The International Monetary Fund cut its global growth forecasts as the euro area’s debt crisis intensifies and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The world economy will grow 3.3 percent this year, the slowest since the 2009 recession, and 3.6 percent next year, the IMF said […]
China isn’t very good at foreign policy; that is the only way to make sense of the apparent decision by a number of large Chinese banks to boycott the annual meeting of the World Bank and the IMF scheduled for Tokyo next week. As the WSJ tells us, the decision comes as a result of the latest flare […]
The dispute between Japan and China over the Senkaku / Diaoyu islandscontinues to simmer. Even as International Monetary Fund (IMF) chief Christine Lagarde warned about the dangers to the global economyshould the dispute escalate, the fallout from the squabble continues to build momentum. There was always going to be a risk of economic consequences for both […]
LABOR is pursuing a dramatic upgrading of Australia‘s relationship with China that would put diplomatic ties between Canberra and Beijing on a similar footing to relations with the US, Japan and Indonesia. Foreign Minister Bob Carr revealed yesterday that he had sent the head of his department, Dennis Richardson, to Beijing last month to propose the […]
FOR investors around the world, the recovery seems assured. The MSCI global share index has risen almost 10% since July. The credit for this largely goes to central bankers. In July Mario Draghi, president of the European Central Bank (ECB), said he would do whatever it takes to hold the euro together. In early September […]
The roiling dispute over a remote set of rocks in the East China Sea, known to the Japanese as the Senkaku Islands and to the Chinese as the Diaoyus, is more than a mere diplomatic spat between two of the world’s largest economies. It has stripped away the thin veneer of cooperation between the two […]
In 2006 Abe Shinzo, appointed again last week as leader of the Liberal Democratic Party (LDP), Japan’s main opposition party, wrote; “It will not be a surprise if in another decade, Japan-India relations overtake Japan-U.S. and Japan-China ties.” Such a prediction now, as it was then, is improbable, but the prospect of Abe assuming Japan’s top office […]
A NEW force is emerging in Asian politics: the non-politician—or at least the politician posing as such. In South Korea the campaign for the presidential election in December has been shaken up by the new candidacy of an independent, Ahn Chul-soo, a former doctor turned antivirus-software tycoon. In Japan the new Japan Restoration Party (JRP), […]
In 1889, two years after an eccentric American millionaire established the European edition of The New York Herald, the precursor of the International Herald Tribune, Rudyard Kipling dined with some British businessmen in Hong Kong. The imperial rulers of China, most recently humiliated by France, had reluctantly started to modernize their vast domain; and British […]
THE whiff of agrarian reform has hung over North Korea since early summer when DailyNK, a Seoul-based defectors’ website, reported a plan to allow farmers to sell more of their harvest at market prices rather than lower, state-set ones. This week it grew stronger after two Western news agencies reported that farmers would be free […]
looking beyond borders 