it's hard to imagine shannon or john or huawei being sent to india to work with people. i sort of got a picture of rising skilled manufacturing labor force that is international. our workers are not a part of it. they have been kept out of it. part of it, we do not believe in having industrial policy. we jumped in to the pre-trade agreements and globalization without thinking through how to prepare for the future and i hope that has been reversed. i think people are much more willing to talk about industrial policy and apprenticeships and partnerships between unions and community colleges to train the next generation. for a long time, capitalism and the program is the way it works. >> were gonna have to wrap up but i love the indictment of nafta and the critique and your book that comes from the characters. it is a gripping story, thank you sarah you been a wonderful interlocutor, thank you for jo

it's hard to imagine shannon or john or huawei being sent to india to work with people. i sort of got a picture of rising skilled manufacturing labor force that is international. our workers are not a part of it. they have been kept out of it. part of it, we do not believe in having industrial policy. we jumped in to the pre-trade agreements and globalization without thinking through how to prepare for the future and i hope that has been reversed. i think people are much more willing to talk about industrial policy and apprenticeships and partnerships between unions and community colleges to train the next generation. for a long time, capitalism and the program is the way it works. >> were gonna have to wrap up but i love the indictment of nafta and the critique and your book that comes from the characters. it is a gripping story, thank you sarah you been a wonderful interlocutor, thank you for

it's hard to imagine shannon or john or huawei being sent to india to work with people. i sort of got a picture of rising skilled manufacturing labor force that is international. our workers are not a part of it. they have been kept out of it. part of it, we do not believe in having industrial policy. we jumped in to the pre-trade agreements and globalization without thinking through how to prepare for the future and i hope that has been reversed. i think people are much more willing to talk about industrial policy and apprenticeships and partnerships between unions and community colleges to train the next generation. for a long time, capitalism and the program is the way it works. >> were gonna have to wrap up but i love the indictment of nafta and the critique and your book that comes from the characters. it is a gripping story, thank you sarah you been a wonderful interlocutor, thank you for joining the discussion. >> thank you so much for having me i cannot wait to read your book. >> thank you again. >> "after words" is available as a podcast. listen c-span.org/podca

we had at the end of september, huawei tech executive, mung one joe released after about 3 years of detention in canada. she was the under u. s. charges. so that was really seen as a positive thing from aging. and then also we had just last week, the surprise joint declaration at the end of the cop $26.00 conference between us and china, agreeing to work together to tackle climate change. so we have those positive movements at the same time, very real deep disagreements of reassures such as a south trying to see territory which china has pretty much claimed for itself. and also over taiwan, which beijing sees as red line issue, it sees taiwan as an all in that is part of china that will really inevitably be reunited with taiwan. and in recent months, we've seen under the body and administration, various gestures tools, taiwan, encouraging closest as well. so they're all very real difficulties. but there is hope that there will be common ground. i think the 2 things to remember in terms of these talks is that she and biden have known each other for years now since the obama administration, so

that is the offshoot of huawei. samsung is not shipping cars. that was an increase of 14% in the third quarter. the president saying they achieved strong growth momentum despite challenges of semiconductor shortages, revenues beat forecasts and deliveries were 14% higher. they defied the chip shortages. >> what about the regulatory crackdown? >> yes. they are spending a lot to diversify offerings. there is a broad on bella overhang of regulatory issues. usually against the bigger one. but also, the video sharing platforms have felt the pressure. also, when the tide goes out, those shares have sunk considerably since the february peak lost nearly 70%. it was also a narrower net loss. they are on a spending spree. >> stephen engle there. not toward bitcoin, the 100 day here. the s&p 500 is close to the highs this year. bitcoin is likely to do the same. let's get more from emily. tell us a little bit more about this relationship between bitcoin and other assets. >> we have been cora -- tracking the correlation. we found that the s&p 500 and going a

tensions were intensified a year later when in may 2019 the chinese telecoms giant huawei was added to a new us trade blacklist. big chinese semiconductor companies soon followed onto the list. then injanuary 2020 under the biden administration the two countries signed the first phase of a new trade deal. that delayed new tariffs, cooling things down slightly. and in may this year, the first trade talks of the biden era were held — between chinese vice—premier liu he and us trade representative katherine tai. many tariffs still remained but the exchange was described as "candid and constructive". so what can we expect now? christine mcdaniel is senior research fellow at mercatus center. a warm welcome to the programme. and christine, i note that you have worked in the us treasury department, in the us treasury department, in the white house, in their council of economic advisers. so you have some real insight into the views within the white house about china. what are your expectations following this virtual meeting? argue by havin: this virtual meeting? argue by having me- — thi

has so-called private corporations like huawei to do their bidding. another example hit closer to home. in 2016, a chinese company with c.c.p. ties tried to buy a hotel in san diego. well, the hotel has a view of the naval base of san diego, the home port for the pacific fleet. the deal was ultimately block, but the fact of such a transparent attempt to keep eye on our forces is a cause for concern. china is building artificial islands in the disputed south china sea. many in this body will recall when in 2015 stood next to president obama and lied and said that china does not intend to militarize those islands. he broke his pledge within a year. along with this geographic expansion, president xi is investing in china's military. according to the center for strategic and international studies, china now spends nearly three times as much on the people's liberation army as they did just ten years ago. they now have the world's largest navy in terms of total number of ships. the title the u.s. held two years ago. china's navy currently numbers about 355

china is trying to sell is not only its goods and services around the globe, it's not the matter of huawei trying to compete with european telecom companies, they are also trying to sell their goodwill and their form of government, their authoritarianism. part of the way they do that is not just based saying, hey come our way is great. i do not think that is exactly how it happens. part of the way that it happens is through economic end of element alliances. such that for example, taking money. if you are in a country in africa or latin america or southeast asia, taking assistance were money from china often comes with no strings attached. that means they tend to look the other way if a dictatorial leader in a nation is mistreating his or her people. there are just no strings attached. we are not going to call you out on that or sanction you. whereas with united states, because we are promoting our values of democracy and human rights, when we engage with patients we often expect them to hold certain values consistent with our own. what china is saying is, we are not asking any thing of yo

huawei now has 20 percent because economies said wait a minute, let's not let that happen and let's encourage lots of countries to diversify their partnerships and even chinese companies are saying are telling their own leadership wait a minute. you force us to identify too much with the chinese base we lose business opportunities abroad and therefore we can actually not become global influential companies so you got to price this down. there's a nonlinearity to all this stuff that tends to not be acknowledged when we posit some kind of inexorable new cold war on technology. >> let me follow up on the previous question by taking you back to your connectivity written pre-pandemic. and in many ways new you anticipated the kind of world where dealing with now where we just are into this world of virtual connectivity including today's profession about a book which normally would have been a pleasant chat among a bunch of us in northwest washington politics and prose bookstore. and has now turned into something were obviously i'm speaking to you from washington and you're in singapore now and i do

ultimately i think what china is trying to sell is not only goods and services around the world, not just huawei and other companies competing with u.s. and telecom companies, they're also trying to sell their goodwill and their form of government, their authoritarianism and part of the way they do that is not by just saying our way is great, i don't think that's how it happens at all. part of the way it happens is through economic alliances and development alliances, such that, for example, if you're in a country, perhaps, in africa or latin america or southeast asia, taking assistance or money from china often comes with no strings attached. that means they tend to look the other way if a dictatorial leader is mistreating their people. there's no strings attached. we're not going to call you out or sanction you financially. with the united states, as i mentioned, because we're promoting values of democracy, freedom and human rights, when we engage with nations, we often expect them to hold certain values consistent with our own values, and so what china is saying is, hey, we're not asking anyt

. >> as most people think about your company they think of the rivals, fnokia and huawei as well but how do we think about your competitors down the track as you branch into this new area? >> you're right. we're opening the door to some other competitors. but we also see we bring quite a lot of assets with a network understanding, the csp relationships that we can define this market of 5g network apis and if we -- we can succeed that i think you'll look at ericsson in a different way in a few years time. >> it it feels as though a bandi has been ripped off in this telecommunications we've seen what you do, and kkr appears to be circling do you think we are seeing a very different approach in the sector because of the opportunities around 5g and other technologies >> that's a great question i wonder if it's not only coincidence that it will happen at the same time but i do think that we have a very solid core business, a great core business that we invest in and we'll develop and continue to develop. but the reality is, it's also clear we need to expand our total available market so w

had issues with huawei but qualcomm believed all the way through that their r&d with patented technologies to win out and trying to tell this story of expansion beyond the smartphone and then the smartphone booming and nobody's paying attention to that but focusing on the phone itself similar to apple where a couple years back they started to talk more about services. over time that's a story that the street is willing to embrace. when phones are making that much money the street will focus on phones but now beyond phones with the partnerships of bmw and others that he is talking about. >> it is paying off handsomely thank you. >> have you been a karate guy? >> no. i threw a punch in my whole life and broke my hand doing it. >> not one of these guys. >> a lover not a fighter. >> college athletes capitalize off the fame for the first time but are they prepared to manage this much new income sharon epperson takes a look ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way f

sanctions, you had huawei selling its high-end smartphone business to a state owned company. how do you view that, and would you consider sanctions? gina: the sanctions are out of my remit, so i will refer you to the treasury secretary. we are first and foremost committed to protecting american industry and workers and national security. we have to use every tool at our toolbox to make sure american technology isn't used by the chinese in ways that are at odds with our national security. so, we are very serious about that and will do what is necessary in order to protect americans. haslinda: one final question and that has to do with the chip sector. we know that the u.s. is trying to get data on chip manufacturing. how will that help build a more resilient supply chain, and are you concerned other countries would adopt a similar policy, getting data from u.s. company? gina: i am the person who is leading that effort and i did it after companies -- consultations with companies who told us there is a lack of transparency, the producer is saying where's the chip ghosn, they inc

know that actually, you're very international in many ways, shapes and forms you've got a deal with huawei, for example, where you can go on one of their travel apps, i was on it today, looking. this probably opens you up to millions and millions of travelers. >> so the key of that proposition that we offer is that we compare across all the different websites that you mentioned, and across all the hotels and apartments that are out there, so it's a very very easy way to really get transparencies of what is on offer and where to book it and that's really the value that we're adding. liz: well, we're really looking at vaccination rates, i'm sure you are too. how key are increasing vaccination rates to travelers and the numbers scaling up? >> it's absolutely crucial. to be honest, it is the single- most important metric because we are now, particularly now, we're seeing that cases are increasing everywhere in the northern hemisphere unexpectedly and the countries that do have and the regions that do have a high vaccination rate face much much lower mortality rate right now, and that is what i

allowed to occur simply because of cost advantages and certain assumptions that can also change so huawei had 35 percent and now it has 27 percent because the economy spoke up and said why do we not let that happen let's encourage lots of countries to diversify and even chinese companies are saying they're telling their own veleadership that they say wait a minute, when you force us to identify too much with the chinese space we lose business opportunities abroad and therefore we can't actually become influential global companies anymore so you've got to hike this down so there's a nonlinearity to all this stuff that cannot be acknowledged when we pull some kind of cold war on technology. >> let me follow up on the previous question by taking you back to your book connect our graffiti written pre-pandemic. and yet in many ways you anticipated the kind of world we live in now where it's into this world of virtual connectivity including today's secession about your book which normally would have been a pleasant chat among a bunch of us in northwest washington at the politics and prosebookst

we are concerned about a way -- huawei. we do not want it to be installing the 5g systems for the united states or other countries as well. but it is not china's fault that america itself does not have a company that can compete with huawei. other companies say, what should we install? we say, we will put together a public-private coalition for you. that one is not on china. we have hundreds of thousands of chinese stem students in american universities, in phd programs, in physics, and computer science, and chemistry. if we were to send them home tomorrow, we have equal numbers of qualified americans who are pursuing phd's in those fields? no, we don't. that is not on china, that is on us. a big piece of this has to be starting with reinvestment in the united states, with strengthening the education system, with infrastructure, support for r&d, as well as institutions, if we are going to compete. yes, it is a story of china's growth and growing strength, but it is also a story of american underperformance. i think the amer

we are concerned about a way -- huawei. we do not want it to be installing the 5g systems for the united states or other countries as well. but it is not china's fault that america itself does not have a company that can compete with huawei. other companies say, what should we install? we say, we will put together a public-private coalition for you. that one is not on china. we have hundreds of thousands of chinese stem students in american universities, in phd programs, in physics, and computer science, and chemistry. if we were to send them home tomorrow, we have equal numbers of qualified americans who are pursuing phd's in those fields? no, we don't. that is not on china, that is on us. a big piece of this has to be starting with reinvestment in the united states, with strengthening the education system, with infrastructure, support for r&d, as well as institutions, if we are going to compete. yes, it is a story of china's growth and growing strength, but it is also a story of american underperformance. i think the amer

different headwinds, not just supply chain constraints but increase competition from the offshoot of huawei. so not surprisingly xiaomi shares are down. and 24th -- 25,000,666 vehicles sold in the calendar third quarter -- 25,666, achieving strong road momentum despite challenges of semiconductor shortages. they did it in spite of that. the space in china is surging, the projection is for doubling of shipment of ev villain -- ev vehicles. there were hundreds of players back in the turn of the last century with the american automobile industry. rishaad: stephen engle there. looking at the turkish lira after it plunged to a low of more than 13 against the dollar. the country central banks saying unhealthy price formations are unrealistic and detached from fundamentals. take a look at el salvador and his plans for a billion-dollar bitcoin fine, investors are worried that the president's move to sell sovereign bitcoin bonds closes the door on a deal with the imf. criticizing the policies including the adoption of bitcoin as legal tender. china wanted to stop the malicious hype against the tenni

after what | china did with the canadians and then got the woman from huawei released effectively back to china it looks to some governments like it worked so you can argue whether it is right or wrong but for then it is a very useful weapon.— is right or wrong but for then it is a very useful weapon. what richard ratcliffe's campaign _ a very useful weapon. what richard ratcliffe's campaign is _ a very useful weapon. what richard ratcliffe's campaign is saying i a very useful weapon. what richard ratcliffe's campaign is saying if i ratcliffe's campaign is saying if you can cite the historic debt on the tanks which is something the british government accepted oaths, thatjust british government accepted oaths, that just changes things, british government accepted oaths, thatjust changes things, changes the atmosphere and allows the iranians to claim there is a linkage. now we don't know if that is correct. it is entirely possible the deck to be paid and the iranians would find another reason. we just simply don't know where the politics would be at at that stage but as you can see the

there is also the putting to rest to huawei episode, with her being released from her extradition process to the united states and canada. that obviously pleased to the chinese. but again, i am sure they will be talking about the south china sea, uighurs, maybe hong kong, but taiwan will be the focal point because there has been a lot of rhetoric from both sides about the tensions circulating about taiwan. haslinda: taiwan, a deep red line. still unclear, where does congress stand on this china bill? it aimed to vanquish in the house. stephen: $250 billion earmarked for domestic semiconductor manufacturing to counter the shortage of semiconductors, but the rise in china's spending on strategic high-tech. $52 billion for the domestic semiconductor industry, $190 billion or so for r&d to various institutions. it passed the senate in june but has languished since in the house, and we are hearing from chuck schumer that he would like to see that that spending bill perhaps added to a pentagon measure, which has to be approved every year and has wide, broad bipartisan support. if you hit t -- h

keep it going especially if you add it to some of the other signs of progress there was the release of huawei cfo in canada. the administration's decision to hold off on new tariffs and chinese regulators looking at rule changes to block chinese companies to list overseas there's also xi's crackdown on the tech sector. it is unlikely that the talks to impact beijing's broader objectives coming to the domestic tech giants most of the biggest chinese tech names are ending the session weaker alibaba was higher and also fallen into negative territory back to you. >> thank you we await conclusions from the summit tonight very closely. >>> 13 f filings coming out and david tepper let's get to leslie picker on those. >> hey, wilf that rush at the deadline today for managers to disclose the positions as of the end of the quarter in september for david tepper cut the stake in amazon by 44% at the end of the quarter. up nearly doubled stake in macy's to hold $159 million. and hafled the stake in micron to $200 million. also interestingly we were digging through core of x filings and disclosing a new pu

time when we have seen some easing of tension between the two sides with the september release of the huawei cfo. not to mention, of course, that agreement on cooperation during the u.n. climate talks glasgow. so we will wait to see what the outcome is. but we have seen expectations being title -- dial down for this meeting, especially from president biden's team, that this is really meant to set guardrails in the deepening areas of conflict. we continue to see those issues around what's happening with taiwan, china's xi jinping being very assertive on that front. let's discuss all of this with our chief north asia correspondent stephen engle in hong kong. what can we expect today? stephen: it will be several hours of hashing out the issues that have really dodged this relationship to the trump administration -- to the trump administration and now the first year of the biden administration because they have not relax the tariffs that the trump administration put on. there are claims backed up by bloomberg data that china has not necessarily met its obligations in the trade went trade deal th

today -- to name a few important issues biden has folded on he build out huawei and refuses to investigate the origins of coronavirus or hold china accountable for its actions. mr. speaker, i'm going to tell you another story. this is a personal story with your leadership and ours. many of us had the pleasure and the honor of going to the 75th anniversary of d-day. i think every american should go. read the headstones. the ages. the thousands upon thousands of americans who all died in a short time frame. you look at the stars of david and the crosses. when i traveled with our speaker, nancy pelosi, and as we flew in in a helicopter we went down the path with the doors open. you wonder about those brave men. still saw the guns of the germans. they had to land and they were shooting ducks and they had to climb up and they were just being shot one after another. so young. but their children's children are proud of them. when i looked at those headstones, i looked at the speaker, and i wondered, what could america have done before then that would not have lost their lives? what could we have

our charges have been dismissed, including those of a professor at ut knoxville, and of course, the huawei case is there. so this is in spite of the fact that director wray recently testified that the fbi opens a new chinese espionage investigation every 12 hours. so are there apparent failures of the initiative? is it a lack of leadership? or is it a compromised position with the administration? is it incompetence? >> every case is evaluated on its own with respect to the law and the facts. we continue to open cases involving the people's republic of china daily, as the director said. we will not in any way let up our concerns about -- >> okay. all right, i want to move on. i'm glad to know you're not going to go soft on china because this administration is going soft on china. on your directive, going back to the school board association and the directive you sent out. the nsba has apologized. are you planning to apologize to parents of this country? moms and dads. >> there is nothing in this memorandum that any parent should be concerned about. >> there's a lot that parents should be co

charges have been dismissed, including those of a ut professor at ut knoxville, and of course, the huawei case is there. so this is in spite of the fact that director wray recently testified that the fbi opens a new chinese espionage investigation every 12 hours. so are there apparent failures of the initiative? is it a lack of leadership? or is it a compromised position with the administration? is it incompetence? >> every case is evaluated on its own with respect to the law and the facts. we continue to open cases involving the people's republic of china daily, as the director said. we will not in any way let up our concerns about -- >> okay. all right, i want to move on. i'm glad to know you're not going to go soft on china because this administration is going soft on china. on your directive, going back to the school board association and the directive that you sent out. the nsba has apologized. are you planning to apologize to the parents of this country? moms and dads. >> there is nothing in this memorandum that any parent should be concerned about. >> there's a lot that parents sho