Reflections on the Asian Financial Crisis

What is now known as the Asian Financial Crisis began in July 1997 in Thailand where the baht fell victim to massive speculative attacks. Before the currency was finally devaluated to lose over half of its value, the country’s economic growth came to a grinding halt amid disastrous layoffs in previously booming sectors as finance […]

China, Taiwan to Sign Free Trade Accord

China and Taiwan are expected to agree to a preliminary free-trade agreement later this month in a effort to normalize relations across the Strait after more than six decades of bickering and mistrust. According to The Economist, the proposed Economic Cooperation Framework Agreement (ECFA) calls for cuts on 539 categories of Taiwanese exports to China […]

Why North Korea Will Keep Inventing Crises

Since North Korea sank a South Korean corvette in the Yellow Sea last March, the Hermit Kingdom proved once again just how capable it is of causing international consternation. South Korean President Lee Myung-bak promised “firm, responsive measures against the North.” The world’s last bastion of Stalinism threated with “all out war” in turn which […]

A Chance to Appease China

In the wake of North Korea’s sinking of the South Korean corvette Cheonan last March, the Obama Administration has been trying to muster Chinese support for renewed sanctions against the Stalinist regime. So far, its efforts have been frustrated by division within Beijing’s ruling class. After international investigators proved that the North had been responsible […]

Avoiding the Unthinkable

As evidence mounts that the South Korean warship sunk last March was indeed brought down by a North Korean torpedo, tensions in Korea are rising. South Korean President Lee Myung-bak has pronounced economic sanctions on the North which has reportedly begun to ready troops. The intentional sinking of a foreign naval vessel is certainly cause […]

Trouble in Korea

With American secretary of state Hillary Clinton underway to the East Asia, a crisis is looming in the waters of the Yellow Sea where a South Korean corvette sunk last March, killing 46. South Koreans authorities have ascertained that a North Korean torpedo was responsible for the sinking. The North has denied any involvement, threatening […]

China’s Two Camps

Bankers and bureaucrats want peaceful ties. Hardliners are convinced the West is conniving to keep them poor.

The PLAN and the Rise of China

Just a couple of decades ago the naval forces of China (People’s Liberation Army Navy or PLAN) was a weakling, barely capable of defending the Chinese Coast. Hong-Kong, a British station until 1997, was almost considered secure by naval if not military means even with just a few British warships at the station. Since then […]