The election of Bobby Jindal as governor of the US state of Louisiana has been greeted exultantly by Indians and Indian-A m e r i c a n s around the world. There’s no question that this is an extraordinary accomplishment: a young Indian-American, just 36 years old, not merely winning an election but doing so on the first ballot by receiving more votes than his 11 rivals combined, and that too in a state not noticeably friendly to minorities. Bobby Jindal will now be the first Indian-American governor in US history, and the youngest currently serving chief executive of an American state. These are distinctions of which he can legitimately be proud of. But is our pride misplaced? Who is Bobby Jindal and what does he really stand for? There are, broadly speaking, two kinds of Indian migrants in America: though no sociologist, i’ll call them the atavists and the assimilationists. The atavists hold on to their original identities as much as possible, especially outside the workplace; in speech, dress, food habits, cultural preferences, they are still much more Indian than American. The assimilationists, on the other hand, seek assiduously to merge into the American mainstream; they acquire a new accent along with their visa, and adopt the ways, clothes, diet and recreational preferences of the Americans they see around them. (Of course, there are the in-betweens, but we’ll leave them aside for now.) Class has something to do with which of the two major categories an Indian immigrant falls into; so does age, since the newer generation of Indians, especially those born in America, inevitably tend to gravitate to the latter category. Bobby Jindal is an assimilationist’s dream. Born to relatively affluent professionals in Louisiana, he rejected his Indian name (Piyush) as a very young child, insisting that he be called Bobby, after a (white) character on the popular TV show ‘The Brady Bunch’. His desire to fit in to the majority-white society he saw around him soon manifested itself in another act of rejection: Bobby spurned the Hindusim into which he was born and, as a teenager, converted to Roman Catholicism, the faith of most white Louisianans. There is, of course, nothing wrong with any of this, and it is a measure of his precocity that his parents did not balk at his wishes despite his extreme youth. The boy was clearly gifted, and he soon had a Rhodes scholarship to prove it. But he was also ambivalent about his identity: he wanted to be seen as a Louisianan, but his mirror told him he was also an Indian. The two of us won something called an ‘Excelsior Award’ once from the Network of Indian Professionals in the US, and his acceptance speech on the occasion was striking — obligatory references to the Indian values of his parents, but a speech so American in tone and intonation that he mangled the Indian name of his own brother. But there are many ways to be American, and it’s interesting which one Bobby chose. Many Indians born in America have tended to sympathise with other people of colour, identifying their lot with other immigrants, the poor, the underclass. Vinita Gupta, in Oklahoma, another largely white state, won her reputation as a crusading lawyer by taking up the case of illegal immigrants exploited by a factory owner (her story will shortly be depicted by Hollywood, with Halle Berry playing the Indian heroine). Bhairavi Desai leads a taxi drivers’ union; Preeta Bansal, who grew up as the only non-white child in her school in Nebraska, became New York’s Solicitor General and now serves on the Commission for Religious Freedom. None of this for Bobby. Louisiana’s most famous city, New Orleans, was a majority black town, at least until Hurricane Katrina destroyed so many black lives and homes, but there is no record of Bobby identifying himself with the needs or issues of his state’s black people. Instead, he sought, in a state with fewer than 10,000 Indians, not to draw attention to his race by supporting racial causes. Indeed, he went well beyond trying to be non-racial (in a state that harboured notorious racists like the Ku Klux Klansman David Duke); he cultivated the most conservative elements of white Louisiana society. With his widely-advertised piety (he asked his Indian wife, Supriya, to convert as well, and the two are regular churchgoers), Bobby Jindal adopted positions on hot-button issues that place him on the most conservative fringe of the Republican Party. Most Indian-Americans are in favour of gun control, support a woman’s right to choose abortion, advocate immigrants’ rights, and oppose school prayer (for fear that it would marginalise non-Christians). On every one of these issues, Bobby Jindal is on the opposite side. That hasn’t stopped him, however, from seeking the support of Indian-Americans. Bobby Jindal has raised a small fortune from them, and when he last ran (unsuccessfully) for governor in 2004, an army of Indian-American volunteers from outside the state turned up to campaign for him. Many seemed unaware of his political views; it was enough for them that he was Indian. At his Indian-American fundraising events, Bobby is careful to downplay his extreme positions and play up his heritage. Indian-Americans, by and large, accept this as the price of political success in white America: it’s just good to have “someone like us” in such high office, whatever views he professes to get himself there. So Indians beam proudly at another Indian-American success story to go along with Kalpana Chawla and Sunita Williams, Hargobind Khorana and Subramaniam Chandrasekhar, Kal Penn and Jhumpa Lahiri. But none of these Indian Americans expressed attitudes and beliefs so much at variance with the prevailing values of their community. Let us be proud that a brown-skinned man with an Indian name has achieved what Bobby Jindal has.
(Courtesy - ShashiTharoor, Times of India)
Monday, October 29, 2007
The Sensex story: From 1K to 20K
It was a terrific day for the Indian markets. The Sensex conquered the 20,000-mark on the back of frantic buying by foreign and local investors in blue-chip stocks. The Sensex made history after it hit an all-time intra-day high of 20,024.87 points during the last five minutes of trading on Monday.The index took only 10 days to gain 1,000 points after it crossed the 19,000-mark on October 15.
The major drivers of Monday's rally were index heavyweights Larsen and Toubro, Reliance Industries , ICICI Bank, HDFC Bank and SBI among others.
With today's landmark, Sensex has joined the 20,000-point club, whose other members are Hong Kong's Hang Seng, Brazil's Bovespa and Mexico's Bolsa among others.The Sensex crossed three milestones in October as it breached the 18K on October 9, 19K on October 15 and 20K today!
(See below for the timeline)
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.
1000, July 25, 1990
On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.
2000, January 15, 1992
On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992
On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992
On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999
On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000
On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
7000, June 20, 2005
On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital , and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005
On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005
The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 6, 2006
The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 21, 2006
The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006
The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006
The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006
The Sensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
15,000, July 6, 2007
The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points. 16,000, September 19, 2007The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange's sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points. The Sensex finally ended with its biggest-ever single day gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732. 17,000, September 26, 2007The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the day's high. The Sensex ended with a gain of 22 points at 16,921.
18,000, October 09, 2007The BSE Sensex crossed the 18,000-mark on October 09, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.
19,000, October 15, 2007
The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059.The Nifty gained 242 points to close at 5,670.
20,000, October 29, 2007
The Sensex crossed the 20,000 mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting. The index took only 10 trading days to gain 1,000 points after the index crossed the 19,000-mark on October 15. The major drivers of today's rally were index heavyweights Larsen and Toubro, Reliance Industries, ICICI Bank, HDFC Bank and SBI among others. The 30-share index spurted in the last five minutes of trade to fly-past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points. The NSE Nifty rose to a record high 5,922.50 points before ending at 5,905.90, showing a hefty gain of 203.60 points.
Source - Rediff
The major drivers of Monday's rally were index heavyweights Larsen and Toubro, Reliance Industries , ICICI Bank, HDFC Bank and SBI among others.
With today's landmark, Sensex has joined the 20,000-point club, whose other members are Hong Kong's Hang Seng, Brazil's Bovespa and Mexico's Bolsa among others.The Sensex crossed three milestones in October as it breached the 18K on October 9, 19K on October 15 and 20K today!
(See below for the timeline)
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.
1000, July 25, 1990
On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.
2000, January 15, 1992
On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992
On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992
On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999
On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000
On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
7000, June 20, 2005
On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital , and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005
On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005
The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 6, 2006
The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 21, 2006
The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006
The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006
The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006
The Sensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
15,000, July 6, 2007
The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points. 16,000, September 19, 2007The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange's sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points. The Sensex finally ended with its biggest-ever single day gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732. 17,000, September 26, 2007The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the day's high. The Sensex ended with a gain of 22 points at 16,921.
18,000, October 09, 2007The BSE Sensex crossed the 18,000-mark on October 09, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.
19,000, October 15, 2007
The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059.The Nifty gained 242 points to close at 5,670.
20,000, October 29, 2007
The Sensex crossed the 20,000 mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting. The index took only 10 trading days to gain 1,000 points after the index crossed the 19,000-mark on October 15. The major drivers of today's rally were index heavyweights Larsen and Toubro, Reliance Industries, ICICI Bank, HDFC Bank and SBI among others. The 30-share index spurted in the last five minutes of trade to fly-past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points. The NSE Nifty rose to a record high 5,922.50 points before ending at 5,905.90, showing a hefty gain of 203.60 points.
Source - Rediff
Tuesday, October 23, 2007
Arsenal footbal Club article on its Football riches carefully planned by Wenger
The media is full of rumours at the moment regarding the future of Arsenal’s Brazilian midfielder Gilberto da Silva.
The 30-year-old, who signed for the Gunners in 2002, has been reportedly attracting interest from big clubs in Italy and it would surprise many if he did leave, especially after last season when he produced his best form in Arsenal colours.
Having said that, he is 30 years old and still under contract. If he were to stay he would only get a one year deal and not playing regularly would clearly not suit his career. The way Matthieu Flamini has started the season, it seems highly unlikely the Brazilian will feature much even though he has performed well in the centre of defence that can only ever be as a stop gap measure.
There is an argument that having Gilberto warming the bench keeps the younger players such as Flamini on their toes, the thinking being that if the rising stars doesn’t perform then the experienced Brazilian will come in and he will. Nice idea but it tends to contradict the Wenger way.
With the exception of Denis Bergkamp, and with such an exceptional payer you should make exceptions, once an outfield player reaches 30 something Arsene looks to ease him out. Look at Thierry Henry, Patrick Vieria, Sylvian Wiltord and Robert Pires.
Young players at Arsenal know that if they’re good enough they’ll get a chance. And this crop of youngsters knows that if they don’t pull their weight on the pitch then waiting in the reserves is someone who will.
Flamini is worried, of course he is. But perhaps what worries him most is not the aging Gilberto but Abou Diaby, the Vieria look alike who has been forced wide because of his French colleague’s form. For while Diaby has been playing regularly this season he is not by nature a wide man, note his tendency to cut inside at every opportunity.
If I know Diaby is no natural wide player then you can be sure he knows it too. And he knows just why he’s playing there. If his standards were to drop just slightly then waiting, in the wings – quite literally – to take his place is Theo Walcott.
Even the mercurial Catalan Cesc Fabregas is nervous. If he fails to maintain his ever growing standards then he’s out and in will come Denilson, another Brazilian who has shone in fleeting appearances.
If either of Flamini or Diaby struggle then there is always Plan C. Lassana Diarra, Arsenal’s deadline day signing from Chelsea who is adept at sitting in front of the back four and doing the simple stuff.
Oh, and I haven’t mentioned Tomas Rosicky and Alexander Hleb yet!
In recent years, ever since the unbeaten run came to an end at Old Trafford when Manchester United kicked first, played second, there has been a feeling that Arsenal have a soft centre.
Not any more. And the whole lot cost less than one Darren Bent!
Courtesy - Antony Sutton (http://www.espnstar.com/)
The 30-year-old, who signed for the Gunners in 2002, has been reportedly attracting interest from big clubs in Italy and it would surprise many if he did leave, especially after last season when he produced his best form in Arsenal colours.
Having said that, he is 30 years old and still under contract. If he were to stay he would only get a one year deal and not playing regularly would clearly not suit his career. The way Matthieu Flamini has started the season, it seems highly unlikely the Brazilian will feature much even though he has performed well in the centre of defence that can only ever be as a stop gap measure.
There is an argument that having Gilberto warming the bench keeps the younger players such as Flamini on their toes, the thinking being that if the rising stars doesn’t perform then the experienced Brazilian will come in and he will. Nice idea but it tends to contradict the Wenger way.
With the exception of Denis Bergkamp, and with such an exceptional payer you should make exceptions, once an outfield player reaches 30 something Arsene looks to ease him out. Look at Thierry Henry, Patrick Vieria, Sylvian Wiltord and Robert Pires.
Young players at Arsenal know that if they’re good enough they’ll get a chance. And this crop of youngsters knows that if they don’t pull their weight on the pitch then waiting in the reserves is someone who will.
Flamini is worried, of course he is. But perhaps what worries him most is not the aging Gilberto but Abou Diaby, the Vieria look alike who has been forced wide because of his French colleague’s form. For while Diaby has been playing regularly this season he is not by nature a wide man, note his tendency to cut inside at every opportunity.
If I know Diaby is no natural wide player then you can be sure he knows it too. And he knows just why he’s playing there. If his standards were to drop just slightly then waiting, in the wings – quite literally – to take his place is Theo Walcott.
Even the mercurial Catalan Cesc Fabregas is nervous. If he fails to maintain his ever growing standards then he’s out and in will come Denilson, another Brazilian who has shone in fleeting appearances.
If either of Flamini or Diaby struggle then there is always Plan C. Lassana Diarra, Arsenal’s deadline day signing from Chelsea who is adept at sitting in front of the back four and doing the simple stuff.
Oh, and I haven’t mentioned Tomas Rosicky and Alexander Hleb yet!
In recent years, ever since the unbeaten run came to an end at Old Trafford when Manchester United kicked first, played second, there has been a feeling that Arsenal have a soft centre.
Not any more. And the whole lot cost less than one Darren Bent!
Courtesy - Antony Sutton (http://www.espnstar.com/)
Wednesday, October 17, 2007
Tuesday, October 16, 2007
Why China will not allow democracy in Myanmar
Source - Rediff.com; Claude Arpi (A very Interesting Read)
In Burma, the situation seems to be settling down. Is it for the good of the people? That is another question.
Anyhow, the brutal generals and Aung Saan Suu Kyi, the Nobel Peace Prize laureate, have agreed to talk. Media reports say the 'two fiercely opposed sides take cautious, conciliatory steps to end the two-decade long deadlock'. Suu Kyi's party is ready to make some 'adjustment' while the junta is prepared to nominate a 'mild' general to hold talks with the democracy leader.
The 'negotiations' will probably lead nowhere but the generals, and behind them their mentors in Beijing [Images], need some breathing space at a time when international pressure is mounting and the Olympic Games, with the sacrosanct Truce, are in sight.
For decades, China has been the major factor in the Burmese tragedy for various reasons. First and foremost are the economic considerations. Generally, Beijing finds it more expedient to do business with totalitarian regimes such as Sudan or Burma. Chinese business strives when Western (and Asian) companies' concurrence is absent due to international sanctions. In Burma today, not only is the Chinese government involved in mega projects (such as the oil pipeline to Kunming in Yunnan province), but the Chinese Diaspora runs everything from grocery to retail shops or restaurants in all major cities as well as in remote provincial towns. It is true that China has no problems with human rights violations, labour standards or other ethical issues; in their own country, similar issues are also side tracked to make place for the economic boom.
The problem is that the benefits for the Burmese people are short term and restricted to very few in the entourage or families of the ruling clique. In the long run, as in Baluchistan or Africa, the local population realises that they are subject to a new form of colonisation, but what can they do?
Beijing has a number of economic interests in Burma. Dr Kanbawza Win, a former secretary of foreign affairs of the prime minister of Burma, now a professor in the School of International Studies in British Columbia University wrote: 'Economically, China's presence, particularly in northern Burma, has exploded. In 15 years cross-border trade went from $ 15 million to over $ 1 billion. A flood of inexpensive Chinese goods now dominate the Burmese consumer market.' He quoted a foreign correspondent, Bertil Lintner, who interviewed a Chinese resident describing 500 military trucks crossing the Sino-Burmese border heading for South Burma. This trend started soon after the crushing of the student revolt in 1988. As a result, a city like Mandalay is today a Chinese city run by Chinese money. It explains why Suu Kyi has no option but to compromise with the junta and the Big Brother behind.
Another issue is the demographical change tolerated by the junta during the last two decades. In a strategy which is very similar to the one in Tibet (especially after the arrival of the train), Beijing plans to change Burma's demography, making the nation a Chinese colony.
It is officially estimated that more than one million farmers, businessmen or workers have migrated to Burma during the last 10 years alone. Some say that the official figure should be multiplied by three to be closer to reality. Imagine what would happen if tomorrow Burma became a democratic nation and a nationalist leader would take over the reins of the nation's destiny. A backlash would certainly happen and most immigrants might be sent back to where they come from. What would happen next? Yunnan province of Western China (from where the migrants originate) would experience unemployment, social unrest and probably riots (let us not forget that China last year witnessed 100,000 riots, big and small, mainly about unemployment and environmental issues).
Western democracies have been vociferous about the 'democratic' process in Burma. To take France's [Images] example, the spokesperson of the ministry of foreign affairs stated: 'The Burmese people cannot bear anymore to have been deprived for the past 20 years of the most elementary rights; further the people wish to be assured of decent life conditions.' It warned the junta that 'the generals will be fully accountable for the security of the protesters in front of the international community.' These are nice words, probably useful for Beijing to hear, but the question has wider ramifications, especially given the opening of the 17th Congress of the Chinese Communist Party in Beijing today.
But democracy will not be on the agenda of the Congress.
While promoting the building of a harmonious society, Hu Jintao has first to make sure that the different political blocs and social-economic alliances get their share of the economic progress and that his prot�g�s are in key positions. He will therefore state the usual platitudes, such as 'boosting the people's participation in politics in an orderly and incremental fashion'. But less than a year before the Olympic Games, the situation remains far from clear on the ground.
Hu is scheduled to repeat several sections of a speech delivered to the Central Party School in late June. He will introduce to the Chinese deputies his new concept, the 'Four Insistences'. The Communist Party 'unswervingly insists' on four objectives: 'thought liberation', 'reform and open-door policy', the 'theory of scientific development and constructing social harmony', and 'the materialisation of comprehensive prosperity'.
Even our Indian comrades may not see the difference between the previous Four Cardinal Principles (Marxism-Leninism and Mao Zedong Thought, party leadership, the socialist road, and 'democratic proletarian dictatorship') and the Four Insistences, but this jargon is probably the best way to diffuse a far more serious time bomb, the introduction of democracy in China.
The China Brief of the Jamestown Institute recently quoted Du Daozheng, publisher of the liberal journal Yanhuang Chronicles who wrote: 'A number of liberal cadres, including those who had served under Hu Yaobang and the late Zhao Ziyang, another reformist party chief, are lobbying with the party leadership to make significant commitments to political change.'
The Politburo and its Standing Committee may not be the one-block it appears from outside. Disciples of progressive leaders such Hu Yaobang and Zhao Ziyang are still around. One remembers seeing Premier Premier Wen Jiabao (today apparently an ally of President Hu) behind his mentor and Secretary General of the Party, Zhao Ziyang, when the latter tried to compromise with the students on Tiananmen Square in May 1989.
In an article published by the Xinhua News Agency in February 26, 2007, Wen said that 'science, democracy, the legal system, freedom and human rights are not something peculiar to capitalism.' He went a step further when he stated: 'Rather, they are common values pursued by [all] mankind', 'the philosophical precept of harmony without uniformity' and 'people are the foundation of the nation.'
Ironically, when he made a similar statement at a press conference after the plenary session of the National People's Congress a month later, several of his remarks disappeared from the official transcript published by The People's Daily.This tends to demonstrate that a debate still exists in China, though Hu's main objective in the Congress is to consolidate his power base. As Xinhua put it, the party must raise its guard against 'non-Marxist ideological trends' and 'cacophonous and impure noises', in other words democracy.
In these circumstances, it is doubtful that Beijing will allow any 'democratic' experiment in Burma, for it could have too serious implications within Communist China.
In the meantime, the Chinese government is reported to have earmarked 10 billion yuan ($1.3 billion) to boost China's internet police squads. In anticipation of the Olympics [Images], a large number of too outspoken web sites and blogs have already been closed down.
In a recent speech, Hu asserted: 'Morality is a key factor to the country's development, social harmony and the people's happiness.'
Well, it depends on what one calls 'morality'. The frail Aung San Suu Kyi may not have the same definition.
In Burma, the situation seems to be settling down. Is it for the good of the people? That is another question.
Anyhow, the brutal generals and Aung Saan Suu Kyi, the Nobel Peace Prize laureate, have agreed to talk. Media reports say the 'two fiercely opposed sides take cautious, conciliatory steps to end the two-decade long deadlock'. Suu Kyi's party is ready to make some 'adjustment' while the junta is prepared to nominate a 'mild' general to hold talks with the democracy leader.
The 'negotiations' will probably lead nowhere but the generals, and behind them their mentors in Beijing [Images], need some breathing space at a time when international pressure is mounting and the Olympic Games, with the sacrosanct Truce, are in sight.
For decades, China has been the major factor in the Burmese tragedy for various reasons. First and foremost are the economic considerations. Generally, Beijing finds it more expedient to do business with totalitarian regimes such as Sudan or Burma. Chinese business strives when Western (and Asian) companies' concurrence is absent due to international sanctions. In Burma today, not only is the Chinese government involved in mega projects (such as the oil pipeline to Kunming in Yunnan province), but the Chinese Diaspora runs everything from grocery to retail shops or restaurants in all major cities as well as in remote provincial towns. It is true that China has no problems with human rights violations, labour standards or other ethical issues; in their own country, similar issues are also side tracked to make place for the economic boom.
The problem is that the benefits for the Burmese people are short term and restricted to very few in the entourage or families of the ruling clique. In the long run, as in Baluchistan or Africa, the local population realises that they are subject to a new form of colonisation, but what can they do?
Beijing has a number of economic interests in Burma. Dr Kanbawza Win, a former secretary of foreign affairs of the prime minister of Burma, now a professor in the School of International Studies in British Columbia University wrote: 'Economically, China's presence, particularly in northern Burma, has exploded. In 15 years cross-border trade went from $ 15 million to over $ 1 billion. A flood of inexpensive Chinese goods now dominate the Burmese consumer market.' He quoted a foreign correspondent, Bertil Lintner, who interviewed a Chinese resident describing 500 military trucks crossing the Sino-Burmese border heading for South Burma. This trend started soon after the crushing of the student revolt in 1988. As a result, a city like Mandalay is today a Chinese city run by Chinese money. It explains why Suu Kyi has no option but to compromise with the junta and the Big Brother behind.
Another issue is the demographical change tolerated by the junta during the last two decades. In a strategy which is very similar to the one in Tibet (especially after the arrival of the train), Beijing plans to change Burma's demography, making the nation a Chinese colony.
It is officially estimated that more than one million farmers, businessmen or workers have migrated to Burma during the last 10 years alone. Some say that the official figure should be multiplied by three to be closer to reality. Imagine what would happen if tomorrow Burma became a democratic nation and a nationalist leader would take over the reins of the nation's destiny. A backlash would certainly happen and most immigrants might be sent back to where they come from. What would happen next? Yunnan province of Western China (from where the migrants originate) would experience unemployment, social unrest and probably riots (let us not forget that China last year witnessed 100,000 riots, big and small, mainly about unemployment and environmental issues).
Western democracies have been vociferous about the 'democratic' process in Burma. To take France's [Images] example, the spokesperson of the ministry of foreign affairs stated: 'The Burmese people cannot bear anymore to have been deprived for the past 20 years of the most elementary rights; further the people wish to be assured of decent life conditions.' It warned the junta that 'the generals will be fully accountable for the security of the protesters in front of the international community.' These are nice words, probably useful for Beijing to hear, but the question has wider ramifications, especially given the opening of the 17th Congress of the Chinese Communist Party in Beijing today.
But democracy will not be on the agenda of the Congress.
While promoting the building of a harmonious society, Hu Jintao has first to make sure that the different political blocs and social-economic alliances get their share of the economic progress and that his prot�g�s are in key positions. He will therefore state the usual platitudes, such as 'boosting the people's participation in politics in an orderly and incremental fashion'. But less than a year before the Olympic Games, the situation remains far from clear on the ground.
Hu is scheduled to repeat several sections of a speech delivered to the Central Party School in late June. He will introduce to the Chinese deputies his new concept, the 'Four Insistences'. The Communist Party 'unswervingly insists' on four objectives: 'thought liberation', 'reform and open-door policy', the 'theory of scientific development and constructing social harmony', and 'the materialisation of comprehensive prosperity'.
Even our Indian comrades may not see the difference between the previous Four Cardinal Principles (Marxism-Leninism and Mao Zedong Thought, party leadership, the socialist road, and 'democratic proletarian dictatorship') and the Four Insistences, but this jargon is probably the best way to diffuse a far more serious time bomb, the introduction of democracy in China.
The China Brief of the Jamestown Institute recently quoted Du Daozheng, publisher of the liberal journal Yanhuang Chronicles who wrote: 'A number of liberal cadres, including those who had served under Hu Yaobang and the late Zhao Ziyang, another reformist party chief, are lobbying with the party leadership to make significant commitments to political change.'
The Politburo and its Standing Committee may not be the one-block it appears from outside. Disciples of progressive leaders such Hu Yaobang and Zhao Ziyang are still around. One remembers seeing Premier Premier Wen Jiabao (today apparently an ally of President Hu) behind his mentor and Secretary General of the Party, Zhao Ziyang, when the latter tried to compromise with the students on Tiananmen Square in May 1989.
In an article published by the Xinhua News Agency in February 26, 2007, Wen said that 'science, democracy, the legal system, freedom and human rights are not something peculiar to capitalism.' He went a step further when he stated: 'Rather, they are common values pursued by [all] mankind', 'the philosophical precept of harmony without uniformity' and 'people are the foundation of the nation.'
Ironically, when he made a similar statement at a press conference after the plenary session of the National People's Congress a month later, several of his remarks disappeared from the official transcript published by The People's Daily.This tends to demonstrate that a debate still exists in China, though Hu's main objective in the Congress is to consolidate his power base. As Xinhua put it, the party must raise its guard against 'non-Marxist ideological trends' and 'cacophonous and impure noises', in other words democracy.
In these circumstances, it is doubtful that Beijing will allow any 'democratic' experiment in Burma, for it could have too serious implications within Communist China.
In the meantime, the Chinese government is reported to have earmarked 10 billion yuan ($1.3 billion) to boost China's internet police squads. In anticipation of the Olympics [Images], a large number of too outspoken web sites and blogs have already been closed down.
In a recent speech, Hu asserted: 'Morality is a key factor to the country's development, social harmony and the people's happiness.'
Well, it depends on what one calls 'morality'. The frail Aung San Suu Kyi may not have the same definition.
Tuesday, October 09, 2007
I like the quote, it has got a great meaning with some simple English
Every morning in Africa, a gazelle wakes up. It knows it must outrun the
fastest lion or it will be killed. Every morning in Africa, a lion wakes up.
It knows it must run faster than the slowest gazelle, or it will starve. It
doesn't matter whether you're a lion or a gazelle- when the sun comes up,
you'd better be running.
fastest lion or it will be killed. Every morning in Africa, a lion wakes up.
It knows it must run faster than the slowest gazelle, or it will starve. It
doesn't matter whether you're a lion or a gazelle- when the sun comes up,
you'd better be running.
Thursday, October 04, 2007
What is Financial Terrorism ?
Financial Terrorism is nothing but new found wave of the influence of money to propagate terrorism activities. Financial terrorism is nothing but terrorist funds coming into the country in the form of hawala transfers, foreign contributions and religious donations. Financial terrorism has become a major concern for the intelligence agencies and the police. The Financial Intelligence Bureau had pointed out the large number of funds that were entering into the country from terrorist outfits in order to carry out terror attacks. Goverment of India has a dedicated cell to track such money inflows and outflows named as Financial Intelligence Bureau(FIU). According to the latest data from FIU the number of suspicious and malicious money transactions for the year 2007 has already surpassed the 2006 data. So it is alarming. Hence when the whole of India is euphoric with each passing record breaking stock market performance their is a cause for some skepticism on the genuinity of the money that is being supplied around. It also involves all other known money flow methods like fake notes etc. where the usage of technology are being improved upon a lot which is very diffciult to judge for a common man as to which is the original and which one is the duplicate.
Ajit
Ajit
Piggybacking on a ninja with exploding arms - US subprime rate views.
The Indian Housing Finance and Real Estate market has a lot to learn from the US Sub prime crisis. I happen to read a very interesting point of view put by Mr. Deepak Parekh (Chairman HDFC and one of the pioneering financial thinkers that India has ever produced). Here are some of the excerpts -
The US sub prime mortgage crisis is likened to Piggybacking on a 'Ninja' with 'exploding arms'. A piggyback loan is a second mortagage enabling a borrower to buy a house with little or no equity. 'NINJA' is an acronyn for borrowers with no income, no job, or assets while 'exploding ARMS' are mortgages with initial low, fixed interest rates which escalate to a high floating rate after a period of 2 or 3 years.
The US sub prime rate crisis is a result of a vicious circle where all involved have to take the blame and responsibility, be it the borrower, lender, investor, advertiser, people who rate the quality of the mortagages and even the regulator and market (both US/global - as they purposely failed to see this crisis coming).
Actually Indian market unlike the other big global financial markets have been fairly insulated from this crisis as we do not have any sub prime rates as such and our central bank - RBI(Reserve Bank of India) was quite proactive in seeing a prospective housing loan bubble or over heat happening in the near term and quickly took steps to correct them.
Thanks
Ajit
The US sub prime mortgage crisis is likened to Piggybacking on a 'Ninja' with 'exploding arms'. A piggyback loan is a second mortagage enabling a borrower to buy a house with little or no equity. 'NINJA' is an acronyn for borrowers with no income, no job, or assets while 'exploding ARMS' are mortgages with initial low, fixed interest rates which escalate to a high floating rate after a period of 2 or 3 years.
The US sub prime rate crisis is a result of a vicious circle where all involved have to take the blame and responsibility, be it the borrower, lender, investor, advertiser, people who rate the quality of the mortagages and even the regulator and market (both US/global - as they purposely failed to see this crisis coming).
Actually Indian market unlike the other big global financial markets have been fairly insulated from this crisis as we do not have any sub prime rates as such and our central bank - RBI(Reserve Bank of India) was quite proactive in seeing a prospective housing loan bubble or over heat happening in the near term and quickly took steps to correct them.
Thanks
Ajit
Friday, September 21, 2007
I want to read the book Seeing red written by Graham Poll
I would say that for a person like who is fond of writing and sharing his views and considers reading/writing as something close to his heart similar to being a hobby or passion, my poor effort at not reading into any new book as a very lazy effort. Recently i have come across some good reviews on a book " Seeing Red" written by one of the best Football referees that the English have ever produced Mr. Graham Poll and I want to read it. Graham Poll being the controversial soul that he is gives a lot of insights into the tunnel and other back room knowledge that he personally came across int he various high profile club/country matches that he officiated. One incident that iparticularly want to get a first hand knowledge about is the famous tunnel run in @highbury between Roy Keane of Manchester Untied and Patrick Viera of Arsenal.
I will be soon laying my hands to this book Seeing Red and if I have come across something interesting will defintley share the same.
Enjoy and have a good weekend.
Look how the business of club football is played like a typical business boardroom battle.
Football Comment: Hell hath no fury like a Mourinho scorned! Courtesy - Kelvin Leong & Espnstar.
Well Done Kevin, I enjoyed readung the article and it is fantastic and worth the salt.
The boys in school are talking about it, the butcher at the market is talking about it and as I passed the coffee shop below my block, the beer guzzling uncles were gossiping about it.
One would have thought that some political figure must have been assassinated, or at least a famous celebrity found dead after an overdose of drugs. Sorry to disappoint, but it was the sacking (or did he resign?) of Chelsea’s motor mouth coach Jose Mourinho that has been the big news.
Reports came flying out fast and furious in the media and every soccer fan was texting one another to find out more. So now that reality has set in and we don’t have to rub our eyes in disbelief anymore, the next few days will surely see a flurry of discussions on what Mourinho plans to do.
The man has too big an ego to think of taking a break away from football for long. As a result, here are two suggestions as to how he might be able to plot his revenge on Chelsea and their Russian money-tree, Roman Abramovich.
Plan A. Almost every interview that Mourinho has ever done which mentions his family, makes it clear that they are settled and happy in London. His wife and kids enjoy the city a lot and for this reason alone, Mourinho’s likely destination might not be an plane ticket away but just a bus ride.
Tottenham Hotspur, just across town from Stamford Bridge, might just become his new home, as it has all the qualities needed for him to carry out his revengeful plot on Chelsea.
Martin Jol’s head has been on the chopping block for weeks and the only reason he’s still there is probably down to the lack of a better manager being available.
Now that Mourinho is on the market, Spurs chairman Daniel Levy should pick up the phone to ask if the former Chelsea head honcho is keen on the hot seat at White Hart Lane.
Mourinho might just take up the offer as that will allow his family to stay in London. Above all that, what better way is there to annoy his former employees than to join their city rivals?
Once Mourinho signs on the dotted line with Spurs, he will start toying with the media, no doubt to the detriment of Chelsea. What price then his ability to persuade Frank Lampard to join Spurs. After all, Lampard has already refused to renew with Chelsea because he wanted to see if Mourinho is staying.
And if Michael Bullocks, I mean Ballack, is so unhappy at the Bridge, Mourinho might just take him to the Lane. On top of that, he might as well drop Didier Drogba a line to encourage him to join AC Milan. Oh, and don’t forget, Mourinho might know the exact details of how Chelsea managed to lure Frank Arnesen from Spurs. How the journos would lap that one up.
Of course, if Plan A can’t be executed because Martin Jol has found some miracle superglue to stick himself onto the hot seat at the Lane, Plan B is just as good.
Destination, Spain. Club, Valencia.
So why Valencia and not Madrid or Barcelona you might ask. The answer is simple and twofold. First, look at the Champions League tables and search for Group F. Top of the table is Valencia, and then you look further down the table and you find, Chelsea! Then you see the fixture list and tadah! October 3, 2007. Valencia against Chelsea at The Mestella!
Mourinho will jump at the chance of squaring off against Chelsea so soon after leaving them. His cause will be helped by Valencia being a team capable of beating the west London outfit. We all know how much Chelsea want to win the Champions League and you can bet on Mourinho knowing that too.
Secondly, why wouldn’t Valencia want Mourinho? The Mestella faithful are crying out for a coach with a strong personality to lead their team. What about the side’s current coach Quique Sanchez Flores? The players refuse to listen to his tactics and star men David Villa and David Silva are annoyed with him. Mourinho for Valencia? Worth a bet.
So now, we sit back and eagerly await this long drama to play out before our very eyes. And come next May’s end of season fun and games, Mourinho might become the first Portuguese nominated for Best Director in a Drama series at the Emmy Awards.
I cannot wait for the thank you speech come awards night. Revenge could not be sweeter.
Well Done Kevin, I enjoyed readung the article and it is fantastic and worth the salt.
The boys in school are talking about it, the butcher at the market is talking about it and as I passed the coffee shop below my block, the beer guzzling uncles were gossiping about it.
One would have thought that some political figure must have been assassinated, or at least a famous celebrity found dead after an overdose of drugs. Sorry to disappoint, but it was the sacking (or did he resign?) of Chelsea’s motor mouth coach Jose Mourinho that has been the big news.
Reports came flying out fast and furious in the media and every soccer fan was texting one another to find out more. So now that reality has set in and we don’t have to rub our eyes in disbelief anymore, the next few days will surely see a flurry of discussions on what Mourinho plans to do.
The man has too big an ego to think of taking a break away from football for long. As a result, here are two suggestions as to how he might be able to plot his revenge on Chelsea and their Russian money-tree, Roman Abramovich.
Plan A. Almost every interview that Mourinho has ever done which mentions his family, makes it clear that they are settled and happy in London. His wife and kids enjoy the city a lot and for this reason alone, Mourinho’s likely destination might not be an plane ticket away but just a bus ride.
Tottenham Hotspur, just across town from Stamford Bridge, might just become his new home, as it has all the qualities needed for him to carry out his revengeful plot on Chelsea.
Martin Jol’s head has been on the chopping block for weeks and the only reason he’s still there is probably down to the lack of a better manager being available.
Now that Mourinho is on the market, Spurs chairman Daniel Levy should pick up the phone to ask if the former Chelsea head honcho is keen on the hot seat at White Hart Lane.
Mourinho might just take up the offer as that will allow his family to stay in London. Above all that, what better way is there to annoy his former employees than to join their city rivals?
Once Mourinho signs on the dotted line with Spurs, he will start toying with the media, no doubt to the detriment of Chelsea. What price then his ability to persuade Frank Lampard to join Spurs. After all, Lampard has already refused to renew with Chelsea because he wanted to see if Mourinho is staying.
And if Michael Bullocks, I mean Ballack, is so unhappy at the Bridge, Mourinho might just take him to the Lane. On top of that, he might as well drop Didier Drogba a line to encourage him to join AC Milan. Oh, and don’t forget, Mourinho might know the exact details of how Chelsea managed to lure Frank Arnesen from Spurs. How the journos would lap that one up.
Of course, if Plan A can’t be executed because Martin Jol has found some miracle superglue to stick himself onto the hot seat at the Lane, Plan B is just as good.
Destination, Spain. Club, Valencia.
So why Valencia and not Madrid or Barcelona you might ask. The answer is simple and twofold. First, look at the Champions League tables and search for Group F. Top of the table is Valencia, and then you look further down the table and you find, Chelsea! Then you see the fixture list and tadah! October 3, 2007. Valencia against Chelsea at The Mestella!
Mourinho will jump at the chance of squaring off against Chelsea so soon after leaving them. His cause will be helped by Valencia being a team capable of beating the west London outfit. We all know how much Chelsea want to win the Champions League and you can bet on Mourinho knowing that too.
Secondly, why wouldn’t Valencia want Mourinho? The Mestella faithful are crying out for a coach with a strong personality to lead their team. What about the side’s current coach Quique Sanchez Flores? The players refuse to listen to his tactics and star men David Villa and David Silva are annoyed with him. Mourinho for Valencia? Worth a bet.
So now, we sit back and eagerly await this long drama to play out before our very eyes. And come next May’s end of season fun and games, Mourinho might become the first Portuguese nominated for Best Director in a Drama series at the Emmy Awards.
I cannot wait for the thank you speech come awards night. Revenge could not be sweeter.
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