The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between ASEAN and the five Asia-Pacific nations of Australia, China, Japan, Korea, and New Zealand. Together, these RCEP participating countries account for about 30% of the worldโs gross domestic product (GDP) and 30% of the worldโs population (2,252 million people). The RCEP Agreement has 4 significant features, as follows: 1) Modern: to improve the scope of t...
The global economy in the middle of 2021 has begun to recover in developed countries. Due to the reopening of many cities, the domestic demand accelerated, but at the end of the year 2021, there was an outbreak of the new variant of the COVID-19 called "Omicron" in more than 90 countries around the world, which caused people as well as investors around the world to be worried about the situation again. The Federal Reserve System (FED) has revised the US...
Recently, Natural Rubber tends to slow down in line with global economic growth. The COVID-19 outbreak severely affects the global economy and rubber demand by affecting supply chains and market disruption. In this regard, the International Tripartite Rubber Council (ITRC) held the 36th Meeting of ITRC on 22-23 November 2021, with Mr. Nakorn Tangavirapat, Governor of Rubber Authority of Thailand (RAOT), as the Chairman, Mr. Datuk Ravi Muthayah as the He...
The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) sub-regional economic cooperation was an initiative formed in 1993 by the governments of Indonesia, Malaysia, and Thailand. The goal of IMT-GT is to push the private sector of the member states to be leaders of trading and investment, leading to economic growth. Furthermore, it aims to support regional economic development by exploiting their economic advantages due to the similarity in geography,...
The world is currently experiencing a shortage of semiconductors or chips, which slows the production of various products that rely on chips to drive data processing, such as cars, trains, smartphones, other electronic devices, etc. Moreover, it is also a significant part of the automobile industry, which tends to be a big problem for automakers. The semiconductor shortage issue will require car manufacturers to cut millions of vehicle productions and l...
