singapore now leads other asian nations with outside investment money coming in. we asked tim mulholland of china america capital what makes singapore so appealing to investors. "what's attractive about singapore is they have a very solid financial infrastructure. extrememly sophisticated. they have a very sophisticated workforce and most importantly, there's a real rule of law there with protection or property and i think that's a very important thing." singapore also was also first among asian countries to sign the 2003 free trade agreement with the u.s. china's economy is in focus this week. chinese officials are assuring skeptics that its economy is stabilizing after growth slowed for 10 straight quarters. the government says there are new signs of momentum, and china should hit its growth target for the year. chinese officials are assuring skeptics that its economy is stabilizing after growth slowed for 10 straight quarters. the government says there are new signs of momentum, and china should hit its growth target for the year. in greece -- the country is se

i've been to singapore and they have the singapore fling but that district slows down at night so what attracts people to that area. i think primarily the membership is 5 hundred and 50 people so it's a board array of people >> so you're starting with a 5 hundred base and we have a membership of 15 and we got up to one-hundred and 20. we ask people to think about who they want to invite. in the long term we've invested a lot of money and hopefully it will stay alive >> okay. i'll be dead by then. i have a couple of questions the acoustics has to do with ceiling tile are they going to surface those? >> yes, it's between floor 2 and 3 to sound proof the room upstairs. there's a floating element above that and you have acoustic plastic ceilings above that to stop the noise >> okay commissioner. >> yes. so is the lodge not separate from the restaurants? >> it's a very large open space on the ground floor so it's not separate. >> >> the noise out there will be controlled by management everything a - >> and there's no residents or neighbors around there it sounds like it's a closed space and

a lot more about people be able to imagination with a dive - >> there's a big difference from singapore and new york. i i mention you have a lot of experience. our law says no establishment may allow the premises to be sole legal for the private club between 2:00 a.m. and 6:00 a.m. would you be willing to not conduct a private club >> i have no intention of opening during those hours we have hotel rooms in the building. for me a lot of the balance is i don't want the guests waking up me in the middle of the morning >> do you participate completely in the club. >> you can be a member of the public to rent a room and you become a member for the time in the establishment. so outside people can get the participation in the club >> and your attorney said something to the effect they'll be no cash exchange. >> there will be cash exchange by to open a account at the bar you have to have a reference number. there will be event spaces that will be available for outside groups >> so you allow people to rent from weddings to other events. >> so what kind of events are you going to do in you're up

new zealand. >> singapore is an asian country.s is a stepping stone for us. it is a process. the process is now being done by singapore and taiwan. if the process is ok and there is no additional problem, a think there is the possibility it will be positive for taiwan to be part of it. why not? >> this is very preliminary. >> preliminary. we have to put it on the near- term and long-term goals. >> i think it is important you mentioned that two economies are very complementary in nature. taiwan is very much export dependant. we need to look for overseas markets for our products and services. in the last 20 or 30 years, we have been very dependent on the market in the u.s., also in europe and japan. in the last 10 years, has played a big role in terms of taiwan's export market. now over 40% of our exports and services go to china. indonesia being one of the largest countries in terms of population and land size is very attractive to taiwan. there is a lot of room for growth in terms of bilateral trade and very complimentary sense ta

adam bakhtiar in singapore.of the morning is stabilization after that big sell-off yesterday. >> yes, we're seeing things stabilize. i caution the fact that with the release of the minutes out today in the united states, investors are still very jittery and nervous. you see behind me in the wall, the picture really mixed out here in asia in anticipation of fed tapering. as i'm speaking now, if you can kick off with emerging market space, we're seeing huge volatility once again. the indian market which had rebounded following losses the last few days, that gave way to deeper losses as we're seeing weakness again in the indian rupee versus the u.s. dollar. that has hit another record low as of today, even though yesterday we saw that currency rebound. that could be affecting the equities picture at this point in time, market still trading. deep losses, 258 points across the board there. indonesia managed to rebound from yesterday's two-day selling route that took the index down by 9 plus percent. indonesia's presi

i'd much rather live in singapore and hong kong or the united states while there is great inequality, because the ecosystem of values -- i put it earlier -- naturally exhibits aspects of inequality that we would all prefer to be in those wealthier places. and upward mobility opportunities, these places afford greatly outpace those of the more equal societies, as it were. >> host: finally, i want to read again from "super wealth." financial regulation is complicated, and there are vigorous debates about what sorts of regulations are good for preserving the system as a whole while not hampering growth t. we haven't the space to launch these debates in this book, but there is a whole class of regulations that is no good to anyone. what are some of those regulations, and what are some regulations that you think might be good? >> guest: um, i think primarily -- specifically in the financial sector? or in any sector? >> host: you talk about the financial sector. >> guest: financial sector. i think one of the -- the financial sector is extremely complex, but one of the things that happens wi

we try to model ourselves after singapore.ime the detroit has gone from 2 million people down to 700,000 from 1950 until the present, singapore has gone from 1 million the 4 million people. we would be business friendly. we would have some taxation principles which would make us very competitive. number one is we would not tax anything we want to encourage. number two, taxes have to be transparent. john: we don't want to tax anything. encourage. >> we don't tax investment or labor in come. john: you do tax. >> consumption. and the primary tax would be a real estate tax, but it would only be on the raw land value of the property owner, not upon the improvements that that person puts on the land. john: and you would have to speak english to come to your community and bring in $300,000 to be a citizen. >> however, we would have a process. we would waive the fee. john: why? >> well, if it brings special skill or a burning desire to be free. john: and you really have serious investors. >> yes. john: plenty of people's response to t

we try to model ourselves after singapore.he detroit has gone from 2 million people down to 7,000 from 50 until the present, singapore has gone from 1 million the 4 million people. we would be business friendly. we would have some taxation principles which would make us very cpetitive. number one is we would not tax anything we want to encourage. number two, taxes have to be transparent. john: we don't want to tax anything. encourage. >> we don't tax investment or labor in come. john: you do tax. >> consumption. and the primary tax would be a real eate tax, but it would only be on the raw land value of the property owner, not upon the improvements that that person puts on the land. john: and you would have to speak english to come to your communitynd bring in $300,000 to be a citizen. >> however, we would have a process. we would waive the fee. john: why? >> well, if it brings a special skill or a burning desire to be free. john: and you really have serious investors. >> yes. john: plenty of people's response to this is, are y

the national university of singapore is one of asia's leading educational institutions. ♪ yale nus collegeeld an inauguration ceremony tuesday. the singaporean government provided funds to build the campus and is shouldering the personnel costs. the four-year college adopts the yale system of cross-disciplinary education. each class will have a maximum of 18 students. the pirating group of 155 students was selected from more than 10,000 applicants. 60% of the students are from singapore. the rest are from the u.s., india, china and other countries. >> i just want to embrace all possibilities. because this school is offering us amazing opportunities for us to learn and to explore. >> this is something completely pioneering, something really new. and unlike anything else in the world. i think i want to understand where i fit in a global scale as well as how my sort of cultural conditioning has led to where i am today. >> some u.s. and european universities have established campuses in asia, but it's rare for western and asian universities to jointly set up a college. >>> there's a storm maki

asian oriental policy the us has been strengthening its and wyness with australia the philippines singapore thailand and vietnam deploying troops as well as seeking to sign cooperation agreements now washington claims it's just protecting its economic interests in the region but as pulse caught explains that's not the whole story. america's increasing interest in the asia pacific is defined by the white house as an attempt to strengthen economic and security interests in a paper released in two thousand and twelve washington makes no attempt to shy away from the fact that china's dominance in the region is a concern saying its emergence has the potential to negatively affect america's economy and security but go some way to explaining exactly why the u.s. is beefing up its military presence in the region but the exact extent of their muscle flexing is causing some to suggest it's an attempt at containment which will only intensify friction in the region the idea that the united states is protecting the interests of the world against chinese influence is clearly absurd all the united states

is being invited back you look at japan south korea look at in fact china ally for long times singapore and of course vietnam philippines malaysia indonesia australia india and so when the u.s. is being invited back we have to look at the correlation that's concerned about the robustness on china's part john you want to jump in could i can tell instantly go ahead please i please clean since i seem to be i seem to be in the minority here. i think that when one talks about japan and south korea one must remember that those are both occupied countries u.s. forces that is not trivial secondly i think that you have to look with the u.s. foreign policy establishment is saying richard armitage former undersecretary of state and joseph nye were recently and a trip to japan an unofficial mission but blessed by at secretary of state hillary clinton and before that they wrote an article. i believe it was in foreign affairs i can't recall i think it was in foreign affairs. and what they were trying to do in that article is essentially go to japan into confronting china you know absent. in the comme

joining us from singapore is richard jerron, chief economist at bank of singapore. your initial response to those numbers? >> yeah, certainly good numbers. i guess we have been seeing this for the past four or five months in europe. it does seem that as the head winds from fiscal tightening fade, the economy is starting to lift. i guess that's also what we saw in the gdp data last week. i think it is quite encouraging. >> the french manufacturing number that missed expectations. do you think the second quarter growth number from that particular economy was an aberration, was it too early to pop the champagne bottles there? >> well, i don't think you can expect every single number for every single country to increase every single month. always going to be a bumpy ride in some cases. if you look broadly across the eurozone it quite clear the trend is for the economies to be coming out of recession. i think as i say less austerity, better policy mix in terms of pro growth policy mix. i think broadly it is quite encouraging. we were worried about the emerging markets, b

singapore is 21%. korea is up 38%. and i could continue.when you're enjoying that type of growth, frankly, you are in an ideal position to do m&a because you don't have to. and it only creates value because it has bargaining power. because it's really very attractive, so we can be selective and do m&a only when it's extremely attractive because we can grow anyway, and that's a very comfortable position. investors understand that. we're quite cautious. a funny statement to make when you've just raised it by 16%, but it's giving us -- how can i say -- this overgrowth we can capture, and we are not trading growth from dividends. so first we fuel our appetite for growth, and then we set the dividend. >> let's leave asia to one side for a moment. i want to talk about what's happening in the uk and in the u.s. with the new bank of england governor, just give me your initial thoughts about forward guidance. how much is it really going to do to stimulate the uk economy, and at the end of the day, your clients, your consumers? >> i'm not going to ma

i'm going to let you know please hold your applause until the end please welcome indonesia japan, singapore and introducing supervisor erick. so i'm going to read the operation it's beautiful. today mayor lee is proclaiming asian panic heritage month in san francisco and the final whereas clause is most profound there's about it resolved the mayor of the city and county of san francisco in recognition of a 35 anniversary the federal legislation launching the celebration and in honor of this year's theme honoring achievement in the performing arts do hereby proclaim may as asian pacific heritage month. (clapping) (clapping) >> all right. so which for acting mayor david cowen please give a warm welcome to board president chiu. >> going it's good to be here supervisor cowen as well as supervisor mary and our school board member and all of you. i wish you could see the crowd from where i stand you are truly a beautiful crowd i'm going to say a something that's political risky i'm going to say with president obama said you are the best looking most beautiful crowd in san francisco. i was a littl

this summer there was a project in singapore, urban prototyping singapore where we worked with local interests to open up over 30 private data sets and we had to engineer, what kind of contract would you have? how would you handle privacy? how would you let people use it for only that purpose? that form of innovation as it spreads here and elsewhere i think leads to a whole lot of new possibilities and applications. and this great cross trading between the private second for and public sector is just now taking off. in many ways san francisco has a special responsibility here. lots of cities are investing in opening data. that's a lot of supply. you need the demand side to prove to the city it's worthwhile and to prove to the public you can build an ecosystem there. we can do things with that whether bottom up activities, gray area or private companies. so, it's a moment of real burst of innovation and the landscape changes as the public and private sides come together. >> i very much agree with everything that was said. i'll add that in addition to the public sector, at the city lev