For many economies, 5G innovation promises an opportunity to scale the economic ladder in a technological arena that will undergird the connectivity-based and data-driven Fourth Industrial Revolution (4IR). But for major powers, 5G innovation is an emerging battlefield for technological, economic and military domination. For all its economic promise, this next-generation technology has the potential to be a nightmare in the making for ASEAN — an organisation that lists choosing sides between major powers as one of its most prominent concerns.
The Covid-19 pandemic is putting severe growth pressure on the CLMV economies -- Cambodia, Laos, Myanmar, and Vietnam -- and may cause the region's growth to slow a historical low, according to a Maybank Kim Eng report on Apr 28.
Thailand's cabinet will not consider on Tuesday whether Thailand will seek membership of an Asia-Pacific trade agreement, which could boost its economy hit by the coronavirus pandemic, due to widespread opposition.
The Asia-Pacific Economic Cooperation (APEC) region is expected to post a 2.7 percent economic decline in 2020 due to the impact of COVID-19.
ASEAN leaders have been urged to take urgent measures to ensure uninterrupted supply chain for essential food, intensify ASEAN-wide trade facilitation and plans for the gradual reopening of the economy to restore market confidence.
With uncertainties and increasing rivalry among major powers in the world, ASEAN, especially Vietnam, will need to rely on its own devices to drive growth this year, economists said.
The COVID-19 pandemic has crippled economies all over the world, with the International Monetary Fund (IMF) predicting the worst economic crisis since the Great Depression nearly a century ago.
The Thai government issued its third COVID-19 stimulus package on April 7, 2020, valued at 1.9 trillion baht (US$58 billion).
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
