Good morning welcome to squawk box. Im becky quick with joe kernen and Andrew Ross Sorkin weve been on a bit of a winning streak up four days in a row. Yesterday the dow was up this morning, you are seeing a little pull back dow down s p down and nasdaq off by 172 yesterday, Goldman Sachs helped. Good news from moderna godm goldman came out with much better numbers than anticipated. Also looking at the trezy yield. The 10year is sitting about 0. 622 good morning. As joe mentioned earlier the twitter shares are lower after the company showed dozens of users were part of a twitter hack targeting some employees who had access to systems and tools. Among those hacked joe biden, jeff bezos, bill gates, elon musk all telling users to send massive amounts of bit koip to an address they are diagnosing the problem and will share everything once the picture becomes more clear if they got in through employees with tools and access to accounts that raises questions about security procedures at tho
At this point with hallway and as geo political superpower that we are in the United States and where a competitor to china were seeing with 5 g. Because the u. S. Doesnt even how one single manufacturer of this tel and consequent we see germany we see brazil likely to do deals with huawei despite the u. S. Saying no what do you think of this well they certainly are putting pressure on on the europeans not to do 5 g. And indeed also the same question is confronting india right now. Modi is also being pressurised not to adopt while weighs 5 g. Standard so the question is if you want to use the sputnik analogy the russians were ahead of us when they launched a man into space before we did and the us mobilized its considerable National Resources and ultimately caught up and did surpass the russians. I would say that its not impossible that the same thing could happen but of course it would mean invoking things Like National industrial policy which is something we havent liked since the 19
At it from an economic standpoint they make their shoes and they make our shoes they make their t. V. s and they make our t. V. s they make their car parts and they make our car parts so i think their economy the way we estimate it is that is their economy is absolutely you know massive you go any city in china they basically have new airports new roads New Buildings new schools so theres been a massive economic boom that probably is going to be difficult to keep up and you know what i personally believe chinas g. D. P. The last few years is much much lower than the official so looking at some of these technologies like 5 j what way they are leaps and bounds ahead so to get it can take on the sputnik moment you know we have the cold war 3 saul going on with the union that same to get the nasa Program Going which gave us a lot of new technologies and there was a huge boost to our economy. Should we look at this in the some other way and say look they are clearly had of us while way 5 g.
Back now according to the i. M. F. Using purchasing power parity china is already 25 percent larger economy than the United States and cons of course you live there for 20 years what did you see here youre in brooklyn as you can hear around us were across the river from manhattan and youre seeing a construction boom here by u. S. Standards but put this into context of our competitor nation as trump calls thats whats going on there component here china has a distribution economically of course and sort of were right the economy in brooklyn where were going to be different than little rock arkansas trying to do they passed us on a p. P. P. Basis on the g. D. P. Back in 2016 so its been a few years already the way i like to look at it too if you just step back and look at it from an economic standpoint they make their shoes and they make our shoes they make their t. V. s and they make our t. V. s they make their car parts and they make our car parts so i think their economy the way we est
Standards but put this into context of our competitor nation as trump calls thats whats going on there component here china has a distribution economically of course and sort of were right the economy in brooklyn where were going to be different than little rock arkansas trying to do they passed us on a p. P. P. Basis on the g. D. P. Back in 2016 so its been a few years already the way i like to look at it too if you just step back and look at it from an economic standpoint they make their shoes and they make our shoes they make their t. V. s and they make our t. V. s they make their car parts and they make our car parts so i think their economy the way we estimate it is that is their economy is absolutely you know massive you go any city in china they basically have new airports new roads New Buildings new schools so theres been a massive economic boom that probably is going to be difficult to keep up and you know what i personally believe chinas g. D. P. The last few years is much mu