Gov. Beverly Perdue and North Carolina Commerce Secretary Keith Crisco will head to Asia this coming week. The governor says the trip to Japan and China is necessary to help create jobs and stimulate investment. But can the trip live up to the hype? John Locke Foundation president John Hood addresses that question, discusses North Carolina’s use of tax breaks and credits to entice business, and explains what he believes are the necessary components to successful business recruitment. Then we turn to a discussion of national politics and public policy. Despite holding power in both the White House and Congress, Democrats have had a tough time pushing through key pieces of their agenda this year – from health-care reform to cap-and-trade global warming policies to card-check rules for union organization. Even if conservatives end up winning these battles this year, John Fund of the Wall Street Journal predicts that liberals will look for new ways to secure their policy goals. Fund recently warned the Civitas Conservative Leadership Conference that liberals who lose a political debate will work to change the rules for future debates. Meantime, the recent economic slump has focused attention on the actions of the Federal Reserve. A recent rally in Raleigh highlighted legislation that would lead to an audit of the Fed’s books. Rally organizer David Williams explains why the Fed needs greater scrutiny. That’s followed by a look at regulatory policy and process. Governments like to develop new regulations, but a process called regulatory review is designed to help block new rules that cause more harm than good. Economist Allen Basala, a long-time employee of the federal Environmental Proection Agency, explains how regulatory review helps stifle rules that generate more costs than benefits. And finally, Carolina Journal publisher Jon Ham looks at the media coverage of President Obama during his first nine months in office. Coverage has been non-stop, but has it been fair and has it exhibited the healthy skepticism that once was the hallmark of journalism? Ham also explains the impact of the so-called new media and looks at mainstream journalism’s response to major controversies such as the background and statements of former green jobs czar Vann Jones and allegations against ACORN.