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Relations in the dangerous region of North-east Asia could be stabilized by multilateral energy programmes like those operated in Europe and by the Association of South-east Asian Nations. Insecurity and conflict can result from problems created by competition for energy sources and the shipping lanes needed to supply the energy. North-east Asia could consider adopting the European Energy Charter's central energy policy goals, such as environmental conservation and energy saving, or establish a system by which long-term and medium-term consumption and supply is developed rationally.

To date, with the possible exception of Mongolia, liberalization efforts have generally been more successful in the transitional economies of Asia (TEAs) than in Eastern Europe and the former Soviet Union. This paper argues that both initial conditions and policies were important in explaining the difference in economic performance. The TEAs (except Mongolia) placed microeconomic reforms ahead of macroeconomic ones. Similarly, there were differences in the approaches taken in areas such as enterprise reform, price deregulation and financial sector reform. The TEAs need, however, to supplement their reform program with fiscal, monetary and external sector reforms on an urgent basis. Without such actions, the successes acheived so far could be at stake. Some general lessons for transitional economies are also derived.

The race by nations to establish their supremacy by acquiring oil reserves around the world and the role of East Asian countries is presented.

Energy issues involving oil and other resources are eliciting lot of concern. The problem is not merely that crude oil has broken through the barrier of $60 a barrel and continues to set new record highs, provoking concern about economic growth around the world in the future.

U.S. dominance in nuclear reactor technology is withering, and new leadership is appearing in East Asia. The United States has 110 operable nuclear power reactors, which generate about 20% of [...]