The G20 yesterday planned to approve a greater voice for Asian and Latin American countries in a historic shift that recognizes the rising influence of both regions.
The leaders of the world’s 20 largest economies began a two-day meeting on Thursday dedicated to fostering a healthy global economic recovery, and European leaders were expected to secure a priority of their own: limit on bankers’ bonuses.
But economic developments were overshadowed yesterday by news that US President Barack Obama, French President Nicolas Sarkozy and British Prime Minister Gordon Brown demanded that Iran fully disclose its nuclear ambitions “or be held accountable.”
They threatened new sanctions after the disclosure of a secret Iranian nuclear facility.
On the economy, the leaders decided the G20 will serve as the board of directors on global economic cooperation, a function that for more than three decades had been performed by a smaller club: the US, Japan, Britain, Germany, France, Italy, Canada and later Russia. The G20 includes such developing economies as China, Brazil and India.
The G8 will, however, continue to meet on matters of common importance such as national security. Obama initiated the move, to be announced yesterday, the White House said.
The measure underscores how the world’s balance of power has shifted since a small group of wealthy, industrial countries began meeting in the mid-1970s in an effort to respond to oil shocks, stagflation and other economic crises of that period.
The Pittsburgh meeting marked the third G20 leaders summit in less than a year as the countries continued to grapple with a debilitating economic downturn that has resulted in millions of unemployed around the world, the loss of trillions of dollars in wealth and massive amounts of government stimulus spending.
The leaders trickled into Pittsburgh throughout Thursday — most of them in from New York, where they attended the opening of the UN General Assembly. Later, they gathered with their spouses for a welcoming reception before parting for separate banquets on Thursday night.
The Pittsburgh G20 meeting did have one thing in common with recent G8 meetings: protesters seeking to demonstrate unhappiness with global capitalism. Police fired canisters of pepper spray and rubber bullets at several hundred demonstrators who had tried to march toward the convention center.
A Chinese freighter that allegedly snapped an undersea cable linking Taiwan proper to Penghu County is suspected of being owned by a Chinese state-run company and had docked at the ports of Kaohsiung and Keelung for three months using different names. On Tuesday last week, the Togo-flagged freighter Hong Tai 58 (宏泰58號) and its Chinese crew were detained after the Taipei-Penghu No. 3 submarine cable was severed. When the Coast Guard Administration (CGA) first attempted to detain the ship on grounds of possible sabotage, its crew said the ship’s name was Hong Tai 168, although the Automatic Identification System (AIS)
An Akizuki-class destroyer last month made the first-ever solo transit of a Japan Maritime Self-Defense Force ship through the Taiwan Strait, Japanese government officials with knowledge of the matter said yesterday. The JS Akizuki carried out a north-to-south transit through the Taiwan Strait on Feb. 5 as it sailed to the South China Sea to participate in a joint exercise with US, Australian and Philippine forces that day. The Japanese destroyer JS Sazanami in September last year made the Japan Maritime Self-Defense Force’s first-ever transit through the Taiwan Strait, but it was joined by vessels from New Zealand and Australia,
SECURITY: The purpose for giving Hong Kong and Macau residents more lenient paths to permanent residency no longer applies due to China’s policies, a source said The government is considering removing an optional path to citizenship for residents from Hong Kong and Macau, and lengthening the terms for permanent residence eligibility, a source said yesterday. In a bid to prevent the Chinese Communist Party (CCP) from infiltrating Taiwan through immigration from Hong Kong and Macau, the government could amend immigration laws for residents of the territories who currently receive preferential treatment, an official familiar with the matter speaking on condition of anonymity said. The move was part of “national security-related legislative reform,” they added. Under the amendments, arrivals from the Chinese territories would have to reside in Taiwan for
CRITICAL MOVE: TSMC’s plan to invest another US$100 billion in US chipmaking would boost Taiwan’s competitive edge in the global market, the premier said The government would ensure that the most advanced chipmaking technology stays in Taiwan while assisting Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in investing overseas, the Presidential Office said yesterday. The statement follows a joint announcement by the world’s largest contract chipmaker and US President Donald Trump on Monday that TSMC would invest an additional US$100 billion over the next four years to expand its semiconductor manufacturing operations in the US, which would include construction of three new chip fabrication plants, two advanced packaging facilities, and a research and development center. The government knew about the deal in advance and would assist, Presidential
RSS