China, holder of more American debt than any other nation, called for a new global currency to replace the US dollar. The governor of the central bank in Beijing said the current recession exposes the danger of relying on a currency not controlled by the International Monetary Fund. Reform of the world's financial system is expected to top the agenda of the Group of 20 summit next week.
Rewards of up to $2 million each – the largest in Mexican history – were offered Monday by the government for information leading to the arrests of 24 cartel chiefs in one of President Felipe Calderón's boldest moves against drug-related crime. Smaller rewards also were offered for 13 of their lieutenants. The announcement appeared to mark a departure from the practice of Calderón's predecessors to take on one cartel at a time rather than all at once. More than 9,000 people have died in drug-related violence there since Calderón assumed office in December 2006.