WEBVTT - Xi and Biden Meet, Chinese Tech Earnings

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<v Speaker 1>Good morning.

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<v Speaker 2>I'm Brian Curtis and I'm Doug Krisner. Here are the

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<v Speaker 2>stories we're following today.

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<v Speaker 1>Well, President Biden and Shi Jinping did meet. President Biden

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<v Speaker 1>said real progress was being made. The two leaders hope

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<v Speaker 1>to repair relations strained by economic competition and military issues.

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<v Speaker 1>Bloomberg's Tom Orleck says this would be beneficial to both

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<v Speaker 1>the US and China.

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<v Speaker 3>The US, he's got a war in Ukraine, war in

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<v Speaker 3>the Middle East. They really don't need things blowing up

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<v Speaker 3>with China at the same time, and Shi Jimping, Well,

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<v Speaker 3>he's wrestling with a monumental crisis in the real estate sector,

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<v Speaker 3>which is hammering growth, hammering wealth for China's middle class,

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<v Speaker 3>and there's growing concern in Beijing that the investment just

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<v Speaker 3>isn't coming in anymore. So for both sides right now,

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<v Speaker 3>the incentive is to bring a bit of stability to

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<v Speaker 3>the relationship.

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<v Speaker 1>Bloomberg's Tom Orleck. We're expecting a solo news conference from

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<v Speaker 1>President Biden at the APEX that will be happening at

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<v Speaker 1>seven fifteen pm Wall Street Time.

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<v Speaker 2>Well, today in Washington, d C, China's embassy slammed report

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<v Speaker 2>to the US Congress. It said that US China relations

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<v Speaker 2>were not getting better. We have more from Bloomberg's Von Men.

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<v Speaker 4>China denounced what was a critical report by the US

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<v Speaker 4>China Economic and Security Review Commission. The Commission's annual report

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<v Speaker 4>to Congress struck a downbeat tone, just as Presidents Joe

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<v Speaker 4>Biden and Chijing Ping were said to meet this week.

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<v Speaker 4>Chinese Embassy spokesman Leo pung Yu accuse the Commission of

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<v Speaker 4>entrenched bias. The Commission said China has shown an increased

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<v Speaker 4>willingness to engage with the US, but I said there's

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<v Speaker 4>little evidence that Beijing intends to make concessions or modify

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<v Speaker 4>its policies to improve relations. The Chinese embassy spokesman said

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<v Speaker 4>the Commission's comments were irresponsible. In Hong Kong, I'm von Mann,

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<v Speaker 4>Bloomberg Radio.

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<v Speaker 1>China's tech companies ten JD dot Com both reported earnings

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<v Speaker 1>that beat estimate. We get more from Bloomberg's Joan Wong.

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<v Speaker 5>In taipe A, ten Cent saw a gain of ten

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<v Speaker 5>percent in revenue after video advertising on we Chat propelled growth.

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<v Speaker 5>Third quarter revenue was twenty one point four billion dollars.

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<v Speaker 5>That designed that Chinese consumers are turning to social media

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<v Speaker 5>in games despite a nationwide downturn. Meanwhile, JD dot Com

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<v Speaker 5>post at a one point seven percent rise in quarterly revenue.

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<v Speaker 5>That's after heavy promotional spending. Revenue came in at thirty

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<v Speaker 5>four point two billion dollars, just beating the estimate of

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<v Speaker 5>thirty four billion. Net InCom rows thirty three percent. Both

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<v Speaker 5>stocks jumped and US trading on Wednesday in Taipam Joanne

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<v Speaker 5>Wong Bloomberg Radio.

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<v Speaker 2>Well after the bill. Here in the US, we heard

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<v Speaker 2>from Cisco Systems. This company is the largest manufacturer of

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<v Speaker 2>computer networking equipment, and Cisco gave a troubling sales forecast.

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<v Speaker 2>We have more from Bloomberg's Tom Busby.

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<v Speaker 6>Despite posting strong results for the just completed first quarter

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<v Speaker 6>revenue of eight percent to fourteen point seven billion dollars

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<v Speaker 6>earnings of a dollar eleven a share, it's Cisco's outlook

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<v Speaker 6>that was the big news. The computer networking hardware giant

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<v Speaker 6>gave a disappointing forecast well short of analyst estimates, reflected

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<v Speaker 6>in an expected pullback in businesses raining in their spending

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<v Speaker 6>on technology. Sales now forecast to be between twelve point

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<v Speaker 6>six and twelve point eight billion dollars, well shy of

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<v Speaker 6>the fourteen point two billion that analysts estimated. Tom buzzby

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<v Speaker 6>Bloomberg Radio.

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<v Speaker 2>And Brian Right now I'm looking at shares in Cisco

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<v Speaker 2>down more than eleven percent. In the late US session,

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<v Speaker 2>we hear.

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<v Speaker 1>That SpaceX is discussing an initial public offering for its

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<v Speaker 1>fast growing Starlink satellite business as soon as late twenty

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<v Speaker 1>twenty four. No final decisions have been made, but SpaceX

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<v Speaker 1>reportedly has been moving the satellite unit's assets to a

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<v Speaker 1>wholly owned subsidiary that would ultimately be spun off in

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<v Speaker 1>the IPO. More from Bloomberg's Ed Ludlow.

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<v Speaker 7>The idea Starling Beingk's fun off is something that Elon

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<v Speaker 7>Musk and Gwynn shot Well, who's the president of SpaceX,

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<v Speaker 7>have discussed in the past. What's changed is just that

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<v Speaker 7>the business has such fromentum. We reported a couple of

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<v Speaker 7>weeks ago that next year Starlink revenues could be above

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<v Speaker 7>ten billion dollars, meaning the majority of revenues overall from

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<v Speaker 7>SpaceX alongside the launch business.

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<v Speaker 1>That's Bloomberg's ed Ludlow. Following Bloomberg's report, Musk called it

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<v Speaker 1>false in a post on X, the social media platform

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<v Speaker 1>he owns he did not elaborate separately. SpaceX received approval

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<v Speaker 1>for the second launch of its groundbreaking Starship rocket. It

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<v Speaker 1>ends an almost seven month hiatus, and it inches Elon

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<v Speaker 1>Musk closer to his goal of sending humans to the

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<v Speaker 1>Moon and beyond. Now it's time for global news. President

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<v Speaker 1>Biden says he's making real progress in discussions with Shi Jinping.

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<v Speaker 1>They finished up their face to face meeting on the

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<v Speaker 1>sidelines of APEX at Baxter has the story and the

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<v Speaker 1>rest of the news from the nine to sixty news

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<v Speaker 1>room at San Francisco.

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<v Speaker 5>Ed.

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<v Speaker 8>Yeah, that's right, Brian on both sides, saying communication on

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<v Speaker 8>economic and military issues in a thaw on the cold relationship.

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<v Speaker 8>Biden says, real progress. There's no substitute to face to

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<v Speaker 8>face discussions. I've always found our discussions straightforward and frank,

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<v Speaker 8>and I've always appreciated it. And the White House has

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<v Speaker 8>issued a statement saying that the President is very pleased

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<v Speaker 8>with the meeting, saying he feels great progress was made.

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<v Speaker 8>Earlier in the day, a White House said that Biden

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<v Speaker 8>would make it very clear that the US was not

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<v Speaker 8>pushing for Taiwan independence. We should hear more about that

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<v Speaker 8>in the next hour. So realistically, though, Dominic Chu, senior

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<v Speaker 8>analyst at the Eurasia Group, says anything coming out of

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<v Speaker 8>this will not be earth shaking.

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<v Speaker 9>Both countries will step upon restoring military dialogue, restoring people

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<v Speaker 9>to people contact, student exchanges, tourism flights. They might also

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<v Speaker 9>be corporate deal emerging, but these agreements are small in scale.

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<v Speaker 9>It will not fundamentally altered to climb in relations.

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<v Speaker 8>But Bloomberg'samrie Hordern at APEX says it is important.

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<v Speaker 10>I think the fact that these two individuals, the leaders

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<v Speaker 10>of the biggest economies, two biggest economies in the world,

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<v Speaker 10>are sitting down shows that they do want a different

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<v Speaker 10>path forward, that both want to be able to manage

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<v Speaker 10>this relationship and get something out of this relationship. For

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<v Speaker 10>Shijing Ping, we know that he was pressing economic issues.

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<v Speaker 10>When it comes to the sanctions and terrorist regimes that

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<v Speaker 10>are placed on Beijing from the United States, we do

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<v Speaker 10>know that something the US does not want to meddle with.

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<v Speaker 8>At the moment, news conference scheduled for next hour, we

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<v Speaker 8>should know more pressure on China has not eased coming

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<v Speaker 8>from US law enforcement. Meanwhile, FBI Director Christopher Ray telling

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<v Speaker 8>a House committee today, China is heavily involved in the

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<v Speaker 8>fentanyl trade in the United States.

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<v Speaker 11>We've got easily two thousand active investigations across all fifty

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<v Speaker 11>six field offices into China's relentless efforts to steal our

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<v Speaker 11>innovation and intellectual property. And over the past two years along,

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<v Speaker 11>we've seized enough fentanyl to kill two hundred and seventy

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<v Speaker 11>million Americans. That's more than eighty percent of all Americans.

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<v Speaker 8>Yeah. Now, United Nations specific Middle Eastern countries including Jordan

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<v Speaker 8>and Turkey, have strongly condemned Israel's raid on l Ship Hospital,

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<v Speaker 8>but Israel says its army has found weapons at the hospital,

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<v Speaker 8>weapons as well used by military equipment that says shows

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<v Speaker 8>that Hamas was used some kind of command center. But

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<v Speaker 8>with the UN global reaction and becoming a bit frustrated

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<v Speaker 8>as all of his drags on Bloomberg's a security correspondent

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<v Speaker 8>Nick wadhams here.

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<v Speaker 12>What we understand is that the administration is growing more

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<v Speaker 12>and more frustrated with the way that Israel is conducting

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<v Speaker 12>that campaign, and also a feeling, particularly in the Pentagon,

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<v Speaker 12>that Israel is not heeding the advice of the US,

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<v Speaker 12>we should say. At the same time, the US is

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<v Speaker 12>continuing to supply Israel with munitions, armaments, all sorts of

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<v Speaker 12>military equipment, including one hundred and fifty five millimeter artillery shells.

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<v Speaker 8>Which humanitarian groups say are a problem because they're harder

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<v Speaker 8>to control and be precise. And in the US, the

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<v Speaker 8>government funding bill is being hashed out in the Senate.

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<v Speaker 8>A Senate majority leader, Chuck Schumer says he is working

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<v Speaker 8>with a minority leader, Mitch McConnell, and in fact, our

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<v Speaker 8>sources are telling us there's a good chance that there

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<v Speaker 8>could be a vote. Tonight, Global News twenty four hours

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<v Speaker 8>a day and whenever you want it with Bloomberg News

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<v Speaker 8>Now in San Francisco. I'm Ed Baxter, and this is Bloomberg.

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<v Speaker 1>I'm Brian Curtis with Vonnie Quinn. And joining us on

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<v Speaker 1>the show live is Max Bauchus, former US Ambassador to China.

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<v Speaker 1>For a closer look at the meetings between Joe Biden

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<v Speaker 1>and Shi Jen Ping, ambassador. Sometimes you get a lot

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<v Speaker 1>summed up in a line, and in she's opening remarks,

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<v Speaker 1>he said a lot of generic things, but he also

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<v Speaker 1>said that it's unrealistic for one side to remodel the other.

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<v Speaker 1>And I think we know what he's talking about, because

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<v Speaker 1>China's not really trying to remodel the US, but he's

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<v Speaker 1>charging the US with trying to remodel China. And in

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<v Speaker 1>a sense, he's trying to say, look, we're a communist country,

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<v Speaker 1>We're not you.

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<v Speaker 13>I think that's that's right. The Chinese believe that we

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<v Speaker 13>are trying to impose our will on them. That is,

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<v Speaker 13>Chinese think we do not sufficiently respect China as another

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<v Speaker 13>major power, the second largest power in the world. In fact,

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<v Speaker 13>that China believes that the United States is trying to

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<v Speaker 13>stop China's rise. When I talked to Chinese, I say,

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<v Speaker 13>do you think of the United States is trying to

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<v Speaker 13>stop your eyes? And oh my gosh, they've got to

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<v Speaker 13>taking my head off. Of course, the United States is

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<v Speaker 13>trying to stop our rise. So there's a lot of

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<v Speaker 13>tension there.

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<v Speaker 14>Yeah, she said, the world emerged from COVID, but the

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<v Speaker 14>global economy is still under threats and also COVID tremendous impact.

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<v Speaker 4>How much is that weighing on him, Ambassador.

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<v Speaker 13>Quite a bit. Frankly, it's a combination of COVID. The

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<v Speaker 13>Chinese think they did a good job that COVID when

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<v Speaker 13>at first arose by shutting down a lot of operations,

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<v Speaker 13>but it turned out the virus mutated made things much worse,

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<v Speaker 13>and then so bad frankly that there's really deep unrest

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<v Speaker 13>among the Chinese friends I talked to and Shining High

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<v Speaker 13>and so we opened up. So COVID was a huge

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<v Speaker 13>part the problem. On the other hand, because of COVID,

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<v Speaker 13>a lot of Chinese were not working, so they did

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<v Speaker 13>not have income to save, and so when COVID was lifted,

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<v Speaker 13>they didn't have money to spend. And add to that,

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<v Speaker 13>the Chinese government is a bit repressive on private sector.

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<v Speaker 13>And I talked to my Chinese friends over there. I said,

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<v Speaker 13>you think that the private sector has been too suppressed

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<v Speaker 13>and the answer I get, yeah, pretty much. It's going

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<v Speaker 13>to last that way, but we can still do business.

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<v Speaker 1>Ambassador. We understand that there is progress being made, and

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<v Speaker 1>we know from the setup that we're looking for the

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<v Speaker 1>possibility of resumption of military to military talks, a line

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<v Speaker 1>of communication, and also this possible deal on Chinese law

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<v Speaker 1>enforcement cracking down on the product that makes fentanyl being

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<v Speaker 1>shipped off to Mexico. Those those are two pretty dramatic developments,

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<v Speaker 1>But is there anything else that you think that we

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<v Speaker 1>can expect out of this that's quite tangible?

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<v Speaker 13>Not really. Frankly, mil Mill talks are extremely important because

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<v Speaker 13>there could be some untoward events seed a couple of

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<v Speaker 13>ships bump each other, and if there's some line of communication,

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<v Speaker 13>then one or the other could call the other and

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<v Speaker 13>say and explain that that was just an accident. That's

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<v Speaker 13>done the first shot of any kind of military aggression.

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<v Speaker 13>So that's very important. A FEDL is I think extremely

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<v Speaker 13>important for me. That's that's a that's a that's a

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<v Speaker 13>huge possibility. It's a for example, US Congress right now

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<v Speaker 13>is very strongly byparsion is dislike a China. US Congress

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<v Speaker 13>is also a very bi parson attempt to stop fentanyl.

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<v Speaker 13>I mean, it's a it's a big opportunity for China

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<v Speaker 13>to show some good faith crack down on those precursors

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<v Speaker 13>that are being sent over to Mexico. It's a mill

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<v Speaker 13>a bit complicated, but frankly, it's a huge opportunity for

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<v Speaker 13>China is to show some good faith and trying to

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<v Speaker 13>help the Down States to deal with that scourge.

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<v Speaker 1>Could I just ask a follow on that because it's

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<v Speaker 1>the cartels that are heavily involved in that in Mexico.

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<v Speaker 1>Would they be able to get the product the component elsewhere?

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<v Speaker 13>Well, I think not nearly as much. Of course, this

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<v Speaker 13>is APEX, which means Mexico is there too, So the

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<v Speaker 13>administration can talk to Mexico and say, hey, why don't

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<v Speaker 13>you help out shut down cartels China, we think it's

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<v Speaker 13>going to do. It's far it's complicated, but frankly, the

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<v Speaker 13>major supplier of the precursors is China. Now Big Farmer

0:12:21.640 --> 0:12:23.599
<v Speaker 13>has got to be helpful here too, because it's a

0:12:23.640 --> 0:12:28.439
<v Speaker 13>lot of wonderful drugs that are made by American pharmaceutical countries.

0:12:28.559 --> 0:12:31.080
<v Speaker 13>Those precursors are also in China. So it's a bit

0:12:31.120 --> 0:12:33.520
<v Speaker 13>difficult to separate the wheat from the chat. But I

0:12:33.600 --> 0:12:36.520
<v Speaker 13>think it's a huge opportunity for China to show some

0:12:36.640 --> 0:12:40.720
<v Speaker 13>good faith toward America but actually seriously cracking down on fentanyl.

0:12:41.000 --> 0:12:44.560
<v Speaker 14>Master John Kirby earlier told reporters that President Biden will

0:12:44.600 --> 0:12:48.640
<v Speaker 14>make clear that the US doesn't support Taiwan independence and

0:12:48.760 --> 0:12:51.439
<v Speaker 14>that the US doesn't want the status quo changed in

0:12:51.559 --> 0:12:55.679
<v Speaker 14>any kind of unilateral way. Will he say all that

0:12:55.800 --> 0:12:59.360
<v Speaker 14>directly to presidency and will see agree.

0:13:00.040 --> 0:13:03.280
<v Speaker 13>That directly with President she you won't show up, but

0:13:03.559 --> 0:13:06.720
<v Speaker 13>Rolla's eyeballs, he really won't believe it. You know, Chinese

0:13:06.800 --> 0:13:09.640
<v Speaker 13>think that we say we adhere to the One China policy,

0:13:10.000 --> 0:13:12.679
<v Speaker 13>but the Chinese also think we don't follow the One

0:13:12.800 --> 0:13:15.920
<v Speaker 13>China policy. That is, we keep shiping more arms to Taiwan,

0:13:16.040 --> 0:13:18.839
<v Speaker 13>we build up the military in the area, and the

0:13:18.920 --> 0:13:23.880
<v Speaker 13>Congress is not helping that much. So it's a real issue.

0:13:24.280 --> 0:13:27.559
<v Speaker 13>I don't think Americans fully understand that the Taiwan is

0:13:27.679 --> 0:13:32.400
<v Speaker 13>existential to China. It's non negotiable, you know, Chinese as

0:13:32.480 --> 0:13:34.559
<v Speaker 13>part of China in their view. And I think the

0:13:34.640 --> 0:13:38.680
<v Speaker 13>more United States could tempt fate by sending too many

0:13:38.800 --> 0:13:41.280
<v Speaker 13>arms over the war. It's going to cause more problems

0:13:41.320 --> 0:13:43.920
<v Speaker 13>frost agent being and the Hawks in China, and it's

0:13:43.960 --> 0:13:46.000
<v Speaker 13>going to just make the trip wire a little bit

0:13:46.040 --> 0:13:48.760
<v Speaker 13>more sensitive. So I just think it's very important for

0:13:48.840 --> 0:13:51.800
<v Speaker 13>our countries to be careful and we should maintain the

0:13:51.800 --> 0:13:53.760
<v Speaker 13>status quo in Taiwan as much as possible.

0:13:54.320 --> 0:13:57.320
<v Speaker 1>You have to stay away from independence. In the language,

0:13:57.600 --> 0:14:02.040
<v Speaker 1>self determination is a separate issue, and that the issue

0:14:02.320 --> 0:14:07.360
<v Speaker 1>should be resolved by the Chinese and Taiwan people. As

0:14:07.400 --> 0:14:10.000
<v Speaker 1>long as you stick with that, you're probably safe with China.

0:14:10.320 --> 0:14:14.000
<v Speaker 13>That's correct, And as a new development, the opposition parties

0:14:14.440 --> 0:14:17.480
<v Speaker 13>have reached an agreement which strengthens them. So it's very

0:14:17.559 --> 0:14:22.000
<v Speaker 13>possible that the and the elections are coming up the

0:14:22.040 --> 0:14:24.120
<v Speaker 13>first and next year, that the victor is going to

0:14:24.160 --> 0:14:27.200
<v Speaker 13>be a political party which is a little more aligned

0:14:27.200 --> 0:14:29.560
<v Speaker 13>towards China in front of that will reduce some of

0:14:29.600 --> 0:14:32.000
<v Speaker 13>the attention. On the other hand, if the current party

0:14:32.360 --> 0:14:34.640
<v Speaker 13>of CIUN prevails, that's going to tend to add to

0:14:34.680 --> 0:14:37.960
<v Speaker 13>more attention on Taiwan. Because she's very closely to the independence.

0:14:38.000 --> 0:14:41.760
<v Speaker 13>She won't cross the line she gets close a master.

0:14:41.880 --> 0:14:44.800
<v Speaker 14>We also know that various CEOs will be meeting with

0:14:44.960 --> 0:14:48.360
<v Speaker 14>President c Pfizer's CEO has confirmed this to Bloomberg, and

0:14:48.640 --> 0:14:51.560
<v Speaker 14>we have also sources telling us everybody from the Microsoft

0:14:51.640 --> 0:14:53.120
<v Speaker 14>CEO to El Moscow.

0:14:52.800 --> 0:14:53.320
<v Speaker 1>Will be there.

0:14:54.160 --> 0:14:58.040
<v Speaker 14>Obviously, there are areas of discontent Tariff's computer chips, economic

0:14:58.160 --> 0:15:03.160
<v Speaker 14>coercion and so on. Negative sentiment is plaguing China. Can

0:15:03.320 --> 0:15:06.320
<v Speaker 14>presidentcy do something to change this at this meeting?

0:15:07.560 --> 0:15:10.520
<v Speaker 13>It'll certainly try. There are about three hundred four hundred

0:15:10.720 --> 0:15:15.200
<v Speaker 13>businessmen at that dinner tonight, and frankly, he wanted to

0:15:15.280 --> 0:15:17.720
<v Speaker 13>meet with a businessman before he met with President Biden

0:15:18.040 --> 0:15:20.840
<v Speaker 13>White House. He said, no, no, no, no, you meet

0:15:20.880 --> 0:15:23.640
<v Speaker 13>with our president first before you have that dinner. At

0:15:23.680 --> 0:15:26.640
<v Speaker 13>that dinner, you're going to really try. He's going to

0:15:26.680 --> 0:15:30.240
<v Speaker 13>say lots of nice sweet words, and American businessmen will

0:15:30.280 --> 0:15:34.080
<v Speaker 13>really want to leave it. They possibly can, because it's

0:15:34.120 --> 0:15:37.160
<v Speaker 13>such a huge market China, and I think that there's

0:15:37.240 --> 0:15:40.760
<v Speaker 13>a good chance, with all the good talk around this summit,

0:15:41.400 --> 0:15:43.520
<v Speaker 13>with that dinner, it's going to be a little more

0:15:43.560 --> 0:15:45.920
<v Speaker 13>of an effort by US businessmen to think, maybe but

0:15:46.320 --> 0:15:47.640
<v Speaker 13>conducting more business than China.

0:15:47.680 --> 0:15:48.080
<v Speaker 12>After all.

0:15:48.520 --> 0:15:52.880
<v Speaker 1>Ambassator, in one sense, has the horse already bolted the stable.

0:15:53.640 --> 0:15:56.880
<v Speaker 1>Has the mindset changed by a lot of big business

0:15:57.680 --> 0:16:00.400
<v Speaker 1>that there are some things more important than profit. And

0:16:01.040 --> 0:16:04.320
<v Speaker 1>they're now looking beyond China to places like India and

0:16:04.400 --> 0:16:06.360
<v Speaker 1>Indonesia and Southeast Asian such.

0:16:06.600 --> 0:16:10.440
<v Speaker 13>Well, you know, it's everything is complicated. American business is

0:16:10.480 --> 0:16:12.600
<v Speaker 13>starting to hedge its bets a little bit. The big

0:16:12.760 --> 0:16:15.640
<v Speaker 13>enchilada is still is China. It's much more than India,

0:16:15.720 --> 0:16:19.000
<v Speaker 13>Thailand and Vietnam. So they're going to hedge their bets

0:16:19.000 --> 0:16:21.160
<v Speaker 13>a little bit and set up some plants to those

0:16:21.200 --> 0:16:23.520
<v Speaker 13>other countries. But they're going to look as much as

0:16:23.560 --> 0:16:28.600
<v Speaker 13>possible as it can in China. And add to that is,

0:16:29.360 --> 0:16:32.840
<v Speaker 13>you know, American business is also going into China to

0:16:32.920 --> 0:16:35.720
<v Speaker 13>produce for China, that is, for Chinese consumers. A lot

0:16:35.720 --> 0:16:38.680
<v Speaker 13>of American business is also going into China to kind

0:16:38.680 --> 0:16:42.120
<v Speaker 13>of piggyback on China's efforts to do business in other

0:16:42.240 --> 0:16:44.920
<v Speaker 13>Southeast Asian countries. There are lots of opportunities that are

0:16:45.000 --> 0:16:47.640
<v Speaker 13>essentially American bidiness. They're starting to hedge its bets a

0:16:47.640 --> 0:16:50.160
<v Speaker 13>little bit. But don't forget this is it depends on

0:16:50.240 --> 0:16:52.480
<v Speaker 13>the sector. High Tech doesn't do too well in China,

0:16:52.760 --> 0:16:55.920
<v Speaker 13>but rechailed is very well in China. Pharmaceutical industry is

0:16:56.080 --> 0:16:58.880
<v Speaker 13>very well in China. Energy industry does very well in China.

0:16:59.200 --> 0:17:02.200
<v Speaker 1>So it is just toctor ambassador, thank you so much

0:17:02.240 --> 0:17:04.760
<v Speaker 1>for joining us. Love the style, love the blunt talk,

0:17:04.960 --> 0:17:08.600
<v Speaker 1>making sense right here live on Bloomberg Daybreak Asia. We

0:17:08.720 --> 0:17:11.960
<v Speaker 1>appreciate it. Max Bakis the former US Ambassador to China

0:17:12.040 --> 0:17:16.920
<v Speaker 1>again serving from twenty fourteen to twenty seventeen. This is

0:17:17.000 --> 0:17:20.000
<v Speaker 1>Bloomberg Daybreak Asia your morning brief on the stories making

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