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	<title>Georgia Asian Times</title>
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	<link>http://gasiantimes.com</link>
	<description>Covering the multicultural Asian American community in metro Atlanta and Georgia.</description>
	<lastBuildDate>Thu, 17 May 2012 19:32:10 +0000</lastBuildDate>
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		<title>Obama eases investment curbs on Myanmar, names ambassador</title>
		<link>http://gasiantimes.com/business/obama-eases-investment-curbs-on-myanmar-names-ambassador/</link>
		<comments>http://gasiantimes.com/business/obama-eases-investment-curbs-on-myanmar-names-ambassador/#comments</comments>
		<pubDate>Thu, 17 May 2012 19:32:10 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Misc Asia]]></category>
		<category><![CDATA[Myanmar]]></category>
		<category><![CDATA[sanctions]]></category>
		<category><![CDATA[us]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5182</guid>
		<description><![CDATA[WASHINGTON, May 17, 2012 (AFP) &#8211; President Barack Obama Thursday eased investment curbs on Myanmar and named the first US ambassador to the country in more than 20 years, hoping to reward a &#8220;nascent&#8221; political reform drive. But Obama, seeking ...]]></description>
			<content:encoded><![CDATA[<p>WASHINGTON, May 17, 2012 (AFP) &#8211; President Barack Obama Thursday eased investment curbs on Myanmar and named the first US ambassador to the country in more than 20 years, hoping to reward a &#8220;nascent&#8221; political reform drive.</p>
<p>But Obama, seeking maximum leverage on Myanmar&#8217;s nominally civilian government and to preserve his options in case of &#8220;backsliding,&#8221; maintained wider US sanctions on Myanmar and figures linked to the former junta.</p>
<p>Obama&#8217;s move followed calls from business and political figures in the United States, Europe and Asia to lift sanctions, and warnings by democracy icon Aung San Suu Kyi against excessive optimism over a political opening.</p>
<p>&#8220;We will license certain types of investment in financial services and for businesses to do business in Burma,&#8221; a US official said. &#8220;We will continue to sanction individuals associated with the former regime.&#8221;</p>
<p>&#8220;It is a recognition of progress, it is a recognition that opening up greater economic engagement between our two countries is important to support reformers,&#8221; the official said, speaking on condition of anonymity.</p>
<p>The decision could usher in the first major trade and investment between the United States and Myanmar for years, and help pry open the country&#8217;s backward economy, that has been left behind by speeding Southeast Asian development.</p>
<p>The US government will advise companies on where and whether to invest in Myanmar and would maintain restrictions on investment with the military, which has deep commercial interests in the country&#8217;s economy.</p>
<p>Obama also nominated Derek Mitchell, who has been serving as the State Department&#8217;s special representative to Myanmar, as US ambassador, pending confirmation by the US Senate.</p>
<p>Washington withdrew its ambassador to Myanmar, also known as Burma, after a crackdown on a democracy uprising in 1988. Then Suu Kyi&#8217;s democracy movement won elections in 1990, but was barred from power.</p>
<p>Earlier, Obama said Myanmar had made progress in a number of areas including by releasing political prisoners, pursuing ceasefire talks with ethnic groups and by opening dialogue with Suu Kyi&#8217;s National League for Democracy.</p>
<p>&#8220;Burma has made important strides, but the political opening is nascent, and we continue to have concerns, including remaining political prisoners, ongoing conflict, and serious human rights abuses in ethnic areas,&#8221; he said.</p>
<p>&#8220;I have determined that it is necessary to continue the national emergency with respect to Burma and to maintain in force the sanctions that respond to this threat,&#8221; Obama said in a message to Congress using Myanmar&#8217;s former name.</p>
<p>US law currently requires the president to restrict imports from Myanmar, which for decades was ruled by a military junta, and bans US investment and export of financial services to the country.</p>
<p>It also blocks property and assets of certain members of the Myanmar ruling class and senior officials linked to the former junta.</p>
<p>President Thein Sein surprised many US observers by initiating political reforms designed to break Myanmar&#8217;s isolation, and elections this year led to the NLD securing 43 of the 44 seats it contested in parliamentary by-elections.</p>
<p>But it is still a minority influence in parliament with one quarter of the seats in both chambers reserved for unelected military officials.</p>
<p>Myanmar says it has now released more than 500 political prisoners but the US and human rights groups say more needs to be done.</p>
<p>Hillary Clinton made the first visit to Myanmar in 50 years by a US secretary of state in December, and the two countries are moving towards exchanging ambassadors.</p>
<p>Obama&#8217;s announcement was published hours before talks at the State Department between Clinton and Myanmar Foreign Minister Wunna Maung Lwin.</p>
<p>It also took place on the eve of the G8 summit at Camp David, Maryland, which Obama will host and which is likely to include discussion about how to promote reform in Myanmar.</p>
<p>Suu Kyi, sworn in May 2 as a member of parliament after spending most of the past two decades under house arrest, spoke to a gathering of US politicians and rights advocates including ex-president George W. Bush, via Skype this week.</p>
<p>&#8220;I am not against the suspension of sanctions as long as the people of the United States feel that this is the right thing to do at the moment. I do advocate caution, though,&#8221; she said.</p>
<p>She warned that she felt sometimes that &#8220;people are too optimistic about the scene in Burma. You have to remember that the democratization process is not irreversible.&#8221;</p>
<p>The views of Suu Kyi, the 1991 Nobel Peace Prize winner, are considered critical to any US decision to lift decades worth of sanctions on Myanmar.</p>
<p>US companies have been eager to enter Myanmar, fearing Asian and European competitors will seize the growing market.</p>
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		<title>&#8216;World&#8217;s oldest junk&#8217; returns to Taiwan</title>
		<link>http://gasiantimes.com/misc-asia/worlds-oldest-junk-returns-to-taiwan/</link>
		<comments>http://gasiantimes.com/misc-asia/worlds-oldest-junk-returns-to-taiwan/#comments</comments>
		<pubDate>Thu, 17 May 2012 19:28:21 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Feature]]></category>
		<category><![CDATA[Misc Asia]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5179</guid>
		<description><![CDATA[Taipei, May 17, 2012 (AFP) &#8211; The world&#8217;s oldest surviving Chinese junk returned home to Taiwan on Thursday, nearly 60 years after it set sail on a historic voyage to the United States, organisers said. The Free China arrived in ...]]></description>
			<content:encoded><![CDATA[<p>Taipei, May 17, 2012 (AFP) &#8211; The world&#8217;s oldest surviving Chinese junk returned home to Taiwan on Thursday, nearly 60 years after it set sail on a historic voyage to the United States, organisers said.</p>
<p>The Free China arrived in the northern port of Keelung aboard a cargo ship from San Francisco. It will be restored and displayed in a maritime museum in the city, said L.S. Lwo, head of the boat restoration project.</p>
<p>The 100-year-old boat is believed to be the oldest surviving wooden Chinese sailing ship, or junk, in existence and the last of its kind, according to the Chinese Junk Preservation that has been trying to save it.</p>
<p>The boat and its six crew left Keelung in 1955 to cross the Pacific during a yacht race and arrived in San Francisco after a 112-day voyage, the organisation said.</p>
<p>The vessel, which was in need of an overhaul upon arrival in San Francisco, went through several owners and was left in a shipyard while it continued to deteriorate until Taiwan&#8217;s government stepped in to save it, it said.</p>
<p>&#8220;We are happy that she has arrived safely,&#8221; said Calvin Mehlert, an original crew member of Free China who has assisted in the junk&#8217;s return to Taiwan.</p>
<p>&#8220;We are pleased that the people of Taiwan are now going to devote the resources that will be required to properly restore this treasure,&#8221; he said.</p>
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		<title>High blood pressure affects 1 in 3: World Health Organization</title>
		<link>http://gasiantimes.com/health/high-blood-pressure-affects-1-in-3-world-health-organization/</link>
		<comments>http://gasiantimes.com/health/high-blood-pressure-affects-1-in-3-world-health-organization/#comments</comments>
		<pubDate>Wed, 16 May 2012 21:25:15 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Health]]></category>
		<category><![CDATA[blood]]></category>
		<category><![CDATA[diabetes]]></category>
		<category><![CDATA[High]]></category>
		<category><![CDATA[pressure]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5177</guid>
		<description><![CDATA[GENEVA, May 16, 2012 (AFP) &#8211; One in three adults suffers from high blood pressure, a key trigger of heart disease, health experts said on Wednesday while underlining the growing number of cases in developing countries. Canada and the United ...]]></description>
			<content:encoded><![CDATA[<p>GENEVA, May 16, 2012 (AFP) &#8211; One in three adults suffers from high blood pressure, a key trigger of heart disease, health experts said on Wednesday while underlining the growing number of cases in developing countries.</p>
<p>Canada and the United States have the fewest patients, at less than 20 percent of adults, but in some African countries the estimated figure is closer to 50 percent, the World Health Organization said.</p>
<p>Increased life expectancy and changes in lifestyle mean that chronic conditions once associated with wealthier nations are now affecting lower income countries.</p>
<p>&#8220;We are being successful in reducing the impact of infectious diseases and child mortality is coming down &#8212; that means more people are surviving to advanced ages when non-communicable diseases develop,&#8221; said Colin Mathers, coordinator of the WHO&#8217;s mortality and burden of disease unit</p>
<p>&#8220;As people live longer, they are more prone to chronic diseases.&#8221;</p>
<p>Mathers also pointed to increasing risk factors in lower-income countries such as obesity and smoking.</p>
<p>&#8220;As populations become better off, incomes are rising, and the calories available are increasing.&#8221; he said.</p>
<p>&#8220;The spread of fast food, processed food, salt added in manufacturing, is all contributing to cardiovascular and cancer risks.&#8221;</p>
<p>In many developed countries like Australia, where the incidence of heart problems peaked in the 1960s and 70s, people are diagnosed and given treatment.</p>
<p>But those treatments are not generally available in African countries, said Mathers.</p>
<p>In Niger 50.3 percent of men suffer from high blood pressure, with Malawi and Mozambique not far behind at 44.5 and 46.3 percent respectively.</p>
<p>The WHO World Health Statistics report published on Tuesday includes for the first time figures on raised blood pressure and raised blood glucose levels, associated with diabetes, for the first time.</p>
<p>One in 10 people are estimated to have diabetes, rising to up to one third in Pacific Island countries.</p>
<p>&#8220;This report is further evidence of the dramatic increase in the conditions that trigger heart disease and other chronic illnesses, particularly in low and middle-income countries,&#8221; said WHO director general Margaret Chan.</p>
<p>The report also said obesity levels doubled across the world between 1980 and 2008 and half a billion people or 12 percent of the world&#8217;s populations are now considered obese.</p>
<p>The Americas have the highest instance, at 26 percent of adults, and south-east Asia the lowest obesity levels at three percent.</p>
<p>The WHO said deaths in children aged under five years dropped from almost 10 million in 2000 to 7.6 million a decade later, with the decline in deaths from measles and diarrhoea-related disease &#8220;particularly striking.&#8221;</p>
<p>The World Health Assembly, the decision-making body of the WHO, will meet in Geneva from May 21-26 where members will discuss new targets on cutting the cases of heart and lung disease, diabetes and cancer.</p>
]]></content:encoded>
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		<title>Atlanta&#8217;s New International Terminal Opens Today</title>
		<link>http://gasiantimes.com/metro-asian-news/atlantas-new-international-terminal-opens-today/</link>
		<comments>http://gasiantimes.com/metro-asian-news/atlantas-new-international-terminal-opens-today/#comments</comments>
		<pubDate>Wed, 16 May 2012 14:46:00 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Metro Asian News]]></category>
		<category><![CDATA[airport]]></category>
		<category><![CDATA[international]]></category>
		<category><![CDATA[Maynard H. Jackson Jr]]></category>
		<category><![CDATA[Terminal]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5172</guid>
		<description><![CDATA[Atlanta, May 16, 2012 &#8211; Delta Air Lines flight 295 to Tokyo-Narita will become the first flight to depart Concourse F at the new Maynard H. Jackson Jr. International Terminal when it opens today at Atlanta&#8217;s Hartsfield-Jackson International Airport. Shortly ...]]></description>
			<content:encoded><![CDATA[<p>Atlanta, May 16, 2012 &#8211; Delta Air Lines flight 295 to Tokyo-Narita will become the first flight to depart Concourse F at the new Maynard H. Jackson Jr. International Terminal when it opens today at Atlanta&#8217;s Hartsfield-Jackson International Airport. Shortly after flight 295&#8242;s departure, Delta flight 177 from Dublin, Ireland will be the first arrival on the new concourse.</p>
<p>The $1.4 billion project includes 12 new gates and eight security checkpoints. It&#8217;s designed to allow international travelers to bypass Atlanta&#8217;s main terminal. </p>
<p>The new Concourse F, which connects to Concourse E, includes 12 gates. The terminal eliminates the need for Atlanta-destined passengers to recheck their baggage. </p>
<p>Departing customers will access the international terminal via I-75 at Exit 239. Shuttle service connects to the domestic terminal, domestic parking facilities and MARTA train service to downtown Atlanta. </p>
<p>For more information, visit <a href="http://atlanta-airport.com/internationalterminal">http://atlanta-airport.com/internationalterminal</a>.</p>
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		<title>Facebook boosts number of IPO shares by 25%</title>
		<link>http://gasiantimes.com/business/facebook-boosts-number-of-ipo-shares-by-25/</link>
		<comments>http://gasiantimes.com/business/facebook-boosts-number-of-ipo-shares-by-25/#comments</comments>
		<pubDate>Wed, 16 May 2012 13:31:19 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[FaceBook]]></category>
		<category><![CDATA[IPO]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5161</guid>
		<description><![CDATA[NEW YORK, May 16, 2012 (AFP) &#8211; Facebook on Wednesday boosted by 25 percent the number of shares for sale at its stock market debut, amid signs of strong investor demand for its initial public offering this week. The move ...]]></description>
			<content:encoded><![CDATA[<p>NEW YORK, May 16, 2012 (AFP) &#8211; Facebook on Wednesday boosted by 25 percent the number of shares for sale at its stock market debut, amid signs of strong investor demand for its initial public offering this week.</p>
<p>The move by the Internet giant comes one day after it filed paperwork with the US Securities and Exchange Commission raising its IPO share price from a range of $28 to $35, to between $34 to $38 per share.</p>
<p>The raised IPO share price, as well as the increase in the number of shares available, reflects confidence in stock for the the Menlo Park, California-based company.</p>
<p>Facebook is already assured of becoming the most valuable US Web company at the time of an IPO, topping Google&#8217;s $23 billion valuation in 2004.</p>
<p>Trading is expected to begin on Friday under the symbol &#8220;FB&#8221; on the technology-heavy Nasdaq.</p>
<p>There was no immediate explanation for the increase in shares, which will come from the current holders of shares in prior private offerings. The net proceeds to the company will remain unchanged at $6.4 billion, the filing with regulators said.</p>
<p>The IPO share price gives Facebook a value of $93-104 billion.</p>
<p>Depending on the final value, the IPO would be one of the largest of a US firm on Wall Street, behind the 2008 offering of Visa ($17.8 billion) and General Motors in 2010 ($15.7 billion).</p>
<p>The offering is underwritten by several banks led by Morgan Stanley, JPMorgan Chase and Goldman Sachs.</p>
<p>Based on the estimated market value, Facebook would be in the neighborhood of Amazon ($100 billion) and Cisco ($90 billion) and ahead of Hewlett-Packard ($45 billion) and struggling Yahoo! ($19 billion).</p>
<p>Some analysts predicted Facebook&#8217;s stock price will jump quickly to $44 a share and climb much higher in the long term as Facebook finds ways to leverage its membership of 900 million.</p>
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		<title>Pardon World Bank economist, says Buddhist leader</title>
		<link>http://gasiantimes.com/misc-asia/pardon-world-bank-economist-says-buddhist-leader/</link>
		<comments>http://gasiantimes.com/misc-asia/pardon-world-bank-economist-says-buddhist-leader/#comments</comments>
		<pubDate>Tue, 15 May 2012 13:38:10 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Feature]]></category>
		<category><![CDATA[Misc Asia]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5158</guid>
		<description><![CDATA[Taipei, May 15, 2012 (AFP) &#8211; A Taiwanese Buddhist leader on Tuesday urged Taipei to pardon World Bank chief economist Justin Lin, who as a young military officer in the late 1970s defected to China by swimming to the mainland. ...]]></description>
			<content:encoded><![CDATA[<p>Taipei, May 15, 2012 (AFP) &#8211; A Taiwanese Buddhist leader on Tuesday urged Taipei to pardon World Bank chief economist Justin Lin, who as a young military officer in the late 1970s defected to China by swimming to the mainland.</p>
<p>Lin, who also serves as senior vice president at the lender, last month reiterated his hopes of returning to Taiwan, where he was born, despite still being wanted over the escape.</p>
<p>Taiwan&#8217;s defense ministry has repeatedly said that Lin remains a &#8220;lawbreaker&#8221; and would be arrested and tried should he ever return. In theory, he could face the death penalty if tried and convicted.</p>
<p>However, master Hsing Yun, head of the influential Buddhist organization Fo Guang Shan, called on the government to pardon Lin on the grounds of &#8220;humanitarianism, mercy and forgiveness&#8221;.</p>
<p>&#8220;I hope he can be forgiven by (Taiwanese) society so he can return to his family. After all Taiwan is a progressing democratic society and we should treat the matter with a broader mind,&#8221; Hsing Yun said.</p>
<p>Lin was a 26-year-old company commander in the Taiwan military stationed on Kinmen island near the Chinese mainland when in 1979 he swam the 2,000 meters (yards) to the communist side.</p>
<p>He arrived in China at the dawn of its opening up under Deng Xiaoping and played a key role in the country&#8217;s economic modernization before taking up his international career.</p>
<p>For many years Lin was not officially listed as a defector but as &#8220;missing&#8221;, as his flight was considered an embarrassment.</p>
<p>However in 2002 he was put on a wanted list after he applied to return to Taiwan for his father&#8217;s funeral.</p>
<p>Taiwan and China split in 1949 after a civil war but Beijing still claims the island as part of its territory awaiting unification, by force if necessary.</p>
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		<title>Liu Fu, a reincarnation of China Inn, is back at Johns Creek</title>
		<link>http://gasiantimes.com/misc-asia/liu-fu-a-reincarnation-of-china-inn-is-back-at-johns-creek/</link>
		<comments>http://gasiantimes.com/misc-asia/liu-fu-a-reincarnation-of-china-inn-is-back-at-johns-creek/#comments</comments>
		<pubDate>Tue, 15 May 2012 13:34:26 +0000</pubDate>
		<dc:creator>Mark Ho</dc:creator>
				<category><![CDATA[Misc Asia]]></category>
		<category><![CDATA[Fu]]></category>
		<category><![CDATA[Johns Creek]]></category>
		<category><![CDATA[Liu]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5163</guid>
		<description><![CDATA[We were a bit saddened when China Inn closes its door last year. The owner reopens its business under a new name “Liu Fu” in February at Johns Creek. It caters to the largest concentration of Asian families in Georgia, ...]]></description>
			<content:encoded><![CDATA[<p>We were a bit saddened when China Inn closes its door last year. The owner reopens its business under a new name “Liu Fu” in February at Johns Creek. It caters to the largest concentration of Asian families in Georgia, according to 2010 Census Bureau statistics.</p>
<p>The restaurant has a cozy and beautiful decor of dark woods leftover by previous restaurant operator.  Liu Fu owners basically move in with their Chinese decorative items. Strange enough, the combination of East and West decors make the space looks quite stunning.</p>
<p>The menu is basically the same as the former China Inn at Peachtree Industrial Boulevard.</p>
<p>Pocket Tofu ($12) which is smashed tofu with chicken steamed and sauteed with white sauce. This is a highly recommended dish to order.</p>
<p>Another dish not to be missed is the Sichuan Spicy Boiled Beef ($16). It is the signature dish of the restaurant. Comes with cabbage and spicy sichuan sauces. It goes well with steam white rice.</p>
<p>Honey Glazed Walnut Shrimp ($14) is another recommended dish for family with kids. The sweetness of the honey combines well with the crunch of walnut and shrimp.</p>
<p><a href="http://gasiantimes.com/wp-content/uploads/2012/05/lf5.jpg"><img src="http://gasiantimes.com/wp-content/uploads/2012/05/lf5-300x200.jpg" alt="" title="lf5" width="300" height="200" class="alignleft size-medium wp-image-5165" /></a>Another favorite dish to order is the sauteed string beans with pork ($11).  Sweet and salty taste makes the dish savory with steamed white rice.</p>
<p>Service is friendly and attentive. Prices are reasonable given it is located in northern Gwinnett.</p>
<p>A great destination for business lunch and family dinner on the weekends. </p>
<p><strong>Liu Fu<br />
11625 Medlock Bridge Rd,<br />
Duluth, GA 30097<br />
(678) 957-8889</strong></p>
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		<title>We invest in youth, City pay silly money: Ferguson</title>
		<link>http://gasiantimes.com/sports/we-invest-in-youth-city-pay-silly-money-ferguson/</link>
		<comments>http://gasiantimes.com/sports/we-invest-in-youth-city-pay-silly-money-ferguson/#comments</comments>
		<pubDate>Tue, 15 May 2012 00:16:02 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Sports]]></category>
		<category><![CDATA[Alex]]></category>
		<category><![CDATA[Ferguson]]></category>
		<category><![CDATA[Manchester]]></category>
		<category><![CDATA[Sir]]></category>
		<category><![CDATA[United]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5156</guid>
		<description><![CDATA[MANCHESTER, England, May 14, 2012 (AFP) &#8211; Manchester United manager Sir Alex Ferguson said on Monday he wasn&#8217;t concerned by rivals and newly-crowned Premier League champions Manchester City&#8217;s ability to out bid them in the transfer market. United lost out ...]]></description>
			<content:encoded><![CDATA[<p>MANCHESTER, England, May 14, 2012 (AFP) &#8211; Manchester United manager Sir Alex Ferguson said on Monday he wasn&#8217;t concerned by rivals and newly-crowned Premier League champions Manchester City&#8217;s ability to out bid them in the transfer market.</p>
<p>United lost out on successfully defending their title solely on goal difference to City on Sunday when two injury-time goals saw City to a 3-2 win over QPR and their first league crown in 44 years.</p>
<p>However, Ferguson said that he was not going to be forced into a change of transfer policy because of losing out to their city rivals and would stick to investing in young talent while Abu Dhabi-owned City spent huge amounts on established players.</p>
<p>&#8220;We know City are going to spend fortunes, pay stupid money and silly salaries. We know that happens. We can&#8217;t do anything about that,&#8221; the 70-year-old told MUTV at the United player of the year dinner.</p>
<p>&#8220;We are not like other clubs who can spend fortunes on proven goods. We invest in players who will be with the club for a long time, who will create the character of the club and the excitement for our fans.</p>
<p>&#8220;We are good at that and we are going to continue that way.&#8221;</p>
<p>Ferguson, who is believed to be targeting two stars from Borussia Dortmund&#8217;s successful Bundesliga title defense Japanese international Shinji Kagawa and Polish star Robert Lewandowski, said there was no need for a large scale overhaul of his squad.</p>
<p>This despite finishing without a trophy, being knocked out of the Champions League at the group stage and letting an eight point lead over City in early April slip.</p>
<p>&#8220;We have set out our stall for certain players and we want to make sure the evolution continues at United,&#8221; said Ferguson.</p>
<p>&#8220;I have been at the club for 25 years and I have to maintain a certain standard that keeps us there all the time.</p>
<p>&#8220;We don&#8217;t always win it because we are always there, which is great credit to how we view things.</p>
<p>&#8220;But there is nothing materially wrong with us. I know there are some critics but we got 89 points.&#8221;</p>
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		<title>Economic growth sows unhappiness in China: study</title>
		<link>http://gasiantimes.com/business/economic-growth-sows-unhappiness-in-china-study/</link>
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		<pubDate>Tue, 15 May 2012 00:14:41 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Misc Asia]]></category>
		<category><![CDATA[china]]></category>
		<category><![CDATA[economy]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5153</guid>
		<description><![CDATA[WASHINGTON, May 14, 2012 (AFP) &#8211; China&#8217;s economic growth of the last 20 years has generally been met with declining happiness, especially among the poorest members of society, according to a US analysis published on Monday. The study in the ...]]></description>
			<content:encoded><![CDATA[<p>WASHINGTON, May 14, 2012 (AFP) &#8211; China&#8217;s economic growth of the last 20 years has generally been met with declining happiness, especially among the poorest members of society, according to a US analysis published on Monday.</p>
<p>The study in the journal Proceedings of the National Academy of Sciences (PNAS) is based on six different surveys on self-reported satisfaction with life since 1990, a period when China&#8217;s gross domestic product per capita increased fourfold.</p>
<p>&#8220;There are many who believe that well-being is increased by economic growth, and that the faster the growth, the happier people are. There could hardly be a better country than China to test these expectations,&#8221; said lead author Richard Easterlin, professor of economics at the University of Southern California.</p>
<p>&#8220;But there is no evidence of a marked increase in life satisfaction in China of the magnitude that might have been expected due to the enormous multiplication in per capita consumption,&#8221; said Easterlin, who is known for his work in the 1970s on how happiness is often not linked to wealth, coined the Easterlin Paradox.</p>
<p>&#8220;Indeed people are slightly less happy overall, and China has gone from being one of the most egalitarian countries in the world in terms of life satisfaction to one of the least.&#8221;</p>
<p>In 1990, 68 percent of those in the wealthiest income bracket and 65 percent of those in the poorest reported high levels of satisfaction.</p>
<p>But the latter figure has fallen more than 23 percentage points in the past two decades, according to the USC analysis of surveys carried out by the Pew Research Center, Gallup, and Horizon Research Consultancy Group, among others.</p>
<p>Only 42 percent of Chinese people in the lowest income bracket reported high levels of life satisfaction in 2010, said the PNAS report.</p>
<p>Meanwhile, the wealthiest Chinese who said they were satisfied with their lives grew about three percentage points, to 71 percent.</p>
<p>&#8220;There is no evidence of a substantial uptrend in life satisfaction of the magnitude that might have been expected given the fourfold increase in GDP per capita over the study period,&#8221; said the study.</p>
<p>While the surveys did not document the reasons for the decline, it is a well-known phenomenon that &#8220;growth in aspirations induced by rising income undercuts the increase in life satisfaction related to rising income itself,&#8221; said the study.</p>
<p>Other reasons may include &#8220;home life and the need for a secure job to support it, health, friends and relatives,&#8221; it added.</p>
<p>Similar trends have been observed in the former Soviet Union and East Germany during their transition periods.</p>
<p>But the study cautioned that it would be &#8220;a mistake to conclude from the life satisfaction experience of China, and the transition countries more generally, that a return to socialism and the gross inefficiencies of central planning would be beneficial.&#8221;</p>
<p>Instead, leaders should take note that &#8220;jobs and job and income security, together with a social safety net, are of critical importance to life satisfaction.&#8221;</p>
<p>The study also applauded the Chinese government for taking steps in the last few years to &#8220;repair the social safety net,&#8221; which it described as &#8220;encouraging&#8221; for the country&#8217;s least advantaged citizens.</p>
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		<title>China, Japan, South Korea agree to start free-trade talks</title>
		<link>http://gasiantimes.com/business/china-japan-south-korea-agree-to-start-free-trade-talks/</link>
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		<pubDate>Sun, 13 May 2012 14:41:00 +0000</pubDate>
		<dc:creator>gasiantimes</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Free Trade Agreements]]></category>

		<guid isPermaLink="false">http://gasiantimes.com/?p=5150</guid>
		<description><![CDATA[Beijing, May 13, 2012 (AFP) &#8211; The leaders of China, Japan and South Korea agreed Sunday to start negotiations towards creating a free-trade area this year, saying it would boost the economies of the region in a time of crisis. ...]]></description>
			<content:encoded><![CDATA[<p>Beijing, May 13, 2012 (AFP) &#8211; The leaders of China, Japan and South Korea agreed Sunday to start negotiations towards creating a free-trade area this year, saying it would boost the economies of the region in a time of crisis.</p>
<p>A free-trade area among Northeast Asia&#8217;s three major economies has been on the trilateral agenda for the past decade, beginning with an agreement among the three in late 2002 to launch a feasibility study on the issue.</p>
<p>&#8220;The three countries agreed to launch negotiations on a China-South Korea-Japan free-trade area within the year,&#8221; said Chinese Premier Wen Jiabao after meeting South Korean President Lee Myung-Bak and Japanese Prime Minister Yoshihiko Noda.</p>
<p>Wen told reporters in Beijing that closer regional economic integration in response to a slow global recovery and an overall rise in trade protectionism would help unlock new growth potential.</p>
<p>&#8220;Northeast Asia is the most economically vibrant region in the world. So there is huge potential for our three countries to have closer trade and investment cooperation,&#8221; he said.</p>
<p>&#8220;The establishment of a free-trade area will unleash the economic vitality of our region and give a strong boost to economic integration in East Asia.&#8221;</p>
<p>China, Japan and South Korea combined have the world&#8217;s largest economy &#8212; ahead of the European Union &#8212; when measured by purchasing power parity, which takes into account differences in the costs of living across nations.</p>
<p>Progress on a free-trade pact had widely expected to be on the agenda of the China-South Korea-Japan leaders&#8217; meeting on Sunday &#8212; the fifth such summit to take place.</p>
<p>For Japan, free-trade talks with China and South Korea will come on top of efforts to join the Trans-Pacific Partnership (TPP), a trade agreement being negotiated by a group of countries led by the US, but excluding China.</p>
<p>&#8220;We will promote the TPP and the trilateral free-trade area in parallel. These efforts can be mutually reinforcing to each other,&#8221; Noda told reporters.</p>
<p>China, Japan and South Korea are pushing the trade liberalization agenda at a time when their export-dependent economies are under pressure from slowdowns in the key European and North American markets.</p>
<p>&#8220;When the economy is in crisis, it&#8217;s more pressing to set up a free-trade zone. This is my personal proposition,&#8221; South Korea&#8217;s Lee said.</p>
<p>&#8220;In times of crisis, if countries, for their own survival, carry out protectionist ideas, then the recovery of the economy will take a long time,&#8221; he said.</p>
<p>In Sunday&#8217;s meeting, the three nations also signed an investment agreement concluded earlier this year after 13 rounds of negotiations stretching over five years.</p>
<p>&#8220;To further facilitate mutual investment, it is important to have a legal framework. It will help our businesses and mutual investment,&#8221; Lee said.</p>
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