Commentary

Key Trends in China’s Data Policies

The CAC, which was founded in 2011 as the country’s internet regulator and enforcer, is not a typical administrative agency in the executive branch of the government. Instead, the CAC is a party-state entity, closely intertwined with the Chinese Communist Party (CCP), and thus holds more power than most ministries under the leadership of Premier Li Qiang and the State Council. This arrangement adds to the challenges posed to companies, both domestic and foreign, operating in China.

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Instant Insight: U.S., Korean, and Japanese Leaders Step Toward a Shared Future at Camp David

At their trilateral summit at Camp David on August 18, U.S. President Joe Biden, South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida announced significant new steps toward a lasting structure for trilateral security cooperation. While their pledges fell short of a formal security agreement, the leaders committed to initiatives that demonstrate their shared geopolitical and economic security concerns and to enhance trilateral cooperation mechanisms, especially by strengthening the fragile Japan-South Korea leg of the triangle.

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South Korean Economy Facing Headwinds

The South Korean economy is noticeably sputtering, especially in comparison to stronger post-COVID recoveries elsewhere in Asia. Korea’s exports are down 15 percent year-on-year. Meanwhile, interest rate hikes by the Bank of Korea (BOK) to stem inflation have been largely successful but have hit the country’s USD 107 billion housing market and construction industry especially hard. Housing prices fell in April for the eleventh straight month and are down about ten percent from their peak last summer. Residential real estate is the largest class of assets for most Korean households, so a drop in values can have a strong and negative wealth effect on household spending.

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Instant Insight: Modi’s State Visit Sets New Paradigm for U.S.-India Strategic Partnership

Indian Prime Minister Narendra Modi’s sixth visit to the White House – and maiden state visit – outlined an ambitious vision for the future of U.S.-India ties, which he said were entering a period of “unprecedented trust” and were a “force for global good.” Echoing a similar message, U.S. President Joe Biden called the U.S. relationship with India the “defining partnership of the 21st century.”

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TAG Paper: Observations on Drug Pricing and Innovation in Japan

Full Paper (English): TAG Paper: Observations on Drug Pricing and Innovation in Japan ENG Full Paper (Japanese): TAG Paper: Observations on Drug Pricing and Innovation in Japan JPN Key Findings As the Government of Japan (GOJ) seeks to re-invigorate Japan’s pharmaceutical industry as a sector for innovation and growth, it can make impactful changes to specific pricing

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