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January 23rd, 2020

Unglued

Is Singapore's 'perfect' model showing signs of strain?

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The Big Story

Is Singapore's 'perfect' economy coming apart?

Once hailed as a model of progress, poverty and nativist resentment are on the rise

Supported by free education and subsidized housing, Singapore's citizens have become among the wealthiest in the world. (Illustration by Daniel Garcia)
Kentaro Okuda, left, is set to take the reins of Nomura from CEO Koji Nagai on April 1. (Nikkei montage/Source photos from AP)
Business Spotlight

Nomura's new CEO races old US foes for growth in China

Overpowered by the likes of Goldman Sachs, Japanese group 'focuses'

Infant formula on a store shelf in Sydney. Many retailers in Australia still limit how much customers can buy.
Agriculture

China's hunger for farms and food alarms Australia and New Zealand

Mengniu Dairy's baby formula deal reopens debate over security

The Pentagon is worried because chipmaker TSMC produces components for Chinese telecom giant Huawei as well as U.S. military suppliers. (Nikkei montage/source photo by Reuters) 
Technology

Exclusive: Washington pressures TSMC to make chips in US

Pentagon fears Chinese interference in Taiwan's semiconductor giant

Tokopedia President Patrick Cao speaks to the Nikkei Asian Review in Singapore on Jan. 16. (Photo by Ken Kobayashi) 
Startups

SoftBank-backed Tokopedia 'most likely' to list in US in 3 years

A successful IPO for the Indonesian e-retailer would help embattled Masayoshi Son

Gojek Co-CEO Andre Soelistyo speaks to the Nikkei Asian Review in Singapore on Jan. 16. (Photo by Ken Kobayashi)
Interview

WeWork shock 'positive' for startup community, says Gojek co-CEO

Growth-at-all-costs strategies replaced with plans for sustainability and profitability

Thai Prime Minister Prayuth Chan-ocha, center, applauds after signing a contract Oct. 24 for a high-speed rail line connecting three Bangkok-area airports. (Photo by Eri Ishii)
Transportation

Thailand puts high-speed rail project on track with land pledge

CP Group consortium promised all plots needed for construction within four years

Lotte founder Shin Kyuk-ho in 1990: He built an empire that spanned candy, hotels, department stores and petrochemicals. 
Obituaries

Lotte founder built empire in 2 lands, but wished to conquer steel

Shin Kyuk-ho was last of South Korea's original chaebol generation

Wipro's net profit was 24.6 billion rupees in the last quarter, compared with 25.1 billion rupees a year ago. (Photo by Ken Kobayashi)
Technology

India's Wipro quarterly profit falls, weak revenue forecast

Bengaluru-based IT major struggles to snap out of low-growth mode

Four months after launching its first co-living space called "lyf" in Singapore, CapitaLand's Ascott Group, the developer's serviced residence arm, is planning another seven such properties. (Photo by Nozomu Ogawa)
Nikkei Markets

CapitaLand targets millennials, deepens co-living foray

Flexible leases, shared activities underpin draw of such housing

CNOOC set an output target of 520 million to 530 million BOE for this year, around 555 million BOE for 2021 and 590 million BOE for 2022.
Energy

CNOOC boosts output targets as China seeks energy security

Chinese offshore energy producer to pay more attention to wind energy, CEO says

A protester vandalizes an MTR station during a protest in Hong Kong in November. Some anti-government demonstrators have stopped riding on the city's railway after it was accused by protesters of closing down stations and aiding police during pro-democracy marches.
Hong Kong protests

Hong Kong's economy splits into pro- and anti-government camps

Protesters shun businesses that support police and establishment

China's government is more interested in protecting companies it has direct control over than in boosting profitability at their listed subsidiaries. (Nikkei Montage/Source photo by Reuters)
Economy

How China's state-owned enterprises milk listed subsidiaries

Party, military and government interests override those of the shareholder

For workers from Asia, the promise of better jobs outweighs potential risks in the Middle East. (Nikkei Montage/Source photos by AP and Reuters) 
Iran tensions

For Asian migrants in the Gulf, better pay trumps US-Iran fears

Indians and Filipinos among those sending billions of dollars home each year

Prime Minister Shinzo Abe and his cabinet ministers pose for a group photo at Abe's official residence in Tokyo, Japan, September 11, 2019. (Nikkei Montage)
Inside Japanese politics

With legacy on the line, Abe faces crucial choices in September

Risk all for constitution revision or focus on picking successor?

The debt-addicted U.S. federal government has a co-dependent -- global investors in a near zero-interest-rate reality.
Datawatch

Yield-hungry Asian investors bankroll US spending binge

Appetite for Treasurys remains firm as yields slip to bottom elsewhere

Demonstrators carry placards and shout slogans during a protest in New Delhi on Jan. 9 against attacks on students at Jawaharlal Nehru University: The demonstrations are a wildcard in upcoming elections.
Politics

Regional party silent on citizenship law ahead of Delhi poll

Modi's BJP eyes comeback after 20-year absence but faces uphill battle

Two months after meeting with Bangladeshi Prime Minister Sheikh Hasina, left, the government of Indian Prime Minister Narendra Modi introduced a new citizenship law that threatens a mass exodus of Muslims to Bangladesh.
International relations

Bangladesh fears Rohingya-like crisis over India citizenship law

Tensions mount as many Indian Muslims fear detention or deportation

The vast majority of ASEAN pundits polled say the region is becoming the focus of a major power struggle between the U.S. and China.
International relations

7 of 10 ASEAN members favor China over US: survey

73% feel the region is becoming a staging ground for a major power struggle

The apparent gap between currency share and GDP share is not a new phenomenon.
Opinion

China's growth does not guarantee yuan’s outsize influence in markets

Fragmented world means currency will struggle to become truly liquid

The challenge for Tsai's coming term is to convince voters that it can manage the China problem. (Photo by Akira Kodaka)
Opinion

Tsai's massive victory in Taiwan confounds and embarrasses China

Its pressure and disinformation campaign hindered opposition Kuomintang

Technical staff inject chickens with the bird flu vaccine in Shangsi, China in April 2013: we must continue to strengthen collaboration between the animal and human health sectors.
Opinion

Coronavirus outbreak shows Asia needs to step up infection preparation

Region is safer after epidemic lessons but new diseases always arising

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe wave after speaking to Japanese and U.S. troops in Yokosuka, Japan, in May 2019. 
The Nikkei View

60 years later, Japan-US security pact remains as vital as ever

Allies need to chart strategy for future that benefits both sides equally

The contents of a bag left behind by a protester inside Hong Kong Polytechnic University. (Photo by Laurel Chor)
Life

In pictures: Abandoned belongings from Hong Kong university siege

Personal items left behind tell stories of fear, survival and resistance

Chinese badminton superstar Lin Dan, pictured here at the Rio Games in 2016, has two Olympic golds and five world championship titles to his name.
Life

Why Asia loves the low-key but rising sport of badminton

Japan is tipped to challenge other Asian countries for top Olympic medals

A scene from Ho Chi Minh City's popular "book street." (Photo by Nguyen Thi Hoang Yen)
Tea Leaves

In Vietnam, economic success underpins literary boom

Interest in new and traditional writing soars despite rampant consumerism