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India wakes to a Tibetan headache
The Dalai Lama, the spiritual leader of the Tibetan government in exile based
in India, is reveling in all the attention from the hordes of Western media
people who have descended on his Himalayan township. For now, Beijing's
crackdown on protesters in the Tibetan capital, Lhasa, plays into his hands as
a fierce critic of China. But a delicate three-way diplomatic tango is
commencing, involving the United States and China, with India providing the
turf - which can only turn out messy for India, as well as for the Dalai Lama.
- M K Bhadrakumar (Mar 17, '08)
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Olympic flame burns ominously
In just a few months, the Olympic torch is due to pass through Lhasa, the
Tibetan capital that has erupted in anti-Chinese violence. Officials in Beijing
are adamant that nothing will stop the torch's progress on its way to the
opening of the Games in August. Which means that whatever it takes, the
protests will be silenced. - Situ Feng and John Ng
(Mar 17, '08)
IRAN VOTES
A new political space opens
As widely expected, "principalists" - conservatives - have taken the majority
of seats in Iran's parliamentary elections, although reformists have fared
better than anticipated. With some seats going to a second round of polling
over the next few weeks, the United States' anti-Iran rhetoric will further
strengthen the hands of the conservatives. - Kaveh L Afrasiabi
(Mar 17, '08)
My Lai probe hid policy that led
to massacre
The My Lai massacre of as many as 400 Vietnamese civilians by US troops in 1968
has long been perceived as the rogue act of overzealous GIs and a clear
violation of official policy on the treatment of non-combatants. But a newly
obtained document suggests the responsibility for My Lai could be linked
directly to the top US commander in Vietnam, General William C Westmoreland. - Gareth
Porter (Mar 17, '08)
SPENGLER
The peculiar theology
of black liberation
US presidential nominee candidate Barack Obama belongs to a Christian church
whose doctrine casts Jesus Christ as a "black messiah" and blacks as "the
chosen people". At best, this is a radically different kind of Christianity
than most Americans acknowledge; at worst it is an ethnocentric heresy. (Mar
17, '08)
Rubber chicken for China's sick soul
In China, despite all the hype about greater press freedom and political
reform, maintaining the supreme power of the Communist Party is still national
priority number one. All the new acronyms and "mega-ministries" unveiled by
Beijing last week should not be misconstrued as a grand plan to tackle the
country's challenges. In the end, it is all pretty simple: bureaucratic
restructuring is what masquerades as reform. - Kent Ewing
(Mar 17, '08)
Russia throws a wrench in NATO's
works
President Vladimir Putin has made the North Atlantic Treaty Organization an
offer it will find extremely difficult to resist - making Russia a participant
in the alliance's Afghan mission. The pressure is now on the United States to
embrace the idea of Russia becoming a transit route for supplies going to
Afghanistan. The trouble is, Washington knows Moscow will incrementally want a
bigger role for itself and its allies in Afghanistan, and those allies include
China.- M K Bhadrakumar (Mar 14, '08)
 CHAN
AKYA
Forget Spitzer, fire Bernanke
While the New York governor resigned for what was essentially a private
matter, the world's central bankers cause greater damage and have proven less
accountable for their actions. Continued debasement of fiat currencies leaves
the financial system unhinged and more prone to collapse.
(Mar 14, '08)
THE MOGAMBO GURU
The dinosaur gold-standard
economy
The dinosaurs had a monetary system based on gold, which is why there was no
inflation in prices during the entire Jurassic period, and anyone who says
otherwise is lying. Only a moron would attempt to inflate the money supply when
the entire history of economic mankind shows that this has ruined everyone who
has ever tried it. (Mar 14, '08)
Al-Qaeda steps up its battle in
Pakistan
Tuesday's double suicide attacks in Lahore killed at least 30 people, but the
real target - a secret underground investigative unit - was missed. Al-Qaeda
will try again though, as the newly formed unit poses a direct threat to its
revived battle to win hearts and minds in Pakistan. - Syed Saleem Shahzad
(Mar 14, '08)
COMMENT
US enters 'checkbook war' with China
With its forces stretched thin in Iraq and Afghanistan and its leader nearing
lame-duck status, some might argue the end of the so-called American empire is
near. If Washington's influence is dwindling, a new confrontation will emerge
in which nations compete in a "cash war" over access to natural resources. In
this battle the biggest spender wins, and the US is already being outpaced by
Beijing. - Dmitry Shlapentokh (Mar
14, '08)
BOOK REVIEW
Ancient tactics for modern battles
The 36 Secret Strategies of the Martial Arts
by Hiroshi Moriya
The ancient Chinese maxims featured in the book encapsulate some of Asia's most
cunning tactics for battle and deception. It's useful and surprisingly
applicable advice on how to counter the actions of any tough opponent - be
it in contemporary business, politics, diplomacy or sport. - Michael Jen-Siu
(Mar 14, '08)
 SEX
IN DEPTH
Philippines exports
labor and sex
To escape poverty and joblessness, young Filipinas have for decades sought
employment abroad. But from Shanghai to Dubai, many are underpaid as maids or
nannies and often turn to the sex trade to make enough cash to send home. This
has helped place the Philippines third in the world for foreign remittances,
and funds from abroad now represent almost 10% of the annual GDP.
(Mar 14, '08)
William Sparrow writes a weekly column looking at issues
relating to sex in Asia. |
Sri Lanka's Tigers in crisis
A series of military and political defeats has devastated the Liberation Tigers
of Tamil Eelam, producing the most acute crisis of the secessionist group's
33-year existence. Damaging government attacks on the rebels' infrastructure,
and inner turmoil among its leaders, appear to constitute an irreversible trend
that could portend a final collapse. - G H Peiris
(Mar 13, '08)
Israel raises the ante against Iran
Israeli Foreign Minister Tzipi Livni's "charm" offensive against Iran in the
United States is ominously reminiscent of the sabre-rattling before the
invasion of Iraq. This time, however, the stakes are higher as the way is being
opened for another disastrous war in the Middle East, since Israel is incapable
of peace with the Palestinians. - Kaveh L Afrasiabi
(Mar 13, '08)
THE SHAPE OF US POPULISM
Part 2:
Long-term effects of the Civil War
The present deepening and widening financial crisis is laying naked the
wealth-making mechanisms of society's elites while wreaking havoc with the
lives of low-paid workers. It is also making imminent a wave of populist reform
that may extend for several decades. In this are echoes of the New Deal era and
much earlier reactions to economic depressions. - Henry C K Liu
This is the second article in a four-part series
 Part 1:
A rich free-market legacy - for some
'Terror' attack a warning shot for
Beijing
Chinese authorities have linked the foiled hijacking of a plane bound for
Beijing to independence fighters in the remote northwestern Uyghur autonomous
region of Xinjiang, causing much concern about security for the Summer
Olympics. The investigation has revealed a spate of other "terror" plots and
sent a clear message to the government. - Fong Tak-ho
(Mar 13, '08)
Fallon falls: Iran should worry
Admiral William Fallon's resignation as the United States' top commander in the
Middle East removes one of the most outspoken opponents of the George W Bush
administration's hard line on Iran. Defense Secretary Robert Gates immediately
dismissed as "ridiculous" suggestions that Fallon's departure signaled that the
US planned to go to war with Iran, but certainly now "all options" are back on
the table. - Gareth Porter (Mar 12,
'08)
COMMENT
American Icarus flirted with fire
The widespread view is that US CENTCOM commander Admiral William "Fox" Fallon
was sacrificed by the George W Bush administration because he disagreed with
its policies on Iran while also saving the US from marauding Chinese. This is
bunk. Fallon fell because he committed a far worse crime for a military veteran
- he talked out of turn. - Mark Perry
(Mar 12, '08)
 CAMPAIGN
OUTSIDER
McCain's supremely
cynical VP option
In the US, presidential candidates' running mate choices are almost always
chosen with a sneer toward the electorate and the putative choice does not
always end up sitting a heartbeat from the presidency. The Republicans can take
it to a new level with their selection this year. (Mar
11, '08)
Muhammad Cohen puts the US presidential campaign into
sharper focus from afar.
 SUN
WUKONG
Guangdong looks
for delta embrace
A rising star of China's Communist Party is looking to create a unified trade
zone incorporating Hong Kong, Macau and Guangdong province, a move that would
help his own ascendancy while giving a boost to the Pearl Delta region, where
industry is being eroded by rising costs. - Wu Zhong
(Mar 11, '08)
Why Boeing lost the $40bn tanker
deal
Boeing is still smarting after losing out on a US$40 billion US government
contract to build a new aerial refueling tanker jet, believing it had a more
cost-effective product. But that's not the point. The tankers are not just big
flying bladders of fuel. They are a critical component of the George W Bush and
neo-conservative foreign policy of being able to bomb any country, any time.
Crucially, then, the winning design by Northrup-Grumman and the European EADS
aerospace consortium has a fuel cargo capacity almost 25% greater than
Boeing's. - Julian Delasantellis (Mar 10,
'08)
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CHAN
AKYA
Trust
goes down
the drain
The acquisition of Bear Stearns by JPMorgan Chase at a knock-down price of $2
per share means investors cannot trust the reported book value of US financial
firms any more. And if they cannot trust investment banks, can the trust of
commercial banks be really all that higher? The Fed and other central banks
should now understand that the bailers themselves may need to be bailed out in
time.
Asian stocks plummeted on Monday after the weekend purchase of Bear
Stearns by JPMorgan Chase (figures at market close):
Nikkei 225: -3.71%
Hang Seng Index: -5.18%
Shanghai Composite: -6.34%
Sensex 30 Index: -5.75%
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CREDIT BUBBLE BULLETIN
The worst-case scenario - live
The Fed's failure to forestall a run on Bear Stearns indicates that the US
financial crisis has attained alarming momentum, with confidence in leveraged
securities finance possibly irreparably damaged. The worst-case scenario is
unfolding before our very eyes, and it all imparts a bad feeling.
Doug Noland reviews the previous week's events each Monday.
Inflation tests Vietnam's growth
Annual GDP growth of more than 8% combined with economic reforms has helped to
transform and industrialize Vietnam. Now, as striking workers press for higher
pay, the government's success story is threatened by rising inflation, not all
of which can be blamed on global factors. - Andrew Symon
Indians pays for
fuel-price imbroglio
Indians filling up at the gas pump or buying fuel for cooking have to pay more
than most other consumers in Asia, yet the oil companies supplying their needs
claim huge losses. Between the two are taxes and subsidies that seem to leave
all parties unhappy, except the government. - Raja M
Bad news for
tax revenues
As over-bought, over-promised, over-leveraged, over-the-top idiocies collapse
all around us, losses on this scale are the worst kind of bad news for tax
revenues and governments and recipients that depend on them. The Fed has
created so much fiat money, so much credit for so long, that you must be
brain-damaged even to hope that it will not end badly.
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Google eye too
close for comfort
Internet giant Google came across something even bigger than itself when it
used its Street View service to display the interior of a US military base.
Civilians so far seem to be taking a more lenient view of a remarkable
technology that has dark implications.
Martin J Young
surveys the week's developments in computing,
gaming and gizmos.
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ATol Specials
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The
Gates
Inheritance
By
Roger Morris
(June '07) |
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Syed Saleem Shahzad reports on
the Afghan war from the Taliban side
(Dec '06)
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How
Hezbollah defeated Israel
By
Mark Perry and
Alastair Crooke
(Oct '06)
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Mark
Perry and
Alastair Crooke
talk to the 'terrorists'
(Mar '06)
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China:
The
Impossible
Revolution
By
Francesco Sisci
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The Coming
Trade War
By Henry C K Liu
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A series
by Henry C K Liu
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Sinoroving
Pepe Escobar in China
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Money, Power
and
Modern Art
A series by Henry C K Liu
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Andre Gunder Frank on Uncle Sam and his
shrinking dollar
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By Pepe Escobar with
photographs by Kevin Nortz
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Nir Rosen goes inside the Iraqi
resistance
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Nir Rosen rides with the US 3rd
Armored Cavalry in western Iraq
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