Special Report: Yearender 2008

    BEIJING, Dec. 31 (Xinhua) -- The following were the top 10 events around the world in 2008 as selected by Xinhua (in chronological order).

    1. Sharp fluctuation in oil prices had the world in jitters

A petrol station in front of the OPEC headquarters is pictured in Vienna October 24, 2008. An emergency OPEC meeting on Friday reached swift agreement to chop production by 1.5 million barrels oil per day (bpd) as a first step toward halting a deep oil price slide.(Xinhua/Reuters File Photo) Photo Gallery>>>

    On Jan. 2, the price of crude oil futures in New York touched 100 U.S. dollars per barrel for the first time. Oil prices continued to increase to reach a new high of 147.27 dollars per barrel on July 11.

    However, influenced by factors such as the world economic slow down, and decline in market speculation, international oil prices dropped significantly thereafter. New York oil prices fell to 33.87 dollars per barrel on Dec. 19, the lowest in five years.

    2. Devastating cyclone ravages Myanmar

Children wait while rice is handed out near Kundangon May 11, 2008. (Xinhua/Reuters File Photo) Photo Gallery>>>

    From May 2-3, tropical storm Nargis ravaged five divisions and states in Myanmar, leaving about 84,500 dead, 19,400 injured and 53,800 missing. The disaster affected some 7.35 million people, while economic losses were put at more than 4 billion U.S. dollars, accounting for about 21 percent of the country's gross domestic product.

    In the wake of the disaster, many countries and international organizations helped Myanmar with disaster relief and reconstruction efforts.

    3. Thailand rocked by continued political turmoil

Riot police stand guard outside the parliment building in Bangkok, capital of Thailand, Dec. 15, 2008.(Xinhua/Niu Xiaolei) Photo Gallery>>>

    From May 25, the Thai anti-government group, the People's Alliance for Democracy (PAD), held large gatherings to force Prime Minister Samak Sundaravej to resign, claiming he was just a deputy of ousted Prime Minister Thaksin Shinawatra. PAD supporters began a siege of the Government House in Bangkok on Aug. 26. On Sept. 9,the Constitutional Court found Samak in breach of the constitution and disqualified him as prime minister.

    On Sept. 17, deputy leader of the People Power Party, Somchai Wongsawat, was elected prime minister. However, his election was opposed by the PAD. Bringing matters to a head in the third week of November, PAD supporters surrounded the Parliament and occupied the capital's airports. On Dec. 2, the Constitutional Court ruled the three ruling parties in the coalition government were guilty of electoral fraud and Somchai stepped down.

    On Dec. 15, Democrat Party leader Abhisit Vejjajiva was elected prime minister.

    4. No smooth sailing on the Korean Peninsula nuclear issue

Chinese Foreign Minister Yang Jiechi (4th L) takes a group photo with top nuclear negotiators in a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK) in the Diaoyutai State Guesthouse in Beijing, on Dec. 11, 2008.(Xinhua File Photo) Photo Gallery>>>

    On June 26, the Democratic People's Republic of Korea (DPRK) submitted its nuclear declaration after a delay of almost six months. The same day, the United States launched the process of removing the DPRK from its list of state sponsors of terrorism, but later put off the process, saying its nuclear declaration needed verification.

    On Aug. 26, the DPRK said it had stopped disabling its nuclear reactor in Yongbyon and began to restore its nuclear facilities to their original state.

    On Oct. 11, the United States removed the DPRK from its terrorism blacklist after the two sides reached an agreement on the verification of the DPRK's nuclear program. The DPRK soon restored disabling its nuclear reactor.

    Differences between the United States and the DPRK over the verification came out into the open on Nov. 12. On Dec. 11, delegation chiefs of the six-party talks on the Korean Peninsula nuclear issue failed to reach a consensus on how to verify the DPRK's nuclear program and the United States announced it would reconsider its policies on the DPRK.

    5. Beijing successfully holds Olympic and Paralympic Games

Photo taken on Aug. 24, 2008 shows the fireworks of the Beijing 2008 Olympic Games closing ceremony in the National Stadium, or the Bird's Nest, Beijing, capital of China. The building on the left is the National Aquatic Center, or the Water Cube. The closing ceremony began at 8 p.m. sharp on Sunday. Xinhua Photo) Photo Gallery>>>

    On Aug. 8-24 and Sept. 6-17, the 29th Olympic Games and the 13th Paralympic Games were held respectively in Beijing. The numbers of participating countries and athletes surpassed past Games. Leaders and dignitaries from more than 80 countries and regions, a historic record, attended the opening ceremonies.

    China made tremendous efforts to hold the high-level Olympic and Paralympic Games with distinguishing features, and lived up to its promise of "Two Games, Equal Splendor."

    6. Russia-Georgia conflict deepens antagonism between Russia and US, Europe

Russian troops leave their sentry post some 20 kilometers from Gori, Georgia, August 22, 2008. Georgian National Security Council Secretary Alexander Lomaya said that Russian troops and tanks had pulled out from the strategically important city of Gori on Friday.(Xinhua/Shen Bohan) Photo Gallery>>>

    On Aug. 8, Georgia's army launched a sudden offensive on Tskhinvali, capital of its breakaway region of South Ossetia. Russia sent troops to South Ossetia in the name of protecting Russian peacekeeping forces and Russian citizens in the region, resulting in the eruption of a military conflict.

    In the backdrop of NATO's eastern expansion and the shrinking of Russia's strategic space, the Russia-Georgia conflict was a significant occasion for Moscow to make known to the United States and Europe its determination to safeguard its own interests. It was also Russia's first military action abroad since the disintegration of the former Soviet Union.

    Even after a French-brokered peace plan brought truce to the area, Russian President Dmitry Medvedev announced his country's recognition of the independence of South Ossetia and the other Georgian breakaway region of Abkhazia on Aug. 26.

    The five-day conflict elicited strong reactions from the United States, NATO and the European Union (EU) against Russia's military action in Georgia, and further soured their ties with Moscow.

    7. Financial crisis seriously impacts world economy

U.S. Federal Reserve Bank Chairman Ben Bernanke (2nd L), Treasury Secretary Henry Paulson (3rd L) and President George W. Bush (C) sit down to a G-20 Ministerial Meeting led by Brazil's Finance Minister Guido Mantega (2nd R) and Central Bank President Henrique Meirelles (R) at IMF Headquarters in Washington, October 11, 2008. (Xinhua/Reuters File Photo) Photo Gallery>>>

    On Sept. 15, the fourth biggest investment bank of the United States, Lehman Brothers, filed for bankruptcy, in an indication that the subprime crisis was developing into a comprehensive financial crisis.

    The crisis soon spread from the United States to the whole world, from developed nations to developing countries, and from the financial field to the field of the real economy.

    Under the impact of the financial crisis, global economic growth slowed markedly. The three big economies -- the United States, the European Union and Japan -- sank into recession.

    At the G20 summit on the financial market and world economy on Nov. 15 in Washington, leaders reached agreements on jointly handling the financial crisis and bolstering economic growth. Before and after the summit, major economies, such as the United States, the EU, Japan and China, put forward large-scale bailout and stimulus plans to stabilize the financial market and prevent a global economic recession.

    8. Obama wins U.S. presidential election

U.S. Democratic presidential candidate Senator Barack Obama (L) celebrates with his family after he won the U.S. presidential election in Chicago on Tuesday night, Nov. 4, 2008. (Xinhua File Photo) Photo Gallery>>>

    On Nov. 4, Democratic Party candidate Barack Obama defeated his Republican rival John McCain by a substantial margin to be elected the next president, the 56th, of the United States, also the first African-American to be elected to the White House.

    Obama highlighted the need for "change" during his campaign. He pledged to end the Iraq war, realize energy self-sufficiency, implement tax polices to protect the interests of middle and low income groups and ensure universal health care. He also promised to strengthen the consolidation of the parties, rebuild U.S. alliances in the international community and restore the United States' leading global role.

    As the United States reels under its most severe financial crisis since the Great Depression and remains deeply caught up in the wars in Afghanistan and Iraq, promoting economic growth and safeguarding national security will be the two main challenges for Obama after he takes office in January.

    9. Mumbai hit by terrorist attack

Policemen stand guard outside the Taj Hotel in Mumbai November 27, 2008. Gunmen killed at least 80 people in a series of attacks in India's commercial hub Mumbai and troops began moving into two luxury hotels on Thursday where foreign hostages were being held, local television said.(Xinhua/Reuters File Photo) Photo Gallery>>>

    During Nov. 26-29, India's financial capital, Mumbai, was shaken by a terrorist attack lasting almost 60 hours. A group calling itself the "Deccan Mujahideen" launched attacks on 10 buildings and facilities in the city, engaging in fierce firefights with Indian security forces, and took dozens of Indians and foreigners hostage in the iconic Taj Mahal Hotel, the Oberoi Hotel and a Jewish center, Nariman House.

    The attack left 172 dead, including at least 28 foreigners, and wounded 293 others. The event again rang the alarm bell for international anti-terror efforts.

    10. Mideast peace process heavily frustrated by Israeli airstrikes

Smoke rises after an Israel air strike in Gaza December 28, 2008. Israel launched air strikes on Gaza for a second successive day on Sunday, piling pressure on Hamas after 285 people were killed in one of the bloodiest 24 hours for Palestinians in 60 years of conflict with the Jewish state.(Xinhua/Reuters File Photo) Photo Gallery>>>

    On Dec. 27, the Israeli army carried out large-scale air raids on Gaza hitting dozens of targets run by the Islamic Hamas movement. The action was in response to Hamas' ongoing cross-border rocket and mortar shell attacks on Israel, the Israeli army said.

    So far, Israel's airstrikes have killed at least 345 people and wounded more than 1,600 others, becoming one of the most bloodiest events to have occurred in the volatile region since the 1967 War in which Israel occupied the Gaza Strip. The Israeli airstrikes have seriously set back the Middle East peace process.