of all i do have to say china is an important trading partner china has to achieve a new level of value creation that is true it is absolutely crucial for growth and employment in china and nothing can be said against it the question is what means and what conditions of a using to do that that is precisely where the principles of a market economy should apply not so to speak the principles of a state economy that distributes state subsidies. at the moment china is fighting with unfair means. if i were to subsidize things in this way competition will no longer be fair and that will distort competition in the media. we cannot have any interest in that. the issue is essentially to prevent germany from being sold off to not just see the piles of chinese money but also to protect german no found. back in. chinese hands the firm was sold for one hundred fifty million euros with the majority of. the highest bidder location and jobs are supposedly secure even though the company didn't get that in writing but the german management is still satisfied. thought draw to do it. strategically. both si

china's a force of. global warming issues i mean china is indeed doing a lot of that force but we also know that china must do a lot of it for it so that's why we are of course paying a lot of attention to the results but anyway yes china i believe is carefully listening to the advices but also to the possibilities for ships with partners like france and i i believe that for the chinese it is it is extremely important he was shapes somehow the relation between the e.u. and china that unfortunately has been a little bit. shaking in the past they said to the kates so this is something very important to be grilled is stationary considering the international context that we have all of us described in detail and in in this purpose i believe that my close visit and the timing of these visits is consider in china has some sort of supporting it to show what i think or a new face for the international community a face of a country more willing to cooperate in the disobey to the age itself also ok just lastly mat

in china. the internal commentary on the decision by the court in the hague is that it's a political setup job. that's the way which it's been run domestically within the chinese media, and they point to the political nature of the jurisdiction. - so what will the do now, and i think the answer is they'll go on behaving the way they have. i would be surprised if they escalate but they'll go on until they are faced with a penalty for their behavior. - [emcee] ladies and gentlemen, please welcome his excellency, the president of the people's republic of china, mr. hu jintao. (applause) - [narrator] in 2012, president hu jintao declared china's intentions to be a maritime power. current leader xi jinping has continued that policy. - ever since that, the entire chinese system has been advancing and developing their capabilities so that china can protect its maritime rights and interests. - in the most recent military strategy statement that appeared in may of last year, they made a very (mumbles) s

-china relationship. major holes in how they address things like tech theft, how they and sectors arket of their economy how they are propping up soe. work to do.me broadly, look, we're proponents of free trade and open markets. been very clear about our views on nafta and even with respect to south heading next e're and meeting with government officials there. progress with our economic se relationships, as you know, we're advocates of ttp. to be oing to continue advocates of an open trading system. it benefits our economy. its business and it benefits our workers. when we can compete on a level field american companies do very well, and our companies our hire, as we know, in market, and that creates great opportunities for american workers. >> all right. second, i've got some breaking news coming through japan. missing estimates by quite a yen is ot, $1.3 trillion how we sit for the month of november. conomists were expecting about trillion print an much in the an what we saw previous month of october o

we could all win or lose i have come here to tell china that i am determined to move the euro china partnership into the twenty first century so that it fits in this new framework that we need to define together europe will embrace this new strategy because it is now aware of its role and its place in the century it will get involved on all of the main topics yes my friends what i have also come here to say is that europe is back some of the issues on mccall's agenda climate change with president donald trump announcing the u.s. is pulling out of the paris climate accord it's a key topic for cooperation between both countries also was described as the new silk road map kwan is backing president sees trillion dollar projects the one belt one road and they should if aims to extend china's reach across asia and beyond by using a network of new railways ports and other infrastructure america wants to strengthen the french partnership with china particularly in africa back on says france has the experience of unilateral imperialism in africa and wants to help china avoid what he calls fr

discussing china and ubs's intentions toward china. we are also keeping across headlines from emmanuel macron, who is speaking in china, in the old imperial capital. he is talking about how france and china must work together on global balance. he also says china has powerful leverage on north korea, occluding to the french president, who was delivering a big foreign policy speech at the start of his visit to china. joining us here in london, james foley, head of fx strategy. good to see you. let's talk about china and where you see this going. 2018, clearly the expectations around the fed are that we get a number of hikes and opinions vary. how much does the pboc follow along with that because they don't want to risk changing too much of that yield differential? >> well, the last few months, i think it is clear that they want a stale renminbi, but i think that is coming at the cost of the market. if you go back to the start of last year and the year before, there were a lot of doubters about the direction of china, about the cracks wi

heidi: does china worry you? they also want quality growth, to do that without adding risk in the financial system. could they achieve that? and israel inflation in china something we should be worried nflation in china something we should be worried about? good jobina did a very of stabilizing the corporate gdp ratio. it kept it flat, after a five-year average driven by corporate sector debt that had been running more than seven percentage points asterisk -- faster credit growth than gdp growth. at this stage, given the path of the economy without the need for more support, i would watch for the occasional accidents that can happen along the way, while trying to deal with the excessive leverage growth of the past. we think policy makers be facing a relatively simple task of seeing a 16.3% growth rate between now and 2020. he will be focusing more on quality, sustainability, -- they will be focusing more on quality, sustainability, and de-emphasizing growth targets. contributor to global growth, even if we go dow

with a price tag of $50 billion of investment from china and china soft. so talk a little bit what a positive scenario economic social scenario is with this question? maybe you could offer how the u.s., there are a lot of scenarios but 15 or 20 years out where the hopes for pakistan economically socially politically? how does china and the u.s. into this? >> all of that in three minutes. [laughter] >> that's why you are a diplomat. >> the investment that the chinese have brought, is in the private sector. the joint ventures including china. but i believe the future that i see in pakistan leads to both the united states and china. those are the only two that i see for my country. so to go back in time to have such a deeply dense relationship it would not serve both countries well. but with pakistan united states and china. >> please join me to think the ambassador. [applause] [inaudible conversations] . . . . senators talk about immigration and government funding. later a look at retirement strategies. these bands washington journal live every day with news

parks around china. this 10,000 square-foot venue is a pilot project to a larger theme park to be built this year. >> it wants to become the universal studios of china. why? because it is backed by a wealth of intellectual property. parks around china. stephen: idc says chinese vr shipment units will raise sixfold this year, surpassing the u.s. to be the number one market by 2019 as smartphone makers roll out their own devices. this year's pivotal. idc says a shakeout is already happening as venture capital shifts to content providers, away from equipment makers. that is a whole another world. this year's pivotal. idc says a shakeout is already down the rabbit hole. a beijing startup does not want to be one of those left for dead. it is developing its own games and plans to have 10,000 vr arcades across china by year's end. >> the biggest challenge is we don't have good enough content to get repeat customers. people will play our games for 10, 20 minutes tops but not half a day or even longer. stephen: v

i mentioned several of you maybed china. almost every one of you mentioned china. about two, three years ago, the president of china was coming to the u.s., going meet with president obama. i think met in washington state. and one thing was raise by president obama is an issue we raised with china any number of times before, and that was our unhappiness, actually anger, with their allowing folks within china to launch these hacks and to come after our intellectual property and money and number of other items and things of value. and every time we raised this with china, they would say, well, nobody in-that we are responsible for is doing this, it's not the military or part of the government. just happening and different people do this stuff with didn't believe them, and then when president obama met with break xi about two or three years nothing washington state, he raised the issue with president xi. the president said i it's not us, it's role elements within our country. president obama said this who is is doing it, this where they're locate. these are be team. i

with china's air force of. global warming issues i mean china is indeed doing a lot of that force but we also know that china must do a lot of it for it so that's why we are of course paying a lot of attention to the results but anyway yes china i believe is carefully listening to the advices but also to the possibilities for ships with partners like france and i i believe that for the chinese it is it is extremely important he was shapes somehow the relation between the e.u. and china that unfortunately has been a little bit. shaking in the past they said to the kates so this is something very important to be grilled is stationary considering the international context that we have all of us described the details and in in this purpose i believe that my close visits and the timing of these visits is consider in china has some sort of reporting it to show what i call a new face for the international community a face of a country more willing to cooperate and disobey to age itself also ok just lastly matt mccall

china. when each of the cities were exporting billions of dollars of goods and therefore, the emphasis began to shift towards the investment part of china. about the same time we had a change of government in pakistan from one democratically elected government to another democratically elected government and the present government completing its term this summer came up with this idea that what if the chinese are focusing on the investment part of china and we have economic priorities and these get linked? the idea of china and pakistan corridor had been in a way at a conceptual stage existed, but there had been things that prevented that, but the two governments took on the challenge and started connecting across these mountains, these two regions, western china and pakistan. it was very good option for pakistan and for china, to invest in china, if you want to come to the persian gulf and onto the red sea into the mediterranean, you would probably go over the land for 5,000 kilometers and

let's focus on china. i said earlier, we are going to reach out to the ambassador to china hoping some colleagues will join us to ask them what are they doing and what do we need to do to address the root cause from your end. mr. baldwin, why is it important that we engage with china. >> we were given a cooperative update. >> senator, thank you for the question. put quite simply, the reason we have to engage with china is because, as anybody who has changed oil in their car, we know the big side of the funnel and the small side of the funnel. china is the small side of the funnel. that's the place things are originating. we need to get to packages before they get to the united states and branch out to thousands of locations within the united states. we can try to track every package. we can try to address every threat, every trafficker within the united states. if we can get to the small end of the funnel, and attack some of those distributors within china that are sending tens of thousands of packages to

it's time, people of china. china longs to everyone. of yr o will it's time to choose what china shall be. you are not forgeten. happy birthday and may god grant you the strength in his presence in the hope that you'll celebrate your next birthday free. again, i thank my friend and yield back. mr. yoho: mr. hultgren, i appreciate it, and we hope that guy gets released. you prouth up a -- brought up a good point. this is something i noticed, i'm so blessed, we are so blessed to live in this greatly of our a country that our right, our founders got it right. i don't know how they did other than divine intervention, rights come from a creator, not government. government is instituted by we the people to protect our god-given rights and ker values of life, liberty, and the pursuit of happiness. our government is a government that empowers the people. empowered people do great things. and in the 19th congress, it was said, and the chinese government has set up a chinese united front, which is to show soft power in the world instead of doing

china is much more restrictive in terms of how companies can operate in china. and i think that is the issue that needs to be addressed. theresa may seems to be adopting something of a donald trump approach to relations with china which is one that is very transactional, she will say to the chinese that the uk is natural partner in the belt and road expansion even if it should meet international standards and they would say ok we will consider opening markets and investing in uk. is that the size of it? i think there is more to it. the belt and road initiative is fairly complicated, there is the issue of whether it is transparent and whether it is transparent and whether it is going to be official to get other countries involved. also the issue that the chinese ambassador to the uk had openly said he would ask the british foreign minister to officially endorse the belt and road initiative before she even set foot in china. that is a difficult thing because prime ministers of independent countries do not do what ambassadors instruct them to do. on the belt and ro

perhaps on china. on a lot of issues, especially trade -- you have the u.k. bogged down in brexit. angela merkel in germany struggling to reform a coalition. we have spain torn up over catalonia. here is france once again. situations, macron is the go-to guy in europe because everyone else is absent without leave. they are a well, if you will. this is an opportunity for these to do powers with a long-standing relationship to see eye to eye. they want to talk about the anti-terror fight, climate change, obviously those very troublesome trade issues. there are lots of things they will not see eye to eye on, but at least they have what china seas, what macron sees as a special relationship. macron's book has just been published in mandarin so chinese can read it. he is pretty high and chinese public opinion. the keyou mentioned issues during the state visit, particularly climate change after the u.s. has pulled out of the paris accords. has talked jinping the talk and walk to the walk. he has set him up a

given the pace of china. his masterplan can ambassadorship understand why dismisses and politicians are wary. in the past the motto was growth for growth and more growth you know the motto was more quality and efficiency instead of quantity. we're only at the start of our investment in germany it's a win win situation. in the in by taking over companies we've created more jobs and these companies now have more access to the chinese market. so people are afraid of chinese companies but in essence it means they're afraid of themselves afraid of competition. because china is developing people are intimidated by the pace. on for them to import top finished and off it at this stage is still behind it and subsidizing it with cheap loans how can something like this happen. i don't understand this concern with state involvement the german government also supports german companies over all of the. people and what does the ambassador make of the discussions in germany and at the european level that new regulations will

they would get killed in china. emily: you left google in 2009, google left china a few months later. what happened? kai-fu: i had no idea. i was surprised. "new york times" called me one morning and said, what is going on? can we get a quote from you? what and they said google just left china. i said, i have no idea. i can't give you a quote. then i read about it in the news. emily: google said they did not want to respond to the censorship demands of the chinese government. was that the right call? kai-fu: it is hard to say what is right or wrong. i think if, google is a very value-centric company, so it will do things according to its values, for which we all respect, but on the other hand that makes it impossible for the company to do business in china, and i would prefer to see engagement, and engagement would give users more choices, and that would ultimately i think lead to the competitiveness and better products, but that requires following the law, and if you choose not to, then i guess you would have to ex

is an operation for only you know minimum margins in china by then we'll make it to china as a whole but thank you. apple's been slashing or stashing cash i should say abroad for years now to avoid higher corporate tax rates at home u.s. president donald trump's cuts of change that now the tech giants are bringing back that money to invest in the united states and save on taxes it could be one of the biggest money transfers in the world take giant apple is moving two hundred fifty two billion dollars from a broadcast to the u.s. the company is set to face a tax bill of a whopping thirty eight billion dollars sounds like a lot but apple is actually saving money on the transaction a year ago it would have had to pay more than double that amount. apple c.e.o. tim cook says the company is proud to build on its long history of support for the u.s. economy. now the i phone makers planning investments worth billions in the u.s. it will build a new campus and hopes to create twenty thousand jobs. most of the money apple is moving comes from ireland where corporate tax rates are even lower bu

china southern, china eastern and air china. after thelimbing government removed caps on ticket prices for domestic flights. higher prices ahead for domestic fires in china. the broad picture is asian stocks are flying high across the region. we are seeing that the mood could be positive ever investors kick off a week that will see factory output and inflation india.om last friday we saw a fourth consecutive gain even after the country forecast the worst gdp growth since 2014. earning india. optimism might be what floats investors boats. david: india record high valuations. apart from india, we are watching hang seng and the asx 200. only two major markets that have not regained all-time high. maybe in the next few weeks. let's get you an update of first word news with paul allen who is with us in sydney. two koreas will hold talks on tuesday for the first time since 2015 signaling a possible break in the crisis that has escalated under the trump presidency. overall -- president trump says the u.s. is open to joining the discuss

china has been recycling for decades. he's made a living out of bashing, breaking up, and disassembling. he's been doing it for five years. it's hard work, he tells me. tiring. but he's not a green warrior. he does it because there's money in it. china needs the raw materials, so much so that chinese workers have been sorting through your waste, shipped in from abroad. but the government is stopping that. china has long been the destination for much of the world's waste. it imported 7.3 million tonnes of plastic alone in 2016. but most of that is ending, and here's why. china has become a much richer but much dirtier country. it's blighted now by home—made pollution and contamination on a vast scale. the government claims some foreign waste is dangerous and the last thing this country needs is even more of that. translation: china's ban is putting the onus back on all the waste exporting countries. you need to shoulder the responsibility of disposing your own waste and your own sources of pollution. the ban presents a p

berea between china and europe and such was one part of. micro strategy in china to say europe is now an important trade partner for to sign off and we have to discuss to find a new way kubrick and so that was the first part. the second part it was about risky procedure the thing you you try you you export it all to you rob we want to. have a more balanced trade we view it's a complicated story it would be it would take time let me just jump in there because you talk about a european strategy is there rarely a common european approach to china other i think we we have to keep this in mind it's something we have to. discuss we have to think about because. we know that micron market on the other that does kids around that and we we want to. you know the discussion we we've seen in europe for the last. was last year in both fifty thirty we have to replace threw up in the world and so that was one part of the of the strategy first part is was to to recover rather stronger growth and second part is to say we have an important partner for everyon

china takes a different approach. what they've tried to do is affect the decisionmakers themselves, to try to influence the policy choices that they make. >> let's dig down a little bit because obviously you are suggesting, in fact you have written for "the new yorker" that jared kushner is their connection. that's what you have reported. we know that jared kushner has had many meetings with the chinese ambassador to washington. is it the fact that he went in to those meetings without the usual support group, the experts, the note keepers, the note takers that worries you? >> well, that's exactly it. you know, in some sense national security 101 is that when you go into a meeting with a diplomat, particularly with a country that is perhaps not an american ally in this case. china occupies a space between being a partner, being a rival. you go in fully equipped with the best minds in the business. you go in with the top specialists in the u.s. government, you go in with note takers, you go in with people to relay a rel

micro strategy in china to say europe is now an important. part of the fourth sign off and we have to discuss to find a new way kubrick and so that was the first part the third one part it was about risky procedure the thing you you try you you export it all to you rob we want to. have a more balanced trade we view it's a complicated story it would be it would take time let me just jump in there because you talk about a european strategy is there really a common european approach to china other i think we we have to keep this in mind it's something we have to. discuss we have to think about because. we know that micron market on the other that these kids around that we we want to. you know the discussion we we've seen in europe for the last the polls last year and both fifty states we have to replace threw up in the world and so that was one part of the strategy first part is was to to recover rather stronger growth and second part is to say we have an important partner for everyone in the world because we are very high productivity level we

an investor from china appeared on the scene and took over the company the money from china kept the company afloat. in german hands. to his german. in the chinese province of henan he made a name for himself as an automotive supplier he had nothing to do with cranes. we ask if they prevention or regional strategy was behind his investment. tower cranes serves a prime market. we want to be our development centers. its products are intended for the european market and we want to manufacture all the other larger products in china. we'd like to receive support from the chinese government and the provincial government. to develop production in china and make the brand known their financial build a church that would be in keeping with the government's development strategy. for. the soul of this investment was made with support from the state so that. he doesn't reveal the exact amount but without that money would have gone bust but in another respect it cost the company dearly because the way germany builds cranes is now also known in china. technology transfers and state subsidized shopp

has with china. and a greater focus on reciprocity of business opportunities between them two countries. it is a reasonable assumption. there will be moves to redress that balance. where i think it is on -- connectedness the -- david: what are the potential hotspots? financials,us on the financial bank environment. we can see positive moods -- moves made by the chinese to provide greater access to both equity and fixed income market and the opportunity also to invest in these institutions and perhaps capitalize and recapitalize from that perspective. china wantedently the market to did -- to dictate more the movement of the yuan. is that significant or not? the chinese have been stepping back slightly by withdrawing last week and allowing market forces to drive the renminbi more actively. overall, it is likely the renminbi will gradually depreciate over this year, as we anticipate the economy to do the same. it is hard to guide the economy to a lower growth path while expecting depreciation. over the

china is on the move it has a historical claim to the south china sea roughly as though the united states would claim to on the gulf of mexico. china's belief they ancient and territorial right is the result of all of those voyages and as a result they owned that water space and the hydrocarbons under it. 80% of the pacific trade passes through the south china sea. to reinforce this claim they are building artificial islands and reefs. many of them. thousands and militarizing them. each one becomes an aircraft carrier for which china seeks to operate to reinforce their claim under international law. fortunately we have allies like japan which is increasing military spending and is more inclined to operate beside us. south korea. a booming economy, new presiden president, our allies are the heart of our maritime strategy and it is good we have them because we have an enormous tactical problem they are a strategic challenge. north korea. this is kim jong who kim jong who kim jong on because he is unstable and untested and morbidly obese addicted to opioids with a bad haircut. and he is buil

and given china's importance involving the career peninsula situation, any effort excluding china and trying to improve the relations done the korean peninsula may actually be futile, at least. what is your view of the current thawing of relations between north and south korea and both sides agreeing they will be participating in the upcoming winter olympics under one unified flag. the current direct dialogue and negotiations between dprk and are 0k, negotiations between dprk and are ok, focusing on their participation in the winter olympics, is important and a positive development. it is important to note that dprk has made no gesture at all towards denuclearisation of the korean peninsula. they strictly limit their discussions with rok negotiations regarding the winter olympics and there is no indication at all that as far as nuclear weapons are concerned on the korean peninsula there is any positive step forward. of course rok has insisted the peaceful negotiations and dialogue for the winter olympics will be helpful for the eventual effort as denuclearisation, but dprk has taken a

and china. cliff: the risk has been developing under president obama but really got on jet skis under president trump. the u.s. is in retrenchment, and china loves a vacuum. president xi jinping has declared that china will be a takeraker, not a rule moving forward. trade, writing checks, lashing out at big companies. not imposing their values on other countries. it is an increasingly appealing model. laura: you say that it is more appealing, china's political model, than america's. what could that mean in the coming year? cliff: first of all, there is polling data to show that. as china rises, america and its allies are going to start to bristle as to whether it is in trade, the south china sea, there are lots of potential flashpoints. china's systemic structural rise creates preconditions for conflicts in a number of areas. laura: you also talk about accidental risk, how this retreat by america could lead to things happening, and you particularly talk about north korea. what are you worried ab

and china is the biggest importer of that. in 2016, the country took in 27% of global scrap imports. plastic is one of the most environmentally damaging materials, yet plastic production is expected to grow by 40% over the next decade. china's clampdown will have a major impact on recycling around the world, as danny vincent reports from hong kong. is the, this may be where plastic waste and up. —— recycling in hong kong. but recyclers must now change the way they process this waste because of china's new ban on used plastic waste products. hong kong has been set a new challenge when it comes to dealing with plastic waste. right now, the majority of this goes to men in china but that could be set to change. but the policy change also represents an opportunity for waste recyclers. it means big business. hong kong has a relatively underdeveloped recycling sector, activists are hoping that the ban will encourage hong kong companies to do more to develop the industry. this man is the founder of community—based recycling prog

china manages its exchange rate. in the past, the yuan faced one-way appreciation pressure and the government had to buy u.s. treasuries to lean against that yuan appreciation pressure. in the last few years, we see the yuan goes up and down and the government is more about the market playing the leading role in moving the currency. that means we don't have accumulation of fx reserves or accumulation automatically of u.s. treasuries and that is what we are seeing in the data. inis not some change geopolitical strategy. it is not the use of fx reserves as a doomsday threat to the u.s., it is just a change in the way managed -- china manages its exchange rate and the path toward fx river -- reserves and treasury purchases. yvonne: speaking of treasury holdings by china, i want to bring up this chart. haslinda: it says treasury curved drop. thee is always alarm in market when there is indication china may cut down its treasury purchases. can other countries like japan pick up the slack? that is a good question. china an

authorities in china and south korea areauthorities in china ah korea are increasing oversight and cryptocurrency trading and mining. the sec started cracking down on some digital sales known as ico's. bitcoin slumped as much asbitco, the most in more than two weeks. china's in her region has admitted inflating key economic data. it is a latest blow to the campaign to improve the quality of statistics. the region revised down the industrial outlook by 40% to $45 billion, while fiscal revenue was 26% lower than first reported. last year, it had faked data for three years from 2011. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. let's take a closer look at the fifth straight record rise for the s&p. corporate earnings are the big focus, as well as a fresh round of economic numbers. let'snow a little bit of compln in terms of the direction of the u.s. dollar. su keenan has more with a mixed close today. weak. started out fairly it looked like we were barely moving in the s&p 500 and we got a record gain. also, seeing some

i was appointed china editor at the end of 2013 and i went to china in early 2014, so i was the china editor of the four years, and at the time the director of news felt that china was an undercover story a great big chunk of history that it was quite difficult to get across in daily news agendas and i'iews across in daily news agendas and news bulletins and it needed a more strategic approach. i had myself... well, my first experience in china was in 1985 as a teacher but i joined the bbc in 19 eight d7 and i we nt joined the bbc in 19 eight d7 and i went to beijing as a correspondent for the bbc in the early 90s, 1991 for the bbc in the early 90s,1991 -- 1987. i had for the bbc in the early 90s,1991 “1987. i had a long experience of reporting on china because even when i was back here as a percent of the news channel i would go to china every year to report. i speak mandarin and have a chinese degree as well as two other academic qualifications. i have a long experience of a country that is going through enormous change, which we all know, the prime minister obviously being there

all that rubbish — china bans the import of waste. so where will all of the garbage go and what businesses are most affected? and we look at how china will plans to shake up the oil futures market, but will foreign traders buy it? happy new year, and welcome to asia business report live from singapore. did you know that china has been the biggest importer of foreign rubbish? everything from paper waste, textiles to used plastic is sent to china for recycling. but not any more. these imports are now banned because beijing is trying to clean up because beijing is trying to clean up the country's environment and improve public health. but the ban will disrupt billions of dollars in trade. in 2016, china imported $18 billion in waste. from hong kong, danny vincent reports. recycling in hong kong — this is where plastic waste ends up. used plastic near and far. recyclers must change the way waste is processed. china's has introduced a ban on recycling products. hong kong has a challenge when it comes to dealing with plastic waste. right

he's been overseeing the signing of several trade deals with china's president xi jinping macra has been pushing for french companies to have a greater access to the world's biggest population especially a nuclear power aerospace and food from a bride has more from beijing china and france are hailing this visit as a new era for strategic partners. she didn't paying and emanuel mccraw signing multi-billion dollar trade deals from aerospace to nuclear energy projects and reaching what they say is common consensus on a range of issues from climate change to international security. we have made an agreement to improve global issues we are faced with climate change and terrorism china will be working together with france so we can have a win win situation and develop a new strategy that helps everyone in the world we have both agreed to have open and deep communications macross says his visit is a recognition of china's role on the world stage and she's preeminent position as chinese leader this is mark rance first state visit to china as president and he wants the trip to become an ann

china. rishaad: tom mackenzie joining us from beijing. coming up, assessing the concept of "business as usual" in china with foreign companies not feeling the love. in china chairman joins us next. this is bloomberg. ♪ rishaad: you are back with. "bloomberg markets." i'm rishaad salamat in hong kong. haidi: i'm haidi lun. exxon mobil ready to invest $50 billion in the next five years, bringing its spending back to levels before the oil route, with prices now around $65 in new york. darren woods disclosed the program that includes the basin west texas and new mexico, a focus of u.s. shale drilling, where exxon has been aggressively expanding for years. he says the republican tax plan has also fueled their plans. rishaad: revlon on the up in late trading. downhief executive stepped from a company struggling with losses. garcia had been in the jobless than two years. he is leaving to pursue other opportunities and plans to push sales to $5 billion from the current less than $3 billion. at fou

and china. they surface again with trump telling china's leader to tell them that the growing deficit is not sustainable. china is bracing for more backlash on trade? tom: they realize that the rhetoric is being ramped up again in washington. they know now that this is coming out of the white house and the administration from officials there suggesting that they're going to be taking a tougher line and of course they are aware that president trump has failed to reduce the deficit with china and with 2016 increasing u.s. dollars, they will have missed that the u.s. is taking a tougher line on these deals. the trade with beijing is being blocked as well. all of those things are being weighed by officials here. the chinese are being very clear, they're saying it tariffs are imposed, they will retaliate , and therein lies the risk. >> indonesia and the stock exchange was evacuated. this after the floor of the building's level one in tower two collapsed. they said that several people had been hurt. w

let's turn to china. china's economy expected to show a pickup. correspondent,na tom mackenzie joins us for more. what are investors likely going to be focus on -- focused on? squarely in focus will be the for your number, six point 8% is the estimate for 2017. is the estimate for 2017. the fourth quarter number is expected to stop from the previous number of 6.7%. below that number you will get the likes of retail sales that will pick up 10.2% of the month of december in line with what you got for november. we will get industrial production for the number of 6.1%, also study -- steady. up 7.1xpected to come in percent. that would be the slowest pickup in fixed asset investment since 1999. we have a terminal g #btv 6323 that shows the monthly gdp tracker put out by bloomberg. the yellow line is the tractor. it is moderating somewhat. we did hear from him saying he expects growth and could top six point 9%. talking about strength in corporate profits, household incomes, fiscal revenues, those the -- those details that could propel. they are looking

china is in defence —— china is investing in jokowi's china is in defence —— china is investing injokowi's infrastructure push. it is building trains here. it wa nts to push. it is building trains here. it wants to maintain that relationship and is not officially a claimant in the south china sea because of this and indonesia buys weapons and has recently bought military hardware from russia. it is playing a careful game here to keep everybody happy. you're watching newsday on the bbc. still to come on the programme: the 0scar nominations and fantasy romance the shape of water leads this year's field with 13 nominations. also on the programme. tributes to hugh masekela, whose music gave voice to the struggles of south africa during apartheid. the people of saigon have just heard that, at last, there is to be a ceasefire. the reaction of american servicemen was predictable. i'm going home. demonstrators waiting for mike gatting and his rebel cricket team were attacked with tear gas and set upon by police dogs. anti—apartheid campaigners say they will carry on the protests throughout the t

china and to china's neighbors. china has been encircled ever since the one nine hundred fifty s. ever since the cold war and now with the cold war and we seem to see a second rise of this very encircled and the china with the activities going on with the actions going around china and china need to respond and the chinese military has always been an armed a kind of a military arm of the c.p.c. and in this sense the military is spawns presidency's response was in very much a condom a coordinated in a coordination of this very response towards a incoming crisis situation lasted just briefly lastly and briefly if we can at this time you say of heightened tensions the month of thing in decades what do you think it's going to take as we enter a new year to actually calm that now. well i think china has been reaching out to different parties involved in this very crisis situation and china has been working closely with our south korea important areas. including the most recent presidential visit to china in negotiating and in consulting the various parties involved and also china i bel

. conference in china. foreign combat troops left afghanistan in 201a. troops left afghanistan in 201a. their control and they are now openly active in 70% of afghanistan. openly active in 70% of afghanistan. we have been to helmand province, where the taliban are most active. the police are returning fire. this is the front line, and it shows how volatile it is. gunshot. the police are returning fire. this is the front line, and it shows how volatile it is. to prove their presence, even during the daytime. that fled the fighting in the neighbouring districts. of the ongoing fighting. each of them has lost loved ones and family members. where the afghan police are stopping the taliban from entering the city. the sons of so and so. from falling to the taliban. but not many have come back from the dead. civilians are taking the brunt of the fighting here. and bombed by the americans from the sky. but there are signs that a family was living here not long ago. this blown up teapot tells me what they must have

the entire world has its eye set on china and china has its eye set on the entire world in two thousand and three tome university research has developed the shanghai ranking the most media tightest the most controversial and the most followed ranking report worldwide a world ranking based on the number of nobel prizes fields medals and publications in scientific journals the united's. it's clearly dominates the ranking among the top hundred there out of the fifty american universities eighteen dish for french and four german. so i'm afraid international rankings are important and i sound afraid because i absolutely hate them but in some parts of the world in particular they all count it rankings. as good god all the stuff in and out of here dion's from sean proved he couldn't this question if one could really and us up on us didn't. dodge any president and off track is often up till the end and raking in sit what's your one and. only phone via houghton. from the sun totted does ring can of gone from country to even up until friday up vegas and instead would see on the mentioned bill did