MARILYN Mr Tai Hui, Regional Head of Economic Research, Southeast Asia, Global Research, Standard Chartered Bank Singapore was in the Sultanate recently to conduct a seminar on the economic outlook of current financial market trends, as well as provided some key insights into market trends, and what could be expected for the coming year. If you look at America in particular and Asia’s economic development, what you can find is that Asia tend to have a lot of government interaction with the economy. In Asia, the gradient/variety of development is much greater, like in Hong Kong, Singapore, Taiwan and South Korea they are much more advanced in terms of economic development. Therefore, I believe the key differences between Asia and the US is the involvement of role of the state and the varying stages of economic development in Asia that provides a very interesting prospect in the region. If we can answer the question and then fit the country’s economic accordingly and then promote externally, I believe these are some of the things that will help to promote the country’s economic image as well as push ahead with the country’s economic development, diversification away from the traditional energy industry. Then you have countries such as Thailand and Malaysia, which to a certain extent feels the competition from China because as China continues to grow, then we would actually move into the areas of expertise in terms of manufacturing of these countries. read more

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