IV. International (11-16-09)
Asia Business News
 

 

. The APEC Summit closed with no deals made. Pres. Obama and Pres. Hu
Jintao moved to reject protectionism and pursue a new model for
economic growth after the world’s most severe economic crisis in
decades.

     . Pres. Obama has come under fire from Asia-Pacific leaders for
backsliding on free trade as a 2-day Asia-Pacific Economic Cooperation
summit devoted to get the world economy out of crisis opened in
Singapore.

     . Pres. Obama (BHO) said US and Russia would have a replacement
treaty on reducing nuclear arms ready for approval by year’s end, an
announcement designed as an upbeat mood leading to a summit with APEC
leaders.

     . US prosecutors moved to seize 4 mosques and a NY skyscraper
belonging to the Alavi Foundation, accused of illegally funneling funds
to Iran’s government. A total of 8 real estate properties and 9 bank
accounts were involved.

 

. BHO’s Asia trip is aimed at signaling a new era of US engagement in a
region that could offer vital support on security issues and which
accounts for more than half of the world’s economy.

     . They want to send a message to the US that they resented the
Bush-Cheney arrogant posture of “You’re either with us, or against us”
mantra but came out begging with a cup in hand for help to salvage its
imploding economy which is in trouble from creating chaos in other
countries. No country builds its economy through invasion and
occupation of other countries or by going to war continuously under
some cacaminy rationalization of its national interests.

     . While the US almost slipped into a depression, many Asian
economies grew, including those of China, India, Indonesia and Vietnam,
while the SE Asian region of 600 million people saw their incomes
continue to rise. The US is struggling from its preoccupation with 2
foreign wars, grappling with an economic crisis and has been unable to
position itself to share Asia’s swift gains.

 

. In his first visit to China, BHO is walking a tightrope seeking to
enlist help in tackling urgent global problems while weighing when and
how or if he should raise traditional human rights concerns.

     . He is expected to tread lightly when pressing China to let its
currency rise against the dollar. Doing so would benefit the US economy
by making American-made products cheaper in China but is reluctant to
upset Beijing. US manufacturers contend the yuan is undervalued by up
to 40%.

     . China is the #1 lender to the US at a time when it hit a record
$1.42 trillion deficit. That makes for a lot of Treasurys to be sold.
It has expressed concerns that the falling dollar threatens the value
of its existing US holdings.

 

. The US needs China’s help in dealing with foreign policy threat,
including curbing the nuclear ambitions of North Korea and Iran.

     . The exchange rate between the dollar and the yuan is a touchy
issue. In the arcane language that governs the $3 trillion-a-day
currency markets, many analysts read the shift as a signal that Beijing
was getting ready to let the yuan resume rising against the dollar.

     . Many countries have complained about the weaker dollar and
China’s close _link_ to it. Thailand, North Korea and Russia have sought
to stem the dollar’s rise against their currencies by buying dollars.

 

. Philippines is one of the largest human traffickers in the world with
consent and collaboration from the higher echelons of government, both
provincial and local, For example, the majority of the mayors in
Pampanga province are against the efforts of its governor to clean up
the rampant sex industry in Angeles City and elsewhere. Police officers
are sidelining as bar operators.

     . Manny Pacquiao outpunched a taller and bigger opponent (Miguel
Cotto of Puerto Rico) in 12 rounds to win by TKO. He is the first boxer
to earn 7 world _title_s in 7 different weight divisions, cementing his
status as one of the greatest boxers ever.

     . MMDA’s metropolitan rural safety unit (MRSU) observes that
“motorcycles are becoming one among the favorite transportation means.”
It is because of its mobility, affordability and the problem of
escalating fuel prices.

 

. Indonesia has become a major transit point for people fleeing
war-torn countries like Afghanistan, Iraq and Sri Lanka.  Indonesian
officials said they have intercepted a boat with 61 Afghan asylum
seekers.

     . Indonesian authorities said they deported eleven foreign
Greenpeace activists for joining a protest against forest destruction.

     . A group of 22 Sri Lankan asylum seekers who left an Australian
customs ship to come ashore in Indonesia will be allowed to stay for up
to three months.

 

. Dodgy practitioners of traditional medicine in Viet Nam are preying
on the vulnerable with outrageous prices and dangerous pre_script_ion.

     . The local advertising industry appears to have stopped the
downturn as producers are increasing ad-spending especially on consumer
producers, insiders say.

     . The National Assembly argued that Viet Nam should scale back its
nuclear program, cautioning that massive spending on the country’s
first nuclear power project could burden the economy.

 

. Canada’s Premier Stephen Harper will embark on a 3-day visit to India
to finalize a deal on civilian nuclear technology and sign an agreement
to safeguard investors’ rights in the 2 countries.

     . Lok Sabha speaker Meira Kumar said visits and exchanges among
Parliamentarians of various countries could contribute positively
toward upholding the values and ideals of democracy globally.

     . Anil Sabharwal, Air India’s manager at JFK International Airport
in NY, has been sent back to New Delhi after charges of sexual assault
on him.

 

. Taiwan’s envoy to APEC said a wide-ranging trade agreement with China
to bolster the island’s competitiveness could be completed by the end
of 2010.

     . The two Koreas clashed 11/10 in the first violent skirmish in 7
years. Since then North Korea (big talkers) has issued harsh daily
statements demanding an apology from South Korea and warning that the
south will “pay dearly” for the naval clash. The two Koreas have
accused each other of violating territorial waters and firing the first
shot in the skirmish, which left a North Korean ship badly damaged.

     . Japan’s Foreign Minister pressed for a quick resolution of a
dispute over the relocation of a key US Marine _base_, but also said if
would consider options previously rejected by Washington, which could
draw out negotiations.

 

. About 1 in 2 people in Thailand commend Prime Minister Abhisit
Vejjajiva for his measured leadership in dealing with the souring
relations with Cambodia, for staying calm in spite of the provocations.

     . The situation in Cambodia has not deteriorated to the point of
warranting concern for the safety of Thai expatriates there, Thai Dep.
P.M. said. Talks with Cambodia at this juncture to mend fences are
unlikely to resolve any differences.

     . Laos is one of the poorest and least populated countries in
Asia. It is roughly the size of the UK but has fewer people—about 6
million people, than metropolitan Bangkok.

 

. Hong Kong is a new target of US prosecutors pursuing a global
campaign against evaders of federal taxes, spurred by data acquired in
their crackdown on Swiss banks.

     . A large iceberg was spotted off an island about halfway between
Antarctica and Australia, a rare sight in waters so far north,
Australian scientists said.

     . New Zealand has imposed travel ban on Fiji officials which has
irked Commodore Frank Bainimerama, the self-appointed prime minister
who can now not visit the country for rugby matches, visit close family
or receive medical treatment.

 

. Fiji’s self-appointed prime minister said a 2014 election date was
“guaranteed.” Two years ago he had said a poll would be held on Dec. 10
this year. The prime minister bans anything critical of his regime.

     . Pres. Ramos Horta of East Timor wants UN troops to stay in his
country until 2012 because of great potential instability and the
country needs more time to organize its police and the economy.

     . Fifty London taxis have been driving around the city since Oct.
and will do so until the end of the year, covered in photographs of
Macau. The move aims to put Macau at top of the list of main
destinations for British tourists.

 

. The mystery of Bangladesh’s mass arsenic poisoning was finally solved
when the culprit was identified in tens of thousands of man-made ponds
excavated to provide soil for flood protection. Arsenic comes from
water down millions of low-tech “tube wells” scattered across the
country.

     . Militants staged a pair of attacks against anti-Taliban figures
in NW Pakistan, killing one of the men as part of an escalating
campaign to weaken the country’s resolve to fight Islamic extremism.

     . Troops of 52 Division, 59 Division and Task Force 3 (TF-3) in
Sri Lanka have uncovered LTTE military items while conducting cleaning
operations in liberated areas.

 

. More than 300 stray dogs that were dumped by Malaysia on isolated
islands (off West Selangor) became cannibalistic after weeks of
starvation, animal welfare activists said.

     . Security at this year’s APEC meetings in Singapore went
smoothly, compared to the International Monetary Fund and World Bank
meetings in 2006. No arrests were made at meeting sites, e.g., Suntec
Singapore, Shangri-la Hotel and Istana.

     . The Sultan of Brunei assured the P.M. of Japan of stable,
long-term supplies of liquefied natural gas from the Sultanate.

Rawlein G. Soberano, Ph.D.
President
Asian American Business Roundtable