Around the world in 60 seconds - 12 November 2010

• Riots in London over student fee rises
• G20 leaders gather for tense meeting in Seoul
• George W. Bush releases book on his presidency

Riots in London over student fee rises

On Wednesday, 50,000 students and lecturers protested in Westminster in central London over government cuts to university education.

However, the peaceful protest quickly turned violent when another group of students joined the rally outside the Millbank Tower building, the headquarters of Britain’s ruling Conservative Party.

They smashed doors and windows, and overpowered the small police force to get inside the building and onto the roof.

The police only regained control of the building at 5pm local time after reinforcements arrived. 32 people were arrested and 14 people were injured, including 7 police officers.

Various objects including a fire extinguisher were thrown from the roof onto the people below.

The students were protesting against the government’s plan to cut higher education spending by up to 40%.

As a result, tuition fees are expected to rise considerably from 2012, making it more difficult for middle class students to afford university (lower income families get help).

G20 leaders gather for tense meeting in Seoul

Yesterday, the two-day G20 meeting in Seoul, South Korea began amid fears of bickering, rather than cooperation, over the global economic recovery.

President Obama, fresh from his visit to India and his childhood home of Indonesia, sent a letter to all G20 leaders asking them to put aside their differences and work together.

However, many fear the talks could escalate into a row over currency manipulation.

The US accuses China of keeping its currency low to help its exports, while other world leaders are accusing the US of its recent announcement to pump US$600 billion into their economy to cheapen their currency and interest rates.

The result is that US investors will pour their money into growing economies like Brazil and India to get better interest rates. That flood of cash raises local currencies and increases the risk of inflation and dangerous asset bubbles.

The G20 is a group of the world’s 19 leading economies, plus the European Union. It is considered the best forum to achieve the crucial cooperation needed to avoid a trade war and global economic meltdown.

The meetings take place every six months in one of the member countries. However, from next year they will be held annually, decreasing the likelihood of ongoing cooperation.

George W. Bush releases book on his presidency

On Tuesday, carefully calculated to take place after last week’s midterm elections, former US President George W. Bush released his memoir on his eight-year presidency, called ‘Decision Points’.

The book outlines his account of crucial decisions made during his time in office, including the decision to invade Iraq, his highly-criticised response to Hurricane Katrina, and his handling of the financial crisis.

Overall he defended the major decisions he made, including his decision to use the torture technique of water-boarding, but admitted he would do some things differently.

However, the decisions he regretted making were mostly ones of public relations – like not putting up a premature sign saying ‘Mission Accomplished’ for Iraq – rather than any of substance.

He is believed to be getting US$7 million for the book – about half what Bill Clinton got for My Life – and is currently doing a nationwide book launch tour, including multiple television interviews.

Photo – Former US President George W. Bush at a book signing