At the moment, Hong Kong does not have bilateral trade agreements with Japan or South Korea. By joining RCEP, Hong Kong may be able to capitalise on significant new trade and investment opportunities with both these countries.
Road accident-related deaths cause massive losses, about four billion baht, or around six million baht/case, each year in Thailand. The loss is much higher if we include injuries, with many paralysed, and the psychological impact on the families of the deceased and those injured.
Biden has made a point of stressing ASEAN centrality, and for the attending ASEAN leaders this is a chance to set out regional priorities to a superpower whose influence, if receding, is still substantial.
The US government released its Indo-Pacific Strategy in February 2022, which fleshes out its policy priorities in the region. This document is based on the ‘Free and Open Indo-Pacific’ concept announced by previous president Donald Trump in 2017.
Rising oil prices throw Indonesia’s energy subsidies into question
Indonesia has subsidised its energy sector for years. This includes fuel, gas and electricity. In 2014, the government spent 19.2 per cent of its budget on subsidies to ensure ‘affordable’ energy prices