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A new political crisis is ripening in Serbia’s Kosovo. The resignation of Kosovo’s President Fatmir Sejdiu was followed by the resignation of the government of Hashim Thaçi, which means that early parliamentary elections will be held. It also means the postponement of talks between Belgrade and Pristina and possibly a new allocation of forces in the Albanian camp.

Debates between the US and China over the valuation of the yuan are currently gathering momentum. A new campaign of pressure on Beijing is initiated by the US Congress which proposed a bill authorizing the government to slap duties on China's imports based on the view that the yuan is grossly undervalued. The lower chamber approved the legislation.

The 61th anniversary of the Chinese Republic is celebrated in Beijing rather modestly. The country is preoccupied with its current tasks as it faces reemerging inflation, unemployment, excessively fast urbanization, and unrestrained energy consumption. Nevertheless, it is clear that China manages to sustain its exceptional growth and that its march to modernity continues regardless of the pains suffered by its economic partners from the ranks of industrialized countries.