it made millions of people homeowners in china. it's project sprang up in every province selling appointments, years before they were built. but in august of last year, the chinese government imposed new borrowing limits to crack down on debt and rain in and inflated property market. with the grown of ours pandemic pushing down sales, the heavily indebted firm began selling of assets at large discounts that further alarmed investors and since shares plunging. ah, let's introduce, i guess, in london we have garrath lever, senior economist and capital economics in beijing, vic to go check the best suited university and also vice president at the center for china and globalization. and in old orchard beach, that's a town and main of the us, adam hersh, visiting economist at the economic policy institute. very well, welcome to you all. let's start to make sense and beijing. mr. gow, how do you think this is going to play out? is ever grand destined to default? well, 1st of all, ever grants. problem right now is one of the biggest finan

it was part of china. it was returned to china. and when you have a years worth of riots in the street, which are being heralded by the united states by britain, no one says any words about it, there's just kind of tut tut, isn't a terrible period. so you know, you want to put a rosy face on this thing and say that somehow these people, but is it a coincidence that tibet, taiwan, hong kong, shin, drunk south china seas. these are all areas literally surrounding china, which are being used to attack it. and this is what you have in china. china is retreating, and you're getting the exact opposite of what you were aiming at by attacking it. china is in fact being more defensive and be why, because the u. s. and everybody else says that china is terrible. you cannot deny the daily drumbeat of nonsense that comes out of the press there. where is the evidence hallway? where is the evidence? i mean, all the evidence was passed by great britain, by germany, by everybody. but under pressure the united states, they all withdrew and said ok,

. >> china seems to be gaining background. their sales are roughly flat in china. they beat consistent -- consensus estimates. the shortfall we saw in fiscal q1 was in india where we believe it was due to not having enough supply. shery: senior e-commerce and retail analyst poonam goyal with the latest on nike. be sure to tune in to bloomberg radio to hear more from the day's big newsmakers and get in-depth analysis from the daybreak team. now broadcasting live from our studio in hong kong. listen via the app, radio plus, or bloombergradio.com. plenty more ahead. stay with us. ♪ >> emphasizing different environmental issues and what that means in a different geological and local context and we want to prove that. it is not some altruistic philanthropic work. we want to reveal that after our investment because of our work, we transfer this company into creating more impact with quantitative data, yes. paul: that was the sylvan group managing partner speaking there. you can watch more from his interview with bloomberg's has linda on and on the new season of generat

edit has put pressure on china and its officials but when it comes down to it, china doesn't care. they are big enough and i think xi jinping has the political will and enough consolidation of power to make it happen, and that is where they are at right now. >> a lot of the activists that you speak to must be very concerned that china is getting away with whatever it wants and grandpa xi jinping is doing whatever he wants. is that a concern for them that radical voices are becoming lost? >> i think this is a fact we are already seeing over the last few years, especially after hong kong becomes one of the biggest targets for that crackdown, and the extreme level of measures that china is willing to impose on hong kong, bypassing the system that is supposed to exist under the one country, two system. those inside china who have been experiencing this heavy-handed treatment since the early 90's, they are basically pessimistic about how the outside world has any influence and leverage to lessen some of the struggles that they are facing. we are seeing different injustice being imposed.

he didn't mention china specifically. he didn't say the word china. he did mention -- he did not call out china specifically. but the message was clear. we want to really display a difference between what the u.s. is pursuing and what china is pursuing and to try to get nations around the world to take the u.s. seriously again from a -- from a foreign policy perspective. haidi: what is the rhetoric we hear when it comes to a coordinated effort in so far that we haven't seen before to get the world vaccinated? >> right. so tomorrow there will be a vaccination summit that biden will also participate in. and we have reported that the u.s. has pledged to increase the amount of veerches that it -- vaccines that it sends around the world. the shushes has sent the most amount of vaccines around the world and cystsized for vaccines that lay waste because there aren't enough people who want it in the united states. whereas there's countries around the world still clamoring for it. and so what we're expecting tomorrow to see is a real commitment by the united s

bloomberg's stephen engle spoke yum china yum china to --spoke to yum china's joey wat. >> the first 10,000 stores took us 30 years. we will definitely do the next 10 thousands much faster. if we look at our new store opening numbers in 2016 and 2020, we doubled the number of new stores. when the growth of the chinese economy stayed at modest growth rates, the store opening has gone up -- the new store opening number has gone up there and why ? because of agility and innovation. in the past, investment gold was 3 million plus and right now, we can do it at one million, 2 million, 3 million. it is very flexible and we just look at the location, and we have our model going to that. evergrande -- stephen: supply chain digitalization, what does that look like to you? joey: we can't go backwards. we are looking at store digitalization. but what about the supply-side, the digital linkage between a store and the supply chain? that is how we can really improve productivity of our supply chain, because we are one of the few companies that, we have our own supply chain, our own trucks, our own

host: you mentioned china. many voices within the administration saying this is not about china, but a lot of the reporting says it was. i want to play some comments from the defense secretary that he made wednesday about the agreement. his perspective and then we will get yours. [video clip] >> this is not aimed at anything or anyone. the intent here is to help improve our trilateral cooperation and our cockle -- and our capabilities across the board. the first step is to focus on helping australia acquire a nuclear powered submarine capability, and we are going to work on that going forward and that's exciting and it is exciting because it will provide australia additional flexibility and capability and i think will be very beneficial to all of us going forward. but we will continue to explore many of the things that you just mentioned in terms of greater and more frequent engagement, air capabilities, more training opportunities for ground forces, and increasing our logistical footprint and australia as well

i think if you want right on china, gambling and plans in china, what could be better? liz: thank you, my friend. we will see you next time. there is the closing bell for this friday and for the week. green on the green. kudlow is next. ♪♪ larry: hello, welcome to kudlow, i am larry kudlow. earlier today president biden told us everything and massive spending plan is paid for. really? are you sure, mr. president? will have to dig in a bit on that. first, the size of the spending plan is not 3.5 trillion. scored by the cbo on a ten year basis, it's going to be at least four and aal

minors were in china. and even though they've all moved out and their physical location isn't in china, the biggest mining pools are still chinese. so i think it's safe to say that no one in china is taking these bands seriously, or at least they're finding a very clever way around it. and once again, that's the beautiful thing about big coin. you can't ban it, it's peer to peer. so if you have a willing and able counter party to trade it, you don't need to go through a financial institution of payment company or any other middle man. in fact, by doing this, china is actually proving bitcoin capabilities the way it was really design and meant to be used to actually instilling better habits than people here in the us who are still reliant on the convenience of things. i coin base pay power, robin hood. yeah, maybe maybe they're going and all of those announcements about the crackdown to think that eventually people will start listening if they just get to the 20th or the 30th time around and it continues to

on china's slowdown. goldman sachs thinks exciting over that and other global cyclical risks is looking overdone. the outlook is looking less friendly going into 22. they do see in improving outlook for japanese stocks. one play on goldman, they are looking to recommend shorting forty-year booms. the ecb wilt caper -- will taper in the next corner. kathleen: our next guest is suggesting a new playbook for central banks. joining us now is kristin forbes. previously an external member of the bank of england monetary policy committee. unofficial attendee at the recent kansas city fed economic symposium. in terms of this new playbook, got to go fast. you don't know when you need to start raising rates. there is so much focus on the jobs report tomorrow. what is the place for the fed of jobs and jobs growth in this new playbook? kristin: the traditional playbook is still very much the one that we are following. they want to see the labor market recovery. that is the big unknown right now. the fed estimates tha

against china. that was the case brought by the philippines and then we have no other countries in the region, vietnam, malaysia, all of which also threatens that, a china to the world court. so that's a problem that china has with it with its neighbors. and then of course, there is the big 900 pound gorilla in the road, which is the origin zip code. and you know, in millions upon millions of people have died all over the world. trillions upon trillions of trillions of economic value has been destroyed. and then needs to be some sort of a proper inquiry about lenny said chime and has become your response to me phone or our silly, silly accusations against other states. and there's no help the rest of the world, which has an right to find out about the origin. but my child gets to the bottom of george and i have talked many, many times about this. it looks like the by the ministration is not particularly interested in finding out about that. here, joe, let me go back to you. i mean, this is not an id

so much of western media loves to talk about china, criticize china, but very rarely do they talk to the chinese themselves. you are very notable media media figure in china and across the world. so i would like your thoughts about this new strategic alliance that is supposedly not directed against china. go ahead and basing and computer for the invitation. i'm speaking my personal, they have my personal capacity. so don't quote me as a special spence of the chinese government. so this deal is called a kind of security, a defense cooperation among the 3 countries. but i really don't think it fits into the notion of a cooperation because a co op and a cooperation is a word that has a relatively neutral and most preferably, constructive connotation. but there is nothing constructive in this deal. i would call it a secret deal of perfect the profiteering and provocation. why do i say that? it's a deal of poverty perfidy. as friends i said, you know, the united states, the u. k and australia. give friends a stab in the back and they feel a deal between france and australia and gave that

it is not an issue of going to china. china is coming to europe. they have invested in 10% of european ports. we have seen them doing exercises off the coasts of russia. europe does not have this mentality of sitting back and that it's far away but it is happening in their neighborhood. natassia: he spoke about the context of u.s. pulling out and playing back into certain parts particularly, in afghanistan. this is always a u.s. led mission that started with counterterrorism, became nationbuilding. europeans were always there because of this. out of solidarity with the u.s.. because this was always a washington initiative, why does the eu feel betrayed at the moment? >> i think it is because of the way the withdrawal was announced. there was consultations on an eventual withdrawal but i don't think there were consultations on the way that the timeframe withdrawal could occur over the summer. that caught everyone by surprise. it really showed that they have the choice of withdrawing on the u.s. timetable or not at all. that is a moment of strategic

it’s terms of trying to counter china's influences? it's quite a focus on — china's influences? it's quite a focus on defence _ china's influences? it's quite a focus on defence issues, i china's influences? it's quite l a focus on defence issues, and that will be an ongoing focus in relation to china. so, it's supporting and cooperating on military exercises. it's going to be an important process. the quad is keen to show... that's why you see the agenda of emerging around trade, health and so on. it wants to show the response, the quad can provide public goods. it's still a long way to go before it is capable of doing that, and when you look at china's response and how they are pushing forward, it's a tough game and china has advantages there. tam it's a tough game and china has advantages there. tom rafferty, thank ou advantages there. tom rafferty, thank you for _ advantages there. tom rafferty, thank you forjoining _ advantages there. tom rafferty, thank you forjoining us - advantages there. tom rafferty, thank you forjoining us on - thank you forjoining us on newsday. you'

china has sent a china as the west sees it? china has spent a great _ china as the west sees it? china has spent a great deal _ china as the west sees it? china has spent a great deal is _ china as the west sees it? china has spent a great deal is building - china as the west sees it? china has spent a great deal is building up - spent a great deal is building up its armed forces recently including its armed forces recently including its maritime armed forces, which is a relatively new development for china so from the acquisition of the second planned aircraft carrier to a substantial submarine fleet, and the militarisation of the south china sea and the steady acquisition of port facilities across the pacific, this presents a profile of a country that has a greatly increased capacity, and even if that capacity is not intended to be aggressive, it has given china the capacity to deny access, essentially, to other forces, because it poses a real threat, even to the us navy, which hitherto has been the most powerful in the world, and may still be but is nevertheless threatened by

largest— china have remained, china remains australia's largest trading _ china have remained, china remains australia's largest trading partner i australia's largest trading partner in support— australia's largest trading partner in support of— australia's largest trading partner in support of the _ australia's largest trading partner in support of the anxiety- australia's largest trading partner in support of the anxiety for- australia's largest trading partner| in support of the anxiety for some the australian— in support of the anxiety for some the australian economy _ in support of the anxiety for some the australian economy is - in support of the anxiety for some the australian economy is so - in support of the anxiety for some . the australian economy is so heavily reliaht oh— the australian economy is so heavily reliant on china, _ the australian economy is so heavily reliant on china, but _ the australian economy is so heavily reliant on china, but as _ the australian economy is so heavily reliant on china, but as security - reliant on china, but as security is so he

alliance surrounding china. on the surface, we see that the u. s. and the k is empowering australia to have the nuclear submarine . i think the under one key reason for this empowerment is the u. s. inability to provide more defense budget to support this large spending of nuclear power summaries. so it is forcing australia to share the costs of maintaining such ships and also strategic positions and also. ready forces into soap toilet b and also window pacific region especially now that. ready there is increasing tension between china and australia. so china is what you're very closely the next steps of the free country alliance. or trying to can perhaps rest assured though that the leaders in washington and cambra, not exactly bosom buddies. and when announcing the security deal president joe biden appeared to forget the name of australia's prime minister. mister scott morrison. thank you born and i want to thank that trouble down under thank you very much appreciated as to privacy while a while frustrating fr

and it's been a monster for some time in china. this idea that housing is for living not for speculation, is kind of a mantra, but the chinese government under teaching thing has been using and essentially what they're trying to say is look, we're tired of speculation. we're banks being overly leveraged. we're tired of the pricing of housing increasing and we want to get that back under control. so they are causing a huge contraction here, but it's by design. now, i don't think the chinese government necessarily wants this all to unravel too quickly. and they don't want to see a major collapse of these companies, but what they're not going to do is jump in and intervene because this is in many ways a shift that is of their own making or trying to create some of this. and they're trying to hit reset on the way that housing is being treated on the way that loans are given out. in fact, they've already kept loans for a lot of banks in terms of what they're allowed to loan out. and so as long as what we don't see are, are the mortgages

it is china's internal affairs. and if you have any, you know, complains or opinions, talk about it, you do that all the time. but to say that we need a military alliance to counter china. i think that is very far as, as far as the south china sea, at the end of the japanese occupation, it was american washer, that carry chinese soldiers to those islands which have been traditionally part of chinese territory. when you buy the maps of the south china sea in before this house out, china see the dispute started the 9 dotted line was there, nobody was contesting these water countries. i was claiming he's already already planning on building on these islands. china was forced to do whatever needs to protect its territory. the most important thing is these disputes between china and its neighbors that it has a dispute with and we are solving these issues the, the, the code of conduct, hang on to have. everybody talked a little brain. don't know, please don't tell me. going to james. i'm going to go to games. now. hang on

it is a very sobering for all people living and working in china or in the great china area who would be very mindful about the passports they are carrying. and whether that government gets into a spat as canada has with the chinese government and the length to which china seems to be prepared to go to defend what it, regardless it's national interest when it seems to be on the threat. we heard that from bang saying that her life has been turned upside down over the past few years, which i'm sure it has a can't be very nice, but she was, after all, as observers, points out on the house arrest most of that time spare a thought for the to michael's who for most of the past nearly 3 years have been held in solitary confinement for months on end. not being allowed access to canadian diplomats and one of the michael cobra. michael's favor, in fact, actually being sentenced to 11 years in prison for, for espionage. so them to be a lot of people living and working in china who will be extremely mindful of what they have been through mcbride. and so thank you for all of that. we'll stay with

but with china, i don't have any strength. you want tiktok? china says no. want to play call of duty? china says no. you want a cake for your birthday? china says no. >> trevor: i don't think china has banned birthday cakes. >> yeah, well, i ain't baking no damn birthday cake, so your present is that you're still alive. anyway, i got to go. there's a bunch of chinese people here who think i'm oprah and i'm going to enjoy every minute of it. ( speaking chinese ) >> trevor: good luck in china. when we come back, roy wood, jr. is going to do a fashion show just for us. just for us. don't want to miss it. have you tried crunching? crunching gave me resting fun face. crunching solved my tan lines and frown lines. 100% real milk chocolate and crispy rice really works. crunching solved my midlife crisis. start crunching today! one crispy kentucky fried chicken sandwich for you and a delicious crispy spicy one for whoever needs a little kick in the keister. get the kentucky fried chicken sandwich in classic or spicy for just $3.99. it's finger lickin' good! is now a

the china pakistan, economic court, or a $60000000000.00 project linking the arabian sea to china's land lock west and beach and access to the indian ocean cbo, see is critical to beijing as today. china is the world's top oil importer for existing 542000000 tons of crude oil in 2020 last year. 53 percent of china's crude oil imports came from the middle east and passed through the indian ocean. well, let's get some analysis with collin co, a research fellow at the asked roger raton. i'm school of international studies. he's joining us on skype from singapore. thank you. very much calling for being on counting the cost. china has been very strategic in the way to expanding a switch and in the indian ocean. what is it and game ultimately, i know want to ensure that is on national interest are being met. and i think in this sense, that continue express who the lines of communications that will guarantee and i interrupted excess energy supplies that he gets from the middle east and not a rico and lunch, expending it the mummy. each press in the region, especially even the investment an

i won't sugar on the south. china sea, taiwan and hong kong china position is.

basically, emerging markets ex china. it's not that we don't like china. it's just we would much prefer to take more of a security selection specific approach to investing their as opposed to a scattershot index approach because we think some of the bigger beneficiaries of this more -- if you want to call it egalitarian economic expansion they are trying to orchestrate here, is more on this cult -- on the smaller cap to mid-cap size. when you look at a lot of major indexes they are dominated by the major cap tech companies over there that are also in the crosshairs. haidi: tell us about some of your selective themes or names that could prosper from the common prosperity themes. themes that are not participating in the disorderly expansion of capital and order. guest: i cannot mention specific names but as far as the different sectors that we really like, they are more those geared towards consumers. if you think about if it is a more a gallon terrien lift to the economy, where is the common prosperity seems times to the consumer, anything that health care,

they're interfering in china's domestic affairs. aspects of proven china. not only a major engine for economic development and the region is also for stability and peace. china development represents a force for peace in the world and the regions development. let's go to katrina you who is life for us in beijing. katrina. where do these developments leave china's already strained relationship with australia all clearly this relationship is in a very bad state. we had a statement released earlier by the chinese embassy industry earlier. it echoed similar sentiments about non interference. and it also said that a strictly should handle its relationship with china in a genuinely independent manner, replying that they didn't really sees this move as australia, acting essentially as a porn of the united states in the region. now we had even stronger comments today, unsurprisingly on friday by the sensationalist chinese state media newspaper, the global times that had a front page article. and in that article it said that australia was really mocking itself out a

southeast asia's second-largest lender is focused on china going on a hiring spree. >> we know that china is now so much more linked with the rest of asia. the inter-asian trade is growing substantially. we do notice this opportunity. kathleen: the latest on the great storm caused by crane -- hurricane ida as it swept into the northeast region. edison saying that there are still more than 13,000 customers without power. however, they expect power in queens to be restored by midnight tonight. the bronx by 3:00 friday. 95% of the restoration by friday night. we are showing you cars getting stranded on roadways that were suddenly flooded that they could not move. the death toll, at least 40 now. this is one important step for people but there is still a lot of cleanup, as you can imagine. at least this part of it is getting done quickly by local authorities. let's take a look, moving from this to the jobs report. life goes on. the jobs report out tomorrow. it's the august numbers i want to show you. we are expecting again of around 750,000. that's the yellow line. the two blue bars, look at

to china.- ambassador to china. meng wanzhou left _ ambassador to china. meng wanzhou left canada - ambassador to china. meng wanzhou left canada on - ambassador to china. meng wanzhou left canada on an l ambassador to china. meng l wanzhou left canada on an air china flight bound for shands and but any prospect of a thaw any adversarial relationship between two united states and china may prove to be short lived. huawei remains in a trade blacklist and still faces charges of corporate espionage. earlier on we werejoined earlier on we were joined by mckenzie grey, a journalist with the canadian broadcaster. i asked him about a public response in canada to the release of the two michael. it's been wide sweeping. most canadians are very happy to see the two michaels home. this has been a big thorn in the side of re—elected prime ministerjustin trudeau, the election was just a couple of days ago. and we're seeing from his rivals, the leader of the conservative party, erin 0'toole, and the leader

or canada and china. i'm actually deeply concerned that this is potentially opening a, a dark new chapter in china's relations with the world. in the sense that we can clearly see that this is hushes diplomacy. and china can also see unfortunately, the hostage diplomacy works. yeah, there is, i guess that consequence. i'm wondering what you think all of the timing why this is happened now after 3 years of mung detention. what do you think lead to the us agreeing to the deferred prosecution in exchange for her admitting illegal conduct? that's an excellent question and i have to say that i really don't know how this happened at the moment. i saw 11 joe, come in today that she attributed her release to sort of the strength of the motherland, right? she attributed this to china strength. now, i suppose that sounds better than attributing her own release to a dictatorships decision to hold to people in indefinite arbitrary detention in her favor. but i genuinely fear right that the triumphal, his tone that we

what would a collapse of this company mean for china and the world? this is inside story. ♪ hello and welcome to the program. fears that one of china's biggest property developers could default on its debt are rippling through global markets. the vast group has outstanding debts of more than $300 billion. building work has stopped and several investors have stopped getting paid. the company entered a 30 day grace type to make an $83 million interest payment after missing a deadline. the default of such a large company would be unprecedented for china and could send the country's outsized real estate market into freefall. it has been compared to the collapse of the lehman brothers group in the u.s., preceding the 2008 financial crisis. their financial troubles are rooted in two of huge borrowing. the company took out several loans to rapidly grow its real estate portfolio and expand into other sectors. it made millions of people homeowners in china. the project sprang up in every province. in august of last year, the chinese government imposed new bo

the german public is souring on china, see china as more of a threat, think the eu should be stronger on human rights. i think it's pretty times ahead. rishaad: great to have you on. love to talk about. the olive branch between -- yvonne: potentially, the influential sister of kim jong-un has reached out to the south. in a statement, she said there is a mutual desire to recover relations and achieve peace. she had earlier said proposals to end the korean war wasn't interesting and good idea. australia's prime minister said states cannot keep borders closed once covert vaccination targets are reached. states where coronavirus cases are low have been reluctant to open to other areas. he said this will need to change when 80% of people are fully inoculated. the target should be reached before year end. elon musk has addressed china's rural internet conference, reassuring beijing about his commitment to expand their. the summit was hosted by the vice premier, delivering a promise from xi jinping that china will work with all countries. also participating remotely in the event are the ceos

south china sea. but there been a number of kind of military actions that have taken place in just the last couple of days that have been pretty serious. including the u. s. warship that traveled within 12 miles of a artificial chinese island in the south trying to see and china was furious about this so angry that some of his representatives as well as some of its state run newspapers, were calling for china to retaliate by simply sending war ships within 12 miles of us bases in the pacific as well as within 12 miles of different us allies. and then also there are reports of china actually sending the planes into ty, one's aerospace recently that happened just for the last 24 hours. so there been a number of these issues that have crept up. the problem right now for the vitamin administration is that they need to have a reset. because right now is china is leaning pretty heavily into this face to what the us can and cannot do. you know, we've talked a lot about that again and then what's happening th

there are issues between china and the u.k., china and the u.s., china and regional countries. we have the south china sea, we have global issues with china, and what they have done to the uighurs in western china. we see chinese influence in international institutions with the who, the wto. the question is, how do we deal with china? can we do a better job shaping their rise so it is within this international rules-based order that we set up in the wake of world war ii? china seems to want to upset it and craft it in its own image. to me, what we are both saying is the challenge with china and beijing. >> i was looking recently at some speech president xi had given. this question of the multilateral institutions and rules-based international order, their thinking as they were not there when they were being set up, so why should they abide by those rules? it is so difficult. a single party state is a completely different entity than the united kingdom or the united states or our democratic allies. i sometimes take the view that economic growth in china will be accompanied by de

the main reason for the alliance containing china, we spoke in detail about china as the stabilizing activities in beijing efforts to course and intimidate other countries. contrary to establish rules and norms, we will remain clear eyed and review a beijing's efforts to undermine the established international order. we discussed the competition of china at a number of levels that requires us to respond and to increase resilience. this does not mean that there are not constructive areas for engagement with china straight. it continues to seek dialogue with china without pre conditions. not surprisingly, beijing condemned both the alliance and the submarine deals. war war. the lee archive who attended the export of highly sensitive nuclear power. simmering technology by the united states and britain to australia once again proves that they are using nuclear exports as a tool of geopolitical games on adopting double standards, which is extremely irresponsible. agenda. diesel and washington journalists pummeled the ministers with questions about the security pack. is check in china's ef

but trust in china competence in she's in king warm towards china. they are all record lawyers in 2021. but the 2nd issue is that while most strangely and very supportive of our alliance with the united states, they are also losing facts in the united states and has found it to be less trustworthy. and president trump, who was very unpopular here in australia. finally, staley and jerry very, very anxious and opposed to nuclear weapons in australia. and so these things come together for the majority of us really, i think to be supportive of this new deal, but anxious about what it means. first railey is military in the future, and whether we might be dragged into the future was in our region. natasha really good to get your thoughts. natasha sam, speaking to a staff from sidney, from allowing institute. thank fabbing. the british prime minister boris johnson has been questioned about the orcus packed in parliament, his predecessor theresa may aust, if it could lead to the u. k. being dragged into a potential war between china and taiwan. what are the

numbers out of china china at a risk of double dipping right now. the debt bubble that seems to be bursting on the property side. seen how that plays out before very difficult to contain. world's largest consumer of basic materials and why you see commodity prices unravel and all of a sudden the inflation narrative will morph into deflation. i would say 100% right that buying the dip has definitely worked for the better part of 12, 18 months but to -- it is dangerous. >> based purely on the earlier point of valuations stretched if we talk about the s&p 500 nearly got a 5% pullback from recent highs today at the close what would be a decent bet for where this pullback could get to and still be a little bit expensive? >> the reason why the market came back later this afternoon let's talk about the s&p 500 because it was kissing the 100-day moving arch and support at the 100 day so when you tack about look at this a lot of it was just technical if we break below the 100 day and i think there's a good chance that will happen then you talk about the 200

inflation, not just tied to oil in china. they are seeing a huge surge in coal, aluminum prices, it reached a 13 year high. we have a chart of the one year gains. they are fairly dramatic. look at natural gas. it has more than doubled. when you look at the other raw materials, you can see how china is concerned. they are the most dependent on oil in that they are the largest importer. a lot of people are closely watching this. shery: we got the latest on oils and china strategic moves. joe biden will order executive branch employees, federal contractors and millions of health care workers to be vaccinated against covid. he directed his administration to come up with rules to mandate large companies to require shots or testing. >> some of the biggest companies are requiring this. american airlines, disney, tysons food, and even fox news. the bottom line is we will protect vaccinated workers from under coworkers. shery: let me understand us. the white house doesn't necessarily have the authority to mandate vaccinations national

the tax rate system in china will cooperate as well as for individuals. but if we think about why presidents using paying is pushing this common prosperity theme, i mean, is there a political element to it to does he want perhaps a 3rd term. i think he, he doesn't have to do anything for his time. he has changed the system that he can rover, continue sleep, so i think it is not the ball. domestic politics is more about the missing quality of people, especially those in and in the base of the pyramid. they, the government wants them to live in install does. it's closer to the rich. china is the 2nd biggest economy. yeah, i believe 600000000 people. half the population lives on about $150.00 a month. so do you think these efforts to tackle that will have the sort of impact that's needed? it depends on how the government do it. so there are many reports that the government will do it through poverty tax. i don't fully agree. property taxes, just one chill to do this. i, as i said, i expect a more progressive tax system on call protect as well as individual t

yeah, i mean, the key role of china, this aligns between russia and china as unprecedented before the had the final soviet split. so you'd have to look before that. and then i think also with the war and ukraine, i mean, and the navy, you know, the threat of nato expansion in eastern europe has given as urgency and as attention in the region that makes these game very dangerous. and each country is building up its military arsenal at this time. so if a hot war broke out, it would be horrible. well, and i want to bring in a shame because jerry, you look at things going on in various countries here in the united states, the past 4 years, 5 years, even 10 years, there's been a lot of anti russian rhetoric and so i'd say it's deserve so i might say it's not, doesn't matter, it's there and it's actually can be very dangerous. or do you actually see that same type of rhetoric happening on china towards the russians rushes towards china rushing towards the american? is it really just one sided that america is trying to continuously demonize and make russia out to be a villain? i think so, i

the reason for the alliance is china. >> we spoke in detail about china's de-stabling -- destabilizing activities. we will remain clear i'd in our view of beijing's efforts to undermine the established international order. >> we have discussed china at a number of levels that requires us to respond and recruit -- increase resilience. that does not mean there is not constructive areas of engagement with china. >> not surprisingly, beijing condemned both the alliance and the summary deal. >> the exports of highly sensitive nuclear powered submarine technology from the united states into australia once again proves that they're are using nuclear exports as a means for geopolitical gains. it is double standard. >> in washington they were pummeled with questions about the scaredy package. >> this is about enhancing our cooperation, our work together, ultimately about enhancing security and stability in the indo pacific and it is not aimed any country. it is certainly not aimed at holding them back. >> the announcement of this new alliance could signal that the u.s. president joe biden is ac

they were based in sort of, out of the way areas in china, china then band mining earlier on this year. and even though it was always in a bit of a shadow industry in china anyway, then they made it out right back and started actually kind of radiating premises and that kind of thing. so now the mining industry is just run away from china. so that's the background really? china used to be central and now it's really, really not why hasn't been cracking down so hard and recent time is cracking down for a number of reasons. number one, china likes to control as much of what citizens do as possible, particularly when it comes to financial things. and the fact is that cryptic currencies allow chinese people to salt away their money to some degree because of course, the currencies can be transferred across borders. very easily and simply and sometimes even anonymously. and that's the last thing that china once, if they've got face of rich citizens. and it would like to know where that money is . if they fit it in the right, but hide that money or, or experience it out of the country that he

shaking off china headlines. the nasdaq, up 99, advancing .6%, up 97 the russell doing edits, up .2%. are you surprised by how well the market is taking it? tom: no. jon: how well the federal reserve guided us to this moment? tom: they do not believe the hawkish story. i think that is what it comes down to, the fed is a hawkish tone and the regional presidents and the markets are saying no. jon: in the bond market, twos, tens, and 30's look like this. yields higher by three basis points. yesterday, yields lower at the long and. tom: look at the 30 year bond. jon: down by three basis points. still sub 100. that spread is coming in over the last one he for hours. we can build on this to the next now. setting us up for the discussion through to down bloomberg tv and radio. i won a finish and china. here is the story for evergrande. two bonds in two interest payments due. it looks like we might have dealt with that. that is the indication yesterday. the dollar bond, $.29 on the dollar, deeply distressed. deeply distr

well, if you look at the defense system in china and the us china defense system is, is very passive in a sense, in terms of, for example, nuclear heads, most of the defensive purpose not for attacks. so, you know, if you look at what did us has died in the past 100 years, the launch war every 2 to 3 years. but china has rights to is current that is largely through peaceful means. professor benjamin charles from the shanghai international banking and finance institute. joining us live here on this thursday morning on are you into national a very good morning to you. thank you for your time. while europe is currently reeling from a price shock on its energy market, the natural gas price in all time record on wednesday of almost a $1000.00 per 1000 cubic meters of this comes ahead of the winter demand surge and it's being driven by a gas storage shortfall and a shop drop in wind power. the crisis is likely to meet higher builds for households or across the continent. and off the skyrocketing on wednesday, the price has now stabilized with analysts warning of the swings. well, the curre