Asia

New Nationalist Government of Japan Stokes Tensions with China

"Abe wants to lead the aging and insecure Asian economic power back to its former greatness and, most of all, to rid it of its unpopular 'postwar regime.' The premier wants to return Japan to its former position as a 'beautiful country,' which is also the title of a book in which he describes his vision for the nation's future. Now Abe wants to quickly increase defense spending. He is expected to buy surveillance drones from the United States soon in response to China's unveiling of eight new unmanned aircraft at an aviation show in November." Continue reading →

Continue ReadingNew Nationalist Government of Japan Stokes Tensions with China

Japan Ramps Up its Monetary Race to the Bottom

"So, the model for Japan today is their version of the New Deal. I'll assume that Japanese politicians will ignore that connection between easy money, inflation and war, and forget that such policies ended rather badly for the Japanese in 1945. LRC's own Mike Rogers reports from Tokyo that 'Japan's Debt Explosion [is] Coming Up'. Earlier, Rogers wrote that even the monied upper classes are starting to worry. Standards of living continue to fall or go nowhere." Continue reading →

Continue ReadingJapan Ramps Up its Monetary Race to the Bottom

Revolutionary Japan is suddenly the centre of world affairs

"We all watch with disbelief as China and Japan rattle sabres over the Senkaku/Diaoyu islands, so like the seemingly minor events that drew Europe's alliance systems into conflict from 1911 onwards. Both graduated to fighter jets last week: Japan sending in F-15s; China deploying J-10s, and mobilising the East China Sea fleet for live ammo drills. China's purpose is clear. It is testing the US security umbrella, and Washington's willingness to risk conflict to back Asian allies." Continue reading →

Continue ReadingRevolutionary Japan is suddenly the centre of world affairs

Chinese-Made Globes Anger The Philippines With A Territorial Claim

"A tiny, barely-noticeable line on some Chinese-made globes has created insult in Manilla where they are being sold in bookshops. The problem is that these globes appear to use China's 'nine-dash' map of the sea, first published in 1947, which shows Chinese territory extending hundreds of miles south from China's Hainan Island to the equatorial waters off the coast of Borneo. That little line indicates that the Spratly Islands are within Chinese territory, ignoring that they are currently the subject of overlapping territorial claims by China, Taiwan, Vietnam, Brunei, Malaysia and the Philippines." Continue reading →

Continue ReadingChinese-Made Globes Anger The Philippines With A Territorial Claim

A close call in the China Sea

"China has no desire to fight the United States unless absolutely necessary, and less to spark a US trade embargo. China holds over $1 trillion in US government debt. Beijing has no desire to panic all of East Asia. A war over the Senkaku/Diaoyus would be like the 1998-2000 desert war between Eritrea and Ethiopia, described as 'two bald men fighting over a comb.' No matter how much fish swim around the Senkakus, or how much oil and gas may be found underwater, nothing justifies a war. But, then again, nothing justified World War I that began by a murder in obscure Bosnia. Pray for cool heads in Beijing and Tokyo." Continue reading →

Continue ReadingA close call in the China Sea

“Let’s You and Him Fight,” Japan’s Prime Minister Tells Obama.

"Japan has a few useless islands that China is trying to get by force. Abe wants the U.S. to back Japan in keeping these islands. 'Let’s you and him fight.' He is also concerned that North Korea keeps launching missiles. 'Tell them to stop.' America pays for Japan’s defense because (1) we need Japan to keep useless islands away from China, and (2) we need a port for our carriers, so that the boys can let off a little steam on shore leave. Japan encourages this so that it can keep corporate taxes low, so that Japan’s export sector can bankrupt American firms, which pay taxes to defend Japan." Continue reading →

Continue Reading“Let’s You and Him Fight,” Japan’s Prime Minister Tells Obama.

Credit Suisse Says Governments Are Discouraging Gold Holdings – And What It Misses

"In a globalist, technocratic society, civil society arises as a kind of negotiation between the demands of the state and the desires of its citizens. But in reality this is an entirely unequal discussion, as the state intends to impose its demands by force. What Credit Suisse and other firms are missing, however, is that the current arrangement is an unstable one that arrogates more and more power over time to the state. If citizens in various repressive states are hoarding gold, it is because they don't trust government-run currencies. Perhaps they hoard gold as well because taxes are continually rising and because price inflation is out of control." Continue reading →

Continue ReadingCredit Suisse Says Governments Are Discouraging Gold Holdings – And What It Misses

India bans gold jewellery from Thailand

"In a fresh clampdown, India has officially banned the import of gold jewellery from Thailand. The authorities suspect that Indian importers are misusing the duty free pact with Thailand to import bullion from the South East Asian nation. The commerce ministry has recommended suspension of gold jewellery imports from Thailand in view of the increasing imports from the country. For some time now, the government has been looking to bring down imports of the precious metal into the country and has added several stages of import duties." Continue reading →

Continue ReadingIndia bans gold jewellery from Thailand

India plans $70 million mission to Mars in 2013

"India said on Thursday it will send a $70 million space mission to Mars this year to study the red planet’s atmosphere. The unmanned Mars orbiter mission, to be launched in October by the Indian Space Research Organisation, will undertake a 300-day journey to the planet to collect data about its climate and geology. India says the Mars mission will mark a significant step in its space programme, which has already placed a probe on the moon and envisages its first manned mission in 2016." Continue reading →

Continue ReadingIndia plans $70 million mission to Mars in 2013

India mulling further efforts to curb gold imports

"The world's biggest gold importer has been trying to get its population to buy less of the metal. Late January, the government hiked the import duty on gold and platinum to 6% from 4% to curb imports of the precious metal. However, realising that an import duty hike was in the offing, bullion retailers purchased 23% more gold in January this year, ahead of the duty hike. 'The shipment was the highest in 18 months and clearly undermined the government's efforts to cap imports. A purchase of 100 tonne in one month is 40% more than the monthly average. This has got the government worried once again,' said Baijal Pushpesh, bullion retailer." Continue reading →

Continue ReadingIndia mulling further efforts to curb gold imports