U.S. losing its allies in Iraq

[lovuian]

http://newsfromrussia.com/world/2005/07/15/60600.html

U.S. losing its allies in Iraq

12:58 2005-07-15
South Korea is afraid of becoming the next victim of terrorists, that's why its lawmakers call for withdrawal of South Korean troops troops from Iraq.

A group of lawmakers submitted a resolution to the National Assembly on Friday calling for the withdrawal of the more than 3,000 South Korean troops from Iraq following last week's terrorist attacks in London.

"There is a high possibility that South Korea could be the next target of terrorism," 31 opposition and ruling party lawmakers said in a statement. "To prevent terrorist attacks in the country we should get rid of the root cause and the only way to do that is withdrawing troops."

more...

Another ally starts to leave us!!!

[Oversea Visitor]

1. Shits ahead

ABANDON SHIP ........

The Chimp Titanic is sinking

[Faygo Kid]

2. What a waste. What a tragedy.

The South Koreans are of course right to get out of this madness. Our kids from West Virginia, Michigan, and everywhere else except for where the families of wealthy GOP contributors live will go back for their third tour now. I am more heartbroken and crestfallen than angry anymore. I don't have anything else creative or clever to say. And that's not me, on this site.

[Gloria]

3. This may be more of a reason......THIS is unreal......

As posted to today's World Media Watch

3//Asia Times Online, Hong Kong Jul 15, 2005

http://www.atimes.com/atimes/Korea/GG15Dg01.html



SEOUL’S WARNING TO THE US ON PYONGYANG

By Todd Crowell

The South Korean government has withdrawn its financial support for an influential Washington DC-based policy institute to show its displeasure over a series of articles about the North Korean nuclear weapons situation that the American Enterprise Institute (AEI) published in the summer issue of its magazine, The American Enterprise.

"Nip it Now," reads the cover line of the July-August issue, with a picture of a huge nuclear explosion. The sub-heading reads, "Averting a Nightmare in North Korea." Inside, the authors lay out the case for dissolving the alliance with South Korea, stifling China if it doesn't pressure the North into giving up its nuclear weapons program, and waging a preemptive war.

The American Enterprise is a publication of the AEI, which has provided many of the senior figures of the current Republican administration. Part of its US$30 million annual budget has been underwritten for years by the Korea Foundation, a government institution under the Foreign Ministry in Seoul.

Korean Foreign Minister Ban Ki-moon recently told a committee of the National Assembly that the Korea Foundation had ended is support for the AEI because of the articles. He said that South Korea had contributed about $1.4 million to the institute's activities since 1992. President Roh Moo-hyun fired back himself: under no circumstances will South Korea allow the US to attack North Korea.

The authors of the controversial articles are Daniel Kennelly, managing editor of The American Interest, conservative writers Gordon Cucullu and Victor Davis Hanson, James Lilley, a former ambassador to South Korea and China, and Nicholas Eberstadt, author of The End of North Korea.

That a major publication aimed at conservatives should raise the issue of North Korea's nuclear weapons program, and advocate preemptive war and regime change, is fairly standard neo-conservative fare. What is unusual is the amount of venom that was directed at America's presumed ally in any such endeavor, South Korea.

MORE

[burrowowl]

7. The AEI consists of

fascist/corporatists and the money pays for their propaganda. I'm glad SK withdrew their money. About time they woke up!

[VegasWolf]

4. This shite's, doesn't it? nt

[mom cat]

5. Here is another article on the growing tensions between the US and

South Korea:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x139622

[UpInArms]

6. Carlyle Group has some troubles in S. Korea right now, too

http://www.privateequityweek.com/pew/freearticles/1110466030888.html

Korea Invades Carlyle Group Office
Jerry Borrell
Apr 26, 2005

The rising tide of resentment in Asia over non-tax paying, U.S.-based private equity firms has reached Korea.

Korea's National Tax Service announced last week that it is investigating several U.S.-based private equity firms, following several prominent and lucrative exits in the country. Firms identified by the Korean Herald as under investigation include Newbridge Capital, The Carlyle Group, Lone Star Funds and CitiGroup, among others.

Similar scenarios are taking place in Japan and China. Both countries are looking at forming new tax regulations that would impact U.S. private equity firms doing business in these countries. The push for the tax measures are largely due to the many profitable deals being made by U.S.-based private equity firms. In China, for instance, eight VC-backed Chinese companies went public in 2004 on U.S. exchanges, including the $1.8 billion IPO of Semiconductor manufacturing International Corp. (NYSE: SMI), which was backed by a number of Asian and U.S. firms.

In Korea, though, the issue is becoming volatile.

One source told PE Week that tax authorities "invaded" Carlyle's offices in Seoul last week, demanding access to documents and seizing files, as part of an investigation to determine whether the firm qualifies as a permanently domiciled investment company in Korea. If so, the firm may be held liable to pay taxes on deals, such as its lucrative $2.7 billion sale last year of KorAm Bank to Citigroup. Carlyle had invested in KorAm Bank in 2000 and again later in a consortium with JPMorgan Partners for a total investment of $435 million, which means the exit created a 6X return.

...more...

[cliss]

8. This is some strange stuff going on.

Thanks for the update, UIA. WHen I read things like this, I can't help thinking about RumsFailed's boastful words, "We can fight several wars at the same time".

Maybe like walking and chewing gum at the same time for the old man.

I wonder just how capable we really are of "multi-tasking" in a world that's becoming increasingly volatile and dangerous.

**my hunch: not much. I don't think we can engage in several conflicts at the same time. This administration can't even hold it together in 2 currently.