about the possesive pronounce "its",I have encountered it many times on the news,newspaper...
Newspaper usually use "its" when it want to avoid repeating a name (it can be the name of a country,a firm,a company)if you want to verify,just check out www.cnn.com , you will see how often do they use "its".
For an example:
"Vietnam is doing everything neccesary to join WTO,its efforts are appreciated by the US,but it has to go further....."
Hope it helps!