Latest news with #FutureofAsiaforum
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
Letter from Nikkei Asia's editor: Asian leaders gather for Nikkei Forum as globalization frays
Hello from Tokyo. This week, Nikkei hosted our flagship annual conference, the Future of Asia forum. Political leaders from across the region, including Japanese Prime Minister Shigeru Ishiba, Cambodian Prime Minister Hun Manet and Bangladesh's interim leader Muhammad Yunus, attended the event. The conference marked its 30th anniversary this year, and Asia's economic and international landscape has undergone significant changes over the past three decades. Thirty years ago, I was a student preparing to leave Japan to study in the U.S., and the few years I spent at a university there -- one that welcomed many international students from Asia -- had a profound impact on my life. The Internet revolution, which gained momentum while I was studying abroad, made it easier than ever for people around the world to communicate. It was around that time that economic globalization, particularly in Asia, began to rapidly accelerate following China's entry to the World Trade Organization in 2001. When I was in Silicon Valley from 2006 to 2010 as a Nikkei correspondent, I interviewed many engineers and entrepreneurs who had moved there from Asia. The world felt exactly as Thomas Friedman described in his seminal book, "The World Is Flat." With the U.S.-China trade war and conflicts erupting around the world, the situation in Asia has unfortunately become increasingly siloed. Nations are struggling to strike a balance between the two superpowers. The administration of President Donald Trump is making it more difficult for international students to study in the U.S., alarming many students from Asia. What direction will Asian nations take over the next 30 years? To get a clearer picture, I encourage you to log on to Nikkei Asia and read what the region's political leaders had to say at the Future of Asia conference. My suggested reads 1. Uncertainty lingers over Indonesian President Prabowo Subianto's ambitious spending plans, as inflationary trade policies under U.S. President Donald Trump rattle global bond markets. While strong domestic bond ownership and healthy forex reserves offer some stability, the impact of tariffs on government revenue -- combined with Indonesia's legal cap on budget deficits -- could constrain Prabowo's fiscal agenda. 2. Thailand is trying to leverage its cuisine's global reputation to become an international hub for halal food production and exports. It is 10 months into a five-year drive to break into the world's top five global halal exporters by 2028 and become the "Halal Hub of ASEAN" by the previous year. The kingdom's tourism authorities are also supporting the initiative because they see it as a way to attract more visitors from Muslim-majority nations. 3. China's Huawei is behind efforts to build a chip chemical company capable of rivaling global leaders like Shin-Etsu Chemical, JSR, Merck, DuPont and Dow, Nikkei Asia has learned. The aim is to turn recently founded Zhuhai Cornerstone Technologies Co. into an "end-to-end" supplier, part of a radical attempt to develop a fully self-sufficient domestic chip supply chain. 4. South Korea will elect a new president on June 3 after exactly six months of chaos triggered by conservative former leader Yoon Suk Yeol's failed move last December to impose martial law. As polls point to a win for the progressive Democratic Party candidate, Lee Jae-myung, they also show voters saying their top priority is fixing the country's sputtering economy. 5. At Expo 2025 Osaka, a team of top Japanese composers has transformed the 155-hectare site into a living, breathing soundscape, with immersive music tailored to each zone and responsive to weather conditions. From celebratory festival sounds to meditative ambient compositions, the Expo's sonic environment subtly shapes every visitor's experience -- right down to the moment they leave. Through the lens This week's top photo pick: The Fairy Pool Scenic Area of Jiuzhaigou National Park, in the Tibetan and Qiang Autonomous Prefecture of China, is pictured on May 27. The Fairy Pool is called Nen'en Sangcuo in Tibetan, which translates to "a place where fairies bathe." (Photo by Getty Images) Check out more of our photo coverage here Wishing you a wonderful weekend!
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
Laos calls for 'Asia solidarity' amid Trump tariffs
TOKYO -- Laos President Thongloun Sisoulith said on Friday that Asia's strength lies in its ability to come together as one in times of difficulty, as uncertainty surrounding U.S. tariffs shows no signs of ending. When competition in the global trading system "leans toward protectionism, it disrupts the global equilibrium and heightens tensions," Thongloun said at Nikkei's annual Future of Asia forum on Friday. This "will lead to increased risk of armed conflict and tension," he said.
Nikkei Asia
4 days ago
- Business
- Nikkei Asia
Japan PM Ishiba calls for enhanced US security commitment in Asia
TOKYO -- Japanese Prime Minister Shigeru Ishiba stressed on Thursday that Asia needs an enduring U.S. commitment to the region, at a time of growing Chinese economic and security influence. "We must maintain the power balance in this region. We should not have a vacuum of power, which may lead to an unstable situation," Ishiba said at Nikkei's annual Future of Asia forum. "It is essential to continue and strengthen the U.S.'s commitment to this region."
Nikkei Asia
4 days ago
- Business
- Nikkei Asia
Japanese PM calls for enhanced US security commitment in Asia
TOKYO -- Japanese Prime Minister Shigeru Ishiba stressed on Thursday that Asia needs an enduring U.S. commitment to the region, at a time of growing Chinese economic and security influence. "We must maintain the power balance in this region. We should not have a vacuum of power, which may lead to an unstable situation," Ishiba said at Nikkei's annual Future of Asia forum. "It is essential to continue and strengthen the U.S.'s commitment to this region."
