linking east asia, south asia, east africa, and actually west africa as well. africa has lots of natural resources, it's got great agricultural potential, it's got a lot of poverty; it needs to start speeding up which it's doing, but there's a lot of fragility. one should understand also africa will definitely play a larger role in the world simply by the fact of demography; the share of africa in the world's total population and in the world's economy will grow and asia's first to recognise that in a serious way because there's lots of asian investment going into africa right now. that's what's giving africa a lift; i think africa could make a takeoff out ofpoverty. but when you talk about fragility of the natural environment you've got to rank africa wayup there; heat stress, drought vulnerability, loss of vital habitat. africa faces all of those challenges. >>and lastly, since we're in indonesia. you've written a paper; 'the curse of natural resources'. here we are in indonesia; a country full of natural resources. i think you're fairly bullish on indonesia,

asia especially east asia is quite worried about for sure asians in currencies and therefore they are also worried about. their currencies being forced to appreciate because of the crisis since most of these countries have very substantial foreign seems reserves especially china japan and to a lesser extent india and these big scene three services are very much concentrated on the u.s. dollar denominated assets so day they have to think their strategy of investing their foreign exchange reserves but at the moment they can't do much because obviously they are under political and economic pressure not to withdraw from the american capital assets markers to create the temptation of course is to use their heart currencies their research to even invest saw that the in terms of acquisitions of enterprises in terms of acquisitions of our natural resources like oil natural gas. and so on well with all that pressure and from your perspective what's more beneficial for asia and with or without the euro. these countries in the long term certainly would like to have their currencies being accepte

>>asia needs to take the lead; asia says 'us?! why should we take the lead, we're still following, we're still catching up...' but the fact of the matter is; asia is more than half the world's population, asia is incredibly vulnerable to climate change so no chinese leader, or indian leader, or indonesian leader could say 'ah, what difference?' because these are the most crowded countries of the world, there are environmentally vulnerable; they will suffer droughts, they will suffer water stress, they will suffer massive pollution, they will suffer extreme events of massive typhoons and so forth, and they know it. so asia's going to have to take the lead; asian leaders say, 'you know, it's not fair, the us is in per person terms way ahead of us in environmental destruction.' and in fairness, there are absolutely right about that; the united states needs to do more. but we have to understand that you can't use that as an excuse because in the end if we go over the cliff, and everyone says 'woooooooah, we're collapsing, but they sho

we did not think we had the kind of presence in asia, the attention to asia given the economic dynamism and the importance of it to our country. we felt we needed a more targeted and intensified counterterrorism strategy and we went about doing that and the result has been we have really degraded al qaeda. we judged at the end of twhaen al qaeda was in the worst shaped the been in since 2001. we believe we've taken out half the 30 top leaders in al qaeda. and, of course, our action against bin lan was really a stragic blow. and there are other a number of other places we wanted to acknowledge, including nonproliferation, the president's prague speh. those were the key lines of work th we undertook to build the platform on which we believe that we can restore ameri's credibility. and i think we've done that. >> rose: that's my question, how much have you achieved and what would you point to as an indication of success on any of those points >> if you look at it in terms of the rebalancing and achievement of our goals here, we're going to bring our military action in iraq to an end on dec

purely economically it doesn't make much difference to asia. and even a founder of the gloom and doom report thank you for joining us it is my pleasure thank you very much robert. well still to come on the program skeletons in their toes closets while the loans turns a blind dying on the alleged human rights violations by the rebels expert opinion coming up. and the operation to bring the sun conclusive violent garia to the surface of the border river and try to stop its final stage. news international chairman james murdoch has been accused of trying to mislead position pays off to saying he was unaware of the true extent of phone hacking by reporters his testimony was challenge by two former executives to say i was informed three years ago that made legal practice went beyond just one rogue journalist working some of the medium and however denies the accusation and that's the scandal continues to grow critics believe the issue is just the tip of the iceberg in society that no longer values the privacy of the people. as the scandal over phone

political deal over its own debt crisis hillary clinton and tam syria sure the creditor nations of asia that america won't default. the mastermind behind the worst peacetime massacre in all these histories to appear in court to explain why there are doubts when terror attacks that claimed over ninety lines. plus germany makes a one eighty turn in stance on nato intervention in libya and proves a hundred million euro loan to the rebels. this is r.t. coming to you live from moscow ten am in the russian capital on marina joshing thousands of protesters are packing out central madrid angry at the economic woes engulfing spain demonstrators from all across the country have been marching for weeks to demand quick action to deal with the country's debt a mass unemployment rate of those who was in madrid to hear what the protesters now known as indignance have to say. the cash in spain is going mainly down the drain at least that's the opinion of thousands of people who've rallied across the country working we're going to poll in the footsteps of latin american countries like parrot by mexico t

all southeast asia and asia there are a lot of similarities. >> he is a male entity. he is not -- are you referring to the story? >> it's interesting you should say that. a unique indian concept is one of half male, half female. and that is -- unlike some dances the solo dancer portrays all of the parts in the story. you can portray a feminine aspect and then masculine aspect with the bow and arrow. the male has to portray feminine and the female has to portray masculine. there is a very fierce dance and a soft sort of dance and every dancer has to learn all those aspects. it's very, you know, my teacher i call him a guru in this art form you have to study very, very hard. you have to learn about all the cultural aspects. he says it's liberating because he enjoys and has to learn to bring up the feminine aspect. he's a strong character it's a challenge for him and he likes it. the stories are metaphor cal. i don't look at this that this is a man or woman. there are qualities we all have that some of us are in touch with and are not. in our culture we think people shou

, given what we had at stake in asia. it wasn't a mistake by the way or an accident that secretary clinton took her first trip to asia, the first secretary of state to do that since dean rusk in 1961. very importantly working with china as part of our asia strategy, through intensive engagement, which includes engaging directly with them intensively, integrating them into international institutions and norms of dispute resolution and solving problems. and very importantly, setting the regional context through our work to do what we can do ensure a peaceful rise of china an economically and secure asia. >> the "new yorker" had a long article about obama's foreign policy has a quote from an administration official saying we're leading from behind. this has become something of a controversial quote. do you think it accurately characterizes obama's foreign policy? do you wish that senior administration official had not said that to the "new yorker"? >> i don't think it has anything to do with the policy or he's approached his

the rate hike yesterday in china may hamper sentiment in the asia pacific region somewhat. we'll keep track of that and how it affects the nikkei and topix during the day. back to you in the studio. >> all right. good stuff, ramin, thanks a lot. that was our market reporter ramin mellegard from the tokyo stock exchange. and now let's get you a look at some other market figures. ♪ ♪ that's all for now in business news. back to catherine. >> thanks very much, ai. >>> some good news. the operator of the troubled fukushima daiichi nuclear plant says a new cooling system is now working well following a string of problems. tokyo electric power company says it will accelerate the cooling of the plant's reactors in august, a vital step to bringing them under control. tepco says the cooling system has been working almost as planned since the start of this month. the system, which recycles decontaminated radioactive waste water, had struggled to get up and running since its launch in late june. the utility says that with radioactive water still leaking from three reactors it had to l

crisis over the weekend but secretary of state hillary clinton who's in hong kong during a tour of asia says she has no doubt an agreement will be reached before next week's deadline well let's discuss this with economic analyst martin is in on this one and again thank you very much for being here with us in the program so how realistic is this then for the republicans and democrats to to make a deal by the end of next week. frango speaking it doesn't matter whatsoever because the united states is essentially bankrupt in any case if they increase the debt ceiling actually as the chinese rating agency dugong has been saying even if they find an agreement and they increase the debt ceiling well what is going to be as a result more debt so if the u.s. has thirteen point five trillion off dead and that starts the nomination of the budget it's not even the fiscal deborah including all of the unfunded liabilities that the united states government actually keeps of the books and if you include this figure really a looking at two hundred trillion us dollar of it's absolutely beyond control and

and so on but with all that pressure and from your perspective but what's more beneficial for asia and with or without the euro. these countries in the long term certainly would like to have their currencies are being accepted as currencies for international trade settlements especially on the part of japan and china they also want to have their currency used to play a more significant role their international reserve currencies so their weaknesses of your role and to some extent the weaknesses of the u.s. dollar are perceived as opportunities for them to articulate this kind of piedmontese ever seen on the part of china because of the substantial following seems reserves. to invest and hire some vets from the european union in the first place to demonstrate is support for european union to cultivate goodwill and to demonstrate is. your status as a responsible stakeholder internationally but in the broader sense than that how do you think this crisis is going to affect the european union in the future. both this is a major test for european union in key gratian five six years ago a lot

over as number one but do you accept that china becomes the hegemonic power in asia? >> rose: we continue with the question of whether environmental issues are national security issue >> rose: welcome to our program, we begin this eveng wit timothy garton ash, a histoan who talkabouthe global economy and the political winds that are blowing. >> there was a pew pole which asked exactly that question, will china become number one and from memory i think something like one-third of the americans asked said yes it will. so the perception is out there. but what i think is more likely to happen is that in asia chi seek it is hegemonic role and therefore i think the challenge to the united states will not be duly accepted that china takes over as number one but do you accept that china becomes the hegemonic power in asia? >> rose: we continue with the question of whether environmental issues are national security issues with two members of conservation international, they e roger altman and peter seligmann. >> we believe in proof of concept. we believe that it's... you need

as we look across parts of asia, a lot happening there. as you can see, we have a tropical storm, number 11. what we're watching is tropical storm number 10. that moved through parts of the philippines yesterday, left more than two dozen people dead behind it with its path. notice what's happening for the island as well as the coastline. as we go through the next 24 hours, the center of circulation will stay offshore. we see more of the rain coming into the region as we go later tonight, we'll talk about gustier winds. the winds right now, 93. they go up to 111. 24 hours out. then making another landfall, it looks like a third landfall just to the south of hanoi as we go through this weekend. the rain is heavy, this is being indicated by our bar graph here, we're talking some of the southern regions. we can't forget about what's happening in the gulf of mexico. this is tropical storm don. it looks like it will continue to intensify, approaching the texas coastline as we go through friday late in the afternoon as well as into the evening ho

now back to asia. asia is 3.83 billion people. it's not quite but close to 50% of the world population. if we stay on approximately the trajectory that we seem to be on now, this pattern of convergence, they will account for some very large fraction of the absolute amount of growth in the global economy, the absolute amount of growth tripling or quadrupling. of the global economy. and what is happening in asia is that what we think of as global issues, challenging global issues where there are all kinds of free rider problems that relate to natural resources, the environment, climate change and so on, are starting to be internalized. in the big countries like china. because they are such an important part of the incremental pressure, you know, through prices, through consumption, and through growth. that they are starting to realize, and i think this is new, its new there it is new in the global economy, that addressing these issues isn't so much a global issue for them. it's a question of long-term growth strategy is completing t

it is no surprise that china, the philippines, and asia all have conflicting territorial claims. there is a meeting in bali to see if they we can be found to resolve this dispute. i asked how confident the work that there could be agreement on the code of conduct in the south china sea. >> there is an urgency in southeast asia and china that we will have to send a positive signal to the world that china and asia can manage effectively the differences between some of our member states and china. >> while china has agreed with vietnam to try to reach a meaningful solution to these issues, it has been very consistent in its belief that these areas belong to it. how do you plan to persuade all parties to agree to a code of conduct when these issues have not been settled? >> in the final analysis, the claimants will have to settle the differences between themselves. our member states -- the philippines, vietnam, and galatia have complained about some part of the south china sea. we are offering what we call a forum, a process, an opportunity also rides -- for all sides to come to an a

charles, we also saw a sell-off here in asia, asia stock markets are in the red, here's where they ended up, the nisei down by 1.5%, the hang saeng led down by more than 3%, the shanghai composite was positive yesterday, turned negative by 1.75%, and in mumbai, the index there was also down by 1.8%. now all of this on concerns of the european debt crisis, and also financial stocks, banking stocks led the declines across the board there. there was also pressure on property stocks in shanghai with concern that china might continue to tighten monetary policy especially after the inflation figures that came out over the weekend with inflation at 6.4%. charles? >> okay look ahead to the new trading station in the united states, u.s. futures premarket action, losses perhaps not as severe as europe, but that i guess is really what you'd expect off by 1.25% for the dow, 1.5% for the nasdaq and 1.75% for the broader market playing catchup with the selling we've been seeing for a couple sessions now pauline. >> charles, let's look at some deal making right now. the world's biggest coal producer an

and if armed conflict see to me probable, it is somewhere in asia. i mean, look at the south china seas where you have china staking an enormously expensive claim to territorial waters, cutting chinese naval vessels cutting the cables of vietnamese exploration ships. this is only 2011. we ain't seen thing yet. >> rose: so you're suggesting there will be a military conflict probably between china and some other country within... >> se smaller country. >> rose: within the region of influence of asia? >> precisely so. a country in which the united states has an interest. and it might be vietnam. and then the question to washington is what are you going to do about it? >> rose: suppose it's taiwan? >> well, suppose it's taiwan, extly so. fortunately everybody's been thinking about taiwan for a very long time so i think that is probably less likely than a country like vietnam where the stakes are not so clear. >> as you know, henry kissinger and others argue that china has never been an international expansionist power. >> right. >> rose: it has not been

, given what we have at stake in asia.. it wasn't about accident that secretary clinton took her first trip to az yarks the first secretary to do that since dean ross in 1961 and most importantly, or very importantly working with china as part of our asia strategy and through an intensive engagement, which includes engaging directly with them intensively. and setting the regional con text through our work to do what we can to ensure a peaceful rise of china. the new yorker had a long article. and it has a quote from an administration official saying we are leading from behind and this a controversial quote. do you think it accurately characterizes obama's foreign policy? to you wish that senior administration official had not said that to the new yorker. >> i don't think it has anything to do with the obama's foreign policy or the way he approaches his job as the president of the united states. i have -- well, let's put it this way. part of my job is to brief the president every morning and i think i'm now up to 450 of the

how does asia compared to the uk?> asia is not immune from desperate in the work you have rambunctious media, hong kong is a particular example of that, they have their own stories as well. >> what role do it was polite in how the media response? >> you have to look at this example. let's look at hong kong. over the last 15 years, they had a very wild media. they have more than a dozen newspapers. you'll see a similar trajectory of media access, a couple of reaction, and government response. about 15 years ago, hong kong had a huge scandal in which there was a story about a woman who committed suicide by jumping out of a window and taking her young children with her. a few days later, at a very popular newspapers splashed photographs across the page of the way were supposedly not grieving. it turned out that the photographs were staged. there was a huge outcry. the commission recommended very harsh media laws. the media responded by -- >> what time prevents these councils from happening again? >> the media can do some

is a war against america is not south korea they view it as a puppet government of the americas and asia that south korea in the minds of course is still all killed by by american troops there are thirty six to thirty eight thousand us troops but the north korea says it has a western occupation of south korea so yes you start to i really doubt this basic difference is important it's absolutely impossible to even start talking trying to point to the chinese gets even more complicated because china wants the status quo to go on and i would say for ever they don't want korean reunification they see that that korea would be in the stream lead later if it soonish find the north east asia they prefer sayings as they stand at the moment as long as u.s. doesn't have full spectrum dominance ideas of trying to control the yellow sea so you know what you can see that you know there's problems going like that below missiles. are let's not talk more a little more about the u.s. and south korean cooperation which dimensional area and as we know they hold joint military menorahs quite off on a regular

that's asia times correspondent speaking right there where you are with r.t. and on the way why have one when you can have many but a growing number of russian women desperate to tie the knot some are willing to accept being wife number two or even a wife number three. norway's prime minister says his country will remain an open society in time more processions for the victims of friday's twin terrorist attack have been hell throughout the nation over a hundred thousand gathered in the capital to mark the deaths of seventy six people flowers and candles were used to commemorate those massacred in the shooting at an island youth camp and the bombing of a government building in oslo the man who admitted the atrocities has been charged with terrorism a closed court hearing and will be held in isolation for four weeks and as a bearing a pleaded not guilty saying he wanted to save society from an immigrant's invasion david johnson of a.c.m. partners in chicago believes that as your of economic troubles increase so too will the popularity stream of right wing activi

and interest names in asia and debt crisis talks in europe. there's plenty to keep investors pz this week, so let's take a look at wa's on the agenda. we start on monday which is when second quarter earnings season unofficially starts. the dow with alcoa starts first. analysts do expect that alcoa will earn 32 cents a share. and then on tuesday, let's take a look at what's going happen then. the bank on japan wraps up its two-day meeting. analysts expect that the bank of japan will keep interest rates on hold at near zero percent, bank of japan having the lowest interest rates at the moment. then on wednesday, china's second quarter gdp will be released. growth is expected to fall, which is exactly what beijing wants. signs of a slowdown are showing already in the world's second economy. import growth fell to a 20-week low over the weekend and a lot of analysts are saying perhaps the volume of imports are the same as the previous month. it's just that the commodity prices made it look as if the import prices were lower. here's the thing, infla

a slightly sunnier picture in asia was dampened only by poor manufacturing data out of china.o australia, commodities and financial shares took a hit pushing the asx into negative territory. the nikkei ending the day up to the tune of .5%. stronger gain for the kospi in seoul. >>> despite the current optimism, gloom is still hanging over japan's business community. the bank of japan's quarterly survey as business sentiment shows the march 11 earthquake and subsequent tsunami rocked confidence among japanese manufactures. but our anchor tells us now the future looks rather brighter than that. >> reporter: the latest quarterly reading on the business confidence of japan reveals two clear trends. the first is the reaction to the devastating earthquake and tsunami in march and the aftermath of broken supply chains and power shoertages. april to june, business optimism imploded. not since the dark days of the global financial crisis have business leaders felt so negative. it was the first time in five quarters that had happened, and it reflected the full extent of the disruption ca

north east asia they prefer sayings as they stand at the moment and as long as u.s. business full spectrum dominance ideas of trying to control the yellow sea so. you can see that you know there's problems going away like that. and gave it our let's not talk more a little more about the u.s. and south korean cooperation which you mentioned a little earlier and as we know the whole joint military men a risk on a regular basis so in your opinion a lot of thing did. more harm or get. more harm and that's going to be a huge military exercise next month's in fact made almost involving the ends of thousands of south korean troops and computer games and welter of high tech u.s. military technology so what are north koreans doing to preempt what is going to happen in august dear are holding their own military exercises this week in fact and yesterday by the way there was a very significant visit by came showreel and his son probably heir. he's the youngest son the went to the marine corps met in pyongyang yesterday this is something very unusual. will be following this throu

crisis over the weekend but secretary of state hillary clinton who is in hong kong during a tour of asia says she has no doubt an agreement will be reached before next week's deadline economic alice martin had a case says the u.s. is so deep in debt that america's global influence is being undermined. so united states is essentially bankrupt in any case if they increase the debt ceiling actually as the chinese rating agency dugong has been saying even if they find an agreement and they increase the debt ceiling well it's going to be as a result more dead so the u.s. has thirteen point five trillion of debt and that's just the nominal national debt but it's not even the fiscal devan crude analogy unfunded liability is really a looking at two hundred trillion us dollar of it's absolutely beyond control and all dramatically piers that the united states will be facing a sovereign debt crisis and we suggest that the investor should stay out of that region and look for a look for gold silver commodities to help protect against what's going to come there's a lot of talk always in the rest of ou

asia times correspondent. speaking to us earlier well on the way here on r t why have one when you can have many but a growing number of russian women desperate to tie the knot some are willing to be accepted as wife number two more even wife number three. publisher best it is concluded that pilot error actually was to blame for last year's small against plane tragedy because according to media reports the crash in russia claimed the lives of president lech kaczynski and much of the country's political elite also had previously challenge the findings blaming the pilot who carried out its own investigation the plane crashed while trying to land on a russian airfield and poor weather conditions all ninety six people on board were killed and intergovernmental panel found the crew had ignored orders to abandon the landing from russian air traffic controllers the official report of the polish investigative committee is expected to be published before the weekend. it's a quarter past the hour now here in the russian

political deal over its own death crisis hillary clinton attempts to reassure the creditor nations of asia that america won't default the. mastermind behind the worst peacetime massacre in norway's history is to appear in court to explain why he carried out a twins harriet's half a plane over ninety lives. plus germany makes a one eighty turn in his stance on nato's intervention in libya and approves a hundred million euro loan to the rebels. this is r t coming to you live from moscow i'm marina joshua welcome thousands of protesters are packing out central madrid angry out economic woes and golfing space demonstrators from all across the country have been marching for weeks to demand quick action to deal with the country's debt a mass unemployment argues the renegotiate was in madrid to hear what the protesters now known as the indignance have to say. the cash in spain is going mainly down the drain at least that's the opinion of dollars of people who rallied across the country you know like you were going to pose in the footsteps of letting the american countries by mexico. the governmen

monday morning in asia.o you think the market will act if the headlines in the end of the day and tomorrow morning's newspapers are no deal? >> the american people are asking where the jobs and while asia is important this is about american jobs and american economy. if we don't do something seriou about controlling our debt, it is hanging over our entire economy like a wet blanket. that's why i believe taking serious steps toward solving the problem will breed more confidence in your economy and help create jobs here. i will do my best to work with the congressional colleagues and house republican colleagues to put a frame work and remove the wet blanket. >> chris: i want to say this again. frame work out today, you would not do that unless you have democrat buy in? >> i would prefer to have a bipartisan approach to solve the problem. if that is not possible. i and republican colleagues are prepared to move on our own. >> chris: today. >> today. >> chris: cuts now and debt limit early increase next year. >>

francis shows us how he plans to win. >> asia's sin city. the only place in china where gambling is legal. and where we find our new boss. francis leads the galaxy entertainment group, one of only six companies licensed to operate gambling companies. what is your guesstimate? how many people will turn out the first day? >> 60,000. >> francis was born to run galaxy. his family legacy is a multinational property business founded by his father and galaxy's parent company. >> the first job i have is with the family. this is the only job i have in my life. >> francis has worked in the family business for over 30 years. his first job as a site engineer required him to work 12 hours a day, seven days a week. >> i learn a lot of what people actually do in their daily life. i also learn how to be humble. i also learn how to communicate the junior staff of the company. they were all good things to me. a lot of the things thatty do right now actually is something that i learned, i picked up in the younger stage. >> that was then. now he's risen to the