The region has transformed from one of low-income and largely agricultural economies to one of middle-income and highly sophisticated economies with growing middle classes. The region now acts as an engine of growth for the global economy, accounting for more than a third of global GDP growth last year. This success story permeated many of the discussions and events during the recent World Bank-IMF Annual Meetings in Bali, Indonesia. From the high rankings of many East Asian countries in the newly released Human Capital Index, to the substantive discussion around the ‘East Asian Miracle’ and its future, the week served to showcase how far the region has come and its significant potential to achieve even greater success. While prospects for the region’s continued development remain favorable, EAP countries will have to navigate heightened global uncertainty and headwinds that have emerged in recent months: trade tensions, weakening global trade, tightening … [Read more...] about Deepening East Asia and Pacific success in the midst of uncertainty
Prospective jobs in the future
Forty years after the war ended, relations between Viet Nam and the United States have grown significantly, especially in trade. In 2014, Viet Nam became the top ASEAN exporter to the US with a record trade surplus of almost US$25 billion. Bilateral trade reached $36.3 billion last year. Both nations are participants of Trans Pacific Partnership (TPP) trade negotiations, so bilateral trade is predicted to expand. Viet Nam News spoke to experts about how Viet Nam can leverage its reforms and economic competitiveness to reap the benefits of these new opportunities. The US has become a key trading partner and investor for Viet Nam. In the next two or three years, do you think the US could become the top investor in Viet Nam? Adam Sitkoff, executive director of American Chamber of Commerce Viet Nam It is a credit to the Vietnamese and American people that our two countries have been able to move beyond the tragedies of our shared past to build such a vibrant and strong friendship. One of … [Read more...] about US – VN trade likely to boom under TPP – Opinion – In the Spotlight – Vietnam News Politics, Business, Economy, Society, Life, Sports
1. Issuing action programme for implementation of the 12th Party’s Resolution The Party Delegation and Executive Committee of MoNRE has issued an action programme to successfully implement the Resolution of the 12th National Party Congress. The programme highlighted the ministry’s determination to creatively, drastically and synchronously implement measures to build a clean and strong Party committee. The sector’s goal by 2020 will be creating basic change in rationally, effectively and sustainably exploiting and using natural resources, as well as controlling the rising level of environmental pollution, towards a green and environmentally friendly economy and actively respond to climate change. 2. PM’s issuance of the Directive on environmental protection On the basis of the Government’s national online conference on environmental protection on August 24, 2016, Prime Minister Nguyen Xuan Phuc on August 31, 2016 issuedDirective No. 25/CT-TTg on a number of … [Read more...] about Ten major natural resource and environmental events in 2016
VietNamNet Bridge - Hot issues in the APEC Summit 2016 are Brexit and the rise of populism in politics, especially in the US after Donald Trump was elected the new president, which appears to have added strength to the voices protesting globalization. Protectionism is about to "rise", trade and investment are "losing momentum" and gradually they are no longer a top strength of economic globalization. After the Brexit "shock" will there be a shock of globalization? Mercantilism caused instability in the world for decades. Before the Industrial Revolution, the regulations restricting imports by tariffs and quotas in order to promote domestic productionreduced the strength of opponents and increased global influence. These measures actually created some short-term gains but they caused political tensions, territorial expansion and persistent and costly wars. The consequences of the new mercantilism of the US President-elect Donald Trump, especially for China, may not be so bad, but … [Read more...] about APEC 2016: what is the future of globalization?
Britons have voted to leave the European Union, a decision which leaves the world's fifth-biggest economy facing deep uncertainty about its growth prospects and its attractiveness to investors, and which could hurt other economies in Europe and beyond. The vote is expected to deliver at least a short-term hit to growth in Britain and might push it into recession. It could prompt the Bank of England to cut interest rates to zero and test the willingness of creditors to keep on funding Britain's current account deficit. Further ahead, the implications of the vote will depend on what kind of trading relationship Britain can strike with the EU, which accounts for nearly half the country's exports. Below is a summary of the economic implications of the vote: ECONOMIC GROWTH * Britain's economy would grow more slowly outside the EU than if it stayed in, according to a raft of projections made in the run-up to the referendum by the government, the Bank of England, British research institutes, … [Read more...] about Factbox: What Brexit could mean for the UK economy