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Posts Tagged ‘China Business’
15th January 2012
It recently came to this blogger’s attention that the President of Taiwan has won his recent bid for re-election. In order to shed further light upon these developments it is necessary to quote directly from the website of Asia News Network:
Taiwan President Ma Ying-jeou yesterday defeated rivals Tsai Ing-wen and James Soong sweeping more than 51 per cent of the presidential vote. The incumbent garnered more than 6.68 million votes to win another four year term after a re-election campaign that relied heavily on its China-friendly platform.
This blogger recommends that readers click upon the hyperlinks noted above in order to gain further insight into these developments.
It is often unwise to try to analyze the politics of Taiwan especially when comparing that jurisdiction to China. However, both Taiwan and China are very important players in an increasingly expanding and broad Asian economic landscape. Therefore, to ignore either jurisdiction may be unwise.
Export growth slowed to 13.4% in December compared with a year earlier, down from 13.8% the previous month, while Chinese imports grew only 11.8% over December 2010, well below the 17% consensus prediction in a Reuters survey of economists…Fourth-quarter 2011 data for gross domestic product (GDP), to be published next week, are now expected to the worst for at least two years. Economic growth may have slowed to 8.7% from a year earlier, according a survey by Bloomberg News, which reports that UBS AG estimates 7.7% growth this quarter…
Readers are strongly encouraged to read this article in detail for further information.
Although it is difficult to say for certain whether any of these forecasts will actually result in an overall slowdown of the Chinese economy this blogger merely finds it interesting to peruse Chinese trends, both political and economic, because such trends can have an impact upon the Southeast Asian region. The Association of Southeast Asian Nations (ASEAN) is becoming an increasing potent economic conglomeration especially since it encompasses dynamic economies such as the Kingdom of Thailand, Singapore, Malaysia, and Vietnam along with emerging economies such as Myanmar, Laos, and Cambodia. The “ripple effect” of the different Asian economic strategies can often lead to unforeseen consequences across the pan-Asia spectrum. In any event, simple speculation is sometimes an interesting pastime for both outsiders as well as those well versed in the multifaceted nature of Asian economics.
For information regarding legal matters in Southeast Asia please see: Legal.
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.
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.
30th July 2011
It recently came to this blogger’s attention that representatives from the jurisdictions which comprise the Association of Southeast Asian Nations (ASEAN) are set to meet in September. Further, the Philippine DFA has apparently commented upon these developments. To provide further insight it is necessary to quote directly from the website ABS-CBNNews.com:
MANILA, Philippines – A team of maritime legal experts from the Association of Southeast Asian Nations (ASEAN) is scheduled to meet in Manila in September to begin talks on maritime territorial issues, the Department of Foreign Affairs (DFA) said Friday. This is part of the preventive diplomacy approach wherein ASEAN experts will determine disputed from non-disputed waters, DFA spokesman Raul Hernandez said. “The experts will give a concept paper to determine the zone of peace and cooperation and let them discuss it, assess and hopefully support it. We will present it to the ASEAN and hopefully China will hear it,” he added…
The administration of this web log strongly encourages readers to click upon the hyperlinks noted above to learn more from this insightful article.
There are many who have speculated that the ASEAN region could one day see a single visa system similar to the Schengen system utilized in certain countries of Europe. However, this development remains to be seen. Meanwhile, discussions regarding the tensions which have recently arisen with respect to the South China Sea area have sort of been “tabled” until the upcoming meeting in Manila. Hopefully, this situation evolves into something that is beneficial for all of the ASEAN countries and the Greater Asian region as a whole.
In news pertaining to the continuing struggle for LGBT Equality it recently came to this blogger’s attention that a venerated publication has noted recent shifts in American attitude regarding same sex marriage. To quote directly from the official website of The Economist magazine, Economist.com
[W]hen National Journal polled political “insiders” this month, it found a majority of Democratic politicos, lobbyists and strategists in favour of making gay marriage legal. No less telling, a majority of their Republican counterparts, while continuing to oppose gay marriage, thought their party should just ignore the issue. That might make electoral sense. Since it is the young who are most relaxed about gay marriage, standing in its path might cost the Republicans dear in the future. The notion of denying gays the spousal rights available to others makes little sense to a generation that sees marriage at least as much as a union of soul-mates as a formal structure for child-rearing…That may be why Rudy Giuliani, the former mayor of New York who ran for the presidency in 2008 and may yet do so again, has warned fellow Republicans to “get the heck out of people’s bedrooms”…
This blogger asks readers to click upon the hyperlinks noted above to read further from this insightful article by Lexington.
Frequent readers of this blog may have noted that the Respect for Marriage Act (RFMA) noted above was introduced in the United States House of Representatives by Representative Jerrold Nadler. Representative Nadler is also the sponsor of the Uniting American Families Act (UAFA) which, if enacted, would remedy the current discrimination faced by same sex bi-national couples who cannot receive visa benefits such as the CR-1 visa, the IR-1 visa, or the K-1 visa in the same manner as their different-sex counterparts notwithstanding that they may have a valid State licensed same sex marriage.
For information pertaining to legal services in Southeast Asia please see: Legal.
23rd June 2011
It recently came to this blogger’s attention that American federal legislators appear poised to introduce legislation aimed at legalizing marijuana in an intra-State context (although there do appear to be measures in place to deal with the possibility of inter-State smuggling and issues associated therewith). To provide better perspective on this issue it may be best to quote directly from Yahoo News Canada at Yahoo.com:
A group of US representatives plan to introduce legislation that will legalize marijuana and allow states to legislate its use, pro-marijuana groups said Wednesday. The legislation would limit the federal government’s role in marijuana enforcement to cross-border or inter-state smuggling, and allow people to legally grow, use or sell marijuana in states where it is legal. The bill, which is expected to be introduced on Thursday by Republican Representative Ron Paul and Democratic Representative Barney Frank, would be the first ever legislation designed to end the federal ban on marijuana. Sixteen of the 50 states as well as the District of Columbia have legalized the use of marijuana for medical purposes…
Readers are strongly encouraged to click upon the hyperlinks noted above to learn more about these developments. Readers are also prudent to note that as of the time of this writing, marijuana is either illegal or its usage is highly restricted in many jurisdictions around the globe. Those Americans interested in learning more about such matters are encouraged to contact a licensed attorney in their jurisdiction. Readers should further note that usage of marijuana is strictly prohibited in the Kingdom of Thailand.
These developments are interesting as it would appear that the real impetus behind this legislative move stems from what would appear to be a genuine bi-partisan desire on the part of legislators to find new sources of tax revenue at the State and federal levels while simultaneously relaxing restrictive regulations that diminish the civil liberties of the American Citizenry. Readers are asked to recall that Representative Barney Frank has been a proponent of a more permissive regulatory structure pertaining to online gaming. Meanwhile, Representative Ron Paul has been an ardent advocate for American civil, individual, and States’ Rights for a number of years. It will be interesting how this proposed legislation fares in the nation’s Congress.
Although seemingly unrelated to the developments in the United States, officials on the island of Taiwan have recently noted that there is to be a relaxation of restrictions placed upon tourists coming to that location from Mainland China. In order to place these developments in context it may be prudent to quote directly from the website News.com.au:
TAIWAN has lifted a decades-old ban on travel to the island by individual Chinese tourists, saying visitors would act as “peace ambassadors” for the former arch foe. The first batch of independent mainland tourists, from Beijing, Shanghai and the city of Xiamen on the southeast coast, were expected to arrive next Tuesday, local media reported. Travel between the island and mainland stopped at the end of the civil war in 1949, and mainland tourists have so far only been allowed to visit Taiwan in groups due to official concerns they might otherwise overstay their visas and work illegally…
The administration of this blog recommends that readers click upon the relevant hyperlinks above to learn more details on this developing story.
Clearly, intra-China tourism is likely to increase revenue and commerce for all concerned. As noted previously on this blog, China continues to show signs that there will be significant economic growth moving forward. It stands to reason that such growth may have beneficial consequences for other jurisdictions in the region as Chinese tourists travel to other locales and Chinese businesses trade and increase their presence in foreign venues. Hopefully these developments will be an economic boon to the Taiwanese economy.
For information related to legal services in Asia please see: Legal.
2nd June 2011
It recently came to this blogger’s attention that the German Chancellor, Angela Merkel, has expressed some concern about the possibility of the Union of Myanmar (also sometimes colloquially referred to as Burma) becoming Chair of the Association of Southeast Asian Nations (ASEAN). In order to provide further insight it may be best to quote directly from the website of Channel News Asia, ChannelNewsAsia.com:
SINGAPORE: German Chancellor Angela Merkel on Thursday urged ASEAN to openly discuss Myanmar’s political and human rights problems before the country takes its turn as chair of the regional bloc. “Looking at the discussion about Myanmar and its interest in taking over the presidency of ASEAN, I am a little bit concerned,” she told a forum in Singapore, a founding member of the Association of Southeast Asian Nations (ASEAN). Merkel told an audience of government officials, foreign diplomats and academics that “the present leadership of Myanmar has not really proved that they are serious about embarking on the road of democracy…”
The administration of this web log strongly encourages readers to click upon the relevant hyperlinks above to learn more on this topic.
The Union of Myanmar has been in the news a great deal recently as that country recently held elections ushering in something of a new era in Myanmar’s politics although there are some who argue that there has been little real change resulting from the aforementioned elections. That stated, it is this blogger’s personal opinion that any progress under the circumstances would be a good thing. Frequent readers of this blog may note that Myanmar was recently rumored to be pondering the opening of a stock exchange although that has yet to see fruition.
Meanwhile, the United States and China appear poised for cooperation in matters pertaining to ASEAN as a recent article on the Voice of America website pointed out. To quote directly from the aforementioned article:
A top State Department official says that as the United States works to deepen its engagement in Southeast Asia, working closely together with China is a key part of that effort. U.S. Assistant Secretary of State Kurt Campbell says that one of the the most important things that the United States is seeking to do this year, both at the ASEAN regional forum and the East Asia Summit, is show the United States deep commitment to working with China…As the United States works to find common ground with China, the world’s second largest economy and a rising Asia-Pacific military power, Campbell says Washington will be seeking to highlight areas of common pursuit with Beijing and find specific projects the two countries can work with each other in the region…
This blogger encourages readers to click on the hyperlinks noted above to find out more.
It is good to see that American officials are making an effort to become more engaged in the ASEAN region especially with the cooperation of the Chinese since combined efforts could yield significant benefits in the form of better diplomatic and trade relations for all concerned. In a previous posting it was noted that Chinese officials plan to incorporate a high speed rail link into the current rail system employed in the Kingdom of Thailand so that there would be a contiguous rail link between Thailand, Laos, and Greater China. In addition, it was also announced that Bangkok will likely soon see a Chinese Trade Complex which is to be designed to provide a platform for the trade of goods in Thailand. How all of these developments will ultimately play out remains to be seen, but one thing is clear: there is room for optimism in a current analysis of ASEAN developments.
For related information please see: US-Thai Treaty of Amity.
30th May 2011
The “China Domino” And Robotic Immigration Booths In Taipei?
Posted by : admin
It recently came to this blogger’s attention that an increase in Asian consumerism may have a possible impact upon the global economy overall. To quote directly from a recent article written by Gregory White and posted on the website of Business Insider, BusinessInsider.com:
Yesterday, we told you about the Soc Gen research note “The China Domino has Fallen!” and its alarming conclusion that the world needs to expect significantly more inflation in the near term. Included in that report is a rather complex, but explanative chart, on just why this is happening. It displays the global supply and demand curve. While there are a great deal of variables at work here, the key, according to Soc Gen’s latest, is the expected surge in Asian consumers from China’s rebalancing…
The administration of this web log strongly encourages readers to click on the hyperlinks noted above to learn more.
It stands to reason that as an economy as substantial as that of China makes its presence increasingly felt in the world economy the other players in the world economy will feel the ramifications of economic activity occurring in China and the surrounding region. To a lesser degree, the same might also be said for economic activity occurring in the Association of Southeast Asian Nations (ASEAN) as such activity can have ramifications for economic actors in other parts of the world. That stated, it seems unlikely that ASEAN‘s economic impact upon the global economy of the future will be as significant as that of China since China’s economy is more cohesive and streamlined compared to the more loosely arranged economies of ASEAN.
In other news pertaining to China it recently came to this blogger’s attention that the Chinese island of Taiwan may soon be the site of robotic immigration checkpoints at some point in the future. To quote directly from an article written by Loa lok-sin posted on the official website of the Taipei Times, TaipeiTimes.com:
In a few years, visitors could pass through unmanned immigration booths following instructions given by smiling robots when they step off the plane at Taiwan’s international airports, National Immigration Agency (NIA) -Director–General Hsieh Li-kung (謝立功) said yesterday. The first unmanned immigration inspection booths were installed on Tuesday at Shueitou Pier (水頭碼頭) in Kinmen County, from which ferries depart to Xiamen, China. “At this point, automatic immigration inspection booths have been installed only at Shueitou Pier, and are open only to [Republic of China (ROC)] nationals,” Hsieh told the Taipei Times during a telephone interview. “We plan to install the system at Taiwan Taoyuan International Airport next month — but only for [ROC] nationals as well.”
The administration of this blog encourages readers to click upon the hyperlinks noted above to learn more.
Clearly, the conditions of international travel are likely to change in the future as technological improvements continue to present themselves. However the idea of passing through a robotic immigration and/or customs checkpoint still seems somewhat alien, at least to this blogger. One wonders if such technological innovation will soon change the face of ports of entry to the United States or if robots of the United States Customs and Border Protection Service (USCBP) will one day usher in American Citizens upon their return to the United States of America. Such developments remain to be seen as of the time of this writing.
For related information please see: Legal.
25th May 2011
It recently came to this blogger’s attention that Chinese Taiwan (also referred to as the Republic of China) has had some noticeable apprehension regarding its place in the Asian and global business communities. To quote directly from an article written by Paul Mozur, Aries Poon, and Jenny W. Hsu posted the official website of The Wall Street Journal, WSJ.com:
TAIPEI—A warning from a government trade council in Taiwan highlights concerns that the island has become increasingly isolated by the burgeoning network of free trade agreements connecting Asia and the rest of the world. Although Taiwan signed a landmark trade agreement with China last year, many experts say the island’s trade negotiations with key markets such as the European Union and Japan have been bogged down by Chinese opposition and political differences. This has led Taiwan’s export-dependent economy to become increasingly cut off from the network of trade agreements that have proliferated over the past decade, giving Taiwan’s regional rivals a competitive advantage that could harm the island’s long-term growth prospects, they argue…
The administration of this web log strongly encourages readers to click upon the hyperlinks noted above to learn more from an insightful and well written article.
It would appear that some of the Taiwanese apprehension regarding relative isolation springs, at least in part, from a recent agreement that was forged between the Association of Southeast Asian Nations (ASEAN) and China. To quote further from the aforementioned article:
“This [marginalization] is one key reason why Taiwan hasn’t been doing that great over the past decade … and recently the agreement between [the Association of Southeast Asian Nations] and China has given Southeast Asian countries better access to the Chinese market than Taiwan,” said Royal Bank of Scotland economist Erik Lueth. That agreement, known has Asean Plus One, was cited by Taiwan President Ma Ying-jeou as a key impetus for the signing of the framework agreement with China…
Clearly, there are geopolitical ramifications for all of the Asian economies resulting from the increasingly prominent position of ASEAN, which counts the Kingdom of Thailand and the Kingdom of Cambodia amongst its membership, in both an Asian context as a well as a global context. Some feel as though ASEAN represents a great deal of potential future growth for Asia as a whole as the economies in Southeast Asia become increasingly vibrant and increasingly interconnected to the other economies of Asia. This same growth potential could also be inferred in a global context as ASEAN seems poised to act as an increasingly important facilitator of trade world wide.
Bearing all of the above in mind, this blogger found it interesting that ASEAN officials are taking measures to provide humanitarian aid to the victims of the recent disaster in Japan. To quote directly from the official website of the Philippine Information Agency at pia.gov.ph:
MANILA, May 25 -– All hands are up as ASEAN Secretariat seeks volunteers for the ASEAN Caravan of Goodwill to visit survivors in Ishinomaki city, Miyagi Prefecture in Northeastern Japan, on 3-5 June 2011. The area has been devastated by the earthquake and tsunami of March 2011. What started as a simple idea to lift the spirit of and show comradeship with the survivors by the Secretary-General of ASEAN, Dr Surin Pitsuwan—and agreed by the Special ASEAN-Japan Ministerial Meeting on 9 April 2011 in Jakarta—is receiving tremendous response…
The administration of this blog asks readers to click upon the hyperlinks noted above to learn more on this story.
It is certainly positive news that the ASEAN community is concerned enough about the situation in Japan to send Caravan of Goodwill. Hopefully, such endeavors will prove beneficial to the Japanese people as they have definitely been the victim of unfortunate circumstances in recent weeks.
For related information please see: Legal.
18th April 2011
S&P Downgrades US Sovereign Debt While BRICS Seek “Phase Out” Of Dollar
Posted by : admin
It recently came to this blogger’s attention that there are important events occurring in the realm of finance as the United States recently appears to have had its sovereign debt rating outlook lowered by Standard & Poor’s. To quote directly from an article written by Robin Harding, James Politi, and Michael Mackenzie on the official website of the Financial Times at FT.com:
Standard & Poor’s issued a stark warning to Washington on Monday, cutting its outlook on US sovereign debt for the first time and throwing more fuel on the raging debate over America’s swollen deficits.
The agency kept America’s credit rating at triple A but for the first time since it started rating US debt 70 years ago, cut its outlook from “stable” to “negative”. A negative outlook means there is a one-third chance of a downgrade in the next two years.
The administration of this blog strongly encourages readers to click on the hyperlinks above to view this story in detail as further insight can be derived therein.
The ramifications of this announcement are likely to reverberate around the globe, but in the United States there appears to have already been at least a market reaction to this information. To quote directly from an article written by Larry Elliot posted on the official website of The Guardian at Guardian.co.uk:
US budget deficit has moved from a surplus at the turn of the millennium to a deficit of 11% by 2009. Shares fell sharply on Wall Street today after the ratings agency S&P issued a warning to the US government about its soaring budget deficit. In a move that surprised and rattled the financial markets, S&P said it was cutting its long-term outlook on America from stable to negative…In early trading in New York, the Dow Jones industrial average had lost nearly 250 points – 2% – with the dollar weaker on the foreign exchanges and yields rising on US Treasury bills. The FTSE 100 in London was also down 2% or 126 points at 5869.
Again, this blogger strongly encourages readers to click on the hyperlinks above to read further and gain greater insight.
Hopefully, the consequences of the S&P downgrade will be short lived for America and her People, but there are some who argue that further turbulence may be ahead as countries around the world are economically re-aligning in ways which are unprecedented. To quote directly from an article written by David Marsh on the website Yahoo.com:
China and four other leading high-growth economies have taken landmark steps toward lowering the importance of the dollar in international financial transactions — part of a seminal shift in the move towards a multicurrency reserve and trading system…Addition of South Africa to the former BRICS format seems to have galvanized the grouping. The five countries agreed to expand use of their own currencies in trade with each other — an important step toward putting the dollar into a new downsized place. One key influence is the annual expansion of China’s trade volume with other core countries by 40% in 2010 — and the buoyancy looks set to continue. The BRICS’ state development banks, including the China Development Bank, agreed to use their own currencies instead of the dollar in issuing credit or grants to each other — and they will also phase out the dollar in overall settlements and lending among each other.
In the recent past, it seemed as though many were discussing an “alternative” reserve currency to take the place of the dollar in an international context. However, from the information which can be gathered above, it would appear as though the so-called BRICS countries (Brazil, Russia, India, China, and newly added South Africa) are moving towards something of a multicurrency system which, presumably, would incorporate the currencies, to one degree or another, of the member states noted above.
It is difficult to comment upon these events in detail at the time of this writing as the full ramifications of S&P’s downgrade, in conjunction with the BRICS announcements, could substantially impact the United States, Thailand, and the Association of Southeast Asian Nations (ASEAN) as a whole; since all of these entities have economic and political ties to the BRICS nations.
Concurrently, it would appear as though the Kingdom of Thailand remains something of an oasis of economic stability amidst the events unfolding above as tourism in Thailand along with the business of Thai Companies would appear to be steady. Currently, Thailand maintains thriving economic ties with the United States pursuant to agreements such as the US-Thai Treaty of Amity.
13th April 2011
BRICS Summit and ASEAN Exchanges Website Launch
Posted by : admin
Those who have been reading this blog with any degree of regularity may have noticed that the economies, polities, and geopolitics of the world are in something of a state flux. This is not to say that this is either a positive or negative thing as such events occur from time to time. Therefore, astute followers of such events must be careful about making rigid predictions about how such matters will play out in the future. That being stated, it has recently come to this blogger’s attention that representatives from the so-called BRICS countries (an acronym denoting Brazil, Russia, India, China, and, now apparently, South Africa) are having a summit. To quote directly from a concisely written article by , On Wednesday April 13, 2011, 5:37 am EDT as posted on Yahoo.com:
SANYA, China (AP) — The leaders of the world’s largest emerging economies gather this week in southern China for what could be a watershed moment in their quest for a bigger say in the global financial architecture.
Thursday’s summit comes at a crucial moment for the expanded five-member bloc known as the BRICS, which groups Brazil, Russia, India, China, and, for the first time, South Africa.
Chinese President Hu Jintao, Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, Indian Prime Minister Manmohan Singh and South African President Jacob Zuma will attend.
With the G-20 group of major economies seeking to remake parts of the global financial architecture, it’s time for the BRICS to test whether they can overcome internal differences and act as a bloc pursuing common interests.
The ramifications of this meeting could prove historic as the countries noted above, along with those that comprise the Association of Southeast Asian Nations (ASEAN), appear on track to become increasingly economically dynamic in the forthcoming years. While reading this article, this blogger was especially impressed by this writer’s insightful analysis of the characteristics of the BRICS countries. To continue quoting directly from the aforementioned article:
The five countries are loosely joined by their common status as major fast-growing economies that have been traditionally underrepresented in world economic bodies, such as the International Monetary Fund and the World Bank.
All broadly support free trade and oppose protectionism, although China in particular has been accused of erecting barriers to foreign competition. In foreign affairs, they tend toward nonintervention and oppose the use of force: Of the five, only South Africa voted in favor of the Libyan no-fly zone.
At the time of this writing, the summit noted above would appear to be geared mainly toward economic matters or matters pertaining to the economic realm, but how increasing ties among these nations could impact affairs playing out in the international political arena remains to be seen.
On a related note, Stock Exchanges in some of the Nations which compose the Association of Southeast Asian Nations (ASEAN), including Thailand, have recently announced collaborations apparently referred to as ASEAN Brand Identity, an ASEAN Exchanges website, and ASEAN Stars. In following up on that story it would appear that the ASEAN Exchanges website is now live, to quote directly from the website AsiaToday.com:
Launched today was the ASEAN Exchanges website (www.aseanexchanges.org) that will feature the ASEAN Stars and other ASEAN centric products and initiatives giving investors an integrated single-window view into the ASEAN capital market; a market that has a combined market capitalisation of approximately USD1.8 trillion and participation of more than 3,000 companies. Some of these companies are the largest and most dynamic companies in the world including leaders in finance and banking, telecommunications, commodities, automotive manufacturing and other industrial sectors.
The administration of this blog highly recommends that readers click upon the hyperlinks above to learn more details about these issues and the various exchanges within the ASEAN region as the whole Southeast Asia area is quickly becoming a vibrant economic force both on a regional and global level.
Meanwhile, it should be noted that the nation of Laos has recently brought a Lao stock exchange online while Cambodia appears poised to take the same steps soon. Even the developing Union of Myanmar (referred to by some as Burma) has signaled interest in the opening of a Myanmar stock exchange. Whether such a development comes to pass remains to be seen. What is clear is that economic relationships are becoming increasingly stratified as economically dictated by the interests of the players in each of the markets of the world. Those interested in such matters are highly encouraged to conduct their own research and come to their own informed conclusions.
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