video on demand keys my old calls and r.s.s. feeds now in the palm of your. dot com. r.t. live from moscow top stories now the south italian senate approves its cautious we'll start you know yet hoping to stomach growing consensus of the euro zone's third largest economy is falling to the ravages of the euro crisis. palestine is still pushing for a vote on its un statehood despite the fact it knows it will likely lose and it does fairly once the bids opponents to justify their decision what she believes will be dictated by the u.s. . and western corporations the center pump oil rich libya seeking to exploit the riches left following nato bombing mission. that's

a brief summary of our main stories this hour more for me innocent half an hour nanami time china's enormous cash reserves may be just what the e.u. needs to clear itself out of economic turmoil some crosstalk discuss beijing's possible role as the euro's savior that's next here on r.t. . wealthy british scientists it's time to explain the. markets why not. find out what's really happening to the global economy in the kinds of reports on our t.v. . to keep the story. in the such. a

low in welcome across time peter about china's maneuvering power china's fortunes faring during the global financial crisis and the euro zone fiasco political uncertainty in the u.s. and the arab spring is china and that gaynor is the world undergoes massive economic and geopolitical shifts and as the world changes will china take on a greater leadership role. in the story of the same. across the china's growing influence i'm joined by craig audrey in irvine he's an entrepreneur and co-author of death by china in miami we have only shankar he used to ford motor company chair in global business management at ohio state university and in beijing we cross to doris nesbitt she's the director of the nesbitt china in school all right folks you have difference a points of view on this and i want you to show my viewers ok but first marcia people say china is set to save the world well i don't know about that but there is

little doubt that over the last decade asia and china specifically has been steadily moving to the fore of the global economy and in the wake of the two thousand and eight credit crunch would shatter the western financial crisis and triggered europe's own sovereign debt crisis experts say china's role and power in global affairs is more culpable than ever only a comic might is reflected in the. over the capacity to contribute to the hero zones bailout fund the decision has not been finalized the european leaders and the i.m.f. have all welcomed the prospect of an investment which could range between fifty and one hundred billion dollars. i believe the resolution for european don't. most ability to finance trade and economy. if china doesn't check cash into the euro zone it would mark unprecedented ship and global power dynamics and make china a financial power on par with the u.s. but this wouldn't be the first time that the two countries jousted for a while now the u.s.

has laid claims that china is under valuing its currency they continue to try to game the system to their advantage and our disadvantage so i think it's appropriate and fitting and timely for us to be standing up and saying you know this is this is not acceptable ultimately however saving the eurozone and the u.s. is in china's own economic interests meanwhile economists are already warning of contagion threat if the crisis unravels and some have pointed to the country's slow growth as a sign of a spillover effect concerns that beijing has dismissed. if you intend on our own you lotion is that you know. it is safe to say that the national economy is generally on the right track and is benefiting from control policies on the domestic front china's been further tightening the screws on internet freedom whether it's a sign of its internal dollar ability in the world by popular uprisings is unclear but it's three and a media conference last week and it was

a whole slew of measures aimed at stopping what the chinese call the spread of harmful information but i respect that seems like it's going to go its way and let's talk about which way it's going to go aaron oden in miami if i go to you first year i mean what's most topical right now is whether the chinese will bail out the europeans bailout to your euro zone if they do what would they get out of it well first of all i think. you know the rise of china has been. you know unfolding fairly fairly quickly. in my book the chinese century you know about six seven years ago i you know i predict to china will become with largest economy in twenty twenty five and we are meta way through that through that process so this is not entirely unpredictable i mean you know we have both the united states and europe that are really admired in mountain of that there are only two countries out there that have the resources to help them out one is japan which is also somewhat reluctant global player with

a lot of the rest the key issues to solve ai and then of course china you know you have amount of trillions of reserves were. sinking deeper into the debt hole this was i think you know quite predictable ok great if i can go to you in irvine in the chinese have been very hesitant because they see that the europeans just can't get their house in order they've created such a mess of their economies with this debt crisis here why would the chinese want to get in there and and it will see the euro feel half year from now. you know first of all we've got to be clear when the chinese loan money to america or europe it's not because they like them it's merely to gain political advantage you know for future economic exploitation like every other country in that region is it is any different than other countries do i mean every country goes after self interest right and geopolitical interest as well. nowhere near is cutting them strategic as

china does and we've got to be clear that finding our moral hazard in keeping us behaving badly either in europe or the united states is not in china's long term best interest either it's only want to see the west continue to harm itself i do or if you want to jump in there go right ahead. yes i was just going to say who sets the measure i mean who decides what's good and behavior you know i think we're at a point where the west has to think of who decides what's good and bad are we really in the position given all the problems we have to just talk talk down to china and say what we've decided this quarter and what we think is good and what you would do is i think that the approach which much more would be what can we do to canada to solve the problems ok great you want to reply to that do you think that he decides to measure very good question yeah well you know the.

moral equivalency arguments really interesting until you come to face somebody who is truly evil we went through this whole same argument in the 1930's don't criticize the germans a lot of american companies whatever their set up business and said it's not our position here in europe we are you creating therefore you are equating china of today to nazi germany of the one nine hundred thirty s. . absolutely although i think you know china is somewhere worse as far as volume of scale and a level of censorship that's happening internally there but clearly the repression they put on the right honestly the rest of the world put together are you saying i object absolutely objective moral values. i mean go ahead. no no i vehemently object i mean. you know equate the two together you know that's germany is on a completely different level i mean you know a country that has been probably the worst atrocities that we have witnessed in me

in human civilization so with all respect i mean i would not put china out there which i ask i mean especially in history and i think if you saw any other totalitarian regime in history doris you want to reply i did not hear. you and you are scared half so no to me. you're not you open your poor mr asked me who was quoting. mark to can a man square that was in one thousand nine hundred eighty nine i don't know when you have been to china for the last time and i don't know what how many chinese weeks ago you have been talking you know we have we we you privately sector in our studios in mainland china and not and not caught well. you know we are in china right now and we have been talking last weekend with people often to where they really try and work on their own reintegration to get people into an economic growth the rural population. they run people are following with each

other via the internet it's not that there is no communication. internet certainly can be called the second party in china and it's certainly certain things are regulated that's without doubt but china is in the process of establishing its own way of running the country to take a greater to actually point i mean you need china china sea i mean like you know if i can interject here for a commuter jet here i mean in the west china is criticized because it is not in line with the washington consensus if i can use that term here me china's a rising power in the west is steadily getting steadily dick. lighning ok i mean so it really is the west has to adjust itself to a rising china and india with its own relative decline would you agree with that the same argument was made about the declining british empire at the beginning of the twentieth century and how the new way it was the soviet union and the fascist

states in europe. so countries that are willing to exploit their people to any level are always able to achieve economic turnarounds we saw them if only we saw that in germany at the beginning of the soviet it's not sustainable but that's how they do i mean i've seen the people standing behind the rear of an ox with a wooden plow while the party members in shanghai in the business people in shanghai in moscow party like there's no tomorrow i've seen little children who are going to die because of lack of a five thousand dollars surgery because their health care system is an absolute joke that you want to jump in there go hand in miami yeah yeah yeah yeah i mean i mean first first of all i mean again and i want to say to anyone in a very very clear clear fashion yeah these no question that you know china is is a bad regime as far as as morality is close. to put it at the same as a regime that is old and eyes messmate is of people you know because of their you know religion or otherwise you know

a clean nation where you call that although you are your own having said that having said that you called me on the ground. in jail or disappeared and you go ahead and finish up in miami go ahead yeah i don't think you can equate it because i'm very sorry i think you're entirely wrong but let me finish my point having said that these no question that china is going to extract a heavy price for any but the. bailout my own view is that they're going to do it in a more this way and there would be a lot of strings attached of course i do not buy the voices coming out of the e.u. united states it would not be any strings attached it would be a lot of strings attached but again he's in the the in china's interest there its main markets the euro and the u.s. remain able to buy you know

a chinese product i don't think it is. question about that ok greg i want to ask you a question i mean what china has benefited so much from the current economic order in the world right now i mean they're going to still continue to work as a partner is doris try to point out you want to demonize them into an enemy but it's in their own interest to keep the order going away it is. exactly the way that it's i'm interested drug dealer housing his customer being able to continue to buy products that are doing their economic are sustaining europe's bad behavior sustaining america's bad behavior as a debtor is not ok on this one we're going to go short break and we've got a lot more to talk about for after that short break we'll continue our discussion on china's state department. store.

in canada and the us that it is legal for you to give us a bubble bath on your baby they contain a known carcinogen something that causes cancer and most of the chances of another cut in the present day are sponsored by in this place and most of the time they don't know the plates it's a conflict of interest today an average cancer drug prescription costs nearly one thousand six hundred dollars a month oh my god i'm a nobody with cancer from my father and therefore i protect folks because ninety to ninety five percent of cancers hurts people with health family history of cancer the pharmaceutical industry spends about fourteen percent of their budget i'm research and development and about thirty one percent for marketing and administration. in fact there are more pharmaceutical industry lobbyists in washington d.c. and members of congress.

it's all. right to clean up goes down. squandered morning. one. more new sixty square kilometers of environmental devastation and those are still suprising. i'm finding we're just. it's getting bad out here. not saying hardly any birds squirrels yeah. you know i don't know what's going on here. cause we are keep. taking. the.

welcome back across all computable true mind you were discussing china's increasing power. play. he can't sleep. ok i know you want to jump in right here out and you want to react to what greg said right before the break so go right ahead. i think we have one common ground and that is that china has. pointed out millions hundreds of millions of people out of courage poverty to a relatively modest wealth i think you know the finishing of human rights includes in china that people have something to eat that people have a hope that people have a future and in cha ching china which is a very emotional part judgment as we can see when we are here when we listen to what we have to say and you have to consider the reaction china came from where it

started and if you look around china we're not only in cities like beijing or shanghai we are on the countryside and if you see that children of parents who can not read are now having the ability in their the offer to visit the school which we have to spent learning so that they are all to look for life has increased and improved dramatically you know you cannot always see look at china and say ok you cannot always draw the government clearly you cannot always follow the government but life does not only content in overthrowing governments life is that you can fulfill your dreams that you can create for trough that you can well create a family all of this is very much i mean you know in the needs of the chinese people you have more and more of it. yeah ok i get that but i don't want to hear the story that china has communist government has raised two hundred million people

out of poverty they didn't raise anybody out of poverty hard working intelligent chinese people raise their selves out of poverty where the who lifted just a little bit and cheering for the chinese government in this way is like sharing the last horse in the kentucky derby japan korea taiwan singapore thailand all these other asian nations. pulled themselves up way before a child and the only thing the chinese government did was hold its people back longer so that they could be the very last people to achieve that sort of lifestyle it's a tragedy it isn't going to think if i tell you happy because i'm going to miami here i mean i think most reason people would say the chinese have done a pretty good job with the economic policy at least they're not in my mind in dead like their competitors in the european union the united states i mean they've certainly done some some very positive things now you could say also with their foreign economic policy they're just only interest in self interest they don't have all the baggage that the west has about humanitarian interventions and all these

other things mean the chinese should go on their own way i mean there's something to be said about that right right i mean for the. future is going to miami greg greg. i hope you will be brought to the hague that has nothing to do with it i mean we talk about china china you know the future is always more complex the excuse me the teacher is always more complex than a one sided argument here here all in on both sides yes does the cheney's leadership have considerable achievement i don't think there's any question about it when you're talking about you know literacy and the like is there a heavy very heavy price being paid by individuals because of the policies of you know what is asian and economic growth no question about it i mean i can give you a very specific example myself about trade off you know childhood cancer in china

and things that are not being taken care of and so forth there is no question about that as well the reality is is always much more complex than it seems. you are you want to see a democracy in china eventually. of course yes. can it happen it was will it happen it once i am not so sure i want to remind everyone did it with the exception of taiwan there was really no precedent of. a democratic chinese society u.k. intimating that sometimes we want all the i heard it eventually it was ok great i mean it was me why should we assume if i go back to grade here in irvine and why should we see me as china were to go down the world the path of democratization is we all would understand it why would it have to be a western liberal model can't they have

a model that is more representative of their society and values go ahead. i didn't say that i just say we need a model that doesn't involve killing a lot of people locking them up in jails because of their religious beliefs and then intentionally exploiting the weaknesses of the western governments in order to bring them down faster my concern which are his internal behavior in this conversation is mostly to say to you i get there if they treat their own people this way why would you expect them to treat you fairly and economic or business contractual relationship and they develop their systemic cheaters and liars ok i do receive a very steep. critique of china there how do you react to that i know we lost you for a second so. we respond to what you did here ok well you know i think that one can prove anything and everything if you look at a certain point if you choose certain points looking at the u.s. the picture can be very grim why it can be very bright so there can be things said about china which are not bright and there are things that are very good but

consider one thing china is only thirty years. into reform and opening up where was the u.s. thirty years after the constitution was written where was the u.s. only more than a working years ago when the blacks were still oh come on you know jim if john was here he could tell you first have firsthand how the riots where you can still cracks how he was taking share in seeking because the blacks couldn't sit go to a restaurant so you know the point is we are not i am not here to defend the government and i want to say what we observe and what we observe is that china is on the path and it has done a very good job it has its flaws there are lots of things red has to improve including the environment corruption the freedom of speech concerning the

government of course nobody would deny that but. you cannot only look at one side and you connect everything that's possible if you do that with us or with your you're going to go there as well greg you want to reply that because i'd like to talk this was what i'd also like to talk about chuck in china taking more responsibility on the global stage because it is the second largest economy in the world and will surpass the united states soon but it's still not flexing its diplomatic and political responsibilities i would say commensurate with the size do you think about that. well let me just first of all say the key to being able to improve yourself over time is freedom of speech criticism and so yes the u.s. is committed some terrible sounds at home and around the world but the thing that's important is that we had made it we publicly flogged ourselves for it and we try to improve the chinese government's incapable of doing that and everybody their position around the world they are very cautious and i think the key thing everybody needs to understand is that in china. politics lead economics as opposed

to in europe in united states where the goal of politics is trying to achieve a better economic state for the people in china the goal of economics is to keep the chinese communist party in power and that's why they allow improvement not because they care about those kids out in you know province it's only because they want the boys in beijing to stay in power ok what do you think actually it's really very socialist it's not really really sunshine is self interest it's the self interest of the communist party this is what we just heard. none of us i'm sure all over the. system good to leave to a different question here first of all eat so happens that in the eighty's the interest of the communist regime to provide economic prosperity i don't think there is any question about it. it happens to be good for the country i mean to a great extent so the fact that these two objectives are consistent you know is something that we should do we should keep in mind of course the regime would like

to stay in power of course if their regime for weak economic prosperity is even more important than for any other regime and there are the less it is something that is creates a lot of good for the chinese people as well so that we need to keep in mind that going back to your earlier question yes china is a reluctant player on a global scene and mongo other reasons because it is a relatively new player on a global scene and there are all bit between play a remains to be seen what we've heard so far with china easy against the so-called us eggo money what we have all deserve so far is that china is unfortunately willing to engage with a lot of bad regime there each should not engage but all in all it's still a fairly reluctant player and may i say that one reason why china is hesitant about providing more so. for the european union is really potential backlash at home when

he will are increasingly concerned that you know chinese resources will go down. sinking a hole and the money will never be seen again ok there are saying to you there is another historical precedent out there was an emerging power that the international community international architecture didn't accept very well and that was germany at the end of the nineteenth and beginning to twenty centuries you see that we've learned any lessons there because china is coming up very very fast and particularly as the economic global crisis is affecting the west the most i mean this is a time for china it's an opportunity for china but also there are still can remain hesitant and really stepping up on the stage a lot more in the world really needs more leadership. well but the weren't allowed trying not to take pocket as as part of the global community i mean just listen to whatever bit has been said during this show it has been

offended. and and at the same time people say well why don't they can have a bigger share well china will take its share and it has it's growing and has its also maturing in its system its share on the global communique world will grow but it's it's sort of flying against very heavy headwinds because everybody tells you how careful you are and on the other hand conscious of it overall response ability with you wish we don't want to give you because you're not trustworthy solvent and not you cannot on one hand say you're not worth having responsibility and you're saying you very much elaine with all the running time we've run out of time here we'll find out later if china save the world many thanks to my guest today in miami earth wind and in beijing thanks sure it was for watching us here are to see you next time members cost.