Share This

Friday 21 October 2011

China on path to become world's No. 2 wealthiest country

Differences in national income equality around...


BEIJING, Oct. 20 (Xinhuanet) -- China is expected to replace Japan as the world's second-wealthiest country after the United States with total fortune shooting to nearly US$40 trillion by 2016, Credit Suisse AG said in a report yesterday.

However, the accumulation of fortune will be achieved along with an expanding wealth gap in China where the Gini coefficient, a commonly used measure of inequality of wealth, has already passed an extremely dangerous level.

China, which has surpassed Japan as the world's second-biggest economy, will soon also catch up with the neighbor in terms of total wealth.

Overall wealth at the hands of Chinese mainland people is projected to reach US$39 trillion in the next five years, the firm said in its annual Global Wealth Report.

China now has a total wealth of US$20 trillion, third in the world behind only the US and Japan but ahead of France, according to the report, which analyzes the wealth distribution in more than 200 countries.

Total fortune in China increased by US$4 trillion from January 2010 to June this year and is the second-highest contributor of global wealth growth after the US, the report said.

Wealth per adult in China has more than tripled from US$6,000 in 2000 to US$21,000 this year, according to the report.

The report downplayed overall wealth inequality in China, saying it remains moderate with 37 percent of the adult population lying in the middle segment of the wealth pyramid with a fortune of US$10,000 to US$100,000 per adult, while 5.8 percent of the adult population falls below US$1,000 and 2.3 percent above US$100,000 each.

China had a population of nearly 1.34 billion by late last year, according to the country's latest census, with about 70 percent of the population aged between 15 and 59.



With the increasing wealth of successful entrepreneurs, professionals and investors, inequality has been rising strongly, the report cautioned. So far this year, China has gained more than a million millionaires for the first time and now has more than 5,000 ultra-high net worth individuals with average fortunes above US$50 million, behind only the US, the report said.

The Gini coefficient in China reached 0.5 last year after hitting the recognized warning level of 0.4 more than 10 years ago, according to a report by Xinhua news agency in May last year. Developed European nations and Canada tend to have Gini indices between 0.24 and 0.36.

A low Gini coefficient indicates a more equal distribution, with 0 corresponding to complete equality, while higher Gini coefficients indicate more unequal distribution, with 1 corresponding to complete inequality.

China is nowhere to be found in the list of top 10 countries with the highest average wealth per adult. Using that scale, Switzerland, Australia and Norway are the three richest nations in the world, with Switzerland recording average wealth per adult at US$540,010 - the only country to exceed half a million dollars.

China currently possesses total wealth of US$20 trillion, ranked third in the world behind the US and Japan and ahead of France.

The reported also mentioned that the Asia-Pacific region has emerged as the key contributor to the growth of global wealth, accounting for 36% of global wealth generation since 2000 and 54% since 2010.

Total household wealth in the region increased 23% from January 2010 to June 2011, contrasting with the 9.2% and 4.8% growth in North America and Europe over the same period respectively.

Thursday 20 October 2011

Online news sites are not all about journalism - think of the money

Image representing Knight Foundation as depict...
As we all know, the problem of running not-for-profit news outlets is that they have to be funded. If journalists want to eat, then their journalism - no matter how good it might be - is not enough.

Two writers with the US-based Knight Foundation, Mayur Patel and Michele McLellan, argue that non-profit sites "have to act like digital businesses". In other words, they must introduce a measure of entrepreneurship in order to survive.

They have carried out a study, Getting Local, into some of America's leading online local non-profit news ventures to see how they obtain their funding.

Conceding that none has yet to develop "a clear business model", they believe that "some of the key ingredients needed for success are becoming increasingly apparent."



Here's a three-point rundown of those so-called key ingredients:
1. A business development strategy and the capacity to execute it
A news organisation may start with foundation (philanthropic/charitable) support. But, from the outset, it must experiment to discover other sources of revenue.
Foundation funding should be treated as equity rather than as an ongoing revenue stream. Philanthropic support is likely to diminish over time and needs be supplemented with new sources, such as memberships, advertising, sponsorships or events.
Example: MinnPost, a news outlet serving Minnesota, which was launched in 2007 with foundation and donor support.
By last year, it drew more than a third of its $1.28m (£820,000) revenue from non-charitable sources, including corporate sponsorships, advertising and its MinnRoast annual fundraising event.
2. A high level of audience focus and innovative approaches to build community engagement
A team of journalists creating a web newspaper is not a sustainable proposition. In addition to business expertise, such outlets need to understand who they want to reach.
They also need to experiment with ways to engage those communities in order to have an impact on civic life.
Example: The Voice San Diego regularly analyses data on the more than 6,500 subscribers to its morning report – a daily email with article excerpts and links to full content - to gain a deeper understanding of its audience.
Earlier this year, the site launched a major community event - Politifest 2011, which included a mayoral debate and an "idea tournament", much like American Idol, to discover the best ideas among residents for making their region better.
3. Technological capacity to support and track engagement
A higher expectation of interactivity and a goal of strong engagement require technological capacity that sits outside the experience of many journalists.
Example: The Texas Tribune, has devoted significant resources to technology – developing innovative interactive features and highly searchable public databases, which have become a significant draw to the site and helped drive deeper audience engagement.
The average time people spent on the site in early 2011 was nearly four minutes.
Patel and McLellan conclude: "There are many unknowns in the emerging field of non-profit news organisations. But it is clear that successful ventures will aspire well beyond producing high-quality journalistic content.

"Entrepreneurial revenue development, audience focus and a mission of engagement, and technology to support that mission, are essential components of a sustainable not-for-profit news venture."

Source: Knight Foundation blog 

The Guardian home Newscribe : get free news in real time

Malaysian Gutter politics the norm now !



Chua: Gutter politics the norm now
The Star/Asia News Network

KUALA LUMPUR: Politicians from both sides of the divide have been guilty of practising gutter politics since the 2008 general election, said MCA president Datuk Seri Dr Chua Soi Lek.

“Nobody can claim the moral high ground. They (Pakatan Rakyat) only stand on moral high ground when they are affected,” he told reporters after attending the 3rd World Chinese Economic Forum signing ceremony here yesterday.

He said since the 2008 general election, there had been a lot of arguments not on policies but personal attacks, adding that many issues were politicised.

He denied that “gutter politics” were tactics only used by Umno and MCA politicians, adding: “This is something that politicians from both sides do.”

Dr Chua was commenting on Pakatan's statement that leaders from Barisan Nasional were practising “gutter politics” when they made allegations against Penang Chief Minister Lim Guan Eng's son.

Pakatan leaders had expressed outrage and condemned the allegations circulating on the Internet that the boy was transferred out of his school following an offence, which Lim called “barbaric lies”.

On another matter, Dr Chua said as a party leader, he could make his own decision on whether to contest in the general election and where to stand as a candidate.

“I can make my decision and I do not need DAP to teach me or challenge me.

“When the time is right, I will make a decision,” he said when asked to comment on DAP challenging him to contest in a DAP stronghold.

 HM surprised by allegations involving Guan Eng’s son


GEORGE TOWN: A school principal has expressed surprise over online allegations involving Penang Chief Minister Lim Guan Eng's 16-year-old son and a girl in the same school.

SMJK Heng Ee principal Goh Boon Poh (pic) said he needed to make a clarification over the issue to preserve his school's reputation after the allegations, which included photographs, went viral on the Internet.

Goh said Lim's son had transferred out of the school on Jan 3.

“It was the boy's choice. There was no pressure nor were there disciplinary issues here. He was a prefect who performed well in his PMR examinations at our school. He just wanted to be in another school,” he said.

The boy had enrolled in the school in 2009 when he was in Form One, Goh said.

The principal also noted there had been no allegation involving the boy at the school.

“I am surprised by the allegations made. I am not taking sides but I need to protect my school and the students,” he said.

Goh also stressed that the photographs of two people appearing on blog sites were not students of the school.

Lim had refuted the allegations, issuing a strongly-worded statement on the issue, describing it as a form of “gutter politics”.



‘Mystery girl’ is chess grandmaster behind the allegations

KUALA LUMPUR: The “mystery girl” behind allegations involving the son of Penang Chief Minister Lim Guan Eng has been identified as a renowned 21-year-old chess grandmaster from Britain, said Tony Pua.

Her name in Anya Croke, who is of Scottish-Chinese parentage.

The DAP national publicity secretary said this proved that the allegations by certain bloggers were “blatant lies”.

“If such gutter politics continue, it will only tarnish the country’s image,” he told reporters at the Parliament lobby here yesterday.

The young woman’s identity was disco­­vered by DAP IT manager Goh Kheng Teong, Pua said, adding that Croke was not only a foreigner but a renowned chess grandmaster who won championship titles between 2004 and 2008.

She was born in the United States and raised in Hong Kong. She is currently pursuing her studies in Wellesley College, a top liberal arts college in the US.

“They (bloggers) are willing to destroy the life of an innocent 16-year-old boy, bring the country into disrepute and defame a top achiever for political ends,” Pua said.

The allegations against Lim’s son appeared in the blogs of Papagomo and mediapermatangpauh, depicting a photograph of the boy next to a cropped photo of an unidentified girl.

It was also alleged that the matter was settled with RM200,000.

Lim had refuted all allegations made against his son, adding that he and his wife were now helping the boy to “heal” following the episode.

Pua also called on Umno Youth chief Khairy Jamaluddin to apologise to Lim for his recent tweet over the issue.

“As a role model for the nation’s youth, he (Khairy) must set an example and take responsibility by apologising for his tweet which is perpetuating the vicious lie,” he said.

DAP Parliamentary leader Lim Kit Siang, who was present at the press conference, expressed concern at the level of gutter politics, describing the bloggers’ lies as diabolical and heinous.

Wednesday 19 October 2011

Malaysia world's No.1 highest civil servants-to-population ratio! Its tenure of service legally vulnerable but notoriously difficult to dismiss!

brief diagram comparing the role of civil serv...

Safeguards for public servants

REFLECTING ON THE LAW By SHAD SALEEM FARUQI

The legal position of public servants regarding security of tenure of service is quite vulnerable, but in reality, action against delinquent public servants is notoriously difficult to sustain.

MODERN society is held together by services provided by officials of the state. The public service is the pivot around which the administration of the contemporary state revolves. Every country’s economic, social and educational policies are ultimately dependent on the quality and commitment of its public officials.

Article 132(1) of the Federal Constitution defines “public services” to include the armed forces, the judicial and legal service, the general public service of the Federation, the police force, the joint federal-state public service, the public service of each state and the education service.

Employees of statutory bodies, public companies, universities, or any other body or authority established under federal or state law, are not public servants for the purpose of the Constitution.

In relation to public services, a number of basic rules apply.

No security of tenure: All public servants hold office “during the pleasure” of the Yang di-Pertuan Agong or Ruler or Governor. Posts may be abolished. A ministry or service may be closed down or privatised. Parliament may refuse to allocate funds for a service.

Terms of service: The terms of service of a public servant may be altered without his consent despite a written contract of employment. Post-entry requirements like language proficiency, in-house training courses or the need to pass an examination may be imposed.

Pensions: Article 147 protects pensions, gratuities and other allowances for members of the public service, their widows, children, dependants or personal representatives.

However, these are not absolute rights. The Yang di-Pertuan Agong may reduce or withhold pension if he is satisfied that the public servant is guilty of negligence, irregularity or misconduct.

Right to equality: Under Article 8(1) of the Federal Constitution there is a constitutional right to equality before the law and equal protection of the law. Thus, no gender, religious or unreasonable discrimination can be practised at the time of the application or during the period of service.

Regrettably, Article 8’s equality requirement does not apply in the private sector or to Government-linked companies.

Racial quotas: In Malaysia, the issue of race discrimination is complicated. A little known constitutional article – Article 136 – states that all persons of whatever race in the same grade in the service of the Federation shall be treated impartially.

Difficult issues arise because Article 136 has to be read along with Article 153 which permits reservations and quotas in favour of Malays and the natives of Sabah and Sarawak.

Tun Suffian has suggested that the two articles must be read harmoniously. At entry point, Article 153 permits reservations. Once in service the equality rule in Article 136 should apply to matters of promotion, rewards etc.

Arrears: A civil servant can sue the Government for recovery of arrears or for any other breach of the law of contract.

Tortious claims: In Malaysia, the Government is not above the law. Subject to some exceptions, a civil servant can sue the Government for damages in torts if the Government or a public authority has caused him loss.

Safeguard of Article 135(1): Though civil servants have no security of tenure, they can be removed only after prescribed procedures. Article 135(1) states that no member of the public services (except a member of the armed force) may be dismissed or reduced in rank by an authority subordinate to that which had the power to appoint him.

Natural justice: Under Article 135(2) no public servant may be dismissed or reduced in rank without being given a “reasonable opportunity of being heard”.

The terms “reasonable opportunity of being heard” have generated a wealth of case law. “Hearing” means that the officer concerned should be given a proper and prior notice of the allegations against him. The notice must be adequate in terms and in time.

Subject to some exceptions, the accused should have a full and fair opportunity of stating his case in reply.

He should be supplied with all evidence, information and documents made known to the adjudicator. He should have a right to present witnesses and exculpatory evidence and to cross-examine witnesses on the other side.

Exceptions: The safeguards of Article 135(2) do not apply in some situations such as:

> The laudatory and constitutionalised rule of natural justice does not apply to forms of removal that do not amount to “dismissal” or “reduction in rank”.

For example, “dismissal” is distinguishable from “contractual termination”, “termination in public interest” or “compulsory retirement”.

A reversion to the former post does not amount to reduction in rank provided the public servant was not already confirmed in his new post.

> “The right to be heard” does not imply the right to be heard orally. Hearing can be oral or by way of written representation.

> Members of the armed forces are not entitled to a hearing.

> There is no need to give a hearinIn reality there are many other ways of dealing with errant civil servants. Some of these ways do not attract the pristine safeguards of Article 135. For example:

> Even prior to a finding of guilt, an officer can be interdicted (ordered not to report for work) on full pay or half pay.

> In several circumstances, an officer can be suspended on no pay.

> Termination under the contract of employment need not be preceded by prior hearing.

> In some circumstances public servants can be prematurely and compulsorily retired. They recieve pension but lose their job.

The overall picture is that the legal position of public servants is quite vulnerable. In reality, however, action against delinquent public servants is notoriously difficult to sustain.

Many wrongdoers rely on technical or procedural flaws to obtain judicial review and escape accountability.
Enforcing quality and commitment in public services is not easy and require leadership of the highest order.

> Shad Saleem Faruqi is Emeritus Professor of Law at UiTM and Visiting Professor at USM

Every 3 taxpayers supports 2 civil servants in Malaysia
 
“The highest ratio of civil servants in the world”!
Most bloated civil service
 
* With 1.3 million civil servants to a population of 26 million, Malaysia has one of the highest civil servants-to-population ratio in the world by the Organisation for Economic Cooperation and Development standards.
* In 2009, Malaysia’s civil servants-to-population ratio was the highest in Asia Pacific. The ratio was 4.68 per cent, compared to Singapore’s 1.5 per cent, Indonesia’s 1.79 per cent, Korea’s 1.85 per cent and Thailand’s 2.06 per cent all of which have less than half our ratio.

Subject: Civil Servants in Malaysia...Alarming Figures

1. Number of civil servants in Malaysia
  2000   -  894,788
  2008  -  1.2M
  2011  -  1.3M+
 During 2000 to 2008, increase of 300,000 or each year 38,151 or each day 104.

2 . Money spent on salary / remuneration
  2005  -  RM25.6Billion
  2008  -  RM41.0Billion (or from each tax payer RM22,800) 
 An increase of a whopping 60% during 3 years only. If it is private company, sure "bungkus"!
 
3. Population that pays tax  1.8M
    Number of civil servants   1.2M
Meaning every 1.5 tax payer support 1 civil servant.

 
4.  Population Vs number of civil servant.  (I believe should be one of the highest in the world) 


COUNTRY
%
Malaysia
4.68
Thailand
2.06
Korea
1.86
Philippine
1.81
Indonesia
1.79
Laos
1.24
Cambodia
1.18

The best civil servants in the world-MALAYSIA BOLEH
Best bloated civil service

 
  * With 1.3 million civil servants to a population of 26 million, Malaysia has one of the highest civil servants-to-population ratio in the world by the Organisation for Economic Cooperation and Development standards.

    * In 2009, Malaysia’s civil servants-to-population ratio was the highest in Asia Pacific. The ratio was 4.68 per cent, compared to Singapore’s 1.5 per cent, Indonesia’s 1.79 per cent, Korea’s 1.85 per cent and Thailand’s 2.06 per cent all of which have less than half our ratio.


Best way to bleed a budget dry


   
* Much of the budget (2011) continues to go into operating a bloated civil service. As much as three quarters of the national budget is spent on paying salaries and other benefits to over 1.3 million civil servants.

    * A post-2011 Budget dialogue highlighted the massive amount (35 per cent of the total RM162.8 billion operating expenditure) to be spent on emoluments, pensions and gratuities of civil servants. A panelist, Ministry of Finance budget division director Datuk Dr Rahmat Bivi Yusuff admitted that there is a need to trim the civil service to reduce the budget deficit.


Best way to bankrupt this nation


   
* Whilst it is the growing trend of many countries to reduce their civil service, the PM’s Department in particular, has done the opposite. It more than doubled its number of civil servants from 21,000 to 43,554 this year. In stark contrast, the White House employs only 1,888 staff.

    * The White House budget is US$394 million for 2011. The PM’s Department has been allocated a whopping RM18.14 billion for the year 2011, almost double the RM10.2 billion 2010.

    * Pemandu, which stands for Performance, Management and Delivery Unit, was set up last year under the Najib administration as one of the pillars in his Government Transformation Plan… is a massive drain on resources. In a span of two months the government spent RM20 million just to pay 50 consultants,.


Best contradiction of 1Malaysia


   
* As at 31 December 2009, the racial breakdown of the Malaysian civil service comprising 1,247,894 employees was as follows: Malay (78.2 per cent); Other Bumiputras (7.7 per cent); Chinese (5.8 per cent), Indian (4.0 per cent); and Others (4.2 per cent).

    * “This is the worst multi-racial composition of the government service, with the lowest Chinese and Indian representation in the public service in Malaysia’s 53-year history. This is clearly seen from the three sets of comparative figures of the racial breakdown of the civil service before the NEP (1971) and as compared to Dec. 2009 – Malays (60.80 per cent and 78.2 per cent); Chinese (20.2% and 5.8 per cent); Indians (17.4 per cent and 4.0 per cent); and Others (1.6 per cent and 4.2 per cent).


Best in corruption


   
* Last year two out of five civil servants were deemed corrupt by Cuepacs. It was described as a worrying trend that needed to be tackled urgently.

    * Cuepacs President Omar Osman revealed that a total of 418,200 or 41 per cent of the 1.2 million civil servants in the country were suspected to be involved in corruption last year (Bernama, 2 June 2010).


Best “dumping ground”

Mohd Ariff Sabri Abdul Aziz, a former state assembly member of Pahang who is a member of Umno and who uses the pen-name Sakmongkol AK47, in his blog entry wrote: “Government service shouldn’t be treated as a dumping ground for academic rejects and mediocre material. Let’s demand a certain high standard and ensure we bring in talent that supports the demand for high standards.

“What has the government done to improve the efficiency and competence of government servants? There isn’t really competition there if the service is dominated by one race. There isn’t sufficient quality if the entry-level qualifications are so-so.

“Yet each year, to placate civil servants, the PM will appear on TV to say, we honour our civil servants because they have done a good job, blah blah. Which is not entirely true. The service is slow, the quality of officers is questionable.”

But Umno likes Muhyiddin’s make-believe. The next General Elections must be close at hand. Civil servants are made to believe that Umno is their (political) paymaster and they owe it to Umno. The party’s leaders would do or say anything to convince the government servant of this, even praising them as “the best civil servants in the world”!

 Related articles

Tuesday 18 October 2011

Occupy Wall Street booming, now Occupy London Stock Exchange!



Occupy Wall Street booming after one month
 AFP 
 
The month-old Occupy Wall Street movement is enjoying new momentum, with nearly $US300,000 ($A296,369) in the bank and the satisfaction of drawing global attention to what it sees as major economic inequalities.

UN Secretary-General Ban Ki-moon expressed sympathy with the protesters, and even protest-averse China said some issues raised are worth considering.
 
From a few dozen people camping out in a small Manhattan park near the rising World Trade Centre complex, the movement swelled to hundreds of thousands of people rallying around the world this weekend and numerous encampments springing up in cities large and small.



Hundreds of protesters on Monday mingled with bemused bank workers in a new tent camp outside London's St Paul's Cathedral. But in Seattle, police arrested people who wouldn't move their tents from a park.

The UN leader said the finance chiefs from the Group of 20 rich and developing nations, now meeting in Paris, should listen to the demonstrators. "Business as usual, or just looking at their own internal economic issues, will not give any answers to a very serious international economic crisis," Ban said.

"That is what you are seeing all around the world, starting from Wall Street, people are showing their frustrations, are trying to send a very clear and unambiguous message around the world."

The Wall Street protesters still haven't settled on a specific demand but are intent on building on momentum gained from Saturday's worldwide demonstrations, which drew hundreds of thousands of people, mostly in the US and Europe.

President Barack Obama referred to the protests during Sunday's dedication of a monument for Martin Luther King Jr, saying the civil rights leader "would want us to challenge the excesses of Wall Street without demonising those who work there".

The largest of Saturday's protests were in Europe, linking up with long-running demonstrations against government austerity measures. In Rome, hundreds of rioters infiltrated a march by tens of thousands of demonstrators, causing what the mayor estimated was at least 1 million euros ($A1.36 million) in damage. Hundreds of thousands turned out in peaceful protests across the continent, including in Spain, Germany, Switzerland, Britain, Austria and France.

Around the US, more than 350 people were arrested in a half-dozen cities during protests. On Monday, prosecutors dropped charges against civil rights activist Cornel West and 18 others who were arrested while protesting on the steps of the US Supreme Court in Washington.

Interest in the demonstrations over economic inequality even reached China, where online calls for similar protests did not appear to elicit any responses.

"We feel that there are issues here that are worth pondering," said Liu Weimin, a foreign ministry spokesman during a regular briefing in Beijing on Monday.

In New York, $US300,000 in cash has been donated through the movement's website and by visitors to the park, said Bill Dobbs, a press liaison for Occupy Wall Street.

Donated goods range from blankets and sleeping bags to cans of food and medical and hygienic supplies. Among the items are 20 pairs of swimming goggles, to shield protesters from pepper-spray attacks.

Supporters are shipping about 300 boxes a day, many with notes and letters, said Justin Strekal, a college student and political organiser who travelled from Cleveland to New York to help.

"Some are heartwrenching, beautiful," and come from people who have lost jobs and houses, he said. "So they send what they can, even if it's small."
© 2011 AFP

Occupy London Stock Exchange continues

Updated: 2011-10-17 16:17.By Liu Wei (chinadaily.com.cn)
Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]

Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]

Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]
Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]
Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]

Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]
Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]

Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]
Occupy London Stock Exchange continues
Occupy London Stock Exchange, a demonstration inspired by the Occupy Wall Street movement to protest against the wealth inequality and financial crisis, continues as more people join in and set up their tents within the vicinity of the St Paul's Cathedral. Picture taken on Oct 16, 2011 [Liu Wei/chinadaily.com.cn]