BRITAIN

BRITAIN

The Observer, London, July 13: The decision by China and Russia to veto U.N. sanctions against the regime of Robert Mugabe has raised fresh concerns about the role of the Security Council but, more pertinently, has demonstrated the malign influence both countries can play on the international stage. The two have brought down UN resolutions before; last year, they opposed measures to press Burma to ease repression. Yet this latest decision, coming days after Russia backed a G8 proposal for tough measures against Zimbabwe, including an arms embargo, an assets freeze and a ban on Mugabe and his cronies from travelling, is shameful.

Millions displaced

China and Russia argued that the Security Council is mandated to deal only with matters which threaten international peace and security and that regional efforts need time to work. But millions of Zimbabweans have been displaced to other countries in the region as a result of Mugabe’s policies.

China’s extensive interests in Zimbabwe have fuelled fears that it is always likely to side with Mugabe. Russia’s behaviour raises grave doubts about its reliability as an ally.

JAPAN

Asahi Shimbun, Tokyo, July 16: The financial crisis in the United States triggered by the collapse of that nation’s subprime mortgage market has entered a second stage. Markets are nervous about the financial health of the nation’s two government-backed mortgage finance companies, Fannie Mae and Freddie Mac.

To prevent such a financial catastrophe, U.S. authorities must take decisive action while considering all options, including nationalizing Fannie Mae and Freddie Mac.

Public aversion

There is strong public aversion in the United States to a taxpayer-financed bailout of a financial institution. There was similar resistance in Japan to pumping taxpayer money into troubled banks during the banking crisis following the bursting of the asset-inflated bubble. This led to serious delays in effective government policy response to the problems, provoking the criticism abroad that Japan was doing “too little, too late.”

But now Washington seems to be making the same mistake.

Falling home prices are now affecting the entire U.S. economy.

UNITED ARAB EMIRATES

Khaleej Times, Dubai, July 14: Remarks from America’s top military brass that all is not well with Pakistan’s war-on-terror effort is only likely to add to the downside momentum gripping the allies’ efforts in the region.

As pointed out repeatedly in this space, Pakistan’s centrality to America’s Afghanistan chapter cannot be overestimated, and even though the country is not directly partaking in any war activity, its border complexities since the days of the Soviet jihad have drained immensely state recourses to service Washington’s needs.

Also, like before, it remains the last bastion against a spreading “evil empire” that gains strength by the day.

Predatory drones

Much has gone haywire in Pakistan’s tribal areas bordering Afghanistan of late. Fighting rages in some areas while negotiations persist in others as the state locks horns with extremism. Locals only initially and wider national media later are abuzz with reports of American predator drones circling bordering areas, even missile strikes from across the border.

Clearly, each party has performed to the best of its limited abilities.