As he travels across Asia, President Trump is pushing an ambitious, if still vague, new foreign policy: a “free and open Indo-Pacific” stretching from the West Coast to Japan, down through Southeast Asia to Australia, and west across another ocean to India.Trump is seeking to link the vast Indo-Pacific — far larger than the familiar Asia-Pacific — in a conscious effort to expand America’s traditional strategic interests to include India, the world’s most populous democracy, as a counterweight to China, a protectionist totalitarian state, according to a senior administration official accompanying the president in Asia.Over the last month, the head-scratching term has emerged in White House speeches, Cabinet meetings and media briefings, as well as Trump’s comments and statements this week in Tokyo, Seoul, Beijing and Da Nang, Vietnam, where he told an Asia-Pacific Economic Cooperation summit audience that the city was in “the very heart of … [Read more...] about Trump crosses Asia touting a ‘free and open Indo-Pacific,’ a shift in rhetoric if not actual strategy
Asia
What will 2018 bring in South-East Asia?
This article first appeared on the Council on Foreign Relations site. And here.Southeast Asia, like many parts of the world, had a turbulent 2017, with many of the biggest challenges related to a rollback in rights and democracy, and the strength of populism in the region.The crisis in Myanmar’s Rakhine State, which dates back to 2012 in its current iteration, exploded into the biggest humanitarian disaster in East Asia, with little prospect now of Rohingya safely returning to homes in Rakhine State, even though the Bangladesh government is clearly uneasy with the massive numbers of refugees who have crossed into Bangladesh. Keep up with this story and more Still, it is unlikely many Rohingya will return—not while the Myanmar armed forces continue to attack parts of Rakhine State.In other 2017 events, Rodrigo Duterte declared martial law in Mindanao and oversaw a brutal siege in the southern city of Marawi, while continuing aspects of his lawless drug war. Duterte’s … [Read more...] about What will 2018 bring in South-East Asia?
North Korea’s Kim, China’s Xi both had a big year. Here’s why we should care about Asia’s 2017
Asia was much in the news in 2017, as North Korea’s brutal dictator Kim Jong Un surprised experts around the world with rapid progress in his weapons program, testing intercontinental ballistic missiles and nuclear bombs. The United Nations and U.S. imposed sanctions on the North, but didn’t deter Kim from continuing to make military advances. Kim and President Trump traded insults and threats but, thankfully, avoided going to war. Hopefully, war between the two nuclear nations will be averted in the year ahead as well. President Trump gave up on President Obama’s failed “pivot to Asia” and said the U.S. would not join the Trans Pacific Partnership free trade agreement, which had been a top priority of the Obama administration. The new U.S. president instead embraced an “America First” foreign … [Read more...] about North Korea’s Kim, China’s Xi both had a big year. Here’s why we should care about Asia’s 2017
China’s military is a threat to East Asia, Taiwan president says
Onstage, flanked by two models of fighter jets, Taiwan President Tsai Ing-wen said China’s military ambitions were not only affecting Taiwan but all of East Asia during a Friday news conference. She also warned that tensions between Taiwan and the mainland should not be concluded through military force.“China’s military activities don’t only impact the situation in the Taiwan Strait, but also in all of East Asia ... This is not a problem being faced alone by Taiwan,” Tsai, Taiwan’s first female president, told local reporters.“All countries in this region who want to see peace and stability, have a consensus ... and China can’t ignore this... cross-Strait issues absolutely can’t be resolved through military force but through peaceful means.” Keep up with this story and more Tsai then pledged to expand Taiwan’s defense budget.“Over the past year, the morale of our military is steadily … [Read more...] about China’s military is a threat to East Asia, Taiwan president says
Asia closes mixed on the last trading day of the year; dollar softens
Major markets in Asia closed narrowly mixed on the last trading day of the year following the moderately higher close seen stateside. On the whole, however, most regional markets have recorded strong gains year-to-date. The Down Under, the Greater China markets traded slightly higher on Friday. The more than 35 percent year-to-date. On the mainland, the South Korean markets were closed on Friday, with trade to resume only after the New Year's weekend. The benchmark Kospi index had increased 21.63 percent this year. Markets across Asia have run up significantly this year, buoyed by the recovery in economic growth globally. MSCI's broad index of shares … [Read more...] about Asia closes mixed on the last trading day of the year; dollar softens
UPDATE 1-China clampdown on overseas deals crimps Asia Pacific M&A volumes in 2017
[email protected] * 2017 China outbound M&A down by more than a third at $140 bln * Asia Pac M&A volume still exceeds $1 trln for 3rd straight yr * Dealmaking environment in China to remain cautious - bankers (Adds how deals are defined, in paragraph 6) HONG KONG, Dec 29 (Reuters) - Asia Pacific dealmaking activity slipped in 2017 as outbound transactions nearly halved, led by China as Beijing increased scrutiny of crossborder investments and clamped down on some of its most acquisitive - and indebted - conglomerates. Chinese overseas M&A investments slumped by more than a third to $140 billion this year from a record last year, data from Thomson Reuters showed, and investment bankers expect the dealmaking … [Read more...] about UPDATE 1-China clampdown on overseas deals crimps Asia Pacific M&A volumes in 2017
China won’t cut its debts or fix its industries — but that’s OK, says Pimco’s Asia guru
Luke Spajic is an outspoken optimist about China. So it was somewhat counter-intuitive when the veteran high level of debt — the main source of concern among investors — isn't primed to go away anytime soon. In fact, he said, borrowings may even increase significantly. And it's not just debt growth that won't get better in the world's second-largest economy, according to Spajic, who manages the bond giant's Asian credit portfolios and leads the emerging markets portfolio management in Asia — overseeing an estimated $8.6 billion worth of assets in the region. That is, China's efforts to restructure its massive and debt-ridden state-owned enterprises may not make much headway despite a push from Beijing to contain domestic financial risk, he … [Read more...] about China won’t cut its debts or fix its industries — but that’s OK, says Pimco’s Asia guru
China clampdown on overseas deals crimps Asia Pacific M&A volumes in 2017
* 2017 China outbound M&A down by more than a third at $140 bln * Asia Pac M&A volume still exceeds $1 trln for 3rd straight yr * Dealmaking environment in China to remain cautious - bankers HONG KONG, Dec 29 (Reuters) - Asia Pacific dealmaking activity slipped in 2017 as outbound transactions nearly halved, led by China as Beijing increased scrutiny of crossborder investments and clamped down on some of its most acquisitive - and indebted - conglomerates. Chinese overseas M&A investments slumped by more than a third to $140 billion this year from a record last year, data from Thomson Reuters showed, and investment bankers expect the dealmaking environment to remain cautious in 2018. The … [Read more...] about China clampdown on overseas deals crimps Asia Pacific M&A volumes in 2017
Asia trades mixed on the last trading day of the year; dollar on the back foot
Major markets in Asia were narrowly mixed on the last trading day of the year following the moderately higher close seen stateside. Meanwhile, copper prices held onto gains to trade near a four-year high. The Down Under, the Greater China markets traded slightly higher on Friday. The South Korean markets were closed on Friday, with trade to resume only after the New Year's weekend. Wall Street closed slightly higher on Thursday, with the Dow Jones industrial average closing at a record high. The index on Thursday remained on track to record weekly gains. The Dow tacked on 0.26 percent, or 63.21 points, to close at … [Read more...] about Asia trades mixed on the last trading day of the year; dollar on the back foot
Asia looks set to open flat on the last trading day of the year
Futures pointed to a flat open in Asia on the last trading day of the year following the moderately higher close seen stateside on Thursday. Wall Street closed slightly higher in the second-to-last trading session of the year, with the Dow Jones industrial average closing at a record high. The index on Thursday remained on track to record weekly gains. The Dow tacked on 0.26 percent, or 63.21 points, to close at 24,837.51; the S&P 500 added 0.18 percent to end at 2,687.54, and the tech-heavy Nasdaq composite rose 0.16 percent to finish the session at 6,950.16. Asian markets looked set for another subdued session, with futures indicating a mostly flat open for Japanese markets. Nikkei futures traded in Chicago were 0.11 percent higher at 22,810 and Osaka futures were less than 0.1 percent above the index's Thursday … [Read more...] about Asia looks set to open flat on the last trading day of the year