Tag Archives: Asia

Japan says it faces increasing threats from China, North Korea

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“Japan faces increasingly serious threats to its security from an assertive China and an unpredictable North Korea, a defense ministry report said on Tuesday, as ruling politicians call for the military to beef up its ability to respond to such threats.  The report, the first since hawkish Prime Minister Shinzo Abe took office vowing to boost Japan’s defenses, was likely to prompt a sharp response from Beijing, whose ties with Tokyo are strained by a territorial row. China is also upset by remarks from Abe suggesting he wants to cast Tokyo’s wartime history in a less apologetic tone.”

http://www.reuters.com/article/2013/07/09/us-japan-defence-idUSBRE96801020130709

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Japanese Troops Storm California Beach as Marine Power Eyed

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“A thousand Japanese troops have been learning how to recapture territory in the face of enemy fire. While the shoreline may be California, the skills they are building could one day be used closer to home. The two-week ‘Dawn Blitz‘ joint drills in June saw a Japanese Self-Defense Force ship launching a hovercraft designed to carry troops and heavy weaponry that roared onto the beach.  The operations reflect the ruling Liberal Democratic Party’s interest in developing a Marine corps to counter what Prime Minister Shinzo Abe’s government says are Chinese attempts to change the status quo in maritime disputes.”

http://www.bloomberg.com/news/2013-07-10/japanese-troops-storm-california-beaches-as-marine-power-eyed.html

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Japan Resorts To Teenage Girls In Short Skirts To Get Their Stocks Up

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“To get an idea of how Japan’s prime minister, Shinzo Abe, is faring in his quest to lift his country out of two decades of stagnation, look no further than the skirts of the girl group Machikado Keiki Japan.  The band, whose name translates roughly as ‘street corner economic conditions’, became a bellwether for the health of the world’s third biggest economy earlier this year when they promised to shorten their skirts every time the country’s stock market made significant gains. Their debut single, Abeno Mix – complete with unlikely singalong references to quantitative easing and construction bonds – takes its cue from Abenomics.”

http://www.zerohedge.com/news/2013-06-13/japan-resorts-teenage-girls-short-skirts-get-their-stocks

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Central bank decree now runs Vietnam Gold sector

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“Vietnam central bank has warned that gold businesses cannot launch programs to accept gold deposits from customers without permission from the central bank. The central bank said these illegal businesses can be inspected and penalized. It also ordered that commercial banks must now have SBV permission to run storage services. There is a very important clause in the decree, which stipulates that all activities other than trading gold by the businesses should be licensed by the central bank and the government, in order not to negatively affect the market.”

http://www.bullionstreet.com/news/sbv-decree-now-runs-vietnam-gold-sector/5197

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Smuggled Gold worth $5 billion to hit India this year

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“India’s efforts to curb gold imports are backfiring as the country already started to suffer from illegal gold transactions. Reports said old style gold smuggling is back in the country as series of restrictions by the government makes it difficult for the importers to buy from abroad while smugglers are offering much lower prices. Analysts said smuggling became a lucrative affair after the rise in customs duty on gold imports and people risking their necks to smuggle in gold. They added that smugglers got an opportunity after being sidelined for nearly 15 years due to liberalized policies of the government on gold imports.”

http://www.bullionstreet.com/news/smuggling-gold-worth-5-billion-to-hit-india-this-year/5201

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Shanghai sees global status via new free-trade zone

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“Under the plan, endorsed by the State Council on Wednesday, Shanghai is expected to allow companies to freely convert foreign exchange within specified areas of the city while allowing free capital and commodity inflow for the entire city.  Mayor Yang Xiong said Shanghai’s future hinged on the free trade zone, which could give the city a leg-up over rivals.  Shanghai’s ambitions to become the nation’s economic engine, leapfrogging Hong Kong as the dominant financial hub in the region are an open secret. The long-awaited policy incentive granted by the cabinet will only add heft to the city’s attempts to attract global capital and talent.”

http://www.scmp.com/business/economy/article/1275689/shanghai-sees-global-status-free-zone

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India’s poor ‘duped’ into clinical trials for untested drugs

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“Many desperate and poor people in India are unwittingly taking part in clinical trials for drugs by Indian and multinational pharmaceutical companies that outsource the work to unregulated research organisations.  Testing pharmaceuticals on humans is a mandatory and expensive step for drug companies who must prove to regulatory authorities that treatments have no dangerous side-effects in order to bring them to market. The Confederation of Indian Industry estimates that companies save up to 60 percent by undertaking the different phases of testing a new drug in India as compared to developed countries.”

http://www.rawstory.com/rs/2013/07/11/indias-poor-duped-into-clinical-trials-for-untested-drugs/

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9 foreign countries where you can use U.S. dollars

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“There are many great pleasures of the globe-trotting life, but dealing with pesky Travelex lines is not one of them. Sick of exchange rates, transaction fees, and coming home with pockets filled with useless coins? Here are foreign destinations where you can pay with U.S. dollars, from the sunny and subtropical to the still-undiscovered.”

http://www.usatoday.com/story/travel/destinations/2013/07/03/foreign-countries-where-you-can-use-us-dollars/2484391/

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Japan Government To Change Inflation Calculation Ushering In Even More BOJ Liquidity

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“The official explanation for this upcoming adoption of core-core-CPI which also excludes energy prices in addition to fresh food costs (as core CPI does everywhere else in the world) is to ‘raise the bar’ on Abe’s inflation goal. In reality, it will simply grant the BOJ unlimited ammo to continue injecting liquidity indefinitely because absent exploding energy costs (as we have discussed), inflation in Japan is quite dormant. But what will really happen is that inflation will merely become just one more governmentally-determined and goalseeked economic indicator and policy tool, as it is in the US and China.”

http://www.zerohedge.com/news/2013-07-09/japan-government-change-inflation-calculation-ushering-even-more-boj-liquidity

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Japanese Are Bailing Out of US Treasury Bonds

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“It appears that the bulk of the bonds that Japanese investors sold in May were US Treasurys and the roughly $30 billion were a record amount. This follows the $15.5 billion sales in April.  May was the fifth consecutive month Japanese investors have reduced their U.S. Treasury holdings and over this period sold about 8 trilion yen.  The second-quarter selloff appears driven to a larger extent by worries about Fed tapering and its potential to push up global bond yields, they said. This is what is going to make it very difficult for the Fed to slow/stop buying Treasury securities. When they slow/stop, there will be even more upside pressure on rates, with very serious sellers.”

http://www.economicpolicyjournal.com/2013/07/japanese-are-bailing-out-of-us-treasury.html

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