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tv   [untitled]    June 5, 2012 10:30am-11:00am EDT

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this is the channel from kevin i mean. these are all top stories that u.s. interest in. ever going to. information about the working of. moscow beijing continue to. visit to china reaffirm. the number of international issues. how does egypt braces for a million strong protests calling from. the muslim brotherhoods accused of capitalizing on people's anger. the presidential election dr.
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economist of the i.m.f. gives his prediction about who will be holding the reins of power in the not too distant future. i'm sitting down with our. 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. chinese leader. it's a 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 that's true but if you measure it in terms of purchasing power it's as big as the united states one second
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china is already the world's largest trade. tree china is a big net creditor to the world it finances the u.s. and the u.s. is a debtor so it's this combination of the size of the economy the fact the big trader and the fact that it's a creditor confers on it a lot of power that's today and over the next ten fifteen years all these numbers are going to go 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 swan 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 which would happen which country in the world has the
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ability to be allowed to you're not the united states china because there's three trillion dollars and when it has that power or that ability it can always exercise power what could it be political ramifications for 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 easier but but the fact that china has an 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
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money and if only china has the money. to 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 the good things that one of the reasons not to get over 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 countries you know china has more power and it could use that too and i mean like for example as i said you're on north korea or iran or you know the fact it's just so much financial power and economic power can always be used for political ends but isn't that a good thing in a sense that there it restores some kind of balance when there is not just one kid
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on the block ruling everything but there is they cared consulting with everyone else because it is dependent on another that's a that's a good point but but there are you know they can be two views on this right one view was that after world war two the u.s. was able to determine how the global economic system would function right and broadly it had a liberal view you know there should be more free flow of goods and services and so on which everyone benefited from and the country that benefited most from that was china you know the fact that markets were open so some would say that if you have one big good guy maybe it's better than having multiple guys who kind of kind of relating to you know what you can do two thousand of a very unilateral world i just that one good guy can actually turn into a bad guy at some point that's a risk that's exactly but but the flip side of having multiple you know sources of power is that you can also get paralysis in decision making so whether cooperation
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. is easier with you no one was brought or would like to you know sources of power multiple veto points making cooperation more difficult more easy is an open question you can argue it both ways but i would argue for multiple powers because when we're talking about a unilateral approach we have an example of that iraq. absolutely that's a very good point that nobody was there to stop it exactly so i think the point you know it's a very good point you make is that you know if you have you know a one one hour you know even if they can sometimes you know do takes unilaterally which are bad objectives because they want to check that the u.s. is the world's biggest debtor and it seems the main way they address the gigantic that problem is the money printing machine. has money printing become america's
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main business. well i think yes and no i think it's on the one hand you know to have printed a lot of money in the last let's say three four years you know but i think they would argue with some i think fairness that that's what you needed to get this economy back. when it went into you know the kind of great recession after the crisis you wrote a lot about china keeping their currency deliberately undervalued to preserve their competitive advantage the u.s. is terribly unhappy about that but the u.s. on the other hand is also playing with their currency constantly printing money that they don't have to pay all their debt and all that don't you see a hint of hypocrisy when when the u.s. is bashing china over their currency policy but at the same time playing with their own currency in
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a way that is not necessarily fair well i would say that you know i think there is a pattern a little but i think the past is over done the funny thing is the following that even though the u.s. has been printed a lot of money in the last two trios off the crisis the dollar has been weakened it has become stronger. so you print a lot of money if you really want to make your currency cheap uncompetitive you know you would print a lot of money but because the rest of the world still has so much confidence in the dollar when there's a crisis the oil come to dollars and the dollar becomes strong so the effect of all this printing money has not been to make the currency cheaper you know with the china's policies has made the chinese currency cheaper what you've been talking about is basically the world's confidence in u.s. dollar and dollar dominance allows the u.s. to live beyond its means essentially to some extent yet so how long can it last
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well the thing is that it cannot last indefinitely because. in my book i argue that because of this the devise of china and the fact that the chinese economy is becoming so strong it's a credit to big trade or gradually over time the chinese currency would start to become like you know kind of displace the dollar because people will have more confidence in the chinese currency then in the american currency that's going to be a gradual process and you know but at some point it could start to happen gradually and that that point you know the u.s. no longer has the ability to live beyond its means like you said because the dollar's dominant but but that's going to happen over the next ten fifteen years the i.m.f.'s traditionally been dominated by europe and the united states it was
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set up that way and he here you have this mess if that crisis in years on countries and you have the years on countries asking nine years on countries to contribute more resources to the i.m.f. to help them out do you think this current crisis could change the way the i.m.f. works to sort of shift the centers of power but it's a very good question i think to some extent it's happening already it's happening already because you know the formal voting is still very much biased as you said in favor of europe and united states but the more the more europe gets into trouble the more it will need money from the outside you know. frankly there's no border was don't have power creditors call the shots and at that stage we know europe starts weakening and it needs money from the outside and if only china and russia and brazil have the money to provide it they will ask for you know changing the system they will have more power will say well if you don't do these things we
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don't give you the money so when you become weak you know it's inevitable that power shifts away from you. and that's what the european crisis is actually galvanizing and changes in the international institutions thank you.
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it's just so. just six. wealthy british scientists i. sometimes find the. markets why not come to. find out what's really happening to the global economy
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with mike's concert for a no holds barred look at the global financial headlines tune in to kaiser report on our. listen. to. the speech. you know. i wish i. could bomb islam good. luck. just see. it and. come out of my mind i'm
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a little. with the war and the going away of the soviet union many people thought that nuclear weapons disappeared. the risk is not zero that something might be going off by mistake especially with nuclear weapons on hair trigger alert. over the weekend to use it as a threat. but you know if you keep spinning a trillion dollars a year on weapons of eventually you're going to blow everybody you know people are dying from these weapons but until we actually see if people don't wake up to nuclear weapons or a bill. that represents all the firepower of the second world war and this. is the equivalent firepower of the world's nuclear arsenal
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today. u.s. interest in june the sun takes a sinister turn. interrogated in an apparent attempt to fish out information about the wiki leaks. continue to cement their strong ties and day one of the visit to china. for a number of international issues. and as egypt braces for a million strong protests calling for mubarak sex a-q. should the muslim brotherhood's accuse of capitalizing on people's anger at the sweep aside the presidential election rival let's talk sport now and the tell us the first semifinal places will take to the french open with the details let's catch up with.
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your company again and here's what is coming up into the semi's astride in some studies an italian. the first to book a place and the last four at the french open. plus injury scare russia's first choice goalie i can fear and defender and new car during a race to be fit for the start of the european championships and shouldering hope we catch up with one of russia's youngest in peons who has the dream of winning the country's first ever white defeating gold. the first u.s. open champion sam stosur is through to the semifinals of the french open along with . me. past dominique is a ball cover for basket a six four six one this afternoon and that sets up the last four showdown with iran and we've got past the germany also in straight sets the italian reaching a grand slam semi for the first time in her career now the first of the men's
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quarter finals are underway with world number one about the joke of each and local favorite song with going head to head and it is taken the first step there convincing two six one and djokovic she is three two up in the second as well third seed roger federer is trailing argentina's one martin del potro he has a breakdown from four three down in the first set meanwhile russian pair maria kirilenko and the lever traver are through to the semi's in the women's doubles the straight sets win for them against vandy king and earlier on and coming up surely russian really never seen our party and their pairs from india in the mixed doubles and they will play the top ranks of the seals who merely in the quarter finals. has been an injury scare for russia ahead of the european championships first choice keeper eagle back in fear has developed a knee problem and is training on his own at the moment. saying the t a scar stopper has fluid on his knee and he will be monitored before russia's opening game
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against the czech republic and ross love and poland on friday defender alexander a new coffee is also recovering from a knock better news though for midfielder matt it is my last he started training again with the squad and he believes the. group which also contains greece and poland will be a tough challenge he says russia's players also have additional motivation. all of our guys play for european clubs and so people all over the world know that they know russian players therefore of course if anyone gives even a better performance here at this forum they get a better chance to go to a good club everyone knows it's the best market place there is one of the pretty tall in the favorites of the netherlands they've held their training session at their base in the polish city of crack of and they've kept the bulk of the squad that reached the world cup final in twenty ten but while they believe that will put them in good stead they are also in this so-called group of death with germany portugal and denmark. i think we have got the toughest group of this europe.
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germany is one of the favorites to go as well and we are not to underestimate denmark too but we played well in the last two matches and there is a lot of self confidence it's a long way to go. ten thousand fans turned up to watch joking lives germany. working good and skin poland. closer and lukas podolski received arguably the warmest welcome our recent injury worry blasting swine also took part germany face portugal and open on saturday and they will have to work hard if they are to qualify from green bay. it's a very tough group. strong teams like the netherlands and portugal we are also among the favorites denmark it's not very comfortable to play but. the best memory and then we have to start well against portugal. another thought the united have agreed to sign japan midfielder hugely could gather from german side dortmund for
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eighteen million dollars the twenty three year old scored thirteen goals in thirty one bundle of games for dortmund he won the league cup double last season he's currently with his national squad ahead of a world cup qualifier with jordan and told reporters the deal with united is nearing completion. i just saw the reports myself when i would just like to say that i haven't signed anything as of yet but it is true that we are working on the terms of agreement we still have two more games ahead of us so my team mates are currently looking to concentrate on the upcoming qualifying games but i will talk about it after the games so i'd appreciate your cooperation first as a member of the national team i would want to bring good results to the games on the twelfth so i ask for your help and support to let me concentrate on that mother knew about it elsewhere twice former world player of the year on dino has signed for a new side in his native brazil the thirty two year old joins us now to call me nero at least until the end of the year and we have comes less than
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a week after the forward left flamenco and sued his former club over unpaid wages the former barcelona landstar claims he's owed up to twenty million u.s. dollars moving on to basketball in the n.b.a. home have taken a three two lead in the western conference final series following one hundred eight hundred three win over san antonio the thunder becoming the first of the two sides to clinching away a big three and instrumental for the visiting side with kevin durant's twenty seven points russell westbrook twenty three and james harden with twenty the spurs manager nobody added a whopping thirty four points however that was not not enough as oklahoma now take a three team series lead ahead of game six which takes place on wednesday on their home court. to just play harder play more together. twenty two says you know russell was great i controlled a whole game both as a floor. you know and we got to follow his lead you know in which is clearly going
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to play or no one should leave everything on the floor you know yourself so you just go to keep going boxing great manny pacquiao has held his last training session before defending his welterweight title against american timothy bradley in las vegas this weekend the pair go head to head at the m.g.m. grand on saturday night paki i was one fifty four with his fifty eight bytes bradley hasn't lost any of his twenty eight professional banks but elsewhere britain's car has announced his next bike he will take on the w.b.c. super lightweight champion danny garcia from america and the early show jewel to take place on july the fourteenth in las vegas but before then karr has said he'll sit down to watch the upcoming pacquiao bad and predicts the filipino will stop his opponent. but your benefit is going to be less of me save a postponement of money pakistan's support the point is punches in and start
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catching some good clean shops i get the fire. from money. looking strong in the gym looking you know hits hard so easy and give badly a very tough test and a big very very hard b. and now finally the london olympics are just around the corner and one of russia's youngest stars in weight lifting tatiana could he clinched the country's maiden gold our correspondent constantine for top off caught up with one of the strongest women in the world. weightlifting used to be very popular in the soviet union and the names of olympic and world champions were well known around the country those helton days are over not only because the sport is no longer so popular but also because of the many myths prejudices and negative publicity surrounding weightlifting. going to now television broadcasts weightlifting only rarely people don't know about the sport and believe false stories because once
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a mother brought her some to me and said she wanted him to start weightlifting so he wouldn't grow very tall it doesn't work like that luckily one of russia's brightest stars in women's weightlifting that jameka shooting that didn't listen to all the stories and put the burden of restoring the country to its place among the sports heavyweights on her own shoulders it's hard to imagine that the woman who can leave more than twice her own body weight get involved in the sport by accident as she once knocked on the wrong door in the gym and instead of going to a dance where she went into the weightlifting room there were to me also played into this quite by accident but i have regretted it girls will be girls school even if our sport is way too little as most of us i think that regulators have strong characters that's what can scare me and i have the women haven't watched. now i believe you that it wasn't hard to discover had talent when she first arrived in the gym you could clearly see happy tension at the age of twelve when she could
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lift the whites of amateur athletes i've never had of young weight lifters who could do that anywhere in the world russia has never won the olympic gold in women's weightlifting since this board was introduced in two thousand for its own european champion and twenty ten world champion shearing or is just twenty one years old and it seems their lead from the moscow region has plenty of time to win the world's strongest woman title i give lots of respect to all my other plans always many good competitors to go and i don't compete with them and i don't really care who they are i mean bible is a barbell in my aim is to beat it as a result have become much heavier over the past two years and she holds the world record of one hundred forty she will rooms in the snatch however due to the strength of the chinese and south korean rivals even this weight might not be enough for the gold in london though the russian will be going all out to claim
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a personal best and maybe medal constantine but up of forty. that is all we've got time for for the moment sport into. well for science technology innovation all the latest developments from around russia we've got the future covered.
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zip code laboratory to look kirby was able to build the world's most sophisticated robot which all unfortunately doesn't give a darn about anything.


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