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Energized
Iran builds more bridges
In terms of whom it conducts its energy business with, Iran keeps all its
options open, and it will not allow itself to be pushed out of the European
market as exports are the bridge that will facilitate its all-round integration
with the Western world. Tehran's hectic diplomatic activity in this regard has
put the "Iran Six" countries dealing with its nuclear dossier on the defensive:
none of them wants confrontation with Iran. - M K Bhadrakumar
(May 5, '08) |
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CAMPAIGN OUTSIDER
Democrats do have a nominee
No matter who wins this Tuesday's votes in Indiana and North Carolina, the
Democratic US presidential nomination remains a foregone conclusion. But it may
be a different foregone conclusion than the one of two weeks ago. - Muhammad
Cohen (May 5, '08)
 SPENGLER
The heart has its own unreason
In one of the weirder acts of recent diplomacy, a delegation of robed and
turbaned Iranian mullahs went to Rome to declare with due solemnity they shared
the pope's view that reason and faith are compatible. The issue,
however, will not be decided by the Iranian clergy or the Holy See,
but by people such as journalist Magdi Allam. - Spengler
(May 5, '08)
DISPATCHES FROM AMERICA
The last war and the next one
There is no end in sight to the war in Iraq, but United States Secretary of
Defense Robert Gates has been criticizing the military for not getting fully
behind an imperial strategy for "the next war", counterinsurgency battles
across the globe similar to the (futile) one now raging in Sadr City in Bagdad.
- Tom Engelhardt (May 5, '08)
South Korean beef overcooked
Young South Koreans are taking to the streets in their thousands in protest
against the lifting of a ban on beef imported from the United States. Their
broader aim is to scuttle a free trade agreement with the US, but their actions
could have serious repercussions all the way to North Korea. - Donald Kirk
(May 5, '08)
S Korea to resume US beef imports (AFP)
The politics of cluster bombs
A proposed new treaty is calling for a comprehensive ban on cluster munitions,
but some of the world's most powerful militaries, including the US, Russia,
China, India and Pakistan, remain firmly outside the process. If the ban passes
this month in Dublin, signatories will be barred from conducting joint
operations with militaries that use the bombs - an issue already causing
problems for NATO forces in Afghanistan. - Brian McCartan
(May 5, '08)
How under-the-gun Iran plays it
cool
What Iranian leaders dream of is an Iran respected as a major power. To this
end, they have little choice, faced with the enmity of the globe's "sole
superpower", but to employ a sophisticated counter-encirclement foreign policy.
And given President Mahmud Ahmadinejad's place in the country's
politico-religious politics, he might be betting on the usefulness of an
American air assault. - Pepe Escobar (May 2, '08)
Iran moving into the big league
From the Persian Gulf to the Caspian region, the Caucasus, Central Asia, South
Asia and beyond, Iran thanks to its geographical location is an ideal
connecting bridge that has not until now fully exploited its advantageous
equidistance from India and Europe. This is exemplified in the US$7.6 billion
gas pipeline that will flow from Iran to Pakistan to India, and which is
finally close to reality. Tehran is ambitiously moving from regional power to
global power. - Kaveh L Afrasiabi (May 2, '08)
 CHAN
AKYA
Abandoning
USS Titanic
As the world comes to grips with declining United
States power both in political and economic terms, it is surreal that global
media appear so keen to paper over the cracks. But with even the corrupt and
unctuous Gulf dictators rebelling against the US dollar, this is the beginning
of the end. (May 2, '08)
Taliban claim victory from a
defeat
In their first offensive since arriving last month, thousands of US Marines
have captured the town of Garmsir in the southern Afghan province of Helmand
from the Taliban. The Taliban are unconcerned. They claim the mass of foreign
troops will now be tied down chasing shadows and battling drug cartels, while
the Taliban concentrate on the east of the country. - Syed Saleem Shahzad
(May 2, '08)
China runs at its own pace
As part of the original understanding that brought the Olympics to Beijing, the
Chinese government promised democratic reforms and human-rights
improvements. Seven years later, it is fair to say the pledge has not met
Western expectations, but that does not mean there have not been reforms in
China's "own way". - Fong Tak-ho (May 2, '08)
BOOK REVIEW
America's university of
imperialism
Soldiers of Reason by Alex Abella
The RAND Corporation was the Cold War granddaddy think-tank of them all, one of
the most unusual private organizations in the field of international relations,
and it's still with us. It helped administrations plan and fight the Vietnam
War, turning theory into an all-too-grim reality. Yet its record of advice on
cardinal policies involving war and peace, arms races and decisions to resort
to armed force has been abysmal. - Chalmers Johnson (May
2, '08)
THE MOGAMBO GURU
Funny numbers are no joke
There's something funny happening to the money that the US Federal Reserve
actually has under its direct control. It is not just that a bigger and bigger
chunk of this is going overseas. One set of figures has the country's monetary
base rising steadily over the years, which at least is positive. Other data
show it actually falling. That's a reason to press the panic button.
(May 2, '08)
 ASIA
HAND
What's eating Thai Tesco?
British-based superstore operator Tesco has notched up remarkable growth in
Thailand, where shoppers appreciate the clean and air-conditioned environment
of its outlets along with the low prices. With success comes enemies, some
armed, and government legislation that could curb growth. Now the company is
fighting back in the courts, risking even more local wrath. - Shawn W Crispin
(May 2, '08)
Bernanke takes one more gamble
 United
States Federal Reserve chairman Ben Bernanke's decision to cut key interest
rates one more time was always in the cards. More astonishing was the scant
concern he showed towards the inflationary risks inherent in his actions over
the past few months, risks that food riots make clear are already a harsh
reality in the world beyond the US. - Julian Delasantellis
(May 1, '08)
Economy takes US center stage
A major new survey finds that oil prices and other economic issues are edging
out foreign policy concerns on the US public's worry list. Seventy percent of
respondents say they worry "a lot" about soaring energy costs, and the survey's
aptly named "Anxiety Indicator" shows that 84% worry about the way things are
going for the US. - Jim Lobe (May 1, '08)
The heat is on Muqtada
The fierce battle raging in Baghdad's Sadr City between Muqtada al-Sadr's Mahdi
Army and United States and Iraqi forces has claimed more than 1,000 lives over
the past few weeks. What is not clear is the motive behind the offensive
against the Shi'ite militia. It could be the Americans, trying to nip in the
bud any united front between Muqtada and Sunnis. Or the Iranians, wanting to
eliminate a potential thorn in their side. Either way, Muqtada has a fight on
his hands. - Sami Moubayed (May 1, '08)
Al-Qaeda searches for
unity in Iraq
A series of messages from al-Qaeda deputy Ayman al-Zawahiri and its chief in
Iraq, Abu Hamza al-Mujahir, indicates al-Qaeda is pulling out all the stops to
try to prevent the Sunni Iraqi mujahideen from militarily winning the war but
then losing the political spoils because of disunity. - Michael Scheuer
(May 1, '08)
China's pride versus Western prejudice
The Chinese government did not expect the Olympic Games to be politicized to
the extent they have been and the result is a big loss for Beijing. It has also
damaged the image of China's "harmonious society" and prompted a new wave of
Chinese nationalism. Many Chinese now feel, for the first time in many years,
antagonized by Western ideology. - Da Wei (May 1,
'08)
The twilight of
irredeemable debt
Debts used to be considered obligations and issuance of irredeemable debt a
crude form of fraud. This is now ignored by courts and academics alike.
But banks will eventually learn there is no way to rid the system of poisonous
bad debt by creating more. - Antal E Fekete (May 1,
'08)
Push comes to shove in Afghanistan
In his latest assessment, US President George W Bush admits it's going to be a
"long struggle" in Afghanistan (this after seven years of fighting the
Taliban). US Marines, fresh in the country, are venturing into uncharted
territory, while more coalition troops are being deployed. For the Taliban,
having made space for themselves in their strategic backyard in Pakistan
through dubious peace deals, a new battle has now begun. - Syed Saleem Shahzad
(Apr 30, '08)
THE BEAR'S LAIR
Oil in 2012: $200 or $50?
The US broad money supply by one measure has increased at an annual rate above
30% for most of this year. Maintained, that could triple prices within four
years and oil would look moderate at US$200 a barrel, with gold hitting $2,000.
Good sense by the US Fed and politicians might save the day, or a full-scale
revolt by bond dealers. - Martin Hutchinson (Apr
29, '08)
 SUN
WUKONG
Moving
markets and mountains
The new overseer of China's financial affairs was barely in
office before polishing his "Mr Fix It" reputation by turning around the
plummeting stock markets. Curbs on refinancing by listed companies are expected
to be Wang Qishan's next mountain-moving stroke. All very impressive - but his
is still a visible hand that would be better not seen. - Wu Zhong
(Apr 29, '08)
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Speculators
knock OPEC off price perch
 The
bulk of price gains in oil is attributable not to supply problems but to
speculative activity by hedge funds and others with no direct use for the fuel
beyond profiting from its changing value. The door to much of this unregulated
trade was opened by the US energy futures regulator under the George W Bush
administration. - F William Engdahl
Just blame it on
China and India
US President George W Bush's blaming China and India for global warming
and food shortages shows that the rise of these two countries is a problem for
Washington. Besides, the real blame can be placed on Western
over-consumption and exploitation of resources. - Sreeram Chaulia
China faces trade war climate
challenge
China's growing economy has brought the country to the center of the debate on
curbing greenhouse gas emissions. Its reaction to moves by the US Congress to
tax imports from other major greenhouse gas emitters could prove crucial in
determining the most effective means of forcing international action on global
warming. |
CREDIT BUBBLE BULLETIN
More than one step backwards
American economist Hyman Minsky warned a decade ago that evolution in the
financial world is not necessarily a progressive process. Since that insight, a
whole new financial structure appears to have evolved, one that is definitely
retrograde with its need for ever-expanding non-productive debt.
Doug Noland reviews the previous week's events each Monday.
Food crisis gatecrashes ADB
As food prices soar to unprecedented highs, the Asian Development Bank at the
weekend outlined its vision for eradicating poverty in the region. Yet after 40
years of being the premier lender of development cash in the Asia-Pacific, the
bank had a solitary paragraph about agriculture in the document outlining its
goals.
Gold price suppression scheme
How long the present relatively low price of gold will stay that way may depend
on whether the US Federal Reserve has sold half the country's gold and if it is
prepared to stop at half. At least that would give us the opportunity to buy
more gold cheaply for a while longer yet.
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MARKET RAP
Pacific remains
pacified
Traders taking a break from their labors in Asia could do so reasonably
satisfied with unfolding events. Once heady share-price declines appear to be
halted with prospects of strengthening markets ahead. That apparent local
stability may be welcome if the sense of panic returns to Wall Street.
(May 2, '08)
R M Cutler runs his eye over the ups and downs in the week's markets
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[Re Al-Qaeda
searches for unity in Iraq, May 2] ... Clearly, the only option is for
Iran and the US to form a strategic partnership in order to bring al-Qaeda's
divisive influence in Iraq to an end. Such a partnership would also address the
crises in Syria, Lebanon and the Palestinian territories ...
Reverend Dr Vincent Zankin
Canberra
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| Go
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
(Dec '06)
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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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website is copyright and may not be republished in any form without written
permission.
Copyright 1999 - 2008 Asia Times Online
(Holdings), Ltd.
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