his whole idea is the first start with the story that has been dominating the financial headlines 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 came chairing 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 course are 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 can you 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 or where it be next to one that is going to be consumer led i mean this is a very important point who previously were seen as 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. then where else can china park its its huge amount of cash. that's an interesting point you in china is already doing this because if you have a look at some of the investments that jana is making right now a lot of people may not know this but it percent of. i mean around what used to be the preserve of the investors but now and end of that has been sold china has gone with the china is very aggressive far in general using some of the reserves in order to buy assets and no one is a recent acquisition in america where i bought. a pork producer in america called 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 such as china is definitely trying to diversify away from just putting all his eggs

into one basket so given that china does have a large bulk of its assets in the united states would you say start 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 lewis and u.s. lawmakers it's 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 of great concern about what would happen if america were to get off and instead because so many people are holding on to where treasuries is not just china and confront all over the world from all over the world and the crowded individuals are all doing it so therefore it is a very big that america would evolve in its day and of course not everybody would be affected so consequently united is the learning curve for everyone and 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 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 a russian billionaire and head of the biggest al-ameen you produce in the world result yes i'm talking about how they got a pascal postcard speights haven't asked him what his take on the u.s. debt situation back to the united states it's a big issue. is sort of hanging over everyone not that possible before the markets were relatively stable and have been during the shutdown of the united states 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 the top with a different story you say you are expecting some of the time you have annoyed you know it was evil couldn't meet was official reason for it. to

come here so they didn't manage to meet force in the street before this was. probably gershon with those. is a worrying time for those who have investments in the u.s. treasury. i would never goes to your store. but it's a bill. i would never get from the risk referrals or the sense of pride. about science instruments which will look good grades and potentially some summer job. opportunity to some sort. so that's why the russian oligarch has about here a situation we know where the chinese can we know why best is get but why should we care that what i thought we passed is how many the present have why you should catch. here in the studio so i can say i know hundred thousand people in the night hundred thousand people that are not going to walk i appreciate that but i can't

say that the wall has crumbled down around us people still going about their daily business. have a calf well that's exactly it because we see that inner 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 had to we wanted to we could q e three and we're printing money we're living just like we did before what's changed i mean we read these articles about how like the russians or the chinese are going to stop using the dollar or 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 so sort of that what are you doing here we're supposed to be filming so you're ruining it trying to become an expert

it's got you recover alcohol get out of here you die anyway and this is. 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 anyways oh 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 way the system will these people get 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 you thank you very much these days but thank you time for corporate knees now then starting with airflow process flagship carrier has revealed details of its low cost ally as a safe car that will be nova lining states and no business class but the fares all

promised to be hard for the price offered by the competition and they see the price will go from most days to pieces back and eight out of us in cities before expanding a bit about one hundred ten people in twenty five percent of all the private well. that's according to credit suisse it is the latest global well for. russia's our all star 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 our french own 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 financials yes 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 drumroll 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 over that ten k. threshold 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 and 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 movie hearing outside. so much so 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 who miss 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 whole but luckily

a helpful secures man was almost down by reignited the find that ran out the american manufacture of the light is it decided to seize upon the opportunity and publish this damage but without the permission from the limp. say shaken to display the iconic like i say as a consequence if i now face legal action off the internet slogan saves a limb takes one viral some commentators did point out that i like to have some effect several times before little it will successfully. battle over venture capital for today and this week thank you so much for joining me for a day of praise. you come back next week have a great album by. james

. expect. to see. some may disagree. but i believe america is exceptional. just weeks.

this is the weekly live here on c pitched battles broke out in egypt this week leaving fifty people dead much of the violence was centered on karo where clashes erupted between followers of the ousted president mohamed morsi and supporters of the military security forces were also targeted in a series of deadly attacks across the country but is it activists ahmed 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 on the other reaches a certain point. concessions that it's more or less puts the other party in a much stronger position now the muslim brotherhood are giving more and more into. victimizing themselves they're going on the streets although they have any decency to use violence but violence has been. imposed on them and they have a lot of victims in the past couple of days 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 and being eased however despite the sanctions biting iran's oil sector there's one industry that is still doing well iran is the

world's thirteenth largest car manufacturer producing one point six million cars every year and the industry accounts for ten percent of the country's g.d.p. well despite a ban on shipping parts some of the most popular persia and row 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 jenna's george mulgrew no he believes the u.s. is just waiting for the right time. i think already there of been. secret contacts between us for and iranian counterparts in order to to prepare or to anticipate a political deal between iran and the united states mainly these contacts of kurds in the automobile sector and fortunately for us in france we are the brother the

last one in europe tried to to to go to iran because for the last the last years france was extremely active in the fighting against iran from is exerting a lot of pressure you know for the last twenty years the us where outside from iran and the the french businessmen i do quite a good position in iran to pose or know in the automobile sector and now they're afraid that these all these years of the force will be cleaned by the new deal which will happen between us and iran for sure that the european companies will be most probably losers in this kind of agreement time now for a look at some other world news the world updated stampede on a bridge the hindu temple in northern india has killed at least one hundred ten pilgrims over one hundred others were also injured as huge crowds attended a religious festival.