In 2002, PBS aired a six-hour documentary based on the book The Commanding Heights: The Battle for the World Economy written by Daniel Yergin and Joseph Stanislaw. The "commanding heights" refers to the control of key segments of a national economy. Until the 1970s governments have taken the commanding heights. But in the 1980s the free market ideology transformed the landscape of global economy. The sum total of global wealth expanded, but its unequal distribution increased. The economies in crisis adopted "shock therapy" - rapid conversion to free-market capitalism in countries such as Bolivia, Peru, Poland and Russia. But as new technology and ideas drive profound economic change, unforeseen events unfold. A Mexican economy meltdown and soon all Asia was engulfed in an economic crisis. Financial contagion spreads throughout the world. Local misconduct was part of reasons. But the foremost culprit was a single global market where the IMF and the World Bank became the commanding heights, weakening the power of each government. Their primary purpose was to give technical and financial assistance, oversee exchange rates, and address global financial problems. But the unwritten goal was to integrate the elites of all countries into the capitalist world system of rewards and punishments. When they lend money to debtor countries the money comes with strings attached: structural adjustment, requiring that debtor governments open their economies up to penetration by foreign corporations. The dark side of globalization could happen anywhere. While Greek requested $59.2 billion for bailout, Washington set aside $700 billion to bailout financial companies, saying "too big to fail" in 2008. The rising economic superpower China focuses on reconstruction of the world order through Asian Infrastructure Investment Bank (AIIB) as a rival for the IMF and World Bank. But as we know Chinese deregulation in financial sector rather brought the China sharemarket bubble that already has inflicted on its banking system. Today's world is inexplicably interlinked that no one can play outside the system. The head of new anti-austerity group - Podemos - in Spain cried, "The countries have not sovereignty anymore, and we became a colony of the financial powers. If we don't have democratic control of economy, we don't have democracy. It is impossible to separate economy and democracy."
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 1. Iran nuclear deal: a triumph of diplomacy
This is the chance for Iran to play a more constructive role in the affairs of the Middle East - and for its people to come in from the cold. President Rouhani, in his statement welcoming the deal, referred to Israel by its name, rather than as "the Zionist entity".(Guardian) |
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Of all the aspects of Monday's bailout deal that Greeks found humiliating, nothing drilled into their sense of pride quite like their government's promise to sell off "valuable Greek assets" to the tune of 50 billion euros. (Time)
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With the removal of economic sanctions, Netanyahu warned, "Iran will get a jackpot, a cash bonanza of hundreds of billions of dollars, which will enable it to continue to pursue its aggression and terror." (WP)
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Though "Watchman" is being published for the first time now, it was essentially an early version of "Mockingbird." According to news accounts, "Watchman" was submitted to publishers in the summer of 1957; after her editor asked for a rewrite focusing on Scout's girlhood two decades earlier, Ms. Lee spent some two years reworking the story, which became "Mockingbird."(NYT)
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The output of a year-long study, the report cites estimates "that anywhere from 20-50 percent of music payments don't make it to their rightful owners." Proposed fixes include better behind-the-scenes technologies, a "Creator's Bill of Rights," a "Fair Music" seal and education campaigns.(NPR)
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LG, the South Korean conglomerate, has agreed to reduce the height of a tower it was planning to build for its North American headquarters on the cliffs by about half, largely preserving the sweeping horizon over the Palisades Interstate Park. Instead of rising 143 feet, its new building will be just under 70 feet high. (NYT)
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7. 재외국민 과세규정 강화 한국내 거주기간 1년→6개월로 단축
올해부터는 183일 이상 한국 내에 거주할 것을 필요로 하는 직업을 갖거나 가족, 직업, 자산 상태에 비추어 183일 이상 국내에 거주할 것으로 인정되는 경우에는 한국 내에 주소를 가진 것으로 간주. 이번 조치는 해외 거주자를 가장한 편법 탈세 방지를 막는 차원에서 추진된 것으로 거주자로 판단될 경우 소득세 과세 대상이...
재미한인과학기술자협회(김영수 회장) 주최의 한미과학기술산업 학술대회가 오는 29일부터 8월1일까지 조지아 주 애틀란타에 위치한 하얏트 리젠시 애틀란타(Hyatt Regency)에서 개최. 기조연설자로는 "한국의 스티븐 호킹"이라고도 불리는 이상묵 서울대 지구환경과학부 교수와 강성모 카이스트 총장, 에일린 폴락 미시간대 교수, 박찬모 전 포스텍 총장 등이 참석."이민 1세대 회원들이 당시 낙후했던 모국 과학기술산업의 기틀을 닦는데 기여했다면, 지금은 차세대 과학기술 리더들이 한미간의 협력의 고리를 이어나가야 할 것"
한국어정규과목채택추진회(회장 김영덕·이하 '한정추') 에 따르면 2015~2016학년도가 시작되는 오는 9월 학기부터 버겐카운티 노던밸리 리저널 학군내 데마레스트 고교와 올드태판 고교 등 2개 고교에서 한국어가 정규과목 채택돼 수업이 진행. 실제 노던밸리 리저널 학군이 한국어를 정규과목으로 더 빨리 채택할 수도 있었으나 교사 수급 문제가 발목을 잡아왔던 것. 이같은 난관에도 데마레스트, 올드태판 고교 한인 학부모들이 한국어 과목 개설을 위해 교육위원회에 지속적으로 요청하면서 결실을 맺은 것으로 평가. 
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