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Why Boeing lost the $40bn tanker deal
Boeing is still smarting after losing out on a US$40 billion US government
contract to build a new aerial refueling tanker jet, believing it had a more
cost-effective product. But that's not the point. The tankers are not just big
flying bladders of fuel. They are a critical component of the George W Bush and
neo-conservative foreign policy of being able to bomb any country, any time.
Crucially, then, the winning design by Northrup-Grumman and the European EADS
aerospace consortium has a fuel cargo capacity almost 25% greater than
Boeing's. - Julian Delasantellis (Mar 10,
'08)
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Iran shifts focus fully on Iraq
Whether it's a part of a secret deal with the United States or not, Iran does
appear to be distancing itself from its proxies in the Arab world, at the same
time showing a free hand in Iraq. The days of Hezbollah in Lebanon could be
numbered. - Sami Moubayed (Mar 10, '08)
An admiral takes on the White
House
Admiral William Fallon, the US's top commander in the Middle East, has
frequently angered the George W Bush administration by saying that the military
option against Iran is "off the table". Fallon believes this is necessary to
calm the very regimes, such as Egypt, the administration hopes to enlist to
support its anti-Iran line. - Gareth Porter (Mar
10, '08)
A new democratic era in
Malaysia
Despite earning 51% of the popular vote, Saturday's general elections were a
stunning setback for Malaysia's long-ruling Barisan Nasional and Prime
Minister Abdullah Badawi. Voters, who in the past may have tolerated corruption
and authoritarianism in exchange for stability, have sent a clear message for
change. If the transition is handled gracefully, Malaysia will have taken an
all-important step in its political development. - Ioannis Gatsiounis
(Mar 10, '08)
Political shift in the
industrial heart
The "jewel in the crown of national politics", the northern state of Penang, is
the center of Malaysia's crucial electronics industry and an established
barometer of the economy as a whole. Until Saturday's landslide opposition win,
it had been a ruling party stronghold for 40 years. Now the new state
government has to overhaul Penang's business culture without short-circuiting
production or sidelining state-linked projects. - Anil Netto
(Mar 10, '08)
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 SPENGLER
Should Islam be blamed
for 'barbaric' acts?
The issue of Muslim "barbarism", including honor killings, genital mutilation
and other forms of violence against women, has risen in prominence in Europe 's
political agenda. The question appears to be: Do Muslims commit barbaric acts
because they are bad Muslims or because they are good Muslims? But it's the
wrong question. (Mar 10, '08)
Helping Taiwan help itself
If Taiwan continues upgrading its defense capabilities, as appears likely
irrespective of March 22 election results, it will be indirectly advancing US
interests in the Pacific, both by stalling China's ambitions for regional
hegemony and as a partner in any security or humanitarian crises. Carefully
managed, a policy of actively helping Taiwan's defense could pay healthy
dividends into America's geopolitical accounts. (Mar
10, '08)
In Iran, fashion as protest
Iran's young, urban and increasingly hip "fashionistas" have little time for
the state-imposed dress code or its enforcers, the so-called morality police.
They'd rather be shopping or grooming at one of Tehran's trendy boutiques
catering to the image obsessed. The more authorities try to enforce the code,
the more it seems Iranians want to push the boundaries of personal fashion.
(Mar 10, '08) |
US's fancy guns are trained on China
Just as the Pentagon and its corporate allies touted the "Soviet threat" during
the Cold War to stampede Congress and the US public into supporting
ever-increasing spending on advanced weapons, so a hypothetical "China threat"
is being conjured up to achieve the same purpose - and it's costing
multi-billions of dollars. - Michael T Klare (Mar
7, '08)
War is hell - and hellishly
expensive
The estimated cost of one week of the United States' global wars is US$3.5
billion. But exactly where is that money going? When Congress passed the latest
Pentagon war-fighting supplemental request, it was said to be "for the troops",
but a surprisingly small amount goes to them. Newfangled weapons, private
security contractors and big business eat up a large portion, yet hundreds of
millions of dollars are unaccounted for. - William D Hartung
(Mar 7, '08)
Pakistan's generals come down hard
Faced with a spike in suicide attacks on the military, Pakistan's top brass
have thrown their weight behind embattled President Pervez Musharraf and his
"war on terror", in the process slamming the door on any chance of
reconciliation with Taliban and al-Qaeda militants. - Syed Saleem Shahzad
(Mar 7, '08)
Suspicions over Singapore
jailbreak
The daring and as-yet unexplained escape of Singapore's most wanted terror
fugitive, Mas Selamat Kastari, has called the island nation's terror-fighting
credentials into question. The government's bumbling has stoked speculation of
a cover-up, and until Mas Selamat is caught foreign confidence in Singapore's
security will be hard to restore. - Alex Au
(Mar 7, '08)
 SEX
IN DEPTH
When freaky-deaky
equals hara-kiri
The population of Japan is in decline, the birthrate is plummeting, and the
consequences look grim. Some studies put the blame on Japanese men whose
appetite for masturbation, sex toys and virtual tete-a-tetes is turning
them off the real thing. The future, one might say, is in their hands. - William
Sparrow (Mar 7, '08)
THE MOGAMBO GURU
Worthless money - guaranteed!
There is no known example, in the history of the world, where a fiat
currency was debased in a wild fractional-reserve multiplication by the greedy
banks that did NOT end badly. And 100% of the time is as close as you can get
to guaranteed. It is time to be frightened. Really frightened.
(Mar 7, '08)
THE ROVING EYE
As alliances shift, Iran wins -
again
The George W Bush administration promoted a Turkey-Israel axis, a Sunni Arab
"axis of fear" and then a Saudi-Israeli nexus, always trying to isolate Iran.
None of these concoctions has worked, and there are even hints that Washington
and Tehran have concluded a secret deal brokered by Saudi Arabia to hammer out
contentious issues. This might be fanciful, but the bottom line is that Iran
sees itself as the ultimate victor of the US war on Iraq. - Pepe Escobar
(Mar 6, '08)
Iran-Iraq ties show US the way
Tehran's enormous influence in Iraq is there to stay, given Iran's proximity
and religious and historical connections, highlighted by President Mahmud
Ahmadinejad's recent visit. This leaves the US with little choice but to adjust
its anti-Iran policy to accommodate Iran's regional clout. - Kaveh L Afrasiabi
(Mar 6, '08)
Why the dollar is so cheap
When George W Bush was inaugurated in 2001, the euro was trading at 94 cents
and gold cost $266 an ounce. Now they are trading at $1.52 and $985 an ounce.
That is a plain vote of no confidence in the government's economic model, and
international investors are fleeing the dollar for the best available
substitute - the euro and gold. - Peter Morici (Mar
6, '08)
INTERVIEW
Anwar Ibrahim
Anwar to Abdullah: It's nothing
personal
Since his release from prison on politically motivated charges, Malaysian
opposition icon Anwar Ibrahim has refashioned his image as a pious crusader for
social justice and racial equality. Critics say Anwar simply tells people what
they want to hear, but the veteran politician tells Ioannis Gatsiounis he's
matured after his time in the political wilderness and he's fed up with what he
sees as the ruling government's incompetence. (Mar
6, '08)
THE SUBPRIME ICEBERG
A year later, the band plays on
A year after the subprime crisis came to public attention, the rot in the
financial system continues to spread, leaving the US Federal Reserve with
at least one very important question to answer - should it come directly to the
rescue? As the Fed and other actors dance the subprime twostep, the tune is
reminiscent of the music on the Titanic as the lifeboats sailed away. - Julian
Delasantellis (Mar 5, '08)
Pakistan's grand bargain falls
apart
Pakistan has no option, given pressure from the United States, but to continue
military operations against Taliban and al-Qaeda militants in the tribal areas.
Yet under a scheme devised by the new top brass, the militants were to be given
an easy ride as long as they retreated to remote border areas. Militants,
initially receptive, have shown through a spate of suicide attacks on the
military in cities across the country that they are having grave second
thoughts. - Syed Saleem Shahzad (Mar
5, '08)
Iran's gas: China waits as India
wavers
 The
possibility of India buying Iranian gas by way of a pipeline running through
mutual neighbor Pakistan has been a talking point for the past decade. Yet as
Islamabad and Tehran prepare to sign a gas purchase agreement this month, India
is holding back amid security concerns and US disapproval of the plan.
Energy-hungry China may seize the opportunity. - Siddharth Srivastava
(Mar 5, '08)
 ASIA
HAND
Mixed
reviews for
Thai capital controls
Thailand's new government, which this week removed capital controls imposed by
its military-led predecessor, seems willing to sacrifice exports for more
domestic demand-led economic growth. Overlooked are other capital controls
still in place, while inflation and the prospect of an ever-stronger currency
will challenge policymakers. - Shawn W Crispin (Mar
5, '08)
Sunnis make merry on US's dime
Iraq's Sunni-dominated Awakening Councils, bankrolled by the United States,
have certainly blunted al-Qaeda, but they continue attacks on US and Iraqi
forces. The Sunnis, using a "fight, bargain, subvert, fight" approach, are all
the while working towards their ultimate goal of the complete withdrawal of US
troops and reducing the power of the Shi'ite-dominated government. - Gareth
Porter (Mar 4, '08)
 SUN
WUKONG
Green whirlwind sweeps China
China's National People's Congress this week upgrades its State Environmental
Protection Administration into a mega-sized environmental ministry. This is
part of a green policy geared to strengthening the country's "toothless tiger"
laws. Whether other departments and provinces cooperate is another matter,
particularly when their own interests are at risk. - Wu Zhong
(Mar 4, '08)
The 'laptop of mass destruction'
The "laptop documents" - 1,000 pages of data allegedly stolen from an Iranian
computer - have been the US's hardest evidence of Iran's supposed intentions to
build a nuclear weapon and an obstacle to the International Atomic Energy
Agency declaring that Iran has resolved all questions about its nuclear
program. Now there are indications the documents were obtained from Israel's
Mossad via a terrorist organization. - Gareth Porter
(Mar 3, '08)
CHAN AKYA
Dead dollar sketch
The demise of the world's reserve currency reads like a financial version of
the infamous Monty Python Dead Parrot sketch. The arguments of US dollar
supporters appear increasingly hollow. The implications are much more
geopolitical than merely economic. (Mar 3, '08)
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 CHAN
AKYA
Euro-trash
Europe's leaders are too busy destroying their economies to notice the grand
opportunity to assume global leadership. The European Central Bank is also far
from being the paragon of virtue that many economists consider it. A failure to
grasp this dynamic means that the rise of the euro against the US dollar will
be in vain.
$15bn loan waiver reaps
Indian harvest of anger
The Indian government's plan to waive US$15 billion of loans owed by farmers
will fail to help the bulk of farmers dependent on loan sharks rather than
banks, say critics. Worse, it does not address the fundamental problems faced
by the sector, such as low, fixed prices for produce and a lack of
infrastructure investment. As a result, an epidemic of suicides will continue.
- Raja M
CREDIT BUBBLE BULLETIN
What is left that is sellable?
Burst credit bubbles, underlined by the Fed's latest Flow of Funds data, and
impairment of US securities mean growth in overseas holdings of US assets has
become unsustainable, forcing the question of how the US will sustain smooth
recycling of its current-account deficits. The concurrent widening of certain
risk premiums and accelerated dollar weakness is no coincidence.
Doug Noland reviews the previous week's events each Monday.
An apple a day will kill you
An apple a day keeps the doctor away, but the cost of munching that pomaceous
health-strengthener is rising and not just by a pip or two but to the very
core. Not just crunchy fruit. A commodity prices benchmark is rising at its
strongest in 52 freaking years! The Hesperidian joy in all this is that the
inflation-adjusted price of gold is also soaring.
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US can fast exit from bad times
The prolonged downturn in the Japanese economy that followed its 1990s' real
estate boom hangs like a specter over the US in its post-housing bubble mess.
Yet there is reason to believe that the US, though as liable as any country to
hubris, greed, mistakes and misunderstanding, will more quickly pull out of its
present quandary.
MARKET RAP
Local
charts handy
in troubled waters
The siren song of an Ambac Financial bail-out was an unreliable guide for US
investors seeking passage through this week's trading shoals. Investors across
Asia also shipped water, but their experience of quieter eddies points to a
continued divergence of currents in the world's financial markets.
R M Cutler runs his eye over the ups and downs in the past week's
markets. (Mar 7, '08)
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Microsoft's pants down
Microsoft's top executives have at least one thing in common with their
customers - deep disenchantment with the company's latest products. Email
exchanges at the top also reveal that the software giant lowered its own
requirements so that partner Intel could maintain earnings.
(Mar 7, '08)
Martin J Young
surveys the week's developments in computing,
gaming and gizmos.
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ATol Specials
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The
Gates
Inheritance
By
Roger Morris
(June '07) |
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Syed Saleem Shahzad reports on
the Afghan war from the Taliban side
(Dec '06)
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How
Hezbollah defeated Israel
By
Mark Perry and
Alastair Crooke
(Oct '06)
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Mark
Perry and
Alastair Crooke
talk to the 'terrorists'
(Mar '06)
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China:
The
Impossible
Revolution
By
Francesco Sisci
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The Coming
Trade War
By Henry C K Liu
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A series
by Henry C K Liu
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Sinoroving
Pepe Escobar in China
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Money, Power
and
Modern Art
A series by Henry C K Liu
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Andre Gunder Frank on Uncle Sam and his
shrinking dollar
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By Pepe Escobar with
photographs by Kevin Nortz
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Nir Rosen goes inside the Iraqi
resistance
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Nir Rosen rides with the US 3rd
Armored Cavalry in western Iraq
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All material on this
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permission.
Copyright 1999 - 2008 Asia Times Online
(Holdings), Ltd.
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Office: Unit B, 16/F, Li Dong Building, No. 9 Li Yuen Street East,
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