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On July 8, Philippine Defence Secretary Gilberto Teodoro and Japanese Foreign Minister Yoko Kamikawa signed the Reciprocal Access Agreement (RAA), enabling the two nations to jointly train troops and provide mutual aid during natural disasters. However, the full text of the RAA remains shrouded in secrecy, known only to the presidential palace and the agreement’s signatories.
This Week in Asia has not been able to verify the images and there has been no official comment from China.
Beijing’s strategy to boost trade relations with countries in the Global South to diversify away from closing Western markets has taken a hit with Indonesia’s announced intention to impose a 100-200% tariff on China’s labor-intensive goods.
It’s a widely accepted notion among economists that cultural differences can pose a significant barrier to trade. The larger the cultural gap between two countries – judging by differences in language, customs, values and business norms – the more challenging and costly trade relations become. This is a recurring theme in research.
NEW YORK/HONG KONG -- Chinese deal activity in the U.S. for the first half of the year sank to the lowest since 2006 as fraught relations between the two countries fuel tighter scrutiny of Chinese companies and further decouple the two economies.
Prime Minister Narendra Modi of India strolled alongside President Vladimir V. Putin of Russia under the trees at the Russian leader’s suburban residence as the sun set. He rode a golf cart along the paths, sipped tea during an hourslong chat and petted a horse on a visit to Mr. Putin’s stables, breathing in the calm of an estate that once belonged to the Romanov dynasty.
TAIPEI, Taiwan (AP) — Taiwan’s Defense Ministry said Saturday it was monitoring “waves of test-firing” by China’s missile unit in a region more than 1,600 kilometers (1,000 miles) from the self-ruled island and that its air force stepped up its alertness.