Forget the "axis of evil." Economic recession now threatens political upheaval in important parts of the world, with national security consequences here in the US. We look at potential sources of trouble today. Is Washington paying attention? Also, stocks rally on news from Citibank and Fed Chair Ben Bernanke, and as China forces a 50th anniversary celebration of his departure, the Dalai Lama delivers a blistering critique of China.
FROM THIS EPISODE
The religion, culture, language and identity of Tibet are "nearing extinction," according to the Dalai Lama today in a speech attacking China 50 years after an upheaval that caused him to flee Tibet for India. Last year, on the 49th anniversary of his departure, there was a widespread rebellion that led to brutal repression. This year, China has cracked down hard. But that could that could make matters worse. That's according to Steven D. Marshall, senior advisor and Tibet expert at the Congressional-Executive Commission on China, which monitors human rights for Congress and the President.
Steven Marshall, Senior Advisor, Congressional-Executive Commission on China
Former President Bush warned of an "axis of evil" poised to use nuclear weapons and provide support for international terrorism. With the World Bank predicting that the global economy will shrink this year for the first time since the 1940's, the Director of National Intelligence and the head of the CIA say the bigger threat is political instability caused by the global recession. In Russia and Eastern Europe, the Middle East, Africa, Asia and Mexico local upheaval could have ugly consequences worldwide. Will the industrial nations continue to prop up sagging economies or are they too preoccupied with their own problems to look up and see what's coming?
The US stock markets rallied this morning as Citibank announced that it's making big money this year and Federal Reserve Chair Ben Bernanke called for a sweeping overhaul of financial regulations. Craig Torres writes for Bloomberg.com.
Craig Torres, Federal Reserve Correspondent, Bloomberg News