asia

The Second Shockwave

While the economic contraction is apparently slowing in the advanced industrial countries and may reach bottom in the not-too-distant future, it’s only beginning to gain momentum in the developing world, which was spared the earliest effects of the global meltdown. Because the crisis was largely precipitated by a collapse of the housing market in the United States and the resulting disintegration of financial products derived from the “securitization” of questionable mortgages, most developing nations were unaffected by the early stages of the meltdown, for the simple reason that they possessed few such assets.

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Dropping Musharraf?

There is a whiff of “regime change” in the air these days, but not where you might expect it. Not in Iraq, where the conservative U.S.-backed Shiites are already in power. Not in Iran, where White House threats have served to unite, rather than divide, that country. But in Pakistan, where President Pervez Musharraf has recently fallen out of U.S. favor.

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Natural or Public Health Disaster?

The recent South Asian tsunami’s devastation has already claimed at least 144,000 lives, caused countless injuries and wiped out entire villages. Concern now turns to the escalating death count caused by the spread of disease.

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A Fig Leaf to Cover Occupation

The U.S.-driven UN resolution passed by the Security Council provides only an internationalist fig-leaf for Washington’s occupation; the occupation remains illegal and in violation of the UN Charter. The new resolution does nothing to change the fundamental problems of the U.S. occupation of Iraq–its illegitimacy, its unilateralism, and its responsibility for so much destruction in Iraq and for the on-going crisis of violence in the country.

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A New Beginning for WTO After Cancun

Forget the spin you have been reading about the “failure” of the World Trade Organization meeting in Cancun. It was one of the most successful international meetings in years because it redefined how trade can benefit the poor and how the developing world can be real players in these negotiations. In fact, if policymakers and global trade negotiators were paying attention, Cancun could lead to trade talks that actually bring about fair trade, and the benefits to both the developing and the developed world that have long been promised.

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A Story of Two Speeches: Kofi Annan and George W. Bush

Kofi Annan’s speech to the United Nations General Assembly was indeed a strong and incisive condemnation of unilateralism–and thus of the current U.S. administration and its hangers on. But in their eagerness to applaud the temerity of the Secretary General in twitching the eagle’s tail, some observers may miss the rest of his message: which is that despite its abuse by Bush and Blair, the United Nations Security Council must come to terms with the need for humanitarian intervention, and, moving some small but measured way toward the concerns of countries that feel themselves to be “uniquely vulnerable.”

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