The first new government in six years is taking power in Australia as long time opposition leader Tony Abbott takes the reins of the prime ministership from Kevin Rudd.Mr.Abbott said the strong US relationship has been key in Australia's foreign policy,and would remain that way.Domestically,he wants to be an infrastructure prime minister,with a bulldozer on every street and cranes in the sky.*
Alex Malley,CEO of CPA Australia,said we're reasonably comfortable with the incoming government.We lost an opportunity to balance our economy more and restructuring when mining was at its peak.We've been in Asia for 60 years,but Australia is only in its infancy in understanding the Asian Century.We need government to work with small and medium business.We need to stay relevant at a cost,efficiency and cultural level.*
The awarding of the 2020 Summer Olympics to Tokyo is expected to add a trillion dollars to the Japanese economy over seven years.*
China's August exports were up 7.2%,beating the 5.5% estimate.*
Following Sebastian Vettel's victory at the Italian Grand Prix Sunday,Formula One racing moves back to Asia for the Singapore Grand Prix,a nighttime race,in two weeks' time.*
President Barack Obama faces a hectic week of lobbying for military action against Syria as Congress returns today from its August recess.Military action is not immanent,since France now says it will not participate until the UN weapons inspectors present their report,and Congress is still largely undecided about the president's plan.*
Both the full House and Senate will receive classified briefings from the president's national security team early this week,and the president will address the nation Tuesday at 9pm Eastern.After that,complex legislative maneuvering will determine just when the votes on the president's plan will take place.In sum,it is uncertain at this point when,or even if,there will be military action,or who,apart from France,will participate in it,and in what way,although the White House remains fully committed to this course.