[speaking mandarin chinese] >> translator: and the chinese don't have social security. [speaking mandarin chinese] >> translator: and very low welfare. [speaking mandarin chinese] >> translator: so the chinese -- they keep putting money in their bank. they keep increasing their savings. [speaking mandarin chinese] >> translator: and the government can use the people's savings. we're talking about thousands of billions of yen. people's saves. the government uses it as its own free will. [speaking mandarin chinese] >> translator: the ministry of railway for the government -- [speaking mandarin chinese] >> translator: 1700 billion. >> that's why we see this huge growth, huge development of high speed rails. >> we are out of time. i want to thank mr. yang. [applause] >> is there a non-fiction author or book you would like to see featured on booktv? send us an e-mail@booktv at c-span.org. or tweet us at @twitter.com/booktv. >>> talking to us about the activism of -- a biography who was a lifelong educator and civil rights activists. and my book is about her educational activ

[speaking chinese] >> translator: and the government can get cheap loans from the banks, and chinese don't have social security. very low welfare. so the chinese, they keep putting money int in the bank. they keep increasing their savings. and the government can use the people's savings. we're talking about thousands of yen, peoples savings and the government uses it at its own free will. [speaking chinese] >> translator: for example, the ministry of rail, railway owes the government -- 1,700,000,000,000 yen. that's why we see this huge growth and huge department of high-speed rail. >> well, we're out of time. i want to thank mr. yang. [applause] >> i want to thank our translator, rose tang, the manhattan institute. thank you very much. >> booktv is on facebook. like us to interact with booktv guests and viewers to watch videos and get up-to-date information on events. facebook.com/booktv. >> now, i've been trying for i guess the last 20 something years to stop writing books. [laughter] and they keep, you know, i totally get it out of work for the ancestors. and i sometimes will feel

so i'm going back to chinese every day. i read chinese, a book a day, reading and chinese. in my best days writing english i actually feel like i was fighting chinese. because you see, in the commercial book market i want to entertain but also wanted to walk away with solid knowledge about china because i feel like china has been misrepresented, misread, and i think it's just ridiculous for americans to get the wrong message about and think about china. and i know i'm giving liberty that you see in my stories. especially historical fiction. i'm entitled to do that. but do i want to throw one more, one more rock into the well where it's already at the bottom, to mislead american public further? i choose not to. if my book doesn't sell, if it doesn't be coming to you the satisfaction totally, and i think it's my choice. my book, i discover, for example, with madame mao. nobody wanted because the publisher for red azalea they did not think that the american reading public was embraced story. that madame mao was on trial, sentence to death after 38 years of marriage, and she wa

when you say chinese people, government or all chinese people per? >> all chinese, i think. i visited china in 1993. i talked to many chinese intellectuals, some of whom had studied in the u.s. and europe. i said to them, don't you want to have political democracy in your country? quickly, yes but not because the explosion of anarchy that would emerge from people of self no experience control and a political environment, no idea that you have to restrain yourself and allowing other people to have their opinions, without those constraints among the people, i don't think you are ever going to have a safe democracy in china. >> was it franklin was said that he who forsakes security for liberty will soon have? >> that's correct. >> lots of people do not realize the chinese people had been divided into three major classes. the super rich people, they're less than 1%. of course we don't want to see any change in china because they really enjoy their life. -- they don't want to see any change. chinese] in woman translating] the 10% in the middle class, thei

there are chinese versions of them that are run by chinese companies. as a result the chinese government through those companies can pull the plug at any time. many of the mass and rites are not covered in social media for precisely that reason. there are nine chinese central television channels, some of them are quite interesting. one is dedicated to agricultural news, for example. but, again, all is run by the state. there are no private tv stations. >> host: this is will from franklin, tennessee. on the independent line. go ahead, please. >> caller: thank you. thank you both of you. earlier you were talking about the trade between china and united states. it's pretty obvious that china relies a lot on the economy in the united states and considering how fast the economy is growing in china, does the -- does the united or any other country have any national security concerns concerning their -- if their economy were to collapse? >> host: thank you, caller. >> guest: yes. it's often been said that the only thing more worrisome than a china that succeed

if the chinese economy collapsed. it would be a disaster for everyone, including the united states economy. china is also a major investor in the united states. the gradual appreciation of the currency is the right way to go. host: new york. dependent line. -- independent line. caller: everybody seems to forget china is a communist company -- country. the chinese corporations are owned by the government. that is my comment. how does that play into the economy on a larger scale? need to start: we buying made in america only. host: cheng li, the story that broke last week was with smithfield foods being bought out by a chinese company. guest: first of all, i do not think it is right to call china communist. it is still a communist party in a one-party rule, but the economy is diversified. 50% are not state owned enterprises. to a certain extent american companies are well represented in china. this merger reflects that. theuse of concerns about lack of food safety, they love to purchase or merge with foreign companies,

[speaking chinese] [speaking chinese] >> translator: some in the chinese communist leadership were naturally -- [inaudible] for imitating success for international experience. to ease people's lasting resentment against this massacre by way of redressing and the reparations for the june 4th massacre. that's reduced the instability factors made by the previous leaderships. but the other people in the leadership -- [inaudible] consider concessions to the people as reducing the authority of the communist party that will bring new instability. so they oppose redress and reparation. those two views are causing new conflicts within the communist party, and they have increased the division within the communist leadership. [speaking chinese] [speaking chinese] >> translator: of course, to the communist party this seems not the most urgent -- [inaudible] as the chinese economic crisis looms, as its -- [inaudible] with neighboring country intensify improving their image by -- [inaudible] it's not a particularly pressing problem. it does not appear that the communist regime still considers this as a hi

the chinese just aren't buying big u.s. companies, they're also snapping up statue of liberty hats and the model of the empire state being and how the rise of china is putting cash in the pockets of americans here at home. hoo-hoo...hoo-hoo. hoo-hoo hoo. sir... i'll get it together i promise... heeheehee. jimmy: ronny, how happy are folks who save hundreds of dollars switching to geico? ronny: i'd say happier than the pillsbury doughboy on his way to a baking convention. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> it is not just chinese companies and the government on a shopping spree. did you know that chinese citizens are spreading their cash around the globe? they took eight times as many trips last year as they did in 2000. the chinese citizens out spent every other country. richard roth is here to explain. >> hello. summer weather has arrived in new york city after a chilly spring. >> it is hard not to run into chinese tourists on the sidewalks of new york. large chinese tour group

chinese governments deny these attacks even though there is mounting ed of chinese -- evidence of chinese state involvement. evidence includes a 2013 report that linked attacks on 115 companies based in the u.s. to a unit of the people's liberation army working in a building in shanghai. the increase in attacks has coincided with the chinese government's push for development of key industries creating an environment where it's perfectly acceptable to cheat and steal your way to the top. as we've seen in the last few years, it's not only american companies that are the targets, it's media and human rights organizations, something particularly important to congressman smith and me. journalists writing about corruption in china find their computer systems hacked and their passwords stolen. for human rights organizations and activists dealing with hacking attacks from china is almost a daily fact of life. we can't sit idly by, that's why i support a common sense bipartisan approach to hold china accountable. i urge congress and this administration to do everything it can to combat unfair trad

not the chinese issue. so to a certain extent it's not the only thing china create a sense of fear, and how to find a new way, how to establish international code of conduct, and how to prevent this -- whether it be nation state or some other group or some individuals, to take advantage of this new area of -- new demand which is so powerful so important for the life and safety and many other respects. so i think that the caller really raised some good questions about, we also should be humble -- we, meaning americans -- to look at these issues. >> oo if the nature of the economy is changing in china, with what does that mean for the worker in china? >> guest: it means the previous opportunities now will become more difficult and because of labor costs increase. because of the now china fiber economic miracle become obvious, including economic disparity, corruption, environment pollution, and so the need to address these issues. so economics growth is important but quality of growth also become a major conce

to chinese investment. we've got one of the biggest fields on the table now which is about pork, heaven help us if that can't get through, then the two countries have got a real problem. >> rose: explain that. because the chinese have bought smithfield. >> they have put in an offer for smithfield pork in virginia which i think is the largest pork producer in the u.s. the big sensitive problem in u.s.-china investment has been the supply chain factor, which is why telcoes for example, and-- are so sensitive but in this case the supply chain is clean food going from the u.s. to china. and if that is going through a national security process now, voluntarily by the companies, and i think china wants to see, you know, a very clear statement that the u.s. will not discriminate against china on investm >> rose: so it will be in the interest of the relationship that this deal does not run into the kind of roadblock it did when the on swrekt was an oil company. >> oh, yeah. i mean if this deal doesn't get through t

i -- >> when you say chinese people, government are all chinese? >> all chinese.i visited china in 1993, and i talked to many chinese intellectuals, some of whom had studied in the united states and europe. and i said to them, don't you want to have political democracy in your country? and they suggest -- >> but not at the price of -- >> not quickly, not quickly. because the explosion of anarchy that would emerge from people who have no experience of self control in a political environment, no idea that you have to restrain yourself and allow other people to have their opinions. without those constraints among the people, i don't think you'll ever have saved democracy in china. >> so was it franklin who said that he who would trade security for liberty would have new? >> quite correct. >> [inaudible]. [speaking chinese] >> translator: lots of people did not realize the chinese people have to be divided into three major classes. [speaking chinese] >> translator: those superrich people are less than 1%. of course, they do not what he any change in china because they

from chinese. i think dual citizenship is only allowed for those countries who are friendly to us, so if you're a dual swiss and u.s. citizen, people would think you're going to be harmless. and i -- my understanding is that it's your home country is the country that is considered to be hostile to the united states. it's -- for the most part it's very -- the government won't actually allow you to hold dual citizenship. you either stick with the citizenship you originally had or you renounce and it then become an american citizen. which makes perfect sense to me. >> imagine you're put in charge -- [inaudible] >> well, i would go back to what i said earlier. the think strengthening enforcement mechanisms is very deuntil you do that. the rest of the talk is pretty much just talk. if you're not going tone force our -- to enforce our borders, not going to deport people on a meaningful basis -- for instance, right now, there is a union with the immigration and customs enforcement unit, and those officers

. >> what are the chinese up to now?> if you mess with that software, the airplane won't fly, and the ship might not get to where it was intended to go. talking to cnn. and the chinese president are going to meet next .eek they have a lot to discuss. alleged chinese hacking into sensitive weapons data and an op-ed in the la times on they are saying that china is configuring its military forces to fight hours and there is something very chinaat the core of the policy and the pentagon. charles? beyondink we are way talking. there is a new report in this week showing that to not only are chinese cyber attacks hurting our economy, which we knew, stealing intellectual property, but is doing damage to our national security and arming the chinese with the equivalent to weapons and antidotes to our weapons. this is a national security issue. up until now, we have been doing defensive measures, which the chinese are able to get around. in this war, the offense is stronger than defense. the issue has always been doing counterattac

chinese media say this shows influence has grown. some experts say the meeting give the two leaders an opportunity to better understand each other. >> it's very focused on building up personal relations, improving personal trust, and laying a more solid background and foundation for improving the top-level relations between china and the united states. >> reporter: the countriesave long been at odds over taiwan as well as diplomatic and national security issues. and they've yet to find middle ground on trade friction, the value of the yuan. they don't see eye to eye on cyber attacks either. obama has said the cyber threat posed by china is growing and that some attacks were state sponsored. chinese leaders have consistently denied any involvement. >> china is a victim of numerous cyber attacks, hacking, violations of cyberspace integrity, et cetera. so i think the summit meeting between president obama and president xi jinping is actually a rare opportunity and is an opportunity not to miss for china and the united states to come out

chinese panels have a 80% share of the market. sales of these panels and related parts to eu countries amount to 21 billion euros. this is the largest ever anti-dumping investigation by the eu. china had been urging eu member chinese premier met angela merkle, german chancellor. he persuaded her that it should be resolved through negotiations. >> translator: germany doesn't want permanent import taxes. we will hold intensive talks with china to resolve the issue as soon as possible. >> translator: we hope to resolve the trade dispute between china and the eu through dialog and each other's efforts. >> reporter: britain and germany have openly criticized adopting tariffs proposed. they fear their overall the trade relations with china could be damaged. the european commission denied chinese pressure saying fair trade is in the eu's own interest. >> this is not protectionism. rather it is about ensuring international trade rules apply to chinese companies just like they apply to us. i hope today's decision will now provide the space

the chinese like this dynamic.ering their north korean policies but i don't know if we'll see a fundamental change. >> they like the dynamic of being asked for help. the north koreans have been annoying the chinese senselessly and the fact is that the troubles that the chinese are having with north koreans and the fact that it's been difficult for them to actually ease those provocations has hurt the china/south korea relationship driving south koreans closely toward the u.s., something they assertively don't want to have happen. it's true that there's some informal advisers that have said recently that the chinese have provided a great gift to the united states by getting the north koreans to come to the table on negotiations. the reality is that the gift they brought is the gift of beijing. and we do need to make clear that you guys have a lot more to lose and at stake around north korea than the americans. >> fascinating. i love this ruthlessly pragmatic and deeply avoid and trying to think about how that's goin

company lock, stock and barrel by a chinese buyer. it is just the latest example of china's buying spree in the u.s. chinese investment in the u.s. is headed for another record year. as of april about $10 bon

you have the chinese spy. you have the chinese hacking.this something that they're looking into? >> they certainly have to be looking into it. it could be that he was a spy for the chinese beforehand. it could be that he decided i'll have some information that i can trade to the chinese after the fact to buy sanctuary there. in either case, you don't want a guy if he has, you have the question of how much he has got. some of the information he said had so far, he had the ability to sit at his desk and wire tap the president. vice president cheney doubts he had that capability. some of that was exaggerated. whatever he had, you don't want a former private contractor inside the super secret nsa giving that information up to the chinese in return for a safe haven. >> yeah. some of the critics saying some of this guy's claims are absolutely off the wall, kind of wild. what about the nsa surveillance programs. mr. chip any credited by some or accused by others as largely being the architect of some of this after 9/11. >> he feels so strongly ab

have a great weekend. >>> so, it's not just chinese companies and the chinese government on a shoppingt chinese citizens are also spreading their cash around the globe. they took eight times as many trips last year as they did in 2000. chinese citizens outspent every other country. richard roth here to explain. >> hello. that's right, summer weather has arrived in new york city after a chilly spring. and that also means tourist season. growing more visible on the street and tour buses, tourists from china. a country providing an increasing number of visitors to new york and the usa. >> it's hard not to run into chinese tourists on the sidewalks of new york. large chinese tour groups are everywhere and ready to spend. from lady liberty in new york harbor to the top of the empire state building, the chinese tourist is ever present. >> translator: we actually see new york city all the time in the movie and tv. and we really want to come here. >> how come you don't have a sign in mandarin saying beijing this wake? >> because it's right here in new york city with us. >> first, it was chines

from that legion there's a chinese melody that originated from all the women in 1923 and that chinese melody later became the theme for the butterflies violin concerto. i honor this from china representing the generation of my grand parents who were chinese immigrants in the united states. i trofrm this in an expression of my own. >> don't confuse me. (clapping). ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ in ma ♪ ♪ ♪ ♪ in (clapping) >> after my father died in a two airplane collision over the grand canyon my mom had to singularly raise my sister and me and rogers and hammer stevens you'll never walk alone it has carried me throughout my whole life. i recovered the meaning of you'll never what can alone when i was for church services at a black church. the first time the black congregation sank thomas a doris sister take my hand precious lord i heard the lyric through the symptom and i connected the words when you walk through is a storm. i how were you this song you'll never walk alone the the soft united states representing the generation of my parents, my father a chooindz

there are chinese versions of them read a chinese companies and as a result the chinese government can pull the plug on these things at any time. many of the riots and things are not covered in social media for precisely that reason. there are nine chinese television channels. some are quite interesting. one is dedicated to agricultural news, for example, but always run by the state. there are nope private tv stations in china. >> host: this as well from franklin, tennessee with dean cheng. go ahead, please. >> caller: thanks, both of you. earlier you were talking about the trade between china and the united states and it's pretty obvious the economy in the united states and considering how fast the economy is growing in china, does the united states or any other country have been a national security concerns concerning a fair economy were to collapse? >> guest: yes, esophagus that the only thing more worrisome than a china that succeeds as a china that fails. china is a country of 1.3 billion. if the economy collapsed or shrink significantly, we be seeing several things. population mo

with respect to the chinese impacts our ability to enforce fairness on the chinese side with regardsonomics. there are pieces of this and the chinese themselves write about their own comprehensive powers in a way that doesn't even make the distinction between the two and so talking to the senior leaders about the impact and economic development automatically to see the connection to the defense of their own country, as we should as well. i don't think anything is to be gained by separating issues and we have greater power to influence them by connecting them together and not allowing them to be treated separately. >> thank you, mr. chairman. as we look at the efforts to address this, how are we doing with dhs and the fbi and others. are we working well together and can we improve that? >> we have some important and difficult themes that continue to redouble the way we do things. in other countries that don't have our particular legal and bureaucratic system think we have an advantage. struggle between domestic cybersecurity under dhs and where that boundary line is to not end on cybe

park had spoken earlier to chinese and south korean business leaders. she quoted a chinese proverb that making friends brings success in business. >>> the father of the american intelligence leaker edward snowden says he does not think his son committed treason. he went on national tv to explain how he sees his son's actions. >> he has betrayed his government, but i don't believe that he betrayed the people of the united states. >> the elder snowden said he does not want to put his son in peril but is concerned about people around him. he said he hasn't spoken to his son since april but fears he's been manipulated by the anti-secrecy group wikileaks. the elder snowden said he told u.s. attorney general eric holder, through his lawyer, that his son might return voluntarily on certain conditions. he said justice department official would have to agree not to hold his son before trial and keep the public informed. >>> foreign ministers from the asean nations will soon be sitting down to discuss some of the challenges they face. they'll be sharing the table

chinese markets have been volatile this week. short-term interest rates have surged touching off fears that higher rates could force financial institutions to run short of funds. he said monetary authorities will continue to monitor financial institutions and try to keep their lending practices and balance sheets. they will guard against easily lending to prevent a fixed asset bubble. comments gave some relief to the markets. shanghai stocks finally staged a rebound from the previous seven straight sessions of closes. closed at 1,979 jumping 1.5%. it was the best percentage gain in two months. however, for this week the main benchmark tumbled 4.5%. this is particularly due to a 5.3% nosedive recorded on monday. the market players remain nervous about instability in the domestic banking system throughout the week following a jump in short-term interest rates. this is soon to be impacted by views that beijing aims to crack down on informal lending outside the banking system also known as shadow banking. analysts say chinese leaders

the chinese are dependent on us for trade. the chinese are our largest overseas financier. we are mutually dependent on each other. suspicion surrounds both of us. let's talk about one of the big areas of suspicion, it china's territorial aggression recently. could that be a huge problem? >> i could see a flashpoint and the chinese are worried about the u.s. so-called pivot to the pacific. they are also concerned about what they view as the u.s. embarking on a policy of containment against china. -chinese problem is something that could be a flashpoint and both ourselves and the chinese, i think, need to some sort of modus operandi on that. >> do you see anything concrete coming out of the meeting? >> i think it is more about building trust and understanding the strategic situation of each country. we are trying to deal with a rising china, a rising power. the chinese are learning to deal with us. what do we want in the pacific? those are the questions they are trying to answer. >> if you had to guess, what will president obama if his chinese counterpart? >> i would advise

chinese. i was in china a month ago, and i talked to the vice foreign minister and said the major issue between us is hacking, cyber hacking, cyber theft, cyber espionage, you're doing that to us. he brings eld and he said, no, no, no america is doing that to the chinese. up until r-r's visit there was no proof ountil snowden's visit there was no evidence of that. who i think they are very emboldened and think they can slap us around as much as they like. jenna: where are our friends and allies? who else is speaking out on our behalf? nobody us. they see the russians and the chinese can do that and humiliate us. they are going to be silent on the sidelines. when they do that to us now, maybe iran does it next, an venezuela and then countries like cuba and ecuador. they think it's open season on the united states, they have the president's number and they are going to exploit it. jenna: what to make of the silence from our friends is a topic we should talk more about. thank you very much f time

you work with chinese companies. my assumption is that chinese food that comes into the united states would be subject to exactly the same standards of quality as the domestically produced stuff. and we already get shrimp, tilapia, other kinds of products from foreign sources, and i assume that they have to meet our standards, too. >> well, it's true, but it's also true that foreign product is subject to higher standards importantly from the standpoint ofnf resource allocation at the ports of entry, only about 1.7% of products offered for import are subject to examination. so even if you multiplied that by ten, you would have four entries getting in without exam for every one that is examined. so single out the chinese is unfair. but from the standpoint of national security, it's certainly true that food infrastructure has an impact potentially on national security and the congressional review that will ensue under the foreign investment, national security act could, on the floor debate, use a populous approach to th

and the chinese need a lot of help, too. think, of managing the competitive problems and focusing on common interests. >> yeah. i mean, clearly, you know, the takeover of u.s. properties of smithfield could have been big news this week, tim. but i wonder, because of what tom was talking about with some of those issues, are they going to tread fairly -- i mean, look at hacking, okay, first of all. are they going to have a frank discussion about that or is that going to be side stepped? >> they're clearly going to have to talk about the hacking issues, so much coverage of it in the media. but it would be unlikely for us to expect any major breakthroughs in that. actually, i would say the temperature is pretty high on this, it seems to me in the u.s. in particular. and hopefully this discussion between president obama and president xi can lower the temperature a little bit, take a step back from the political heat that's been thrown around on this issue and work out what practical steps the two sides might be able to engage in

> andersen said chinese involvement is essential. he said greenland wants to deepen ties with china, while paying attention to environmental protection. >>> time now to take a look at the market figures. >>> more and more people in industrialized nations are developing food allergies. there has been a corresponding increase in the number of deaths. nhk world has the story. >> reporter: last month children with food allergies gathered to publici publicize. a 7-year-old girl in the state of virginia died last year after eating a peanut, a food she was allergic to. since then parents, schools and legislateers have taken steps to avoid accidents like that. they are trying a variety of methods. at this nebraska elementary school students fingers are scanned to identify children who have food allergies. first grader is allergic to peanuts. whenever he is scanned the computer flashes a warning. >> this comes in very handy especially at the beginning of the school year when we have new kids coming and i don't know the kids that well. >> repo

he is the first chinese human rights activist to address the chinese legislature. chen is known for exposing abuses in china, including forced abortion. he escaped house arrest in shan done province in april last year. he made headlines worldwide when he flew to the united states after seeking refuge in the u.s. embassy in beijing. he has been visiting taiwan since sunday. chen took note of taiwan's successful transition to democracy and criticized china's one party rule. >> translator: the chinese communist party claims that democracy does not suit chinese society. but this is an excuse to it hold on to power. >> chen said corruption and per accuse are rampant under china's dictatorship. he called for a shift that attaches importance to human rights. chen's scheduled meeting with the head of the legislature, wang schenn ping was cancelled. >>> representatives and opposition forces are no closer to sitting down for peace negotiations. the u.n. and arab league envoy -- ending the countries civil war will happen any time soon. >> frankly, i now doubt whether the conf

that chinese goods being sold were of bad quality. so rightly or wrongly, people have a bad impression or image of the impact of economic relations with china over the years, but i think the government understands that it has to balance these things, that it should have the best possible relationship with the united states, with japan, with europeans, but it cannot do this in a way that would antagonize china. it's going to be important not just for the next ten years, but for the next 00 years as well. the pipelines are for oil and gas. for china, for beijing, this is incredibly important. it's important for the development of the southwest, but it's important strategically as well. the from the chinese side it's been like a dead end for a long time. if that dead end suddenly becomes a crossroads, then the potential not just for economic development but also for much greater relations between people on either side, cultural reasonings, everything else, it had change the whole map of asia. the country's going to become or is becoming

we'll break it down next, chinese ipos. >> brad pitt's new zombie movie "world war z," the chinese don'tike it at all. it's been rejected. will the ban leave the bottom line undead, or let me ask you this, will it only spike interest ?t movie? we have the story coming up. ♪ we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ liz: how is this for return? year over year of an online retailer, 432%. yes, this is a chinese company that went public over the past couple years, and do you get excited when you see chinese @%mpanies going public thinking you can get in on the ground floor? there's a number of chinese companies reportedly considering u.s. stock exchanges for initial public officerrings. soon, all in

they will continue to have strong chinese partners.ne has to look at a market like china as investing in stages. and i think many of the companies who have been there for a long time, like volkswagen and seemens, nestle, constantly reassess what their business footprint is, how their ownership and their role model works, and i think that's going to continue to evolve. remember, it is a population of 1.3 billion people, and the reality is, "a," you've got to be in china, and "b," you want to be able to control your business in china, or at least control who your partners are in china. >> which is the important thing. john, thanks very much indeed for that. we're in the busy hallway here. >> i know. i mean, charles just appeared here. i thought we were going to get charles -- >> we were going to try to get charles. he flew away to do some business deal, so. >> well, next time. and then you would be able to have a three-way conversation with charles. >> good to have you here, john. thanks very much indeed. >> good seeing you again. >> tha

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is there any evidence the chinese or russians want to do that? >> absolutely.now and forever more part of military planning. we saw it in estonia, the russians went in because they took a statue of a soviet soldier down from a square, they did a very vicious and effective cyber attack. they prepped the battlefield, if you will, before they went into georgia before the cyber attack. they will launch an aggressive cyber attack when we're in conflict. what should worry people, yes, chinese have the capability, yes, russians have the capability, but now who is creeping up, iran, south korea. still a ways behind. >> south korea, an ally? >> excuse me, north korea, apologize. thanks for the correction. >> i was going to say south korea. >> hope they have defensive capability. >> you're saying iran and north korea have what? >> well, they're gaining in capability and they're not rational actors. china isn't necessarily going to shut down the electric grid unless we're in conflict, can't say that with iran or north korea. you have seen the iranians are on our shores, p