History of Nanjing Massacre
Share This
Friday, 14 December 2012
Thursday, 13 December 2012
End of Pax Americana
The report "Global Trends 2030: Alternative Worlds" forecast that US economic and international influence will decline in the next two decades as a shift of global power moves from the West to the East, and from the North to the South. Photo by gt2030.com
In a new report, the US National Intelligence Council predicts the winding down of "Pax Americana" and China's ascent as the world's top economy by 2030.
On Monday, the report "Global Trends 2030: Alternative Worlds" forecast that US economic and international influence will decline in the next two decades as a shift of global power moves from the West to the East, and from the North to the South.
Meanwhile, rising states such as China, India and other Asian nations will contribute an increasingly large share of global financial growth.
"With the rapid rise of other countries, the 'unipolar moment' is over, and 'Pax Americana' -- the era of American ascendancy in international politics that began in 1945 -- is fast winding down," the report states.
The report is largely optimistic about technological and economic advances in the next two decades. The numbers of people living in poverty is likely to drop sharply in East and South Asia, the Middle East and North Africa, with sub-Saharan Africa lagging behind.
"Under most scenarios -- except the most dire -- significant strides in reducing extreme poverty will be achieved by 2030," the report notes.
The report gives a list of eight "Black Swan" scenarios - a reference to Nassim Nicholas Taleb's book "Black Swan," which posits that history is built on unforeseeable, surprise events.
1. Severe Pandemic
"No one can predict which pathogen will be the next to start spreading to humans, or when or where such a development will occur," the report says. "Such an outbreak could result in millions of people suffering and dying in every corner of the world in less than six months."
2. Much More Rapid Climate Change
"Dramatic and unforeseen changes already are occurring at a faster rate than expected. Most scientists are not confident of being able to predict such events. Rapid changes in precipitation patterns—such as monsoons in India and the rest of Asia -- could sharply disrupt that region's ability to feed its population."
3. Euro/EU collapse
If Greece were to leave the euro zone in an unruly way, it could result in eight times the collateral damage as the Lehman Brothers bankruptcy, which could lead to a broader crisis in the EU in the future, the report says.
4. A Democratic or Collapsed China
"China is slated to pass the threshold of US,000 per capita purchasing power parity (PPP) in the next five years or so—a level that is often a trigger for democratization," the report notes. "Chinese 'soft' power could be dramatically boosted, setting off a wave of democratic movements. Alternatively, many experts believe a democratic China could also become more nationalistic. An economically collapsed China would trigger political unrest and shock the global economy."
5. A Reformed Iran
"A more liberal regime could come under growing public pressure to end the international sanctions and negotiate an end to Iran's isolation. An Iran that dropped its nuclear weapons aspirations and became focused on economic modernization would bolster the chances for a more stable Middle East."
6. Nuclear War or WMD/ Cyber Attack
"Nuclear powers such as Russia and Pakistan and potential aspirants such as Iran and North Korea see nuclear weapons as compensation for other political and security weaknesses, heightening the risk of their use. The chance of nonstate actors conducting a cyber attack—or using WMD (weapon of mass destruction) —also is increasing."
7. Solar Geomagnetic Storms
"Solar geomagnetic storms could knock out satellites, the electric grid, and many sensitive electronic devices. The recurrence intervals of crippling solar geomagnetic storms, which are less than a century, now pose a substantial threat because of the world's dependence on electricity," the report says.
8. U.S. Disengagement
"A collapse or sudden retreat of US power probably would result in an extended period of global anarchy; no leading power would be likely to replace the United States as guarantor of the international order."
Related post:
Funding a foreign agenda
Labels:
Asia,
Business and Economy,
History,
National Intelligence Council,
NIC,
Politics,
USA
North Korea confirms successful satellite launch
Official media of the Democratic People's Republic of Korea (DPRK) on Wednesday confirmed that the country successfully launched and orbited an earth observation satellite.
"The successful launch of the satellite is a proud fruition of the Workers' Party of Korea's policy of attaching importance to science and technology," said news agency KCNA.
The success serves "as an event of great turn in developing the country's science, technology and economy by fully exercising its independent right to use space for peaceful purposes," it added.
According to the KCNA, a Unha-3 rocket carrying the second version of the Kwangmyongsong-3 satellite blasted off from the Sohae Space Center in Cholsan County, North Phyongan Province, at 09:49:46 local time (0049 GMT).
The satellite, said the KCNA, entered its preset orbit 9 minutes and 27 seconds after the lift-off, and then started going round the polar orbit at 499.7 km perigee altitude and 584.18 km apogee altitude at the angle of inclination of 97.4 degrees, with a cycle of 95 minutes and 29 seconds.
This year marks the 100th anniversary of the birth of late President Kim Il Sung, and this month marks the first anniversary of the demise of late leader Kim Jong Il.
Int'l Reactions
China "regrets" DPRK's satellite launch China regrets the Democratic People's Republic of Korea's (DPRK) satellite launch amid the "universal" concern of the international community, a Foreign Ministry spokesman said on Wednesday. |
|
White House reacts to DPRK launch White House spokesman Tommy Vietor says US condemns the launch as a "highly provocative act" in direct violation of UN resolutions and vows to work with international partners to seek "appropriate action" against Pyongyang. |
|
Russia voices regret over DPRK's rocket launch Russia on Wednesday expressed "deep regret" over the rocket launch by DPRK, saying the move violated a UN Security Council resolution. |
|
S.Korea's Lee convene security meeting following DPRK's rocket launch South Korea strongly condemned North Korea’s rocket launch, saying that it violated a UN resolution and sent Aegis destroyers to trace the rocket. |
|
Japan strongly protests against DPRK's satellite launch Japan on Wednesday strongly protested against a satellite launch by DPRK, saying the launch was "unacceptable" and violates the United Nations' relative resolutions. |
|
Philippines "strongly condemns" DPRK rocket launching The Philippine government on Wednesday "strongly condemns" DPRK's rocket launching, saying that it violated an UN resolution. |
|
New Zealand condemns DPRK satellite launch The New Zealand government Wednesday condemned the launch of a satellite using long-range ballistic missile technology by DPRK. |
Latest News
Russia voices regret over DPRK's rocket launch |
Russia on Wednesday expressed "deep regret" over the rocket launch by the Democratic People's Republic of Korea (DPRK), saying the move violated a UN Security Council resolution. |
DPRK succeeds in satellite launch, draws protests |
The Democratic People's Republic of Korea (DPRK) on Wednesday successfully launched and orbited a satellite, the official news agency KCNA reported. |
S&P says DPRK rocket launch has no material impact on S. Korea's sovereign ratings |
The rocket launch of the Democratic People's Republic of Korea (DPRK) will have no material impact on South Korea's sovereign ratings, global credit rating agency Standard & Poor's said Wednesday. |
DPRK's rocket launch has little impact on S. Korean financial market |
The planned long-range rocket launch of the Democratic People's Republic of Korea (DPRK) had little impact on the South Korean financial market as the launch was pre- announced, market watchers said Wednesday. |
DPRK confirms successful satellite launch |
The Democratic People's Republic of Korea (DPRK) on Wednesday successfully launched a Kwangmyongsong-3 satellite, the official news agency KCNA reported. . |
No debris fell into Japan's territory: Japan's govt |
The Japanese government said Wednesday that no debris fell into Japan's territory after a rocket launch by the Democratic People's Republic of Korea (DPRK). |
DPRK launches long-range rocket, first stage falls into Yellow Sea: report |
The Democratic People's Republic of Korea (DPRK) fired off a long-range rocket mounted with a satellite Wednesday, defying expectations that technical problems might delay the mission that drew international attention. |
Wednesday, 12 December 2012
HSBC Bank fined $1.92 billion for money laundering
British banking giant HSBC agreed to pay a record $1.92 billion settlement Tuesday after a broad investigation by U.S. federal and state authorities found the bank violated federal laws by laundering money from Mexican drug trafficking and processing banned transactions on behalf of Iran, Libya, Sudan and Burma
HSBC has agreed to pay $1.92 billion to settle a US money laundering probe. The British bank is alleged to have allowed clients with links to drug trafficking and terrorism to move money.
The two sides reached a $1.92 billion (1.48 billion euros) settlement Tuesday, HSBC said.
"HSBC has reached an agreement with the United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanction laws," the bank said in a statement.
The settlement includes a five-year deferred prosecution agreement with the US Justice Department, which allows a subject under investigation to avoid prosecution if it meets conditions, such as paying fines.
Prosecutors had accused HSBC of allowing improper financial transfers from countries including Mexico, Iran and Saudi Arabia by clients linked to international crime, including drug trafficking and terrorism.
The bank apologized soon after, and acknowledged the firm lacked controls to prevent money laundering.
'Profoundly sorry'
"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again," said group chief executive Stuart Gulliver in a statement.
"We are committed to protecting the integrity of the global financial system. To this end we will continue to work closely with governments and regulators around the world," Gulliver said.
HSBC's announcement comes one day after another British bank, Standard Chartered, agreed to pay some $327 million (253 million euros) to settle charges it violated US sanctions by channelling money to clients in Iran and Sudan.
dr/msh (AFP, dpa, AP)
Related:
Citigroup to sack more than 11,000 jobs
"HSBC has reached an agreement with the United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanction laws," the bank said in a statement.
The settlement includes a five-year deferred prosecution agreement with the US Justice Department, which allows a subject under investigation to avoid prosecution if it meets conditions, such as paying fines.
Prosecutors had accused HSBC of allowing improper financial transfers from countries including Mexico, Iran and Saudi Arabia by clients linked to international crime, including drug trafficking and terrorism.
The bank apologized soon after, and acknowledged the firm lacked controls to prevent money laundering.
'Profoundly sorry'
"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again," said group chief executive Stuart Gulliver in a statement.
"We are committed to protecting the integrity of the global financial system. To this end we will continue to work closely with governments and regulators around the world," Gulliver said.
HSBC's announcement comes one day after another British bank, Standard Chartered, agreed to pay some $327 million (253 million euros) to settle charges it violated US sanctions by channelling money to clients in Iran and Sudan.
dr/msh (AFP, dpa, AP)
Related:
Citigroup to sack more than 11,000 jobs
Labels:
Asia Pacific,
Banking,
Business and Economy,
HSBC,
Money and finance,
Politics,
UK,
USA
Tuesday, 11 December 2012
Philippines wants rearmed Japan to contain China
The Philippines said
Monday that it supports Japan dropping its pacifist constitution and
acting as a balance against China, while experts say that Manila and
Tokyo will join forces more closely on South China Sea issues.
In an interview with the Financial Times, Foreign Secretary Albert del Rosario said the Philippines would strongly support a rearmed Japan as a counterweight to "Chinese provocation."
Also on Monday, Chinese foreign ministry spokesman Hong Lei said at a regular press briefing that "China hopes the concerned parties on the South China Sea issue take regional peace and stability as a priority and generate more efforts to increase mutual trust and cooperation."
Hong's remarks came after a Philippines-proposed meeting among four Southeast Asian claimants to the South China Sea for this month in Manila was postponed.
Manila's support for Tokyo to rearm comes shortly before a general election in Japan, where the front-runner, opposition leader Shinzo Abe, has said he wants to revise the country's pacifist constitution, imposed by the US after the war.
"Albert del Rosario's view reflects Manila's strategy. The Philippines could not rally support among Southeast Asian countries and is turning to Japan, which shares a common interest with the Philippines on maritime disputes against China," Zhuang Guotu, head of the Center for Southeast Asian Studies at Xiamen University, told the Global Times.
"No matter who wins the general election in Japan, Tokyo and Manila will cooperate more closely to act against Beijing's territorial claims," Zhuang said, adding that the Philippines needs Japan to upgrade its maritime forces.
In 2014, the Philippine Coast Guard will receive 12 patrol boats from Japan, the Philippine Daily Inquirer reported on November 25. Both Manila and Tokyo have been involved in severe territorial disputes with Beijing this year.
By Xu Tianran
AFP contributed to this story
In an interview with the Financial Times, Foreign Secretary Albert del Rosario said the Philippines would strongly support a rearmed Japan as a counterweight to "Chinese provocation."
Also on Monday, Chinese foreign ministry spokesman Hong Lei said at a regular press briefing that "China hopes the concerned parties on the South China Sea issue take regional peace and stability as a priority and generate more efforts to increase mutual trust and cooperation."
Hong's remarks came after a Philippines-proposed meeting among four Southeast Asian claimants to the South China Sea for this month in Manila was postponed.
Manila's support for Tokyo to rearm comes shortly before a general election in Japan, where the front-runner, opposition leader Shinzo Abe, has said he wants to revise the country's pacifist constitution, imposed by the US after the war.
"Albert del Rosario's view reflects Manila's strategy. The Philippines could not rally support among Southeast Asian countries and is turning to Japan, which shares a common interest with the Philippines on maritime disputes against China," Zhuang Guotu, head of the Center for Southeast Asian Studies at Xiamen University, told the Global Times.
"No matter who wins the general election in Japan, Tokyo and Manila will cooperate more closely to act against Beijing's territorial claims," Zhuang said, adding that the Philippines needs Japan to upgrade its maritime forces.
In 2014, the Philippine Coast Guard will receive 12 patrol boats from Japan, the Philippine Daily Inquirer reported on November 25. Both Manila and Tokyo have been involved in severe territorial disputes with Beijing this year.
By Xu Tianran
AFP contributed to this story
Labels:
China,
Japan,
Philippines,
Politics,
South China Sea,
USA
Subscribe to:
Posts (Atom)