The World Bank has thrown cold water on Indonesia’s dream of becoming a high-income economy by 2045 and outlined some of the challenges middle-income countries face in making such a leap. According to government planning, achieving that target in time for Indonesia’s centenary of Independence would require annual gross domestic product growth of 6 to 7 percent over the next 20 years. “For middle-income countries to have high income in decades rather than centuries, it would need a miracle,” World Bank Group chief economist Indermit Gill said on Monday at a seminar held at the Finance Ministry’s Dhanapala Building in…
Author: Asia News Network
The number of patients suffering from malnutrition in South Korea has increased by nearly three times in the last five years, particularly among low-income households, data showed Tuesday. According to an official report from the National Health Insurance Service delivered to Rep. Jun Jin-sook of the Democratic Party of Korea, a total of 63,274 patients received treatment for malnutrition from 2019 to the first half of this year. The number of patients suffering from malnutrition increased significantly during the COVID-19 pandemic — which lasted about three years in Korea from January 2020 to May 2023 — leading to a sharp…
Self-driving vehicles are navigating from science fiction movies to the streets of large Chinese cities, overcoming obstacles and uncertainty as they enter everyday use. The fast-evolving technology first made headlines in China almost a decade ago. In 2015, Swedish carmaker Volvo organized a test of its hands-free vehicles traveling at 70 kilometers per hour on Beijing’s Sixth Ring Road. Chinese technology giant Baidu set up its intelligent driving group in 2017, unveiling its Apollo autonomous driving plan the same year. Pony.ai, founded by former Baidu engineers, established its first autonomous driving research and development center in 2016. By late February,…
Across Southeast Asia, from Manila to Bangkok and Phnom Penh, police are struggling to keep children safe from sexual exploitation and abuse, particularly online. Every day, millions of images and videos of children are shared on the internet, while authorities are increasingly at a loss of what to do. Behind these numbers are real girls and boys whose lives may never be the same again. Governments and law enforcement in ASEAN countries both can and must do more to stem this tide of abuse. Child sexual exploitation is rising alarmingly in the region; we need urgent action now. A meeting…
With all-out war in the Middle East a strong possibility, Thailand govt urged to hold talks with Cambodia on the overlapping claims area The National Economic and Social Development Council (NESDC) has advised the Thailand government to quickly discuss the overlapping claims area (OCA) with Cambodia to prepare for rising fuel prices due to conflicts in the Middle East that could expand into full-scale wars. The OCA is a 27,000 square kilometre section of the Gulf of Thailand that potentially holds massive quantities of natural gas and oil. The negotiation must focus on securing long-term energy stability for the mutual…
Vietnamese Prime Minister Pham Minh Chinh has signed a decision issuing the strategy for developing Vietnam’s semiconductor industry by 2030, with a vision to 2050. Accordingly, three distinct phases will be planned, with clear targets and specific numbers, including hundreds of new companies, to develop the country’s semi conductor industry. The development map was signed by Prime Minister Pham Minh Chinh on Saturday with a new strategy for developing Vietnam’s semiconductor industry by 2030, with a vision to 2050. The strategy outlines a roadmap for developing the industry according to the formula of C = SET + 1 (C stands…
Trade between ASEAN and its key partners, China, Japan and South Korea, reached a remarkable US$1,132.8 billion in 2023, representing 32.1 percent of ASEAN’s total trade value. This was revealed during the 27th ASEAN Economic Ministers (AEM) Plus Three Meeting, held in Vientiane, co-chaired by Laos’ Minister of Industry and Commerce, Mr Malaythong Kommasith; China’s deputy Minister of Commerce, Mr Li Fei; Japan’s Parliamentary deputy Minister of Economy, Trade and Industry, Mr Yoshida Nobuhiro; and Korea’s Minister for Trade Industry and Energy, Inkyo Cheong. Laos is serving as the 2024 ASEAN Chair under the theme “Increasing ASEAN Connectivity and Resilience”.…
Indian Prime Minister Narendra Modi has emphasised that the Quad should stand for upholding the international order based on the rule of law, respect for sovereignty and territorial integrity, and with a commitment to pursue peaceful resolution of disputes. He underlined that the Quad was here to stay, to assist, to partner and to complement the efforts of Indo-Pacific countries. Modi, who participated in the sixth Quad Leaders’ Summit in Wilmington, Delaware on September 21, said that a free, open, inclusive and prosperous Indo-Pacific was a shared objective of the Quad partners. “Free, open, inclusive, and prosperous Indo-Pacific is our…
In 10 years or so, there could be more funerals than baby showers to attend as the number of deaths outstrips births among Singaporeans. If – or when – this happens, Singapore’s population would shrink without immigration. This will have far-reaching consequences, including for the size of Singapore’s workforce and economic dynamism, say academics who study population issues. It will also have an impact on the caregiving burden and the social fabric, they noted. On Sept 9, Minister in the Prime Minister’s Office (PMO) Indranee Rajah said in a written reply to a parliamentary question: “Based on current trends, the…
India signed and exchanged the first-of-its-kind agreements focused on Clean Economy, Fair Economy, and the IPEF Overarching arrangement under Indo -Pacific Economic Framework (IPEF) for prosperity, Ministry of Commerce & industry said on Sunday. These agreements were signed in the presence of Prime Minister Narendra Modi who is on 3-day visit to the US for the Quad Summit. The Agreement on Clean Economy intends to promote technical cooperation, workforce development, capacity building, and research collaborations; and collaborate to facilitate development, access, and deployment of clean energy and climate-friendly technologies It aims to collectively accelerate efforts of IPEF partners towards energy…