A Thai Region Where Husbands Are Imported

A Thai Region Where Husbands Are Imported - NYTimes.com

Free donuts as Krispy Kreme opens in Bangkok

Above, shoppers line up at Siam Paragon yesterday as Krispy Kreme opened its first outlet in Thailand.

Free donuts as Krispy Kreme opens in Bangkok | CNNGo.com

Medical Tourism Recovering in Thailand

Medical Tourism Recovering in Thailand - CNBC.com

Captain's Release Sparks Furor in Japan

The Chinese boat captain captured by Japan and arrested for being in territorial waters claimed by Japan has been released after China began to withhold exports of rare earth minerals to Japan late last week.  That has sparked a furor in Japan, where many Japanese citizens believe the government caved in to China.  Now, China is demanding an apology and compensation from Japan, something Japan has flatly denied it will do.  Japan in turn is seeing compensation from China for damage caused to its naval vessels during the incident.  Above, protesters rally in Hong Kong with signs saying "Japan Get Out."

Captain's Release Sparks Furor in Japan - WSJ.com

China Imposes a Steep Tariff on U.S. Poultry

A year ago, President Obama imposed a stiff tariff on tires from China in an antidumping case. Less than two days later, the Chinese began an investigation into whether the United States harmed China's poultry industry by exporting chicken parts for less than it cost to produce them. Now, China has decided to impose tariffs on American poultry of up to 105.4%. The United States exports about $4 billion a year of chicken products, of which $678.2 million went to China last year. It is one of the few industries in which the U.S. maintains a positive trade balance with China.

China Imposes a Steep Tariff on U.S. Poultry - NYTimes.com

Top Executives Find It Pays to Spend Time in Asia

Kasper Rorsted, CEO of German company Henkel (above), just spent nearly six weeks working in Asia, an unusually long time away from headquarters for a CEO.  His trip spanned 9 countries and involved nearly 100 meetings.  The company makes 14 percent of its sales and 20 percent of its profits in Asia Pacific, and nearly 20 percent of its employees are based in the region with that number poised to grow to one-third in the coming years.  Many companies are now considering moving headquarters to Asia, or splitting their headquarters to include a "co-HQ" in Asia.  Once Cisco executive puts it this way: after changes in trade, manufacturing, development and research, "the next phase of globalization will be the decentralization of headquarters functions."

Top Executives Find It Pays to Spend Time in Asia - NYTimes.com: "- Sent using Google Toolbar"

One-on-One With Thailand's PM

Thailand's economy is one of the best performing in Asia, as this video demonstrates.

One-on-One With Thailand's PM - CNBC.com: "- Sent using Google Toolbar"

Thai Property Fundamentals Very Sound

Thai Property Fundamentals Very Sound - CNBC.com

China's Premier Threatens Japan Over Boat Dispute

Japan's arrest of a Chinese fisherman in disputed waters is causing a major rift between China and Japan. For the Chinese, this is a chance to show domination over a former invader. For Japan, it's a chance to stand up to a growing power. For the U.S., it's a chance to countervail China's growing influence in the region. No resolution is in sight.

China's Premier Threatens Japan Over Boat Dispute : NPR

Ikea Expects to Double Buying of Goods in India

Swedish furniture giant Ikea is privately held, which means it does not have to worry about declaring dividends to shareholders.  As such, its strategy is driven by long term growth, not short term profits.  The company therefore adheres to a management style that is not always the norm.  For example, Ikea will not form joint ventures even if local law requires it.  This week, Ikea CEO Mikael Ohlsson (above) announced IKEA is scrapping plans to open stores in India because of the local requirement that foreign retailers partner with an Indian partner and own a maximum of 51% of the Indian operation.  In spite of that, Ikea plans to spend about 1 Billion Euros in the next three to four years on Indian suppliers, mainly in textiles and fabrics.

Ikea Expects to Double Buying of Goods in India -- NY Times.com

Toiling Far From Home for Philippine Dreams

The town of Mabini, in the Philippines, is filled with large new homes much more luxurious than standard Filipino homes.  They are largely unoccupied, built by the 15% of the town's citizens who are OFWs -- Overseas Filipino Workers.  Working mainly as maids, nurses or service workers, these Filipinos return money to the Philippines as remittances, which rose from $7.6 billion in 2003 to $17.3 billion in 2009.  These payments now account for more than 10% of Phillipines' GDP and are the main factor driving the country's economic growth.

Toiling Far From Home for Philippine Dreams - NYTimes.com

U.S. Steps Up Criticism of China’s Practices

China spends $1 billion a day to maintain the value of its currency against the US Dollar.  By buying its own currency, it artificially maintains the currency at around 6.7 RMB to the USD, allowing its exporters an advantage in important foreign markets.  Now, the Obama administration, led by Treasury Secretary Tim Geithner (above), is stepping up attacks on China and its trade practices, including currency manipulation, theft of intellectual property, and continued market restrictions for U.S. products and services.

U.S. Steps Up Criticism of China’s Practices - NYTimes.com

A Thai City of Sleaze Tries to Clean Up

For years, Pattaya has been known as a sleazy, drug-infested town rife with prostitution and organized crime.  Now, the beachside town, only a two hour drive from Bangkok, is re-inventing itself as a family-friendly resort with luxury hotels, shopping malls, fancy restaurants, and polo tournaments.

A Thai City of Sleaze Tries to Clean Up - NYTimes.com

Boeing Received Illegal Aid, WTO Says

A preliminary report by a WTO dispute panel ruled that Boeing received illegal aid from the federal government as well as Washington state.  Airbus is jumping on the report claiming that it vindicates their claim of illegal aid to Boeing, but Boeing and American officials are urging restraint until the report is made public
Boeing Received Illegal Aid, WTO Says - WSJ.com

Volvo's Big China Gamble

When Chinese car manufacturer Geely bought Swedish car manufacturer Volvo, it announced plans to expand the Volvo brand in China, where it is currently tiny (selling only 24,000 cars last year, in a market of over 13 million).  Yesterday, Geely group chairman Li Shufu revealed much more ambitious plans -- Volvo will build as many as three assembly plants in China, each capable of producing 100,000 cars a year, and all for sale in China.  This would cement Geely as one of China's largest auto makers, and may position the ambitious Chinese company for global growth.

Volvo's Big China Gamble - WSJ.com

EU Raises Tariffs on Wheels

At the urging of wheel manufacturers in Europe, the European Union has agreed to extend antidumping duties on aluminum wheels from China, and to raise those duties to more than 23%.  The move was fiercely opposed by car manufacturers like BMW and Volkswagen, who fear that their businesses in China may be affected by retaliation by the Chinese government.

EU Raises Tariffs on Wheels - WSJ.com

Cuba to Cut State Workers in Tilt Toward Free Market

More than 85% of Cuba's 5.5 million workers are employed by the communist state.  Now, in a recognition that this is a failed policy, the government has announced plans to lay off half a million workers and create hundreds of thousands of private sector jobs.  Up next: a recognition that private wealth is good?

Cuba to Cut State Workers in Tilt Toward Free Market - WSJ.com

Chinese Remake the ‘Made in Italy’ Fashion Label

Prato, Italy, is now home to Europe's largest concentration of Chinese.  In this city, in the heart of Tuscany, they work for over 3,200 companies making low-end clothes, shoes, and accessories, often with materials imported from China.  Their products get the exclusive "Made in Italy" label, and now Italians are growing resentful at how the Chinese are beating them at their own game.

Chinese Remake the ‘Made in Italy’ Fashion Label - NYTimes.com

Entrepreneurs Rise in Ashes of India’s Caste System

In India, the caste system has worked for decades to keep members of the lower caste from advancing.  That's changing in India's southern region, where entrepreneurship and the growth of high tech businesses has allowed people like Chezi Ganesan (above), to rise to riches.  In India's north, however, progress is much slower, as this NY Times report illustrates.

Entrepreneurs Rise in Ashes of India’s Caste System - NYTimes.com

A Very Curious IKEA UK Commercial

On Clean Energy, China Skirts Rules

China is now the world's leading producer of solar panels and other key technologies to implement Green Power (above, a wind turbine made in China being unloaded at the port in Los Angeles).  It got that way through heavy government subsidies such as free land grants and low interest loans.  Those measures are not WTO-compliant, and today a U.S. union filed a complaint with the Obama administration, forcing it to open an investigation into Chinese practices into growing its green manufacturing industry.

On Clean Energy, China Skirts Rules - NYTimes.com

Sweden Is A Better Place To Do Business Than The U.S. - Great Speculations - Buys, holds, and hopes - Forbes

The World Economic Forum has released its annual ranking of the world's top ten most competitive economies.  A couple years ago, the United States ranked #1, a position it has held for a long time.  Then last year Switzerland took the top spot, leaving the U.S. in the #2 position.  This year, Sweden and Singapore have taken over the United States, leaving the U.S. in the #4 position.

Sweden Is A Better Place To Do Business Than The U.S. - Great Speculations - Buys, holds, and hopes - Forbes

Maersk to Use Cleaner Fuel in Hong Kong Shipping

Hong Kong has a pollution problem.  Air pollution there regularly soars above the levels deemed safe for humans by the World Health Organization.  A major contributor to the problem is the city's proximity to deep sea ports, and the ships that dock there.  Container ships that dock in Hong Kong as well as other Asian cities use bunker fuel, a cheap fuel that is high in sulfur and nitrogen.  When the same ships traverse European shipping lanes, however, they have to use a far cleaner low-sulfur fuel.  Now, Maersk shipping lines is voluntarily adopting the use of low-sulfur fuel for all its ships that dock in Hong Kong port.  The move will cost the company $1 million a year, and already other companies have said they will follow suit.  The most interesting thing about this story is that the Hong Kong government had nothing to do with this move to clean up the air.  It dd, however, issue a statement that it welcomed the move.

Maersk to Use Cleaner Fuel in Hong Kong Shipping - nytimes.com

Lack of Security Leads Japanese to Seek 2nd Jobs

An interesting phenomenon is taking shape in Japan, long known as the land of lifelong job security.  The workplace is transforming, more companies are willing to let workers go, and salaries have stagnated or declined. As a result, more and more Japanese, such as Hiroko Yokogawa (above), are taking on second and third jobs.  In fact, a startling 17% of workers between 20 and 50 have a side job.
Lack of Security Leads Japanese to Seek 2nd Jobs - NYTimes.com

Red Shirts Test Thai Limits

Months after a deadly government crackdown on Thai protesters, the "Red Shirts" are regrouping and re-organizing.  This weekend, they held a rally in Pattaya that drew 4000 people and featured a telephone call from their leader, ousted former Prime Minister Thaksin Shinawatra.  Whether this means the Red Shirts will escalate their demands again or whether this is a limited display remains to be seen.  One thing's for sure -- efforts at healing and reconciliation in Thailand will remain slow and measured.

Red Shirts Test Thai Limits - WSJ.com

Hon Hai Looks to China's Interior

If you've never heard of Hon Hai before, you should. Hon Hai is the world's biggest electronics contract manufacturer. Its factories produce iPads, iPhones, and other PCs, videogame consoles, printers, cell phones and other electronics for Dell, HP, Sony, Nokia, and Nintendo. The company's revenue will reach $85 billion this year, and it has grown tremendously -- it is 30 times bigger than it was a decade ago, and this year has cut back it's forecast growth -- from a historical trend of 30% to "only" 15%. In China, Hon Hai is the largest private employer and the third largest employer overall. Now, the company is betting big in China, with plans to invest $3.5 billion in new facilities in China's inland. Within two years, 50% of Hon Hai's workers will be in inland China, up from 20% today. Eventually, the company expects it will have 1.5 million employees on its workforce.


Hon Hai Looks to China's Interior - WSJ.com

Toyota Feels Exchange-Rate Pinch as Rivals Gain

The Japanese Yen is at a 15-year high against the US dollar, and a 9 year high against the Euro.  While this makes it a nice time to be a Japanese tourist going to the U.S. or Europe, it's killing Japanese manufacturers like Canon and Sony.  For a large industrial powerhouse like Toyota, it's a real crisis.  Toyota, which imports 35% of its American-sold vehicles from Japan (Honda only imports 10%), is going to lose more money with currency losses than the massive recall it recently conducted to fix accelerator pedals.

For every yen that the Japanese currency gains in value against its assumed dollar rate of ¥90, Toyota says, it loses ¥30 billion, or $357 million, in operating profit. If the exchange rate stays at the current ¥84 to a dollar, Toyota’s operating profit for its financial year ending next March, which the company forecasts will reach ¥330 billion, could fall by half.

Toyota Feels Exchange-Rate Pinch as Rivals Gain - NYTimes.com

Currency Trading Hits $4 Trillion

Currency trading volume has hit a whopping $4 trillion worldwide, a 20% gain from the $3.3 trillion last recorded in 2007.

Currency Trading Hits $4 Trillion - WSJ.com