~ China ~

Weathering the American Contagion

by Ulrich Volz

There’s long been talk of a decoupling of developing countries and emerging markets from the U.S. economy. Some even set their hopes in a reversed decoupling, meaning that big emerging economies like China could take over as engines of world growth and pull the U.S. forward. It is now evident that this was wishful thinking. The U.S. already has the flu, Europe and Japan have been infected, and there is no way that the rest of the world’s economies will get by unscathed.
Posted December 28, 2009

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FEER's December Issue Is Here!

Our December 2008 issue is on the newsstands. Join Asia’s thought leaders and save 50% off the cover price by subscribing.

 

~ Financial Crisis ~

China and the End
of the G-8

by Gregory Chin

As the recent emergency G-20 summit illustrates, how the world deals with financial crises has changed forever.

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~ Holiday Cheer ~

A Jew’s Christmas in the Philippines

by Robin Hemley

A writer and proud father learns to sit back and let Santa take the reins, if only for one night.

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~ Book Review ~

Dancing in Shadows

Stephen Morris reviews U.N. diplomat Benny Widyono's book on Sihanouk, the Khmer Rouge, and the United Nations in Cambodia.

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Recent Essays & Reviews

India's 'Other' Terrorism

By Chad Hazlett

The terror attacks on Mumbai made headlines around the world. When the dust settled, we found ourselves asking the same questions, "How did this happen?" and "What could we have done to prevent this?" But while India and the world contemplates the causes and consequences of these attacks, we ignore India's "other" terrorism: From late August through October, organized Hindu extremist groups committed systematic attacks killing more than 100 people, mostly Christians, in the eastern India state of Orissa. Most worrying, the terrorists responsible for Orissa's violence remain at-large and have explicitly threatened to repeat their attacks on Dec. 25.
Posted December 23, 2008

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China's Contaminated Brand

By Henry I. Miller

China’s food adulteration woes continue as testing has revealed that melamine contamination of eggs produced in three provinces has caused kidney stones and renal failure in children. This comes on the heels of widespread milk contamination with melamine that has sickened more than 50,000 and killed at least four. Chinese officials have attempted to restore consumer confidence. But so far their measures are not likely to reassure foreign consumers and importers of Chinese products.
Posted December 19, 2008

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Dispatch from China's 'Puppet Capital'

By Jonathan Adams

QUANZHOU, China – On a factory floor in this city on China's southeast coast, 15 women huddle over sewing machines, stitching the clothes of the gods. They're skilled laborers, embroidering detailed, brightly colored dieties' outfits, banners and wall hangings for Buddhist, Taoist and folk temples. They also make clothes for the hand puppets and marionettes that have earned Quanzhou fame as China's "puppet capital." The factory used to make products for export, particularly to neighboring Taiwan. Now, with the global financial crisis and a corresponding drop in China's export market, it's increasingly selling to domestic Chinese buyers.
Posted December 23, 2008

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Who Is Abhisit Vejjajiva?

By Colum Murphy and Hugo Restall

Thailand’s latest prime minister, Abhisit Vejjajiva, has a tough task in trying to bring the kingdom back on the path to democracy. Who is Mr. Abhisit and what does he stand for? Late last year, REVIEW Deputy Editor Colum Murphy spent a day with the aspiring prime minister on the campaign stump for the December 2007 parliamentary elections. Mr. Abhisit’s Democrat Party did not win a victory at the polls on that occasion. However, the recent political crisis has now given the youthful Mr. Abhisit a chance to lead his country out of political and economic turmoil. Will he succeed?
Posted December 16, 2008

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Thailand's Coup in Disguise

By Leslie Hook

After months of unrest and violence, Thailand’s political crisis has moved off the streets and into the halls of parliament. Over the next few days the Democrat Party and the Puea Thai Party will be jostling for control of a new government. The fact that this battle is being fought in parliament, rather than in occupied airports, is a positive step, and will result in a more stable Thailand in the short term. But in the long term, regardless of which party comes out on top, Thailand’s democracy will be the loser.
Posted December 9, 2008

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Bombay Burning

By Salil Tripathi

Bombay has always risen from these assaults, with Sisyphean determination, carrying on as if it is business as usual, that life must go on. Indeed, that spirit persists, and it is admirable. It would not be Bombay if it took out its rage on those who had nothing to do with the atrocities. To understand that attitude, turn to words that anyone who has spent some time in Bombay understands: bindas (brave) or khadoos (stubborn).
Posted November 27, 2008

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How Not to Fight Terror

By Mira Kamdar

As shock gives way to anger following the terrorist attack on Mumbai last week, Indians are demanding answers and action from their government. Yes, the authorities' response to terrorism has been frustrating. But the answer to preventing more attacks and to responding more effectively to attacks when they do occur does not lie in resurrecting old anti-terror measures that were scrapped for good reasons, nor in inventing new ones worse than their predecessors.
Posted December 4, 2008

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Saving India-Pakistan Relations

By Frank Schell

In the wake of the Mumbai attacks, with passions running exceedingly high, let us hope for a diplomatic effort, and for Indian moderation in the coming days in terms of a military response on its borders. The Bush and incoming Obama administration should do all they can to make sure that cooler heads prevail in New Delhi and Islamabad at this dangerous time. There is an opportunity here—for India to engage Pakistan to root out terrorist havens and training camps on Pakistani soil and for the U.S. to serve as a partner and honest broker between the two.
Posted December 2, 2008

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The State of India's Economy

By Manish Sharma and Sharif D. Rangnekar

The terror attacks that held the financial and commercial capital of India, Mumbai, hostage last week came at a time when the Indian economy and Indian businesses were already struggling. The bottom line is that the India growth story has taken a beating. Industrial production dipped to as low as 1.3% this August compared to 10.9% in 2007. Foreign institutional investors pulled out close to $15 billion in the past few months leading to the stock market crashing from a high of 20000 in January to around 9000 points at present. These factors and others have led to corporations and individuals taking a second look at how they do business in India.
Posted December 8, 2008

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'A Grim, Uncertain Future'

By Kathleen E. McLaughlin

BEICHUAN, China - Most of the soldiers who helped in the weeks after the devastating quake that killed more than 80,000 people in the region are gone. Residents say the army left this summer before the Olympics. Volunteers are few and far between. While aid groups are helping to rebuild as they undertake counseling and education programs around the region, there is an overwhelming sense from survivors of a grim, uncertain future.
Posted November 30, 2008

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Mr. Aso's Cynical 'Stimulus'

By Nobuyoshi Sakajiri

Prime Minister Taro Aso’s five trillion yen ($52 billion) economic stimulus package has been met with lukewarm support by the Japanese public. The plan includes a two trillion yen cash handout program, where every citizen will receive 12,000 yen ($124). Originally, the government wanted a flat-rate tax cut but instead adopted a cash handout, reportedly because of Mr. Aso’s concerns over his flagging popularity. Now that Japan’s economy has fallen into another recession, the government does not have the luxury to experiment with populist policies that have failed in the past.
Posted November 20, 2008

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Corporate Japan's War Stories

By William Underwood and Mindy Kotler

Since the end of World War II, businesses in Japan have seemed intent on fighting a rear-guard action to rewrite the wartime history of their country. This recurring tendency has a pernicious effect on Japan’s postwar relationships and undermines its corporate citizenship efforts. Many Japanese companies, including the successor to Prime Minister Taro Aso’s family firm, have promoted their own idealized versions of the Asia Pacific War.
Posted November 26, 2008

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Travellers' Tales

Our FEER blog, where the editors of the Far Eastern Economic Review laugh with, not at, Asia.

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~ From FEER's December Issue ~

Dhaka’s Halting Return to Democracy

by Colum Murphy

As Bangladesh prepares for parliamentary elections on Dec. 29, the prospect of a return to democracy after two years of rule by an army-backed interim government has some citizens waxing optimistic....

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