World financial powers, gathering in the US from Friday as the Iraqi regime crumbles, still face a fight to reinforce a sluggish global economy, officials and analysts said.
"We don't want to infer too much good news from the possible successful resolution of the Iraqi matter," Moody's Investors Service chief economist John Lonski warned.
"By itself, the apparent coalition victory in Iraq does not eliminate the terror risks that at least still menace the US economy if not other countries."
G7 finance ministers and central bankers from Britain, Canada, France, Germany, Italy, Japan and the US will dine here Friday. Iraq, not on the official, is likely to dominate. The G7 power meet formally Saturday before joining colleagues a few blocks away for the 184-nation International Monetary Fund and World Bank spring meetings April 12 through April 13.
Scenes of jubilant Iraqis and US troops toppling a towering statue of Iraqi President Saddam Hussein in a Baghdad square would no doubt color the meetings of the G7, deeply split over the need for the war.
"It will probably make the mood a little bit more upbeat," said Michael Mussa, former IMF chief economist, now scholar at the Institute for International Economics.
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
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MAKING PROGRESS: Officials and industry leaders who participated in a defense forum last month agreed that Taiwan has the capabilities to work with the US, the report said Taiwan’s high-tech defense industry is to enhance collaboration with the US to produce weapons needed for self-defense, the Ministry of National Defense said in a report to the Legislative Yuan. Deputy Minister of National Defense Hsu Yen-pu (徐衍璞) discussed building regional and global industry alliances with US partners at the US-Taiwan Defense Industry Conference in Philadelphia held from Sept. 22 to Tuesday last week, the ministry said in the declassified portion of the report. The visit contributed to maintaining bilateral ties, facilitated Taiwan’s efforts to acquire weapons and equipment, and strengthened the resilience of the two nation’s defense industries, it said. Taiwan-US ties
CONCERNS: Allowing the government, political parties or the military to own up to 10 percent of a large media firm is a risk Taiwan cannot afford to take, a lawyer said A Chinese Nationalist Party (KMT) legislator has proposed amendments to allow the government, political parties and the military to indirectly invest in broadcast media, prompting concerns of potential political interference. Under Article 1 of the Satellite Broadcasting Act (衛星廣播電視法), the government and political parties — as well as foundations established with their endowments, and those commissioned by them — cannot directly or indirectly invest in satellite broadcasting businesses. A similar regulation is in the Cable Radio and Television Act (有線廣播電視法). “The purpose of banning the government, political parties and the military from investing in the media is to prevent them from interfering
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