in china says about china? >> there are different parts of this. there is the ambition to build aviation aircraft. in the last 30 years, as you well know, china has accomplished one kind of miracle. it's taken hundreds of millions of people from being peasants and making $100 a year to being factory workers and having this kind of 19th century, densian or upton sinclair factory life in china. more people than there are in the u.s., a couple of hundred million people. there are still a lot of poor people but a lot have been improved. there is a lot of concern in china whether they're hitting a wall or plateau, whether if they do more of this current model, just building things and having outsource factories, whether they're ever going to get richer than they are now or just bigger. the current 12th five-year plan, which i think i have discussed with you in the past-- has a big push for what they think of as the industries of the future-- pharmaceuticals, info tech, clean energy, and aerospace. these are the area

china and russia china relations coming up. i'm sitting down with arvind subramanian leading economist fellow at the peterson institute for international economics and the center for global development. at clips living in the shadow of china's economic dominance. chinese leader. is here really dominating i mean many in the u.s. would say that the u.s. is still the richest country in the wall that is the most powerful economy at the moment china's g.d.p. for example is smaller than that of the united states. but if you measure it in terms of power it's as big as the united states second china is the world's largest trade. tree china is a big creditor it finances the u.s. and the u.s. is a debtor so it's this combination of the size of the economy the facts a big trader and the fact that it's a creditor confers a lot of power today and over the next ten fifteen years all these numbers are going to be in china's favor so the china is going to become an even bigger economy than the u.s. and even bigger treated in the u.s. and conti

no to china china can nort assert all is so frantic aims over this off china sea and vietnam can also be packed up by the americans military power to counter china's military dominance in the region so what's going to get in return for granting access to u.s. warships. i think there should be some financial aspect involved but apart from financial aspect i believe the vietnamese and the american government should have certain agreement all on some joint oil exploration and touring and we find the repro jazz and of course they will be in having agreement on. security agreement or for the whole of solve china sea so why would smaller countries in the region be eager to give up china as a key ally and not for the u.s. instead. i think for themselves trying to see as i said is a major irritant for china and southeast asian countries and i think i would not say that this office asian countries this more powers would like to give up china but they would like to invite the united states to join in the arena so that they could have more bargaining chips against china ok we'll have to leave it

making a joke and i think china is watching germany very closely and china is maybe one of the strongest industrial nation are now in asia so they don't want to be like germany basically paying for everybody else and bankrupting themselves in the process and so i think maybe some time off is that monetary union but i do thing that china realizes at some point they have got to let the dollar i mean with all their reserves and dollar and euro which is somewhat of a problem for them they have got to let some of that fall write it off and focus more and more on that a mistake economies and the remnant of the rise of exports more difficult but that will come anyway as the best and countries are relatively low dollar and so they're focused more on the domestic economy and then some sacrifices are being made by yeah common currency so far maybe that's not going to happen ok derek if i go back to you martin brought up something that i'm beginning to hear now that you know maybe a year ago two years ago that the chinese would never write off american debt but now you know they have so many reserv

wants china to be on its site and you know if china were to sit take north korea for example you know the great example you know if china were on the side of the u.s. . things would be so much easier but the fact that china has no independent view on north korea makes chinese american dealings with north korea that much more difficult in fact in my book i begin my book with a kind of fantasy scenario where i say that you know ten years from now if the united states gets into so much economic trouble right that it will have to borrow money and if china has the money. provide the u.s. china might say well we don't like your military presence in the pacific your naval presence and you have to you know get rid of them so economic power can always be leveraged for political and foreign policy objectives good things that one of the reasons not to get for kind of anxious about this is that it is a mutually dependent relationship you know so one country doesn't want to inflict too much damage on the other because it backfires on yourself but that being said there are areas where you know some

over the south china sea. this document was supposed to long ago have resolved this amongst the players in the south china sea and not one person has been able to give me a specific example as to one of these tensions or one of these disputes that's been resolved. >> with respect to the south china sea. it's for very obvious reasons. we'll have plenty of testimony that will show you the ways in which on an every day basis countless decisions are made which create rules of the road. admiral papp testifieded to that. which lay out the rules of the road which assisted and avoided conflict and dozens of examples where conflict is avoided or various thorny issues are resolved by virtue of people being at the table. we've had arms control agreements between the united states and the former soviet union and we didn't always have a resolution as a result of it but ultimately we found a forum or mechanism to try to move forward. i guess it's a fundamental belief about whether you think it's better to have some structur

treaty china is.

our signal to china and china can nort assert all is so frantic claims over this of china sea and vietnam can also be packed up our by the americans military power to counter china's military dominance in the region the south china sea has been a very important astrological creation for number one connecting oil shipping routes from the middle east to east asia number two all saw a very important commercial shipping routes for all the east and southeast asian nations to solve china sea has been a very important irritant for china and southeast asian nations international relations for the past decade. don't forget all stories we're covering also available anytime online and his mother's that we've uploaded ready to go for you right now if you get a minute i don't see don't call it a life sentence for a russian man as that libya convicts several people for allegedly helping ex leader moammar gadhafi but the people charged insist they're working as engineers it will warm up story it's online right now. and russian billionaire tycoon mikhail prokhorov playing a big party a political one that

us like no two china china can north. all is so frantic claims over this of china sea and vietnam can also be packed up our by the americans military power to counter china's military dominance in the region the south china sea has been a very important astrological creation for number one connecting oil shipping routes from the middle east to east asia number two a small saw a very important commercial shipping routes for all of the east and southeast asian nations the south china sea has been a very important irritant for china in southeast asian nations international relations for the past decades don't forget all the stories we're covering also there but any time online this is what got uploaded ready and waiting for you right now at the dot com. twenty ten you may recall. he passed away in. his success online. sporting a big political one that is after securing six million votes in russia's presidential election discover the details of our. protests are continuing in cairo's tahrir square as demonstrators demand the

the link-up in space marks china's first manned docking. it'she third country to do this after the united states and russia. chinese leaders are aiming to build a permanent space station by 2020. >>> diplomats are meeting in moscow to argue over the future of iran's nuclear program. representatives of seven nations are in the russian capital. it's their third round of negotiations since april. they are trying to sort out their differences over the iranian government's uranium enrichment program. eu foreign policy chief catherine ashton and iran's top nuclear negotiator saeed jalili are participating in the two-day discussions. negotiators from the united states, russia, china, britain, france and germany are taking part as well. the group is sometimes referred to as the e-3 plus 3. >> what the e-3 plus 3 is looking for and hoping for is that the iranians will seriously engage on the set of proposals that we put on the table in baghdad. >> foreign officials want iranian scientists to stop enriching uranium to 20%. experts say once the materi

. >> if europe slows down and buys less from china, then china will slow down. if china slows down, they have less euros and dollars to invest, maybe they buy less u.s. treasuries. >> reporter: spain is under strong pressure from the united states and other countries to have a solution in place before june 17. that's when greece will hold parliamentary elections and it could determine whether the country stays in the eurozone. erika miller, n.b.r., new york. >> tom: still ahead, a bullish outlook on u.s. stocks in spite of all the trouble brewing in europe. that's the forecast from tonight's market monitor hank smith. "nightly business report" is brought to you by: captioning sponsored by wpbt >> tom: hopes over a spanish bank bailout helped stocks finish the day higher. the dow gained 93. u.s. sales to euro-zone countries fell almost 10%. european imports to the u.s. for the week, the dow is up the nasdaq gained 4% the s&p 500 up 3.7%. while stocks shook off the european worries this week, one place we can see the impact of europe is in u.s. trade numbers. the

to contain china wants to encircle china and keep it subservient to us the states seeing that the us a so many economic and business interests in china it wants to keep china obedient to whatever dictates that you have chosen in ice in store for china so all the treat the allies from japan south korea australia the philippines are being mobilized right now to encircle china and keep it subservient to us dictating interests alright reinado ras the secretary general of the bond coalition which opposes u.s. presence in the area thank you. thank you very much so moral news in brief for you this hour a taliban suicide bomber disguised as a woman has blown himself up in eastern afghanistan for french soldiers were killed in the explosion and five others wounded it was the second deadly assault on saturday against nato forces france plans to withdraw all of its combat troops by the end of twenty twelve two years ahead of the planned pullout agreed by the alliance. a lawyer for the international criminal court has been detained in libya after meeting with gadhafi son saif al islam officials

imitating china is not the best way to compete with china. this is particularly true for energy technology subsidies as we were to get our debt under control. i have long advocated for the sustainable approach. i hope that we continue to gain in traction in that direction. beyond spending, we need to be careful about following the energy policy. a source of renewable energy have displaced several million people from their homes. the solar panel factories do not run on solar power. we have a proud history of improving in burma performance. biofuels have played a role in raising our food prices. we currently have no plan for kern and disposal of our nuclear wastes and the transmission lines to connect renewable assets to the grid has resulted in some controversy. i raise these issues and not to throw cold water on enthusiasm but perhaps to provide some context and a reminder to the specific challenges that we face. it is my hope that this serves as the basis for understanding how conscious we must be about accepting some of these simple narrati

working with other partners undermine china's claims to certain disputed territories china is seeking to defend itself it does not have a global ambitions with its military unlike the united states which has a thousand military bases located in one hundred thirty countries china is basically concerned with its own economic development of course as a major power but they see the united states' plans their pivot towards asia is something very threatening. back are from answer coalition live with us on the line from washington thanks for that. the attention of wiki leaks supporters has now shifted to an american military court where u.s. army private bradley manning a suspected website contributor faces his latest hearing he's suspected of the biggest leak of government documents in u.s. history a charge his lawyers hope to see dismissed however as artie's medina cost of explains there are some leaks that will always go unpunished. from a former cia officer who question waterboarding to suspected we keep small bradley manning the obama administration has wasted an unprecedented war on wh

a signal to china and china nor to assert all is so frantic claims over this of china sea and vietnam can also be packed up over by the americans military power to. dominance in the region the south china sea has been a very important strategic location for number one connecting oil shipping routes from the middle east to east asia number two a small sole of very important commercial shipping routes for all the east and southeast asian nations to solve china sea has been a very important irritant to for china and southeast asian nations international relations for the past decade. don't forget all the stories we're covering also any time. this is what we got uploaded ready for you right now just a few clicks away sentences rushed by the russian and ukrainian citizens who insist they were working as engineers for helping out. tonight's a story just coming through. planning a big party a political after securing six million votes of course in russia's presidential election but what about that as well online. protests are continuing cairo's tahrir square as demonstrators there demand the

at the moment china's g.d.p. for example is smaller than that of the united states that's true but if you measure it in terms of parts seem power it's as big as the united states one second china is already the world's largest trade. treaty china is a net creditor to the work it finances the u.s. and the u.s. is a debtor that's today and over the next ten fifteen years all these numbers are going to go all in china's favor so the china is going to become an even bigger economy than the u.s. . we mentioned syria just now and the u.n. chief has rejected calls from syria's rebels to impart impose a no fly zone over the country to help bring the president assad that the mindful of the statement from the fighters saying they're no longer committed to the international truce plan proposed by special envoy kofi annan the rebels claim dozens of government soldiers were killed in clashes in attacks on security checkpoints over the last few days violence comes amid growing voices from the u.s. and its allies for the action

a signal to china china can nort assert all is so frantic claims over this of china sea and vietnam can also be packed up our by the americans military power to come to china dominance in the region the south china sea has been a very important past raji take location for number one connecting the oil shipping routes from the middle east to east asia number two baseballs saw a very important commercial shipping routes for all of the east and southeast asian nations the south china sea has been a very important irritant for china and southeast asian nations international relations for the past decade. don't forget all the stories we're covering also available any time from us online as well some loaded and ready to go right now dawtie dot com. to troll all the sensational soviet singer of his day infusion of twenty ten with twelve million hits he's passed away and sent peters but we chart his success on the line also the chinese bus driver who saved all twenty four passengers despite being stuck by a piece of iron that smashed through the window ouch details about that as well amazing pi

china you know. what it says that. for this includes. and. it wants to get used american influence in issue while india is happy to have partners to advance their arsenals many observers are watching the american interest with caution is one of india's biggest trading partner i mean we are neighbors big on each other. we should not be made a proxy rather power sooner. and i we should not frighten the buttons of americans and with americans i think got a big lining. it's a declining super bowl. and be able to. hold their ground and they ship by sort of medium as the united states continues to buddy up to india it looks like it could be using their new found friend to bully its enemy preassure either r t new delhi india. now look at some other top stories from around the world the white house has confirmed the death of al qaeda second in command after u.s. drone attack in northwest pakistan on monday. maybe was the target of the missile which hit a militant compound killing fifteen people tensions have increased between pakistan and washington

challenging the growing military muslin economic expansion of china. explains the world's got its eyes on india it's the planet's biggest arms importer and is set to spend one hundred billion dollars on beefing up its military arsenal over the next decade while many weapon makers from far and wide are lining up to cash in on this need to modernize the united states's dash to the front of the pack. through farmed america. ships. through the movie to many it's seen as part of the u.s. is bigger shift towards asia one that its defense secretary leon panetta is now touring the region to actively engage in a january report issued by the american government of china is listed along with iran as one of the us is biggest adversaries the report also specifically singled out india as the main country washington would pursue as a strategic partner in the region the united states has already been thinking better of the amount of energy strengthening military ties with india it just told them time military transport planes for four point four billion dollars india

. >> reporter: japan and india are not the only country wary of china's moves in the east and south china seas. msdf crews are preparing to begin three-day exercises with u.s. and australian naval ships on wednesday. the joint fleet will practice anti- submarine warfare. >> we are trying to have a joint peace. >> reporter: these drills will help their personnel build up their skills and at the same time they say it's a chance for them to strengthen ties with their allies in the region. >>> it's been a manic few days for investors and financial leaders. we now take a look at the business desk. it's only wednesday today but seems like it's been a full week. >> seems like a new crisis every day. it gives you an idea what the leaders are dealing with every day. there was an emergency conference call yesterday and the group of seven industrialized nations reaffirmed their stance to deal with the european debt crisis. the finance ministers and central bank governors of the g7 major economies held an emergency conference call on tuesday. japanese, u.s. and canadian officials reportedly urged eur

or do we want to cooperate with china in developing. the new technologies we're going to need to save ourselves and to prosper in the new century. i work with the national priorities project and one of the tasks they do is is to show exactly how much money is being diverted to military spending from every community in america and people could go to the. national priorities or argy and find out where or how much money from their neighborhood their town is being diverted for that purpose what what makes you hopeful right now michael klare. assuming that you are what makes me hopeful oh yes what makes me hopeful tom is and i'm so grateful that i'm a college teacher and i'm exposed to young people all the time because they make me hopeful my students are absolutely determined to solve these problems and they are absolutely and completely working every night and day looking for solutions and that's what makes me hopeful that the young people of this country and young people around the world for that matter are you know they're not just wring

that is not china and in terms -- china has a long ways to go. is there hope or can they become a reserve currency to decouple or remove themselves from the vulnerabilities of relying on other countries? yes i would say that is true. if you look at reserves, by india and brazil the economies on the emerging markets they are increasing their amount of holdings, not just in terms of reserves but in terms of the assets assess whether its gold assets or in terms of the assets around the world. i think part of that, large part of that is they don't want to rely on the imf or the u.n. for bailouts. so very significantly there is a shift away from that. i too think also there is sort of a decoupling or a schism emerging between the emerging and developing economies. we have heard of the britain banks. there is a swap that china is doing using the -- more than relying on western currency to give the dollar. i don't think that is going to happen in great extent very soon because this sort of financial infrastructure required to have currency, china is way

many traders would argue that in china and cold, china is set in the prices. >> is any way to control demand and supply said that china does not become the only player in the game if indeed it has not become so already. >> what we are and seeing is a clear delineation between their approach which is very multi lateral, very engaging, and i would say symbiotic in the sense that the host country and china benefit from engagement. china provides them with investment capital, trade, and large capital flows that are used to support budget balances in these economies. in return, they're happy for china to engage and for them to mortgage off their assets. this is a very different approach from we have seen from the u.s. and her allies, which has tended to be a much more unilateral approach and focus on military action, such as what we have seen in iraq recently. >> the u.s. and western countries focused very much on china's human-rights record and it seems that these other countries perhaps don't focus much on that. >> because actually, with places like africa and across the middle east, 60%

china operations are all today. the u.s. and its allies are preparing for syria's transition of power the white house says president assad handing control to the opposition will bring an end to the fifteen months of bloodshed a number of western and arab states have long been pushing for regime change while assad has maintained his nation's real war comes from outside meanwhile reports of a merge suggesting britain is planning to set up camps in syria with troops in agents will help the rebels fight against the government. believes that would only make matters. i think it would actually increase the likelihood of revenge killings kind of sectarian tension along mixed areas where. revenge operations would start to happen more and more people and i think syria now is that tipping point where the conflict can be pulled back from a. sectarian civil war to kind of some form of political framework but once there is actively groups on the ground in syria and whatever kind of formula they are there they are likely to increase the pr

imitating china is not the best way to compete with china. and this is particularly true for energy technology subsidies as we were to get our debt under control. i have long advocated for funding efforts from conventional energy resources. this is a far more sustainable approach than the one taken by china. i hope that we continue to gain in traction in that direction. beyond spending i think we need to be careful about following china's more progressive energy policy. an example would be the three gorgeous dam. a source of renewable energy but it has displaced people from their homes and communities. chinese production for clean energy technologies has had negative impacts on their country's air and water quality. the solar panel factories don't necessarily run on solar power. but having said all that, i think we also recognize that our country's policies are not perfect either. even here at home where we have a proud history of improving environmental performance, biofuels have played a role in raising our food prices. we currently have no

no two china china can nort assert all is so frantic aims over this off china sea and vietnam can also be packed up out by the americans military power to counter china's military dominance in the region the south china sea has been a very important and vast raji take location for number one connecting oil shipping routes from the middle east to east asia number two a small sole a very important commercial shipping rules for all of the east and southeast asian nations the south china sea has been a very important irritant for china and southeast asian nations international relations for the past decade. so forget all the stories we're covering are also available anytime online here's what's uploaded and ready at our t. dot com right now one sentence for a russian man as libya convicts over twenty people for allegedly helping acts leader moammar gadhafi but they insist they were working as an engineer or at our t.v. dot com. trust him billionaire tycoon mikhail prokhorov is planning a big party a political one that is after securing six million votes and russia's president selection you

i'll show china as the they are. if you're not willing to stand up to china you'll be run over by china and that's what's happened for 20 years. >> cenk: "washington post" said in a new article, do you want to see the headline? it says, romney's bain capital invested in companies that moved jobs overseas. it says that it owned companies that were pioneers in the practice of shipping work from the united states to overseas call centers and factories. what about all that talk, i'm not going to let them out until i'm making a lot of money from it, which did he. let me show you some of the companies that bain ran. they have stream international inc. which did a lot of outsourcing and led to modus media, which did a gigantic amount of outsourcing. they got this from 15 years of sec filings. this was when mitt romney ran bain. now, this is a lot of outsourcing, but he didn't really send jobs to china. he's so clear. he doesn't want jobs to go to china. let's look at jobs they outsourced to. china, how the hell did that hap

china with its own ethnic problems is reluctant to encourage separatist movements. given that background there's little chance kosovo will win u.n. membership. the country is also barred in taking part in the upcoming london olympics. >> translator: it is unfair to prevent talented kosovo athletes from taking part in the olympics under the national flag. i believe kosovo's independence has helped the region's stability and prosperity. i want to call on countries that have yet acknowledged our independence to do so. >> he said he's committed to building economic ties with japan. kosovo's per capita gross domestic product is about 2,400 euros, only 10% the eu average. unemployment is about 40%. japanese business has been slow to invest. not a single japanese business has set up operation in the country. >> translator: japan has provided the most assistance for kosovo. i now look forward to more investment. i want japanese people to know that although kosovo is a small country, there are a lot of big opportunities there. >>> north korean leader kim jong-un has outlined

cannot sanction china because china holds three trillion dollars worth of u.s. bonds and dollars and china could quite easily get back at the u.s. . a different variety of ways that will happen also the u.s. market is the biggest buyer of chinese manufactured goods so that deal is not going to go down and if china and india refuse this it would have been a nonstarter from the from the very beginning so perhaps it would have been better for the obama administration to admit that it made a grave mistake but you can't paint too much mind to media and probably city you've seen what's been happening in syria and the public city surrounding that and seeing a very red faced hillary clinton we are in a very delicate time in terms of global financial transactions and it's not prudent to proceed with thought out actions such as taking unilateral action signing it declaring your natural sanctions against iran and threatening other nations the u.s. is for all intents and purposes bankrupt with a hundred trillion dollars worth of debt i don't know you know i don't know who i

in china so. china is going to become an even bigger economy than the u.s. and even bigger treated in the u.s. and continue to be you know financing the u.s. so that combination is what is making china very dominant let me give you one example one example so take the fact that china you know finances the u.s. right or to so much cash three point three trillion dollars worth of cash if europe gets into trouble oh no it happened which country in the world has the ability to be allowed to your the united states china because this three trillion dollars and when it has the power or that ability it can always exercise power what could be political ramifications that as far as crucial foreign policy issues for example over syria will the u.s. pay more attention to what china thinks about certain issues well if you take you down for example i think it's you know the u.s. wants china to be on its site and you know if china were to sit take north korea for example you know it's a great example you know if china were on the side of the u.s. . things would be so much e

and i want to emphasize, not just china. i remember in february of 2009 i was invited to a white house meeting to discuss the future of green technology in the obama administration. and there was a debate between those who in the administration who wanted to become proactive with various kinds of incentives to promote green energy and other market -- traditionally, market-oriented officials who argue that we don't want winners and lose hers, that we should rely on the market. and the point i made in that discussion was, are you kidding me? i look around the world and i see germany has a huge program subsidizing solar technology, denmark has a big program subsidizing wind powered technology and japan is doing solar and wind power and korea is doing batteries and china is doing batteries and wind power and solar. i said, that's the market. and so when you say, leave it to the market, you're saying, leave it to the tender mercies of german, japanese, norwegian, industrial policy. and so when we ask ourselves what -- is it an ap

china. trade. treaty china. the u.s. and the. combination of the size of the economy the fact trader and the fact that it's a credit to. a lot of power today and over the next ten fifteen years. both are going to go all in china's favor so the china's going to become an even bigger economy than the u.s. and even bigger treated in the u.s. and continue to be you know financing the u.s. so that combination is what is making china very dominant let me give you one example one example so take the fact that china you know finances the u.s. right or to so much cash three point three trillion dollars worth of cash if europe gets into trouble it which would happen which country in the world has the ability to be allowed to your the united states china because this three trillion dollars and when it has that power or that ability it can always exercise power what could it be political ramifications that as far as crucial foreign policy issues for example over syria will the u.s. pay more attention to what china thinks about certain issues

half of china. today, not too heavy, though, but heavy rain will target hunon province tomorrow, as much as 100 millimeters of rain is possible over a span of 24 hours. then down toward the south, the indochina peninsula has been dealing with torrential rain, lots of floods and landslides have been occurring. unfortunately, the heaviest rain will likely continue in parts of the southern areas of thailand today. as much as 116 millimeters of rain has been already falling, however, more rain will be coming down at least for the next couple of days. temperature-wise, 35 degrees in bangkok and 32 in hong kong. reaching 33 degrees in beijing, and the same goes for shanghai. tokyo coming up 27 degrees. it will cool down to 20 degrees as we head into saturday. all right. heading over to the americas. we can see bright clouds over the plains. underneath the clouds we're seeing lots of active weather. the risk of severe weather will remain in north dakota down toward colorado. we have tornado warnings and wa