b. 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 in china's favor so the china's 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 one 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 well you know it which would happen which country in the world has the ability to be allowed to your the united states china because this three trillion dollars and when it has that power or that ability it can always exercise

power well could be political ramifications for 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 it on for example i think that 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 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 economic trouble right that it will have to borrow money and if only china has the money to provide the u.s. 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 them so economic power can always be leveraged for political and foreign policy objectives the good thing 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 and that's

a good point but but there are you know they can be two views on this right one view is that after world war two the u.s. was able to determine how the global economic system would function right and broccoli 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 so some would say that if you have one big good guy maybe it's better than having multiple guys who kind of kind of ruin it you know what you could do two thousand of a very you know lateral world i just that one good guy can actually turn into a bad guy at some point that's a risk 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 know one. edge of more broadly ok or would like to put

you know sources of power multiple veto points making cooperation more difficult 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 iraqi troops absolutely that's a very good point that nobody was there to stop it exactly so i think the point you know it's a very good point you make is that you know if you have you know a one one zero or 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 all their debt and all that 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 is not necessarily fair well i would say that you know 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 to three years after 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 uncompetitive 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 they all come to dollars and the dollar becomes strong so the effect of all the sprinting 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 waltz confidence in u.s. dollar and dollar dominance allows the u.s. 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 devise of china and the fact that the chinese economy is becoming so strong it's a credit to big trader gradually over time the chinese currency would start to become like you know kind of displace the dollar because people will have more confidence in the chinese currency that in the american currency that's going to be a gradual process and you know but at some point it could start to happen gravity and that point you know the u.s. no longer has the ability to live beyond its means like you said because the dollars dominant but but that's going to happen over the next ten fifteen years the i.m.f. is traditionally been dominated by europe and the united states it was set up that way and he here you have this message that crisis in your own countries and you have the earth one country is asking nine years. countries to contribute more

resources to the i.m.f. to help them out do you think this current crisis could change the way the i.m.f. works to sort of shift the centers of power it's a very good question i think to some extent it's happening already it's happening already 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 will need money from the outside you know. frankly border was. don't have power creditors call the shots and at that stage with no europe starts weakening and it needs money from the outside and if china and russia still have the money to provide it. for you know changing the system they will have more power to say well if you don't do these things we don't give you the money so when you become weak you know it's inevitable that power shifts away from you and that's what the european crisis is actually galvanizing changes in the international

institutions thank you. there hasn't been anything yet on t.v. . it is to get the maximum political impact. before material is what helps keep journalism honest we. we want to present. something real. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything is. i'm tom

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headlines america close is the next. the f.b.i. now arresting is contacts in a part of the time. of the world's most famous whistleblower. live and here. looking at some of the china's economic full ching cookies will moscow and beijing continue to read from the same page when it comes to will politics you're watching the chinese president hu jintao. mr putin i will holding a press conference. hopefully sign some more deals some seventeen major business deals and trade deals are expected to be signed live event all the headlines from us egypt's muslim brotherhood saw it with moves for a million protesters calling for mubarak's execution hoping it will also sweep aside the presidential election and rival. europe today without top stories now world sport.

thanks kevin hello and welcome to this is sport with me or i'm on call serve plenty of ahead 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 quarterfinals with a three set win over czech claros a couple of our. youth against experience. with a rush a usa scheduled for thursday with both warriors speeding confidence of their victory . and russia's young weightlifting stories hoping to clinch the country's first ever olympic gold at the london games. let's start on the clay courts of the french open where the last russian standing maria sharapova has booked her place in the quarterfinals all vote she was pushed all the way to her last sixteen tie unseeded

check. paula becoming the first player to take a set off sharapova the thirty year old won the second on that side break but this adrian native rallied to win over three hours six four six seven six two as stony as kaia kanepi is up next. is a good chance for me you know i had chances to finish in two sets and i didn't. but i came out strong third set in i guess that's you know really were matters nice to be in the quarters again elsewhere not least so i sold the fence came to an abrupt end as the chinese star was crushing out so i'm seeded euro slava she had about three six six two six love the seventh seed joins the like salt serena williams and victoria azarenka on the sidelines. meanwhile wimbledon champion fed truck the device breezed past varvara lection called the united states as the czech never faced break points and needed and hour flat to secure a six two six one victory. over on the men's side holder rafael nadal stayed on

course for a record seventh so it's all the second seed spaniard real seventeenth straight games to thrash won monaco sixteen six love six love but it was full of respect for the argentinian. and i think he's playing broadly the best there is a few syria but you know. last. you know i saw him a little bit. suffering to be done. as one of my best friends are. very sorry for him but in the same time you know he's playing great he's having different results. world number four and a murray had a much harder time against a local favored rashard gask a the britain was seemingly struggling with his hip in the opening set to lose it six one but he battled back to what at one six six four six one six two and remain

in contention for his amazing grand slam title. standing in the way next to spaniard ferrer the number six seed progressed at the expense of compadres marcel granollers and has yet to drop a set after winning this one six three six two six love so murray is bracing himself for itself encounter but it was flintoff against among. in matches on and you know trying to. get on very well with them and. know each other very well he's. he's one of those players in the world and he sort of. also through its freshman joel for its own god the number five seed outstaying stanislaw small brain called switzerland's and its five setter six four seven six three six three six six four the final score waiting in the quarter finals is world number one bob jock itch. former u.s.

open champion juan martin del potro is also threw he checked so much burdick in a battle of the big servers he came through in four sets seven six one six six three seven five the argentinian now meets a real shit better. in football or russia have held their first training session after arriving in poland for the fast approaching european championships caught put his men through their paces just outside warsaw with defender alexander and you call me fielder is my last training with a group again a 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 of the three nil in a friendly last week zinni midfielder bangs a late brace and that morale boosting victory. also testing the ground early work the german national team as a crowd sent thousand fans turned up to what you ought to do loads and then work out in dunn's polish born miroslav klose he and lukas podolski received arguably

the warmest welcome while a recent injury wore a bus young schweinsteiger also to court germany face portugal 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 real also among the favorites denmark it's not very comfortable. but. the best may win them we have to struggle against portugal. elsewhere it's wise former world player of the year round has signed for a new side in his native brazil thirty two. roll joins at leisure coleman a role at least until the end of the year the move comes less than a week after the forward left flamengo and sued his former club over unpaid wages the former barcelona and midland star claims he's old up to twenty million u.s. dollars. moving on to basketball and the n.b.a.

where oklahoma took the lead in the western conference finals series following a one zero eight one zero three win over san antonio the thunder became the first all of the two sides to clinch and the way of victory and instrumental for the visiting side work kevin durant's with twenty seven points russell westbrook with twenty three and james harden with twenty minute in all 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. we just play harder play more together. twenty two assists you know it was great and controlled in a whole game on both ends of floor. you know and we kind of funnel his leak you know which is plenty of them in a plan or you know once you leave everything on the floor you know you're so if. you just gotta keep going. and that brings us to martial arts where the fight night

showdown returns to the russian capital for the seventh time this thursday top of the bill will see one of russia's best heavyweight prospects vitali call facing american sanchez the twenty nine year old is the vastly more experienced of its competitors he's won thirteen of his one thousand bytes and has competed on the world's biggest stage at m.m.a. promotion such as you see and balance 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 submissions. here is my message to eddie do not relax stay focused i have a lot to offer 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 i will produce many surprises for his week or stuff would be to stand the striking he says he's ready for anywhere so we'll see i love surprises. so i

hope the surprise is the start of this feat so we'll see we'll see what happens i think that's a lot of talk what's a fire comes on. to throw. the london olympics are just around the corner and one of russia's in younger stars in a way. aims to clinch the country's amazing gold and our correspondent. with one of the strongest women in the world. weightlifting used to be very popular in the soviet union and the names of olympic and world champions were well known around the country those halcyon days are over not only because the sport is no longer so but also because of the many myths prejudices and negative publicity surrounding weightlifting range with now the television broadcasts weight lifting only rarely people don't know about the sport and believe false stories because once a 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 jameka shooting or didn't listen to all the stories and put the burden of restoring the country to its place among the sports heavyweights on her own shoulders it's hard to imagine that the woman who can leave more than twice her own body weight get involved in the sport by accident as she once knocked on the wrong join 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 yet read it girls will be girls even if our sport is weightlifting was i think that regulators have strong characters that's what can scare me and that women have a much stronger personality. 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 weightlifters

who could do that anywhere in the world russia has never won the olympic gold in women's weightlifting since the sport was introduced in two thousand while four times. european champion and twenty ten world champion because sharing the is just twenty one years old and it seems there are lead from the moscow region has plenty of time to claim the world's strongest woman titles i give lots of respect to all my opponents there are always many good competitors you know and i don't compete with them i don't really care who they are i mean rival is a barbell in my aim is to beat it because shooting is the results have become much heavy over the last two years and she holds the world record over one hundred forty rooms 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 maiden medal constantine brought up a party. and reformer we'll bring you up to date less than a couple of hours from now but our you tube channel is available to you at any time just look for artsy sport news and i'll see as. well for the. science technology innovation all the latest developments from around russia we've got the future covered.

america closes the nets around julian assange with the f.b.i. now harassing his contacts in an apparent attempt to gather the world's most famous whistleblower. looks for some of china's economic fortune cookies while moscow and beijing continue to read from the same page when it comes to world politics. and egypt's muslim brotherhood saeed's with moves for a million protests calling for mubarak's execution hoping it will also sweep aside the presidential election rival before anyone else. hello this is our t. is three pm now here in moscow with the top stories for you this hour the latest

installment of julian assange g.'s show premieres today on this channel with the f.b.i. also now apparently among the ranks of loyal viewers to the agency said to have been given the green light to launch a surveillance mission of the prominent whistleblower and anyone in contact with a number of his guests indeed have been stopped and interrogated by agents with one even offered the chance to turn f.b.i. informant. reports. 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 sun here on our t.v. or else of how would several of the show's guests end up interrogated so about the weekly leaks founder in this week's episode features one of them that's jeremy zimmerman an internet freedom advocate who's based in friends at the airport traveling from the united states to friends he will stop by self identified f.b.i. agents and.