Writers advocate free speech at event honouring Salman Rushdie


Kyle Fitzgerald
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Writers and free speech advocates gathered on the steps of the New York Public Library in Manhattan on Friday to stand in solidarity with author Salman Rushdie, who was attacked on stage during an event last week.

Rushdie was scheduled to speak at the Chautauqua Institution on freedom of expression and writers in exile when 24-year-old Hadi Matar jumped on stage and allegedly stabbed him several times.

The author has a damaged liver, severed nerves in his arm, and could lose an eye, his literary agent said.

“When a would-be murderer plunged a knife into Salman Rushdie's neck, he pierced more than just the flesh of a renowned writer,” Pen America chief executive Suzanne Nossel said during her opening remarks at the event.

“He sliced through time, jolting all of us to recognise that horrors of the past were hauntingly present.

“He infiltrated across borders, enabling the long arm of a vengeful government to reach into a peaceful haven.”

Rushdie lived in hiding under the protection of the UK government for about 10 years after Iran's former supreme leader Ayatollah Ruhollah Khomeini declared a fatwa calling for the author's death in response to the publication of his 1988 novel The Satanic Verses.

Mr Matar, speaking to The New York Post, said he admires Khomeini, but did not say if the attack was inspired by the fatwa.

Hari Kunzu, a columnist for Harper's Publishers, read the opening passage from the controversial book.

“Salman once wrote that the role of the writer is to name the unnameable, to point at frauds, to take sides, start arguments, shape the world, and stop it from going to sleep,” Kunzu said after reading the passages. “And that's why we're here, because we owe it to him to stay awake.”

Andrew Solomon, author and former chief executive of Pen America, said writers are living in a time when the freedom of speech is under assault, pointing to recent book bans in American schools and libraries.

“The idea that the fatwa managed to stay at bay for so long, and that this appalling attack took place now is not happenstance. It's a reflection of something we all have to fight,” he said.

Nossel added: “We need to fight with vigour as if all our freedoms depended on it, because they do.”

Solomon and other writers read selected passages from works by the Indian-born author, whose style blending surrealism with reality and politics has garnered him worldwide fame.

Iranian writer Roya Hakakian read from Haroun and the Sea of Stories, a novel on the dangers of censorship and the first Rushdie wrote under the fatwa.

AM Homes, whose novel May We Be Forgiven was selected by Rushdie for The Best American Short Stories 2008, quotes Rushdie's remarks on censorship made at the 2012 Pen World Voices Festival.

“Writers talk about creation. And censorship is anti-creation, negative energy, un-creation … Censorship is the thing that stops you doing what you want to do,” she said, quoting Rushdie.

Mr Matar told the Post he had only “read, like, two pages” of The Satanic Verses, a book that drew condemnation from Muslims around the world.

“I read a couple pages. I didn’t read the whole thing cover to cover,” he said.

He has pleaded not guilty to second-degree attempted murder and assault charges. A judge in Chautauqua County, New York, has ordered him to be held without bail and to not give any further interviews to media.

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

Updated: August 20, 2022, 1:16 AM