u.s. talks about china the u.s. mainstream media and the leadership obama clinton their statements about being back in the word us being involved in an international struggle a battle for influence as clinton has said with china this is all about preserving their great power interest at the expense of the people of the world a lot more than then just the sound bite that you hear at the podium at this summit will have to wait and see to who has the upper hand economically speaking with the issue of the currency china's currency being key on the table as well as the u.s. debt and deficit that was raymond lotta author of american decline is also a contributor to revolution newspaper and a longtime analyst of maoists and host maoist china now today is a very very special day in russia it's been sixty six years since nazi germany was defeated and world war two and russia is marking victory day that's actually what this ribbon that i'm wearing is for now events a commemoration and celebration are taking place across the co

u.s. officials said china has agreed to allow u.s. companies greater access to government contracts and u.s. financial firms will now be allowed to sell mutual funds in china. chinese officials say the u.s. has agreed to relax export controls on certain goods and services. these agreements, at the end of the u.s.-china strategic and economic dialogue in washington. this is part of yesterday's talks which includes a news conference. >> good afternoon, i want to begin by thanking our chinese colleagues and the entire chinese delegation for a productive and comprehensive dialogue between us. along with secretary died near, i also want to thank everyone on the american side, not just those in the state department or treasury but in deed from across our government. the unprecedented level of involvement and the extraordinary work that has taken place since our last meeting in beijing was truly impressive. his strategic and economic dialogue continues to grow broader and deeper. it reflects the complexity and importance of our bilateral rel

china. as a result u.s. debt has ballooned to more than fourteen trillion dollars much of that debt is owned by china it's at a time when many of the country's neighborhoods look like this and urban areas like this still for sun including the mainstream media the military is often the first priority when it comes to spending beijing is rapidly modernizing its strategic nuclear forces and developing space weaponry china is developing ten varieties of ballistic missiles some of which will be able to strike the continental united states but critics say the threat from china is not the people's liberation army the threat from china is its growing economic might like every economist you talk to in washington now adays is saying the new one soon is going to be. the the actual currency of the world maybe by two thousand and twenty so the economic promise of washington should lead and not the pentagon so for. and. on this day top leaders here are offering with this message building mutual trust and respect will help

u.s. and china it comes at a time when the u.s. faces record that and much of that debt is owned by china our case christine for that attended those meetings today the u.s. strategic china china strategic and economic dialogue rather and she shows us how the relationship between the two countries is evolving take a look. they say you should keep your friends close. and your enemies closer and as far as where china fits perceptions continue to evolve at this year's u.s. china strategic economic dialogue an attempt by officials from both the u.s. and china a friendship we each recognize that our ability to group together it's important for the overall health and stability of the economy their friends the people of thailand the united states in the same global village. on the western side we own the east the purpose to open communication on concerns like the debt ceiling in the u.s. and the rate of currency appreciation in china and joint concerns about the environment we both have a great state encouraging find a change and charting a

u.s. talks about china the u.s. ean stream media and the leadership obama clinton their statements about being back in a word us being involved in an international struggle a battle for influence as clinton has said with china this is all about preserving their great power interest at the expense of the people of the world. uncovering and those standards in the high finance next kinds and co-hosts they see have it assessed the price of food and the u.s. federal reserve system as a quick preview of the kaiser reports coming out it's a step. if you're ben bernanke the way to do the job as he conducts his policy first take a large stick and poke out your eye there now you're half blind now look at the statistics in front of you and don't. wages and look at the tips treasury inflation protected securities and anytime they start moving up use taxpayer money to buy a whole bunch in the open market to keep the price artificially low and then go in for a congress with one eye pulled out and say well the temps are not going u

china. and the fourth difference between japan/u.s. surplus and china/u.s. surplus is that the united states did not have an export control vis-a-vis jap. that is to say it is possible for the japanese to buy virtually anything from the united states including, planes, cannons and warships. but this is not possible for china. many of the american product as mentioned by secretary geithner right now, because of security reasons could not be exported to china and and for the chinese people. when we ok at the tde lance issue with the united states, the americans are complaining about our exchange rates and the chinese people are saying that this is because you have your good stuff but you will not sell them to us. so this is the fourth difference and on top of this there is a another difference, the fifth difference. now china is the world's second-largest trading company. actually largest trading country. but even so the u.s. have yet to recognize china as a market economy, not even the united states and europe select the japanese, they have yet to recognize c

and exchanged views on how to view a china-u.s. cooperative partnership based on mutual respect and mutual benefit. we had in-depth and practical exchange of views. our dialog covered many issues including china-u.s. bilateral relations. major issues, internationally and regionally. and we had a good conversation. we agreed that we must act in accordance with the state of the china-u.s. state. and have exchanges at higher levels, have closer dialog on international and regional issues and to further increase our people to people exchange. we should have an outcome list of the strategic track which covered energy, environmental technology, transport forestry and climate change cooperation. i said we had a good conversation, and i did that mean that we agreed on each and every issue. however, after each round of dialogs, we successfully -- successfully expanded our mutual understanding and increased our mutual trust and our cooperation. and this has added to our confidence of further developing our bilateral relations in the nut secon

china. as a result u.s. debt has ballooned to more than fourteen trillion dollars much of that debt is owned by china it's at a time when many of the country's neighborhoods look like this an urban areas like this still first sun including the mainstream media the military is often the first priority when it comes to spending beijing is rapidly modernizing its strategic nuclear forces and developing space weaponry but critics say the threat from china is not the people's liberation army the threat from china is it's growing economic might like every economist you talk to in washington i would say the u. one is going to be. the actual currency of the world maybe by two thousand and twenty so the economic policy of washington should lead and not the president so friend or foe on this day top leaders here are our friends with this message building mutual trust and respect will help us to solve shared problems but that view may change again when it comes time to play different secure more money and more power for

u.s.-china relations. and key parts of that bilateral relationship. let me give you an example. over the last couple of years we've documented numerous cases of, you know, poison and toxic products from china entering the export stream. whether it's poison dog food, toxic toys, poison milk. why does that happen? the fact is it happens because there are severe restrictions on freedom of expression in china. there is severe repression of whistle blowers, state censorship. i think the administration's realizing for key issues there is a important human rights component. they can no longer be separated. they need to speak up because these have visceral impact on the united states and u.s. consumers. >> woodruff: in just the few minutes we have left, robert kapp, how wise is it, how smart is it for the obama administration to push this subject now? >> i think americans understand that in global affairs, the united states with its many partners and adversaries as well needs to walk and chew gum at the same time. there is no way that you can say this issue and this issue alone is going

u.s. and china that friendship the purpose to open communication on concerns like the debt ceiling in the u.s. and the rate of currency appreciation in china and joint concerns about the environment we both have a great state encouraging find a change and charting a clean and secure energy future currently china is the second highest producer in the world of renewable energy technology the us seventeen the overriding theme for day one of the u.s. train a strategic and economic dialogue mutual respect and understanding just because there is competition doesn't mean there can't be cooperation competition is not bad competition is good. this is the reason why i have held the view for so many years and continue to hold the view that a rising china is a positive development it's a far cry from the dialogue of recent times were tough decision makers in the u.s. have been told that an increased power means an increased threat one that will eventually need to be dealt with by war each year the pentagon comes out with this report military and security developments involving the people's republic of

with vision and foresight, the two presidents opened a new page in china/u.s. relations. china/u.s. relations have kept moving forward despite twists and turns. our two countries differ in history, culture, resources, environment and national circumstances, but we are highly interdependent and mutually complimentary. china and the united states are each other's second largest trading partner. the united states is china's second largest export market and china is the fastest growing export market for the united states. together china and the united states account for one-third of the world's gdp and one-fifth of global trade. china/u.s. relationship has far exceeded the bilateral scope and has acquired growing global significance. we are witnessing profound and complex changes in the world economic landscape, changes that are driven by globalization. at present we still face many uncertainties where we are striving to tackle global economic recessions and sustain economic recovery. against such backdrop, economic and social develops in china and the united states face both challenges

host: as far as the amount of debt that china-u.s. bt that the china owns, how much of that shades these talks? guest: well, it's -- i don't think it really has an enormous effect on these talks. you know, china owns that debt. they have -- in an excess of $1 trillion of u.s. government debt. they have few other options in terms of placing that amount of dollars anywhere in the world. really, the euro market, the yen market simply are not deep enough to allow china to do it. so they're kind of stuck with doing it. what they worry about of course is our fiscal discipline. so kind of being stuck in the dollar being stuck in u.s. government obligations, they worry are we going to exercise sufficient discipline so that we are able to repay that debt. we're not going to enter into a period of hyper inflation where they would be paid back in what is in effect devalued dollars. so there was some portion of the conversation that was about that. but it was -- there's not much the chinese can do about it, and our decision with respect to spendin

security council china and the u.s. share significant responsibilities for the regional and global stability. the two countries are conducting the security economic social injured knee and environmental issues. s president obama once said china and the u.s. are now economically inseparable. [speaking chinese] [speaking chinese] [speaking chinese] >> translator: china's great achievements and is impossible without the steady development of the u.s. relations in addressing major international and regional issues. it should be mutually agreed that cooperation and confrontation puts neither on skate. [speaking chinese] [speaking chinese] [speaking chinese] [speaking chinese] >> translator: [inaudible] of joint programs. it is an unprecedented challenge [inaudible] and transnational crime to exist is an important for other against terrorism however the soil of terrorism are not yet removed. >> [speaking chinese] [speaking chinese] [speaking chinese] >> translator: through energy security and public health security continue ce

u.s. and china. one of the goals is to allow the u.s. and china to iron out of some of their political and economic differences. on the headline issue of china's currency, there has been some progress and some unusual results. darren gersh reports. >> reporter: after adjusting for inflation, china's currency is up 10% against the dollar since last summer. that has taken some of the pressure off the trade issue, but today treasury secretary timothy giethner still urged his chinese counterparts to do more. >> in china, building on the remarkable reforms of the last 30 years, the challenge is to lay the foundation for a new growth model driven more by domestic demand with a more flexible exchange rate. >> reporter: u.s. and chinese economic officials are meeting under somewhat unusual economic circumstances. the two biggest economies in the world both have currencies that are falling in value. the chinese yuan has fallen 2% against most trading partners since last summer. >> it's reducing the export competitiveness of other countries. >> rep

u.s.-china mission on trade. the relationship between the united states and china is absolutely vital to get right. we need to avoid falling into the trap of zero-sum competition. we need to forge a relationship based on -- there is still a lot of work to be done. i am not going to speak at length about the long list of issues we have to work on. let me mention advancing human rights, ensuring peace and stability across the taiwan strait, managing trade disputes, protecting the environment and, most importantly, cooperating to help lead the world out of conflicts in areas where our joint leadership can have a huge impact on the course of the events. i want to make two overarching points. first, with its new-found china needs tot, do more than abide by international norms. that is important. we are hoping china will contribute to strengthening the international system that has helped it to prosper. we believe beijing can step up and can shoulder more of the responsibility that comes with its growing power. we welco

i think both china and the u.s. l more confident the strength and the durability of the recovery. and we see an important aspect of what we talked about when we were rebalancing growth is that financial sector reform in china can play a very important role. i just gave one example of how roughly 75% of chinese household savings, very large savings are still in bank deposits that large earlier in - read of return after inflation. if china can over time he is the restrictions on the interest rates the banks can offer depositors that's going to put more money in the chinese consumer's pockets and help promote china's efforts to promote consumption lead the economy. >> is it your fifth question or -- i can't remember. [laughter] lost count halfway through. >> on the important issue you raised to think that it's our position that we want to approach this critical matter. we are from a principled and consistent approach. you will see that in the president's meeting and the secretary's statements and all her meetings we rai

u.s. . germany and japan and china and that's where the i.m.f. needs to be focusing its attention and to do that you need somebody who's not from europe the u.s. china or germany or japan to lead the institution right jeffrey cambridge that's pretty that's a really amazing indictment there from peter in london do you want to react to some of those comments. well yeah i actually think we agree on the bottom line that it's time for what i know of eight excellent candidates for emerging markets and so that's and there who are. but that's what geoffrey and i want is that if something like this agrees that it's not there who's going to be i think we've gotten past that i mean it's the it is it's the ideology that's coming out of the i.m.f. because what we peter said is that these countries are going very sick after a very successful but it's really i mean it's all head to head. let me add to the comment the united states over the last decade followed an irresponsible policies of the budget deficit story the bush administration and the regulation and a

u.s./china dialogue held just in beijing. we have made clear publicly and privately our concern about human rights. we worry about impact on the domestic politics and the politics of china and the region. we see reports of people and public interest people and artists and others that are detained and disappeardisappear. and we know that societies that respect human rights are more prosperous, stable and successful. that certainly has been proven time and time again, but most particularly in the last month. so this dialogue offers a forum for us to have these candid discussions to focus where we will operated effectively. and as my friend, wang qishan knows that china and the united states are like people in the same boat. and we have to row in the same direction to get anywhere. and there is also a wise chinese expression that says, when confronted by mountains, one finds a way through. when blocked by a river, one finds a way to bridge to the other side. we are here to keep building those bridges. and not doing it alone, we a

china/u.s. cooperative partnership based on mutual respect and benefits. dear colleagues, last january the president paid a visit to the united states. it was a historic visit that achieved great success with vision and foresight, the president opened a new page in china/u.s. relations. china/u.s. relations have kept moving forward, despite twists and turns. we are hardly interdependence and mutually interdependent. the united states is china's second-largest export market. china is the largest export market for the united states. together they account for one- third of the world's gdp and one-fifth of global trade. china/u.s. relations have far exceeded the bilateral scope and have acquired growing global significance. we are witnessing profound and complex changes in the world economic landscape, changes that are driven by globalization. at present, we still face many uncertainties well we are thriving to topple the global economic recession and sustained local economic recovery. -- global eco

it opened a new page in the china-u.s. relations. china-u.s. relations have kept moving forward. we are interdependent and mutually complimentary. the net is states is china's second largest import market. china is the fastest-growing export market for the united states. together, china and the united states account for one-third of the world gdp and one-fifth of global trade. china-u.s. relationships have far exceeded and have acquired a growing global significance. we are witnessing profound and complex changes in the world economic landscape. at present, we still face many uncertainties. economic and social development in china and united states faced those common challenges. there are both -- there are clashes and our respective policies. however, we have far more shared interest than differences and competition. both sides of must make better use as a framework for examination of long-term and strategic issues and take a forward steps. dear colleagues, the past and present have proven and the future will prove that nothing can hold back china-u.s. cooperation. we have confide

u.s. and china are people paying lip service to competition from corporations representatives from both winchell's held discussions with america appears on willing to reduce its rights of spending the prince preparation for the worst case scenario. nato was accused of negligence for importantly ignoring distress calls for boats are in the refugees sixty people on board a fault died of thirst and hunger spent two weeks fifty three. when next to a british activist whose involvement in it and the use of unconventional weapons. i'm talking to kate hudson from the campaign for nuclear disarmament as the n.d.p. said from the off that the military intervention in libya was a mistake and that it could in fact result in a major civil war in libya kate thanks for talking to us now do you see your predictions coming true and well unfortunately what we were fearing does seem now to be taking place that it hasn't been some come quick humanitarian swoop that would be over very rapidly and peace and justice would be miraculously introduced unfortunately that hasn't happened and we see now from the initial number

u.s. and china have been paying lip service to competition and cooperation representatives from both the minute truthout discussions but america appears on willing to reduce of massive spending on the funds. they say was accused of negligence for reportedly ignoring distress calls from a boat carrying libyan refugees sixty people on board have thought to have died of thirst and hunger spending two weeks drifting in the mediterranean. next to a british on the activists about nato involvement in libya and the use of on a conventional weapons. i'm talking to kate hudson from the campaign for nuclear disarmament that's the end he said from the off that the military intervention in libya was a mistake and that it could in fact result in a major civil war in libya kate thanks for talking to us now do you see your predictions coming true well unfortunately what we were fearing now to be taking place that it hasn't been some come quick humanitarians who it would be over very rapidly and peace and justice would be miraculously introduced unfortunately that hasn't happened and we see now from the initial

u.s. and their currency in china now do you remember he is pegged to the dollar so every time the u.s. prints money every time ben bernanke the prints money china has to print money who's a currency manipulator china or the u.s. that's the big question here are you going well obviously this is a tale of legs a dog or vice versa you can't really say china is the currency manipulator of their peg into the dollar which is being manipulated but it's the world reserve currency so they say walk if you possibly manipulated because they live in a snow globe of denial they're in a world with a three hundred sixty degrees of fraud they don't see that there is a currency manipulator tim geithner you're the currency manipulator max the central banks around the world i would disagree that if anyone unique when i'm we're in disagreement on that one because china's empty. it was up fifteen point three percent in april alone so they're doing a darn good job printing money and in response to this limit down regulators expanded the range in which gasoline and oil futures control. but again they're they'r

u.s. and china have been paying lip service to competition and corporation representatives from both militaries held discussions there has been willing to use its massive spending on defense. and there too is accused of negligence reportedly ignoring distress calls from the boat with refugees sixty people on board are thought to have died of thirst and hunger spend two weeks in fifteen minutes. when next ulti talks to a british activist about looters involvement in that and the use of unconventional weapons. i'm talking to kate hudson from the campaign for nuclear disarmament c.n.d. said from the author that the military intervention in libya was a mistake and that it could in fact result in a major civil war in libya kate thanks for talking to us now do you see your predictions coming true well unfortunately what we were fearing now to be taking place that it hasn't been some kind of quick humanitarian swoop that would be over very rapidly and peace and justice would be miraculously introduced unfortunately that hasn't happened and we see now from the initial number of countries involved now w

u.s.-china strategic dialogue this evening. it's noent lessen trade tensions. >>> jury selection is set to begin today in the murder trial of casey anthony. the florida mom is accused of killing her 2-year-old daughter cayle rks. >>> the transportation secretary is stit nouns that the federal government will spend fwols improve the rail system. there will be major improvements in the northeast corridor. >>> it looks like breast-feeding is important in the behavior of a child. babies that are breast fed exhibit better behavior at the age of 5. hey rufus. who do we love ? we love our bank. we love our bank. we love our bank. we love our bank. yes, yes. you really love your bank don't you. ally bank customers love our 24/7 customer care that allows you to talk to a real person anytime. ally. do you love your bank ? what makes hershey's s'mores special? hershey's chocolate goodness that brings people together. hershey's makes it a s'more. you make it special. pure hershey's. [ woman ] can't anything help these itchy allergy eyes? [