more of us can contribute to the global g.d.p., and the gap between the developed and the developing countries would narrow significantly as productivity rises in economies from haiti to new begin -- new guinea. but that great global dream cannot be realized around the edges of reform, nor candidly can be it be secured through any singular commitment on the part of us here. it requires, however, a fundamental traps formation, a paradigm shift, in how governments make and enforce laws and policies, how businesses invest and operate, how people make choices in the marketplace. the transformational nature of this undertaking that lies ahead is in my view not unlike other momentous shifts in the economic history of our world. in the 19th century, many nations began moving from an agricultural to an industrial economy. then the inventions and mass productions of that era gave rise in the 20th century to the information age and the knowledge economy with an unprecedented rise in innovation and prosperity. as information transcends border and creates opportunities for farmers to bank on mobi

really important for global economy right now and the share of brics countries quite big in the global g.d.p. . a new direction for growth big countries. higher risks in the global economy occupy wall street i know that you guys are used to having protests wherever you go whether it's people who are against globalization or environmentalists that occupy wall street have promised this time to two states protesting can do you think maybe after all these people have a point i mean introducing one person tax or financial transactions and currency trade that's actually enough money to finance most social and environmental that it is in the world i think that people who. go to the streets to send a signal to the governments her point and. the point is that all things that the government should be doing should be related to the people's needs. one example in russia is the creation of international financial. the mosque or some people believe that that's just the plain crease and. it is you know for banks and other financial institutions to florida but. if you. build all financial center in such a w

put the for global economy right now and for the share of brics countries would record be in the global g.d.p. . and you the options are also reconstitute the higher risks in the global economy occupy wall street i know that you guys are used to having franchise so wherever you go whether it's people who are against globalization or i'm by mentalists that occupy wall street have promised this time team to the states protesting climb do you thing maybe after all these people have a point i mean introducing one person tax or financial transactions and currency trade that's actually enough money to finance most social and environmental letters in the world i think that the people who. go to the streets to send the signal through to the governments have a point and. the point is that all things that the government should be doing should be a way to put people's money it's. one example in russia the creation of international financial center mosque or some people believe that just totally your brain creates and. this one for being simpler by the french and confusions to forge but did not. build ou

because gunther so you thought it would be in the global g.d.p. . a reduction in the gross of conscious of the higher risks in the global economy occupy wall street i know that you guys are used to having perhaps are so wherever you go whether it's people who are against globalization or environmentalists occupy wall street have promised this time team to the states protesting can do you thing maybe after all these people have a point i mean introducing one per cent tax or financial transactions and currency trade that's actually enough money to finance most social and graham meant to that it is in the world i think that people who. go to the streets to send a simple thought to the government's whole point and. the point is that all things that the government should be doing currently should be written for the people for me it's. not one example in russia it's the creation of international financial center moscow some people believe that the just a ploy that your brain creates and. this you know for brinks and other financial institutions to florida

but it's gone through record basically in the global g.d.p. . in the direction of the gross be confiscated at the higher risks in the global economy occupy wall street i know that you guys are used to having protests wherever you go whether it's people who are against globalization or environmentalists do you think maybe after all these people have a point i mean introducing one person tax or financial transactions and currency and trade but actually enough money to finance those social and environmental activists in the world i think that people who. go to the streets to send a signal to the government scope point and. the point is that all things that the government should be doing and should be doing to the people for me it's. one example in russia it's a creation of international financial center moscow some people believe they can just get your brain creates and. it is you know for brinks and other financial institutions to florida prison or if you want to build go financial center in such a way when people. go into occupy as a possible fina

brink's gunther's we thought it would be in the global g.d.p. . a new directions but also require students of the higher risks in the global economy occupy wall street i know that you guys are used to having protests wherever you go whether it's people who are against globalization or environmentalists do you think maybe after all these people have a point i mean introducing one person tax or financial transactions and currency trade that's actually enough money to finance most social and environmental that is in the world i think that people who. go to the streets pursuing the second thoughts of the ground and scope point and. the point is that all things that the government should be doing should be a way to put people's money it's. one example in russia it's the creation of international financial center mosque or some people believe that the just story of the brain creates and. this one for brains and the other for something. to forage but there's not if you will i built our financial center in such a way when people real world who were an occu

for the global economy or grateful for the share of brics countries would require a big in the global g.d.p. . in the direction of the gross because distribute the higher risks in the global economy occupy wall street i know that you guys are used to having a purchase wherever you go whether it's people who are against globalization or environmentalists but occupy wall street have promised this time in two states protesting can do you think maybe after all these people have a point i mean introducing one person tax or financial transactions and currency trade what's actually enough money to finance the most social and environmental that is in the world i think that people who. go to the streets and the see can talk to the government's point and. the point is that all the things that the government should be doing should be working for the people for me it's. not one example in russia and its creation from potential financial center mosque or some people believe that that's just totally out of your brain to use and . it is you know for bringing some of the french and the confusion to florida

it's gone through the record be in the global g.d.p. . in the direction of the gross of big consciously at the higher risks in the global economy occupy wall street i know that you guys are used to having for terrorists wherever you go whether it's people who are against globalization or environmentalists do you think maybe after all these people have a point i mean introducing one person tax or financial transactions and currency trade that's actually enough money to finance most social kind of environmentalists that it is in the world i think that people the whole. world to the streets to send a simple tool to the governments whole point and. the point is that all things that the government should be doing should be related to the people's money it's. one example in russia it's the creation of international financial center in moscow some people believe that the just totally of your play increase and. this one for bringing some other financial institutions to florida but that's not right if you. are built of financial center in such a wa

history christine more than seven hundred trillion dollars to give you something to compare that to global g.d.p. on kind of dwarfs that that's about sixty three trillion dollars let's talk about another thing that came out of the housing crisis you talk about derivatives and people knowing hearing that word another phrase that came out of that time too big to fail talk to me about what you've got working on regarding too big to fail and even bigger too big to fail oh yeah christine we absolutely are going to tie that in because the whole concept of ending too big to fail come on this kind of turns it on its head not only it is too big to fail here to stay but it's even worse by something like these derivatives exposure so we'll get into that and look at maybe why banks want to keep it this way and why they have escaped regulation thus far right or a lister thanks so much for letting everybody know what to expect on your show for us that's going to do it but for more on the stories we covered go to argue dot com slash usa also check out our you tube page at youtube dot com slash r t america you

by several times several times china and that you use it's more than global g.d.p. so derivatives are very complicated obviously but this brief overview should do enough to help you understand why they are important and can cause so much damage to. alright so we've gone through some of the serious stuff today now let's go through our take on some of the less serious stuff but still important. so dimitri kovtun as our producer joins us here in the studio as has shannon donahoe who joins us remotely from the control room all right guys so a lot of people have heard about american companies outsourcing jobs to india to other countries like that. obviously hiring in the u.s. as and you know it's a difficult thing jobs are scarce so one solution is immigrants coming here to create jobs and that's what one indian man is doing who he's hiring one hundred people and one hundred days the c.e.o. of this company an indian immigrant believes that he needs to do something about this economy he's decided to do his part so is this a little like how the u.s. government was kind of

out of dollars is how many outstanding notional droege is there are floating around to compare global g.d.p. is about sixty three trillion dollars so not even one of those buildings and one of those buildings one hundred trillion dollars was added in derivatives in just over six months the first six months of this year reportedly the biggest increase in history now in december two thousand and ten outstanding notional derivatives were six hundred and one trillion six months later they were about seven hundred eight trillion now this beat the prior record in two thousand and eight of six hundred seventy three trillion so a lot of numbers to talk about why they've increased so much why so much lately and what kind of damage this could do not to mention why they are unregulated still springing nomi prins senior fellow at think tank demos and at the think tank demos excuse me and author of this book black tuesday and she is in l.a. to talk to us about this i know it's so nice to see you thanks for being in l.a. today. hi thanks laura yes so of course the public at large became acquainted with d

economic activity and this can result in a deterioration of trade relations and a contraction in global g.d.p. so basically that is why many say that currency wars can turn into trade wars which can turn into actual physical wars and that's why you need to know what this means that's a currency war. now as i've been mentioning in the show president barack obama has been traveling through the asia pacific and he spoke to australia's parliament and in that speech he bowed to expand u.s. influence in the asia pacific region even though of course the u.s. is supposed to be winding down two wars not to mention cutting defense spending now he plans to station u.s. troops in australia and reportedly this is to counter the expanding power of china now you can imagine there's a mixed reaction to this news in the region and just by any talk of china's military prowess let's be real in terms of spending the u.s. spends six times as much on defense as china and it trumps almost the entire rest of the world combined when it comes to defense spending so a bigger question could the next war not even be a mi

g.d.p. christopher from troika dialog believes it's not domestic stories but global was try to castrate. a significant factor in this year's capital flight has actually been destroying all revenues the way the central bank or the way the government accounts for those revenues if oil companies are either slaw to repatriate that money or keep it off shore because he can't invest it back home for some time that actually counts as capital flights and other words money earned and not brought back as distinct from when you put in a suitcase and brought them to zurich i think it's parky to do with just the global situation rather than in anything in russia per se people are nervous all over the world to see the euro zone debt crisis could result in a global recession. that's our outfit for this hour but remember you can always find most always just log onto our web site r.t. dot com that's for much. in some cases but all she's available in hotels a story and a little ambassador really some skills he could tell the truth from the soto patricio soto golden golden nuggets.

g.d.p. chris with or from troika dialog believes it's not domestic stories but global goals that are driving the castrate a significant factor in this year's carbon fight has actually been the stronger oil revenues the way the central bank or the weighted government accounts for those revenues if the oil companies are right or slow to repatriate their money or keep it off shore because they can't invest it back on for some time that actually counts as capital flight so in other words money earned and not brought back as distinct from when you put in a suitcase and brought them to zurich i think it's partly to do with just the global situation rather than in anything in russia per se people are going nervous all over the world euro zone debt crisis could result in a global recession and ericsson is celebrating one hundred thirty years of doing business in russia the swedish company has been one of the biggest contributors to the country's growing telecom network president and c.e.o. housewares birth says russia is vital to the success of eriksson's business he also believes there are plenty m