BNN - Friday, May 24, 2024 - 05:00 p.m. (ET) - Segment #4

you, I have changed my opinion. So that is all very important. I do not think it will change the trajectory of this candidacy and this race in particular. It is usually not when you're talking about the vp nominee but I think it is a good sign that she is getting better and better at what she's doing. And she is going to be a force in the democratic party come after joe biden. Joe: on her portfolio at the white house, sit -- has certainly evolved into something that progressives are more passionate about. We'll keep tabs on this for you. Coming up, and inside look where the cameras have not been before. French ambassador to the U.S. takes us inside the wine. Cellar at an exclusive conversation about soft power. That is next on "balance of power" - [Narrator] The Ninepoint Web3 Innovators Fund. Get exposure to digital assets and to innovative companies leveraging Web3 technologies today. The Ninepoint Web3 Innovators Fund. Available on the tsx, ticker tkn. Ninepoint. Money is a thing. You're told to make money, invest money, save money. While others are encouraging you to spend your money. You might even be planning your money ...based on someone else's plan. Maybe it's time to do things...differently. And get obsessed over something other than money. Like building a path based on what's important to you. ( ) we understand money's a thing, but it's not everything. Edward Jones. We do money differently. We know you care. But if this is all too real for you and your loved ones. Make the call. Because we care too. Home Instead. To us, it's personal. ( ) ( ) The infiniti qx60 exemplifies modern luxury. With powerful suv performance, three rows of comfort, and a sleek-yet-daring design. ( ) Lease a 2024 qx60 from 0.99% apr for up to 24 months. Visit INFINITI.ca. ( ) Find a great deal foryour ideal hotel.Open trivago, type inwhere you want t select your check-in andcheck-out dates and search. Compare prices forthe same hotel and save up to $50 a night. Hotel? trivago. Discover amur capital. Amur capital's track record of consistent performance has delivered industry leading returns since inception. Why play games with your financial future? Choose amur capital - a Simpler Approach to Investing. Joe: this is "balance of power" on bloomberg tv and radio. Thanks for joining us. We saw international diplomacy on the highest level this week in washington. The visit of the kenyan president complete with a state dinner at the white house. Last night, that featured a five-star menu and world-class wines from california and oregon. But soft power as they call it is employed on the smaller scale every day in washington. And not only at the white house. As I discussed with france's ambassador to the U.S. inside the wine cellar in the french ambassador's residence. Where soft power often comes with a glass of bordeaux. >> Most of what is happening is not around the official table, it is on the site door-- the side door, when you enter, when you can share what is the reason behind your position on some issue and that does not work -- that is really when people are connecting and exchanging thoughts. Joe: wine is not just a tonic for diplomacy. It is also big business. The most recent statistics we have seen, value french wine exports at more than $17 billion. Much larger than what we see in california, for instance, in the united states. Is there room for growth in an industry that is as growth this - -- as old as humankind? >> Obviously -- joe: how about for france? >> For us, we are kind of a mature economy and a mature market for the wine. And we are also strong rules to make sure that what we export is the top-quality. We can't by example, expand grapes in an area that would be

close to champagne. The same kind of climate. We would have to create a new wine, but not try to send some things, a fancy name that does not fit the quality. So, we really focus on quality more than expanding more quantities. Joe: you are self-described introvert. Does wine help with that? >> It can. But, also when I refer to that, I was also -- comparing myself with some of my predecessors. Who are known in D.C. as being more extravagant. Yes, it helps. Because wine is also about bringing people together. I don't mean to get drunk but just to offer something that you like. To share a moment of, yeah, good food, and good win,e about life. I like the small farmers -- which is where I am more introverted. I prefer to a big party. A dinner when we have more time to exchange to make relation. Joe: the wine that we are drinking here, again, brings us to an area of france where the wineries are very small. Each bottle tells a story. There is a family behind it. There is usually a story of an enormous effort and hard work that goes behind it. That's part of the story of french culture. >> Yeah, I think that is what makes the difference is that in these small farm people will know -- we know exactly that on that hill, the sun, you need to mix that one with this one that is more flat but has that particular taste. I'm thinking about my experience. Joe: that is the essence of this, correct? You cannot make the same wine five minutes later five miles down the road. It is about what is happening right now. >> The soul of your grapes and the way to --the assemblage of these different pollution. Joe: assemblage makes me think of champagne. Do you have time for bubbles? >> I always have time to bubble. There is already a good bubble in france. It's also, again, that combination of experience, know-how and particular climates and, of course, the variety of grapes. Joe: I understand that you are clearly a win fan, but you are from brittany where cider might be first on them menu. >> I have to confess that britain was known for getting that to flourish in an area known for its wine production. My first connection really with wine in a little part of my life when I was a child we were making our own cider. Once we had one that was so super full but it was exploding more than champagne. But also traditions, the family. And so, one year was good and one year was not. My family decided to let the cider -- leave the cider production to specialist. Joe: we will leave the diplomacy to you. Mr. Ambassador, thank you so much for hosting us in the residence. I think it is time for a toast. >> For friendship. Joe: cheers. The conversation with the french ambassador to the U.S. back with us, our political panel. Who are not drinking wine this evening but you spent a lot of time working in the senate foreign relations committee. You know the importance of embassy row. That room that we show people is in fact where much diplomacy that matters takes place. >> Tres magnifique. For soft power is real. The french are very good at it. They have assets, as you just saw that others don't have. And it is a great way to bring people together and talk about things. I think it is an excellent piece. And france is still relevant in the world today perhaps because of wine. Joe: liquid assets. What do they mean for diplomacy? >> Oui oui. You had a pretty good gig. That is a way to kick off memorial day weekend. And they mean a lot. Joe: they do mean a lot. Cheers to you on your long weekend. I hope you both have one. And we will be back, of course, with an important week, a short but important week following the memorial day holiday next week. And I do hope that you will join us right here on bloomberg tv

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