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With this agreement, Malaysia will be the second country after Singapore in the Asean region to establish a yuan-clearing bank with China. Prior to this agreement, a conversion of the ringgit into yuan would need to be first converted into the US dollar and then thereafter to the yuan, also known as renminbi or RMB. With a clearing house in Malaysia, the ringgit can be directly converted to yuan, hence reducing the cost of transaction The trade settlement volume has also tripled since to RM3bil in while yuan deposits in Malaysia have also expanded by over fold to the current Tourism and Culture Minister Datuk Seri Nazri Aziz, who is here for the China International Travel Mart, said that if approved, the move would put Malaysia on par with other Asean countries who are already offering a similar scheme to Chinese visitors.

He said the forum was also supported by the Chinese leadership who saw connectivity between China and Asean countries as central to China's Maritime Silk Road initiative espoused by Xi It was ore mined from this now-quiet Dungun township that had supplied the Japanese steel industry throughout the second World War. According to reports, the mining was handled by the Nippon Mining Company during the Japanese Occupation The company is operating Chinese equipment, which were brought in at less than half the cost of American and Japanese equipment, NYT wrote Beijing was his first stop as he arrived on Saturday evening to attend the annual APEC summit, a prestigious powwow of 21 leaders of Asia-Pacific economies, on Nov.

In his welcoming note, Xi congratulated Jokowi for his ascension to the presidency and hoped that under his leadership Indonesia would not only see more rapid development but also play more of a role in dealing with regional and international issues. Jokowi has also demanded bigger role in the China-led Asian Infrastructure Investment Bank AIIB , by proposing that the bank open its headquarters in Jakarta for funds to flow into the country.

We will also have a stake, but smaller. Malaysia supports China-backed free trade plan in Asia Pacific by Bernama Published: 8 November International Trade and Industry Minister Datuk Seri Mustapa Mohamed said that as a middle-income economy, Malaysia has enjoyed the benefits brought about by APEC initiatives in addressing the middle-income trap and pushing economies to achieve higher income status Mustapa, who arrived here on November 7, has met his counterparts from Indonesia, Hongkong, Russia, Japan, Taipei and Asean countries to discuss trade issues.

It is the more ambitious of the regional agreements, as most just cover goods. To explain on RCEP, she notes that its aims to pool disparate rules. This and the Transpacific Partner TPP Agreement are open agreements as membership can expand as more countries can opt in Malaysia is a small open economy and regards such networks as useful. Malaysia wants to be in room when new rules being made but it is another matter if Malaysia signs up.

These two studies will be presented to Parliament to make a decision. Once all 12 countries present their market impact commitments, then Malaysia can decide. MITI reiterates that it's important to shape outcome i. As always, a mixed bag of news links. Thanks to readers interest in this still growing news consolidation posting, it's now reached about 6, readers I'm not exactly sure when to shift this to a new posting as size seems to make it easier for readers to find it!

Highlight is some concerns on China anti-corruption hitting commodity demand. Also, check out the new Vale terminal in Malaysia. Our Brazilian neighbours have been living here in recent years to implement this project, so it's nice to read about the big economic drivers for this. Check out the links below for more info. There was a big Malaysia-China seminar two weeks ago I missed it, as my day job as a economist on agribusiness took me out of Malaysia. I'll try to find out if papers are downloadable and get a link going on it.

China market update 1 : anti-corruption hits demand? Khor Reports: We recently spoke to China market specialists. There is also significant concern of constrained demand growth as the China anti-corruption drive hits gifting in the food sector including restaurant meals and mooncakes. For example, it is noted that it was the first time in many years that "hairy crab" prices fell.

China, which is keen to extend its influence in the region, has limited voting power over these existing banks despite being the world's second-largest economy The AIIB, launched in Beijing at a ceremony attended by Chinese finance minister Lou Jiwei and delegates from 21 countries including India, Thailand and Malaysia, aims to give project loans to developing nations. China is set to be its largest shareholder with a stake of up to 50 percent Up to last month, eight Valemax vessels - the biggest ore carriers that can haul as much as , tonnes - had already called at the Teluk Rubiah site to discharge cargoes, with five smaller Capesizes loaded, Vale said It said the torpedo, which was launched accurately, destroyed and sank its target Nature Goodness Food Industry Sdn Bhd, which took part in the expo, said the durian coffee was a bestseller among its products, including frozen durian and fruit juices Malaysia has the largest participation at the expo with about booths offering food and beverage, household appliances, tourism products and others Others would like to bury the investigation Technocrats held that in the new world order, economies were undergoing a fundamental shift from a money-based economy to a materials-based economy.

This shift reflected the dictates of the planned economy in which material balances and quotas, not prices and profits, served as the benchmark for economic activity. But more important, it highlighted the pivotal role of technology in the production process and in the creation of synthetic resources. Technocrats also sought to provide a new theoretical approach toward measuring national wealth.

In the new era of state planning and autarky, however, a distinction was made between state and national private consumption. The latter was no longer conceived in terms of the free will of the individual. National wealth was not assessed in the monetary terms of national income, which also included elements that did not directly contribute to the war economy, but rather in terms of their relative value or contribution toward fulfilling state plans.

Technocrats called for a restructuring of public finance accounting in order to clarify and specify the role of various components of the economy and the different approaches taken toward them. Rather than dividing the budget into a General and Special Accounts, they proposed to create four categories within the General Accounts budget for official finance, re-production or reinvestment, reserves and stockpiling, and welfare.

Welfare, production, and stockpile-related programs were viewed as future public revenue sources and should be funded by public debt. The Special Accounts Budget would in turn draw upon these four budgets for funds. Technocrats argued that national power should be understood in terms of its dynamic force. Matsumae explained the dynamic nature of national power by likening the national defense state to a magnet whose force continually pulls the iron particles in one direction and in turn magnetizes them.

The faster the top spins the more it stabilizes. When it spins at a very high speed, it attains a degree of stability by which motion and inertia become indistinguishable. As the rotational power gradually weakens, it begins to totter.

At the end, when its rotational speed finally reaches zero, the top falls on its side. The so-called national defense state is a state with tremendous rotational force. Needless to say the essential idea behind the defense state is the dynamic rotation, which concentrates the total power of the state, or the totality of the economy, the military, politics, and culture, at the center.

Second, the retreat into abstract formulations about spinning tops and magnets suggests a difference in degree, not essence, of the shallowness of the theoretical reasoning and rational formulations of technocrats. The top analogy offers a poignant caricature of the seemingly sophisticated, cosmopolitan theories about geopolitics, the new world order, and the national essence.

These strands of thought mutually reinforced each other in their common vision of a hierarchical, organic, functionalist community. It was a product of the collaboration of the military, pan-Asianists, and ultra-nationalists, as well as technically-minded professionals including economic and regional planners, geographers, and engineers.

In a broadcast to the nation on December 19, , Kishi reported on the vast resources of Asia. The Philippines possessed superior iron ore, abundant flax, as well as coal, chrome and manganese ore. The Dutch East Indies had rich supplies of oil, rubber, tin, coal, iron ore, bauxite, copper, manganese, lead, zinc, chrome, tungsten, mercury, bismuth, and antimony.

As for the South Seas, Kishi described it as a treasure house of minerals that have yet to be mined. He noted that there were only a few resources in which Greater East Asia was not self-sufficient. Through science and technology, Japan would create substitutes for these resources.

Technocrats argued, from the standpoint of economic rationality, that the weak, backward countries of Asia could not thrive independently outside of a larger regional bloc. Only through the synergies and economies of scale of such a bloc and the technological leadership of Japan could Asia compete with the West. In the new era of multi-year planning, they explained, the first phase of construction would focus on obtaining essential raw materials needed for military victory against the Allies, followed by the long-term development of basic, civilian industries in Asia.

The Greater East Asia Co-prosperity put forth an alternative, ideological basis and a new unifying, organizational principle to articulate the multiple military, political, economic, cultural, and ethnic ties between Japan and Asia. Technocrats emphasized that Japan would not replace the West as the new imperialist power in Asia. They argued that Japan, with its technical and industrial expertise, would lead Asia into the new technological era. England was a maritime power but lacked a continental base, whereas the continental powers Germany and the United States both lacked maritime bases.

He predicted that Germany, although it was on its way to establishing a European continental state via the European war, would be handicapped geopolitically because of its lack of a maritime base. Technocrats viewed national planning as the most advanced form of state planning. These plans merely sought to meet limited, short-term targets for increasing production in industry and agriculture by temporary measures such as extending labor time or installing new equipment within a given geographical setting.

National land planning was first introduced and promoted by British planners as part of the movement for regional and urban planning. It was advocated as a means to decrease overpopulation and congestion in the major metropolitan areas by promoting satellite cities and towns, incorporating green belt areas, building a nationwide transportation network system, and formulating plans for regional growth.

In contrast to the liberal type of national land planning focusing on suburban development, the authoritarian regimes of Soviet Russia, Germany, Italy, and Japan looked to national land planning primarily as a way to expand national productive power. Japanese planners classified national land planning in the various industrialized countries according to two general criteria.

Among countries which possessed undeveloped frontier land, the United States pursued grass-roots planning from below, reflecting its liberal tradition, whereas Soviet Russia imposed centralized planning from above in accordance with its authoritarian political system. Among those countries smaller in scale which lacked open uncultivated land and focused on restructuring developed areas, England attempted bottom-up type liberal planning to address the social problems of industrialization, whereas Germany pursued top-down planning primarily for the purposes of national defense.

Ultimately, technocrats viewed the liberal system as an obstacle to true national land planning. They argued that since liberal countries did not tolerate top-down planning, they could only partly implement national land planning from below. Planning of the vast undeveloped resources in the United States stopped at the regional level because the state was not strong enough to restrain freedom and coordinate the various interests at the local and regional level.

In terms of restructuring metropolitan areas in England, the challenges were multiplied. Suburban planning in England never took off because the state was unable to tackle the source of urban congestion: the laissez-faire economy, which permits uncontrolled economic and urban development devoid of an overall planning authority and vision.

Moreover, among totalist states, they believed that the Japanese case was unique because Japan possessed both the challenges of reorganization of their native land and frontier development of its East Asian empire. The ambitious planning visions, projects, and dreams of Japanese technocrats were soon dashed as the tides of war turned against Japan.

But the biggest planning opportunity for Japanese technocrats came after its defeat, when the country faced the daunting task of rebuilding its economy and society from the ground up. Upon his release from Sugamo prison in , Kishi set about building the Liberal Democratic Party and strengthening the ties between bureaucrats, business, and the public along the lines envisioned in the wartime New Order. As prime minister from to , Kishi became the first Japanese head of state to visit the countries of Southeast Asia.

This essay is excerpted from Chapter Six of that book. Japanese Troops enter Saigon September It demonstrates that, alongside Cambodia, Vietnam stands out among the beneficiaries of Japanese war reparations for the huge gap in expectations over compensation issues.

The issues were complicated by the fact that the major Japanese reparations-aid project, a hydro dam, was crippled by the DRV's southern arm, the Viet Cong. But even prior to the French invention of the State of Vietnam in , France made claims upon Japan for war damages and reparations, as well as for unpaid loans and debts. The multi-sided diplomatic contest also engaged Washington and not all issues were resolved by the San Francisco Conference in or the emergence in of the independent Republic of Vietnam.

With the emergence of the Republic of Vietnam, the Kingdom of Cambodia, and the Kingdom of Laos as independent states following the Geneva Conference settlement , the three countries virtually stepped into the shoes of France in negotiating their future relations with Japan, war reparations included.

Just as the three Indochinese states established diplomatic relations with Japan on their own terms, encouraged by the United States with Cold War considerations to the fore, France looked to the future in its relations with Japan, putting aside a host of acrimonious wartime claims and recriminations.

This article problematizes the interwoven themes of French war damages claims, Vietnamese reparations demands, and Japan's contested postwar political and business links with Vietnam in support of US goals. Indonesia, for example, is well represented with the study by Nishihara Masashi on Tokyo-Jakarta relations between The article is divided into four sections.

First, I will discuss French war damage claims on Japan. Third, I will examine the diplomatic and trade relations between Japan and the Indochinese states. Fourth, I will discuss the background and actualization of Japan's reparation agreement with, especially, Vietnam. French War Claims In early , as France consolidated the restoration of its colonial order in Vietnam in the wake of the Japanese surrender, a special commission was established to assess war damages inflicted by Japan in Indochina.

Known as the Commission Consultative des Dommages et des Reparations.

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ICT offers some free resources as well as paid Forex mentorship. You may find yourself scratching your head at the basic vocabulary. To help you out, here are explanations of some common terms used by SMC traders: Order blocks: This terminology is used to discuss supply and demand. Some SMC traders say that order blocks are a more "refined' concept than regular supply and demand, but others contest this claim. Breaker blocks and mitigation blocks: These terms refer to support and resistance.

Fair value gaps: This term refers to an imbalance. There are a variety of different types of gaps, and they were all identified years ago. Some examples are common gaps, exhaustion gaps, breakaway gaps, and runaway gaps. You will discover that other SMC concepts also are familiar to you once you figure out what the fancy terminology is referencing.

Every time price surpasses the previous high, there is break of structure. We then see a change of character ChoCH as price drops down past previously established lows. SMC is not "trading like the banks. The flaws in the theory What is the flaw in the theory behind SMC?

It comes back to what we mentioned earlier about market makers. But SMC does not provide any evidence that these manipulations are occurring or are responsible for the patterns. There is little logic in declaring that smart money manipulations are creating the patterns. It is true that banks and other large players are what move the markets. But it is not true to say that these market makers are out to get retail traders and are actively conspiring to manipulate the markets.

Instead, their role in the markets is to create liquidity. Simply put, market makers do not care about your existence. Retail traders are just not that significant in the grand scheme of things, even when you add them all together. Does this mean market manipulation is entirely a myth? It does happen, but not in the way that SMC describes. No different from regular retail trading SMC traders believe that they are trading like the market makers rather than trading like other retail traders, and that this gives them an edge that their fellow retail traders lack.

In truth, SMC traders are trading exactly like their fellow retail traders. They are not trading "like the banks. There is nothing wrong with that per se, since they are teaching methods that can be useful. But some traders feel that presenting these old concepts as if they are brand new is disingenuous in some way. To add to that, having to learn all of those new terms adds a level of unnecessary complication to the entire thing. SMC does not so much reinvent the wheel as it simply rebrands the wheel, putting it in a fresh new package.

It is still a wheel. It turns in the exact same way and can get you to the exact same destination. Why go to the trouble to learn a new language to discuss something with which you already are probably familiar? For most though not all traders, it is simply going to be easier to talk about support and resistance. If it works for you, there is no reason not to use it. Being able to consistently grasp what price is doing and profit from its behavior is more important than knowing why price is moving the way it is.

Price action has a decades-long history of producing results for many people across not just currencies, but other assets as well. In a related survey, more than 4. Yet, the industry raises many questions that remain unanswered. The definition of Forex In a sense, Forex is a dynamic basket of foreign currencies and exchanges.

The Foreign Exchange market is decentralised by nature. It lives completely online and uses a great variety of different countries, currencies, and commodities. The key Forex actors The main actors of the Forex industry are, far and foremost, the broker itself, who provide the trading services, and its clients, who use them and are regular people.

Also, Forex services rely on the essential relationship with liquidity providers. They function as mediators who are highly required to give traders access to the Forex market, offering the most accurate value estimation for the traded currencies. There are global and local Forex brokers—the bigger the reach and regulatory scope, the bigger the Forex broker.

The licence issue Global Forex brokers operate in a multitude of countries. They are often allowed to operate globally through multiple international documents. An essential advantage of working as a globally recognised Forex broker is the trading conditions they wish to offer and secure for their clients. Global Forex brokers have a wider variety of instruments on offer with fair and competitive trading and investing conditions that otherwise would simply lack in the Foreign Exchange market.

As discussed above, decentralisation for the Forex market is vital. It operates—without exception—online and utilises a wide variety of different regions and even continents, national currencies, and commodities. Even local brokers must use some features and advantages of international partners, such as payment systems and other services.