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tv   [untitled]    August 5, 2011 1:00am-1:30am EDT

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join me that shows the movie that's the great rage of the grand imperial. told what . you can a little child which i did to go and. read this in the county was which as a treat. asian stocks tumble as global markets reacting badly to america's gloomy economic outlook and the swelling of eurozone debt crisis that's getting consumer confidence. as former egyptian president hosni mubarak stands trial for mass killings for. those who fought for change are left jaded as violence at a rest continue on the military. and we take you to russia's far east where integration with neighboring china is marking alexander borders and that's it a russian close up at this hour. nine
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am here in the russian capital you're watching our team thanks for joining us now our top story asian stocks longs on friday following a day in the red for european and american markets investors are nervous over the prospect of a sharp slowdown in the u.s. economy as well as having the euro zone debt crisis on their minds the specialist who helps american firms forge international says the crisis shows that washington's not tuned in to the right signals. i can't speak for all the investors but certainly. looking at what happened in washington doesn't raise anybody's confidence that the politicians will do the right thing the us ship be concerned and should be worried but i'm not sure that the our politicians in washington are getting that message it seems like they are it involved in their daily political
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struggle and battle and they place a higher importance to winning those political points then taking into consideration the national interest states as well as the world why interest in a financially stable market i'm very concerned about the future of the united states much less concern. what's going on in asia there's no question in my mind in asia including china but other parts of asia as well is very much on the rise and they seem to be much more sure footed and they get things done over there compared to what's going on in this country. to get the latest forecast for the global economy that's cost live not adonal to bush from c.l.s.a. asia pacific markets and a pound of brokers on the investment group joining us from bangkok thanks very much for being on the program nowadays and markets were reacting as usual reacting to
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wall street movement they plummeted very sharply now what does this mean for the asian economy it really is reminiscent of the lead up to the two thousand and four after crisis isn't it. yes it's true it's very similar and the concern that we have now is that we have to see growth rates in asia come down a bit further from where we had been expecting them and if you remember in the global financial crisis previously a lot of banks in asia got very cautious so they themselves decided to limit their lending and that's likely what we will face again but it is a talk about china this is the world's second biggest economy now there's slower growth there albeit self-induced but they're also dealing with inflation and unemployment so this is quite bad timing for them what implications would it have for china if the eurozone and the u.s. were to go even deeper into crisis. but i think the
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implications for asia is that we start to see a bit of slower growth across asia as i was saying i think the banks will limit their lending to a degree like i was trying to world what made you decide to. go for china remember in the past they were able to continue to grow their infrastructure program and banks were providing credit for that so china probably is still one of those countries where you'll still see acceptable growth remember they've been trying to manage down their growth to about eight per cent and maybe we'll get there now but what you should see is china doing less in the way of tightening measures if the global economy is much weaker ok let's talk about global reserve currency of us or at least in a very bad position right now admit all this right spread it cannot make panic what are the chances of the china sea water becoming a reserve currency. i think that would take quite
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a bit of time that. it would take a few years at the very least. i think you still need to open up the capital account for that to occur definitely seen many individuals moving into renminbi deposits in hong kong over the past few years but for it to be a reserve currency i think that would still take quite a bit of time ok that there are critics who argue that the very idea of a common european currency was a flawed concept from the outset what's your view on that. my view on the what can you repeat that european currency having a euro was flawed from the beginning according to some critics what do you think. the concept of the euro was was always fundamentally flawed because then you limit each country's ability for independent monetary policy where many different factors are at work in each of the different economies so i think we've been seeing the
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short ball over the weaknesses of the regime of that program for quite a while now and it's coming to a head maybe you know with some of the problems in greece and other countries there i think this is this put everything is going on in some perspective people are throwing around words like recession a double dare financial crash and it reminds us of two thousand and eight certainly but can you give us a realistic a comparison of the two where are we in comparison to that crash or maybe going to be in the same position or even worse than before or maybe you would say we're in a slightly better position right now. there's there's no comparison to the position asian countries are in now compared to the financial crisis in one thousand nine hundred seven are f.x. reserves are much better our foreign dollar borrowings aren't really there and our leverage position in terms of credit to g.d.p. is not nearly as high and compared to the global financial crisis you may remember
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actually asian economies and banks didn't get that hard hit so again the situation today is is not that worrisome compared to the last two crises in asia ok just very quickly how will russia be affected by all of this from your perspective. i'm sorry could you repeat what about russia just very briefly what's your take on the russian position at this point. the russian position did you say yes or i think we're having quite a bit of late. did you get the question are i think we're running out of time thank you though mr daniels of bush from the c.l.s.a. asia pacific markets thank you. both capital hill is cash may be scarce but they'll be no dipping into what is the world's biggest military budget defense secretary leon panetta gave lawmakers a firm has softened said cuts should come from medicare and social services instead
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former pentagon official lawrence korb says america's defense van mouth is in a drastic need better management. well a secretary to transport that is trying to basically keep the spirits up of the organisation he took over but as former director of o.m.b. he knows that the defense budget now even if you control for a ship is higher than at any time since the end of world war two but i think the key thing to keep in mind is that when they talked about costs up until now they've talked about reducing their projected level of increases not cutting when you and i talk about cutting means we're going to get less power that we got last week knowing the defense will probably have means we won't get as much as we thought it was still going to get more you know what when richard nixon left office called him soft on defense we were spending in today's dollars three hundred fifty billion two hundred billion watch that we're spending now what you need is good management can
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put out a lot of good you know get some people who can keep up with systems growth that are under control and not buy weapons we don't need a. whole cross the atlantic the e.u. commission chief says europe's bailout fund may need to be increased as fierce mount a block sovereign debt crisis garth italy and spain the author richard mellon from the new place institute of economic affairs says the whole euro project has failed . looking at the figures i think some sort of default for italy is almost inevitable because they have to become the us to borrow something like five hundred billion euros by the end of twenty now that's the particular problem at the moment because all the other major economies are trying to broker huge amounts of money from the markets at the same time so i really don't see any way out of the main problem is actually a failed experiment in itself that was instigated decades a couple of decades ago and obviously if you have a one size fits all interest rates over a huge geographical area you're going to inflate these different bubbles all over the region and it's going to end up in tears because they'll be huge restructuring
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is going to be especially in southern europe just to make their economies bring them back into competitiveness and germany and so on so the whole system fundamentally flawed it's going to be sensible the european elites should be actually trying to work out. a responsible way for the euro to break up and for countries that use greece to leave the eurozone i think in the long run that's the only way otherwise they're healthier economies in northern europe are going to be brought down by the whole region. and in egypt where as long as the groups grow in influence debates over whether the a post revolution country will become a rule state all this as the nation's former president and his allies step out of trial was the mubarak has denied the charges against him on the first day of his hearing or he was accused of ordering the deaths of protesters back in february the hearing which will continue in ten days could see her barak face a possible death sentence baby three year old was in a hospital bed as he tries tried alongside his two sons and top aides who are also
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accused of corruption and killing six on a broker reports even with new people in power blood is still being spilled on the streets of egypt. to vote yet old enough to die for his country this was just seventeen and egyptian police killed him on the attackers where this is portrayed are dorn's one of card. thoroughfares there's even talk of naming a street in his name what makes someone and more fair and in are. well in egypt right now if they dated down there you've gone down prior to mubarak's resignation celebrated its patron who. would be a writer future of their country those killed after his ousting sometimes are very curious criminals who start to undermine their country's democratic strife it doesn't matter that they shared the same goals and each of these days justice is about power and not be other way around this young man also counted from south
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among the children of the revolution with his older brother he celebrated more boards departure from power on time we're taking need for the and to the police they later he was killed and what his brother believes was a government sanctioned shoot out there miserable and on the snipers shoot my brother david went through his head and he came out on the side and i saw it no one here has a weapon only solutions. like family some victims whose deaths are now being pinned from the bar these people receive no monetary compensation for their loss in fact they're increasingly worried that the new military authorities may persecute them starts became an all encompassing term for those who don't appreciate the ruling military. and as a source of bodies we expected the army to intervene to protect people who just don't minds but instead they started to kill people themselves or the supreme
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council of the armed forces as an interim caretaker but mubarak stepped down to power by the protests the generals nevertheless don't troll much like him for mass gatherings the cradle of the revolution is now cordoned off by riot police there was called protesting for public disturbance and some to military trials in the last seven months. there have been more people put on military trials than the number of people that were put under president of the most is the president of russia that serene and president mubarak's ring individually of course its currency is for had still hasn't healed these activists believes in god likely from season counterfeited police a month ago a son of the former presidential contender was jailed by the mubarak's regime northstar as the new authorities are just a brutally version of the all of its extremely few that there is very little
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difference between the people who are ruling us now in going and that many of the crimes the whole thing were committed to speak are currently being committed to us now by looking people who are ruling us the supreme council of armed forces. whether it is using violence or pressing. the public or even if it's manipulating the public opinion but sadly in this is what hurts more because of these crimes are now being committed with the disguise of the revolution because this bloody t. shirt as a reminder that the egyptian revolution is far from over the former president is now on trial for his role in the mass killings but the body is still being spilled on the streets of cairo. arts it's a. well the syrian opposition has dismissed a decree from president assad authorizing
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a multi-party government system the law could see the formation of political groups opposed to the ruling baath party's national front the protesters demand an end to brutal crackdowns before they'll enter a dialogue now assad's gesture came after the un security council condemned his regime's violence against the opposition and called for internal political dialogue to end the bloodshed local reports say the military is attacking the protesters stronghold of hamas activists say thousands have died there in the last twenty four hours adding to over one hundred killed since the attacks france announce it may seek further action from the security council if the killing continues however such threats are counterproductive to any real change according to. president of the arab voices some solution. but it is it is not the legislation itself it's how it's going to be implemented and the restrictions included in that there are quite a lot of restrictions which makes it probably very difficult to implement and i
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think the pressure on international pressure on syria is producing some results what is likely is the action on this is the have to make the changes that require. principally start killing people remove some of the leadership. on the part decide on the government and on the military and i think the threats that view as and france and and britain are applying to syria is very counterproductive russia's position i think it's a moral one in the sense that if you want a friend to actually give an honest advice to your friend you don't just agree with them and you don't threaten them it is not acceptable what's happening they have to have a dialogue but they're resisting falling into the same trouble they have fallen before with iraq when there will be a security council said they were not invade iraq they did basically in libya are only really going to. rise on and turned out to be into a war an invasion of libya and then if you had video of
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a stall the syria's president bashar al assad that he needs to carry out reforms and open dialogue with the opposition. and more cities successfully unfortunately the situation in syria has taken a dramatic turn we real politicians should follow developments gadhafi libya gave violent orders to destroy the opposition the syrian president gave no such orders unfortunately a lot of people are dying in syria this is our biggest concern in my private conversation with the president and in private letters i've sent him i discussed the same ideas the reforms need to be carried out so he should establish peace with the opposition establish peace in the country and create a modern state if he fails to do that in a sound future awaits him and at the end of the day we'll have to make our decision we're watching the situation is changing our guidelines are to use as the italy where the russian president gave an interview to our to. put
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a television channel on the eve of the third anniversary of the ascetic war here about those events of the caucuses the original advent of said georgian president. for face an international court for starting the war in two thousand and eight where you could watch president of the interview for one star article. what aggressive you are the q a tiny nation into the global spotlight. three years after georgia tech center said you. could anything have stopped the bloodshed. why did russia have any choice but to step in. president medvedev give archie the straight answers. and now some more stories from across the globe for you teachers have joined the anti-government protest movement are currently sweeping across israel hundreds of education workers
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rally through the streets of jerusalem demand better working conditions the news comes after the three recall demonstrations overwhelmed cities nationwide with tens of thousands of protesters reportedly involved all initially aimed at battling over rated housing prices the movement has turned into an expression of rage against a number of economic issues. more than five hundred students have been detained by police in achieving its capital some to al gore during demonstrations protesters calling for changes to the country's education system brought traffic to a standstill the barricades sent through routes of police cars and passing buses and security forces responded by firing water cannons and tear gas at the protesters seriously injuring it too with that shit as government has already offered a twenty one point reform package to stop the protests that have been ongoing over recent weeks however the unrest is expected to continue. a tropical storm
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has forced thousands of residents out of their homes in parts of the dominican republic and haiti heavy rains caused water levels to rise dramatically flooding hundreds of homes reports claim that several major rivers could soon burst their parents and conditions have been affecting the region for weeks now with forecasters issuing strong mudslide warnings. well next we're off to one of russia's remotest corners and where integration with china knows no boundaries. today were in the far eastern eye wall region it's a remote but rich region holding russia's largest gold reserves well it's also quite a powerhouse of industry with heavy manufacturing flourishing and war is also russia's eastern economic outpost being perfectly situated to make the most of its examinee
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to china art is ours here it went along to see how the state borders strode into pounds of friendship. a very warm welcome so this edition of russia close out this week coming to you from the amour region situated in the great hall this reaches of the far respect thousands of kilometers away from you in moscow but it may have played minutes by boat from china and surprisingly the influence of china and its culture is everywhere here. high heels and a hot house it's not a look many women can pull off but then on a restaurant she prefers to be called in russia as new ordinary woman having first arrived in amman has an interpreter in the early ninety's she and her family write their way up from running a small cafe shining this large construction company. and spread across the region's capital blither there no fewer than four large chinese
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restaurants full most nights and serving up a taste of the orient so brash and diners aids and impressive portfolio and one that the mother of two says she couldn't have built in china. i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy access to chinese goods equipment and a ready workforce. the receiver is just one of a growing band of successful chinese entrepreneurs operating on russia's far east where a river is one way that separates the two countries and easy proximity coupled with favorable these regulations continues to inspire thousands of chinese workers people like sasha to flock across the border every year his is a tried and tested business model selling cheap secondhand chinese cranes. so whether it's a pair of a trendy train is that the raft or perhaps the most designer sunglasses this is
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where the people of luggage there so heads to pick up a bargain we're inside the chinese market which is in the center of town and of course everything inside here bevel able made in china and all the sellers also come from china and let me tell you it's absolutely packed inside here and of how it's like this every single day so clearly business is leaving. i've been here for three years and that china has the world's not jobs things are going well here you can get things really cheap here which is great if you are a large family the quality varies hugely but on balance i think we're lucky to have chinese traders here russian it's just can't compete on pricing and i hoping on one of the many packed ferries that cross the air more river every day rushing consumers can enjoy an even more authentic chinese shopping next. albeit with a slight slavic flavor back here for a bargain and in the process help to fuel the chinese economy it's led sons of fear
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that russia is far east is being exploited by its entrepreneurial neighbor the same used for those pessimists revel in self-pity at the sight of china forging ahead more an optimist think of ways to develop like a fish and at the same pace using chinese expertise capital and labor i believe our region is hugely fortunate to border china if we compare our city to others in russia we're much better off in almost every respect i was told of extensive plans for more joint ventures in greece integration between the two countries as far as government is concerned it's relationship western and we're standing here on the a more coastline it's a mere five minutes by boat across china so close you always feel that you can reach out and touch it and people living here say that they've been witness to the phenomenal pace the developments along the high character slide representative of the growth of the chinese economy as
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a whole and its influence here in russia alison bit r t v m border region. i'll soon you can discover more about the world's largest country at r.t. dot com and all about russia section of the website some of that he was recovering online today fishing out a submarine out of touch for decades the soviets solve this with a working at the bottom of the baltic. from would be suicide bomber to peace campaigner with the palestinian woman whose life changes when her terrorism fails she tells her story of our deep dark cloud. around the way how one of the world's newest countries is looking to forge its future but first all the latest in business with kareena.
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hello and welcome to business and top story wall street has witnessed its worst stock market sell off since the middle of the credit crunch in early two thousand and nine the dow jones tumbled more than four percent while the nasdaq lost five percent of the end of thursday's speak session that's following the worsening of america's economic data that suggests the slowing growth and already sluggish pace in the press tough the sell off sentiment was boosted by news from europe regions sovereign debt is in coffin two of its largest economies spain and italy now let's have a look at markets gold is edging up adding over twelve and a half dollars per ounce while still residing twenty six cents that's after concerns of the u.s. and eurozone economies have sent investors running for safe haven precious metals are providing right now who is makes the saulteaux trading lower levels it lost around five dollars on thursday again it's the wobbles in the us economic
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predictions that are impacting all future demand for crude but sweet is currently trading at eighty five dollars a barrel while brant is at one hundred seventy dollars about asian markets nosedive tried the losses on wall street japan's nikkei tumbled three point four percent in the morning session it's the lowest since it's supposed to quake plunge an arch energy companies and financial firms among the worst performers bear with oil from pegs down over seven percent miners also are also hit hard hong kong's hang seng almost five percent in the red but exporters among the main losers. in moscow's markets are going to open in one hour both the us has a nice it's close more than two percent of first day with retail stocks leading the full. form banks have been receiving from russia in recent months sweden sweed bank britain's h.s.b.c. and barclays have suspended their operations in the country but you are gong guards
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on the association of european business touts they've completely lost interest in russia's retard market. he's interesting because faith at some point in time entered into this market but you have to realize that it is also quite expensive of his vocation workforce here the processes are expensive so you really have to reach a critical mass up to everything it's great that you are starting to you have to have i mean just you have to have a clearly a minimum amount of clients and i do get there it takes time and costs money i would analyze the situation as such but these things have decided over basis they did take probably too long until they get there but it's not again it's not a decision it's a against russia is an interesting. business say from now we'll be looking at the russian markets and their reaction to what's happening in the us.
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