Asia News Roundup: Australia, China, Maldives…

With the excitement, dust, heat and frenzy generated by the US presidential elections seemingly behind us, the recent developments in Asia and other parts of the world deserve attention. The Economist, as usual, leads other world publications in bringing to us news stories in an insightful and succinct manner.

First, how Australia and China facing the global financial crisis? Well they seem to be joining hands… During my five-month stay in Australia, it was clear that Mr Kevin Rudd’s government was focusing mainly on two countries for closer relations: China and India (in that order).

China’s appetite for its minerals offers Australia some shelter from the storm, writes The Economist. “China’s demand for the Pilbara’s minerals to feed its insatiable steel mills has been a bedrock of Australia’s boom for much of this decade.

“With the onset of the global financial crisis, the region is now proving crucial to whether Australia can defy the fate of other rich countries and avoid a recession.” More here…

Can China, the world’s fastest-growing economy, avoid a sharp downturn? “If China, the world’s third-biggest economy, can manage to sustain reasonably robust growth, it will help to cushion global output.

“A massive stimulus package of 4 trillion yuan (nearly $600 billion) announced by the government on November 9th was therefore widely cheered at home and abroad. Will it be enough to re-stoke the dragon’s fire?” More here…

The Economist has a fascinating story about Bhutan, a small country sandwitched between two mighty giants – China and India – where democracy and the king enjoy equal popularity. “Most Bhutanese would have preferred to preserve royal rule, but loyally obeyed the king’s order to rule themselves.” More here…

If Bhutan is a tourist paradise in the Himalayas, Maldives is a fascinating Asia’s smallest country in the Indian Ocean. “The residents of the Maldives, however, face collective homelessness as a result of rising sea levels, which are expected eventually to engulf the 1,200-island nation, whose highest point is 2.3 metres above sea level.

“Faced with this alarming prospect, the country’s new president, Mohamed Nasheed, has come up with an equally dramatic solution: put aside some of the Maldives’ tourism revenues to buy another homeland. At first blush Mr Nasheed’s notion seems a bit over the top. Countries don’t usually go round purchasing large lumps of other nations.

“The only precedent he cites—Jews buying up bits of Palestine before Israel was established—does not inspire confidence that his plan would increase world harmony.

“And since the rich countries that caused the climate to change and the seas to rise can easily absorb the Maldives’ 370,000 people, it seems reasonable to assume that Mr Nasheed and his compatriots will be offered citizenship elsewhere. Reasonable, but wrong…” More here…

Finally,the LA Times report about Myanmar (formerly Burma): “Myanmar’s military regime handed down harsh prison sentences to 14 pro-democracy activists Tuesday, a slap in the face to the United Nations and foreign governments that have demanded reforms from the ruling generals.” More here…