G’day Asia: KEVIN RUDD, Australia’s prime minister, wants to make Australia the “most Asia-literate country in the collective West”. But many countries in Asia think Asia-literacy incompatible with membership of “the West”. As hard as Australia tries to engage with the region next door, they still see it as an outsider preaching Western values to neighbours it does not fully understand. [Economist]
Power shifts from the west to the rest: The economic order was transformed not by any altruistic movement or political awakening, but by globalised capitalism. [New Statesman]
Capital inflows to China: Despite strict capital controls, China is being flooded by the biggest wave of speculative capital ever to hit an emerging economy. [Economist]
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