Friday, June 27, 2014

Globalized RMB to stabilize world economy


BEIJING, June 27 (Xinhua) -- The globalization of the yuan, or renminbi (RMB), will not only benefit the Chinese economy, but generate global economic stability, a senior banker has said.
The yuan did not depreciate during the 1997 Asian financial crisis or the 2008 global financial crisis, helping stabilize the global economy, Tian Guoli, chairman of the Bank of China, said at a forum in London last week, according to the Friday edition of the People's Daily.
China's economy ranks second in the world and its trade ranks first, so it is thought that use of the RMB in cross-border trade will be a mutually beneficial move for China and its trade partners.
The yuan has acquired basic conditions to become an international currency as China's gross domestic product took 12.4 percent of the world's total and its foreign trade 11.4 percent of the world's total in 2013, Tian said.
According to the central bank, RMB flow from China hit 340 billion yuan (55.74 billion U.S. dollars) in the first quarter of 2014, replenishing offshore RMB fluidity. The balance of offshore RMB deposits hit 2.4 trillion yuan at the end of March, 1.51 percent of all global offshore deposits. Offshore trade between the yuan and foreign currencies doubled in the first quarter from the fourth quarter of last year.
Analysts widely forecast five steps in RMB internationalization: RMB used and circulated overseas, RMB as a currency of account in trade, RMB used in trade settlement, RMB as a currency for fundraising and investment, and RMB as a global reserve currency.

China envoy makes historic Taiwan visit By Radio Free Asia


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A Look at Android L Google shares some insights into the next version of Android.


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India’s Saffron Capitalism

India’s Saffron Capitalism » CounterPunch: Tells the Facts, Names the Names


Thursday, June 26, 2014

China plans investment bank to break World Bank dominance


China is moving forward with a plan to create its own version of the World Bank, which will rival institutions that are under the sway of the US and the West. The bank will start with $100 billion in capital.
The Asian Infrastructure Investment Bank (AIIB) will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan. The $100 billion in capital is double that originally proposed, the Financial Times (FT) reported.

Asia Times Online :: Seeking truth for 'comfort women'

Asia Times Online :: Seeking truth for 'comfort women'


Seeking truth for 'comfort women'
By Christine Ahn

On June 9, outside of Seoul, 91-year old Bae Chun-hui took her last gasp of air at the House of Sharing, a communal home established for former "comfort women" in South Korea to live out their remaining years in peace.

Bae was kidnapped at the age of 19 and taken to Manchuria, where she was forced into sexual slavery until the end of the Second World War.

Not only did Bae die without achieving justice. In her final days, she also witnessed Japan's shameful efforts to wring its hands of

war crimes its military committed against an estimated 200,000 women and girls from throughout Asia during the Pacific wars of the 1930s and '40s.

Bae was among the Korean women who spoke out after the former comfort woman Kim Hak-sun broke her silence in 1991 and publicly recounted her abduction and sexual torture by Japanese soldiers. In her testimony, Kim painfully recalled: "A commissioned officer took me to the next room which was partitioned off by a cloth. Even though I did not want to go he dragged me into the room. I resisted but he tore off all of my clothes and in the end he took my virginity. That night, the officer raped me twice."

Kim lifted the floodgates for other Korean women to come forward. Burmese, Chinese, Japanese, Filipina, Taiwanese, Vietnamese, and Pacific Islander women also verified that their experiences were not isolated, but were the outcome of a systematic, well-organized government program to establish "comfort stations" for Japanese soldiers throughout Asia and the Pacific.

The Japanese government has vigorously resisted calls to repent for its actions. But a growing global movement is ensuring that if Japan won't hold itself to account for its grievous crimes against these women, then history will


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Monday, June 23, 2014

In Iraq, ISIS Channels Mao


I still want to know where they got these trucks. :-)

The situation in western Iraq is indeed dismaying. Let’s ransack the strategic canon for a few ideas that may help statesmen and commanders comprehend what has happened and what it all portends. First, scholar Timothy Lomperis reminds us that, at bottom, internal struggles such as the one raging in Iraq and Syria are contests for political legitimacy. Whichever contender best provides ordinary people the basics of life, makes a critical mass of the populace a stakeholder in its rule, and ultimately makes them believers in its right to rule is apt to prevail.
Which, second, makes the Iraqi forces’ collapse all the more disquieting. There is no way a U.S.-equipped and -trained military serving a legitimate regime — a legitimate cause — should throw down arms and capitulate to a vastly outnumbered enemy, no matter how motivated or well led. Iraqi soldiers, it seems never learned an elementary maxim from Chinese strategist Sun Tzu: when on death ground, fight. Or, if you prefer your wisdom from Dr. Johnson: the prospect of being hanged focuses the mind wonderfully. If that basic logic escapes the Maliki regime — if it has failed so catastrophically to win legitimacy and assert sovereign authority — its days may be numbered.
Third, ISIS, the Islamic State in Iraq and Syria, has proved itself a far more serious foe than al-Qaeda, the Taliban, or other adversaries of the post-9/11 years. It’s more Maoist in its operational and strategic outlook. Al-Qaeda seems to think it can bypass Mao Zedong’s classic Phase III battlefield struggle: it can win solely through terrorist action, and without a conventional victory. Doubtful. ISIS clearly understands it has to defeat its opponents to win — just as Mao knew he had to vanquish the Nationalists to bring China under communist rule.

Japan: Balancing Defense With History


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India’s ‘Temple Slaves’ Struggle to Break Free By Stella Paul

Joginis dance outside a temple during a religious festival. Credit: Stella Paul/IPS
Joginis dance outside a temple during a religious festival. Credit: Stella Paul/IPS
NIZAMABAD, India, Jun 22 2014 (IPS) - At 32, Nalluri Poshani looks like an old woman. Squatting on the floor amidst piles of tobacco and tree leaves that she expertly transforms into ‘beedis’, a local cigarette, she tells IPS, “I feel dizzy. The tobacco gives me headaches and nausea.”
At the rate of two dollars for 1,000 cigarettes, she earns about 36 dollars a month. “I wish I could do some other job,” the young woman says longingly.
But no other jobs are open to her in the village of Vellpoor, located in the Nizamabad region of the southern Indian state of Telangana, because Poshani is no ordinary woman.
She is a former jogini, which translates loosely as a ‘temple slave’, one of thousands of young Dalit girls who are dedicated at a very young age to the village deity named Yellamma, based on the belief that their presence in the local temple will ward off evil spirits and usher in prosperity for all.
Poshani says she was just five years old when she went through the dedication ritual.
First she was bathed, dressed like a bride, and taken to the temple where a priest tied a ‘thali’ (a sacred thread symbolising marriage) around her neck. She was then brought outside where crowds of villagers were gathered, held up to their scrutiny and proclaimed the new jogini.
“Women here now see the jogini system as a violation of Dalit people’s human rights." -- Kolamaddi Parijatam, a rights activist in Vellpoor.
For several years she simply lived and worked in the temple, but when she reached puberty men from the village – usually from higher castes who otherwise consider her ‘untouchable’ – would visit her in the night and have sex with her.
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The Korean “Cinema of Assimilation” and the Construction of Cultural Hegemony in the Final Years of Japanese Rule

Figure 3. Spring in the Korean Peninsula (1941). Advertisements. Maeil Sinbo (5 November 1941: 1; 6 November 1941: 3; 8 November 1941: 1 – left to right, and top to bottom). Author’s own collection.The bottom advertisement includes a promotional tie-in campaign for Newtone, a blood replenishing and energizing cure-all-ailment tonic, which is also featured in a window display case in the inserted documentary footage of the cinema screening the Chunhyang film-within-the-film.

Sunday, June 22, 2014

South Korea Becomes Biggest Investor in Vietnam, Beating Japan


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“No Military Alliance” Between China and North Korea

The close China-North Korea relationship is often celebrated in North Korea, as illustrated in this photo of a ceremony at the 2010 Mass Games in Pyongyang. (Photo by Roman Harak via Wikimedia Commons)
The close China-North Korea relationship is often celebrated in North Korea, as illustrated in this photo of a ceremony at the 2010 Mass Games in Pyongyang. (Photo by Roman Harak via Wikimedia Commons)
- See more at: http://www.businesskorea.co.kr/article/5115/unexpected-comment-%E2%80%9Cno-military-alliance%E2%80%9D-between-china-and-north-korea#sthash.zIjl94ex.dpuf
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The Cambodian People’s Party: A Deficit of Leadership


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China: Winners From Thailand’s Coup


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Wolves In The City: 13 Muslims Shot Dead In China After Police Station...

Wolves In The City: 13 Muslims Shot Dead In China After Police Station...

Stability in the subcontinent is a critical for the success of Russia’s Asia pivot

Stability in the subcontinent is a critical for the success of Russia’s Asia pivot
Sushma Swaraj raised India's concerns about Russia's potential supply of Mi-35s to Pakistan. Source: RIA Novosti
Bringing India and Pakistan together in groupings like the SCO and pushing for gas pipeline projects will speed up economic integration in a region stretching from Russia through Central Asia up to the Indian subcontinent.