>>> NOW THIS ALIBABA SINGLES'

DAY BROUGHT IN RECORD

$38.4 BILLION IN JUST 24 HOURS.

WE HAVE MICHAEL PILLSBURY,

AUTHOR OF, THE 100 YEAR

MARATHON.

MICHAEL, WHAT DOES IT TELL YOU

ABOUT THE CHINESE ECONOMY?

>> I THINK PEOPLE THINK IT IS

GOOD NEWS THAT THE CHINESE

ECONOMY IS STRONGER THAN WE

THOUGHT.

THE CHINESE ECONOMY OF ALL

STRESSES THEY'RE GETTING READY

TO MAKE AN OFFER TO PRESIDENT

TRUMP.

THEY MEET IN JUST 17 DAYS IN

BUENOS AIRES.

THE OFFER HASN'T COME YET.

THEY'RE ACTING LIKE THEY'RE

DEALING WITH A POSITION OF

STRENGTH, CHARLES.

THAT SURPRISES ME TODAY.

THEY HAVE A NUMBER OF MESSENGERS

COMING.

THEY MET WITH HENRY KISSINGER A

COUPLE DAYS AGO.

THEY HAVE THE BILLIONAIRES

SUMMIT WHAT THEY CALL KNIT

SINGAPORE.

THOSE PEOPLE COMING BACK WITH

MESSAGES.

IT IS MESSAGES OF THE STRONG

ECONOMY IN CHINA.

WE WILL MAKE AN OFFER, BUT WE

MAY NOT MAKE IT UNTIL THE LAST

MINUTE JUST BEFORE BUENOS AIRES

BEGINS, THE G20 BEGINS.

CHARLES: THE ALIBABA NUMBER IS

IMPRESSIVE BUT THE RATE OF

GROWTH AT 27%, WELL BELOW LAST

YEAR, 39% IN 2015.

THEY GREW AT 91%.

ON FRIDAY OVERNIGHT WE HEARD THE

AUTO SALES WERE DOWN FOR

OCTOBER.

THIS COULD BE THE FIRST YEAR

EVER THEIR AUTO SALES ARE DOWN.

>> RIGHT.

CHARLES: WE KNOW SOME OTHER

THINGS, THEY'RE FORCING BANKS TO

BUY CORPORATE DEBT SO THEY HAVE

GOT SOME SERIOUS ISSUES, NO

DOUBT ABOUT THAT THEY CANNOT

AVOID THOSE SERIOUS ISSUES, CAN

THEY?

>> AS YOU KNOW, CHARLES, THEY

HAVE THE POWER TO CONCEAL THE

REALLY BAD NEWS.

SO SOME OF THESE STATISTICS FROM

MY POINT OF VIEW ARE SUSPICIOUS.

WHAT THEY ARE TRYING TO DO IN

TERMS OF PRESIDENT TRUMP IS

PROJECT THE IMAGE OF STRENGTH.

WHETHER THAT IS REALLY TRUE IS

HARD TO KNOW.

YOU THINGS YOU CITE ARE QUITE

IMPORTANT.

I THINK THEIR FOREIGN EXCHANGE

RESERVES, HOWEVER WHAT THEY'RE

BANKING ON.

IF THEY HAVE SOMETHING LIKE

3 TRILLION IN FOREIGN EXCHANGE

RESERVES, THIS GIVES THEM A HUGE

CUSHION THAT FRANKLY MOST

ECONOMIES OF THE WORLD DON'T

HAVE.

CHARLES: LET'S POINT OUT THEY

HAD 4 TRILLION TWO YEARS AGO.

SPENT A TRILLION PROPPING UP

THEIR CURRENCY.

>> THAT IS EXACTLY RIGHT.

CHARLES: THE IDEA IT WOULD BE

GOING DOWN WOULD BE KIND OF

CRAZY AFTER SPENDING A TRILLION

DOLLARS.

I WONDER WHY I WAS ONLY ONE

THOUGHT THIS WAS A OLIVE BRANCH.

FRIDAY MORNING, CHINA ALLOWED

AMERICAN EXPRESS, GAVE THEM OKAY

50/50 JOINT PARTNER TO BUILD A

NETWORK.

THIS WAS PROMISED IN 2012.

ALL OF SUDDEN THEY DO THIS WITH

AMERICAN EXPRESS.

I THOUGHT THAT WAS A OLIVE

BRANCH.

A SMALL SIGN IF YOU WILL GOING

INTO THE G20 SUMMIT.

>> THIS NEW NUMBER ABOUT HOW

MANY SERVICES THEY'RE GOING

IMPORT OVER THE NEXT FIVE YEARS.

CHARLES, I THINK YOU HEARD THIS

NUMBER, IT IS 2.5 TRILLION.

IF YOU'RE GOLDMAN AXE OR WANT TO

DO MERGERS AND ACQUISITIONS IN

CHINA, 2.5 TRILLION IN SERVICES

HOW MUCH OF THAT WILL GO TO THE

JAPANESE OR THE EUROPEANS?

AMERICANS WANT A BIGGER THAT OF

THAT?

THAT IS ONE OF THEIR NUMBERS.

THEY HAVE DANGLED SOME OTHER

NUMBERS RECENTLY THAT IMPLY A

STATE-OWNED ENTERPRISE REFORM.

THEY'RE NOW SAYING STOP 13 STATE

OWNED ENTERPRISES WILL FORM NEW

PARTNERSHIPS WITH FOREIGN

COMPANIES TO TRY TO MAKE MORE

COOPERATIVE AGREEMENTS AROUND

THE WORLD.

CHARLES: RIGHT.

>> THEY HAVE A SERIES OF THESE

THINGS WE'RE SEEING TODAY, THAT

AMERICANS ARE COMING BACK FROM

THESE CONFERENCES.

THERE IS ONE IN BEIJING A BIG

ONE IN SHANGHAI.

ANOTHER BIG ONE IN SINGAPORE.

EVERYBODY IS BRINGING BACK THESE

CARROTS THAT PLEASE, PRESIDENT

TRUMP, DON'T PUT THE TARIFFS ON

NEXT YEAR BECAUSE LOOK WHAT

AMERICAN COMPANIES ARE GOING TO

HAVE WAITING FOR THEM.

BUT AS YOU IMPLY, THIS MAY BE A

TRICK.

WE DON'T KNOW IF THEY'RE REALLY

GOING TO DO THIS.

CHARLES: I GOT TO GO JUST REAL

QUICK, MICHAEL, DO YOU THINK

WE'LL GET A DEAL OR AT LEAST THE

MAJOR STEPS TOWARDS A DEAL AT

THE G20 SUMMIT OR IS IT TOO

EARLY TO KNOW?

>> WILL DEPEND HOW TOUGH

PRESIDENT TRUMP IS AND HOW

SERIOUSLY HE TAKES HIS PROMISES

TO HIS BASE.

THAT IS WHAT IS GOING TO COME