i think getting one currency between the bric nations is unlikely. having said that, you heard the same talk out of china and out of the russians. all we have to hear is that of the indians. it certainly feels like this is a group that can do something away from the dollar. >> i totally agree with you. i think where there's smoke, there's fire. there's just too many of these comments out there. and you picked right up on it. did you say you have a second half coming up on your show tomorrow? >> i do, larry. tomorrow, 4:00 p.m. and i just want to say i agree with you 100% on the post office. it's unbelievable. what a great conversation you just had. >> it blows me away. marie bartiromo absolutely the best of the best. her next installment of the lula interview, tomorrow at 4:00 p.m. thanks for joining us. coming up on "the kudlow report" is the g-20 trying to rescue the dollar? i want to pursue this line of reasoning. it may be farfetched but in the short run, who knows. the dollar has rallied in the last two trading days. anyway, john harwood is goin

that's true. >>> up next on the show, who will be the next bric? we'll make the case for one rising asian tiger, a democracy with a growing economy and more people than the "b" in bric, brazil. >>> and he's an 11-time nba all-star. he sells more jerseys than any other player in the nba. now kobe bryant has a new deal and he's only talking about it right here. darren rovell with a special interview on "street signs." we'll be back. >>> earlier this year morgan stanley made a case for the fifth bric. they said that should be indonesia, and now big business is starting to put real money behind that. today ge chairman and ceo jeff imel talked about boosting investment in indonesia. he is my boss, so we take that very seriously. here now to talk about indonesia's growth is the minister of trade mary panjestu. i remember when morgan stanley came out and said there should be a fifth bric. brazil, russia, india, china, and indonesia. why indonesia? >> well, i think we are the largest country in southeast asia, and we have been growing at around 6% up to th

an hour wee discussing, and i believe until the next year, maybe we can reach an idea with the bric countries so we make our trades exchange. we're using our open domestic currencies. this could be done with other countries, too. argentina, the experiments have been successful. we wand to expand that to the other block, so we don't need to buy dollars. and overvaluing the dollar itself. and so i believe that this is a way out for the country. of course, obviously there are people against this idea and we're going to have to have the awareness that this is not something easy that will be accepted very easily in the world. but it's a discussion for the debate. and we want to raise this debate already with a certainty that we have have sk sesful experiment between brazil and argentina. >> is it fair to say you would think that the dollar would continue to weaken? >> translator: well, i don't want a weak dollar. i don't want a strong real. i want a balance between the different currencies so we can have the certainty in brazil. there was a day that the dollar was equal to one -- one real was equa

but do you think we're going to see more changes come about, involving some of these bric countries? >> i certainly do. this goes back to what drove the great credit bubble. it's a two-party arrangement. and, of course, there were those that provides the finance, so very much the sovereign wealth nation that created wealth and getting them coparticipatory is regional. and if one looks at the marginal on a global platform, it's emerging economies. >> for now, though, thank you very much. james bevan, still with us in the studio for this hour and thank you, alistair newton, who jones us, as well, from nomura, senior political analyst. thank you. >> still to come on the show, there's something of an ipo surge under way in asia. is this a sign of better times to come in markets? and the global economy? what do you think? do your public offerings give you more confidence in the global economy? e-mail us. welcome to progressive.com. you must be looking for motorcycle insurance. you're good. thanks. so is our bike insurance. all the coverage you need at a great price. hold on, cowboy. cool.

. >> do these bric countries play a larger part in your portfolio, too? >> well, i think that in general people, say, in the united states, they may have had an allocation of 20 to 50% to foreign markets and of that they may have had 20% or 50% in emerging economies. i think people have to rethink the world and that they should have little money in the united states and say over 50% of their funds in emerging economies. i'm not suggesting that they should rush out today and buy across the board emerging economies. but as a long-term target, i would have at least 50% of my money in emerging economies. i have more than that. >> michael, let's bring to you another pair of issues that affects the g-20 discussions so far. let's start with regulation. regulation of the banks and bank capitalization measures, as well. as we see the financial sector returning to normal, how do you think this push for changes to bank capital equalzation measures, what impact will that have on the shape of the banking sector? >> if we only go back one year from today, someone will

about american currency manipulation in the dollar depreciated 15% in the last six months, all these bric countries calling for a new veer of currency. maria interviewed president lula of brazil, who talked about a regional currency. in other words, doesn't, bill isaac, doesn't the trade issue go hand in hand with the currency issue? >> it absolutely goes hand in hand. >> let me ask bill isaac, bring him in on there. bill what is quick take on this? >> i agree, a whole lot of issues all wrapped together, including the way the chinese have been treated on some of their investments in the u.s. i think, for example, they got hit really hard when fannie and freddie went down. and i think that is in the background. there is a whole lot of cross currents here involved in this. not a simple matter. >> bill, do you believe a u.s./china trade war is in fact looming that this could grow bigger? >> oh, i don't -- i really don't think so because i don't think either country would find that in its best interests. the two countries really need each other right now and the world needs both of them. >> i

and that is one of the main reasons that the brics have turned around quickly. so that has been the big reason why i think they've been able to cushion it. but without that, i think they would be in not as much trouble as the developed world, but certainly it wouldn't have been the decoupling. >> thank you very much for that. mike. >>> up next on "worldwide exchange," we will look ahead at the trading day ahead with mikat gurka. welcome to the now network. population: 49 million. right now 1.2 million people are on sprint mobile broadband. 31 are streaming a sales conference from the road. eight are wearing bathrobes. two... less. - 154 people are tracking shipments on a train. - ( train whistles ) 33 are im'ing on a ferry. and 1300 are secretly checking email... - on a vacation. - hmm? ( groans ) that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. sprint. the now network. deaf, hard of hearing and people with speech disabilities access www.sprintrelay.com. >>> guess what? the fun doesn't stop here. af

but basically, we are into the bric countries. >> billions of dollars of cdos are being liquidated, enabling banks and insurance companies and others to get toxic assets off their balance sheets. are we seeing a sign that one of the major problems that brought us into this financial crisis is resolved? >> i think resolved is a bit early to say. there's no question that the banking system from these once alleged toxic assets has been quite remarkable and has driven bank earnings in the first and especially the second quarter of this year. so there is cash around and banks are ready to lend again, which i think is important especially in terms of m&a activity. >> so what is your outlook for the recovery? what shape recovery do you think we're going to see here? >> it's going to be a very, very slow recovery. we're not going to see any modelist jumps. i don't like these different letters there that are often used, but basically, it's going to take quite some time to u.s. consumption and for global trade to get back to the levels that we were used to in 2006, into the early parts of 2007. especi