it is china's internal affairs. and if you have any, you know, contains or opinions, talk about it, you do that all the time. but to say that we need a military alliance to counter china. i think that is very far fetched as, as far as the stab trying to see at the end of the japanese occupation. it was american washer that carry chinese soldiers to those islands which have been traditionally part of chinese territory. when you buy the maps of the south china sea in before this house out china sea to dispute started the 9 dotted line, was there nobody was contesting these water countries. i was claiming already building lane, a building on these islands. china was forced to do whatever needs to protect its, its territory. the most important thing is these disputes between china and its neighbors that it has a dispute with and we are solving these issues the, the, the code of conduct, hang on everybody, you know, todd, no brain is, don't know to please don't tell me. going to james, i'm going to go to games now. hang

so much of western media loves to talk about china, criticize china, but very rarely do they talk to the chinese themselves. you are very notable media media figure in china and across the world. so i would like your thoughts about this new strategic alliance that is supposedly not directed against china. go ahead and basing and computer for the invitation. i'm speaking on my personal behalf on my personal capacity. so don't quote me as a special spence of the chinese government. so this deal is called a kind of security defense cooperation among the 3 countries. but i really don't think it fits into the notion of a cooperation because a co op and a cooperation is a word that has a relatively neutral and most preferably constructive connotation. but there is nothing constructive in this deal. i would call it a secret deal of perfect the profiteering and provocation. why do i say that? it's a deal poverty of perfidy. as francis said, you know, the united states, the u. k. and australia give some friends a stab in the back and they feel a deal between france and australia and gave that

in china. have the largest trading relationship in the world. china is the largest trading part. trading country in the world. australia has a tremendously important trading relationship with china. this is about business primarily, and because it's about business, the us china relationship and the australia china relationship cannot be ruptured without enormous damage to both australia in the united states. so i don't believe this is a step toward more or a step toward violence. i think that's exaggerated, i don't think it's, it's a positive development aim, but it is marylee about selling. yeah. but to use but to use your own words here. i mean, it's all about business, but this is military hardware. okay. that's. that's very, that's right. that's okay. and they didn't know what the problem is, go ahead. a solution said the problem is the war in afghanistan is ending. that was big business for american military contractors. they're looking for a new business. and right now there aren't fortun

joanna: china haswhat is the sih crypto mining in china? joanna: china has cracked down on crypto miners in recent months and many miners have actually left the country >> korea hoarding for the winter. shery: we are counting down to the start of trade in tokyo and seoul. he honda heavy -- -- they traded more than 900 billion dollars in their ipo, the fifth-largest listing in seoul last year. samsung says a report that the company is reviewing measures to separate the battery unit is not true. over in japan, another report from them this time, saying that the bank is seeking shareholder approval to reduce measures against a surprise takeover bid. need pond see planning to sell ¥500 billion -- ¥300 million in convertible bonds to raise capex and r&d. we are watching them at the open and the tokyo marathons scheduled for october 17 will be canceled this year due to the covid spread according to nhk's already being postponed. paul: the former japanese minister says she plans to run to succeed yoshihide suga. she seeks to become the country's

so to those reluctant to say it's about china, it is all about china. it's all about resenting a democratic alternative to the countries of the indo pacific that they can do things in a different way. shery: how successfully our western countries starting to build alliances to deter china's influence in the region? peter: they have been slow. i think this has taken some years for the democracies to realize they need to organize together to present a stronger front. but we are now getting on with that and i think a strong military alliance and democracies looking at a wider agenda of cooperation, these are two very positive developments which says to the indo pacific that there is an alternative, you don't have to subordinate yourself to the priorities of the chinese calmest party. haidi: australia has suffered for sticking its neck out at the start of the pandemic in suffering the wrath of beijing. does this give them a bit more muscle in terms of having a stronger alliance within the playground and, is it worth it, given the furor over the nuclear subm

china slowing from video games with the market. china holding $72 a barrel. it finished unchanged in the new york session. 312 million barrels. again the u.s. retail numbers are pretty strong. unexpectedly jumping. we had internet sales, general merchandise, furniture driving the gains but of course we are headed toward a quadruple retching -- witching with more volatility. we're talking about expirations. we could see volumes coming back september. we are seeing 1% declines for the s&p 500. traditionally not a great month for equity markets. paul: we had an interesting development in hong kong deck -- equities. tencent declining .5% but that makes its microcap 556 billion dollars. that is enough to push it out. top 10 local stopped -- global stocks. tencent ranked number 11 behind nvidia. dominated by u.s. tech stocks. that is the first time no chinese stocks in the top 10 since 2017. shery-ahn: given that alibaba fell out, is really the headlines out of china affecting everything. best scrutiny not only in the tech sector but also the prtykets. we have seen

largest— china have remained, china remains australia's largest trading _ china have remained, china remains australia's largest trading partner i australia's largest trading partner in support— australia's largest trading partner in support of— australia's largest trading partner in support of the _ australia's largest trading partner in support of the anxiety- australia's largest trading partner in support of the anxiety for- australia's largest trading partner| in support of the anxiety for some the australian— in support of the anxiety for some the australian economy _ in support of the anxiety for some the australian economy is - in support of the anxiety for some the australian economy is so - in support of the anxiety for some . the australian economy is so heavily reliaht oh— the australian economy is so heavily reliant on china, _ the australian economy is so heavily reliant on china, but _ the australian economy is so heavily reliant on china, but as _ the australian economy is so heavily reliant on china, but as security - reliant on china, but as security is so he

the main reason for the alliance containing china we spoke in detail about china's di stabilizing activities in beijing efforts to course and intimidate other countries. contrary to establish rules and norms, we will remain clear eyed and review a beijing's efforts to undermine the established international order. we discussed the competition of china at a number of levels that requires us to respond and to increase resilience. this does not mean that there are not constructive areas for engagement with china straight. it continues to sake dialogue with china without pre conditions. not surprisingly, beijing condemned both the alliance and the submarine deals war war. lee, who attended the exports of highly sensitive nuclear power, sibling technology by the united states and britain to australia, once again proves that they are using nuclear exports as a tool of geopolitical games. on adopting double standards, which is extremely irresponsible which entities in washington journalists, pummeled the ministers with questions about the security pack. is check in china's efforts worth offending i

it was part of a china, it was returned to china. and when you have a years worth of riots in the street, which are being heralded by the united states by britain, no one says any words about it, there's just kind of tough. tough isn't a terrible candidate. so you know, you, you want to put a rosy face on this thing and say that somehow these people, but is it a coincidence that to batch taiwan, hong kong sion, john south china seas. these are all areas literally surrounding china, which are being used to attack it. and this is what you have in china. china is retreating and you're getting the exact opposite of what you were aiming at by attacking it. china is in fact being more defensive and big. why? because us and everybody else says that china is terrible. you cannot deny the daily drumbeat of nonsense that comes out of the press there. where is the evidence hallway? where is the evidence? i mean, all the evidence was passed by great britain, by germany, by everybody, but under pressure the united states, they all withdrew and sa

one is to send a message to china that if they keep being aggressive in the south china sea and, you know, taking over more and more of it, they're not, they're gonna confront, not just the united states, but the united kingdom and australia. it's also something that we did in the cold war when we had what we called and the united states, australia, and new zealand together to come back, what we saw the soviet expansionism in the, in the, in the region. so basically, i think this is to send a message in china, and i also think the timing is appropriate given what has just happened in afghanistan. people concerned about is the united states still going to be there? we need it. and the other thing is we supposedly did not check with our allies enough ganesh, than before we went out. this is a signal was still working with the british. are you still working with the british? perhaps the not the french, the french seem to be involved is just by the steel. it was 7, be friends working with the area to get these new submarines. do you think from a european mainland european perspective, th

it made millions of people homeowners in china. it's project sprang up in every province selling appointments, years before they were built. but in august of last year, the chinese government imposed new borrowing limits to crack down on debt and rain in and inflated property market. with the grown of ours pandemic pushing down sales, the heavily indebted firm began selling of assets at large discounts that further alarmed investors and since shares plunging. ah, let's introduce, i guess, in london we have garrath lever, senior economist and capital economics in beijing, vic to go check the best suited university and also vice president at the center for china and globalization. and in old orchard beach, that's a town and main of the us, adam hersh, visiting economist at the economic policy institute. very well, welcome to you all. let's start to make sense and beijing. mr. gow, how do you think this is going to play out? is ever grand destined to default? well, 1st of all, ever grants. problem right now is one of the biggest finan

but when it comes down to what i can get this point, china doesn't really care like china is going to do, which i don't want and they're big enough. and i think she didn't thing as a political well in the political enough consolidation of power to be able to make it happen. and i think that that's generally where they're at right now. william young, a lot of the activists that you speak to a lot of the people you speak to in your course in your daily course of journalism, must be very concerned. the china simply is getting away with whatever at once. and grandpa, she is actually basically just doing whatever he wants to do. is that a concern for them? the voice is radical. voices dissenting voices are just becoming lost. right. i think this is already a fact that we are seeing over the last few years, especially i think, after even hong kong becomes one of the biggest target for the crackdown and the extreme level of the measures that china is willing to impose on hong kong, bypassing all the existing system that are supposed to exist under the one country to system. i think those who

but you know, you look at what china is doing china and not necessarily courting hollywood. in fact, it's difficult. you know, if you're the american producer, there's only so many films that are allowed in china each year. so the chinese are more interested if you ask me logically and financially speaking and controlling the narratives. right. that's why when it comes to allowing up american films in and we've seen in the past with complaints from hollywood studios that both back and forth. and the chinese basically, chinese saying that they're being misrepresented in hollywood found in the hollywood studios. not wanting to necessarily change things, but also being forced to change things in the movies to, to, to like a, china. so when you say like the chinese need netflix from their perspective, they're the 2nd largest box office or potentially the biggest box option at the moment. they don't see any need for american films. in fact, they're, they're making, they're producing so much and they give somebody films the biggest films in china or chinese films now. so we're not

there are issues between china and the u.k., china and the u.s., china and regional countries. we have the south china sea, we have global issues with china, and what they have done to the uighurs in western china. we see chinese influence in international institutions with the who, the wto. the question is, how do we deal with china? can we do a better job shaping their rise so it is within this international rules-based order that we set up in the wake of world war ii? china seems to want to upset it and craft it in its own image. to me, what we are both saying is the challenge with china and beijing. >> i was looking recently at some speech president xi had given. this question of the multilateral institutions and rules-based international order, their thinking as they were not there when they were being set up, so why should they abide by those rules? it is so difficult. a single party state is a completely different entity than the united kingdom or the united states or our democratic allies. i sometimes take the view that economic growth in china will be accompanied by de

. >> china seems to be gaining background. their sales are roughly flat in china. they beat consistent -- consensus estimates. the shortfall we saw in fiscal q1 was in india where we believe it was due to not having enough supply. shery: senior e-commerce and retail analyst poonam goyal with the latest on nike. be sure to tune in to bloomberg radio to hear more from the day's big newsmakers and get in-depth analysis from the daybreak team. now broadcasting live from our studio in hong kong. listen via the app, radio plus, or bloombergradio.com. plenty more ahead. stay with us. ♪ >> emphasizing different environmental issues and what that means in a different geological and local context and we want to prove that. it is not some altruistic philanthropic work. we want to reveal that after our investment because of our work, we transfer this company into creating more impact with quantitative data, yes. paul: that was the sylvan group managing partner speaking there. you can watch more from his interview with bloomberg's has linda on and on the new season of generat

china is very bitter- towards australia, and most view china's behaviour. as unreasonable and that australia's defences are justified here. . are there tensions within the region? this is a really fascinating relationship to watch. - new zealand has taken a very different course | to australia on china. new zealand is part of this . intelligence sharing network. the three countries that contribute are| australia, the uk and us. no coincidence! canada and new zealand are largely considered i the freeloaders of the five. what has angered australia is jacinda ardern's public. posture, where she was seen to undermine australia - when china was retaliating with these trade sanctions| after the who inquiry bust—up. there is anger- towards new zealand. they are seen as riding i on australia's coat—tails. australia would defend new zealand if there . was a security issue. on the other hand, that relationship is so close, it is like family. you can bicker, you can have a disagreement. l we know australia is - a partner with new zealand. there's nothing long—lasting. or damaging, but it is notable

what would a collapse of this company mean for china and the world? this is inside story. ♪ hello and welcome to the program. fears that one of china's biggest property developers could default on its debt are rippling through global markets. the vast group has outstanding debts of more than $300 billion. building work has stopped and several investors have stopped getting paid. the company entered a 30 day grace type to make an $83 million interest payment after missing a deadline. the default of such a large company would be unprecedented for china and could send the country's outsized real estate market into freefall. it has been compared to the collapse of the lehman brothers group in the u.s., preceding the 2008 financial crisis. their financial troubles are rooted in two of huge borrowing. the company took out several loans to rapidly grow its real estate portfolio and expand into other sectors. it made millions of people homeowners in china. the project sprang up in every province. in august of last year, the chinese government imposed new bo

blinken was embarrassed by china in alaska so john kerry is running our china policy. that should terrify every american. >> our nations brought together important progress on a range of global issues including a landmark agreement on climate change in paris last year. we worked very closely together on the joint comprehensive plan of action on iran's nuclear program. >> there is no u.s. strategy to push back against or be in conflict with china. >> laura: remember when kerry visited china earlier this month. senior officials would not even dig ify my -- dignify him with a meeting in person. it was on zoom after he went all the way over. there he returned from that trip apologizing more than before. >> there are other things as well. what is the process by which one trades off climate against human rights? >> well, life is always full of tough choices. the relationship between nations. >> laura: the choice of standing up for human rights is tough for kerry because of the leverage they have over his family. his wife is heavily invested in china through her family trust.

edit has put pressure on china and its officials but when it comes down to it, china doesn't care. they are big enough and i think xi jinping has the political will and enough consolidation of power to make it happen, and that is where they are at right now. >> a lot of the activists that you speak to must be very concerned that china is getting away with whatever it wants and grandpa xi jinping is doing whatever he wants. is that a concern for them that radical voices are becoming lost? >> i think this is a fact we are already seeing over the last few years, especially after hong kong becomes one of the biggest targets for that crackdown, and the extreme level of measures that china is willing to impose on hong kong, bypassing the system that is supposed to exist under the one country, two system. those inside china who have been experiencing this heavy-handed treatment since the early 90's, they are basically pessimistic about how the outside world has any influence and leverage to lessen some of the struggles that they are facing. we are seeing different injustice being imposed.

china benefits from that. i would say the trade balance at the moment may not last much longer given that we are expecting exports to weaken somewhat and actually on the import side, the import at the moment, the commodity prices are too high and we are still seeing that as an impact to each into china in terms of trade. haslinda: i want to take a look at the yuan. it has shifted from depreciate -- from appreciation to depreciation. where do you see the yuan headed from here? >> in our view, we think the yuan is going to be under some pressure given that we are expecting more easing from the policy authorities in china. if you are looking at the u.s., the fed is not in a hurry to taper but ultimately we are expecting them to go on a tightening trend. in terms of china, we think the relative time this in a terms of monetary policy if we compare those from the pboc versus the fed, that will tell us china is going to ease a bit more relative to the u.s.. therefore, we are expecting the u.s. dollar cny to actually

china, minorities are brutalized in china. why is the left cozying up to china? >> that is a good question and contrast behavior with the russians, one of them is because it still has allegiance to communism or statism or totalitarianism, the only major country in the world that says it is communist or leftist. all the others are either minor or bankrupt, china even though it is probably hyper capitalist crony capitalism in many ways the left likes the idea of mouth, advisor to obama said mao is a hero, they admire that and i will be frank in this era by identity politics they see china as part of the other so that it suffers from racism because it is - laura: so the bottom line is because we are evil, because we are evil, they believe america is evil, anyone but america especially a country that can control all these choices like you can't just travel where you want to do what you want, your watched, surveilled and they keep everything in order. >> it is of for next into the manifestation of the other at home, the left-wing o

he didn't mention china specifically. he didn't say the word china. he did mention -- he did not call out china specifically. but the message was clear. we want to really display a difference between what the u.s. is pursuing and what china is pursuing and to try to get nations around the world to take the u.s. seriously again from a -- from a foreign policy perspective. haidi: what is the rhetoric we hear when it comes to a coordinated effort in so far that we haven't seen before to get the world vaccinated? >> right. so tomorrow there will be a vaccination summit that biden will also participate in. and we have reported that the u.s. has pledged to increase the amount of veerches that it -- vaccines that it sends around the world. the shushes has sent the most amount of vaccines around the world and cystsized for vaccines that lay waste because there aren't enough people who want it in the united states. whereas there's countries around the world still clamoring for it. and so what we're expecting tomorrow to see is a real commitment by the united s

australia and china remain... china remains australia's i largest trading partner and this is part of the anxiety. the australian economy - is so heavily reliant on china, but its security and its safety and defece posture - is so heavily reliant . on the united states, china's strategic competitor. australia for the last decade i or so has found an increasingly aggressive and confrontationalj china, and ever since australia came out and asked for- a who inquiry into the origins of coronavirus, china has i sought to make an example of australia and punish australia with billions i of dollars in trade tariffs, just unilaterally slapped i on wine, barley, l coal, you name it. for the moment, the australian economy is propped up- by iron ore sales to china. should and when that end, australia will find itself - in a very precarious position economicallv _ they know that, defensively, their future is with _ the united states. that's what this - submarine deal is about. latika making a very interesting point about the

host: you mentioned china. many voices within the administration saying this is not about china, but a lot of the reporting says it was. i want to play some comments from the defense secretary that he made wednesday about the agreement. his perspective and then we will get yours. [video clip] >> this is not aimed at anything or anyone. the intent here is to help improve our trilateral cooperation and our cockle -- and our capabilities across the board. the first step is to focus on helping australia acquire a nuclear powered submarine capability, and we are going to work on that going forward and that's exciting and it is exciting because it will provide australia additional flexibility and capability and i think will be very beneficial to all of us going forward. but we will continue to explore many of the things that you just mentioned in terms of greater and more frequent engagement, air capabilities, more training opportunities for ground forces, and increasing our logistical footprint and australia as well

it is china, china, china. new york, this is bloomberg. >> this is bloomberg real yield, and it is time for the auction block. sales are fluctuating with voluntarily. news is falling short of estimates. we had two active sessions throughout this week. it was a different story in the bull market, registering its biggest market since august. chinese firms were rushing back into the credit markets with dollar bonds to close out. china has been the big story for much of the week, and ever grand is taking everyone's attention at the start of the week. the china-based asset management had to say about china's growth model. take a listen. >> if we accepted this growth, foreign investors and commodity firms would grow, but china is slowing its growth to improve its growth. it is building up debt and capital. suddenly a has nonproductive uses. it is extremely important for china, and that his wife are doing it right now. the true riskier -- risk here has not gotten a memo to investors. i want to come to you on this, lis

against china. that was the case brought by the philippines and then we have no other countries in the region, vietnam, malaysia, all of which also threatened as a china to the world court. so that's the problem the china has with it with its neighbors. and then of course, there is the big 900 pound gorilla in the road, which is the origin zip code. and you know, millions upon millions of people have died all over the world. trillions upon trillions of trillions of economic value has been destroyed and then needs to be some sort of a proper inquiry about. then he said chime in response to the phone or silly, silly accusations against other states. and there's no help the rest of the world which has an right to find out about the origin. yeah, that's my job to get to the bottom of george and i've talked many, many times about this. it looks like the by the ministration is not particularly interested in finding out about that here, joe, let me go back to you. i mean, i'm, this is not an ideological st

china evergrande

i think if you want right on china, gambling and plans in china, what could be better? liz: thank you, my friend. we will see you next time. there is the closing bell for this friday and for the week. green on the green. kudlow is next. ♪♪ larry: hello, welcome to kudlow, i am larry kudlow. earlier today president biden told us everything and massive spending plan is paid for. really? are you sure, mr. president? will have to dig in a bit on that. first, the size of the spending plan is not 3.5 trillion. scored by the cbo on a ten year basis, it's going to be at least four and aal

more of anything outside of china. that is the real shift. when i talk to policymakers in washington they are still thinking about aggressive cold war mentality with a china that is trying to take over the world. increasingly china's problems are domestic. tom: i would love to get you in robert kaplan on on the south china sea. ian: that would be fun. tom: ian bremmer with eurasia group. we have to sum up the morning. what is your town into the market opening? lisa: there is a much story about an markets are not worrying. that -- there is so much to worry about an markets are not reaching -- markets are not worrying. we got a bank of a good decision talking about when they could start tightening policy. we got negative initial jobless claims. more initial jobless claims than expected. all of that shrugged off. then there is the evergr ande story. you put this all together and there is no movement in markets. tom: i'm trying to get a translation in greek. my greek is failing me. out of left field, doesn't every cfo say

the reason for the alliance is china. >> we spoke in detail about china's de-stabling -- destabilizing activities. we will remain clear i'd in our view of beijing's efforts to undermine the established international order. >> we have discussed china at a number of levels that requires us to respond and recruit -- increase resilience. that does not mean there is not constructive areas of engagement with china. >> not surprisingly, beijing condemned both the alliance and the summary deal. >> the exports of highly sensitive nuclear powered submarine technology from the united states into australia once again proves that they're are using nuclear exports as a means for geopolitical gains. it is double standard. >> in washington they were pummeled with questions about the scaredy package. >> this is about enhancing our cooperation, our work together, ultimately about enhancing security and stability in the indo pacific and it is not aimed any country. it is certainly not aimed at holding them back. >> the announcement of this new alliance could signal that the u.s. president joe biden is ac

minors were in china. and even though they've all moved out and their physical location isn't in china, the biggest mining pools are still chinese. so i think it's safe to say that no one in china is taking these bands seriously, or at least they're finding a very clever way around it. and once again, that's the beautiful thing about big coin. you can't ban it, it's peer to peer. so if you have a willing and able counter party to trade it, you don't need to go through a financial institution of payment company or any other middle man. in fact, by doing this, china is actually proving bitcoin capabilities the way it was really design and meant to be used to actually instilling better habits than people here in the us who are still reliant on the convenience of things. i coin base pay power, robin hood. yeah, maybe maybe they're going and all of those announcements about the crackdown to think that eventually people will start listening if they just get to the 20th or the 30th time around and it continues to

it is a city that is very important to china. it is where most of its companies raise money and a lot of foreign capital. it keeps flooding into hong kong. this is a success story any way you cut it for beijing in terms of capital flow. we're watching for any science of capital outflow. no signs yet. the hong kong dollar is very strong. the money coming into equity funds. this is a city where if you're talking about inequality, this is evident here. it was one of the things that we blamed for the protests that started in 2019. the extreme inequality here and you're talking about property, property is so expensive here. hong kong regularly tops the lists of the world's most unaffordable cities. if you're rolling out a common prosperity campaign in china, how will this play out in hong kong and what does it mean for property tycoons in the city? tom: it is a key issue isn't it? in hong kong and mainland china. investors are trying to find some transparency on in with clarity. is there a theme this invest coster hold onto? you have

in china. economy are going to find themselves under water just as china is trying to make the transition from investment lay growth to consumption like growth. just as china is trying to launch a new campaign for common prosperity in the run up to. she's infection mentioned at the 20th party congress. there's going to be a tremendous amount of political pressure. i want to pause with. i want to see there, we will come back and talk about presentation things, push for common prosperity a little later. but before that, i'd like to come back to you to go. it's been reported that in a way this could have been foreseen. people reports that china, in essence has 2 property markets, one and major cities where prices is right. prices are rising another in smaller cities where over supply has led to downward pressure and that perhaps ever grand should have foreseen this. do you see it that way? could this have been foreseen? well, if you talk to different property developers in china, then they have so

bank and china merchants bank. these are very high quality banks and city commercial banks. among a-share banks, are top picks -- are relatively safer one being a-share because we expected to be more affected by the global funds inflows. things like that. rishaad: thank you so much. shuijin chen financial research analyst for jeffrey's. -- jeffries. let's take a look at the latest numbers. bill gates taking control of the four seasons hotel chain. a bet to the hobbled luxury travel industry to rebound from the pandemic. he agreed to acquire a stake a saudi prince. and kingdom holdings. gates will pay $2.2 billion in cash. two boost to share to 71% -- to boost his share to 71%. bytedance had $4 billion in bank loans despite the crackdown on internet in china. it's also saying that tiktok's owner is in talks with several lender's first indicated loan -- a syndicated loan. david: the trial of elizabeth holmes is officially begun. holmes facing federal charges of defrauding patients and investors with claims of revolut

all because of china. the reality of it is, if us went up against china right now, is the u. k. and the australia, are they strong enough to throw those 3 countries strong enough to actually be fighting force against china in the long term? well, i think a war would be mutually destruct. i mean, you know, the u. s. has tremendous military capabilities. china is really developing huge military arsenal. it's developing it's new nuclear weapon capability. so i think, oh, hot or would be suicidal for everybody involved. and savvy, you know, the one country that i think could actually stay in the middle and make sure that it didn't happen, continues to be demonized by most of the country for political purposes and time. and time again is proven to be false. the accusation, i guess people are just watch the hunt for red october 1 to many times. great movie . not necessarily based in the current status of reality. thank you so much for joining me. speaking of what is going on in china excerpt from a new book written by bob woodward and bob cost reveals how general milly took actions to

china has sent a china as the west sees it? china has spent a great _ china as the west sees it? china has spent a great deal _ china as the west sees it? china has spent a great deal is _ china as the west sees it? china has spent a great deal is building - china as the west sees it? china has spent a great deal is building up - spent a great deal is building up its armed forces recently including its armed forces recently including its maritime armed forces, which is a relatively new development for china so from the acquisition of the second planned aircraft carrier to a substantial submarine fleet, and the militarisation of the south china sea and the steady acquisition of port facilities across the pacific, this presents a profile of a country that has a greatly increased capacity, and even if that capacity is not intended to be aggressive, it has given china the capacity to deny access, essentially, to other forces, because it poses a real threat, even to the us navy, which hitherto has been the most powerful in the world, and may still be but is nevertheless threatened by