Taipei, Taiwan — Friday marked a historical moment for Chinese on both sides of the Taiwan Strait, as more than 700 tourists from five cities in mainland China flew non-stop to Taiwan – the first beneficiaries of an agreement to allow direct weekend charter flights between the island and the mainland.

Manila, Philippines — Nuclear power is not necessarily evil and dangerous; it is one solution to the energy woes of many countries. But the Philippine experience in building a nuclear plant during the oil crisis of the 1970s was a fiasco that should not be emulated. The plant didn’t generate a single watt of electricity.

Shenzhen, China — Less than 50 days before the Beijing Olympics open, a bank official announced that the People's Bank of China may be circulating counterfeit banknotes. This sent shockwaves around China, as what was supposed to be China’s Olympic heyday was suddenly threatened by a possible scandal over fake money.

Toronto, ON, Canada — The rapid increase in oil prices and the rise in metal and mineral demand worldwide have made the Russians overconfident as their annual cash income has grown fourfold. The Russians have become somewhat politically belligerent and are reneging on earlier deals they feel are not in their best interest.

Tokyo, Japan — As Japan prepares to host the Group of Eight Summit in ten days’ time, it appears the agenda will shift from climate change to rising prices, reflecting world concerns over the prices of food and oil. Still, Japan hopes to push for a post-Kyoto framework to include all major carbon-emitting nations.

Seoul, South Korea — South Korea's economy is expected to further slide this year in the wake of high-flying energy costs and a global economic slowdown with mounting inflationary pressure. Many economists forecast just over 4 percent economic growth, far below President Lee Myung-bak's much-touted target of 7 percent.

Toronto, ON, Canada — Punjab is India’s granary – there is no other granary like it anywhere in the world. A small area in the northwest, it is irrigated by three rivers from the Himalayas. In the crop year 2007-08, Punjab has produced 27 million tons of food grain on less than 1 million hectares of land.

Seoul, South Korea — Despite a state-run drive to revive its flagging economy following its nuclear weapons test, North Korea's economy shrank for a second straight year in 2007, fueling doubts about the viability of its autarkic, command economy, with global sanctions still in force.

Toronto, ON, Canada — It is unlikely that the planned massive pipeline from Iran to India will be built in the next ten years. The same is true for the pipeline from Central Asia to India via Afghanistan and Pakistan. But in the last five years, Central Asia has emerged as a new reservoir of oil and gas.

Manila, Philippines — Worldwide initiatives to combat global warming have failed to reverse this trend. They do not address the real roots of climate change - neoliberal globalization and the "mad pursuit" of transnational companies for profits. The People’s Protocol on Climate Change takes a new approach.

Seoul, South Korea — A $10 billion spending package highlights South Korea's efforts to shield its people from the impact of soaring oil prices, but unlikely to satisfy angry consumers, with looming strikes by truckers and other unionized workers.

Seoul, South Korea — South Korea's exports expanded at the fastest pace in almost four years in May on strong sales of ships and petroleum products, easing concerns that a global economic slowdown would damage the country's export-driven economy.

Kolkata, India — It is no secret that the demands of rapid industrialization have driven China to scout for minerals and resources in almost every corner of the globe. But China is also hunting for resources within its borders, giving rise to a booming mining industry and opening up opportunities for foreign investment.

Toronto, ON, Canada — It is possible that inflation in India, which has climbed to 7.61 percent, could bring down the existing government. Elections are due at the end of the year, and inflation is the number one election issue. If this government cannot control it in the next three months, it may not survive.

Seoul, South Korea — The fate of a hard-won free trade accord between South Korea and the United States is in jeopardy as a controversial U.S. beef import deal has unexpectedly bolstered reluctance in legislative bodies on both sides.

NAKHONRATCHASIMA, Thailand — Recently the owner of a 2000 Mercedes Benz C240 pulled into a local repair center in Thailand complaining of a non-working gas gauge. The mechanic asked, "Have you filled the tank with ethanol-based gasoline? That can damage the sensors." Lesson: don't use ethanol.

Toronto, ON, Canada — In recent months, hedge funds, pension funds and other group investment vehicles, which strive for maximum return in minimum time, have turned the commodity market upside down. Recent price rises of all commodities including food grains are a testament to their manipulation.

Tokyo, Japan — A Japanese expert on international finance warned Thursday that China's social imbalances may undermine its continued robust economic growth. Former Vice Minister Makoto Utsumi said China had neglected egalitarian socialist principles in its rush to expand its economy.

Seoul, South Korea — South Korea's current account recorded a deficit in March for a fourth consecutive month due to soaring fuel import costs and higher commodity prices, sounding the alarm about Asia's fourth-biggest economy already struggling with slowing domestic demand.

Toronto, ON, Canada — Hail the Myanmar junta for finally balancing its relationship with India. Previously it had played favorites with China by giving it oil and gas contracts in the Bay of Bengal. But with the recently finalized Kaladan-Sittwe river transportation project, Myanmar has balanced the odds in India's favor.

Kolkata, India — Despite the apparent political and economic bonhomie between the two countries, it seems that Indo-China tensions refuse to die. India has just announced a new policy making it mandatory for Chinese power equipment companies to set up shop in India in order to sell their wares here.

Seoul, South Korea — East Asia's economies have been integrating. This once seemed unlikely, but recently free trade agreements have been making a breakthrough, heightening the possibility of such a community including Southeast Asian nations, China, Japan and South Korea.

Manila, Philippines — Last week, Philippine President Gloria Arroyo announced that she was amenable to grant Filipino workers a much-needed increase in their daily take-home pay to offset the ill effects of rising costs of rice and other basic needs. But Arroyo made a turnaround this week.

Seoul, South Korea — The business tycoon that owns South Korea's biggest conglomerate made a stunning announcement on Tuesday that he would step down as head of the Samsung Group after being charged with tax evasion and breach of duty. Lee Kun-hee, the country's most powerful businessman, has controlled the company since 1987.

Toronto, ON, Canada — Three billion people in Asia are the rice guzzlers of the world and they are facing a supply shortage. The long-term prognosis is not good. Until the world refocuses on increasing its food grain output and controlling the population, supply shortages, followed by food riots, are going to be the norm.

Seoul, South Korea — South Korea and the United States reached a deal on the import of U.S. beef on Friday, paving the way for leaders of the two countries to press ahead with the long-delayed ratification of a bilateral free trade deal. But the deal is likely to trigger an angry response from farmers.

Manila, Philippines — Rice is the staple food in Southeast Asia and in many parts of the world. The global rice crisis is an opportunity to review the food security programs of Southeast Asian nations. It is also time to minimize or even abandon the planting of biofuels or agrofuels.

Manila, Philippines — The intensifying rice and food crisis in the Philippines has raised speculations that food riots like those that rocked Haiti last week may soon hit Manila. This scenario is being discussed and debated among food experts and economic and political observers.

Guangzhou, China — This year is likely to be a difficult one for China's economy; the export business has been shrinking due to the appreciation of the Chinese yuan, among other things. This is going to make it harder for people to find jobs. One solution would be to encourage the export of labor.

Toronto, ON, Canada — Demand for copper, zinc, aluminum, nickel and all other nonferrous metals has scaled new heights in the last four years. Prices have sky-rocketed and traders are turning in huge profits. This demand for 12 years has been driven by China and now also, in the last four years, by India.

Manila, Philippines — According to the Philippine government, there is no shortage of rice in the country, with rice production up and imports meeting local demand. But prices are high and still rising, and government measures to ensure adequate rice supplies are merely palliative.

Seoul, South Korea — The family who runs South Korea's biggest business empire is facing the biggest challenge in decades as prosecutors have intensified their probe into suspected irregularities -- from bribery to illicit transfer of ownership and creation of slush funds.

Manila, Philippines — The price of rice is skyrocketing all over the world. This trend will continue until the end of the year, and it is causing panic in many Asian countries, including the Philippines. Rice is the staple food of Filipinos; remove it from the tables and there will be mass unrest.

Seoul, South Korea — South Korea has emerged as one of the preeminent free trade agreement negotiators in Asia since its conclusion of a trade deal with the United States last year. Since signing the FTA with the United States, South Korea has been showered with requests for similar agreements from Japan, China, Europe, Australia, New Zealand and India.

Seoul, South Korea — With mounting fears about fallout from a global economic slump, South Korea's President Lee Myung-bak has embarked on a battle to shield the economy from external shocks. Lee will place top priority on combating rising inflation caused by higher import costs of grains, energy sources and raw materials.

Manila, Philippines — Smuggling used to be confined to the Philippines' numerous private ports, but now it is prevalent even in the country's free ports. Smuggled products are shipped as ordinary goods and unloaded in broad daylight, flooding the markets and wiping out the earnings of small Filipino traders.

Toronto, ON, Canada — Rising wheat prices in the international market have outstripped oil price increases in the past year. Oil prices have increased 80 percent over the year; wheat prices have tripled. Wheat was US$4 a bushel a year ago; it is averaging $14 a bushel now, impacting importing nations like China and India.

Hong Kong, China — The Hong Kong government's decision to abolish duties on wine, beer and all alcoholic beverages, announced late last month, has stirred the imagination of local wine industry players, who envision the city becoming Asia's wine hub. Around US$7 billion per year is spent in Asia on table wines.

Kolkata, India — Suddenly the U.S. greenback has fallen out of favor. Tour operators and travel agents in and around India's Taj Mahal -- the monument of love -- are not in love with dollars anymore. They now prefer the euro or any other stable currency, after decades of saving greenbacks to resell at a handsome profit.

BEIJING, China — China's move to consolidate its bureaucracy into several "super ministries" got the most attention during this week's meetings of the National People's Congress and the Chinese People's Political Consultative Conference in Beijing. This goal cannot be achieved without supporting measures, however.

Seoul, South Korea — South Korean shares tumbled again on Friday as fears of a slowdown of Asia's fourth-largest economy have offset expectations of gains on Wall Street's overnight rebound. The country's benchmark KOSPI closed down 0.95 percent, erasing initial gains after investors continued to unload stocks.

Manila, Philippines — The Filipino people are outraged to learn that their government entered a deal with China to explore ocean territory around the Spratly Islands in connection with a Joint Marine Seismic Undertaking. The contract calls for joint seismic research, but also investigations into oil and gas deposits in the area.

Hong Kong, China — The world's third-largest jewelry fair, The Hong Kong International Jewelry Show, concluded Saturday on a glittering note for the host city, with jewelry exports surging despite poor performance in the United States, its biggest market. Exports overall recorded a healthy 17 percent rise, to US$4.3 billion.

Hong Kong, China — The world's third-largest jewelry fair, The Hong Kong International Jewelry Show, concluded Saturday on a glittering note for the host city, with jewelry exports surging despite poor performance in the United States, its biggest market. Exports overall recorded a healthy 17 percent rise, to US$4.3 billion.

Manila, Philippines — The Philippines is blessed with abundant natural resources. Food crops can easily grow in the country's fertile lands. But there are many Filipinos who are hungry today. Even farmers, who constitute a significant sector in Philippine society, are among the starving Filipinos.

Seoul, South Korea — The World Trade Organization has been seen as the central player driving world trade in the globalization era. But now free trade agreements are the new trend, like the South Korea-U.S. deal signed last year, aimed at strengthening their traditional alliance as well as promoting economic exchange.

Toronto, ON, Canada — With US$1.4 trillion in cash reserves, 70 percent held by the United States, China has great clout over the United States. The withdrawal of this money would send U.S. financial markets into a tizzy. If nothing is done about the U.S.-China trade imbalance, these reserves will one day rival the U.S. budget.

Seoul, South Korea — South Korea's incoming economic policymakers are facing a dilemma over how to shield the economy from mounting external shocks caused by global financial jitters and soaring energy prices. They want to take a set of stimulus measures, but such a move may backfire.

NEW YORK, NY, United States — The World Bank has named Chinese economist Justin Yifu Lin its senior vice president and chief economist. This is inappropriate. The bank selected Lin as an expert in China's economic development, but this development should not be seen as a model. It is in fact counter to modern trends.

Shanghai, China — Chinese media in January reported an ambitious plan to link mainland China and Taiwan by high-speed railway. It is the latest in a series of proposals to physically link the island with the mainland. The plan does not address political obstacles -- presumably these will be dealt with on a parallel track.