Japan’s relations with its immediate neighbors have taken a drastic dip in recent times. One major problem is the disputed territorial claims that Japan faces with China, South Korea and Russia.Japan controls Senkaku Islands (Diaoyutai in Chinese), a chain of islands also claimed by China and Taiwan. In early September 2010, Japanese patrol boats clashed with a Chinese fishing trawler near the isl

The 2012 presidential campaign is finally stirring to life, with would-be Republican candidates Haley Barbour and Mike Huckabee musing about whether Mitt Romney should be disqualified by similarities between Massachusetts’ Romneycare and Obamacare.As if on cue, President Barack Obama defended his health care overhaul in remarks to the nation’s governors by associating it with Romney’s, an embrace

TOKYO ― The closing decade of the 20th century offered a crystal ball for anyone peering into the future of the Asia-Pacific region. Japan’s economy, once the region’s leader, was “lost” after its asset bubble burst, whereas China overcame the economic stagnation that followed the Tiananmen Square crisis of 1989 to achieve its current path of strong growth. The debate raging 10 years ago about Chi

Always eager for more revenue, the Taiwanese government is now seeking to take from the rich with a proposed new “luxury tax.” Estimated to be capable of generating NT$15 billion ($511 million) a year, the proposed new tax is intended to close the ever-widening wealth gap and curb real property speculation, which has been rampant since Taiwan’s economic fortunes began turning around last year.The

Around the world, authoritarian regimes have tried to keep their citizens from hearing news of the protests raging throughout the Middle East and in their own countries. Some have tried shutting down cellphone and Internet service, but that has only sparked new flames of anger and discontent.Even the Chinese government, which has unleashed the most sophisticated Internet blocking system in the wor

One of the biggest growth markets in the world may surprise you.You’ve heard about the opportunities opening up in countries like China, regions like Asia and industries like green technology. But one major emerging market hasn’t received the attention it deserves: women.Today, there are more than 200 million women entrepreneurs worldwide. Women earn more than $10 trillion every year, which is exp

Economics is founded on the principle of gains from trade. If economic activity is considered as a kind of game, then all players are made better off when they cooperate. Of course, political science knows other types of “games,” notably the prisoner’s dilemma. In this situation, a player may be better off by refusing to cooperate. Hence a situation where prisoner’s dilemma is prevalent will foste

Financial institutions run into trouble when their officials exhibit a serious lack of morals. A case in point is the chaos at Shinhan Financial Group last year that was triggered by an internal feud among its three top executives. The trio staged a crippling power struggle in total disregard for the group’s reputation and the interests of its shareholders.The trio was ousted and the financial gro

Former Prime Minister Chung Un-chan appears to have learned no lesson from the Sejong City debacle last year. Upon his appointment as prime minister in September 2009, Chung staked his political career on a bill aimed at changing the concept of the planned city from an administrative town to a science-technology hub.Chung, a former Seoul National University economics professor, went in all guns bl

Libyan leader Muammar Gadhafi remains an obsession for advocates of decency. He personifies what is unknowable about the uprisings roiling the Arab world. What does the revolution mean, besides being an outlet for rage? What new order might emerge? After unwanted leaders are removed, what is there to stop like-minded individuals from insinuating themselves into power? Of what enduring value could

As of January this year, Taiwanese travelers can visit the Schengen Area visa-free, marking yet another step toward the island’s goal of acquiring wider visa exemption privileges for its passport holders.The inclusion of the European Union brings the number of countries and territories offering Taiwanese citizens visa exemptions to 96, with 75 granting Republic of China passport holders visa-waive

Few really wanted it started, and now no one knows how to end it. In between there’s been almost a decade of roller-coaster of the Doha negotiations at the World Trade Organisation.Many political leaders have now proclaimed that the “Doha Round” must be completed this year.Otherwise, it may have to be abandoned altogether, some have predicted.But there is not a lot of chance the deal will be done

The Obama administration put out a disturbingly weak statement last week after the latest piracy outrage off the coast of Somalia. Four Americans vacationing on a 58-foot yacht died during a standoff between a U.S. warship and the pirate crew that seized their vessel.Secretary of State Hillary Clinton called the act deplorable, which it was, but what did she urge? More “decisive action” by the “in

The Obama administration predictably is taking heat from conservatives about its restrained response to the crisis in Libya. There are even calls for a U.S. military response to hasten dictator Muammar Gadhafi’s departure. While well meaning, these critics seek short-term action that ignores substantial longer-term consequences.The administration’s initial restraint was appropriately designed to p

If per capita carbon emissions in China and India rose to car-happy U.S. levels, global emissions would increase by 127 percent, according to the International Energy Agency. If their emissions stopped at the levels found in hyper-dense Hong Kong, world emissions would go up less than 24 percent. As the Asian economies prosper, the United States should hope that they embrace the skyscraper more th

History doesn’t repeat itself, but it rhymes, Mark Twain is thought to have said. Democrats are hoping that’s true.Fifteen years ago, fierce budget fights between Bill Clinton and the Republican Congress forced the government to shut down twice. The conflict boosted the president, revitalized his vision for government and branded Republicans as extreme.Now, as battles loom over the debt ceiling an

Duvvuri Subbarao knows a thing or two about inflation. India’s central-bank head defeated price gains exceeding 10 percent twice in the past two years alone.Now, Subbarao is back at battle stations as a chorus of traders say he’s behind the curve. It’s hard to argue with the wisdom of markets with Indian inflation back above 9 percent, the highest among Asia’s 10-biggest economies.Yet the Reserve

President Lee Myung-bak has again called on Japan to take sincere action to transcend the past and build a future-oriented bilateral relationship with South Korea. In a speech on Tuesday to mark the 92nd anniversary of the March 1 Independence Movement against Japan’s colonial rule, Lee urged Tokyo to follow through on Prime Minister Naoto Kan’s statement issued in August last year.On Aug. 10, Kan

The euro wasn’t just meant to provide economic harmony. It was supposed to ensure political stability as well. Neither has happened and a generation of politicians will pay for it.Parties win and lose elections all the time. But it is rare to be destroyed as completely as Fianna Fail was in Ireland on the weekend. The party that has dominated Irish politics since independence in the 1920s was push

Does the U.S. have the assets, influence and will to affect the course of Middle East politics?At first glance, the answer appears self-evident given the extent of the country’s involvement in the region. Since the 1970s, the U.S. has been seized with Arab-Israeli peacemaking and has given Egypt more than $70 billion in aid. The U.S. has deployed military assets in the Persian Gulf to secure oil e