u.s.-china exercise in the gulf of aden. very telling that that is of course where china has deployed 12 or 13 counter piracy deployments. i'm sorry? but my point very tellingly is far removed from the zones we are discussing here. it does indicate that some level more of a self called in and that some of the pla has bored from their experiences in the counter piracy operations but it's not necessarily so noxious to think about other forms of cooperation with the united states and what is argued late a very, very sensitive ongoing issue. on the blame game, this has been mishandled ale parties. it does seem to me that china's stance has been highly react to come on the ceiling is so you have to air on the side of doing more to demonstrate how serious you are. none of us are party to inner deliberations on this, but i think at some level this is still the belief that we, china that is to say have to be better organized, better prepared to respond, ask questions later, two things now and ask questions later, creating as i said b

u.s.-china exercise in the gulf of aden. very tellingly that's of course what china has not deployed 12 or 13 counter piracy deployments. [inaudible] >> i'm sorry? whatever. my point very kindly, that's far removed him the zones that we are discussing here. but it does indicate at least at some level i think a kind of more of a self-confidence that some of the pla have, perhaps born from their experiences in the counterpiracy operations. that it's not necessarily so noxious or whatever you think about other forms of cooperation with the dreaded. and what is arguably a very, very sensitive, ongoing issue. on the blame game, john, yeah, i think this has been mishandled by all parties. it does seem to me that china stance has been highly reactive, almost feeling as if you have to err on the side of doing more than to demonstrate just how serious you are. none of us are party to the end of the liberation of chinese on this, but i think at some level this instilled the belief that we, that is china tuesday, has to be better organi

u.s. special operations in china, burma, india theater. and you can say, special operations started with dos as experience in china during world war ii. and oss also established some of the intelligence from work, the approach to china, for example, the file data system, there training of the young your experts, and those people after rld war to become the leading authorities of maritime intelligence as well as government policy. so those are very big contributions. also some other lessons and some big blunders as well. >> what is one of the blunders? >> well, one of the things is i will say, oss in trying so hard to establish itself as legitimate, tried to prove to others, always constantly trying to prove to others it's worth the importance. in doing so, sometimes the sacrifice of the original mission. for example, its independence om the british intelligence, true reliance upon the british intelligence. the other thing is, oss success of the

u.s./china relations. this is key to the u.s. economic recovery, and also you have to know that china is the larger holder of u.s. debts. bottom line is whoever wins this election, obama or romney, will have to work with china's new leadership, which takes power later this month. these companies have a direct relationship. it will likely evolve, but it's something both sides have to maintain and nurture, because their economies are intertwined and interdependent. >> that was susumu kojima reporting from washington. >>> asian and european leaders are discussing ways to strengthen economic and political ties during a two-day meeting in laos. among their main concerns is the global economic slowdown triggered by the european credit crisis. the asia/europe meeting brings together leaders and cabinet ministers from 49 countries. >> translator: this year's asia europe meeting is being held amid the global financial crisis. the gathering is drawing hopes that it will help solve the variety of problems faced by asia and europe. >> eu pres

u.s./china relationship. it offers an image of china's rise that is unsettling to countries well beyond the concern rivals -- concerned rivals. what should we expect in president obama's second term? the main variable and relationship this triumph. president obama has had for years to formulate and put in place an approach toward china. it is consistent with that of his predecessors since president nixon. his main features are in welcoming attitude toward china is rise and a willingness to accept a larger role of china internationally, and insistence that the rights be consistent with norms, a deep in the u.s. presence and engagement in the asia-pacific region including organizations like the east asia summit, strengthen alliances and partnerships with china's neighbors, openness to chinese investment in the united states, a board and a protectionist measures. willingness of predecessors to trade remedies. there's little reason to expect dramatic change in this approach. the approach to their relationship with

u.s./china ties. obama has criticized china for unfair trade practices. members of the u.s. congress share his view. they've decided some chinese business activities. human rights and democracy are also a point of difference. obama's secretary of state hillary clinton has been outspoken on these issues. china may disagree but its leaders could be confident a serious standoff with the u.s. is unlikely. the two countries economies are too intertwined. nhk world, beijing. >>> the heads of other nations have joined the leaders of china and japan in offering barack obama congratulations on his re-election. south korean president lee myung-bak is among them. lee sent a written message saying he's very pleased. he said he's sure the u.s. and south korea will continue to develop their alliance. he added the ties linking the nations have gotten stronger and more dynamic than ever over the past four years, especially because of a free trade agreement. a spokesperson for the presidential office said wednesday south korea will keep working closely with obama for peace and stability on th

u.s. it's gotten drowned out amid the focus in washington. but just what is at stake as chinas to hand over power? >> it's enormously important. we've been incredibly focused on the u.s. system for really the last six months or so if not longer. the american election is much louder, much more engaged democratic system that makes an awful lot of noise with an awful lot of press. the transition in china takes place behind closed doors, a lot of guesswork even today from the outside. so we know a lot less. in some respects you you could make the argument that the transition could be less significant, but i don't necessarily think that's so. who leads china over the next five, ten years is going to be just as important or certainly extremely important in the same way that we watch the american election. >> and make a point that is really interesting because at a time when during the campaign we were focused on the nationalist rhetoric coming out of the u.s. campaign in general, you say it's actually china which is more likely to emerge with a more national list tick tone after the

the china of here collapsed america will have a major problem dealing with that, so a u.s. policy is world war ii to keep china.?????? but your reality? because of t? logistical strategic plurality of? this,.??????? your attitude of it wasn't??? pretty? low.????????? then it was americans?? contributing?? to world war i? read over 60% of the materials went to britain, and its commonwealth countries. somewhere around 25% went to th soviet union. during the entire war, less tha 2% wento to china.????? so rhetorically china was very? important. but, in terms of material pport, wasn't very small. and that was ironic. it had a lot to do with the service rivalry of policy, priorities, logistical difficulties, but overall it's very important we come with the chinese and it doesn't work of chinese-made whether it is reduced as i said earlier. as to how many chinese died during world war ii? >> the numbers were varied. the most accept a numb

military deployment of the pacific but i do not believe that one should base relationship between china and the u.simarily or largely on the experience of the cold war, of the military conference to patients. the experience of china has seen threats from neighboring countries. so, it is an understandable expression that hu jintao used today. but, if the relationship were to degenerate into the management of local military situations, the future of their relationship would be very dire and both sides have an obligation to do their utmost to get the relationship on the basis of a dialogue and a dialogue about the future and not of the immediate issues that lead to these conflicts. >> remember myspace fell to a new fancy called facebook. and the world of social media, the newest sensation is tumblr. paul mason went to meet the founder the 26-year-old david karp. >> facebook is how you want others to see you come up twitter is how you see yourself, and tumblr is -- oh, look, a funny cat picture. the 26-year old is the owner of the hottest property of the net. >> i tried to use all the things that were

lot to absorb but i was - actually it was nixon's visit in 1972/73 that opened up in a sense china to the u.s. they saw it as opening china outward to the broader world and it intrigued me and i said this is going to be big and we need more people to know what's going on between our two societies. >> absolutely and as we are - you were here in the first part of the class and of course where we are in beliefs and believers is we're coming to the end of looking at what we call here and we've had a chance to look at them. but, just from your perspective, how close are we in saying tt in confucianism and taoism it cuts to the core of the family? i think susanna raised a question about the priorities but, how so this family relationships? >> family is at the core, family is the principle metaphor for the whole culture. and even in that little take at the very end he said you take it home and cook it for you family, right? so whatever happens the final sort of reference point is the family. that all relationships are based on family relationships; the father/son, the husband/wife, the brother/broth

21st century we have to get together with china to suggest to these countries you're going to have u.s. china and russia on your neck, we'll all crackdown on you. that would be a very different arms patrol. >> eliot: and we have unity with russia and china. paul bracken, also author of "the second nuclear age." thank you for your time tonight. >> thank you. >> eliot: that's "viewpo

u.s. and china when it comes to u.s. business and that's what we urge to continue and we believe would continue. >> steve, when it comes to banks, this is one area in particular where u.s. companies are really looking to make inroads. but they hold less than 2% of the total assets. do you push to bond derivatives or just expand more branches into china? >> well, in terms of the overall trade relationship, what we're really focused on now from an asia perspective is the transpacific partnership. that would lead to a free trade area of asia pacific, we would hope be the framework for it. china is not included in those initial negotiations, but that's where we're focused right now. and the focus are not these at the border issues, but across the border and behind the border trade issues. it's market access, it's licensing, an unlevel playing field when it comes to domestic companies that u.s. companies have to compete with. so that's where we're really focused. we're hoping that can be a framework and then those issues you

u.s. influence in southeast asia and keep china's ambitions in check. nhk world's matthew field reports. >> reporter: obama's visit to myanmar was the first to the country by a sitting u.s. president. people waving american flags lined the streets of yangon to welcome him. the trip was full of symbolism. obama met opposition party leader aung san suu kyi at the home where she spent years under house arrest a. obama praised aung san suu kyi's achievements and her efforts toward democracy. he promised that the u.s. would continue to support myanmar. and he gave a lecture at yangon university, a former stronghold of pro-democracy activists. he used the occasion to pressure the government to continue on the path of reform. >> and we recognize no two nations achieve these rights in exactly the same way, but there is no question that your count will be stronger if it draws on the strength of all of its people. that's what allows nations to succeed. >> why democracy and why we need reconciliation? this is the main important thing. >> i think this is very impres

u.s. and china. there are a lot of people take believe that the issue over the currency has really become overblown. because if you take a look at where the currency was against the u.s. dollar versus wheres today, in other words, pegged at 8.3 versus 6.3 to the u.s. dollar, it's moved by about 30%. and the whole argument that the currency somehow is harmful to the u.s., a lot of people here think is really unfair because the trade deficit is really still a problem. another issue involving the currency, there are quite a few people who say even if you allow the renminbi to appreciate even further, it's knots as though those jobs are going to end up going back to the united states. a lot will know to other developing nations and not have an impact on the u.s./china relationship. so people keep thinking this is more a political football than anything else. >> eunice, for now thanks. >> for more on the topic joining us is an economist with lombard street research. for you, good afternoon. thanks very muc

sentiment in the u.s., china. as well as a possible deficit financing bill here in japan, there's still the key matter of earnings. we're not through yet. we're going to have the megabanks due out this week. that'll also give a picture of financial services. investors want to see how much losses the banks will have to underwrite as well. a bit of a positive morning. back to you. >> thanks, ramin. ramin mellegard at the tokyo stock exchange. >>> well, the people who made japanese money, the operators of the national mint are pitching to overseas governments. officials at the japanese mint osaka office are expecting to receive the order soon for 5 million bangladesh taka coins. they're made of stainless steel and worth about two yen or about three cents. the authority joined five bidders for the job that was opened by the bangladeshi government. japan's advanced minting technology was reportedly a factor. japan's mint has produced foreign commemorative coins in the past this will be the first time since world war ii

u.s. which feels the pressure of a crushing debt with china as its main creditor. e chinese central bank holds u.s. bonds worth more than $1 trillion in. that puts beijing in an unprecedented position of power which cannot use. if they sold these bonds, it would put washington under pressure. it would also harm chinese interests. it would see the value of its own investments tumbled. the fact that the western world 's #one superpower should find itself financially dependent on a communist state is one of the trials and tribulations of history. hopefully, there will be positive endings. >> there's i hope that washington and beijing could put an end to it this and focus more on common ground. >> a renewed labor conflict could be brewing in germany. new figures published look to fuel tensions over wage levels in the european leading economy. >> top managers have seen wages increase at but workers have seen their real wages shrink considerably. >> it must be nice being the boss in this global what economy. you get to tell people what to do and you get paid well. but for

u.s. and china together certainly do not want unnecessary conflict.he danger is that the likelihood of necessary conflict, a real war between the two, real territorial issues that are bringing american allies in greater conflict with china and this fundamental difference in economic system between our corporations and theirs, are driving us towards a much more acrimonious relationship and let's remember one thing obama did say for the first time during this last u.s. foreign policy presidential debate is he called china and adversary. that is new and yes there is a bit of politics there, but it also reflects the fact that it is not our chinese friends anymore, and this is, this is going to be a real challenge. >> rose: i mean the interesting thing though, and i will just touch on this, can we, because there is new leadership and because they know america better than previous leadership and therefore there is less miss perception hopefully, is that a net plus? jim? >> i would say, yes and i think that as richard was saying earlier, just the personality

or one comes to the white house under which one do you think the future relationship between china and the u.s. would improve. china probably prefers the obama administration because it isn't want to be. mitt romney's various statements like making labeling china sea manipulate like getting rid of q.e. free and so on are seen at least as creating a lot of uncertainty you don't you know national finance or markets and the bilateral you cannot be a relationship or professors of junk from your hong kong city university thank you for joining us on r.t. today thank you we will be continuing our extensive coverage here on r.t. as the vote progresses tackling issues you won't be hearing from any mainstream network that's for sure do stay up to date on the elections here on our website r.t. dot com. the six america votes for its next president. who takes the wheel as the u.s. drives into the future. get the news the mainstream misses with our close election coverage the u.s. election up close. and r.t. dot com greece has been brought to a standstill by general strikes on the second day of what's being

think about u.s., china, japan. number one, number two, number three economies, all in asia pacific. zhao says the potential for conflict remains but the flash points have shifted. >> before there were two historically so-called hot spots may bring the two powers to war, one, korea peninsula, and the other, taiwan strait. but there are two other points now, one east china sea, east sea and two, south china sea. >> the professor says chinese leaders will act more aggressively as their confidence grows. chinese officials will select a new leadership after the u.s. presidential vote. zhao says it will be important for new leaders of both countries to work on creating mechanisms to avoid military confrontation. >> i always say that the current, relatively stable circumstances is a result of co-management of beijing and washington. the dispute is east sea or in south china sea may still need the -- some kind of cooperation or even co-management between ey to establish peace and stability in the asia pacific lies in thand

think about -- i mean, u.s., china, japan. number one, number two, number three economies, all in asia pacific. >> reporter: zhao says the potential for conflict in the region remains but that the flash points have shifted. >> before there were two historically so-called hot spots may bring the two powers to war, one, korea peninsula, and the other, taiwan strait. but there are two new flashing points now. one is china sea, east sea, and, two, south china sea. >> reporter: the professor says chinese leaders will act more aggressively as their confidence grows. chinese officials will select a new leadership after the u.s. presidential vote. zhao says it will be important for the new leaders of both countries to work on creating mechanisms to avoid military confrontation. >> korea peninsula, taiwan strait, i always they that the current, relatively stable circumstances is a result of co-management of beijing and washington. the dispute in east sea or in south china sea may still need the -- some kind of cooperation or even co-ma

u.s.-china dialogue on latin america. but the u.s.s issues on latin america issues with south korea and with japan and increasingly they're smart base for discussion of asia and u.s. toxic latin american nations. but when considering this idea of a pacific century, pacific strategy or u.s.-china latin america relationship, there's a couple questions that come to mind. the first is whether the obama administration will continue this foreign policy towards the pacific and is my sense that lisa general consent enthusiast, the administration will continue to prioritize the data focused policies. the second is the extent to which latin america as a region really is factored in to the united states focus on the pacific. some countries in the region are certainly benefited from the trade arrangements that are tension, but what about the rest of the region? and never really seen much in the way of strategic integration and the western hemisphere in an effort to more fully and each asia? i think it is important to note that latin american coun

u.s. with china. we will hear from the u.s. ambassador to china. our live coverage begins tomorrow at 9:15 on c-span2. >> the mindset of the world, was into the mid 1990's that wire line access would -- with stuff on poles or in the ground was the key to understanding telecommunications. the intriguing part of the wireless story is how very few people inside the industry - back- that is why the report came out the way it did. it must not just the fcc who did not understand the potential of the wireless. it was the entire industry. except for a few visionaries who were regarded as kooks. turned out to be the case was the hope that some people had that you could have a robustly competitive fixed line access industry, where a half dozen companies are offering telephone service over luetkemeyer. -- over wire. that vision was mistaken. >> 30 years later, was a good idea to crank up at&t. monday night at 8:00 eastern on c-span2. >> now british prime minister david cameron discusses the uk's economic and foreign policy. this will be his third time speakin

u.s.-china some dialogue on latin america. the u.s.discusses issues on latin-american issues with south korea and japan. increasingly, there's more space for discussion of asia in u.s. talks with latin-american nations. but when considering this idea of a pacific strategy or u.s.- china-latin america apart trying diller relationship, there are a couple of questions that come to mind. the first is whether the obama administration will continue this foreign-policy pivot toward the pacific. it is my sense the general consensus is, yes, the administration will continue to prioritize and state -- the focus policies. the second is the extent which latin america as a region is factoring into the u.s. focus on the pacific. some countries in the region are certainly benefiting from the trade arrangements that i have mentioned, but what about the rest of the region? are we releasing much in the wake of strategic integration in the western hemisphere in an effort to were fully engaged asia? i think it is important to note that latin american coun

u.s. and china. and so in one areas do you see mil-to-mil relations on important, and in what places -- >> and i think we'll use both of these as an opportunity for all of our guests to make their final comments. so on state's quadrennial review and mi l/mil. >> thank you. i think the quadrennial review is helpful in terms of how to recognize some of the challenges that we face not just in asia, but globally. i think it was a good review. the key to the state d., unfortunately, is going to be resources going forward. secretary clinton's been an absolute heavyweight, but even in that environment it's opinion hard to convince others of the need to sustain necessary levels of funding fur diplomacy -- for diplomacy. what we really have is a government with one institution or a collection of institutions that are basically on steroids, our military and national security, and the rest of our government which is, essentially, on life support. and that's a very hard thing to sustain. and so one of the things

u.s./china relationship. >> host: well, it was in 1982 that judge harold green issued a decision which led to the breakup of the at&t corporation, and that's our topic this week on "the communicators," the impact of that decision 30 years later on telecommunications. joining us in a round table discussion is professor roger noll of stanford, as well as professor jerry hausman of mit. both of these gentlemen were involved at various levels in the breakup or the decision to break up at&t. joining us here in our washington studio is paul barbagallo of bloomberg. professor noll, first of all, what was your role or activity during the breakup of at&t, and what led to that decision? >> guest: well, the roots of the antitrust case were in a presidential task force that was formed during the johnson administration in the late 1960s called the telecommunications policy task force. it had concluded that the telecommunications industry, at least the part of it that was in the federal jurisdiction, could be competitive and made recommendations both to the -- mainly to the federal communications commis

u.s.-china sub dialog on latin america, but the u.s. also discusses issues on latin american issues with south korea and with japan and increasingly there is my space for discussion of asia and u.s. toxic latin american nations. considering this idea of a specific strategy for u.s.-china latin america triangular relationship, there is a couple of questions that come to mind. the first is whether the obama administration will continue to pay that tours the pacific and it's my sense that the general consensus is the administration will continue to prioritize focus policies. the second is the extent to which latin america is the region really start turning to the united states focus. some countries in the region are renovating from the trade arrangements i've mentioned. but what about the rest of the region? are we really see much in the way of strategic creation in the western western hemisphere and effort to more fully engage asia? i think it is important to note that latin american countries certainly are waiting for the united states t

that may create opportunity for western interests seeking china's consumers. "for u.s. companies, there will be more inexpensive labor, but there may also be opportunities to build infrastructure west where labor costs are cheaper mid-country than in the west." the imbalance of trade, accusations of an undervalued currency and protectionism are still challenges, but observers think conditions could improve within five years. bp will pay a record fine of $4.5 billion for the massive spill in the gulf. the oil giant is also pleading guilty to criminal charges in relation to the deaths of 11 workers and for lying to congress. the disaster happened in 2010 and is considered the worst offshore oil spill in u.s. history. the chairman of bp issued a statement saying: "we believe this resolution is in the best interest of bp and its shareholders." a seperate $7.8 billion settlement between bp and 100,000 businesses and other is under consideration in new orleans. trouble is cooking at hostess brands. in a drastic measure, the company gave its striking employees an ultimatum, sa

u.s.-china relationship has elements of both cooperation and competition. our consistent policy has been to seek to balance these elements in a way that increases the quantity and quality of our relationship with china. at the same time, we seek to manage competition in a healthy, not destructive manner and encourage beijing to refine its national interests and take responsibility for helping the international community address global problems. important results advance u.s. national interests. we have been clear that as china takes the seat of a growing number of international tables, it needs to assume commensurate responsibility. one of our policy goals, therefore, is to work with china to strengthen institutions and enhance the ability of these institutions to address regional and global challenges. getting the relationship with china right is a long-term effort. we will continue to make this a priority in president obama's second term and as new leadership takes the range in beijing. hu jintao had 13 face-to-face meetings when president obama came into

china today. and there's a lot of discussion in the u.s. about - we believe and value religious freedom. there is a kind of renaissance of religious life in china. the combination of both indigenous religious like buddhism taoism are of our greater interest in a context where certainly marxism doesn't mean very much to anybody any more. and there is a growth of christianity in china. a lot of indigenous home churches are growing up and there's a complicated relationships about, sort of, the catholic church and rome and recognizing. see, china is emerging from a kind of period of humiliation from having been dominated by colonial powers of the west. and many times they perceived religion to have been part of the bible and the canon came up the river on the gun boat. and they said, to reject the foreigner and give us our own place, then they associated religion in that kind of act of domination. so, i think that though over time, there's what they call, the three self movement where as christianity in china is quite alright as long as it's self financing, self instructing and is self govern

china. well i think one issue i would take it you know one aspect i take issue with is the idea that the u.s. is unified in its view on china i think there are very deep conflicting views who course we just went through electoral process united states in which both parties were competing to see who could stand up to china but really the issues sitting down around the trade table and dealing with this enormous economic imbalance that way the trade imbalance and debt and there's a great deal of anxiety there's a great deal of. uncertainty on how to really tackle some of these deep trade problems without upsetting the balance that with the strategic balance that we've achieved in the pacific so there does not seem to be any sort of clear pinion on which direction to take now and china they just had a selector roll process not an electoral process in which they picked their new seven leaders and clearly for them domestic issues keeping that country together keeping it on track keeping are growing at a pace that will solve many of its domestic challenges i take. my colleague susan shirks descript

china. given the economic problems in the u.s. and europe, china would be interested to promote more free trade within this economic bloc because china can out source at lower value for example in vietnam, cambodia, etcetera, so china can move up the chain by adding values to these products and then sell these products to richer neighbors such as japan and south korea. >> many chinese people are staying away from japan because of a bilateral territorial dispute. the number of chinese visitors plunged in october. the japan national tourism organization estimates that chinese visitors, both tourists and business people, totaled about 71,000 last month. that's down 33% from the same month two years ago before the march disaster last year. japan tourism agency commissioner said the situation remains tough. >> translator: unfortunately, there is no sign at the moment that the situation will get better and that chinese visitors will increase. >> the government agency set a target of getting 9 million foreign tourists to japan this year,

u.s. could happen here in china?> it's going to take time, for sure. >> reporter: but this type of conversation couldn't have happened a generation ago. and that's what these young people call progress. bill whitaker, cbs news, beijing. >> that is the "cbs evening news." i'm jeff glor. good night. surrounded by picket lines tonight. why workers at one major chain have walked offe job -- and how shoppers are reacting. >>> dozens of grocery stores surrounded by picket lines. why workers walked off of the job and how shoppers are reacting. >>> the people are responsive and generous. >> coming to the aid of people in need in the northeast. the extraordinary effort by two men from the bay area. >>> record warmth is heading our way. the days you should expect it. eyewitness news is up next. ,,

u.s. ambassador to china and jon huntsman. we will show as much as we can until our live event at 8:30 eastern. [applause] >> thank you for that very kind introduction. i have a great honor of being a distinguished fellow here at brookings but i can tell with justice brier and with these distinguished legal experts appear there's nothing distinguished about me at all. today i come pretty much as a regular fellow as opposed to any kind of distinguished fellow. what we have ahead is a great presentation by some people you will find interesting, about development of the rule of law in china. i wanted to offer a few introductory comments on the china relationship in general. may i first thank john thornton for your vision and support for the center and parking than the leadership you provide. and an extraordinary scholar, and every utterance and every monogram you put out is red and scrutinized by everybody. i just know somebody on the chinese side who write about candidates who run for the presidency. i would like to find that pr

china is one of the biggest markets outside the u.s. in return mcdonald's hires thousands chinese. hina is become abouting a major destination for american goods. but with the global economy struggling, tensions between the two major trading partners have been rising over everything from the u.s.'s growing security presence in the region to china's currency and trade. >> i'm a little pessimistic because in the kind of world we live in where there's a struggle for global demand, that struggle will show up in the trade area. >> reporter: rhetoric about china flared on on the campaign trail with barack obama promising to stand up to china as he heads into his second term. >> i set up a trade task force to go after cheaters. that's why we brought more cases than the previous administration in two terms. >> reporter: cases for example over auto parts and solar panels. on the sidelines of the congress, china's commerce minister lashed out against washington's decision to slap tariffs on panels warning the mauve could backfire it for the u.s. >> someone asked me are you interestering a tra

nuclear missiles on the submarine that's according to a u.s. china review commission.mile range. the vatican city. pope will start twitter. he will start tweets before the end of the year. he is going to tweet from the vatican account last year. >>> as the deadline looms for the fiscal cliff the budget office issuing a frightening prediction on how high unemployment would go if nothing gets done. >> diane macedo has the numbers for us. >> good morning patti ann. if it goes below 13,000 in the three months fiscal cliff tax increases and spending cuts go into effect at the start of the year. it will send the economy back into recession and cause the unemployment rate to hit 9.1 percent by next fall. on the upside they expect the changes to cut the federal deficit by 503 billion by next september. but the economy will shrink by .5 percent next year. this comes as president obama and congress look for ways to avoid the fiscal cliff or cushion the blow. the new study estimates extending the busheir raw tax cuts which carry heavy weight politically could bost 330 billion by

u.s. could happen here in china? >> it's going to take time for sure. >> reporter: but this type of conversation couldn't have happened a generation ago, and that these young people call progress. bill whittaker, cbs news, beijing. >> and coming up after your local news on cbs this morning live reports from the campaign trail on the eve of the presidential election. we'll hear from republican ohio governor john kasich. >>> plus an update on the recovery from hurricane sandy and a report on a forecast about a storm that's about to hit the east coast later this week. that will do it for the morning news this morning. i appreciate you watching. i'm terrell brown in new york. take care, everybody. have a great day. >> your realtime captioner: linda marie macdonald >> good morning, everyone. i hope you're ready for monday because here it is! boy, it came quick, november 5. >> hi, everybody. i'm frank mallicoat. >> whether we like it or not, right? >> it always rolls around after sunday. >> no kidding. i'm michelle griego.