Académique Documents
Professionnel Documents
Culture Documents
October meetings........................ 1
More Info ...................................... 2
UNA-USA United Nations Association
Upcoming Events........................ 3
Tampa Bay Chapter
Global Finance ............................ 4
www.unatampabay.org
Chapter Info.……………………….5
“Working Together for Peace, Freedom and Justice” Oct. 2008 Volume XXXIII, No. 8
$15 Presented by Daniel H. Yeh, Ph.D., P.E. Assistant Professor and Patel Research Fellow
$12
STUDENTS You may rsvp@unatampabay.org or go to www.unatampabay.org
$10 ----------------------------------------------------------------------------------------------------------------------------------------
Have a conversation about climate change with a Russian diplomat, a labor activist in Zambia, an
energy expert from Denver, and a Nobel Peace Prize Winner in Connecticut – physically and
electronically at UT on Sat., Oct. 11.
The Earth Charter Climate Change Community Summit, coordinated by Earth Charter U.S., will highlight
sustainability initiatives in business, education and government from more than 25 locations, including Portland,
Ore., Honolulu, Hawaii, New York, N.Y., Senegal, Africa, Temagami, Canada, Okinawa, Japan, Hamburg,
Germany and Bournemouth, UK.
For more information about The University community is invited to the day-long summit, which will be held in Falk Theatre and the Vaughn
Center from 10 a.m. to 5 p.m. Registration begins at Falk Theatre at 10 a.m.
the summit, visit
www.earthcharterus.org. In 2001, UT helped launch Earth Charter U.S., which was striving to create a national movement focusing on
sustainability. Its initiatives were broadcast via satellite from UT to 12 U.S. cities. Today Earth Charter U.S. is a
volunteer community-building organization based in Tampa. Con’t. on page 2
Tampa Bay Chapter 2
Kind Regards,
for registered attendees. need to work cooperatively to solve the
world’s most pressing challenges and to
Kelly Miliziano
Tampa Bay Chapter President rebuild America’s reputation in the world. We
EMERGENCE OF ISLAMIC Progress was also made on key convergence CHINA PAPER URGES NEW
SINGLE CURRRENCY factors required to underpin the common CURRENCY ORDER AFTER
member states all city currency, including setting the ratio of budget “FINANCIAL TSUNAMI”
deficit and public debt to the gross domestic Threatened by a "financial tsunami," the world
must consider building a financial order no
product, target interest rates and reserve
longer dependent on the United States, a
requirements. Progress yet remains in reaching leading Chinese state newspaper said on
Wednesday.
a consensus on inflation, the last remaining
stumbling block to creating the common The commentary in the overseas edition of the
People's Daily said the collapse of Lehman
currency. Brothers Holdings Inc "may augur an even
International Monetary Fund Chief Dominique larger impending global 'financial tsunami'."
Strauss-Kahn, who met with the Gulf The People's Daily is the official newspaper of
Finance chiefs of five of the six-member, oil- Cooperation Council finance ministers in China's ruling Communist Party, and the
rich Gulf Cooperation Council approved a overseas edition is a smaller circulation
Jeddah, hailed the move by the Gulf states offshoot of the main paper.
proposal to create a monetary union as a toward economic integration, though he Its pronouncements do not necessarily directly
move toward adopting a single currency, reflect leadership views, but this commentary
continued to express doubts the single currency by a professor at Shanghai's Tongji University
according to the AFP. would be adopted within two years. suggested considerable official alarm at the
strains buckling world financial markets.
"Achieving monetary union by
The six Islamic states constituting the Gulf 2010 will be a major challenge, as much China's central bank earlier this week cut its
Cooperation Council are Bahrain, Kuwait, lending rate for the first time in six years, a
remains to be done to enable the creation of a move analysts said was aimed at bolstering
Oman, Qatar, Saudi Arabia and the United single currency within two years," Straus-Kahn. the economy and the battered stock market.
Arab Emirates. Oman pulled out of the "The eruption of the U.S. sub-prime crisis has
"Overcoming the current inflationary pressures, exposed massive loopholes in the United
agreement last year. developing a clear vision of the powers of the States' financial oversight and supervision,"
Five states in the compact have agreed to set writes the commentator, Shi Jianxun.
future common central bank, choosing an
2010 as the target date for the creation of a exchange regime of the common currency, and "The world urgently needs to create a
monetary union and the adoption of common diversified currency and financial system and
harmonizing financial regulations and structures fair and just financial order that is not
currency. will be critical in this process." dependent on the United States."
The emergence of an Islamic single currency But Vice Premier Wang Qishan, on a visit to
the United States, told U.S. trade officials in a
among these oil-rich Middle Eastern countries One factor easing the transition toward a single meeting on Tuesday that China and the
marks a significant step in the emerging United States needed to maintain close
currency is that the six Gulf Cooperation economic ties with global markets going
worldwide movement to abandon national Council member states all currently peg their through such turbulence.
currencies in favor of regional currencies, currencies to the U.S. dollar. "The Chinese government is well aware of the
along the model where the EU states have Source: http://www.wnd.com fact that the United States, which is the
abandoned their national currencies in favor of world's largest developed country, and China,
which is the world's largest developing
the European Central Bank and the euro. country, should have constructive and
In 2002, the finance ministers of the Gulf cooperative economic and trade relations," he
said. China is a major buyer of U.S. Treasury
Cooperation Council states sought out the bonds, and through its sovereign wealth fund
assistance of the European Central Bank, as it has taken stakes in two large U.S. financial
institutions.
the model for their single currency, according
to BBC reports. In July 2005, China revalued the yuan and
freed it from a dollar peg to float within
The council was created in 1981 to promote managed bands. But the yuan and China's
the development of the member countries. trade remains tightly linked to the fortunes of
the dollar. The commentary suggested China
The monetary union will entail the creation of a must brace for grave economic fallout and
central bank to issue the single currency. look to alternatives, saying the crisis brings to
mind the Great Depression of the 1930s.
Tthe finance and economy ministers reviewed
the European Union's response to the "Lehman Brothers announced bankruptcy will
not only have a domino effect on the global
council's view on eliminating obstacles that financial world, it will bring a shock to the
have blocked a long-stalled free trade world economy," the front-page comment
stated. Source: Reuters News
agreement with the EU.
Tampa Bay Chapter 5
DIRECTORS
BECOME A MEMBER Yes! I want to make a donation of $________ to help the work of UNA-USA.
All dues and donations are tax deductible. Please make checks payable to: UNA-USA and send to:
www.UNAUSA.org UNA-USA, 801 Second Avenue, New York, NY 10017-4706.
A Non-Profit Organization
UNA-USA Tampa Bay Chapter
www.unatampabay.org