Category Archives: Asia

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An Unpleasant Surprise Coming

Recently, I bought gas for $2.10 per gallon, a very pleasant experience indeed. This would be a typical reaction for anyone in a market economy where cheap energy is essential for building a growing and completely diversified economy.  On the other side of the coin, there are many places where lower oil prices are not

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Should the UN Subsidize North Korea’s Oppressive Regime?

Frequently, I have made the observation that economic history reveals that the more a government spends out of the gross domestic product, the more miserable are its people. Now comes North Korea to help prove my point. SEOUL—The United Nations aid program for malnourished North Koreans may close after raising only a fraction of the

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How a Currency Equalization Tax Will Put Real, Useful Pressure on the Chinese Economy

To grasp the extent of the cumulative imbalances on the Chinese’s subsidizing their export economy, here is a look at Foreign Exchange Reserves.    Foreign Exchange Reserves  are a “[t]otal of a country’s gold holdings and convertible foreign currencies held in its banks, plus special drawing rights (SDR) and exchange reserve balances with the International Monetary