asia and the rest of the world. the other dimension is connecting the past with the present and future. in other words, connecting the historic arts to the contemporary arts of today. for our visitors, we translate our vision into our brand promise, which i want all of you to remember when you leave the building. the past is never static. the past is full of potential for new discovery, new knowledge. our programs are to unlock the great potential of the past, to find a new perspective. to look at the past with today's perspective, today's questions, so that we can learn more from the past. in doing so, we want to inspire the creativity for our program, the creativity that exists within every one of us, to create new conversations, new questions. awaken the past, inspire the next. in doing so, we want to appeal to our lovers and art newbies. in other words, the museum is for everyone. whether you are local or far away. no matter your interest is in asia or elsewhere in the world, everybody has a connection. we want

the backdrop as the escalating arms race in the asia pacific. china's military presence is growing while territorial disputes in the south china sea remain unresolved. that's encouraging regional powers to purchase new military aircraft and upgrade existing fleets. the indian air force is reportedly planning to buy 126 fighter jets from a french manufacturer. indonesia has announced an order for fighter jets from russia and large helicopters from europe. uniformed officers wander the venue exchanging information with sales people. >> the economy's good. i think for us it's important to update or modernize the equipment. as you probably know indonesia has not been doing that for over 20 years. >> reporter: this is the aircraft japan recently decided to adopt as its next generation mainstay fighter jet. the f-30 built by lock heed martin. after declaring the asia pacific region as the focus of its defense strategy, the u.s. is pressing regional allies to introduce the fighter. sales people are eager to seize the opportunity. >> the asian market is

the question is how will asia be effective? we have enough going on here within asia that we cannot deny the impact that we should keep our eyes on the economy, unemployment, on our own fiscal austerity programs. we have to be spending on the more productive sectors of the economy. >> thank you for that. in other news comes at the mexican army says they have seized 15 tons of methamphetamine in the western state of jalisco. this is the largest amount ever seized in mexico. they also seized equipment but no arrests were made. >> mexican soldiers stand guard over one of the largest drug hauls in the country's history. in this house, they found a drug laboratory with a barrel after barrel of white and yellow powder. all of this is part of a drug stockpile of a street value of around $4 billion. >> we found the lab thanks to an anonymous tipoff for which we think the population. also, to our own patrols. >> so far, there is no information on the final destination of these drugs or even who might be behind them. some officials think

power in the asia pacific and south china sea, where u.s. carriers are now vulnerable to being increasingly impressive technology, chinese ballistics and so forth. so it's a very complex picture. can you started out as a bit quiet and do you address it in your boat. >> guest: let me first of all say what i do thing an american engagement in the far east, across the pacific is a natural thing for us to undertake. i do not think the way to define it as somehow to related significance for us to the decline in military will of the united states and southwest asia, specifically afghanistan and iraq. i don't think it's particularly perfect over persuasive to announce we will deploy 500 marines. i think that is frankly on the verge of absurdity. what it implies a larger sense i also disagree with because it would imply we are going to do in asia what we did in europe. in our earlier discussion i do the difference between what we have to do in europe with what is today needs to the far east because we are not going to dominate the far east. we don't

this ensures security in south asia. india and the united states have strong incentives to cooperate on counter terrorism in the region and beyond. we share concerns about the stability of afghanistan and pakistan and the growing military capabilities of china. energy cooperation should be at the top of our agenda. india's energy need is expected to double by the year 2025. the united states has been an interest in expanding energy cooperation with india, to develop new technologies and address environmental problems and diversify global energy supplies. the united states's own energy problems will be made worse if we do not forge partnerships with india and other nations expanding rapid economic growth. 2008, the united states concluded the civil nuclear cooperation agreement with india. the legislation lifted a moratorium on nuclear trade with india and open toded the door i trade of high technology items such as super computers and fiber optics. this is remaining important to the relationship. but in the narrower cont

we have patriot battalions forward deployed in the asia-pacific region. and we have tactical operations, strategic radars that are being deployed into the region to continue to supplement the current air and missile defense capabilities that we have. we are very focused on foreign missile defense capability in our key theaters, both asia-pacific and other areas to include the middle east. and we will continue to do and fund that. and we have the capability to do that. we have the forestructure to do that. so i feel confident that we'll continue to be involved with that. i would also say there is many other roles that the army can play in anti-access capabilities as we look at ground opportunities for entry and for other things, and our ability because of the large influence that the armies have in the pacific region, we can help to develop systems and capabilities, multilateral systems and capabilities that would help news our anti-access campaign. so i think in the joint operational access capability assessment that the joint staff is doing, the army wil

especially towards the asia pacific region. as you stated and i quote, "the future of politics will be decided in asia, not in afghanistan or iraq." and the united states will will be right at the center of the action.efforts, i believe the united states will be front and center. so i thank you for bucking tradition for your first trip overseas. on your first trip overseas, you visited asia to convey a strong message that america's relationship across the asia pacific region are indispensable. and in your many trips since then from vietnam to cambodia, to meyanmar and japan and beyon, you're about the business of making and keeping commitments that will pay dividends many times over. a plaud you for recognizing the importance of the pacific island nations in this multifaceted undertaking and that the context of this hearing to the foreign relations budget, i reiterate what you have stated. i quote, those who say that we can no longer afford to engage with the world have it backwards. we cannot afford not to. from opening new ma

this event is the largest of its kind in asia. for the exhibitors hoping to expand business in east asia, they feel it is a good opportunity to make contact with buyers from mainland china. >> translator: my main purpose is to find cooperation opportunities with some brands from hong kong or from europe, south korea or japan. >> reporter: the trade organizer aims to raise hong kong's reputation as the center for fashion design while the mainland stays as a production center. >> if we can attract international brands into hong kong, we can have some kind of cooperation to join this big house, design house, to train our designers and make them more mature. >> reporter: international customers and brands are helping hong kong gain an edge on becoming a major city for fashion. jaymee ng, nhk world, hong kong. >>> government forces in syria renewed their attacks on the city of homs. demonstrators there have been at the forefront of wide spread protests against president bashar al-assad. government troops seem intent on crushing the mov

>> we fundamentally think that it's good that america is interested in asia and in the asia-pacific region. and since the second world war, it's been a tremendous benign influence. it's provided peace, stability and predictability and enabled all the countries to profit including china. i think it's good that the u.s. continues to take a close interest in the region, not only to security issues but economic issues and cultural and on a broad range of areas. but it cannot be for a few months at a time in a spasmodic style, really over many administrations and decades. and america has got many preoccupations around the world, so we hope on your busy plate, asia doesn't fall off the edge. but we are naturally very happy that president obama and hillary clinton have made the effort and have put asia quite high on their agenda. we hope it will be sustained. >> is there any prospect of american troops in singapore? >> we don't have -- well, we actually have american -- we actually host facilities in singapore and american ships and aircraft stop by from time to time and use those facilities. tha

>> we fund mentally think it's good that america is interested in asia and in the asia pacific region their presence since the second world war has been a tremendous benign influence. it's generated peace, stability, predictability, and enabled all the countries to prosper, including china, and i think it's good that america continues to take a close interest in the region. not just on security issues, but also economic issues and cultural and on a broad range of areas, but it cannot be for a few months at a time in a spazmodic style. it has to be sustained over a long period of time, really over many administrations and decades. america has got many preoccupations around the world, so we hope on your busy plate, asia doesn't fall off the edge. but we are naturally very happy that president obama and hillary clinton have made the effort and have put asia quite high on their agenda. we hope it will be sustained. >> american troops -- >> from having a naval base. >> and a naval base would be a bridge too far? >> a naval base would be twice as big as singapore. it can't be done. >> you'v

depense strategy in the asia-pacific region. this arms buildup could trigger tensions with neighboring countries, so the international community needs to keep a eye on russia's movements on the islands. >>> "newsline" is the place to turn to for the latest on japan post-march 11th. we have two segments offering two unique perspectives on the fallout from the earthquake and tsunami. "nuclear watch" brings you insight and information on the impact of the fukushima daiichi crisis. and "the road ahead" examines japan's efforts to rebuild. don't miss "nuclear watch" and "the road ahead" on "newsline." >>> another search operation has gotten under way in the tsunami devastated city of ishinomaki in northern japan. it's the first time such an intensive search has been carried out on the fuj ga wa river. the search was organized after the parents of four missing children made the request. heavy machinery moved in to action and removed the debris. the river had been dammed and drained of water. of the 108 students in the school, 70 died

japan launched the experimental scheme in 2010, the first of its kind in asia. so far, nine families from myanmar totaling 45 refugees have resettled in japan. the japanese government have planned to accept 90 people over three years. but the number of applicants has fallen short. >> translator: there is a need to give refugees better information about the japanese-run program. we also need to work with other entities like our embassy in thailand and the unhcr to enhance refugees' understanding of japanese culture and society. >> reporter: last month the government of myanmar agreed to a cease fire with ethnic rebel forces after more than 60 years of conflict. such developments are giving some refugees encouragement about returning home. japan also faces challenges to better support refugees from myanmar who choose to resettle. some have struggled with culture and language barriers when they get to japan. the japanese government says it would decide by the end of march whether or not to continue the resettlement program. >> that wraps our bulletin. >>> before th

he's in asia to declare the city open for business. i spoke to him earlier today about the city's future and asked why it would be attractive to foreign investors. >> the scale of demolition and reconstruction in the heart of christchurch city is something unprecedented in western cities since the second world war. it's massive. i'm talking way over 50% in the core of the christchurch cbd that will be replaced, whole blocks completely clear felled. and we have a chance to build something utterly unique. we had a 19th-century city, which was a response to the reformist thinking back in the 1800s. >> so, what are you going to do? >> we're going to build a 21st-century city, a sustainable city, a green city, if you like. the writing is on the wall for that, looking at the impacts of the cost of energy, looking at how we treat the environment that we're in, the sustainable materials, looking at our carbon footprint and creating a new city that will resonate in the new century, particularly with young people. >> there's been a lot of discor

the factory will be a center for exports to southeast asia in the mideast. but the competition is already heating up. european, u.s., and south korean auto makers are dominant in china and other emerging markets. an expect says foreign rivals can turn their country's relatively weak currencies into a competitive advantage. >> japanese seem to be losing market share to the germans in. the mid size section japanese are losing market share to recovering u.s. big three and then in the compact vehicle or small cars japanese are now losing market share to the koreans. so all three competitors are gaining some market share at the expense of the japanese partly because of the strong yen. >> reporter: with the yen continuing to trade at historic highs, the value of the japanese currency could remain toyota's biggest hurdle in 2012. >> japan's economy is sending upbeat signals. the government says the impact of thailand's floods is largely gone and pushing up key economic indicators. the cabinet office said on tuesday that the index of the economy climbed 2.9 points i

let's begin with east asia. a large high pressure system is dominating much of china, bringing dry conditions. but snowshowers will remain in the inland sections throughout today. and across southern china, it's mostly dry at the moment. but showers will develop in the next 24 hours. and across japan, cold air continues to sweep in to the country, bringing sea-effect snow on the western side. we are expecting an additional 60 centimeters in northern japan, and 70 in niigata prefecture. and winds are picking up. so that is causing blowing snow conditions. the risk of avalanches and falling snow are extremely high here. as for the rest of the area, snow in western portions will remain into -- throughout today, an additional 40 centimeters are possible. but that will ease over the course of today. so that's good news. as for the tokyo area, it will stay largely dry and highs will be rising to 7 degrees. but still 3 degrees lower than the average. in seoul, remainin below the freezing mark, minus 1 degrees expected.

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

exposure to emerging markets, to asia.oca-cola, swatch, things that can offset higher prices with higher margins and those are the companies who have a lot of cash. and the themes playing generally are the ones of the last months. the west is stagnating. you need more consumer buying to offset the current account. >> good to have you on today, patrick, interest armstrong investment managers. we still have over an hour to go. mr. shactman joins us this morning. good morning, brian. >>> hey, guys, forget about the global financial markets. let's talk about global star fest in hollywood. the 84th academy awards last night. meryl streep won her first since 1982. she portrayed margaret thatcher in "the iron lady." but the night belonged to "the artist." the black and white silent movie won five including best director, best actor for jean dujardin and best picture. stay tuned. we'll go out live actually to los angeles in about 30 minutes and ask how much of an impact an oscar win has on box office and dvd and download sales. >>

this includes efforts to insure security in south asia. india and the united states have strong incentives to cooperate on counterterrorism in the region and beyond. we also share concerns about the stability of afghanistan and pakistan and a growing military capability of china. energy cooperation between the united states and india should also be at the top of our bilateral agenda. india's energy needs are expected to double by the year 2025. the united states has an interest in expanding energy cooperation with india to develop new technologies, cushion supply disruptions, address environmental problems and diversify global energy supplies. the united states' own energy problems would be exacerbated if we do not forge partnerships with india and other nations experiencing rapid economic growth. 2008 the united states concluded the civil nuclear cooperation agreement with india. it lifted a three-decade moratorium on nuclear trade with india and opened the door for trade and a wide range of other high technology items such as supercomput

. >>> the largest aviation fair in asia. they've put their most up to date models of fighter jets and civilian aircraft on display in singapore. a record 900 companies and organizations from more than 50 companies are taking part in the air show. 65 airplanes are on view including the boeing 787, the airmaker's latest model. an unmanned drone is displayed for the first time from asia. military officials from the region are sharing information with representatives of aircraft manufacturers. india and other asian countries are buying more fighter planes in reaction to china's military buildup and territorial disputes in the south china sea. lockheed martin's f-35 stealth fighter is still under development but that plane, too, is on show. u.s. military leaders shifted military resources toward the asia pacific. they're urging countries in the region to introduce the jet. >>> china's defense minister says he hopes china and japan can cooperate on more defense exchanges. a groupf officers met in beijing from japan's self-defense

military assets, part of what washington calls a strategic pivot towards asia. >> this is an integrated strategy, security, diplomacy, economics, even human rights covering asia from anthony -- india to tokyo and the chinese are nervous about it. >> outside the talks, reminder that wherever china go, controversy follows. they were here for tibet, taiwan and human rights. the protestors are a feature of every chinese visit here, yet another sign of just how complex this relationship is. this year, there is an extra factor in play, u.s. presidential elections, because china has become a political football. a currency manipulate. >> listen to mitt romney, front runner in the republican race. >> they are artificially lowering their prices and killing american jobs. we can't sit back and let china run all over us. >> this ad by republican running for the senate crudely mocks the loss of jobs to china. >> your economy get very weak, ours get very good. we take your jobs. >> this is the story barack obama wants to tell on jobs -- newly hired american workers making gods sell to china, here at

that's in a bid to prevent europe's debt problems from spreading further to asia. these concerns are more immediate in europe. the ruling coalition parties in greece failed to agree on an austerity plan, a precondition for additional aid from the eu. a large number of greek government bonds will mature next month. a default seems inevitable unless they receive more aid from the european union. the prime minister was scheduled to meet with the leaders of the coalition parties to discuss whether to accept the conditions. however, the meeting has been postponed to tuesday. labor unions plan to strike and stage protests on wage cuts that are included in the austerity plan. meanwhile, french president nicolas sarkozy and the german chancellor stressed urgency of the situation. >> translator: time is running out. it is just a matterdays. we need a conclusion. >>> romania's prime minister is stepping down. emil boc made the announcement today. he announced he was stepping down to ease political and social tension. romania imposed spending cuts as part of a deal for 20 bil

the un security council regarding basically what's going on in the middle east the south east west asia syria and iran and soon there are going to be more debates about northern africa and again the rest of the middle east so there is a will i say since entering the u.s. and nato on one side inside the security council and the bric the two major brics countries russia and china on the other side so this is going to be really really have you within the next few years there's no question about it i know that you are sorry i know that you are in. the fans as we speak right now and you are in asia times correspondent carries to see how they are covering this story over there . well look at that island he's very very close to china as well they have they are very close they have a very close u.s. allies also states of course but don't forget that the ruling elite here in thailand is seen will die basically this doesn't mean there is a fifth column here in thailand or you need to nizo or in the philippines or in malaysia for that matter chinese know but this means that the giselle says stage

rising powers in asia are testing international rules and international relationships. and there are growing concerns about cyberintrusions and cyberattacks. to meet these threats, protect our nation and our people, and at the same time, meet our responsibility to fiscal discipline. this is not an easy task. it's a tough challenge. to build the force we need for the future, what we decided to do is to develop a new strategic guidance that consists of the following five key elements. number one, the military will be smaller and it will be leaner. but it should be agile and it should be flexible, ready to deploy quickly and technologically advanced. second, we have to rebalance our global posture and presence to emphasize asia pacific and the middle east. these are the areas of greatest concern in the future. third, for the rest of the world, we need to build innovative partnerships and strengthen key alliances and key partnerships from europe to latin america to africa. fourth, we'll ensure that we have the capability to quickly confront and defeat aggression from any ad

come back from other middle east and south asia and i think we'll have to bring the troops home from europe you were writing and speaking out extensively about the bush era in iraq crusade under the banner of ending terror name in the world do you think that crusade is still long or the idea that we're going to end tyranny in the world is utterly utopian we never are we've had tyrants from time immemorial and what the united states should do in my judgment in its foreign policies is build a defense establishment strong enough to protect our vital interests and our vital allies and when problems arise whether it's in zimbabwe or somewhere else the people there have got to deal with their own prob. there's no doubt about it that throughout history tyrants have arisen and seized power in one place or another and as long as they don't threaten our vital interests or threaten and kill our people the fact that they rule and or misrule certain countries is none of our business while some of bin laden successor said he supports the war against us and sorry i am and it was for quite a leap be

the new strategy emphasizes the asia pacific and middle east regions. we'll continue to meet our commitments in europe and other partnerships but we'll look for innovative ways to sustain our influence. the new strategy require ares a balanced risk by making difficult choices. we protect readiness, accept a smaller high quality force and focus our investments on key modernization programs. finally, as always, we continue to take care of our most important resource, our people. next slide, please. although the environment and strategy has changed and during contributions the air force has provided the joint fight will remain. next slide, please. our fy-13 budget decisions reflect a difficult choice we've made to align with the new strategy. these decisions reflect a balanced approach across five broad themes. we've rebalanced our forestructure to maximize our capabilities and responsiveness. we've reserved readiness by reflecting fine hours. the fleet of over 5200 aircraft by continuing to reduce the cost of operations wherever possible. in the area of m

defense strategy focussing on the asia pacific region. this arms build up could trigger tensions with a neighboring countries. so the international community needs to keep a close eye on russia's movements on the islands. >> time to check out some of the stories we gathered from broadcasters from asia. we're going to begin tonight with this item sent by tvm macau. police in macau raided an upscale hotel after receiving a tip that a criminal ring was operating a fake casino. 60 men and women were arrested. all except one are from mainland china. more than $12 million of fake casino chips were recovered. police say the group rented rooms at expensive hotels and turned them into gambling dens targeting customers from mainland. gamblers were drugged with tran quillizers. some are said to have lost hundreds of thousands of dollars. malaysian state owned oil company have discovered two major gas deposits in the south china sea. it made the finds last september and november. the first well was discovered after drilling to a depth of 3,200 meters

asia from india to tokyo.he chinese are nervous about it. >> outside the talks, of local reminders that were ever china goes controversy follows. and they were here for tibet, taiwan and human rights. the protesters are a sign of how complex this relationship is. this year, there is an extra factor -- the u.s. presidential election. because china has become a political football they are a currency manipulator. >> listen to mitt romney, the front runner in the republican race. >> they are lowering their prices and killing american jobs. we cannot sit back and let china run all over us. >> he mocked the loss of jobs ot to china. >> your economy gets a very weak, hours get very good. we take your jobs. >> this is the story barack obama wants to tell on jobs -- newly hired american workers making goods to sell to china. year ended chopsticks factory and georgia. except the machines they use are imported from china. trade is far from a balanced relationship. >> joining me now for talking about the visit of xi jinpi

and growth is only focused on the middle east, latin america, and asia. the bulk of the weakness is in europe and also in the united states where we have significant structural trends of declining demand. on the supply side, we had a very disappointing year last year, because we had obviously the problem is in libya, but we also had a number of problems during the summers, which we all believe are one off and not recurring. a lot of supply and new project coming online, mostly from the u.s. canada, and russia. we don't believe actually brazil will be able to add a lot of barrels this year. there is one uncertainty that we haven't talked about, which is iraq. baghdad maintains an optimistic outlook on production growth of around 500,000 to 600,000 barrel per day in 2012. in our view, the iraqi government forecast is over optimistic, given the security condition on the ground. we also have to remember we're basically lost two small countries in the recent months from production sudan, recently, syria, a couple months ago. we might still have problems in lib

is the return to asia refocusing its military and security deployment in the middle east in asia pacific targeting china and iran as the primary security concerns now at the regional level the philippines also see that there's a reason changes in the regional politics particularly in taiwan where mr my into your and to call restriction was successful we were elected there means beijing and taipei would have more stable relationship expression in terms of economic integration across the strait in the coming years and the footprints knows that the u.s. would need a more reliable ally in the asia pacific region so the philippines is reeling to lend its hands to it to the american for that kind of particular security concern that u.s. is having in the asia pacific region i have already not just there's tremendous pressure from the public opinion within china. urging the chinese government to top up for a tough position of towards the philippines however i think the chinese government should be a bit more. internal demand so i think the philippines is all doing that to try to get the best int

. >> we'll have the latest from asia and how market traders will react to the latest development. and we're live in brussels where they are expected to outline how the multibillion euro deal will be structured for private and public lenders. it is 12:00 in the afternoon in singapore. >> it is 4:00 in the morning in london. broadcasting to america and around the world. welcome to "newsday." >> a warm welcome to you. we bring you the latest news. reports from brussels say eurozone finance ministered have reached an agreement. the deal came after talks that went late into the night lasting almost 12 hours are said to be worth 130 billion euros. in return, greece will undertake to reduce its debts to no more than 121% of its g.d.p. this is scene live we have been watching for the last few hours or so. we are expecting the eurozone finance ministers to gather and give us further details on the announcement of the plan that was agreed within the last hour or so. we will of course bring you the latest as soon as that happens. as daniel griffith catches us up and keeps us up to date. >> f

as we commit to the asia pacific will other parts of the world be neglected? by shifting away from the foresighting the ground forces for large scale operations, are we turning our back on the hard-fought lessons of the last decade? and most important of all by slowing the historic post 911 military spending as congress required us to do, are we signaling somehow that we are entering a period of american global en trtrenchment and retr from the world? as i mentioned earlier, the new strategy to sustain global leadership was quite deliberate. we are retaining full capability to confront more than one aggressor anywhere in the world even if we are engaged. in large scale operations we will be quickly to identify the objectives of an opportunistic adversary and impose acceptable costs in another theatre of the world. even as we rebalance the posture toward asia pacific and continue to place a premium on the presence in the middle east, we will uphold the nato commitments, including through new rotational deployments of additional ground nato forces announced by s

defense strategy which places importance on the asia pacific region. the brief adds it wants to boost military operations. it concludes that chinese policy could move in one of two directions. the country could pursue a hard line stance or use its growing power for stability with international partners. >>> russia has defended an incident in which the war planes flew close to japanese air space. the planes were practicing patrolling and aerial refuelling. five airplanes were spotted on wednesday near japanese air space. japanese's self-defense force took to the air and responded. an a-50 aircraft has an early ash warning control system. japan's ministry said it is the first time the airplane has flown near japan. russia's defense ministry said their planes flew over the pacific north of the peligo, but did not interfere with the air space. >>> let's go to sayaka mori with the world's weather picture. >> hello. time now for your weather update. let's begin with east asia. thundershowers will raise the risk of flooding and land slides. it will be a great

third, asia-pacific, we fund ship repair at 100% which we know is 80% of what it needs. ships going out not close of being capable what they need to be doing. it looked like we cut seven cruisers. meaning you cut seven cruisers so that you can -- we don't want to have to fix the things that are expensive to fix so we just let them go. that's what's happening here. navy refuses to down select on the lcs. that's congress' problem as well as dod's in my opinion. we should be able to at least down select on an lcs. i don't care which one it is. you can't train for the same class you're training different sailors to work on two different ships, different logistical tale, different modules or same modules but different command decks inside, you're going to have sailors trained for two totally different things, and lastly, something that i noticed, the joint light tactical vehicle, you'll have contracts go out in june of this year, ford came to us and said, hey, if you prolong this a year, ford will get involved and save you hundreds of millions of dollars and we said no. there

are critical to our nation's -- most critical to our nation's future and that meant refocusing on asia, the most dynamic region of the global economy. >> [interpreter] >> and to state the obvious, the u.s.-china relationship is a critical component of our broader asian strategy. our people, both american and chinese, are in deep people -- quite frankly, people all of around the world will benefit from this mutual effort to build a more copper to partnership between our countries. >> [interpreter] >> i first visited china in 1979. and the prosperity achieved since then, which i saw as recently as this past august, is, as all of you know who have visited thomas bunning, absolutely stunning. >> [interpreter] >> few other nations in history have come so far so fast. and it is a great credit to the talent and industriousness of the chinese people. >> [interpreter] >> but i respectfully suggest that this remarkable growth did not occur in a vacuum. it was cultivated at every turn by an international system that enables rapid development grounded in rules that apply with equal measure to all

not only asia, but also a lot of european countries have been dealing with frigid temperatures. very large high pressure system continues to pull a lot of cold air from the north. so warnings for extreme low temperatures have been issued for many areas, and the cold air is colliding with warmer air from the south so we are looking at a lot of unsettled conditions to the south. in italy, heavy snow in the northern section and a thunderstorm in the southern areas will continue out today and we have a very active low pressure system that is moving into the balkan peninsula and bring in breezier conditions and some of them is moving into the western portion of turkey. here are the highs on thursday. we being see lots of blue and purple indicating sub-zero figures minus 15 degrees in moscow and minus 20 in kiev and in paris, highs will dip into the freezing mark and remember, these are the highs. so morning lows are going to be much colder than that and those frigid, cold temperatures will continue into the weekend so do bundle up. here is your extended forecast. >> as we've been rep

is it middle eastern money, asia? >> maria, it's all over the globe.vily middle east, no question about that. it's also eastern europe. far eastern europe. it's really -- there's no specific area. but clearly investment capital is seeking its home here in america. and the prime location for that capital is the city of new york. >> do you worry, though, a moment ago you said prices were off the charts. do you worry we're headed toward a situation like in the past, where prices were unsustainable, and we get into boubl-like territory? >> you only get into a boubl-like territory when you have a huge oversupply. so i don't see that happening in this instance. i think you have stability. certainly for the next several years. and i don't see that happening. >> what metrics do you watch? to see whether or not this momentum continues? >> just watch the flow. watch the flow of capital, watch the pricing for these buildings. watch who's bidding for what. and it's a fascination. but it's very exciting. and clearly, it's an indication of the fact that we have grea

here in asia green across the screen as you can tell. lots of people are more optimistic about the global economy. we had better economic data from the u.s. and a batch of stronger pmi. so that spurred some risk taking across the region today. the shanghai market of financials were clearly in play. we had a report that said that the dividend payout will be cut easing some of the capital constraints over in china and that pushed the shanghai composite up almost 2%. chinese financials listed in hong kong also saw a rally and that pushed the hang seng up 2% as well, moving above the 200 day moving average, 20,739. yesterday we were talking about the key 20,000 level. now clearly above that. the nikkei 225 earnings continue to be in focus. we had sharp and sony announcing losses, the new ceo for the company, we'll be talking about that as well. the kospi up. people are buying into the south korean market. extending gains as well. new zealand up 0.54. india 0.7% so overall a pretty decent session here in asia. a lot of risk appetite is pickin

charles, here in the asia pack region, another lackluster day on the markets.nvestors in japan took some heart from the weaker yen in hopes of a boost to the the european rescue fund from the japanese government. as we heard earlier in newscast, the japanese government is considering contributing. big exporters including sharp and nintendo ended the separation up around 3% to 4% mainly because of the weaker yen today. elsewhere there was caution in the air. take a look at the board. financials in hong kong and exporters in south korea both suffered on global economic uncertainty as we learned yesterday from andrew in seoul, south korea yesterday. what's happening globally certainly is reflected in concerns here in south korea. so we saw some of that. the main aussie benchmark was largely flat amid a political showdown in the labor party with prime minister gillard calling for a leadership ballot on monday. charles? >>> lingering questions about the greek bailout had u.s. investors playing it safe on wednesday with news from the housing market also mixed. invest

second, we have to rebce presen emphasize asia middle east. these are the areas of concern in the future. third, for the rest of the world, we innovative partnerships and ally partnerships from europe tori. fourth, we'll ensure that we have the capability to quickly confront andef from any adversary any time anywhere. and fifth, this can't just be about cuts. it has to be about investments. what do we protect and prioritize in terms of investments, in technology and new capabilities? as well as our capacity to grow, adapt and mobilize as needed? while sharing this strategy and shaping this strategy, we didn't want to make this mistakes of the pas the drawdowns there have been serious mistakes that have been made. our goal is strongest military in the world. to not hollow out the force, that's extremely force. to not hollow out the force which means to maintain a lors force structure and cut training and equipment and all the other things that are essential, to make that a first-rate force. thirdly, to take a balanced approach to budget cuts. p

in asia we are pursuing what i call forward deployed diplomacy. strengthening our alliances and launching new dialogues and economic initiatives, creating and joining important multilateral institutions, even pursuing a possible opening with burma all of which underscores america will remain a pacific power. third, we're focused on the wave of change sweeping the arab world. alongside our bilateral and securities support, we are proposed a $770 million middle east and north africa incentive fund. this fund will support credible proposals validated by rigorous analysis and by congress from countries that make a meaningful commitment to democratic change, effectively institutions and broad-based economic growth. in an unpredictable time it lets us respond to unanticipated needs in a way na reflects both our agility and our leadership in the region. it this budget request would also allow us to help the syrian people survive a brutal assault and plan for a future without assad. it continues our assistance for civil society and arab partners in jordan

this isn't so much about demand from asia as much as it is about demand from outside asia, specificallyhe united states and europe. in fact, europe accounts for a full 30% of all china's exports, and its debt drama that's led to a decrease in asian electronics and clothes. the international air transport association says it expects absolutely no growth for cargo traffic for the rest of this year. and cathay pacific ceo john s s slosser says he doesn't see it being up until at least the second half. that's bad for cathay pacific. they're looking to boost passenger yields while also holding off on purchases. they're not purchasing two freighters until 2013. none of this is good news for china's exporters who rely on cargo just like this just for growth for their factories. >>> we're going to take a quick break. "world business today" will be back right after this. whwhatat m makakeses t e slsleeeep p nunumbmberer s sto? yoyou u wawalklk i intna coconvnvenentitiononalal ms ststorore,e, i it't's s ry nonot t ababouout t yoy. ththeyey s sayay, , "w"weleu wawantnt a a f firirm m bebn lilie e

that is to say asia, plus southwest asia, to the east, india, pakistan, bangladesh. a lot of people. >> not such a huge area to the west. those communities are large as well. how do you draw the dividing lines? who is in it? who is out of it? who is in between? >> at one point in your book you suggest a strategic vision -- strategic division, and it is always interesting to see your take on the world. that down the road, the west should include russia and turkey. >> absolutely. in different way, they are increasingly partaking in the democratic condition -- tradition. pervasively so, they are a democracy, and have been in cage as such for the last 100 years. they were invited some 50 years ago to join the european union. in the case of russia, it is more ambivalent as an empire. it certainly has not had a deep, democratic and -- tradition. there are increasing signals that russian society is changing. i am relatively confident that the democratic forces in russia will be dominant. it would make the west bigger, more resource full and interesting. >> also, tipping the

iran personally exports around 2.5 million barrels a day of crude oil with 65% going to asia and 30% into europe, mostly to refiners around the mediterranean. a significant portion of the 1.3 million barrels per day of iranian crude imported by iea countries, which include some countries in asia like japan and korea, anyway, increasing a significant portion is likely to be affected by these measures, even if refiners will have until june or july to source alternative barrels, most are already looking for incremental supplies from outside iran, which is exactly the intent of the sanctions. in terms of crude quality, buyers are likely to seek extra barrels from saudi arabia, russia or iraq to make up for lost sales from iran. saudi arabia has publicly reassured customers it will meet their requirement, analysts raised questions over the kingdom's spare capacity, the pro torgs of arab medium and the kingdom's logical -- logistical flexibility to reorient its exports to european refiners. ultimately refiners denied the ability to import iranian oil will most likely find the extra barrels