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Everything's at stake in terror's wake
Tuesday's attacks against the United States portend far-reaching implications for everything from the country's anti-terrorism efforts and its plans for a National Missile Defense shield, to global finance. (Sep 12)
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Tokyo starts trading in Mid-East oil futures
The Tokyo Commodity Exchange on Monday became the first market in Asia to trade crude oil futures, with a success that has led to a forecast that the Tokyo market will become an international benchmark, rivaling New York and London. (Sep 10)
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EDITORIAL
After European now Asian Monetary Union?
We listened - closely - when Nobel economics laureate Robert A Mundell spoke in Bangkok the other day on an Asia Monetary Union. What he said seemed at best premature, and in part went entirely against the grain of editorial opinion expressed in these pages over the past few years - in other words, it was precisely what one needs to hear every once in a while to jog one's mind and not get complacent in one's views. (Sep 7)
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Farm export countries close ranks
The Cairns Group, which links 18 agricultural exporting nations, is demanding profound reform of global farm trade. Pointing to the annual US$360 billion in subsidies that farmers in the industrialized countries receive, the group will set forth its demands, including the elimination of these subsidies, at November's World Trade Organization ministerial meeting. (Sep 6)
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Developing countries clamor for free trade
While the industrialized nations of Europe, the US, Japan and Korea loudly extol the benefits of free trade for the poorer "South", it is developing countries that are fighting the battle to liberalize trade in agriculture, while the rich countries keep their markets clamped tightly shut. (Sep 3)
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Global gloom arrives on China's shores
Chinese legislators have been told the most serious problem facing the country is the slowdown in the global economy, the effects of which are now beginning to be felt. There has been a sharp drop in demand for Chinese exports and currency devaluations in some countries have undermined the competitiveness of Chinese goods. (Aug 31)
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China's economic zones something special
China's economic development zones will undergo changes after the country's long-awaited entry into the World Trade Organization - this most people know already. But despite the expected abolition of preferential policies applied to the zones, analysts believe that they can still rely on their relative "head starts" gained over the past few years to help push China into becoming a global manufacturing center. (Aug 31)
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- SMEs prepare for new opportunities
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If South Koreans think the financial crisis that hit the country in 1997 was bad, then they had better tighten their belts in preparation of things to come. A expert has warned that the protracted US economic slowdown means that the current domestic economic situation may be even worse. (Aug 30)
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Will Hynix rise from the ashes?
"A life and death war is now under way in the semiconductor industry," South Korea's Deputy Prime Minister believes. The comment follows a letter from the world's second largest DRAM manufacturer, Micron Technology of the United States, protesting against a move by Korean creditor banks to arrange a debt-for-equity swap for ailing competitor Hynix, a move the Americans say amounts to a subsidy. (Aug 30)
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- Banks to lose big-time
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South Korea's Hynix Semiconductor Inc, the world's third largest chip maker, is in a "cash burn" state, with its expenses and financial obligations eating up any earnings. The weak global semiconductor market is being blamed, but the fact remains that in a rapidly developing industry, Hynix and its creditors must soon decide whether to pour in enough funds to keep the company afloat or to allow it to go belly-up. (Aug 28)
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- Creditors appeal to foreign banks
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The pesticide endosulfan has been attributed to high incidences of miscarriage, cancer and birth defects, leading the Kerala state government in India to ban its use. But the business lobby, already reeling from a crash in global commodity prices, is staging a counterattack, blaming the region's health problems on inbreeding. (Aug 27)
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India scores high in investment index
A recent study places India high on the confidence index of foreign investors, citing a large market and a skilled labor force as attractions. The slow pace of reforms and excessive bureaucracy are drawbacks, though. (Aug 24)
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China