in china the ballpark statistic. it is definitely part of this process of chinese search for meaning with the collapse of the thoughts. buddhism is large. the other question down front? >> yes, sir. >> wait for the mic if you could. >> this may be a follow-up to the question just asked but i am wondering if there is increasing pressure from chinese business men to perhaps enter into joint venturing, if you will, with the american business to help their economy and likewise is there more entrance in our country in american businesses. >> the trading relationship between our countries has been started to become robust in the 1980s. it really took off in the 1990s. it exploded after 2001. that said, the business community in america is split on how it views china. in the past, it used to be after the collapse of the soviet union and tinman square it was the main thing that kept the relationship on an even keel. now, back to the question if you are a high technology manufacturer and you want to do business in china. the

as regards china, the u.s. pursued a two-pronged strategy, seeking to engage china across all domains, economic in particular, but diplomatic and others, and at the same time, working at our allies and partners in maintaining our own forces in the region to preserve a balance of power that was favorable to our interests and the security of our allies. the goals of that policy were to deter thetability, to possibility of aggression, while waiting for engagement to work its magic. the u.s. hoped in effect to ,btain and to transform china to encourage its leaders to see their interests as lying in the preservation of that order, and to set in motion processes that would lead eventually to the economic and political liberalization of that country. as in europe, so also in asia. our ultimate aim was to build a region whole and free and open -- an open, liberal region. it has become important -- a -- apparent that this has not worked. china is far stronger, far richer, but it is more oppressive domestically than at a

going to china, enabling us to do better in china. china has a consumption upgrade. millennial's becoming more globalized interviews, and taste , and in the way they consume. way for alibaba to take advantage of it. caroline: what sort of goods are we talking about? i am thinking a crackdown on luxury items will hit the french juggernauts. what will be sold in the u.s. to china? what we seeing with platforms is that you see apparel, fashion goods, mass-market price points. you see beauty products, health ,are products, gadgets electronics, a variety of things are doing well in china that were originally designed in the u.s.. they may have been manufactured in china, but were designed in branded in the u.s.. caroline: let's talk about another of your key investments, xiaomi. the way and having very powerful smartphones at a cheap price point. it seems that the competition is hot at home. when you see the company going? hans: four xiaomi, two fronts. they are the number two and number three in india now. initially to buy a phone in india, you had to go online to buy xi

the eu is already china's main trading partner, and china is the eu's second-biggest after the u.s. the trade comes to more than $1 million a day. the mantle ofn facilitating global trade. currently, finland's board members say they may not share the same values, that we share the goal of free trade. xi jinping has said that a prosperous and stable europe is conducive to the global economy. he has made statements like this, especially since the u.k. voted to leave the european union. haidi: this is not a bilateral relationship we have necessarily spend a lot of time looking at in the past. tell me about this relationship between finland and china. xi jinping's visit is a chance for china to resurface a relationship between china and the nordic reason. this is the first visit in my than 20 years, the last time was 1995. he will meet with finland's president. on this bloomberg chart, we can see the white line that shows finland's exports to china. it just crossed over with the blue line, which is china's exports to finland. posted a, finland trade surplus with china last 2002.the firs

situation --y need some time for china a tough situation. they need some time for china. germany has a weak position in terms of the nato, how much they should be contributing. south korea, another huge trade surplus against the u.s. i would imagine that germany would be in the spotlight. shery: thank you so much for joining us, head chief asian economist. and our currency editor, thank you so much. the u.s. backs away from enabling china. >> it is 7:30 here in hong kong, happy thursday. it is easter weekend. we are 30 minutes away from asia's first major market open. friday, 7:30our p.m. wednesday here in new york where markets closed down, the s&p 500 down about 1/3 of a percentage. i am ramy inocencio in new york. shery: i am shery ahn in hong kong, you're watching "daybreak asia." let's get first word news with courtney collins. >> president trump says he will not brand china currency manipulator. he is changing a core campaign promise and blames a strong u.s. dollar for changing competitiveness. u.s. 10 year bond yields and the dollar fell after the report saying the

a view from china. in other news, federal reserve officials basically have given a stronger signal that they may shift away from the post financial crisis investment policy. they also said they see considerable uncertainty about the effects of a possible stimulus from the donald trump administration. but they said they do not know how quickly there will be phasing out of investments. the owner of krispy kreme will buy panera bread. that is as it expands its empire in the us market. panera has about 2000 bakery cafes in the us. fresh offerings appeal to health—conscious consumers. india. the next instalment of our week—long series looking at the property industry. first it was undeclared wealth, now it is property. india's prime minister is on a mission to stamp out illegal financial activities, as well as tax evasion. but while last year's tax bank caused a lot of inconvenience for many indians, a crackdown on real estate may actually help them. like many indianfamilies, estate may actually help the

the us has a big deficit with china. we'd like to see china open

for years the united states has looked at china china is the only country to curb the behey yor. instead china has chosen the bully south korea for defending itself from the north korean threat. china is doing all of this to stop defensive system. i welcome the trump administration on the issue of north korea. as these discussions continue the united states should be clear while we earnestly seek cooperation we do not seek such cooperation at the expense of our vital interest. we must not land not bargain over alliances with japan and south korea. as its behavior towards south korea indicates china has acted less like a responsible take holder and more like a bully. its rapid military modernization, provocations in the east modern sea signals an increasively pattern of behavior. despite efforts to rebalance u.s. policy has failed to adapt to the scale and velocity to rules based order. that failure is called into question the credibility of america's security commitments in the region. the new administration has an important opportunity. for example, i believe there is strong mer

china. again, this is not something that is isolated between south us against north korea. and all kinds of things going on. china has a pivotal role to play, probably more than we do. i look for to them having those negotiations on mar-a-lago this weekend. host: are those topics you believe they will address? guest: those will be really strong topics, i believe. korea talk about north launching another bomb, another test, this is destabilizing to the area. for a in a resolution system only focus at north korea. it is not aggressive. it is protecting our allies in south korea and the 28,000 troops we have there. host: if you want to join in on the conversation with our guest about north korea and other call in, post on .witter a guest: i think he wants to be mechanized in the world as a legitimate superpower. of asiane chair pacific affairs and there, was brought up who is trying to hurt north korea? i cannot think of anybody. you look at the attack on his half-brother in malaysia when that

and netflix trying to break into china. an incredibly contentious investor -- wells fargo investor meeting in seattle. more members narrowly surviving that shareholder vote. this is daybreak asia live from bloomberg's u.s. and asian headquarters. i am betty liu where it is just after 7:00. >> i am yvonne man. we will hold onto the big gaps we saw after the french election. we are talking about hitting records again on wall street. it seems earnings was a big driver today. earnings as well as the anticipation we will get and be delivered this immense tax reform which includes a big tax rate,he corporate that will bring the animals. back to the business world. we have seen it so many times, the anticipation of this is enough to drive the markets to these records we have seen. will we buy the rumor and sell the news? we will see, come tomorrow. yvonne: will it be just tax cuts, or permanent tax reforms that the democrats can side with? that will be key. let's see how asian markets are faring. wall street and new zealand, share

china continues a strategy to control the south china sea. i testified last year that china was militarizing this critical international waterway by building bases on seven chinese man-made islands in the disputed groups. despite subsequent chinese assurances at the highest levels that they would not militarize these bases, today they have these facilities that support long-range weapons and placement of radio towers, barracks for their troops. china's militarization of the south china sea is real. i am also not taking my eyes off of russia. they flew bomber missions near alaska. it was the first since 2014. russia continues to modernize exercises itsnd considerable conventional and nuclear forces in the pacific. so despite the region's four significant challenges, it is my last word to you that we strengthen alliances and partnerships, working with like-minded partners on shared security threats like north korea and isis is a key component of our regional strategy. the five bilateral treaty alliances, australia, japan the , republic of korea

of rules in china? >> less than 2% of the total market is pickup trucks. the with that, it is fourth-largest in the world become and what we have seen is the government is thinking about potentially changing some of the restrictions, which we think would grow the customer appeal for pickup trucks. a couple of provinces have done that already. andresearch we have done the initial orders we have on the new f-150, we think it is a huge opportunity to continue to build the ford brand in china. david: that was tom mackenzie's interview with ford ceo mark fields. let's look at the barriers to trade. is a former vice president for chrysler northeast danger -- northeast asia, bill russo. thank you for coming on the program. i want to get started with pickups in china. china 7-8 years. not once did i see a pickup truck. i wonder what your general thoughts are on that idea of introducing pickup trucks in china. >> everybody as looking for the next big thing, and you want to get there first, so what ford is doing

the south china sea. meanwhile, with a rebalanced policy, too heavy on rhetoric and too light on action, years of senseless defense cuts and now the disastrous decision to withdraw from the trans-pacific partnership, u.s. policy has failed to adapt to the scale and velocity of china's valchalleng. that failure as called into question the credibility of america's security commitments in the region. this committee has grown increasingly concerned about the erosion of america's conventional military overmatch as states like china and north korea develop advanced capabilities to counter our ability to project military power. while america's military remains the most powerful on earth, we must adapt to the new realities we face. we must think differently about forward basing and posture, logistics and mother-in-lawization and our joint force for the renewed reality of great power competition. specifically on the issue of munitions, this committee has heard testimony each year about the qualitative and quantita

many other countries manufacturing cheaper than china today, where wage rates are well below china. china is trying to move up the curve and saying with people come partner with us and build more effective and powerful -- >> peter brookes, as we try and deal with the brave new world where china is increasingly getting ahead, there's been a lot of things thrown out there as potential solutions to helping our domestic economy. one of them, of course, is the tax on any imports coming in. do you think that's a worthwhile policy to pursue? >> well, you have to take a look at that, china will resist that, of course. the president has to have a very matter of fact conversation with president xi about trade. i mean, as we were talking about the challenges of bringing back some manufacturing jobs -- trish: so what if he rejects it. peter, so what? fine, he resists it. i'm asking selfishly for our economy, is it the right thing, the best thing, what do you say peter kiernan? >> i think what we want to do is build a detente. these are two men that understand each other. donald trump wants to b

construction in china. china's first quarter gdp saw a record number of starts in terms of long-term construction, so we are looking ahead to that. we will see how we at it is happening in terms of japan's komatsu and other construction makers in asia. yvonne: ramy inocencio on caterpillar. caterpillar is doing well in yvonne: asian market set to extend gains. that euro hangs on to its biggest advance since june. he pboc wants to control asset bubbles. yvonne: sansone's new phone suffers troubles. tinted screens and dodgy wi-fi. toty: north korea threatens attack an american war threat -- war ship. yvonne: this is the second hour of "daybreak asia." in hong kong. in newi am betty liu york. it is just after it :00 p.m. we had a big rally in the u.s. and we had financials leading the way. looking quickly at the open here in japan, looks like it is opening slightly in the negative. certainly some other factors to watch in asia aside from lingering risk of fact from the french collection -- election. yvonne: th

china continues a strategy to control this t south china sea. i testified that china was militarized in this international waterway by building bases on seven chinese manmade islands. despite subsequent chinese assurances at the highest levels that they would not militarize that support long-range weapons. dmien's militarization is real. i'm also not taking my eyes off of russia. it is on success it days for the first time since 2014. russia continues to modernize and exercises conventional and nuclear forces in the pacific. despite the reasons for cig inform cant chal lens, since my last wort to you we strengthened alliances and partnerships chls working on shared security threats like north korea and isis is a key component of our regional strategy. our treaty alliances, japan, the republic of korea are joint force efforts. we have also advanced important partnerships they are viewed that has helped underwrite peace. there is more work to do. we must be ready to confront all challenges from a tradition of strength and with credible come back p

in the next few hours china's president xijinping in the next few hours china's president xi jinping will travel to the us for his first meeting with president trump. he had some very harsh words for china during his election campaign. countries have their opinions on how the talks should go. our correspondence took to the streets of washington and beijing to find out more. i , ivory, cooperation, maybe let us offer little bit of our debt to them. shall we go down here? president trump likes to talk tough on china. throughout the election he promised to bring jobs back to the us and put america first. on the other hand, xi jinping us and put america first. on the other hand, xijinping says us and put america first. on the other hand, xi jinping says that free trade is the answer and that this is what will bring jobs to china and the us. what do you think president trump should be saying to his chinese counterpart? i'm sorry. i apologise. i have been perhaps unfair to you. i'm one of those people who thinks we should make more here. they are not a true democracy. that's the worst thin

and china. i have not heard the trump administration saying anything regarding human rights in china until now. : that had not been included on the list of things the u.s. was likely to talk to the chinese about. obviously, the trade issues and north korea and the geopolitical questions, arms sales to taiwan by the u.s. and chinese ventures into the south china sea. the trump administration would like to achieve some agreements or some coming together on the other issues. oliver: i wonder if the events in syria brought that into focus as we deal with human rights and andss how the entire region our equivalence abroad will be going with that. equivalents abroad will be doing about that. mike: the easiest thing he can do is put up a chart of the chinese yuan. china has been doing its best to prop up the currency. that is the issue here. the chinese are not manipulating the currency to their advantage. they did. they are not doing that anymore. china has some issues they would like to settle with t

-china relations. they are expected to drop -- expected to address such issues like global trade, one china policy, and climate change. joining me is kevin rudd. he was the prime minister of australia from 2007 to 2010 and again in 2013. he now serves as the president president of the asia society

/china relationship. it was a phrase directly borrowed from the bay beijing had hoped to approach it. we will see exactly how that changes when the president lands and the two are set to meet for the very first time. president has said it will be a difficult conversation, of course, given all of the criticisms that each government has been lobbing at each other. we're told by the white house here's what's on the agenda. first and foremost, north korea, defuse ugg the situation with china's neighbor as it gears up its nuclear ambitions and continues to build up this program and fire test missiles of varying degrees. then, trade and tariffs. of course that has been a controversial talking point of the president. finally, the south china sea but we are told by the white house not to expect any resolutions on any of these issues in one day. this is merely establishing the relationship going forward. >>> president trump's first face to face meeting with president xi could be tense, as kayla noted. the presiden

china is the largest position. great to have you. you have a 29 in china. within that, you have a 5% holding in tencent. tell us why it is part of this fund. is it really the fact that it is part of so many assets of the tech industry, the auto industry, that makes this company see so much potential? patricia: absolutely. tencent has been holding in the portfolio for a while. its ability to continue to grow and also take advantage of monetization. there are two really strong platforms. one is the gaming site. -- side. they have been really good at growing that. the other is social networking with we chat, as you mentioned before. going networking also fast in china. their ability to increase the number of users and then monetize on it. we had seen -- we have seen how it has grown in the past three years. we do expect it to continue to grow as well. yvonne: it seems tencent is a must-have in a lot of these funds that you do have. in fact, one of your own that you manage. will that continue to support the tencent price been? >> i believe so. their ability to

i want to make one comment about china that we talk about this bilateral with china. but because of supply chains are trade with china isn't just china. its factory asia. some of the trade deficit with china is because just like with factory north america and europe as factory europe, they have factory asia. some parts and components go to china, assembled, come to us but because trade is measured in gross, not in value added terms, we end up with a really big deficit with china. it's quite a bit more complicated than that. >> one of the things about your question, what struck me is the fact that at least the draft that has been circular of what's going to be studied on these trade deficits, it really missed a whole bunch of factors that were being discussed here. it was all about different aspects of trade policy, and some of these broader issues which have a bigger impact wasn't even in the list of things to look at. one question i have is, is this going to be a real from the bottom up look at trade deficits and understand them in the sense it was discussed here, or

-china relationship. as we all know, donald trump, and some of his key advisers, have targeted china for a slew of what they characterize as unfair trade practices which they claim have stolen a million u.s. jobs. the rhetoric took something of a turn for the more dramatic, particularly after his election, when president-elect trump tabled the so-called one-china policy with the trade issues, perhaps as a bargaining chipping as part of a trade and economic negotiation. after some weeks that very tense turn in relations reached finally a sort of tenuous thaw, first with a call between president trump and president xi jinping of china, and most recently, of course, there was the first encounter, face-to-face, between the presidents at mar-a-lago on thursday and friday. so we're peeking right on the heels of that very important first meeting. of course there was changed quite dramatically in its complexion by the u.s. action in syria last week. we'll talk about the effect that had, among other things. in sho

apple is copying the designs of some of the social media apps in china, phones in china, because china is innovating beyond what even apple can do. apple is considered to be our most innovative company. it has to steal from china. caroline: sad, changeable, how can we see tech talent fostered in the united states for those who indeed grew up from the beginning in the united states? >> us immigrants want to come to america. we love america. this is the place to be. they would make americans compete, but as long as there is not a salary disadvantage, competition is good for the country. the problem was when you have cheap labor, indentured servitude, when people are tethered to their companies that , is when the problems occur. fix the problem and we fix the entire range of problems. caroline: it is not cheap labor that many people fuel has undone manufacturing. a lot of people feel it is automation. this is something you have written an awful lot about and put a lot of thought into. what about the answers to that? educating to ensure everyone can have a utopian view of the world rather

because we look to china to solve this problem for but also we want to integrate china into the international system and gave it a much higher rarity than disarming north korea. this is a result of bad and american policy and then trumped, whatever people might think of him, they put trumpet into with physical position. -- they put trump into a very difficult position. an andy warhol portrait of chairman mao has been sold at auction in hong kong, to an asian collector. but the piece didn't quite manage to generate the frenzied level of bidding that had been anticipated. our hong kong correspondent juliana liu was there. 80 million... 82 million... at 86 million... and selling for $86 million. sold! when the hammer came down, this iconic painting of chairman mao was sold for $11 million. it was the first time a warhol depiction of the chairman had been offered at a public auction on chinese soil. the price, though, unexpectedly fell short of its lowest estimate. the absolute star of the auction was this piece by andy warhol. but the sale disappointed, the painting failed to fetch as much money

the president saying china can stop north korea's nuclear program. what's the united states -- >> reporter: sorry having issues with the earpiece, but this tweet and the statement president trump gave with the "financial times" is certainly -- well it's not phasing the chinese, they put out a statement a few hours ago saying during the overnight hours secretary of state tillerson had a chat with china's top diplomat and not mentioning at all any specific conversations about north korea. we know that the united states believes that china holds the key to reigning in north korea. they believe that china has economic leverage over the country they have not utilized but the bush administration also relied without success on china to solve the north korea problem, which is why president trump is saying the united states is prepared to go it alone, which means they might be willing to go at it alone, he said he would be willing to sit down and have a hamburger with kim jong-un as he said during the election campaign. the probably least likely according to

this has offended china. it is india and the united states ganging up against china. that is one of the reasons why tensions are higher today than they we re tensions are higher today than they were a couple of years ago. and your anxieties as well, about kashmir, why we should be more concerned, even more concerned now than we have beenin even more concerned now than we have been in the past? the united states and india, going up against china, china has forged closer and closer to pakistan. it is a counter ganging up to pakistan. it is a counter ganging up against india, with china and pakistan. what has happened is that this economic commodore, as it is called, a massive corridor through disputed territory, as mandated by the united nations. the entire area of kashmir is disputed, as far as the united nations is concerned. so, driving a highway, and economic corridor through territory which is disputed, is something which obviously india is not happy about. he has been mentioned already in the last couple of minutes, you can't avoid that, we must talk about the uni

china coming to this feeling fairly confident after china back to the one china policy. but knowing trump can throw anything at them, wanting to be as prepared as possible. yvonne: let's bring in a china expert, chairman of the east asian institute live from singapore. it is interesting professor, we talk about the delegation that trump will be bringing at mar-a-lago like wrecks wilkerson -- rex tillerson and wilbur ross. who is it shaping foreign policy for trump? who is behind this right now? >> at this stage, no one is trying to shape anything. it is more a question of getting to know each other, the script has not been written out yet. but how to shape the script is what they are up to. the chinese are very experienced. xi jinping has been around for a ande, he knows the score, he knows what china wants. but he is not at all clear what president trump has in mind. i think he is quite right to say that he is prepared for anything, but not prepared to show too much of his hand. he wants to take it step by step because there is no rush. i do not think he is in any parti

activities in the south china sea. it's time for the u.s. to push back in the way we do sensitive operations in the pacific today. these operations should be regular, unpublicized, undertaken by discretion and should not be constrained by the promise of chinese good behavior on other issues. fifth and finally, we will not be able to tame chinese power without strengthening our friends and partners. there are diverse initiatives that are required for success and i'll flag a few. the united states should first begin to seriously think about working with its partners to replicate china's access and denial capabilities. the united states cannot afford to put off the aid and enhanced training to tehran for much longer as we out to urge military spending and reforming concepts of military operations. as a matter of national policy, we should affirm our strong support for trilateral corporation whether or not the united states is party to these activities. as kelly emphasized, we should not give up on the nations of southeast

it would call china's bluff, but it could be the beginning of a trade war with china. and so this is a crucial meeting for trump. >> yes. and this crucial meeting between the chinese leader and the american leader is going to be taking place at mar-a-lago. so in your view, does that create a better circumstance or perhaps a better venue so that they could see eye-to-eye, break brai bread, have a much more congenial meeting? >> trump's aides said he's most comfortable at mar-a-lago. i would argue this is the biggest meeting with his young presidency. china is a much more important economic issue for the united states, so hopefully it will work. it's a critical week for him. he's meeting with three foreign leaders. but president xi is very skilled at this and it will be interesting to see who comes out ahead so to speak after these talks. >> david, thanks so much. good to see you. >>> coming up, keeping up the fight. president trump vowing that the battle to repeal and oh place obamacare is far from over. so where does the fight over priority number one for the gop go fr

as he has with china? >> quite an interesting encounter. it has been a flat day on wall street. investors are fearing the worst, hoping for the best. trump has to confront a lot of complexities in this summit and investors fear he might do this in his usual quick-tempered, not quite diplomatic way. both countries have aced drawn interest -- have a strong interest in finding common ground. experts hope that the prospect of achieving this win-win installation might be more tempting than resentment. correspondent: investors also have their mind on economic data , what is coming out there? >> they goodness there is a little more than waiting on politicians every word. tomorrow wall street will pay it close attention to the u.s. data of the labor market and how it performed in march. next season the -- next week in the earnings season will start. did he morgan will be among the early birds. investors are already hoping for the next rally. brent: sophie in new york, thank you very much. the imf sees progress in

air china h-shares, likewise china southern and china eastern. the stocks that fell in yesterday's session 3% bank branch under suspicion of wrongdoing. it is believed to be in relation to fraudulent bank bills. this is a throwback that instrument used in china that can be sold on to banks and financial institutions. apparently the fraud is to the tune of 3 billion yuan and affects private clients and other banks. they are looking into that. they are setting up a working group to assist police. coming up, ambitions shifting in china, and we speak to the country's chairman live from the auto show. ♪ rishaad: there we go. , beautiful day in hong kong looking across victoria harbour. counting down to the start of the trading day in hong kong and shanghai and shenzhen, futures contracts suggesting a slight movement to the downside. asia-pacific stocks overall falling back, a rather unconvincing session for u.s. equities and at in the headlines after that snap election called by prime minister theresa may. i am rishaad salamat from bloomberg's asia

or, perhaps, it is the fact that the us has put on china to call ita that the us has put on china to call it a currency manipulator. either way, china is the one to watch you and the key ally that the us may have in solving this. staying with north korea — the russian president, vladimir putin, has called for the resumption of six—party international talks. he was speaking after talks in moscow with the japanese prime minister. both leaders called on all sides to show restraint. we call on all countries involved to refrain from military rhetoric. we see it as a girl a call for the resumption of six country talks. translation: president putin and i have agreed that japan and russia will continue to co—operate closely and appeal to north korea to fully comply with the un security council resolutions and avoid further provocative actions. also making news today — human rights officers in the philippines have discovered a secret lock—up cell in a police station in the capital, manila. it was hidden behind a bookshelf, where 11 people were being held. the undocumented prisoners

all that is china from the past. china of the last ten years and the next ten years, doesn't have any interest in dumping goods on the market. they are looking peacefully to moving to a more society. they see adjusting to the reality of the playbook. he questioned the one china policy. he backed off as he got better informed about the importance of that and the importance of the u.s.-china relationship. >> walk us through the matter of currency and currency manipulation. as i understand it, while the chinese currency is down, it's not down nearly as much as the japanese yen or the pound and has been appreciating recently? >> that's exactly right t. view that china is somehow manipulating its currency to the detriment of the u.s. or other markets is simply not true. if you want to point fingers, it's great u.s. allies like the japanese and the british who have seen 20, 25% depreciation of the currencies over the last year t. reality is the china is connected to a basket of currencies, the u.s. is the largest and gets

snooker player ding junhui is a superstar in china. in this documentary, we follow him with behind—the—scenes access as he plays in guangzhou at the china championship. if you want to know what it's like to be a sporting icon in a country with more than a billion people, ding junhui can tell you. there is the sense of national pride when you win a major tournament, there is the media attention — everyone wants to speak to you — a vast television audience watches every match to play. you get invited to glamorous events. your adoring friends are always thrilled to meet you. social media needs to be kept updated, with nearly 5 million people following you. there's also knowing that your success has helped spark a snooker revolution in china — the next generation of stars has been inspired to play because of you. and a new type of snooker luxury club is starting to open. it's the night before the start of the china championship. the world's top players and officials are gathering in the lobby of their hotel. they're waiting for t

have over china to push china to influence north korea? yes, the currency manipulator title that president trump is threatening to put over china. but there's reports that china hasn't been manipulating the yuan for a couple of years. president trump said i'll give you favorable trade status. figures came out about china's trade numbers, which were exceptional. >> yeah. i mean, economically speaking, china is doing okay. they had 6.9% gdp growth in the first quarter of 2017. it's unclear how much leverage the united states does hold over china. the fact is that china needs to export its manufactured goods to the united states. its biggest export market in order to make sure its economy is doing well. in that sense there is a little bit of leverage that the united states has. overall, we're not really sure exactly what the trump administration plans to do to get china to do what it wants to do, to use its economic leverage to force pyongyang to stop its nuclear weapons program. the president talking about defensive measures, anti-defense mi

, china here is key. what we've been seeing in the past few days is also a shift in president trump's attitude towards china, which in this situation is probably the only way and the only country and the only government that somehow has leeway on north korea because of north korea's economic dependence on china. and so probably a clear shift in the attitudes towards china, at the same time the strong message of u.s.'s resolve. although at this stage, it looks like the u.s. is trying to find a diplomatic solution, political solution, and not trying to es ska la ka la -- escalate the tensions too far. >> i wanted to ask you this, too, we all know, the leader is unpredictable. but there's the fear, too, that u.s. president donald trump is, as well. this is what worries people, there's the brink man ship and for many watching across the globe, they don't know what's going to happen, next. and they are worried that the u.s. will strike. >> right. and as you said, both leaders are unpredictable in different way

at least for china i know united claims it has the most nonstop flights from the u.s. to china. there is a blowback here. very potential blowback here because the chinese population feels that united was discriminating somehow against this passenger, that can be a severe problem. united also has the most nonstop flights to china from the u.s., among u.s. carriers. big problema real because in terms of going to secondary chinese cities, united really has that market right now, along with chinese carriers. when it comes to chinese competition, they have more service than the others. that was the top trending story on weibo. that is china's social media. people are trying to figure out if this was illegal. could we see a lawsuit coming out of this? i think it is probable you will see a lawsuit. there is a statement this afternoon from two law firms in chicago that say they are representing him in that he released a statement through those firms and wanted to thank people for their support. they also said he is in the hospital. i think that because we have these attorneys on the cas

president underscored the need for china to take steps to label -- to level the playing field for china to take steps to level the playing field for american workers for reciprocal market access. the two sides noted the urgency of the threat of north korea's weapons program. they reaffirmed their commitment to denuclearize the korean peninsula and fully implement un security council resolutions. they agreed to increase cooperation and work with international community to convince the dprk to peacefully was all the issue and abandon it -- resolve the issue and abandon illicit weapons programs. the two side came to discussion over maritime security. president trump noted the importance of adherence to international norms in the east and south china seas and previous statements on non-militarization. he also noted the importance of protecting human rights and other values deeply held by americans. the two presidents agreed to elevate existing bilateral talks to reflect the importance of making progress on issues. they established a new, high-level framework for negotiations. the u.s.-china

but i am concerned about china's bases in the south china sea. that complicates the anti access air, the now problem we face if we're called upon to conduct operations against china. >> great. i'll look forward to visiting with you in the classified setting. i yield back. thank you. >> mr. muscleton. >> thank you, mr. chairman. admiral, thank you very much for joining us here today. i was the gentleman who asked admiral -- vice chairman selva about the intermediate nuclear forces treaty, the treaty that president reagan signed in the mid 1980s with the soviet union. i wanted to start with that following on my colleague's questions. what has been our response to russia's violation of the treaty? >> sir, i don't know what our -- >> i'm not aware of a response, either. >> i know that someone brought it up. >> i'm not aware of any response, either. typically, when one party to a treaty violates the treaty, what do you try to do? you try to hold that party accountable. so there are other options than simply with drawing from the treaty ourselves, is t

tom: what this now is stephen roach as we are going china, china, china. we are taking a break tags -- take -- taking a break with -- it is killing savers. up to 20 years, but your expertise is in short-term savings. there is tons of money, there. how bad is the distortion? >> what we are finding now is that markets are not focused. the plumbing is working, that is a key component. people who were looking 2-d risk are going to be impacted greatly and what you are finding more is inflation rates are generally increasing, but admittedly not as high as bankers would like. tom: this is something that is a key question. help me with the rate of change of inflation. is inflation going to come up faster so that the real yield is lower in the coming years? jerome: one of the things you see even if it is subtle. when you look at that subtlety coming off the zero balance, you see as a favor, maybe not even noticing it. moving from a inflation rate --t is some 1% -- is sub 1% that is the key metric is that purchasing power over the next five years is going to be some

and china proper. in the first two years of the -- 2.5 years of the civil war, the nationalists appeared to have the upper hand. in spring of 1946, the nationalists went on the offensive in manchuria and drove the communists from its southern half, where one of china's main industrial centers was located. one that was wanted by the japanese and where the land was agriculturally productive. one of the things the soviets did was to take back war reparations. the nationalists also made advances in north china and even succeeded in driving the communists from their main base area from the communist capital. but in the summer of 1947, it begin to wane, and they were on the defensive. the important factors were the severe lack of ammunition, that curtailed their power. the economy was integrated as israel -- as a result of hyperinflation. the destruction of transport networks and food shortages, in part because international trade things had been upset by the second world war in east asia, which also affecte

china. —— shape president trump's china policy. last time president xi visited the us he made the point that companies like boeing earn good money in china. but with economic growth slowing at home, he can ill afford a trade war with his biggest market, and he laughed to offer help for us exports and jobs. he can from this investment in deprived areas of the united states and promised trump he is bringing jobs to the united states. he's using north korea as an excuse to deploy aggressive strategic military assets closed china. he's using assets closed china. he's if deploy aggressive strategic military assets closed china. he's if mr she can then head off a trade war and temper mr trump's tweets on north korea, he'll call this florida summita triumph. korea, he'll call this florida summit a triumph. carrie gracie, bbc news. the highest court in england and wales has ruled that any parent who takes their child out of school during term time could be fined, or even face prosecution. a man from the isle of wight had argued he could ta

there is no doubt that china has greater leveraged over china because of its —— north korea because of its —— north korea because of its economic assistance. china has different influence on the potential and it is not willing to use that leveraged to bring north korea to its knees, for example. which is what we want. to force north korea to abandon its nuclear ambition. there is this trust at the basis of the relationship that limits china's ability to really influence north korean policies. china has been overly interventionist in north korea, a sink. —— they say. interventionist in north korea, a sink. -- they say. this is some kind of warning to china before the two leaders meet. do you think it will work and you think china will be more motivated to act after these words from president trump? one that would hope. there are some reports that in fact china's supposed cut on coal imports are not really put into effect. one would hope that china would in fact take these sanctions more seriously. the us could actually do a lot more. in that, i think the us underestimate its own