Japan’s relations with its immediate neighbors have taken a drastic dip in recent times. One major problem is the disputed territorial claims that Japan faces with China, South Korea and Russia.Japan controls Senkaku Islands (Diaoyutai in Chinese), a chain of islands also claimed by China and Taiwan. In early September 2010, Japanese patrol boats clashed with a Chinese fishing trawler near the isl

Viewpoints March 9, 2011

The 2012 presidential campaign is finally stirring to life, with would-be Republican candidates Haley Barbour and Mike Huckabee musing about whether Mitt Romney should be disqualified by similarities between Massachusetts’ Romneycare and Obamacare.As if on cue, President Barack Obama defended his health care overhaul in remarks to the nation’s governors by associating it with Romney’s, an embrace

Viewpoints March 9, 2011

Always eager for more revenue, the Taiwanese government is now seeking to take from the rich with a proposed new “luxury tax.” Estimated to be capable of generating NT$15 billion ($511 million) a year, the proposed new tax is intended to close the ever-widening wealth gap and curb real property speculation, which has been rampant since Taiwan’s economic fortunes began turning around last year.The

Viewpoints March 8, 2011

Around the world, authoritarian regimes have tried to keep their citizens from hearing news of the protests raging throughout the Middle East and in their own countries. Some have tried shutting down cellphone and Internet service, but that has only sparked new flames of anger and discontent.Even the Chinese government, which has unleashed the most sophisticated Internet blocking system in the wor

Viewpoints March 8, 2011

Economics is founded on the principle of gains from trade. If economic activity is considered as a kind of game, then all players are made better off when they cooperate. Of course, political science knows other types of “games,” notably the prisoner’s dilemma. In this situation, a player may be better off by refusing to cooperate. Hence a situation where prisoner’s dilemma is prevalent will foste

Viewpoints March 7, 2011

Financial institutions run into trouble when their officials exhibit a serious lack of morals. A case in point is the chaos at Shinhan Financial Group last year that was triggered by an internal feud among its three top executives. The trio staged a crippling power struggle in total disregard for the group’s reputation and the interests of its shareholders.The trio was ousted and the financial gro

Editorial March 4, 2011

Former Prime Minister Chung Un-chan appears to have learned no lesson from the Sejong City debacle last year. Upon his appointment as prime minister in September 2009, Chung staked his political career on a bill aimed at changing the concept of the planned city from an administrative town to a science-technology hub.Chung, a former Seoul National University economics professor, went in all guns bl

Editorial March 4, 2011

Libyan leader Muammar Gadhafi remains an obsession for advocates of decency. He personifies what is unknowable about the uprisings roiling the Arab world. What does the revolution mean, besides being an outlet for rage? What new order might emerge? After unwanted leaders are removed, what is there to stop like-minded individuals from insinuating themselves into power? Of what enduring value could

Viewpoints March 4, 2011

As of January this year, Taiwanese travelers can visit the Schengen Area visa-free, marking yet another step toward the island’s goal of acquiring wider visa exemption privileges for its passport holders.The inclusion of the European Union brings the number of countries and territories offering Taiwanese citizens visa exemptions to 96, with 75 granting Republic of China passport holders visa-waive

Viewpoints March 4, 2011

The Obama administration put out a disturbingly weak statement last week after the latest piracy outrage off the coast of Somalia. Four Americans vacationing on a 58-foot yacht died during a standoff between a U.S. warship and the pirate crew that seized their vessel.Secretary of State Hillary Clinton called the act deplorable, which it was, but what did she urge? More “decisive action” by the “in

Viewpoints March 3, 2011

The Obama administration predictably is taking heat from conservatives about its restrained response to the crisis in Libya. There are even calls for a U.S. military response to hasten dictator Muammar Gadhafi’s departure. While well meaning, these critics seek short-term action that ignores substantial longer-term consequences.The administration’s initial restraint was appropriately designed to p

Viewpoints March 3, 2011

If per capita carbon emissions in China and India rose to car-happy U.S. levels, global emissions would increase by 127 percent, according to the International Energy Agency. If their emissions stopped at the levels found in hyper-dense Hong Kong, world emissions would go up less than 24 percent. As the Asian economies prosper, the United States should hope that they embrace the skyscraper more th

Viewpoints March 3, 2011