everybody who knew my who spoke chinese was gone in the one nine hundred fifty s. the state department had no employees who spoke cheney it's resulted in us not having relations with the number one most populous country in the world in one thousand nine hundred seventy nine this man deng xiaoping became china. he said socialism does not mean shared poverty. this was code for the most radical reforms since miles revolution. the return of capitalism to china but this time controlled by the communist party. to be riches glorious day and was reported as saying. america was now threatened by the emergence of a vast image of itself. this is one of the many very exclusive gated communities in shanghai where an apartment is one of the prices of the new communism. i had a range to see professor zion way way a close aide to the late things out paying the man to change china. the in. really extremely. long term visionary leader always exceed the long term strategic vision for his country for his people that china is the you for that path you know the truth this is really a tr

coming up, in the next hour, the big chinese hack. a bloomberg investigation revealed hackers implanted tiny microchips in servers that infiltrated data centers of almost 30 u.s. companies , including apple and amazon. plus, new rules for testing self driving cars are out. that they take away drivers no , longer need to be human. we get the action from the hill. and medium is publishing its first novel a satire of silicon , valley written by a formal google executive. that is truth just as absurd and shocking as fiction? author jessica powell joins us later. to the top story, the most significant known supply chain attack ever on u.s. companies. a bloomberg businessweek investigation revealed chinese hackers implanted tiny microchips in servers that infiltrated the data centers of almost 30 u.s. companies, including apple and amazon. this is based on extensive interviews conducted with intelligence and corporate sources. both apple and amazon have disputed summaries of the reporting and so has the company that assembled the servers, a

people will be fully mobilized behind the chinese government and the chinese military. new research saying as humans devastating war has claimed fifty six thousand lives over the past two years some five times higher than previously thought the spine it being considered the world's worst humanitarian crisis a british charity find that almost half of people in the u.k. are all aware there's a war there at all even though their countries the second biggest supplier of weapons to the country waging the bombing campaign probably boyko has more on those findings in a moment but first here's a look at just how much of a toll three years of war has taken on the yemeni people. hi do you know what's happening in yemen. so much. afraid i. don't know sorry what's happening in yemen. there's a war saudi arabia. or some middle east politics i have no idea really do you know what's happening in yemen sorry do you know what's happening in yemen. it's taking the lives of thousands of civilians and caused an unprecedented humanitarian crisis and yet according to a new poll almost a home

-- the chinese economy. there is a lot of focus on whether this meeting in argentina will yield results. put a: bloomberg, they number out on what the gdp drag could be for 2019, in the vicinity of 1.5%. tom, let me get to you to try to figure out the extent of the slowdown in china's car market, and whether this latest measure by the chinese government is actually going to fix the problem. tom: that's the key question. this is another additional stimulus measure, if indeed is it -- it is implemented. this was reported by our team last night, that the chinese would look at a proposal of cutting the sales tax on smaller engine cars from 10% to 5%. we don't know the exact timetable, but that was reported at thee ndrc, officials state planning organization. it is a lever china has pulled before, and comes at a time when the market faces pressure, particularly smaller engine vehicles targeted by sales tax cuts. we look at four straight months of sales declines for the chinese auto sector, the largest auto sector

people will be fully mobilized behind the chinese government and the chinese military. u.s. allies from around the globe are rounding on washington as a trade dispute over metal terrace reaches the world trade organization countries like mexico canada and members are pushing the global body to review their level saying they're concerned by the impact of washington's behavior. this collective resort's a dispute settlement reflects the serious concern of the membership of the united states actions norway's worried that the united states would offer a purported justification that is so evidently divorced from real world security concerns. raised import charges by ten percent allow them in yemen twenty five percent on still back in march washington says the move was for security reasons meaning it is effectively out of the w.t. is juist stiction and even countries on good terms with america are imposing retaliatory tariffs peter rosen striker strategist for a leading online swiss bank thinks that it's not about trade it's about trump's reshaping of relationships which isn't

it was almost illegal for someone like me to know a chinese for almost all of american history the chinese came to america to mine gold and build the railroads and americans decided we didn't like the competition so in one thousand nine hundred two we had the chinese exclusion act which kept the chaney's out of the united states for about one hundred years so you have the largest population in the world that can come to the united states so at just the point we're putting up the statue of liberty saying we welcome everybody we were wrecked in a wall saying we welcome everybody except those cheney's. fear of a rising china today is the latest chapter in the history of propaganda but present to the chinese as uncouth and infant teil. to western popular and political culture the chinese became the yellow peril. and racial stereotypes pull the constant theme of fear and threat. as the t.v. show is actually. twisting his. revels enough stuff. so. this caricature of an entire people can see old enough or agenda. for the american to lead to in the nineteenth century china was a goldmine of drugs.

and chinese offensive -- chinese officials. rishaad: we speak of michael spencer from deutsche bank. it's just another one of these sell those, is it not? i think over the last few weeks, starting from mike pence's speech earlier, we are getting a broader perspective from washington about what it is they are trying to achieve. for most of this year, the chinese side has felt this was just about the bilateral deficit, and if we could commit to buying more from the u.s., this goes away. we are seeing now that there is a much more fundamental objective, which is to open the chinese markets to goods and services, to force china to adopt a much more liberal approach to foreign direct investment writer -- rather than requiring them through minority stakes and joint ventures. until china shows a willingness to negotiate on all those fronts, the pressure will get worse. rishaad: and the hardball played by the white house seems to be much harder with china than anywhere else, because we have been able to see things like nafta, other tra

people will be fully mobilized behind the chinese government and the chinese military. and u.s. allies from around the globe around in washington as a trade dispute have the metal tariffs reaches the world trade organization countries like mexico canada and members are pushing the global body to review the level saying they're concerned by the impact of washington's behavior. this collective resort to dispute stance woman reflects the serious concern of the membership of the united states actions norway's worried that the united states would offer a purported justification that is so evidently divorced from real world security concerns. donald trump raised import charges by ten percent on alum indian and twenty five percent on steel back in march washington says the move was for security reasons meaning it is effectively out of the juice stiction and even countries on good terms of america are imposing retaliatory tariffs pizza rosen strike a strategic first for to a strategist for a leading online swiss bank things that it's not about trade it's about trumps a reshapin

>> we have to be deterring chinese activity. in the china is engaged largest intellectual property theft in history. we know they are aggressively targeting her companies. the russians, the iranians are out there, so we have to make sure we come together to stop these attacks. we are talking about some of the most security conscious companies in america, and they denied this thing completely. it will be interesting to see how this played out. david: from what your experience tells you, let's assume it is , are the chinese doing this to gain data that is itthem a back door, or a learned them to use these computers for malicious purposes beyond burning things? >> the answer is yes to both those things. any exploit that collects information can be used as of cyber weapon to disrupt, destroy, or modify information. as we see actors getting more aggressive, particularly china, korea, wean, north have to look out and be careful. david: when you talk about cybersecurity come as ceo say we can't fight a war on all fronts. triage data br

that is nature of the chinese regime at its heart. they have a lot of people and they use very blunt tools to try and reshape the organisation of their society. what do you think it tells us about xi jinping's vision for china? it reminds me of tiananmen square and the cultural revolution. this is the chinese particular brand of totalitarianism. rewiring people's brains so they come out either dead or agreeing with you. that seems to be the chinese model and it is not... the business of the internal minority, the russians and the chechens. there are parallels. but the chinese seem to have a particular way of going about it. people thought that as china had economic prosperity, people would then start wanting political change. and that things would change and thatjust hasn't happened. in the history of china, we have seen that before in 1976, i think, during the cultural revolution. mao zedong at that time felt that the people needed to be re—educated. the scale of this is staggering and the global times reported between january and

are you worried about the chinese being a colonial... i didn't accuse the chinese, i merely said that are other forms of colonialism and one of them was neo—colonialism which was coined by president sukarno. that's what i said, i didn't accuse the chinese of... sukarno of indonesia, former. are you worried about the chinese when you say and a new form of colonialism? is that who you're pointing the finger at? they're still coming, they still want to invest in malaysia. they've seen me, many of them have seen me, even recently, and they don't seem to be in any way angry with me because of what i said regarding colonialism. but do you see them as bringing about a new form of colonialism with their 0ne belt 0ne road infrastructure products around asia? no, not at all, one belt 0ne road is ok. but, you see, some people sell big pieces of land to the chinese where they are going to build a city which is very luxurious. it is for their people to come and live there, 700,000 of them. that is not foreign direct investment, foreign direct inves

the chinese, the u.s. stopped short of calling chinese currency manipulator but did add them to a watch list. in the foreign exchange report the treasury department says china needs to make aggressive advance reforms to support more consumption and to get away from purely investment. that means basically open the markets to u.s. goods and allow more competition in there. now, once that level playing field is there, the president says he would like to reduce tariffs. reducing tariffs would also include those tariffs for steel and aluminum that went into effect last may. the number of exemptions, we have the updated list as of october 8th, the latest the commerce department has, take a look at this, the companies that applied for steel exemptions, almost 40,000 exemptions applied for. 5,000 exemptions for aluminum. what we're seeing is a very slow process going through these exemptions from the commerce department. in fact, right now, 30% of those decisions have been made on the steel side. that's about 11,5

to western popular and political culture the chinese became the yellow peril. and racial stereotypes hold a constant theme. and threat. as the t.v. . show. was really. revel in so much stuff. so. this caricature of an entire people concealed another agenda. for the american to lead to in the nineteenth century china was a goldmine of drugs. war in delano the grandfather of franklin delano roosevelt was the american opium king of china he was the biggest american opium dealer second to the british he welcomed the first american ship into china to help with the opium wars much of the east coast of america colombia harvard yale princeton were born from opium money the american industrial revolution was funded by huge pools of money where did this come from it came from illegal drugs in the biggest market in the world china and we get this right the grandfather of. the most liberal president franklin delano roosevelt was a drug runner yes franklin delano roosevelt never made much money in his life he had public service jobs that were very lowly paid but he had yaht

winner is glad that protectionist tariffs keep chinese competitors out of europe's markets. but the international trade in bicycles is a hotly fought segment and the companies trying to grab a slice of the pie will go to great lengths to do so. not long after the e.u. implemented punitive tariffs on bikes from china they began to arrive from cambodia indonesia and other places when it grew clear that the bikes were actually being made by chinese firms punitive tariffs against those countries were put in place. then tunisia began exporting them. and was soon slapped with tariffs. today components for the bikes are still mostly made in china but the frames are finished elsewhere like taiwan which because that's where the rules say value is added the bikes are then no longer subject to punitive tariffs when they're imported into the e.u. . so what happens when the market for bicycles isn't protected by high import duties in the us city of philadelphia. brian catholic used to sell exclusively american brands that had been produced domestically. but that changed a few years ago t

when there is glad that protection is tariffs keep chinese competitors out of europe's markets. but the international trade in bicycles is a hotly fought segment and the company is trying to grab a slice of the pie it will go to great lengths to do so. not long after the e.u. implemented punitive tariffs on bikes from china they began to arrive from cambodia malaysia indonesia and other places when it grew clear that the bikes were actually being made by chinese firms punitive tariffs against those countries were put in place. then tunisia began exporting them. and was soon slapped with tariffs. today components for the bikes are still mostly made in china but the frames are finished elsewhere like taiwan with because that's where the rules say value was added the bikes are then no longer subject to punitive tariffs when they're imported into the e.u. . so what happens when the market for bicycles isn't protected by high import duties in the u.s. city of philadelphia bike store owner brian catholic used to sell exclusively american brands that had been produced domestically. but

it was almost illegal for someone like me to know a chinese for almost all of american history the chinese came to america to mine gold and build the railroads and americans decided we didn't like the competition so in one thousand nine hundred two we had the chinese exclusion act which kept the chaney's out of the united states for about one hundred years so you have the largest population in the world that can come to the united states so at just the point we're putting up the statue of liberty saying we welcome everybody we were wrecked in a wall saying we welcome everybody except those cheney's. fear of a rising china today is the latest chapter in the history of propaganda but present to the chinese as uncouth and infant teil. to western popular and political culture the chinese became the yellow peril. and racial stereotypes pull the constant theme of fear and threat. as the t.v. show is actually. twisting his. revels in the stuff. so. this caricature of an entire people can see old enough or agenda. for the american to lead to in the nineteenth century china was a goldmine of drugs.

chinese yuan weakness. the yen being dragged to lower by that move from the pboc and also japanese equity markets out of action. you have seen downward pressure from the japanese yen. turning now to the first word news. brazil, the divisive far right former army captain has won a huge lead. that is as years of corruption scandals and soaring crime rallied around his message. the result was the seven-time congressman on track for victory in the second round vote on october 28 when he will face his closest challenger, the workers party candidate. ministerican finance -- these south african finance minister has asked cyril ramaphosa to be dismissed from his position according to business day. the request came after political parties rejected his policy -- apology for previously undisclosed meetings during past 10 years as minister of finance tom 20 10th 2014. -- 2010 2014. a spokesperson declines,. turkey's president has said he is involved in the case of a missing saudi journalist. he also said he is holding

chinese car maker nio has a big idea — battery swapping. a driver rolls into a battery swap station, and a robot replaces the drained battery with a fully charged spare. quite a good idea. it has already opened stations in major cities across china. don't forget, let us know what you are spotting online. and what you think of the show more generally, if you like. use the hashtag, #bbcthebriefing. that is it for the business briefing this hour. i will have a quick show of the markets if we can. we have seen a bit of a downturn yet again when it comes us market. some earnings missed expectations that pulled the us market down a little bit, and we have seen the session in asia actually done as well. there are some concerns that they are cash—strapped companies, particularly in china, and that news in china coming in a little bit more downbeat was expected. that has pulled some of the markets down as well. that is it for the markets. i have plenty more for you in a little while, but i will see you in about ten minutes for the newsbriefing. se

chinese government recognizes the need for rrr. one of the contrary and trays we look at is chinese banks. it does help on earnings potential with any rrr cuts. shery: not only banks. if you see a more accommodative monetary policy from the pboc, how will this boost the chinese stocks, especially the msci china which is trading below the historical pe average? >> it is. when you look at msci china trading around that 10.5 times earnings, and also the way you look at the msci 300, now with the markets opening and potentially seeing more profit taking in the beginning, you could see earnings going down further. so there are expectations right now. bute markets are a bit weak with my citations a low valuation, that does lead to some opportunities in various pockets within the chinese equity markets at this moment. lengthwe've talked at about valuations and how attractive they are. a heavily it is retail, domestic driven market, what keeps it from rebounding? there is sentiment-driven, something going on in china. noise., at this momen

listings by chinese companies. competitor and investor, we ask what it means for the streaming music landscape. first to our top story, we take a look at the bombshell businessweek report for how china. the most significant data hack. they managed to install a hardware hack in the data centers of newly 30 companies, but they did not stop there. malicious software was introduced and that code allowed attackers to secretly take over servers. one customer targeted was facebook, which told bloomberg that in 2015, we were made aware ofmalicious manipulation software from industry partners from our threat intelligence industry. while facebook has purchased a limited number of micro hardware , our investigations revealed it has not been used in production and we are in the process of removing them. and washington, we have one of the authors of this investigation. jordan, i want to start with you. you are reporting that we are looking at three potential avenues of attack, including the hardware attack we talked about yeste

no and loyalty to the chinese come, in us part a deep and lasting resentment. s family and faithing broken. fled wither children her baby daughter didn't yet have a passport. her dad planned to bring her later, but he has been taken away. >> if my daughter could hear me but i would say nothing amorry. there is nothing worse than not knowing where she is, whether she is alive or dead. back in xinjiang, we are visiting a camp where we have ofheard tens of thousands people are being held. in front of us, the police closed the entire highway. we try other routes, but every time, it is roadblock after roadblock. there is no way through. we're -- where forced to give up is a short distance away from a large new camp with the watchtowers clearly visible. we'rethe chinese police have ag reach, it seems. >> government hijacking -- >> a british uighurin livin london says they are thin -- they are pressuring his family. >> my family members have been harassed by police security forces,t asking them to pressure on me to keep my mouth anythingnot say against the chinese gov

this is the chinese brand of totalitarianism. rewiring people's brains so they come out either dead or agreeing with you. that seems to be the chinese model and it is not... the business of the internal minority, the russians and chechens. the chinese seem to have a particular way of going about it. people thought that as china had economic prosperity, people would then start wanting political change. that things would change and that hasn't happened. in the history of china, we have seen that before in 1976, i think, during the cultural revolution. mao zedong at that time felt that the people needed to be re—educated. felt that the people needed to be re-educated. the scale of this is staggering and the global times reported between january and staggering and the global times reported betweenjanuary and march of this year, 461,000 people had been relocated to improve social stability and unity. when you think of the scale of the cultural revolution, everyone with an education or a middle—class occupation was suspect and was

after chinese objections. so he is, president trump, before, and now vice president pence, they're laying out a fairly comprehensive chinese response, that they're going to try to affect american elections, get a different president, work on supporting anybody who is dependent on purchase of things from china. it is actually a very clever chinese plan. trish: we heard about the russians. we're on to the chinese. >> did you hear vice president pence? he didn't want to name the intelligence official but he said this official told him what russia has been doing pales in comparison with what the chinese are up to. trish: look, the chinese have a bit more economic might as well. which always worries me, michael pillsbury. as you are gaining in the economy you also have the possibility of gaining a new military options as well. we need to be very, very aware. we'll keep watching it. >> sounds to me like vice president pence is revealing the trump administration is moving toward action. they will lay out a blueprint

we met a chinese mother looking for her son after he was sold by human smugglers. now we're back with tan changing and she's still booking. we accompany her to police stations classrooms orphanages will touching jane never see her son again. the whole story recorder on t w.

sectors in the chinese market. they are focused on the industrial sector. it may be the small companies which will really need help. they are the ones suffering the most. until china addresses their problems, this will not be a sustainable rally going on equities. still more to play out. it really is a spectacular rally. it is bringing up the asian market with it. anna: let's enjoy it and not ask too many questions. we spend a lot of time at the end of last week talking about the way they raise financing and mark markets -- in markets. earlier in the asian session there has been trading around the euro, perhaps that led people to conclude this was not going to be such a risk on day for italy. then we have seen the euro on the rise up 0.2%. buying in btp's, yields coming down. they have dodged something that could've been worse in the short-term. >> absolutely. if there had been a two notch downgrade, to junk status, we would have had a different picture. italy has been downgraded by two notches in the past. the fac

people will be fully mobilized behind the chinese government and the chinese military. u.s. allies around the globe are running on washington right now is the trade dispute over metal tariffs reaches the world trade organization countries like mexico canada or the e.u. members too are pushing the global body to review the levees saying that they're concerned by the impact of washington's behavior. this collective resort's a dispute settlement reflects the serious concern of the membership of the united states' actions norway's worried that the united states would offer a purported justification that is so evidently divorced from real world security concerns whether or not shelly or donald trump raised the import charges by ten percent on many m. and twenty five percent on steel that was back in march washington says the move was for security reasons meaning it serve affectively out of the w t o's jurisdiction a number of countries including china russia have imposed retaliatory tariffs while that china was also hit with increased costs as well on an additional five hund

-- the chinese are capable of? dmitri: it is certainly possible. this seems like a very expensive and very difficult effort to go through to achieve that objective knowing they are able to do that through compromised software supply chains or direct intrusions into companies like what we see now. ofis not out of the realm possibilities, but there are a lot of questions to be answered. emily: based on your reporting, what are you most concerned about? you talked about the relationship between nationstates, government arms, and their criminal counterparts within those nations rates and you are -- nationstates and you are continuing to see a blurring of the line. dmitri: we are seeing increasing the criminal groups at adapting nationstate techniques, nationstate pools and tradecraft to break into orientations. as nationstates are coming out with innovations, new exploits and discovering new vulnerabilities, very quickly that dissipates into the criminal underground and criminals are using those techniques to break int

what is cheap for chinese stocks? this is the lowest we have seen in a few years, at least. -- can investors for to get back in -- start to beget back in? miranda: weaker earnings have been hitting sentiment. now the government is backing the share pledges and easing monetary policy. in.putting money in terms of a strong rebound, you'll have to wait until the trade war gets resolved because you see a continued strength in the market. anna: miranda carr, thank you. she helped us to make sense of a number of threads coming out of china. bloomberg users can use the gtv go function to look at all the charts. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open. we don't have very much time for the battle of the charts. juliette saly is going to go head to head with sebastian, our home player. juliette: i'm heading back to asia tomorrow. thatlooking at the fact not only is there this escalating trade dispute with the u.s. and china, but junk bo nds. the returnline is coming through from

government the chinese communist party. you mentioned just a few moments ago what you think he's might be behind the reasons why china has is going on this but once a propaganda offensive is that. it it's your and simple it's something sort of out of fifty it's the sixty's so you know the claim is that people aren't there or how what we you know they're acquiring skills that is all through their you know for their well being really do strain credulity alongside of you know accounts and we and others have you know there are people who it's for us that we detained tortured psychologically tormented held for months at a time in family members overseas who've been terrorized and providing information about its use to get people in the camps so if china wants its ethnic minorities to live in a more civilized china how should it. be treating them. well the chinese government just about in itself respecting people's rights you know if it really wants the kind of harmony it claims that's about respecting rights to religious freedom

the move is a blow to the chinese company,hich relies o u.s. technology for production and which micron technologies accusedinf ste its intellectual property. >>> a common theme this quarter has been trade. and according to cnbc, 35% of the conference calls that took lace through last friday mentioned tariffs. 45 companies, including costco, saidson and the tariffs were having some negative impact on their business, while five companies, including kansas ci southern and carmax said tariffs actually helped their results as customers pulled business forward to beat out the economic impact. >>> and with reports that the u. is planning more tariffs, u.s. businesses already caught in the middle of the trade war are hoping to win exemptions. so far, that has not been the case. ylan mui is in washington tonight. >> reporter: tariffs are swamping sea eagle boats in port jefferson, new york. kayaks are getting hit. and for owner john hogue, there's no way out. >> the annual cost to our company, which is a small family business, will be over $1 million a

the chinese government not dennying it, what do you make of that response from the chinese government? >> it's interesting that the statement comes from the foreign ministry, which is one of the few bodies of the party that has ar spokes person that speaks regularly to the american press. it is possible that the people in the foreign ministry don't have any idea what the party's military was doing and that they got instructions to address it this way or frankly just didn't know. unfortunately, the party military does not have a person that speaks to international media and no way for journalists to go in there and get the military's view on any of this. even if we were able to, it is likely that the military would not admit to having done such a complicated and devastating process. emily: tensions between the u.s. and china already high. we are in the middle of a trade war and the administration has expressed concern about the national security concerns with respect to china. how do you expect a story like this might up the ante or increase the level of tension that we are now seeing

people will be fully mobilized behind the chinese government and the chinese military. your search says yemen's devastating war has claimed fifty six thousand lives over the past two years some five times higher than previously thought despite it being considered the world's worst humanitarian crisis a british charities found out there but almost half of people in the u.k. are unaware there's a war they're all even though their country is the second biggest supplier of weapons to the country waging a bombing campaign but has more on the findings in a moment but first here's a look at just how much of a toll three years of war has taken on the yemeni people. hi do you know what's happening in yemen. so much. i'm afraid i. don't. know sorry what's happening in yemen. now there's a war soldier review. for some middle east politics tired no idea really do you know what's happening in yemen sorry do you know what's happening in yemen thank god it's taken the lives of thousands of civilians and caused an unprecedented humanitarian crisis and yet according to a new poll almost

people will be fully mobilized behind the chinese government and the chinese military. the devastating conflict in yemen has long been regarded as the world's worst humanitarian crisis but it's a war that's bypassed nearly half of people in britain according to a new poll what makes that more alarming is that the u.k. is the second biggest supplier of weapons to the country waging the bombing campaign. has more on those findings in a moment but first here's a look at just how much of a toll three years of war has taken on the yemeni people. i want to find out how much people in london know about it hi do you know what's happening in yemen. so much. i'm afraid i. don't. know now sorry what's happening in yemen. there's a war soldier rabiya. for some middle east politics i have no idea really do you know what's happening in yemen sorry do you know what's happening in yemen. is taking the lives of thousands of civilians and caused an unprecedented humanitarian crisis and yet according to a new poll almost a conference the people in the u.k. have no i did that there is a wa

check out the trends for chinese globetrotters. —— imf. we will kick things off with the business and economic events we are watching this week. on tuesday, world leaders will meet in bali, indonesia, for both the imf and world rank meetings. fast forward to thursday and we will get a clearer picture of the us economy at us unemployment falls and the aspect of china's tariffs play out on the consumer prices. “— china's tariffs play out on the consumer prices. —— world bank. we will see singapore elle is launched the longest commercial flight —— airlines. flight time will be 18 hours and 45 minutes. and rounding off the week, some trade week figures from china. i spoke earlier with michael mccarthy in sydney and asked for his take on the upcoming meetings in bali as the international lender warned last week that the economy is at risk of another financial meltdown. we are seeing another financial meltdown. we are seeing pressure on another financial meltdown. we are seeing pressure on markets around the globe. the us is trading

said we have told the chinese what we want and want a reciprocal trading relationship. ofwill also look at the end november when there could be a meeting between president xi and president trump at the g20 meeting. that is one area analysts will be looking at closely. the ambassador was also asked about the personal relationship and said the president's' relationship is strong. haidi: our correspondent with the latest on the trade war and in terms of collateral damage, the bank of japan governor is the latest to sound the alarm on trade. an exclusive interview next. shery: extremists out on any interviews so far, tv is your function. you can find all the charts we showed you throughout programming on the right side, and if you have any questions, the lower part of your screen on the left. you can directly connect with us. this is bloomberg. ♪ haidi: i am haidi stroud-watts in sydney. shery: i am shery ahn. you are watching daybreak australia. the imf world bank meeting wrapped up with a clear message, trade tensions are hitting global growth. governor kuroda amon

next year, again the chinese comedy -- the chinese economy will be stable. what else is helping the up economy, -- what else is helping the economy, you could say yes. there is not much that china can do to hurt the u.s. trade. china needs a few more years to develop and restructure and rebalance before the exposure and vulnerability trade is reduced. kwok willa -- donna be staying with us. after weeks, months, years of torturous negotiations, the european union and the united kingdom may be inching toward a deal. next wednesday, we see theresa may perhaps meeting her european counterparts and making a move to something a bit closer to a deal here as well. that meeting is set to take place in brussels. there is optimism. the argument is leaving the market will be good for the british business, but on the continent, people say it may be a great opportunity for germany and financial institutions. let's discuss this with joachim wuermeling, a member of the bundesbank executive board. it is a huge opportunity for germany, especially a no deal brexit. guest: ther

emmy's the german mechanical engineering and electronics expertise is not being challenged by the chinese the chinese are interested in large ticket projects often with a barter element that secures china commodities germany doesn't want to look for commodities in africa germany should be looking to invest long term train africans and to build long stirrer really long term business relationships there to that end they must invest more term against consultant and member of the nigerian german energy partnership thank you for your thoughts thank you. germany's unemployment rate has dropped to its lowest level since reunification in october below five percent in total two point two million people were without a job engineers masons programmers are in high demand in germany the solid labor market is expected to further boost consumer confidence and household spending by increasing headwinds the global economy. now coal miners in spain are fearing for their jobs more than one thousand of them will be unemployed by the end of this year alone as the country's government is refocusing on renewabl

the story is on the chinese mainland. up 3.25% for that index. .orporate stories and earnings from that all out the window. it does not matter. it matters what aging thinks. heading into the lunch break in japan. the last are before we enter that much-needed break, given where things are now. this is bloomberg. ♪ kong, on10:29 in hong paul allen with the first word headlines. xi jingping has vowed "unwavering support" for the private sector in china's latest attempt to: fears about the slowing economy. i said anything that negates or weakens the private economy is wrong, and he supports private enterprise. thevice premier also said government would continue to support the private sector. the u.s. is ramping up pressure wayhina in may change the the country is manipulating its currency. they shouldn said adopt a wider definition of currency manipulation. does not meet all three of the current standards for currency manipulation, however that could change. president trump is planning to pull the u.s. out of the major arms

week, today is a week for chinese it -- for chinese equities and tech shares. before this, we had a rebound in tech shares this week, with earnings -- with positive earnings reports from netflix and others. this chinese report, when it was initially released, came unnoticed and people ignored it. but there was a local brokerage report that reminded investors that, hey, this could be a big deal. similar indications in the past have resulted in anti-dumping s.ties - companies named in this complaint from china have fallen steeply this week. shery: given the pressure in the sector, what is the outlook for today's session? already the nikkei losing 1.5%. >> right. it is another day for japanese equities. it is a lot of things. we have ongoing worries about how the ongoing tensions between u.s. and china will impact, plus the ongoing tensions between u.s. and saudi arabia will impact. it will be another weekday. -- as far as the companies named in this report, we will have to see the long-term impact. it will take quite a bit of time before we see the results. shery

people will be fully mobilized behind the chinese government and the chinese military. the research says yemen's devastating wars claim fifty six thousand lives over the past two years some five times higher than previously thought despite it being considered the world's worst humanitarian crisis a british charities found out that almost half of people in the u.k. are unaware there's a war there at all even though crucially their country is the second biggest supplier of weapons to the country waging the bombing campaign polyploid has more the findings in a moment but first here's a look at just how much of a toll three years of war has taken on the yemeni people. i. i. hi do you know what's happening in yemen. but. i'm afraid i. don't. know sorry what's happening in yemen. it is a wall. saudi arabia. or some middle east politics i have no idea do you know what's happening in yemen sorry do you know what's happening in yemen. it's taken the lives of thousands of civilians and caused an unprecedented humanitarian crisis and yet according to a new poll almost half of the

aggression already there are terror of some place and more than two hundred fifty billion in chinese goods and more ad the ready could be implemented as early as next year kimberly held at al-jazeera the white house. the u.s. about mint of homeland security appears to contradict the president and the vice president's words at a cyber security summit just three days ago the department's secretary said we currently have no indication that a foreign adverse or intends to disrupt our election infrastructure but i will immediately follow that with this is a point in time we know they have the capability and we know they have the will so we're constantly on alert to watch but what we see with china right now are the influence campaigns the more traditional long standing holistic influence campaigns well our correspondent adrian brown has reaction from the chinese capital beijing. well details of the vice president's speech had been leaked many days in advance so china knew what to expect a spokeswoman for the country's foreign ministry said that the vice president's accusations were ground

the chinese are now relying on chinese businessmen and others with ties to beijing to feed arguments to the trump friends. the strategy is that these people will pass on what they're hearing and beijing's views will eventually be delivered to the president by trusted voices. you know how the president still and now other republicans too, they get crowds, republican crowds to scream, "lock her up, lock her up" at rallies and events about hillary clinton? what that is supposedly about is about her using a private e-mail server when she was secretary of state. oh, the horror. now we know that, as president, even though his staff have told him foreign spy agencies can listen in to all his calls if he uses a private phone, he's still using his private phone. so the chinese, according to american intelligence reports, are not only listening in on his calls, they're using what they're obtaining from the fact that they're listening in on his calls to manipulate him and u.s. policy to their advantage. now, there is one little silver lining that "the times" is reporting, one little upside in t

the chinese machine is still working very well. anna: battered by bond trading, posts steep declines for fixed-income trading and cruise control. vw sticks to its full-year goals as china make clear the road with a tax-cut on car sales. robust numbers from porsche turbo charge results. we will speak to the cfo imminently. market to the european open carry to the start of european equity trading day. let's look at where we are with the futures. you said we are seeing positivity in futures. that applies to u.s. futures after the losses they saw at the end of their session yesterday and it applies to european futures. dax staging the biggest of the rebound. on the gmm, this is the markets open currently, showing some outsized move. we see movement in the turkish equity market, the russian and indonesian. we saw a earlier the chinese equity market was on here because we see gains in china. are they made in china or by trump? it is to do with the comment about a "great deal" on trade or is something else happening in the chinese market?

and chinese warships, this new show of force from the chinese navy. mike pompeo coming away saying there are fundamental disagreements there. that does not seem there is any chance for a circuit breaker. christopher: it is really looking like there will be a worse relationship before it gets better, at least in the near term. the other piece you didn't mention was lost in the brett kavanaugh confirmation hearings. vice president pence gave a very hawkish speech on china, outlining his views about how china is moving against the u.s. on the board. china is a country that is growing increasingly large and more influential in economic and political spheres. the united nations needs to find ways to manage that rise of china. chinese leaders on their part need to understand how to best live by the rules. they have been able to live a more isolated existence for many decades. they emerged as one of the leading countries on the world stage. it is incumbent upon them to look at how they are complying rules,ade issues, trade investment rules, how they engage w

we are weaker here on the chinese currency. 694.55. have a look at the chinese markets. the big story is the rally. that has gone away roughly for today. hong kong finding steep losses. at this point in time, one and one quarter of 1%. since it's open, we have pushed toward a session lows. a long weekend. we will see. let's bring our question of the day. and for our viewers, it will be about china, has china built enough to establish a floor for chinese markets. let's bring in our team coverage here. how have -- have we reached the floor? >> i think so. from a technical point of view and the major it has formedx, multiple bottoms. that leaves a strong supporter in that -- but to gains will be more likely than losses from here. rishaad: what are people telling you about this? >> i think it is what like she was saying. we are having this sweeping, coordinated push, that is lifting sentiment and adding to what is happening in the stock market over the last few days. we have had them -- have had a move on the parcel tax cuts. talking about doing more to promote lending in pr

virtually all the chinese banks. spectacular the majority of them, these are government-controlled banks whose role ultimately is to support chinese economic growth and development. no. maximize shareholder rrnls. at times the interests of the two overlap and since the financial crisis, i think people have recognized that the quid pro quo of that very strong state support, particularly for the big banks is that the banks have to be to achieve the effectivest. yvonne: david, thank you. david marshall, asian banks senior analyst from singapore. our exclusive interview with the c.e.o. jean sebastian jacques next. note. ♪ yvonne: the heads of top mining firms have been speaking to bloomberg at the international conference in melbourne. rishaad: even amid slowing rowth and the ongoing -- haidi ? haidi: it comes as no surprise to anybody but the fist question on anyone's les as we speak to some mining c.e.o.'s and business leader, what impact, if any, the burgeoning trade war between the u.s. and china is having on their

people will be fully mobilized behind the chinese government and the chinese military. the research says yemen's devastating war has claimed fifty six thousand lives over the past two years some five times higher than previously thought despite it being considered the world's worst humanitarian crisis british charities found that almost half of people in the u.k. are unaware that there's a war there at all even though their country is the second biggest supplier of weapons to the country waging a bombing campaign has more the findings in a moment but first here's a look at just how much of a toll three years of war has taken on the yemeni people. hi do you know what's happening in yemen. so much. i'm afraid i. don't know sorry what's happening in yemen. there's a war soldier rubia. or some middle east politics i have no idea really do you know what's happening in yemen sorry do you know what's happening in yemen. is taking the lives of thousands of civilians and caused an unprecedented humanitarian crisis and yet according to a new poll almost a conference the people in

max: the chinese market for electric cars is massive. tesla has not made much progress there at all. if tesla is able to get into the market and sell cars, that will go a long way to improving their bottom line and generating huge amount of revenue. china, especially in the donald trump era, there are regulatory hurdles. being able to find a location for the factory is important as a first step. emily: up next, putting tv in your pocket with a slew of new original productions. we look at the strategy in just a moment. and the un's latest climate report paints a grim picture. can tech play a role in saving the planet? that is ahead. this is bloomberg. ♪ emily: snap will release a dozen original series. as they announce a new lineup to maintain a grip on teen users and get an edge over instagram. we discussed whether the play will be a success. >> this is a completely new slate of programming. for a while, they have encouraged outside content partners to make media, have them build their brands on separate channels. now they are doing it