Word: korea
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...recession while America languishes, the topic is coming up with increasing frequency. At a meeting of regional leaders hosted by the Association of Southeast Asian Nations in Thailand last month, Japan's Prime Minister Yukio Hatoyama proposed an "East Asian community" that would bind together Japan, China, South Korea and the 10 countries of Southeast Asia, plus India, Australia and New Zealand. Hatoyama - who recently opined that "the era of U.S.-led globalism is coming to an end" - suggested this zone have its own common currency and could some day "lead the world." Less ambitiously, China has suggested a smaller...
...consumption in the West for goods and services produced here, we feel will no longer serve us." This is especially true because China, which is poised to overtake Japan as the world's second largest economy, is an increasingly important trading partner for countries such as Japan, South Korea and Indonesia. "Asian firms would do better to reorient their exports and production towards meeting the demand of Chinese consumers," says Kit Wei Zheng, a Singapore-based economist with Citigroup. "Firms that refuse to change strategy to cater to Chinese demand will sooner or later find themselves overtaken by competitors...
...style trading bloc in the region - if such a body can be formed at all. Historical enmities simmering between nations like China and Japan could make close cooperation impossible, as could divergent economic interests of poor developing countries like Vietnam and those of advancing industrial economies like South Korea. Another commonly cited impediment is cultural diversity. "Europe is in a sense a single civilization; Asia is not," says Ravi Menon, Permanent Secretary of Singapore's Ministry of Trade and Industry. Others question whether Asia's institutions are robust enough for an E.U.-style union. "Are political institutions mature enough...
...President Barack Obama touched down in China on Sunday, his visit marked a pivotal moment in the two countries' relationship. While the U.S. and China once met to discuss topics of mutual importance, their talks are now occupied with issues of significance to the entire planet. From North Korea to Iran, global warming to global trade imbalances, Washington is increasingly dependent on Beijing's cooperation. The U.S. and China often find things to disagree about. As the world's most powerful democracy and the world's most powerful authoritarian state, they are bound to clash, even as their economic relationship...
...North Korea Nearly 60 years ago the U.S. and China went to war with each other on the Korean Peninsula. Now the two countries are closer than ever in their attitude toward the despotic regime. Both the U.S. and China desire an end to the North's nuclear-weapons program. Beijing has hosted the six-party talks aimed at finding a peaceful resolution, and last month it lobbied Pyongyang to return to the bargaining table. During a visit to Beijing, U.S. Assistant Secretary of State Kurt Campbell said, "I have rarely seen better coordination between China and the United States...