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  January 16, 2002 atimes.com  

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Market Watch
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Front Page



WAR AND TERROR

Musharraf draws flak from Arab world
It is too early to gauge what effect President General Pervez Musharraf's controls on religious schools will have, yet already there are rumblings that some Arab countries are becoming disenchanted with Islamabad's abrupt policy changes, writes Syed Saleem Shahzad. (Jan 15)
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Pakistan's actions will speak louder than words
The withdrawal of legitimacy bestowed so far to terrorism as a tool of state policy in the name of Islam is a historic break from the past for Pakistan. But to really stamp out terrorism, President General Pervez Musharraf will have to translate his words into action, writes Sudha Ramachandran. (Jan 15)
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THE ROVING EYE
We are the (United States') world

Under the euro-euphoria, it is possible to detect a subtle movement of tectonic geopolitical plates in Europe. Simple-minded intellects might define it as "anti-Americanism", writes Pepe Escobar. It is in fact a pervasive awareness that the next step of European integration will see the emergence of a counterpower to the New American Order. (Jan 15)
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Turkey banking on Saddam
Turkish leaders remain extremely worried over the possibility of Washington turning on Iraq. In the mid-1980s, Kurdish guerrillas launched an insurgency in southern Turkey and northern Iraq for the creation of a Kurd state, and Ankara fears a Kurdish uprising if Saddam Hussein's regime were to collapse under US strikes. (Jan 15)
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India in a dilemma
Though India is sounding churlish in view of the universal acknowledgement, particularly from the West, of the revolutionary nature of President General Pervez Musharraf's reversal of Pakistani policy vis-a-vis religious extremism within Pakistan as well as militancy in Kashmir, India's cynicism is not entirely unfounded, writes Sultan Shahin. (Jan 14)
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Related articles
Please click here for the best of Asia Times Online's coverage of events leading up to the September 11 attacks and their aftermath.



Some lessons in Taiwan's passport row
Taiwanese travelers have long complained of being confused with citizens from the mainland, something that their government has moved to address by authorizing the addition of the words "Issued in Taiwan" to their passports. Problem solved? Not so, says Laurence Eyton. (Jan 15)
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Tokyo turns up the military heat
Three weeks after the Japanese coast guard pursued and sank a "suspicious" ship beyond the country's territorial waters, it is still unclear what the identity and purpose of the vessel was and the exact circumstances of the clash remain in doubt. Alex Berkofsky writes that what is clear is that the incident underlines Japan's recent enthusiasm to engage itself militarily. (Jan 15)
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Hanson's exit spells doom for One Nation
Pauline Hanson's low-key exodus has effectively sealed the demise of One Nation, the anti-Asian immigration party that she took to the forefront of Australian politics almost five years ago. However, Alan Boyd writes that her departure is unlikely to stem the wave of conservatism she helped put in motion. (Jan 15)
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Colombo tears down barriers
The barricades and checkpoints are coming down in Colombo as the new government of Sri Lanka continues to proffer an olive branch to the Tamil minority. Critics call these actions suicidal, saying that the Tamil rebels have proved that they can't be trusted. Others say that the previous government's security measures were oppressive and counterproductive. (Jan 15)
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Living - poorly - off the land
As a conference on rural work geared up in Beijing earlier this month, angry farmers in the impoverished province of Henan threw stones at officials trying to collect taxes from them. Improving the lot of its farmers is a top priority for Beijing, and not just for altruistic concerns: the rural population tops 800 million, and keeping such a vast market in poverty is in no one's interest. (Jan 15)
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China's ethnic Koreans seek better lives in homeland
More money and ready work are there for the taking in South Korea for hard-working ethnic Koreans now living in China. But as more surge to fill South Korea's factories, a law making Korean immigrants quasi-Korean nationals is making both the Chinese and South Korean governments nervous, not to mention the Korean community left behind. (Jan 15)
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Vietnam to spend big on agricultural development
Vietnam will spend an estimated US$11.3 billion over the next five years to realize its ambitious agricultural development program, which envisages a reduction in the number of poor households. Rural infrastructure remains inadequate, with many communities virtually isolated due to the absence of motorway links, and still without access to power or clean water. (Jan 15)
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ASIAN MARKETS: Sentiment restrained
Indices closed broadly lower after overnight losses on Wall Street. Sentiment was restrained throughout the region on expectations that the US economy would see a further downturn. Japanese investors were skittish on renewed credit concerns, while shares lost more than 3 percent in Seoul. (Jan 15)
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Business in Asia Today
India's Shaw Wallace to expand breweries; Huan Hsin buys Malaysian subsidiary stake; Korea's HEC to build Internet-ready apartments; Indonesia's Natuna to supply Petronas; Ford in sourcing pact with India's Hindustan Motors ... (Jan 15)
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DIRE STRAITS
Battle goes to the polls

A Malaysian by-election this weekend, the first since the September 11 terror attacks in the United States and Kuala Lumpur's subsequent crackdown on alleged Muslim militants, will be a test of how well the ruling coalition can capitalize on its renewed strength derived from its local "war against terrorism". Still, the opposition has other arrows in its quiver, writes Anil Netto. (Jan 14)
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Globalization 2002: blessing or curse?

The US economy has critical mass in today's world and hence the prospects of other regions, whether emerging or in their post-industrial state, depend on the US growth outlook more than ever. This is part of the resentment that has been the basis for the anti-globalization forces. (Jan 14)
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PYONGYANG WATCH
Karl Marx 4, Kim Jong-il 0

A recent editorial in North Korea's leading daily says that it is the "revolutionary army" that is the key driving force of revolution, and not the working class. Aidan Foster-Carter writes that this new "theory" shows how utterly North Korea has betrayed its roots and turned Marxism upside down. (Jan 11)
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PACIFIC BEAT
Fijian chalk circle

Fiji's best hope is that marginalized moderates of all ethnic affiliations can forge a neutral alliance embracing government, business and community interests - a sort of altruistic social conscience. Alan Boyd writes that for Fijians to put national interest above ethnic suspicions is no easy task, even in a stable social climate. (Jan 11)
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FINER THINGS
European restoration

Upon touching down in Vienna from a long and very trying flight from New York, Chawadee Nualkhair rights her world by doing what she does best, sampling the city's culinary delights. First up is a restaurant serving what it boasts is the country's biggest wiener schniztel, a deep-fried, breaded monstrosity as big as your plate. Restored, she moves on to Hungary, where she encounters the perturbingly named "fish soup with offal". (Jan 11)
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SRI LANKA: The Untold Story
Chapter 22: 'Only God Can Save the Tamils'

A chili dispute raises the temperature, the seeds are sown for constitutional reform, a civil insurrection is put down, and Dudley Senanayke passes away in 1973 in K T Rajasingham's 22nd chapter of his treatise, a history of Sri Lanka from a Tamil viewpoint. (Jan 11)
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surrection is put down, and Dudley Senanayke passes away in 1973 in K T Rajasingham's 22nd chapter of his treatise, a history of Sri Lanka from a Tamil viewpoint. (Jan 11)
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