Showing posts with label Links. Show all posts
Showing posts with label Links. Show all posts

Jan 1, 2013

China - Facebook links to Chinese businesses

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Facebook Inc, the world's biggest social networking site, has teamed up with a Chinese partner on real-time bidding (RTB) for advertising on its site, a technology used by Google Inc and other Internet companies to target advertisements to consumers more effectively.

The move will enable the US-based company to reach more Chinese advertisers who want to place more targeted advertisements on Facebook even though its service is not accessible in China currently.

Facebook is cooperating with Beijing PinYou Interactive Information Technology Co (iPinYou), a Chinese advertisement broker that places advertisers' bids on RTB platforms. It is matching the system of its RTB service, Facebook Exchange, with iPinYou's, said Huang Xiaonan, chief executive officer of the Beijing-based company.

Facebook Exchange enables advertisers to reach specific types of consumers based on their browsing history with the usage cookies on consumers' computers. For example, an Internet user who visited Web pages related to trips to Paris may see advertisements of Paris' hotels and flights later on Facebook.

"There is demand from Chinese advertisers to reach out to US consumers and this is the way how Facebook can cash in on the Chinese market," said Huang. The chief technology officer of iPinYou had in October along with a team of Chinese advertisers held talks with Facebook officials on possible avenues for cooperation.

An e-mail sent to Facebook for more information went unanswered.

There are a large number of Chinese exporters that want to reach international customers, and most of them now use Google to place advertisements, said Hong Bo, a Beijing-based IT analyst and founder of consultancy firm IT5G.

"The most widely-used way for these exporters is to buy keywords on Google because keyword searching is the most directly linked measure of consumers' willingness to buy," he said, adding that Facebook is exploring ways to improve the effectiveness of social advertisements.

Facebook launched its RTB service in the US and Europe in September, a move to make it easier for users to focus on advertisements relevant to them, compared with traditional display advertisements.

Google, which remains the largest player in the online advertising sector in the United States, has a similar service called DoubleClick Ad Exchange. Amazon.com Inc, US biggest online retailer, has also launched its own RTB services, says a report in Adweek earlier this month.

Huang says that the revenue earned by Facebook from traditional display advertisements, measured by cost per thousand price, is 5 to 10 times less than vertical websites. She adds that it is also the reason why the US-based social networking company launched Facebook Exchange to improve the relevance of its advertising.

An increasingly large proportion of display advertisement sales will be generated by the RTB technology. RTB will account for 27 per cent, or about US$5.08 billion, of the US$18.9 billion marketers are expected to spend on online display advertisement in 2015 in the United States, according to market research company IDC.

RTB generated sales of US$1.07 billion last year, accounting for 9.8 per cent of total display sales in the US.

Figures on RTB sales in China are not available, as the technology is still not widely used in the country.

"Those who want to try RTB advertising first on Facebook are exporters and travel companies," said Huang, adding that some of the company's corporate customers have shown willingness to try out Facebook.

Facebook, which had 1 billion monthly active users by September 30, earned US$3.15 billion from advertising last year. However, its share prices have tumbled as investors' think it is not generating enough revenues despite the huge user numbers.

Carlos Kirjner, an analyst with Bernstein Research, estimated that Facebook Exchange is on course to generate annual revenues of US$1 billion. He also estimates that the service could take up to one third to half of the whole market for advertising generated by RTB.

Facebook Chief Operating Officer Sheryl Sandberg earlier told investors that she believed the global RTB market was somewhere in the vicinity of US$2 billion.

In June, Facebook and US researcher ComScore Inc said in a joint report that advertisements on social networking sites encourage users to buy products from brick-and-mortar stores as well as online platforms.

However, in a separate poll by Reuters and Ipsos, results showed that just one in five people on Facebook have bought products because of the advertising or comments they saw on the website.

Other than Facebook, iPinYou has already connected with the RTB platforms of Alibaba Group Holding Ltd, Tencent Holdings Ltd, and 14 Chinese online video companies, Huang said. She added that with the technology, the cost for an online video provider to get a new customer was just half of the traditional way.

IPinYou has about 100 customers, most of whom are in industries like e-commerce, finance, travel, car, and fast moving consuming goods.

Chen Limin


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Nov 30, 2012

Malaysia - FMM: Local firms should look at developing stronger Asean trade links

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PETALING JAYA: Opportunities in Asean trade abound and should be the focus of local exporters.

They should look at developing stronger Asean trade links as the region continued to grow, said Federation of Malaysian Manufacturers (FMM) president Tan Sri Yong Poh Kon.

He said the global sentiments were largely affected by the persistent negative impact from Europe while China's growth numbers did not inspire.

He urged manufacturers to be less reliant on traditional export markets and look at the new countries to enter.

“The United States used to be our largest export destination but now, it is Asean,” he told reporters after FMM's 44th AGM here yesterday.

Yong believed that Malaysian manufacturers should push for better links with the Asean neighbours.

“We should not only export our manufacturing products but services too, for example, those who run architect or legal firms should begin their practices in other Asean countries.”

According to data collected by FMM and the Malaysian Institute of Economic Research Business Conditions Survey going forward, the Business Conditions Index was lower at 88.9 points compared to 96.8 points six months ago, with 100 points being the growth-neutral threshold level.

“Judging from the response, they don't seem to be as gungho as before about their business outlook currently and for the first half of next year,” he said.

The survey recorded 101.1 points for the outlook on the next six months, 19.1 points down from the 120.2 points in May. The expected local and export sales indices went down as well.

The index was reflective of the latest JPMorgan Global Manufacturing PMI report, stating that global manufacturing contracted for a fifth consecutive month in October.

On the local currency, manufacturers were largely comfortable with the current strength of the ringgit.

“They felt that the current level is just right. It is not volatile which is good for exporters,” he said, adding: “If the ringgit strengthened too fast, it will make them less competitiveness than other countries, hence affecting their export proceeds.”

On the goods and services tax the survey found that only 4.7% of the respondents indicated they were set and ready for the implementation and 6.7% are in the upgrading process of their accounting software.

“I don't think most of them will invest in computer system upgrades yet because it is still not a definitive policy,” Yong said.



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Oct 27, 2012

Vietnam - Schools fined for claiming foreign links

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VietNamNet Bridge – Several schools offering courses illegally affiliated with foreign education institutions have been fined yesterday, Oct 22, according to Ministry of Education and Training.

The schools were also given a deadline of 10 days to stop offering and running courses affiliated with foreign institutions that did not have the proper licences.

Deputy chief inspector of the ministry Pham Ngoc Truc said the fines for the schools, mostly operating in HCM City, were between VND7.5-22.5 million (US$357-$1,071).

The Oriental Research Development Institute, Institute of Financial Administration and Sai Gon University were slapped with administrative fines for illegally running post-graduate affiliation programmes with the USA's Preston University, Australia's Ballarat University and Switzerland's University of Business and International Studies respectively.

In addition, foreign-invested education institutes Sibme International Education, ERC Institute Viet Nam and Melior Viet Nam were found to be illegally holding courses in the fields of business management, information technology and hotel management in Viet Nam, promising students diplomas and bachelor degrees.

SARA Ha Noi Joint-stock Company received the highest fine of VND22.5 million ($1,071) for illegally offering MA programmes without a licence and recruiting students for courses illegal affiliated with foreign institutes.

Truc said all of these educational institutions also must be responsible for harming their students.

However, experts from the education sector raised concerns over the limited impact of such small fines.

Pham Le Hai Anh, a teacher at Ha Noi's foreign language university, said the fines were small when compared to the huge profits gained from each student who has to pay at least $5,000 a term.

Anh said she had been a victim of one of these programmes affiliated with foreign institutions. Anh said she had spent two and a half years and more than $25,000 in the hope of getting an Australia-based university's MA degree.

Nguyen Thanh Phat, an officer at the ministry, shared the same idea and said these illegal programs have become popular in the recent years and many exploited legal loopholes.

SIBME, ERC Viet Nam and Melior Viet Nam have been fined for violations in the past.

In June, seven other educational institutions in co-operation with Australian and French schools were found to be offering degrees without authorisation. Thousands of students have been affected by these wrong doings.

Truc said the level of punishment for these violations was based on the Government's current regulations on administrative punishment in the field of education.

A decree regulating criteria for courses affiliated with foreign schools and foreign-invested educational institutions will come into force in the middle of next month to tighten management of these activities.

However, the decree still fails to set out specific punishment levels in this area. Experts have called on stricter management methods to prevent future violations.

VietNamNet/VNS


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Jun 30, 2012

Myanmar - US-Myanmar eye military links

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CHIANG MAI - When United States Secretary of Defense Leon Panetta signaled at a recent regional defense confab in Singapore that political reforms underway in Myanmar could pave the way for bilateral military-to-military engagement, it represented a possible strategic turning point for the long-isolated, historically military-run nation.

While the prospect of Washington engaging a rights-abusing military is not unprecedented, any such move will be highly scrutinized and closely watched given that until 2011, hard-line soldiers had governed the country with an iron-fist for nearly five consecutive decades. Many of the previous ruling junta's top soldiers are in positions of power in reformist President Thein Sein's quasi-civilian administration.

Military-to-military ties between the US and Myanmar were first downgraded in 1988, in response to soldiers killing thousands of pro-democracy demonstrators. Relations were completely severed by the mid-1990s and further obstructed by sanctions imposed by both the Bill Clinton and George W Bush administrations in punitive response to the regime's persistently poor rights record.

The script has flipped since Thein Sein began to implement an ambitious political reform program, highlighted by the release of hundreds of political prisoners, an easing of press censorship, and allowances for pro-democracy icon and former political prisoner Aung San Suu Kyi and her National League for Democracy (NLD) party to take seats in the country's partially elected new parliament.

The US has responded by rolling back restrictions, including a long-held ban against American companies from investing in the country. While various other economic and financial sanctions remain in place, including an embargo on arms sales, Panetta said on June 2 that the US would consider opening the way to strategic engagement if Myanmar stays its current reform course.

Panetta's broad overture comes at a time of transition for both militaries. While the US has announced a new global defense strategy, the so-called "pivot", emphasizing closer strategic ties with allies and partners in the Asia-Pacific region, Myanmar's military has signaled it is striving to develop a more professional role after being stripped of many of its past political functions.

Myanmar Defense Minister Lieutenant General Hla Min said at the same defense conference where Panetta spoke that the military would gradually "surrender" its allocated seats in parliament, which currently consists of 25% of both legislatures. He said that the army, also known as the Tatmadaw, is "100% in support" of Thein Sein's reform agenda.

That would necessarily entail a complicated constitutional reform process, which the military has the power to block through its parliamentary numbers. However, Soe Win, the military's second-highest ranking officer, suggested the military may be amenable to amending certain clauses of the charter after signing a ceasefire with the rebel Shan State Army-South on May 19.

Observers say there are other tentative signs that soldiers, especially among the lower ranks, are already shifting away from governance roles and towards more straightforward security and defense functions.

"Hla Min's support for reforms and his suggestion that the military could reduce its political role over time may have opened the door a crack to begin contacts with the US military," wrote Murray Hiebert, senior fellow at the Washington-based Center for Strategic and International Studies.

"Myanmar's armed forces, which have long depended on China for most of their training and weaponry, are reportedly looking to the United States and other Western powers as well as Asian powers to help promote their evolution toward a more professional force under civilian control. Washington should carefully test that hypothesis."

According to Nyo Ohn Myint, a representative of the National League for Democracy Liberated Area who has recently worked closely with Thein Sein's government to aid negotiations with armed rebel groups, the US could play a key role in this evolution.

"The US government should look at how to improve [Myanmar] army leaders' mentality. Greater engagement and opening of its military institutions will bring benefits to all," he told Asia Times Online.

Influential US lobbyists, including those who have steadily campaigned against economic sanctions, have recently echoed those calls. Stanley Weiss, founder of the Washington-based Business Executives for National Security, a business lobby group, believes recently ramped up engagement between the US and Myanmar should include security matters.

"We should improve our defense relationship with Myanmar in every way possible," he said, claiming that decades of diplomatic isolation has distanced the US from a whole generation of military officers. He believes that re-engagement would give them "a taste of what civilized society looks like".

Until now, Myanmar's benighted military rulers have had little incentive to cooperate in Western-led multilateral initiatives, including on matters related to human rights.

"The Tatmadaw has always had its own concepts, and has stood on its own two feet," explained Nyo Ohn Myint. "The more it has been isolated, the more difficult it has become to deal with… Tatmadaw leaders have had no alternative but to deal with China, India, and Pakistan. Distrust with Western countries has created more problems domestically."

While the causes cannot be blamed simply on isolation from the West, there is little doubt that the Tatmadaw's archaic approaches, not just to governance but also to counter-insurgency (COIN) warfare, have been the most damaging "domestic problems" in Myanmar's recent history.

Certain ethnic rebel groups have fought against the government for decades, alternately for independence and greater degrees of autonomy. The ongoing conflict with Kachin rebels in the country's northern region has been attended by new accounts of Tatmadaw rights abuses targeting civilian populations, according to reports by Human Rights Watch, a US-based rights lobby.

Significantly, there have been instances during the ongoing hostilities where commanding officers have ignored Thein Sein's commands to stop offensive operations. As COIN strategies against a variety of insurgent groups have focused on the devastation of entire communities thought to be supporting rebels, millions of civilians have been displaced both along the country's borders, entrenching divisions along geographical and ethnic lines.

Meanwhile, a system where senior generals reward loyal commanding officers with economic concessions in those areas has meant that resource extraction and development has persistently suited the interests of the Tatmadaw and neglected civilians of basic necessities such as electricity and running water.

Dysfunction pervades Myanmar's armed forces from top to bottom, and given its rigid obedience to hierarchies based on seniority, change will likely only come from the top-down. Whether the US would be able to influence such change through training and other joint exercises is an open question.

CSIS suggests engagement could begin through joint cooperation to search for several hundred US pilots shot down during World War II over northern Myanmar. The influential Washington think tank also suggested that Myanmar could be invited as an observer at the annual US-led Cobra Gold multilateral exercises, the largest in Asia, held every year in neighboring Thailand, as well as the US Navy's Pacific Partnership program or the Air Force's Pacific Angels operations, annual assistance exercises aimed at building ties with host countries.

"The United States could also send a military attache to Myanmar with the task of regularly engaging the country's military, mapping opportunities to target training efforts to key leaders, and in general figuring out who is who," wrote CSIS's Hiebert. "Among other things, the officer could put together an alumni group of Myanmar officers who have studied in the United States. That group would include some interesting and influential leaders such as the minister of social welfare, the agriculture minister, and the chairman of the investment board."

According to a former US Marine Corps Infantry Captain with bilateral training and advisory experience in Thailand, Iraq and Afghanistan who spoke to ATol on the condition of anonymity, the US would need to launch a comprehensive engagement program to have a meaningful impact. Anything less, he argues, would struggle to overcome entrenched inertia among the leadership and the myriad of political and cultural factors associated with the abusive status quo.

"[Military cooperation] would only play a small part in a much larger picture and so relationships like this must be sustained over years," said the US military trainer. "Much of the [military's mentality] has to do with the upper leadership, who often are not engaged in the day-to-day exercises. Their attitudes will be trickier to change."

He suggests that while joint training can slowly foster modern military concepts, including the notion that a soldier should serve the nation and its people, systemic change would involve decades of persistent engagement and would ultimately be more reliant on initiatives in sectors outside of the military.

So how likely is the initiation of a US-Myanmar military-to-military exchange program? As outlined by Panetta, the US's new defense strategy focuses on developing stronger ties with Asia Pacific militaries in order to establish new shared "rules" and "modernize and strengthen alliances in the region".

While the US is being forced by economic reasons to cut military spending, military planners have also learned from the recent campaigns in Iraq and Afghanistan that modern day global security threats cannot be tackled through only conventional warfare means.

Panetta's outlined "rules" include the "principle of open and free commerce, a just international order that emphasizes rights and responsibilities of all nations and a fidelity to the rule of law; open access by all to their shared domains of sea, air, space, and cyberspace; and resolving disputes without coercion or the use of force."

Thomas Barnett, a renowned US contemporary military strategist who among other posts currently serves as Vice President of the Center for America-China Partnership, has long advocated that the US military should work first and foremost to build alliances with other states towards the aim of establishing "new rule sets" for mutual security and prosperity.

His strategy's premise is that states that have prospered from economic globalization in recent decades are a lesser threat to the US than those which remain "excluded from globalization's functioning core". The theory argues that the spread of neo-liberal economics, alongside the strengthening of partnered militaries, is the best way to expand this "core" and pre-empt future security threats.

Isolated by decades of punitive Western sanctions, Myanmar has until now been excluded from this core. The George W Bush administration took hard aim at the Tatmadaw's abusive record, once referring to Myanmar as an "outpost of tyranny". The isolation and presumed threats of a possible US invasion forced the previous military regime led by Senior General Than Shwe into some hard choices, including military engagement and arms deals with North Korea's rogue regime.

With Thein Sein's election and Western engagement, Myanmar's current military leaders have signaled a course shift, including a shelving of its previous North Korea-assisted nuclear program. Speaking at the July 2 conference, Defense Minister Hla Min made clear his understanding of the connection between economic prosperity and security.

Moral military dilemma

Whether that understanding translates into meaningful military reform is an open question. Premature outside assistance to the Tatmadaw's operational capacities, including potential US-facilitated arms deals channeled through its ally South Korea, would risk destabilization of the country's already fragile security environment further and potentially put civilian populations at greater risk.

According to Timothy Heinemann, a retired US Special Forces Colonel and founder of Worldwide Impact Now, a non-governmental organization that works with war-affected ethnic minority communities in Myanmar, argues such a move would be "wrong" both "morally and practically".

"Discussing the prospect of defense engagement as the [Myanmar] Army is attacking Kachin villagers is particularly bad style," Heinemann said. "It casts a blind eye to the established fact that the primary function of the [Myanmar] Army has been repression and exploitation."

With around 25% of Myanmar's land mass under the control, or heavy influence, of armed non-state ethnic minority groups, any US efforts to empower the Tatmadaw alone will likely perpetuate the conflict and marginalize even larger civilian populations, he argues. "Seeing the [Myanmar] Army empowered [by the US] can drive them toward radicalism that we have not seen to date," he said.

"As we have experienced in both feudal Iraqi and Afghan societies, attempts to empower a central government and single standing army have proven to be folly," said Heinemann. "Any discussion of empowering Burmans without parallel discussion of empowering ethnics in the security sector is a bankrupt approach from the start."

Although Thein Sein's government has initiated an unprecedented number of ceasefires with rebel groups in recent months, many have proven fragile and Myanmar remains a deeply fractured state. While the government's current approach aims to bridge gaps through economic development and centralization, its refusal to make armed opposition groups legitimate political stakeholders has perpetuated conflict in some areas and distrust of the government's motivations in others.

Ethnic groups have essentially been told to give up their arms, cooperate with government-led economic development initiatives and set up political parties to run for parliament if they wish to have political influence. The 2008 constitution, however, provides little space for local autonomy, which remains at the core of most opposition groups' demands.

For decades, these groups have served as the primary providers of relief, healthcare and education to millions of marginalized and disenfranchised citizens and maintain significant popular support. The fact that over 90,000 people displaced by fighting in Kachin State have fled into Kachin Independence Army-controlled areas rather than territory held by the government, as have millions of others in similar situations in ethnic Shan, Karen, Karenni and Mon areas, displays clearly these grassroots preferences.

Heinemann argues that while the US should steer clear of directly empowering the Tatmadaw with weapons, it should leverage its newfound influence on Thein Sein's quasi-civilian government to get "control of the [Myanmar] Army and reform the defense-security sector in a manner that is inclusive of ethnic [leaders], and that properly empowers states for local governance".

"The conversation [of US military engagement] must be about balanced professionalization and empowerment of all ethnic groups within a federal union. This needs to be done at national and state levels or the place will be a mess," said Heinemann.

In an era where Myanmar's future is influenced by external factors more than any time since independence from colonial rule, the US is expected to play an increasingly significant role. Washington's influence over Myanmar will grow as long as Thein Sein continues to open the economy and the US incrementally lifts its remaining economic and financial sanctions.

Reformation of the Tatmadaw into a more responsible army will take time, and will depend more on domestic factors than external ones. While the US pushes to have more influence over Myanmar's military, any engagement will likely be a process of evolution rather than revolution.

"Development of the military is just one small point of really developing a nation," said the former US Captain and military trainer. "It's got to be tied in with a good plan on developing governance systems, security systems such as the police force, and economic systems to really get a country on the right path."

Kim Jolliffe

Kim Jolliffe is a research and analysis consultant focusing on politics, security and humanitarian issues in Myanmar.



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Jun 1, 2012

Malaysia - Asean trading link to be launched in June

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KUALA LUMPUR (May 31, 2012): The soon-to-be-established Asean trading link will create an integrated Asean capital market that will raise the profile of the region's securities to the global investment community, Bursa Malaysia Bhd CEO Datuk Tajuddin Atan said.

"We are trying to put forward the Asean class. We could actually learn from the mistakes of the developed economy and that mistake needs to be solidified and it is something that we are working on. It's a slow step but the objective is achieving that particular destination," he told reporters on the sidelines of Invest Malaysia 2012 here yesterday.

According to Tajuddin, the Asean Trading Link will start with Bursa Malaysia and Singapore Exchange (SGX) in June, with the Stock Exchange of Thailand (SET) coming in in August, and the rest when they are ready.

Bursa Malaysia, SGX, SET, Indonesia Stock Exchange, Hanoi Stock Exchange, Ho Chi Minh Stock Exchange and the Philippine Stock Exchange Inc signed a memorandum of understanding in 2009 to form the Asean electronic trading link to enhance the competitiveness of their capital markets.

It will allow intra-Asean cross-border trading through one single access point and is expected to attract more international funds into Asean countries.

Securities Commission of Malaysia chairman Datuk Ranjit Ajit Singh said as regulator, it focuses on efforts such as creating regulatory alignment and harmonisation, having expedited the framework for secondary listings and making it easier for collective investment scheme distributed between different jurisdictions.

"We have to think about integration in the context of Asean, which is not necessarily the model adopted from Europe. That's very important because there are lots of areas whereby the focus of capital market integration are about creating opportunities for cross-border flows and for markets to have more access," he said, responding to a question on the challenges of harmonising regulations in Asean markets.

"Essentially, it is about being able to mobilise the large pool of savings within the region to be able to be channelled for investment within the region," he said.

Ranjit said over 3,600 companies were listed on the Asean exchanges last year and their total market capitalisation was US$1.8 trillion (RM5.69 trillion).

He said the harmonisation of rules was intended to create an environment for common disclosure standards for cross listing.

"The other harmonisation angle that we are looking towards is making it easier for professionals operating in the different jurisdictions to be able to work in different Asean countries," he added.


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Nov 5, 2011

ASEAN - Asean's links with rest of Asia 'crucial'



Even if Asean is able to get its act together and stay as an important lever with a sizable 590-million population market, its fate is  inadvertently tied to the performance of Asia as a whole.

Not only previously higher annual GDP growth rates of China and India have been dwarfing Asean, but China in particular has emerged as Asia’s export hub – importing more from the rest of Asia to export to the rest of the world, said Andrew Sheng of Hong Kong-based Fung Global Institute.

In his keynote address at the CIMB Asean Conference on “Can Asia Go It Alone?” – an apt title given the crisis in the West – Sheng quickly answered ‘no’ to such decoupling in the short and medium terms but said the ‘answer is a very likely ‘yes’ in the long term provided that Asia and Asean can get their acts together.

He based his assessment on data showing that Asia's intra-regional trade now accounts for more than half of the region's total trade but the expansion is due to the global supply chain sourcing within the region. Moreoverm Sheng presented a chart showing Asian exports and OECD industrial production are highly correlated. And the global financial crisis, which started in 2008, has shatterd myths that Asia can decouple. Particularly, the Lehman Brothers debacle has saw open-trade economies in East Asia witnessing greater shock than anticipated, although the recovery was also faster.

The Malaysian-born economist said Asia's decoupling depends on a number of factors such as boosting domestic engines of consumption and growth and become less reliant on exports; creating own thought-leadership through investment in konwledge skills, innovation, global branding and global competition; upgrading of national and regional governance; ability to avoid regional conflicts and absence of catastrophic disasters; and propelling further economic and financial integration.

He added that Asia's rise is not preordained, due to four major transformations at play now. They include impacts on real sector from the re-invention of Asian global supply chains in the post March 11 Japan disaster; the coming of higher savings, wealth and pension management and internationalisation of Asian currencies; the rebalance role of the state and market; lifestyle change and sustainaibility agenda; and need to break out of the middle income trap.

Sheng was particularly bullish on the prospects of Asian finance. He suggested that by 2015, Asia will have half of global financial assets with major financial centres located in Hong Kong, Singapore, Shanghai, Mumbai, Sydney, Tokyo and Seoul. These centres for asset management and insurance will have to evolve with depth and liquidity. By then, he expects that the Japanese yen, Chinese yuan and Indian rupee will become global currencies. "Asia will (also) be partners in global price-making and rule making," he added.

Sheng said both China and India are re-caliberating growth models. The 2011-2015 Chinese 12th Five-year plan anchors GDP growth at 7 per cent target. China and India's will have more middle class consumers than US and Europe put together by 2030.

But he warned of unsustainable lifestyle as witnessed in the West amd Asians must embrace sustainability and environmental preservation.

Sheng recommended Asean businesses to work closely together to increase visibility and influence key issues.

Business Desk
The Nation (Thailand)



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Oct 17, 2011

ASEAN



The Association of Southeast Asian Nations, commonly abbreviated ASEAN is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam.



Its aims include the acceleration of economic growth, social progress, cultural development among its members, the protection of regional peace and stability, and to provide opportunities for member countries to discuss differences peacefully.

Brunei country profile



Cambodia country profile



Indonesia country profile



Laos country profile 



Malaysia country profile 



Myanmar country profile 



Philippines country profile 



Singapore country profile 



Thailand country profile 



Vietnam country profile



ASEAN covers an area of 4.46 million km², 3% of the total land area of Earth, with a population of approximately 600 million people, and 8.8% of the world population. In 2010, its combined nominal GDP had grown to US$1.8 trillion.

If ASEAN was a single entity, it would rank as the ninth largest economy in the world.



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