she would be soo much brighter if you. move from france to pressure. on some t.v. host. live from moscow this is artsy here you have lines tens of thousands of demanded justice across spain as workers protest cuts in labor of forms with a general strike the massive industrial action is seen as a tough test for the country's young government comes a day before it's expected to announce more painful austerity measures. petrol panic grips the u.k. ahead of a possible time could drive a strike with fuel costs escalating london paris and and washington are all

considering releasing oil reserves to push down prices. by moscow with news of its opposition to foreign military intervention in syria because a divided arab league debates how to end the violence but the group will give its backing to a u.n. sponsored peace plan while calling on the opposition and president assad to fully comply. so i don't next year not see a very oh no so if you shop and i say talk to the chairman of the world's largest commodities trading company but his take on where china the euro and the dollar are all headed this is art. someone more a chairman of the multinational corporation rank or also the former french foreign

missionary it's great to have you with us sharing us closer 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 whether that's going to lead the world forever or have a i don't think so i don't think that we have to sort of go ahead or chinese sentry not so why this phobia of china folding our china it's coming it's very small it's all because on a comparison basis compared to china for example when i first read there were nine hundred seventy when they had absolutely nothing of course it's very different china is a manufacturing company 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 the english were the most prosperous nation in the world

certainly per capita all on the back of my factory so the industrial revolution on the back of coal and i think hundred 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 broadly really leads to prosperity and the western world has swung away from manufacturing into service industries and that is. also have huge dollars or 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 the growing cost base some base and over the next twenty years we may well see the chinese manufacturing moves offshore to

places like cambodia and vietnam and maybe. that's a cycle is it that simple is that there's just a formula cheap labor hard work isn't it's all about your paper are i do something more the hard work the do you put in there people did they talk about asian values of hard work those are exactly the same they're victorian values the same in the u.k. everybody used to work much harder in a way than they do today people of sixteen years old work it work i'm less working in the coal mines today everything is much softer and human rights and entitlement on the benefits and so on china doesn't have those which makes you wonder is that a good thing or not i don't actually think was a good thing and i think it is in monetary terms it is amazingly successful so china is growing at eight percent per annum whatever the figure is seventy eight percent brown and the rest of the world isn't really doing it to go to war i

comparison so yes they have huge none of the success on the surface but underneath they have lots and lots of problems t. believe in the theory china's getting older faster than is going to change. i don't know that i have heard 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 the haves and have nots china are reported to have three hundred fifty thousand million has been reported to have a hundred fifteen billion has a lot 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 and they are much better off than they were forty years ago there is no question about that and about the wealth has spread over everybody is ok in the sense that they are better off than they were got still

big differences still a long way to go twenty million people. a year move from the rural areas of china into the urban areas and looking for jobs every year i mean china's got to find two hundred million jobs over the next ten years that's a pretty big task china's cost base is wising the china is now starting things like minimum wage you have discontent in china and many villages there are riots and people are on strike but we don't see that if those towns all go out on 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

he's think europe is up to the challenge should he repeat working harder this painful yeah yes i would like to see less of this sort of. sand. we live in the european in the west. an age of entitlement people come out of university with my job i mean title to john i'm entitle to this i'm the type of the benefits i've just arrived in england where all my benefits i think we have gone a little bit soft yes but is there a point of turning this whole thing back. probably not i think but the politicians in england are trying to bring in what they call as they would see measures you see what's happening in greece whether whether people will take accept this or whether they will rebel you have seen in greece a rebel you have seen in england in november we have students rioting in the streets bashing windows robbing shops and so on so will we have rebellions and so i

think we probably will. there's going to be resistance to this is to us it will be here as in survive as one whole 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 benefit the german nation of more than anybody else because if we didn't have the euro we would have the deutsche mark i would have the lira italian lira would be here the lira would be here so it would be one to say these bans for three four hour is what do you think you take probably the three four or 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 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 get unemployment but the man in the street in germany sees his taxpayers' money going to these guys in greece who he thinks are very spoiled they don't pay tax they'll get up in the morning or whatever they do actually they were pretty hot in greece but they do not pay their taxes so he resents that and that is politically very tough for the german politicians to sell that they have done it at the moment greece has been allowed to the tune of three billion dollars 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 people we have ever seen today the greek debt is five times bigger than that and five hundred billion dollars is italy's that five times bigger than greece two point five trillion dollars ok and put that sort of thing in a context of the eighty two billion 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 pay back its 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 a long long time and in the meantime do they go into deflation. well they go into inflation and americans are terrified of deflation because they remember the one

nine hundred twenty s. soup kitchens people lining up in the street to get their soup at lunchtime grateful for all of its own steinbeck's corks and so on the germans are terrified of inflation because the american public i just twenty nine fifty million don't work for a loaf of bread so when you understand what inflation really is this is inflation. this is a one hundred twenty little really that's a trillion dollar note of one hundred trillion dollars that is inflation that is a zimbabwean dollar and that buys you probably in the bad way i don't know it was your coca-cola or something that is inflation so the germ of the third photograph when i was a boy we all had a million notes which were worth nothing so you got to play different attitudes

from europe and america in the western world on how this should all be approached ok but the question is the wrong side of when hero americans are also having rained out how do they do to maintain their high living standards i don't know that they to maintain their high living standards but they wanted of course they do everybody wants to america are in debt to the true american government than that that the fifteen trillion dollars that's 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 pounds in crisis probably prices people being ejected out of their houses they even have in america they have tent villages where people living in tents you can see that they have an america and it's getting to come back and they had 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 come up 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 that will reduce. ability to spend 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 had the first bank on the back of massive massive credit good when people fear that we would have a double dip and here we are right on the edge of it thank you very much it was great to have you with us today thank you.

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says. the headline dog see tens of thousands to monmouth justice across spain as workers protests cuts on labor a full moons with a general strike the massive industrial action is seen as a tough test for the country's young government and comes a day before it's expected to announce small painful austerity measures. petrol panic and grips in the u.k. ahead of a possible time could drive a strike with fuel costs escalating london paris and washington old consider releasing oil reserves. pushdown prices. must go over news its opposition to

foreign military intervention in syria as a divided arab league the pates how to end violence the group will give its backing to a u.n. sponsored peace plan while calling on the opposition and president assad to both fully comply. into the world of sports we go with you to an end of the latest action from your end with the champions league done and dusted for another week attention canal turn to the you rope early yes thursday night that means europa league time it's quarterfinal time as well gloria tell you what there's no russian close but you can't move for german and english teams there we're going to more not just a sec. perhaps you can be this is plenty ahead over the next ten minutes or so including the story simply. hardwood hopes bilbao the deficit in their euro league basketball quarterfinal with c.s.k.

moscow after victory in game. then there were eight the quarter final stage of football's europa league gets going in a few hours with manchester united's conquerors outlet it looking like the team to beat. pedal to the floor are teach us exclusively to russia's first ever formula one driver of the telly petroff but his start to the new campaign on his hopes for the future. we get going with basketball were assessed by moscow have suffered defeat for only the second time in this season's euro league the army men though still leading their quarterfinal series with bill heading into friday's game for roared on by capacity ten thousand times the pop side knew it would need them a nation from the competition side holding precarious forty seven forty lead at half time help in particular by the outstanding mark obama it should cause costas this those who talk sport for a while the twenty points well are in jackson thirteen chris fitch is getting high

twenty two points for the visiting russian simply not enough held on for a night before eighty one victory all to play for now in game four tomorrow. over in the n.b.a. meanwhile toronto have ended there are two game losing streak at the expense of denver in canada neither side in the respective conference playoff place is heading into the game so a tight for a was expected and that's what occurred eighty five apiece something end of the third period but it was the home side who came out on top andrea bargnani trying to . top it on which twenty six points hundred five ninety six the finals. brings us to football where this year's european giant killers are preparing for their next test in the roper league athletic bilbao who shocked manchester united in the last sixteen gearing up to who shelf in the opening leg of the competitions quarterfinals the spine years helping holland europe but inconsistent domestically

sliding down to eleven place in the league shortly after beating united five three in our group gets on the constant shelter manager of stephen's thus admitting he's not certain just so good as opponents really are however he can come in classy and huntelaar who is the europa league top scorer with nine goals while kinetic monitor marcelo p s two has vowed to go all out by not resting any top players for saturday's clash with barcelona. the last polish or even an old german final is still a possibility for lindsay if he can only see out for the dutch side at home in eight european games but they have one in their last seventeen away matches twenty ten winners are plenty who madrid for company and after dropping munches to city out in the last sixteen sporting will enter as big favorites against metallicity of ukraine. and tennis women's world and one victoria azarenka has lost for the first time this year the belorussian feeling to reach the sony ericsson open semifinals

following defeat to murray in perth charlie. beat on a twenty six match winning streak since the turn of the year run which included her is truly an open victory in melbourne in january it was the best start made by any player on the women's tour since martina hingis in one thousand nine hundred eighty seven a frenchwoman for charlie the woman in control this termite winning in st six six three six three. four telling our faces poland's i'd missed her advance in the last four that's for the fifth seed soft returning venus williams in straight sets six four six one this week saw a one hundred thirty fourth run. returned to competitive tennis for the first time since the us open last september after illness. in the men's draw and the murray has built his place in the semifinals after a four six six three six four win over young sort of h. it was the serve those who fought back from a break to take the opener before murray did likewise in the second promptly saying

the match in the final set. to rafael it i'll be the scots next challenge the spaniard coming out the right side of a three set quarterfinal with france's joe wilfried tsonga the ten time grand slam winner pushed all the way by the frenchman despite looking after two breaks in the opening five games alone the goal of four two in the second before a brave song a fight back was ended in the final set six two five seven six games before the final score i and i felt commissioner roger goodell has stated he understands fans frustrations following the league's recent punishment of the new orleans saints coach sean payton was suspended this month for the whole of next season after the merge the team were paying players bonuses to injure opponents i worked very closely obviously as we were getting the same sort of hurricanes or saw it first hand of the saints passion and their fans persian and i think i clearly

understand their frustration but i also everyone else understand the thirty two teams and everybody is going to have to operate the same rules. derek just sure is meanwhile it's going to get back into the ring as he appeals his indefinite ban from boxing the twenty eight year old has his fight license revoked two weeks ago following a series of incidents before and after his loss to the telly klitschko in february there's an bob when born briton caused a huge stir when he slapped the elder klitschko brother the way in germany then spot water into the face of younger brother who is ringside supporting his sibling right before the bite it's how he went on to secure unanimous decision before another klitschko nemesis david haye he stormed into the post match press conference prompting a scuffle which is sort of the brawl leftists were briefly detained by local police who are still seeking to question a choice come to see the boxers interests were not properly represented when his

license was taken away on march. and finally to form the one where it's been a mixed start to the season for rushing to tally petroff the katherine driver is in his first season with this new team after losing his place but the freberg rocket is optimistic about the future as he explained in an exclusive chat with our city. i think it was not a bust of a fortune cleared the first place we didn't leafing is booked anyway i think we sure were good results and. in malaysia finally finished and actually it was a good receive a stimulus it started from within then it was good so it was actually really exciting it was quite the tricky one because it will save a lot of whining and you can say look i've got a month old. yeah actually i did my sim i think on this team and on this car so now it's like first of all when they chase something we're going to seem

a few months how to become a sprinter account or pleading for an hour to come to a job actually it was very easy you know everything would be fair on this team with was almost the same like it had been there no of course the people with smaller teams but. it was set up wise and. the word came around was actually is the same way and is when arranging for one focal to work with the same i think it was actually really easy for me. because it was the mother's old semi mostly right now we've got the better team i'm just going to have more spending power. to put a bit more in the way you consequently tyrone trying to break and finish you know of course when i left. and i understood now it's another team it's new to me to go to be in the championship and. i will need to go forward with another group of people but i think you know on your mind it's what important to form the standards

before when you go into that and to understand you will need to fight with a number of different people but what is it would you want. take matson from this garden to bring this on the top or at least somewhere you know go in some places and i hope i hope in future would come to this i mean psychologically you see sick . we need to you know need to of course. force you cannot fight with the force and for doing what you state it you will. do drive the same car you will feel the same level as you will of the good in for that to achieve it i don't see the good stuff still far more than tool for putting forward speed and so i think it's even more given some of them because new table it's new. it's you need to change it to get me because i've been stole their ways it will anyway you'll only gain something this is will give

a more plausible minus we're going to come on pretty much the same thing and come to some of. you will progress to peace is here in the moment to view these things you know real time and no one has the power of the alpha course to live with it could be you hold the papers. because you know when they lose the soul of course you know you always will do in ending the moment i think what they did or did and what we did together with the team would be mission sixteen plays and move in malaysia and there we managed to finish the race in the don't even in front of the voters looking faces in the moment what's more they can do in the difference i'm pleased with the no one seems months past your sports this hour and weather is next year in twenty four hour party.

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