The second quarter of 2004 will be dominated by four themes. The first will be the strike and counterstrike activity between al Qaeda and the United States. The second will be the intensifying political struggle in the United States as the administration of U.S. President George W. Bush fights for its life. The third will be the re-intensification of the Israeli-Palestinian conflict, and the fourth will be growing global awareness of the increasing weakness of China’s economy — coupled with readjustments in Beijing’s political plans.
