Asia This Day:the New Australian Government-plus Syria

The first new government in six years is taking power in Australia as long time opposition leader Tony Abbott takes the reins of the prime ministership from Kevin Rudd.Mr.Abbott said the strong US relationship has been key in Australia's foreign policy,and would remain that way.Domestically,he wants to be an infrastructure prime minister,with a bulldozer on every street and cranes in the sky.*
Alex Malley,CEO of CPA Australia,said we're reasonably comfortable with the incoming government.We lost an opportunity to balance our economy more and restructuring when mining was at its peak.We've been in Asia for 60 years,but Australia is only in its infancy in understanding the Asian Century.We need government to work with small and medium business.We need to stay relevant at a cost,efficiency and cultural level.*
The awarding of the 2020 Summer Olympics to Tokyo is expected to add a trillion dollars to the Japanese economy over seven years.*
China's August exports were up 7.2%,beating the 5.5% estimate.*
Following Sebastian Vettel's victory at the Italian Grand Prix Sunday,Formula One racing moves back to Asia for the Singapore Grand Prix,a nighttime race,in two weeks' time.*
President Barack Obama faces a hectic week of lobbying for military action against Syria as Congress returns today from its August recess.Military action is not immanent,since France now says it will not participate until the UN weapons inspectors present their report,and Congress is still largely undecided about the president's plan.*
Both the full House and Senate will receive classified briefings from the president's national security team early this week,and the president will address the nation Tuesday at 9pm Eastern.After that,complex legislative maneuvering will determine just when the votes on the president's plan will take place.In sum,it is uncertain at this point when,or even if,there will be military action,or who,apart from France,will participate in it,and in what way,although the White House remains fully committed to this course.

Asia This Day:China,Japan,Australia

There's no doubt that we have to be relevant across the world,said Alex Malley,CEO of CPA Australia.In Australia at the moment,the politics are dramatic,but they're not good for the country.The whole world rests on integration with China.One of the sleeping giants is in agriculture and professional services for China.*Chinese industrial profits slipped from a 12.3% increase in May to an 11.1% increase in June.The causes include a slowdown in sales and rising materials costs.*Japanese consumer prices rose at their highest pace year over year since November 2008,a sign of inflation and economic recovery after two decades of deflation.*Asian markets will be responding this week to more Chinese and Japanese economic data,as well as a meeting of India's central bank.*China's move to a more consumer-based economy from rapid infrastructure development has repercussions for mining and mining services concerns.*China and the EU avoided a trade war Saturday by reaching a deal on imports of Chinese solar panels.*The MSCI Asia Pacific index was down 0.71% in early Monday trading.*CPA Australia has more than 144,000 members in 127 countries.It provides education,training,tech support and advocacy for its members,representing the accounting profession to all levels of government,regulators,academe,industry and the general public.