Integrity Legal

Archive for the ‘Malaysia Business’ Category

30th August 2013

In a recent article from The Telegraph author Ambrose Evans-Pritchard analyzed how Federal Reserve policies impact emerging markets. It is a very interesting article for anyone (especially expatriates living abroad) interested in understanding how Fed policy reverberates in markets outside of the United States. Of particular interest to expats living overseas was the analysis of the disproportionate impact Fed policy has on foreign nationals residing in other countries. Although the aforementioned article would seem primarily targeted  at a British audience, as an American expatriate living in the Kingdom of Thailand, I found this information compelling. Evans-Pritchard cited an assertion from Mirza Baig of BNP Paribas noting that foreign nationals bear significant currency risks in some of the nations in Southeast Asia. In Thailand, it appears that foreigners bear currency risks of 81%, while those expatriates living in Malaysia and India bear 90% and 74% risk, respectively. I have  dealt with the vicissitudes of currency fluctuation many times during my tenure in Thailand as the exchange rate between the Thai Baht and the US Dollar was around 39-1 when I first arrived in the Kingdom. Since then, I have seen the exchange rate fall (or rise depending upon your perspective) to around 27-1 and re-stabilize around 30-1. As of the time of this writing, the Baht-Dollar exchange rate stands at approximately 31-1. However, many are speculating that the Baht will lose value against the dollar in the coming months. This would likely be due to the perception that the Fed may begin to implement a kind of belt tightening after years of promoting liquidity.

Unlike times past, the actions of the Fed have increasingly serious implications in emerging markets. As the article noted, in the past when the Federal Reserve Chairman Paul Volcker tightened up his belt, there were substantial ramifications in South America and elsewhere. The negative aspects of those policies on South American economies was containable. However, this was at a time when China was virtually isolated, and the Soviet Union did not really factor into the any analysis of the economic interactions between countries in the “Free World”. Meanwhile in the 1990′s Federal Reserve policies could negatively impact global economics more than before that period, such negative implications were still containable since there was a “power ratio” of around 1:2 between the United States economy and the emerging markets. This is no longer the case as the relationship has basically equalized. Should Fed policies have a substantial negative impact on the emerging markets, then the problem may not be contained within those markets and the economic problems could easily (and quickly, if there is anything to be learned from the financial crashes of the past decade) spill over into Western Europe and America.

In American politics, one cannot read articles and information regarding the United States’ stance on Southeast Asia without seeing the words “pivot”. The Obama administration has consistently noted that the U.S. wishes to see American foreign policy “pivot” to a more solid relationship with the nations in the Asia-Pacific region and those comprising the Association of Southeast Asian Nations (ASEAN). In fact the P-word has been cited in connection to the visit to Southeast Asia by the American Secretary of Defense. However, in light of recent events in the economic sphere it would appear that ASEAN countries and Thailand specifically may be “pivoting” themselves. For example, at the recent meeting between the Foreign Ministers of ASEAN and the Foreign Minister of China it was noted that Sino-ASEAN trade increased five times compared to ten years ago. As of 2012, trade between China and ASEAN stood at approximately $400 billion. Clearly, China is becoming an increasingly important trading partner and in light of the fact that ASEAN and Thailand may not wish to be at the mercy of the Fed’s whims, further solidifying this relationship may prove to be an effective method for ASEAN nations to mitigate negative side effects caused by economic policies of both China and the United States.

In a recent interview, the Prime Minister of Thailand, Yingluck Shinawatra, articulated a desire to see further investment in Thailand from China and supported such an investment due to Thailand’s position as the “strategic center” of ASEAN. “Thailand will be spending about 66 billion U.S. dollars in infrastructure. Especially, we will need the technology that China has, like high speed train,” Mrs. Yingluck stated. “And we know that the high-speed railway connecting Thailand and China will run from Thailand through Laos to China. So it will be an important part of Chinese investment in Thailand”. As the deadline for ASEAN integration comes ever closer it seems logical to assume that Thailand, the ASEAN jurisdictions, and China will all see a closer economic relationship begin to blossom. How this relationship will impact both diplomatic and trade relations with the United States remains to be seen, but American economic policy makers should be aware that the era of America being able to set economic and monetary policy with little thought to the implications in emerging Asian markets has passed.

 

more Comments: 04

22nd September 2012

It recently came to this blogger’s attention that an official representative from the Republic of Korea appears to have been appointed Ambassador to the Association of Southeast Asian Nations (ASEAN). In order to provide further information on this topic it is necessary to quote directly from the official website of The Korea Times, KoreaTimes.co.kr:

Baek Seong-taek, a career diplomat who had served in various capacities at overseas missions including Japan, Vietnam and Malaysia, was appointed this week as Seoul’s first envoy dedicated to ASEAN. With Baek’s appointment, Korea became the fourth non-ASEAN nation to name an ambassador to the regional bloc and will launch a permanent mission for the ASEAN in Jakarta next month to redouble engagement on a wide range of issues such as trade, regional security, disaster management and human rights…Baek said he expects ASEAN to play a “balancing role” in Asia, where a power shift is under way amid the rise of China and the decline of Japanese influence, with the U.S. making a so-called “pivot” to the region…

The administration of this web log strongly encourages readers to click upon the hyperlinks noted above to read this article in detail.

Although Korea is not the first nation to send an envoy to ASEAN, these developments show an increasing interest in ASEAN’s affairs from the international community. As ASEAN moves closer to being a fully integrated economic community it stands to reason that other nations will desire more interaction with this Southeast Asian organization.

On a related note, it would appear that the Asia-Pacific region is becoming an increasingly popular location among the world’s wealthy, for further insight this blogger must quote from the official website of Bloomberg, Bloomberg.com:

More people in Asia became millionaires last year as the region’s economic growth and entrepreneurship helped generate affluence, according to a report by RBC Wealth Management and Capgemini SA. The number of individuals in Asia-Pacific with investable assets of $1 million to $5 million climbed 1.9 percent to 3.08 million in 2011, according to the report released in Singapore and Hong Kong today. Their total wealth increased 1.5 percent…The World Wealth Report showed in June that the number of individuals in Asia-Pacific with at least $1 million in investable assets jumped 1.6 percent last year to 3.37 million, helped by increases in China, Japan, Thailand, Malaysia and Indonesia. So-called high net-worth individuals in North America dropped 1.1 percent to 3.35 million.

Again, readers are asked to click upon the hyperlinks above to read this article in full.

Based upon the information contained in the article above it would appear that the Asia-Pacific region is now home to the largest number of millionaires in the world. However, much of these individuals’ capital would appear to be located in a few key jurisdictions in Asia most notably Hong Kong and Singapore. One could speculate that future growth may not only increase affluence in places such as Singapore and Hong Kong, but more broadly over the ASEAN and Asia-Pacific regions, respectively.

more Comments: 04

17th September 2012

It recently came to this blogger’s attention that the American Secretary of Defense recently commented upon the apparent tensions arising between Tokyo and Beijing over island claims increasingly disputed between China and Japan. In order to provide further insight into these developments it is necessary to quote directly from the official website of The Japan Times, JapanTimes.co.jp:

Visiting U.S. Defense Secretary Leon Panetta on Monday urged Japan and China to peacefully resolve the intensifying territorial dispute over the Senkaku Islands, expressing concern the diplomatic row could result in a military clash over uninhabited islets in the East China Sea. ”It is extremely important that diplomatic means on both sides be used” to avoid further escalation, Panetta said… [H]e also repeated that the United States will “stand by treaty obligation” with Tokyo, which includes defending Japanese soil, based on the Japan-U.S. security treaty…The Japan-U.S. security treaty obliges the U.S. to defend Japan if an area under Japanese administration is attacked by another country. But observers say if a remote island is attacked, it would likely be up to Japan to respond first, not the U.S. military…

Readers are encouraged to visit the hyperlinks noted above to read this story in detail.

It might seem unlikely that this situation could evolve into major confrontation, there are signs that tensions between Japan and China could get worse if some sort of solution is not found. This information comes as anti-Japanese protests in China spread and claims to certain Southeast Asian islands by members of the Association of Southeast Asian Nations (ASEAN) are voiced. Hopefully, this situation will be resolved peacefully and to the benefit of all concerned.

Meanwhile, it would appear that the Malaysian and Singaporean stock exchanges are set to link up in an effort to provide more trading opportunities and capabilities on each of those respective platforms. To shed further light upon these developments it is necessary to quote from the official website of Live Trading News, LiveTradingNews.com:

The Malaysian and Singaporean stock exchanges are seeking to attract individual investors and boost volumes by offering cross-border trading, the 1st step in creating a Southeast Asian platform. Singapore Exchange Ltd. (SGX) and Bursa Malaysia Bhd. (BURSA) start offering the services Tuesday…

Readers are again asked to click upon the hyperlinks noted above to read this article in detail.

These developments could result in future interest in Southeast Asian Securities from investors abroad. Concurrently, it would appear that Thailand’s stock exchange is prepared to provide more integrated services for ASEAN investors, to quote further from the aforementioned article:

[T]he Stock Exchange of Thailand is set to join the link-up between the Association of Southeast Asian Nations members next month…The trading platform is part of a push by Asean Exchanges to boost regional capital markets and lure more investors to exchanges whose companies had a combined market value of $1.98-T at the end of March, according to the group’s website…

Although the results of these efforts remain to be seen, there is good reason to speculate that these developments could lead to further investment in Southeast Asia both by domestic investors as well as investors from outside the region.

more Comments: 04

2nd September 2012

It is interesting to note that apparently Mainland China and Taiwan have signed an agreement streamlining currency and banking transactions occurring between these two jurisdictions, to provide further insight it is necessary to quote directly from the Channel News Asia website, ChannelNewsAsia.com:

TAIPEI: Taiwan and China on Friday signed a deal paving the way for Taiwanese banks to take Chinese yuan deposits and make yuan loans, in the latest agreement to boost trade between the former arch-rivals. The memorandum of understanding outlines the new arrangement, known as direct yuan clearing, which is expected to come into force in 60 days, Taiwan’s central bank said…The deal will also allow Taiwanese companies to issue yuan bonds and sell yuan-denominated investment products on the island, Taiwan’s central bank said…

Readers are encouraged to click the hyperlinks noted above to read this article in detail.

It will be interesting to see whether the promulgation of the provisions of the Memorandum of Understanding noted above will effect the the economies of these two jurisdictions as it could be argued that these changes will foster greater synergy between these two markets which are both very strong in their own right.  This information is noted at the same time that there is speculation that the countries comprising the Association of Southeast Asian Nations (ASEAN) may be the destination for future growth and investment. To quote from the website of the Vancouver Sun, VancouverSun.com

A growing number of U.S. companies plan to shift some operations from China to Southeast Asia in the next two years…a survey by the American Chamber of Commerce in Singapore showed…According to AmCham Singapore, 92 percent of the executives surveyed said they were positive about investment opportunities in the Association of Southeast Asian Nations, or ASEAN – a regional grouping that comprises Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, Myanmar, Cambodia, Laos and Brunei. ”ASEAN is not only a vital U.S. trade and investment partner, it is a bright spot in the global economy,” said AmCham Vice President Tami Overby.

Please click upon the hyperlinks noted above to read this article in detail.

Clearly it remains to be seen whether resources, financial or otherwise, will be shifted away from China in favor of ASEAN. In fact, it could be argued that there may simply be growing investment and positive economic activity in the region as a whole which would benefit both regions. In any case, notwithstanding a rather stagnant global economic environment, China and the Nations comprising ASEAN would seem clearly poised for growth in the future.

 

more Comments: 04

13th January 2012

It recently came to this blogger’s attention that new attention is apparently being directed toward the positive aspects of backpacking in Southeast Asia. In order to shed further light upon these developments it is necessary to quote directly from an article posted on the official website of the Sydney Morning Herald:

Every now and then on the Laos hippy trail you spy a traveller wearing a T-shirt that reads “Been There Don Det”. Most people think it is yet another pun based on the ‘hilarities’ of the language barrier (see “Same Same But Different”) but actually it’s an inside joke for those who had ventured far enough south to visit a small island hidden in the mist of the Mekong River. South of the capital Vientiane, the Mekong breaks its banks creating an anarchic sprawl of islands called Si Phan Don, which translates to “4000 Islands”.

The administration of the web log recommends that these readers click on the relevant hyperlinks noted above to read this truly insightful article in further detail.

On a related note, it also came to this blogger’s attention that the Association of Southeast Asian Nations (ASEAN) appear to have signed a memorandum of understanding with India in an effort to boost tourism in the Southern Asia region. For further elucidation it is necessary to quote directly from The Jakarta Post via the Asia News Network:

Members of the Association of Southeast Asian Nations (Asean) and India have agreed to promote cooperation in tourism to help boost travel between the subcontinent and the Southeast Asian region. A memorandum of understanding (MoU) on tourism cooperation was signed by Aseantourism ministers and their counterpart during Asean Tourism Forum in Manado, North Sulawesi, on Thursday…

Again, the administration of this blog recommends that readers click on the hyperlinks noted above to gain full insight into this developing story.

Tourism seems to have been a traditional source of revenue in the for both the Kingdom of Thailand and the Greater ASEAN region. Hopefully the signing of the memorandum noted above will provide economic benefits for both the ASEAN region as well as the Indian Sub-Continent. That stated, with the increasing velocity of economic expansion in Asia as a whole there is strong evidence to suggest that tourism may prove to be simply a gateway to further economic integration between all of the global economies. How these trends will play out in the future remains to be seen. However, the benefits of tourism could arguably be a true “win-win” situation for both the tourist as well as the host nation. ASEAN itself is a prime example of how tourism and increasing levels of tourists can lead to more robust levels of economic activity as a whole.

For further information regarding legal issues in Southeast Asia please see: Legal.

For more general insights regarding visa issues in Thailand please see: Thai Visa.

more Comments: 04

5th October 2011

It recently came to this blogger’s attention that exporters in Australia are expecting a robust economy in Asia in the future. In order to provide further explanation it is necessary to quote directly from the official website of the Herald Sun, HeraldSun.com.au:

AUSTRALIAN meat exporters are hoping Asia’s dynamic economies will deliver boom times, with the industry forecasting gains of up to 20 per cent in markets such as Thailand once the ASEAN Economic Community (AEC) is underway from 2015. Amir Gun Mohammad, a regional representative for Meat and Livestock Australia (MLA), says the expected boost has followed the rapid development of the local food services industry, a growing middle class and expanded trade opportunities. ”Hopefully it will be very, very good for us. I think Thailand has been seen to be a major player in the ASEAN region. They export a lot to other parts of ASEAN,” Amir Gun told AAP. Amir Gun said once the ASEAN free trade system was in place Australian beef and livestock importers would face an easier path to regional markets…

This blogger encourages readers to click upon the aforementioned hyperlinks to learn further details from this interesting article.

There are many who feel that the economies which comprise ASEAN (Association of Southeast Asian Nations: Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam) are likely to continue to show signs of economic integration along with the concomitant economic benefits that come therewith. Hopefully such possible circumstances will accrue to the benefit of all concerned.

The economies in the ASEAN jurisdictions are not the only foreseeable beneficiaries of possible future economic luster. In fact, China appears to be viewed by many as a possible economic powerhouse in coming decades. This is not to say that this will accrue to the disadvantage of other economies since global economics is not always a “zero sum” game. The growth of a sustainable middle class in any of the Asian jurisdictions is likely to create tangible economic rewards on a local, regional, and global scale. To provide further insight into the encouragement of Chinese small business it is necessary to quote directly from the official website of China Daily, ChinaDaily.com.cn:

Chinese Premier Wen Jiabao has urged stronger financial support for China’s smallbusinesses and better regulation of private lending activities to prevent risks of capital shortage from spreading.

This blogger strongly encourages readers to click upon the hyperlinks noted above to read this interesting and concise article in detail.

Clearly tangible benefits can be garnered by both the Chinese and ASEAN economies through bi-lateral relations, but when viewing this in conjunction with the fact that Australia and the US maintain a strong economic relationship with ASEAN and her component jurisdictions there is at least an inference which can be made to support the conclusion that there is likely to be dynamic economics at play in Asia’s future. Meanwhile, this economic dynamism can have ancillary benefits for the global economy.

How future economic events will transpire remains to be seen, but there are strong indicators that all of the economies mentioned above have bright futures indeed.

For information regarding legal services in Southeast Asia please see: Legal.

more Comments: 04

5th August 2011

It recently came to this blogger’s attention that Economic Ministers from the jurisdictions which comprise the Association of Southeast Asian Nations (ASEAN) are set to meet in Indonesia over the upcoming weeks. Of especial importance, in this blogger’s opinion, is the fact that said meeting is set to include representatives from the United States of America and Russia. In order to shed further light upon these developments it is necessary to quote directly from the official website of The Nation, NationMultimedia.com:

Free-trade partners of Asean, in addition to the United States and Russia, will join Asean economic ministers for a meeting in Manado, Indonesia, next week with the aim of tightening economic integration. Indonesia will host the Asean Economic Ministers (AEM) meeting from August 9-13. Yanyong Phuangrach, permanent secretary at the Commerce Ministry, who will lead the Thai delegation to the meeting, said the main agenda was to forge closer cooperation among Asean member states and trading partners, mainly with FTA partners and the two economic giants – the US and Russia…

Readers are strongly encouraged to click upon the relevant hyperlinks above to read this important article in detail.

In recent months there have been many positive developments in the ASEAN region as discussions pertaining to a possible unified ASEAN visa have been broached. Meanwhile, discussions pertaining to the South China Sea appear to have lessened some of the tensions between ASEAN members nations and China. However, as of yet, a final framework for dealing with the South China Sea has yet to be developed. As the ASEAN region continues to show further economic potential it stands to reason that geo-politically dominant economies will show increasing interest in the Southeast Asian region.

In news specifically related to the Thai Real Estate and Property markets, it recently came to this blogger’s attention that Singaporean and international real estate developers have noted their optimism regarding the Thai property market. In order to provide further elucidation regarding these developments this blogger is compelled to quote directly from the PropertyShowrooms.com website:

A Singapore property development company has decided to invest in a series of condominium projects in Thailand over the coming year. Speaking to Property Report, business development manager at Dalvey Developments Noel Goh described the Thai real estate sector as “a very attractive market with high growth potential”. “Moreover, property prices remain low when compared to neighbouring countries,” Mr Goh added…According to one Asian real estate expert, buyers from Hong Kong are increasingly being drawn to high-end properties in the Thai capital. Executive director for investment and project marketing at CB Richard Ellis Rebecca Shum told the Bangkok Post that the city is a “top-two destination for lifestyle” from the point of view of Hong Kong investors. She added that a rise in optimism about Thailand’s political and economic conditions is helping boost the luxury property market in the nation.

The administration of this web log encourages readers to click on the relevant hyperlinks above to read further from this article.

For many, the purchase of property in Thailand can be a cumbersome and somewhat confusing endeavor as Thai law on the subject has been described as rather complex and, in some cases, byzantine. This is especially true in cases involving foreigners wishing to purchase land in Thailand since there is virtually a de facto prohibition on foreign nationals purchasing Thai land. That stated, such a prohibition does not exist in the context of a Thai lease, Thai usufruct, or Thai condominium. In fact, pursuant to the Thailand Condominium Act, foreign nationals in Thailand may be permitted to purchase a Thai Condo so long as that proposed real estate holding comports with the relevant provisions of the Act. For this reason, and many more, some opt to retain the assistance of an attorney in Thailand to assist in conducting due diligence and conveyancing matters pertaining to Thai property.

For information related to legal services in the Kingdom of Thailand please see: Legal.

more Comments: 04

1st August 2011

It recently came to this blogger’s attention that the current Attorney General of the sovereign State of New York is challenging the Constitutionality of the so-called “Defense of Marriage Act” (DOMA) on the grounds that it violates the 5th and 10th Amendments of the United States Constitution. In order to provide insight into these developments it is necessary to quote directly from an article posted to the website Patch.com:

Attorney General Eric Schneiderman has filed court papers charging that the federal Defense of Marriage Act (DOMA), which defines marriage as being between a man and a woman, is unconstitutional on a number of fronts, including an “unprecedented intrusion” on the right of states to regulate marriage. DOMA, passed in 1996, has been under heightened scrutiny since the Obama administration announced in February that it would no longer uphold the part of the law that bars the federal government from recognizing legal same-sex marriages…In a brief filed in the case Windsor v United States of America, Schneiderman argued that DOMA violates the Fifth Amendment by failing to provide equal rights to all Americans and the Tenth Amendment by impeding the right of states to regulate marriage.

Readers are asked to click upon the hyperlinks noted above to read this article in full.

Frequent readers may recall that Representative Jerrold Nadler has rather recently introduced legislation colloquially referred to as the Respect for Marriage Act (RFMA) which attempts to rectify the current legal discrimination faced by those who have entered into a same sex marriage. The RFMA would provide federal “certainty” to validly licensed State sanctioned same sex marriages which would presumably allow federal protection for marital benefits regardless of the geographic location of a same sex married couple. Meanwhile, those same sex bi-national couples who are currently separated from their loved ones due to the discrimination which currently prohibits same sex couples (even those validly married in a State jurisdiction) from receiving visa benefits for their foreign spouse in the same manner as those who seek a K-1 visa, CR-1 visa, or an IR-1 visa. Representative Nadler has also introduced legislation to specifically rectify discrimination in an immigration context in the form of the Uniting American Families Act (UAFA). It has long been this blogger’s opinion that inter-jurisdictional issues pertaining to same sex marriage will ultimately be resolved in the US Courts, but a final resolution has yet to present itself.

In matters related to the Association of Southeast Asian Nations (ASEAN), it was recently noted that diplomatic progress has been made with respect to negotiations pertaining to the South China Sea. In order to provide further insight it is necessary to quote directly from the official website of the Japan Times, JapanTimes.co.jp:

KANEOHE, Hawaii — Last week a sense of optimism wafted out of the Bali meetings of the Association of Southeast Asian Nations. ASEAN and China agreed on “guidelines” for implementing their previously agreed 2002 Declaration on Conduct of Parties in the South China Sea (DOC). Some players including China hailed this as a breakthrough. Others agreed with U.S. Secretary of State Hillary Clinton that “It was an important first step but only a first step” and that ASEAN and China should move quickly — even urgently — toward an actual code of conduct…ASEAN made a major compromise by agreeing to drop a clause that would mandate that it form an ASEAN position before dealing with China on South China Sea issues. This gesture was important to convince China that the other claimants (Brunei, Malaysia, the Philippines and Vietnam) are not using ASEAN to “gang up” on it. China also deserves considerable credit. It had long resisted the draft guidelines and made a major compromise by agreeing to them…

Readers are encouraged to click upon the relevant hyperlinks above to read this interesting posting in full.

As the tensions in the South China Sea seem to be subsiding there seem to be many who hope that a lasting framework can be implemented in order to deal with the myriad issues that are raised by the complexity of this multi-jurisdictional dispute. The issue of maritime freedom of navigation is an important and salient one for those nations which maintain sea power. Therefore, balancing the interests of all such parties in any agreement can be difficult and the drafting of such an agreement could be time consuming as well.  Hopefully, any possible future agreement will operate to the benefit of all concerned.

For information related to legal services in Southeast Asia please see: Legal.

more Comments: 04

31st July 2011

It recently came to this blogger’s attention that there are increasing instances of Western commentators discussing the Pan Asia Gold Exchange (PAGE). As these discussions can have implications for the wider business community it may be prudent to quote directly from an article written by Ned Naylor Leyland and posted on the website 24hgold.com:

Today was the inauguration ceremony replete with myriad ministers and mandarins from central and regional government. This initiative is supported at the highest levels in China with SOEs as shareholders, the support of the Beijing Gold Exchange and SAFE (State Administration of Foreign Exchange). PAGE are buying into the concept that leverage has its limits and that leasing must also be carefully monitored…The biggest bombshell however, is the offer of Rmb contracts for international investors, agreed by SAFE. The international part of the Exchange’s business is expected to be available by Q4…

This blogger strongly encourages readers to click on the hyperlinks noted above to read this insightful article in detail.

Issues related to business and capital movement in the jurisdictions which comprise the Association of Southeast Asian Nations (ASEAN: Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam) have been of increasing interest to those who monitor international trade and geopolitics. Meanwhile, many in the business community would appear to be anticipating how the ramifications of further business in China will impact Greater Asia and the global economy. Hopefully, these developments will be beneficial for all concerned.

In news pertaining to American immigration, it recently came to this blogger’s attention that the United States Citizenship and Immigration Service (USCIS) is apparently trying to encourage further use of the T visa. To quote directly from the Daily Journal website, DailyJournal.net:

PHILADELPHIA — Federal immigration officials are working with authorities in Philadelphia and other cities around the U.S. to try to increase the use of a special visa to help victims of human trafficking, a visa that has been underutilized since its creation nearly a decade ago. At issue is the nonimmigrant “T visa,” which U.S. Citizenship and Immigration Services officials say is an underutilized tool that can be used to help victims of human trafficking who have been brought into the country — using deception in many cases — and then used as sex slaves or forced into other types of involuntary servitude. There is a 5,000 yearly cap on the visa, which allows eligible victims and family members to stay in the country up to four years. But fewer than 5,000 have been approved in total since it was instated in 2002…

The administration of this web log asks that readers click upon the relevant hyperlinks above to read this article in detail.

Unfortunately, the scourge of human trafficking has yet to be fully eradicated in either an international or national context. Hopefully, USCIS can effect some change to this situation through astute use of the T visa noted above. Meanwhile, as noted previously on this blog, there are other agencies of the United States government taking proactive measures to decrease incidents of human trafficking. Hopefully these efforts results in tangible benefits for all people since the issue of human trafficking is something which effects everyone.

For information pertaining to legal services in Southeast Asia please see: Legal.

more Comments: 04

6th July 2011

Inflation can be concerning for countries around the globe. In that vein, it recently came to this blogger’s attention that officials in China have apparently decided to raise an important interest rate. For further insight it is necessary to quote directly from the official website of USA Today, USAToday.com:

BEIJING — China raised a key interest rate Wednesday for a third time this year as it tries to cool surging inflation. The benchmark rate for one-year loans will be raised 0.25 percentage points to 6.56%, effective Thursday, the central bank announced. The rate paid on deposits will rise a similar margin to 3.5%. Inflation hit a 34-month high of 5.5% in May and is believed to have risen in June even as an overheated economy cools gradually under the pressure of investment curbs and other controls…

The administration of this blog asks readers to click upon the appropriate hyperlink noted above in order to read this insightful article in full.

In recent months it would seem as though China has had some difficulty controlling inflation. It would appear that the decision noted above has been made in an attempt to reign in rising inflation. In a previous posting on this blog it was noted that economic officials in the Southeast Asian nations of Laos and Cambodia have commented upon the likelihood that inflation would increase in those countries moving forward. Clearly, there exists an overall trend of inflation around the globe, but it remains to be seen whether governmental efforts will be successful in mitigating the ramifications of this economic force.

In related economic news, it appears that officials of the Association of Southeast Asian Nations (ASEAN) are poised to meet with business leaders from the nation of Japan. To shed light upon these unfolding events it may be prudent to quote directly from Yahoo News Singapore at Yahoo.com:

KUALA LUMPUR, July 5 (Bernama) — The Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA) will hold its fourth annual dialogue with the Secretary-General of ASEAN Secretariat, Dr Surin Pitsuwan, here on Friday. During the dialogue, they will exchange views on tackling business issues associated with Asean”s on-going economic integration, said Takehide Teranishi…

This blogger encourages readers to click upon the relevant hyperlinks noted above to read about this situation in detail.

In a previous posting on this blog it was noted that the ASEAN community had sent a goodwill mission to Japan in response to events which transpired as a result of the tragic Earthquake in March of this year. As Japan remains a substantial economic force in both an Asian and global context it remains an important trading center. Therefore, other countries such as the United States, those within the ASEAN region (Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam), and even the so-called BRICS countries (Brazil, Russia, India, China, and South Africa) seek to maintain strong trade relations with Japan. Hopefully economic benefits derived from the discussions noted above will accrue to the economies of all concerned.

For information regarding legal services in Southeast Asia please see: Legal.

more Comments: 04

The hiring of a lawyer is an important decision that should not be based solely on advertisement. Before you decide, ask us to send you free written information about our qualifications and experience. The information presented on this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.