Category Archives: BUSINESS

Can India’s media shield the election from fake news?

Author: Usha M Rodrigues, Deakin University

Some of India’s biggest selling newspapers have taken out full-page advertisements to interrogate the role of social media in providing readers with credible information during the 2019 election period. The advertisements proclaim ‘if we don’t have the facts, we don’t print the news’.

Staff members of the fact checking website, “Alt News”, check photos and videos posted on social media platforms inside their office in Ahmedabad, India, 1 March 2019 (Photo: Reuters/ Amit Dave).

” data-medium-file=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-400×265.jpg” data-large-file=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-600×397.jpg” title=’Staff members of the fact checking website, “Alt News”, check photos and videos posted on social media platforms inside their office in Ahmedabad, India, 1 March 2019 (Photo: Reuters/ Amit Dave).’ src=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-400×265.jpg” alt=’Staff members of the fact checking website, “Alt News”, check photos and videos posted on social media platforms inside their office in Ahmedabad, India, 1 March 2019 (Photo: Reuters/ Amit Dave).’ width=”400″ height=”265″ srcset=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-400×265.jpg 400w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-150×99.jpg 150w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-768×508.jpg 768w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-600×397.jpg 600w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-300×198.jpg 300w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-100×66.jpg 100w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2019-04-02T041055Z_1475944804_RC1DA6446400_RTRMADP_3_INDIA-ELECTION-SOCIALMEDIA-FAKENEWS-500×331.jpg 500w” sizes=”(max-width: 400px) 100vw, 400px”>

The advertisements feature a pointed editorial directed against the sharing of ‘fake news’ and ‘misinformation’ on social media platforms during the 2019 general and state elections which commenced on 11 April. The advertisements have been sponsored by newspapers such as The Hindu Group, Hindustan Times, The Times of India and Dainik Bhaskar in both Hindi and English. Mainstream media campaigns are at the same time urging readers to remain loyal to the papers despite them being slower at reporting news. They attribute the delay to standard news processes for verifying information.

Indian newspapers remain the envy of the world due to increasing circulation and growing revenue in the past two decades. The media industry is expected to grow in 2019 on the back of increased advertising spend during the 2019 elections and the …continue reading

    

Kyoto is losing its modern architecture

Recent demolitions. [LEFT] Doshisha Friendly Peace House; [CENTER] Wakabayashi Store; [RIGHT] Heirakuji Bookstore.

Kyoto’s modern architecture (buildings built from the Meiji period through to pre-war) is starting to disappear as developers grow increasingly keen on grabbing new sites for development.

There are more than a few cases of national heritage listed properties being delisted to make way for new construction.

A survey carried out by Kyoto City between 2005 and 2006 found 1,749 examples of surviving modern architecture, exceeding the number found in cities such as Yokohama and Kobe. Kyoto’s old buildings have survived thanks to the city escaping calamities such as WWII air raids and natural disasters that caused great damage to other cities. The city also didn’t go through a massive post-war redevelopment boom.

Registered tangible cultural properties topped 425 listings as of November 2018, but there have been several losses over the previous year. In 2017, the city saw its first heritage de-listing with the owner of the 90-year old Heirakuji Bookstore de-listing the building in order to demolish it. It has since been replaced with an apartment building. This was followed by the decision of the Wakabayashi buddhist altar store to demolish their 91-year old traditional two-storey merchant shop alongside Shichi-jo Street.

The latest in the list of demolitions is Doshisha University’s decision to tear down their heritage-listed Friend Peace House on the eastern side of the Kyoto Imperial Palace. The western-style wood-clad building was built in 1877 as the residence of missionary doctor John C. Perry.

The city council’s cultural property division has reported several other recent inquiries about demolition and is expecting the pace of loss to quicken in the coming years.

Under the heritage listing system, the owner of a registered tangible cultural property has few limitations compared to a designated important cultural property or …continue reading

    

Is poor governance behind the Philippine water crisis?

Author: Agnes C Rola, University of the Philippines Los Baños

The reeling water problem currently facing cities in the Philippines is an outcome of at least three factors, mostly ignored in policy fora. These are poor planning, fragmented and multiple institutions governing the water sector, and a lack of coherence in water property rights and responsibilities.

The Philippines’ water resources are abundant given the volume of actual renewable surface and groundwater resources. Despite this seeming abundance, both the surface and groundwater resources of the Philippines are under threat. The 2010 land use and land cover map of the country reflects the critical condition of the country’s major river basins, which endangers its surface water potential.

Water drops from a public artesian well in Muntinlupa City, south of Manila, 17 April 2007. Elevated areas in some parts of Manila dependent on deep wells for drinking water may run dry by 2025 (Photo: Reuters/Cheryl Ravelo).

” data-medium-file=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-400×282.jpg” data-large-file=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-600×424.jpg” title=”Water drops from a public artesian well in Muntinlupa City, south of Manila, 17 April 2007. Elevated areas in some parts of Manila dependent on deep wells for drinking water may run dry by 2025 (Photo: Reuters/Cheryl Ravelo).” src=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-400×282.jpg” alt=”Water drops from a public artesian well in Muntinlupa City, south of Manila, 17 April 2007. Elevated areas in some parts of Manila dependent on deep wells for drinking water may run dry by 2025 (Photo: Reuters/Cheryl Ravelo).” width=”400″ height=”282″ srcset=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-400×282.jpg 400w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-150×106.jpg 150w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-768×542.jpg 768w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-600×424.jpg 600w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-297×210.jpg 297w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-100×71.jpg 100w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2007-04-17T120000Z_2138670719_GM1DVBGQDJAA_RTRMADP_3_PHILIPPINES-500×353.jpg 500w” sizes=”(max-width: 400px) 100vw, 400px”>

What’s more, the supply of groundwater (based on 2004 data from the National Statistical Coordination Board) has been declining over time. This is likely due to unregulated groundwater extraction in many parts of the country. The 2003 Philippine Environmental Monitor published by the World Bank reported the absence of water rights …continue reading

    

Financial warning lights are flashing red in Asia

Author: Editorial Board, ANU

The April edition of the IMF’s Global Financial Stability Report makes uncomfortable reading for all of us in Asia. The report ranks regions and sectors according to how vulnerable they are to financial shocks, using a traffic-light system to highlight problematic areas. The number of lights flashing red in Asia suggests now is a good time for Asian policymakers to get their houses in order.

Bank Indonesia Governor Perry Warjiyo arrives at a media briefing at Bank Indonesia headquarters in Jakarta, Indonesia, 15 November 2018 (Photo:Reuters/Willy Kurniawan).

” data-medium-file=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-400×284.jpg” data-large-file=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-600×426.jpg” title=”Bank Indonesia Governor Perry Warjiyo arrives at a media briefing at Bank Indonesia headquarters in Jakarta, Indonesia, 15 November 2018 (Photo: Reuters/Willy Kurniawan).” src=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-400×284.jpg” alt=”Bank Indonesia Governor Perry Warjiyo arrives at a media briefing at Bank Indonesia headquarters in Jakarta, Indonesia, 15 November 2018 (Photo:Reuters/Willy Kurniawan).” width=”400″ height=”284″ srcset=”https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-400×284.jpg 400w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-150×106.jpg 150w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-768×545.jpg 768w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-600×426.jpg 600w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-296×210.jpg 296w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-100×71.jpg 100w, https://www.eastasiaforum.org/wp-content/uploads/2019/04/2018-11-15T083840Z_64938463_RC1E19CB2610_RTRMADP_3_INDONESIA-ECONOMY-RATES-500×355.jpg 500w” sizes=”(max-width: 400px) 100vw, 400px”>

There are particular concerns around China. Large, opaque and heavily-indebted off-balance sheet investment vehicles are highlighted as a source of particular vulnerability. Maturity and liquidity mismatches are rife, the balance sheets of small and medium-sized banks are weak and the risk of further policy easing to boost growth without deeper reforms are a cause for concern.

These risks aren’t limited to China. Many banks, firms, households and governments in Asia borrowed heavily when interest rates were low and are now feeling pressure as rates increase. Those which borrowed heavily in US dollars are feeling pressure as the US dollar appreciates. Those which borrowed through short-term and portfolio lending to finance longer-term investment are now feeling pressure as financial conditions tighten.

The trade war between the United States and China will, hopefully, come to an end in the not-too-distant future. But the full cost …continue reading

    

New apartment supply across greater Tokyo drops for 3rd month

According to the Real Estate Economic Institute, a total of 3,337 brand new apartments were released for sale across greater Tokyo in March, up 43.3% from the previous month but down 7.7% from last year. This is the third month in a row to see a year-on-year decline in supply.

The contract rate for the month was 72.2%, up 6.7 points from the previous month but down 2.5 points from last year. It is above the 70% line said to indicate healthy market conditions.

The average new apartment price was 65,520,000 Yen, up 5.3% from last year. The average price per square meter was 947,000 Yen, up 4.4% from last year.

Unsold inventory was 8,267 units as at the end of March, down 305 units from the previous month but up 1,769 units from March 2018.

Tokyo’s 23 wards

1,548 new apartments were released for sale in Tokyo’s 23 wards, up 2.3% from last year. The contract rate was 73.3%. 241 apartments priced over 100 million Yen were on offer, with 210 sold during the first month of sales. The contract rate in the 100 million Yen + market was 87.1%.

The average apartment price was 77,440,000 Yen, up 9.2% from last year. The average price per square meter was 1,181,000 Yen, up 7.1% from last year.

Source: The Real Estate Economic Institute, April 17, 2019.

…continue reading