Posted on Friday, September 9, 2011
by Jessica Drun
A weekly compilation of underreported events in Asia
Chinese officials stated that the yuan will be fully convertible by 2015, according to E.U. business executives who met with the delegation. This was revealed soon after China pledged its commitment to create an offshore yuan market in London.
The South Korean defense ministry reported North Korea has been developing GPS jammers and electromagnetic pulse bombs, capable of disrupting communication networks. Further investigation found that the DPRK has been using these devices on South Korean GPS systems and even on a U.S. military aircraft.
The Indian government plans to tackle its trade imbalance with China by calling for an action plan that aims to draw in Chinese investment while increasing tariffs and raising trade barriers.
A U.S. delegation led by Derek Mitchell—U.S. special envoy to Burma— makes its first visit to Naypyidaw to meet with the newly-formed government and democratic leader Aung San Suu Kyi. Mitchell will raise the issue of the country’s poor human rights record to Burmese leaders.
Despite the ongoing tension over territorial disputes, the Philippines and China are moving forward with cooperation in oil exploration ventures in the Spratly Islands. The initiative is headed by Sino Petroleum with the approval of the Philippine government and will be conducted under its bylaws.
Violence continues in the southern provinces of Thailand as Islamist separatists target moderate Muslims, Buddhist monks, and government supporters. Their goals are unclear; though analysts believe the guerillas are vying for control of the region’s rubber plantations and aiming to set up sharia law.
The Democratic Progressive Party’s presidential candidate, Tsai Ing-wen has chosen Su Jia-chyuan, as her running mate. Su is expected to help garner critical votes from central Taiwan.
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