also saw china as a threat. so it -- they both, so it was only in areas where there was competition that i focused on. and i do not think there was really competition between the u.s. and china in latin america, at least during the time i was talking about. the u.s. was much more concerned about fidel castro and the extent the soviets in latin america. the example about namibia, this issue about china bringing its own labor, i think that is something that has become more and more of a problem in contemporary chinese projects than it was in the 60's. i think during the 60's, you are right, in the case of the trans am railway, there was thousands of chinese workers that were sent. i think there was also some appreciation in ways that these workers were toughing it out in africa. and you know, so there was, the reaction was a little bit more mixed. if you look at the range of african opinions about china and chinese aid in africa today, they are very diverse. you have some african leaders denouncing china and sayin

the onus is on china to enforce these sanctions and to re-enter. the position of china when it comes to banking with north korea u.s. president donald trump has said one thing china is saying and maybe not can you clarify this for us. yeah look at president trump on thursday basically offered more sort of provocative praise of president xi jinping thanking him for the fact that he said china's central bank had now agreed that its banks would no longer deal with north korea well on friday evening china's official foreign ministry spokesman appeared to dispute that he said that wasn't what how china quite viewed it did or didn't conform with china's facts so that once more created a certain amount of confusion i think that what has happened is that privately china has gone along with this because it's worried that the united states might penalize one of its big banks there's been a lot of talk about that and china wants to avoid a situation where one of its banks could be excluded from the u.s. financial system but what it didn't want to do was to ha

so the china, you know, china's leverage is limited. they haven't got it. -- they have got it, they could use it but it is the kind of leverage that could come-- have enormous blowback for them if north korea did fall apart. >> glor: people forget that, they think china and north korea get along, and they just don't. >> they don't. that is the old propaganda line about lips and teeth. i'm afraid it is not like that, if it ever was. north korea always in the cold war days used to play china off against the soviet union. they have got their own way of doing things. you know, the kim family business and dynasty, that is what drives them. it's not being nice to china or anybody else. >> glor: and do you believe people underestimate the kim dynasty? >> well, clearly they have, you know, we've had collapsist theories for years. it didn't happen. we had this guy come in and take over the country at age 30. we don't know too much about china-- north korean internal politics but we certainly know he didn't know how to run a country. he has done

let's move on to china. higher on are trading news that the government is eyeing a deadline to into sales of vehicles powered by fossil fuel. this would make china and the biggest market to set a target for facing out gasoline and diesel powered vehicles. tom mackenzie is tracking this for us. this is significant. is, although not all together surprising. byd backede likes of by warren buffett investing in electric vehicles on trading higher today on this news. automaker based in beijing have also invested heavily in electric vehicles. this is not surprising for the industry. there has been a lot of focus on government subsidies in this sector where. a lot of money has been produced in the whole ecosystem. china once to reduce its reliance on imported oil. also importantly sees this as part of an industrial strategy. they do one a play at dominating role in the electric vehicle market, and this is part of that pushed, batteries as well a key focus. that is why we have seen regulations to set a date for phasi

china already has this salami slicing policy in east asia, the sea, china sea, east china accumulating influence in such a way that it is hard to the u.s. to push back. i think at the core of what the u.s. has to do as long as the u.s. is committed to its position in asia is to strengthen alliances. that is the most important thing. the second thing that has to happen if people are going to push back against china does not necessarily involve the u.s. it involves other asian countries joining together here at instead of what the u.s. used kescall the hubs and spo relationship, it is now kind of a network arrangement. japan and india, japan and the philippines, you numb and india and india. all sorts of allied countries joining together in new types of security partnership to bolster the old u.s. alliance system, which is not as strong or dominant as it was. >> china once the u.s. there on their terms? richard: yeah. the fascinating thing about china is china has been a huge winner from pax americana. let's not forget that. the u.s. is the security guarantor in asia has provided a platf

china is either too hot or too cold for people. china is doing fine. made, athe reforms are lot of policies in place are taking shape. so this part of the world is in good shape. fore: china is preparing their party congress. xi jinping, liquidity and the changing with leveraging. how does that impact foreign investors? jonathan: the last five years has been about his plans to clean up large parts of society. he will focus on financial this time around. what he wants to do is open up marketplaces but open marketplaces that control fashion so they do not get out of control. this is how he came to power during the global financial crisis. he saw the damage that did and the extraordinary stuff he had taken to make sure this huge system risk. xi jinping is cautious. he understands the needs to put the market more at the forefront of the economy, but he does not want it to be uncontrolled. angie: china was one of the most inquisitive countries in the world. [please stand by] it looks like we just lost the signal for the interview between the clsa ceo and if

started in two thousand and twelve with a lust china that's let them a disease of china right she now so there's going to be a new owner who is going to be the same leader go exactly to day at all as i know they are ok the guy go in for ten years like she could be for another five years i think they appoint a new leader but you know this is a very unusual move the g twenty is like start this stuff like he's going to be around for a while looks like he's going to be going to the well probably you know it's not covered here on the news we've been here for the past few months is not covered on the news because everything is russia great russia great russia gate hillary clinton's mental breakdown all this sort of stuff that this is all this coverage so so americans are not informed about the world around them the important stories happening they were poor in story happening is the end of petrodollar the end of the u.s. as the number one only saw solitary supreme power and the rise. well there power let let's go back to our story here so the price of oil would because of the consolidation

was that in the words the words on fire and fury of those words were aimed at china to get china involvement this thing i'm not going to do all on on words that one particular president doesn't use or does use and i can hear him talk about north korea and the threat that it has to the mr mansell my point was that mr trump employs very unconventional language not only with regards to north korea but also concerning the united states' closest ally south korea which interest i'm sure i'm very close to your hardon chief find dot kind of language to rob a question and bone here's the president states if i were president i would use different language mr mandela to draw you back to the question i posed before that with president trump he said that they meaning the north koreans only understand one thing what do you think he could mean by one thing. no he said he said that everything is on the table so you can rule out anything when you say everything is on the table you do not marry down to one thoughts on a doornail asked me to get inside the mind of donald trump because i don't i'm not capable o

it has a virtual monopoly position in china so virtual monopoly position in china so its future is looking pretty rosy u nless so its future is looking pretty rosy unless somebody comes along to somehow challenge them. thank you very much, stephen in beijing. let me run you through what the markets are doing. shares in asia down for the second day after north korea's nuclear test — with investors watching signs that the country could be preparing another rocket launch, possibly an intercontinental ballistic missile similar to the one fired overjapan last week. but we saw bigger falls on earlier missile tests, some suggesting that this just becomes a new normal, rather than the unease we saw when tensions first escalated earlier this year. weaker manufacturing data in the uk yesterday didn't do much to boost confidence either and today it's the turn of service data from spain, italy, france and germany but after a good start to the year and some healthyjuly numbers we could also see some slight fall off here too. more on that shortly, but first michelle has the details about what's ahead

china does not want that. i knew if the trump administration could convince china that it is serious, credible option for the united states, china would say okay, let's do everything we can possibly do including really tough sanctions, let's get on board with the united states and the international effort to try to prevent that, which would be a horrible thing for everybody involved. this is something the obama administration, they said all options are on the table and try to get china on board but china didn't take it seriously. it has taken the trump administration to get china on board, this is a major to phonetic achievement. >> julie: you can easily say this is the biggest development when it comes to foreign policy and president trump and how he has handled this, earning him major credit here. during today's trilateral meeting, they all sung president trump's praises, referring to him as "donald" several times. it shows how significant this close relationship has come between these countries. the closest

to put pressure on china? >> the president has been very clear that he views this threat of north korea as ever growing, as we've watched each missile test and each nuclear test their program is advance, it's advancing technologically and capabilities. we've said from the beginning we don't have a lot of time left. we don't have a runway left to land this plane on so we need china's assistance to bring them to the table. >> dickerson: this week the president is going out to the united nations and going to speak. he's talked about an america first policy, one he's talked about. united nations is a collective action group how does america first fit into a group -- organization that exist through collective action? >> it's a very important week for the president and the u.n. general assembly. there are two aspects of his participation up there. one is his major speech that he will give to the general assembly, the world will be listening, american people will be listening. the message he's going to deliver in tha

china, for example u is -- is seeking to dominate the south china sea with the south china seas. they will continue to to do thao matter what we do or say. trish: great to get your analysis, appreciate it. now joining me right now on thoughts of north korea, fox news strategic analyst and, author, lieutenant ralph peters. colonel, good to see you, we have been talking for days about this and it's been heating up considerably with just last night kim jong un flying a missile over japan, what stage does this leave us in now? >> well, we need to realize some basic things. trish, kim jong un is not afraid of us. despite our overwhelming military power, he doesn't believe we will use it. he believes we are tired n -- in retreat. but overall, kim jong un is convinced that even though -- china will back him and putin will back him and we won't fight. i have tremendous respect for nikki haley, she's really amazing, i think she has a great future ahead of her but she didn't talk about key economic issue which is smuggling. so much of this, the sanctions are being undercut by chinese and r

china's behaving badly so look what they are doing in the south china sea. they aren't building resorts as the south china sea they are building militariness haitians and a blue ocean navy so it's not the isolation of north korea acting badly. it's china as well expanding it. >> trish: so we need to do something about china. china holds the key to north korea and this is a confrontation that will have to happen at some point given what china is doing from a military perspective as you point out. >> the only thing you can do to china is put economic pain on them in some way, shape or form. >> trish: economic pain there is much much we can do. we've only sanctioned one bank. >> this is the only thing we were dealing with, the whole government, we're dealing with so many things on this front and don't think they don't know it. don't think they don't know the presidents in texas for the flood it's the most serious disaster we've had in this country. >> trish: good to see you guys thank you so much. still to come everyone the one thing to watch for in the week ah

only one country does, and that is china. china was quite literally shaken by the blast. north korea's nuclear test site is only 60 miles from the border. it will have sent a diplomaticjolt, too, coming just before president xi jinping opened this international summit. although he made no direct reference, he warned of the challenges to world peace. on state tv, the message was more blunt, with an official statement strongly condemning the test. there can be little doubt that the government here in beijing is rattled. once again, it has had to order emergency radiation monitoring along the border. but, despite the frustration, as always, it may be reluctant to punish north korea too hard. china has recently been stopping cargoes of coal and seafood, in line with toughened un sanctions. but its biggest fear is not nuclear weapons. it is the chaos that would come with the economic collapse of the impoverished state, shrouded in darkness, on the other side of this river. john sudworth, bbc news, beijing. let's take a look at some of the day's other news: thousands of people

we have seen a shyness than what he was saying about china's interest and priority in china wants to avoid instability in region collapse in north korea but china needs to see that we do not have much time left and does it really touch on a very one nuclear north korea what does that mean the missile possibly nuclear arms race in the north east asian region with south korea part of japan following those potential nuclear proliferation now we're very close to a conflict more than ever before i still think it's unlikely but we are they are china south korea china is number one trading partner for south korea the trade partner between china south korea's double we're going to south korea u.s. south korea japan combined china only so have i think the difference in it is a sort of understand that there's interest in priority of just supporting north korea giving blank check to north korea has not worked and we're not at the close of the end game here and i think china needs to leave value should you showed earlier about you know the regime change was being a problem and charles has talked

the rba is cautious about china. what is the credit stock in china? what is the economy slows -- what if the economy slows? from that point of view, they won't stop. one of the reasons is they don't have a lot of inflation. this is where they have a similar problem to the rest of the g-10. they have a low rate inflation. the end of last year, they were recording the lowest wage inflation ever, given their economy wasn't -- anna: they do so much. jane foley stays with us. -- thank you so much. jane foley stays with us. beus: donald trump said to ending another obama era program. the details to come. what is the proposition he will put to congress? this is bloomberg. ♪ ♪ anna: welcome back, everybody. we are seeing money going into the japanese currency, some of the other safe havens also the what -- looking popular for a second date in a row following the activity on the korean peninsula. let's check in on the market action. nejra cehic shows -- joint this. nejra: we are seeing a second day of declines for asian equities, not quite as much as where

one, rand recognition is still very important in china. apple does have a very good brand in china. i would think in the next year that the iphone can probably get for the executives, so that is important in china. another thing is that it depends on the business model, how apple launches the platform in china. ,hen it comes to b2b business alibaba for e-commerce, tencent ar gaming, and with the facilities and the new phone, can they leverage these two platforms. own emoji, design scheme, and play the game together. that is a different experience. when i shop, i can create an experienced that is beyond the hardware that the people in china are looking for. of course you can leverage the two giants in china to help you. david: fingers crossed. thank you for joining us on the program. coming up on the program, we look at the suppliers in hong kong and how they will react to the launch in the premarket. that is coming up next. this is bloomberg. ♪ ♪ we are minutes away from the open of markets in china and hong kong. up 12 points, not. the past two days have not been bad at all. we

targeting china. and also james just looking at some of the comments coming in from the new he's the u.s. seems to have persuaded china if indeed that has happened we're not sure what's been going on behind the scenes to do more in terms of instructing their banks not to do any business with north korea but here mention is saying that the u.s. will call on russia to do more as well. yes what we. didn't hear any mention of that from either the russian foreign minister sergei lavrov or from the chinese foreign minister so it's not something may well have been coordinated there may been talk spying the scenes and we understand from president trump of the chinese central bank is telling other banks in china not to do business with north korea it's certainly not something that either foreign minister wanted or trumpet in the speech it wasn't something that was coordinated in the sense that they wanted to make it all a joint decision suggesting that some of this is being done somewhat reluctantly and that w

a group of six world powers namely china france russia the united kingdom the u.s. and germany are part of the deal which included the lifting of sanctions for iran scurrying up its nuclear program about analysts say the trump administration isn't likely to back down on the agreement president i think there are two aspects that are problematic about this deal first is his overall perspective towards the muslim world which i would characterize as wide deep intactness and the second is basic business this deal doesn't make sense from an american business perspective it doesn't benefit the united states economically the core of arc and of the iran nuclear deal is that the broad made a series of concessions on its nuclear program in exchange for the united states essentially lifting sanctions on other countries. the international powers that brokered the deal are pressing the white house stick by it their grammont prevent iran from its nuclear activities for ten to fifteen years it also allows staff run to maintain some of its nuclear stockpiles for research and medical

use china as crucial to attempts to stop killing and developing nuclear weapons china has strong economic ties with north korea accounting for about ninety percent of its foreign trade. earlier i spoke to steven burrill wake our correspondent in seoul south korea i started by asking him how important china's role is in developing channels of communication between washington and pyongyang if u.s. and north korea are in some kind of direct contact and presumably that's a diplomatic process that's going ahead without china's direct involvement and whether or not that you site sit down to talk will depend on a variety of factors particularly the preconditions that they place on any kind of talks north korea has historically resisted talks that were predicated upon its taking steps towards the nuclear as they should that being said china is of course very important to any sort of approach north korea given the amount of economic power that they have on north korea and i think some u.s. policy makers and analysts have in the past assumed that china has this sort of magic ability to affect north

china. the planned sale of a chinese business, is positive, according to the company thing that it is seven out of 112 market in china have been closed, and it is still early in the session to see how investors are taking on the latest missile test from north korea. back to you guys. betty: thank you so much, sophie. with the market reaction. we will see reaction throughout the globe, jodi schneider our manager from hong kong is watching and also our managing director from government chris. in tokyo. chris, first to you, we have not heard anything yet from president trump. we are waiting to see if he will make any remarks during this dinner. what do we read into the no response yet from china or the u.s. to this? >> well, the white house has said the president trump was briefed on this launch by his chief of staff. the chinese have a regular foreign ministry briefing, and no doubt this will come up. i suspect we will hear the same from the u.s., as we have already heard from japan this morni

united states and china. >> we buy a lot from china and china holds a lot of american debt. that would get into a whole round of things. >> that's called a trade war. that could stand to shave 3 to 4% off gdp in the united states. that's a recession. i think the president either misspoke or not thought through the facts when he made that specific threat. that said there is more done, as jack signaled, to think about how to squeeze china on this. to make that remotely effective, i think the administration needs to take a step back and ask the question, what is our end game with north korea. over the course of just this summer, they have ticked off a number of significant milestones. testing an icbm twice basically successfully. claims that appear to be credible they can miniaturize. no if not now, soon. they have tested thermonuclear device. if this is indeed a boost fission as opposed to hydrogen bomb they are not far away. what is the point of sanctions an what other tools do we put at our disposal. that is, what is the role of diplomacy, deterrence and detainment of the no

let's ta ke pakistan and especially china. let's take a look at the trade between these two economic him it. the us and china, it is worth around 650 billion us dollars, and that 80% of north korea's exports are to china, but will they be enough to stop pyongyang from further missile launchers? well, ispoke pyongyang from further missile launchers? well, i spoke earlier to oui’ launchers? well, i spoke earlier to our asian business adviser. north korea is an ultranationalist, xenophobic regime which cannot be influenced by outside powers, so china cannot tell north korea what to do, but it can cut north korea off and that a collapse, which i am convinced is the only way out of it. china has showed it is not willing to get serious, so i think our only resort would be hard secondary sanctions on chinese entities and banks enabling north korea's weapons trade. also, if nikki haley is not successful in getting an oil embargo through the un, we should cut us dollar access to any company supplying north korea. but there could be r

china, home of alibaba. beena past 18 years it has for not only alibaba come of the china as well and the global internet economy as a whole. we were here for the 18th birthday bash. . packed in with 40,000 employees into a outdoor stadium -- an outdoor stadium and we spoke with jack ma. cofounder and group ceo. >> everybody has a big chance to go digital, but people need to change, three liters driving alibaba: the global disruptor. ♪ it was a humble beginning for jack ma as they cofounded alibaba in 1999. the chinese were even connected to the world wide web and alibaba wanted the answer. senior executives were quarantined and that gave birth best platform which growth ebay out of china and led to the single day shopping extravaganza and the launch of many new businesses. much like bloomberg set up for the interviews, the rise of alibaba has been no small feat. more demanding. -- eight next step me be even -- the sars, there's a lot of things we can learn, but today the things we are doing, there nothing

china could turn off the tap. but now, with north korea on the brink of becoming a fully fledged nuclear power, the oil from these storage tanks continues to flow. and of course, you'll find plenty more about the north korea nuclear crisis on our website. just go to bbc.com/news for updates, analysis, and the latest from our correspondents in the region. you can also download the bbc news app. let's quickly round up some of the other main news for you. us media is reporting that president trump will end the program known as deferred action for childhood arrivals, or daca, which shields certain immigrants from deportation if they came to the us illegally as children. the obama administration policy currently protects around 800,000 young men and women often referred to as dreamers. aid agencies across south asia are still trying to reach millions of people affected by the worst floods to hit the region in years. the un children's agency, unicef estimate around 16 million children across india, bangladesh and nepal

china and tell them do this do that but i think kim jong un should watch out because if he pushes china too far there's a lovely phrase or china scholar perry link used the anaconda in the chandelier i think you may be about the cobra you know that china will put up with a lot but one day you know if kim jong un pushes china too far you know what if they cut the oil he's gone right bruce it seems very much as a key to any response is going to be called a nation between the big powers south korea china the united states japan and perhaps russia there's a complete lack of coordination at this time. look at russia. officially they say a stance ability that they want the denuclearization of the korean peninsula but perhaps on officially from different scholars i've heard there are to accepting the fact that denuclearization is improbable if not impossible and so what do you do then you accept north korea is a nuclear state and you as i perhaps i mentioned before pick up on arms control measures to make sure that there is no bullet proliferation of weapons from north korea you cap what they

puts pressure on china to do more. what's it going to take for north korea to do what we need it to do and get rid of the kim jong-un regime. i'm trish regan. juan williams and gentlemjason, start with you. what is it we need to do right now? because we cannot allow this regime to be able to have the ability to hurt us and to hurt japan the way he can this right now. >> look, we've done what, eight or nine sessions of sanctions? i don't think those are going to work. if they were going to work, a, we should have done the maximum a long time ago and, b, i don't think kim jong-un cares about his people. we have a lot of military might, but it's only china and russia that can put pressure on the north korea regime, but then again, i think our military's going to have to step it up and they may be having a little more show of force. i think that president moon of south korea has taken a much more palatable, if you will, stance against north crowe. he started out as more of a dove and he's been a bit more hawkish. >> everyb

china is a big country, there is not a consensus on anything in china. people have a different point of view. we need to be able to work with the chinese and understand them better. this means clearing the decks, this means all hands on deck. the 100t address different items that we have on the agenda with china, we have to pick some priorities. i would submit that north korea is one of them. i don't think any country can live with a nuclear -- a country aiming nuclear weapons at it. for the united states, this would be the first such country to do so in many decades. finally, this is a kind of gray area, there isn't space between peace and war. the idea that somehow we should strikeme preemptive against north korea, we would not get all of their nuclear materials, and most importantly we would have to make sure the south koreans are comfortable with that. if they are comfortable with that, they have to make sure that they feel they are willing what 20he risk of million south koreans within artillery range of north korea would need. option, it an easy wo

china china as a potential target i don't know whether my experts would agree with me charles i make investments in india as well as in china and i have to agree with you wholeheartedly because we even see in the indian prez. attempts at starting trade war against china boycotting of chinese products chinese goods now in the chinese case i have to say the media is pretty unified in terms of wanting to play down the event so those of us who are in business don't see any possibility of a war because it really helps some third party but the media in from india actually had some ok that are state ads i take your point but i think that's a very very contentious point because the way we see it in india as we read the global times always read several of the chinese publications including publications online. accounts as well is that india is that china really wanted to up the ante in this particular case the use of the term war was used in common trees and editorials in the chinese media there is only one is a lot of times india did not want a war does not want to always we want peace yet w

china limits feel exports to north korea and raising the pressure on kim jong un. also disclosed in is evil and where they will. liberal opposition leader is in a close race with the conservative prime minister. and the death toll from mexico's earthquake approaches three hundred searchers refused to give up hope for possible survivors. bronnie and state media has released footage of what it says is a successful test launch of a new ballistic missile a corum shahr has launched was launched rather just a few hours after it was unveiled at a military parade in tehran apollo stressed by u.s. president donald trump that washington may withdraw on the two thousand and fifteen iran nuclear deal present house and rouhani says tehran will not seek permission from any country to strengthen its defense possibilities and capabilities seen em cosell of reports in those one on one these are iran's latest ballistic missile with a range of two thousand kilometers they can reach much of the middle east including israel during his speech president hassan rouhani defended his countr

/china relations? >> reporter: i think it is quite possible, isha, that china will not take any further action than it already has. i mean it is abiding by these latest round of tough united nations sanctions which were imposed about a month ago. but as far as the north korea problem is concerned, china and the u.s. are coming at this d diametrica diametrically opposed positions. china sees north korea reacting in self-preservation, to survival from what they perceive as an aggressive, hostile u.s. which is interested in regime change. the u.s. sees north korea's actions in terms of it is a rogue state completely ignoring international convention and developing illegally a nuclear weapons program together with an international -- with an icbm ballistic missile program which will threaten the united states. china is unlikely to move away from that position. one interesting development here is that the u.s. is talking about upping its military assets in this part of the world in response to what north ko

we work with china and others. china has a lot of trade with them. there is a lot we can do to cut them off economically. much more than we have done already. >> at the beginning of august you will remember that the president raised a lot of eyebrows when he says that his bedminster home that north korea with face the "fire and fury" of the united states. if they continue to threaten the us and its allies. the president also tweeting the us has been talking to north korea and paying extortion money for 25 years.talking is not the answer. so it looks like they will continue with the economic pressure. the idea of military action still very much on the table. >> economic pressure i've been saying all along does not make a lot of sense because we had just begun to scratch the surface and terms of what we can and should be doing with china. people are still saying that there itis some diplomatic opportunity here. there is room for despondency. will that come in the way of economic sanctions or are some point we getting downward to military action? >> cle

president donald trump announced that china had ordered its banks to stop dealing with pyongyang the chinese government has since denied that the white house is also targeting north korea's energy medical mining and transport industries and the u.s. treasury says it could sanction anyone who owns or controls a port of entry that agent brown has more now from beijing. what china has now essentially begun implementing what it agreed to at the united nations security council on saturday a statement appeared on the website of china's commerce ministry it said that as of now china was no longer importing textiles from north korea textiles have been until now an important source of hard currency for the regime also as of saturday china is no longer exploiting things like liquefied natural gas as well as condensate or oil and significantly china is going to limit the amount of oil that it exports to north korea those exports will be capped at two hundred million barrels a year now last month of course china agreed to other wide ranging sanctions against north korea it's no longer importing

/china policy. and how can we better pell the chinese -- better compel the chinese government to work with us on this issue? >> i think we need to separate law enforcement from diplomacy. we can continue on the u.n. path on cajoling and pressuring china to do more to implement required u.n. sanctions, but we don't need chinese permission to enforce u.s. law. we make clear to them that we are not going to negotiate away our law enforcement which -- so we can have, or we have had incrementally better u.n. resolutions, but we should not incrementally enforce u.s. law. >> thank you. ms. rosenberg, if you could pull your mic up a little closer when you respond, could you elaborate on data sharing between the private and public sector that you mentioned in your testimony and what we could do, what type of enhancement and capabilities that could provide us and assist you our efforts? >> sure, thank you for the question. in my written testimony, i outlined a couple ideas that i think would be a good opportu

united states, europe, and japan, by operating in china and exploding china's week export control. although china is improving laws, beijing has not done an adequate job of enforcing laws and sanctions against illegal exports to north korea. i provided several examples in my testimony. china remains north korea's supply condit for its nuclear weapons program. one of the priorities is to change that. the trump administration's efforts to sanction chinese and russian owned companies and individuals that significantly support the weapons programs is a positive step. unless china shows improvements in ending trade with north korea, united states should go further and sanctioned major chinese and russian banks and companies for any illicit north korean dealings. they have gotten away for far too long and faced to few consequences for turning a blind eye to the sanction busting activities of their citizens and those of north korea in using their economies for nefarious purposes. north korea has a diplomatic path on its isolation. any such negotiations would need to repair past mistakes w

washington calling on china and russia to take action. and markets,sponse 1.10.r-yen above our global disruptors series, alibaba founder jack ma, his plan for international expansion. this is "bloomberg markets: asia." ♪ we thought it was going to be a quiet friday. i would not say there is a lot someise, but there is movement into safe havens. dollar-yen outflows coming through. ind is up, a move down -swissie. suisse on theedit japanese markets and how they are changing their outlook there on japanese equities. , 4055,look at my chart very straightforward. credit suisse is saying if you look at the headwinds facing japan, whether uncertain boj policy, a diminished case for a weaker currency, strengthening since the summer, and we've been 1.10, a flatlining in the markets. you take those two things together and look that the buybacks are tracking lower compared to last year, so it is benchmark right now. we are no longer overweight japanese equities. unsurprising as we move into the open of markets in china and hong kong come 30 minute

china? >> there's discussion of that. it's been on the table for a long time, but the discussion is recurring. but china fears that. that's part of the problem. china fears that instability in north korea that could create problems for itself and it worries about that more than it worries about north korea's nuclear weapons. so it's at the crux of the matter. u.s. has to solve that problem for china. >> thank you, mr. chairman. >> the gentleman's time is expired. the chair recognizes the gentleman from ohio. >> i yield one minute to the chairman. >> thank you. very briefly, just to follow up on this hearing and the legislative proposal to impede north korea's access to finance that has been discuss ed here today. would the passage of this legislation that's being proposed or the mere introduction of a bill that directed treasury to impose these secondary sanctions, would that, in your judgment, give secretary tillerson and ambassador haley additional leverage in negotiations with china and r

and i think if you look at the china dream, the great national rejuvenation of china, this is to use american terms a blood and soil fascist dream. we have those here and it's the ultimate forcible if necessary absorption of taiwan. i don't think it's a dream that in any way is derived from advice he's getting from the pla in large measure because he's purged most of the people in the pla who could have opposed him. if people in the pla are imposing this on xi jinping how is it they're not getting purged too? this is an individual who i think is very comfortable wearing the reins of power. it feels that it's his mission to preserve the ccp and to expand its influence and feels like he has the political wherewithal to do so and to push forward and that it's what the ccp itself wants him to do or needs him to do if it's going to survive. it's a return to late 1980s neo-authoritarianism. it's very much a discussion that was in vogue almost 30 years ago and seems to be reaching its realization today. show less text >> i'll be super brief so wn get to the audience. i think primarily two t

>> it is not only china. i agree with you, we should go, we can go the conventional route with china. i don't think it is going to work. china doesn't really respond. frankly they string us along. this is the perfect situation for china. the problem that i worry about, you have got russia with that sliver of border with north korea. they have troops on their border. it is argued that china has troops on their border. something is a little bit different. i think china is a little bit worried about north korea. certainly russia is. i don't think the conventional route will work with china. trish: you're leading us down a path none of us want to see. we are looking for reaction. >> military options are few to none. trish: listen, if united states ever america decides we can take him out period, end of story, he is gone tomorrow. i'm just saying if you do that you run the risk of course of seoul and losing american life. >> they have conventional weapons on the border of seoul, they could wipe out seoul in a hear

a sweet spot for china and i think for the market participants in china, right? because you're looking at some companiesefactors of no longer having to rely on sop banks. would be governance improved. you get more international investors scrutiny. from these comments that robert lighthizer made overnight about how the threat almost that china poses with its financial operators is a financial market and becoming more intertwined with the global markets. do you think there is that systemic risk that is then being introduced to the rest of the world? ding: i would say china would still have -- going to take a very measured steps in its financial reform. they were opening up further to introduce more competition, but i would say maintaining financial stability or the financial security is still the utmost importance for the government. so take for example the cryptocurrency liberalization for example, they will move forward whenever the market is stable and the foreign-exchange rate expectations are stable and outflow is eased. this is the conditions to move ahead wi

china could do more because china had 97% of north korea's trade. however china is not willing to do some of the things that donald trump asked china to do. if you think about it, donald trump is trying to bully china and russia, and in some ways, south korea, into his own policy path. and china takes the view that sanctions will be ineffective. after all, china has had that kind of history, when china developed its own nuclear programme in the 1960s, china was isolated, mao was considered a madman and the chinese were willing to eat grass and have that nuclear programme. so china absolutely understands that sanctions would only harm ordinary people. and in some ways, because they are so indoctrinated by kim's views and the propaganda, they will sacrifice their own lives, so to speak, to have this nuclear programme. that takes precedence over everything, by definition. but china absolutely does not want a nuclear north korea, nor south korea, nuclearised. so china is in a difficult position, particularly now, china's influence over north korea deter

., china, russia, south korea. what are you seeing during the latest provocations that might be different from what it was before? >> if you look at the market, it is beginning to falter in south korea. nevertheless, i was just there two weeks ago, there isn't that much concern. life goes on and they continue to do business and we are continuing to invest in small and medium-sized enterprises. another thing with president tons ofening up with money going into the consumer market them a so that will be important going forward. shery: the chart 5771 on the bloomberg showing exactly that. the first quarter of net outflows from korean stocks and the korean won against the u.s. dollar starting to lose ground to although you'd -- lose ground. although you talk about optimism and what president moonlight the traderd, he said agreement is on the table. we're hearing from trump that he might to back out of it. is this time to reposition? >> of course. if trade with the u.s. is faltering for south korea, this is not good new