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

or china? one would assume it would be the u.s., because it is the bigger economy and has the deficit and needs to eliminate it. i think it does come to a question of whether we move beyond this stage, sound and fury signifying nothing, to a trade war in earnest. nothing is happening despite the moves we are seeing. if it does come to something in earnest, the u.s. may be overestimating its strength. ,f you look at the categories american imports from china are largely consumer goods, computers, clothing, mobile phones. they are very dependent on china. typically more than 30% of american imports. these are important--- import-dependent. what will probably happen, is a push-up prices on domestic consumers. if you go the other direction, chinese imports from the u.s. -- soybeans has in one example, aerospace, things they do not directly affect consumers. on one side we have a dictatorship, and on the other, a democracy, one that is very solicitous of the views of businesses. they will be a lot w

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

and maintain a balance by close ties to china. always be closer to china than the u.s. is. when the ldp collapsed, that mainstream view flipped. and from prime minister to today, every japanese prime minister has been what once was called the anti-mainstream which was more pro-taiwan, more maritime. and so you've had this flip. in taiwan, which mike will know much better, before democracy, the view of japan was pretty positive. but with the dpp, with democracy, the dpp has aligned quite a bit with this maritime view. when i was in the nsc i could not go to the shrine for obvious reasons so i was curious to go in 2006 when i left the nsc and was a private citizen. i walked to the shrine and usually see the old imperial japanese rising sun flag. to my surprise when i walked in, there was a dpp flag flying. which proves the old adage the enemy of the enemy is my friend. the dpp on most issues is aligned with japan's opposition power, nuclear, power. on this one strategic questions, the dpp kind of aligns pretty well with abe. so, you have the u.s., japan, taiwan all kind of al

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

haslinda: qc retaliation from the likes of china? china in particular? is the i would say chinese government has proven itself to be an extremely savvy, astute operator. for whatever they do, i expected wide,very astute, very and very clever. that is the world we live in these days. these sorts of things tend to grab the headlines. there's more fundamental and the story things happening, like the continuing rise of hundreds of people in china, india, southeast asia into what we call the global middle class. regional and international tourism is moving. international tourism is growing at twice the rate of the global economy. technology, so those are much bigger and more with no lesser old-lineut so-called industries like steel and aluminum, these days, we have much bigger things going on in technology, internet, and towards the lifestyle. haslinda: you're talking about china. we see an excel region of china's investments into indonesia. do you see that taking even more yes, it short. haslinda: can you quantify that china has gone from, five years ago, be

-china ties. it will be a tricky conversation he will have to have with his colleagues in washington given that tensions are being exacerbated. it does have experience politically. the premier will get a second term. there.rise certainly a less powerful position that his predecessor. once, that was xi jinping. we will get additional confirmations, likely some -- the finance minister in some military posts as well. it will wrap up tomorrow. . -- tamara. -- tomorrow. david: thank you. backtracking on economic dialogue with china. japan is a market where fundamentals seem to be going out the window. the mismatch between shares and earnings. this is bloomberg. ♪ votes to relax david: this is daybreak asia. betty: we have breaking news right now. more on the mueller investigation. a reiteration of what we have been hearing from the white house. tire, commenting in any mail statement that the white house is not considering or discussing robert mueller. white house not discussing or considering firing

china is a large and growing source of revenue for some of the largest american companies, and china has also shown a propensity or a preference for using nontariff barriers around access to their domestic market for multinationals. what did you think of what the treasury secretary said over the weekend, steve mnuchin, when he said, look, we do not want a trade war but we are willing to go ahead. how do we read between the lines on that? well, i think it is certainly... it is certainly encouraging that they are using this asa encouraging that they are using this as a negotiating ploy. that is what it seemed like from the get go, i think the actual tariff measures are afar think the actual tariff measures are a far cry from what the trump campaign spoke about in terms of the actual rate. i think it is a negotiating ploy to get further access will open up access for us companies in china's domestic market, or two in courage china to buy more imports from the us. —— to encourage. lessing courage in is that it does not seem to be a durable solution, if they convince china to simply b

and china? are we on the verge of a trade war we'll talk with peter navarro up next live right here as we look ahead on sunday morning futures we'll be right back. [thud] [screaming & crying] ♪ [screaming & crying] ♪ [screaming & crying] [phone ping] with esurance photo claims, you could have money for repairs within a day... wow! that was really fast. huh. ...so it doesn't have to hurt for long. hmm. that's insurance for the modern world. esurance. an allstate company. click or call. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. maria: welcome back trade fears rocking stock prices after president trump announce

and china subsectors. what we see is insurance has sold off results because the outlook for 2018 isn't so great. and our insurance analyst thinks that 2017 was a good year but 2018 is a little more potential regulation. you've got the insurance regulators combining with the regulators, thebacks may have a bit better time than insurance. all these things are being factored into the 2018 outlook. are a ar the banks little more resilient than people think. n.p.o.'s ok. capital depending on the banks here and there, some are better, some are not so great. so we -- we maybe have surprisingly a better year for banks than for insurance on a year-over-year comparison basis. haidi: when diyou mentioned the merging of two regulators. i wonder about your view on the elevation to the top post at the p.o.c. is this hawkish? he's the one who steered them in the shadow banking crackdown, does his appointment mean we're going to get another step up in leveraging and does that translate either directly or indirectly to fin

china -- u.s. china has been on the outside. it will not be lost on the chinese side that president xi jinping -- those three countries will be the only ones to have not met with kim jong-un. remember, china fought alongside north korea in the korean war and it has had a historical relationship with china. china will want to get involved and be able to influence and shape the negotiations as they proceed. in terms of the location, i do not think north korea will want it in china. they will want to be seen as doing this on their own and not under pressure from the chinese. the demilitarized zone is a place. left withn had never korea since becoming the leader of north korea. i do not think you will be willing to travel outside north korea for this reading. -- this meeting. haidi: what is beijing's angle on all of this? clearly what the chinese want is a much more stable situation. in the short-term, they will get that if the talks continue and the missiles are not been tested, and nuclear devices by the north are not tested. you

argument that china does treat -- that china does cheat on trade? >> we have an alliance with the united states, which does well beyond our economic relationship have startedly we to build a relationship with china and we will continue to try to pursue both of those relationships. well, there is plenty more ahead. li, set toing on speak in china, alongside his giving us amieres, look at what the economic five print and blueprint will be. rishaad: this is bloomberg markets asia. i am haidi lun. rishaad: i am rishaad salamat. the weinstein company has filed for chapter 11 bankruptcy, protected in the court of delaware. of two $1bilities of billion the company could have founded. be purchasedll under a so-called stocking fourth deal. nondisclosure agreements have not ended. rishaad: united technologies ceo greg kane planning his retirement, but not until he has completed the company's $23 billion buyout rockwell collins. ofhe discussed his measure the magazine. he rejuvenated the company by investing in the politics -- with new products. and we were go

missile and nuclear bomb tests and china suspended colin imports from the north last year china's overall trade with north korea declined by more than ten percent in two thousand and seventeen and that appears to be a major economic blow considering china accounts for almost ninety percent of total trade well let's bring in our panel now from saul carroll the director of m.k. news a new site focused on north korea from beijing on a tank and an investment banker and advisor to the chinese government on economic and development issues and from chicago father of the chicago council on global affairs welcome to you all mr ken jong un's first trip to a foreign country since taking power in two thousand and eleven just how significant is that and does it mean that north korea is now ready for more engagement on the nuclear issue. well it's significant in the sense that it is condolence first of a trip overseas it's been six years since he became leader. and going to china in his father's ahmed trained seems like a small voice of security it is a priority but you know it is for the north korean

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

demands will be which will help china. it's a visit that would have seemed unimaginable just a few months ago where north korea was ignoring chinese appeals for restraint at an exhibition showcasing some of china's technological achievements the message appeared to be we can help you with all of this if you behave. china's leaders are fond of metaphors that are lavish banquet she told his guest that in the beautiful season of spring everything comes to life kim replied i believe our meeting will yield abundant fruit that could mean making good on his commitment to give up nuclear weapons the fruits of spring were apparent in the garden of the state guest house where friendship also seemed to blossom she accepted an invitation to visit north korea and told him he was welcome to visit china again the visitors left happy adrian brown al-jazeera beijing. well china and north korea have a mutual defense treaty signed decades ago but chinese leaders have tried to convince their neighbors to stop developing nuclear bombs the chin

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

china is enforcing sanctions. although there's a lot of evasion, i think they're doing a lot more than, say, russia in this case. >> thank you so much for joining us and your reaction to all of this. we've also got market rations going on. let's get to the author of "nuclear showdown." he also joins us on the phone. gourde, thanks for joining us. what do you make again of all this? >> i think there are a couple of things at play. first of all, the sanctions are starting to bite kim jong un. he's starting to realize that it's a good time to talk to president trump because things will probably get worse later on. also what's stunning is that president trump agreed to talk and agreed to do so by a certain date. or a certain month. and i think here what's going on, which normally you wouldn't do something like that, such a quick acceptance, i think what president trump is trying to do is to prevent a rift with the south korean president who very much wants these talks to go on. and moon, for his part, wants these talk

and china. this is a really big risk, and a bigger issue than monetary policy tightening for markets at the moment. rishaad: what are they paying attention to? the monetary policy side of things or the looming possibility of these tariff clouds on the horizon? mark: i think that the fact that it was jerome powell's first press conference and his first meeting, and therefore, everyone is really focused on whether there would be a complete change , this is where he lays the groundwork for what kind of charity. there is an awful lot of focus. and an ordinance amount of focus -- an inordinate amount of focus. it was not that big of an event. people have not really been focusing on the trade risks. i think that we will get more of a shift for trade risks. it is only in the next 24 hours that we are expected to see trump signed these new targeted tariffs into action. soon after, we expect to see the china reaction. very quickly now, we will move on from focusing on the u.s. fed policy and seeing that

and china. u. >> but is raising tariffs even higher the way to do this, though >> i think there needs to be a negotiated arrangement between the two countries. and i think it's important to note that most of the types of things that are being discussed from the u.s. side, can be delayed in terms of their implementation and hopefully will be. because i think there's a need for the two countries to basically normalize. their relationships. and you can't do it on a three-to-one difference. and so, i anticipate rational people will be able to come to a really good solution which would be good for both countries >> some people describe you as president trump's china whisperer. i'm sure you've read some of the stories, right based on your relationship with the president, what you know, possibly the recent conversations you've had with him, can you take us into his mind right now, what is he thinking with regards to u.s./china >> well, if i knew completely, i wouldn't share it on global television >> i

is a sense in china that china can go forward even more strongly. the ways in which it wants to project power. this isjust an extension. the question is, what are the internal views of this shift? there are some in the civil society of china who are upset with this but i've talked to a good number of people in china who are not upset with this. they kind of like it. it's an opportunity for china to be stronger and an opportunity for their businesses to proceed in a stronger way. what about relations with united states? it's kind of interesting. president xi has gone a bit more solo and president trump has gone a bit more solo but there isa has gone a bit more solo but there is a big difference between the two of them. president xi is very experienced, a deep reservoir of expertise behind him. president trump doesn't have a lot of expertise, he is inexperienced. you'll find this development in china really will more starkly set up china really will more starkly set up some of the differences between oui’ up some of the differences between our two c

how reliant are they on china? >> china is a huge market for boeing. they put out these long-term market updates, 20 your forecast with a look at the market. china figures as the most twortant market, about replace the u.s. is the biggest travel market. they are traveling locally and internationally. this is a market they can't afford to lose. francine: the population in china was 1.4 billion. how big is the aviation market in china? >> we are expecting china will lead 6000 new aircraft in the next two decades. that's huge outflow from factories in europe and the u.s.. we saw this when trump was in china. he announced a big order for 300 aircraft. smaller aircraft, but also some wide bodies. this is where the growth is coming from. globally, china plays an important role. a lot of areas of growth have dried up. the middle east is not that engine anymore. europe is done with its replacements. growth in the u.s. is not as it used to be. china is where the action is. they produce locally. they have a leg up on boeing. that is not something they will be ke

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

is that a concern for china? claire: to china it is a trade surplus. yvonne: a trade deficit for this month. claire: oh, for this month. it is not a concern because we think it might be temporary. yvonne: due to seasonal distortion? claire: yes. chinese new year. yvonne: we saw a sizable drop or the month. is the reason to believe this is more than seasonable? claire: we have to be a little more careful because of the -- it's better to look at it pboc number to see the reserve. it's largely stable over the year. yvonne: claire, thank you. jetties conglomerate dan tower group is not concerned by trade tensions between the u.s. and china. said he will continue to look for assets in the u.s. concerned.ot two big powers like china and the u.s. should be partners in a trade war will not take place. the two countries need each other, i think. >> do you expect to face more hurdles in the u.s. market? does it make the u.s. market less attractive to you? >> so far i have not felt so. >> they are looking at giving and thatore power could potentially impact compa

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

the difference is, if you look at how china developed in the past 30 years, the reason china could prosper was because deng xiaoping put in reforms after chairman mao's death, the first was to move into a free market economy, and the second was to put in institutions to end the single person rule until death, which very much collapse the economy and one of the most populous countries of the world. so we have a collective leadership since the late 1970s. we have fixed term successions, every ten years the leadership gets thrown out and a new one comes in. since 1988. and yet xiaoping, who you mentioned, who was the supreme leader who came behind chairman mao, he only ever led the association in the last few years of his life, yet he was paramount leader. why does xi jinping need the title of president any longer? can't he have his years in the spotlight and then move behind the curtain? xijinping has had lots of years in the sun, but this is a man who grew up in the isolated compound. he is the son of one of the great ten marshals in china who founded chinese communism. so he grew up with t

china says $3 billion in u.s. goods, pork, aluminum and steel pipes, fruit and wine could be subject to tariffs of as much as 25%. the list does not include u.s. farm products for now like soybeans. >> could be negotiated a little later. >> president trump says that trade with china must be addressed. >> the largest deficit of any country in the history of our world. it's out of control. >> u.s. tariffs against steel and aluminum products are set to take effect today. however, some countries including china -- canada, mÉxico and eu member countries have been granted temporary exceptions, lauren. lauren: you can see futures are down pretty sharply right here in the u.s., down 100, it was down 200 earlier but this is a volatile market. s&p futures down by 8 points, nasdaq futures down by 47 and quite honestly for the month of march, this could be the worst performer for the dow in 17 years. david nelson, chief strategists, sean ohara, good morning, gentlemen, what a day. start with you, sean, what exactly is affect

. >> brangham: en as that trade ficit with china has grown, american exports to china have also grown. last year, ty rose to $130 billion. the president's new taxes and tariffs could impact roughly 1,300 chinese imports, products we buy and wear and use every single day. but will these tariffs have the desired effect? ian bremmer is president and founder of the eurasia group, as well as a global researchew professor atork university. welcome. >> good to be with you. >> brangham: the stock market did not like the t trifday, it seems. what's your take on them? >> well, there's no question that a 700-plus point drop is probably the largest we've sen in decades on the back directly on the actio of an american president. so that's significant for a president who's been talking up the marke with reulatory rollback, corporate tax reductions. business has generally been very thppe markets take a big dump, unlike trump's threatenedri s to allies all over the world, the corporate community has been increasingly saying t the trump administration we think you need to beougher on china, we're not

would this be china? joe: i think that would probably be the way to go with china. trump made an offhand reference of what he called a reciprocal tax, which is basically a tariff on goods or particular products that are brought into the u.s. that faced tariffs when they are sold and made in the u.s. and sold another country. is one area where you can target china. that was with the solar panels and washing machines which he did previously. he could expand that and wants to expand that into other areas, although he was not specific and white house officials don't have any plan to roll out out. that may get more support from republicans in congress who are calling her a surgical action that is specifically targeted. ramy: what surprised me is elon musk at tesla said he agreed with donald trump on those 25% tariffs, especially because tariff is taxed so much in china. joe, thank you as always. first wrote news now with courtney collins. say u.k. sources doesn't anticipate a brexit deal , with generate a more realistic date, and the chief negotiator michelle barnier has

rishaad: china does not want to see instability, hence why -- tim: china, i think china wants to see a stable and strong europe. brexit was a little shocked to them. there are populist pressures in other countries. europe might be strong enough to pull through this, which i think is what the chinese are hoping. this is an important partnership. not something brought up in the national people's congress. tim: not specifically, but what we have seen from xi jinping, they will be some rhetoric about greater opening in the chinese economy. we after the party congress, greater stakes in financial businesses and so on. there may some more measures along those lines that would fit. rishaad: let's look at the way china needs the eu, and vice versa, if we have this world going into a more protectionist phase, given what donald trump is doing with steel and aluminum just being the first salvo in a trade spat, hoping it is not a trade war. tim: since trump's announcement, eu and china again have been aligned on something in response to a u.s. position. we saw that previously on climate change,

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

in china. this is bloomberg. ♪ betty: this is "daybreak asia." i am betty liu in new york. yvonne: i am yvonne man in washington. turning up the heat on china, trump calling for tariffs and restrictions on china. let's get the tom mackenzie. he has the story from beijing. good to see you. president trump slapping tariffs on steel and aluminum, he did mention this is not the only stop, the next seeming to target intellectual property. tom: this is the stage where it becomes concerning for china, they don't need to be too concerned about the metals tariff. but in terms of broader tariffs on a broader range of sectors, yes, that is going to get china's attention. politico say they have three sources who told them trump was presented by robert lighthizer, representative, with a package of tariffs worth of 30 billion u.s. dollars a year on chinese imports. trump said the amount is not high enough. lighthizer has long been a china hawk, he will go out and come back with a higher package. the offici

and china. they oversee any tariffs china on chinese agricultural products. we are going to be going to a briefing by the delegates in heinen island with the conglomerate having to sell down their assets for the debt crisis. we will be talking about the fate of that company and potentially, as you punched on, plans we have heard to potentially allow gambling on the island, which can have significant implications for the casinos in macau. yvonne: i certainly here rumblings early this year as well. in confirmation. you, tom mackenzie, our china correspondent, joining us from beijing. let's bring in co-author of red capitalism, one of the big watchers we have talked to. fraser, you're talking about this. overpromising and under delivering when it comes to some of these targets? it may look a lot for the are than it was, but this is a highly stage-managed performance, and changing the constitution, there are serious things going on. it is clearly important news that can come out of it. yvonne: it is largely a rubberstamp. >> of course. if you give it a lot of med

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

and china. haidi: that was the singapore economic development board chairman speaking to haslinda amin. -- onature to bloomberg bloomberg to bring to retention is tv . it to watch us-- live our catch up on previous interviews you might have missed out on and do a deep dive into the securities were bloomberg functions we talk about. you can also join in on the conversation and send us instant messages, questions for our guests. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪ rishaad: haidi: this is "bloomberg markets: asia." i am haidi lun in sydney. rishaad: i am rishaad salamat. the business flash headlines. , squaringook at apple up to google in education, a market it helped to pioneer, but it has allowed to languish and is releasing a new ipad for students that targets google's chrome book laptop as they have become popular in schools. what about pricing? for students and teachers. meanwhile, others can buy it for $329. apple introduced a new servic

president donald trump announces new tariffs against china triggering fears of counter measures meanwhile the e.u. is granted an exception for now. and thousands of farmers in zambia are forced to leave their homes to make room for large scale industrial agriculture will speak to some of the evicted families. it's time for business on d.w.p. and how are you going to get us welcome to the program it was an eventful day for white house trade policy president trump except at the e.u. and several nations from steel and aluminum tariffs at least temporary a short time later he signed a measure placing sixty billion dollars in tariffs and a broad list of imports to the u.s. at the heart of both actions lies the same quote economic enemy in terms words china and a belief that trading partners must exist on a level playing field the tariffs will hit more than a thousand categories of chinese goods the identities of which are to come later transactions follow a trade investigation into china's acquisition of technology and trade secrets through unfair measures the outcome was no surprise china has

china says north korea is prepared to abandon its nuclear program after an historic meeting between xi jinping and kim jong. il raman you're watching al-jazeera live from our headquarters here in doha coming up in the next thirty minutes u.n. security council members trade blame and vent frustrations over there and heated demand for a syrian cease fire. there could have been a difference in the referendum. you know had there not being in my view cheap. the man who blew the whistle on the facebook data scandal testifies that dirty tricks were used in the case of brecht's it campaign plus. fishing is still big business here in indonesia a population i declined and the government eighty three. and we parted from an option. on. welcome to the program north korean leader kim jong un has met chinese president xi jinping for the first time during a secretive visit to beijing it's kim's first trip abroad since taking power in two thousand and eleven details of the meeting were only revealed after it had taken place relations between china and north korea of cooled in recent times yet the visit

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

now sees china as a strategic competitor. in some guises even as hostile or an enemy and in that context china could quite reasonably say well if the us is going to keep out steel on the grounds of national security then we can keep out u.s. critics on the grounds of national security and so since there is a doubly so exception for it it remains to be seen how that case was go if these are richer which the rule of gates the us you could imagine donald trump using this as a pretext to walk out of the w c o r that blows up that obvious you know or at least a new kind of globalization which is a globalization which bypasses the u.s. and you're already starting to see that i mean the first move on the international scene that donald trump did was to put out the transpacific partnership with eleven pacific nations including canada and japan and australia what you saw is that those countries then went ahead without the u.s. or you see in the e.u. concluding trade deals with japan and others recently and so you know another possibil

the game standard here is something china can do on it sign. i sing a lot of new companies or schools will look at sudan and really copy it because they started a good cross check and now you can spread it out but from my point a few it's really important for them to console swiss european clubs or schools where they have the experience bring them in let it explain let them build up coaches here in china and they could start. but what's really amazing about all this is that these coaches have bypassed cities like by aging in shanghai to come here to see what really is a very out of the why remote town it just shows that those in the know think that this here is the future of chinese football. not that the students themselves same that interested in the home grown lee. will listen can you only do this with omega only in your me oh you're going to go on the day. that old old. boss. in me. don't tell the sunny how well my ideas are sound i was wrong we can. make my account. from the cold mountains of jodan more than a thousand kilometers to the ea

you can attribute the good news that they are perhaps talking to china, so what's your take on china's involvement? >> well basically china's jived us for 25 years, they've said repeatedly they don't want north korea with nuclear weapons and done precious little to change that. they could eliminate kim jong-un 's regime very easily. i think frankly, it's in china's own national interest to see the korean peninsula reunited. i think we should be having talks on that i wish we had started a long time ago but i think it's time to tell china when we say we want denuclearization we mean we want it now and let's be clear that the difference between our current situation and prior diplomatic efforts is technological. north korea is very close to accomplishing what its been after. cia director mike pompeo used the phrase recently they're a handful of months away so elaborate diplomatic negotiating , toughening sanctions isn't going to do the trick. maria: you raise an interesting point i want to ask you about iran and how it fits in here but let me stay on this because just heard from the majo

and bad for china good because china has had to enforce the sanctions against north korea it has made efforts to shut down businesses that have been facilitating trade between north korea and china it has gone along with efforts to really freeze north korea out of the global financial system it has cut off the oil it's been sending to north korea it has been importing coal from north korea that has had a mild economic impact on china but what it has done is created this unprecedented strain in relations between beijing and p.r. nyang relations really are at an all time low china wants credit for what it's done and so far feels it hasn't had that credit and you know the breakthrough that has that has happened china feels in many ways is due to its efforts it points to the fact that you're in the just concluded winter games the united states do not carry out any military exercises the north did not carry out any missile tests and that's precisely what china had been calling for in the run up to those games and certainly at his news conference on thursday the foreign minister was was sug

we got overtaken by china. we got overtaken by china. china is moving from a the manufacturing assembly economy to a knowledge-based economy. people here are always whining about china, democrats and republicans. they cheat on their currency. they treat their people poorly. they were horrible human rights record. the water and air quality is deplorable. but you know what they do? they invest in the growth of their own economy. china just invested or is investing $1 trillion to open up the chinese economy to 60 countries in europe, africa, asia and latin america. $1 trillion. they are positioning themselves for future economic growth and infrastructure bill that is $200 billion over 10 years. it is equivalent to the amount that american taxpayers finance for the rebuilding of iraq and afghanistan. sarah, we have a global vision. please admonish this president and this administration to do better to position the united states to compete because the united states can't compete effectively with any country in the world so long as they are at

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

action that could impact china's companies. >> thank you very much for us in china there. an important piece of this story. >>> the president announcing his next move on tariffs on twitter this morning writing, "secretary of commerce wilbur ross is speaking with representatives the european union about eliminating the tariffs they use against the usa. not fair to our farm aerers and citizens." for more on the fallout, we're joined by two guests, former commerce secretary and former ambassador to china gary locke and investor of international economics on the council on foreign relations. i'll start with you, ben there is a lot to unpack here. not the least of which japan, south korea, maybe others going to the wto saying, hey, you can't do this. what do you think the chances are that they're right >> and retaliatory tariffs so we're looking at the potential for a global trade war. of course, china is at the heart of the global steel industry over capacity but it's important to recognize that they only represent 2.9% of the u.s. steel imports globally and it's already subje

still relies on china. what makes me little bit uncomfortable is that when you see the two xi jinping with kim jong-un shaking hands what that conveys to me, it completely takes away the possibility that the united states with use preemptive force. what that will promise is chinese involvement backing the north koreans. then you have war between united states and china. >> is there any of this that china didn't see coming? >> i don't think so. i think china has been watching. the thing about president trump that sort of throws a wrench into the predictability, he's doing everything his own way. not really by the book. you got these tariffs between the united states and china putting pressure on china. he has maximum pressure campaign that's really working. everybody believes that president trump might actually use military force unlike the previous american presidents. you have china guessing. china doesn't want the united states going to war in north korea. you might have created a situation in which it's

china by lessed than 200 billion dollars and china pushed past the combined economies of north and south america in 2016. is being, the u.k. urged to stay as close to european union laws and regulations after brexit to prevent job losses. the one in comes with a split a year away and ahead of the summit earlier this month which will kickstart talks to decide future relations. you officials are in london for talks at of the summit. they are urging the summit to pick up the pace. putinchoice would be that is still part of the market, part of the union. then most problems would be solved. that is not the wish of the u.k. governor. indy's biggest banks are being summoned for the fraud of a national. 31 lenders are two meet federal investigators later wednesday. the $2 billion fraud was disclosed and alleged to celebrity jewelers colluded with bank officials to give loan guarantees that are used overseas and indian lenders. the struggle to buy this company they are pulling out after a looks of the books raised by ability of the studio. them if she might buy it becomes available in bankruptcy.