Western beliefs in markets 'a mistake'

Ken Livingstone says he would feel more comfortable with China's leaders being in charge of the world's largest economy than those of the United States.

The 68-year-old former London mayor believes they are likely to offer a saner approach to global leadership if China's economy takes over the top spot some time over the next decade.

"When you watch (US President Barack) Obama speak, it's all about how great America is, 'God Bless America' and all that as well as claiming to be the defenders of democracy. China's leaders just aren't that sort of mad. They are much more balanced," he says.