Syndicate content

report

Bangkok's Skytrain an example of the good infrastructure and services Thailand needs

Pichaya Fitts's picture

It takes me just a few minutes to get to my office roughly two kilometers away. Before the Skytrain came along, the very same journey could take anywhere between 15-45 minutes.
At 2:30 p.m. on a weekday, the Skytrain in Bangkok, Thailand, was still pretty crowded. I squeezed myself into a small space near the doors, waiting to exit at the next stop. Suddenly, a cheery sound of music wafted through the air before a woman, standing not far from me, shouted a "Hello" into her tiny cellular phone.

"I'm on the train, two stops away from you," she told the caller. "Will get there in a heartbeat."

That got me thinking. Getting somewhere in a heartbeat was – at least until 1999 – a luxury no Bangkokian could afford (unless they owned a private helicopter). I remembered when this city's traffic jams topped the list of things that would come to mind when people thought of Bangkok. (The next down in that list would probably be air pollution, but that's a subject for a later discussion!).

Seeing the financial crisis: What might contraction look like in Cambodia?

Stéphane Guimbert's picture

Declining revenue of tuk-tuk drivers in Cambodia shows even the informal sector isn't insulated.
Growth forecasts in Cambodia are generating a fair bit of confusion. Many simply question whether it is possible for GDP growth to be lower in 2009 than in the past 15 years.

The World Bank today launches its projection of a 1 percent contraction of the Cambodian economy. This is based on an analysis of available statistics and feedback from a range of economic actors. Yet, to most of my Cambodian friends, it remains hard to conceive.

It is true that "seeing" such a contraction will be difficult. Basically, what it means is that economic activity in 2009 will be pretty much the same as in 2008. So the fact that we continue to have traffic jams in Phnom Penh, see tourists at the Royal Palace, and hear construction machines in many residential areas is consistent with such a projection. What will change, though, is that incomes will not increase this year as fast as past years and it will also become more difficult for the 250,000 young people leaving school each year to find their first job. What also will be different is that with no growth in aggregate, there will be a proportion of those with a livelihood at the end of the year worse than at the beginning.

East Asian and Pacific countries look to China for possible recovery, says World Bank report

James I Davison's picture

Despite a surge in joblessness and a regional drop of the forecasted GDP growth to 5.3 percent expected in 2009, developing East Asian and Pacific countries may be able to look to China for hope during the current global economic slowdown. That's according to the World Bank's April 2009 edition of the East Asia & Pacific Update, which was released today.

The latest half-yearly assessment of the region's economic health, aptly titled "Battling the Forces of Global Recession", says there have already been signs of China's economy bottoming out by mid-2009. China's possible subsequent recovery in 2010, concludes the report, could contribute to the entire region's stabilization, and perhaps recovery.

There are a number of ways to review the findings of the report on the World Bank's website. Head over to worldbank.org/eapupdate to view specific chapters or download the full report. For an intimate view of people who are being affected by the ongoing financial crisis in East Asian and Pacific countries – including Cambodia, Thailand, Mongolia and the Philippines – check out "Faces of the Crisis". You can also view hi-res graphs from the report here.

Also, check back here in the next day or so for blog posts written by World Bank economists based in Cambodia and Lao PDR.

UPDATE: For country-specific expert perspectives on the new World Bank repot, check out blog posts from World Bank economists based in Cambodia and Laos. Stéphane Guimbert considers what contraction might look like in Cambodia. And Katia Vostroknutova takes a look at Laos' economy, which is less affected by crisis, but faces the increasing challenge of sustaining growth during the crisis.

The destructive side of goats

Tony Whitten's picture

I hate goats. I’ll admit that I do love the feel of a good cashmere scarf or pullover, and have delighted in sensual cashmere socks I’ve been given. I am also partial to goat curry, goat kebabs, roast goat, and goat in a good wine sauce – though I lose my appetite on seeing a pop-eyed goat’s head staring at me out of a bowl of boiled goat bits at some of the meals I’m offered while on mission. And I do enjoy some nice goat cheese with a crisp cracker and celery.

Still, I hate goats.

Slower growth forecasted in East Asia – but things could be worse

James I Davison's picture

Upon releasing its half-yearly economic report of East Asia and Pacific early today, the World Bank is forecasting slower growth and intensifying economic turmoil in the region’s developing countries. But it could be worse, said Jim Adams, World Bank vice president for the East Asia and Pacific region, quoted in an AP article.

World's most competitive countries report - Asia "looks like an unstoppable force"

Claudia Gabarain's picture

BusinessWeek reports that an annual study by one of Europe's top business schools indicates that Asian economies are overtaking the U.S. and Northern Europe to become the most competitive in the world.

Pages