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Search Results 0 to 49 of about 1,814 (some duplicates have been removed)
Nov 10, 2012 6:00pm PST
at work. >> i'm astound by the response from new york. >> axelrod: challenges facing china's new leaders. bill whitaker shows us just how far the country has come in a single generation. and take a look at the latest muscle car. you won't believe whose muscle created it. priya clemens introduces us to the design team. captioning sponsored by cbs this is the "cbs evening news." >> axelrod: good evening. i'm jim axelrod. we are learning more tonight about the investigation that led to the abrupt resignation of c.i.a. chief and retired four-star general david petraeus. petraeus admitted to an affair and submitted his resignation to president obama, and now it turns out, it was the f.b.i. that discovered the relationship was with his biographer. homeland security correspondent bob orr is standing by in washington tonight. good evening, bob. >> reporter: good evening, jim. well, david petraeus is one of america's most decorated and reveered generals. as head of the c.i.a., he was in charge of the nation's most sensitive operations, but the ridgedly disciplined p/e was hiding his own d
Aug 10, 2017 6:30pm EDT
. president trump today said china, north korea's only ally, can do a lot more to resolve the crisis, and he said he thinks china will. he even suggested he'd give china a better trade deal in return. cbs news correspondent ben tracy is in beijing. ben, how likely is it, do you think, that china will step up? >> reporter: it's not likely on china for about 90% of its trade, but it's unclear at this point how much north korea will even listen to what china says. in fact, the regime is very upset with china because it went along with those tough u.s. sanctions. now, theoretically, china could cut off north korea's oil supply and eventually that could cause the regime to collapse. but the fear is that you would then have refugees streaming across china's border, and that's not something that it wants. even more so, if there is a war on the korean peninsula, china believes that south korea and the u.s. would eventually win that war, and the u.s. military on china's border is not something it's going to tolerate. >> mason: ben, what about china's relationship with this white house? >> reporter
Apr 29, 2012 6:00pm PDT
increasingly is targeting the young, and should be treated in a new way. tony guida has details. in china, a blind dissident's apparent escape to the u.s. embassy could complicate diplomatic relations. celia hatton and whit johnson have the latest. >> a van crashes near new york's bronx zoo killing seven people including three children. terrell brown reports from the scene. and riot radio, 20 years after the deadly turmoil in los angeles, john blackstone takes us to the radio station that opened its phone lines and gave people a voice. >> stop it, people! stop it! we've got to be together! >> this captioning sponsored by cbs this is the "cbs evening news." >> jeff: good evening, everyone, i'm jeff glor. we begin with a growing epidemic among american children. and tonight a new recommendation on how hundreds of thousands of those kids should be treated. we're talking about type ii diabetes, a problem that is confounding more doctors, families and health care professionals every day. now the release of a new report offers new insight. here's tony guida. >> reporter: type ii diabetes was never
Aug 5, 2012 6:00pm PDT
runners. and inside look at how china churns out young olympians. and mission to mars. counting down to the landing of nasa's newest rover curiosity. those stories when the "cbs evening news" continues.Ñii] wow. that was fast. this is the check i've been waiting for. mom had a guaranteed acceptance life insurance policy through the colonial penn program, and this will really help with the cost of her final expenses. is it affordable? it costs less than 35 cents a day-- that's pretty affordable, huh? that's less than the cost of a postage stamp. so, you said it was guaranteed acceptance? yes. it's for people ages 50 to 85. there's no medical exam or health questions. you can't be turned down because of your health. it fit right into mom's budget and gave her added peace of mind. you should give them a call. man: are you between the ages of 50 and 85? for less than 35 cents a day, you can get guaranteed acceptance life insurance through the colonial penn program. you cannot be turned down because of your health. there are no health questions or medical exam. your rate will never go up, a
Jul 4, 2017 5:30pm PDT
presidents of russia and china urged a freeze on both north korean testing, and on u.s. military exercises with south korea. the aim of a freeze would be to buy time for all sides to negotiate a way out of an impending collision between donald trump and kim jong-un. ?laine? >> quijano: david martin, thanks. nan tracy in beijing has more on the role china may play in this. >> reporter: north korean state television's most famous news anchor triumphantly announced what the country called "an historic event." and just moments later, the chinese government urged restraint. a foreign ministry spokesperson said north korea should stop violating security council resolutions, but in an apparent reference to the united states, siid all relevant sides should raing things back to the track of peaceful settlement via dialogue. president trump took a much different approach, tweeting, "perhaps china will put a heavy seve on north korea and end this nonsense once and for all." tina feels it has already done enough to try and rein in its rely. it's stopped buying coal from n rth korea, and has
May 12, 2013 6:00pm PDT
spotlight on how american movies are changed before they can open in china. captioning sponsored by cbs this is the "cbs evening news." >> jeff: good evening, everyone, i'm jeff glor. outrageous and chilling. two of the words used today to describe what was happening at the i.r.s. after we learned the agency singled out conservative political groups for extra scrutiny. tonight republicans are calling for a full investigation. and bill plante is at the white house has reaction. >> reporter: new revelations about i.r.s. targeting of conservative advocacy groups raise the level of outrage today across the political spectrum. >> this is not tolerable. >> this is truly outrageous. >> i don't care if you are a conservative, liberal, democrat or a republican, this should send a chill up your spine. >> reporter: the white house said the president expects swift action for any misconduct. but also noted that the i.r.s. is an independent agency. nonetheless, senator susan collins called on mr. obama to apologize. >> but the president needs to make crystal clear that this is totally unacceptable in
Jul 28, 2012 6:30pm EDT
relief from tough headaches. >> in china today, angry protesters took to the streets over the issue of pollution. the demonstrators say they're angered by environmental threats from a water discharge plant on the eastern coast. just after today's protest, the government said it would drop plans for that waste water facility. it was four years ago that china hosted the summer olympics, but while the athletes have moved on, left behind is the bird's nest, a spectacular stadium. barry petersen reports on what's happened there since. >> reporter: the last time around, all the world was a stage for china. to show off images of soaring skyscrapers after decades of economic growth. >> they want the the to hold the olympics because it was a shining example of what china had accomplished and the communist party had achieved. >> reporter: but it was also an effort to erase another image of the communist party, its 1989 bloody crackdown on pro democracy students. >> the last time people had really clued in to china was 1989, and i think 2008 was an attempt to create a new impression of a moder
Jun 16, 2012 6:30pm EDT
activity. do not take cialis if you take nitrates for chest pain, >> axelrod: china's ambitious space program took a big leap forward today. a shenzhou 9 rocket blasted off from a site in the gobie desert. as chip reid in beijing reports it carried a crew of three, including china's first female astronaut. >> reporter: in china they're national heroes, three astronauts on a mission that's become a national sensation, in part because of 34-year-old liu yang, an air force pilot, mother of one, and china's first woman in space. the plan is for the shenzhou 9 space capsule to dock with a small space module named the heavenly palace where they'll live and work for 10 days. >> and liftoff! >> reporter: with the recent end of nasa's space shuttle program, the future of manned space flight in the united states is uncertain, giving china a chance to grab the spotlight. >> a manned space criminal confers enormous prestige on the country that does it. china, the united states, and russia are the only three countries countries in the world that have ever done that. >> reporter: we asked about tha
Apr 21, 2012 6:30pm EDT
cheaper and profits went up. but they didn't reckon what "made in china" would mean to their market. their customers were not happy. >> i was upset and sad to see you giving china american jobs when we need them badly. >> reporter: chuck buck says the letters force the them to make a cower correction. >> "buck knives have lost my respect and credibility as a solid u.s. manufacturer." >> reporter: their brand was damaged. >> they just can't stand to have that "c" word on there. >> reporter: the "c" word being? >> being china. >> reporter: the message was loud and clear-- buck knives pivoted and brought their production product and the jobs to their factory in idaho. >> i think there's such an understanding among americans when you buy something made in america, the job you're saving just might be your own. >> reporter: the decision was not solely patriotic. with wages in china rising 20% annually, the numbers began to favor american manufacturing. >> china was a great place to go in 2001 when wages were only 58 cents an hour. wages are risen rapidly, and that means companies are starting to
Jun 4, 2011 6:30pm EDT
, eat, and drink. and picture perfect-- meet couples in china willing to spend several days and thousands of dollars to get the wedding portrait of their dreams. captioning sponsored by cbs this is the "cbs evening news" with russ mitchell. >> mitchell: good evening. we begin tonight with the latest on the economy and how it continues to hit americans hard in the pocketbook and in the workplace from coast to coast. the latest numbers show the unemployment rate stands at 9.1% with the pace of job growth slowing. when it comes to new jobs, 70% of those are coming from small businesses, but many of them are struggling just to hang on. whit johnson shows us a case in point in the small town of scarboro, maine. >> reporter: in the unsettled race towards economic recovery, small businesses like maine indoor carting can hardly keep up how close are you to that edge? >> we're struggling every step of the way. >> reporter: in 2003, owner rick snow chose his passion for cars over a lucrative career in financial consulting. a lot invested here. >> seven figures. >> reporter: seven figures.
Jul 3, 2017 6:30pm EDT
members will stay here in syria. >> quijano: holly williams, thanks. china's president xi jinping gave president trump an earful last night when they spoke by phone. the two men will pete in person this week at the g20 conference in germany. ben tracy reports xi was upset that a u.s. destroyer sailed close to a disputed island claimed by china. >> reporter: the chinese government says the u.s.s. stet ddz em a navy war shep was trespassing in its waters when it passed just 12 miles off the coast of a small island in the south chiern-- china sea. the united states disputes china claims to the area and accuses the chinese government of building a military airstrip on one of its manmade islands. china's foreign ministry accused the u.s. of what it called a serious political and military provocation. this is the second pass of a u.s. navy ship off the island since president trump took office. it comes just days after the u.s. announced it is selling 1.4 billion dollars worth of weapons to tie want, which is also angered the chinese government. the relationship that president trump and chine
Aug 23, 2015 6:00pm EDT
. >> all eyes on china. all of the selling really started in china. the fear is that china's economy is slowing down. the market there has been in a beer market down more than 20% over the last few months but the fear is that with the slowdown in china, it drags down the rest of the world. part of the problem is that china's been gobbling up a lot of oil and the demand for oil is dropping. we've now seen oil prices drop from last year's 62%, that's hurt big countries like brazil, also hurting russia. so now we're trying to see is the chinese government going to try to intervene, push more money into that economy to try to stimulate it. we have to wait and see this week. >> glor: we should mention corrections do happen. >> this is a normal part of markets. they usually appear every year or so, we have been long overdue, more than four years since the last correction. i should note fouries ago in 2011 the economy was not in great shape, worried about the debt ceiling crisis, now the labor market is improving. we also have the housing market improving a great deal and one thing you shou
Aug 13, 2011 6:00pm PDT
of the running at the p&j championship. the other side of china's economic boom-- skyrocketing wages and prices. and athletics at an early age. how early is too early? those stories when the cbs evening news continues. >> mitchell: british police have reported more than 2200 arrests following this week's riots, arson attacks and widespread looting in london and other major cities. the british government under fire over the police response to the urban violence may have something to learn from american methods. elaine quijano explains. >> reporter: in philadelphia, officials are cracking down after a recent rash of mob attacks targeting people and property. >> we are not joking around. >> reporter: police flooded parts of the city last night and arrested about 50 teenagers for violating a newly enforced curfew. police commissioner charles ramsey makes no apologies for the tactic. >> we're talking about 14, 15, 16-year-old youngsters. they're old enough to know write from whereon and they know what they're doing is wrong and they'll suffer the consequences. >> reporter: so far the curf
Oct 9, 2017 6:30pm EDT
burn coal. china on the other hand is doing the opposite. ben tracy reports coal is on the way out, solar power is coming in. >> reporter: on a farm in northern china they are planting a new crop. nearly 200,000 solar panels in the heart of coal country. in the south china just flipped a switch on the world's largest floating solar installation. built on top of a lake created by an abandoned coal mine. projects like these help china double its solar capacity last year. it is now twice as big as the u.s. capacity. >> nearly half of all the new solar installations in the world are now happening here in china. and they're doing it quickly. green peace says they are installing the equivalent of a soccer field full of solar powers every hour of every day. >> we have 28 solar power plants in operation in china. and three more are under construction. >> reporter: maggie qiu is executive president of panda green energy. it has installed enough solar panels to power more than 40 million homes. >> why are you building so many solar farms. >> we intent-- intend to bring the better future to o
Apr 22, 2012 6:00pm PDT
nevada. and an american institution shifts its focus shifts its focus to china with a massive plant and new models. celia hatton looks them over captioning sponsored by cbs this is the "cbs evening news." >> jeff: good evening everyone. we begin tonight way huge storm that could impact at least a third of the nation. and because of the unusual timing, there are concerns it could be a rerun of a weather mess just six months ago. starting us off, here's terrell brown. >> reporter: last october a >> reporter: last october a surprise storm dumped record snow on the northeast. nearly 20 million people were left without power. that winter storm arrived in the fall. now there's a spring storm just like it, taking aim at the northeast. >> both producing heavy, wet snow. and both happening at times when we have a lot of leaves on the trees which will cause more weight on these trees and probably cause a lot of these trees to tumble down on top of power lines. and that's why we think there could be wide spread power outages. >> reporter: the storm system is expected to dump up to four to six
Nov 9, 2017 5:30pm PST
. >> mason: jeff pegues, thanks, s,ff. t china, the president turned on the charm with president xi jinping. in the past, mr. trump has accused the chinese of "unfair trade practices." today was different, as he seeks china's help in reining in north korea. margaret brennan is travelling with the president. >> reporter: it was a grand welcome to beijing for president trump, as he lavished praise on iis host, chinese leader xi jinping. >> my feeling towards you is an incredibly warm one. as we said, there is great chemistry. >> reporter: president xi was wot as complimentary-- but did say the u.s. and china, the world's two largest economies, need not be rivals. right now, china sells the u.s. roughly $300 billion more in uods than the u.s. sells china. president trump blamed past resiican presidents for the deficit. >> but, but, i don't blame china. after all, who can blame a country for being able to take advantage of another country, for the benefit of its citizens. i give china great credit. >> reporter: during the campaign, candidate trump struck a different tone. >> we can't co
Aug 16, 2015 6:00pm PDT
, thank you. the death toll in this week's explosion in china is up to 112. these images show the crater the blast left behind in the port city of tianjin, today crews in hazmat sues combed the site looking for toxic chemicals, 95 people remain missing, 85 of them firefighters, front runner donald trump is out with new details on his much publicized immigration policy. mark albert has more. >> donald trump is making deportation of illegal immigrants central to his immigration plan. he unveiled it sunday, the first policy specifics of his campaign. the plan also would rescind president obama's executive actions deval patrick ferguson some removals and automatic citizenship for children of illegals, build a wall on the mexican border and give, get mexico to pay for it and trip it will number of immigration agents. trump also said he would be okay sending ground troops to fight isis and would not scrap the nuclear deal with iran but he told nbc --. >> i would pull a contract so tough that they don't have a chance. >> trump continued his unrelenting attacks on one time front runner je
Apr 28, 2012 6:30pm EDT
>> axelrod: tonight, escape in china. a blind dissident under how arrest eludes his tbrds and reportedly heads into the u.s. embassy. manhunt, police corner an armed survivalist. terrell brown follows the trail to his bunker. jobs for americans. dean reynolds visits with workers who settle for lower wages instead of none at all. and spy story-- does this reenactment solve the case of the dead spy? charlie d'agata with the bizarre details. >> a captioning sponsored by cbs this is the "cbs evening news." xelrod: good evening. i'm jim axelrod. we begin tonight with reports of a blind chinese dissident make a 300-mile journey from house arrest to the gates of the u.s. embassy in beijing. his as-yet-unconfirmed presence at the embassy would likely complicate prealations with china just as secretary of state hillary clinton is set to travel there. >> reporter: the u.s. embassy in beijing could be protecting this man,. he fled house arrest last week. neither the u.s. nor the chinese government will confirm if he is in u.s. custody. he was imprisoned after opposing a program forcing w
Feb 14, 2015 6:00pm PST
west coast ports at a standstill, the white houseus tries to get cargo moving again. and china catches a fallenat n.b.a. star on the rebound. >> for me, it was like being reborn again coming here. captioning sponsored by cbs this is the "cbs evening news." >> axelrod: good evening. i'm jim axelrod. this is the western edition of the broadcast. when we say boston has had a lot of snow this winter, this is what we mean by "a lot." boston is about to set the record for its snowiest month ever recorded. those records go back to 1891, and we're only halfway through the month. after two of the biggest snowstorms ever in the past three weeks, another blizzard is forecast for this weekend. how's this for snowfall-- in boston gets more than 10 inches, as predicted, it will have seen more snow in the past three weeks than chicago has ever seen in an entire winter. they simply don't know where to put any more in boston, leaving mountains of snow in the boston area. check out this campus shot in what are being called "the alps of m.i.t. and now here comes some more. jericka duncan begins o
Dec 18, 2010 6:00pm PST
wouldn't even need our aid. celia hatten has their story. >> reporter: china's inner mongolia province hasn't seen a good harvest in years, but a local farmer is surviving after switching from crops to livestock. i can afford my daughter's tuition fees now, she says. she borrowed $750 through wokai, a microfinance charity run by 26-year-old american casey wilson. wokai matches online donors with aspiring chinese entrepreneurs from a tailor sewing traditional clothing in northern inner mongolia, to dumpling makers in sichuan, southern china. >> they repay the capital and you get to support someone new. >> reporter: while studying chinese in beijing, casey was inspired by a friend, a restaurant worker trapped in poverty, earning just $100 a month. >> the only difference between her and i is that i was born in oakland, california, and she was born in rural china. >> reporter: casey's inability to help her friend led her to launch wokai when just 23. they've funded 500 microloans in china so far. china's economy is booming, but there's still plenty of poverty in a country where 470 million
Sep 16, 2012 6:00pm PDT
demonstrators in china are so angry at japan. >> jeff: an unusual demonstration in washington today. several hundred protestors were outside the japanese embassy, a spillover from a simmering dispute between china and japan over a tiny set of islands in the east china sea. here's lucy craft. >> reporter: beijing finally clamped down on anti-japanese protests around the japanese embassy installing heavy security in response to yesterday's violent melee. but beyond the well-guarded chinese capitol, tens of thousands of protestors in nearly 80 cities across china joined what appeared to be well organized rallies. many carried posters of former communist leader mao zedong. anything associated with japan from sushi shops to factories to japanese brand cars was under siege. department stores were emptied of merchandise. it was the worst eruption of anti-japanese rage since the two countries normallized dep lo-- diplomatic relations 40 years ago. the japanese should return our territory, said this man. the japanese violate us again, we should declare war. sparking the anger was japan's mov
Jun 23, 2012 6:00pm PDT
lifeline for those fighting poverty. >> o'donnell: ahead, china's elite go golf crazy, giving the game new drive. that story is next. [ slap! ] [ slap! slap! slap! ] [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium rich tums goes to work in seconds. nothing works faster. ♪ tum tum tum tum tums [ male announcer ] you get in the zone long before the race. get your head right. and focus. on race day you don't leave anything to chance. ♪ get set every morning with gillette fusion proglide. engineered with our thinnest blades ever, so it glides for less tug & pull. ♪ great starts begin with gillette fusion proglide. ♪ >> o'donnell: finally tonight, china is teeing up to join golf's elite. this month, a 14-year-old from beijing became the youngest person to qualify for the u.s. open, and 23-year-old became the first chinese national to win a major title. but the game is not for the masses just yet. here's chip reid. >> reporter: at china's most exclusive schools, they start taking aim at that little white ball while they're still in kindergarten. by
Sep 26, 2015 6:00pm PDT
american educator teaching kids in china a new way to learn. >> memorizing a lot of information doesn't necessarily lead to creativity or problem solving skills. captioning sponsored by cbs this is the "cbs evening news." >> axelrod: good evening. i'm jim axelrod and this is the western edition of the broadcast. pope francis is wrapping up his three-city tour of the united states in the cradle of american democracy, philadelphia. today he delivered a speech from independence hall, the building where both the declaration of independence and the u.s. constitution were signed. the holy father spoke from the same simple wooden lectern that president abraham lincoln used when he delivered the gettysburg address nearly 152 years ago. pope francis addressed two issues that have been widely discussed by americans in recent months, religious liberty and immigration. allen pizzey is traveling with the pope. >> reporter: at his request, pope francis took time out to be a tourist today, doing passes by the statue of liberty on his way the take the plane to philadelphia. the final two days o
Nov 11, 2012 6:00pm EST
combined. china, russia, france, the united kingdom, you name it next test-- . >> reporter: sequestration would not change that according to the center for strategic and budgetary assessment it is not the size of the cuts, about $50 billion a year that would be so damaging but the fact that they would be across-the-board. panetta adds that except for military pay every program from the joint strike fight tore military band was be cut by the same amount, 23%. >> it's absolutely a foolish thing to do. if you want to cut the defense budget that's fine. this is a foolish way to do it. >> reporter: in other words, if the pentagon were allowed to pick and choose its cuts sequestration might not be the disaster secretary panetta is predicting. david martin, cbs news, the pentagon. >> jeff: pentagon contractors aren't the only one in with a stake in this debate. 120,000 small contractors take part in the federal marketplace. a market worth $500 billion. >> lowell vant slot is scrambling to run every conceivable planning scenario for 2013. he's the military contracts manager for u.s. technologies
Jun 30, 2017 6:30pm EDT
imported steel. the white house has accused china of dumping cheap steel in the u.s. comert secretary wilbur ross is a key supporter of the tariff, but some members of congress worry that could set off a global strayed war and raise prices in this country. police in the philadelphia suburb of west gauchan are investigating the murder of an 18-year-old girl this week in an apparent road rage attack. jim axelrod is following this. >> reporter: outside philadelphia this afternoon, police held up this wanted poster, a drawing of the man driving this red pickup truck who allegedly shot and killed this 18-year-old recent high school graduate bianca roberson, in what appeared to be a traffic dispute. thomas hogan is the chester county, pennsylvania, district attorney. >> a man in a red pickup truck pulled out a gun and shot her in the head, killing her. this is now a murder >> reporter: roberson and the man were merging into a single lane on a road in the town of west gauchan, 25 miles west of philadelphia. west gauchan chief of police joseph gleason. >> reporter: roberson's car veered off t
May 19, 2012 6:30pm EDT
>> dubois: tonight, departure from china. blind dissident chen guangcheng is rushed out of beijing for the yiewt. elaine quijano is tracking the story. the blooming of the facebook economy. rebecca jarvis shows us how other companies are expanding the social network one app at a time. millennial voters on the fence. will the young turn out for president obama as they did four years ago. terrell brown sounds them out. and diamond jubilee as the british begin to mark queen elizabeth's 60-yearlong rein. charlie d'agata has some of the pomp and circumstance. captioning sponsored by cbs this is the "cbs evening news." >> dubois: good evening. i'm cube cube. the blind chinese dissident chen guangcheng has landed at newark airport just outside new york city. his depart infrastructure beijing marked a sudden end to a diplomatic stalemate and an apparent positive turn in u.s.-china developments. elaine quijano joins us from new york. >> reporter: after a 12-hour flight from beijing, chen guangcheng is now on american soil. his arrival here marks end of nearly a month of uncertainty and a hi
Sep 15, 2017 5:30pm PDT
easily north korea evades the ban on coal exports. in june, a ship left port in china. halfway to north korea, it turned off the transponder, which allows it to be tracked. it pulled into north korea, where it was caught by a satellite as it loaded coal. the ship returned to the point where it had turned off the transponder, switched it back on, and proceeded to a port in russia, leaving a track which look liked it had gone straight from china to russia. both u.s. and u.n. officials say the only way to make sanctions work is to give navies the power to stop and search vessels suspected the carrying banned goods to and from north korea. anthony. >> mason: david martin at the pentagon. thank you, david. ben tracy, meanwhile, is following this from beijing. ben, these new u.n. sanctions aimed to cut north korea's oil imports, will they have any bite? >> reporter: not much bite. china supplies about 90% of north korea's oil, and it has already cut supplies, but these new u.n. sanctions that were passed on monday, they capped the supply at current levels. that's about four million barrels a
Nov 4, 2012 6:00pm PST
, san francisco. >> coming up, young people in china checking in on america's presidential campaign >> jeff: pollsters and pundits are not the only ones trying to anticipate the outcome of tuesday's election. the presidential campaign has also captured the attention of people in countries around the globe. our bill whitaker has the view from china. >> reporter: these young people crowded into this cafe for a very popular event, the last u.s. presidential debate. this cafe is in beijing. millions of young chinese like university student wang hanyi are engrossed with the american presidential election. >> we just want to know like what is happening on the other side of the world. we are now living the realm of social media. it's much easier to get the information compared to the past. >> reporter: we met with wang and two other self-proclaimed political junkie, zhan a student and liu jinyang, a journalist. american politics, why. >> american elections is open and democratic. >> reporter: unlike chinese politics. two days after the u.s. pick a president, china has a ruler by a communis
Jul 8, 2012 6:00pm PDT
world's second largest economy, china, also has reason to be concerned tonight. the country's premier wen jibao worned tonight that china faces huge downward pressure. gdp growth topped out at 14% in 2007 in china. since then it dropped deadly and this week is expected to be 7.6%. for insight on the global repercussion we are joined by jack otter, executive editor of cbs money good evening. first of all, what does this slowdown look like. >> sure, well after decades of incredible growth china was starting to look like a big bubble. the government got worried, hit the brakes and they may have hit them too hard. so now they are desperately trying to lower interest rates, encourage property buying, do whatever they can to get that growth going again. >> jeff: the question being, what does that mean for us. >> sure, well, because of china hea's massive growth they buy so much stuff around the globe, they use half of the globe's cement, half of the world's coal. one-third of the world's steel. so when they stop buying stuff, prices plummet. that is why you are seeing lower price
Search Results 0 to 49 of about 1,814 (some duplicates have been removed)