they want to join wto, join the world economy.they do that, they require lots of goods and services. >> what about the situation in europe? it's kind of a two-pronged problem. one, you have the economic problems that they're facing, the debt problems that they're facing. and at the same time they also have a weak currency and the dollar is strengthening so for a company like yours doing exporting, it's a difficult situation to navigate. >> well, we're kind of used to that with europe. we have seen the ups and downs of europe over many decades and europe is a risk to be watching and certainly this summer and keeping a close eye on the countries. but when it comes down to it, we build products in europe to compete in europe and stay in europe and we offset the sales and the cost to some degree. we're pretty well balanced around the world in terms of dollar exposure and not so worried about that as i am an event politically motivated i think in the case of europe to spill out beyond the european borders and cause havoc for the rest o

cawhea wto@ oeievbe dienant read in print. so i think the keyword is "hybrid," and i think we'll be aring a lot more about how publishers look to whether they should publish book in e-bk first, shoultheybrinut inhavendn b paacewmo o a yero so perhaps there'll be even more experiments in terms of timing and form than we'll see right now. >> host: sarah weinman, when it comes to amazon, does amazon change the pshwo y? g: lu. nengre is this beheth retailer that has an amazing ability to market directly to its customers. they always keep the customer in mindfit. wherre pemit if ke ce bks ths obwi the e-books or something didn't get shipped right, they answer their customers' needs right away. but it's also because they've been moving more aggressively into publishing. for example, one of the big publishing news tof an whhequhe dilgh-nd i also believe the print rights -- to ian fleming's james bond novels. and i believe those will be released in the next few weeks. so averageally penguin had a n- lsed c -giyen ha ten-year license.

the wto could set up a dispute panel as early as next month. japan's government expects the panel to issue a ruling around summer next year. >>> a fight between teenage boys are becoming more common in chongqing province, one of china's major manufacturing zones. migrant workers in the city clashed with police. some injuries were reported. the violence was apparently triggered by a fight between a local student and a young migrant worker from an inland city. news report said after security personnel intervened and beat the young migrant, relatives and other migrants started a riot. public discontent is growing in china as economic disparity spreads among the working class. the chinese government is becoming concerned about the recent increase in social unrest. >>> britain's queen elizabeth celebrated her diamond jubilee earlier this month. the country held special events marking her 60 years on the throne. the queen reigns over england, wales, scotland and northern ireland which together make up the united kingdom. scotland was an independent k

the wto could set up early as next month. the ing around >>> fight between boys becomin chongqing manufacturing zones. wor in thed police. some injuries were as apparentlyht between a and a an news report personnel the young es and other discontent is growi china as economic disparity spre working class.nese government becoming concerned aboutcent increase in social >>> br elizabeth her diamond jubilee s marking her 60 years o the queen reigns over engl ireland which togethed kingdom. scotla kinse of their last month the sco launched a campaign inrld's to ragoto repo head of the scotti party or snp.he's also scotland's first top post in theauthority.eek be held on the issue in 2014. had an ale before. >> the people who live in scotland are best plac scotland.e power of >> reporter: s people w occasion, a sign of the value traditions.ortable about s veryould have management sci ng the 1970s, oil fields were coast in the north sea >> there but ed for the benefit of futer: scottish demands of the central government have achieved

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he said this would ensure groups receive the full benefits of russia going in to  the wto. he said if the united states doesn't grant it then united states businesses and exporters will be at a competitive disadvantage compared to other countries. >>> crop progress isn't looking much better in the eastern corn belt as many states are still begging for rain. the dryest areas seem to be in indiana. the latest crop progress report shows a continuing decline in the condition of the corn crop there. 32% of the indiana corn is good, another 5% is excellent. that's a 12 point decline from last week and a 20 point decline in two weeks. ohio has a 11 point drop. >>> those are the headlines, now back to john. . >>> let's head to the texas panhandle where farmers adding up losses recent storms. we got photographs from chris. he said the storm shredded this corn crop. he also sent this photograph shot near texas. the wind was strong enough to blow over several segments of a pivot irrigation system. in washington county oregon most varieties of winter wheat have come out. statewide more

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china is not a signatory under wto. so they are not obligated to give fair opportunity to foreign producers of products that they might buy through their government organizations. should we be doing more with our buy american policies to try to support u.s. industry? i mean, i'll give you a specific that i attended a groundbreaking ceremony last year in santa fe and, you know, the cells were made in china. we make them in mexico and other parts of the country and i'm sure they were chiper and purchased by the contractor that who was hired by the governmental agency that was putting in the panels. should we be doing more to urge that the u.s. government and entities pursue a buy america policy when it comes to u.s. industry? mr. wolff? >> i think that the fact that in the case of semiconductors, government demand initially drove the startup of this industry, government demand started titanium. government demand didn't demand the flight space program really gave us our start on nanotechnologies. government demand gave us

then get into a wto swamp. cotton made the decision to go from the commodity program. that was a big step forward. for the south, i think that is a big telling situation. >> did you want to follow-up? >> i did. i am sorry. i did not mean to interrupt you. i was going to follow up and _ a couple of things. one is that change is hard. we do have a different kind of economic reports and analysis of people can disagree about them. we have had two. one came out from the university of missouri. which looked at what we have done for cotton and what we have done through the agricultural risk coverage program for all the commodities. we cannot pretty even in fact, we do better than all the rest of the commodities. within a fair range and how it would work. on the price and, we have heard a lot of concerns. we believe the economist who has indicated, looking at the price issue, and what we use in a five-year average to look at it. folks are most concerned, in his analysis would actually do better and be more protected. i know there are some differences as to whether or not -- pe

yesterday on wto preponderate's ask the governor, mcdonnell indicated he might be a contender for the gop's vice presidential nominee. he refused to discuss the vp vetting process and referred questions to romney's campaign. previously, mcdonnell that denied he was seeking to be romney's running mate. the change some tone suggests the virginia governor could be vetted for the position and he says, for the nomination comes, he certainly would consider it. and romney again will be in sterling, virginia today campaigning as well. >> thank you. >>> a look at some of our top stories. theresa sullivan is once again the leader at the university of virginia. yesterday, the board of visitors unanimously voted to reinstate her as president. move comes less than three week after sullivan was forced to resign due to what they called philosophical differences. rector helen dragas apologized for how it was handled. the newly appointed president called for unity on campus. >> no time for residual hostility. we can go forward with what is best for the university only if we go forward together. >> ori

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we took our regime, fisk eti to -- taking it and the wto has ruled it illegal and then we came up with our 199 manufacturing incentive, very crude, but it was a very rough offset to deal with the ability of v.a.t. countries to get a subsidy on exports. that's the origin of 199 which raised the question, we should try to enact something that deals with that v.a.t. advantage. senator wyden. >> thank you, mr. chairman. i think it's been a good hearing, mr. chairman, and i think we've sort of had a wake-up call for just how tough this is going to be to actually write a bill, and let me start, if i might, for the last five years i've worked with two very thoughtful conservatives here in the senate, senator gregg and now senator coates and another democrat senator begich and we've produced a tax reform bill. it's modelled after the '86 legislation where you clean out a lot of the clutter, hold down the rates and keep progressivity, and it's been joined by the tax committee as essentially generating revenue. one of the toughest parts of actually sitting down, and senator gregg and i spent wee

the world and there is a lot of opposition to them and a lot of people were upset and we went to the wto. and what we have found a single important thing, and to adjudicate between countries and most of the time, and on occasi occasions we'd, and when we have our own detriment, but i happen to think that we have great competence in the military. i happen to think that it could be better if we could avoid most of the need to confront militarily by joining an organization that 161 countries are already in and couldn't all be one, and having a way to participate in the process, and giving the money that pays some sort of royalties or fees is a fraction of what the government will make on this deal and clearly it would be much, much better to find a way to explore these tremendous resources without having to do it under the protection of enabled power. under that argument, we could sail across -- go anywhere in the world and pull up with our navy and by the way, we will dig right here and maybe you're -- those people may be claimants to that property because of their participation in the tre

a lot of people were upset we went into the wto. what we have found, a single important thing we have found is a way to adjudicate differences between countries. and in most of the time, the united states has won. on occasions we have lost. and even then we have ignored some of those things to our own detriment. but i happen to think -- well, i have great confidence in the military, i happen to think it could be better if we could avoid most of the need to confront militarily by joining an organization that 161 countries are already in, couldn't all be wrong, and having a way to participate vigorously in the process. clearly, the amount of money that you're going to pay in some sort of royalties or fees is a fraction of what the government is going to make on this deal, and clearly, it would be much, much better to find -- find a way to explore these tremendous resources without having to do it under the protection of naval power. i mean under that argument, we could sail across any -- go anywhere in the world and pull up with our n

this gives entry to the wto, world trade organization.ything they want or missile defense. cutting off the czechs and the poles to appease putin on this. we give them everything they want on the issue, arms treaty and arms control that the russians demanded we didn't need. in return for what? apparently there was supposed to be help on iran. they have done nothing. they completed a nuclear reactor in iran. on syria, they have been arming the syrians openly. and at the u.s., preventing the u.s. arms embargo. the least america could do if it's not going to intervene or arm the rebels is impose arms embargo and prevent. this russia stands in the way. we have zero influence on russia after that reset polic policy. it is an abject failure. >> bret: russia, juan says that the weapons are not used to quell the antigovernment demonstration, but when attack helicopters are shipped, it is fairly obvious they may have some role at some point if they don't right now. >> bret: no question it will have a role. we see a civil war there. the requirement

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they led with trade issues, wto, those things. syria fell to the very bottom.y goes in order of most agreement to the least amount of agreement and it's pretty clear that at least as far as syria is concerned very little progress was made at least not enough progress to make anything publicly. the only key phrase that i would pull out is the idea that they agreed to a political process. now the question is going to be define political process. does that mean the russians are open to this idea of getting involved in a political process that would remove assad from power but maybe not overthrow the regime? that would be what the united statsz would say would be huge progress. now none of that was obviously talked about in this part of the conversation behind the scenes and spinning over the next hour or so as both sides' various handlers come around and talk to the press i think we'll get a better idea. >> chuck, this suggestion the russians are going to offer their full support for the efforts of the united nations, this is something that they've not said previo

take them to the wto right away. that is one element. typically, such countries have currency manipulation policies. it is not just china. singapore, taiwan, korea. they intervene in currency markets every day to keep their currencies undervalued. take measures to counter that, with controls if need be. timothy geithner can do it. he does not even have to ask congress to do it. set up a consortium, whenever it is. i think that's a big factor in the united states is investment taxes. i think that very often the incentives for investment in the united states are not nearly as attractive as they are for investment abroad. singapore is the world champion at attracting foreign investment. we could do it and learn well to copy a lot of what singapore does. it is a matter of what is important to us. all right then, what is our strategy? and a combination of carrots and sticks to get what is important to us, and just to emphasize what alan said, i know we have been involved in these discussions for a long time. typically, the webers administrati

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wto s ts coming forward as we move furford in the transition from afghanistan. we're trying to make sure we have as much information so we i can make the best decision for our country and our men and women in uniform and for afghanistan fheff mad th i yac >>ir. s. leghe ttiny he witnesses, mr. boot. >> thank you very much, theng cirman,orni stlht on t ta ich fear get short shrift in our political cultural since the focus of the hearings is ansf, let me just say very briefly i think ansf bl ancasg we stxae w t a ttiee nsidabrtro american forces in terms of intelligence, med-evac, fire support, clearance packages, all sorts of other things, without which they would not be nearly as effective as they and chesecg 3llio peh a foe that's only going to grow to 350,000 in the course of this year. now, the council on found real estates issued a policy invation memo in which i ggteonet s sure the gai of our troops to whom we right hill bay tribute. the gained secured by the troops and by alis and afghan troops during the last couple of years during the sge. i fearf dno ll

the story went on to say the chinese would consider, but they want changes in sanction policy of the wto, the world trade organization had the effect of deadly blasts sanctionable. the story of the versioning economic power and using its muscle in the world. buried next to it was a story that said western business or investment in libya. what was that about? ballads about us taking over us picking over his latest mideast adventure while the chinese are thinking of the next 50 years. and we have to understand this talk about at all income americans and getting our to grow, about being on the cutting edge of technology he. this isn't just about our internal domestic life. this is about leadership in the world and we must not forget that. i'm sorry to talk about this. then the last story would be the political system. the political system in the united states suffers from two major flaws. one is gerrymandering, were redrawn to send. only 50 are competitive. the rest are 6040. the rest to 45. i don't even have to listen to the republicans. but as you have to worry about somebody on my last r

advantages through hidden subsidies such as currency manipulation, and inputt -- input subsidies that the wto is incamable of mitigatings. not only do farmers and ranchers deal with unfair global competition they have to face natural disasters and unpredictable price fluctuations. the senate agriculture committee working together in a bipartisan way will contribute over $23 billion to deficit reduction. that is twice as much as the simpson-bowles fiscal commission recommended. twice the savings. the simpson-bowls commission recommended. in so doing this committee has provided more than its fair share of fixing this country's deficit and debt problems. if the rest of the committees of congress did what this committee has done on the leadership of senator stabenow, there would be no deficit and debt problem. that's a fact. now, mr. president, this is also a reform bill. this is the strongest reform bill that has gone through a committee of congress in the history of farm legislation. and the chairman and ranking member can be incredibly proud of the leadership they've provided. this legislation

on trade issues, they are finally getting in the wto. the relationship is a fairly narrow one. it is because russia is one of the countries in the world that essentially sees the u.s. as too large and influential. there are a lot of countries in southeast asia which are now rallying to the u.s. because they are concerned about the growing power of china. russia is also concerned about growing chinese strength, particularly the naval power in the far east. for the time being, russia is one of those countries which tends to see its relationships with u.s. as being one in were ever the u.s. wins, comes at their expense. this makes for a relationship that its cooperative in a few areas, but mostly adversarial. host: daniel from how we eat. good morning. -- hawaii. the morning. caller: i want to respond to the previous caller. gaddafi was destroying the country. the country of libya is still sorting things out. my question to you is -- the russians are using syria as a chip. the u.s. or the west should never trust those commies. pardon me., to see that ruthless dictator assad gone i

the story went on to say the chinese would consider, but they want changes in sanction policy of the wto, the world trade organization had the effect of deadly blasts sanctionable. the story of the versioning economic power and using its muscle in the world. buried next to it was a story that said western business or investment in libya. what was that about? ballads about us taking over us picking over his latest mideast adventure while the chinese are thinking of the next 50 years. and we have to understand this talk about at all income americans and getting our to grow, about being on the cutting edge of technology he. this isn't just about our internal domestic life. this is about leadership in the world and we must not forget that. i'm sorry to talk about this. then the last story would be the political system. the political system in the united states suffers from two major flaws. one is gerrymandering, were redrawn to send. only 50 are competitive. the rest are 6040. the rest to 45. i don't even have to listen to the republicans. but as you have to worry about somebody on my last r

we took our a shame, taken to wto illegal apparently then came up with a 199 manufacturing incentive. very crude, but it is a very rough offset to deal with the ability of fast countries to get a subsidy on exports. add up surveys the question, to which we should try to enact some shows that that advantage. senator biden. >> it's been a good hearing, mr. chairman and we've had a week of call purchase to test this is going to be to actually write a bill. let me start if i will for the last five years, i worked with two thoughtful conservatives here in the senate. senator gray and now senator coats and senator begich produce an actual tax reform bill. it is modeled after the 86 legislation weekly note a lot of the clutter, hold down the rate can make rate maquis maquis progressivity and has been scored by a joint committee on taxation because essentially generating revenue. one of the typeface parts of actually sitting down and senator gregg and i spent a week after week for almost two years dealing with these issues were talking about here today. the energy question. and i came to this

tariff that they used to pay, 22%, to get their goods in and it has been reduced down to 2% by the wto helped collapse our economy. we keep forgetting that you're dealing with communist red china. thank you. host: mr. rosen. guest: no doubt about it. look at the last 30 years. china started 30 years ago as a post-apocalyptic impoverished economy with nothing going on. 30 years ago, american manufacturing was in a different place. how many of the jobs in textiles and apparel, is that really the reason the u.s. is having the challenges they have had? certainly, in some parts of the country like in north carolina, the loss of textiles and apparel there has been pretty severe and we have had to figure out what comes next, but this is an inevitable process. as part of the american rise from 1875-1940 doing with european manufacturing coming to the united states because we were a regulated market place and a more predictable place for them to be. more aware than anything, we were aware of where the market growth was and where it was stable. when we look ahead to china, take a look at flat pa

thy are looking to become part of the wto. it is like the un for commercial interests. i think they're looking to find a way there. president obama has been a strong advocate on that. >> john nelson with wall street. just got back from los angeles working with the federal reserve bank there on how to better leverage federal credit enhancement programs. there was $1.4 billion of stimulus credits. we came up with a way of leveraging special platforms. don't the other nations have sovereign credit programs that could be impacted for broadening of these kinds of credits internationally? we might be able to show them how those could be enhanced with special support programs. >> i am not familiar with the specifics of the program mentioned but clearly it is in the interest of the united states to try to get more muscular and a greater stimulus to create growth around the world. we are in a growth deficit. we need to get growth going. i was in business for 20 years. we always said growth covers a lot. a lot of things can go wrong and they still work out. once we get past growt

the story went on to say the chinese would consider, but they want changes in sanction policy of the wto, the world trade organization had the effect of deadly blasts sanctionable. the story of the versioning economic power and using its muscle in the world. buried next to it was a story that said western business or investment in libya. what was that about? ballads about us taking over us picking over his latest mideast adventure while the chinese are thinking of the next 50 years. and we have to understand this talk about at all income americans and getting our to grow, about being on the cutting edge of technology he. this isn't just about our internal domestic life. this is about leadership in the world and we must not forget that. i'm sorry to talk about this. then the last story would be the political system. the political system in the united states suffers from two major flaws. one is gerrymandering, were redrawn to send. only 50 are competitive. the rest are 6040. the rest to 45. i don't even have to listen to the republicans. but as you have to worry about somebody on my last r

rates moderating in china lookit being oriented so they are looking to also become as a part of the wto it's like the u.n. for commercial business interests and they are looking to find a way forward and it's something that president obama has been a strong advocate in and somewhat relentless and focused on that. >> we will take questions in the back. just got back from los angeles with the federal reserve bank on how to better leverage federal credit enhancement programs. it was $1.4 billion of stimulus credits, 169 million went to having a hard time getting it out. so we came up with a way of leveraging special platforms of support, credit enhancements in the los angeles reason to the region. the affairs of sovereign credit programs that could be enhanced with other industries like that so there could be a kind of a broadening of these kind of credits internationally and we might be able to show them how those could be enhanced with special credit programs? clearly it is in the united states interest and i think that has been central to all efficacy to try to get more muscular stimula

moderatedded in china, take looking at -- [inaudible] and so they're looking to also become as part of the wto it is like the u.n. for commercial interest, business interest economic interest. and i think they're looking to find a way farred forward. it's something president obama has been a strong advocate and relentless and focused on that. >> we'll take questions in back. >> john nelson with wall street. we were strategic partners in europe milano. appreciate it. got back from los angeles working with the federal reserve bank in better leverage federal credit enhancement programs. it was $1.4 billion of stimulus credits. $169 million went to california. they're having a hard time getting it out. we came up with a way of leveraging special platforms of support credit enhancement in the los angeles region. don't the other nations have sovereign credit programs that could be enhanced with other impact investors like that. there could be a broadening of credits internationally and might be able to show those how they could be enhanced with credit support programs. >> i'm not familiar with the s