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"United We Stand"

 

Asian American Business Roundtable (AABR)
 
Rawlein G. Soberano. Ph.D., President
 
20224 Thunderhead Way Suite B
Germantown, MD 20874
 
Phone: (301) 601-9038
Toll Free: 1-866-215-4365 (PIN# 4766)
Fax: (301) 601-9430
Email: aabr89@aol.com
 
 
 

AABR Business Bulletin

      Electronic Newsletter

     Vol. 88 No. 175                                                      November 1, 2007

General    Private Sector    Federal Government    International    Miscellaneous

 I. General                    Member Login

(this section available to paid members only) - TO SUBSCRIBE, CLICK HERE

II. Private Sect           Member Login

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 III. Federal Government       Member Login

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IV. International

 

               

IV. International (11-01-07)

 

. Militants have been flooding to Afghanistan in the past 2 to 3 months since Pakistan began an offensive in pro-Taliban tribal areas in the mountainous border region straddling the two countries. Its defense minister complained the coalition members (Germany, Italy & Japan) have made only half-hearted efforts in rebuilding its security institutions.

    . Malaysia’s first astronaut (Sheikh M. Shukor) landed safely back in Kazakhstan to a hero’s welcome with two Russian cosmonauts after spending 11 days in space, officials said.

    . Australia’s P.M. John Howard has been hailed by Pres. Bush as a “man of steel.” He has presided over an economy that is entering its 17th consecutive year of growth and raised his country’s international profile by sending troops to Afghanistan, Iraq and East Timor. 

   

. The Chinese government launched an unusually harsh crackdown on potential trouble makers, say Chinese and international human rights groups. Scores of petitioners, democracy activists, religious figures and human rights workers have been abducted, imprisoned or confined in their homes over the past six weeks.

    . There are 73 million members of the Chinese Communist Party today. The ideologues who served Mao Zedong and demanded blind loyalty have been replaced by colorless technocrats, including current party chief Hu Jintao. They pursue cautious policies to keep the economy booming while preserving social stability and guarding party’s monopoly to power.

    . One in twenty Chinese belong to the Party; they see it as a resume’ builder. Those who want to join are required to steep themselves in Communist dogma. They have to complete a course in Party doctrine and compose quarterly “thought reports” that demonstrate their dedication.

    . Top government jobs and positions in the army’s officer corps are nearly all reserved for members of the Party. But there are concrete advantages for any members that flow from a ready network of contacts – guanxi in Chinese – on which society thrives. This explains why about 30% of China’s 800 wealthiest people, including some billionaires, are members. Party connection helps them build their business.

 

. A KMT (Taiwan) youth corps bearing flags attempted to provoke DPP supporters of the UN torch relay, but was pushed away by police, whom it accused of stealing the flags.

    . Broadcasting Corp of China (BCC) chair Jaw Shaw-Kong said he would terminate his contract with Hua Hsia Investment Holding Co. over the purchase of BCC, over what he called “relentless persecution” from the government.

    . HannStar Display Corp, one of the nation’s liquid-crystal-display (LCD) panel makers, posted record high quarterly profit in Q3 as prices rose on strong demand.

     

. The Dalai Lama is universally popular in Tibet which China has ruled with a heavy hand since its communist-led forces invaded in 1951. He has been based in India since fleeing his Himalayan kingdom in 1959 amid a failed uprising against Chinese rule. Beijing reviles him and claims he seeks to destroy China’s sovereignty (after invading and absorbing his country?).

    . Police in the Tibetan capital (Lhasa) clashed for 4 days with Buddhist monks trying to celebrate the Dalai Lama’s receipt of the Congressional Gold Medal in Washington, reported the Ming Pao in Hong Kong.

    . China accused the Dalai Lama of causing an attack on its embassy in New Delhi, a day after criticizing the US Congress over plans to award its highest civilian honor to the exiled Tibetan Buddhist leader. About 30 Tibetan exiles chained themselves to a flag pole. Other sprayed “Free Tibet” in red paint on embassy walls.

 

. This year’s Tokyo Motor Show is the first in 10 years to feature both general and commercial vehicles. The 241 participating companies are displaying 542 vehicles, including 77 marking world premieres.

   . Four high-ranking employees of scandal-plagued NOVA Co. (English-conversation school chain) resigned and has been plagued in recent weeks by labor troubles brought on by not paying teachers and forced closure of schools because they couldn’t pay rent.

    . Honda Motor Co, Japan’s second largest carmakers, said its profit forecast after a weaken yen and higher sales of fuel efficient Civic and Accord models helped quarterly earnings beat estimates.

 

. South Korea plans to finalize its timetable for withdrawal of its 1,200 soldiers from Iraq amid press reports the Asian country is pushing to extend troop dispatch for another year.  The troop level was at 3,600 in 2003, and gradually declined amid rising public opposition to the mission.

    . A lawyer turned politician (Rhee In-je) won the presidential nomination of his Democratic Party from his party’s month-long primaries. Liberal forces have aligned with each other to field a unified candidate believing it’s the only way to defeat the Grand National Party.

    . Over the past 13 years, Hyundai Motor Co. has invested $655 million developing new engines and

expanding its commercial vehicle plants. Small, mid-size and large-size buses & trucks with new & upgraded

engines will be placed on the market for November this year.

 

. Filipinos see in the Thai saga much of what they had contended under former Pres. Joseph Estrada and Gloria Macapagal-Arroyo (GMA) who replaced him. Her ascent to the presidency in 2001, after a soft military coup backed by the middle class but resented by the majority poor who had elected Estrada, raised powerful questions of Philippine democracy.

    . Questions over her government’s legitimacy, charges that she and her family are corrupt, and the perception validated by the Supreme Court reprimands that she had been flouting the Constitution to weaken opposition to her government have left Filipinos divided over her full six-year term.

    . GMA won that term in an open election. Her party’s majority control of Congress has defeated all attempts to impeach her. Now she wants to amend the Constitution and shift the country to a parliamentary form of government because under current law she is not eligible to run for reelection as president, but conceivably could as prime minister.

 

. Thailand’s Bangkok-based voters came to loathe former P.M. Thaksin Shinawatra after 5 years in power because of widespread perception that his administration was unusually corrupt and greedy and because his dominant Thai Pak Thai (TRT) party had designs on installing a de-facto one-party system in the country.

    . The poor embraced Thaksin’s populist policies that gave them universal healthcare and debt relief, even without fully explaining how his government would pay for all these gifts down the road.

    . A consensus had built that Thaksin was driving a wedge between rich and poor so as to entrench himself in power. He was forced by massive Bangkok-based anti-government demonstrations to declare snap elections this April. After massive irregularities, poll results were voided and new elections were scheduled for November.

 

. Vietnam’s Oct inflation hit a 3-year high. The price index (CPI) rose 9.34% for last year, the biggest annual growth in nearly three years.

    . France’s Agence Francaise de Developpement and the Asian Development Bank will provide $143.3 million in loans and grants to help Vietnam rebuild rural roads, irrigation systems, and farm infrastructure which has deteriorated over decades due to war, natural disasters and budget constraints.

    . Quang Nam province will allot over 15 hectares of land to German-based Groz Beckert Group which will manufacture machines & equipment for the textile industry. Construction is expected to be completed next year. Once operational it will employ over 400 workers.

 

. The Indian media has claimed that its investigation into the 2002 post Godhra riots in Gujarat has found that the massacre of Muslims was carried out with full knowledge & sanction of Gujarat chief minister (N. Mode).

    . Consumers are at the mercy of merchants who want them to pay the 2%, adding to the price of the item. Most banks do not reverse the charge because it was not done by them but by the merchants.

    . Indians flew the first commercial flight of A380 when Singapore Airlines took the gentle giant from Singapore to Sydney with 485 people on board.

 

. Bowing to international pressure, Pres Pervez Musharraf has restarted an offensive in the remote tribal areas that are rapidly becoming the hub of global terrorism. Yet early indications are that, no matter who is in charge, the Pakistani army is ill-suited, and perhaps incapable of doing the job.

    . Musharraf and P.M. Shaukat Aziz reiterated the resolve of the government to establish peace and maintain law and order in the country.

    . A truck loaded with ammunition and soldiers blasted near Police line when heading towards Tajori. Thirty soldiers and civilians were killed while 9 security personnel and 18 people were seriously wounded. The blast also caused damage to around 25 shops, several vehicles and gas stations.

 

. Tourism accounts for 3% of Sri Lanka’s GNP, according to the manager of research at Asia Securities in Colombo. It is an important source of foreign currency, after tea, textiles and gemstones.

    . Tourist arrivals nose-dived 24% in the first 6 months of this year, as Sri Lanka saw some of the worst fighting in years. The renewed fighting is a blow to the tourist industry of the country which is still recovering from the 2004 tsunami that killed 35k and wrecked hundreds of hotels on the south and east coasts.

    . Inflation rates have reached 20%. Interest rates have also risen. Sri Lanka’s wider economy has proved resilient through the conflict, with growth of 7.4% last year. But new figures show some signs of war damage. The Asian Development Bank forecast its growth this year at 6%. 

 

 

 

 

 

 

V. Miscellaneous   

(this section available to paid members only)  TO SUBSCRIBE, CLICK HERE                                      

Copyright 2006 By:
Rawlein G. Soberano, Ph.D.
President
Asian American Business Roundtable
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