There’s a lot of excitement around the sharp outflows seen from emerging markets in the latest figures from EPFR Global. But this story is getting a little overplayed. Asian central banks have heard the message on the need to tighten policy, with Bank Indonesia following the Bank of Korea in surprising with a rate hike in the past few weeks. The positive response to the BI rate increase, with the rupiah rising and local bond yields dropping, show that the central bank showed the inflation-fighting resolve that investors were looking for, even if inflation is being exacerbated by food price run-ups beyond the control of monetary policy.
from Photographers' Blog:
As the year winds down in Seoul, highly-educated fighters dressed in business attire gather for a dramatic showdown. A sky-blue colored dome theater is the venue, and this year, it was again prepared for the upcoming event. Chairs, tables and other office furniture are stacked up on the floor to block people from entering rooms. Police officers stand guard as they surround the domed theater to prepare for any emergency situations. There are ambulances and medics. All entrances to the theater are closed, with tight security allowing only those with prior authorization to enter.
from Russell Boyce:
This week the blog should be called A Week (and a few extra hours ) in Pictures as I wanted to share a couple of images that came in late last Sunday and evaded my net as I trawled through the file. Both are from Thailand and both were shot by Sukree Sukplang. The first is a strong portrait of Thai King Bhumibol Adulyadej as he leaves hospital in a wheelchair to attend a ceremony to celebrate his 83rd birthday. The picture seems to me to mirror the respect that the Thai people have for their King. What makes me think this I am not sure; maybe its the side light which creates studio-like modelling on the king's face highlighting every detail of his appearance, the crispness of the clothes, the beauty of the ceremonial medals and the rich colour of the royal sash. Or maybe it's just the way he is looking back into the lens, his eyes full of dignity and determination.
from Russell Boyce:
I was listening to a radio programme about the history of military music (please bear with me) and a woman recounted a story about the first time she heard the "Last Post" being played at the Cenotaph in London on Remembrance Sunday. The woman (sadly I don't remember her name), said that what really struck her was that after the moment of total silence was broken by the first notes of the Last Post she knew that every one of the thousands of people standing in Whitehall would be sharing the same thought - that of someone who they had loved and lost. Three stories this week put me in mind of this woman as I looked at images of people grieving for lost ones. The difference being that for each person lost the world was watching their story albeit only momentarily; the crushed people in Cambodia, the miners in New Zealand and the four people killed by the shelling by North Korea of the tiny island of Yeonpyeong.
from Tales from the Trail:
Happy Thanksgiving! Washington Extra will return on Monday.
Here are our top stories from Washington today…
U.S. vows unified response to North Korea, eyes restraint
The U.S. urged restraint following a North Korean artillery attack on South Korea and vowed to forge a "measured and unified" response with major powers including China.
from Gregg Easterbrook:
For a generation, the arc of international events has been mainly positive -- the Cold War concluded, the Germanys reunited, apartheid is over. But a few conflicts refuse to end, and one became worse today as North Korea and South Korea exchanged artillery fire, killing two South Korean soldiers. It’s not yet clear how the incident began. Presumably the United States, which has substantial forces in South Korea, Japan and Guam, is at the moment watching closely.