worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, kevin cirilli from capitol hill on day three of the open impeachment hearings. ries on a big change in the u.s. policy toward the west bank and teresa rafael. kevin, what are we looking forward to? kevin: it was remarkable to hear these officials testify before the house intelligence committee. describingindman virtually his thought process when he was on that july phone call between president trump and ukraine president zelensky. he said he had no choice but to report that phone call directly to white house counsel because he knew it was political in nature. then there was jennifer williams. she is a senior advisor to vice president mike pence. she also described that telephone calls political in nature. just moments ago, house intelligence chairman adam , asking jennifer williams about how president trump tweeted she was a never trumper. would not describe herself that way but

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, from capitol hill, kevin cirilli on another day of impeachment hearings behind closed doors. jenny leonard in washington on hopes for a phase i one trade deal with china, and greg farrell on president trump losing appeal over his tax returns. mys breaking just as i take seat, two transcripts from the adam schiff investigation. kevin: a redhead line crossing as theomberg terminal house intelligence committee releasing two regarding the impeachment inquiry. the first is from the former u.s. ambassador to ukraine and the former senior advisor to the secretary of state michael mckinley. in public statements, what democrats are saying on the house intelligence committee's this is only going to further their calls to continue with their impeachment inquiry. in a public statement led by house intelligence committee chairman adam schiff, key said "as we move toward the new public phase

i'm david westin. pelosi also talked about her relationship with donald trump, the man and the president, given the fact they had a meltdown in the last meeting and she is investigating him for impeachment. we always want a president of the united states to succeed. the election happens, you want the president to succeed. but if he does not really believe in governance, it is hard to get to a place where we have results oriented proposals to go forward. he has said he wants to reduce the cost of prescription drugs, -- we will find common ground. i think we can. he said he wants to build the infrastructure of america. almost every conversation i have had with him up until recently included infrastructure. our three things were lower cost of conviction -- prescription drugs, bigger paychecks, and cleaning up the environment. david: you said until recently there was that infamous meltdown at the white house. have you spoken to the president since? speaker pelosi: no. reestablish a you relationship with th

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, kevin cirilli from the white house on president trump meeting with jay powell, damian sassower on unrest in hong kong, and from london jessica schenkel meant on the british election in full swing. we heard president trump was talking to jay powell about negative interest rates. kevin: the federal reserve putting out a statement in real-time about this previous unreported meeting. we know fed chair powell was asked by president trump to come to the white house and u.s. trip secretary steven mnuchin attended this meeting. according to a statement from the board of governors of the federal reserve, they said chair powell's comments were consistent with his remarks at his congressional hearing. he did not discuss his expectations for monetary policy except to stress the path to monetary policy will depend entirely on incoming information that bears on the outlook of the economy. reg

i'm david westin. or bloomberg first word news, we go to mark crumpton. mark: marie yet a lot of it believes that the trump administration's policy has thrown american foreign-policy into disarray. at the second hearing today, your ivanovic ascribed her feelings after you learning about president trump grommets ms. zelensky regarding her performance as the u.s. envoy to ukraine. devastated upon, that the president of the united states would talk about any ambassador like that to a , and ithead of state was me. i could not believe it. she is going to do that go through some things. it did not sound good. it sounded like a threat. mark: when told that the president had tweeted more critical remarks about her as she delivered her testimony, she said it is "very intimidating." in southern california, investigators are trying to uncover a motive for a 16-year-old who opened fire yesterday. the suspect took just 16 seconds to pull out the 45 caliber handgun, shoot five classmates, and then himself. two victi

i'm david westin. dr. henry kissinger was the man who went secretly to china in the 19 have a nice to pave the way for president nixon to reopen relationships. with the new economy forum in beijing, kissinger warned that we may see the start of a new cold war. after 40 years of increasingly strong relations. china and the united states are countries of the magnitude exceeding that of the soviet union and america. the soviet union was not an economically significant country. we had no economic relations to speak of with the soviet union, at all. in the soviet union did not appear on the international scene as a major economic country. china is a major economic country. and so are we. and so we are bound to step on each other's toes, the united history, sawgh its as a minor issue. so now when i see these dramatic side, unfolding on each there's bound to be influence, despite historical perceptions. in the united states is undergoing an election at the .oment so the people emotionally it's a dominant factor.

i'm david westin. for bloomberg first word news, we go to mark crumpton. china is trying to address one of the sticking points in trade talks with the united states. beijing will raise the penalties on intellectual property theft. china will also look into lowering thresholds for criminal punishments for those who steal ip. hasimpeachment process reached a decision stage. house democrats are starting to compress weeks of depositions of the documents, and testimony into a report. it is almost certain to result in articles of impeachment against president trump. has not ruled out more hearings or other areas of investigation. the president is preparingthe po pour hundreds of millions of dollars into florida next year. changes in demographics and voting laws have put the state up for grabs. the president when the state handily in 2016 but republicans land to make the race expensive. spend more than $200 million in florida. takeel bloomberg plans to an untested test to the presidential race. bloomberg anno

she is sitting down with david westin to talk about the economy and impeachment. you don't want to miss that. it is coming up at 12:00 p.m. eastern, 4:00 p.m. london time. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." time now for futures in focus. joe, we saw the employment number. it was much stronger than in passivity did -- then anticipated. what are the locations of that for the markets? joe: in the fixed income markets, you've basically seen at the curve has flattened. bottom line, short-term fear has kind of been alleviated somewhat because the consumer is still strong in the united states. that is reflected in the jobs numbers, especially that we saw 128,000. with the uaw strike, we thought that number could be about 50,000 less then what came out. the bottom line is you could see a growth number around one at 17000, 200,000 -- around 5000, 200,000. that has taken pressure off of the upside on the bonds. you can see the equities have really taken off because of that.

i'm david westin. for bloomberg first word news, we go to mark crumpton. mark: boeing thought it was close to a safety update to the grounded 737 max jet but problems with the stimulated -- simulated flight delayed for months. in resembles the problems that caused a pair of deadly crashes months earlier. boeing was forced to overhaul the plane's flight computers. president trump is set to rewrite the rules on vaping. he announced plans for new regulations today on e-cigarettes and vaporizers in the united states. oute are going to be coming with a very important decision on bait in. we have to take care of our kids most only so we will have an age limit of 21 or so. we are coming up with something next week. mark: meanwhile, the head of the white house domestic policy council calls the fda regulation of tobacco a huge waste of time. he says the agency should foc ae politician as the defense minister in his caretaker government. the move appears aimed at shoring up opposition to attempts by his chief ri

david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, kevin cirilli from the white house on president trump meeting with jay powell, damian sassower on unrest in hong kong, and from london jessica schenkel meant on the british election in full swing. we heard president trump was talking to jay powell about negative interest rates. kevin: the federal reserve putting out a statement in real-time about this previous unreported meeting. we know fed chair powell was asked by president trump to come to the white house and u.s. trip secretary steven mnuchin attended this meeting. according to a statement from the board of governors of the federal reserve, they said chair powell's comments were consistent with his remarks at his congressional hearing. he did not discuss his expectations for monetary policy except to stress the path to monetary policy

i'm david westin. martin indyk has had a distinguished career as a u.s. diplomat serving twice as u.s. ambassador to israel as assistant secretary for near east affairs. he is now interesting with fellow at the council of foreign relations. we welcome him back to bloomberg for today's conversation in chief. you have a fascinating piece in foreign affairs, summarizing president trump's policy in the middle east and how he has fundamentally tried to redo u.s. policy. it particularly focuses on israel and saudi arabia. start with israel. martin: it is important to understand, president trump intends to retrench from the middle east, essentially disengage from the region the best he can. is do this, he subcontracting to israel and saudi arabia, trying to get them to take on the responsibilities the u.s. has traditionally done for the last 40 years. that does not work well. israel is a strong power in the region, probably the strongest, but there is a glass ceiling on how much it can work with the sunni arab leaders because of failure to make progress on the p

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the briefon the brief today,n cirilli from washington on the testimony of gordon sondland, and from london, therese rafael on the debate between boris johnson jeremy corbyn. we've all been watching and bassett are sondland testify. allpresident has -- we've been watching ambassador sondland testify. was there a smoking gun there? kevin: ambassador sondland saying there was an "quid pro assessment, but not necessarily according to republican sources providing the evidence. at one point the ambassador said he said that vice president mike pence had a direct conversation with the folks involved regarding this matter. that has drawn swift rebuke from vice president mike pence office . i just got

our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, the wave of new economic data out for the united states. from washington, kevin cirilli on a new paul showing elizabeth showing- a new poll elizabeth warren slipping in the presidential race, and trees raphael -- and to raise -- and therese raphael in london. means isall of this slow growth going into the fourth quarter of the year. personal income and spending report indicated decelerating trajectory of personal income growth. david: a little disappointing. jelena? : little disappointed -- yolena a little disappointing. it would imply one point 6% in the final quarter of the year, which also implies gdp will not be as bad and the final quarter of the year. david: what you project for the fourth quarter? that is the critical question. >> tracking estimates suggest that growth will fall below 1%. we do not think so. we think growth will be in the vicinity of 1.7%, which will be j

i'm david westin. bloomberg first word news, we go to mark crumpton. mark: a judge has ordered former white house counsel don mcgahan testify to a house committee. the panel is investigating possible obstruction. mr. trump claims mr. mcgahn is covered by presidential immunity. the justice department plans to appeal the ruling. the irish finance ministers is any speculation about a reunified ireland is premature. speaking exclusively to bloomberg today, he said even after brexit, the country has a long way to go. many, manywe are phases away from something like that have a name. the good friday agreement is very clear that there would have to be a possibility of an agreement being reached. looks at the future of northern ireland and whether it is part of a broader ireland. the view of the irish government is the timing is not right for a poll like that. in fact, it would be counterproductive. mark: he also said he believes an agreement currently in place between the european union and the u.k. to preven

david: this is "balance of power" on bloomberg television and radio. i'm david westin. jay powell testified to congress for the second state date today. congressman steve womack of arkansas as the ranking republican. we heard your questioning in particular saying the economy is a patient and coming to the doctor, how is your diagnosis of the issues facing the economy. what did you think about his analysis? it sounds like we are in pretty good shape. rep. womack: as you said, i likened it to a periodic health assessment. you come out of the doctor and the doctor tells you the vitals are looking good. strong consumer confidence, a lot of consumer buying, a little weakness in the business investment side. we have trade issues we need to work through, but overall the ,atient is doing pretty well without the tolerance on his symmetric limits on inflation. i thought it was a good analysis of the overall well-being of the patient right now. there are longer-term structural issues that are economy needs to be dealing with, and i thought he did in effective job of putting that b

i'm david westin. bloomberg first word news, we go to mark crumpton. mark: house democrats signaled they may let what -- let some witnesses from republicans testify at the hearing but will be limited those that have knowledge of president trump's actions. there are at least two people on the republican list who will not be invited, hunter biden, and the whistleblower. it in one of the most violent days in hong kong since protest began in june. fighting between police and demonstrators left downtown paralyzed. police shot and wounded one protester. meantime, man sent to have the green with death disagreed with protesters was set on fire. warned protesters violently not help them achieve their goals. the british prime minister boris johnson got an election boost from the economy. the u.k. dodged a recession in the third quarter by avoiding another contraction. economy grew 0.3% between july and september but figures were weaker than expected and showed the british economy had little momentum entering the

david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, from capitol hill, kevin cirilli on another day of impeachment hearings behind closed doors. jenny leonard in washington on hopes for a phase i one trade deal with china, and greg farrell on president trump losing appeal over his tax returns. mys breaking just as i take seat, two transcripts from the adam schiff investigation. kevin: a redhead line crossing as theomberg terminal house intelligence committee releasing two regarding the impeachment inquiry. the first is from the former u.s. ambassador to ukraine and the former senior advisor to the secretary of state michael mckinley. in public statements, what democrats are saying on the house intelligence committee's

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, michael mckee in new york on a possible reduction in chinese tariffs. david powell from london on continued concerns over european growth, and from washington, fairies on new development. the united states says the first china trade deal would include terrible back. that seems like confirmation. michael: we did hear from the minister in china overnight that if there

audiences worldwide, i am david westin. ofcome to a special edition balance of power where the world of politics meets the world of business. a short time ago, i sat down with house speaker nancy pelosi covering the impeachment, the economy, the 2020 campaign and more. we will bring you parts of the interview, but first, we will start with today's jobs numbers 128,000 job g ain. speaker pelosi: while you make some indications that the economy may be improving, and god willing it is, in the lives of american workers, they still feel a stagnation of wages, stagnation of their opportunity. i think we have been having some -- i know we have been having constructive conversation about how we have an economy that works for everyone.

onnext, david westin bloomberg television and radio. the republican governor of alaska will be joining him later on. from romaine and myself, this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, tom orlik from washington on the latest economic data and the latest on u.s. china trade talks. also with us, craig farrell on president trump's growing list of subpoena disputes. some data out on the consumer confidence. down a little bit but still relatively high historically. tom: that is right. we have consumer confidence in november coming in 125 point from 1.126a fraction in october. that is a bit of a surprise. u.s. unemployment is low. markets are buoyant. there is optimism about the prospects for a trade deal. the markets are looking for a stable or slightly stronger consumer confidence reading. that said,

. , coming up,k you balance of david westin, he , it willwith our guest be a much wash interview -- watch interview coming up. aecking u.s. markets, down quarter of a percent each, a little more on the nasdaq, this is bloomberg. ♪ i'm david westin, welcome to balance of power, where the world of politics meets the world of business. from atlanta on the democratic debate, and also in washington, jordan fabian on president trump closing up the tech community. let's start with tyler in atlanta. we watched the debate, was it a debate or a series of presentations from candidates? say that this definitely did not have as many fireworks as we have seen in the or the -- the impeachment drama to the front row seats. the democrats on stage disagreed on certain things, but held their fire for president trump. david: the goal, should be, i assume, to get someone to vote for a candidate other than president trump. what was the argumen w

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, kevin cirilli from capitol hill on day three of the open impeachment hearings. ries on a big change in the u.s. policy toward the west bank and teresa rafael. kevin, what are we looking forward to? kevin: it was remarkable to hear these officials testify before the house intelligence committee. describingindman virtually his thought process when he was on that july phone call between president trump and ukraine president zelensky. he said he had no choice but to report that phone call directly to white house counsel because he knew it was political in nature. then there was jennifer williams. she is a senior advisor to vice president mike pence. she also described

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. chief washington correspondent kevin cirilli is at the white house. we want to talk about the elections yesterday, but first we have to turn that reuters report just out that the u.s. china trade deal may have to wait until december. this is a reuters report. certainly the market does not like it. did not like it at all. markets reacting on the news that president trump did not get to finalize or sign that deal until december. a key part of that agreement is that potentially those tariffs set to go into effect on billions of dollars worth of chinese imports into the united states would be off the table in mid december, december 15. reuters reporting that scheduling conflicts might have to prevent president trump and president xi from getting together to sign the deal. originally they had p

david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, therese raphael in london on nigel farage clearing the way for the tories. damian sassower on hong kong protest and maria tadeo on the results of the spanish election. nigel farage gave boris johnson something of a break. therese: yes he did. andromised to stand down 300 17 seats where the conservative party already holds the seat. this is just over one week after he threatened to put candidates in 600 seats against conservative voters if boris did not repudiate his own brexit deal. that was a nonnegotiable request for johnson, who then unleashed a great deal of criticism against nigel farage, basically saying the brexit party or going to spoil

she sat down with david westin on a host of issues. take a listen. >> we have decided we are going to support the constitution of the united states. that is the oath of office you take. for a long of time, i resisted weighing the equities of this is a fisa for the country. what the president did with the president of the ukraine was all doubt have to work on it. we are working on a deal with u.s., mexico, and canada. we do not have assurance on enforcement. i voted for nafta. i had disappointments. a disappointment is if you do not have enforcement, you -- nice things are listed. you will have enforcement. we can come to a place on this. i am not a big fan of medicare for all. i welcome the debate. i think we should have health care for all. i think the affordable care benefit is better than medicare benefit. that was nancy pelosi speaking with david westin. they marks 365 days until u.s. presidential election. baker.th us is stephanie let's take off with impeachment. the house has open hearings. what does it mean for president trump?

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, shawn donnan in washington on signs a trade deal with china may be coming together. on capitol hill, kevin cirilli on day two of public impeachment hearings, and damian sassower in new york on what political unrest is doing to the hong kong economy. shawn, let's start with you. another day, another new hope about a deal. shawn: we have been existing in the world of new hopes and false dawns for some time. we are in another day of new hopes, as you say. we are hearing from senior members of the administration, larry kudlow and wilbur ross that we are in the final stages of negotiations for this phase one deal. we also know from wilbur ross and from our sources that ambassador robert lighthizer, the u.s. trade representative

. ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. the senate passed legislation yesterday that would require annual review of hong kong special training status with united states. of theome a key member senate foreign relations committee, the democratic senator from maryland, ben cardin, who joins us from capitol hill. explain what was driving the senate. it is rare you get this kind of unanimity this quickly. sen. cardin: it is good to be with you and you are exactly right. the congress of the united states imposed special status on hong kong when it went under the control of china. that was under the condition of human rights and democracy of the people of hong kong being respected by the chinese government. we have seen in the past weeks with the protest taking place in china -- in hong kong, the chinese government violating that commitment and now the senate as reacted and we expect the house will do the same to make it clear if china does not respect human rights and democracy of the people of hong kong, there will be sanctions

and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, the wave of new economic data out for the united states. from washington, kevin cirilli on a new paul showing elizabeth showing- a new poll elizabeth warren slipping in the presidential race, and trees raphael -- and to raise -- and therese raphael in london. means isall of this slow growth going into the fourth quarter of the year. personal income and spending report indicated decelerating trajectory of personal income growth. david: a little disappointing. jelena? : little disappointed -- yolena a little disappointing. it would imply one point 6% in the final quarter of the year, which also imp

during an interview with david westin, the speaker was asked why house democrats are pursuing the impeachment inquiry. we have decided that we would support and defend the constitution of the united states, that is the oath of office we take. resisted, time, i weighing the equities of whether this is divisive for the country. what the president did, vis-a-vis the president of ukraine, removed all doubt that we had to act upon that. speaker pelosi has staunchly defended thursday's mostly partyline vote,

during an interview with david westin, the speaker was asked why house democrats are pursuing the impeachment inquiry. we have decided that we would support and defend the constitution of the united states, that is the oath of office we take. resisted, time, i weighing the equities of whether this is divisive for the country. what the president did, vis-a-vis the president of ukraine, removed all doubt that we had to act upon that. speaker pelosi has staunchly defended thursday's mostly partyline vote, although she had been saying for months that such a vote was unnecessary. raised $3trump million from online donors in the hours after the house vote yesterday. the campaign sent text messages and emails to supporters last night, saying the house vote was a reason for supporters to donate. recommendations call the inquiry noted that no house republicans voted for the resolution. debbieas received the to's permission to impose 3.6 billion dollars on sanctions against the united states. the case predates the tariff war. the wto previously ruled the u.s. must modify its anti-dumping regime in a se

i'm david westin. story youn with a broke at the top of the show. at the u.s. confirming phase one of the trade deal with china would include a rollback on tariffs. beijing already says the countries agreed to a phased rollback of tariffs the duties now applied to the majority of chinese exports to the u.s. lawyers for john bolton say he will not go before the u.s. house impeachment committee without a court order. it bloomberg has warned the house is unwilling to litigate the issue because it would take too long. today on capitol hill, vice specialt pence is adviser for europe giving closed-door testimony. iran says it blocked a special inspector from a nuclear site because she suspect -- tested positive for traces of explosives. acting unlawfully. the human nuclear watchdog is calling the actions a provocation. has detected evidence of undeclared nuclear material and iran. iran has no plausible explanation for the detected material and must explain where it came from and where it is now. iran's detention of this inspector was without question and outrageous a

david: this is "bloomberg daybreak." i am david westin in for alix steel. a check of the equity markets, there up across the board with one glaring exception. up in london, up in new york, and up in europe, but china is down because of bad chinese vika data. let's cross over to other assets. year has been unchanged all day. weural gas futures are up as have a storm coming in and oil is up. now we have eco-data. this is the second read of the third quarter for gdp annualized 2.1%. that is better than the 1.9% in the survey. personal consumption is 2.9% again. which than the survey, was 2.8%. price index up .1% over what was expected. core pce better, lower in that sense. orders, a big gain , up .6%. the survey was down .9%. joining us now to go through the ,umbers is steve ricchiuto walter todd of greenwood capital is still with us. steve, a quick read. this is encouraging. it is encouraging. i would go beyond the gdp numbers because an uptick in consumption expenditures added thehe headline numbers, headline numbers are better at the core. the real thing is

common up, balance of power with david westin. we will bring you the speech to the economic club of new york live. these are live pictures. he will be speaking in just a few minutes. this is bloomberg. ♪ david: from bloomberg world headquarters to our tv and radio audiences around the world, welcome to balance, or politics meet business. president trump will deliver marks to the economic club of new york in this hour. wall street will be watching closely. here with more on where things stand at what we can expect, we welcome mike mckee. he is going to talk about more than just trade. forescout -- forescout came to mind. we know he will talk about trade. there are some excerpts from his speech, those who want access to the american market must play by the rules. he is changing the rules as we go along. the american market is the most coveted on the globe. his spokesman said you can expect him to highlight how his policies of lower taxes and d regulation have supported the longest r

. ♪ \ david: from bloomberg in new york, i am david westin. welcome to balance of power. u.s. datakee on the and the state of the economy. kevin's really is here on elections. aboutwestbrook will talk the sec. we had several pieces of data out today. what is most important to you? is hungry foret good news. business expectations for the service industry, it's not a manufacturing index. it includes agriculture, it is taken as a proxy for services. don't pay attention to the numbers so much. that index had been heading down. there is a rebound in confidence going forward. the worrisome aspect of it is the trade war continues. we

david westin spoke to her on bloomberg's "balance of power." rep. pelosi: nothing is more wholesome for the system then increased leadership of women. when women succeed, america succeeds. we want women to have the confidence that there is no secret. they can do the job, so don't be shy about that. alix: don't be shy. got to love it. coming up, or the wheels about to fall off the good mood of brexit? if you are heading out, tuning into bloomberg radio on sirius xm channel 119 and the bloomberg business app. this is bloomberg. ♪ ♪ alix: time now for trader's take. joining me as vincent cignarella, voice of the bloomberg audio squawk. you are looking up the cable rate, for good reason. what do you think? vincent: the talk of the town basically is nigel farage. which way does he go? initially, the thought was he would pull his campaign from the election. that would give boris johnson -- excused majority me, i'm stuttering like brexit. now it looks like he is trying to get a better deal, threatening to put his candidates into the mix. then we would

taylor: ford automotive president joe henrik sat down with david westin to discuss whether ford has been late to embrace electric cars. >> we have been taking our time. we are leaning in to our iconic nameplates. the mustang extension of the brand here. we wanted to get the cost rate. we wanted to wait if the customers were right. we are part of the largest charting network in america. we have 12,000 locations. you're going to make money selling this vehicle. >> where you going to make them? >>>> we are going to make them in mexico. a big volume is going to europe. we can ship from mexico to europe duty-free. mexico.a plant in we stopped building the fiesta sedan as we right size our portfolio. that plan can be converted over. >> we are talking to joe henrik. you were talking about europe. how much will be sold in the united states and how much in china? a big market for a u vehicles. we are going to build it here and ship it to europe. the opportunity of selling the vehicle and building the vehicle in a china at a later date. into thes how it fits overall restructure of the economy. we

he discusses his views earlier today with david westin. government here to help, i cringe. i have watched the federal billion torom $70 $4.7 trillion next year. onhink we need to cut back regulation. i think congress moves at the speed of congress and not the speed of the internet. i don't want to see private companies being managed and free so i haveng managed, not been a favorite of breaking of facebook. that is not the issue. i said a long time ago you have some -- you have no privacy, get over it. i don't believe if you're getting a free product like you should have an expert edition that your data will be free. i said anything that gets digital digitally is a tattoo and very hard to erase. the only people who have been able to erase anything are the clinton 30,000 emails. breaking it up is not going to be the problem and trying to regulate, i always get frustrated with the phrase hate crime. i think all crimes are hate crime's. -- crimes. we need to get the political discourse off -- off of social and i have suggested we need to forte an equivalent of npr that politica

power,"p, "balance of with david westin on bloomberg television and radio. he will speak with the former u.s. ambassador to china. that is next. checking the u.s. markets, still holding tight above the record levels. and nasdaq. this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide , welcome to balance of power where the world of politics meets the world of business. dramatic hong kong elections over the weekend. kevin cirilli on what comes next in the impeachment proceedings, and from london, jess shankleman on the tory election manifest. the, pretty dramatic in result and the turnout in the election in hong kong. bill: turnout more than doubled with 85% of the seats going towards candidates who have supported the protesters. a very strong rebuke of beijing. the kind of thing that is a warning shot to the u.s. and the trump administration, which has tried to to a fine line between the support of pro-democracy protesters and keeping china on at sign for those all-important trade negotiations that

i'm david westin. reporter: a surprise drop in u.s. productivity last month, the first time in almost four years, decreasing an annual rate of three tens of 1%, suggesting a pickup and efficiency was more than a temporary shift. aban onreed on e-cigarettes in san francisco. the biggest e-cigarette maker, juul led an effort to overturn the law. lawmakers in puerto rico are under arrest in connection with a corruption probe in the u.s. territory. fbi agents took a senator and other people into custody. says.s. attorney's office this includes former municipal employees indicted on allegations of theft/bribery involving programs receiving federal funds. russia set to deliver a sophisticated antiaircraft missile system to serbia after the u.s. warned of possible sanctions against the balkan country in the event such persons is -- in the event of such purchases. belgrade has pledged to stay out of nato. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. thi

he discusses his views earlier today with david westin. >> the government here to help, cringe. i've become more of a small government person the older i get. i've watched the federal budget go from $0 billion when i was born to $4.7 trillion next year. i think we need to cut back on regulation. i think congress moves at the speed of congress and not the speed of the internet. i think they'll get it wrong. i don't want to see private companies being managed and free speech being managed by the government, so i'm not a favorite of breaking up facebook, that's not the issue. that is not the issue. i said a long time ago you have no privacy, get over it. that's the truth. i don't believe if you're getting a free product like facebook that you're the customer. you are the product in that space. you shouldn't have an will ation that your data be safe. i said anything that gets captured digitally is a digital tattoo and very hard to erase. the only people who have been able to erase anything are the clinton 30,000 emails. that's the only thing that's gotten erased on the internet. bre

she spoke to david westin. we will move to 5g, need new airwaves to power that, and some of those airwaves are mid band airways. band you are talking about is right there. twoftc allocated that satellite services and they could return some now and make them available for wireless, and that is at issue, what is the best way to make that happen? for a while, the ftc was exploring a private sale, but increasingly it has started to look legally complicated, hard to do, and capitol hill has suggested that we do this through a public auction. the ftc chairman announced he would prefer a public auction, and we will work with folks on capitol hill to see if we can do that. david: one other dispute that came up, the six gigahertz dispute which appears to be wi-fi, companies like broadcom, versus utilities who need that spectrum for emergency communications. jessica: airwaves are getting complicated and when you have an existing use and you propose new uses, there tends to be some friction. wi-fi isd spectrum or an impor

westin on a number of issues, including whether u.s. investors can feel confident about investing in chinese companies. >> we have a great system. every system has flaws. every system has bad actors. we are trying to eliminate the flaws, get rid of the bad actors. but on a comparative basis to other countries and how they regulate their capital markets, far superior, far more investor protection, far more transparency. some may say i am too much waving the flag, but that's true. investors should recognize that. as you go to other markets, you do not have the same protections that you have here in the u.s. so i want people to understand that. it doesn't mean we should foreclose those opportunities because there's clearly gross in places outside the united states. there's clearly good investment opportunities. but investing overseas is different from investing in the u.s. things thatf protest -- one of the things that protect investors is the 10 b five. the set apply to a chinese company? >> there's a big difference between what the law s

david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, erik wasson in washington on the whistleblowers letter to president trump and a second conversation with president zelinski of ukraine. welcome. let's start with what the president told us about today. the second conversation happened first, back in april. erik: that's right. there was an initial conversation between president zelinski after he was elected and president trump. trump is saying he would be willing to release that. we do not know if he is clear that with zelensky. linsky was surprised when the initial transcript came out. it caused him diplomatic problems with the eu. -- pardonalso saying me -- he is against the idea of having a public hearing. this is in contradiction to the gop

on friday, nancy pelosi sat down with a conversation with david westin in new york. >> we have decided that we are going to defend the constitution of the united states. that is the oath of office we take. for a long time, i have resisted whether the equities of this is divisive for the country. but what the president did removes all doubt that we had to act upon that. and this is not about his personality, his policies. that is for the election. this is about defending our democracy, which the president has said, article two says i can do whatever i want. it doesn't. article two makes him a monarch if he interprets it that way. that is not what our founders had in mind. a republic, benjamin franklin said, if we can keep it. we believe it is our time to keep it. we believe that times have found us. >> you served with mike pence when he was in the congress. what would he be like as a president? >> i have no idea. we haven't even made a decision to impeach. this is what an inquiry is about. --but you started a project a process. the logical extreme is removal. >> i don't think it is extr

"elcome to "bloomberg daybreak 27.his wednesday, november i'm david westin. alix steel is off today. sb futures are up. the dow is up, the nasdaq is up, right across the board. euro versus dollar down slightly as we get a new commission. the u.s. 10 year is unchanged after several days of buying