Bet This Fucktard Don't Even Know WTF He's Talking About

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yong
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Bet This Fucktard Don't Even Know WTF He's Talking About

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https://asia.nikkei.com/Spotlight/The-F ... 6&si=44594

Thailand's Prayuth: Open, rules-based Asia key to post-COVID growth
Singapore's Lee warns of arms race, Malaysia PM highlights supply risks at Nikkei forum

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Thai Prime Minister Prayuth Chan-ocha says the U.S.-led Indo-Pacific Economic Framework initiative is "solid proof of how important and relevant Asia is today." (Photo by Tomoki Mera)
Nikkei staff writersMay 26, 2022 07:30 JSTUpdated on May 26, 2022 19:49 JST

TOKYO -- An open, rules-based market is essential for rejuvenating the Asian economy, Thai Prime Minister Prayuth Chan-ocha said on Thursday, as the region attempts to shake off the COVID-19 pandemic and overcome supply disruptions stemming from the Russia-Ukraine war.

"We must regenerate economic growth by keeping the market open and inclusive," Prayuth said at Nikkei's Future of Asia conference. "Sustainable economic growth is only possible when we are able to adapt to any disruptions and uncertainties in a timely manner."

Prayuth stressed that "we must continue to support rules-based multilateral trading systems."

"Asia is still expanding and gaining more influence in terms of strategic and economic importance," he said. "The world is watching how Asia responds and rises to the challenge."

Prayuth was one of a series of top Asian leaders speaking at the Future of Asia event -- Nikkei's flagship annual conference -- which runs through Friday. This year's edition focuses on Asia's role in a divided world. The first day featured speeches by Singaporean Prime Minister Lee Hsien Loong and Malaysian leader Ismail Sabri Yaakob, while Japanese Prime Minister Fumio Kishida delivered a special address to an evening banquet.

The Thai prime minister also touched on the Joe Biden administration's Indo-Pacific Economic Framework (IPEF) initiative, which he called "solid proof of how important and relevant Asia is today." Biden launched the program with 13 Asia-Pacific nations during his recent trip to South Korea and Japan.

Emphasizing the role of multilateral institutions, Prayuth pointed out that Thailand is the host of the Asia-Pacific Economic Cooperation (APEC) forum this year. He said APEC is at a "critical juncture" to strengthen strategic partnerships between Pacific Rim countries.

For Thailand itself, Prayuth said economic digitalization and renewable energy will be cornerstones of the country's growth. "Thailand is transitioning to clean energy to achieve carbon neutrality by 2050," he told the conference.

Seeking more investment, he added, "We hope to see a steady increase in Thailand's FDI (foreign direct investment) shares in Japan in the coming year, especially in the renewable energy sector."

Manufacturers in Southeast Asia, meanwhile, are ramping up production amid rising labor costs in China. "Thailand hopes to be one of the world's biggest EV production bases in the near future," Prayuth said.

Global tech companies are also heavily investing in Thai data centers. Prayuth said that his country hopes its digital economy will account for a third of its gross domestic product in the next five years.

The "digital transformation will be a key driver that shapes the modern society," he said.

Reporting by Tsubasa Suruga and Nana Shibata.
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