i think this did affect to mary mary how miracle viewed china. china was there for germany and china was there for europe during the europe crisis. and she, i don't think she's ever forgotten that politically and economically, it was all systems go. and then hamburg, trade was booming in both directions. it soon became part of china's massive belt and wrote infrastructure plan for china. all these trading investment also had profound strategic meaning for the development of its own economy and technologies . if you think about the 3 big industry areas within the 3 lead business areas in germany, it's machine building, it's automotive and it's of course, climate technology, all of which china wanted. they wanted to kind of innovative capacity that germany can deliver in terms of its are indeed german universities and research bodies jumped on the bandwagon tooth. there was huge growth in partnerships in science and technology. macros approach seem to be working at the gateway with china was proving to be a wonder drug helping to fix the euro. crisis. teaching germany's economy to the

i think people know a lot more by china now and how they view china has changed whether china cares about us. i still think that it wants the olympics to be a success and it's very important for china's and international image that the olympics it should be a success. so i think they, they definitely do care about it. one thing that i'm trying to think about is and contacts historical context out when have the games thing boycotted am and when have people talked about it and decided against it? boycotts are an interesting one. a lot. some people say that are just don't work at all and some people say that can actually make things happen. i mean, we saw that the boycott of south africa ultimately led to apartheid em, near the end of apartheid am and by isolating south africa that way, am with ad china because of its international power. am boycotting is very difficult because china holds a lot of the economic power so that people are loath to to go for a full boycott. i think boycott cambia effective. definitely. and indeed china boycotted the 1980 olympics in moscow. the u. s. lead boycot

produces, china produces three. the use of ai in life in china for things like facial record nation and other things is already widespread. they are the only country right now that has ethical regulations on the use of artificial intelligence. i think china is going to do white well in terms of adaptation -- quite well in terms of adaptation and integration into society. more broadly, i think a lot of people miss that artificial intelligence, or the intent of ai, is to remove humans from the workforce. that has always been the dream of ai. the long-term effects is going to be a fundamental change to the way we think of work, and the role of human labor and human capital in society. that is something that i think philosophically we will have to grapple with. rishaad: thank you so much. brett king from moven joining us. coming up, a look at china's latest covid outbreak, threatening economic growth. at the same time, the global supply chain as well. looking at that, on the way. this is bloomberg. ♪ rishaad: emerging

what's next for china? and germany, you take a closer look at where this complex relationship is headed. plus cashing in on commode national park. indonesia wants to develop a real life jurassic park, but conservation is say, it puts the dragons in danger. ah, i melissa chan, thanks for joining us today. friday mark's 50 years of diplomatic relations between germany and the people's republic of china. 1972 bauder don't was still alive, and the cultural revolution was actually in full swing. a decade earlier, china had experienced one of the worst man made disasters in human history. a communist party produced famine that killed 25 to 35000000 people, if not more. how much things have changed? now, it is asia's great power. the world's 2nd largest economy with more billionaires than any other country in the world. it is the european union's largest trading partner, which puts germany at the center of this globally critical relationship. d. w. richard walker examines where things go from here, between berlin

the china policy also include of course, the carbon emissions agenda. china repeatedly stress pledges to peak carbon emission by 2030 and then trolley by 20. 60 will certainly continue to follow how those policies play out in the new year. boom bus. kristi, i thank you for your insight gift and we can't talk about the problem of ram, but inflation without touching on how people are expected to pay for the rising cost of goods. the pressure is being felt over in the united kingdom as manufacturing industry group make u k release data. on monday from a recent survey which found only 2 percent of companies involve had frozen pay this year. the same survey last year found about a 3rd of respondents had done so, and the majority of pay increases have been around 2 to 3 percent well below what the inflation rate is currently which is sitting above 5 percent expected to get much worse in the u. k, the high end for wage increases is 14 percent, but that is few and far between. as of now, this all comes amid the backdrop of skilled labor shortage. a minimum wage increase and depending tax incr

and china actually economy grew in china in the, during the pandemic. and now it's declining in the last quarter. so i think while the world now is dealing with on the kron in an open way at china might question it's 0 strategy. okay, we'll have to leave it there. would be talking about china and only call, i hope we're giving you plenty of food to fall to who have to come back next time until then. bye bye. and choose a with who. ah ah, it's vital, essential, important, and obviously healthy water. the motto is, drink lots of it, but it's not always good for you. to water also be harmful among refreshing answers to old water man. good shape. 30 minutes on d, w. o. to the dark side where intelligence agencies are pulling the strings, there was a before 911 and after 911, he says after 911, the clubs came off. where organized crime rules were conglomerates make their own laws? what's true, what's vague? it doesn't matter. the only criteria is worked, we'll hook people up. we shed light on the opaque world. who's behind the benefits. and why are they a th

china's bidi beat out china. the parent company of ali pei had grown into a giant. >> from the china perspective, jack ma was a huge threat. >> only days before antwerp was officially about to launch -- >> they put the brakes on the ipa. this is a stunning turn of events. >> all of a sudden, everything came to a screeching halt. >> by all reporting, president xi jinping personally intervened by stopping it is ipo from going forward. >> were growing resources still reeling? >> there were growing questions about china's billionaire jack ma. >> where is ma? >> ma had given a speech accusing regulators of stifling innovation only ten days before ant's planned ipo. >> you can't do that. if xi believed he could challenge the chinese leadership and ultimately the party itself, then the entire edifice of control in china was amiss. >> they had convinced other tech companies to grow largely unregulated for a decade. they had created the wild west in which the government had little say. >> they have perceived to have masse

then china has decision. i can say i'll give up to live to fight another way or i can try to escalate this. they lost in the immediate battle and they can do that, they could blow some tankers in the middle east but have probably not matter that much. or they could see launch nuclear strikes in america in we're really going to be angry and we can impose costs back on them by then that context it will be the ones are been what i think of as the burden of escalation. they are going to seem like the aggressor and the bad guy and we will be, fdr talked about our righteous might or the flashing sort of anger or vengeance i should say. that's not going to end well for them either. that kind of mixture is the right for emphasizing to his right strategy plus the right strategy for the american people. we can't have a strategy that relies on acceptance risks with a think about how we would get there. >> we're going to go to audience questions next. i want to hit you with one more because of one mature we talked about

anyway, china also says hi, join my partner, china, you're part of china. i don't think people should judge without all effect before them. if people have not done for research and do not know what's really going on, they should not get on the high horse and points a finger at others. i don't believe in pointing fingers and so righteousness. well, you have answered my question, have you ever raised an eyebrow about the human rights vacuum that exists on the mainland? have you that's not my business to point a finger at the situation in the meantime. you know, my business as a hong kong legislator is. ringback to look after the human rights situation and the welfare of my people. and one of the most important rights of hong kong people is to write the rights to quit hosting. that's priority number one for me as while community at the moment. if you want to an example regina emp, of rights being road back in hong kong look no further than last month, new style election to your legislative council, which was announced by china's parliament last march. china's

and let me ask you a question about china. i mean, could china's economic worries be beneficial? do you think to smaller economies? because cobra 19 indeed has highlighted the risk of concentrating supply chains in china, hasn't it? of course. and i mean, latin america has a huge role to play for potential near shoring for us manufacturers. right. and that was the buzzword since the beginning of the pandemic, right? could companies relocate to the region, but that doesn't come, you know, without its own challenges around logistical infrastructure, around human rights issues, which are also prevalent in latin america and around the cost of doing business in the region and the bureaucracy and overcoming some of those country risks of investing in latin america. so of course there's, you know, a strong emphasis from words and governments, particularly those with very close commercial links to the united states and with existing manufacturing infrastructure to increase on that. but this will be a very uneven development in terms of which countries from benefits or not from near assur

states which include russia, of course, on china. i just going to say, here, allow this to keep on going before they start to militarily engage with the warships, nato nations ascending to all these places and, and armaments. i don't see the shanghai corporation organization, wonderful organization that is actually challenging the power united states. and it's obviously a bit of an arm wrestle going on at the moment about control of the c lanes in the south china sea and so on. that's principally between the united states and china and, and as well, those 2 countries will have to decide what level of competition they're ready to engage in. and how much further they're willing to go. the 1st one is actually taiwan. and again, let's hope that has been assigned to say that a peaceful solution to i don't see major deep disagreement can be found, but i don't see united states wandering around the world destabilizing places in the south china sea. it is protecting international see ways which are open to everyone. i mean, some believe in t

new pressure on china tech. investors changed the channel on netflix after its new customer forecast disappoints. shares plunging after hours. haidi: let's get straight to the start of trading in sydney. it's looking like a downcast day as sydney stocks extending the weeks that -- gain. we are seeing 3/10 of 1% lower when it comes to the staggered open. a pullback in oil weighing on energy stocks. we are trading the lowest in seven months when it comes to kiwi stocks. the aussie dollar was outperformer. we saw dollar strength edging higher. this is the picture when it comes to chicago nikkei futures. the alert level for covid-19 for tokyo has been raised to the highest amid expectations of us like going into next week. -- a spike going into next week. shery: in china, there is a lot of debate as to whether the countries covid strategy and latest outbreak poses a risk to supply chain. the biden administration is monitoring real-time data from businesses operating in china to determine the impact the u.s.. our coa

not in china in chinese legal coach lounge. you know, basically yes, the authorities to basically yeah, i china doesn't have that issue because they can just exercise eminent domain and people out of their fields. i'm not saying that's good, but it definitely enabled, you know, the development of that now. 2013 china had built 10000 kilometers of high speed rail, just about the total amount currently in use in the whole of europe. and it doesn't have to worry about profitability. many lines are running at huge operating losses . why? politics? of course, i think the numbers for themselves, it's not economically viable in the near term or even the medium term there's gotta be something else going on. right. and i think that thinking of those hinterlands of china, like changing into bat that you mentioned is you know, more part of belton road initiative type of program with, you know, clear geopolitical goals alongside economic one, china's high feed story has been so successful that trains could actually dominate commercial trav

the, china's story is nowhere near the end. the country is aiming to double its high speed network by 2035, taking 827-0000 kilometers of trucks. as if that weren't enough, the government recently made a big splash or on the roll out of its fastest maglev train. you heard that right? magnetic levitation which goes up to 600 kilometers an hour. it's the world's fastest land vehicle. so can other countries do the same it will not in my life. i mean, the biggest issue in europe is the fragmentation, different approaches with blink is all looking at the right bit and not seeing the big picture, or it has its own rail agency, but it has no legal power to regulate projects or enforce deadlines. this makes cross border coordination of schedules and fairs. kind of a mass. ah say you wanted to go from madrid to rome by high speed train. you need 4 different ones to get there. barcelona paris tour and then rome. the whole chip will take you over 49 hours and you'll have to book each like separately from different providers. ah, shanghai

so china is coming out ahead in that respect as global dependence has now shifted back to china from places like se, asia that it's still recovering from their virus outbreak. and the cloud sure. now there's also another aspect of the whole china situation, which is that china has obviously face tensions with daily recently as well. but export to the nation still rose 24.2 percent, while import surge to 40 percent with the 2 sides actually in the are step agreement, which is the world's largest trek agreement. are these tensions more public facing than going to be actually economic yes, i think in this case brent economic realities trumping political posturing. and it's kind of analogous to president trump's relatively inconsequential efforts through the tariff war to rein china. trade in the latest figures clearly show that that was not done on a sustained basis. and likewise, the australian government has been subjected to considerable risk constraints by chinese efforts to limit bali imports, etc. but those have also not had the desired result. because in december, the australian

we know this family has ties to china. we ought to have information so we know how biden is making his choices as the acting of the best interest of american families or the acting and best interest of the biden family. got to get to the facts or ought to be transparency. you look at everything but the biden administration they do not want to give information rick tell people all the time do not trust in the information that comes on the biden administration. at the section of homeland security to the border is secure, we know it is not come on, quit lying to us. then they do not want to give us information i am on homeland security senator johnson guess what, the chair, gary peters is not due to any investigation of binding is an all expense for the biden so we get no information. >> the results are affecting the american people. i have been to the border three times. i am about too go for a fourth time. i have seen it with my eyes up close and personal, 2 million people apprehended at the border this year, and the last y

due to the epidemic control in many parts of china. at the same time, china is facing nomic headwinds, including the shrinking population of poverty sector, slow down their local government debt. it's a big challenge for the authorities to boost market confidence while maintain the 0 cov it strategy. we've been hearing about the concern there is outside of china about what impact it's measures could have on global trade exactly. what sort of effect could it have? well, china, us economy has been the main local motive of global growth in the last few years. and china is likely to remain the world's leading exporter for the near future, with strong external demand for things like consumer electronics, furniture, and other home comforts. but now millions of small and family owned private on businesses have crumbled. during the pandemic, we could expect renew disruption of supply chains. and the slowing chinese economy would certainly be a new hit to the global recovery. and if the slow down were to be serious enough, some experts worried

why we seeing that change from china? morning rob, i think china has several priorities here. the 1st one is, is, is energy security. it's an obsession with china as well as with most government. and how's that sound is a key part in the ensuring that china has enough oil and natural gas. one 5th of its natural gas comes from context on or through cars next on bad quantities, but all are coming through there. so they need as much stability as possible there . and i think another thing which change them is the fact that russia intervened. russia and china hubs, what you'd call it best, a fractious relationship, but at the moment it's a salo does. it's going to ever be on there. i think the fact that russia was able to intervene meant that china was able to be a bit more vocal and how it felt about what was going on there. and also, as it was mentioned in the word, the word in the report, the words color revolution can have a chilling effect in china because it's always afraid of a popular uprising over throwing power. so once overturning its government in china . so once you ha

china. nicaragua, recently switched diplomatic ties from taiwan to beijing. our latin america editor lucio newman reports. ah, this was daniel ortega's 4th consecutive swearing in ceremony flanked by his wife, reciting moody you his vice president. he vowed to improve conditions in nicaragua, the 2nd poor's country in the americas, after haiti, red won't resort. we are here again with a clean slate, to build peace, to assure that nicaraguans have a dignified life to eradicate property in this country with sovereignty and freedom . the presidents of cuba and venezuela were there and also delegations from iran, bolivia, russia, and china. but ortega was snubbed by almost every one else. november's presidential elections have been dismissed as illegitimate by much of the international community. the majority of ortega's competitors were imprisoned, so they could not run, and thousands of others have gone into exile and legitimacy. it's not an issue for ortega and he managed to essentially consu

and that would have been devastating for china's financial economy. the law that this was threatened was during the trade war dispute with crop. so now the c i p. s is currently laying out the technical groundwork to prepare for the internationalization of the r m b. so as of now the average daily transaction volume is c, i p. s. reach $49000000000.00 in august with $1144.00 indirect participating banks in a $103.00 countries. so the global use of the r and b is still quite small compared to the actual size of the chinese economy, but it is growing steadily and the r and b is now hit a 6 year high in terms of popularity with cross border payments. so as popularity as an international currency, steady lead climbed in the last decade as global funds boosted their holdings of chinese bonds to a record amount. and this is slowly eroding away at the dollar and euro domains, which saw it's 8 month market share fall. so it seemed like china has finally reached this critical mass, big enough for it to try to accomplish something like this. and if executed cor

— sense the current situation is good for china? thank you for havin: good for china? thank you for having me _ good for china? thank you for having me on. _ good for china? thank you for having me on. my— good for china? thank you for i having me on. my understanding is that the current situation, if it is not too bad for china because if you look at it from the chinese perspective, much of the us focus during the barn administration has been on the strategic competition with china. right now with the developments in ukraine there has been a lot more us attention as well as western intention on russia, ukraine and the west. this temporarily leaves from the tension that was currently focused on china. but i think your question also is too if situations to escalate and if we do see a russian invasion of ukraine or a conflict over ukraine, that could put china in a much more difficult spot. i5 could put china in a much more difficult spot.— difficult spot. is there a sense that _ difficult spot. is there a sense that china - difficult spot. is there a sense that chin

and china is tesla 2nd biggest market after the u. s. and mosque has worked to foster a close relationship. earlier i spoke with allison steward allen, she c e o of the consulting firm, international marketing partners. i asked about mosques, decision to open, and she and john and how risky was, here's what she said. it is risky. and so this is a person that is famous for taking big risks. the question is, is he flaring the law? ah, now technically no, because he could argue that he's not importing ah, components that will make their way back to the united states, which would then violate u. s. law. what he is doing, however, is retailing in china or so he will claim and therefore there's nothing wrong with retailing in the zip. jang profits. however, there is a problem if you using the components. the question really for corporate leaders is about trust and does what he's doing by opening his 200 and 11th show room in china. in this particular province, does this compromise people's trust in the tesla brand. at the same time, even the s

in the south china sea, china is a continuing challenge for the united states. as china rises as an economic power, it remains an important market for u.s. companies. the conflict between china and united states. there are other actors you talk about which we will hopefully get to, ram, russia, they play in the book, too. the conflict between china and the united states is the heart of it. what should be our approach towards china and how do we avoid military come from -- confrontation that might be. what will happen if we are not smarter towards our policy towards china and the united people don't find common ground to work together on the challenges and are more confrontational going forward. are we in a cold war? james: let me start with the book, if i may. it is set in 2034. you have read -- written a work of predictive fiction. this is a work of cautionary fiction. i wrote this book specifically to show that both the united states and china can make mistakes. can make miscalculation that can lead to loss of control of the ladder of escalation that leads to

so why the different ending and what is china's message? and it's often called the world's largest annual human migration. but this year to travel in china ahead of lunar new year is impacted back over restrictions. we have an update from beijing. ah, i british manager, welcome to the dublin news asia. glad you could join us. called hollywood film fight club has a new ending, but only in china. it's a form of chinese censorship. we'll be looking at in detail in a moment, but for those of you who don't know which film i'm talking about, just a quick look. i want you to hit me as hard as you can. this is how i'm that tyler do me any here. let me start a new. you can't dive for insomnia. what about narcolepsy? not often wake up in strange places. so i make an issue. so tyler durden it came out in 1999. and as you saw it, stars brad pitt and edward norton. now here's a spoiler alert, those will seem the film. no, it ends with the norton's character killing his alter ego, tyler played by brad pitt, and then destroying multiple buildings. but tha

he could live room position between the western china. now, i haven't seen you much on british media, it has to be said, but during the kazakhstan appalling atrocities in our mighty and so on with so many people died. what did you think when again, we had the same kind of anonymous briefing, that same report is telling us, you know, the fact that the, the russian troops have been invited together. it's done. we'll create tensions between beijing in moscow. where do you think such a geopolitical analysis emerges from again, i agree with you. like the briefing, what the newspaper said felt to me to be pretty ignorant and prejudiced. i mean, obviously the russians will assist you were invited supply troops to back up because ext on government, they went there. now leaving, it seems to me in international terms have been entirely defensible operation. and on the position of the chinese, i would guess the chinese, i would guess that russia and china and since improve their relations if they were unprovable. there's also because china has lots

is it just that india is concerned about opening up to china? was that the main bone of contention here, or was there more to it? ok, so i can really speak for india, but i think what you just said is probably the most likely reason. i think there was concerns about chinese goods flooding the indian market. but i think more generally the curren mowdy administration is not yet fully convinced of the benefits of liberalization. india has a tendency to judge every free trade agreement, in terms of its bilateral surplus or deficit. that is a wrong way to go about it. that is a very old ma capitalistic view of trade policy and it's still hanging onto that idea. and i think unfortunate li them already and ministration is starting to reverse. some of the good works that have been done over the last couple of decades in moving india forward towards more liberal and open economy. so i think this fear of china, but it's part of a broader distrust of liberalization. and judging every free trade agreement as to whether it adds the trade surplus as being goo

dana: let's talk about china a little bit. just a few days the limericks will begin in china. we are in year three of the pandemic. way back when his first becoming publicized it was happening, you took a lot of flak from some when you suggested it might've been a wuhan lab leak. even the "washington post" corrected that peremptory were gratified by that. i want to ask you, doesn't matter kind of now more than ever we get to the bottom of how this happened? even while china is about how this great propaganda opportunity to show the world they can host an olympics even though they unleash this. >> it very much does, dana. a couple years ago now that i first said maybe the virus came from that lab. i did not even asserted as fact i just said it's a question we should ask whether it came from this food market that do not even have bats present. or maybe it came from the lab a few blocks down the street where they researched novel coronavirus that originated in baths under the leadership of a scientist whose name was really the fat lady pretty course the democrats in the media con

do you think china is in a position to do that? >> i do think china is in a position to do it. whether they do it or not is another question. we are talking about, when restrictions are gradually removed, ensuring that people are safe so they have the high-quality face masks they need, which china should certainly be able to provide, and that ventilation is improved. ventilation in places of work and manufacturing centers, but also homes, restaurants, bars, theaters, and so on. that is going to require effort making sure proper ventilation is in place and ensuring that people do you always wear high-quality facemasks. with omicron it is so transmissible that it is typical to maintain a zero covid policy. we see 1.5% of the population in lockdown and that is with only 200 or 300 reported cases a day. there are probably even more cases than are being reported as omicron spreads. it will get harder to maintain that zero covid policy. >> we were talking about the areas affected by the continuing presence of the virus. the industrial city of tianjin is going into its third week. how

-china trade war and the uncertainty of tech companies in china has also led to a national flow of interest. rishaad: thank you so much for joining us, giving us an overview of private equity for 2022. looking here also at what has been going on in solar, just in seoul, we have the bank of korea's governor talking about they might buy government bonds saying that they do see an underlying recovery in consumption, and that does remain despite the covid outbreak we are seeing currently and the fed has not that much real bearing on where they go next. haslinda: we are going to leave it there for the moment, but bloomberg subscribers can continue watching at live go. this is bloomberg. ♪ rishaad: china's covid containment strategy has been challenged by the fast spreading omicron variant, and it could mean further impact on supply chains. give us your rationale. >> i think it is worth reflecting that for all that we worried about supply chains in the past year, nearly 29% of the manufacturing value added occurs in china alone and china has not really been affected by any of this stuff so far.

>> yeah, i think that the main concern especially in china the -- the china -- the lunar new year and the beijing olympics in february. so i think the current rates will continue this month. and hopefully from february or the second quarter. but as you mentioned it's not only about samsung electronics. micrno is also operating the facility in xian. that's something positive on the company. but could be better on the supply demand balance and the pricing environment. sherry: do the positive drivers for samsung apply to micrno or sk h -- hynki and others? >> the global supply issue, i think it's the most -- yeah, it's a risk and an opportunity. the reason fire case in that is something we have to see. but could be some delay in the cumulative delivery in the second half this year. so we will have to see. paul: s.k. kim, executive director and capital market. let's get to the headlines. >> new york city is said to gets its first significant snowstorm with as much as five inches. boston will get eight inches. and public schools will close on friday the storm is part of a larger system tha

how much of it can china take? i think you're right, the 1st one, the defense is keeping the virus out of the community and the longer that you can do that that the more time you have without any cases it is the best. but then when deb outbreaks, you can, you can see there's very disruptive intervention which are very costly. and as these occur more frequently and take longer to control, i would say the case for 0 cove, it is less concrete than maybe it was in the past. and at the same time, the vaccine coverage and the mainland is going up and up and up that doing that, those is now. so i think that would be a time where they could choose to switch over to another strategy away from 0 cobit but so far. they've shown no sign of, of planning, exit. i'd like to talk about some of the other countries which were following until recently, a similar approach to china's essentially the 0 corporate approach. countries like australia, new zealand, singapore, taiwan, to some extent, results doing that. but then they've all s

you could say just between china and western world, and i think china just really wants to show that they can pull this off successfully. i think they want to show that they can have a more successful winter olympics than the summer olympics. that just happened last year. until you know, that was was of course also distracted by coping. but i think they're really show that their strategy of, of cove is 0, is the right strategy and, and the big contrast of the rest of the world and how, you know cove, it has really ripped through a lot of society that hasn't happened here. china since 2 years ago, and i think they really want that to be the case going through the rush, the february march, jonathan chang from the wall street journal, speaking to us from beijing. thank you very much, jonathan. i'm trying let's get a round up of some other world headlines now. the sudanese protest who was killed on sunday during demonstrations against the military that brings the tally of death since the military crew. in october 2, 62, the united nations has called 4 talks between military leaders and p

can china maintain it? zill covered strategy. the handful of infections is enough to trigger new lockdown restrictions on travel. how will leaders in beijing view the followed on the economy and the lives of one and a half 1000000000 chinese? this is inside story. ah, ah, hello and welcome to the program, rob madison. how many countries have abandoned the aim of stopping all covered 19 infections? as the on the chronic delta variance was spread across the world, most governments have avoided re imposing locked ons and travel dance, but not in china. where the corona virus was 1st detected in 2019, china's 1st locally transmitted alma con case was found in beijing where the winter olympics start in less than 3 weeks. now that's prompted health workers to seal off the patients residential, compound, and workplace with our colleagues. still inside a 130 kilometers away in change in 20 infections triggered mass testing for the whole population of 14000000 people. another 13000000 in g and remained stuck in their homes after a handful

iphone sales in china grew 21%. if there was an area of weakness, it was in japan where sales fell by $1 billion. we also got limited commentary on the outlook that the company does expect strong year on year growth in the march quarter, but for growth to drop off quarter on quarter from the end of 2021. there was also some guidance on margins, which compared to past performance, do look strong, boosted by services, though, of course, apple does not discuss the breakdown of margin or mix when it comes to different products, but things look bright for apple as they go into a big year for 2022. rishaad: breakdown thereof apple's results. apple has a wealth of supplies in this part of the world. several names rising on a rising tide for apple, which was up over 5% during the after hours session. we look also at them saying they have overcome their supply crunch and really trounced estimates. let's take a look at energy markets. coming up, we are looking at the oil rally. it is gathering pace. the opec-plus meeting taki

even within china, it is restrictive. let's not forget china is a big population country. hospital capacity could not allow the covid outbreak to be massive. the whole hospital system could collapse and non-covid patients could not be treated. i really think that for such state population countries with not massive hospital capacity, this is not a bad choice. shery: how much will it weigh on growth? we continue to see more down growth for economic forecasts in china. >> we see a slower economic growth in china because of the direction set by xi jinping. but also -- the forecast is around 5% from the gdp on the year on year basis. we have to add back some of that. these extra covid measures use extra labor. moving labor from one industry into the covid prevention industry. shery: what about the property sector? we continue to get signals perhaps the government wants to consolidate this pace. we are already headed for another record year of default. what would that mean for the credit market? >> for the credit market, it means default is ongoing. those who have defaulted, th

i think this is much more important than china might, but china is saying publicly. might, but china is saying ublicl . , ., publicly. there is also the ever present _ publicly. there is also the ever present situation - publicly. there is also the ever present situation ofl publicly. there is also the l ever present situation of oil and obviously, russia is very central to that and the nord stream two, a lot of talk about that in europe and germany and the us saying it will not go ahead if they invade ukraine but obviously china also has interests in this field, doesn't it?— interests in this field, doesn't it? . ~ ., ., ., doesn't it? talk through that a little bit. sure, _ doesn't it? talk through that a little bit. sure, actually, - doesn't it? talk through that a little bit. sure, actually, it- little bit. sure, actually, it is expected that when putin visits beijing next week, their most important agreement but could be signed between russia and china would be a contract for the so—called power subarea two natural gas pipeline that would go from western siberia through mong

let's talk for a moment about china because china has been on the march,s it seems to have a strategy and a plan and momentum. what should americans really know from behind the scenes about china, its ambitions and its goals? finish. >> well, jason, you've been a strong advocate for rising to the threat of china, and certainly that is what we need to do. this administration, as marsha blackburn was just saying, has a decision to make as to how we invest in our military capabilities, in our technology capabilities to counter what china is doing. china's investing in its military, trying to exceed the united states and our military capabilities so that they can hold us at bay in technology, they're investing in technology in part to advance their surveillance society by which they use their authoritarian powers to repress their people. but also to reach outside of china and to affect those who, democracies like ourselves, that they see as a threat. this president has an opportunity to hold them at bay and make america strong, and he needs to commit himself to that now. jason: president

the balance of power has significantly shifted to china's military. we are not moving quickly enough in the near term, i know we are advancing technology in terms of research and development for the future and advanced technology and we need to do that and i give them credit for the defense budget to accommodate that, congress of course did that over the biden administration but in near term, we need to put military capacity in the region to return to an effective deterrence, we do not want china's military to be incentivized and given intimidation coercion that's going to continue to go on with taiwan and other countries in the region, we don't want them to feel they can get away with something dealing with taiwan and fast by the military deterrence and movement capacity into the region we have is critical. we are not moving fast enough to do that. paul: general, i want to talk about hong kong here because what china did was basically break a treaty signed with britain to give economy to hong kong for 50 years. an international treaty. i don't think

in china, there are very few. and china's commitment to its zero covid strategy remains as strong as ever. translation: china's overall situation remains stable - and regional clusters of locally transmitted cases can be effectively controlled within a short period of time. and this is what effective control means in practice. they discovered three asymptomatic cases — three — and that is led, within a very short period of time to a city with overi million people being shutdown. zero covid means lockdowns. it means testing on a huge scale. it means disinfecting public transport ahead of a busy travel season. it means quarantine camps for those suspected of having covid. as well as that, officials are warning against ordering things from overseas. they believe omicron may have arrived in beijing via infected mailfrom canada. there is even a hamster cull in hong kong after cases were traced to a pet shop. the virus may have first been identified in china but, as you can see, it very much wants to keep it out now

where is china? number one, an official ideology, china is ruled by an official marxist ideology with so-called chinese characteristics. two, a single political party led by one man. well, there is one and only one party in china, the communist party led by one and only one man, who has been elevated to the status of a demagogue like mao. three, a second police. beijing depends upon a police force supervised by the communist party and directed against all so-called enemies of the regime. in point of fact, the national network of forced labor camps still exists in china and is populated by untold numbers of political prisoners. number four, party control of mass communications. through the 90 million members and unlimited budget, the c.c.p. controls all means of mass communications, especially the social media. the majority of the china people know only what they read or see or hear on a government-run media. for them, for example, there is no such thing as the tiananmen square massacre. number five,

but not in china, where the corona virus was 1st detected in 2019. china's 1st locally transmitted on a con case was found in beijing where the winter olympics start in less than 3 weeks. now that's prompted health workers to seal off the patients residential, compound, and workplace with our colleagues. still inside a 130 kilometers away in change in 20 infections triggered mass testing for the whole population of 14000000 people. another 13000000 into an remained stuck in their homes after a handful of infections was detected 3 weeks ago. videos and social media have showed long queues for food. china's leaders are urging everyone to avoid traveling for traditional celebrations at the start of the lunar new year. but kenneth has more from hong kong, lead up to the olympic games and the lunar new year travel, the largest migration in the world. there have been several cur, on the chrome cases, a in that region tinge in being the focus of the outbreak containment control in the area. one case in beijing, which is near some olympic venues as well. so that's prompted whole range of new

another example of how china works. and it is important to point out, by the way, china is not expecting these political figures to walk with them on every single issue. they have a concept in their intelligence service that loosely translated means, big help, with little bad mouth. in other words as long as you them -- help them on lit big things that matter to them. another individual is feinstein the chairman of senate intelligence commenty, her husband has done millions of dollars of deals in china. bugg. and her husband was a partner with that chinese firm it say serious, deep problem on both sides of the aisle. mark: an eye-opening book, "red-handed" by peter swiez schweizer, a fantastic a allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! flonase all good. (vo) verizon is going ultra! and so is manny! event planning with our best business unlimited plan ever! with 5g ultra wideband now in many more cities and up to 10 times the spee