| Hello from Tokyo. We are entering the busiest season of the year 2022. The Twentieth National Congress of the Chinese Communist Party is almost a week ahead, and the midterm elections of the U.S. are a month ahead. In the meantime, North Korea is launching missiles more frequently than ever, and the war in Ukraine has entered a new phase since Russia claimed the annexation of four regions. Among many geopolitical or political events, I think the most important one is the imminent risk of nuclear war. The more Ukraine regains once-invaded lands, the more Russia is tempted to use its nuclear weapons to change the course of battle. The results of the NCCCP, U.S. midterm elections and North Korean nuclear tests would be predictable to some degree, but the outcome of the use of nuclear weapons is beyond our imagination. It is a global issue that Asian media like Nikkei Asia have a responsibility to cover. We will closely watch and report the development of the situation in the Ukraine War section. Many of the items are free to read. We should be particularly keen to the words of Russian President Vladimir Putin in this phase. Our Big Story this week covers Asian central banks and their monetary policies. Among them, I am particularly interested in the People's Bank of China's dovish stance, because this means China does not take inflation as seriously as other central banks, except the ultra-loose Bank of Japan. Chinese leaders are probably more concerned about bad loans by the banking sector in the real estate industry than inflation. This indicates the vulnerability of the Chinese economy. On the other hand, India and Southeast Asia appear to be more resilient. Stock price charts in Market Spotlight are good examples showing that Southeast Asia outperforms Northeast Asia and the rest of the world. According to our Asia Insight, Thailand, Singapore and Malaysia have sophisticated programs to attract foreign talents and professionals. I am looking forward to delivering brighter news from these regions. Business Spotlight has a good report on U.S. President Joe Biden's ambitious CHIPS and Science Act in practice. As the authors point out, "not every state will be a winner." Of the 50 states, New York, Texas, and North Carolina seem to be winners. Looking back at the past to foresee the future, China Up Close has a wonderful story to preview the NCCCP. The author Katsuji Nakazawa points out three important rules in Chinese politics: "The first is that important foreign policy decisions can be linked to intraparty power struggles. Secondly, Shanghai is often at the forefront of party infighting in which losers are purged mercilessly. Thirdly, even those with absolute power remain suspicious of their deputies." This is a truly insightful story which I strongly recommend. Lastly, I recommend an excellent obituary of Japan's legendary professional wrestler, or "pro-wrestler," Antonio Inoki. The author Robert Whiting has a deep knowledge of subcultures in post World War II Japan, and his anecdotes about Inoki and his mentor Rikidozan and the little-known backstage drama of the match between Inoki and Muhammad Ali were just stunning. A good obituary has a charm that even a reader who did not know the deceased very well could enjoy, and this is a superb example of a good obituary. | 
