US, Bloomberg and Taiwan discussed on Bloomberg Best
All this and more coming up in, the next hour. Of Bloomberg best I'm Doug krizner at Bloomberg world headquarters in New York let's check this hour's top. Business stories and the markets US airlines are planning to. Comply with. A demand from the Chinese government it wants carriers to identify Taiwan to reflect China's claim on the island territory we are told you. As carriers affected by the mandate include American delta United continental, and Hawaiian holdings and they will begin. We are told to change their Taiwan. Reference, over the next day or two Facebook is trying to open a center in China to support local startups even though the company's apps and websites are still blocked in China you might remember earlier this month Facebook set. Up a Chinese subsidiary Facebook technology it registered capital of thirty million. Dollars according to a filing after the bell here in the states AT and t., reported disappointing results in its first earnings reports since closing on the Time Warner deal there was weakness in eight AT, and t. entertainment group that includes direct TV this as a result of cord cutting and consumers moving. To internet video. The revenue number missed estimates AT and t. shares were. Down one percent in late US trading. Called palms deal to a by an XP semiconductor expires on Wednesday the agreement does then. The companies are waiting approval from regulators in China we are told a delegation. Of Qualcomm executives are in last minute discussions with Chinese, officials we check, markets every fifteen minutes here, on Bloomberg we're seeing. A little bit of pullback in the end vis-a-vis the dollar here at one. Eleven twenty five the Nikkei two twenty five is higher by one half. Of one percent hang sang eight tenths of one percent the Shanghai. Composite is a head less than, one tenth of one percent the, kospi is. Down one tenth of one percent and the ASX two hundred weaker by two tenths of one percent global news twenty four hours a day on air and a. Tick tock on Twitter powered by more. Than twenty seven hundred journal List and analyst this is Bloomberg a combination of protectionist economic policies a new Chinese initiatives are reshaping, the economic world for more on this regime Bloomberg's Tom Keene and Jonathan. Farrow spoke with Abby Joseph Cohen and advisory director and senior investment strategist at Goldman Sachs. I guess we've gotta talk about vanilla equity investment. How do you respond when you see the gloom articles they seem to peak Friday about seven, PM but. You've spent decades in cycles of doom and gloom are the doom and. Gloom articles, on a given Friday now. Different than they were other eras I think that we're seeing increased concern. Tom and it's appropriate in terms of where the United States in the world are heading in terms of Ideo political. Alliances and, also in terms of the trade picture we have taken for granted since the nineteen fifties at the United States would Dominate in. So many different areas we. Were by far the. Strongest economy the other, economies of Europe in Japan had been devastated by. The second World War and now we have real competition on the economic front. And, that comes from China and quite frankly they are playing a long game everybody focuses on how they're doing this, quarter this year they are making long-term investments not. Just in terms of? Their own economy but in terms, of their long-term trade and political relationships their, version of the Asian Development Bank in which they're providing significant funding for infrastructure in Asia and throughout the world is the equivalent of the Marshall plan. Which gave the United States an enormous advantage, in terms of global trade focused on Europe I in the fifties and sixties and so I think there are real. Concerns when I take a look at the, equity market per se I always start with valuation the valuation is okay if If inflation and interest rates do what we think, and most importantly earnings continue to pop as they seem to be doing and real GDP seemed so strong this quarter obviously equity investors are going to. Feel good however as I look. Out into two thousand nineteen I think we're going to be seeing slower growth for example SNP earnings this. Year up twenty percent next. Year six or seven. Percent John this is single digit. Abby this is and this is a, slowdown as well in GDP and what I worry about is that if, valuation is currently fair there's not much..