china? >> also because the chinese won't allow it. >> that is an additional factor. they have allowed the penetration of western ideas for decades and now the problem is they found those ideas have hisme what president and congress referred to as china has an ideological problem, he didn't develop that idea, but he acknowledged the china has a problem a. cache of -- problem of ideology. the problem is these subversive western ideas are subverting the ideology of china and this pressure back against it and we see that as repression. of thet as an upwelling influence of western ideas. , you've got tods look at both sides of the question. >> let me say there is a danger of perhaps all agreeing with each other on the stage. palmer, says it's only takes one site to start a war and they believed to be in a ideological and geopolitical contest with u.s. power worldwide. fundamentally it affects the way ccp leaders think much less than our decisions -- discussions consider. the long-term china obser

and china. from the center of the national interest this is just under 90 minutes. >>. >> good afternoon. welcome to the center for the national interest. you may notice if you've been here before that we have a few more cameras than usual. that's because we'll be on c-span so therefore the other question to be answer side yes, we're on the record for this conference. the -- if you're here, you're into theed in subject so it hasn't escaped your attention that there are tensions in our relationship with china and while people talk a lot about that, nobody talks much about what the effect is on our allies and friends of what we're doing with china and we have three excellent panelists here to help answer that question. dr. robert sutter, professor of practice atquestion, dr. robert sutter, professor of practice and former intelligence officer for east asia. scott snyder at the counsel on foreign relation, author of two books written in the past couple of years, south korea at the crossroads, and j

they saw that these market could be opportunity for china's overcapacity in china thanks china has a cumulative amount of -- at the peak they would invest these reserve somewhere. therefore the use china for reserve to use the overseas market will create business opportunities for china's domestic market.and at the same time, it will also create the influence china has aspired for outside the chinese border. i would say that for the very beginning of the bri it was not top returned they were very eager to use a pr campaign and as a benevolent effort. as a benign public good that china was provided to the world. but economic liabilities at the very beginning was not of the top consideration. in these would look at the financing, the sources of financing for bri. certainly, financing from banks. definitely occupies the largest share and largest majority. for a lot of these infrastructure projects, the support from cbb is usually higher than 80 percent. for example in malaysia d.c. china providing according to the agreement, providing 85 percent of financing. and the other 15 percent wo

or taiwan province of china and. in the ministry of foreign affairs over here we need to develop substantive relations with delight my to countries and we also have to safeguard those countries that are still having relations with us with taiwan. and in the last two years five countries that have relations with you have defected to china that must hurt it is difficult for us and what we try to do is to make sure that the senior government officials in senior government officials in our diplomatic elyse are highly connected and i think most important trait of taiwan is taiwan is that democracy already and we have very proud of that and many of my countries continue to priest i want us a beacon and because taiwan is already a democracy and therefore if we are able to develop closer and closer ties with like minded countries but when former friends like el salvador became a fast so say sort of we're going to recognize beijing there must be this sort of sense of betrayal because these countries up until then point have b

china cannot succeed. china is not allowed to succeed did it is somehow wrong for china to succeed. an and unattainable position for us economically. i see too many voices in this country who are slipping into that position. my friend hank paulson warned about an economic iron curtain coming down. i think that was a valid warning. i would also warned about a new mccarthyism. with respect to china where we lose our objectivity accuracy. >> but it is true that when china joined in 1999, you went to congress to get congress to approve the trading relationship , we all believed at that time that china was on the quite different path. what you said to congress, when he recommended her approve of the trade deal. we can strengthen the hand of those that favor china. more difficult for china to turn back the clock. becoming more market-based. more protective of commercial and personal freedoms. the end of history. the end of the cold war. they did not happen. if anything, going the wrong way >> much more market oriented economy then it was. america's firms have much more access than they di

because china retaliates. and retaliates so quickly and immediately against countries that do take actions against china. and they retaliate very clearly in this trade sphere. and even for fairly innocuous actions, where the nobel peace prize was given. what's the first thing china does? it bans the exports of salmons. because they don't want to award the peace prize. where they have the developments of the islands in the south china sea. and wins the case. what is the first thing china does? ban philippine mangos, from going to the philippines into china, as a way of retaliating. so countries have been really reluctant to take on china in a major way. for fear that they will be the subject of this retaliation. again, hence the reason reason why my view is if you put together a large coalition of countries, it does create a bit of a shield against this ability for china to immediately retaliate. the other part of it again, as i mentioned is evidence. it is hard to get enough of this evidence particularly becau

since aged times, china has seen -- ancient times, china has seen numerous movement. there is more than one way of governance and the ancient way is not the only way to develop a nation. guided by the believe that all people under heaven are one family and all nations should live in harmony, the chinese nation sees ancient times as engaged in powerful changes which of foreign nations. such vibrant engagements gave rise to the ancient silk road, accentuated by the pleasant training of camel bells along the way. as an agent saying goes, a gentleman should constantly strive for self perfection. just as the earth stays receptive through supporting others, a gentleman should embrace the world and all humbleness. such spirit of reform and opening up gave rise to the chinese a civilization. the only one of history that has extended for more than 5000 years -- in history that has extended for more than 5000 years. [applause] a review of the past several thousand years shows that reform and opening up remains the norm throughout china's history. such profound historical and cu

and china. can is not contributing much to global warming and its green power programs aren't going to stop it either. only bare their foes if also other countries across the world doing the same because what america does what you do what dana does affects what happens in town so far trying to limit them but. some of kenya's power may be green but the energy sector is mired in corruption scandals. electricity uses pay a high price. about half the population can't afford it their main energy source is charcoal made from felled trees another contribution to growing carbon emissions. i would use electricity but i can't afford it i'm taking care of my grandchildren but just one thousand of chuckle is enough to cool all of them. there are no easy answers. but geothermal power helps and if the world industrial powers embraced this kind of technology climate crisis might be mitigated malcolm webb al-jazeera nairobi kenya. to take a look at the top stories here in. the u.s. president's chief of staff jo

china's trade super highway. i'm rishaad salamat. >> our leaders are letting africa go to china. that is my view. i think we need to do it in moderation. while at the same time, maintain our country. there is quite a lot we can learn and gain from china. quite a lot. but i think we need to do it to some extent, not get china to come and take over our country. [applause] >> we do not interfere in the internal affairs of african countries. impose our will on african countries. attach any political condition on the economic aid to africa, nor do we seek selfish political gains in investment and financing cooperation with africa. [applause] rishaad: china is pushing back against criticism, the belt and wrote initiative loads up -- belt and road initiative loads up partner countries with debt. it also refutes claims it is aimed at strengthening beijing's global influence. the chinese president maintains the initiative as a tool for common prosperity. while the roads, rail and port infrastructure are needed in africa, the continent's debt is rising. about $12 billion in chinese loans w

. >> of a trade war with china? . >> i hope not but on both sides of the rhetoric that they are getting more and more confrontational there is no reason why we need to have a cold war with china the world could accommodate our greatness and unfortunately right now it looks very confrontational in the economic realm in the security realm. >> president trump says china doesn't play fair he said just this week i just want our country to be treated fairly and he has a point. >> sure. sure of time some of china's practices of intellectual property historically have been problematic there are stories about commercial espionage certainly there are examples where china has broken the rules with respect to subsidies but no nation has an unblemished record on trade no nation with unproblematic practices and usually we work towards conversion with an idea that works for everybody what is extraordinary that degree of confrontation in which president trump has sought to engage on trade issues not just with chinana but with the w

and china? caller: we subsidize our farmers, we subsidize our drug companies to the national institute of health who does all the basic research and hands it over to them. we've all got our problems and i think c-span for whatever reason up.rying to gin this crap trump said i'm going to have a egg youthful drug plan. we would haveed billions of dollars to spend on the wall. thanks for taking my call. host: that is patrick and lady lake, florida. how long have you been covering trade? guest: coming up on three years. host: as you look ahead, we talked about usmca, china, what other nine usmca, non-china stories are you looking for in the new year? guest: a lot. if you think 2018 has been a big year for trade i think 2019 is where it comes down to the wire. usmca has to pass congress's i think that is something everyone will be looking to. what will it take to pass congress? there's going to be a new chairman of the senate finance committee coming in. senator chuck grassley. .e heard subsidies for

we have upheld the one china prince. and the consensus strengthened and economic and promoted peace for development of relations. we have deterd separatist elements, keeping a firm hold on the initiative in developing relations. all the soens and daughters hav developed a stronger sense with the chinese nation and chinese culture and a firm he resolve to pursue the chinese dream together. in the past 40 years, we have stayed committed to an independent foreign policy of peace. the path of peaceful development and a win/win strategy of opening up. we have firmly upheld the basic norms governing international relations in fairness and justice in world affairs. we have made a historic transition from a closed and semi closed country to one that embraces all around opening up. we have taken an active part in the economic globalization and made our contribution to the common development of mankind. we have actively promoted the building of a noble world economy and the community with a shared future for mankind. we have pushe

china is going. there is a debate going on about that. is china going to advocate for more reform, more opening up? the government thinks so, but people do not have confidence. or is china going to be more closed off? reformistsast, have argued, why do you want to make this yourself? ,ut now the argument is, see because you do not want to subject vulnerability to the control of the united states. i think that these are the hard questions going on about restructuring of the economy and which way china will be going. but looking at bri, i will say that it has had an affect the supply. chinese companies especially with the business contracts, because they need to digest overcapacity. and i see that will continue. >> it is up to you. >> i will be fast. on china and bri and the u.s. response. there was a study by citi that given the trade tensions between china and the u.s., we will see china, despite economic challenges, putting more into diversifying its relationships away from the market market. the ot

china ratifies the u.n. convention on the law of the sea, yet builds artificial islands in disputed waters. china claims to champion the developing world, yet china's loans create debt traps and undermine sovereignty. the chinese government pursues its goals by any means necessary, some are clearly illegal like economic espionage and computer intrusions. even those that appear legal often rely on deception, such as front companies or digital back doors. some are lawful but not reciprocal, exploiting the openness of free nations. that's why investigations and judicial actions are critical, but we need an even broader response to this threat. we must continue to inform businesses about supply chain risks and insider threats, inform academia about talent recruitment programs and theft of research, inform the chinese community about coercive repatriations, inform police and public officials about threat indicators, and inform the public about data risks and maligned foreign influence. as the united states pursue

in china. and a senate foreign relations subcommittee hearing. >> this hearing will come to order. let me thank you all the witnesses to the 11th and final hearing on the east asia pacific international cybersecurity policy in the 115th congress. i first want to again thank senator markey for being an incredible partner on this subcommittee. you couldn't have asked for anybody better to work with. the east asia pacific subcommittee has held the most hearings of any foreign relations subcommittee in the 115th congress. quite an achievement for the american people who sent us here to conduct vigorous oversight over our nation's foreign policy. and i want to thank senator markey for the work that we have done together throughout the indo-pacific region we authorize the asia reassurance initiative act, a landmark legislation to strengthen our alliances and deter our adversaries in the indo-pacific for years to come. we conducted five hearings, examining a range of national security economic and rul

relations with china. i begin with the trump administration' national security strategy that refers to china as a strategic competitor. the administration has accused china of being an unfair competitor, and this analysis seems fair and accurate. but to compete, the u.s. should not criticize -- should not just criticize, it should have an affirmative strategy. our strengths in my opinion start with our model of the private sector, not government ourort leading the way, and deep and long-standing relationship with our allies around the world who share our values, not just having transactional arrangements. china may have spent $1 trillion on its belt and road initiative over the past five years, it is more important that in the indo pacific region alone the u.s. has $1.4 trillion in trade annually and invested more than $900 billion in the region as of 2017. these are u.s. strengths. we should use official tools to highlight and leverage such strengths. that is why the trump administration and congress dese

and china. we are seeing wti bouncing back factaining .3% despite the they dipped in the new york session p we have comments from opec plus, no details on what sort of production cuts we could get from the group. we are looking at the pound, now holding steady. right now the key question is what happens to brexit has prime minister may is struggling to get that deal through parliament . let's see what the asian markets are doing now, sophie. sophie: struggle is the right term because we are looking at a muted start. we are looking at a mixed start. we have the asx 200 on the back foot, under pressure, off by .1%. wellington is gaining grounds after a two day drop. we can look at a mixed a session for asian stocks as investors come to terms with prospects for the u.s.-china trade deal and the cloudy outlook of global someh which is having people think there is wishful thinking about a turnaround for markets in 2013 -- 2019. this man finds it hard to read accelerate the global economy. intootion i

inside of china. and finally, china's government has protected other governments accused of significant human rights violations. china is working through the united nations security council to protect the government in burma from international condemnation for its brutal assault on the road and go, it is weakening the international efforts to pressure the regime in cambodia by offering financial loans and giving lucrative lines of credit to venezuela as the world tries to isolate the president and it is noticeably silent on the president drug war in the philippines as it strengthens economic and security partnership with manila. such policies undermine, establish human rights standards internationally and they challenge individual freedoms and liberties the majority of the world holds dear. it is imperative that we confront this challenge. they must engage with our chinese counterparts head on about our concerns and work with allies and partners to establish a collective front against this malign beha

all of china. the production processes in his plant have been optimized and every single movement has been timed down to the last second and. hundreds of trucks come and go every day each day they offload twenty thousand tons of fresh tomatoes going to start putting water in the crater the four to say fifteen sacks. so when they come here that's already pretty pretty much for water. saving fifteen seconds per truck saves the equivalent of one working day per year. i'm paranoid i think we could do a lot better. and i see more detail and so it's a lot of things to fix a lot of things you improve so i don't consider we do that well. morning started fish and company very much because they have managed to reduce costs also the supply chain from the field to the trucking those finished goods for dollar investment in the labs. to produce much more. they can produce more than six million tons of fresh tomatoes that's more than the oil it's only three factories it's impressive really amazing. every hour chr

with china, there are so many steps that china needs to go through, in order to have a system that we could even interact within that way. but, what i do think we want to do with china is find ways that we and the president have set a deadline of 90 days, to find ways that they can take major steps forward in terms of systems, to create a more level or unlevel playing field with the u.s. . >> i recognize mr. hollingsworth from indiana . >> good morning, i appreciate you being here i have followed your testimony today as well as previously and i wanted to take a giant leap backwards to talk a little about the global architecture and how i go home and what we are trying to accomplish. we talk about this huge alphabet soup with a lot of different missions and corporations and goals they've set for themselves, the united states spends a lot of money on this end time, what are we trying to accomplish across the entire platform. what do i tell those back home that we are trying to accomplish? >> originally the purpose was to try to rebuild europe after world war ii . >> today the mission sp

order would liberalize china. contrary to our hopes, china expanded its power at the expense of the sovereignty of others. according to the national defense strategy. the central challenge to u.s. prosperity and security is the emergence of long-term strategic competition by what national security strategies class i asked revisionist powers. it is increasingly clear that china and russia want to shape a world consistent with their authoritarian model, beginning veto authority over other nations and their economic and security decisions. this has resulted in an intensifying crackdown on civil society, ethnic boundaries, -- ethnic minorities, and religious freedom in china. this has shocked the conscience and necessitates a serious response from the united states and international community. in the tibets autonomous region is intensifying. while beijing continues to review negotiations. human rights defenders are jailed, tortured, and otherwise deprived of liberty. the genuine freedom of speech and assembly are none

i do believe if we get china -- you know, china is already cutting tariffs. connell: i want to stop you for one second. we have to take the commercial break here and you and i talked about that "after the bell" last time you were on. are they cutting tariffs on our products? >> they are. 1500 different goods. i do believe president trump tweeted that he and the president of china came to an agreement to get rid of auto tariffs into china. there is questions whether that is real or not. i think in the end china doesn't like to lose face. that is one thing we know for sure. a lot of this is going to happen behind the scenes can be a little less clear. it's not going to be a big headline. the markets down 500-point today. everybody's out about it. the dow and the s&p are still up 2.5% this year. china is down almost 19%. europe is down 9%. the u.s. is outperforming the rest of the world and i get it. everybody's used to the market keep going up for nine years and now they're worried it's going to be ending. profits are still rising. pretax profits up 10% a year.

china china's economy has grown by leaps and bounds over the last forty years we've all gotten used to it is there no end in sight well there is a sign that things are slowing down certainly the trade war is having an effect. it was never going it's not it's hasn't been the double digit growth rates now for several years. some economists are saying that the economy in the current year has slowed down by a lot more than people were expecting before so i don't think it's going to be an internal growth story but at the same time you're talking about a very big economy growing a little bit more slowly which is still a huge amount forty years ago china reinvented itself economically many observers thought perhaps that that political transformation would fall though has it i think you have the same commies party in power now that you did forty years ago. the current administration current version of the communist party came out of his of the cultural revolution with the dawn of the great helmsman on the cultural revolution so i think you haven't seen you haven't seen any political change

that's what china 2025 is about. so for them to change that, for them to recognize their economic growth to realize their goals isn't going to come from forced technology transfer and intellectual property theft and a state-run system which they now have but have to adapt to another system based on u.s. demands, that's a much more difficult path and i think the markets are reflecting that. >> okay, so some of the remedies president trump and his advisers have taken and believe will work are these tariffs, the whole tariff war, and of course the markets have plummeted, we are told, because investors are not reassured anymore that this trade war is over and a truce has been negotiated. so let us read a few of president trump's most recent tweet this is week. i am a tariff man. when people or countries come into raid the great wealth of our nation, i want them to pay for the privilege of doing so. it will always be the best way to max out our economic power. we are right now taking in billions of dollars in tariffs, mak

and china help? i suspect it will be quite likely because this is only buying time into may be the end of february, and markets are still nervous about the prospect case of aet the worst resumption of u.s. dollar strength backed by higher interest rates, that will mean we are once again talking about the seven handle on dollar-china. and the authorities in china are concerned about what that could mean in terms of capital outflows. that would be consistent with fireworks resuming. near term, dollar-china should be under control. shery: why haven't we seen a bigger drop in the japanese yen from this temporary hold to the u.s. tariffs? the yen has been interesting the past few months in that it hasn't been as risk sensitive as it has been historically. they negotiated all sorts of turmoil from turkey to the october meltdown in stocks, so really the focus i think remains on the yield situation. thear-yen firmly watching outlook for u.s. interest rates -- kept in recent weeks capped in recent weeks, pric

china will never pursue its development at the cost of others interests, nor will china ever give up its own legitimate rights and interests. china purse is a national defense policy that is defensive in nature. china's development poses no threat to any country, no matter what state of development it reaches, china will never -- [applause] president xi: eighth, we must pursue governance over the party to increase the power to unite and fund. it takes a good blacksmith to make a good steel. the key to running china's affairs well lies in the party and self-governance in all respects. in the course of leading the great undertaking, our party must unswervingly pursue self revelation and have the courage to rid itself of any virus that erodes itself so that a party will continuously purify and reform itself and have a strong ability to organize the people and inspire society. only in this way can a party always maintain its close ties with the people. on our way forward, we must follow the general requirements of party building in the new era. and continuously advance the great new proj

so with the ukraine crisis it limited to not work with china or opposed china and from my research. and that other component to define that policy and that goes to europe and their use c the most successful and from 2017 and the chinese wanted to invest because of that strategic importance and then to invest because the japanese are looking at the infrastructure. there is much more talking than actions. and then to portray the concept. and the commercial viability. and so overall china was afraid it would be an obstacle. >> as a journalist from australia passing legislation without mentioning any country specific vet that they cannot see that the third world countries can pay those loans back? and for example were only one container of movement happens per week in trade from the aircraft carrier. and does that united front like it does in australia interfere to pressure chinese students? >> and that they said it isn't fundamentally an undertaking. >> with uninformed policy that just doesn't happen. that they have more strategic but it depends on the country. when csi has had a repor

china relations now china is apparently planning to cut import tariffs on american made cars a trumpet ministration official speaking anonymously confirmed earlier media reports that beijing has proposed reducing terrorists from forty to fifteen percent the concession would now go to china's cabinet for review if approved it would reverse the terrace that beijing had increased back in july the move forced many car dealers to raise prices and your carmakers like ford tesla and b.m.w. have seen their shares rise on the news. and of course markets have been paying very close attention to these developments last discuss them with our new york financial correspondent jim acosta joining us now hi yes it's good to have you with us so wall street from what we saw didn't wait for official confirmation to rally when this news came out and i'm clearly is so far this year has not been a good year for stocks and investors so for us card companies so when we got those reports we did see a jump in the stocks also the big makers even if they had vanished a bit to the end of trading and the big questio

the trade dispute between china and the us seems to cool off as china lifts some of its punitive tariffs on u.s. products we'll tell you why the markets are still in the red. and spain revives its solar power industry after years of struggle we'll take a look at the floor of solar sector it's time for business on the w m how you know to get us into the program the trade dispute between china and the u.s. seems to be cooling off a little bit beijing is suspending punitive tariffs on american made cars and announced a big purchase of u.s. soybeans in what sounds like a conciliatory tone the chinese finance ministry says it hopes china and the u.s. will progress quickly and its negotiations to lift all additional tariffs on each other's goods chinese consumers will soon be able to afford cars from the u.s. again beijing is reducing current import duties on u.s. vehicles from forty to fifteen percent tariffs will also disappear for a number of other u.s. products the regulations apply to the first three months of twenty ninety nine times agricultural products energy automobiles except for a

, pushing back china. i personally believe this is dangerous. i don't wish them to have the majority of people who are at nationalistic china first. i think this is not what the world needs. the former director—general of the world trade organization there. just hours after being elected the new leader in one of in the apartment largest states has given farmers some financial relief. it is waving wooden $5 million in loans after they suffer from losses caused by failing crop prices. its go live to delhi to speak about india business report. tell us what it going on. it isa going on. it is a lot of money that will come from the state finances, which will cause a lot of stress, though economists say it is good money going after bad money because although the politics that the new government is trying to appease the farmer a voter base in the state, but the economy of this is that these are small loan farmers who have taken these are small loan farmers who have ta ken loa ns these are small loan farmers who

south china sea right now. sending aircraft carrier, what we send them do. i don't think there's a lot of call to lob a missile at them. same with russia. we are deterring them in a variety of ways. many of the ones you outlines are crucial by making more friends in the region but go ahead. >> acting alone, the attack on ourselves, on the streets, to see the use of a virus in a sleepy english cathedral city you would have thought it was crazy but the strength of the response is nations coming together speaking in one voice. china presents the globe with so many opportunities and presented with china and the way you best influence behavior is not to do all the running, and other nations to say a common thing, whether it south china sea, it is good the us has rights of passage. but other nations have to be doing the same and british vessels actually transiting to the south china sea for the first time in a number of years. and you have to be willing to not constantly turn the other cheek. and from our point of vi

about china and the u.s. because meanwhile look at the talks are in progress and second round of talks are somewhat close but meanwhile the daughter of the founder of the tech giant weiwei is also second in command there has been arrested at a request for american requests for violating u.s. trade rules and in tehran sanctions i mean why ways they were china's government and even though china says that they arrest want to stop the trade talks with washington why the need to complicate things i mean these weren't just getting better you're just about to hammer out a deal or so. what this arrest do really negotiations well i think you're assuming more coherence within the u.s. government than might be. prudent. we have in the pension edition area the justice department does the fact trump didn't even know she was arrested at the time he was having dinner with she had the g twenty cannot tell bolton said that he didn't pass the news of imminent arrests or present trauma to understand that you know president shou

exports of cars to china. they are making a number of steps in addition a very large purchase of soybeans and a very large potential purchase of lng. they are starting to make some very early stage, very preliminary, but very welcome moves that are specific, tangible, and measurable. >> a landmark decision from the ecb, the central bank saying it will halt quantitative easing this month. mario draghi expect -- expressed some concerns about future economic growth. >> the balance of risk is moving to the downside. >> how should we perceive mario draghi today? dovish enough? >> it was a classic dovish tightening. >> europe is the region in the world with the sharpest deceleration. it is leading economic indicators. there is no sign of a bottom. he is highlighting a lot of uncertainty around china's fiscal stimulus. trade tensions, brexit, italy, better call -- better political stimulation. italy post-up was a recessionary growth numbers. these are signs to the downside. >> european leaders have toughened their st

in china's made in china 2025 industrial strategy. in recent years chinese spies targeted firms as diverse as cloud computing, semi conductors, robotics, energy and agriculture as mister chang mentioned and others. important to remember china does not only steal trade secrets and other crown jewels of us intellectual property but also try to steal important commercial information like pricing strategies so they can help their own companies develop pricing strategies. the department of justice even indicted chinese spies for strategy information from us labor union that was strongly opposing chinese trade practices. in terms of us government response to date, i think it can be broken up into 3 parts, better defense, prosecuting spies and increasing costs to china. first better defense, director krebs describes many initiatives currently underway by the us government to harden us government networks and private sector networks and other networks by private institutions and other entities to protect themselves from chinese espionage. the

identified in china's made in china 2025 industrial strategy. in recent years, chinese spies have targeted firms operating in sectors as diverse as cloud computing, misconductors, robotics energy and agriculture, as mr. cheng just mentioned, among others. it's important to remember that china does not only steal trade secrets and other sort of high-end crown jules of u.s. intellectual property, they also try to steal important commercial information such as pricing strategies by american companies so that they can help their own companies develop pricing strategies. a couple of years ago, the department of justice even indicted chinese spies for stealing strategy information from a u.s. labor union that was strongly opposing chinese trade practices. in terms of the u.s. government response to date, broadly speaking, i think it can be broken up into three parts: better defense, prosecuting spies and increasing costs to china. first, better defense. director krebs described many of the initiatives currently underway by the u.s. government to harde

and china. from the center of the national interest this is just under 90 minutes. >>. >> good afternoon. welcome to the center for the national interest. you may notice if you've been here before that we have a few more cameras than usual. that's because we'll be on c-span so therefore the other question to be answer side yes, we're on the record for this conference. the -- if you're here, you're into theed in subject so it hasn't escaped your attention that there are tensions in our relationship with china and while people talk a lot about that, nobody talks much about what the effect is on our allies and friends of what we're doing with china and we have three excellent panelists here to help answer that question. dr. robert sutter, professor of practice atquestion, dr. robert sutter, professor of practice and former intelligence officer for east asia. scott snyder at the counsel on foreign relation, author of two books written in the past couple of years, south korea at the crossroads, and j

for friends for its part china wanted to reassert its traditional influence the outcome was that china would be at the table whenever. were discussed and then there was the elaborately choreographed summit between u.s. president donald trump in singapore. high on production values low on concrete results. according to trump north korea's nuclear disarmament was a done deal trump was pleased with the results a lot of progress really very positive better than anybody could have expected and . in reality kim had signed only a vague declaration of intent similar to his agreement with south korea business as usual for the supreme leader. kim had tunnels destroyed at the nuclear test site in the run up to the summit it was a sign of diplomatic reproach more. but total disarmament will not be coming anytime soon the weapons are as bargaining chips came wanted sanctions loosened but trump didn't budge. relations with the south on the other hand were more fruitful a canine peace gift from him to president moon for six puppies the dogs are south of the border where millions of north koreans can

and china clashed at the world trade organization needed. for more that i'm now joined by cliff it is the beijing correspondent of the irish times a newspaper to feel welcome what did you make of the speech today well we had a lot of talk today about on swerving commitment to reforms and great socialist rhetoric there it was a very defiant speech i think one aimed at telling the chinese people that china remains strong given that there is some anxiety in china about pressure coming from the u.s. because of the trade war so i think it was very much about about painting a very positive picture of china's strength well this remark about china not being told how to do business and clearly washington yes it was aimed obviously is that it at the domestic audience but yes it's a message for president trump who's been. president trump has always been a difficult. person to deal with for the chinese as a the other countries of experience because people is exam predictable so this is basically laying a kind of a foundation i think saying that china wi

and china. as so many many countries and indo-pacific region, china is by far our largest trading partner. but overall the u.s. is our largest economic partner. and both of our relationships are underpinned by free trade agreements which is also something of a rarity. given with both those countries. i thought i would give a quick overview a comparative overview of our respective trade and investment relationships with each of these giants starting with the united states. two-way trade in goods and services is currently valued at about $68 billion. of that, the u.s. enjoys a trade surplus of approximately $29 billion according to according to the beer of economic analysis. analysis. australia's major exports to u.s. is primarily agricultural commodities were as our imports from u.s. are industrialized products. the bilateral investment relationship is quite significant and is valued at over $1 trillion. china china as i said is austras largest trading partner and accounts for nearly 30% of austr

and china. apple suppliers are now considering moving iphone production out of china, possibly creating supply chain chaos. and bloomberg technology live streaming on twitter. be sure to follow our global breaking news network tictoc on twitter. this is bloomberg. ♪ ♪ there's no place like home ♪ argh! i'm trying... ♪ yippiekiyay. ♪ mom. ♪ emily: welcome back to "the best of bloomberg technology." increasing trade tensions between the u.s. and china have apple suppliers prepping for unfavorable scenarios that could mean moving production out of china if terrorists rise to 25%. president trump told the wall street journal that tariffs could be slapped on smart phones and laptops made in china. we talked about this. >> at this point, it does not appear to be likely. quite frankly, we will get more clarity as we know how much longer this administration is going to last, whether the next administration is going to continue these tariffs. if we see them going into place. these are plan b,

and china. imagine that the chinese act like angels and say okay, we're done with ip theft, completely guarantee no ip theft, no industrial espionage, and that's really my question. those two plus -- we can play by the book, squeaky clean on wto, what else is important on the 142 request list that you presented to the chinese? what else is really important? so even if they're really good ip, wto, what else? >> sen. bolton: i think cyber crime is very important and i think all of you who use information technology ought to be concerned about it too. we know that the chinese have engaged in a very considerable effort at not just hacking into the government which you'd expect but hacking into your computers as well. and who knows what they've left behind. just speaking personally we know that china took thousands of personnel records from u.s. government files am and probably including mine, so my fbi investigations are open to readership in china. this is very disturbing activity. but it's their e

meanwhile china said that. washington's tariffs on steel and aluminum enable protectionism under the guise of national security. the e.u. isn't pulling punches either it blames the us for the entire crisis in the global trading system brussels is calling on washington to make concrete proposals to reform the welsh tweed regulator as the trump administrative questions and hinders the dispute resolution system they use saying that the us is the epicenter of the global trade crisis now earlier i asked our correspondent miles schrader what their opinion in washington was on that. well this is very typical trump style we see it in his political dealings as well as in his business dealings he likes to come into an established system and blow it out cause an earthquake so to speak which is exactly what we see him doing here and a lot of the current dispute seems to revolve around as we heard at the end there the what's called the appellate body which is the highest court within the w t o and in order to appoint judges

china, china, china. >> had, while were at it the federal government is doing everything they can to undermine what this president is trying to do. and i do think usually talked before but he should fire them along time ago that i appreciate tammy and niger point out which is it would be truly throwing diesel fuel onto a fire to do that especially at this point. it would be to political headaches. i do think in the meantime i have enjoyed watching the number of things that mueller brings back that have nothing to do with collusion or bust democrats and collusion they hands are completely dirty with. it's amazing to watch all that back in the new attorney general can put parameters along as well. lou: new attorney general - i'm telling you, it's always someone or something else. just fire them. niger, tammy, charlie, thank you so much for coming up next, we will hear from the man himself on trade. wilbur ross, secretary of department of commerce on what is going on with the chinese doctor on trade. we have the latest from the man himself. wilbur ross, next. stay with us. i'm snow. and

you talk about china numbers we would love to have china out of consistent basis. retail numbers, production numbers came out today, significantly above ours, maybe a bit of slowing on their part. what we're missing from the global growth story is the positive. the positive you're looking at the board above me, short-term interest rates, that will be no movement in short-term interest rates from what the markets tell me for the next five years. we're staying exactly the same. i have never seen this before in my trading career. we've seen nothing in the futures markets as far as the eyes can see. neil: you're referring that the markets are betting short-term interest rates where they are now they will stay for years? >> they will stay, all the way out, looking september of 2024. it's a flat, flat pricing right across, right across the board. so no rate hikes for the next five years, essentially what the markets are telling us. obviously that can change. hopefully will relief a lot of concerns people had about higher interest rates and, weirdly enough, we were concer

-china relations. this is bloomberg. ♪ . this is bloomberg. ♪ welcome back. this is daybreak asia. i am ramy inocencio. juliette: i am juliette saly. the u.s. and china reporting progress in trade talks very one-sided more enthusiastically than the other. president trump tweeted over the weekend, if made, the deal of a comprehensive, covering all points of dispute. big progress being made. president xi was more reserved, hoping for stable progress. to help us read between the lines as we approach the next round of take talks -- trade talks is a senior fellow from the asia society center on u.s. -china relations. he joins us from new york. thank you for joining us. you are cynical about this, suggesting president trump is trying to rally investor sentiment and ensure wall street ends 2018 on a high. i could not have put it better myself. i am so services -- i am suspicious of this tweet on a saturday. it reflects less a real sense of optimism that the two sides will reach a deal that will deliver wh