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tv   [untitled]    May 24, 2012 4:30am-5:00am EDT

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you're watching our team let's start with the headlines now egyptians are costing their ballots in the second day of voting in the country's presidential election fifteen months off for that number of former regime officials an islamist son the main contenders but fears remain that ruling military won't give up. talks resume on iran's nuclear ambitions of tehran refusing to bound a foreign pressure swap which may or incentives for more listen israel indicated a readiness to attack iran if diplomacy fails to curb its nuclear program. and outrages many s.s.
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uniforms given the history lessons to children in latvia bringing real nazi records into the next three countries again on the five the way to trace its role in world war two. we can now how washington could be undermining its only economy but pursuing its two political agenda well special interview is up next. we're sitting down with quite prestowitz founder and president of the economic strategy institute in washington he led many u.s. trade and investment negotiations with japan china latin america and europe in the reagan administration and served as vice chairman of president clinton's commission on trade and investment in the asia pacific region one of your recent articles is called trading jobs for military bases where you're basically saying that the u.s. secor five this its economic interests in the name of geopolitics. a very very good
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recent example of the obama administration has just announced a so-called pivot to asia so the idea is that the u.s. is switching the focus of us military a geo political activity from afghanistan and iraq middle east to aid to the pacific and to china to the china region and doing that in a way on their minds its ability to continue to invest to be competitive with chinese production or with japanese or other asian production well if we take china as an example we know that the u.s. administration is also going out of its way to persuade china to buy less earing in oil for example. what sacrifices could they possibly be offering to the chinese in your opinion well the try and you're right the u.s. is asking china to buy less arabian oil the us is asking china to put pressure on
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north korea to stop its missile program so we're asking the chinese to do a lot of geopolitical things what we're not asking the chinese to do is to stop manipulating their currency to keep their currency undervalued as a. subsidy for their exports we all complain about that we say fine the u.s. does complain about it their call we don't bashing china no no this is ministration tim geithner the secretary of treasury refuses to say that china is manipulating its currency he will not formally say that because formally to say it would then compel him to take some action he doesn't want to take any action because he knows that that would cause a huge conflict with china. but we heard president obama say that he put together a team to deal with right well you know very short together a team to deal with unfair trade practices he didn't say currency program
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remember that that in the world of globalization tree it is handled by the trade representative by the world trade organization trade does not include currency currency is always handled by trey's reason ministries of finance and the i.m.f. two separate tracks so what the president says he's doing with unfair trade he's not talking currency and when he talks currency he doesn't say currency manipulation because he doesn't want the conflict and he doesn't want one of the conflict because by not forcing the currency issue it makes it easier for the president has the chinese to buy less iranian or or to ask the chinese through pressure the north koreans to stop their missile. so he doesn't want that conflict because he wants them to buy a lesser wing he'd rather ask them to buy less arabian oil and he would ask them to stop manipulating. which in your view is damaging to the u.s.
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economy well i think the currency problem is a very significant challenge to the u.s. economy. and i actually think it's more and more of an important challenge than the uranian or also in one of your latest articles you imagine you try to imagine a statement by hillary clinton addressed to china. piece of it so it's quite pressed of it writing as if you were hillary clinton addressing the chinese you see our mutual friends in asia such as the southeast asian countries and japan and south korea want to keep doing business like crazy with your but also want us to be a kind of counterweights so that they don't totally fall under your influence because we're no longer economically competitive our only counterweight tall is our military which we are anxious to you know to a guy with
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a hammer all problems look like nails but we don't really think you are a nail is just that we only have a hammer now that you have pretty much taken all the other tools no tools left really well the u.s. is suffering declining economic component to so we have a big trade deficit we are heavily in debt to china to the rest of the world i mean we are we have so many areas of expertise left but our major source of international power is not economic it's military and we're a lot like actually the former soviet union. soviet union didn't collapse because it lacked military strength it collapsed because it lacked economics for the same things happen to notice this. i think it's collapsing well not not collapsing just yet but it's not only a good trick maybe someone in the administration behind very closed
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doors would explain to you that it's how the u.s. is protecting its economic interests through military means what would you say if you heard that explanation let's look at the so-called the the new pivot to asia. we're beefing up our military deployments in the western pacific there's no threat to us the western pacific china is not going to invade the united states north korea's missile can't reach the united states american oil doesn't come through the straits of malacca so what's the threat how is it that this military deployment is protecting our interests. i don't see it i mean i think it's an infatuation with empire i think it's infatuation with the exercise of power it's a legacy of the second world war and of the cold war and we have a big national security machine. and that machine is powerful politically and our system and it looks for ways to make itself useful and so that's what it does
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but it's not clear to me that this is in the interest of the night is that the incentives in the system right now are for the production of tradeable gurlitz the provision of tradeable services to leave the united states the united states is not pursuing any of the policies necessary to reverse the incentives because its total focus is on the geopolitical. priority because it's all about military bases and expanding u.s. military around the globe it's all about maintaining the primacy of the u.s. national security establishment now at the expense of the u.s. economy yes in terms of jobs but not the interests of big corporations well also the interests of big corporations why global companies can achieve
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a short to medium term benefit by moving production to china or elsewhere where they get big subsidies and incentives however typically when they make these moves they also are compelled to transfer technology and what we've seen in many instances in the past is that and this really they seem to do well but as they transfer technology meet. other competitors crop up and begin the caucus up over take them and so they do well for five or ten years and then suddenly they're out of business let's go back to to the sekret feiss and concessions that the u.s. makes in the name of geopolitics as you were arguing the subject you brought up is very interesting and i want to talk a little bit about the gulf region the u.s. has a vast military presence there and it's building up in terms of let's say political concessions one example is bahrain when the u.s.
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basically has eyes wide shot human rights violations there arguably because of its fifth fleet that bahrain hosts and you were talking about economic concessions don't you think they go hand in hand with the you was breaking its political principles as well oh yes i do know i mean i think the situation in bahrain is extremely painful to the us. i mean we in terms of human rights we clearly should be on the side of the shiites but we've sided with the ruling sunni. regime because of the base of the of the sicily. in the gulf. and so yeah i mean i think we compromised. so it's not just economic concessions that the u.s. makes but also political well something. you know some kind of compromising of our
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own principles something i know that. in all conversations i had with economists in america at a very high level of concern about china a fear of china's dominance if you will i want to understand what is at the root of the problem is is it just money it is just money in the economy one would argue the u.s. and china are very mutually dependent so what is there to be really concerned about though no actually that there's so much fear of china i think there's more fear of the future of united states i guess the way i would say it is this. you know if you i mean if you play the card game bridge. but if you think of globalization like a game of bridge and you say that you know each country has a head of cards and you ask yourself which country has the best hand you know if
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you were playing the game whose hand would you like to have. and if i look at all the cards i would say well the united states still has a lot of good cards i'd probably prefer to play the u.s. hand but in bridge you can have a really good hand and you can still lose if you play badly. and right now i would say the united states is playing very badly we're not playing our cards well we're not playing our cards well because we have focused on this geo political priority on this military national security priority we keep playing the great game we keep putting troops in afghanistan and the fleets in the persian gulf. pivoting to asia while other countries like china like brazil like germany are focusing on investing and educating and innovating and becoming more competitive but we're not
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doing and i think that is the source of concern and worry in the u.s. thank you very much ok good to see you. there hasn't been a thing yet on t.v. . it is to get the maximum political impact. before source material is what helps keep journalism honest we. we want to present. something else. wealthy british style.
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markets. come to. find out what's really happening to the global economy with mike's conjure for a no holds barred look at the global financial headlines tune into cars a report on our. secret laboratory to mccurry was able to build a most sophisticated robot which fortunately doesn't give a darn about anything tim's mission to teach me the creation of why you should care about humans and world this is why you should care only dot com.
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addictions are cost. their products in the second day of voting in the country's presidential election fifteen months after the fall of hosni mubarak number of former regime officials and islamists are the main contenders but face remain that the ruling military people. talks resume on iran's nuclear ambitions tehran refusing to bow to foreign pressure and swapping the rich in ukraine for incentives from more u.s. and israel have indicated their readiness to attack iran if diplomacy fails to prove its nuclear. and outrageous of many s.s. uniforms give history lessons to children in latvia about bringing real dancing weapons into in this country is again on the five for the way it betrays its growth which. pulls him down with all the sports.
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thank you very much kerry welcome to the world of sports hey is what's coming up injury wise a stomach bug grows to find our munchies came out of your i twenty twelve as the injury problems mount up for russia manager take out the car. awarding excellence the k h l z a cream of the crop around it in the russian capital with newly crowned champions drama moscow taking center stage. to bolt from the blue the world's fastest man you say involved prepares to race in europe for the first time a season as he continues his build up to the london olympics. but first football in russia as a defensive problems ahead if you are twenty twelve continue manager dick advocaat confirming on thursday that room and she has been ruled out for the tournament she
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too a stomach problem the lokomotiv moscow fullback has been forced to miss training for the last couple of days after he came down with a stomach complaint however it was more serious than was initially thought and after the twenty five year old started to lose weight and showed no improvement in his condition the decision was made to leave him at home this is a further blow for advocaat off the central defender personally but as it ski but also missed the tournament with a thigh injury but it's by the loss of two defenders russia's head coach isn't panicking yet. you know this region that we've rolled in twenty six places. so still one has to go. now after russia's success at the recent ice hockey world championship last night it was the stars of the domestic game who were lauded for their achievements the cream of the k h l crop gathered to mark the end of the season with a lavish award ceremony in moscow the most prestigious prize going to alexander radulov as he was named the leagues and the pay this season's surprise package and
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the current one is the number moscow were in the spotlight or legs not uk who inspired the blue whites to clinch their made in k h l trophy it was honored as the best coach while alexander at a mentor was named the best goaltender his teammate cal and he said we discovered his scoring touch letting fourteen goals in the playoffs was included in the season's best side meanwhile those who had little to celebrate domestically this season with a disappointment to one side to celebrate russia's world championship win on sunday . for the. two years ago i won the prize but my team was defeated in the finals this year it's more special because we won the cup i think all the individuals we've received tonight because of our great teamwork this season. it wasn't the best season for scars as we feel to grab a cup however it's always a pleasure to get a word i'm very happy to be chosen for this season's best team but winning the
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world championships everything. it is so the k h l is over for another season development will be looking to defend that title when the new campaign begins in september but for now let's look back and enjoy some of the spectacular moments from the playoff series just gone.
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they live. live. live. live. live . live. live. live.
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live live. live live . live live live
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. now to the olympics and backers paid to host the twenty twenty summit games has been unsuccessful the azerbaijani city along with doha failed to make it through to the next round of the bidding process istanbul tokyo and madrid are the three remaining options madrid spain is still being considered even though spain is the only pitting country currently in recession we also assess the fact that madrid as good a lot of infrastructure. pay docked with the investment as i've done in the past for sport infrastructural but also all the general infrastructure so it's not many infrastructure to build so the risk of mad read concerning the infrastructure to be delivered is low now staying with the an epic fame and three time champion you saying bowl continues his preparations for the london games this weekend he's
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taking part in the di mentally meeting in the czech republic but both will also compete in rome later this month and then also in june before returning to jamaica for the national trials on the world record holder in the one hundred and two hundred meters is confident he'll retain his titles. you know whether you know for sure. i want to be. a big so. i don't want to say this is a good start should be or good but i don't think it will be this race now in the n.b.a. philadelphia have tied their best of seven series against boston in the eastern conference semi's the seventy six ers support at home waiting game six eighty two points to seventy five through holiday was the top score for the hosts with twenty points that means the series will go to the final and decisive seventh game in boston on saturday. why would. they have a lot of energy tonight
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a lot of energy from the bill. and. you know i just thought their plight is my just you know fortunately they missed free throws this eleven free throws. finally to go for the battle for the world number one spot could unfold this weekend at the p.g.a. championship with rory mcilroy looking to outdo the reigning champion luke donald and remain at the top of the rankings the northern irishman needs to win the tournament to ensure he holds off donald if the englishman finishes at least runner up at wentworth then he'll become the world number one while if u.s. open champion mcelroy this is the cards as he did at the players championship a fortnight ago then an eighth place finish or better would do the job for donald. well that is all the sport for now
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a lot more for you and at least under two hours time. today violence is once again flared up. these are the images. from the streets of canada. operations.
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you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harvey welcome to the big picture.

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