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want to check in with hampton pearson who's been covering the story late into last night and early this morning. hampton, good morning. >> good morning, carl. as you mentioned, tumultuous debate. really went on all weekend. this whole orchestrated strategy, particularly on the part of president obama and the white house, focused primarily at trying to get wavering democrats to come home. >> the republicans wanted what i call the fox's guard the henhouse approach, in which we further deregulate the insurance companies, and let them run wild, the notion being somehow that that was going to lower costs for the american people. i don't know a serious health care economist who buys that idea, but that was their concept. and we rejected that. because what we said was, we want to create a system in which health care is working not for insurance companies, but it's working for the american people. >> and to the bitter end, the republicans and their allies, both inside and outside the capitol, stuck to, again, some core arguments on their side, as well. number one, about what this meant in terms

. >> thank you, hampton pearson. in is indeed a question, what to do with china. let's bring in cnbc contributor ron insana, and david from analytics. i think that you want to be aggressive with in on that front, so i will start with you, what does that mean? explain? >> it means to naming china a manipulator in the first place. it is in the law and last used in the first term of the clinton administration and not used since. the u.s. is saving a lot more, privately, that is, and the government is spending more, but there is a lot more savings. we are financing our own deficit a lot more than we have in the past, so the idea that china will sell everything they own that would hurt themselves and that there is nobody there to fill the gap is misleading. >> not a valid argument. >> not a valid argument. >> so let me establish what you want to do. name them a currency manipulator and what goes along with that? what makes china change? >> that kicks in higher level discussions. there are discussions taking place with strategic economic dialogue talks started by the fo

let's go to hampton pearson. we are all confused. you have to straighten us out. >> we know that china's currency may be undervalued by as much as 40%. that's got lawmakers getting hot under the collar. >> this is an absurdity. how we also know that china exports five times as much the united states as we export to china. we have leverage over china to insure equity. >> panel trade experts told lawmakers the obama administration should declare china a currency manipulator when they issue the next report on april 15th. >> reevaluation of the chinese and otherati asian currencies a the most cost effective steps that could be taken. it would be the most important of the president's national export initiative. >> but there is however a risk of a backlash. >> the chinese authorities are spoiling for a fight. and the united states congress must be very, very careful about giving it to them. we should be careful that the market reaction to a trade war or currency war between the united states and china does not exceed in its negative effect

hampton pearson takes a look at what is maybe the next great hope for manufacturing sector. >> well, we saw an industrial port complex north of philadelphia and green manufacturing is a key part of the turnaround story. now, they are still demolishing steel mill facilities that have been in some cases around since the 1950s, be through are two new green manufacturing stars. first, ae polysilicon which makes key ingredients in solar panels and they got a $45 million renewable tax credit. they have the potential to create a new market and millions of jobs. competition for green manufacturing is fierce not just in the states, but worldwide. >> in bucks county, pennsylvania, we are competing against other folks in china, europe, and other countries that are basically competing with us to create these new job, and jobs of the future. these are the green-collared jobs. >> and the other catch gamesa is the number two wind turbine company in the world building its first u.s. manufacturing plant in pennsylvania. down the road, other renewable possibilities a biodiesel plant, and landfill reco

hampton pearson tracking the hearing on capitol hill. hamp? >> good morning, mark.e no mistake about it, for lawmakers, china's currency, what some lawmakers say may be 40% undervalued, is the hot-button issue. late yesterday, senators chuck schumer and lindsey graham said they'll put on a full court press for higher tariffs and sanctions in the coming months if china doesn't revalue its currency. as we look in on that house ways and means hearing just getting under way, remember that april 15th will be the next opportunity for the treasury department to declare china a currency manipulator. president obama has said he favors a stronger yuan. law majmakers say it's time for actions to speak louder than words. >> there's hesitancy within the administration, but that hesitancy cannot lead to doing nothing effectively. and china says anything that we do that would be effective is, in quotes, protectionism, but it is really china that has been protectionist in terms of its trade policy and its currency policies. >> and of course, currency value is not the only issue. th

hampton pearson is in pennsylvania today where we know steel was once king.hat was a long time ago though. >> reporter: a long time ago. we're north of philadelphia on a 22-acre side that used to be a u.s. steel mainstay built in the '50s and employed up to 10,000 people out here. a lot of the remnants of the demolition are clearly visible going on all around us as the transformation to green manufacturing success story begins to gather momentum. they are building on the leftover infrastructure that includes power plants, a deep water port and rail access and frankly there are two very prized tenants. we're standing on the grounds of a spanish firm that's a wind turbine and energy giant. they made $34 million investment on this site to begin manufacturing parts for wind turbines here in the usa. now, the other startup is a solar material manufacturer producing key ingredients inside solar panels. what did it take to get these folks here? 12 million in loans, grants and tax breaks. neither of the new firm will pay property taxes until 2018. >> you can see how