the opening of free trade zones in shanghai is challenging hong kong's stature as a gateway to china. hong kong has long benefited from being the gateway to china. the proximity to the mainland make it attractive to foreign companies. that role is being challenged as free trade zones in shanghai open for business. the shanghai free trade zone is the one to keep an eye on, economists say. the government would like to see shanghai. >> it is too early to tell. over 600 u.s. firms expressed interest in doing business in hong kong. >> it is about innovation. hong kong needs to keep innovating and reinventing itself. >> one of those is global professional network. they recently opened an office in hong kong as it considers the city and the mainland as fast- growing markets with a total of 3 million members so far. >> it will become a stronger competitor as the gateway into china. if hong kong manages this well, it should continue to be able to benefit from china's overall rise. >> it depends on beijing implements rules and policies. only then will investors see whether they are likely to be

until one is that the whistle on the five countries and regions says that in many china hong kong and singapore there were a chorus of the tunes including the integrity of members in taiwan for the awkward high salary so he says helens to the retail so to recoup talents the believers in taiwan. and also the pub eight is one of the hot topics about the tissues and hikes in taiwan. and that is fully use the information that the entire wanted the attention pay years roughly about two thousand dollars us dollar compared to bow forties on those food for the heavy buderus and stays even for the stain was despondent when you thought this was the rain lol. and to top it difficult to maintain the high quality of education and also that down in the last five years maybe ten years so that the winston is to be seen the fuel filler it yes to him to sing opera so in case two degrees in assembling and be by medical area. it's not just that and the young men including on this don't cry when he was commissioned to louise's defied the last five years was heated them up there but const awful fifty perce

and even risked his life to go to the russians and help them surveilled. ,> but he has been to china hong kong, russia now. you can't be sure he has not had to give up something. >> you pointed out various to lay just a few minutes ago that no one can prove a negative, so if you are looking for me to prove to you they do not have any data, i can do that. what i can do is tell you all the evidence we actually know makes it ludicrous to the think -- to think they have not obtained any of that data. there is zero evidence in any responsible journalist would refrain from suggesting that happened when they have no evidence that it did. >> thank you very much indeed. now, let's discuss this further with pauline neville jones, former chair of the joint intelligence committee. shouldn't we have been told about all of this stuff anyway? >> i think that government does have to have powers to protect us. there are extraordinary things being said by glenn greenwald. in particular -- and i think it is incredulous he actually believes -- that the russians and chinese are not in full possessions of that info

expansion in mainland china, hong kong and other parts of asia also helped to boost sales. >> translator: i expect overseas operations will keel on expanding, as a main driver of the fast retailing group. >> the chairman also referred to a government request to business leaders for higher wages to boost economic growth. he said he will consider raising payments for his employees. >>> samsung electronics launched what it said is the world's first smartphone with a curved display. galaxy round hit the market thursday. plastic is used instead of glass to form the concave display. tilting the device on a flat surface will allow users to check information such as missed calls. samsung executives say the firm will apply this technology to develop new smartphone models, including wearable ones. >>> taiwan's president has been reaching out to his island's most powerful neighbor, china. he called for closer relations, a goal some taiwanese oppose. we have the report from taipei. >> reporter: the president addressed the taiwanese at the foundation day ceremony. attempting to reach out to people on

you mentioned earlier that competition is coming from neighboring countries like mainland china, hong kong and singapore. both in terms of recruiting top professional teaching talents and in terms of recruiting students. how do we in your opinion, how can we deal with this international competition and make ourselves more competitive? rex i think that is the important issue. one thing i learned about internalization, and i always struggle with what it means. some people thinks -- some people think it means we have to travel abroad but that's not what it means. you can learn that if you stay in taiwan. currently we have about 75 international students. the first thing i learned is that they are by themselves. they work together. they don't assimilate with domestic students. there's not enough effort being made. after i come to yamane, -- after i come to yang-ming university, i encourage domestic students to integrate with them. that has been making a great deal. there is an international merit and i've talked to some domestic students who say working together i learned a great heel. how the

the kind of a lot of investors are looking eastwards like looking at the markets like singapore china hong kong you know and what's going to be happening there is the strand well the strand continue what will be the balance here. yeah actually what we've seen the last twelve months is a big selloff in emerging market secure you know securities we've seen the indian stock market decline a big collapse in the indian rupee the fact is the chinese stock market is trading fifty percent lower than it was five years ago. brazil's economy may not even grow this year and so we've been and we've seen a big drop off in growth in a lot of the larger emerging markets because we've seen liquidity dry up and the fact is a lot of these larger economies what we call these bric economies have not made fundamental structural economic reforms over the past four or five years and it's hurt. well you mentioned earlier smart money so speaking of smart morning do you think that other currencies might challenge the greenback now and it's actually you know some some of the markets will be looking at diversifying their c

to run off to china, hong kong, moscow, sorry, can't go there. >> we would always push government rendellore of a tweeter. now his strategy of having a small digital footprint is quite genius. once again you're five steps ahead. >> i do tweet now. >> selective. >> innocuous. >> football. >> exactly. we have to leave it there. thank you to howard, katty, jonathan and governor rendell. see you tomorrow. "andrea mitchell reports" is next with guest host kristen welker. humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms

nsa spying activities have been exposed in places like germany, india, china, and hong kong. other south american nations and the united nations and there really is no limit to the nsa's global surveillance operations. these contradict the nsa's own mission statement which reads the national security agency leads the u.s. government in cryptology and encompasses both symbols and information assurance products and services. now, as many of our allies find themselves targets of the nsa, should the white house reconsider the role? the mission is to get united states and its allies the security advantage now seems to have worked -- morphed into the mission to get united states the security advantage against its allies. in washington, rt. >> now, joining me to discuss implications of this is a political analyst and editor. thank you for joining me. last month it was also revealed that the u.s. accessed text messages. we received this official statements. this practice is unacceptable and runs contrary. >> mexico is an streaming -- extremely sensitive to any intervention. it is sho

so what they're saying is that they could use it i guess leverage it up and vest overseas in china in hong kong and in infrastructure projects domestically and to pay down debt so i'm assuming they want to leverage it up and use this as more of a speculative vehicle because all these other sovereign wealth funds that they talk about are dominated by oil natural gas which puts a lie to the fact that you can somehow like magically spin your way with debt and financial products into the wealthiest nations in the world but goes back to the creation of the petro dollar in the one nine hundred seventy s. when the u.s. defaulted on their bonds and went off the gold standard that was the first major default by america of their bonds in one hundred years then they went on this petro dollar standard and increased the supply of dollars around the world and other countries starting really in the wake of the asian financial crisis in the late eighty's started to build up these huge reserves china has trillions of dollars in reserves made up of a chilling us dollars and then more chileans of other currencies

china china has two different funds which are in the top five kuwait hong kong singapore russia and singapore so you see that the only way up there is either to have natural wealth of oil. or commodities or you actually have to work for a living and export and create things well if you can point other year have workers that are exporting and you can have a sovereign wealth fund like china or you've got oil that you are exporting that can create a sovereign wealth fund the in the u.k. you have neither you know of neither a robust export market or do you have any more oil because a north sea oil is now basically put and no amount of shale drilling is ever going to replace that supply of gas and oil and i just want to correct myself helen mirren did do an excellent job for trying to clean elizabeth on the in the west and during some production where she wore the tiara and uttered a few nonsensical jibberish as monarchs do but here's i'm saying go big time go big go big big big big big don't settle for just a west end production of your life get a big truck and hollywood thing going on you can do

what they're saying is that they could use and i guess leverage it up and best overseas in china in hong kong and in infrastructure projects domestically and to pay down debt so i'm assuming they want to leverage it up and use this as more of a speculative vehicle because all these other sovereign wealth funds that they talk about are dominated by oil natural gas which puts a lie to the fact that you can somehow like magically spin your way with debt and financial products into the wealthiest nations in the world but goes back to the creation of the petro dollar in the one nine hundred seventy s. when the u.s. defaulted on their bonds and went off the gold standard that was the first major default to buy america of their bonds in one hundred years then they went on this petro dollar standard and increased the supply of dollars around the world and other countries starting really in the wake of the asian financial crisis in the late eighty's started to build up these huge reserves china has trillions of dollars in reserves made up of a chilling us dollars and then more chileans of other curren

china. for more about reaction, this is getting underway. advising caution as to what might happen. we are joined live from hong kong >> markets are waiting to see where the forecast for china's growth roofed accurate. the national bureau of statistics in beijing, analysts expecting an uptick in 7.7% for the third quarter, up .1% from the first half of this year. china's economy is still on track to be the governments 7.5% growth target for the year. some say they are still worried that slowing exports could lower growth in the fourth quarter. slightly lower, breaking seven straight days of gains. here in hong kong, shares marking ahead of china gdp but starting today up .5%. in corporate news, warning over declining chip sales in the world's biggest contract chipmaker. tsmc says mobile phone makers are cutting back on new product launches as high-end smartphone sales slide. a surge in gadget sales helped the third-quarter profit grow more than five percent. it expects big customers like apple and samsung to order fewer new hearts. here in -- new parts. here in hong kong, suspected currency manipulation. regulators

so what they're saying is that they could use it i guess leverage it up and vest overseas in china in hong kong and in infrastructure projects domestically and to pay down debt so i'm assuming they want to leverage it .

spying activities have been exposed in places like germany india china and hong kong that in allegations of spying against the european union other south american nations could tare based news broadcaster al jazeera and the united nations and there really is no limit to mrs global surveillance operations and all of these revelations directly contradict the n.s.a.'s own mission statement which according to their website reads the national security agency leads the u.s. government in cryptology that encompasses both signals intelligence and information assurance products and services in order to gain a decision advantage for the nation and our allies under all circumstances but now as many of our allies find themselves as targets of the n.s.a. should the white house reconsider the role its spy agency is playing around the world after all the n.s.a.'s mission to give the united states and its allies an economic and security advantage now seems to have morphed into a mission to give the united states an economic and security advantage against its allies in washington sam sachs our team and n

china and hong kong finished with losses. but japan and south korea had small gains.he turbulence caused by the u.s. government shut down earlier this month. that september job's report was delayed. we're still waiting to see that today. here's a look at yesterday's closing numbers. dow was down 7. nasdaq up 5. at this point u.s. stock futures are flat as we await that job's reported to. >> 5:23. a 12-year-old starts shooting at a middle school in nevada. the latest that injured two students and a popular math teacher dead. >> an nike marathon mix up. the numbers people were given when they called to complain about the noise. [father]c'mon,buddy,you can do it.c'mon,reel it up, you gotta reel it up now,buddy. reel it up. [father] reel it up,you got him on there.bring him in. is that a bass? [boy] yeah,i got a big bass. [father]bring it up.keep reeling.keep reeling.c'mon, where is he? whoa! you caught that all by yourself? [boy] yeah! [father]how old are you to catch that? [boy]three! [father]you're three years old? show me how many fingers that is. with my united milea

let's go to the china daily in hong kong, the lead story "china calls on the u.s. is the biggest holder of u.s. debt, foreign holder any way. in thedl

in fact, if we look at someone else more exposed to china, macau, hong kong, singapore, they're exposed to traveling chinese city, all in all, it is a very, very exposed brand to china. >> one final question. the -- it's very fashionable sort of coat, you see it on a ski resort. is that going to be of interest or how much interest is that going to be? >> well, i think the plan was -- >> like a thousand -- these things start at like a thousand ponds, the jackets. >> the quality, img for this kind of brand, it remains as an investor. the main focus will be can they -- could it be a target? i mean, in spending something like $9 billion euros since 9/11 in purchasing other companies. or recently -- the key on smaller player it can be a target. >> yeah. i don't know -- i have to find out how much they're planning to list the free flow. but we'll see. >> if in three months time, burberry share prices go down, i mean, it's farfetched today. but burberry could be a target. >> okay. we heard it here. good to see you, as always. let's move on and remind you of what's still to come on the program

let's go to the china daily in hong kong, the lead story "china calls on the u.s. is the biggest holder of u.s. debt, foreign holder any way. in the middle east, this headline in "the gulf news," based in dubai. shutdown dims hope for retail. they are worried about the economy too. the paper says a big concern is that a prolonged government shutdown could severely hurt the economy and necessarily consumer spending and, therefore, annual growth. and we got another front page from the independent and the uk that i'll mention saying it's about the budget standoff and says china's fears over the political deadlock, highlighted there. can you see that telling president obama to get a grip and mentions world markets are already jittery following the lack of progress on capitol hill. that will do it for me. thanks for with being today. "cnn newsroom" with wolf blitzer starts right now. see you tomorrow. >>> i'm wolf blitzer reporting from washington. president obama getting ready to go before the cameras and the

carriers of apple's latest iphones in mainland china among the top gainers in hong kong, shares of chinaelecom and unicom gained over 7 and 8%. china mobile, an official deal is still yet to be confirmed. >> it doesn't happen. look at how much china mobile is missing out on that despite being the world's large telco carrier. sixuan. i'll see you next year -- next week. that was wish phil -- wishful thinking. >> what are you doing -- >> i was thinking about my long trip back which will feel hike a year. i have to go like 24 hours. >> a year, oh, my goodness, i better get back to the sunshinesingapore. i think i need to go haver rather than later. anyways we'll keep on china, right? >> do that. >> and the latest service sector reading suggests the country's slow some might argue slow shift toward a domestic driven economy may be under way. official services pmi rose to 55.4 in september, a six-month high, the jump comes just as china's factory growth gauges appear to be scaling back. ross? >> and the latest eurozone pointing to a pickup. the highest level since june 2011. claus is still wi

and mainly china and hong kong markets all slipped less than 1% in today's trade. anwhile, china's liquidity concerns weighed on the japanese market in the morning session, but the nikkei 225 managed to turn higher in the afternoon session, ending up 0.4%. hitachi was one of top gainers, juveniling over 8% on an earnings beat. kospi ended higher by 0.5% with companies taking domestic earnings cues and australia's asx 200 was a big beneficiary of that positive pmi data. pushing the index up to its five-year high. we'll take a look at chinese banking shares. pang an bank continued its gain of 3.3%. other banks were lower on typening and liquidity conditions. louisa, back to you. >> thank you very much. busy session out of asia. busy session in earnings, as well. credit suisse saying jobs will be lost as it restructures its interest rate trading business following a surprise slide in third quarter revenue. that dropped to 5.4 billion swiss francs. carolin roth was speaking to brady dugan earlier. trading lower by 23.3% or so. banco santander dropping 0.67%. stephane wi

of the chinese for most of luxury goods the famous french fashion brand was sold to a firm in hong kong china is also heavily investing in the u.k. buying shares in london's heathrow airport pumping billions of pounds of the country's nuclear industry and its polyploid to reports next chinese money is already changing the face of the. this time last year it looked like the iconic london cap would be consigned to the history books after it's made because the financially troubled london taxi company went into administration chinese manufacturer g.t. which already owns volvo stepped in and bought the company for eleven million pounds the factory is now back in business this part of the assembly process is called the marriage of the carriage where the shape of the taxi. meets with the shafi of the taxi fare but it's a marriage between the chinese manufacturer and he and the london taxi company that managed to save a british icon from going out of production g.-d's pledged to invest a hundred and fifty million pounds into the coventry based business over the next five years promising to create job

china especially flying from hong kong thank you very much indeed thank you why do a range of social sectors and services are being affected by the political stalemate ninety seven percent of nasa employees i neither wacking all being paid on the agency's fifty fifth anniversary and we spoke to tony jones a full month nasa astronaut to. experience the same thing myself back the last time we had a government shutdown in one thousand nine hundred five and i was an astronaut and i was told i was an essential part of the agency so i did report to work during those days but it is frustrating because everyone has deadlines everyone has a schedule to keep and to be told to just mark time and lose this time and makes everyone feel that they're not they're not able to do their job. and for more now this is where our joined live by juliet supply of a phone listen to michael economic research at suburban pressure state by nick today welcome to our to you so the world's largest economy continues to demonstrate the dysfunctional government what effect does this have on other countries. or actuall