38 Burst results for "Xi Jinping"
Fresh update on "xi jinping" discussed on Mark Levin
"White House office of science and technology policy director, arati prabhakar, if that is his or her name. Watts told the Washington examiner that Chinese Communist Party, particularly under Xi Jinping. Explicitly aims to become the dominant world superpower in the next decade and they aim to do it through technology. Chinese government said it's rapidly passing us in those areas because they're stealing their way to the top. Oh, I thought it was Donald Trump. And his documents. Now what is the FBI going to do about this? What is Biden going to do about this? The manchurian putative president. His bought and paid for by the communist Chinese military government. The monies of which were washed through, among others, his son. Hunter, you may have heard of him. So the communist Chinese have not only infiltrated our biggest top secret nuclear facility. But they've infiltrated the Democrat party at the highest rank. The stooge, I mean the putative president, whose in charge of that party, and now in the Oval Office. But don't worry, we have more resources. Than ever before, in fact, enormous resources. It's the biggest investigation. The FBI has. Followed no doubt by Donald Trump, followed no doubt by pro life. Protesters. The warning was sparked by a September report by strider technologies of private intelligence firm, titled the Los Alamos club how the People's Republic of China recruited leading scientists from Los Alamos national laboratory to advance its military programs. The report concluded that at least 162 scientists, folks, who had worked at Los Alamos, returned to China, quote, to support a variety of domestic research and development programs between 87 and 2021 with 15 of the scientists having worked as permanent staff at Los Alamos and of 1513 having been recruited into Chinese government talent programs. The investigation found at least 59 of the scientists have been part of China's thousand talents program, where it's you thousand talents program I have a question. From 1987 to 2021, what department, what agency, what bureau has been responsible for protecting us from this? What you're on, mister producer. The federal bureau of instigation you're correct It can't even protect us from this. They've got thousands of people working at the federal bureau of instigation. Thousands, they have billions of dollars. I don't understand. Wouldn't this be logical to conclude that this is target number one? Los Alamos? Target number one, Los Alamos national laboratory to advance, its military programs. That's what the communist Chinese are doing. They've had scores of spies there? Scores. Dressed up as scientists, get it occurred to anybody at the Federal Bureau of Investigation, AKA the American Stassi. That this deserves the focus, what will the January 6th committee say about this? Nothing. Nothing. How about the constipated news that nothing? How about that? Nothing. Nothing. The FBI is reportedly warned about China's thousand talents economic espionage program. And how about how the Chinese effort also targeted the Federal Reserve over many years? And what are they doing about it? They're using resources. To chase down average joes and average sallies. The Department of Energy's world leading national laboratories, like Los Alamos national lab, play critical role, isn't it amazing all these Sunday shows? Nobody asked Jennifer Granholm about this? Hey Jen, he called you Jen? Jen. What have you been doing about this? Now what? She's another one with the stocks, by the way. Another one with the stocks. What have you been doing about this, Jen? Since this lab is under your tutelage, since you're responsible for it, former Los Alamos scientists pleaded guilty in 2020 to a charge of making a false statement to a federal investigator about his involvement. In China's program, he received 5 years of probation. He got a lesser sentence than the vast majority of people who have been charged for parading and trespassing during January 6th. You see their insurrectionists, these are just communist Chinese spies. Which is worse. Which is worse. I'll be right back. What? On 77 W ABC. Talk radio 77 WABC. Weekdays. Listen to Frank murano on the other side of midnight and weekends. Listen to Curtis liwa on another side of midnight. Stay up all night with me
Fresh update on "xi jinping" discussed on Sound ON
"Given the current state of U.S. China relations, there are less concerned about the U.S. convincing China to put a lot of pressure on North Korea. But more broadly to your point, I think that the confluence of increased tensions around Taiwan and the war in Ukraine is really and certainly I feel this in the consulting business is making people very uncertain about the near term future and the security space. And it's going to put real pressure on the Biden administration to do debt diplomacy. What are your clients most worried about? I think there's concerns about the situation around Taiwan could escalate out of control. And I reassure them that there are lots of circuit breakers that can prevent things from escalating and becoming incredibly dangerous or disruptive, but people thinking tens of billions of dollars in various businesses are always, of course, concerned about the risk. Well, we thought there might be some circuit breakers in Ukraine as well, didn't we? That's right. And those circuit breakers didn't seem to work mainly because of the character of the Russian leadership. And this is a fundamental question for the United States as they consider the issue with respect to Taiwan. At the end of the day, Xi Jinping are rational actor. The disincentives or the cost to China of drastic action on Taiwan military action from any objective standpoint look far outweigh the benefit. But there is an emotional and historical element to this issue that is quite powerful as well. And so handling that skillfully is really an important challenge for the United States and for China. Are you curious about Kim Jong-un's silence over the past couple of weeks? He's been out of the public eye more than three weeks now as long as absence in a year, they made a big deal out of it last time he disappeared for a while. And it's uncharacteristic as we're writing on the terminal, typically this comes with a lot of chest thumping when you have missile tests like this, but there's almost no one talking. Yeah, I never know what to make of that those kind of absence questions. It could be as just taking a vacation somewhere. But who knows? It's really hard to guess. Lastly, ambassador if the United States got into something deeper here, regretfully. And of course, nothing that The Pentagon is planning now. But if something did spiral out of control around Taiwan or North Korea would we be able to balance from a weapon standpoint, wars on two sides of the world supporting Ukraine and becoming involved in a conflict in Asia. I think it would strain our resources. I'm not a deep expert on this, but my understanding is that it would be a strain, but the military planners have for many years thought about ways to have a robust presence in both Europe and the Pacific. And so I wouldn't despair, but it is an issue of concern. Something we don't really want to think about. Kurt Tong, I want to thank you for being with us. He's managing partner at the Asia group, former U.S. consul general in Hong Kong and Macau former U.S. ambassador for Asia Pacific economic cooperation ambassador. Thanks for being with us today on Bloomberg. Thank you. So the pressure is rising and coming up, we assemble the panel for their take on this Bloomberg politics contributor democratic analyst Genie champ xeno along with Republican strategist Bill mcginley from the vocal group. This is Bloomberg. Progressive snapshot can save you money based on how you drive and how much you drive. So the safer you drive, the more money you could save. Now, if you didn't hear that because you were yelling at another car while driving, let me say it again. You need to calm down. Yelling is just making everyone is stressed out as you are and letting them all know that you definitely aren't trying to save with progressive snapshot. And if you did hear it the first
Fresh update on "xi jinping" discussed on Balance of Power
"Economy in the world is China, which you said before, will be the defining issue for us geopolitically for the years to come. We're about to have the next party plenum with president Xi renewal and a lot of changes being made over there. What are you looking for as they go into these meetings? Well, there's no uncertainty about the outcome. Xi Jinping will get his unprecedented third term. Few questions about how much control he has over the other senior appointments, whether in any way he's constrained. I think the real issue though with China is I don't envy his inbox. David, if you add up their financial problems, their real estate problems, their unemployment problems, their drought, their COVID problems, their demographic problems. Who right now would want to inherit what Xi Jinping is inheriting. I think he has massive problems. The good news is he doesn't want to get sanctions placed on China right now. So there might be an opening for a slight improvement in U.S. Chinese relations. The bad news at some point is he may turn to foreign policy adventurism as a way of distracting a frustrated populace. So I think this is an important moment for diplomacy with the United States and China. I'm glad the President Biden is going to have a meeting with Xi Jinping later this year. So I think this could be an important moment to see if we can't stem some of the negative momentum in this critical relationship. So exactly. You advise presidents on things like this. If you were advising President Biden, where would you start in trying to give at least some help to prison Xi to try to reestablish better relations to our own interests? I think the most important thing is, first of all, to lock in their lack of military support for Russia on Ukraine, not to focus on things we can't control like their oil purchases. Mainly though, we've got to talk about Taiwan. We can discuss all the peripheral issues, David, but at the end of the day, Taiwan is going to be front and center in U.S. Chinese relations. We have finesse this issue for more than 40 years with China. We have got to return to some of the basic formulas and make sure that the United States and China do not allow Taiwan to become an impediment to their overall relationship much less a source of conflict. So I think we need a private, careful, smart, strategic conversation with China about setting new parameters on what they do and what we do in terms of Taiwan to make sure again that this problem does not become a crisis. From my perspective, at least Richard, you know how far better than I, the arc of the issue of Taiwan is not going a good direction from either side from China's or from the United States. It seems to be getting worse rather than getting better. Is that right? And what could be done to turn that around? Well, I think it is right that things have been deteriorating. China has changed certain behaviors in a worrying some direction in the aftermath of the Pelosi visit. Congress is considering some symbolic steps that I think would be counterproductive. What we need to do is once again recommit to the idea that the status quo, what not to be changed by unilateral actions by either side, either by the mainland or Taiwan. And we ought to have certain understandings about the parameters for what either side would do within that within that overall structure. I think it's possible not to solve this, David, but to manage it. Again, we've managed it. We finessed it for more than four decades. We never tried to solve it. I think that's the wisdom for going forward. Richard, thank you so very much for being with us today. It's Richard Haas. He's the president of the council for foreign relations. Still to come, we're going to talk with the ranking
Russia's war in Ukraine the backdrop to pope's Kazakh visit
"Russia's war in Ukraine can not avoid being one of the main themes during Pope Francis's visit to Kazakhstan Russia's war in Ukraine and the holy sees strained relations with China are the backdrop to Pope Francis's trip this week to the former Soviet republic of Kazakhstan where he's ministering to a tiny Catholic community and participating in an interfaith conference the most noteworthy aspects of France's visit though may be the missed opportunities He was supposed to have met with the head of the Russian Orthodox Church but patriarch kuril who has justified the war in Ukraine has canceled Francis is also going to be there at the same time as Chinese president Xi Jinping Jinping's first foreign visit since the coronavirus pandemic but they're so far no plans for the two to meet I'm Charles De Ledesma
Putin and Xi to meet in Uzbekistan next week, official says
"Official says Russia's leader Vladimir Putin and Chinese president Xi Jinping are to meet in Uzbekistan next week Although a summit could see another step in warming ties between two paths that are increasingly facing off against the west the meeting at the Shanghai cooperation organization a political economic and security forum that China and Russia dominate comes at a delicate time for both leaders Putin's dealing with the economic and political fallout of his war in Ukraine that's left Russia isolated She meanwhile is facing a slowing economy as he seeks a third 5 year term as Communist Party leader while he's expected to secure it that would represent a break with precedent I'm Charles De Ledesma
Chinese think tank: Virus curbs must change to help economy
"A Chinese think tank has disagreed with the ruling Communist Party's severe zero COVID policy saying kerbs that shut down cities and disrupt trade travel and industry must change to prevent hits on the economy The unbound research center isn't being specific but says president Xi Jinping's government needs to focus on shoring up sinking growth It's noted the U.S. Europe and Japan are recovering economically after easing anti disease curbs economists have warned China needs to boost growth that has sunk to 2.5% over a year earlier in the first half of 2022 the antivirus cubs are widely expected to stay in place at least until after a Communist Party meeting this fall at which she is likely to break with tradition and award himself a third 5 year term as leader I'm Charles De Ledesma
China's youth face bleak job market as COVID slows economy
"China's current job drought echoes the struggle of young people worldwide to find work in depressed economies but is especially sensitive politically in a year when president Xi Jinping is expected to try to extend his time in power China's unusually severe approach towards COVID-19 with repeated lockdowns has kept case numbers low but a social cost has sworn the economy shrinking in the three months ending in June and consumer spending plunging the official unemployment rate in June for people age 16 to 24 was almost 20% compared with 5.5% for all ages and that's expected to rise once the latest jobless graduates are taken into account they often come from urban families who are the biggest winners for China's economic growth and important source of political support the ruling party needs them I am Charles De Ledesma
David Goldman: China Is the Most Formidable Strategic Competitor
"David, I want to play to you a couple of video clips from the man who sadly bears the title of commander in chief first was from the campaign for election and then the second one is from actually the Oval Office. So this is Biden before he was president. China is going to eat our lunch, come on, man. They can't even figure out how to deal with the fact that they have this great division between the China Sea and the mountains in the east. I mean, in the west, they can't figure out how they're going to deal with the corruption that exists within the system. They're not bad folks, folks. But guess what? They're not competition for us. Not bad folks not a competition, then I guess he was mugged by reality and this is what he had to say a few months later. Our last night, I was, I was on the phone for two straight hours with Xi Jinping. And you all know as well as I do. These folks, and it was a good conversation I know him well. We spent a lot of time together over the years. I was vice president. And but, you know, they're going to get moving, look at these lunch. Not competition, or they're going to eat our lunch. You're the expert you've literally lit a written the book. Which is it? Tell us China is a competitor or somebody who's going to take it all away from us, David. Well, China is the most formidable strategic competitor. The United States has ever had. And it's ascendance to a place of dominance in the world where bankers poor, less secure and generally quite miserable. So I'm against it. The thing to remember is that 40 years ago, excuse me. The average Chinese was making $200 a year in U.S. terms. Now it's closer to $20,000 a year. No other country has brought so many people up the income scale so fast.
David Goldman Paints a Unique Picture of China
"Is a place where a lot of things are kicked down the road for a very long time and in the short run don't make sense. From China standpoint. And this is not simply the fact that there's a communist government from the standpoint of any government in China, the nightmare of the emperor who sits in Beijing is a rebel province, because China is not a nation state. China is a polyglot collection of different peoples who speak 200 dialects, Cantonese, can't understand a word of Mandarin, the citra needs can barely understand Mandarin. And many times at its past, countless times China has broken up into warring provinces and had long periods of chaos with terrible suffering and in each of these cases foreign intervention typically made the internal divisions worse. So the nightmare of Beijing of Xi Jinping is Taiwan becomes a dependent and long so province, canton decides why should we be part of China either. Sichuan does the same thing. And China begins to break up. So in order to prevent the possibility of the fragmentation of the empire, as has had so many times in the past, China will go to war to prevent any part of its territory. Being split off. And that's why the Taiwan issue is more than a matter of 23 million Chinese living 90 miles away from the mainland, a country of 1.4 billion. The symbolic end, if you will constitutional value of Taiwan to China, is inestimable. So
China Views Pelosi's Visit as Opening the Door to Support for Taiwan
"There's a reason that China has increasing the tensions, and that of course is to distract from their failures at home. Xi Jinping is trying to consolidate power. And he is also viewing the United States as a weak horse. And so now is the time for him to ratchet up tensions and try to back the United States off of Taiwan. Kirby continued along these lines, basically begging China not to be angry. It was John Kirby from the National Security Council. Has The White House heard of any specific threats from China when it comes to this visit. There's no reason for the Chinese rhetoric. There's no reason for any actions to be taken. It is not uncommon for congressional leaders to travel to Taiwan. It is very much in keeping with our policy and inconsistent with our support to Taiwan under the Taiwan relations act. We shouldn't be as a country. We shouldn't be intimidated by that rhetoric or those potential actions. This is an important trip for the speaker to be on and we're going to do whatever we can to support her. So I actually agree with John Kirby here, a shocker. I actually agree with the plan by Nancy Pelosi to visit Taiwan, but you better have the balls to back it up. That is the key in foreign policy. If you are going to talk big, you better have the stones to back it up. And you better make it clear that you are going to back up that sort of action with serious ramifications of God forbid. They were to shoot down a jet with Speaker of the House Pelosi on it, right? She's the third ranking official in the United States, not in terms of the executive branch, but third in line for the presidency and the most powerful person in the House of Representatives, which theoretically is supposed to be the most powerful branch of the United States government, not the executive. According to The Wall Street Journal for Beijing, a visit by Pelosi is seen as a high profile instance of rising U.S. political and military support for Taiwan, contravening Washington's commitments to limit its ties to the island, allowing a Pelosi visit to go ahead without consequences at Chinese foreign affairs at specialist said, but only invite more senior political officials from the U.S. and other countries breaking Beijing's diplomatic blockade of Taiwan, which, by the way, should happen.
Pelosi Poised to Visit Taiwan As China Threatens Military Action
"Have a strong belief that we should do everything we can to convince the Chinese that they shouldn't do anything aggressive towards Taiwan and that our policy can include aggressive deterrence. I don't think they've managed to pull that off with the inability of The White House to articulate this position. But what if all right, now it appears she's going. It sounds like that she'll be there Tuesday night and the Chinese have literally threatened that if we fly military aircraft into there, they're going to do something about it. Are they blowing smoke or could this actually blow up? Well, I don't think they're going to shoot down in American military aircraft. But when Xi Jinping tells President Biden as he did, if you play with fire, you will get burned. That is language stronger than the Chinese have used at any time since we established diplomatic relations. Not since the Korean War have they said things like that. Remember, Xi Jinping is facing a tough contest for his third term as premier. He's got the 20th Congress of the Communist Party coming up in November. And after he's put his credibility on the line, there's no way he can back down and do nothing. So what I would expect is not a kinetic action on China's part. I think more likely would be a blockade, and they dare the United States to try to break the blockade. That's up to easy when Taiwan's 90 miles of the Chinese coast and they have the home court advantage. As the Chinese keep saying, they've got what about 1400 surface to ship missiles, and most experts certainly the Rand people, the air force, believe that the Chinese could sink pretty much any American ship within. 500 miles or more of their coast.
Pelosi lands in Singapore to kick off Asia tour
"There are still questions as to whether House speaker Nancy Pelosi will visit Taiwan even as her Asia tour has already begun a person familiar with the matter says Pelosi and her delegation arrived in Singapore before dawn today Singapore's foreign ministry says Pelosi will meet with the country's president prime minister and a number of cabinet ministers Pelosi said over the weekend at a statement that she'd also visit Malaysia South Korea and Japan but she has not confirmed news reports that she also might visit Taiwan which China claims as its own territory in a phone call with president Joe Biden Chinese president Xi Jinping warned against meddling in Beijing's dealings with the island Donna water Washington
"xi jinping" Discussed on TIME's Top Stories
"China's Xi Jinping warns president Joe Biden against playing with fire over Taiwan by Charlie Campbell. Chinese president Xi Jinping warned U.S. president Joe Biden not to play with fire over Taiwan during a phone call early Thursday, with tensions between the two superpowers swelling in recent days over a proposed visit by House speaker Nancy Pelosi, to the self ruling island, over which Beijing claims sovereignty. Biden and she spoke for two hours and 17 minutes on a range of topics, including pandemic recovery, trade and supply chain resilience, but it was Taiwan that dominated the agenda. Resolutely safeguarding China's national sovereignty and territorial integrity is the firm will of the more than 1.4 billion Chinese people. She told Biden. According to a Chinese readout of the call, those who play with fire will perish by it. It is hoped that the U.S. will be clear eyed about this. China described the call, the leaders 5th since Biden took office as candid, and in depth, the language was markedly stronger from the two leaders last call in March. When she warned Biden that if the Taiwan issue is not handled well, it will create an overturning influence on bilateral relations. According to The White House readout of the call, President Biden underscored that the United States policy has not changed and that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan strait. Washington doesn't have official relations with Taiwan and follows a one China policy that diplomatically recognizes Beijing. But it is obliged by act of Congress to provide the island with the means to defend itself, and maintains scores of unofficial ties with Taipei. Where Pelosi two visit Taiwan, she would be the first House speaker to do so in a quarter century, although The White House and U.S. security agencies are reportedly working behind the scenes to convince her of the escalation risks, with Republicans likely to retake the house following midterms in November, the veteran Pelosi, age 82, appears to be nearing retirement and looking to cement her legacy as a champion of Taiwan. Still, Biden told reporters last week that the U.S. Military thinks the trip is not a good idea right now. Experts say that dozens of risky military confrontations between China and other Asia Pacific nations, like Vietnam and the Philippines, have occurred this year. That includes close flybys and harassment or obstruction of air and naval crews. Sometimes involving lasers or water cannons, U.S. assistant defense secretary Eli ratner, told a South China Sea forum by the center for strategic and international studies on Tuesday. We see Beijing combining its growing military power with greater willingness to take risks at. Beijing has especially stepped up its rhetoric and actions toward Taiwan in recent months. Repeatedly sending warplanes into the island's self declared air defense identification zone. Russia's war in Ukraine has heightened threat perceptions across Asia, and U.S. officials have expressed concern that China's moves may auger even more aggressive steps ahead. Domestic issues in both the U.S. and China are contributing to the raised tensions. While Biden is keen not to look soft on China at a time when his approval rating is below 40%, Pelosi's trip would coincide with the Chinese Communist Party's annual leadership conclave and the seaside resort of bay Ho, for these reasons, it would be a loss of face for she just as he prepares to assume a protocol shredding third leadership term in
Biden, Xi to hold talks amid new tensions over Taiwan
"Renewed tension over Taiwan will likely be part of president Joe Biden's coming call with Chinese president Xi Jinping A U.S. official says President Biden will talk with China's president Xi Jinping on Thursday The plan call comes amid word that House speaker Nancy Pelosi could soon visit Taiwan The Chinese government has already warned of forceful measures should Pelosi visit the self ruled island that China claims as part of its territory Last week Biden told reporters U.S. Military officials believed it was not a good idea for the speaker to travel to Taiwan at the moment The plan talked between Biden and she will be the 5th in a series of regular check ins and has been in the works for weeks Tim McGuire Washington
Kyle Bass's Reaction to Xi Jinping's Comments on Capitalism
"Gigi Peng wrote in one of his musings at some point or a speech that he gave all about how the theory of western capitalism is the ultimate force and it's being shaken to its core. Socialist development has experienced a miracle. Western capitalism has suffered reversals of financial crisis credit crisis. A crisis of confidence and their self conviction has wavered Western countries have begun to reflect an openly or secretively compare themselves against China's politics, economy and path Gigi ping on the inevitability of socialism about here immediate reaction to Gigi ping's musings on the inevitability of the Chinese future. It brings a smile to my face. We all know communism is never worked. And they are the second largest economy in the world say if we give them the benefit of the doubt or the conversion of their currency into ours, but they still have a closed capital account. They have to build a wall to keep their own people in. They have to rinse the Internet of anything that's not Chinese propaganda that's going to their people. China is really a joke to the world and yet they pretend to be the model for stability and prosperity and we're going to see going forward that that's just not the case. And we're right on the precipice of that.
The Biden Family Is the Best Example of 'Elite Capture'
"Maria bartiromo and Marsha Blackburn exposing the Biden crime family. This is all part of it, by the way. The Biden family is the best example of elite capture that we have. They've been totally captured by the Chinese Communist Party. They're held hostage by the Chinese Communist Party. They do what they want. Play cut 20. Let's take a look at that right now because I have a graphic of what appears to be Joe Biden's China policy. First, we know that the family reportedly accepted $31 million at least from deals in China. That is from hunter's laptop. And senator Ron Johnson's investigation and Peter Schweitzer's reporting fails to demand any COVID origins investigation. We have no evidence that Joe Biden ever brought up the origins of COVID to Xi Jinping in the 5 phone calls that he's had. He's failing to call for an end of the fentanyl trafficking. I have not heard him mention fentanyl wants to fentanyl is made in China, pushed through Mexico into America. And it continues. He has canceled the China initiative. This was an initiative that was investigating the continued Chinese intellectual property theft. He's considering lifting the tariffs on China imports. He sent oil from America's strategic reserve to other countries, including China, and he is pushing electric vehicles solar panels and batteries, aggressively in his climate change agenda and many of those are made in China. And that's just part of it. Good for Maria bartiromo for saying that. And not to mention our elites do business with China, BlackRock is heavily invested in China, our corporate masters are intertwined with China. Bought and paid for by the Chinese Communist Party. And if I was China, I think that last email was super smart, I would try to do everything I possibly can to try to incite division and chaos here domestically.
Xi arrives in Hong Kong for 25th anniversary of handover
"China's Xi arrives by train in Hong Kong for a major anniversary of the handover Supporters mass at the train station waving Chinese and Hong Kong flags chanting welcome welcome warm welcome as Xi Jinping arrives the Chinese leader is in Hong Kong ahead of the 25th anniversary of the British handover and after a two year transformation bringing the city more tightly under Communist Party control it's Xi's first trip outside of Mainland China in nearly two and a half years
"xi jinping" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Middle East. Our top stories this morning. The ram master says that the fed is just at the beginning of raising rates. Meanwhile, Jay Powell insists a recession can be avoided, but warns the task is getting tougher. The path to act of 2% inflation, while still retaining a sustaining a strong labor market, we believe we can do that. That is our aim. There's no guarantee that we can do that. It's obviously something that's going to be quite challenging, and I would also say that the events of the last few months have made it significantly more challenging. John is economy shows further signs of improvement, but president Xi Jinping is sticking with COVID zero saying strategies such as herd immunity would have unimaginable consequences. President Biden praises turkey's Erdoğan for finally relenting to Sweden and Finland joining NATO and for helping to get grain out of the Ukraine. And Uber raises first in the United Arab Emirates for the second time this year amid a surge in gasoline prices that has I paced the increases in neighboring oil rich states. It's just gone 8 a.m. across the Emirates, some men's grain in Dubai, and I'm used to Medellín right alongside you. So stock futures, leaning to the downside, we have to China data to digest and finally Wall Street analysts are moving on some of the earnings estimate JPMorgan downgrading some of the biggest tech companies on the S&P 500 mini were called down by about three tenths of 1%. We're really stood out to me. It's a note from George bawley, 60 year Wall Street veteran. He says the S&P 500 will sink to 3100. That's 35% of where we are now. He says that will be just a normal cyclical adjustment. What also caught my attention is some of the earnings announcements guidance. Specifically when restoration hardware it's not every day we talk about this high end hold furnishing in the U.S. the stock sliding after cutting revenue forecasts on slowing demand. The dire macro warning, they're seeing revenues contracting two to 5 digits in 2023 currently we are down and have post market about 5%. The consumer is in trouble. The struggle is clear as daylight on days like this Bed Bath & Beyond is another example, cruise stocks getting beached. I want to talk about energy also because oil is set for the first monthly decline. This year before the OPEC plus meeting, basically the rubber stamping is expected of a modest increase. Sure. But what really stood out was the inventory data out of the United States, stockpiles there, got released, and that shows that it's tight everywhere. RBC saying, $150, $175 a barrel, $200 a barrel at the end of this year, pick your number because it all speaks in favor of that kind of scenario, Manus. The question for the bond market use of is whether they're ready to declare that central banks are winning the fight and inflation. Now, you've seen rates at tip a little bit higher ever so slightly this morning. Two messages come through loud and clear from the federal Loretta master saying, it's wrong. It would be more costly to believe that inflation expectations are well angered. Yes, the break evens have rolled over dramatically. The 5 year break evens have imploded from 3.1% downsides from 3.76% down to 2.61%. So inflation expectations are rolling over. So what is a bond market thing? Well, the fed's looking for 4% at the end of next year. This is what the deck deck spread is saying, already they are pricing in 3% by the end of the year next year. So 3.08%. That is 50 basis points below where December futures are indicated at the moment. So the bond market is beginning to believe that the shakedown from the central banks is beginning to work. What does that mean for the dollar? Let's have a look at the dollar. I mean, you're up 7 and a half percent year to date. It was up 9% at its zenith. But you hear pile talking about the inflation fight will cause a bit of pain. In that sense of pain in terms of raising rates in economic pain, where do you want to be? And as Loretta master says, we are just at the beginning of raising rates. So there's a tussle between the market and the fed as usual. Tussles with the Asian market session every day. What's going on Jews? Well, it is a bit of a tussle because Mattis, you mentioned there that better than expected PMI data that we had coming through out of China, but at the same time you've got president Xi still saying that the path for them is COVID zero, but you also have that relaxation of some of those quarantine restrictions in place earlier in the week. So you are seeing an upside in China's CSI 300 very much taking that positive momentum and as we know we've been talking about this market getting very close to bull market territory, Hong Kong is a little bit more flat and we are seeing weakness in some of the other markets across Asia and this is as we continue to really be worried by global growth concerns that they are down by about one and a half percent. It's certainly been a better session for Asian currencies though today and that is on the back of that PMI data. We've had the one game we've had South Korea's one rebound as well. If you own a limb who manages FX over at malayan bank here in Singapore saying that this better pay my print out of China could be soothing sentiment and give a bit of a breather for Asian currencies which are actually on track for their worst quarter since 1997, creating a different dilemma for central bankers in this region. Let's quickly have a look at that PMI data. I know you're going to get into it with more detail with ender, but it was a bait in terms of that official PMI 50.2 from 49.6 in May that's the first time since February. We have seen that back in that expansionary territory and the non manufacturing at its highest in more than a year still a lot of challenges though for this economy and still overall estimates of about 4.1% growth for China this year, Manus, which is well down from that 5 and a half percent that they had flagged. Yep, was certainly going down in history as the worst as the worst first half for a number of sectors of the market deals. We'll catch up with you a little bit later on. So Jay palm, he says the U.S. economy is in strong shape and the Central Bank can reduce inflation without causing a recession even though that task has become trickier. The path back to 2% inflation, while still retaining a sustaining a strong labor market, we believe we can do that. That is our aim. There's no guarantee that we can do that. It's obviously something that's going to be quite challenging, and I would also say that the events of the last few months have made it significantly more challenging. Meanwhile, Paul's colleague Loretta master says the fed is only at the beginning of raising rates. Let's get more with our global economics and policy editor. Kathleen Hayes, Kathleen, good to have you with us. So it was an overall hulk ish tone from that panel at francine moderated. Your first take. Well, when it comes to Jay Powell, and I think he's the person who sort of led the pack today, he is ready. He's made it very clear he is ready to risk recession in order to get inflation down. He said the big risk is the fed doesn't do enough. Not enough to fight inflation. The big risk isn't recession. When he was asked about this very question, could you push too far? Listen to how he responded. Is there a risk that we would go too far certainly? There's a risk. But I wouldn't agree that it's the biggest risk to the economy. I think the bigger mistake to make. Let's put it that way. Would be to fail to restore price stability. Powell said there's a clock running. You can't let inflation expectations get entrenched. This is classic central banker many max strategy. You minimize the worst. The maximum mistake you could make. And in his eyes, in the fed's eyes, a recession, yes, it wouldn't be nice. But the worst outcome would be inflation that doesn't come down, a fed that has to be even more aggressive. Loretta mester says, the fed has to act forcefully in her remarks at center. She also pointed out that fed research shows that you get better outcomes when the fed worries too much about inflation expectations, not when it doesn't worry enough. As you said, just the beginning of rates, she sees the funds rate at 4% next year or a bit above, very different from the bond market right now. And I think we can kind of put the two sides together is this. If
Gordon Chang Describes China's View of the Russia-Ukraine War
"Heard two different interpretations of how Putin's latest military action affects Beijing. One is it would be used as cover. It would be used to distract from a move against Taiwan and second I'm hearing that the international reaction to Russia, the arming of Ukraine has given strategic pause to Xi Jinping. Can we tell which of those is more accurate? Are they are they happy that Putin did what he did or are they annoyed at how sloppy he's been in the execution of the invasion. I think that Beijing looks at the Ukraine and they take away a number of lessons some which encourage them to be more aggressive. Some of them inhibit inhibit them. But I think that on balance, they've been emboldened. And the reason is that first of all, and this is the most important lesson. There was the greatest breakdown in deterrence since the start of the Second World War. Although the United States, the 27 nations of the European Union and Great Britain had an economy 25.1 times bigger than Russia's in 2021. We failed to stop that invasion. So you have a far weaker party. Basically defy the world. And they got away with it so far. And I think China looks at that and says that we would similarly fail to deter China that we don't have the willingness to use our power. The other thing is that although there have been sanctions on Russia, those sanctions have not been as effective as people had hoped. Russia's ruble is doing okay. They're selling a lot of loyal. By the way, to China. And so I think that the Chinese believe that, look, the west can't enforce sanctions. And by the way, the Chinese are so arrogant these days. They think that we wouldn't impose sanctions on them in the first place or that they would be able to skate by them. So I think that the only thing that they look at at Putin and our irritated is that Putin may have delayed their plans for attacking a neighbor,
Gordon Chang on the Rapid Decline of US-China Relations
"Give us the update from the anchorage summit to today, have things improved with regards to U.S. Sino relations. Are they static? Have they gotten worse? Give us an update, Gordon. They've gotten much worse. And the reason is that the Chinese have become much more aggressive. From anchorage, which was March of last year, we have gotten a series of propaganda blasts from Beijing around the fall of Afghanistan in August, where they're very clear and they're very open about it. And over the last couple of weeks, we have heard the Chinese say things and we've heard the and we've seen the Chinese do things which show utter disrespect for the United States. So we're at a point where deterrence is broken down and this is exceedingly dangerous. Perhaps the most dangerous times in our lives. And you know, people will look back at the Cuban missile crisis of 1962 or the checkpoint Charlie crisis of 1961 and say those look more dangerous. And yes, they did. But we also know now from the archives that both Kennedy and khrushchev knew that they would never start a nuclear exchange. We don't know what Xi Jinping thinks about using his most destructive weapons. This, I think, is more dangerous than 61 and
Sebastian Welcomes Gordon Chang of 'The Great US-China Tech War'
"He is the author of numerous works. You have to check out the most recent being the great U.S. China tech war. He is, of course, Gordon G Chang Gordon. Welcome back to America first. Thank you so much, doctor G. Gordon, let's start. Can I start with a kind of very prosaic kind of layman's question? We'll get into all the very technical and deep national security issues. But in the summer of 2022, did you expect for a nanosecond that we'd be where we are today in terms of China and America after the last two years? It seems as if just one issue. It seems as if culpability for COVID is not an issue anymore. Yes, this is astounding, because we don't know a 100% where SARS CoV-2 came from. 99% it came from a lab, but that's not a hundred. But there is something that we know 100%. And that is that Xi Jinping, the Chinese ruler, made decisions to deliberately spread this disease beyond China's borders. Now, for at least 5 weeks and maybe longer, they lied about contagiousness. They knew that this was highly transmissible human to human, but the told the world it was not. And then they pressured other countries to not protect themselves while they were locking down their own country. You put those two things together, it shows that they definitely wanted this disease beyond
China city mayor apologizes over COVID-19 lockdown response
"A China city mayor has apologized over a COVID-19 lockdown response The mayor of a northeastern Chinese city on the North Korean border that has been under lockdown for more than 50 days has said sorry for failures amid widespread but often disguised dissatisfaction over the government's heavy handed approach to handling the pandemic It's highly unusual for a ranking Communist Party official to publicly concede errors particularly regarding the hard line zero COVID policy that's been repeatedly endorsed by top officials under president and party leader Xi Jinping I'm Charles De
Our Foreign Enemies Must Love What's Happening in the US Right Now
"I'm just going to ask a question. What is America's greatest foreign enemy? You might say Iran, you might say China. You might say Putin and Russia, I would disagree. It's Russia, no fan of Putin. He's a scumbag, but I don't think it's a mayor's great America's greatest enemy. But let's just pick one, pick anyone. Pick a enemy of the United States and let's isolate that. The Ayatollah Khamenei, or Xi Jinping, or how about Kim Jong-un? ISIS. Pick any one of them. If you've sat them down in a private meeting and you said, what would you like to see happen in America when it comes to the inner cities and criminal justice? They would say, I think it would be great. If America stopped enforcing their laws, opened up their prisons and created anarchy on the streets. Now, I'm not saying Soros has the same level of malevolence as maybe the Ayatollah Khamenei, but it's certainly close.
"xi jinping" Discussed on The Charlie Kirk Show
"So the psychology of dictators is something that is very interesting to study. It's also very important. And this is why dictatorships tend to not last very long. Now, you can have ancestral dictatorships where you propagandize the public to believe you to be some sort of deity or divine figure. This is what North Korea has done rather successfully, with Kim Jong il or Kim Il sung or all the other Kim Jong that I think only goes back three or four generations in the 1950s. But China has a similar problem. Xi Jinping otherwise known as Winnie the pooh wanted desperately to become this generation's version of Mao Zedong. He wanted absolute and total power at all costs. Gigi ping was willing to do the tough stuff. Was willing to purge. That's a very important word that word purge is necessary for a dictatorship. Now mind you, dictatorships tend to fall apart because you have to be always on your guard. You have to be vigilant and vigilance quickly becomes paranoia. It goes back to Napoleon. This is one of the reasons why they had to put them on an island. The guy wouldn't stop. Alexander the Great would have been that way if he wouldn't have died from a mosquito on his way back from India. It's a true story. Died from an insect bite. So a new story is quite interesting out of China, with all of that buildup, which is there is an anti Gigi ping article that has been going viral in China in the midst of the Olympics. That may derail Xi Jinping's bid for a third term. Now this idea of term implies that China has some sort of representative government. It's appear in total dictatorship. Now, their form of a dictatorship is all the kleptocrats sit around a table and decide who's in charge. Now if I remember correctly, Xi Jinping used to be a mayor of Shanghai or Beijing or he was kind of in charge of a provincial provincial part of China. It was well known that Xi Jinping many years ago was going to assume power. He just kind of had the entourage of the feel. He had the style. He had the look. He was willing to do it. What I mean by the style is he presented himself in a very authoritative Chinese nationalist way. He was able to split the difference with the west. Keep the labor arbitrage going, kind of soft attack the west without actually outwardly doing it, that's a balance that many members of the CCP wouldn't be able to do. But I'm reading from zero hedge dot com, Chinese experts have said that Xi might not support a secure a third term excuse me, which will be revealed at the CCP's party Congress this fall. Although Xi amended the party's constitution in 2018 to remove term limits. So he's basically king for life. You remember when that happened? He basically got rid of elections. The 40,000 word long article listed mistakes that Gigi ping has made in politics economy and diplomacy. It's a summary of Xi's ruling over the past 9 years. After 2018, we all said there's no way to force to stop G from taking a third term, Lee hang queen, a Chinese expert from the Washington institute said. But now they see the situation isn't simple and it's unclear that he can obtain it. Quote, this article circulated broadly inside and outside of China sent from several friends on the mainland of China, shows that CCP factions against Xi Jinping are fighting to stop Xi from continuing and office. Looks like there's a little trouble in Paradise. While they get the Olympics and they're on the world stage and they basically got away with the crime against humanity of the last hundred years, developing hatching and either intentionally or unintentionally releasing a killer virus on the planet, lying about it covering it up coming out wealthier and stronger than ever before, getting the Olympics because of it and seeing the American currency deteriorated our borders wide open are elections totally corrupted, your belt and road initiative goes on forwarded. Yeah, I'd say that China's actually had a pretty good last couple of years with all of that. But still, there's trouble in Paradise. On January 19th, this author wrote this article called arkan China. Now, let me just pause. If this was done by the CIA, it would be the first useful thing they did in the last 50 years. This is what the CIA should be doing. The CIA should be working with dissidents in China that pretend to be CCP plants. Working on this kind of very persuasive narrative farm and helping distribute it. We used to do stuff like this. And again, I'm not really big on regime change, but a weaker China is good for America..
"xi jinping" Discussed on Today, Explained
"Of an international <Speech_Female> community <SpeakerChange> attitudes <Speech_Music_Female> toward china. <Music> <Music> <Music> <Music> <Music> <Music> <Speech_Music_Male> <SpeakerChange> <Speech_Music_Male> <Speech_Male> <Speech_Male> Louis quo <Speech_Male> reports <Speech_Male> on china for <Speech_Male> the washington post. <Speech_Music_Male> <Advertisement> Our episode <Speech_Male> <Advertisement> today was produced <Speech_Male> <Advertisement> by haughty mewa <Speech_Male> <Advertisement> d. and miles <Speech_Male> <Advertisement> brian. I'm <Speech_Male> sean romney's firm <Speech_Male> and this
"xi jinping" Discussed on Today, Explained
"Affects your life. Then they invited guests from nerdwallet massive network of financial experts to answer real listeners. Money questions maybe they have the same questions you do. They cover topics like how to approach buying a house as unmarried partners or making. Sure you're maxing out your roth. Ira where to go for travel insurance and much more practical stuff. You can subscribe today wherever you listen to. Your favorite shows the show again as nerdwallet. Smart money podcast support for this show comes from imperfect foods and imperfect foods wants to sell you. Who'd with bumps and scars has bumps and scars me other people you maybe if your grandmother. I don't know that wasn't like a knock on your grandmother. I'm saying we all got bumps and scars. It doesn't mean we should just be discarded into the waste bin. And that's what imperfect foods is here to say that stuff because that's good stuff out there with the bumps and scars and they want to sell it to you unlike the grocery star who wants to put it in the waste bin. So imperfect foods takes this Bumpy scarring stuff and put it on your front door and right now they want to put it on your front door and give you twenty percents off your first. Four orders when go to imperfect foods dot com. Just make sure you use the promo code explained twenty. That is twenty. Percents off your first four orders. An imperfect foods dot com opera code explained twenty by ooh okay lily with with xi jinping tightening his hold on power in china and setting himself up for a third and maybe who knows fourth fifth six term. I'd love to talk a little bit more about where china stands in the world right now. It's got friends and frenemies. Let's start with china's friends said the road initiative is she jinping's landmark foreign policy. So this is supposed to be china's contribution to the broad and it's kind of real mark in international community. Chinese companies are building roads pipelines railroads around the world but the initiative is also building china's influence it's basically about china providing cheap infrastructure and she'd financing. You're on the outskirts of bandeau. The commuter train is old and slow power plants. They are they're media. Companies there's financing now cutting through the hills that lead to interviews capital jakarta. There's a tunnel for a high-speed train and the engineers and managers who lead the six billion dollar project or chinese and any other projects that it can offer to potential friends in asia the middle east africa europe. So basically everywhere. It feels like china's been promoting this policy for almost a decade. Now i mean how successful has been in expanding the country's influence around the world in some ways you could say that it has not been that successful because china has still been isolated on the international stage by the us and its allies on the other hand you could say it has been pretty successful because any time something comes up at the. Un china is able to get a long list of countries that support its statements and measures sixty four countries have issued a joint statement atagui and human rights council meeting to express support for china's policies in xinjiang in response. Chinese foreign ministry spokesperson jolly china's policies in xinjiang are not about human rights as necessity or religion but about con batting violent terrorism and separatism mentioned the united states. And it feels like the united states for years now has been trying to combat china's ever expanding influence around the world where do u s china relations stand right now. So you're trying to relations right now are pretty bad. Biden has continued a lot of trump's policies. And i think there was this question in china of what would the bite in presidency be like. And how how much would he continue. Trump's what was viewed in china as a very anti china policy and by didn't approach is to rely more on allies encountering china's influence but fundamentally at least chinese. It seems to be the same. China has an overall goal. And i don't criticize him for the goal. But they have an overall goal to become the leading country in the world the wealthiest country in the world and the most powerful country in the world. That's not going to happen on. My watch is still be treating china as threat. And of course the biggest news on this front as of late is that president binds going to supply some submarines to australia. Much to the chagrin of france. What's going on there right. So the us and the uk and australia have started this new defense alliance where they will share. Nuclear submarine technology. China is also very upset about it. China's foreign ministry said the three countries were quotes severely damaging regional peace and stability intensifying an arms race and damaging international nuclear non-proliferation efforts. What's also interesting is that china's response has been to pressure different ways of the us but in some ways. They don't really have a lot that they can do. Not because relations with the usa already at a low relations with australia are very bad. They'd been locked in a trade war for more than a year in the uk. They've got this trade deal that is needed but if the us and the uk strike trade. Deal which. I think this kind of paves the way for that. Then that leverage has gone to so some people say that actually the submarine deal. Is you know. It's a reaction to china being more aggressive and that china's backed into a corner. We need to be able to address both the current strategic environment in the region and how it may evolve because the future of each of our nations and indeed the world depends on a free and open pacific enduring and flourishing in the decades ahead. Is this so interesting to think about this. Sort of escalation militaristically and and in terms of economic competition with china because the two economies are really essentially tied to each other right. And this includes evan. The former president was trying to do with china on trade. Yeah i think that's that is correct. You by didn't keep saying he keeps using the term strategic competition that china is a competitor. The language is different in terms of framing china as a competitor and that strategic competition will always be there and on the chinese side. I think there's also some acknowledgement that that competition is always going to be there internationally. You've got china at odds with the us and all these proxy nations taking sides at home. You've got this raft of cultural changes. How is this going to animate xi jinping third term so another idea behind these drastic changes that making is for china to achieve self reliance And that likely comes from you. Know looking at the international landscape looking at the deterioration in china us relations in the knowledge that you know those ties probably aren't going to get better soon so another big part of the change in the economy. Is this idea of china. Rely more on the domestic economy. So i think a lot of the changes overseeing now are are actually in response to What's happening with china the us and what's happening. Kind.
"xi jinping" Discussed on Today, Explained
"That feels like it'd be really hard to enforce. Yes so the way that they enforcing that is by telling broadcasters and content providers not chew promote these kinds of images and not to promote content that includes Men like this one thing. That's going to be a lot easier for. The chinese government to control is the economy. How is xi jinping tweaking. The chinese economy so the main thing that's happening in the economy is that over. The last twelve months the private sector the tech sector has really been rained in and this is under the name of Cracking down on what. The government has called the disorderly expansion of capital and it means weakening some of the country's biggest tycoons in recent months beijing has targeted some of china's most successful companies imposing harsh regulations and fines on. Ride hailing company and tech giant's alibaba and tencent and so with these tech companies. The idea isn't to destroy them or to wipe them out for them to not play a big role in the economy but rather to kind of harness them and have them serve the state and you know serve. The party's agenda. It's interesting to hear that thinking about the united states where there's all this talk about reining in big tech. Is this like a version of that in china. Yeah i think it is a version of that because one of the questions is what are they doing with all this data that they amass and how are they using that the other thing is that one of the reasons that tech companies have been so successful in china is that they're sort of been disgraced on regulation and So the tech companies could kind of advance i and regulation catches up with that so some of this is an effort to kind of bridge. That gap in you know it so that the regulators are behind. Is there like a broader strategy with this rectification campaign these these changes to education and chinese culture and the economy at all. This is happening under this big banner of common prosperity. It's the new buzz phrase in beijing. Many of the policy changes rolled out by the communist. Party of late could be lumped in under the common prosperity theme. It was the slogan that she has used to express his commitment to dealing with an income inequality and the lack of social mobility in china. So in the one hand. You could see this as a kind of populist move by shea to rally support for him being power for their term and staying in power indefinitely and how of the chinese people feel about this all of these measures. They are away for the party. State to assert control over the economy the private sector in society. It's also important to remember that this issue of income inequality and social mobility is is a real problem in china and because of that. People have responded actually pretty positively to a lot of these measures because they see it as contributing to income redistribution. Or you know making things more equal. It sounds like this might be about like the rural urban divide in china. Yeah this rural urban divide. there's also the social naboodah question i mean. It has a manifests in knots away. So you have couples. That don't wanna have kids even though the government keeps trying to encourage families have mckay's and they keep changing they've recently Change the family planning policies that you have three kids instead of two but people don't want kids because it's too expensive in cities or you have young people who are burning out. And they're sort of checking out of the rat race and talking about this other slogan that's called lying flat so you know obviously the the government doesn't want that they don't want people to check out from society and not be productive members of the economy one of the criticisms that has been made about these huge number of measures and crackdowns is that they're actually surface level solutions at a very real problem so income inequality is a real problem but is banning for profit education really going to fix in applauding the education system. So i think overall what we're seeing is the result of the consolidation of. She's power over his first two terms so he launched this massive anti-corruption campaign the helped him. You know eviscerate any real opposition. He sat down any remaining space for public dissent or rejection of human rights and he also put himself at the core of.
"xi jinping" Discussed on Marketplace Morning Report with David Brancaccio
"One point three two nine percent tomorrow.
"xi jinping" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"I'm sure where london goes. It will be exactly the same in new york city from what everyone tells me. So they're surely though are pieces of this. That are gonna stay with us forever right. I mean are people going to be masking forever. Are we going to be getting boosters forever. That's not your concern. Your concern is trying to think of a corner shop in london. Greg's will no longer be open for sausage rolls all day. It's not just that it's just the cattle we're gonna end up with a halfway house. Went by it's not going to satisfy an enclosed the economic recovery. We've could and should be having and that ends as get the engineer economy guy which means people moving around doing things you show at the storming. You can do three day week or you can. What sometime sometimes. That doesn't mean we. We lose all the benefits of of what we see in the last year or two but we really ought to get the economy functioning as best we can and that means you know transportation. It means all but if we're working for only working three days a week in the office. And i've noticed here marcus the same things that you noticed there. It's much worse than in berlin. I've say i walk around our headquarters here at seven thirty one lexington avenue which used to be surrounded by businesses that were always full of you know workers that were here for the day so many of these businesses have closed down not just closed for now but empty and store for rent signs on the windows that that doesn't seem like it's gonna come back very quickly if you're a real estate landlord this permanent permanent scarring in the end of this five or six years about so i think what people on the standing they don't thinking through this fully is the people have circle quality life the there is a happy medium one all the happy medium we need to get stop hunkering down and get some semblance of normality back call me again and we will benefit front but we don't we will miss out think particularly in the city's just but particularly the city's so markets there's getting people using transportation going out doing things there's also getting people to deploy their savings and as you point out in your piece the savings ratio is nearly three times the.
"xi jinping" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"That's the one segment of of the market Where the whole sort of cost inflation higher raw material costs is is more problematic and interesting enough you look to q. Results that's the one place that actually are showing negative earnings growth. I mean they're down one percent as opposed to the overall market up. Whatever hundred sixty. Eight hundred seventy percents So they stand out in valuations. Aren't cheap either. Can we talk about buybacks dividends. Are we going to keep seeing those increased. Yeah quick answer is we think so And yes you'll see what the results were seeing show Better free cash flow. Better cash generation Importantly then you gotta think about. Where's that being utilized. And emanate is gonna happen Done some interesting work on that Cataracts is gonna happen. We need that to have a sustained economic recovery In addition to some of these policy measures like the european recovery fund or the us infrastructure. Plan excetera But importantly shareholder renumeration is coming back to dividends by baxter on are rising a big thing in europe has been the restriction on Financials specifically banks dividends and buybacks in. That's being lifted by the b You know nice announcement by. Hsbc just today with their results actually bringing forward Their announcement relative to what we not thought was going to happen until next year. So i think it's good news the other one. I would mention to you that. I think it's interesting are the commodities The miners and the oils which are so big for example for the footsie-100 right They're still being restrained on their cataracts there bumping dividends and buyback which is great and if they can restrain the cap x. then you've got an opportunity for a more sustained Sort of price environment for as opposed to thinking. That's going to be embossed dr tim. Thanks very much for joining us. Really appreciate tim. Craig had their senior european strategy director of research content for bloomberg intelligence talking to us about the earnings landscape in europe. This is bloomberg that would have been the big take. But we are talking now to.
"xi jinping" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"Bloomberg. let's talk a little bit. What's going on in european markets. We're looking at what we saw bigger gains. I guess in european markets Across the board than we then we have in. Us markets today. But the question is are there bigger gains to calm especially if you believe the reopening trade has yet to really hit. Tim craig had joins us. He is senior strategist senior. European strategy is also the director of research content for bloomberg intelligence so tim. What's your read through. What especially when you look at earnings in europe versus earnings in the us. So that we're we're pretty constructive if you look towards you look out towards the end of the year the next several months Set august decide We think that you've got global. Economic recovery The transitions to expansion. We are in the transitionary inflation campus. A boost of the persistent inflation cats we think companies can manage through it and that sets up a pretty good backdrop especially for companies that are cyclically oriented You know to q. Results themselves fed into a lot of good evidence supporting this sort of construct in our mind. Well an earnings growth has been really solid to tim on the stock six hundred. I'm looking at average earnings growth of the companies reported. Thus far one hundred seventy six percent. I mean that is wild and you're seeing revisions upward revisions accelerating as well. How big of a drop off. Are we going to see in the third and fourth quarter though yeah It's it's good. It's a good point We're about at al-nar count we're about three quarters done If you look at market cap Having reported You know our number and we're calculating slightly differently one hundred and sixty percent but the important point is that when we started the earnings reporting period that number one hundred and thirty so it's accelerated through the results period and interesting another step for you We're looking at roughly sixty five percent. Having beat estimates twenty five percent having missed at european earnings are are typically a lot more blah than in. us Were you know. Us companies no to to to keep s expectations low and beat That doesn't happen so much over here. So these are these are extraordinary There is no doubt you have to see a slowdown in as you get into three q. And four q but it's not so much the slowdown because the market already knows that In in our mind it's that revisions continue to take up and it's not only revisions to overall two thousand twenty one and twenty two earnings. They are up And that's true. Cost most of the european major market but actually even margin. Expectations are rising Which is particularly surprising. Giving some of the concerns that others have been voicing about inflation. And you know it's gonna hit margins true except for consumer staples. That's a problem. What what's the problem with consumer staples. Yeah aside from. Yeah well. I mean from our perspective. They just don't have the economic leverage to be able to manage through rising costs I mean to us..
"xi jinping" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"And there are a few overlooked technology companies like cisco or pfizer that we think of good long-term prospects But really haven't had this type of rally that technology overall has how do you think about pricing power when factoring. What stocks do you want to own what you're gonna put in a portfolio especially considering the pretty serious input cost elevation. We are seeing A number of companies talking about in their earnings calls. Well it looks like most companies feel that they raise prices. They're just as a one or two quarter legs so if you look at the consumer staples for example. Many of them have lowered expectations for the year because prices rose quicker than they were able to raise their own prices We think ultimately there's going to be a catch up there so you just want to be aware of it but again even in terms of some of the consumer staples we think you can put money in Simply because the stocks haven't done a lot and they're cheaper than they've been in a very long time so a company like coca cola or kimberly clark or kellogg we think are very fairly priced with good prospects over the next eighteen months and again when the economy ultimately slows down those stocks could become attractive to investors again. What about viacom. You've got that on your list. And i'm just wondering if the reopening has anything in store for viacom because you know obviously we were all stuck inside watching their content but now we can actually get out well. We think that certain players will not do as well as people get up but in terms of viacom they have a robust movie business and that movie business is going to get a a lot better so we don't think they're hurt by the reopening play. We think on the margin. It's probably a little bit better and it's a very interesting company here. Stocks in about ten times earnings. We think they definitely are going to be a winner in the streaming space. You get cbs. Which is a great business and paramount. which is a great business. You're not paying a whole lot for so we think ultimately somebody could buy them or the stock is worth sixty to seventy so we think they low risk investment. We had owned by come earlier this year. We had bought it A year or two ago we sold it anywhere from sixty to a hundred When the stock came down in the end of march we reborn our entire position and continued to add to it here. David thanks very much david katz. They're talking to us from matrix asset advisors where he is chief investment officer david cats and the cats family also own those stocks that we were talking about just in the interest of full disclosure. This is.
"xi jinping" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"In terms of all ownership of key technologies and in terms of who's financing development. So i mean the the for me. The most interesting thing is that One man or at least the head of the party can do this right. He doesn't have to deal with all the special interests and lobbyists that will keep. We'll hold america back possibly in trying to improve what we've got going on here. Same i'm sure to in the uk et cetera across western democracies. How powerful is xi jinping. Do i just see it that way. Or is he really the man. Well i mean she who must be. Obeyed was the kind of joke When xi jinping came into power and still have started wielding the big stick authoritarian governments to get things done. I mean certainly. She isn't incredibly powerful leader. Probably the most powerful leader china's had since champion meyer But that comparison with champion meyer. Of course also highlight some of the risks with an authoritarian governance system. Yes we might look enviously at a chinese system that can get things done really quickly push cost vested interests that. Try and block reforms. But let's not forget. The authoritarian governments can get things right really quickly. They can also get things wrong really quickly as well just quickly because we did get a. Pm is from china over the weekend. What do you make of the deceleration in growth. There hasn't been over exaggerated so there's a couple of things going on kaley Say the first one is kind of a normalization of china's growth was first into the cova shock. Also i i of the couva chalk. They had their period of rapid acceleration at the end of twenty twenty and the beginning of twenty twenty. One nygard is steadying back towards a more normal level. The more troubling thing is that we've also now the virus coming back in different parts of china some cases in nanjing some cases in wuhan which you remember was the epicenter of virus lost year. That return of the virus is prompting more controls than what people can do facial distancing and is also weighing on growth heading into the second half all right tom. Thanks very much. Tom orlic joining us there with his story. Xi jinping capitalists smackdown sparks a trillion dollar reckoning. That is our big take for the day. You can check that on the bloomberg terminal. If you like just type n i big take go now. Bring david katz right now. He joins.
"xi jinping" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"All right. We are going to talk about shizhong. Ping's capitalist smackdown sparks a one trillion dollar reckoning. That's the title of the big. Take today and tom or look. One of the authors joins us to discuss it. It's been such an interesting process to watch tom. So many people have different ideas of what's going on from the ant. Ipo to what happened with deedee. And now with the ed tech move. The question is is it about you. Know she's paying grip on power or is this really about data security or could it be about supporting the middle class. What what do you see. I think it's all of the above my Xi jinping in twenty twenty two will be looking for the nod to take third term as president that As chair of the communist party so building public support ahead of the is crucial at the same time. I think this is a chinese government which is willing to wheels the kind of the biggest stick of authoritarian power in order to try and deliver on some social priorities said i includes national security making sure. The sensitive data isn't leaking over over shore. It also means taking a big swing the monopoly. Power of companies like alibaba. Ten sen making sure that workers making sure that smaller startups get shake so. There's kind of the crackdown within the market. And targeting private sector companies. How does that translate into the chinese economy. So i think what we're seeing is a chinese government which is willing to take a short term blow to the markets maybe even short term blow to growth in order to deliver a more vasie as more important longtime development priorities. They'll take a swing at some of the biggest tech entrepreneurs in the country. Jack ma of alibaba. I among them because they think that having having big middle please strangling competition in the economy is not going to be good for china's longer term growth. Not gonna be good for china's squeeze the middle class. How do we know when this is over. I mean or what's the next shoe to drop. That's a really good question So we've already had china's regulators come swinging against the big tech companies alibaba matron chwine the giant delivery company. Dd china's onset yuba. We've seen them coming coming swinging against property. One of the big frustrations for china's middle cloth is that property prices too expensive. They can't get first hand on the bottom rung of the property ladder. And they've come out swinging against ed attack the concern. There is that children spending too much time and parents spending too much money on the educational rat race. Where do they go next. Well one possibility could be the private medical industry china's high souls. They want to educate their children. They want to buy a heist. They want to be healthy. And so i think it's quite likely that china's policymakers china's regulators will take a close look at private healthcare providers. Next try and make sure they know gauging chinese households trying to make sure that delivering quality cap. How does the us shouldn't all of this. Tom so historically for the last forty years. We had a trajectory wet. China was moving towards being more market based economy and a more open economy and not many close ties with the us. What's happened in the lost four or five years especially since the trump administration had that done in the white house is that china has realized. You know what. We're facing a more hostile global environment with facing a us which is going to impose. Trade tariffs imposed sanctions trying to ally with other countries to sort of put limits on our tack development. And what that's done is it's put china into kind of defense mode and so we are seeing china saying you know what maybe we don't want our tech companies to ipo in the united states. Maybe we need to do more to boost self sufficiency at home..
"xi jinping" Discussed on The World: Latest Edition
"Lost. Here's the series began in april. Two thousand twenty good evening. I m Salomon i am the peter. J shop chief curator at the frick collection. And welcome to the first episode of cocktails with a curator. I would like to look at some of the great masterpieces of the frac- thinking about some of the issues with thinking about these days issues to do with life love searching for meaning in life to death if that sounds less than cheerful there was a softening of the blow each friday this will be accompanied by a cocktail and we will send you the recipe in advance so that you can make your own cocktail and hopefully drink that same cocktail wild. Okay my idea of a perfect friday early evening looking at art well drinking an idea that resonated with more than a million and a half viewers during the sixty six weeks of the series all recorded live without notes by the fricks. Three curator's at the same time that was a mighty lively and sometimes snarky sometimes flirtatious chatroom. My name is ian alterman. I live on the upper west side of manhattan. That was a regular visitor. I made sure to be home. And and have my my mock tail. Alterman became the chance unofficial commentator and greeter at first. i started to Whenever somebody would log in from another country. I would welcome them and say you know lisbon in the house or singapore in the house or whatever until it got too much as australia and indonesia and argentina and on and on joined in friendships formed in that chat space well art and european history were learned. Drinks were drunk. And you never knew you might learn during cocktails. The curator household intrigues portraits and toxic substances. They used as makeup and techniques. Specifics as in is painting of a bullfight in an episode hosted by curator amy. Your colors laid side by side as registry out of a two blacks and whites straight out. The tube yellow details fudged over with broad brush strokes paint. Yes sometimes curator's got excited. Sometimes they drink that during the presentation and always they told the audience stuff we likely wouldn't have known otherwise. Which was the point using art as a way to connect in time where connections were hard to come by curator aiming the genesis of the program was well. We need to do something..
"xi jinping" Discussed on The World: Latest Edition
"Up with an idea. I brought the boys straight from camp to our place. I'm vaccinated and had kobe just a month ago but still we traveled double mast windows down during the drive. Meanwhile by partner and stop the house with food while the boys quarantined we couch cirque next door. Check regularly everything okay. I asked them from outside the front door. The kitchens a little dirty. Our son says but we mopped anyone feeling sick. I ask out of you look. Pale just woke up and says at one pm in general. The boy seemed pretty psyched. And it's no wonder the fridge is full. There's a little cool in the yard inside the playstation net flicks and no parents fifteen-year-olds dream mos- whether chico solos mukasa because we've got the house all to ourselves auto says and we haven't had to worry about getting anyone else sick this we've gone swimming and played a little soccer at gabby sir. This is much better than being alone. Which is really boring. They are on their own but not really as the days pass. Parents take turns delivering home. Cooked meals pow even gets a cake his fifteenth birthday. It's an unexpected moment of happiness.
"xi jinping" Discussed on The World: Latest Edition
"What we see is a slow motion carefully. Managed attitudes in which is basically corroding buddhism. It's removing the core. Doctrines of buddhism is quite specific. They're quite open up doing this and replacing them with what they call socialist values but they don't destroy the religion and they don't put thousands of people in custody in tibet robert an expert on to bed and a research associate at the school of oriental studies in london. Where he's been speaking with us from robert. Thank you very much. Thank you so much and thank you for covering the story. coming up. As haiti comes to terms with the assassination of president what role should the diaspora play. It's the world i'm marco werman. You're with the world. Kovic is everywhere on planet earth. Nowhere seems safe but some places appeared to have remained largely unscathed. Consider niger the vast landlocked country in west africa. Twenty twenty five million people there with more than a third of the population living in extreme poverty. But as the world's alana gordon reports nizhny has had few covert infections when jerry experienced its first cova cases back in march of two thousand twenty. The country quickly locked down shot borders and even closed worship centers in this majority muslim country. The government set up as leash intense and handwashing stations. Dr brass souleymane has been on the front lines of these efforts. He's at the general referral hospital in shares capital. Niamey your shadows. You would do i was mostly in charge of sorting and admitting patients. He tells me so. We might says they've not been busy. The country has only recorded fifty five hundred infections and less than two hundred deaths since the pandemic started when connect with souleymane. I can hear a fan. Squeaking in the background share is mostly And it's hot up gentlema- on nepal danced. Show others today when asia. They're only recording fewer than twenty active cases per day. He says and none of the infected or seriously hospitalized. Simon says a lot of factors into remarkably low levels of code orange Different in frustrated by wanting quantity mushroom. Our way of life is different and doesn't facilitate contamination. He says jersey is the largest country in west africa geographically but it doesn't have the kind of housing infrastructure or public transportation system that leads to a lot of mixing of people. He says people live in large lots that are spread out. They often sleep outside. It's very agricultural. The population is also really young. At least half or under the age of fifteen so even if many cases get missed they very likely haven't been serious about that ma that we don't have news actor. Blanche anya is the world health organization representative inisia- she says it's that hospitalizations are so low and the government has been very proactive in its response. But it's hard to know the full scope. Widespread testing isn't happening. The positive situation might also have to do with the virus itself. What might be sitting here might be a career. That is not very aggressive. The virus may not seem to be as aggressive but if a strong pandemic response is needed. That could be challenging. Violent insurgencies widespread poverty and displacement are realities in share on yet says it's hard to keep people thinking about covert many have dropped precautions. Now you don't have many people wearing masks for example and where the food. This was out of hand washing the yet. We don't see them anymore. Researchers me to better understand the scientific and social that make the situation seemed good inisia- right now. There's a lot to investigate. Dr john nakanga song director of the africa centers for disease control and prevention has a warning. This is a very treacherous values amoeba for three decades and viruses can to give you that four sense of complacency series into publishing unexploded he has watched. the explosion happened across the continent in liberia. Uganda namibia elsewhere. Africa is experiencing its most serious surge in cove in nineteen to date at this point. He says it's very dangerous to conclude that nigeria has a very unusual situation. Dr breath souleymane at the general referral hospital in shares. Capital is under no illusions. Either last week. The country's health minister called for greater public vigilance. Souleymane says despite all the things in his country's favor he doesn't think they're in the clear or somehow immune to coverted magoo von visuals action valiant wallace A to In the face of this current. Resurgence of new variant. He says we still remain careful. And we still remain on alert for the world. I'm alana gordon today. The funeral of haitian president juvenal moyes was held in copays in northern haiti melissa's assassination on july seven continues to impact life in haiti not to mention the haitian diaspora here in the united states. Many people in the us are wondering what role they play in. Shaping the future of their country gary pr pr is a founder and publisher of the haitian times a newspaper based in brooklyn for the haitian diaspora at gary. I wanna talk to you. About an essay you wrote recently about the relationship between the the diaspora and haiti at this critical moment members of the diaspora. Wanna play a role in shaping. The future of haiti but that is not so simple. What is attention you see there. It's that simple because we know we add another country. We don't live physically in the country and so decisions are not really Based on reality on the ground. That's the challenge haiti because it's middle-class essentially a defacto middle class for also to marco. Is that the data for has some work to be done. it's institutions are not as strong as they ought to be on the need to be rather to engage. It would haiti and so right now. The role department of role is that of a atm machine. Just basically send money back home and help families and relatives he got living and so the challenge is to find out. How can we engage meaningfully because eighty needs. It's middle class to succeed. The fact you mentioned the second go the fact that the diasporas largely middle class able to send some three plus billion dollars back to the island and remittances a year. I mean that middle class also create some tension with people on the island who are not middle-class. Actually no because everyone has a dass. Bo's helping them. The is from the political class. Who sees that as a threat. They don't want them anymore. Engage because then that creates competition quiz threat that they're not comfortable giving away to what they call outsiders. There is that diaspora that is largely middle classes. You say i mean much has been said over the decades about The power of the small circle of haitian elites and the much more populous. Poor on the island. Can you describe what that looks like. Today what impact. It's having on the upheaval intention. We're seeing a around the country especially import prints. You have about ten to twenty families maybe twenty five but slot that controls ninety five percent of the country and we industry is unlivable. Then it starts with little wealth distribution whatsoever how embedded in haiti is that economic stratification. Like what would it take for that to even out. All you gotta do is if you have good government a fair live very to democratize the economy dismantle those monopolies that are in place right now and let it be a true free market place. And so those are the issues that i think the clear-headed members of the dassler saying these are the conditions that we need to compete because we want to invest. Now just coming and blow money away. What do you think the. Us role should be now in helping eighty. The us has a long and complicated history with one hand. If done their best and the other hand. If they're worse other undermined the democratic process and has really turned off the people in haiti from democracy..
"xi jinping" Discussed on The World: Latest Edition
"It's really easy to get this impression. That japan messed up. Even though it's more complicating. That and i i would never want people to see japan that way. Coaching ikano from sofia university is also concerned about visitors. Coming away with the wrong impression of japan is not that much sense of husky de so. I do hope that they don't have to go back home with a sense that this was rather disappointing. This is not what we expected and the japanese government pulled us essentially ally that That we're going to be welcome. While the majority of the japanese public think games should be called off. Some volunteers are doing what they can to welcome overseas visitors. There bringing origami and pieces of japanese culture to members of the media who have to stay in the copen safe bubble and out of tokyo streets. Still mcconnell says the initial messaging behind tokyo twenty twenty is not holding up these by gopher all the promises made about the recovery olympic centered about the spirit of Techy we are so far from both ideas but the games in tokyo are just getting started over the next two weeks. The athletes will be focused on the events. They've been training for looking to make some of their own olympic history for the world. I'm bianca hillier. China's president xi jinping made a surprising visit this week. He traveled to the tibet. Autonomous region of china visit comes as chinese authorities are looking to further control tibet's traditional buddhist culture and generally the region. Robert barnett is an expert on to bed. He's a research associate at the school of oriental studies in london. Tibet is always in the news on the back burner robbie but this seems important to help us understand why there's visit tobacco significant for china's president. That hasn't been a visit by a chinese president since one thousand nine hundred thirty one years since we've seen a visit at this level to debate and it comes at a very important time for two reasons one as tensions between china and india which are all along. The tibet order are rising rapidly. India's mobilized fifty thousand soldiers to the board of china's probably done the same so this is a big signal that could raise tensions along that border and the second reason is that china's program too. Shall we say controlled. Culture into bed and religion is really gaining momentum. Now from what we can tell from the small signs of news that come out so she jinping being there is a sign that this cultural shall we say. Cultural management program is really gathering momentum so the signal She ascending to this border tension between china and india. What message is he sending. Well he didn't go just to the tibetan capital. Lhasa hit the a place he went to was a place coordinating tree which is about three hundred miles east of lahser much lower altitude and nutri is the main chinese base for imigrants. That's why the chinese liked to live. If they've got the choice could it's lower altitude. But it's also the main military base for the troops. The chinese troops and is very close to the disputed indian border so we have a very interesting phenomenon. A huge amount of videos being poured out of china show this visit by xi jinping. They all show him meeting monks and ordinary people in the streets very relaxed. But they don't show anything to do with the military or security or place but probably that may have been the real reason why he was. There was to to show support for the troops who are lining up against the indian soldiers on the gorda just a few miles from where he was the day before yesterday. So meantime in the background. How we're local tibetans and their government in exile responding to visit. Well i it's fascinating because the videos that china has put out a show very cla- cafe cheering crowds greeting the president. Our chairman as he walked through the streets of laws and is quite remarkable because these videos are clearly about showing no security. You don't see uniform place alone soldiers although they must all be there in huge numbers out of sight. And if you look carefully you can see these crowds very carefully arranged and they're probably selected people in the streets that cut off so it will somewhat stench manage. But we don't know what anybody really thinks inside tibet. It's almost impossible. Virtually no news comes out can really be confirmed but we do know what exiles thinking They've put out a statement. You know there's been a hundred and fifty six thousand dollars around the world off of them. In india and their exile government administration has taken kind of low key. Approach this visit and said that xi jinping could use this visit to understand better and begin negotiations with the exile allama so the exile government mcvay moderate in its approach. Still trying to push the chinese to to take a step towards talks that might resolve this. What is it seventy a conflict. Well robbie tibet's a witnessed massive economic development and an unparalleled infrastructure. Build up in recent years at. How is that effort been received into bed. Well people are very. i think. Probably thrilled about the improved infrastructure of the modernization into bed especially if they compared to surrounding countries like india qadesh nepal and so on where the standard of living is is much lower in terms of these practical issues. But people in tibet. They are very aware think although we can't read their minds and they can't really tell us but when we do the we hear a lot anguish a lot of paying about what china is doing to culture and tibetan religion languages becoming less and less significant in teaching in schools. They're pushing chinese language classes in kindergarten and in every village now they have permanent teams of officials. Every monastery in every village to bet that doesn't exist anywhere else in china so this control society events society in which now featuring pink is pushing citation chinese dominance assimilation of the culture and their religion. It won't wipe out to culture but it will definitely make a secondary. I mean no doubt. There is deep suspicion between to bed and beijing. I'm wondering though. Tibetans look over in xinjiang in northwest china and see an even more bleak future when the put them further under the thumb of beijing. What would you say about that. And the parallels between tibet and xinjiang. I think that the parallels between pension john have been hugely overplayed by foreign media and people misled about this because it but understandably because the party the communist use the same language same terms for what they're doing thought transformation. They caught it. And so on modernisation night alcohol rural revitalization and so on so they have these key terms and they use some of the same techniques but engine jong used with maximum force in tibet. They are we re ah council force being used but it's really very rare compared to xinjiang so the implementation of these policies is completely different in nature and this is probably because the chinese like so many countries and so many people are basically islamophobic. They've used the american idea of anti-terrorism from twenty years ago to justify a crackdown on essentially on islam islamic peoples of an unprecedented ferocity three in tibet. We don't see that..