Word: china
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...Even countries apparently powering through the recession are hounded by tricky policy conundrums. After Chinese banks engaged in massive lending aimed at combating the global downturn, China's regulators warned in late November that they must meet mandated capital requirements or risk sanctions, a strong sign that Beijing is worrying over the possible fallout from its stimulus program. China also faces a tough choice on its currency regime. The government is under increased pressure from the U.S. and European Union to allow the yuan to appreciate, though policymakers remain nervous about the negative effect that could have on its struggling...
...challenge of our age - averting catastrophic climate change - beyond reach. Forest destruction accounts for 15% of global emissions by human activity, far outranking the total from vehicles and aircraft combined. Forests are disappearing so fast in Indonesia that, incredibly, this developing country ranks third in emissions behind industrial giants China and the U.S. Since 1950, estimates Greenpeace, more than 182 million acres (740,000 sq km) of Indonesian forests, the equivalent of more than 95 Ulu Masens, have been destroyed or degraded...
...shop manager Zhu Baohua is on the front lines of the battle to reform the global economy. Zhu's three-floor electronics store, crammed with Sony TVs, Motorola cell phones and HP PCs, is located in a nondescript neighborhood in the western Chinese city of Xi'an. Far from China's dynamic coastal manufacturing and financial centers, Xi'an for decades has been an economic backwater known mainly as the home of China's famed terra-cotta warriors, reminders of the city's glory days as a capital of ancient dynasties...
...crossroads between east and west in the desert nation of Turkmenistan, a quiet battle is under way for natural gas, oil and influence, and the U.S. and Europe are losing out to China and the Muslim world. There's a lot at stake: the Central Asian country has the world's fourth-largest reserves of natural gas and substantial oil reserves, putting it in the same energy league as Saudi Arabia, Russia and Iraq. Plus, its position just north of Afghanistan could be hugely beneficial to NATO as it seeks more reliable supply routes to its troops on the ground...
...Turkmenistan is expected to open in December, nearly doubling the gas trade between the countries to 700 billion cubic feet a year. Because Iran already has one of the world's largest gas reserves, most of the imported Turkmen gas would be resold for profit. Not to be outdone, China signed a 30-year deal with Turkmenistan in June to buy up to 1.1 trillion cubic feet of Turkmen gas annually, starting in 2011. Work is expected to be completed on a 4,300-mile-long pipeline connecting Turkmenistan and western China in December. ("How Badly Would Sanctions...