| This year, some Asian countries are holding national elections. According to this week's Asia Insight, Cambodia, which expects national elections in July, might see the rise of a new prime ministerial candidate. Prime Minister Hun Sen, who has led the country for nearly 40 years, has positioned his eldest son to take his place and is now preparing for Hun Manet's political debut in the next election. The story goes deep into the analysis of how carefully Hun Sen is laying the groundwork for a steady transition of power. Our Business Spotlight is about online casinos whose operations are based in the Philippines, where there is an ongoing debate about banning them. Cliff Venzon, who wrote the story, traveled to a casino on Island Cove, south of Manila. He describes how online casinos are run without actual players on site. Due to the online nature of the casino, it is possible to gamble from anywhere; I have seen it advertised in Japan as well. However, many customers are in China, where casinos are banned. The story explains that the debate in the Philippines has a lot to do with China. Online casinos could operate under the radar, and there have been concerns that they can be a source of revenue for criminal groups. This week, Nikkei Asia for the first time won an international human rights journalism prize, for an investigation and report by Dominic Faulder that reveals how the casino-based underworld operates along the Thai border in Cambodia, Laos and Myanmar. While global attention focuses on further financial instability in the U.S., where a third bank has failed, our latest Market Spotlight explains why China's stock market is underperforming. Although the financial turmoil originating in the U.S. and Europe has so far not reached the country, there remains uncertainty about the state of the Chinese economy due to mounting local debt and the geopolitical tensions between China and the U.S., among other factors. Lastly, from the Life & Arts section, this week's Tea Leaves column by John Krich also focuses on historical remnants, in Taiwan. The island is often discussed in the context of the geopolitical situation, such as U.S.-China tensions. It is also admired as a powerhouse that turns out crucial semiconductors and other tech products. But John's piece talks about how Taiwan has managed to combine the more ennobling aspects of Chinese traditions, the most pleasant expressions of Japanese culture and the most easygoing and rebellious touches of America. |
