Google's Dissident CyberWoes, Vietnam Edition

♠ Posted by Emmanuel in , at 3/31/2010 11:56:00 PM
What is the deal with Google and authoritarian regimes in Asia concerning dissidents, anyway? This time around, we have intrusions noted on the privacy of those protesting the involvement of Chinese steel producer Chinalco mining bauxite in Vietnam. In this version of events, we are not concerned with Tibetan activists and the like, but with environmental and social concerns (with a side helping of Sinophobia). Especially given the sizeable Vietnamese diaspora arising from the fall of Saigon, this issue has international dimensions. Let us begin with the Google Online Security blog:Perhaps unsurprisingly, these [China incidents] are not the only examples of malicious software being used for political ends. We have gathered information about a separate cyber threat that was less sophisticated but that nonetheless was employed against another community.This particular malware broadly targeted Vietnamese computer users around the world. The malware infected the computers of potentially...
Read More

The Carl Spackler Award for US HH Saving Analysis

♠ Posted by Emmanuel in at 3/30/2010 03:25:00 PM
License to kill gophers by the government of the United Nations. Man, free to kill gophers at will. To kill, you must know your enemy, and in this case my enemy is a varmint. And a varmint will never quit - ever. They're like the Viet Cong - Varmint Cong. So you have to fall back on superior intelligence and superior firepower. And that's all she wrote - Carl SpacklerI usually get exasperated by the America #1-style cheerleaders' infinite faith in the enduring greatness of America despite overwhelming evidence to the contrary paraded here and elsewhere on a regular basis. Recently, however, I came across an enduring, exemplary...
Read More

My Pick for UK Campaign Ad of the Month

♠ Posted by Emmanuel in at 3/30/2010 01:27:00 AM
The deficit-loving Gordon Brown is receiving his comeuppance in the latest Tory advertising. This is, after all, the man behind the golden rule. In America, I think the Republicans will probably try a similar tack in the midterm elections; more so in 2012 by which time the US racks up some unbelievable amount of debt. Still, something the Tories share with their Republican counterparts is an unwillingness to raise taxes as part of the solution. Repeat after me: revenues less spending equals deficit (or, somewhat improbably, surplus).Political marketing aficionados will note that these (punctuation challenged) ads are the first...
Read More

Brazil, India to Scrap Duties for Poorest Nations

♠ Posted by Emmanuel in ,,, at 3/30/2010 12:42:00 AM
In the grand scheme of things, I suppose this initiative doesn't count for much, but it still displays proactivity on the part of two of the BRICs or major developing countries. Brazil and India have always been very active diplomatic players, and this is nowhere more visible than in the trade arena. They are, of course, the leading negotiating countries representing the Global South opposite the US and EU in the WTO Doha round.Now, we receive news of their gesture of goodwill. I am sure you are familiar with the debt forgiveness initiatives for Highly Indebted Poor Countries (HIPC)--see the IMF and World Bank for details. However, since the main dispensers of development aid to these poor countries have typically been industrialized ones, it seems the route Brazil and India have taken is to slash tariffs to zero for a select group of least-developed countries. If I remember correctly, Joseph Stiglitz proposed something similar in Making Globalization Work: a system where wealthier...
Read More

WTO: Trade Will Expand 9.5% This Year

♠ Posted by Emmanuel in , at 3/29/2010 12:24:00 AM
You've got to hand it to WTO Director-General Pascal Lamy and his eternal optimism. From always seeing the completion of the Doha Development Round being around the corner to forecasting a significant rebound of trade this year, he's an upbeat chap. Hence, the WTO is predicting an expansion in global trade volume of 9.5% in 2010 after a contraction of 12.2% in 2009. Almost certainly, we will not go back to pre-crisis trade volumes just yet, but a 9.5% annual increase is nothing to sneeze at, either. The following press blurb is part of a much lengthier feature on how product and service categories and, in turn, trading nations...
Read More

Good Riddance to US-UK "Special Relationship"

♠ Posted by Emmanuel in ,,, at 3/28/2010 09:45:00 AM
We could sail away, or catch a freight train Or a rocketship into outer space Nothin' left to do; too many things were said To ever make it feel like yesterday did...As Motley Crue perhaps unwittingly predicted for Sammy and Vicky, it's don't go away mad, just go away time as far as the famed transatlantic relationship is concerned that has helped shape the modern world in the transition from one hegemon to another. Regular readers won't be surprised when I liken current US-UK ties to an abusive relationship. On the security front, the UK has gone to bat for America time and time again despite continental European powers becoming...
Read More

My Boss On Why West Shouldn't Fear China

♠ Posted by Emmanuel in , at 3/26/2010 01:13:00 PM
It may be a peculiarity of those of us from Eastern cultures that we like the idea of having a boss. Whereas Westerners often disdain being told "do this, do that," we actually like the idea of being answerable to someone who can make things happen for you--if you play your part in the grand scheme of things.And speaking of the grand scheme of things, you do not need to look far to see how activity in the global political economy is shifting to Asia. I have written in great length about how the British government is cutting the bejesus out of university funding. Being smarter than your average social science establishment,...
Read More

Why Greece Breathes a Little Easier

♠ Posted by Emmanuel in at 3/26/2010 01:09:00 PM
One of the irritants the Eurozone has been encountering with the Greek tragicomedy was self-inflicted. For, a measure that has helped Greek banks stay afloat during the credit crisis is an ECB lending window allowing the aforementioned banks to use Greek sovereign debt as collateral in availing of precious euros. Earlier on, ECB President Jean-Claude Trichet announced that this lending windows would become narrower at year-end by only accepting assets rated A-or higher instead of the existing standard of BBB- or higher. The worry was that it was quite possible that Greek sovereign debt would not meet this higher threshold come the holiday season. Ho, ho, ho.Only yesterday, however, the esteemed Mr Trichet did a surprising U-turn and said the European Central Bank would not be doing so, thus helping Greece breathe easier along with just-announced intentions to draw up a formal contingency plan for Greece:The European Central Bank gave Greece unexpected help on Thursday when it...
Read More

PRC Crackdown on Hot Money: RMB Reval Imminent?

♠ Posted by Emmanuel in , at 3/26/2010 12:02:00 AM
I almost forgot to post this one. Basically, you'd expect more inflows of "hot money" into China when speculators believe the revaluation of the Chinese renminbi will occur soon. Do the yuan traffickers know something we don't--perhaps some insider information about the timing of a revaluation to, say, appease America prior to the 15 April Treasury decision? Also factor in those wanting to take advantage of asset price rises in China as well as somewhat higher interest rates in the developing world. Once more, the currency watchdog, the rather amusingly titled State Administration of Foreign Exchange (SAFE), is conducting...
Read More

Yes, People See Through US Treasury AAA Farce

♠ Posted by Emmanuel in , at 3/25/2010 06:10:00 AM
Burger King is not the only American concern that likes to sell Whoppers. Recently, we've asked "Where's the Beef?" with regard to the American Dream and the melting pot and have found both notions quite wanting to say the least. Returning to the realm of sovereign borrowing, let's turn our attention to that chestnut: triple-A "risk free" Treasuries. It seems the infinite appetite America #1-style cheerleaders ascribe to them as evidence of the Enduring Greatness of America is losing its lustre. To start with, the most recent TIC data release indicates that Chinese holdings of this stuff has fallen for a third straight month,...
Read More

Shark Tales: Int'l Institutions Fail Overfishing

♠ Posted by Emmanuel in ,,,, at 3/25/2010 12:10:00 AM
In some ways, I am a reluctant environmentalist. If we lived in a world of infinite fish stocks and immediate replenishment, there would be no problem. However, I must draw the line when overfishing threatens extinction and collective action fails to do anything about it. A few days ago, I discussed how motions to limit overfishing of bluefin tuna--an increasingly affected species as the popularity of sushi and sashimi increase worldwide--failed before the UN Convention on International Trade in Endangered Species (CITES) in the face of Japanese opposition in tandem with source countries like Libya. Now we receive news that...
Read More

US Incarceration Nation Faces Budgetary Pressure

♠ Posted by Emmanuel in at 3/25/2010 12:04:00 AM
He said "I ain't spending my life hereI ain't living aloneAin't breaking no rocks on the chain gangI'm breakin' out and headin' home"Another thing America #1-style cheerleaders need to explain to me and others who believe that it is a shoddy example of how to run a country is its need to throw so many of its own people in jail. For, another thing America is infamous for is having the world's highest incarceration rate. Like the hopeless fraud that is the American dream, it needs some explaining why this "melting pot" is compelled to throw many of its minorities should be behind bars. It's inequality writ large all over again as the "land of opportunity" is more like one big gated community, with jails being the doghouse.Certainly there are profit$$$ to be made throwing an increasing number of the citizenry behind bars especially in private prisons, but, pray tell, what does it do for "labour productivity" and other economistic metrics by reducing the labour force in this manner?...
Read More

Screw Japanese, Try Swiss Forex Intervention!

♠ Posted by Emmanuel in , at 3/24/2010 08:07:00 AM
I am one of those incurable foreign exchange fanatics who watch these movements with no small amount of disdain for their sheer nonsensical gyrations. Today's example is that of the unbelievably oversold euro against Swiss franc or EUR/CHF in trader notation. Before I get to that, it is absolutely inexplicable as to why the euro is dropping in relation to the currency of a country (America) that piles on $221 billion in debt in a single month. Forex commentators offer what are, to my thinking, logic-free arguments. Here is the Eurozone displaying a willingness to hold its members' feet to the fire by suggesting Greece resort...
Read More

Easy Skankin': Airbus Declares WTO Win v Boeing

♠ Posted by Emmanuel in ,, at 3/24/2010 12:08:00 AM
Following on from the previous post on potential EU-US litigation over American procurement of air refuelling tankers, we now move to their older aerospace struggle over commercial jets. The FT has an extensive history of this longstanding trade conflict. Basically, Boeing charges the European Union with providing generous subsidies to the European aerospace consortium. In turn, Airbus charges Boeing with receiving equally fat subsidies from the likes of NASA and Washington state. To make a long story short, both parties filed cases against each other in 2004, with the EU filing one in immediate retribution. For true trade...
Read More

UK Strikefest 2010: Let's Just Shut Britain Down

♠ Posted by Emmanuel in at 3/24/2010 12:01:00 AM
Well, the parallels to the seminal events of 1979 when the "Winter of Discontent" just keep mounting here in Blighty--as if we didn't have enough problems in these lands. Sometime ago, I discussed how rolling postal strikes were causing havoc on the many businesses that relied on timely delivery of parcels. On my usual route to work, I pass the Trade Union Congress (TUC) building. Even if I hadn't read the newspapers prior to embarking on my journey, I can rest assured that some sort of industrial action is imminent when reporters and cameramen are busy mulling outside the TUC. It appears I'm going to see a heckuva lot more...
Read More

EU Hints at Transatlantic Trade War Over Tankers

♠ Posted by Emmanuel in ,, at 3/23/2010 09:26:00 AM
Well, here is proof that it's not just my fervid imagination behind a recent post saying just the same thing. Again, I am utterly befuddled as to why other trade or IPE commentators haven't paid more attention to this issue as big, big money is at stake alongside transatlantic trade relations. Just yesterday, I attended an LSE talk where new EU Trade Commissioner Karel de Gucht spoke about evolutions in EU trade policy. While not talking directly about the lost opportunity of supplying the US Air Force with tens of billions' worth of air refuelling tankers, de Gucht made many allusions as to how the trade climate is affected...
Read More

Google China Still Censored, Blamed for Reneging

♠ Posted by Emmanuel in , at 3/23/2010 08:57:00 AM
So what has Google accomplished with its semi-audacious stunt of "uncensoring" search results in mainland China? Out of curiosity, I've asked some friends in China if they've experienced any changes there and they say "not really." Agence-France Presse has similar impressions regarding search results:Chinese access to websites covering sensitive topics such as Tibet have remained blocked despite an announcement from Google that it had stopped censoring its Chinese-language search engine. The web giant announced today that it had stopped filtering results on China-based Google.cn and was redirecting mainland Chinese users to an uncensored site in Hong Kong - effectively closing down the mainland site.Searches of subjects like "Falun Gong" and "June 4" on Tuesday - referring to the Tiananmen pro-democracy protests in 1989 - from mainland computers ended with the message: "Internet Explorer cannot display the web page". Even when a list of results came up for other sensitive key...
Read More

Geez, Even Reaganites Want to Bash China

♠ Posted by Emmanuel in , at 3/23/2010 12:13:00 AM
It may be a sign of the times when old Reagan administration hands anxiously await their turn to cast stones at China. To be sure, Reagan wasn't as much a pro-trade stalwart as many remember him to be. Still, by current standards, Obamanite dithering on trade contrasts sharply with the Reaganite example. I thus read with great interest Robert Lighthizer pillorying both the WTO Doha Development Agenda and China for not granting, get this, enough concessions to make a deal "good enough" for American interests. Since when did the world's most powerful nation start grovelling about the unfairness of the trading system it created? The larger answer, of course, is "lost hegemony," but I will save that for another time.Whatever happened to good ol' "comparative advantage"? I honestly can't tell this Republican from your standard-issue Democrat when it comes to trade. Here are the main points from Lighthizer's NYT op-ed:As trade ministers have chattered on for nearly a decade, the world...
Read More