Pakistan's All Weather Ally

As the controversial nuclear deal between India and the United States moves toward a final review in the U.S. Congress, Pakistan appears to be pushing for a similar deal (IANS) with China. The Bush administration won approval for the India arrangement before the Nuclear Suppliers Group earlier this month, and both Bush and Indian Prime Minister Manmohan Singh have been actively lobbying for it at home and abroad. But Washington has ruled out any possibility (PTI) of cutting a similar deal with Pakistan. Many now expect China to step into the void.

By CFRUSA.

Governance Policy Resource.

Wall Street's Coming Reforms

The turmoil that rocked the global financial sector this week, bringing storied institutions to their knees and prompting harrowing declines for major stock indices, left more than a measure of uncertainty in its wake. Analysts generally declined to hazard near-term economic predictions, focusing instead on what might halt the contagion. Just when the government appeared to have said "enough," refusing to save the investment bank Lehman Brothers, the potential collapse of America's largest insurer, AIG, forced Washington back into the bailout pool (WSJ).

By CFR, USA.

Governance Policy Resource.

Japan's Problem-Ridden Ruling Party

Japan's ruling party, the Liberal Democratic Party (LDP), will hold elections on September 22 (Xinhua) to decide the new party leader who will take over as the country's prime minister. Japanese Prime Minister Yasuo Fukuda abruptly resigned (LAT) on September 1, leaving the LDP scrambling for leadership ahead of a crucial national election to be held before the end of summer 2009. This is the second Japanese prime minister in a row to have quit his post after serving less than a year in office. Fukuda's predecessor Shinzo Abe resigned in September 2007, complaining of a stomach ailment.

By CFR, USA.

Governance Policy Resource.

Bailouts Revisited

Earlier this year, with Bear Stearns teetering on the verge of collapse, Uncle Sam stepped in. The New York Federal Reserve provided the investment bank an emergency loan, saying the money would prevent an all-out collapse—and whatever market turmoil might follow. It wasn't an investment so much as an insurance policy, and global markets generally reacted positively to the cautious approach.

By CFR, USA.

Governance Policy Resource.

Despite Pledges, Nickelodeon Still Marketing Nutritionally Poor Food

Despite its public statements and pledges to help combat childhood obesity, the overwhelming majority of foods marketed by the children's media giant Nickelodeon are of poor nutritional quality, according to an analysis conducted by the nonprofit Center for Science in the Public Interest.

By CSPI, USA.

Health Policy Resource.