Global News Journal

Beyond the World news headlines

from MacroScope:

Spend Save Man Woman

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Far from being lauded as a virtue, China's high savings rate has been blamed for the economic imbalances underlying the global financial crisis. The criticism being that the Chinese spend too little and rely too much on exporting to Western consumers.

The IMF and World Bank have long called for Beijing to ramp up social spending so its citizens will feel less need to save for a rainy day and instead consume more.

But in their intriguingly named paper,  'A Sexually Unbalanced Model of Current Account Imbalances', New York-based researchers Du Qingyuan and Wei Shang-Jin suggest China's gender imbalance could also be a significant factor in the persistence of its high savings rate. spendsavemanwoman

The pair argue that intensifying competition in the Chinese marriage market is causing men -- or indeed parents with sons -- to raise their savings rates to improve their relative allure among a shrinking pool of potential brides.

from Pakistan: Now or Never?:

Between golf and war, Pakistan’s General Kayani’s future is debated

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kayani profileThe Pakistan Army prides itself on being an institution which rises above politics and personal ambition, committed to defend the interests of the nation. That this has not always been the case is demonstrated by its history of military coups, and a tendency of past military rulers, from General Zia ul-Haq to former president Pervez Musharraf, to impose a very personal brand of leadership.  Where Zia pushed Pakistan towards hardline Islam, Musharraf aimed at "enlightened moderation" in a country he wanted modelled more on Turkey than on Saudi Arabia.

While no one expects the military to launch another coup, some of that historical memory is feeding into increasingly intense speculation about the future of Pakistan Army chief General Ashfaq Parvez Kayani, who is due to retire in November.

from Pakistan: Now or Never?:

In Pakistan, making sense of the “do more” mantra

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damadola2White House National Security Adviser Jim Jones and CIA director Leon Panetta are visiting Pakistan to step up pressure on militant groups following this month's failed car-bombing in New York's Times Square. But what specifically do they want from Pakistan in what has now become a familiar "do more" mantra from the U.S. administration?  That, as yet, is not entirely clear.

The Washington Post and the New York Times quoted unnamed administration officials as saying Jones and Panetta would press Pakistan to step up its military action against Pakistani and Afghan Taliban militants based in its tribal areas bordering Afghanistan.

Managing in a crisis, EU style

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EU cube

 

Never let it be said that the European Union doesn’t get things done.

It may have a slightly maddening way of going about it — last-minute, late-night summits, hours and hours of sweaty, closed-door negotiation, multiple conflicting plans put forward by the likes of the Finns, the Italians and, who knows, the Estonians – and then, hey presto, like the proverbial rabbit out of a hat, at 2 in the morning, a $1 trillion deal to haul the world back from the debt-crisis abyss. All in the name of European unity.

As one Brussels policy analyst put it somewhat delphically : “The EU is not crisis resistant, but perhaps it is crisis proof.” 

from Tales from the Trail:

The coming conflict with China

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2008 was the last presidential election when voters didn't know or care about the candidates views on China, argues political risk analyst Ian Bremmer.

NUCLEAR-SUMMIT/Bremmer's new book "The End of the Free Market" argues that the Chinese economic model -- which he calls state capitalism -- is so fundamentally different from Western free market capitalism that tensions and economic conflict are inevitable in the years ahead.

U.S., Russia in push to crack down on UN Security Council leaks

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The good old days -- the U.N. Security Council before the move.

The United States, Russia and China are quietly backing moves to  exclude “unnecessary” elements from closed meetings of the U.N. Security Council to prevent leaks to the media on sensitive issues like Iran and North Korea, U.N. officials and diplomats told Reuters. They also support moves to reduce reporters’ contact with delegates outside the council chamber. But the new measures have sparked a furor among journalists and less powerful members of the United Nations, who argue that the steps are discriminatory and will make what they say is a secretive Security Council even less transparent.

The measures were suddenly implemented this week after the council moved to a temporary new space, to allow for a $1.9 billion renovation of the 40-story U.N. secretariat building overlooking New York City’s East River. Unless they get special permission to attend, note-takers from the office of U.N. Secretary General Ban Ki-moon’s spokesman, Martin Nesirky, will no longer be allowed into closed-door consultations. Peacekeeping officials and other departments in the U.N. secretariat will also be shut out due to what U.S. and other diplomats say is limited space in the new chamber. Non-council members suspect other motives.

from Afghan Journal:

Standing by your friends:India, U.S. push ahead with nuclear deal

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OBAMA-INDIA

For all the hand-wringing in India over getting sidelined by the United States in its regional strategy,  the two countries have gone ahead and just completed an important deal on the reprocessing of spent nuclear fuel from reactors to be built in India.

The agreement is a key step in the implementation of the India-U.S.  civil nuclear pact which grants India access to nuclear fuel and technology, even though it has not signed the Non-Proliferation Treaty.  Under the agreement India can reprocess U.S.-originated nuclear material under International Atomic Energy Agency safeguards which in itself is a symbolic concession, according to the Washington Post. It said that the Indians were a bit concerned about the idea of American officials running around their  nuclear reactors , a sort of  "a symbolic, sovereignty issue" as  a source in the U.S. nuclear industry said. They would rather submit to oversight by the IAEA, which thus far is a model the United States has only followed for nuclear collaboration with  Europe and Japan.

from Pakistan: Now or Never?:

Iran’s role in Afghanistan

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ahmadinejadkarzaiIran has been hosting regional leaders, including Afghan President Hamid Karzai, to celebrate the Persian New Year, or Nowruz (a spring festival whose equivalent in Pakistan, incidentally, is frowned upon by its own religious conservatives).

The Nowruz celebrations, which also included the presidents of Iraq, Tajikistan and Turkmenistan, are part of Iran's efforts to build regional ties and followed renewed debate over the kind of role Iran wants to play in Afghanistan. As discussed here, it has also been improving ties with Pakistan, and both countries may have worked together on the arrest last month of Abdolmalik Rigi, leader of the Jundollah rebel group.

from Pakistan: Now or Never?:

General Kayani in Washington; Pakistan’s most powerful man

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kayani profileSo much for democracy. When Pakistan holds a "strategic dialogue" with the United States in Washington this week, there is little doubt that the leading player in the Pakistani delegation will be its army chief, General Ashfaq Kayani.

We have got so used to Americans dealing with the Pakistan Army in their efforts to end the stalemate in Afghanistan that it does not seem that surprising that the meeting between the United States and Pakistan would be dominated by the military. Nor indeed that Dawn columnist Ardeshir Cowasjee would describe Kayani as the most powerful man in Pakistan. Even the grudging admiration granted in this Times of India profile of Kayani by Indrani Baghchi is in keeping with the current mood.

Sniping mars EU image and unity

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Herman Van Rompuy

Herman Van Rompuy

The European Union seems to have developed a habit of shooting itself in the foot.

The latest self-inflicted wound was an attack on Wednesday by a euro-sceptic British member of the European Parliament who dismissed Herman Van Rompuy, the new EU president, as a “damp rag” who had no legitimacy and threatened democracy. 

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