- It was a day of chaos in Asian markets yesterday. The Chinese stock market has slumped to its lowest level in 2 years yesterday, with the Shanghai and Shenzhen composite indices falling 6.3 and 6.5 percent respectively. Over in Japan, the yen surged to a 13-year high against the dollar while the stock market tumbled to a 26 year low. Hong Kong ended the day down 12.7 percent, Manila down 12.3 percent and Thailand down 10.5 percent.
- In his first public address since surgery for gallstones, the Dalai Lama has indicated he’s lost hope in negotiating with China. 300 delegates representing the worldwide exiled Tibetan community are set to meet soon to chart the future course of action for the Tibetan movement, and there is the possibility of an historic switch from demanding autonomy to a demand for full independence.
- Alan Wheatley of Reuters offers an interesting analysis of China’s attempts to tone down expectations that it holds the key to a new global financial order.
- Pope Benedict has ended a synod of bishops on Sunday urging Chinese bishops (who were banned from attending the meet) to persevere amid the hardship.
Photo from fateless_gypsy