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Posts Tagged ‘sovereign debt crisis’

18th August 2011

It recently came to this blogger’s attention that the United States Customs and Border Protection Service (USCBP) is apparently poised to begin issuing new identification cards to participants in the Global Entry Program. In order to provide further insight into these developments it is necessary to quote directly from the official website of USCBP, CBP.gov:

Washington – U.S. Customs and Border Protection (CBP) today announced that Global Entry members will now be issued a Global Entry version of the SENTRI card which allows expedited entry into the U.S. from Canada and Mexico using the NEXUS, SENTRI and Ready Lanes at land ports of entry. The new card operates as a SENTRI card for Global Entry members. The Global Entry card is a Western Hemisphere Travel Initiative (WHTI)-compliant, radio frequency identification (RFID) technology-enabled document that may be used by U.S. citizens when entering the U.S. through a land or sea port of entry from Canada, Mexico or the Caribbean…

Readers are strongly encouraged to click upon the aforementioned hyperlinks noted above to read this information in detail.

Frequent readers may recall that the Global Entry Program was purportedly created in an effort to streamline the process of entering the United States for American Citizens. How the creation of new identity cards will facilitate this program remains to be seen, but hopefully such developments will be beneficial for all concerned.

In news pertaining to the economies which comprise the Association of Southeast Asian Nations (ASEAN: Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam), it recently came to this blogger’s attention that some commentators are noting positive economic developments in the region. To quote directly from the Money Control website, MoneyControl.com:

ASEAN economy has proven itself to be resilient, but there are lingering challenges and risks, including the sovereign debt crisis and fiscal problems in some developed markets, rising food and commodity prices, and continued financial market stresses…According to the ASEAN secretariat’s press release received yesterday, ASEAN’s recovery as a whole has matured as both exports and domestic demand fueled growth to expand by 7.5% last year. Intra-regional trade and investment flows also showed an upward momentum and are likely to support domestic growth this year, which is projected between 5.7% and 6.4%. ASEAN`s merchandise trade grew at 32.9% last year, as trade value jumped from USD 1.54 trillion in 2009 to USD 2.04 trillion last year, after the 19% decline in 2009,” according to ASEAN`s high ranking officials as quoted by the secretariat. As an attractive foreign direct investment (FDI) destination, ASEAN has maintained its allure…

The administration of this blog recommends that readers click upon the relevant hyperlinks noted above to read this article in detail.

As ASEAN jurisdictions continue to be “alluring” to foreign investors it stands to reason that further economic growth can be expected in the future. That stated, as ASEAN has a unique Constitution in much the same way that each of her component jurisdictions have unique Constitutions one can easily infer that the trajectory and complexion of the economic growth and innovation in the coming years may be quite unlike anything seen in recent memory. For instance, the ramifications of a unified ASEAN visa much akin to the Schengen visa scheme in the European Community could be economically explosive while such a visa scheme could be custom tailored to the unique needs and desires of both ASEAN as a whole and her member nations.

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

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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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