Myanmar political figure Aung San Suu Kyi freed from house arrest

Myanmar nationals hold portraits of opposition leader Aung San Suu Kyi during a protest outside the Myanmar embassy in Phnom Penh in the May 27, 2009 file photo. (Xinhua/Reuters File Photo)

Aung San Suu Kyi, a noted political figure and leader of the "dissolved" National League for Democracy (NLD), was freed by the government on Saturday evening after serving 18 months' confinement to her residence in Yangon.

Aung San Suu Kyi's terms of house arrest expired on Saturday.

Barricades placed in front of her lake-side residence have been removed where hundreds of people along with newsmen had been gathering day and night since Friday.

NLD headquarters in Yangon are also packed with people to greet freed Aung San Suu Kyi.

The release of Aung San Suu Kyi, 65, came six days after Myanmar held a multi-party general election on Nov. 7, which her party boycotted out of election law issue.

Aung San Suu Kyi, NLD General Secretary, was last sentenced by a district court to three years' rigorous term on Aug. 11, 2009 for allegedly violating her terms of house arrest by accommodating a U.S. citizen, John William Yettaw, who swam across the Inya Lake in Yangon and sneaked into her lakeside house for three days from May 3 to 5 when she was under restriction.

The sentence was then commuted half and the remainder was suspended by the ruling State Peace and Development Council (SPDC) by putting her under 18 months of house restriction until expiry on Saturday.

She failed in appealing against her house arrest for several times earlier over the detention period.

Aung San Suu Kyi had been detained off and on for 15 out of the past 21 years from July 1989 to May 26, 2009 with the first being for nearly six years until July 10, 1995 on charge of "endangering security of the state". The second time was from Sept. 22, 2000 to May 2002 for her defiance of the government's travel restriction by forcing her way to the second largest city of Mandalay. The third time, which was from May 30, 2003, was due to the Dabayin bloody incident in northwestern Sagaing region in which clashes occurred between government supporters and NLD supporters. The fourth from May 2009 to date was due to "Yettaw Incident".

Under an offer of Myanmar top leader Senior-General Than Shwe, SPDC Chairman, for a conditional and direct talk to her personally in 2007, Aung San Suu Kyi met with Myanmar Liaison Minister U Aung Kyi for five times with the last in January 2008 since talks were initiated in October 2007.

Than Shwe's conditions set Aung San Suu Kyi to abandon her alleged" exerted efforts for confrontation, utter devastation, and imposing all kinds of sanctions including economic sanctions against Myanmar" which Aung San Suu Kyi denied.

Source: Xinhua
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US plays cards poorly with China: Nobel laureate

By Li Xing (chinadaily.com.cn)
Updated: 2010-11-14 07:41

This October 9, 2006 file photo shows Edmund Phelps at Columbia University. [columbia.edu]

 TANGIER, Morocco -- "The United States did not play its cards very well with China," American economist and Nobel Prize laureate Edmund Phelps said on Saturday in New York, during a live video conference with participants of the 2010 MEDays in Morocco's northern coastal city of Tangier. 

Phelps made the remark while responding to a question whether the US was somewhat isolated during the G20 summit in Seoul.

China has been showing serious efforts in reducing its dependence on exports, said the economist. "China is moving in the right direction."

China needs time to adjust its economy and cut down its reliance on exports, Phelps said. But both the US and Europe try to beat up China, placing China in a tight space, he said.

The real problem is the conflicts between Europe and the US as they fight to export more. And Obama came up with "unpopular solutions", Phelps said.

Phelps is the winner of the 2006 Nobel Prize in economics.

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Global Biz G20 refuses to back US push on China's currency: positive results

 G20 refuses to back US push on China's currency

(Agencies/Xinhua)
Updated: 2010-11-12 18:54

SEOUL, South Korea - Leaders of 20 major economies on Friday refused to endorse a US push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.

At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies -- including US President Barack Obama and Chinese President Hu Jintao -- issued a statement that only said they agreed to refrain from "competitive devaluation" of currencies.

Chinese President Hu Jintao (R) meets US President Barack Obama as part of the G20 Summit in Seoul, Nov 11, 2010. [Photo/Xinhua]

Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis. Using a slightly different wording favored by the US -- "competitive undervaluation" -- would have shown the G20 taking a stronger stance on China's currency policy.

Special coverage: G20 Summit in Seoul Related readings: President Hu leaves for Japan after G20 summit G20 Summit promotes innovative finance models for SMEs  US panelists pessimistic about G20 fruit G20 leaders convene in Seoul as summit kicks off

The crux of the dispute is Washington's allegations that Beijing is artificially keeping its currency, the yuan, weak to gain a trade advantage. But the US position has been undermined by its own recent policy of printing money to boost a sluggish economy, which is weakening the dollar. 

Many countries are irate over the Federal Reserve's plans to pump $600 billion into the sluggish American economy. They see that move as a reckless and selfish scheme to flood markets with dollars, driving down the value of the US currency and giving American exporters an advantage.

Some critics warn that US interest rates kept too low for too long could inflate new bubbles in the prices of commodities, stocks and other assets. Developing countries like Thailand and Indonesia fear that falling yields on US government bonds will send money flooding their way in search of higher returns. Such emerging markets could be left vulnerable to a crash if investors later decide to pull out and move their money elsewhere.

Still, the leaders vowed to fight protectionism.

"Recognizing the importance of free trade and investment for global recovery, we are committed to keeping markets open and liberalizing trade and investment," the joint statement said.

The G20 leaders also said they will pursue policies to reduce the gaps between nations running large trade surpluses and those running deficits.

The G20 Seoul Summit has confirmed the 6-percent shift of quota shares to emerging economies in the International Monetary Fund, according to the joint communique.

"Today, we welcomed the ambitious achievements by the Finance Ministers and Central Bank Governors at the Gyeongju Meeting and subsequent decision by the IMF, on a comprehensive package of IMF quota and governance reforms," said the communique.

The reform are an important step toward a more legitimate, credible and effective IMF, by ensuring that quotas and Executive Board composition are more reflective of new global economic realities, it said.

The IMF reform, it said, would continue the dynamic process aimed at enhancing the voice and representing of emerging market and developing countries, including the poorest, through a review of the quota formula by January 2013.

And the next general review of quotas would be completed by January 2014, it said.

China sees positive results at G20 Seoul summit

SEOUL - The Group of 20 (G20) summit that ended Friday has achieved positive results with concerted efforts from all participating nations, Chinese delegation spokesman Ma Zhaoxu said.

Special Coverage: G20 Summit in Seoul Related readings: G20 refuses to back US push on China's currency  G20 summit agrees on trade, currencies  Hu presents 4-point proposal at G20 summit  G20 leaders convene in Seoul as summit kicks off

Ma said that the world economy is gradually recovering, but uncertainties still remain, and that the Seoul summit witnessed the framework of G20 shifting its focus from emergency response to long-term economic governance. 

Firstly, all member countries vowed to strengthen the role of the G20, and properly deal with the new risks and new challenges in the international financial sector so as to jointly boost the positive, sustainable and balanced growth of the global economy, Ma said.

Secondly, G20 leaders agreed to further promote reform of international financial institutions, and confirmed the 6-percent shift of quota shares to emerging economies in the International Monetary Fund, he said.

Thirdly, G20 leaders for the first time listed the issue of development as a major topic, and the summit endorsed the Multi-year Action Plan on Development over the medium term, Ma said.

And fourthly, based on the achievements made in previous summits, G20 leaders pledged continuous efforts to intensify financial regulation and combat trade-protectionism, and put forward a series of new measures and steps which will be conducive to the long-term healthy and steady development of the world economy, he said.

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