persuade the public to trust the labour party with their money? tell me first of all. it labour party with their money? tell me first of all. tell me first of all. it is the most important tell me first of all. it is the most important job tell me first of all. it is the most important job i tell me first of all. it is the most important job i have tell me first of all. it is the most important job i have to - tell me first of all. it is the most important job i have to do i tell me first of all. it is the most important job i have to do to i tell me first of all. it is the most i important job i have to do to ensure importantjob i have to do to ensure people can trust me with the money stop i know how hard people work for the money and how carefully they look after it. when they pay taxes, they need to know as chancellor i would share the same respect for their money as they show for their own money. i also have huge respect for public services. every pound of taxpayer m
are worried as well. the devaluation stokes fears about the state of the world s second largest economy and the government s ability to manage it. to understand it all, let me bring in the former u.s. ambassador to china jon huntsman. he of course also ran for the republican nomination for president in 2012. welcome, jon. thank you, fareed. it s a pleasure to be with you. jon, tell me first, why do you think markets around the world reacted as strongly as they did to this devaluation? well, china is no longer an average player in the global economy. they re the second largest economy in the world. and when you have the deevaluation of 2% off the bat, automatically as you mentioned you re going to have a higher cost burden on the exports from the united states to asia. and to one of our largest export markets. to say nothing of the impact it will have on the region. so when you look at the immediate impact that it had on currencies, for example, in
the home is not actually in great condition. all the neighbors we talked to described the family as a wonderful family. you live here just a few houses down from mr. abdul zeez tell me first what kind of kid can was he? how did you know him? he was a nice kid growing up. knew him from adolescence and he never caused any trouble in the neighborhood. never. he was a good, polite kid and he came from a good upbringing. a normal guy like me. we used to ride go carts and play x box and all the kids in the neighborhood used to hang out. it s quite a big shock to hear somebody could do something like that and then live a couple houses down. it s crazy to hear about not only in your hometown you never hear about it in your hometown but somebody you went to school with. we are all pretty shocked. he was always playing with a guy across the street and a couple others playing soccer or whatever. seemed like a normal family.
is in baltimore. jeff tell me first, what stood out to you in this speech? one of the things that stood out to me was really how governor o malley tried to build a bridge with between what s happening on main street and what s happening on wall street. he addressed head-on the challenges of baltimore. he said there are economic chalt engs that have caused the violence caused the protest. so he dr. drew a link a correlation between what is happening in this city and what s happening across the country. and then he drew a link and said that ceo of goldman sachs, the big investment firm would be happy with a president bush or a president clinton. he s trying to present himself as a new, progressive leader that stuck out to me how he s trying to compare and draw a correlation between all of these economic problems. did you, jeff did you get a sense of confidence from him?
and a smart american government would start taking the measures right now to prevent a greek crisis not next month, but in 2012. those are hard decisions. those are political decisions as well. i want you to listen to something the president said in buffalo on his main street tour this week. the president recognizing that american families get this idea of spending more money than you ve got. listen. it s like going through the family budget, you know, you started getting too many things you couldn t afford and then you re going to start making some decisions. except we ve heard this before. we ve heard this from a lot of different presidents before, peter and chrystia. peter, tell me first, what kinds of decisions have to be made? the president has a fiscal you know, a fiscal forum that he has called. by the end of the year, they re going to give some recommendations. what can they do? and can they get it done? well, the president runs a government, not a household. so, you