Speaker 1: Good morning. I'm Brian Curtis and I'm Doug Prisner. Here
Speaker 1: are the stories we're following today.
Speaker 2: Donald Trump leads the polls as we head into the
Speaker 2: Iowa caucus. Let's get more from Dan Schwartzman in New York.
Speaker 2: Dan Hey, Brian.
Speaker 3: According to an NBC News Des Moines Registry poll, Republican
Speaker 3: presidential front runner Donald Trump does lead Nikki Haley handily
Speaker 3: heading into Iowa caucus's Monday. The poll shows Trump with
Speaker 3: forty eight percent support, Haley sitting at twenty percent. Haley,
Speaker 3: taking part in a telephone town hall, says Trump isn't
Speaker 3: the right choice.
Speaker 4: We can't be a country in disarray and a world
Speaker 4: on fire and go through four more years of chaos.
Speaker 5: We won't survive it.
Speaker 4: And I think a lot of that is how we
Speaker 4: communicates and what happened.
Speaker 3: It just sets us all in disarray. Haley was taking
Speaker 3: part in the telephone town hall after her event was
Speaker 3: canceled due to the weather. Coming in third place in
Speaker 3: that poll Florida Governor Ron DeSantis at just sixteen percent.
Speaker 3: While Trump does hold a commanding lead, Support for the
Speaker 3: former president has softened slightly from fifty one percent into
Speaker 3: the last poll, which is taken back in December. Meanwhile,
Speaker 3: Iowa Governor Kim Reynolds endorsed Desantus in the Republican presidential primary.
Speaker 3: She recently sat down with Bloomberg's Sleigh Up Moss on
Speaker 3: the inaugural episode of The Big Take DC podcast. Reynolds
Speaker 3: doesn't think Trump has a nomination locked up.
Speaker 4: I don't believe the polls. The same polls told us
Speaker 4: in this last election we were going to have a
Speaker 4: red tsunami across the country, and that didn't happen. It
Speaker 4: did in Iowa, it did in Florida because we did
Speaker 4: what we said we were going to do and past
Speaker 4: policies that impact the people that we serve, but it
Speaker 4: wasn't the case across the country.
Speaker 3: Here more of our interview with Iowa Governor Kim Reynolds
Speaker 3: on The Big Take DC podcast, and tune in tomorrow
Speaker 3: for a special edition of Balance of Power at five
Speaker 3: pm Eastern Time, followed by live coverage of the Iowa
Speaker 3: CAUCUSUS at eight on Bloomberg Radio and television. The US
Speaker 3: has been hit with frigid weather that sent temperatures plummeting
Speaker 3: to minus five degrees in parts of the Midwest, while
Speaker 3: potentially dumping up to two feet of snow in western
Speaker 3: New York. In Iowa, wear that twenty twenty four Republican
Speaker 3: present cycle gets under way Monday evening, the National Weather
Speaker 3: Service issuing an advisory for quote life threatening windshills through
Speaker 3: noon Central Time on Tuesday. According to flight Aware, over
Speaker 3: thirteen hundred flights in and out of the country were
Speaker 3: canceled due to weather. With the possibility of a government
Speaker 3: shutdown occurring January twentieth, Congressional leaders working on a renewed
Speaker 3: stopgap funding bill to keep the government funded into March.
Speaker 3: An extension plan seems to be a solution, as two
Speaker 3: staggered deadlines approach for the twelve annual government funding bills
Speaker 3: are needed to be passed by January nineteenth. Remaining eight
Speaker 3: have to be passed by February second. House and Senate
Speaker 3: leaders working to continue funding at existing levels until March
Speaker 3: first for the first four and March eighth for remaining eight.
Speaker 3: While Democratic Senate Majority Leader Chuck Schumer has begun procedural
Speaker 3: steps toward a stopgap bill, Republican House Majority Leader Mike
Speaker 3: Johnson has yet to commit to one. Republican Ohio Representative
Speaker 3: Jim Jordan says he wants a longer stopgap spending bill
Speaker 3: passed April, and he also says Speaker Johnson will be
Speaker 3: rejecting the border compromise. Global News twenty four hours a
Speaker 3: day and whenever you want it with Bloomberg News. Now,
Speaker 3: I'm Dan Schwartzman, and this is Bloomberg.
Speaker 2: This is Bloomberg Daybreak Asia, Brian Curtis and Doug Krisner,
Speaker 2: and we will joined by Vonnie Quinn a little bit later.
Speaker 2: Now it's time for the top business and political stories
Speaker 2: of the hour. China is warning the United States not
Speaker 2: to interfere in Taiwan's affairs. That's after a US friendly candidate,
Speaker 2: Leijing Da won Taiwan's presidential election on Saturday. Lie signaled
Speaker 2: that he would cooperate with China moving forward, but it's
Speaker 2: unlikely that the party, the DPP, would be able to
Speaker 2: restart talks with Beijing. The Communist Party demands agreement that
Speaker 2: Taiwan is part of China as a prerequisite for any
Speaker 2: such dialogue. Talks between China and Taiwan have been suspended
Speaker 2: over the past eight years. Kerry Brown is professor of
Speaker 2: Chinese Studies at King's College, London. He thinks there's still
Speaker 2: some room for a relationship moving forward.
Speaker 6: Taiwan has for forty five percent of its trade with
Speaker 6: China solone, there's got to be some relationship, even if
Speaker 6: it's not a particularly friendly one.
Speaker 2: Kerry Brown Beijing said that the election result will not
Speaker 2: change Taiwan's status, and after Li's victory, President Biden repeated
Speaker 2: that the US does not support independence for Taiwan, and
Speaker 2: coming up in a few moments, we will be talking
Speaker 2: with Ivy Quak, who is a China fellow at the
Speaker 2: International Crisis Group for more on the Taiwan elections.
Speaker 5: Well.
Speaker 1: Financial markets may respond positively to those election results for Taiwan,
Speaker 1: although as Brian pointed out, that could change if China
Speaker 1: were to respond more aggressively. Bloomberg, David and Glass has
Speaker 1: more from Hong Kong.
Speaker 7: Local stocks, and the Taiwan dollar had already priced in
Speaker 7: a presidential victory for the DPP and the loss of
Speaker 7: its majority in the legislature. Experts now say that may
Speaker 7: lead to a more centrist orientation of policies in Taiwan,
Speaker 7: and that might provide a positive impact to financial markets.
Speaker 7: Traders will also be watched Beijing. So far, China's reaction
Speaker 7: has been relatively mild. It said only that the results
Speaker 7: do not represent mainstream public opinion on the island. The
Speaker 7: Taiwan dollar is expected to remain steady as it's driven
Speaker 7: more by export trends, the tech outlook and FED policy
Speaker 7: in the US. In Hong Kong, I'm David Ingless Bloomberg Radio.
Speaker 2: China's financial market regulator says, you will adopt a zero
Speaker 2: tolerance policy toward illegal behavior. Bloomberg's Juan Wong has the
Speaker 2: story from Hong Kong.
Speaker 8: China's regulators said it would make sure those who commit
Speaker 8: crimes pay a painful price. The National Financial Regulator Administration
Speaker 8: said it would consider revising punishment rules. Authorities also said
Speaker 8: that with strengthen communication and coordination with China's judicial organizations,
Speaker 8: the enhanced scrutiny is part of a deepening crackdown that
Speaker 8: spans finance to health. On Friday, the PBOC also pledged
Speaker 8: to enhance its market oversight via stronger punishments. Moose or
Speaker 8: online with President Chijin Pink's vow to eradicate corruption in
Speaker 8: Hong Kong and joined Wong Bloomberg Radio.
Speaker 1: The US economy could soon get another massive cash infusion.
Speaker 1: Congressional negotiators are currently talking about renewing business tax breaks
Speaker 1: and boosting the child tax credit, and if a deal
Speaker 1: manages to pass a deeply divided Congress, the American economy
Speaker 1: could see a fiscal boost worth at least seventy billion
Speaker 1: dollars now. Needless to say, the extra cash could boost
Speaker 1: consumer spending, but some economist are saying it could also
Speaker 1: trigger another round of inflation, and obviously that could make
Speaker 1: the Fed's job a little more difficult right.
Speaker 2: Well, to some corporate news now, Doug, we're hearing at
Speaker 2: Apple is shutting down its artificial intelligence team of more
Speaker 2: than one hundred people in San Diego. That story from
Speaker 2: Bloomberg's Denise Pelgrini.
Speaker 9: Sources say the data operations annotations unit is suddenly being
Speaker 9: told it's merging with similar operations in Austin, Texas, and
Speaker 9: San Diego. Workers are being told they'll be fired if
Speaker 9: they don't agree to the move. The group also has
Speaker 9: offices in China, India, Ireland, and Spain. It's responsible for
Speaker 9: evaluating if Siri hears and responds correctly in various languages.
Speaker 9: Apple says everyone on the San Diego team is being
Speaker 9: offered jobs in Texas. Apple stock has been faltering lately.
Speaker 9: A Microsoft overtook Apple Friday is the world's most valuable company.
Speaker 9: Concerned about Apple's iPhone business in China has been weighing
Speaker 9: on the stock. Denise Pelgrit Bloomberg Radio.
Speaker 2: This is Bloomberg Daybreak Asia. Brian Curtis and Vonnie Quinn
Speaker 2: joins us now from New York. Our guest is Ivy Quek,
Speaker 2: who is China Fellow at the International Crisis Group, to
Speaker 2: take a closer look at the election. So so many
Speaker 2: angles here, Ivy to talk about it will set aside
Speaker 2: the geopolitics for the moment and just say that for
Speaker 2: this moment the status quo has been maintained, but there
Speaker 2: will be some differences with William Lai's victory here. I'm
Speaker 2: curious how you see the Lie administration differing from perhaps
Speaker 2: signing ones.
Speaker 5: Well, the president elect. Lie has vowed to preserve President's
Speaker 5: high legacy, so I would say that we will expect
Speaker 5: to see some continuity in terms of their approach when
Speaker 5: it comes to cross right relations as well as our
Speaker 5: relations with the United States. I think what differs between
Speaker 5: UH the new president and President's hie is that he
Speaker 5: has not yet uh built uh the trust uh specifically
Speaker 5: for himself, uh unlike our president HIE has that has
Speaker 5: proven himself to be a very steady hand and also
Speaker 5: practice a very moderate policy when it comes to uh
Speaker 5: these uh diplomatic issues. So I think that that is
Speaker 5: something that President elect Lie I would have to uh
Speaker 5: will have the established really soon as he takes office.
Speaker 10: What about the idea that the mandate might have been
Speaker 10: like a little bit that there was just forty percent
Speaker 10: of the people that voted, and that there's also now
Speaker 10: a difference between who's running the country and who's running
Speaker 10: parliament i e. Coalition.
Speaker 5: Yeah, So I think the election result is quite in
Speaker 5: line with what the posts said before this, and it's
Speaker 5: quite expected. So he did not get a majority, it's
Speaker 5: only forty percent, but given that it was a tree
Speaker 5: colin of flight, I would say that this is still
Speaker 5: quite a solid result. That DPP has received a pretty
Speaker 5: good support and going forward, as you said that the
Speaker 5: DPP does not also control the majority at the legislative
Speaker 5: wiand it means that there might have to be more
Speaker 5: consultations between the parties that might be more negotiations, and
Speaker 5: it is true that the president might see his power
Speaker 5: relatively uh restrained, But I would say that, uh, all
Speaker 5: three parties do have some level of consensus when it
Speaker 5: comes to key issues such as uh, uh you know,
Speaker 5: maintaining a good ties with the US, so I would say,
Speaker 5: and also strengthening the defense capability of Taiwan. So I
Speaker 5: would say that we shouldn't we shouldn't see to to
Speaker 5: too much of a difficulty in maintaining some of these policies.
Speaker 5: Obviously you're see more politic theatrics, but I guess, uh,
Speaker 5: you know, in every democracy, Uh, these check out balances
Speaker 5: are sometimes also always also a good thing.
Speaker 2: I want to get to the China response, but I
Speaker 2: I think I need to follow up. I think a
Speaker 2: lot of Going long supporters are quite frustrated here. Even
Speaker 2: though you say that you know the result was a
Speaker 2: pretty solid result for the d p P. You have
Speaker 2: to almost go back to the year two thousand when
Speaker 2: James Song ran that you you had this begin to happen,
Speaker 2: where the opposition to the d p P is divided
Speaker 2: like this, Uh do you expect that to continue? What
Speaker 2: do you think the next time around?
Speaker 7: Uh?
Speaker 2: The opposition will be able to somehow form a coalition.
Speaker 5: I think this time around, we definitely see a lot
Speaker 5: of this satisfaction, a lot of uh discontent towards the
Speaker 5: DPP that is now being viewed as an establishment. So
Speaker 5: a lot of these protest vote have either gone to
Speaker 5: the K and T or the TPP, especially the TPP
Speaker 5: for UH, who has gotten a lot of formerly DPP votes.
Speaker 5: So I would say that it really depends on how
Speaker 5: well President might like and really uh improve its policy,
Speaker 5: especially it's domestic agenda to win these votes. Otherwise, I
Speaker 5: think that we might continue to see uh the opposition
Speaker 5: uh you know, being able to uh uh uh you know,
Speaker 5: based on these issues, will be able to get more support.
Speaker 5: As to whether the opposition can actually unite as one,
Speaker 5: I think that that remains to be seen. I think
Speaker 5: really depends on how well they can work together this
Speaker 5: time around, and especially for TPP, what kind of role,
Speaker 5: what kind of response that they're going to take, because
Speaker 5: at this moment it is still unclear whether they will
Speaker 5: work with the county or they could possibly also be
Speaker 5: working with the BPD government more closely.
Speaker 10: I know Ryan wants to ask about the China response,
Speaker 10: So let's do that now in case we run out
Speaker 10: of time. What kind of reaction did you have when
Speaker 10: you saw the statement compared to the statement four years ago?
Speaker 5: I would say that, yeah, it is a relatively bound statement.
Speaker 5: I think that perhaps Beijing have also expected this result,
Speaker 5: and the fact that the fact that they did not
Speaker 5: win the majority UH the legislative and also you know,
Speaker 5: maybe UH reduced some of Beijing's anxieties in terms of
Speaker 5: UH UH the the influence of d p P. But
Speaker 5: I also I think essentially UH, Beijing wants to keep
Speaker 5: things under control. It does not want UH the tensions
Speaker 5: to UH over over over blown because I think that
Speaker 5: stability is what Beijing is looking for right now in
Speaker 5: terms of its relations with What's interesting process.
Speaker 2: What's interesting is that even with that mild response from China,
Speaker 2: we we also saw a pretty mild response from la
Speaker 2: Ching the I mean, he did not really get up
Speaker 2: and beat the chest, did he. How do you interpret
Speaker 2: the comments that he made after the victory.
Speaker 5: Yeah, I think that maintaining a state school is really
Speaker 5: the prefer way forward for the Taiwanese populations. So UH,
Speaker 5: I think that UH there is UH this understanding UH
Speaker 5: that going forward there needs to be more uh you know,
Speaker 5: more moderation, and uh there needs to be that, uh
Speaker 5: that both parties need to fight, both sides need to
Speaker 5: find a way to resume dialogues because uh it is
Speaker 5: not sustainable for for both sides to to continue.
Speaker 10: Uh.
Speaker 5: These are very tense relations where there's almost known dialogues
Speaker 5: have happened in the past eight years. So uh I
Speaker 5: think that for the next new government, Uh, there needs
Speaker 5: to be also more effort to seek a nature understanding
Speaker 5: with Beijing so that uh, you know, the crustrated dialogue
Speaker 5: can resume.
Speaker 2: This is Bloomberg Gay breaks your morning brief on the
Speaker 2: stories making news from Hong Kong to Singapore and Wall Street.
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