Tag Archives: Asia

China | The Domestic Consequences of China’s ‘One Belt One Road Initiative’

by Qian Benli

Currently, the prospects of China’s ‘One Belt One Road Initiative’ (hereinafter referred to as OBOR) are dim. An article published in the Financial Times in July this year pointed out that 234 out of 1,674 Chinese-invested infrastructure projects announced in 66 Belt and Road countries since 2013 have encountered difficulties. The most recent and striking problem occurred in Malaysia——newly elected prime minister Mahathir Mohamad canceled the US$20 billion East Coast Rail Link projectright after his official visit to Beijing.

Indonesia | Another tsunami could hit Indonesia, experts warn

Another tsunami could strike Indonesia, experts warned on Sunday, a day after more than 200 people were killed by a wave triggered by a volcanic eruption.

South Korea | South Korea’s Labor Fight against Moon’s “Flexible Work Hour” Policy

160,000 South Korean workers walked off the job last month to protest President Moon Jae-in’s labor policy.

The following is an interview with Wolsan Liem of the Korean Public Service and Transport Workers’ Union (KPTU) about the strike, the current government’s labor policy, and the state of South Korea’s economy.

The IMF and World Bank: Aiding and abetting inequality in Asia

Asia continues to draw attention as the “most important engine of global growth,” according to IMF Managing Director Christine Lagarde. Yet, as growth on the continent intensifies, countries are also experiencing deepening income and wealth inequality. Income disparities in 11 economies – about four-fifths of the region’s population – are widening, and while inequality gaps within countries are closing elsewhere, they have been growing in Asia. By the World Bank’s own account, “inequality in Indonesia has reached historically high levels,” with the wealthiest 10 per cent consuming as much as the poorest 54 per cent in 2014, which is an increase from 42 per cent in 2002.

China | A critical look at China’s One Belt, One Road initiative

by Martin Hart-Landsberg

China’s growth rate remains impressive, even if on the decline. The country’s continuing economic gains owe much to the Chinese state’s (1) still considerable ability to direct the activity of critical economic enterprises and sectors such as finance, (2) commitment to policies of economic expansion, and (3) flexibility in economic strategy. It appears that China’s leaders view their recently adopted One Belt, One Road Initiative as key to the country’s future economic vitality. However, there are reasons to believe that this strategy is seriously flawed, with working people, including in China, destined to pay a high price for its shortcomings.