of the reef islands in the south china sea. president obama says the u.s. is hitting the islamic state harder than ever. it's the start of a campaign to reassure a nervous american public. >> 30 seconds. making history once again. the apollo 11 capsule lands at the center of a cutting-edge project to give us a front row seat to the moon. katty: welcome to our viewers on public television in america and around the globe. china's program of building islands in the south china sea has drawn international criticism and concern. the new landmasses have been almost inaccessible to the outside world, but the bbc has recently gotten the exclusive access to the artificial isles, which are large enough for factories. rupert wingfield-hayes flew in a small civilian aircraft into china's self-declared security zone. he sent us this report. rupert: it's just before dawn on this philippine island. even at this hour, it's hot, but there is no sign here of the trouble brewing a few hundred miles out to sea. i am about to take off on a trip the chinese government has tried to stop. as we roll dow

pieces. what is china's ultimate aim? whatat is the rush? its actions have galvanized to the region. what is the ultimate aim, what is the rush, and is trying to tear with the international community thinks about what it is doing? home.na's goal begins at it is rejuvenating the chinese nation. this is the chinese presidents investigated chinese -- enunciated chinese dream. he wants to restore china to greatness. not only making china the biggest economy in the world and having a robust military , but asserting chinese claim in maritime capabilities. it means dividing the u.s. and its allies. reducing american influence inch asia and around ina's periphery is a critically important part of that strategy. vago: that is part of the hundred year marathon that he wrote about. >> if you look at china's own words and their own writings like the papers that cannot this year in may, their goal seems to have changed if you look 10 years ago or even 20 years ago. it was much more modest. but this year the really talked about protecting china's around the world. they havtalked abo the need for

so hard on. i want to talk about the book and the broader economic context of china and the word about hank paulson. i know something about the stress and policymakers behind-the-scenes. i don't think anyone put this country on a footing for the future. writing here about his perspective is a policy maker with his long experience in china. the hundred visits going back years and years. and so the perspective from the private and public sector come together as we assess our greatest economic rivals in the banker, and until very recently banker of uss. secretary paulson, thank you for being here. >> thank you. it is my great pleasure to be here. i thank you all for being here and for waiting. i waiting. i am looking forward to the conversation. >> dealing with china is a fascinating insight. the president's news conference trying to explain the transpacific partnership , the fast-track that he has just gone with divided democratic support and opposition from the incoming democratic minority leader chuck schumer. the democratic party is divided and it will be a big election-year iss

china say the chairman of after being quote out of contact. -- the formern mayor of shanghai. the purchase of hong kong's leading newspaper will cost more than a quarter of a billion dollars. decision will be taken in the newsroom and not the boardroom. don't forget to include the #trending business. singapore taiwan and malaysia have just one line. hiding the japanese equities. have an unexpected breed. take a look at the nikkei extending. the sea of red. the fed meeting this week. we're also getting the oil story. over supply glut eggs to continue. that's set to worsen. we off by one 4/10 of a percent. weakness coming through there as well. china and hong kong both open. in his today after being pension as of friday. the chairman is back home after being out on tax and thursday. the company says he was at the -- assisting in an officially read. stephen engle is following this for us. what do we know russian mark >> basically what we know is that you may still be out of public view but we have been more than isolation of his whereabouts. he was reported missing on friday. the mag

oil sets the tone. sinks to 37 point 93. its lowest level since 2008. china, are alll rising in easing some concern ahead of the fed's crucial meeting. and some are expected to return to trading. it has been helping with official inquiry. common to you live from bloomberg's asian headquarters here in hong kong and streaming on your mobile and bloomberg.com. australian equities down one third of 1%, despite better than expected data coming out of china. dollar's weakening, 71 u.s. cents. are seeing equities in a downward trajectory come 8/10 of 1%. u.s. cents. we are counting down to the openings in japan and korea. we look at a very important survey. futures check this out below this 19,000 spot. weakening. -- after being suspended on the disappearance of its chairman. the company's president has now hasirmed that its president been helping with an official inquiry via we have heidi here with the latest. more details emerged over the weekend. heidi: a lot of speculation over the last four or five days. during the weekend we heard from is president who said gore assisting in proc

angie: on the rebound. oil will rise again. prices are hurting producers. india patterns china and at the imf protecting their growing economic role. much ado about nothing. plans toank of japan buy something that doesn't this. welcome to first up. take it, markets in asia monday morning. us trillion dollars down let's head over to new zealand. also down. we have a slightly stronger qe. we're counting down the openings in japan and korea. last giveaway all those names after the deal day extended the term of maturities to 12 years. back down.t all away slightly'slanes was -- slightly lower open. we begin this monday morning with china's largest homebuilder with the takeover bid. it was suspended last week and now to three heading towards a showdown the largest investors. what do we have here? drama indeed. the largest shareholder is not welcomed by the company coming in with a hostile takeover. and ishe revamped way the deadline -- january 18 of the deadline. the company says it will not week another extension. that may be a counterattack. they face the hostile takeover on fridayhe

getting ♪ colder ♪ shalala ♪ shalala la la ♪ shalala 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. a centuries-old mix of culinary traditions, smells, flavors. a block away, this. an ultra modern, clanging cash register, levels of wealth, luxury, the sheer volume of things and services unimagined by the greediest, most bourgeois of capitalist imperialists. the city split by the huangpu river, a tributary of the yangtze. in the older section which features the bund and the newer built-up section of pudong. 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

♪ >>> november 2015. china's biggest online shopping site is holding its annual one-day sale. sales hit $1.5 billion in 12 minutes. and over $14 billion by the day's end. china's in the midst of a massive web shopping boom. 2013 saw the country surpass the u.s. in online transactions with a total of some $300 billion. many of the products sold online in china come from 212 east shopping villages spread across nine rural provinces and one metropolitan area. from car parts to shoes, children's clothing and toys, each community has a particular specialty. one such town is dongfeng in a northern province. until several years ago it was a poor farming community where the only other employment came from a plastic processing plant. but today the local economy is based around making and selling furniture. it's a change that's been a huge success. up around 5,000 residents, some 70% are involved in web retail. between them they run over 2,000 online stores. each day the town dispatches all kinds of furniture the length and breadth of china. the town enjoys annual sales of almost $160 million

oil prices plunging further. when china opens up, we're looking at a health care shop. pollution is an issue there. new zealand so far is holding up. everything else is lowered. many markets are opening up including taiwan, malaysia, and singapore. in japan, a continuation of the selloff from the afternoon session on writing. newsmarkets digested the of the boj that it was much a do about nothing. nikkei 225. every single sector is lower. at the moment. industrial, tech, consumer services. we will see how things change as hong kong opens up. let's check in on oil. brent, 36.43. lack of positive news. nothing concrete from the meeting between arabs exporters. a surprise upset in the best in the rigptick count in the united states. december will have to be a blockbuster. toshiba swamping in tokyo this morning. of a record loss. the company has been strongly after admitting misleading investors by filing false statements and it may announce a turnaround plan as early as today. reports: there are including from the nikkei that toshiba could host -- post a record loss. about ¥500 billio

developed nations, have been encouraging the richer developing nations like india and china to come to the party too and throw money into the climate fund, and those like india and china think that's a bad why idea. so there has been a big tussle about how that should pan out. when we talk about ambition, it's the road to get to the 2 degrees c target, how to make sure the temperatures stay below 2 degrees c. before this conference you had these so-called ingcs, nationally determined contributions which meant that all the countries came up with their own voluntary contributions towards reducing emissions. the problem with that was that a lot of them did, all of them did, about 183 countries did it, but it only enabled a reduction 2.7 or 3 degrees. which was above. there needs to be a road map to get to the retired 2 degrees c. what has been mentioned a lot was 91.5 degrees-- 1.5 degrees target. a lot of low-lying states have been pushing to for that. scientists says 2 is insufficient. 1.5 is now in the text. that's one good thing, but it's not clear exactly what the main point of de

investor offers advice for tech companies that want to be big in china. ♪ cory: beijing is defending the controversial law. let's go to angie lau in hong kong. angie: this is the first of its kind in china. this new terrorism law in china which was effectively passed on sunday and becomes effective on january 1 allows this country andthe first time authorizes the people's liberation army to take part in counterterror operations abroad. terrorism is now a national security priority. isna for the first time attacking itself abroad. outside of its borders. for the first time really allowing the pla to engage in counterterrorism operations outside its borders. got the obligation of tech companies operating within the confines of china. to pass over some encryption keys if requested. we got the national people's congress standing committee. led by china's top legislator. have defined what anti-terrorism means in china. these tech companies had better listen. cory: does this mean that these chinese government officials, any e-mails that they send, they will be able to see new my personal e-mai

gases, a lot of eyes have been on china this week. its problems with pollution couldn't have been more obvious as the beijing region was smothered by severe smog. the red alert it had issued is over, but authorities say the situation in and around the capital may get worse again this weekend. earlier miki yamamota spoke to our reporter, naoki makita, in beijing. >> naoki, the chinese government has been showing the world its efforts to tackle air pollution, so why is the situation actually getting worse? >> well, winter has arrived here, and that means an increase in the use of coal for heat. that only adds to the pollution already in the air from car emissions and industrial smoke. nearly 70% of the country's electricity comes from the fossil fuel. president xi jinping's administration has taken measures to reduce coal power generation. it has shut down older, less efficient factories that consume large amounts of coal. they are also cracking down on the common practice of clearing fields for crops by burning them. but these efforts can backfire. the measure drops down coal price

the story of whether commodities in china, whether there will be a comeback may be a hopeful sign. alix: is it stabilizing? joe: or is it going to collapse again? scarlet: plenty of questions that hinge on china. i'm looking at the gap between china's exchange rate onshore and offshore. yellow line tracks it offshore in hong kong. tohas become more profitable buy in hong kong. his weaker. there is another way of looking at it. this is the spread, the difference between the two rates . if you look at what has been going on, here it is. this captured my attention. the difference really swells before narrowing. according to people familiar with the matter china is clamping down banning to foreign banks for three months. tox: whenever you are trying control your economy people always try to have opportunities, like trying to stamp out things in its way. you can see all these charts and more on twitter. wu.first guest is david welcome back. joe: thank you for joining us. one of the big questions we are going to talk about next year is going to be the pace of the fed rate hike. there is

the markets. hong kong and china closed for lunch. this is a picture for singapore, tokyo, and mumbai. nikkei up by over 2%. i am back at the bottom of the hour. emily: i'm emily chang and this is "bloomberg west." uber shifts into high gear with a new funding round. a closer look at mark zuckerberg's decision to donate nearly all of his facebook shares. yahoo! has acquired over 40 companies in less than four years. have investors gotten their money's worth? uber is exhilarating the race to global expansion, looking to raise as much as $2.1 billion in a new round of funding. in four years, we have seen the valuation surge from $60 million in 2011 to $62.5 billion today. uber has been spending aggressively to expand throughout asia, particularly in china. as part of the current funding round, uber has closed investments with tiger global. ofer global also backed some uber's competitors. us, jay ritter, finance professor at the university of florida. with me in the studio is eric newcomer. $62.5 billion? >> that is huge. it was uber before g.m. -- it puts uber before g.m.. it is

that the situation between china and india on the border into himalaya mountains was deteriorating rapidly and there was a very good chance that a war was going to break out between china and india. it also warned the president president that if that happened, india would be the loser and the united states might be called upon by the prime minister to provide assistance and support to stem the chinese invasion. it also warned him if he did provide that would alienate our allies in south asia, and south asia, pakistan and could lead to a crisis in the u.s. pakistani relations. the other documents that morning was a report from the central intelligence agency and it's summarized the results of an overflight of the island of cuba. the cia discovered just the day before the soviet union was in the process of putting intermediate ballistic missiles in cuba which has have the capacity to hit almost every american city east of the mississippi river. it was a global game changer by the soviets. in in rich respect, one of these crisis is well known. we've seen movies about the cuban missile

world. china rattled markets with a surprise valuation of its currency. at my next guest says to get ready for more in 2016. for more on not just the outlook on china but the rest of the world and the new year, president and founder of global strategies joining us from l.a.. we are asking everyone. what would you say are the biggest risks? >> to significant risks. one is the day we have had with , zeroterest rates interest rate is no longer going to be the case in the united states. we have already had one hiked rate. they are talking about further increases. i have long believed that the major impulse has been the being able tof borrow it at very low interest it hass the reason why been so much of a market rally. we're going to face the consequences of the market discussion. it is on the domestic side. it is something like 30% of global growth in recent years. we sought the shanghai index fell by almost 8%. industrial profits are dropping. compared with the same month last year. and the chinese are going to have a great temptation to weaken the currency again. betty: we will likely

china to buy. the value of that coming out higher-than-expected. that led the trade balance to narrow. we are seeing 13 straight months of falling at work. -- imports i should say. the export story continues to be the same. this is adding to the pressure that we saw last week at the manufacturing site or. the weakest level in more than three years. the dollar figure should be coming out any minute. we will have a look at those numbers later on. we do value your opinion. please tweet us. let's see the market. really way down by what's happening globally. mentioned, the deepening of the slowdown in china is not going to help things out. we're already seeing a lot coming through today. the shanghai composite is down by nine. jakarta him him i just now and it's also weaker by around half of the percent. hong kong is one of the worst performers. no stocks out of the 50 on that index actually in the black. losing quite a lot of weakness. this weaker commodity prices really weighing into the australian share market is well. down by 9/10 of a percent. extending its losses as well. that

market assets today's. it is a day of selloff. fosun units are plummeting. reports from china's face that the chairman is back home after being out of context and thursday. stephen engle's is following this story for us. give us an update. what happened here. >> investors don't like it when the head of a company goes missing. they assume the worst and hope for the best. not a lot of information. some good news. a magazine reporting that he actually has gone home after assisting in an investigation -- judiciary investigation that the president of the group in a conference call said was in relationship to a personal matter tied to former shanghai vice mayor. we don't know much else. also, china business news is reporting that the chairman did attendance -- we've not confirmed -- did in turn an internal conference in shanghai this morning. that helped lift bonds. bonds rose by a record i believe, the biggest jump since 2013. these are the 2000 20 bonds which had slumped to the lowest ever on friday when he went missing. the stock was up there. we were down by double digits. investors are ner

head back to china now. the elite decision-makers are wrapping up their annual planning session in beijing. they are trying to encourage investors at home and abroad. zeb: this central economic work conference is wrapping up. giving us some clues about the headline agenda items going into 2016 for the chinese communist party and its management of the economy. willeople's bank of china show that monetary policy is flexible and fiscal policy is forceful. interesting to see them use that kind of language. basic monetary conditions will allow for structural reforms they say. they are trying to support rural homebuyers. many people who live in inner china who need help. also seeking to promote entrepreneurship. a major headline initiative of the president. see a more innovative, technology driven country. one that harnesses the creativity of young people. has technology firms that rival silicon valley. time in a lot of seattle and in silicon valley during his recent trip to the united states. many getting risks is a big piece of this. is something that investors will be watching very cl

and it has outweighed a deterioration of the situation in china without too much of a surprise. the japanese markets are on the weaker yen have a that helps out exporters. expenditures and a 2.2% japan.th big movers in and i want to go back and take a look at the chinese saw as in shanghai and we big ramp up of the lenders yesterday and some speculation that there are more national and china is the biggest decline or their in the early session. -- is how the markets are data isuring deteriorating. >> we are seeing a two speed pace of growth in china and there is the service sector and they are outperforming in the past year, the still having lifted a sluggish sector. low andhan three year it slumps back with a consensus dip below the forecast and manufacturing has not been this low since 2012. andreadings are below 50 the steel sector has a capacity issue at home and abroad. and, of course, the slumping property environment. within the last 15 minutes, the survey of smaller factories came trougher and there is a form. below 50is has been is below 50. shows aices sector little more r

turkey of downing its fighter jet to protect i.s.i.l.'s oil supply. >> china's currency gets a boost as it joins an elite group. after three deck i think of resume, burkina faso is waking up to a new president. roch marc christian kabore won the election with more than 50%. these were the first elections since an uprising in account leading to blaise compaore resigning. >> reporter: the people of burkina faso celebrate what they call the end of political turmoil with the election of former prime minister roch marc christian kabore. they believe the country has entered a new era of fiscal democracy. he won 53% of the votes cast on sunday. he was followed by a blaise compaore. the new president was prime minister and at the last time pick the the past. he worked with blaise compaore. and it means change from them. roch marc christian kabore is a man that worked with blaise compaore, removed from power by a popular uprising in 2014. this is a man that had been with blaise compaore for 25 of the 27 years he was in power. however, there are those that say after the popular uprising of 201

after we saw that china copper -- looks like they might be a building stockpiles. that is helping metals this morning. miners overall managing to weather the storm today. look at it in terms of the year. this is why we are seeing a selloff, because after the euphoria comes the reality. that commodities continue to decline, that global growth continues to be a concern. just look at what things are set by the beige book in china saying about the overall deterioration they are seeing. but the past year. the bloomberg commodity index. we are close to a 1999 low. we have wiped out 30% of the value of the bloomberg commodity index. the commodity route is front and center in terms of stock trading. the dollar strength continues to even to commodities, hurt oil. hurt someially might of the big exporters in the united states when you look from a stock respecter. this is a great chart. this show to your today who are the winners, the losers on a currency perspective. check this out. every single currency is down versus the dollar. the dollar has been the absolute winter of 2015. look who ha

imposed. china's open market policy allowed farmers to make goods again. in november, 2014, the comment commenced operations with yiwu station at the beginning of the line. it is tea world's longest railway and part of china's one belt, one road policy. the 13,000 kilometer route takes cargo from yiwu to the spanish capital of madrid in 21 days. yiwu's exports surged by 46% between january and september of 2015 despite declining national exports. the railway has opened the way for more foreign trade. even so, unemployed people can be seen everywhere on yiwu's streets. >> china he's new economic strategy is to develop trade in inland regions leaving yiwu at a junction in its histories with all the hopes and struggles of the city's wholesalers and workers as they prepare for the christmas season. shanghai had seven huge wholesale markets and hundreds of thousands of wholesale stores. one district in northern yiwu exclusively sells christmas-related goods. with more than 300 wholesale stores filling the 160,000 square meter area, it's known as christmas town. an incredible 60% of all the c

china has posted a note on its website, confirming that we will see an extension of onshore yuan trading. the close will be at 11:30 p.m. that now being confirmed this morning by the pboc in beijing. we will come back to this later on. the credit crunch has claimed another victim. the fund owned by the carlyle group is said to have $1 billion of withdrawal requests this quarter. the fund has performed poorly over the last 15 months and has seen investors leaving in droves. joining us is simon dollars and bill o'neill. good morning to you, gentlemen. simon, did was never going to be one. there were always going to be many. simon: we had 3rd avenue a couple weeks ago with stone lion capital. it is a culmination of declining prices,rices, oil investors having stretched further down the quality curve to try and find that incremental yield trade. we've had significant redemption. we've heard over the last 24, 48 hours, it is worth $8.5 billion. i guess that is going to call into question sustainability issues about the fund going forward. canary in the coal mine, but there's never just one. i

politics. back home when you're talking to congress about this climate deal you want to say that china and u.s. are being held to the same standards. because developing and developed are not defined in the text, some could argue that china is a developing country and the u.s. is a developed country, and this little word shall gives the u.s. more responsibility. the developing countries get the word should and the richer countries get the word shall. and that makes sense many will say that they've created more of the emissions. but this is purposely vague so countries can move between categories as the world changes but also contemplates countries like china, who are huge economies and huge polluters who might be responsible for some of the finance. >> we were on the brink of things moving on. this is literally a lawyer running in and saying hold on, this is not right. >> it's hard to tell. they say it's because of legal reviews. but when the u.s. brings up issues like this that are old issues that we've seen for the last two weeks i really doubt if it's some pop star lawyer figured it

across the board. >> syngenta jumping at the open today on a report that chem china could be considering a multibillion dollar bid for the swiss agrigiant. >> power play, edf boosting it's power target this year thanks to stronger new output in france sending shares sharply higher. >> let's get straight to the market action. glencore shares trading higher after debt retux plans. the company outlined an ambitious net target between 18 and $19 billion next year. along side this the mining and trading company plans to cut capex as it grapples with a continued commodity route. share prices up 10% in london trade. that's also helped boost the mining sector more generally and one has to say, susan, that glencore has handled this latest head wind it's faced pretty well. if we rewind just a couple of months, wouldn't think it would have managed to reduce debt targets so significantly. >> yeah, credit default swaps were pricing in a 50% chance of default from glencore. the stock is still down 70%, you know, at one point we were down 75% on the year but is this really good news? becaus

big movers, particularly china. orphave seen metallurgical c of china has dropped as much as 14% this morning. set for its lows close in five months, that as it became a listed unit. a down 7%. is one of those that debuted on the market today, hitting its limit of 44%. that's after the five-month trading halt was lifted. the reference right to the weakest level since 2011. rishaad: i look at inflation -- a look at inflation, consumer price data coming out, does signal that demand is the mining -- stabilizing. demand may be stabilizing on the data we got out the last hour after a year of six interest-rate cuts and stimulus, cpi it rising more than forecast. is about half the governments targeted pays for the year, so there may be more room for authorities to loosen monetary policy further without stoking bubbles. the further decline in imports we got yesterday do signal some stimulation in the man. the worry continues to be prices at the factory gates, producer 45ce index in deflation for consecutive months. staying firm for the last couple of months. was for asus estimate fall i

%, the biggest drop in five years. china southern has announced a plan to purchase 10 aircrafts. this deals with almost $2.3 billion, with the plane's slated for delivery between 2017 and 2019. the new planes are said to help increase capacity by 4%, reflecting the glowing -- growing demand for travel in the world's most populous company. is value on the new planes valued at $10 billion. asian air travel growth is lifting demands for boeing and airbus, with china forecast to surpass the u.s. as the world's largest aircraft market. the company's economic expansion is making air travel more affordable to more people, prompting the airlines to buy mobile planes. , i think it will be a big airport contingent in hong kong today. right, thanks so much. speaking of surprises, no surprises, really, energy has taken a beating this year, but there were a couple of bright spots out there. we have a look at asia's biggest winners and losers in 2015. reporter: if you want to look at bright spots, let's look at health care and consumer staples. that is as the overall asia pacific is down about 4.5

purveyors of the plush, we'll see if they're worth owning. then, a meal ticket out of china's middle class. is yesterday's spinoff good news? plus two of corporate america'a' oldest institutions and they just had a merger. don't miss my take on dowdupont. today's news. and you know what i suggest you do? stick with cramer! >> announcer: don't miss a second of "mad money." a follow @jijiramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. head to madmoney.cnbc.com. i have asthma... ...one of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine, i talked to my doctor and found a missing piecec ininy asthma treatment. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled$ on a long-rm asthma control medicine, like an inhaled corticosteroid. breo won't replace a rescue inhaler for sudden breathing problems. breo opens up airways to help improve breathing for a full 24 hours. breo contains a type of medicine that increa

conscious of this and want to do something >>> schools in china's capital have been told to keep students indoors after air pollution rose to dangerous levels. the air quality in beijing was more than 35 times internationally recognised safety limits. industrial plants have been ordered to reduce production or shut down completely. china is the world's biggest carbon emitter. china correspondent reporting from beijing >> reporter: well, imagine waking up to this. this is the fourth straight day of hazardous pollution levels here in the capital. mid morning on tuesday the air quality index was more than 540 t but on monday evening in the south of bay jack ginning the air quality-- beijing index reached nearly a thousand. that's how serious it was on monday evening. the government, of course, has pledged that by 2030 its emissions of greenhouse gasses will have peeked but that still means we're going to have many more days like this or, perhaps, even worse. in the meantime, for the moment, the government is ordering factories, some 2000, to slow their output or to close. schools are not clo

january 11th. pakistan, china and the united states will also attend the meeting in islamabad. >> translator: the fundamental issue here is the choice, choose peace or terrorism. there is no second choice. the step that has been taken is in the framework of quad lateral cooperation. there will be no tolerance of terrori terrorism. >> reporter: a political analyst joins me now from the afghan capitol. i'm wondering what you make of his demands of the taliban, and what the taliban is demanding in return. >> well, i think it's great news because after a long time there is a date set for negotiation between taliban and afghanistan. afghan government, and also it shows that there is some seriousness on the part of pakistani government to bring taliban into negotiating table with afghan government, but i think -- any negotiation or peace talks take place, it's very important for the afghan government to set some preconditions for the taliban, the most important is some sort of de facto ceasefire. they have to stop attacking targets inside of afghanistan. because otherwise peace nego

>> china will do more to support the economy. a run out to monetary policy. a decision on the fed. >> welcome to countdown here in look atold the let's the overnight. i understand the big move. here you go. >> the chinese leaders will do more to boost growth. it makes policy more forceful. latere a rate decision and they expect the increase after a survey from bloomberg. members took board meetings before the policy decisions. backials scaled engagements. year andre up next they said the demand for housing stays strong in the economy. rocket has gone to orbit. it intoo rocket guided an old missile range. for more on these stories, go to bloomberg. chinese leaders will do more. there is more stimulus. the chief economics correspondent joins us now. how significant is the announcement? is significant and we do not know what the growth target is. thate meantime, we know they have to do more to keep the edge. particular, we see a shift supplies and it is significant. we are not reading much into the's comments. important and the official commentary is about easing up and freeing up th

: on that basis, it's possible it could end in failure? << i don't think so. the last thing china wants to single is by clashing the climate deal. they got blamed after kopenhagen and that really hurt. we will find out when the dust clears. i think they will get through to a deal. everyone is waiting to see what will come out. >> reporter: the intricacys are difficult. we will get our hands on that text in 20 minutes or so >>> crossing to adrian brown who is in beijing. china, perhaps, may not be particularly happy with this version of the draft. what has china's strategy been at these talks? >> reporter: before the climate change talks began in paris, china said it wanted to go to this summit prepared to take decisions that were positive, pragmatic and balanced and automatic along it has been-- all along it has been stressing this again and again. it is a developing nation even though it's the world's second largest economy. there's a good reason for that. if they were classified as an industrial nation like the u.s., it would have to make a whooping contribution to that internat

. dollar, down with the china takes the reins of the g-20. claims calls for indonesia's speaker to step down. the biggest loser, australia's gambling addiction the coming the world's most expensive. that story and much more on this monday edition of "asia edge." we are seeing a broadly higher session here in asia. so far this morning, strong gains out of japanese stocks on the back of a weaker yen. energy coming under pressure as the price of crude continues to decline. we are seeing positive gains. 1%.hang seng up by 3/10 of angie: oil is back in the headlines today after opec ministers abandoned any pretense of unitive and a chaotic meeting -- pretense of unity in a chaotic meeting in vienna. it is all down to this -- saudi arabia won the day. zeb eckert is here with the economics and politics behind it all. there is only one boss in town, apparently. zeb: there is a bit of tension between saudi arabia and russia. saudi arabia does not want to give up market share until others do. it has been maintaining the production levels despite the glut of global oil. no one wants to see th

38 in the following weeks. up next, china's foreign exchange reserve falls below the $.5 trillion. pboc intervention. coming fresher -- coming pressure on the yuan. ♪ guy: 14 minutes past the hour. welcome back. you are watching the pulse pierced streaming on bloomberg.com. china's foreign exchange reserves fell to $2.44 trillion. that is a big number. let's find out what it all means. tom, the fall was expected. talk to us about the reasons behind it. there are a couple of factors at work. firstly, china's this is his. china's investors -- china's businesses. china's investors have expectations that it will weaken in the weeks ahead. china's central bank, the people's bank of china isn't ready to allow the market to do its work. to allow the market to push the yuan lower. it continues to spend large quantities to expand china's exchange rate. guy: how does that fit side-by-side with the news we learned about central bankers have lowered the range. put those two pieces of news together for me. tom: we need to disentangle day-to-day movement in china's exchange rate from the broa

. at the marketsok right now if hong kong and china currently close -- but here's how they were trading in the morning session. the shanghai composite building on the gains of the year despite that. checking the rest of the picture in asia, mumbai gaining right now. if south korea climbing half a percent higher. i am back in half an hour. ♪ emily: i'm emily chang and you plus, detroit clearing up at the silicon valley. silicon valley raises the bar on over-the-top holiday parties. but with a guilty celebration at google. this -- that is a space x rocket trying and failing in a soft landing on a barge in the middle of the ocean back in april. today is a new day for elon musk and the space industry. axis relented up right a launchpad at cape canaveral. ted was the first flight another was destroyed by fire. the point of this experiment is dramatic cost reduction. they spent more than $60 million on each standard launch and musk is aiming for 100 fold cost reduction. how close are we to the goal? joining us to discuss is lori, a former nasa administrator, and jimmy, the ceo of a satellit

break into two or three businesses because of regulatory issues. china's consumer inflation beat estimates. cbi in november rose 1.5% year on year. the producer price index fell, extending declines. yahoo! shares surged in extended trading after a source said the will spin off its stake in alibaba. norway's sovereign wealth fund says it has recovered from the losses it suffered in the second and third quarters. the ceo said the fund has been dramatically changing its portfolio. if you look at the big picture, the fund has been reducing dramatically. next, oil bounces back from a six-year low. we talk about the new reality of a lower oil price for gulf states. ♪ think that the right price -- [indiscernible] we are cash neutral. i think the right price is not just the right price for us. it is the right price for the industry and for the producing country. francine: that was the ceo of eni talking about the breakeven oil price. this is a picture of crude at the moment. low, butf the six-year very close to that. nymex at $38. the printing -- the plunging price of oil has been hitt

. losses extended 34. the asian session, 78. yvonne: thank you so much. to china now, easing measures target regions with a surplus of unsold homes. we are here with details. >> and improved situation generally, more cities in china seeing new-home price gains in easing measures targeting regions with excess inventories. rising and 33 of the 70 cities tracked by the government, compared with 27 in october. it had been rising consistently, then stimulus measures weighed in a bit. on september 30, new easing measures on first and second home purchases, and so maybe were seeing excess inventory work off. 10 cities in november so there new-home prices remain unchanged. generally, and improved scenario, perhaps proof that the easing efforts are working. we need to see more, but top decision making in china, the politburo on monday vowed to make reducing home inventories a key task of next year. the number of unsold homes jumping 12% in november from a year ago. been a difficult supply glut in third and fourth tier cities. that is hindering an economic recorder -- recovery. tosident xi jinp

>>> we have extensive coverage on the story. adrian brown is standing by in beijing. china produces more carbon emissions than any other country. margot is in that nil lay. let's go to paris. what's happening now? >> what's happening now is the final text has now been released over a half hour ago, and all the national delegations pouring over it to see what they make of it. in theory at a quarter to 4:00 local time all the parties pile into the chamber, and the process will begin of hearing people's objections and otherwise. at some point at the end of that, the gavel will go down and we'll have an agreement. it depends on you people view the text. we hear that the 3.1 section of the last foundational text, which refers to long-term builds is a sticking point with china. we know that the chinese premier and the president have been speaking on the phone. maybe progress is being made there. we see how it all goes down when we have the plenamreplenary sesa little while. you have to think that sooner or later there's a deal. we spoke to the swedish deputy prime minister a little earlie

was pushed to february. anna: the warning of a disturbing deterioration in china is sounded, even as property prices spread. manus: good morning. anna: welcome to the program. we have a lot to get through this morning. manus: we turn to this on quite a frequent basis, but it is worth mentioning -- we are below $35 on oil. stock crude is the highest since the 1930's. commodities are getting crunched. highan sachs is warning risk that the prices may even sink further, before we see a contraction in supply. and we are reaching our storage limit, according to the story this morning. if you are wondering about 6% aboveti is about the 100-day average. anna: that is interesting, tying into what the fed this week to what they did with bond markets -- the recession with the commodity sector. what that is doing to inflation, the prices coming down. and inflation expectations are therefore coming down. that means we are seeing some of the long bonds on the long and end of the curve going up. an interesting grasp of connections all coming back to the commodity story grad. manus: post fed hang

give you one example on the solar pv. china pushing the solar pv meant in the last five years, the solar pv cost declined by a factor of four. a big decline there. so they are becoming competitive in many case and efficient products are also becoming competitive. many people who work on the oil business on the other sector, we see oil and gas, that would be efficiency gains to push the cost down but more and more oil will come from more -- the complex and of a range the cost of oil and gas production extraction will go up and it is the very reason or one of the reasons why we expect, i will come to it in a moment that we expect the oil prices may well gradually increase in the next years to come. this speaks to oil and we have seen a major growth of oil production in the united states, tied to oil, perhaps demand but when i had the privilege to -- to present in 2009, we sat here, that is a silent revolution taking place in north america with all these implications and we are seeing this as a result of lack tight oil and shale gas, huge implication for energy works for geopolitics b

>> next on book tv she describes her experience escaping into china, being sold in the slavery and finding freedom and south korea. [inaudible conversations] >> all right. hello, everyone. thank you for coming to tonight's event. a few announcements before we begin. silence your cell phones. you can always keep up with our comings and goings comeau we have calendars of the information desk. for your information c-span will be coming this event, and your image may be captured. a presence here indicates your permission. because we are being filmed my guess is a question-and-answer portion please raise your hand and wait for the man with a microphone to come by in order to ask a question. i also have a new website platform. closing early tonight. we expect this to be a lively discussion and are not asking anyone to leave early but we will close down promptly at 855. the bathrooms also close of a 45 tonight. tonight we are very happy to welcome yummy park with her memoir in order to live in north korea girls journey to freedom. she was born in north korea under the rule of kim jong-il

about the book in the broader economic context of china and just a word about hank paulson. i know something about policymakers behind the scenes and i don't think anyone went through a stressful it period as treasury secretary as you did and put this country on a footing for the future, this country in the world. i just wanted to say it's a privilege for me to be here was someone who is writing here about his effectiveness and as a policymaker in his long experience with and dad with 100 visits to china going back to the cls goldmans. with the of the private sector and the public sector together as he assessed the greatest economic rival and the bankers who until recently believed the banker of u.s. debt. secretary paulson thank you very much for being here. >> andrea, thank you. it's my great pleasure to be here with you because i have a mired the job you have done for a long time and i think you will for being here. i'm looking forward to the conversation. >> "on the brink" is a fascinating insight -- "dealing with china" is a fascinating insight. the president tried to explain

chain accepted a sweetened offer. china cracking down on peer-to-peer platforms. they're vowing to cleanse the market. the platform should serve as an intermediary. says theys the pboc are strengthening oversight of online payment firms. kong,e of markets, hong shanghai, swinging back into gains. gains in some parts of the region today. those are your top headlines. ♪ >> this is bloomberg west. cori: i'm in for emily chang. mark zuckerberg fires back at his critics about expanding internet access in india. 'tis the season for jeff bezos's net worth to soar. gender and racial equality are back in the spotlight as twitter names a new head of diversity. now to our lead. facebook's mark zuckerberg making a personal appeal in one of india's leading newspapers insisting that the country allow , a free internet service. india, secretary wrote "instead of wanting to give people access to some basic internet services for free critics continue to spread false claims even if that means leaving behind a billion people. " it allows free mobile internet access. a restricted handful of apps inc

>>> a prominent human rights lawyer in china gets a suspended sentence. he could now be released from jail. with the world news from al jazeera. also ahead a governor pleads for help. >> i will be back. thank you >>> blatter gets the boot. he is vowing to fight his f.i.f.a. suspension. cecil's revenge. a crack down with american big game hunters in an attempt to protect lions. a leading human rights lawyer in china has been found guilty in a trial over online posts. she received a two-year suspended term. he was arrested over posts that criticised china's government. he has been held for 19 months but is due to be released. >> reporter: he had been facing anything up to eight years in jail for the crime of posting tweets on social media which poked fun at china's government as well as raising questions about china's policies in tabet and other regions. he had spent 20 months in detention and it is possible, i suppose, that the judges felt that that was punishment in itself and served as a warning to other human rights activists who held the same views, but certainly this verdict

if they're worth owning. then, a meal ticket out of china's middle class. is yesterday's spinoff good news? plus two of corporate america's oldest institutions and they just had a merger. don't miss my take on dowdupont. today's news. and you know what i suggest you do? stick with cramer! >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. at ally bank no branches equals great rates. it's a fact. kind of like ordering wine equals pretending to know wine. pinot noir, which means peanut of the night. ♪ >>> jeez, when you only sleep three hours a night, you take it when you can get it. after today's vicious beat down, it's worth remembering that not every stock that went lower today actually deserved to get hammered like it did. there are plenty of companies doing whatever they can to take advantage to control their destiny. you should buy stocks and the market throws a gigantic sale like it did to

as possible. >>> u.s. diplomatic sources say china is involved in the arrangements beijing is steek help improve his ties with the community. >>> policy makes at the u.s. central bank have signed off on a major shift in policy that's rippling through markets through the world. gene otani has the details and a wrap-up of other business headlines, gene. >> thanks, james. >>> officials at the federal reserve have raised the interest rate for the first time. consumers face higher payments on mortgages, car loans and other borrowings. it could prompt investors to move their money out of other countries and back to the u.s. policymakers made a range between 0.25% and 0.50%. they say the u.s. market has big strides. fed chair janet yellen stressed the central bank will continue to keep a close eye on the economy. >> with the economy performing well and expected to continue to do so, the committee judged that a modest increase in the federal funds rate target is now appropriate, recognizing that even after this increase, monetary policy remains accommodative. >> japan's economic revitalizat