In The News

Faces of Globalization

Jong-Heon Lee July 1, 2004
Korean films have recently experienced increased popularity such that they now control 70 percent of the domestic market share, a figure which is up from 35.1 percent in 2000. Whereas, in the past, South Korean films were of poor quality and attracted few viewers, now the industry is producing blockbusters like "Taegukgi" (the South Korean national flag) which not only fared well...

East Asia and Bumpy Sino-Taiwanese Relations

Jusuf Wanandi July 1, 2004
With the Taiwan’s presidential election over the issue of its relations with China has receded from the public attention. This inattention, a leading Indonesian commentator Yusuf Wanandi says, could lead to the eruption of a dangerous conflict between China and Taiwan, affecting the stability and prosperity of all of East Asia. He says that the Taiwanese President Chen Shui Bian has decided on...

China Seeks Low-Cost Drugs for AIDS Patients

Jason Leow June 30, 2004
HIV-AIDS in China has now infected almost a million people, according to official statistics. With at least 80,000 suffering from full-blown AIDS, the Chinese government is trying to find cheaper ways to treat them. Patented drugs from global pharmaceutical companies can cost up to 40,000 yuan a year – many times the average annual income in China. Under the rules of the World Trade...

Fake Medicine Lurks on Consumer Shelves

Rambabu Garikipati June 29, 2004
If you get sick in South Korea, make sure the medication you buy is the real thing. In a recent raid on 123 pharmacies in Seoul, police seized millions of won in counterfeit pharmaceuticals. Local authorities and global drug companies say that fake drugs are easily available in Korea, but questions remain as to whether most are locally produced or smuggled in from China. Although customs...

Taiwan Urged to Buy US Weapons

Charles Snyder June 23, 2004
In April 2001, US President George Bush proposed to sell Taiwan a weapons package to help protect itself against possible attacks by China. This week, a Taiwanese delegation made a three-day visit to Washington to discuss the prospects for buying such a weapons package. This article in the Taipei Times reports that the delegation discussed with top defense and State Department officials Taiwan...

Terrorism Could Cost East Asia 3% in Growth over 5 Years: Study

Donald Urquhart June 22, 2004
A study by Australia's Department of Foreign Affairs and Trade has found that the long-term economic effects of terrorist threats are substantial. The developing economies of East and Southeast Asia are most vulnerable to negative effects, the report says, as they are more dependent on exports and foreign direct investment than developed country economies. Economic growth in the region...

Roh Stands by Deployment of Korean Troops in Iraq

Seo Hyun-jin June 22, 2004
The government will not give in to terrorists demands, says the President of South Korea. Iraqi militants are threatening to kill a South Korean national they captured in Iraq if Seoul insists on sending more troops to the war-torn country, but President Roh Moo-hyun says his country will not waver. Beginning in early August, South Korea will send another 3,000 troops to the country, making it...