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    Economic Development in Asia

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    henriksoder
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    Economic Development in Asia

    Post  henriksoder on Sat Apr 11, 2015 11:48 am

    http://www.svd.se/naringsliv/tillvaxtlanderna-gar-framat-pa-bred-front_6422272.svd

    - "The emerging importance increases and the dollar's dominance can be broken in 2025, writes the World Bank in a study. By 2050, Asia account for half the world economy and three billion more Asians live in prosperity, but there are many traps on the way, says the Asian Development Bank in a Another vision of the future.

    China is estimated on average to maintain a growth of about 7 percent per year until 2025, when China can have an equally large economy like Japan, India, Brazil and Russia. India's economy is stimulated by the country has a young population, but slowed down by "relatively low levels of education." Russia's growth held back by political problems,

    The first and most sought-after scenario called "Asian Century". When Asia 2050 stand for half the world economy, or nearly 150 000 billion dollars of GDP, calculated at current prices. Then the average per capita income nearly 39,000 dollars per year, much like in Europe now. In this case, an additional approximately three billion Asians lifted from poverty to prosperity.

    Seven Asian countries (China, India, Indonesia, Japan, Korea, Malaysia and Thailand) are expected to lead the development and account for 90 percent of Asia's GDP in 2050. "

    Any opinions or facts about this? I think that India's GDP will be bigger than US's 2050, it's fantastic that the living standard will be the same in Asia as in Europe today 2050. I think Asia should focus on a closer cooperation both military and economic for a strong development in the world and Asia should also work for closer cooperation between Asia and Europe and US. Asia should also work for development in Africa and stand for a prosper, peaceful and developing world and a fair Asia. Any know how the economic development in Africa will be? What is your opinion?

    /Henrik

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    Re: Economic Development in Asia

    Post  George1 on Mon Jun 08, 2015 3:27 am

    In 2010, four out of the top five economies in the world were part of the West. In 2050, according to Goldman Sachs, the United States will be the only Western power to make it into the top five.

    But i dont think that India' GDP would be bigger than that of USA. China's yes is the most logic

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    Re: Economic Development in Asia

    Post  George1 on Fri Aug 07, 2015 3:44 pm

    Tehran to Alter Economic and Political Landscape of Middle East

    Businesses from around the world will flock to Tehran, as Iran has one of the most lucrative and promising markets in terms of future growth, Fabien Baussart, President of the Center of Political and Foreign Affairs (CPFA), a think-tank, told Sputnik in an interview.

    Last month, Iran and the P5+1 group signed a historic agreement that ensures the peaceful nature of Tehran’s nuclear program. As a result, Iran has been released from economic sanctions imposed by the United States, the European Union (EU) and the United Nations (UN).

    With these changes taking place, Iran will now open up new business and trade opportunities.

    “Naturally, a number of businessmen and politicians will rush to Tehran… some believe that the total value of potential contracts in Iran could reach $200 billion,” Baussart told Sputnik.

    Furthermore, the end of the sanctions also means that Iran is no longer a “rogue” state in international politics. The world has got itself a powerful player in the Middle East.

    Although nobody knows exactly what Iran’s position will be during the settlement of the Syrian conflict, Tehran could drastically shift the balance of power in the Middle East, Baussart said.

    When asked whether US Secretary of State John Kerry and Iranian Foreign Minister Mohammad Javad Zarif deserve the Nobel Peace Prize for doing an outstanding job in forging the Iranian nuclear agreement, the French expert said he doesn’t agree with the intentions of the Nobel Prize committee.

    At least three other people, including Russian Foreign Minister Sergei Lavrov, Kazakh President Nursultan Nazarbayev and EU High Representative Catherine Ashton, also deserve the praise.

    “If the Nobel Peace Prize is awarded to these five personalities, that would be the best representation of the reality,” Baussart concluded.

    Read more: http://sputniknews.com/politics/20150807/1025502054.html#ixzz3i8WndtPl


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    Re: Economic Development in Asia

    Post  sepheronx on Wed Aug 19, 2015 7:07 am

    Vietnam Can't Keep Currency Up - Devalues Dong 3rd Time This Year, Widened Trading Bands

    The best are the comments.

    can't keep the dong up?

    "VIETNAM CENTRAL BANK WIDENS DONG TRADING BAND"

    Yeah, that's what a shrinking Dong will say every time. "If you would just tighten your policy, honey...."

    Sorry higurashihougi, but your countries currency does open itself up to the humor.

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    Re: Economic Development in Asia

    Post  sepheronx on Wed Aug 19, 2015 7:08 am

    23 Nations Around The World Where Stock Market Crashes Are Already Happening
    Submitted by Michael Snyder via The Economic Collapse blog,

    You can stop waiting for a global financial crisis to happen. The truth is that one is happening right now. All over the world, stock markets are already crashing. Most of these stock market crashes are occurring in nations that are known as “emerging markets”. In recent years, developing countries in Asia, South America and Africa loaded up on lots of cheap loans that were denominated in U.S. dollars. But now that the U.S. dollar has been surging, those borrowers are finding that it takes much more of their own local currencies to service those loans. At the same time, prices are crashing for many of the commodities that those countries export. The exact same kind of double whammy caused the Latin American debt crisis of the 1980s and the Asian financial crisis of the 1990s.

    As you read this article, almost every single stock market in the world is down significantly from a record high that was set either earlier this year or late in 2014. But even though stocks have been sliding in the western world, they haven’t completely collapsed just yet.

    In much of the developing world, it is a very different story. Emerging market currencies are crashing hard, recessions are starting, and equity prices are getting absolutely hammered.

    Posted below is a list that I put together of 23 nations around the world where stock market crashes are already happening. To see the stock market chart for each country, just click the link…

    1. Malaysia

    2. Brazil

    3. Egypt

    4. China

    5. Indonesia

    6. South Korea

    7. Turkey

    8. Chile

    9. Colombia

    10. Peru

    11. Bulgaria

    12. Greece

    13. Poland

    14. Serbia

    15. Slovenia

    16. Ukraine

    17. Ghana

    18. Kenya

    19. Morocco

    20. Nigeria

    21. Singapore

    22. Taiwan

    23. Thailand

    Of course this is just the beginning. The western world is going to feel this kind of pain as well very soon. I want to share with you an excerpt from an article that just appeared in the Telegraph entitled “Doomsday clock for global market crash strikes one minute to midnight as central banks lose control“. You see, the Telegraph is not just one of the most important newspapers in the UK – it is truly one of the most important newspapers in the entire world. When it speaks on financial matters, millions of people listen very carefully. So for the Telegraph to declare that the countdown to a “global market crash” is “one minute to midnight” is a very, very big deal…

    When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal.

    Time is now rapidly running out. From China to Brazil, the central banks have lost control and at the same time the global economy is grinding to a halt. It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations.
    I encourage you to read the rest of that excellent article right here. It contains lots of charts and graphs, and it discusses many of the exact same things that I have been hammering on for months.

    When one of the newspapers of record for the entire planet starts sounding exactly like The Economic Collapse Blog, then you know that it is late in the game.

    Others are sounding the alarm about an imminent global financial crash as well. For example, just consider what Egon von Greyerz recently told King World News…

    Eric, I fear that this coming September – October all hell will break loose in the world economy and markets. A lot of factors point to that, both fundamental and technical indicators and this indicates that we could have a number of shocks this autumn.

    Sadly, most investors will hold stocks, bonds and property and will see any decline in value as an opportunity. It will be a long time and a very big fall before they realize that the system will not help them this time because the central bankers have run out of ammunition to save the global financial system one more time. Yes, we will see more massive money printing, but it will just make things worse. And at some stage, which could be quite soon, real fear will set in, a fear of a magnitude the world has not experienced before.
    Hmm – there is another example of someone talking about September. It is funny how often that month keeps coming up.

    And of course most of the major stock market crashes in U.S. history have been in the fall. Just go back and take a look at what happened in 1929, 1987, 2001 and 2008.

    The “smart money” has been pulling their money out of stocks for quite a while now, and at this point a lot of others have hopped on the bandwagon. The following comes from CNBC…

    The flight of investor money from U.S. stocks has turned into a stampede.

    In fact, the $78.7 billion leaving domestic equity-focused funds has been worse in 2015 than it was even during the financial crisis years, when the S&P 500 tumbled some 60 percent, according to data released Friday by Morningstar. The total is the highest since 1993.

    Domestic equity funds surrendered $20.4 billion in July alone and have seen $158.6 billion in redemptions over the past 12 months. Even a strong flow of money into passively managed exchange-traded funds has been unable to offset the stream to the exit among retail investors, who generally focus more on mutual funds than ETFs.
    A global financial crisis has already begun.

    So those that were claiming that one would not happen in 2015 are already wrong.

    Over the coming months we will find out how bad it will ultimately be.

    Sometimes I get criticized for talking about these things. There are a few people out there that don’t like all of the “doom and gloom” that I discuss on my website. Apparently it is a bad thing to talk about the things that really matter and we should all just be “keeping up with the Kardashians” instead.

    I consider myself just to be another watchman on the wall. From our spots on the wall, watchmen such as myself all over the nation are sounding the alarm about what we clearly see coming.

    If we saw what was coming and we did not warn the people, their blood would be on our hands. But if we do warn the people, then we have done our duty.

    Every day I just do the best that I can with what I have been given. And there are many others just like me that are doing exactly the same thing.

    Those that do not like the warning message are going to feel really stupid when things start falling apart all around them and they finally realize how wrong they truly were.

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    Re: Economic Development in Asia

    Post  max steel on Wed Aug 19, 2015 9:11 am

    Chi ese stock crash has nothi g to do with its economy.

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    Re: Economic Development in Asia

    Post  sepheronx on Wed Aug 19, 2015 3:06 pm

    Is your 'n' key broken?

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    Re: Economic Development in Asia

    Post  George1 on Thu Aug 20, 2015 5:44 pm

    Kazakhstan president asks national exporters for currency

    Kazakhstan is shifting to a new economic policy, which implies free floating national currency defined by market demand

    ASTANA, August 20 /TASS/. Kazakhstan's President Nursultan Nazarbayev has urged national exporters to provide the republic with currency earnings.

    "I am urging all our exporters to provide the country with currency earnings. All this will certainly lie on the government. All currency earnings should be sold inside the country if possible. I am asking the government to coordinate this work," Nazarbayev said at a meeting with the Kazakhstani business community on Thursday.

    The president also urged the government to give up the policy of supporting all enterprises. "Millions of farmers go bankrupt in the United States. In this county, bankruptcy turns into bureaucratic foot-dragging while enterprises stand at a standstill. The government should give up its policy of indiscriminate support of all enterprises," Nazarbayev told the businessmen.

    He explained that the state should support only competitive and profit-making companies.

    The president ordered the National Bank to introduce a mechanism of compensation of individual’s fixed deposits. "This measure will help supporting 1.7 million people and 86% of all the depositors. We cannot allow the social feeling to deteriorate and should prevent a decline in people’s living standards," the Kazakhstani leader said.

    He added that the current financial crisis was worse than the previous financial turmoil.

    "When the financial crisis that started at US banks hit the financial system, we faced a crisis from which we had emerged with minor losses," the Kazakhstani president said. "But the present-day realities are different. They cover everything, including the finances and industry, and who knows what is in store for us. No expert can really say that," Nazarbayev said.

    He also warned the forthcoming years could be hard and promised to punish all saboteurs who would like to use the current hardships to destabilize the situation in Kazakhstan.

    "The law enforcers have received an instruction to stop any provocative actions," Nazarbayev stressed.

    "They have only themselves to blame. We are doing it conscientiously for the well-being of our citizens and the country’s prosperity," the Kazakhstani president concluded.

    Kazakhstan shifting to new economic policy

    Kazakhstan is shifting to a new economic policy, which implies free floating national currency defined by market demand, Prime Minister Karim Masimov said on Thursday.

    "Starting from August 20 of the current year, a decision has been made to begin implementing a new economic policy based on inflation targeting, and cancel exchange rate corridor. The tenge’s exchange rate will now depend on the global economic environment," PM said. "The new economic policy amid fundamental negative changes in the global economy requires a new monetary policy to provide a balance between economic growth and stability of prices," he added.

    The dollar surged by 29.2% in Kazakhstan on Thursday to 255.8 tenge versus 197.9 tenge the bay before.

    The free floating national currency increases the potential of Kazakh enterprises on the market of the Eurasian Economic Union (EAEU), Minister of National Economy Erbolat Dossayev told TASS on Thursday.

    "For Kazakhstan’s economy, for Kazakh producers of goods and services the shift to a new exchange rate policy opens up markets. I can say that Russia and China are the main markets where we may be competitive today," the Minister said. "We have the same economic structure as the Russian Federation, both countries are now oriented toward export when the bulk of revenues depend on export of commodities," he said, adding that integration into global economy brings both pluses and minuses to the country, and the key task for the EAEU member-states is "accelerated diversification of economy."

    The government of Kazakhstan plans to introduce a number of tax breaks for oil and gas producers in the nearest months. "In September, a decision will be taken on pegging export tariff duty to oil price, and the Government will stop directive regulation," Masimov said.


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    Re: Economic Development in Asia

    Post  George1 on Thu Aug 20, 2015 5:45 pm

    Kazakhstan's Tenge Plummets in Value After China, Russia Devaluation


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    Re: Economic Development in Asia

    Post  George1 on Fri Aug 21, 2015 11:29 am

    Asian Development Bank allocates $1 billion loan to Kazakhstan

    "The loan will give Kazakhstan an opportunity to overcome the unintended consequences of the falling oil prices and the negative impact of the economic recession in neighboring countries" ADB said

    ASTANA, August 21 / TASS / The Asian Development Bank (ADB) has approved a loan of $1 billion for assistance to Kazakhstan in the continuation of government programs to strengthen the economy, the bank said in a statement on Friday.

    "The loan will give Kazakhstan an opportunity to overcome the unintended consequences of the falling oil prices and the negative impact of the economic recession in neighboring countries" ADB said.

    On August 19, Prime Minister of Kazakhstan Karim Masimv said at a government telephone conference that the country will allow its national currency tenge to float freely, "The decision was made to start a new economic policy from August 20 on the basis of inflation targeting and to cancel the currency corridor," the premier cited a joint statement of the government and the National Bank.

    Earlier, the tenge has supported the financial regulator in the 170-198 tenge per US dollar range. Immediately after that, the dollar's value on the stock exchange increased by nearly 30% to 255.26 tenge.


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    Re: Economic Development in Asia

    Post  George1 on Wed Aug 26, 2015 12:41 am

    Economic Development Minister: Russia, ASEAN approve more than 50 investment projects


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    Re: Economic Development in Asia

    Post  George1 on Fri Sep 18, 2015 1:06 am

    Bottomed Out: Investors Return to Asian Markets Attracted by Cheaper Assets

    After a wave of currency devaluations, reminiscent of the 1997 crisis, several Asian nations have quickly regained their investment appeal, unlike many other emerging nations, struggling amid policy inefficiency and trade recession.

    Kristian Rouz – Amidst the financial turbulence in most emerging markets, their respective national currencies have depreciated significantly during the past several months due to investors’ exodus to the safer assets of the US, Japan and the Eurozone.

    While the uncertainty of mainland China’s growth and the shrinking export potential of industrial nations of Southeast Asia is still weighing on the region’s financial performance, select nations are starting to reap first benefits of their asset depreciation.

    Emerging markets with a more stable outlook, like Malaysia and Indonesia, are enjoying their improved investment appeal, possibly signaling an upcoming full-scale rebalancing in structure of industrial and financial development in the third world.

    Most Asian currencies have plunged amidst the anticipation of the US Federal Reserve’s interest rate hike, coupled with destabilizing effects of mainland China’s slowdown and decline of exports, most prominently, from both China and Vietnam.

    Some Asian currencies dropped to their 1998 lows, suggesting a crisis similar to the 1997 Asian meltdown might repeat itself amidst the lower oil prices and industrial overproduction.

    However, while a full-blown regional crisis still seems more of a far-fetched perspective, the currency devaluation might be a good thing.

    Both Malaysia’s ringgit and Indonesia’s rupiah are at their 1998 lows, mostly due to both nations’ dependence on oil exports. A general export decline has triggered a massive selloff in Asian assets recently, with both the People’s Bank of China (PBOC) and the State Bank of Vietnam (SBV) forced to devalue their currencies striving for their respective international competitiveness in industrial exports.

    The Vietnamese dong has dropped 5% in 2015 as the nation’s trade deficit rose to $300 mln in July due to slowing export activity. Vietnamese exports only added 9.5% in January through July 2015 compared to an increase of 14.5% for the same period last year.

    Mainland China’s renminbi was devalued by 4.4% in August, causing a shock to international markets, as the PBOC felt the urge to help shrinking exports as well. Chinese exports fell an annualized 8.3% in August.

    The Malaysian ringgit fell by some 30% in 2015, weighed on by the decline in value of exports as oil prices fell. Indonesia’s rupiah dropped roughly 20% for the same reasons. The situation in the developing Asian nations is drastically different than that in Japan: while Japanese exports slid 0.7% in shipped volume in July, their value actually rose by 7.6% due to the advanced hi-tech components prevailing in most of the nation’s industrial output.

    This is not another Asian crisis though: in 1997, the Malaysian currency crashed by 70%, while in Indonesia, the rupiah was devastated by a massive 448% devaluation.

    The fundamental outlook is a lot better for most of Southeast Asia now: seeking cheaper labor, multinational enterprises are moving their facilities there, including those evacuated from mainland China, where labor appreciated without any regard to the actual lack of technological self-sustainability.

    The depreciation in Southeast Asian currencies only makes things better for Malaysia and Indonesia: while labor has become even cheaper, material assets have depreciated as well, meaning a sharp cost reduction for those interested in doing their business in the region.

    Malaysia has enjoyed a trade surplus ever since 1998, having built up solid FX reserves. The situation is similar for Indonesia, whose FX reserves are 5 times larger those in 1998. In South Korea and Thailand, FX reserves have also risen since 17 years ago.

    Meanwhile, the external of in these particular four nations has decreased by 60%. Thus, Malaysian, South Korea, Indonesia and Thailand are now enjoying better bond ratings, making the business climate even more favorable.

    And as the US accelerates, the increased import of technology into the emerging industrial nations of Asia will eventually result in greater and better exports of manufactured goods to the global market from these nations. For now, Indonesia’s exports to the US rose 14% in August from July.

    According to US financial giant Morgan Stanley, the Indonesia rupiah and the Malaysian ringgit are the region’s most attractive investment assets: both are cheap, while the policies of their respective governments are sound and market-friendly, and their economies are industrializing rapidly, also having an oil-exporting backstop.

    As outlined in Morgan Stanley’s observation, Malaysian assets are now the cheapest, Indonesia comes second in the same rating. India is also attractive, finding itself in similar conditions: cheap workforce and inexpensive assets across all sectors of the economy.

    Meanwhile, the bank marked Turkey, South Africa and Brazil as most vulnerable in the current financial environment. In Turkey, labor costs are rather high, while South Africa suffers, as its mining is growing cost-expensive and less profitable, and Brazil is plagued by governmental and regulative inefficiency.

    Currently, the US Fed’s possible rate hike, expected on 17 September might trigger a short-lived selloff all across the emerging markets. However, a stabilization is likely within a matter of days in the most promising and investment-friendly markets of Southeast Asia.

    Meanwhile, the more vulnerable nations and those exposed to Chinese risks, are subject to lingering uncertainty, largely depending on further US growth, driving oil prices and determining the changing landscape of international trade.

    Read more: http://sputniknews.com/business/20150917/1027127416.html#ixzz3m2XbUA1q


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    Re: Economic Development in Asia

    Post  max steel on Thu Oct 08, 2015 9:06 pm

    Renminbi overtakes Japanese yen as 4th most global payments currency

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    Re: Economic Development in Asia

    Post  max steel on Thu Oct 08, 2015 10:36 pm

    China launches Yuan based International Payment System

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    Re: Economic Development in Asia

    Post  higurashihougi on Sat Oct 10, 2015 5:16 am

    I never never accept TPP from the beginning, therefore I would like to give wikileaks and RT 100000 likes for this information.

    https://www.rt.com/usa/318146-tpp-wikileaks-intellectual-property/

    'TPP would cost lives': WikiLeaks unveils full intellectual property chapter

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    Re: Economic Development in Asia

    Post  Werewolf on Sat Oct 10, 2015 6:14 am

    higurashihougi wrote:I never never accept TPP from the beginning, therefore I would like to give wikileaks and RT 100000 likes for this information.

    https://www.rt.com/usa/318146-tpp-wikileaks-intellectual-property/

    'TPP would cost lives': WikiLeaks unveils full intellectual property chapter

    A good comment right there

    "What is writen ink we can rewrite in blood"

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    Re: Economic Development in Asia

    Post  sepheronx on Sat Oct 10, 2015 9:32 am

    TPP will benefit Vietnam way more than Canada. We are effectively screwed in Canada due to TPP. I figure the people who sign up for it are nothing but traitors.

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    Re: Economic Development in Asia

    Post  Werewolf on Sat Oct 10, 2015 9:57 am

    sepheronx wrote:TPP will benefit Vietnam way more than Canada.  We are effectively screwed in Canada due to TPP.  I figure the people who sign up for it are nothing but traitors.

    TTIP won't benefit anyone but elites in US, it will open havoc to industries, health of population and minimum wage laws will be lifted sooner or later. Slave labour with genetic MSO genocide and pharmaindustry like in US were all hospitals are private and you pay 400-800 USD for 1 liter salty water for infusion.

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    Re: Economic Development in Asia

    Post  sepheronx on Sat Oct 10, 2015 10:00 am

    Werewolf wrote:
    sepheronx wrote:TPP will benefit Vietnam way more than Canada.  We are effectively screwed in Canada due to TPP.  I figure the people who sign up for it are nothing but traitors.

    TTIP won't benefit anyone but elites in US, it will open havoc to industries, health of population and minimum wage laws will be lifted sooner or later. Slave labour with genetic MSO genocide and pharmaindustry like in US were all hospitals are private and you pay 400-800 USD for 1 liter salty water for infusion.

    I don't think it will pass all nations parliament. But there is a chance that it might. I wonder if people will end up going to the streets? Doubt it, as people are pretty damn lazy.

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    Re: Economic Development in Asia

    Post  Werewolf on Sat Oct 10, 2015 10:33 am

    sepheronx wrote:
    Werewolf wrote:
    sepheronx wrote:TPP will benefit Vietnam way more than Canada.  We are effectively screwed in Canada due to TPP.  I figure the people who sign up for it are nothing but traitors.

    TTIP won't benefit anyone but elites in US, it will open havoc to industries, health of population and minimum wage laws will be lifted sooner or later. Slave labour with genetic MSO genocide and pharmaindustry like in US were all hospitals are private and you pay 400-800 USD for 1 liter salty water for infusion.

    I don't think it will pass all nations parliament.  But there is a chance that it might.  I wonder if people will end up going to the streets?  Doubt it, as people are pretty damn lazy.

    Haha, with the current flood of immigrants on US behalf, the entire TTIP will be pressed through regardless who says or does what. The question is not if, but when they push it through and how fucked up it gets afterwards. It will be certainly no place you want to live by then.

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    Re: Economic Development in Asia

    Post  higurashihougi on Sun Oct 11, 2015 9:26 am

    Comments about TPP

    https://www.eff.org/deeplinks/2015/10/final-leaked-tpp-text-all-we-feared

    The Final Leaked TPP Text is All That We Feared

    Today's release by Wikileaks of what is believed to be the current and essentially final version of the intellectual property (IP) chapter of the Trans-Pacific Partnership (TPP) confirms our worst fears about the agreement, and dashes the few hopes that we held out that its most onerous provisions wouldn't survive to the end of the negotiations.

    Since we now have the agreed text, we'll be including some paragraph references that you can cross-reference for yourself—but be aware that some of them contain placeholders like “x” that may change in the cleaned-up text. Also, our analysis here is limited to the copyright and Internet-related provisions of the chapter, but analyses of the impacts of other parts of the chapter have been published by Wikileaks and others.

    (click the link to see full text)

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    Re: Economic Development in Asia

    Post  George1 on Fri Oct 23, 2015 7:06 pm

    Japanese companies consider participation in Silk Road Economic Belt

    Hokkaido Bank Board Chairman Yoshihiro Sekihachi said he supports format of priority development territories created to boost development of Russian regions

    VLADIVOSTOK, September 4. /TASS/. Japanese companies considering possibility to participate in the Silk Road Economic Belt Project and express interest in projects in Russia’s Far East, Hokkaido Bank Board Chairman Yoshihiro Sekihachi told the Eastern Economic Forum in Vladivostok on Friday.

    "Japanese companies consider the possibility of participation in the Silk Road [Economic Belt] project," he said adding that they take active interest in projects in Russia’s Far East. "The bank would want Japanese companies it brought here to invest in the economy of the Far East," he added.

    Hokkaido Bank provides assistance to Japanese companies but does not conduct its own investment activity as a commercial bank.

    Yoshihiro said he supports format of priority development territories created to boost development of Russian regions. "Priority development territories and the free port of Vladivostok are very good undertakings, and we welcome them. However, the issues of logistics arises, of ensuring this flow of goods. At the same time, we need to solve the issues of ensuring maritime and air traffic between the countries," he noted.

    The board chairman also said that the Japanese company plans to start a project on constructing a greenhouse complex in Vladivostok. TASS reported earlier that a similar project is planned in Khabarovsk.


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    George1
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    Re: Economic Development in Asia

    Post  George1 on Wed Dec 02, 2015 9:35 am

    Asian Infrastructure Investment Bank to provide loans of up to $15 bln annually

    About 30 countries are waiting to obtain the status of membership in AIIB

    BEIJING, December 2. /TASS/. Asian Infrastructure Investment Bank (AIIB) over the next five years will provide $10 to $15 bln loans annually, AIIB President Jin Liqun said Wednesday.

    Earlier, Deputy Minister of Economic Development Stanislav Voskresensky told TASS that the financing of the first projects involving AIIB could begin in 2016. It is expected that Russia's participation in AIIB will allow the bank to raise funds for the implementation of large investment projects on the territory of the country.

    According to the AIIB president, the bank will develop successfully only with active participation of European countries. "The Bank should not be limited to Asian countries, AIIB will be successful only if European countries join," Jin Liqun said. "About 30 countries are waiting to obtain the status of membership in AIIB, which will increase the bank's capital," he added.

    As TASS reported earlier, according to the Russian Accounts Chamber draft amendments to the budget of the Russian Federation for 2015, Russian contributions in 2015 to the authorized capital of the Asian Infrastructure Investment Bank (AIIB) amount to 17.96 bln rubles ($289.7 mln), to the authorized capital of the New Development Bank - 12.6 bln rubles ($202.8 mln).

    Within the framework of the subprogram "Development of the international financial and economic cooperation of the Russian Federation" the draft law includes increase in budgetary allocations to 30.6 bln rubles ($492.14 mln) to the Russian Finance Ministry, which includes contributions to the AIIB authorized in the amount of 17.96 bln rubles ($289.7 mln), and 12.6 bln rubles ($202.8 mln) to the authorized capital of the New Development Bank, the Russian Accounts Chamber said.

    The agreement on setting up the Asian Infrastructure Investment Bank was signed by 57 countries in late June 2015 in Beijing. China holds 26.06% of votes in board of directors, India - 7.5% and Russia - 5.92% The AIIB will be headquartered in China’s capital Beijing. The starting capital will stand at $50 billion and can be later increased to $100 billion.


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    Re: Economic Development in Asia

    Post  George1 on Thu Jan 14, 2016 2:07 pm

    Kazakhstan Ratifies Asian Infrastructure Investment Bank Deal

    The Kazakh Senate ratified the Asian Infrastructure Investment Bank (AIIB) agreement, which sets out the AIIB's legal framework, local media reported Thursday.

    MOSCOW (Sputnik) — Under the agreement, the registered capital of the bank amounts to $100 billion, divided into one million shares, only open for subscription to members of the bank.

    The initial subscribed share capital for Kazakhstan amounts to $729.3 million, according to the Novosti-Kazakhstan news agency.

    The AIIB is an international financial institution created by the Chinese government to stimulate growth and attract investment in infrastructure projects in the Asia-Pacific region.

    The bank's charter officially entered into force on December 25, 2015. The AIIB is set to rival the World Bank and Asian Development Bank in the region.

    Read more: http://sputniknews.com/business/20160114/1033101963/kazakhstan-aiib.html#ixzz3xDvahEJy


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    Re: Economic Development in Asia

    Post  max steel on Sun Jan 17, 2016 11:13 am

    Colossal Failure cry

    AIIB to Issue Loans in US Dollars

    The Asian Infrastructure Investment Bank (AIIB) will credit projects in US dollars while attracting capital in other currencies, AIIB President Jin Liqun said Sunday.

    "We lend only in US dollars," Jin said at a press conference, answering question on whether the institution would issue loans in other denominations.
    He clarified that other currencies, including the euro and the yuan, could be used to attract capital from the international market.

    The bank, seen as a rival to Western-dominated international institutions like the World Bank and the International Monetary Fund, was officially launched on Saturday with $100 billion in capital.
    Jin, president-designate as of August, was confirmed AIIB's first president at its inaugural session.


    AIIB, with 57 founding countries, is set to begin looking into infrastructure and energy project loans by mid-2016, Russian Economic Development Minister and AIIB Board of Governors member Alexei Ulyukayev said on Saturday.
    The Asian Infrastructure Investment Bank (AIIB) will issue its first loans before the end of 2016, bank President Jin Liqun said.


    Jin, who was confirmed as the institution’s first leader at its inaugural session after an opening ceremony on Saturday, further declined to enumerate the projects planned to be co-financed with other financial institutions.


    AIIB, with 57 founding member countries and $100 in initial capital, is seen as a rival to Western-dominated institutions such as the World Bank and International Monetary Fund.
    Russian Economic Development Minister and AIIB Board of Governors member Alexei Ulyukaev said on Saturday the bank was set to begin considering infrastructure and energy project loans by the second quarter of 2016.



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