Under the Radar News 01.28.2011

Posted on Friday, January 28, 2011 by Sophia Tsirbas

A weekly compilation of underreported events in Asia

  • Singapore loses top spot on index for world's most globalized economies, falling to third, behind Australia and Hong Kong.

  • China believed to have collected fragments of downed US fighter during Kosovo war to develop their first stealth jet, the Chengdu J-20.

  • China spending on South-to-North Water Diversion Project hit 115 billion yuan. This project, started in 2002, will consist of three routes aimed at diverting water from mainly the Yangtze to the north. It is estimated that 330,000 residents of Hubei and Henan province will be relocated by 2014.

  • Google set to open up offices in Malaysia, its second in Southeast Asia. Internet usage has risen significantly in Malaysia, with 17 million users out of a population of 27 million.

  • In Japan, opposition parties respond to Prime Minister Kan’s call for policy discussions with a request of their own. The opposition asserts that they will agree to talks, only if Kan resigns.

  • Myanmar passes 'Special Economic Zone Law'to attract foreign investment. This new law follows other recent reforms including privatization of government assets and expansion of banking, shipping, agricultural, and telecommunication sectors.

  • African Development Bank chief economist speaks positively at World Economic Forum on Chinese investment in Africa. China’s investment and humanitarian aid are needed to develop the “last frontier.”

  • Pakistan and Afghanistan will establish a joint commission to combat terrorism. The commission, comprised of military, Foreign Office, and intelligence members, is a sign of strengthening cooperation and coordination between Islamabad and Kabul.

  • Japan approved additional loans for Vietnam worth 58 billion yen for poverty reduction, infrastructure development and energy projects. Japan continues to be the largest bilateral ODA (Official Development Assistance) provider to Vietnam.

  • The Pentagon will consider bolstering U.S. forces along the Pacific Rim, particularly in Southeast Asia, says spokesman. U.S. seeks to enhance its presence in the region through military facilities in Australia, Singapore, and Guam.
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