Plus, well talk the state of electric vehicles as ev maker vinfast goes public via spac. We speak to the ceo about the deal and studio giants offer a new deal to striking writers in hollywood. Well bring you the latest reporting on that matter. But first, we dig into these markets. We look at here in the us, strong Economic Data over in china, a slowing picture, and we try and marry it all together as well as whats happening in the uk. From a macro perspective perspective, the numbers are so strong here in the us. When you look at retail sales rising, more than expected, what does that mean for a Federal Reserve that has to keep on perhaps pushing back against a very Strong Economy . Were off by half a percentage point. The nasdaq gets hit. In fact, all the major benchmarks here in the United States. On the lower side. Interestingly, though, were buying the dip when it comes to bonds. Weve seen, of course, the yields push higher over the last few days. Notable when were thinking about a fed that perhaps still has its pedal to the metal. We dont see that sell off in bond markets. In fact, we see the buying on the two year and across the curve as in fact we seem to hit yields that seem appetizing. 4. 9 to 4. 93. Lets call it on the two year at the moment. But bring you an Economic Perspective across the pond over in the uk, just a day after we were talking about opening offices there, really strong Wage Inflation at 7. 8 , Record Number for wage growth in the uk. That means could we see an outsized 50 basis point move from the bank of england once again . Thats what some of the particular saxo bank are looking at. Were seeing there for the pound up against the us dollar by 5 10 of a percent. Move it on. Look at whats happening in the world of bitcoin because look, even though were seeing actually some more buying in other altcoins at the moment in terms of volumes rising, were just still at that 29,000 level. We cannot break it when it comes to the og that is bitcoin. And i know you want to drill in to really what is the macro picture of today . Whats happening in china . Yeah, the story is concern about chinas economy. The underperformance is in the us listed shares of Chinese Technology companies. Im looking at the ishares china large cap, the nasdaq Golden Dragon china index, both down in the region of 1. 5 . Chinas Central Bank CutInterest Rates, a key Interest Rate by the most since 2020. There is concern about the consumer and the property market. This is the picture in the moment. We also go to the year to date picture for us. Technology in Public Markets versus china. And theres a reason for this very clear. The nasdaq 100 tech heavy index massively outperforming the hang seng tech, which is the hong kong listed. China tech shares. The story for the nasdaq 100 i giving momentum in investor interest in the tech sector. Year to date, not so much in china. And i say that, carrie, because this week we expect chinas regulators to show their hand on in terms of how they plan to regulate ai in that country. We know about the domestic players. Speaking of those domestic players, lets bring up the calendar for china tech this week. Caroline, talk me through this because its a busy week ahead for earnings out of china. It really is. Weve got already alibaba kind of making us all take a breath last week, seeing them actually outperform. Can that be reiterated . August 16th, we look at tencent thick and fast jd. Com, but also we have the likes of well, of course, baidu, meituan, of course, a key focus of consumer of desire to be purchasing and the ability to spend at this moment when we do see a Chinese Authority thats having to push on the economy, unlike here in the us, where were worrying whether the fed is going to be, of course, raising rates, having to slow down the economy. Were looking at rate cuts in china. Were looking at a macro picture that perhaps could be headwinds for these big Tech Companies. But also though, ed, i think its good that you point out just how far these companies. Yes, theyve underperformed the us, but some of these companies have really added to their market cap since may, for example. This is all about a regulatory overlay. Look, really the way in which we see a changing of the pendulum swing that perhaps well see more support for the tech sector in china. Its always this way in earnings season, no different in china. The expectation is at odds with the backward looking data. So the preview is for tencent and jd both hit the bloomberg terminal this morning. Tencent expected to record fastest pace of Revenue Growth in over a year, fueling hopes that the biggest internet arena in china is rebounding. Jd similar story. Physical goods rebounded last month. Jd is going to be fine. The news overnight and the data doesnt tell us that and its a completely contradictory picture. And i think thats why we want to think about the macro affecting the micro. Lets bring in amy celico albright, Stonebridge Group principal. And weve really sort of discussed it out there a bit, amy, of how oddly and im hearing it from the likes of jp morgan, their view is really we could see big tech outperform the rest of industrials, particularly the Banks Real Estate over in china, because actually the regulatory hurdles are pulling back while macro headwinds are affecting the other sectors. Does that ring true to you . Well, whats ringing true so far is that just how negative the numbers are coming out of beijing . So were due for some some good news, hopefully with the Tech Companies numbers that youre talking about. But lets just talk for a moment about whats just come out overnight. I mean, the latest numbers coming out of china continue to show that high tech manufacturing is down. Overall, exports are down. Consumption is down. Property market sales are down. The government, as you just mentioned, caroline, is reacting by trying to by cutting rates in order to try to stimulate business and consumer lending. But to date, that hasnt happened. Theyve stopped actually tracking youth unemployment rates because those numbers continue to rise. And overall unemployment actually rose a little bit this past month. And so, again, the overall picture is difficult. So we need to see some good numbers coming from the tech sector. Companies. And those numbers need to reinforce that there is potential for those Companies Going into the second half of the year. Amy, here on Bloomberg Technology, we talk about the fed and higher Interest Rates because they discount the present value of future cash flows for the tech sector. Right. Impacting public companies, but also by proxy private companies. Explain to our audience why china cutting Interest Rates would impact chinas Technology Sector or help to support it . Well, chinas Technology Sector, of course, has really been beaten up over the past couple of years because of the Chinese Governments overall rectification campaign. Really looking at the tech sector, not helping it continue to grow, but really overseeing some of the Biggest Companies being taken apart so that the government can control them a little better. However, this year the story is very different. Chinese government looking at the overall Macro Economic picture, recognize that the private sector, the most Innovative Companies in chinas private sector being technology companies, need to have the confidence to continue to grow, to borrow money and continue to invest in the domestic economy so that they can get consumer hours out. Theyre spending using some of those tech platforms and so lowering the rates, what the government did again overnight is meant to really be a signal to Tech Companies and other companies in china to borrow more money to continue to grow. Caroline, this is such a timely conversation because were talking about chinas domestic economy and at the same time, a lot of the news cycle is about its standing in the world and what International Powers are doing vis a vis china. Yeah, were all waiting, of course, for raimondo to go out. Of course, focused on commerce. Weve already had treasury secretary yellen out in china, all amid yet more and more sort of adversarial comments coming from President Biden himself. When it comes to leadership in china. Amy, from that perspective, how do you see the tensions about us or indeed us investors putting money into chinese names . Is this something that they should be reticent of doing at the moment . Well, the Us Government is demonstrating that it does want to restrict some areas of Outbound Investment flows to china. Just last week of course, dropping the long awaited executive order by the Biden Administration in which will which will create a notification system and some restrictions. Again, very narrowly focused even within technology on ai, quantum computing, semiconductor, Us Investment into china, into areas of concern because as the administration sees some Us Investment flows going to help chinas military modernization and it developing its surveillance industry. And so some areas are going to continue to be restricted. However, i do think its important to say that with secretary raimondo on her way after kerry, after yellen, after secretary blinken already visited china, weve invited chinas foreign minister, wang yi, to come to the United States. The two sides are trying to navigate this very difficult relationship. Neither side is willing to say theyre going to let up on Technology Restrictions if they impact national security. Amy, how important a battleground is Artificial Intelligence to china . Oh, its critical. Its absolutely crucial. And so these export export control restrictions, as well as this new Outbound Investment tool to restrict some us flows, are going to be very important for china to look at to see if other countries emulate those Outbound Investment restrictions, specifically in ai, because the Chinese Government doesnt really have the ability yet to be able to domestically produce a lot of the technology, particularly the hardware necessary for many of those ai applications. And so continuing to invite, encourage, supervise these technology in Technology Investment into china is important. So important that the state council just on sunday released new rules that are encouraging Inbound Investment into china in many Technology Sectors. All right. Our thanks to amy celico, principal of dentons global advisors, albright Stonebridge Group, one of the advisors in the china space. Lets stay in the region and think about taiwan. Taiwanese Vice President lai ching dah is seeking to reassure voters that hes a steady set of hands as he campaigns to become the selfgoverned islands next leader. He spoke exclusively to Bloomberg Businessweek in his first interview with International Media to tell us about managing relations with Mainland China and the expansion of chip manufacturer tsmc. Well, he also also with us. We must abide by the truth, which is what i mean by pragmatism. It is that taiwan is already a sovereign, independent country called the republic of china. Its not part of the peoples republic of china. The roc and prc are not subordinate to one another. It is not necessary to declare independence. What is your roadmap to formal independence . You may well. Chenzhuang my responsibility is to maintain the status quo in the Taiwan Strait while protecting taiwan and maintaining democracy, peace and prosperity. So no such framework exists. We must work to maintain the peaceful status quo because taiwan is already a sovereign country. So how confident are you that the us will have taiwans back . Should the situation with china escalate the minguo state, taiwan . The us is a close friend of taiwan. We are partners in a number of areas from politics, the economy, human rights to our society. With taiwan. The and because taiwans security challenges are a global concern for the upkeep of peace and stability in both the Taiwan Strait and the indopacific region, fulfills the common interests of the international community. I believe that all democracies in the world, including the us, would be aware of how to respond, and if such a scenario were to take place, what do you want the world to know about you as a person . Whats the thing . I am a rational and steady leader. I know how we can respond to the challenges we face as a country. I also understand that the serious and complex nature of issues in the Taiwan Strait call for rational and steady leadership. This will enable our country to move forward amid changing geopolitical circumstances as that was indeed taiwanese Vice President. There in a bloomberg exclusive. Now coming up, were going to be joined by tulane vinfast ceo to discuss the electric vehicle makers nasdaq trading debut. Boyd, did it have a pop . Yeah, big focus today on asia tech, actually. Im going to go over to singapore and look at see the tech giants, us adrs dropping the most on record after sales missed estimates. But a really sharp decline, not just in the ecommerce business, but gaming revenue as well, that see limited the singapore tech giant. Its definitely a name weve not spoken about in a while, but my goodness, look at that result. This is Bloomberg Technology. 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Com and get 20 off your first order. Vinfast. Vietnams Largest Electric vehicle maker, saw shares surge in their nasdaq trading debut after merging with spac black spade acquisition. For more, lets bring in li vinfast ceo whos live with us from the nasdaq. An impressive debut after the spac transaction closed. Vinfast had told bloomberg that the purpose of going public via spac was not to raise funds. Madame toy was this just a marketing exercise to get vinfasts name out there . I thank you. We have been working on the us listing for like two years and were very happy that we we made it today. We vinfast has become a publicly listed company in in the us. Its not just a its not a marketing, its just a milestone that we want to achieve as our path to becoming a global company. Madame toy ive covered many electric vehicle makers that have gone public via spac. I wont list them, but not many of them have been successful thus far. Do you need to raise more capital . Are