i am betty liu. we will be looking at how all of the action on wall street will play into the pacific trading day. we are waiting the results of the elections in italy. we have the national people's congress in china kicking off a lot of economic data to digest. including, at the end of the week, fridays nonfarm payroll reports. week --u can imagine a the week it will be for the markets. inuick check of the markets the u.s. on friday. you can see the mixed session as traders and investors are digesting the impact of the tariffs. the s&p closing 0.5% higher. the nasdaq gaining. you can see some traction, up 1%. confusion in the equity and the bond markets leading to a more volatile session in asia. have our markets already open. new zealand has been trading for just over a couple of hours. looking like this. currently higher by 0.1%. the kiwi dollar also showing strength against the greenback. more of the dollar weakness story there. futures in australia pointing to the upside after a tapered end to w

betty: i'm betty liu in new york. let's get to the first word news with jessica summers. >> thanks, betty. facebook is drawn scrutiny from the congressional committees over its mishandled data scandal. the federal trade commission is investigating whether facebook violated a 2011 decree over handling private information. at the same time, cambridge the ceoa has suspended saying the comments have been unacceptable. the uk's only offered a bare-bones deal after brexit. they can access the financial markets only as long as the british are seeing as credited. arlene foster spoke exclusively to bloomberg and they said they take a lax approach to brexit. >> i hope we can talk about the trade relationship and what it will be, as in terms of northern ireland, we want to work with our neighbor and the republic of ireland in a pragmatic way that is good for both of us. let's cut out the aggression and move on to doing what is right. and the finance minister said it could be weeks or months before new governments are formed. has

this is bloomberg. ♪ betty: this is "daybreak asia." i am betty liu in new york. yvonne: i am yvonne man in washington. turning up the heat on china, trump calling for tariffs and restrictions on china. let's get the tom mackenzie. he has the story from beijing. good to see you. president trump slapping tariffs on steel and aluminum, he did mention this is not the only stop, the next seeming to target intellectual property. tom: this is the stage where it becomes concerning for china, they don't need to be too concerned about the metals tariff. but in terms of broader tariffs on a broader range of sectors, yes, that is going to get china's attention. politico say they have three sources who told them trump was presented by robert lighthizer, representative, with a package of tariffs worth of 30 billion u.s. dollars a year on chinese imports. trump said the amount is not high enough. lighthizer has long been a china hawk, he will go out and come back with a higher package. the official announcement could be as early as next week. sectors including telecom equipment

this is bloomberg. ♪ betty: good morning. i am betty liu in new york. haidi: i am haidi lun in sydney. you are watching "daybreak australia." australia has a secret to avoiding recession may lie in mass immigration. the population has swelled over 50%. a rising chorus of populists are calling for a cut to new arrivals. across to our bloomberg government reporter, jason scott, with us in canberra. that it could have a problem with too many people, is there something behind it? who would have thought australia of course is a massive country? it's not a continent. it's 50% larger than europe. 25 million people seems pretty small by comparison. most of australia up on land is uninhabitable, not very good for large cities, and most people are concentrated in the southeast corner sydney and melbourne. those cities in particular have been having problems with soaring house prices, traffic, and congestion. mounting been a large, voices of concern about those particular problems. i guess the australian government's lack of action in seeming to address this, so i

betty: i am betty liu in new york. leavinggenerale leader over a legal matter that predates his appointment. the bank has not identified the issue, but said he resigned to preserve the company's general interest. socgen is under investigation in the u.s., for bribery in libya. yvonne: shares fell on worries of suppliers keeping up with the pace of production. spirit air facing hurdles in boeing's most737, popular planes. boeing wants to produce 57 of the jets by the end of next year. betty: in the next hour, samsoniteo that, chairman going over what it could mean for the travel industry. this is bloomberg. ♪ yvonne: we are live. yvonne:welcome to daybreak asia. thought -- stocks under pressure. opec saysis slide as reduction from independent rivals will be a big deal this year. it is just after 8:00 on this wednesday. justin trudeau confident that the nafta deal will succeed. he says it will be a win, win, win situation. larry kudlow is the white house choice to replace gary cohn. he is seen as a trump key player. â™

i am betty liu in new york. income rose highlighting a push in the technology to drive earnings. by chiefined strategist james garner and also bringing in insurance analyst stephen lamb. thanks her joining us. we have been talking about how the business has done well but the real issue has been sent tech and the company talk about getting the part -- tech potential that the company is being undervalued. how are you assessing the situation? last two, -- the

betty: i am betty liu in hong kong -- in new york. chiefkudla is a investment strategist at mainstay. and joining us also is kathleen hays, who has been watching the reaction to the fed. david, i know you were on your way here. i don't know how much you got to see of the powell press conference. but what did you make of what he said today? david k: the statement referring what we know,ed we have a strong economy. if you look at the fed rate outlook for this year, next year, whether we get three or four hikes is this year, we know what the path was higher. betty: was it clear to you? one found at the comments from powell quite unusual, were his words. you have the expectation of three rate hikes, but the and 2020 seemed not to coordinate with the forecasts being put out. david k.: we are seeing more dovish outlook this year, even more hawkish in 2019, 2020. was aas interesting too statement that stocks and real estate prices in some areas may be stretched. it goes back to when a fed official talks about stocks, they rarely say they are

betty: i am betty liu in new york. it is after 7:00 p.m. this tuesday. restricting investment in industries like technology. has led beijing -- we will discuss the geopolitical implications. ♪ yvonne: more bad news to add on to risk aversion. breaking gdp numbers from south korea. the fourth quarter final numbers missing -- missing estimates. we are at 2.8% to wrap up 2017. we talked about how investment has slowed, a slump in the auto sector weighed on exports. perhaps this is more weakness than we perceived earlier. it is interesting, we're adding on to more bad news. yesterday we talked about how everything is a buy. these price swings could go either way. betty: even talk of tariffs has an impact on stock prices of companies. and exports, going forward. fourth-quarter gdp numbers adding on to the concerns not only in south korea, but elsewhere. watchinghe u.s., geopolitical tensions and trade tensions that continue to affect markets. let's pull up the boards on how we ended the day's trade. red, the popular color. the s&p and dow, down almost 2%. t

betty: i'm betty liu in new york. indi: and i'm highly little you are watching "bloomberg daybreak: australia." mark zuckerberg is said to have agreed to testify on capitol hill. the time and date is under discussion. he already said he answered -- would answer questions if he is the right person in the company. congress said yes and he is expected to testify before them. sarah covers the and joins us now. sarah, it is pretty risky putting him in front of a panel at thisestioning sarah: point, facebook did not have much choice. this is a scandal hitting at the core of what users fear about their data, their privacy. we have not seen facebook stock get hit on the russia and manipulation, on racist ad targeting, all of those things have blown over in terms of how people perceive the company. this is really hitting home, though. this is the point at which have blown over in terms of how people perceive thecongress wand about facebook, which is, are they good stewards of the user's data. and what happens with all that dat

betty: i am betty liu, in new york. the finance minister failing to block president trump's tariffs. they also blocked their resistance to protectionism. yvonne: it is all go on amazon, their market caps surpassed google's parents, alphabet, for the first time. ♪ betty: as amazon shares continue to rise, we see facebook shares continue to fall for a second day in a row. that led other tech stocks down. i want to pull up a chart, g #btv 3295. that despite the drops we have seen in technology shares, the nasdaq 500, the 60 day moving average seems to be a support level. a buyinghere is still opportunity even amid some of this turmoil caused by facebook. yvonne: we talk about how these are stock-specific moves we have seen. divergent today from facebook, the rest of tech doing much better today. to find to dig deeper winners and losers in all of this when it comes to you westech overall. betty: looks like most stocks managed that rebound. ending adding on points, up almost 0.2% higher. the dow rebounding 117 points. nasd

betty: i am betty liu in new york. it is 7:00 p.m. wednesday. the wto says they see the first signs of a trade war that could derail the global economy. , amazonief for facebook is the new punching bag among the fang stocks. ♪ betty: another way to end the week, with a whimper, at least in the u.s. we have one more trading day, but it is not setting up for any bright spots in the asian market. let's pull up what happened in the u.s. markets. we did see choppy trade, directionless except for tech shares, the s&p lower 0.3%. the dow, flat. the nasdaq down about 1%. named are a tech titan zuckerberg ormark elon musk, you're not having a good we get all. -- a good week at all. 2/3 of the markets open. we are expecting robert lighthizer to lift out these tariffs on chinese goods from now until april. a lot to focus on the next 48 hours or so. betty: a lot indeed. let's turn to what happened at the u.s. market closed today. nasdaq on pace for its worst monthly loss since january 2016. now set-heavy nasdaq for a 6% loss in

betty: and i am betty liu. more news on facebook. it looks at the facebook security chief, alex stay most, leaving thee'll be company over internal disagreements as to how they are handling accusations of mishandling information. shares byy hit the cambridge analytic, the voting profile company of part of president trump's campaign, getting a handle out over 50 million facebook accounts. it is just a continued problem here at facebook with the security chief leaving. it has dogged the company and the stock price as well. facebook getting hit hard. haidi: when one of these stocks start selling, you should see it on all of the stocks, which is what we saw overnight. it is just another headache for facebook may have been trying to get on top of for the rise of fake news and these allegations of russian and errands in the election, and now, this alleged harvesting of users data without their knowledge for political purposes. we are waiting to hear from zuckerberg caps off, but not a great deal for facebook continuing on after the market.

betty: and i am betty liu and you are watching "daybreak australia". stocks are searching back on monday from the biggest weekly route in two years, although there is waste to go to make up for all the losses we have seen so far. joining us now from minneapolis is the senior falla manager at columbia threadneedle, can you make sense of these wild swings? -did one day and 600 in another? you look athether the equity or bond market where i am focused, i think a lot of market performers this year has been about expectations and one of your previous contributors pointed to the expectations of earnings in the s&p rice 21% this year. we know taxes are a nice tell went, but expectations are high and yet they such a confidence in expectations like on a trade side, as we have been dealing with the last week, that can create volatility and that is what we are seeing with expectations. come: we keep hearing that at get used to volatility, but why are you focused on the bond market? where wewe think about pricing has been in financials, it has been on the bond mar

betty: i am betty liu in new york. it is just after 7:00 p.m. thursday evening. good news for broadcom. after a bruising week in washington, earnings are in line with estimates. -- hethe end of the line has led the pboc for 15 years. ♪ in another three years at looks like we are going to be here in a recession in the u.s., if you look at key market indicators. i want to pull up a chart showing you some of the market indicators, as calculated by bloomberg, looking at credit spreads and the yield curve. it shows there is now a 100% probability of a recession in the next three years. data,an looking at their saying that probability is 72%. it begs the question, may be on the one hand it is right for the and onbe raising rates, the other hand, are they raising rates going into a slowdown in the economy? at least if they have rates a little higher, that gives us is true thet economy slows down to a recession. yvonne: it is interesting, that jpmorgan call, twilight of the cycle they call it. think of cycling out of equitie

betty: and i am betty liu and new york. is planning a periodic action service which will allow companies to trade stocks which have been suspended from dark , offering traders a legitimate way to hide orders until there is enough interest to trigger a buy or sell. yvonne: bitcoin has long been declared to the.com bubble. morgan stanley says that the performance is like the tech boom and bust on steroids. it says it mostly mirrors that movement of the nasdaq in the lead up to 2000. prices of bitcoin have fallen 50% each time they have dropped, before rebounding. betty: united technologies ceo sending his retirement but not until he has competed the merger with another company. he says that he discussed his exit with the board, a process that is expected to take up o to three years. staying in tech, uber has suspended tests of its self-driving car after the first pedestrian death was caused by one of its autonomous vehicles. bloomberg's eric newcomer has the details. eric: a49-year-old woman was hit by a self-driving uber in

betty: i am betty liu in new york. the communist party gathers for its annual parliamentary session starting next week. our china correspondent tom mackenzie joining us from beijing. how does this impact china, tom? tom: speaking to an analyst yesterday who has close ties to the u.s. embassy and u.s. there was a sense of the pressure from trump and his administration is being felt very much here in china. the fact he is acting on that campaign rhetoric now, whether it is the tariffs on solar panels or washing machines, stee travel they it is are concerned about when it comes to the u.s.-china trade relationship. defendinglighted by the economic adviser to washington to try to dial back these tensions. what i have also been told is, a key concern is less about steel and aluminum, and more about technology transfers. --re is the ip investigation ip violation investigation in washington now. there is foreign innovation, foreign capital to help china tackle major issues. whether that is moving up the food chain when it com

. ♪ betty: good morning, i am betty liu in new york. anheuser-busch says they are on tap the announced the 2025 sustainability goals. bloomberg tv executive editor spoke excessively with the ab inbev ceo, asking about his plans to utilize renewable energy and global growth in mexico. amazing,exico has been we have been there for four years and we have had high single digits growth. and today we cap mexico -- not only do domestic markets do well but the export side of the market is also doing well. >> people love mexican beer. [laughter] carlos: i think mexico has a lot of things that appeals to people. mexican music connected to exotic locations. the beach scene, vacation, there is good escapism and peace of mind. next and beers connect and consumers think of a budget for those beers to carry the position in their minds. >> you talk about the strength of wiser globally. has been tougher closer to home? what you need to do and it u.s. to boost those brands? carlos: budweiser is doing amazing around the world and is what the important thi

in newi am betty liu york. great to see another addition to our daybreak family there with the daybreak middle east launching. i know you got daybreak -- breaking news on japan. david: speaking of following the sun, trade numbers out of japan. looking at exports up 1.8%, imports 1.8%. not very much variance. 201 billion was the adjustment trade deficit. looking at a trade surplus unadjusted of 34 billion yen. to give you a sense of how it looks longer, if you look at the bigger picture, you are looking at the change in exports year on year. there have been a noticeable sort of slowing down in export growth in japan. very quickly i will give you a sense of how that looks. there is related figure, 1.8%, also a fairly high base from last year. does it continue and does the math continue to on flatter? betty: and the political uncertainty or turmoil we have seen the last week in japan is also adding to the pain on the export side with the strength of the yen. let's turn to russia. the russian election turned out to

betty: i am betty liu in new york where it is 6:30 p.m. let's get the first word news with ramy inocencio. ramy: the wall street journal is reporting china will name a new successor at the pboc. he joined in 1997 and for the past decade has served as deputy or the national people's congress is certain to approve him. president trump has launched his most direct attack so far on the justice department investigation into alleged russian meddling in the 2016 election. he used mueller's name for the first time and said this probe should never have been started, and uses capital letters to call the investigation a witchhunt. the president attacked former fbi director john mccain who was fired on friday. the south korean foreign -- the unitedthey states surprised north korea by agreeing to a talk. they believe the north korean leader is considering his position before responding publicly. congress says seoul and washington have made it clear nothing is being offered in return for the talks. asean summit has agreed to get north korea to those --

betty: i am betty liu in new york. check the business last headlines, imd said oil could fly back below $60, with surging u.s. shares to asia's undermining the opec cuts. american crude gained a greater slice of the asian market last year, and that could prompt producers to raise output. img said the crude rates could go down again, forecasting at $57 in the second half of this year. acquireon is set to from its local rival, changing the game when it comes to german energy. the complex $27 billion deal would see a on merge with the , rwe wouldle both end up with a larger stake in e.on. they are the largest with 10 billion euros in wind and solar storage. betty: consortium of jet airways, delta is set to be understood in india. the modi government wants to break up the carrier into four separate companies and selloff 51% in each of them. air india has $8 billion of debt , five subsidiary companies and a combined workforce of 27,000 people. that is just about it for daybreak australia, but yvonne and betty are back. what

i am betty liu in the art. u.s. investors for president trump's expected official sign off this week on global tariffs on both still and aluminum. many u.s. corporations have said that this will probably be passed on to consumers. ramy inocencio at the wall taking a look at the likely losers here in a global trade war. >> looking at what we have identified here on bloomberg news, these are the top five sectors that will be negatively impacted by these tariffs on steel and aluminum if that happens as expected later this week. at least for autos, based on the terrace this good at about $200 to the final price of a car, canned goods, the beer industry really coming out in force here. hurt the 2y it could million employees in this industry, also, another company is saying that there isn't enough aluminum other in the united states so they wanted to bring that in from overseas. technology here, he muster saying that if this impacts apples finished close out of china we could see on the order of a couple bucks for these h

betty: and i am betty liu here in hong kong. a combined net income for $150 billion in 2017, a 50% jump for the big lenders. ramy inocencio year with the bloomberg terminal chart. ramy: looking pretty rosy as we look into the earnings week. taking a look at the figure you just mentioned, a 2.9% growth year on year. it looks even better when we look at 2018, estimates were a .1%. this is because of china's faster than expected growth, nonperforming loans that are falling and rising interest rates. let us go to my first bloomberg terminal chart, g #btv 5099. we are seeing in white, the agricultural bank of china already out. tencent up earlier from about nine cents a year -- nine cents year on year. citic, upe are seeing 16% year on year. looking ahead, china construction bank and pink as well as in yellow, industrial commercial banks, icbc, with our expected to see rises. #btv 7405,rt, g creeping up. --agbank up,.5% ever since 2014, for the big rise. we expect this to happen come as more of those banks continue reports later this

. ♪ betty: i am betty liu in new york. haidi: them heavy look in sydney and you're watching "daybreak australia". a quick check of business headlines. financials has relied on money from obscure part of the market and seems to be drying up and has sold assets back to securities tied to consumer lending. down 74% in the previous three months and tech giants a wrapping up consumer lending to meet surging demands. betty: insurance is planning an ipo of its management unit that can raise as much as $3 billion. where told the insurer has picked goldman sachs and jpmorgan another banks for a potential listing in hong kong by september. millionght raised $60 in a 2007 annual report. haidi: the former chairman of insurance has gone to trial of masterminding a $10 million fraud and ordered financial statements to pop up capital. court documents allege wrongdoing dating back as far as 2007 and he is the first executive to be publicly filed on corporate the risks. let's get a look at markets as we had into the trading day. easterzeal

betty: i am betty liu and you are watching "daybreak australia". the risk of a trade war with china has one and one thing investors are worried about is packed, and those worries are overdone. gbh chief now is why shoulden investors not be worried? what sticks out his apple and when we plug numbers we think that macs incremental cost to the bottom line is a rounding error. services oriented not be affected of the china terror issue, i think the only one would be amazon -- which is only whichincremental costs they can absorb. it is scary headlines but when you dig into numbers, the bark is worse than the bite. you continue to buy tech on this weakness of scary headlines. i think it will be a blip on the radar. betty: why do think some are selling on this news and why do you think it is heading there? dan: it is the retaliation and fear. when you go down there, can take be impacted? what can china do specifically with apple? at foxconn and the interwoven relationship there, they invested billions in china. tim cook has been a great job with the chine

this is bloomberg. ♪ ♪ betty: this is "daybreak asia." i am betty liu in new york. yvonne: and i am yvonne man. we have gone quickly from a on it to risk off, given we are digesting the news of gary cohn's resignation. moderatorn as the when it comes to america first policies. 225re seeing the nikkei leading most of the losses, 0.6%. and big exporters taking it hard today, down 0.7%. the dollar-yen getting a bid at 105.63. seems like we are having a harder line stance on trade. we are also looking at futures. s&p futures down 1.3%. the dow almost down 400 points. the nasdaq also losing ground. pretty much risk off trading right now. as asian markets are opening lower with the news of gary cohn's resignation from china, there are fresh trade threats against china, and north korea's apparent willingness to give up nuclear weapons at the safety of kim jong-un's regime is guaranteed, if you can believe that latter part. johane with us cio jooste. your reaction to cohn's departure? how risk off is this going to be, the reaction to cohn's departure? johan: i think the mar

this is bloomberg. ♪ betty: this is "daybreak asia." i am betty liu in new york. yvonne: i am yvonne man in hong kong. anticipated briefings on trade and possibly on permitting casinos on the island. it cut its budget deficit for the first time since 20 tell than such a growth target of around 6.5% this year. that's gets a tom mackenzie, joining us from beijing right now. plenty on cap here for a day two as well. tom: absolutely. the focus really yesterday was getting these targets and tying together a picture that seems to suggest tighter monetary and financial conditions with the gdp target and deficit target being reduced to 2.6% from 3% last year with the money supply being kept on hold. and of course, a big focus still on the deleveraging campaign. monetary policy remains neutral and prudent. we are looking ahead to what we are hoping to hear from the big state planning session. more details from the delegates about whether they plan to allow casinos to operate on theirmore details from islana challenge that might pose to the casinos in macau. yvonne: it cert

betty: i'm betty liu in new york. mark zuckerberg is being summoned to capitol hill, having failed to satisfy that critics in the data scandal. he says he will take steps to make sure it does not happen again. >> this was a major breach of trust. and i am really sorry this happened. we have a visit responsibility to protect people's data and if we cannot do that then we do not deserve to have the opportunity to serve people. betty: was that going to be enough? i want to bring in our digital content net ceo jason kim. did you watch the interview? >> i did. yvonne: was it enough? >> he said he was sorry, but the on that we are far from seeing the end of this. betty: when you say that, what do you mean? >> he has opened himself up to regulation and i think he would dream it would just be political ad regulation club but there is much larger regulation he is walking into. betty: we have heard this before, do they need to be regulated, but let's get more granular, what regulation could hit the bottom line? >> the data. his

yvonne and i am betty liu, and jay powell mac event and says there is no signs of overheating in the u.s. and truck sales

i am betty liu in new york. yvonne: i am yvonne man. you are watching daybreak asia. let's get to first word news. you and good morning. president trump is expected to take his most aggressive action yet against russia later monday with the likely expulsion of diplomats, following the nerve gas attack on a former spy in the u.k. that will probably bring similar action from moscow but aligns the u.s. with european allies. several countries are expected to announce their own expulsions of russian diplomats in tandem with the united states. steve mnuchin says he is optimistic of a deal with china that would force all the impositions of tariffs order by president trump. he said that sides are engaged in public -- productive conversations and is hopeful of agreement. the president did announce measures worth at least $50 billion or that is punishment for alleged intellectual property theft. and seoul in seoul -- average in an agreement on their six-year trade deal here that is according to steve mnuchin. he said the countries have an understanding on reducing imports of ko

liu, he put the debate into perspective. >> there's no doubt that there is a serious imbalance between the u.s. and china in terms of market access and tariff levels and nontariff barriers. the part of this happens in the natural course of things. when you are a less-developed country, you have higher tariff laws. we did that in the united states in the 19th century, and it helped build the united states behind the protection of those restrictions. , withsue now is that china having such a large economy, even though per capita it is not as big as one would think, the but in terms of aggregate size it is the second biggest in the world and it is growing at double the rate of any developed economy. it's sort of time to make that change, to make that transition. i think that the senior people in china will understand that, because it's in their interest as well as other countries. if you don't normalize this, then populism develops in the developed world and people in those populations demand some kind of action. >> and it goes all the way back to the other side. >> and everybody is a los

and from global headquarters, i'm betty liu, it is just after 7 p.m. on this thursday. the u.s. ambassador calls on the white house, saying china is not afraid and will defend itself. the news reverberating through the market, sending stocks down the most in six weeks, the

betty: from bloomberg's global headquarters i am betty liu in new york. blackstone says that u.s.-china trade imbalances must be equalized. we have our interview with ceo of

in newi am betty liu york. you are watching daybreak australia. let's get to first word news. thank you. the u.s. treasury secretary is optimistic about a deal with china that would stop the imposition of the trade tariffs. stephen mnuchin told foxnews the two sides are engaged and productive conversation. he is hopeful of agreement. you will remember trump announced measures that would lead to $50 billion, punishment for alleged intellectual property theft area trump is expected to take his most aggressive action against russia later monday with the likely expulsion of diplomats after the nerve gas attack on a former spy in the united kingdom. that would mean retaliation from moscow, but does line the u.s. with its allies. several countries are expected to it announced their own expulsion of russian diplomat's in tandem with the u.s. u.k. brexit secretary david davis said the two sides are edging closer to a deal that would prevent a hard order. he told the bbc the implications are good but the client to go into detail. this is the fault months now down to the split -- this i

betty: i am betty liu in new york where it is just after eight p.m. on this monday. the race to beat goldman sachs, kno no news yet on when lloyd blankfein might resign. china says, a trade war is no good for the world. ♪ yvonne: betty, we have been hearing president trump talking tough on trade. that certainly enhances all of this. the big question we have been talking about today is what is going to come out if the super regulator of the pboc, as they merge underneath the central bank. betty: that's right, that is a news but not entirely unexpected. we knew that the government was looking to give the more and more power as it tries to tackle this debt problem -- the pboc more power. looking more and more like the central banker in many ways, to the world -- at least to the region. all of this coming at a time when we are looking at the new man going to take power. a lot of stuff going on in china. yvonne: yes, much more powerful pboc then 15 years ago when he took over. . we are looking at the markets right now with sophie. cameical risk in japan through as well,

anna: that was the blackstone group ceo steve schwarzman speaking to betty liu. still with us, chris willey. china and theut latest trade policy. larry kudlow talked about how the chinese did not play by rules, mike pompeo stepping up and he talked about pushing back against the china threat. does this look from that perspective for china or are they withstanding all of that? no doubt thats things are hotting up. anyone who has done business in this has been over decades. barriers,significant hard and soft barriers erected. it has not been a two way street. we're moving into this phase up.e it is hotting policy see some response. we will see some give with china. where it will get interesting is how much compromise will be enough compromise in the eyes of the u.s. administration because of you want to take this to its extreme it could get pretty aggressive. i am not sure that is where they want to take it. this is more about signaling. i cannot say i am terribly optimistic. we will see a major shift in the playing field perhaps to the degree that was just alluded

he spoke to bloomberg's betty liu. >> this is just a recognition by the international investment reforms the saudi stock exchange has taken in the past 18 months. to address the requirements of opening up the saudi stock exchange to pursue a more attractive platform for international investors. there you confident that msci will deliver a similar outcome in june? it seems like the momentum is behind you now. what are you doing to make that a reality? with ftrk very closely se and msci as well as international investors to achieve the requirements. there very optimistic about positive reaction of the international investors. we have been very closely in andact with msci international investors to address any gaps that saudi market has had in the past and we believe we are in a very strong state as we speak today. we are hoping for another milestone to achieve next june. manus: that was the ceo of the saudi stock exchange. ,till with us is my co-anchor he's on the ground in riyadh. good to see you this morning. the flavor in terms of the decision, have you seen this before? do you think it

which, you know, ooinl noti'm -- you know, i am betty liu fan of hate speech. i think it's a horrible thing. but the problem is, is that it's very hard for anyone to define what is hate speech and what isn't, and what is offensivive, -- what is offensive and what isn't. while i'm no fan of hate speech, i worry about the government, or your school administration, or anyone being the ones to draw that line. because it's really easy for that line to -- when somebody else is basically deciding, okay, this is -- we're not going to allow anything that's offensive. it's really easy for that to encompass more and more things. that's why, even though i think it is very troubling that we have such hateful dialogue, and that there are so many active hate groups right now, but the problem with trying to ban them is that you end up banning a lot of other things as well. because, you know there are campuses that have put in codes saying we're not going to have any hateful groups and then that same thing was used to shut down a pro-palestinian group, shut down a chapter of bl

president trump once -- betty liu. president trump wants terrorist. -- tariffs. polls in to the pennsylvania. everything suggests it is going to be a close race. yvonne: we have been talking about these trade tensions. more friction with reports president trump might be slapping tariffs on china. we have reviewed numbers and catalytic what that could be. take a look at this. i guess this is a worst-case scenario. costss. has raised import by 10%. we are looking at a trade war that could cost for $70 billion -- $470 billion to read that could cost half a percentage of growth. to the equivalent economy of thailand. these are one step closer to something that could trigger a scenario like that. continuing to cooperate when it comes to north korea. you have to connect the dots. to put thena pressure on. that is a start chart. rex tillerson is out, mike pompeo is in. let's look at how we are faring in the market open. >> we are seeing out to the start of trade. stocks sliding. the index is down. a slight pickup in the yen. check out s&p futures. kicking off their sess

he spoke to bloomberg's betty liu and yvonne man. recognition by a the international investment community for the reforms that the saudi stock exchange has toen in the past 18 months address the requirements of opening up the saudi stock exchange and pursue a more attractiveness platform for international investors. >> are you confident that the msci will deliver a similar outcome in june? it seems like the momentum is behind you. what are you doing to make that a reality? >> as we did with ftse, we worked closely with ftse and msci as well as international investors, to achieve the requirements. about they optimistic positive reaction of the international investors. we have been very closely in contact with msci and international investors to doubts the saudi market has had in the past. we believe we are in a good and strong state as we speak today, and we are hoping for another milestone to achieve next june. >> many investors before this decision were having qualms about the saudi market and stocks after the crackdown on corruptio