Determined to keep abreast of affairs throughout the country, President Susilo Bambang Yudhoyon has installed a 'situation room' at the Presidential Palace. (Antara Photo/Widodo S. Jusuf)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Thursday, October 30, 2008

Asia urged to deepen economic integration

The Jakarta Post,  

Export-dependent Asia should hasten regional economic integration to bolster trade and keep a crucial engine of growth running as it braces for fallout from the global financial crisis, officials and experts at an international trade forum urged Thursday. 

Many of the region's nations have pursued export-led industrialization and growth to quickly lift living standards but are now facing a prolonged slowdown as demand from Europe and the US wanes as the credit crunch morphs into an economic meltdown. 

Dozens of free trade agreements are being pursued in Asia but these should be unified under a regional umbrella to avoid overlapping pacts and to reap maximum benefit, experts at the forum said. 

"In the current economic situation, the threat of much slower global trade appears to be real. It is important to convince the world that expanding trade through economic integration is one of the ways to restore global economic growth," said Malaysia's Trade Minister Muhyiddin Yassin. 

More than 70 free trade agreements have been concluded by the ten-member Association of Southeast Asian Nations along with China, South Korea and Japan, with another 70 or more still being negotiated, he said. 

ASEAN's members are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. 

But regional or multilateral pacts are preferred in order to maximize trade, minimize distortions and to relieve the administrative burden on smaller developing countries that have limited resources, Muhyiddin said. 

Trade between ASEAN nations has grown from $82 billion in 1993 to $404 billion last year, representing an average annual growth of 12 percent and accounting for a quarter of the grouping's total trade, he said. 

Nagesh Kumar, director-general of the Research and Information System for Developing Countries think-tank in India, said Asia must seek to boost trade within the region to reduce reliance on Western countries as demand slows and exports dwindle amid the global economic meltdown. 

"To make up for the losses, Asia needs to find new sources of demand. Regional economic integration is the real option to pursue now with more vigor to enable it to overcome this crisis," he told The Associated Press on the sidelines of the forum. 

ASEAN countries have set a 2015 deadline to turn into a European Union-style economic community in which goods, services, investments and skilled labor will flow freely. 

At the same time, ASEAN and three major Asian economies - China, Japan and South Korea - are studying a wider proposed East Asian free trade agreement. There are also proposals to enlarge it to embrace India, Australia and New Zealand. 

Despite concerns over a "noodle or spaghetti bowl" effect due to overlapping Asian trade agreements, Philippines senior trade undersecretary Thomas G. Aquino said the pacts are crucial as they allow countries to enter into dialogue on contentious trade issues. 

"In these troubled times, the value of new and deeper FTA models is that they enlarge the menu to beyond spaghetti and noodles. They provide logical reasons, specific opportunties and productive occasions for parties to continue egaging in meaningful cooperation," he said. 

India's Kumar said a wider free trade area incorporating both Asian giants China and India would be the best option even though negotiations become tougher when the number of participating nations increases.

No comments: