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Asia Channel: Latest Posts
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Asia
The Xi-Li Era: Transition in Two Phases
An abbreviated version of the author’s “China under Xi-Li,” China-US Focus, March 18, 2013 In the coming years, China can expect economic and financial reforms, international recalibration, and gradual political transition. Unlike former president Hu Jintao and premier Wen Jiabao, Xi Jinping and Li Keqiang can no longer rely on double-digit growth, or China’s old [...]
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Asia
South Asia and the Geography of Poverty
The world has become relatively less poor in the last few decades. People under conditions of extreme poverty—that is, living on less than $1.25 per day—has declined as a proportion of the world population, from 52 percent in 1981 to 22 percent in 2008. Thirty years ago almost 75 percent of the developing world lived [...]
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Asia
Waiting for North Korea
“Our intercontinental ballistic missiles are on standby … If we push the button, they will blast off and their barrage will turn Washington, the stronghold of American imperialists and the nest of evil … into a sea of fire.” The North Korean Deputy Defense Minister just made this threat. Fortunately, North Korea has not succeeded [...]
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Asia
Foreign Investment Relocates in China and Asia
At the surface, foreign direct investment (FDI) into China has been declining for months. In 2012, it fell 3.7 percent to $111.7 billion, according to the Ministry of Commerce. In January, the drop was 3.7 percent –the lowest level since 2009. Internationally, the decline has been portrayed as a sign of decreasing foreign interest in [...]
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Asia
And the Pressure on the Bank of Japan Rises
The Wall Street Journal reports that Japanese Prime Minister Shinzo Abe is serious about a 2 percent inflation target: “It would be necessary to proceed with revising the BOJ law if the central bank cannot produce results under its own mandate,” Mr. Abe said during a debate Monday. He didn’t elaborate on the substance of any revision, [...]
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Asia
Pettis: What I’ll Be Watching in 2013
I’ll be watching a number of things in 2013 in order to get a better sense of what the future will bring. On January 22 Princeton University Press will be publishing my book, The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead, and in the last chapter of the book I argue that the great trade, [...]
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Don't Shoot the Messenger
Japan’s Looming Singularity
by Claus Vistesen and Edward Hugh According to Wikipedia, in complex analysis an essential singularity of a function is a “severe” singularity near which the function exhibits extreme behavior. The category essential singularity is a “left-over” or default group of singularities that are especially unmanageable: by definition they fit into neither of the other two [...]
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Asia
Job Creation: What Can the GCC Learn From Asia?
Asia’s job creation is one of the fastest in the world. Over the past decade, Asia grew rapidly thanks to high rates of savings and investment, human capital accumulation, diversification and knowledge transfers. Most of all, though, it put unskilled labor to work and enjoyed rising productivity. Overall, the informal sector – characterized by low [...]
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Asia
Australia’s Economic Outlook—The Nauru Option?
The Micronesian island of Nauru is prominent in Australian consciousness. As part of the Pacific Solution, Australia pays Nauru to “process” refugees pending determination of their immigration status. But Australia’s economic future may also parallel that of Nauru. In the 1960s and 1970s, Nauru boasted the highest per capita income in the world. Its wealth was [...]
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Asia
Great Graphic: Yen Since Onset of the Financial Crisis
This Great Graphic, created on Bloomberg, shows the US dollar against the Japanese yen since the beginning of the financial crisis. The dollar fell almost 40% from the peak in 2007 until the low in 2011. It has now pulled back, with the help of verbal guidance from Japanese officials, new evidence that deflation has not [...]
