these stunts on t.v. don't come. the doctors are in hawaii that is trying to find a way to resuscitate the global economy so will they be able to find a cure and as the age of america reportedly comes to a close will there be a new global pecking order. is on almost every dimension gee this is no longer a time for us to sit back and say we're going to let them steal our jobs politicians are huffing and puffing negative rhetoric against china so as american leaders take some cheap shots have been so called red threat we look at who else is there is afraid of his big bad china. they've lost their minds they've lost limbs and they've lost their time and they put the risks and they deserve it but somehow

it's just you know generation after generation america keeps screwing it's about fighting to survive as the u.s. honors veterans day america's heroes are returning from the front lines to a not so happy homecoming crippling unemployment homelessness and high suicide rate so what ever happened to no man left behind. plus from the center of the fashion world to the center of the euro crisis italy dove headfirst into economic hardships so with berlusconi gone will the country be able to set its own straight or is it just the next domino to topple in the global crisis. that afternoon today is friday nov eleventh happy eleven eleven eleven it's four pm in our studios here in washington d.c. i'm christine friends out there watching our team. i want to talk today about the

economy and what seems to be a changing tide here on the economy on a global scale or that old piece of advice go west young man well it seems that if you want to go where the growth is happening you should instead say go east young man because countries like china and india are growing rapidly as the rest of the world and especially the u.s. seems to be in a slowing or a holding pattern this is all being discussed at the this weekend at the asia pacific economic cooperation forum or a pac in honolulu hawaii where leaders from twenty one countries will discuss things like free trade and green technology and the crisis in the euro zone but it appears another crisis is brewing and seems the us is global dominance could be coming to an end a lot sooner than expected i want to show you something posted on the i.m.f. website earlier this year something that sort of fell under the radar of most seems to be kind of a big deal this graph posted on the i.m.f.

web site forecasts that when it comes to purchasing power parity china will essentially catch up to the u.s. in five years by two thousand and sixteen i want to talk about this and about decisions being made here in washington that may have contributed to this shift dr caroline hellman is a professor of politics at occidental college she's in our los angeles studio caroline not be eleven eleven eleven i want to know what you think i mean is it possible that whoever wins the election in two thousand and twelve could be the last u.s. president preside over the world's largest economy. well i think that this is similar to earlier red scares we've had in the country's history yet another i think about superpower dominance in terms of economics military and favor ability and according to a few study americans are still the highest when and when it comes to figure ability of superpowers our military spending is many times over any other countries

including china and it when it comes to economics sheer size and is not going to be enough to supplant us dominance in this area so for example china's g.d.p. their gross domestic product is expected to match the u.s. in the eurozone which would be about fifteen trillion dollars a year it's currently about seven trillion that that's anticipated to happen around two thousand and twenty but even then it doesn't mean that the yuan will be a player along with the euro and the u.s. dollar because china's markets are not open enough for that to be a stable place to elevate that currency so again i think it's overstated this this notion of the decline in the west and the rise of china but at the same time i think it's good for the u.s. to have competitors it's never good for a global superpower to be the only one at the top are perceived because then they act with impunity and i believe at various points in u.s. history we have seen the evidence of that i think having china in the mix will be very positive for social political relations but carolyn you say that these numbers

these ideas are overstated but you know and we talk about years like twenty sixteen twenty twenty five ten years off but looking at the rate how rapidly countries like china and india are growing isn't it feasible to think that if they continue to double and triple and quadruple in size and strength of things could be reached a lot sooner than expected. well i think that that's actually very quick and when it comes to a time clock we're talking five years out ten years out but even when sheer size is achieved i guess my argument is that it is not enough to supplant existing superpowers it might be enough to eventually be competitive but right now the yuan they that china would have to have much more open markets they would have to have a primary major shift in their political system in order for their economic system in order for that you want to be valued in the same way as the euro and the u.s. dollar but with that said certainly in terms of purchasing power as you've noted

we're going to achieve that well before china matches the size in terms of actual economic sector in terms of g.d.p. that's going to happen first but there are some restrictions on this right there population restrictions unfettered growth can't last forever so even sheer size will be checked at some point but if china really wants to supplant the u.s. or the euro zone china will actually have to have to shift its political position quite a bit and open up not only its government its bond markets but but open up as a country opened up its markets much more widely you know in the u.s. we've been the senate trying to pass something chastising china for fixing its currency that would be run example of why the yuan will not be the stable currency that it needs to be in order to truly be a global economic competitor with congo about what is going on here in washington and elsewhere in the u.s. i mean do you think there are some crucial decisions that have yet to be made that could really tip the scale one where the other. well in terms of economic policy i

think quantitative easing we've seen quantitative wanting to which have flooded more u.s. money into the market which has benefited china but i'd like to also challenge this notion that china owns the united states they own about eight percent of our debt japan is about six percent of our debt so again overblown so do position do political decisions now how this you know this affects of leading to to economic decline and the demise of the west again i think this is these are are more romantic narratives about the west in the minds of americans and this concern that we won't be on top and i'll complicate that a little further that our expansion and our imperialism started with the founding with the notion that anglo-saxon rights male protestants in particular were the less and kind and this led to us you know the genocide of the native americans as we expanded westward it led to atrocities in hawaii and the philippines and beyond

so i think it is good that america will have competitors because unchecked imperialism leads to all sorts of of colonial issues and even genocide i think that's an important point and when you talk about competitors sometimes it's a little difficult for people to see these new competitors coming on and we want to look a little deeper into the you know what sort of a tug of war that's already happening between the u.s. and china has shifted attitudes about china both in perception and action and i think you mentioned this but you don't really have to look much further than the pentagon budget to see that but we wanted to see how the attitudes were manifesting there among regular people so we sent our correspondent who set out to the streets to talk to people to get a sense of their attitudes about china so we want to play this and caroline if you don't mind sticking around we'll talk to you right after.

this. she went back. to the future after yikes ok let's just get right down to it shall we should we be afraid of china. well what other place in washington d.c. is chinatown to find out i don't think we have to be a fraid of china but i do think that we should be concerned well concerned might be the right word for it and angelina isn't the only one a much twenty eleven b.b.c. poll shows that many in the west aren't exactly thrilled about china gaining more economic steam in the span of just five years negative attitudes towards china have skyrocketed with france germany italy the u.k. and the u.s. on happy at the thought of china nipping at their heels and for the us nowhere is

that clear but in the race to the white house china is on almost every dimension gee this is no longer a time for us to sit back and say we're going to let them steal our jobs or what we need to do is start in rich saying china with our money i want to beat china i want to go to war with china and make america the most attractive place in the world to do business woah woah whoa does it have to be us or them and is anybody buying it's the world changing you know so like the fact the fact that like china's economy is modernizing. isn't the reason why our economy is doing poorly right now . and so it's maybe just a straw man when. presidential candidates bring it up but they did it in a in a business sense of economics it was countries to just work with china as any other country so yeah i don't know where it comes from from the u.s. about china well there you have it it seems china is the new kid on the economic

block and it's up to the u.s. ever go west to see how they deal with reporting from washington and i can decide oh i see our as a parallel let me get your take just in terms of attitudes do you think people have a reason to be concerned. well you know i think that it is positive when we have another global competitor as they talked about before about you know the united states basically having to play nice with others because more people are in the game i think that's positive but on an individual level no actually americans are getting benefiting tremendously from the cheap labor sometimes child labor and lower labor standards in china i mean wal-mart is basically walking into a retail chain for china so the notion that somehow this would be bad at the individual level seems a little absurd i mean you say caroline that americans are benefiting and i'm pretty sure you mean americans are benefiting because they can get goods for so cheap because of how cheap they cost to produce these goods walmart

a great example i think but look around the country look at these abandoned factories and warehouses and you know manufacturing that used to exist here that doesn't anymore i mean that is you know people who produce these goods they simply say it's just much cheaper and much easier to produce in china how can we as a country reconcile that. well i think there's a conflation of two things happening one is certainly the outsourcing which is happening all over the globe not just in china any place where there are more relaxed labor standards more relaxed environmental standards which is an issue that we as a country need to deal with because we do we are benefiting on the pain of the less developed countries china included in that equation beyond that we've also seen a shift from a manufacturing sector to a service sector economy so a lot of that loss came prior to cheer on china getting in the ring so i think some of that plane is misplaced but i think china becomes this very convenient target we

need an enemy right the cold war is over terrorism doesn't provide a concrete enemy for the united states to confront so when we hear these republican competitors talking about china as an enemy i do think that that it fills that notion of having something to oppose in order to buoy the resilience of nationalism and again i find i take issue with that nationalism and i don't think that china's growth unfettered growth centrally at this point is all positive i'm concerned about the environment all i have it that is being read by the manufacturing standards i'm concerned about the quality of life of those living in producing those goods that people are buying so cheaply and wal-mart and i do believe that we as a country could do united states could make a major shift and how we treat other countries and outsourcing but that would require that the u.s. government step in and tell american corporations that they're going to have to put people over profits and i think that's

a really hard thing for anyone at this point to say given how much we've elevated the corporation in the minds of americans i think that ties back to what you were saying in terms of the transfer over from a manufacturing economy to a service economy we talk about these big corporations it's not just that shift from manufacturing to service economy i think to and i think that is what you're getting at is that people have been putting profits over people corporations have been rather and it's about doing the. most for the cheapest which i mean as a business person i would say those people probably would think that's best but it really really has shifted what's going on here in america in terms of the middle class in terms of the inequality gap just getting wider and wider i mean how do you do you do you think this will change in terms of policy or future laws for these big corporations to say you know what we're only going to make a few billion dollars instead of twenty billion dollars you know every month how do you do that how do you say that to these big corporations you know and that's the

million dollar question you've hit the nail on the head there in terms of we actually i don't think it will shift that's the short answer because we actually have made it illegal for publically traded corporations to put anything above profit and we gave them a person hood and then we said that money is free speech and so now they have unfettered access to the political arena i think that what would have to happen is we would have to take back corporate personhood and we would have to make corporations what they were prior to the mid eighty's hundreds where they could only exist if they serve the public interest now that would be a radical shift in our in our political economic system in the united states and one that right now benefits you know politicians get elected because of their corporate ties so i don't actually see the shifting anytime soon it is certainly a reality here in washington caroline hellman professor of politics at occidental college in our los angeles studio thanks well among those feeling the strain of jobs being sent overseas our veterans men and women who have served this country

and upon getting out find that instead of being met with open arms or face with unemployment a whole new set of battles all today is veterans day and as we remember those who gave their lives in service to this country we want to remember those who made it home and who still need support our g. correspondent ana stasia churkin takes a deeper look. well. their job is to defend their country's interests but once that job they have stopped their country has no interest in them any longer tens of thousands of american war veterans are simply being discarded coming home to a just proportionate rate of homelessness and for soldiers and infections and she doesn't stand a whopping seventy five thousand iraqi afghanistan veterans united states homeless receiving on the streets war veterans like fifty five year old gentleman joe after sixteen years of military duty he's homeless on the streets of new york with health problems he can't afford to take care of and no job to sustain your life this is

not easy. you know it's it's a great you know it's. i don't know should be more like i have no resources you know i can't work on a point of i was her i was working cash. and. another unemployment runs out anyhow jew says all the u.s. military machine cares about is money well the people who risk their life and limb are disposed of once they've served their purposes of politicians it's just reported destruction been for about numbers. restraint in numbers as all they keep numbers are recruited gets his money he gets his peers promotions his bonus and the care for themselves. if you're about to right know. the u.s. is winding down its operations in iraq and afghanistan but the damage to the people who fought in those wars we need to stop we have a v.a. system that is unable to provide us with the services that we need the services

that we're entitled to as a result of you know us signing a contract and putting our lives on the line across the country unemployment rates among war veterans are staggering coming home to an unemployment rate of about thirty percent for iraq and afghanistan veterans this is you know triple the national average joining the military used to be considered a great career step that led to a life of honor these days this couldn't be further from the truth joining the u.s. military is probably one of the stupidest retirement or career moves you can make as a human being i do tauriel columnist ted rall says military service is one of the biggest courses in american history and they are defending the borders they're expanding the empire the o. them they've lost their minds and they've lost limbs and they've lost their time and they took the risks and they deserve it but somehow it's just you know generation after generation america keeps screwing its vets there are said to be eighteen suicide attempts a day among veterans in america hundreds each month handling the realities of being

forgotten at home it's tough when you come home to your foreclosure on the job corps and. then you want to go to shelters and shelters pretty much housing criminals drug addicts and a lot of us can't tolerate that lifestyle the hardest truth is that many believe forgotten vets back at home is a permanent state on america's image this reality is set to continue indefinitely with no end in sight so despite the iraq war i'm supposedly ending of course that's yet to be seen the reality for soldiers of these constant deployments to wars we don't want to fight that is not point which after almost nine years of war in iraq the. u.s. government plans to bring american soldiers back home by the winter holidays but with joblessness homelessness and official neglect an undeniable reality for america's veterans after the cruelty of war thousands more may be faced with the cruelty of life after it and archie. i want to expand on this

a little bit you know when we talk about veterans and their injuries to their bodies and also things too difficult to overcome inside their brains many of these veterans as you just saw returning home from one or two or five tours has changed men and women and they often have a tough time connecting with their families and their friends and really anyone who hasn't been through what they have many have trouble finding jobs as you saw and a lot of them they do find jobs and then they have trouble holding down those jobs i want to talk with me more about this is not you how senior fellow with the center for international policy matters today is veterans day as we've already mentioned in that report we saw a veteran michael prysner and he was talking about this thirty percent unemployment rate i think this is for veterans aged eighteen to twenty four the youngest reference that's a ridiculous rate it's across the board is still higher than the nationwide average twelve percent people say well veterans they get when they get out they should be

able to get injury and compete with everybody why is that not the case. i think you have probably you know i don't this is a very thing to talk about it's something i think we should talk about much more not just on veterans day but it's i wish it was that simple you know you come home from war and you come home a changed man or changed woman so it's not a simple was really goes back take them out of uniform put it into college and also not to be a normal citizen like everyone else we're looking at right now regrets coming home from iraq and afghanistan that's about a fifteen to thirty five percent rate of what's radix stress disorder we don't know what the rates of traumatic brain injury are right now but we believe they're high so it's not as simple as seventy guys to college and a little be just like the guy you know your neighbors next door it just doesn't work that way and certainly even a small things you know having trouble sleeping or showing up to work on time i mean these are things that a lot of people don't take into account you talk about post-traumatic stress disorder i think that it's really important to say these numbers and they're kind

of staggering actually according to the partner veterans affairs every single eighty minutes a veteran in this country commit suicide that's about eighteen veterans a day that make it home and take their own lives when they get here to talk about this and why it's really important for those who are not associated with military to understand that this happened it's so troubling because we don't even know if that number is right. so many of our beds from iraq and afghanistan are not even registered with the b.s.a. and i recall the sixteen states require that you say cause of death suicide in terms of reference yeah exactly so that's an estimate that's what we think is happening eighteen a day we don't know the scary thing about it is that the war still going on the wars current if you look at the research done on world war two korea vietnam vets you see onset for post-traumatic stress for those veterans oftentimes occurred up to eight ten twelve years after they returned home so the onset of. says that the

same thing who we believe was forgotten brain injury which basically the amount of hits our guys are taking that they're protected in armored vehicles thank god they're coming home from stuff that their predecessors who fought in previous wars would not have survived but what happens is they take a tremendous shot to the head in those attacks which can be very late in terms of the onset of the injury so traumatic brain injury may be something that we see five ten fifteen years from now that we're not recording right now so it's very scary the scope of this and what made it home and it was so interesting opportunity a go which arguably has you know some of the best weather in the country so a lot of veterans are there freshly homeless veterans vietnam veterans are every rather thousands of them but it's not just the two wars going on right now it's previous wars as well let's talk a little bit about the future policy i mean here we are in washington and we think about congress about every lawmaker always wants to talk about how much this hurts

are supported but the reality is very few of these lawmakers actually are related to anyone who's ever served actually understand it talk about this and how that affects policies that are made you know there's a story usa today said that twenty two percent of members of congress have served in the military which is the lowest level since world war two and i think the that level is and it's when you go down with iraqi math and wars less than one percent of america has served in those wars and so what you see in congress is a reflection of what the reality is in america i travel i visit universities and lecture and just up in holy cross the other night up in massachusetts and in a room full of students only the kids who were or a p.c. knew anybody who had served in iraq rec if it's if you're talking about their peers their peers are fighting in iraq or afghanistan while most of america is not participating if they're not affected i can see that reflected in congress so i

think a lot of us would like to see more. that's been involved for a couple reasons if you go up to the senate armed services committee hearing or house armed services committee hearing. what you see are just heads bobbing in agreement with the generals so if you have more vets in there i believe you have more guys willing to you know reduce the b.s. for generals when they go in there and tell them how well the war is going out how well things are occurring either in iraq or afghanistan it's been an ongoing problem for years just continual good news coming out of iraq and afghanistan when the reality is the alternative or the opposite in the other side of this is that who's going to protect these benefits i have a former marine of mine watched as both his legs in iraq and we were there in a very good for taking care of him he gets excellent care right now going to be free to score so that he can drive with his hands in ten fifteen years from now is that program still going to be there or that you have made him a budget cuts just real quick now i know that yesterday i believe

a small portion of president obama's top spot was caught this was the part of the goal that gives reference benefits will this change anything you know who knows who knows how much that actually works in terms of extending tax credits. to put i think what will work is for the american public to realize that what we get frustrated get frustrated because in the run up to iraq war we're eighty some not percent of america was for the war how many americans opposed the escalation of the war in afghanistan very few so if you things have changed a little about now sorry we're out of time matthew how senior fellow with the center for international policy and i want to thank you so much for sharing your insight all right guys we're just about out of time but i want you to keep it right here up next is the capital account of more or less. war and i know we spoke a little earlier on this newscast about a pack and some of the things on the agenda there i imagine you'll be talking about this as well we are going to talking about this a little bit as well but we're more carries about christine is when all of this talk about lock aeration and increased trade relations how is obama going to sell

this to an american pie. blick that associates free trade globalization it with the loss of jobs especially to a time when joblessness is such a huge problem here at home also there's been so much talk of the potential of trade wars the potential of protectionism and those kind of responses with the recessions going on in europe with the economic problems even in the u.s. so could that actually be what we see instead of more cooperation all right lauren thanks so much for filling us in a jam packed so. all right guys i got to go but we're out of time but if you missed anything how do our web site argue dot com slash usa i'm sorry we didn't get to the story about italy's economic crisis but be sure to stick around for our five pm newscast and of course you can see all of our interviews and stories or you tube page you got columns last r.t. america you should also follow me on twitter at christine for again capital account with enormous lists or is coming up next for now and christine for sound.

or is that so much. as you can give it really. is jonathan it is the way to those massive economic and geopolitical shifts as the week changes to try to take on a greater. download the official ugly cation giovani phone or

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