What’s Inside Nuclear energy promises to play a large role in Japan’s upcoming elections. Read more on Politics page 3. Photocourtesy of www.wikimediacommons.org.
Cambodian T-55 tanks will not upset regional balance. Read more on Military page 8. Photocourtesy of www.wikimediacommons.org.
Kim Jong-un believed to be World’s sexiest man by People’s Daily. Read more on Oddities page 7. photo courtesy of People’s Daily.
Made In Asia
All the news you’re missing
This Month in Asia Conservative candidates elected in South Korea November 9 November 6 and Japan; bilateral relationship at a low point Barack Obama is re-elected as President of the United States over former Massachusetts Governor Mitt Romney.
November 14 China sends a detachment of 558 troops to Liberia on a United Nations peace-keeping mission.
China launches their first joint, five-day patrol in the South China Sea. The fleet draws from Maritime Safety Administration ships based in the provinces of Guangxi, Guangdong, Fujian and Hainan. The patrol marks China’s latest move to bolster supervision of the South China Sea.
November 19 In a proposed amendment to ease stipulations on permanent residency in China, foreigners who have lived in China for more than 10 years may now be eligible for a ‘green card’. Such ‘green cards’ would provide international individuals with a sense of security and belonging, China hopes.
November 22 A shaky ceasefire agreement between Israel and Hamas is reached after eight days of fighting. The agreement stipulates that rocket fire from the Gaza Strip into Israel will cease, and Israel will not launch a ground invasion into Gaza territory.
November 16 After months of secretive negotiations, bargains, and mysterious rumors, China reveals the group of seven leaders who will lead the country for the coming decade. Xi Jinping becomes Hu Jintao’s successor as the head of the Communist Party. Li Kequiang, Zhang Deijiang, Yu Zhengsheng, Liu Yunshan, Wang Qishan and Zhang Gaoli comprise the rest of the Politburo Standing Committee.
South Korea’s new president Park Geun-Hye pictured with Condoleezza Rice in 2007. Photo courtesy of US Department of State.
Philippe Mauger Military Editor Conservative candidates elected in South Korea and Japan; bilateral relationship at a low point The recent election of conservative leaders in South Korea and Japan theoretically leaves both countries with a shared top-level outlook on the region. However, the current Japanese prime minister’s hardline stance on historical issues, and both candidate’s nationalistic line on territorial issues has proven highly divisive, sinking bilateral relations. On January 4th, 2013, Japan sent an envoy in order to re-establish working relations between both countries, following Park Geun-hye’s refusal to meet with her Japanese counterpart in December.
Shinzo Abe was elected as prime minister of Japan on December 26th, 2012. He ran on a conservative fiscal, foreign relations, and cultural platform. He has vowed to extirpate Japan from its long-lasting economic depression through a $120 billion stimulus package, and has promised an aggressive central bank policy in order to devalue the yen and help Japanese exports stay competitive. Such a devaluation would risk setting off a trade war with South Korea, which competes against Japan for regional and global economic markets. Shinzo Abe has presented himself as a hawk on foreign policy issues, notably in opposing China. During the internal party election in September, Shinzo Abe took the hardest foreign policy line amongst the five candidates, calling for the
creation of a full-fledged Japanese army. Whether he is able to overturn Japan’s peace constitution’s limits on Japanese armaments will have to be seen, but it appears he is serious about this intention, having picked a known hardliner, Itsunori Onodera, as defense minister. This has been met with protests in South Korea, notably during the envoy’s visit, due to the disputed nature of the Dokdo/Takeshima Islands as well as memories of Japanese imperialism. Shinzo Abe has fanned historical tensions by visiting the controversial Yasukuni Shrine, which pays tribute to Class A war criminals alongside Japan’s war dead. The internal party debates in September also saw Shinzo Abe support “patriotic education”, continued on page 3
North Korea continues to print “perfect” USD counterfeits
The Kuomintang Party celebrates its 118th anniversary.
Juli Gitelman Staff Writer
November 26 Ai Jing becomes the first Chinese contemporary artist to hold an exhibition at the National Museum of China. Jing is also a renowned singer in the region.
photos courtesy of www. wikimediacommons.org
November 27 Over 100,000 people gather in Cairo’s Tahrir Square protesting against Egypt’s president. They demand the revoking of decrees granting himself near autocratic power.
Over a decade ago, U.S. officials discovered highly sophisticated counterfeit bills which could only be identified by advanced detection technology at the U.S. Federal Reserve Banks. Investigators believe there is overwhelming evidence that these “superdollars”, as they have been nicknamed by the U.S. Secret Service, are made in North Korea with the same printing presses, fabric, and ink as genuine U.S. bills. They are believed to have been in existence since the 1970s, when they were developed under the instruction of the late Kim Jong Il. Over the years, North Korean diplomats have been caught carrying hundreds of thousands of superdollars; such an incident occured in Hong Kong and Macau in 1994. Experts speculate that there will be a possible increase in North Korean counterfeiting activities under the
new leadership of Kim Jong-un. While the bills had been detected abroad in years prior, North Korean superdollars were first found on U.S. soil within a shipment of commercial goods from Yantai, China, aboard a container ship sailing under a Panamanian flag. Federal agents continued the search and seizure of suspect shipments, finding $3 million of these superdollars on shipments across the U.S., including $700,000 in Long Beach, California. A man named Chen Chiang Liu, originally from Taiwan but with ties to North Korea, was also sentenced to more than 12 years in prison for the laundering of several millions of superdollars in Vegas slot machines. Fearing possible retribution, he declined to trade information about North Korea’s counterfeiting program in exchange for a lighter sentence. As such, investigators still do not know exactly how the North Korean government has obtained the exper-
tise, technology, and materials required to produce such high-quality counterfeits. Sales of the specific type of intaglio printing press used by the U.S. are highly restricted. Many experts believe that such a device had been operating in East Germany before it made its way to North Korea prior to the collapse of the Berlin Wall. The common counterfeiting practice of washing the ink from $1 or other low denomination bills and printing over them may account for the accurate mixture of cotton and linen in the superdollars. As for the ink, North Korea is able to purchase it from the same firm as the U.S. in internationally neutral Switzerland. Naturally, North Korea has never publically admitted a role in the counterfeiting of U.S. bank notes. Experts believe that the nation has two probable motives. The first aligns itself nicely with North Korea’s stated continued on page 6
News Briefs Made in Asia: All the news you’re missing Students from China add $5 billion to US economy Increased Chinese student enrollment in colleges and universities has contributed nearly $5 billion to the US economy in the 2011-12 academic year. Wang Huiyao, director of the Center for China and Globalization, noted, “the increase of global communication has driven the needs of talented people who are familiar with both cultures.” As bilingualism and multiculturalism become more highly rated skills, the attractions of studying abroad have risen drastically. Rahul Choudaha, Director of Research and Advisory Services at the World Education Services, acknowledges, “The rise of China as a contributor to the economies of many US institutions mirrors the increasing influence of China in the global economy.” There were 61,765 Chinese students enrolled in the US in 2003. By 2011, there were 192,029 students. The Open Door Report, published by the Institute of International Education, said that, “60% of US-bound Chinese students were indexed high in terms of financial resources.” Many international students, including Chinese students, are self-funded and pay full tuition, contributing enormously to university funds. Choudaha noted, “Public institutions have been facing budget cuts and many have been looking to recruit more self-funded students.” story by Libba King
Graphite tubes seized in busan alarm international security Hundreds of graphite tubes suitable for use in ballistic missiles were found in a Chinese ship bound for Syria while the ship was transitioning through the port of Busan, South Korea on November 15. The source of the cylinders is said to be a North Korean trading firm. The case is currently under investigation by the United Nations Special Committee. Thee possible implications of this incident for international authority in the region are significant. If North Korea and China’s involvement in the delivery of the weapons is proved, it will represent a direct challenge to UN authority. After North Korea’s testing of ballistic missiles in 2006, the UN imposed sanctions upon North Korea prohibiting its export of nuclear weaponry or technology. According to South Korean o5cials, North Korea has violated the UN sanctions multiple times in the past, but it has not been internationally prosecuted for these violations. Whether the UN will impose additional sanctions on North Korea or change its approach in the region in light of the recent incident remains to be seen. China recently encouraged its neighboring states to invest in nuclear nonproliferation projects and restarted talks with a new North Korean regime about denuclearization, positioning itself as a regional leader for peace promotion. Yet China’s alleged involvement in the recent shipment calls into question her commitment to past promise as well as future intentions. The final U.N. decision on the case will be made in December. story by Hye Yeon Park
Dalai Lama’s visit to Japan escalates tension in China-Japan Relations
Google’s history in China indicative of future trends
Japanese astronaut sets record for longest space walk
A 10-day visit to Japan by the Dalai Lama has fueled Chinese hostility toward Japan. Tensions have recently escalated between the two countries, particularly in light of a recent escalation of the Diaoyu/Senkaku Islands conflict. Labeling the Dalai Lama as a political exile, China’s Foreign Ministry spokesman, Hong Lei, condemned Japan for infringing upon China’s internal affairs. He emphasized China’s intentions to oppose any international movement in support of the Tibetan leader-in-exile’s secessionist activities. During his November 4th visit, the Dalai Lama delivered a speech criticizing China’s ethnic policy and territorial sovereignty in front of the Japanese Parliament. His speech gained the Parliament’s favor; reportedly, several participants even bantered about forming an official coalition to support Tibetan independence. Analysts have speculated that the Dalai Lama has deliberately employed the Sino-Japanese territorial dispute to gain Japanese support for his cause, a tactic arguably corroborated by his usage of the Japanese name- Senkaku- for the disputed islands. The international community is concerned that the recent escalation of tension may hurt the prospect of diplomatic talks between China and Japan and methods to resolve the issue of the disputed islands through nonviolent means. story by HyeYeon Park Throne awaiting the Dalai Lama in Nechung Lhasa Municipality. John Hill, January 8, 2007. (photo taken in 1993). GNU Free Documentation License.
On January 27, 2006, Google China went live with great hopes and expectations. Almost seven years later, the search engine’s foothold in China has dropped to a mere 4.72% of China’s Search Engine Traffic Market Share. Tensions between the company and the Chinese government have plagued Google’s operations. The company was unwilling to install any functions on its website applications, such as Gmail or Picassa, which might share personal user data with the Chinese government. Similar logic at the leadership level led to Google China restricting Chinese employee access to its production code base, further limiting possibilities for cooperation and innovation and hurting its relations with China. Despite experimental concessions to China’s demands and a continuing desire to be flexible within the country’s cultural norms, Google China has suffered a serious market value drop, first seen in the poor reception of the Google Maps App and then in the company’s stock value. Between Q2 and Q3 of this year, the Maps App lost half of its market value despite no outstanding change in the software. Google’s failure in China seems to reflect a nationalistic inclination of the Chinese to use domestic search engines. The three most popular search engines, all of which are Chinese, hold almost 90% of the market share. American search engines hold about 5.5% of this market in total. Although Google has near universal control of the search engine market elsewhere in the world, its strategy for market domination has been unexpectedly ineffective in China. story by Diana Macguire
On November 1, 2012, Japanese space-flyer Akihiko Hoshide, accompanied by NASA astronaut Sunita Williams, began a spacewalk outside of the International Space Station to repair an ammonia leak that originated in the orbiting lab’s cooling center. Hoshide, along with Williams, was able to replace a vital power unit over the course of two spacewalks in late August and early September. The success of their mission must be seen in relation to the time it took to complete. Hoshide’s four month mission set a new record for the number of spacewalks performed by a Japanese astronaut, the total time of which was 21 hours and 23 minutes. The previous record, held by Soichi Noguchi, was 20 hours and 5 minutes. In addition to repairing the ammonia leak on the International Space Station, Hoshide ran several experiments—including raising a school of killifish and discharging several small satellites into space—in Japan’s Kibo Laboratory module. No one can say for certain what lies ahead for the now legendary Hoshide; the International Space Station has not released any information suggesting that he will be involved in future missions. Hoshide returned to Earth on November 19 to his country’s praise and adoration. He humbly tweeted before undocking, “Thanks to all of you for your support. I’m glad I was born on this beautiful planet Earth.” His experience is a testimony to Japan’s strong position in international cooperation for space exploration. story by Diana Macguire
ASEAN nations propose new regional trading bloc
The Association of Southeast Asian nations announced a new trade pact, the Regional Comprehensive Economic Partnership, which would include China and other major regional trading partners, but not the United States, on November 20. The founding nations, all ASEAN members, solidified the agreement at the close of the ASEAN summit meeting in Cambodia. This new coalition is seen by analysts as a potential rival to the Obama administration’s Trans-Pacific Partnership, a similar trade initiative that is part of the ‘pivot to Asia’ and excludes China. Some see this partnership as a means of ‘containing’ China’s economic dominance in the region. A key issue of contention for the Regional Comprehensive Economic Partnership is the issue of the South China Sea territorial dispute: Singapore, the Philippines, Brunei, Indonesia, and Vietnam have contested China’s position in the area. Similarly, other Asian countries have often voiced concerns over China’s intervention in the economies and politics of countries such as Cambodia and Burma.
Aki Hoshide exposes a photo of his helmet visor during the mission’s third session of extravehicular activity (EVA). photo courtesy of NASA
Obama becomes first president to visit Burma
Barak Obama became the first sitting president to visit Burma, a country which has historically had a problematic relationship with the United States, on November 19. This visit was significant for several reasons. It marked the first post-election trip taken by the newly re-elected president; that Obama chose Asia, and more specifically, this country to visit points to the continuing importance of the ‘pivot to Asia’ in American foreign policy. To some observers, the visit represents a continuation of American attempts to draw smaller Asian nations outside of China’s influence. In a speech at Yangon University, Obama was cautiously optimistic about the country’s recent progress. He cautioned about continued difficulties regarding reform and human rights issues, notably with regards to the Muslim Rohingya minority. At the same time, he praised the achievements of Aung San Suu Kyi as well as that of the new government direction. The U.S. has just recently removed trade sanctions on Burma. On the Burmese side, Obama’s visit represents a new level of confidence for the government, according to local historian U Thant Myint-U. Protestors often referenced America as a bastion of democracy in symbolic criticism of the then-autocratic government; before the new regime, speaking of the United States could be grounds for imprisonment. That the government is now confident enough to allow and organize an official visit of the president of the United States reveals the depths of the country’s about-face. Obama was greeted with both official and public fanfare; outside the university where he spoke, a former political prisoner held up a sign reading, “Welcome Americans… We need and want democracy. Do help.” The U.S. president’s visit signifies possible increased future cooperation between the two countries in economic and human rights issues. story by Liz Chen
Obama meets with Myanmar’s president Thein Sein. photo courtesy of www.whitehouse.gov
Politics Made in Asia: All the news you’re missing
New East Asian Leaders fuel poor Korea-Japan relations continued from page 1 which would likely deny, downplay, or omit mentions of Japanese war crimes during the occupation of Korea and the Second World War. He has denied the existence of Korean women enslaved by the Japanese as “comfort women”, a euphemism for sexual servitude. More broadly, he has stated that Japan should re-think its 1995 apology for war suffering. These factors help explain Park Geun-hye’s unwillingness to meet her counterpart. The daughter of South Korea’s longest-ruling dictator, Park Geun-hye was elected as president of South Korea on December 19, 2012. She ran on a campaign of stability and conservative action with regards to the economy and North Korean provocations. In the economic sphere, she promised cautious reform of the chaebol in order to address deepening inequality. The chaebol are family-run conglomerates which had been supported by the South Korean state as part of their economic development model, but have been increasingly contested by civil society for deepening inequality and for the decay of traditional morality. Regarding foreign policy, her opponent, Moon Jae-in, had promised a return to the Sunshine Policydiplomatic overture, investment, and aid- towards North Korea. Park Geun-hye proposed a more wary approach, but declared herself willing to consider non-politicized humanitarian aid and a meeting with the new North Korean leader, Kim Jong-un. If Park Geun-hye’s stance on North Korea is favourable towards dialogue, she holds a tough, nationalistic stance regarding the Dokdo/ Takeshima island dispute. In sum, the current diplomatic low is the result of two nationalistic candidates seeking to better their regional economies- sometimes in zero-sum fashion- as well as hold on to rival territorial claims which are reviving deep historical tensions. That Shinzo Abe is so outspoken about his controversial stance on these historical issues can only exacerbate the current situation. At the same time, several economic and foreign policy issues would benefit greatly from a concerted South KoreaJapan policy. In the economic realm, coordinating Japanese monetary policy with the region would help prevent hostile tit-for-tat devaluations. Regarding foreign policy, a revival of the intelligence sharing agreement floated in June 2012 would be mutually beneficial. Opportunities for such bilateral ties given the two candidates’ stances are at an alltime low. And yet, they may provide South Korea and Japan the tools necessary to revive their economies and prevent North Korean escalations, a threat for both countries.
Japanese Prime Minister Shinzo Abe. Photo courtesy of wikimediacommons.
Friendship trumps human rights concerns in US-Cambodia Summit
Obama meets with leaders at the US-Cambodia Summit. photo courtesy of whitehouse.gov
Alexandre Mason-Sharma Staff Writer November closed with the 21st annual Association of Southeast Asian Nations (ASEAN) summit hosted by Cambodia in its capital Phnom Penh. The topics of discussion, from trade to security, are of vital import to the region’s development. The conference was attended by a U.S. delegation which included President Obama, Secretary of State Hillary Clinton, and Secretary of Defence Leon Panetta. This marks the first time a sitting U.S. president has visited the small Asian nation which borders Thailand, Laos, and Vietnam. The goal of this visit, given the Obama administration’s strategic pivot towards Asia, was to foster ties with a nation amidst growing regional tensions. However, serious questions exist about the legitimacy of Prime Minister Hun Sen’s government, and the morality of strengthening relations between the two nations. After decades of civil wars, foreign invasions, and a genocide in which millions of Cambodians have died,
the nation currently exists as a constitutional monarchy with Prime Minister, and former Khmer Rouge commander, Hun Sen holding almost continuous office since 1985. Despite popular elections, universal suffrage and international pressure, corruption at high levels of government is endemic, and political oppression and violence against journalists, activists, and citizens is common. It therefore came as a surprise when U.S. defense secretary Leon Panetta met personally with Tea Banh, Cambodia’s minister of defense, to discuss the expansion of a counter-terrorism training program by U.S. special forces, despite no evidence of any Al-Qaeda or other terrorist group activity in Cambodia since 2003. In addition to the expansion of the battalion sized program, the U.S. has also held joint military exercises with Cambodia. Major-General Hun Manet, the Prime Minister’s eldest son, serves as a deputy commander within the nation’s military. The advanced military training of a Cambodian counter-terror unit in a nation without terrorists is unusual. That this unit would be under the direct
command of a member of a family with a history of human rights abuses is cause for concern. Moreover, this is by no means an isolated act. The US government has shown an increasing interest in fostering closer military ties with other Southeast Asian nations with less than stellar human right records such as Indonesia and Burma. The fear is that in its rush to win over potential allies in what is forecasted to become a region of supreme global importance, the US is giving little thought to the domestic nature of the polities it is engaging with. US support of oppressive regimes for strategic reasons harms its credibility as leader of the free world. Supporting Hun Sen, and leaders like him may contain the future rise of China or prevent the spread of regional terrorism, but the costs to American integrity are high, and as the US begins to mount a more active role in the region, perhaps we should spare a thought to how ordinary people in these nations and not just their politicians will be affected.
Japan: Shale Gas, Nuclear Disasters, and Upcoming Elections Hana Rudolph Staff Writer Since the disasters of March 2011, when three reactors at the Fukushima Nuclear Power Plant went through full meltdowns from the shock of a 9.0 earthquake off the coast of Japan, much of Japan’s populace has been actively engaged in protests against the continued commercial usage of civilian nuclear reactors. The consequences of the nuclear incident, assessed to be Level 7 (the maximum number) on the International Nuclear Event Scale, are still detectable in the form of the high levels of radioactive particles that remain in the atmosphere. Moreover, though there were no immediate deaths from radiation exposure, predictions for cancer deaths in the region have grown as high as 1,000 people. This is an extremely significant development for a country that has already struggled with, and been marked by, the cancerous aftermaths of the atomic bombs dropped on Hiroshima and Nagasaki. As a result,
statistics show that more than 80 percent of Japanese are now anti-nuclear. The Japanese government and relevant corporations have expressed efforts to find alternative sources of energy; shale gas has been a recent consideration in this respect. Indeed, the shale gas revolution in the United States has inspired Japan to investigate the potential of shale gas as an energy source in Japan. As of now, Japan has begun purchasing shale gas at U.S. market prices, and hopes abound for the continued exploration of non-conventional energy sources. However, this is a dayby-day attempt to tackle the energy problems that the nuclear rejection has caused, and the instability of these tentative solutions has raised serious concerns. In light of this issue, much of the electoral debate between the two primary parties—the just-defeated Democratic Party of Japan (DPJ) and the newly elected ruling party, the Liberal Democratic Party (LDP)— was focused around the question of nuclear energy. The dissolution of the lower house of Parliament, which constitutional-
ly requires national party elections within forty days, was called as a result of heavy LDP pressure on the DPJ government. While elections had not been scheduled until the summer of 2013, it was considered largely advantageous for the LDP to precipitate the elections, because of the DPJ’s lack of popularity. The LDP’s rather pro-nuclear stance was seen as a political risk in these elections; this turned out to be unfounded, however, as they won a landslide victory. In its pre-election pledges published on November 27th, the DPJ announced its commitment to end nuclear energy in the 2030s. The LDP, on the other hand, has made public its stance to continue nuclear energy usage for the sake of the Japanese economy and standing within the global market. Indeed, the LDP has vowed to restart all reactors within the next three years. It remains to be seen whether the DPJ will be able to overcome Japanese civil society’s widespread mistrust of nuclear energy.
An aerial view of nuclear reactor 1 of the Fukushima power plant that was effected during Japan’s March 2011 disaster. Photo courtesy of wikimedia commons.
Made in Asia: All the news you’re missing
Plastic chemicals found in Chinese liquor, industry feels negative effects
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Ales sand ra F ellon i
After recent inspection by the Hunan provincial quality supervisor, liquor produced by the Chinese company JiuGuiJiu was found to contain excessive levels of plasticizer. In a statement released to the Shenzhen stock exchange, the company said that it is complying with requests from quality control to strictly monitor its distribution and packaging processes in order to identify and remedy the issue. The Xinhua News Agency reported that some drinks produced by JiuGuiJiu were discovered to contain three times the permitted level of dibutyl phthalate, a chemical found in plastic containers and often used to flavor drinks. On the day of the news report, the company stated that its products met national standards and that there was no health risk posed to consumers. “The company continues to st re ng t he n its quality supervision infrastructure in order to produce safe and high quality products for buyers,” JiuGuiJiu, in a statement released to the public, said. “At the same time, we extend our sincere apologies to consumers and investors
over this recent issue.” Inspections of JiuGuiJiu product by the General Administration of Quality Supervision, Inspection and Quarantine found that some samples contained as much as 1.04 milligrams of dibutyl phthalate for every kilogram of the beverage. The health ministry has set a 0.3 milligrams per kilogram limit on this chemical. However, according to the China Alcoholic Drinks Association, tests reveal that most Chinese liquor products contain plasticizers, with an average of 0.537 milligrams per kilogram. The same agency stated that China’s alcohol industry is currently discussing national limits on plasticizers contained in alcoholic beverages. On November 21st, following news of JiuGuiJiu’s contaminated beverages, shares of stock in liquor fell in Shenzhen and Shanghai. In Shenzhen, share price of China’s largest liquor maker, Wuliangye Yibin Co., fell by 4.7 percent to 27.46 yuan. This drop in share price marks the lowest price for Wuliangye Yibin Co. stock in more than two years. Additionally, shares in Jiangsu Yanghe Brewery Joint-Stock Company, China’s third largest distiller, dropped 3.4 percent to 96 yuan. On the Shanghai trading scene, shares in Kweichow Moutai Co., the world’s second-largest distiller, dropped 0.6 percent to 217.29 yuan. Shares of JiuGuiJiu, owner of Xiangquan and Jiugui spirit brands, resumed trading on November 21st after a four-day trading halt. JiuGuiJiu stock plunged 10 percent in the a1ermath of the chemical incident, to a price of 38.54 yuan per share. The recent chemical debacle has unequivocally affected how consumers perceive the company. “It’s a blow to consumer confidence,” said Liu Hui, a Shanghai-based analyst at CSC Securities HK Ltd. “The whole sector will be under pressure in the short term.” The fall in share price for Chinese alcohol makers mimics the overall pattern of declining Chinese stock. The market is approaching the 2,000 benchmark index, which will have negative significance for investment in China. “The 2,000 level is an important gateway for investors,” said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co. “Once it’s approached, some money will buy on dips on expectations about possible government support. But there’s no big room for the index to go up either as there’s a lack of positive macroeconomic news.” story by Ari Multak
Anti-Japanese sentiment creates trouble for Toyota sales Angela Pyo Asst. Layout Editor Amid intense anti-Japanese sentiment among Chinese consumers due to the Diaoyu Islands dispute, Japanese car companies made a flashy showing and bold claims at the 10th China International (Guangzhou) Automobile Exhibition, China’s biggest auto event of the fall season. According to analysts, the decline of Japanese car sales in China has predated the Islands dispute. Intense competition in the largest auto market in the world had made it difficult for even Toyota, the largest car company in Asia. Once the Islands dispute began in September, the problems for the Japanese car companies were compounded. Widespread protest and boycott against Japanese products culminated in violence against Japanese cars, torched dealerships, and the beating of a Japanese car driver in Xi’an. Consequently, Japanese car sales plummeted in China, the largest auto market in the world. The combined sales of Japanese companies are 59% lower in October than that same time last year. Their market share also dropped from the 22% pre-Island dispute to the current 9%. However, Zeng Qinghong, general manager of Guangzhou Automobile Group Co. which operates joint ventures with Toyota and Honda, believes that the worst is over. While consumers are hesitating, Toyota has presented an aggressive and optimistic strategy to recoup its heavy fourth quarter losses in China. According to Namrita Chow, an analyst at IHS Autoart by Alessandra Felloni
motaive, such a push is necessary.”In 2013 Japanese brands will go all out to regain any lost ground encountered in the fourth quarter of this year ... This will mean new model launches, discounts and good service packages as well as an increased lineup of models on offer to consumers in China,” he concludes. Echoing this sentiment, Dong Changzheng, executive vice president of Toyota (China) Investment, said “There is no change in Toyota’s development plan in China,” at Guangzhou despite the opposition in China. “The plan” was for Toyota to move 1 million vehicles in China in 2012, which is 13% more than last year. Analysts now find this highly unlikely, but not for a lack of trying on Toyota’s part. Toyota showed 46 models at Guangzhou this year, using up 12.5% more exhibition space than last year. At the Auto Exhibition, Toyota’s head of China operations, Hiroji Onishi announced that Toyota would be unveiling 20 models in China over the next three years. Two brands would be independently launched by joint ventures FAW Toyota and Guangqi Toyota next year. Toyota will also be pursuing its “Cloud-Action” plan, which would include huge investments in the construction of what will be its largest R&D department in the world, just outside of Shanghai, in order to create more efficient energy saving technology for hybrid cars. Toyota hopes that these new energy cars will eventually make up at least 20% of sales in China. Other Japanese car companies, such as Honda and Nissan plan to launch more models as well and employ sales strategies unique to the situation in China. One such strategy is to insure cars against any damage, including anti-Japanese violence. This scramble reflects China’s importance. With China expected to account for 5% of global auto-market growth by volume between 2011 and 2020, according to McKinsey, and be one of the world’s largest markets for new-energy vehicles, no car company can afford to fail in China. The pressure is increased by the competition in the Chinese auto market. The longer Japanese car companies are out of commission, the more likely it becomes that their market shares will be lost to other companies, such as South Korea’s Hyundai. Without a resolution to the Diaoyu Islands dispute, Japanese car companies may continue to suffer through 2014. Chow puts it bluntly: “Growth for Japanese brands will depend on how quickly the two countries solve the territorial dispute peacefully.”
Anti-dumping duties on lighters lifted in China Ari Multak Business Editor The European Commission decided on November 27th to cease anti-dumping duties imposed on Chinese lighters, a ruling which came into effect on December 12th. The case against Chinese lighters was initially made on May 14, 2002, when the European Federation of Lighter Manufacturers claimed that imports of lighters produced in China violated anti-dumping laws; China vehemently denied the charges, but was faced with anti-dumping duties. BIC, a disposable lighter manufacturer located in France, recently filed with the European Commission to extend the anti-dumping measures imposed on China for another five years. BIC’s petition was denied. Xinhua News reports: “the EC said that Chinese lighter makers do not pose a threat to their counterparts in the EU, citing the fact that BIC’s pro5ts enjoyed its biggest surge on record this year.” According to Xinhua News, global annual sales of lighters amounts to 11 billion, about $4 US dollars. “Chinese lighter manufacturers, mainly based in East China’s Zhejiang and Central China’s Hunan provinces, said canceling the anti-dumping duty would benefit the whole industry,” reports Guangming Online. Currently, the industry exports mainly to Southeast Asia and the Middle East. “We will increase exports to Europe… because of the European market’s higher profit margins and large client base,” said Liu Junxiang, manager of Xingda Lighter Manufacturer Co. in Hunan. The new ruling in this anti-dumping case will specifically affect China’s industry for disposable pocket lighters. “Lighter manufacturers in Wenzhou, Zhejiang Province will be less affected, because they mainly produce mid and high-end refillable lighters”, said Huang Fajing, head of Wenzhou Lighter Producers’ Association. The European Union began its anti-dumping probe on Chinese producers of lighters in April 1990 and made a ruling in November 1991, meaning that the punitive measures against China have now been in effect for 21 years. In 2003, major manufacturers of lighters in China won an anti-dumping suit against the European Federation of Lighter Manufacturers. This victory marked the first time China came out on top when charged for dumping since the country joined the World Trade Organization in 2001. China’s Ministry of Commerce advises that the European Commission should avoid the overuse of trade remedy measures because of the potential negative impact on trade ties between China and countries within the European Union. The ministry also expressed the wish that the European Commission deal with other anti-dumping cases against China in an unbiased and just fashion.
Economics Made in Asia: All the news you’re missing
Rise in shadow banking as China favors private investment
China’s politically fueled economic transition
Kenko Ueyama Staff Writer
Ethan Woo Staff Writer
With China’s decreasing GDP growth, the Chinese government is turning to private investment to rejuvenate its economic growth. Local governments are eagerly inviting private investors to fund local projects, as they themselves face decreasing fiscal revenue and rising debt. In the third quarter alone, private Chinese investors have poured nearly $50 billion worth of funds into local government projects. Sichuan,Guandong, Zhejiang, Hubei, and Wuhan are among the provinces in which local governments have introduced policies to support such private investments, and more are turning to private investments as the economy deteriorates. Private investment at first seems like a reasonable and promising method for revitalizing the economy. After all, Mitt Romney stated during his 2012 election campaign, “A temporary funding package can give an economy a boost, but it can’t sustain an economy - not for long. It can’t pull the whole cart because at some point, the money runs out. We’ll couple aid with trade and private investment and partnerships to empower individuals, encourage innovators and reward entrepreneurs.” However, is such private investment the right alternative for China? The Chinese economic stimulus package injected US $586 billion into the Chinese economy over 2008-2010, and was considered by many to be successful due to China’s subsequent GDP growth. The success of the past stimulus suggests that another stimulus package would be a viable alternative to large amounts of private investment. More importantly, encouragement of private investment brings another problem unique to China’s economic system: shadow banking. Shadow banking involves financial intermediaries creating credit across the financial system. However these intermediaries are not subject to regulatory oversight. Due to this lack of regulation, these institutions can excessively leverage their investments. By taking more risky investments, there is a larger chance that shadow banks would default on its depositors. In the context of China, however, shadow banking is a problem that is much more serious than may be implied by its definition. In China, “more than 90 percent of the nation’s 42 million small businesses are unable to get bank loans, while such investments offer returns at least several times higher than deposits.” This makes shadow banking extremely
The 18th National Congress wrapped up on November 15th and with its conclusion, China overhauled its leadership. Out went President Hu Jintao and Premier Wen Jiabao; Xi Jinping and Li Keqiang stepped into their respective positions. While these changes are not yet official, they are expected to be rubber-stamped at the 12th National People’s Congress, which is scheduled to take place in early March 2013. One of the main issues that has been highlighted during this transition is the type of change this new leadership will bring to the country’s economy. The recent slowdown in the nation’s GDP growth has stirred expectations for the new leadership to rejuvenate the country’s markets. China is vulnerable to fluctuations in foreign demands for goods due to its GDP’s heavy dependence on exports. This has recently hurt China’s economic growth as foreign demand for goods has been stagnating due to the worldwide recession since 2008. Nonetheless, since 2009, China’s exports has consistently rose to become 31% of its GDP in 2011, while domestic consumption fell from 44% to 35.4% from 2002 to 2011. While exports rose 11.6% in October 2012 compared to a year ago, China is still susceptible to worldwide shocks. The looming fiscal cliff in the United States also presents itself as a threat to China’s economic stability, as the US is China’s second largest trade partner behind the European Union, accounting for around 20% of Chinese exports. Even if the fiscal cliff is averted through a bipartisan solution, repercussions for the worldwide economy could still be foreseen. China’s leadership transition thus comes at an opportune time for the economy. Two main priorities for the economy have been articulated as 1) transitioning from a manufacturing economy to one of innovation and 2) shifting the economy’s driver from exports to domestic consumption. As seen from its falling percentage of consumer common in China, and lending from shadow banking-system totals as much as $2.4 trillion, about one-third of China’s official loan market. In China, a common process involves Chinese banks collecting capital from retail investors and calling the loans “wealth management products”, leaving them off the balance sheet. Banks themselves are often directly involved in buying or issuing a lot of bonds and shadow bank debt. Such off balance sheet activities allow lending institutions to lend more than the typical commercial banks
demand and its rising export percentage, China must change its strategy and promote consumer and domestic spending in order to prevent itself from becoming over reliant on export-based growth. This is a prudent thing to do as by looking at the events of the past few years, one can see that the intertwining of the world economy has made export-based countries highly susceptible to the demand of other countries. Thankfully, Xi and Li are both pro-reform. Li in particular has been a staunch advocate for reforming China’s economy and focusing on domestic consumption. In October 2010, Li stated that it was important for China to achieve a modern industrial structure in order expanding its domestic consumption. This could be achieved through industrialization and urbanization, according to Li. Technological and scientific innovation were also two keys for modernization and increasing local demand. Even earlier, in a February 2010 speech, Li stressed the importance of changing China’s economic structure in order for the country to continue its growth by boosting domestic consumption. Xi is
also no stranger to economic reform. A son of an economic reformer, Xi is now faced with tough choices. The Resolution of the 18th National Congress stated that one of China’s primary goals would be to develop domestic demand by prioritizing service and other industries. However, shifting all the focus away from export goods would be unreasonable as it still account for a large portion of China’s GDP. China can still undertake large investment projects in order to artificially stimulate demand. These projects would have to take place in lower-tier cities though, as China’s main cities have become oversaturated with construction projects, resulting in rising prices. Slight changes in reserve and interest rates could also help to stimulate domestic consumption. Furthermore, by nurturing and growing the middle class, China would be able to attract more foreign investment, which would help decrease the reliance on exports. In its current state, China is in need of economic reform in order to insulate itself from lagging international demand. But with Xi and Li, China has two leaders who seem to be suitable for the job.
due to lack of supervision, thereby having a higher risk of default. Shadow banking in China has mostly been concealed, and the encouragement of private investment will offer a “rare peak” of such activities. The prevalence of shadow banking in China explains the large risks involved in boosting private investment. Without strict regulatory supervisions enjoyed by commercial banks, shadow banking has significant repayment risks. Such lack of regulations could lead to defaults in thousands of investment projects, causing
turmoil in the Chinese financial system. Along with shadow banking risks, the falling tax revenue and land sales combined with rising expenses and interest costs from previous borrowing could pinch cities and counties. The risks associated with the prevalence of shadow banking in China, and the alternatives such as the stimulus package that proved to be successful in 2008 brings to question how effective encouraging private investment will be.
Chinese Monetary policy impeded by conflicting goals and agendas Ethan Woo Staff Writer Ever since Deng Xiaoping thrust China onto the international stage, Chinese policymakers have long dreamed of the day when the Yuan would replace the Dollar as the world’s dominant currency. Starting in 2009, Chinese leaders began to loosen controls over their currency in pursuance of this goal, as well as encouraging its use in trade settlements and by financial institutions. However, despite decreasing their control of the Yuan’s flow into foreign markets, Chinese policy makers remain wary of allowing the value of the Yuan to rise, which limits its ability to compete with the Euro and Dollar that can be converted to other currencies without government interference. In early November of 2012, after allowing the Yuan to appreciate for weeks, Chinese government officials capped the value of their currency against the dollar, breaking their pledge to allow market forces greater control the currency’s fate. While beneficial to Chinese exporters, this will harm the investors Beijing has tried to use to help push the Yuan as a global currency, as investors had bet on the Yuan’s continual rise. This move crystallizes the conflict in Chinese monetary policy: torn
between Policymaker’s desire for global to avoid the destabilizing effects of high prestige for the Yuan, and their desire to inflation which might slow down China’s control the currency to the advantage of growth and lead to civil unrest. Premier exports, especially in US markets. Wen has defended this policy emphasizing To understand this conflict it is necessary China’s devotion to trade balance rather to understand why China pursues the than surplus, and gradual appreciation of monetary policy it does. Saying that China the Yuan. He suggests that, “China’s efforts has a ‘fixed’ currency is something of a to maintain a stable yuan-dollar exchange misnomer, as Chinese officials instead rate [despite pressure to devalue] during allow the Yuan to fluctuate in value the 1998 Asian financial compared to the crisis helped the world.” dollar within a ‘band’ By keeping its currency of permissible value. stable, he explains, China Since 2005, the value of the value of the Yuan was able to maintain the Yuan has actually confidence in its currency should be anywhere appreciated about and promote financial from 20-30% higher 6%(10% in China stability, which prevented when adjusted to the crisis from having inflation). Most critics of this policy focus wider repercussions. on how Chinese currency manipulation Critics of Chinese monetary policy creates a balance of trade problem for the claim that the value of the Yuan should US, by keeping Chinese products cheaper be anywhere from 20-30% higher. They than US products. Since the Yuan is fixed also suggest that one of the side-effects of to the dollar, as Chinese goods increase in Chinese currency policy is low-interest US markets, the Yuan does not appreciate rates due to lack of competition between as much as it would if both currencies banks, and capital controls that limit the were floating. However, most Chinese flow of Chinese capital outside of the policymakers instead cite their desire country. Facing this repressive financial
environment, and fearful of investing in China’s highly overvalued housing market, many Chinese have found ways to take their financial capital out of the country to find better markets. Over the summer of 2012, it is suggested that as much as 80 billion dollars of capital flowed out of the country illictly through various means. While these outflows probably stopped in September, it demonstrates acute problems in China’s financial sector, and a strong financial sector in China is key if the Yuan is to compete with other currency’s internationally. If the Yuan is to compete with the dollar as an international currency China will need to address both the domestic concerns of investors seeking better financial markets at home as well as the worries of investors abroad wary of currency manipulation. Recent evidence suggests China still has a long way to go to find a viable middle ground between its dual goals of currency stability and international reach for the Yuan. Its continued vacillation will only further dissuade investors from placing their faith in the Yuan instead of the dollar as a store of their wealth.
Oddities Made in Asia: All the news you’re missing
Fashion-forward grandpa and Chinese Honey Boo Boos
Juli Gittelman Staff Writer
Generally speaking, there are two golden ways to advertise one’s product today: sexualized images or comedy. A recently opened Chinese fashion store called Yuekou and an auto show in Wuhan, China are prime examples of the industry’s use of both these methods. In China, as well as the US, auto shows are often accompanied by models in bikinis, providing eye-candy for many viewers and thereby, advertisers hope, increasing desire for the cars. Due to the scantily-clad m o d els, many Chinese netizens refer to auto shows as “boob shows,” but this terminology can make a person rather uncomfortable when directed at the 2012 Chutian Automobile Culture Festival, which kicked off November 16 in Wuhan. The show shocked some viewers and may have crossed the line into downright inappropriate territory by featuring a number of little girls strutting their stuff in fur boots and bikinis. Is it cute, or just creepy? Is it, like many beauty pageants in the US claim to
be, a lesson in confidence, or is it instead a harmful sexualization of young girls? On the completely opposite end of the spectrum one finds Liu Xianping, a 72 year-old Chinese man who has been posing in women’s clothing for Yuekou, a closing store opened by his granddaughter and four other recent Chinese college graduates. Chinese netizens were immediately taken with Liu, praising him for his great figure and slim legs; the pictures have also been circulated on social media worldwide. In an interview, Liu’s granddaughter revealed that the modeling gig came about after Liu gave advice about the mixing and matching of the clothing, and many of the looks in the photos are actually his idea. Little girls in bikinis and cross-dressing grandfathers Even before the over- advertise fashion. photos courtesy of Yueko and whelming praise, Liu www.offbeatchina.com via Weibo. was hardly worried about public percepcross-dressing grandfather are tion, stating that he was old two advertising methods that with nothing to lose, and only would have been unheard of a cared about being happy. In few short decades ago in China, a country with comparatively but the country’s rapid economconservative family ideals, Liu’s ic development has, inevitably, modeling performance could also spurred numerous social point to a growing openness transformations. For better or towards non-heteronormative worse, there will certainly be gender roles. more changes to come as China Little girls in bikinis and a continues to evolve.
A lesson in sarcasm: embarrassment at Chinese newspaper People’s Daily
Kim Jong Un waves to his fans as The Onion’s Sexiest Man Alive. photo courtesy of The People’s Daily.
Juli Gittelman Staff Writer Humor is one of the hardest things to translate cross culturally, and this could not have been more evident when People’s Daily, a state-run Chinese newspaper, published an article November 27th, honoring Kim Jong Un for being named Sexiest Man Alive by satirical news website The Onion. With Western media so bereft of anything positive about North Korea, one can certainly imagine why China would want to emphasize something nice finally being said about their neighboring communist country’s leader. It’s too bad, then, that this nice thing was not meant to be
taken seriously. Completely missing the sarcasm pervasive throughout all of The Onion’s stories, the People’s Daily published not one, not two, but 55 photos showering praise and admiration on North Korea’s top leader for the dubious honor of being named The Onion’s Sexiest Man Alive. The Onion, basking in the glory of what may become one of their most legendary fake stories, posted an update on the article with a link to People’s Daily, praising them for their “exemplary reportage.” While The Onion says it did not intend to fool the People’s Daily, the prank has certainly caused a good deal of embarrassment for the Chinese newspaper, which, after their mistake had been pointed out by numerous Western media outlets, has now removed the article from their site.
Even more embarrassing than this particular blunder is the fact that it is not the first time a state-run Chinese newspaper fell victim to The Onion’s ruthless sarcasm. In 2002 the Beijing Evening News published a story from the Onion about how the US Congress was demanding a new building under the threat they might leave Washington DC. Even though China has twice misconstrued The Onion’s satirical humor to humiliating results, it is not the sole foreign nation to have done so. In September of this year, Iran’s semi-official Fars News Agency was fooled by an article that claimed Iranian President Mahmoud Ahmadinejad was more popular among rural white Americans than President Obama. Oops. In the future, perhaps stories should have more than one (reliable) source before publication. Hopefully these incidents serve as a lesson to foreign media outlets who might find an interesting story or two on The Onion. Because of China’s special relationship with North Korea, it is understandable that they would want to help portray a positive image of Kim Jong Un, but it’s still surprising that such a large and professional newspaper as the People’s Daily could be fooled so easily. Breaking news: The People’s Daily later removed the article and refused to comment on the blunder. Proud of their accomplishment, The Onion directed their readers towards the People’s Daily website saying, “Please visit our friends at the People’s Daily in China, a proud Communist subsidiary of The Onion, Inc. Exemplary reportage, comrades.”
Exploring East Asia
Monkeys and hiking Emeishan Liz Chen Staff Writer Last year, I hiked Emeishan. I’d tagged along on my laowai friend’s version of chaosheng, a pilgrimage to one of the sacred mountains. China has a lot of these sacred mountains, each with their own story. Emeishan is one of the Four Sacred Mountains of Buddhism, not to be confused with the Five Great Mountains or the Four Sacred Mountains of Daoism. It is traditionally thought to be the seat of the Puxian bodhisattva, who is associated with some of the earliest records of martial arts in China. It’s located in Sichuan province, quite close to the gigantic Leshan Buddha and the Jiuzhaigou national park. Today, Emeishan is known for its golden statue of Puxian and the view of the sunrise at the peak. The mountain is about 3000 meters high (10,000 ft. for non-metric users), populated with a speckling of villages and roughly 76 temples. During our two-day hike, we passed endless misty cliff faces, picture-perfect bubbling streams, densely quiet forests and stately temples. The mountain is also home to an astonishing number of what we learnt to be Tibetan macaques, monkeys who have adapted well to the tourist influx and are expert at literally shaking down passersby for food. It’s funny to watch until it happens to you. You can avoid the monkeys by taking a bus and then a cable car up to the summit (it is a major tourist site after all), but if you have the time I would recommend walking it. The chance to get increasingly lost over the course of two hours after losing your map, eventually stumbling on an abandoned Buddhist cemetery, is, while creepy, not to be missed. Similarly, neither is the experience of bargaining for beds in a monastery, then waking up earlier than the sun and panting your way up the first steep incline of the day, only to be passed by a grandfatherly figure carrying a basket larger than he is. It is a fairytale sort of China, alternately idyllic and surreal, peaceful and terrifying. (i.e. monkeys. I can’t stress this enough.) Emeishan is a big tourist destination today, with a lot of the drawbacks that Chinese tourist sites have—megaphone wielding guides, same-hatted tour groups, and aggressive vendors. Taking the proverbial scenic route takes some time and yields a little more hardship, but it avoids a lot of the aforementioned hassles and provides time for the reflection and appreciation that the mountain ultimately deserves.
Emeishan, one of the Four Sacred Mountains of Buddhism, is a peaceful hiking spot. The mountain is adorned with monkeys, a great view, temples, villages, and its famous golden statue of Puxian. Photo courtesy of Liz Chen.
Oddities Made in Asia: All the news you’re missing
North Koreans spend fake Franklins Edible Asia Frosty Caramel Frustrations Alex Lee Staff Writer
Photo courtesy of commons.wikimedia.org
Juli Gitelman Staff Writer Continued from page 1 anti-American, anti-Imperialism goals: to destabilize the US economy and fight US hegemony. The presence of these superdollars certainly detracts from international faith in US currency, but with international electronic and cash money circulation in the trillions of dollars, the total amount of superdollars in circulation, which analysts estimate to be between $15 to $25 million (some estimates do go up to several hundred million), hardly makes a dent. The second motive therefore seems more important, and is also supported by officials who have spoken with high-level North Korean defectors, including Hwang Jang Yop, a former Secretary of the Korean Workers Party and tutor to the late Kim Jong Il. North Korea is a nation badly in need of funds,
and printing their own US dollars is an easy way of purchasing food as well as missile parts for their nuclear program. Specialists say counterfeiting became especially important to North Korea in the 1980’s as the planned economy began to disintegrate, and again in the past few years after the disastrous devaluation of the country’s currency. More specific uses are harder to prove, though they certainly paint the North Korean government as a corrupt entity, a vision in line with Western perceptions of the nation. The fake bills have supposedly been used to keep the elite supplied with flashy foreign-made cars and liberal quantities of cognac. Counterfeiting is also believed to support many illicit activities on which many claim the North Korean economy depends, including methamphetamine production and ivory smuggling. While these counterfeiting activities and North Korea’s supposed in-
volvement in an international network of organized crime are enough to get one’s head spinning in a tangled web of conspiracy theories, they also present a diplomatic puzzle for US officials. How is the US government supposed to fight counterfeiting in a nation with which it has no direct diplomatic ties, and who has already stubbornly continued its nuclear program despite strong international condemnation and UN sanctions? Some have proposed the idea of simply discontinuing the $100 bill altogether; it is, after all, the most counterfeit bill (American readers might be aware that many US convenient stores and gas stations often refuse to accept hundreds for this reason) in addition to being used in other crimes like the drug trade. How the US decides to handle this issue in the future could have wide-reaching implications for diplomacy, organized crime, and international peace.
Words this Week
Mochi ice cream creator dies
—umma, mom —appa, dad —annyung, hi
—soo up, class —gwa je, homework
—soo ryum, gather opinions —man mool, every object —gyo tae, coquette or flirt
—otoshidama, allowance parents give kids on Jan. 1 —chanto, regularly, neatly, properly, carefully, punctually, etc.
—ichinen no kee, New Year’s resolution —oosooji, [the end of year] cleaning [the house] —gaman, patience
—shuukatsu, job hunting —kinroo kansha, appreciation of labor (11/23 in Japan)
—xian1sheng, mister or sir —jin3zhang1, nervous, tense —sha2, ‘What?’ (colloquial)
—qu1bie2, difference —wu2wei4, bland or tasteless —nan2guai4, no wonder
—ao1tu1, bumpy or uneven —kong1xue2lai2feng1, wind from an empty cave;
The six flavors of colorful mochi ice cream make a rainbow. Photo courtesy of Kimonobox.com
Danielle Stern Staff Writer Mochi ice cream: six flavors of ice cream balls wrapped in a thin layer of gooey rice cake. We all know and love this famed “Japanese” delicacy. The ice cream on the inside is bitingly cold, the mochi wrapping is chewy, and together, they transform into a treat that is both unique and delicious. However, the mochi ice cream loving community recently suffered a great loss. Frances Hashimoto, the most widely-credited inventor of mochi ice cream, lost her battle with lung cancer in early November at the young age of 69. Survived by her husband, two sons, and sister, Hashimoto remains a legend in the world of Japanese confectionery in the United States. Born in a World War II internment camp in Arizona, Hashimoto took over Mikawaya, her family’s confectionary business based in Los Angeles’s Little Tokyo district, in 1970. One day, she had the novel idea to wrap balls of ice cream in mochi, and soon thereafter the
company’s most well-known treat was brought to market. Some credit the invention to a South Korean company called Lotte, which claims that it first began selling the product in the 1990s, but regardless, Hashimoto is still an icon. But no matter which of these two parties first dreamed up this delectable indulgence, it’s important to remember that the Japanese themselves had no part in it. This $13 million-a-year business has become an American staple, making its products out of materials which are, contrary to popular belief, 100% sourced from the USA, not Japan. And what makes mochi ice cream even better, is that while you might typically have to hop on a flight to Narita to find some authentic Taiyaki, Yatsuhashi or any other Wagashi (Japanese confectionery), boxes of mochi ice cream can be purchased in scores at your local Trader Joe’s! So the next time you get your hands on one of these treats, eat up and remember to celebrate the life of Frances Hashimoto, mother of our beloved mochi ice cream.
When it’s so cold that I can see the steam seeping out of my mouth as I exhale in the confines of my apartment, my only source of warmth being my overheating laptop, I like to eat my stale Krispy Kreme doughnut from Char Mar and think back to better times. And by better times, I mean the times when I was this cold, but in Korea and in front of a street food stall that was selling my favorite winter street foods. Somehow, eating those delicacies always helped me ignore the fact that I could no longer feel my lips or fingers. One street food that holds a dear place in my heart is called bbopki. Bbopki is a hard caramel candy made from sugar and a little bit of baking soda that is sold in any metropolitan area in South Korea. It is usually flat, very brittle, and sometimes fashioned into a sort of lollipop on a stick. While not exactly filling, it is something good to get when you are standing at a bus stop or waiting to meet a friend, because it takes time to eat bbopki. It is not the kind of snack that you just mindlessly chow down on. Oh, no. Eating bbopki requires endurance and a certain skill. There is a reason why the snack is called bbopki. The word “bbopa” means “to pick out.” And imprinted into the brittle caramel are outlines of shapes, usually a heart or a star. The eater is supposed to cut out these little shapes as he or she eats the candy, trying not to break the design. And be warned, this feat is not for the impatient. That irritating but delicious snack always manages to break right down the center of the star or heart you’re trying to cut out, right when you think you’ve almost achieved your goal. However, if you manage to successfully break out the imprinted shape, you get another one on the house as recompense for all your hard effort! Now, technically, bbopki is not considered a street food exclusive to wintertime. However, I always enjoyed eating bbopki in the winter because the sheer pride I felt from getting that free bbopki – after painstakingly cutting out the shape with my numb fingers – always seemed to make my otherwise cold day a little warmer. Or, it could have just been heat from my anger over the candy not cooperating. But next time you’re in Korea and facing ungodly winter weather, try to find the food stands that sell this treat. It’s sure to make you happier, or at least warmer from frustration! Bbopki is a common snack sold in the streetsof any metropolitan area in South Korea. Here, a man makes some bbopki at his food stall by heating up sugar and a little bit of baking soda into the circles of the caramel snack.
The man presses hearts before the bbopki hardens and becomes brittle. Another popular shape imprinted into bbopkis are stars.
The goal is to be able to “bbopa” the imprinted shape. Bringing an unbroken shape back to the food stand will get you another bbopki on the house. Photos courtesy of BionicBites.com
Military Made in Asia: All the news you’re missing
New class of destroyers raise naval stakes
Philippe Mauger Military Editor
Pictures of a ship under construction, identified as the new destroyer class 052D, surfaced at a Chinese naval yard this August.The estimated year of deployment for China’s 052D class destroyers is 2014. This article lays out what the 052D means for China, cross-straits stability, and the broader implications for the regional balance of power now that more information on the ship is available. The 052D class improves on the 052C class currently in service, fielding a more powerful radar, a 130mm instead of 100mm gun, and a total of 64 vertical launch system cells (used to launch cruise missiles) to the 052C’s 48. This allows for greater anti-air coverage, which expands the range of action that PLAN submarines can safely operate in from air-based anti-submarine systems. Two hulls were spotted at China State Shipbuilding Corporation’s Jiangnan Changxing shipyard, fuelling speculation over the number of 052D ships being simultaneously built. Standard naval building procedure in China involves the construction of one or two hulls followed by testing of the subsystems before further construction, but Chinese military enthusiasts and Professor James Holmes of the U.S. War College have reported that up to ten such hulls might be in production at the same time. Mass production of ships is highly cost-effective, because workers become familiarized with their tasks and are more effective in reproducing the same subsystem multiple times; a RAND report on mass construction in the U.S. navy found that a 10% cost reduction had been achieved thanks to such techniques. In light of with reports on the mass-manufacture of China’s Type 022 Fast Attack Craft, mass production of a ship of such size would signal further improvements in Chinese navy-building capabilities. The fielding of the 052D will not radically alter the cross-straits balance of power. It will, however, force strategic adaptation by other regional powers. Tactically speaking, the 052D out-performs all Taiwanese models of comparable class. Strategically speaking, this should force Taiwan’s hand, leading them to abandon direct classto-class competition. Taiwan has already made moves to counter the mainland’s naval buildup through the deployment of heavily armed fast attack boats and the fielding of advanced anti-ship cruise missiles. The technical and logistical advantage that the mainland is now demonstrating through military projects such as the 052D will likely
Photo courtesy of Alessandra Felloni
accelerate this trend. Other regional powers- particularly those with conflicting naval claims with China such as Vietnam, the Philippines, and Japan- will need to counter the 052D’s capabilities. Japan in particular will not be left behind, having 40 fleet escorts (guided missile destroyers and frigates) to China’s 50; Japan’s Kongo class and the Atago class guided missile destroyers in particular sport high level technology. Vietnam will rely on lighter ships, such as its two Gepard-3
Rumble in the jungle:
New Cambodian tanks pose little threat Jack Hayworth Staff Writier Current relations between Cambodia and Thailand are rather tense. There have been multiple border clashes- notably in 2011- which caused deaths on both sides. The balance of power between both countries, then, is worth studying closely. Cambodia’s 2010 order of 50 to 60 T-55 main battle tanks from Serbia will, by now, have had the time to be incorporated into its fighting force. These were supposed to be supplemented by “many more”, in the words of Koy Kuong, the foreign ministry spokesman who discussed the deal back in 2010, although no purchases have so far been announced. What exactly do these old Soviet tanks bring to the table, and would additional units really alter the simmering conflict? The T-55 is a development of the Soviet T-54, and was produced by the thousands during the 1950s. It mounts a 100mm main cannon and sports two 7.62mm machine guns as secondary armament. As for range, its diesel powerplant will keep it running for over 700km when the conditions are right. Like most Soviet equipment, it is rugged and designed to be operated effectively by relatively poorly trained soldiers; training new T-55 crews should therefore not be an issue for the Royal Cambodian Army, especially if one considers the fact that T-55s are very similar to the Chinese Type 59 tanks that Cambodia already operates. These T-55s have been given modern ammunition and fire control technology by the Serbian military, and there is a possibility that they have been outfitted with explosive reactive armor, which can significantly increase a tank’s survivability. When compared to the rest of Cambodia’s rather outdated armor corps, it seems as though the T-55s could give the Cambodians much needed strength. These specifications are only “good”, however, when compared to the rest of Cambodia’s military. Thailand is far better equipped when it comes to armored warfare. They have far more modern tanks, including over 150 American M60 Pattons. The M60 has proven to be incredibly effective against T-55s in the past; so effective, in fact, that the Soviets designed the T-72 to combat the M60. Simply put, the M60 can out-shoot,
out-maneuver, and out-survive a numerically superior force of T-55s. Further pushing the balance of power in Thailand’s favour, the latter has ordered 40 T-84U tanks, with the possibility of ordering upwards of 150 more. If the M60 is bad news for Cambodian armor, the T-84 is catastrophic. It packs a powerful 125mm main gun, next-generation explosive reactive armor, and thoroughly modern fire control and optics systems. Those are the sort of options a T-55 operator can only dream about. So while the order of T-55s does strengthen Cambodia’s military, it really does not do much to combat the numerical or technological advantage of Thailand. One could argue that the terrain in southeast Asia does not lend itself to armored warfare, so open battles pitting both tanks against one another would be uncommon. This, while true to some extent, ends up tipping the scales further in Thailand’s favor. The T-55 was designed around the Soviet strategy of quantity over quality, and in large formations the T-55 would be a force to be reckoned with. Cambodia does not have nearly enough T-55s to overcome Thailand’s quality, nor the
frigates and its small but well-equipped Project-12418/Tarantul-5 missile frigates. The Philippines Navy will have the most trouble; while they have expressed strong interest in overhauling their naval forces, it remains to be seen what they will be able to acquire in the coming years. In summary, the region’s ability to cope with a rising Chinese navy will depend in part on the magnitude of China’s ability to simultaneously produce 052D class ships.
Staff Editor-In-Chief Lauren Bovard Managing Editor Jade Hsiao Editorial Director Jennifer Hui Chief-of-Staff Ellie Hong News Editor Liz Chen Politics Editor Paxon Wallace Economics Editor Diana Xu Business Editor & Fundraising Ari Multak Oddities Editor Lauren Bovard Assistant Oddities Editor Juli Gittelman EAS Corner Editor Jade Hsiao Military Editor Phillip Mauger
T-55 or Type 59 tank from the recently ended cambodian civil war at the war museum in Siam Reap, Cambodia. courtesy of www.wikimediacommons.org via Kyle Simound.
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Assistant Layout Editor Angela Pyo Timeline Editor Victoria Lee Staff Writers Henry Chen Tian Tian Chen Christopher Connelly Juli Gittelman Jack Hayworth Libba King Alex Lee Tae Kyoung Lee Alexandre Mason-Sharma Klay McGuire Aaron Nicholson Mizuha Ogawa Hye Yeon Park Angela Pyo Queenie Qiu Hana Rudolf Shawn Shin Danielle Stern Kenko Ueyama Sean White Lizzy Yang Chiaki Yamagami Ethan Woo Katherine Wu Treasurer & Speaker Series Chair Lauren Yeh
EAS Corner Made in Asia: All the news you’re missing
Shawn Shin Staff Writer
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Tian Tian Chen Staff Writer
EAS Corner Made in Asia: All the news you’re missing
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Made in Asia: All the news you’re missing
NEWS In order of appearance: Luo,Wangshu. “Students from China add $5b to US economy.” China Daily, November 17, 2012. Accessed November 18, 2012. <http://usa.chinadaily.com.cn/china/2012-11/17/content_15937711.htm> Kim,Hee-jin, AFP. “Graphite Tubes are seized in Busan.” Korea Joongang Daily, November 15, 2012, accessed November 26, 2012. <http://koreajoongangdaily.joinsmsn. com/news/article/article.aspx?aid=2962392&cloc=joongangdaily|home|newslist1> Kim, Young-jin, “NK Missile Parts Seized in Busan En Route to Syria,” Korea Times, November 14, 2012, accessed November 26, 2012. <http://www.koreatimes.co.kr/www/news/nation/2012/11/116_124720.html> Shengnan, Zhao. “China Opposes Support for Dalai Lama.” China Daily, November 14, 2012. Accessed November 20, 2012. <http://www.chinadaily.com.cn/china/2012-11/14/ content_15925253.htm> C.J., Henderson. “China Lodges Protest over Dalai Lama’s Japan Visit.” China Daily, November 6, 2012. Accessed November 20, 2012. <http://www.chinadaily.com.cn/language_tips/cdaudio/2012-11/06/content_15879929.htm> Millward, Steven. “Qihoo’s New Search Engine Surges to 10% Share in China, Google Drops to 4th Place.” TechinAsia, November 5, 2012. Accessed November 26, 2012. <http://www.techinasia.com/china-qihoo-baidu-google-search-engine-market-share-october-2012/>
«Asean Summit 2012.» Ministry of Foreign Affairs and International Cooperation of Cambodia. Accessed November 18, 2012, <http://asean2012.mfa.gov.kh/index. php?lg=en.> Whitlock, Craig. «U.S. expands counterterrorism assistance in Cambodia in spite of human rights concerns.» Washington Post, November 15, 2012. Accessed November 18, 2012. <http://www.washingtonpost. com/world/national-security/us-expands-counterterrorism-assistance-in-cambodia-in-spite-of-human-rights-concerns/2012/11/15/f2df3de8-2e59-11e2abff-7d780620a97a_story.html> «Cambodia Profile.» BBC News, Last updated November 4, 2012. Accessed November 18, 2012. <http://www.bbc. co.uk/news/world-asia-pacific-13006539> Central Intelligence Agency, «Cambodia.» CIA World Factbook. Last updated November 13, 2012. Accessed November 18, 2012. <https://www.cia.gov/library/publications/the-world-factbook/geos/cb.html.> Freedom House, «Cambodia.» Freedom in the World 2012. Accessed November 18, 2012. <http://www.freedomhouse.org/report/freedom-world/2012/cambodia> Rainsy, Sam. «Obama Should Stay Away From Cambodia.» New York Times Op-Ed, October 30, 2012. Accessed November 18, 2012. <http://www.nytimes. com/2012/10/31/opinion/obama-should-stay-away-fromcambodia.html> Kinnock, Gladys. «Cambodia’s Brazen UN Bid.» New York Times Op-Ed, October 16, 2012. Accessed November 18, 2012. <http://www.nytimes.com/2012/10/17/opinion/ cambodias-brazen-un-bid.html>
Millward, Steven. “Google Maps App is Lost in China, Loses Half Market Share in Q3.” TechinAsia, November 5, 2012. Accessed November 26, 2012. <http://www.techinasia.com/google-maps-market-sharechina-q3-2012/>
«Human Rights in Cambodia.» Human Rights Watch, last updated November 18, 2012. Accessed November 18, 2012. <http://www.hrw.org/asia/cambodia>
Levy, Steven. “Inside Google’s China Misfortune,” excerpted from In the Plex, Steven Levy, reprinted in CNNMoney by permission of Simon & Schuster Inc., April 15, 2011. Accessed November 26, 2012. <http://tech.fortune. cnn.com/2011/04/15/googles-ordeal-in-china/>
“2 Parties to Merge with Governor’s Anti-Nuclear Group; Your Party Snubs Ishihara.” The Asahi Shimbun. 27 Nov. 2012. Web. URL: http://ajw.asahi.com/ article/behind_news/politics/AJ 201211270050
Kyodo News. “Hoshide Back on Earth After Record Spacewalks.” The Japan Times, November 20, 2012. Accessed November 26, 2012. <http://www.japantimes.co.jp/text/nn20121119x3.html>
Aoyama, Naoatsu and Dai Narusawa. “The U.S. to Help meet Japan’s Gas Needs.” The Asahi Shimbun. 25 Nov. 2012. Web. URL: http://ajw.asahi.com/ article/globe/feature/shale/ AJ201211250025
Kyodo News. “Astronaut Hoshide sets Japanese Spacewalk Record.” The Japan Times, November 3, 2012. Accessed November 26, 2012. <http://www.japantimes.co.jp/text/nn20121103a7.html>
Goto, Shihoko. “Japan’s Post-Fukushima Nuclear Energy Conundrum.” World Politics Review. 13 Nov. 2012. Web. URL: http://www.worldpoliticsreview. com/articles/12 493/japans-post-fukushima-nuclear-energy-conundrum
Wall, Mike. “Astronauts Begin Spacewalk to Fix Space Station Cooling System.” Space.com, November 1, 2012. Accessed November 26, 2012. <http://www.space.com/18309-astronauts-beginspacewalk-space-station.html> Moe,Wai. “Obama Receives Warm Welcome in Myanmar.” The New York Times, November 19, 2012. Accessed November 25, 2012. <http://www.nytimes.com/2012/11/20/world/asia/obama-receives-warm-welcome-in-myanmar.html?ref=asia> Spetalnick, Matt, and Jeff Mason. “Obama to balance praise, pressure in historic Myanmar Visit.” Reuters, November 18, 2012. Accessed November 26, 2012. <http://www.reuters.com/article/2012/11/18/asia-obama-myanmar-idUSL1E8MI0OT20121118> Beech, Hannah. “Obama in Burma: U.S. President’s Landmark Visit Brings Hope, Criticism.” Time World, November 19, 2012. Accessed November 21, 2012. <http://world.time.com/2012/11/19/obama-in-burma-u-spresidents-landmark-visit-brings-hope-criticism/>
Conservative candidates elected in South Korea and Japan; bilateral relationship at a low point (In order of appearance)
Alpert, Emily. “Japan Sends Envoy to South Korea in Bid to Dial Down Tensions.” Los Angeles Times, January 4, 2013. Accessed January 4, 2013. <http://www.latimes. com/news/world/worldnow/la-fg-wn-japan-envoy-southkorea-20130104,0,3383711.story> Martin Fackler. “Ex-Premier is Chosen to Govern Japan Again.” The New York Times, December 26, 2012. Accessed January 4, 2012. <http://www.nytimes. com/2012/12/27/world/asia/shinzo-abe-selected-as-japans-prime-minister.html?_r=0>
Japan: shale gas, disasters, and upcoming elections
“Japan’s Ruling Party to Phase Out Nuclear Power.” Australia Network News. 27 Nov. 2012. Web. URL: http://www.abc.net.au/news/2012-11-28/anjapan-nuclear/4395782 Reynolds, Isabel and Takashi Hirokawa. “Japan’s Opposition Hosoda Calls for Restarting Nuclear Reactors.” Bloomberg Businessweek. 26 Nov. 2012. Web. URL: http://www. businessweek. com/news/2012-11-26/japan-opposition-s-hosoda-calls-for-restarting-nuclear-reactors Sieg, Linda. “Analysis: Japan Politics Could Fragment Further on Road to Two-Party System.” Reuters. 18 Nov. 2012. Web. URL: http://www.reuters. com/article/2012/ 11/18/us-japan-election-future-idUSBRE8AH0IS20121118 “Small Parties Join Push for Nuclear-Free Society.” Yomiuri Shimbun. 27 Nov. 2012. Web. URL: http://www.yomiuri.co.jp/dy/national/ T121126004153.htm. “Survey: LDP Remains the Most Popular Party / Ishin no Kai 2nd, while DPJ Sips to 3rd.” Yomiuri Shimbun. 17 Nov. 2012. Web. URL: http://www. yomiuri.co.jp/dy/national/ T121126004155.htm Zolbert, Alex and Yoko Wakatsuki. “Japan Dissolves Lower House of Parliament, Sets Stage for Elections.” CNN. 17 Nov. 2012. Web. URL: http://www. cnn.com/2012/11/16/world/asia/ japan-politics/index. html
BUSINESS Plastic chemicals found in Chinese liquor, industry feels negative effects
“Shinzo Abe.” The New York Times, December 27, 2012. Accessed January 4, 2012. <http://topics.nytimes.com/ top/reference/timestopics/people/a/shinzo_abe/index. html>
Wong, Stephanie (ed.). “Liquor-maker JiuGuiJiu Apologizes for Chemicals in Drink”. Bloomberg News, November 22, 2012. <http://www.bloomberg.com/ news/2012-11-22/liquor-maker-jiuguijiu-apologizes-for-chemicals-in-drinks.html>
Fackler, Martin. “Japanese Politician’s Visit to Shrine Raises Worries.” The New York Times, October 17, 2012. Accessed January 4, 2012. <http://www.nytimes. com/2012/10/18/world/asia/japan-opposition-leadershinzo-abe-visits-war-shrine-a-possible-message-toneighbors.html?pagewanted=all>
Boey, Darren (ed.). “China’s Stocks Decline Before Profits Data; JuiGuiJiu Slumps.” Bloomberg News, November 26, 2012. <http://www.businessweek.com/news/2012-11-25/ china-s-equity-futures-decline-before-industrial-profits-data>
“Chinese Press Urges “Hawk” Abe to Soften Stand on Foreign Policy.” BBC News, December 27, 2012. Accessed January 4, 2013. <http://www.bbc.co.uk/news/world-asia-20850188>
Vinicy Chan. “China Liquor-maker JiuGuiJiu Declines 10 percent: Shenzhen Mover”. Bloomberg News, November 23, 2012. <http://www.businessweek.com/news/2012-1123/china-liquor-maker-jiuguijiu-declines-10-percentshenzhen-mover>
Demick, Barbara. “Japanese Leader Wants to Revisit Apology for Wartime Suffering.” Los Angeles Times, December 31, 2012. Accessed January 4, 2012. <http://www.latimes.com/news/world/worldnow/la-fg-wn-japanese-leader-revisit-apology-20121231,0,874752.story>
Anti-dumping duties on lighters lifted in China
Sang-Hun, Choe. “Ex-Dictator’s Daughter Elected President as South Korea Rejects Sharp Change.” December 19, 2012. Accessed January 4, 2012. <http://www.nytimes. com/2012/12/20/world/asia/south-koreans-vote-in-closely-fought-presidential-race.html?pagewanted=all>
Global Times. “EU may lift duty on Chinese lighters.” Guangming Online, November 28, 2012. <http://en.gmw. cn/2012-11/28/content_5833556.htm>
Kim, Byung-Kook. “The Politics of Chaebol Reform, 19801997.” In Economic Crisis and Corporate Restructuring in Korea: Reforming the Chaebol, edited by Stephan Mark Haggard, Vonhyuk Lim, Euysung Kim, 53-78. Cambridge: Cambridge University Press, 2003. Powel, Bill. “Why South Korea is in an Uproar over Intelligence Sharing with Japan.” Time World, July 2, 2012. Accessed January 4, 2013. <http://world.time. com/2012/07/02/why-south-korea-is-in-an-uproar-overintelligence-sharing-with-japan/>
Friendship trumps human rights concerns in US-Cambodia Summit In order of appearance:
“EU to cancel anti-dumping duties on Chinese lighters.” Xinhua Net News, November 28, 2012. <http://news.xinhuanet.com/english/business/2012-11/28/c_132005257. htm>
“EU stops anti-dumping duties on Chinese lighters.” China Daily, November 29, 2012. <http://www.chinadaily. com.cn/business/2012-11/29/content_15970131.htm> “China urges EU to cancel anti-dumping duty on Chinesemade lighters.” Morning Whistle, November 30, 2012. <http://www.morningwhistle.com/html/2012/whistle_1130/215763.html>
Anti-Japanese sentiment creates trouble for Toyota sales The Province, “Toyota, Honda vie to regain sales in China.” Bloomberg, November 26, 2012. <http://www. theprovince.com/cars/Toyota Honda regain sales China/7609473/story.html> Murphy, Colum. “Japan Car Gloom Lifts in China.” The
Wall Street Journal, November 22, 2012. Accessed November 27, 2012. <http://online.wsj.com/article/SB100014 24127887324712504578135021238792976.html> China Daily, “Toyota exec: ‘Closer long-term relationship’.” Gasgoo Automotive News, November 27, 2012. Accessed November 27, 2012. <http://autonews.gasgoo.com/china-news/toyota-execcloser-long-term-relationship-121127.shtml> Waldmeir, Patti. “Japanese carmakers: staying the course in China, come what may.” Financial Times, sec. Beyondbrics, November 23, 2012. <http://blogs.ft.com/ beyond-brics/2012/11/23/japanese-carmakers-stayingthe-course-in-china-come-what-may/>
China’s politically fueled economic transition AP. “China exports accelerate in October, imports weak - Businessweek.” Businessweek - Business News, Stock Market & Financial Advice. http://www.businessweek.com/ ap/2012-11-09/chinas-october-export-growth-acceleratesto-11-dot-6-percent-imports-weak-at-2-dot-4-percent (accessed November 27, 2012). Economy, Elizabeth. “China’s Leadership Transition: Three Things to Know.” Council on Foreign Relations. www.cfr. org/china/chinas-leadership-transition-three-things-know/ p29485 (accessed November 27, 2012). “‘Export-led Chinese economy’ should change its route.” RT. rt.com/business/news/china-leadership-transition-economy-828/ (accessed November 27, 2012). Rizzi, Warren. “Xi Jinping the New Leader of China: What to Expect From the New Chinese Government.” PolicyMic. http://www.policymic.com/articles/19100/chinese-government-transition-what-to-expect-from-xi-jinping-and-thenew-chinese-leadership (accessed November 27, 2012). Ruan, Victoria. “Chinese exports on edge but not likely to tumble | South China Morning Post.” Home | South China Morning Post. http://www.scmp.com/business/economy/ article/1086277/chinese-exports-edge-not-likely-tumble (accessed November 27, 2012). Xuequan, Mu. “China’s vice premier urges accelerating industrialization, urbanization.” Xinhua. http://news.xinhuanet.com/english2010/china/2010-10/11/c_13550478. htm (accessed November 27, 2012).
Rise in shadow banking as China favours private investment “China is plagued by shadowing banks amid deteriorating economy.” MorningWhistle. N.p., n.d. Web. 22 Nov. 2012. <http://www.morningwhistle.com/html/2012/ Fina> “China Private Funds Bolster Local Government Projects, Raise Risks.” The Wall Street Journal Online. N.p., n.d. Web. 22 Nov. 2012. <http://professional.wsj.com/article/SB 10001424127887323894704578108423611108926.html?mg=reno64-wsj>. “Chinese local governments invite private investment in monopoly industries.” MorningWhistle. N.p., n.d. Web. 22 Nov. 2012. <http://www.morningwhistle.com/html/2012/ M> Easley, Jonathan. “Romney touts foreign aid overhaul in appearance at Clinton Global Initiative.” The Hill. N.p., n.d. Web. 22 Nov. 2012. <http://thehill.com/video/campaign/258517-romneyappears-with-clinton-to-tout-public-private-partnershipplan-on-foreign-aid->. “Govt turns to private capital.” Global Times. N.p., n.d. Web. 22 Nov. 2012. <http://www.globaltimes.cn/content/7351> McIntrye, Douglas A. “A Stimulus Package That Works: China’s 7.9% GDP Growth.” 24/7 Wall St.. N.p., n.d. Web. 22 Nov. 2012. <http://247wallst.com/2009/07/16/a-stimulus-package-that-works-chinas-7-9-gdp-growth/>. Rovnick, Naomi. “Fifteen reasons why China’s economy is still shaky.” Quartz. N.p., n.d. Web. 22 Nov. 2012. <http://qz.com/26885/fifteen-reasons-why-chinas-economy-is-still-shaky-and-what-the-new- leadership-can-doabout-it/>.
Chinese monetary policy impeded by conflicting goals and agendas Amadeo, Kimberley. “China’s Currency: the Yuan or Renmimbi” About.com. 31 Jan. 2012. Web. 3 Dec. 2012. <http://useconomy.about.com/od/glossary/g/Yuan.htm> Bayron, Heda. “China Pushing for Yuan to be Global Currency” VOA News. 23 Jan. 2011. Web. 3 Dec 2012. <http://www.voanews.com/content/china-pushing-foryuan-to-be-global-currency-but-business-leaders-say-notyet-114475409/133942.html> “China Tug of War on Yuan”, The Wall Street Journal. 8 Nov. 2012. Web. 3 Dec 2012. <http://professional.wsj.com/article/SB100014241278873 24073504578106362589099052.html?mod=HK_LeadStory&mg=reno64-wsj> “Is China Manipulating its Currency for a Trade Advantage?” China US Trade Law. 11 Oct. 2011. Web. 3 Dec. 2012 <http://www.chinaustradelawblog.com/2010/10/articles/ cvd/is-china-manipulating-its-currency-for-a-trade-advantage/> “The Flight of the Renminbi” The Economist. 27 Oct. 2012. Web. 3 Dec. 2012. <http://www.economist.com/news/china/21565277-economic-repression-home-causing-more-chinese-moneyvote-its-feet-flight>
North Korea continues to print “perfect” USD counterfeits Rooney, Ben. “Warning: Counterfeit Dollars from N. Korea.” CNN Money, June 18, 2009. <http://money.cnn.com/2009/06/18/news/international/Treasury_warning_North_Korea/?postversion=2009061817> Mihm, Stephen. “No Ordinary Counterfeit.” The New York Times, July 23, 2006. <http://www.nytimes.com/2006/07/23/magazine/23counterfeit.html?pagewanted=all&_r=0> Wolman, David. “How the U.S. Could Pressure North Korea Tomorrow: Quit the $100 Bill.” TIME: Business and Money, February 24, 2012. <http://business.time.com/2012/02/24/how-the-u-s-
could-pressure-north-korea-tomorrow-quit-the-100-bill/> “How to Retaliate Against the North Korean Counterfeiting of US Currency.” ROK Drop, February 25, 2012. <http://rokdrop.com/2012/02/25/how-to-retaliate-against-the-north-korean-counterfeiting-of-us-currency/> Brown, Greg. “Expert: North Korea can Flood World With Fake U.S. Cash.” Money News, February 28, 2012. <http://www.moneynews.com/StreetTalk/North-KoreaFake-US/2012/02/28/id/430777> Rose, David. “North Korea’s Dollar Store.” Vanity Fair, August 5, 2009. <http://www.vanityfair.com/politics/features/2009/09/ office-39-200909>
New class of destroyers raise naval stakes (In order of appearance)
Cole, J. Michael. “China Building New Type 052D Guided Missile Destroyer.” Taipei Times, August 29, 2012. Accessed November 16, 2012. <http://www.taipeitimes.com/ News/taiwan/archives/2012/08/29/2003541468> “China Building New Type 052D Destroyer.” China.org.cn, August 31, 2012. Accessed November 16, 2012. <http:// www.china.org.cn/china/2012-08/31/content_26390048. htm> Feng. “052C and Beyond.” July 21, 2012. Accessed November 16, 2012. <http://china-pla.blogspot. com/2012/07/052c-and-beyond.html> Feng. “The Emergence of 052D.” September 1, 2012. Accessed November 16, 2012. <http://china-pla.blogspot. com/2012/09/the-emergence-of-052d.html> Fisher, Richard D. Jr. China’s Military Modernization: Building for Regional and Global Reach. Stanford: Stanford Security Studies, 2010. (p. 152-153) Marcus, Jonathan. “Buzz Over China’s New Prototype Warship.” BBC News, September 12, 2012. Accessed November 16, 2012. <http://www.bbc.co.uk/news/worldasia-china-19553811> Arena, Mark V., Blickstein, Irv, Younossi, Obaid, Grammich, Clifford A. Why Has the Cost of Navy Ships Risen?: a Macroscopic Examination of the Trends in U.S. Naval Ship Costs Over the Past Decades.Santa Monica: RAND Corporation, 2006. (p. 45, 55, 60, 65) Collins, Gabe, Erickson, Andrew. “New Type 052D Destroyer Signals Chinese Naval Shift.” The Wall Street Journal, October 8, 2012. Accessed November 16, 2012. <http://blogs.wsj.com/chinarealtime/2012/10/08/new-destroyer-a-significant-development-for-chinese-sea-power/> “Houbei Class (Type 022) Fast Attack Craft, Missile.” GlobalSecurity.org, November 7, 2012. Accessed November 17, 2012. <http://www.globalsecurity.org/military/world/ china/houbei.htm> Holmes, James R. “Taipei Must Admit Defeat In the Arms Race.” The Diplomat Blogs, September 6, 2012. Accessed November 16, 2012. <http://thediplomat.com/the-naval-diplomat/2012/09/06/taipei-must-admit-defeat-inthe-arms-race-and-then-work-around-it/> “Hsiung-Feng II.” GlobalSecurity.org, November 7, 2011. Accessed November 16, 2012. <http://www.globalsecurity. org/military/world/taiwan/hf-2.htm> Wertheim, Eric. The Naval Institute Guide to Combat Fleets of the World: Their Ships, Aircraft, and Systems, 15th Edition. Annapolis: United States Naval Institute, 2007. (p. 758) “JMSDF Ships.” GlobalSecurity.org, March 3, 2012. Accessed November 16, 2012. <http://www.globalsecurity. org/military/world/japan/ship.htm> “DDG Kongo Class.” GlobalSecurity.org, November 7, 2012. Accessed November 16, 2012. <http://www.globalsecurity.org/military/world/japan/kongo.htm> “DDG-117 Atago (DDG 7,700 ton) Class.” GlobalSecurity.org, November 7, 2012. Accessed November 16, 2012. <http://www.globalsecurity.org/military/world/ japan/7700ton.htm> “Project 1242.1 Molniya, Project 1241.8 Molniya Missile Boat.” GlobalSecurity.org, November 7, 2012. Accessed November 27, 2012. <http://www.globalsecurity.org/military/world/russia/1242.htm> Waters, Conrad. “Regional Review: Asia and the Pacific.” In: Seaforth World Naval Review 2012. edited by Conrad Waters. Barnsley: Seaforth Publishing, 2011. SIPRI, “Transfers of Major Conventional Weapons: Sorted By Supplier. Deals with Deliveries or Orders Made For Year Range 2003 to 2011 [Suppliers: All. Recipient: Vietnam],” November 28, 2012. “Philippine Navy- Modernization.” GlobalSecurity.org, March 8, 2012. Accessed November 27, 2012. <http:// www.globalsecurity.org/military/world/philippines/navy-modernization.htm>
Rumble in the jungle: new Cambodian tanks pose little threat (In order of appearance)
“Thailand and Cambodia in Fresh Border Clash.” BBC News, April 22, 2011. Accessed November 25, 2012. <http://www.bbc.co.uk/news/world-asia-pacific-13167455> “Yemen Was Bulgaria’s Biggest Arms Export Partner in 2010- U.N.” Novinite: Business: Industry, August 9, 2011. Accessed November 26, 2012. http://www.novinite.com/ view_news.php?id=130970 SIPRI. “Transfers of Major Conventional Weapons: Sorted by Supplier. Deals With Deliveries or Orders Made for Year Range 2010 to 2011 [Supplier: All. Recipient: Cambodia.],” November 26, 2012. Agence France-Presse. “Cambodia Boosts Army With New Tanks, Fighter Vehicles.” Defense News, September 15, 2010. Accessed November 26, 2012. http://www. defensenews.com/article/20100915/DEFSECT02/9150315/ Cambodia-Boosts-Army-Tanks-Fighter-Vehicles Zaloga, Steven; Samuel Katz (1996). Tank Battles of the Mid-East Wars 1: The Wars of 1948–1973.. Concord. Gelbart, Marsh (1996). Tanks: Main Battle and Light Tanks. London: Brassey’s.