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Posts Tagged ‘Association of Southeast Asian Nations News’

7th August 2011

It recently came to this blogger’s attention that financial and economic analysts in China are rather pessimistic regarding the prospects of the American financial system in its present form. In order to provide further insight into these developments it is necessary to quote directly from the CNBC website, CNBC.com:

The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating. In comments emailed to CNBC, Guan Jianzhong, chairman of Dagong Global Credit Rating, said the currency is “gradually discarded by the world,” and the “process will be irreversible.” Dagong made headlines last week when it became the first rating agency to cut its U.S. credit rating from “A+” to “A” after policymakers in Washington failed to act in a timely manner to lift its debt celing…[sic]

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

It is this blogger’s opinion that although the American economy is in a rather precarious position as of the time of this writing, the one attribute most notable about said economy is her ability to recover and thrive even after a significant downturn. How the American economy and the United States dollar will fare moving forward remains to be seen, but it is clear that many in Asia monitor such developments closely as economic conditions in the United States can have implications for the Asia-Pacific region, the so-called BRICS countries, and the Association of Southeast Asian Nations (ASEAN).

In news directly pertaining to the Kingdom of Thailand and the Association of Southeast Asian Nations (ASEAN), it recently came to this blogger’s attention that officials in Thailand are attempting to provide ASEAN exposure to Thai small and medium sized businesses. To provide further information it is necessary to quote directly from the official website of the Bangkok Post, BangkokPost.com

The Thailand Plaza programme to help local small businesses gain exposure abroad needs a fresh focus with more showrooms in Asean countries, according to the Office of Small and Medium Enterprises Promotion (Osmep). The programme that originated during the Thaksin Shinawatra government focused on developed Western countries but the results were poor. The first plaza in the United States folded as the cost of maintaining the office was too high. Thailand Plazas, with a budget of 100 billion baht, are seen as having potential to become a key marketing channel for Thai small and medium enterprises (SMEs) to gain access to Asean countries. Yuthasak Supasorn, the Osmep director-general, said partners of Thai SMEs could also order products via Thailand Plaza outlets in each country.

This blogger asks readers to click upon the relevant hyperlinks noted above to read this article in detail.

As the jurisdictions which comprise the ASEAN community continue to expand economically it stands to reason that intra-ASEAN trade will be facilitated by programs like the aforementioned one noted in the quotation above. How the scheme above will ultimately be implemented remains to be seen, but clearly there is reason to believe that a program such as this could be beneficial for both ASEAN jurisdictions outside of Thailand and the overall Thai business community.

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

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3rd July 2011

It recently came to this blogger’s attention that the Kingdom of Thailand may see a female Prime Minister for the first time in that country’s history. In order to provide further insight into these developments it may be best to quote directly from the official website of Reuters, Reuters.com:

Yingluck Shinawatra, a 44-year-old businesswoman who wasn’t even in politics two months ago, is poised to get the top job after the stunning election victory of Puea Thai (For Thais), whose de facto leader is her brother, fugitive ex-premier Thaksin Shinawatra. Yingluck, known as Pou (Crab), the nickname her parents gave her, has never run for office or held a government post, so she has a lot to prove to show she can run the country. But some Thais, especially females, want to give her the benefit of the doubt and see this as a big step for women in a country where they have struggled for equal representation in government…

The administration of this web log encourages readers to click upon the relevant hyperlinks noted above to read further about the details of this story.

The Kingdom of Thailand is a member of the Association of Southeast Asian Nations (ASEAN) and political events occurring in this jurisdiction can have ramifications for the business community in Thailand and Greater Asia. Concurrently, the prospect of a first time election of a female leader in any nation is significant news by any estimate. It should be interesting to see how these events unfold.

In American news, the government of the sovereign State of Minnesota recently shut down and has remained so for a few days. To provide further insight into these events it may be best to quote directly from the official website of CNN, CNN.com:

The government shutdown in Minnesota could drag on for days as a spokeswoman for Gov. Mark Dayton said talks probably won’t happen until after the July 4 holiday. ”I do not expect formal meetings to resume before Tuesday,” Katharine Tinucci said in an e-mail Saturday night. The Minnesota government was forced to shut down Friday for the second time in six years after lawmakers failed to reach a budget agreement before a midnight Thursday deadline…

The administration of this web log encourages readers to click upon the hyperlinks above to learn more.

In a previous posting on this web log the possibility of an American federal government shutdown was discussed, but did not actually occur as American legislators came to a consensus regarding some of the issues associated with the United States budget and this consensus resulted in the American government remaining open. As the United States has a separate sovereignty system the various American States maintain separate governments from that of the federal government. The shutdown of any government can have implications for a State’s economy and therefore it is likely hoped by many around the USA (and the world) that Minnesota’s government can resolve their issues and get back to the business of governing that State.

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2nd July 2011

It recently came to this blogger’s attention that media outlets around the globe are discussing the pending elections in the Kingdom of Thailand. In order to provide more insight into these developments it may be best to quote directly from the official website of Channel News Asia, ChannelNewsAsia.com

BANGKOK – Thailand votes on Sunday in a closely fought election seen as pivotal to the future of the deeply divided kingdom, after years of political deadlock and often bloody street protests. The poll is the first major electoral test for the government since mass opposition rallies paralysed Bangkok last year, scaring away foreign tourists and sparking a military crackdown that left about 90 people dead. Now the tense vote could herald a comeback for fugitive former premier Thaksin Shinawatra and his political allies…

This blogger encourages readers to click upon the hyperlinks noted above to learn more on this story.

Politics in Thailand can have ramifications for the economy and the business community. Meanwhile, developments in Thailand can have reverberations throughout the Association of Southeast Asian Nations (ASEAN). This regional grouping is currently having a substantial regional and global impact upon geopolitics. Also, this organization’s ascendancy comes at the same time as international commentators discuss the increasing significance of the so-called BRICS nations (Brazil, Russia, India, China, South Africa). China has also received a great deal of international coverage recently as that nation’s Communist Party celebrated the 90 year anniversary of the Party’s founding. To quote directly from the official website of the Hindustan Times, HindustanTimes.com:

The world’s largest political party, in charge of the world’s fastest-growing economy, marked its 90th anniversary with a prolonged campaign of revolutionary Mao-era lyrics sung in schools, universities and parks. Television stations pulled out soaps and crime shows to air red propaganda. Employees of state-owned companies were told to troop into cinema halls to ensure that the film Founding of the Party, made with 108 actors, could claim blockbuster status…

This blogger asks readers to click upon the hyperlinks noted above to read this insightful article written by Reshma Patil.

As noted previously on this web log, China is becoming an ever more important player in the international economic arena as that nation’s Premier was recently noted for making a trip to Europe and the United Kingdom. In related news it was noted that China has previously announced plans to construct a high speed rail system to connect Southern China with the Thai city of Bangkok. It would appear that a plan is also in place to construct a large Chinese Trading Complex in the Bangkok metropolitan area. How such developments will play out in the future remains to be seen.

For related information please see: Thailand Company.

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26th June 2011

It would appear as though the United States and China have wound down their recent bi-lateral discussions concerning the Asia-Pacific region. To provide further insight it may be best to quote directly from the official website of Xinhua, Xinhuanet.com:

China and the United States rounded off their round of consultations on Asian-Pacific affairs in the U.S. state of Hawaii on Saturday, thus opening a new channel of bilateral communications on issues concerning the world’s most populous and economically dynamic region. The Hawaii consultations, part of their efforts the materialize consensus reached by the two sides upon in their latest round of strategic and economic talks this May, were initiated to promote cooperation and understanding between the world’s top two economies in the Asia-Pacific region where they both have vital interests in maintaining peace, stability and prosperity... [sic]

The administration of this web log strongly encourages readers to click upon the hyperlinks noted above to read this story in detail as it is rather insightful. In the previous posting on this web log it was noted that high ranking American diplomats had been engaged in discussions with Chinese officials. It would seem as though these discussion have been positive. It is also noteworthy that the aforementioned article also noted American engagement with the Association of Southeast Asian Nations (ASEAN), to quote further: 

Meanwhile, Washington is trying to reinforce its engagement with many organizations in the region, for instance, the Association of Southeast Asian Nations (ASEAN). U.S. President Barack Obama also declared he would attend the East Asia summit in Jakarta, capital of Indonesia late this year.

These events are certainly hopeful for the Asia-Pacific region and they appear to be transpiring virtually in tandem with a recent visit by the Chinese Premier to the United Kingdom which has apparently been followed by a trip to Europe. While on this trip, the Chinese Premier appears to have made some statements regarding China’s investments in Europe. To provide further insight into these developments it may be wise to quote directly from an article written by Malcolm Moore and posted to the official website of The Telegraph, Telegraph.co.uk:

Yesterday, at the start of his European visit in Hungary, Mr Wen gave a strong pledge of China’s support for the embattled euro, saying that China will buy Hungarian government bonds and “consistently” support the euro as Europe attempts to fight its way out of a sovereign debt crisis. “China is a long term investor in Europe’s sovereign debt market,” he said at a press conference with the Hungarian Prime Minister, Viktor Orban. “In recent years we have increased by quite a big margin our holdings of government bonds. We will consistently continue to support Europe and the euro.”

This blogger asks readers to click upon the relevant hyperlinks noted above to find out further details.

As has been noted previously on this blog, the ascension of the Chinese economy relative to the other economies of the world is having a global impact as Chinese polices can have ramifications in both Asia and Europe, virtually simultaneously. China’s future policies and decisions remain to be seen, but one thing is clear: when China moves, the world watches.

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

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22nd June 2011

It recently came to this blogger’s attention that the Association of Southeast Asian Nations (ASEAN) has seen the launch of a dedicated television channel. To provide more insight upon these developments it may be best to quote directly from the website MyThaiPhotos.com:

Tonight saw the official launch of ASEAN TV which is a new channel that serves 10 member countries in the English language. It’s actually been around for nearly two years as a project by MCOT. However they have now joined with the Nation group who run Thailand’s first 24 hour news channel. This co-operation between MCOT and the Nation means we will now get another 24 hour English language news channel in Thailand.

This blogger encourages readers to use the hyperlinks noted above to read the full details of this recent announcement.

There are many positive benefits that could be accrued to the people of the various ASEAN jurisdictions as a result of the launching of a television channel dedicated to ASEAN affairs. As ASEAN becomes increasingly important in an economic context it stands to reason that those in the ASEAN region and around the globe will be seeking information regarding the various economies which comprise this important organization. Meanwhile, ASEAN seems to be becoming increasingly important geopolitically (along with the so-called BRICS nations) so a news channel dedicated to providing insight into the political events occurring in the ASEAN jurisdictions (Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam) would appear to be something of a necessity for those who wish to remain informed regarding current events therein.

In rather unrelated news (but likely pertinent for readers of this web log) it recently came to this blogger’s attention that the sovereign State of Michigan may see TSA-related legislation similar to that proposed in the sovereign State of Texas. In order to provide some insight into these developments it may be best to quote directly from the website of the Daily Tribune, DailyTribune.com:

An Oakland County lawmaker is taking aim at the Transportation Security Administration and how its agents perform airport passenger security checks. State Rep. Tom McMillin, R-Rochester Hills, wants to make it a misdemeanor for any TSA employee to “conduct an intrusive, personal search on citizens without reasonable cause.” McMillin referenced a recent incident at Detroit Metropolitan Airport “where a 29-year-old special needs passenger was subject to an allegedly intrusive search.” “The federal government is not God,” McMillin said Friday. “It doesn’t get to decide what it can do to our citizens. This is one law that needs to be in place…”

The administration of this web log strongly encourages readers to click upon the hyperlinks noted above to read more on this story.

Readers may recall that a recent posting on this blog discussed the so-called Transportation Security Administration‘s (TSA) recent harassment of a mentally challenged man in Michigan. It would appear as though that story has caused concern among Michigan legislators. This concern would seem to have manifest itself in the form of possible legislation. That stated, as of the time of this writing, there has yet to be any actual passage of such legislation on the State level. Hopefully, the developments noted above will result in benefits for all concerned.

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20th June 2011

It recently came to this blogger’s attention that it appears Malaysia (a member nation of the Association of Southeast Asian Nations, ASEAN) will not be hosting other ASEAN nations at the Langkawi International Dialogue (LID). To provide further insight it may be best to quote directly from an article written by M. Saraswathi and posted on the website Bernama.com:

KUALA LUMPUR, June 19 (Bernama) — There are no plans to include Asean nations in the Langkawi International Dialogue (LID) as it will be too big to manage, Prime Minister Datuk Seri Najib Tun Razak said today. Malaysia would maintain the present dialogue format between the African and Caribbean countries, he said. “No. We don’t want too many countries to be involved. We will maintain the present format of African and Caribbean countries,” he said when asked if Malaysia intends to include Asean countries in LID at a press conference here today. This year’s dialogue is being attended by African leaders such as Zimbabwe’s President Robert Mugabe, Prime Minister Pakalitha Bethuel Mosisili of Lesotho, Swaziland Prime Minister Barnabas Sibusiso, Ugandan Vice-President Edward Sekandi and Kenyan Vice-President Stephen Kalonzo…

The administration of this web log strongly encourages readers to click upon the appropriate hyperlinks noted above to learn more from this insightful article.

In this blogger’s opinion, one of the positive aspects of the ASEAN community, for the membership, is a sort of general flexibility. It could be inferred from the quotation above that Malaysia has a strong trade relationship with certain countries in Africa and the Caribbean. Such relationships make the Malaysian economy rather unique compared to her other counterparts in the ASEAN community. This uniqueness would seem to create various levels of comparative advantage for the Malaysian economy. Concurrently, the other jurisdictions of ASEAN (Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, and Vietnam) are able to receive a kind of refractive benefit from Malaysia’s strong trade relations in Africa and the Caribbean since ASEAN nations are able to streamline their direct trading with Malaysia herself. How ASEAN will evolve in the future remains to be seen, but it is clear that ASEAN is quite unique amongst the various regional organizations around the globe. Hopefully, this uniqueness will result in tangible benefits for the citizenry of the various ASEAN countries and for ASEAN’s trading partners as well.

On a related note, China was in the news recently as it is being reported that China is expanding her foreign reserves into non-dollar denominated assets. To shed further light upon these developments it may be best to quote directly from an article written by Jamil Anderlini and Tracy Alloway and posted to the Financial Times website, FT.com:

China began diversifying away from the US dollar in earnest in the first four months of this year, most likely by buying far more European government debt than US dollar assets, according to estimates from Standard Chartered Bank. China’s foreign exchange reserves expanded by around $200bn in the first four months of the year, with three-quarters of the new inflow invested abroad in non-US dollar assets, the bank estimated. “It certainly appears that China’s finally following through on its policy to diversify its foreign reserve holdings away from the US dollar,” said Stephen Green, the bank’s chief China economist.

This blogger asks readers to click upon the relevant hyperlinks above to find out further details. Frequent readers of this web log may recall that the United States and China are apparently cooperating with regard to ASEAN engagement, but this news came amidst announcements that China had divested rather sizable holdings in US Treasuries. As China continues to show further economic dominance on the global stage it will likely prove interesting to see how this nation invests her financial resources. Hopefully as China and ASEAN continue their economic growth it will accrue to the benefit of all concerned.

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