Asia's groundbreaking Nobel Prize wins Shin M_Nakayama. Nikkei Asia October 18, 2024

 Asia's groundbreaking Nobel Prize wins 

Shin M_Nakayama. Nikkei Asia 

October 18, 2024

Good afternoon. This year's Nobel Prize announcements marked a historic moment for Asia, with three significant wins: South Korean author Han Kang for literature, a Japanese atomic bomb survivors' group for peace, and a Turkish-born academic for economics. The results were accompanied by ample commentary and a range of reactions, some expressing surprise.

I read an interesting article about Han's landmark victory that highlighted the crucial role a translator plays in conveying the depth and nuance of an author's work to a global audience. It took nearly eight years for the English version of "The Vegetarian" to be published after the original, underscoring the importance of the English language as a lingua franca for achieving international recognition.

As for the Peace Prize, some reports have noted that this year's award indicates that the Nobel Committee has moved away from more controversial choices, such as the United Nations Relief and Works Agency for Palestine Refugees and the International Court of Justice, both of which many predicted would be strong contenders. While that may be true, as the saying goes, all's well that ends well.

We have a lot of great stories for you this week. Here are my top picks.

My suggested reads

1. This weekend marks a pivotal moment for Indonesia, the world's third-largest democracy, as President-elect Prabowo Subianto will be sworn in on Sunday following a landslide election victory earlier this year. Having served as defense minister under President Joko "Jokowi" Widodo, the extent to which Prabowo will continue his predecessor's legacy will be closely watched. Much attention will also be focused on his cabinet choices for the new government, particularly whether the finance minister -- who has had disagreements with Prabowo in the past -- will keep her post.

2. Many Thai political parties are dominated by wealthy families, but the rise of Paetongtarn Shinawatra to the premiership has highlighted the fraught relationship between money and power in the country. Her family's fortune, created by her father and former Prime Minister Thaksin Shinawatra, has been both their vehicle to political success and a source of their travails.

3. Back in 2014, then-Chinese Premier Li Keqiang launched the slogan "massive entrepreneurship and innovation by all." A decade later, Li's vision of a vibrant startup culture has faded. Economic headwinds, geopolitical tensions and a shift in government priorities have cooled China's entrepreneurial fever. Venture capital fundraising is down, and instead of nurturing the next unicorn, central and local governments are focusing on manufacturing and job creation.

4. Campaigning is in full swing for Japan's lower house election and new Prime Minister Shigeru Ishiba may be facing a tough verdict: A joint survey by Nikkei and the Yomiuri Shimbun says his ruling Liberal Democratic Party may not keep its majority. Ishiba vowed in an interview with Nikkei Asia to raise the share of renewable energy sources in the country's overall power supply as his government prepares an economic stimulus plan.

5. Bamboo remains one of the most attractive eco-friendly construction materials in parts of developing Asia where it is abundant and cheap. As Bali undergoes a tourism-led construction boom, the Indonesian resort destination is emerging as a regional hub for the bamboo-building trend, with multiple developments including intriguing buildings and homes using the material.

Through the lens

This week's top photo pick: Giant panda cubs born this year meet the public at Chengdu Research Base of Giant Panda Breeding on Oct. 12 in Chengdu, China. (Photo by Getty Images)

Check out more of our photo coverage here.

Wishing you a wonderful weekend!

Shin Nakayama

Follow me on X (formerly Twitter) @ShinNakayama_NA

Han Kang's Nobel win hailed in South Korea as 'historic' milestone

President Yoon praises literary works that 'transformed' country's historical wounds

Japanese atomic bomb survivors' group wins 2024 Nobel Peace Prize

Committee cites Nihon Hidankyo for work against nuclear weapons

Indonesia's new leadership: Prabowo Subianto's 5 priorities

President-elect's goals cover welfare, housing and being a 'good neighbor'

Old missteps haunt Thailand's billionaire Shinawatras

Family's travails highlight fraught relationship between money and power

China's 'entrepreneurship for everyone' era ends as state sets agenda

Beijing backs strategic tech like drones and chips, while general venture funds dry up