Dubious Deterrence in the East China Sea
Synopsis
During his recent visit to Tokyo, President Obama declared that the US-Japan alliance covers the contested Senkaku/Diaoyu islands. Unfortunately, the president's deterrent strategy towards Beijing will place the US in a nightmarish predicament should either Japan or China initiate hostilities against the other.
Banking on Myanmar: A Strategy for Financial Sector Reform
Once the envy of Asia, Myanmar’s financial sector is now a shadow of its former self. After decades of misguided junta-led strategies, state ownership, and policy shocks, confidence in cash as a safe asset and banks as trustworthy institutions has evaporated. Finance is a binding constraint on Myanmar’s future development. The government needs a reform strategy that supports the financial sector’s rapid development while ensuring its stability, efficiency, and accessibility.