SlashAsia » Japan

Japan to sign on to International Renewable Energy Agency

Alexandra Stevenson — Mon, 22 Jun 2009 04:06:04 +0000

The Japanese government has announced its intentions to follow the US lead and become a member of the new intergovernmental agency IRENA. The body, set up earlier this year to facilitate research and promotion of renewable energy, has 100 states on its board to date. Other regional signatory states include the Republic of Korea, the Philippines, Cambodia and now Japan. The first IRENA meeting will convene next week in Egypt. Japan’s Yomuiri has reported the Foreign Minister saying the body could be key to promoting renewable energy around the globe.

Japan to join international renewable energy body, The Daily Yomuiri

Cambodia becomes 94th member of International Renewable Energy Agency, Xinhua News

NKorea increasingly belligerant, UN members increasingly intolerant

Alexandra Stevenson — Mon, 08 Jun 2009 01:03:56 +0000

As North Korea continues to spew provocative threats, members of the UN security council and regional allies are responding with increasingly less tolerance. China’s policy towards North Korea, once favorable, is turning tough as some analysts like Peking University’s Zhu Feng point out that China always believed that the Stalinist state would give up nuclear weapons in exchange for economic and security interests. The US has also taken a stronger stance, with President Obama announcing on the weekend that the administration would take a “very hard look” at how to proceed with North Korea, calling its actions “extraordinarily provocative.” South Korean president Lee Myung-bak has also declared South Korea will not back down. Meanwhile, North Korea is holding two American journalists hostage, for allegedly illegally entering the country, and will use them as bargaining chips. The only glimmer of hope currently is a two Korea discussion next week, to take place in an industrial park they jointly own.

A changing Chinese tune on North Korea?, Pomfret’s China blog

Obama is taking a “hard look” at how to handle North Korea, The Wall Street Journal

S. Korea says no compromise against North’s threats, Reuters

Obama says North Korea has been ‘extraordinarily provocative’, Bloomberg

China, Japan hold bilateral talks

Alexandra Stevenson — Mon, 08 Jun 2009 00:57:04 +0000

The world’s number two and three economies Japan and China met Sunday in a rare show of bilateral cooperation to boost global economic lag. The two rivaling countries agreed to cooperate in 11 areas including agriculture, environment, technology, aid and energy saving policies. China and Japan will jointly launch aid assistance programs to developing countries, and both countries pledged to curb Intellectual Property violations. They will also seek a US leadership role in global trade liberalization talks. This could take place as soon as next month, when the three countries plan to hold the first trilateral policy dialogue on the Asia situation, as well as larger global issues.

Japan, China vow to promote world economic recovery, Kyodo News

China, Japan seek closer cooperation on various economic, trade issues, Xinhua

US, Japan, China trilateral powwow, The Japan Times

Asia: Markets rally, currencies at 2009 high

Alexandra Stevenson — Mon, 16 Mar 2009 00:01:56 +0000

Asian currencies strengthened this week following an announcement that American banks could stand without government buyout, and optimism about new Chinese and Japanese stimulus packages. Japan’s Nikkei rose 5.15%, South Korea’s Kospi 6.7%, while Singapore’s Strait Times Index rose 5.6%. The Malaysian ringgit increased by 0.3% after the government announced a US $16 billion stimulus plan. The Taiwan dollar rose 0.8%, and the Thai baht 0.4%. Despite a regional rally, the Philippines peso and Vietnam dong were unaffected, and China’s Shanghai Composite actually dropped by 0.2%, after Wen Jiabao expressed concern about the stability of US Treasuries.

The Bank of America Corp., JP Morgan Chase & Co. and Citigroup Inc. announced this week that they do not need government support and may even see profits this year, boosting confidence in the Asia region as well as Europe. While analysts say this is just a temporary respite, things may be looking up in Southeast Asia. Citigroup has indicated it’s confidence that Southeast Asian countries will come out of the crisis soon, announcing plans to start equity brokerage business in Malaysia, Vietnam and Indonesia

Links and sources:

Citigroup to boost Asian equity trade , Gulf Daily News

Nikkei surges 5% as US bank hopes lift Asian markets , CNBC News

Asian stocks lifted , The Straits Times

Asian currencies best of week 2009, led by won, rupiah , Bloomberg

Asia: ASEAN countries to demonstrate self-sufficiency and open trade

Alexandra Stevenson — Sun, 22 Feb 2009 15:35:08 +0000

Finance ministers in the Asia region are holding bilateral talks in the lead up the 14th Association of South-east Asian Nations (Asean) summit, in a show of greater strategic cooperation to prevent trade protectionism. Malaysia held bilateral talks with Indonesian and Chinese finance ministers this weekend, to promote trade. Officials from Japan, China and Korea met Saturday afternoon to discuss counter-measures to economic slowdown. Finance chiefs from Asean countries and Japan, China and South Korea will gather at the summit on February 27 in Thailand to discuss concrete and collective response to financial woes.

Asean will speak out against using trade protectionism as a way to cope with the current financial crisis, Thai Prime Minister Abhisit Vejjajiva has said. Mr. Abhisit has encouraged Asean countries to seek aid from other regions, acknowledging that the IMF ” simply does not have the resources, money and time to look into the various problems in different regions.” The Asia Development Bank will participate in the summit as Asean members determine the details of a foreign reserve fund pool agreed upon last May. Contributing countries will discuss management and size of fund.

Links and sources:

Asean to resist protectionism, Straits Times

China, Indonesia and China trade talks, Malaysia Star

Asea foreign reserve pool, Xinhua

Asia: U.S. Secretary of State first trip abroad to Asia

Alexandra Stevenson — Sun, 15 Feb 2009 14:44:07 +0000

Hillary Clinton will travel to Asia on Sunday for her first trip abroad as U.S. Secretary of State, in a diplomatic gesture that shows a shift of priorities in American foreign policy. Speaking at the Asia Society in New York on Friday Clinton announced the Asian region would be a priority for the Obama administration and is “of vital importance” to the U.S. today and in the future. Her first stop will be Tokyo, where local media have claimed, but not verified, Clinton would meet with opposition Democratic Party of Japan leader amidst political tension. Clinton will then travel to Indonesia, South Korea and finally China, where she will push for more engagement and cooperation on economic policies and environmental issues. North Korea will also be a key topic of discussion, as Beijing plays a key role in slowing Pyongyang’s nuclear program.

Links and Sources:

Speech at the Asia Society - State.gov

Japanese papers report Clinton meeting with opposition leader:

Mainichi

Japan Today

Japan: Prime Minister Aso pledges $17 bln in aid for Asia region

Alexandra Stevenson — Sun, 01 Feb 2009 13:42:46 +0000

Prime Minister Taro Aso announced Japan would pledge over $17 billion in aid to help Asian countries cope with the global financial crisis in an address Saturday at the annual World Economic Forum in Davos, Switzerland. This move is a break from former prime minister Junichiro Koizumi’s vow in 2006 to cut back on Japanese foreign aid between two and four percent each year. In September of last year Aso offered to donate $100 billion to the International Monetary Fund to assist with the financial crisis.

Source: Kyodo News Agency