Cambodia starts naval base upgrade project with China’s aid

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Cambodia on Wednesday broke ground on the construction of upgrades to the country’s naval capacity through the modernisation of Ream Naval Base, amid fresh speculation that China is “secretly building a naval facility” for its own “exclusive use”.

Cambodia starts naval base upgrade project with China's aid

The groundbreaking ceremony kicked off the construction project to rehabilitate the dry dock, pier and slipway along with the construction of a vessel maintenance workshop at the Modernization Centre of Ream Naval Base in Preah Sihanouk province. The construction is being paid for with a grant from China.

The ceremony was attended by a number of western and other diplomats who had partly been invited to allay their suspicions that China is secretly building a military base there. The envoys included Australian ambassador Pablo Kang and Indian ambassador Devyani Khobragade, among others.

Two days before the ceremony, the US-based newspaper Washington Post published an article that cited unnamed western and Chinese officials who said that the Chinese military would have “exclusive use of the northern portion of the base, while their presence would remain concealed”.

The accusation is not new. Back in 2019, The Wall Street Journal also reported that Cambodia and China had signed a 30-year secret agreement to allow the Chinese military to use the base, but all such accusations have been denied by Cambodian officials on various occasions, including by Prime Minister Hun Sen.

“I invited our friends to see that there is nothing going on like what is being alleged by people saying that the Ream Base modernisation is for the exclusive use of China’s People’s Liberation Army. It is not true, but they come to these conclusions anyways. It just isn’t possible,” said Minister of National Defence Tea Banh at the groundbreaking ceremony in front of an audience that included the aforementioned foreign diplomats.

“This is the territory of Cambodia. Cambodia has full rights to build whatever we want – and how much we need to modernise depends on the extent of our abilities and needs. Actually, we want to build it even bigger than this,” he added.

Currently owned by Amazon’s Jeff Bezos, The Washington Post is one of the largest newspapers in the world and its report has been widely cited by media around the globe.

Its reports also attracted the attention of Australian Senator Penny Wong, who was recently appointed as foreign minister. Wong then raised her concerns about it to the Minister of Foreign Affairs and International Cooperation Prak Sokhonn on June 7 during a phone call just after she assumed office.

The ministry said in a press statement that Sokhonn had tried to clear up Wong’s concerns, saying that these were groundless accusations against Cambodia made solely by anonymous sources.

Sokhonn said the Constitution does not permit foreign military bases or a foreign military presence on Cambodian soil. He also explained the necessity of the base’s renovations, which only served to strengthen the country’s own naval capacities so that Cambodia can protect its maritime integrity and combat crime on the high seas.

Cambodia starts naval base upgrade project with China's aid

“He touched on the gesture of goodwill offered by the Cambodian government in allowing the foreign military attaches from embassies in Phnom Penh to visit Ream Naval Base, which is an unprecedented practice in transparency by any country vis-a-vis one of its own military bases,” the statement said.

According to defence minister Tea Banh, the port at Ream Naval Base is currently too shallow at just 7m depth, but after its rehabilitation, it will be able to dock medium-sized vessels.

He said the ministry had invited foreign diplomats to see the project and ask their questions now because when the construction starts, they may not be able to visit every location on the base due to national security issues.

“On issues related to the military, there is no need for me to explain that I have to store the missiles here or I have to place the rockets there, or my maintenance workshop is here and our warehouse is there. No, that is not necessary.

Cambodia starts naval base upgrade project with China's aid

“I have been in the military for a long time now until my hair turned grey, and I have never seen anyone ask another nation’s military to do this or that. So this construction site will not permit open access in the future because after construction is completed, our equipment will be placed everywhere around here.

“This work should not be interrupted any further. Now you can see everywhere all together as a group,” he said. “Whoever wants to say something afterwards, it’s up to them … we, the owners, have the right to prepare and do what is necessary for national defence,” he said.

However, the minister made it clear that foreign guests could still visit the base if they requested to do so, but not the entirety of it due to national security issues. 

The renovation of the base uses both Cambodian and Chinese construction workers, and a Chinese construction company won the bidding to carry out the work, according to the defence minister.

He also hit back at The Washington Post for wrongly reporting that US Deputy Secretary of State Wendy Sherman had visited the base during her trip to Cambodia in June of last year.

“I’ll give another example. The Washington Post published an article saying that Wendy Sherman came to Ream. She never came here. And they said that information about Ream was shielded from her. It’s always so hard to explain anything to them,” he said.

According to a defence white paper published in May, Cambodia will not only modernise and upgrade Ream Naval Base but plans to do so in other areas of its national defence such as improving its capacity to combat terrorism and transnational crime, upgrading its disaster rescue training and equipment and further enhancing its capabilities for UN peacekeeping missions.

The defence minister also said that Cambodia will buy more modern and heavy military equipment from other countries to strengthen the country’s military capacity in accordance with Article 53 of the Constitution.

He said Cambodia does not intend to threaten or intimidate any country and the Kingdom has never rejected aid from other countries for the development of military capacities. Although the base is being upgraded with a grant from China, he said Cambodia welcomes other countries to help with upgrading the country’s military capacity.

“Cambodia is working to upgrade our defence capacity to ensure that we can withstand the pressure and the influence caused by [other nations’] geopolitical rivalries, which is currently happening. We do this to ensure that we can move forward with peace, security and prosperity while also being able to participate in peacekeeping in the region and around the world,” Tea Banh said.

Citing Article 53 of the Constitution, Tea Banh said Cambodia will remain neutral and non-aligned with any countries. He said the Kingdom welcomes and will always be open to supporting from other nations, without any preference or discrimination but with respect for their mutual interests.

“I stress again that Cambodia reserves its right to accept military equipment, weapons, ammunition, military training and other assistance for self-defence and to ensure national security and social order internally,” he said.

Chinese ambassador Wang Wentian was directly asked after the ceremony whether China would have the “exclusive” use of the northern portion of Ream Naval Base as stated in the Washington Post’s article.

“This project respects the laws of Cambodia. Honestly speaking, this project has mutual benefits for both countries. But some other countries criticise it and speculate about it. Some countries criticise it with bad intent. They say wrong things in order to do wrong things,” he said through a translator.

Wang also said it was not China that has the most overseas troops. The ambassador was apparently referring to the US, which reportedly has nearly 800 military bases in over 70 countries around the world.

“Honestly speaking, around the world, which nation has the largest military presence outside of its own territory? It is not China. And which country is always trying to increase its own influence, strength and power? It is not China,” he said, adding that China has never had any wish to achieve global dominance.

The Phnom Penh Post

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Published : June 09, 2022

By : The Phnom Penh Post

The latest news on what’s happening in the region

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Check out what’s hot in the region on June 8 as The Nation puts together headlines from members of Asia News Network (ANN). Click to read more:

The latest news on what's happening in the region
The latest news on what's happening in the region

Myanmar Crisis 
UN experts condemn Myanmar military’s “digital dictatorship” 


The Daily Star ( Bangladesh )
https://www.nationthailand.com/international/40016435

Port Laos
Laos’ international standard dry port receives funding boost 

Vientiane Times
https://www.nationthailand.com/international/40016433

Religion India 
Malaysia condemns suspended BJP spokesperson’s Prophet remarks 

The Star ( Malaysia )
https://www.nationthailand.com/international/40016431

Diplomacy Australia-Indonesia
Albanese’s surprise G20 vow 

Jakarta Post
https://www.nationthailand.com/international/40016434


Strike S Korea
Cargo truckers go on strike 

Korea Herald
https://www.nationthailand.com/international/40016429

Asia News Network: The Nation (Thailand), The Korea Herald, The Straits Times (Singapore), China Daily, Jakarta Post, The Star and Sin Chew Daily (Malaysia), The Statesman (India), Philippine Daily Inquirer, Yomiuri Shimbun and The Japan News, Gogo Mongolia, Dawn (Pakistan), The Island (Sri Lanka), Kuensel (Bhutan), Kathmandu Post (Nepal), Daily Star (Bangladesh), Eleven Media (Myanmar), the Phnom Penh Post and Rasmei Kampuchea (Cambodia), The Borneo Bulletin (Brunei), Vietnam News, and Vientiane Times (Laos).

Published : June 08, 2022

By : THE NATION

UN experts condemn Myanmar military’s ‘digital dictatorship’

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https://www.nationthailand.com/international/40016435


UN human rights experts have condemned the Myanmar military junta’s attempts to establish a “digital dictatorship” by imposing further restrictions on internet access, tightening web shutdowns and online censorship, surveillance and other barriers to online access.

UN experts condemn Myanmar military’s ‘digital dictatorship’

“The international community must not stand quietly by while the people of Myanmar are systematically denied their fundamental rights to freedom of expression, access to information and privacy, which are guaranteed by the international human rights law,” said the experts.

Thomas Andrews, special rapporteur on the situation of human rights in Myanmar; Irene Khan, special rapporteur on the promotion and protection of freedom of opinion and expression; Ana Brian Nougreres, special rapporteur on the right to privacy; and Clement Nyaletsossi Voule, special rapporteur on the rights to freedom of peaceful assembly and of association made the call in a joint statement on Tuesday.

“Online access to information is a matter of life and death for many people in Myanmar, including those seeking safety from indiscriminate attacks by the military and the millions trying to navigate a devastating economic and humanitarian crisis. The junta is using internet shutdowns and invasive surveillance to undermine widespread public opposition and prop up its attacks on the people of Myanmar,” the statement said.

The experts urged UN member states to condemn the junta’s policies to curtail fundamental freedoms online and offline and to adopt targeted sanctions against the military and military-linked companies, including sanctions restricting the sale or supply of dual-use surveillance technology.

They also urged member states and international donors to support civil society initiatives to counter censorship and surveillance in Myanmar.

Following the coup on February 1 last year, the junta imposed nationwide internet blackouts and blocked access to social media and messaging platforms. More recently, the junta imposed targeted internet shutdowns in areas where it faces strong resistance from opposition groups.

“Internet restrictions are being used by the junta as a cloak to hide its ongoing atrocities,” the statement said.

“The barriers to internet access impede efforts by journalists, human rights monitors and humanitarian organisations to collect evidence of human rights violations committed by the military or serve at-risk populations,” it went on.

“The lack of connectivity in large parts of the country also poses a challenge to our mandates, which depend on the collection of contemporaneous evidence of human rights abuses,” they said.

The statement said three out of four telecommunications companies operating in Myanmar have direct links to the military following Norwegian telecommunications company Telenor’s sale of its Myanmar operations in March. Telecommunications providers have come under heavy pressure to activate surveillance technology and hand over user data to police and military officials.

“The people of Myanmar need and deserve a strong international response to the junta’s assault on freedom of expression and access to information and violations of the right to privacy, which threaten the lives and wellbeing of millions. Member states must act swiftly to curtail the junta’s efforts to drag Myanmar back to a digital dark age,” it concluded.

The Daily Star

Asia News Network

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Published : June 08, 2022

By : The Daily Star

Aust PM’s surprise G20 vow, visa promise a boon to Indonesia – and Jokowi

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https://www.nationthailand.com/international/40016434


Australian Prime Minister Anthony Albanese’s unconditional assurance that he will attend the Group of 20 Bali Summit, as well as his promise to make it much easier for Indonesian citizens to obtain Australian visas, are likely the most attractive gifts for President Joko “Jokowi” Widodo.

Aust PM’s surprise G20 vow, visa promise a boon to Indonesia – and Jokowi

Albanese knew very well how to win his host’s heart during their first bilateral meeting, which took place at Bogor Palace on Monday.

These goodwill gestures from the newly elected Australian prime minister will help build a new phase in the two neighbours’ relationship. Even when Australia was ruled by the Conservative Party, Indonesia maintained good ties despite elements of distrust. Traditionally though, Indonesia feels more comfortable dealing with a Labor government, now headed by Albanese.

Albanese’s visa pledge comes as good news for many Indonesians, among whom Australia is one of the most popular destinations for travel, education and business.

More importantly, the Australian premier’s confirmed G20 summit attendance is a diplomatic coup for Jokowi. Getting all G20 leaders to attend the summit is his top priority, but Russia’s invasion of Ukraine could kill this ambition.

Some G20 leaders have threatened to boycott the Bali summit in retaliation for Russia’s invasion of Ukraine. As the host, Jokowi has invited Russian President Vladimir Putin, and surprisingly, Albanese assured Jokowi of his participation in the event, whether Putin attends or not.

The Sydney Morning Herald quoted the prime minister as saying that he would attend the summit “because the work of the G20 is critical at this time of global economic uncertainty”.

“I will work closely with President Widodo to help deliver a successful summit,” added Albanese in contrast to his predecessor, Scott Morrison, who had fallen in line with United States President Joe Biden’s call to exclude Russia from the annual summit.

British Prime Minister Boris Johnson and Canadian Prime Minister Justin Trudeau also joined the call, but Jokowi made it clear that as the holder of this year’s G20 presidency, Indonesia had no right to not invite a member to the meeting.

The Western leaders have toned down their stance, but only Albanese has openly affirmed his unconditional attendance at the summit. Jokowi will take it as a personal matter if one or several leaders decide to boycott the Bali meeting because of the Putin controversy.

Albanese also reiterated a development pledge of A$470 million (THB11.64 billion) over four years for Indonesia and the Asean region, as well as a $200 million partnership with Indonesia on climate and infrastructure. The development aid has not garnered much attention, however, because in the end the funds will primarily serve Australia’s interests.

The difficulty Indonesians experience in getting a visa to work, study or holiday in Australia has been a long-standing issue, particularly since around 200,000 Indonesians are currently studying in Australia.

According to the Herald, Jokowi raised the visa issue twice with Morrison. But progress has been very slow, while Australians have continued to enjoy Indonesia’s generous visa facility.

After a good start, President Jokowi needs to be more active in reaching out to Australia’s new government. A shared commitment to making the G20 summit a success is important capital for boosting the two countries’ ties.

The Jakarta Post

Asia News Network

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Published : June 08, 2022

By : The Jakarta Post

Laos’ international-standard dry port receives $67m funding boost

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https://www.nationthailand.com/international/40016433


The Thanaleng Dry Port, part of an integrated logistics facility Vientiane, has received new financing for its development and equipment costs to modernise and deliver world-class services.

Laos’ international-standard dry port receives $67m funding boost

The International Finance Corporation (IFC), as the lead arranger, has arranged a financing package of US$67 million to fund the development, construction, and equipment costs of the dry port, which is part of the country’s first-ever integrated Vientiane Logistics Park (VLP).

A signing ceremony for the financing took place on Tuesday at the dry port site.

Open for service since December last year, the dry port and logistics park is expected to set new standards for Laos’ logistics infrastructure and help drive cross-border trade, signalling a major shift from sea trade to road and rail for landlocked Laos.

Developed with IFC’s advisory and financing support, once completed, the Thanaleng Dry Port will offer access to efficient and cost-effective logistics services, increasing competitiveness and establishing a new trade hub in the Southeast Asian region.

Under the new financing, IFC, a member of the World Bank Group, will contribute US$27 million from its own account, with development finance institutions and international lenders providing the remaining amount.

A loan of US$21 million—part of the IFC-led financing package — will be provided through the Blended Finance Facility under the International Development Association’s private sector window, set up to catalyse investment in low-income and fragile countries.

The IFC-led funding follows its earlier advisory engagement in 2021, where it helped structure a build, operate and transfer project — under a 50-year concession agreement with the government — to attract experienced operating and financing partners.

IFC advised the project developer and sponsor, Sitthi Logistics Co Ltd, on strategies to mitigate various project risks and strengthen the project’s bankability. IFC also helped the client align the project to IFC’s performance standards — a widely adopted international benchmark for identifying and managing environmental and social risks.

“While long-term funding for infrastructure projects is not available locally, with IFC’s support the project has been structured in line with best international practices to make it bankable for global lenders,” said the chief executive officer of Sitthi Logistics Co Ltd, Chanthone Sitthixay, who is also chairman of Vientiane Logistics Park Co Ltd.

This critical infrastructure will facilitate a major increase in trade between China and Laos, as well as transit trade between China and Thailand, Malaysia, and Singapore, spurring a major shift from sea trade to road and rail passing through Laos with the completion of new cross-border railway lines in the next few years.

“This first of its kind project in Laos shows that well-structured projects, even in a small market like the Lao PDR, can unlock international funding, and serve as a valuable model for future infrastructure projects in Laos and other developing countries,” said Isabel Chatterton, IFC Infrastructure regional director for Asia and the Pacific.

Vientiane Times

Asia News Network

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Published : June 08, 2022

By : Vientiane Times

Malaysia condemns suspended BJP spokesperson’s Prophet remarks

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https://www.nationthailand.com/international/40016431


Malaysia has condemned derogatory remarks made against Prophet Muhammad by politicians in India and summoned the country’s High Commissioner.

Malaysia condemns suspended BJP spokesperson's Prophet remarks

Wisma Putra has conveyed the country’s anger over the incident.

“Malaysia welcomes the decision by the ruling party (in India) to suspend the party officials over their provocative remarks that have generated rage among Muslim Ummah,” said a Foreign Ministry statement.

It added that Malaysia also called upon India to join hands in ending Islamophobia and cease any provocative acts in the interest of peace and stability.

Bernama reported that Malaysia was the latest to join in the chorus of condemnation against two Bharatiya Janata Party (BJP) party officials over their blasphemous remarks as international outrage grows over the issue.

There has been condemnation within India as well. Following the outrage, India’s ruling BJP suspended the two leaders who made incendiary remarks on television and social media.

The United Arab Emirates (UAE), Oman, Indonesia, Jordan, Iraq, the Maldives, Bahrain and Turkey are among countries where the Indian politicians’ comments have been condemned.

“Indonesia strongly condemns unacceptable derogatory remarks against Prophet Muhammad by two Indian politicians. This message has been conveyed to Indian Ambassador in Jakarta,” said the Indonesian Foreign Ministry.

Qatar has asked for an Indian government apology over the comments.

The Iraqi Parliamentary Endowments and Tribes Committee said in a statement the anti-Islam insults “will have serious repercussions and, if not contained, may lead to dire consequences that will have unimaginable consequences for peaceful coexistence, as well as increase strife and tensions between peoples”.

Kuwait, Qatar, Iran, Saudi Arabia and Pakistan were among the first to make formal protests.

Cairo-based top Islamic institution Al Azhar said the derogatory words revealed a flagrant ignorance about Islam and the life and history of the prophets and messengers.

In the wealthy Gulf Arab region, there are public calls for a boycott of Indian products.

The 57-member Organisation of Islamic Cooperation (OIC) sees the BJP leader’s remarks as part of a wider pattern of Islamophobia and violence against the Muslim community in India.

In Turkey, the ruling Justice and Development Party (AK Party) spokesperson Omer Celik described them as an insult to all Muslims.

Asia News Network: The Nation (Thailand), The Korea Herald, The Straits Times (Singapore), China Daily, Jakarta Post, The Star and Sin Chew Daily (Malaysia), The Statesman (India), Philippine Daily Inquirer, Yomiuri Shimbun and The Japan News, Gogo Mongolia, Dawn (Pakistan), The Island (Sri Lanka), Kuensel (Bhutan), Kathmandu Post (Nepal), Daily Star (Bangladesh), Eleven Media (Myanmar), the Phnom Penh Post and Rasmei Kampuchea (Cambodia), The Borneo Bulletin (Brunei), Vietnam News, and Vientiane Times (Laos).

Published : June 08, 2022

By : The Star

Cargo truckers in S. Korea staged nationwide strike

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https://www.nationthailand.com/international/40016429


South Korea’s unionized cargo truckers staged a indefinite strike starting Monday midnight, marking the first major labour-government conflict since President Yoon Suk-yeol took office last month amid a worsening market economy and sharp price hikes here.

Cargo truckers in  S. Korea  staged nationwide strike

According to the union, a majority of the 25,000-member Cargo Truckers Solidarity, affiliated with the Korean Confederation of Trade Unions, and a large number of non-unionized truckers have joined the general strike. They are demanding that the government protect their wages through measures such as freight rate hikes. 

But the Transport Ministry played down the scale of the sit-in protest, saying only some 8,000 members have participated in the strike kick-off event held in the morning. 

The strike is set to last for an unspecified period of time.

President Yoon told reporters that he would respond to any kind of irregularities in accordance with the law and principles.

The government also issued an emergency transport measure across the country, dispatching the government’s transport trucks at hub logistics terminals. The ministry said the country’s 12 ports have been under normal operation as of Tuesday afternoon. 

According to industry insiders, the general strike caused logistics disruptions at several places on Tuesday, including the interruption of a cement shipment at a logistics terminal in Uiwang, Gyeonggi Province and other cement factories located in North Chungchung and Gangwon Provinces. Hyundai Steel’s Pohang factory also cancelled the shipment of 9,000 metric tons of their product due to a logistics disruption on the same day. Posco said of the 50,000 metric tons of steel products shipped on daily basis, 20,000 metric tons worth have been cancelled for shipment.

The country’s largest liquor maker HiteJinro said it has also temporarily suspended product shipment at its Cheongju factory. Another liquor maker, Oriental Brewery (OB), said it has only shipped 20 per cent of its usual amount.
Convenience stores have also adjusted their orders of liquor products. 

Emart24 said it has restricted its store owners to order only up to three boxes of 360-millimetre bottles of HiteJinro beers, while 7-Eleven has also limited up to one box each for soju products. 

This nationwide strike by cargo truckers has been widely expected since last month after they threatened to go on a strike with surging diesel prices destabilizing their livelihoods. 

They are demanding an extension of the Safe Trucking Freight Rates System, a program introduced in 2020 to prevent dangerous driving and guarantee minimum cargo rates for truck drivers. The system was adopted for a three-year run and will end on Dec. 31 this year. 

Cargo truckers also argue that the recipients of the Safe Trucking Freight Rates System should be expanded, as the current regulation only covers cargo trucks that carry containers and cement products. Some 26,000 of a total of 42,000 cargo truckers fall under this category. 

“Considering the impact that our strike would give to the national economy, we have tried our best to open a conversation with the government, but we have not heard anything back,” said an official from the union.

The government and the union held the first round of talks on Thursday last week but ended without reaching a compromise.

The government says the unionized cargo truckers lack the rationale to go on strike, hinting at taking strict countermeasures for causing logistics disruptions. 

“The (unionized cargo truckers’) strike will impose a huge burden on our economy and citizens here. We will treat any issues or irregularities that hamper logistics transportation with the law and its principles,” said Prime Minister Han Duck-soo.

The Korea Herald

Asia News Network

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Published : June 08, 2022

By : The Korea Herald

The latest news on what’s happening in the region

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https://www.nationthailand.com/international/40016407


Check out what’s hot in the region on June 7 as The Nation puts together headlines from members of Asia News Network (ANN). Click to read more:

The latest news on what's happening in the region
The latest news on what's happening in the region

S Korea Debt
Korea’s household debt highest among major economies

The Korea Herald
https://www.nationthailand.com/international/40016397

Vietnam Politics

Health minister and Hanoi leader expelled from Party for violations

Vietnam News
https://www.nationthailand.com/international/40016396

Cambodia Migrant workers
Migrant workers to Thailand total over 15,000 in first 5 months this year

The Phnom Penh Post 
https://www.nationthailand.com/international/40016380

Japan Politics
Kishida Cabinet’s approval rating remains robust at 64%

The Japan News
https://www.nationthailand.com/international/40016399

Malaysia Food
Food supply a global issue too: Malaysia PM

The Star ( Malaysia )
https://www.nationthailand.com/international/40016378

Asia News Network: The Nation (Thailand), The Korea Herald, The Straits Times (Singapore), China Daily, Jakarta Post, The Star and Sin Chew Daily (Malaysia), The Statesman (India), Philippine Daily Inquirer, Yomiuri Shimbun and The Japan News, Gogo Mongolia, Dawn (Pakistan), The Island (Sri Lanka), Kuensel (Bhutan), Kathmandu Post (Nepal), Daily Star (Bangladesh), Eleven Media (Myanmar), the Phnom Penh Post and Rasmei Kampuchea (Cambodia), The Borneo Bulletin (Brunei), Vietnam News, and Vientiane Times (Laos).

Published : June 07, 2022

By : THE NATION

Japanese cabinet’s approval rating soars to 64 per cent

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https://www.nationthailand.com/international/40016399



The cabinet of Japanese Prime Minister Fumio Kishida enjoys a 64 per cent approval rating, according to a recent nationwide public opinion survey conducted by the Yomiuri Shimbun, marking the third straight increase since an April poll.

Japanese cabinet’s approval rating soars to 64 per cent

The approval rating for the Kishida cabinet has remained high ahead of the House of Councillors election scheduled for next month. Strong support for the cabinet’s handling of diplomatic affairs and the novel coronavirus pandemic and the lack of any major errors are believed to have sustained the cabinet’s ratings.

The disapproval rating in the latest poll conducted from Friday to Sunday stood at 26 per cent, up from 23 per cent in the previous poll conducted from May 13-15.

The Cabinet had a 63 per cent approval rating in the previous poll. The rating in the latest poll is only two percentage points shy of January’s 66 per cent, the highest approval rating since the start of the Kishida cabinet.

In his summit talks with US President Joe Biden, Kishida laid out a stance of dealing strictly with China and Russia in cooperation with the United States, and 74 per cent approved of this.

During the talks, Kishida expressed his resolve for a “substantial increase” in Japan’s defence spending. More than half of the respondents approved of a defence spending increase, with 34 per cent approving of an increase ranging from 1-2 per cent of the gross domestic product and 19 per cent approving of an increase of 2 per cent or higher.

However, more than 40 per cent disapproved of higher defence spending, with 35 per cent responding that defence spending should remain at the current level and 6 per cent calling for a decrease.

With regard to Japan’s defensive capabilities, 72 per cent approved of strengthening them, up by eight points from the April poll in which the same question was asked. This indicates approval for strengthening defensive capabilities is not necessarily linked to approval for a defence spending increase.

The Yomiuri Shimbun used random digit dialling to conduct the poll, calling landline and mobile phone numbers of eligible voters age 18 and older nationwide. The latest poll obtained 1,060 valid responses from 425 landline phone users and 635 mobile phone users.

Asked which party they will vote for in the proportional representation race of the upper house elections scheduled for next month, 45 per cent of respondents said they will vote for the Liberal Democratic Party, up from 44 per cent in the May poll.

The figure is the highest since the January poll when this question was first asked. Nippon Ishin no Kai (Japan Innovation Party) followed with 9 per cent, down from 10 per cent in May, and the Constitutional Democratic Party of Japan with 7 per cent, down from 8 per cent in May.

In the June 2019 poll conducted directly prior to the previous upper house elections in July, 40 per cent said they would vote for the LDP, 10 per cent for the CDPJ and 6 per cent for Ishin.

The Japan News

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Published : June 07, 2022

By : The Japan News

South Korea’s household debt highest among major economies: report

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/international/40016397


South Korea’s household debt topped 104 per cent of the gross domestic product, marking the highest level among 36 major economies, the Institute of International Finance (IIF)’s data showed.

South Korea’s household debt highest among major economies: report

The country’s household debt fell to 104.3 per cent of GDP in the first quarter of this year from 105 per cent in the same period a year earlier, still outrunning rivals by a large margin, according to the report by the Washington-based private financial industry association released on May 18.

Household debt levels for the other surveyed economies remained below 100 per cent. Lebanon borrowed 97.8 per cent of its GDP in the first quarter this year, making it the second-most indebted country in the group.

South Korea’s corporate debt, which was the seventh-highest, rose to the second-highest in the same period, from 111.3 per cent to 116.8 per cent. Only Vietnam outpaced Seoul at 140.2 per cent this year, from 129.2 per cent last year.

Debt owed by the South Korean government this year accounted for 44.6 per cent of GDP, compared with last year’s 45.8 per cent, in what is seen as a relatively moderate debt burden that puts the country at 25 out of 36 countries surveyed.

But the IIF said South Korea was one of three countries alongside Vietnam and Thailand to have reported the largest increase in net borrowing between 2021 and 2022.

Global debt levels in the same period showed a sign of decline, with EU countries showing palpable improvements.

Helping small businesses

A week earlier, South Korea’s National Assembly approved an extra budget aimed at helping small businesses hit hardest by Covid-19, despite previous support budgets and concerns over red-hot inflation seeping into the economy and shrinking growth.

The Bank of Korea, which lifted interest rates three times this year, is expected to back more hikes beginning as early as July, amid rising prices prompted by a global surge in materials and food costs. The consumer price index rose 5.4 per cent in May from the previous year, hitting a 14-year high.

“We have to look for a soft economic landing because we know from experience that growing debt could destabilise everything,” BOK governor Rhee Chang-yong said.

The South Korean government is expected to revise its growth and inflation forecasts for this year. An official at the Finance Ministry suggested raising the inflation target to a 4 per cent range – double the projection made last year – while slashing the growth estimate to a 2 per cent range from the current 3.1 per cent.

The Korea Herald

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Published : June 07, 2022

By : The Korea Herald