1 00:00:02,040 --> 00:00:04,920 Speaker 1: News when you want it with Bloomberg News Now, I'm 2 00:00:04,920 --> 00:00:09,080 Speaker 1: Brian Curtis in Hong Kong. South Carolina Senator Tim Scott 3 00:00:09,160 --> 00:00:12,520 Speaker 1: is ending his presidential run. Scott's bid was seen as 4 00:00:12,520 --> 00:00:16,600 Speaker 1: an alternative to Republican standard bearer Donald Trump. Scott had 5 00:00:16,600 --> 00:00:20,400 Speaker 1: struggled to emerge from a crowded pack. House Speaker Mike 6 00:00:20,480 --> 00:00:23,599 Speaker 1: Johnson is trying a new approach to funding the government, 7 00:00:23,920 --> 00:00:27,840 Speaker 1: but Bloomberg's head backs to reports shutdown risks still linger. 8 00:00:28,240 --> 00:00:32,000 Speaker 2: The Johnson plan would extend some government funding until January nineteenth, 9 00:00:32,000 --> 00:00:35,800 Speaker 2: and others until February second. It also declined to do 10 00:00:36,000 --> 00:00:39,199 Speaker 2: the immediate thirty percent spending cuts demanded by the right 11 00:00:39,240 --> 00:00:42,600 Speaker 2: wing of his party, so that means fewer Republican votes 12 00:00:42,640 --> 00:00:46,000 Speaker 2: and reliance on Democrats to cross lines and vote for it. 13 00:00:46,360 --> 00:00:50,199 Speaker 2: He says spending addiction cannot be broken overnight. Democrats so 14 00:00:50,360 --> 00:00:53,280 Speaker 2: far have been moot. Whitehouse, though has already said it 15 00:00:53,320 --> 00:00:57,520 Speaker 2: would only lead to future shutdowns. Johnson says he's scheduling 16 00:00:57,520 --> 00:01:00,680 Speaker 2: a vote for tomorrow ed Baxter Lmberg Redio. 17 00:01:00,840 --> 00:01:04,920 Speaker 1: The White House says restoring military communications with Beijing is 18 00:01:05,040 --> 00:01:08,399 Speaker 1: a top priority. It comes as President Biden and Chinese 19 00:01:08,480 --> 00:01:12,319 Speaker 1: leader Shi Jinping prepared to meet on Wednesday in San Francisco. 20 00:01:12,840 --> 00:01:16,880 Speaker 1: US National Security Advisor Jake Sullivan spoke on CNN's State 21 00:01:16,920 --> 00:01:17,400 Speaker 1: of the Union. 22 00:01:17,880 --> 00:01:21,960 Speaker 3: When it comes to managing the relationship, ties and communications 23 00:01:22,000 --> 00:01:25,959 Speaker 3: between our two militaries are critical. The Chinese have basically 24 00:01:26,040 --> 00:01:29,320 Speaker 3: severed those communication links. President Biden would like to re 25 00:01:29,520 --> 00:01:32,920 Speaker 3: establish them, and he will look to this summit as 26 00:01:32,959 --> 00:01:35,560 Speaker 3: an opportunity to try to advance the ball on that. 27 00:01:35,959 --> 00:01:38,440 Speaker 3: And he's also looking for other practical ways to show 28 00:01:38,480 --> 00:01:42,360 Speaker 3: the American people that sitting down with Shijimping can defend 29 00:01:42,400 --> 00:01:46,080 Speaker 3: American interests and also deliver progress on the priorities of 30 00:01:46,120 --> 00:01:46,959 Speaker 3: the American people. 31 00:01:47,880 --> 00:01:51,400 Speaker 1: Meantime, US Treasury Secretary Janet Yellen is planning to visit 32 00:01:51,520 --> 00:01:54,480 Speaker 1: China again next year. This comes at the invitation of 33 00:01:54,560 --> 00:01:57,560 Speaker 1: Chinese Vice Premier Holy Fung. Here's Jennet Yellen. 34 00:01:58,120 --> 00:02:02,840 Speaker 4: I spoke to Vice Premier about our goal of achieving 35 00:02:03,120 --> 00:02:08,639 Speaker 4: a healthy economic relationship that benefits both our countries over time. 36 00:02:09,080 --> 00:02:12,680 Speaker 4: We do not seek to decouple our economy from China's. 37 00:02:13,400 --> 00:02:16,440 Speaker 4: This would be damaging to both the US and China 38 00:02:16,960 --> 00:02:19,160 Speaker 4: and destabilizing to the world. 39 00:02:20,080 --> 00:02:23,600 Speaker 1: Janet Yellen. In other news, the US credit rating outlook 40 00:02:23,800 --> 00:02:27,360 Speaker 1: was cut to negative from stable by Moody's Investors Service. 41 00:02:27,880 --> 00:02:30,560 Speaker 1: The firm said there is greater downside risk to US 42 00:02:30,639 --> 00:02:34,119 Speaker 1: fiscal strength. Bloomberg's Michael McKee moody. 43 00:02:33,960 --> 00:02:39,480 Speaker 5: Certainly with a negative outlook could take additional action if 44 00:02:39,760 --> 00:02:43,720 Speaker 5: the US were to have a government shutdown. Maybe this 45 00:02:44,440 --> 00:02:46,520 Speaker 5: could be Moody's is looking at as a sort of 46 00:02:46,520 --> 00:02:50,480 Speaker 5: a warning shot over the bow of the USS Congress 47 00:02:50,560 --> 00:02:51,440 Speaker 5: or something like that. 48 00:02:51,840 --> 00:02:56,640 Speaker 1: Moody's expects US fiscal deficits to remain very large. Boeing 49 00:02:56,760 --> 00:02:59,440 Speaker 1: may see a sales breakthrough for it seven thirty seven 50 00:02:59,520 --> 00:03:02,400 Speaker 1: Max air craft in China Bloomberg's Danny Lee. 51 00:03:02,680 --> 00:03:05,800 Speaker 6: This situation of jeopolitical tension, Bowing still has to wait 52 00:03:05,960 --> 00:03:09,600 Speaker 6: for what Beijing wants to do with the wider relationship. 53 00:03:09,600 --> 00:03:09,919 Speaker 5: Conceive. 54 00:03:10,040 --> 00:03:12,560 Speaker 6: The airlines in China operate the bone seventy to seven 55 00:03:12,639 --> 00:03:15,760 Speaker 6: mets or going seventy seven Jetliner. At the moment, they're 56 00:03:15,760 --> 00:03:18,360 Speaker 6: starting to retire more and more of these aircraft, so 57 00:03:18,800 --> 00:03:22,000 Speaker 6: replacements are due, but what they get any is another 58 00:03:22,040 --> 00:03:22,600 Speaker 6: big question. 59 00:03:23,720 --> 00:03:27,120 Speaker 1: Boeing hasn't had significant sales of its narrow body jets 60 00:03:27,160 --> 00:03:31,880 Speaker 1: in China since at least twenty eighteen. And that's news 61 00:03:31,960 --> 00:03:35,280 Speaker 1: when you want it. With Bloomberg News Now, I'm Brian Curtis. 62 00:03:35,400 --> 00:03:36,520 Speaker 1: This is Bloomberg