Tag Archives: G8

Five Stories You Might Have Missed

It’s been another busy week for President Barack Obama, who started the week laying the foundation for a new arms control agreement with Russian President Dmitry Medvedev, then moved on to discuss a range of issues including food security and climate change at the G8 summit in Italy, before concluding the week with a visit to Ghana, where he delivered a speech calling for more effective and accountable leadership in Africa.

In other news from the previous week:

1. In a surprising move, Russian President Dmitry Medvedev announced on Friday that Russia was still interested in securing membership in the World Trade Organization. In doing so, President Medvedev reversed Prime Minister Vladimir Putin’s June announcement that Russia was ending its bid to secure WTO membership, moving forward instead with a customs union incorporating several of the former Soviet republics. While Medvedev’s spokesperson sought to minimize the differences between Medvedev and Putin’s approaches the policy reversal nevertheless represents the most dramatic policy clash between Russia’s two top political leaders. The uncertainty surrounding Russia’s position on WTO membership further complicates ongoing talks between Russia and its trade partners.

2. A series of denial-of-service attacks against the United States and South Korea on Wednesday were likely the result of a North Korean cyber attack. In a denial-of-service attack, thousands of simultaneous electronic information requests are made, causing computer servers to crash. Wednesday’s attacks were directed against South Korean and U.S. financial sector and government computers, including Department of Defense and FBI networks. The attacks followed a series of increasingly aggressive missile test launches by North Korea, including several launched over the July 4th weekend, and highlighted the vulnerability of U.S. computer networks to relatively simple cyber attacks. Many analysts believe this sort of denial-of-service attack—in an effort to inhibit communications—would precede a North Korean military attacks against the South.

3. Israel’s National Security Advisor, Uzi Arad, considered by many to be Prime Minister Benjamin Netanyahu’s closed political advisor, announced that Israel would not return the Golan Heights to Syria as part of any peace deal. The two countries are currently engaged in indirect talks aimed at reaching a “comprehensive peace.” But the status of the Golan Heights remains disputed, as both countries seek control of the region, which is of strategic importance, as well as being a major source of water and a popular tourist destination in the water-scarce region. Israel seized the Golan Heights in 1967, after the Syrian army used the strategic position to shell Israeli positions in the Hula Valley below. The status of the Golan Heights, along with the status of Israeli settlements in the West Bank, remains the major stumbling blocks for a comprehensive peace between Israel and its neighbors.

4. Talks intended to resolve the political crisis in Honduras began in Costa Rica on Thursday. The crisis began two weeks ago, when President Manuel Zelaya was removed from office and put on a military transport out of the country. Roberto Micheletti has been named interim president, but his government is not recognized by the international community. The Organization of American States has taken the lead on addressing the standoff, sponsoring talks to peacefully resolve the standoff. But so far, both sides are unwilling to compromise on the central question: who should rule in Honduras?

5. The United States and the European Union appear to be on a collision course with respect to new financial regulations intended to prevent another global financial crisis like the one that ripped through markets late last year. The U.S. Congress is currently considering a new regulatory system that would impose stricter regulation on derivatives, including bans on some of the riskiest financial instruments. But many are concerned that stricter regulations in the United States would encourage regulatory arbitrage, where financial companies would simply relocate to jurisdictions with weaker regulatory systems.

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Five Stories You Might Have Missed

President Barack Obama is in Moscow today, meeting with Russian President Dmitry Medvedev to lay the foundation for a new nuclear arms control agreement to replace the Strategic Arms Reduction Treaty, which expires in December. In an interesting twist to the meeting, Obama appears to be attempting to improve relations with Medvedev, leaving some to speculate that he is signaling the interest of the United States to work with Medvedev rather than Prime Minister Vladimir Putin, who most observers believe holds the real political power in Russia.

In news from outside the Moscow meetings:

1. Rioting by ethnic Uighurs in Xinjiang, China, has left 140 people dead. Protests broke out in the isolated region in western China over the weekend after police broke up an anti-discrimination protest in the capital, Urumqi. Tensions between Han Chinese and Uighurs had been increasing over the past year, as an oil boom in the Muslim-dominated region led to a massive increase in Han immigration. Security was increased in the region in the run up to the Olympic Games in Beijing last summer, but tensions continued to mount, culminating in this weekend’s violence.

2. Two protestors were killed and several were wounded in Honduras over the weekend. The protestors were awaiting the return of deposed President Manuel Zelaya, who was expelled by the country’s military last week. On Sunday, he attempted to return to Honduras from Costa Rica by plane, but his plane was unable to land. As a result of the coup, Honduras has been suspended from the Organization of American States, and the country faces the risk of future formal and informal sanctions, including risking sharp declines in foreign direct investment and reduced access to international credit flows.

3. The Movement for the Emancipation of the Niger Delta (MEND) has stepped up attacks on Nigeria’s oil infrastructure, following an offer of amnesty from the government. Nigeria’s President, Umaru Yar,Adua, had offered a 60-day amnesty to militants in the region, hoping the offer would bring to a close attacks in the oil-rich Niger delta. But militants appear to have rejected the offer, instead launching a new round of attacks. At issue is the distribution of benefits from the oil industry. The Niger River delta region is one of Nigeria’s poorest regions, despite being home to the vast majority of the country’s oil wealth. Groups living in the delta region are seeking a larger share of the oil revenues and greater autonomy from the Lagos-based government. The conflict has a long history, predating Nigerian independence in 1960. But the most recent phase of the conflict dates to 2006, when MEND launched its attacks.

4. The G8 is preparing to launch a new food security initiative this week, pledging more than U.S. $12 billion over the next three years to support the program. The plan marks a dramatic shift in U.S. policy, which historically has emphasized the provision of emergency food aid sourced from American farmers rather than efforts to expand production of foodstuffs in the developing world. However, the recent global food crisis underscored the vulnerability of global food stocks. With an estimated 1 billion hungry people worldwide and the continuing global financial crisis, observers fear that the global food crisis may yet re-emerge.

5. Indian Finance Minister Pranab Mukherjee delivered the country’s new budget on Monday. The budget, which includes sharp increases in infrastructure spending and new protections for Indian farmers, immediately proved unpopular with investors. India has suffered from a slowdown in economic growth resulting from the global economic crisis, and the new budget would expand the country’s fiscal deficit to as much as six percent of gross domestic product. Nevertheless, the new government appears to be committed to is program of “inclusive growth,” moving forward with privatization and liberalization but maintaining protections for the country’s most vulnerable populations.

Five Stories You Might Have Missed

It was a busy week in international diplomacy. President Barack Obama removed some restrictions on travel to Cuba. But the U.S. continues to demand political reform in Cuba as a precondition for further opening of relations between the two countries. Much has also been made of the encounter between Obama and Venezuelan President Hugo Chávez. Chávez gave Obama a gift and signaled his willingness to improve relations with the United States. The United States, however, opted not to attend a United Nations conference on racism due to the conference’s inclusion of Zionism on its agenda.

1. A draft of the final communiqué of the G8 meeting (the final communiqué will be released on Monday) concedes that the world is unlikely to meet the Millennium Development Goals agreed to in 2000. The MDGs include measurable targets to improve the plight of the world’s poor by 2015, including halving the number of hungry, having the number of people who live on less than $1 per day, eliminating gender disparities in all levels of education, and cutting child mortality rates. While the G8 statement will stress the need to achieve a consensus on agricultural reform, it does not include any specific financial pledges. For most observers, this makes the meeting—the organization’s first to deal specifically with agriculture—a failure.

2. Journalist Roxana Saberi was sentenced to eight years in prison after being found guilty of espionage by an Iranian Revolutionary Court. Saberi holds dual U.S.-Iranian citizenship and has been employed as a freelance journalist by many leading Western news agencies, including NPR and the BBC. Saberi’s sentence was longer than most observers had expected, and the trial and sentencing were condemned by the U.S. government. Iranian President Mahmoud Ahmadi-Nejad is urged the judiciary on Sunday to permit Saberi to defend herself in court.

3. Elections scheduled for Wednesday in South Africa appear to be on track, and the ANC appears well-placed to secure another two-thirds majority in the national legislature. Barring an extraordinary development, Jacob Zuma, the leader of the African National Congress, will be the next president of South Africa.

4. A suicide car bomb killed 25 soldiers and police as well as two civilians in Pakistan on Saturday. The Taliban claimed responsibility for the attack, which injured more than 60 people, and said that the attack was a response to U.S. drone strikes in Pakistan.

5. The International Monetary Fund agreed to unlock a $16.4 billion standby loan for the government of Ukraine. While the move is seen as a reflection of the growing confidence the international community has in the Ukrainian government, it also signals the continuing challenges posed by the global economic crisis. As part of the package, the Ukrainian government unilaterally adopted a series of tough concessions, bypassing parliament and undermining popular support.