35 Burst results for "Taiwan Strait"
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Of that conversation. The Taiwan Strait must be stable and Taiwan must be safe. This is my top priority. So you when talk about dialogue and communication and this responsibility for the leader of Taiwan I think about former President Ma Ying -jeou and how he met Xi Jinping in 2015. If you were to become Taiwan's president would you seek a meeting with Xi? The most important thing at this stage is that we in Taiwan still have to stabilize this area in the Taiwan Strait. Therefore we must first improve our own national defense armaments and our own self -defense capabilities. Of course in the process of improvement we will start with dialogue. With the current situations in Taiwan in fact we still have a long way to go. One thing the U .S. is obviously very concerned about is Taiwan's military commitments. Ma Ying -jeou the former president cut Taiwan's defense spending when he was serving his term. Would you cut Taiwan's defense The spending? situation at that time was different completely from the situation now. At this stage Taiwan is actually facing and constant conflicts it is easy to spark a conflict accidentally and trigger a war. Therefore under the current situation the defense budget cannot be reduced. If you spend the budget it will only go up not down. Therefore we need to continue to discuss with the United States how to improve Taiwan's self -defense capabilities and which weapons and equipment are most suitable for Taiwan in terms of the entire arms purchase. When you increase the military budget, let's get specific here, will you commit to spending 3 % of GDP on defense? In fact, no matter how much GDP it is, the most important thing is to make the structure of the national defense budget meet the needs of all our operations. One day, there may even be a chance to gradually increase it to 3 % or above. Of course, that is what should be done. Protect life and property at any cost. With high GDP and high defense budget, this is not the issue. The issue is that you have to use it in the right direction, and it can really make the other party war easily. You've made clear better. that as the future Taiwan president, your priorities are increasing Taiwan's military preparedness and also seeking dialogue negotiations with mainland China. How will you balance Taiwan's leaders should always remember one sentence. Preparation for war is but avoiding war is a leader's responsibility. When the Democratic -Progressive Party was in power. It broke the delicate equilibrium in Taiwan and brought that dynamic balance to the edge of conflict We We can change the direction It stabilized from non -governmental exchanges and gradually moved to official forms of exchanges Let the trust between each other continue to accumulate and increase again. Let me tell you it is impossible to return to Ma Ying -jeou's era in the short term. I I want to talk about business right now. If TSMC were to announce that they want to invest more in the United States, what would your response be? Semiconductors are the lifeblood of technology our industry in Taiwan and we must allow the advanced technologies to stay in Taiwan. Mature technologies can be deployed globally. We have to enact national security laws to protect the core and critical technologies in semiconductors and prevent confidential information from being leaked. This is our responsibility. That is Taiwan presidential candidate Tohoyo Yi in with conversation Bloomberg's Scarlet Food. Look at a few of the hour's top business This is Bloomberg. Broadcasting live from the Bloomberg Interactive Brokers Studio in New door. Bloomberg 11 30 to Washington DC Bloomberg 99 1 to Boston Bloomberg 061 to San Francisco Bloomberg 960 to the country Sirius XM channel 119 and around the globe. The Bloomberg Business Act and Bloomberg Radio dot com. This is Bloomberg Daybreak Big Asia We're about a minute away From the opening of markets in Hong Kong and on the Chinese mainland early market action. This would be Kind of the pre -market implying a little bit of negativity in the case of the hang saying maybe we're down by a half of percent. 1 We'll take a closer look at all the market action for you in about 10 minutes or so here on Daybreak Asia. We begin right now with an update on a few of the hour's top business stories. You have to begin with the Fed, right? Today as expected the Fed delivering a hawkish pause. No change in the benchmark interest rate. It was Left left in a range of between five and a quarter to five and a half percent However policymakers also signaled one more rate cut this year. Fed Chair Jay Powell saying the Fed is now focused on two important goals. My colleagues and I remain squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. We understand the hardship that high inflation is causing and we remain strongly committed to bringing inflation back down to our two percent goal. Price stability is the responsibility of the Federal Reserve. Without price stability we will not achieve a sustained period of strong labor market conditions that benefit Fed all. Chair Jay Powell there he went on to say the decision to hold rates steady was based on how far the Fed has It has already come. We heard from FedEx after the bell the company posted profit above estimates and raised its earnings forecast. The story from Bloomberg's Charlie Pellet. Investors are Both prospects the largest grocery delivery company in America incorporated as maple bear fell fell nearly 11 % closing at $30 .10 all but erasing its initial increase and settling at just $0 .10 above the $30 level at which its shares were old in an IPO. It did trade briefly below that IPO price. In New York Charlie Pellet Bloomberg Radio. All right, so that was the story on Instacart whose shares were down 9 % today 11 % I'm sorry below that IPO price will bring you the FedEx story in a little bit. Amazon is scrapping a planned fee for merchants that don't use the company's shipping services. It announced a 2 % fee on merchants back in August. It was set to a take effect August or October 1st. This reversal suggests that Amazon being a little more cautious while in the midst of tolerating an antitrust investigation. The levy would have added to the commission which is usually 15 % that merchants already pay Amazon to sell products on the popular web store. We go to Italy next where Prime Minister Giorgio Maloney has informed China that Italy is planning to exit the Belt and Road Initiative. The story from Bloomberg's Bani Al.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Chairman Gallagher on What Bret Baier and Martha MacCallum Should Ask the GOP Candidates About Xi and CCP
"We're proud to announce our brand new ACLJ Life and Liberty Drive. Our legal teams will be focusing on the issues that you, our ACLJ members, have told us matter the most to you, life and religious liberty. Join the ACLJ in the fight to keep America free. Welcome to today's podcast, sponsored by Hillsdale College, all things Hillsdale, Hillsdale dot edu. I encourage you to take advantage of the many free online courses there. And of course, a listen to the Hillsdale dialogues, all of them at Q for Hillsdale dot com or just Google Apple, iTunes and Hillsdale. Morning Glory America Bonjour. Hi, Canada. I'm Hugh Hewitt. Tomorrow night, eight Republicans will meet on the stage in Milwaukee for a debate. I am certain that China will come up the Chinese Communist Party, but I'm not sure how. Brett Baer, of course, coming up later in the program. Martha McCollum, two superb professionals, the equal of anyone else in our business, will be asking the question. But I thought I would talk it through with the chairman of the House Select Committee on Engagement with the Chinese Communist Party. Mike Gallagher, congressman. Good morning. Great to have you. Thank you for joining me. It is great to be with you, Hugh. We're going to come back around to this kind of war, which I finished last night on the recommendation of you. It is a remarkable book. And I had no idea how awful the chai comms were to our American prisoners. I just I didn't know. Did you know that before? Did the Marines teach you that when you were in the Marines? No, there's there's two things that I think, well, a lot of actually our modern thinking about how to prepare people for when they get captured. Think survival of Asian resistance and escape school, which I attended when I was in the Marine Corps actually comes out of the experience of the Korean War, particularly some politically sensitive moments when a few American captives refused actually to go home. There was, of course, this controversy during that time period post Korean War in the 50s about this idea of brainwashing. This is prominently expressed in the fictional book The Manchurian Candidate, which became a major American movie. But a lot of our thinking about how to better prepare pilots in particular because they get shot down for resisting in captivity actually comes out of that period. Well, a couple of takeaways I'll never forget. There are no Turks died in the camps. The Turks are the toughest people in the world, and none of them died in the Chinese Communist Party camps. And the Americans didn't eat everything they could eat because they didn't like it and they died of starvation. But the fact that the Chinese communists treated our men that way is a tell because they've reverted to this mode. They were the hardcore Maoist, Leninist mode in 1950 through 1953, and they've reverted. And that's what I want to talk to you about. I want to ask you at length. We got a lot of time this morning and thank you for the time. If you were advising Brett and Martha based upon your six months, what would you tell them are the major takeaways that you've learned as the chairman of the Select Committee? And how would you suggest they be turned into a question? Take your time, because that's a big that's a big question. What have you learned thus far in six months? And how would you convert that into questions for our candidates? Well, I think the overall thing to realize for these candidates and this advice is worth what they're paying me for it is that there is, in my opinion, something called the commander in chief test. It's not you know, you're not graded A through F. I think it's a pass fail endeavor, but it is absolutely critical. Put differently, I'm not myopic enough to believe that foreign policy or a particular issue of foreign policy is going to win the candidate candidate the election, but it could very well lose them the election. The final thing to say about the assumptions going into this when it comes to foreign policy is that the conventional wisdom is that it doesn't really matter from a political electoral perspective. And there's a lot of social science to support that. I just would say it doesn't matter until it does. It doesn't matter until things go haywire on the world stage and suddenly voters are looking to a prospective commander in chief to communicate, if nothing else, a sense of safety that I have the temperament and the plan to keep America safe in a very dangerous world, which leads, I think, to the answer your question more than anything else. I think these candidates need to communicate that they have a clear understanding of the threat we face in the Chinese Communist Party, the scale and scope of this threat. Why this isn't just a matter of some obscure territorial disputes in the South China Sea. This is indeed a global competition. The CCP has global ambitions. What happens in Xinjiang, what happens in Beijing is not going to stay there. They are intent on exporting their model of total techno totalitarian control, which leads to the second point that you need to find a way to contrast that threat to enduring the and inherently superior American values. And I do believe that this is a contest between two fundamentally incompatible systems of government. And it's unlike anything we've seen since, of course, the old Cold War. So communicating the stakes, communicating who we're dealing with in the nature of a Marxist Leninist regime that will stop at nothing to ensure that they survive at the expense of their own people. And that is the enemy of freedom around the world is the most important thing. In fact, I would say even more important than any particular policy position is just communicating that understanding of the threat and the prioritization of the threat, a recognition that as president, the most important issue that you will be dealing with as commander in chief is how to deter a war with the CCP in the short term and win a new Cold War with the CCP over the long term. So let's put that in the form of a question for Brett and Martha, because I think you're right, I am looking at, of course, I've always looked at every one of these debates as an audition to be commander in chief. Eventually, there comes a choice with the Democrat. But right now, when I vote in the Virginia primary, I will vote based on who will be the best commander in chief. And because that's what matter. 9 -11 matters. What is the W do on 9 -11 that matters? What does W do? The Afghanistan and Iraq. What does anyone do on any moment of crisis? What do they do in the situation room? Figuring out how to elicit that about China is a difficult thing. So you've been doing nothing but this for six months. And by the way, recap for our audience and Pittsburgh Steeler fans what you have been doing for six months, because they may never have heard of the select committee. This might be the first day they're listening to the audience. No acronyms or five dollars in the tip jar for food for the poor. Well, the speaker of the House created the select committee on the CCP to do two things. One is to communicate why this matters, why anybody in northeast Wisconsin or Pittsburgh or Ohio should care about the threat posed by the CCP, to shine a light on all the things that they're doing, whether it's threatening to invade Taiwan, whether it's establishing illegal police stations on American soil, whether it's infiltrating American universities or attempting to build spy bases in our near abroad, to explain why it matters and why your average American should care about it. The second thing is to identify policies and pieces of legislation that can pass even in divided government. In the 118th Congress, what is the center of gravity in terms of steps that we can take in order to put ourselves on a better position to beat the CCP in this short and long term competition? So that's what we've been doing. We've broken it down, essentially, as though this isn't a perfect organization into three main lines of effort. And I do think this reflects our overall lines of effort, our grand strategy against China basically has three main components. One is military competition. What are the things we need to do to deter a war over Taiwan in the near term, as well as ensure that we maintain our dominant military position over the long term? The second is what I call economic statecraft. How do we selectively decouple from China so they don't have a coercive leverage over us so they can't threaten, for example, to cut off the export of advanced pharmaceutical ingredients in order to bring us to our knees? And then the third line of effort is what I call ideological warfare or ideological competition, which is not only how do we rediscover a language for talking about American values and incorporate values and human rights back into American grand strategy, but also how do we better defend our institutions from Chinese Communist Party subversion, from something called United Front Work, from traditional espionage, things like that. So we aren't corrupted and divided from within, which is what the Chinese Communist Party is trying to do. Wang Huning, who's Xi Jinping's top lieutenant in the 90s, wrote a book called America Against America, in which he talks about Americans as greedy, factional. And that that title, America against America, I think reflects their overall strategy, which is to divide Americans against Americans and thereby make it impossible for us to compete. So we've been developing policy recommendations along each of those lines. We've put out two reports, one on military competition, one related to human rights. And we're going to be putting out further reports. So, you know, I think those are useful starting points for for candidates who want to prepare for a debate in terms of where's Congress at on this issue? Where's the bipartisan center of gravity? Where can you potentially build on some of our work? But that's what we've been doing for six months. It's trying to understand and explain the threat and then identify policy solutions that help us to combat that threat. How would you put that in the form of a question by Brett or Martha? Well, there's the overall prioritization question, you know, what is the biggest threat to American national security, which is a bit boring, but no, it's not that's not boring. That that is that is the question, isn't it? Shouldn't that just be asked? What is the number one threat to American national security and why? Shouldn't that be it? Yeah, I think that that's table stakes, right? That's a good diagnostic question. And then it also allows the candidates, if they want to use their full time and I forget how much time they get to really articulate the key distinction between them and the Biden administration, because if you read the Biden administration's national security strategy that they talk about China as a pacing threat, although I'm hearing now that the Pentagon is saying don't say pacing threat, say pacing challenge or competitor, because we obviously don't want to provoke the CCP for whatever reason. I've described this as kind of like a Voldemort phenomenon. There's this belief that the more more we say things like New Cold War or say that the CCP is doing bad things, that it will somehow become more true, which I think is absurd. I'll be right back. Sherman Gallagher is going to stay with me through the break and then we're going to bring him back and then we're going to do that again. And we're going to talk to him for 15 minutes this morning about this. I can't believe I'm doing that. 15 minutes with Mike Gallagher coming right at you, America. Stay tuned. I'm back now with Chairman Mike Gallagher. This is the segment between the radio segments, so you don't get to hear this unless you're watching it on YouTube or on the on the television station. Chairman, in terms of what level should we expect of our candidates knowledge? I see your Green Bay Packers thing yet. Do you know the Browns cleared 38 million in cap yesterday by restructuring Joel Bentonio and Miles Garrett's contract? We have no we have the most cap space in the NFL. We are the team to beat. We will see you. I actually I don't think you're making it to the Super Bowl this year. We are going to be in the Super Bowl this year and you are not ready for this. I'm glad this isn't on the air because this is a serious conversation. But you had to do that little thing. And I'll I'll just go get my brown sweater and just put it on during this segment like that. I'm going to wear this all the time now on the air because we're going to the Super Bowl. Chairman, do you know that we cleared Miles Garrett contract yesterday? You know what we do? Do you follow sports at all or do you just do ChaiCom stuff? I don't follow Brown's contract minutia. I'll confess. I'll confess that, though. I was I was yesterday. Someone said that I had the potential to coach for the Browns after I helped them with a constituent case issue, to which I said I would never coach for the Browns on an Intel. All right. Let me get serious again. I'm going to try to go off the off the rail. We'll get back on the rails. How many times have you guys held public hearings? Oh, gosh, I think 10 at this point, approximately 10. You had at least one set of war games. You have more war games coming. We do. We have we have at least one more coming up that's going to be more focused on economic and supply chain issues. OK. Do you think the candidates know anything about that? I really do want to try and use today to focus their attention on China. Do you think they know anything about what the select committee has been doing? Have you been approached by any of them? I think some do. It's part of the reason I wrote an op ed on this that appeared today in The Wall Street Journal just came out was an effort, maybe shamelessly, to draw attention to some of the things we're doing, because I think it creates some unique opportunities. I mean, to me, you know, the most and this reflects my bias in thinking that hard power is the most important variable on the world stage. I think a candidate who can articulate what we need to do to rebuild the military in general, but really the Navy in particular, which is, as you know, Hugh is really struggling right now. It needs to be our priority force in our priority theater. It's not. We're going backwards. There's questions about focus, warfighting prowess. You know, I wrote a report with the help of Admiral Montgomery about the lack of warfighting focus in the surface Navy with Tom Cotton, Dan Crenshaw and others. I mean, I think that's a massive opportunity for a candidate really to take the ball on defense and go a few layers deep beyond just peace through strength, military good, China bad. You go a few layers deep on that and sort of communicate that you have a coherent plan. Doesn't need to be super detailed. Doesn't need to be a 50 page white paper about everything we need to do. But just as an overall strategy for fiction, I'm going to get your comms team in trouble again. I haven't seen this plan that you and Cotton worked on. How can I not have seen this plan? Well, this is a year ago. You got to blame Cotton's comms team for this because he was OK. And usually it's good to blame Tom Cotton. He's on next hour. I'll do that. Is that widely available? Yeah, it's Cotton did it with four of us in the house. It was over a year, a year and a half ago, kind of in response to all of these ship collisions. Some of the reports that we were getting from active duty sailors and just the changes over the years to training in the surface Navy. We did a deep dive drawing on the expertise of Admiral Montgomery and others. I will give him about that in the next hour and I'll get a link and I'll make sure it's posted out to the candidates. Don't go anywhere. I'm coming right back with Chairman Gallagher. Welcome back, America. I'm Hugh Hewitt, Chairman Mike Gallagher of the House Select Committee on Engagement, the Chinese Communist Party returns. We talked during the break and we got off course because we did a little football trash talk. But now we're back on course. Chairman Gallagher, have you read this book? You had Kabul, the untold story of Biden's fiasco and the warriors who fought to the end. It it made me furious. It absolutely made me furious. Have you had a chance to read it yet? No, but my friend Commander Salamander, who's great in his podcast, Midrats, I highly recommend, just did a podcast with with the authors. So I listened to it. It's not the same, but I am now looking forward to reading the actual hard copy. Well, the end of the book, which I don't know of Commander Salamander got to because I didn't get to it and I talked to him for a long time. It's about how the chai comms came in as soon as we left. They have designs on Bagram. They know what the air raids mean. They know what the strategic minerals mean. It's just a great example of what happens when we retreat in the world. In fact, in the in the this kind of war book you had me read, I wrote down some notes. A retreat once started as the most difficult of all human actions to reverse. And they were talking about the retreat of the Norcs at that point. And then we would retreat later when they counterattack with the chai comms. But we retreated from Afghanistan and they have come in. Have you focused yet on what they're doing there? It hasn't been, admittedly, a subject of a hearing. You know, we have experts, you know, regional experts and Afghanistan experts. I think the key thing to bring it back to the the presidential debate, obviously the obvious thing to do is to connect the surrender to terrorists in Afghanistan, our abandonment of our position, our abandonment of billions of dollars worth of military equipment to then the collapse of deterrence in Ukraine and Eastern Europe, because I do believe that our feckless position in Afghanistan sent a clear signal of weakness to Vladimir Putin. And no wonder Vladimir Putin ignored all of our warnings leading up to the invasion on February 24th because we look so weak on the world stage and we allowed terrorists to completely take over the country. And I think also that has had a negative impact on our deterrent posture in in the Indo -Pacific, across the Taiwan Strait. You mentioned critical minerals. I also think this is a huge opportunity for presidential candidates to articulate a plausible path towards reducing our dependency on China for critical mineral processing. They control 90 percent of the processing. Right now, I think our attempts to wean ourselves off of our to to establish some form of semiconductor manufacturing independence are not going to be successful, in part because the Biden administration has placed so many onerous regulations on grants for chips, fabrication facilities. But if a Republican candidate, particularly one with a business background or with a gubernatorial background, came in and said, here's our strategy when it comes to advanced pharmaceutical ingredients, critical minerals and rare earth processing, tie that to a robust domestic economic agenda. That's a massive opportunity for someone trying to pass the commander in chief test, because the reality is we are going to have to reclaim our economic independence from China in key areas. The progressives are experimenting with one way to do it. We need to identify a way that is fundamentally free market, but not but nonetheless achieves the actual goal of reducing our dependency on China. Chairman Gallagher, there's only one veteran on the stage, Ron DeSantis. Mike Pence has got a son and a son in law on active duty. Of course, Nikki Haley's husband is deployed. Those three know about this in terms of of why is China a threat? Is it a fair question to ask? Why is China a threat? What is it that worries you about China? Is that a fair question? If so, how would you answer that or suggest they answer that if you are one of the people on the stage? Well, first of all, I do think DeSantis has been really good on China and probably the best in the field. I was watching the forum that they did in Iowa. I forget what it's called, the Iowa Faith and Family Forum. And he proactively brought up China as an issue and talked about what he's done in Florida to combat the threat, talked about the threat in global terms. And so the most of the discussion focused on Ukraine. And I understand that that's more of a politically divisive issue on the stage. And so there is a you know, I think the moderators will want to identify the differences between the candidate thus far. Governor DeSantis has been talking in clear and unapologetic language about why the CCP is a threat and what he would do to combat it, which is greatly appreciated. More to your point, as a Navy veteran, I think he has a huge opportunity to be the Navy guy, be the guy who's going to rebuild the Navy and put it in a position where it can it can deter Xi Jinping from attempting to achieve his lifelong ambition was to take Taiwan by force. So to answer your question, Vivek just told me last week, we'll give them Taiwan after we achieve semiconductor independence. In other words, Vivek understands Taiwan is important for its semiconductor. Your colleague on the committee, Ro Khanna, tweeted at me last night when I was already offline that that doesn't do the trick. That's not why we're worried about Taiwan going down. Who's right? Well, obviously, our interests in Taiwan extend far beyond semiconductors. Our interests predate Taiwan's emergence as a semiconductor powerhouse. And if the concern from Vivek and I think it is that our dependence on TSMC for semiconductor manufacturing needs to be eliminated, I just would say two things. It's highly unlikely that we're going to achieve semiconductor independence by 2028. TSMC is investing far more money than the CHIPS Act is investing right now. Even under a Republican president, we would struggle to wean ourself off our dependency. But if the CCP had control of Taiwan, they would still be able to hold the rest of the world economically hostage. And that is the issue. Semiconductors or other or some sort of domain of economic competition. If they had Taiwan, they would be able to completely dominate the region through which trillions of dollars of international trade go. The other thing I would say, it's I mean, we got to go to break. I'll come back to go to break. We'll be right back with Chairman Gallagher during the break and then one more segment beyond. Don't go anywhere. America, I'm Hugh Hewitt. Portions of The Hugh Hewitt Show are brought to you by Food for the Poor. So I'm back with Chairman Gallagher, Chairman Vivek's answer to that is I'm going to get India to cooperate. And if Taiwan closes the Taiwan Straits, we're going to close the Malacca Straits. Ro Khanna says that's that's crazy. That doesn't work. I don't know what the answer is, but I know what Vivek has told me. I don't think he agrees with you, but I'll let him speak for himself. I don't want to put words in his mouth that we have to worry that much about the Taiwan Strait. Well, he's obviously very smart. I would say this with Marxist Leninist regimes, their appetites grow with the eating. So I think it would be a mistake to think that if we just surrender Taiwan on a date certain that we wouldn't have to worry about the problem. If they're the dominant regional power, they're one step closer to becoming the dominant global power. And that, I think, is the answer to your earlier question. Why? Why is the CCP a threat? Because they're trying to destroy our geopolitical position. Primarily by convincing us to destroy ourselves, they believe, as we mince words about whether they're a competitor or an adversary, they certainly believe that they're in an existential war with the free world led by America and that China will win, rendering America and our constitutional system of self -government subordinate, humiliated and wholly irrelevant on the world stage. So you can sort of think of it as as an assisted suicide. You know, they're trying to expedite our collapse. They provide the chemicals, fentanyl, the collapse in prosperity. Covid, IP theft, economic warfare and the self -loathing and depression via political interference and information warfare. So I think the the the threat would not stop after Xi Jinping had taken Taiwan. I think it would only expedite and become greater. So if you could read Xi Jinping's mind, what is he thinking about us? What does he want to see happen to us? I think he wants us to look inward and to abandon our position on the world stage and to be consumed with internal political battles. I also think he likes seeing us embrace this almost the CCP's narrative that America is an evil country. America is a neo colonial racist hellscape. I mean, this is CCP propaganda that a lot of Americans have embraced. I think ultimately he wants us to lose faith in ourselves as a force for good in the world. And ultimately, over time, he thinks the rest of the world is going to Finland dies more in the CCP's direction as an alternative model of government and world leadership, in part because America has lost faith in itself. That's why I think primarily the hard power is the most important variable. This is an ideological competition overall. And ignoring the role ideology plays in the competition is a fatal flaw. And so we need to find a way to press the candidates on that as well. You know, the we got two minutes before we come back. The ideological competition is quite simply not discussed. And I don't think our media is familiar with it. They're not stupid. They're ignorant of the ideological. They don't even believe it exists anymore. Chairman, have you run into that? Do your Democratic colleagues believe that there are such things like Leninist and that that the 20th century ideological competition is back with a vengeance? Well, I think for two and a half decades, we tried to take the communist out of Chinese Communist Party, and this belief persists that, well, they're not really communist. They're not really Marxist. They've embraced forms of capitalism and they're they're rational actors. And I think this is a dangerous way of thinking to go down, particularly under Xi Jinping. The party has embraced its Marxist Leninist roots. Xi's spirit animal is, in fact, Stalin. He looks to Stalin for guidance on how to operate. And so a candidate who understands that and can articulate that, I think, has a massive opportunity to distinguish themselves. The Democrats sort of come at the ideological competition through human rights. And there are a lot who genuinely believe in the cause of human rights. And though there are times when we have to prioritize between security concerns and human rights, this is when dealing with China, that's not an issue at all. We're coming right back. Stand by, chairman.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Nikki Haley calls for trial of former President Trump to be moved out of D.C.
"Welcome to today's podcast, sponsored by Hillsdale College, all things Hillsdale, Hillsdale .edu. I encourage you to take advantage of the many free online courses there. And of course, listen to the Hillsdale Dialogues, all of them at Q for Hillsdale .com or just Google Apple, iTunes, and Hillsdale. Morning, Gloria America. Bonjour, hi, Canada. It's Hugh Hewitt from Studio North. Good morning. I'm pleased to welcome back former UN ambassador, former governor of South Carolina, and Nikki Haley. Ambassador Haley, good morning. Welcome back to the Hugh Hewitt Show. Good morning from Manchester, New Hampshire. Oh, you're not too far away. I'm up north. Quite a storm going on right now. Ambassador Haley, I want to begin. I've complimented the former vice president, Pence, because he has a son and son -in -law on active duty. I've complimented Ron DeSantis. He's a veteran. You are a veteran military spouse. I believe your husband is deployed as we speak, correct? Yes, he is currently deployed. Okay. So is he an officer? Yes. Well, I am talking, I just talked with Mike Gallagher about this. Senator Tuberville has a hold on more than 300 general officers, colonels who want to promote to general, captains who want to promote to admiral, and then everyone, one star to two star on up. We don't have a commandant in the Marine Corps. We do not have a chief of staff of the army for the first time in 200 years. More than 300 vacancies. It's a mess. And I know that the Pentagon has violated the Hyde amendment and I know you're pro -life, but would you call Senator Tuberville and ask him to stop screwing up the military because we're on the brink of a conflict with China and we cannot have this. Well, you know, I mean, look, this just goes to show how messed up our country is. I mean, you look at the fact that the Department of Defense shouldn't be doing this in the first place, but there's got to be other ways to go about doing this. You know, I mean, in a time where our recruitment's 25 % down and, you know, 80 % of those recruits typically come from military families and military parents are telling their kids not to go into the military. It's because they don't feel like anybody's got the military's back. They look at the fact that 33 ,000 veterans are homeless. They look at the fact that they're, you know, dangling these promotions out there and using them as fodder. I mean, they're looking at the fact that people don't see these, you know, men and women who serve as heroes anymore, and that's sad and it's terrible. And, you know, I appreciate what Tuberville's trying to do. I do. Like, it's totally wrong that the Department of Defense is doing this, but have we gotten so low that this is how we have to go about stopping it? I mean, at what point can we not go and have, you know, congressional members go to the Department of Defense and say, look, you have to go through Congress if you're going to do this. You can't suddenly, you know, decide you're going to do this. Don't hold, you know, don't make us have to do this. I just think it shouldn't get to this point. And, you know, for my husband who's serving overseas and for all those military men and women, the idea that this is what they're looking back and seeing, and this is what they are dealing with on top of the stresses of keeping themselves safe and being away from their families, it's wrong. You know, Ambassador Haley, thank you for saying that. I talked to an officer last week who told me not about himself, but about a friend who is facing a one -year deployment in tough circumstances. I don't know if he's going to Djibouti. I know where they're going. There are some tough places to serve a year. And it's not Navy because usually they do six -month and nine -month deployments, but a year in a tough place, but they can't start. So the family's in limbo. You've been there, right? You know what that month is before deployment. Now that month is six months. Now it's for the family, but it's incredibly stressful for the service member because their life is on hold. And you're, you know, it's enough to try and get ready for something like that. But, you know, for any military family, they can agree with me that once they have had the assignment that they have to go, they just want to go and get it over with. They just want to go ahead and get it done. And, you know, it's just, it goes to the heart of we don't treat our military men and women, service men and women well. We don't treat our veterans well. And, you know, my parents always taught us, you take care of those who take care of you. And I think it's shameful from the way that, you know, we're making veterans have to wait 29 days to get a doctor's appointment to the idea that, you know, you're dealing with a department of defense that's not focused on making sure that our military has the equipment, ammunition up to date that they need. Instead they want them taking gender pronoun classes. We've got a serious problem when you've got China threatening us, Russia threatening us, Iran threatening us, and we're going to sit there and play games like this. It's just wrong. On a political level, I also think it's completely disastrous for anyone on the Republican side, the party of defense, to have a Republican senator doing this, but I'll come back to that. China ran 11 ships in concert with Russia down past the Aleutians last week. I said last night, I'm Brett Barash, I want us to send 11 ships to the Taiwan Strait in response. I don't want to, you know, they didn't come into our waters, but I think we're on the brink of a conflict with China, Ambassador Haley. What do you think? I think that we should make sure we're not in a conflict with China, and I think that President Biden's doing everything he can to make sure that we walk into it. You don't run scared from China. You have to be strong. You have to make sure they know, you know, what we're focused on. We know this all started with Afghanistan, but it didn't end with Afghanistan. We've continued to see Biden go and send Blinken over there and try and make nice. Send Yellen over there, try and make nice. Send John Kerry over there and try and make nice. And in all these things, why are you doing that when they literally are responsible for killing 75 ,000 people last year because they're sending fentanyl across the border? Why are you doing that when they, you know, basically send a Chinese spy balloon over our airspace and they're buying up land next to our military? They've bought the largest pork producer in our country. You know, all of these things that they continue to do, why are we doing that? We now have malware that is in our systems that is going to basically, we don't know where the code is, but we know it's there, that's going to disrupt our power grid, our communications, our water supply. That's what China's done. So quit playing nice with them. And I think that's the problem is, you know, America has been too nice to these people that want to kill us. And that's just not the way you handle it. You handle it with strength. You let them know what you expect of them and you respond and let them know there's a price to pay if they do anything to challenge, threaten us, or any of our allies. Ambassador Haley, like I said, 11 Russian and Chinese ships sail close to the Aleutians, but not into our water. It's the third straight year China has done this. Every time we send one ship, President Biden and Secretary Austin send one ship to the Taiwan Strait, the Chinese Communist Party goes nuts. I like the fact they sent 11 ships near us so that we can just flood the zone in the Taiwan Strait. Would you order that if you were the president in response to this? Well, this is actually in response to the fact that we had exercises going on in the Taiwan Strait, that we had exercises going on in the, you know, South China Sea. That's why China's doing this is because they're upset. But understand, you look at a map and see how close they came to Alaska and you combine that with the Chinese spy base that they're putting up in Cuba, which don't think that they won't send Chinese military there soon. You add that and look at how close they are to our soil. And if that doesn't send a chill up every American's mind, I don't know what will. So yes, if we need to go and put, you know, ships there to show them what we're doing, but it's not so much that you do a tit for tat like that. It's fine. We can do that. But what I'd rather us do is have America strategize to get strong. You know, the fact that China has the largest naval fleet in the world. They have 350 ships. They'll have 400 in two years. We won't even have 350 in two decades. Let's focus. The one thing that will scare China is to watch us strengthen our military because they know that we have the best military in the world. If they start seeing us modernize our equipment, if they start seeing us focus on our navy, our air, our, you know, to make sure that we're doing artificial intelligence, cyber, space, all of those things, they will suddenly start to realize that we need business. Right now, they're just not scared of us.
AP News Radio
China flies 38 warplanes near Taiwan, 6 navy vessels in area
"China is flexing its military muscle around Taiwan. I'm Lisa dwyer with the latest. The Taiwanese defense ministry says China's military flew 38 fighter jets and other warplanes near Taiwan, the latest display was the largest since Beijing held exercises earlier this month in response to a meeting between the island's president and U.S. lawmakers. 6 navy vessels were also spotted as part of China's campaign of intimidation against self ruled Taiwan, 19 of the aircraft, flew across the midline in the Taiwan strait as a drone circled the island. The island has never been part of the People's Republic of China, but Beijing says it must unite with mainland by force if necessary. I am Lisa dwyer
The Hugh Hewitt Show: Highly Concentrated
Congress to Televise War Game on Taiwan Crisis
"I want you to tell us as much as you can. I hope it's televised. I doubt that it is. But I would watch that. I would actually pull up the chair and watch the committee to a war game. What is happening? We are, it is going to be televised. It's not going to be in real time. It's going to be the whole thing's going to be filmed, and then we're going to take a portion of it and it'll be it'll be televised the next day, I believe, depending on how quickly they can cut it up. So I think it'll be a fascinating insight just into the challenge we face across the Taiwan strait, as well as the different tradeoffs that members are thinking about and what we can do ultimately in this Congress to enhance our deterrent across the Taiwan strait. One thing that really troubled me yesterday when we had a hearing with representatives from indo Pacific command as well as U.S. forces, Korea, I asked the commander in a Pacific command if he was concerned about the depth of our magazine capacity, IE that we would sort of run out of critical munitions in the event of a war. And every war game I played and I played a few of them now, that happens. And you talk to admiral Mark Montgomery, you talk to our mutual friend, Jerry Hendricks. That's probably the top thing they say. It's just that we don't have the requisite number of long range anti ship missiles and SM 6 and other key weapon systems we need. But the end of Pacific commander responded saying he's not too worried about that. He's not too worried about our ability to respond to deter and deal with that contingency. And that shocked me.
AP News Radio
Taiwan's Tsai says China not being 'responsible' with drills
"Taiwan's Tsai says China is not being responsible with military drills. President Tsai ing Wen has condemned China's military drills in the Taiwan strait, saying China did not demonstrate the responsible behavior of a major Asian nation. China's air land and sigils mostly ended Monday were retaliation for size meeting with the U.S. House speaker on her tour of Taiwan's official and unofficial allies, so she represented Taiwan in the world, Taiwan's self ruled island that China claims as part of its own territory, as of Tuesday morning, Taiwan's defense ministry says 8 Chinese navy vessels were still in the waters surrounding the island. I'm Charles De Ledesma
The Breakdown
Is the U.S. Empire Crumbling Before Our Eyes?
"This week is beginning pretty quiet on the crypto front. The FTX bankruptcy estate released a report with not a ton of new info or things that we didn't know, just more lurid details. Now I would say all in all, people's heads are definitely on the bigger issues swirling around. Take for example a post that went quite viral over the weekend from Adam Driver on Twitter, whose profile reads not the Adam Driver from Star Wars. The thread kicks off the empire is imploding and goes through more than 30 recent stories all relating to the supposed collapse or at least radically shifting landscape of the American led global order. A few of atoms examples. Number three Saudi openly divorces USA and ties nuptials with Iran and China. Number four D dollarization trade agreement signed. Number 5 Taiwan strait controlled by China. Number 17, China domestic chip manufacturing advancing rapidly. Number 18 American banking system on brink of collapse. Number 20, mass protesting in Franks, Macron struggling to keep control. 25 swift system alternative developed by Russia slash Iran increasingly being adopted. 26 an unusual increase in train derailments, factory explosions, chemical spills and contamination events across the U.S.. Number 30, demand for Zimbabwe's gold coin skyrocketing following calls by African leaders to stop using the USD as a primary currency. Now, I don't totally agree with all of the characterizations of events in the thread, but that sort of secondary to the broader point, which is that the collection of these things under this framework of the empire is imploding clearly has resonance. So we're going to use that as a jumping off point today for a bit of a geopolitics primer and catch up. And let's start on the themes of trade, China, and changing alignment. Last week, French president Emmanuel Macron and EU commission president Ursula von der leyen visited Beijing to meet with Chinese president Xi Jinping. The two European leaders had somewhat diverging interest during their visit. Borderland represented the concerns of the European Union, articulating that continued friendly relations with China were contingent on Beijing refusing to provide material support to Russia in a speech last week ahead of the visit, she said that China's interactions with Russia quote will be a determining factor in U China relations. Underlying stress the goal of quote derisking trade with China, a somewhat softer touch than the American rhetoric of a decoupling, but still strong enough to convey her concern for protecting European interests.
AP News Radio
US: No reason for China to react to Taiwan leader stopover
"The U.S. is trying to tamper any anger from China over an upcoming stopover by Taiwan's leader. I'm Lisa dwyer. The Biden administration is stressing to China that upcoming unofficial stopovers to the United States by Taiwan's president Tsai ing Wen should not be used as pretext by Beijing to increase aggressive activities in the Taiwan strait and that such transits are routine. Tsai is tentatively scheduled to transit through New York on March 30th before heading to Guatemala and Belize. She's expected to stop in Los Angeles on April 5th on her way back to Taiwan. Following an August visit by then House speaker Nancy Pelosi, Beijing launched missiles over Taiwan, deployed warships across the median line of the Taiwan strait and carried out military exercises near the island. Beijing also suspended climate talks with the U.S. and restricted military to military communication with The Pentagon. White House National Security Council spokesman John Kirby said that the plans stopovers are business as usual and consistent with long-standing U.S. policy. I'm Lisa dwyer
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"China's response to the latest U.S. aid to Taiwan is that it helps to destabilize the region at Baxter has global news in the 9 60 newsroom in San Francisco Ed. Yeah, Brian, we've heard this before, of course, but this is a new incident. This is the U.S. announcement that the U.S. has pledged an additional $619 million in F-16 munitions and other supplies to Taiwan. Now Xinhua reports the move seriously violates the one China principle and three China U.S. joint communiques. It says a move connives and sports support separatist seeking Taiwan independence and that it undermines peace and stability in the Taiwan strait. Meanwhile, Taiwan's defense ministry says more Chinese fighter jutes jets flew against again yesterday in the southwestern part of the islands air defense identification zone. U.S. Secretary of State Antony Blinken says he's had a very direct conversation with Russian foreign minister Sergei Lavrov, blinken says Russia needs to stop the aggression in Ukraine, get back to the salt nuclear pact, which he says the U.S. is ready to engage in those talks anytime. I told the foreign minister that no matter what else is happening in the world or in our relationship, the United States will always be ready to engage and act on strategic arms control just as the United States and the Soviet Union did even at the height of the Cold War. Now Russia and China were the only two G 20 members to vote against the resolution regarding Ukraine, blinken says feels there's a consensus to work together in the G 20, he says he hopes China can see what's happening. I think we see broad consensus across the G 20 to work together to act together and to make commitments together. Now, Ukraine and Russia dominated his scene at G 20, Senate majority leader Mitch McConnell, I'm sorry. He was Chuck Schumer is making the argument the Republicans want to dump people from social security. We have fought and struggled to get social security for people. It's harder and harder for them in their retirements to exist. And they want to cut people off social security. But senator Rick Scott, a balance of power, smiled and said that is a lie. You know, we pay
AP News Radio
China protests US surveillance plane's Taiwan Strait flight
"China says it's closely monitored the flight of a U.S. surveillance plane through the Taiwan strait, accusing Washington of having deliberately disrupted and undermined the regional situation. The People's Liberation Army's eastern theater command says in a social media posting Chinese forces organized to keep an eye on the passage of the P 8 a Poseidon anti submarine patrol plane and all matters were in hand, it adds. China regards self ruled Taiwan as its own territory to be brought under its control by force if necessary and views the passage of foreign military ships and aircraft as deliberate snubs and provocations. The PLA command is accusing the U.S. of having played up the flight, which it says endangers peace and stability in the Taiwan strait. I'm Charles De Ledesma.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Why we launched the big take. It's a daily podcast from Bloomberg and iHeartRadio that turns down the volume of it to give you some space to think. I'm west kosova. Each weekday I dig into one important story and talk about why it matters. Listen to the big take on the iHeartRadio app, Apple podcasts, or wherever you listen. This is balance a power on Bloomberg television radio. I'm David Westin. Well, as we go into 2023, the U.S. Military has a lot on its platter. And to take us through what some of those challenges and maybe opportunities are, welcome Mark Esper, who served as Secretary of Defense under president Trump, and he wrote about his experience in the book a sacred oath memoirs of a Secretary of Defense during extraordinary times. Mister secretary, thank you so much for being back with us. Happy holidays. Let's start. We usually talk about Ukraine. Let's start over with Asia and China. Because there have been some developments just in the last 48, 72 hours, actually, with some of Chinese military operations around Taiwan. Yeah, look, I think we've been rightly focused on Ukraine over the past week, given president zelensky's historic visit here to Washington and his speech before Congress, but a lot has been happening in Asia. We had, in the last few days, China flew 72 airplanes across the midline of the Taiwan strait, threatening Taiwan once again. But you had other developments as well, Japan announced that would double its defense budget from 1% of GDP to 2% in the next 5 years. That's really big. And they also announced that they're going to acquire counter strike capabilities. So think about hundreds of tomahawk missiles. And this is a fundamental again change in how they understand and interpret their own constitution. So clearly they are gearing up for what's happening in Asia with the China threat. And at the same time here in the last 24, 36 hours, Taiwan announced that it would reverse its policy of a four month conscription for young Taiwanese men and increase it back to a year and increase its training. And of course, we had in the appropriations bill, the $1.8 trillion appropriations bill, billions of dollars for Taiwan arms. So a lot happening in that part of the world, you know, in my memoir that you mentioned, David, I described northeast Asia as the geostrategic flash point of the 21st century, and you just see things moving around right now that give you a lot of concern. And we didn't even talk about North Korea and South Korea. And mister secretary, I mean, you've actually done it. I've just read about it. My understanding is one of the best ways to avoid a war is to make sure you're prepared for it. And it really does raise the question. How prepared is Taiwan for increased pressure at least, if not a war with China? Because certainly president Xi has not been very shy about saying he's willing to do that if necessary. Well, they're not prepared enough. I was in Taiwan last year just before speaker Pelosi's visit. And I met with president sign her cabinet and I outlined a number of things that I thought they needed to do, which included increasing dramatically defense budget, adopting an asymmetric warfare defensive approach. Increasing conscription for at least up to a year and then stockpiling food and weapons and improving the training of the reserves. A number of things. They seem to be on that path. That's a good thing. Washington is doing similar things with providing arms and additional training. And now I think we need to get more of our allies more of our Western Allies on board to support Ukraine because look, it's China threatens the entire geopolitical order in terms of what it wants to see how it wants to overturn international rules of the road. So it's important that we all stand firm and present a solid defense against Chinese aggression. Well, if you can, consistent with your other obligations, can you give us a peek into exactly how you plan if your Taiwan or the U.S. helping Taiwan for a possible conflict with China? What kind of conflict are you preparing for? Is it an invasion? Is it basically an embargo where they've put a fleet around the island and cut it off? What do you prepare for? Well, the worst case scenario is always a Chinese amphibious invasion of Taiwan, which is a very, very difficult operation. I don't believe the Chinese could really pull it off at this point in time. But the next thing and in some ways more difficult would be kind of what they did this past summer where they had an air and missile embargo, if you will or blockade of Taiwan where they were shooting missiles into the waters or near the waters of Taiwan's major ports and could pretty much shut down the country if they wanted to, which is why when I met with the Taiwanese last summer we talked about the importance of stockpiling food and water and supplies and resources in case that happened. But look, again, I think it gets back to the Taiwanese people preparing their defenses. They we all learned a lot from Ukraine's stalwart courageous defense against Russia. And the lesson was, a smaller country that's well armed that's willing to fight and they can mobilize its people can really beat back a tougher, bigger enemy. And that's exactly what Taiwan faces. And I think that's the lesson they learned. And I hope that's what Xi Jinping and Beijing has learned as well. Mister secretary, put in perspective from a military point of view, the significance of some of the export controls now on semiconductors for China. We have a tendency of Bloomberg to regard as a commercial issue, which it certainly is. But as I understand it, it's also very profoundly a military issue given the way armaments are prepared now. Microchips are so incredibly important. Oh, absolutely. You look at our missiles. They will contain hundreds of semiconductors, hundreds of chips. And of course, many of them are the high end chips that Taiwan, TSMC, and others produce. And so it's important that we have that supply intact. Number one, and we learned that from COVID when I was a DoD in 2020 about the importance of intact reliable supply chains, but also equally important. The flip side of the coin is making sure that China doesn't get access to those same type of high end computer chips, semiconductors that will be instrumental in improving their military capabilities. Their ability to operate in space underwater in cyberspace, et cetera. It's the same things we're denying the Russians right now. So look, I think the chips act was very important. It was supported by the previous administration and this administration. I think there are other things that we need to do as well, such as rare earth materials, strategic resources such as those to make sure that we have safe reliable supply chains that we can count on when times get tough. And finally, mister secretary, let's turn to Ukraine, which we've talked about in the past. As you say, there was that dramatic speech from president zelensky before the joint meeting of Congress. And I wonder what you took away from that. And whether, in fact, the United States should be perhaps changing its attitude toward Ukraine because certainly president zelensky was not shy about saying it's really appreciates what he's gotten, but he leads an a lot more. Things like fixed wing aircraft, things like longer range missiles. His visit was very important his speech was very impressive. It sent a message to the Russians, of course, that the United States was standing behind them, particularly as we head into the winter months right now. And it was a chance for Biden, President Biden to message the American people and for us to message the allies. And look, I think we've done a good job, but we could be doing so much more. They do need fixed wing aircraft. They do
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Well, depending on how many candidates emerge for the job of UK prime minister, there could be a new one named as early as Monday at Baxter as in San Francisco with the details in. Yeah, they say they're not fooling around. They want this done quickly this after prime minister. Liz trust spoke with a king and resigned today. Given the situation, I can not deliver the mandate on which I was elected by the Conservative Party. So under the rules that have been set up by the party and there's new rules as of today, no more than three candidates can be in the running. This is mathematical figure. Bloomberg's guy Johnson. 2 p.m. Monday, you've got to have a hundred nominations from your peers as an MP if you want to proceed to the first round effectively of this whittling down process to figure out who is going to lead the Conservative Party by essentially the next prime minister. Now, there will be an indicative vote if there are two or two candidates you're going to have one vote and we will then have the result of that announced. If there are three candidates that come through that process, then they will have another vote that evening to whittle it down to two. So say there are two people left without a dropout. It is possible that the grassroots do get a vote on it and then we will have the results of that vote on Friday. So either going to have a new prime minister on Monday or a new prime minister next Friday. All right, trust says she will stay on until the new p.m. takes over. U.S. Secretary of State Antony Blinken says his main focus on building an international coalition to stand up against China now starting with Taiwan says the world is at an inflection point. This is an inflection point for the world. The post Cold War area is over. And there is a competition underway to shape what comes next. China would like to shape what comes next. And it wants a world order, but one that's profoundly illiberal. We want to roll order that is liberal. Yeah, blinken says the U.S. is not looking for conflict with China, but China must understand that freedom of commerce with Taiwan and international transit through the Taiwan strait is a matter of survival for the global community as a whole. Chinese officials debating whether to reduce the amount of time people coming into the country must spend and mandatory quarantine, the government is looking at cutting the quarantine period to two days in a hotel and then 5 days at home. In San Francisco, I'm at Baxter, this is Bloomberg art. Thank you, Eddie. Let's get to Dan Schwartzman. We're looking at global sports here on daybreak, Asia. Is Ronaldo almost on his way out from Manu. It's an interesting situation to say the least Doug man you leaving Ronaldo off the roster for Saturday's match versus Chelsea this after the 5 time blunder winner left the bench before the final whistle in Wednesday's
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"200 in Sydney is down 1.9%, and the cost be down the most 2.4% in the early going. And I mentioned strength in the dollar now up about a third of 1% that adds to the half a percent gain. We saw in the Friday session on Wall Street. Dalyan won 38 24, the Euro at 99.41 U.S. since the Aussie, 68.7 U.S. cents. I'll take a quick look at yields here, the yield on the ten year 3.09%, so we've had a 5 basis point spike to the upside this morning, and the two year is at three 45. WTI $92 and 99 cents. All right, let's get a look at some headline news. We mentioned this morning two U.S. Navy warships sailing through the Taiwan strait, the navy said the cruiser is conducted a transit beyond the territorial borders of any state. Widespread flooding in Pakistan, killing more than 1000 people, and China's Sichuan province had restored most power supplies for industries and businesses. And that is a check of news. Let's get right over now to Juliet solly. Thanks, Brian. Well, bank of Korea governor rician says he would join fed chair Jerome Powell. In bolstering the fight against inflation, if presses remain out of control. Gonorrhoea spoken in an interview with Bloomberg's Kathleen Hayes at Jackson hall, Wyoming, and here is part of that conversation. So let's start with J Paul's speech. It was considered very hawkish. Basically he made it clear that he is going to keep hiking rates. That's job number one. Not looking to the side about soft landing, just moving full speed ahead. What does this mean? Is it going to make a difference? If the fed's continues to aggressively raise race, does that put you in a position where maybe you have to get aggressive too? We are not exactly targeting the exchange rate itself or the interest rate gap is in itself is not our prime policy objective. But definitely the higher interest rate in the United States will have depreciation pressure to clear. And that that depreciation will increase our inflation rate. So I think too large difference between interest rate differential won't be ideal, but we have to allow exchange rate to move. And we have to focus on our own inflation rate through the indirect impact of exchange rate depreciation. You have earlier said that the bank of Korea rate will reach two and three quarters to 3% by the end of the year. You said that's reasonable. How does that look to you now? Equally reasonable, or maybe even a little higher. Yes, as I mentioned, I think that the check powers remark is in line with our expectations. So I don't think we need to I don't think we need to revise our projection at this moment. If the inflation rate were to stay stubbornly above 5% next year, would you continue to opt for the more gradual hikes? Or would you consider doing another 50 basis point hike? You know, at this moment, I don't want to pre commit because given this uncertainties, I think our decision has to be data based. But if you mentioned that if our inflation rate continued to be well above 5%, like chairman Powell, then we clear bank of Korea should also prioritize the price stability. Seems like markets around the world just want to get ahead of central banks. They are going to raise rates, but boy, then they're going to start cutting them. In fact, recently market rates in Korea have been reflecting this expectation that rates could start coming down in 2023. Is there any possibility of that? I think that it depends on how persistent our inflation will be. As you mentioned before, if our inflation remained around 5%, I think the normalization
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Says he's confident the Artemis one test flight will be successful. The Artemis one rocket is on the launch pad, ready for liftoff on Monday. The mission is the first step in getting American astronauts back to the moon. In an interview with meet the press, NASA administrator Bill Nelson said, part of a test flight is knowing that not everything will go as expected. Now sun added, as long as the heat shield survives, he will consider it a successful test, and U.S. worships are passing through the Taiwan strait for the first time, since Nancy Pelosi's visit, the U.S. Navy says two cruisers, the USS antietam, and the USS chancellorsville passed between Taiwan and China on Sunday, while carrying out an ongoing operation. The navy says the Taiwan strait is quote beyond the territorial sea of any coastal state, China considers Taiwan part of its territory and keeps a close watch on ships, passing through the strait. And that's the very latest. I'm Jim four. What a great day of baseball on Saturday for the mets. Old timers day was a big hit. On the field, the mets got a great pitching performance from David Peterson 6 innings of four hit ball. Brandon nimmo had a leadoff Homer and an RBI double and the mets in the Clubhouse with a three zero win over the rockies. It got better after that because the Cardinals were playing the braves in St. Louis, Atlanta was in the 9th inning with a 5 four lead and the braves flipped it around and they end up knocking out Atlanta 6 5 the Cardinals scoring twice in the 9th inning to get the win. So it all adds up to a three game lead now for the mets over the braves in the national league east. So a feel good day for sure for the Met's preseason football is on the schedule tomorrow for the Giants and jets. They will play each other 1 o'clock kick at met life. Tennis news, the U.S. open is right around the corner and Venus and Serena Williams will be playing doubles together at the U.S. open. It starts Monday, it's the first time the sisters have played at a major together since the French Open in 2018. Liv golf news, this is not a big surprise, open champ Cameron Smith. And a few other PGA Tour players expected to make that transition over to Liv golf that was confirmed to ESPN on Saturday. College football starting in a few places on Saturday. The game overseas was the biggest one with northwestern battling Nebraska in Dublin. The cornhuskers lose again a fourth quarter lead that goes away. They lose 31 28. That's your Bloomberg sports update. I'm Dan gutowski. You're listening to balance of power with David Westin on Bloomberg radio. Doctor Anthony Fauci announced this week he would be leaving after a 54 year career with NIH. I caught up with him for an extended conversation about his career what he has done and what he has learned, and we
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"We go back to Denise Pellegrini in the Bloomberg newsroom. Pay their Carol the Biden administration announcing another $1 billion in military aid for Ukraine and this will be the biggest delivery yet straight from Defense Department stocks. New York Democrats Senate majority leader Chuck Schumer taking a victory lap after passing that inflation reduction act we've been talking about yesterday. What was Schumer's secret weapon you might wonder at getting this past and getting it all together here's how he put it with reporters. When you have to get something done like this in a caucus that is so, so broad, as I say, from Bernie Sanders to Joe Manchin, you have to listen to members and respect them. And shimmer also slamming Republicans and minority leader Mitch McConnell for refusing to work with Democrats. China extending live fire military drills they were to have ended Sunday when asked about a Chinese foreign ministry spokesperson accusing the U.S. government of orchestrating speaker Nancy Pelosi's visit to Taiwan calling it a reckless move and claiming the current tension over to the Taiwan strait, a single handedly created by the U.S. and undersecretary of defense for policy colon call talking about it. He told reporters that The Pentagon, U.S. policy on Taiwan hasn't changed. What's important for us right now is to make sure that Beijing understands that our forces in the region will continue to operate to fly to sale wherever international waters allows that includes the Taiwan stray and Taiwan also saying that China's sanctions won't impact it too much economically. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"From Bloomberg world headquarters, I'm Charlie pala 13 minutes to go ahead of the closing bell with the Dow now hire by 64 points we've got the S&P down 9 little change there now down by about two tenths of 1% while NASDAQ is down 76 to drop there of 6 tenths of 1%. Jobs Friday treasury sank after data showed a booming labor market that might prompt the Federal Reserve to raise rates sharply at its next meeting, the strong jobs report validates the fed's view of a resilient economy that can withstand additional interest rate hikes. Right now the ten year yield 2.82% of two year 3.24% spot gold down 16 down 9 tenths of 1%, Bitcoin 22,918 Bitcoin upright now by 1.8%, crude is down two tenths of 1%, a barrel of West Texas intermediate crude right now, 88 35 a barrel. So again, recapping equities, trading mix, we've got the Dow higher, S&P NASDAQ, they are both lower the S&P down two tenths of 1%, the NASDAQ composite index down by 6 tenths of 1%. I'm Charlie pellet that is a Bloomberg business flash. Thank you so much for that update Charlie pellet. It's three 48 on Wall Street. The following is an editorial from Bloomberg opinion. This editorial was written by the Bloomberg editorial board. House speaker Nancy Pelosi said she visited Taiwan this week as a show of solidarity. But if the U.S. wants to preserve the status quo in the Taiwan strait, it should try saying less and doing more. The goal of U.S. policy makers should be to convince Chinese leaders that any invasion of Taiwan would be both unnecessary and unlikely to succeed. So it's critical for the U.S. to shore up its deterrent capability. This means investing in long-range anti ship missiles and resilient battlefield networks and working with allies in the region to establish new basing arrangements. All this should be done without fanfare. Chinese leaders will respect changes on the ground more than rhetoric. This editorial was written by the Bloomberg editorial board for more Bloomberg opinion, please go to Bloomberg dot com slash opinion or op N go on the Bloomberg terminal. These has been Bloomberg opinion I turn on the radio. Yeah, but you let me drive. Oh, no. No, no, no. Honey, please. I'll do the driving drive on. Excuse me, I don't want to drive. It's a good question for drivers. This is the drive to the clubs. On Bloomberg radio. It's the drive to the close a lot hard to believe Katie, you know, time flies when you have it fun is what they say. We got less than ten minutes
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"And U.S. House speaker Nancy Pelosi's moved on to South Korea, but the military action from China isn't easing up after that Taiwan visited Baxter's got more. It exactly Paul China's responding military activities are the largest and most far reaching since 1997. This is Nancy Pelosi has gone to South Korea. By the way, we're getting reports she is not expected to meet with the president. A Bloomberg Stephen engel says those military activities really stepped up though. Yes, Pelosi has moved on, but we're seeing the military exercises. Those are those 6 exclusion zones. Actually, Chinese state media has called them danger zones, where military exercises have been underway. Xinhua reporting the PLA, the People's Liberation Army has conducted joint navy air force and rocket force drills to the north to the southwest to the southeast of Taiwan. They've also quite alarmingly for the global supply chains. They've simulated strikes on major ship targets in the Taiwan strait and around Taiwan by land and sea based forces. China has warned air traffic to stay out of several what it calls danger zones around the island, Taiwan has protested. G 7 foreign ministers have issued a joint statement on the Pelosi visit saying they share a commitment to maintaining the rule based on international order and their concern by what they term threatening actions by the PRC, particularly the live fire exercises and what they call economic coercion. They say it causes unnecessary risk of escalation. And The White House has asked an apparently gotten a pause on a bill that the Senate was due to vote on tomorrow, which would make Taiwan a friend of NATO. A definite change in status of the relationship if that happened now Bloomberg's Eric Watson says shows a very sharp divide in the Democratic Party. There are people in Congress who are China hawks like Pelosi who believe that you need to stand up to Beijing, especially on human rights issues on Tibet and on Taiwan. And they have their own approach to this. So The White House is more cautious. They are going to the geopolitical strategy in place here where we're trying to get China's cooperation on Russia, Ukraine, on other geopolitical issues. The White House asked for the very least of the lay. I'm presumably wants it killed yet the bill was due for vote tomorrow. It has been pulled for now. Finland, Sweden have won U.S. Senate approval to join NATO. Kansas voters have defeated a bill that would have put limitations on abortions. The first state vote on the issue since the Supreme Court ruled on roe V wade. President Joe Biden celebrating the voters of Kansas in a powerful signal. At this fall, the American people will vote to preserve and protect the right and refuse to let them be lift away by politicians. But some mega candidates did well in other parts of the country noticed by Senate majority leader Chuck Schumer. Last night's election was also a dark reminder that maga Republicans are running the show within the GOP. Their views are spreading through the party like a cancer. Political dynamics heading into November midterms are complex, compelling and can be confusing. Three C's. In San Francisco, I met Baxter, this is Bloomberg. Right Doug, thanks, Eddie. Let's get to global
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Minutes past the hour joules back to you All right time for global news Growing tension between Washington and Beijing over the Taiwan strait and an earthquake in Taiwan from all let's get to the newsroom and Bloomberg's Denise Pellegrini Denise That's where Juliet magnitude 6 quake in Taiwan just a few minutes ago shaking buildings in Taipei epicenter south southwest of hualian county on Taiwan's east coast And we have another report just coming in of a 5.2 quake on Japan's western coastal prefecture of ishikawa no indications of its tsunami there were monitoring both for you of course here on Bloomberg radio And we do have those COVID cases in Macau you know Macau just eased visitor requirements days ago and now 21 COVID cases detected the first in months their schools and non-essential businesses are shut down until further notice and the government in Macau urging people not to panic by says there will be enough food for everyone Opposite story in Beijing unfolding the sour the subway has been totally reopened there as COVID cases in Beijing and in Shanghai as well The CDC okaying Pfizer and Moderna COVID shots for kids as young as 6 months old some parents struggling to decide if their kids should get these shots xenophon's 8 month and three year old children participated in a trial with no bad effects And Xena good says you should catch your kids vaccinated Any potential side effects that could result from a vaccine they are so there is so much less than getting disease And the COVID shots for young kids in the U.S. could be available on Tuesday The U.S. has rejecting China's latest claim about the Taiwan strait Bloomberg Stephen engel says China is increasingly claiming something the U.S. doesn't like Sources are telling us now almost at every level and at every occasion Beijing is protesting and essentially saying that the Taiwan strait is as they have long asserted part of its exclusive economic zone and are not international Waters Now that poses significant problem Bloomberg sources say that Biden administration isn't buying that claim that Stephen engel just mentioned and is mulling an official response Mike Pence could be subpoenaed by the January 6th committee representative Adam Schiff tells CNN it is a possibility You know it's 50 years after the Watergate scandal in summer noting some similarities between Watergate and details unearthed in the January 6 insurrection including Watergate investigative reporter Carl Bernstein How do we get to a place where these people are so crave And so captured by Trump and his movement that they won't do the right thing And Bernstein there on ABC this week heard here on Bloomberg radio Meantime congressman Adam kinzinger says the January 6th select committee does not have legal authority but there is ample evidence that former president Trump knew his actions were outside the law We're not a criminal charges committee So I want to be careful in specifically using that language but I think what we're presenting before the American people certainly would rise to a level of criminal involvement by a president and definitely failure of the oath The oath has to matter here And kinzinger ahead of the next public January 6th hearing Tuesday and we have a couple more updates about the earthquakes NHK says no tsunami threat from the Japan earthquake and that earthquake in Taipei should buildings but no damage there so far Global news 24 hours a day I'm to these Pellegrini and this is Bloomberg Denise thank you Let's get to global sports here on.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Schools and non-essential businesses have been shut mass testing by the government to underway this hour separately mass testing in Shanghai shows the COVID problem there dramatically easing In the U.S. the CDC okaying COVID vaccines for kids as young as 6 months old These are Pfizer and Moderna shots they could be available Tuesday Mike Pence could be subpoenaed by the January 6th committee according to democratic representative Adam Schiff The U.S. is rejecting China's latest claim about the Taiwan strait China says the strait is not international waters but sources tell us the Biden administration isn't buying the claim Hong Kong's financial chief Paul Chen staying on the job That says incoming leader John Lee opts for stability And Japan's cabinet approval rating falls 6 percentage points to 60% That's according to a nikkei poll Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries In the newsroom I'm Denise Pellegrini This is Bloomberg Bloomberg opinion informed perspectives and expert data driven commentary on breaking news It is 8 50 p.m. on Wall Street 8 50 a.m. here in Hong Kong time to check in with Bloomberg opinion We're joined by opinion columnist Matthew brooker who's writing about how four sets of new textbooks will say that Hong Kong was never a British colony So there are a lot of qualifications here Matthew which you go to great lengths to point out in your piece yet let's face it I mean this is an attempt to rewrite history Yes exactly Ryan I mean that's what it comes down to And of course this is something that communist governments have a record of doing going back a very long way all kind of smacks of the old sort of Soviet trick when somebody was out of favor They sort of ceased to exist and were airbrushed out of photographs and were kind of never there I mean anyone who's read 1984 it kind of reeks of all of that Although there are you know there are it's not an unreasonable position in some ways For China to argue that Hong Kong was never technically a colony and it does have some support in international law as well What's the broader concern here though about education and educating young people that this is the truth and whether or not that's going to even lessen the I guess outside view of Hong Kong Yeah I mean I think Hong Kong is a place where it's under canonical rule for a 150 years and it's got a very kind of western outlook and a western approach to education Where there is a sort of respect for objective reality And I think the fear here is that I think from my own point of view I think is fair enough Children to be told that this is the Chinese government's point of view that Hong Kong was never was never really a colony It was just it's a semantic distinction but Hong Kong was Under the control of the British but China always retained sovereignty of it I think it's fine for children to be told that but are they are they then able to critically examine that statement and critically examine history and be exposed to different points of view If they're just told this is the way history was Hong Kong was never a colony and you can't argue about it I think that's where the real concern comes in Well the headline says one thing but the textbooks may go into detail explaining some of the nuances But actually all throughout history you had unjust wars.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"His take on markets in a moment but for now COVID cases in Macau and the January 6th committee could be getting closer to former president Trump and maybe even the former vice president Mike Pence For more or less get to the newsroom and Bloomberg's Denny's Pellegrini Denny's Yeah Brian a lot going on this holiday weekend Mike Pence could be subpoenaed by the January 6th committee representative Adam Schiff tells CNN its a possibility Meantime congressman Adam kinzinger Republican says it's Donald Trump lies to followers that cause the insurrection in the first place So many people charged the capitol because honestly they believed that the election was stolen And Kinsey there on ABC this week heard here on Bloomberg radio Ukraine's leader of Vladimir zelensky vowing to defend the country's south after his first trip to the region since the Russian invasion Russia says it hit military targets in Ukraine with sea launched cruise missiles Here in the U.S. the CDC okaying COVID shots for kids as young as 6 months old doctor Bill Gruber senior vice president head of vaccine clinical research and development at Pfizer warning parents healthy children while they're not immune from the virus One can't rest assured that because my child is not been sick or has my child is healthy And does not have an underlying condition That does not protect them from COVID-19 enough to keep them from ending up in the hospital And those Pfizer and Moderna vaccines could be available across the U.S. by Tuesday COVID shutdowns in Macau schools and non-essential businesses have been shut and mass testing is underway The U.S. rejecting China's latest claims the Taiwan strait is not international waters Bloomberg Stephen engel says this is a huge headache for the U.S. because of the timing And potentially raises the specter of increased challenges by Beijing to any kind of incursions through the Taiwan strait and that could given the rather fragile geopolitical security environment right now after the invasion Russia's invasion of Ukraine it could lead to challenges or interceptions and that could obviously destabilize this region And because of that the Biden administration is mulling an official response carefully according to sources Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries In the new survivor Pellegrini this is Bloomberg Brian Denise thanks very much The time 7 and a half minutes past the hour let's get to our guest Olivier dossier head of apac applied research at contigo Olivier in one sense with perception very important and with inflation expectations very important You'd think that the fed chief and also the treasury chief Janet Yellen would say look we're on the case and we will win this war against inflation but instead Jay Powell and trying to defend what the fed has been doing saying well you know we can't really have that big of an effect There's the war in Ukraine and blah blah blah blah blah blah blah blah blah It sends the wrong message doesn't it It kind of does but at the same time I think for investors they believe the fed should have acted a lot sooner and so I think the credibility was already hurt earlier on What they like to see now is that okay now you're on the case 90 you're moving the 75 basis point was probably the right move in the sense that the send that message okay okay we heard you my bad We missed it but we heard you now And now the worry for investors is switched from the fed being inactive to okay what cost is this going to come in terms of recession probability and so on and so forth But I think they're willing to accept that to some degree and now they've turned their attention to okay You're on the case We may have a mild recession or worse So what about valuations which are still higher than the historical media So I think that's where the concern is going to start to go now Looking at valuations of companies earnings forecast and the like So where is the bottom then as we look at the S&P 500 poised to arrays that pandemic rally So what we have right now is a situation where the new slows dominated by macro news or geopolitical news because there's no earnings release right But we've got ten days left in this quarter Another maybe two weeks for people to get the numbers together and then the earnings at Q two earnings season starts And that's when correlations will come down and people will see winners from losers from the situation they will start hearing from CEOs about plans of dealing with this higher inflation They will start to see who has got a smart management team and who hasn't who has got caught like a day or a day in headlights right So I think this situation right now where we have high correlation and the market moves up and down every day from macro news We've got about another three weeks of that And that's the danger Anything that happens in terms of negative news flow in the next three weeks is going to scare the markets But after that we're going to start doing their homework again Earnings might tell us a lot I mean these companies are very very smart and adept at handling issues in the pandemic hit We all thought it was a complete doom and gloom but a lot of companies figured out a way to cut costs and to stay profitable and keep revenues up too So you know are you on the side of things get a lot worse before they get better or hey they may surprise us I think in the next three weeks things could get worse because like I said the macro news is still dominant and you have so many things going on just down the headline news segment you mentioned so many of them geopolitical macro news We also have something that's not really been talked about which is extreme weather events which we're already starting to see here and there Western Europe and the western.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"China is warning the United States in the strongest fashion yet over the risk of war over Taiwan particularly use of the Taiwan straits Let's get to it back to he's got the story in Yeah that's exactly what it is Brian China's defense minister a wave function saying that it is up to the U.S. to improve the bilateral relationship saying they're at a crucial juncture at this point Bloomberg Steven engel reports the defense minister's language is stronger than it has been Now it has been long that Beijing's a surgeon that Taiwan strait is part of China's exclusive economic zone However we're hearing from military sources that it is rarely brought up in military to military talks as a main talking point But increasingly now with the rhetoric ramping up the Taiwan strait is increasingly being called on as a no go zone for the United States by Beijing authorities And that is alarming U.S. defense officials Yeah U.S. has sailed straight for years U.S. seeking support in Asia over the weekend reassuring nations they do not need to join a coalition against China defense secretary Lloyd Austin saying the country should be free to choose free to prosper free to chart their own course He said there is no need to pick sides Australia seems to be taking the same tact defense minister Richard marles and talking with Juliet at the shangri la summit in Singapore says Australia is seeking a path If we engage with energy if we seek to place the interests of the Pacific people first and there are lots of challenges that the countries of the Pacific face in terms of development and Australia is in a unique position to assist If we do all of that we will be the natural partner of choice for the countries of the Pacific but it's not something that we get by right We need to earn it Miles tells Juliet the new government is working very hard in being fully engaged in the Pacific South Korea says it will boost its defense capacity to boost its defenses against North Korea defense minister Lee Jong soup saying that the situation on the Peninsula poses a global threat and he says he wants to work closely with U.S. and Japan U.S. Senate is apparently found a compromise over gun safety at least something that can pass the Senate Democratic senator Richard blumenthal and ABC has heard here on Bloomberg says it can save lives We can build on it We can move forward with other common sense Hopefully bipartisan proposals after this one is passed our focus right now is making sure we have the legislative language and the 60 votes we need to pass it Now the bill includes giving grants to states to implement red flag laws which could potentially allow courts to remove guns from potentially dangerous owners and it could provide for more school safety as well as provision to improve background checks for younger gun buyers look into records of domestic violence abuse convictions and restraining orders It does as of now have the support of ten Republican senators which is needed to get it passed Beijing and Shanghai have resumed mass testing as COVID cases rise planned reopening of schools in the capital just days after the two ended social curves have been put in place for a month now back on Hong Kong cases are rising still as well Latest count day to today more than 800 U.S. House January 6th committee holds a hearing a hearing two is what it is tomorrow in the committee member Adam Schiff on ABC says the focus of this one There are connections between these white nationalist groups and some in Trump's orbit Yeah chef says it'll move from there to the documenting the chance of hang Mike Pence and whether Donald Trump contributed to those thoughts In San Francisco I'm Ed Baxter This is Bloomberg right Brian All right thanks very much Ed 38 minutes past the hour It's time for world sport So let's get to Dan Schwartzman sword but he worried about spending by consumers but for the big football clubs no problem in spending.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Asian business headquartered in Hong Kong Still none of HSBC's biggest shareholders have come out publicly in support of ping an's proposal I'm Rosalind chin Bloomberg daybreak Asia It is 5 minutes past the hour time now for global news Beijing and Shanghai have resumed mass testing as COVID cases rise Let's get to Ed Baxter in San Francisco it All right Jules I planned reopening of schools in the capital just days after the two ended social curbs had been in place for a month Yeah not going to happen Beijing started in several neighborhoods in the Xiao Yang district after a flare up and a bar end and a 5 day streak of COVID community spread The quick escalation adds to concerns that China's COVID zero strategy may send cities that repeated lockdowns and then reopenings and then lockdowns China and the whole trying to balance COVID zero with the economic recovery Hong Kong cases are rising as well Latest count day to day more than 800 and this is the second straight day authorities warn numbers could continue to rise with the easing of social restrictions and travel curbs they say for example 106 of the 814 are imported Bipartisan group of U.S. senators has reached a tentative deal on gun safety leaders say it includes giving grants to states to implement red flag laws which could potentially allow courts to remove guns from potentially dangerous owners And it could provide for more school safety as well Senator Richard blumenthal says it's a start Endorsed by ten Republicans and so this framework definitely could pass with 60 votes Yeah measure also includes provision to improve background checks for younger gun buyers and looking to records of domestic violence abuse convictions and restraining orders China's defense minister why Feng Q saying that it is up to the U.S. to improve the bilateral relationship saying tens are things are at a very crucial juncture And China's warning the U.S. and its strongest fashion yet over the risk of war over Taiwan Bloomberg Steven engel says it entails involvement in the Taiwan strait Taiwan of course is the flashpoint the potential flash point sources are telling us that the United States is hearing increasingly behind the scenes from top level Chinese officials that the Taiwan strait is increasingly becoming a no go for U.S. naval vessels The U.S. assailed the Taiwan strait for years and the House committee investigating the January 6th capitol insurrection attempt will use upcoming hearings including the next one tomorrow to show connections between the rioters and former Donald Trump inner circle a former president The committee member Adam Schiff on ABC says some focus on the chance of hang Mike Pence We will I think be demonstrating the proof behind that comment Everything that the chair and vice chair said during our hearing was well documented and analyzed and dotted every I and crossed every T and Schiff says a president presented the option that maybe he wasn't a bad idea And we're getting reported now a new headline up on the Bloomberg that China reports 143 local COVID cases for June 12th In San Francisco Ahmed Baxter this is Bloomberg Yeah thanks very much It is a tricky one on the Taiwan straits The U.S. sees it as international waters China sees it as domestic in that it claims Taiwan is a runaway province And the U.S. in some sense agrees that Taiwan and China are part of one China So it's a nettlesome problem And it's a perfect lead in to get to our guest Sean Taylor apac CIO of DWS I wanted to mention that in addition to that geopolitical angle this morning you also have more restrictions coming online in China So all morning long we frame the inflation story I haven't had a chance to talk quite so much about the possibility of further lockdowns in China How much will that be affecting markets.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Hour time for global news John air warning the U.S. in its strongest fashioned year show over the risk of war over Taiwan Ed Baxter has the details in San Francisco edge Yeah Julia China's defense minister Saying it's up to the U.S. to improve the bilateral relationship saying these are at a crucial juncture in Bloomberg Stephen engel reports the defense minister's language is much stronger Now it has been long that Beijing's assertion that Taiwan strait is part of China's exclusive economic zone However we're hearing from military sources that it is rarely brought up in military to military talks as a main talking point But increasingly now with the rhetoric ramping up the Taiwan strait is increasingly being called on as a no go zone for the United States by Beijing authorities And that is alarming U.S. defense officials Yeah U.S. has sailed a straight for years U.S. seeking support in Asia over the weekend reassuring nations they do not need to join a coalition against China defense secretary Lloyd Austin saying the country should be free to choose free to prosper free to chart their own course said there's no need to pick sides Australia seems to be taking the same tact defense minister Richard marls and talking with Juliet at the shangri la summit in Singapore said Australia is seeking a path If we engage with energy if we seek to place the interests of the Pacific people first and there are lots of challenges that the countries of the Pacific face in terms of development and Australia in a unique position to assist If we do all of that we will be the natural partner of choice for the countries of the Pacific but it's not something that we get by right We need to earn it Morals tells Juliet the new government is a working very hard and being fully engaged in the Pacific South Korea says it will boost its defense capacity to defend against North Korea defense minister Lee Jong su saying situation on the Peninsula poses a global threat and that he wants to work closely with the U.S. and with Japan U.S. Senate is apparently found a compromise over gun safety at least something that can pass the Senate Democratic senator Richard blumenthal on ABC says it can save some lives We can build on it We can move forward with other common sense Hopefully bipartisan proposals after this one is passed our focus right now is making sure we have the legislative language and the 60 votes we need to pass it Now the bill includes giving grants to states to implement red flag laws which could potentially allow courts to remove guns from a dangerous owners and it could provide for more school safety as well as well as provision to improve background checks for younger gun buyers Beijing and Shanghai have resumed mass testing as COVID cases rise a planned reopening of schools in the capital just days after the two ended social curbs that had been in place for a month Hong Kong cases rising as well Latest count day to day more than 800 this is for the second straight day Authorities were numbers could continue to rise with the easing of social restrictions and travel curbs U.S. House January 6th committee holds hearing two tomorrow and the committee member Adam Schiff on ABC says the focus is one There are connections between these white nationalist groups and some in Trump's orbit Yeah Schiff says it will move from there to chance of hang Mike Pence and whether Donald Trump contributed to those thoughts French voters in the midst of election electing a parliament this is a vote will determine how much power we elected Emmanuel Macron will have as p.m. polls have been saying that he should maintain control perhaps though only barely In San Francisco I'm head back to that was a good interview by the way Jules Oh thanks dad Thanks for replaying part of it All right 38 minutes past the hour time for global sports And Dan Schwartzman joins us Dan how much a media rights worth for professional cricket A lot more than I think most of us think.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Rate subject to change learn more at IBKR dot com slash compare Well Brian certainly there's just one real big issued sticks out like a sore thumb It's red hot and it is inflation Actually it is but so many other issues as well rich Asian equity futures are suggesting a pretty rough go of things this morning The hot inflation print in the United States on Friday has raised the notion of a much more aggressive fed on interest rates going forward U.S. stocks declined across the board on Friday The Dow Jones Industrial Average down 2.7% tech shares sliding along with banks and really just about everything The S&P 500 off 2.9% the NASDAQ composite tumbling three and a half percent Let's look at some of the numbers in the Asia Pacific this morning Hank sang index futures down 1.7% S&P E minis are down 9 tenths of a percent China futures also down trading off about 8 tenths of 1% and looking at Australian futures down 1.7% and we're expecting a tumble in Tokyo as well And if that wasn't bad enough in terms of the setup coming from the inflation print in the U.S. China has warned the United States privately to avoid the Taiwan strait and that will certainly raise bilateral tensions And the lockdowns linger in China as authorities find it much tougher to control a cluster of infections in both Beijing and also in Shanghai a lot more shut down there The dollar within tight range is this morning And the oil bowls are licking their chops waiting for China to come back to the market At the moment the last trade on WTI crude was a $118 and 80 cents right now we've got gold at 1879 a try out Rashad All right well we've been talking about it is this thunderbolt through financial markets You guys consumer prices jumping more than the more than expected 8.6% in May and that is a new 40 year high that figure is from a year ago and Muhammad Arian warning that we haven't seen anything yet Denise Pellegrini sent us this The economic adviser at Allianz and Bloomberg contributor says inflationary forces appear to have some real staying power right now I fear that it's still going to get worse We may well get to 9% at this rate An L area also telling CBS face the nation heard here on Bloomberg radio people will get hurt and not only investors It hits the poor particularly hard the L Aryan says the fed needs to explain what it got so wrong in order to regain credibility And he also says watch for at least a 50 basis point hike this week To these Pellegrini Bloomberg Debra kaisha Well the big British bank HSBC could make a substantial amount of money accessible in the spin off of its Asia business Let's get that story from Rosalind Chen A breakup of HSBC's Asia unit could unlock $26.5 billion or a 5th of its current market value This is according to the UK's Sunday times citing research from an in total consulting report It listed scenarios where HSBC could spin off its Asian business or just its Hong Kong retail operations into partial IPOs They report was allegedly commissioned by ping uninsurance HSBC's biggest shareholder Hang on has been leading a campaign to overhaul HSBC's operations in Asia The company's argued that banks investors would do better from being able to choose to invest in a pure play Asian business headquartered in Hong Kong Still none of HSBC's biggest shareholders have come out publicly in support of ping an's proposal I am Rosalind chin Bloomberg daybreak Asia So a lot of stories as well as inflation and economic data affecting markets will get to Andy Kaplan in a few moments partner and co CIO at regent Atlantic capital That's coming up Rashad All right just to say that we're going to have a look at some of those stories making a global headlines.
Bloomberg Radio New York
"taiwan strait" Discussed on Bloomberg Radio New York
"Rate and proposal going forward for the budget plan this week. House Democrats also saying That they will propose 26.5% corporate tax rate in that plan in the Senate Democrats two pronged approach to infrastructure and budget under reconciliation needs more discussion, according to a Democratic Senator Joe Manchin, saying today that it will not get past soon. North Korea says attested to missiles over the weekend a new kind of long range cruise missile two years in development. We have more details on on the distance traveled and what it might be able to reach at the top of the hour. China's National Health Commission has sent a special team to Fujian Province after 19 new cases were reported their former U. S. FDA commissioner Scott Gottlieb, who is now on the fighter board, says vaccines for kids could arrive as soon as Halloween this year. Also says the Biden vaccination plan may take time to implement and U. S. Surgeon General Vivek Murthy says the Biden path is the right path. And will become effective in San Francisco. I'm at Baxter, This is Bloomberg back to Hong Kong, Brian All right. Thanks very much. Well, we mentioned a few moments ago when we're talking about the FT story about Ali pay 10 minutes here before the top of the hour. Let's take a look. Use the daybreak. Asian media and tea leaves review. There's another story in the Global times. It's actually an editorial that says China should teach the United States and the island of Taiwan a real lesson if they call for it, And this is responding to a separate story in the FT. That the US is seriously considering a request from the island of Taiwan again. This is the way that the editorials written to change the name of its mission in Washington from the Taipei Economic Cultural Representative office to the Taiwan representative office, and this has angered Beijing and this editorial goes on to say in the final line, or one of the final lines of peace. Right now. We need to be fully prepared to blow them out of the water in the Taiwan Straits. In a separate story, it's Taiwan that is feeling the pinch. Fitch Ratings referred to Taiwan as being part of China. In a ratings announcement Picture statement began with a phrase Fitch upgrades Taiwan China to double A outlook stable Previous statements would just say Taiwan and this elicited a response from the Ministry of Finance in Taipei, which said in a statement that he regretted finches decision. And finally, the wealth connect between Hong Kong and China is moving forward. HSBC said it would today submitted application to launch investment products under the cross border wealth management. Connect Scheme nine minutes before the top of the hour. Ricin Doug to you. All right, Brian. Thanks. Well, let's get to our guest. Who is Kelly would fund manager of fixed income at Schroders on the line from Sydney. Kelly. Thanks for being with us, obviously, for bond markets globally right now, I think the The central question is on fed tapering. I'm wondering in your work as you look at the virus and the way in which it's proliferating and driving sentiment. The pall of its cast over the growth outlook. Does it necessarily lead you to think that the Fed is perhaps not in any hurry to taper? Or will it as many officials are calling for stick to its guns and move forward with that plan? Hey, guys. And thanks for having me this morning in terms of the growth outlook for the U. S. Obviously, it's been exceptionally strong this year, And although activity remains pretty robust level, you know the growth pulse has paid. And markets really have started to enjoy this sort of softer data as good news as it pushes policy tightening into the future, But you know for us the biggest concern here is the environment of stagflation. You know where we see a further moderation of growth. Alongside some of these upward pressure on prices and you know, in terms of the Fed, you know, that means that they're going to lean against moderation in growth, they still believe inflation transitory. And you know, we're likely to see a delay to tapering certainly a delay to tightening and this is an environment that especially risky markets really enjoyed. Okay with it show, But you look at all that and you go. OK, but ultimately where's the juice is a value here, anywhere. Yeah, And I think this is the biggest challenge drive is where you know, in terms of credit markets. You know where cycle fundamentals that we're at late cycle valuations and It was very difficult to find any valuing in bond markets here today. Um, you know, the recovery we saw last year meant that you know, when now operating in An opportunity set that's very expensive. And you know, in terms of credit, you know, we have been managing l position quite constructively. You know, we are positions of high quality carry. Um we are seeing value in asset costs is like Asian credit. Um us securitized it emerging markets. But we have been tactically defensive since June. Um, you know, and there's any small pockets of value in terms of the credit opportunity said that we have been accessing of the last few months, but the unevenness of the global recovery you look at the situation like Museum Island as small as it is, I mean, they've already the Central bank. They're already moving, writes up. Probably poised to do the same. We are talking about bias now to tightening not only in the US, Australia as well. So talk to me about the markets that you need to focus on. Given the relative nous of this that it's certainly uneven across the globe. Yeah. And I think this is where you know you can really play into sort of relative value opportunities. You know us all the Canada, New Zealand. And you know, this strain economy has been, you know, an interesting one where you know we've always been of the view that the Australian market could outperform the US this year. And that's certainly played out. I think you know the Australian economy, certainly through the worst, um, at least relative to other countries as vaccination rates sort of pick out and we can look forward to Getting out of these lockdown that we're stealing today. Um, but the deltas Chinese is clearly a game changer. And I think this is where we need to be looking at markets that, you know, um, moving faster towards sort of reopening. And we are getting to a point where those central banks um you know, I'm starting to withdraw policy accommodation and whether that be in in markets like New Zealand and Canada. Um and the U S. You know, they're the markets that we've been playing short duration. Where you know, we continue to remain long, long duration in those markets where, um, there's been some disappointment. In terms of Australia and Europe. Okay. Okay. You're also looking at other assets around Asia Credit. Do you worry about the likes of Evergrande, for instance, and all the news flow from that, and indeed, the fallout from that could present something which could be systemic. And hurt. A lot of the credit markets, which doesn't need to be or hurt deserve to be heard. Yeah, I think I should. I just credits an interesting one. Um, you know, we have had exposure to Asian credit. Um, you know, late last year, but we have started to add to that position because You know, it offers stand out value in the global fixed income universe. You know, there's there's no other markets that displaying those type of valuation. So you know, we do like Asian credit, predominantly from evaluation perspective. We do acknowledge that the cycle is is quite weak. You know, we've seen Chinese authorities continue down the path that sort of regulatory crackdown. Um, and that's obviously putting a lot more pressure on On the broader credit markets. But in terms of valuations, we do believe we're getting compensated for that. Um so we continue to hold those positions. I guess we're, um We are a little more cautious in markets like us high yield. Um, very stretched valuations. Um, so we are running short vision in U. S high yield U S investment grade. I think they're the markets that really Quite a symmetric in terms of credit, underperforming in sort of a risk off environment. Kelly will leave it there. Thank you for being with us. Kelly would of Schroeder's here on daybreak Asia. Thanks to Rashad Salam it being with us, this is Bloomberg. This is a Bloomberg money. Switching to Geico is a good idea, especially when you consider everything. First off Geico makes it easy to switch. They have licensed agents available 24 7 online or over the phone. But if it's.
WBZ Afternoon News
Taiwan's leader hopes for reduced tensions with China
"The leader of Taiwan is appealing to China's president to de escalate military tensions more from the BBC's Chris Barrow, the president of Taiwan, sighing. One, has said she wants to have a meaningful dialogue with China. Provided Beijing is willing to resolve antagonisms. Speaking on Taiwan's National Day, she promised to maintain stability across the Taiwan Strait, but insisted that responsibility should also be shouldered by China. Beijing considers thes self governing island
WBZ Afternoon News
Taiwan's leader hopes for reduced tensions with China
"Jinping to de escalate military tensions more from the BBC's Chris Barrow, the president of Taiwan, sighing. One has said she wants to have a meaningful dialogue with China. Provided Beijing is willing to resolve antagonisms. Speaking on Taiwan's National Day, she promised to maintain stability across the Taiwan Strait, but insisted that responsibility should also be shouldered by China. Beijing considers thes self governing island part of its own territory. And a rift between
Balance of Power
China Raises Conflict Risk With Breaches of Taiwan Buffer Zone
"The risk of military confrontation in the Taiwan Strait, hoping did a tear in Taipei from continuing to deepen ties with the United States. China is ratcheting up tensions in the Taiwan Strait, hoping to deter Taipei from deeper ties with the U. S. In a series of military exercises, China repeatedly breached the median line separating the two countries. Beijing regards the island as part of its territory, even though it's been ruled separately for more than 70 years. President Trump
AP News Radio
China flies 18 warplanes near Taiwan during US envoy's visit
"China's military sent fighter jets over the Taiwan Strait in an unusually large show of force as the U. S. envoy holds a day of closed door meetings with officials on the self governing island claimed by China in response to undersecretary of state Peter cook's visit a unit of the Chinese people's Liberation Army has held combat exercises in the region Taiwan's defence ministry saying two bombers and sixteen fighter jets crossed into Taiwan's air defense identification zone Taiwan scrambles jets in response and monitored the movements of the Chinese planes trucks trip follows a visit in August by the health secretary Alex Hayes are the highest level U. S. capitals official to visit since the U. S. switched formal relations from Taiwan to China in nineteen seventy nine I'm Charles the last month
Monocle 24: The Briefing
Friday 18 September
"Now, as we just heard, China's navy is acting live fire drills near the Taiwan Strait. There's little doubt about the intended audience because in the slender credit, where'd you file of us? President Donald Trump remains his phone call shortly after his election to President Chang of Taiwan the first time the US president or indeed president-elect had spoken to the Taiwanese counterpart since nine hundred, seventy, nine, president trump clearly understands that there is no more reliable way of winding. Up China then embracing Taiwan, which may be why he has now dispatched the highest ranking American envoy in decades kaethe crutch on the secretary of State for Economic Growth Energy and the environment, a rank which seems calibrated to annoy China even more by making any overt rage on their part appears somewhat silly one joined with more on this by Isabel Hilton CEO of China. Dialogue is a bill first of all the the visit of chief crash and I've allowed time for everybody to furiously Google is just trolling on America's part. And Up to a point you you left often you know one elements in the winding up of list, which is that he's there to attend the memorial service for former president of Taiwan, Li dung-wei who has counted as the most hated Taiwanese in Beijing because leading Guay was the man who really lead Taiwan to democracy and was also an advocate of Taiwan as kind of independent cultural and political entity from China. So he's really not very you know he's definitely not on the Christmas, Card List for sheeting pin and to pay tribute to him is pretty certainly would be read in Beijing as a as a a further effort crime. So what degree of C- Will Beijing be at over this visit? Well I think we're seeing it now. I mean a great deal of of rather dangerous firepower is buzzing around at the moment An. We've seen really since June kind of escalating provocation from China, in sort of entering various kind of buffer zones which are pretty much being respected for decades you know around Taiwan that you can you can threatened and rattler cage but on the whole, it's been recognized that if you if you cross certain. Lines then you are risking at least an accident so. I mean the the the problem was that you know. In. The last well, just today actually eighteen Chinese bomas an and find the jets and Taiwan's advance buffer zone and that caused the cost Taiwan to scramble its jet. You had a lot of very you know serious. Flying around and I think that. Is and that along with the naval exercises and and a great deal of rhetoric is probably as far as it will go. But you know we have seen a prolonged campaign for the last three or four years of diplomatic isolation of kind of steady pressure on Taiwan from China, and certainly this doesn't help. You correctly observed that the US envoy is there to attend the memorial service for a former Taiwanese president. He will also be meeting with the current Taiwanese president is likely that anything of actual substance is being discussed between the president of one country and the Under Secretary of state for you know whatever from the other one or is this again? Largely. Theatrical. I wouldn't count on it being largely theatrical If you know we, we've wh as you know, we have a kind of dealing confrontation between the US and China and some alarming voices in Washington. Are, advocating, for example, the United States should supply nuclear weapons to Taiwan, which would be pretty crazy move in my view. But. There is a commitment from the United States to supply to Taiwan such a defensive Capability as is required now, it would be quite easy to argue that in a situation of enhanced tension greater a military supplies, more more military supplies. Packs more advanced military supplies were required and I would expect that to be part of the conversation I would also expect at least saying went to be exploring the idea of more formal cooperation between Taiwan and the United States last US official. To visit, which was relatively recently that produced an agreement on of collaboration on health I think timing when would very much like to see a free trade agreement with the United States. So again, I think this quite a lot to discuss an I would be surprised if this visit took place without some of them being on the table is anything really likely to shift in the near future though in any direction where this is concerned is everybody involved not basically biting their tongues and one hopes. Metaphorically as well as literally holding their fire until election day in the United States and certainly hope so you know the the US position on Taiwan, which is a it's a treaty obligation to to make sure that Taiwan can defend itself. This doesn't actually commit the United States to coming to the defense of Taiwan, but there is a kind of strategic ambiguity in in this treaty, which is designed to stop Taiwan declaring independence and therefore provoking China to stop China assuming that were it to. Stage a military salt. The. United. States would stand by and and not come to the defense of Taiwan. So the ambiguity in the US position is designed to keep both sides. Calm. Under a trump administration of calm is not a highly valued factor in Washington's calculations but I think. That the hope would be in Washington that enough kind of chest bearing and beating. We'll just keep everybody from doing anything too rash said, he don't think that China would relish an armed conflict, but on the other hand if the United States and Taiwan scenes to provocative in Beijing, in order to satisfy, it's increasingly nationalist domestic opinion and a PLA that seems fairly rested at the moment they might feel obliged to do something and as soon as you do something in a situation like this, then your provoking something very, very dangerous indeed
BBC World Service
US sends top-level diplomat to Taiwan, defying China
"Late Taiwan President Lee Dong Quai despite warnings from Beijing. NPR's John Rule, which reports Keith Crock, the undersecretary of state for economic growth, energy and environment, will be the second senior U. S official to visit Taiwan since early August. Beijing considers Taiwan a part of China and its vowed to unite the self ruled island democracy with the mainland by force, if necessary. China's government was irate when health and human services head Alex Cesar visited Taiwan in August. He was the highest drinking U S official to visit Taiwan since Washington and Taipei cut formal ties in 1979. Chinese Foreign Ministry spokesman this week called on the United States to stop official exchanges with Taiwan to avoid quote serious damage to China U. S relations and peace and stability across the Taiwan Strait. John Druitt. NPR NEWS The Justice Department is charging five Chinese nationals with a wide ranging hacking scheme targeting more
Between The Lines
Has China lost Taiwan?
"Taiwan's president secured secured a second term over the weekend started scenes of the woman who stood up to China because China always believe China. Taiwan's recent election is widely seen as a watershed moment a referendum between Wayne. Two very different choices saw in win. She's the president since two thousand sixteen. She promised to protect Taiwan's freedoms from an increasingly assertive. He said he's an autocratic Beijing or the nationalist combing Tung came to the opposition which stressed causes ties with Beijing. The result a landslide two cy and her ruling independence leading Democratic Progressive Party. It was her warnings about China that hit home. We've voters this threat Israel with these respect from China situation has changed you. You cannot exclude the possibility of a war. And it's high invading. Taiwan is something that is going to be very costly fled China Taiwan's president saw in win on the basis now. She scored move odds than any other presidential candidate since Taiwan hi one began holding democratic elections in Nineteen ninety-six. So why has Beijing's efforts to control. Taiwan was it backfired and we'll China Now back off from what it sees as a renegade province remember most nations including the United States and Australia. We adhere to the one China policy which means we formally acknowledge Beijing's claims over Taiwan but what can Washington and camera do to help this vibrant democracy of twenty ninety four million in the face of arising China. Natasha Qassam is research fellow at the Lowy Institute for International Policy where she directs the annual Lowy Institute suit poll. She's a former Australian diplomat. And he wants is emeritus professor of Strategic Studies at the Australian National University and author of how to defend Australia. He's a former deputy defense secretary. Natasha Hugh Welcome to Iran. To be with you thanks for having is time now Natasha. Why has China lost the battle for public opinion in Taiwan? Look I do think there's a real question as to whether China ever had a chance in this respect. You've got a longstanding up position in Taiwan to unification with China. You've got a long standing position to one country. Two Systems the model that China developed in the eighties Fulbari Taiwan and Hong Kong. And of course we see the problematic way that's playing out in Hong Kong today but the most important issue here I think has been the emergence of a unique Taiwanese identity entity. This is what has really changed over the last decade the majority of Taiwanese people they see themselves as Taiwanese and in part this is in opposition to a growing authoritarian -tarian reach from China but in pilots a product of Taiwan's transition to democracy. It's unique history in terms of its different periods of colonization and indigenous peoples. I think today we can say that. This far more that divides Taiwan and China then unites them. Is that growing sense of independence in Taiwan. And Natasha you mentioned Hong Kong and how that was supposed to be the roadmap for China's One Country Two Systems policy the clearly rebuked in these elections hugh. How does Beijing you all these? Well I think they must be very gloomy very concerned and I think getting pretty angry because I completely agree with Tushar I think the elections very significant because it confirms assumes absolutely that the prospect of an eventual consensual reunification of Taiwan agreeing to be absorbed or reabsorbed helped by the mainland looks more and more remark and the problem for everyone including for Taiwan is that Beijing is very unlikely to accept except that Beijing for Beijing reunification as I sit bringing Taiwan back into China is an essential part of their agenda of Xi. Jinping's agenda to for the rejuvenation as he calls it off of China overcoming of that century of humiliation which which began with the opium wars lower back in the forties and which she has set himself to overcome overturn. I think for him getting Taiwan back as he I would say it is. There is nothing more important to him. Nothing more important to the Communist Party and so we have The seats of a real tragedy because as Natasha says it's clear and clear that the Taiwanese don't want to be part of China and it says clearest safe obtain the Chinese determined to make it part of I hear you say Washington Santon. Sorry Beijing won't accept Taiwan's growing assertiveness but hasn't by aging conduct here been counterproductive. I think of John is if it's to intensify military not exercises around the Taiwan Strait. If it's to US light diplomatically. A Taiwan a hasn't that just stiffened the resolve of the tonys. ESO expected. Has I think I think that's been effector I think is Natasha. Says I think what's happened in. Hong Kong has has disabused anyone in Taiwan of any illusions about what one-country-two-systems three two systems would really mean. If it was applied to talk to Taiwan I think the growing authoritarian nature of the Chinese Communist Party ruled in China itself under under Shuzhen Ping Has Added to that. Boils I think as Natasha says again. That that the the the long term development of Taiwan itself Tallinn's entity that the the evolution of a very vibrant democracy there Meant that perhaps. Whatever Beijing done even if Beijing it'd be much less frightening that it has been it still would have been unlikely that Taiwan would move voluntarily to do what Beijing once and it's actually is hugh why wrought out here and he's not alone? We've had on this program over the last few years Professor Jon Meacham from the University of Chicago. The argument here is that not only will China be much more powerful awful than it is today but it will also remain deeply committed to making Taiwan part of China. I think she's deadline. Is this attender of the Communist revolution. Which would be a twenty four nine in other words? Tom Is on China. Saad your response. I disagree that Taiwan is really significant priority for Xi Jinping's China. But I think it's important when we think about what their highest priority is and for me that is always the domestic legitimacy of the potty state and and so by Beijing's policies primarily directed at that domestic audience. They might be failing in Taiwan but suddenly what they ought designed to do is to demonstrate two people in China that Beijing holds all the cards that they have a able to exit military pressure on Taiwan that they can exclude Taiwan from international organizations and that is the highest priority and under Xi Jinping's China. I think the hotline inflexible policies will just continue for godless. The effect that they have in Taiwan. But at the same time I do think it's a self fulfilling prophecy to argue that China will become so powerful so we should roll over and do nothing and therefore it will allow be allowed to become even more all powerful in military and economic times. I think this is almost a given Alpha China. But it's not a given in terms of China's power. China's power has been restricted in the region winslow in many ways many countries including Australia do not recognize the ages over the as traders say. China hasn't succeeded in achieving. Its goals in the South China Sea. It hasn't succeeded in closing bases in Japan. There's that in South Korea in numerous ways. I wouldn't say that time is on China side if anything I I think. China as a rational actor recognizes the cost of a protracted war a much higher than the cost of their patients on that knowledge has as Shea Jingping pink overreach. The embroiled other countries led by the US but including Australia to a newly skeptical view of Chana. I look clearly Thomas. China's Powell grows as system becomes more authoritarian as the way it seeks to exhibit influence throughout the region becomes to put it politely a more assertive a lot of countries. You Niger and beyond becoming more and more worried about what. China's power and hatch on is going to use its power mains over the next few decades but that I think we'd be too optimistic to imagine that China is somehow becoming a self limiting problem. I do think Jonah's power has grown. I think it's influences growing there. It's I still true. Of course. There's Natasha is that there are lots of things at China would like it. It hasn't yet got but I'm more pessimistic than she is that about China's capacity not to get its way increasingly as time goes on and it's worth bearing in mind all the things that China does get that yes Not everyone accepts what China wants to do in the just south China Sea but Australia. Itself hasn't undertaken serious remove navigation operations Australia and self does not acknowledge China as a strategic rival. The United States does Japan treating China increasingly cool. She asleep as it becomes less and less confident about Donald Trump's America. And we'll push you. It's Responsibilities towards Japan onto the treaty. So I think actually China is doing pretty well. I think we've made a big mistake. To underestimate raced tonight. But China's resolve in its capacity to use. Its Influence to get what it wants. I guess. Hugh Watt for my new and Tasha Qassam from from lowy and we're talking about Taiwan and China in the wake of the all in democracies election widely seen as a rebuke to Beijing. The TASHA you say Beijing's going to weaken Taiwan's democracy house. Oh look I think I said that it was going to try and I think it is trying in many ways. It's trying through disinformation Ryan and bypassing more media outlets in Taiwan and then controlling the narrative in that way it is certainly trying to infiltrate grassroots organizations like temple organizations sations and farmers and fisheries groups. The thing is that Beijing is very much moving away. I think from trying to support. Just one side of politics. The Guangdong Minggong which has always been seen as more friendly towards Beijing insofar as has been unsuccessful because the dog is not able to as. We've all of the reasons since we've already outlined. They are not able to deliver Taiwan in any way because of the way of public opinion against China. So now I believe that Beijing is trying to undermine undermine the democracy itself to undermine people's faith in institutions trying to essentially mess it up I think the best expression I've had tended into Crimea so that you have a government paralyzed a government that people do not trust and in that way the system would be much weaker. You Natasha to agree that Beijing is going to try awaken Taiwan's democracy and certainly badging will increase the pressure to open talks on reunification. I suppose the question here is wise. China so sensitive about Taiwan one. I mean think about it Taiwan or Formosa as it was earlier known. It's only been part of China for something like four out of the past one hundred twenty twenty five years since Japanese colonization nineteen ninety-five four out of one hundred twenty five and those four years when the nationalists who fled to Taiwan. They were running the mainland alien so why the sensitivity. He what. We'll Tom Because one hundred and twenty five years is not very long time in the way of China's paypal and the Chinese government see themselves CBS and has precisely one hundred and twenty five years that I see correctly in some ways as being a very black period in the history and that the the great mission of the Communist Party has been to bring China out of that as I said before the rejuvenation of the Chinese people. It's hard to underestimate. Overestimate the the emotional power Al behind this idea of China returning to its previous position and Taiwan has become a and the Chinese Communist Party has made Taiwan into a a symbol of everything bad that happened to China before and everything that Diane resolved to fix and the way in which they they put Hong Kong back into into the fold the YM which have grown their economy the way in which they have reasserted China's military power and have trying at least to reassert itself the parish cultural pass at a speak. All of that is part of the deal but Taiwan is in a sense that the jewel in the crown for them and so I think the the political political and to a certain extent the emotional fright that the Taiwan issue carries does make it absolutely central to the Communist. Party's not just its own sense of itself but it's confidence that it can continue command. The loyalty and achieved legitimacy in the eyes of the Chinese people as what Communist Party delivers not just in terms of prosperity but in terms of China's dignity and position in the world symbolized by Taiwan that is so central to its legitimacy as the government of China Anna. And does that mean Natasha Qassam. That is now a very real danger that the listen Beijing takes from size relection. Is that the only way. Taiwan will ever a unify with mainland China. As at the end of a gun. Look that's entirely possible but I have to say I'm not convinced that as an argument mainly because we like to think think of China's military palate in terms of it being this very quick victory. RV Taiwan because they are coming late outgunned in that sense but none nothing about this would be. It would be very difficult to take Taiwan in terms of its geography and even an invasion is really just the beginning. When you have twenty four a million people who don't want to be a part of your country you have? Refugees flocking to other countries in the region including Australia. You'll have resistance in the streets. You'll have disruption to global supply chains at which Taiwan lies at. Its hot this is not an easy proposition. It is laden with
NPR News Now
China Criticizes U.S. Defense Bill as Interference
"President Trump has signed bills that fund the Federal Government through September of Twenty twenty. That's the rest of the fiscal year. The one point four trillion dollar budget package averts a government shutdown next week among them is the defense authorization authorization and is. NPR's Amy Chang reports. It's drawing sharp criticism from China. The Foreign Affairs Committee of China's National People's Congress expressed quote strong disatisfaction action with the National Defense Authorization Act after President Trump signed the bill into law. Beijing called it quote interference in Chinese domestic affairs and National People's Congress spokesperson objected. I got to tell in the bill that affirmed. US Arm. Sales to the self-governing Taiwan a renegade province in Beijing is the spokesperson said this undermines both US trying to relations and the peace instability in the Taiwan Straits he further pushed back on provision in the bill that support pro democracy demonstrations in Hong Kong. And another that commissioned a report to examine Beijing's treatment weaker Muslims in Xinjiang
BBC World Service
Taiwan calls for international support in face of China pressure
"Now to Taiwan with foreign minister Joseph Wu has argued that the island requires additional support from democratic allies to stand up to increase diplomatic and economic pressure from communist China in an interview with the B. B. C.'s Tokyo correspondent Rupert Wingfield Hayes Mr Wu said recent events in Hong Kong proved that Beijing's governance model I've been a complete failure and would never be acceptable to Taiwan the Chinese government face a very seriously they might even dog dealing with Hong Kong issue on the one hand they are not able to promise the poultices on those free election or others demands of war to win the independent investigation up on the police violence in on the other hand if the Chinese government decides that that is going to much and they want to move their force into Hong Kong and deal with the situation many Charlie many people in the world would agree with me that was signified the whole whole faded off the one country two systems so they are caught in the situation that the whole situation is going to deteriorate and they suffer you off the one country to so some auto or a military solution that will also signify a fairly well off the one country two systems so they got one eye on Taiwan when they're thinking about this as well yes in after all the violence and protests activities in Hong Kong in the last three months the public opinion surveys subjects at that thought close to ninety percent of the company's people would reject one country two systems when you look at China today it's difficult not to come to the conclusion that the Chinese Communist Party is biding its time building up its strength and certainly under the leadership of cheating paying now has a and the valves intent to force unification of Taiwan with China in his lifetime it looks like it is that way and now we are working very hard in the trying to maintain the status quo trying to maintain peace and stability across the Taiwan Strait and dog if you look at the key players in the like my to countries like the one of the city's major you countries or Japan in etcetera I think they understand the situation rather well it is China that is trying to chip away the current status quo and they understand that they injure in that and therefore they're raising their level of voice of concern over this kind of situation and they also intensifying their support for Taiwan either diplomatic support all political support or willingness to engage with Taiwan at a high level that was Rupert Winfield Hays speaking to Taiwan's foreign minister Joseph Wu a month before the islands is due to hold a presidential
Morning Edition
Taiwan confirms request for US tanks, air defense systems
"Taiwan is seeking to buy military tanks air defense missile systems from the US NPR's, rob Schmitz, says it's a major arms deal that threatens to raise tension between the Trump administration and China Taiwan's defense ministry said in a statement that has requested more than one hundred Abrams tanks and hundreds of anti-tank and air defense missiles from the United States, it wasn't clear when the official request was issued after which the US has one hundred and twenty days to respond if US is the main supplier, defensive weapons to Taiwan which China considers its own territory to be brought under its control by force if necessary, the Abrams tanks would make a significant upgrade from the aging tanks Taiwan's army now uses while the missiles would help Taipei. Lord, an attempt by Beijing the land tanks and troops across the Taiwan Strait. Taiwan's announcement comes as the US and China or engage in an increasingly tense