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Welcome to Wednesday Night #1327 8 Aug, 2007
PLEASE LET US KNOW IF YOU CAN BE WITH US - IT MAKES THE CHAIRMAN'S JOB EASIER
the account of the Wednesday Night #1326 .
Lyda Letacq has recently returned from Russia www.wednesday-night.com/newsRussia.htm and has agreed to debrief at Wednesday Night on the highly topical subject of that country and the often inscrutable actions of the government.
See W-N on Russia
The Economist Intelligence Unit on June 18 trumpets the news that Russia's economy is booming: "Russian economic growth hit a six-year high of 7.9% year on year in the first quarter, propelled by strong growth in construction, manufacturing and trade. The result is particularly impressive in light of the small contribution made by oil and gas."
There is a hardening of Russia's diplomatic stance on a number of issues, a situation described by the BBC's Paul Reynolds as one in which "Russia is not an enemy but cannot be described as a close friend. It is a competitor, playing by some international rules and by some it has made up itself"
 Cool not cold - Russia's new foreign policy
Western governments were taken by surprise when Russia under President Vladimir Putin started to harden up its foreign and domestic policy, but this is something they will have to learn to live with for the foreseeable future.
The recent suspension of Russia's participation in the Conventional Forces in Europe, or CFE, treaty is seen by many observers as a potent political signal, particularly in the light of critical issues (Iran's nuclear capability, Darfur) that will soon come before the UN.
The July Lobster Summit with the Bush family & friends doesn't seem to have produced any lasting warm and fuzzy vibes - Pravda provides an interesting analysis of the outcomes which hardly seems like a White House-approved communiqué despite the somewhat encouraging headline
elations with the UK are strained over Russia's refusal to extradite Andrei Lugovoi the main suspect in the murder in London of Alexander Litvinenko
Relations with Georgia continue to worsen as Georgia's president Saakashvili accuses Russia of firing a missile from an aircraft at a Georgian village on Monday
Closer to home is the flurry of activity that has greeted the (as Peter MacKay would have it) 15th century-style
land grab in the Arctic , which has aroused the new government of Canada from its torpor (on this subject) to such an extent that the Canadian military (600 strong) has just begun a 10-day "sovereignty operation" NANOOK 07 in the Arctic . Stephen Harper's trip this week to NWT and Nunavut has become a timely and news-worthy event [arrangements have even been made for a small media entourage to accompany him] with speculation that there will be announcements of "fresh spending and building initiatives to bolster Canada's territorial claims in the Arctic as he hopscotches across the North" [Harper to bolster Canada's territorial claims during Arctic visit]
For background and more links on Arctic sovereignty, please see: wednesday-night.com/arctic.asp
Finally, for some irrelevant spice, we would add the controversial piece in the New York Times Magazine by Canada's best-known politician of Russian descent, Michael Ignatieff, and the devastating comment (Michael Ignatieff's failed mea culpa) by Jonathan Kay Do see More W-N on Ignatieff.
As always, there will be other topics, so please refer to back here for updates
Editor
We look forward to your company.
Diana & David Nicholson
dtnicholson@wednesdaynight.net
Tel: +1 (514) 934-0023
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China’s Trillion Dollar Nest Egg - April 4, 2007
China has now accumulated more than $1 trillion in foreign exchange reserves. Crossing this symbolic threshold has led many to underscore the destabilization potential of the situation.
First, how did this come about? China’s trade has expanded enormously. Imports have risen from $160 billion in 1999 to about $800 billion in 2006, exports from $200 billion to $950 billion. China’s current account surplus rose dramatically during 2005, as the government deliberately tried to slow domestic investment spending. China’s surplus for 2006 is estimated at over $200 billion – a big number, but far lower than the corresponding deficit in the U.S., at $857 billion. Past issues | his WN page
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