systems? china, hong kong, it's "inside story." hello, i'm ray soares, since 1997, when the british left their crown colony and returned it to china, hong kong has been nervously negotiating a relationship next door. they took the lead only in military and diplomatic fathers, hong kong was going to remain what it has always been, a home to freewheeling capitalism, with law and currency, and now the young people filling the streets are testing just how much dissent hong kong's government and the government in beijing are willing to tolerate. protests in hong kong are not unusual. but this is different. and may be dangerous. police fired volleys of teargas in the thousands on sunday, and what authorities said are necessary but restrained response. demonstrators used umbrellas and goggles to protect themselves and vowed to keep up the pressure. >> well, it's very encouraging that so many people tal took toe streets today to demand democracy, and many people chanted the slogan, "went true democracy, and it's exactly the movement. and we're very happy to see what happened today. >> these demo

, la, ♪sha, la, la, la, la, la ♪sha, la, la, la, la, >>>china's younger generation is driving a growth in consumption. >> this is where the real power is -- china. ♪ >>> if you live in manhattan like i do and you think you live in the center of the world, this place, shanghai, will confront you with a very different reality. turn down a side street. it's an ancient culture. the centuries old smells, flavors. a brock away, this, an ultra modern, clanging cash register, levels of wealth, luxury, the sheer volume of things and services unimaginable by the greediest, most bourgeois of capitalis capitalists. it is flanked by the river. and there is the newer section. the thing i know for sure about china is that we'll never know china. it's too big, too diverse, too deep. there's simply not enough time. that's for me the joy of china, facing a learning curve that impossibly steep. even if i dedicated my life to learning about china i'd die mostly ignorant. that's exciting. that's too much, and it's changing so fast. ♪ china has a population of $1.3 billion people. and the number

share his vision of helping grow e-commerce to the benefit of china. with no cease-fire inside, our battle became more contentious. we had one card up our sleeves that ebay had not anticipated. to pay $1agreed billion in cash to alibaba.com. the move is designed to catch up with the ebay. yahoo! is going to become alibaba's big is investor in alibaba will take over yahoo!'s china operations. >> it was one of the biggest deals in internet history and set off a media frenzy. for the first time, a chinese in a company had taken over the local company. with a search engine in our portfolio, we boldly plant that -- >> ebay has been trying to build and be as successful as a lot of companies in china. this is really representing a big challenge for ebay in china. >> the mood was euphoric. mandarin]ng >> to make the partnership work it was critical to smooth and integrate yahoo! china under ali baba's management. we chartered a transfer to bring yahoo! china to visit their new national headquarters. it didn't take long before we realize that the two teams have very different cultures. seeme

impact on the degree to which u.s. companies will have a path in china? china sees the success of this, are they more willing to let our companies play too? >> -- willing to let u.s. companies play as a result of this. i think -- you know, i think u.s. companies look at china. they look at india. they look at big markets. because here we have 318 million people and it is an easy economy, across every state. it is very difficult to do in the rest of the world country by country. but china and india are huge landscapes and it's been difficult for companies other than making investment in places to succeed there. so what are the big next landscapes you can go after? i think u.s. companies will continue to do what they are doing. i don't know that this is the wakeup call that everybody thinks. i think that u.s. companies did try very hard to find ways into china it's just very difficult to do. i don't know how it changes the landscape until alibaba starts making acquisitions. then the world changes a lot. and so it is going to be very interesting to see what they do with their currenc

dawson dawson. markets very much driven by weak numbers from china. some declines are significant. australia, and these are very d to china, and the first is china, and the other is sinopec selling a stake. sinopec, therefore, is the biggest declining stock, and there it is. >> right, and in a little over roadshowthe alibaba kicks off after meetings in the u.s., and they already have interest, but they may stop taking offers for the early sell. lulu, tell me something. what is the atmosphere like? calm?just reasonably >> definitely. one of the key questions that investors will be asking today will beer alibaba issuing more shares or bumping up the price, and they managed to attract enough orders, so they might be closing their ordertaking process early for the ipo. one of the key questions for because the ipo is so high profile, and there is so much demand, some might be insulating their demand, so that is something they should take care of -- and might be insulating their demand, so that is something they should take care of. -- might be inflati ng their demand, so that is someth

also on the floor of the nyse. >> alibaba continues to grow grows china, but also [indiscernible] this ipo in new york makes a good entry to the growth or expansion. forecasting to book a $4.6 billion gain from the listing. they will be booking that for the six-month ending september 30. . windfall gain shares open and 56 minutes from now. .> thank you so much for that singapore exchanges forecasting an end to a two-year hiatus for chinese listings. the optimism follows an agreement which makes it easier for chinese companies to sell shares in singapore. has, good to see you. what extent will singapore's ipo market change? >> i am tempted to say watch this space. there will be a significant change. difficultt, it was for mainland companies to list in singapore. they had to incorporate an overseas holding company. with the new agreement, they don't. the last one listed in singapore was way back in 2012. companies raised $2.2 billion from singapore ipos this year, down more than 50% from last year. average trading volume down more than 30% from a year ago. it has not been pretty fo

♪ sha la la la la la ♪ sha la la la la ♪ sha la la la la la la >>> china is's younger generation is driving a growth in consumption. >> this is where the real power is. china. >> if you live in manhattan like i do and you think you live in the center of the world, this place, shanghai, will confront you with a very different reality. turn down a side street, it's an ancient culture. centuries old mix of culinary traditions, smells, flavors, a block away, this. an ultramodern ever clanging cash register, levels of wealth, luxury, sheer volume of things and services unimagined by the greediest, most of capitalist imperialists. the city is split by the river, a tributary of the yank sea in the oldest section which features the newer built up section. the one thing i know for sure about china is i will never know china. it's too big, too old, too diverse, too deep. there's simply not enough time. that's for me, the joy of china. facing a learning curve that impossibly steep. the certain knowledge that even if i dedicated my life to learning about china, i'd die mostly ignorant. that's e

signature segment, china struggles to provide for its rapidly growing middle class. >> they're feeling very vulnerable at this point. they know that they can't feed themselves anymore. >> sreenivasan: next on pbs newshour weekend. >> pbs newshour weekend is made possible by: corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we are your retirement company. additional support is provided by: and by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. from the tisch wnet studios in lincoln center in new york, hari sreenivasan. >> sreenivasan: good evening. thanks for joining us. secretary of state john kerry traveled today to cairo to try to enlist egypt's support in what the white house describes as america's war against the islamic state, also known as isil. egypt is the most populous country in the arab world. >> it will be our goal in every meeting that we have on the international basis, together, working to degrade and ultimately to defeat isil.

." >> i am watching the markets. i am exact -- i am exaggerating, a good start. came out ofpmi china, things started to turn around for the better. another good session over in taiwan. something that has become quite common. inflows intoet taiwan. the most in asia, recently edging out india. manufacturing pmi, not the best. towardo be leaning expectations. china may step in to support the economy. china, gains led by the automakers. china rose out the policy on electric cars. defense related shares. report out off "the shanghai chinaties news," that will announce this blueprint, restructuring plan of military research unit. elsewhere, it looks a good so far. i will be back. >> writer to our top story. >> right to our top story. bloomberg news, asia government editor david tweed on the streets. promising more protests. any idea when we would be getting them? >> they have not actually said it when it will do the protests but we know we will be having the protests at least 10,000 people. that is a targeted number from occupied central. on to the streets in central hong kong and the idea

well. now, in china, the preliminary reading of the sse manufacturing actually rose in september. which helped lift the shanghai composite from a two-week low. investor sentiment was boosted by hopes of a recovery in the world's second biggest economy. so a bit of a focus on those markets as well today. ai? >> ramin, how is all of this playing into currency levels? >> currencies, of course, a huge focus, and some of the major pairs have seen trading activity. let's look at the major pairs here. 108.64 to 67 dollar/yen. it's fallen back a touch, after trading above 109 earlier in the week. investors' concerns growing regarding syria. shipping funds into safer assets such as u.s. treasury bonds and the yen. the next guidance on the economic front, which may give some direction for the dollar, will be new home sales for august later today, as well as speeches by federal reserve officials from cleveland and chicago. which may give further clues as to what the fed is thinking. we need to follow commodity heavy indexes. the australian dollar against the u.s. dollar, looking at the grap

china's ipos. it has a full 25 percent of the global ipo activity and a lot of people are saying once the investor at home gets familiar with alibaba, there could be a flood gate opened with many more deals. >> that is very likely true, especially if the deals are performing well. and this year there have been about 11 chinese ipos that have been done and all have traded above their ipo price. u.s. investors have gotten very comfortable with the chinese ipos. that wasn't necessarily the case if you go back to 2010 and some of these years where there were in ipos and they did not perform well. so we have a love relationship right now with china. i'm sure it will turn into this love/hate relationship. but yes, i think it does pave the way. alibaba is such a big name. i think investors are going to get very comfortable with china as a result. >> bob is getting comfortable with jack ma. >> well we're just sitting here scott. let's just make sure we get the new indications. 89-91, correct? >> right. >> and how close are we to this whole process? >> we've still got time. and if we go more t

a difference. .. after that doris kearns goodwin and >> i was an exchange student studying in china in 1989, so i'm very, very excited to be able to introduce our next speaker. i think most of us here may not recognize her, but we certainly recognize her voice. t i'm here to introduce louisa lim to talk about her book, "the people's republic of amnesia." she is the voice, as i said, from china for national public radio or has been, and appreciate that she work -- prior to that she worked for bbc. that she worked for bbc. over a decade of reporting she has earned many prestigious prizes and broadcasting awards for her work. during the previous academic year 2013 to 2014 louisa was a mic wallace fellow at the university of michigan and i just learned for the next academic year she will be teaching at the university of michigan in journalism school. for me reading her book brought back to me a flood of memories from my year in china and especially the events that surrounded tiananmen. having been in china around that time i found a reason quote in "the wall street journal" about her bo

closer ties and stronger to send. wants to counter china's growing influence. and the purchasing managers index coming out, the chinese economy, 51.1. this, of course, is showing expansion, and let's go over to david. >> more optimists and pessimists. and a reminder, we also have the hsbc final pmi coming out in about 45 minutes. it is not a lot if you put everything together. this is a little bit above water. this is up about half of 1%, and we will see how this impacts trade. more than to move others, i guess, when it comes to the pmi numbers out of china. with what else is moving across the markets. >> yes, david saying 51.1, and the estimates from the economist was 51.2, and this was down from the previous figure in july, which was the highest in more than two years, and we will get reaction, and with us is the chief greater economist, and this is pretty much in line, isn't it? >> yes, but we need to also pay for the pmi. a couple of weeks ago, it was quite -- it was significantly lower. sector, and private we also have to pay attention to the other numbers. >> they were shoc

china, india's power house neighbor, but with his promises of change, and the needs that come with it, the question is can the u.s. stand to share with china all the new india has to offer? big crowds of supporters throng the park in front of the white house. and protestors complained of the new leadership of the hindu nationalist party. the leader of 16th of the world's people has a lot of eyes following him, at home, from east and west. india the u.s. and the world are our focus this time on the program. joining us in the washington, director of the india project at thing booings institution, a senior fellow for asia, he is also a former u.s. ambassador and walter anderson, director of the southwest program. why all the attention? is. >> i think one is him -- as a politician, the kind of personalty he is. not many indian prime ministers no matter how important the relationship with the u.s. is or with india is to the u.s. could have pulled off the estrength at madison square garden, i think what he has done is done a leg of political meetings, a set of business meetings why is th

♪ >> growth targets under stretch, china's weakest factory output in years. e dollar is falling on new stocks are poised to decline, and sinopec has made a move. coming to "first up," you live from the bloomberg asia headquarters and streaming online at bloomberg.com. china's growth targets is again under threat, new data over the weekend showing a continued slowdown in growth. let's head over right now to bloomberg's stephen engle in beijing with the latest. steve? >> yes, the economic indicators, angie, you are right, pointing missing the growth targets, and it is the same as the previous year, 7.5% for the target. his options have narrowed. stimulate or miss that target. now, we had the weakest economic outlook. sales, they moderated last month, as well, and we saw the second straight decline in growth of imports and a 40% drop in the broadest measure of new is aggregate financing. over at morgan stanley, one person saying this is a pretty important wake-up call, that they need to do more, but will they stimulate more ortiz policies? policies? they do not want to inflate asset b

forceful action by china's security forces. rumors that the chinese army might intervene were untrue. and in the past few hour, riot police will hold back on the hope that it will defuse the situation. angry with the changes to the system which the protesters say are undemocratic. >> we've had success and just want democracy. and nothing more. >> reporter: beijing has warned the international community that this remains an internal chinese issue. taiwan house has given to to support of the protesters. they were originally a pro. >> referee: pro-democracy group. but the real danger is this situation could spiral out of control. >> if it hasn't already. david piper thank you very much. >>> and ronald reagan who says what happens in hong kong won't stay very long in hong kong. why not, sir? >> this is a whole thing on economics, ever, neil. they've got a 15% flat tax on income. they've got a 16.5% on corporate trar riffs. they are an open world global city and they don't want to see the government change bit chinese government. so they have a model that really works and they don't want to lo

threat. china's weakest factory output in years. the aussie dollar falling. a journey of 1000 miles and then some. alibaba taking the roadshow to hong kong. with china's for your growth target once again under threat, we got new data over the weekend showing a continued slowdown. of it over to stephen engle in beijing with the latest. a very good morning to you. what are the numbers telling us? >> you said it. the economic indicators from the weekend and generally from the that 7.5%ths, missing growth target for the full year. does that really matter? i will get into it. his options have definitely narrowed, stimulate, or you are probably going to miss that target. we have the weakest growth since the global financial crisis and the data released over the weekend. fixed assets investment, retail sales also moderated. we saw the second straight decline in imports, a 40% drop in the aggregate financing. the numbers are not necessarily looking good for the program of cap. helen xiao at morgan stanley -- this isimportant an apartment wake-up call. slowdown, engineered or is this happeni

kong has been a territory of china and operating under a policy of one country, two systems. residents of mainland china, groups say china is slowly taking those freedoms away. police use more than 85 rounds of tear gas, pepper spray and batons on protesters sunday. the number of people on the street continues to grow despite the police crack down. hong kong stocks have actua tum. vulnerable to riot police once more. soon after dark on monday as the crowd swelled it became clear all the worrying now belonged to the authorities. at times a sea of illuminated cell phones. and then booing of the cy chong. >> one of the protesters say have yo you you heard the sing? >> the night before it was facing tear gas. on monday night, no gas, and hardly any police presence. >> given the fact they launched tear gas and you know pepper spray the past couple of days i think people are quite prepared for both. i mean they knew what to expect. and they still have the courage to come out anden tel and tell e government what they want. hong kong people actually do want democracy. >> i think hon

latest book is entitled "a china man's chance: one families downand the chinese american dream." join me in welcoming eric lu. [applause] >> the question begs to be answered, why the title? >> first of all, thank you for having this conversation and thanks to the world affairs council and asian society for gathering us together today. i really excited to talk about this book, and the title in particular, the phrase "a chinaman's chance" many people noes phrase that has fallen into both disrepute and out of use. it is a slur in essence. and a phrase that has its origins from the earliest days when chinese immigrants arrived in the united states, and laborers from china were given some of the most thankless, dangerous, life-threatening jobs in laying the railroads, mining, such that they often had a slim to no chance of surviving. which got short-handed in the language of the time as china man's chance of surviving, and ironically, that phrase long survived its original usage. by the time, 100 pleasure years later, when my father immigranted to the united states in the late 1950s

peace agreement difficult. >>> china's president xi jinping makes an official visit to india, and will meet with the new prime minister narendra modi as part of a 3-country tour of asia. many indians see china as a partner for the future. >> reporter: these chinese language students in new delhi are investing in their future. with china's growing influence in the world, they believe learning manneh rein now will way off later. >> in future, china will take over the world. for that it's important to learn chinese, to earn a lot of money. >> reporter: the school has seen a steady stream of students since it opened. directors say one of the objectives is to bring indian and chinese people closer. >> not only training the indian people learning the chinese language, and the culture, and understand the chinese culture. it's growing in recent years, thanks to trade. china's influence on life in india was limited to restaurants like these. in the past few years chinese goods flooded the market, smartphones being on the increase. new they talk about aid being used. >> reporter: this mobile app

the latest. china and india's relationship hasn't always been smooth with border tensions that stretch back decades, when it comes to trade they see huge potential in the combined population of 2.5 billion. during talks on thursday, china agreed to invest $20 billion in india over the next five years. and nhk world has more from new delhi. >> reporter: prime minister modi made the rare decision to greet his chinese guest on wednesday not in the indian capital but his home state. india and china clashed in 1962 over a border dispute that remains unresolved. but when it comes to trade, they are deeply connected. everything in this gift shop is imported from china, including these photo frames. these jewelry boxes, and even this statue, the most popular indian god. made in china toys are big sellers in india. consumers appreciate their quality and value for money. high tech products are also taking off. the smart phone went on sale in india this summer. >> translator: chinese products are well priced and well designed. >> translator: it's got good functions for games. many of my f

resign, saying they are not going anywhere until china grasps real democracy. jihadist militants from the islamic state group closed in on a key town on the border of syria and turkey, despite continuing airstrikes on the international coalition. and a major flood hits some 60 cities across the south of france, including the historic town of montpellier. ♪ also coming up this hour, turning 50. we will take a closer look at the argentinian comic and her creator. also, sports coming up. but first for you, tens of thousands of protesters are in hong kong. they have now upped their demand, saying they want beijing to answer their calls for democratic reform before a deadline tomorrow, china's national day. leaders of the occupy central movements are they want the current executive leadership of hong kong to step down. anger over beijing moving to vet new candidates is what kicked off the protest in the first place. paul james is our correspondent. tomorrow marks the 61st anniversary of the founding of communist party rule in china basically china's national holiday. protesters have

china's e-commerce pricing at $68 a share. gives alibaba a market value about $168 billion surpassing disney, boeing and amazon. it will trade under ticker baba. earlier alibaba's executive chairman jack ma held court outside the big board amid hundreds of members of the press corps on hand for today's big event. later we will bring you our cnbc interview with ma here at post 9:00. we are literally feet away from the post at which it will trade, post 8 over here. where twit other went public almost a year ago. the crowd of press, guys, i heard at least 100 media from china alone. >> well, this is historic. i say it's a rejuvenation in the sense this is the deal -- it's been a long time since people talked about a particular stock which was facebook. this is bigger than twitter, obviously. what is incredible about this deal, we are looking at just the american side. i am shocked at the amount of buying overseas. there is going to be 30 million shares to buy. it's going to be obviously way, it was way oversubscribed. the demand of mutual funds worldwide for this thing is atypical of wha

more counterfeiting going on in china now than we've ever seen anywhere. >> name an american brand. any brand. any kind of product. just name it, and we'll tell you something about it. it's probably being counterfeited in china as we speak. >> this is the most profitable criminal venture, as far as i know, on earth. >> counterfeiting. >> counterfeiting and your partners don't kill you. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we look at the multibillion dollar business of international crime. first, we report on the theft of an eye-popping fortune stolen from the iraq treasury. then we take a look at shoplifting gangs from south america. and finally we go undercover in china to expose rampant product counterfeiting. we begin in iraq with the theft that's been called one of the largest of its time, the mother of all heists. and it happened right under the noses of u.s. advisers. as iraqi investigators told us in october of 2006, more than half a billion dollars had disappeared from the defense ministry-- money that was supposed to equip the iraqi military. inve

was resource stocks. they came under pressure due to falling iron ore prices. and in china, the shanghai composite climbing .8%, recovering that 2,300 level for first time since may 2013. shares in the sector went higher today. >>> a federal district court in the united states upheld a $6 billion judgment against japan's largest drugmaker. the court says takeda pharmaceutical hit cancer risks associated with its diabetes drug actos. in april, a jury in the state of louisiana ordered the company to pay the money in punitive damages. the suit was brought by a man who claimed actos caused him to suffer bladder cancer. takeda officials say they, quote, respectfully disagree with the verdict. they say they're planning an appeal. $6 billion is four times the drugmaker's operating profit for all of last fiscal year. the company has been fighting other cases over the drug in u.s. courts. judges or juries in five other lawsuits have ruled in favor of takeda. >>> executives at toyota motor are addressing growing concerns about vehicle safety. they say they'll install automatic braking sys

of hong kong in what could be china's biggest political challenge. you are looking at live pictures behind me, i'll look at how we got here and what is at stake. also america's trillion dollars student debt burden is weighing on a whole other sector, the housing market. plus the highway project that is going nowhere fast. i'll tell you what brought it to a grinding halt. i'm ali velshi. this is "real money." >>> this is "real money," you are the most important part of the show, so tell me what is on your mind by tweeting me or hit me up on facebook. it is being called an umbrella revolution in hong kong. tens of thousands of protesters occupying the streets and they are not leaving. they demand china back off moves to nominate candidates for the elections in 2015. the tactics to get them to disperse are not working. the sun is up in hong kong, the police have pulled back at least for a while. meanwhile the number of protesters camped out as swelled to as high as 80,000 for the weekend. it's a very rare seen of discord in one of the world's biggest financial hubs. protestest similar

built china's first internet company. i settled into my seat i wondered how would jack address this on this important night? then, just like any other billionaire in the same situation, jack took the stage. ♪ [intro to "the lion king" plays] >> can you feel the love tonight? ♪ >> well, it may not have been typical for a company chairman, but it was not surprising coming from jack. people outside the company assumed he was crazy. but those of us inside the company knew better. this is the story, in my own words, and in the most honest way possible, of what i saw and what i learned from a teacher, teacher, his dream, and from his country. ♪ >> it is hard for me to imagine the china that jack was born into. while the est lake in his hometown provided a quiet escape. china's cultural revolution was just beginning. for the next 10 years, the country was thrown into political chaos. capitalists and intellectuals were punished and sent to the countryside. families and friends were divided along class lines. china was closed to the world, and its inner turmoil was invisible to most peopl

emerged is extremely unlikely. china has not been a party to any of these bilateral cold war agreements. that is the dark shadow on this paper. we talk about the u.s. russia relationship. china is out there. china is a threat to both parties. that is going to have a nuclear deterrent. there is no question about it in the nuclear context. >> this is political talk already. the upturn the -- the opportunistic point is that neither russia nor america's feeling from danger -- feeling of danger from china is objective in nature. the cases are very subjective and not by the objective threat of china but by how we perceive china. that makes the situation looks better. >> in terms of funny stories, when we started writing this paper we were hammered for being too pessimistic. increasingly we are hammered for being too optimistic about the nature of the relationship. even if trust is nonexistent. the myra memories conversations. what i still don't quite understand is if it was possible to achieve another arms-control agreement between russia and the united states, if we were able to o

patriots and imagination first unlocking the power of possibility. his latest book is entitled a china man's chance one man's journey into the chinese american dream. please join me in welcoming eric leu. [applause] .. and to arrive in the united states and they were given the most thankless, dangerous, life threatening jobs, mining mountains and so forth, such that they often hannah slim to no chance of surviving which got shorthanded in the language of the time as "a chinaman's chance" of surviving and ironically that phrase survived its original usage and 100 years later when my father immigrated to the united states in the late 1950s my dad who has a real sponge for language and idiom as well as someone with an ironic playful sense of humor somewhere along the way it heard the phrase, either against him or unthinkingly in the company and presence and it was my father's nature to take something like that where the intentions was to wound and to grab the dart in mid-air and redirect. when he began to do in this ironically playful way is appropriate that phrase "a chinaman's chance" s

and overseas in china. if apple were intentionally holding back supply from china in order to supply the use. but if the regulators are actually keeping them out for a while they could be doing apple a favor. plus don't forget last time apple had a really huge phone launch here, the shoppers from china managed to find their way here to buy the phones and bring them over. so it's not as if we are not in a global economy. in the 21st century are with airplanes and people can get their hands on goods they know they want. >> it's gives you a floor and upside. now they have an opportunity in outperformance once they get in there. i agree with john. take the 2% down. a good opportunity. >> we also have a lower cost model in this launch. do you think this is going to be less of a block buster than the five was? the five and the five c which was one of the big upsides in china before. >> i think this is going to be bigger in general because larger phones are more popular. plus the cost reduction on the 5 s with touch id. which you are likely to see decent demand still holding up. so unless w

in china has some potential in europe to see whether it will carry over into the u.s. and whether investors will embrace it with very different transparent ideas about transparency. >> we cannot forget that this is their second ipo. well.not go so what are the similarities and the differences? >> the backdrop is very similar. you have stocks skyrocketing. they were reaching every day. he knows how to time a rally. and as you remember it was many time's oversubscribed. pop in itsgnificant first day. we might see a different situation with the parent company. it is harder to get multiple time subscriptions as well is a isger first-day pop but it interesting timing. there are some interesting similarities. >> that did not continue back then. we will be watching this time around. thank you so much. us and sticking with more with you after this quick rate. we will be talking about mover which has been banned from operating in germany. will other countries follow suit? that and more when we return. ♪ >> welcome back. i am emily chang. attack still organization has won a ruling that co

improve strained relations with china and south korea. >> translator: they're japan's neighbors, so there are various issues that come up. in order to resolve these issues we should promote dialogue free of any preconditions. >> abe says he hopes to hold summit talks with china when he visits beijing in november for the apec meeting. he says both countries need to make constant efforts to improve bilateral relations. japan's prime minister also expressed his desire to have summit talks with south korea and make the most of various international meetings. our senior political commentator masao nakajima joined us earlier with his analysis of abe's news conference. what are some of the main points abe spoke about? >> well, prime minister abe emphasized that japan's determination to proactively contribute to the world peace. he said japan will take the lead in solving problems the world is facing such as the ebola outbreak and climate change. he said this will be done through making use of the country's technology and experience. he also mentioned japan's support for the fight against i

baa surging. some here say it's time to tell some here say it's time to tell china to roll out the red carpe you know, if you play football for a long time like i did, you're gonna learn to deal with alot of pain. but it is nothing like the pain that shingles causes. man when i got shingles it was something awful. it was like being blindsided by some linebacker. you don't see it coming. boom! it was this painful rash of little blisters. red, ugly stuff. lots of 'em. not a good deal. if you've had chicken pox, uh-huh, we all remember chicken pox. well that shingles virus is already inside of you. it ain't pretty when it comes out. now i'm not telling you this so that you'll feel sorry for me. i'm just here to tell you that one out of three people are gonna end up getting shingles. i was one of 'em. take it from a guy who's had his fair share of pain. you don't want to be tackled by shingles. so please go talk to your doctor or pharmacist. talk to your doctor or pharmacist about your risk. right here. with a control pad that can read your handwriting, a wide-screen multimedia center,

excitement the floor of the new york stock exchange. he had alibaba customers in town visiting from china. they are the ones who rang the bell. he did not ring the bell himself. that is a pretty humble. he knows there is a lot of work to do. we talked about u.s. expansion and a timeline for that. we talked about challenges of working with the chinese government. we talked about what he is going to do with all of this capital, will he buy yahoo!? it is not going to be going in that direction. he and marissa mayer do talk. workinghave a relationship. yahoo! is a major shareholder in alibaba. we are going to see how this day will play out. >> did you detect any anxiety partps, misgivings on his about how the stock is going to trade? everybody who bought in on the ipo and everybody who is going to buy after the first trade wants to know how well it is going to do. it is the new york stock exchange going to screw up the way the nasdaq did? going to manage the buyers and sellers so that it opens cleanly and everybody feels good? did he reveal any of that to you? that jack momense is very relaxe

-- was handed act to china. are bracing for sharp reaction among the markets. they promised that the markets would remain open. was the promise, can they follow through? >> you look at how the markets have traded at at the volatility index here. it wasn't expected to scale up this fast. you can see either of two things happen. the indexikely see and other embassies here in hong is --rop -- other in this other indices here in hong kong drop. to fall to 23,000 over the short term, that is the volatility index. we were just speaking with ross on the streets right now. quite literally he walked both ways. just a few minutes ago we got a few headlines and we just update our viewers here. some road sections are suspended. you have over 200 bus routes diverted, according to the hong kong transport department. >> some schools in the western district have told students that there will be no school today because they cannot get to school. not to to trivialize or inconvenience anything, if people cannot go to where they usually need to go that does become a problem. financials make up half the

baa baa surging. some here say it's time to tell china to roll out the red carpet for us over there, so we can put more americans to work here. d w? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ no. not exactly. to attain success, one must project success. that's why we use fedex one rate. their flat rate shipping. exactly. it makes us look top-notch but we know it's affordable. [ garage door opening ] [ sighs ] honey, haven't i asked you to please use the -- we don't have a reception entrance. [ male announcer ] ship a pak via fedex express saver® for as low as $7.50. what would help is simply being able to recognize a fair price. that's never really been possible. but along comes a radically new way to buy a car, called truecar. now it is. true

oracle bought. ali baba group conquered china and is now sitting on the largest ipo in u.s. history. we look at its global ambitions as we wait for the company to start trading tomorrow morning. ♪ >> i am emily chang, and this is "bloomberg west." alibaba is pricing its ipo at $68. that means there raising $28.8 billion, making it the largest ipo in u.s. history, and it could hit a global record if additional shares are sold. it as a market value of nearly $168 billion, bigger than amazon. joining us now, reporter leslie, who has been following the story every day. in san francisco, cory johnson. and stanford's charles lee joins us via skype. what you think of the price? >> it is close to what we expected. it is reasonably valued compared to some of the things that are trading there, like facebook. i think you would have a hard time seeing a hard time seeing his stay at that point after the market opens. >> this is what we expected, it could've been more, but it is a lucky number. >> eight is the lucky part of the number. now we are looking at $9.18. >> a lot of eights in there. >

, there's this holiday commemorating china's communist founding. a bigger face-off could take place. how are officials preparing? i know they've canceled their very popular fireworks show which happens every year. >> reporter: that's right. october the 1st is expected to bring a lot of people out. hong kong is no stranger to protests. there are regular protests here in hong kong, and they can reach big sizes, at half a million people in some cases, take to the streets of hong kong to protest. but what often happens is you get a whole diverse range of people coming forward to protest their own individual or small group grievances. this is unique in that there is a really specific focus here, which is on the democratic process. what will happen over the next few days, well, we are expecting to see a lot more people join the protest movement. this is the key position for pro fes testers. but this is one of three. another is in a shopping area. so we are expecting a lot more people tomorrow and maybe the next day. the key to this and to the longevity of this protest is how the protester

diplomats have expressed hope for better relations with japan. china's ambassador to japan cheng yonghua spoke on thursday at a ceremony to mark the 35th anniversary of tokyo and beijing becoming friendship cities. >> translator: i hope beijing and tokyo will promote science and technical cooperation, human and cultural cooperation, and expand bilateral exchanges. i would like people on both sides to enhance happiness through those activities. >> the event was hosted by the tokyo-based japan/china friendship association and other groups. chung said relations are at a low point due to serious mutual distrust over issues of history and territory. he pledged to work toward putting them back on track. in addition, chinese foreign ministry spokesperson qin gang held a news conference on thursday. he touched on the reshuffled leadership of japan's main ruling liberal democratic party. >> translator: if the appointments have any influence on japan's china policies, i hope it will be a positive one. we hope the japanese leaders in any field will help sustain and develop the two countries' relati

a lot of the small guys because big guys are already in china. small guys need help like us and that is what we are excited about. >> alibaba is successful because it is so diverse and sprawling. what kinds of business ideas have you said no to? >> i am saying no to a lot of ideas because as the ceo i have to say no to opportunities because of i say yes i will get 5000 opportunities every day. everything is based on the mission. helping ewing business easier. it is that we will consider. if someone says we will make a lot of money, i am not interested. >> houston down a couple years ago and you are now executive chairman. i am the chairman. i focus my time on developing people and government relationships with all the nations that are helping small business and focus my time on expansion. i do not do this kind of operation work. >> what is your next surprise? >> it is coming. >> how will you celebrate? we had a big dinner last night and everybody cried and we said 15 years we never knew, who are the people we should thank? it is not in us. that is why we put the young people there. w

later. let's check with caroline hyde. >> the markets are going to be looking at china. they are going to be looking at the united states as well. the chinese effect helping a little bit of green in the markets this one. ftse up, spain getting a boost as well. the united states traded much higher. they have a bit of an influx, an appetite for risk on the back of the chinese news. equivalent toan, $81 billion, is being pumped into the five biggest lenders. they are getting each 100 billion yuan. instead of cutting the reserve ratio requirements, instead of cutting rates, this is an equivalent stimulus thomas so says goldman sachs. worry about the chinese data? spending over retail service have not been good. investment has not been good. the central bank is reacting. i want to show you the reaction it had on commodities. copper, look at how much did move. up 1.2% and continues to trade higher, up .5%. we can also look at the oil market and the effect it had overnight. 2.5% jump on the oil market. is really getting impetus as we see china fueling up in terms of stimulus. we know th

thing. the number of tourists in japan the factor of countries like china or south korea having economic growth. japan and the number of visitors in july was almost 1.3 million --ple, a record stuff record. -- ofount of my that money that they spend is more than overseas. i guess the only bright spot for is that he can attract more tourists to japan. that is a good thing, i guess. >> what about what we are saying about a possibility of a further sales tax hike coming up? is that contingent on the economy approving? is there any noise out of government offices? >> the statement that the government made last week was that, at the moment, they will raise the taxes and it is dependent on the economic situation and data that we are .eeing at the same time, the finance minister said that they need to raise the sales tax again to meet their fiscal enables. they came out and said they are considering stimulus packages and that there would be no sales tax raise to drive the economy into recession. what the government is indicating is that the sales tax rise will happen and, if it does, t

. perhaps china. i'm guessing, jim. >> it's all china. it's some statements out of china saying, listen, we don't need to stimulate as much. we're willing to accept decline in the growth. >> growth. 7% now, some saying in gdp. keeps coming down. all right. our road map this morning and it starts not with china but right back here in the u.s. with the iphone. the official initial sales numbers just out. guess what? new record, tim cook says they could have done better. >>> alibaba setting records. biggest ipo in the world not just u.s., we knew that would happen friday. what did push it over the line. it wouldn't be monday without a couple of deals. we've got two comes from overseas. we'll break them down for you. and a lot of talk, as well, speaking of m&a about hewlett-packard and emc. and eve dell. a lot more on hewlett-packard emc, what emc is thinking about right now. >> very good. it's so opaque. looks like it's -- keeps being floated and nothing happens. but i have learned from you that, when it's being floated, eventually somebody wraps it. >> interesting parts of the discussions

piece of data out of china this morning. trade activity continues to be robust. david is here with another china surprised to the upside. >> we will get to that in just a bit. we are seeing that continued sluggish picture. imports exports better, not so good. surplus.ade another record, in fact, for the seventh straight month. for august. that is about $100 billion over the past two months. if you go back to january, we are looking at about $200 billion in total. just to give you an idea of how large that number is, i inc. the the one in asia -- i think next one in asia is korea. china is 10 times larger. imports down 2.5%. ist you can't take away here that things are chugging along slow, but it is the old engine of growth that is helping keep the economy moving along. not exactly a bad thing. if you look at exports, that gives you a snapshot of how other economies are doing. especially trade with developed economies like the u.s. >> didn't they see a fall in u.s. exports compared to the previous level? >> it depends how you look at it. two-way trade. obviously, the u.s. still has