Does Toyota dream of robotic housekeepers?

Abstract: Toyota Motor Corp. has sold enough cars to put one outside every Japanese home. Now it wants to put robots inside those homes. Well-known for its automated assembly lines, Toyota envisions a not-so-far-off future in which robots transcend the factory and become commonplace in homes — helping with chores and even offering companionship, in an aging society where a quarter of the population is over 65 and millions of seniors live alone. Machines have become much smarter in the past decade or so. Yet, every attempt to build one that can do simple things like load a washing machine or carry groceries encounters the same basic, physical problem: The stronger a robot gets, the heavier and more dangerous it becomes. What Toyota has going for it are $29 billion in cash reserves, a new artificial intelligence research center and a well-respected inventor, Gill Pratt, heading its efforts. “This is a company with so many resources that you can never ignore them,” said Morten Paulsen, a Tokyo-based analyst at CLSA Japan Securities Co. who has covered the robotics industry for decades. Toyota has been experimenting with robots since at least 2004, when it unveiled a trumpet-playing humanoid with artificial lips, lungs and movable fingers that could accompany a human orchestra. Since then, research has become more practical. Toyota’s latest android, the T-HR3, is a kind of avatar that can be manipulated remotely, via wearable controls, with vision goggles that allow users to see through the machine’s cameras. The device could one day serve as arms and legs for the bedridden, or as a surrogate for relief workers in disaster zones. In 2015, the automaker spent a billion dollars to open its AI-focused Toyota Research Institute in Silicon Valley. Last year it set up a $100 million fund to invest in startups and new robotics technology, and this year the company restructured its Partner Robot division to speed decision-making and shorten development time. “There’s internal pressure all of a sudden to move faster,” senior manager Keisuke Suga said at a recent industry forum near the automaker’s Toyota City headquarters in Aichi Prefecture. The road to robots has had its setbacks. In 2011, Toyota demonstrated a machine for lifting patients in and out of bed, but engineers had only tested it on healthy volunteers. Once they discovered that the frail and elderly required a more delicate touch, the product was shelved. Another device, a personal scooter that resembled a Segway, looked promising in trials but was kept off the streets by regulatory holdups. Outside of factories and warehouses, in fact, unfulfilled promise has been the main story for robots. For example, Boston Dynamics, a ballyhooed firm started by engineers from the Massachusetts Institute of Technology, has spent more than 12 years developing four-legged automatons but still hasn’t proved they can be commercialized. Most of the $2.1 billion spent by consumers last year on household robots was for automated vacuum cleaners and lawn mowers — not exactly the stuff of science fiction. Toyota says the need for elderly care will change that. The automaker illustrates the point with a chart showing Japan’s inverted age pyramid in the year 2050, when a third fewer workers will have to support twice as many old people as today. (Some 22 percent of the world’s population will be over 60 by then, according to the World Health Organization.) Toyota’s Human Support Robot is the machine the automaker sees as closest to making the leap from lab to living room. The robotic equivalent of a Corolla — all function and no frills — the HSR is basically a retractable arm on wheels with a video screen on top and two large camera eyes that give it the rudiments of a face. While the hefty high-tech contraption weighs as much as half a dozen bowling balls, it can only lift a 1.2-kilogram payload. Still, with the right software the machine can do some interesting things. In a demo this fall by an AI startup called Preferred Networks Inc., one of Toyota’s partners, the robot was able to learn where books, pens and other items belonged on a shelf, and clean a room that looked like it had been turned upside-down by a 3-year-old. Using its sensor eyes and its pincer, the machine arranged a pair of slippers neatly on the floor next to each other, with both feet pointing in the same direction. Asked when its home helpers will be available to consumers, Toyota wouldn’t say. But adviser Masanori Sugiyama, a former top manager in the robot program, says the HSR could be ready to perform simple tasks, like tidying up or delivering meals, for hospitals and rest homes in two or three years. For machines with more profound skills, the wait will be longer. “They need to be able to understand what people are thinking, and have empathy,” said Sugiyama. “The idea is for the robot to be a friend.”


Nikkei average finishes above 20,000

Abstract: The benchmark Nikkei average powered higher to close above 20,000 on the Tokyo Stock Exchange on Thursday, thanks to a strong overnight rally in U.S. equities. The 225-issue Nikkei average jumped 750.56 points, or 3.88 percent, to end at 20,077.62 — its first finish above 20,000 since Friday. It had gained 171.32 points Wednesday. The Topix index of all first-section issues closed up 70.16 points, or 4.90 percent, at 1,501.63, after climbing 15.92 points the previous day. The Tokyo market attracted hefty purchases across the board after the Dow Jones industrial average closed 1,086.25 points, or 4.98 percent, higher in New York on Wednesday, posting its largest single-day point gain ever. The yen’s weakening against the dollar also served as a tailwind to Japanese shares, market sources said. “Investor sentiment improved to some extent” on the back of the strong U.S. market, traced partly to the announcements of brisk U.S. retail sales data for the holiday season, an official at a bank-linked securities firm said. The official also said Wall Street’s rally came after Kevin Hassett, chairman of the White House Council of Economic Advisers, denied the possibility that Federal Reserve Chairman Jerome Powell would be fired by President Donald Trump. Tomoaki Fujii, head of the investment research division at Akatsuki Securities Inc., expressed his view that Japanese stocks advanced Thursday after they had been oversold. Ryuta Otsuka, strategist at the investment information department of Toyo Securities Co., said the Tokyo market attracted “mainly buybacks.” Rising issues overwhelmed falling ones 2,112 to 11 in the TSE’s first section, while six issues were unchanged. Trading volume increased to 1.576 billion shares from Wednesday’s 1.388 billion shares. Cosmetics maker Shiseido Co., daily goods manufacturer Kao Corp., convenience store operator FamilyMart Uny Holdings Co. and other issues related to personal consumption attracted heavy purchases after U.S. retail stocks fared well in New York on Wednesday. Higher crude oil prices lifted oil companies JXTG Holdings Inc., Idemitsu Kosan Co., Showa Shell Sekiyu KK and Inpex Corp. Other major winners included mobile phone carrier SoftBank Corp. and air conditioner producer Daikin Industries. Meanwhile, clothing retailer Taka-Q Co. was among a handful of losers. In index futures trading on the Osaka Exchange, the key March 2019 contract on the Nikkei average shot up 630 points to end at 20,020.


Dollar firmer above ¥110.90 in late Tokyo trading

Abstract: The dollar was stronger above ¥110.90 in late Tokyo trading Thursday, supported by an overnight sharp rebound in U.S. equities. At 5 p.m., the dollar stood at ¥110.92, up from ¥110.42 at the same time Wednesday. The euro was at $1.1380, down from $1.1401, and at ¥126.31, up from ¥125.89. The U.S. stock rally eased risk aversion among financial market participants, boosting the dollar to around ¥111.40 in early trading, traders said. The dollar spent the rest of the day in Tokyo mainly around ¥111. The greenback gave in to fresh sales in late trading to fall below ¥111 again, according to the traders. The late bout of sales reflected a risk-averse mood rekindled by news reports that U.S. President Donald Trump is considering an executive order to bar U.S. firms from using telecommunications equipment made by Chinese companies, including Huawei Technologies Co., a currency broker said. Market activity was generally muted amid a strong wait-and-see mood to check the movements of U.S. stocks later on Thursday, said an official at a foreign exchange margin trading service provider.

exchange rates
foreign exchange
forex
currencies
fx


Sharp to spin off semiconductor business

Abstract: OSAKA - Electronics maker Sharp Corp. has said it will spin off its semiconductor business, possibly in April 2019. The move is aimed at establishing a structure that enables prompt management decisions and the active introduction of outside resources through tie-ups with other firms. Sharp will set up two wholly owned subsidiaries that will absorb the semiconductor-related operations to be spun off, the company said Wednesday. One of the two units will focus on semiconductors and sensors and the other on semiconductor lasers. Sharp Chairman and President Tai Jeng-wu told reporters that the company’s management resources are limited in the field of semiconductors so he wants to tap overseas and domestic resources, showing eagerness to forge alliances with other firms including Sharp’s parent, Hon Hai Precision Industry Co. of Taiwan. Currently, Sharp manufactures semiconductor-related products at its plants in the prefectures of Hiroshima and Nara. As the company has been concentrating its resources on liquid crystal-related businesses since the 1990s, however, it has not made any large-scale investment in its semiconductor business in close to 20 years.


Argentine woman rescued in Bolivia 32 years after kidnapping at age 13 by human traffickers

Abstract: BUENOS AIRES - An Argentine woman kidnapped 32 years ago as a teenager has been found alive and well in Bolivia following a joint investigation between the two countries, Argentine police said Wednesday. Now 45, the woman was the victim of human trafficking at just 13 years old, police said. Bolivian officers had been gathering evidence on the woman’s whereabouts for several months at the behest of their Argentine counterparts, before locating her in a small town in the south of the country. Once Bolivian authorities gave the authorization, police liberated the woman and her son. The pair were transferred to Mar del Plata, her home town some 400 km (250 miles) to the south of Buenos Aires, where she was reunited with family, Argentine police said.

kidnapping
argentina
bolivia
human traffickers


36% of cancer patients in Japan spend final months in pain: survey

Abstract: About 36 percent of terminal cancer patients in Japan spent their last months in pain in 2016, according to a National Cancer Center survey. The result highlights the need to improve palliative care, the center said Wednesday. The questionnaire-based survey was conducted between February and March, covering 3,204 family members of cancer patients who died in 2016. Of them, 1,630 gave valid responses. Of the total, 39 percent were spouses and 40 percent children. The average age of the patients when they died was 78.1. Asked whether the cancer patients’ final months had been spent relatively pain-free, the respondents were given a choice of three positive and four negative answers. Of them, 52 percent answered they “strongly believe so,” “believe so,” or “sort of believe so,” and 36 percent answered they “don’t believe so at all,” “don’t believe so,” “don’t very much believe so,” or “it’s difficult to say.” Twelve percent didn’t respond. Those who recognized psychological pain in the patients accounted for 36 percent of the total. Regarding the situation a week before their deaths, 64 percent said their cancer-suffering family members were in physical pain, including 28 percent who sensed strong pain. Of the total, 42 percent answered that the nursing burden on families was heavy. The share of those who had experienced depression after the ordeal came to 17 percent. The focus of palliative care is to keep patients comfortable, mainly through narcotics for medical use. “We believe we can reduce the number of patients who suffer pain by improving palliative care,” said Masashi Kato, head of the center’s department for cancer treatment assistance. Next year, the center will expand the size of the survey to cover some 50,000 people nationwide to include terminal patients who died of heart and cerebrovascular diseases, pneumonia and kidney failure.

survey
cancer
national cancer center
palliative care


Osaka University approves iPS-linked clinical study for corneal damage

Abstract: OSAKA - An Osaka University team Wednesday obtained broad approval for its plan to conduct a clinical study on a method to treat patients with a damaged cornea by transplanting cells made from induced pluripotent stem (iPS) cells from other people. The team will now file for health ministry approval for the study. If approved, the team hopes to carry out the first transplant surgery in May or June. Four patients aged 20 or over with serious symptoms of a disease called corneal epithelial stem cell deficiency are slated to participate in the study. The cornea is the transparent portion of the outer fibrous coat of the eyeball. If corneal stem cells are lost due to injury or disease, its transparency will also be lost, leading to a drop in visual clarity and possible blindness. A current treatment option for patients with a damaged cornea is to receive a transplant from a donor, but hurdles for this treatment include rejection by the host and a lack of donors. The team, including Osaka University professor Koji Nishida, plans to create corneal epithelial stem cells from iPS cells stockpiled at Kyoto University’s Center for iPS Cell Research and Application. The newly created cells will be transplanted onto the patients’ eyeballs after being set in a sheet structure to examine the safety and effectiveness of the iPS-based therapy. “It’s very important to make the therapy widely available,” Nishida said. “We aim to offer a safe treatment to patients as soon as possible.” In Japan, iPS-derived cells have been transplanted into patients with serious eye disease and Parkinson’s, while clinical studies are planned for heart disease patients and people with damaged spinal cords.


Will Japan's decision to quit the IWC pay off?

Abstract: In its decision to quit the International Whaling Commission and resume commercial whaling, announced Wednesday, Japan prioritized the protection of the practice as part of the nation’s traditional culture over the potential backlash it could face from the global community. Behind the government’s decision were pro-whaling lawmakers, mainly of the ruling Liberal Democratic Party, whose constituencies include traditional whaling communities. “No country is allowed to complain about other countries’ food cultures,” LDP Secretary-General Toshihiro Nikai has argued. Nikai is from the well-known whaling prefecture of Wakayama. Hopes for a breakthrough in the deadlock at the IWC had grown in Japan ahead of a general meeting of the international body in Florianopolis, Brazil, in September, the first Japanese-chaired meeting in about half a century. Tokyo’s delegation was twice as big as at previous IWC meetings and ready to “fight with its back to the wall,” according to a senior official of the Fisheries Agency. But the proposal to restart commercial whaling was voted down at the key IWC meeting, sparking calls at home for the country’s withdrawal from the international body and movement toward that end by the government. “We gained understanding from Prime Minister Shinzo Abe” on the move, an LDP lawmaker said. Questions remain, however, about whether the Japanese decision will prove worthwhile as the move could damage international trust in the country. Meanwhile, annual consumption of whale meat in Japan has plunged well below 10,000 tons since commercial whaling was suspended in 1988, compared with levels over 200,000 tons in the 1960s, when whale meat was a major source of protein in the nation’s diet. It is uncertain whether the resumption of commercial whaling will lead to a rebound in domestic consumption, as many young people have never eaten whale meat and major retailers are reluctant to sell it due to possible criticism from opponents of whaling. Major seafood firm Maruha Nichiro Corp., which withdrew from the whaling business more than four decades ago, has recently made clear its intention not to reenter the business even after the government leaves the IWC. Nippon Suisan Kaisha Ltd. ended its production of canned whale meat in 2006 due to sluggish sales. “We can’t expect demand for dishes using whale meat,” said an official of a major izakaya (Japanese-style pub) chain. The resumption of commercial whaling, now planned for July next year, may not just draw protests from anti-whaling countries but could even provoke a domestic backlash. The planned move “could lead to Japan’s isolation from the international community,” said Yukio Edano, head of the main opposition Constitutional Democratic Party of Japan.


Anti-whaling group Sea Shepherd 'delighted' by Japan's IWC withdrawal

Abstract: LOS ANGELES - A U.S.-based marine wildlife conservation organization declared a “victory” in making the Antarctic Ocean a whaling-free zone after Japan announced its withdrawal from the International Whaling Commission to resume commercial catches in its economic zone in July. “Sea Shepherd’s objective of ending the slaughter of whales in the Southern Ocean Whale Sanctuary has been realized,” the Sea Shepherd Conservation Society said in a statement Wednesday. Japan has caught whales in the Antarctic Ocean for what it claims are research purposes, but states that aren’t part of the IWC are banned from conducting research whaling there. Paul Watson, the organization’s founder, said, “We look forward to continuing to oppose the three remaining pirate whaling nations of Norway, Japan and Iceland.” At the request of Japanese authorities, the International Criminal Police Organization has issued an international wanted persons alert for Watson in connection with two incidents that took place in 2010 against a Japanese whaling ship in the Antarctic Ocean. The Sea Shepherd, which describes its activism as “innovative direct-action tactics” that “confront illegal activities on the high seas,” has intervened in Japanese whaling in the Southern Ocean Whale Sanctuary since 2002, according to the nonprofit organization. In 2012, a U.S. appeals court ordered the group’s activists to cease “physically attacking” and interfering with Japanese vessels in the Antarctic Ocean.


About 40% of Japanese teens say sex education at school is useless: survey

Abstract: About 40 percent of those aged between 17 and 19 think sex education at school is useless, an online survey by the Nippon Foundation think tank showed Thursday. Almost one in four respondents said they have had sex, and three out of four said they were worried about sexually transmitted diseases. Nearly 90 percent feel contraception is necessary, according to the survey. In the survey conducted in October targeting 800 young people nationwide, 59.1 percent said sex education at school was useful but the remainder said it was of no help. One female respondent said schools should explain more about the importance of contraception, while a male said the dangers of sexually transmitted diseases should be given more emphasis. The questionnaire indicated students were dissatisfied with the lack of specifics taught, with one female student saying many teachers were vague in their expressions when teaching about sex. For a multiple-choice question asking respondents where they got information about sex, 55.8 percent cited websites, followed by friends at 50.2 percent. Of the total, 66.7 percent had masturbated, with 74.8 percent of them using smartphones to access explicit content and 8.8 percent simply fantasizing. Since September, the Nippon Foundation has been surveying teenagers to seek opinions on topics related to adult responsibilities. The legal age of adulthood in Japan will be lowered from 20 to 18 in April 2022 following a Civil Code revision. The minimum voting age was reduced to 18 after a revised election law came into effect in June 2016.


Lawson tests fried chicken-dispensing robot in Tokyo

Abstract: Major convenience store chain Lawson Inc. began experimenting Tuesday with a hot-and-ready food-dispensing robot that looks like its famous mascot, Karaage-kun, at an outlet in Shinagawa Ward, Tokyo. Karaage refers to Japanese fried chicken. The robot, Dekitate (ready-to-eat) Karaage-kun Robo, can prepare food quickly as well as increase efficiency among workers. Depending on the results of the trial, it may be used to make other kinds of fried food as well, according to Lawson. The robot is equipped with state-of-the-art technology that allows it to fry food in just over a minute. Originally, it used to take six minutes to prepare the food, which was kept warm until a customer made an order. Since the new robot is faster, the food is prepared after the order is placed and served fresh. Lawson President Sadanobu Takemasu said he wants to “maximize efficiency and minimize food preparation time.” The trial, which is only held during the daytime, will run until Dec. 28 at the Lawson outlet located inside the TOC Osaki Building near Osaki Station.


Mistrust of Huawei around the world imperils China's ambitions to lead tech revolution

Abstract: SHANGHAI - China’s ambitious drive to dominate next-generation 5G technology faces a sudden reality check as fears spread that telecom companies like Huawei could be proxies for Beijing’s intrusive security apparatus. Fifth-generation mobile communications are the next milestone in the digital revolution, bringing near-instantaneous connectivity and vast data capacity. They will enable the widespread adoption of futuristic technologies such as artificial intelligence and automated cars and factories — advances China is desperate to lead. With 5G’s rollout expected to gain pace in coming years, the race to dominate standards and control security and data traffic underpins much of the current high-tech rivalry between the United States and China, technology experts said. Huawei’s status as a leading world supplier of the backbone equipment for telecoms systems — mostly in developing markets — gives China an inside track. But analysts say mounting concern over Huawei imperils that lead. “This is a big threat because if Huawei loses access to lucrative Western markets, this will impact its ability to grow and finance R&D,” said Paul Triolo, a global technology policy expert with risk consultancy Eurasia Group. It also could hinder the deployment of 5G networks in China, which are “a key piece of China’s overall effort to upgrade its industrial base,” he added. The U.S. defense establishment fears China’s dominance of critical 5G infrastructure could enable it to disrupt American military communications or otherwise wage asymmetrical warfare in a confrontation. Triolo warned of potentially disastrous fallout for China if U.S. law enforcement efforts — in the spotlight after the arrest of Huawei executive Meng Wanzhou in Canada — result in a ban on sales of U.S. chips and other vital technology to Huawei. “This could be catastrophic for China’s tech ambitions, threatening (Huawei) itself, supporting industries and future development,” he said. New Zealand recently joined Australia and the U.S. in essentially barring use of Huawei equipment in domestic networks. Following Meng’s arrest on Dec. 1, similar sentiments have arisen from Tokyo to Brussels. On Monday, Kyodo News reported Japan’s top three telecom companies will forego procuring equipment from Huawei and another big Chinese player, ZTE. U.S. officials and lawmakers have long expressed concern that China could use its tech firms to steal trade secrets — accusations Chinese Foreign Ministry spokesman Lu Kang on Monday dismissed as “ridiculous.” “These people do not provide a single (piece of) evidence to show how Huawei affects their national security,” Lu said. Distrust of Huawei stems in part from the background of founder Ren Zhengfei, a 74-year-old former People’s Liberation Army engineer. The U.S. has already put the squeeze on ZTE, which faced insolvency earlier this year after the Trump administration temporarily banned American companies from selling vital components to it. Huawei has secured many leading 5G patents and supplied networking equipment for telecom systems around the world that will inevitably carry huge amounts of U.S. data, putting that information at potential risk. “One way to envision (the threat) is to imagine the person who built your house decides to burgle it,” James Lewis, a technology policy expert at the Center for Strategic and International Studies, wrote in an analysis last week. “They know the layout, power system, access points (and) may have kept a key.” But U.S. firms like Intel and Qualcomm produce the advanced chips critical for 5G, giving Washington huge sway over Huawei, which depends heavily on those technologies. If the U.S. cuts off Huawei’s chip supply and further isolates the company, the blow “will be huge, bigger than ZTE,” said Shi Yinhong, an expert on China-U.S. relations at Beijing’s Renmin University. “If Huawei is hit hard, China will lose its 5G lead.” China observers say President Xi Jinping’s more assertive global stance bears much of the blame for Huawei’s troubles. Late leader Deng Xiaoping famously observed that China’s strategy should be to “hide your strength, bide your time,” to avoid triggering a crippling foreign backlash. But Xi has dumped that, accumulating one-man power, scrapping term limits and openly declaring China’s ambition to become a high-tech power. Beijing also passed a law in 2015 obliging its corporations to aid the government on matters of national security. These moves have sparked alarm in the West, and the U.S. has accused Chinese entities of massive cyberattacks. “One of the biggest criticisms of Xi in China is: ‘Did he take the stage too fast, did he try to push Chinese power too soon?'” said Christopher Balding, a China expert at Fulbright University in Saigon. “He has behaved as near-totalitarian and is acting similarly internationally and people are saying, ‘We don’t like it.'”


In-house lawyers becoming more common in Japan, and nearly half of them are women

Abstract: In-house lawyers are becoming more common in Japan as a result of judicial system reform that was aimed at boosting the number of legal professionals and companies’ growing need to strengthen their legal work. In-house lawyers have only one client — the company that employs them. Their number has been growing noticeably since 2007, when legal apprentices began to complete the required course of education under the judicial system reform, accompanied by a large increase in the establishment of new law schools. The number of such lawyers totaled more than 2,000 in 2018, up from 146 in 2006, and is expected to keep increasing. According to the Japan In-House Lawyers Association, there were 2,161 such attorneys as of June, including 870 women. While women account for less than 20 percent of all lawyers, the proportion rises to more than 40 percent for in-house lawyers. Many respondents to a JILA questionnaire said they chose this career path to “achieve a work-life balance” or “work close to the front line of business.” Yoko Kano, a lawyer in the legal department of Hitachi Transport System Ltd., said she “wanted to work with colleagues as a team.” “I also thought of a work-life balance,” Kano said, recalling her decision to join the major logistics company in 2012. She enrolled in law school after working for a company and passed the law examination in 2010. Kano was the only lawyer when she joined Hitachi Transport and has been involved in major projects. “Commitment to business gives me both joy and agony,” she said. “I’m 99 percent a company employee, but the remaining 1 percent of my identity is a lawyer.” Noriyuki Nakazawa, a lawyer working for adhesive-maker Cemedine Co., said, “I consider my license as a lawyer to be an effective tool in name and reality to secure employment.” Nakazawa worked as a company employee after receiving a postgraduate degree in science and then enrolled in law school. After passing the bar in 2011, he joined Cemedine as its first in-house lawyer. “It didn’t matter whether I found employment at a law office or not, but I wanted to work for a company,” he said. At Cemedine, Nakazawa takes part in a wide range of services, including examining contract documents, dealing with complaints and shareholders meetings, and offering legal compliance education to employees. He is also busy with frequent requests from various sections of the company for legal advice. “I am depended on because I am a lawyer,” Nakazawa said. The number of in-house lawyers has increased sharply because the population of attorneys has grown at a time when companies need to reinforce their legal work amid greater emphasis on compliance and the globalization of business operations, said Takuo Murase, an executive member of the JILA. “Lawyers joining companies from law offices are increasing in number these days,” Murase said. “I wouldn’t be surprised if the total figure for in-house lawyers reaches 4,000 to 5,000 in the future.”


Nikkei extends losses on external uncertainties

Abstract: Stocks lost further ground Tuesday, as investors stayed cautious over the course of U.S.-China trade friction and other external uncertainties. The Nikkei 225 average lost 71.48 points, or 0.34 percent, to end at 21,148.02, a level unseen since March 28 on a closing basis, after plunging 459.18 points Monday. The Topix, which covers all first-section issues on the Tokyo Stock Exchange, closed 14.50 points, or 0.91 percent, lower at a year-to-date low of 1,575.31. It shed 30.64 points Monday. After opening slightly higher on the heels of a modest rally in U.S. equities, both indexes were mired in negative territory for most of Tuesday’s session in the absence of active buyers. Uncertainties over the outlook of Britain’s exit from the European Union also sapped investors’ buying appetite, brokers said. “The environment for investment is fairly weak,” an official of a major securities firm said. Sporadic selling to cash in stocks ahead of the Dec. 19 listing of SoftBank, the mobile phone unit of major internet and telecommunications conglomerate SoftBank Group, weighed on the market, an official of a bank-affiliated securities firm said. Although there is no major deterioration in economic data, investors appear to believe that the economy has hit a peak, an official of a midsize securities firm said. Falling issues far outnumbered rising ones 1,745 to 324 in the first section, while 54 issues were unchanged. Volume increased to 1.476 billion shares from 1.383 billion Monday. Nissan lost 3.1 percent after the automaker and former Chairman Carlos Ghosn were indicted over a pay scandal Monday. Keyence and Yaskawa Electric met with selling after Credit Suisse Securities (Japan) Ltd. lowered their target stock prices, brokers said. Other major losers included construction machinery maker Komatsu and oil names Idemitsu and JXTG. On the other hand, major gainers included retailer FamilyMart Uny and SoftBank Group.


Dollar firms to above ¥113.10 in late Tokyo trading

Abstract: The dollar was firmer above ¥113.10 in Tokyo trading late Tuesday amid a wait-and-see mood. At 5 p.m., the dollar stood at ¥113.11-11, up from ¥112.65-66 at the same time Monday. The euro was at $1.1369-1370, down from $1.1425-1425, and at ¥128.60-61, down from ¥128.71-72. The dollar rose above ¥113.30 in early trading thanks to spillover effects from its strengthening against the euro amid uncertainties over Britain’s exit from the European Union, traders said. The U.S. currency dropped to levels around ¥113 later in the morning as the Nikkei 225 average moved on a weak note. After firming back above ¥113.10 in the afternoon, helped by a rise in long-term U.S. interest rates, the dollar moved directionlessly in late trading as market players took a wait-and-see stance to see the course of Brexit negotiations, traders said. Media reports on telephone talks between Chinese Vice Premier Liu He and U.S. Treasury Secretary Steven Mnuchin on trade issues gave a temporary boost to the dollar versus the yen in the morning, a currency broker said. But “dollar buying lost momentum afterward,” the broker said. “Investor concerns over U.S.-China trade friction appeared strong.” “Investors will likely find it difficult to boost trading” for sometime, an official of a major Japanese bank said, citing unfavorable external environments.


Tokyo firm to help non-Japanese find work under new visa category

Abstract: A company called one visa Inc., which supports online visa applications, has announced plans to launch new services for foreign workers hoping to come to Japan under a newly created visa category. The Tokyo-based company will collaborate with Kansai University and Seven Bank to help prospective foreign workers receive Japanese-language education and open a bank account in Japan after their arrival, according to the plans announced Monday. The visa category, including for blue-collar workers, is one of two categories to be introduced next April under the revised immigration control law that was enacted Saturday. The aim is to accept more foreign workers to ease the labor shortage in the face of the declining population. The company will introduce prospective foreign workers to Japanese-language schools in their countries and to places of employment in Japan. It will in turn receive fees from relevant businesses. The company has already opened a training center in Cambodia under the supervision of Kansai University to help people learn Japanese and other skills. The center is funded through fees paid by companies and does not collect tuition from students who wish to work in Japan, officials of one visa said. To help foreign workers live and settle in Japan, one visa plans to provide rent guarantee services by using credit scores based on their information at the time of visa acquisition and income information obtained from their workplaces in Japan. Seven Bank aims to use the information to shorten the time necessary for foreign workers to open a bank account to a few days from the roughly six months it usually takes due to various checks. One visa will set further details of the new services after examining government and ministerial ordinances on the new visa program, the officials said.


Climate policies put world on track for 3.3 C warming, still far above target in Paris accord, study shows

Abstract: KATOWICE, POLAND - Average world temperatures are on track to far exceed the central goal set in the 2015 Paris agreement on limiting global warming, a study showed on Tuesday. But the overshoot by the end of this century could be slightly less severe than previously expected thanks to significant efforts by some countries to combat climate change, said the report by Carbon Action Tracker — a consortium of three independent European research groups. The Paris deal aims to restrict warming to “well below” 2 degrees Celsius above pre-industrial times. The CAT report said there had been some progress on the ground since 2015, and current policies meant the world was heading for warming of 3.3 degrees. That compared with the 3.4 degrees it predicted a year ago, and it said that if governments were to implement planned or extra policies they had in the pipeline, warming by 2100 could be limited to 3 degrees. Even a rise of 3 degrees could cause loss of tropical coral reefs, alpine glaciers, Arctic summer sea ice and perhaps an irreversible melt of Greenland’s ice that would drive up world sea levels, a United Nations science panel has said. The U.N. Intergovernmental Panel on Climate Change said in October that keeping the rise to 1.5 degrees was possible but would require rapid and unprecedented changes in human behavior. “We have yet to see this translate into action in terms of what governments are prepared to put on the table,” said Bill Hare, chief executive of Climate Analytics, one of the three CAT research groups. Since the Paris accord was agreed upon, countries including Argentina, Canada, Chile and India plus the European Union have been moving in the right direction towards cutting emissions. “If extended and scaled, these combined efforts could begin to bend the global emissions curve,” the report said. But other countries such as the United States, Australia, Brazil, Indonesia, Russia and the United Arab Emirates have made either no progress or taken backward steps.

global warming
climate change
paris agreement


Fish sperm sacs, maggot cheese or virgin boy eggs — bon appetit at the Disgusting Food Museum

Abstract: LOS ANGELES - Care for some fish sperm sacs, maggot cheese, fried tarantula or a bat? Or how about fried locusts, grasshoppers or virgin boy eggs? These delicacies are among some 80 items featured at the Disgusting Food Museum that opened in Los Angeles on Sunday, aiming to expose visitors to different cultures and foods and what we may all be eating in the future. Samuel West, the museum’s founder, said he came up with the idea for the two-month exhibit — which first opened in his native Sweden in October — in light of the ongoing debate about environmentally sustainable sources of protein and food security. “If we can change people’s notions of disgust, maybe we can also open them up to new sustainable proteins,” said West, pointing to platefuls of Iru locust beans eaten in Nigeria, mopane worms eaten in South Africa or Nsenene, grasshoppers considered a delicacy in Uganda. The entrance ticket to the museum in downtown Los Angeles is a vomit bag that visitors can use should any of the items from some 40 different countries be too much to stomach. Some of the foods on display might be considered revolting because they simply stink. That includes French Epoisses cheese, shark meat from Iceland or surstromming, a Swedish delicacy that is considered one of the most pungent dishes in the world and is usually eaten outdoors. It consists of fermented Baltic Sea herring and is so smelly that it reportedly got one tenant in Germany kicked out by his landlord in 1981 after he opened a can of surstromming in the apartment building’s stairwell. Other foods in the exhibit could be considered disgusting because of the way they end up on our plate and include Chinese mouse wine, which involves drowning and brewing baby mice in rice wine. And let’s not forget the virgin boy eggs, a traditional dish in China made from boiling eggs in the urine of young boys. Of course Japan, home of a number of stomach-turning dishes, is also featured at the museum, with one exhibit being shirako (fish sperm sacs). Andreas Ahrens, co-curator of the exhibition, said the foods chosen haven’t gone down well with several countries that have taken offense. “The Vegemite from Australia is causing a bit of an international incident,” he said, referring to the thick, black food spread. “They have been quite pissed off that we’ve included it in the exhibit. “The Americans are upset about the Root Beer and Twinkie … and we’ve had Peruvians upset that we have included Cuy, or roasted guinea pig, a famous Peruvian dish.” He said focusing on the word “disgusting” misses the point of the exhibit. “This is aimed at getting people to realize that we shouldn’t judge the foods of other cultures as disgusting so quickly,” Ahrens said. “But if we would have named this the Museum of Sustainability or the Exhibit of Cultural Differences, no one would come. “It wouldn’t be interesting.”


Majority of Australian women sexually harassed at work: survey

Abstract: KUALA LUMPUR - Two in three Australian women have been sexually harassed at work, with the majority of cases unreported, according to a survey released on Tuesday that highlighted challenges activists said prevent women from advancing in their careers. Some 64 percent of women and 35 percent of men said they had been harassed at their current or former workplace, according to the survey of over 9,600 people by the Australian Council of Trade Unions, the country’s main group representing workers. The majority of those surveyed said they were subjected to offensive behavior or unwanted sexual attention. However only about a quarter of them made formal complaints, due to fears of repercussion, the survey found. “Everyone should go to work free from the fear of harassment and unwanted sexual attention,” the council’s president, Michele O’Neil, said in a statement. “For many people — mainly women — today in Australia this is not the reality. Our workplace laws have failed women who are experiencing harassment at work.” Campaigners said sexual harassment creates a workplace environment that is discriminatory towards women, which can prevent them from moving forward in their careers. “Sexual harassment in the workplace closes off women’s opportunities and supports the attitudes that make violence more likely,” Merrindahl Andrew, from the Australian Women Against Violence Alliance, said by email. Australia was ranked 35 out of 144 countries in the World Economic Forum’s 2017 Gender Gap Index, up from 46 in 2016 due to greater female representation among legislators and managers. Although the global #MeToo movement has helped raised awareness about sexual harassment, the advocacy group Plan International said the lack of strong policies and enforcement has discouraged victims from coming forward in Australia. “The survey finding is disturbing, yet not surprising to us,” said the group’s chief executive in Australia, Susanne Legena. She urged the government to improve reporting mechanisms, including by setting up a specific hotline and enhance training for police officers to fight underreporting of cases.


U.S. levels sanctions at three North Korean officials over human rights abuses

Abstract: WASHINGTON - The United States said Monday it was imposing sanctions on three senior North Korean officials over human rights abuses, despite President Donald Trump’s efforts to woo the regime into a denuclearization accord. The sanctioned officials include Choe Ryong Hae, who has been considered a right-hand man to leader Kim Jong Un. The Treasury Department said it was taking action against “North Korea’s reprehensible treatment” of its citizens in accordance with a 2016 U.S. law that requires sanctions over rights abuses. “The United States has consistently condemned the North Korean regime for its flagrant and egregious abuses of human rights and fundamental freedoms, and this administration will continue to take action against human rights abusers around the globe,” Treasury Secretary Steven Mnuchin said in a statement. The orders — announced on the U.N.-backed Human Rights Day — include the seizure of any assets of the three officials in the United States and a ban on any U.S.-based financial transactions with them. Such restrictions may have little immediate impact on officials in one of the world’s most closed countries but will have a clear symbolic impact as North Korea seeks greater acceptance by the United States. Kim and Trump held a first-of-a-kind summit in June in Singapore as North Korea seeks a historic declaration of the end of the 1950-53 Korean War. Choe is one of the closest aides to Kim and has been described in the past as the effective number-two in controlling the military. He is often trusted to conduct foreign policy or make high-profile announcements. At a major military parade last year, he warned that North Korea was ready to “beat down enemies with the power of nuclear justice.” The Treasury Department noted that Choe is head of the ruling Workers Party’s Organization and Guidance Department, which enforces ideological discipline and ensures that all officials keep in line. Another of the officials targeted is Jong Kyong Thaek, the minister of state security. According to a State Department report submitted to Congress, Jong directs censorship as well as human rights violations by the ministry, which is the regime’s chief counterintelligence agency.

u.s .
north korea
human rights
kim jong un
u.n .
sanctions
denuclearization
choe ryong hae


Japan to offer men aged 39 to 56 free rubella vaccinations for three years to combat outbreak

Abstract: The government said Tuesday it will offer free rubella vaccinations for three years to men who were unvaccinated in their childhood amid an outbreak of the disease that threatens to dampen demand for travel to Japan. Rubella can have serious health impacts on unborn babies, and vaccinations and antibody tests will be offered free, in principle, through March 2022 for men aged between 39 and 56 who were not vaccinated under regular public programs. The number of rubella patients in Japan has reached 2,454 this year, topping the figure for 2012 when the previous outbreak began, and the spread is believed to be mainly caused by unvaccinated men in the targeted age group. Tests and vaccinations will be administered at medical institutions in residential areas from early next year. If unborn babies are infected with rubella through their mothers in the early stages of pregnancy, they can suffer birth defects such as hearing impairments, cataracts and heart disorders. The government will call for cooperation from businesses and clinics so that people can take antibody tests during regular health examinations in the workplace, or get vaccinations at night or on weekends at medical institutions. “We are taking this step to give people a sense of assurance. We will support municipalities’ measures,” said health minister Takumi Nemoto. In late October, the U.S. Centers for Disease Control and Prevention raised its alert level for the rubella outbreak in Japan to Level 2, the second highest of 3 levels, warning that pregnant women should not travel to the country unless protected against the disease through vaccination or previous infection. To avert a potential vaccine shortage, people are first asked to take antibody tests. Both antibody tests and vaccinations will be free for men born between April 2, 1962, and April 1, 1979, over the three-year period. Although 92 percent of Japanese are immune to rubella, the percentage falls to about 80 percent for men in the targeted age group. The government aims to raise the proportion to 85 percent or more by the time the Tokyo Olympics and Paralympics begin in 2020, and to over 90 percent by the end of March 2022. According to the World Health Organization, 85 percent of people in all generations need to be immunized against the disease to attain “herd immunity” that can prevent a disease from spreading. A rubella epidemic could last several years, regardless of season and weather conditions, according to experts. Japan’s vaccination policy has changed many times and men aged between 39 and 56 were not given the opportunity to be immunized against rubella through regular public vaccination programs offered by municipalities. Vaccination rates for both men and women aged between 31 and 39 are also low as they needed to go to clinics individually to get vaccines rather than being immunized in groups when they were in junior high school. In the wake of the epidemic, some municipal governments and companies have started offering free antibody tests or vaccinations. Among companies in the nation that are taking initiatives to combat the outbreak, Rohto Pharmaceutical Co. began covering the full costs of rubella vaccinations for around 1,700 employees from October. Believing that many workers are unable to find time to go to clinics to be immunized, the company decided to organize group vaccinations at its offices in Osaka, Tokyo and Kyoto.


Juntendo University treated female medical school applicants unfairly in entrance exams, says report by third-party panel

Abstract: Juntendo University treated applicants, mostly women, unfairly during its medical school’s entrance examinations during the 2017 and 2018 academic years, a report by a third-party committee confirmed Monday. The committee, headed by lawyer Keisuke Yoshioka, said in its primary report that the university has “improperly treated (applicants) by abusing its discretionary power.” According to the report, the unfair treatment started with the entrance exam for the year beginning April 2008 or before, and such acts were not considered problematic at the university. The university explained to the committee that it raised the bar for women in entrance exams in order to “narrow the gap with male students” in interviews, in which women generally excelled over men in communication abilities. Female applicants tend to be more mature than their male peers, and they generally scored higher in interviews, the university said. It also said the limited capacity of a dormitory for all new female students was also behind unfair treatment of female applicants. The committee found such discrimination against women to be lacking a sound basis, and the university has decided to abolish its unfair practice in entrance exams for the 2019 school year and beyond. “I deeply apologize for causing great trouble and anxiety to examinees, guardians and other concerned people,” Juntendo University President Hajime Arai told a news conference the same day. The university said it is willing to admit a total of 48 people who were rejected in the second-stage exams of essays and interviews due to the unfair practices during the past two years, and will ask whether those applicants still wish to enter the school. Of the 48, 47 are women. It will also return fees for the first-stage exams to a total of 117 applicants who failed to pass due to unfair decisions.

women
discrimination
entrance exams
juntendo university


Lawsuit filed against Japan's state-funded ceremonies to mark Imperial enthronement

Abstract: Members of religious groups and other citizens sued the government on Monday, claiming that planned public spending on ceremonies involving the enthronement of Crown Prince Naruhito next year violates the constitutional principle of separation of religion and politics. The 241 plaintiffs including Christians and Buddhists filed the lawsuit with the Tokyo District Court, seeking damages of ¥10,000 per person and an injunction against the spending. In their complaint, they claim that Sokui no Rei ceremonies and the Daijosai ritual featuring the new Emperor and the year’s harvest “give a mythological explanation of Japan’s establishment and structure and mean there is a connection between Japanese people and a transcendent existence through state Shinto rituals conducted by the Emperor.” The spending of public money on the ceremonies breaches the constitutional principle and puts psychological pressure on people believing in religions other than Shinto, they said. “The courts have to stop the government and the legislative” branch, a lawyer representing the plaintiffs told a news conference after filing the lawsuit, expressing hope for “a proper constitutional judgment.”

courts
constitution
royalty
emperor akihito
tokyo district court
imperial family
emperor naruhito


Over 200 hopefuls planning to run in next summer's Upper House election, survey finds

Abstract: A total of 208 people are planning to run in the Upper House election slated for next summer, a Jiji Press survey has shown. Maintaining a majority of at least 123 seats in the upper chamber of the Diet is an absolute must for the ruling Liberal Democratic Party and its coalition partner, Komeito. Meanwhile, major opposition parties are trying to unify as many candidates as possible in constituencies with only one seat up for grabs in the election. In the race, 124 of the Upper House’s 245 seats will be contested. Japan holds an Upper House election every three years, putting half of all seats up for election each time. The government and the ruling bloc are considering convening an ordinary Diet session in late January. In that case, the Upper House election is likely to take place on July 21. It will be the first Upper House poll since the enactment of the revised public offices election law in July 2018 to increase the number of the chamber’s seats by a total of six in order to reduce vote-value disparities. The six include three which will be contested in the 2019 poll. In prefectural constituencies, the total number of seats to be contested in the upcoming election increased by one to 74, which include two pairs of sparsely populated neighboring western prefectures—Tottori and Shimane, and Tokushima and Kochi. The number of seats under the proportional representation system rose by two to 50. The ruling parties have a total of 70 seats that will not be contested in the next election. They need to win at least 53 seats in order to maintain their majority. Five major opposition parties, including the Constitutional Democratic Party of Japan, are working to unify candidates in single-seat constituencies. The five have reached an agreement in some of the constituencies, but in other districts, they are still apart. It is unclear whether they will be able to establish broad-based cooperation to counter the ruling camp.


Social media and online outlets led charge for change in 2018

Abstract: A reflection of how the internet functioned in Japan in 2018 can be seen in a recent incident at Shinjuku Station. On Dec. 18, Twitter user @Diablo_Lucifero warned women using the transportation hub to be on the alert for multiple men who were apparently going out of their way to shove female commuters. They uploaded a photo of what they claimed was an arm that had been injured in one such attack, adding that a colleague had also suffered damage to their ribs. The post attracted responses reporting similar incidents , while the whole situation soon went viral . If this sounds familiar, it’s because a similar attack was reported earlier in the year and was even captured on a smartphone camera . It was one of the most buzzed-about stories online, and has resurfaced once again. As @Diablo_Lucifero suggests, the police don’t appear to have investigated the reports, despite plenty of people discussing it on social media and substantial evidence being uploaded. The internet — from social media to a newer generation of publications based online — have stepped in to fill in gaps that traditional media outlets often ignore. Results aren’t guaranteed — the case of men intentionally targeting women shows that those who could actually do something (that is, the police) are failing — but it’s casting a light nonetheless. Generally, the internet in Japan has long been cast as a haven for right-wingers to complain about the rest of Asia. That image isn’t entirely wrong — 2chan still leans right, and remains one of the most popular destinations for web discourse in the country — but in 2018, it definitely felt more diverse. While not quite as visible, the nation’s left-leaning netizens were perhaps more content with the nature of the discourse this year, such as that seen during a controversy centered around the perceived nationalism present in rock band Radwimps’ song “Hinomaru .” Putting extremism aside for a second, it was certainly noticeable how many middle-of-the-road folk were using social media this year. More people use their smartphones to surf the net these days and with more ordinary users refraining from offering highly politicized views, the general discourse on the internet doesn’t seem to be nearly as polarized as it once was. Online attitudes in 2018 tended to lean a smidgen more progressive as a result — or, at the very least, they weren’t behind-the-times. The responses to Masatoshi Hamada’s blackface scandal and Ken Horiuchi’s use of women as cleaning supplies generated a torrent of negative reaction, with the usual “they don’t understand why it’s so bad” defense quieter than in previous years. People rallied around hashtags that struck back at misogynists . Fake information and outright lies overwhelmed Twitter everywhere in 2018, but Japanese users deserve credit for being extra vigilant in highlighting them, especially during natural disasters . Social media isn’t perfect, of course, with plenty of familiar jingoistic rhetoric present. The platform also impacted the #MeToo movement. While many supported the movement, it inspired some to come out of the digital woodwork to attack those speaking up about their experiences, while others took it a step further and created a #WeToo campaign . Coupled with the lack of impact on the people holding positions of power, social media is considered to be a legitimate place to criticize the country’s online spaces. More generally, web-focused outlets have risen up to provide news and perspectives often ignored by traditional news groups . BuzzFeed Japan and Huffington Post Japan , among others, offered up a slightly more progressive take on the nation’s news, focusing on issues such as sexism, LGBTQ rights and much more. Not all of the outlets got through 2018 unscathed — Huffington Post found themselves skewered by netizens in the wake of reporter Rio Hamada asking U.S. tennis star Naomi Osaka about her identity — but they did gain more prominence as the year progressed. Among those were myriad cases of politicians — all from the Liberal Democratic Party — making discriminatory comments. The above mentioned sites were joined by general online users in highlighting how ridiculous comments made by Mio Sugita and Tom Tanigawa , among others, about LGBTQ individuals were. The best example of this convergence, though, came after the magazine Shincho 45 dismissed LGBTQ issues as insignificant in response to the Sugita flap. Social media users tore into the ridiculous and reductive arguments outlined by the publication, while online and traditional outlets also zoomed in on it. Things got so bad that Shincho 45’s own Twitter account went rogue in protest. The end result? The magazine suspended the publication of Shincho 45 in September. Japanese netizens became their own force for controlling ridiculous opinions and dangerous actions in 2018. With 2019 around the corner, it’s the perfect time to watch and see how the institutions at the top respond.

social media
naomi osaka
radwimps
mio sugita
tom tanigawa


Heisei Era a bumpy ride for Japan's media organizations

Abstract: The media is busy assessing the Heisei Era as it comes to a close. Although not as dramatic as the Showa Era, it’s been a bumpy ride. Japan still hasn’t gotten the hang of this democracy thing, and an engaged, objective press is essential to a functioning democracy. As the following rundown illustrates, however, the jury is still out as to whether Japan’s press meets those criteria. Media person of the year: Takanohana It’s appropriate that one of the defining personalities of the Heisei Era would bow out during its last full calendar year. The heirs to perhaps the greatest legacy in sumo history, Takanohana and his older brother, Wakanohana, grew up in the media spotlight and remained there through their wrestling careers and afterward, but only Takanohana decided to stick with the sport as a stablemaster and organization elder. After years of putting up with his eccentricities and stand-offish manner, the media eventually turned on him — although his being forced out of sumo this year was a crisis of his own making. The particulars of that crisis are perhaps too arcane for many lay people to grasp, but having been told back in the ’90s that Takanohana was the generational lynchpin in the ideal Japanese family and then to see that family disintegrate over time to the tune of hackneyed gossip, anyone would be wary of the media’s pronouncements. The November news that Takanohana and his wife had divorced was simply the straw that broke the back of his respectability. Takanohana was already estranged from his mother, brother and son, all of whom have their own rows to hoe as celebrities. What made Takanohana interesting is that his religious regard for sumo really did outweigh any desire for fame and material well-being. Some will say that’s noble, but there was probably no calculation involved. Takanohana was always an odd one and that’s probably how he’ll be remembered. Salaryman of the year: Kei Komuro When Princess Mako, older daughter of second-in-line-to-the-throne Prince Akishino, announced her intention to marry salaryman Kei Komuro in September 2017, the press played up the romance. The two had met in university and were going steady. There were no go-betweens or royal fixers involved in their union. They loved each other and that was that. However, the tabloid press, being what it is, couldn’t stay that way. Over the past year, reports of debts that Komuro’s mother owed a former boyfriend circulated, causing so much concern that Prince Akishino himself supposedly questioned the match. Then, when Komuro was accepted at Fordham University in New York to study for a law degree, the rumor was that the Imperial Household Agency, which oversees royal matters, had somehow rigged the outcome in order to get Komuro away from Mako in the hopes their passions would cool and the two would quietly break up. In any event, the wedding has been indefinitely postponed. As royal intrigues go, it’s hardly Shakespeare, and by most objective measures Komuro is a catch, a nice guy who supports his widowed mother and works hard at his job in a law office. Regardless of how he got into Fordham, if he passes the New York State bar exam, he will have a valuable credential that should guarantee him a lucrative and fulfilling career. That the tabloids and weeklies call all of this into question is predictable and depressing, regardless of your feelings about the Imperial family. Next year, of course, Japan will get a new emperor and Komuro’s travails may fade from the media’s collective consciousness. Kei, we hardly knew ye. Issue of the year: Henoko The contrasting relationship between Okinawa and the rest of Japan has always been characterized by cultural and historical signifiers that were presented by the latter as mostly anecdotal. Okinawans — not all, but a good portion — would say that the differences run deeper, as do the attendant emotions, which were fully apparent this year due to ongoing protests against the construction of an airfield for U.S. forces stationed at Camp Schwab on the coast of Henoko. Until recently, press coverage mirrored the cultural dynamic. The mainland media looked at it as a matter of solving the problem of Futenma air base, which is situated dangerously in the middle of the city of Ginowan, while local media insisted it was all about Okinawan sovereignty: The central government, in thrall to the American military, continued to sacrifice its southernmost prefecture to the alliance so as not to risk provoking any of the other 46 prefectures by transferring Futenma’s functions out of Okinawa. As construction began, the mainstream media could no longer avoid the local media’s point , and many of the former have been pursuing the idea that Henoko is not only undemocratic, but unsuited to its purpose. Recently revealed surveys show that the seabed where the runway is being built may not be able to support it geologically . In terms of future PR, the government has its work cut out for it, as does the mainstream media. Most valuable player: Jumpei Yasuda Freelance reporters don’t get much love in Japan. By choosing to be freelancers they imply they aren’t team players, but since most mainstream media outlets are indistinguishable in terms of content, freelancers have an advantage in terms of individual style and outlook, as long as they can find somewhere to publish or broadcast their stories. Jumpei Yasuda distinguished himself quite starkly this year. He had been held captive by militants since entering Syria in 2015, and, based on what has happened to other international reporters in similar situations, it was feared he wouldn’t make it out alive, but he did, only to return to a country that didn’t trust him, since he violated government directives against journalists venturing into conflict areas. He apologized for his incaution and took responsibility for his plight, but also insisted the stories he pursued meant something. In other words, he felt bad if he made people worry, but didn’t think he did anything wrong. It’s still too soon to say if his matter-of-fact attitude and lack of self-reflection will affect his job prospects. Some pundits resented his recklessness, but an equal number believe he has nothing to feel sorry about. The fact that those people thought they should say so publicly may be good news for Japanese journalism in general.

henoko
takanohana
jumpei yasuda
kei komuro


10 same-sex couples to sue Japanese government over marriage equality

Abstract: Ten same-sex couples will jointly file a lawsuit against the government in February for not recognizing marriage equality, their lawyers said Friday. The couples argue that the government’s position on same-sex marriage flouts equality under the law and freedom of marriage as protected in the Constitution. The couples, who are seeking compensation, will file the suit in district courts throughout the country, including Tokyo and Nagoya. Article 24 of the Constitution says, “Marriage shall be based only on the mutual consent of both sexes.” The government has indicated that it interprets this to apply only to heterosexual couples, while the lawyers working for the couples argue that some legal scholars do not see it as prohibiting same-sex marriage. The government also argues that the term “husband and wife” used in the civic law and the family registration law indicates a man and a woman, and thus cannot accept marriage applications from gay and lesbian couples. Marriage equality has already been legalized in other parts of the world. The Netherlands was the first to do so in April 2001, followed by other European nations. “We want our call to be widespread so that the freedom to marry will be recognized for everyone,” said Shinya Maezono, one of the lawyers.

lgbt
sexuality
discrimination
same-sex marriage


5G: A costly revolution not without risks

Abstract: PARIS - The recent diplomatic dust-up over the Chinese telecommunications company Huawei, one of the leaders in developing equipment for fifth-generation mobile networks, has demonstrated that this technology, which promises to enable an internet of things and self-driving vehicles, also poses risks. What is 5G, what will it be able to do, and what are the risks? What is 5G? 5G stands for the fifth generation of mobile network technology, which should begin to be rolled out in 2020 in Asia and the United States. Each generation has offered improvements in data transmission speed and capacity, but with 5G, the networks are really set to make the transition from telephony to other objects. What will it be able to do? The much vaunted internet of things has so far been hobbled by the limitations of mobile networks, both in terms of handset transmission speeds and the fact that the backbone of the networks hadn’t been expanded sufficiently in many cases to handle huge volumes of data. With 5G, transmission speeds should accelerate sufficiently to allow for self-driving cars to take to the roads or for doctors to conduct operations remotely. It will also cut the cord on augmented and virtual reality. The ability to connect more sensors will help make many services “intelligent,” such as helping manage traffic flow and telling the sanitation department when garbage bins need to be emptied. Industry in particular is looking to 5G to reinvent manufacturing and allow it to monitor all sorts of processes. Why does 5G pose security risks? The first reason is that more data and more types of it will be traveling across 5G networks. Much of the data transmitted by sensors could be sensitive, such as information about manufacturing processes that business rivals would be interested in acquiring. Or the data from our homes that could be gleaned to determine all sorts of things about us. The treasure chest of data for hackers is getting much, much bigger. A second reason is that an increased reliance on the mobile network means its disruption would have even more serious consequences, both in terms of safety and economic activity. A failure during a remotely guided operation could lead to the death of a patient or the crash of a self-driving car. A longer outage could disrupt an economy. This poses national security risks. While the diplomatic spat over the arrest of Huawei’s chief financial officer was based on accusations related to the alleged violation of U.S. sanctions on Iran, the United States has long-standing concerns about Chinese telecommunications equipment serving as a Trojan horse for Beijing’s intelligence and military. Huawei is a major manufacturer of equipment used to build 5G networks, and given recent revelations about chip and motherboard tampering, the U.S. defense establishment fears Huawei’s equipment could enable it to disrupt American military communications or otherwise wage asymmetrical warfare in a confrontation. The United States has essentially barred use of Huawei equipment in domestic networks, as have Australia and New Zealand, with other countries considering following suit. Deliverance or disappointment? The promises are always hyped, but the delivery is often a disappointment. Early buyers of 4G smartphones were often let down: Their handsets could handle nippy speeds, but the backbones of their networks were often not yet bulked up to handle the higher data flow. Operators have since built up the capacity of their backbone networks, but if 5G is to keep its promise, an enormous number of base stations will be required. Otherwise, users will be forced back onto slower networks. In the meantime, operators are having to invest billions to roll out 5G, which is an issue because competition in many countries has hemmed in prices companies can charge consumers. While most analysts believe operators will in the end be able to finance building the new networks, they may not initially be dense enough to handle some of the most anticipated applications. Building a dense network of base stations along highways to handle self-driving vehicles will be a costly endeavor, for example, and operators may find themselves seeking partners from users of new services.

internet smartphones computers huawei 5g


Fate of $1 trillion in risky U.S. loans may be in Japan's hands

Abstract: LONDON/HONG KONG - Japanese banks might have snapped up a third of the loans made to highly indebted U.S. companies, propelling the size of the market past $1 trillion, a new estimate from UBS Group AG suggests. Years of low yields spurred investors to pour money into leveraged loans — credit extended to companies with the weakest balance sheets. Such assets were pitched as a haven for those worried about the prospect of rising interest rates, and were often repackaged into so-called collateralized loan obligations (CLOs) with credit enhancements to protect investors. Now the worry is that cracks are beginning to develop in what was once one of the hottest products on Wall Street. A record $2.53 billion was yanked out of leveraged-loan funds in the week ending Dec. 12, while Wells Fargo & Co. and Barclays PLC recently took the rare step of pulling a $415 million deal from the market. Just 0.9 percent of U.S. loans tracked by Citigroup Inc. trade above par, or face value, compared with more than 70 percent just a few months ago. Japanese banks have been buying the top-rated AAA pieces of CLOs because they have higher yields than like-rated sovereign debt, according to UBS, with the lenders making up about 33 percent of inflows into the asset class in the past several years. While the demand is vulnerable to a pullback, it should help provide stability to the market in the face of a recent sell-off, the bank said. “The Japanese bid for U.S. loans will not be easily broken,” analysts led by Stephen Caprio wrote in research published last week. “Most Japanese banks are buy-and-hold investors; outright selling will be fairly limited unless the prospect of outright credit losses becomes likely, necessitating much higher recession risk than today.” It is one example of a broader trend of Japanese investors looking for returns overseas after being faced with zero yields at home. Many of the CLOs were bought through so-called repacks, in which dollar-denominated assets are essentially repackaged into yen using a special purpose vehicle and a currency-swap agreement with another bank. Japanese banks may be buying between half and three-quarters of AAA-rated CLO tranches, UBS said, citing evidence from clients and analysis of the market for cross currency basis swaps. Without the Japanese bid for AAA-rated CLO paper, top-rated CLO spreads would likely widen back to at least 2014 levels, or 50 basis points wider, the bank estimated. An indicative estimate by the Bank of England in November said “international banks, particularly U.S. and Japanese banks” held one-third of the stock of global CLOs, concentrated in less-risky tranches. The size of the leveraged loan market has ballooned to $1.1 trillion from $682 billion in 2014, according to UBS. That is not far from the $1.2 trillion worth of junk-rated corporate bonds outstanding, a market that has also exploded in size thanks to years of low interest rates and yield-hungry investors. “Leveraged loans have supplanted junk bonds as the home for more risky credit,” the UBS analysts wrote, calculating that by one measure — debt extended to companies rated just a few notches above default — there are now more risky loans outstanding, at $794 billion, than risky bond debt at $750 billion. Analysts are sounding varying degrees of alarm on the asset class, with JPMorgan Chase & Co. noting that CLO issuance has proved more resilient than other types of credit in the face of market volatility. Despite a decline in secondary market prices, sales of U.S. CLOs have reached a record $127 billion so far this year, JPM said. That supply dynamic could work against the market, though, as investors grow wary about an economic slowdown alongside central bank policy normalization. “Recent outflows represent a small fraction of the inflows that occurred over the prior two years,” Michael Anderson and Philip Dobrinov at Citigroup wrote in a Dec. 13 note. “We expect further weakness ahead.” Even Japanese banks may slow their buying in cases such as a rise in hedging costs to extremes, or a jump in stresses on European lenders involved in the repacks that gets so severe it undermines those structures — with counterparty default being the worst-case scenario, UBS said. Japanese banks should in theory continue to anchor the market as long as government yields stay low and the Bank of Japan clings to its ultra-easy monetary policies, UBS said. But ownership from other types of funds could “amplify downside,” especially if investors start to worry about defaults in the face of any looming recession, the analysts wrote.

debt stocks banks investments loans clos


Outraged Democrats vow to challenge court ruling that undercuts Obamacare

Abstract: WASHINGTON - Outraged Democrats vowed to appeal a federal judge’s ruling that could undo the U.S. health care law known as Obamacare, saying on Saturday that they will use their new power in Congress to hold Republicans responsible and “expose their lies.” U.S. District Judge Reed O’Connor ruled late Friday that the health insurance reform, officially known as the Affordable Care Act, is unconstitutional. The White House said it expects the ruling to be appealed to the Supreme Court. For now, it said in a statement, “the law remains in place.” But Democrats, who have seen the law survive scores of legal and legislative attacks, vowed to fight back, saying the health coverage of millions of Americans is at stake. Senate Democratic leader Chuck Schumer tweeted that Republicans had pretended to care about those protected by Obamacare “while quietly trying to remove that support in the courts. Next year, we will force votes to expose their lies.” Democrats see the law as a signature achievement of former president Barack Obama, while Republicans dismiss it as governmental overreach. Donald Trump made abolishing and replacing the program a central pledge of his presidential campaign. In a separate Obamacare case in 2012, five of the nine Supreme Court justices upheld the law. All five remain on the court. Still, it remains unclear how they might rule in the new case. If the decision is upheld, it could significantly disrupt the U.S. health care system. In his ruling Friday, the Texas-based judge said that the full Obamacare program was unconstitutional because Congress, in its 2017 tax overhaul, eliminated a penalty for anyone lacking health insurance who failed to sign up for the program. The 2012 case was over whether such a penalty was legal — but now that it is gone, O’Connor said, the whole ACA should be stricken down because that provision is “the keystone” of the program. Trump expressed delight at the court’s ruling on a complaint brought by several Republican attorneys general and two Republican governors. “It’s a great ruling for our country. We’ll be able to get great health care,” Trump told reporters. “It was a big, big victory by a highly respected judge.” “As I predicted all along, Obamacare has been struck down as an UNCONSTITUTIONAL disaster!” he tweeted the previous day. Trump urged Republican Senate Majority Leader Mitch McConnell and the House of Representatives speaker-designate, Democrat Nancy Pelosi, to “pass a STRONG law that provides GREAT health care.” The court ruling came on the eve of the deadline for people to sign up for ACA coverage for 2019. Angry Democrats blamed Republicans for what they see as a debacle that could leave millions of Americans without health care. Republicans “know that they can’t repeal the ACA in Congress. So they’ve continued their crusade through the courts,” tweeted Democratic Sen. Elizabeth Warren, a consumer-protection activist. “The ACA is still the law of the land.” Polls consistently show strong public support for the ACA guarantee of coverage regardless of pre-existing health conditions — an issue Democrats used with great success in last month’s midterm elections as they won control of the House of Representatives. “#Republicans’ legal crusade against the #AffordableCareAct is a political stunt, but a dangerous one that puts health coverage and vital health protections for millions of Americans at risk,” Democratic Sen. Sheldon Whitehouse tweeted Saturday. Democratic Rep. Joe Kennedy said “they found one judge to agree, and now Medicaid expansion could be gone, pre-existing condition protections could be wiped out, prices skyrocket and millions lose insurance. And they call that success.” O’Connor’s ruling “exposes the monstrous endgame of Republicans’ all-out assault on people with pre-existing conditions and Americans’ access to affordable health care,” Pelosi said in a statement. While the court’s “absurd ruling will be immediately appealed, Republicans are fully responsible for this cruel decision,” she said. She vowed that when Democrats take control of the House next month, lawmakers “will move swiftly to formally intervene in the appeals process” to uphold Obamacare. Opposing the Republican lawsuit were 17 Democratic attorneys general led by Xavier Becerra of California. They argue that the tax law changes do not mean that the whole Affordable Care Act becomes unconstitutional. The Texas ruling “is an assault on 133 million Americans with pre-existing conditions” and on all who rely on Obamacare coverage, Becerra said in a statement. “Our fight to save Obamacare is far from over.”

courts
health
insurance
obamacare
national health care


'Tattoo OK' hot spring map released in Rugby World Cup host prefecture

Abstract: OITA - A hot spa resort area in Oita Prefecture, which is hosting next year’s Rugby World Cup, has created an online map showing onsen spots open to visitors with tattoos, typically stigmatized in Japan due to their association with yakuza. The Oita city of Beppu has prepared the online map on the website titled “100 Tattoo-allowed Hot Springs” based on the understanding that tattoos are part of traditional culture in such countries as New Zealand, whose national rugby team will play in Oita, near Beppu, during the Sept. 20-Nov. 2 tournament. “We don’t want to disappoint people who come all the way (to Japan)” from elsewhere given that operators of many public baths refuse guests with tattoos, a city official said, in explaining why the city created the map based on Google Maps. On the map, colors are used to differentiate the hot springs and what they will permit. Blue means the facility allows visitors with tattoos at anytime, while orange facilities ask such guests to use private baths. At the dark blue facilities, those who have tattoos can soak their hands and feet in onsen tubs. Beppu has more than 2,000 hot springs, according to the city’s website. But roughly 70 percent of inns and hotels in the city bar guests with tattoos from using their baths out of concern they could cause unease among other guests or even scare them. “It’s difficult to distinguish” between gangsters and other guests when both have tattoos, said a representative for an accommodation facility in the area. “There are a lot of foreign tourists who look forward to visiting onsen hot springs at inns and hotels,” said Tatsuya Kawamura, who works for B-biz Link, an affiliate organization of the city that created the digital map. Kawamura, 34, said he will encourage the operators of inns and hotels that currently ban tattoos in Beppu to take measures such as designating times when tattoos are OK so more visitors can enjoy onsen.


80% of cancer or heart patients in Japan worked from hospital: survey

Abstract: More than 80 percent of cancer or heart patients surveyed in Japan worked in some form while being hospitalized for treatment, health ministry data shows. Nearly 82 percent of 1,030 cancer or heart patients surveyed by the ministry said they worked from the hospital, including making job-related reports and preparations to return to their offices. The results of the ministry’s first large-scale survey of its kind, which has not been publicly disclosed, suggest it is difficult for many patients to concentrate on treatment. While the government promotes the need to balance work and treatment such as through telework, some experts have urged that a better environment be created. “I think the survey is correctly reflecting the reality,” said Naomi Sakurai, a director of the Cancer Survivors Recruiting Project, an organization supporting workers receiving cancer treatment. “Patients may think they’ve caused trouble to their workplaces and think they must work even in the hospital, but they shouldn’t forget that they should prioritize treatment,” Sakurai said. The ministry’s survey, covering people between ages 20 and 64 who were hospitalized in the past five years, was carried out between last December and March this year in 25 major hospitals. It showed 91.1 percent had used smartphones to do their work from locations including common spaces at hospitals or their rooms. Of about 860,000 people diagnosed with cancer in 2013, about 250,000, or a third of the total, were between 20 and 64 — the working population. A man in his 50s, who was hospitalized for a few weeks to treat cancer, had communicated with his colleagues almost every day via email after he became better post-surgery. “Many patients who suffer the disease are at the age when they are serving in responsible positions at work,” he said. “It’s nice that there is an environment that allows us to work.” But working while the patient is still undergoing treatment can be a challenge. “Hospitals should be a place where patients concentrate on their treatment. If there is an environment for patients to work there, people might push themselves too hard,” said a woman in her 40s who was admitted to a hospital for a few days for cancer and has been seeing a doctor every three months after she was discharged.


Fukushima launches multilingual emergency call service as number of foreign residents rebounds

Abstract: The prefectural police and fire departments in Fukushima have started multilingual services aimed at non-Japanese speakers making emergency calls amid a rising number of foreign visitors in the run-up to the Tokyo 2020 Olympics and Paralympics. On Dec. 1 the prefectural police began offering services in English, Chinese and Korean 24 hours a day. Calls made by foreign residents and visitors to the 110 emergency number — as well as to fixed phone lines at 251 police stations and police boxes — will be connected to a three-way call with an outside company offering interpretation services. The authorities believe they will be able respond and react faster to crimes and traffic accidents reported by foreign residents. Toshiyuki Kanno, who heads the prefectural police department’s criminal investigation division, and Junichi Konno, an executive at the Tohoku Tourism Promotion Organization, which introduced the interpretation company, signed a memorandum of understanding at the Fukushima Prefectural Police headquarters on Nov. 28. According to the police, there were 200 emergency calls made by foreign residents and visitors last year. Before Dec. 1, about 30 police officers fluent in foreign languages had been serving as interpreters while conducting their regular duties. When these officers were not available, interpreters from the private sector were sought, a sometimes time-consuming process. Only the Koriyama and Shirakawa fire departments in the prefecture currently offer a similar three-way phone system, with Koriyama offering the service in 15 languages and Shirakawa 16. Fire departments in six areas of Fukushima — Date, Adachi, Kitakata, Aizuwakamatsu and Minamiaizu — are expected to introduce the service in five to 10 languages by the end of March 2020. Fire departments in Sukagawa, Soma and Iwaki are also considering introducing the system. The number of foreign residents in the prefecture plunged after nuclear meltdowns at the Fukushima No. 1 power plant, which was triggered by the Great East Japan Earthquake and tsunami in March 2011. But the number hit 12,794 in 2017, recovering to the pre-disaster level. The number of foreign visitors staying overnight in the prefecture is also on the rise, topping 130,000 last year. With the increase, the number of foreign nationals who became crime victims has doubled, from 32 people in 2013 to 66 people last year, according to the police. The figures include cases that have been reported to and recognized by police. But one problem is that the service is available in a limited number of languages. In Fukushima, there are about 140 Vietnamese nationals working under a foreign trainee program, but the language is not included in the service introduced this month. “If it offers the service in Vietnamese, I would feel safer,” said a 21-year-old Vietnamese woman who works as a trainee at a metal processing factory in the city of Fukushima.

fukushima
tourism
expats
foreign visitors
police


U.S. fossil fuel export boom spurs growth and raises climate worries

Abstract: GEOJEDO, SOUTH KOREA - In South Korea’s largest shipyard, thousands of workers in yellow hard hats move ceaselessly between towering cranes lifting hulks of steel. They weld together the latest additions to the rapidly growing fleet of tankers carrying superchilled liquefied natural gas across the world’s oceans. The boom in fossil-fuel production in the United States has been matched by a rush on the other side of the Pacific to build the infrastructure needed to respond to the seemingly unquenchable thirst for energy among Asia’s top economies. When Congress lifted restrictions on shipping crude oil overseas in 2015, soon after the Obama administration opened the doors for international sales of natural gas, even the most boosterish of Texas oilmen wouldn’t have predicted the U.S. could become one of the world’s biggest fossil-fuel exporters so quickly. Backers of U.S. exports of liquefied natural gas (LNG) argue that the boom will produce environmental benefits because it will help China and other nations wean themselves from coal and other dirty fossil fuels. Environmentalists counter that the massive new supplies unleashed by the American advances in extracting natural gas from shale don’t just make coal-fired power plants less competitive. LNG also competes with such zero-carbon sources of electricity as nuclear, solar and wind — potentially delaying the full adoption of greener sources. Climate scientists and researchers say the world can’t afford such delays if humans hope to mitigate the worst-case consequences of our carbon emissions, including catastrophic sea-level rise, stronger storms and more wildfires. “Typically, infrastructure has multi-decadal life spans,” said Katharine Hayhoe, a climate scientist and director of the Climate Science Center at Texas Tech University. “So, if we build a natural-gas plant today, that will impact carbon emissions over decades to come. So those are the critical and crucial decisions that are being made today. Do we increase access to and use of fossil fuels, or do we make decisions that limit and eventually reduce access to fossil fuels?” While it is difficult to estimate how much America’s rise as major exporter of fossil fuels is contributing to a hotter climate, some of the economic benefits are plain to see in South Korea’s shipyards. At the sprawling Daewoo Shipbuilding and Marine Engineering facility on the island of Geoje, more than half of the 35 vessels scheduled for delivery in 2018 were LNG carriers. A similar number of vessels are lined up for completion next year. South Korea’s big three shipbuilders — Daewoo, Hyundai Heavy Industries and Samsung Heavy Industries — won orders for 53 new LNG carriers in 2018 at about $200 million each, soaking up the lion’s share of the 62 vessels ordered globally, according to numbers compiled by the London-based shipping group Clarkson Research. South Korea is expected to finish 2018 at the top spot in overall orders for new commercial ships, surpassing China for the first time in seven years. During a recent visit by The Associated Press, three of the LNG carriers were being assembled inside a massive dry dock. Another 13, including The British Contributor, had been floated out to nearby berths where workers were putting on finishing touches. U.S. LNG exports quadrupled in 2017, with this year on track to see similarly exponential growth. Nearly a fifth of all that gas goes to South Korea. The British Contributor is the third of six LNG carriers being built by Daewoo for the British energy giant BP, which will mainly use them to transport U.S. gas to Asia under a 20-year contract with the Freeport LNG facility south of Houston. Daewoo delivered four similar ships this year to the government-owned Korea Gas Corp., which has a 20-year deal to buy gas exported from Cheniere Energy’s Sabine Pass LNG terminal in Louisiana. Burning natural gas produces about half as much carbon dioxide as burning coal does. LNG’s increased adoption for generating electricity has been pitched by the U.S. and others as a way for nations to make progress toward meeting their emissions reductions goals under the 2015 Paris climate accord. Burning gas also creates less particulate pollution. In China, the communist government has declared a “Blue Sky Defense War” to reduce the choking smog in Beijing and two dozen surrounding cities with a program to convert hundreds of thousands of homes and industrial facilities from burning coal to gas. In February, Texas-based Cheniere signed a 25-year deal with the state-controlled China National Petroleum Corp. to export LNG from its export terminal in Corpus Christi. But the increased gas exports from the U.S. and other sources hasn’t really put much of dent in Chinese coal consumption, which has remained largely flat in 2018. Overall carbon emissions for China, the globe’s biggest emitter, saw a nearly 5 percent increase in 2018.

china
climate
u.s .
growth
jobs
south korea
lng
coal
environment
fossil fuels


At 20, euro remains a currency giant on fragile footing

Abstract: FRANKFURT, GERMANY - The euro will turn 20 on Tuesday, marking two tumultuous decades that saw the single currency survive a make-or-break crisis and become a fixture in financial markets and Europeans’ wallets. But it is destined to remain a fragile giant without closer eurozone integration, observers say. Born on Jan. 1, 1999, the euro initially existed only as a virtual currency used in accounting and financial transactions. It became a physical reality for Europeans three years later, and its coins and notes are now used by over 340 million people in 19 European Union countries. The currency wasn’t immediately loved, with many perceiving its arrival as an unwelcome price hike. In Germany, it was nicknamed the “teuro,” a pun on the German word for expensive. But the ease of traveling and doing business across borders in the euro area without having to worry about foreign-exchange fluctuations quickly won hearts and minds. Today the euro is more popular than ever despite the rise of euroskeptic, populist movements in a slew of countries. In a November survey for the European Central Bank, 74 percent of eurozone citizens said the euro had been good for the EU and 64 percent said it had been good for their nation. “The euro is anchored in the population, even anti-establishment parties have had to acknowledge that,” said Nicolas Veron, a fellow at the Bruegel think tank in Brussels and the Peterson Institute for International Economics in Washington. The euro is now the world’s No. 2 currency, though it remains some way off from challenging the dominance of the dollar. The euro reached a defining moment when the aftershocks of the 2008 financial crisis triggered a eurozone debt crisis that culminated in bailouts of several countries, pushing the currency union to a breaking point and severely testing the club’s unity. Experts say the turbulent time exposed the original flaws of the euro project, including the lack of fiscal solidarity through the pooling of debt, investments and therefore risks, or the lack of a lender of last resort. The turmoil also highlighted the economic disparity between member states and regions, particularly between the more fiscally prudent north and debt-laden south. ECB chief Mario Draghi was credited with saving the euro in 2012 when he said, “within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.” The Frankfurt institution, in charge of eurozone monetary policy, promised to buy up, if necessary, unlimited amounts of government bonds from debt-stricken countries. The concept, known as outright monetary transactions, succeeded in calming the waters but has never actually been used. To keep money flowing across the eurozone and ward off the threat of deflation, a crippling downward spiral of prices and economic activity, the ECB has still taken unprecedented action in recent years. It has set interest rates at historic lows, offered cheap loans to banks and bought more than €2.6 trillion ($3 trillion) in government and corporate bonds between 2015 and 2018. With inflation inching closer to the bank’s goal of just under 2.0 percent, the stimulus has been widely judged as a monetary policy success story. But observers say the 19 single currency nations have not done enough to carry out the political reforms necessary to better arm the region for future downturns and achieve greater economic convergence. The long-mooted banking union remains incomplete amid disagreement over the creation of a Europe-wide deposit insurance scheme. And French President Emmanuel Macron’s flagship proposal for a eurozone budget has been considerably watered down, with members in December agreeing only to explore a scaled-down version of the idea while staying vague on details. Also, his more ambitious plans for a eurozone finance minister or a European version of the International Monetary Fund have been pushed aside. The ECB meanwhile has gone “as far as it can” in shoring up the euro, said Gilles Moec, a former French central bank economist. But analyst Vernon took a more upbeat view, saying the euro had been strengthened by the clean-up of banks’ balance sheets, efforts to rein in public debt and the ECB’s extraordinary actions. The euro is now “a giant with feet of bricks rather than clay,” he said.


Britain voices 'grave' concerns over China's Huawei involvement in U.K. 5G

Abstract: LONDON - British Defense Secretary Gavin Williamson has warned of his “very deep concerns” about Chinese technology giant Huawei being involved in the use of 5G on Britain’s mobile network, The Times reported Thursday. “I have grave, very deep concerns about Huawei providing the 5G network in Britain. It’s something we’d have to look at very closely,” Williamson was quoted as saying by the newspaper. “We’ve got to look at what partners such as Australia and the U.S. are doing in order to ensure that they have the maximum security of that 5G network,” he said. “We’ve got to recognize the fact, as has been recently exposed, that the Chinese state does sometimes act in a malign way,” he said. Williamson’s comments echo similar warnings from MI6 spy agency chief Alex Younger, who earlier this year said Britain would have to make “some decisions” about the involvement of firms such as Huawei. Britain’s government earlier this year announced the West Midlands region in central England would become the first large-scale testing area for 5G. Fifth-generation mobile networks, or 5G, will have faster transmission speeds and could enable a far wider use of self-driving vehicles and internet-powered household objects. It is expected to be rolled out in Asia and the United States from 2020. Huawei has defended its global ambitions and network in the face of Western fears that the Chinese telecom giant could serve as a Trojan horse for Beijing’s security apparatus. The company has been under fire this year with Washington leading efforts to blacklist Huawei internationally and securing the arrest of the company’s chief financial officer in Canada. Countries like the United States, Australia, New Zealand and Britain have pulled back from using its products while concerns grow in Japan, France, Germany and even the Czech Republic over security issues.

china
u.s .
britain
espionage
huawei
japan
5g
gavin williamson