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Wednesday, April 13, 2005

India and China have settled long-time border disputes, and with freed up cross-border traffic look to creating what would be the largest trading bloc in the world, between the two most populous nations on the planet. During a recent visit by Chinese Premier Wen Jiabao to the Indian capital of Delhi, a border was finally agreed on paper.

“India and China can together reshape the world order,” Indian Prime Minister Manmohan Singh said Monday.

“China has a large manufacturing base. I believe it is the world’s factory. And India with its development in software and other areas, I feel, is the world’s office. What I am suggesting is to bring together the factory and the office,” Chinese Ambassador to India, Sun Yuxi, had said ahead of the visit.

The agreement is the first official document for the 3,500 km disputed border between the two countries, in more than 20 years. The dispute erupted into war in 1962, followed by a 14 years freeze in diplomatic relations.

China would give up claims on 90,000 square kilometers to the North-East of India, formally recognising as parts of India, Sikkim — a Himalayan kingdom that merged with India in 1975 — and Tawang — an area in Arunachal Pradesh which China had repeatedly claimed.

India would be formally recognising Tibet as a part of China, giving up Aksai Chin, uninhabited land on the Tibetan plateau that Beijing seized from the Indian states of Jammu and Kashmir in 1962. India agreed also “not to allow Tibetans to engage in anti-China political activities on its soil”, according to a report in The Economic Times of India.

A new cross-border trade route would be allowed through Nathula, in Sikkim, and significant road work was to facilitate higher traffic, at least on the Chinese side.

Eleven guiding principles and political parameters for resolving the disagreement, were put forth in the document, including a commitment to enhance bilateral trade from the present US$13.6 billion to US$30 billion by 2010 — trade which only a decade ago was worth just US$1 billion.

“This matter tells us that as long as the two sides bear sincerity, and patience, the border between China and India will become a bridge linking the friendship of the two sides,” Wen said of the document he signed with Singh.

“A growing and stable China is in the interest of India. Similarly, a growing and stable India is in the interest of China,” the Chinese Premier said.

“It shows a lot of give and take on both sides,” said National Security Adviser M.K. Narayanan, India’s special representative for the border talks.

The treaty “respect[s the] status quo, and is tantamount to accepting the Line of Actual Control as the border between the two countries,” said Swaran Singh, a China expert at the Jawaharlal Nehru University in New Delhi.

“The next two years are very crucial to determine how much the two sides put the guiding principles into practice for the actual demarcation of the frontier,” he cautioned.

Feasibility of a China-India Free Trade Agreement would be examined — with China eager, but India tentative.

Sunday, October 22, 2006

With online gaming in persistent worlds becoming more prevalent, a US congressional committee has begun to look into the tax implications of these booming online economies. Games such as World of Warcraft and Second Life have large player driven economic systems in which – either following the rules or against them – real world currencies are exchanged for in-game currencies. With the GDP of some of these economies rivaling that of some small countries, the US government is wondering if it is missing out on a potential source of tax revenue: or as some gamers might put it, the IRS is asking “You buy gold?”.

In cases where exchange of a real world currency for in-game currency is permitted by the rules of the game, some of these online games such as Second Life require that players report any income generated by these means to his or her government. In most on-line games however, a black market exists where players buy and sell in-game currencies in direct violation of the game’s rules; situations involving black markets are notoriously hard to tax.

Compounding the issue of currency exchange is the existence of in-game assets. In the real world if someone wins a luxury vehicle, he or she is expected to pay a capital gains tax on his or her winnings. If a 40 person “raid” in World of Warcraft gets a rare “drop,” worth up to thousands of dollars if sold illegally, should they be required to pay a capital gains tax?

Even if the issue of capital gains is ignored, there is still the matter of sales tax. In many of these games, non-player characters and players alike sell items to one another. If sales tax is to be applied, at what rate should it be charged and to what State does it go? Questions such as these have just recently been answered in much less hazy situations such as online versions of brick and mortar establishments.

Dan Miller, senior economist for the Joint Economic Committee had this to say on the issue, “I found that talking about this issue with some of the other economists on the committee, they are not really familiar with what a virtual economy is. The idea of Second Life or World of Warcraft or some of these other synthetic universes, they have trouble wrapping their head around it. So there’s an educational hurdle to overcome here.”

The preliminary findings of the committee state that virtual economies deserve clarification of existing tax laws, not new taxes.

Wednesday, February 8, 2006

Police Chief Commissioner Christine Nixon has warned of an increase in police and military activity in Melbourne, Australia, in preparation for the Commonwealth Games. Officials say a major security sweep of Melbourne is underway at the athletes’ village.

A 24-hour temporary police station inside the 20-hectare Parkville site will be staffed by 109 officers. The station will house a monitoring centre for the village’s closed-circuit TV network. Melbourne’s newest police station, keeping tabs on nearly 6000 athletes and officials from 71 countries will operate for seven weeks.

Ms Nixon said people should not be alarmed. “They will be seeing, over the next month or two, an increase in some air activity and perhaps military on the streets coming into place for the support they’ll give to the Games.” Commissioner Nixon says the defence forces have an important role to play.

“You won’t certainly see an armed soldier walking down the streets of Melbourne, that’s not the security level that we have and the presence that we need,” she said. “Military will be there, they’ll be checking trucks and cars going into venues, they’ll be doing all of that.”

More than 150 Defence Force personnel and police moved on to the village site on Tuesday. Games Minister Justin Madden said the sweep would continue until athletes arrived at the village on March 5. Sweeps of all venues will take place before the Games begin.

More than 1200 defence staff have been seconded to the Games security team. F/A-18 Hornets and Black Hawk helicopters will enforce a 75km no-fly zone around the MCG.

Every vehicle that enters the village – and every other venue – will have to first pass through a bomb search bay that includes X-ray machines. Army security sweeps are continuing across all venues. These, combined with comprehensive bag and personal checks at Games time, are seen as the best way to guard against a terrorist strike.

“If people ring up and say, ‘Oh look, there’s a bomb in it’, we’ll be pretty much able to say ‘no, there’s not’,” Commissioner Nixon said.

While security is being stepped up at the village, Ms Nixon said there is no direct threat to the Games overall. “We have a medium-level of security at these Games,” she said. “The risk assessment is we have no direct threat to the Games, no evidence at all.”

The Victorian Government has declared Birrarung Marr, Alexandra Gardens, Albert Park and the Yarra River to be official Games venues, giving police the power to enforce tough anti-protest laws. A similar ruling on Yarra Park – home to the MCG – will also come into effect.

Games laws provide for fines of $2000 for offences such as blocking access, erecting signs, kicking stones or throwing missiles in “venues”.

Monday, March 13, 2006

Queen Elizabeth II and Prince Phillip arrived in Australia yesterday for a five-day tour which includes the opening of the 2006 Commonwealth Games in Melbourne, the Queen’s 15th visit of her reign and her first since 2002.

Their tour began when they landed at Fairburn Air Force Base in Canberra where they received a state welcome, attended by Prime Minister John Howard, Governor-General Major General Michael Jeffery and several hundred well-wishers. The couple accepted flowers and chatted with the crowd for a few minutes before being driven off in a black Rolls Royce.

The Queen and Prince Philip spent last night at Government House before beginning official duties in Sydney today. In Sydney, they will officially open the new colonnade of Sydney Opera House and receive a 21 gun salute.

Republican campaigners have used the occasion as an opportunity to reopen the republican debate.

“While the queen is held in great affection by the Australian people, many Australians recognize that it is no longer sensible for us to have a citizen of another country, who visits Australia only occasionally, as our head of state,” said Allison Henry, national director of the Australian Republican Movement.

Sunday, May 8, 2005

According to American and foreign officials, White House and Pentagon officials are closely monitoring spy satellite imagery of North Korea, also known as the Democratic People’s Republic of Korea (DPRK). Preparations seem to be made for testing a nuclear weapon, including the construction of a reviewing stand, most likely for scientists or North Korean officials. It would be the first test of a nuclear weapon by North Korea.

United States officials warned that the intentions of North Korean leader Kim Jong Il are unknown, and the constructions may turn out to be a show. The extent of North Korea’s nuclear capabilities are still unknown. According to the U.S. government agency CIA, North Korea may have one or two primitive nuclear bombs. According to the head of the International Atomic Energy Agency (IAEA), Mohamed ElBaradei, North Korea may possess the material and equipment to manufacture up to six nuclear warheads. North Korea’s neighbours, however, have been thorougly briefed on the implications of a nuclear weapons test by North Korea.

North Korea is among the 188 countries to have signed the Nuclear Non-Proliferation Treaty, although they have later withdrawn again. This treaty states that only the United States, Russia, the People’s Republic of China, France, and the United Kingdom are allowed to have nuclear weapons. Kim Duk Hong, one of the regime’s most senior defectors, says that North Korea resumed the development of its nuclear weapon program as soon as the treaty was signed. Kim also stated that North Korea gained much of its expertise from Pakistan, and that only the death of Kim Jong Il and the destruction of his regime will stop North Korea’s nuclear weapons program.

In October 2002, U.S. sources stated that during a visit by Assistant Secretary of State James Kelly, North Korea admitted to running a clandestine nuclear weapons program. This was widely seen as a violation of both the Nuclear Non-Proliferation Treaty and the 1994 U.S.-North Korea nuclear pact, which were signed during the Clinton administration. North Korean officials stated that the reactivation of their weapon of mass destruction program was in response to “imperialist threats” (presumably by the United States). The United States proceeded to stop shipments of fuel oil under the Agreed Framework.

In late December 2002 North Korea drove United Nations weapons inspectors out of the country, announcing plans to reactivate a dormant nuclear fuel processing laboratory and power plant north of Pyongyang, if the United States did not agree to a non invasion pact. This nuclear reactor is thought by U.S. officials to be the source for plutonium for two previously produced atomic bombs.

Wednesday, May 10, 2006

According to the Alcohol Tobacco and Firearms Agency or ATF, at least 686 sticks of dynamite and at least 30 pounds of ammonium nitrate were stolen from Gold Mountain Mine Company in Big Bear City, California located in San Bernardino County. Fuel oil and mining equipment are also among the items stolen. When combined, the fuel oil and ammonium nitrate become combustible and authorities fear what could be done with the explosives.

“The obvious concern is someone stole it, and what are they going to do with it? This is a quantity of explosives that could do significant damage. We need to recover these items,” said John D’Angelo, spokesman for the ATF.

The thieves cut locks on the gate that leads to the facility and then cut the locks on a metal storage bin and stole its contents and everything inside the facility. The man responsible for mining operations in the area does so as a hobby. The robbery was reported on May 3.

“We urge anyone who has information about this theft to contact ATF and the San Bernardino Sheriff’s Department. Our job is to keep the public safe. We take the theft of explosives extremely seriously, and we will relentlessly follow up every lead until we solve the case,” said John A. Torres who is the special agent in charge of the ATF in Los Angeles.

Authorities have offered a $25,000 reward for information about the crime that leads to an arrest and conviction.

Tuesday, August 2, 2005

Massey Energy Co., the fourth largest coal producer in the U.S., filed a federal lawsuit against the Governor of West Virginia, Joe Manchin.

Massey’s CEO Don Blankenship alleged that Gov. Manchin acted in retaliation against the company’s coal mining operations because the company spent $650,000 in an advertising campaign to defeat the governor sponsored pension bond proposal. The $5.5 billion bond proposal, intended to shore up the state’s sagging pension plan, was defeated in a special election held in June.

The Massey lawsuit, filed last Tuesday on July 26 in the U.S. District Court in the W.V. southern district, was referred to by Gov. Manchin as having less to do with the bond proposal than with the newly increased state “severance tax” on coal. Nearly 40 million tons of coal production will be subject to the 56-cent tax.

According to Blankenship, that tax amounts to $22.4 million in additional costs for the company, but he denied the increase has anything to do with the lawsuit.

The company reported profits that almost tripled during the second quarter compared to a year ago. Of the company’s rosy earnings picture, Blankenship urged states to “show some frugality” by not placing tax burdens on coal to solve state budget shortfalls. He said his company is “playing a role” because there was no need for the bond sale and the state can afford to make payments into the pension system.

Blankenship acknowledged during a conference call the now-rescinded June 30 permit by the W.V. Department of Environment Protection (DEP). At issue was the department’s permit for mining operations near the Marsh Fork Elementary School, in Sundial, W.V. The school rests at the base of a mountain selected by Massey for “Mountain Top Removal” (MTR) mining techniques. Along with the mining equipment, a coal preparation plant and a sludge pond were established on the mountain. Protest groups, mainly the Coal River Mountain Watch and Mountain Justice Summer, presented a list of demands to Massey officials that included shutting down the preparation plant, ceasing all MTR mining above the Marsh Fork Elementary School, and abandoning plans for a second coal silo near the school. They also ask that the Marsh Fork school be cleaned up or relocated. The state permit for a second coal storage silo was rescinded by the DEP the same day Massey filed the Manchin lawsuit.

Gov. Manchin in June said that Blankenship could expect tougher state scrutiny of his business affairs since the Massey media campaign against the pension bond proposal. “I think that is justified now, since Don has jumped in there with his personal wealth trying to direct public policy,” he said at an appearance at an American Electric Power event in Putnam County.