Iran lending Russia a big helping hand in Ukraine

The war in Ukraine is helping one country achieve its foreign policy and national security objectives, but it’s neither Russia nor Ukraine. It’s Iran. Iran is among Russia’s most vocal supporters in the war. This has little to do with Ukraine and everything to do with Iran’s long-term strategy vis-à-vis the United States. As Russia’s […]

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What Powell could learn from Rhee

TOKYO – As US Federal Reserve Chairman Jerome Powell rocks and roils global markets, he may have an unlikely but pivotal ally in Seoul.

Markets everywhere are still quaking over Powell’s August 26 speech in Jackson Hole, Wyoming, where he warned that higher interest rates will cause “some pain” and that the Fed’s tightening cycle may persist “for some time.”

Yet Bank of Korea Governor Rhee Chang-yong seems less shaken than most. That’s an intriguing crouch given how the Fed’s last big rate-hike campaign in 1994 and 1995 devastated South Korea’s economy, along with those of Indonesia and Thailand.

But Korea’s economy has changed radically since the 1997-98 Asian Financial Crisis. And more recently, the BOK has accepted inflationary realities and utilized its brake pedal well before the Fed decided to act.

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US-China audit agreement not yet a done deal

China and the United States have signed an agreement to solve the accounting disputes of US-listed Chinese firms but both sides have different understandings of the approach of cooperation. The United States’ Public Company Accounting Oversight Board (PCAOB), the China Securities Regulatory Commission (CSRC) and China’s Ministry of Finance last Friday signed a statement of […]

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US Fed’s wrecking ball slams Asian markets

SEOUL – The storm took the weekend to combination the Pacific, but it made landfall however: On Monday (August 29), Asian markets had been hit by the exact same tempest that pummeled US markets late Friday. On that day, US Federal Reserve Chairman Jerome Powell had moved the tectonic dishes in a highly-anticipated talk to central lenders […]

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