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Leading to more concerns that interest rate increases are on the way. well have more on that in just a moment. property stocks, some of the hardest hit in shanghai. hong kong down as well. obviously very sensitive to whats going on in china, particularly as hong kong becomes more integrated with the mainland chinese economy. in sydney, financial resources stocks dragging the market lower as well. bhp gets a lot of its revenues these days from china. now, as we said, new figures show the worlds...

Restaurant for lunch to a mic microbrewery in the evening, kelly is bringing a bit of american culture to shanghai and its paying off big time. cheers. kelly lee now has six restaurants across the city employing nearly 200 staff. while some in the u.s. worry china is stealing their jobs for americans like kelly, shanghai is the new promised land. >> every year i keep saying to myself im going to go back to the states, every year that im here, i find theres more opportunities. ♪ >> reporter: th...

From cnn hong kong im andrew stephens. >> im in london. welcome back to "world business today." well go straight to the european markets. its looking pretty bloomy here in the first 90 minutes of the trading day. the ftse was down more than 1%. its actually picked up a bit. the concern is about china, will they raise interest rates. also some retail gloom here in london, because christmas wasnt great for a lost the retailers. >> the interest rate question rattling markets in asia today, not surp...

Has -- $2 trillion. here in the united states, youre also working all out to stimulate your economy. president obama has launched a program to double your exports. those in the dinner last night and in my meeting with president obama just now, we discussed how to advance economical situation between our two countries across the board. >> i am very pleased that weve completed dozens of deals that will increase u.s. exports by more than $45 billion and increase chinas investment in the united stat...

Street on wednesday, the dow fell slightly, the nasdaq lost 1.5%. s&p 500 fell 1%. ebay rose 5% after the online auction website says net income rose to 42 cents a share or $559 million. thats on the back of a strong performance from its online payment service paypal. okay. those big numbers out from china, lets give you an idea of exactly what they were. certainly growth is strong in the second biggest economy in the world. inflation is worryingly high. gdp, 9.8% in the fourth quarter. the ec...

Continues to manipulate its currency to keep its currency low to give it an export advantage and to some in the united states that means its cost american jobs. good news on the one hand but interpreted very differently depending on where you are in the world. andrew? >> certainly findication china will change that stance on its foreign currency policy. speaking of the problems the chinese are facing with the rising food prices, what sort of coverage did president hu get? is this getting huge pr...

There wasnt a state dinner that went with it. things were different then. i suppose this is a reflection now of chinas increased standing in the world. but also a reflection, this is being reported here of the tensions that have existed between the two countries as well. last year was a rocky one. if you look at the tensions over currency, the trade imbalances, the issue of north korea, the issue of chinas relationship with iran as well. the u.s. carrying out military exercises, war games with j...

>> hu is the president of china. hu, thats what im trying to tell you. the mans name is hu. hu is the president of china, yes. hu is the president of china. >> okay. so hu is the president of china. hu. >> david letterman, of course, debating that. he is well known in america. im not sure how that will be taken on your end of things, andrew. >> i would say its nothing we havent seen before, max. lets leave it at that, shall we? chinas leader is talking diplomacy and business in washington. in a ...

China is not a u.s. >> if we have another 150 basis points or 1.5 percentage point rise anyone treft rates back to the normal level, is that going to be enough? >> im not quite sure. interest rates is only part of the equilibrium. the liquidity is the bigger issue. china has been doing quantitative easing for a while. >> its interesting saying you listen its okay to go 150 basis points because on expectations, the mark set down 3% today. investors are much more worried than you. >> for a fast-gr...

We carry aa lot of heritage with us in performance sport. thats why we wanted to go to the united states as a brand rather than a manufacturing powerhouse. >> reporter: nike is still a dominant player in china. do you think they have anything to worry about? >> you know, nike is still 17, 18 times our size at this point. i dont think they have anything to worry. >> reporter: you dont? >> i dont. >> reporter: unless americans start to go ga-ga for li-ning. >> welcome to america. these are shoes. ...