Asia-Cast

Asia Cast for Wednesday 16th June

In this Bulletin…

- Higher pay in China for labourers;
- Indonesia’s 7.1 earthquake; and
- Japan to give billions in low APR loans.

But first we have our SOH focus on China.

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Soaring prices are causing workers throughout China to go on strike and demand higher pay. Some experts warn the demands are causing many small and medium-size businesses to shut down, says The Epoch Times.

Hong Kong media say the strikes have successfully resulted in minimum-wage increases in Chinese cities and provinces.

However, what looks to be the end of cheap labour in China, may also be the end of many businesses run by foreign investors as their profit margins narrow.

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A well-known pioneer in the Chinese democracy movement says quiet progress has been made in China. He cites an editorial series by our affiliate media The Epoch Times as having a strong underground impact.

He spoke with SOH in Copenhagen last week and shared his thoughts on China’s process of democratization among other things.

He said a redoubt against tyranny was established by The Epoch Times and that it began with encouraging quitting the Chinese Communist Party and their publication of The Nine Commentaries on the Communist Party.

To date, over 75 million people have renounced the CCP and its affiliated organizations.

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And now for the rest of today’s Asia Cast

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Heavy downpours have caused flash floods in several areas of Singapore on Wednesday.

Among the areas affected were Bukit Timah, Newton Circus and Scotts Road.

Some reports say water levels were knee-high and many vehicles and buses were stuck in the floods. Various roads were closed during the morning rush; many were late to work as traffic crawled at a snail’s pace.

In a two-hour period, more than 60 percent of the rainfall for in June fell during Wednesday morning’s downpour.

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Japan’s central bank has announced it will provide up to US$33 billion dollars in low interest loans. It says the aim is to spur economic growth.

Plans are to make the money available to commercial banks to encourage them to lend more to private businesses.

Reports say firms in growth sectors including energy, the environment and tourism will be targeted by the scheme. The Bank of Japan also said it would hold interest rates at near zero percent. Rates have remained at 0.1 percent since the end of 2008.

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

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A 7.1 magnitude earthquake has struck eastern Indonesia on Wednesday. A local tsunami warning was given triggering panic as people fled their homes, say officials.

The quake struck southeast of Biak Island, West Papua right after a 6.2 quake had struck the same area.

An Indonesian weather agency issued a local tsunami warning but a Hawaii-based tsunami warning centre said no Pacific-wide wave was expected.

No major reports of damage in the thinly populated area near the quake were made.

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India is planning to send troops to help end a two-month road blockade in the state of Manipur. The blockade has been maintained by tribal groups in the north-eastern state.

Many of the groups refuse to back down. They are protesting against a government ruling to stop a separatist leader from visiting his birthplace in the state.

Officials have grown concerned as the blockade has led to shortages of food and medical supplies to local residents.

Officials have yet to meet and decide whether force will be used to clear the blockade.

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And we now bring you the Shen Yun quote of the day

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