It is unclear how much the leaders of the world’s 20 developed and major developing countries actually wanted to accomplish when they gathered in Washington in mid-November to discuss the fast-moving global financial crisis. However one thing the summit did make clear was the reality that the economic map of the world has been reshaped, and that the small Club of the G-8 has been rendered obsolete for dealing with the current financial crisis. One country that many are hoping will help break the global impasse is China.
Posted December 17, 2008

There’s long been talk of a decoupling of developing countries and emerging markets from the U.S. economy. Some even set their hopes in a reversed decoupling, meaning that big emerging economies like China could take over as engines of world growth and pull the U.S. forward. It is now evident that this was wishful thinking. The U.S. already has the flu, Europe and Japan have been infected, and there is no way that the rest of the world’s economies will get by unscathed.
Posted December 28, 2008

The terror attacks on Mumbai made headlines around the world. When the dust settled, we found ourselves asking the same questions, "How did this happen?" and "What could we have done to prevent this?" But while India and the world contemplates the causes and consequences of these attacks, we ignore India's "other" terrorism: From late August through October, organized Hindu extremist groups committed systematic attacks killing more than 100 people, mostly Christians, in the eastern India state of Orissa. Most worrying, the terrorists responsible for Orissa's violence remain at-large and have explicitly threatened to repeat their attacks on Dec. 25.
Posted December 23, 2008

China’s food adulteration woes continue as testing has revealed that melamine contamination of eggs produced in three provinces has caused kidney stones and renal failure in children. This comes on the heels of widespread milk contamination with melamine that has sickened more than 50,000 and killed at least four. Chinese officials have attempted to restore consumer confidence. But so far their measures are not likely to reassure foreign consumers and importers of Chinese products.
Posted December 19, 2008

QUANZHOU, China – On a factory floor in this city on China's southeast coast, 15 women huddle over sewing machines, stitching the clothes of the gods. They're skilled laborers, embroidering detailed, brightly colored dieties' outfits, banners and wall hangings for Buddhist, Taoist and folk temples. They also make clothes for the hand puppets and marionettes that have earned Quanzhou fame as China's "puppet capital." The factory used to make products for export, particularly to neighboring Taiwan. Now, with the global financial crisis and a corresponding drop in China's export market, it's increasingly selling to domestic Chinese buyers.
Posted December 23, 2008

Thailand’s latest prime minister, Abhisit Vejjajiva, has a tough task in trying to bring the kingdom back on the path to democracy. Who is Mr. Abhisit and what does he stand for? Late last year, REVIEW Deputy Editor Colum Murphy spent a day with the aspiring prime minister on the campaign stump for the December 2007 parliamentary elections. Mr. Abhisit’s Democrat Party did not win a victory at the polls on that occasion. However, the recent political crisis has now given the youthful Mr. Abhisit a chance to lead his country out of political and economic turmoil. Will he succeed?
Posted December 16, 2008

After months of unrest and violence, Thailand’s political crisis has moved off the streets and into the halls of parliament. Over the next few days the Democrat Party and the Puea Thai Party will be jostling for control of a new government. The fact that this battle is being fought in parliament, rather than in occupied airports, is a positive step, and will result in a more stable Thailand in the short term. But in the long term, regardless of which party comes out on top, Thailand’s democracy will be the loser.
Posted December 9, 2008

Bombay has always risen from these assaults, with Sisyphean determination, carrying on as if it is business as usual, that life must go on. Indeed, that spirit persists, and it is admirable. It would not be Bombay if it took out its rage on those who had nothing to do with the atrocities. To understand that attitude, turn to words that anyone who has spent some time in Bombay understands: bindas (brave) or khadoos (stubborn).
Posted November 27, 2008

As shock gives way to anger following the terrorist attack on Mumbai last week, Indians are demanding answers and action from their government. Yes, the authorities' response to terrorism has been frustrating. But the answer to preventing more attacks and to responding more effectively to attacks when they do occur does not lie in resurrecting old anti-terror measures that were scrapped for good reasons, nor in inventing new ones worse than their predecessors.
Posted December 4, 2008

In the wake of the Mumbai attacks, with passions running exceedingly high, let us hope for a diplomatic effort, and for Indian moderation in the coming days in terms of a military response on its borders. The Bush and incoming Obama administration should do all they can to make sure that cooler heads prevail in New Delhi and Islamabad at this dangerous time. There is an opportunity here—for India to engage Pakistan to root out terrorist havens and training camps on Pakistani soil and for the U.S. to serve as a partner and honest broker between the two.
Posted December 2, 2008

The terror attacks that held the financial and commercial capital of India, Mumbai, hostage last week came at a time when the Indian economy and Indian businesses were already struggling. The bottom line is that the India growth story has taken a beating. Industrial production dipped to as low as 1.3% this August compared to 10.9% in 2007. Foreign institutional investors pulled out close to $15 billion in the past few months leading to the stock market crashing from a high of 20000 in January to around 9000 points at present. These factors and others have led to corporations and individuals taking a second look at how they do business in India.
Posted December 8, 2008

BEICHUAN, China - Most of the soldiers who helped in the weeks after the devastating quake that killed more than 80,000 people in the region are gone. Residents say the army left this summer before the Olympics. Volunteers are few and far between. While aid groups are helping to rebuild as they undertake counseling and education programs around the region, there is an overwhelming sense from survivors of a grim, uncertain future.
Posted November 30, 2008

Prime Minister Taro Aso’s five trillion yen ($52 billion) economic stimulus package has been met with lukewarm support by the Japanese public. The plan includes a two trillion yen cash handout program, where every citizen will receive 12,000 yen ($124). Originally, the government wanted a flat-rate tax cut but instead adopted a cash handout, reportedly because of Mr. Aso’s concerns over his flagging popularity. Now that Japan’s economy has fallen into another recession, the government does not have the luxury to experiment with populist policies that have failed in the past.
Posted November 20, 2008

Since the end of World War II, businesses in Japan have seemed intent on fighting a rear-guard action to rewrite the wartime history of their country. This recurring tendency has a pernicious effect on Japan’s postwar relationships and undermines its corporate citizenship efforts. Many Japanese companies, including the successor to Prime Minister Taro Aso’s family firm, have promoted their own idealized versions of the Asia Pacific War.
Posted November 26, 2008