Biden Administration, U.S., Ukraine discussed on Bloomberg Daybreak Asia


Well the Biden administration has been in full clarification mode today on comments about the Ukraine invasion at Baxter has global news in the 9 60 news from bed Yeah Brian exactly The president vice president Secretary of State trying to clarify what the president said yesterday about in his words a limited Russian invasion of Ukraine I've been absolutely clear with president Putin He has no misunderstanding If any any assembled Russian units move across the Ukrainian border that is an invasion Which he says will bring severe consequences which is what he had been saying all along until yesterday Ukraine's president Vladimir zelensky has spoken directly to his people saying there is no such thing as a minor incursion and that any crossing is an invasion and saying that the U.S. understands that We know there's a potential war threat We are ready for it But we are doing our best to our preparedness would not be needed We are doing our best to find a diplomatic solution We are doing our best for peace in Ukraine And says the job of the population is not to panic U.S. has sanctioned three groups in China for engaging in missile technology proliferation China aerospace science and technology corporation the first academy and academy for and Polytech technologies incorporated And the Biden administration says it is monitoring real-time data about whether oma cron in China is posing a risk of U.S. and global supply chains It says it is too early to tell whether there will be an impact on the global economy Hey how about some better COVID news Maryland governor Larry Hogan says trending in all categories in his state Maryland is getting better is going down All of the current data is showing very encouraging trends with many of our key health metrics consistently and substantially declining And now checking the Bloomberg virus tracker up on the terminal cases in the U.S. overall did increase day to today by 1.5% The largest increase Tennessee at 7.3 followed by Nevada 6 5 Oklahoma 6 one in Michigan and 6 O European center for disease prevention and control is advising countries to transition to more routine handling of COVID-19 after the surge is over It is advising to treat it not as an emergency but as a disease that has to be dealt with U.S. Secretary of State Anthony blinken says time is running out on the U.S. ability or intention to reenter the Iran nuclear deal If a deal is not reached in the coming weeks Iran's ongoing nuclear advances which resumed after we withdrew from the agreement will make it impossible for us to return to the JCPOA So the U.S. setting up deadlines now and China is saying that it warned away U.S. warship in the South China Sea the U.S. has denied it It was off the paracel islands a U.S. Navy denying U.S. as a ship was in the area but just part of the mission in the region to defend freedom of navigation In San Francisco I met Baxter This is Bloomberg Brian Hey thanks very much 8 minutes past the hour Let's get to our guest Brett mcgonagall chairman and CEO of capital link Brett we had a big rally in the Hong Kong and China markets yesterday It seems to be about more than just the rate cuts Do you see those cuts as some sort of indicator that policy conditions will loosen across the board like for instance with regulation Yes I do I think that the PBOC is trying to send a very clear message that they are there and their supportive of the market They are cognizant of what's going on They're trying to spur demand across the spectrum You've had surprise cut earlier this week I guess made yesterday is not a surprise But you've had MLP and you've had LDR So you've got these two levels levers that they're pulling right now Triple our probably comes next I don't think the cuts were huge in nature but I think it's very symbolic of policy and where they're focused Certainly Brett it's easy to say that yeah it's a show of where the policy is going but those cuts work minute They're not going to move the dial shortly Does that tell us that perhaps it's not as bad as all that or that they're getting it all wrong that the PBOC No actually I think it's either I think in a sense I don't think that I think that things are I don't think they're dire but I think that they're worse than what the cuts the size of the cuts would symbolize I don't think they're getting it wrong in the sense I think that they've been very pragmatic The PBOC has become very adept at communicating with the market And I think that that's what they're doing right now From for a long period of time there was not great communication It's been much better And they're sending a signal I think those steps things up But I think that it's gradual It's the nature of how they move They don't normally move too fast too too large But you could have many of these cuts and I think we'll see it through certainly Olympics in NPC We know the PBOC Brett just takes orders from the party elites just like everybody else in China That's why I ask whether or not it's across the board But then you have to counter that with that Reuters report about the crackdown on tech The party denied it but then we got Xinhua came out and said that China will curb the influence of tech companies on governments This is more bad news for tech companies It certainly is I think that look the PBOC is of the G 20 the PBOC is the only Central Bank that's not separate from the government So clearly there are communication lines that are a lot tighter than in other global countries or other countries across the globe However we have seen those lines blurred in many different places So yes there is a symbol that's coming from not only the party but the PBOC But the other symbol as you referred to in tech is that these companies became too big and too powerful.

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