Economy and energy dominate second presidential debate; Thai Pm refuses to resign; stock markets slide from Korea to Egypt; Mbeki supporters split ANC; and more
Top of the Agenda: U.S. Presidential Debate
In their second debate, U.S. presidential candidates Sens. John McCain (R-AZ) and Barack Obama (D-IL) sparred over the limping U.S. economy and energy policy; both tied the country's recovery to the latter. Obama faulted McCain for a record of deregulation that he said has contributed to the current crisis; McCain, for his part, presented a new economic proposal under which the U.S. Treasury would buy up problem mortgages, in effect refinancing them (NYT) at prices homeowners can afford. The Wall Street Journal cites McCain's campaign as saying the plan would cost roughly $300 billion. Opinion surveys have shown respondents more confident in Obama's ability to handle an economic crisis.
Both candidates also stressed the need for energy independence, with Obama citing it as a national security concern (WashPost). Obama also said developing new sources of energy would serve as a major boost for the U.S. economy, creating jobs the way the technology boom did in the 1990s.
Background:
- This CFR.org Issue Tracker looks at both candidates' positions on energy policy. This one looks at their policy statements on finance and the financial crisis.
- This candidate bio profiles McCain's positions on an array of foreign policy matters. This one profiles Obama's.
Pacific Rim: Thai Unrest
Thailand's new Prime Minister Somchai Wongsawat rejected calls for his resignation (Bangkok Post) and refused to dissolve the country's House as violent clashes between protesters and police continued in Bangkok. The BBC reports the protesters have vowed to continue demonstrations until the government is removed.
S.KOREA: The Korea Times reports the South Korean currency, the won, has fallen to a ten-year low against the U.S. dollar, and that stock markets have gone on a parallel slide.
Elsewhere
More steep market declines; Japan, Hong Kong and even the Middle East tumble.
Thabo Mbeki supporters move to split ANC in South Africa.