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India
braces for surge in terror
The string of eight bomb blasts in the Indian tourist city of Jaipur on
Tuesday, in which 80 people were killed, was preceded by a cross-border flareup
with Pakistan after years of relative calm. The two incidents are believed to
be connected, with fears in intelligence circles of more attacks on Indian
cities to come. In Delhi, though, beyond the usual knee-jerk reaction,
politicians do not appear to see any problem. - Sudha Ramachandran
(May 14, '08)
Indian police sift for clues (AFP)
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No foreigners, no cameras for
Myanmar
 The
Myanmar junta is attempting to keep the death and devastation caused by Cyclone
Nagris from the public and give the impression, locally and internationally, it
has relief efforts under control - no foreigners and no cameras in the affected
areas, please. As for foreign cash donations and aid in kind, it should be
given directly to the generals. (May 14, '08)
UN warns of 'second catastrophe' in Myanmar (AFP)
 CAMPAIGN
OUTSIDER
Death watching Clinton
in her backyard
She may be the two-term senator from New York, but United States Democratic
presidential hopeful Hillary Clinton just doesn't get one of the key rules of
being a real New Yorker. - Muhammad Cohen (May
14, '08)
Turkey combines dialogue with
bullets
In a significant change of policy, Turkey has held high-level talks with the
Kurdistan Regional Government in Iraq in an attempt to isolate Kurdish rebels
based in northern Iraq. Both Ankara and the regional government recognize the
benefits - especially trade - of working closer together, but Turkey's military
option is still very much alive. (May 14, '08)
China, Korea: More nationalist than thou
South Korea got an up-close view of China's new-found nationalism when Chinese
protesters came out en masse for the Seoul leg of the Olympic torch relay.
South Korea had its own patriotic upsurge ahead of the 1988 Games, but the
neighbors continue to brand the other's acts as more excessive and upsetting. - Sunny
Lee (May 14, '08)
Bush quick onto Lebanon blame-game
President George W Bush, on tour in the Middle East, has pledged continued
United States support for the Lebanese government following its clashes with
the Shi'ite Hezbollah militia. Bush makes no secret of his belief that Iran is
behind the recent troubles. Others, though, point a finger at Washington.
(May 14, '08)
COMMENT
Blair's Christian 'challenge' to the East
Former British premier Tony Blair, who recently converted to Catholicism,
apparently believes his or other Christian faiths should underpin the West in
meeting the challenges from the East. But people such as Blair should start
taking the "East" more seriously, and the coming Group of Eight summit in July
could be an opportunity for Europeans to start calling democratic Asians "we"
rather than "they". - Masayuki Tadokoro
(May 14, '08)
Why Myanmar's junta steals
foreign aid
To the Myanmar junta's top generals in their bunkers in the secluded capital
Naypyidaw, far away from the devastated Irrawaddy Delta, their aid
distribution policy is one of political survival at all costs. With rice crops
destroyed, bases wiped out and soldiers running out of food, the military
leadership is scrambling to preserve control by commandeering relief supplies
to channel to its own members. - Brian McCartan
(May 13, '08)
Sears: From majesty to
hedge-fund dust
The life and near death of one store charts the rise and decline of
the American economy, from frontier innovation to the present crisis of
overconsumption. The great US money-creation machine of the past few years has
shut down. As the dust settles, we see that very little of real worth remains.
- Julian Delasantellis (May 13, '08)
A deadly miscalculation in
Lebanon
As a test of strength, the Lebanese government and its Saudi Arabian backers
received a bloody nose in the confrontation with Hezbollah in Beirut. The
government woefully underestimated Hezbollah's reaction to having its
communications - spy - system interfered with. And the Iranian-backed
Hezbollah, with its convincing display of military superiority, made another
clear statement: leave our arms alone. - Sami Moubayed
(May 13, '08)
Hezbollah's shots ring in Bush's
ears
Just about everything the George W Bush administration has tried in the Middle
East over the past few years has undermined United States standing and
influence in the region, even as it has enhanced Tehran's. Yet as Bush visits
Saudi Arabia and Egypt this week, he might be able to turn Hezbollah's stunning
show of strength in Lebanon to his advantage. - Jim Lobe
(May 13, '08)
US misses Iran opportunity
In a busy week for Iran, key nations negotiating with it over its nuclear
program will present an incentive package for the Iranians to consider. At the
same time, International Atomic Energy Agency officials will thrash out the
last remaining issues on the Iran-IAEA agenda. US President George W Bush will
also be in the region, but he won't be dropping by, even though Tehran has
indicated they might be willing to talk. - Kaveh L Afrasiabi
(May 13, '08) |
Koreas not eye-to-eye on Vision 3000
South Korea's no-nonsense new president, Lee Myong-bak, has released his
alternative to the Sunshine policy of his predecessor towards the North.
"Vision 3000, Denuclearization, Openness" is a carrot-and-stick plan that
promises a windfall of assistance should North Korea surrender its nuclear
weapons. But its feasibility is likely to remain academic: Vision 3000 has not
the slightest chance of being accepted by Pyongyang. - Andrei Lankov
(May 13, '08)
 SUN
WUKONG
'Devalue' call undermines
yuan true faith
China for two years has let its currency steadily appreciate against the US
dollar, all the time berated by the US and other leading trade partners who
insist the yuan should strengthen even faster. Now a Bank of China analyst
argues that Beijing should throw its currency policy into reverse and devalue.
What gives? - Wu Zhong (May 13, '08)
 SPENGLER
Why Israel is the world's happiest
country
At the 60th anniversary of its founding, it could be said that Israel is the
happiest nation on Earth. It is one of the wealthiest, freest and
best-educated; and it enjoys high fertility and life expectancy rates. The
light heart of the Israelis in face of continuous danger is a singularity
worthy of a closer look. (May 12, '08)
Another Pakistani D-Day over
militants
The peace deals between the Pakistani government and militants in the tribal
areas have been exposed for what they were, a delaying tactic for the Taliban
to send fresh fighters into Afghanistan. The new government in Islamabad,
provided it staves off a political crisis, and its United States ally now have
to make the hard decision whether to fight fire with fire or risk losing the
battle against militancy. - Syed Saleem Shahzad
(May 12, '08)
China's weakness the greater
danger
Claims that China is an emerging superpower overlook the reality that the
ineffectually governed country will struggle for decades to get and stay beyond
subsistence. The West, rather than fearing China's expansion, should be
preparing for a dramatic setback in Chinese economic growth and resulting
breakdowns in domestic order. (May 12, '08)
COMMENT
The problem with dictators and
disasters
The Myanmar junta's botching of cyclone relief efforts is part of a larger
trend of authoritarian regimes mismanaging disaster response. The long-term
"NGO-ization" that occurred in Indonesia after the 2004 tsunami has the
fiddling Neros in Naypyidaw afraid that the United Nations, not to mention the
United States, might use the occasion to promote grassroots democracy in
Myanmar. - Sreeram Chaulia (May 12, '08)
ASIA
HAND: The
case for invading Myanmar
(May 9, '08)
NOTE: These images may upset some viewers |
China and Japan tiptoe into a 'warm
spring'
Chinese President Hu Jintao's five-day visit to Japan
was an important step towards stabilizing relations between the two powers.
Clearly, a positive Sino-Japanese relationship serves the interests of the
region - and the United States - but territorial disputes, food safety issues
and rising nationalism in both countries remain unresolved. - Jing-dong
Yuan (May 12, '08)
THE MOGAMBO GURU
Stranger than fictional balance
sheets
The US Federal Reserve is taking a whole lot of potentially dodgy assets from
banks as security against Treasury bonds. So far so horrible. Now, Standard
& Poor's has cut assumptions for how much will be recovered after defaults
on some of those assets. So where does that leave the value of the Fed's
"security"? Or put another way, how big is the hole in the Fed's balance sheet
now? (May 12, '08)
 ASIA
HAND
The case for
invading Myanmar
If ever there was an opportunity for the United States to take out an "outpost
of tyranny", as Washington likes to call Myanmar, it is now. The tardy response
of the junta in allowing in foreign aid for its cyclone-devastated population
provides a strong moral case for a United Nations-approved, US-led humanitarian
intervention. Such a move would also allow President George W Bush to burnish
his legacy, which to date will be judged harshly due to his pre-emptive
military policies waged exclusively in the name of fighting terror. - Shawn
W Crispin (May 9, '08)
'All we can do is drink whisky'
Myanmar's people have again been forced to weather a catastrophe on their own,
banding together with little help from the government. Food and water supplies
are growing scarce, disease looms and power is expected to be out for months.
The whisky, too, will soon run out. - Zao Noam
(May 9, '08) |
 CHAN
AKYA
Cyclone
cowards
fear ultimate market
Curbs by cyclone-hit Myanmar on overseas help for its devastated population is
merely an extreme example of a government cowering in fear of information. At a
more prosaic level, Asian authorities concerned with improving their citizens'
well-being should let markets with their abundance of information act in their
favor. They should start with currencies, and then laugh all the way to the
bank. (May 9, '08)
An oil-addicted ex-superpower
The United States' brief reign as the world's sole superpower is over, its
status crumbling as surely as the unlamented Berlin Wall. Last month's NATO
summit is merely recent evidence of the decline. America's utter addiction to
oil, which once powered its climb to might, is its undoing, and an aid to
Russia's resumption of power. - Michael T Klare
(May 9, '08)
US tightens its grip on Pakistan
It is no coincidence that US Deputy Secretary of State John Negroponte chose
the National Endowment for Democracy to deliver a key-note speech on Pakistan.
For years, the US government-funded NED has specialized as a handmaiden of US
policies by funding and supporting foreign politicians. Now it is Pakistan's
turn to get the full treatment, for as Negroponte says, US national security is
inextricably linked to the success, security and stability of that country. -
M K Bhadrakumar (May 9, '08)
 SEX
IN DEPTH
The young ones
In Japan, where the age of sexual consent can be as low as 13, the practice of
an older man hiring a teenage schoolgirl for a "date" is about as firmly
established as Mt Fuji. The time-honored custom of enjo kosai has for
years caused screams of outrage about innocence gone bad, but efforts to
regulate the practice are proving difficult. - William Sparrow
(May 9, '08)
China's submarine progress
alarms India
Reports of China building a massive strategic naval base capable of housing
nuclear-powered submarines on Hainan island in the South China Sea have India
on red alert. The fear is not so much that China will launch any offensive
against India, but that India is falling far behind in the race to dominate the
region's seas. - Siddharth Srivastava (May 8,
'08)
DISPATCHES FROM AMERICA
The US: Your masters of the universe
The US Air Force's new slogan, "Air Force - Above All" conveys the basic
precept that mastery of the air means mastery of the ground. Yet the air force
seeks more than that. It wants to extend its "mastery" to space and even to
cyberspace. This is a disturbing manifestation of the military's quest for
"full spectrum dominance", achieved at debilitating cost to the American
taxpayer - and a potentially destabilizing one to the planet. - William J Astore
(retired lieutenant colonel, USAF) (May 8, '08)
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Indonesia
gets
into hot water
Sitting on a belt of volcanic activity has its upside for Indonesia, which
after a decade-long lull looks set to develop the archipelago's potential for
producing power from subsurface heat. That will help the fast-growing country
keep its skies clear. The environmental benefits will also help oil-giant
Chevron earn credits to offset the filth it produces elsewhere. - Andrew Symon
Nepal goes on China rail map
Nepal, long dependant on India for its links with the rest of the world, will
soon be tied into the Chinese rail network. The gains to the small
landlocked state are clear, while the route will bring Indian ports and markets
much closer to Beijing. All that is needed for cross-Himalayan trade to thrive
is a sea-change in New Delhi's laggardly approach to building infrastructure on
its side of the mountains. - Sudha Ramachandran
Seed giants see gold
in climate change
Monsanto, BASF and other developers of genetically modified crops are looking
to patent changes in plants that help them survive better in the world's
changing climate. But the crop developments may lead to higher bills for
farmers as they become forced use a proprietary biotech platform.
Chicken feed so far on food prices Inflation in
prices, and you don't have to go much further than the local grocery store to
know that it is already with us, generally follows inflation in the money
supply. And given the rate at which that is climbing, those rising prices are
going to go way, way higher. |
CREDIT BUBBLE BULLETIN
A new inflationary epoch
The world is awash in excess funds, large amounts of these in the form of
foreign currency reserves, available to bid up prices of critical tradable
resources. A key question is how much will China, India, Russia and others be
willing to pay to procure adequate supplies of food and energy for their
populations and economies? (May 12, '08)
Doug Noland reviews the previous week's events each Monday.
MARKET RAP
Shadows lighten over Asia
The receding fear of an immediate downturn in the US has lightened the
shadows over Asian markets. National issues such as inflation or the attraction
of regional stocks to Chinese investors found room to assert themselves.
Confidence, however, remains in short supply. (May
9, '08) R M Cutler runs his eye over the ups and
downs in the week's markets.
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[Re China counts
earthquake costs, May 14] ... [T]he earthquake ... will not derail
China's rapid economic development no matter what inflationary pressures might
arise in its wake. There, however, is another dimension to this tragedy which
is psychological and provides grist for the readers of tea leaves ...
Nakamura Junzo
Guam
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to Letters to the Editor |
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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
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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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