the body is formed by 13 countries such as the members of the association of southeast asian nations as well as japan, chi nab and south korea. in the wake of the asian monetary crisis in 1997, the 13 countries established a multilateral currency swap arrangement in order to make funds available to debt strapped nations during periods of financial turmoil. amro analyzes economic data and decide whether or not to implement currency swaps. it also has the right to advice members about accepting imf improvement plan if it says any problems in the financial or monetary policies. however, the u.s. usa was uneasy with the idea of asia having its own monetary supervising body and tried to discourage the establishment. meanwhile, japan and china battled for its leadership. amro finally began operations in 2011 more than a decade after the plan was created. the former executive of china's central bank now the director of amro expressed a strong sense of caution about europe's present financial situation. >> the urgency to reach our consensus cannot be overemphasized in order to strengthen the

by region, exports to the ten-member association of the southeast asian nations grew 35% from a year earlier and to china by 16%. exports to japan increased by 41%, with sales of smartphones and other mobile phones nearly doubling from the previous year's figure.exportof petroleu products ao rose after the march earthquake and tsunami. the trade deficit with japan dropped to $27.7 billion, down $8 billion from the year before. >>> some adventurous athletes took on the himalayas in a marathon run and trek event on sunday. 165 people from 25 countries showed up for the race in nepal. that was the largest number of competitors since the event was introduced in 1995. it was the sixth running of the event. participants ran courses stretching 50, 70 or 100 kilometers. those taking part in either of the longer events reached an altitude of over 3,000 meters above sea level. that's more than 2,000 meters higher than the starting line. the weather added to the racers' hardships with rain falling at the starting line that turned to snow as they climbed the treks. one japanese man explained his

his tenacious squad became the first asian nation to win a soccer world cup. he expressed his gratitude for the support japan received after the disaster last year. he said that the team e gave strength and encouragement to the japanese people. it was the first time a japanese player or coach has won a fifa title. >>> argentina's lionel messi won as the world's best footballer for the third straight year. >>> you can kick the ball around here in tokyo but you would be cold. let's go get the world weather picture. >>> welcome to your weather update. let's look at conditions in asia. things are looking relatively dry across china as well as the korean peninsula. we have this low in these areas but that's not developing a whole lot. you can see it stays very light at most. now for japan, we're talking about quite a bit of drier weather today but as we head into the evening and on into wednesday you can see a little more precipitation starts developing along the western flank, more moisture coming in off the sea of japan, so you do want to watch out for another ro

. >>> southeast asian nations are stepping up their maritime defense amid simmering territorial disputes with china. vietnam reached a milestone this week by launching its first domestically produced war ship. the vietnamese navy took ownership of the combat vessel on monday. state media proudly gave details of its state of the art artillery and missile systems with an operation range of about 4,600 kilometers. the vessel was built by a military run company. authorities say the ship will be used to patrol the country's territorial waters. vietnam follows the philippines which also has an ongoing dispute with china. the philippines acquired a large secondhand warship last summer from the united states. >>> and next, to thailand where last year's massive floods ruined factories and cut global supply chains. ceos from some of the affected companies have been gathering here in bangkok this week to share strategies for getting back to business. but as nhk world reports they face some tough decisions. >> reporter: companies with factories in thailand are gathering right now. they are discussin

his squad became the first asian nation to win a soccer world cup. he expressed gratitude for the support japan received after the disaster last year. he said the team gave strength and encouragement to the japanese people. it was the first time a japanese player or coach has won a fifa title. >>> sumo wrestlers are grappling for top honors in tokyo. ross mihara has the latest on that. >> just like the opening day of the new years grand sumo tournament in tokyo, on day two, all eyes on him. if he is nervous, it doesn't show. then again, the 25-year-old never lacked confidence. facing a giant killer, but age and injuries taken their toll. the newest one dominates from start to finish, finishing him off he has come around, turned into a fine ozone he can ee. he was stunned. he wants to bounce back from that embarrassment on day two against wakakoyu. he has a strong grip, then follows it up with his favorite belly bashing. he evens his record with a solid -- >> the king of the ring, hack u hoe. it would tie him for fourth place. he lost once to him back

is that true that the crew were asian nation and so we hardly saw any of them filipinos mostly for the pinnace rights. of crew members were from the philippines. and most of them were a catcher but. they were not sailors but rather. we probably saw only three or four crew members how could you tell they were a crew. by the uniforms they wore special vests and were acting a bit different you said that when they lowered the lifeboats absurd up something saw you telling passengers to have an opposite effect we got there by accident only . people were spread across the deck and we were standing near that place where a left boat was leaving the ship. and it was to second or the third want to go on. no one on the first and he got in the crowd actually pushed us in it quite nicely how many people can a life boat carry a hundred i think around a hundred or so i didn't say one of the lifeboats rescued you exactly. but there was no panic things were moralist peaceful the panic began in the lifeboat why so. people responded differently for instance i still cannot sleep at nights there was a young

. >> reporter: cbs news national security analyst juan zarate says fear of china has some asian nationsurning back to uncle sam for protection, especially in the south china sea. an economic shipping hub where china has laid claim to disputed territory. >> there is a sense that we need to be there to serve as security blanket in the region. >> reporter: along with the philippines, the u.s. is looking it into possible security arrangements with indonesia, thailand and even vietnam. singapore has agreed to host navy warships. >> the united states is stepping up. >> reporter: in november, president obama announced plans to station 2500 marines in northern australia. the largest number of troops in that country since world war ii. >> our economy, virtually every job in america, it tied to the stability of this area. >> reporter: regional expert anthony cordas mann says preserving u.s. trade to and from asia is vital. >> preserving that level of security and stability is the cost we have to pay, is actually a relatively cheap insurance policy. >> reporter: there are fewer than 100,000 americ

they were among some 650 detainees who received a presidential pardon today, in the asian nation also known as burma. we have a report narrated by john sparks of "independent television news." >> reporter: the fence is high and the walls are thick, but to the surprise of many, they opened the gates and more than a 130 political prisoners walked out of jails today. students and journalists, bloggers and ethnic leaders, received with joy-- a great flower-clad embrace. "free all the political prisoners," they shouted. hundreds remain in prison but the is cause for optimism here. the government and the generals who control it have introduced reforms and this newly released activist, seems ready to believe. "if everyone involved in this process is honest," said khun tun oo, "then i can see a chance of it actually working." among those released today, a former prime minister who fell out with the hardliners-- general kin nyun has been under house arrest since 2005. this is tane sane-- president, reviewing the troops a few days ago. many feared him as the next military strongman but he prove

paper couple days ago reuters had a report that china has agreed with the association of southeast asian nations that trading in that block will be done in chinese yuan rather than in dollars and then i read something yesterday which flew in the face of my magic trick. it seems that the legislature of louisiana -- just happened in the last couple days -- the legislature in louisiana passed a law that says that people who sell second-hand goods can accept cash for those goods and they cannot. in the first place this strikes me as probably in violation of federal law because if it is legal tender it is legal tender. secondly, erases some really interesting questions about the direction of dollar. if cash is not good anymore what are we going to go to? that is a long winded way of saying -- >> that is louisiana you're talking about. >> let me from a question out to both of you to start out with. some specific questions about the books. we are in the middle of what everybody seems to agree is an economic crisis around the world and part of that crisis is the place of the dollar. the chinese currency

she was one of the founding members of the national asian pacific women's movement in the late 1970's, which resulted in the development of the local bay area group, pacific asian american women. the have been running 30 years. she recently completed three terms as a san francisco airport commissioner. please join me in welcoming carol ito. [applause] >> thank you. i am very humbled this afternoon to join all of you. i want to thank shelly's committee and everyone who made this happen. i am honored to share many of these honors. many of us have work together for the various causes and policy changes for this great city. i must say that there are many unsung heroines in this room, and my guests at table three are many of my own personal friends and supporters to keep me honest, keep the focus, and make it really very special and important to do what i do. i have got a lot of guidance and support from these women. for those of you who have not met them, please, after lunch, these are the women who make up a big part of my life. i think what is also important is that we need to support e

will learn about that in just a moment this is a big big deal to the chinese community and other asian nationsorea, vietnam, mongolia, so on so we will learn more about it today from the experts, we have wu ping ya director of the foundation and the president of the community center good morning. >> good morning. >> we want to start off by what is the chinese new year all about. >> it is the first day of the lunar new year, celebrated by a lot of asians including the vietnamese and mongolians it is a different calendar system but essentially the same as regular new year we just celebrate it on a regular day we need more time to party. >> 15 days. >> 15 days. >> we do celebrate for 15 days. >> with a do these signs say? >> this means have a progressive happy new year. >> nice and everything has a meaning, we are going to do food later on and the special dishes and all that, so what is the whole 15 day celebration like? what do you do on day 1 and day 15? >> day 1, first day of new year everybody stays home and we have to clean our houses all the preparations, are done before the first day of ne

i am executive director of the asian-american action fund, a national organization dedicated to getting more asian-americans involved in the civic and political process. asian-americans constitute one- third of the city's residents over here. i'm here to speak in favor of item five and against no. 4. i am an election lawyer. i drafted the brief that defended ranked-choice voting in federal court. ranked-choice voting has been good for the city including asian-americans. before ranked-choice voting, we used to have december runoff elections were no one would show up to vote. 30% or 40% in november would not show up in december. in the asian-american community side, there are two candidates for a few who finished first in november but lost in the december election. ranked-choice voting allows voters to cast and select a consensus winner in the one election, not t garrido. after ranked-choice voting was introduced, representation of asian-americans in the order of supervisors here as well as citywide offices went up from three to seven. age at of 11 seats -- eight out of 11 seats is repres

the only description is that he was asian and seen drive nation light colored sedan. here in san francisco, bob ra dell. >>> a fire near the microsoft campus in mountain view, flames shooting up higher than trees as firefighters battled the blaze last night. the glow was so bright, drivers could see it from near highway 101. pg&e says it is possible a transformer blew, that would spark the fire in the area around stevens creek trail. very close to microsoft. pg&e crews working through the night trying it repair downed power lines and restore power to nearly 400 pg&e customers. crews will likely remainñ on th scene until 5:00 tonight. >>> happening now, a seen eerily similar to a recent shooting at a cement plant here in the south bay. deputies investigating the deadly workplace shooting at a lumber company in north carolina. deputies say at least three people are dead, and two are injured, including the gunman. the gunman reportedly shot himself at his home after shooting his co-workers. and the mcbride lumber company in the city of star, witnesses describe the gunman

figures show that 62% of asian-americans in the nation's large metropolitan areas now live in the suburbs. that's up from 50 sfowr% in 1990 -- 54% in 1990. >>> and in palm spring they are expecting more windy weather. it -- the national weather service says high winds may cause more power outages and possibly blow enough dust to redues advise built tomorrow -- visibility tomorrow. ski resorts in seat yare raw nevada are celebrating. ing it celebrating as you can see there in the squaw valley. yes! forecasters are calling for up to two and a half feet of snow to fall overnight. it looks like more of the same. so if you ski, i'm not saying you necessarily should, but it might be a reason to call in sick to work tomorrow. but i didn't tell you that. >>> let's check in with leigh. more snow on the way, leigh? >> absolutely. two, two and a half feet are expected as it pushes through the bay area. you can see the wet pavement out there. let's go to live doppler 7hd. there is a lot of bright color showing up now in the north bay. this is where some of the heaviest rain obviously starting to move

by setting toilet paper light in the bushes at the tories don't pay their shop national park but the denies that is asian more than one hundred homes have been destroyed forcing people to flee the flames area has been suffering from drought and heat wave helping fund the fires. the third and final round of elections for the lower house of parliament kicks off in egypt on tuesday for more than a sort of course his are vying for a seat even though the country remains under the military rule islamist parties are expected to win a big parliament with the muslim brotherhood's freedom and justice party leading from the previous two rounds with over sixty percent of what elections are the first since the uprising that ousted president hosni mubarak for three decades of power. new year's celebrations for many people in the year as a range of a tough current economic climate with many predicting further for sure misery twenty twelve will see a severe test for the euro as it fights for survival the single currency has now been in circulation for a decade but it leaves millions of europeans anything but optimistic.

to europe as the biggest threat to the global economies called for an asian solution so the fact comment though considering the nations that the e.u. countries are already trying to take to deal with a big problem well i don't i think that's a political comment by jamie dimon but it's certainly not a accurate assessment of the european economy the german economy the powerhouse of europe is extremely strong despite the turbulence in the world economy if any economy is in danger i would put the focus on the american economy which is simply going down the tubes every month every week every day so there the situation has no prospect of getting better in the next forseeable several years from so she is going back to a europe again european leaders plan to meet again at the end of the month to work on agreements made in december including tighter budget controls more penalties for the biggest spending but how much hopeful recovery can we pin on that meeting. well that meeting pre-sale not sure that we can pin a lot of hope on recovery but the. excuse me the economic activity on the ground in the real economy is what's going

asian idol group. >> translator: our greatest challenge is how to appeal to foreign audiences whose culture, nationality language are different from ours while conveying to them a taste of japanese culture. i think they did a good job. i was moved. but i know this is only the beginning. >> reporter: asia's music market is growing fast and competition is intense. the challenge for japanese-style idols on their road to stardom has only just begun. mark ho, nhk world, singapore. >>> time to check on some of the stories we've gathered from broadcasters around asia. we begin with this item from rtm in malaysia. the prime ministers of malaysia and singapore have agreed to enhance economic cooperation, connectivity and cross-border exchanges. razak and lee hsien loong issued a joint statement after their meeting in malaysia. they say a joint ministerial committee will be formed to promote industrial cooperation in the iskandar malaysia development region. the leaders also reviewed progress on last year's agreement to build a monorail between southern malaysia's johor state and singapore. >>> a breeding center

asian idol group. >> translator: our greatest challenge is how to appeal to foreign audiences whose culture, nationality and language are different from ours while conveying to them a taste of japanese culture. i think they did a good job. i was moved. but i know this is only the beginning. >> reporter: asia's music market is growing fast and competition is intense. the challenge for japanese style idols on their road to stardom has only just begun. mark ho, nhk world, singapore. >>> rachel ferguson is up next with weather. >>> hi, there. welcome. parts of japan have been experiencing two to three times the normal amount of snow that they usually see this season. we are talking about areas down towards the west that have picked up more than two meters of snow down in totoria. nearly three meters of snow. really been coming down here. into tomorrow, it's going to be weakening off. and we'll still see another 30 to 40 centimeters of fresh snow for northern locations. generally, it is going to be quieting down into the weekend. still a few snow showers through january. but nothing of significant type of sn

nation's budgets. >>> absolutely. let's take a quick look at what's been happening here in the asian markets this day. pretty positive, too, following that outlook from the u.s. bell weather company, alcoa. this is an alamenian company. it's key for understanding the global growth. a bright outlook means it's not such doom and gloom as we go ahead. that's helping to boost the markets here. in the asian region, big exporter moves to beijing t. will boost investor rights. in china we had the trade numbers out both imports and exports rising but slower rates than expected. financials moving higher in shanghai and hong kong on the hopes of a possible cut in the reserve ratio requirement at least in broad money, monetary policy after those trade numbers which does suggest that chinese growth does continue to slow. now the nikkei, take a look at that. it was closed yesterday. up by . .4%. we've also go the a couple of big moves to show you coming out of tokyo today. take a look at that. olympus up nearly 20%. that's after the nikkei newspaper reported it would remain listed on the tokyo stock exchange. they

asian people are tiny? i mean, they're small, but they're not guatemalan. we'll be right back. >> stephen: welcome back, everybody. thank you very much. nation, thank you so much. folks, nation, more on new hampshire in a moment, but first, we turn to the scandal engulfing the obama white house, a new book ominously called "the obamas." it has revealed a shocking secret from 2009 the president does not want you to know about. >> new controversy over an "alice in wonderland"-themed halloween party at 1600 pennsylvania avenue. >> johnny depp was standing at a table at this party greeting guests dress as the mad hatter. >> they're having "alice in wonderland" parties o when the unemployment rate is 9.9% in the country. >> this big, decedent, hollywoodesque-type henry viii bash. >> apparently the people at the party were drinking punch out of blood viles. >> it was so exextravagant gantt that guests drank fruit punch from blood viles. >> stephen: this party was so extravagant that managed to anger not one but two doocys. tweedle dee and tweedle dooce. [applause] but why? why, folks? i ask you, why are these obscene details coming to light only n

national peanut butter day! --making peanut bbttee soup 3 (asian theme) 3 for more information on stratford university, log on tomorning. coming up... baltiiore makes phe list... of america's rudest cities.so how rude are we??that answer... next.you're watchiig fox 45 morning neww.. all local.. all morning. i just had it with cable. it just got more frustrating and frustrating. a lot of times, the picture would break up. for the amount of money that i am paying, my cable company should take care of me. [ male announcer ] stop paying for second best. move up to verizon fios tv, internet and phone for our best price online -- just $89.99 a month guaranteed for two years. first time we saw tv on fios was amazing! i was just in a trance watching it. i'm discovering new channels every day. [ male announcer ] and here's a special bonus: sign up now and get $300 back with a two-year contract. fios internet -- the speed, you can't compare. i'm able to take care of things much faster now. [ male announcer ] start saving now. move up to fios for our best price online -- $89.99 a month guaranteed for two years and get $300

asian pacific community. the fight for bilingual nejz the schools. the student strikes the workshop system and one unforgettable struggle that captured the attention of the nationight against e visions at the international hotel. >> it was horrifying experience where it was bloody and violent. >> [inaudible] on kaerny street a 10 block community where many filipinos lived. in the 1910th and the 20's and 30's. there were night clubs and restaurants and small businesses. it was a lot of the [inaudible] many of them who came in the earlier time they called it home. at the time and the international hotel struggle happened, it was right on kerny and jackson. that was the last building, the last block of manila town that was standing. san francisco at the time was going through a period you know, where there was redevelopment they were expanding to the western edition. they were tearing down a lot of communities. at the same time it was a time when a lot of asian americans were becoming more aware of our heritage and the conditions of our communities. and that basically created, sort of a, sort of a back drop for the hotel struggle. >> the struggle began in 1968 and

thailand officials say they are worried about the survival of asian elephants because of a disturbing new practice. two have been found dead in a nationalk for their meat. usually poachers kim them and just take their tusqa. now it appears steak are being taken. >> diane feinstein is on twitter after she responded to a republican challenger. the senator's account sent out her first teeth yesterday giving update about a new courthouse in los angeles. the republican senate hopeful had accused her of being out of touch was she wasn't on facebook or twitter. >>> google, facebook and microsoft among those teaming up to fight phishing. starting today companies sign up for the program. they said they use the technology for microsoft already. >> this detection device is considered by many to be a revolution in detecting natural gas leaks, because crews will be able to walk through neighborhoods looking for leaks. >> also bill martin is working on the extended forecast. the trend we will see in the next couple days. . >>> today we got a look at a special car that pg&e crews can use to sniff out natural gas leaks. robert honda says why pg&e and t

think about what it means to be asian american and how there is not a strict definition of that but it's changing and expanding and also relevant it's relevant to all of national issues. and human issues personal issues. >> these conversations are taking place at a unique time in kerny street's history. original ksw measures are interacting be artists. ksw's community acrosses in generatio generations. >> it's great to see the things asian american artists are doing now different from what we were doing we were doing murals and different art. others come in and they this is not asian american i don't understand what i'm looking at there is a range of people's reactions it's a different space, it's a lot of different artists and there are new generations involved. i hope they will be radically different in 20 years. ksw's mission and to promote art. it's difficult to quantify but i think that it definitely connects people and we place an emphasis on building the community and connecting with organizations through the program. i guess it's successful in that sense. i know people feel at home here. >> to learn more visit kernystreet. org. >> in each of these stor

nation's first primary. >>> what china's plan is as the u.s. military beefs up its presence in the asian pacific. plus the movies that topped this weekend's box office. >>> it's been a year since the deadly shooting in tucson that killed 6. bells rang out to mark the occasion. about 30 people gathered at the grocery store where the attack took place. yesterday gabrielle and her husband visited the hospital. giffords made a rare public appearance at appear candlelight candlelight -- a candlelight vigil. she led the crowd in the pledge of allegiance. >>> well, the candidating are taking off the gloves. how the others are going after front runner mitt romney. >>> there's a storm headed our way, i'll let you know what to expect for this week. >>> decision 2012 is heating up. in the 2nd of this weekend's two debates their fire was directed at front runner mitt romney, the man expect to do win new hampshire's primary. >> reporter: gop's presidential candidates battled it out this weekend. before tuesday's new hampshire primary. front runner mitt romney exchanged a meeted debate with. >> if his record i

asian cultures. >> and new at 6:30 there is word of a settlement between u.s. government and the nation'sgest mortgage lenders hoping to put the foreclosure crisis behind use a ruling from the u.s. supreme court on the power of police to slap a gps on your car. a electrical man tells what happened to him. >> and in sacramento, there is yet another move to make the legislature part time this, time, though, a new analysis spells out how much california was saved by doing so. >>> there has been a mainler break through in the mortgage crisis we've been facing in three years. the five biggest mortgage lenders reached a settlement agreeing to overhaul the industry. a million homeowner koz have the size of the mortgages reduced by $20,000. another three quarters of a million lost their homes could get an $1800 settlement. for 11 million underwater, meaning they owe more than homes worth it should make it easier for them to refinance. not everyone is on board, critics say it doesn't go far enough to punishing banks and california has opted out of the settlement talks and the president expected to

nations put their confidence in angela merkel's plan to safeguard the euro. in turn, asian and european market are cautiously following suit this tuesday. u.s. futures are moving absolutely higher after monday's down day on wall street. there's good reason that the enthusiasm is staying contained and no surprises for getting what that reason is. nina, it's always the same. it's greece. >> greece is certainly the word these days. in the meantime, while investors haven't gotten the deal they wanted, angela merkel got the deal she wanted in brussels on monday. 25 out of the 27 countries have now backed her plan to fiscal rules aimed at protecting the eurozone. any protection for greece is far from assured. jim bold en reports. >> after six hours of talks in brussels on monday, european union leaders agreed on some things in order to help stabilize the euro zone and try to calm the stock market. the first thing is they've agreed to start the stabilization mechanism starting in july. a year earlier than planned. this is a permanent bailout fund that will be available for any cou

the next asian the world spends about 12%. -- the next nation in the world spends about 12%.have got to find a way to get our health care cost competitive. there are two ways of approaching that. one is to have the government put in place price controls or have put some have called "rationing." that is one way to hold it down. european nations have tended to go that way. i believe that letting consumers act more like free market by year's is a better approach. the last thing i would do with health care is do with this president did which is to say i'm going to impose on the whole nation my plan for health care. the right course is to let the constitution do what it was intended to do. in the 10th amendment, it said that those powers not specifically granted to the federal government are reserved by the states and the people. so i crafted what i thought was good for our state -- not perfect, by the way. lessons learned. but i would not impose that on the nation. i would let other states craft plans that are best for them. what worked in massachusetts will not work in mississip