Korea sees worst week since 9/11

It is so amazing to witness Korean stock market plunged so much because of what they call, US subprime issue. The major English daily, the Korea Herald, said that the stock market hit the bottom since the 9/11. I heard from one of my friends in Korea that even some college students invested their student loan to stock market before this thing happened. It will be so disastrous to many who invested out of loan.

https://www.koreaherald.co.kr/SITE/data/html_dir/2007/08/18/200708180028.asp

"The subprime issue won't be put to sleep easily," said Jeon Jeong-woo, who
manages the equivalent of $580 million at UBS Hana Asset Management Co. in
Seoul. "People suspect we're not yet seeing the whole extent of the problem. The
heavy foreign selling will let up only after we see signs that the subprime
impact is stabilizing."

The KOSPI index dropped 53.91, or 3.2 percent, to 1,638.07 in Seoul. It rounded off a 10 percent weekly decline, the worst since the week of the Sept. 11 attacks.

The impact of globalization is so fast and tenacious. We should grow wiser to cope with it.

N. Korea blasts U.S. for not working harder to free Korean hostages in Afghanistan

North Korea which kept silent about the matter of Korean hostages in Afghanistan broke silence by way of accusing US for doing nothing to solve this matter.


https://www.koreaherald.co.kr/archives/result_contents.asp?id=200708150086&query=taliban

North Korea blasted the United States Wednesday for "sitting idle" and turning a blind eye to the protracted captivity of 19 South Korean hostages by Taliban insurgents in Afghanistan.

"The U.S. is coolly turning aside from the case, while repeatedly calling for not making compromise with terrorism," said the English-language commentary carried by the North's Korean Central News Agency.

The North Korean newspaper blamed the U.S. war on terrorism for the hostage-taking unfolding in the South Asian Islamic country.

"Such tragic case would not have occurred if the U.S. had not launched the brigandish
war on terrorism in Afghanistan and introduced South Korea there to meet its own
interests," it said.

Considering their past history of transacting with terrorists countries, their claim is held askant by many South Koreans. This comment is interesting because it came from the country once labeled as an "Axis of Evil" by president George Bush.

U.S.-Made Toys Benefit From China’s Troubles

The recent recalls of Chinese-made toys found to contain lead in their paint has been good for U.S. toy makers who had a hard time competing against cheaper Chinese imports.

(http://www.nytimes.com/2007/08/15/business/15toys.html)

With about 80 percent of the toys sold in the United States manufactured in China, the relatively few manufacturers of American-made toys who remain have relied to some extent on snob appeal and survived mostly by emphasizing the quality of their products — even if they cost more money.

But some are now pointing to another competitive advantage: you can count on them to be lead free.

After struggling for years to compete against cheaper Chinese imports, several manufacturers of American-made toys said they had been inundated with calls in recent weeks from retail chains and customers inquiring about their products.

The calls increased yesterday after Mattel announced its second major recall of Chinese-made toys that contain lead paint. In June, an Illinois toy manufacturer, RC2 Corporation, recalled 1.5 million Thomas & Friends toy train sets that were manufactured in China and contaminated with lead aint.

I hope this is a high time that Chinese entrepreneurs get really alerted to the safety of the product prior to profit. After all, these days it seems almost impossible for so many people in this world, to have a daily life without using Chinese imports from food to toys.

What will be the best countermove?--Taliban Release 2 Korean Hostages

Talliban finally released 2 Korean hostage women allegedly unconditional.
Because they released them uncoditionally for the "humanitarian reason", they ask Korea to oblige to their original demand-- the prisoner swap.

http://www.nytimes.com/2007/08/13/world/asia/13cnd-hostages.html?ref=world

Since America and Afghan government are adamently refusing any compromise, especially prisoner swap, with the terrorists, there are not many choices the Korean party can take. Money? They will buy more high tech arms and in turn get encouraged to do more kidnapping. Under the massive emotional pressure, what could be the wisest action the Korean government take? How would you do, if you were in the negotiating table?

China's presence in Chad--China, Filling a Void, Drills for Riches in Chad

New York Times features an article about China's active involvement in helping Chad for the road to development. Chad, gaining the independence from France only in 1960, and being one of the poorest country in Africa welcomes the help.

http://www.nytimes.com/2007/08/13/world/africa/13chinaafrica.html?em&ex=1187236800&en=201d18be9eca0763&ei=5070">

To help make that happen, China plans to build the country’s first oil refinery, lay new roads, provide irrigation and erect a mobile telephone network, for starters.
With such intensive efforts across the continent, China’s trade with Africa topped $55 billion in 2006, up from less than $10 million in the 1980s.

Still, major doubts hang heavily in the air. Will China’s hunger for raw materials enable this continent to take off? Or will Beijing’s willingness to spend whatever it needs in Africa, without regard to fiscal prudence, democracy, honest business practices and human rights, produce a replay of booms past, enriching local elites but leaving the continent poorer, its environment despoiled and its natural resources depleted?

Chinese officials almost invariably describe their relationship with African countries as a win-win — based on mutual respect, aimed at joint prosperity and free of the overtones of exploitation and paternalism that critics worldwide say have governed much of the West’s postcolonial relationship with Africa.

But as to the effect of this proposed win-win aspect, I am quite doubtful knowing both Chad and China are countries with a reputation of corruption. What do you think?

Two Koreas to hold summit

http://www.cnn.com/2007/WORLD/asiapcf/08/07/2koreas.summit/index.html

On August 28-30 in the North Korean capital of Pyongyang, there would be the two Korea's second -ever summit and almost every Korean people are excited about the upcoming national event. The second summit is aimed at raising relations between the two nations. The summit will raise South-North relations and open a new stage of peace, joint prosperity and unification on the Korean peninsula.

Korea is the only one existing country who has been divided into two nations in the world. This summit is going to be the second in seven years between the two nations. I remember the first North and South Korea summit in 2000. Even though there was not much changes in the relations between two nations after the first summit, I would not give up hoping about the changegs thsi summit could possibly bring about. Yet, some of doubts came up to me like why the North Korea has agreed to hold summit talks with a South Korean government. I thought about possible answers to North Korea's agreement on this second summit talks. And then I assume it as one way of North Korea's politic strategy. North Korea has been seeking normalization of relationship with Washington. North Korea government agreed to have a summit talks with South Korea not because of their genuine desire to deepening the relatinos, but to use and play in international arena. North Korea might have recongnized that an inter-Korean summit could help improve its hostile relationship with the United States.

Darfur's rebel groups reach deal

http://news.bbc.co.uk/2/hi/africa/6932625.stm



This article about Darfur's rebel groups having been agreed on a common position and want "final" talks with Sudan's government in near future somewhat sounds hopeful.
The decision/agreement to send 26,000 UN and African Union peacekeepers to Darfur was made last week. However, I am wondering how those institution play authentical roles in ensuring peace in Darfur.
It is cheering to haer that the Darfur's rebel groups have agreed on a common position, with this they can maintain a united position for the good of all Darfuris. To improve upon the situation, all parties must adhere to the terms of any agreement that will be reached subsequently, if this done, there is a very high probability to maintain peace in Sudan's troubled region.
These talks need to be truly multilateral if there is to be any hope for peace in Darfur. Without the officials from both sides of the Darfur conflict present, any agreements made cannot be held legitimate by all parties. Although the UN has been successful in some crises such as Haiti (for the present time) the situation in Darfur is one that cannot be solved without pressure on China, a UN Security Council Permanent Member. The UN needs to exercise its soft power resources against Sudan.

Flood victims furious at lack of help

http://www.cnn.com/2007/WORLD/asiapcf/08/07/southasia.floods.reut/index.html



The article about floods in South Asia was hopelss yet, I hope to get to find a better solution. People have drowned, died from snakebites, hunger or water-borne diseases, or have been crushed to death or electrocuted since devastating monsoon floods in India and Banglasdesh.
This addresses the problem of South Asian government dealing with its natural disaster. There is a lack of preparedness to deal with the monsoon floods -- almost an annual feature in Bihar -- than at being missed by relief efforts, citing the few helicopters and boats
India has deployed only four helicopters for air-drops in Bihar, despite complaints from United Nations officials that this was completely insufficient.
This is an effect of Global warming.In south asia flooding ia the biggest threat to humans.Specially in Bangladesh duing Monsoon flodding and by other weather problems thousands of people die every year.Two third of that nation is under water and it is the most crowded nation in the world.Other nations of the world must open the door for these people to migrate to live and settle there. Global warming is caused by some rich nations and it is their duty they must help these poor peoples.
The striking issue is there are too many people. It will be very difficult for any government to plan ahead for this expected natural 'disaster' each year. The best plan for the government is to invest in a large scale population control programme. it is easier to plan accomodation/relocate people to better areas if there are fewer people/square area & easier to feed them during times of disaster.

China cleans up one-child slogans

http://news.bbc.co.uk/2/hi/asia-pacific/6931819.stm

This article about the Chinese one-child policy that has been placed since 1979 to liimt population growth is interesting. This article talks about how Chinese government is concerned about slogans that harms the image of the this family planning policy. For example,
"Raise fewer babies but more piggies", "Houses toppled, cows confiscated, if abortion demand rejected" and "One more baby means one more tomb." This policy brought negative influences and led to forced abortions, sterilizations and a dangerously imbalanced sex ratio due to a traditional preference for male heirs, which has prompted some families to abort female foetuses in the hope of getting boys.

I personally agree with Chinese government policy on family planning even if it somewhat violates human rights or parents rights. Population growth in the developed countries and the developing countries are different. Whereas the developed countries with larger resource base, cope more easily with growth, the developing countries cannot cope.I think that if Chinese government cannot control of its population, developed countries of the world and international organizations should help the developing world reduce their population growth rates. Because high population growth rate results environmentally unsustainable development.Not only with environmental matter but also high population growth results in the worsening of poverty, and negative impact on the status and welfare of women and children. Policies to reduce population growth can make an important contribution to social advance.And also, introducing comprehensive family-planning programs.

U.N. troops will go to war ravaged Darfur

http://www.cnn.com/2007/WORLD/africa/07/31/darfur.troops.reut/



The U.N. Security Council voted unanimously to authorize up to 26,000 troops and police in an effort to stop attacks on millions of displaced civilians in Sudan's Darfur region.
The resolution allows the use of force in self-defense, to ensure freedom of movement for humanitarian workers and to protect civilians under attack.
The resolution calls on member states to finalize their contributions to the new force, called UNAMID or the United Nations-African Union Mission in Darfur, within 30 days. UNAMID would incorporate the under-equipped and under-financed 7,000 African Union troops now in Darfur.

As people from the MDC, more developed country, we are exposed to global events everyday in the media. I feel like almost everyday on the news, there is a story about the war in Iraq and/or conflicts in other regions of the world. As viewers of this global news, we have become accustomed to this type of violence and hearing about genocides throughout the world. Especially when there is no personal story or face attached to these people in countries that we have never traveled to or heard of. Because of this, the stories seem like they are so far away from us. Additionally, because of our ignorance towards the African continent, we tend to group all Africans together and when we hear about all of the different conflicts that occur there, it is almost too overwhelming to feel like anything could be done to help. Ultimately, we live in a country where we are fed information about tragic world events daily, we have become unable to understand the horror of most events and continue with our daily lives because we feel that there is nothing we can do to help. In my opinion this attitude is similar to our democratic process. Americans are getting too lazy and feel like they have no part in the decision-making process anyways, so why do anything?

Seeking Japan's apology on "comfort women"

http://www.boston.com/news/nation/washington/articles/2007/07/30/house_seeks_japans_apology_on_comfort_women/


The U.S. House of Representatives called on Japan to apologize for forcing thousands of women into sexual servitude to its soldiers during and before World War II.On a voice vote, the House approved a nonbinding resolution intended as a symbolic statement on the Japanese government's role in forcing up to 200,000 "comfort women" into a wartime brothel program starting in the 1930s. In 1993, Japan acknowledged a state role in the wartime program, which mostly victimized Chinese and Korean women. Japan's government later established a fund, which collected private donations and offered payments of about $20,000 to 285 women.
But more recently, Japanese officials including Prime Minister Shinzo Abe, have denied there was evidence the government or military were directly involved in procuring the women. He later apologized for the women's suffering and said he stood by the 1993 statement.


I used to believe that there must have been systemic kidnapping by the Japanese army as a matter of course. It seemed, everybody said so. When I started looking at some Japanese sources, I found some arguments to the contrary, but I did not change my mind. It was true that many of the evidence against Japan were either misrepresented or unreliable, but the Korean argument that the hard evidence must have been purposely destroyed by the Japanese army sounded more convincing to me. It was also true that some of the most famous ex-comfort women frequently changed their testimony or were outright wrong about wartime events, but I let it slide since these women were old and not the best educated. There were also some notable forgeries and liars who, as it turned out, were being paid big money to testify against the Japanese (often by the Japanese media themselves), but that was to be expected when you had such a sensational media frenzy. Years ago, I personally visited to Japan. Japanese Society hasn't changed--business men leave their wives and children all the time to travel to Korea, Taiwan, China and Thailand for sex. In Japan, war crimes are turned into myths and war criminals are worshipped. I believe if the Japanese had a chance, they would commit the same atrocities again. This article reminds me of the Korean past history and the brutality of the Japanese Imperial Army and how these women suffered both physically and psychologically. In my personal opinion, requiring Japan's apology on 'Comfort Women' is a descent and necessary step toward deepening relationship among Asian countries.

Official: $20 billion arms sale to Saudis

http://www.cnn.com/2007/WORLD/meast/07/28/saudi.arms/


The United States is developing a proposed $20 billion, 10-year arms sales package for Saudi Arabia. The proposed sale is intended to upgrade the Saudi military's ability to counter possible Iranian aggression in the Persian Gulf region has been discuessed. The discussions with the Saudis are still going on and the arms sale deal has not been completed. Israel is expected to raise objections to the arms package, and has expressed concerns about previous Saudi arms deals.

The concept of “nuclear credibility.” The term essentially means that a country with these weapons must appear to be willing and able to use these weapons. Whether the country would actually unleash these horrible weapons upon someone else is not of much importance. Only the appearance that a country could and would is the most important part. Having nuclear creditability meant that you have the weapons and you have the guts to actually unleash such a horrible terror. Naturally, no country wants to use these weapons due to the fact that they are so destructive and also that there would be suicidal consequences that followed. If you use the bomb, you are probably going to be bombed as well. Therefore, the only important part of the arms race was to build these horrible weapons to use them only as a threat in order to deter something from happening. It troubles me to know that all this money was spent simply on the fact that they might be used. I am obviously glad that the arms race did not turn into a nuclear war. But it is hard for me to accept that all that money that could have gone to education, health care, and other government programs went to building bombs that could kill millions of people and also bring this kind of destruction to our country. What if we had used one of these bombs during the arms race? How many bombs would have been dropped on our country in response to our offensive? People say that you should hope for the best, but be prepared for the worst. I guess that is the approach the government took in the arms race.

Thousands arrested in Zimbabwe for not cutting prices

http://www.cnn.com/2007/WORLD/africa/07/26/zimbabwe.arrests.ap/index.html

Thousands of store owners, managers and business executives have been arrested since the government began its campaign to slash prices last month in Zimbabwe.The government ordered that prices be slashed by around 50 percent to curb inflation, officially at 4,500 percent but estimated to be twice as high.Already scarce staple foods, gasoline and many basics have disappeared from shelves because store owners say they can't afford to sell at the new low prices.Foreign investment, loans and development aid to Zimbabwe have dried up amid years of political and economic turmoil after Mugabe's government began often-violent seizures of thousands of white-owned farms in 2000.Mugabe rejects criticism that the meltdown is the result of mismanagement and instead blames Western sanctions.

This article showed me a clear interdependent relationship between economy of developing nations and international economic institutions. It seems discouraging that international institutions and their policies are not working properly as they were intended. While the IMF's stated purpose is to create global economic and currency stability, many of its policies are highly controversial. The IMF offers bailouts to foreign countries but with what it refers to as "Structural Adjustment Policies". These policies are supposed to liberalize the market, reduce governmental spending, and increase transparency in order to attract foreign investors and prevent overspending and corruption. However, many of these policies are counterproductive. Additionally, many of the proposed bailout loans proposed by IMF's sister, the World Bank, are conveniently required to make up for the budget deficits of an overly burdened national economy. These economies are so overly burdened that they cannot make sufficient investment in necessary national infrastructures required to keep the economy going. It must be noted that the World Bank loans, like the IMF, also tout structural adjustment policies that may plung the national economy into another depression.

Congress sends 9/11 panel recommendations

http://www.boston.com/news/nation/washington/articles/2007/07/28/congress_sends_intensified_antiterrorism_legislation_to_bush/
Congress sent President Bush legislation to intensify anti-terror efforts in the U.S., shifting money to high-risk states and cities and expanding screening of air and sea cargo to stave off future September 11-style attacks.The measure carries out major recommendations of the independent 9/11 Commission. The bill elevates the importance of risk factors in determining which states and cities get federal security funds -- that would mean more money for such cities as New York and Washington. The independent 9/11 Commission in 2004 issued 41 recommendations covering domestic security, intelligence gathering and foreign policy. Under the new formula a larger percentage of grants will go to high-risk urban areas.It strengthens security measures for the Visa Waiver Program, which allows travelers from select countries to visit the United States without visas.


As I read this article, I could see that the state is intervening in trivial matters more so than in the past. In the modern age of "terror" and globalization, the state is assuming a more active role in the everyday lives of its citizens not because it is losing effectiveness on the world stage, but because it has the ability to do so under the guise that it is necessary for the "security" of its citizens. The state is opportunistic by nature and to preserve and strengthen its power it must have more control over the activities of its subjects.
Even after the 9/11, US government is still acting in a way that there will be even more blowback. All the military action occurring in Iraq and Afghanistan are only going to create more generations of people who hate US and want to bring US down. Many people wants to send troops into that area of the world after the terrorist attacks so that the victims would not die in vain. But they probably did not think about the children of the parents that died in all the counter attacks. These children are going to grow up and become the next generation of terrorist, with their own intentions vengeance. I am truly not looking forward to and fear the future “blowback” our country is almost certainly going to witness. Reading this article about the recommendation of the 9/11 commission, I get to wonder how this would contribute to the world peace. It might achieve national security but not globally. I feel like US Congress is trying to alienate other nations. How would this Bill assure the trustworthy among nations?

Libya-French Meeting

http://www.cnn.com/2007/WORLD/europe/07/25/france.libya.reut/index.html#cnnSTCText

The article I reade is about French President Nicolas Sarkozy meeting Libyan leader Muammar Gaddafi to deepen relations after helping to resolve a diplomatic standoff that hurt the oil exporter's ties with the West. Libyan officials said the two countries would sign an accord on cooperation on a military-industrial partnership and another to activate previous agreement on cooperation on the peaceful uses of nuclear energy.There will be the signing of an agreement on cooperation on a military-industrial partnership.
Reading international news articles helps me to learn not only about what is going on in the world I am living now but also to learn about the history, the past that causes the status of its present and future. It gives readers a breif history of the past relationship between Libya -French and other nations. Lybia ended decades of international isolation in 2003 when it agreed to halt a weapons program prohibited by the United Nations and pay compensation for the bombing of a U.S. airliner over Scotland in 1988 in which 270 people were killed.French-Libyan relations, which had been warm in the 1970s, hit a low during the UTA dispute and French officials spoke of a new era after the compensation deal.
To be honest, I am caught between two different thoughts. I feel happy for these two nations signing of an agreement on cooperation on a military-industrial partnership, further promoting the world peace. However, I keep doubting whether deepening relationship between Libiya and Frece is truly fair for both sides. I know that France has a nuclear along with England, Russia, the US, China). Why is it acceptable for some countries like France to have nuclear weapons but not other countries? I wonder whose interest this meeting is based on.

Taliban kills South Korean hostage

One of 23 South Koreans held hostage in Afghanistan by the Taliban has been killed.
Taliban spokesman Qari Mohammad Yousif Ahmadi said the man had been killed because Taliban demands -- which included a prisoner release and withdrawal of South Korean troops from the country -- hadn't been met.
http://www.cnn.com/2007/WORLD/asiapcf/07/25/afghanistan.hostages/index.html

As a Korean international student in the US, I have become more aware and even vulnerable to any news
related to Korea. My family and friends talked to me about this tregic news over the phone this morning.
I could not really understand what they were talking about when I first heard it. Reading this article with my own eyes made me realize the current situation of the world. The war between Iraq and the US is not the only war
between two countries. It showed me how we as participants of the globalized world is interdepended to our environments. I feel so sad that one of 23 innocent Korean hostages has been killed by the Taliban. I often times feel that everything around me is so peaceful that international issues does not really matter to my personal life. However, reading this article helped me understand how my personal life can be affected in this one globalized society.