China catches cold, South Korea gets the flu

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SEOUL – Global trade weathervane South Korea is facing an unfamiliar and unwelcome situation: Not only has it been suffering consecutive monthly trade deficits since April, but figures just in show August’s deficit was also a record. The country saw imports outpace exports by US$9.47 billion last month, the largest deficit ever recorded, according to […]

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Ukraine offensive aims at Russia’s naval vulnerabilities

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Ukraine launched its counteroffensive in the Kherson region on August 29, the success of which would have major military, political and symbolic consequences. This move has been made possible by Ukraine’s recent maritime successes that have reduced Russia’s ability to control the southern coast of Ukraine. Six months after Russia began its invasion of Ukraine, […]

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US-China shadow war descends on Taiwan

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Nearly a month after US House of Representatives Speaker Nancy Pelosi’s explosive visit to Taiwan, there is no sign of relenting by either China or the US over the self-governing island. This week saw the Taiwanese military fire warning shots at a Chinese drone for the first time in history, underscoring rising tensions in the […]

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New-old China-Taiwan white paper: What’s the point?

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In the wake of the People’s Liberation Army exercises in August, the Communist Party of China (CPC) released a new white paper on its goal of “reunification” with Taiwan. Much of the change in this paper compared with the most recent white papers (in 1993 and 2000) is tonal – Cherry Hitkari of the Lowy Institute notes it […]

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How Russia may escalate conflict beyond Ukraine

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Six months into the Ukraine war, the conflict’s escalation pattern seems relatively predictable. However, Western observers may be anticipating escalation in the wrong place.  Russia is demonstrating the capability to make trouble for the West in the Indo-Pacific region. The US and its allies should anticipate this, both deterring Russian horizontal escalation beyond Ukraine and forcing Russia […]

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Russia doesn’t really need Iranian drones 

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Washington says Russia has taken delivery of the first shipment of drones from Iran and that the Russians plan to purchase hundreds of them. Russia replies that it is not buying Iran’s drones while the Iranians insist they are neutral regarding the war in Ukraine.   The view in Washington is that the Russians are running […]

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Kyocera founder Kazuo Inamori dead at 90

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Kazuo Inamori, the founder and chairman emeritus of Kyocera – a top rank Japanese maker of electronic components, devices and materials – passed away at his home in Kyoto on August 24. He was 90 years old. Inamori was one of Japan’s most outstanding entrepreneurs and business executives, making his mark as a managerial innovator, […]

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US private equity fund wins Pyrrhic victory over Seoul

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SEOUL – A 10-year arbitration battle wrapped up on August 30 with the International Center for Settlement of Investment Disputes (ICSID) awarding American private equity finance fund Lone Superstar US$217 million in damages from the Southern Korean government.

The case has been sparked by what the particular Dallas-based fund alleged was Seoul’s refusal to permit the sale of a distressed asset it had obtained within a reasonable time period, robbing it of billions of dollars worth of profits. Lone Star opened proceedings at the ICSID in 2012.

However , this dry description does not do the investor-state dispute, which happened in the tumultuous wake of the 1997-8 Asian financial crisis, justice.

The extremely emotive struggle noticed unionists wielding machetes, secret cameras embedded in C suites, fund chairmen getting grilled in court and questions being asked behind closed doors in Washington’s corridors associated with power.

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Philippine-born pretenders pursue QAnon global ‘monarchy’

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Following up a report that the self-crowned “Queen of Canada” is expanding her QAnon-inspired movement into the United States, Asia Times has noticed that Romana Didulo’s newly anointed “King of the US” claims to be – like Didula – a Philippines-born immigrant. “I am a naturalized US citizen from Maharlika,” “His Majesty” King David J […]

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What Xi Jinping’s travel plans say about China’s strategy

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Predicting the overseas travel plans of Chinese President Xi Jinping has become something of a parlor game for journalists and foreign-policy observers. Xi has not left China since the Covid-19 pandemic began, and the destination of his first post-pandemic trip – and whom he meets – will speak volumes about China’s strategic priorities.   In the Middle […]

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