Tag Archives: Asia

Japan’s homeless recruited for murky Fukushima clean-up

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“In the October case, homeless men were rounded up at Sendai’s train station by Sasa, then put to work clearing radioactive soil and debris in Fukushima City for less than minimum wage, according to police and accounts of those involved. The men reported up through a chain of three other companies to Obayashi, Japan’s second-largest construction company.  Obayashi, which is one of more than 20 major contractors involved in government-funded radiation removal projects, has not been accused of any wrongdoing.  Members of Japan’s three largest criminal syndicates had set up black-market recruiting agencies under Obayashi.”

http://www.reuters.com/article/2013/12/30/us-fukushima-workers-idUSBRE9BT00520131230

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Mongolia looks for second chance with foreign investors

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“Saruul Ganbaatar, the deputy head of Mongolia’s stock exchange, hopes the country’s days of interventionist economic policies are over and new laws ensuring foreign investors’ access to the frontier market’s industries will bring back sorely needed cash.
In mid-2012, Mongolia rushed into law restrictions on foreign ownership of strategic sectors such as mining, telecommunications and banking. The government hastily created the legislation to block Chinese state-owned Aluminum Corp of China (Chalco) from gaining a controlling stake in Mongolia-focused coal miner SouthGobi Resources. As a consequence Mongolia suffered a 52% year-on-year drop in foreign direct investment.”

http://www.brecorder.com/market-data/stocks-a-bonds/0/1268982/

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Mongolia at a crossroad as boom brings challenges

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“Dozens of office buildings are being erected at quick pace, while residential developments featuring fancy colours and rococo terraces are rising just across the road. Ulan Bator’s construction boom is adding new momentum to the country’s economic growth.  Mongolia’s vast, largely untapped deposits of gold, copper, coal and uranium might be worth as much as US $3 trillion. In a country of only 2.8 million people, that represents a huge opportunity.  ‘By 2030, Mongolia will become one of the three richest countries in Asia by GDP per capita after Singapore and Japan,’ Alisher Ali, founder of the investment group Silk Road Finance, said earlier this year in an interview.”

http://www.bangkokpost.com/business/tourism/388179/mongolia-at-a-crossroad-as-boom-brings-challenges

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Bill Bonner: An Important Update on Our New ‘Trade of the Decade’

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“The Nikkei 225 rose 57% for the year – the best year for the index since 1972.  Meanwhile, Japanese prime minister, Shinzo Abe… aided and abetted by new Bank of Japan governor Haruhiko Kuroda… goosed the annual inflation rate up to 1%. This had the effect of sending the yen down 15% against the dollar. Great for Japan’s exporters. Terrible for Japan’s fixed-income securities.  So, we made good money on both sides of the trade last year. By our rough, back-of-the-envelope ciphering, our ‘Trade of the Decade’ is up about 50% so far… with seven more years to run.  What will happen in those next seven years?”

http://www.bonnerandpartners.com/an-important-update-on-our-new-trade-of-the-decade/

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Why Living in Singapore May (or May Not) Be Right for You

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“Several people who have lived in Singapore longer than I insist that the cultural undercurrent is such that it is at a cusp of a revolution in creativity, with top international companies increasingly moving their R&D work and with world’s best universities setting up their operations there. Top leadership positions are increasingly taken up by locals.   Filing of personal income tax will likely take you a minute or two—only earnings are taxed. Your capital gains, dividends, and bank interest are yours to keep unmolested. Singapore doesn’t tax any overseas earnings either. Virtually everything dealing with the government is done on the Internet in an extremely efficient and friendly way.”

https://www.internationalman.com/78-global-perspectives/1064-why-living-in-singapore-may-or-may-not-be-right-for-you

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Local Perceptions and Bitcoin’s Future in Singapore

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“I have just returned from a very enjoyable trip to Singapore, in which our goal was to determine the sentiments and level of knowledge people had about Bitcoin in order to better determine Bitcoin’s future in Singapore. That journey took me to the pulsating central business district of a vibrant Singapore, traditional neighborhoods completely recast in the face of new immigration and rigorous central planning, and the newcomer immigrants and permanent residents where languages like Thai and Japanese punctuate the linguistic air of Singapore accentuated English. What we found out about Bitcoin sharply contrasted with that of what we learned about Bitcoin in Taiwan.”

http://squawkonomics.com/2014/01/02/squawk-walk-singapore-local-perceptions-and-bitcoins-future-in-singapore/

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Malaysian Central Bank Has No Plans To Regulate Bitcoin

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“CoinDesk spoke to Colbert Low, the founder of local services and consultancy firm BitcoinMalaysia.com, about whether the central bank’s statement would change anything.  Low compared the BNM’s stance to that of the neighboring Monetary Authority of Singapore (MAS) last month. After originally warning investors to ‘be wary’ of bitcoin in September, the authority announced later it would not regulate it at all.  Malaysia shares similar traits with Singapore in that it has a healthy supply of young IT professionals (both on the hardware and software side) and also serves as a regional hub for financial services, making it attractive ground for digital currency developers as well.”

http://www.coindesk.com/malaysian-central-bank-no-plans-regulate-bitcoin/

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Taiwan’s Government Says No To Bitcoin ATMs

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“Taiwan’s Financial Supervisory Commission (FSC) will not allow the installation of Bitcoin ATMs in the country because it believes Bitcoins are not a currency and should therefore not be accepted by individuals or banks as payment, said FSC chairman Tseng Ming-chung.  U.S.-based company Robocoin planned to bring its Bitcoin ATMs to Taiwan and Hong Kong as part of its global expansion plans.  Government attitudes toward Bitcoin differ widely throughout Asia, but the FSC’s decision is yet another sign that the cryptocurrency’s increasing mainstream acceptance also means it will come under scrutiny by more financial regulators.”

http://techcrunch.com/2014/01/05/taiwans-government-says-no-to-bitcoin-atms/

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World’s second Bitcoin ATM to open in Hong Kong

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“The world’s second Bitcoin ATM is due to land in Hong Kong by the end of this month, according to U.S. based software company Robocoin.  The machine, available for sale to individual operators such as banks and private entrepreneurs, allows users to buy or sell Bitcoin in just a few minutes.  The process should be much faster than setting up an account on an exchange or via mobile apps and computers which could take a few days for account verification.  The advent of Bitcoin ATMs is seen as a step towards bringing the digital currency into the real world.  The company has already sold 50 ATMs to other operators worldwide but they are not yet in operation.”

http://www.cnn.com/2014/01/06/business/bitcoin-atm-hong-kong/index.html

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Paul Craig Roberts: Washington Drives the World Toward War

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“The fatal war for humanity is the war with Russia and China toward which Washington is driving the US and Washington’s NATO and Asian puppet states. There are a number of factors contributing to Washington’s drive toward the final war, but the overarching one is the doctrine of American exceptionalism.  According to this self-righteous doctrine, America is the indispensable country. What this means is that the US has been chosen by history to establish the hegemony of secular ‘democratic capitalism’ over the world. The primacy of this goal places the US government above traditional morality and above all law, both its own and international.”

http://www.paulcraigroberts.org/2013/12/14/washington-drives-world-toward-war-paul-craig-roberts/

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