Republicans and rankandfile members on capitol hill. Early this morning i was communicating with senior staffers in congress who are part of the socalled negotiations. They were perplexed about the president social media posting yesterday calling off the stimulus deal. Meanwhile Mitch Mcconnell reportedly saying he feels Speaker Pelosi has been disingenuous in terms of the piecemeal budget approach, calling for there to be more immediate stimulus. President trump says they would like to get more of a piecemeal approach, but it is unclear whether or not that will happen. David one thing that is clear is we will have a Vice President ial debate tonight. Is it going to be all about covid19 as a practical matter . Kevin that will likely be one of the 910 minute segments debate moderator susan page will likely discuss. She has not disclose the topic of the debate publicly or to either of the campaign. Meanwhile, the candidates as well as the moderater will be standing 12 feet three inches apart, and extension of three feet. This as negotiations between the various campaigns and the debate commission. Another difference between last weeks debate in ohio is all audience members will be required to wear masks. There were some in the audience last week who did not wear masks , but it goes to show the heightened awareness around covid19 given the outbreak we have seen at the white house. David we are looking forward to seeing you tonight. Thanks to Kevin Cirilli who will be joining us tonight for our special coverage of the Vice President ial debate at 8 30 eastern. For more on the stimulus bill and whether it is truly dead we welcome congressman french hill, republican from arkansas. Thank you for being with us. Are we going to get some form of stimulus or not . Hill great to be with you and hear kevins reporting from salt lake. Heres the story from my point of view. After nancy pelosi dragging her feet on trying to reach a middle ground in additional covid relief, i think the president snapped, sort of like Charlie Brown did when lucy once again pulled the ball away to kick a field goal and he fell flat on his back. I think the president was showing his frustration yesterday. I do not think you should walk away from the table. It is his focused approach with ms. Mcconnell on extending the Paycheck Protection Program, resolving the unemployment complication issue, to terminate their support in the senate for additional airline support, and making sure we have whatever public expenses covered. These are essential to reopening our economy. I was glad to see the president reverse course, focus on these narrow goals the republicans have had in congress. By the way, we have 23 democrats who wrote the speaker last week saying her approach was wrong, her strategy was wrong, and she needed to go for a more narrow proposal. David is that going to require nancy pelosi to cave if i can use that expression . She has been adamant in saying i do not want to take this piecemeal, i do not want to take off some of these problems, we have other problems. Rep. Hill here is my view. She can spin it any way she wants to. She is the master of the beltway spin job. My review is lets fix these things we have agreed upon in the house and senate. It is a more narrow number. She wanted to spend 3. 5 chile dollars, then she moved it to 2. 5 trillion. The senators are under 1 trillion and the president is around 1 trillion. If we need to do more we can do more after the election or the new year. This Paycheck Protection Program you have covered so diligently , in the last few months resolving the employment uncertainty, and in these issues, more flexibility for our governors, these help americans today. It can be done with consensus. Guy we have david we have a pandemic, the need to pull out of recession, an election at the same time. Tells about your constituents. Are they blaming republicans, democrats, or are they saying a pox on both of your houses, we need help and your dithering . Rep. Hill i think they are in the latter camp. They want both houses to come together and fix these narrow topics, the grounds on which there is consensus between the democrats and republicans. The economy is reopening. Our tax revenues in july were up 15 in arkansas. We see people going back to work. These are good things. There are narrow tailored things we should do to keep the economic recovery moving in the right direction and i think jay powell made that clear when he spoke in the er conference this week talking about these important compromise issues. Guy david exactly right. He said the danger is doing too little. At the same time, we now have covid19 front and center with the news about the president. Someday people at the white house. We are seeing it back up. How concerned are you that will hurt our economy once again . Rep. Hill i think what we have learned, if we knew in february and march what we know today, we would have managed this disease and the economy very differently. We would have recognized that we can treat this disease, we can prevent this disease by following these easy standards, and we can slow the infection rates. Following the cdc standards. End disease will probably up with no higher mortality than the flu. Some of the fear issues could be brought down over time. We have to learn to live with the virus, manage the virus as we get these therapeutics more in line and get the hope of a vaccine early in 2021. That is my view. I think americans have to recognize that fact, whether it is school, work, or travel. David s progress in a position to act on stimulus . Congress in a position to act on stimulus at this point . Rep. Hill 100 . Steny hoyer said we will give you 24 hours notice to get you back to washington and vote on a bill president could sign into law. That is why the senate, in my view, the senate can get a deal passed and they can work in the Judiciary Committee on a nomination. We can do more than one thing at a time. David thank you so much. That is republic and representative from arkansas french hill. Im happy to say nancy pelosi will join us tomorrow on balance of power at 12 00 with her take on where the stimulus tops are. Now it is time for a check on the markets with abigail doolittle. Where are we . Coming back from yesterday . Abigail we certainly are. Never a dull day. Yesterday President Trump had tweeted out the idea of ending a big stimulus package. At that the s p 500 dropped about 2 . However, if the markets were really concerned stimulus is off the table, we probably would have seen a bigger selloff, suggesting some folks mightve thought it was a negotiating tactic. Today we have markets bouncing slightly higher. Theets up 1. 3 percent on possibility of these skinny targeted stimulus deals. We also have bonds trading lower , supporting the idea we have a risk on tone. Jittery markets reacting to every headline. As a bit of noise, keeping in mind the longer term trend. Story that is interesting to keep in mind, helping markets recover. Prior to President Trumps tweet in the afternoon that did sink markets, at least yesterday afternoon, we had tech stocks weak on the day and after the close the house did put out a 400 plus page report recommending the breakup of big tech. Tech names had weighed on the market. Today we are seeing a bit of a bounceback. Apple and amazon are trading higher. Alphabet and facebook down just a bit. That is another story to keep in mind as just one of the many pieces of the puzzle, all this uncertainty going with markets, up, down, up, down. For now we have a fairly risk on day. David the markets are jittery. Im not sure is only the markets. Coming up, we continue our swing state look at michigan with its secretary of state jocelyn benson. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. This week we are taking a look at the state of michigan as part of our swing state series leading up to the election. We welcome the secretary of state from michigan, jocelyn benson. Thank you for joining us. We have going through the states understanding the voting process. It is different in the middle of a pandemic. A lot of absentee ballots. What are you anticipating . Sec. Benson we are anticipating recordbreaking turnout. Im expecting more citizens to vote in michigan than ever in our states history, and more citizens have already voted or are voting by mail than ever before. David to take us through that, we talk to your counterpart in ohio and they said they have absentee ballots as well as voting on the day. What does michigan provide for voters . Sec. Benson that same structure. Citizens have three options. They can vote from home, they can vote early, or they can vote election day. They have multiple ways to return their ballots if they vote from home or pick up their ballot, and importantly we have installed secure drop boxes across the state to give citizens the opportunity to vote from home and return their ballot at their convenience. David we have heard a lot of litigation about the conditions rounding the absentee ballots. What are the formalities in michigan . What you need to do to have the absentee ballots counted . Sec. Benson you have to sign the envelope in which the ballot is placed. That signature does not have to be notarized, but it does have to be legible and match the signature we have on file. Importantly, the governor signed into law legislation that will require voters, if there is eva ballot in an envelope, missing a signature that does not match, to give the voter the opportunity to identify themselves and ensure no valid ballot is not counted, and find irregularities if they occur. David went as the ballot have to be in the possession of election official when does the ballot have to be in possession of Election Officials . Sec. Benson 8 00 p. M. On election day is our standard. There is litigation trying to figure out whether ballots sent prior to election day but received after should be counted , but im advising every voter to get their ballot in as soon as possible. We have installed over 1000 drop boxes. If citizens have their ballot in local drop boxes by 8 00 on election day, it will count. David we have seen litigation around the country, a Record Number of challenges. How are you doing in michigan . Sec. Benson i became an election law attorney 20 years ago, and since then we have seen an exponential increase around election day. To be a secretary of state with more litigation than before, it has become, there some credible allegation, a lot of it has become frivolous. A way to create uncertainty at a time when we need to be communicating to voters what the rules are to ensure their ballots are counted. David looking back to 2000, the Supreme Court invoked a federal constitution, some people thought took it away from florida. Do you think the questions, particularly involving michigan, will be resolved at the state level or will they end up at the federal level . Sec. Benson i think the voters in the state of michigan will determine every outcome in the state of michigan. That is my focus and my goal and our clerks goal and im confident that will be the ultimate result. David what kind of delays are we looking at . When you get that Record Number of votes, they can come in as late as 8 00 that night. Obviously you not counting them all in advance. Sec. Benson we are not allowed to. Clerks cannot begin tabulating ballots put voted absentee until 7 00 a. M. On election day. It is not possible for any infrastructure to be prepared to methodically tabulate all of those ballots in 12 hours. It will take time. It is ensuring accurate results and we will be updating the public every step of the way so citizens know exactly when they can expect the results from michigan. They will come that week, but they may not come until friday. People need to know that is a reflection of the process working. David you said you are expecting a record turnout. We talked your counterpart in ohio last week and he said yet a friendly back with you. This is part of what he had to say . I am sorry, we do not have it, he said it was a friendly back we will have a better turnout in ohio than in michigan and made some derogatory comments about my Football Team, the michigan wolverines. I will leave those to one side. Will you beat him and that back . Sec. Benson yes. He can say whatever he wants, but when michigan has higher turnout he will have to sing the ohio fight song at the Ohio State Football Team in the horseshoe and im looking forward to that and expecting every michigan voter to ensure that happens by voting this year. David are you concerned about the security of those drop boxes . Sec. Benson we are noting not just the actual security but efforts to undermine citizens faith in the security process by putting out misinformation, which we have had to deal with in michigan. We have protocols in place to ensure our drop boxes are secure , they are monitored and there is surveillance and every day people are removing the ballot from those drop boxes to ensure no ballots are left overnight. I am confident citizens can trust if they use their local drop box to return their ballot it will be counted. David it might be a late night for you november 3. Are you bringing extra people . What are you doing to make sure you have this all prepared . Sec. Benson we are. Noting in the spring when the pandemic hit, we were going to hit a more urgent shortage of poll workers than ever before. Recruited close to 30,000 new election workers in michigan. That is an extraordinary number that ensures we are ready to go and our precinct will be opened and fully staffed, as well as her absentee counting board to make sure the process runs as smoothly and efficiently as possible. David appreciate your time, madam secretary. Democratic secretary of state from michigan, jocelyn benson. We will have a special look at some of the swing states covered in our series, arizona, north carolina, and ohio. It will air friday evening at 9 30 p. M. Eastern time. We turn to Mark Crumpton for bloomberg first word news. Mark mike pence and Kamala Harris are set to face off in a debate in salt lake city. Ahead of the faceoff senator says she hasaign tested negative for covid19. Vice president pence is doctors say he has also tested negative. Both will participate in a 90 minute debate separated by 12 feet of space in the plexiglass shield. Neither they nor the moderator will wear masks. Tune into her special coverage of the Vice President ial debate tonight on Bloomberg Television and Bloomberg Radio at 8 30 p. M. In new york city. David westin will be hosting. Nancy pelosi has signaled democrats are willing to pass a standalone Airline Relief though. She spoke with the treasure terry secretary Steven Mnuchin she spoke with the treasury secretary Steven Mnuchin. Last week House Republicans blocked the democratic proposal to provide more than 20 billions for airlines and contractors. The British Government is getting ready to pull the plug on brexit trade talks. Bloomberg has learned the u. K. Will withdraw from negotiations with the eu next week if there is no clear deal insight. Boris johnson has said he wants the outlines of a deal to be clear by october 15. Eu officials have said they will not be pressured into making concessions and are prepared to call the prime ministers bluff if he does not compromise. Hurricane delta has slaved into mexico, not far from cancun. It weakened slightly before making landfall. Winds were near 150 miles per hour. There are fears delta could cause a deadly storm surge that would raise water levels by up to 12 feet. The hurricane is predicted to pick up strength as it moves over the gulf of mexico and takes aim meth united states. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Am Mark Crumpton. This is bloomberg. David this is balance of power on Bloomberg Television and radio. Time for the stock of the hour, check on the markets. A question for scarlet fu of how the markets pricing in the selection . There is a lot of news. Scarlet look at the last 24 hours. You can see it all in stock futures. The belief was president s diagnosis of covid would create urgency and focus minds on the need to strike a stimulus compromise. The decision to halt negotiations and that rally, but overnight the flurry of president ial tweets on specific handouts to airlines and Small Businesses out futures recovered. The piecemeal approaches halting the selloff. We know theres a lot of money sitting on the sidelines. 4. 4 trillion collecting nothing. We saw investors starting to put some of the money to work after the initial plunge in march. That money first went to big tech, now increasingly it is rotating to value stocks. As for how analysts are gaming out the election, a few scenarios favor the u. S. Dollar, which is already under pressure. Es told bloomberg the u. S. Seems to be focusing away from tech and equities to measures more household friendly. That will lead, he says, to more deficit spending. In the meantime rates have broken out of the recent tight range. The 10 year yields rising to as high as 79 basis point on the back of reflation hopes. World market says it is unlikely to reach 1 with markets convinced the Federal Reserve would likely step in to keep rates low. If you look at the odds of a joe biden victory, they are at a peak of 66 according to the betting market predictit. The thinking, as youve discussed, is that a democratic sweep would mean more fiscal spending, offsetting of not compensating for higher corporate taxes. That is neutral the shortterm positive. David one quick thought on eli lilly. They pressing forward on approval for emergency use of a therapy for covid19. Approval forhe fda emergency authorization. It is not a treatment, it is not a vaccine, it is a bridge to a vaccine, because it could help people exposed to or who exhibit early symptoms, prevent them from growing up from blowing up to severe cases. President trump was given treatment from regeneron. One does fromose, eli lilly would make a financial impact. David coming up tomorrow on television and radio, we will be joined by speaker of the house nancy pelosi who will talk about the battle over stimulus and much more. This is bloomberg, balance of power. David this is balance of power, breaking news now across the bloombergtechtv or the u. S. Is exploring restricting tencent Payment Systems. We want to go to nick, are person who covers National Security for us in washington. Tencent has a huge operation in china, its not clear how much this is used in the united states. But this is perhaps an extension of the trump administrations general efforts to make sure that to the Chinese Technology is not jeopardizing National Security. We go to nick, i just saw the headline come up. Clean it to us as best you can. Nick the administration is looking at ways to restrict tenpay. Nd tempe its the additional Payment System as well as tencents digital system here this is born of a belief that they are afraid that these platforms could be used to soak up user data. Notven though this is widely used, there is a fear that as the digital Payment System spreads, that Chinas Communist Party could get more access to that data. They want to fire a shot across the bow now. Theres also an issue of a mega in in hong kong at shanghai a couple of weeks. And they really want to send a are going tothey likely seek to deter investors from that. Because they say that sanctions or some other form of punishment is coming. I want to be careful, please correct me. My understanding is that the u. S. Is exploring this possibility. It sounds a bit like a chapter two in the tiktok book, is that right . Nick thats a great way of putting it. This is exploratory. This is not something happening imminently. Theres no order drafted and thats one of the problems. Theres a lot of concern. They went after tiktok, they went after we chat, look at what happened. The courts said this is invalid. You are guilty of executive overreach and we are going to impose an injunction on those orders. So the administration said we want to go after these Payment Systems and we believe they are threats. How do we do it in a way that will not blow up in our face and embarrass us. Thats what the discussions are focusing on. Thank. Nickel continue reporting on that story. But i want to turn to colleges and universities in the united states, across the country they have been adapting to the world of covid with a blend of remote learning. We welcome now the head of one of the leading public universities in the country, i would say is the leading institute, dr. Mark of the university of michigan. It is helpful that you are a medical doctor, how is this affecting university of michigan and its operations . We are trying to conduct what we call a Public Health informed semester. About 80 of our student interaction is online and 20 is in person. The things we are doing in person are things you can only do well in person, teaching labs, music and art instruction, the larger lectures are all online. The vast majority of her students are in ann arbor and its a real challenge keeping them safe and healthy in this sense. Percento you have any of the percentage thats in person . Are 80 . David and what is the testing regiment and what does it tell you . Are frequency of positive tests is that when we are had twog randomly, we or 300 cases among students. But the rate of those cases have gone up. Its mostly in the setting of offcampus social situations with diseases spreading. Theres very little, if any spread in the classroom or on the campus. Andly in Residence Halls social circumstances. David we have heard about such fraternity and sorority campus parties and offcampus parties. Do you actually suspend students if their founders attended one of these . Dr. Schlissel we are collaborating with the state and our local government, the approach is educating, and they placed a limit on the number of people who can be present indoors at an event. A 10 person limit, 25 for outdoor congregations. Bywe try to enforce this educating the students on why its important, and that frequently ends up with us talking to students with the threat of going into a disciplinary proceeding. The vast majority of our students want to be here, they are Wearing Masks on campus, outdoors and indoors. They are doing all of the things we ask them to do. The challenge is doing a 24 7. Particularly on the weekend and late in the evening, the guard is let down and behavior diminishes, compliance diminishes. And the primary mission is education, but you are a big employer with a big business, if i could put it that way, to run, how has it affected your revenue and your ability to employ those thousands of people . Dr. Schlissel most people dont please state the early days of the pandemic which completely disrupted health care. We have michigan medicine which has 2. 5 million clinic visits each year and is responsible for about 55 of our total budget. Its about 5 billion in the health system. And when the pandemic first hit in michigan we were losing hundreds of millions of dollars over the course of several months because we stopped doing routine care and focused on treating the pandemic. Thats gotten closer to normal. On the academic side of the university we sent our students home back in march and put education online. We are now a mixture. Or 50 billion0 based on increased expenses and decreased revenue in our educational enterprises. You have to put this in the context of a 10 billion organization. Im an alum and i would be remiss if i did not ask about football. Youre bringing this back later on in the month. And we have three more cases in the nfl today. Dr. Schlissel we put a hold on all athletics back in early august, when the doctors advised us about how to conduct sports safely, we figured out we could not social distance thing and matt distancing and masks on a football field. The nature of the game, to contact game with body fluids all over the place. We put a pause and set folks to work saying what can we do to make competition and practice safe. A few weeks ago the doctors came back and said we have the capacity to test people every turnaroundshort test. Its not a sensitive as the pcr test. But if you do it every day on everybody entering the facilities and on the playing field, there is a 99. 9 chance that there is nobody with the disease. Once we had a paradigm of everyday testing, we were comfortable going back on the pathway to play. The big house that you remember with 110 thousand people, we will just have flam family members. And the staff of the Football Team and the referees and the like, and it will be that, broadcast on tv. And once we decided to do it safely we decided to do it. Andd and Colleges Universities across the country are dealing with some form of this challenge. What are the possible longterm changes in higher education, whether its the way we educate people oress model itself. We will lose some colleges. Dr. Schlissel i think people will look hard at the value proposition. A lot of education is remote and we have been working for years, not to since the pandemic, im trying to figure out whats the nice way to integrate online modalities with the things you can only do in person. So many people will learn just fine instead of sitting in a lecture taking the online component of that course. But we can use this in person time for more entrepreneurial learning. We are still big believers in the value of residential higher education, where we bring together students from all different parts of the world. A lot of the education occurs informally outside of the classroom from a diverse student body. Educational adjust. The pandemic has hastened it by forcing us to experiment and to find ways to blend them in. David are we going to get to a day were we go back to college or will we always have a blended result is a plot a practical matter . Dr. Schlissel i think blended is a huge value added. If you want to study abroad but you need a certain course to continue on your pathway to graduation. If you could take that course remotely with a high quality form and do your study abroad in paris or beijing, thats a huge advantage for education. Or if you want to do a summer internship but take some classwork to eliminate students in place but it does not replace some of the in Person Learning that occurs between people. We have not found great ways to in place that online replace that online modality. David we have an election coming up, if you havent noticed, the university of michigan was a real center of just of registration and activism. How has this been affected this year . Dr. Schlissel the activism is different, its gone online. We still have students with rallies and protests on campus, sometimes right outside my home. Ut they are Wearing Masks everybodys doing their activism in a responsible way. More online petitions, zoom meetings and discussions. We have been engaged since the 2016 election, trying to get more of our students to take personal responsibility for registering and voting. It was embarrassing to me that our turnout of michigan students for the 2016 president ial election was below 20 . More students were complaining about the outcome then voting. So we push hard on this and try to make it easy. Michigan itself, as a state, has a no questions asked absentee ballot policy, early voting has already begun. We have opened up on campus there are absentee ballots to remove concerns about the u. S. Mail. Our students are going to vote this time in high numbers. We want them all to exercise that franchise. Its important. Dr. Schlissel we really david we really appreciate your time today. And we have breaking news from a few minutes ago, Vice President mike pence and senator harris have both tested negative for covid19 in anticipation of tonights debate. Coming up, breaking up the big text firms. We speak to the former head of hewlettpackard about whether proposals make any sense. Dr. Schlissel david this is balance of power. A report was released yesterday, the climax of the extensive inquiry into antitrust laws into big tech. We see outlines of the 449 calendar pager or. We welcome then brody who covers tech regulation washington. Then, give us the top line. This is fairly radical as i read it. Ben thats correct. The basic idea would be the kind platform,marketplace from the smaller competitors and separating them. Amazon operates as a place where thirdparty merchants go but its also competing against those merchants because its a retailer. The idea would be to structurally separate those and in auld prompt breakups wide swath of text tech. Described as a glasssteagall for tech. It is assumed that if you acquire a merchant it would be anticompetitive. Ben its a reversal of the way that merger enforcement is done now where governments have to prove that its antitentative and the idea is to make sure particularlygers, Small Companies that take off in the Digital Space dont go through with that. Thats openly what they are talking about. And thats big if its a go. David is this going anywhere . Ben thats a great question. The republicans have not signed on to this report and have referred to several of these ideas to be discussed as nonstarters. But the landscape could look different. Republicans still have some power in the senate, and if they dont like it even if they lose power which is not definite, this conversation begins because the powers only growing. And thats ben brody. We welcomerena our guest, carly, back to bloomberg. Always a delight to have you here. You ran a Big Tech Company. Do the suggestions make sense to you . First, its a pleasure to be back with you. Before we get into the specifics, let me say to you and the audience what i said to several of my Silicon Valley colleagues last week. Technology, big tech, needs to come to grips with the fact that this is a new era. Technology, for the longest time was secure in the knowledge that there was bipartisan support in washington, d. C. For leaving them alone. They were in a special category, they grew the economy, nobody was can attach that. That era is over. There might be disagreement between republicans and democrats about the specifics but there is bipartisan agreement around the fact that big tech has too much power. There is bipartisan support for that and republicans have said that in response to the support. There is also bipartisan lack of trust in much of the leadership of big tech. Whether the specific provisions go anywhere or not, i think Technology Firms need to deal with the reality that they are now in the crosshairs of washington, d. C. And they need to think strategically about how to be a part of the solution. Otherwise they might not like where this ends up. Carly david what you make of the conclusion of the report that the size has made it less likely there will be innovation and new upstart competitors to come along . Does that ring true from your experience . What the Big Tech Company say is we are investing invasion innovation all over the world and are responsible for it. Carly the truth is both statements are true. If you look at where innovation traditionally comes from, it has come from smaller startups. Thats what google once was. Thats what amazon once was. Thats what apple once was. Thats what all of these companies and facebook once was. That these Huge Technology companies, has a great interest, in leveraging other innovations. But they do so by buying them up. Thats what they have done. And finally i would say its undoubtably true that these companies have a market power and a power over consumers, not to mention consumer information. And Technology Companies can no ,onger naked credible argument that somehow they are in a , that if youegory do anything with internetbased companies in terms of regulation or oversight that somehow you are going to curtail their growth. I dont think that argument rings true anymore. Thats why think strategically they need to think about how to be a part of this conversation, instead of just saying no no, nothing to see here, nothing to do here. That will not fly. Carly david you mentioned the leadership, how do you lead a company thats winning by too much . You could say it happened with ibm and microsoft are what can a leader do in that situation . First, i dont want to be too critical, but i do think that some of the leaders of some of these companies have damaged their case a bit. By being, we now know, less than forthcoming by whats really going on. We have seen too many instances where leaders have come before capitol hill. Thats not a pleasant experience for any ceo and ceos get very outraged about the hypocrisy, which is all deserved. When a ceo is found to be less than forthcoming its not helpful to their cause. The most important thing, for these x ceos to do, is to decide strategically the best course is not resistance at all costs, but instead to try and be part of the solution. I started my career in telecommunications. There was a long period of time where at t was a big power and it resisted at all costs being part of the solution. That was a cost to them in the end. To lookthe ceos need through what they are willing to live with and how can they influence the legislative process on both sides of the aisle to come up with something that will work, just leave us alone is not politically feasible anymore. Arguments are no longer completely credible. A plausible defense that we have to worry about china . Carly yes and no. Yes of course we do need to worry about china. Thats why our approach to china must be consistent and persistent and strategic and collaboration between government and business which has not always been evident over the last 20 years. Need to be consistent across administrations when we deal with china and between parties which we have not always been. , but these Tech Companies are winning globally, its why the European Union has taken some of them on. So that argument is important, but i dont think it will be successful in saying just leave us alone. Terrificats a perspective from carly. Thank you. This is balance of power on Bloomberg Television. Carly this david s balance. We have some news, corn to the president s doctors his vital signs remain stable, he has been fever free for four days and President Trump has been symptomfree for over 24 hours according to a memorandum released by President Trumps doctor. That is we get ready for the Vice President ial debate. We could have the analysis coming up on bloomberg. This is balance of power on bloomberg. Mark i am Mark Crumpton with first were news. Vice president mike pence and senator Kamala Harris are said ahead offf in a debate that, centre senator harriss Campaign Says she has tested negative for covid19. Vice president pences doctors it says that he has also tested negative. They will participate in a 90 minute debate, separated by 12 feet of space and a plexiglas shield. Neither they nor their moderator will wear masks. Tune into our special coverage tonight on Bloomberg Television and radio. That begins at 8 30 new york time. The white house is taking extra measures to try to contain the spread of the coronavirus. Mark meadows told fox news additional protocols have been introduced, including cordoning off different working groups. Stephen mill your became the latest in President Trumps inner circle to announce he has tested positive. The coronavirus continues to impact the National Football league. The new england patriots, tennessee tind