Asia Daily: September 27, 2023
News
North Korea tells UN: No choice but to accelerate building its self-defense. North Korea's United Nations envoy accused the United States and South Korea of pushing the Korean peninsula closer to the brink of nuclear war. As a result, North Korea stated that it had no choice but to further accelerate a build-up of its self-defense capabilities. The statement underscores the heightened tensions in the region and the challenges faced by diplomatic efforts to denuclearize the Korean peninsula. By Michelle Nichols for Reuters, September 26
China warns Philippines not to 'stir up trouble' over disputed reef. Beijing cautioned Manila following the Philippine Coast Guard's removal of a floating barrier at Scarborough Shoal, a disputed reef in the South China Sea. The barrier, allegedly placed by China, aimed to block Filipinos from a traditional fishing ground. The Philippines condemned its installation, and its removal has heightened tensions between the two nations. Channel News Asia, September 26
China remains uncommitted to Xi Jinping’s attendance at Apec summit as tensions persist. Beijing and Washington are in discussions regarding a potential meeting between Chinese President Xi Jinping and US President Joe Biden at the upcoming Apec summit in San Francisco. China's Foreign Minister Wang Yi and US national security adviser Jake Sullivan held talks earlier this month, but no firm commitments were made. South China Morning Post, September 26
Activist who called for royal reform jailed for four years in Thailand. Anon Nampa, an activist and lawyer in Thailand, has been sentenced to four years in prison after advocating for royal reform during protests three years prior. The charges originated from a protest in October 2020, during which Anon demanded the resignation of then Prime Minister Prayuth Chan-ocha and a new constitution. Al Jazeera, September 26
South Korean court denies arrest warrant for opposition leader Lee in corruption allegations. A judge in South Korea rejected an arrest warrant for opposition leader Lee Jae-myung over corruption claims. Lee, previously the mayor of Seongnam, faces allegations of unlawful favors and pressuring illegal payments to North Korea. He denies these claims, suggesting a political vendetta by the current government. The judge cited insufficient evidence for detainment. By Kim Tong-Hyung for AP News, September 26
China, S Korea, Japan leaders to hold first summit since 2019. China announced its agreement with Japan and South Korea to convene a summit between the leaders of the three nations "as early as possible." This decision followed a unique meeting of senior diplomats in Seoul. The last such summit occurred in 2019, with subsequent meetings hindered by diplomatic and historical disputes between Seoul and Tokyo. Japan Today, September 26
Singapore's central bank probes banks in $1.8 billion laundering scandal. Singapore's central bank announced on Tuesday its investigation into the involvement of banks in a S$2.4 billion ($1.75 billion) money laundering case. The Monetary Authority of Singapore is keen to ascertain if the implicated banks took all necessary measures to mitigate associated risks. This inquiry comes as part of the nation's efforts to maintain its reputation as a global financial hub. By Yantoultra Ngui for Reuters, September 26
Evergrande's billionaire chairman Hui is under police purveillance. Hui Ka Yan, the billionaire chairman of China Evergrande Group, is reportedly under police surveillance as the company faces a financial crisis. The move comes amid growing concerns over Evergrande's debt and its potential impact on China's economy. Authorities are closely monitoring Hui's activities, signaling the government's increasing scrutiny of the embattled property giant. Bloomberg, September 26
Long Form
Why Xi Jinping Doesn't Trust His Own Military. Xi Jinping's lack of trust in his own military is highlighted by the recent disappearances of senior Chinese generals, including the defense minister. These events reveal the limitations of Xi's power over the People's Liberation Army (PLA) and raise questions about the PLA's accountability and competence. Xi's mistrust could serve as a deterrent to initiating conflicts, as he may be uncertain that the military can effectively execute his orders. By Joel Wuthnow for Foreign Affairs, September 26
Taiwan’s Opposition Candidate Outlines Tougher New Strategy Against China. Hou Yu-ih, the Kuomintang (KMT) candidate for Taiwan's upcoming presidential election, recently visited the U.S. to articulate his positions on defense, foreign relations, and cross-strait policy. During his visit, Hou introduced the "3D Strategy," focusing on "deterrence, dialogue, and decreasing risk." This marks a significant shift in the KMT's traditionally softer stance towards China. Hou aims to strengthen Taiwan's national defense and deter the use of force by mainland China, emphasizing asymmetric warfare. He also advocates for a balanced approach that includes dialogue with China to defuse crises and ensure peace and stability. By Ray Wang for The China Project, September 26
Nepal and China Ink 12 Deals Despite Tensions Over Maps and Infrastructure Projects. Nepal and China have signed 12 agreements, including a memorandum of understanding on a feasibility study for a cross-border railway. The deals were signed during a meeting between Nepal's Foreign Minister Narayan Khadka and his Chinese counterpart Wang Yi. Despite ongoing tensions over disputed maps and infrastructure projects, both countries are keen to strengthen their bilateral ties. The agreements cover various sectors such as trade, tourism, and infrastructure development, aiming to enhance cooperation and mutual benefits. By Anil Giri for The China Project, September 26
Senior Nomura Banker Charles Wang Zhonghe Can Move Freely in China, He Just Can't Leave. Charles Wang Zhonghe, a senior banker at Nomura, is currently restricted from leaving China due to an ongoing investigation into his business activities. While he is not under arrest, the restriction highlights the risks that foreign executives face when operating in China. The case has raised concerns among international businesses about the unpredictability of China's legal system and its impact on foreign professionals. By James T. Areddy for The Wall Street Journal, September 26