On todays show, plenty to get through of course. Lets remind you whats coming up. Well discuss the president ial debate with experts one which president obama says was clearly the winner while the other thinks romney was the one who looked more president ial. Well hear from the governor of israel Stanley Fisher with a live update from tel aviv. And well get an indepth analysis on the latest earnings out of japan. Find out what stocks our guests think is a buy at 10 30 cet. Also is there more easing on the cards for the fed . Well head out to philadelphia with the latest expectations. The fed begins its two day meeting. But first, president obama and mitt romney faced off for the third and final time before election day in a last ditch effort to convince people theyre the right man to lead the country. John harwood has more on the president ial debate. This final debate on Foreign Policy here in florida was one where the two candidates had totally different objectives. Mitt romney wanted to come across as states man like, pass the commander in chief test. He did that p about he was smooth in his presentation. Mostly unruffled under attack. Agreed with president obama on several key points. President obama on the other hand tried to sustain the momentum he achieved at last weeks debate by staying on the attack against mitt romney, casting him as being all over the map, saying his own Foreign Policy has been working. Its probably true that the president scored more debating points, but theres a question about whether his tone was most effective where romney was trying to appear calm and smooth. One republican congressman told me afterwards that this is a debate in which both sides will tell you afterwards that they won and theyll both believe it. The polls over the next few days will tell us whether either one is right. After all, this was a debate about Foreign Policy in an election dominated by the economy. Its not clear this will move the needle at all. Well find out in a few days. Back to you. Indeed well. That was john harwood. Who do you think won the final debate . Weve been collecting your views. Nearly 30,000 votes show more than 60 believe president obama was the winner while just over 30 have picked mitt romney. You can have your voice heard on cnbc. Com. Or everyone let us know directly, world wide exchange. Worldwide cnbc. Com, tweet cnbcwex or rosswestgate. Besides the u. S. Elections, the rise of china and washington relations with beijing commanded a lengthy portion of the debate. Both tried to outdo each other on who is and would be tougher on china. China is both an adversary, but also a potential partner in the International Community if its following the rules. Day one i will label them a currency manipulator. Which allows us to apply tariffs where theyre taking jobs. Theyre stealing our intellectual property, our patents, designs, technology, hacking in to our computers, counterfeiting our goods. Just a kick check. The chinese currency raising in early session. Also getting some reports that the Hong Kong Monetary authority has been intervening in the currency market. At the same time, bank of spain now seeing Third Quarter gdp down a quarter percent, down 0. 4 , 1. 7 year on year. Im not sure if thats a downgrade. Ill come back to that. But lets turn our attention to china. Strong yuan buying and suspicions pboc may be intervening rallied more than 2 . We were up near postrevaluation highs. This as china is also pressing ahead with measures other than Monetary Policy to support its weakened domestic market. Today new rules announced to allow insurers to trade futures and derivatives at home as well as broaden their Investment Choices abroad. At the same time, the pboc is continuing to flush the markets with cash. Pumping 14 billion by reverse repo offerings today and tomorrow well have the latest gauge on the growth track when hsbc releases it flash data due at 3 45. So where does this leave growth in asia . Joining us first on cnbc is managing director for general Asian Development. Thanks very much indeed for joining us. You down graded your asian growth forecast to 6. 1 in 2012. Heres the thing. A lot of people would say it rebounds next year. Others think growth in the world next year is going to be even weaker. What do you think . We think the growth next time in 2013 will show an uptick 6. 7 from 6. 1 this year. I think its important to realize that there are risks and the major risks are of course the euro crisis and whats happening in the u. S. Fiscal cliff. Those are very major external risks. There are china is not going to grow at the double digit rates weve seen in the last several decades. India is going to show moderation in growth. So theres a softening of demand internally within asia. External factors are weaker. So i think well see lower growth, but its still going to be a fairly handsome 6. 1 this year, 6. 7 next year. There seems to be weve had some extra stimulus coming through. Some countries may think about needing to raising rates. But on the whole, how much reluctance is there for additional stimulus . Our feeling is that asia does have the fiscal space. Most of the countries. China has a huge fiscal surplus. China also does not have major inflation. Its actually moderating, so their policy can be more accommodating. The fiscal space is much more limited in have i. But at this point, we didnt think asian cups need to go into Counter Cyclical surplus. I think its more important to keep the growth forces going. Didnt need a major stimulus on the cyclical side at the moment. How big an impact is europe having . The very weak growth or negative growth in most of the countries. Quite significant actually. This year we expect the eurozone to be a minus 0. 6 . Just a slight uptick flex year. So europes situation does have a major impact on asia, china certainly gets affected. So decoupling always has been a myth. And if we need any evidence, its obvious now we keep lowering our growth forecasts. But i think its important to accept that the double digit growth rates in china and asia, well get to a new normal, maybe 7 , 8 , which is nothing to sneeze at, but still lower than what weve seen in the past. Okay. Youll stick around a little longer. Pleased to say. Lets recap the spain growth number that i had. Bank of spain coming out a short whiling a go. Third quarter gdp contracting 0. 4 quarter on quarter down 1. 7 on the year which is the number we were looking for, but still firmly in negative territory of course. Corporate news, yahoo Third Quarter profit has come on pretty strong. Revenues mostly flat, but core search revenues up up 11 . And on her first call, made r m mayer said yahoo would be committed to going back to its roots as a Consumer Internet company and stressed the importance of positioning yahoo for the shift to mobile devices. Yahoo hasnt capitalized on the mobile opportunity. We havent effectively optimized our website. Weve underinvested in our mobile Front End Development. And weve splintered our brands. We have more than 76 applicatio applications. All of this needs to change. Our top priority is a focus coherence mobile strategy. After hours, yahoo stock up 4 and in frankfurt, up nearly 5 . Texas instruments profit was up 30 mostly on tax changes and Insurance Payment rates. Results between beat forecasts. Customers are still being cautious because of the uncertain economy. T. I. Stock in frankfurt is marginally higher. Apple gets set to take on amazon. Reports suggest the screen size of the mini ipad, if thats the actual name, will be around 7. 8 inches. About the same as a kindle and it will compete directly with the kindle fire. Amazon says the new kindle fire has been it top selling product since it hit the market last month all these it wont specify sales numbers. Apple is up in frankfurt. Samsung is down slightly. Lets talk more about that. Samsung display reportedly planning to end its supply contract with apple as early as next year. The news raising plenty of eyebrows. Whats up with them, why are they going to end this agreement . Samsung Group Official tells cnbcs that it is true that panel orders from apple have been reduced. This after a korea times report that says a Samsung Group affiliate is terminating its contract with apple and whether no longer supply its lcd panels to its long time partner citing inside sources at samsung. The report went on to say that starting next year, its completely stopping display shipments to apple. We were able to confirm that this is because of apples demands for huge price discounts for panels. There have been many conflicting reports about this supply relationship between samsung and apple, and some have speculated that their patent legal battles might have something to do with it. But the Samsung Official i was speaking to earlier today told me its strictly about business and generating cash. So where whether they go into if not apples iphones . Very conveniently samsung said galaxy smartphones. Thanks very much. Meanwhile, caterpillar has reported a decent Third Quarter, topped estimates. But the Construction Equipment maker has lowered its 2012 guidance. Saying the Global Economy is weaker than expected. China outlook slightly optimistic. Orders should pick up enough to justify ongoing investments. They hope u. S. Politicians dont lose sight of chinas role in the Global Economy. Im hoping that all this receipts rhetoric is election season. They desperately need each other. We have to find a way to live in the world. And i hope that come january cooler heads prevail. Did you see it as electioneering . I would completely agree with previous speaker. I think both countries need each other and they have much more in common than not some of it is necessary tick politics, but china depends very considerably on the u. S. Market even though rebalancing is taking place, domestic consumption increases in china will take some time. Youve got to spend time getting the social safety nets in place. The wages increases will take time. The pension increases will take time. So china needs the u. S. The u. S. Needs china. China is a huge investor in the u. S. So im sure cooler heads will prevail when it really needs to. How worried is asia about whats going on between china and japan . Again, we believe that the two countries have a lot more in common than not. Of course there are political issues, but we didnt think it will derail anything fundamental. China and japan again have much more Economic Issues that bind them together. The question is whether youve bound each other enough in trade to dampen those down. You get sointegrated. So theyre much more invested in each other for anything to really get out of hand. All right. Stick around. Lets remind you whats happened with the trading day in asia. A lack of trading leads asian markets to a mixed close. We salle sow some consolidation. But the market didnt react to thely liquidity injection. Airlines lost ground after air china terminated it fundraising plant. And the Hong Kong Market is closed today for a public holiday. Well watch for share reaction of china mobile tomorrow. The Telecom Giant come in with slightly better than expected q3 earnings after yesterdays bell. Elsewhere the nikkei turned slightly higher in late trade to keep alive its longest winning streak in 15 months. It lifts support to exporters as trading around some multimonth high against the euro and also the greenback easing hopes for next weeks boj meeting. South koreas kospi was sunk by Ship Builderses. Pass coe also shed over 2 after a ratings cut ahead of its q3 earnings. But lg display rallied on the ipad mini expectations. Accept s sensex lower by half a percent at the moment. Thanks for that. You can sk secan see were domi red. 9 1. Pretty much at the session low. Lets remind you what happened yesterday. The ftse 100 down 0. 2, dax down 0. 7, similar for cac. Ftse, were down 40 points. Cac 40 down two dwsh thirds. 0. 3 lower for the ibex. As far as yields are concerned, well keep them below 6 , but they are nudging higher again, a little higher in italy, as well. 4. 8. Treasuries yields just coming down slightly as stocks get sold off 1. 78 as are bund yields, as well. On the currency markets, dollaryen, we hit a three month low on the yen against the dollar. 79. 74 at the moment, but we got up to 80. 02 earlier on. Aussie dollar lower. Sterlingdollar getting back towards 1. 60. We hit 19. 3140 on eurodollar last week. Still around the 1. 30 level that we were at yesterday. So euro finding it hard to get anymore gains into on there. Still to come, the governor of Israel Central Bank is speaking exclusively to cnbc about tensions with iran. Well be in tel aviv. So uh this is my friend frank and his, uh, Retirement Plan. One golden crown. Come on frank how long have we known each other . Go to etrade. They got killer tools man. Theyll help you nail a Retirement Plan thats fierce. Two golden crowns. You realize the odds of winning are the same as being mauled by a polar bear and a regular bear in the same day . Frank oh wow, you didnt win . I wanna show you something. Its my shocked face. [ gasps ] [ male announcer ] get a Retirement Plan that works at etrade. Saying they cant rule out a 2012 deficit target overrun. Of course much depends on what happens with the growth figures and tax revenues. Cant rule out things getting worse. Probably fair enough really. Meanwhile president obama and mitt romney traded jabs on Foreign Policy in their final debate last night. Romney called for a stronger u. S. Presence on the world stage while the president argued his opponent had been inconsistent on his views. They did agree on several issues such as ending the war in afghanistan and possible military intervention in syria. But differed sharply on tackling Irans Nuclear program. Its warned romney eye antiiran rhetoric makes solving the dispute harder. It must be through diplomacy and not military reaction. One 69 subjects thats come up in tel aviv. The governor of the bank of israel. Hadley, how is he responding to i suppose in israel youre always responding to increased tensions. What did he have to say . Well, ross, he did mention that there are contingency plans in place. But i did want to talk just a bit about the comments following a report that we saw from the New York Times last week saying the white house and tehran are preparing for the resumption of nuclear talks. President obama last night did deny that report and then he said that hasnt stopped the internal debate from happening over how, when and if tehran might come to the table. So israel was mentioned at least 32 times in the debate last night. Both president ial candidates taking the opportunity to express their support for israel in the event of any kind of an attack and reaffirming their commitment to keeping tehran from keeping a nuclear weapon. And of course right now, u. S. Military exercises here in israel, those exercises are centered around integrating the countrys Missile Defense systems. But despite those Close Military ties, theres been no indication that either of the president ial candidates would support any preemptive strike from israel or that that would be welcome. Including mitt romney who said that would not actually happen if he were elected president. Just hours before the debate, i did get the chance to sit down with the Central Bank GovernorStanley Fisher and asked him whether he thinks tehran is on the brink of collapse. If they collapse, its through a political impact of whats going on in the economy. They can go down and continue to go down, but people find a way to keep life, economic life, going. It seems clear that theres serious deterioration in this situation, particularly in whats happening to the exchange rate. But you what the political impact of that will be is something that remains to be seen. It is likely to have a political impact and what happens next will depend on how their authorities deal with it. Would you say a more stable economy in iran would mean a more stable political situation in the region . I dont know the answer to that. Theres stable at low levels and stables at high lengths. So in terms of the occurrence sanctions on iran, they are detrimental to the iranian economy and possibly thats a knock on effect for the region. Because of the geopolitical situations, would you say they should remain viable . My guess is that sanctions will continue to be tightened as long as the Iranian Program seems to be proceeding rapidly. And in terms of the Political Uncertainty surrounding any kind of action over tehrans nuclear am biam bish shons, what kind o contingency plans do you have in place . We have to consider what could happen to the east of us and in our relations with iran, in the worlds relations with iran. So we plan for all sorts of eventualities, but i wont go into them now. And in terms as a central bank, would you say that you can ever really prepare for the possibility of a conflict between two or three nucleararmed nations . You have to prepare as best you can. Every time you make a plan including a personal plan, things dont work out exactly as you thought they would and you have to adjust as you go along. But having done the planning process is very important it for getting you to think in the right way, to anticipate what might come up. So we do plans, scenarios, exercises in how the bank would work in these circumstances. Are they whats going to happen . Almost certainly not. Are they helpfull . Very definitely so. You can hear more of that interview on cnbc. Com. And be s