United States Secretary of State Hillary Clinton has urged China to take on greater responsibility on the global stage, saying that China’s exceptional rise to prominence requires increased participation and engagement in world affairs.
Speaking in Washington, Clinton also said that China can no longer expect to be a ‘selective stakeholder’ and still earn the full respect of other countries.
The US State Department has officially added the Vatican to its list of money-laundering centres worldwide for the first time ever, said a report by Reuters on Thursday, though an department official stressed that the tiny city-state was not considered as a high-risk country.
US Treasury Secretary Timothy Geithner has expressed doubt on whether China will be able to turn the yuan, or renminbi, into a global currency for international trade.
Speaking at an event at the Dallas Regional Chamber on Thursday, Geithner assured those present that the US dollar’s status, as the international currency of choice, was not at risk of being replaced by the yuan, or at least not in the short-term future, despite all of China’s efforts.
How many people around the world have a net worth in 10 digits? Forbes magazine released yesterday its annual tally of billionaires around the world, 1,226 to be exact, and despite the financial turmoil witnessed last year, the tally is 1 percent higher than last year’s number.
The group’s total combined net worth grew by 2 percent to $4.6 trillion, almost the size of Russia and Germany’s GDP combined. The average worth of a listed billionaire is $3.7 billion.
A recent report has found that Americans need a significantly higher income to feel financially secure in this economy. According to WSL Strategic Retail, almost 30 percent of Americans with incomes between $100,000 and $150,000 say they struggle to cover their basic expenses, afford a few extras and still have enough for savings.
The Deputy Oil Minister of Syria, Abdo Hussameldin, has resigned from his government post to join the rebel movement against President Bashar al-Assad, reported Reuters on Thursday, after Hussameldin posted a video on YouTube to announce his defection.
Hussameldin, who was appointed to his role by Assad in 2009, looked relaxed as he spoke directly into a camera, while wearing a suit and a tie.
The entire population of the island nation of Kiribati could soon be forced to relocate to a 5,000-acre plot of land in Fiji, said Kiribati President Anote Tong on Wednesday, as rising levels threaten to swallow the entire country beneath the Pacific Ocean.
China announced this week that its military budget would rise 11.2 percent this year, on top of the 12.7 increase from the previous year. With the new budget, China’s military spending will cross the $100 billion mark for the first time, renewing existing concerns over China’s military agenda.
In recent years, the People’s Liberation Army has had double-digit budget increases, spending that has helped established China’s position as a growing international and regional power.
French President Nicolas Sarkozy has said there are too many foreigners in France, cautioning that the system for integrating immigrants is at risk of breaking down.
On a televised debate, Sarkozy said he plans to address the immigration issue if he is re-elected next month.
Sarkozy currently trails behind the Socialist forerunner Francois Hollande in opinion polls.
China is slowing gaining a foothold into the US and Canada oil and natural gas industry, said a report by the Wall Street Journal on Tuesday, as Chinese companies continue to scoop up minority stakes and joint ventures with North American oil companies.
