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Posts Tagged ‘China News’

6th May 2014

In recent articles in the Financial Times the argument has be made that the Peoples’ Republic of China will economically overtake the United States of America in the year 2014. It  should be noted that Chinese economic outpacing of the United States is only measured in terms of statistical purchasing power and little more. In any event, this revealation is significant as it shows the increasing dominance of China in the world economy. The authors of the two articles (which can be found on the Financial Times official website here and here) appear to disagree as to the importance of these developments. The  author of the first article seems rather alarmist about the fact that China will overtake the USA in statistical purchasing power while the second author notes that this should not be viewed as China overtaking the USA in all facets of comparative economics. Furthermore, the second article notes that the United States still remains politically the most powerful nation in the world despite the fact that the world is evolving from a state of unipolarity with the United States as the lone Superpower able to effectively and virtually unilaterally project its power throughout the world, to a state of multipolarity in which many nations have increasing regional (or even global) dominance in certain spheres of economics as well as politics.

The notion that the world is moving toward a state of multipolarity leads this blogger to posit: how will the Association of Southeast Asian Nations (ASEAN) fit into the framework of a multipolar world? It seems reasonable to infer that ASEAN will become an increasingly important economic bloc following the integration of the various member states’ economies under the framework of the ASEAN Economic Community (AEC) which is set to take effect on January 1, 2015. The creation of a single economic platform which will include approximately 400-500 million people, some of the fastest growing economies in the world, and some of the most strategically important geographical locations will likely lead to greater economies of scale for businesses in the region, a larger market for goods and services for the member states, and greater leverage to trade with countries outside of the bloc. However, these issues are not entirely pertinent to the question posited above. The differences between China and an integrated ASEAN economic platform will be substantial. First, some members of ASEAN rank amongst some of the largest economies in the world, in their own right. Meanwhile other economies within the region are still developing. This could lead to a “best of both worlds” scenario for ASEAN, China, and the USA. Case in point, Thailand has seen difficulties in recent years competing with cheaper Chinese labor, but the movements of labor and capital which will come hand-in-hand with ASEAN economic integration could lead to a situation where Thai companies could utilize labor pools in developing ASEAN member countries to offset the low cost of Chinese labor and thereby mitigate previous competitive disadvantages. Furthermore, the United States may find new markets for US goods in an integrated ASEAN and new venues for the manufacture of low cost goods in developing ASEAN nations that would allow for some economic de-coupling from China by the USA, thereby allowing the United States a freer hand in making foreign policy decisions vis-a-vis China. Finally, China stands to gain due to the increase in trade between China and the ASEAN nations which has recently been evidenced by the evolving nature of the geography of the Chinese economy. In recent years, increasing economic activity has been noted in Southern China across the border from Laos, which acts as a kind of entrepot for trade between China and Thailand as well as the Greater ASEAN community. Recent discussions of a high speed rail link connecting China, Laos and Thailand have also been cause for optimism that one day this region could play host to a booming economy which will bring large numbers of people out of poverty and create wealth for the peoples of all nations concerned.

Following ASEAN economic integration, there are likely to be myriad legal challenges for those businesses in ASEAN nations and abroad wishing to gain a foothold in this burgeoning market. The legal challenges posed will likely require the assistance of legal professionals in the region familiar with new ASEAN regulations as well as the internal regulatory frameworks of the various member states.

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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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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.

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7th July 2011

It recently came to this bloggers attention that important events may be transpiring with respect to China. In order to shed light upon these developments it may be best to quote directly from a recent business brief posted on the official website of the Taipei Times, TaipeiTimes.com:

China alters foreign cargo law. China will ban foreign companies, organizations and individuals from irregular-scheduled cargo sea transportation from Jan 1 next year, the Ministry of Transport said in a statement on its Web site on Wednesday.

The administration of this blog encourages readers to click upon the relevant hyperlinks noted above to gain further insight and up to date business news pertaining to China as well as Taiwan.

This news could have implications not only for businesses headquartered in Taiwan, but also for businesses in the United States of America and the Association of Southeast Asian Nations (ASEAN) as well. When countries change rules regarding cargo shipments there could be dramatic ramifications economically, financially, and geopolitically. Hopefully the news above will not have an adverse impact upon actors conducting trade at this time or in the future.

In somewhat related news it was noted that a there may be a Chinese Deputy Managing Director at the International Monetary Fund (IMF). To further enlighten this audience it may be prudent to quote directly from the official website of the China Post, ChinaPost.com.tw:

WASHINGTON — China is close to clinching a top-level post at the International Monetary Fund, IMF sources said on Wednesday after the Fund’s new chief pledged to give more power to emerging economies. They said Min Zhu, a Chinese national who was a special adviser to former IMF Managing Director Dominique Strauss-Kahn, was expected to fill a new deputy managing director post to be created by the Fund’s new chief, Christine Lagarde. “Min Zhu is expected to be named to deputy managing director,” an IMF board member told Reuters. The appointment, which would give China one of the top five management jobs at the Fund, would first need the approval of the 24-member IMF board of member countries…

This blogger asks readers to click upon the relevant hyperlinks noted above to learn more on this unfolding situation.

Matters pertaining to the IMF are generally considered newsworthy for the business community around the globe as policymakers at that institution can have an impact upon the international economy. Although it remains to be seen whether Min Zhu will ultimately be named to the aforementioned position these developments are certainly noteworthy. Frequent readers of this blog may have taken notice of the fact that in a previous posting on this blog the possibility of a non-Western Deputy Director was discussed even though at that time it was less certain where the prospective Deputy Director would hail from. Since the United States and virtually all of the ASEAN nations currently maintain some sort of trade relationship with China these developments may prove important from multiple perspectives.

For information related to conducting business in the USA please see: US Company Registration.

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

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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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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 pending legislation in the United States please see: Uniting American Families Act or Respect for Marriage Act.

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

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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.

For information related to immigration from Asia please see: K1 Visa Thailand or Legal.

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19th June 2011

It recently came to this blogger’s attention that the nations of China and India have made arrangements to resume military exchanges. In order to provide further insight to the reader it may be best to quote directly from the Associated Press on the official website of Yahoo, Yahoo.com:

BEIJING – An Indian general led a delegation to Beijing on Sunday as the two countries moved to resume exchanges between their militaries after a yearlong freeze. Maj. Gen. Gurmeet Singh and seven accompanying officers arrived in Beijing on Sunday for a weeklong visit that will also include meetings with Chinese counterparts and stops in the business and shipping hub of Shanghai and the far-northwestern territory of Xinjiang. Such exchanges were suspended by India last year in protest over China’s decision to issue visas to Indians from disputed Kashmir in the form of a document stapled into their passports rather than a stamp. The decision appeared to question the legitimacy of Indian rule in Kashmir and was considered a concession to Pakistan, India’s arch rival with which China maintains close ties…

Readers are encouraged to click upon the hyperlinks noted above to read this story in full.

It is not difficult to infer that a resumption of military exchanges between China and India could have ramifications for virtually all countries around the world, at least to some degree. This is certainly important information for those who live in either India or China. The same could also be said for those living in Greater Asia as the resumption of military exchanges could have an impact upon the geopolitics of the whole continent. Meanwhile, those living in one of the jurisdictions which comprise the Association of Southeast Asian Nations (ASEAN) are prudent to note these developments as both of these countries are likely to be increasingly important trading partners with that organization in the future. Furthermore, it should be noted that China and India are currently associated with the so-called BRICS (Brazil, Russia, India, China, and South Africa) grouping of countries which many consider to be of increasing importance on the world stage.

With ASEAN in mind, the reader should note that China and India are not the only jurisdictions that are engaging in military exchanges as it recently came to this blogger’s attention that the United States Navy is conducting a naval exercise in conjunction with some of the ASEAN member states. To quote directly from an article written by Gilbert P. Felongco and posted on the official website of GulfNews.com:

Manila: The US Navy is conducting a naval exercise with its forces from the five member states of the Association of Southeast Asian Nations (Asean) amid rising tensions in the troubled South China Sea. Dubbed the Southeast Asia Cooperation and Training (Seacat) 2011, the drills were launched last Tuesday in the Malacca Strait, Sulu Sea and Celebes Sea and will run until Friday…The drills will focus on real-time information exchange, coordinated surveillance operations, tracking, and eventual conduct of visit, board, search and seizure operation, he said…

Those reading this web log are strongly encouraged to click upon the relevant hyperlinks noted above to learn more on this developing story.

The United States Armed Forces have been known to conduct exercises in many places and it would appear that the exercise noted above is designed to coordinate efforts between ASEAN members and the United States. Readers in the Kingdom of Thailand may note that the United States routinely works with the Thai military in undertaking exercises such as Operation Cobra Gold. Hopefully all such endeavors will accrue to the benefit of all concerned in the USA, Thailand, ASEAN, China, India, and Greater Asia.

For information related to doing business in Thailand please see: Legal.

 

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