atans1

Phew, Asean can relax a little, but not too much

In Indonesia, Malaysia, Vietnam on 28/09/2013 at 6:59 am

The Fed’s decision to delay unwinding its $85-billion-a-month money-printing programme eases the pressure on the two Asian countries with the biggest dollar addiction – India and Indonesia – to cure their habit by squeezing domestic demand. Investors reacted accordingly: the Indonesian Rupiah jumped 1.9 percent against the dollar on the morning of Sept. 19, while Jakarta stocks rose 5 percent.

… Asian countries cannot afford to relax. From just before the onset of the global financial crisis, private sector debt has swelled by 73 percentage points of GDP in Hong Kong and 45 percentage points in Singapore. While these small, open economies can arguably live with large swings in capital flows, the credit surge in Malaysia and Thailand is more worrying. The longer the global liquidity glut lasts, the more painful the hangover will be.

http://blogs.reuters.com/breakingviews/2013/09/19/fed-brings-asia-short-term-relief-long-term-risks/

Burma: Lady’s still sceptical

how sceptical she was about the reform process in Myanmar …

Yet, she pointed out, Myanmar is still not a democracy, and neither at peace, nor under the “rule of law”. She and her party are campaigning to change a constitution which, besides debarring her from the presidency she hopes to assume in 2015, guarantees the army a blocking minority in parliament. She said many members of the government are betting that economic success will enable them to hold back democracy. “How quickly and reliably can mindsets change?” she asked, recalling that Myanmar has had half a century of military dictatorship and just three of tentative reform.

And although ceasefires have been signed in most of the score of ethnic conflicts that have simmered since independence in 1948, a comprehensive peace deal remains a distant dream. She identified this—“national reconciliation”—as the biggest task facing Myanmar.

http://www.economist.com/blogs/banyan/2013/09/aung-san-suu-kyi-singapore

UOB Vietnam has launched a unit to advise Vietnamese businesses expanding into Asia.

“Vietnam has prospered from steady economic growth over the last decade and we have seen many of our customers develop from small businesses to companies that are ready to spread their wings to the rest of Asia,” said Thng Tien Tat, executive director of UOB Vietnam.

From the first half of last year to the same period this year, UOB’s business flows between Vietnam and Asia increased 20 per cent. Trade between Vietnam and Asia grew 46.7 per cent to US$150.4 billion from 2010 to 2012, according to the International Monetary Fund.

The new FDI Advisory Unit will give UOB customers expanding in and out of Vietnam access to the bank’s full suite of corporate and personal banking products. BT

Floodwater encircled an industrial estate to the north-east of Bangkok yesterday, adding to fears that Thailand could see a repeat of the devastation caused by floods in 2011, but the estate’s director said the water will not enter the complex.

The 2011 floods killed more than 800 people around the country and caused major disruption to industry, cutting economic growth that year to just 0.1 per cent.

Since Thailand is a big supplier of electronic parts, hard disk drives and car parts, international supply lines were disrupted, too.

The government has insisted there will be no repetition, partly because rain has been less heavy this time but also because dams are nowhere near as full as they were then. BT

A Thai transgender student who protested against having to wear a male uniform could end up in court, it’s reported. BBC report

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