Page 2 n THE ASIAN REPORTER
ASIA / PACIFIC
January 21, 2019
Nissan unveils new Leaf car after delays
YOKOHAMA, Japan (AP) — Nissan is showing the beefed-up version of its hit
Leaf electric car as the Japanese automaker seeks to distance itself from the
arrest of its star executive Carlos Ghosn. The event at Nissan Motor Co.’s
Yokohama headquarters, southwest of Tokyo, was postponed when Ghosn was
arrested November 19. Ghosn has been charged with underreporting his
income. Tokyo prosecutors then extended his detention, adding breach of trust
allegations. Ghosn also made his first public appearance since his arrest and
denied each allegation in Tokyo District Court. The new 4.16 million yen
($38,000) Leaf e+ is about the same size as the model on sale, but has more power
and cruise range. The best-selling electric car competes against Tesla models
and the Bolt by General Motors.
South Korea seizes North Korean paintings due to sanctions
SEOUL, South Korea (AP) — South Korea says it stopped businessmen from
bringing in North Korean paintings in a potential violation of U.N. sanctions.
Observers say similar incidents could occur frequently as South Korea’s liberal
government is pushing for deeper exchanges with North Korea. The Korea
Customs Service said it has nine North Korean paintings that some
businessmen tried to bring in after their trip to Pyongyang last November. It
said those businessmen didn’t have required government permissions to take in
North Korean products. South Korean media said the paintings were purchased
from a North Korean art studio under U.N. sanctions. The Unification Ministry
couldn’t immediately confirm the report and said related government offices
would consult if any acts violating U.N. sanctions occurred.
China’s Huawei unveils chip for global big data market
BEIJING (AP) — Chinese telecom equipment giant Huawei has unveiled a
processor chip for data centers and cloud computing in a bid to expand into an
emerging global market despite western warnings the company might be a
security risk. The announcement came as Chinese vendors that rely on western
technology stepped up efforts to develop their own. Huawei Technologies Ltd.,
the biggest global maker of network gear and the No. 2 smartphone brand, said
its Kunpeng 920 chip is designed to process a growing flood of data from
smartphones, entertainment, and other services. The U.S., Australia, and some
other governments have labelled Huawei and other Chinese suppliers a security
risk and imposed curbs on use of their technology. Huawei has denied accusa-
tions it is controlled by China’s ruling Communist Party or facilitates spying.
Nepal, Japan agree to resume commercial flights
KATHMANDU, Nepal (AP) — Japan and Nepal have agreed to allow
state-run Nepal Airlines to resume flights between the two Asian nations. The
agreement was signed at the beginning of a two-day visit to Nepal by Japanese
Foreign Minister Taro Kono. No Japanese airlines fly to Nepal, and Japanese
tourists who visit Nepal and Nepalese students and workers who travel to Japan
have been forced to take indirect flights. Nepal Airlines discontinued its flights
to Japan several years ago because it did not have enough planes and officials
were involved in financial irregularities.
Japanese lawmaker under fire for LGBT comment
TOKYO (AP) — A Japanese legislator is drawing criticism for his comment
that “a nation would collapse” if everyone became LGBT (lesbian, gay, bisexual,
transgender). Remarks by Katsuei Hirasawa, a veteran lawmaker of the ruling
Liberal Democratic Party, were carried on Nippon News Network’s national
broadcast. Outrage popped up on social media. Hirasawa told a crowd in Yama-
nashi Prefecture in central Japan: “Criticizing LGBT would create problems,
but if everyone became like them then a nation would collapse.” He also said he
didn’t understand moves in Tokyo’s Shibuya Ward and other local areas to
recognize same-sex marriage. Same-sex marriages are not recognized in Japan
nationally. Politicians have struggled to deal with Japan’s low-birth rate with-
out success, mostly blamed on a lack of childcare and help for working women.
Bans dropped for two Cambodian opposition politicians
PHNON PENH, Cambodia (AP) — A veteran Cambodian politician and his
son have become the first among 118 opposition members banned from politics
for five years to have the restriction lifted. Kong Korm and his son, Kong Bora,
had their bans lifted when Cambodian King Norodom Sihamoni signed a royal
decree approving their application for restoration of political rights. The two
were among the members of the Cambodia National Rescue Party who were
banned from politics when the group was dissolved by court order in November
2017 on a contrived charge of conspiring with the United States to overthrow
Prime Minister Hun Sen’s government. The move against the opposition was
seen as the government’s effort to ensure it won last July’s general election in
which it swept all 125 National Assembly seats.
Bluefin sold for $3 million in first 2019 sale at Tokyo market
TOKYO (AP) — A 612-pound bluefin tuna sold for a record 333.6 million yen
($3 million) in the first auction of 2019, after Tokyo’s famed Tsukiji market was
moved to a new site on the city’s waterfront. The winning bid for the prized but
threatened species at the predawn auction was more than double the 2013
annual New Year auction. It was paid by Kiyomura Corp., whose owner, Kiyoshi
Kimura, runs the Sushi Zanmai chain. Kimura has often won the annual
auction in the past. Japanese broadcaster NHK showed a beaming Kimura, who
said: “The quality of the tuna I bought is the best.”
POLLUTION SOLUTION. New electric-powered taxis are charged at a public charging station in Shenzhen city
in south China’s Guangdong province. One of China’s major cities has reached an environmental milestone: an almost
all-electric-powered taxi fleet. The high-tech hub of Shenzhen announced at the start of this year that 99 percent of the
21,689 taxis operating in the city are electric. (AP Photo/Vincent Yu)
Giving up gas: China’s Shenzhen
switches to electric taxis
SHENZHEN, China (AP) — One of China’s
major cities has reached an environmental
milestone: an almost entirely electric-powered
taxi fleet.
The high-tech hub of Shenzhen in southern
China announced at the start of this year that
99 percent of the 21,689 taxis operating in the
city are electric. Last year, it still had 7,500
gasoline-powered taxis on the roads. A few can
still be found, but electric ones far outnumber
them.
The metropolis of 12.5 million is the second
to achieve this feat in China and the largest.
The northern China city of Taiyuan, with a
population of 4.3 million, has had only electric
taxis since 2016. Shenzhen’s bus fleet has been
all-electric since 2017. It’s one of 13 pilot cities
promoting alternative-energy public transport
to cut smog and develop the alternative-energy
industry.
Waning iPhone demand highlights
Chinese consumer anxiety
By Joe McDonald
AP Business Writer
EIJING — Apple’s $1,000 iPhone is a
tough sell to consumers in China
unnerved by an economic slump and
the trade war with the U.S.
CEO Tim Cook said in a letter to
shareholders that demand for iPhones is
waning and revenue for the last quarter of
2018 will fall well below projections, a decrease
he traced mainly to China.
The iPhone is Apple’s biggest product,
accounting for about 60 percent of its revenue
in the July-September quarter, the latest data
reported. Its stock had fallen 10 percent, the
worst drop in five years, wiping out about $75
billion in market value.
Apple is the latest company grappling with
increasing Chinese consumer anxiety. Other
brand names such as Ford Motor Co. and
jeweller Tiffany & Co. already have reported
abrupt declines in sales to Chinese buyers.
China still is one of the fastest-growing
economies, with 2018’s expansion forecast at
B
about 6.5 percent. But China’s tariff fight with
the U.S. and an avalanche of bad news about
tumbling auto and real estate sales are
undermining consumer confidence after two
decades of almost unbroken rapid growth.
“It’s definitely worrying,” said China
specialist David Dollar, senior fellow at the
Brookings Institution. “Overall, consumption
growth is slowing down in China.”
The Apple news shows how vulnerable
many big U.S. companies are to a slowdown in
China, especially as the world’s two biggest
economies seek to settle a contentious trade
dispute.
“It’s not going to be just Apple,” Kevin
Hassett, chairman of the White Council of
Economic Advisers, told CNN.
He said many companies have a lot of sales
in China and will “be watching their earnings
downgraded next year until we get a deal with
China. And I think that puts a lot of pressure
on China to make a deal.”
Emily Li, a 37-year-old advertising designer
in Beijing, said she is putting off replacing her
Continued on page 4
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Asian Currency
Exchange Rates
Units per U.S. dollar as of 1/18
Bangladesh Taka· ·
Cambodian Riel · ·
China Renminbi · ·
Fijian Dollar · · · ·
Hong Kong Dollar ·
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Indonesian Rupiah ·
Iranian Rial · · · ·
Japanese Yen · · ·
Laos New Kip · · ·
Malaysian Ringgit ·
Nepal Rupee · · · ·
Pakistani Rupee · ·
Papua N.G. Kina · ·
Philippine Peso· · ·
Russian Ruble · · ·
Saudi Riyal· · · · ·
Singapore Dollar · ·
South Korean Won ·
Sri Lankan Rupee ·
Taiwan Dollar · · ·
Thai Baht · · · · ·
Vietnam Dong · · ·
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83.274
3998.9
6.7765
2.0864
7.8434
71.211
14160
42016
109.74
8568.8
4.11
114.49
138.76
3.36
52.656
66.309
3.7504
1.358
1123.3
181.65
30.85
31.74
23263