Asia-Cast

Asia Cast for Monday 4th January

In this Bulletin…

- Economists say Beijing is guilty of protectionism;
- Japanese government offers national airline extra credit ; and
- Natural disaster areas declared as flooding hits Australia’s east.

But first we have our Shen Yun quote of the day

[audio]

For more information please visit
www.shenyunperformingarts.org.

Our SOH focus on China is next

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Chinese state media has said an explosion at a fireworks factory killed nine workers and injured eight others. The blast destroyed seven workshops at the factory in Shaanxi Province.

State media said the factory manager fled after the explosion. Police have launched a search for him.

China has a huge fireworks industry that is notorious for its lax safety standards.

The central government has announced a number of campaigns in recent years to make the industry safer. But the drive for profits means accidents continue to occur. Mostly at illegal or poorly run workshops.

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Some economists believe China is using protectionist measures to give its exports an unfair advantage. Two economists who spoke to NTDTV said Beijing was underrating the Chinese currency and dumping low priced commodities on overseas markets.

In December 2009 the US announced an increase in the tariff on some Chinese steel. The European Union also extended an anti-dumping measure on Chinese leather shoes in December 2009.

Beijing has complained about the actions of both the US and the European Union. Accusing them of protectionism.

But one economist told NTDTV that many Chinese products are cheaper in the US than they are in China. Another said that placing anti-dumping duties on Chinese exports levelled the playing field.

The Epoch Times has more details on this story.

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And now for the rest of today’s Asia Cast

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Japan has agreed to double the amount of credit being offered to the national airline. The Japanese government has said it will make up to 200 billion yen, that’s 2.2 billion US dollars, available to Japan Airlines.

A state-run bank offered Japan Airlines aid of 100 billion yen in November 2009. over half of that has already been paid out.

The airline has made a loss in four of the past five years. Its share price fell to record lows last week as speculation mounted it would file for bankruptcy.

The announcement was made before trading resumed on the Tokyo Stock Exchange on Monday, after the New Year’s holiday.

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North Korea’s state-run media said tens of thousands of people converged in central Pyongyang in support of the government’s policies for 2010.

The Korean Central News Agency said Premier Kim Yong Il was among the government officials who attended the rally.

State media said more than 100,000 people attended the rally in Pyongyang on Saturday.

The communist government laid out its policies for 2010 in a special editorial published on New Year’s Day. State media said that in the editorial North Korea stated its commitment to lasting peace and a nuclear-free Korean peninsula.

Analysts are unsure if Pyongyang will follow-up the statement with firm action on ending its nuclear programme.

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“You’re listening to Asia Cast on the SOH Radio Network”

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According to media reports in Russia and Tajikistan a 5.1-magnitude earthquake hit eastern Tajikistan on Saturday.

Russia’s RIA Novosti news agency said the quake has left about 20,000 people homeless. The RIA Novosti report said over 1,000 mud dwellings were destroyed in two villages in Vanj district.

The district is believed to be among the worst affected by the earthquake. A hospital and two schools were among the buildings destroyed.

According to Tajikistan’s Asia Plus news agency the deputy head of Vanj district said no deaths had been reported.

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Parts of New South Wales in Australia have been declared natural disaster areas after days of heavy rains and flooding.

Up to 1,200 people were moved from the outback town of Coonamble on Sunday. The evacuation order was issued because of concerns about the state of levees holding back a nearby river.

Despite the damage, a number of farmers welcomed the rains, which follow a long drought.

The floods come after summer wildfires wreaked havoc on the other side of the country. Last week, wildfires threatened the city of Perth in Western Australia after razing dozens of homes and consuming thousands of acres of land.

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“Asia Cast… keeping you across the top headlines from Asia and the World.”