It seems to be strange. Normally you would suspect season diplomats is who you would turn to if you wanted to deal with one of our most important of powerful adversaries. Instead, right now a lot of the china hands are not in place, and also mr. Trump has a different way of pursuing diplomacy, it seems. Right now, we have had bad blood between the u. S. And china. The president has said a lot of things that have upset china. In a back channel way, his daughter and her husband have been meeting with china test chinese officials. Her husband, jerod kushner, who is a Senior Advisor at the white house has been talking to the Chinese Ambassador, and there was a very public visit between him and his family to the Chinese Ambassador to celebrate chinese new year, and they even had ivankas daughter on line singing a song in mandarin, which was well received in china, as a way to offset the snub sense President Trump did not do a thank you as far as chinese new year. Carroll guilty. I watched it. It came across twitter, and it was actually quite adorable. Oliver trump has obviously taking a hard line in terms of his language about china. It is ironic given all that that there has not been a clear point person, so now there is this opening to take a softer angle, and that is where ivanka comes in. Right, he is using his family members, whether he is doing it or somebody is doing it, using his family to temper his rough spots. It is something we have not seen in a very long time, the dependence on family members to actually sort of jump in and almost be players. Oliver lets talk about Andrew Puzder, the focus of the cover story and a great feature piece about what we can learn about what he will do based on his own corporate experience. Andrew puzder is a very interesting guy, in the sense he is like donald trump in a way. He is outspoken. He is a person who believes in his own counsel and says a lot of things often, even in the business world, that people would consider to be not pc. This is a man who runs a company that basically sells to the dude market. He is famous for selling burgers with women who are very attractive helping to sell burgers. This is a man who told entrepreneur magazine that he really likes women in bikinis selling burgers. He says it is the american way, and so he is a person who feels comfortable talking about his own beliefs, which tend to be conservative and very proentrepreneur and a lot less at least this of the proworker, which is odd because he will be the head of the department of labor, which in past administrations has been the point guide to stand up for the little guy. Carol we heard about Andrew Puzder and some of the issues at his restaurants. Since 2005, they have employed a very successful in some regard strategy of very beautiful, buxom is that the right word . Anyway, women in bikinis eating their burgers, and it has, it was designed to appeal to young men. They consider their audience young, hungry guys. Obviously a lot of criticism from women for being raunchy, even from franchisees for being inappropriate for the market. Carol who is the guy behind the strategy . Andrew puzder, now nominated to be the head of the department of labor, and he has run the Company Since 2000. He was a former lawyer. He came in when carls jr. Was predominantly in california. They had just bought hardees, so he gets credit for turning it around and getting momentum going, but they have done it on the backs of these women. They have also recently decided it is a strategy that is not working as well, and they are switching to something more wholesome. Carol i think what is important is that he has been nominated to be secretary of the department of labor, so we want to look at how he ran his company, what were his labor practices, employment practices, because some of them were questionable. And what that means for him potentially running this vast agency, and for the 125 Million People that the Agency Directly affects, so the fast Food Industry over all has a pretty bad record when it comes to wages, sexual harassment, even racial discrimination. That is industrywide, so there is a question, should somebody from that industry be selected to represent workers interests. If you look at his two companies in particular, there are violations for sure, and when you read about them, it is dispiriting, people getting their paychecks cut without knowing, not paying for what they earned basically. There are cases of racial discrimination, sexual harassment, they had at least six cases in front of the equal opportunity commission, and then regular department of labor violations like almost every restaurant, and by our measure, actually they are not the worst. They are among the best, but the overall industry is the one the department of labor has targeted over the past couple of years precisely because there are so many violations generally. He has kind of casually denigrated his own workers over the years and conversations. It has come out recently that he called them the best of the worst. He has talked about, as a lot of fast food executives have, about automation, but then he takes it further. You could say maybe we will need some selfservice kiosks, but then he goes on to say it will be great because they wont sue and they wont complain and they always smile. Carol turning Andrew Puzder into a cover model was the job of creative director rob vargas. Rob we were thinking of a fresh way to announce that there are concerns over his qualifications, and so we came up with this simple question and answer game where the answer is obvious. The question is is trumps nominee for labor Andrew Pozner yet another reason for American Workers to worry . Oliver tell us about the international cover. There is another story here. Rob four a more global audience, we thought we would have the exclusive interview with the ceo of ge, so we ran a large photo and one of the quotes were he talks about potentially being at a trade war with china. Oliver so a huge company, multinational, something that applies to everyone. Rob definitely. Oliver up next, the republican lawmakers that one of put a restriction on dissent. Carol the power grab in turkey and what it means for the future of the country. Oliver that is up next on Bloomberg Businessweek. Carol welcome back to Bloomberg Businessweek. I am carol massar. Oliver i am oliver renick. Carol a new trend in statehouses across the united states. Oliver republicans are devising laws to regulate public dissent. We talked with matt phillips. Matt we have 10 bills and states, legislators across the country, washington, missouri, michigan, north carolina, basically trying to get their arms around how they can legally reduce the impact of these protests, whether that is by loosening what determines whether somebody can be arrested, whether that is imposing costs on people who are arrested who do Property Damage, that kind of thing. The First Amendment gives people the right to peaceably assemble, right . So this is a question that is being posed and a lot of these, whether shutting down traffic and highways in missouri for example, peaceably, constitutes peaceably assembling or doing Property Damage for example in business districts. That is what they are trying to get their arms around. Carol it is that specific . Traffic problems . It is interesting the kind of bills coming down. Matt for example, in missouri, by the way, these are all bills, proposed bills. In missouri for example, ferguson, after the Michael Brown shooting incurred 5 million of Property Damage. You cannot disguise yourself as a protester, whether that is wearing a robe, a mask, or even a gas mask to protect yourself from say pepper spray. That is how specific they are getting. It is a proposal. In north dakota, where we have seen thousands of people protests the Dakota Access pipeline and block roads, there is a proposal out there now that says you cannot be held liable if you run somebody over in the road who it is blocking traffic. Oliver obviously you dont want disruptions to the economy. There is a concern this is a way to prevent protests in general to mute the protests. Who is behind the bills and doing know anything about their political agendas . They are all republican bills. The political agenda, this was something happening before donald trump got elected. The ferguson thing was 2014, so he has only added fuel to the fire, and in the cases of a lot of the state houses where they are incurring costs, whether deploying police for example or Property Damage, they are trying to find a way to get their arms around this and find a legal way to tamp down on this. We get to the language of peaceful assemble. There is nothing they can do to infringe on your First Amendment rights to be peaceful about this, but as we have seen unfortunately and a lot of these instances, in north dakota, a lot of people hurt, equipment damaged and set on fire, does that constitute peaceful assembly. A lot of lawmakers would say no, so they are trying to craft legal frameworks to crack down on that. Oliver turkeys president is consolidating power and rewriting turkey politics. President erdogan has been trying to get the constitution change so that all executive powers will be in the hands of the president. At the moment, it is a parliamentary republic, so now the post of Prime Minister would be abolished and all the powers of the government would go to the president. The president would also get more power to appoint judges to the Supreme Court and so on, so it is immensely important. One thing that his supporters say is that look, he has already assumed these powers. Normally the turkish president is a ceremonial figure with limited powers, but in this case, president erdogan has had a difficult time since he took over president , and he has assumed a lot of those powers. This will form allies it, but most critics are justified to say what they are going to do is formalize or legitimize powers that he should not have seized, and there are good reasons why those powers should have been separated. Oliver how has the role of these terrorist attacks within turkey recently, turkeys involvement in the syrian war, and this backlash it has had with some of these extremist groups infiltrating the country and taking a role in the country, is that something the people think president erdogan needs that power to better control it . Or is that more the issue that is taken up, that western culture should push that out . Look, there are again two different views of what happened here. His supporters will say the only path for turkey is to consolidate power into president erdogans hands, have efficient decisionmaking so they can deal with these threats. The alternative view is that a lot of these problems are of president erdogans own making. For example, when it comes to the pkk terrorist threat, that is a military campaign that the turks had to fight for tens of years and quieted down, largely because of president erdogan. He helped to get a ceasefire with the pkk, but then the akp lost an election and he called early elections to revote, and in between that, the war started up again and repolarized the vote so he was able to win a second time. Carol we know not everyone is on board. We cant forget the july military coup. The other thing president erdogan has to think about is that the economy had been doing well in turkey, but not so much anymore comes that my proof problematic for him. Yes, a number of people i spoke to said the reason they want to get this referendum through quickly, april is now the likely date, but they want it quickly because the economy is deteriorating. In the Third Quarter last year, growth was negative. It was only a couple of years ago that turkey was growing at 10 or so a year, so there has been a sharp slowdown. It has not really hit unemployment figures, hasnt really hit people hard yet, but if it continues, it will, and so one of the rationals about why they need this referendum quickly is that he is afraid he will lose support. Getting 51 of people to vote for a referendum in his favor is difficult. Carol up next, will brokers be required to put their customers first under the Trump Administration . Oliver why it may not be easy to roll back all of the regulations that donald trump wants. Carol this is Bloomberg Businessweek. Oliver welcome back to Bloomberg Businessweek. I am oliver renick. Carol i am carol massar. You can also listen to us on radio. Oliver and in london and in asia on the Bloomberg Radio plus app. In the markets and finance section, President Trump has instructed the Labor Department to reconsider the fiduciary rule. Carol it requires Financial Advisors to put their clients interests first. The fiduciary rule would require Financial Advisors who handle retirement accounts, iras, 401 k s, to put their clients interests first. It also gives clients and investors, makes it easier to sue Financial Firms where they are not being treated properly. Carol what does that mean coming first . There is a whole class of advisors out there now who, they are more like salespeople, where they have an incentive to steer you into particular products, house products, sold by their insurance company, higher yield type stuff. Lower liquidity to lock up your money in a variable annuity that are very expensive and consumer experts have been railing against for years. You find people to buy them, put people in these products, and as long as that product is suitable, it is ok. The new rules make it stricter and advisers have a higher bar to prove that this product is in the best interests of clients. Oliver because Financial Advisers expected this rule to come down the pipeline, a lot of them are taking steps to adhere to it. At the same time, there is this side effect that for some of the smaller managers and smaller clients that they work with, for them, they might start rethinking if they do have to abide by this rule, whether it is worth dealing with those types of clients . Yeah, jp morgan, bank of america, they have already made moves and there is no sign theyre pulling back on compliance with this rule. Some smaller firms are waiting and watching for what the Trump Administration does here. The rule is supposed to go in effect in april, so it is a question of what happens to the regulation. Carol you have come up with three questions to ask for an investor to make sure that they are indeed putting the investors interests first. The first thing they can ask is are you required legally to put my interests first. The second is to ask how are you being paid. What is the way that i am paying for your time to sit in front of me and give me this advice . And the final one is, what are the fees . Look at the fees in the documents you have, especially expense ratios, very important. Carol because 1 or 2 of an investment portfolio adds up after time. If you are saving for retirement and you have decades to go, that 1 fee year after year can have an impact. Carol President Trump wants federal agencies to reduce unnecessary regulation. Oliver that could be more difficult than it seems. Here is brenden greeley. Brenden the u. K. Has tried, germany is working on one, the netherlands as well was so there is some precedent for this. It is not completely clear from the executive order and the clarifying memo from omd, whether we are looking at total costs, to be kept at net zero, or whether we are looking at just a number of regulations. It looks like both. That is complex and hard to do and not in keeping with the things other countries have done. The biggest changes basically threw a lot of complicated language, this executive order says focus on the costs. The benefits are there but they may be irrelevant. Carol you also put in your article that you talk about when it comes to calculating costs and benefits, we do a fairly good job. The united states. Brenden we do. One expert produce this mammoth study on how this stuff is done for the european union. He said in terms of looking at individual regulations, the u. S. Is better than any other country at figuring out both costs and benefits. Where we are weaker is looking at the entire system of regulations and how they work together. I thought this was fascinating and it did not make it into the article, but we are not very good at geographic distribution. We look at the big regulatory question right now, it is the streams order that affects the coal industry. That has tremendous impact for a small number of people in coal producing regions, and a very diffuse benefit for other people who want better stream and water quality, and so one of the things we arent good at modeling that we need to work on this is a lot like trade, we dont really have a way of quantifying this is the region where the consequences of this regulation or felt, and then we all as americans guess the benefit, so that is one of the drawbacks. Oliver up next, why dont trump should be rooting for limited wage growth. Carol software that could help the Police Tracked down serial killers. Oliver that is ahead on Bloomberg Businessweek. [ alarm clock beeping ] weather. [ laughter ] cartoons. Wait for it. [ cat screech ] [ laughter ] [ screaming ] [ laughter ] make everyday awesome with the power of xfinity x1. Hi grandma and the fastest internet. [ girl screaming ] [ laughter ] ive spent my life planting a sizesix, nonslip shoe into that door. On this side, i want my customers to relax and enjoy themselves. But these days its phones before fork