Around the World
by Charles Lemos, Thu Apr 07, 2011 at 08:47:27 AM EDT
News from around the globe impacting your world.
Portugal Seeks Relief for Its Troubled Banks. The caretaker government of Socialist Prime Minister José Socrates announced he was asking for financing from the European Union on Wednesday, saying the risks to the economy had now become too great to go it alone as borrowing rates soared in recent weeks. More from Reuters.
China Levels Charges Against Dissident. Ai Weiwei, best known for designing the 'Bird's Nest' stadium for the 2008 Olympics, has been charged with "economic crimes" by Chinese authorities. The 53 year old artist was seized by border police Sunday at the Beijing airport as he prepared to board a flight to Hong Kong. He is the latest dissident detained in a series of arrests that began in February. Other high-profile dissidents held by Chinese authorities include Noble Peace Laureate Liu Xiaobo and blind activist Chen Guangcheng. More from the Los Angeles Times.
Meanwhile US Ambassador to China Jon Huntsman has called upon Beijing to ease its crackdown against political dissidents. Speaking on Sino-US ties at a function held in Shanghai Wednesday, Huntsman said there was room for improvement in bilateral diplomatic ties. He said US envoys to Beijing would continue to speak out publicly in support of dissidents activists Ai Weiwei and others. More on this side of the story from RTT News.
French Forces in Côte d'Ivoire Fighting. French forces hit military vehicles belonging to troops loyal to strongman Laurent Gbagbo during a helicopter-borne mission that rescued Japan's ambassador to the West African country today after Gbagbo's soldiers broke into the residence of Ambassador Yoshifumi Okamura. The full story in The Independent.
India Opens Talks with Japan. India and Japan today started an economic-strategic talks that promises to have important strategic ramifications regarding balancing China. More from The Times of India.
China's Bubble Economy. The Asia Sentinel examines the Chinese economy warning that an inevitable slowdown will affect the entire world – from commodity producers to governments issuing debt. The ramifications of a meaningful slowdown in Chinese economic activity are profound, ranging from the risk of widespread social instability to a collapse of several commodity markets.
Bank of England Holds Rate Steady. The Bank of England kept its benchmark interest rate at 0.5 percent, a record low for the 26th consecutive month, as policy makers judged the need to aid the recovery took precedence over the fastest inflation in more than two years. More from Bloomberg News.