the amount of talent to lookout in china. every year, we graduate 6 million people. 1 million are in computer science and electrical engineering. things to do with information technology. it is different from the u.s. the best and brightest students work in engineering tavis: statistics like that -- like that make us uneasy. those footsteps are making for some restless nights in america. a country of 1.3 billion people, summing it up as a daunting task. we turned to a consulting group for dover new -- overview of what the chinese are thinking about. when victor yuan started the company, it was off-limits. that has changed. >> based upon what the chinese people are telling you, on a scale of 1 to 10, tending great, one being horrible, overall, how do the chinese people feel about the direction in your country is moving in? >> 7-8. the general direction is all right. the problem is about specific policies. that means people are complaining. it is such a big challenge. there are so many people. about the bigng government. tavis:

what's really led to the high inflation here in china you know official inflation rate in china are five to six percent but most people here would tell you they're they're closer to ten percent. so in a rising remember he is going to help the inflation problem in china and i think the central bank here in china finally is coming to that conclusion as well ok you know one of the biggest problem with the u.s. dollar of course is that the u.s. instead of dealing with their banker corruption problem they're simply printing more dollars in the hopes that by bailing out the creditors during the last five year mortgage fraud that somehow the growth engine will start up at some point and what we're seeing is of course the exact opposite they're just exacerbating a problem so that's a problem with the u.s. dollar as a sort of currency but now china is also printing up lots of arm day this kind of undermines undercuts the redback as a reserve currency going forward isn't that the case or how are they fessing that yeah absolutely and i think that's why we've seen some recent so aeration in the

>> well, china is -- we think of china as being so centralized that there are commissars issues -- >> they're not? >> they're not. the authority is per vaesive the pervasive but not as centralized as we think. competing with different agendas trying to reach different goals which is why you can have these kinds of results when they talk about opening up and you can see it in the rail system. it's an interesting case. there was that accident that just happened there. where you have i think the tension of china clearly on display. where's there's this extremely ambitious and inspiring national agenda of trying to put the country together with state-of-the-art infrastructure, but you also have these, the rail bureaucracy and the actual people in charge of the construction who are not necessarily on the same page as everyone else, and you have these -- >> which leads to a really ambitious plan and underlined l lacking in integ get a and you get a train that can go off the train and kill people? karen, go ahead. >> well, on that hope note -- >> which are we talking about? i can't remember.

like germany then in the case of china you see what happened in a big room in china and a missile a kitchen of capital there with a built production capacity for a man there is collapsing in the united states in the case of germany export a lot of their capital outside the credit i was around europe and then you have structural imbalances there the root of the problem is the monetary system that's the problem so trying to impress piecemeal these different things and keeping the system in place is not going to solve the problem it's only a few diversity of solution one of feudal model is that a good thing if you want to have individual sovereign universal freedom and true democracy and then you have to ask for a system going to last for a competitive price of everything including the price of money so then when the euro is out when countries are having to have war about collective fiscal of forty is that a good or a bad thing. it's a bad thing because it would be again it goes back to so costly more power it was several of them already and then how would you use a theory everything i

because china has changed. china is more than just binding feet even in its history but today but today china's very, very different. >> rose: traditional and modern. >> traditional and modern. and i feel like for me i'm more interested in the contemporary. and i think this is new york city on steroids. (laughter) >> rose: so you show a modern friendship in shanghai of which one of the two members of the friendship is writing a book based on... about what happened. >> right. >> rose: how do you see this story and tell us who your character is. >> in the story i play rose and the modern part of nina and i really love the relationship between the two girls. it's very settle and special. and if you believe this kind of emotion in this life. >> rose: what's the nature of the friendship between these two? they met at seven years old? >> yes, yes. there's actually a sacred chinese culture. even me before i shot the movie i never heard it. i think most of chinese they don't know this kind of tale. after i got the scri

everything inside here bears the label made in china and all the sellers also come from china and let me tell you it's absolutely packed in fights here and the party is like this every single day so clearly business is booming. i've been here for three years i love china as there weren't enough jobs things are going well here you can get things really cheap here which is great if you've got a large family the quality varies hugely but on balance i think we're lucky to have chinese traders here russian goods just can't compete on pricing. by hopping on one of the many packed ferries that cross the river every day russian consumers can enjoy an even more authentic chinese shopping experience audi is the slight slavic flavor thank you for volume and in the process help to fuel the chinese economy it's led some to fear that russia's far east is being exploited by its entrepreneurial neighbor. person missed revel in self-pity at the sight of china forging ahead. think of ways to develop like a fish at the same pace using chinese expertise capital and labor because i believe our region is h

called wrong its people with china. and hundreds like the marines barricades became if they see it's you. who are just like hostages and while some syrians are welcoming the sight of their troops president obama is calling for president all sun to step aside so what exactly will donna g. . and we've all seen the london rioters but now some new faces are entering the picture the sentiments to form a new year for inciting violence that didn't even happen so what's with the big brother poking around online and should you be watching your postings. it's thursday august eighteenth i'm christine in washington d.c. you're watching our team i want to start off by talking about china vice president joe biden is there right now meeting with china's vice president and no doubt this is significant for a number of reasons china of course the holder in chief of so much u.s. debt and with the downgrade of the u.s. credit rating china wants assurances that the u.s. will indeed continue making payments on that debt china also continues

hilton is growing at record rates across asia pacific and china in particular. equally important, we see dynamic growth both in a number of chinese travellers from mainland china, and guests with chinese origins who live in other parts of the world. our new program is based on our global expertise and more than two decades of working in china. we put our expertise from working in key parts of the world ar. our key goal is to provide welcome for our chinese guests as they explore the world. at the heart of program is our promise to insure every guest feels cared for, valued, and respected. >> our program includes team members fluent in chinese. in the guest room, we provide chinese tea available on request and dedicated television channels broadcasting chinese programming. >> our expert at hilton menu is expand its -- expanded to include chinese items. breakfast is 80 meal for our guests. >> there's a great deal of affinity and trust in china and around the world, and we have a tremendous responsibility to deliver on our promise and provide hospitality for the mi

china and the u.s. are beginning to get a bit strange that china is up upping their military presence there upping their stealth jet fighter technology so currency wars would seem perfectly in keeping with the idea that they that bond rating agency would politicize that decision somewhat because the world war three we're all engaged with now is a currency war so. is there this type of talk inside china here in shanghai to people see this as an emerging currency war the is this type of language at all you're you're right there in shanghai is this what's going on i don't see many people talking of the currency wars is actually the political it's becoming more of a political issue here to keep the renminbi lol indicate shipping goods the united states and have them print them oh that's what's finally catching people's notice here is it why are we are we working twelve hours a day in the factories and should be shipping products originates needs and just have them print money though obviously the u.s. as yo

of china. -- the rest of china, the majority of china. it was depressing in a lot of ways but actually a very uplifting in other ways because everyone of these migrant workers that i met, everyone of their children, smiles on their face, joy in their heart, happiness in their soul. i am walking the door and they are offering me water and food. -- i walk in the door and they are offering me a water and food. they had little and they offered you much. that is a moving experience. >> they have smiles on their faces, don't they. tavis: coming to china has been a great trip. until next time, keep the faith. we will see you then. >> every community has a market the king boulevard. this is the cornerstone we all know. this is not just a street or boulevard but for wal-rt to gather with your community to make everyday better. >> nationwide insurance supports tavis smiley. with every question and answer, nationwide insurance is proud to join tavis in working to improve >> and by contributions to your pbs station from viewers like you. thank you. [

china we've seen china's car market now become the world's largest car market and i think major companies are looking to full growth in asia pacific and they're diverting their attention to these markets and i think if you look at just the announcements that were made yesterday like by h.s.b.c. they're cutting back in europe but they're adding there are doing about five thousand people in asia pacific. to converse daniel toddler says the asian economy will easily would stab america and europe's turmoil concern that we have now is that we have to see growth rates in asia come down a bit further from where we had been expecting them and if you remember in the global financial crisis previously a lot of banks in asia got very cautious so they themselves decided to limit their lending and that's likely what we will face again and compared to the global financial crisis you may remember actually asian economies and banks didn't get that hard hit so again the situation today is is not that worrisome compared to the last two crises in asia for china remember in the past they were able to continu

everything inside here bears the label made in china and all the sellers also come from china and let me tell you it's absolutely packed inside here and the party is like this every single day so clearly business is booming. i've been here for three years and i love china as they want not jobs things are going well here you can get things really cheap here which is great if you've got a large family the quality varies hugely but on balance i think we're lucky to have chinese traders here russian goods just can't compete on pricing. and by hopping on one of the many packed ferries that cross the more river every day russian consumers can enjoy an even more authentic chinese shopping experience the is the slight slavic flavor back here for a bargain and in the process help to fuel the chinese economy it's led some to fear that russia's far east is being exploited by its entrepreneurial neighbor. worthless a pessimist revel in self pity at the sight of china forging ahead while optimists think of ways to develop like a version of the same pace using chinese expertise capital and labor be

that's what's really led to the high inflation here in china you know official inflation rate in china are five to six percent but most people here would tell you they're closer to ten percent. so when it is rising remember he is going to help the inflation problem in china and i think the central bank here in china finally has come to a conclusion as well ok you know one of the biggest problems with the u.s. dollar of course is that the u.s. instead of dealing with their banker corruption problem they're simply printing more dollars in the hopes that by bailing out the creditors during the last five year mortgage fraud. that somehow the growth engine will start up at some point and what we're seeing is of course the exact opposite they're just exacerbating the problem so that's the problem with the u.s. dollar as a reserve currency but now china is also printing up lots of arm day this kind of undermines undercuts the redback as a reserve currency going forward isn't that the case or how are they addressing that yes absolutely and i think that's why. we've seen some recent acceleratio

china and the u.s. are beginning to get a bit strange that china is up upping their military presence there upping their stealth jet fighter technology exciter up so currency wars would seem perfectly in keeping with the idea of pay back on rating agency would politicize that decision somewhat because the world war three were all engaged with now is a currency war so. is there this type of talk inside china here in shanghai to people see this as an emerging currency war today is this type of language at all you're you're right there in shanghai is this what's going on i don't see many people talking of the currency wars is actually the political it's becoming more of a political issue here to keep the renminbi lol into keep should be individually united states and have them print them that's what's finally catching people's notice hears it why are we where we were twelve hours a day in the factories and should be shipping products over united states and just have them print money though obviously the u.

the course of team travels to be more of a region on china's doorstep discovers how russia and china. cultures into the wind that's just a few minutes away right here on our. unrest has broken out in central kiev after a ukrainian judge ordered the arrest of former prime minister yulia timoshenko citing consumptive court she has been on trial ever since since june that is alleged misuse of power by signing gas deals with russia in two thousand and nine artie's alexina ships and has more from the ukrainian capital. it's a shame go the country so ukraine's former prime minister is placed on the arrest before that she was simply forbidden to leave the country now the trial will continue with her being in the detention center behind bars now indeed the atmosphere in and outside the court building here in central kiev has been completely electrifying over the past month or so the supporters of you to cycle several hundred of them have been gathering here voicing their protest against what they describe as a politicized case and indeed today the scenes were pretty much reminding of all too

about the dollar china is to g.d.p. ratio is the least as bad as america's it's probably almost double and so clearly you have a country which is looks like greece but it's not talking about its so-called debt and when you add that hidden debt to be acknowledged in china probably has a debt to g.d.p. ratio of about one hundred fifty to one hundred sixty percent of the goal of greece for instance thinking of its massive population i suppose it can capitalize on its people by employing so many people within the military and therefore boosting the economies in some ways well clearly the military has become much more popular for college graduates because they have not been able really to find work quickly in the civilian economy so the people's liberation army will do and has actually done better on recruiting in the last three years what's this going to do with the relations between china and the u.s. . but eventually it's going to sour them even further before that it is going to really undermine chinese foreign policy be

is going to help the inflation problem in china and i think go the central bank here in china finally is coming to a conclusion as well how do you know one of the biggest problems with the u.s. dollar of course is that the u.s. instead of dealing with their banker corruption problem they're simply printing more dollars to end the hopes that by bailing out the creditors during the last five year mortgage fraud that somehow the growth engine will start up at some point and what we're seeing is of course the exact opposite they're just exacerbating the problem so that's a problem with the u.s. dollar as a reserve currency but about china is also printing up lots of arm day this kind of undermines undercuts the redback as a reserve currency going forward isn't that the case or how are they expressing that yes absolutely and i think that's why we've seen some recent so recent in the renminbi. increase this year i think we will continue to see an increase much faster we won't see any one time appreciation but we will see much faster appreciate an appreciation of the room and be once the cur

and unsurprisingly the influence of china and its culture is everywhere here. high heels and a hot house it's not a look many women can pull off but then when a risk there is she prefers to be called in russia as new ordinary woman having first arrived in one thousand and ten percent in the early ninety's she and her family went their way up from running a small cafe shining this large construction company. and spread across the region's capital blood of their shins get no fewer than four large chinese restaurants full most nights and serving up a taste of the orient to russian diners aids and i'm disappointed failure and one that the mother of two says she couldn't have built in china you. just said i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy access to chinese goods equipment and a ready workforce. the risks are is just one of a growing band a successful chinese entrepreneurs operating and russia's far east where a river is all that separates the two countries easy proximity can't hold with

china is the largest hold over u.s. debt. china is seeing red, i suppose. we'll take a look at china's anger and find out what beijing plans to do about it. that's ahead. >>> from cnn london, i'm charles hodson. >> and i'm andrew stevens in hong kong. welcome back. you're watching "world business today." >> okay. let's see what's going on in the european market. we're now two minutes into the trading day and we are seeing some of terrell gains fading away there, certainly in terms of the dax. that's off by 2/3 of a percent. a scant gain there for the zurich smi. by the way swiss unemployment held steady at 3%. about what asia, andrew? >> well, charles, as we've been saying, a much worse reaction, stronger reaction in asia to that downgrade today pretty much right across the region. obviously asia is an exporter. obviously u.s. is such a key part of the markets. if you take a look at the numbers there, you see it. that's the damage today. what i would say is it was worse earlier, so there's something at least a little bit of relief toward the end of the day.

china is catching up quick. i want to end with this brief point which is this -- we must learn from each other in a spirit of humility, with dignity. china has a great civilization in the past and present. china has work to do to be better. in the united states has a great history but work to do. we can learn from one another, push one another, criticize ourselves and criticize one another said that we will both be more democratic and more free. that is what is so wonderful about this discussion. tavis: i had a wonderful time here. it is the students here in beijing and their counterparts in the u.s. that will decide how our two countries deal with each other in the future. i have come away from this journey as i have with some of the other's thinking that what we need to do is talk to each other and listen to each other and fines -- and find what makes us the same residential land on what makes us different. >thank you for hanging out with us. . next time, keep the faithext tip our trip to china. >> every commu

/china trade relations. that is next. ♪ sing polly wolly doodle all the day ♪ ♪ hah >>> welcome back live from cnn hong kong and cnn london, this is "world business today." >>> many americans are wary of the products that china ships to the u.s. they're also worried about the overall economics, particularly the trade between them. he's making chopsticks and selling them to china at the rate of some 4 million a day. john vause has the story. >> reporter: jay li knows better than most the art of the possible. >> everybody says are you crazy? >> reporter: crazy because he's making chopsticks in the u.s. and selling them. >> this is a chopping machine. this is like a small pressing machine, the making of chopsticks. >> reporter: that's 600 chopsticks a minute, 2 million a day. his factory is running nonstop, six days a week. >> did you ever think you knew so much about chopsticks? >> no. >> reporter: jay was born in korea, moved to the u.s., tried a few businesses and saw his chance. the chinese use a stag

us from china and unsurprisingly the influence of. is everywhere here. high heels and a hard hat it's not a look many women can pull off but then lilly white on arrests or if she prefers to be called in russia is no ordinary woman having first arrived in a more as an interpreter and there were nineteen she and her family worked their way up from running a small cafe to owning this large construction company. and spread across the region's capital blagoveshchensk no fewer than four large chinese restaurants full most nights and serving up the taste of the orient to russian dinah's it's an impressive pool failure and one that the mother of two says she couldn't built in china if you. use the word of said i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy our existing chinese goods and equipment and are already working for someone new mr is just one of a growing band a successful chinese entrepreneurs operating in russia's far east where a river is all that separates the two countries easy prox

and women in china. >> i think women have more freedom in china than elshere. that's how i feel. >> charlie: why do you say that. >> i see my friends in this country, for instance. won need to attend so many things with family and children and so on. very littlhelp. where in china you would typically have three generations live together. i have children and my parents would be there to help. for urban middle classamil nearly every family would have domestic help. so you have a vast infrastructure in ina because china has such a high population there's always people from rural china coming to the city to look for jobs and therefore they ended up mostly as domestic help. >> charlie: that's e of the great stories of china migration from the rural to urban. >> and that has really freed up women in the city to do, put sursue intellectual purpose they have in life. i see soil chinese women in boardrooms, less with government-owned companies, less in politics. >> charlie: but in entrepreneurship. >> entrepreneurship. >> crlie: we thinabout the expanse of the country a

the first china u.s. governors for, would like to expand my warm congratulations to both sides and best wishes to people from the various sectors of the countries who have long cared for and supported the growth of the relations and the ties our exchanges and cooperation at the sub - level are strong to the growth of china u.s. relations, china and the u.s. have sister provinces and states and 165 cities in treating that the environment, culture and other fields have been expanding and joined in the process. all this has not only contributed to the local development and prosperity of the two countries, but also the other china u.s. relationship and confidence the success continues development of the governors for rahm will build new bridges of cooperation between the two countries at the national level and the new platform of exchange for greater understanding and friendship between the two people making the contribution to the joint efforts in the partnership based on mutual respect and benefits. i wish

china is an interesting foil, because there's a question about china. it is not going to be determined by china, trust me. is not going to be determined by any other country. it is going to be determined by us. the decisions we make, the policies we put in place, that is going to be done by america. if china has problems -- and i hope they do not -- our challenge is greater, because we are integrated into a global economy. >> thank you, thank you very much, mr. secretary. [applause] [unintelligible] [applause] that is a pretty good place to stop. do not that against america. you have to asked jeff immelt, the next speaker. >> to begin with, i will say jeff is the answer to the question, not bob reich. [laughter] i can only imagine what he would ask. our big need in this country is economic growth and jobs. jeff, you are serving as chairman of barack obama's jobs council. my question to you is what can be done in the short term to create jobs in this country, and more importantly, what can we do to regain our competitiveness and create jobs in the united

our counsel general in china, the head of the table tennis association in china. thank you very much for being here. the wonderful guest from our bay area sports organizing committee and the united states table tennis association. thank you for being here as well. 40 years ago, i was studying really hard in college. i was actually studying about china and wondering where my parents came from and what they were doing in those years and what caused them to come to america and give birth to six kids and start us on our journeys in our own education. now, 40 years later, i find myself year as the leftist mayor of any great city in the whole united states, being the mayor of san francisco, and to be part of this really wonderful historic connection between our country and the people's republic of china and to be, of course, celebrating with our citizens here to be the first asian american mayor in the city. this all comes together the same year. we were talking about is so many times the past few weeks as we were getting excited about this visit, to really have the ath

a shortage of properties in china. and then with the very high economic growth, disposable income are increasing significantly and what's important is there's no outlet for the money and then the china market is not overleveraged like in the west. we still have one-third of our buyers coming in to pay full cash. >>> now, warren buffett has been making moves in the markets and he's speaking out about u.s. taxes of the we'll tell you who he says should pay more. here's a hint. he includes himself. luck? i don't trade on luck. i trade on fundamentals. analysis. information. i trade on tradearchitect. this is web-based trading, re-visualized. streaming, real-time quotes. earnings analysis. probability analysis: that's what opportunity looks like. it's all visual. intuitive. and it's available free, wherever the web is. this is how trade strategies are built. tradearchitect. only from td ameritrade. welcome to better trade commission free for 60 days when you open an account. >>> welcome back. you're watching world business

is actually more and more trade is happening in china in asia in the u.s. so there there there are all sorts of currency swaps happening so china is actually expanding the pool of central bank reserves of the u.s. that's right so the chinese are doing bilateral currency swaps with russia. iran and other countries so they've been moving out of the us dollar as world reserve currency status for a while it's like the old joke about the husband knowing the last one to know that his wife's been cheating on him the american people are the last ones in the world to know that the rest of the world has been cheating on the us dollar they've abandoned the us dollar years ago it only now is becoming an issue in the us but it's been an issue around the world ever since china became part of the world trade organization and you have this massive transfer of labor from the us to china taking advantage of the so-called wage arbitrage thanks to bill clinton which gutted manufacturing in america and when they talk about this debt ceiling and the need to stimulate and the nee

and unsurprisingly the influence of china and its culture is everywhere here. high heels and a hard hat it's not a look many women can pull off but then lily white on a restaurant she prefers to be called in russia is no ordinary woman having first arrived in a mall as an interpreter in the early ninety's she and her family worked their way up from running a small cafe shining this large construction company. and spread across the region's capital blagoveshchensk no fewer than four large chinese restaurants full most nights and serving up the taste of the orient to russian dinah's it's an impressive pool failure and one that the mother of two says she couldn't have built in china if you use that i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy our existing chinese goods and equipment and are already working for someone new mr is just one of a growing band a successful chinese entrepreneurs operating in russia's far east where a river is all that separates the two countries easy proximity coupled

china has not been the engine of world growth. i mean, to be an engine of growth, you've got to accept imports to create manufacturing in other countries. chine is is an exporter and because of its predatory policies a lot of manufacturing that now occurs in china should be occurring elsewhere. also they have problems with their domestic consumption, which is not growing as fast as it should, and imports in china, which would create growth elsewhere, to be a real engine of world growth, they're not growing as fast as they should. the real engine of world growth remains the u.s. consumer who is just about tapped out, by the way, and that's a real problem for china because last year 149.2% of china's overall trade surplus related to sales in the united states. >> brown: yasheng huang, weigh in there. do you see more potential for positive growth from china? >> the imports are increasing, and the imports from the united states into china are also increasing. i think the bigger problem is not so much the import per se. the bigger prob

-china relations. our round table conversation on china is coming up right now. >> every community has a martin luther king boulevard. it is the cornerstone we all know. it is not just a street, a boulevard, but a place where wal-mart stands together with your community. >> nationwide insurance supports tavis smiley. with every question and every answer, nationwide insurance is proud to join tavis in working to improve financial literacy and remove obstacles to economic empowerment one conversation at a time. nationwide is on your side. >> and by contributions to your pbs station from the viewers like you. thank you. ♪ tavis: i am pleased to be joined by a terrific and distinguished panel. first up is john chan, former chair of the c-100. cindy fan is the dean of social sciences dominic king is the ceo of east west bank here in california. and the ambassador who serve as liaison to china for director steven spielberg. let me start with you. we were talking a moment ago about my own feelings -- i talk

-china relationship. i have to tell you that we're not going to project that might even though we're still 25% of the world's g.d.p. until such time as we get our own economic house in order. so longer term, i would argue that the best u.s.-china policy is that which must take place right here on the homefront and that's getting our economy back in working order, which is to create a more competitive environment here. we don't have an environment that is conducive to job growth. our taxes are dilapidated. they need to be changed. they need to be updated. they need to be simplified, flattened and more competitive. we have regulatory barriers and a lot of red tape. that makes it difficult for business to start up and indeed for us to maintain any real industrial base in our country. there are things like energy independence that are real opportunities for this country that could be job creators and allow this economy to really move forward in ways that would benefit this nation. it's all there. it all needs

five here bears the label made in china and all the sellers also come from china and let me tell you it's absolutely packed in fights here and a period like this every single day so clearly business is booming. i've been here for three years i love china as there weren't enough jobs things are going well here you can get things really cheap here which is great if you've got a large family the quality varies hugely but on balance i think we're lucky to have chinese traders here russian goods just can't compete on pricing and by hopping on one of the many packed ferries that cross their more river every day rushing consumers can enjoy an even more authentic chinese shopping experience audi is with a slight slavic flavor they're keen for a bargain and in the process help to fuel the chinese economy it's led sounds of fear that russia's far east is being exploited by its entrepreneurial neighbor. pessimists revel in self pity at the sight of china forging ahead while optimists think of ways to develop blagoveshchensk of the same pace using chinese expertise capital and labor i believe ou

>> guest: china, the modern china, default about 2000 years ago and when china was unified, and then it was discovered -- at bureaucracy that was elected by competitive examinations, so in that sense it was more modern at that period. bot, china had a governing philosophy which was confucianism and a governing bureaucracy which operated on a national basis, and therefore when other societies -- location when china was -- by its neighbors but they didn't know how to govern it and they needed the chinese bureaucracy. so on at least two occasions in chinese history, foreigners came in, conquered the country, used the chinese bureaucracy to govern it and became signed if i themselves. so china expanded sometimes by the opposite of western ways, not by conquest but by being conquered and then segment find the conference. the mongolians on one occasion and the manchus from the north in the netherlands. >> host: it is a much more efficient way, isn't it? you also say that because china was never really forced to engage with larger civilizations in the world, it remained basically insular, b

picking up a lot of moisture from the south china sea as well as the east china sea, especially in and around shanghai. could experience some pockets of heavy rain as well as thunderstorms breaking out there. so that's something to watch out for. across the korean peninsula, light showers will touch the west coast of the peninsula here. meanwhile for japan, lots of humid air coming in from the sea of japan. that could certainly trigger sharp showers along the west coast of the country. but otherwise, looking at fair amounts of sunshine. to the south of japan, we are seeing a bit of development in the rain clouds here. it is a tropical depression. in fact, soon to become a tropical storm by the end of the night. but at this point, it doesn't look like it's going to be having a huge impact on japan. it may bring some high waves in the days to come. temperatures will stay hot across much of japan today. tokyo rising to 35 degrees. elsewhere looking at temperatures in the mid 30s. again, especially for the contour areas, you could really be experiencing that intense heat and humidity today

there's a slick battle brewing between china and the u.s. at stake canada's oil so what will win out principles or economic interests. and as u.s. president obama rides a bus across america trying to ease economic worries france and germany are pushing for a common sense approach to saving the eurozone by actually balancing their budgets so should the u.s. follow suit. which. is meant to. run the economy to russia itself or through national systems and that may be true but. is this still technology meant to a global revolutionaries so could it also be an excuse for the u.s. to launch it or to global playground. good evening it's wednesday august seventeenth i'm lauren lyster here in washington d.c. and you're watching our t.v. while president obama is in his old home of illinois today he's riding around the midwest on a reported one point one million dollars bus paid for taxpayers mind you unveiling a plan to convince the news focused on creating jobs oh yeah and it is not a reelection campaign sure we will have more on that later in our sho

and women in china. >> i think women have more freedom in china than elshere. that's how i feel. >> charlie: why do you say that. >> i see my friends in this country, for instance. won need to attend so many things with family and children and so on. very littlhelp. where in china you would typically have three generations live together. i have children and my parents would be there to help. for urban middle classamil nearly every family would have domestic help. so you have a vast infrastructure in ina because china has such a high population there's always people from rural china coming to the city to look for jobs and therefore they ended up mostly as domestic help. >> charlie: that's e of the great stories of china migration from the rural to urban. >> and that has really freed up women in the city to do, put sursue intellectual purpose they have in life. i see soil chinese women in boardrooms, less with government-owned companies, less in politics. >> charlie: but in entrepreneurship. >> entrepreneurship. >> charlie: we thinabout the expanse of the country

for china, particularly concerned about weapons sales to taiwan and china hope that the u.s. should reduce or even stop weapons sales to taiwan and also concerned about the military exercise. economic issues will also be an important part of the discussion, china is concerned about the investment, particularly china has $1.21 trillion of treasury bond in the u.s. it's very much concerned about security. for u.s. want china to be more more cooperative and continue to buy the u.s. treasury bonds and also to have more banners that trade, rather than hoping that the china will appreciate its r&b. >> so, chang li, you mentioned about the south china sea disputes and the u.s. armed sales with taiwan, indeed a cause of tension for both sides. the hope that they'll be able to resolve these issues during this meeting. >> well, but of course both sides should listen to each other. and -- but also at the same time we should -- [inaudible] because both really need each other and economically, they are so much integrated. but also there are political issues because next year will be a pol

everything is made in china. it's cheaper to produce and manufacture stuff in china. i guess that's where everybody goes. >> reporter: while everything from toys to electronics are being made in china, not as much money as you might expect goes abroad. that's according to economists at the federal reserve bank of san francisco. they found that chinese goods ranging from furniture to clothes and shoes only make up 2.7% of u.s. personal consumption expenditures. economists say most of the money goes to the u.s. because of the services tied to those goods. >> when the good arrives, it needs to be transported, needs to be insured, it needs to be shelved, stored. people who do it need to be paid and retail space needs to be paid for. >> reporter: this economist says for every dollar spent on a product made in china, 55 cents goes towards services produced in the u.s., while 45 cents goes to china. not everyone is buying including michelman dell of the progressive policy institute who calls the data misleading. >> the data that they're using seems to show that the import --

-china relationship. we believe and we will continue to use military engagement with china as one of several means to the asia pacific region, encourage them to play a constructive role in the region and partner with the united states and address common security challenges. let me wrap up by offering that we hope the report, which we think has a lot of interesting and useful information and analysis in it will contribute in a responsible fashion to the many debates ongoing with respect to the military dimension of china's military modernization. let me turn now to your questions. >> you said at the beginning that the chinese military build up was destabling -- destabilizing and you went through a long list. can you say which part of that build up you consider destabilizing? >> i think i said it was potentially destabilizing. that speaks again to the importantance of having and engagement between our military and security establishment so we can better understand china's intentions, china's thinking and ap

>> home is china. my full humanity and certainly, i think, the flower of what i hope and believe is any intellectual potential. the welcome that i've received here, what i have seen and learned about family and the ability to make the society flourish are things that i have learned in china and i think it is fair to say this feels like home to me. tavis: faith. china. china, faith. is that oxymoronic? are there people of faith? do people in china have a faith or is it just about hard work and family? >> that's a good question. every different sector, creed, they all exist here. i think that you would be surprised. you walk into a church in china, they are jam-packed and i worship, it shocked me. it is a beautiful thing to see. don't necessarily believe the hype here. i also think that in china, there is a more pragmatic faith. it is a more tangible faith that doesn't really fit nicely in the western paradigm but the faith is in family. and i know that -- i'm not trying to say in the west we don't have

also, china in 1971 was very different from china now or china on my next trip, which was 25 years later. we were in china for eight very full days. the highlight of the trip was meeting the premier at the great hall of the people. we also went to the great wall, and they closed the wall just for us that date. other highlights for me were going to the summer palace, to a chinese opera, to a technical university, to an industrial exhibition, to m model commune near shanghai. we ate great chinese food and experienced the most wonderful hospitality. the chinese girls taught me two songs. "the east is red" and "sailing the seas depends on the helmsman." we learned about chinese communism and read mal's "little red book." and of course, we played friendship matches. we played in three cities -- and fortunately, very fortunately for me, the mantra over and over again was friendship first, competition second. i would like to brag here today that i won three matches out of four in china. and it was only do -- and i'm very well aware it was only due to the philosophy, "friendship first, competiti

is actually more and more trade is happening in china in asia in the u.s. so there there there are all sorts of currency swaps happening so china is actually expanding the pool of central bank reserves of the u.s. that's right so the chinese are doing bilateral currency swaps with russia iran and other countries so they've been moving out of the u.s. dollar as world reserve currency status for a while it's like the old joke about the husband knowing the last one to know that his wife's been cheating on him the american people are the last ones in the world to know that the rest of the world has been cheating on the us dollar they've abandoned the u.s. dollar years ago and only now is it becoming an issue in the us but it's been an issue around the world ever since china became part of the world trade organization and you had this massive transfer of labor from the u.s. to china taking advantage of the so-called wage arbitrage thanks to bill clinton which gutted manufacturing in america and when they talk about this debt ceiling and the need to stimulate and

is actually more and more trade is happening in china in asia in the u.s. so they're there they're all sorts of currency swaps happening so china is actually expanding the pool of central bank reserves of the u.s. that's right so the chinese are doing bilateral currency swaps with russia iran and other countries so they've been moving out of the u.s. dollar as world reserve currency status for a while it's like the old joke about the husband knowing the last one to know that his wife's been cheating on him the american people are the last ones in the world to know that the rest of the world has been cheating on the us dollar they've abandoned the u.s. dollar years ago and only now is it becoming an issue in the us but it's been an issue around the world ever since china became part of the world trade organization and you had this massive transfer of labor from the u.s. to china taking advantage of the so-called wage arbitrage thanks to bill clinton which gutted manufacturing in america and when they talk about this debt ceiling and the need to stimulate and

china's special envoy wu expressed hope for the resumption of the six party talks. >> translator: china welcomes dialogue between china japan and north korea. we hope it moves forward. >>> the governoring democratic party of japan has agreed to accept a bill to promote renewable energy. the bill would compel power utilities to buy solar, wind and other powers at fixed prices for certain periods. the dpg held talks with the liberal democratic party and the new komeito party. the dbg accepted proposals from the two opposition parties. and introducing measures to curtail the burden on large scale users. the chiefs of the three parties agreed to revise the bill and have it enacted as quickly as possible. the pass of the bill is one sited by naoto kan for his resignation. >>> thursday marked exactly five months since the march 11th earthquake and tsunami. memorial ceremonies were held across the quake-hit region to commemorate the victims. at a retirement home in higashi city, 50 residents and 11 staffers were killed. despite the fact the facility is scheduled to be demolished, surviving sta

and unsurprisingly the influence of china and its culture is everywhere here. high heels and a hard hat it's not a look many women can pull off but their little one on a wrist or if she prefers to be called in russia is no ordinary woman having first arrived in a mall as an interpreter in the early ninety's she and her family work their way up from running a small cafe shining this large construction company. and spread across the region's capital blogger there no fewer than four large chinese restaurants full most nights and serving up the taste of the orient to russians on line is it's an impressive pool failure and one that the mother of two says she couldn't have built in china. if they said i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy access to chinese goods equipment and already workforce. and the receiver is just one of a growing vandar successful chinese entrepreneurs operating in russia's far east where a river is longer that separates the two countries easy proximity coupled with fa

and unsurprisingly the influence of china and its culture is everywhere here. high heels and a hard hat it's not a look many women can pull off but then lilly while on a wrist or if she prefers to be called in russia is no ordinary woman having first arrived in a mall as an interpreter in the early ninety's she and her family were at their way up from running a small cafe churning this large construction company. and spread across the region's capital blogger versions get no fewer than four large chinese restaurants full most nights and serving up a taste of the orient to russian diners it's an impressive pool failure and one that the mother of two says she couldn't have built in china if you. use that i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy access to chinese goods equipment and a ready workforce. new receiver is just one of a growing band or successful chinese entrepreneurs operating in russia's far east where a river is all that separates the two countries easy proximity coupled with f