KUALA LUMPUR (Xinhua) – As global stock markets tumbled over the week in response to the US credit woes and the Europe debt crisis, Malaysia’s Securities Commission chairman, Zarinah Anwar holds a positive view that markets in Southeast Asia is strong enough to fend off the crisis…”Domestic demand is still strong and ASEAN (Association of Southeast Asian Nation) has to continue to look at its neighbours to pick up selective demands that may arise as a result of the economic woes in our traditional export markets,” she aded. ASEAN’s effort towards an integrated regional economy, with 2015 as a deadline, also contributed to ASEAN’s sound environment…Countries like Malaysia, Singapore, Thailand and the Philippines are in the process of developing a cross-trading arrangement linking their trading system, giving investors direct access to other markets. Currently, Bursa Malaysia, Singapore Stock Exchange, Vietnam’s Hanoi Stock Exchange and Hochiminh Stock Exchange, the Indonesia Stock Exchange, the Philippines Stock Exchange Inc have already linked up on a website labelled as “ASEAN exchanges” which provides investors with access to check the top stocks in the region…[sic]

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

There has been a great deal of discussion surrounding the future of the economies in the jurisdictions comprising the Association of Southeast Asian Nations (ASEAN: Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam). In fact, there has even been discussion about a possibly unified ASEAN visa similar to that utilized by some of the members of Schengen area in Europe. As of yet, such discussion has yet to yield tangible results, but there are those who hope that further discourse on the topic may result in a unified visa of some kind coming into being. Hopefully, ASEAN continues along the path of economic growth to the benefit of all concerned.

In news pertaining to the continuing struggle for LGBT Equality it recently came to this blogger’s attention that the American government appears to have noted the un-Constitutionality of certain provisions of the so-called “Defense of Marriage Act” (DOMA) in the US Courts. In order to provide further insight it is necessary to quote directly from the website of Metro Weekly, MetroWeekly.com:

Back on July 1, the Department of Justice took a big step in defining what its Feb. 23 decisionthat the federal definition of marriage found in Section 3 of the Defense of Marriage Act is unconstitutional would look like. In Karen Golinski’s case seeking equal health benefits for her wife, DOJ argued that the case should not be tossed out of court and should be allowed to proceed. On Aug. 19, DOJ went a step further, telling a judge in the Southern District of New York that Edith Windsor — who is seeking a refund of the more than $350,000 estate tax bill that she had to pay because her marriage to her deceased wife, Thea Spyer, was not recognized by the federal government — should be granted that refund because DOMA’s federal definition of marriage is unconstitutional…This is the first time the government stated affirmatively in court that a lawsuit requiring that Section 3 of DOMA be struck down as unconstitutional should succeed…[sic]

This blogger asks readers to click upon the hyperlinks above to learn more about these developments in detail.

For those unfamiliar with the current immigration implications of DOMA it should be noted that said legislation precludes accordance of US visa benefits such as the K-1 visa, the CR-1 visa, or the IR-1 visa to same sex couples even where the couple has entered into a same sex marriage in a American State jurisdiction which legalizes such unions. Currently, proposed legislation such as Representative Jerrold Nadler‘s Uniting American Families Act and the Respect for Marriage Act would rectify this current discrimination to one degree or another, but the ultimate fate of these bills remains to be seen.

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

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.