Poligh AYDINLATMA

“While the factors driving the prices stay up, will remain significant pressures on inflation,” China said in a report submitted to the World Trade Organization.

The document, which is part of a regular review of trade policy of China to the WTO, was released today but dated May 7 five days before the Beijing issued that inflation accelerated to 8.5% in April near its highest level in 12 years.

The Chinese premier, Wen Jiabao, said that inflation is still the most complex economic problem for his country, even when the earthquake that devastated the city of Sichuan last week has created new economic uncertainties.

The report to the WTO reaffirms Beijing to balance its economy a boost to consumer demand, rather than simply rest on investment and exports as engines of growth.

China noted that its currency, the yuan, had appreciated 13.3% against the dollar between July 2005 and late 2007. The pace of the currency rises accelerated this year, he said.

However, the document gave no signal on the future exchange rate policy. Critics of China in the United States and Europe say Beijing keeps artificially low value of the yuan to give an advantage to its exports in international markets.

The WTO has said that China would benefit by having a more flexible exchange rate, as this would allow you to fight inflation more effectively.

“A more flexible exchange rate could enable China to operate a more independent monetary policy, which would be adequate to ensure low inflation and stable”

NEW YORK – The Association of Former Pan Am Employees, Inc. (“AFPAE”) announces that, in the class action entitled Pineiro v. PBGC, 96 Civ. 7392 (LAP)(S.D.N.Y.), Judge Preska (U.S.D.J.) issued on March 13, 2000 her third opinion on PBGC’s motion to dismiss the complaint in this action.

Judge Preska rejected PBGC’s attempt to dismiss this action and greatly expanded PBGC’s fiduciary responsibilities to the former Pan Am employees. Former Pan Am employees should now have their day in court with their claims that PBGC breached its fiduciary duties and committed other wrongful actions in its role as trustee of the Pan Am retirement plan.

At least 14,000 workers have yet to be informed of the benefits due them nearly nine years after the airline folded. David Cay Johnston, NY Times, “The ruling, which eventually may lead to an increase in pension payments for some of the 65,000 people who worked for Pan Am when it went out of business in 1991, affects the way the Pension Benefit Guaranty Corporation administers pension plans. The Association says the Guaranty Corp issued thousands of workers deter minations of the benefits due them that were improper, failing to abide by the terms of the agreement negotiated between Pan Am and its unions.”

This decision is unprecedented in expanding the rights and claims of former Pan Am employees against the PBGC and is a substantial victory not only for former Pan Am employees but also for all similarly situated individuals. As a result of the decision, the PBGC will finally be forced to respect the rights of former employees under terminated retirement plans in the same manner as any other plan fiduciary.

1st, out of 2,000 employees, Enron foisted a new pension conversion upon 400 members of its collective bargaining unit, to implement a notorious nationwide pension conversion scam, better known as the CASH BALANCE PLANS.

The introduction of this “great plan,” left Wyn with $250,000 in reduced lifetime pension benefits that he could no longer look forward to collecting in his retirement years.

Most recently, Enron officers froze employees’ 401′k funds while they cashed in, leaving them and their families, with significantly depleted savings plans, severely diminishing the families present and future quality of life.

Now, the PGE, and its 2,000 employees are on the auction block.

(In Wyn’s words)

“For nearly two years, the EEOC has been investigating the pension conversion age-discrimination complaints that I and fellow employees filed, as well as about a thousand others from around the country relating to cash balance pension conversions. Now that the Enron collapse has broken another leg off my retirement stool, it’s even more important to start enforcing the laws.

I would very much appreciate your contacting the EEOC and asking them why they have not taken action to remedy this matter. In 1999, I and many other employees at Portland General Electric (PGE), a subsidiary of Enron , had their traditional pension plan converted to a cash balance hybrid. We were fed copious amounts of misinformation making the switch appear benign rather than a pension cut, which is typical for these conversions throughout the nation. (See www.PGEpension.com for details. )

As if the cash balance pension conversion wasn’t enough, Enron became the poster child for corruption and bankruptcy. As an Enron employee, my 401k is severely depleted despite my investments being as diversified as Enron would allow. The matching Enron stock, that was payment for work performed, couldn’t be moved anywhere unless you were Enron upper management (or over age fifty, and then with restrictions).

If our country does not enforce the existing laws with respect to their intent, there is no point writing new ones. Simply passing a bill or creating an inefficient bureaucracy often does little or nothing to remedy the problem , and can worsen it. This was the case with Enron and its exemption from commodity and futures regulation. Enron and PGE are not the only ethically challenged corporations. We have a national crisis in the making. The EEOC, DOL, and the IRS should be doing more than just investigating cash balance pension conversions and the Department of Justice or Attorney General should be filing charges against those at the top of Enron’s and Arthur Andersen’s racketeering while freezing their assets. As Voltaire put it, ” …it is well from time to time to kill an admiral to encourage the others.” Send a strong deterrent message that expensive lawyers, weasel words, and friends in high places aren’t going to exempt corporations and individuals from our Country’s laws, or garner special treatment.

Dubai is the commercial capital of an empire that is just waking up to over 1.200 million, 30% of the capital stock of the world, 30% of global energy reserves and a trillion dollars invested abroad.

“The Middle East is a region in Chile still lacks an economic and commercial presence. Country in terms of image, everything is done. In the UAE we barely know but are eager to know more about us, try our products and known investment opportunities. Our proposal is to use Chile as a platform of services and investments throughout Latin America, “he said.

Over the past five years, food imports to Dubai (a place of consumption and export) increased by 400%. “Chile, Food and Power, must be present with all products that are feasible to export to this area and build the initial phase of this growth,” said Frohmann.

“We are a secure and reliable supplier of raw materials such as copper and forest products, as well as food and drinks of high quality. Even some of our professional service providers are already working in this area. Chile can provide the climate business more stable and peaceful Latin America, a platform in the Pacific and global logistics services around the world, with preferential access to the largest economies, “said Alicia Frohmann andalusia along Commercial Attaché in the area, JeanPaul Tarud.

As for canned and processed foods, especially fruits and vegetables, focusing on the largest volume of export to all countries in the region, an increase of 600% in five years, according to Customs. There is a high potential to Chile, especially in higher quality canned and added value.
ProChile She will also visit Israel and Palestine in order to explore the opportunities presented by these countries for domestic shipments: “Israel is an economy in which we not only increase trade flows in goods and services but also develop partnerships technology, ‘joint ventures’ and cooperation. It is an example of an economy that originally exported agricultural products and then, incorporating value-added and knowledge, became a very competitive internationally, despite its complex political situation. “