IV. International (9-01-09)

. It never pays to underestimate the bounciness of Asia’s emerging economies. After the region’s financial crisis in 1997-1998, and again after the dotcom bust in 2001, outsiders predicted a lengthy period on the floor—only for the tigers to spring back rapidly.

     . The West still looks weak with many economies contracting in Q2, even if America begins to grow in the second half of this year, consumer spending looks sickly. The Asian economies, increasingly decoupled from western shopping habits, are growing fast.

     . The four emerging Asia economies which have reported GDP figures for Q2 (China, Indonesia, South Korea and Singapore) grew by an average annualized rate of more than 10%. Even richer and more sluggish Japan which cannot match that figure seems to be recovering faster than its western peers.

. China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund.

   . Pres. Hu Jintao made his trip to Xinjiang Uyghur Autonomous Region after last July’s deadly riot when he urged government officials and security forces to focus on maintaining stability and warned separatists that they are doomed to fail.

     . The government stressed that its ethnic autonomy policies are “effective” but that improvements might be made when necessary. Officials and experts say there is room to revive the policies in some ethnic regions.

. More than 10 Taiwan political organizations denounced the Democratic Progressive Party (DPP) invitation to the Dalai Lama to visit the island as “unethical” and “politically motivated.”

     . New homes for disaster victims in Taiwan are now being assembled with help from 3 mainland technicians. The offer of pre-fabricated homes was first declined by residents of Kaohsiung County who feared that they contained excess levels of the chemical formol.

     . Taiwan began a 3-day mourning period to remember victims of Typhoon Morakot on 8/29, two weeks after the island’s worst weather disaster in 50 years devastated its mountainous South.

. Japan had an election Sunday that ousted the long-standing ruling conservative party and gave the opposition the job of nurturing a recovery from the country’s worst recession since World War II.

     . Jobless rate rose to an all-time high of 5.7% in July, government data showed, dealing a further blow to PM Taro Aso’s already embattled government just 2 days before Sunday’s Lower House election. The previous record was 5.5% last seen in April 2003.

     . Government bonds may fall on concern that a landslide win by the Democratic Party of Japan will lead to an increase in spending on social programs, according to Mitsui Sumitomo Kirameki Life Insurance Company.

. South Korea’s Coast Guard says the Democratic People’s Republic of Korea has freed five South Korean fishermen and their boat.

     . Just months ago, Korea was worried about a possible dollar shortage. Now it is overflowing with dollars, and foreigners rush to snap up local stocks and bonds, in addition to surging trade surplus.

     . Pres Lee Myung-bak will replace PM Han Seung-soo and six cabinet members later this week. Two lawmakers may join the cabinet.

. North Korea’s mobile phone service, which started out at the end of last year, uses an electronic mobile platform, produced in China that can be used by anyone and potentially even anonymously, if the user changes the SIM card.

     . Both sides in the North-South Korean Red Cross talks decided to arrange reunion of separated families and their relatives in the north & south between Sept 26 and Oct 1, to be held at the coming Harvest Moon Day.

     . Rodong Sinmun dedicates a signed article to the 6^th anniversary of the publication of Gen. Secretary Kim Jung Il’s works on thoroughly implementing the line of economic construction in the area of Songun set forth by the Workers’ Party of Korea.

. Presidential wannabes and other politicians in the Philippines joined 8/30 the 100-meter “Unity Walk” amid a roaring and appreciative crowd before signing a covenant to resort only to lawful channels in their election bids for 2010.

     . The mayor of Manila (Alfred Lim) ordered compulsory drug testing on bus drivers plying the streets of Manila in the wake of rising incidents of accidents involving buses.

     . The House Committee on Constitutional Reform is not discouraged by the government’s stand that there will be no budget for the holding of a Constitutional Convention next year.

. Several research houses in Malaysia have changed their forecast on the economy this year after the country

posted better-than-expected Q2 numbers.

     . TNT has announced that customers in Malaysia, Singapore, Indonesia, Thailand, Cambodia, Vietnam, Philippines, Hong Kong and India will enjoy the benefits of eInvoicing –secure electronic invoicing with digital signatures attached.

     . The five-star Nikko Bali Resort & Spa said it will maintain its 2009 budget of RM31.77 million ($9 million) to upgrade and promote the property, despite poor global market sentiment.

. Amid reports of incursion by Chinese troops and choppers, the Indian army has raised its vigil and preparedness to the highest level in the Ladakh region along the 646-k-long border with China.

     . The Planning Commission has scaled down India’s economic growth for the 11^th Five-Year-Plan that ends in 2013 fro 9% to 7.8%, following a slow recovery from the global downturn and drought that has hit over half of the country.

     .The National Space Agency said that India has lost all contact with an unmanned spacecraft conducting its first moon mission. The $79-million mission was launched amid national euphoria last October, putting India in the Asian space race alongside China.

. The Obama administration is accusing Islamabad for using US security aid to beef up its military against India. It accused Pakistan of illegally modifying its Harpoon anti-ship missile and maritime surveillance aircraft P-3C for lead attack for potential use against India.

     . The “anti-evasive cell” of the Federal Board of Revenue (RBR) has picked up five top sectors—cement, sugar, beverages, cigarettes and lubricants for detailed scrutiny of data to check any kind of evasion of duties.

     . The Finance Ministry is reported to refund GoP guarantee in favor of the National Bank of Pakistan (NBP) for rescheduling the loan of the Telephone Industries of Pakistan (TIP) until the Economic Coordination Committee (ECC) of the cabinet gives the green light.

. The Padma multi-purpose bridge in Bangladesh would be constructed with steel structure instead of concrete to complete the project in the fastest possible time.

     . Mudslinging among the top brass of the ruling Awami League over an abortive action against two leading judges continues, reflecting lack of understanding ad unity among them.

     . Rapid Action Battalion (RAB) conducted an extensive search for explosives at the Jatiya Peers Club to no avail after an anonymous caller made a hoax call.

. Hong Kong business tycoon, Li Ka-shing, was ranked ninth in Fortune magazine’s list of the world’s 14 most generous billionaire donors. He donated nearly $1.37 billion. He famously once called his Li Ka-shing foundation his “third son,” and has promised to give 1/3 of his $16.2 billion to charity.

     . Despite the economic meltdown that has shaken the world and plunged global law firms into darkness, young lawyers will have a bright future from Singapore’s dynamic changing legal landscape.

     . Rainfall in Inner Mongolia has been barely enough for the grass to grow. Both people and livestock are facing a serious shortage of drinking water.

     . China officially concluded the reparation of Potola Palace (former winter palaces) and Norbu Lanka (former summer palaces) of the Dalai Lama in Tibet. The Chinese government spent $43.9 million on the two projects.

. Dipongro University (Undip) in Indonesia has rejected student applications from Malaysian citizens for 2009-2010 academic year following recent Pendet dance controversy (claiming Indonesia’s culture as its own, such as Pendet, Reog and Rasa Suyange traditional songs and dances).

     . Continuing political confrontations and escalating violence in the southernmost provinces have dampened Thailand’s investment climate and could jeopardize its attempt to revive the economy.

     . Terming it as “unconstitutional,” a defiant vice-president (Permananda Jhe) in Nepal refused to obey the Supreme Court’s directive asking him to retake the oath of office in Nepali language or resign from the post.

     . A conference on democracy, featuring 15 internationally-acclaimed scholars and experts who may include Arundhati Roy, along with government ministers and parliament members from 16 countries will be held in Bhutan in October.



. Cambodia has halved the number of troops around an ancient border temple that has been the scene of bloody clashes with Thailand, the Defense Ministry said.

     . Fighting subsided 8/30 along China’s southern border after days of clashes between Myanmar government troops and ethnic rebels sent up to intercept 30k refugees streaming into China.

     . East Timor celebrated the 10th anniversary of the UN-backed vote that ended a bloody 24-year occupation by Indonesian forces and ushered the birth of Asia’s youngest nation.

     . The government of Sri Lanka has embarked on a massive rural land development project in the south to improve the region’s link with the rest of the country.

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