Through this article, I was able to see a little better about what
this ASEAN group does and who is involved: The 10-nation Asean group includes
Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the
Philippines, Singapore, Thailand, and Vietnam, it can be compared to the
European Union. Officials from those countries often team up with
representatives of China, Japan and Korea for economic discussion. At this
years meeting, in Phnom Penh, Cambodia they began talks to strengthen the
regional crisis fund and make it less reliant on the International Monetary
Fund. It is predicted that the Southeast Asian region’s economies will expand
more quickly this year in comparison to last year. They estimated that the gross-domestic-product growth for
the region, as a whole, between 5.6% and 6.3% for this year, compared with 4.5%
in 2011. Steady increase is good.
Upcoming risks for this region include weak global demand, tight
liquidity, rising oil prices and volatile capital flows, said finance ministers
of the Association of Southeast Asian Nations. This is similar to other regions of the world.
Originally, growth in the Southeast Asian region soared in the
aftermath of the 2008 global financial crisis, only to cool off last year as
the European debt crisis flared up, spooking investors. They are looking forward to steady
upwards progression now.
They look over trading, capital, and policies to
figure out how to keep their economies as strong as possible, and I must say they have done a
pretty good job collaborating this year.
~Chet Matsuura
http://online.wsj.com/article/SB10001424052702303816504577313532275286436.html?KEYWORDS=thailand
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