but if you measure it in terms of purchasing power it's as big as the united states one second china is already the world's largest trade. tree 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 the 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 bailout your north the united states china because this three trillion dollars and when it has that power or that ability it can always exercise power what 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 it's you know the u.s. wants china to be on its side 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 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 that so economic power can be leveraged for political and foreign policy objectives. one of the reasons not to get over 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 the 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 of 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 conduct. 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 it. but but the flip side to 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 has a more 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 troop absolutely i get 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 tings 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 that don't you see a hint of hypocrisy when when you. says bashing china over their currency policy

but at the same time buying with their own currency in a way that is not necessarily fair well i would say that you know i think this is a pattern 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 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 the oil comes to dollars and the dollar becomes strong so the effect of all the sprinting money has not been to make that 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 world's confidence in us 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 or devised of china and the fact that the chinese economy is becoming so strong it's a credit to be treater 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 goods that's going to be a gradual process and you know but at some point it could start to happen gradually and that 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 it was

set up that way and he here you have this mess if that crisis in your is own 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 border was. creditors call the shots at that stage with 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 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 and changes in the international institutions thank you. it is to get the maximum political impact. before which is what helps keep journalism honest. we want to present. something we'll.

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stories you are interested in julian a song takes a sinister turn as his contacts are perhaps interrogated in an apparent attempt to fish out information about the wiki leaks founder. moscow and beijing continue to cement their strong ties as damed want to putin's visit to china reaffirms their shared stance on a number of international issues. and some live pictures here as egypt braces for a million strong pro task calling for mubarak's execution the muslim brotherhoods accused of capitalizing on people's anger sweep aside their presidential election rival tens of thousands now on their square. we'll have more details of the top of the hour andrus here next with the latest sports.

thanks for watching the sports and these are the headlines to federal funding to reach the last four of the french open off the studies under on the semifinal places in the women's drool. plus injuries russia's first choice goalie i can feel it and defend a new call for a race to be fit for the start of the european championships. and shouldering hope we catch up with one of russia's youngest in peons who has a dream of winning the country's first ever fifteen go. but first know about djokovic and roger federer to make the semifinals at roland garros joke of age the world number one is to set one down against local favorite joel free disowned the frenchman had levelled the match off the losing the first set and won the last that seven five. in the pool while roger federer is battling to stay in the tournament he has just pulled a setback against argentina as juan martin del potro to travel to one. and he's winning the fourth set there by games to love. well earlier on

a stroll in some studies became the first woman to reach the semifinals a straight sets win for the u.s. open champion over slovak is the many to support studies of will play italian side it early in the last four after she got past germany. and russian pair maria kirilenko and that is what trayvon after the semi's in the women's doubles the straight sets win for them against the new king in. the north a good news for russian. she and partner he and the players from india in the mixed doubles semifinals. max merely on a deciding tie break ten five. has been an injury scare for russia ahead of the european championships first choice keeper he got back in fear has developed a knee problem and is training on his own at the moment russia coach take out the car saying new to scar stopper as fluid on his knee and will be monitored before russia's opening game against the czech republic and what's left in poland on friday defender alexander a new cover it's also recovering from

a knock but better news for midfield that matter of who has started training again with the squad he believes their group which also contains greece and poland will be a tough challenge and says russia's plays also have additional motivation. all of our guys play for european clubs and so people all over the world move them to a new russian plane therefore of course if anyone gives even a better performance here's a good school room get a better chance to go to a good club everyone knows it's the best market place the roots one of the pre-tournament favorite of the netherlands and they have held their first training session at their base in the polish city of crack of and have kept the bulk of the squad reach the world cup final in twenty ten but while they believe that will put them in good stead they are also in the so-called group of death with germany portugal and denmark. i think we have got the toughest group of this europe obviously germany is one of the favorites portugal as well and we are not to

underestimate denmark too but we played well in the last two matches and there is a lot of self-confidence but it's a long way to go well in a green that are germany they held their first training session at their base and get dance in poland a crowd of ten thousand turned up to watch turned up to watch that recent injury worry bastian schweinsteiger took part germany face portugal in the open on saturday and it meant they will have to work hard if they are to qualify for the great big. it's a very tough group. strong teams like. portugal we're also among the favorites then markets not very comfortable to play but. the best may when we have to start well against portugal in other football news manchester united have agreed to sign japan midfielder shinji kagawa from the german side the eighteen million dollars the twenty three year old scored thirteen goals in thirty one but in this league games for development he won the league and cup double last season

he's currently with his national squad ahead of a world cup qualifier with jordan and told reporters the deal with united is nearing completion. i just saw the reports myself i would just like to say that i haven't signed anything as of yet but it is true that we are working on the terms of agreement we still have two more games ahead of us so my team mates are currently looking to concentrate on the upcoming qualifying games i will talk about it after the games so i'd appreciate your cooperation first as a member of the national team i would want to bring good results to the games on the eighth and the twelfth so i ask for your help and support to let me concentrate on that elsewhere twice for the world player of the year has signed for a new side in his native brazil the thirty two year old joins atletico many a day at least until the end of the. yes the move comes less than a week after the forward lefler mango and sued his former club over unpaid wages the former barcelona a man star claims he is owed up to twenty million u.s.

dollars. living on the basketball and the n.b.a. well oklahoma have taken a three two lead in the western conference final series against san antonio that courtesy of one hundred nine hundred three road win last night instrumental for the homework kevin durant's with twenty seven points russell westbrook with twenty three and james harden with twenty seats returns to oklahoma on wednesday for game six. which is play harder play more together. twenty two says you know russell was great i control the whole game on both ends of floor . you know we try to follow his lead in oregon which is clearly your plan or. should we were going on the floor near you so for some. boxing great manny pacquiao has held his last training session before defending his welterweight title against american timothy bradley and last favorites this coming weekend the

pair go head to head at the m.g.m. grand on saturday night pacquiao has won fifty four of his fifty eight fights while bradley hasn't lost any of his twenty eight professional banks elsewhere britain's i'm in a car has announced his next fight he will take on the w.b.c. super lightweight champion danny garcia from america that he showed you all to take place on july the fourteenth in las vegas but before then can says he will sit down to watch the upcoming packy i fight and predicts the filipino will stop his opponent. pluckier but if it's going to be basically it say of a post a poem to a money pack your stuff supports the point is could should put use in a start that should have some good clean shops i get the. money but go months looking strong in the gym looking you know it's hard so easy to give bradley a very tough test on a big very very hot. and lastly the london olympics just around the corner and one

of russia's youngest stars in white lifting tatiana cashier in a range 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 helston 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 once a mother brought her son 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 yanick 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 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 was a trios i got into this quite by accident but i have never had credit girls will be girls even if my sport is weightlifting with i think that weight lifters have strong characters that's what can scare me and the women have a much stronger personality. but it wasn't hard to discover had talent when she first arrived in the gym you could clearly see had 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 cashiering 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. ponens there are always many good competitors 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 shirin as a result has 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 a maiden medal constantine brought up of fire team. that's all the sports are fighting.

secret laboratory to mukherjee was able to build a most sophisticated robot which fortunately doesn't sound anything tim's mission to teach creation why it should care about humans. this is why you should care only on the. wealthy british style stock.

market why not. find out what's really happening to the global economy with max cons or for a no holds barred look at the global financial headlines tune in to kaiser report on our.

u.s. interest in julian all songs takes a sinister turn as his contacts are harassed and interrogated and you know parents of tabs of fish out information about the wiki leaks founder. moscow and beijing continue to cement their strong ties that day one i'm glad you made a pretense visit to china reaffirms their shared stance on a number of international issues. and thousands gather on egypt's tahrir square for what's promised to be a million man protest calling for hosni mubarak's execution. that's nine pm in moscow this is archie coming to you via from us now with our top story with just a week left for julian assange lawyers to challenge his extradition to sweden it

seems u.s. authorities already have the knives out for the australian the wiki leaks founder is interview show here on our t.v. has apparently awaken the entrance of the f.b.i. with one of his guests even stopped and interrogated by agents are you going to choose to 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 hear watching the sunday shows here on our t.v. or else of how would several of the shows guests end up interrogated so about the weekly leaks founder 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 and the weekly leaks website says mr zimmerman was swept and with arrest and imprisonment.