Is it Right: More Money Means More Health Problems in Asia?

Flavored juice drinks sit on a shelf in a grocery store in Manila. (Bloomberg)

According to The Wall Street Journal, MANILA — Economies in Southeast Asia are not the only things growing in the region. Waistlines are too – and that has doctors and health experts worried about the strains a clutch of new health problems could put on many countries still in the process of developing.

Rapid economic growth has created new and expanding middles classes in places like Indonesia, the Philippines and Vietnam. But new affluence is also driving up the rate of “life-style” diseases, including hypertension, cancer, diabetes and chronic respiratory illness, say doctors.

Together, those diseases account for 80% of the deaths in Asia, but health experts say it need not be that way – most could be addressed by people simply changing the way they eat and live.

“We must have behavior change,” Shin Young-soo, the World Health Organization’s regional director for the Western Pacific, said during a recent health summit in Manila.

As regional incomes improve, people have more money to spend on fast food and processed snacks. In recent years, demand for meat and dairy has also risen dramatically in many of Southeast Asia’s emerging economies.

But changes in diets combined with lack of exercise has made Asians more prone to diabetes than their counterparts in the West, said Dr. Shin, one of nearly 200 health and development experts attending a week-long gathering here aimed at discussing non-communicable diseases and finding way to combat them.

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Indonesia Home Prices Rise as Demand Bucks Higher Rates

Source: Bloomberg

Source: Bloomberg

According to Bloomberg, Indonesia’s most aggressive monetary tightening since 2005 is set to slow economic growth without denting soaring property demand in the world’s fourth-most populous nation.

A young population, elevated inflation and property-price gains that outpace interest rates are spurring real-estate sales from Jakarta to Manado. Home prices in the third quarter probably rose 14.6 percent from a year earlier, according to a Bank Indonesia survey, while the Indonesian Real Estate Association predicts housing sales will climb more than 50 percent this year.

“Indonesia has a huge population, that’s a potential market for us,” said Setyo Maharso, chairman of the Indonesian real estate association, which predicts 2013 property sales will rise to 400,000 units from 260,000 last year. “For our buyers, as long as they have the ability to pay monthly installments, sales will keep increasing till the year end.”

With foreigners restricted from owning property in SoutheastAsia’s biggest economy, Indonesia is confronting a surge in local demand rather than the capital inflows that spurred record home prices in neighboring Singapore and Hong Kong. After the central bank imposed stricter loan-to-value ratios for mortgages, persistent price gains may prompt the government to raise some real-estate taxes, PT Bank Danamon Indonesia said.

“By giving a luxury tax, especially for high-end properties, it would help to curb home-price increases,” said Anton Gunawan, chief economist at Bank Danamon who was a candidate for the No. 2 job at the central bank this year. “Returns from property remain high as there’s an expectation that home prices are still rising.”

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The Rule of Law and its Role in Achieving the Chinese Dream: To Be Discussed at China Leaders Forum 2013 on October 1st

The Rule of Law and its Role in Achieving the Chinese Dream: To Be Discussed at China Leaders Forum 2013 on October 1st

The Role of the New Generation of China Amidst China’s Expanding Global Influence

 

China has made an extraordinary journey along the road back to greatness. Hundreds of millions have been lifted out of poverty, hundreds of millions more have joined the new middle class. It is on the verge of reclaiming what it sees as its rightful position in the world. China’s global influence is expanding and within a decade its economy is expected to overtake America’s. The new head of the country, Xi Jinping, has evoked that rise promoting the “Chinese dream” evoking its American equivalent. Mr Xi’s priority will be to keep the economy growing and that means opening up China even more. What will be the role of the Chinese new generation? Will nationalism interfere with the rhetoric of the resurgent nation? Will corruption and official excess be curbed? Will the constitution become more powerful than the party?

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