Archive for category Pacific Rim Perspective

Laissez-faire City

Jan 23

Posted by GRIH in Free Market Economics, Pacific Rim Perspective | No Comments

Singapore is the second freest economy in the world, according to an American think-tank. In its 2008 Index of Economic Freedom the Heritage Foundation ranked the city-state a close second after Hong Kong, which topped the list of 157 countries for the 14th year running. Singapore’s efforts to cut taxes and attract foreign investment helped it increase its 2007 score by 0.2 points to 87.4. But the report also criticised Singapore’s financial and banking sector, which it claimed suffers from too much government intervention.

China declares war on plastic bags

Jan 18

Posted by GRIH in Environment, Pacific Rim Perspective | No Comments

BEIJING – Declaring war on the “white pollution” choking its cities, farms and waterways, China is banning free plastic shopping bags and calling for a return to the cloth bags of old – steps largely welcomed by merchants and shoppers on Wednesday.

The measure eliminates the flimsiest bags and forces stores to charge for others, making China the latest nation to target plastic bags in a bid to cut waste and conserve resources.

Read the rest of the article here

Samsung raided over slush fund

Jan 18

Posted by GRIH in Pacific Rim Perspective | No Comments

SEOUL, South Korea – Special prosecutors raided the headquarters of Samsung Group yesterday in a widening probe into allegations that the massive conglomerate set up a slush fund to bribe influential figures.Yim Jun-seok, a Samsung spokesman, confirmed that investigators entered the strategic planning office at the conglomerate’s headquarters in Seoul.

He provided no details. Investigators could not immediately be reached for comment.

The raid, which occurred in the same building where global technology giant Samsung Electronics, the flagship of the conglomerate, has its Seoul offices, came a day after investigators searched an office of Samsung Chairman Lee Kun-hee and seven other locations.

Yonhap news agency reported that dozens of prosecutors and investigators seized documents and other materials related to the allegations.

Article source: (Honolulu Advertiser)

N. Korea in stunning spurt of diplomacy

Jan 14

Posted by GRIH in Pacific Rim Perspective | No Comments

By Blaine Harden

SEOUL, South Korea – Choi Won-ho has made six trips to North Korea in the past two years, struggling each time to convince the reclusive government there that the time was ripe for a chicken franchise.

“I told those guys that Kentucky Fried Chicken would come sooner or later,” said Choi, president of a company that has franchised 70 chicken restaurants in South Korea. “I told them it would be better to have an indigenous Korean brand, with takeout delivery.”

Read the rest of this article from the Honolulu Advertiser, here

In China, a Man’s Home is his Castle Too

Dec 3

Posted by GRIH in Pacific Rim Perspective, Property Rights | 1 Comment

In China, a Man’s Home is his Castle Too – The following blog entry was posted by Dr. John Rutledge, Chairman, Rutledge Capital LLC and Honorary Professor, Chinese Academy of Sciences on Dr. John Rutledge Blog, March 24, 2007.

Americans need to lose the Cold War image of China as people in Mao jackets riding bicycles holding little red books. People in China struggle with the same issues we do in America, including local government officials and developers trying to take your house so they can build a shopping center. Sound familiar? This issue is especially important in light of the new private property law passed by China’s legislators last week.

Local residents look at a two-storey home, which is now the only building left standing atop a mound in a 10-meter-deep construction pit in Chongqing March 22, 2007. [newsphoto]

There is a great story in today’s China Daily, Defiant couple stave off wrecking ball, about a family in Chongqing that is refusing to give up their 2000 square foot house even after the local authorities cut off their water and electricity. Worth noting: 1) the story is being reported by reporters from all over China, 2) the couple has a banner on the house reading “Rights to legitimate private property shall not be infringed upon,” 3) the issue is the price–they want to be paid the fair market value in the hot property market so they can relocate, and 4) my friends at Sina.com took a poll yesterday showing that 86% of the 83,175 people interviewed supported the couple’s decision. Every one of these points flies in the face of the stereotype shown in the U.S. media.

I’m not saying it’s Kansas in Chongqing. Chinese institutions are not just like ours; they are evolving in a healthy direction. There is not yet rule of law, although they are working on it. But people are people everywhere.

Suggestion: set up an automatic search on Google for all stories with the words “National People’s Congress” to be delivered to your email every day. You will see a dozen or so stories each day so you can track the changing legal and regulatory climate in China yourself.

The 2008 Authoritarian Olympics

Nov 19

Posted by GRIH in Miscellaneous, Pacific Rim Perspective | No Comments

Hitler’s Germany… Soviet Russia… and soon Communist China. The Olympics are continuing their fine tradition of helping to further legitimize anti-freedom regimes. But wait! Economist.com reports that the Chinese Communist government is going to allow dissent and protest during the games… and all you need is police-state approval!

“China’s harsh laws governing marches, demonstrations and large gatherings will be strictly enforced during the 2008 Beijing Olympics. The ministry of public security issued a reminder in November that organisers of any such events must apply for approval at least five days in advance, including in their request details concerning the number of participants and the content of any banners to be hoisted or slogans shouted. Violators, including foreign visitors, may face criminal penalties, including fines or detention. Gatherings may be banned if, among other things, they threaten to “instigate divisions among the people” or endanger public safety. Indeed, police approval is rare.”

That Long March to liberty is very long indeed!

A Bump in China’s Long March to Liberty

Sep 24

Posted by GRIH in Miscellaneous, Pacific Rim Perspective | No Comments

The Economist.com reports on a blow to Beijing’s night owls, bohemians, and landlords:

“Landlords and estate agents in Beijing are bristling over new police rules that forbid them from letting to tenants who lead ‘irregular lifestyles.’ The state-run China Daily reported on September 7th that the regulations affect not just would-be residents who lack legal identity documents or engage in illegal activities, but also those who ‘keep unsociable hours.’ The newspaper quoted a police official as saying the rules would improve the administration of the leasing market, safeguard public security and maintain social order.”

Global Capitalism & a “Model” Socialist State

Sep 10

Posted by GRIH in Miscellaneous, Pacific Rim Perspective | 1 Comment

The leftist state of Kerala, India has been held up as proof that socialism works. Alas, as a recent NY Times story reveals, the only way Kerala has been able to survive is because so many of its citizens get jobs elsewhere and send money back home: “Remittances from global capitalism are carrying the whole Kerala economy,” said S. Irudaya Rajan, a demographer at the Center for Development Studies, a local research group. “There would have been starvation deaths in Kerala if there had been no migration. The Kerala model is good to read about but not practically applicable to any part of the world, including Kerala.”

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Jobs Abroad Support ‘Model’ State in Inda

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