China and the Khmer Rouge

Published on Dec 17, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — On a 300 hectare expanse in a remote part of central Cambodia, a massive airstrip capable of handling the heaviest of bombers lies abandoned. A Cold War relic, the 1.4 kilometer runway has rarely been used. Still, it goes to the heart of an enormous travesty. Ey Sarih knows this full well and has stood guard at the airstrip’s gates for more than 20 years. At 46 years of age, he has three children and a wife who runs a small roadside drinks shop. And he remembers very clearly the Khmer Rouge and what they did here. Read more in The Diplomat. .

Vietnam: Club Together

Published on Dec 15, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — Tuesday night’s English Club, held in a near-empty café in Hanoi’s suburbs, began like this: First, we introduced ourselves and played a game. As we went around the circle we had to give our name, then think of an adjective beginning with the same first letter. Then each person had to recite those who had come before. Read more in The Economist. .

If China’s Property Bubble Bursts

Published on Dec 9, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — In October, Beijing announced that four city and provincial governments – Shanghai, Shenzhen, Zhejiang and Guangdong – would be allowed to start issuing bonds for the first time in China’s history.  Zhejiang is expected to issue $8 billion yuan in bonds, including half three-year bonds and half five-year bonds. The proceeds are intended to fund infrastructure projects already under construction. But why now?  What was the impetus for this unusual step? Quite simply, it’s a financial pacifier – recent central government policies aimed at cooling down real estate have hurt local governments, who rely on land sales and development fees as their most important sources of revenue.  As these revenues fall, local governments will become increasingly....

Khmer Rouge: It was Vietnam!

Published on Dec 9, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — Old hatreds die hard, and nowhere has this been more evident than at the trial of surviving Khmer Rouge leaders in Phnom Penh. It has been an historic week, with former ideologue Nuon Chea taking the stand while Former Foreign Minister Ieng Sary and one-time head of state Khieu Samphan watched on. Nuon Chea attempted to portray himself as a noble Khmer. As a young man, he said he had developed a “passion for justice” after witnessing the harsh handling of Cambodian peasants by the Colonial French and rich landowners who “treated them as slaves,” His resentment of the rich and French was surpassed only by the Vietnamese, who he insisted wanted only to swallow Cambodia....

ASEAN Gets Euro Warning

Published on Dec 7, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — If Italy fails to meet its sovereign debt commitments falling due in January and February, then the world may finally witness the doomsday economic scenario many fear is looking inevitable. Markets can expect the worst, hyperinflation may beckon, jobs will go and the precious euro will be compromised. The Australians have cut interest rates as a pre-emptive strike to minimize the potential impact, and the Asian Development Bank (ADB) has cut its growth forecast for the 10 member ASEAN bloc and the rest of East Asia, warning the economic crisis in Europe is threatening to punish global growth. Read more in The Diplomat. .