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Asia Unbound

CFR experts give their take on the cutting-edge issues emerging in Asia today.

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Showing posts for "Corruption"

Friday Asia Update: Five Stories From the Week of September 30, 2016

by Guest Blogger for Elizabeth C. Economy
pyongyang-womencrossdmz Female activists from around the world representing the group WomenCrossDMZ arrive at Pyongyang airport in Pyongyang, North Korea, in this photo taken and released by Kyodo, May 19, 2015. (Kyodo/Reuters)

Rachel Brown, Sherry Cho, Samir Kumar, Gabriella Meltzer, David O’Connor, and Gabriel Walker look at five stories from Asia this week.

1. Women activists urge Ban Ki-moon to formally end Korean War. Over 100 women activists from thirty-eight countries are putting pressure on United Nations Secretary-General Ban Ki-moon to formally end the Korean War prior to the end of his tenure on December 31, 2016. Read more »

Four Ways to Unilaterally Sanction North Korea

by Scott A. Snyder
Trucks move across the bridge linking North Korea with the Chinese border city of Dandong in this March 3, 2016 file photo. China on Tuesday, April 5, 2016, banned imports of gold and rare earths from North Korea as well as exports to the country of jet fuel and other oil products used to make rocket fuel, a move in line with new United Nations sanctions on Pyongyang. (REUTERS/Megha Rajagopalan) Trucks move across the bridge linking North Korea with the Chinese border city of Dandong in this March 3, 2016 file photo. China on Tuesday, April 5, 2016, banned imports of gold and rare earths from North Korea as well as exports to the country of jet fuel and other oil products used to make rocket fuel, a move in line with new United Nations sanctions on Pyongyang. (REUTERS/Megha Rajagopalan)

It has been almost three weeks since North Korea conducted its fifth nuclear test, but China and the United States have not yet reached agreement on the text of a new UN Security Council resolution condemning the country. Read more »

Friday Asia Update: Five Stories From the Week of September 16, 2016

by Guest Blogger for Elizabeth C. Economy
delhi-mosquito-net A boy covered with a mosquito net sleeps in a cot on a hot summer day in New Delhi, India, April 18, 2016. (Anindito Mukherjee/Reuters)

Rachel Brown, Sherry Cho, Lincoln Davidson, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Delhi battles major chikungunya outbreak. Over 1,000 people have fallen ill and at least twelve have died due to a major outbreak of chikungunya in Delhi. Chikungunya, a mosquito-borne virus similar to Zika and dengue, is typically not fatal, but can cause debilitating joint pain along with fever, fatigue, and nausea. Health minister J. P. Nadda has assured the Indian public that chikungunya did not cause the fatalities, but rather exacerbated deadly illnesses that were already ailing the elderly. Read more »

Friday Asia Update: Five Stories From the Week of July 29, 2016

by Guest Blogger for Elizabeth C. Economy
Xi-Putin-meeting Chinese President Xi Jinping shakes hands with his Russian counterpart Vladimir Putin during a welcoming ceremony in Beijing, China, June 25, 2016. (Mikhail Klimentyev/Reuters)

Rachel Brown, Sherry Cho, Lincoln Davidson, Bochen Han, Theresa Lou, and Gabriella Meltzer look at five stories from Asia this week.

1. China and Russia to hold “routine” naval exercises in the South China Sea. China’s Ministry of National Defense announced on Thursday that China and Russia have scheduled cooperative naval exercises in the South China Sea for September. While China also stated that the naval exercises will be aimed at strengthening Russian-Chinese cooperation and are not directed at any other country, the announcement comes at a time of intensified strain between China and other Asian nations due to rival claims in the South China Sea. Read more »

Friday Asia Update: Five Stories From the Week of July 22, 2016

by Guest Blogger for Elizabeth C. Economy
Loretta-1MDB U.S. Attorney General Loretta E. Lynch announces the filing of civil forfeiture complaints seeking the forfeiture and recovery of more than $1 billion in assets associated with an international conspiracy to launder funds misappropriated from a Malaysian sovereign wealth fund 1MDB in Washington, July 20, 2016. (James Lawler Duggan/Reuters)

Rachel Brown, Lincoln Davidson, Bochen Han, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Justice Department announces action against 1MDB. The ongoing scandal surrounding Malaysian state investment fund 1MDB took a dramatic turn this week when the U.S. Justice Department announced plans to seize $1 billion in assets as part of an investigation into money laundering and funds improperly taken from 1MDB. While the fund was intended to boost Malaysia’s development, some of the money appears to have instead gone toward enriching Prime Minister Najib Razak, his stepson, and other associates. Read more »

The Impact of the U.S. Justice Department 1MDB Announcement on Malaysian Politics

by Joshua Kurlantzick
U.S. Attorney General Loretta E. Lynch announces the filing of civil forfeiture complaints seeking the forfeiture and recovery of more than $1 billion in assets associated with an international conspiracy to launder funds misappropriated from a Malaysian sovereign wealth fund 1MDB in Washington on July 20, 2016. (James Lawler Duggan/Reuters) U.S. Attorney General Loretta E. Lynch announces the filing of civil forfeiture complaints seeking the forfeiture and recovery of more than $1 billion in assets associated with an international conspiracy to launder funds misappropriated from a Malaysian sovereign wealth fund 1MDB in Washington on July 20, 2016. (James Lawler Duggan/Reuters)

I could write a six hundred word blog before getting to the point here, but I will get right to it: The 1MDB asset seizure is likely to have minimal impact on Malaysian domestic politics. To recap … the U.S. Justice Department this morning announced it was filing “civil-forfeiture complaints against more than $1 billion of assets allegedly acquired using funds misappropriated from a Malaysian economic development fund,” known as 1MDB, according to the Wall Street Journal, which has extensively covered the 1MDB saga. Read more »

Friday Asia Update: Five Stories From the Week of July 8, 2016

by Guest Blogger for Elizabeth C. Economy
Dhaka-ceremony People attend a candle light vigil for the victims of the attack on the Holey Artisan Bakery and the O'Kitchen Restaurant, in Dhaka, Bangladesh, July 3, 2016. (Adnan Abidi/Reuters)

Rachel Brown, Lincoln Davidson, Bochen Han, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Dhaka attacks designed to “reverberate globally.” Bangladesh is still reeling from last Friday when at least five Bangladeshi men stormed the Holey Artisan Bakery in Dhaka’s affluent Gulshan neighborhood and unleashed horror within. Read more »

Friday Asia Update: Five Stories From the Week of June 17, 2016

by Guest Blogger for Elizabeth C. Economy
Tokyo Governor Yoichi Masuzoe bows deeply as he delivers his resignation speech at Tokyo metropolitan government assembly session in Tokyo, Japan on June 15, 2016. (Toru Hanai/Reuters) Tokyo Governor Yoichi Masuzoe bows deeply as he delivers his resignation speech at Tokyo metropolitan government assembly session in Tokyo, Japan on June 15, 2016. (Toru Hanai/Reuters)

Lincoln Davidson, Bochen Han, Theresa Lou, Gabriella Meltzer, Ayumi Teraoka, and James West look at five stories from Asia this week.

1. Prominent Chinese lawyer facing possibility of lifetime imprisonment. The Chinese police have recommended prosecution on a charge of “subverting state power” for Zhou Shifeng, director of the Beijing Fengrui Law Firm whose arrest last summer invigorated a campaign to discredit and dismantle networks of rights-focused defense lawyers who have attempted to challenge the government. Zhou’s law firm took on many contentious cases about legal rights, representing the likes of dissident artist Ai Weiwei and Uighur academic Ilham Tohti. Read more »

How Could the Philippines’ Money Laundering Woes Affect Overseas Workers?

by Guest Blogger for Elizabeth C. Economy
Salud Bautista (R), president of PhilRem Service Corporation, a remittance and money changer company, answers questions from Senators, beside her lawyer, during a Senate hearing of money laundering involving $81 million stolen from Bangladesh's central bank, at the Philippine Senate in Manila April 19, 2016. REUTERS/Erik De Castro TPX IMAGES OF THE DAY Salud Bautista (R), president of PhilRem Service Corporation, a remittance and money changing company, answers questions from senators during a hearing at the Philippine Senate in Manila on money laundering involving $81 million stolen from Bangladesh's central bank on April 19, 2016. Greater scrutiny of PhilRem could have implications for other Philippine remittance services around the world. (Erik De Castro/Reuters)

Rachel Brown is a research associate in Asia Studies at the Council on Foreign Relations.

In February, $81 million stolen from the central bank of Bangladesh’s account at the Federal Reserve Bank of New York was laundered through the Philippines. Most observers worried about the security of the institutions involved. But equally if not more important is the potential impact on overseas Filipino workers. Increased scrutiny of vulnerabilities in the Philippines’ anti-money laundering provisions could make it harder for the over ten million Filipinos working abroad to send remittances home, as has occurred in many other developing nations. Globally, the Philippines is the third-highest recipient of remittances, which compromised 10 percent of GDP in 2014. These funds help fuel domestic consumption, and anything that affects the cost or ease of sending money to the nation will have significant economic implications. Read more »

Upheaval in South Korea’s National Assembly: Expect More Surprises

by Scott A. Snyder
Members of South Korean ruling Saenuri Party react as they watch a live TV broadcast reporting the results of parliamentary elections at the party headquarters in Seoul April 13, 2016. (Reuters/Jung Yeon-je/Pool) Members of South Korean ruling Saenuri Party react as they watch a live TV broadcast reporting the results of parliamentary elections at the party headquarters in Seoul April 13, 2016. (Reuters/Jung Yeon-je/Pool)

The first rule of watching South Korean elections is the same as the first rule for watching Korean TV dramas: be prepared to be surprised. In this respect, South Korea’s 2016 National Assembly electoral result delivered, as virtually no one predicted the magnitude of the failure of the ruling Saenuri party or its major standard bearers. The results left the former majority party in second place at 122 seats, well short of the 151 seats needed to exercise a majority in the 300-seat National Assembly. The first place Minjoo or Democratic Party of Korea, pruned by the departure of entrepreneur-turned-National Assemblyman Ahn Cheol-soo, who started his own People’s Party, captured 123 seats to become the largest party in the National Assembly. Ahn’s own start-up experience proved sufficient to lead the newly-established People’s Party to a better-than-expected thirty-eight seats, primarily centered in Korea’s southwestern Jeolla region. Read more »