family dinners

Obama has launched a tax on multinational corporations that transfer technology developed in the United States to off-shore partners in friendlier tax climates. The administration has also limited multinationals' ability to borrow dollars for overseas investment.

The measure is part of the President's FY 2010 budget and aims to reduce the budget, however, Chairman Baucus and Ranking member Grassley of the Senate finance committee received the proposition coldly. Bankers and business types are pissed.

Under the president’s budget, the deficit would decline from 10.6% of GDP in FY 2010 to 3.9% by 2015. However, the deficit would never reach the 3 per cent level required to stabilise the ratio of government debt to national output, which would keep on rising to 77 per cent of GDP by 2020.
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Here is a bit of perspective on the possible ramifications and reverberations of the Chinese trade threats over the weekend. How far is China willing to go to hamstring the U.S. aerospace industry and what collateral damage will such aggressive behavior precipitate?

The FT's Jamil Anderlini and Kevin Brown explore the greco-roman-essence of bi-polarity.
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Moldovan oil company Ascom is facing anger from local Sudanese who feel poorly treated in the company's search for oil. The tale is analogous to many relationship between multinationals and indigenous populations around the world.

The rising tensions come as UN secretary-general Ban Ki-Moon warned that south Sudan may ardently seek independence from the north in a referendum next January. Mr. Ban comments signal international will to stem a possible break up over fear that secessionist movements could spread across the continent.

African Union chairman, Jean Ping, expressed similar fears and a "senior diplomat" identified the potential for independence movements in Nigeria, Democratic Republic of the Congo and Ethiopia.