but first let's start with a story that has been dominating the financial had lines this week so the day that the u.s. will exhaust their boring capacity is looming but what does the ongoing deadlock mean for china the largest foreign holder of u.s. debt china's vice finance minister voiced his concern earlier in the week saying that the u.s. has a responsibility to resolve the debt ceiling round china's premier li can chang them expressed his concern the chinese leaders are calling for the situation to get resolved in order to ensure the safety of chinese investments in the united states which stand at around a quarter at over one point two trillion dollars taking over from japan in two thousand and eight is now added to this china also have a three and a half trillion dollars worth of u.s. dollars or another reason for beijing to worry about a potential u.s. default now in total china has roughly sixty percent of its foreign currency

reserves invested in u.s. assets let's get over to singapore now and hear from what for finance david icke for more insight into this david kay tell me what are the dangers for chinese investments right now. china is concerned china is very conscious of the fact that it is holding a lot of u.s. treasuries and china wishes it wasn't in that position in any case so therefore it is consciously trying to move an economy where from the next four to one that is going to be consumer led i mean this is a very important point china has previously received now is the factory of the world's a good producers goods and i think it's great for in u.s. dollars with all of us dollars there's no want to do with it so therefore it has to go and buy u.s. treasuries so which is it wasn't in that position unfortunately it is and it is actively trying to move away from that and trying to make its economy more consumer which is great news for investors who are looking to. supply consumers so it's

looking to diversify its funds but it's not the u.s. where else can china park its its huge amount of cash. that's an interesting point gave you china is already doing this because if you have a look at some of the investments the janitor is making right now a lot of people may not know this but it almost percent of heathrow where i mean even around what used to be the preserve of the u.k. investors but now and spend of that has been sold to china that is gone with which china is very aggressive fire in general using some of the reserves in order to buy assets and no one is a recent acquisition in america where i bought. pork producers in america smithfield so that is another example of how are you trying to diversify example where you just simply holding u.s. treasuries and it's also got investments in africa investments in south america so it's sort of china is definitely trying to diversify away from just putting all its

eggs into one basket so given that china does have a large bulk of its assets in the united states would you say it's fair to say that they are the the must see of u.s. lawmakers at the moment then david. well kitty is not just china at the mercy of the world's u.s. lawmakers is everybody in the world is at the mercy of u.s. lawmakers right now just our look at the stock markets around the world everybody has great concern about what would happen if america were to get off and instead because so many people are holding on to you where treasuries is not just china and confront all over the world from all over the world and in private and individuals are all doing it so therefore it is a very big that america would evolve in its day and of course you know everybody would be affected so consequently you know. for everyone you cannot just assume that an asset is one hundred percent safe and there are certain risks associated with it and what china is doing is they're trying to diversify away from where we

are just simply u.s. treasuries david kay thank you so much speaking to us from singapore today thank you for your time talk about u.s. treasuries we spoke to the russian billionaire and the head of the biggest alum and you produce in the world were sold yes i'm talking about how they got a pascal ferry ample scott space amabel's to him that his take on the u.s. debt situation back to the united states it's a big issue it's sort of hanging over everyone not that possible before the markets were relatively stable and have been during the shutdown of the united states and i suppose that's good news. is that was not a surprise i mean we were expecting more volatile respond in the markets will realize that we can move close to. default to a computer different story say you are expecting. more volatile we have no idea it was evil couldn't meet it was official reason we're not. going to come

here so they didn't manage to mean for us in the street before this is. probably rational with us. is a worrying time for those who have investments in the u.s. treasury. i would never do this to your story. but it's a bit. of a different risk reforms in the sense of back. of the science instruments which will look good grades and potentially some sort of a job. but shooting some sort of. so that's why they ross and all i go. about here a situation we know where the chinese cab when i won best is got but what i said that we had and what i thought we passed tell me to present have why you should catch at tim gallagher than here in the studio so i can say i know hundred thousand people on the night hundred thousand people that are not going to walk i appreciate

that but i can't say that the world has crumbled down around us people still going about their daily business. have a calf well that's exactly it because we see that in one thousand people lose their jobs never could there's no money but that doesn't make sense why you should care is because this is a mystery for some reason we have to we want to we could q e three and we're printing money we're living just like we did before look what's changed i mean we read these articles about how like the russians or the chinese are going to stop using the dollar maybe brazil and some other country but they still are they have a good idea just yesterday i read an article that the chinese are scared of buying treasury bonds united states scared but they're still buying the thing so what exactly has changed nothing and yet we have this illusion that there's no money in the system i just don't think that that's true so you will sell it since it is who knows i don't know you don't know i was going on no i think it's really something between the democrats and the republicans are some sort of what are you doing here we're supposed to be filming so during a trying to become an expert it's got you recall alcohol get out of here die you

die anyway and this is about as you know his it's really sort of i think the one for id i don't know but anyway i he followed me here he's anyways he and i. we discuss on our program why you should care we try to discuss these things about why you should care about things and fortunately he's always never listening and getting in the way but anyway my apologies this is a very serious issue especially with eight hundred thousand people getting laid off and if there's no money in the system interestingly enough there's no money the system will these people get in the unemployment checks let's hope so i certainly hope so for their sake i hope that you are getting paid as well as he does he gets paid in alcohol i hate to have a thank you very much these days but thank you time for corporate knees now then starting with air flow prices flagship carrier has revealed details of its low cost airline as a safe car that will be no over mining states and no business class but we all

promise to be hard for the price offered by the competition and they see the price we pay for most days the pieces back and eight out of us in cities before expanding abroad one hundred in ten people and twenty five percent of all the private wealth in russia that's according to credit suisse it is the latest global wealth of. russia's out also has found a two hundred thirty five carat mega diamond worth an estimated two million dollars . now i know exactly what i want christmas. so now let's check in at the business desk and speak to a fair and so i'm thomas he was poorly last week but you're now back all you back with a vengeance i certainly am and i have to thank you that care package that you sent my way certainly did the trick and there was a very sweet messages from people on you tube giving me advice on how to get better took that as well so i'm back and i'm really doing well on this whole stock thing i

think i've gotten the hang of it check this out you know i have been doing the financials yes well russia's biggest banks per bank they've been on a roll lately and for the second week in a role my. portfolio has risen three percent so i made two hundred ninety seven dollars drum roll please i am now at nine thousand eight hundred ninety dollars only one hundred ten dollars shy of the original ten thousand so i think. quite well this week and what are you going to do to get out of that ten tie. in order to get something positive to say well if it ain't broke don't fix it so i'm going to i'm going to do a little bit something different going to stay seventy five percent in with financials and spur bank because they seem to be on a roll but i'm going to take the quarter out because i'm looking at which is russia's largest diamond producer and there was news that they're going to sell sixteen percent of their stake which is owned by the government currently their

stocks are doing well i don't want to change the financials because i am doing so well there but i'm going to look at the reason why i'm looking at it because diamonds right come on they're sparkly they're fun everybody loves them and they are worth a lot so why not send the eight is. exactly so that might be my in if i have some stock in some diamonds maybe that could be my pick up line the latest move we keep hearing outside. so much i could do that which was a mix between so on and they could be. all right and show me thank you so much indeed and i'm so happy to have you back on the safe fighting now for those of you missy olympic ceremony here in moscow this is what happens so as the torch bearer they form a championship. round towards the kremlin a gust of wind blew out the top but luckily

a helpful secures man was on standby reignited the find that ran out the american manufacturer of the light is it decided to seize upon the opportunity and publish this damage but without the permission from the limp. satiation to display the iconic like i says a consequence if they now face legal action off their internet slogan saves a limb takes one viral some commentators did point out that the lighter had to be faked several times before the till it was successfully that. now that's all the venture capital for today and this week thank you so much for joining me. come back next week have a great buy. i

recently read headlines all over the russian internet screaming in full paranoia mode that china has just bought five percent of ukraine now they're writing that china will lease five percent of ukraine over ukrainian officials themselves claim that china won't be getting either and that this is a deal about some drip irrigation system the situation didn't explode onto the internet to the fantasies of bloggers the south china morning post reported that one company does have a crop in pig farming plant design utilized nine percent of ukraine's territory also last year the ban on foreigners buying leave ukraine. been lifted although i am the distressed will proceed getting a rich foreign country to pay to develop your nation's might not be too bad of a deal it would definitely take a lot of money to restore ukraine's farming to its former glory they see that ukraine used to be the bread basket of europe agree that steps back could really help the country but selling off or even just leasing nine percent of the nation's territory is absolutely unacceptable doing a large project with the chinese that is mutually beneficial is one thing but selling or leasing off your country is another and by another i mean treason but i

shift. to live the torch is on its. epic journey to suck. one hundred twenty three days. through two hundred two cities of russia. relate fourteen thousand people or sixty thousand killing. in a record setting trip by land air sea and others face. a limp dick torch relay. on our t.v. .

continues here on t.v. this is the weekly pitched battles broke out in egypt this week leaving fifty people dead much of the violence was centered on clashes erupted following between followers of the ousted president mohamed morsy and supporters of the military and security forces were also targeted in a series of deadly attacks across the country political activists ahmed whip says the muslim brotherhood is patrolling itself as the victim to win sympathy at home and abroad. it's a knuckle breaking situation it's a bottleneck both sides are trying to put a lot of pressure on the other until the other reaches a certain point of concessions that puts the other party in a much stronger position now than most of brotherhood are giving more and more into

the scenario of victimizing themselves they're going on the street although they haven't recently used violence but violence has been. imposed on them and they have a lot of victims in the past couple of days and in the past month or two they want to gain more sympathy locally and abroad iran will sit down for a fresh round of nuclear talks with the u.s. and five other world powers on tuesday a leading american sanctions expert is taking part which could mean the possibility of economic restraints on terror being eased however despite the sanctions biting iran's oil sector there is one industry that is still doing well iran is the world's thirteenth largest car manufacturer producing one point six million cars every year now that industry accounts for ten percent of the country's g.d.p. despite a ban on shipping parts some of the most popular persia and radio models are still made in iran and the country produces its own cars based on french designs

sanctions prohibit official business between the u.s. and iran but american companies such as general motors are already said to be moving in to secure their positions journalist george ma bruno believes the u.s. is just waiting for the right time i think already there i've been. secret contacts between us for and iranian counterparts in order to prepare or to undeceive paid a political deal between iran and the united states mainly these contacts. in the. but fortunately for us in france we are the brother the last one in europe to who tried to to to go to iraq because for the last these last years france was extremely active in the in the fighting against iran and were from was exerting a lot of pressures you know for the last twenty years the us.