/china relations, david hale, chairman of his own firm, david hale global economics; and donald straszheim, head of china research at the international strategy and investment group. gentlemen, welcome to the program. don, let me begin with you. before we get into the details of what china might or might not do about its currency, tell us why a revaluation-- revaluation of the chinese currency is so important to the u.s. economy. >> well, it's the exchange rate between the goods that we buy from china to import here and the goods that we sell to china that they buy from us. and the u.s. and china are the g -- the most important economies in the world, the most important bilateral economic relationship. and anything that affects it this relationship affects jobs, it effects inflation, growth, that's why it is central. >> david s that how you see it and what's in it for china? >> well, the odds were very high that china would have revalued its currency because it has a growing inflation problem. the a a year ago the inflation rate was negative n april it is 3% and by june or july it could be

who was telling the truth, was clinton involved with the madison guaranty scams with mcdougal and david hale if she wasn't going to talk i think more pressure would have been put on webster hubbell for instance to try to get him to talk. >> host: that's another arkansas figure that came to washington, d.c. that it's a good deal of attention. it strikes me that as the developments occurred in real time those of us watching them were eager to know what was really going on and i think this is something that you achieved. you talked to mr. hubbell obviously you'd report he was prosecuted almost three times. >> guest: indicted three times. >> host: and served time in jail as well. what you think about the web, hubbell, clinton relationship? >> guest: they were close friends. hillary clinton worked with him in the world firm. there was vince foster, hillary clinton. it was a shock when it turned out that he was milking the law firm and hillary was a fact of that so that was a total shock. to his credit, web hubbell is one of these people i've spent a good bit of time with him. he has really come t