Broadcasting Time: 07:00-08:00, GMT+08:00, 2010-03-27
Hello and Welcome to News and Reports on China Radio International.
In This Edition
US and Russia finalize a new nuclear disarmament deal to replace the expired Strategic Arms reduction Treaty, agreeing to reduce their deployed nuclear warheads by 30 percent.
A South Korean naval ship sinks near the disputed maritime border with North Korea, prompting the South's military to rush vessels to the site to rescue its sailors.
After weeks of wrangling, European leaders have agreed to a joint European and IMF financial safety net for debt-stricken Greece.
And China is to adopt progressive pricing for water and electricity nationwide in an effort to cut back on using natural resources.
Hot Issue Reports
New US Russia Nuclear Treaty
The United States and Russia have agreed on a new nuclear arms reduction treaty which would significantly reduce the nuclear arsenals of both nations.
After a phone call with his Russian counterpart Dmitry Medvedev on Friday, U.S. President Barack Obama announced in the White House the new U.S.-Russia nuclear disarmament treaty, the most comprehensive arms control agreement in nearly two decades, has finally been hammered out after a year of intense negotiations.
"In many ways, nuclear weapons represent both the darkest days of the Cold War, and the most troubling threats of our time. Today, we have taken another step forward in leaving behind the legacy of the 20th century while building a more secure future for our children."
In Russia, Russian President Dmitry Medvedev's spokeswoman said that the treaty reflects the "balance of interests" of both nations.
The agreement requires both sides to reduce their arsenals of long-range nuclear weapons by about a third, from 2,200 now to 1,550 each. And both sides would have seven years after the treaty's ratification to carry out the approximately 30 percent reduction in long-range nuclear weapons.
The agreement must still be ratified by the US Senate and the Russian Duma before it takes effect. Obama and Medvedev are expected to sign the pact in Prague on April 8.
UN Secretary-General Ban Ki-moon has welcomed the agreement, hailing it as an " important milestone" in global efforts to rid the world of nuclear weapons.
Lee chairs security meeting after navy ship sinks
A South Korean naval ship sank near the disputed maritime border with North Korea early Saturday, it prompts the South's military to rush vessels to the site to rescue its sailors and raises fears of an attack by the North.
The ship, on a routine patrolling mission with 104 crew members on board, begins sinking off the coast of South Korean-controlled Baengnyeong Island close to North Korea.
Rear Admiral Lee Ki-sik, Chief of Information Operations, Republic of Korea's Joint Chiefs of Staff says an unexplained hole in the bottom of the ship caused the vessel to take on water.
"Near the southwest of Baengnyeong Island, an unexplained explosion occurred near the stern of the military ship and the ship is now sinking. Currently 58 of the navy personnel have been rescued, among 104 in total. Patrol ships are at the site and a rescue operation is taking place."
Baeknyeong Island, four hours by boat from the port of Incheon, is the westernmost point of South Korea and is a key military post for South Korea because of its proximity to the North.
The South Korean military moves to strengthen its vigilance near the maritime border, the site of three previous naval clashes between the North and South.
Schoalrs: Sino-US relations Mature Enough in Resolving Differences
China's Vice Minister of Commerce is getting some vocal support during his ongoing trip to the United States.
Zhong Shan is in the US as part of efforts to smooth ties between the two countries.
In recent meetings with US government officials, congressmen, businessmen and media outlets, he argues that it's in nobody's interest to see a big rise in the yuan or a big drop in the dollar, which will upset the world economy.
While noting that Beijing will not bend to "outside pressure", Zhong Shan also says he feels confident that a long-term approach and open lines of communication can help solve the problems.
His sentiments are being echoed by Jim Sasser, the former US ambassador to China from 1995 to 1999. Addressing a seminar on Sino-US relations, Sasser argues that the relationship is mature enough to resolve differences:
"There is a bumpy period in Sino-US relations, that's nothing new because there is always a bumpy period in Sino-US relations, it smooth out on various occasions. Is the relationship mature enough to survive the accidents? Yeh, I think so, it survive the Belgrade problem, it survived the EP3 incidents, there is probably small accidents in the future. "
Kenneth Liberthal with the Brookings Institute in Washington, DC says the leaders of the two nations clearly know how important it is to get the relationship back on the right track.
"Both leadership know they really need the co-operation of the other, or at least not the determined opposition to the other in order to achieve their own core domestic and international goals. Each leadership is acutely aware of that, and I think both leadership want very much to get the relationship back on track and to see how to do that in a most effective fashion. So I think they are trying to find ways to put tensions behind, and to begin to develop new momentum. "
The U.S. Treasury Department will decide by April 15 whether to label China a currency manipulator as part of its forthcoming semiannual report to Congress on the currency practices of its major trading partners.
Europe agrees on bailout to Greece
After weeks of wrangling, European leaders have agreed to a joint European and IMF financial safety net for debt-stricken Greece.
They are hoping that the move will restore confidence in the European economy and its currency.
A bailout plan has been agreed to, but with strict conditions.
Under the accord, Greece will only get coordinated, bilateral loans from its European partners and the IMF when the country is unable to raise its own funds through its financial markets.
The deal also requires the unanimous agreement of the sixteen Euro-zone countries to release the funds.
President of the European Council, Herman Van Rompuy, says the program is not the answer to everything.
"First of all, we don't believe this is the miracle cure; but this is a part of the key solution. For a number of weeks now, a debate has been going on and we ended up agreeing on a mixed formula in which Euro-zone member contributions plays a dominant role."
Greek government officials say they believe the existence of a Euro-zone safety net will help them borrow at lower costs.
Light News
Earth Hour Gaining Popularity in China
At 8:30 evening local time Saturday, hundreds of millions of people around the world are expected to show their support for low-carbon lifestyles by turning off their lights for one hour. The initiative, Earth Hour, which started in Australia in 2007, is also gaining popularity here in China.
China to adopt progressive pricing for water and electricity nationwide
The term "progressive pricing" is now being used by China's macro-economic watchdog when talking about expected hikes in water and electricity rates for many people across the country this year.
First China Student Television Festival Kicks Off
The first China Student Television Festival kicks off Friday here in Beijing. Realizing the weakening influence of TV, the nationwide event aims to draw young people closer to the traditional media for a better future of both their personal development and the TV industry.
Chinese Audiences' Mixed Reactions on "Alice in Wonderland"
Chinese audiences have different opinions after watching Tim Burton's 3D film "Alice in Wonderland" which hit Chinese screens today.
Chen Bo was among the audience members for the film's China premier and says he liked the movie.
"The special effects are really good. I'm especially impressed by the fantasy and magical scenes as well as costumes of the movie."
The movie has raked in over 600 million US dollars in the box office since its release. The attendance rate reached sixty percent on its opening day in China.
"Alice in Wonderland" has been considered a continuation of the 3D movie craze created by Avatar. However, most audience members in China rate it both in terms of special effects and plot.
Li Xiaofeng is one of them.
"I think the movie is just so-so. There is a huge gap between this movie and Avatar as far as fusion of 3D technology and the actual story is concerned. I think some stories are not appropriate for 3D."
The film depicts a 19 year old Alice who stumbles into the rabbit hole for a second time, not remembering her first visit there ten years earlier. She reunites with her childhood friend the Mad Hatter who informs her of her true destiny: to overthrow the Red Queen.
Media Digest
From the Shanghai Daily: China's first baby-boom generation is starting to become a booming generation of senior citizens. The Shanghai Research Center on Aging says they'll quickly become the main group of seniors in Shanghai, creating new variations on senior-citizen lifestyles, affecting everything from daily care to travel. Seniors in the age group 60 to 69 are increasing much faster than seniors of other groups. Last year, the number of people aged 60 to 69 rose around 132,300 compared with 2008. In contrast, those 80 or older increased around 32,100. The 60-to-69 group constitutes nearly 49 percent of all the city's seniors above the age 60.
From the Montreal Gazette: Nearly a century after Albert Einstein proposed that the expansion of the universe was happening faster, an international team of astronomers has used data collected from the Hubble Space Telescope to confirm the genius's theory.
Scientists from North America and Europe have studied more than 446,000 galaxies and found that the universe is not only getting bigger, but its expansion is accelerating, a concept originally postulated in Einstein's theory of relativity.
Through this research, cosmologists now believe the universe is composed of three components: normal matter, which makes up all physical elements, such as humans and trees and the stars and the planets; dark matter, which is invisible to the eye, but the existence of which is known because of its gravitational pull; and the final component, dark energy, the force that causes the universe to expand.
Market Update
US Stocks gave up an early advance to close mixed for a second day after investors found little reason to extend the market's climb.
The Dow rose 9.2, or 0.1 percent, to 10,850. The Standard & Poor's 500 index rose 0.9, or 0.1 percent, to 1,167, while the Nasdaq composite index fell 2.3, or 0.1 percent, to 2,395.
For the week, the Dow is up 1 percent, the S&P 500 index rose 0.6 percent and the Nasdaq gained 0.9 percent.
In Europe, Britain's FTSE 100 fell 0.4 percent to 5703, Germany's DAX index dropped 0.2 percent to 6120, and France's CAC-40 fell 0.3 percent to 3989.
In Greece, markets rallied on Friday following a cash support programme agreed by other euro countries.
Weather
Before we go, a quick look at the weather,
Beijing is Sunny day with a high of 10, cloudy tonight and low of 1
Shanghai is Sunny and high of 15, falling to 7
Elsewhere around the world
Bangkok Sunny of 32
Tokyo Sunny 11
Vientiane Sunny 30
New York Sunny 4
Toronto Sunny at 3
Sydney cloudy at 27
Wellington cloudy at 21
Perth Sunny 28
Cairo Sunny at 23
Morovia Sunny at 33
And finally Nairobi will be Sunny at high of 24 degrees
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