FORMER Prime Minister Thaksin’s economic czar, Somkid Jatusripitak, has been recalled. His task — to change Thailand’s economic fundamentals. But will the Generals give him enough time?
MORE supply chains are moving from Southern China into Vietnam in a trend that seems likely to increase. The World Bank says Vietnam also stands to benefit from the Trans-Pacific Partnership TPP), which could add eight per cent to its GDP . . .
HOLDING the world’s fourth-largest reserves of iron ore, India wants to develop its domestic steel industry. But its continuing economic growth has made it a target for steelmakers wanting to dump surplus production as China’s expansion slows. Narenda Singh Tomar, India’s Minister for Steel and Mines, explains . . .
ASEAN member States now rank alongside China as the world’s leading destination for FDI as countries like Japan and South Korea hunt for growth. A new study identifies ASEAN as Australia’s third sphere of
future prosperity, after China and India . . .
WILL BEIJING punish Taiwan if it abandons the more ‘China-friendly’ Kuomintang in the coming Presidential election? Or will the Opposition DPP be able to manage the cross-strait relationship?
SRI LANKA is set to launch a global campaign to promote the quality and diversity of its premium export teas to a consumer market which is increasingly health-conscious and adopting tea as part of modern lifestyle . . .
GLOBALLY, currencies and interest rates have already moved to factor in the new reality in China, says Charles Dallara, who is acknowledged as one of the most astute and widely experienced ‘insiders’ of the world financial system. In this exclusive interview with ATI Magazine, Dallara says that, globally, currencies and interest rates have already moved to factor in the new reality in China. “Markets may over-react at times,” he observes, adding that, basically, the global economy is resilient . . .
THOSE TRADE WINDS have died, and Asian economies modelled on export-led growth are in a ‘very challenging’ position, says Joakim Reiter, Deputy Secretary-General of UNCTAD. Trading economies are now competing for the same markets, not selling to an expanding pie. Reiter worries about private debt in Asia, and fears for the future of poorer countries that squandered development opportunities during the resources boom – a boom he does not expect to be repeated . . .
FURTHER market corrections in China would cause a sharp drop in share values in both cities, says Coface economist Charlie Carre . . .
SIXTY PER CENT of the world’s young people live in Asia, where unemployment is already high and rising. In the poorer countries, one in four who should be enrolled in the lowest level of education are not enrolled. And while new jobs are emerging in the digital age, many youngsters do not have the digital skills required . . .
SRI LANKA is to appoint a global advertising agency to take its tourism story worldwide as new infrastructure comes on-stream and the Government prepares to unveil a raft of new incentives for both local and foreign investors.
But new casinos are not on the list . . .
THE IMF is urging countries to reform their energy policies. It says those with the top subsidies, in terms both of per cent of GDP and per capita, stand to gain the most . . .
THE ‘missing element’ in all discussions about regional trade agreements is the opinion or view of the private sector, says a trade specialist at the WTO. As a result, often there is no value to an SME in the deal . . .
THE NUMBER of trade disputes is growing, and as more countries knock at the door of the World Trade Organisation’s Dispute Settlement Body (DSB),
WTO Director-General Roberto Azevedo has promised to allocate more resources to work with the DSB’s legal team . . .
THAILAND is offering a raft of tax and other incentives for companies setting up Interna- tional Headquarters to service their subsidiaries in the region and beyond . . .