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CORRUPTION UPDATES 61 Late May 2007: Draft Posting: Stay Tuned for More! The CORRUPTION UPDATES posts corruption news stories from California, the Nation and the World, and gives you the straight story. |
CORRUPTION UPDATES 61
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1) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE:
Snubbed by U.S., China Finds New Space Partners
By JIM YARDLEY
May 24, 2007
http://www.nytimes.com/2007/05/24/world/asia/24satellite.html?ref=
Beijing is trying to position itself as a space benefactor to the developing world — the same countries, in some cases, whose natural resources China covets here on earth. The latest and most prominent example came last week when China launched a communications satellite for Nigeria, a major oil producer, in a project that serves as a tidy case study of how space has become another arena where China is trying to exert its soft power.
Not only did China design, build and launch the satellite for Nigeria, but it also provided a huge loan to help pay the bill. China has also signed a satellite contract with another big oil supplier, Venezuela. It is developing an earth observation satellite system with Bangladesh, Indonesia, Iran, Mongolia, Pakistan, Peru and Thailand. And it has organized a satellite association in Asia.
“China is starting to market and sell this technology to developing countries that need it,” said Shen Dingli, a professor in international relations at Fudan University in Shanghai. Of the Nigeria deal, Mr. Shen added: “It gives substance to Sino-African relations. Not only does China buy raw materials, but also we sell some things.”
Nigeria is a risky customer for any satellite manufacturer. It is consistently rated one of the most corrupt nations, and at least one Western aerospace company has become embroiled in business disputes there.
. With the satellite priced at roughly $300 million, the state-owned Export-Import Bank of China, or China ExIm, granted $200 million in preferential buyer’s credits to Nigeria. The bank often provides the hard currency for China’s soft power aspirations: In Africa, China ExIm has handed out more than $7 billion in loans in recent years, according to one study.
China’s focus on satellites has also brought suspicions, particularly from the United States, since most satellites are “dual use” technologies, capable of civilian and military applications. Currently, China is overhauling its military in a modernization drive focused, in part, on developing the capacity to fight a “high tech” war.
Analysts say China’s determination to develop its own equivalent to the Global Positioning System, or G.P.S., is partly because such a system would be critical for military operations if a war were to erupt over Taiwan.
Most alarmingly to Western countries, China conducted an antisatellite test in January by firing a missile into space, destroying one of its own orbiting satellites and scattering a trail of dangerous debris despite its oft-stated opposition to the use of weapons in space.Space relations between the powers were already frosty. Washington, responding to scandals over stolen technology, has tried for nearly a decade to isolate the Chinese space program through export restrictions that prohibit the use of American space technology on satellites launched in China. Washington also has prevented China from participating in the International Space Station and, in some cases, stopped Chinese scientists from attending space conferences in America.
THE COMMITTEE SAYS:
World Arms Race Heats Up: China's Clever 3rd World Satellite Program enhances post colonial aspirations around world
Also See:
Corruption Updates 7, “Struggle for the Corrupt Fruit of Political Victory in China”
Corruption Updates 45, 6th article on the page, "China to U.S.: Halt Taiwan weapon sales"
Corruption Updates 61, 3rd article on the page, "China Investing American Profits to Turn World Balance of Power against US"
Read more Articles about China
US sends condolences on soeharto death, chinaview, 1-28-08
Suharto dead; survivors speak, ap, 1-27-07
back story; suharto
america's genocidal dictator, suharto, almost dead, wbn, 1-14-08
suharto, thief and butcher, times, 1-12-08
indonesia during suharo reign, sejarah indonesia
Search the Corruption Database under
China (21 Abstracts)
2) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
Documents From Sallie Mae Add to Questions About Timing of $18 Million Stock Sale
5-25-07, NYT
http://www.nytimes.com/2007/05/25/business/25sallie.html
An internal document from Sallie Mae, the nation’s largest student lender, showed that the company sought a meeting with President Bush’s budget office about two months before the company’s chairman, Albert L. Lord, sold more than $18 million in shares.
The Securities and Exchange Commission and the House education committee are investigating whether Mr. Lord had inside information about the president’s budget proposal, which was released in February and called for cuts in subsidies for companies participating in the federally guaranteed student loan program. Mr. Lord sold his stock days before the budget’s release, which led to a steep decline in the company’s share price.
The plans for the meeting were disclosed in a company document dated Dec. 5, 2006, that was provided to the House education committee. It is not clear whether a meeting took place.
The document also set out a lobbying strategy as the student loan industry faced a new Democratic majority in Congress. Since this spring, lenders are facing investigations by Congress as well as by several state attorneys general, looking into their marketing practices and their relations to university financial aid offices.
THE COMMITTEE SAYS:
Sallie Mae no longer a Public Service: Return Sallie Mae to Public Control and Benefit, or Cut them off
3) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
Pentagon Worries About China Weapon Test
By ROBERT BURNS
The Associated Press
Friday, May 25, 2007; 12:18 PM
http://www.washingtonpost.com/wp-dyn/content/article/2007/05/25/AR2007052500645.html
WASHINGTON -- China is improving its capacity for launching surprise military attacks along its border areas, reflecting its view that preemption is necessary when confronting a more powerful enemy, the Pentagon said Friday.
In a section titled "Is China Developing a Preemptive Strategy?" the report cited as evidence the fact that the People's Liberation Army has been acquiring long-endurance submarines, unmanned combat aircraft, additional precision-guided air-to-ground missiles, and long-distance military communications systems.Peter Rodman, who until early this year was the Pentagon's top Asia policy official, said in an interview Friday that there is reason for concern that China's long-range aim is to "revise the existing balance of power in the world, but they are patient and they are just doing this quietly; they think long term."
Chinese military training that focuses on no-notice, long-range air strikes "could also indicate planning for preemptive military options in advance of regional crises," the report said.
THE COMMITTEE SAYS:
China Investing American Profits to Turn World Balance of Power against US:
Bush, and his Corporate Sponsors helping Destroy American Power and Reputation Everywhere
Also See:
Corruption Updates 7, “Struggle for the Corrupt Fruit of Political Victory in China”
Corruption Updates 45, 6th article on the page, "China to U.S.: Halt Taiwan weapon sales"
Corruption Updates 61, 3rd article on the page, "China Investing American Profits to Turn World Balance of Power against US"
Search the Corruption Database under
China
4) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
US fears grow over China military
Friday, 25 May 2007, 18:09 GMT 19:09 UK BBC
http://news.bbc.co.uk/2/low/asia-pacific/6691691.stm
The United States has expressed concern over China's growing military might, in a Pentagon report given to Congress.
It particularly highlights China's new Jin-class nuclear submarines and what it believes are increasingly accurate air-to-ground missiles.
China announced in March that it was increasing its military spending by 17.8% this year.
One issue that appears to be of concern to US officials is China's development of a new fleet of nuclear-powered submarines equipped with ballistic missiles with a range of around 8,000km (5,000 miles).
He added: "The Americans are concerned about whether a gradual build-up of nuclear forces implies China will change its nuclear policy of no first use."
The report adds that training focusing on no-notice, long-range air strikes could "indicate planning for pre-emptive military options in advance of regional crises".
"The Pentagon has been sounding the alarm about China's nuclear intentions for a long time, but our analysis shows that they are overstating the threat," said Robert S Norris, an NRDC nuclear analyst and co-author of the report.
(Natural Resources Defense Council.)
THE COMMITTEE SAYS:
China Following Bush's "Preemptive" Stragety: Bush's Crimes will Come Back to Bit us in the ASS.
Search the Corruption Database under
China
5) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
Musharraf 'seeks Karachi peace'
Friday, 25 May 2007, 12:32 GMT 13:32 UK BBC
http://news.bbc.co.uk/2/low/south_
asia/6691637.stm
President Pervez Musharraf is visiting the city of Karachi two weeks after some of Pakistan's worst political violence in years claimed 41 lives.
Most of those killed in gun battles with followers of Sindh's pro-Musharraf ruling party were opposition activists.
Opposition parties had been planning a mass rally in Karachi on 12 May in support of suspended Chief Justice Iftikhar Chaudhry when violence broke out.
Our correspondent says the violence of 12 May reawakened ethnic tensions in the commercial capital and was seen as a further weakening of the current government's grip on power.
It also led the PPP, thought to be the country's largest party, to pull out of talks that could have seen them form the next government.THE COMMITTEE SAYS:
Pakistan ready to form free Government over dead body of American Dictator Musharraf
Also See:
Corruption Updates 31, 10th article on page, “Pakistan's old new year"
Corruption Updates 44 , 3rd article on page, “American backed Dictator Attempting to Crush Pakistan's Judiciary"
Search the Corruption Database under
Pakistan
6) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
North Korea test-fires missiles
BBC: Friday, 25 May 2007, 15:26 GMT 16:26 UK
http://news.bbc.co.uk/2/low/asia-pacific/6690869.stm
North Korea has test-fired several missiles towards the Sea of Japan.
South Korea's defence ministry said the launches appeared to be part of a routine military exercise by the secretive communist state.
Some commentators said the tests were a response to Friday's launch by South Korea of its first destroyer equipped with US-supplied high-tech Aegis radar.
Last month, during a huge military parade in the capital, Pyongyang, North Korea displayed a newly developed ballistic missile capable of reaching the US territory of Guam.
The BBC's Charles Scanlon in Seoul says the firing of short-range anti-ship missiles has much less strategic significance - but could serve as a warning of potential trouble to come.
THE COMMITTEE SAYS:
What Happened to the "Breakthrough" in N. Korea Nuke Talks?
7) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLI
Warm spring 'affecting wildlife'
Friday, 25 May 2007, 05:08 GMT 06:08 UK BBC
http://news.bbc.co.uk/2/low/science/nature
/6688649.stm
A warm spring has brought about the early arrival of some UK wildlife, the first results of the Springwatch 2007 survey suggest.
The Woodland Trust said it was worried "because the changes are so rapid".
THE COMMITTEE SAYS:
Seasonal Onset, Duration, and Closing times have Changed around the World
Also See:
Corruption Updates 39 , 10th article on the page, "Top Scientists Warn of Water Shortages and Disease Linked to Global Warming"
Corruption Updates 47 , 10th article on the page, "Permanent drought predicted for Southwest:Climate Already Changed..."
Search the Corruption Database under
8) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
Home Sales Climb, but Prices Plummet
By THE ASSOCIATED PRESS
May 25, 2007
http://www.nytimes.com/2007/05/25/business/25econ.html?pagewanted=print
WASHINGTON, May 24 (AP) — Sales of new homes surged in April by the biggest jump in 14 years, but the median price of a new home dropped by the largest amount on record. The mixed signals left no clear picture of whether the worst of the nation’s housing slump was over.
But the median price of a new home sold last month fell to $229,100, a record 11.1 percent decline from the previous month. The big price decline indicated that builders were cutting prices in an effort to move unsold homes.
The jump in sales was the biggest increase since a 16.4 percent surge in new-home sales in April 1993.
Analysts cautioned against reading too much into the big gain, especially in light of other surveys showing that builder confidence had sunk in recent months over worries that troubles in the subprime mortgage market would further crimp demand in coming months.
THE COMMITTEE SAYS:
Manufacturing is Offshore. Auto Industry has Collasped. Housing is on the way Down. Labor is Impoverished Foreigners. China loans us Money to Consume:
Profits at Record Highs!
9) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
Chinese flooding leaves 21 dead
Friday, 25 May 2007, 04:34 GMT 05:34 UK BBC
http://news.bbc.co.uk/2/low/asia-pacific/6690281.stm
Heavy rains in south-western China have caused flash floods and mudslides, killing at least 21 people, the official Xinhua news agency has said.
Some 112,000 people have been evacuated from their homes, Xinhua reported.
Elsewhere, more than 1.6 million people in the northern province of Gansu are facing water shortages because of severe conditions in the region.
Drought-affected areas have received little or no rainfall in the past two months, officials said.
China has suffered increasingly severe periods of extreme weather in recent years, including floods, drought and powerful typhoons.
Authorities announced recently that the country is likely to be hit by more extreme weather during 2007 than at any time in the past decade.
They blame the changing weather patterns on climate change, a view at least partly backed up by meteorologists.
THE COMMITTEE SAYS:
Freak Weather Punishing China
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China
Environment
10) THE ABSTRACT PRINTED BELOW WAS ORIGINALLY PUBLISHED IN THE :
Documents From Sallie Mae Add to Questions About Timing of $18 Million Stock Sale
5-25-07, NYT
http://www.nytimes.com/2007/05/25/business/25sallie.html
An internal document from Sallie Mae, the nation’s largest student lender, showed that the company sought a meeting with President Bush’s budget office about two months before the company’s chairman, Albert L. Lord, sold more than $18 million in shares.
The Securities and Exchange Commission and the House education committee are investigating whether Mr. Lord had inside information about the president’s budget proposal, which was released in February and called for cuts in subsidies for companies participating in the federally guaranteed student loan program. Mr. Lord sold his stock days before the budget’s release, which led to a steep decline in the company’s share price.
The Securities and Exchange Commission and the House education committee are investigating whether Mr. Lord had inside information about the president’s budget proposal, which was released in February and called for cuts in subsidies for companies participating in the federally guaranteed student loan program. Mr. Lord sold his stock days before the budget’s release, which led to a steep decline in the company’s share price.
THE COMMITTEE SAYS:
Sallie Mae no longer a Public Service: Return Sallie Mae to Public Control and Benefit, or Cut them off
Search the Corruption Database under
Sallie Mae
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Next Corruption Updates: Page 62
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