after the south sea bubble crash here they're doing it before before the mega craft that's cooked into the cake at this point and what this tells us is that the global economy particularly in the u.k. where the jet the debts the g.d.p. in the u.k. couldn't bank that is just under a thousand percent of g.d.p. there has already ben this magnificent crash in the u.k. economy that camera on. he and ahs bore and mervyn king over there to bank of england through price manipulation. i are are hiding the crash essentially but now the people on the street are beginning to feel because for example gas is out of all time high priced in british pounds that's the result of oz born sneaking in this one hundred year guilt and other quantitative easing techniques and try to hide the fact that they're standing in front of the curtain that's hiding like the wizard of oz this multi-tiered the british virgin has over five trillion pounds in debt that's there they're not even officially keeping on their books well ok let's talk about this hundred year guilt however who sold it to them if you're sitting at

mai, you might want to first tell us about the tropical storm in the south china sea. >> sure, michio. i think you will remember the tropical depression that has been hovering over the south china sea for whiquite a while . this has intensified and is now a tropical storm moving in a westerly direction, very, very slowly. actually it was very stationary over the south china sea for quite some time and then now it is inch by inch moving towards southeastern coast of vietnam. it is already directing -- directly affecting these coastal areas with high waves, gale warning over these south china sea water will be affecting these areas with more stronger winds as it approaches the coastal areas. now the wind gusts are already reaching up to 90 kilometers per hour and the very heavy maker will be moving towards land and could be making landfall in the next few days. we'll definitely keep you updated, not only this pikar is directly impacting the southeastern coast of vietnam, it is actually surging a lot of moisture from this direction and northeastern monsoonal flow is being very much enhan

the peoples republic of china especially in reference to the crisis we're faced with at the south china seas? >> well, first, thank you for those very kind comments. it's a great honor to represent the people of your district and to reach out to the south pacific region on behalf of our government. we are working to further a positive cooperative and comprehensive relationship with china. we think that is in the interest of the american people both economically and strategically. we have welcomed the peaceful rise of china, and we expect as china continues to develop that it will assume more responsibilities globally. with respect to the south china sea, it has been our position that although we do not take any stand on the rights attached to any territorial claim, we strongly support the peaceful resolution of such claims in accordance with international law. that has been the position we have taken at asean at the east asia summit. because it's not only about the south china sea, which is as you know so well, a very important part of the world's oceans through which more than 40% of the wo

what we have seen in the south china sea is a whole host of disputes of violence across the south china sea as well as greece. china can test a lot of these islands with a number of countries in the region. why does this matter? this is home to some of the busiest shipping lanes and is believed to control some of these. as you pointed out, china, certain countries around the world point out that china is becoming more assertive in its claims. china wants to resolve these disputes through bilateral talks one on one with each other but they would like to see a multilateral approach to this and that is a stance backed by the u.s.. >> alright, we will leave it there in beijing. teams searching the wreck of the coast the consortia have found five more bodies and it is reported that they were discovered to reach -- they were discovered two and a half months after the cruise ship sank off of the italian coast. two other people are unaccounted for. the was a good council has demanded that troops be withdrawn from syrian cities. these are the latest pictures that have not been verified and they

was a company created to sort of take advantage of what was seen as an economic opportunity the south sea it blew up and it got bailed out by the british parliament and if you pick up the paper and read what was written about how the parliament got bought it sounds like it's out of today's papers so you know the roots of this are are pretty old in the us round early part of the nineteenth century the dartmouth college decision you know eighteen fifteen yeah right right would so that was it on john marshall decision essentially said that once a charter is given it can't be taken back that started the wheels turning you're right about the charter mongering era but you know before that the fourteenth amendment was passed in order to guarantee protection under the law to people right to african-americans who just been free and. in the first fifty years of the fourteenth amendment the vast majority of cases brought before the supreme court for it were from companies seeking the rights of people and over the course of one hundred years in suing at least five of the ten rights in the bill of rig

with respect to the south china sea, it's our position that although we do not take any stand on the right s attached to any territory claim, we strongly support the peaceful resolution of such claim s in line with enter nabl law. th -- with international law. it's not only about the south china sea as you know so well is an important part of the world's oceans through which more than 40% of the world's trade passes, but it's also about how we resolve disputes concerning territories, in or near bodies of water of course whether it's the arctic or the south china sea of course it's important we stand for the rule of law and the peaceful resolution of any dispute s and we have made it known to our friends in the region as well as to china. >> thank you madam secretary. thank you madam chair. thank you and madam secretary, lacking other members berman and i will share our time with you. i'll ask about the keystone pipeline so start the clock. >> i withdraw my -- >> as gas prices continue to soar, burdening the american people in this time of economic hardship, we must continue to examin

mai, it seems that tropical storm over the south china sea is nearing cities in vietnam. at's the latest? >> yes, michio, that's absolutely right. over the south china sea, you can see the symmetrical circulation. this is the tropical storm pakhar, it is moving slowly toward the southeastern coast of vietnam and it will be making landfall possibly overnight to sunday. as it does so, because the water is very warm, above 28 degrees, it will be intensifying as it does so. and after making landfall, it will be weakening as it moves inland. now, already, gusts are reaching 108 kilometers per hour and once the primary threat from this storm is that in the next 72 hours the amount of rainfall accumulation is going to be staggering, about 300 millimeters in the coastal areas, already picking up waves too. so a lot is going to be happening in the next few days and it is very slow moving one, so the prolonged accumulation could lead to some flooding and also landslides, mud slides. also, very staggering amounts of accumulation is detected here in luzon, in the philippines, eastern

mai, it seems that tropical storm over the south china sea is nearing cities in vietnam. what is the latest? >> yes, michio, that's absolutely right. over the south china sea, you can see the symmetrical circulation. this is the tropical storm pa c pakhar, it is moving slowly toward the coast of vietnam and will be making landfall overnight to sunday. tass does so, because the water is very warm, above 28 degrees, it will be intensifying as it does so. and after making landfall, it will be weakening as it moves inland. now, already, gusts are reaching 108 kilometers per hour and once the primary threat from this storm is that in the next 72 hours the amount of rainfall accumulation is going to be staggering, about 300 mill meeters in the coastal areas, already picking up waves too. so a lot is going to be happening in the next few days and it is very slow moving one, so the prolonged accumulation could lead to some flooding and also landslides, mud slides. also, very staggering amounts of accumulation is detected here in luzon, in the philippines, eastern seaboards are pic

virginia claimed boundaries stretching to the south sea based on its charter from the crown back in 1609. the virginians were very much expansionists. and leading men of virginia had already formed a land company which got british permission to colonize this area. and if a certain number of colonists could be situated there, let's say 100 families, that company, by right from the king, could receive a grant of up to 500,000 acres. so there was much at stake. it was not only in the interests of ordinary british colonials in colonies such as virginia that were at stake, but also the interests of a land company such as the ohio company that wanted to expand settlement and do so in a way that was profitable. and acquire land and legal title from the crown, bargain with native peoples and then bring on settlers to establish a profitable enterprise. well, of course, the colony of virginia in 1753 decides to send a message to the french in the ohio country. we know who they send as their messenger, right, who the governor sends, the governor of virginia, robert dinwiddie at the time. and he sen

and within that rubric, specifically the south china sea. >> i think i just mentioned some of the key american interests, not only in the western pacific, the south china sea, but everywhere, which is free movement of ships and goods, free -- freedom of navigation. the straits of malaca and 40% of the world's trade goes through those straits annually. we for the good of the economy not only of north america, but for the world need to make sure that those -- those sea-lanes remain open, that they remain free from piracy or any other sort of things that might block them. we are going to -- as i said, have had a persistent presence. we have a carrier homeported in japan. we have an amphibious ready group in southern japan. we have marines and air assets. i think you'll see in the future our newest ships being deployed to singapore. you'll see other assets being deployed for lift for our marines which are going to be rotational. in australia they'll be a mix of rotational and permanent in guam and any place else that we end up in the western pacific. so i don't think you'll see a big -- b

joint exercise will start on april 16th on the western philippine island of palau wan in the south china sea. japan and other countries will join computer-simulated exercises in the manila. the partners will practice rescue operations and aid operations in the disaster. japan's self-defense forces will take part along with indonesia, malaysia and other nations in the south china sea region. >>> in myanmar, pro-democracy lead are aung san suu kyi's motorcade has been attacked during an election campaign tour. the attack injured her bodyguards, but left her unharmed. the national league for democracy says a bullet from a careful caid was fired at the motorcade on tuesday night. the cars were driving on an expressway about 140 kilometers north. they were on the way back to the country's largest city after campaigning in the capital. the league says a window was broken and two bodyguards wounded in a car following aung san suu kyi's vehicle. myanmar will hold bi-elections for the upper and lower houses as well as local assemblies on april 1st. the national league has recently reregistered as a p

sea boards. tropical depression over south china sea is still going to be lingering there. it's going to stay here for about another 72 hours. it is going to intensify, and it looks like it's going to become a tropical storm. and if it does, it will be the first in eastern asia this year. it's likely to intensify in the next 24 hours. so coastal flooding and flash flooding along the southeastern coast of vietnam is going to be very troublesome in the next couple of days. tokyo, we're looking at 14 degrees temperaturewise. reaching up to 17. in beijing, 19. heading over to the americas now, the system that was troubling south ontario and the great lakes, that will be moving towards quebec and in the new england region, dropping heavy amounts of freezing rain, as much as 5 millimeters. that's going to be causing troublesome dangerous winter weather driving conditions there. the associated front that is stretching all the way down toward the central plains, this is the area where you may see severe thunderstorms to be igniting. hail and damaging gusts are not ruled out. pacifi

indeed i'm intentions in the south china sea have rarely been higher. at the same time the number and sophistication on american targets by chinese at various likely with chinese government involvement in many cases is growing increasingly severe and damaging. indeed, last year's report from the office of the national counterintelligence executive makes clear quote, chinese actors are the world's most days and persistent perpetuators -- perpetrators of economic espionage. and afghanistan, the taliban and insurgencies damage but not broken and regrettably there will to stay in the fight against the international coalition and afghan partners has only been increased by the administration's repeated public commitments to certain date for withdrawing our military forces regardless of conditions on the ground you meanwhile, pakistan remains as fragile and combustible as other ms eyewitnesses statements are clear, pakistan's intelligence service continues to support terrorist elements inside afghanistan that are attacking and killing americans. direct the fra

it's kind of in between the south china sea as well as the indian ocean. lot of ships that want to go from the pacific ocean to the indian ocean, they all have to come down through singapore and then cross over the other... to the other side. in that sense, its location is favorable. but it also has a natural harbor with nice deep water, and that has facilitated its port activities. narrator: the port is closely integrated with singapore's changi airport, asia's second-busiest. here, freight is exchanged between air and sea. but for such a busy place, singapore is quite small-- just about 400 square miles, only about a quarter the size of rhode island. more than four million people are packed into this tiny island state. 76% are ethnic chinese, 14% are malay and about eight percent are indian. ( indianusic playing ) singapore has a long tradition as a base for foreign traders. its can be seenr history in the architectural reminders of its days as a british colony. that tradition continues with singapore serving as a popular location as the headquarters for

south korea estimates that the first stage of the rocket will fall into the yellow sea after 140 kilometers off the southwestern coast of the country. the second stage is expected to drop into the pacific ocean, 190 kilometers east of the philippines after it is shed by the ascending satellite. south korea's defense ministry plans to deploy a destroyer to retrieve the first stage in cooperation with the u.s. >>> japan's defense minister says he may order the self-defense forces to destroy a rocket that north korea announced plans to launch next month. tanaka was speaking at a session of the diet. >> translator: i am considering ordering the destruction of the rocket after getting the go ahead from the prime minister. >> tanaka said the defense ministry would consider deploying the patriot missile defense system and egis equipped destroyers for the task. tanaka added the minister will take measures to protect the japanese territory. there is a great deal of speculation about the timing of the north korean announcement. for more insight, we spoke with an associate professor at japan's nationa

think i just mentioned some of the key american interests not only in the western pacific or south china sea, but everywhere, which is free movement of ships and goods, freedom of navigation. the straits of malaka, 40% of the world's trade goes through those straits annually. we, for the good of the economy, not only of north america but for the world, need to make sure that those lanes remain open, that they remain free of any piracy or any sort of thing that might block them. we are going to -- as i said, we've had a persistent presence. we have a carrier homeported in japan, we have marines and air assets in okinawa. i think you'll see in the future -- i know you'll see in the future latour combat ships are the newest ships being deployed to singapore. you'll see other things be like. i don't think you'll see a big change in where our assets are, but there will be some movement the -- and they continue to be a very specific presence in the western pacific. one of the reasons i think that is important is that when we routinely send carrier strike groups or amphibian groups through whatever

there is a speculation that china may deploy aircraft carriers in the south china sea, the focus of territorialputes with some southeast asian countries. china has also reportedly conducted many trials of its stealth fighter jets. the country is devoting a great deal of energy to research and development for military equipment. china is also interested in space development. its civilian technologies in this field could have military applications. five years ago, china was strongly criticized by the u.s. and other countries when it tried to destroy its old satellite by using a ballistic missile. but china has continued with its ambitious space program. observers say china will keep beefing up its military might, but china will be asked to act more responsibly as a major nation by the international community and to disclose more information on its defense. yokomoto there with a report on china. >>> north korea organized a massive rally based on accusations that south korea defamed its new leader, kim jong-un and his late father, kim jong-il. the rally took place in a square in central pyongyang o

and we have a new tropical depression that has formed here in the south china sea.t the moment, it's just sitting over the water but it's slowly moving in towards the coast of vietnam. so we'll see consistent heavy rain here as well as high waves caused by some pretty strong winds coming in from the northeast. now as we head towards the philippines, heavy rain has been targeting central portions for the last couple of days. starting to ease off here. that's certainly good news. it's just going to be moving north. seeing those downpours hitting luzon. tomorrow, looking like a clear day across much of the country. and indeed we'll be feel something warmer winds from the south as well which will be fairly pleasant. all right. as we head into north america you can see the circulation in the cloud there. this is going to be a round of heavy rain at the coast and mountain snow. the olympics you can see about two feet of snow in the next 24 hours. it will be accompanied by strong gusts, too. this is going to weaken off but there will be another round of heavy pripitation r

here over the south china sea we have tropical depression and it is ever so slowly, almost stationary, actually, moving towards southern vietnam in the next 24 hours. it will be taking time to get there, but already gale warnings posted over water and just around the southeastern coast of vietnam. already the waves are high with those strong winds. the heaviest rainfall, this is a very heavy rainmaker, is in the center of the system, but already the outer bands will be affecting much of landmasses in the next couple of days, i should say. a pair of 16 here in seoul and in tokyo not bad at all. beijing, 19 degrees. ulan batur from 12 degrees yesterday to 3 on wednesday. and that's going to drop it to minus 4 on wednesday. heading over to the americas, this very potent system is going to be moving across southern ontario and then in towards the great lakes region. and that's going to drop some freezing rain, chilling rain, and icy overpasses, icy roads are going to be difficult for your winter traveling. associated cold front will be moving across much of the great lakes region, ohio va

in a way, sherman showed greater insight than the new england abolitionists who came to the south carolina sea islands in 1862 to teach the former slaves to read and write and incidentally to organize them as a labor force. of the former slaves, wanted to be left alone to tend their vegetable gardens, the northerners wanted them to pick cotton, to help pay for the war. the sherman was right to an extent about former slaves disinclination to military service was shown in the widespread use of press gangs to round up recruits. it occurred not only in south carolina but in new orleans and along the mississippi further upstream. unfortunately, we don't know how many of the reluctant soldiers were family men or whether their numbers were greater than those of the volunteers, or for that matter how many of the volunteers truly understood what they were getting into. one black regimentwho worked as up for the army after army quarter masters confiscated his two mules and deprived him of his livelihood. then as now, the army was the employer of last resort. what was in it for these black soldiers? free

it's just formed here in the south china sea.t's stationary right now but it's going it be moving very slowly toward southern vietnam and helping to really bring down those heavy rains as well as seeing some strong winds. we have a northeasterly flow which is quite consistent and that's going to be helping to bring high waves at the coast, too, over the next couple days. central parts of the philippines will see clearing. the heavy rain is starting to weaken off a little bit, but it's pushing up toward the north. luzon will be getting downpours. 31 degrees in manila. 24 in hong kong. actually temperatures looking pretty good all the way up to beijing, 19 degrees here. however, it is going to be changing. by friday, beijing back down to about 11 which is just about your seasonal average. we can already see that cold shot of air influencing ulan bator at 3 degrees and then we have the mid teens in seoul and tokyo, so warming up towards the east. as we head toward north america, another new storm rotating over the west is going to b

over the south china sea, this is a developing low pressure system which actually could turn to a tropical depression. if it does, it will be the first tropical depression of this year in eastern asia. it is already directly affecting southern vietnam coastal areas, picking up those winds and also the waves are high. and this heavy, heavy rainfall will be targeting the area in towards the weekend. temperaturewise, we're looking at bangkok, 34 degrees. manila, 29. we're looking at a triplet of 12s in tokyo, seoul and yulan batur. but tomorrow and wednesday we'll see those temperatures down to 3 and on thursday minus 4, so do enjoy the warmth while you can. all right, heading over to the americas now, things are going to be clearing up here in the east. much of the east, i should say. but that's very good news. we have a canadian high that is going to be cresting overhead in the great lakes region. we do have a low pressure system that is a potent one that will be moving in towards the great lakes region and manitoba and ontario bringing freezing rain. also very strong winds will be seen in

forces in a taiwan or south china sea contingency remains a top chinese military priority. investments in naval anti-air and anti-ship capabilities are designed to achieve periodic and local sea and air superiority to include the islands closest to the mainland. once focused on territorial defense, china's air force has developed an offshore strike, missile defense, strategic mobility and early warning and recognizance capability. try china may incorporate that these capabilities in novel ways that present challenges for u.s. forces. last year's first flight of the fifth generation fighter in launch of china's first aircraft carrier underscored the breath and equality of china's military probe i'm however a lack of modern combat experience is but one example that steps remain before china achieves the full potential of its new technologies, platforms and military personnel. regarding cyberthreats, we continue to see daily attempts to gain access to our nation's government and business computer networks including our own secure systems. this thread is large and growing in sc

dispatched the handful of warships that were available, a total of 12 of them, down to blockade the south principal sea ports, ordered home all the vessels then currently overseas on distant station patrol, embarked on a crash program to require new ships, to oversee the acquisition of new vessels wells appoint aid man, george d. morgan, competent, experienced businessman who happened to be wells' brother in law. as you can imagine there was some squawking about this. in congress. principally because morgan took a 2.5% commission for each ship that he purchased and ended up with quite a pile of money. but in the end his efficiency quieted most criticism and morgan ended up buying a totalv. pretty good barbargain. they were converted. several north principal ports. new york, philadelphia, elsewhere. stoon so soon there were 264 ships by end of 1862. rapid, to that moment, unprecedented mobilization of naval resources. and the blockade, no more than a factitious notion in april was on its way to becoming a reality. now as a collateral responsibility, to stopping trade, the union navy also sought to seize

dispatched the handful of warships that were available, a total of 12 of them, down to blockade the south principal sea ports, ordered home all the vessels then currently overseas on distant station patrol, embarked on a crash program to require new ships, to oversee the acquisition of new vessels, wells appoint aid man, george d. morgan, competent, experienced businessman who happened to be wells' brother in law. as you can imagine there was some squawking about this. in congress.in law. as you can imagine there was some squawking about this. in congres-in law. as you can imagine there was some squawking about this. in congress.-law. as you can imagine there was some squawking about this. in congresin congres in congress. principally because morgan took a 2.5% commission for each ship that he purchased and ended up with quite a pile of money. but in the end his efficiency quieted most criticism and morgan ended up buying a total of 89 vessels at a total cost of about $40,000 each. actually, a pretty good bargain. those vessels were then converted quickly into warships and several of the north principa

surveillance mission collided with a chinese fighter jet over the south chinese sea. the chinese pilot was killed, and the chinese government detained 24 american crew members of the spythey made an in china's highen island. unfortunately, after 11 tense days of negotiations and a carefully worded apology from the united states, the prc did release the crew but not before the chinese-american population had endured ugly and racist stereotyping. you should have heard their hatred that came over the airwaves. talk show hosts wanted chinese employees fired from the national laboratories, or expelled from the u.s., or even imprisoned. as japanese-americans were during world war ii. in springfield, illinois, two radio deejays urged the boycott of all chinese-american restaurants, and suggested that all chinese-americans be shipped out of the country, and even telephone people with chinese last names to harass them. even newspaper editors indulged in stereotypes during the spy plane crisis. in april 2001, amy lee yang, a chinese-american college senior was in turning at a p

south. china sea washington's latest sanctions against tehran aimed at other countries and the u.s. compiles a list of nations to be punished for continuing to import iranian oil beijing tops the list along with india and north korea which are being given six months. sharply that trade with the islamic state. those are the headlines or not so you know we put the president under the spotlight for an exclusive interview alexandra defends the execution of two men found guilty of the deadly metro bombings in minsk this despite international criticism please stay with us here. a welcome to the on the. way guest is alexander lukashenko. the leaders of the eurasian economic community have gathered in moscow this week to discuss further integration on the post soviet space one of them was forced alexander the president of. one of the most famous but controversial leaders of the lot of the work today he's here on spotlight to discuss the latest news coming. and some other items please welcome president got. the latest news coming from the other rules caucuses on two major topics the first an

china in the south china sea which is a major. shipping lane and also china has been acting more assertive in that area so i think you're still going to have cayman is just kind of shifting the balls in the air a little bit but you're still juggling the containment policy and when you still have those alliances with japan south korea there's also previously been some shuffling around in south korea but it really doesn't amount to a change in the policy it just if anything it's beefing up the presence there as president obama said that he's going to do in relation to china but the united states just can't afford this anymore and we can't afford a base in the cocoa islands and we need to we have you know a fifteen million or fifteen trillion dollar national debt and some of these overseas beijing should be contract and sort of expanding absolutely and that meeting with president obama and prime minister julia gillard back in november. something or somewhat surprised by these announcements this announcement of a bigger military partn

if you go back to the south sea island bubble in the beginning of the eighteenth century in england and thick of the british newspapers which read very much like the one ed work for now. change some of the letters. the reality is the argument that government has been coopted by big corporate interests, people in the government own shares in this big company, they were bailing out the company, these are the same arguments we have today. some of the push back against megacorporations came from places you wouldn't expect them to come from. this leads to the second myth buster which is history is fact. i will give you a couple examples. some of the people that we are taught about as the architects of the world as we see it, john locke and adam smith and people like that were not exactly just like our modern day -- there was no ronald reagan like ronald reagan we talk about. there was no john kennedy like the john kennedy we talk about. adam smith was against big megacorporations. even though fundamentalist capitalists today follow the book by adam smith. he railed against overconcentration

throughout the day, no formation yet, but we do have that potential cyclone developing in the south china sea. we'll keep you posted. we have plenty of time to watch it for now. back to you. >> ivan, just quickly, some friends of mine are planning on skiing in europe over the easter break. is there any snow left? >> you have to go high, high elevation, and there's still some snow left, but it's going to be melting rather quick. >> going to be a very slushy affair, i suspect. thanks very much for that. >>> you're watching "world business today." we're going to be back in just a moment. >>> from cnn hong kong, i'm andrew stevens. >> and i'm nina del santos at cnn london. welcome back to "world business today." let's see what's going on in the european stock markets. we're about 90 minutes into the european trading session, and we've already flirted with negative and positive territory with these markets, as you can see. it's a little mixed picture with some of these indices back up in the green after spending about a half hour in the red. in particular, the zurich smi fell by quite a bit more t

with the area that david outlined, erin, it's about 1.4 million miles, about the size of the south china seawhen you're planning a manhunt in an area that large with dense foliage and coverage, it's difficult, and that's one of the things u.s. forces are doing, helping the ugandan and local forces operate in that environment for long periods of time so they can have an effective manhunt. >> what do you make of the ugandan government say he's not even in uganda, and government was talking about the fact he could be in the central african republic. could you trust the governments to be quote/unquote good guys, not be protecting someone like this? >> we never really know. that's why it's important to equip the ugandan military to equip them with what they need to make their own analysis. >> i'm curious one thing we have done, ron paul has talked ability the u.s. military and pulling back, we look at how many military sites the u.s. has around the world, about 2,000 of them. this is one example of where we put american troops in a country to do work. how do we decide to go after this warlord ins