Ever trip to the United States. He then heads to new york and philadelphia, and at some point, could discuss a topic hes touched on before, namely, capitalisms flaws. In washington state, the president of china began a nearly week long trip. His first state visit to america as the leader of that country. In addition to meeting with president obama, he will be talking with a whos who have american ceos at a time when tensions between china and some industries are running high. Thats where we begin our coverage with Michelle Carusocabrera in seattle. Reporter the president of china arrives in the United States at a critical time in u. S. china relations. Chinese economy has been faltering and beijing increasing its level of economic intervention. President will be meeting with ceos of apple, most, burke shish hathaway, ibm, general motor who have an a lot at stake in china and deeply concerned about the situation there. One of those meetings orchestrated by hank paulson. China is very important to these multinational companies. And their voices havent been quite as loud in support of u. S. china relations because the Business Climate is becoming more difficult. They have concerns not just about the economy but concerns about the pace of reform in opening up and concerns about whether some of these new laws and regulations are, you know, which are limiting access, they have concerns about the intent behind that. Just today the current u. S. Treasure sect jack lew published an oped in the wall street journal questioning president xis commitment to market reforms. The market is of great importance to many parts of the american economy. President x will meet with five u. S. Governors including Terry Branston who has known xi since he visited iowa 30 years ago. They still have a personal relationship and also an economic one. China has become a Major Trading partner. Were the leading soybean producing state in america. 30 of our soybeans go to china. They also recently a Chinese Company purchased Smithfield Foods because they wanted safe reliable supply of pork. Reporter the other issue, cyberattacks that the u. S. Government believes were orchestrated by the Chinese Government. President obama is expected to press the leader on cybersecurity. The u. S. Has been considering whether or not to unleash economic sanctions on Chinese Companies an us oo accused of hackers. The president s response could determine whether or not sanctions are imposed. Tonight president x will make a policy speech in front of hundreds of political and economic leaders from the United States. What he says will set the tone for the entire trip. For nightly Business Report, michelle ca ruse so cabrera seattle. Joining us is sam saks, a chinese analyst at theure asia group a Political Research firm. Good to have you with us. There are a variety of topics that are friction points between the United States and china. Of all of them whether its cybersecurity or trade or of military relations in the south china sea, what is the one that is the trickiest and is there any possibility of progress on that issue during this visit . The most difficult issue is cyberenabled economic espionage. Unfortunately, i see this as one were not going to see a lot of progress during this visit. Why not . I mean, is it not beneficial that they just discuss what has been such a thorny issue . Would you deem that progress iffive deed, they do sit down and actually bring the topic up . The topic will be discussed. And thats a sign of progress. The fact that theyre willing to address the elephant in the room, but were going to see a more confrontational stance from washington. At the same time, i dont think beijing is willing to give on this and not going to give up on psycher attacks no matter what is discussed on this visit. Talk more broadly whats been going on in china lately. The economy is certainly slowing. We doe know how reliable some of the numbers are. They have responded to drops in the market in ways that are sort of inimical to free marketism. How free market do you really believeing this chinese leadership is . This leadership is actually committed to giving a greater role to Market Forces in the economy. I dont see what happened this summer as derailing Reform Efforts so much as a political distraction. But its going to be incredibly difficult to implement. Theres a lot of vested interest in the economy that dont have a motive to see these changes move forward. Xi faces a lot of opposition in doing so. What about the territorial disputes going on as tyler mentioned in the Southern China seas . Any progress there, do you think . How aggressive do you think the u. S. Will be in pressing china on that issue . I think the u. S. Is going to be more aggressive in pressing china than weve seen in the past. I also think this is going to be met with a more hard line stance in beijing. This government is increasingly confident in its ability to back up its territorial claims. But i dont see Armed Conflict as being a real risk. Lets go back to the question is of cybersecurity which is, i happen to agree with you. I think that is probably the trickiest one to get a handle on. The chinese are a proud country and they dont like being lectured about their practices and we dont like being lectured and im sure the chinese believe were involved in probably some cybersecurity issues that would not be helpful to them. Absolutely. Thats why i dont think were going to see a lot of traction. I think that washington has recognized they have to focus on points of leverage over beijing. Right now that point of leverage is access to u. S. Markets for Chinese Companies. Thats why weve seen sanctions put on the table as a policy option. And in fact, i dont see that threat of sanctions being off the table anytime soon. Unless beijing comes to some significant agreement with washington which is actually not very likely. Miss saks, thank you so much for being with us. We appreciate your insights. Later in the program, well hear from a hackner china. Pope francis began his fiveday visit to the u. S. Which involves travel to three cities. This afternoon, he landed in washington, d. C. Where he was greeted by cheering fans and by president obama and the first family. Mary thompson is in the capital reporting on the pontiffs visit for us. A pretty historic day today, mary. It certainly was, sue. It the 266th pope becoming the fourth leader of the Catholic Church to visit the United States where 70 million identified themselves as catholic. At joint base andrews he waved to the crowds but didnt make nel Public Comments saving his braeths for the many events he has during this tour. It kicks off tomorrow with a meeting at the white house with the president and a mass later in the day. On thursday he addresses congress and on friday, the u. N. General assembly with the main event coming sunday, an outdoor masses in philadelphia to celebrate the conclusion of the festival of families. Expect is the pope to couch on hot button issues here in the u. S. Including immigration, income inkey quality and Prime Minister change. The pope has shaped his message since stepping out last year. That will message being is he is a leader of a churching he has been critical broadly of capitalism. He has been cautioninging about how we humans treat the environment. Phrases that might not go over terribly well in a congress controlled by the gop. Tyler, i number of people say that the phrases that are fiery are the only ones that make headlines. They say its hard to put francis in a box. While he has been critical of capitalism, he has also commented has helped to raise a number of people out of poverty. He talks of business as being a noble profession. At the same time, he says people in those positions in business positions and power have to keep in mind that they need to use that power in order to raise up the poorest among us. As far as Climate Change goes, he sees the environment as one of gods gifts. Its a gift that the people should protect. Thats his message and were expected to hear it especially when he addresses the u. N. General assembly. That is probably when hell speak most on Climate Change. Its not a position very welcome by a number in the gop. You saw his approval among u. S. Candidates go down significantly when he released his paper on the environment in large part because conservative catholics didnt like what they heard. Mary thompson in washington. Worries over Global Growth and the timing of Interest Rate hike here in the United States crept back into the market today. Stocks started the day lower and they stayed there. The Dow Jones Industrial average down 179 points to 16,330. Nasdaq dropped 72, the s p 500 was off 24, bob pisani has more on todays sharp decline from the new york stock exchange. Reporter it was another one of those why are we down days. It wasnt just one headline. It was a series of smaller headlines that added up to more uncertainty in the global market. Chinas president xi xin ping touched down in the u. S. Even though the china markets were up overnight, china was in fox focus as zat Asia Development bank lowered its gdp estimate to 6. 8 down from 7. 2 . Then Credit Suisse came out with a report on the commodities market entitled race to the bottom, citing the longterm problems of falling demand and rising supply cutting the ratings on a number of commodity stocks like angloamerican. Other commodity names like rio pinto all were down 3 to 5 . Elsewhere, the volkswagen scandal is another can of worms. The french finance minister called for a probe into the entire auto sector. Thats a big problem. Companies like volkswagen, daimler and bmw are at the heart of the German Economy and the german stock market, the largest market in continental europe. Little wonder the german stock market down 8 in the last two days at its lows for the year. For nightly Business Report, im bob pisani. As bob just reported, investors here and in europe are keeping watch over what happens with volkswagen. The scandal has widened to include more than 11 million vehicles. And as phil lebeau reports, there are now questions about the future of the automakers ceo. Reporter as the scandal involving would exvegans emissions and diesel deception continues to grow, so do apologies coming from executives with the german automaker the latest from the Martin Winterkorn. He is the subject of a lot of debate right now whether or not he will retain his job. His current contract is up on thursday and many are questioning whether or not he will keep it. One german newspaper says his contract will be terminated. Volkswagen responded to that report calling it ridiculous. We know that the vw board is meeting this week discussing winterkorns future and no doubt discussing whats happening with the emission scandal as it continues to grow around the world. Earlier today, Martin Winterkorn issued a video statement in which he once again apologized for what theyve done when comes to deceiving customers about the level of emissions in their diesel vehicles. Translator i am deeply sorry that we have broken this trust. I would like to make a formal an pol why i to our customers, to the authorities and to the general public tore this misconduct. Reporter also today, vw said 11 million diesel engines around the world are impacted with some type of deviation in the software. Unclear whether that is the same type of situation as what were seeing here in the United States with a half million vehicles that had a defeat device on them in order to get around clean air standards. Volkswagen says it will take a 7. 27 billion charge in the Third Quarter to deal with the emissions issue. Again, volkswagens Board Meeting twice this week as the stock is under pressure discussing the future of not only ceo Martin Winterkorn but its next step as it tries to contain the damage from this emissions scandal. Thats the latest regarding volkswagen. Phil lebeau. One of the worst performing it stocks today was goldman sachs. Earlier today, the Ceo Lloyd Blankfein announced he haslem foema, an illness his doctors say is a highly curable form of the disease. He underwent a series of tests after not feeling well this summer. And had a biopsy last week, which revealed the cancer. Still ahead, with all those Health Insurance mergers, will it hurt consumers . What industry executives said today under oath. Health care deductibles are rising as wages barely budge. Thats the conclusion of a new study by the Kaiser Family foundation. A Health Policy research group. Since 2010, deductibles have risen more than six times faster than workers earnings and almost three times as fast as premiums during that same time. For that report on health care deductibles comes as the chief executives of etna anthem defend their proposed merge in other words front of a senate panel. Some lawmakers are concerned consolidation among some of the nations biggest carriers will result in higher coverage costs. Bertha coombs reports from the capitol hill. Reporter reporter the big question for senators will, Health Insurance consolidation help or hurt consumers. Mark bert lee knee says etna and huma anyways combination wont reduce competition. Today the market competes on choice and choice of doctor. This not change. But to win in the market, we believe consumers should be able to pick products focused on improving the health of the member. Reporter anthems ceo joseph swedish argues his firms combination with sig nag is necessary to meet changing needs in health care after the Affordable Health care act. The turbulence and speed of change in the marketplace necessitates a combination that brings new value to the marketplace. In that regard, we believe this economic combination makes a lot of sense for us because we can come to market faster, better, and then in turn create more value for the consumers. Reporter northwesterns university see more daphne says past mergers havent helped consumers citing her study of etnas acquisition of prudentials Health Business and impact on large employers. Where etna and prudential had the greatest overlap we found the largest reductions in Health Care Employment and wages. We would have expected premiums to go down in these areas but the opposite was true. Reporter senator al franken pressed the insurers to make sure its different this time. Will you commit to passing along the savings to your policyholders . Our savings will be passed along in the price of our product. Do you commit to pass those savings on to the consumers . Well certainly do so to the extent that were providing a very balanced portfolio of offerings to the marketplace that is driven by great value. Im out of time. I do think that we could have gone quicker if those answers were yes. Reporter ultimately, its up to the department of justice and state regulators to sign off on the deals. The antitrust division of the doj has already asked etna and humana for more information on their proposed merger, theyll likely ask anthem and cigna for more information, as well. Ber that will coombs, nightly Business Report, washington. Today democratic president ial hopeful Hillary Clinton outlined her plan to reign in the rising cost of prescription drugs. And change the way the pharmaceutical industry does business. Under my plan, drug company whos want to keep getting federal support will have to redirect more of their profits into meaningful investments in research and development. That will mean more breakthroughs, more good drugs, not fewer. This comes one day after she took to twitter to condemn the price hike of a 62yearold specialty medicine as we reported yesterday. Meg terrell joins us now, shes been following that proposal. Meg, is mrs. Clintons plan as worrisome for the biotech industry as investors yesterday feared . Hey, sue, well, there are parts of it that are worrisome to the community. What some folks are saying the reaction weve been seeing in the stocks are more just a reflection of the jitteriness of a market prizing for five years and the signs that anything could come to potentially stop it. What clinton really focused on today and what we heard from her was trying to get companies to direct their focus from marketing over into research. But the main thing that the drug industry and that investors are afraid of is shes going to give medicare the ability to negotiate drug prices and did lay that out in her plan today. What would it change and how would it affect specific companies and their stocks . So if medicare were enabled to negotiate drug prices analysts say this could change everything. Decades of the way the drug industry is built. Right now, private insurers are the only ones doing the negotiating. And that could really weigh on drug prices. Another thing that clinton laid out was to only to cap the out of pocket costs for prescription drugs at 250 a month. What folks say that could affect the insurance stocks more than the drug Company Stocks because it would