity firm, emr capital. project.lion for that it follows a deal where hail creek and valencia were sold to glencore. g

organization so that china has filed more than four hundred six block chain patents last year china filed two hundred twenty five patents compared to i'm sorry that many in total china filed two hundred twenty five patents compared to the u.s. which filed a mere ninety seven patents however this does not take into account that not every company patents all discoveries and it doesn't guarantee that the patent will lead to any viable products some of the applicants include bank of america and mastercard international while the patents may not lead to too much they are helpful in attracting investor capital as well as preventing ownership disputes in the future. and when it comes to china here to discuss trade tariffs and some other trouble out there are two. trade experts alex mahela bichon toronto and caleb open in new york gentlemen thank you so much for joining us caleb let's start with you the big news is china reacting although some thought they might react stronger but china is playing a long game here what do you think's going on caleb. bart if you look at china's recent histor

is not whether china is a good partner or not. china is making itself available as a partner. the competition to china is not availing itself. invest andady to ready to find extraction of resources for its own benefit. the challenges -- the challenge muchthey will be more amenable to consume products from the west and china. when the west is reluctant and china is availing itself that is when opportunity is created. shery: thank you so much. next.oming up this is bloomberg. david:david: reports are that san francisco fed president john williams may succeed new york fed president bill dudley but not everyone is happy at the prospect of turning to yet another white man who comes from the financial sector. gina, i saw this over the weekend and by this morning we had cory booker coming on and saying that's not a good idea. gina: booker was saying we need a diverse pick. he did not specifically reference john williams. what's important to note is williams, while he has known big banks, he is the storied macro economist. he's also a white man and that is a concern because so much of

we disagree is china tariffs to get there. liz: you are the voice for giants like microsoft, apple, ebay, mcafee, even visa cards, why are the companies urging restraint against china when it's there, it's proven that china harbors a hotbed of pirates and thieves who have stolen, knocked off and pirated these companies's innovations? >> what we're urging is we do things that the united states takes steps that are likely to work in leading china to open up its market. so tariff is a tool, our view is it's the wrong tool for achieving that goal. the goal is to get china to open up and to do that we need a multifaceted approach that includes working with u.s. allies to persuade china on the right approach. liz: how would you do that considering it's been tried before, and we've come up empty handed and they've come up with a lot of our secrets. it's even been hashed out in courts around the world. you remember the gigantic crane company where china said you help us build our skyscrapers and the intellectual property of how they b

crackdown on china the barriers to chinese exports are supposed to protect american security and jobs but investors are seeing the start of a trade war. and this trendy watch company in detroit is key for the city's economic revival but it can't do without parts from you guessed it china. it's time for business on the w. and how you got to get us welcome to the program china said it is preparing tariffs on american imports in response to u.s. penalties on steel and aluminum the take effect today chinese officials vowed to defend against an even larger number of tariffs signed by president donald trump global markets are already worried china could hit everything from american pork and apples to steel pipes its commerce ministry said it encouraged trump to negotiate but gave no deadline trump has demanded reciprocity in trade and is threatening tariffs on up to sixty billion dollars in chinese imports the chinese have said they'd prefer to convince washington to change course but they also say they won't be bully them it's obviously arrogant they've misjudged the situation and underest

we want china to do more. china is not doing a lot, but keep china part of the solution there. the solution to north korea has to include china. china is a big part of the block. china is not going to be anything unless china is part of the solution. >> and now that china's leadership has moved more toward authoritarianism, do you see that in any way influencing the region, especially as it comes to north korea? >> no, i don't. the big news here is that the west is beginning to understand, finally, that china is china. american exceptionalism might have worked a bit in the past, but it's not working with china. china is not going to be more like us. china is a separate country. but we have to deal with china, negotiate with china with that understanding, and xi jinping is more evidence that china is its own country and it's not going to necessarily, and probably in most cases, will not up the calls of most countries. >> and president trump raised a few eyebrows when he made the remarks about china's new consolidation of power. he's now president for life. president for life. no

autos going in to china while u.s. only levies a two point five percent tariff although we do have a twenty five percent tariff coming in for chinese pickup trucks but how do you see this all working out i mean all of those are a big deal you talk about jobs both in china and here it's really important what he thinks going to happen. well let's back up for a moment now at this point china makes more cars than the e.u. the usa and japan combined it's roughly twenty six percent of the global car market and at this point we're also seeing that the quality gap between american made or imported cars and domestic chinese cars is being eroded and the chinese leadership is essentially at the point where they're saying that look ok that if if you know some high tech billionaire in china he wants to import a cadillac that's made in michigan he can afford to pay more for it this is a luxury thing but mastic lee that they should be utilizing the domestic car manufacturers there's a lot of different car manufacturers in china you'v