Japan, China and South Korea are seeking to expand their influence in the Arctic as melting ice caused by global warming offers potentially lucrative access to resources and shipping shortcuts in the region.
Philippine President Benigno Aquino said China may harm relations with its trading partners if it fails to respect a United Nations-backed arbitration ruling over its claims in disputed waters with oil and gas reserves.
Australia is committing to buying 100 F-35 Joint Strike Fighters, the Pentagon’s most expensive weapons system, as the nation released its long-term defense strategy that seeks to balance competing interests of the U.S. and China in the Asia-Pacific.
Volkswagen AG, Daimler AG and Bayerische Motoren Werke AG posted record 2012 sales fueled by demand in China. This year, that growth is at risk as the government in Beijing steps up scrutiny of the automakers and media outlets question their quality.
Ford Motor Co. is on a tear in China, with sales up 54 percent this year on the strength of its Focus small car. Long an also-ran in the world’s largest auto market, Ford is now outselling Toyota Motor Corp. there.
China plans to open the Xisha Islands in the South China Sea to cruise-ship tourists ahead of the May Day holiday, Xinhua News Agency said, citing Tan Li, executive vice governor of the southernmost province of Hainan.