Thailand – Myanmar - Mutual prosperity depends on more than just profits

Thailand and Myanmar's leaders must understand that rectifying social problems is as important as investment and balance sheets.

Prime Minister Yingluck Shinawatra is leading a group of Cabinet members on a visit to Myanmar this week. Economic cooperation is high on the agenda, but will Thailand's business interests in Myanmar be for the benefit of the Myanmar people?

Yingluck's official visit runs from September 19 to 21. The entourage consists of Foreign Minister Surapong Towichukchaikul, Commerce Minister Boonsong Teriyapirom, Industry Minister MR Pongsawat Sawasdivat and Deputy Transport Minister Chadchart Sittipunt. The high-level delegation shows that Thailand means business.

The trip is meant to foster economic ties, especially regarding development of the Dawei deep-sea port and the Dawei industrial zone in Myanmar. The Dawei development projects are intended to eventually link with economic zones in Thailand.

Nonetheless, this economic cooperation should ensure the support of Myanmar's people. This can only be achieved by fully communicating with local people in the areas of interest. Every effort must be made to ensure that economic benefits will be spread out.

These people should be entitled to take part in discussions early on, to ensure that their concerns, such as on environmental effects, are addressed. New investment should create opportunities for local people and should not adversely affect their way of life.

The coming of foreign investment and improved infrastructure should be designed to help Myanmar raise its people from poverty after decades of political deadlock that kept the country in the economic wilderness. It should not lead to a greater widening of the gap between the affluent and the poor.

The Thai government's plan to build closer economic ties with Myanmar is an obvious strategy, due to Thailand's geographical location and the long history between the two nations. In spite of sporadic border conflicts, millions of people cross the border every day to do business.

Thailand should maximise its strategic significance to create wealth in a sustainable manner. Easier access and logistical improvement should provide the opportunity for people on both sides of the border to utilise available resources sustainably in order to improve their standard of living.

Investments in infrastructure and communications systems will help both Thailand and Myanmar realise their economic potential in the long run. It will also help promote regional trade and investment, not only within Asean but also with China and India. Improved transport and logistics systems will enable Asean to become better connected and serve as an important gateway for distribution of goods and raw materials to the world. But local people's concerns must be addressed to prevent feelings of mistrust or the feeling that foreigners are trying to exploit resources.

Other issues such as the treatment of minority groups along the border, and the condition of migrant workers from Myanmar in Thailand, should also be brought into the discussions. If economic prosperity in Myanmar is managed well, it could encourage migrant workers to return and enjoy new opportunities at home.

Following Myanmar's remarkable progress over the past year, the Thai government should look for opportunities to help its neighbour achieve lasting political and democratic reform, and to smooth the process of further integration into the Asean community.

The diplomatic relationship should have positive implications in all areas of concern, not only economic cooperation. Long-term, sustainable peace and prosperity depend also on social factors and the elimination of distrust, as well as economic ones. This is an opportunity the Thai government should not miss.

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Hong Kong - Dragon smiles on HK tycoons, says feng shui master

HONG KONG: Some of Hong Kong's richest property tycoons were born in the Year of the Dragon and can expect a prosperous 2012 under their auspicious birth-sign, a feng shui master said Wednesday.

"The element of earth is especially pronounced in the Year of the Dragon, so people born this year will have an advantage in business related to the earth -- real estate for example," Hong Kong geomancer Si Tou Kin Fu said.

Hong Kong's richest man, Li Ka-shing, was born in the Year of the Dragon in 1928. The chairman of Cheung Kong Holdings and Hutchison Whampoa, he has a net worth of US$22 billion and is ranked 11th on the Forbes billionaires list.

His son Richard Li, born on the Dragon year of 1964, is chairman of Hong Kong's biggest phone company. At age 44, he is worth an estimated US$1.4 billion.

Raymond Kwok, another dragon baby born in 1952, is the youngest of the Kwok clan, which is behind one the city's biggest developers, Sun Hung Kai Properties. The family was ranked 23rd on Forbes billionaires list last year.

Also born in 1952 is Robert Ng, chairman of property development conglomerate Sino Group. He is the eldest son of the late Ng Teng Fong, the Singaporean real estate billionaire.

The Chinese zodiac is based on a 12-year cycle, with each year represented by an animal. Traditionally associated with imperial power, the dragon is the fifth animal in the cycle and is considered the most auspicious.

Si Tou said that not all those born in a dragon year could expect fortune and power. Other factors such as the time of birth were also vital to one's fate.

"Li Ka-shing has a special life grid, unusual," Si Tou said.

"Otherwise one 12th of the Chinese population would be mega-rich -- we know that's not true."

- AFP/ir


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Singapore - Singapore rises to 16th on prosperity index

Singapore has moved up one spot to 16th place this year on a global index that ranks national prosperity based on both wealth and well-being.

It also came in tops in the economy sub-index--ahead of overall table leaders such as Norway and Switzerland--with over nine in 10 people satisfied with their standard of living. Expectations for the future were just as strong.

The London-based think-tank Legatum's Prosperity Index assesses 110 countries based on performance in eight areas such as economy, personal freedom, health and social capital.

China jumped 14 places from a year ago to claim 10th spot on the economic indicator--which measures performance in areas such as macroeconomic policies and financial sector efficiency--moving ahead of the US for the first time. It placed at 52nd overall.

"China's economy is growing quickly, and citizens are optimistic about the future, but many are dissatisfied with current standards of living," the report said.

On the safety and security indicator, Singapore ranked 6th, while in governance it came in 13th, with Singaporeans having "some of the world's highest levels of confidence in their Government and its institutions".

However, Singapore was let down by educationits worst-performing indicator--ranking only 51st in the sub-index.

The report noted that while popular approval of the education system here is high, workers are only moderately educated with a higher-education enrolment rate of just under 34 per cent.

The personal freedom and social capital categories also dragged down Singapore's overall ranking, with the country placing 30th and 32nd respectively.

Overall, Norway, Denmark and Australia topped the table.

The US ranked 10th--the same as last year--and scored high in measures of public health and entrepreneurial environment.

But its position slipped in the governance sub-index due to a drop in citizens' confidence in federal government, the honesty of polls and in the judicial system.

"Our dominance is being eroded by the rise of the rest. The US will have to hustle, or fall further in such rankings," said CNN host Fareed Zakaria in Washington DC on Tuesday.

"But the US will have to break out of its deadlocked political system and make choices that involve short-term pain. Our crisis is political, not economic." he said.

While the shadow of the economic crisis still looms over many countries, the index shows some bright spots. The report noted that since 2009, 87 out of the 110 countries have seen a rise in their overall prosperity score.

Esther Teo

The Straits Times

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