Content about Asia

A day before the Boao Forum for Asia (BFA) annual conference kicks off on April 6 in the eponymous former fishing village in China’s Hainan province, now widely known due to the event, the Nobel Prize winning economist Edmund Phelps puts forward a “provocative” question.

At the curtain-raising panel discussion on April 5 that features questions by leading economists, the Nobel laureate asks: What do Asian business leaders believe to be the main obstacles to a boost of indigenous innovation in Asia? Do they lie in the government? Finance? Where?

Andrew McEvoy makes no apologies — he is passionate about Australia. “It’s a magnificent country. A country which has been taken for granted by many Australians,” the country’s tourism chief says.

“But all that is changing now. Australians have woken up to the fact that there is a lot to see and do right here … at home.”

At 48, some would say he has one of the best jobs in Australia.

Will Europe’s debt problems continue to weigh on Asia’s growth prospects?

The European sovereign debt crisis will continue in 2013, albeit less intensely, and austerity policies have to be pursued.

As the EU27 represents broadly 30 percent of global trade, export-based economies in Asia will suffer.

Commodity prices will remain stable with global demand affected by the persisting effects of a negative shock in Europe. As a result, inflationary pressures should remain muted in Asia.

Despite a late-afternoon rally, Chinese stocks slumped to their lowest level in 2013 on Monday, with sectors such as aviation and hospitality hit hardest by the bird flu scare.

The market opened after the three-day holiday break down 1.31 percent on the previous close. Prices stabilized somewhat after the lunch break, with the Shanghai Composite Index closing at 2,211.59, down 0.62 percent from 2,225.30 on the last trading day before the holiday. Daily turnover reached 73.7 billion yuan ($11.9 billion), up from 68.8 billion yuan previously.

Pyongyang suspended its sole remaining major project with Seoul on Monday after weeks of threats against the United States and the Republic of Korea, as Russian President Vladimir Putin said any nuclear conflict may make Chernobyl look like a fairy tale.

Pyongyang said on Monday it will suspend operations at the Kaesong industrial complex, pulling out more than 53,000 workers and moving closer to severing its last economic link with the ROK.

Cooperation between China and Africa is stronger than ever, with China planning to beef up investment in Africa and Chinese companies starting to consider moving abroad, top economists and former officials have said.

"Now is the best period for Asia, especially China, to cooperate with Africa. There will be a surge of cooperation in not only quantity but also quality," said Wei Jianguo, former vice-minister of commerce and current secretary-general of the think tank China Center for International Economic Exchange Center.

Despite the massive purchasing power Chinese tourists have shown overseas, a recent survey found travelers from China paid less than those from elsewhere for their hotel rooms in more than half of the countries contacted.

The report, conducted by hotels.com, a leading online accommodation booking website with almost 200,000 properties around the world, found most of the discounts in Europe, triggered by the troubled situation in the eurozone, according to Jessica Chuang, its senior marketing manager for Greater China.

The Confucius Institute of Kabul University reopened on Sunday after being closed for 18 months, marking the enhanced Sino-Afghan cultural exchanges.

Addressing the reopening ceremony, Xu Feihong, Chinese ambassador to Afghanistan, congratulated the Confucius Institute on its comeback to this war-hit nation, saying it marks significant progress in relations between the two nations.

With no deal in sight and remaining differences between Iran and the world powers over the Islamic republic's nuclear issue after the latest round of talks in the Kazakh city of Almaty, analysts said both sides demonstrate "positive will and gestures" to keep the diplomatic track alive for further negotiations.

President Xi Jinping called on Sunday for more cooperation with Australia in bilateral economic ties and promoting stability in the Asia-Pacific region.

China and Australia's common interests, space for cooperation and common responsibilities are increasing amid the complicated and changing international and regional situation, Xi told Australian Prime Minister Julia Gillard in a meeting on the sidelines of the Boao Forum for Asia Annual Conference 2013 held in Hainan province from Saturday to Monday.

No country should be allowed to damage world peace or throw a region into chaos for selfish gains, President Xi Jinping said on Sunday.

The remark shows China's determination to maintain regional peace as tensions in northeastern Asia run high, analysts said.

"Countries - big or small, strong or weak, rich or poor - should all contribute their share in maintaining and enhancing peace," Xi said at the Boao Forum for Asia Annual Conference 2013, which attracted more than 2,500 political and economic leaders from around the globe.