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MICHELLE, WHAT IS YOUR TAKE IN TERMS OF CHINA'S RESPONSE TO THESE TWO TERMS WE ARE DISCUSSING, THE SLOWDOWN AND THE GEOPOLITICAL RISK IN HONG KONG? >> THE GEOPOLITICAL RISK IN HONG KONG HAS BEEN CONTAINED ON THE MAINLAND. ON THE MAINLAND, THESE ARE SEEN AS HOODLUMS AND HOOLIGANS. BEIJING IS EXTREMELY WORRIED AND KEEPING A WATCHFUL EYE ON HONG KONG, BUT THE RISK OF CONTAGION IS RELATIVELY LIMITED. THE BIGGER CONCERN IS THE ECONOMY AND THE STATE OF THE U.S.-CHINA TRADE NEGOTIATIONS. EVEN IF WE GET A PHASE WHEN DEAL, IT DOES NOT SOLVE ALL OF THE ISSUES. TOM: I THINK YOU GO TO THE HEART OF THE MATTER. ANY BELIEF, DESIRE, OR UNDERSTANDING THAT THE RESPONSE TO THESE PROTESTS IS LINKED TO THE TRADE DISCUSSIONS, ARE THEY? >> THE U.S. SENATE COULD PASS A BILL THAT COULD WORSEN THE SITUATION ON THE BROADER STRATEGIC BILATERAL RELATIONSHIP. BOTH SIDES WANT TO REACH A DEAL ON THE TRADE TALKS. THAT WOULD HELP INVESTOR SENTIMENT. THE UNDERLYING TENSIONS BETWEEN THE U.S. AND CHINA ARE HERE TO REMAIN. ISSUES LIKE HONG KONG, HUMAN RIGHTS, TECHNOLOGY, CURRENCY, A HOST OF ISSUES THAT WILL CONTINUE TO COME UP BETWEEN THE COUNTRIES. TOM: IT IS INTERESTING TO SAY THE LEAST. WHAT IT COMES DOWN TO IS THIS DISTINCTION IN HONG KONG THAT GETS YOU OUT ANOTHER WEEK AND ANOTHER WEEKEND. WHAT ACTIVITY WOULD YOU LOOK FORWARD TO THIS WEEK IN HONG KONG? >> IT LOOKS LIKE IT IS A CONSTANT ESCALATION. IT IS HARD TO SEE HOW WE GET SOME KIND OF CALLING OF THE SITUATION. WE WILL PROBABLY SEE MORE TROOPS ON THE GROUND, BUT PROBABLY NOT THE CHINESE ARMY COMING IN. WE HAVE SEEN THE POLICE OFFICERS AND HONG KONG POLICE TRYING TO CALM THINGS DOWN. IT IS KIND OF LIKE WHACK-A-MOLE. YOU TRY TO GET IT IN ONE PLACE, AND IT POPS UP IN THE UNIVERSITY