the world trade organization has done a hell of a good job in expanding the world trade globally. so many countries are members of the world trade organization that they expanded their exports and imports. if you have one major economy like the u.s. contracting to that degree, then of course it affects everyone. >> tom: is it the impact, to narrow it down a little bit, is it the impact that it has potentially on u.s. consumption? in other words, higher taxes or higher tax revenues coming from certain income levels mean u.s. consumers don't spend as much? is that the threat. >> the main threat is unemployment because despite the fact that bernanke had been pumping money through the system. >> the chairman of the federal reserve. >> if you're going over the fiscal cliff and the numbers are right minus 4% economic situation means much higher unemployment. it means less consumption. so that spreads throughout the whole society. >> tom: part of the tax debate goes right to the heart of investors. capital gains and dividends. if dividend taxes are increased, what would that mean for u.s.

madam speaker, after more than 18 years of negotiations, russia joined the world trade organization this past august. w.t.o. membership will require russia for the first time to play by the same rules of trade as the united states and virtually every other nation in the world. this is a significant development and it's critical that congress approve permanent normal trade relations with russia so that u.s. companies can benefit from these reforms. russia pntr is also a jobs bill. the president's export council estimate that u.s. goods in exports to russia will double or triple once russia joins w.t.o. that means more jobs and that's exactly what our economy needs right now. a reminder, last year the fastest growing part of the american economy was exports, which grew by almost 6%. let me conclude by expressing my support for important provisions in pntr provisions that has -- when russian took over the assets, the investors, including 20,000 individual american investors, many from my home state of massachusetts, received nothing. . it requires the pntr and state department to provide an

is actively as we speak destroying america at least the american middle class and as the world trade organization and the trans national corporations that make it up since those transnationals also own most of our media this is not a topic you'll hear about on network or cable news but so-called international free trade by the deputy has radically and rapidly promoted the destruction of the american middle class but billionaires like the coax in the john birch society their father created they would much rather we all be afraid of the united nations it after all has very little power and occasionally even speaks out about the destruction of economies around the world by corporate power the latest paranoia being pushed by the coax john birch society and its brother in the republican party is a project of the united nations division for sustainable development called agenda twenty one which came out of the un's conference on sustainable development in rio de janeiro brazil this past june agenda twenty one calls for member nations to engage in a conversation about how to reduce poverty worldwide and

simply put, after more than 18 years of negotiations, russia joined the world trade organization in august. that membership will require russia for the first time to play by the same rules of trade as the united states and virtually every other nation in the world. but under w.t.o. rules, the united states cannot take advantage of -- take advantage of russia's w.t.o. membership unless and until congress grants russia permanent normal trade relations, replacing the 1974 special bilateral agreement with russia, known as the jackson-vanik amendment. the united states is not required to change any u.s. law as a result of russia's w.t.o. membership other than this change to the 1974 trade law. this is in contrast to bilateral free trade agreements where the united states is required to provide duty-free treatment. if that were all there was to h.r. 6156, it would pass or fail along familiar lines of trade-related legislation. but mr. speaker, h.r. 6156 will become known as a landmark piece of trade legislation, not because it grants pmtr for russia and muldova, but it includes title 4, the serg

trading higher about a quarter percent. chinese officials are open to second front in their solar power world with the european union. they filed a complaint with the world trade organization. china's commercial ministry says their unfairly supporting solar power equipment makers. it has serious consequences for china's solar related exports. the eu ran an investigation into september. a spokesperson release add short statement acknowledging the chinese action. >>> business leaders are looking for any competitive edge they can get in this climate. some in japan are finding it's not enough to rely on employees who are technically talented. they say identifying and keeping people who get along with others are just as important. >> reporter: workers at this call center sell a variety of produc products. this name tag was used to point out areas that need improvement. each tag can identify other tags. when one worker interacts with another a record is kept who spoke to whom when and for how long. this data represents a weeks worth of conversation logged by a group of employees. people who interact often with others appear closer to the center. the red mark denotes a team leade

case to international bodies like the world trade organization.hard nixon to find the modern u.s. relationship as a time when it was still largely important to the economy. that might have changed, the perception of the militia is too important to fail remains. -- of the relationship as too important to failed remains. >> you had the president of an up the relationship in 1972. every president, democrat or publican sense has continued to advance the relationship between the u.s. and china. we have never gone backward, we have gone forward. >> so, what to expect? a careful handling of the delicate relationship for sure. don't be surprised by 2016, america is even more indebted to china, a significant trade issues are unresolved and the political ads are still running. >> earlier in the week, i spoke to a nobel peace prize winner and the national security adviser and former secretary of state, henry kissinger, about china and the u.s.'s relationship. i understand the you have met xi jinping. what did you meet -- you make of him? we have heard that h

they filed a complaint with the world trade organization over european subsidies to the industry. chinese commerce industry says members of the nations are unfairly supporting solar equipment makers. they say it's anti-competitive towards imports and have serious consequences. the eu ran an investigation in september into the suspected dumping of chinese made solar panels. they see the complaint as a counter attack. a eu spokesperson issued a short statement. that is all for me for now. i'll leave you with how the stocks are performing this tuesday morning. >>> one last day and one last push. u.s. president barack obama and republican challenger mitt romney are making their final pitches before americans head to the polls. obama visited three swing states. he told a crowd in wisconsin that romney would resurrect the republican policies of four years ago and preserve tax cuts for the wealthy. >> it's a choice between returning to the top-down policies that crashed our economy or a future that's built on providing opportunity to everybody and growing a strong middle class. >> romney

particular trade issues where china has been doing things like dumping, obama will go to the world trade organization to stop it. however, the big problem there is the territorial disputes that china has with japan and other neighbors which are having economic spill-overs. i think the obama administration will do its best to both protect countries against decline of chinese military action, but also, to see if it can mediate or -- not medie, help resolve some of these territorial disputes. it will not directly mediate. us will continue to push for the transpacific partnership, whether japan joins or not. it will not have a separate agreement with japan. the u.s. has gotten very frustrated with tokyo. it no longer believes the noda administration is capable of joining. while prime minister abe may want to join for security reasons there's little faith in washington he can do anything until after the upper house election 2013, and perhaps not even then. so the u.s. will go ahead with tpp, without japan, let japan join later. the u.s. would like japan in it but japan has got to live up to the standards.

. >> was the longest-running dispute in the history of the world trade organization, but what came toe known as the banana war has been declared over. the head of the wto has declared the dispute resolved. >> the original complaint was started by toaster -- back in 1991 in the conflict took over two decades to sort out -- the complaint was started by costa rica. >> the vast majority of bananas are produced on a massive scale by u.s. multinational companies. the fruit is a vital export for countries like coaster rica, colombia, ecuador. only 12% of the bananas consumer actually grown there. 18% come from africa, the caribbean, and the pacific. on tall now they have received preferential treatment with prices above global markets read. 70% come from central and south america. that is now changing. the import tariff is to be reduced by 300 per ton over the next five years likely to mean lower prices for consumers. >> 11,000 syrians have fled their country in just the past 24 hours. >> the united nations says it is one of the largest exodus is seen in the recent times and it is adding pre

the regs underlip question aside and so were russia betrayed bellerose by nature in the world trade organization because schenker said he considers the w.t. all mainly a political body russia is facing the challenge of having to reconcile its doug lute you are gay sions of those it has as a member of the customs union with belarus and kazakhstan nizer which is a double it your member but both enjoy a free trade area with russia and common costumes rules as extern has begun its double duty or accession talks for valorous getting into the club is going to be a much harder thing to do. after saying that russia has betrayed by journey of example here at the present he said he wants is country. and he said the e.u. the european union and the us i helped bring the assertion of those into the so what does russia do to solve this question is moscow ready to help belarus become a member of the w.t. oh absolutely we have for years experience of accession. so you know as we have this experience. well that's about as it's enough as well so we have. problems with checks in country may face a vendor said how

china, for its part, has filed a similar complaint against the eu with the world trade organization on tuesday. the country is making a similar accusation about unfair subsidies for eu products. >>> now let's take a look at the markets. european share prices are trading on the back of a grim economic forecast for the eurozone. here's a look at the london ftse index, currently up by 0.25%. frankfurt's dax index also gaining by 0.5%, and the cac 40 in paris gaining 0.4%. earlier, asian stock prices were mostly lower on thursday following an overnight tumble in the u.s. sentiment was weighed down heavily as investors anticipate a fiscal cliff in the u.s. tokyo's nikkei average ended 1.5% lower, extending losses to four days. south korea's kospi lost 1.1%. hong kong shares were down 2.4%. looking at currencies, the yen is keeping a firm tone against the dollar and euro. traders are buying safer currencies like the yen due to a cautious outlook for the global economy. the dollar/yen right now 79.81 po 85. the dollar is also lower against the yen, currently 101.75 to 75. many market players

the party china has been a real economic success story we've seen it in membership to the world trade organization it's now a very sort of prominent member of that particular organization we've seen its g.d.p. quadruple in the last ten years and is now the second largest economy in the world set to become the world's largest to overtake the u.s. by twenty twenty. makes up ten to twenty percent of overall global economic output is responsible for thirty to forty percent of overall global economic growth. the big question on everybody's lips now is how the new leadership will affect china's relations with its political and economic rival the us and donald lewis a research fellow at stanford law school says the next decade will see a nice to a shift in economic. what is currently occurring between the united states china and indeed the european union is a process of rebalancing in which the chinese economy is readjusted away from its very strong export orientation over the last two decades or so towards one that is more focused on growing domestic consumption and indeed moving somewhat away from manu

the party china has been a real economic success story we've seen it in membership to the world trade organization it's now a very sort of prominent member of that particular organization we've seen its g.d.p. quadruple in the last ten years and is now the second largest economy in the world set to become the world's largest overtake the u.s. by twenty twenty. makes up ten to twenty percent of overall global economic output it's responsible for thirty to forty percent of overall global economic growth. and the big question on everybody's lips now is how the new leadership will affect china's relations with its top rival the us and financial expert francis lui who is based in hong kong believes that america will no longer get everything its own way as china strength militarily. leadership sure. you believe in continuity above everything else so. what do. you to economically charnel do do is to continue to string for. three to richer. can achieve parity with america. is there. i don't think america can throw its weight around the world with out a pole like what it is now you can't you can't do anyth

years china has been a real economic success story we've seen it gain membership to the world trade organization it's now a very sort of prominent member of that particular organization we've seen its g.d.p. quadruple in the last ten years however there are some problems with that economic success story we have seen enormous environmental damage caused by that runaway growth and we've also seen a huge gap opening up between rich and poor china has a million u.s. dollar millionaires but also one hundred fifty million people here living on less than a dollar a day and that is an issue that the incoming government knows that it needs to tackle. financial expert francis lund who's based in hong kong believes that with chinese economic and military rise it's the u.s. that will suffer. new leadership showed china a very you believe key and continuity above everything else so. what this means to continue to economically china we would do is to continue to strengthen its military to be serene to richard paul and china can can achieve parity with america and that is their keys and i don't think america c

under bill clinton when he signed the general agreement on tariffs and trades created the world trade organization signed nafta it all opened up the game board for these transnational corporations to feast on even more industries both in the united states and abroad . out of this the few strong survive and have norman's power to fix prices for consumers the inventors of monopoly were right about what happens when one person ends up owning all the railroads or all the utilities or all the apartment buildings prices go up and to secure even more profits these companies begin extract in wealth from their own workers cutting their salaries and their benefits and like broke monopoly players real world consumers can't afford to pay their mortgages with gas in their car or buy groceries in the game world the corporate masters win but in the real world they eventually lose like the rest of us corporate masters seem to have forgotten they depend on working people for their own survival and now today things are getting really bad this corporatocracy made up of just over just just over one hundred transactio

stay silent about the actual threat to our nation's sovereignty which takes the form of the world trade organization which has been forced free trade agreements through international courts that have overturned laws asked by our elected congress and signed by our elected president for example laws banning the importation of the united states of poised of poisonous additives to gasoline or products made by child labor or tuna caught at the expense of dolphins all of these laws american laws have been overturned by the one world government made up mostly of big transnational corporations that is the deputy oh yet not a peep from that same wealthy elite who are all freaked out about and warning us about agenda twenty one. why well because there's a lot of money to be made in so-called free trade and not so much money to be made in promoting sustainable living same is true why glenn beck isn't writing a book about the sixty seven trillion dollar global shadow banking system which is extremely dangerous to our sovereign economy yet it's making billions of dollars for the banks years point is the latest s

after eighteen years russia eventually joined the world trade organization russia's chief negotiator maxime it back up spent twelve years of his life continually clyne between geneva and moscow to get the work done that god had to patiently see tom from isis between russia's interests and those of the other one hundred and fifty member countries eventually he made it now when the page has been turned the back of says it's not the end of the story russia has made great efforts getting into w t o and now it has to work even harder than. welcome to the show hi thank you very much for being with us there well first of all i want to ask you the question of the show without question what has changed since russia became a full fledged. member you succeeded you'd done your job so. anything anything different you know nothing nothing so i'm right nothing has changed. changed i'm not expecting any changes in the run for. it isn't just those terms with it.

reduction treaty obama is also knowledge of bursley support of russia's accession into the world trade organization but on the other hand the key stumbling blocks in the relations are still there like washington's plans for the anti missile defense system in europe that's a major irritation factor for the kremlin there's also the so-called money skill list of russian officials who are banned from entering the united states and of course the deadlock at the u.n. security council over syria so all of that has led many analysts to go west and how successful that this reset relations really has been in fact many analysts say that obama's already done everything he could when it comes to russia and the republicans simply won't let him do too much more but i guess it's really a question of what sort of heritage mr obama would like to leave after himself since this is going to be his second and final term in office. here sororities you got a piece going to be arching out for more details on that thank you for that. but i will have more live reports and malices over the next few hours from the middle east

years china has been a real economic success story we've seen it again membership to the world trade organization is now a very sort of prominent member of a particular organization we've seen its g.d.p. quadruple in the last ten years however there are also problems with that economic success story we have seen enormous environmental damage caused by that runaway growth and we've also seen a huge gap opening up between rich and poor china has a million the u.s. dollar millionaires but also one hundred fifty million people here living on less than a dollar a day and that is an issue that the incoming government knows that it needs to tackle and just as that capital. would be so much brighter if you. from funds to the question. start on t.v. dot com. browsers. maybe sit in these a nanny has take care of my daddy. a lot of cases. there's a famous reuse benson played his. does my money ransom business. wealthy british soil it's time to rise. market why not. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines

but i will argue the permanent normal trade relations and china's access to the world trade organization has -- accession to the world trade organization has been beneficial. why? because if one looks at the great leap forward in china, there were tens of millions of people who were killed, during the cultural revolution well over a million people were starved to death. so you look at the great leap forward, you look at the cultural revolution in china and you look today at the horrendous human rights violations that exist in china and my goal is still to see us move towards political pluralism, the development of democratic institutions, a greater sense of the rule of law, but there are a few thousand political prisoners in china. it's horrible. it's not acceptable. but, mr. speaker, i argue that that is progress. and it was 10 years ago that i was very privileged to work with president clinton in seeing china's accession to the world trade organization and permanent normal trade relations established. we were able to do that right here in a bipartisan way and things are better than the

s via the european union in the world trade organization the collapse of greece and the privatization of its commons will be globalism is first serious take down. but unsatisfied the corporate masters of the universe but also turn their sights on resource rich and cash strapped nations including portugal ireland and spain and again we here in the united states are saying nothing spain now has the highest unemployment rate in the euro zone topping twenty five percent and they like the rest of the nations hit with austerity are being dragged down that road to collapse even though it's paved with civil unrest economic despair and radical politics you'd think the world would have learned the lesson of the treaty of or saw if you don't know what i'm talking about look it up in the face of all this the e.u. has been silent to the e.u. was created as a bulwark against fascism and to strengthen democracy prosperity and peace across that continent fact the e.u. just recently want to nobel peace prize for their efforts in that direction unfortunately though now their corporate masters are threa

also, they have been violating the world trade organization obligations. blatantly.eign business has not had a good environment that it did a decade ago. david: you work in china. do you think it's more difficult to work there now as a foreigner than it used to be? >> they have been much more restrictive, which is very important. they have been making it more difficult. this is not a good sign. david: can we look for opportunity and turn it around a little bit? is there any opportunity in this >> i think the mcdonald's and kfc restaurants, i think these are the ones that we should look for. david: why would they be favorable to companies like kfc? >> they are not trying to promote that, but they have gone market acceptance. david: so there would be an uprising against the government more so than there is now as they tried to keep what they are beginning to enjoy? >> those are the ones with the best opportunities. i'm not saying that their great opportunities, but the ones with the best opportunities among the foreigners. the ones that we will have the real problem wi

liz: joining the world trade organization would that 11% to russia's gdp. what are the new opportunities? what are the new industries you feel russia could come up with other than minerals and energy which a lot of it is run -- are you considered an oligarchic? all the oligarchs -- >> russia traditionally has a high level education of people, quite advanced in high tech. if you look at the military side or space, russia can provide more for the world markets in this area. there's particular focus on this industry and government investing money, we hope things will change. liz: the space business, our fiscal cliff, half of russia's income comes from what happens in europe which is weak but we are facing a fiscal cliff. is there a word for fiscal cliff in russia? >> not necessarily be very accurate connotation. liz: what is it? [speaking russian] liz: we put it in cyrillic for you. the u.s. falling off a cliff. i don't mean to laugh because i don't believe it is going to happen but will u.s.'s instability affect the business? now that you have it in new york

the world trade organization the agreement. monopolies 1990's, operated communication networks in most companies -- countries around world. generally, the government owns the monopolies. it was before the internet and mobile command occasions took off. it is not a coincidence that the end of that world coincided with the takeoff of mobile and internet. back in the 1990's, leaders at the white house and the state department, the commerce department, and the fcc, developed what many thought at the time was a crazy and certainly hope was idea. -- hopeless idea. what if we pushed to privatize communications companies and markets from a world? what if we moved the world toward open market access, robust competition will of law? it was not easy. it took years. i watched as my boss worked tirelessly with vice president gore. the result, 69 nations representing over 90% of the world palmate -- telecommunications revenues signed an agreement in early 1997 committing to open, private markets and competition in rule of law. the agreement a

we need to work with the world trade organization to put them on a level playing field. >> do you think free-trade pacts would be beneficial to road island manufacturers to attack not necessarily. we have nafta 20 years ago. that has not worked out the way we wanted to. i do not think nafta on steroids will help. instead of starting trade wars with china or instead of going to this idea of labeling them a currency manipulator, i am more in favor of going back to a comprehensive tax policy that tells us -- you will get rewarded for bringing jobs back here. you'll get penalized for sending jobs overseas or keeping them overseas and keeping their money overseas. i do not see free trade pacts necessarily doing the trick. we need to take care of domestic policy. the rest will follow. >> we need to have free and fair trade. we need to have trade policies that protect american jobs and workers that have environmental provisions, labor provisions that make sure it is an even playing field. we had american athletes competing in the olympics. wearing uniforms made in china. those uniforms could h

world trade organization agreement on basic telecommunications. back in the 1990s, monopolies operated communication networks in most countries around the world, generally government owned or controlled monopolies. that was the world most of us grew up in. it was before the internet and mobile communications took off, and it's not a coincidence at the end of that world coincided with a take off of mobile and the internet. in any event back then in the '90s, leaders at the white house, at the state department, the u.s. trade rep, commerce department, and yes the fcc, developed what many thought at the time was a crazy and certainly hopeless idea. what if, they asked, what if we pushed to privatize communications, companies and markets around the world, what if we moved the world toward open market access, robust competition? and it was an easy. it took years. i watched as my then boss, fcc chairman we found worked tirelessly pashtun reed hundt worked hardest with vice president gore, and the result, 69 nations representing over 90% of the world of m

reports on the compliance of the russian federation with its obligations as a member of the world trade organization, and for other purposes. the speaker pro tempore: the question is on ordering the previous question. members will record their votes by electronic device. pursuant to clause 8 and clause 9 of rule 20, this 15-minute vote on ordering the previous question will be followed by five-minute votes on adoption of house resolution 808, if ordered, and suspending the rules and concurring on the senate amendments h.r. 2453. this is a 15-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.] the speaker pro tempore: on this vote the yeas are 243. the speaker: the nays are 164. the previous question is ordered. the house will be in order and members will please take their seats. members will please take their seats. the house will be in order.

reports on the compliance of the russian federation with obligations as a member of the world trade organizationsnd for other purposes. the speaker pro tempore: referred to the house calendar and ordered printed. pursuant to clause 8 of rule 20, proceedings will resume on motions to suspend the rules previously postponed. votes will be taken in the following order, h.r. 6371 by the yeas and nays, h.r. 6586. the unfinished business is the vote on the motion of the motion of the the gentleman from on which the yeas and nays are ordered. the clerk will report the title of the bill. the clerk: a bill to amend title 40, united states code to transfer certain functions from the general accountability office to the department of labor relating to the processing of claims for the payment of workers who were not paid appropriately -- appropriate wages under provisions of such title. the speaker pro tempore: will the house suspend the rules and pass the bill. members will record their votes by electronic device. this is a 15-minute vote. [captioning made possible by the national captioning institute, inc.,

world's biggest cities have located the coast. that's where you trade. that's where the world economy operates, sea-based trade has been organized the world economy for a very>> but people would live a little bit further away from the actually water thain do now. >> there may be particular zoning issues to be sure but we have to understand great cities around the world on are on the coast and i think the great point is there's no way we're going to beat this just through adapts to the changes. we're on the path of raising the impacts so powerfully, so frighteningly that if we don't get the climate change itself under control, i don't think we'll ever catch up through patching, through these kinds of solutions, through emergency response. everywhere that i've been in recent weeks, than's usually a lot for me as i'm traveling around the world, nigeria recently, massive floods when i got there. i was in beige cbangkok recentl. i was remembering the one-year devastation when the whole city basically was under water and the economy took a terrible hit. there had been huge storms, huge sea surges, floods, not to mention -- and we should remember -- the u.s. went

saudi arabia's desire to finally join the world trade organization, peace process and oil expanding capacity. that was in 2005. i think you can say looking back pretty much took the box on counterterrorism. you got a well-admired counterterror operations in saudi arabia. they vote on the educating the public and tracking down people, identifying them, tracking them down, prosecutorring them, and then often trying to rehabilitate them. i don't know of an american official who thinks they are severely lacking in that. there's a great deal in praise in how far they've gone. it took longer for the u.s. and saudi arabia to work together on terror finance, but, a year ago, the treasury held a september review of where things stood on cooperation with saudi arabia on those two issues, and you had stuart levy and fred townsend in the previous ones. in that symposium, what i was struck was unity and basically the boxes of counterterrorism and terror finance picked off and they continued to have tension, but those are no longer issues to put on the next secretary's agenda. they are done, take the box

the actions at least that the obama administration has been taking of late at the world trait trades trade organizationcute those and level the playing field? >> i am. i am also happy about the president's enthusiasm for the mandate that he just got. i think the electorate spoke very clearly spoke very clearly at the presidential level they did know less so at the sen sat level and house level. and they said with great specificities, get this economy back on track in a balanced fashion where we have women and men in manufacturing at roughly two and a half as much as three times the level we have today. >> jennifer: you wrote a piece though, in the huffington post, recently criticizing the president's jobs act saying it was too small by several factors and just the last minute that we have, can you explain what you meant. >> well, i think that we have to be honest about the degree of real unemployment that we have in the nation, governor. it's fully twice the official rate and that's many millions of women and men that we have to get back to work. and i will endorse as you will any job initiative. we ha