united states one second china is already the world's largest trade. treaty china is a big net creditor to the work it finances the u.s. and the u.s. is a debtor so it's this combination of the size of the economy the fact is a big trader and the fact that it's a creditor confers on it a lot of power that's today and over the next ten fifteen years all these numbers are going to go all in china's favor so the china is going to become an even bigger economy than the u.s. and even bigger treated in the u.s. and continue to be you know financing the u.s. so that combination is what is making china very dominant let me give you one example swan example so take the fact that china you know finances the u.s. right or to so much cash three point three trillion dollars worth of cash if europe gets into trouble you know it which would happen which country in the world has the

ability to bailout your united states china because this three trillion dollars and when it has that power or that ability it can always exercise power what could it be political ramifications that as far as crucial foreign policy issues for example over syria will the u.s. pay more attention to what china thinks about certain issues well if you take you down for example i think it's you know the u.s. wants china to be on its site and you know if china were to sit take north korea for example you know it's a great example you know if china were on the side of the u.s. . things would be so much easier but but the fact that china has an independent view on north korea makes chinese american dealings with north korea that much more difficult in fact in my book i begin my book with a kind of fantasy scenario where i say that you know ten years from now if the united states gets into so much. trouble right that it will have to borrow money

and if china has the money to provide the us china might say well we don't like your military presence in the pacific your naval presence and you have to you know get rid of that so economic power can always be leveraged for political and foreign policy objectives. one of the reasons not to get all four kind of anxious about this is that it is a mutually dependent relationship you know so one country doesn't want to inflict too much damage on the other because it backfires on yourself but that being said there are areas where you know some countries you know china has more power and it could use that too and i mean like for example as i said you're on north korea or iran or you know the fact it's just so much financial power and economic power can always be used for political ends but isn't that a good thing in a sense that there it restores some kind of balance when there is not just one kid

on the block ruling everything but there is a kid consulting with everyone else because it is dependent on another that's a that's a good point but you know they can be two views on this right one view was that after world war two the u.s. was able to determine how the global economic system would function right and broadly it had a liberal view you know there should be more free flow of goods and services and so on which everyone benefited from and the country that benefited most from that was china you know the fact that markets were open some would say that if you have one big good guy maybe it's better than having multiple guys who kind of kind of. you know what you could do two thousand at a very unilateral world i guess that one good guy can actually turn into a bad guy at some point that's a risk and that's exactly but but the flip side of having multiple you know sources of power. is that you can also get paralysis in decision making so whether

cooperation is easier with you no one was brought to you or would like to put you know sources of power multiple veto points making cooperation more difficult more easy is an open question you can argue it both ways but i would argue for multiple powers because when we're talking about a unilateral approach we have an example of that iraq. absolutely that's a very good point that nobody was there to stop it exactly so i think the point it's a very good point that you make is that if you have you know a one one hour you know even if they can sometimes you know do things unilaterally which are bad objectives because they want to check that the u.s. is the world's biggest debtor and it seems the main way they address the gigantic that problem is the money printing machine. has money printing become america's

main business. well i think yes and no i think it's on the one hand you know to have printed a lot of money in the last let's say three four years you know but i think they would argue with some i think fairness that that's what you needed to get this economy back. when it went into you know the kind of great recession after the crisis you wrote a lot about china keeping their currency deliberately undervalued to preserve their competitive advantage the u.s. is terribly unhappy about that but the u.s. on the other hand is also playing with their currency constantly printing money that they don't have to pay out their debt and all die but don't you see a hint of hypocrisy when when the u.s. is bashing china over their currency policy but at the same time playing with their own. currency in

a way that it's not necessarily fair well i would say that i think there is a pattern a little but i think the past is over done the funny thing is the following that even though the u.s. has been printing a lot of money in the last two trios off the crisis the dollar has not weakened it has become stronger. so you print a lot of money if you really want to make your currency cheap and competitive you know you would print a lot of money but because the rest of the world still has so much confidence in the dollar when there's a crisis the dollars and the dollar become strong so the effect of all this printing money has not been to make the currency cheaper you know we have to china's policies has made the chinese currency cheaper what you've been talking about is basically the wall confidence in u.s. dollar and dollar dominance allows the us to live beyond its means

essentially to some extent yet so how long can it last well the thing is that it cannot last indefinitely because. in my book i argue that because of this the rise of china and the fact that the chinese economy is becoming so strong it's a credit to big trade or gradually over time the chinese currency would start to become like you know credit displace the dollar because people will have more confidence in the chinese currency there in the american goods that's going to be a gradual process and you know but at some point it could start to happen pretty and that point you know the u.s. no longer has the ability to live beyond its means like you said because the dollar's dominant but but that's going to happen over the next ten fifteen years the i.m.f.'s traditionally been dominated by europe and the united states. set up

that way and he here you have. to. help them out do you think this current crisis could change the way the i.m.f. works sort of. it's a very good question i think to some extent. it's happening because you know the formal voting is still very much biased as you said in favor of europe and united states but the more the more europe gets into trouble the more it would need money from the outside you know. at that stage with europe starts weakening and it needs money from the outside and . the money to provide it. for you know changing the system they will have more power. don't give you the money so when you become weak you

know. that power shifts away from. the european crisis. galvanizing changes in the international institutions thank you. wealthy british. markets. find out what's really happening to the global economy with. global financial headlines. kaiser report.

with the end of the war and the going away of the soviet union many people thought that nuclear weapons disappeared. the risk is not zero that something might be going off by mistake especially a lot of nuclear weapons on hair trigger alert. because of a difference to use it. all but you know if you keep spending a trillion dollars a year on weapons of eventually you're going to blow everybody up you you know people are dying from these weapons but until we actually see it people don't wake up to nuclear weapons or a bill. that represents all the firepower of the second world war this. is the equivalent. of the world's nuclear arsenal today.

on t.v. . it is to get the maximum political impact. before material is hopes journalism. we want to present. something. little bit older. world. i live.

in america is the new surround. and. take up economic tips. from the same page when it comes to. egypt's muslim brotherhood sides with. protest. execution. of. anyone even but. it's nice that iran.

hello and welcome this is sport of artsy with me ron calls for a plenty of it heads over the next ten minutes or so but first the headlines. still standing russia's sole representative in the french open maria sharapova books her place in the quarter finals put it reset win over czech klara stuck a ball about. youth against experience but now it's showdown returns to moscow with a rush a usa clash scheduled for thursday with both warriors getting confident of their victory. and lift off russia's young weightlifting stories hoping to clinch the country's first ever olympic gold medal of the games. but start on the clay courts of the french open where the last russian standing maria sharapova has booked her place in the quarterfinals although she was pushed all the way to her last sixteen cy unseeded czech lara's a ball about becoming the first player to take a set off sharapova the thirty year old one the second only to try break but this

siberian native rallied to win over three hours six four six seven six two as thorny as kaia kanepi is up next. is a good chance for me you know i had chances to finish it in two sets and i didn't. but i came out strong third sad and i guess that's you know really what matters is nice to be in the quarters again. elsewhere not least sides of the fence came to an abrupt and as the chinese star when crashing out so on the seeded euro slava shed about three six six two six love the seventh seed joins the likes of serena williams and victoria azarenka on the sidelines. meanwhile wimbledon champion patrick bit of a breeze past varvara left chunk of the united states and the czech never faced a breakpoint any did in our flat to secure a six two six one victory. and over on the men's side holder rafael nadal stayed on poor. for

a record seven so it's all the second thing spaniards reels off seventeen straight games to crash one monaco six to six club six love but was full of respect for the origin time. i think he's playing broadly the best days of hysteria but probably not not today. especially last but i said when. he started to me is you know i saw him a little bit. suffering google bit on court but then so is one of my best friends and i feel very sorry for him but at the same time you know he's playing great he's going to fantasy results while world number four adam already had a much harder so i'm against local favorite rashard gas skate the britain was seemingly struggling with his hip in the opening set to lose it six one but that's all back so what one six six four six one six two the league's in contention for years the maids in france and so it's all. standing in the way next year david

ferrer the number six seed progress that expense of compassion marcel granollers and has yet to drop a set after winning this one six three six two six slot self is bracing herself for it's often counter. we can see among. shoes on and you know quite a lot might get on very well with them and. know each other very well. he's one of those players in the world don't you sort of. also through is freshman joe wilfred some god the number five seed outstaying stun is last of all wrinkled switzerland and its side fights that are six four seven six three six three six six for the final score waiting in the quarterfinals is world number one novak djokovic. former u.s. open champion juan martin del potro is also through he'd be checked so much burdick

in the battle of the big servers he came through in four sets seven six one six six three seven five the argentinian now mean to russia better. now in football or russia have held their first training session after arriving in poland for the fast approaching european championships coach dick advocaat put his men through their paces just outside warsaw with defender alexander and he called and we feel there is mile of training with a group again russia kick start their euro campaign against the czech republic on friday and have emerged as the in-form side after a stunning it's a three nil in a friendly last week is a neat they feel there's room on sure also bagged the late brace and that morale boosting victory. also says thing the ground early were the german national team as a crowd of ten thousand fans turned out to watch those men work out in big guns polish border clothes they and those who received arguably the warmest welcome

while a recent injury worry bus young schweinsteiger also support germany faced forty go in their opener on saturday and say they will have to work hard if they are to qualify from their group b. . it's a very tough group. strong teams like the netherlands and portugal we're also among the favorites and denmark it's not very constitution play but. the best may win and we will have to start going against portugal. let's move on to basketball and the n.b.a. now where oklahoma took the lead in the western conference finals series following a one zero eight one zero three win over sat and so many of this became the first of the two sides to clench and away victory and instrumental for the visiting side were kevin durant's put twenty seven points for russell westbrook with twenty three and james harden with twenty this person manu geno but he added a whopping thirty four points however that was still not enough as oklahoma now

take a three two series lead ahead of game six which takes place on wednesday on their home court. and that brings us to martial arts where the fight night showdown returns to the russian capital for the seventh time on thursday top of the bill will see one of russia's best heavyweight prospects cough facing american edgy sanchez that's what a nine year old is vastly more experienced of the two competitors he's won thirteen of his nineteen fights and has competed on the world's biggest stage at m.m.a. promotion such as you exceed the end belts or his russian opponent however is the three time world sambo champion whose strength is obvious with four of his seven professional wins by way of submission. to here is my message to eddie do not relax stay focused i have a look tool for in the ring i'm looking forward to despite and i would like to wish

eddie the best of luck but it's a safe bet that i will produce many surprises for his report stuff would be the standard to strike you he says he's ready for anywhere so we'll see i love surprises. so i hope the surprise there is the start of this field so we'll see we'll see what happens i think that's a lot of talk once a fire comes on. trying to throw a group but will certainly be looking forward so that meanwhile the london olympics are just around the corner and one of russia's youngest stars in weightlifting. aims to clinch the country's made in gold and our correspondent constantine one of the strongest women in the world let's take a look. weightlifting used to be very popular in the soviet union and the names of olympic and world champions while well known around the country those helton days are over not only because the sport is no longer so popular but also because of the many myths prejudices and negative publicity surrounding weightlifting range good

with now television broadcasts weightlifting only rarely people don't know about the sport and believe false stories want to mother brought her some to me and said she wanted him to start weightlifting so he wouldn't grow very tall it doesn't work like that luckily one of russia's brightest stars in women's weightlifting that's yannick a shooting there didn't listen to all the stories and put the burden of proof storing the country to its place among the sports heavyweights on her own shoulders it's hard to imagine that the woman who can leave to more than twice her own body weight get involved in this board by accident as she once knocked on the wrong door in the gym and instead of going to a dance class she went into the weightlifting room there were to illustrate that into this quite by accident but i have never had credit girls will be girls even if our sport is weightlifting with i think that way glitter said strong characters

that's what can scare me and the women have a much stronger personality rable who didn't know it wasn't hard to discover had talent when she first arrived in the gym you could clearly see have potential at the age of twelve she could lift the weights of amateur athletes i've never heard of young weight lifters who could do that anywhere in the world russia has never won the olympic gold in women's weightlifting since this board was introduced in two thousand while four time european champion and twenty ten world champion cashiering there is just twenty one years old and it seems there live from the moscow region has plenty of time to claim the world's strongest woman title i give lots of respect to all my. opponents there are always many good competitors you know but i don't compete with them i don't really care who they are my main rival is a barbell in my aim is to beat it because she ran as a results have become much heavier over the past two years and she holds the world

record over one hundred forty grams in the snatch however due to the strength of the chinese and south korean rivals even this weight might not be enough for the gold in london though the russian will be going all out to claim a personal best and a major medal constantine brought up of our team. i'll be back with another update on less than a couple of hours from now but our you tube channel is available at any time just look for r.t. sport news. well. science technology innovation all the developments around russia we've got the future covered.

with the end of the boer war and the going away of the soviet union many people thought that nuclear weapons disappeared. the risk is not zero that something might

be going off by mistake especially when it sounds a nuclear weapons on hair trigger alert. purpose of a difference to use it as a threat all as an actual weapon you know if you keep spending a trillion dollars a year on weapons of eventually you're going to blow everybody up you you know people are dying from these weapons but until we actually see it people don't wake up to know through weapons or build the new. that represents all the firepower of the second world war and this second sound is the equivalent firepower of the world's nuclear arsenal today. please

please. america closes the net around. the f.b.i. now harassing his contacts and parents attempt to gather dirt on the world's most famous with. eastern union putin is looking for some of china's economic fortune cookies moscow and beijing continue to read from the same page when it comes to world politics. and egypt's muslim brotherhood sides with groups from protests calling for mubarak's execution it will also sweep aside the presidential election right before anyone even votes. well nice twenty four hours a day this is carried out. the latest installment of julian assange is premiering

today here on r t with the f.b.i. now apparently among the ranks of the oil viewers the agency is said to have been given the green light to don't use a variance mission on the prominent whistleblower everyone in contact with him a number of his guests have been stopped and interrogated by agents and one even offered the chance to turn f.b.i. informant he's got if you can has more on the story u.s. officials say there is no indictment against julian assange but apparently the u.s. is going after him after all in their quest for evidence they might be watching the songstress show here on our t.v. or else how would several of the shows and guests end up interrogated by u.s. officials about the week it leaks founder and this week's episode features one of them that's jeremy zimmerman an internet freedom advocate basting friends at the airport traveling from the united states to friends he will stop by so.