Thursday, July 31, 2014

Korea’s Status as Strong Shipbuilding Power Shaken

A shipyard located in China.
A shipyard located in China.
31 JULY 2014
The Korean shipbuilding industry, which used to be the world’s best, has been shaken. China, once considered far below Korea, is aggressively chasing the country's industries, so Korean shipbuilding companies cannot win orders. The situation is becoming even more serious, as there is a huge loss in the offshore plant areas believed to create high added value.
According to the report on the rapid growth of Chinese shipbuilding and offshore industries and its implications by the Korea Institute for Industrial Economics and Trade on July 30, China scored the world’s number one in new vessel orders, shipbuilding volume, and remaining order amounts both in 2012 and 2013.
- See more at: http://www.businesskorea.co.kr/article/5684/shipbuilding-crisis-korea%E2%80%99s-status-strong-shipbuilding-power-shaken#sthash.xVFr5x4e.dpuf
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Asia’s Leaders and Economic Soft Power



Indonesia has elected Jakarta governor Joko “Jokowi” Widodo as its new president. He joins the ranks of new Asian leaders such as Prime Ministers Narendra Modi of India and Shinzo Abe of Japan and Chinese President Xi Jinping, who with their nationalist yet outward looking growth-oriented agendas and rapid decision making are striving to redefine Asian power and identity. These countries and their new leadership could well put Asia into the driver’s seat. Not only do they represent more than one-third of the world’s population, they are also a group of fast growing economies.
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Cambodian Defense Delegation Visits Thailand Amid Tensions


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Narendra Modi to Visit Nepal


Economists Pick Through the Bank of Korea’s Toolkit


‘Cold battle’ for Africa: China’s economic interest vs. US military activity

A C-130 U.S. Air Force plane lands as Nigerien soldiers stand in formation during the Flintlock military exercise in Diffa, March 8, 2014 (Reuters / Joe Penney)
A C-130 U.S. Air Force plane lands as Nigerien soldiers stand in formation during the Flintlock military exercise in Diffa, March 8, 2014 (Reuters / Joe Penney)
Both China and the US are trying to broaden and deepen their influence in Africa, with China dominating the continent economically, whereas the US is more pro-active militarily, Asia Times journalist Brendan O'Reilly told RT.
RT:What does the US hope to achieve with the upcoming summit?
Brendan O'Reilly: Essentially the US is trying to broaden and deepen its influence in Africa right now. The US has many interests in Africa, especially economic, and what we see a lot now is politics and military. Right now the US troops are in a broad swath of the African nations from Mali in the west all the way through to the Central African Republic, Ethiopia into Somalia, and there is a major US military base in Djibouti now, and since 2008 the US has established the US Africa Command to coordinate military activities in Africa.
RT: What are the key factors that attract foreign investors to Africa?
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Russia’s Strategic Pakistan Play


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Asian Countries To Spend $100B On New Airports As Passenger Traffic Grows


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Japan’s Second Quarter Slump Could Be Worse Than ‘97


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Monday, July 28, 2014

Likelihood of Korea becoming a country with more external assets than external debts


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Asia Times Online :: WHO slams Seoul on failure to track traditional medicine

Asia Times Online :: WHO slams Seoul on failure to track traditional medicine


Cambodia’s Ongoing Human Trafficking Problem


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South Korean Teens Describe Harrowing Escape From Sinking Sewol Ferry

A man stands in front of an altar dedicated to the missing and dead passengers on board the capsized Sewol ferry, at a port in Jindo, April 28, 2014.  REUTERS/Kim Kyung-Hoon
Thomson Reuters
A man stands in front of an altar dedicated to missing and dead passengers on board capsized Sewol ferry, at port in Jindo
ANSAN South Korea (Reuters) - Six teenagers who survived South Korea's worst maritime disaster in 44 years told on Monday how classmates helped them float free as water flooded their cabins despite crew instructions to stay put even as their ferry sank, killing more than 300 people.
The teenagers, whose names were withheld to protect their privacy, were giving testimony at the trial of 15 crew members, who face charges ranging from homicide to negligence for abandoning the sinking ship.
"We were waiting and, when the water started coming in, the class rep told everyone to put on the life vests ... the door was above our heads, so she said we'll float and go through the door and that's how we came out," one of the teenagers said.
"Other kids who got out before us pulled us out."
The ferry Sewol sank on April 16, killing 304 people, as many as 250 of them school children on a field trip. Twelve of their teachers were also killed.
The ferry was on a routine trip from the port of Incheon south to Jeju island, carrying students and teachers from the Danwon High School on the outskirts of Seoul as well as other passengers and cargo.
Another of the teenagers told how crew members had told passengers, "specifically the students of Danwon High School", to stay in their cabins.
"Water started to fill in and friends helped us move out," the student said.
Others described how coastguard officers waited outside the stricken ferry for passengers to swim out rather than go into the ship to try and rescue them.