politics less disruptive, less harassing to our relations. china is a very unique system. it is a popular figure but never heard any positive assessment so far in the western media. how such a gap can be overcome? gently and adequately i think is a test. another thing is a lot of americans are very suspicious china will see u.s. as a declined power. yes, we have a lot of chinese paranoia. i can assure you they are not sitting mainstream. it is fully in shape. your government is really in trouble. without the politics the united states is fabulously -- so i think the chinese is struggling to take out some sort of very adequate understanding of the western but i don't think china sees any window of opportunity to [ inaudible ] and china should take advantage of this and move in. i think it's totally misperception. there is a point i would like to respond to the presentation is mutually assured destruction that would be a new cornerstone principle. china never do that. feel very satisfied [ inaudible ] china is oversensitive to u.s.-initiated asian missile defense system. it will col

it's also a test for china. now there is no easy exit for china to put such two ends meeting. >> about your first point, what it was not nine but became 11 in 1982. >> 11-9 in the eyes of chinese no difference at all because it is just [ inaudible ] and china concludes successfully we say delimitation. so then that kind of the two dashes really [ inaudible ]. >> okay. thank you very much. i still have a couple of questions in my hands but then we really run out of time. i'm sorry that these questions are not going to be addressed at this session. i want to congratulate our speakers and discussers for their excellent job. thank you very much for your participation. [ applause ] >> coffee break for 15 minutes. thank you. >>> c-span live today been hearing a discussion about the relationship between south korea, china and the united states with experts from all three countries participating today. you can see earlier session online shortly. also in the news today former florida governor jeb bush announcing plans to actively explore a campaign. we should have an update shortly. w

major powers clearly its relationship with china is the most important. china is the main supplier of food and fuel to north korea. it is its biggest trading partner and china has made a conscientious and persistent efforts to get north korea back on the path of denuclearization but china has been terribly frustrated in its dealings with north korea over recent years. it has been frustrated by, more than frustrated by the provocation, the deadly provocations by north korea against the rok. by north korea's continued nuclear and missile programs, and by its renunciation of its commitment to denuclearization in the september 2005, six-party joint statement. clearly there has been a cooling of relations between china and the dprk and i understand in our chinese colleagues can elaborate, that there's a fairly lively internal debate within china about whether the, whether the dprk is more of a strategic asset or more of a strategic liability to china. china has been prepared from time to time to apply pressure against north korea but it's been reluctant, reluctant to use all the leverage a

resumption of the trilateral foreign ministers meeting among china, the republic of korea and japan. i think there's a widespread hope and expectation that after the meeting of the three foreign ministers, a meeting of the leaders will also resume. and that would be a very good sign for peace and stability in northeast asia. regardless of format, i think we can all see the critical importance of communications among the major players in northeast asia, china, the republic of korea, japan, as well as with the united states. because we need to build on areas where our interests converge, and manage the issues in the areas where our interests may conflict. our collaboration to counter ebola, as i mentioned, is a good example. so is the crisis management mechanism that china and japan agreed to in principle last month in beijing, which we hope will become operational soon. conversely, last year, the abrupt declaration of an air defense identification zone in the east china sea was an object lesson in how not to handle a sensitive issue pertaining to overlapping national interests. the coming yea

entire region. but given some sort of the diversity, it isn't easy to united states and china to operate firmly and adaptable to what i would say a cruelistic interest and demand. the problem is, i think, the whole nation. they should stay away from a new cause of regional issues. it may not be possible to look up, but i think it is a reminder all of the things we should have in mind. but the promise -- the reason the case to get china-us in tension is some sort of say a small power trick. then there is the question of coming out. it is a great power game. among with a small power trip. so then the regional security pictures have never been more complicated. of course after the united states is china so we need to compete and cooperate. but we need to develop a shared vision. everybody knows we should have a shared interest. we should have a shared convergence interest and how can we develop a shared vision? i think the key case is how to deal with what the master politics and what was left. china is a very unique system. there is a poplar figure but i never heard any positive wo

getting colder ♪ ♪ sha la la la la ♪ sha la la la la ♪ sha la la la la ♪ sha la la la la >>> china's younger generation is driving a growth in consumption. >> this is where the real power is -- china. >> if you live in manhattan like i do and you think you live in the center of the world, this place, shanghai, will confront you with a very different reality. turn down a side street, it's an ancient culture. a centuries-old mix of culinary traditions, smells, flavors. a block away, this. an ultra modern, clanging cash register, levels of wealth, luxury, the sheer volume of things and services unimagined by the greediest, most bourgeois of capitalist imperialists. the city split by the huangpu river, a tributary of the yangtze. in the older section which features the bund and the newer built-up section of pudong. the one thing i know for sure about china is i will never know china. it's too big, too old, too diverse, too deep. there's simply not enough time. that's for me the joy of china, facing a learning curve that impossibly steep. the certain knowledge that even if i dedicated my

. eastern on c-span3. next discussion on u.s.-china relations including former u.s. ambassador to china and former 2012 presidential candidate jon huntsman. hosted by the center for strategic and international studies and the tcu school of communications, this is an hour. [applause] >> thank you all very much for coming. this is going to be a good one tonight. we have a great panel here. chris johnson down here most of you know i think senior adviser in china studied at thesis. he's an asian affairs specialist. he spent more than two decades in the u.s. government intelligence and foreign affairs community. he is the senior china analyst or was that the cia, played a key role in supporting the 1996 taiwan strait crisis, the 1999 accidental bombing of the chinese embassy in belgrade, the downing of a u.s. aircraft on hainan on the island in 2001 and in 2001 he was awarded the u.s. department of state superior honor board for outstanding support especially for aiding the office when chinese leadership changed hands in 2012. to my right here is someone who has become very well-known

turning to north -- tries tocap learn more about the massive hacking up sony picked trees. china started its own investigation which claims north korea used facilities in china to attack sony. china's foreign ministry has condemned the cyber attack and says there is no proof north korea is behind the attack. it was inobama says it couldber vandalism get more complicated once a china is involved. joining us from new york is gordon chang, you have written a lot about this relationship between the u.s. and china and the u.s. and china and north korea. what do we think likely happened? >> these attacks originated in china. sources have been telling media organizations the tax did not --attacks did not originate in north korea. if they started in china, that would be consistent about what we know. right now, we don't have enough evidence to say 100%. what we do know is these attacks were routed through chinese ip addresses and that means china had to know what was going on because china has a great firewall, the most sophisticated set of internet controls. they know everything that go

of korea, and the people's republic of china. the brookings center on east asia policy is proud in this event and in other events to work very closely with the korea foundation for advanced studies and the school of international we're grateful for the leadership and of course the participation of ambassador park and cook. the president of the kfas, and his board chair. we're also very pleased to have with us a good friend and an old friend, the dean of the school at badah as we regard as a brookings alumnus because he participated in our center's visiting fellows program, as did several other of our guests today. this event is in the category of what is often called track to diplomacy since it brings together scholars and experts who are intimately knowledgeable of their government's policies and who can, therefore, supplement the exchanges of diplomats and officials. i'm sure that today's conference -- which we call a trilogue, because it is a three-why dialogue, it contribute to peace and prosperity in a very important region of the world and it can also stimulate, inform and el

generation is driving into something. >> this is where the real power is. china. ♪ ♪ >> if you live like i do and you think you live in the center of the world, this place, shanghai, will confront you with a very different reality. turn down a side street, it's an ancient culture. the centuries-old mix of culinary traditions, smells, flavors. a block away, this. an ultra-modern, ever-clanging cash register, levels of wealth, of luxury, a sheer volume of things and services unimagined by the greediest a bhuj ois of capitalist and imperialists. a tributary of the yangtze into the oldest section which features the bund and the newer built up section of pudong. the one thing i know about china is that i will never know china. it's too big, too old, too diverse, too deep. there's simply not enough time. ♪ >> that's for me, the joy of china. facing a learning curve that impossibly steep. the certain knowledge that even if i dedicated my life to learning about china i'd die mostly ignorant. that's exciting. it's too much and it's changing so fast. ♪ ♪ >> china has a population of aro

following a request that claims north korea it used facilities in china to attack sony. northis no proof that korea is behind the attack on sony, they said. president obama said the u.s. or respond proportionately. any response to get north korea to do anything could get more complicated wants china is involved. joining us from new york is gordon chang. you have written a lot about this difficult relationship. not just between the u.s. and china but between the u.s. and china in north korea. what do we think likely happened there? >> these attacks originated in china. u.s. intelligence sources have been telling various media organizations that the attacks did not originate in north korea and they started in china. that would be consistent with what we know about this china-north korea relationship. we do not have enough evidence to say 100% but what we do know is that these attacks were routed through chinese ip addresses and that means china had to know what was going on because china has the great sophisticatedmost and concentrated internet controls. they know everything that goe

stewardship of u.s. relations with the republic of korea, people's republic of china and other important nations in that region. danny russell, whom i've had the honor of knowing and working with for many years as assistant secretary of state for east asia and pacific affairs. he recently within the last couple of weeks returned from travels with president obama to china, burma and australia. he is going to provide us with an overview of u.s. interests and policies in the region. so danny, welcome back to brookings and thanks for giving us the view from washington and the view from track one diplomacy. [applause] >> well, thank you very much for the introduction. i have had the honor of working for you at the state department. in fact, i vividly remember as the young officer getting the bad news that after 10 years of serving overseas i had to come back to washington. but the good news that i was being brought back to work for then undersecretary of state, peter and later tom pickering. so thank you very much for all you've done as a diplomat, as a journalist and as a thinker, particular

about. china, huge move up 20% over the past month. also we'll talk about that controversial call out of bank of america. google or yahoo!. would you rather? we'll see what the traders think. >> i love that one. straight over to you guys. >> thanks, guys. "fast money" starts now. live from the nasdaq market site in times square, i'm melissa lee. tim seehorn, steve grasso, closing in on dow 18,000 after a strong jobs report this morning. u.s. financials leading the way. the market that is exploding here is china. shanghai composite, best week in five years. and starting to feel maybe a little bit bubbly according to some. the index is up 21% in just one month. so what is the trade at this point? tim? >> bubbly is something you have to take in context. i agree. the market has been doing crazy things. they added 380,000 brokerage accounts in china last week. this whole thing about local money, it is a captive market, you had the market connect with the foreign money into -- you also had a property market languishing. you have a lot of rumors, a rate cut and threats of more rate cut,

china is going to get a strategic advantage. and forget mars. companies are racing to get back to the moon, but not for the reasons you think. "real money." ♪ >>> well oil prices fell to their lowest level in nearly five and a half years. they settled at $63.05 a barrel, barry worth the price of carrying this barrel along. and getting below $63 in the trading session, sometimes creating a good plan for people trying to get more gas at the pump. in less than six months the price of a barrel of oil has dropped about 41%. the main culprit for this is an oversupply of oil in the world, and decreasing demand. at the same time, america's frac-ing boom is adding to the oversupply. there might be as many as a million extra barrels of oil than the world demands. saudi arabia the swing prices upward if he wants to. it says it is keeping his levels at the same level for the foreseeable future. gasoline prices have come down to their cheapest level in four years. the national average has falled to $2.67 a gallon. that's more than a gallon lower than it was in june. but that is bound to drop to

behind the attack. obama called it an attack of cyber vandalism. get more complicated once a china is involved. joining us from new york is gordon chang, you have written a lot about this relationship between the u.s. and china and the u.s. and china and north korea. what do we think likely happened? inthese attacks originated china. sources have been telling media organizations the tax did not originate in north korea. if they started in china, that would be consistent about what we know. we don't have enough evidence to say 100%. what we do know is these attacks were routed through chinese ip addresses and that means china had to know what was going on because china has a great firewall, the most sophisticated set of internet controls. they know everything that goes out and comes back and we know of the sony attacks, the north koreans took at least 100 terabytes of documents. clearly the chinese knew what was going on inside the borders. it is amazing the infrastructure north korea has put together. , from a former hacker, who worked in china, said that the facilities north korea ha

ministers questions. been a look at south korea's relationship with china, north korea and the united states. later we are live with federal reserve chair janet yellen was holding a news conference after today's federal open market committee meeting. >> and now live to london for british prime minister at question time. each week the house of commons is in session, we bring you prime minister david cameron taking questions from members of the house of commons of the house of commons live wednesday morning's hear on c-span2. we invite your participation via twitter using hashtag pmqs. prior to question time members are finishing up other business. and now live to the floor of the british house of commons. >> to reduce the number of refugees attempting to fully their home countries. >> thank you. we rightly use development to fill up the institution and the conditions that minimize conflict to come instability that laypeople to becoming refugees and internally displaced in the first place. >> order. questions to the prime minister. >> number one, mr. speaker. >> prime minister. >> thank

>> clashes and arrests. police move into hong kong's protest site. a new savings plan china takes steps to insure bank deposits. >> breaking news is coming through at the moment. it's the official numbers coming through. the index came in slightly below analysis. today has been all about police in the nto protest site admiralty district in hong kong. the streets have been cleared or are being cleared around these government offices. give us an update what is going n right now. >> this is the area that protestors were fleing from this morning. you can probably see the last of the cleanup here, police cleaning up remains of belong thags belonged to protestors from this area where they had been overnight. you can probably see this tway traffic now flowing along this road. this is actually one of the reasons that kicked off the action that we saw last night and this morning. protestors had converged in this area and taken over this road. police had been in confrontations with them yesterday. e saw pepper spray being used. in the tend police did leave most of the protestors on the road

10% yesterday. some weakness in inflation in china. by 2.7%gate prices down in november, a record 33rd straight decline. that falling oil and commodity prices are having an impact. the tightening we saw from the tighter short learn -- short-term lending loans in china we saw. we also got analysts asking what the pboc was going to do next. economists say they have exhausted their ineffective policies with this tool. what is their next move going to be? are we going to see that? --what are >> basically the measures of what the banks have been set aside. >> i touched greece, china. i think russia will still come as well. it is the highest levels you have seen since 2013. we are up a third of a percent on the ruvell this morning -- ruble this morning. the central bank has a meeting tomorrow. it is expected that could raise the rates to 10%. this is the worst performing. the bond markets are also flashing red. tenure government bonds a nearly 15%, the highest yield since 2009. you have the ruble falling and the central bank meeting tomorrow. 10% seems to be the consensus. polled sayade

studies hosted a conversation about relations between the u.s. and china including remarks from former u.s. ambassador to china jon huntsman. this is about one hour. [applause] >> well, thank you already much for coming. this is going to be a good one tonight and we have a great panel here. chris johnson down here as most of you know i think senior advisor, a freeman chair in china, studies here at csis. he's an asian affairs specialist. he spent more than two decades in the u.s. government intelligence and foreign affairs communities. he's the senior china analyst, or was, at the cia, like a key role in supporting policymakers during the 1996 taiwan strait missile crisis, the 1999 accidental bombing of the chinese embassy in belgrade, the downing of a u.s. aircraft on the island in 2001 there in 2001 he was awarded the u.s. department of state superior honor award for outstanding support to the secretary, especially for aiding the office when chinese leadership changed hands in 2012. to my right ear is someone who has become very well known and recognized for his knowledge of china, e

survey by a global watchdog suggest china's public sector has become more corrupt. >>> safety concerns about takata air bags are prompting a series of recalls in japan. toyota motor added 185,000 more cars to its recall list. this brings the total number of vehicles auto makers are calling back in the country to 2.8 million. >>> it involves 19 types of cars in 2002 and 2003. the firm says it will replace the air bags free of charge. officials say no one was injured, but they do not know why the air bag malfunctioned. toyota added cars equipped with the same type of airing bags as a precaution. toyota executives say parts are in short supply due to massive recalls. they say replacements are unavailable and engineers will temporarily disable the air bags. toy at that and other auto makers may have to deal if regulators in the u.s. expand measures to this has resulted in recall of 8 million in the u.s. the recall has been expanded nationwide. takata executives said that warm, humid conditions could cause the air bags to explode and discharge metal fragments. officials at u.s. highway traf

it could -- northeastern china. what got them so fired up was a best-selling novel about a plan that involves china. thaad also warns that if south koreans are allowed to u.s. to deploy the system, they will be a force to oppose dhin china. >> up until now, korea has been a death at using the united states for security and china for trade. but that won't be possible any longer. >> the u.s. stations almost 30,000 soldiers in south korea to protect it from north korean threats. the u.s. want thaad in south korea to respond to north korea's provocative behavior, like firing missiles. in september, deputy defense secretary publicly announced the u.s. intends to deploy a battery. >> we are considering sending the thaad to south korea. we're doing site surveys, we're working with the government of south korea now to determine if that is the right thing to do. >> reporter: the announcement angered china. last month, south korea entered into a free trade agreement with china hoping to strengthen economic ties. but the missile issue might become an obstacle. china suspects the u.s. milit

pretext of human rights. >> kerry said the u.s. is deeply concerned that china continues to incarcerate liu xiaobo and keep his wife, liu xia, under house arrest. he urged china to release liu and remove all restrictions from his wife. the writer was sentenced in 2009 for inciting subversion. he had released documents online criticizing the communist government's one-party rule and seeking democratic reforms. in 2010 liu became the first chinese national to win the nobel peace prize. the chinese government did not allow him to attend the awards ceremony. >>> the leaders of iraq and turkey have agreed to step up the fight against the islamic state militant group. the agreement marks a major thaw in relations that soured during the leadership of former iraqi prime minister nouri al maliki. the diplomatic rapprochement came in a meeting between iraqi prime minister hader al abadi and his turkish counterpart ahmed naptolu. it was abadi's first visit to ankara since taking office in september. in a joint news conference abadi said he asked duktolu to provide arms and cooperate in

understood. ruling party suffers a defeat as voters say, take it slowly with china. a hard knock life for sony. hackers steal movies and put them online in the monday edition of asia edge. >> look at the markets. it is the first day of december. a negative day. it is lower because the banks and we have china on the deposit insurance scheme for the banks really hitting. all the savers in china are being insured. it opens up the market for the banks. no bank is too big to fail is the message from beijing. we have stocks falling across the board. the price of gold, oil, and silver. they are suffering significant declines. and it is a heavy decline. china and the is japan story. at 1%.sed for lunch is >> we may be seeing the beginning of the end of the last major protest site in hong kong. earlier, the police moved into the admiralty district of the city. they cleared protesters and barricades. there were scuffles and arrests. student leaders call for reinforcements. the protest started over two months ago. tell us what you have seen thus far and what is going on. >> good morning. certainly,

many investors are on holiday. some are expecting another government stimulus package. china's shanghai rose 2.77%. many investors bought financial related shares including banks and securities. shares in taiwan closed up 0.6% to 9,214. reports that parliament has decided to close on shares. in currency the dollars moving at a narrow range against the yen. analysts say the dollar will stay strong against many currencies because of expectations that the u.s. federal reserve will raise interest rates next year. >>> yield for the japanese government bond hit record lows dipping to 0.3% at one stage during trading after large scale monetary easing measures. >>> people around the world have watched the yen plunge. they have seen the japanese currency drop. in just six months the yen has fallen by roughly 15% against the greenback. and it slid by 15% against the chinese juan in the same period. >> reporter: the downtown shanghai about 600 people gather for an event. many in the crowd are crowding the streets made possible by their strength and courage. >> translator: i am interested in these

taiwan says that should china attacked taiwan would have to go to war with china to protect taiwan. entity would have to borrow from china to go to war with china but i think it's a little overstatement, quite frankly but it makes the point if we do not have the same degree of sovereignty in terms of going for which is really risking the future of this country and our status in the world. so i think there are real challenges going forward. i also say there has been things have been accomplished, and i'll try to become things happening on health care. we have slow the rate of growth on health care on a per capita basis to the difficult is one of per capita is coming down, the capitals will grow, particularly in those over 85 we those expensive, and they're coming. it's clear that we are in a much more difficult situation going forward today for the next 20 or so we were at the time this particular report went together. i think we have huge challenges to i do want to focus on the need to talk about the positive aspects, not just the negative aspects of deficit reduction the positive

trying to strengthen ties with russia as their relations with china are cooling. workers party secretary visited president putin last month and gave him a letter from kim. analysts believe they had a discussion that paved the way for putin and kim to meet. south korea's constitutional courthouse changed the country's political landscape. it has ordered the disillusion of pronorth korean abolition party. this is the first time the judicial body has made this type of ruling since the nation became a democracy in 1987. a panel of judges said on friday that the minority left wing unified progressive party adopted a north korea's ideology and say the group organized meetings to discuss a rebellion in an effort of war with the north of the the party's principles and activities were in violation of the constitution. government officials have asked the court to ban the upp following the indictment of several party members over charges last september. the decision strips all five of their seats in parliament. leaders of the largest opposition say they are deeply concerned that political

exerted influence over the oil industry. he headed china's internal security apparatus. the first decision maker to face arrest. the state run news agency of accused of disciplinary violations, including accepting bribes and leaking party and state secrets. xi jinping krou vowed to crackdown. citizens are frustrated with ram pant corruption and they fear they are losing their grip on power. >> executives at honda are recalling 135,000 cars in japan. they are concerned about defective air bags made by takata. honda representatives already promised to expand the recalls in the united states. they told lawmakers they would examine 3 million more cars. officials with the u.s. national holloway traffic safety administration told honda to expand the recalls last month. honda will recall the same models in japan as in the u.s. the firm has already filed 970,000 recalls in japan and it will exam over 10 million cars around the world. >>> workers at the u.s. space agency nasa are celebrating another giant leap. they test launched a craft that could carry people to mars and brought it safel

accounts. almost 900,000 new brokerage accounts. in china, what is it that worrying is that investors also took off almost three times the amount of debt -- took on almost three times the amount of debt. $1is close to about trillion. >> i think you have underlined what is at the core of the story. market cap is one thing, but how did they get there? this is really reflecting the drive and excitement we are being just north of us. we have china's second-largest brokerage announcing a massive fundraising plan. >> the second-largest. stuff in shanghai, stuff in hong kong. $3.9 billion is the money they want to raise. private placement, and they will be selling eight shares. at 18 hong kong dollars. they're selling them at 16 hong kong dollars each. that is about $3.9 billion in u.s. money. if they announce this -- if they had announced at last week they would have been able to raise as much. it is one of the benefits. thanks for that. its best is ramping up year for initial public offerings and 2010 that there is one glitch. overseas companies have almost evaporated. shery ahn

motivation behind the changes and what the effort means for u.s./china relations. from the wilson center, this is an hour and a half. >>> well, good afternoon and welcome to the wilson center. all of you who are here with us here in this auditorium and those who are watching on c-span or on our web cast. the wilson center is the living memorial to the 28th president of the united states. my name is robert daly, i direct the kissinger institute on china and the united states here at the wilson center. we're very glad to bring you this program on corruption, constitutionalism and control, implications of the fourth china and u.s./china relations. this afternoon's talk brings together two topics which are very often treated separately although i think they belong in the same program which are corruption and china's attempts to carry out further round of legal reforms. no doubt all of you have been following corruption stories from china over the past few years. and you have heard about x ping's willingness to take on both tigers and flies. probably followed the some times sorted tales -- pi

>>> the plateau makes up one quarter of china's land mass. the tibet autonomous region spreads across the southeastern portion of the plateau. in the center is lhasa. its name is tibetan for sacred place. rapid development has brought dramatic change to the city over the pasten yrs. development has radedly changed the local environment and the way residents live and work. many people have moved here from outside the region to take advantage of new opportunities. in this episode, we'll offer a rare inside glimpse of this ancit tibetan capital. lhasa lies more than 3500 meters above sea level in the heart to have tibet autonomous region. it plays a central role in tibetan buddhism and was once the capital of tibet. the breathtaking potala palace is a world heritage site. the pal laz has an area of 1300 square meet es and some say it has 2,000 rooms. it used to be the home of the dalai lama, the country's former spirl eventual and political leader. nearly 13 million tourists visited the region in 2013. 90% of them were from other parts of china. special permission to enter the reg

still there. it continues to grow in china, in europe, in japan. europe i think may have been a surprise for some. it is, in fact, the fastest growing coal market in part because germany is shutting down nuclear power plants, and gas wasn't what it used to be in europe these days for a number of reasons. so they find themselves using more coal. same thing in japan with the closure of the nuclear power plants, japan is building gas plants and coal plants and expects to be using them for a while. there is increased trade in export in coal, and there are new energy security concerns. this is a central issue in the way that china thinks about its work. for them domestic energy security is a big issue and coal is a big part of how they see their robust energy infrastructure. same thing in eastern europe. it's not just poland. poland, romania, ukraine, hungary, a number of eastern european countries and adjacent countries really rely heavily on coal for their energy supplies, and, of course, with all that dramatic increase in carbon dioxide emissions. in that context, if we are in an

in europe is about to go, caused by austerity in europe and china is said the spending power. never has there been and ascending power that did not cause a war. can this be the first time? can we deal with the country to 4 times larger in population. a totally different system of government, they are not about to come of france a few like democracy, like congress in beijing to help us. they have their own system and finally climate change. everyday we are pumping out more greenhouse gases into the atmosphere and every day we are moving toward that mark of 2 degrees centigrade, 250 parts per million of carbon dioxide in the atmosphere pegged as the danger zone. we have big long-term challenges and sharp crises so i wrote the book to try to give you a frame for how to think about it and give myself a frame to think about it. >> one thing i very much like comes from golf which says the question which is the most important shot in golf and the answer is the next one and you use that as a metaphor for anticipating crises and suggest that we need to unlike the historical approaches, we ha

very good news, and i will talk about it in a minute, u.s.-china joint commitment in terms of reducing reducing -- following european's leaders having 40% reduction on the commitment. this of course is a good one but when we look at the numbers our report shows last year co2 emissions increased again 2.6% which puts the world perfectly in line with the temperature increase about 3.6 degrees celsius. which would have devastating implications for all of us and of this growth, 60% of growth came from one country last year, which is china. second, really important issue that we highlight every year and we follow very closely and provide policy recommendations is the fossil fuel subsidies for the consumers. in many countries consumers at the pump station, electricity bill and so so on, pay artificiy low prices, extremely cheap prices, much, much cheaper than their economic value and may leave many of these countries, russia, caspian countries, asia, china, india, indonesia. what does this mean to put a subsidy to make the coal, oil, gas prices much cheap every than what they are, w

. it is basically a balkan crisis of the east as i noted here. what i mean essentially is china is the ottoman empire of the east. in other words, china is in sort of a similar circumstance. china is a great sort of long lasting dynastic empire. the political, economic, cultural sort of node of asia is getting into sort of deep trouble in the way that the ottoman empire is doing at basically the same time. you have difficulties in the ottoman empire beginning in the 1930s. odium war is fought in china between the british and the french to obtain sort of more commercial rights in china. this is 1839 to 1841. you have the japanese war who come online and do defeat the chinese in war. basically at this point by 1895 things are gang busters. who is paying attention to what is in the world in the 1890s. sure the balkans perhaps this is early for the balkans but certainly not early for asia. there are those very smart historians in the united states like brooks adams making the important comment that it's eastern asia which is the prize for which all of the energetic nations are grasping. yo

. what i mean essentially is china is the ottoman empire of the east. in other words, china is in sort of a similar circumstance. china is a great sort of long lasting dynastic empire. the political, economic, cultural sort of node of asia is getting into sort of deep trouble in the way that the ottoman empire is doing at basically the same time. you have difficulties in the ottoman empire beginning in the 1930s. odium war is fought in china between the british and the french to obtain sort of more commercial rights in china. this is 1839 to 1841. you have the japanese war who come online and do defeat the chinese in war. basically at this point by 1895 things are gang busters. who is paying attention to what is in the world in the 1890s. sure the balkans perhaps this is early for the balkans but certainly not early for asia. there are those very smart historians in the united states like brooks adams making the important comment that it's eastern asia which is the prize for which all of the energetic nations are grasping. you can see this sort of language here. it's very much not simp

my sense is, the japanese are always concerned about the nature of our relationship and china and what is happening there. how you address that on the policy side you make sure you pre-breathe and pro-brief them. my sense is that there may have been some doubts, especially the serious issue -- there may have been some doubts. i think the president clarified that. in my sense, in beijing, that message got through. >> i think also, we talked the photograph -- if you look at that from the west, you think, white even have this picture. i think it points to the underlying domestic politics think about -- that will be a reality on the chinese side these have to be prepared for. to the economy continues slow down, we should be prepared for -- and we will see united states -- demonstrations in japan. people will not be as easily economic growth -- they will mobilize around essential fundamental issues. one of those will be history. sometimes it is worth as remembering that. we can see the street demonstrations and assume that is this reservoir of energy, in fact i think there are many opp

didn't feel the tremor. the international monetary fund revealed that china's economy surpassed that of the united states and now china is now the world's largest economy. they reported on this story and it could should have caused demonstrations in our streets. we are losing our country and no one seems to notice. less than 15 years ago, the u.s. economy was three types the size of china. and americans since 1945 have grown used to having the number one economy and must have taken it for granted. get ready to the new ranking or get angry and we'll do something about it. our current president said running up the huge debt on children and dprand children was irresponsible and unpatriotic. if so, he is the least patriotic president in history. our debt topped the 18 trillion mark. that is more than double than it took the first 43 presidents to create. his solution. keep borrowing and then give out free cell phones and paying people additional money to not work. and he wants to ignore the constitutional process of law and open america's door to cheap labor and make its harder for

steve evans is in seoul and he told me about china's role in all this. >> reporter: there have been articles in the chinese press basically expressing exasperation at north korea, basically saying we don't have to support you forever. nobody thinks that's the official leadership position of china, but the very fact that that idea is floated in the official chinese media indicates that somebody might want to be getting a message to pyongyang, just hold your horses a bit. china is the root of the internet into north korea, a single server in china. president obama had asked china for help. we simply don't know what the response was, if any. but people might surmise about whether china is saying well, okay, we will just yank the reins in a little bit here. at the end of it all, china will support north korea, but that doesn't mean it's happy about everything which north korea does, and maybe it's indicating its unease. >> steve evans there in seoul. with me is the bbc's technology reporter dave lee. obviously, there's speculation about whether china was involved, whether america was in

economy year. -- next year. china is using the rules on foreign banks. next month, it'll be easier to open branches and make transactions in yen. they are boosting competition and giving the overseas access to the market. you can get rest of the day's news on bloomberg.com. you can watch some of the interviews you may have missed on bloomberg today. some relief for investors. shares have resumed trading with a rally now that a corruption case focusing on the controlling family has come to a close. we have been following this story from the very start. one brother guilty, and the other not. >> of the two brothers -- we are talking about the kowwok brothes -- billionaires. sun hung use the run kai properties, hong kong's biggest property company by sales. the second-most valuable in the world. they were on trial with another man -- rafael hui. he was the chief secretary of hong kong in 2005 between 2007. you can see some high-profile characters here. kwokwo brothers -- thomas was convicted of conspiring to commit misconduct in public office. that was related to payments, a series of pay

policies on north korea, on ir iran, on russia, on china, i could go on but they're weak and they give the impression that the united states is not paying attention to the rest of the world and busily turning inward. and the consequences for the united states are severe and adverse for a number of years unless we reverse what he's up to. >> this is a way to open up cuba to bring a commerce and bring a democracy and that will succeed. >> that shows his ignorance on how cuba was run. he might be interested in knowing that the united states is the largest exporter of food to cuba already. we supply enormous amounts of medicine and other humanitarian supplies. that cams as a consequence of executive and legislative steps late in the clinton administration designed to do what? to open up cuba and increase the freedoms available to people. it hasn't happened. it's still a repressive society. human rights activists are routinely murdered in cuba. they are put in prison. and cuba's state controls most of the economy. the enterprises are state owned or to do business, foreign companies need to

china's officials are saying only that they are studying the offer. officials in tokyo are hoping to set up the hotline as early as next year. chinese patrol ships have repeatedly entered japan's territorial waters off the senkaku islands. japan controls the islands in the east china sea. china and taiwan claim them. japanese authorities are keeping a close watch over china's moves at sea and in the air. >>> ministers from around the world are meeting face-to-face in peru to fight global warming. they're discussing a new international framework to cut greenhouse gas emissions. >> no national leader in the history of humanity has ever faced this question. will we survive, or will we disappear under sea? >> delegates from developing countries are urging the u.s. and china to take action as promised. last month the world's two largest emitters jointly announced targets for reducing greenhouse gases. officials in beijing have faced growing criticism for their dependence on fossil fuels. but china's chief delegate says his country's determined to take a leading role. >> translator: our ai

this driven by the saudis trying to capture markets or is it driven by the fact that china is in meltdown. >> i think people the focus on the supply side. but the us shale story has been going on for several years. we still had oil above 100, pretty stable. what's really happened this year is that china which had been driving demand, 43% of global increase in demand over the past ten years came from china. and china's demand growth is leveling off. and that means that this output has nowhere to go. so... >> if china is leveling off, if it's really a china story we're dealing with, how long do we have to suffer through china to get its economic act together? >> i don't know. that's really hard to say. and, you know, the chinese, i think their economy is around the edges of china. and they have a lot of infrastructure, things to do. they need to do that. the growth in china could go up in the next couple of years. they do plan a lot of infrastructure plays. i mean, look at europe. right? china mayb may be a big part of it. the increase in price of stocks has been from a lot of buyb