part of the chinese corp. world as well direct agencies of the chinese government to engage in a to duct a campaign over covertly and overtly, subject subverting bribing, existing espionage and the rest we knew about for purposes of destroying competitors, gaining control of the financial system, influencing the policy of key corporation. do you just think -- is it your agreement with him you think this is not happening on this or is isn't happening like this on the scale or you don't think it matter. you're -- the testimony and testimony sail by each other. i'm trying to recognincile it. >> so let me start with saying i do fundamentally disagree with mr. johnson view china state has masser plan to send it's companies oversees and acquire specific assets. there are instances in which there's concrete evidence i can see for a nexus and i think we mentioned dedicate -- we did a case study on semiconductor where i think there's clear evidence we can bpin down to mae those connection, i'm not aware of the case mr.

the chinese -- so this is the chinese view. this is a chinese propaganda poster from the 1960's. the bottom says [speaking chinese], which means firmly support the asian african, latin american people anti-imperialist rivals. this is a picture of asia and america uniting with guns in their hands fighting imperials. this is the chinese version of anti-colonialism. the chinese said that the soviets basically were using peaceful coexistence. this promotion of peace, coexistence with the west, as a main -- way of maintaining white power in the world. the soviets are fundamentally a white imperialist country. they are an industrialized country. they will always prioritize the interests of europeans and americans over the developing world. so there really betraying the postcolonial world. the only way the postcolonial world will ever be free is by fighting for their freedom. this is the chinese story. algeria is a perfect example. i will talk more about this later, but algeria is kind of the best case of fighting for your freedom an actual war , against the colonial power that is succe

to say it's chinese companies. i like your view on that. otherwise, i'm going to wait as far as mr. johnson and mr. hanman to hear what some other people say in maybe a second round. but i like your answer to that. and one of the reasons is, we make recommendations to the congress in our report, and this would seem to me to be a subject we ought to explore and possibly make a recommendation on. >> well, thank you, senator. let me clarify something, because the sovereign immunity, since it's something that belongs uniquely to sovereign is unusual in terms of subject matter jurisdiction in that it can be waived by the party. and that's recognized. so there is no reason why, if i were doing business with a chinese company, and didn't know its ownership situation, i would try to protect myself and get a waiver contractually. that would be effective to create subject matter jurisdiction. in other context, of course, parties can't create such better jurisdiction. it either exists or it doesn't. but this is a unique aspec

-listed chinese companies. china, however, quickly blocked the sec from doing inspectiones this china. arguing that to allow such inspections might result in the disclosure of state secrets and it also would impinge upon china's national sovereignty. china instead insisted that sec or pcob offer regulatory equivalency, that is to accept the work of the chinese regulators as if it were its own. the european union has accepted regulatory equivalency with respect to audits of chinese companies, but the cob has been unwilling to reach that. my recommendations are, that the law, that being czar are baines oxley aught to be amended. to go one of two ways. either to allow for regulatory equivalency and get the chinese to agree on an allowance of expecting inspectors to make sure the chinese actually do what they are required to do. i'm kept cal that chinese have much interest in inspecting overseas listed companies. or alternatively they could terminate the registration of accounting firms that they are unable to insp

there are a million chinese farmers. this happened after smith field changed hands at the same time we had an outbreak of hog virus. it can also disadvantage farm supports. now 97% are from smithfield. that disadvantages all of the other people exporting. china is in a position but they also have an incentive to favor the crops. food security is a really key component of national security. it is really important. in the 2008 food crisis more than 30 countries face civil instability right now china owns 8 million more, so the next time there's a supply interruption it is likely to be exacerbated. i think lots of people believe that an army marchs on its stomach. there is widespread understanding this is an issue. whether or not food is a critical infrastructure is at odds. it's not a situation where we are talking about something like retirement homes. food is something that is for military and civilians as well. they are allowed to review -- they have a broad discretion but today they have not done it. both the mergers w

the chinese exclusion act was enforced. the chinese population shrunk down to maybe 80,000. world war ii, the u.s. was an ally of china. it didn't seem right that an ally would prohibit the citizens of an ally to become -- to immigrate or to become citizens. there was a repeal of the exclusion act in 1943. >> very interesting. like the japanese american experience where japanese americans by participating sort of proved their loyalty to a lot of people during that time. interesting parallel. what about the civil rights movement? 1965, i believe, the immigration act and things like that. that's also a big part of the exhibit, right? >> well, as a result of the -- along with the civil rights act, lbj, president johnson, signed an immigration and naturalization act. and that act listed the quotas for immigrants from countries all over the world. and so that law allowed chinese families to reunite. and opened the gate, if you will, for immigration of asians from asia. >> steve, do you feel as though there's a real need to put this out there on a more broader basis, for more peop

the chinese. america will not allow japan to play a role in taiwan's defense. >> doctor revealed this of kissenger. that's when it was first made public. >> several comments. the first, science and technology, i recommended creates some form of technology containment against china. that's our concern. usa is so kind to provide the vital technology and science information to china. so that's really against our policy and if u.s. is serious about thinking china as a future potential threat i think it's time for two nations, japan, u.s., to discuss and create? form of technology containment against china. without that we would lose the race. that's one thing. and the seconds, of course keeping the u.s. forces in our area. costs associated and heavy sweat and labor associated. but for china of course still largest obstacle and threat has been the u.s. navy and the air force and the marines. and will be so in the future. so if this is the reality, by all cost japan and the u.s. has to develop. and one

the chinese market is not a real stock market. it's not connected to fundamentals, either profits or the economy. because no one knows what the proper level is, it's a casino. in the ugliest sense of the word. >> chinese stocks in a bear market for the second time in seven months. down 20% from the december high. >> my take on china is china has a serious challenge and set of challenges to convert from exports and construction stimulated by easy money to domestic consumption of goods and services. so, yes, it is a serious lem, but is it something easily surmounted or is it a disaster? people have gone from the first to the second. ♪ angie: january's worst-case scenarios did not come to pass. but throughout the year, the financial world kept a close eye on economic data coming out of china. let's take a look back at some of the most significant numbers. ♪ >> a day of dramatic headlines with china dominating the news. the pboc governor broke his long silence. what did he say and what was significant about it? >> his key message

[laughter] [applause] so the chinese celebrate the chinese new year. around this time people visit their relatives and friends. into say greetings to the overall world. >> it was the best of times it was the of worst of times these are the words used by a dickens and on the of one hand of science and technology followed as never before on the other hand however those challenges like terrorism and refugee and unemployment have added to the uncertainties of the of world. many people are wondering what has gone wrong with the of world? but some people blame economic globalization. and the chaos in the world. with uh globalization founded by a highly bob the and the arabian nights. but now to become the pandora's box the international community and to wish to address the economy and economic globalization. so the point i will at to make because the ways of north africa for several million people and small children have lost their lives while crossing the sea and is heartbreaking to was. that is the turbulence that has created this problem. to make peace an

as you know, two days time, the chinese celebrate the lunar chinese new year. around this time it is in china, people visit their relatives and friends. and the bond of friendship, this time my wife and i and other members of the delegation come to doorposts --davos to send new year's greetings to switzerland and the whole world. it was the best of times, it was the worst of times. these are the words used by charles dickens to describe the world after the industrial revolution. today, we also live in a world of contradictions. on the one hand, we are growing material wealth, advancements in science and technology, human civilization has developed as never before. on the other hand, frequent regional conflicts, global challenges like terrorism and refugees as well as poverty, unemployment and widening income gap have all added to the uncertainties of the world. many people are wondering what has gone wrong with our world? to answer this question, one must first track the source of the problem. some people blame economic globalization for the chaos in our world.

inclusion act and in further entitlements at chinese and korean students and whereas the asian-american figure out discriminates in the 1818 successfully challenged other chinese children and whereas shortly after following the case in the same year sunbathed schools were approved by the assembly bill for children with their migration of white children and led to the segregation the white school and legal challenges with the so 02 walling even callahan they petitioned for his 12-year-old daughter to attend the public school on al gore student instead of the segregated oriental school and whereas the city lay in ruins with the aftermath of the 1906 san francisco earthquake the policy passed restricting children of china's and japanese and corp. to the oriental school and when the same year the board of education decided to the oak family that protested the perusal to immoral the 12-year-old child the james government lodged a formal complaint with the u.s. ambassador that was a violation of the 1894 japanese treated of the non- school policy for japanese immigrants to the u.s. those acti

chinese. [ speaking chinese ] there are three businesses. restaurant business, lndry business, game willing business. those are the only thing businesses chinese can participate in after the exclusion law. >> what did your family do? >> the other thing was to be a merchant in chinatown. my grandfather became friends with walter huhs. my grandfather u.s. citizen, he could travel back and forth, he was the agent to the haas brothers. a family, represents a clan, because in the event the pro-pry terri -- he was a merchant. he was here in the 1860s. his son was born in 1878 before the exclusion law and other children born in san francisco. they were american citizens. because of this anti-chinese feeling and the law against chinese laborer and the fact in 1882, the law stipulated that hereafter no chinese is allowed naturalization to u.s. citizenship. this has been the biggest cloud in all of american -- chinese-american society. >> yu family prospered. >> it shows that my grandfather and his colleagues, were on equal footing with the white busi

the chinese super league is only 13 yea rs the chinese super league is only 13 years old, the standard of which is not that high, and it is spending way above what these players perhaps a word on the european market because they want to have these european players in their league two up european players in their league two up the standard. the game is worth a lot of money there. the tv rights are huge, $250 million for those. attendance is going up. this is a booming market for them, but the chinese football association says it has to stop. they have called it irrational spending. they are taking it from five foreign players allowed ina it from five foreign players allowed in a match day came down to three. interestingly, they are also saying in those teams, they must be to chinese players who are under 23, one of which must start that game. the game they have been picked for. not only are they trying to pull themselves away from this fascination, addiction, to foreign stars, they are trying to foster an interest in home—grown talent. it is interesting, because that is what leads acr

so it is eye—watering, and the chinese fa want it to stop. they call this spending irrational, and i think anybody of sane mind would probably say the same thing. the chinese super league is only 13 years old, the standard of which isn't that high, is spending way above what these players perhaps are worth on the european market, because they want to have these european players in their league, to up the standard. the game there is worth a lot of money. the tv rights are huge, $250 million for those. attendances are going up. this is a booming market for them, but the chinese football association have said it's got to stop. they have called it irrational spending. so they're taking it from five foreign players allowed in a match day team, down to three. and interestingly, they are also saying that in those teams, there must be two chinese players who are under 23, one of which must start that game, the game they've been picked for. so not only are they trying to pull themselves away from this fascination, addiction, if you like, to foreign st

investments in chinese agriculture. he received his bachelors degree and testified before us on food safety i recall. and finally, mr. patrick genovine, the ceo of tank energy group, active clean energy investor in china for over 20er years. mr. genovine formed tank in 1986 to own, operate are and deliver systems in china and since then, a leading u.s. entrepreneur abroad. in 2010, tank was awarded the corporate award for global excellence which recognizes the important role american businesses play abroad. he sis a member of the council n foreign relations and earned the b.a. from davidson college in davidson, north carolina. thank you all for being here today. each witness will have 7:00 to deliver his oral statement. your written statement will be entered into the record, and dr. atkinson, we will begin with you. >> well, thank you, chairman wetzel. it is a pleasure to be here and pleasure to be here again to testify before you on this important question. i don't think that there is any doubt that chinese fdi into ou

the chinese -- this is the chinese view. this is a chinese propaganda poster from the 1960's. firmly support the asian african, latin american people anti-imperialist rivals. this is a picture of them uniting to fight imperials. this is the chinese version of anti-colonialism. said the soviets were using peaceful coexistence. as a wayotion of peace of maintaining white power in the world. the soviets are fundamentally a white imperialist country. they are industrialized. they will always prioritize the interest of the europeans and the americans over the developing world. they are betraying the postcolonial world. the only way the post world will be free is by fighting for their freedom. this is the chinese story. algeria is a good example. algeria is kind of the best case of fighting for your freedom. an actual war against the colonial power that is successful. the soviets do not support the liberation front of algeria. they do not recognize the algerian government. the reason is is that they were afraid of supporting the government would support the communist party in paris.

companies, chinese capital. there's a lot of educational effort at the home happening. to risk assessment, i believe that there are a lot of things that are different for chinese companies and i think probably the most important thing is understanding some of the political risks on the chinese side. that's very different from an open-market economy in europe or asia, the rest of asia and that partially goes back to question of to what extent the government controls flows and the chinese government has -- over the last couple of months retightened some of its investment policy so they're not -- we are not the only ones who are nervous about that increase of chinese. beijing is very much anxious that some have gotten too large and cracking down on some of the more financial nature flows that we are seeing in the channel. the ability of actually sticking to investment commitments, the chinese company announces transaction and we have a bunch of cases currently, one big battery factory in nevada, for example, where

one, to see exactly what the chinese are doing, and two, to test to see if the chinese would try to stop us because the whole of this area is, according to most countries, international airspace. just 140 nautical miles from the philippine coast, we spot new land. this place is called mischief reef. until a year ago, there was nothing here, just a submerged atoll. now look at it. millions of tons of material have been dredged up to build this huge new island. then as we close to 12 nautical miles, this. down below, we can see a pair of chinese navy ships. our pilots are nervous. they want to turn away. we're a civilian aircraft flying over international waters and yet we're being repeatedly threatened. so what we're getting is the chinese sending out that message, foreign military aircraft, unidentified military aircraft, leave the area immediately. in chinese and english, our captain replied saying we are a civilian aircraft, not a military aircraft, but it didn't make any difference, they repeated the threat to leave the area over and over again. as we fly on, the full extent of the co

chinese companies have made over 50 billion u.s. dollars in investment and launched ad number of major project, spurring the economic develop of the countries and creating many local jobs. the initiative originated in china. in may this year, china will host in beijing the belt and road forum for international corporation. which aims to discuss ways to boost corporation, build a corporation platforms and share corporation outcomes. the forum will expose ways to address problems facing global region economy, create fresh energy for pursuing develop and make belt road better involved. ladies and gentlemen, world history shows that a road of human civiluation has efr been a both one that mankind has made project by surmounting difficulties. no difficult however daunting will stop mankind from advancing. when enkouner difficulties we should not blame others or run away from spolresponsibilities instead join hands and rise to the challenge. history is kralted by the brave. let us boost confidence, take action and work together for a brig

[applause] [speaking chinese] >> translator: as you know, the chinese will celebrate the lunar chinese new year. around this time, in china, people visit their relatives and friends. and this way they will strengthen their bond and friendship. so this time, my wife and i and the delegation, two calm tuesday new year greetings to send their land and the whole world. [applause] it was the best of times. it was the worst of times. these are the words used by charles dickens to describe the world after the industrial revolution. today we also live in a world of contradiction. i'm the one hand, with growing material well in advance is in science and technology, human civilization has developed as never before. on the other hand, however, frequent region of conflict with challenges like terrorism and refugee, as well as poverty and employment in the widening and i'm been have all added to the uncertainties of the world. many people are wondering what has gone wrong with our world. to answer this question, one must first track the source of the problem. some people blame economic globalizatio

it been the subject of a lucrative offer from a chinese club. it seems as though, after a period of relative calm in diego costa's combustible career, that the start of this week he started to have disagreements with a particular member of the chelsea coaching staff, and that has escalated to a point where his manager has decided to leave him basically out of the squad, didn't travel to leicester, he's not going to play at leicester. the key point is, what is behind the issues? and some people are suggesting that big offers, big, big offers that cost —— costa seems to be at the centre of, which are coming from china, where other players have gone, they might be at

so, it appears the chinese data is reliable. so, prepare to the rest of the world that compared to the rest of the world, pretty good gdp group -- growth. tradei imagine with between -- with a potential trade war between u.s. and china, what is your position on the? -- that? mr. gulliver: i do not think there will be one. there the too much loss on either side. my operating assumption is that there will be some tweaks around country of origin rules and dumping. there will be some redefinition of rules of trade. however, i do not think that will be an all out trade war between the two countries. what president trump is looking to do is trying to get jobs home in the united states. so, definitely there will be an engagement, but to be see a trade war bricking up -- breaking out? not so much. john: do think the chinese leaders will tolerate that? mr. gulliver: my sense is that the chinese leadership will engage. absolutely. john: the our two countries that the incoming president has targeted -- china and mexico. campaign, hasbc he

especially in a place where there was snow know chinese -- no chinese, we all grew up working in the grocery store, and when she went to college her friends convinced her to enter the miss new hampshire, and she managed to pull through. >> i was in the miss new hampshire contest it was a like a run. and i did the same modern dance. >> that was your talent portion? >> that was my talent. >> she didn't speak or know what her name meant until she said it on stage and people laughed. >> said and everyone roared. as the youngest of three girls that her name turn the next child into a boy and over the years she faced discrimination. >> there is not one soul who dozen have a hard time. -- doesn't have a hard time. you to look at that as you know what, i will get through it and be better for it. >> she will be riding in the parade a celebration that is important to show the rich history and celebrate joy of being chinese american. >> from the mountains and prairies and the ocean white with foam, god bless american, my home sweet home. >> in afternoon ktvu fox2 news. >>> and the parade is set

i talking about the chinese zodiac. if you thought 2016 was bad, according to astrologers to thousand 710 will be of revolution, destruction and change. but white? every year, the two elements. the brewster is a metal element, fire is metal so... clashing. what is positive about the rooster? the fayed part, ithink. it represents positive about the rooster? the fayed part, i think. it represents a i°y fayed part, i think. it represents a joy and optimism so we could see a kind of optimistic five for the first half of the year but when you consider both elements together, it isa consider both elements together, it is a clashing relationship according to the fire element theory. you add that to the current soup of global world affairs and it is not quite a nice picture. there are basically twirled zodiac elements. who would the rooster team up with the best?‘ good friend of the rooster is that the dragon and the other two trends and allies are the ox and the snake. these are... what we say for annual lark. they come out

and i think the chinese prefer kill it. and i think the chinese p refer to kill it. and i think the chinese prefer to have stability with the us in the whole global economic system, and that was made clear by the chinese president. and this is election year in china and so it behoves them to try to get along with donald trump and try to strike some kind of trade deal. you will hearin some kind of trade deal. you will hear in america during the course of the election campaign and you know american voters, many of them think that the relationship between america and china has benefited china more than america. they say we did not get a good deal on north korea, on trade, and they're quite happy to see donald trump standing up happy to see donald trump standing up to beijing, they do not buy the argument that america could lose out. certainly there is rhetoric and risk reality. the rhetoric in the us has been largely one—sided, it has largely targeted china as the convenient whipping boy in every presidential election, that china is a currency manipulator, it is unfai

a weakening chinese economy and a weakening chinese economy and a weakening chinese currency. the president will be under great pains to tell the world that they should have confidence in china's economy and that they will play an important and responsible role on the world stage. this is how the chinese currency has fared. there is a battle between market forces and what the chinese central bank has been trying to do. the chinese currency has really weekend against the us dollar because market forces are trying to push the currency lower. at the same time, the people's bank is trying to strengthen the currency because a wea k strengthen the currency because a weak currency, though good for experts, is bad for the confidence of the economy and we have seen millions, if not billions of dollars poured out because of concerned citizens. one of the biggest themes will be growing inequality which may be growing even further. 0xfam claims a be growing even further. 0xfam claimsa group be growing even further. 0xfam claims a group of men they can fit into one golf buggy on the same w

there's the chinese currency chart. you can see stronger dollar, weaker chinese yuan over the last year. that has sharply reversed the last few trading days. making people question how much is flowing out of china. how much outflows they're dealing with and trying to raise short-term interest rates and put a cap on that. >> today the u.s. dollar is stronger by 0.4%. tuesday to late night, it was 3% move higher, massive for a pegged currency. certainly the story of the week has been surprise at the fact that the chinese have been able to stem capital outflows. most commentators saying this is temporary. soon we'll go back to a steady weakening of the yuan over time. which, of course, is the fear for china. whether it can manage the currency down in a slow managed fashion or at some point leg down. this week it's gone up. >>> broader markets. oil prices which did have a slip yesterday, we're having one today. up 0.8%. ten-year treasury note, big move in that yesterday. we saw it down to hit a low of 2.34%. the two-year no

chinese aree, spending and traveling. we are seeing tailor-made trips .oing very well >> more competition has been coming in in the luxury segment. how do you maintain your market share? >> we know the market very well. years, we have been the leading leisure travel company. we will continue to widen the gap between our peers. we lead the country in that we have the most competitive pricing and the most selection. a most important link, we have the best service. satisfyingerience customers. clients and our market. yvonne: i want to ask you about another competitor you have, see trip. you are putting yourself in direct competition with see trip. the stock has been lagging behind. in fact, well around the ipo few years ago. does this strategy makes sense, rivaling a big player that owns 70% of the market right now? position on leading package tours to specific travel areas. we offer hotel booking. we feel our clients needs. for destinations, we have the advantage of the hotels. as air ticketing for leisure travelers. offer

>> it is my reading that the chinese government would adhere keep theinciple and chinese currency. increasingly, in an currency -- currency in the basket. still, i believe that some measure is necessary. i hope things will stabilize very soon. on thend of panicking side of the investors will disappear. ♪ ♪ >> fiat chrysler is getting more than 2% right now. the company has announced it will invest $1 billion in making three new jeep models in the u.s. they say they are going to spend the billion dollars through 2020. ford is going to cancel a $1.6 billion investment in mexico, and saved some of the jobs it would have lost in the u.s.. are these carmakers doing donald trump's bidding or are they just throwing him a bone? >> at think there is currently a competition of announcements in who will invest in what in the u.s. most of it has been committed before. we know if you're chrysler a lot of money on cheap in particular. p inyone -- on jee particular. everyone just want to come out and make the announcement that they are building in the u.s. >> the forecast has been raised to $

think theweak d chinese currency gets? do we go through seven before donald trump takes office or the lunar new year? >> that is an interesting question, probably after the lunar year, but we definitely go through seven. i'm expecting parity with the hong kong dollar by the end of this year, and after that, we can crash all the way to a 25. stop you there, michael, do you think the pboc are going to allow dollar-yuan to go to eight unimpeded? what makes you think the pboc would not fight back the kind of move? >> i'm talking about a two-year timeframe. if we rewind two years, weaker than where we are now. if we project for two years, fx reserves will have evaporated entirely if we continue the current trend. powerful, but i don't remember them controlling gravity. manus: there are many things they can't control, donald trump, federal reserve two small items. ripping through the fx reserves, are there alternatives. , barring inhibor the swaps market, or do they let it go? borrowingf all, the is going on. we are not seeing i

entitlements at chinese and korean students and whereas the asian-american figure out discriminates in the 1818 successfully challenged other chinese children and whereas shortly after following the case in the same year sunbathed schools were approved by the assembly bill for children with their migration of white children and led to the segregation the white school and legal challenges with the so 02 walling even callahan they petitioned for his 12-year-old daughter to attend the public school on al gore student instead of the segregated oriental school and whereas the city lay in ruins with the aftermath of the 1906 san francisco earthquake the policy passed restricting children of china's and japanese and corp. to the oriental school and when the same year the board of education decided to the oak family that protested the perusal to immoral the 12-year-old child the james government lodged a formal complaint with the u.s. ambassador that was a violation of the 1894 japanese treated of the non- school policy for japanese immigrants to the u.s. those actions lead to a diplomatic

but a chinese foreign ministry spokeswoman said china will safeguard its own rights. our china editor carrie gracie reports on the growing tensions. there are three key flashpoints between the new trump administration and beijing — trade, taiwan and the south china sea. the last two involve the risk of military confrontation between a fast—growing naval power and the world's superpower. china lays claim to most of the south china sea, of the one of the busiest commercial waterways in the world, and one where several of its neighbours have competing claims. areas in the south china sea that are part of international waters and international activities, i think the us is going to make sure that we protect our interests there. after the new white house spokesman, sean spicer, echoed threats from the incoming secretary of state that the trump administration may use force to defend its interests in these waters, china has responded with defiance. translation: china will firmly safeguard the freedom of navigation under international law, peace and stability in the south

this is good news for the chinese airlines. they have been upping their prices and making sure they have enough capacity. it is also good news for the host nations because chinese tourists now outspend their american counterparts. $255e expecting about billion a year on that travel by 2025. that compares to the $137 billion they spent in 2017. travel and tourism, a key sector for the chinese government. they hope, despite a weaker yuan, the areas look continue to fly high in 2017. was signedp officially to the wastepaper basket of history. the dollar is weakening. let's look at how we will be covering those stories and many others, with the rest of bloomberg markets asia. what have we got. >> huge news out of the u.s. they opted out of the transpacific trade deal. years in the making. we will be discussing the winners and losers out of the u.s.. will trump replace the tpp with er trade deals. also, the u.k. supreme court rules on whether triggering brexit needs parliamentary approval. 11 judges ares 11 giving out their verdict

there is a strand, and i doubt aspect of chinese -- anere is a strand, an aspect of chinese strategic thinking which recognizes that the peace and prosperity of the asia-pacific region over the last seven decades, of which they have been a part, has only been possible because there is peace and security and the u.s. presence and role there has been essential for that peace and security. there is another strain of chinese thinking that goes back long in chinese history that they deserve to be dominant. that is something that not only the united states, as a pacific power, will naturally resist, but all the other countries of the region will as well. what we see today in addition to our own determination to continue improving our military capability there in every way making enormous investments. , we call it the rebalance. we have shifted a lot of forces to the asia-pacific specifically to make it clear that the united states will continue to play a military role in the asia-pacific. but that second strand of chinese behavior, the effect it is having, is to drive many in the region int

there is another strain of chinese thinking that goes back long in chinese history that they deserve to be dominant. that is something that not only the united states, as a pacific power, will naturally resist, but all the other countries of the region will as well. what we see today in addition to our own determination to continue improving our military capability there in every way, making enormous investments. we call it the rebalance. we have shifted a lot of forces to the asia-pacific specifically to make it clear that the united states will continue to play a military role in the asia-pacific. but that second strand of chinese behavior, the effect it is having, is to drive many in the region into our arms essentially, looking for greater cooperation with us. charlie: if china becomes more aggressive, they feel the need for some partnership and alliances that will bolster them? sec. carter: that's right. on top of which, many of them in their own right rising military powers. japan under abe. india, destined to be a major regional power. even vietnam, which we have such a comple

each chinese citizen has a quota of $50,000 they are allowed to exchange every year and it resets in january. with to exchange every year and it resets injanuary. with the strong us dollar and concerns about the wea kness dollar and concerns about the weakness of the chinese yuan, that is adding two rules to be able to stop a rush to exit. he is the view from an economist in shanghai. what happens every year it is onjanuary one the quota is reset, and over the last one and a half years roughly $1 trillion has left china both through companies and individuals and the concern at the central bank is at the start of the year there would be a stampede to the exit, so it has kept the $50,000 quota and now banks have to report any transaction of more than $10,000, so effectively they are trying to put years to slow they are trying to put years to slow the rush to the exit. -- gears. you say it has been $1 trillion, is it correct, leaving the country, so this is a worry for the chinese authorities — how are they going to address it, will these rules be enough? they are trying to address it

dollar against the chinese currency. where it wast to yesterday, obviously it will get headlines like this. is theing said, that objective assessment, sort of like how it is on the surface. what does it mean? this, youfixing like get a big spike in things like the high court, things like deposit rates. if you are a short seller, with a short position on the yuan, you are banging your head on the wall. your tears will get a lot more better tonight when you look at your book. offshore renminbi, you have a weakening. biggest drop in six months, big deal. that andeave it at flush the story out later on, but it is really about singling from the pboc. let's look at the opening from the chinese cash market. shanghai and hong kong. kong at the moment is leading these gains across the asia-pacific. have a look at the top three in bottom three. producers seeing a very decent session right now. volatility of the banks. let's break it down for you. the hang seng, let's have a look. way, since we are talking about this, this is reall

chinese are already doubling down. it is interesting looking at how the renminbi has tracked since 2013. they are allowed -- prepared to allow the renminbi to fall against the dollar dramatic -- gradually. not dramatically. gradual process. we would expect that process, a gradual process to continue the depreciation of the renminbi. they would like to keep their foreign exchange reserves at or above $3 trillion if they can but they may not be able to do that. anna: you say that you expect that gradual approach to continue. dependent on what we see from donald trump. at the moment, there may or -- there may be little incentive to let that currency fall faster. >> if donald trump follows through on his promises to impose tariffs on imports from china, then it is quite likely that china will try to resist the effect that would have on u.s. prices of chinese imports expressed in dollars. how do you do that? fallllow the renminbi to against the dollar a lot or you subsidize exports even farther . america's trade deficit wit

chinese buyers have been unstoppable in the property markets. yuanis accelerated as the has continued its depreciation and investors look for places to put their money and protect themselves from the impact of a declining currency. that, apart from other needs, like education and access to other markets worldwide, has sent chinese investors on a buying binge the likes of which we have never seen before. there are these new curves that were introduced. give us the details and why they were introduced. o as outflows accelerated from china, we did see the chinese authority stepped up some of these crackdowns on how china.ney is leaving it is not just in property we have seen it. we have seen other crackdowns on purchasesnal m&a, on of insurance and property is one of those things the authorities are looking at closely as they stem the outflow. they have explicitly had chinese buyers state the reason for their purchases overseas. that is spooking investors. thank you so much. we will talk more about this. more on the global property market and the c

>> chinese deals could be a dark spot this year. there has been a crazy wave out of china in 2016, but now the government is cracking down on less strategic deals. most make a deals of $10 billion or more have been banned. tryinge curbing deals, to stop acquisitions in overheated areas like film production and hotels, so we will see companies focusing on the deals that make sense. rishaad: thank you very much indeed for that. now, 2017 may prove more kind to companies seeking to list in malaysia. less than five years ago, the country was the top ipo destination in southeast asia, then it lost its allure. forwas last year so slow companies coming to the market there? i think there was a multitude of factors. there was actions, lot of uncertainty, the global commodities market did not do too well as well. the volatile ringgit was another factor. a lot of companies planning ipo's in 2015 and 2016 have had to postpone it until later. what is theht, so thinking at the moment? either expectations of a rebound? we have a lyrical uncertaint

, and urged, referring to the chinese president, xijinping, and on urged, referring to the chinese president, xi jinping, and on the back of the a section, the main section, photos of the inauguration with the president and the first lady, the new first family and of course the departing resident. now, of course, hong kong still has an active pro—democracy movement. the world saw this in full force two years ago during the 2014 protests. those calls haven't diminished and in fact in the last year or so the case of the missing booksellers, there have been more concerns about china's enlarging reach in hong kong, which is a semiautonomous chinese city. pro—democracy leaders in the city are hoping that the president will take a harder line against the chinese government, against the chinese government, against beijing, on these issues of democracy, voting rights and freedom of the press. but of course they are not entirely sure if they will be getting, what kind of ally they will be getting. now, fora getting, what kind of ally they will be getting. now, for a view from a different part of

exporters out of the chinese market. we have a chart that shows this comes at a pretty painful time for the biofuel industry in the u.s., particularly the producers of this tried to sellers grain. they have seen the prices fall since june of 2016. particularly bad timing for them . we have seen blocked imports of stuff as well. increased trade tensions. there is nothing on material between china and the u.s.. what are the water indications when it comes to u.s. -- wider indications when it comes to u.s. agriculture if this continues to deteriorate? tom: to give you an idea how important china is for u.s. agriculture, iticked up 200% in the last decade. value, that was around 20.2 u.s. billion dollars by the end of 2015. some of the biggest imports since things like soybeans, maize, animal hies. could be inflicted, because china is looking at increasing tariffs on ethanol to 30%. little wonder that the biofuel industry will be pressuring trump to take action on this to his chinese counterparts to an area of contention. th