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West shuns Myanmar while Asian countries compete for trade deals

Alexandra Stevenson — Mon, 22 Jun 2009 04:04:34 +0000

Western calls for human rights in Myanmar fall on deaf ears while Asian money talks. As Western countries continue to impose trade sanctions on Myanmar and press for the release of Nobel prize winning Aung Sun Suu Kyi, Asian countries have jumped in to trade with the military junta. According to the Wall Street Journal, over the last five years trade with China has more than doubled, and other Asian countries including India, Thailand and Singapore are in competition for Myanmar’s resources. Business is good and the profits are high, as South Korean company Daewoo recently testified to when it forecast a US $10 billion profit over 25 years with a proposed 1100 km natural gas pipeline to be built from Myanmar to southwest China, reports The Irrawaddy. The main buyers of this gas will be state-owned China National Petroleum Corporation. Other countries in the bid included South Korea, India, Thailand and Japan. China continues to press for closer economic ties with the military junta, echoed in Chinese media last week during Burmese Vice Senior General Maung Aye’s visit to China and talks with Chinese Vice President Xi Jinping.

Myanmar second top leader Maung Aye leaves on official visit to China, Xinhua News

Skirting Western sanctions, Myanmar prospers, The Wall Street Journal

Weekly business roundup, The Irrawaddy

China refuses binding caps but pledges higher solar, wind power targets

Alexandra Stevenson — Sun, 14 Jun 2009 17:16:21 +0000

Chinese leaders this week highlighted praise for green policies from visiting US climate change envoy Todd Stern while upping the ante on solar and wind power by pledging to reach the European target for 2020 in solar and wind power. Following Stern’s four-day visit during which the two countries discussed cuts on greenhouse gas emissions, Chinese foreign ministry spokesman Qin Gang announced it would be impossible for China as a developing country to accept any “binding or compulsory target”. The government has pledged, however, to ensure constructive negotiations in December climate policy talks in Copenhagen. Earlier in the week Zhang Xiaoqiang, vice-chairman of China’s national development and reform commission, told The Guardian that Beijing would be capable of surpassing previous targets for wind and solar power, hitting a 20 percent renewable target. The Chinese government has also promised to allocate US $30 billion for low carbon energy projects.

China launches green power revolution to catch up with the west, The Guardian

US envoy speaks highly of China’s measures to contain green house gases, Xinhua News Agency

China says no to greenhouse gas cuts, Agence France-Presse

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

US and regional powers discuss how to deal with North Korea

Alexandra Stevenson — Mon, 01 Jun 2009 00:50:10 +0000

Days after North Korea detonated an underground nuclear device and launched a series of short-range missiles, US Secretary of Defense Robert Gates met with his counterparts from Japan, South Korea and China to discuss how to collectively deal with the increasingly belligerent Stalinist state. Washington has declared it will hold North Korea “fully accountable” if it pursues nuclear proliferation, and has urged a continuation of six-party talks, but has indicated it will respond quickly to any security threat to allies. Both Japan and South Korea have criticized North Korea; each country has a Cold War-era defense treaty with the US. Even China, North Korea’s old ally has condemned the recent nuclear tests. But China has taken a more nuanced stance because its ultimate goal is ensuring the regime doesn’t collapse. Beijing fears millions of refugees fleeing the border, amongst other concerns. China supplies 90 percent of the country’s energy and 40 percent of its food. That Russia and China are beginning to engage in current discussions reveals that they are “getting serious with peace in Korea Peninsula, and their patience is running thin”, according to an article in Chinese state-run People’s Daily. Unfortunate for all involved in negotiations, the “Cold War still persists” in the region in the eyes of the North Koreans, and the regime maintains “self-confidence and grit that it is a politically and militarily strong country”, according to North Korean state news agency KCNA.

DPRK Foreign Ministry spokesman clarifies its stand on UNSC’s increasing threat , KCNA

China committal to Northeast Asia peace, People’s Daily Online

Gates signals tougher approach to NKorea, Financial Times

North Korea’s nuclear test puts China in a tough sport, The Guardian

Why China won’t do more with North Korea, Pomfret’s China - Post Global

China-Taiwan cautious detente?

Alexandra Stevenson — Sun, 24 May 2009 16:21:17 +0000

The 15-member Taiwan delegation arrived in Geneva for the World Health Assembly over the weekend, the first time the island has participated in 38 years. This comes just a week after 100,000 Taiwanese protested President Ma Ying-jeou’s China friendly policies. Since the start of his presidency a year ago Ma has made it his priority to ease cross-strait trade relations, encouraging mainland tourism on the island and easing trade barriers for investment. This has not been met well and polls show 85 percent of the Taiwanese population oppose a communist leadership. Democratic Progressive Party official Lai Ching-Te says mainland acceptance of Taiwan’s participation at the WHA is a positive sign, but it has weakened Taiwan’s sovereignty, because the island is attending as an observer rather than a sovereign state. This is a view shared by much of the island. Meanwhile, a recent bid by China Mobile for a 12 percent stake of Taiwan’s Far EasTone Telecommunicatons will likely fall through as officials cite security reasons.

A health turn for Taiwan-China ties, Asia Times

Pres. Ma pledges to push for rapprochement with China, The China Post

Mandarin-speaking Republican governor to be US ambassador to China

Alexandra Stevenson — Mon, 18 May 2009 04:56:13 +0000

US President Barack Obama has nominated a Republican governor of Utah with strong ties to China as ambassador, signaling the importance of improving relations with China above bipartisan politics. Jon Huntsman Jr. is known to be an advocate of strong trade relations with China, and has talked about the need for the two countries to work together on environmental issues. In a message to Chinese leadership, Obama said that there are many issues which both countries have yet to agree upon and improving relations will require “candor and open discussion” so that “our nations play by the rules.” The current relationship between China is precarious for the US; China is one of the largest buyers of American debt, with a record US $767.9 billion. Strained relations could see China pull out of its US Treasury bond purchases, causing Americans to feel serious hikes in interest rates. A former ambassador to Singapore, Hunstman has been described as a “problem-solver, not a dogmatist”. The Utah governor’s family owns chemical company Hunstman Corp, which operates in China, and he has a daughter who was adopted from China.

Obama names Republican governor as envoy to China, Reuters

Potential Obama rival chosen as China envoy, The Washington Post

Obama taps Utah governor as China Ambassador, Wall Street Journal

Green investment boom in Asia?

enrico — Tue, 05 May 2009 06:19:03 +0000

Renewable energy and environmental sectors in Asia are expected to boom as analysts predict green-related investments, like energy efficient power grids, will account for $272 billion, or 20 percent, of economic stimulus spending in Asia. Regional governments have sprinkled incentives for investment, particularly in solar and wind power industries. If forecasts are accurate, Asia will surpass both the US and Europe in being the largest market for renewable projects. Analysis comes as governments encourage environmentally friendly investment alongside stimulus budgets that focus on efficient energy, low carbon technology and infrastructure development. China alone has allotted $200 billion of its $584 billion recovery plan to development of waterways infrastructure, low carbon vehicles and energy efficient building. The situation is more urgent in Vietnam, Indonesia, Thailand and the Philippines. An Asian Development Bank report issued this week emphasizes the importance of green investment in these countries, which could see economic contraction of six percent by 2100 due to the impact of environmental change on their agriculture-driven economies and dense populations in coastal areas.

Climate change hits Vietnam’s poorest areas , Bernama
RP, 3 other Asian countries face costly climate change risks , ABS-CBN news
Asia govts dangle carrots to attract green money , The Economic Times
Clean energy pitched, Business Mirror

New Chinese English paper launches

enrico — Wed, 29 Apr 2009 02:26:44 +0000

Hoping to increase its global news presence, the Chinese government has launched a new English language newspaper, The Global Times. An editorial in the first edition claims it “strive[s] to reveal a complete and true picture” of China, but the paper is published by state-owned People’s Daily. The cover story may say it all; “Chinese call for stronger naval presence” according to 81.7 percent of Chinese polled online who want to see a blue-water navy. The launch came at the start of celebrations for Chinese navy’s 60th anniversary, and over a month after a confrontation between US Navy ship and Chinese vessels in the South China Sea which brought up issues of territorial sovereignty (See: China-US Military Relations Challenged). Without any details, the article claims “experts are also dismissing foreign speculation about China’s intent” to build a strong navy to settle maritime disputes. While unlikely, it remains to be seen if this new publication will push any boundaries in the Chinese media.

Just another media mouthpiece

From US economic model to “Asian values” model?

enrico — Sun, 19 Apr 2009 20:38:30 +0000

China flexed its economic muscle this week at the BOAO Forum for Asia, calling on global monetary diversification and pumping $10 billion into a China-ASEAN infrastructure investment fund. Some Chinese officials claim the economy has “touched bottom” and predict growth to reach 7 percent this quarter (Zheng Xinli), but in an opening speech Premier Wen Jiabao explained that China alone won’t save the world economy. Foreign media has questioned the accuracy of statistics like recent 6.1 percent growth, to which the National Bureau of Statistics has promised “true and credible” future figures. Stats aside, it appears China does plan to influence Asian countries to do things with ‘Asian values’. Just two weeks after China voiced concerns about the current global economic order at the G20 and made calls for a new international reserve currency, state media writes “many countries pin hopes on the recovery of the world’s third largest economy.” It remains to be seen just what this recovery will look like.

China announces $10 billion Asian infrastructure investment, Voice of America

China alone unable to save world: official China Daily

Leaders to seek “Asian value” to tackle financial crisis at BOAO Forum for Asia, Xinhua

China says to improve economic statistics, China Daily

Asian markets showing optimism?

enrico — Sun, 12 Apr 2009 17:55:50 +0000

A drop ease in figures for China’s trade and South Korean growth have spurned optimism that markets may be bottoming out. Chinese exports in March fell 17 percent from last year, but the fall is significantly softer than February’s 25.7 percent drop. South Korea’s central bank said the economy managed a 0.2 sequential growth in the first quarter, good news after last year’s rapid contraction by 5.1 percent in the fourth quarter. In Beijing, government measures like cutting tax for exporters and clamping down on a yuan currency rising against the US dollar may have contributed to recent figures. In South Korea, i massive fiscal spending and severe interest rate cuts may have contributed to a new optimistic Bank of Korea forecast of 3.5 percent growth for the next year. The economy is still expected to contract by 4.2 percent in the first half of the year compared with a year ago. Japan’s Nikkei looked good at the close of this week, up 3.7 percent, after a new US $150 billion stimulus package was announced. New optimism came as a recent Organisation for Economic Co-operation and Development report dispelled any notions of global recovery. It didn’t, however, take into account take into account most recent figures.

China’s trade decline eases in March, AP
China, Korea data add signs of optimism
S korean economy set to contract

China auto sales at a pitch?

Asia stocks still rally, now time to invest?

Alexandra Stevenson — Mon, 06 Apr 2009 04:08:02 +0000

For the fourth week in a row, Asian stocks seem to be doing well as governments increase spending and G20 summit concludes with US$ 1 trillion pledge to help economies globally. The Indonesian government has cut interest rates to 7.5%, and the Malaysian government recently pumped an additional US$2.70 billion into a second stimulus package. The Shanghai composite closed down 0.23%, Taipei up 1.02%, Seoul’s Kospi up 0.53%, Bangkok closed 0.70% higher, Jakarta 0.1% and Manila 2.3%. Japan’s Nikkei saw it’s best finish in nearly 3 months, closing up 0.34%. Some analysts say now is time to invest in small Asia companies.

Links and sources:
Asian Small Caps: A Real Deal?, Brett Arends of the Wall Street Journal advises.
Asia roundup: stock marts climb modestly, Business 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: Internet-nanny states on rise

Alexandra Stevenson — Sun, 01 Mar 2009 14:55:50 +0000

According to a recent article in Asia Times Online, the 2007 Computer Crime Act in Thailand had made the use of proxy servers punishable by law and more recently 2, 300 websites have been shutdown for insulting the monarchy. The Justice Ministry has sought court orders to shut down an additional 3000. In Singapore the government, wary of any criticism, frequently sues publications like The Economist and the Far Eastern Economic Review for referring to the one-party government rule as ‘authoritarian’. The government, which uses economic success as legitimacy for it’s hold on power, harassed an Asia Times contributor for discussing financial trouble in the city-state. In Malaysia last year, local ISPs were told to block renowned blogger and critique of the government, Raja Petra Kamarudin, from accessing the Internet. He was later arrested under the Internal Security Act. The Burmese government is taking lessons from Russian and Chinese officials on how to tighten it’s grip in cyberspace too, in a more sophisticated way than has previously done.

Links and sources:

An opening in cyberspace closes, Asia Times Online

China’s Internet censorship explained, China you ren website

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

Malaysia: Prime Minister Badawi to step down, political environment tense

Alexandra Stevenson — Sun, 15 Feb 2009 14:59:10 +0000

Malaysian Prime Minister Abdulla Ahmad Badawi is expected to step down on March 31 after five years in power as leader of United Malays National Organisation, according to an official close to the PM. The move has not been publicly announced, likely because political tension is in the air: just this week Badawi’s coalition BN (National Front) staged a take-over in the northern state of Perak , one of four northern states where an opposition-led coalition has power. Opposition lawmakers switched parties, giving the Front majority power in Perak, and government officials have seized 20,000 copies of a widely distributed local newspapers, in a move one of the opposition parties is calling ‘politically motivated’ and an attempt to restrict information flow.

This is just the most recent chapter of a larger narrative that has seen the National Front silence opposition, using Malaysia’s equivalent to American Patriot Act, the Internal Security Act, to strike fear in opposition parties. Last year three political dissidents were incarcerated - blogger Raja Petra Kamaruddin, reporter Tan Chee Hoon and Democratic Action Party politician Teresa Kok - under the broad-reaching ISA.

The latest Human Rights Watch World Report has accused Malaysia of letting national security concerns override fundamental human rights. On the upcoming elections, blogger Raja Petra Kamaruddin recently wrote in Malaysia Today, ” when the rats begin to desert the ship then you certainly know that the ship is about to sink.” Kamaruddin continued that the UMNO way of doing things is to say “Take the money or die. Take the money or get sacked. Take the money or go to jail.”

Link and Sources:

Badawi steps down, The Straits Times

Raja Petra Kamaruddin, Malaysia Today

Reporting on new Human Rights Watch and Malaysia, Asia Sentinel

North Korea: The DPRK warns of military action against South Korea

Alexandra Stevenson — Sun, 01 Feb 2009 15:57:23 +0000

Pyongyang has stepped up rhetoric, declaring relations between the South and North at “the brink of war”. Pyongyang has threatened to discredit all previous military accords between the two countries and nullify a Western sea border, after s new South Korean unification minister, Hyun In-taek, was appointed last week. Hyun is known for his hawkish stance on North Korea and some analysts believe this is a diplomatic tactic from Pyongyang and not a serious threat. The North has called his designation a “naked provocation.”

Relations between the North and the South have been shaky since President Lee Myung-bak came into presidency eleven months ago. The two Koreas have not yet signed a peace agreement, only a cease-fire agreement decades after the 1950-1953 Korean war split the peninsula.

Sources:

North Korean news agency Korean Central News Agency http://www.knca.co.j

JoongAng Daily http://joongangdaily.joins.com

Yonghap News Agency http://english.yonhapnews.co.kr

China: Government to launch global media network with Chinese characteristics

Alexandra Stevenson — Sun, 01 Feb 2009 14:36:05 +0000

Chinese state run media corporations CCTV, Xinhua news agency and People’s Daily will receive 45 billion yuan (US$6.58 billion) from the central government to expand their news services. It’s part of what party officials call waixuan gongzuo “overseas propaganda”. One project is to develop a 24 hour English news channel modeled on al-Jazeera, providing Western audiences and Asians with the Chinese perspective. Each media entity is set to receive approximately 15 billion yuan each. CCP overseas propaganda division head Chen Wang: “We must strive to set up a top-line global media arm that covers the entire world and which is multi-lingual, enjoys a large viewership, has a large volume of information and is strongly influential.”

Source: Asia Times Online
http://www.atimes.com/