12 Oct 2023
International Economy
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27 May 2021
China’s economic role in the CLMV has substantially increased over the past years, particularly in trade via a number of strategies, aimed at building its economic influence and physical connectivity, such as transportation infrastructure projects and special economic zones under its Belt and Road Initiative (BRI). The BRI has enabled the CLMV to attract Chinese companies to invest in establishing industrial clusters and service industries to meet their needs for urbanization. Concurrently, China’s attempts to promote institutional connectivity through various means, such as the relaxation of regulations for the benefit of international trade, have helped bolster the value of its international trade with the CLMV, as well. ... Read more
27 Apr 2021
It is projected that the global economy will record a solid recovery in post-pandemic 2021 as reflected by the International Monetary Fund’s decision to revise upward its 2021 growth forecast for the global economy to 6.0 percent from the prior estimate of 5.5 percent; the recovery will be led by large economies, particularly the US and China. This may in turn help boost CLMV economies that are heavily dependent on exports. However, benefits from bright prospects seen in the global economy to CLMV’s economic developments may vary depending on the degree of their connectivity to the global economy through various channels, such as exports, repatriations made by their workers, foreign direct investment (FDI) and tourism. Country-specific factors may determine their economic directions, as well. ... Read more
22 Dec 2020
In the latest currency manipulation report published by the US Department of the Treasury in December 2020, Vietnam was designated as a currency manipulator because it fulfilled three benchmarks set by the US. These include an intervention in the currency-exchange market as evidenced by Vietnam’s net foreign currency purchases, which were equivalent to 5.1 percent of GDP (exceeding the benchmark set at 2.0 percent of GDP). Vietnam also fulfilled the other two benchmarks: A bilateral trade surplus with the US of more than USD20 billion and a current account surplus at 2 percent of GDP. ... Read more
22 Apr 2020
The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports. Countries which are heavily dependent on foreign revenue are facing more negative effects during this crisis.... Read more
19 Feb 2020
The competiveness of Thai exports to CLMV has trended lower compared to dynamic exports of other Southeast Asian countries. Export share of other Southeast Asian countries in CLMV surged to over 50 percent in 2019, increasing from just 17 percent reported for 2018 or within only three years. The decline in Thai shipments to CLMV is attributable to the fact that such exports are largely commodities, e.g., refined petroleum products or gold, plus foods and beverages, consumer products, in particular bottled drinking water and fruits, which do not have high added value. ... Read more
16 Jan 2019
Thailand experienced the first time of its KR CLMV Economic Presence (CLMV-EPI) Index not being among the top three ranking since the fourth quarter of 2017, replaced by Japan at the third position as affirmed by its increasing role as a large investor in CLMV. Change in Japan’s direct investment in CLMV is remarkable, with more focus on the non-manufacturing sector especially in Cambodia and Myanmar,... Read more
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