-Caveat Lector-

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Tomorrow the World


Russia and China Unite Against New World Order


Gee. Another socialist fight over who's in charge. How exciting.

THE presidents of Russia and China declared yesterday that human rights
should never overrule national sovereignty, denouncing the rise of a new
world order based on Western values.
At the end of a two-day informal summit in Beijing, Boris Yeltsin and Jiang
Zemin issued a joint statement condemning the growing trend of using
"pretexts such as human rights and humanitarian intervention to destroy the
sovereignty of independent states".

China repeated its support for Russia's military campaign in Chechnya, which
world leaders including President Clinton have criticised for its brutality.
In return, Mr Yelstin offered his backing for Beijing's "principled stand" in
demanding that Taiwan must be reunited with China.

There were bear hugs and toasts for the cameras and talk of a "strategic
partnership" between China and Russia, once bitter Cold War foes. Harsh words
were aimed at powers said to be trying to split Kosovo from Yugoslavia. The
unnamed countries were condemned for seeking "excuses" to interfere in the
internal affairs of other nations.

America's plans for an anti-missile shield to cover US troops in Asia were
also attacked. On Thursday, Mr Yeltsin used a meeting with the most hardline
Chinese Communist leader, Li Peng, the Prime Minister, to lash out at Mr
Clinton for "seeking to dictate" to Russia on Chechnya, suggesting that he
had "forgotten" Russia's full arsenal of nuclear weapons.

Chinese state media have not so far reported Mr Yeltsin's warning. Beijing
remains committed to economic ties with Washington, but a friendly Russia
could do much to help China in its drive to become a superpower, not least by
selling Beijing advanced weapons.

The summit also gave Mr Yeltsin, who flew back to Moscow yesterday, a chance
to show off his renewed vigour after a bout of pneumonia put him in hospital
last week. He left for China in defiance of his family and doctors but was
soon pumping hands with Chinese leaders and managed a 100-yard walk with Mr
Jiang.

The London Telegraph, December 11, 1999


Year 2000


Rome Prepares to Throw Tourists to the Lions


Where is Nero with his fiddle when you need him?

ROME - With a million revelers and religious pilgrims expected to cram the
streets of this historic city to welcome the next millennium, Italian
authorities may need a little divine providence on New Year's Eve to avert a
return to conditions that some only half-jokingly say may approximate those
of the first millennium.

Of all the industrialized countries in Europe, Italy is by most accounts the
least prepared to confront the risks brought on by the Year 2000 computer
glitch.

The prospect of scattered electrical outages, telephone problems and other
disruptions has even normally complacent Italian officials concerned. Outside
experts worry that even small, intermittent problems with electricity and
other services could snowball and that millennial celebrants here may
suddenly find themselves in an environment where Rome's splendid architecture
seems its most modern feature.

''We are worried about possible Y2K-related disruptions in countries planning
major tourist events - for example, Italy,'' warned Lawrence Gershwin, the
CIA's national intelligence officer for science and technology, in October.

A recent survey by technology consultants in Britain ranked Italy's
preparedness on a par with Honduras and Peru and warned that technical
maladies brought on by the computer bug will stretch well beyond Jan. 1. On
that day alone, the city will be under enormous stress from huge crowds at
the Pope's blessing in St. Peter's Square and along the streets where 60,000
people are scheduled to run in a marathon.

Italian officials insist that the prospect of a catastrophic loss of
essential services is low. They note that millions of dollars have been spent
to reduce the risks, although mostly in the last few months, well behind the
schedule of other large, industrial countries.

''It's been said that Rome will get through to the new millennium only with
divine assistance,'' Mariella Gramaglia, deputy director-general of Rome,
said at a recent news conference. ''That's not the way it is!''

For many Italians, an interruption in some key services will not seem
extraordinary. Italians already live in one of Western Europe's most
glitch-prone countries: Postal delivery is notoriously haphazard, repair work
rarely seems to be finished on the first attempt and phones are frequently
overloaded, to mention just a few problems that Rome's 3 million citizens
encounter routinely. And Italians' legendary ingenuity and experience in
circumventing the obstacles created by government bureaucracy or error will
doubtless give them an advantage over others in Europe.
''We don't expect any problems, other than the ones one might normally
have,'' noted an executive at the national phone company.

Italy also will not be exposed to some of the dangers expected in East
European countries. It has no operating nuclear power plants, for example,
and its water systems can revert to manual operation if necessary.

But some authorities are warning that Y2K - the glitch caused by the failure
of many computer software designers to program electronic calendars to
recognize the year 2000 - will cause more than the usual travails here if
thousands of computers shut down or begin issuing spurious instructions.

Small banks, rural hospitals and information systems run by local governments
are especially at risk, according to a recent British government travel
advisory.

''A situation like this has never happened before, because everything may
have a malfunction'' of brief duration, said Augusto Leggio, technical
director of Italy's Y2K commission. ''Everything that is supported by an
information system'' could conceivably have a problem, he said, adding that
he is particularly pessimistic about private companies' preparedness.
''Italian people generally, by culture, don't plan.''

The government established the Y2K commission in January, well behind most
other industrialized countries. The commission's first order of business was
to draft a law mandating detailed reports on Y2K preparedness, with stiff pena
lties for noncompliance.

The law was not approved until midsummer. By October, less than a fifth of
the relevant companies or municipalities had presented detailed plans, and
even fewer had been reviewed.
''It's late,'' Mr. Leggio said, ''but unfortunately we cannot have the time
back.''

With many computer corrections out of reach at this late date, the government
has focused much of its energy on limiting the consequences of potential
breakdowns.

For example, an undisclosed number of soldiers will be placed on standby to
tamp down any ''agitation on the part of the people'' over malfunctioning
phones, electrical outages, airport delays, hospital errors or inaccessible
public records, Mr. Leggio said.

The government has also declared Dec. 31 and Jan. 3 official bank holidays,
essentially to allow sufficient time for repair efforts by the thousands of
public employees who will be working long hours that weekend.

''We will say to the citizens of the city, they can enjoy themselves,'' Ms.
Gramaglia said in a recent interview. ''And we will say, it's better if you
make sure you have some money. Buy some more food and walk up steps. I'd
recommend that people don't take elevators.''
International Herald Tribune, December 11, 1999


Digital Society


Sony to Enter Internet Banking


Download cash on your Walkman.

Sony, inventor of the Walkman and the PlayStation video games machine, plans
to diversify into internet banking nine months after setting up a joint
venture online brokerage firm.

The move conforms with Sony's strategy of raising its profile as an internet
company and exploiting the shake-up of Japan's financial sector. Other
non-finance companies have already made forays into the financial services
arena.

Ito-Yokado, one of Japan's biggest supermarket operators, and Softbank, the
internet and media company, are part of a consortium that has submitted a bid
to buy Nippon Credit Bank, which was nationalised last year.

Softbank's aim is to develop an internet conglomerate centred on financial
services and Ito-Yokado plans to offer banking services through its outlets,
which include Seven-Eleven Japan.

In following suit, Sony is expanding its digital media platform. "Will Sony
become a supplier of personal finance? You can bet 100 per cent we will,"
said Nobuyuki Idei, its president, in a recent Financial Times interview.

The group, which already has insurance and finance subsidiaries, intends to
establish an online banking service by summer 2001, offering individuals
loans, savings and bill-paying services.

It is considering capitalising the internet bank at �20bn (�120m) with the
aim of collecting �1,000bn in deposits within the first five years.

"Sony is trying to reinforce its financial business and strengthen its brand
image to be able to compete better in the digital market," said Masashi
Kubota, consumer electronics analyst at ING Baring Securities.

"It also wants to reinforce its networking operations. It has a strong
hardware and contents business and the only area it is weak in is networking.
Right now, strengthening the networking business is its main theme."

The Financial Times, December 11, 1999
-----
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Em Hotep, Peace Be,
Omnia Bona Bonis,
All My Relations.
Adieu, Adios, Aloha.
Amen.
Roads End

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