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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (7300)	5/31/2004 11:37:40 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Doubts About Saudi Ability to Pump More nytimes.com The latest attack on foreign residential and office complexes in Saudi Arabia has ratcheted up concern over the nation's ability to increase oil production at a time when global petroleum supplies are becoming increasingly sensitive to any disruptions. The attack had no immediate effect on Saudi Arabia's production and transportation of oil. Still, its violent outcome, including the killing of least 22 people and a commando raid freeing dozens of foreign hostages, illustrated how terrorists penetrated a center of the Saudi oil industry.

To: Crimson Ghost who wrote (7300)	5/31/2004 12:10:39 PM
From: mishedlo	Respond to of 116555

China Rethinks Military Strategy In Light of U.S. War in Iraq online.wsj.com WASHINGTON -- The speed with which U.S. ground forces captured Baghdad and the prominent role played in Iraq by U.S. commandos, have led China to rethink how it could counteract the American military in the event of a confrontation over Taiwan, the Pentagon says. The Chinese also believe, partly from its assessment of the Bush administration's declared war on terrorism, that the U.S. is increasingly likely to intervene in a conflict over Taiwan or other Chinese interests, according to the Pentagon analysis. "Authoritative commentary and speeches by senior officials suggest that U.S. actions over the past decade … have reinforced fears within the Chinese leadership that the United States would appeal to human rights and humanitarian concerns to intervene, either overtly or covertly," said the Pentagon. ... .... China's leaders appear to have concluded that the net effect of the U.S.-led campaign [against terrorism] has been further encirclement of China," specifically by placing U.S. military forces in Uzbekistan and other Central Asian nations, and strengthening relations with Pakistan and India, concluded the Pentagon analysis. Because China's leaders believe their military forces are not yet strong enough to compete directly with the American military, they are putting more emphasis on preventing U.S. intervention first. This includes development of what the Chinese call "assassin's mace" weapons, the Pentagon said. The report said U.S. officials are not sure what "assassin's mace" is. "However, the concept appears to include a range of weapon systems and technologies related to information warfare, ballistic and anti-ship cruise missiles, advanced fighters and submarines, counterspace system and air defense," according to the Pentagon .... .... The Pentagon for several years has expressed concern at China's military modernization, especially its emphasis on deploying more shorter-range ballistic missiles that can strike Taiwan. The latest Pentagon report also said that since it last reported to Congress a year ago, China's imports of armaments have increase by 7% in value. These include a $1 billion deal for 24 Russian Su-30 fighter aircraft and $500 million for Russian SA-20 surface-to-air missile systems.