Political and Economical Issues in Asia - Essay Example

Economical and Political Issues- Asia (Feb. 10, 2007 - April 28, 2007) 1 The menace of terrorism has overshadowed all other issues in Asian region during the past three months. However various other political and economical issues also figured in the highlights. Not withstanding to this the boom in economy of India and China is a matter deserved its place in the screen. The major political and economical issues occurred during the past 3 months i.e. February 10, 2007 to April 28, 2007 has chronologically given . POLITICAL ISSUES AND EVENTS February 11, 2007: General David Petraeus takes command of the United States forces in Iraq. The U.S. military accuses the government of Iran of supplying sophisticated roadside bombs to insurgents in Iraq. Iran President Mahmoud Ahmadinejad has dismissed calls by Western countries for Iran to suspend its nuclear program.He said country will make announcement in April about new nuclear achievements. Voters in Turkmenistan vote in their first presidential election to select a successor to former President of Turkmenistan Saparmurat Niyazov Rakhat Aliyev, son-in-law of Kazakh President Nursultan Nazarbayev and First Vice Foreign Minister, is demoted to ambassador to Austria for the second time amid accusations he stole money from Nurbank bank and alleged involvement in the kidnapping and murdering of two Nurbank officials executives. February 12, 2007 Iraq's High Tribunal sentences former Vice President Taha Yassin Ramadan to death for his role in the 1982 killing of 148 men and boys in Dujail following an unsuccessful assassination attempt against Saddam Hussein. At least 76 people are killed in four bomb attacks in Baghdad. Three explosions in quick succession at the Shorja market killed at least 71 people and wounded about 164. February 13, 2007 Aboud Gambar announces that Iraq is closing its borders with Syria and Iran for 72 hours in an attempt to secure the capital. 2 Japan holds an international conference to push for the resumption of commercial whaling. Anti-whaling nations in the International Whaling Commission such as the United States, United Kingdom and Australia have boycotted the conference. February 14, 2007 U.S. military spokesman Maj. Gen. William Caldwell announces that Muqtada Al Sadr fled Iraq several weeks ago and is in Iran. White House Press Secretary Tony Snow confirmed that the White House believes Iran is equipping Shia insurgents in Iraq. The U.S. House of Representatives debates the proposed non-binding resolution to oppose President Bush's surge plan. The foreign ministers of India, China and Russia have met in the Indian capital, Delhi, to discuss terrorism, drug trafficking and Afghanistan. An Indian foreign ministry statement said the meeting discussed key global issues, including the importance of the United Nations. February 15, 2007 Hamas- The led Palestinian government has resigned after 11 months in office to make way for a government of national unity. South Korea has agreed to resume high-level talks with North Korea that could restart major aid shipments, despite calls for caution over an international deal on the North's nuclear programs. Justice Minister Chris Ellison has warned anti-whaling protesters and the Japanese whaling fleet they could face questioning if they dock in Australia after clashing in the Southern Ocean. February 16, 2007 The G8 countries, plus Brazil, China, India, Mexico and South Africa, approve the 'Washington Declaration,' proposing a global Carbon emissions trading system to replace the Kyoto Protocol by 2009. A Turkish court has handed down life sentences to seven Al Qaeda associates for their involvement in deadly suicide bombings against Jewish and British targets in Istanbul in 2003. Afghan President Hamid Karzai is to meet Italian PM Romano Prodi to discuss the fight against militant groups and drug traffickers in his country. 3 February 18, 2007 Bangladeshi Nobel Peace Prize winner Mohammad Yunus announces the name of the party he wants to found; it is to be called Citizens' Power. 28 bombs explode in southern Thailand, killing three and injuring 50. Militants burn two public schools and shoot three people during the South Thailand insurgency. The US and Israel will not work with a new Palestinian unity government unless it recognizes Israel, Prime Minister Ehud Olmert has said. Mr Olmert said a Palestinian government that failed to accept conditions laid down by the quartet of the US, EU, Russia and UN "cannot receive recognition and there will not be co-operation with it". February 19, 2007 The Commission of Truth and Friendship was set up to investigate the violence which surrounded East Timor's vote for independence from Indonesia in 1999. February 20, 2007 US Vice-President Dick Cheney has held talks with Japanese leaders that focused on the North Korean nuclear issue and the Iraq war. February 21, 2007 Iran has ignored a United Nations (UN) Security Council deadline for it to suspend its nuclear program. February 23, 2007 The US and South Korea have reached a deal to hand full control of South Korea's military back to Seoul by 2012. The agreement ends a 50-year pact that gave the US wartime command of South Korea's army, dating to the Korean War. Democratic Party members of the United States Senate are planning a challenge to the authority given to President Bush in 2002 February 25, 2007 Ministers from Egypt, Indonesia, Jordan, Malaysia, Saudi Arabia, Turkey and Pakistan, as well as Turkey's Ekmeleddin Ihsanoglu, the secretary general of the Organization of the Islamic Conference, a 57-member bloc of Islamic states, held a meeting Islamabad, Pakistan to discuss resolution of the Palestinian problem and the stand-off over Iran's nuclear program. February 26, 2007 The Daily Telegraph reports that Israel is negotiating with the United States for an air corridor over Iraq to carry out an air strike on Iranian nuclear facilities. Israeli Deputy Defense Minister Ephraim Sneh calls the information "baseless." 4 February 27, 2007 South Korea has urged North Korea to quickly implement its pledges under a recently-agreed nuclear deal as the two met for high-level talks in Pyongyang. North Korea in turn called for the resumption of humanitarian projects and greater economic ties with the South February 28, 2007 The Sri Lankan navy battled a flotilla of Tamil Tiger boats and at least 15 rebels were believed killed as they attempted to infiltrate a strategic port in the northeast, . About 14 vessels carrying fighters from the Liberation Tigers of Tamil Eelam were attempting to enter the Trincomalee port - home to a major military base - when the navy intercepted and engaged them late Tuesday. March 1, 2007 The battle to get Ottavio Quattrocchi to face the courts in India for his role in the Bofors scandal has begun in Buenos Aires. March 5, 2007 The United States and North Korea commence talks in New York City to establish diplomatic relations following the abandonment of the North Korean nuclear weapons program. March 6, 2007 India and Pakistan have issued a joint statement after the first meeting of an anti-terrorism panel. March 6, 2007 War in Afghanistan (2001-present): NATO-led forces launch Operation Achilles against the Taliban in Helmand province. March 7, 2007 The Mauritius president has threatened to leave the Commonwealth in protest at the UK's "barbarous" treatment of the people of the Chagos Islands. The Chagos Islands, a British colony in the Indian Ocean, were leased to the US in the 1960s to build a military base. The residents were forced out, and the government says they cannot return, but have been granted UK citizenship. Many of the residents now live in poverty in Mauritius, or as refugees in the UK. Many have fought for the right to return to the islands, or for more help to improve their living standards in the UK. March 8, 2007 5 Thousands of civilians have fled their homes in eastern Sri Lanka because of heavy fighting between government troops and Tamil Tiger rebels. March 9, 2007 Pakistan's President Gen Pervez Musharraf has fired the Islamic nation's Chief Justice for "misconduct and misuse of authority", he President has taken the action after numerous complaints and having personally heard the Chief Justice. He has acted under the constitutional requirement March 9, 2007 Nepal's parliament has altered the constitution to change the country from a unitary state into a federal one. The amendment was passed overwhelmingly, by 278 votes to five. The amendment will also increase the number of constituencies in the troubled southern plains so that for the first time this region, with half the country's population, will have half its parliamentary seats. March 13, 2007 The prime ministers of Japan and Australia have signed a security pact designed to enhance military co-operation between the two nations. the pact would help to stabilize the region. It includes co-operation on border security, counter-terrorism and disaster relief. March 1, 2007 China's parliament has wrapped up its annual session, passing a landmark law to increase private property rights. It also approved a bill ending preferential tax treatment for foreign firms, setting a standard rate of 25%. March 17, 2007 PALESTINIAN lawmakers have formally endorsed a new unity cabinet after Prime Minister Ismail Haniyeh of the Islamist Hamas movement declared that it would uphold the right to "all forms" of resistance. March 19, 2007 The six-nation forum on North Korea meets today to assess progress on last month's agreement to end the communist nation's nuclear weapons program, as envoys said they are settling a dispute over U.S. financial sanctions. Six-party talks resume to discuss progress in implementing last month's agreement, with North Korea and the United States having resolved an issue about North Korean funds frozen in a Macau bank. March 21, 2007 6 Supreme Leader of Iran Ayatollah Ali Khamenei warns that Iran will pursue nuclear development outside regulations if the United Nations Security Council imposes sanctions. March 23, 2007 Condoleezza Rice, the United States Secretary of State, travels to the Middle East to talk with Israel and the Palestinian National Authority about the peace process. The President of Iran Mahmoud Ahmadinejad cancels a trip to address the United Nations Security Council before it decides whether to impose further sanctions, saying the United States government had been "obstructive" in issuing visas to members of his entourage. Nepal's Government orders a judicial probe into clashes between Maoists and supporters of the Madhesi People's Rights Forum. March 25 , 2007 Iran announces that it is partially suspending cooperation with the United Nations International Atomic Energy Agency and will no longer advise it of new steps taken in its nuclear program. The International Atomic Energy Agency (IAEA) was established as an autonomous organization on July 29, 1957. It seeks to promote the peaceful use of nuclear energy and to inhibit its use for military purposes. March 26, 2007 China's President Hu Jintao has started a three-day state visit to Russia aimed at promoting trade and energy ties. March 26, 2007 Tamil Tiger rebels carried out an air attack on an adjoining military base in one of their boldest operations in five years. The Tigers dropped at least two bombs from a light aircraft, killing three airmen and injuring 17 other military personnel, March 27, 2007 The Prime Minister of Israel Ehud Olmert and the President of the Palestinian National Authority Mahmoud Abbas agree to limited biweekly from Iraq by March 31, 2008 while continuing to fund the war through 2009 and allowing upwards of 80,000 troops to remain. April 3, 2007 The fourteenth South Asian Association for Regional Cooperation (SAARC) has commenced at New Delhi in which China is accepted as observer April 4, 2007 7 Israeli Prime Minister Ehud Olmert denies the peace message given by Speaker of the United States House of Representatives Nancy Pelosi to Syrian President Bashar Assad; and further stated her trip was a mistake. April 9, 2007 Iran can now produce nuclear fuel on an industrial scale, President Ahmadinejad has announced, in a move likely to further strain tensions with the West He gave no details of Iran's capacity, but some officials said 3,000 uranium gas enrichment centrifuges were running at the Natanz plant in central Iran. April 9, 2007 Shia cleric Moqtada al-Sadr calls for an anti-American protest on the fourth anniversary of the overthrow of Saddam Hussein. East Timorese voters go to the polls to elect a new President of East Timor to replace Xanana Gusmo. April 10, 2007 US and Iraqi forces backed by attack helicopters have fought gunmen in Baghdad in a day-long battle, in the fiercest fighting in the capital since a major security crackdown was launched in February.. April 11, 2007 North Korean leader Kim Jong-il dismisses Prime Minister Pak Pong-ju and appoints Kim Yong-il in his place. April 12, 2007 Chinese Prime Minister Wen Jiabao has used a landmark address to the Japanese parliament, the Diet, to urge Japan to face up to its World War II actions. Japan and China have been at odds in recent years over Japan's World War II aggression, and China has often accused Japan of not fully atoning for its actions. April 20, 2007 Keen to see an early and ''meaningful'' reform of the UN Security Council, India and three members of the G-4 have expressed readiness to hold talks with those ''genuinely interested'' in the objective. The group, which includes India, Brazil, Germany and Japan, expressed willingness to participate in the negotiations with ''flexibility''. India and China began another round of high-level negotiations on Friday on the vexed boundary issue that has been nagging the relations for decades. Special Representatives of the two countries - National Security Adviser M K Narayanan and Chinese Vice 8 Foreign Minister Dai Bingguo - held brief discussions on the first day of the 10th round of talks between them. A bipartisan group of U.S. senators has asked India to cease its growing military cooperation with Iran. New Delhi and Tehran recently stepped up military-to-military cooperation. As VOA correspondent Gary Thomas reports, such efforts could spell trouble for the pending nuclear deal between the United States and India. April 26, 2007 Burma and North Korea, two of the world's most isolated nations, have agreed to restore diplomatic relations after a break of more than 20 years. Burma broke ties in 1983, accusing Pyongyang of a bomb attack when South Korea's president visited Rangoon. The Senate of the United States approves a funding measure for the War in Iraq calling for the staged withdrawal of forces. U.S. President George W. Bush responded by stating that his reaction to the bill will be to veto it. ECONOMICAL ISSUES AND EVENTS February12, 2007 India's Hindalco Industries( HNDNF) buys Atlanta-based Novelis (NVL) for US$6 billion. February 12, 2007 China's trade surplus increases by 67%, increasing pressure on the government to float the Yuan. February 14, 2007 Bombay Stock Exchange sold 5 percent stake to Germany's Deutsche Brse AG for 1.89 billion rupees (US$42.7 million; 32.6 million), or 5,200 rupees (US$118; 90) per share.. A joint release from the two exchanges said that the deal valued the BSE, India's oldest stock exchange, at 37.77 billion rupees (US$854 million; 652.5 million). Deutsche Borse CEO, Reto Francioni, said the step would help Deutsche Borse expand into Asia. February 22, 2007 Japan records a trade surplus of 4.4 billion in January due to lower oil prices and strong exports. February 26, 2007 9 Iraq's government has agreed on a plan to divide the country's oil wealth and open the industry to international investment, a move seen as necessary to a political settlement of the nearly four-year-old war. February 26, 2007 The Chinese stock market has suffered its worst day of trading in 10 years after a large wave of share selling by leading investors. The benchmark Shanghai Composite Index fell nearly 9%, its worst daily performance since February 1997. The fall comes amid rumors of a crackdown on illegal share offerings and trading, as well as fears about accelerating inflation. March 4, 2007 China plans to cut its 2007 budget deficit to 245 billion Yuan, or 1.1 percent of gross domestic product, the finance ministry will project in a report to parliament . The report projects national fiscal revenue in 2007 of 4.4 trillion Yuan, 13.8 percent more than in 2006, with total spending of 4.65 trillion Yuan, an increase of 15.7 percent. April 2, 2007 The United States and South Korea reached agreement on a bilateral trade deal that could increase trade between the two countries by 20 percent. This agreement is the result of 10 months of negotiations. Negotiators worked day and night over the last week to reach agreement. April 9, 2007 Ministers from natural gas exporting countries such as Russia, Kazakhstan and Iran meet in Doha, Qatar, prompting speculation that they might be looking at transforming the Gas Exporting Countries Forum into a cartel similar to OPEC. The informal grouping, called the Gas Exporting Countries Forum, includes Russia, Iran and Kazakhstan. Some of its leaders have expressed interest in forming a cartel similar to OPEC to control production and price. April 10, 2007 India's largest private airline, Jet Airways, has restarted talks to purchase Air Sahara. April 11,2007 Trade officials from the United States, European Union, India and Brazil meet in New Delhi, India, to revive the World Trade Organization's Doha round of negotiations. Macau's Monetary Authority says that holders of the North Korean accounts frozen at a bank by the United States can now withdraw or transfer their money. April 15, 2007 10 India's Essar Steel has agreed to acquire Canadian steelmaker Algoma for 1.85 billion Canadian dollars ($1.63 billion) in cash, giving it exposure to North American markets as it seeks to expand globally. *********************************** References 1. BBC News 2. Buisiness News 3. CNN News 4. Daily Times 5. Forbs 6. 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