then if can you fold those agreements into the wto, you could in a significant way improve the wto and do it without having 180-nation trade negotiation. so i still have some hope for that. but we've got to get tpp right and we've got to get tpp approved before we can even think about whether that can be a base for maybe a partial wto negotiation that would move a lot of that outcome into the wto. phil? >> so i agree with all of that. what i would add, i like this image of trying to herd 100 cats. one of the things that was available though in the uruguay round was you at least have one effective thread which was that if a country wanted to be recalcitrant, wanted to hold out, you said well then you won't be a founding member of the wto. but that's a one-time trick. i think this is what we found in the doha talks, was that you do that, now you've got 150-some countries, maybe 160. and now you've got to try to get unanimity. the big split that we saw comes back to this question about the u.s. approach versus the chinese approach. do you try for sort of high standards and ambition or do

would remove a lot of that outcome into the wto. phil: like all of that. one of the things available in the uruguay round is you had one effective threat fit if a country wanted to be recalcitrant, you will not be a founding member of the david seo. you do that -- of the wto. now you got to try to get unanimity. the big split the saw comes back to the question about the u.s. approach for the chinese approach -- do you try for high standards or ambitions or something that is much less ambitious or useful. countries have end up split and upis not clear how to end beyond that impasse. there is a path from the ground and -- from you do the ground up where you do tpp ttip. mr. pearson: i am not going to try to herd cats. will conclude now, and i will provide guidance for people to get lunch. people tend to respond well. lunch is served upstairs one conferencee agri center on the second floor. there are restaurants on the way. all very much for being here, for your versus patient. ofase join me in expression appreciation to the panel. --

and certainly the wto, we are always encouraging them. they played an important role of the vote andt the wto ministry of along with a handful of other countries to help guide the process. that fundamentally rethink the rules-based system has been very good for china. they have benefited enormously from it. we think it's necessary now for china to step up and play a ball with greater responsibility for that system. and commensurate again with the size of its economy and role in local trade. >> one more question. frank vocal, because i promised tto get my cabinet here by 11:1. mic. >> quick question. given the political balance of the election, is the tpp going to all or nothing in the lame-duck session? are you going to wait for them rather than try to get politician to do it themselves before the election? >> we are working day in and day out with the leadership, the committees and individual members to lay the foundation. i think august is a challenging political director trade votes are always hard. they are always close, and this envi

he also said he would take cases to the wto where he believes china has behaved in such a way that it has violated the agreement that it signed to get

the uk is a wto -- remember, it's bound by the rules of the wto. therefore it's bound with whom it can trade. no member, no wto member can decide unilaterally what the commitments are. what are the tariffs that will apply between them and the other members. so there has to be negotiation. there is no way of escaping that, it's as simple as that. >> i look here at the amount of countries that the uk has trade policies with. you've got -- if we were to see a brexit, britain would have to sign a deal with the remaining 27 members of thee eu. you've got 50 countries that have preferential deals. the eu has been negotiating trade matters for the uk for a very long time now. how long would it take to put a trade body in place in the uk that would be able to do the work that the eu has done on behalf of trade? >> it's difficult to tell. but even if you are absolutely committed and decided to putting that -- to put that team ready for negotiations, it is going to take some time. expertise in trade is not something that you acquire overnight. more than that

trade representative to bring china, bothagainst in this country and at the wto. [applause] china's unfair subsidy behavior is prohibited under the terms of its entrance to the wto. i intend to enforce those rules and regulations. i intend to enforce the agreement with all countries -- basically, i intend to enforce the agreement with all countries, not just china. if china does not stop illegal activities, including the theft of american trade secrets, i will use every lawful -- this is so easy, i love saying this -- i would use every lawful presidential power to remedy trade disputes, including the application of tariffs consistent with section 201 and 301 of the trade act of 1974, and section 232 of the trade expansion act of 1962. when they say trade expansion, they are talking about other countries, not us. there is no expansion. they get the expansion, we get the joblessness. it is not going to happen anymore. [applause] president reagan deployed similar trade measures when motorcycle and semi conductor imports threatened u.s. industry. i remember. his tarif

i don't know how fast it will be in tpp, but i hope faster than the wto. countrieskely to see using these provisions in the tpp rather than going to the wto. finally, i wanted to make two other quick points here. advantage of tpp that got no mention at all until the tail end of the last panel discussion is the advantage of being on the inside of a trade agreement rather than on the out side. of preferential treatment. with tpp, the u.s. is going to be on the inside and that's a lot utter them being on the out side looking in. we should not underestimate that. naftat the benefits in which is another agreement people supposedly one tooth throw out now. but what people have done to develop north american is this enterprises. u.s., canada or mexico, but north american enterprises that have a huge advantage in competition in the rest of the world because they are on the inside rather than the outside of nafta. u.s. leadership -- we have not talked about that a lot, but that is important. there's only one country that can lead will we call the western world and

trade representative to bring trade cases against china, both in this country and at the wto. china's unfair subsidy behavior is prohibited by the terms of its entrance to the wto, and i intend to enforce those rules and regulations and basically i intend to enforce the agreements from all countries, including china. seven, if china does not stop its illegal activities, including its theft of american trade secrets, i will use every lawful -- look, in is very easy. this is so easy. i love saying this. i will use every lawful presidential power to remedy trade disputes, including the application of tariffs consistent with section 201 and 301 of the trade act of 1974 and section 232 of the trade expansion act of 1962. and when they say trade expansion, they're talking about other countries. they're not talking about us. because there is no expansion. they get the expansion, we get the joblessness. that's the way it works. no the going to happen anymore. president reagan confronted similar trade measures when semiconductor imports threatened u.s. industry. i remember. his tariff

we shut down the wto. we've been effective. we've been -- we stayed strong. we stayed tight. >> it was protesters, 1, seattle, 0. it clearly was a victory for whatever they were trying to do. they got the attention that they wanted. >> much of the lasting impact comes from the dramatic images captured that week. >> having a camera in a historic event enabled us to share that passion of the protesters who were there, and sharing that with an audience all over the world, actually. >> we need to be able to tell our own stories. we need some control over our own narratives and our own imagery that's getting out there. so ever since then the camera has been a feature of every protest, every major event. >>> coming up -- >> they're coming across the wall right here. >> the story behind one of the 20th century's biggest moments, the fall of the berlin wall, when "caught on camera: revolution" continues. >>> the iron curtain begins to collapse, and nbc news anchor tom brokaw has a front row seat to history. >> you're seeing the destruction of the berlin wall. >> 1989

] china's unfair subsidy behavior is prohibited by the terms of its entrance to the wto and i intend to enforce those rules and regulations and basically i intend to enforce the agreements from all countries, including china. [ applause ] seven, if china does not stop its illegal activity, including its theft of american trade secretsly use every lawful president -- hey, look, this is very easy, this is so easy, i love saying this. [ laughter ] i will use every lawful presidential power to remedy trade dispute, including the application of tariffs consistent with section 201 and 301 of the trade act of 1974 and section 232 of the trade expansion act of 1962. and when they say "trade expansion" they're talking about other countries, they're not talking about us because there is no expansion. they get the expansion, we get the joblessness, that's the way it works. not gonna happen anymore. president reagan deployed similar trade measures when motorcycle and semiconductor imports threatened u.s. industry. i remember. his tariff on japanese motorcycles was 45% and his tariff to shield am

he would make the case to the wto that china is violating its terms of membership in the wto and have the trade department label china a currency manipulator. donald trump jr. talked to us last night. >> you look at the $500 billion trade deficit every year, they ship everything into the united states. if we try and ship one good, one service into china, we can't do it. they take our jobs, they take our manufacturing. >> reporter: now, that designation of china as a global currency manipulator is an important one, heather, because every administration has declined to have the treasury department do that. should trump become president and do that, it would be the first time. >> and he's planning to whack hillary clinton tonight. >> reporter: he will present her as a tool of wall street who pursues economic policies of wall street. he'll hit her hard on her support for trade agreements like nafta, china's entry into the wto and the trans-pacific partnership. hillary clinton now says she's opposed to the ttp but there's a new video circulating where she seems to be of a different state o

but there are wto agreement provisions on both of these issues. technical barriers trade basically says that product regulations can't be discriminatory. sanitary rules say that food safety measures have to be based on science. so, the tpp has rules on these same things. the first point that i want to make is that because we already have riles at the wto that say something very similar, i'm a little skeptical that the tpp will do much more than has already been done. if there are complaints about another country using food safety measures to restrict trade, which there often are, governments have in the past gone to the wto. i'm thinking in the future they will do the same thing so i'm not sure that the tpp adds that much. there are, especially in the issue of technical barriers to trade, there are annexes that cover specific issues in more detail. i will show you one of them. as you can see from the text, it's complicated. there's debate about what this particular provision means related to governments requiring private companies to turn over pri

organization, whereas by avoiding or not using the wto forum. the second question is concern about the state dispute resolution mechanism in which a corporation can sue a state if eir expected profits are not gained. mr. froman: first on multilateralism, we continue to believe that multilateral trade is the highest form, but the wto, when it comes to the do ha round, has reached a deadlock. wtoali and nairobi, the moved forward with, in the first case a multilateral trade facilitation agreement, a nairobi an agreement on agriculture and export subsidies, but also a recognition that there was no longer a consensus that the doha round should continue as is, and we should be focusing on creative ways of dealing with outstanding issues, but also new issues facing the multilateral trade system. onever, our view unilateralism is that tpp and ttip will have trade with two thirds of the global economy. when you've got two thirds of the global economy beginning to get their head around a certain set of rules, work the difficult issues that allow them to

they tried to downplay tensions over potential changes to beijing's special market status in the wto. >> i'm convinced that this will be successful and, in fact, it will be so successful that we can find a solution on the lines of what we promised 15 years ago. reporter: in 2001, in a bid to open up foreign trade to china, avoiding risk that china could flood the market with cheap commodities, damaging global markets. has it been keeping up its part of the deal? many european investors are not so sure. the number of companies looking to expand in china has nosedived over the past few years. foreign -- it is becoming harder and harder to go straight to market. beijing has been accused of dumping, flooding the european market with cheap commodities such as steel and aluminum. it has severely hurt these industries in europe. but china is saying it has stuck to the deal. also, monday, officials praised measures making the china market more welcoming. >> this year's intensity of reform is high. reform of the the initiative system to encourage private capital into the market. we quickened t

just say it's wto illegal. like, for example, tobacco. we have those signs that say, you know, on every single cigarette pack, you know, this causes cancer. we accept this. in other countries if they were to put on that sign, they could be told you are introducing a barrier to trade, that is wto illegal. but people have been organizing for a long time. when juan asked his, well, then-bosses at the daily news, now he's just retired after 29 years there, they said, you know, what's the wto? so his other dn, democracy now, brought him to seattle. and i have to say when i was saying, well, we've got to go out and do this, he was saying, i've got to finish my piece for the daily news. i said, wait a second, you're here. [laughter] he was there because of this scrappy, grassroots global, unembedded, independent, international investigative news hour. and the respect i also have for juan, when he retired a few weeks ago, i was giving a speech. we're on the 100-city tour. this was around city 80. i was giving a speech somewhere, and as i was quot

at the wto. [applause] prohibited to the terms of its entrance to the wto and i intend to enforce the rules and regulations and basically i intend to enforce the agreements. if china does not stop. american trade secrets. i would use every lawful resident, look how much this is so easy, i love saying this, i will use every lawful presidential power to remedy trade disputes including the tariffs concurrent with 201 and 301 of the trade act of 1974. section 232 of the trade expansion act of nine teams 62. when they say trade expansion, they are talking about other countries. they are not talking about us. there is no expansion. we get the joblessness. that is the way it works. not going to happen anymore. president reagan deployed some of the trade measures when motorcycle and semi conductor imports threatened u.s. industry. his tariff on japanese motorcycles was 45%. his tariff to shield the industry was 100%. that had a big impact. a big impact. hillary clinton and her campaign will try to spread

china's unfair subsidy behavior is prohibited by the terms of its entrance to the wto, and i intend to enforce those rules. they're already there. now seven, very important. if china does not stop its illegal activities. i'm not going to stop trade with china. but if they don't stop their illegal activities, we're going to do a number. i've done very well with china. made great deals with china. we can do great with china. i don't have anything against chinese leadership. i don't have anything against the leadership of japan or mexico. they're just so much smarter than our leaders and they're taking advantage of us. i have a lot against our leaders because they're grossly incompetent and don't know what they're doing. so if china -- right? so if china does not stop its illegal activities, including its theft of american trade secrets, they're stealing $300 billion a year, some people say, of trade secrets, i would use every lawful presidential power to remedy trade disputes, including the application, excuse me, of tariffs, consistent with section 201, consistent with section 201 and 3

he also said he would take cases to the wto where he believes china has behaved in such a way that it has violated the agreement that it signed to get into the wto and that he would launch a comprehensive investigation of unfair trade practices with our trading partners around the world and then seem potential remedies at the u.s. trade representative's office including the imposition of tariffs against import goods, going back to the 1980s when ronald reagan did a couple of times. at one point when motorcycles were being dumped into the united states which was hurting american manufacturing. shep, a very tough speech in which he pledged that he would be tough on trade to try to bring back american jobs from overseas and make sure that our trading partners around the world play on a level playing field and play fair. shep? >> amid these new republican pledges he also went hard after his democratic rival. >> he certainly did. he singled out hillary clinton many times during the speech to suggest that she was a person that was in the pocket of wall street. one who would pursue wall stre

world trade organization asserting that china's behavior violated the terms of the membership in the wto. nicole: more hillary clinton e-mails were released. about 165 at the state department were handed over a court order to conservative legal advocacy group. nearly three dozen were from clinton's private server that she did not release last year. they year. newly released e-mails include 30 for the include 30 for the clinton exchange through her private account with a deputy chief of staff. lauren: let's say you cut up a global market action. looking better today. a relief rally. 2% gains for the ftse in london. the dx in germany at 2.2% and the cac gaining 2.6% this tuesday morning. trade to the dow, nasdaq and s&p pit that today's speech of trading race three months of gains was a very testy days. let's take a look now. dow futures up on 98. s&p futures up 22. lauren: oil prices gave up 7.5%. they are gaining $47. getting more than 60 bucks a troy ounce. train to the ulysses of grief for the u.k. pound. the first time we see an up arrow since the vote. right now 133 for the u.k. poun

trump is also addressed china's entry into the wto. were he to be elected president, who would we buy the products from that we need? >> i mean, that would be up to donald trump to figure out. he is talking about america first. i think he has this assumption that america can provide everything it needs for itself if necessary. that is not entirely true, which is why a lot of other republicans do not agree with him and think there should be trading. you have to remember the paul ryan helped get tpp through the house. supported itma has as well. there is a big group of people in both parties who do want to move forward with trade deals. matt: you could buy milk from a dairy farmer in new york. bonnie: not rice milk. matt: you could sell it to new york customers as well. there are enough people that eat beef and drink milk in new york in america. as much as we can make, we can sell as well. >> you would have to set the price and see at what price point it would end up and who would be able to afford locally produced goods. certainly, righ

the big problem here is him blaming clinton and the entry into the wto. what's interesting here, this is the same type of claim we heard from barack obama in 2008 running in the primary against hillary clinton, blaming the loss of manufacturing jobs on clinton and the decisions that her husband made when it comes to nafta and admitting china into wto. but the fact is, we experienced two global economic recessions in 2001 and 2008. that had a lot to do with the manufacturing picture in pittsburgh, pennsylvania, and around the country. more so than just one decision. >> he hit hillary clinton on trade agreements. let's listen to that sound. >> as bernie sanders said, hillary clinton voted for virtually every trade agreement that has cost the workers of this country millions, millions of jobs. >> aaron, he's quoting bernie sanders talking about hillary clinton. where's the truth? >> well, he's accurately quoting bernie sanders. it actually comes from a "meet the press" interview where bernie was talking with chuck todd. the problem is bernie wasn't right whe

it's one reason why the european commissioner for trade is headed .o the states the wto chief is in london right now. whole framework of global trade is about to collapse as a result of this one brexit or the possibility of the the nearing the eu and future. the little momentum that was there seems to be slipping out the door. absolutely fascinating stuff, ryan. great time to be there, adversely, and brussels. bloomberg's ryan chilcote joining us from the european union capital. we will speak with the chair of the european parliament's foreign affairs committee. definitely no view you want to stick around for. scar? scarlet: julie hyman joins us with more on the impact on markets. there is anxiety that things will not come down. julie: i have not seen many predictions it is going to calm down. you have the fundamental reaction, and that on top of that, you have the technical, programmatic reaction, and that we examined. 2.6 trillion dollars was erased from the value of stocks globally friday. there is an index that measured that. the world cap index. that is the decrease at you had. accord

organization, whereas, you know, by avoiding or not use the wto forum. the second question is the concern about the state dispute resolution mechanism in which a corporation issues to a state if somehow their expected profits aren't gained. could you speak to those two topics? >> first the multilateralism, we continue to believe that multilateral trade level vie dags is the highest and best trade levelization. but they've reached a deadlock. and that's why bamly in two and a half years ago and in nairobi in december the wto moved forward with a multilateral trade facilitation agreement. in nairobi, an agreement on agriculture. but also a recognition that there was no longer a consensus that the doha should continue as is and that we could focus on creative ways of dealing with outstanding issues but also new issues, whether it's ec commerc. when you've got two thirds of the global economy beginning to get their head oornd a certain set of rules, you know, work the difficult issues domestically that allow them to open the markets, it gives momentum to the

been active members of many regional and international organizations including the united nations, the wto, apeck and asean. and we have been in many arrangements such as the tpp and the fta. you will find vietnam a reliable partner and a good place for visitors. now, on u.s. and vietnam relations i think we have foundations for stronger partnership. last year, 2015, we commemorated 20 years of our diplomatic relatio relations. the general secretary and president oma met at the oval office and issued a statement on partnership. on these two decades we recognize the astounding achievements recorded so far in many areas of our cooperation including particular economic and trade relations, cooperation in addressing the war legacy issues. as there was in science and technology, education, health care, environment, climate change, security and defense and in issues of mutual concern. we have been able to talk also on issue of defenses such as human rights. and this year, 2016, president obama will be soon visiting vietnam. also his first visit to vietnam. next month in may. the two sides are ma

so the last one, wto, we're always encouraging them. and they played an important role at niairobi along with a handful of other country to help guide that process. fund given the political realities of the election, if the tpp could be all of nothing in the lame duck session, are you going to wait for them rather than try to get politicians to commit themselves before the election? >> we're working day in and day out. with the leadership, the committees, individual member to lay the foundation. obviously it's a challenging political agreement. trade agreements are always hard, they're always close. and if this environment is of course presents its own unique challenges. we're working on the hill with individual members and feel very good about those conversations, that the necessary support will be there whenever the leadership determines that the appropriate window is open. >> let's give mike a big hand for the work he's doing. thank you. [ applause ] >> thank you, ambassador. thank you bill. two straight shooters, refreshing. happen

the warning came as the david t o director general -- the w geo director general -- wto director general was in london. and the ceo of a french train operator is hoping for an end to a weeklong strike. optimistic that cgt will back a compromise. this comes after several concessions in a standoff over working conditions. smaller unions have rejected the olive branch, promising to continue striking. the question is whether or not the strike will be over in time for the european football championships. the countdown is on ahead of friday's kickoff in paris and it is not only a standoff between football teams but also sports brands. and a nike are hoping to cash in on the tournament. reporter: the kickoff for euro 2016 is in just a few days time, snd it is not just football tee high on the price, but major sponsors, too. adidas holds a massive 37%, 90 second with 29, and -- nike second with 29 command puma third. adidas looks to hold on to its winning streak. it is the provider of the tournament for both. last time it sold 7 million replica balls. severalepresents champion teams including ge

q&a,e: hours before the tv the wto's director general said if british businesses found themselves cut off from eu trade deals, they could have to pay billions in tariffs. genie: the deadline to register to vote in the referendum has come and gone, but british politicians have demanded would-be voters be given after time to register online. that is after the website crashed and thousands scrambled for a ballot just before the deadline expired. next, turkish media is reporting that a car bombing at a police headquarters near the border with syria today has left at least three police officers dead and several hurt. an explosion occurred on a main street lined with cafeterias, shops, and banks. that attack was after a day -- was a day after a police vehicle was attacked in his temple killing 11 people during rush hour. and as funerals for the victims were under way. no one has claimed responsibility for the attack. there have been more corruption accusations at the head of brazilian politics. the top prosecutor in brazil has asked the country's highest court to arrest senior political all

china also was to have market tied tostatus, that joining the wto. the chinese saying that 15 years on they should be labeled an economy market status. that would make it more difficult for the united states and european union and pose sanctions on them for dumping. rishaad: john taking to the lectern now. john kerry taking to the lectern now. we are having a look at reaction from shanghai to hong kong as they open up. juliette: a little bit of hivergence between the a and share markets. really following on from that negative lead we were expecting with that payroll number out of the u.s. if you have a look at some of , itlosers in the hang seng is the casinos. that is playing out there. on the a share market, pretty flat at the moment on the shanghai composite in early trade. those industrial players showing some strength there. elsewhere, japan beating the weion lower, down by 1.3%, see the yen hold onto one-month highs and gold stocks lifting the australian market today, australia and new zealand -- ofea i want to show you some the movers we are w

is considering all of the options open to us at the wto. certainly in relation to the recent transaction with delta airlines and the $500 million owners contract provision that was made in their books. that would made us -- lead us to believe the aircraft are heavily subsidized, coming from the confidence on cartier has on subsidies -- bombardier has on subsidies. effectively now what we have is not a level playing field. we have the canadian taxpayers subsidizing c-series aircraft and perhaps even below cost. that is not sustainable. wants to compete on a level playing field and we have a very good track record. that we ared focusing on north america and western continental europe. we have a global perspective, but to talk about north america, since january 2013 we have over 80% market share in the regional market. embraer is competing very well indeed. mark: does bombardier's deal with delta i get difficult for you to gain new orders -- make it difficult for you to gain new orders with your jet? john: not at all. we are in a number of act

like wto protestors in seattle. we haven't had any violence here, but they get the point. maybe this is a legislative version but they weren't engaging in any way, shape, or form of what the democrats did. you may remember a week ago, the assistant democratic leader from south carolina trying to get recognition and tried to engage the house on when are we going to have gun votes? that got to be a heated scene. you had some democrats from northern virginia saying he doesn't think he'd ever seen a member of congress treated so poorly. >> so we have just about a minute. you said it's 12:55. is that when we're expecting the next vote? >> yes. i'm going to look to see if there is an update. it says substantive vote series coming up very soon. we don't know specifically on what. there is a one thing i can tell you is that it's not going to be anything about guns. democrats have the republicans over a barrel. they think they can take this issue to the court of public opinion. >> thank you. we're going to take a break and we'll be right back. thanks for the ride around norfolk! an

if we lived the single market, go to wto rules, we'll have tariffs imposed on the goods they sell to europe and that would make us suffer. many independent experts forecast the cost of living rises in the cost of family shop rises in holiday rancid and she's right it's not worth the risk. we should keep our country safe. thank you, mr. speaker. file in the chance is very welcome announcement to the growth commission, could the prime minister outlined the focus to deliver the much-needed infrastructure and economic development that would allow my wonderful constituent did. >> whenever i get a question, i remember how grateful i am that she is sitting or rochester and representing happy days. [shouting] in terms of the 2050 growth commission from the key areas are still in infrastructure and there is a serious amount of money committed to the infrastructure and we need to look at things including the crossing to make sure they can make the most of its potential. thank you, mr. speaker. 2.5000 in my constituency jobs are dependent on e.u. trade. the rights are protected by the chapter a

richard, if it did happen and britain were to wto itthere was to be would come into effect, some kind of limit for what can come into the country as opposed to substitute pork? >> the thought of that. it is limited to eu countries, so it would be lower if it did leave the u.k. cambodian peppers are affected under the eu legislation. that means these things is sold in the eu must be a designated origin. it doesn't mean they have to be an eu member. vonnie: to the other countries -- there are meet markets like british pubs the world over where they make pies, but is it a general commodity in places like france and germany? >> it sounds unlikely. in france, it seems unlikely. off do to keep our hands the stilton. it is good for consumers to know that a product is produced where it is supposed to be produced. mark: how does good stuff a chain protected food status? >> there a three different kinds of status. it is judah for graphical gasquet's geographical partners, -- it isers sardines geographical partners like cornish sardines. scotland.rade up to ,ark: and are the sales boosted you ha

we don't even have a seat at this point ourselves on the wto. the wto trading rules, there are big questions here. the e.u. us issues as to whether or not we have comparable legislation. these come as regulations from brussels start from scratch. how can a global financial center maintain the position if we have to start going to effectively what do you have in dodd-frank all over again. maria: and important point. 100,000 jobs will be affected. companies will be moving jobs from london to continental europe but this starts with immigration. what kind of reform do you want to see in the european union? you yourself have said it was not perfect it needs to change. >> the largest economic block in the world, back to finding tools and levers we have that make europe really strong in terms of jobs and growth. the largest funds, private public partnership, 350 billion, investments in high-growth innovation and that type of funds is what we need to see more of, less red tape. reforms are started but not going fast enough. everything back on board. and

have a relationship determined by the pto rules -- by wto rules. that would be best for german manufacturing and the british economy. find will be a desire to some accommodation which will be access to the single market in exchange for obligations. short of the burdens of membership. >> the great tragedy is with david cameron's resignation, there will be chaos. the idea of an orderly path is this much. charlie: he will go through october or november. gerry: there will be a new conservative leader by september 9. be one time when going slowly is not so bad. i agree that uncertainty is bad so you want to have clarity. on the other hand, the europeans cannot do anything until britain triggers article 50. if we take our time thinking about it, i think frankly once we have a new leader of the parties, we are going to have laying out of what the two parties see as the future of europe. will have to be another general election. this has to have some sort of mandate. you can't have a referendum which was won without any clarity about what comes next. when

if you look at the fallback option, which is trading according to wto rules as the united states does with the eu, that is about goods, involves 10% tariffs on cars, which britain mostly exports, nontariff barriers, involves much worse terms than the u.k. enjoys now, and then you have all the free trade agreements negotiatedeu has . the u.k. would have to renegotiate all of these from scratch with a much smaller ,conomy, largely open markets desperate for deals, and likely to get much worse terms. we don't even have the trade negotiators. britain has not negotiated a trade deal for 43 years. we don't have the people or manpower to do these things. matt: i understand everything you're saying, but we are talking about the european union , only a 23-year-old political construct. assuming britain did want to get out of the european union, is there any way for the country to union without descending into this pit of chaos you are describing, or is it has to be aly will to get out of a 23 year old union. britain has been a member for 43 years. not that long compared to the history of this c

there were protests in seattle against the wto, then what you have right now, the rise of donald trump, brexit campaign, was it abstract then and it is concrete now? connect the dots for us here. >> it has been brewing in the backdrop but never had mass appeal. an anti-globalization campaign has not taken power. u.s., it has been to push hillary clinton away from pro trade positions. england, whichever side wins, a substantial portion of the british public will have said firmly that we don't one is much immigration. ony are having an impact public debate and public policy moving ahead. it is that type of thing that could stop globalization from fraying. joe: fascinating stuff. up, the sum of all international fears explained in one chart. we will show you next. ♪ scarlet: i am scarlet fu. "what'd you miss?" the sum of all international fears. this shows how investors have stockswn european relative to the s&p 500. it is a ratio. when the line goes down, stocks are underperforming. it is a 60% underperformance since 2010. 2010 as when the european debt crisis began in earnest. he says

will we go to wto rules or stood staying in what is happening today. wewill ultimately go to how rate and investments. i think there was a premium for u.k. assets which may very well disappear. drags then i wonder if 3-6 months is enough time. i don't know if we will have the answer to those questions six months from now. and three months there will be an election. it is a sense of time as weight and see. if this is the weight and see. , we have to see what are the second order effects. >> are you similarly cautious about europe during this time of uncertainty? frederico: i was trying to quickly allude into what a second effect would be. europe, the euro, and what can be happening in the 500 main common market of europe. >> of for this interim. interim time, where does it go? frederico: it is weight and see. -- ihad to take a guess, don't know. >> there you have it. private assets. coming up on bloomberg , will the uncertainty and brexit lead to a change in m&a deals. ♪ okay, ready? whoa! [ explosion ] nothing should get in the way of the things

the insurance industry is very concerned about these draft proposals on the wto and china pushing them to use chinese software and chinese hardware. the insurance industry says where her the top of the list when it comes to these concerns. already -- >> tom mackenzie in beijing. thank you for that update. moving to online harassment, twitter has often been criticized for its lack of action against bullies, threats and online controls. he was harassed for someone anonymously on twitter. peta was sent to his house to signify that they know where he lives. thompson reported the issue to twitter and twitter suspended the account and then there is renee. while her story is more frightening they are both here to tell us all about it. parker thompson and renee, co-author of the hardware startup in your product business and brand. thank you for joining us. tweeted all, when i that you would be on the show, people started tweeting back at me with a lot of hate directed at you guys and renee. what you tell us the nutshell story. >> last year, i got involved with the campaign to eliminate vaccine

and from there, he went on to talk about trying to tie hillary clinton to china's entry into the wto. essentially trying to lay blame at the loss of manufacturing jobs to the clinton doctrine as well. >> taking a look at the polls, it seems like clinton seeing a bit more of a lead as of late. that is why we see trump ramping up the language. when it comes to trade, according to our colleague, it seems like his speech recanted 30 speech -- 30 years of republican thinking. >> absolutely. that is been the core of republican thinking, that more trade is good. >> thanks so much, joining us live from washington. more coming up next. fundsexit has hedge bracing for one of the worst quarters in recent memory. keep it here. ♪ >> we are a half-hour away from the opening of trading in singapore. you're watching "daybreak asia." asian stocks are rising following the first b postrexit --post brexit bounce. shares in tokyo rose 1% after prime minister shinzo abe met boj officials and cabinet ministers for a 30 day, and for a 30 day, promised -- for a third day. eu leaders say the u.k. operators m

we want to get china to deal with those challenges, and if necessary, to bring wto cases or other cases to make sure they are held to account to their international trade obligations. david: my interview there with the u.s. trade representative kirk froman. -- representative michael froman. vonnie: moore, next. ♪ ♪ david: this is "bloomberg markets." i am david gura. vonnie: and i am vonnie quinn. the victorious cleveland cavaliers with sports coverage and advertisers, and the details on how significant this is, and we bring in bloomberg' is jerry smith, who covers media. so the biggest event in a decade. is that because right now you cannot buy packages? you just have the whole nba finals series? jerry: yes, the audience is huge for live sports, and the way it is right now, more and more people are watching shows on demand, and the fact that a network like abc, it has all of the nba finals, and you get this huge live audience that is good for ratings, and that also means it is good for advertising dollars, as well. david: with the series, there is a 3-1 comeback, as well. yes, such