UN Security Council Proves Toothless in Ukraine Crisis

Special Economic Analysis
by Peter Warburton, PhD

Concerns about China’s financial sector have resurfaced in recent months as another trust product, Credit Equals Gold No.1, failed and its investors were bailed out at the last minute by an unidentified third party. Most recently, Shanghai Chaori Solar Energy Science & Technology is rumored to have become the first company to default in China’s domestic corporate bond market. Examples such as these have fueled widespread speculation that China is on the brink of a financial collapse.

Responding to public outcry stoked by inaccurate media reports, President Barack Obama is weighing four options to reform a National Security Agency program tracking hundreds of millions of U.S. phone records. LIGNET assesses that each option weakens or destroys this important counterterrorism intelligence effort.

The deadly machete attack Saturday at a southwestern China train station is a worrying development in the standoff between ethnic Han Chinese and Muslim Uighurs in the remote, autonomous region of Xinjiang. A blade-wielding gang of eight Uighur extremists managed to kill 33 people and injure scores more before police were able to stop them.

Russia’s military incursion into Ukraine is aimed at restoring the government of ousted pro-Russia President Viktor Yanukovych and annexing the strategically important Crimean Autonomous Region. The developing crisis seemingly presents the United States and NATO with limited response options, but some form of action is vital to prevent Moscow’s moves from setting a destabilizing precedent. This LIGNET analysis lists 14 possible responses to Russian aggression in Ukraine.

Ahead of a referendum scheduled for September, the debate over Scottish secession has become increasingly heated in recent weeks. Scotland’s First Minister Alex Salmond has confronted Britain’s political leadership in Westminster over a proposed currency union amid a storm of criticism from Scottish multinational corporations and global credit-rating agencies.

Global attention is fixed on Russia’s aggressive and calculated moves against Ukraine, but understanding the Kremlin’s long-term goals is critical if the West is to formulate an effective strategy for dealing with possible future crises. Russian President Vladimir Putin views it as a solemn duty — and strategic imperative — to rebuild to the fullest extent possible Russia’s control over nations on its periphery. That perspective provides insights into what he might do next in Ukraine and beyond.