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Manufacturing Asia


21 August 2013

In its latest report Key Indicators for Asia and the Pacific 2013 the Asian Development Bank (ADB) states that industrialization must be an essential part of the growth formula if Asian countries want to prosper and avoid the middle income trap. The report emphasises that manufacturing is essential to a high productivity service sector, technological innovation, and modernizing agriculture.

“Historically, no economy has reached high income status without reaching at least 18% share of manufacturing in output and employment for a sustained period,” said Changyong Rhee, ADB’s Chief Economist.

The report notes that one group of economies - Hong Kong, Japan; South Korea; Singapore; and Taipei - rapidly industrialized to become high income countries, while another group of economies, including China, Malaysia, and Thailand, are transforming more slowly.

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EU-China Deal on Solar Panels

EU-China Deal on Solar Panels

29 July 2013

EU Trade Commissioner Karel De Gucht announced on 27 July that the EU and China had reached ‘an amicable solution’ to the dispute on solar panels. He said that he was satisfied with the offer of a price undertaking submitted by China\'s solar panel exporters and added that the agreement would lead to a new market equilibrium at sustainable prices.

The dispute arose after the Commission imposed temporary anti-dumping levies on the imports of solar panels in response to complaints from European manufacturers that Chinese producers were massively undercutting rivals. China had captured close to 80% of the European market for solar panels over recent years, with exports reaching €20 billion in 2011. The anti-dumping investigation was the biggest in the history of the EU and threatened to spill-over into other areas of EU-China relations.

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Hun Sen

Cambodia Votes – Victory for Hun Sen?

24 July 2013

Cambodia held its fifth general elections on 28 July. According to preliminary election results, incumbent Prime Minister Hun Sen’s Cambodian People’s Party (CPP) won 68 of the parliament’s 123 seats. The oppositional Cambodia National Rescue Party (CNRP) won 55 seats. The opposition’s result is stronger than expected, given that the CNRP was founded only in 2012 as a fusion of the liberal Sam Rainsy Party (SRP) and the Human Rights Party (CNRP).

In 2008, the CPP won 58.1% of the seats. This year’s election would decrease the CPP’s majority in parliament to around 55% and allocate around 45% of seats to the opposition. In 2008’s elections the SRP won only 21.9% of seats. Hun Sen, who has been head of the government since 1984, is eligible to be elected for a fourth term as prime minister.

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Abe wins Upper House election

Abe wins control of the Upper House

21 July 2013

Sunday’s election for the upper house in Japan has given Prime Minister Shinzo Abe\'s ruling Liberal Democratic Party (LDP) a clear majority, the first time for six years that the ruling party has control of both houses of parliament. Japan\'s upper chamber has fewer powers than the lower house but it is able to block legislation introduced. As opposition parties have had enough combined seats to control the upper chamber in recent years, there have been few reforms, much factionalism and multiple changes of prime minister. Since his election Abe has launched an aggressive economic growth programme (known as Abenomics) to drag Japan out of 20 years of stagnation. This involved a big injection of cash by the Bank of Japan and a major boost in infrastructure spending. It appears to be quite successful. Japan\'s economy is now growing at around 4% and the stock market is up 40% since January.

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US-China SED 2013

US-China Deepen Ties

15 July 2013

The Fifth Round of the US-China Strategic and Economic Dialogue (S&ED) was held in Washington, D.C., on 10-11 July. Both sides expressed their satisfaction with the discussions.

The Strategic Track of the dialogue, chaired by US Secretary of State John Kerry and State Councillor Yang Jiechi, led to a number of positive outcomes covering  wide range of over 90 issues, including cyber security, maritime security cooperation, the Korean Peninsula, Iran, Syria, cooperation on climate change, and energy security.  State Councillor Yang Jiechi said: “Both sides are of the view that efforts to build a new model of major country relationships should start in the Asia Pacific.”

Both sides agreed on the importance of North Korea’s denuclearization and the role of the Six-Party Talks in achieving peace and stability on the Korean Peninsula. Regarding Iran and Syria, the two sides reiterated their positions as in previous joint statements. On Afghanistan, the US and China agreed to expand coordination in advance of the 2014 drawdown.

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Ashton Attends ARF

Ashton Attends ARF

12 July 2013

Catherine Ashton continued her commitment to Asia by attending the 20th ASEAN Regional Forum (ARF) last week in Brunei. The ARF is an annual gathering of foreign ministers from the region, including China, Japan, Korea plus the US and EU. Having won kudos for her speech at the Shangri-la meeting in Singapore, Ashton was able to use the ARF to continue her formal and informal contacts with key players including US Secretary of State, John Kerry, China’s foreign minister, Wang Yi, and Vietnam’s foreign minister, Pham Binh Minh.

Although mainly a ‘talk-shop’ the very fact that ministers meet regularly in the ARF is a confidence building measure. The meeting was also buoyed by the fact that the ASEAN group had agreed with China to hold consultations on the South China Sea in Beijing in September. This small move should ease tensions between claimant states which have been simmering for some time. Thailand is expected to hold a meeting in advance to try and coordinate the ASEAN position on a code of conduct.

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Tsakhiagiin Elbegdorj

News of the Week

1 July 2013


Mongolian President Tsakhiagiin Elbegdorj has won a second term in office, defeating former wrestler Badmaanyambuugiin Bat-erdene and Natsag Udval, Mongolia\'s first female contender for the presidency. Mr Elbegdorj won just over 50% of the votes in an election campaign dominated about how to distribute more fairly the country’s wealth from natural resources.

South Korean President visits China

President Park of South Korea visited China for a four day visit including meetings with President Xi and Prime Minister Li. The situation in North Korea and trade relations were top of the agenda.

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Kevin Rudd PM

Rudd Ousts Gillard

27 June 2013

Kevin Rudd has become Australia’s Prime Minister again following a leadership defeat for Julia Gillard within the parliamentary Labour Party. Many MPs, worried at the prospect of a landslide defeat in the general election scheduled for September, switched to support Rudd who is more popular in the polls. The Labour Party had been divided for months over the Rudd/Gillard rivalry. After her defeat, by 57 votes to 45, Gillard immediately announced that she would be leaving politics.

Despite their bitter rivalry, Mr Rudd praised his predecessor when he addressed parliament shortly after being sworn in. He said that Gillard had achieved ‘major reforms for our nation that will shape our country\'s future’ and he acknowledged ‘her great work as a standard bearer for women in our country.’ Referring to the many personal attacks on his predecessor, he called on fellow MPs ‘to be a little kinder and gentler with each other.’

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Xi and Truong

News of the Week

24 June 2013

Vietnamese President Visits China

President Truong Tan Sang visited China for talks with China’s Xi Jinping. Both sides expressed a determination to resolve their territorial disputes in the South China Sea peacefully.

Shinzo Abe\'s assistant’s secret visit to China

Japanese Prime Minister Shinzo Abe\'s diplomatic assistant Shotaro Yachi paid a secret visit to China in mid-June for talks with former State Councilor Dai Bingguo and other senior government officials.

Taliban open office in Doha

To the surprise of many, including the Karzai government, the Taliban opened a political office in Doha, Qatar, and announced that talks would soon start with US officials.

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Kim Jong Un US

News of the Week

16 June 2013

North Korea wants high-level talks with the US

After months of threats and bluster against the US and South Korea, the DPRK has said that it wants ‘serious discussions’ with the US to ‘secure peace and stability in the region’. There have been no high-level talks between the US and North Korea since 2009. The reason for this turnaround is likely to be the need to secure a relaxation of sanctions. The DPRK is known to be short of fuel and food.

Japan-US hold joint military exercises

US military and the Japanese Self-Defence Forces have carried out an ‘island defence’ training exercise in California which has provoked a protest from China. Although Tokyo and Washington insisted the exercise was not aimed at any specific country, the Chinese media considered the exercise unhelpful in light of ongoing Sino-Japanese tensions over the Senkaku/Diaoyu islands.

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