TAIPEI: Taiwan and China on Friday signed a deal paving the way for Taiwanese banks to take Chinese yuan deposits and make yuan loans, in the latest agreement to boost trade between the former arch-rivals. The memorandum of understanding outlines the new arrangement, known as direct yuan clearing, which is expected to come into force in 60 days, Taiwan’s central bank said…The deal will also allow Taiwanese companies to issue yuan bonds and sell yuan-denominated investment products on the island, Taiwan’s central bank said…

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It will be interesting to see whether the promulgation of the provisions of the Memorandum of Understanding noted above will effect the the economies of these two jurisdictions as it could be argued that these changes will foster greater synergy between these two markets which are both very strong in their own right.  This information is noted at the same time that there is speculation that the countries comprising the Association of Southeast Asian Nations (ASEAN) may be the destination for future growth and investment. To quote from the website of the Vancouver Sun, VancouverSun.com

A growing number of U.S. companies plan to shift some operations from China to Southeast Asia in the next two years…a survey by the American Chamber of Commerce in Singapore showed…According to AmCham Singapore, 92 percent of the executives surveyed said they were positive about investment opportunities in the Association of Southeast Asian Nations, or ASEAN – a regional grouping that comprises Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, Myanmar, Cambodia, Laos and Brunei. ”ASEAN is not only a vital U.S. trade and investment partner, it is a bright spot in the global economy,” said AmCham Vice President Tami Overby.

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Clearly it remains to be seen whether resources, financial or otherwise, will be shifted away from China in favor of ASEAN. In fact, it could be argued that there may simply be growing investment and positive economic activity in the region as a whole which would benefit both regions. In any case, notwithstanding a rather stagnant global economic environment, China and the Nations comprising ASEAN would seem clearly poised for growth in the future.

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Those seeking services such as notarization, Consular Reports of Birth Abroad, or US passport renewals are well advised to seek such services from the US Consular section of the US Embassy in Phnom Penh, Cambodia. In many cases it will likely be necessary to make an online appointment prior to arrival at the Post in order to ensure processing of a specific request for services.

In order to obtain a US visa for a foreign fiancee the American fiance is generally required to submit a petition to the United States Citizenship and Immigration Service (USCIS) prior to the case file being processed through the National Visa Center (NVC), assuming approval; and finally on to the US Embassy or US Consulate with appropriate jurisdiction. Those seeking an immigrant visa for a foreign spouse are also likely to be required to receive an approved USCIS petition prior to processing at the National Visa Center before eventual interview and processing at a US Embassy or US Consulate abroad.

In general, it has been this blogger’s experience that the non-immigrant visa categories for foreign loved ones, such as the K-1 visa or the K-3 visa are processed by the non-immigrant visa unit at the American post with appropriate Consular jurisdiction. Meanwhile, immigrant visa categories such as the CR-1 visa or the IR-1 visa are processed by an immigrant visa unit. That stated, some protocols may vary depending upon the unique circumstances of a particular Post.

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

Apple Inc’s chief operating officer Tim Cook discussed adopting Samsung’s AMOLED display technology for tablet PCs during his recent visit to South Korea, industry sources said…Tim Cook is not only the COO, but also acting CEO of Apple. During Cook’s trip last week, Apple seems to have offered Samsung an advance for the AMOLED displays, the source said…

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As technology continues to be a defining component of a more dynamic global economy there is hope that cooperation between American and Asian technology firms will result in further technological as well as economic advances. Concurrently, such cooperation is likely to also manifest itself in the form of better computing platforms for the general public.

It is interesting to note that while Northern Asia, especially Northeastern Asia has seen industrial advances the Southeast Asian region continues to show growth in the agricultural sector. This has arguably been the case in the Kingdom of Thailand for quite some time. However, there seems to be evidence to indicate that agricultural growth is expanding into the neighboring countries, such as Cambodia, which also happen to be members of the Association of Southeast Asian Nations (ASEAN). Most notably, it would appear that a company in the Kingdom of Thailand is poised to undertake a new venture in the Kingdom of Cambodia with the aim of increasing rice production therein. For further elucidation this blogger must quote directly from the official website of The Bangkok Post:

Asia Golden Rice Co, Thailand’s second-largest rice exporter, has mapped out a 1.5-billion-baht rice investment in Cambodia in a bid to expand regionally…The plan includes modern, fully equipped milling and processing plants with a capacity to process up to one million tonnes of rice per year, and is considered a milestone investment in rice industry of Cambodia, the world’s sixth largest rice exporter…

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The overall ramifications of this plan remain to be seen. That stated, there is certainly room for speculation that a venture such as the one described above could have positive benefits for ASEAN as well as Asia as a whole. Since many countries around the globe import rice from Southeast Asia one could surmise that increased production could drive down the cost of rice internationally and thereby benefit rice consumers around the world.

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Every now and then on the Laos hippy trail you spy a traveller wearing a T-shirt that reads “Been There Don Det”. Most people think it is yet another pun based on the ‘hilarities’ of the language barrier (see “Same Same But Different”) but actually it’s an inside joke for those who had ventured far enough south to visit a small island hidden in the mist of the Mekong River. South of the capital Vientiane, the Mekong breaks its banks creating an anarchic sprawl of islands called Si Phan Don, which translates to “4000 Islands”.

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On a related note, it also came to this blogger’s attention that the Association of Southeast Asian Nations (ASEAN) appear to have signed a memorandum of understanding with India in an effort to boost tourism in the Southern Asia region. For further elucidation it is necessary to quote directly from The Jakarta Post via the Asia News Network:

Members of the Association of Southeast Asian Nations (Asean) and India have agreed to promote cooperation in tourism to help boost travel between the subcontinent and the Southeast Asian region. A memorandum of understanding (MoU) on tourism cooperation was signed by Aseantourism ministers and their counterpart during Asean Tourism Forum in Manado, North Sulawesi, on Thursday…

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Tourism seems to have been a traditional source of revenue in the for both the Kingdom of Thailand and the Greater ASEAN region. Hopefully the signing of the memorandum noted above will provide economic benefits for both the ASEAN region as well as the Indian Sub-Continent. That stated, with the increasing velocity of economic expansion in Asia as a whole there is strong evidence to suggest that tourism may prove to be simply a gateway to further economic integration between all of the global economies. How these trends will play out in the future remains to be seen. However, the benefits of tourism could arguably be a true “win-win” situation for both the tourist as well as the host nation. ASEAN itself is a prime example of how tourism and increasing levels of tourists can lead to more robust levels of economic activity as a whole.

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

For more general insights regarding visa issues in Thailand please see: Thai Visa.

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There are many who feel that the economies which comprise ASEAN (Association of Southeast Asian Nations: Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam) are likely to continue to show signs of economic integration along with the concomitant economic benefits that come therewith. Hopefully such possible circumstances will accrue to the benefit of all concerned.

The economies in the ASEAN jurisdictions are not the only foreseeable beneficiaries of possible future economic luster. In fact, China appears to be viewed by many as a possible economic powerhouse in coming decades. This is not to say that this will accrue to the disadvantage of other economies since global economics is not always a “zero sum” game. The growth of a sustainable middle class in any of the Asian jurisdictions is likely to create tangible economic rewards on a local, regional, and global scale. To provide further insight into the encouragement of Chinese small business it is necessary to quote directly from the official website of China Daily, ChinaDaily.com.cn:

Chinese Premier Wen Jiabao has urged stronger financial support for China’s smallbusinesses and better regulation of private lending activities to prevent risks of capital shortage from spreading.

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Clearly tangible benefits can be garnered by both the Chinese and ASEAN economies through bi-lateral relations, but when viewing this in conjunction with the fact that Australia and the US maintain a strong economic relationship with ASEAN and her component jurisdictions there is at least an inference which can be made to support the conclusion that there is likely to be dynamic economics at play in Asia’s future. Meanwhile, this economic dynamism can have ancillary benefits for the global economy.

How future economic events will transpire remains to be seen, but there are strong indicators that all of the economies mentioned above have bright futures indeed.

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

Free-trade partners of Asean, in addition to the United States and Russia, will join Asean economic ministers for a meeting in Manado, Indonesia, next week with the aim of tightening economic integration. Indonesia will host the Asean Economic Ministers (AEM) meeting from August 9-13. Yanyong Phuangrach, permanent secretary at the Commerce Ministry, who will lead the Thai delegation to the meeting, said the main agenda was to forge closer cooperation among Asean member states and trading partners, mainly with FTA partners and the two economic giants – the US and Russia…

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In recent months there have been many positive developments in the ASEAN region as discussions pertaining to a possible unified ASEAN visa have been broached. Meanwhile, discussions pertaining to the South China Sea appear to have lessened some of the tensions between ASEAN members nations and China. However, as of yet, a final framework for dealing with the South China Sea has yet to be developed. As the ASEAN region continues to show further economic potential it stands to reason that geo-politically dominant economies will show increasing interest in the Southeast Asian region.

In news specifically related to the Thai Real Estate and Property markets, it recently came to this blogger’s attention that Singaporean and international real estate developers have noted their optimism regarding the Thai property market. In order to provide further elucidation regarding these developments this blogger is compelled to quote directly from the PropertyShowrooms.com website:

A Singapore property development company has decided to invest in a series of condominium projects in Thailand over the coming year. Speaking to Property Report, business development manager at Dalvey Developments Noel Goh described the Thai real estate sector as “a very attractive market with high growth potential”. “Moreover, property prices remain low when compared to neighbouring countries,” Mr Goh added…According to one Asian real estate expert, buyers from Hong Kong are increasingly being drawn to high-end properties in the Thai capital. Executive director for investment and project marketing at CB Richard Ellis Rebecca Shum told the Bangkok Post that the city is a “top-two destination for lifestyle” from the point of view of Hong Kong investors. She added that a rise in optimism about Thailand’s political and economic conditions is helping boost the luxury property market in the nation.

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For many, the purchase of property in Thailand can be a cumbersome and somewhat confusing endeavor as Thai law on the subject has been described as rather complex and, in some cases, byzantine. This is especially true in cases involving foreigners wishing to purchase land in Thailand since there is virtually a de facto prohibition on foreign nationals purchasing Thai land. That stated, such a prohibition does not exist in the context of a Thai lease, Thai usufruct, or Thai condominium. In fact, pursuant to the Thailand Condominium Act, foreign nationals in Thailand may be permitted to purchase a Thai Condo so long as that proposed real estate holding comports with the relevant provisions of the Act. For this reason, and many more, some opt to retain the assistance of an attorney in Thailand to assist in conducting due diligence and conveyancing matters pertaining to Thai property.

For information related to legal services in the Kingdom of Thailand please see: Legal.

WASHINGTON (AP) — A federal judge has ruled that former Defense Secretary Donald H. Rumsfeld can be sued personally for damages by a former U.S. military contractor who says he was tortured during a nine-month imprisonment in Iraq. The lawsuit lays out a dramatic tale of the disappearance of the then-civilian contractor, an Army veteran in his 50s whose identity is being withheld from court filings for fear of retaliation. Attorneys for the man, who speaks five languages and worked as a translator for Marines collecting intelligence in Iraq, say he was preparing to come home to the United States on annual leave when he was abducted by the U.S. military and held without justification while his family knew nothing about his whereabouts or even whether he was still alive. The government says he was suspected of helping pass classified information to the enemy and helping anti-coalition forces get into Iraq. But he was never charged with a crime, and he says he never broke the law and was risking his life to help his country…

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The issues in the case noted above are likely to cause tension in a political context as matters pertaining to national defense can be the source of strong opinions. That stated, it would appear that the Court sees the case as being meritorious enough to warrant allowance of this personal lawsuit. That stated, until such time as a final ruling on the matter has been handed down all parties are viewed as innocent of any charge until culpability is proven. Hopefully justice will prevail.

Pursuant to the United States Constitution and the notions of due process of law emanating therefrom; individuals, particularly American Citizens, must be accorded certain procedural formalities prior to having their liberties abridged. For example, in order to bring a person under the criminal jurisdiction of an American Court of competent jurisdiction it is generally required, absent exigent circumstances, that a valid arrest warrant be issued. In some cases, US Courts opt to issue a bench warrant whereby a judge issues a warrant directly from the bench. Meanwhile, in situations where an individual has fled a particular jurisdiction there are instances where a fugitive warrant is issued. The procedure for bringing a fugitive from one jurisdiction to another is generally referred to as extradition.

Meanwhile, in matters pertaining to the region of the Association of Southeast Asian Nations (ASEAN); it recently came to this blogger’s attention that the former King of Cambodia is traveling to Beijing, China. In order to provide further insight into these developments it is necessary to quote directly from the website of The Straits Times, StraitsTimes.com:

PHNOM PENH – CAMBODIA’S ailing former king Norodom Sihanouk left his country for Beijing on Wednesday to undergo medical tests, officials said. The 88-year-old monarch, who remains a revered figure in Cambodia, was given a red-carpet sendoff by his son King Norodom Sihamoni, Prime Minister Hun Sen and other senior government officials at Phnom Penh airport…’He goes back this time to have his health checked to stay healthy and live longer among his people,’ Prince Sisowath Sirirath, second deputy president of the royalist Funcinpec party, told reporters. He said he didn’t know when Sihanouk would next return…

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Former King Norodom Sihanouk remains a respected and highly venerated figure in the Kingdom of Cambodia notwithstanding the fact that his son King Norodom Sihamoni has taken up the responsibilities of Kingship. Hopefully, the former King’s upcoming health check up will result in benefits to his health as it is clear that the hopes and prayers of his people are with him.

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

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…

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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.

BEIJING — China raised a key interest rate Wednesday for a third time this year as it tries to cool surging inflation. The benchmark rate for one-year loans will be raised 0.25 percentage points to 6.56%, effective Thursday, the central bank announced. The rate paid on deposits will rise a similar margin to 3.5%. Inflation hit a 34-month high of 5.5% in May and is believed to have risen in June even as an overheated economy cools gradually under the pressure of investment curbs and other controls…

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In recent months it would seem as though China has had some difficulty controlling inflation. It would appear that the decision noted above has been made in an attempt to reign in rising inflation. In a previous posting on this blog it was noted that economic officials in the Southeast Asian nations of Laos and Cambodia have commented upon the likelihood that inflation would increase in those countries moving forward. Clearly, there exists an overall trend of inflation around the globe, but it remains to be seen whether governmental efforts will be successful in mitigating the ramifications of this economic force.

In related economic news, it appears that officials of the Association of Southeast Asian Nations (ASEAN) are poised to meet with business leaders from the nation of Japan. To shed light upon these unfolding events it may be prudent to quote directly from Yahoo News Singapore at Yahoo.com:

KUALA LUMPUR, July 5 (Bernama) — The Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA) will hold its fourth annual dialogue with the Secretary-General of ASEAN Secretariat, Dr Surin Pitsuwan, here on Friday. During the dialogue, they will exchange views on tackling business issues associated with Asean”s on-going economic integration, said Takehide Teranishi…

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In a previous posting on this blog it was noted that the ASEAN community had sent a goodwill mission to Japan in response to events which transpired as a result of the tragic Earthquake in March of this year. As Japan remains a substantial economic force in both an Asian and global context it remains an important trading center. Therefore, other countries such as the United States, those within the ASEAN region (Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Malaysia, and Vietnam), and even the so-called BRICS countries (Brazil, Russia, India, China, and South Africa) seek to maintain strong trade relations with Japan. Hopefully economic benefits derived from the discussions noted above will accrue to the economies of all concerned.

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

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…

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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.