The Peninsula Tokyo (whose parent company is based in Hong Kong) has been successful, Thompson explains, by incorporating deep Japanese hospitality into its model.

WSJ: Made Better in Japan

Located on the Izu Peninsula two hours south of Tokyo, the exquisitely detailed Asaba has been run by the same family for 336 years.

FORBES: Ryokans Beyond Calm

China advocates a negotiated solution on the Korean peninsula through "six-party" talks involving Beijing, Seoul, Pyongyang, Tokyo, Moscow and Washington.

WSJ: U.S.-China Nuclear Silence Leaves a Void