of the global economy based in asia will rise. the u.s. grows at 3%, asia at 6%. it is arithmetic. as that center of gravity shifts this way, there is more trade, derivatives, economic flows, greater mass of wealth to manage. our business needs to grow in line with that. asia is already important to our presence and deeply rooted in our past. >> singapore, a good place to do business, good place to work? >> singapore is as fine a place to do business as anywhere in the world. that is known exaggeration. it is a secure place. the infrastructure is first- class. the policy makers are forward- looking and they understand the business. it has a great lifestyle, wonderful weather, schools. it is an urban center that has been carefully planned. it is a lovely place to live, a great place to work. singapore has built all of this in one-and-a-half generations. if you go back to singapore on the day that i was born in the 1950's, singapore was not even independent. today, they are a power house. singapore is not an emerging market. singapor

but with the growth rates in asia so much higher, the percentage of the global economy based in nation will rise. the u.s. rose at 3%. asia grows at 6%. this way there is more trade, more derivatives, more economic flows, a greater mass of wealth to manage. our business needs to grow along with that. asia is already important to citi's presence and deeply rooted in our past. >> singapore, a good place to do business? a good place to work? >> singapore is as fine a place to do business as any work in the world. that is not an exaggeration coul. the infrastructure is first world and first class. the policy-makers are forward- looking and they understand business. it has agree livestock, wonderful weather, schools -- they have great lifestyle, wonderful weather, and schools. if you go back to singapore on the day i was born in the late 1950's, singapore was not even independent in 1958. today, they are a powerhouse. singapore is not an emerging market. it is a financial services center as sophisticated as new york or london. it has the regulatory framework. it has a collection of talent.

this is at the center of the issue. >> a number of nations in asia have become more prosperous in recent yeens. are you expecting them to do more for refugees? >> very important point is that, first of all, asia remains an open asylum policy. it keeps its border open. more importantly is asia's leadership role in terms of politically helping out, resolving some of this long-standing refugee crisis. take the case of japan and it's role towards afghanistan. for the last ten years japan has played a key roll in providing help to refugees, helping refugees to return but also to the rebuilding of afghanistan. that is important. all i think asia as more and more countries become prosperous is to freeway financial assistance to refugee swax. >> thank you very much for joining us. >> thank you very much. >>> welcome back to your weather update. let's get a look at the weather conditions across asia and southeast asia in particular has seen a lot of rain and it continues today. off the eastern end we have a trop depression that brings in rain. over towards the indochina peninsula as well we have

forces in asia and the pacific. panetta is to meet prime minister yoshihiko noda and defense minister, ichikawa separately on tuesday and discuss the delayed relocation of a u.s. military base in okinawa. a plan to move the marine corps futenma air station to nago city also in okinawa has been stalled due to strong opposition from local residents. secretary panetta came to japan after visiting indonesia. that country is becoming a strategically-important power in southeast asia. it controls a key route from the strait of malaca to the south china sea. it's one reason the united states and china are trying to strengthen their military ties with indonesia. nhk world tells us how that is playing out. >> reporter: panetta is on a tour of east asia. the first leg of his trip included talks with indonesian defense minister. the u.s. agreed to provide indonesia with radar to monitor ships in its territorial waters. the u.s. also agreed to provide fighter jets. indonesia is modernizing its defensive weapons on land and at se

forces in asia and the pacific. panetta is to meet prime minister yoshihiko noda and defense minister, yasuo ichikawa separately on tuesday and discuss the delayed relocation of a u.s. military base in okinawa. a plan to move the marine corps futenma air station to nago city also in okinawa has been stalled due to strong opposition from local residents. >>> china's defense budget is the second largest in the world. the country is building up its military, including its navy and that's causing concern and friction in the region. how is japan responding to this burgeoning military force? nhk world's kan ishiyama reports. >> reporter: the maritime self-defense force's summering base is located in yokosuka city, 40 kilometers south of tokyo. it's a base for submarines conducting surveillance activities in waters around japan. submarine activities are national secrets. even self-defense force members have no knowledge about them, unless they're engaged in the unit. we are allowed into a submarine on the condition that we

and what that -- and in asia we have seven of the 10 largest land armies in the world in asia. so we have not been able to pay the attention i think that's necessary there because of what we've been doing in iraq and afghanistan. so as we look to the future, part of the things that we have to do is build our relationships, build partnerships with our allies and friends in the asia pacific region. i think that's a great role the army can play, working with armies because in many of these countries, the army is the dominant military force of the country and i think we've been ignoring that for a long time. >> for outside purposes as well as domestic. >> that's right. >> any particular sorts of exercises or particular tools of engagement you're looking for. >> we're looking to partner with many different people. obviously we have with south korea, but we're trying to expand beyond that. we're having talks with australia about some of the outreach things, we'd like to be part of that. >> and the training ranges. >> and the training ranges and help them conduct joint training there w

of course the other powers in asia are also developing. china is playing an increasingly poor and -- the important role, and over the time the balance will shift. >> in singapore, i have the opportunity to visit with u.s. ambassador david adelman. >> how do you account for its success? it is a very successful place. >> undoubtably. it stands out in this region especially as a place that has created tremendous wealth and a very high standard of living for our people. the government of singapore deserves a lot of credit, but i will say this, in addition to singapore's people, singapore does have some things going for it that come naturally. for example, the best location on the whole planet. about 50 percent of the good fellowship overseas pus -- pass right through here. that accounts for their first or second busiest container. in the world. a good location is and natural resource enjoyed in connection with the natural deepwater harbor. i think the key to singapore success has not been not to squander the great location and these important s

why to weekend here in asia those protests that i mentioned in. jakarta are all set to happen on saturday so i think people will be keeping a very close eye on what's happening in asia and there are very close links to feelings here with what's happening in new york as well marina absolutely seems like the rate the movement and the spreading over to other regions is quite incredible well pray for now though thanks very much indeed for your analysis and the update from new delhi appreciate her reporting there for us. in the credit crisis of europe spain has become the latest victim of a credit downgrade standard and poor's agency has cut madrid's double a rating by one notch due to we growth high unemployment and massive private sector debt the fitch agency has also downgraded spain's rating as well as the credit worthiness of several u.k. and swiss banks and portugal is warning its deficit cutting efforts are well off track the country's prime minister warns of deepening hardship next year with more pay cuts and tax increases ahead our has been as

that to happen on saturday so i think people will be keeping a very close eye on what's happening in asia and there are very close links to feelings here with what's happening in new york as well i was largely correspondent priya sridhar reporting from india so i have here on our team the drums of war are beating again this time in africa so as president obama sends a hundred u.s. and by users and combat troops into randa to assist in a rebel takedown there's a question why are we getting involved now. little. given we are in the park right. i think iraq to be the one to well. we never got there for safe. freedom. well an announcement today by the white house that the u.s. will be sending one hundred combat troops into central africa in the coming days they'll be tasked with training and advising forces battling the ugandan lord's resistance army those army rebels are said to be among other things murderers kidnappers and rapists they also plan while they're there to help remove the head of the army on the battlefield joseph koni now we want to talk more about this and shed some light on

thek to happen on saturday so i think people will be keeping a very close eye on what's happening in asia and there are very close links to feelings here with what's happening in new york as well that was our view correspondent preassure either reporting from india. well back in the u.s. american taxpayers' money already protesting military spending bill now many expected to carry a little more weight were out today that president obama is preparing to send hundreds of troops to central africa allegedly to assist in quote removing from the battlefield a rebel commander the existence of whom the united states is apparently not noticed for decades and that we have any warm feelings towards joseph koni or his lieutenants but here's a question why now we'll discuss this all new in our seven pm newscast with robert naiman policy director for just foreign policy and that is going to do it for now for more on the stories we covered go to r.t. dot com slash usa or check out our you tube page at youtube dot com slash r t america has also follow me on twitter you can find me at frowsy thanks so muc

[inaudible] longest-serving dictator in asia was overthrown. back a few years ago the balkans, further back. none of these alone in the west. now when i speak with people and tell them about march, peaceful protests in the muslim world, i get blank looks because last month have been fully moment is. i think it may be the most momentous year in modern arab history. and one of the most perhaps in global history, at least since world war ii. december 2008, 1 man, i will talk about him, lift himself as an act of protest. that set off a remarkable chain of events where it was almost i'm touched by protest from morocco all the way to the border of pakistan, iran. so the arab world, not iran, almost all of these countries have taken that protesting. into countries, managed to get success, tunisia and egypt. in other countries i know it's still in flux but i advise people not to be impatient. let's wait. i'm confident in a couple of other countries, bahrain, for example, that there will be positive change. it's still six-eight months. removed, it took m

set to happen on saturday so i think people will be keeping a very close eye on what's happening in asia and there are very close links to feelings here with what's happening in new york as well and that was r.t. correspondent free of sri other bringing us the latest from india and that is going to do it for now but for more on the stories we covered go to our t.v. dot com slash usa or check out our youtube page youtube dot com slash r t america should also follow me on twitter i'm friends he will be back.

no matter your interest is in asia or elsewhere in the world, everybody has a connection. we want to make those connections and discoveries. let me give you one example of how we have started to implement our brand and to realize our brand promise for our visitors. across all you will see an exhibition of exquisite korean ceramics dating from the 15th and 16th century, as we all would display our works of art and the most beautiful of manners, so that our visitors can enjoy the beauty and style of those people. at the same time and, for the first time in our history, we have built a new contemporary dimension to the exhibition. the curator has included work from sample -- several contemporary caribbean artists, ranging from photography to installations, too surprising media that somebody may or may not realize, all of this that you see is made out of soap. this brings up a question, what is a sense of permanence say? looking at the contemporary art enables us to reflect on the timeless pieces of the 15th and 16th century with new questions, new perspectives. likewise, look

talking about some of the sectors that we're moving here in asia. auto stocks, taking a hit today. a lot of the exporters getting more and more concerned about what's happening in europe and the slowdown there. that was reflected in stock prices today. honda down 2.3%, nissan 1.6%, toyota, 1.7%, all down because of the concerns about the euro zone. you can seat concerns still playing out on the broader markets as well. shanghai, down that inflation number is wore rig investors there, down by 0.3%. what that inflation number means is it will be less likely that china can cut interest rates to stir up economic growth if it needs to. hong kong down 1.3%. the s&p down by about 1%. nina, if you look at the broader index, the morgan stanley index for all of asia, this is the first time in seven days that we've seen negative numbers across the board. >> yes. we are going in the opposite direction, aren't we at the moment, andrew? it was a mixed day on thursday for the major u.s. markets. banking stocks fell after a lackluster third quarter result from jp morgan chase. that's the nation's s

the people lined up will be the first customers in asia to use apple's newest product. today's the day for apple fans around the world. the company's latest product hit stores. it is called the iphone 4s. some call it the 4 steve in honor of the late steve jobs, apple co-founder. the new smart phone has a double camera and double the processing speed. more than a million worldwide preordered it. the device is being released in seven countries, including japan. japanese customers are the first in asia to start using the iphone 4s. our reporter joins us live from tokyo. how is the turnout where you are? it looks pretty exciting over there. >> it is very exciting over here, katherine. the store just opened now. check out this long line curving across the building. as you can see in front of the store, bouquets of flowers have been left in honor of steve jobs. our crews arrived at 6:00 this morning. already at that time, we counted 360 anxious people to get their hands on the iphone 4s. let's talk to people in line about what they are so excited about. >> this gentleman says

with market investors watching closely over the weekend events in europe, markets in asia are going to be the first to react to any agreements on how that plays into the market. we'll watch how they kickoff in under an hour. following on from the weekend meetings, we're going to have a look at the currency markets now. you can see there the dollar yen trading 76.26-27. hur oh yen, 105.58-62. the dollar trading in narrow range, and the yen hit a record high friday around 75.78 on expectations of something coming out of meetings over the weekend. moving on to the stocks and the s&p 500 asx 200 in sydney, australian stock exchange is trading higher, compared to friday's close when it was down about three points. the big focus really will be on this wednesday when the eu summit holds its second meeting in four days, and markets are going to be focusing on any resolution that european leaders have for the debt crisis, and with recapitalization of major european banks, we're going to be closely watching that, and at the top of this hour, i'm going to have a full update on how the nikkei kick

main issues in the long term that will drive the first russia it's a traditional great power in central asia and china is very explicitly stepping on russian toes for example in the last five years or so china has built pipelines from calixto and various other countries in central asia straight into china bypassing russia which has been the traditional middleman that's one area of contention the other area of contention is the siberian five this is a very extensive border russian held of russian controlled border but you've got around five million russians in area facing there on about one hundred million chinese who are rapidly moving upwards in treaties fairly porous border regions now putin has gone on record saying that you know longer term this is unacceptable to russians for teaching interests but right now this little muscle can do about it but certainly these areas fairly rich in resources team and water for example that the chinese are very interested in effectively and it's a more this area and this will be a source of wanton tension for. more time through discuss this further join

>> nina, when we come back the first in a series of exclusive reports on modern slavery in asia. dan rivers investigates the case of cambodian workers trafficked into malaysia and finds himself on the wrong side of the people that recruits them. >> reporter: we're locked in basically now. >>> hello. welcome back. we want to take you live to the italian city of perugia for a live press conference being held by the family of the murdered british exchange student meredith kercher. her family is commenting on monday's decision by an italian court to overturn the murder convictions of amanda knox and her boyfriend raffaele sollecito after releasing them folly nearly four years in prison. knox is expected to fly out of italy today, in fact, she has been spotted at rome's airport. let's take a listen in to what the kercher family have to say. >> for the benefit of the i tall yan journalists we are going to be -- the lawyers will be available to help you out with translation and then the family will go -- we go back to the uk. we're going to -- let me say before i begin -- a >> a brief st

commitment to peace and prosperity in asia. he is in japan the first time since taking his position in july. panetta spoke to u.s. soldiers and japanese self defense personnel monday at the air basin tokyo. he said he wants to make clear the pacific remains a priority for the united states. >> we will always maintain a strong presence incident pacific and be a force for peace and prosperity. >> a japanese sdf member asked whether the u.s. military will reduce its presence in the region to accommodate reduction in the nation's defense spending. panetta said there would be no reduction in u.s. forces in asia and the pacific. panetta is to meet the prime minister noda and defense minister separately tuesday and discuss delayed relocation of a u.s. military air basin okinawa. a plan to move the marine corps station to nago city has been stalled due to strong opposition from local residents. >>> china's defense budget is the second largest in the world. the country is building its military, including its navy, and that's causing conc

and here in asia care what happens in europe so much? >> some of it is exaggerated. when the administration here says that it is threatening the u.s. recovery, there is some truth to that, in the sense that the fall in the stock markets causes consumers to spend less and reduces investor confidence as well. really, our economy -- we have a very weak economy. private demand collapsed after the bursting of the real estate bubble in this country. it has not recovered enough, and the stimulus we have had was maybe one eighth the size of the fall-off in private demand. we have our own problems here. if your resolve their problems tomorrow, we would still be looking at a very weak economy and very high unemployment until government policy really changes and we really have a serious stimulus program. >> week are seeing the european central bank seemingly acting as a substitute for the government. the ecb isthink doing it. the fundamental problem in europe is not its debt. they can restructure the greek debt. the problem is they have policies going in the wrong direction. th

japanese customers are the first in asia to start using the iphone 4 s. earlier, i spoke to nhk world's dina knack cano at a store in tokyo. she described the food there. >>> it is very exciting over here, catherine r the store just opened right now. check out this long line. it's curving across the building. as you can see in front of the store, bouquets of flowers have been left in honor of steve jobs. our crews arrived at 6:00 this morning. already at that time, we counted already 360 anxious people waiting to get their hands on the apple iphone 4s. let's talk to people in line about what they are so excited about. >> this gentleman says he is really excited about the voice recognition system. >> the bigger and better smarter smartphone. in countries such as japan and the united states, more mobile carriers are getting into the iphone game. how is that expected to change things? >> well, here in japan, stock-based monopoly for the iphone ended. the same in happening in the united states where sprint has now joined mobile powerhouses, at&t and verizon wi

-china cooperation in central asia. they seemed to be quite interested in what was happening in the region. i imagine there are a lot of different people in china and they all have different interests and perspectives, but the ones i was around were clearly following things very closely. >> thank you very much. it was an interesting conversation. i think it went better than i expected. [laughter] thank you to our panelists, participants, and thank you to c-span for covering it. thank you very much. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> maryland representative chris van hollen, ranking member of the house budget committee, and a member of the joint deficit- reduction committee talks about how the joint committee is doing with this task of identifying $1.20 trillion in budget cuts and other budget, spending, congressional, and political issues. newsmakers, sunday at 10:00 a.m. and 6:00 p.m. eastern on c-span. >> the head of the america

uncertainty around the world and they reflect but truly they see opportunity there and in asia. europe, highly varied. also was in europe a couple weeks ago and i had the fortune of spending time with clients, someplace whom were german, some of whom were italian, some of whom were french, some of whom were spanish, and very different how they see the world. what was true across entire grurng tremendous uncertainty about what is going to exphap how it will affect our businesses. >> tom: what do you think the contributors to the risk in the united states and groblly? >> you step back and say what is driving at the core, a lot of the challenge what is at the core of driving down g.n.p., and how that's evolving. the asset values are shrinking under pressure. unemployment is a true-- it affects our clients in such a difficult way, very, very important. and those two things are really driving a tremendous amount of pressure in terms of what is going on around the world. and for our clients, as they think about their prospectes, tom, and this is how it affects aon, how we're going to s

first of all capitalism is not dying and it is spreading all over the world look at what's going on in asia in china good luck american alan we're not talking about jamal we're not talking about capitalism per se we're talking about social democracy that's something a little bit different and is richard pointed out here and you know pretty good record we had a pretty good record for a number of decades now it's a question that's how this program was introduced so we're talking about social democracy obviously capitalism is part of that go ahead alan. alan go five percent of g.d.p. is twenty five percent of g.d.p. is spent by the government here forty five to fifty percent in europe that's hardly the end of social democracy i mean the germans have what they call social democracy and they like it and they keep it and it's their form of capitalism and there isn't the slightest sign that i can see that anything is going to erode it yes there will be cuts in the budget but those cuts are coming after a very very large increases over the last five to ten years so it isn't true i mean we've just p

about it for a suite any hasn't been conceptualized anywhere in the us in europe in south america or in asia all right fascinating discussion gentlemen we've run out of time many thanks to my guest today in new york washington and in some paolo and thanks our viewers for watching this here darkie see you next time and remember astafy. if you. want.

a force weight and it hasn't been conceptualized anywhere in the us in europe in south america or in asia all right fascinating discussion gentlemen we've run out of time many thanks to my guest today in new york washington and in some paolo and thanks to our viewers for watching us here are to see you next time and remember rostov. wealthy british style. markets why not come to. find out what's really happening to the global economy with max cons or for a no holds barred look at the global financial headlines tune into kinds a report. in seattle police abuse of strong arm tactics on peaceful occupy wall street demonstrations amid mounting criticism the u.s. media is not doing enough to report on what's motivating people to rally in such large numbers. nato peacekeepers in northern kosovo extended deadline for ethnic serbs to remove barricades near disputed checkpoints the months long dispute in the ethnically tense region is over control of the border crossings into neighboring serbia. syria again swept by protests people are furious and the arab league has injected damascus from the org