kevin rudd: yes.in the united states, we are focusing on the nuclear negotiations, but let me tell you, if a are resolved and resolved successfully, i believe the lens will increasingly go to what is happening with the north korean nuclear program. this is a state which already has significant nuclear materials to manufacture up to five or 10 bombs. secondly, it has quite vividly advanced rocketry, and thirdly, it is in the business of trying to move it to rise weapons to put them on the ends of rockets, and if you were sitting in south korea, japan, or in a larger radius of the united states, if they manage to perfect icbm technologies, then friendly that lives as a much more acute and strategic threat for the wider region that perhaps even those of iran, so as this unfolds over time, i believe there's going to be an increase in cooperation between united states and china on how you achieve the denuclearization of north korea. 10 years ago, very little common ground. now, i think xi jinping will see

kevin rudd joins me. the economist came out and is doing his best and apparently not effectively in propping up the markets. we've got 30% down and the last couple of days almost as dramatic going back up. >> if you bought the stock in june last year, you probably would be about 85% up. so let's just understand that this is a significant correction in the market. you've got chinese assets which have been overpriced, even against a basic analysis with their standard price ratios. but to draw too much of an implication from this in terms of, number one the overall performance of the market in recent times and, two, what it means to the economy in general and, three, the direction of reform, i think we just need to take a calmer pspective. i think the economic reform program is continuing and let's face it, the chinese government is not the first government in the world to intervene in markets. u.s. of a. did that in the early '70s, japanese did it in the early '90s, and hong kong government did it in the la

kevin rudd is the former prime minister of australia, now the president of the asia society policy instituteansen is the former deputy assistant secretary of state for east asia and pacific affairs, now professor at princeton and author of a new book "the china challenge." kevin, when you listen to this jostling, what do you think is going on beneath it? what's the underlying dynamic here and is it dangerous between china and the united states in general? >> i think the underlying dynamic is neither side has any interest to allow any significant incident to occur which would then flame into a regional conflict. from the chinese side that would upset the agenda in terms of their number one priority which is to continue to transform the economy, and secondly from beijing's perspective, if they were to trigger conflict with the united states the military realists and the people's liberation army know full well they would in all probability lose hands down. these are sobering analyses. from the american side as we've seen more broadly, has no particular interest in going to war, by accident or d

. >>> for more we're joined by kevin rudd. the president of the asia society institute. back from a trip to asia. and you speak greek or just read greek? >> i speak chinese and i speak no greek. >> can you read a little greek? >> well you know little bit of biblical greek maybe. but not a lot. >> then we should focus on china. but don't speak mandarin on us right now. >> i'll try not to. >> i don't know whether we're surprised by the extent to which the stock market is being manipulated by the chinese government. but i'm spriessurprised that when they succeed our market goes up and say yeah that's really good manipulation this time. don't let anyone sell. use the central bank to buy shares. of course we don't do -- the fed almost does that. maybe not. but should we be surprised that we're on board with manipulating markets. >> i think the question we've got to ask putting it into context is is it unprecedented for governments to intervene when you've got a large stock market volatility? i remember in the reagan administration it was done. and a marvelous thing called the

>> reporter: i'm kevin frazier coming up amy schumer brings her comedy to the big screen in train wreck and paul ruddvel universe in a big way. >>> i'm kind of looking forward to seeing this, a tiny super hero becomes a new member of the marvel universe and comedian amy zoom are hits the big screen. >> both of them good. kevin frasier from entertainment tonight takes us behind the scenes with what is new in theaters. >> i'm just a modern chick. >> reporter: amy schumer play is a a single girl living it up in new york but she's afraid of commitment until she immediate bill hadder. amy wrote the movie when, features at the looks like lebron james who are hysterical. >> i'm a laugher and i'm very exited to watch people shine. people would take what i wrote and kind of make their own thing out of it and i was thrilled. >> sorry to interrupt. >> do you watch downtown abby. i'm watching tonight. i'm not going to practice. all of the guys are talking about it. i missed out. >> my days of break nothing to places and stealing stuff are over. what do you want me to do. >> i want to you break into a place and s