The possibility of mutually beneficial financial links are interesting regardless of differing political ideologies. That was evident recently when executives from Hong Kong’s Industrial & Commercial Bank of China—China’s largest state-owned bank—met in Taipei with officials from Taiwan’s state-owned First Commercial Bank to discuss, well–the possibilities… Meanwhile, Hong Kong is reportedly looking to the freshly minted World Trade Organization member China for some economic support while changing its outlook on bilateral free-trade agreements in Asia after being a staunch supporter of multilateral accords for years. A recent trade dispute with Japan over farm products should give China some indication of whether being a WTO member is a Good Thing…Stock woes and a staggering economy have prompted Japan to loosen up its monetary policy and put off a planned reform of its public financial institutions. Investors consider debt problems in the banking segment that have driven lenders’ stock prices below 100 yen per share a sign of trouble...