china is a big net creditor to the world 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 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 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 which would happen which country in the world has the ability to bailout 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 it 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 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. 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 things that one of the reasons not to get over are 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 in the 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 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 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 relating to you know what you can do two thousand of a very unilateral world i just 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 know. one was brought to you

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 iraq. absolutely i think that 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 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 they 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 create 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 of their debt and all that 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 plan. 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. you print a lot of money if you really want to make your currency cheap and competitive you know you were printed 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 this printing money has not been to make the currency cheaper you know with the china's policies has made the chinese currency cheaper what you've been talking about is basically the world's confidence in us dollar and dollar dominance allows 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 dries 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 kind of displace the dollar because people will have more confidence in the chinese currency and the american goods that's going to be a gradual process and you know but at some point it could start to happen gradually 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. has 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 years on countries and you have the years on countries asking nine years on 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 but 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 there's no border was. don't have power creditors call the shots and at that stage we know europe starts weakening and it needs money from the outside and if china and russia brazil 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 the changes in the international institutions thank you. there hasn't been a. t.v. . it is to get the maximum political act. before material is what helps keep journalism. we want to present. something else.

like look. let's be. clear. at least see a little bit of. outline of a little. 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 love something might be going off by mistake especially a lot of nuclear weapons on hair trigger alert. of the difference to use it as a threat. and you know if you keep spending a trillion dollars a year on weapons of your going to blow everybody up you can you know people are dying from these weapons but until we actually see it people don't wake up to. a bill. that represents all of the firepower of the second world war this second sound is the equivalent. of the world's nuclear arsenal today. 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 everything you thought you

don't know. welcome to the big picture. he.

headlines to u.s. interest in julian assange takes a sinister turn this is contact so harassed and interrogated in their part attempt official information about the wiki leaks founder. moscow and beijing continue to cement their strong ties as day one of the team of putin the village of china reaffirms their shared a number of international issues. as egypt braces for a million strong protests calling from execution the muslim brotherhood is accused of capitalizing on people's anger the sweep aside their presidential election rival . that is are full of me kevin out in fifteen minutes between now and then sports on his action on day ten of the french open begun at roland garros with andre he's got a lot more to. welcome

to the sport and let's start with the headlines so i mean final places are up for grabs at the french open with world number one novak djokovic u.s. open champion some studies are in action plus injury scare russia's choice goalie asking fear and defend a new call for a new race to be fit for the start of the european championship and shouldering hope we catch up with one of russia's younger sibling peons whose dreams of winning the country's first ever way you go. straight to roland garros with the first quarter finals have got underway and i often knocking out top secret of asking to many kids the bulk of it is up against. it but it is studies that in the first set their ball games to take on the shot to be a quarter while the other quarter final will see italian start on the take on and germany this irani second consecutive grand slam quarter final and she's full three up in the in the exchange tuesday while these two matches will be followed by the

men's quarter finals world number one novak djokovic from local favorite child free to song that off second on call for the thirty eighth while third seed roger federer faces one martin he's lost against the swiss five times the she is already . russian pen maria kirilenko and just starting their quarter final in the women's doubles and no one in the world down there in the first set against the king and jada she's. rushing to partner stand up pace from india and then makes doubles and they will play the top of the eagles and max may have and. now it has been an injury scare for russia head of the european championships first choice keeper eagle i confess has developed in a problem and is training on his own. saying that to scar stop. quarter on his name will be monitored before russia's opening game against the czech republic and rights and poland on friday defended alexander is also recovering from

a knock but better news for midfielder matt it is my last who has started training with the squad again and says the players have every motivation to do well at the europe's. all of our guys play for european clubs and so people all over the world know them they know russian players therefore of course if anyone gives even a better performance here of this forum they get a better chance to go to a good club everyone knows it's the best market place there is. meanwhile a crowd of ten thousand fans turned up to watch joe can learn his men work can compile and polish close say and lukas podolski received arguably the warmest welcome to our recent injury worry bashing swine also took part germany faced portugal on that saturday and they will have to work hard there to qualify for a great big. it's a very tough group. strong teams like. portugal we're also among the favorites markets not very convoluted play but. the best we

have to struggle against portugal. another four points manchester united have agreed to sign japan midfielder shinji kagawa from german side around eighteen million dollars the twenty three year old scored at thirteen goals and thirty one people in this league games and when he won the league and cup double last season. elsewhere twice former world player of the year has signed for a new side in his native brazil the thirty two year old joins us. at least until the end of the year the move comes less than a week after the forward left and city's former club over unpaid wages the former boss a loner i'm a land star claims he's up to twenty million u.s. dollars. and if you want a basketball in the n.b.a. where homer have taken a three to lead in the western conference final series following one hundred eight hundred three win over san antonio the thunder became the first of the two sides to clinch an away victory and instrumental to the visiting side with kevin durant's

twenty seven points russell westbrook with twenty three and james harden with twenty you know billy added that walking thirty four points however was still not enough as oklahoma now takes three teams seriously ahead of getting six which takes place on wednesday on the home court. to just play harder play more together. twenty two says you know it was great control going to hold both as a floor. you know we got a photo of his leg you know and which is plenty of government plan or don't want to leave everything on the floor you know yourself so you just go to keep going now boxing great manny pacquiao has held his last training session before defending his welterweight title against american timothy bradley in las vegas this weekend the pair go head to head at the m.g.m. grand on saturday night packing i was one fifty four with his fifty eight fights while bradley hasn't lost any of his twenty eight professional bites. brittany's i

mean has announced his next fight he will take on the w.b.c. super lightweight champion danny garcia from america but the show jewel to take place on july the fourteenth in las vegas but before then can says he will sit down to watch the upcoming package and predicts the filipino will stop his opponent. your body fry is going to be. safer to postpone to money pack your stuff supports the point is. start cutting some good clean shows i get to fight. for money but go looking strong in the gym looking you know it's hard so easy to do but bubbly a very tough test on a big very very hard. brings us nicely to martial arts where the fight night showdown returns to the russian capital for the seventh time on thursday the top of the bill will see one of russia's best heavyweight prospects vitali macof facing american eddie sanchez twenty nine year olds the vastly more experienced

a pretty competitive he has won thirteen of his nineteen fights in the skin painted on the world's biggest stage and a promotion such as the us a better tool his russian opponent however is the three time world champion his strength is obvious with forty seven professional wins by way of submission. if you wish to 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 andy the best of luck but it's a safe bet that will produce many surprises for him as we pour stuff would be disturbing the strategy he says he's ready for anywhere so we'll see our love surprises. so hopeless 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 what's a fire comes. to grow try to throw. lastly the london olympics and just around the

corner one of russia's youngest stars and white lifting tatiana aims to clinch the country's maiden gold our correspondent constantine pathak off caught up 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 while well known around the country those hellsing 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 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 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 read it girls will be girls even if our sport is weightlifting was i think that weightlifters had strong characters that's what can scare me in that 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 athlete 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 shearing

there is just twenty one years old and it seems the athlete 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 to go 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 shearing is the results have become much heavier over the past two years and she holds the world record of one hundred forty eight kilograms 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 made the medal constantine brought up of our team. one to look out for that is all sport for the moment more than a couple that. good

laboratory to mccurdy was able to build a new most sophisticated robot which on fortunately doesn't give a darn about anything turns mission to teach music creation why it should care about humans in. this is why you should care only. with the end of the war and going away. many people thought that nuclear weapons

disappeared. the risk is not zero that something might be going off by mistake especially of nuclear weapons on hair trigger alert. of the victims to use it. all but you know if you keep spending a trillion dollars a year on weapons of actually 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 second sound is the equivalent firepower of the world's nuclear arsenal today.

well with the. technology innovation all the least of elements around russia we've got the future covered.

u.s. interest sun takes a sinister turn and his contacts are harassed and interrogated in an apparent attempt to fish out information about the wiki leaks. moscow beijing continue to cement their strong ties as day one of the visit to china reaffirms the shared stance on a number of international issues. as egypt braces for a million strong protests calling from a barracks execution the muslim brotherhoods accused of capitalizing on people's anger to sweep aside their presidential election while. this is r.t. it's five pm now here in moscow welcome if you just joined us in our top story within just a week now julian assange his lawyer set to have to challenge his extradition to

sweden it comes and it seems as u.s. authorities already have the knives out for the australian the wiki leaks founder program here in artie's apparently awakened the interest of the f.b.i. with one guest on the show even stopped and interrogated by agents bringing up to date on the story of softening his artie's ghani. 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 hear watching the sunday shows here on our t.v. or else i would several of the shows and guests interrogated 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 questioned about julian assange that we can leaks website says mr zimmerman was swept and with arrest and imprison.