so what are the cons if you will, are there disadvantages to joining the wto. this is what the experts had to tell me. >> wtoception is a -- w -- wto, the advantages or disadvantages won't happen overnight, but i think in the beginning will actually see the disadvantages that the acception brings, especially for the russian companies that are not necessarily competitive, that they're in need of modernization. so this openness to more trade and competition will put pressure on these companies either to get out of the business or modernize themselves. so this will -- this may bring unemployment to certain sectors, especially in cities that have single industries. >> what is interesting about this, the comparisons with china and russia. china joined the wto in 2001 and it was an instant boost, foreign investment poured in by the billions, exports, china grew by 26 percent a year, and it took china to the second largest economy. to add something else, another member joined the wto, the beautiful island in the pacific, 157th member and you can only think what it's g

>>> russia joins the wto. foreign companies line up to get a piece of one of the world's biggest economies. the world trade organization has admitted a new member. russia will commit to play by the same rules as the more than 150 other countries in the group. it will lower trade barriers, making it more attractive to foreign investors. the russian economy had been the biggest outside the wto. members of the organization agreed last december to make russia a member. >> the ministry confirms, so agrees. >> trade officials will cut imports from 10% to 7% within seven years. exports of oil and natural gas have helped propel the economy. but government leaders want to reduce the dependence on natural resources. and they hope to revitalize the manufacturing center with foreign investment. they'll have to address a range of issues including complicated customs regulations and widespread corruption. russia applied for wto membership in 1993. protective policies in the energy and agricultural sectors were among the fac

because, for me and everyone else who works in agriculture here in russia, the wto is evil. we must have the same conditions if we are to compete fairly with foreigners. the state has to help us modernize our machinery, at least with tax breaks. >> livestock also presents new challenges. import duties for dairy products and meat, and the days are gone when the government camper here that the import of foreign meat, but the wto also brings some benefits to the farmers. >> in some ways, keeping livestock will be easier in the wto because imported farm machinery will now become cheaper for us. the big disadvantage is that imported milk is also much cheaper. dairy farms in the west are suddenly competing with us and putting us under pressure. >> the farmer is able to sell some of its land in order to finance the machinery it needs to stay competitive, but many smaller farmers will not have that option and will probably have to close down. >> stocks have been trading lower today. let's bring in our correspondent, who is standing by at the frankfurt stock exchange. we do have to p

. >>> coming up next, russia joins the wto. find out why our next guest says membership won't automatically translate into growth. >>> japanese exports have slumped. the 8.1% annual drop was well short of median forecasts of a 9.9% drop. lorraine tan is still with us. lorraine, i mean, today's export data, fairly disappointing. what do you do with it as an investor? >> yeah, i mean, i still think it's going to be a little while before we see the data improve. we're probably talking at least another couple months. even what's going on with the stimulus in china is not really filtering through to data and we don't expect it to do so until towards the end of the third quarter. as far as japan goes, it marks a softening trend in gdp expectations, you're a developed country and your assets are being compared, for example, to what's going on in the state. on a relative attraction basis i think there are some investors probably shifting back to u.s. equities as well. >> basically, if you have to choose, in the u.s., do you think inves

wto members need to urge it to keep its pledge to lower import tariffs. >>> he says russian officials could change course if state revenues fall or if membership in the wto hurts domestic industries. >>> japanese exporters have had a tough time of late, the debt crisis in europe has been on drag on exports. >>> the deficit last month was $6.5 billion. exports fell 1.8%. that month the second straight monthly decrease. shipments to european nations tumbled, 25%, exports to china dropped 12%, the economy there has slowed under the weight of the debt crisis. growing demand for liquefied natural gas used in power generation drove an increase in imports. they were up 2.1% to about $74 billion. finance ministry officials say they will keep a close watch on how the trouble in europe affects china. they say the relationship with their largest trading partner is the key to achieving a trade surplus. and south korea too, relies on china, for the bulk of its trade. so it is not insulated from the slowdown there. the rough patch in the economy is changing consumers' attitudes. many south koreans

the eu recently started consultations to pursue a wto case. we are approaching this in every way possible to make sure that countries having these policies understand the full impact of their actions. >> i am not confused by the argentinian. i appreciate your diplomacy. they are sending a clear message. they have protectionist policies. they do not live up to their responsibilities to pay debt to bondholders. and are acting in a way that sends a message not to invest. i hope you will consider filing a wto case to address the concerns of american business. i will turn to senator rubio. >> what is the general feeling from the american business community in terms of opportunities in investment and growth in mexico. i have been concerned by all of the violence and the drug problems they are getting. there is also this emerging middle class and consumer class that is being created. what is the view of the business community about mexico moving forward if thinew administration comes in? >> thank you senator rubio. the investment community is optimis

according to our partners at wto p radio it will have to remove 100 acres of trees and shrubs. it would not necessarily remove any trees. the $190 million project is expected to be completed in late 2014. >> drought conditions across the nation are getting worse and are about to have a global impact. the united nations price index shows food prices are up 6% across the world because of corn prices. the united states produces more corn than any other country. that drought is still in effect. glucks we do not need one big storm. that would that do anything. we need a long period of a weather pattern change with rents that would last five or six days. >> and really soak the ground. >> let's get you started here. a few isolated downpours, especially along the fairfax montgomery county lines. heading into baltimore. the big blob is up there to the northwest of the metro area. flash flood warnings in effect in eastern sections of frederick county. this is a heavy rain. they picked up two or 3 inches and areas. more rainfall is falling. some pretty good downpours. meanwhile, all after

spain has 60 days to show that its rules are not unfair, after which argentina can ask for a wto panel to settle the matter. the claim comes at a time of strained relations between madrid and when desires after argentina nationalized the ypf will company, a subsidiary of spanish oil repsol earlier this year. >> here in germany, new economic data out today shows that employees are working longer and then later than they have since the 1990's. >> many are putting in more weekend hours. our work by the federal statistics office found that about one in four employees are working on saturdays, and nearly 10% are spending nights on the cockpit on average, germans were slightly more than their european neighbors, putting in just under 41 hours a week on average. well, they may be working, but the germans are also finding the time to follow their favorite sport. that is soccer. >> you can certainly say that. although their team struggled to compete against of the big spending clubs from spain and england, for example, the bundesliga is the best than- supported lead in the world. as a business

. >> they assured you -- wasn't your grandmother supposed to be going with prince jackson wto a jackson family concert in new mexico. isn't that where she was supposed to be going? is it not a fact she had no idea she was going to this rest home kind of place? >> no, that's not true. i don't know anything about her going to a concert. >> was there a jackson family concert in albuquerque new mexico that weekend she disappeared? >> yes there was a unit tour she were doing and probably in mexico at that time. but i don't think she was going there at that time when they said she was missing. i don't think she was going there. >> that's not what i heard. is it not a fact that prince jackson joe's grand nephew had a physical fight with randy at the jackson family? >> no. >> wasn't that the scuffle that was reported to the authorities? is>> no. no. i don't know anything about that. i don't know anything about that. >> was there a scuffle between randy and jermaine and -- >> i do not know. >> you haven't heard anything? >> i haven't heard anything about the scuffle. >> you are totally satisfied

mexico has launched a wto, word trade organization dispute against argentina. is breaking in the past few minutes. the complaints surround argentina's import licensing rules at which some say are blanket restriction of import, and protectionist policy. this is the complaint that mexico had launched against argentina at wto. >>> time to take a quick break. still to come the global economy may be false terrifying. are policymakers willing to splash cash on travel. we'll hear from the president of one of the leading travel websites. we'll be right back. [ male announcer ] whether it's kevin's smartphone... mom's smartphone... dad's tablet... or lauren's smartphone... at&t has a plan built to help make families' lives easier. introducing at&t mobile share. one plan lets you share data on up to 10 devices with unlimited talk and text. add a tablet for only $10 per month. the more data you share, the more you save. at&t. ♪ ♪ i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today ♪ la la la la la la la [ male announcer ] dow solution

. >> you wto >> you kne that's where he was. he was going to do anything he could to say i'm here.ou're okay. just stay right there and we'll be okay. >> i want to bring in gloria borger. just hearing romney speaking. that was '98 when she found out about m.s. and it's very emotional for them. it's a side of them or a side of mitt romney we don't always see. >> in talking to people throughout his life, particularly people he worked with at the olympics after she was diagnosed it's very clear this was a really, really difficult for them. what tagg was tearing about is the question i asked is your father's a fix it guy. tagg said he couldn't fix it. that was very difficult for them. ann romney talks about this as if it happened yesterday. in an interesting way so does mitt romney because it stays with her. it's still a struggle she has every day. she had a relapse after super tuesday and collapsed. >> you see this side of them. there was a washington post poll out in terms of females that the gender gap between the president and mitt romney is six. the president is up six. i was talk

we won in front of the wto. we created many jobs. the sake think -- the same thing happened with rubber priotires. >> all right. >> could you talk about the two political conventions that are coming up? what will the presence of the afl-cio be in tampa? who are the republicans he would like to talk to? [inaudible] >> people in north carolina are pretty feisty. they are pretty tough. the conventions this time are unlike the past. everything is pretty much already decided. i think it is a little anticlimactic for everybody. i think there will be great issues that will be talked about. i think you need to look at those things because i think the platforms of both parties speak volumes about who they are and what they are. you know, we will have labor activity -- i looked yesterday at the labor festivities around the country. there will be constructing in north carolina and some stuff elsewhere. the president will be ever -- wherever he will be. we will be participating. this saturday, we have the second bill of rights today. we assessed

nationwide with lost six money and jobs since 2000 when china joined the wto. this must stop. we must enforce our trade laws and the rebuild our american manufacturing base become -- before become nothing more than a colony that supplies china's needs. the middle class begun to low income, unskilled workforce. earlier this year i was active in responding to help keep good jobs in minnesota. statewide campaign led by democratic state representativ representatives, and my union, supported an amendment to can proposed construction of a new minnesota vikings football stadium. it requires that the stadium be built with 100% american steel, and the steel must be confined to northern minnesota. and if all goes well they will win a super bowl. revitalizing american manufacturing should be an urgent national priority. 55,000 factories have closed, which results in six money and jobs lost. factories don't often read open after capacity as they were but we do have hope. the u.s. now relies on force a partial everything from steel to batteries and critical high-tech components but to ever

th wto, nationally oduce him. we'll see. also should interesting how they handle the abortion issue, how they handle, particularly, in a state like florida, medicare issue as well. there is the personal side. the policy side. they're going to try to put it out there. and you know, shape their message. democrats get they're turn. get ready for grand political theater. >>eck in neck. >>> developing story, powerful earthquake struck el salvador this morning. a 7.4 magnitude quake off the coast about 100 miles southeast of san salvador va door. moments ago a magnitude 5.4 aftershock. a tsunami warning, for several neighboring nations, costa rica and mexico. no word of any damage. >> keep an eye on that. back to tampa for a quick second. nominating convention has come to the end when those red, white and blue balloons of course fall from the ceiling. well this week, the music students from tampa have made it happen. they actually inflated 120,000 balloons using a contraption invented by the event's planner. >> they blew them up 2

excellent sign for the global economy that during a time of trade negotiations and challenges with the wto, for example, it's essential that major economies come together. so we are simply complying with the guidelines we've set down. >> these are unrelated matters. we have, as i've said before, complete confidence in our ability of our european friends that they have the means and the will to address their issues. both of our countries, both of our economies need increased trade. it is essential for growth, it is essential for growth on both sides of the atlantic. this is an important agreement that we're negotiating. we have the goal of having an ambitious agreement that will not only set a high standard for agreements between major economies going forward, but will also provide a sign, a signal to the global economy that major developed countries are able to move forward on the trade agenda. so this is important for both of us. we've set an ambitious timetable to achieve that. negotiations are going well, and i'm confident that we will successfully conclude. [speaking german] >> transla

you look at what barack obama has done. 80% of the company was against the wto, he had two years to destroy what bush created in eight years. the derivatives. the oil. the war. the propaganda outlets. but refused to lift a finger to do anything. now the democrats know that they not spit in the face of the base. that's why they're having their convention in north carolina. until the country comes together and forms and other union -- i don't know whether there will be riots in the streets or whatever -- the democratic party has been dead. i want to ask your listeners -- there's a book called "and taking back the rust belt one radio station at a time." it talks about clear channel radio in texas. the last four morris have been started by texans. all the oil companies are in texas such as halliburton as well. the kennedy assassination was in texas. when you talk about democratic party, there has to be a new democratic party to get us through this new version of globalization. host: here is what charles had to say -- next caller is in alexandria, virginia, kenny. go ahead. caller: i just wanted

we won in front of the wto. we put several thousand workers back to work creating steel pipe because they didn't have to compete against illegal subsidies and other ways of cheating that chinese have. the same thing happened with rubber tires, the same thing happened with a number of auto parts. so, we should be enforcing our laws and because they are the biggest deficit, they should get special treatment and not any more special scrutiny than we should be given to anybody else can you talk about the two political conventions coming up and the presence of the afl-cio who are the republicans might want to honor -- [inaudible] >> they are a pretty feisty group down there. intensively than anyplace else. at the conventions at this time are unlike conventions in the past, everything is already pretty much decided. but i feel there's a little anticlimactic for everybody i think there'll be great, there will be issues how will be talked about, there will be plots the will be decided you need to look at those things. t

. >>> after a nearly 20-year wait, russia is now the newest member of the wto. steve? >> the republican national convention is just days away. mother nature may be stopping by. forecasters say tropical storm isaac is moving west toward the caribbean on a track that could take it to florida early next week. the gop convention is being held in tampa. isaac is expected to become a hurricane by friday but it's still too early to gauge whether it will head to the sunshine state or turn north into the open atlantic. we'll get a complete forecast from the weather channel in a few minutes. let's check on markets this minute. becky -- >> i want to welcome you both. >> good to be here. >> we have a lot to talk about. >> we just lost the board there. down five points or something? >> yeah, it's looking flat. yesterday you saw the market was down by 68 points. you saw a big swing through the course of the day. >> like a 1% swing, right? >> yeah. at one point it looked -- we were is the sitting a five-year highs before the market gave back a lot of the gains. >> let's take a look a

he was shot in the closet with the wto p. camera filming him doing local news. it was to be less. the a-list people were still on radio and cronkite started breaking through in this new medium of television. but he recognized if he walked here in washington d.c., people wouldn't remember what he said. they would recognize you. they say would love seeing you, you could've been on a game show, the morning show, the nightly news show, the intellectual substance went away. but people recognize as the visual. you're a celebrity, well known. cronkite always recognized the airtime and that goes back to the top dog of tom brokaw. so he was sometimes kind of filibuster to live events. he also learned how to be quiet. if he was cronkite right cast during john lennon, alan shepard or neil armstrong and apollo 11 but the space program, he would pause. and also, get a theatrical sense. he was suddenly say, golly gee or something no serious person would say. ever much right to be intellectual and he would start talking to what he would not be the hearts and minds of the american people, the ave

law enforcement personnel nor personal destruction, the likes of which we saw in seattle during the wto or in st. paul. we trained hard for this. we have studied the reports of every city that has hosted an event of this magnitude. we know who's coming and we know their tactics. we encourage anyone else to express themselves and we have provided a viewing area that's of "new york times the size of any previous city's efforts? for people the right to protest. we laid out great protests routes that give them close proximity to the forum. it's not our job to address the content of their speech. it's our job to protect the city and make sure there's no harm done to police officers. we are providing water for them. we are providing pull its facilities and misting stations. the vast majority of the people that will be here are good americans who disagree with what's going on inside. it's a very small percentage of those folks who are intent on causing destruction and damage. we will deal with them respectfully but very efficiently. host: let's hear from michelle in tampa, a republican. caller

we want in front of the wto.but the several thousand workers back to work, creating still tight because they didn't have to compete against illegal subsidies and other ways of cheating the chinese had. the same thing happens with rubber tired at the same thing happened with a number of other auto parts. so we should be enforcing our laws and because they're the biggest deficit, they should get special treatment and not any more special scrutiny that we should be giving to anybody else. >> brianne hummels friendly's paper. could you talk about the two political conventions coming up. but for the present of the afl-cio be in tampa. who are the republicans you might want to honor? are there feeler? [inaudible] >> yes, people in north carolina are in a group down there. they've been under attack publicly more intensively than anyplace else other than maybe south carolina, but they're pretty face the group. look, the convention this time time -- i think i might conventions in the past, everything's already pretty much

the president took a case up on steel pipe in front of the wto. we put several thousand workers back to work, creating steel pipe because they didn't have to compete against illegal subsidies and other ways of cheating that the chinese had appeared the same thing happens with rubber tire. the same thing with a number of other auto parts. so we should be enforcing our laws. and because they are the biggest deficits, they should get special treatment, not any more special scrutiny anybody else. >> burned some multi-friend newspapers. could you talk about the two political conventions coming up. but while the president of the afl-cio, who are the republicans you might want to honor? [inaudible] >> yes, people in north carolina have been under attack probably more intensively than anyplace else other than maybe south carolina, but they're pretty face the group and tougher because of the attack. the convention this time -- you think i might conventions in the past, everything is pretty much decided, so i think it's a little anti-climatic for everybody.

nationwide, we have lost 6 million jobs since 2010 and joined the wto. this must stop. we must rebuild our american manufacturing base before we become nothing more than any we did a colony to supply china coast and needs. earlier this year, i was active in responding to heat -- help keep good jobs in minnesota. my union supported an amendment to the proposed construction of the new minnesota vikings football stadium. it requires the stadium be built with 100% american steel. and the steel must be mined from northern minnesota. if all goes well, they will win the super bowl. [laughter] revitalizing american manufacturing should be an urgent national priority. 55,000 factories have closed which resulted in a 6 million jobs lost. factories do not often reopen at their capacity but we do have hope. the u.s. now relies on foreign suppliers from everything from steel, cement, batteries to everyday medical supplies such as antibiotics and penicillin. the resilience risks include not having access to these materials and products, the late delivery times. the edge the democrati

asian why we lost 6 million jobs since 2000 when china joined the wto. this must stop. we must enforce our trade laws, support and rebuild our manufacturing base before we become nothing more than a colony to top is china's needs. while all of the class becomes low income on skilled workforce. earlier this year i was active in responding to help keep good jobs and minnesota. a statewide campaign led by democratic representatives of minnesota and my union supported an amendment to the proposed construction of new -- of a new minnesota vikings stadium. it requires the state be built with 100% american steel, which must be mined from northern minnesota. if all goes well, they will win a super bowl. revitalizing american manufacturing should be an urgent national priority. 55,000 factories have closed which results in the 6 million job loss. factories do not often reopen at their capacity that they were but we have hope. the u.s. now relies on foreign suppliers for everything from steel to cement to batteries and critical high-tech components, to every medical supplies such

nationwide we have lost 6 million jobs since 2000 when china joined the wto. we must enforce our trade laws and rebuild the base before it becomes nothing more than a colony to supply china's needs. when all of the middle class becomes a low in come on skilled work force. earlier this year to try to help keep these jobs in the minnesota. we supported an amendment to the proposed construction of a new minnesota vikings football stadium. it requires it be built with 100% american steel, and the still must be mined from northern minnesota. if all goes well, they will win a super bowl. revitalizing american manufacturing should be an urgent national priority. 55,000 factories have closed which results in 6 million jobs lost. factories do not often reopen at their capacity. but we do have hope. the u.s. relies on foreign suppliers for everything from steel to batteries and critical high-tech components to every day medical supplies. the risks include not having access to the materials and products, delay delivery, and poor quality. i urge the democratic platform co

we want in front of the wto. we put several thousand workers back to work, creating steel pipe because they didn't have to compete against illegal subsidies and other ways of cheating that the chinese had. the same thing happened with rubber tires. the same thing happen with a number of other auto parts. so we should enforcing our laws, and because they are the biggest deficit, they should get special treatment that not necessary anymore special scrutiny than we should be giving to anyone else. >> brian from gannett newspapers. could you talk about the two political conventions that are coming up, what with the presence of the afl-cio be in tampa for the republicans that you might want to honor? are there fewer? and then -- [inaudible] they will be a labor day celebration. [inaudible] >> yes, people in north carolina, they are a pretty feisty group down there. i've been under attack probably more intensively than anyplace else, other than maybe south carolina. but they are pretty feisty group, a pretty tough grou

we won in front of the wto. we created many jobs.he same thing happened with rubber tires. >> all right. >> could you talk about the two political conventions that are coming up? what will the presence of the afl-cio be in tampa? who are the republicans he would like to talk to? [inaudible] >> people in north carolina are pretty feisty. they are pretty tough. the conventions this time are unlike the past. everything is pretty much already decided. i think it is a little anticlimactic for everybody. i think there will be great issues that will be talked about. i think you need to look at those things because i think the platforms of both parties speak volumes about who they are and what they are. you know, we will have labor activity -- i looked yesterday at the labor festivities around the country. there will be constructing in north carolina and some stuff elsewhere. the president will be wherever he will be. we will be participating. this saturday, we have the second bill of rights today. we assessed the democratic chairman and rep