| U.S.-Russia cooperation on Ukraine highlights U.N. dysfunction
Good evening. Three years have passed since the beginning of the war in Ukraine. Despite recent developments that are still unfolding, it remains unclear where the war will ultimately lead. The United Nations, which is supposed to be the leading body for conflict resolution, marked the three-year anniversary by adopting two resolutions. Surprisingly (or perhaps not), the United States sided with Russia in both votes. Earlier this year, I noted that 2025 is the 80th anniversary of the end of World War II. But it is also the 80th anniversary of the founding of the New York-based international organization. The cooperation between the U.S. and Russia -- both permanent members of the Security Council -- on Ukraine symbolizes just how dysfunctional the U.N. has become. |
 | In 2005, Japan attempted to take the lead in U.N. reform, focusing on a proposal to expand the number of permanent members of the Security Council. Hopes were high at the time that significant progress was coming, but in the end they failed to even reach a final vote. On the occasion of the organization's 80th anniversary, some people within the Japanese government are calling for another attempt at reform. But in 2005, Japan covered 20% of the U.N.'s regular budget; today, that share has plunged to only about 7%. As a result, many doubt whether Japan can exert any real influence. |
My suggested reads | 1. Thais' love of gold has moved into cyberspace. Millions of people now use apps to trade the precious metal on a daily basis and no longer feel the need to see, let alone handle, their purchase. The result is that some of the companies with the highest revenue are now gold companies -- helped by a 30-month bull run in the price of the commodity. |
2. Investors in China's stock market are focusing on buzzwords like "consumption downgrade" and "value for money" as the country grapples with a deflationary environment. They are betting on sectors that offer affordable entertainment for Chinese consumers -- think movies, figurines, fried chicken and coffee -- while pulling back from stocks linked to luxury goods like alcohol, jewelry and real estate. |
3. Years of nurturing homegrown chipmakers is bearing fruit for China -- and unsettling the global tech industry. With a rush of new capacity set to come online, makers of older chips and niche substrates are bracing for a painful price war. |
4. Japan's Prime Minister Shigeru Ishiba is set to clear a significant hurdle as his minority government secures backing for a record budget for the next fiscal year. But a bigger challenge lies ahead: With a key election looming in summer, can he convince voters that he can help them cope with inflation as the rising cost of living becomes their biggest concern? |
5. While batik may have little or no history in many parts of Indonesia, the adoption and adaptation of the textile art form by different ethnic groups across the archipelago offers valuable insight into modern Indonesian nationalism, Joseph Rachman writes in the latest Tea Leaves column. |
Through the lens |  | This week's top photo pick: Japanese chain Kura Sushi will serve dishes from around the world at World Expo 2025 in Osaka, which opens on April 13. More than 160 countries and regions are expected to have pavilions at the event showcasing their technology, business ideas and culture. (Photo by Hiromasa Matsuura) Check out more of our photo coverage here. |
Wishing you a wonderful weekend! Shin Nakayama |
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