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Daily coronavirus cases break 1,000 mark for 1st time, toughest distancing under review (nationthailand.com)

Daily coronavirus cases break 1,000 mark for 1st time, toughest distancing under review

Dec 13. 2020A medical worker collects a specimen from a student at a screening station in Ulsan, 414 kilometers southeast of Seoul, for COVID-19 testing on Saturday. (Yonhap) 

By Korea Herald

South Korea’s single-day coronavirus cases broke the 1,000-mark for the first time on Sunday, raising pressure on authorities to enforce the highest level of social distancing to slow down the virus spread.

The country added 1,030 more COVID-19 cases, including 1,002 local infections, raising the total caseload to 42,766, according to the Korea Disease Control and Prevention Agency (KDCA).

Sunday’s daily caseload jumped from the previous day’s record high of 950, marking the highest since the country reported its first COVID-19 case in January.

The number of daily new cases remained around 400 to 600 earlier this month, but it shot up to over 900 on Saturday and broke through 1,000 on Sunday, raising alarm among authorities.

Cluster infections from private gatherings coupled with massive infections at a church and a hospital in the metropolitan area pushed up the tally from the previous day.

Health authorities raised social distancing measures to Level 2.5, the second highest under the five-tier virus restrictions, earlier this week, but it has failed to slowed the virus so far.

In response to a sharp uptick in new cases, President Moon Jae-in on Saturday referred to the COVID-19 situation as an “emergency” and ordered authorities to mobilize all resources to contain the virus.

Prime Minister Chung Sye-kyun also said the government will have no choice but to raise the antivirus rules to the highest level unless the spread of the coronavirus is curbed.

Authorities can adopt Level 3 when locally transmitted cases surge to 800 to 1,000 or the daily tally doubles from the previous day.

The average daily cases over the past week stood at 662, falling below the requirement.

Level 3 social distancing is less stringent than the lockdown measures adopted in the United States and Europe, but it is aimed at effectively minimizing social and business activities in a wide range of areas.

The toughest virus restrictions ban gatherings of 10 people or more, including all sporting events, while schools can only offer online classes.

People are advised to stay at home as much as possible, and companies are required to have nonessential employees work from home.

The greater Seoul area — home to half of the country’s 51 million population — accounted for the most of the cases.

The capital city of Seoul registered 399 new cases, while surrounding Gyeonggi Province and Incheon, west of Seoul, had 331 and 62, respectively.

The number of seriously or critically ill COVID-19 patients came to 179.

KDCA reported two additional deaths, raising the total to 580.

The number of people released from quarantine after making full recoveries came to 321, raising the total to 31,814. (Yonhap)

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UK-VN free trade deal a new beginning for bilateral ties: UK trade secretary (nationthailand.com)

UK-VN free trade deal a new beginning for bilateral ties: UK trade secretary

Dec 12. 2020Prime Minister of Việt Nam Nguyễn Xuân Phúc (right) and the visiting UK trade secretary Elizabeth Truss had an elbow greeting as they met in Hà Nội on Friday. — VNA/VNS Photo Văn Điệp 

By Viet Nam News/ANN

HÀ NỘI — Vietnamese Prime Minister Nguyễn Xuân Phúc had talks yesterday in Hà Nội with UK trade secretary Elizabeth Truss, who was visiting to sign the agreed minutes on the conclusion of UK-Việt Nam Free Trade Agreement (UKVFTA) negotiations.

“We have a profound trust in the bright prospects for co-operation between the two countries,” PM Phúc said, noting that there are many investment projects by the UK doing well in Việt Nam while there is ample room for growth in bilateral trade.

The Vietnamese Government always put a high priority on UK-led projects in Việt Nam, PM Phúc said, adding that the visit by the British politician would be a great opportunity for the two sides to discuss measures to foster bilateral ties.

UK trade secretary Truss expressed her delight to visit Việt Nam – now the third time she has been to this “wonderful country” – and to attend the signing of the agreement on concluding negotiations of the UKVFTA.

The deal would mark a new beginning in bilateral relations, she said, asserting that the two Governments would help facilitate the works post-negotiation as well as help the business community take advantage of the deal once it becomes effective.

She expressed her strong belief that the deal would bring practical benefits for both Việt Nam and the UK.

The UK trade secretary thanked Việt Nam for backing the UK’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), saying this serves as a vivid testament to Việt Nam’s commitment towards free trade amid the trend of protectionism in many countries.

The UK was determined to promote free trade and economic recovery especially given the context of the COVID-19 pandemic, she affirmed.

Truss said the UK was pursuing the goal of a green economy, evidenced by its hosting of the UN climate change summit COP26 in 2021 and the UK government’s commitment to the target of hitting net-zero carbon emissions by 2050.

She said the UK was willing to help Việt Nam in building its National Power Development Plan VIII (for 2021-30) as the UK has plenty of experience in wind power development.

The UK trade secretary said she was impressed with the economic growth of Việt Nam during the COVID-19 pandemic, which she attributed to the free trade policies of the Vietnamese Government.

Truss said the COVID-19 pandemic had shown the global supply chains had been highly dependent on a few countries, and the UK was hopeful it could diversify its supply chains and investment activities via free trade agreements, adding that the UK considered Việt Nam a trusted and reliable partner.

The UK is seeking to enhance ties with Việt Nam not just in the health sector, especially pharmaceuticals, but also in green technologies, finance, digital economy and data, according to the secretary.

The Vietnamese Government leader said Việt Nam and the UK had a rich tradition of co-operation in many fields.

While the UK was still in the European Union (EU), Việt Nam and the EU signed the Europe-Việt Nam Free Trade Agreement (EVFTA), but now as the UK was leaving the bloc, Việt Nam and the UK should have their own bilateral FTA, Phúc said.

He also reiterated Việt Nam’s support for the UK to join the CPTPP and free trade in general.

PM Phúc said economic activities in Việt Nam were “robust and lively,” and the country had managed to maintain positive economic growth while keeping COVID-19 under control.

The Vietnamese Government leader stated the confidence between the two countries had stood the test of time and bilateral ties would certainly grow stronger.

Regarding COP26, PM Phúc said Việt Nam was committed to playing a responsible part in the global fight against climate change.

PM Phúc appreciated the UK’s stance on the maintenance of security and safety and freedom of navigation and flight in the South China Sea (known in Việt Nam as the East Sea).

PM Phúc extended his invitation for UK Prime Minister Boris Johnson to visit Việt Nam at the earliest possible time. — VNS

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Bars, clubs look to avoid being sources of infections amid shorter hours in Japan (nationthailand.com)

Bars, clubs look to avoid being sources of infections amid shorter hours in Japan

Dec 12. 2020An employee sanitizes a table at a bar in Chuo Ward, Tokyo, earlier this month. (The Yomiuri Shimbun) 

By Kayo Yamada and Karin Sato
Yomiuri Shimbun/ANN

During the state of emergency declared in spring, designated businesses in Tokyo were asked to close by 8 p.m. When the second wave of infections emerged in August and September, establishments serving alcohol and other businesses were asked to shut their doors by 10 p.m. Now with the third wave of infections comes a third request to close earlier than usual.

As these establishments scramble to cope with official requests to operate for shorter hours to help combat the spread of the novel coronavirus, they are attempting to get through these times by transforming into venues that customers feel they can visit with peace of mind.

■ Paying for tests

Yumi Ito, the owner of a members-only nightclub in the Ginza district of Tokyo, is leaving no stone unturned to ensure her establishment does not become a source of coronavirus infections.

“All my customers hold a prominent position in their respective organizations,” said Ito, 61. “I must make sure my bar does not become a place where the virus spreads.”

Ito closed her club for about two months from early spring. In June, just before reopening her business, she made all of her about 30 employees, including hostesses, who entertain customers, and male staffers, have a checkup at a medical facility in the Tokyo metropolitan area. Her staff all tested negative for the coronavirus, though the cost for Ito was about ¥300,000.

“It was a necessary expense,” Ito said, “because it helps customers feel more reassured when they come to my club,”

Ito is among the growing number of operators in the hospitality industry across Japan taking their own steps — in addition to temperature checks and ventilating their premises — to prevent staff and customers from catching and spreading the virus.

After Ito’s club reopened, staffers and customers had their temperature taken and surfaces were thoroughly sanitized. Acrylic partitions were installed between tables. Ito managed to get through the request for shortened operating hours this summer. Customer numbers were finally starting to recover when the third request to close earlier was issued.

Ito now closes her club at 10 p.m., in line with the official request. Normally, her club would still have many customers at that hour. Shutting early stings especially sharply at this time of year when year-end parties would normally be in full swing.

“I’m sure our customers will come back if we make their safety our top priority,” Ito said. She plans to make all her employees undergo further health checks.

■ Online patrons

Ginza Shakoinryou Kyokai, an association of restaurants and bars in Ginza, had about 1,100 member establishments in March. The pandemic has battered many of these establishments, with the association now having about 1,000 members.

G.S.K. urges its members to ensure employees undergo regular coronavirus testing, and senior officials go around these establishments to encourage the owners to implement comprehensive infection prevention measures.

Association head Yuichi Hoshi manages six bars that have a combined 25 employees and all get tested every month.

“Getting the whole district working together to prevent infections will help Ginza stay vibrant,” said Hoshi, 63.

In Osaka, where businesses have been requested to close by 9 p.m., some owners have switched to online operations.

At her small bar in the city’s Minami entertainment district in Chuo Ward, owner Marie Iguchi held a glass in one hand while talking with a customer via video on her smartphone. A one-hour, one-on-one session costs ¥2,500 and is by reservation only.

Although the income the 29-year-old Iguchi earns through this online service pales in comparison to what her bar brings in when it is open, she remains upbeat.

“I’ve got do what I can to keep my business afloat,” she said.

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South Korea mobilizes Army, police to ramp up COVID-19 contract tracing (nationthailand.com)

South Korea mobilizes Army, police to ramp up COVID-19 contract tracing

Dec 12. 2020Medical workers attend to a COVID-19 patient in an intensive care unit at Gangwon National University Hospital. (Yonhap) 

By Park Han-na
The Korea Herald/ANN

Hundreds of Army and police personnel will be dispatched to break the chain of infection of the novel coronavirus, which has seen an average of more than 600 cases diagnosed each day over the past week here.

Despite the government’s stronger social distancing measures implemented from earlier this week, cases have continued to grow daily with no signs of abating.

Sharp upticks in new cases, which began in mid-November and centered on Seoul and surrounding areas, have drawn concerns that the third wave of COVID-19 infections the country is seeing would take a greater toll than the previous crises the country experienced earlier in the year.

Prime Minister Chung Sye-kyun vowed to put all-out efforts into combatting the surge of COVID-19 infections in the Seoul metropolitan area to prevent the spread of the virus to other less affected regions.

“We will dispatch 800 personnel of military, police and civil servants to each region of the metropolitan area to support epidemiological investigations,” he said in a Central Disaster and Safety Countermeasure Headquarters meeting.

The push for epidemiological investigations comes as health authorities struggle to slow the infection rate, with an increasing number of patients with unknown transmission routes.

The proportion of cases with unknown transmission routes stood at 20.5 percent, or 1,609 of the total new cases that have been confirmed in the last two weeks since Nov. 27.

The figure has been on an upward trend in recent days from 17.8 percent on Dec. 7 to 20.5 percent Thursday, making it more challenging to identify chains of infections.

On Friday, the country reported 689 more cases, according to the Korea Disease Control and Prevention Agency, hitting the second-highest figure since January, when the country reported its first confirmed COVID-19 case.

The total caseload now stands at 40,786. Eight additional coronavirus deaths were reported, raising the death toll to 572.

Of the new cases, those detected in Greater Seoul accounted for over 75 percent, with 252 confirmed in Seoul, 229 in Gyeonggi Province and 37 in Incheon.

The number of patients in critical condition has been steadily increasing from 97 on Dec. 1 to 169 on Friday.

The government plans to secure 1,000 more hospital beds, mainly at public hospitals in Seoul and nearby areas, and operate them from next week.

To prepare for further surges in demand for care, the government will designate more specialized infectious disease hospitals in addition to those picked by regional governments.

Bed capacity for patients with severe cases of COVID-19 has reached saturation. Of 583 critical-care beds across the country, only 52 are available.

”We have acquired 210 beds for COVID-19 patients and plan to expand the number to 331 by the end of the year. Works are underway to increase the number of critical-care beds in the Seoul metropolitan area to 215 until the year-end,“ Yoon Tae-ho, a senior Health Ministry official, said during a briefing.

The Seoul Metropolitan Government said Friday that 14,076 people underwent diagnostics tests on Thursday, the largest number ever recorded in the capital.

“We are not in a situation to see any delays in testing as not only the city government but also private companies are performing tests,” said Park Yoo-mi, a disease control official at the city government.

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S’pore to lift border restrictions for visitors from Taiwan from Dec 18 (nationthailand.com)

S’pore to lift border restrictions for visitors from Taiwan from Dec 18

Dec 12. 2020Photo from Ong Ye Kung’s facebook page. 

By Toh Ting Wei
The Straits Times/ANN

SINGAPORE – Visitors from Taiwan will be able to come into Singapore for all forms of travel and not be quarantined from next Friday (Dec 18), provided they test negative for Covid-19 on arrival.

The same applies to Singapore citizens, permanent residents and long-term pass holders returning from Taiwan, the Civil Aviation Authority of Singapore (CAAS) said on Friday (Dec 11), as it announced the Republic’s decision to unilaterally open its borders to Taiwan.

“Taiwan has a comprehensive public health surveillance system and has displayed successful control over the spread of the Covid-19 virus,” said the CAAS.

“Over the past 28 days, Taiwan has zero local Covid-19 cases. The risk of importation from Taiwan is low.”

Visitors from Taiwan can apply for an air travel pass for entry into Singapore from Dec 18. They will have to adhere to a few requirements such as flying to Singapore on direct flights, using the TraceTogether app, and paying for their medical bills related to Covid-19, if any.

The CAAS will also update Singapore’s travel advisory to allow for travel to Taiwan.

The opening is unilateral, as restrictions in Taiwan remain in place, with leisure and social visits by foreign nationals currently banned.

Taiwanese citizens who want to travel out of the territory can do so. But they will have to get a certificate proving them to be clear of the Covid-19 virus within three days prior to their return flight to Taiwan. 

They will then be tested again upon arrival in Taiwan, and will have to be quarantined for 14 day afterwards. 

Taiwan is the sixth place that Singapore has unilaterally opened up to, after Australia, Brunei Darussalam, mainland China, New Zealand and Vietnam.

The CAAS said that as at 11.59pm on Thursday, it had approved 9,284 applications for visitors from these places, and received 4,050 visitors.

As at 11.59pm on Wednesday, all visitors who arrived in Singapore under the air travel pass scheme have tested negative for Covid-19.

Transport Minister Ong Ye Kung said in a Facebook post that the opening of borders to Taiwan was another step in opening Singapore’s borders.

He noted that Taiwan had also recently classified Singapore as a low risk country. As such, the territory had reduced the quarantine for essential and business travellers from the Republic to five days.

Mr Ong added: “With the festive period, I hope the reopening arrangements will be useful for families and loved ones to reunite.”

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Bangladesh, 10 Other Asian Nations: Fast-track vaccine distribution (nationthailand.com)

Bangladesh, 10 Other Asian Nations: Fast-track vaccine distribution

Dec 12. 2020

By The Daily Star/ANN

Urges WHO; ADB launches $9b Covid vaccine initiative for Asia Pacific

The World Health Organization yesterday said it wants fast and equitable distribution of Covid-19 vaccine in South and Southeast Asian countries, including Bangladesh, where a second wave of the coronavirus outbreak looms large.

“The vaccine manufacturing and regulatory sectors have a critical role to play in equitable and efficient deployment of vaccines,” said Dr Poonam Khetrapal Singh, regional director of WHO’s South-East Asia Region, at a two-day virtual meeting, according to a WHO statement.

In another development, the Asian Development Bank launched its $9 billion Asia Pacific Vaccine Access Facility  which will offer rapid and equitable support to its developing members in the hope of breaking the chain of virus transmission, saving lives and restoring economies.

The WHO meeting involved vaccine manufacturers and regulators.

There are widespread fears that the poor countries will lag behind in terms of accessing the vaccines.

Dr Khetrapal said all countries in the region are now developing and finalising national deployment and vaccination plans, of which regulatory preparedness is a core component.

She emphasised on effective coordination, collaboration and information-sharing at all stages among the stakeholders.

“Countries in our Region are among the world’s largest vaccine manufacturers, and the vaccines produced here are likely to be administered to billions of people globally. I am certain that together, in solidarity with all people of the Region and world, you will effectively contribute to health and well-being of all,” Dr Khetrapal Singh said.

THE ADB INITIATIVE

The announcement of ADB’s $9 billion initiative Asia Pacific Vaccine Access Facility (APVAX) came yesterday.

“As ADB’s developing members prepare to vaccinate their people as soon as possible, they need financing to procure vaccines as well as appropriate plans and knowledge to be able to safely, equitably, and efficiently manage the vaccination process,” said ADB President Masatsugu Asakawa in a statement yesterday.

“APVAX will play a critical role in helping our developing members meet these challenges, overcome the pandemic, and focus on economic recovery.”

More than 14.3 million positive cases have been identified in Asia and the Pacific, causing over 200,000 deaths. As the pandemic persists, economic growth in developing Asia is projected to contract by 0.4% in 2020, the first regional gross domestic product contraction since the early 1960s.

The APVAX provides a comprehensive framework and resource envelope for supporting developing Asia’s vaccine access.

“This may include such areas as cold-chain storage and transportation, vehicles, distribution infrastructure, processing facilities, and other physical investments. The component may also be used to develop or expand vaccine manufacturing capacity in developing members.”

ADB financing for vaccines will be provided in close coordination with other development partners including the World Bank Group, World Health Organization, COVID-19 Vaccines Global Access Facility (COVAX), GAVI, and bilateral and multilateral partners.

“Additional access criteria, such as a vaccination needs assessment, a vaccine allocation plan by the developing member, and a mechanism for effective coordination among development partners also help ensure that vaccine support under APVAX can be fairly and effectively implemented.

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Singapore, UK ink free trade deal with eye on digital economy talks in 2021 (nationthailand.com)

Singapore, UK ink free trade deal with eye on digital economy talks in 2021

Dec 11. 2020The UKSFTA was signed in Singapore by Minister for Trade and Industry Chan Chun Sing (right) and UK Secretary of State for International Trade Elizabeth Truss. PHOTO: MTI 

By Ovais Subhani
The Straits Times/ANN

SINGAPORE – Singapore signed a free trade agreement (FTA) with the United Kingdom on Thursday (Dec 10) to ensure that companies from both countries continue to enjoy the same benefits that they are receiving under the Republic’s FTA with the European Union.

The agreement will cover more than £17 billion (S$30.4 billion) of current bilateral trade in goods and services.

The two countries also agreed to assess the modules of a UK-Singapore digital economy agreement (DEA), with a view to launching negotiations on the DEA in 2021. They also committed to start talks on and conclude an investment protection agreement within two and four years respectively of the FTA’s entry into force.

The FTA was signed in Singapore by Minister for Trade and Industry Chan Chun Sing and UK Secretary of State for International Trade Elizabeth Truss.

Speaking at the event, Mr Chan noted that the UK is Singapore’s third and second-largest trading partner for goods and services respectively, as well as its top investment destination in Europe. In turn, Singapore is the UK’s largest trade and investment partner in South-east Asia.

As the first FTA between the UK and an Asean member state, it represents the UK’s deepening engagement of the region, and provides British businesses a platform to access opportunities in the region through Singapore, said Mr Chan.

“In these volatile times, the UKSFTA provides Singapore and UK businesses the certainty they need to find and access new growth opportunities,” he added.

The deal’s immediate and tangible benefits include tariff elimination for 84 per cent of all tariff lines for Singapore exports to the UK upon the UKSFTA’s entry into force, with virtually all remaining tariffs eliminated by Nov 2024 – the same timeline under Singapore’s FTA with the EU (EUSFTA), said Mr Chan.

It will also enhance market access for Asian food products made in Singapore, such as har gow (prawn dumplings) and sambal ikan bilis (spicy crispy anchovies), he added.

“We hope this will allow our UK friends to try more of our distinctive Asian food products,” said Mr Chan.

Ms Truss, in an interview with The Straits Times, said the FTA will come into force on Jan 1 next year, which is when the UK leaves the transition period for its exit (Brexit) from the EU.

“We want to secure a Canada-style deal with the EU, but if we are not able to secure that we will trade with the EU on Australian style terms. Neither of those, two arrangements will affect the deal with Singapore, the deal with Singapore is done,” she said in the interview.

A Canada-style pact will get rid of most but not all tariffs, while an Australian-style agreement is basically no trade deal at all and will fall back on World Trade Organisation terms.

The Ministry of Trade and Industry (MTI) in a statement issued after the signing of the FTA said the benefits of the UK-Singapore FTA include tariff elimination for goods trade, and increased access to respective services and government procurement markets.

The FTA will provide Singapore and UK companies with certainty and clarity in trading arrangements between both countries by reducing non-tariff barriers in at least four major sectors – electronics, motor vehicles and vehicle parts, pharmaceutical products and medical devices, and renewable energy generation.

The trade deal will also support the regional operations and supply chains of companies in the UK and Singapore.

In line with the current arrangement under the FTA with the EU, companies in UK and Singapore can continue to use materials and parts sourced from the EU-27 and Asean in their exports to each other’s markets – dubbed as Asean cumulation.

Similar to the EUSFTA, the UK-Singapore FTA requires Asean countries to provide undertakings of cooperation and compliance in order to allow for Asean cumulation.

Once the relevant cumulation arrangements are put in place, Singapore exports using Asean materials and parts can qualify for preferential tariff treatment when entering the UK.

“This will strengthen Singapore and the UK’s roles as business hubs in our respective regions,” MTI said.

As the first FTA between the UK and an Asean member, the UK-Singapore FTA will also serve as a pathfinder for the UK’s engagement of the Asean region, said MTI.

The proposed UK-Singapore DEA will also serve as such for modern rules on digital trade and financial services between Europe and South-east Asia.

“It (DEA) will facilitate more seamless digital trade and business between the UK and Singapore by promoting cross-border digital connectivity and interoperability of digital standards and systems,” MTI said.

The UK has indicated its interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which Singapore supports and welcomes.

In addition to the FTA, the UK and Singapore have also committed to commence negotiations and endeavour to conclude a high standard investment protection agreement within two and four years respectively of the UK-Singapore FTA’s entry into force.

“This will ensure that bilateral investments are covered by robust and up-to-date treaty safeguards, as well as provide businesses and investors with the certainty of investment protection,” MTI said in its statement.

Singapore and the UK will now work on their respective ratification processes for the entry into force of the UK-Singapore FTA, MTI said without giving a timeline for the ratification process.

Mr Ho Meng Kit, chief executive officer of the Singapore Business Federation, said the FTA will allow businesses here to enjoy greater certainty and assurance after Britain’s exit from the EU.

“However, businesses should note that UK’s independent trade regulations may differ from that of the EU’s. They will also need to ensure that they comply with changes in UK’s domestic standards and Customs procedures,” he said.

“We look forward to working with both governments to support businesses coping with these changes, particularly those which may be using the UK as a hub to re-export to Europe or to offer services to EU customers.” 

The British Chamber of Commerce Singapore said on Thursday that having this agreement in place at this time will “provide a sense of confidence for the business community, so that they may make critical decisions, strengthen their workforces, invest for the future and continue to grow”.

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Failure to provide vaccine to developing world will have major effects on Japan: Gates Foundation report (nationthailand.com)

Failure to provide vaccine to developing world will have major effects on Japan: Gates Foundation report

Dec 11. 2020

By The Japan News/ANN

The Bill & Melinda Gates Foundation has estimated that if a novel coronavirus vaccine is not distributed to developing countries in regions such as Africa and Asia, the Japanese economy will suffer a loss of about ¥1.4 trillion over the next five years.

The report was presented during the online GZERO Summit on Wednesday. The foundation established by Microsoft Corp. founder Bill Gates and his wife Melinda commissioned the Eurasia Group, which hosts the summit, to compile the report.

The report pointed out that if the spread of COVID-19, the disease caused by the virus, does not stop in developing countries, there will be fewer tourists and students coming to Japan and fewer Japanese manufacturing exports. It also called for an equitable supply of vaccines to developing countries, saying that a pandemic cannot be overcome by a single country. The report stresses that Japan should play a leading role in international cooperation frameworks such as COVAX, through which several countries jointly purchase vaccines to provide access to them for other countries.

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S. Korea ‘very encouraged’ by signs from Biden administration: Kang (nationthailand.com)

S. Korea ‘very encouraged’ by signs from Biden administration: Kang

Dec 11. 2020South Korean Foreign Minister Kang Kyung-wha (Yonhap) 

By The Korea Herald/ANN

WASHINGTON — South Korea is “very encouraged” by signs coming from the incoming US administration regarding the South Korea-US alliance and cooperation, South Korean Foreign Minister Kang Kyung-wha said Thursday.

Kang also said working with the incumbent US administration of President Donald Trump has been great but challenging.

“We are very encouraged by the signs coming from the new incoming administration, although we are not able to coordinate or collaborate because this is time of the transition, and we want to preserve and respect that space for the incoming administration,”

Kang said in a webinar hosted by the Washington-based Aspen Institute.

Kang’s remarks come about six weeks before US President-elect Joe Biden is set to be inaugurated on Jan. 20.

The top South Korean diplomat said cooperation with the US under Trump may have reached a record high, in terms of volume, but that it has been challenging.

“The Trump administration, I think, in terms of the sheer volume of collaboration has been extraordinarily vast and deep. The unconventionalness of the president and his inner circle may have been a challenge because of the unconventional uniqueness,” she told the webinar.

“But I think we were still able to closely consult on alliance issues, such as the SMA,” she added, referring to the Special Measures Agreement that partly sets South Korea’s share of the cost in maintaining 28,500 US troops on the peninsula.

SMA negotiations have been and continue to be deadlocked due to a wide gap over how much of a burden Seoul should shoulder.

South Korea has offered to increase its burden-sharing by up to 13 percent from the $870 million it paid under last year’s agreement, but the US is said to be demanding a 50 percent hike to $1.3 billion a year.

Biden, in an op-ed piece contributed exclusively to Yonhap News Agency, has said he will not seek to “extort” US allies.

Kang noted renewing the SMA will probably be “one of the first issues that we will have to work on with a new administration.”

“But we have always been confident about the appreciation on the side of the US administration for the strategic importance of the alliance that they share with our country … and we very much hope to have the very close dialogue on how to promote that further, strengthen that with the incoming administration,” she said. (Yonhap)

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ADB lifts developing Asia’s 2020 outlook to -0.4% from -0.7% (nationthailand.com)

ADB lifts developing Asia’s 2020 outlook to -0.4% from -0.7%

Dec 11. 2020

By Xinhua/China Daily/ANN

MANILA – Economic activity in developing Asia, a group of 45 nations in the Asia-Pacific,  is forecast to contract by 0.4 percent this year before picking up to 6.8 percent in 2021 as the region moves toward recovery from the effects of the COVID-19 pandemic, according to an Asian Development Bank (ADB) report released on Thursday.

The new growth forecast, presented in a regular supplement to the Asian Development Outlook (ADO) 2020 Update, is an improvement from the -0.7 percent gross domestic product (GDP) growth forecast in September, while the outlook for 2021 remains unchanged.

This year’s expected decline would be the region’s first in nearly six decades.

While the ADB sees an improvement, it said in the report that prospects are diverging within the region, with East Asia set to grow this year while other subregions are contracting.

“The outlook for developing Asia is showing improvement. Growth projections have been upgraded for China and India, the region’s two largest economies,” ADB Chief Economist Yasuyuki Sawada said in a statement.

“A prolonged pandemic remains the primary risk, but recent developments on the vaccine front are tempering this,” he said.

Most of developing Asia’s subregions are forecast to contract this year.

According to the report, East Asia is the exception with an upgraded growth forecast of 1.6 percent for 2020 on the back of faster than expected recoveries in China. East Asia’s growth outlook for 2021 is maintained at 7.0 percent.

The ADB expects China’s economy to grow by 2.1 percent in 2020, more than the 1.8 percent forecast in September, before bouncing back to 7.7 percent in 2021, unchanged from the September Update.

“But risks on global economic recovery make the forecast uncertain,” the ADB warned.

The ADB said in the report that South Asia’s GDP is forecast to contract by 6.1 percent in 2020, revised up from the 6.8 percent contraction expected in September. Growth in South Asia is forecast to rebound to 7.2 percent in 2021.

The growth forecast for India, the subregion’s largest economy, for fiscal year (FY) 2020 is raised to -8.0 percent, from the -9.0 percent projection in September, while the outlook for FY 2021 is kept at 8.0 percent.

According to the report, economic growth in Southeast Asia remains under pressure as COVID-19 outbreaks and containment measures continue, particularly in Indonesia, Malaysia, and the Philippines.

The subregion’s growth forecast for 2020 is revised down to -4.4 percent from -3.8 percent in September. The subregion’s outlook for 2021 is also downgraded, with Southeast Asia now expected to grow 5.2 percent next year compared to the 5.5 percent growth forecast in September.

The outlook for the Pacific is unchanged for both 2020 and 2021 at -6.1 percent and 1.3 percent, respectively.

Central Asia’s growth forecast for 2020 remains at -2.1 percent, but the outlook for 2021 is slightly downgraded to 3.8 percent from the 3.9 percent growth projection in September.

Regional inflation is expected to marginally ease to 2.8 percent in 2020, from the 2.9 percent projected in September, due to depressed demand and low oil prices.

Inflation for 2021 is forecast at 1.9 percent, down from the 2.3 percent forecast in September.

Oil prices are retained at US$42.50 per barrel in 2020 before increasing to US$50.00 per barrel in 2021.