around. the future covered. curb it was to build its most sophisticated group which really doesn't give a darn about anything mission to teach religion why you should care about humans and. this is why you should watch only. how are you watching business on r t welcome to the program capital outflow from russia is always a topic of debate because it's so difficult to calculate as often thought to be exaggerated but now the economist the russian direct investment fund ernst and young and the i am assuming desire that this approach excludes foreign transactions and offshore investments and as it turns out the situation isn't

nearly as bad as originally thought let's now cross over to katy pilbeam for more analysis of this topic so he basically capital flight is the old topic with a new twist exactly we've had loads of conversations about have to go out and as i say you know that as you say it's a new choice it's a new approach a new method that has been taken on because the russian government they've always felt sort of hard done by oh my eyes because i said it's not a fire can kill a show as to what really happens what really happens to the russian economy so we've got analysis on how they came up with this new method if we look at the numbers to twenty eleven we're looking at about eighty one billion topping that. in twenty ten we were on track to sixty seven a billion so without further ado let's listen to good to meet you he's a c.e.o. of and he explains his method he's behind. but being that it takes for private capital flows and that figure is thirty two billion dollars for yourselves at the

level of egypt billion dollars and where as well big index is calculated for wasn't two hundred countries in the figures that all central bank use is only used for russia and no other country that visual this sort of uses that as a headline figure so that was also a very important result of a good little contradiction said phil but i think the figures in the occult believe it is the right figure what we are saying is that figures as a calculator isn't what flight of capital and there's a green and we'll talk to central bank about it so they are quite convincing really is that if we talk about the money that's leaving the billions of dollars natasha we've had a huge acquisitions which accounts for a lot of that we've had buying up to without specifying the dennys bank of course that's a lot of money natasha leaving russia and that can account for well maybe help but whichever way you slice it even if you slice of by how that's still like forty billion dollars that's a lot of money it's still

a lot of money in this house but it's a step in the right direction and livy i think this new method this new style of calculation is really to impress the finance guys the investors as far as i can so we've heard from the chairman of russia and he's saying it's a positive thing but i mean the underlying problem which is that people want to take money out of the country that's still there very much so it is indeed i think we're going to hear from the chairman and see that he might at contradict what you're saying to snow. to be to russia by its approach. to participate. in a transition. it's not just road to just six. years or so a very substantial number of this is publicly available. information which you need to look to understand so i think positive all of this analysis to show the difference between the russian so if you calculate and perhaps about

why you want them that's that's what internationally. so they have it that's his explanation for it all the way as far as the president of russia is conservative a person we know he addressed the country and he did acknowledge as. it's still too much and it needs to be addressed it needs to be dealt with on a permanent basis because as you say however way you slice it it needs to be reduced and he was zero zero zero also talking about the fact that he's going to limit the amount of accounts says security as people can help outside the coming up right well i'm sure this debate will go on and on right i'm sure we'll be talking about it well in the next year you know but not so i just want to say before i go that the first step teach. yet he said but it doesn't matter right away it's not a fair assessment of the russian economy and it shouldn't be. a growth. russia's energy giant rosneft is negotiating with oil traders to raise money through future

oil export sales the company needs cash to buy out the p.'s and t. and k. b.p. rosneft agreed to pay twenty eight billion dollars in cash and shares for the company making it the largest acquisition in russia's history raising cash through pre export deals is common practice worldwide rosneft is approaching some of the industry's biggest names including by tolling glencore the energy giant also plans to raise as much as ten billion dollars in one markets since it has plans to buy the other half of t.n.t. b.p. from the russian partners it will need a total of fifty five billion dollars to buy out russia's number three oil from early on monday business artie's spoke with ban arrows the editor in chief business new europe who said that this is really a very risky approach however the problem is there's just not enough money on the

other side to rush medications this is a big hand to go nuts for forty billion dollars in such a social place of time means that the people who normally would borrow from them simply run out of money. into russia. well let's take a quick look at the equity markets here in russia they finished the day mixed as you can see there the my cigs gained about a quarter of a percent while the r.t.s. shed about choose thirds of a percent on monday now on the currency markets the euro was trading higher to the u.s. dollar and here in russia the ruble ended the session lower to the major currencies russia's metals giant new rules could nickel officially named its major shareholder billionaire volume or pattani and as its next c.e.o. he will replace cold ski who is leaving with a one hundred million dollars severance package the biggest in russia's history for

his parsed your vocals he said on monday he will donate ten percent of his golden parachute to support the veterans of the f. as be formally known as the k.g.b. and that's the latest from the business team you can always find a lot more interviews and news r.t. dot com slash business. do we speak your language. or music programs and documentaries in spanish matters to you breaking news

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airlock . live. we don't mean member of china's foreign policy advisory committee and also former

china's ambassador to the united nations and to france thank you very much for being with us today sir thank you i'm pleased to come to you so you have been in a foreign service for over fifty years now you've seen a lot of leadership change in your country china's new leader xi jinping we don't know much about him what kind of man is he personally i have had several contacts with him not when he was after he was a laptop and then he writes me too young to give. me lakshya about international relations. and he asked the senior people of the his prominence to come to the same conference the impression i got from that he's the he's man read to learn. in the international radiation is that something all the chinese.

people and i didn't position there as the right tool to learn about for it so it's a man who is eager to learn one has he came in the first think you said he highlighted that he is gonna eliminate corruption within three communist party he stated that this was the main problem that i get every leader who becomes head of china says the same thing that he's going to fight corruption within the communist party is this just a populist statement or do you think this guy's really good. populist statement no corruption yes you are right but the scenes in the last ten years corruption is good more and more serious a lot makes chinese very angry about it and there this time he said we have to be very serious serious when we crack down on corruption so this is one of the issues

facing china and there he said when he saved that i think he's position is quite clear we're not tolerate corruption well you take whatever major which is necessary to crack down corruption you know i looked at the recent numbers and this year china's g.d.p. is expected to grow around seven point five percent and really the smallest amount since ninety nine. and that china is facing serious problems such as income inequality gender imbalance also environmental problems how will these factors hinder the growth of the country you know in the past thirty four years china's growth was pretty strong raftery nine point eight percent per year this is very high growth growth the vacuum of growth we are not able to maintain for for ever if we slow down i think the two mind the standings good thing. that is called yeah yeah yeah throw down because we care more about quality

not about the quantity that time the adjustment is necessary for the chinese economy so in your opinion the new government shouldn't be worried about challenging itself to a double digit growth no we should not not learn not to look for that double digit growth syria has become a stumbling point main stumbling point between china and the united states as well as for russia but you know for russia it's understandable why it would be so against the regime change in syria and against chaos in syria because it's a jew geopolitical question for russia why would china quarrel with the united states about a faraway country that's not even on supporters we believe that the matters of the syria should be decided by the syrian people not by the outside force if it is outside forces say that i don't like this guy i want him to go to for the

chinese these is not acceptable because you are following those you don't elect a leader of this country why should you decide who should stay who should go so we have a problem when these that come statement for china is syria only question of principle there is no other interest in the connecting up syrian president right now he sighs and we care about the stability middle east. china depends on the meter reads the oil we import a lot while you're from this region certainly the peace and stability of this treaty are very important in the chinese side you know a couple of years ago i heard you say that china will never challenge the united states militarily now that the u.s. is looking to set up elements of its anti-missile defense systems and southern japan will your statement be any different you see us doing that

to my understanding this is a sort of cold war mentality cold war is over you know i don't see in the foreseeable future the war between major powers i don't see that but still in the u.s. some people are very enthusiastic about the military building up that time the weapons a new weapon system etc etc but world has changed so u.s. is doing that thirteen we chinese were not happy about it but we're not we have no means to challenge it certainly as far as china is concerned military modernization of defense is part of the china's and modernization program so where we are the proceeds of our. defense was nice ation was not going to challenge us

what happens if the u.s. doesn't sell its elements of anti-missile defense system and thousands japan how does china react to that that's a u.s. decision we are not happy about about it yes we have differences. in this regard doesn't mean that that will be the end of the china u.s. relations china u.s. relationships you see huge. we have differences we have also common interests i know past the forty years china us coming just have kept growing to the satisfaction of both sides on that issue we have differences we can argue about it that was the will not be the end of the u.s. china cooperation china also tops the list of nations holding us for and us it's about ten percent of it actually and you know many people still say that the

future of the dollar is uncertain we don't know what's going to happen to it in the future what should china do about its vast holdings of the u.s. foreign desk why are you china has such a vast vast holding of the u.s. dollar. people cause in this one. u.s. dollar is the most important the reserve currency what else you can use you can buy certainly we care about the. depreciation of the u.s. dollar was. course a huge loss for for china but in the meantime we are we are discussing with the u.s. why whether you see is it possible for for china to turn part of our foreign currency reserves into investment what kind of investment would that be for instance in the infrastructure of the u.s.

personally i want to us in ninety seven he won't allow time for the first time i was there young men. i i am me at that time us if we are infrastructure highway everything airport but to today even i go back to us the infrastructure of us you can see a poor poor shape so in this area china us we can we can i mean cooperate you think united states would let invest china into something the strategic as its infrastructure the infrastructure use the strategic if we prove the highways strategic what we mean by strategic i think. we improve the source of power station. great it said well this is not strategic in the beginning of the interior starting saying i started saying us that we don't know

much about the new leader of china but it too says china itself has always been a mystery to the outsiders is this how china actually protects itself or do you think it's really a failure to communicate itself to the world on one side you know the chinese culture which are known to laos and world the world today. use the western culture dominate one hundred people understand western culture as far as the chinese culture is concerned people don't know it culture is so important culture the size of people's mindset mindset determines the course of action the chinese culture you see it's a very old culture well and very long although now it yeah there's certainly a lot of interest towards chinese culture why do i not know about that because in the past china was very weak china lags far behind the industrialized countries in the past century we are catching up i think there are side worlds start showing

interest in chinese culture you see that's good and one side the chinese culture is a far from being known by the outside world on the other side we have to improve communication skills feel you know outside world to have the same cliches that still types looks the way look at china in the light of the former soviet union but china china china's different people don't know that but i'm not to pessimistic with thanks to opening so many foreigners go to china so many chinese that go abroad every year i think maybe seventy million chinese go abroad some sixty five million following those go to china that's good with that i mean the scale of people to people exchange of people i think outside world come gradually

to understand better what's going on in china why do you think the west is always suspicious of china because we have a different systems sometimes they have to they are very suspicious about the chinese communist party. they tend to look at the chinese communist communist party you know like that with the former soviet communist party. beckham that you know it's quite i mean common in the international relations sir thank you very much for this interview thank you. choose your language. of choice maker with oh if you're going to chill some of the . treatments that the consent yet you. choose

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