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Showing results for tags 'Business Insider'.
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8 - 6 - 2013 The Pentagon is looking to bolster its military options for Syria's civil war by sending $2.7 billion in weapons to Iraq, despite the country being on the verge of civil war. The weapons deal would include 681 Stinger anti-aircraft missiles and 40 truck-mounted launchers, as well as three Hawk anti-aircraft batteries with 216 Hawk missiles, according to Agence France Presse. The sale is primarily viewed as a way to bolster a possible no-fly zone in Iraq, though it would also help to cut off Iranian supplies to Syria through Iraqi air space. "This capability will provide Iraq with the ability to contribute to regional air defenses and reduce its vulnerability to air attacks and also enhance interoperability between the government of Iraq, the US, and other allies," the Pentagon said in a statement. Needless to say, arming Iraq might not be the best decision for Washington. The country is on the brink of total dissolution, the Kurds are acting autonomously in Syria as well as Iraq, and sectarian fighting is approaching mid-2006 levels. From Reuters: The attacks have raised fears of a return to full-blown sectarian conflict in a country where ruling Shi'ites and minority Sunni Muslims and Kurds have yet to find a stable way of sharing power. More than 1,000 Iraqis were killed in July, the highest monthly death toll since 2008, the United Nations said last week. One of the main concerns for not arming Syrian militias in the first against Assad is that the same stinger missiles could fall into the wrong hands. With the resurgence of Al Qaeda in Iraq, now might not be the best time to go throwing anti-aircraft weapons at President Nouri al-Maliki. As Kim Kagan notes in the Weekly Standard, “ Some of the militia activity is occurring within sight of Iraqi Security Forces checkpoints,” suggesting Maliki, “is either tolerating it or has lost control over the escalation.” http://goo.gl/UW03Gz -
3 - 2 - 2013 A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday. Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow. Those fears have largely been fueled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals. Yi said a currency war could be avoided if major countries observed the G20 consensus that monetary policy should primarily serve as a tool for domestic economy, the Xinhua report said. But China "is fully prepared", he added. "In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries." South Korea's incoming president Park Geun-Hye has also signaled her willingness to step in to stabilize the won and protect exporters battling a stronger Korean currency and a weaker yen. http://goo.gl/DnSln