these are the top ten rice exporters in the world, according to hsbc.he top five include pakistan, u.s., india and vietnam. but quite some distance ahead is thailand. the u.s. department of agriculture says that thailand exported about 10 million metric tons of rice in 2010. according to hsbc's latest figures, the country slashed its harvest forecast by 26%, from 26 million tons to 21 million tons that could effect the price of rice. the price of rice was up almost 7.5% between march and august. that's well ahead of other food stuffs. with this latest flooding, it could set to rise further. so all in all, the impact on thailand or the impact of the floods on thailand is not limited by the looks of it just to the country, but also it could ricochet around the world in the form of food price inflation. we'll be watching this one closely. >> that's the last thing we need for this one is food price inflation that would definitely be devilish in terms of its consequences for everyone. let's have a check in and see what the weather outlook for thailand is. ou

>> hsbc came out and said if europe defaults and we are looking at another world wide great depressionint out i don't think europe matters anymore. yes, with draw money from imf. i am sick of funding our and we should be tightening our belts and start charging europe for our defense forces i am not sure the imf saved any nation. >> thank . ly it is not europe's stand. but they do far more harm than good. stop harming the patient. >> stop bleeding the patient. when we come back. pile up the cash and not p the debt. >> your debt, we have stocks to bail you out. dennis, how beaten down banks are. >> less than nine times earning and 130 billion cash . wait two weeks and then buy it. >> morgan you like it? >> not really it is a down trend. >> you like the melon. >> you like cigarettes. >> market shares are eroding. >> you like a canadian oil company. >> love the monthly dividends. >> world economy is slowing down and driller will go down. >> that's it, gang. keep it right here. it continues with carbin in and cheryl casewne. >> if is easy tore do business in chynna. those stunning

according to hsbc, private european bank lending to countries in this region here is on the order of more than $1.4 trillion. compare that with u.s. bank lending to asian countries. that comes in at around $500 billion there. in terms of countries and territories, well, it turns out that china, hong kong, singapore and south korea are the biggest recipients of all that international private lending. in june of this year, this is how those loans broke down. china, a bit more than $250 billion. hong kong had the most, about $375 billion. singapore and south korea came in at around $200 billion or so. now with this in mind, especially with china in mind it might seem a bit strange to thing eurozone is going to call on china to help pump up its bailout fund. but bear in mind that the chinese government has this much money in its foreign reserves to the tune of $3.2 trillion u.s. dollars. knowing that, french president sarkozy is expected to call beijing later today. earlier cnn spoke with michael shoeman of "time" magazine in beijing about this china/japan role reversal. >> it's telling

hsbc estimates that the fourth quarter gdp could fall down to 3.9%. the finance ministry has cut its growth forecasts for the year thanks to the flood largely, it's reduced that forecast from 4% to 3.7%. >>> at the moment, as nina says, all eyes are on the thai capital, bangkok, which is bracing for what could be very serious flooding. let's go to our jen delgado. jen, it's also parts of laso, cambodia and parts of the philippines. just on bangkok, i know the authorities there have been trying to divert the floodwaters away from bangkok. when is going to be the critical time for the capital? >> you know, really right now we are in that critical period because the capital's already been experiencing flooding. we talked about that last week. but of course, all that rainwater up towards the north has to go downstream. and the problem is so many people live right along that area. and for bangkok, we know it's roughly 15 million people live right near that area. as i show you on this photo right here, this gives you an idea how bad the flooding is. this is

of these companies down between 11% and 20%. 26% was the worst one yesterday and that came after an hsbc survey suggested that china's growth is slowing which means less recreational spending. we do have the golden week holiday. china is traditionally a big earn for for the casino there. but the casino very much in focus at the moment. okay. we talk to you about what's been happening over the past quarter or so. if you look at just how much we're talking about in the quarter that has just passed for two days into the new one this is how bad it's been for the neck key down more than 13% over that quarter alone. but that's actually quite modest compared to some of the other markets. hong kong, similar picture but apart from a couple of plateaus you'll see it's come off very, very sharply. shed more an a quarter of its value. move along to the seoul kospi index and see a fairly sharp sell-off there, 20% down more than a fifth of its values lost and in australia over the same period and you'll see there the bench mark sa pchp ask down by 15.1%. nina, two days into the last trading quarter of

a monthly survey released by hsbc shows a strengthening manufacturing sector.he purchasing managers index rose to 51.1 and that is a five-month high. any figure above 50 indicates growth so 51.1 sounds good. u.s. investors are growing increasingly hopeful about a resolution to europe's debt crisis. the dax a gain. standard & poor's index picked up 23 points, or nearly 2% for the week. both the dow and s&p rose a little more than 1%. the nasdaq lost 1% on the week. u.s. markets look set for gains when trading begins just a few hours from now. and here is where u.s. futures stand in the premarket action. up by right about 0.50% for the dow and nasdaq a little less for the tech stocks, the nasdaq, s&p 500, broader market dragging it a little but still up by 0.25% and clearly under five hours to go to the open. >>> aftless than three weeks af steve jobs died his authorized biography goes on sale. former cnn chairman awalter isaacson wrote it. he gave an interview less than two months before his death. it is the number one best-seller right now on amazon and barnesa

when it comes to some of the banks that he was doing business with, he had significant holdings with hsbc. also in his bond portfolio, take a look at what was held. in italy, $50 million worth in just one investment. $20 million worth in spain. at lloyds in the u.k., $32 million worth. at bank of america, $20 million worth. what's interesting to find out about this, many of these assets were frozenent january and placed -- frozen in january and placed under u.n. sanctions. some sanctions are being lifted, but they have to be proven that they're for humanitarian reasons, such as for the people of libya. that's a very slow process. that's happening for the state assets. when can-- when it comes to personal assets, those are difficult to uncover. the libyan government will have to prove to courts in various countries, whether it's the united states, u.k., italy, that those things were acquired under criminal intent. and that's going to be very difficult to prove. it could take years. carol? >> my goodness -- the amounts -- it's staggering, that's all i have to say. thank you very much. we ap

authority had nearly $20 billion in deposits in major banks all over the world including goldman sachs, hsbcrst, to italy. the libyan investment authority had a 2.6% stake in unicredit. a 2% stake in finmecanica. the libyan investment authority owned part of the chemical giant vasf and had a $531 stake in siemans. in the united states, multiple investments in huge firms. general electric, caterpillar, now a tall task for the new libyan government to try to control that. it will not be easy or a short process. >> on top of that, the libyans are sitting on massive oil, aren't they? >> they are. libya's got the tenth largest reserves in the world. before the civil war, libya was exporting 1.6 million barrels a day. one estimate we saw that after the fighting stopped, it would take three to four weeks to get production, up to 4 to 5,000 barrels a day, but libya's got that capability once they get their act together. they could be a major oil producer. >> they've got a lot of wealth and are obviously more than capable of reimbursing not only u.s. taxpayers, but nato countries as well for whatever

bankamerica and wells fargo, and also foreign banks that are based in europe like deutsche bank and hsbcst: you said he looks at them specifically to monitor them to see if they get in trouble. what does get in trouble me in that instance? trouble mean in that instance? guest: they monitor these. they have comptroller's of the bigger banks and monitor what they do. the make sure their risks they take are not outside risk, but the fdic will now have additional people who are going to make sure the complexity, and what they mean by complexity is these organizations have so many different units and businesses, and they are global and all over the place, so now they will make sure that when the men failed in 2008, there were so many different pieces -- lehman brothers failed in 2008, there were so many different pieces -- now this office will make sure all of the different pieces are part of the equation that regulators are looking at. host: so it of bank is feeling, sees it isggggend failing, he recommends the bank should be drawn down. does he have the direct power to do that, or does he r

$20 billion worldwide of deposits in several major banks across the world, including goldman sachs, hsbc bank and sahara bank. according to a same time obtained, the lia had investments all over the world of at least $64 billion. we'll show where you. italy, libya's largest trading partner. according to the statement, the invest authority had a 2.6% stake in unicredit, 2% stake in fin mechanic kaw. take you further north to jrm . germany. invested in a chemical firm and in the electronics giant siemens. and further north to finland. investments, and also in the united states. many investments in many different firms. ge, caterpillar and many others. brian todd, cnn, washington. >> and all of that sits on huge, huge oil reserves for africa that many companies and countries are interested in developing. >>> coming up in about an hour, we'll talk to damon wilson, a former top aide. what the role should be in a post-libya. >>> and ambassador to the united states, an arraignment hearing scheduled for next week. arrested last week after allegedly trying to hire a middle man to recruit hitmen t