Friday, July 30th, 2010

Daily Verdict: November 23rd, 2008

WTO agreement soon?
Following the G20 meeting last week and the recent APEC discussions, there is increased pressure on the WTO to table another ministerial meeting on the Doha round. Encouragement from the G20 and APEC suggesting that an agreement on the long disputed free trade talks would significantly ease economic pressures on struggling countries. WTO Director General Pascal Lamy has not yet proposed a date for the meeting but there is increased speculation that a meeting in mid-December will take place where a deal regarding trade-hampering tariffs and subsidies should be reached. We can only hope.

Obama to delay promise?
Obama aides are already suggesting that the President-Elect will have to delay the proposed roll-back on tax-cuts to high-earning Americans. David Axelrod, a future senior White House adviser, said that all possibilities will be taken into consideration as the President-elect will first focus on stabilizing the current economic crisis before he carries out any campaign promises. I wonder how this will play out with his voters. Only if his strategy works will people see this as a smart move. In other Obama news, the announcement of his economic team is expected tomorrow as Geithner and Summers are both expected to be granted significant roles.

Thai “final battle” begins
Thousands of protesters have gathered in Bangkok to protest against the current government. In what they dub the “final battle” in a 5 month street campaign, the protesters hope to oust current Prime Minister Somchai Wongsawat who they claim is only a puppet for former Prime Minister Thaksin Shinawatra. Police have put over 3 000 riot soldiers on stand-by and have erected barricades and positioned trucks with water cannons around the parliament building. There have been rumours that the social unrest will give way to a military coup if the Prime Minister does not resign voluntarily.

Korean tensions mount
Tensions between North and South Korea have intensified recently as the South has co-sponsored a UN resolution in the General Assembly’s human rights committee criticizing North Korea’s human rights abuses. The North responded by threatening to shut down its border with the South because of Seoul’s antagonistic approach to relations between the two countries. It seems tensions between the two sides will not die down anytime soon as general antipathy exists between the two sides. Further US nuclear talks with North Korea are expected to take place on December 8th.

Dalai Lama rules out retirement
The Dalai Lama has ruled out retirement and reaffirmed his support for his “Middle Way” approach to China. Hospitalized earlier this year, many have raised questions about his continuity as the spiritual leader of Tibet. However, he confirmed he will not relinquish his position and his “Middle Way” approach, a policy that does not mean total independence but a greater autonomy within China. There has been much frustration regarding his approach since there has been no significant progress recently with Chinese officials and the Dalai Lama ordered a review of his own policy. After a 6 day meeting, Tibetan exiles have confirmed this policy is the best option for the country and should be continued to be pursued.