He suffered kidney failure and died at home. Global news 24 hours a day, powered by 2600 journalists and analysts in over 120 countries. I am Alisa Parenti and this is bloomberg. I am caroline hyde, this is Bloomberg Technology. A highstakes meeting. President xi jinping arrives in florida for a meeting with president donald tron. Two issues. He top s ideas are more than just a pipe dream. And getting its own round of funding. What investors plan to use. President xilead, jinping has arrived to meet President Trump in maralago, florida. Trump had blamed china for stealing american jobs. But the two countries remain reliant on each other. More than half of u. S. Computer product imports come from china. Billion inan 220 Chinese Investments are at stake if a trade war did break out. For more on what is expected from the meeting, lets go to Ramy Inocencio and palm beach florida. What are the top issues for the summit . It strikes me as really interesting that this billionaire businessman and novice politician is meeting someone quite the opposite, a very seasoned politician now pushing back against luxury in china. What ties them is money and that is what we must be talking about. On the campaign trail, donald trump has been saying china has been stealing american jobs and taking them to china. Another interesting topic is currency manipulation. China has been trying to figure out where it stands in terms of the u. N. The u. S. And donald trump has said it is potentially a currency manipulator. Interestingly, former treasury secretary weighed in earlier lets take a listen. For the last year, china has been intervening to prevent the devaluation and support that renminbi. That makes it difficult to look at the Current Situation and reach a conclusion that there is currency manipulation. There is a transition underway from a managed Exchange Rate to a more marketoriented Exchange Rate. But it is not a p are marketoriented Exchange Rate. The interactions are in the opposite direction from what you look at in terms of measuring manipulation. Mr. Lew isything, saying china is a strengthening the u. N. , as opposed to weakening it. It has been trading at it about yuanr to the dollar to the dollar. In 2016, 300 47 billion was the amount of money the u. S. Saw in terms of the deficit. Donald trump has been saying that has been unfair, his words, and that he is going to do something about it. We will be looking at jobs, currency, and trade. Caroline i want to dig into trade. Itave my favorite function, is amazing to show how much trade goes on between china and the u. S. Number one trading partners, of 1 million the tech world waits. Anything to come from this two a meeting day meeting . Toy it will be interesting see what happens when they have substantive talks on friday. One thing i am looking at his aviation, especially over the past few years when donald trump and past president s have come in, they have talked about potential deals with boeing. A couple years ago they did sign a 1 billion deal, saying they could bring a lot of boeing planes to china as that country does expand. We will have to see if anything does come from that. A lot of analysts are saying that if mr. Xi jinping convinces donald trump not to carry on thatcampaign rhetoric, would already be a win for china. Looking ahead to the next hour or so, donald trump and xi jinping and their wives will be out to dinner. They will be getting to know each other, it is the first time they do a facetoface. Tomorrow will be more substantive talks. Caroline thank you very much, live a from palm beach. Our next guest says the different market relationships between president xi and trump is the most important in the world. Lindsey ford is a director at the Asian Society and joins us from washington. It is amazing, the significance of that relationship. I am going to the bloomberg terminal, looking at a graph u. S. Total trade in china, 17 percent of all world trade is coming from china. This is crucial. Why is it worrying that trump is so tough on trade . Lindsey what is interesting, you heard very tougher rhetoric coming out around trade during the campaign but there does appear to be two different camps within the Trump Administration. Certain folks within the administration, his soninlaw jared kushner, perhaps secretary of state rex tillerson, who come from a business background and have a much more pragmatic and businessoriented approach. In,e they are interested how can we create jobs, how can we build the economy . They recognize that involves doing trade in business with china. There is a different camp. What you saw on the campaign trail, folks like Peter Navarro that have been clear that fair trade with china is not fair for america. See. Ll be interesting to is the Trump Administration able to find a middle ground . Are they gearing more toward one or the other . And do they have a more coherent approach to what their economic and trade policy will be with regards to china . I will give our viewers a chance to check in on is thenificance, 17 reliance of the United States on the chinese. You can get this on the bloomberg. Is amazing, certain technology industries, we have to focus on that. Wilbur ross has commented, he is worried about china. Nontech industries are set to benefit from this meeting. May be on the auto and agricultural front. Will there be concessions on both sides of the equation . Lindsey i am not sure how much you are actually going to see real deliverables from this meeting. More than anything, you will see both leaders tried to lay the foundation, set the baseline. What theirake clear priorities are, the industries they care about, where they would like to see things done. And for the Trump Administration, where they would like to see china set a more level playing field. What they are aiming for is to lay a foundation and we will see more concretely what comes out of that in the months ahead. Caroline part of that foundation, is talking about the Asian Infrastructure banks. Do you think that could benefit the relationship with the u. S. To china and other key hubs in the area . From a tech perspective, singapore, taiwan, what does that look like . Lindsey infrastructure is a huge priority in asia right now. There is a recognition that this president has talked a lot about his desire to see infrastructure and investment in the United States. Perhaps infrastructure is an area where this administration can find common cause and Common Ground with governments in the region. There would be great interest not just in china but other countries in the region, looking at how the United States can play a greater role cooperatively on infrastructure. Whether that means the United States joins the group, a gets beyond to broader, strategic issues. ,here will be a push on this and i suspected they will consider it. Caroline may be the quid pro quo, tentatively, china can invest more in u. S. Infrastructure. We are already seeing chinese money flow into the united snapes, such as lyft and taking money from chinese companies. What is the money flow between china and the u. S. And how much is at risk . It is tremendously important. When you talk about start of industries in tech investments, it is interesting to watch in the coming months and years, there will be in some camps in the United States a closer eye on these types of investments in industries that some people in the United States consider sensitive. It is getting them into u. S. Technology. I think that will be a doubleedged sword. On the one hand, there are Companies Reaping the benefits of widespread Chinese Investment and money they cannot get elsewhere. Bethe other hand, there will a greater sensitivity to where and how the chinese are investing. Caroline westinghouse comes to mind. Lindsey ford, wonderful to have you joining us today. Three stocks were watching. Evan williams is selling some of his 5. 5 stake in twitter. Said it pains me to be selling it at this point. But this is about personal context, not company context. The Company Continues to struggle with user growth. Transit visit through tunnels faster than highspeed rails at 2 3 the cost. Hyperloop one gives us an update of how it will bring the idea to life in the u. S. This is bloomberg. Caroline Hyperloop One is in washington, trying to win policy support from investors. It is one of two company is trying to turn elon musks brainchild into a reality. Announcedyperloop one it has finished installing the tube on its test rack. A key step to see if it works. The company also proposed 11 routes across the United States. Us aboutpoke to specific plans in the u. S. This is American Made reputation is our innovating across big transitions, world leading. But in the area of ground transportation, there is no real american technology. As an labased company that has grown from a garage and building toward 500 employees this year, 260 in less than 27 months, we are demonstrating that we can really build Something Different by bringing the brightest minds together, providing them with capital and tools required to make this happen. The answer to your question is, we can do this in the United States if we collaborate with governments and work in support and get support from regulators so we can dovetail with existing transportation programs and write a few new rules for hyperloop. Those two things are the conversations were having here as well on capitol hill. Caroline three winners, what happens to them . Do those start to break ground, do you want hyperloop beginning to work by 2021 . We have 35 at semifinalist, 11 are from the United States that we launched today. We will bring that down to about a dozen and we have to do more work. We need Detailed Engineering studies in the next level of specific route analysis and economic analysis. This to transform economies and drive Economic Growth and advantage. There was more work to do with those 12 finals. What we do want to do is find governments that are supportive, work with a route that make sense to build that first system. We will finance that i continue isdwell over values our team bringing in working with regulators and governments, and designing technologies to solve realworld transportation problems. We will try as we go to 12 finalists and down to the final three, to pick a route that makes sense, can be finance, and bill quickly. Get usll give us to to 2021 and we are encouraged and hopeful that one are two of those will be in the u. S. Caroline how close is the technology . You said you are finishing the tube installation of 500 meters. Lengthsre talking about of roots up to 5000 miles. How can you prove it works . Is the guiding mission inside this young company, to build a fullscale prototype. About this forever and the advantages of the technology, but we are near completion of a fullscale prototype. Shows all the innovations we have developed since the Country Company was founded. A propulsion system, a tube that allows us to remove resistance. It can control they can carry cargo or people and manage highfrequency pods. We will accelerate quickly inside that 500 meters. That is not what you and i will experience as we move to a productionbased system. But i will be transparent, this is a full scale architectural system. Taking that architecture, deploying it in a production environment, is only the next step. We are very excited that within the next couple months we will show the world that hyperloop israel and we are getting really close and were pretty excited that that has been the single most important milestone for our Country Company. Caroline what about the northeast corridor . Rob the beauty of hyperloop is that we require much less land. On anr were above grade expanded rail rightofway or beneath in a tunnel, because of the combination of factors in our architecture, by reducing pressure, you reduce the size of the tunnel. They could come into a city center. I will be very transparent. We need land, we could be 2 3 the time of regular rail, we can be three times as fast. We can deliver to do three times the economic benefit of any other mode of transportation. That is on the efficiency of the economy, the ability to create very large labor pulls between Different Centers in major cities. Where other places modes of transportation find it difficult. Northeast corridor is one where hyperloop will make sense and we have work to do there. We also had a chance to catch up with the companys chairman to ask about how this project is being funded. Funding 160 million in and our 2. 5 year history of the founding. We talk about this ability to do moon shots and build something ofm an idea in the deserts nevada a reality is pretty spectacular. Investors, present and future, to be a part of what we are building. It is going well and we will have more to say in the near future. Caroline such exciting projects as these are not without controversy. One has been the lawsuits between you and the original cofounder. How has that dented the ability to raise money . Shervin we are going from strength to strength. 250 people, incredible talent. , everythinging this is looking really great. There has not been any slowdown in our progress to make hyperloop a reality. Caroline that was Hyperloop One executive chairman. Coming up, we will hear from the man behind the ebay of latin america. Say abouts to competing with amazon. This is bloomberg. Someine in buenos aires, of the countrys biggest countries are in attendance. Mercadolibre was there to protect its market share from amazon. We caught up with them about their strategic priorities. We have a huge opportunity in payments and financing. We have created a large platform in latin america. Last year we had 20 billion buyers and eight billionlast yee sellers. [no audio] in argentina and brazil. We are doing well. Caroline spotify is planning on going public this year. Willigital Music Company not go to the traditional ipo route. They are considering a direct listing. Spotify could register shares on a public exchange. Spotify is targeting a 10 billion valuation. Shares could be listed as early as september. The largest cable operator in offering comcast, unlimited data on verizons network. Escalate a price war in the mobile phone business. We sit start up down with the ceo. I am Alisa Parenti and you are watching Bloomberg Technology. Arrived injinping florida to talk with President Trump at his maralago resort. Himthreat of north koreas over trader on the agenda for the first in person meeting for the leaders of the two largest economies. The u. N. Is strongly condemning north koreas latest month latest missile test. A Statement Released today by the council expressed concern over flagrant and provocative defiance of the security council. Russian security agents arrested three people today with suspected links to the suicide bomber accused in mondays deadly subway attack. They also diffused an explosive device in the same apartment where those suspects lived. Hollande israncois a campaigning for a tougher, more united europe. He warned that a frexit would lead to chaos. Global news 24 hours a day, powered by 2600 journalists and analysts in over 120 countries. I am Alisa Parenti and this is bloomberg. It is just after 5 30 p. M. In new york. I am joined by bloombergs paul allen with a look at the markets. Good morning. Good morning, we expecting 1 . Afx to rise 1 3 of nikkei futures looking mixed. It is worth keeping an eye on the Convenience Store operator. Results overnight forecasting operating profit to rise 6 to 3. 5 billion in the coming financial year. We will be seeing more of them in the United States. They will buy shops and gas stations in the u. S. For 3. 3 billion. So that is a stock to watch in japan when treating it underway. Korea keeping an eye on the samsung electronics. Preliminary operating profits for the First Quarter is due very soon. No lines dropping just yet. But jay y. Lee, the de facto head of samsung, is due to appear in court today in connection with the influence scandal in south korea that has taken down former President Park geunhye. Those are just some of the stories to watch in the Asian Pacific today. More from Bloomberg Technology next. Caroline this is Bloomberg Technology, i caroline hyde. The meeting between President Trump and president xi underway. It is the first test of promises toumps win negotiations from the worlds secondlargest economy. Lets check where asia stands from a market perspective. Up inust capped off a 20 the tech stocks. In reporter Abigail Doolittle in new york to break it down for us on the asian perspective. It has they it has been a tremendous First Quarter for chinese equities. Tos hop into the bloomberg look at this chart. It puts the gains you showed in perspective. China we do have the msci in