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In today's bulletin: China's Xi vows no decoupling in call to reject protectionism; How to behave as a monarch?; 'Five Eyes' alliance demands China end crackdown on Hong Kong legislators; DBS has the firepower to right LVB ship; China insists virus can be spread through food imports; others disagree
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CHINA'S XI VOWS NO DECOUPLING IN CALL TO REJECT PROTECTIONISM
Chinese President Xi Jinping has pledged that China won't engage in decoupling of economies in an address to the Asia-Pacific Economic Cooperation (Apec) summit just days after the region inaugurated the world's largest free trade agreement.
Mr Xi's speech came as the world awaits clues on how US president-elect Joe Biden will approach Beijing, two years after the Chinese President and US Vice-President Mike Pence traded barbs in back-to-back Apec meetings.
The White House declined to say whether US President Donald Trump would address the summit. National Security Adviser Robert O'Brien represented the United States at a separate gathering of South-east Asian nations last week.
Prime Minister Lee Hsien Loong was slated to speak later on Thursday (Nov 19), while his counterparts from Japan and New Zealand were expected to address the virtual gathering on Friday.
All eyes are on whether a Leaders' Declaration will be reached this year, a non-binding statement that covers topics such as urbanisation, sustainable tourism and natural disasters.
Go deeper:
China's quest for technological independence not a closed door pursuit, says official
Market ties between China, US set to deepen regardless of who wins White House
Trump raises idea of decoupling US economy from China
HOW TO BEHAVE AS A MONARCH? ASK BHUTAN'S THUNDER DRAGON KINGS
Street protests in Thailand and unprecedented public criticism of King Maha Vajiralongkorn have focused attention on an institution whose days, along with old-style feudalism, are fading, if not gone altogether, writes Straits Times Associate Editor Ravi Velloor.
But lessons may be drawn from the small Buddhist nation of Bhutan, where the monarchs have held themselves and connected with the people in a way that demonstrates how institutions can be preserved if their incumbents know how to move with the times.
Reform is never easy, especially for monarchies, but it certainly helps if it is initiated by rulers who can count on the respect of their subjects. To be loved, you need to be rooted and show it, and Bhutanese kings know this by instinct.
Here's more:
Thai Parliament rejects monarchy reform as protesters spray paint at police HQ
Thai King writes messages of love for nation amid protests
'FIVE EYES' ALLIANCE DEMANDS CHINA END CRACKDOWN ON HONG KONG LEGISLATORS
The Five Eyes intelligence-sharing group has called on Beijing to reverse course after the imposition of new rules to disqualify elected legislators in Hong Kong.
The foreign ministers of Australia, Britain, Canada, New Zealand and the United States warned that China's action was a clear breach of its international obligations under the UN-registered Sino-British Joint Declaration.
But China's Ministry of Foreign Affairs in Hong Kong hit back, warning that any attempt by foreign states to threaten or pressure Beijing to make concessions was "doomed to fail".
Read more:
Ex-Hong Kong lawmakers arrested in latest blow to opposition
Chinese officials working on reforms related to HK's Basic Law, judiciary
DBS HAS THE FIREPOWER TO RIGHT LVB SHIP
DBS has the financial firepower to set India's embattled Lakshmi Vilas Bank (LVB) in order, if given the opportunity, writes Straits Times Associate Editor Ven Sreenivasan.
The Reserve Bank of India's call to amalgamate LVB with the Singapore bank would effectively and significantly increase DBS' footprint in the southern region of the world's second-most populous nation.
Still, some hard questions have to be asked about the group's accretive strategy, notes Mr Sreenivasan, with DBS - South-east Asia's biggest and best capitalised bank - required to take on LVB's huge liabilities and possibly do a management shakedown and rationalisation in India, something that has never been easy to do in corporate India even during the best of times.
Read more online:
India set to hand troubled Lakshmi Vilas Bank to Singapore's DBS
DBS and Lakshmi Vilas Bank: This time, India is getting a bank rescue right
DBS faces potential culture clash if it scoops up distressed Indian lender
CHINA INSISTS VIRUS CAN BE SPREAD THROUGH FOOD IMPORTS; OTHERS DISAGREE
There has been increasing evidence that Sars-CoV-2, the virus which causes Covid-19, can survive on frozen and refrigerated food, given the right conditions, writes Straits Times China Correspondent Elizabeth Law. The finding, however, contradicts guidance from international health authorities, with the World Health Organisation declaring in April that it was "highly unlikely" that people can contract Covid-19 from food or food packaging.
IN OTHER NEWS...
JAPAN ON 'MAXIMUM ALERT' AFTER RECORD COVID-19 CASES: Japan is on "maximum alert" after logging more than 2,000 coronavirus infections nationwide on Wednesday (Nov 18), with nearly 500 in the capital Tokyo alone. Prime Minister Yoshihide Suga has called on the Japanese people to take measures such as wearing masks and has asked expert advisers to meet on Thursday and Friday to examine the growing number of infections before the government takes any further steps.
JOKOWI'S SON'S RUN FOR MAYOR SPARKS TALK OF NEWEST INDONESIAN DYNASTY: The son of Indonesian President Joko Widodo, Mr Gibran Rakabuming Raka, is expected to cruise to victory in an election next month for the post his father once held as mayor of Surakarta. The political aspirations of Mr Gibran have raised suspicions that the President is forming a new dynasty to elbow its way in among Indonesia's old elites.
SOUTH KOREA TO CONVERT HOTELS INTO APARTMENTS TO ADDRESS HOME SHORTAGES: Hotels and offices are being converted into rental units in South Korea in the latest attempt to address the nationwide outcry over soaring rents. The move comes after a series of measures by President Moon Jae-in's administration to solve the housing crisis since 2017 failed to cool soaring home prices.
That's it for today. Hope today's bulletin was interesting for you. Thanks for reading and we'll be back with you tomorrow.
Arvind
