China, United States, CEO discussed on Bloomberg Daybreak: Asia


Very much. Getting first reports out of South Korea confirmation of 26 more. Corona virus cases Day today. 26 more Hong Kong's chief executive Carrie Lam says the current surge of cases is severe, with no sign that it's under control because of concern over community, Serge Hong Kong's reported on daily record 108 infections of Copan 19 and is expanding some restrictions. Residents in Melbourne now face a fine of 140 U. S. Bucks if they're caught not wearing facemasks. Australia's budget will show the biggest budget blowout since World War Two stimulus for virus help US virus cases have risen 2.2% day today, above the 1.9 daily average last week. Los Angeles Mayor Eric Garcetti is warning that the city is on the brink of another stay home order. California New CASE Accelerate pace of death slowed in Arizona and Florida, while Florida congresswoman Donna Shalala Says that Miami should be shut down and Donald Trump on Fox says the U. S. Has the best mortality rate in the world without citing any data in San Francisco. I met Baxter. This is Bloomberg. Juliet. Thank you. And let's get back to the Hall of hot CEO at Mira Asset Global Investments discussing the latest on the markets from Hong Kong you mentioned there Europe We have the you laters deadlocked over this recovery fund. How much of a downward move disease have on some of the European assets like the euro lack bay Teepees in this environment where we were thinking European stocks? At least we're going to probably do better than the US in the second half. A lot of the market moves that are contingent on policies like doing the right thing. That's what once once defended the policy Hispanic late March the market spot. On DH. If you look at the evidence off the docks, which are happening in the union on, so it's more a question off known was his grand out of that 7 50 billion portion. So hopeful defenses that look, the policy makers realized that it's important. A lot of these decisions cannot people strong. They're away on DH. Hopefully, in coming days we get out of here or there and then you get clarity on some some us relief. But look, markets have done way like the way we were discussing earlier. More be replaced as he saw the score beneficiaries which have run hard means that up anywhere between 50 to 75 nothing blue stain 15% correction. And then as you get clarity On kind of walking on the economic data pigs in bullying people living with writers and hopefully being dogs off some vaccine from the Oxford Research into some beautiful clarity on vaccines in coming months. We see markets looking up from there. Well, I'm here is to get your take on the story that we had earlier where the Japanese government is going to begin paying some domestic companies to move production out of China and back home in one case in another to move out of the mainland into other countries across South East Asia. It seems like there's a lot of emphasis here being placed on a reduction independence where manufacturing in China is concerned. Now, some of this may be related to what we're seeing during the pandemic. But I'm just wondering whether or not you expect Maur supply chains that have been focused on the mainland to be reconfigured away from China. Look, Look at the genesis of this. I would not be supplied to China once when China joined W at the time. Janet Jones officiate. Avoid world explodes, wants to a person. As we talk. Now, that number's got 17 18 China comes for 60 to 80% off most luggage, So some of this obviously is going to get reconfigured the Douglas owes from organic locations, so it's closer to home. But all this is for five years from process. It's not gonna happen immediately. And the very fact that China's record well compared to other countries is back on the feet in terms of the sourcing manufacturing much faster than anybody else. This kind of a big business process, But this process is inevitable. But it's not gonna be like human this shift as we gaze offending. It's gonna be a slow shit that's happened in the next five years. I promised our perspective. What they're doing is among some of the ship which is gonna happen. What they are doing is boosting the service, part of the economy, domestic production and everything. Temps of getting back on the fate. I'm curious that you say you expect travel and tourism, perhaps from October to pick up. That kind of seems perhaps a little early, given the 2nd 3rd Waves were saying, We've got the big airlines reporting earnings this week. You know, this is a huge area that we're looking at in terms of recovery in the oil market to talk me through. Why you sort of thinking perhaps October 4th quarter. We see a pickup here. Okay, so that's more from a domestic tourism. That's more from a level above perspective across on cross border tourism is gonna take a while, but I didn't cross border daughters and pick up them that we have not vaccination makes because we've seen that's what it keeps coming back for more from again domestic tourism as eyes I've seen back in tonight we could get more confident. And as people kind of get used to another economy, people recover from this. That is not a pick up. But look, what we're talking is picked up from a very little little so it will take awhile before nominations. Yeah, because I think even some of those other travel bubbles that were being looked at as being pushed out as well. But we will see Rojo. Thank you so much for Ho Chun ha from Hong Kong CEO at Mary Acid Global Investments on.

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