State funeral for Abe, US-Pacific island nations summit, World Bank update

Welcome to your week in Asia.

The state funeral of former Japanese Prime Minister Shinzo Abe will be held in Tokyo on Tuesday despite public opposition. The event is expected to cost the Japanese government more than $11 million.

US President Biden is expected to host the first US-Pacific island nations summit in Washington, DC, later this week, as China also jostles for influence in the region. According to the White House, key issues for the gathering include climate change, economic recovery, maritime security and promoting a free and open Indo-Pacific.

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MONDAY

AfDB Annual Meeting

The Asian Development Bank is launching the second leg of its annual meeting in a largely virtual format. Governors and official delegations will attend limited in-person events at the multilateral lender’s headquarters in Manila. The five-day rally comes as the region’s post-pandemic recovery is threatened by rising inflation and geopolitical tensions amid Russia’s war in Ukraine. The events will also address persistent issues of poverty and inequality in a region that is also struggling with the effects of climate change.

TUESDAY

State funeral of Shinzo Abe

The state funeral of former Japanese leader Shinzo Abe, who was assassinated in July, is taking place in Tokyo. The ceremony will start at 2 p.m., at the Nippon Budokan, a prestigious event site in a park near the imperial palace, with around 4,300 people, including foreign leaders, expected.

Abe will be the second post-war prime minister to be honored with a state funeral. But the plan has met growing public opposition as Prime Minister Fumio Kishida decided on it without parliamentary discussion and the ruling party’s ties to a problematic religious group are being questioned.

Go further: Pulled Strings: Dissecting the Problem of the Unification Church of Japan

World Bank Economic Update

The World Bank publishes its semi-annual economic update. The previous edition in April warned of three clouds over the Asia-Pacific region that would lower growth expectations for each country. Now that the bank’s warnings about the commodity shock, financial crunch and global slowdown have materialized, the October update will assess how well Asia-Pacific economies have managed to mitigate risk, to support households and businesses and to exploit new export and technology opportunities. .

WEDNESDAY

Biden welcomes Pacific Island leaders

The first-ever United States-Pacific island nations summit begins. President Biden will try to bolster America’s credibility in a region it has long ignored, to China’s diplomatic benefit. Taiwanese tensions and the climate should be on the agenda.

Monetary Policy Announcement: Thailand

THURSDAY

50th anniversary of the normalization of relations between China and Japan

Thursday marks the 50th anniversary of the normalization of diplomatic relations between Japan and China. A series of events are planned for this historic milestone, such as a symposium with a special appearance by figure skating superstar Yuzuru Hanyu. But growing tensions over Taiwan and strict COVID measures that have limited travel between the two countries will likely cast a shadow over any festive mood.

Vietnamese GDP

FRIDAY

Alibaba AGM

Alibaba Group is holding a virtual annual general meeting of shareholders. The meeting will elect six directors, five of whom are independent director nominees, after which the company will formally obtain a majority independent board. If the nominated independent nominees are elected by shareholders, Alibaba will have an 11-member board including three women. Co-founder and vice-chairman Joe Tsai will step down as chair of the company’s nominating and corporate governance committee ahead of the meeting. Tsai will also leave the company’s compensation committee.

Prayuth Term Limit Decision

Thailand’s constitutional court is deciding whether Prayuth Chan-ocha can serve as prime minister until the end of his current term in March 2023. The question is when the eight-year countdown began for Prayuth, who turned appointed prime minister in 2014 after leading a military coup. Prayuth’s side argues that the count restarted in 2017, when the military-drafted constitution came into effect. Earlier this month, the court suspended Prayuth, who is still defense minister, pending its decision.

Monetary Policy Announcement: India