VOI - International News

Ontario, Canada - After failing to resolve their differences on economic strategy, world leaders are turning their attention to grappling with some of the globe's toughest foreign policy problems.

Read more: World summit turning attention to nuclear threats

Taipei – Tens of thousands of Taiwanese decried a landmark trade deal with rival China in a protest on Saturday that will not stop their government from signing the agreement to boost around $100 million in annual two-way trade.

Read more: Thousands protest in Taiwan against China trade deal

Some of China’s top leaders, including Prime Minister Wen Jiabao, have emphasized the need for that restructuring for years, especially since the global financial crisis hit the export industry.  The workers are crucial for China’s economy, spending their money to buy domestic products that they manufacture. 

Officials see that China move away from an economic model that relies too heavily on foreign consumption. But China’s move  to make its currency, the renminbi, more flexible. On recent strikesthat have led to significant wage increases, the authorities’ apparent tolerance.

Both signal that Chinese leaders could be serious about re-engineering the nation’s economic model. The currency policy brings immediate political benefits, since China will now presumably come under less pressure at the Group of 20 summit meeting this weekend in Canada. But there are important domestic considerations as well. The Renminbi is likely to appreciate in value, making Chinese exports somewhat less competitive in the global marketplace but strengthening the purchasing power of Chinese consumers. Likewise, government policies to encourage wage increases for poor laborers, estimated 150 million migrant workers in cities — could also raise consumption.

Some Chinese leaders have been vocal in recent months about the need to raise household consumption. Li Keqiang, the vice prime minister stressed that as a priority in public addresses this year. Early this month, Seeking Truth, an official journal of the Communist Party, published an article by VicePrime Minister Li in which he wrote that “increasing citizens’ consumption is the key to expanding domestic demand.”// bnp-iht

Washington- US President Barack Obama met President Dmitri A. Medvedev of Russia on Thursday in Washington. They discussed economic relations, on which Obama wanted to push for more exports to Russia. On the contrary Medvedev  seeked more American business investment, especially in technology.

The United States promised to redouble its efforts to help Russia join the World Trade Organization, agreeing to try to complete years of negotiations by September. Meanwhile, Russia would lift barriers to the multibillion-dollar importation of American chicken. And they agreed to promote collaboration on clean-energy technologies.

President  Obama said at a joint News conference. “Twenty years after the end of the cold war, the U.S.-Russian relationship has to be about more than just security and arms control,” “It has to be about our shared prosperity, and what we can build together.”

Earlier this week, Medvedev made a trip in California to lobby Silicon Valley technology companies to assist in a similar Russian innovation center outside Moscow. Before Medvedev left Russia, as part of his broader modernization initiative, he opened an economic Forum in St. Petersburg, Russia, at which he announced lower capital gains taxes for investors, a greater focus on privatizing industries, a stronger rule of law and specifically new efforts against white-collar crime, plus liberalized access to tourist visas and work permits.

Klaus Kleinfeld, the chairman of the U.S.-Russia Business Council, who was among the executives who met with the presidents at the US Chamber of Commerce, hailed the opportunities for businesses in Russia. // bnp.iht

 Islamabad - Pakistani President Asif Ali Zardari has said that the anti-terror war would continue against militants till the complete elimination of this cancer as it poses a threat not only to the future generations in Pakistan but also dangerous to the peace and stability of the International community.

Read more: President: Pakistan to continue anti-terror war

London - Four British soldiers were killed in a vehicle accident in Afghanistan, the defence ministry said on Thursday, bringing the death toll of UK troops in the Afghan conflict to 307. The deaths come at a period of turmoil for Western forces fighting a now nine-year war against al Qaeda-allied Taliban insurgents, whose attacks have intensified in the last year despite a change of strategy by NATO-led forces.

Read more: Four British soldiers die in Afghan accident