secondly, as the president alluded to china and we will talk about china later as we go on but china is very active on the economic front. they are forging economic linkages benefiting china and the world but economic linkages throughout asia and those economic linkages to trade and investment they believe it helps their economic and national security influence. and then i take it a step further and the reason this is important to our national security as i think national security starts with economic security. i don't think china as we will talk about later is a formidable come patter and we want the competition to be healthy. we shouldn't shrink from that competition. something we should welcome. wesley.trade deals, people debate trade. their negative some positive to trade but that positives far outweigh the negatives. we have been a huge beneficiary. we continue to be successful with 4% of the worlds population we don't go out and attempt to do as much business as possible but the other 96. the camp put a wall around it and be successful but what i argue which is to me a no-brain

inside china. and a lot of people, they can't get the cutting-edge technology, which we don't teach in college at all. so the human resource problem and the manpower problem is more and more -- getting more and more serious here in china. >> because everyone's going to the silicon valley? >> they offer better. obviously. oh, here are the -- >> these are the famous ribs? >> yes. >> maybe the number one thing that the seriously food-crazed traveler coming back from shanghai will tell you to eat other than the soup dumplings, of course? zeran paigu. or simply, cumin ribs. ♪ it takes two cooks working at once to make this dish. one deep fries the ribs in hot oil until just right. another toasts the ginger, cumin and other spices in a wok. and then in go the ribs. and if you are a devotee of what's called wok-hei, you sit as close to the kitchen as possible to capture that elusive fast-dissipating breath flavor of the wok itself. toss them around, coating those bones with all that good stuff, then ser

secondly, as the president alluded, china, and, china, and we will talk about that later, but china is very active, forging economic linkages, benefiting china and the world and the economic linkages, trade and investment they believe helps the economic and national security influence. and then i'd taken a step further. the reason this is important is the national security starts with economic security. i don't think china, as we will talk about later, is a formidable competitor. they should not shrink from the competition. it is something we should welcome. trade people, the positives far outweigh the negatives. we have been a huge beneficiary. we continue successful, 4 percent of the worlds population, does not go out an attempt to do as much business as possible, you can put them all around. but what i argue which is to me a no-brainer, even those that disagree with me on trade generally should want a deal like this. is focused on asia. it's important that we continue to be strong economically, diplomatically and militarily in asia. >> how would you grade this administration in term

he wants to restore china to greatness. not only making china the biggest economy in the world and having a robust military , but asserting chinese claim in maritime capabilities. it means dividing the u.s. and its allies. reducing american influence inch asia and around ina's periphery is a critically important part of that strategy. vago: that is part of the hundred year marathon that he wrote about. >> if you look at china's own words and their own writings like the papers that cannot this year in may, their goal seems to have changed if you look 10 years ago or even 20 years ago. it was much more modest. but this year the really talked about protecting china's around the world. they havtalked abo the need for a global presence. 35re is a far outlook by chinese generals that came out chinese having a glob network of military bases. some of this is new. some of this is very lg-term, 20 y years or 30 years to go. >> watch of the things i want to ask you is do you think that beijing cares at all about what the international

they are outperforming in china. and when the shanghai composite went up 70%, the s&p 500 went up 5% -- >> what was the question. >> we're talking about the economy but let's talk about the wealth affect that people suggested could be -- >> what was the question she asked. >> are you asking the questions or is mel asking the questions. >> will it impact the u.s. stock market. >> let me finish. if you look at s&p 500 profits or revenues, it is about 2% to 3% coming from china. so ultimately we have a question that we're talking about the u.s. stock market. are we going to be taken down. we started saying china is about to blow up and i don't think that is a reasonable conversation. >> you didn't think so in the spring either. >> and was i wrong? >> look at the u.s. stock market. it is flat. >> but the volatility we're seeing in the commodities and credit markets all over the world have to do with what is going on in china. for you to say it is so powerful. >> the question was forward-looking. let's not look backward a

the west of china, much less so. to say that china is a developing or developed country it's a misnomer. that's equivalent to trying to equate the very eastern part of europe to the western part. >> when it comes to co2 emissions, where do they stand and how quickly is that escala escalating. >> china is the single largest emitting country on the planet. they have cumulative numbers, and that's what really matters. they've cumulatively emitted as much as the u.s. and e.u. >> you can understand why the u.s. is making a big deal with that. it's shall and should, do you think that's just what the u.s. would say, or do you think there is justification. >> i think it's very important. so i think it's very important that china is a core part of this deal, and that they do evidence and ambition. it is important to recognize that china has a track record of under promises and over delivering in these areas. they don't like to be told what to do by other countries. this was picked up earlier, the point of national sovereignty

china shipping is down by 27%. cosco pacific is down by 15%. china cosco is up -- all by 23%. an exit is when it comes to emerging markets. indonesia is heading for a two-month low. one of the two worst performers in asia. down by half a percent. on -- also keeping and i chinese currency. most offshore rmb. after china introduced a new currency basket. details are scarce, but at this stage, it could mean further weakness when it comes to the chinese currency against the greenback because there is a sense that they are trying to recast expectations away from just instability but toward a trade basis on where the chinese currency should set against the 13 currencies. a bit of a downside for cnh. trading at >> .5469. we are talking about the selloff in asia extending the global selloff that we saw last week. no good news am afraid. yvonne: not a great way to start the week. let's talk about oil. seven-year low. levels not seen since december of 2008. west texas deputy i heading toward $35 a barrel. let's go to singapore. great to see you. what's behind the latest drop? the focus

both overseas and in china. thatis why we are seeing playing out. >> executives have gone missing and helping in aiding investigations. but always the markets are left with no idea. are they nervous? >> someone set on 20 -- seven someone set on twitter -- someone set on twitter china needs to come out with a new ceo. this is becoming a regular occurrence. a number of brokerages. a problem with china's regulatory overhaul and the corruption crackdown, the lack of transparency. that is what they are freaking out about. the rest of the market is related entities, businesses acted very badly. it will be interesting to see what happens when they come back online. angie: we are going to keep a close eye on oil after it else to a seven-year low on continuing speculation that opec will keep the market oversupply. -- thetels decision financial crisis was having its biggest weekly drop in more than a year. at least until productions hit a three-year high last month. china's economy is showing new signs of stabilizing shou

the story of whether it is china or not a part of china we go to the library and there are bookshelves full of books or giving both sides but i'm not going to go into that today from the standpoint it was pretty clear cut their country was invaded by the chinese and their way of life is attacked by china in many ways and the spiritual leader of the dalai lama was forced into exile. few people know when the dalai lama went into exile it was the cia team of trained tibetans have helped him get out of debt and -- tibet and crossover where he remains to this day. they were also providing military support to the rebels fighting against the communist army the people's liberation army. and that support was provided from an air base in pakistan of what is today bangladesh at the time was east pakistan. if you think about the geography, where can you get that easily from where they are placed very close by. they trained some of the operatives in the united states. some of them were trained at the cia training facility in virginia but most of them were trained in colorado. and the logic of that

the underlying consumer demand is very strong in china. the internet companies there, their business is very good. it is strong. it is healthy. it is vibrant. and we have built our own business there over the course of the last 13, 14 years -- emily: quite a robust business. sir michael: a very robust business, run by some wonderful people. and it's no accident that seven of the most valuable internet companies today are chinese. over the next 20 years, there is going to be far more business done between the technology companies that get started in china and the u.s. than there has been in the last 20 years. emily: what does silicon valley have to learn from china? sir michael: i'm always struck by how eager people running chinese companies are to learn about their american counterparts. how frequently they come to the united states, how jammed their schedules are when they come here. i wish that the ceo's and founders of silicon valley companies did the same thing in china. i think we could learn a lot from them. in mobile in particular,

yvonne: let's head back to china now. the elite decision-makers are wrapping up their annual planning session in beijing. they are trying to encourage investors at home and abroad. zeb: this central economic work conference is wrapping up. giving us some clues about the headline agenda items going into 2016 for the chinese communist party and its management of the economy. willeople's bank of china show that monetary policy is flexible and fiscal policy is forceful. interesting to see them use that kind of language. basic monetary conditions will allow for structural reforms they say. they are trying to support rural homebuyers. many people who live in inner china who need help. also seeking to promote entrepreneurship. a major headline initiative of the president. see a more innovative, technology driven country. one that harnesses the creativity of young people. has technology firms that rival silicon valley. time in a lot of seattle and in silicon valley during his recent trip to the united states. many getting risks i

from china? jean-pascal: china is the biggest population on earth. second largest economy in dollar terms. on the development has been so fast, that china had a wall in terms of emissions and pollutions. china is very serious about resolving. china is our second largest country in our portfolio. we are working very closely with the government, with cities, wi th companies to reduce the impact of emissions on the impact of energy consumption. caroline: well your business grow their rather than shrink, given that we have china's economy in question? jean-pascal: you have to take a bit of perspective we know that china is going through what is called the new normal. an adjustment time after decades of very fast growth. so it is an adjustment that we of theing with the rest economy, with our china operation. i'm confident we are going to be back to a more -- as we go forward. caroline: thank you very much. jean-pascal tricoire here for a couple of days. a french company basin within hong kong. asia p

china has the most inflexible exchange rate. without china importing u.s. whytary policy, this is interest rates in china were much too low. this is why the council has amassed leverage. killhis leverage will just their profitability. they need lower interest rates. this is where it is interesting. there were four countries in there before they try to join. what do these countries have in common? they all did qe. i'm not saying it means china is going to do qe tomorrow but someone is going to make it a lot easier for china to ease monetary. guest: what would it look like? guest: china has been converting their government vehicle debt into media. sayomorrow they wake up and we are going to buy $1 trillion of this that will free up a trillion dollars on the bank balance sheet. there is no question they have a lot of ammunition. the important thing is to understand the cover here. if they are you doing qe. they say are currency fell by it was not our objective. it is a byproduct of our monetary easing. why can't they tell the same story? now they say we are go

but today china town is fast disappearing. the famous chinese gate over the main avenue only remains as a tourist attraction surrounded by western food and clothing franchises. it is about the people. at one time, 3,000 chinese lived in washington's china town. today only about 300 remain. hassle of those might soon be gone, their building being replaced, jenny tang to be evicted so a luxury condo can be built >> translation: most of the people who live here, we all have jobs. even though we have jobs, we don't have as much money as them. every day, every month, we pay our rent on time. >> reporter: they're victims of what is a process through which poor minorities are pushed out as the city develops and the wealthy move in. according to one study, non-chinese populations in these areas have doubled in a decade. some researchers estimate that of the 15 large china towns in america, only three still remain authentic to their chinese cultural past. >> the china town is not just with the people. china town is a place where social

but i think the story is avoiding a hard landing should draw money back to china. -- give does china fit me the peripheral story around china and whether the investment case stacks up. when i look at korea, taiwan, how do i invest there? bill: the story in china is still one about the opportunities coming from liberalization, the orientation towards the services sector, towards the consumer, the brokerage side, the large companies in china phasing out developing. it's the strength of the domestic theme to get retail sales spending at the next regnery case. other economies are seeing some improvement, but that is linked towards currency depreciation and a low-inflation environment providing some support for domestic demand. there, it is more about rebuilding competitiveness. china is more a domestic story around liberalization. guy: bill, stay with us. plenty more still to come. china is doubling the hours of onshore yuan trading. we are going to 11:30 p.m. beijing time from 4:30 currently. how low can oil go? opec'soing to look to global outlook, published in 40 minutes time. ♪ the

remember we did get some relatively encouraging housing out of china -- housing data out of china. once we get through this year it should be quite positive. >> thank you for that out of sydney. we do have confirmation that willba's board meeting take place to discuss restructuring measures. that is expected to take place today. expect a large loss when it keeps you apprised of all of that. we will bring you more as we get it. back in two. >> let's get to it. >> a japanese travel agency, it says it will oversee packaging tours. it will buy back 3.1% of shares expectingillion, popular stock today. suzuki has given its shareholders its first wholly-owned mine in india. this time around it will be able to invest directly. this is quite a big market. >> we are talking radio, radio equipment. it makes radio gear. we are not talking about radio broadcasting or communications equipment. this stock is up 12% so far. it is going to be fun to watch. >> our reporters highlight news events. back to see how the stocks are done. we have china's largest homebuilder heading for a showdown with its

one of china's special administrative regions. hong kong is set to be the world's busiest trading center for the chinese yuan. many of the exchange stores here are eager to accept the currency. and another policy of one country, two systems, its official currency remains the hong kong dollar but as tourism and business ties between the two sides grow, it's more common to see people exchanging dollars and yuan. as residents in hong kong grow more familiar with the yuan, they are looking for people to manage the assets and the currency. >> come in. >> thank you. >> reporter: this woman works at this agency. five years ago, she opened the short-term deposit account in yuan at the hong kong-based bank. the deposit was worth about 113,000 u.s. dollars. she was affected by the high interest rate of more than 5%. >> in my opinion i'm very confident in the next 10, 20 years that that will be the currency of the world. >> reporter: people in hong kong have flocked to yuan-based banking since authorities first allotted 11 years ago. the nat

the west of china, much less so. to say that china is a developing or developed country it's a misnomer. that's equivalent to trying to equate the very eastern part of europe to the western part. >> when it comes to co2 emissions, where do they stand

exports now 6.8% down from china. that is a deeper decline we were expecting from economists. 5% decline was anticipated. we see a slight pickup from what we saw in october with a 6.9% drop in exports. the imports we see a slightly higher than what wasn't dissipated. 8.7% drop in imports. nos brings the trade balance -- more new row than expected -- narrow than expected. rishaad: stay tuned for ages asia's edge. ♪ >> from our studios in new york city, this is charlie rose. charlie: growing links to international terrorism in this weeks shooting in san bernardino. one of the suspect was in communication with folks in the united states and abroad who have links to terrorism. his wife pledged allegiance on facebook prior to the attack. searches of the suspects home uncovered all making equipment, dozens of pipe bombs and thousands of rounds of ammunition. let me begin with what we know that is new.

nuclear controls in china. also the growth of laces like london and frank were will threaten hong kong's that is. the company is by far the city with the largest offshore and then rule of law etc.. people get set to do business in hong kong rather than china. yvonne: we're maintaining that. bad but it is not that situation skits worse before it better? >> i think it will. as you've been saying for quite a while now they have to allow the yuan to devalue. we have students saying the economy must go to explain 5%. we have to allow the you want to depreciate. then it's trying at times to strengthen . so yes the situation will get worse and it keeps you guessing. we have to see what happens in the state months. >> 2015 has been the year of this lowdown. china the question were going to be asking ♪ yvonne: voters in spain have deserted the two main parties. the people's party was allow more than a third of the report. it came in very strong. whoever takes over will be taking on an economy that is very high on debt

led by china's top legislator. have defined what anti-terrorism means in china. these tech companies had better listen. cory: does this mean that these chinese government officials, any e-mails that they send, they will be able to see new my personal e-mail? angie: that is certainly a concern. president obama has expressed that concern to the chinese leadership. this type of legislation means that this would allow the chinese government to have backdoors into tech companies. whether or not that is the case is obviously for the state to parse over. if tech companies hand over their encryption keys they can read your e-mails like a novel. cory: i'm not sure i want them reading my e-mails. angie: they are having increasing issues with terrorism within china. cory: thank you angie. ♪ cory: despite the slowdown in china's economy companies is have plenty of room to grow. i spoke with michael moore it's about the future of china's tech scene. moritz: i don't think anything has changed in china. the underlying consumer demand remains very strong. we have built our own

manus: a tale of two chinas. the morning of the disturbing deterioration in the world's second-largest economy. welcome, it's friday. i'm manus cranny. edwards.e annm anna it looks like a different day, positive momentum in sentiment, the confidence transmitting to the global market. talkingverybody was about what an amazing job janet yellen had done, raising rates, projecting confidence. the reality is that the dollar is storming. commodities are coming down. oil is $35. nolan is convinced that the world is -- and no one is convinced that the world is a robust place. rest of europe is down by three quarters of 1%. the asset class is down, the dollar is up, global equities have rallied by 1.27%. anna: as long as commodity rout continues it can make challenges harder. let's get the bloomberg first word with nejra cehic. nejra: the bank of japan has outlined operational changes for government bonds and real estate investment. as part of the planet will establish a new, $2.5 billion program. kept his main monetary s

china spent $631 billion on overseas deals. he does mention that record last year, one hundred $23 billion in deals. that was the first time there was more odi than foreign direct investment into china. sayingmier out last week that a globally-focused china will spend $1 trillion in overseas investment over the next five years. new studies are showing that about a quarter of that amount that trillion dollars in overseas investment between 2005-2014 run into trouble. -- has run into trouble. dollar outthat, one of every three dollar pledged or, has gone sour. that includes government officials who wish not to be identified, telling bloomberg mostly in energy and mining have trouble. natural disasters, other issues as well, integration of foreign operations into a chinese company. a separate private tally of 161 projects, soubled it looks like it has not done well for the chinese. rishaad: some of this is feeding on itself. you have a slowdown in china, then in africa -- this $631 billion in odi investment happened in the last 3-

what's china's position there? >> the chinese government maintains that it will fulfill what it calls its responsibility as a major country. it has set its own target of reducing co2 emissions by around 2030. on the other hand, it has said only industrialized countries should be obliged to meet their reduction targets. there are also different opinions on who should be helping developing nations. some advanced nations say emerging economies like china should be chipping in. the country's climate change representative says china is open to helping them, but it doesn't want to be forced to do so. >> translator: developing countries can, on a voluntary basis, contribute to other developing countries in order to enhance their efforts against climate change. >> china's government describes air pollution and global warming as pressing issues and has threatened swift action to combat them, but countries around the world are watching to see whether that will happen. >>> french foreign minister laurent fabius exclusively to

it's very, very good and a perfect thing for business people in china moving forward. >> reporter: china's growing bond with africa comes as it faces diplomatic conflict in the asia-pacific region. xi's message for cooperation and the win-win relationship with africa is resonating well and elevating china's status as a global power. tomoki matsuda, nhk world, gone joe. >>> we'd like to take you to iceland where people there are dealing with major windstorm. authorities are advising residents to stay indoors as hurricane-force winds stay in the country. the government has been telling people to stay inside. particularly this one wind report, 216 kilometer per hour gusts. typhoon-strength winds is 130 kilometers per hour. you are looking at an intense storm system here. pressure now down to 947 hpa. we talk about these gradient lines when they're close to each other you have the higher winds. across this area, this is about as tight as you are going to be getting it outside of being in the middle of a typhoon. you are seeing those winds out there right now. definitely very intense. does look

china shipping and china cosco plunging by the most since 2005 and 2004. each down by over 20%. china shipping down by almost 30% in hong kong. shanghai listings are actually suspended. stocks are back online after a four-month trading halt. we had news late on friday that chinese government plans to consolidate these shipping companies to create what would become the world's fourth-largest container shipping. each focus on a different aspect of the business. that is really driving quite a bit of downside that we are seeing across these stocks. this comes as part of the broader consolidation of chinese as the lease. reformve protracted efforts to get them up to speed and streamlined. it comes at a terrible time for the shipping container names amid the swelling global demand and overcapacity. a purchase of neptune announced last week. i want to show you one of the few greens that we are seeing. oxin auto is back from a trading halt. it comes on the back of a $1.1 billion stake in the purchase by china granddaughter. -- china grand auto. one of the biggest car dealerships in chin

dongfeng is one of china's top e-shopping villages. and this town's rebirth is primarily down to the work of one man. 33-year-old sun han. sun runs a company that designs and makes home furniture which is sold exclusively through the firm's own online shop. each morning when he arrivals at the office, he checks the previous day's sales. >> around 80,000 yuan yesterday. that's down 10,000. but we do have 800 orders. >> sun's company has an annual turnover of 40 million yuan, over $6 million. most items on offer are made in the factory next to his office. this 3,000 square meter space contains the latest woodworking machinery. most of sun's 32 staff, including a number of relatives, are residents of dongfeng's. >> translator: now we're making shelves, desks and coffee tables. >> the furniture is made by red pine, imported from russia. although the goods are designed for home assembly, a screwdriver and the manual are all that the buyers require. >> translator: here we go. that's our brand name. it means elegant, beautiful, and comfortabl

currently, china is the biggest consumer and producer of the fossil fuel. it's also the biggest emitter of greenhouse gases. china still relies very heavily on coal to power its economy, so the government here has pledged to upgrade its coal-fired plants nationwide to reduce pollution by 60% by 2020. it also is embracing clean energy. it's investing big in wind, solar and nuclear technologies. still, critics point to beijing's days of hazardous smog this week as evidence that china's addiction to coal will be hard to quit. it's a cheap and plentiful source of energy difficult to resist, they say, for a government attempting to keep the economy from falling further. even so, trucker li is concerned about his own prospects in the industry. "living expenses are rising and i have a whole family to take care of," he says. "i'm thinking of going abroad to find a job as a day laborer," away from china's coal country and its clouded future. for "nightly business report," i'm eunice yoon. >>> to the u.s. economy and the housing market. sales of newly built homes ros

china doesn't want to considered the bad boy in the environmental debate. china is unique. it is the world's largest emitter of greenhouse gasses, but it is also spending possibly more money than any other country that tackling pollution. when china went to paris, it said it wanted to be involved in decisions that were pragmatic and balanced. it wants to remind the world that even though it's the world's second largest economy, it is also a developing country. the reason for that ask this: if china were to be classified as an industrialed nation-- industrialed nation like the unites stated it would have to contribute to the fund to help nations that are suffering the worst from climate change. that's why it has been clinging to the status of a developing nation and that's one of the reasons of friction in paris. this summit was opened at an embarrassing moment for china pause for the past few weeks we have suffered some of the worst mrulgs the capital city has seen in many years and in a sense that has giving-- pollution-- the government a wake-up call because there is grow

interest rate cut could mean for china. >> reporter: i'm in the city in north-east china, a committee economic center where business leaders like business leaders elsewhere in the country are now trying to assess the likely impact of this rise in u.s. interest rates. the last time it happened obama and president xi jinping had yet to become presidents of their countries, china had to yet host olympic games and china was not the second largest economy. the good news for china in this rise in rates will help with exports, because the their dollar will fawn against the dollar. the chinese government owns a sizeable chunk of the u.s. economy in the form of debt, some 1.2 trillion dollars of treasury bills sitting in a fund and that will go up. the bad news, a lot of big chinese conglomerates have borrowed in chinese dollars. there are also other items exposed. china economy has been continuing to slow. the government has been cutting interest rates, not raises them and that has called the yuan to fall in value. this is not the rise but the timing and size of future rises in u.s. interest

transpacifice partnership agreement that china is not a part of and this is a 18 for china to international legitimacy. is truly usable pretend.annot >> it is a little looser and you cannot say the renminbi is not convertible. it is not a requirement. >> it will become more freely and,e in an economic sense as that happens, you have a have thetatus and we trade side of things and the finance side of things. it gets on china and rid of a misalignment. it is where the use of the financial system is falling short and we see this lower than expectingonsensus was and i think that we could see a virtuous cycle where they can renminbimand for the as a reserve asset, if it is combined with internet/-- internationalization. host: we have seen the dollar strength. are we done with this? 74% discounted by a few hike and we are on of a liftoff on the table was janet yellen speaking about a risk events and we have the payroll with north of 200,000. we are looking for unemployment ofhit the explicit view employment. >> we have morgan stanley saying that this was a year of the yen. how is the inferential

china's loans are often linked to commodity arrangements and zimbabwe has plenty of raw materials but now the commodity prices have fallen new terms have to be agreed on how to pay back those loans and some fear it could lead to zimbabwe going deeper in debt and harry with al jazeera. >>> international monetary fund says the chinese known as the ramindi as a reserve currency and a victory for beijing recognition as a global economic power and joins the u.s. dollar, the euro and the japanese yen in the select group and head of imf says the decision reflects changes in china's economy. >> the addition and inclusion of this in the sdr basket of currencies is a recognition of the significant reforms which have been conducted of the significant opening up of the chinese economy. >>> just ahead here on al jazeera sailing into egypt japanese ships leave port to resume whaling in the antarctica ocean and plus we have the story of a malaysia mom offering a secure and loving home to children with hiv. ♪ sure, tv has evolved over the years. it's gotten squarer. brighter. bigger. it's gotten th

why is china different? marios: china is slowing down on the backside of the credit room. ratios to keepg growth close to 7% and they cannot cut to aggressively because they don't need another credit boom. ,ut china absolutely has debt it is high, but not much higher than other economies in other major countries. distinction is, in a domestic chinese economy, even they arere challenged still going to put money into the middle east. marios: china is a net capital exporter. they have to. a massivetill running -- on that basis, they will be exporting more capital the empty capital that comes in. that has been the case and it will continue to be the case. jonathan: the whole point about the middle east, fine, that is critical. but where does it go? does it go to the u.s.? marios: what you are seeing with the decline of foreign reserves is that less goes to the u.s. and more is exported elsewhere. the one roadget initiative. china will be funding x matisse to the rest of asia over the next few years. it will be the biggest capital exporter in the world. ore when we say oh, iron

china backed the united states for the last couple of years but keeping a big focus on china, there's so much going on. along but let's talk about this new counterterrorism law. guest: the chinese had just passed a new counterterrorism law which someone it was of his early stages got a lot of criticism from foreign countries and the u.s. government. foreign technology companies operating in china, a lot of people are concerned it would force them to hand over proprietary information, including their codes to the chinese government. that might be handed over to chinese competitors. there is a tension on the one hand that the chinese state's role as regulator and the role of competitor may force a lot of technology companies he see china as a huge opportunity into some difficult choices. kathleen: act in march, president obama said china will install backdoors in u.s. company systems and that asian nation would have to change provisions like you have to do business with the u.s. put the same kinds of bars on us? do they already exist? guest: i'm not the kind of technical expert to know

only in china. so therefore, in the power system, we see a major change and following what i've told you before, the renewable is the is the fuel of choice and the next 20 years, out of every $10, invest in pow erica pasty, $6 go to renew investments highlighting the importance of renewables. energy efficiency. this is an issue as our colleagues know very well that we highlight all the time because it is changing the picture. everybody has to understand, to understand demand growth, what is happening in energy efficiency? and i can tell that you in the year 2005, ten years ago, only about 15% of the global energy consumption was covered by the energy efficiency mandatory energy efficiency measures. only 15%. today, it is almost doubled, it is out of two major factors. many factors but two very important. one, chinese government takes this very, very seriously for many reasons. from cost saving to environment implications. two, energy security. if you use energy less, your import dependency will be l

china's loess plateau is a region that stretches for 640,000 square kilometers across north central china. unspoiled valleys in neighboring sichuan show us how it might once have looked. it's the sort of natural abundance that is necessary to support an emerging civilization. how could a landscape with such potential have been reduced to this? when chinese scientists and civil engineers began to survey the area, they realized that several thousand years of agricultural exploitation had denuded the hills and valleys of vegetation. the relentless grazing of domestic animals on the slopes meant that there was no chance for young trees and shrubs to grow. the rainfall no longer seeped into the earth, but simply washed down the hillsides, taking the soil with it. over millennia, this progressively destroyed the region's fertility. when this happens over an area as extensive as the plateau, millions of tons of silt are swept down into the yellow river, which gets its name from the color of the fine loess soil. the mounting quantities of silt clog up the river, impeding its flow, contributing to

talk up next, we will china stabilization. indicators out of the people's republic show signs that a slowdown in the world's second-biggest economy could be easing. ♪ anna: welcome back, this is "countdown." royal dutch shell, europe's biggest oil company, has further reduce spending plans after a prepared to take over bg group. we get opec's world oil outlook at 10 a.m. u.k. time. road, the hedge fund manager owned by the carlyle almost $1 suffered billion in withdrawal requests in the third quarter. nike shares are rising after hours. second-quarter profit beat analyst estimates while revenue in china was out 24% -- was up 24% to a. purchases climbed 3/10 of 1% in november, in line with economists estimates. the two biggest risks facing the u.k. economy next year are brexit and brexit. 13% chose the buildup to the referendum. u.s. rate hikes in the presidential election couldn't even figure in the top concerns. the debut of star wars along with blockbusters like jurassic world early in the year has put the u.s. movie indus

many are sold in china. sanctions were imposed. china has been criticized for not speaking out. china wants to borrow money for hospitals, roads and schools. the economy is struggling. some are behind government plans to pay. some say they have to pay back from stability to reduce, and measuring prices on the world markets. all of those are difficult to imagine happening. >> it has been accused of the not paying back loans. china is investing in projects and construction. it's building and donating medical equipment for poorly resourced public hospitals. china's loans are linked to commodity arrangements. now prices have fallen, new terms have to be agreed. some say it could lead to going deeper in debt >>> japanese ships are leaving a port in tokyo to resume whaling in the antarctic ocean. japan stopped killing whales for a year under international pressure. tokyo insists the probing is for research purposes, but in 2014. the international court of justice rejected the claim and said the expeditions are commercial hubs. >> we can get the latest news on the website. that's our a

all eyes on china. china knows that it has to act. its people are very, very anxious for something to happen for the past few days. beijing, although it is clear today, has been experiencing some of the worst air pollution in the last three years. the air quality index yesterday, for instance, was 2356, which is-- 356 which is hazardous. days like that have become the norm rather than the exception. if i was to drive outside of beijing now and talk to people about what was happening in paris, they wouldn't know what i was talking about. sadly, there's almost a fatal ice stic acceptance here about the environment. they know the country is polluted and they know nothing is going to change for many years >>> a professor of environmental studies and my other guest. david, i will start with you. now that a deal has been reached, the future of this agreement now will be eventually decided by different countries. do you think that there will be any push back? >> so maybe, but the important thing to see from today is that there really was a p

china is warning of the china cost it has to pay. what they don't need now is another excuse or reason for its economy to slow even fourth. for chine-- further. for china there is a lot at stake >>> the visuals of china have been terrible, the smog, the red alert. are they feeling international pressure? >> reporter: tell me about the pollution. right now the air quality index is 356 where i'm standing at the moment. anything over 100 is considered to be dangerous. so people here understand that something has to be done, but there is mounting frustration particularly on line about whether the government does really have a long-term strategy for dealing with this country's pollution problems. as you say, a few days ago they brought into force a red pollution alert. that led to the number of cars on the roads being halfd, schools being closed down and factories being told to slow down or reduce output, but what cleared the pollution away a few days ago was strong northerly wind. it wasn't anything about what the government had done. th

they do export to china. china and commodity prices are more important than what the fed does. happenhat is going to next her? what is your call? guest: china is moving towards this concert they talked about. they are having difficulty sticking with the dollar. if you look at the china currency on a trade weighted basis, it is right at the top. part of that is the currency being linked to the stronger dollar, as the dollar goes up china may have been stable versus the u.s. dollar. on a trade weighted basis the currency right up into its record high, they can't afford that. they haven't gotten any relief from the current c. on a broad basis it has. upthe dollar continues to go , we will see the chinese currency not go with it. joe: another phenomenon we have seen has been the mini blowup at these small oil exporters. they plunged 30% one day. cap of months ago it was kazakhstan. the question is what happens in saudi arabia. will they keep spending? will at some point they be devaluing? andalking to some folks, the people they have spoken with, this is a bigger political issue. t

china could surprise in the upside next year. recovery,be a housing and that would put a base on the commodities and get people a lot more positive about what is happening in the rest of the world. yvonne: i hope you're right. thank you so much. coming up next, the booming why gettingdeath, one's affairs in order has become a soaring trade in japan here it -- japan. ♪ yvonne: checking headlines around the world. united nations monitors ended their 12 year investigation into iran's nuclear program. that iran hadted experimented with a nuclear bomb technologies prior to 2009, but never to the final steps needed to produce a weapon. step closerto ron a to relief from western sanctions under its deal with six world powers. from washington say the u.s. is going ahead with arms sales to taiwan, something denounced by china. the near $2 billion package includes warships, amphibious craft, and anti-take -- antitank and antiaircraft missiles. the report comes with tensions rising over the south china sea. a rocket carrying astronauts fr

describe how much power the airbnb of china has compared to airbnb itself in china right now. lulu: there is definitely a lot of opportunity in this market. they've all said that china is one of the most important markets for them outside of the u.s., but they're running into some steep competition in china. these companies are growing at a very fast pace. it's not an easy market to take over and they will be facing an uphill battle. surprised at how deeply penetrated uber already is in beijing. ,t seems that chinese consumers if it's cheaper, they will go for it. lulu: absolutely. there is an understanding towards wealth, social status in the country right now. they don't see having a car as a symbol of status anymore. the fundamental philosophy is that if you can rent it, why own it. that's why more people are embracing the services in china. emily: plus anything to cut down on traffic in beijing. .hanks for joining us today coming up, silicon valley has stepped into the highly controversial arena of gun control. the future of firearm safety, next. if you like bloomberg, che

should china contribute? we understand that xi jinping and obama have been on the phone, trying to iron out these concerns. over all, that deadline has been pushed back. we need to see some sort of compromise. mood is: caroline, the that we will get something saturday morning? is there optimism in the room? caroline: there does seem to the. the foreign minister has been trying to show that he believes a deal will be done. i think the fact that we are seeing global leaders picking up the phone, talking to each other, showing some sort of compromise -- they really want to get this over the line. the optimism is draining out. when i was here on monday, i was speaking to the environmental protection agency had of the united states. she thought friday would be the day we saw a deal done. people have been here until 6:00 this morning, trying to get their views across. people are sleeping above me. they come back at lunchtime to once again pull and a lighter. john kerry is here trying to ensure that we get an agreem

he goes back to the china story. china slows down. many emerging markets and up in trouble because they little the export to china. if you look at the risks of global growth and recent years, it is been skewed toward the emerging markets. proportionally, emerging markets consumer more oil for any incremental growth than the developed markets do. regardless of what opec does. is wect of the matter have seen tremendous weakness in global demand, skewed toward emerging markets. manus: part of what we need to do is narrow our focus in terms of emerging markets. stephen king from hsbc. up next, more of my interview with ross mcewan. ♪ london.:18 in 8:18 in france. let's bring the up-to-date. caroline? caroline: hsbc has had talks with canadian officials about relocating from london to toronto. the discussions were held in october with senior figures. shortly after that, the bank says it would delay its decision until early next year. todaynged in hong kong despite the return of chairman. -- haspany's president been helping with an invest