in china football fans are also under tight control. the military and police will brook no demonstrations or any sign of trouble. but top row club is playing here today will go on some forty thousand people are expected to attend most clubs have far fewer fans the mood around the stadium is relaxed. former eintracht frankfurt player stefan lot of men is here with his interpreter they work for the chinese football association and often attend super league matches china's top tier league. letterman advisors the league and the national team china wants to rack up more successes the sooner the better. leadership here is very centrally controlled and that's true for football as well. for all of their own areas including in the economy where the chinese government allows a great deal of latitude and freedom that's also something football takes full advantage of. i think the past two years have seen an influx of top level coaches from around the world former viral eva crews and coach was there schmidt is now head coach of beijing su noble one.

south china sea. and it's allowed by international law. anyone who makes carping comments on this is trying to interfere in china's internal affairs. it's not worthy of refuting. the us and china are also battling over trade. an american delegation led by the us commerce secretary, wilbur ross, is in beijing this weekend to address what the united states says are unfair trade terms set by china. in just under two weeks, singapore plays host to the summit of the century. the meeting between president trump and north korea's kimjong—un. but tonight, american and chinese defence delegations are just departing from their dinner at the singapore presidential palace. on the menu — trade, security and the jostling of two superpowers for regional influence in the very heart of asia. karishma vaswani, bbc news, singapore. well, we can speak to our correspondent chris buckler who's in washington for us tonight. chris, we thought president trump was keen to improve relationships in the region particularly wi

exports to china is much smaller than china's exports to the u.s.. u.s. expert last year was abou $130 billion in produc china exported $500 billion in products for the u.s. so dollar for dollar we are thinking about and arbitrarily very bad situation so if president trump once mentioned that china should reduce the trade surplus $400 billion, that is probably a number that we will use as a reference of miss hypothetical analysis. for the record i don't want to get into a back-and- forth with my friend ha jiming but the numbers he gave on inflation coming out of the trade war and the u.s. at least in my opinion would be passed exaggerations. just as the scale is different on that issuei think the idea that there would be significant inflation in the u.s. is not something i would rely on. >> thank you. >> my name is joe i am with root -- new roles for global finance. this is very enlightening. i did want to ask adam in your 10 points of summary there was a gap that i had hoped you would discuss at some point which is what about the unintended consequences

this little guy is germany and this big guy is china. but which germany is reigning world football champion so in football it's the other way around. i know it's really you know i don't listen to us you know germany china you know i'm going to the. show because youth program and training methods enjoy an excellent reputation around the world the city of can shine is eager to learn. flood rishon his colleagues are training the youngsters and their coaches. but it's not always straightforward. about the one they've been taught your subconscious on the one. everyone knows that germany plays football at a very high level. but we can't just transfer their system to can charm. that wouldn't work. because we have to adopt but the germans also have to adapt a little to realities hearing can shine to a whole host of also as you can be when. the germans try to awaken enthusiasm for football by making it fun. it's a novel approach in a country that emphasizes discipline hard work. but the shocker representatives believe they're on the right path. w

is concerned china as be welcoming the summit meeting all along china has been promoting us and d p r k to sit down to talk with each other rather than threatening with each other against each other with weapons including nuclear weapons or for china it's a good development it's a good news for china and for the rest of the world we just hope the media will and in great results and what are those great results likely to be. what we do not know we do not know what will china like this great result of the need for china hand for the rest of the world. for china and for the region and for the world what matters most is peace and stability no more warmongering no more threatening with each other no war comparing which party has the larger pattern on his desk for example to press the world does not need the specter of nuclear war on the korean peninsula and i hope president don trump will calm down and really think it out and get us out of peace so if i'm going to jump through how many hans are we going war what little we know about these two leaders and the way they behave do you think

and europe say china breaks the rules limits investment and still sticks knology china and europe say the u.s. breaks the rules slapping tariffs on their goods and the u.s.'s china and europe also have their own tower if sense so they are to blame so who really america responsibility for this standoff. well at least we all agree the someone else is to be blamed seems to be the common denominator basically you know i mean china has been in many ways a good partner for the europeans but the kind of technology grab that happened with . the request of technology transfers for european companies to china the kind of from lopsidedness of using a market for getting europeans into the market i think they china possibly actually has overplayed its card so i think facility munster and the european commission on the member states have a good reason to challenge china on this one and i guess that the reason the us is out of beijing indicate that china is moving and opening up some sectors faster than many people believe when it comes to u.s. china frankly there is there is nothing we can anticipa

-china tech dispute. it is interesting what the ,revious speaker talked about in general, china has failed on the social front. china has this gigantic social company on by tencent which is really not penetrated in western markets at all. it's had some good success in markets in the developing world, but in reality, even notice huge, dominant in china, just the way facebook is dominant in the u.s., it has not successfully penetrated other developed markets. haidi: that's not unusual, though is it? you rarely see cross-border success being replicated. we seeing that would take companies in japan that of struggle with that. isn't an issue of government regulation, censorship preventing that ecosystem from being a global one? david: there is real caution about chinese social companies operating outside of china. i think it is unfortunately the case that almost whenever a chinese tech company operates outside of china, at least some leaders of countries in business competitors and users worry about the chines

and china. these are some of the companies that analysts and professional investors say are very much exposed. apple gets its revenue from china and is arguably the most successful tech firm and want to expand. general motors and tesla planning a big expansion in china, targeting customers. they closed off their lows. alphabet, the parent company of google, with some exposure. a lot of the other fangs, netflix,t the facebook, not quite as exposed. let's go to the big map is because there were some big news indeed. netflix hitting the $400 mark. $490.ld go to another one came in and said it could go to $500. that appears to be igniting a buying frenzy. cely.t there is a lot of positive outlook. therapeutics is a gene therapy an astonishingly positive result on its latest treatment. its rival also among for the ride higher. let's go into the bloomberg because we are going to revisit this russell 2000 record story. finds where you can these charts because these stocks, which started a rise and had

and europe say china breaks the rules limits investment and still sticks knology china and europe say the u.s. breaks the rules slapping tariffs on their goods and the u.s.'s china and europe also have their own tower of sense so they are to blame so who really america responsibility for this standoff. well at least we all agree that someone else has to be blamed seems to be the common denominator basically you know i mean china has been in many ways a good partner for the european spot the kind of technology grab that happened with . the requests of technology transfers for european companies to china the kind of for lopsidedness of using a market for getting europeans into the market i think they china possibly actually has overplayed its card so i think facility munster and the european commission on the member states have a good reason to challenge china on this one and i guess that the reason the us is out of beijing indicate that china is moving and opening up some sectors faster than many people believe when it comes to u.s. china frankly there is there is nothing we can antici

and the south china sea, china has de facto control over the south china sea. every american vessel that sails through there is shadowed by a chinese vessel. that's portrayed to the chinese that we're there only at their deference. we don't yet, to my knowledge, have any effective agreements to carve out space for the philippines, for the people in the philippines to access their traditional fishing areas. same with vietnam, same with brunei, same with the other nations whose shores are washed by the south china sea. this is not a problem that's going to be solved. it's gotta be a matter to be managed. because xi jinping is now a dictator for life. and he has adopted personally this mantra of indisputed historical sovereignty, that means he cannot compromise on this. so we need to find a better way to manage this. on the greater topic that comes out of this, of countering gray zone challenges, same thing with the russian little green men in ukraine after they annexed crimea and all these things. pushing back symetrically on this, it's got a lot of disadvantages

and for the 20 jews i've been going to china, china has always been the world's largest developing economy or its been a merging original power. later it became a major or even great power that this is the first time i heard superpower. superpower to meet -- >> is there a specific phrase in mandarin or they say superpower? >> they say superpower. they get it. i think it signals basically the lease now in china they have not only the capability but the intent to be able to play alongside the united states in terms of shaping the rules of the road. i think it is a real reflection of xi jinping's third revolution because that is at the heart of the third revolution, reclamation of the position of centrality on the global stage for china, the great rejuvenation of the chinese nation. so to put in that historical context, if you look back at biopsy done nike 49, 1950, the first revolution -- mao zedg, or hated the china communist party state. as xi jinping says that's when china stood up. then you had deng xiaoping in reform of opening up, china's economy began to take on attributes of the mark

has approached this what they're made in china twenty twenty five has been let's cooperate china says you know they're going to invest in new technology research technological breakthroughs they want to bring american companies in on it they want to do it in a win win way where both of us american companies and chinese companies can get richer in the process and we'll make new scientific breakthroughs but it seems like the you know punishing china for made in china twenty twenty five is going to have the opposite effect it's not going to be win win it's going to be lose lose we're going to lose out china's going to lose out but how much is china really going to lose out let's keep in mind because at this point china's got the whole world to trade with you know you know they're not exactly dependent on the united states to keep their economy with its not holding it world in their hand kaleb absolutely you're right i want to quick move we only got about a minute left alex caleb mentioned energy how do you think this might impact the energy industry us energy and industry you cover this

he found that china was stealing with $50 billion of -- china -- i understand china. i don't even particularly fault them because they are acting in their national interest. maybe we should do the same thing because china is determined to gain u.s. market share in technological advances. they'll stop at nothing to get. it i agree with we should work with our allies. they negotiated agreements with south korea, brazil, argentina and australia. some of my colleagues are concerned rightly about canada and mexico being covered by the tariffs. i share that concern, but gutting it is not the way to fix it. i encourage my colleagues to -- i spoke to ambassador lighthizer again, we are in a holding pattern until mexico's elections, but soon after that nafta talks will pick up. steel and aluminum tariffs will be part of the dialogue as they should be. canada and mexico has such close proximity to our market, they are targets for chinese. we have to guard against that where the tariffs won't be effective. before my final remarks. i hope that -- canada and mexico is an important

china, made in china 2025, this is extraordinary. this is a policy which came out with great fanfare. it's referenced repeatedly in different government documents as you can find and now there are reports out in the press that chinese themselves are suppressing that as a way of not letting you know that the intent of that report is to put forward a set of plans that would capture 70% of the production of the emerging industries of the future within seven years. extraordinary. as president trump has said, if we lose the industries of the future, we won't have a future. so some of you at least have the chart as a handout, and it will be up on the web available to you, but let me just now walk through what the chart looks like. it's a standard matrix where you have these six categories of economic aggression. this is the industrial policy of china. what distinguishes china from the rest of the world, most of the rest of the world, is that it's a nonmarket economy. it's a heavily state-driven economy. so in the second column here, one go

there on china's border, china is expanding. china is trying to influence our alliances, and so that's why i don't trust china. am i wrong about that? >> i think that china has an important role to play in helping rebuild north korea because very consistent with president trump's approach to foreign policy is that we have a goal of negotiating concessions as it relates to a nuclear program and bringing the korean peninsula together, but president trump isn't looking to sit down at that table and all of a sudden assume all of the huge infrastructure costs and what it is going to take to rebuild their nation that's been devastated. mark: talking about south korea and japan kicking in money to help? >> i think it's certainly important for more nations in that region to be taking a leadership role. we see it in other challenges that we face. middle east and elsewhere, where nations in that region of the country taking on a leadership role in rebuilding their region and working with their neighbors and not making it the united states

>> in china. >> yeah. why because china is intransient. if you saw something, qualcomm and any company that has been trying to do business there that hasn't been able to, that's the signal the president is saying they're walking back the trade deficit with us. maybe we can come to terms but, you know, i think everybody -- i think the president believes they're paper tired. as far as he's concerned, china rallied last night how much money do the chinese have to be able to keep their market up $5 trillion from the top i hear they're going to sell treasuries do we not think that the 30-year -- do you think the 30-year couldn't handle it we need to curve inflected i think the president is betting that they -- >> when you say you would welcome them skipping an auction or showing up light at an auction? >> oh, yeah. >> because we have the cushion. >> yeah. they can't they can't they have to recycle the dollars. they can't afford it they were $500 billion ten years ago. now they're $1 trillion. i've got all the numbers. >> how about a massive dev

it has nothing to do with china. china is being punished by 201 and 301 and we are punishing our allies by abusing a national security section called to 32. i don't know what to s say. let me just say, let me finish one more thing before yield. i will gladly yield. people in our nation are being hurt today. you saw the harley-davidson issue where they're going to move some of the jobs overseas to avoid these tariffs, other companies are going to be doing the same. right now farmers are being hurt around our country. on july 1 a whole another set of countermeasures is coming in from other countries. on july the sixth there will be home another set of countermeasures coming in and i just want the record to be clear, the senator from ohio, my friend, won't even allow us to vote because he disagrees with this policy and he can disagree vote against it. he's not even allowing us to vote on something that could even stop the pain being inflicted on our country by a trade policy that is not coherent, that's being made up on

china has criticized u.s. president donald trump for quote playing the disgraceful role of global economic disruptor it comes after both countries impose twenty five percent tariffs on fifty billion dollars worth of each other's goods on friday the move as investors and economists worried that the world's two largest economies are heading for a full blown trade war lords movie reports now from beijing. tit for tat that's one way to describe the first shot in what's brewing to be a tariff war between the world's two largest economies the us struck first with a twenty five percent tax on certain chinese imports worth fifty billion dollars china's counterpunch an announcement that six hundred fifty nine types of u.s. goods also worth fifty billion dollars will be subject to tariffs the first round comes into effect on the sixth of july and affects products ranging from soybean to seafood to costs there china feels like it's been the strong it's at the strongest point that it's been in hundreds of years it feels l

and china. donald trump coming out with yet an additional $200 billion of tariffs on chinese goods after raising it 10% p.m. you can see the dow down one point 15%, six days down, six days in a row. the s&p 500 down .4%, the lowest since the start of this month. the nasdaq also down about .3% but it was pretty much a mild across the board. we were at lower levels than these numbers you are seeing here, but we did repair some of those losses. taking a look at the flight to polity, the flight to safety, the bloomberg dollar index rose about .2%. by about twoailed basis points. it had been as low as 2.85%. thathad been higher, but retraced a little bit and the japanese yen, we did see that at 09. haidi: it feels like this is a week that investors have set up and started paying attention, perhaps the commendation of not just rhetoric but substance to the mix, doubling down tariffs. taking a look at asia, it's not looking too bad. futures looking mixed, trading underway in new zealand, mild losses th

and china and what china's playbook is. where this leverage is and how much control it has over the economy and what we are seeing is the communist party, for all the tools it has at its disposal, is still mortal, and very much looking at uncertainty and volatility rippling through its markets as much as the u.s. is. it has a much better control over information flows, the extent of it, and how much it will last. yvonne: are you saying that is likely that china could back down? we've talked about it ad nauseam about the options they have, whether it's restricting m&a deals, delaying licenses, boycotting u.s. goods, even using the yuan and treasury holdings as a trade weapon. don't they still have some letters to paul here -- levers to pull here? jude: we have to look at it realistically so it doesn't shoot itself in the foot. treasuries is a choice. that's not u.s. specific. that's just a measure to buffer some of the costs of the u.s.-china trade war. you can turn to qualitative measures. china has to be quite careful abou

and china. the trump administration maintained a hard-line, mike pompeo calling the claims of openness in beijing a joke. >> opec considers a compromise output plan to head off an iranian and billion. >> and they are like casinos. how it could of the anti-. >>

wants less confrontation with china. china orders news outlets not to mention made in china 2025. deeper into a bear market, is a trait or the economy? deutsche bank touches a record intraday l, the longest losing streak ever. managers warn of impending market doom. david: welcome to "bloomberg daybreak." great to have you back. alix: i made the plane with two minutes to spare. david: you brought caution with you. alix: i guess i did. david: mr. carney saying tariffs aren't so bad, but it may affect business confidence. alix: it is cautious carney again. how many rate hikes this time? in the markets, caution when it comes to u.s. equities. european stocks are off the lows of the session. as the yenis lower continues to be the safe haven of choice, but not huge momentum in the currency market, and less it is the new zealand dollar, and you are getting killed. hear did in europe. crude steeper. opec was not front and center. everybody seemed to brush off the trade stuff. david: what about iran? the u.s. is putting the screws on iran. alix: it's like walking on a tight rope. you coul

by people's republic of china. this is simply acquiring the technologies and intellectual property from not just the united states, but from the rest of the world. and at the same time, capture the emerging high-tech industries that will drive future growth and advancements in the defense industry. and what's important about this last column here. this is the made in china 2025 industry. plus, the industries identified in medium to long range planning 2006 document. it's things like vehicles, robotics, high-tech shipping. there is extreme manufacturing, which is the nanotechnology at one end, but also large facilities bigger than anything you could see or imagine. china is trying to dominate all of this. now, how do they go about it? this is where we get to the 50 different ways. there's over 50 different things here. if you look at the chart, you can't see it from where you're sitting, but there's a little y for yes in each one of the cells. so, for example, there's some things that china does, which is only used

south china sea. thousands of palestinians attend the funeral of a nurse killed by israeli gunfire. her mother says she was trying to help injured protestors in gaza. translation: this is what she was resisting with. on what basis did the soldier kill her? she has been targeted since the first day of the protests. after decades of communist rule in cuba, could the new president be about to bring in significant changes to the way the country is run? hello and welcome to bbc news. finance ministers from six of the g7 countries meeting in canada have expressed "unanimous concern and disappointment" at america's new tariffs on steel and aluminium imports. they've warned washington that there are only days left to avoid a trade war. lebo diseko reports. as family photos go, this looked pretty awkward for one member. us treasury secretary steve mnuchin, facing his counterparts from some of america's closest allies, united in their frustration at the us‘ latest tariffs. over the course of the last couple o

and china. joining us now to dig into the latest on this digital trade war is president leland miller. what are your thoughts in terms of the number? 34 billion dollars the not less than $50 billion that the white house through a china. pposes,ntents a i think you will get the 34 and you might get the 50, but that is a major escalation. you have much more politically sensitive areas you will have to hit. if the chinese do not support hit 150,s. goods to that means you have to hit them elsewhere. since china has barriers, the one thing they would put in next would have to be louder, meaner and this will create a major escalation. questions calls into the desire on beijing's part. do they really want to? do they want this to happen? they are not trying to push the envelope any more than trump is. understands that it has to respond or they will look week. weak. a huge victory for china. it is almost a best case scenario. they are hoping they do not go thehe president -- goad president. if the presi

, china, china go to consumer product conferences, everyone was a china play, every company a china play now it's under the rug and it's a.i. plays including starbucks longer term, it plays out and works, and i'm excited for right now, there's a lot of fog, of course >> lamar, when you said, you know, focussed on small caps and small caps rallied today, they are not the ones necessarily who are out there the last couple years saying this is our china, you know, china is basically bailing out the growth strategy, right? >> that's exactly right. the bulk of our portfolio is focused on the u.s while they have -- some lagged over the last couple years because they were not able to get out there and start, you know, going raw, raw, all about china, right now, they are looking to be positioned well in the event there is, you know, some further escalation. >> and, lamar, in the u.s., the only thing i wonder because you know small caps better than anybody, everybody trades them, look, they don't have the international exposure u.s. economy, again, goldman second quarter 4% gdp number looks great

china trade tensions? it's a great question, and it speaks to the heart of the issue, one of the key things we have been writing about from our strategy perspective. you've got this dichotomy between asia on his own looking pretty good. is hard to make a credible bayer case against china on a purely china specific perspective. of course, when you leave in the global issues, whether it's trade, other geopolitical than that is where the crosscurrents and difficulties come in. our sense here is that you want to be looking at china from the alpha stop taking perspective. whichen the extent to your concerns about the global backdrop, plus higher u.s. interest rates and volatility. you might want to have some brought index level hedges, could be china specific. i think that's how you want to play it. focus on the specific china stories that look attractive on their own merit, and to the extent you believe it is important to hedge global risk, do so at the index level. rishaad: tim, please stay with us. we're goi

imported goods from china in the amount of five hundred billion dollars and china imported u.s. goods in the amount of one hundred thirty billion dollars so if you look at those numbers the possibilities of china at first glance seem to be limited if you look at tariffs but having that said china did mention that they also could take quality of steps or not just quantitative steps what they mean is that is that for example they could start a boy called for u.s. products that could disrupt the supply chains for example for the high tech industries and that could turn out to have unintended consequences for u.s. corporations and also for the u.s. economy talking about the consequences to dell plummeted for the sixth consecutive day already what are the sentiments on the ground what are you hearing. so far representatives from the ministration call it a trade dispute would not trade war and there is still hope on wall street that all those wearable threats are actually part of the negotiation strategy and that at the end we will not see those terrorists being implemented to but the

to china. our sources say the treasury department will make an announcement at the end of this week with more details. but critics of our current trade policy say that china has been stealing between 30-$50 billion worth of hard ip every year for the past decade. that number comes from a u.s. international trade commission report. more recent number from the commission on the theft of american intellectual property, this report commissioned last year has a much higher number stating up to $600 billion in ip theft is possible. so experts say the motivation to level the playing field is undersndable, but what gets complicated is that so many american businesses are interconnected. for example, here are seven big tech american companies that source half of their products and components from china. they are names you know well, they are names that are in a lot of tech portfolios, hp, ibm, dell, cisco, unisys, microsoft, intel. s&p 500 tech companies as a group get about 60% of their revenues from o

investment into china. we will have to see the final list and how china responds to get a gauge of how severe we are heading into the next stage of trade tensions. haidi: thank you so much. reaction,china's potential reaction. tom mackenzie is in beijing. have we had any official response yet? heard from a researcher at the ministry of commerce saying retaliatory measures are likely. other sources told us those will be put in place quickly once we get the official decision from washington. they are likely to retaliate in kind. those agreements they have been trying to hammer out with commerce secretary ross in beijing and washington on increasing imports of agricultural products will be put on hold. china said it wants to avoid a trade war, but is under pressure to stand up to what it says is u.s. aggression. there was a state run media is saying piece china should reach out to other economies to coordinate a response to this aggressive stance on trade from the trump administration. anything of we read sign

and china. seven of those companies received those exclusions. we also hear from the commerce department they will also be denying 8-6 steel exclusion request -- 56 steel exclusion requests. more on those lines coming through here. in the meantime, let's get the first word news. reporter: thank you. in new york, crude place -- prices climbed the most in more than a week as they worked behind closed doors to heal a production limit. crude inventories were falling last week by more than double the average estimate.opec prepares to meet indiana friday, the saudi ministers indicated they are moving closer to agreement. toward a converging that not only the stakeholders would enjoy, countries, and companies, but also consumers. reporter: president trump has reversed course on his policy of separating immigrant children from parents who cross the u.s. border illegally. he signed an executive order directing homeland security to detain families together and house them on military bases. trump has been

and china today and this underscores how dedicated they are to continue the principles of communism around the world today china is the world's second-largest economy of $12 trillion and rapidly build up its military and charted plans for economic dominance in the made in china 2025 is a plan that poses a threat to american leadership in technology and social endeavors. i used to live there and this is real and they are one belt one road initiative is the largest info structure investment since the marshall plan after world war ii. at the same time the chinese government commitment to total control of its people is strengthening at an ever increasing rate today and i was just over there and in march of this year president xi consolidated power and became president for life just like mao. in april, the chinese government continued its crackdown on christianity by banning online bible sales and today the bible is the only major religious text that you cannot buy commercially in the people's republic of china and that's unacceptable in addition the chinese government is creating a soci

-china trade front. the amchan china chairman joining us. you can watch us live and catch .p with past interviews this is for bloomberg subscribers only. make sure to check it out at tv . this is bloomberg. ♪ julie: a quick check of the latest business flash headlines. singapore's ocbc aims to double profits from china's greater bay by 2023. the bank wants to boost technology spending and stuff in the area income that in hong kong, macau, and nearby cities. foreign banks are expanding their presence. beijing wants economic output from the region to exceed that of greater tokyo, new york, and san francisco. the indian government wants to -- the relevant department is said to be finalizing the size of the slice to be offered this financial year two speed up asset sales after a disastrous attempt to find a buyer for air india. prime minister modi aims to raise money from asset sales. the ceo of a bank is going on leave. the head of the banks insurance unit will step into the top post. andvacates her position investigates allegations about

it's not one size fits all, and it's not just china. it may ultimately be china just china. and how we figure out -- and this again goes beyond. how we figure out to put pressure on our allies is very different from how we figure out putting restrictions on our potential adversaries. we have to do both. >> we had -- can you pass the microphone? oh, you've got it. we had one on this side as well. if i was israel, i'd be nervous about chinese transfers to iran. >> hi, thank you. i'm a reporter at the capitol forum. i wanted to touch on the mitigations that you had mentioned before. i'm wondering, is it interested in these behavioral remedies, i'm thinking fire walls, for example, and how that might affect some of these deals. >> so i'm sorry. the mitigations -- they're more interested in what aspect of mitigation? >> i suppose if you think they're going to be more or less interested in going forward with a deal if there's a firewall or something. >> oh, in terms of instead of blocking it, doing mitigation that sort of gets to a yes. >> yes. >> well, that was always our princip

south china sea. thousands of palestinians attend the funeral of a nurse killed by israeli gunfire. her mother says she was trying to help injured protestors in gaza. translation: this is what she was resisting with. on what basis did the soldier kill her? she has been targeted since the first day of the protests. and world cup countdown — we travel to the russian city of kazan as it prepares to welcome fans and celebrate ramadan. hello, and welcome to bbc news. finance ministers from six of the g7 countries meeting in canada have expressed "unanimous concern and disappointment" at america's new tariffs on steel and aluminium imports. they've warned washington that there are only days left to avoid a trade war. in tough words exchanged after the meeting, the canadian finance minister said he was very disappointed. his american counterpart, steve mnuchin, insisted the us doesn't want to abandon its leadership of the world economy. what did we ask secretary, the treasury secretary, to do? we said that

the china u.s. about face from a couple of days ago when it says it's when it said it was going to go ahead and impose tariffs on chinese goods when it had said that they were going to put this on hold so it will leave u.s. officials as well as chinese officials without much certainty that what they work on this weekend is going to have much effect florence thank you. now the israeli military says its jets have targeted ten sites belonging to hamas in the gaza strip and just two munition manufacturing and storage sites were hit earlier israel said it intercepted at least one rocket fired from gaza over the city of steroids rocket sarin have been activated in southern israeli areas bordering the gaza strip. well earlier on saturday thousands of people attended the funeral of a young palestinian medics shot dead by israeli forces at the gaza border on friday twenty one year old on the job and volunteering since the weekly protest began in march but since then israeli soldiers have killed at least one

we had china in a bear market. jpmorgan says it does not look like a day 15 again given that china is not witnessing a commodity meltdown. but the yuan is taking the punches. one month implied volatility is climbing, suggesting that traders have not cut out in this slump. crude oil at $72 a barrel. exports rose to an expert -- to a record high. yuan will it till it is not only important in china. now let's get some more on our markets live macro strategist. i love it. a trump put. that was being kicked around on the blog this morning. >> absolutely. there is this general idea, when reactioncessive equity to trump policy, he does seem to soften his town or rollback his original ideas. we saw that this week in terms of the china technology push. even though larry kudlow did rivers that, trump himself softened his stance as equities slumped. this idea going into the midterm elections that trump does not want equities dying on the year. whenever he goes to bearish in equity markets, -- too bearish in equity markets, he

and china, it's all about the made in china 2025 program, it's about china moving high-tech. one area where china is weak is semiconductors that's the one area where america is strong and one area where the american administration is concerned that it could lose out to china >> what's the play then? you would invest in u.s. semiconductor companies because of this or do they say you want to do this, we'll do after that market >> we think the focus of the action from today's tariff is semiconductors we see a number of things happening. around the world semiconductor ecosystems will develop. just as we had internet ecosystems, and software ecosystems in the u.s. you will get intel and nvidia buying up lots of semiconductor stocks china is pumping billions into its own semiconductor industry that means smaller u.s. chip stocks we think that will consolidate. >> what does that mean in terms of companies that will be winners in the chinese market. some companies have come to market with their own chips. where do you see the winners will it be brand-new companies making semiconducto

looking to expand outside of china. >> amazon does not have a great china strategy. markets they are focusing on our southeast asia and indonesia. and google. they are looking other countries in southeast asia. india's a big focus. google has talked a lot about their efforts and we've seen them chip away at returning to mainland china and they recently had a partnership with tencent. emily: what is your take on this, isaac? >> i think the move is important, mostly on symbolic levels. the price is roughly less than 1% of the company's worth. but really what it is is google trying to say to beijing, listen, we want to come back into china, we want to do business with chinese companies. and so they picked relatively a nonsensitive company to do it with, e-commerce is less of an information business, than search engine, which has caused google problems in china in the first place. emily: i was in beijing when google left the country and there has been no sign of a potential return, so could this be more about being back into the good graces of the chinese government than

ftse china up .2%. the end of the first half of the year, the first quarter, and it has been a harrowing part of it especially emerging markets, stocks on track for their worst quarter since october 2015. ♪ . ♪ rishaad: there we go. of the quarter and the first half of 2018. we have a lot on her plate, emerging markets versus the of uglytates, a tale ducklings versus wants with emerging-market equities at the lowest level in 10 months. mind you we have swans in the shape of the nasdaq, the s&p, continuing their lurch upward. the hang seng could be down today. fix ae a yuan in focus, a short while ago, 6.61, the lowest since december. meanwhile, oil prices rise, pressure on credit markets in china, then as we have been reporting, a lot of pressure on equity markets too. let's get to the hong kong open. here is sophie kamaruddin. >> the mood in hong kong, hang seng little changed. h-share index leaning at the start of the session -- swinging at the start of the session. they could be looking at a seve