there in hong kong. in britain prime minister theresa may is under mounting pressure over breakfast with opposition from her own conservative members of parliament intensify may has urged her critics to put their differences aside saying the future of the nation is at stake she is making the case for a brac set and her withdrawal deal to a conference of business leaders she told them that britain would regain controls on immigration and like life there in once we've left the e.u. we will be fully in control of who comes here it will no longer be the case that a new nationals regardless of the skills or experience they have to offer can jump the queue ahead of engineers from sydney or software developers from delhi instead of a system based on where a person is from we will have one that is built around the talents and skills a person has to offer. and in brussels the use chief negotiator michel barnier spent the morning getting approval for the deal from ministers of the twenty seven member states he had

there in hong kong. now for some of the other stories making the news today we have this news just in germany is to impose travel bans on eighteen saudi arabian citizens suspected of being involved in the killing of journalist jamal khashoggi foreign minister said on twitter that germany still had quote more questions than answers about the cakes. residents of communities ravaged by the wildfires in northern california have gathered to remember the victims in the devastated town of paradise the vigil comes as the death toll from the wildfires rises to seventy seven. yemen's who the rebels say they will hold to drone and missile attacks on the saudi led military coalition that is if the saudis and their allies also agree to a ceasefire tens of thousands of yemenis have died from violence disease and starvation since the fighting first broke out in twenty fifteen. everything and unmanned russian cargo vessel has successfully docked with the international space station carrying much needed fuel oxygen and w

that the space for civil society to raise sensitive questions about hong kong's future in hong kong is is shrinking the public prosecutor's office refused to speak to doit chevelle about chance upcoming trial. john himself is pessimistic. more protest events have been canceled and a foreign journalist has also been expelled i don't see any of our lives in the near future that we could get democracy this is a time to be a friend i'll sell to defend our existing freedom and our rights and we need to strengthen our civil society. john kinman expects to be convicted but for now he runs while he's still free. let's bring in correspondent mathias banana he is following the story for us in hong kong hi mathias so as we heard protest leaders are facing seven years in jail for inciting a public nuisance what is this charge all about. well it is obviously a very. very substantial charge seven years in jail for it's a law that has been. taken but taken by the colonial government at the time it has rarely been used professor chant whom we just saw told me that he expected to be charged but he expe

that the space for civil society to raise sensitive questions about hong kong's future in hong kong is is. shrinking. the public prosecutor's office refused to speak to doj chevelle about chance upcoming trial. john himself is pessimistic more protest events have been canceled and a foreign journalist has also been expelled i don't see any of these in the near future that would could get democracy this is the time to be fair and also to defend our existing freedom and rights and we need to strengthen our civil society . john kinman expects to be convicted but for now he runs while he's still free. but just for how long we have joshua along with us now he's the secretary general of the democratic opposition party joshua was one of the leaders of the so-called umbrella revolution back in twenty fourteen of very warm welcome joshua thanks for joining us you were jailed last year for your role in the occupy central a movement nine other people are currently facing charges of causing a public nuisance but the case is about more than that. yes we just are aware on how they just create a shor

that the space for civil society to raise sensitive questions about hong kong's future in hong kong is is. shrinking the public prosecutor's office refused to speak to doit chevelle about chance upcoming trial. john himself is pessimistic. more protest events have been canceled and a foreign journalist has also been expelled i don't see any of this in the near future that we could get democracy this is the time to be friends i'll sell to defend our existing freedom and our rights and we need to strengthen our civil society. john king minix specs to be convicted but for now he runs while he's still free. let's go right to hong kong where our correspondent mathias building is standing by for us him at yes good to see you so as we had the protest leaders are facing seven years in jail for inciting public nuisance tell us what this charge is all about well it is the law that is applied here is the law from the kolo new era that was designed to crush dissent and now new hong kong's new power is using this law it is quite unprecedented and the construction of the prosecution is using here is

david is here in hong kong. picture 24fferent hours ago when you were talking to us about the situation. now this brexit turmoil has been called the uk's biggest challenge since the post-imperial era. why has it been so difficult? turmoil inignations, the market. britain remains divided about this issue and the relationship it wants to have with europe. we saw that in the referendum. that has not changed. the biggest problem is theresa may is leading a minority government. she threw away the majority and is held hostage by the ulster unionists. therefore, it has been impossible to push through any version of this in parliament. thatuestion is so fraught there is not a version you can see getting through parliament. rishaad: she is caught between a rock and a hard place. she said she will never have another referendum. three?do, best out of who knows. there is a chance britain crashes out. what are the bookies saying about that? >> the chance of no deal go higher. if you can't get this through parliament, it is n

that the space for civil society to raise sensitive questions about hong kong's future in hong kong is is to treat. the public prosecutor's office refused to speak to doit chevelle about chance upcoming trial john himself is pessimistic more protest events have been canceled and a foreign journalist has also been expelled i don't see any of this in the near future that we could get democracy this is the time to be friends i'll sell to defend our existing freedom and our rights and we need to strengthen our civil society. john kinman expects to be convicted but for now he runs while he's still free. well earlier i spoke to joshua he is an opposition politician and was also jailed for his part in the two thousand and fourteen umbrella revolution and he told a good of you news that he doesn't think beijing is allowing freedom of speech in hong kong i believe if china really on or on the one country two systems because this is principle already erodes and to be one country one and a half system and when we recognize the system of paul and of course it isn't all my home tongue is come from

that the space for civil society to raise sensitive questions about hong kong's future in hong kong is is. shrinking the public prosecutor's office refused to speak to doit chevelle about chance upcoming trial. john himself is pessimistic. more protest events have been canceled and a foreign journalist has also been expelled i don't see any future at least in the near future that we could get democracy this is time to defend ourselves to defend our existing freedom and our rights and we need to strengthen our civil society. john kidman expects to be convicted but for now he runs while he's still free. a lot at stake in hong kong for more let's go there now we're joined by tom grundy he's editor in chief and co-founder of the hong kong free press tom thanks so much for being with us this morning the official charge that the activists leaders are facing is inciting a public nuisance but this is really about much more. of a conspiracy to cause public nuisance infighting of both the call of the movement and perhaps most unusually in fighting people to incite others to hold public nuisance

there in hong kong. now for a look at some of the other stories making the news today eighteen saudi arabian citizens are to be banned from entering europe shang in zone because of their suspected involvement in the killing of journalist jamal to shock she the german foreign minister heiko ma said berlin issued the ban after consultation with france and britain saying there were still more questions than answers about the case. yemen's hooty rebels say they will hold drone and missile attacks on the saudi led military coalition if the saudis and their allies also agree to a ceasefire tens of thousands of yemenis have died violence disease and starvation since fighting broke out in two thousand and fifteen. and unmanned russian cargo vessel has successfully docked with the international space station carrying much needed fuel water and oxygen this is the first delivery to the i assess since the aborted launch of a manned flight last month another mission carrying a crew of three is planned for early next

point that raised a red flag for me and i became concerned the hong kong police had it. put it to them that the story about the sri lankan police coming to hong kong was fabricated and that i had fabricated the story and i asked my clients and also the sri lankan the witnesses to the snowden refugees that they asked them to make it up the hong kong police had actually asked the that had asked the witnesses to this for the police if they would testify against me in a criminal court. and you know without evidence and i realized my instincts were right and it wasn't safe anymore then i found out they continued to arrest some of my clients and former clients and trying to make a case against me. and at that time because we had closed down our house and we had vacated it in hong kong i found out there were seven police officers at my former home and they were actively searching for me. the so called the yellow vest movement in france has vowed to hold further rallies nationwide against rising fuel taxes president emanuel metron is refusing to back down despite two weeks of ma

not safe in hong kong and. can't go back to the home countries. now is only a bit off the beaten track firms of the fantasy classic lord of the rings' know that the beast like orcs are a force to be reckoned with but one side author no believes in fact the way they've been depicted it looks racist and that he says has dire consequences for the whole of the rest of us in society. that's right beat back on. hard not so. hated notion and. so races are. creatures that were sort of i eased out of the or sorry my audience had not a great deal of choice in the matter of what. are we not allowed to root against treacherous fictional cannibals anymore welcome to twenty one title. clearly the races of men elves and tulips should have welcomed the immigrants in this and allowed them to feast on the mound freshly designed how terribly racist of it is just a good triumphs over evil story not meant to be that deep. well that you think about that story was still trying to work it out myself. after weeks of violent demonstrati

trying to come into hong kong and take away jobs and. financial prosperity of our culture which is all nonsense and speculation my clients need to leave hong kong they need to leave to a safe country because they're not safe in hong kong and they can't go back to their home countries now is this p.c. gone wrong all reason to be concerned well you can make your mind about i'm sure fans of the fantasy classic lord of the rings' know that the beast like dogs are a force to be reckoned with if you've read it seen it but one author now believes the way they depicted in the books is racist and that dire consequences for society will ensue for all of us because of it. the flight back on board. it's hard not. to know shannon told. creatures that were sort of worries that the earth was sort of my audience. and not a great deal of choice in the matter what. are we not allowed to root against treacherous fictional cannibals anymore welcome to twenty one time. clearly the races of men elves and should have welcomed the immigrants in zero six and all

individuals and this doesn't fit in with the narrative of the hong kong government. the government has portrayed the son of seekers as you know being undesirable criminals etc. trying to come into hong kong and take away jobs and you know financial prosperity of all called which is all nonsense and speculation my clients need to leave hong kong they need to leave to a safe country because they're not safe in hong kong and they can't go back to their home countries. so far this friday evening we'll keep track of all the latest coming out of what is or is the g. twenty summit under way down there in south america of course more news there coming out as always what r.t. dot com for now though for me kevin i will forgive a watch and enjoy the rest of the great to a friday evening ahead of me. in fact a recent poll a gallup poll showed fifty seven percent of americans want a more cooperative relationship with russia so there is a disconnect that is smart politician democrat would understand the needs to be seen because there's not a lot of hunger appetite for this kind of

for china on a part of hong kong's identity is fading. hong kong deception to see. things . come close a day maybe. times it may not be. hong kong is a changing city beijing's influence is evident many hong kong knees fear a loss of political and cultural independence once a trend setter for pop culture on the entire continent hong kong is losing its crown the chinese mainland is taking a more important role nowadays. is one of the few remaining master craftsmen of neon signage he's been doing it since he was eighteen years old. clients present their ideas on paper and then he brings them to life. line by line the glass characters for. more complicated signs can mean several days of work. into. twenty years ago i worked full time on neon signs every day since but today it's maybe just four or five days per month. c.e.o. of the super karen. card in china wants to talk him and the work of me on makers the she's planning with the help of luci khan to hold workshops where interested people can learn how to make me on. the old like to actually keep the crops of life. so they woul

trying to come into hong kong and take away jobs and. financial prosperity called which is all nonsense and speculation my clients need to leave hong kong they need to leave to a safe country because they're not safe in hong kong and they can't go back to their home countries. this is a bit different. fans of the fantasy classic lord of the rings' know that those beasts like all costs are a force to be reckoned with they just but one side if i also believe the way they are depicted in the books is racist and the quote dire consequences for society are going to happen because of it end quote. the flight back on. it's hard not. to do. so. and not a great choice in what they. allowed to root against treacherous fictional anymore welcome to twenty feet in one time. clearly the races of men fell into a sheet of welcoming immigrants in the mountains of feasting on the mound fresh meat. how terribly racist. it is just a good triumphs over evil story not meant to be that deep. so going to which claims the president tried. several times and wiki

hong kong they need to leave to a safe country because they're not safe in hong kong and they can't go back to their home countries. a bit different to break up the news fans of the fantasy classic lord of the rings knows that the beast orcs are a force to be reckoned with or the best but one author now believes the way they're depicted in the books is racist and that has die of consequence his fellow the rest of us. that's right beat back on that. it's hard not. to know surely and. so. creatures that were sort of i eased out of the air or sorry my audience and not a great choice in the matter was what. are we not allowed to root against treacherous fictional cannibals anymore welcome to twenty one title. clearly the races of men elves and should have welcomed the immigrants in and allowed them to feast on the man freshly designed how terribly racist of it is just a good triumphs over evil story not meant to be that deep. claims the president trumps from a campaign chairman met several times with wiki leaks founder julian assange to take the new twist meantime a former cia officer i

kong versus four opposition politics in hong kong versus foui’ yea rs opposition politics in hong kong versus four years ago? you have got a number of political parties which don't happen on the mainland, including the pro—democracy parties, which range from parties which want one vote for people, and parties which want independence. when you look at what's happening in hong kong and the fact that people are being rejected and barred from office, one commentator told me that it's like hong kong is the casino and the house always wins. even if you succeed, you will get banned from the table. thank you, laura. much more background on that online if you'd like it. michaeljohnson was a superstar athlete back in the late 1990s, the fastest man in the world over 200 and 400 metres. but, after suffering a mini—stroke in september, he feared he might never walk again. now, he says he's almost back to normal, and credits his "olympic mindset" for his recovery. he's given this exclusive interview to the bbc. i sat on the mri table for 20 minutes. and, after i got off the table, from the mri,

helpers in hong kong. were targeted in late december two thousand and sixteen when i was in germany speaking at a conference the i received a phone call that the. sri lankan police criminal investigation department had flown into hong kong specifically targeting the snowden refugees so once i received that information from some witnesses i contacted the clients and i advised them to leave their homes immediately and we had secure locations for them and in march two thousand and seventeen the immigration department wrote to me and they said it basically they had said that they weren't in vesta getting anything about the sri lankan police coming to hong kong and they suggested we go to the police the first question police had for my clients it was all about. mr snowden and i had to put a stop to this quite frankly i was shocked that the whole police were focusing on mr snowden's activities in two thousand and thirteen one in two thousand and seventeen. the issue that the police had to address were the safety

because hong kong has a history of assisting the u.k. u.s. and extraordinarily rendition people on the whole can government has a history. of allowing mainland chinese security forces to come into hong kong and abductor people and bring them out of the territory and as well which. was not anticipated. government had allowed the sri lankan police to come into hong kong. that time it was mr snowden's liberty life were at risk and he required a safe place to stay. the so-called yellow vest movement in france has vowed to hold a further rallies nationwide against rising fuel taxes president emanuel micron is refusing to back down despite two weeks of mass unrest. last saturday's demonstrations led to a standoff with police and there were one hundred thirty arrests more than half of those occurring in paris five officers were injured including one who suffered. the head of a french police union told r.t. that officers have not been given the resources they need to deal with the unrest. started the whole montessori into this the police are overseen

in fact, for certain categories a real decline from china, hong kong, most hong kong air freight is trucker across the border, flown out of the hong kong airport. we're seeing some hit on chinese export volumes >> ryan, we talked to dhl about crude coming down, whether or not fuel surcharges could be eliminated or taken off. it is stickier on the way down than up. like the prime rate. >> very similar to the prime rate in freight. when prices go down, dhl and others have a tendency to keep some of that for themselves, profit margins go up when prices go down. >> the argument is well, with the way hedges are structured, you have to wait a couple of months, but would you expect surcharges to come off for people that transport goods? >> you should see that if fuel prices stay low, but it is funny because fuel surcharges are quite sticky people tend to not pass it through as quickly on the way down >> and lastly before we let you go, what are you seeing in terms of peak season volume? we have some early readings on cyber monday and black friday showing record numbers again is that what you're fi

darroch: again, i am not a massive expert on hong kong. it is working well, and the partners are leading up to it. sometimes are issues we think it basically works well. if you look at hong kong right now, it is thriving. center onal enterprise and commercial strength. walter: let's turn quickly to the middle east, and then i will invite the audience to ask some questions. likewhere i sit, it looks the most important trend in the middle east today is the decline that we see a number of arab states have been formed by contention. syria,re countries like nationalism, is not in control of its own territory. monarchies are looking at long-term declines in oil revenue, rising population, a number of trends that has been worried. has a long history of engagement and is part of the world, and a lot of relationships that go back, or in some cases centuries. to the greeks have any advice for the romance in this particular part of the world? amb. darroch: [laughs] that is a very vague picture assessment, and what you have described is quite a compel

kong that's probably where we had some of the most exciting developments for example with the hong kong regulator issued a new framework not only for crypto exchanges but also crypto funds and just to give you an example under the new framework and the crew license fund manager in hong kong and there's more than two thousand of them can hold up to ten percent of its portfolio in crypto us that's what are any additional licensing requirements and if it wishes to go over ten percent or actually make a dedicated crypto fun it may do so of obviously there are certain restrictions with regard to type of investors they can have and or capital requirement or the type of policies on the risk and valuation they must that they need to have but it's obviously a very interesting development when it comes to cripple funds and continue to position hong kong as a leading asset management center not only for the show us and management but definitely for crypto us at management as well but henri how do you how do you sort of split the baby as it were between too much and not enough regulation you know i

hong kong time. --sumer confidence slipped 8:30 a.m. hong kong time. consumer confidence slipped the most in three years. sophie kamaruddin in hong kong for us. discussions are moving along quite nicely ahead of the planned meeting at the g20. is setmp administration to enforce tariffs if the talks fail. enda, it has felt like managing expectations. is this a real breakthrough that might be a circuit breaker? a: a positive comment from president trump. he remarked somewhat positively earlier this week as well. from the outside, it seems like oris warming up some kind laying the groundwork for some kind of agreement. this was a scheduled call. we had some reality check remarks from mr. kudlow. be aid there would have to deal going on around intellectual property protection. we also know that this goes well good deficit. i do not think anybody realistically thinks that a deal that the u.s. has could be fully developed or thought through in time for the g20 later this month. what i would say is it is positive mood music. it could indicate that talks are m

our reporter joins us from hong kong. missing the ceremony did little to help cut the isolated figure over the weekend. >> the optics from this were very much the president in isolation, for not attending that ceremony because of the rain. and then there was the optics of the leaders and most of the , presidentether trump not walking in that line, showing up separately. he was not, and he was not seen. it was president macron and angela merkel who were sitting together, have their heads together at one point. their collaboration with seen, he was seen as being isolated and to be isolated on the international stage -- shery: president trump has seemed intermune -- immune, even though his domestic approval rating is not that high. resilient around 40%. any reason this could affect him domestically? reporter: not so much. he basically will do well with his base. they like the america first mantra. they like that seeming to take on this internationalist philosophy that was proclaimed by, quite strongly by president macron. bu

this is bloomberg. ♪ >> i'm in hong kong. a quick check it quick check of the headlines. -- the luster journal says officials have reached foreign counterparts and executives in from a nations where it is operating, including japan and germany and italy. >> thousands of the products are pulled from the retail website. a nationwide boycott that went viral. a video campaign and instagram,'s were seen as racist. , chinese consumers spend more than $100 billion on luxury last year, about one third of the total. >> may be able to take some encouragement from science the pendulum is finally slain their way, if it passes biggest stock club -- stock closed above average for the first time since june, 210%. it was boosted by third-quarter update better than expected. investors will watch closely one hong kong opens later. let's just ahead, theresa may says the brexit go is in her grasp. there is grumbling in u.k. and in europe. the outlook for european banks next, that is coming up. this is bloomberg. ♪ i'm all about my bed. this ma

tim moe joining us in hong kong. david: we have the latest on the rest -- the arrest, and also mitsubishi. this is bloomberg. ♪ >> this mentality where a ceo gets paid 20, 25 times what the average worker gets paid, japan does not want to tolerate. it is being used as a symbol to ensure the corporate leadership will stay -- to its workers. >> it had a senior-level impact, but he has been distancing himself. he did not come and bow with contrition when there was the inspection crisis. he was in japan at the time. that tied into the frustrations they were having with him. he is still very much in control. david: the thoughts of some of our guests earlier today on bloomberg tv on the crisis shaking the automobile license. in custodysn remains in japan after being arrested for alleged financial impropriety. standing by him, although the french government is calling for his removal. engle isephen following this drama for us in tokyo this morning. what is the latest? ofit is tough to keep track who is on whose aside, but

let's get you the first word news from hong kong. rosalind: president trump visited california, seeing firsthand the devastation from the deadly wildfires that have killed at least 76 people, left more than 1000 unaccounted for, and caused billions in damage. the president is trying to find common ground and how do solve the problem, marking a change in tone of his previous criticism of the state's democratic leaders. >> nobody would have ever thought this could happen. the federal government is behind you. we are all behind each other. speaking,i have been gavin and i have now gotten to know each other. we will all work together and do a real job. this is very sad to see. rosalind: theresa may is herinuing to say eurosceptic opponents do not have the numbers to oppose her. her leadership has been threatened but yet to be formally announced. critics say removing her will not change the situation. at the same time, the chief eu negotiator is asking the deadline be extended. italy's populist coalition says it is ready to talk to the eu

sophie: i am sophie covered in hong kong. welcome to "bloomberg daybreak: haidi: our top story, asia-pacific markets are upset by the dollars plunge. falling from 18 month high. west texas suffered multiyear declines as opec warns demand for its crude may slide more than expected next year. glimmernvestors see a of hope as investors confirm the white house is talking to china on all levels. for the news on potential easing of tensions between u.s. and china, helping optimism in the u.s., but not enough, given prices plunged. let's see how things are looking in asia. sophie is here. a three-dayr decline, asia stocks looking mixed in the wake of a choppy u.s. session. we have the nikkei and topix gaining while the yen is selling steady at 113 against the dollar. this despite the gdp report we got, showing the worst case of economic growth in 2014 -- since 2014. assessors will be looking at the impact of natural disasters and trade tensions. data,t comes to eco chinese sales and factory data will be the key data point to watch a

let's go to hong kong. how does the news on the bank -- meeting from 2009 impact goldman as it relates to its role? it raises a lot of questions, perhaps. >> certainly it does. there are few ceos who would not take a meeting with the country leader. this was three years before the bond deals. that is what landed them in the whole soup. that said, the people who were arranging this meeting were central figures in the whole corruption scandal. at the time, they were trying to bring joe low into the forms -- forms -- while there's no indication that he knew about this and would of been focused on the meeting with visuals as pertains to goldman trying to maintain some distance between senior leadership and want -- what went on the ground are not great. not great.ptics what are the key next steps to watch out for is the doj looks wrap this up? we trying to establish the extent to which they were involved in later meetings, for example. one of the question, who attended? we don't know that yet. there are a couple

in hong kong. the scroll is one of only two known to exist by the 11th dynasty master who is often compared to leonardo da vinci. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am tom mackenzie. this is bloomberg. haidi: let's take a look at the asian markets and how they are shaping up. seeing bright spots coming through. sophie: some way we are seeing a mixed session for asia while futures are edging higher. we are seeing gold gaining ground and treasuries steady with the 10 year yield near 3% level. checking on oil prices, we are seeing brent above $69 a barrel. there were declines after the worst week for oil in three years. energy players are the biggest drag in tokyo and sydney with asx 200 heading for a third day of declines while japanese shares are fluctuating and the cost be adding half a percent. we count down to the boj decision with a rate hike expected. we got 50 down .3% as retail sales fig

when mr snowden was in hong kong in two thousand and thirteen. it was in a situation where the most wanted man on the planet with the world's largest manhunt underway. this is this was not an ordinary situation i literally had minutes. you know once i was instructed by mr snowden to make decisions that would affect his liberty in this life form a cia employee snowden leaked a vast trove of classified national security agency data on u.s. government spying operations he fled to hong kong where asylum seekers helped shelter him from the authorities for two weeks russia later granted him asylum and he's lived here ever since. china says it was edward snowden himself who took the decision to leave quote through a lawful and normal channel but rather to insist that snowden was persecuted as were the other refugees who were sheltering him. december two thousand and sixteen when i was in germany speaking at a conference the i received a phone call that the sri lankan police criminal investigation department had flown into hong kong specifically targetin

that the space for civil society to raise sensitive questions about hong kong's future in hong kong is is. shrinking the public prosecutor's office refused to speak to doit chevelle about chance upcoming trial. china himself is pessimistic more protest events have been canceled and a foreign journalist has also been expelled i don't see any of this in the near future that we could get democracy this is the time to be fair and i'll sell to defend our existing freedom and our rights and we need to strengthen our civil society. john kinman next specs to be convicted but for now he runs while he's still free. there's been a big upset in the world of tennis an ad mccambridge from sports is here to tell us all about it hi ed thanks for joining us in our studio the world number one suffered a rare defeat to germany's great new hope tell us about that's what it looks on as there is just twenty one years old defeated know that joke which to clinch victory in the a.t.p. finals straight sets victory now it is worth mentioning that the a.t.p. finals on a grand slam but they are held in a very simi

anna: yvonne man in hong kong. today.mp bump in trade president trump is said to have asked key officials to draft trade terms with china in hopes to reach a deal at the g20 summit later this month. for more, let's get to jodi schneider. great to have you with us. we've had a response of china. bring us up-to-date with the latest. jodi: it all started with that tweet from president trump, saying he had a good long conversation with his chinese counterpart, and was really the first conversation we know about taking place in six months on the trade issue. then the bloomberg scoop, people familiar have told bloomberg asking hisesident is key officials to draft language for a possible trade deal with china that he and the president could reach at the g20. they have scheduled meetings. they're on the sidelines. they were holding lower expectations for those talks, but with the latest news, the expectations have been heightened. anna: is it likely this leads to a deal? we are close to the midterms here. jodi: that's righ

mao in hong kong, thank you. joining us for the rest of the show, the multi-strategy -- multi-asset strategist. let's start with talking about brexit. the updated everyone at the top of the hour. more than three standard deviation moves in sterling yesterday following the resignations and concerns around theresa may's position, whether it is tenable or not. ended the session flat, but you saw a big selloff in banks, in homebuilders. i know you have got a small overweight in the ftse 100, but are you standing ready to take opportunity with certain sectors? >> that is very difficult. when you look at assets, we can't ignore the brexit risk. extent, there were signs mid-cap, which are more domestic oriented, could do better in the medium-term but if you look at brexit, you would rather have exposure in large caps, the ftse 100 with a lot of revenue generated abroad. that.day, you saw just international companies making money abroad were quite resilient. mining companies, oil companies and you saw domestic ones durin

haidi: sophie kamaruddin in hong kong. let's get more. the british parliament on a roller coaster ride. let's take a look at what to expect. we are joined by mark. of whatthis flowchart the various possibilities are. it is anything but binary. the pound is pretty much untreatable at this point. is a fair reflection of how people feel. one of the reasons why volatility is so high, there are too many scenarios. the more scenarios you give to price in, the higher the volatility and the weaker the currency will be. it, these arebout the kinds of things going through their minds. if it does not survive, who will be the new leader? will they support the brexit deal this week or go for a new deal? or will they go for a no deal brexit? they could call elections or a second referendum. there are so many permutations coming into play that makes it very disconcerting for people trying to make an opinion. in the short-term, all the confusion just means that people get defensive and do not want to be involved in the pound. a bad thing and volatility g

people are not panicking in hong kong and china. rishaad: we already had it happen here. >> that's right. people probably think there is -- they are not expecting much. they are giving hope. in the u.s., nothing for now. we remain in the situation. i think there will be some selloff. david: would you buy the index now? >> yes, but not too much. liquidity is very bad. it will still be there. tell me something. what about earnings and earnings growth, looking ahead to the fourth quarter and beyond? i am talking about particularly the u.s. earnings season has been fabulous in recent times. you could argue a lot of that comes from cheap money and borrowing cheaply and doing share buybacks, which have artificially inflated the earnings growth, some would say. borrowing money to do that when they should be borrowing to invest. >> i am still optimistic. sign, actually. this is the cost of operating. they are at the lowest lowering now. we have signs for wage inflation. we have strong consumer confidence. are looking at thanksgiving holiday

david here in hong kong. in terms of how this affects the longer-term investment in china -- seven or eight years back if i had bought into the consumption index, health index, tech index, if i had played this theme, are any of those basic risks, themes and assumptions to those themes, at risk because of geopolitical tension, which might linger longer than we expect? james: the short and easy answer is yes, absolutely. as we take a step back we need to recognize changes we are seeing in the broader geopolitical environment. the fact that globalization, which is been a primary driver of emerging markets for the past 20 years, in the primary driver of emerging-market productivity growth, which enables markets to move forward, globalization is now at a minimum. one thing we see from a global markets perspective, we need to look at countries where we can be exposed as much as possible to domestic consumption trends. we want to be avoiding the on themultinationals argument that cross-border foes will be difficult.