model hong kong is rated by the economic freedom of the world and x. and the end of economic freedom as the freest economy with the least amount of government intervention in government spending and taxes that's the model we should be following unfortunately bush and obama and geithner and the fed are following this model of crony capitalism of corporatism of having the special interests in washington sort of this corrupt it we've all heard of the iron triangle this is an iron rectangle because it's bureaucrats lobbyists politicians and special interest groups all getting rich at the expense of the american people that should outrage and upset everybody and it happens unfortunately not just in america it happens in europe with the special interests and i worry it is happening in china where you you know as they make this evolution to a free market system that's been great hundreds of millions of people having higher living standards but i do worry there still are these improper relationships between the powerful and the government tilting the playing f

discuss global currency imbalances i'm joined by martin henniker in hong kong he's an associate director at the tykes group in washington we go to daniel mitchell he is a senior fellow at the cattle institute and in new york across the michael hudson he is president of the institute for the study of long term economic trends and another member of our cross-talk team on the hunger all right gentlemen cross talk rules are a fact that means you can jump in anytime you want martin you've been on the program before so i'm going to go to you first all right before they were right on the eve of the visit of the chinese president to the united states and tim geithner joe a few days before through the chinese a bone as it were saying you know well maybe we'll consider our ban on selling high technology. products to china as kind of a you know a sweetener to kind of nudge the chinese along to appreciate their currency a little bit faster do you think this is the chinese will bite i mean is this just a snow job because the u.s. doesn't have a lot of leverage here. first of all clearly more and more

that's the element that has not been introduced into this discussion is tax policy hong kong got rich basically by the nineteenth century ideal of having a real estate tax a land tax rather than taxing labor in the united states the tax has been shifted off real estate basically on to labor and industry and this is not lowered the price of american real estate because the rental value has been paid to the banks instead of to the government and the un taxing of real estate in the united states in contrast to hong kong has rendered american cost of living. and doing business much more high priced ok the quote i were almost out of time you know anybody want to give daniel a last word go ahead the u.s. used to have a good argument against china about currency manipulation but because of things like killie too because we're engaging in this reckless inflationary monetary policy the us doesn't have any moral standing so i suspect that we're not going to get any agreement that out of this meeting between us and chinese leaders because both of them are probably doing something wrong ok m

our friend in hong kong to suggest that the u.n. was not involved in suez actually it was the un that put in peacekeepers in some way as in order to force the british and the french and the year israelis to withdraw and and make that settlement. work at least for a period of time and on iraq yes it is true that bush sent the u.s. troops in without u.n. authorization and what he found is that he was totally isolated in iraq because none of the other countries in the world were except for a few maybe great britain were really supporting what he had done and so what did the george w. bush do he went back to the u.n. to get a resolution out of the security council to giving him the gentleman safe to walk your pie that country why did he do that because he realized that without that u.n. resolution he would not get worldwide support and as for the conflicts that the other speaker mention the congo the u.n. has troops in the congo is trying to bring peace there i mean come on give the u.n. credit for what it's trying to do it can't settle

system peter in hong kong if i go to you first on that. no i think in theory it's very democratic with the general assembly and trying to expand the security council doesn't make any sense to me the un is built on what was one of new york's premier to ours and i think the un should be buried right there and start with a new global organization that is representative of the world today not the world of one thousand nine hundred forty five and i think we can replace the organization or restructure it completely and i wouldn't even call it a united nations because it is anything but united i think that is one of the greatest misnomers of all international organizations what i have proposed in my book us to make knowledge was an inter local security council where you basically have the major civilizations represented at that level namely china russia america india and then representatives of all the other civilizations europe. via the e.u. or latin america the organization of the latin america or organization of american states you can have af

explaining to my friends in hong kong what that meant. that was extraordinary for them to understand as well. by no means is if international event. it is what gavin has often told us. it is several world series events, several super bowls put together, strung together. i also know that it is not just a one-day event, as you all been educating yourself about this fantastic boat race. we will have entities from a round world building their boats here, coming here with their entourage, beginning now, actually, taking a look at the course and understanding what it is to build a boat here and then executing what they have to do to make sure their boats are ready. this happens now. it does not happen a year from now. they are all beginning to come now, so our restaurants and all of the businesses, the procurements of what they need to support their staffs coming over here. they are all beginning now. that is part of that $1.4 billion economic outlook that we had when we made this decision and got the award. 9000 jobs -- that is a heck of a lot

comes back, can she get a fair trial in hong kong? the new trial, which is due to begin next wednesday and will last 50 days, also raises another question. >> what does nancy kissel really think? what does she have to say? will we even see her at trial? she took the stand in the first trial. will she take it in the retrial? >> reporter: making this not just a potential murder, but a mystery, as well. for "today," adrian wong, nbc news, hong kong. >> and joining us now for more insight is paul callen, criminal defense attorney and former new york city homicide prosecutor. paul, good morning. >> good morning. >> it's not in dispute whether or not nancy kissel killed her husband. she admitted so, even in her first trial. the defense put on a self-defense defense. is that likely what we'll see again this time around? >> we'll definitely see that this time around. you know, this is such a fascinating case. they -- there was substantial evidence that she drugged her husband, and then killed him by striking him repeatedly with a blunt instru

looking at other asian markets, hong kong's hang seng index down by .25%. the shanghai index for major blue chips declining by half of 1%. the shenzhen sse composite declining by .3%. >>> prime minister naoto kan and former democratic party leader ichiro ozawa are increasingly at odds over an alleged political funds scandal. tensions are mounting ahead of the party convention and diet session later this month. ozawa's expected to be indicted as early as this month over the scandal. >> translator: ozawa should make clear his future plans as a politician if indicted. and he should concentrate on his trial. >> kan made the remark on tuesday. he indicated that ozawa should consider leaving the ruling party and resign as a lawmaker. later in the day ozawa said his scandal should not be the prime minister's concern. he added that kan should focus on what to do with the country and how to protect people's lives. a lawmaker close to ozawa also criticized the prime minister's statement. he said it makes no sense to suddenly talk about the former party leader's futur

he is currently in china, hong kong. i guess hong kong is still china. i would like to see if i could have a conversation with him before we make a determination. how can we select someone for such a high position, the highest position in our city government, when they are not even here in the country. to me, that does not seem like the way we should be doing business. we have not even had a chance -- i have not even had a chance to have a conversation about this pripet i do not even know if he wants to do it. that has not been confirmed to me personally. i have said nothing but positive experiences with him. i could support him. but i want to be able to make sure that i feel that he has a lot of positions on issues that i care about before i want to cast my vote behind him. i would ask colleagues a courtesy if we can continue this to be able to have that conversation. i do not think it makes a lot of sense for us to make such an important decision blindly, and i feel like many of us are doing it blindly without actually having a conversation with the pe

and hong kong. do you agree with don's assessment and how come you don't trade anything directly in china? >> yeah, we totally agree with what don has to say. if you look at what is driving that growth right now it retail sales up almost 19% during q-4 which is exceptionally strong. we are looking for companies that will drive china growth in the next ten years, services companies that are small, midsized companies that have unique products and services that can play on the rising boom of the middle class in china. >> tom: but you're trading stocks based in china that trade in the u.s. and hong kong. where why not chinese stocks that trade in china? >> that's a great question. it comes down to two real key answers. that's transparency both in terms of management and transparency in terms of what they actually are telling you that they are reporting. we found it to be that hong kong listed companies and companies listed here in the u.s. have much better transparency in terms of management and we get

>> i moved to hong kong four or five years ago and one can do wonderful things from hong kong. one thing i started to do was take up a little train, a little taxi to the railway station and a clear customs after you buy your coffee at starbucks. [laughter] you get on the train and two hours later you're there and 9:50 a.m. i would be in the provincial archives. of course, i spent 20 years working with the archives in china but pretty much most of that before 1949, that was the cutting edge of research i always kept my eye on the other so i was playing around with an idea with the project on everyday life and it was a very simple question. we have a people's republic but what happened to the people or what do we know about people how they died in particular during the mao era? i quickly discovered it point* of the "great leap forward" was actually very rich one of the reasons for that is one of those sound particularly negative. 1966, there was very metal there. look at the earlier years, a lot kerry office and negative connotation a lot of the women are called many names. it is

. >>> in hong kong, the victoria harbour bar works were launched from 10 buildings that once. the synchronized show is paid for by the city's tourism board in hopes of encouraging more people to visit hong kong. >>> the united arab emirates welcomed 2011 huge labor and firework show centered around a a wrote dumb academic world's tallest building. officials say close to half a million people watched from a park in dubai opposite as 700- foot tall skyscraper. and just after 10:00 p.m. in new york city, tens of thousands of people are jammed into times square to watch the ball drop. the city is digging out from the snowstorm earlier this week that the city says all the people tromping through times square helps clear the remaining snow. >>> law enforcement in the bay area are out tonight. they are setting up the private checkpoints but some are taking a different approach. the local police, police department and the chp will spread out looking for people driving under the influence. operators have permission to cross jurisdictions to pursue people in violation. >> we are focusin

taking a look at overseas trading this morning, in tokyo, the nikkei dipped 17 points and hong kong, the hang seng added 9. 89. >>> no longer desperate for economic news traders have become picky, picky, picky. business orders for factory goods unexpectedly dumped in november. aircraft and auto orders jumped 2.4%, the largest just in eight months. also -- auto sales rose last year for the first time since the recession. gm rose over 2%. after reporting u.s. sales rose more than 6% last year. ford edged up after reporting 15% in 2010. even chrysler got 24 on the act reporting sales rose 17% last year. investors focused on dumping red hot commodity shares as copper, oil and other commodities slipped from multiyear highs. oil in particular finished sharply lower after rising to a 26-month high with investors taking profits on concern the price of crude has climbed too high, too fast. all that combined with market fears, one brokerage suggested investors cut holdings predicting rising food costs will crimp margins. super value dropped more than 6%, safeway almost 4% and whole foods lost

this vast forest is now owned by an investor in hong kong. it's equivalent in size to 400 soccer fields. last year hokkaido prefecture discovered that foreign investors had purchased last tracts of forest land. many are chinese investors. why are they buying japanese forest land? the hokkaido prefectural government felt uneasy about the development. it asked the relevant departments to investigate. water is one reason for their anxiety. many of these forests are in areas where water sources are protected. the government restricts development in these zones, but the maximum fine for cutting down trees without a permit is only $6,000, which may not be enough to prevent the exploitation of resources. >> translator: we are concerned that if someone buys a forest, they might feel they can do whatever they want with it because they own it. >> reporter: but japan faces a dilemma. a growing number of japanese who own mountain land want to sell. mr. okamura is in his 80s and owns land in the mountains. in the late 1950s the government began to encoura

hong kong's hang seng index up by a fraction of -- a quarter of 1%. 24,307. shanghai index for major blue chips at 6538, down almost a percent. the shenzhen sse composite is declining 1.2% at 1,242. >>> french automaker renault says it has filed a criminal complaint with prosecutors over alleged industrial espionage. it did not identify the subjects. the company suspended three executives divinitily for leaking company secrets on electric car technology ps developing with its japanese partner, nissan. all three have denied the charges. renault said on thursday it filed the complaint in france against unspecified persons for industrial espionage, breach of trust, theft, among other acts. the company says in its filing it has discovered serious misconduct detrimental to its strategic, technological, and intellectual assets. it gave no further details. french media have reported the possible involvement of a chinese firm, but the chinese government strongly denies the allegation. >>> the world's biggest earthquake simulator made its debut on thursday in japan. c

hong kong's hang seng rose 0.4%. in london, the ftse opened slightly lower. on wall street, the dow rose 20 points yesterday. and the nasdaq slipped ten points. >>> well, if you've noticed your grocery bag is getting lighter but your bills are not, there's a reason for that. "consumer reports" finds products like tropicana orange use, and ivory soap and kraft cheese are shrinking in size. but the prices are not going down. >>> online shopping hit a record this holiday season. and macy's is betting it's only going to get better. the department store giant is expanding its e commerce network and hiring over 700 people. macy's online sales surged 30% over the first ten months of last year. >>> well, if you like to wait until the last minute to file your taxes, good news. you'll have a little more time this year. the deadline to file your federal tax return is april 18th, thanks to a holiday observed in washington, d.c., which falls on the 15th. but you still have to get your state return done at the usual time. >>> a sign of the times this morning for the news b

see them getting any high just yet made that clear to reporters ahead of an exhibition match in hong kong. there's no reason to believe. look look you know. these guys aren't going to be around for the next couple years so these other guys whether it's joke of bitch or murray. on down the line. in order for them to break through they're going to have to add elements to their game the same way that nidal did in roger just a couple years back and to work harder than ever to try to allow themselves to compete against to the most if not the most talented players that ever play tennis so while competing at that hong kong exhibition event at the women's well number one common let me ask you the day has not got a grand slam title to the nines she says she doesn't feel any pressure to win her third and there's just time to pick up where he left off last season after winning six titles on the toll well i feel pressure. is when you're put on the spot where you don't feel like you belong i feel like i belong where i am i found a great year and when six tournaments this year between the top players.

alliance with its counterparts in moscow analysts say that will help it compete with london and hong kong while russian companies would be given a chance to list both in russia and germany getting access to greater capital is an attractive proposition but one that might critical the empire building a missions of r.t.s. and my six oksana to go into business r.t. . and that's out there for this hour but you can always find more business stories on our web site that's r t dot com slash business stay with us. long. enough backyard i'm not in atlanta we. are much closer to crop up and then spread all over the country. virtually all terrorists today are muslim do we have the right to make such provoking of statements and the muslim schools have the right to exist. new york city. welcome back here with our two years a look at the top stories claims of entrapment and prejudice against immigrants give rise to anti-american sentiment in the united states muslims say they face daily hysteria and anger from within the arab immigrants claim islamophobia since the nine eleven attacks and growing all th

which is a chinese export to hong kong and then an export to china, and then sent to the united states, where was that thing made? by a company who shares trade on the new york stock exchange. if there's a phone and you have the same thing, it's sent to the united states for a company that is incorporated in canada who shares trade on the new york stock exchange. the national trade statistics do a bad job in capturing that reality. they do a bad job of capturing capital emotion. you can see this more as a system. i want to do a brief thought experiment and talk quickly partly for effect. the numbers i'll give are not actual, but they are representative. one of the only sources of growth from about 2003 until 2008 that wall street investment banks saw other than mortgage-backed securities was the possibility of doing banking and loan and lending and underwriting business in china because by the world trade organization, china had to allow these to come in. in 2003, morgan stanley seeing potential to do business with chinese companies that want to list shares or former state-owned

i did not have the telephone number in hong kong. >> okay. >> be clear. >> so you talked to the people that talked to him. >> i would not have called him because i don't believe that he would have accepted my call and certainly not my request to become mayor. he should have known better. [ laughter ] >> so how is it going? >> i think it's going good. i mean, it's been a whirlwind. i'm trying to catch up with the real pace that has to happen, a lot of people want to obviously see the mayor talk to them and not only be congratulations on the first two weeks but also give me some good advice. >> i bet everybody has stripes. last night you were at the lee association family dinner. how many people were there? were you there too, mr. brown. i didn't know you were a lee. >> willie l brown, jr., l stands for lee. >> so were you at this dinner. get used to it. how many people? >> over 700. >> did you get anything to eat? >> i got a couple of bites of chicken. i think it was chicken. >> so the rest of the time you had to what? >> i had to shake hands. i had to toast all of the tables. there wer

ocean, and everyone told me in hong kong that the pacific was the notion of a future. so i drank the kool-aid and said well, okay, and decided to write a book about it. and spent a lot of time traveling from chile and australia, and at last the, crisscrossing echoing to islands in between. is a fairly commercial failure. it wasn't as bad if it has become i mentioned before which i wrote about america in the 1970s which sold only 12 copies. [laughter] but it wasn't quite as bad as that but it was pretty bad. and the reason i think when we analyze why was it might well have been true to say the pacific was the ocean of the future, but what it clearly wasn't in human terms anyway, it had very little human history in it. i mean yes, there were the polynesian and magellan and people like that. virtually speaking it was nothing compared to the great richness of the mediterranean, and then of the atlantic. so with that idea in the back of my mind, galvanized by this book i read in chile that i will tell you about later, i will tell you about this book towards the end of this

asking him to come back early from hong kong, we could meet by friday late afternoon. we can see if we can continue the meeting at that time in recess this item until 3:00 on friday afternoon. supervisor mirkarimi: supervisor avalos, you have a date certain? a time? supervisor avalos: 3:00. supervisor mirkarimi: simply following the loss of etiquette. supervisor avalos: with all due respect, colleagues, i could have a conversation on the phone with him by friday. i do not think it is unfair for me to ask of my colleagues on the board so i could have a conversation. i would give the same courtesy, as well. supervisor mirkarimi: thank you, supervisor avalos. supervisor campos: i think because we're talking about a symbolic vote, i think somebody referred to that. i think there is something about symbolism. i think symbolism matters, and i think there is symbolism in trying to get as much support for this individual as we possibly can. i actually think that the symbolism of having as many members of this board behind mr. lee is something that is worth waiting for, and i d

in hong kong at 40 is say that they have made the largest cocaine bust and they found 606 lbs. a hidden inside a wooden planks of the ship. it was as true value of $260 million. the shipment comes in from south america. in australia to play at that opera house all you have to do is i have a youtube account and detection of talent. kimberly has more details. >> they have put all of their audition tapes online all the hopes of becoming part of this of the orchestra. let us take a look at some of the lucky folks who were chosen >> greetings from brazil. it will take you to your vote on will depend retire. >> hi michele and i play percussion >> at the violin. >> i am the harvest. >> a german trombone player. >> well the art of traditional instruments, they also of quality instruments. stay with us more news after the break. a state wide manhunt continues on four of the kidnapper and a four year- old boy. the card may have been a pound in the canal in paterson. it was not buy it officials, but officials of sins told us that the man who might it kidnapped the boy has family toured ca

. >> y la alegría por la llegada del año nuevo en rusia, australia y hong kong. >> . >> en perú fuertesel dramático desenlace de este incidente. >> ana lucha por su vida aferrada a una ba orilla cayó por un hueco mientras caminaba con su abuela y había abajo un canal. >>> y la policía inició el rescate y el padre de la niña gritaba desesperado el problema es que ella no lo oía es sordomuda. >> agarraste muy fuerte. porque el agua te llevaba. sí. y la policía vino ya. el policía te tomo yó te comenzó a jalar. >> era el héroe ingresó una vez y la corriente era muy fuerte. >> cómo está la niña?. >> agarrándose. >> es un milagro que esté viva. >> la seda oportunidad logró safoarse. >> la niña asustada fue llevado a un hospital con hipotermia y signos de ahogo. >> al día siguiente fue visitada por sus héroes. y por limitadas posibilidades explicó lo que le pasó. >> agua. >> ahora ello está contenta pues una empresa le donará audífonos y así podrá intentar hablar mejor. >> el grupo de policías fue reconocido por el gobierno con bonificación especial y un ascenso. >> en lima perú, univisión. >

ed lee arrived at sfo last night after a trip to hong kong. on friday san francisco's supervisors appointed him as the interim mayor. he will be sworn in as san francisco's first asian american mayor tomorrow. lee will finish out the final year of gavin newsoms term but he said he has no interest in running for a full-term for mayor in the fall. >>> at 11:00 this morning governor brown will announce detailed for his plan to deal with the $28 billion budget deficit. brown says he wants to shift the responsibility from many programs from the state level to county cities. he also wants to cut county bureaucracy. and he will extend temporary tax hikes. at 3:00 this afternoon a protest is also planned outside the state building in san francisco by people who are against further cuts to california's health and human services program. >>> time now 6:04. the man accused of a mass shooting in arizona is due in court today. jared loughner is accused of trying to assassinate congresswoman gabrielle gifford killing six people and injuring more than a doze

tenemos una nueva pausa al regresar en suoticiero telemund >>> en hong kong china los edificiomás popularessquare new york. la celebración inicia a las 10 de la noche 9 para el centro. y por favor, no se pierda esta síntesis de 2010. las imágenes de los sucesos que conmovieron el año quetermina. cerramos así un capítulo más que compartimos juntos agradezco de corazón en telemundo le deseamos un excelente 2011. feliz año nuevo, paselo muy bien. >>> el epicentro del terremoto 7. 0 ocurrió 10 millas al oeste de puerto príncipe. >>> murió mi hijo, mi polola y mi suegra >>> todas nuestras condolencias para el pulo chileno. >>> no sabíamos qué hacer, si irnos a otro lado. (disparos) >>> costara por desgracia vidas humanas. >>>rogelio: es considerado uno deos narcotraficantes más sanguinar sanguinarios del país >>> hlan las farc de buscar la paz pero sin rendirse y todos los días nacen nuevos monos jojoy. >>> la reforma migratoria y en contra de la l anti indocuntados de arizona. ♪ (música) >>> viva méxico. >>> viva méxico (aplausos) chi, le chichichi, le le