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September
Japan welcomes Taiwan bid to join trade pact, citing shared values
Written by Nur Yasmin
Japan on Friday welcomed Taiwan's application to join a trans-Pacific trade pact, citing shared democratic values with the island, which China claims as its own.
Japanese officials' appreciation of Taiwan's values with regard to democracy and rule of law contrasted with Japan's cautious reaction to China's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
"We consider Taiwan a very important partner with which we share fundamental values such as freedom, democracy, basic human rights and rule of law," Economy Minister Yasutoshi Nishimura told a news conference. Japan is chairing the pact this year.
Taiwan made the application on Wednesday, angering China, which views the island as one of its provinces with no right to the trappings of a state. read more
Speaking in the northern Taiwanese port city of Keelung on Friday, Taiwan President Tsai Ing-wen said the tech-powerhouse island was already well prepared to join the bloc.
"Joining CPTPP will strengthen Taiwan's key global strategic and economic and trade status, and further integrate us with the world," she said.
While Japan said Taiwan's application would need to be scrutinised against the trade pact's strict standards, the positive reaction stood in contrast to a cautious response to China's application last week.
Japan's Deputy Prime Minister Taro Aso expressed scepticism about China's chances, citing strict rules related to state-owned enterprises.
Japan's Chief Cabinet Secretary Katsunobu Kato sidestepped a reporter's question on Friday about the different reactions to the applications, declining to go into specifics on Japan's position on China but referring to values shared with Taiwan.
The chief government spokesman added that under the trade pact's rules, membership was open to Taiwan, noting that it was already an independent member of the World Trade Organization and Asia-Pacific Economic Cooperation forum.
The original 12-member trade agreement, known as the Trans-Pacific Partnership (TPP), was seen as an important economic counterweight to China's growing influence.
But the TPP was thrown into limbo in 2017 when then-U.S. President Donald Trump pulled the United States out of the pact.
Britain has also applied to join the 11-member CPTPP and Nishimura said the first meeting to discuss its bid would take place on Sept. 28. (Reuters)
September
S.Korea urges more testing over fear of holiday COVID-19 surge
Written by Nur Yasmin
South Korean authorities warned people returning from a holiday to get tested even for the mildest COVID-19 type symptoms, especially before clocking in for work amid a new surge in coronavirus cases in and around the capital.
The country, which has been grappling with a fourth wave of infections since early July, will on Friday roll back the allowance gatherings during the Chuseok holiday week to two people after 6 p.m. in the greater Seoul area.
Seoul saw 1,400 daily confirmed cases on average last week, up 11% from a record high of 1,268 the prior week, Vice Health Minister Kang Do-tae said on Wednesday.
Kang urged those returning from the three-day holiday, which started on Monday, to get tested to prevent transmission.
South Korea's popular tourist island of Jeju saw an average of more than 41,000 visitors a day during the holiday, up from about 32,000 in the same period last year, the Jeju Tourism Association told Reuters. More than 258,000 people have visited the island in six days.
Despite the high daily case numbers, the mortality rate and severe cases have remained relatively low and steady at 0.83% and 312 respectively as of Wednesday, Korea Disease Control and Prevention Agency (KDCA) data showed.
The KDCA reported 1,716 new COVID-19 cases on Wednesday, raising the total to 292,699 infections, with 2,427 deaths.
South Korea struggled to get vaccine supplies initially, but has supercharged its campaign in recent months, administering 71.2% of the 52 million population with at least one dose through Wednesday and fully inoculated 43.2%. (Reuters)
September
Vietnam willing to share information with China for its bid to join CPTPP
Written by Nur Yasmin
Vietnam said on Thursday it is willing to share its experience and information with China for the world's second largest economy's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
"The CPTPP is an open free trade agreement," Foreign Ministry spokeswoman Le Thi Thu Hang said at a regular press briefing.
Vietnam is a member of the CPTPP, which is a free trade agreement that also links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Singapore.
"Vietnam will consult with other CPTPP members on the recent requests to join this agreement," Hang said in her comment on a request to join the trade pact from Taiwan. (Reuters)
September
Thailand seeks to slash quarantine period for visitors
Written by Nur Yasmin
Thailand's disease control committee has proposed a halving of a two-week hotel isolation requirement for vaccinated arrivals, amid delays in plans to waive quarantine and reopen Bangkok and tourist destinations from next month.
Thailand is keen to welcome back foreign visitors, after nearly 18 months of strict entry policies caused a collapse in tourism, a key sector that drew 40 million visitors in 2019.
"Reducing the quarantine is not only about tourism, but will help business travel and foreign students," senior health official Opas Karnkawinpong told a news conference, adding tests would also be required.
Under the proposal, to be presented to government on Monday, those without vaccination proof would be isolated for 10 days if arriving by air, and 14 days if by land.
Authorities this week delayed to November plans to grant vaccinated visitors entry without quarantine, due to the country's low inoculation rate.
Only Phuket and Samui islands currently waive quarantine for vaccinated tourists, as part of a pilot scheme.
Less than a quarter of the estimated 72 million people living in Thailand have been fully vaccinated.
The country is still fighting its most severe wave of infections, which has accounted for about 99% of its 1.5 million cases and 15,884 deaths. (Reuters)
September
Seoul warns of debt hangover as apartment price growth hits 15-yr high
Written by Nur Yasmin
A senior South Korean official on Thursday called for greater efforts to manage the country's excessive borrowing, saying problems at China Evergrande served as an example of the debt issues economies could face as they scale back stimulus.
Lee Eog-weon, a vice finance minister, said South Korea should "pre-emptively manage default risks that could arise from excessive leveraging and risk-taking," citing a potential Evergrande default as the kind of incident that could arise as central banks globally unwind pandemic-era monetary policy.
Koreans have been borrowing more than ever before, and South Korean policymakers are increasingly worried the debt pile could become unsustainable as rates rise, hurting people's purchasing power and long-term growth. The central bank raised its benchmark interest rate for the first time in almost three years in August.
Lee's comments come after data last week showed home prices in the capital region, home to about half of the country's population, jumped 13.11% this year through August. That was the fastest increase in 15 years and up from an annual increase of 9.8% last year, according to the Korea Real Estate Board.
The monthly pace of home price gain also accelerated to a 13-year high.
Dozens of loan curbs and tax measures over the past five years have done little to curb the home buying frenzy. Household borrowing hit a record 1,805.9 trillion won ($1.54 trillion) in the June quarter.
Global investors have been on tenterhooks in recent weeks as debt payment obligations of Evergrande, labouring under a $305 billion mountain of debt, triggered fears its malaise could pose systemic risks to China's financial system. Markets were keeping a close eye on China's second-largest real estate developer to see if it will be able to pay interest on one of its dollar bonds due on Thursday.
"At a time when nothing seems to be working to cool the debt binge, the lesson from Evergrande is that crisis will come around when you have a lot of debt," said Park Sang-hyun, an analyst at HI Investment & Securities.
"I'm unaware of direct exposures Korea has, but any instability in the Chinese economy will hurt Korean growth momentum too," Park said.
Home affordability has also become a problem is South Korea, data from Kookmin Bank showed.
The average price of a Seoul apartment has roughly doubled in the past five years to 1.18 billion won ($999,236) as of August this year, data from Kookmin Bank showed.
An apartment in Seoul now costs more than 18 years' worth of South Korea's median annual household income, up from 11 years when President Moon Jae-in took office in 2017, according to the bank. (Reuters)
September
Taiwan jets scramble again as China air force enters air defence zone
Written by Nur Yasmin
Taiwan's air force scrambled again on Thursday to warn off 19 Chinese aircraft that entered its air defence zone, Taiwan's defence ministry said, the latest uptick in tensions across the Taiwan Strait.
The Chinese aircraft included 12 J-16 fighters and two nuclear-capable H-6 bombers, the ministry added. (Reuters)
September
WHO urges international donors to resume Afghanistan health funding
Written by Nur Yasmin
The World Health Organisation's representative to Afghanistan called on the international community on Thursday to resume funding of the war-torn country's health program which was suspended when the Taliban took over governing the country, as the healthcare system had plunged into crisis.
The deteriorating situation underscored the dilemma faced by many international donors, many of which are reticent to fund the Taliban-led administration, some of whose members are on international sanctions lists, but fear that the country is veering towards a humanitarian crisis.
"In the recent weeks, access to health care has significantly declined for hundreds of thousands of some of the most vulnerable Afghans," Luo Dapeng, WHO's representative to Afghanistan, said at a press conference in Geneva.
"The country's already-fragile health system is overwhelmed," he said, adding they were coordinating with donors to find alternative funding mechanisms for health facilities.
International governments have pledged millions in urgent humanitarian aid but questions remain over longer term development and other funding to an economy highly dependent on international assistance. Billions of dollars in central bank assets held outside the country have also been frozen.
A roughly $600 million three-year health project administered by the World Bank in Afghanistan has funded the operation of hundreds of health facilities, and WHO estimated less than a fifth were now fully functional. That has contributed to a surge in cases of measles and diarrhoea, with half of Afghan children at risk of malnutrition and millions of COVID-19 vaccines sitting unused, Dapeng said. (Reuters)
September
Indian prime minister to meet U.S. company CEOs during U.S. visit
Written by Nur Yasmin
Indian Prime Minister Narendra Modi, who is due to holds talks with U.S. Vice President Kamala Harris on Thursday, will also meet chief executives of several U.S. companies, including Qualcomm (QCOM.O) and Blackstone (BX.N), two sources said.
During his White House meeting with Harris, Modi is expected to discuss the COVID-19 pandemic, greater cooperation in technology, space and other sectors, and supply chain issues, the sources with knowledge of the matter told Reuters.
In addition, he will meet with the chief executives of companies such as Adobe (ADBE.O), First Solar (FSLR.O) and General Atomics, the sources said.
Modi is also due to join a four-way summit at the White House involving President Joe Biden and the leaders of Australia and Japan, a meeting that aims to boost cooperation in the Indo-Pacific region amid China's growing dominance in the area. (Reuters)
September
UN commissioner urges international effort on Myanmar 'before it is too late'
Written by Nur Yasmin
The United Nations High Commissioner for Human Rights on Thursday warned of a human rights catastrophe under military rule in Myanmar and urged the international community to do more to prevent conflict from worsening.
"The national consequences are terrible and tragic – the regional consequences could also be profound," Michelle Bachelet said in a statement.
"The international community must redouble its efforts to restore democracy and prevent wider conflict before it is too late."
Myanmar has been in turmoil since the military seized power on Feb. 1, ending a decade of tentative democracy and prompting outrage at home and abroad at the return of military rule.
More than 1,120 people have been killed since the coup, according to the United Nations, many during a nationwide crackdown by security forces on pro-democracy strikes and protests, during which thousands have been arrested.
Armed resistances forces have formed in various regions, which have clashed with the military, prompting many thousands to flee, including to neighbouring India in recent days.
Bachelet said troops had used weapons against civilians that were intended for military conflict and carried out "indiscriminate airstrikes and artillery barrages".
Local media in Myanmar reported deadly violence in at least five different regions and states on Thursday, which included the use of home-made bombs by militias allied with a shadow government, which earlier this month called for a "people's defensive war" against the junta.
The military has called those "terrorists" whose campaign will fail.
Western countries have condemned the junta and imposed targeted sanctions, but critics say a tougher stand must be taken, including an arms embargo.
Bachelet said Myanmar had failed to deliver on its agreement with the Association of Southeast Asian Nations (ASEAN) to cease violence and start dialogue.
"This underscores the urgent need for strong accountability measures. It also runs in the face of commitments made to ASEAN leaders," she said. (Reuters)
September
Myanmar town near India border sees exodus as thousands flee fighting
Written by Nur Yasmin
Most of the population of a Myanmar town near the Indian border have fled after buildings were set ablaze by artillery amid fighting between militia forces opposed to military rule and the army, according to residents and media reports.
About 10,000 people normally live in Thantlang in Chin State, but most had left to seek shelter in surrounding areas including some in India, a community leader said.
Myanmar has been in turmoil since a government led by pro-democracy veteran Aung San Suu Kyi was toppled on Feb. 1, sparking nationwide anger, strikes, protests, and the emergence of anti-junta militia.
During fighting between militia forces and the army last weekend, about 20 homes were set ablaze, with photographs on social media showing buildings engulfed in flames.
Soldiers shot dead a Christian pastor who tried to extinguish a blaze, the Myanmar Now news portal reported, although state media disputed the report.
The Global New Light of Myanmar said the death of the pastor was being investigated and that soldiers had been ambushed by about 100 "terrorists" and both sides exchanged fire.
Militia fighters had overrun an army base earlier in September and the military responded with air strikes, said Salai Thang, a community leader, who said four civilians had been killed and 15 wounded in recent weeks.
The Chin Defence Force, a militia opposed to the military, said in a statement 30 soldiers had been killed.
Reuters could not independently confirm any of the claims and a military spokesman did not answer calls seeking comment.
A relative of the dead pastor told Reuters that most people had fled the town, although a handful of households remained including about 20 children in an orphanage run by the pastor.
"The murder of a Baptist minister and bombing of homes in Thantlang, Chin State are the latest examples of the living hell being delivered daily by junta forces against the people of Myanmar," Thomas Andrews, U.N. special rapporteur on human rights in Myanmar, said in a message on Twitter this week.
There has been an upsurge in bloodshed in areas like Chin State after the National Unity Government, a shadow underground administration set up by opponents of the military, declared an uprising on Sept. 7 and called on the new militia, known as People's Defence Forces (PDF), to target the junta and its assets.
The attempts by the PDFs to take on the well-equipped army have often resulted in civilians being caught in cross fire and forced to flee.
Community leader Salai Thang said he was deeply concerned about the displaced people who were sheltering in nearby villages and some in India's Mizoram state.
"Those refugees are now badly struggling for food and shelter," he said by telephone. (Reuters)