20 Burst results for "Chongqing"
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Rashford scoring a brace, giving the 25 year old goals at 8 straight home games for the Red Devils. In the other quarterfinal match, Newcastle scoring two second half goals they knock off Lester city to nil the semifinal draw is going to be held Wednesday. In Italy Inter Milan reached through the quarterfinals of Copa d'italia two to one win over Parma. Minnesota Twins finalized a 6 year $200 million deal with shortstop Carlos Correa after talks between the two time all star in the New York mets broke down over contract language due to failed physical. I'm Dan Schwartzman this is Bloomberg. Bloomberg opinion informed perspectives and expert data driven commentary on breaking news. It is 8 45 p.m. on Wall Street time to check in with Bloomberg opinion. We are joined by opinion columnist Clara Ferrera Marquez, who has been writing about some of the aftershocks that might arise as China emerges from its COVID zero policy. What would some of those aftershocks be Clara? The column is that there is a lot of attention now on the return to normal we're looking at traffic data. You look at subway data. It's certainly from some of the big cities not all certainly Beijing, Guangzhou, Chongqing, you can really see a return to traffic levels. You return to economic levels, we're seeing that in commodity markets as well. But really what we're talking about here is that when you have an earthquake of this dimension policy whiplash like this, there are long-term consequences, economic political, social geopolitical, to give you an example in terms of geopolitical ties a lot of trying to soft power is really, especially in the emerging world, leans very heavily on its governance capacity and of sufficiency and its economic model and really the last the last few weeks have shown a country that is really struggling with the ultimate governance test. It's really interesting Kara because any country that has been through this, I feel like it's government took a hit for some reason or other, including the United States government. But in China, it seems way worse. It's because China waited longer? I don't know that it's worse. I think really COVID is unforgiving. It highlighted the weaknesses of every single government. Mercilessly. And I think obviously the U.S., if you look at mister European countries, it's the same India and obviously now China. And I think what matters is really to take away from this is exactly what those weaknesses are. One of them is the capacity of the bureaucracy and what we really we saw before and before COVID, the model of the Chinese bureaucracy was in bureaucrats were incentivized to make things work. Now increasingly it's a highly centralized system focused on one man no matter what so it's completely unable to multitask finds it very difficult to calibrate. Ultimately coming out of a system like COVID zero is all about calibration and they haven't managed that. And that's bad news really when we think about the big challenges ahead, whether that's the green transition relations with the U.S., Taiwan. I mean, these are very difficult to implement. But just to jump back in, you have to wonder if president Xi Jinping wasn't wrong footed a little bit with the demonstrations. I mean, there was the suggestion that we would see China reopening from April and then suddenly it all happened all at once. Was that on purpose, Tara? Well, it's very hard to say, obviously, we can't really know what goes on behind the walls of John and I, but I think it would be wrong to assume that it started just because of the protest. I mean, these decisions in a system like China's take a very long time. It's likely that they were already in train. They probably were, however, accelerated by the process at the end of November really unprecedented street protests. And I think what's important is what it looks like from the eyes of the citizens if you think about it from the eyes of those protesting what they saw is that they protested and it achieved a result almost too effectively. We heard a lot of views on this program, as you might imagine, and talking to 12 to 15 people a day. And some of the more unusual and interesting thoughts were that the World Cup played a very big role in this. And I've checked with a lot of people who have been in China. He said people were really, truly amazed, watching full stadiums with people and cheering and hugging each other and no masks and that it did have an impact on people. And then there was also the theory that the economy really dropped off a cliff in November. And then you had the protests. And so there were a lot of different factors at play. But I thought Bonnie's point was very good because it does remind us that this is the Communist Party. And this is a party that puts political goals first. And so we might be seeing this as well with the reopening of the economy. Is that something to fear Clara, that they go back on some of this reopening? I don't think they will go back on the rearview very difficult for them to do at this point, but I think what isn't. Well, what about the regulation? I think that's more my point. So I think that that is a very important one. And I think going forward, as the system ages, remember, we're also dealing with a Chinese system that is aging. This is the first time we've had somebody in power for as long in a post mile, obviously, as long as Xi Jinping has been and the longer these systems go on, the more they put politics first, the more they become ideologically driven and driven by nationalism. And so we saw that with the tech crackdowns, for example, were likely to see that more in things like foreign policy, not putting the economics first for the moment the markets are certainly very optimistic, but I would say that that is a very significant threat for the future. Clara, thank you so much. A Bloomberg opinion columnist Clara Ferrera Marquez, you can read more on this and other stories from Bloomberg opinion at Bloomberg dot com slash opinion and
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"I'm Chris karashi. And I Brian Curtis in Hong Kong. Let's check this hour's top business stories and the markets. China says it will expand fiscal spending appropriately next year. It says it will use all of its policy tools, including expanding the fiscal deficit and special debt. Meantime, two big players in the global economy four 2023 will be the American and Chinese consumer. We ask Carol schleif, the CIO at BMO family office, if consumers will be a positive force in the new year. Consumer spending is obviously a vital part to the economy. It's two thirds of or more of the economy and consumers are feeling relatively good about that. But businesses too are going to be an important lift going forward in terms of capital expenditures and semi plants and things like that. Well, and if we look at the global economy, Chinese consumers even outnumber American consumers. The spending power is maybe not quite up there at par yet, but for sure, China has made a big change. How much does that increase the chance that growth expands in 2023? It could be huge, especially with them doing that right before the Chinese lunar new year to the extent that they free up travel insight and outside that country, even if people are putting COVID test restrictions on incoming, you've already seen a massive increase in the number of 20s trying to travel because that revenge spending that we saw the rest of the globe do over the last two years is all pent up in China yet. So you could see a lot of stabilization in emerging markets emanating from the Chinese restrictions being listened. Carol schleif, CIO at BMO, family office. Economic activity is rebounding in several Chinese cities where COVID infections have likely already peaked. The number of passengers using subways in Beijing, Chongqing, Chengdu and Wuhan rose 40 to 100% in the past week. It's a sign that residents in those areas are returning to work to shopping and restaurants. Once again. And Eddie guardini, president of yardeni research, says the bulls in the marketplace almost can not win. If the economy becomes too strong, the fed will keep raising interest rates if the opposite happens and recession hits, then almost no one wins. He spoke earlier on Bloomberg television. The key is that kind of narrow path where inflation comes down quite a bit more than is widely unexpected. That's the camp I'm in. He does expect a soft landing in the U.S. economy. Let's check the markets, the hansing index is up three quarters of 1%. The nikkei has advanced three tenths of 1% and the CSI 300 in China is up about two thirds of 1%. Global news, 24 hours a day, live and on Bloomberg quick take, brought to you by 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest sound on podcast, Pennsylvania congressman Brendan Boyle discusses the George Santos controversy and how GOP members are reacting. I think the real question here is what will Republican conference leader Kevin McCarthy do? He has been totally silent. Typically when although there is not really been a situation as dramatic, a fantasy, but in other instances in which you've had members of the House, they misbehaving. It's typically disciplined on your own side. You have seen a few congressional Republicans speak out stating the obvious that this is beyond the pale. It demands an investigation. Kevin McCarthy has been totally silent. Is he so desperate and craven to become speaker that he will just silently accept Santos vote and really not say anything about this complete fraud? Well, congressional leaders in the past have asked for ethics inquiries when issues of credibility like this have come up. If you had degraded Kevin McCarthy's response to this so far, what letter grade would you give him? Well, it's either an incomplete or an F, it's been completely nothing. He hasn't said one word. It's quite embarrassing, actually. And when you look at the Republican majority, it's very thin. It's the exact same slim majority that we Democrats have for the last few years. As you look into as you look ahead two years and you consider so many Republicans will be running, especially as first term members and challenging districts, I can't imagine they feel great about the fact that they have a Republican leader who can't even do the right thing and stand up and speak out against
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Which is supporting the interest rates or the dollar, if you will in the U.S., you're seeing the central banks around the world stronger. So that's where you're seeing the dollar below the 200 day moving average and even the 50 day moving average, which is on a technical basis. Yes, it's coming down. And it's actually a welcome sign for the globe, but at the same time, we still think that the U.S. is going to continue on the interest rate policy that could strengthen the dollar a little further from where it is. So I'm interested in your strategy and how you play this. You're sounding a little on the bearish side. Obviously, going into at least the first part of next year. What are some of your best ideas at the moment? Yeah, we're definitely, we've definitely been risk management philosophy for our clients for 2022. And we're going to continue that theme for 2023. And that's really the major theme. Essentially, you know, healthcare is going to be a good place because the cash flow, the dividends, consumer Staples, especially as you enter into a recession, not only here, but around the world. Those household products are important. We also believe that positive dividend growth, cash flow is king. And finally, it's all about strategic rebalancing. What we did for our clients and wealth management back in March and April of 20 20 is when the equity markets provided a tremendous opportunity. We rebalanced client portfolios to take advantage that we believe that could happen again in 2023 going forward and we're positioned for that. So in the short term, we're positioning treasuries because treasury yield on the short term yield curve is well over 4%. And then the large gaps. Robert, I want to talk about tag. Tag having its worst years since 2008 is trying to claw back some of those gains before the year ends. Big winners today way too for tag. Yeah, we like large cap tech. And that's the future if you look at three, 5, ten years. Yes, this last year hasn't been for large cap tech. What we own for our clients are the large established companies. Have cash, strong balance, and they can weather the storm and out on the other side of a recession. They get stronger. So we like that. Even though, yes, year to date, they're down 20 to 30% respectively. But they're the biggest largest companies, and they will prevail long-term. So we're strong believers in large cap tech, the company is that don't have strong balance sheets, don't have cash flow or sort of the IPO, the spec world for this year. We didn't invest in our clients for that. And we don't believe in that. So yeah, there's two different sort of markets in tech, but large cap tech is an opportunity moving forward. Okay, in the large cap tech space, let's talk about some of the different industries so you've got semiconductors. You've got cloud and you've got software. And then you've got obviously the sort of Internet companies and the ecommerce companies. Which ones do you like the most? You're like software cloud will continue. And then again, even the chips, even though we've seen a chip glut, you have to look at these valuations on these companies. Because they'll work through the inventories and keep in mind the equity markets price in well before the recession. So you want to sort of dollar cost average and take advantage of some of these categories within technology because by the time you say, okay, it's all clear to invest. That opportunity has passed. So we're dollar cost averaging. We like the softwares. We like some of the cloud computing. We like some of the even the cybersecurity, which got beat up this year. But there's some good opportunities out there. So we're picking and choosing our opportunities, but we have confidence long-term on the companies that we're picking up. Will you be picking and choosing Tesla? It's been caught up in a horrible route. Have we seen bottom? Tesla has been in a tornado of headlines. Long-term EV number one, they're going to continue. In fact, if you look at the scalability, they're just hitting their numbers. Now, obviously, China and in terms of COVID and potentially production and ability to meet the production numbers is what we're all waiting on. But yeah, we're taking advantage of Tesla at these levels because we believe that even a year to two years from now, even 5 years from now, they're going to still maintain their leadership position. And we believe that the growth is still there in the EV space and keep in mind that the U.S. just passed the bill that is going to even add an incentive for all EVs for U.S. consumers starting January 1. So that's sort of a tailwind as well. We're seeing economic activity rebound in Chinese cities where COVID infections have peaked. And so if you look at the particularly in the north and central parts of the country, Beijing, Chongqing, Chengdu and Wuhan have seen their subways jump 40 to 100% in the week through Wednesday. So this is just the idea that once you give freedom to Chinese people who have been locked down for a couple of years, that they're going to run. Can I get you excited about China at all? You can, but that's also going to add to the inflation fears around the world, right? Because of the pent up demand. And so this is just going to be the knock on effect of economies around the world going through COVID or COVID going around through the world and adding into the demand. The good news is the supply chain around the world seems like it's opening up, so that's going to help on the demand pressures to ease some of the inflation pressures. But I think that's the number one key here is inflation around the world for 2023. If we can get that under control and not hit a global depression if a recession, if you will, China looks interesting. It really does. So does a lot of opportunities. So we see the first half around the globe, you know, be cautious, be patient. And then start taking the opportunities. As they come because I think 2023, we could see a turnaround, but we could see some headline risks, some valuation concerns in the market, bring the market down a little bit further. But then it could be sort of the story of finally we have growth again and we have some opportunity in 2023. All right, Robert, thanks very much for joining us. It's really enjoyed it. Robert shines, CIO at blankie shine. Wealth management. So some of the big losses this year, Amazon down 50%, its market cap
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Right, the time now is 31 and a half minutes past the hour. It's time for world news. The COVID data questions are persisting and the messages becoming very mixed in China at Baxter with global news. In the 9 60 newsroom in San Francisco Ed. Yeah, that's right, Brian, very confusing messages coming out. For example, in Chongqing health officials are saying that people with mild cases of COVID can and should go to work. This is Bloomberg John Lu. I think this is a reflection of how quickly the virus is spread and how very much the government wants to keep things going if a kid. He says the danger is that too many people will be ill in the workplace and that it will slow work production. Police and security guards have been stationed outside the Beijing crematorium that is reportedly been designated to handle COVID fatalities, journalists were pushed to the back of the parking lot as a line of about a dozen black minivans that enter the site that's used to prepare and process bodies for cremation. Hong Kong has given BioNTech formal permits to use two COVID vaccines. These are the mRNA vaccines that have been used in much of the world. U.S. Supreme Court chief justice John Roberts has ordered title 42 be kept in place. These are the controls at the U.S. southern border that were due to expire tomorrow. And former Texas senator Kay Bailey Hutchinson on Bloomberg earlier today said the president now has time to initiate programs. The hospitals, the healthcare, keeping them safe, it's just more than a community can handle. And the federal government really needs to step up. Yeah, thousands of migrants are gathered to the border and will now be able to not be able to enter tomorrow. Donald Trump has been referred by the January 6th committee to face criminal charges of obstruction of a federal proceeding and citing an insurrection conspiracy to make a false statement making statements to defraud the United States, none is binding but will be referred to the U.S. Department of Justice. Bloomberg's Joe Matthew. It's unprecedented.
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Government was saying they're going to try and draw some of that back. There's also more talk about fiscal spending. But the real question for the economy right now is not what the government says it's going to do next year. It's what's going to happen in the next two months with the outbreak. I mean, you can't say people will go out and spend if people are afraid of going out because they're afraid of getting code or they've got COVID and they have to stay home. So what happens with the outbreak? Like everywhere else in the world, which is China has to go through this. China has to get through this. And then hopefully once that's somewhat overcome, we can see a start of a rebounding consumption. But there's going to have to be a lot more support for private consumption. There's been no income support at all for people in China unlike there was in the UK. People don't have a lot of money to spend right now Yeah. And it was extremely expensive. And it's that the route of some of the issues that the UK has now. But why has Xi Jinping taken this route from incredibly restrictive to sort of totally lacks? It's baffling to people here. What's your brief take on why it might be? I mean, there's a lot of different theories people have a lot of people some people went to the protests that happened in late November and early December. There were street protests. There was civil disobedience by people who refused to be locked down in their housing compounds anymore. That was rampant across Beijing and other cities as well. The economy was in the doldrums, exports are falling. The budget deficit had blown out to the highest. At the end of October, the budget deficit was the highest it had been on record. Your local governments were screaming for money, they couldn't afford to do the testing they were being told to do to keep COVID cases under control. And they also couldn't afford to lock down. Even before they got rid of these restrictions and they did a one 80 U turn, cases arising in Beijing, cases regarding Guangzhou cases arising in Chongqing. And these are cities of 2010, 20, 30 million people. You can just sort of rise in cases. And the government basically must have looked at all this situation and said, this policy is unpopular. It's incredibly expensive. It's not keeping the situation under cross control. We have to do something. And there's something they decided to do seems to have been to just completely throw it out the window. Okay, James maker, Bloomberg's China economic senator. Thank you so much for joining us with the latest there from Beijing. I mean, fascinating to hear, I think that what James is telling us there about the situation that everyone he knows has COVID and that's what we're hearing all morning from our reporters. Yeah, absolutely. But that the numbers simply are not right. And that, you know, it's really not possible for Beijing to relax its rules in this sudden way and not to have the kinds of deaths and fatalities that pretty much every other country that is done that has seen, of course, but yeah, very, very difficult times. And you could hear it in James baker's voice really about how difficult the situation is on the ground actually in Beijing
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Be the biggest jump since 1998, there does seem to be also some easing in the COVID rhetoric in China, Japanese factory output also declined industrial production falling 2.6% in October from September. So a pretty weak start to the final quarter for Japan. The topics and Nike both in the red still this morning and also investors are looking to Jay Powell's speech, will there be confirmation a hint of a 50 basis point rate hike in December from Jay Powell, let us see treasury yields this morning. Trading at three 72 down two basis points. That you've been a big radio business flash is the angolans with our top stories. Good morning. Caroline good morning and thank you. Bloomberg has learned the UK is planning to relax bank ring fencing rules as part of efforts to deregulate the City of London, ring fencing introduced in the wake of the 2008 global financial crisis requires banking groups to separate their retail services from investment banking activities, according to treasury sources, the government wants the changes to get a Big Bang out of Brexit, a reference to the 1980s deregulation of the UK financial services. Now staying in the UK prices and shops are rising at the fastest pace since at least 2005 as people battle a growing cost of living crisis in the run up to Christmas. The British retail consortium said shop price inflation accelerated to 7.4% in November, food price rises surged 12.4% year on year for the month, with meat, eggs, dairy, and coffee all seeing big jumps, the BOE believes inflation is now peak, but is forecasting for it to remain elevated throughout the next year, and Wall Street is spending more on technology designed to keep an eye on traders, the industry will spend about $1.8 billion on surveillance technology this year, up 20% from 2021. It comes after regulators made record fines from the world's biggest bank for lapses in monitoring communications. U.S. regulators have reached settlements with a dozen of banks totaling over $2 billion. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, and Leigh Anne garnes, this is Bloomberg, Lizzie. Thanks Leon, now China's economy has continued to suffer from COVID outbreaks during the month of November. The latest PMI survey shows activity contracted at a level last seen in April. This is the head of the IMF has warned that it may have to trim its growth forecast for the world's second largest economy this year. For more let's speak to Bloomberg's Rebecca Tron Wilkins in Hong Kong, Rebecca, what does this latest data tell us? Well, it's really the concern that this is sort of the direction of travel now. And that we are going to have to return to some period that we saw back in April. So that was when we last saw the last record spike of cases. There is a big difference then from now, which is that when Shanghai was locked down, it was predominantly because cases were really concentrated in that capital city. Now we are seeing cases spike across China in lots of the different hubs. So Beijing Chongqing, Guangzhou, and so on. And it means the scale of the issue now is much more challenging. Of course, add to that the social unrest, the protests that we've seen breaking out tied to these very strict COVID zero regime protocols, which is again sort of adding this pressure and this need to try an issue sort of more nuanced or more moderate approach. Okay, a more moderate approach, but what is the virus outbreak actually looking like we have focused a great deal on the protests around the COVID restrictions. It looks like the language is being eased a little bit, but what about the virus outbreak? Yes, cases are continuing to climb and there is a lot of particular focus on Beijing and how well Beijing manages that in part because Beijing has the most sophisticated and best developed healthcare system compared to elsewhere in China. And the way its ability to sort of manage the fallout and the pressure of those rising cases is being closely watched. We are also seeing the emergence of these sort of temporary COVID residents residential plate areas being built up as well, suggesting that, of course, cities are now preparing to have to quarantine those with infections. And Rebecca, we've had this warning from the IMF that it might downgrade its growth forecast for China. It's currently expecting 3.2% growth this year, 4.4% next year. I've got to say, I feel like the IMF is becoming increasingly interventionist at more vocal, not just behind the scenes, but out in the open. They've also made open comments about the UK's fiscal policy. I'm not sure if you agree, but how much is the downgrade? How much is the growth forecast actually likely to change next year? Absolutely. Well, I think when we put it in the context, by and large, most economists have downgraded their growth forecast to around 3% and the IMF is around 3.3% thereabouts. So it would sort of be in keeping with how I think the broader consensus is viewing China right now. But we also have seen some relatively more outspoken comments, you know, there was this implication about the possibility of China turning away from COVID zero and the costs of COVID zero. So there is some sort of commentary around this. I think, again, pointing to the forward looking view. Just how long and when and if China is going to be able to lift some of those COVID zero measures and really sort of kickstart the economy back into play. It's also consumer. Consumer demand and sentiment, of course, has been really significantly damaged and we have, of course, still this property crisis that's rolling on. Yeah, absolutely. Lots of things to watch on the China economy front then. Bloomberg's Rebecca Chung Wilkins live for us in Hong Kong. Thank you so much for joining us. Coming up next then, we'll also look ahead to the hotly anticipated speech by Jerome Powell necks as other fed speakers keep up their hawkish commentary on raids. We have Bloomberg's
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"A growing split between what you might call American economic pressure on China almost economic warfare and Europe led by Germany looking to China in many ways the compensate for the loss of economic ties with Russia. If there were a crisis in the United States wanted to introduce sanctions, I could imagine a big transatlantic split. Richard Haas of the consulate foreign relations just brilliant yesterday on the linkage of our diplomacy, our foreign policy with our domestic policy and the uncertainties moving forward. Lisa Brahman time keen with you, John farrow, on assignment, Denmark, Tunisia coming up, as well. Futures are bait down for you. She's up 68. I'm going to call it just like stocks are open today. Futures are open. We'll see what happens. Yields come in a little bit at least so that's sort of the growth angst that's out there. Yeah, and this concern about how far the fed can go. Can I just say, you keep trolling, John, you basically keep implying that he's just ditched us to go watch the World Cup. So we'll find out. Hopefully he'll come back and give us a full report. And I'm more intelligent report than we'll ever do. I'm not your percent. Sir, and I like to say that my bracket is completely blown up with Argentina losing. It's sort of like, you know, March Madness, I'm sort of out of it. Immediately. And that he's been so loyal in the career and joins us now. Chief Asia economics correspondent. And I'm as guilty of this as anybody. I say, I've been to China. And I've been from the airport in Hong Kong to the Mandarin, or maybe some fancy bund hotel in Shanghai. In China right now, it's getting serious. Chongqing is in Sichuan, it's 800 miles from Hong Kong. It is one of the four city states of the People's Republic of China. Tell us about the quality of the COVID lockdown we see an inner China this morning. Well, look, it's getting worse by the day, Tom, China's COVID cases are surging. We had a top health official at St. John land. She went to Chongqing today. She's a kind of Chinese equivalent Doctor Fauci. What the authorities are trying to do is they're trying to thread this needle about not enforcing mass widespread lockdowns that we saw saying Shanghai earlier in the year, but they're trying to do more targeted restrictions on the ground. It's not just Chongqing also, passata is here in Hong Kong, Guangzhou, is the other epicenter of his outbreak. But obviously the question is asking that the officials are obviously asking is how are they going to do that? How can they control this outbreak without going in front of draconian measures? So the more I reckon around a 5th of China's economic iPad is now being hammered by the latest COVID restrictions and COVID testing that's going on. So it's all heading the wrong direction for COVID zero. Over the last 50 years, the city state reality of China is at the mayors that the leaders, the generals, if you will, of each given city, have a voice and they're very powerful. Have they been quieted by president Xi or can they give him an urgent response to, hey, this is what is happening in our city. Well, there was a recent plan delegating more kind of authority to the local level authorities tone to your point allowing them to respond to COVID as they best see fit. But of course, the instruction was also not to lie flat, and they have to continue to control the virus. So obviously our own colleagues in Beijing and Shanghai are reporting. The question becomes, how can they pull that off? How can they allow the economy to breathe while also controlling the virus without kind of draconian restrictions that are being forced through. So this is the big dilemma. I think there is a feeling now among China watchers that China is heading into a very difficult a few weeks. It's got to be probably the biggest test of COVID zero since the pandemic began. Nomura also out today make the point that China's hospital network in terms of ICU beds and they're like, isn't it as good as your Taiwan's or South Korea's in Japan and so it was a real real critical couple of weeks that are facing China on this policy. And I hear in the U.S., there also is a bit of a COVID wave, although there's enough immunity that people kind of shrug it off. And I do wonder, you know, as people gather for Thanksgiving meals and prioritize getting together regardless of any health concerns. What the social unrest is like the social pushback in China amid another round of shutdowns. Well, again, as you well know, it's hard to be too scientific, but open-source social media does suggest there's a lot now of fatigue, exhaustion, and maybe resentment towards the ongoing COVID restrictions. We have some analysts on Bloomberg TV today in Asia hours making the point that people are fairly tired by the ongoing restrictions as it is. That's obviously understandable, but the whole crux of the issue is, how does China navigate away from COVID zero without having a fairly serious public health disaster on its hands? And that's the big challenging act here. How can it navigate to get the vaccination rates to where it should be, either with Chinese made vaccines or western made vaccines? And then how can they, of course, keep the economy taking over when you have an exit wave from COVID zero. And other countries in Asia who come out of COVID zero went through a pretty rough time when they were pulling out of it in terms of walker shortages, supply chain disruptions and everything else. So it's not going to be simple for China. A lot of economists today Goldman Sachs included who are making the point that it's going to be a very slow torture torturous process for how to navigate out of this. That said, almost everyone who I've read believes that China will make its way out of this next year. This is the consensus trade that you will see outperformance in the world's second biggest economy because of how low things have been this year and because they have to start the process. Can you connect the dots and all the things that have to go right to get there to make sense of this consensus call? Yeah, it's because expectations have been so low. He said, it's probably not too hard to see how China could at least recover some of them here. As you mentioned, if they can navigate out of COVID zero in a similar controlled fashion, obviously the consumer will be ready to go pent up demand just like we've seen in every other country around the world. Goldman Sachs thinking that will happen in the second half of next year. But don't forget to real estate side of it. Real estate slump, accounting for almost a quarter of economic. Activity, you know, as we've said before, economists say that the recent measures to shore up the real estate sector are game changer. So there is a scenario where we could get into, say, mid next year where maybe China's navigating to COVID side of things better than the husband, maybe the real estate sector has found its feet and China is getting up and running again. And a thank you so much for your work each evening for us from China and the current running all of our economic analysis from Hong Kong on the Pacific rim. I want to do a victory lap for one L bramo killing it yesterday and the equity watch are rare and difficult thing for her. Your interview with one Peter Oppenheimer really got some major traction out in the media. People talked about it as well, Ian lingan and bond's publishers moments ago a plethora of unknowns is what Ian lingan sees and Oppenheimer sort of said the same thing in the equity space, right? Which is a reason why they say kind of meandering performance for a while. But the meandering performance. Ends up leading to something where there are new highs later on in the existence of the
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak weekend, our global look ahead at the top stories for investors in the coming week. I'm John Tucker in New York. Up later in the program, another wave of harsh economic realities could be a head for Britain's prime minister. But first, the huge Communist Party Congress coming in China starting October 16th. It's anticipated to be a celebration of president Xi Jinping's decade in power. And for more on Xi, and where he fits into all this, we go to Hong Kong and Bloomberg daybreak Asia host Brian Curtis. John general secretary Xi is expected to win a third 5 year term at the Congress that starts later this month. How has China changed during his tenure? I spoke with Jenny marsh, Greater China editor on the Bloomberg Asia government team. She told us that what many thought would be she's direction turned out to be wrong. When Xi Jinping came to power in 2012, China had been on this sort of big economic boom for at least a decade and the west sort of expected that Xi Jinping was the leader who was going to continue sort of opening up China into the rest of the world and the hope was that more democratic values would be adopted in China. And the reality is it's kind of been the opposite under Xi. Later, when I asked her if at the moment there was any reasonable threat to Xi's rule, she said quite emphatically, no. That's sort of the beauty of what he's done over the past ten years. It's all been about control, and he has consolidated that control to such a degree that no, I think there are very few people, if any, who are expecting she not to get a third time in power. That's Jenny marsh, Greater China editor on Bloomberg's Asia government team. Joining us for her insights is Bloomberg opinion columnist Julie wren. Surely, so we heard there about what happened at the beginning of Xi's rule. And it's important to remember that just before he took the reins as general secretary, he ousted both she lie as the party's top official in Chongqing. And I think that was an early indication that he was ready to shake up the old ways of operating in China. Absolutely. And there was surprising to a lot of us because of post July, he was handsome, charismatic, and Xi Jinping, he was very quiet and the media shy. And that he was willing to go so far to topple his potential rival. It was a bit of a surprise. So one of the first big programs that she launched was the crackdown on corruption. As we look back on that, and it's ongoing. But as we look back on that, how was it as a kind of opening effort? I have very mixed feelings about the president. And high corruption campaign. I get that some of it is to topple his potential political opponents. But some of it is because China's bureaucratic apparatus was becoming too corrupt. I remember when I was just coming back to Asia in the early 2010s, ten years ago. You can go to, say, see no pack or Petro China's party and it was champagne field. It was quite corrupt. I have to say. And a lot of excess, can we say though that today, in terms of the way the party operates and the way businesses operate that there is much less corruption? Absolutely these days, if you go to a Communist Party's meeting or whatever conference, you can not even get a bottled water because it becomes a question. Who is serving the bok choy water to CCP conference? The bureaucrats, they are doing a much better job. They are cleaner now. In late 2020, we then had to crack down on the private sector, beginning with a major crackdown on the technology sphere. I do get that China is starting to put too much too many resources into the so called consumer. This so called, for instance, basically after school tutoring programs like why do we try to make money of Chinese parents and society that their kids may not get to the best universities? But on the other hand, since the big time crackdown, there have been a lot of layoffs and hiring freezes. And it hasn't been felt very positively across the Chinese society. Young people, they used to look at the big tech companies as their potential employers. And that job prospect is gone. So then we had most recently the cozying up with Vladimir Putin and I think many would suggest that that has backfired. I would say so, but I have to say that she hasn't really helped Putin web Putin needs his help the most. To me, that it's a sign that he's now completely irrational. He's now Mao or North Korea's history seems to want to reconnect with the world. And if you align tremendously with Putin, give him weapons, resources, this and that. That basically is a break from the rest of the world. As we look back on these past ten years because we're getting close to the time when president Xi would be going into his third term, if indeed he wins approval and that's what's expected. What would you say are some of the major positive developments from Xi's rule during this decade? I think anti corruption is his biggest signature dish. He did make that officials less corrupt and the bureaucrats did not take bribes and et cetera. And what about how people feel on the streets of China? I know you come from Shanghai originally and you still know people there and your parents are there. How do people feel about where China is on the global stage at the moment? I think that's interesting question because I suspect that just like the U.S., the Chinese society has become very divided, which we do not hear about very much because I mean realistically my contacts are possibly middle class to upper middle class, right? Me working at Bloomberg covering finance. And they have a very negative view towards China. But if you go into lower middle class, some of them might like him quite well, I mean he did a shanty town redevelopment project, basically tearing down all buildings and paying out in cash to the residents. And then he also raised pension funds for retirees and retirees might like him quite well. So I think that's one question that can be explored further whether Chinese society has also become very divided into blue state and rest state. It was an interesting line in one of our pieces on the terminal in the past week, a big take called she's first decade made China a paradox of confidence and anxiety. But the line is quite general. It's from someone who's not named in the story. But the comment was, in these past few decades, people got richer in China, but they're not richer inside. How do you interpret that? I'm in my early 40s, so called the lucky generation when my generation was growing up, we saw the very visible income growth year after year. We buy apartments, you know, by designer bags and so on and so forth. And now it doesn't feel that growth trajectory is still there anymore. So what do you do with your life? And increasingly, young people like a Gen Z and some millennials. They start to ask questions when you go to China, they ask me about religion about yoga. So they want to look for perhaps some kind of spiritual satisfaction if the material satisfaction is not there anymore. Surely, thank you very much. Joining us has been Bloomberg opinion colonists. I'm Brian Curtis, along with Doug Chris, you can catch us every weekday here for Bloomberg daybreak Asia, beginning at 6 a.m. in Hong Kong and 6 p.m. on Wall Street. John, Brian, thanks for
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak weekend, our global look ahead of the top stories for investors in the coming week. I'm John Tucker in New York. Up later in the program, another wave of harsh economic realities could be ahead for Britain's prime minister. But first, the huge Communist Party Congress coming in China starting October 16th. It's anticipated to be a celebration of president Xi Jinping's decade in power. And for more on G, and where he fits into all this, we go to Hong Kong and Bloomberg daybreak, Asia host Brian Curtis. John general secretary Xi is expected to win a third 5 year term at the Congress that starts later this month. How has China changed during his tenure? I spoke with Jenny marsh, Greater China editor on the Bloomberg Asia government team. She told us that what many thought would be she's direction turned out to be wrong. When Xi Jinping came to power in 2012, China had been on this sort of big economic boom for at least a decade and the west sort of expected that Xi Jinping was the leader who was going to continue sort of opening up China into the rest of the world and the hope was that sort of more democratic values would be adopted in China. And the reality is it's kind of been the opposite under she. Later, when I asked her if at the moment there was any reasonable threat to Xi's rule, she said quite emphatically, no. That's sort of the beauty of what he's done over the past ten years. It's all been about control, and he has consolidated that control to such a degree that no, I think there are very few people, if any, who are expecting she not to get a third time in power. That's Jenny marsh, Greater China editor on Bloomberg's Asia government team. Joining us for her insights is Bloomberg opinion columnist shuli ren. Surely so we heard there about what happened at the beginning of Xi's rule. And it's important to remember that just before he took the reins as general secretary, he ousted Bo Xilai as the party's top official in Chongqing. And I think that was an early indication that he was ready to shake up the old ways of operating in China. Absolutely. And there was surprising to a lot of us because of what he was handsome, charismatic, and Xi Jinping, he was very quiet and the media shy. And that he was willing to go so far to topple his potential rival. It was a bit of a surprise. So one of the first big programs that she launched was the crackdown on corruption. As we look back on that, and it's ongoing. But as we look back on that, how was it as a kind of opening effort? I have very mixed feelings about the president. She's a anti corruption campaign. I get that some of it is to topple his potential political opponents. But some of it is because China's bureaucratic apparatus was becoming too corrupt. I remember when I was just coming back to Asia in the early 2010s, ten years ago. You can go to, say, see no pack or Petro China's party and it was champagne field. It was quite corrupt. I have to say. And a lot of excess, can we say though that today, in terms of the way the party operates and the way businesses operate that there is much less corruption? Absolutely these days, if you go to a Communist Party's meeting or whatever, conference, you can not even get a bottled water because it becomes a question. Who is serving the bacterial water to CCP conference? The bureaucrats, they are doing a much better job. They are cleaner now. In late 2020, we then had the crackdown on the private sector beginning with a major crackdown on the technology sphere. I do get that China is starting to put too much too many resources into the so called consumer. There's so called, for instance, basically after school tutoring programs, like why do we try to make money of Chinese parents and society that their kids may not get to the best universities? But on the other hand, since the big time crackdown, there have been a lot of layoffs and hiring freezes. And it hasn't been felt very positively across the Chinese society. Young people, they used to look at the big tech companies as their potential employers. And that job prospect is gone. So then we had most recently the cozying up with Vladimir Putin and I think many would suggest that that has backfired. I would say so, but I have to say that she hasn't really helped Putin web Putin needs his help the most. To me, that it's a sign that he's now completely irrational. He's now Mao or North Korea's history seems to want to reconnect with the world. And if you align tremendously with Putin, give him weapons, resources, this and that. That basically is a break from the rest of the world. As we look back on these past ten years because we're getting close to the time when president Xi would be going into his third term, if indeed he wins approval and that's what's expected. What would you say are some of the major positive developments from Xi's rule during this decade? I think anti corruption is his biggest signature dish. He did made that officials less corrupt and the bureaucrats did not take bribes and et cetera. And what about how people feel on the streets of China? I know you come from Shanghai originally and you still know people there and your parents are there. How do people feel about where China is on the global stage at the moment? I think that's interesting question because I suspect that just like the U.S., the Chinese society has become very divided, which we do not hear about very much because I mean realistically my contacts are possibly middle class to upper middle class, right? Me working at Bloomberg covering finance. And they have a very negative view towards China. But if you go into lower middle class, some of them might like him quite well, I mean he did the shantytown redevelopment project, basically tearing down all buildings and paying out in cash to the residents. And then he also raised pension funds for retirees and retirees might like him quite well. So I think that's one question that can be explored further whether Chinese society has also become very divided into blue state and rest state. It was an interesting line in one of our pieces on the terminal in the past week. Big take called she's first decade made China a paradox of confidence and anxiety. But the line is quite general. It's from someone who's not named in the story. But the comment was, in these past few decades, people got richer in China, but they're not richer inside
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak weekend, our global look ahead at the top stories for investors in the coming week. I'm John Tucker in New York. Up later in the program, another wave of harsh economic realities could be ahead for Britain's prime minister. But first, the huge Communist Party Congress coming in China starting October 16th. It's anticipated to be a celebration of president Xi Jinping's decade in power. And for more on G, and where he fits into all this, we go to Hong Kong and Bloomberg daybreak Asia host Brian Curtis. John general secretary Xi is expected to win a third 5 year term at the Congress that starts later this month. How has China changed during his tenure? I spoke with Jenny marsh, Greater China editor on the Bloomberg Asia government team. She told us that what many thought would be she's direction turned out to be wrong. When Xi Jinping came to power in 2012, China had been on this sort of big economic boom for at least a decade and the west sort of expected that Xi Jinping was the leader who was going to continue sort of opening up China to the rest of the world and the hope was that more democratic values would be adopted in China. And the reality is it's kind of been the opposite under she. Later, when I asked her if at the moment there was any reasonable threat to Xi's rule, she said quite emphatically, no. That's sort of the beauty of what he's done over the past ten years. It's all been about control, and he has consolidated that control to such a degree that no, I think there are very few people, if any, who are expecting she not to get a third time in power. That's Jenny marsh, Greater China editor on Bloomberg's Asia government team. Joining us for her insights is Bloomberg opinion columnist schuler yen. Surely, so we heard there about what happened at the beginning of Xi's rule. And it's important to remember that just before he took the reins as general secretary, he ousted Bo Xilai as the party's top official in Chongqing. And I think that was an early indication that he was ready to shake up the old ways of operating in China. Absolutely. And there was surprising to a lot of us because of course he was handsome, charismatic, and Xi Jinping, he was very quiet and the media shy. And that he was willing to go so far to topple his potential rival. It was a bit of a surprise. So one of the first big programs that she launched was the crackdown on corruption. As we look back on that, and it's ongoing. But as we look back on that, how was it as a kind of opening effort? I have very mixed feelings about the president's anti corruption campaign. I get that some of it is to topple his potential political opponents. But some of it is because China's bureaucratic apparatus was becoming too corrupt. I remember when I was just coming back to Asia in the early 2010s, ten years ago. You can go to, say, see no pack or Petro China's party, and it was champagne field. It was quite corrupt. I have to say. And a lot of excess, can we say though that today, in terms of the way the party operates and the way businesses operate that there is much less corruption? Absolutely, these days, if you go to a Communist Party's meeting or whatever conference, you can not even get a bottled water because it becomes a question. Who is serving the bakhtar water to CCP conference? The bureaucrats, they are doing a much better job. They are cleaner now. In late 2020, we then had the crackdown on the private sector beginning with a major crackdown on the technology sphere. I do get that China is starting to put too much too many resources into the so called consumer. There's so called, for instance, basically after school tutoring programs, like why do we try to make money of Chinese parents and society that their kids may not get to the best universities? But on the other hand, since the big time crackdown, there have been a lot of layoffs and hiring freezes. And it hasn't been felt very positively across the Chinese society. Young people, they used to look at the big tech companies as their potential employers. And that job prospect is gone. So then we had most recently the cozying up with Vladimir Putin and I think many would suggest that that has backfired. I would say so, but I have to say that she hasn't really helped Putin web Putin needs his help the most. To me, that it's a sign that he's now completely irrational. He's now or North Korea's history seems to want to reconnect with the world. And if you align tremendously with Putin, give him weapons, resources, this and that. That basically is a break from the rest of the world. As we look back on these past ten years because we're getting close to the time when president Xi would be going into his third term, if indeed he wins approval and that's what's expected, what would you say are some of the major positive developments from Xi's rule during this decade? I think anti corruption is his biggest signature dish. He made that officials less corrupt and the bureaucrats did not take bribes and et cetera. And what about how people feel on the streets of China? I know you come from Shanghai originally and you still know people there and your parents are there. How do people feel about where China is on the global stage at the moment? I think that's interesting question because I suspect that just like the U.S., the Chinese society has become very divided, which we do not hear about very much because I mean realistically my contacts are possibly middle class to upper middle class, right? Me working at Bloomberg covering finance. And they have a very negative view towards China. But if you go into lower middle class, some of them might like him quite well, I mean he did a shanty town redevelopment project, basically tearing down all buildings and paying out in cash to the residents. And then he also raised pension funds for retirees and retirees might like him quite well. So I think that's one question that can be explored further whether Chinese society has also become very divided into blue state and rest state. It was an interesting line in one of our pieces on the terminal in the past week. Big take called she's first decade made China a paradox of confidence and anxiety. But the line is quite general. It's from someone who's not named in the story. But the comment was, in these past few decades, people got richer in China, but they're not richer inside. How
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Time. Drake is being named Shazam's most all time searched artist the music directory after its 20th birthday created a list of its most searched artists and songs and found Drake holds the record with 350 million Shazam's the app identifies artists and songs for users that can't quite figure out who they're listening to. Drake's one dance is the most Shazam song being searched for over 17 million times. I'm Chris karashi. And I'm Brian Curtis in Hong Kong. Let's check this hour's top business stories and the markets. Chinese banks lowered their loan prime rates for the first time in many months. It's an attempt at lifting business and consumer sentiment as the economy struggles. The one year loan prime rate was lowered to 3.65% from 3.7%, all 20 economists polled by Bloomberg had expected a ten basis point reduction instead of the 5. The 5 year rate, a reference for mortgages, was cut to 4.3% from 4.45%, and that was more than expected. Meantime, authorities have extended power cuts in Sichuan province in China. They've activated their highest emergency response, more from Bloomberg Stephen engel. Chengdu has not seen even a smidgen of rain for more than two weeks. Chongqing has been in drought for 18 days. Other cities and nearby provinces like Nanjing and nanchang also have not had any amounts of rain this month. So that is really taxing the power grid right now. Meantime, fed chief Jerome Powell is expected to repeat the fed's commitment to slaying inflation. Powell will speak on Friday at the Jackson hole symposium. Oil prices drop below $90 a barrel, feud by worries about demand and also potentially more supply coming if the Iran nuclear talks go well. And briefly, Tesla chief Elon Musk says the price for Tesla's full self-driving system will rise 25% as of September 5th. Let's check the markets. We are off the worst levels of the day than EK down a half a percent. The Hangzhou index is also down a half of 1% in China's stocks have turned around and are positive. The CSI 300 is at the moment up 7 tenths of 1%. The yield on the ten year treasury now 2.98%. Global news. 24 hours a day live and at Bloomberg quick take brought to you by more than 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"Guests know where to get the answers just to put a good word in for Bloomberg, one of the few systems you can easily use to figure it out is right in front of you. Inside. Analysis. In the best from the Bloomberg terminal. The Bloomberg terminal is like a Ducati Panigale. I can extract maybe 5 to 6% of his total. I don't think you're even close. I think it's like sitting on top of a Saturn B 5. Bloomberg markets with Paul Sweeney and met Miller, weekday mornings at ten eastern, on Bloomberg radio. Senate majority leader Chuck Schumer is cheering on the passage of the inflation reduction act during a news conference following the bill's Senate passage Sunday. The New York Democrat said he hoped the legislation would endure as a defining feat of the 21st century from taking on big pharma, pushing through the boldest climate package in U.S. history, Schumer touted the ability of his party to get landmark legislation passed without the help of Republicans. Chicago police are increasing patrols following a violent weekend, at least 53 people have been shot, at least 7 have died since Friday in the metro Chicago area. The first fatal shooting was reported Saturday morning after a 29 year old was shot multiple times on a Chicago transit authority train. Police superintendent David Brown announced additional security patrols following the bloodshed, calling it unacceptable. More human remains have been found at Lake mead as water levels recede Saturday's discovery marks the fourth time skeletal remains have turned up since May in the nation's largest reservoir, about 25 miles outside of Las Vegas. The first set of remains were found in a barrel back in May. I'm Chris. And I Brian Curtis in Hong Kong. Let's check this hour's top business stories and the markets. Hong Kong will shorten quarantine for arrivals to three days from the current 7 days beginning on Friday. Chief executive John Lee has a rivals will have restricted movements for four days after their hotel quarantine. It marks a fundamental break from China's strict COVID zero policies. Hong Kong carrier cathay Pacific is adding to recent gains in the stock market. Baidu has one approval for the first fully autonomous self-driving taxis in China. Why do secured permits to operate robo tax season Wuhan and Chongqing? Well, a strong U.S. jobs report could mean another 75 basis point rate hike by the fed. San Francisco fed president Mary Daly says overall conditions are improving, but more needs to be done. I do see signs that the economy is cooling. It just is going to take some time for the interest rate adjustments we've made to work their way through. And we are far from done yet. That's the promise to the American people. We are far from done. We're committed to bringing inflation down and we'll continue to work until that job is fully done. Mary Daly, speaking on CBS face the nation program. The U.S. CPI report this week could shape views on the fed path. Prices may be topping out, but it's unclear if they will persist at higher levels. WTI oil fell below $88 a barrel in early Asian trading on Monday after slumping by almost 10% last week. And Warren Buffett's Berkshire Hathaway reported $3.8 billion in equity purchases in the second quarter. It was a net seller last year. In the markets, the hang seng index down 8 tenths of 1%, an EK up a quarter of 1%, the CSI 300 is trading down about a third of 1%. Global news, 24 hours a day, live and at Bloomberg quick take brought to you by more than 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. This is Bloomberg Wall Street week with David Weston from Bloomberg radio. This is really a very comprehensive and historic piece of legislation. Joe Manchin, he made a terrible deal. Leave it to Congress to surprise us. Take two of our biggest problems inflation. We have a serious inflation challenge, which is hitting economies around the globe. And climate. As the climate crisis gets worse, extreme weather will pose a rapidly growing danger to a rapidly growing number of communities. Put them together in one big package and give it the attractive name of the inflation reduction act. This bill will reduce inflationary pressures on the economy. In the end, it all came down to getting West Virginia senator Joe Manchin to sign on. This is fighting inflation. This is all about the absolute horrible position that people are in now because of the inflation cost. In senator Manchin's Republican colleagues like pat toomey of Pennsylvania can't believe he went along. It's a very significant corporate tax increase, mostly focused on manufacturers, which is a bad idea. It's combined with price controls on prescription drugs. I've been asking myself, what does Joe Manchin get out of this? But thus far, economists like Larry summers think the inflation reduction act may be just what the doctor ordered. I was glad to see the bill. I think it's going to reduce the rate of inflation because it's going to reduce deficits and demand over time because it's going to use the federal government's power to negotiate lower prices for pharmaceuticals and because it's going to increase. Supply of energy. So economists really like
The Times: Daily news from the L.A. Times
"chongqing" Discussed on The Times: Daily news from the L.A. Times
"Alice china's reached the stage. Where anyone who has documented history that doesn't fit with the official chinese government narrative has been arrested or fled abroad. Well sometimes it does seem that way. And when i speak with people like chongqing or online archivists in my story they speak about how hopeless they feel because it does seem like those are the only two options. You need to go abroad or you're going to end up in jail but you know when i'm on the ground reporting. I'm often surprised by the fact that you never really know. Completely what is their below the surface in china. And sometimes you know in the most unexpected places. You'll find someone who actually holds thoughts that go against the government narrative and they just never had anyone to talk about it so even going back to this scene that we described earlier last friday when i was in that shopping. Area and soundly twin. I was listening to the patriotic songs and watching the patriotic video. And i thought you know. I'm going to go interview a patriotic volunteer and get some quotes about how they are of one hundred years of history. I saw this group of elderly men. They were all wearing red hats and red armbands which marks them as neighborhood volunteers for the event and i went to talk to one of them. There's this old man kind of wearing his red hat and red armbands standing in front of the video screen. That was playing videos of rocket. Blast off and you know great china in the future. His name was young year in and he was seventy two years old. And when i asked him you know what do you think about this. One hundred years celebration. He's surprised me because he actually paused. And he knew that i was foreign media and he said you know one hundred years it is something remarkable but i can't help but think there are some things that we still need to reflect more on roy. Moore the gogol shots. There are mistakes that we've made and we haven't thought enough about them. Like many people of his generation. He knows a lot of melted. Don't quotes and it was quite interesting. He actually quoted this line from amount to me which was insurance input gel sharia law which means humility makes one progress in advance. An arrogance makes landfall behind them team to walk luggage. Just so you understand. That's a very dangerous thing to say in china and it's especially dangerous to be saying that at the site of patriotic celebration with police around and with everyone coming on the most sensitive week of the year when everyone is meant to be united and proud a chatted more with young and he told me you know he was sent to hey long john province when he was young during the culture revolution when a lot of youth were sent to remote rural areas to work in us telling me how. It's not just that the common people suffered a lot during those years but it's also that he saw how top leadership within the party you know was engaged in these kind of brutal political struggles. He saw leaders being purged and they kind of broke his ideals on his illusions about the glorious pure party. That's leading us. I think he and many people of his generation when they saw the kinds of factional struggles and mutual. Purges that were happening. They realized this is really about power but he also said you know. I'm thinking like this. I'm not sure if it's correct. But i just can't help thinking we need to reflect more. What struck me about. This story is how what the chinese communist party is doing with. Its nation's history. It's exactly what we do here. We've been whitewashing our own history since the days of the mayflower yet the. Us has always quick to judge communist china and others. But we do the same in stay silent. I think what has struck me during my reporting is that you know amid all this competition between the us and china we kind of see a lot of very similar rhetoric coming out of both sides essentially the us and china are competing right now to prove you know who has the better system and who can be a stronger country based on their type of governance and for china. At least it's very much about showing. Obviously it's us obviously as the communist party. We are so strong. We are so united. We're able to get rid of kovic we're able to now send rockets into space and a lot of the focus is on achievement and accomplishment. But while reporting i think what struck me was that the people that i meet who actually lived through. That past are not so fixated on a type of strength. That's defined by skyscrapers.
Overnight Drive
"chongqing" Discussed on Overnight Drive
"York hans station went. Who cares. i like say you up for a bit fucking players. Go off these snyder. Rich and famous record judge. Oh i guess. I got to get another roommate. Who there you go get it done gabia. You've you've made the today went to chongqing. oh detroit. i saw steve ready last night. I was that right. How's he doing. I love him. He's apparently lives really close. She doesn't center square so know him. And kate and that dude is. I've ever met anyone who has absolutely zero business. Remember who. I am and always very happy to see me same. He worked for the man for four months. Even i was joking. I told them we're talking about like like Somehow we got on the topic of food right. Like i just remembered this moment because he was talking about like Eating vegan or whatever and i was like yeah i remember when i first started working at the cia like we used to be just like barn in the middle of the woods and i was like yeah was eating pizza like at work and you walk by and you said pizza again and i was like that because they were talking about exercising in the park and i was like that. Hit me in a real way. Where i always check myself because i remember you i. That voice echoes in my head. Pizza again he started laughing. As i can be kind of a judgmental prick but he was fucking pizza place in chatham coincidental pizza dan. Yes hey maybe. I shouldn't eat pizza slices everyday. That's it for questions for me. I lost the plot. You got some in there. And i have none just the last one right. So we have. We have some misconception. I suppose we can do them zone. Okay don't want to leave really. I want to go home really tired. You wanna give them up fucking. I'm going to do a truncated. This is what. I look forward to all day is doing the podcast. Fucking tall weedy. It's on the phone. Can figure producer. Hannah the pride of michigan and now the new york city she She convinced andrew that. She's real believe she's real simulation. It's just amazing To producers hannah. She is the best in the business. The pride of michigan the pride of new york. sends some demented shit every day or every monday and We couldn't think are more for producer. No no no longer an associate. That'd be a raise. A raise consonant with experience that will process in two weeks. Thank you we chatted about lobster tails at press shop. Altimonte ab i was looking at the tells and you told me how to cook them. Boil the water. I how are you going to do it. Curiosity blowtorch tournament a pan pan bugging butter fucking flip a few times. If you were out there and wants to meet for a drink. I mean now. Wow lowest lowest steaks. Can i told you how i mentioned. How to how to cook lobster tails. And now i wanna meet for a drink. Spontaneous will worship in your car exclamation point in northampton. J. mask is j. Ask us is like in your fucking vw. Or inclines kiko shoes and again. Stickier feed out the window kindle walk up and worship them including licking could be used hailing ace from not on tour females. Only please please killing of your socks in the subject. Line in komi jay jay mask close few have an mx. Caesar little loads of taking off your hands. You're drunk jayme s. Turn into people aren't woods. Thank you this gazoo. Good the and then it turns into randy savage new. The mean to you during these two junior. But i heard a dan suic- near we're going to take you through turn is to equip up in my mind mean jeans holding the microphone for letting leg gaw bascus j. Jamie what do you think about your johnson against. Let me tell you. He seems like immediately seems like incense. He seems like intense gun. I'm going to rank you all right. Let's hear now from let's hear now from fell on some simpler g good because we play music. I didn't focus for. Burn the folk with noble book. Good for the body. The was a nascar's wrestling unsolved mysteries. Music up whatever. The lets us my. That's just my old school robert stack of you. Randy's or someone you know is seen my no right. This one's gonna major league looking for major league bats for batting practice at our batting cage cages clean and deep for the long ball weiming wanting to set up a home run derby with a big long bats. Please send info and clip of bat to start the application process. What if like some little. What some little kids apply the bat animal toner. He's got a big bat. Yeah exactly this is. Oh this is my son. billy is only twelve. But he's got a big fat one lucky lady very happy hitting balls about line. She will do. The process and following instructions follow instructions and fit the bill in response nine. Plus only al fuck you fuck and sizes space jam. Lumberton looking for those for those. Mon stars no had a slam. Nba type dunk is only make the crowd go wild. It is a very very bad analogy. It was from beaumont. Texas which is near houston. So maybe it's who's on the rockets now. Nobody james james harden now. He's in brooklyn the thing with nets for going here. Nuts now all.
Mala Wielka Firma
"chongqing" Discussed on Mala Wielka Firma
"Musso squash sect on nego- he was ship. It tanya bought farms and sydney. Bob each other apple ito pow dot and we also the migra throw heavy violent. Regina what was discussed this is. That's the violent shove and you keep what the city modest that he had an opportunity on. It's in the navy needs out. Will sip-it donya struck pasta. Benjamin dodo quadrophenia so pollyannish vittachi bobby. It's show cash shape platform being a coup online. The emeals remembers east. Hold your taco platform at rub engine. Let us oh vital. Four patrick was tonight nationwide to stay with him that much in yet. We've always cassini stem via That much closer. The ashes up several years ago platform. I'll let him move near give you just. Why don't you talk to. But we have some cocoa thirty choice. Not does god no platform of engine legitimate. I left shop not simply on separate tanya knocked funk trying volleyball's will teach gaps nevada new platform though doku honoring not around tanya. Those have no many off of eugeniusz of scott sonya collective on existent while ago let it goes ought not i keep it down. You have magazine. Via doper dolls now. John is a comment to answer nicci guile but they go jank cars north each dopey to go down hawks ya yes the vase now. Black woman get of each anomalies lewis to sixty twenty thousand lachey do geico possible. Yeah platform local to Online to adoption garden are back. It's at tutor versions. Ganja middle east baiter stimulus stick up through asia pacific. What mostly voiced fag to being being charles economic whatnot albor of lettuce tanya fuck donald trump. Fuck rodney al. With on to that. Mr stevens alabama anti benji zax totalitarianism shift in pogo. Beat vince stubby. Onions be common. Timothy is unusual. Now's be conquered. Nick platform ala annual prostate baton. So at saatchi dimitar zimbabwean. Nato beach coots star. Not today's nigh don't share takia systemic to respect us individual nipple chubby e mortar. Stan supposed to be the one. You cheered walked shock. Fabio molin now go to be associated gopi so is superior ottawa. Would your elevator that. I imagine there's vicenza was for on king does not yesteryear tanya yuckiest navy no sip platform x. eager to the ultimate failures which mogul Volusia the tanya they spend. There's a choke hip amish. I wish modernism. Jewish on your body but mortar platform spell for your crew travek daria allah yet. What layers jobs. Quickly and chicoutimi anti thousand wt arizona's news now mobile chesney alexander yesterday Bought washing your discourse. Yes commentary on say meters. Johnston night and unusual doing mazzi oppose them. That this we post the vinci's chansa then she chong ish. Yesterday and said comment was a cheaper. Mogul is not accurate stuff. Switch vintage siamese social media tanya to me jeanniot. wg a toss him now. It's somebody gupta inundated. Our body of judge. He puts them through post them. But also that's how i got. Nothing goes pause. Dodger woven amy baton. Yummy leash he tricia foyer a lot. The sports national years jason. Nicolle my own stubborn touching half of wasn't but domini anthony gooch doogie stalling is on my gosh in each problem jedi sheer volume either sheltering armies to what is open in treating it goes of yen. Say also bunge bomblets. Altos selva than don't squander the logging chicago. Vishnu koba. which janjic gives me. Yuck budo vorkuta good putts. Luigi glum house. Criticism dos imagine notorious podcasts. Which aren't get egypt podcasters. Nine elections ball soup. None of us have on your Release gutsy vietnam. Also mommy narrows e goddamn system. Still is any session. I wasn't it both cost that ask down. Cassiopeia nido sheldon. Just go through google podcasts. Them ship yuck storage. Podcast to chongqing or to clean to they upon that also e vienna's knee champion. That's arguing goes is negative on your both gusto. Docomo's don't won't it on your podcast. Broker capelle update us shellshock today swelling. Astatine your formula..
Heartland Newsfeed Radio Network
"chongqing" Discussed on Heartland Newsfeed Radio Network
"When you're going to chongqing you're being there described that more intimately am i gonna go to a market. Am i gonna hang out in the main square. I going to go into the subway system. What is it like to be there. So i might feel a little bit like you and some of the travel. I liked to do which my favorite way of traveling is to see how people live. I feel like i try to go across china and certainly with the book i wrote but also whenever i go anywhere year africa where have you. I like to see how people live and within chongqing you could sort of wander through these meandering Mountain streets and see a noodle hawker hawking his wares. You can see someone performing acupuncture literally on the street in chongqing There of course firing the needles. I so that so that. It's a antibacterial but you can. You can sort of see. There's an amazing crush of life in chongqing just because of the rate of urban ization that you can't help but be immersed in that local culture. There are great museums. They're fine but if you walk three blocks from the museum in any direction you're going to be hit with that incredible chongqing fervor that really makes it a one of kind city. I think anywhere in the world so this is one of those sightseeing opportunities. Where rather than having making reservations for the orsay gallery in going up the eiffel tower. You'll just walk in any direction in my fondest memories of great cities in asia. Exactly that so you're talking about just kind of walking in one direction and observing and having a sense of how do i connect with the people. What are some little intimate moments. You'd have that would really make you think. Yeah this is real travel. Personally when i. When i was twenty three was the first time i ever went to chongqing and i was in a hostile at the on. The river and chongjin tongxin became really famous..
Bloomberg Radio New York
"chongqing" Discussed on Bloomberg Radio New York
"$2000 check. Democrats certainly would like to see what they could do on state and local funding that's probably capped at about $300 billion. There are expiring provisions on unemployment come March. I would be surprised if there would be a push to get additional funding for small businesses. If the PTT program so it's a continuation of what we've done, but further kind of focusing money on areas that have not gotten as much as Democrats were pushing for. Taxes, health care policy, the minimum wage and student dead. Also, issues that could be considered by the Senate. President Trump is losing his social media megaphone. Let's get eaters and Bloomberg to Kurt Wagner. That band by Facebook for two weeks. Certainly that's a step far beyond what they've ever done. I think in Twitter's case, it's actually pretty significant as well. They only temporarily suspended President Trump. But they've said at your next violation. We're going to kick you off entirely. So imagine a world in which No real Donald Trump doesn't exist at all. And so I think they have taken a pretty dramatic step. But of course, everything that he's done on those services up until now has really kind of Ah, led to the events that we saw yesterday. Meanwhile, Amazon's twitch streaming service says it has suspended the president's channel until at least the inauguration. The sanctions against the president of spreading beyond social media, the E commerce, Sir Platforms, Shopify is putting all digital stores affiliated with the president on when Trump became a pro becomes a private citizen. He'll be more vulnerable to permanent bands if you break social media rules. And to this part of the world, Jack Moss and Group is planning to restructure its consumer credit unit. Sources say it's so way to continue lending nationwide under the tough new regulations, Bloomberg's Tom Mackenzie has details. So what they're looking at doing Is putting Bobby and dear babies to consumer lending parts of the business into a consumer finance unit. Now what that would allow the company to do, in theory, at least, is to operate nationwide. The change in the regulatory structure means that if they don't do that, they'll be limited to operations in just Chongqing alone. Now, that's gonna population about 30 million, but clearly not enough in terms of bat nationwide push that they currently have. And consumer credit is a real cash cow for and that unit as of June had more than $260 billion in outstanding loans. All right, well that there are demands full President Donald Trump to leave office one way or the other and soon at Baxter has global news right top of the list. Democratic congressional leaders Pelosi and Schumer. Who are calling on the Cabinet to invoke the 25th amendment. Now a very dangerous person who should not continue in office. This is urgent. This is emergency of the highest Magnets. So, she says, Now, if the vice president a camera do not act Congress may be prepared to move forward with impeachment. Pelosi says much damage can happen in his remaining days in office. She calls him a puppet of Putin, which is interesting because Putin's response to the insurrection of the capital yesterday was that it was because of America's broken system of election. Also speaking out China who says it is retribution and karma For the U. S. Stands globally on protest the White House Kayleigh MCENANY, spokeswoman in a one minute and 47 seconds statement. Those who are working in this building are working to ensure an orderly transition of power. Now it is time for America to unite to come together to reject the violence that we have seen. We are one American people under God, first official statement saying there will be a peaceful transition. Elaine Chao, who has quit the Trump Cabinet as commerce and former chief of staff, Mick Mulvaney has quit. As ambassador to Ireland, he tells Bloomberg's David Westin because of yesterday's siege. A lot of us don't know how to respond to it, but to resign because it's the only thing you could do after the fact. To say, Look, we don't we don't approve of that. We don't want to be associated with that good people do not want to be associated with what happened yesterday. President like Joe Biden, whose electoral votes were certified by Congress over and I went straight on with Trump blame for an incitement of the capital siege past four years without a president. He's made his contempt for our democracy. Constitution. Rule of law Clear And everything he has done and culminated yesterday. My view. One of the darkest days in the history of our nation. Unprecedented the soul on our democracy Now going back to the 25th Amendment, ABC News reports. Some Cabinet members are talking about it. Business INSIDER, though, is reporting, quoting a vice president Pence as saying, Not Happening. COVERT 19 New York cases of reached a record California to date up told our record saying short supply of medical treatment. New Jersey, Florida, North Carolina all reporting daily records in the U. S and San Francisco. I'm Ed Baxter. This is member Brian. All right, let's get to our guest. Shawn O'Hara, president of Pacer E. T s to take a look at markets Thean packed all of the events that I just talked about on the markets. Shawn, we've had promises of more stimulus. Now for a while, and looks like we're going to get that. That said the data itself has been providing some stimulus. Been looking pretty good here of late. I have some services and manufacturing very strong this week and also jobless claims were down. Does that continue? Or do we get sort of a slap in the face with the jobs report tomorrow that would slow the momentum. Good evening. Thanks for having me. I don't think you're going to see a negative print tomorrow on the jobs report..
Hugh Hewitt
Video shows bus plunging off bridge into river after passenger, driver fight
"In China fight between a bus driver. And a passenger costs a boss to plunge off a high bridge into a river with all on board the vehicle presumed dead when the driver of her bus refused to stop a forty eight year old passenger started punching him and he's him on the head with a phone. The Boston the wrong side of the road colliding with an oncoming car broke through a God, rile and plunged off a bridge into the young see river carrying fifteen people, including the driver, so Shane buddies have been recovered and two still missing Sean as police have released the blackbox recording of the crash which happened on Sunday in Chongqing it shows. The video recording
Toby and Chilli
Australia's Prime Minister Faces Leadership Challenge
"Thank you in Australia Malcolm Turnbull is fighting for, his political life that. Prime minister called a special meeting of his party tomorrow amid at Schanche to his leadership when the party ruined meeting. Is, cold offline fight a spill motion to be moved if the motion is carried I will treat that as vote of no. Confidence and, I will not stand as a candidate in. The ballot, the, move comes. After Turnball saw several key ministers resigned today the AUSSIE dollar is weakening on the news currently at point seven two.
Cj Anderson, Bloomberg and Carolina discussed on
"Quarter past the hour now time for check of sports from around the world here's dan schwartzman thanks bryan spain international fernando torres could be joining the chicago fire after the thirty four yards and let it go but your contract ends this summer steam officials including general manager nelson rodriguez are in spain to talk with towards his representatives chicago i write to the spanish star with the belief striker prefers to the chinese super league barcelona midfielder andreas in yesterday's supposed moved to the chinese super league is on hold after chongqing lifan said it wouldn't pay an outrageous salary to the thirtythreeyearold the chinese club is cast out under report del mundo saying that in yesterday three you're eighty one million euro deal after taxes on the table from chongqing great news for the san francisco giants starter johnny cueto does not have torn ligaments will not have surgery on his cellphone will instead rest for six to eight weeks cc sebastian has told the new york post he will retire if the new york yankees win the world series this year the soon to be thirty eight year old signed a one year ten million dollars contract and is to the one point three nine era on the season six time all star cy young award winner has two hundred thirty nine career wins the detroit pistons and president of basketball operations and head coach stan van gundy at parted ways after four years a team failed to make the playoffs last two seasons under van gundy who had one year remaining on his contract carolina panthers have signed former denver broncos running back cj anderson to a one year contract to be the complementary back last year's firstround pick christian mccaffrey i'm dan schwartzman that's your bloomberg nbc world sports update move news twenty four hours a day at bloomberg dot com.