economy the startup will be jointly run by the russian direct investment fund and the china investment corporation in trouble ready allocated one billion dollars for the project at least seventy percent of the funds money is expected to be invested in russia and former c.i.s. countries the fund is planning to start next year and china has just announced its canceling trading fees for ruble bridge. russia looks likely to post a budget surplus this year i include prices of balancing state spending which has risen and election year the relatively healthy outlook is likely to continue in two thousand and twelve unless the oil price crash is as good as love to support it from deutsche bank explains. even with a significant increase in fiscal spending ahead of the elections at the end of this year there is a very high chance that russia will have a moderate but still a fiscal surplus by the end of this year in terms of the year two thousand and twelve the possibility to attain the surplus is also there obviously oil prices will have a lot to do with that but my sense is that given that we're going to be

to beijing the start will be jointly run by the russian direct investment fund and the china investment corporation each has already allocated one billion dollars to the project at least seventy percent of the funds money is expected to be invested in russia and the former cia as countries. now also russia and china have finally sorted out their long lasting run over all transportation tariffs that's according to deputy prime minister. chinese c n p c underpaid russia's transit round around twenty five million dollars for supplies claiming the transportation is too high now earlier translated threatened to go to court if chinese partners didn't pay their bills and for now russian officials say all the claims are brought that will be settled however another energy deal the long discussed gas supplies remain unresolved and the two countries town agree pricing. is most culpable. unless the build a liquid creation plan which is nobody so far they don't have a substantial interest in gas because gas is not the kind of commodity they can the need to consumers and if they can move consumers they want to b

the world the start up will be jointly run by the russian direct investment fund and the china investment corporation each have already allocated one billion dollars for the project least seventy percent of the funds money is expected to be invested in russia and form a serious country planning to start work early next year russia looks likely to post a budget surplus this year crude prices are balancing state spending which has risen in the year you grossly healthy outlook is likely to continue twenty twelve unless the oil price crash is a warning from experience even with a significant increase in first call spending ahead of the elections at the end of this year there is a very high chance that russia will have a moderate but still this will surplus by the end of this year in terms of the year two thousand and twelve the possibility to attain a surplus is also their r.v. asli all prices will have a lot to do with that but my sense is that given that we're going to be in the post the left will first call landscape after the elections there's going to be easier to control fiscal spending and bad i t

beijing the start up will be jointly run by the russian direct investment fund and the china investment corporation each has already allocated one billion dollars to the project at least seventy percent of the funds moneys are expected to be invested in russia and former cia s countries. well in further effort to boost trade beijing has just announced that its decided to cancel exchange fees between the u. one and the room to talk more on this i'm now joined by jacob now chief economist for morgan stanley russia thank you so much for being with us thank you so do you think that russia and china are actually moving one step closer because they've just counsel bees in establishing direct exchanges between the route the ruble and do you want are they moving to full converts ability it's a bit early to say that i think that there's two big reasons why fool you one convert ability is maybe five years away the first is that currently the what you earn is undervalued if it was traded at its free market price it would probably appreciate by twenty to thirty percent and you can see that in the big current k

beijing the start out will be jointly run by the russian direct investment fund and the china investment corporation each has already allocated one billion dollars to the project at least seventy percent of the funds money is expected to be vested in russia and a former cia as countries. and then further effort to boost trade beijing has decided to cancel exchange fees between the u.s. and the ruble however despite the increased trade volumes jacob now chief economist from morgan stanley believes full convert ability the u.n. is still some way off. the two big reasons wally fool you and convert ability is maybe four years away the first is that currently the un is valued if it was traded at its free market price it would probably appreciate by twenty to thirty percent and you can see that in the big current account surplus is that china runs they've started to look at the one appreciate again or for a couple of years where they held it for during the crisis so in the last two months the un has appreciated against the dollar whereas the ruble and most of the emerging market currencies have fallen sha

to beijing the start up will be jointly run by russian direct investment fund and the china investment corporation each has a way allocated one billion dollars to the project at least seventy percent of the funds money is expected to be invested in russia on the c.i.s. conscience. also russia and china have finally sorted out their long lasting row over all transportation that's according to deputy prime minister. chinese see n.p.c. underpaid russia france dance around twenty five million dollars for all supplies claiming that transportation fee is too high an air tran's near threatened to go to court if chinese parties didn't pay their bills and now russian officials say all the claims are dropped and that that will be settled however another energy deal along discussed gas supplies remain unsolved as the two countries cannot agree on pricing. guess is most probable. unless the build. cation plan which is no good gave so far they don't have a substantial interest in gas because gas is not the kind of commodity they can store the need to consume it and if the consumer they don't want to be been wi

to beijing the star will be jointly run by the russian direct investment fund and the china investment corporation each has a re-allocate of one billion dollars to the project at least seventy percent of the prize money back to best former c.i.s. countries. now in further effort to boost trade beijing has decided to cancel an exchange between the e.u. and the world however despite increased trade volumes take an l.t.e. conference from morgan stanley believes that for converted goody for the u.s. . this two big reasons warry full converse ability is maybe five years away the first is that currently what you were on is value which if it was traded at its free market price it would probably appreciate by twenty to thirty percent and you can see that in the peak current account surplus is that china runs they started to let the one appreciate again for a couple of years when they held it for us and during the crisis so the last few months the u.n. has appreciated against the dollar whereas the ruble and most of the emerging market currencies have fallen sharply so it intil it gets to a fair market val

dollars according to the russian government what is good about don we deal with china i use that cheney's investment corporation phrase very good experience saying the best in all similar phones elsewhere woodwards and therefore expertise comes along the money lots of it's going to bring the home this is the benefits it's from bring it along here for a good deal so basically china is more expert than the russian it's a woman she has not completely taken carol to china and chinese investments for the longer term perspective and not shop on perspective and lots of looking for high return on immediately it's a lot of money it's possible to invest that it's money in good in in the longer term investment projects will generate in the polls but not immediately. in the future that would benefit russia long term economic growth as far as would benefit china how long do you think that would be if you talk about long term ten years well it's a problem that major fronts usually private equity firm don't have a rise in or far for twenty years so a priest is ok well thank you alexander for for sharing these thoughts with us

in the russian government what is good the bollard start of a deal with china ninety years of it cheney's investment corporation has a very good experience in the best in of a similar farms elsewhere wald's and therefore expertise that comes along there for monny is what's abuse can bring the around this is the benefit system but in the long before we deal so basically china is more expert then then russia and that's the moment yes definitely and they can count with china and chinese investments have a longer term perspective from not shutdown perspective and lots of looking for hybrids on immediately it's a long term money it's possible to invest this money in good in in the longer term investment projects generate that of dollars but not immediately. in the future that will benefit russian long term economic growth as will benefit the china how long do you think that will be if you talk about long term ten years well it's a private that with your friends usually private equity firm does have a time horizon or five to turn the soul at this part is ok well thank you alexander for for sharing these thoughts with

ensure that we see our jobs exported to china, such that the corporations that are buying our policy makers can continue to accrue the profits from their investments in china. this is just one of the endless reasons, as you know, why all of us, 175,000 partners, you can see we just clicked 175,000, have decided to align around the singular agenda for 2012, of getting money out of politics, to end the auction of our government. we'll get more on get money out and what you can do to help get involved in broadening that message over the course of the next year, later in the program. but for now, let's talk about china. first up, democratic senator sherrod brown. he's the lead sponsor of the china currency bill. he says china is bullying the u.s. on trade and pricing, and first off, senator, where do you stand in the very simple matter of votes? >> we're in good shape, with 62 senators voted for the -- last thursday morning, voted for cloture, in other words, to end the debate for tuesday's vote. we only need 51. we got 62. that, i think, obviously looks in good shape. there'll be some -- there was some pretty vigorous lobbying over the weekend. i spo

investment corporation each has already allocated one billion dollars to the project at least seventy percent of the funds money is expected to be invested in russia or the former cia as countries china is cancelling e.u. one ruble trading fees as it becomes russia's top trading partner russia looks likely to post a budget surplus this year high crude prices are balancing state spending which has risen in an election year and a relatively healthy outlook is likely to continue twenty twelve unless the oil price clashes as the us lobby somebody from deutsche bank explains. even with a significant increase in first core spending ahead of the elections at the end of this year there is a very high chance that russia will have a moderate but still a first for surplus by the end of this year in terms of the year two thousand and twelve the possibility to attain a surplus is also there obviously it will prices will have a lot to do with that but my sense is that given that we're going to be and the post electoral fiscal landscape after the elections that's going to be easier to control fiscal spending and that i think bodes well for the payment of relatively good fiscal outcomes possibly eve

the chinese currency by tippingally them china if i can say incentivizes the foreign s corporations to shift production because of a this is the price co of investings exports cheaper. this continued evaluation i used the percentage 25% some say it may be as high as 40% but in clearly is in that range of their cheating their gaming the system 25 to 40% think about it in ohio and pennsylvania that have a lot in common.ommon. speak about a company think of to gas stations in oppositeone corners one buys its oil 25 for 30 or 35 or 40% less extensively to the price of the competitor th across the street that is what is going to happen to a guhat' competitors will go out of business and that is what has b us caused the phenomenon harm in the u.s. economy and cost american jobs. in in '93 the currency was valuedued approximately 5.5 to one u.s. one u.s. dollar. then from 1995 to 2005 was valued about 8.28 without change during that period that can be -- it one of two things. o a huge cut incidents of manipulation the trade deficit manip with china of 93 was about 30 or $30 $40 billion in that range todayrange. we run a deficit eight or nine or 10 tons of

china central television a reporter and photographer here. cameras were barred when bill clinton gave his address. his $150,000 appearance fee was paid by corporate sponsors. they have money now to invest. >> chinese people are interested in investing in america but they need a lot of advice and they are mystified by the process. what do you have here is the largest gathering of chinese business but a huge gathering of people in the u.s. >> so what are they spending it on. american grown ginseng. >> besides american ginseng and also cloud computing, and finance. >>> hard rock rescue, coming up people who have come to the bay area to escape persecution overseas because of their faith in music. >> and new product promises to electronically hide your mobile phone but does it work? "7 on your side" is coming up. >> today's warmup giving us a glimpse of what is to come. i'll have a warmer forecast coming up. >>> plus, the man who kicked his way to college [ female announcer ] at jcpenney we're giving you a big thank you this friday & saturday. get an extra 20% off when you use your jcpenney rewards credit card. don't have a card, you still get an extra 15% off. no exclusions. go to jcp.com

also need more investment from china, which is, after all, sitting on over $3 trillion in foreign exchange reserves, much of it in u.s. dollars, with billions more in the hands of corporations eager to invest here and become global companies. and why wouldn't we want those dollars back? to be invested in productive ways to create american jobs, and boost the american economy. that's why we should be more open to chinese investment. but it's also why chinese investments would be on a sounder footing here if they helped to establish good jobs for american workers. for its part, china wants a fair shot at u.s. markets, too. the chinese want policy change that will allow better access to technology, for one, and for another, a clear, more predictable process for investing in the united states. both nations can help themselves and each other to succeed for mutual benefit, but to do this i believe we need overhaul the trimwork that guides our economic relations. how? i've worked with chinese leaders for nearly two decade, as a banker, as treasury secretary and conservationist, and reflecting on those experiences, i disstilled them into five essential principles, and by the way, t

also need more investment from china which is, after all, sitting on over $3 trillion in foreign exchange reserves, much of it in u.s. dollars with billions more in the hands of corporations eager to invest here and become global companies. why wouldn't we want those dollars back to be invested in productive ways that credit american jobs and boost the american economy. that's why we should be more opened to chinese investment, but it's also why chinese investments would be on a sounder footing here if they helped to establish good jobs for american workers. for its part, chinaments a fair shot at u.s. markets, too. the chinese want policy change that will allow better access to technology for one and for another, a clearer, more predictable process for investing in the united states. both nations can help themselves and each other to succeed for mutual benefit. to do this, i believe we'll need to overhaul the frame work that guides our economic relations. how? i've worked with chinese leaders for nearly two decades as a banker, treasury secretary, and as a conservationist, and reflecting on those experiences, i've distilled them into five special principles, and by the w

also need more investment from china, which is, after all, sitting on over $3 trillion in foreign exchange reserves, much of it in u.s. dollars, with billions more in the hands of corporations eager to invest here and become global companies. and why wouldn't we want those dollars back? to be invested in productive ways to create american jobs, and boost the american economy. that's why we should be more open to chinese investment. but it's also why chinese investments would be on a sounder footing here if they helped to establish good jobs for american workers. for its part, china wants a fair shot at u.s. markets, too. the chinese want policy change that will allow better access to technology, for one, and for another, a clear, more predictable process for investing in the united states. both nations can help themselves and each other to succeed for mutual benefit, but to do this i believe we need overhaul the trimwork that guides our economic relations. how? i've worked with chinese leaders for nearly two decade, as a banker, as treasury secretary and conservationist, and reflecting on those experiences, i disstilled them into five essential principles, and by the way, t