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It recently came to this blogger’s attention that an official representative from the Republic of Korea appears to have been appointed Ambassador to the Association of Southeast Asian Nations (ASEAN). In order to provide further information on this topic it is necessary to quote directly from the official website of The Korea Times, KoreaTimes.co.kr:

Baek Seong-taek, a career diplomat who had served in various capacities at overseas missions including Japan, Vietnam and Malaysia, was appointed this week as Seoul’s first envoy dedicated to ASEAN. With Baek’s appointment, Korea became the fourth non-ASEAN nation to name an ambassador to the regional bloc and will launch a permanent mission for the ASEAN in Jakarta next month to redouble engagement on a wide range of issues such as trade, regional security, disaster management and human rights…Baek said he expects ASEAN to play a “balancing role” in Asia, where a power shift is under way amid the rise of China and the decline of Japanese influence, with the U.S. making a so-called “pivot” to the region…

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

Although Korea is not the first nation to send an envoy to ASEAN, these developments show an increasing interest in ASEAN’s affairs from the international community. As ASEAN moves closer to being a fully integrated economic community it stands to reason that other nations will desire more interaction with this Southeast Asian organization.

On a related note, it would appear that the Asia-Pacific region is becoming an increasingly popular location among the world’s wealthy, for further insight this blogger must quote from the official website of Bloomberg, Bloomberg.com:

More people in Asia became millionaires last year as the region’s economic growth and entrepreneurship helped generate affluence, according to a report by RBC Wealth Management and Capgemini SA. The number of individuals in Asia-Pacific with investable assets of $1 million to $5 million climbed 1.9 percent to 3.08 million in 2011, according to the report released in Singapore and Hong Kong today. Their total wealth increased 1.5 percent…The World Wealth Report showed in June that the number of individuals in Asia-Pacific with at least $1 million in investable assets jumped 1.6 percent last year to 3.37 million, helped by increases in China, Japan, Thailand, Malaysia and Indonesia. So-called high net-worth individuals in North America dropped 1.1 percent to 3.35 million.

Again, readers are asked to click upon the hyperlinks above to read this article in full.

Based upon the information contained in the article above it would appear that the Asia-Pacific region is now home to the largest number of millionaires in the world. However, much of these individuals’ capital would appear to be located in a few key jurisdictions in Asia most notably Hong Kong and Singapore. One could speculate that future growth may not only increase affluence in places such as Singapore and Hong Kong, but more broadly over the ASEAN and Asia-Pacific regions, respectively.

Tags: Ambassador to ASEAN, ASEAN, ASEAN Economic Community, ASEAN Embassy, Asia-Pacific, ASsociation of Southeast ASian Nations, Baek Seong-taek, China, Hong Kong, Indonesia, Jakarta, Japan, Korea, Malaysia, Republic of Korea, Seoul, Singapore, South Korea, Thailand, Vietnam
Posted in ASEAN Business, China Business, Indonesia Business, Malaysia Business, News, Thailand Business | No Comments »

It recently came to this blogger’s attention that the Union of Myanmar (sometimes colloquially referred to as Burma) may soon see some new direct flights between Yangon (Rangoon) and other cities in Southern Asia, In order to provide further insight into these developments it might be prudent to quote directly from the official website of the Peoples’ Daily Online, PeopleDaily.com.cn:

Myanmar Airways International (MAI) will launch a direct flight service to link Yangon with Jakarta and Bali in November this year, the local Weekly Eleven reported Monday. Aimed at boosting bilateral trade between the two countries, the planned direct flight is prompted by the Myanmar President U Thein Sein’s recent visit to Indonesia in May this year. As part of the cooperation between the two countries in the tourism sector and for both having historic cultural heritage, beautiful scenery and beaches, Thein Sein said plan is also underway to launch Yangon-Singapore-Jakarta flights which will be finalized at the second meeting of the joint commission for bilateral cooperation to be held in Myanmar at this year-end…[sic]

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

As a member of the ten member Association of Southeast Asian Nations (ASEAN) Myanmar seems to have become increasingly integrated into the broader Southeast Asian economy. This current situation stands in rather stark contrast to that nation’s position in the relatively recent past. As mundane as airline routes may seem to the casual reader at first glance it should be noted that such events can have tremendous implications for business travelers and can also result in wholly new business opportunities as it becomes increasing less difficult to travel to a particular destination. All of the ramifications of this announcement remain to be seen, but it seems likely that there will be positive economic benefits for all of the jurisdictions concerned.

Meanwhile, in news pertaining to the United States and the United Kingdom it recently came to this blogger’s attention that London is home to a new statue honoring a former President of the United States of America. In order to shed further light upon this situation it may be best to quote directly from an article written by Ravi Somaiya and posted on the official website of The New York Times, NYTimes.com:

LONDON — Passers-by at the American Embassy, in the heart of London’s upscale Mayfair district, were greeted Monday morning by the disembodied voice of Ronald Reagan drifting through the air from large speakers — a prelude to the unveiling of a $1 million bronze statue of the former president here to commemorate the 100th anniversary of his birth…The statue of a smiling Reagan, dressed in a crisp suit, was paid for by the Ronald Reagan Presidential Foundation as part of a worldwide effort to promote his legacy, according to the organization’s executive director. Similar events have been held in the last few days in Poland, the Czech Republic and Hungary…

This blogger asks readers to click on the relevant hyperlinks above in order to read this interesting article in full.

It would appear that many around the globe feel as though President Reagan was deserving of an enduring tribute for his efforts to further the cause of international freedom. Hopefully the statue noted above will act as a long term reminder of the need to be ever vigilante in the struggle to maintain the principles of liberty and justice.

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Tags: American Embassy, American Embassy Britain, American Embassy London, American Embassy UK, ASEAN, ASsociation of Southeast ASian Nations, Bali, Czech Republic, Hungary, Indonesia, Jakarta, Myanmar Airways International, Myanmar President U Thein Sein, Poland, President Ronald Reagan, Rangoon, Ronald Reagan, Ronald Reagan Presidential Foundation, Singapore, Southeast Asia, Southern Asia, US Embassy, US Embassy Great Britain, Us Embassy London, US Embassy United Kingdom, Yangon, Yangon-Singapore-Jakarta flights
Posted in American Business, ASEAN Business, Myanmar (Burma) Business, US Business | No Comments »

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.

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Tags: ASEAN, ASEAN Business News, ASEAN news, Asia-Pacific, Asia-Pacific region, Asian-Pacific affairs, ASsociation of Southeast ASian Nations, Association of Southeast Asian Nations News, China, East Asia Summit, Euro, Europe, government bonds, Hungarian Prime Minister Viktor Orban, Hungary, Indonesia, Jakarta, sovereign debt crisis, State of Hawaii, The Hawaii consultations, U.S. President Barack Obama, UK
Posted in ASEAN Business, China Business, News | No Comments »