ASIANOMICS

🇻🇳🇺🇸 Vietnam says second round of trade talks started in Washington Vietnam and the United States have started a second round of trade negotiations in Washington, the Vietnamese government said as it seeks a deal to avoid a threatened 46% tariff rate that could weaken its export-driven growth model. The second round of formal talks for a bilateral trade deal began on Monday and will run until May 22, the trade ministry said in a statement. The first round of talks was held earlier this month. Trade Minister Nguyen Hong Dien is leading the delegation, which includes representatives from sectors such as construction, agriculture and technology, as well as officials from the central bank and finance ministry. #Vietnam#USA @asianomics

🇹🇼🇨🇳 Taiwan president offers peace with China but says island must strengthen defenses Taiwan wants peace and dialogue with China but the government must continue to strengthen the island's defenses, President Lai Ching-te said on Tuesday as he completed one year in office. "I also reiterate here - Taiwan is happy to have exchanges and cooperation with China as long as there is reciprocal dignity. Using exchanges to replace hemming in, dialogue to replace confrontation." Taiwan will continue to strengthen its defenses as preparing for war is the best way to avoid it, Lai added. #Taiwan#China @asianomics

🇹🇼🇺🇸Lai’s approval ratings dip ahead of 1st anniversary in office amid uncertain US ties Heightened uncertainty over Taiwan’s relations with the US has been a surprise challenge for Taiwan President Lai Ching-te, making his first year in office even harder than expected. Difficulties in navigating this challenge have contributed to his disapproval ratings rising. The latest survey results by leading pollster Formosa showed that Lai’s disapproval rating of 47.3% has overtaken his approval rating of 47.1%. Analysts say that while Lai has not lost his core supporters entirely, the numbers suggest he is facing high levels of dissatisfaction among more moderate Taiwanese not aligned with the DPP or the main opposition Kuomintang (KMT). While Lai, whom Beijing distrusts, was expected to face cross-strait tensions, as well as domestic turbulence in the opposition-dominated legislature, uncertainty over Taiwan’s relations with the US has emerged as a surprise challenge. #Taiwan#USA @asianomics

🇯🇵 Ishiba Cabinet support rate hits record low at 27.4%: poll The approval rating for Japanese Prime Minister Shigeru Ishiba's Cabinet hit a record low at 27.4%, down 5.2 percentage points from last month. The plunge in the support rate comes as dissatisfaction has grown ahead of this summer's House of Councillors election as Ishiba has continued to dismiss consumption tax cuts as a measure for tackling rising prices. Around 73.2% of the poll respondents said it is necessary to slash consumption taxes either "only for food items," "for all products," or be abolished altogether, amid the cost-of-living crisis. #Japan @asianomics

🇰🇷 South Korea's presidential candidates face off in fiery debate Democratic Party presidential candidate Lee Jae-myung and his People Power Party rival Kim Moon-soo sparred over strategies to revive South Korea's struggling economy and address trade challenges during their first televised debate ahead of the June 3 election. During a debate focused on revitalizing the economy and trade strategies, candidates expressed differing views on the role of government and how to approach trade negotiations with Trump. Lee of the DP said the government should take a more active role in stimulating domestic demand and nurturing new growth engines in key sectors, such as artificial intelligence, renewable energy and the culture industry. In contrast, Kim of the PPP pledged to ease business regulations and increase incentives for companies, while also promising financial support for small merchants most affected by the economic downturn. #SouthKorea @asianomics

🇹🇼🇨🇳 Taiwan is not ruling out 'political warfare' by China Taiwan's coast guard said China could try to disrupt public morale on the island ahead of President Lai Ching-te's one-year anniversary this week, after images surfaced on social media of a person planting a Chinese flag on a Taiwan beach. On Sunday, images posted on Chinese social media showed a man who claimed to have sailed across the Taiwan Strait on a small boat landing on a remote beach and planting a Chinese flag, before returning to China. "It cannot be ruled out that on the anniversary of President Lai's inauguration, the Chinese communists will again use similar tactics and videos to engage in political warfare to disrupt the morale of our people," Hsieh Ching-chin, deputy head of Taiwan's coast guard, told reporters. #Taiwan#China @asianomics

🇨🇳🌍China turns to PPPs to fund big projects in Africa China has turned to public-private partnerships (PPP) to finance big African infrastructure projects under a grand China investment initiative, a shift experts said could reduce Beijing’s financial risks while easing debt pressures on African countries. By granting Chinese companies long-term operating rights in exchange for construction financing, the model represents a pivot from direct government loans through China’s policy banks under its Belt and Road Initiative, Beijing’s plan to build global trade and infrastructure links. From Nairobi’s mega-highway and stalled railway to Zambia’s Lusaka-Ndola dual carriageway, Beijing is encouraging its companies and financiers to use PPP models for major projects that African governments previously avoided due to debt concerns – described by analysts as a “yellow brick road” for sustaining infrastructure development. #China#Africa @asianomics

🇺🇸🇨🇳Container ship owners swamped as US-China trade detente revives demand Container ship bookings for China-to-US cargo have surged since the countries declared a 90-day truce on punitive tit-for-tat tariffs last weekend, spawning traffic jams at Chinese ports and factories that could take weeks to clear. US importers of sneakers and sofas to construction supplies and auto parts are racing to get goods in before the deadline resets tariffs again. The cargo surge at major trade gateways like Shenzhen's Yantian Port, which handles more than a quarter of China's exports to the United States, has ship owners scrambling to coordinate berths and adjust vessel schedules. #USA#China @asianomics

🇰🇷South Korea ex-President Yoon leaves conservative party as candidate trails liberal frontrunner South Korea's ousted former President Yoon Suk-yeol said on Saturday that he is leaving the conservative People Power Party. The announcement comes as PPP's presidential candidate is badly trailing liberal Democratic Party candidate Lee Jae-myung in the polls before the June 3 snap election. Yoon, whose December surprise martial law and subsequent ouster by impeachment brought about the snap presidential election, had been called by party members to leave the party in an effort to muster more support from moderate voters who negatively view his actions. #SouthKorea @asianomics

🇰🇵 North Korea's Kim Jong Un oversees air drills North Korean leader Kim Jong Un supervised drills by the nation's air force and underscored the need for a step-up in war preparation, state media said. Footage of the drills on North Korean state TV showed a MiG-29 jet launching an air-to-air missile. The missile’s appearance has drawn comparisons to the China’s PL-12, which was developed with Russian technical assistance. Some believe that the North may have received similar support from Moscow. Kim called for "all units in the entire military" to bring about "a breakthrough in war preparation", KCNA reported. #NorthKorea @asianomics

🇨🇳🇺🇸China’s PLA warns US Space Force ‘orbital carrier’ risks escalating cosmic arms race China’s military has warned that a plan by the US Space Force to deploy “orbital carriers” will accelerate an arms race in space. In a commentary published by People’s Liberation Army Daily, an expert from the PLA Space Engineering University pointed to a recent US$60 million contract awarded by the US Space Force to develop an orbital transport craft. The PLA Daily commentary cited design specifications suggesting the craft included hard-points for weapons and could carry up to 10,000kg of payload. That capacity would allow for more than 150 kinetic kill vehicles to be deployed. Because of this dual-use potential, “such ambiguity has triggered warnings that demand heightened vigilance from all spacefaring nations”, the commentary said. #China#USA @asianomics

🇯🇵 Japan's Defense Ministry asked to launch office on UFOs, anomalies Japan's Defense Ministry was urged to set up an office tasked with tackling UFOs at a meeting with a cross-party group of lawmakers. The group, chaired by former Defense Minister Yasukazu Hamada of the ruling Liberal Democratic Party, handed a proposal to the current defense chief, describing such sightings, formally referred to as unidentified anomalous phenomena, or UAP, as realistic and serious national security concerns. The lawmakers also proposed that a new office regularly report the progress of UAP investigations to parliament and disclose information to the public, in addition to conducting scientific analysis of collected data and identifying potential threats. #Japan @asianomics