-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

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

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 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 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 in the hopes that by bailing out the creditors during the last five year mortgage fraud. that somehow the growth engine or 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 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 they dress in that yes absolutely and i think that's why we've seen some recent extol rhaetian in the rim a

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 the u.s. will indeed continue making payments on that china also continues to develop at a rapid rate leading the way on everything from industry to technology to their standing in the global economy but i really want to focus on this relationship between the two countries as we move ahead in what is a trying time for the u.s. and an increase increasingly successful time for china while to help me do that earlier i spoke to former ambassador to saudi arabia chas freeman and i asked him how things have changed since the days when former president ronald reagan was pledging to china that the u.s. would stand by its side here's his response. politically we do have a lot of operation economically were incredibly interview and. there's a problem for both of us jobs in the united states migrating to china. the american dollar is held by trying to use in such quantity that they're

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

zero or are perceived. >> guest: china evolve actually about 2000 years ago, and when china was unified and then it was governed by a bureaucracy that was elected by competitive examination, so in that sense it was more modern during that period. but, china had a governing philosophy which was confucianism and a governing bureaucracy which operated on a national basis, and therefore when other occasionally china was conquered 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 pair christie to govern net and became sanctified themselves. china explained that sometimes by the opposite of western ways, not by conquest, but by being conquered and then -- the conquerors. the mongolians on one occasions and the manchus from the north. >> 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, but because of that

china we've seen china's car market now become the world's largest car market and i think major companies are looking to for growth in asia pacific and they did birthing 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 they're adding about five thousand people in asia pacific. carcase economists daniel tarbush says the asian economy will easily withstand america and europe storm our 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 that they were able t

>> 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.

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

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:

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. [

being targeted say this is very likely the work of china as bad as china the bogeyman this time in the shady rat scandal but joining me live from the u.k. and oxford is graham cluley he's senior technology called consultant at the post to tell us of a problem with us thanks for being with us now i know you're a cyber security expert and you're one of the few that hasn't joined most that we're hearing from in the media saying that china is to blame for this even though there's no evidence of it so why is that why are you the only one thing this. was just all one is a little bit of proof it seems so easy to point a finger at china and say that you must be the ones who have done this and the proof simply isn't there now i'm not saying that china doesn't have computers i'm sure they do but you know what so do the belgians so do the greeks over the french the americans the canadians everybody's acted and it's just too easy to point fingers just in one direction so why do you think everyone does that people in your industry and the media that's all too happy just to repeat that why does ever

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

and all surprisingly 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 arrests 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 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 have built in china if you. use the good of it i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy access to chinese goods and equipment and are ready workforce. new research is just one of a growing band of successful chinese entrepreneurs operating in russia's far east where a river is all that separates the two countries easy proximity c

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

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

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.

north korean's ledse ties with china. were american-made. let's see what japan is doing to develop disaster relief robots. the huge earthquake followed by giant tsunami on march 11th caused a disaster at the fukushima daiichi power plant, a level on par with the chernobyl disaster. the first machine to enter the site was a u.s.-made military robot. followed by another foreign-made robot, warrior, which could lift objects weighing up to 100 kilograms. it was four months later that quince, a japanese rescue robot, was finally introduced. why were japanese robots ineffective immediately after the accident? this professor of tohoku university who led the development of quince says japanese robots were not designed to work in a nuclear facility. >> translator: japanese disaster response robots are almost always developed to operate among debris. they were never intended for use in a nuclear reactor. it was beyond anyone's imagination. >> reporter: but there was a time in japan when robots were developed for use in nuclear reac

china's along the coast -- china along the coast. there are rules against people relocating to other places. that is why have the migrant workers, single people, they let their families behind. the families now are slowly being allowed to join them. this is the big difference. you can do something credit be quickly. but there is a cause. high-speed trains -- they are able to do this in a short span but they sacrificed some kind of regulatory safety considerations. so there is a cost to this kind of speed and forceful decision making. host: one story related to that -- high-speed rail crash that killed 20 people. this also goes back to the centralized planning part of the government. it is an "the new york times" today. fiat of -- fired official gets a new post. guest: i don't think what you would call public accountability in china. host: isn't it changing with the internet? guest: in the past the person would not have been fired, he would be wrong -- relocated -- now there is a necessity. why is given something else? he actually fel

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

good relations with china, we also need to have a good relationship with the people who live in this area, which makes up two-thirds of the country. >>> the world's largest personal computermaker is planning on hitting the refresh button. hewlett-packard says it's going to explore spinning off the pc business into a separate company. hp will evaluate its low profit personal systems group and make the decision on the spinoff within the next 18 months. it acquired compaq computer in 2002 and currently holds a nearly 20% share in the global pc market. but the company is reevaluating things because the growing demand for tablet computers and smartphones is hurting personal computer sales. hewlett-packard apparently plans to shift its focus to higher profit businesses including cloud computing and corporate software services. the company also says it agreed to purchase the british software firm otonomy for $10.3 billion. >>> "newsline" is the place to turn to for the latest on japan post-march 11th. we have two segments offering two unique perspectives on the fallout from the earthquake a

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

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

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 pan. 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.

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

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

>> 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

-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

/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

seen jobs shipped overseas but he's opening up a car factory in china luckily i wasn't the only one to pick up on that particular . now explain you're building a factory in china but this is going to create american jobs for there's a lot of disconnects what we're doing in china is because the high tariffs we have to build there it's the fastest growing auto market in the world so the cars will be built there but all the core products all the the end all work the court agreed to go inside the car the power train the van we're all made and shipped over there what great news i am sick and tired of seeing our jobs go into china. a freakin naisi because china has tariffs that's taxes on imports as we used to have here from seventy nine hundred one so until the one nine hundred ninety s. or call of needs to play ball and give china a brand new factory it will employ chinese workers and make profits for the chinese economy just so he can open up a much smaller factory in mississippi to build car parts employ a few american workers in a so-called right to work for less state i guess that's

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 rights of 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 vice 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 u.s. 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 have 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 when they talk about this debt ceiling and the need to stimulate and the n

that china might over the u.s. next year in many in many regards china has already overtaken clearly. the suppose it number one economy in the united states and that's when you're looking at the physical economy physical production there on the purchasing power adjusted basis because they're renminbi is undervalued and you need to reflect that when looking at economic sizes it does seem a bit ironic though doesn't it that china is the biggest foreign buyer of u.s. treasuries so you would wonder how a country with approximately seventy percent of reserves invested in dollar assets could really benefit from the u.s. as current problems. well i didn't say they go you said that. but basically you know you have to put your money somewhere at the end of the day and what you need to understand is first of all what's the nature of the rest of that crisis projection by standard and poor's made in the year two thousand there were six years before now where they actually projected that all the major western governments were h

points across there but china shipping it from canada to you know to to china is going to be extremely difficult to do so you know make them work for what you think of trying to get their hands on it then it's ok as long as america isn't doing it and we're just. very difficult for china to do what they want to do the reason that they're talking about doing a pipeline down to houston is because the pipeline that was supposed to go across country to that west coast united states which would make it much more accessible to china is mired in lawsuits and other legal and i don't know the battles so china will basically not be able to type it would have to ship it and it's a lot more difficult to ship and refine than it would be to ship you know too complicated to the united states yeah unfortunately it seems like that's something that china is willing to do right and a lot of people are scared because they're just going around the world buying up resources buying up land a little real politic i guess you could call it and they don't care who they're making deals with or where. i can we have

>> 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

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

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

obviously, the optic is that china is doing what china perceives to be in china's interest. but there are implications for the region itself. let me ask, does china take note of some of the things occurring as a result of this think agent in the region? more importantly, does it care? >> that's a loaded question, no doubt. what does china sea as happening based on its engagement and d.c. that changing based on the political question of the chinese saying there are implications that we need to take note of them? >> i feel a bit deceiving the case you promised me questions before we got onstage. i'm going to take the case of venezuela. one thing that struck me there and that made the activities in venezuela among the most interesting i studied was that's the bank is the very concerned about getting paid back. even though the bank's loans total $32.6 billion, the biggest loan was extended last summer and it seems to me they're very careful in thinking about how that loan was going to be disbursed and what types of projects the loans would be spent on. this had to do with the fa

thornton to china. he served as senior director for asia on the national security council on the clinton administration and has written a huge number of books on chinese politics and economics including -- i'm looking for your last book. you want to tell us -- i don't have it here. >> the china challenge. >> the china challenge which is about how to do business in china or how not to do business in china. mauricio cardennas is the director of our latin american initiative. before joining brookings mauricio served as director of national planning and minister of economic development. he's published several books and academic papers in his period as a think tank researcher. and has taught economics in various places including university of california at berkeley. so i wanted to start with tom mann and have you, tom, just analyze the nature of the dysfunction and whether you see this as somehow getting fixed anytime soon. >> i can only smile, martin. i'm afraid i'm going to start this session off without m

china sea. the official welcomed u.s. he r. the event comes amid disputes between vietnam and other countries and china over islands in the south china sea. three days before the official visit, china test launched its first aircraft carrier as part of its military build y up. it had been refurbished. >>> the sri lanka government is carrying out a major study of wild elephants in an effort to protect the animals. workers are now going over data from a recent consensus. it exists of elephant and farmers that's become serious in the country. there are an estimated 500 wild elephants in sri lanka. about 250 of them are killed every year mostly by farmers defending their crops and villages. sri lanka's three day survey ended on saturday. nearly 4,000 government employees and wildlife workers checked more than 1500 locations including watering holes. they also gathered information about the elephants' age and gender. one chased after a car that was carrying researchers. they aim to complete the study

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