Economic crisis

SINGAPORE: India and China share a legally undemarcated frontier along the high Himalayas. After the 1962 Sino-Indian War, China and India settled with perceptions of a boundary which they called the Line of Actual Control (LAC). The Indian and Chinese versions of the LAC, however, overlap. Transgressions are a regular feature of this boundary dispute as are skirmishes among troops tasked to enforce these claims. MOST VIOLENT SKIRMISHES IN 45 YEARS Since 1975, not a single shot has been fired along the Sino-Indian border. Neither has there been casualties under any physical contact with the adversary. Even when Indian and Chinese forces involved themselves in several stand-off-like situations over these past 45 years, the two sides abjured the use of force and avoided deadly combat. That all changed on Monday (Jun 15) night when the Indian Army and the People’s Liberation Army (PLA) soldiers clashed in Galwan Valley, along the Galwan River in Ladakh – India’s … [Read more...] about Commentary: China’s boundary skirmishes with India have wider economic and geopolitical implications

WASHINGTON: After a convincing victory in presidential elections, Indonesia’s President Joko Widodo, known as Jokowi, has his work cut out to deliver on campaign promises to put Indonesia on a higher growth path and find jobs for the millions joining the workforce each year. He must act decisively to boost domestic competitiveness and reengage the global investment community to lift both investment and exports. After a campaign marked by nationalistic rhetoric, often veering into outright xenophobia, foreign investors may wonder if Indonesia welcomes them. Yet facilitating and expanding foreign investment and reducing state involvement remain critical to the success of his next term. The losing candidate, retired General Prabowo Subianto, lambasted foreigners for exploiting Indonesia’s natural resources. READ: What the poll figures from Indonesia elections show, a commentary Less overtly hostile, Jokowi also ran a nationalist-heavy campaign, trumpeting successes … [Read more...] about Commentary: Post elections, it’s full steam ahead on economic reform for Indonesia

NEW DEHLI: Aung San Suu Kyi’s speech on democratic transition this week was particularly notable for one thing – its omission of the word Rohingya. It was notable because the Rohingya crisis was the issue most present at her address and the international community watching wanted to hear her speak on. But she didn’t use this phrase during the question and answer either. Commenting on the situation in Rakhine state, she said: There are not just the Muslims in Rakhine, like most people think. There's Hindus there, there are … small ethnic groups and I would like you to take interest in these small ethnic groups because some of them are disappearing very quickly. It may be an overstatement to say “most people” think that there are only Muslims in Rakhine state when many also know of the Rakhine Buddhist group which forms the majority of the state’s population, as well as other minority groups including Thet, Kamein, Chin, Mro, and Maramagri who practice different religions. … [Read more...] about Commentary: Myanmar buries its head in the sand, one year after the Rohingya crisis

WASHINGTON: Over the past year, more than 700,000 people have fled their homes in Myanmar in the face of a sustained and coordinated campaign directed by the state and aided by nationalist hardliners. The crisis is highly visible, with the Rohingya people largely living in hastily assembled refugee camps in southern Bangladesh. The international community is flummoxed – not wanting to threaten the little progress that has been made in opening Myanmar to the world and risk pushing the country back toward China. In the years when the military regime was isolated, China had emerged as the sole benefactor of the country. NO GOALS FOR STABILITY AFTER A YEAR An agreement signed in December by the governments of Bangladesh and Myanmar was supposed to pave the way for the return of the Rohingya to Myanmar. Had the agreement been a document of serious intentions, the consequences for the Rohingya would likely have been catastrophic as they would have been caught in the maw of the … [Read more...] about Commentary: The Rohingya crisis has diminished the once towering figure of Aung San Suu Kyi

SINGAPORE: Deputy Prime Minister Heng Swee Keat on Tuesday (Feb 16) laid out Singapore’s path of recovery from the COVID-19 pandemic in a Budget that will again draw on the nation’s past reserves. Mr Heng said that as Singapore’s economy reopens, the focus of Budget 2021 will shift “from containment to restructuring”, but there will be targeted support for the hardest-hit sectors as the global battle against COVID-19 is far from over. While the arrival of vaccines has given the world some hope, it’s not a “silver bullet”, he said, as immunising a large proportion of people takes time, and more infectious variants of the virus have emerged. As it happened: DPM Heng Swee Keat's Budget 2021 speech The current uncertainty is accentuated by several structural trends and challenges, he warned. “As a small, open economy, Singapore’s economic recovery is contingent on how the global situation plays out,” he said. “Not everything is within our control. We need to adapt nimbly to … [Read more...] about Emerging stronger from COVID-19 crisis the focus of Budget 2021