right to the county however i totally disagree i don't even think the party began. we are still waiting for that actually reduces to up to. twelve thirty pm in moscow these iraqi headlines gathering the strike tens of thousands in spain uniting in protest against labor of forms a day before the new prime minister announces a fresh round of austerity measures it's seen as the first real test for spain's leader who took office only three months ago. league split over how to deal with the syrian crisis some members i became supposed to see others want to arm the rebels and weigh in with the courts meanwhile syrian government and opposition

under pressure to win force a un peace plan calling for a cease fire. plus the five member bloc of brics countries take on the dollar and euro individual for the global economy there masterminding the plan of a new alternative lobel reserve bank that would rival the i.m.f. and other u.s. cities have been blocked. and coming out so she sophie shevardnadze speaks with the chairman of the world's biggest commodities trading company for his take on where china the euro and the dollar are all headed stay with us. someone more a chairman of the multinational corporation rank or also the former french foreign missionary it's great to have you with us here in moscow sir thank you so you spent most of your business career and china are you one of those who see the china as

the center of the world's economic future no i don't think i do but i think at the moment china on a comparison basis is certainly doing better than everyone else so but whether that's going to lead the world forever or have i don't think so i don't think that we honestly go ahead or buy chinese sentry i'm not so why does the china folding our china it's coming it's going to swallow us all because on a comparison basis compared to china for example when i first went there were nine hundred seventy when they had absolutely nothing of course it's very different china is a manufacturing country today and benefiting from manufacturing and if you look back in history in one thousand nine hundred ninety eight hundred ten of the probably the brits english were the most prosperous nation in the world certainly per capita all on the back of manufacturing so the industrial revolution on the

back of coal ninety eight hundred in england was two percent of the world's population producing forty percent of the world's trade think about that america also group hugely on the back of manufacturing so manufacturing is what really needs to prosperity in the western world has swung away from manufacturing into service industries and that is as also have a huge dollar of inflation. over the years i'm talking about europe and america chinese china is going through its industrial revolution equivalent doing fantastically well but also feeling the beginnings of inflation a growing cost base some base and over the next twenty years we may well see the chinese manufacturing moves offshore to places like cambodia vietnam and maybe.

that's a cycle is it that simple is that she's a former cheap labor hard work isn't it's all about cheap labor are you something more the hard work that you put in that people did they talk about asian values of hard work those were exactly the same pair of victorian values the same in the u.k. everybody used to work much harder in a way than they do today people have sixteen years old won't work i'm less fifteen years old working in the coal mines today everything is much softer and it's human rights and entitlement on the benefits and so on china doesn't have those which makes me wonder is it a good thing or not actually i don't actually think it's a good thing and i think it is not a tree that is amazingly successful so china is growing at eight percent per annum whatever the figure is seven percent brown and the rest of the world isn't going to really doing anything at all i can parse them so yes they have huge monetary success on the surface but underneath they have lots and lots of problems can you

believe in the theory of china's getting older faster and getting richer. i don't know that i have good that phrase that they're getting older rather than the richer their problem is also that when you talk about rich you have also the big divide perhaps and they have not china reported to have free have been fifty thousand million has reported to have a hundred fifteen billion has a threat of the precise. but they have seven hundred million people who live in the rural areas central parts of china who live on four dollars a day so they're not all getting richer. they are much better off than they were forty years ago there is no question about that that the wealth has spread over everybody is ok in the sense that they are better off than they were but still big difference is still a long way to go twenty million people part of a plea

a year move from the rural areas of china into the urban areas and looking for jobs every year let me china's got to find two hundred many of your that over the next ten years that's pretty thin tosk china's cost base is rising the china is now starting things like minimum wage you have discontent you join or many villages there are riots and people on strike but we don't see it out if those towns all grown up in the same day and rebelled china would have big problems so for china the most important thing for the party is stability keeping this place stable and it's very tough and they can do it because the communist party is very very tough eastlink europe is actually a challenge should he ripping be working harder. yeah i think yes i

would like to see less of this sort of benefits and. we live in the european or the west with. an age of entitlement people come out of university with my job i mean title to draw my title of this i'm entitled to benefits i've just arrived in england where all my benefits i think we have gone a little bit soft yes but is there of way of turning this whole thing back. probably not i think but the politics of the new england are trying to bring in or support they call austerity measures you see what's happening in greece whether whether people will take this accept this or whether they will rebel but you have seen in greece a rebel you have seen in england in november we have students watching in the streets smashing windows robbing shops and so on so will we have rebellions and then i think we probably will. there's going to be resistance to this is still here

as it will be here as and survive as one hour and i think there's a good chance that some of the southern countries greece maybe italy maybe maybe spain portugal may withdraw from the euro. the euro benefits the german nation more than anybody else because if we didn't have the euro we would have the deutsche mark and we would have the lira italian lira the drug would be here the lira would be here so it would be one to say dispense for three four hour is what effect you take probably the free for it so if the euro goes germany will have unemployment at twenty percent so they need to keep the euro going you have to remember that the european community as a collective is solvent. it is solvent but the money is all in germany and not in

the other places so whether they can keep it as a whole is going to be tough and it's particularly tough for the germans because the germans understand that they need the euro otherwise they're going to have unemployment but the man in the street in germany sees his taxpayers' money going to these guys in greece who we think are very spoiled they don't think that they'll get up in the morning or whatever they do rightly they were pretty hot in greece but they didn't pay their taxes so he resents that and that is politically very tough for the german politicians to sell that they have got it at the moment greece has been bailout to the tune of three billion dollars it three hundred billion dollars it's interesting those numbers you have to remember the biggest default ever in history first was russia which was seventy nine billion dollars after that was. shortly after that eighty two billion dollars you put that eighty two

billion dollars as a country the biggest the we have ever seen today the greek debt is why times bigger than that at five hundred billion why next door in italy stands five times bigger than greece two point five trillion dollars ok you put that sort of thing in a context of the eighty two billion and you realize what we've got in europe we have never seen anything like it is huge so whether europe is how europe is going to pain practice debt the only way they can do it is to grow and they are growing one percent not even so it's going to take them on the wrong wrong time in the meantime do they go into deflation. well they go into inflation the americans are terrified of deflation because they remember nine hundred twenty s. soup kitchens people lining up in the street to get their soup at lunchtime grapes

overall and so on steinbeck books and so on the germans are terrified of inflation because the one american public i just twenty nine fifty million dollar trucks for a loaf of bread so when you understand what inflation really is this is inflation ok this is a one hundred little elian that's a trillion dollar ok one hundred trillion dollars that is inflation that is a zimbabwean dollar and that buys you probably in the bob way i don't know it was your coca-cola or something that is inflation so the germ of the third part of that when i was a boy we all have million notes which were worth nothing so you got completely different attitudes from europe and america in the western world on how this should all be approached ok but the question is along side when zero americans are also

have the rained out how do they do to maintain their high living standards i don't know that they do maintain their high living standards but they want to of course they do everybody wants to america and. that to the tune american government isn't that that the fifteen trillion dollars that the american government that's not the whole of america whole of america debt is probably forty trillion dollars but they have huge problems and housing prices probably pricing people being ejected out of their houses they even have in america they have tent villages where people living in tents you haven't seen that but they haven't america and it's be getting to come back a bit but they have unemployment of say eight point four percent. down from nine point four percent down to eight point three percent so they are very pleased that unemployment has gone about down but if you look at those numbers

a little bit more carefully you will see that between the ages of about twenty two and thirty five or thirty seven that figure eight point three between those ages young people twenty two and thirty seven it's near a twenty percent unemployment. huge problems about will reduce. ability to spend because consumer spending moving again so i don't think they are continuing to live and spend as they used to and from two thousand and eight when we have a plan on the back of a massive massive credit boom people fear that we would have a double dip and here we are right on the edge of it.

the litmus tests . just seem to. see.

the most. serious technology innovations it's all the least of melanin simple around russia we've dumped a few jerks coverage. gathering to strike tens of thousands in spain unite in protest against labor of forms just a day before the new prime minister announces a precious round of austerity cuts and this is the first real test for spain's leader who took office three months ago. the arab league split over how to deal with the syrian crisis as some members advocate diplomacy and others want to arm the rebels and weigh in with force meanwhile the syrian government and opposition are under pressure to win for say you when he's calling for a cease fire. and the five member bloc of brics countries take on the you dollar and euro individual for the global economy and the creation of an alternative

global reserve bank that would rival the international monetary fund and other u.s. depended bodies. piled up next with our latest from the world of sports stay with us. hello welcome along to the world of sport is what's coming up pouncing back till the deficits in that you are league basketball courts a final says call a victory in game three in spain. i schooled anomaly moscow coming from three goals down by school in overtime in game one of the western conference finals. pedal to the floor as he chants exclusively to russia's i usually drive it's holly petrol he starts in the formula one campaign and his hopes for the future. but first ask our moscow have lost for only the second time in the season zero lake

they went down ninety four eighty one against bilbao as the spaniards have the deficit in their best of five playoff series the army men now lead the quarter final two one heading into game four on friday well road on the fire capacity ten thousand fans the bust side here defeat would mean elimination from the competition but sayers car will have to wait to get their place in the last home side because harris forty seven food from the half time by the outstanding market planning to score eighteen points cost us about the latest was top score for the home side with twenty four jackson thirteen although not interested for twenty two points for the traveling russians it wasn't enough as bill bell held on for a ninety four eighty one victory to play for then now and then four on friday. meanwhile in the n.b.a. toronto have ended their two game losing streak with a one hundred five ninety six when denver in canada neither side were in their

respects apart from playoff places going into the game and it's a pretty close affair into the final quarter eighty five to the end of the third period into play for all but the home side came out on top out by andrea bargnani with top score for two long time with twenty six points one hundred five ninety six the final story. now out of the champions league quarter finals and german club munich have one foot in the last four while the tie between ac milan and barcelona is perfectly poised after the first leg was a loner failed to find an away goal of the san siro as they were held millvale by the italians it was the first time in nine matches in the competition of the defending champions of failed to school meaning there's plenty to play for in the second leg of the new conflicts g.'s day. i'm very happy the boys played very well they were pressing high and defending very well the result gives us the awareness that. we're going to we're going to barcelona for

a difficult match we can go through with a win or scoring drole imagine you know when one side gets one goal will not be enough we had to take better especially the boks well played a better pitch and they spend it with a little advantage for us playing well is the way to win and go through. well elsewhere but i have a healthy advantage after that you know when i over marcell frogs mario gomez and i and robin were on target for the visit is the winners of this tie look set to play real madrid in the last. at least i have not much chance to reach the semifinals but i have respect for our opponents i've been through a lot in football and i know it's a quarter final first leg a splayed but the second leg is still to come and anything can happen. now moving on to ice hockey where in the k h l playoffs to moscow one game one in their best of seven series against scar in st petersburg there is not a lie of the hero with a hat trick in the five four overtime victory after

a double from victor to head off to go full blooded need to say it was three nil to the hosts by the beginning of the third period when murray hill called one back thanks to a goal is a mistake then leo called it off that made the most of a power play five minutes into the period three two now and came on soon after that to the center made it full to use during scar's two goal advantage as he was the first to the rebound most loyal fan got on the scoresheet as he reduced the difference to just one goal midway through the period and with less than two minutes to go scored his second to make it four four taken the game into overtime these dramatic stuff. in the ten minutes of the first edition period was a lie often played to his hat trick giving his side an all important times i'm wiping away victory going to win the western flyers it's also in some cases on friday. in the wings are

a regular season when the trucks all play off and they are in the eastern conference finals game one takes place in chile having slater on a. barren tennis the women's world number one victoria azarenka has lost for the first time in two thousand and twelve she spells. reached the semifinals in miami after a six three six three defeats of france's marion bartoli the belorussian was on a twenty six match winning streak since the turn of the year a run which included her australian open victory in melbourne in january it was the best star made by any player on the women's tour since martina hingis back to seven the boxer is too strong in straight sets sixty six. world bartoli will face polls that nest have advanced in the last four that's after the fifth seed will be returning to venus williams in straight sets six four six runs this week so we turn to thank you ted it's the first time since the us open last september. meanwhile in the many through andy murray has booked his place in

the last four after a four six six three six four winner began creatives out of which the serbian came from a break down to take the outlook for murray did likewise in the second. set breaking now thanks world number three rafael but there are said. this after the spaniard came through a three secs was a final with france's joel wilfred tsonga a ten time it was through the way by the frenchman despite looking in control after two breaks in the earnings five games could lead for two in the second before a brave soul in the fight that was ended in the final set six two five seven six four. i now n.f.l. commissioner roger goodell admits he understands new orleans france frustrations following the league's recent punishments punishment of the saints coach sean payton has been suspended for the whole of next season after the merge they were

paying bonuses to players to injure others peyton has until monday to appeal the decision and good will admit it's a difficult time for supporters. to stay in the first version of events. and i have great respect for them and were be there with their super bowl at the conclusion of this coming season. and i worked very closely obviously as we were getting the saints reestablished after the hurricanes so i saw it first hand of the saints passion and their faith and special and i think i clearly understand that frustration but i also want to understand the thirty two teams and everybody is going to have to operate by the same rules and if we don't do that the integrity of the game and what fans love about the game will be impacted negatively now finally to formula one where it's been a mixed start to the season for russian batali petroff off the failings of painting

in australia he came sixteenth in malaysia last weekend the catering driver is in his first season with his new team after losing his place at red eye these optimistic about the future as he explained in an exclusive chat with our correspondent which had been perfect. i think it was not the worst of the fortunately the first place with leafing usable anyway i think we sure were good results. in malaysia finally finished actually it was a good race in the simulators it started from within the nose gear so it was actually really exciting was quite tricky one because it will save a lot of whining and you can see look a lot of money go. yeah actually i did not some i think on this team and in this car so now it's looks very similar for working then shoot something with very limited team of three months seven hundred has been turned down our freedom rider comes up actually it was very easy you know everything would be fair on this team

it was almost the same way there were no of course people with smaller teams but. about the set up wise and. walking along was actually the same way and there is no engine for wonderful cool water for this and i think it was actually where these occur. but it was the mother's old some actually right now we've come a pretty i mean it's going to have more spending power. to put a bit more in the way that you consequently try right trying to work in conditions you know of course when they're left. and just to plow it's another team it's a new team is just so dear and the championship and the. need to pay for it with another group of people but i think you know on your mind it's very important to understand this before when you go into that and foremost and you will need to fight with a number of different people but what is it would you want to. take not so from

this garden to bring this on the top or likely somewhere you know go in some places and i hope or hope in the future we can do this i mean psychologically six six. we need to get you no need to your force as a force you cannot fight with the force and for doing what you stated you will. do you will drive the same car you will feel the same cycle as you will of the good living for that the actually i don't see the good stuff as thirty five point zero four zero in ford's putins i think it's even more humorous some of it was new to me it's new. it's to me to choose with me because i stole it there was it anyway you'll learn again something places will give a more plausible minus revive it in a month it's easy to turn the sound of some of. you will progress to peace

because here in america to use things you know really trying to unseat her larry yeah of course to you know if it could be you can only hope it. because you know when that is the sole course you know you always want to end in the moment i think what they did or did it and what we did together with a team would finish sixteen plays and move in malaysia and we managed to finish the race in the don't even in front of the voters i think this is in the moment what's more in the in the difference in pleased with the recent months well that's all the sport for now we'll have more in a little under two hours time say that.