tv [untitled] November 18, 2010 12:30pm-1:00pm EST
come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines into a report. good to have you with this is a lawyer from the russian capital here twenty four hours a day top stories now the president's. discussed the wrongs of nuclear ambitions when they met for the first time since moscow back u.n. sanctions against iran on the sidelines of a summit in azerbaijan with five nations are messing up their claims to the caspian sea energy resources. president obama is pushing for the key deal with russia to be given the go ahead by congress before the end of the year publicans you. made gains
in the midterm election have. questions raised over america's justice system. victim says he was pressured into confessing to charges of trafficking and terrorism insists he's not guilty is now in a new york prison after being extradited from time. with another fifteen minutes from the meantime global heavyweights have been working to find a remedy to the world economic strife it forms in the asia pacific region to discuss the situation with no obvious solution i caught up with author and journalist donald kirk to hear his views that interview is next. how best to restructure global financial institutions like the world bank and the i.m.f. to better reflect today's economic landscape that's the challenge facing world
leaders and businessmen and as tensions rise over the young. the so-called currency war and the related to see with global trade imbalances raising the risk of a move towards protectionism the pressure really is on to talk us through some of these challenges i'm not very p.c. i'm joined by correspondent from the christian science monitor. many thanks for being with us. mr kerik now we are in the midst of what's being dubbed a currency war with the u.s. and china really long to head. off a currency manipulation do you think that there's a way out of this and well maybe a way out of it but i'm not. certain that we're going to get out of it any time soon the g. twenty summit did not come out with any real consensus on currency balances they certainly came out with strong resolution of the so that it's not good and they
said volatility is not good and all this other stuff is not good but actually agree on a way to on the way to resolve it aside from recognizing the problem and saying yes let's try to resolve it and then of course there's also the. issue of global trade imbalances do you think the u.s. is justified in asking export having countries like china and germany to curb their reliance on exports in order to to rebalance trade or librium well you know i don't know if the u.s. is justified but i will say the u.s. has a terrific trade deficit and trade deficit with china is just enormous you know it's like china exports several times as much as the u.s. next. to china and so you know from a prominent american point of view the u.s. has got to do something about this obviously the u.s. has to take care of a lot of domestic problems its own problems its own internal problems no doubt about that but they also have to lean on exports to raise the value of their
currency to more realistic levels as president obama pointed out quite frankly in his press conference china intervenes heavily in the market to keep the you want to keep the renminbi that you won at a lower rate than it really should be so you know the u.s. has to do something and they've got to they've got to improve domestically and they've got to try to improve they've got to try to slash. you know surpluses of other countries i can't blame the us for for behaving that way and we don't want of this school pulling going on they do you think that there really is a danger that countries might be considered local to the rain if you'd like to see protectionist policies i think there's a real danger of that and the danger is not just countries elsewhere around the world of the dangers within the u.s. the american congress might get protectionist if this goes on they're not going to get protectionist right away they're not going to get protectionist next year the
next congress is not going to be protectionist but over the years protectionist sentiment could certainly build and finally the congress would say ok keep out all this foreign stuff you know that's. all these imports i'm not saying that's good that that part is not good. in fact that's a real danger that's not a solution that's a danger but that could happen and also other countries could certainly respond with protectionist measures of their own a lot of countries already have protectionist measures one of one sort or another you know where does all of that b.p. if you're a free trader get something that wealthy just consistently say that that committee but we see we've been told much going for waves well i think free trade is. it is in danger here you know will we see a movie that's part of what this g. twenty was all about to encourage free trade to bring down some of the barriers to encourage countries to take a more open position and to do something about their overvalued their undervalued
currency and so forth and you know that's that's what this kind of talk fest is all about but there is a danger free trade is that is in danger here and how would you gauge gloop reaction to that shock announcement we recently had from the federal reserve that it was going to impact on the second round of quantitative easing the six hundred billion dollars being pumped into the economy we have some partial christmas coming out from developing a coming saying that that's seriously bored it could whomp them markets but also from countries like germany right right that was a shocker. the u.s. federal reserve announced that it was buying treasury bonds worth six hundred billion dollars and this was on top of the previous purchase of treasury bonds worth one point seven billion dollars this you know is an invitation for the u.s. to print ever more one hundred dollar bills i mean what do you pay for the stuff with you know you know pay for by writing
a check you pay for it and ultimately in the end you pay for it by cash and this cash starts hitting world markets some markets are more volatile than others and obviously it's going to have an effect that while the world responds now the u.s. response is we have to do something to improve our economy to overcome our deficits our economy improves that means your economy will improve because we'll be doing more business you'll even be selling more stuff to the u.s. and will be buying more stuff from you so you know there are no doubt there are arguments pro and con but it was a shock and. you know there are some people who are not quite as critical to us as others but i don't recall anybody. the u.s. move i don't recall anybody saying oh it's smart move i don't i don't think i don't think anybody said that there was some people who were not critical but they didn't they didn't they were not in favor either you know you mentioned that the relevance of the g twenty people here in seoul maybe felt disconnected towards the summit
that they were at excited about and said how relevant would you say that this group is today and and how united is it is that still a consensus do you think among its members to really change the well financial system well they're desperately trying to give that impression i don't think there is a consensus but they're trying they're trying to give that impression and they're not united i mean twenty twenty countries with so many from so many different issues and so different parts of the world and so many concerns going to be united however one significant aspect of this g. twenty was that it gave more more say considerably more say the what are called emerging market countries led by china which is you know the biggest obviously the biggest one but also including such powers as india indonesia was here saudi arabia was your turkey was your you know there were a lot of countries that were represented here there weren't getting any kind of representation before. substantively in terms of real action not just talking the
g. twenty did in-doors the move by the international monetary fund the i.m.f. to give greater quotas to china to india to other emerging market countries to give considerably greater quotas to those countries and also to give them two more board seats taking away two seats from european countries something that we didn't really hear much movement on is that all of them getting into bates all of the u.s. dollar as a reserve currency and america's management of it what do you think that it would take the leading countries to really begin to see multi-currency. well i think they may be on the way to that some people think you want. might become you know a global currency if you were on the streets of america conducting interviews of people and you ask you know what i read and then be as they wouldn't have a clue you know absolutely no clue and you ask them what do you want to was they would know what you're talking about here i'm quite sure they would. they should
know what british sterling is all about. you know a few other cars and they certainly heard of the japanese yen but you know as time goes on as the emerging market countries gain power and influence and as this part of the world soars economically you know not just china but korea you know japan they say is stagnant it was not really stagnant it's a very productive country you know there's the g.d.p. is it may not be increasing as much as other countries but it's not going down either you know it's and it's a major world economic power so this part of the world is as if it increases in importance is there is a chance of the dollar may and as the dollar and if the dollar deep freeze. further there is a chance that other countries other currencies may soon may come to the fore and we'll have a multi currency system can't rule that out it's possible then maybe be probable.
make is that interesting suggesting we have to be separate from the well bank chief . so exhausting we. go with other potential i think i kind to me i think we've got to make way quite awhile for that to happen it's an interesting idea i enjoyed reading the article but. beyond that i'm not totally sure if it's ever going to happen or if it's just kind of a fun idea which was which he mooted and which we can all talk about but we don't have to take all that seriously many thanks for joining us here on a good to be with you thank you. those so many years of past sins former prisoners are still a lot. as well as the fortune of. those so many years
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a photo with the wild of the lunar rover for free. for a mother could not live with her because. she was afraid. and she was very covert . she felt. arliss frankenstein's monster. don't have the problem. every. effort is made. by the palestinian or the europe. in saudi to negotiate in to the violent attacks against israel which i have no fear of war call the. song goes you have no. calling the leader of the state of israel one of the main terrorists in the world.
we are supposed to be seriously examining history but you mention a few words about jewish culture happening and people gets so upset this is i'm sorry to say it's a form of emotional blackmail. the official antti application. called touch from the top story. on the good. video on demand. and r.s.s. feeds with the palm of your. questions. for
the full story we've got it for the biggest issues get a human voice face to face with the news makers. top stories this hour on t.v. presidents medvedev and discussed iran's nuclear ambitions when they met for the first time since moscow back u.n. sanctions against iran. where five nations are mapping out their claims to the caspian sea energy resources. president obama is pushing for the key production deal with russia to be given the go ahead by congress before the end of the year publicans who have made gains in the midterm election have threatened to stall it. and questions raised over america's justice system as russian businessman victor bird says he was pressured into confessing to charges of trafficking and terrorism
insists he is not guilty who is now in a new york prison after being extradited from thailand. about with more on those stories more developments in fifteen minutes from now in the meantime sports is next with kate. but i welcome to the sports news live from aussie in moscow and here are the headlines. home defeat dick advocaat russia stumbled against his former side as belgium in the international friendly to you know. the all star little messy grabs the ninetieth minute went out as argentina brazil for the first time in five years . says sorry spain midfielder fabregas apologizes to the fountains all to the world and european champions were stunned by portugal. the start was local than would to god because russia lost to his former side as belgium want to know in an
international friendly in one year which you don't pull from reports. russia's friendly with belgium was a historic moment for iran is located five hundred kilometers south of moscow it's the first time this city of just under a million inhabitants has ever hosted a full international match the reason peroni is hosting this game is all part of russia's plan to host the two thousand and eighteen world cup with the national team playing matches around the country interests running his mind has been co-author with all tickets having sold out weeks ago while there is a hotel room preparing for a lot of money and playing with matchmaker in some way to easing the pain of a wrong is as if russia wins the right to host the two thousand and eighteen world cup the city won't be hosting any games to build and hadn't had the best preparations for the game they were due to arrive in brawn years and choose the evening but were unable to learn due to fog and only ride five hours before the game even the full said wasn't ideal we had and we hadn't slipped. into the
tree in the morning so everything was was against us then later rival certainly didn't have the belgians as they would make an express starts after just two minutes visitors took the lead a seventeen year old ramallah look to full advantage of a bad mistake by ego i can fear if the score is first goal for his country and stunned the home fans. russia are enjoying plenty of possession but they were unable to turn this advantage into goals thursday a billionaire dino failed to make the most of a good opportunity on ninety minutes as he saw his curling shot go just wide and then midway through the half roman shishkin who was born in their own years and was making his first appearance for the national team in free and a half years stung the palms of chilled francoise gear bulging with content to play on the counter-attack and they could have doubled their lead two minutes before half time break but was unable to find bailey who was totally armont measure continue to enjoy the lions share of possession of a second half and created a number of opportunities to wastefulness in front of goal was becoming
a big problem for the home side. i don't some to free minutes for visitors would double their lead impressively manage the whole of the challenge of debates and speak to us in pubs illegally before firing pass for help as i can think of but never issue a mountain to climb but substitute alexander the heart of could have the devil said but he blasted over wastefully as belgium would ease to it to know when. i doubt if they were any positives in our game today we haven't shown it good for us but still it was a big day for our own issue and me being a year or two we'll see a club from the city in the premier league who will assign someone who's a we had chances but we didn't score probably because we like concentration it's an end of the season and we might be tired plus of course we committed to big mistakes in defense. i deserve one for belgium who got one over to cover cats who quit the red devils in april after managing them for only six months we didn't talk much
about him the less and less today but. over the indian it's always nice if you can win against a former coach and i know it but it doesn't have a disappointing end of the year for russia who finished two thousand and ten with the defeats however the experiment to play in the run is was one of the few plus points as the crowd provided dick advocaat side with fantastic support fry the game which a bump off we don't see there on your show and russia's match as one of twenty eight international friendlies which took place wild wind was one of the most anticipated fixtures being in doha well you know messi scored deep into injury time as argentina brazil won the in council to claim their first win in six attempts against the five time world champions both sides were playing to the managers and was their coach when i was as we called a thirteen year old ronald a new for his first cap in seventy knots and the excellent playing was right in front and when first half is back safe from the other stuff across argentina replied with
a messy shot that tips the outside of the post. was. watching surat expect a sin and sin things are done but in the dying seconds of a quieter second half the reigning fifo world player of the year was not to be denied and struck his first goal in five matches against brazil possibly substitute this incident at sea the twenty three year old double cost to defend those efforts to keep the victor and squeeze the shot into the fourth one from eighteen yards to win it set up a test to stand. down meanwhile spain said assess fabregas apologised to the fans after the world and european champions were stunned for a move by iberian rivals portugal misspend the home side i think shortly before the end to all three great individual sports by christiane i removed i was defective shots picked up most teams most of it into the net and portugal doubled their lead just three minutes into the second half how the prostate get schooled is first on the night good morning and less than twenty minutes later the former top man found
himself alone some to go to meet to train and. then substitute to go on made up to full advantage of spain's depleted defense in injury time to see deserved the win so the hosts. while well god bless the netherlands were on the winning side announced a down as they took on turkey led by former russian coach and that this it in the match was decided after fifty two minutes following an error in the turkish defense commission into last would only go against the edge of the area one minute finished . and in a selection that stays out the result slovakia of the same year want to find group big with russia last three two times bosnia-herzegovina they didn't just go with group together went on for an hour meanwhile full time world cup win as it's a major one long it's a mania in phone journey the night at a dollar store in sweden northern ireland three one one appends morocco clogged
with coverage of awe and loss to want to dance move away until all. provide sunstein to one witness everything then when world. meanwhile favre have suspended two executive committee members from voting for the twenty eighteen and twenty twenty two world cups after completing an investigation into allegations of corruption nigeria is a must adama was banned from football activity for three years and fined ten thousand u.s. dollars and when asked to marry from to haiti was suspended for one year and fined five thousand dollars over playing as they asked for money exchanged for world cup votes the twenty eighteen spain portugal and twenty twenty one cleared of collusion the ballots will proceed on december the second with twenty two voters instead of twenty four nine candidates across the two that. it's important for the future i mean it's it shows that within fifty we have a structure that you see committee which was appointed since day one to monitor all
the big process in this excrete years not only money told but make sure they have made decisions sure that again i mean we give us all the tools i would say to ensure that what we're doing though in the big it is today when you think about the people who would be coming on december twenty. two or to attend this announcement to make sure that no one would be able to. i would say to challenge the way we run these eighteen month process. now russia's women's volleyball team a setting their sights on gold at the olympic games in london after winning the world championships in japan at the weekend team russia won a strolling final against brazil on sunday to clinch their second straight while title after winning all eleven games at the championships and russia's head coach because it can admit of their fans would expect his side to repeat the success in london in twenty twelve but he remains philosophical about his team's chances at the olympics. i would like people not to forget that this is
a sport and no one in sport can be guaranteed poland's will come up strongly in two years but we only think about it any competition including their lympics i mean we're all russia's twenty ten world and european champions that will take part in the next summer olympics were invited to the kremlin by president dmitri medvedev who admitted it had taken him a while to get a medal count from this year after a series of good russian performances only international circus the russian president had been attending the g. twenty summit in japan while the women's volleyball team was also there and he began his speech marking their performance which has seen the win back to back world championships elsewhere and turned to ten russian one over seventy medals in u.s. disciplines including gymnastics wrestling and swimming that have wished them all more victories and the support of their phantoms. used to show there is another very important part to success which is really talked about but it's very important
for any athlete and that is the fans' fan support should not just be on the surface it should be based on trust because done considerable you might no matter if the athlete withers or loses it happens to everyone but even politicians. i was the eyes now and in the kontinental hockey league struggling or have given that town payne a boost by beating second bottom by a single goal so they felt they got schooled the only one of the game traversing a power play midway through the second period to give their side a one zero victory and in the other game of the day western conference leaders seated on the soft rock bottom that's led to another because that's a way for all girls to say. and that's all the sport for now please join us for another update in just a couple of hours the weather and news headlines are next by then.