Word: japanized
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...panregional gross domestic product (GDP) hit a record 47% in 2007, fully 10 percentage points higher than the portion in the late 1990s. With approximately 50% of those exports earmarked for the rich countries of the developed world, a rare and sharp synchronous downturn in the U.S., Europe and Japan undermined an increasingly important source of Asia's seemingly invincible growth dynamic. Far from celebrating a newfound resilience, the region was reeling from a severe external shock. Like it or not, Asia's newfound ascendancy remains precarious...
...largely offer inward-looking prescriptions. But the Next Asia has much to gain from its external linkages - especially by focusing more on the benefits of cross-border economic integration. Perhaps the greatest opportunity in that regard could come from closer ties between the two greatest powers in the region: Japan and China. Despite a long and difficult history between them, these two nations are natural complements in many key respects. Japan, with its declining population and high-cost workforce, has much to gain from Chinese outsourcing and efficiency solutions. China, with its need for new technologies and pollution abatement...
...growing differential in interest rates is only one element in this process. On the day Australia raised interest rates, Britain's Independent newspaper reported that the Gulf Arab states and China, Russia, Japan and France are working to end the use of the dollar in oil trading by 2018. Citing "Gulf Arab and Chinese banking sources in Hong Kong," the newspaper said the plan is to price oil using a basket comprising gold, euro, yen, renminbi and a new unified currency for the Gulf Cooperation Council countries...
...Korea's two powerhouse consumer-electronics companies, Samsung and LG Electronics, are wading in too. Samsung earlier this year introduced a reader called the Papyrus in South Korea; reports circulating in the technology blogosphere say LG is developing a prototype with a large, 11.5-in.(diagonal) flexible screen. Meanwhile, Japan's Fujitsu has released the world's first dedicated e-reader with a color screen, although so far the device is only available in Japan. (See the top 10 James Bond gadgets...
...airline industry is suffering worldwide, but ANA has fared better than its main competitor, Japan Airlines (JAL), which has three times the number of international flights as ANA. While JAL recently announced job cuts before it starts a massive restructuring plan with government help, ANA's image has been improving - in part because of moves like this one. Rather than cut services and leave passengers in the cold - remember the disappearing blankets? - to reduce costs and be a greener airline, ANA is asking passengers to get involved. And in Japan, sometimes a little suggestion is met with...