KUALA LUMPUR: Weakening economic fundamentals across Asia following the financial crisis four years ago have raised the risks of domestic financial crisis sprouting in countries including Malaysia, says Nomura Research.
The current account surpluses have narrowed sharply, while the ratio of domestic private debt-to-GDP has risen and property markets have also become frothy.Sponsored Ads
“The biggest risk is domestic financial crisis rather than balance of payments or forex crisis,” noted Rob Subbaraman, Nomura’s Chief Economist for Asia ex-Japan.
China has been notably relaxed about her own people acquiring gold, and the government itself appears to be absorbing all of China’s mine output. Russia is also building her official reserves from her own mine supply. The result over time has been the transfer of aboveground gold stocks toward these countries and their allies. The geo-political implications are highly important, but have been ignored by western governments.
China and Russia see themselves as having much in common: They are coordinating security, infrastructure projects and cross-border trade through the Shanghai Cooperation Organisation. Furthermore, those at the top have personal experience of the catastrophic failings of socialism, which have not yet been experienced in Western Europe and North America. Consequently neither government subscribes to the economic and monetary concepts prevalent in the West without serious reservations.
Countries with territorial claims in the South China Sea that look for help from third parties will find their efforts “futile”, China’s Foreign Minister Wang Yi warned on Thursday, adding that the path of confrontation would be “doomed”.
China, Vietnam, the Philippines, Japan and Taiwan are among the many countries fighting for fishing rights in the South and East China Seas—but at the rate fish stock is being killed by pollution and over-fishing, there won’t be much left for the victors anyway.
In the East China Sea—home to the Senkaku/Diaoyu islands claimed by Japan and China—about 70% of fish stocks were harvested in previous years, but the figure is now over 90%. China began a 10-week fishing moratorium in most parts of the South China Sea last month in an attempt to allow fish stocks to recover, but other countries claiming the same territory have not been willing to set aside their nets.
Brig. Gen. Richard Simcock, deputy commander of U.S. Marine Corps Forces Pacific, told reporters at Pentagon that China is not “very transparent about a military buildup and why it’s being used. And, that generates fear.”
China does not respect the human rights of its own people. Its military build-up is not transparent. It’s getting aggressive with its neighbors. Of course people are worried that this is going to end badly. it probably is going to end badly.
NetTraveler virus found in computers in diplomatic missions of over 40 countries, including Syria, Turkey, Lebanon, Jordan, Qatar, and Iran
Computers in diplomatic missions and government offices worldwide have again been struck by a major virus, according to cybersecurity experts at Kaspersky Lab. The NetTravel virus, which Kaspersky uncovered in recent weeks, has attacked computers in diplomatic missions and government institutions in over 40 countries worldwide, including Syria, Turkey, Lebanon, Jordan, Qatar, and Iran. No “samples” of the virus have been found so far in Israel, Kaspersky said.
The attack is somewhat similar to the Red October exploit, which Kaspersky uncovered last year. In that attack, too, government and diplomatic computers were targeted. Israeli computers were found to be hosting the virus as well, but it was unclear if any data had been stolen.
The first and overriding point of view was that the era when the United States has been the ultimate superpower in the world was coming to an end. They all believed that a multipower world, with large roles for the U.S., Russia, China and India, was what would arise as the 21st century neared its midpoint. And that development did not seem to be a major concern to any of them.
In terms of America’s relations with the other three countries, the students believed that the most difficult country for the United States is China. China, they noted, has become increasingly more aggressive in the South China Sea, continues to pursue natural resources such as oil and natural gas to sustain its economic growth, and has developed a major presence all over the world.
China should hit out when necessary to resolve rows over some shoals in the South China Sea that are unlawfully occupied by other countries, a Chinese scholar has urged.
In a recent interview with a Shanghai-based radio, Han Xudong, a professor at the PLA National Defense University, issued the call on grounds that it is hard to settle the territorial disputes in that region through soft power such as “diplomatic maneuvering” and China “should strike at any time when necessary against any attempt by other countries to take control of the islets there.”
If this scholar is thinking this, then a lot of other people are too. That means pressure is building for China to get tough.
Several dozen Chinese soldiers have set up a remote camp some 10 km (6 miles) inside territory claimed by India in the high altitude Himalayan desert of Ladakh, Indian police sources said, in a possible return to border tension between the Asian giants.
An Indian foreign ministry spokesman said the two countries were in touch with each other to resolve the row. The ill-defined border has fuelled 50 years of mistrust despite blossoming economic ties.
The short answer is yes there is an alliance brewing. There are issues between the countries that could limit this alliance.
Xi Jinping and Vladimir Putin’s recent summit drew wide international attention. Are we witnessing the dawn of a new alliance?
If Moscow and Beijing are able to consummate the major deals begun at the summit we are likely witnessing the start of a more robust Sino-Russian relationship. On the other hand, as we have seen in the recent past, historical suspicions, mutual mistrust, and divergent strategic interests may once again prevent the development of a deeper and more coordinated Sino-Russian relationship.