Search

The article reports on an energy agreement formed by Japan and China in 2008 which, according to the author, could be a major step in the recent hostile relation between the two countries. Under the agreement, Japanese companies are allowed to invest in the natural gas fields development project in East China Sea. Meanwhile, Japanese Foreign Minister Masahiko Komura expects that there will be a long and difficult negotiations before the agreed joint natural gas exploration could begin.

The article reports on the plans of the center-left Democratic Party of Japan which is expected to trounce the ruling Liberal Democratic Party in the lower-house parliamentary elections in 2009. The party has disclosed its intention to seek greater independence from the U.S. and establish more trade agreements with its neighbors, particularly China. According to party leader Yukio Hatoyama, they are moving away from a unipolar world led by the U.S.

The article reports on a price increase that could benefit steelmakers who have access to significant iron-ore supplies such as those based in North America which has abundant reserves. It mentions Brazil's Cia. Vale do Rio Doce which won a 65% price increase for a key steelmaking ingredient from Japanese and South Korean producers. According to the article, such increase shows the heft global mining companies enjoy despite of a boom in commodity prices caused by fast global growth.

The article reports that a deepening fear of a U.S. recession has sent jitters to investors worldwide. Rumors of the biggest sell-off since the September 11, 2001 tragedy reverberated throughout Asia, Europe and back to the U.S. in a matter of days, sending the stock market in a virtual roller coaster ride as investors and stock brokers react to the U.S. economy. The market downturn has particularly hurt China, dampening investors' confidence in the government. Meanwhile, Japanese investors place the blame on the U.S. for the global stock market panic.