tv [untitled] June 5, 2012 4:30am-5:00am EDT
this is a time for a look at the headlines that america closes the net around during the song for the f.b.i. not sing his contacts in the towns attempt to gather dirt on the world's most famous one. eastern union putin is looking for some of china's economic fortune cookies moscow and beijing continue to meet on the same page when it comes to world politics. and egypt's muslim brotherhood sides with moves from a million man protest one for execution units who also sweep aside the presidential election rival and even votes. coming up next talk to often subramanian from
the peterson institute for international economics he gives his prediction on who will be holding the reins of power in the not too distant future. i'm sitting down with arvind subramanian leading economist fellow at the peterson institute for international economics and the center for global development his book is called eclipse living in the shadow of china's economic dominance and president obama. that chinese leader. it's a really dominating i mean many in the u.s. would say that the u.s. is still the richest country in the all that is the most powerful economy at the moment china's g.d.p. for example is smaller than that of the united states that's true but if you
measure it in terms of purchasing power it's as big as the united states one second china is already the world's largest trade. tree china is a big net creditor to the world it finances the u.s. and the u.s. is a debtor so it's this combination of the size of the economy the fact the big trader and the fact that it's a creditor confers on it a lot of power that's today and over the next ten fifteen years all these numbers are going to go in china's favor so the china's going to become an even bigger economy than the u.s. and even bigger treated in the u.s. and continue to be you know financing the u.s. so that combination is what is making china very dominant let me give you one example just one example so take the fact that china you know finances the u.s. right or to so much cash three point three trillion dollars worth of cash if europe
gets into trouble oh no it happened which country in the world has the ability to be allowed to you're not the united states china because there's three trillion dollars and when it has that power or that ability it can always exercise power what could be political ramifications for that as far as crucial foreign policy issues for example over syria will the u.s. pay more attention to what china thinks about certain issues well if you take you down for example i think it's you know the u.s. wants china to be on its site and you know if china were to sit take north korea for example you know it's a great example you know if china were on the side of the u.s. . things would be so much easier but but the fact that china has an independent view on north korea makes chinese american dealings with north korea that much more difficult in fact in my book i begin my book with a kind of fantasy scenario where i say that you know ten years from now if the
united states gets into so much economic trouble right that it will have to borrow money and if only china has the money. provide the u.s. china might say well we don't like your military presence in the pacific your naval presence and you have to you know get rid of them so economic power can always be leveraged for political and foreign policy objectives the good things that one of the reasons not to get over kind of anxious about this is that it is a mutually dependent relationship you know so one country doesn't want to inflict too much damage on the other because it backfires on yourself but that being said there are areas where you know some countries you know china has more power and it could use that too and i mean like for example as i said you're on north korea or iran or you know the fact it's just so much financial power and economic power can always be used for political ends but isn't that a good thing in a sense that there it restores some kind of balance when there is not just one kid
on the block ruling everything but there is they cared consulting with everyone else because it is dependent on another and that's a good point but but there are you know they can be two views on this right one view is that after world war two the u.s. was able to determine how the global economic system would function right and broadly it had a liberal view you know there should be more free flow of goods and services and so on which everyone benefited from and the country that benefited most from that was china you know the fact that markets were open so some would say that if you have one big good guy maybe it's better than having multiple guys who kind of kind of relating to you know what you can do two thousand of a very unilateral world i guess that one good guy can actually turn into a bad guy at some point that's a risk that's exactly but but the flip side of having multiple you know sources of
power is that you can also get paralysis in decision making so whether cooperation is. easier with you no one has had more was brought to you ok or would like to you know sources of power multiple veto points making cooperation more difficult more easy is an open question you can argue it both ways but i would argue for multiple powers because when we're talking about a unilateral approach we have an example of that iraq. absolutely that's a very good point that nobody was there to stop it exactly so i think the point you know it's a very good point you make is that you know if you have you know a one one hour you know even if they can sometimes you know do things unilaterally which are bad objectives because they want to check that the u.s. is the world's biggest debtor and it seems the main way they address the gigantic
that problem is the money printing machine. has money printing become america's main business. well i think yes and no i think it's on the one hand you know to have printed a lot of money in the last let's say three four years you know but i think they would argue with some i think fairness that that's what you needed to get this economy back. when it went into you know the kind of great recession after the crisis you wrote a lot about china keeping their currency deliberately undervalued to preserve their competitive advantage the u.s. is terribly unhappy about that yeah but the us on the other hand is also playing with their currency constantly printing money that they don't have to pay out their dead and all die but don't you see the hypocrisy when when the u.s.
is bashing china over their currency policy but at the same time playing with their own currency in a way that is not necessarily fair well i would say that in. i think there is a pattern a little but i think the power is overdone the funny thing is the following that even though the u.s. has been printing a lot of money in the last two to three years after the crisis the dollar has not weakened it has become stronger. so you print a lot of money if you really want to make your currency cheap uncompetitive you know you would print a lot of money but because the rest of the world still has so much confidence in the dollar when there's a crisis the all come to dollars and the dollar becomes strong so the effect of all this printing money has not been to make the currency cheaper in a way to china's policies has made the chinese currency cheaper what you've been talking about is basically the world confidence in u.s. dollar and dollar dominance allows the u.s.
to live beyond its means essentially to some extent yet so how long can it last well the thing is that it cannot last indefinitely because. in my book i argue that because of this the devise of china and the fact that the chinese economy is becoming so strong it's a credit to big trade or gradually over time the chinese currency would start to become like you know kind of displace the dollar because people will have more confidence in the chinese currency that in the american goods that's going to be a gradual process and you know but at some point it could start to happen gradually and that that point you know the u.s. no longer has the ability to live beyond its means like you said because the dollar's dominant but but that's going to happen over the next ten fifteen years the i.m.f.'s traditionally been dominated by europe and the united states it was
set up that way and he here you have this massive that crisis in years on countries and you have the years on countries asking nine years on countries to contribute more resources to the i.m.f. to help them out do you think this current crisis could change the way the i.m.f. works to sort of shift the centers of power but it's a very good question i think to some extent it's happening already it's happening already because you know the formal voting is still very much biased as you said in favor of europe and united states but the more the more europe gets into trouble the more it will need money from the outside you know frankly you know war was. don't have power creditors call the shots and at that stage we know europe starts weakening and it needs money from the outside and if china and russia and brazil have the money to provide it they will ask for you know changing the system they
will have more power we'll say well if you don't do these things we don't give you the money so when you become weak you know it's inevitable that power shifts away from you and that's what the european crisis is actually galvanizing the changes in the international institutions thank you. can use it sigrid laboratory to mukherjee was able to build a new it's most sophisticated robots which on fortunately doesn't give a darn about anything tim's mission to teach creation why it should care about humans and. this is why you should care only on the dog.
with the war going away of the soviet union many people thought that nuclear weapons disappeared. the risk is not zero that something might be going off by mistake especially of nuclear weapons on hair trigger alert. of the victims to use it as a threat. but you know if you keep spending a trillion dollars a year on weapons of eventually you're going to blow everybody up you you know people are dying from these weapons but until we actually see it people don't wake up to nuclear weapons or a bill. that represents all of the firepower of the second world war and this. is the equivalent firepower of the world's nuclear arsenal today.
thanks. america closes the net around julia stands with the f.b.i. now harassing his contacts in apparent attempts to gather dirt on the world's most famous whistleblower. eastern union looking for some of china's economic sanction cookies like moscow and beijing continue to read on the same page when it comes to world politics. and egypt's muslim brotherhood sides with bruce for the million man protest for informal ballots execution i think it could also see some of the presidential election rival before any even but it's. time now for a sports update with reebok.
thanks carrie hello and welcome this is for an artsy with me ramon calls for evan plenty of news up ahead of the next ten minutes or so but first to the headlines. still standing russia's sole representative in the french open maria sharapova books her place in the quarterfinals with a three set win over czech klara as the ball of up. against experienced white knight showdown returns to moscow with a russia usa clash scheduled for thursday with both warriors getting confidence of their victory. and to lift off russia's young weightlifting stories hoping to clinch the country's first ever olympic gold at the london games. but start on the clay courts of the french open where the last russian standing maria sharapova has booked her place in the quarterfinals although she was pushed all the way in her last sixteen tie unseeded czech claros
a ball of of becoming the first player to take a set off sharapova the thirty year old won the second outside but the siberian lated rallied so within over three hours six four six seven six two still he is quiet and that he is up next. is a good chance for me you know i had chances to finish in two sets and i didn't. but i came out strong third said and i guess that's you know really what matters is nice to be in the quarters again. elsewhere not least the fence came to an abrupt and chinese store went crashing out to unseat it cuts off your established at about three six six two six love the seven seed joins the likes of serena williams and victoria czar and go on the sidelines. meanwhile wimbledon champion patrick beat of a breeze task varvara left chunk of the united states as the czech never faced a breakpoint and needed and hour flat to secure a six two six one victory. over the men's side holder rafael nadal stayed on course
for a record seventh it's all second seed spaniard real talk seventeen straight games to thrash one monopole sixty six love six love but was full of respect for the argentinian. i think he's playing broadly the best there is a few syrian but probably not. today. especially last and i said when. he started to muse you know i saw him a little bit. suffering good little bit on court but then so is one of my best friends and feel very sorry for him but in the same time you know he's playing great he's having different. world number four andy murray had a much harder time against a local favorite rashard guess cape breton was seemingly struggling with his hip in the opening set to lose it six one but it's battled back so when it one six six six one six two and remain in conception for his grand slam title. standing in the
way next a spaniard ferrera the number six seed progress at the expense of competitor it marcel granollers and has yet to drop a set answer winning this one six three six two six low so it's raising himself for encounter. i've always found it tough against them on clothes. in matches and practice you know i train with them quite a lot and they get on very well with them and. know each other's goes very well and he's. he's one of the best best players in the world on any surface and smith stuff much. also through its freshman joel for its song the number five seed outstaying study is last fall reinfeldt switzerland and it cites five setter six four seven six three six three six six four the final score waiting in the quarterfinals is world number one of each. former u.s.
open champion juan martin del potro is also through he checked so much burdick in a battle of the big servers he came through in four sets seven six one six six three seven five the argentinian now meets roget better. in football or russia have held their first training session after arriving in poland for the fast approaching european championships coach dick of a caught put his men through their paces just outside warsaw with a defender alexander and you call and midfielder moratti smile of training with a group again russia kick start their year old campaign against the czech republic on friday and have emerged as the in-form side after a stunning it's a three nail in a friendly last week zinni said midfielder room on shirokov back to late brace and that morale boosting victory. also testing the ground early word of the german national team as a crowd of ten thousand fans turned up to watch york and los men workouts in polish born miroslav klose and look at those he received arguably the warmest welcome
while recent injury worry bussy on schweinsteiger also support germany face portugal in their opener on saturday and say they will have to work hard if they are to qualify from their group b. . it's a very tough group. strong teams like the netherlands and portugal we're also among the favorites and then markets not very constitution play. the best member and then we have to start going against portugal. that's amounts of basketball and the n.b.a. were oklahoma the lead in the western conference finals series following a one zero eight one zero three win over san antonio the thunder became the first of its insides to clench and await victory and instrumental for the visiting side work kevin durant's with twenty seven points russell westbrook with twenty three and james harden with twenty the spurs moto geno but he added a whopping thirty four points however that was still not enough as
a home and now take a three two series lead and had a game six which takes place on wednesday on their home court. we just play harder play more together. twenty two says you know it was great and controlling the whole game both as a fool. you know and we kind of follow his lead you know and which is plan together man a plan or you know once you leave everything on the floor you know you're so for good so he's going to keep going. and that brings us to martial arts where the fight night showdown returns to the russian capital for the seventh time this thursday top of the bill will see one of russia's best heavyweight prospects bitterly medical facing american sanchez that twenty nine year old is the vastly more experienced of the two competitors he's won thirteen of his nineteen fights and has competed on the world's biggest stage m.m.a. promotion such as good and belts or his russian opponent however is the three time
world sambo champion whose strength is obvious with four of his seven professional wins by weight seven mission. here is my message to eddie do not relax stay focused i have a lot to offer in the ring i'm looking forward to this fight and i would like to wish andy the best of luck but it's a safe bet i will produce many surprises for him as we pour stuff would be the stanley striking he says he's ready for anywhere so we'll see i love surprises but he was so hopeless surprise that he's a star of this field so we'll see we'll see what happens i think that's a lot of talk once a fire comes. to grow try to throw. though on them picks are just around the corner and one of russia's youngest stars in a weight lifting tatiana sherry now aims to clinch the country's maiden gold and our correspondent confident the top off with one of the strongest women in the
world. weightlifting used to be very popular in the soviet union and the names of olympic and world champions while well known around the country those helston days are over not only because the sport is no longer so popular but also because of the many myths prejudices and negative publicity surrounding weightlifting. go with now television broadcasts weightlifting only rarely people don't know about the sport and believe false stories because once a mother brought her some to me and said she wanted him to start weightlifting so he wouldn't grow very tall it doesn't work like that luckily one of russia's brightest stars in women's weightlifting that jameka shooting or didn't listen to all the stories and put the burden of proof storing the country to its place among the sports heavyweights on her own shoulders it's hard to imagine that the woman who can leave to more than twice her own body weight get involved in this board by
accident as she once knocked on the wrong door in the gym and instead of going to a dance where she went into the weightlifting room they were to illustrate that into this quite by accident but i have never regretted it girls will be girls even if our sport is weightlifting was more than i think that way glitter said strong characters that's what can scare me in my head that women have a much stronger personality who wouldn't but it wasn't hard to discover her talent when she first arrived in the gym you could clearly see how potential at the age of twelve she could lift the weights of amateur athlete i've never heard of young weightlifters who could do that anywhere in the world russia has never won the olympic gold in women's weightlifting since this board was introduced in two thousand while four time european champion and to win it in world champion cashiering the is just twenty one years old and it seems the athlete from the moscow region has plenty of time to claim the world's strongest woman title i give
lots of respect to all my. poignance there are always many good competitors but i don't compete with them and i don't really care who they are my main rival is a barbell in my aim is to beat it because shooting as a result has become much heavier over the last two years and she holds the world record over one hundred forty grams in the snatch however due to the strength of the chinese and south korean rivals even this weight might not be enough for the gold in london though the russian will be going all out to claim a personal best and made the medal konstantin bought up a party. i'll be back with another updates in less than a couple of hours from now but our you tube channel is available at any time just look for artsy sport news and all season.
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