without mainland china the economy probably wouldn't be able to function.ecently, several incidents have installed fear in the hearts of hong kong residents. books criticizing the government and politicians are openly displayed and sold in bookstores. confirmation of the city's guaranteed freedom of speech. despite these civil liberties a publisher preparing to release a book criticizing chinese president was arrested on the mainland. he was sentenced to ten years in prison. to add to the distress the chief editor of the newspaper was assaulted earlier this year. the editor was attacked from behind and repeatedly stabbed in the back, legs and other parts of the body as he was getting out of his car at 10:00 in the morning. he somehow survived but sustained injuries that doctors say could take years to completely heal. kevin lau has been known for publishing reports that criticized politicians or exposed illegal politicians. it's rumored that triad gang members were responsible for his attack. in response to such incidents, the hong kong journalist associati

macau is an 11 square mile enclave on the southern coast of mainland china. for four centuries, it was under portuguese rule. is the closest place to china where gambling is legal. in 1962, stanley ho was the first person to usher in a new era of casinos in macau. he paved the way for other investors to make it big in macau. today, one of those investors is his son, lawrence ho. >> my father revolutionized the casino market 40 years ago in macau. he brought in a new style. throughout my career and life, it has been about trying to prove myself. >> it was important to you to prove you could build a company from scratch? >> yes. >> determines to break out of his father's shadow, he partnered with james packer. himself the son of a famous tycoon. their properties include two extravagant resorts. >> it is the ultimate destination for urban entertainment in macau. >> lawrence refers to the "city of dreams" as an integrated resort. where tourists come to spend at boutiques and stay at five-star hotels. >> how have the casino moguls in las vegas helped you in terms o

macau is an 11-square-mile enclave on the southern coast of mainland china. for four centuries come it wasn't a portuguese rule. today, it is the closest place to china where gambling is legal . was the stanley ho first to usher in a new era of casinos in macau. for decades, he built an empire that raked in elian's. he paved the way for other investors to make it big in macau. today, one of those investors is his son, lawrence ho. >> my father revolutionized the casino market four years ago. he brought in a new style. throughout my career through my life, it has been about try to prove myself. >> it was important to you that you could build a company from scratch. >> deftly. >> lawrence partnered up with australian james packard, the son of a famous tycoon. together, they formed macau. their properties include two extravagant results -- resorts. ultimate test destination for urban entertainment in macau. >> lawrence prefers -- refers to the city of dreams where tourists come to put their chips at the table and stay at high-end hotels. >> what has las vegas ins

macau is an 11 square-mile enclave on the southern coast of mainland china. for four centuries, it was an portuguese rule. -- under portuguese rule. in 1962, chinese businessmen stanley ho was the first to usher in a new era of casinos in mcau. -- macau. for decades ho built a gambling empire. today, one of those investors is stanley ho's son. father revolutionize the casino markets 40 years ago in mcau. -- macau. throughout my life it has been about trying to prove myself. >> it was important to you to prove that you could build a company from scratch? >> yes. >> determined to break out of his father's shadow, lawrence partnered up with an australian, himself the son of a famous tycoon, and together -- their properties give las vegas landmarks a run for their money. >> the city is the ultimate educatedon for urban macau. integrated resort well to -- where tourists come to not only put your chips on the table, but stay at five-star hotels. >> what has less vegas inspired in you or what have the casino moguls there -- how have they helped you along in terms of

mile -- 11 squelch square-mile enclave on the mainland of china but it was under portuguese rule for four centuries and today it is the closest place to china where gambling is legal. in 1962, chinese businessmen stanley ho was the first to usher in a new era of casinos in macau. for decades, he built the gambling empire that raked in billions. he paves the way for other investors to make it big in macau. today, one of those investors is stanley ho's son, lawrence. >> my father revolutionized the casino market four years ago. he brought in a new style. throughout my career and my life, it has been trying to prove myself. >> it was important to prove that you could build a company from scratch? >> yes. . >> determined to break out of his fathers's shadow, lawrence partnered up with australian james packer, the son of a famous tycoon. together, they formed melco crown and their properties include to extravagant resorts. city green is the ultimate test destination for urban gambling in macau. >> refers to the city of dreams as an interviewed resort where visitors spend that high-end bou

no money for mainland china, though. sato expects chinese directors will continue to look outside a home country for financing. >> translator: international acclaim is important for chinese directors who want to express their opinions. the authorities have a hard time suppressing film makers who are critical of the status quo. if their films get a lot of positive attention, that attention provides the directors with a cloak of protection. >> like many other aspects of china, cinema is adapting and evolving. sato believes the wider the audience outside the country, the greater the chance that film makers inside china will not have to part with their own vision chlgt are violation. vision. >>> police in thailand are trying to unravel a mystery. they are looking into a case that could involve 15 babies born to surrogate mothers and a japanese man. one of the women says she received $10,000. >> reporter: there's discovered nine babies last week in an apartment near bangkok. a japanese businessman owns it. he is 24 years old

constitutional or legal problem with the demand that the chief yourself need to be loyal to hong kong or mainland china. >> pro-democracy activists threatened an a mass sit in if not allowed a free election, is that weighing on chinese leaders at all? >> as i mentioned, the fact that people are protesting in hong kong is an indication of democracy, that, of itself, is not a problem. the fact is that those people who protest and occupy hong kong, or occupy central, they need to do so by abiding with the law. they cannot disregard the police requests for them to abide by the law, if they violate the law, they'll be treated as such. they cannot advance democracy by advancing the law, and legal rights, and more importantly, maintaining stability is crucial for keeping the economic and living standards of the people - keeping hong kong as a vibrant international center. if you lose stability, a lot of stake will be involved, and people will become victims of such protests and demonstrations. >> okay, we'll leave it there for now. thank you for speaking to us. victor gow a director at the china national asso

and as for mainland china torrential rain will likely pound many places. that will raise the potential for flooding as well as mudslides. lots of rain marks on the menu. rainy weather will continue into the weekend. high of over 30 degrees into your saturday. across europe massive clouds are rotating over the northern areas of europe. this has been affecting the scandinavian peninsula and the british isles. this is bringing in cooler air from the west lowering temperatures and we have hot air across the east. there is a potential for tornadoes, large hail as well as damaging winds on your wednesday and going into thursday, as well. temperatures over the east is quite hot. nearly 40 degrees in athens. quite chilly across the west down to 16 degrees. here is the extended forecast. >>> many people across japan are enjoying their summer holidays and the festivals that come with the season. one of the largest is taking place on the island of shikoku. more nan a million people are expected to attend the festival. teams of dancers parade through the streets to th

. >> northern shores, mainland china, man churia. >> yeah, man churia and mainland china. because what did we say the japanese were doing to resist the invasion? shipping their troops home from man churia, right? what happens if the soviets invade man churia? >> they're going to send troops back. >> yeah, even if they may send troops back, but at the very least, thief got to stop sending reinforcements to the home islands, right? so open up another front. prevent the home islands from the mainland. is that going to be enough to do in the japanese, though? >> no. >> people argue -- >> probably not. >> don't people argue, though, that maybe the japanese were more scared of the soviet invasion and maybe that's why they surrendered? >> yeah, that's -- and once again, we're cut -- as i told you, dr. enteen used to tell me, history is not a science. you can't go back and rerun it and change the variables. what we see is here oshima, soviet invasion and nagasaki right on top of each other. it's a 1, 2, 3 combination punch that causes at least some portion of the japanese leadersh

the number of visitors from mainland china and indonesia more than doubled and the figures for travellers from malaysia and the philippines were both up more than 60%. last year the number of foreign visitors exceeded 10 million for the first time. tourists can now find more flights in and out of tokyo's inner city airport, narita and more cruise ships are docking at japanese ports and people in the tourism industry are seeing another banner year. >>> colombia is shaping up to be one of the success stories of latin america. people there have seen some improvements to the security situation and they've seen stable economic growth. and that's starting to attract the attention of foreign businesses. nhk world's kenji mcculley has more. >> reporter: colombia has about 47 million people. the economy has been growing at more than 4% for the past several years. must office towers and shopping centers are going up and basic infrastructure, hospitals, and homes are expected to improve in the coming years. foreign companies see business opportunities in this trend. a leading japanese electronics ma

the editor is the first journalist from mainland china to take the editor's chair. e editorial line on china is looking more and more as though it was crafted in beijing and in the newsroom, one can hear the sounds of discontents. "listening post," on the larger issue of media freedom in hong . >> the south china morning post is an instittuesda kong. ner quality unfettered journalism with main land china. >> that's until relatively recently. . >> it's sort of a household name. right? and when i was young, it was my daily read. in recent years, i hate to say it, but this newspaper is becoming more and more like an official beijing mouthpiece. >> it has been in business for more than a century. hong kong is at a rossroads. now, it's more important than ever to create more room for dialogue and compromise. >> that's how i see myself and that's how i see newspapers doing. >> 1993, a malaysian businessman bought the south china morning post. four years later, in 1997. the last british back to china. back to the start of what beijing promised would be one country, two syst

>>> and that august figure was far below the market consensus, hurting investor sentiment in mainland china and hong kong. major benchmarks fell more than 1% during trading hours, although shenzhen ended in the positive there. the downbeat data triggered profit taking in the indexes. in hong kong the hang seng closed down just under 0.7%. 24, 994. shares of major issues took a hit and these include market heavyweight financial hsbc holdings and chinese internet giant holdings. taking a look at the overall picture in the region, bellwether indexes finished mixed as you can see there. investors jittery about the outlook for u.s. monetary policy. the worst performer being south korea with the kospi lower 1.4%. that did snap two days of gains. investors were concerned about the possible sale of its own shares held by the firm. >>> meanwhile japanese stocks got a boost from a weaker yen. the nikkei average rose over 0.8%. 15,586. and that is a three-week closing high. thursday's advanced marked the ninth straight session of gains. >>> supermarket sales across japan dropped again in july. this ma

the number of visitors from mainland china and indonesia, more than doubled. while the figures for travellers from malaysia and the philippines were both up more than 63%. foreign visitors exceeded 10 million for the first time last year. the number continues to rise this year as tokyo's airport is increasing its international flights. more cruise ships are also calling at japanese ports. >>> and there's some good news for travelers flying out of japan. officials at japan airlines and all nippon airways have decided to cut fuel surcharges on international flights for tickets issued in october and november due to lower fuel prices. it's the first cut that we've seen in 14 months. the surcharges are added to international airfares based on the price of fuel and are reviewed every two months. jal and ana will slash fuel surcharges for one-way flights connecting japan with north america and europe by 16% to about $200. fees for flights connecting japan with hawaii and india will be lowered by about 15.5% to roughly $130. >>> chinese authorities say they have fined

local or international forces, from avoiding using hong kong as a platform of subversion against mainland china. >> for china, the matter of hong kong's political future is finalised. it's spoken, and expect hong kong to listen. >> al jazeera's rob mcbride is in hong kong. the activists are prepared to show beijing how disappointed they are. >> in front of characters that read disobedience, the campaign's leader promise to occupy central hong kong. he is not saying when. the date when thousands are expected to bring the financial heart of the city to a standstill is kept a secret for maximum effect. for some, this is the day democracy died. for others, it's the start of the fight. >> we fight for our rights. we will have democracy one day. >> i don't know it will win. hong kong people should come out and support this. >> news to defines to grant democracy - causing civil disobedience, seen as the only way forward. >> normal protest is not useful to show pressure to the central government any more. >> reporter: in this highly divisive issue, tens of thousands of loyalists take to the streets, op

from avoiding using hong kong as a platform of subversion against mainland china. >> reporter: for china, the matter of the future has been finalised. it's spoken. they expect hong kong to listen. >>> pro-democracy advocates in hong kong are angry, rob mcbride reports. >> reporter: in front of characters reading disobedience, the campaign's leader promises to occupy central hong kong. he is not saying when. the exact date when thousands are expected to bring the financial heart of this city to a standstill is kept a secret for maximum effect. for some, this is the day democracy died. for others, it's the start of the fight. >> only if we fight for our rites, we will have democracy one day. >> i don't know if we'll win, but hong kong people should support this. >> news of this was greeted by activists. civil disobedience is the only way forward. >> normal protest is not useful to show pressure to the central government any more. >> in this divisive issue tens of thousands of beijing loyalists have taken to the streets, opposed to the occupy central movement. this is as close as hong kong

bob iger and the rest of the disney team is excited about the prospects of having a business in mainland chinachinese,atered for the the theme parks that some of them have already experienced in other markets. it is one that will be interesting to watch in terms of the succession story at disney. the parks business is currently run by tom staggs, so he is hard at work at that project, and people often mention of him as the ceo. >> we are looking forward to seeing jon erlichman at disney china when it opens. joining us from burbank, california. let's turn our attention to the um takingness for place in washington dc. hans nichols has been covering the event all day. he joins us from washington with a guest about farm machinery. you want to talk africa, you talk agriculture, you opportunities we are joined by martin richenhagen. the ceo of agco. what are the prospects for growth? >> the population is about 1 billion and will double within the next 25 years. thateauty of africa is they own 80% of the world's arable land. when your member the history of america, it all started with farming long be

casino industry, the population is something like 150,000 workers who come to work here from mainland china who they say is threatening their livelihood. they're taking to the streets and marching through macao as many of these world brand casinos to take--vent their grievances. the gross domestic product is staggering, many don't see that, a lot of that is repatriated from the profits of the casinos. these people are very much campaigning to have more of a share of the profits of this place, and is one of those grievances. going unanswered in macao. >> the top two teams from the premier league. as manchester city hosts liverpool. >> we'll go to sports. >> thank you very much. the football federation say it is considering expelling one of its own clubs from all of its competitions. it follows the death of a player after being struck and hit by an object on saturday. cameroonian striker was killed after being hit by an object thrown from the stands following the 2-1 loss. the 24-year-old was pronounced dead after being taken to hospital. the next round of league matches have been suspended i

. >> northern shores, mainland china, manchuria. >> yeah, manchuria and mainland china.ause what did we say the japanese were doing to try to resist the invasion? they were shipping their troops home from manchuria, right? what happens if the soviets invade manchuria? >> they're going to send troops back. >> yeah, even if -- they may send troops back, but at the very least, they've got to stop sending reinforcements to the home islands, right? so open up another front. prevent the japanese from reinforcing the home islands from the mainland. is that going to be enough to do in the japanese, though? >> no. >> people argue -- >> probably not. >> don't people argue, though, that maybe the japanese were more scared of the soviet invasion and maybe that's why they surrendered? >> yeah, that's -- and once ent tell me back in my day, history is not a laboratory science. you can't go back and rerun it and change the variables. what we see is we have hiroshima, the soviet invasion and nagasaki right on top of each other. it's just a 1, 2, 3 combination punch that causes at least

the city's struggle with mainland china coming up next on al jazeera america. there was celebration as there was debate, the return of bow bergdahl. here's a look at that summer story. >> in hayley, idaho, it was a time of relief and celebration. yellow ribbons and smiles. the vigil was over. bowe is coming back. >> everybody is on the phone. and it just went crazy in the restaurant. >> that excitement did not last. most of these yellow ribbons have been taken down and the celebration does has died. the rally was canceled after intention negative reaction after a deal that exchanged bergdahl. a military administration investigation into the circumstances of his capture continues with a final report expected later this month. he could still face criminal charges and be court-martialed for walking away from his post and into the hands of the enemy. the congressional accountability office has claimed the prisoner swap illegal saying congress was not given proper notice. sergeant bowber dal still in limbo and still a long way from home. adam schauffler, al jazeera.

. >> northern shores, mainland china, man churia. >> yeah, man churia and mainland china. because what did we say the japanese were doing to resist the invasion? shipping their troops home from man churia, right? what happens if the soviets invade man churia? >> they're going to send troops back. >> yeah, even if they may send troops back, but at the very least, thief got to stop sending reinforcements to the home islands, right? so open up another front. prevent the home islands from the mainland. is that going to be enough to do in the japanese, though? >> no. >> people argue -- >> probably not. >> don't people argue, though, that maybe the japanese were more scared of the soviet invasion and maybe that's why they surrendered? >> yeah, that's -- and once again, we're cut -- as i told you, dr. enteen used to tell me, history is not a science. you can't go back and rerun it and change the variables. what we see is here oshima, soviet invasion and nagasaki right on top of each other. it's a 1, 2, 3 combination punch that causes at least some portion of the japanese leadersh

casinos are illegal both here and in mainland china. the 15 gambling halls here are packed. 're not all tourists. look closely at the people wearing headphones. they work here placing bets on behalf of clients back in china. the satellite dish outside makes sure that the connection never drops and money keeps coming in. welcome to a sin city state of gambling, prostitution and drugs. the consequence of a peace agreement signed 25 years ago. the deal saw rebel fighters stop insurgency and in return the government gave them full control over a small strip of land along the chinese border. there's no real law enforcement here so this market in particular have become notorious for openly trading in parts of exotic and endangered animals. we filmed secretly and saw ivory, leopard skins, tortoises and snakes. that's the hide of an endangered species. its scales are used in chinese medicine. not far a way, we see two that are still just about alive. their cages outside a restaurant. if this is not to your taste, the menu also includes black bear and python. this is in itself shockin

local or international forces, from avoiding using hong kong as a platform of subversion against mainland china for china, the matter of hong kong's political future has been finalised. it's spoken and expect hong kong to listen. >>> according to analysts, the chinese government doesn't want people to nominate candidates, because some could be hostile to china. you are looking live to south of miami florida. it's sunday, you have time to get out and enjoy the holiday weekend. kevin corriveau has a look at the labour day forecast. i hope you enjoy sunshine. >> i am. if you go up the coast into new orleans, it's a different story. we have heavy thunder storms. i want to show you the video in this area. take a look now. we have seen about six inches of rainfall. flash flooding and flooding is going on. a lot of people's homes have 2-4 inches in there, and unfortunately, there's not a lot of good news. we have rain coming in the forecast. we are looking at the rain coming in from the gulf of mexico. new orleans is not bad. baton rouge - it's lake charles and toward parts of texas. this is where we

population here are something like 150,000 workers who come across and either live her or come from mainland china people say are threatening their livelihoods and taking to the streets and gathering for a march through macow and past the world grand casinos here to take and vent their grievances and makow jumped to fourth in the world and skipping over even switzerland and the gross domestic product is a staggering $90,000 u.s. dollars a year and the people do not see that or very much of that $90,000 u.s. dollars a lot of that is in profits from the casino so these people are very much campaigning to have more of a share of the profits of this place. and it's one of those grievances here which campaigners for right of expression for free speech here say are going unanswered in the camp. >> rob mcbride and french prime minister has offered government resignation over economic policy. now some ministers criticized austerity measures and accused germany of the writ across the land and professor of politics in paris and welcome to al jazeera. is this split in the rank and file of the cabinet a rank

part of what i would like to see if there were to be a citizen university in mainland china would be to help foster this not in the spirit of challenging the authority of the communist party of a threat and the government there would actually in the spirit of this is a well made china a stable and resilience and adaptable without new revolution of long-term. what but robert and i would describe as tablets of the heart that can begin to be processed and taken to heart in different parts of china. you think about authorizing the socio-economic boehner more than a quarter century ago. tear, you know, we are going to create zones where you get to play capitalism we will plan and. rita wanted to go too far too fast but we will do that and then methodically with that spread as it works. i, you know, i think china government would benefit if they began in some ways to imagine a civic version of socialist economics. >> i think it is actually probably gone considerably farther than the already with the adventist ways like twitter, suddenly you have hundreds of millions of people on line shari

on track to finish their fiscal year 2014110 gap stores across main mainland china, hong kong and taiwan. clearly, david, a chinese effort is really important. david: not bad at you will, though after hours is not moving much at you will. certainly not big moves we're seeing in other stocks. ryan, let me talk about investor confidence here, clearly at one of the highest points in a long time. i'm wonder if that is concern to you? some people think higher investor confidence goes the more danger there is of a big fall. what do you think? >> that is exactly true, david. bull market peaks, when everyone is bullish, one thing we impress by, 4% dip, off the charts bearish almost all year. put to call ratio highest level of fear. right now the qqq, nasdaq 100 up seven days in a row. people are feeling goo good, two weeks ago, all this stock is the big one. comes 10% correction. sure we go higher. eventually we pull back more, all that freaking out and all that fear come in -- david: freak out is a good thing. >> from a contrarian point of view, on modest 4% pull back you love to see that absol

official start date for the program, which will give foreigners unprecedented access to stocks in mainland chinahowever, the link is expected to start next month. it is now even easier for china's local governments to borrow money. beijing has begun the direct selling of bonds to fund public interest projects. debt sales to finance day-to-day expenses remain banned. they earlier prohibited all bond sales, forcing local governments to step up financing vehicles towards infrastructure spending. the french prime minister has called on the european central bank to do more to weaken the euro. he described the action taken so far as strong but said the ecb must go further. deflation in the euro zone continuing to grow. the euro has weakened almost 4% since june. policymakers will meet later this week. thousands of jobs are to go at malaysia airlines. this is part of the major overhaul to save the company. the carrier will also be delisted after being hit by two disasters in the last six months. let's bring in our southeast asia correspondent. how extensive is this plan? reset, ait is a hard clean slat

christianity has grown in mainland china and this is the chinese government's way of controlling it. >> you want to look at this, a racist homophobic light show to target president obama. new york magazine showing us the pictures of a celebration held by students in moscow for president obama's 53r 53rd birthday. it shows him swallowing a banana. they came it's a protest against the u.s. handling of the crisis in ukraine. interesting now that the sanctions that you just heard him talking will be hitting russia. whether or not that will thank their perspective on vladimir putin. >> a lot of people will view that as a blatantly racist statement being made there. >> the wall street journal reports a 2-year-old squeezed through the bars in the fence. the secret service scrambled to grab the little kid. a spokesman for the secret service jokes they were going to wait until the toddler was old enough to talk to question him. he was given a timeout instead. >> knowing washington like i do, they probably will when he gross older. >> residents in who way urged to stay indoors. iselle downgrad

central bank ties the noose around some of these corporates will have high leverage in china or whether they allow the mainlandsimply grow out. if the revenues coming in, sometimes they're not all that challenging. >> i think that the execution in china involves a lot of risk. but the debt has increased dramatically over the past years. overall growth in chinese debt, not growth, but levels over 200% of gdp, which is compared to what we see in developed countries. debt levels have been achieved in a short period of time, which means a lot of bad debt has accumulated. and we are seeing rising cases of default on year default among wealth management products, even corporate bonds. this is going to increase volatility in the past few markets in china going forward. but it's something we have to live with. and the good news is that the government continues to put such a high degree of control over the economy. mostly they will be able to manage the volatility. >> appreciate the comments, darius. thank you to galtum who has been with us for the first half of the program. investors with insignia wealth. >>> still to

slightly increasing the forecast for the mainland gdp in china. 7.5% goes backing to what you were makingknow the primary focus in the latin america businesses is mexico and brazil, but the other thing that would be interesting is it if impacts argentina and what they are saying about that. >> the comments from the chief exec will be interest on that. they don't have a massive business there, but of course that is an issue for the whole region. so very important to see what they say on that. and whether these kind of big macro moves that are going on at the moment are going to stop affecting companies like hsbc. >> i want to finish the discussion about the letter that was talked about as far as mark carney is concerned and just stopping the separation right now because of the business and the competition issues as far as lending is concerned, what are your thoughts on this? then i'm coming to you. >> i think it's going to be under a lot of scrutiny, the deadline of 1919 is quite some way off anyway. it's just doing it for what i think the point is is that they may have to up cur legal fee

china is demanding that the u.s. stop military surveillance of the chinese mainland. this comes by a fighter jet intercept of a u.s. plane. these are the images taken. the chinese pilot flew close and did a barrel roll over the american plane. china is demanding that the u.s. obey the law. this is legally international air space. /beijing is claiming those areas as chinenine territory. >> in ferguson, a police presence remain. the na a cp organized a march. another rally in st. louis in support of the police officer involved in the shooting. mike tobin has more. >> reporter: the brutal heat kept people off of the streets. but the planned marched. you mentioned thenaa cp youtheraly and had 200 demonstrators. and the obvious sign of the police roaching out to the black community. carrying the banner was captain ron brown, commander of the multijurisdiction task force. and sam johnson. they were all carrying the banner. they need to be careful to prevent outside agitators from coming in and destroying the calm. molly. >> mike, cemeteriers of officer wilson were out today and a little bit of a change that we are seeing

china shares trading sharply lower ahead of the release of its interim results. the weakening yuan versus the u.s. dollar is set to weigh on earnings. also, another headwind for the carrier on the mainlande increase of military exercises seen in china causing delays and cancellations of domestic flights. joining us on the line from sydney is oliver lamb, managing director at avon pacific aviation consulting. oliver, good to have you with us. what do you expect first of all from the numbers? >> yeah, good morning, louisa. it's going to be an interesting day for china. it's been a surprisingly challenging year for the carriers this year. two of the big things that have happened have been the surprised weakening of the chinese won and the military exercises in eastern china. surprisingly for a country with big headlines. >> how would you describe or what's the chinese airline environment like as a whole? >> one of the big factors of the chinese airline environment is that all the major chinese carriers are highly leveraged. their debt is denominated in u.s. dollars, which means when this is a depreciation in the chinese won, all the debt repayments go up. not only that, but their fuel paym

china except in a narrow circle. >> now that the communists are in power, what do you think will happen to the chinese people? >> when the armies drove chaing kai-shek out of the mainlandt thing he did was to take away the arms of the population. the consequence is that regime is fixed until such a time until such a time as the failure of its methods, failure of productivity, should cause the regime itself to change. and no doubt they will have fights amongst the chinese leaders. they've already shown that and often enough revolutions of that kind in history are blown up by fights among the leaders, and there are some of those fights going on now. >> the russians, of course, will have influence on the chinese. the do you think that the russian attitude on easing world tension may have some effect on the chinese red? >> well, i think they may have to restrain them if they want to get their own objectives. we may be witnessing a phenomena as well to that which we saw at the time that stalin came into power. he wanted time to build up his industry and his armies, and he was in the most peaceful thing there was running around the earth at that time. he joined the league of