While Southeast Asian economies have been fast expanding in the last decade, better than most regions, wealth and income inequality—i.e., the gap between the rich and poor—has been equally growing. The United Nations Economic and Social Commission for Asia and the Pacific (UN Escap) reports that “Southeast Asia has seen inequalities widen, a setback to...
Tag: Southeast Asia
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Southeast Asia’s economic perils
The easing of pandemic restrictions and the opening up of economies saw Southeast Asia’s growth for 2022 being calculated by the Asian Development Bank (ADB) at a higher 5.5% from an earlier estimate of 5.1% “on stronger-than-expected domestic consumption, exports and services, particularly tourism.” Downplaying the Philippines’ seemingly impressive 2022 growth of 7.6%, economist JC...
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Southeast Asia, democratic deficit
Southeast Asia is a favored region for investments and trade by developed countries seeking to rebound from the pandemic and other economic problems. In terms of its political indicators, however, the region is hobbled by varying levels of democratic deficits. Nikkei Asia observes that Southeast Asia remains “largely a fortress of authoritarianism, with military-based regimes...
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Has Southeast Asia reached a post-pandemic stage?
By mid-2022, governments worldwide had begun easing up on the severe Covid-19 restrictions and regulations imposed on their peoples and opening their countries to visitors. These moves were intended to ease the debilitating impact of Covid-related policies on the economies and social fabric of virtually all countries. Most economies suffered recession, companies went bankrupt, supply...
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Can Southeast Asia achieve sustainable tourism?
Southeast Asia has long been a preferred tourist destination due to its diverse and culturally rich settings, incredible sights, unique local cuisines, and affordability, as depicted by travel websites. For governments in the region, tourism is a major contributor to economic growth; the Asian Development Bank (ADB) estimates that it contributes “at least 15% to...