Thai Airways cancels Taipei flights as Taiwan prepares for Typhoon Kong-rey

Financial markets shut, offices and schools closed

Status of Typhoon Kong-rey on Thursday morning. (Image: Zoom.Earth)
Status of Typhoon Kong-rey on Thursday morning. (Image: Zoom.Earth)

Thai Airways International suspended three flights to and from Taipei on Thursday and one on Friday due to the approach of Typhoon Kong-rey.

Flights TG634 (Bangkok-Taipei), TG636 (Bangkok-Taipei) and TG635 (Taipei-Bangkok) were cancelled on Thursday, with flight TG637 (Taipei-Bangkok) suspended on Friday, the national carrier announced on its Facebook page.

“We apologise for any inconvenience this may cause. Passengers with bookings on these flights are advised to contact Thai Airways Customer Service at 662-356-1111 for assistance with rebooking or further information,” the airline stated.

In preparation for the typhoon, Taiwan has shut down, with all cities taking a day off, financial markets closed, and hundreds of flights cancelled.

The storm is expected to make landfall on the east coast around 2pm (1pm Thailand time), according to Taiwan’s Central Weather Administration.

At one point a super typhoon, Kong-rey slightly weakened overnight but remained powerful as the equivalent of a Category 4 hurricane bringing gusts over 250 kilometres per hour and heavy rainfall, according to Tropical Storm Risk.

Taiwan’s weather administration labelled the storm a “strong typhoon”, the most powerful storm level for Taiwan, adding it would be the biggest typhoon in size to hit the island since 1996.

Administration forecaster Gene Huang said that Kong-rey would head towards the Taiwan Strait as a much-weakened storm after hitting the east coast. He urged people across the island to stay indoors due to high winds.

“The size of the storm is very large, and the winds are high,” he said.

Warnings for destructive winds exceeding 160 km/h have been issued in the eastern county of Taitung, whose outlying Lanyu island recorded gusts above 260 kph before some of the wind-barometers there went offline.

Up to 1.2 metres of rainfall is expected in eastern Taiwan with destructive winds along coastal areas, according to the administration.

Taiwan’s Defence Ministry has put 36,000 troops on standby and evacuated 1,300 people from high-risk areas, the government said.

Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker and major supplier to companies like Apple and Nvidia, reported that it has activated routine typhoon alert preparation procedures at all its factories and construction sites.

“We do not expect significant impact to our operations,” it said in an emailed statement.

According to Taiwan’s Transport Ministry, 298 international flights had been cancelled, along with all domestic flights and 139 ferry services to and from outlying islands.

Taiwan’s high-speed railway, which connects major cities on its populated western plains, continued to operate with a reduced service.

The government has warned people to stay away from the mountains and the coast.

Kong-rey is forecast to graze China along the coast of Fujian province on Friday morning.

Subtropical Taiwan is frequently hit by typhoons. The last one, Typhoon Krathon, killed four people earlier this month as it passed through the south of the island.

A Thai Airways International plane. (File photo)

A Thai Airways International plane. (File photo)

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Thai Airways cancels Taipei flights as typhoon strikes

Financial markets shut, offices and schools closed

Status of Typhoon Kong-rey on Thursday morning. (Image: Zoom.Earth)
Status of Typhoon Kong-rey on Thursday morning. (Image: Zoom.Earth)

Thai Airways International suspended three flights to and from Taipei on Thursday and one on Friday due to the approach of Typhoon Kong-rey.

Flights TG634 (Bangkok-Taipei), TG636 (Bangkok-Taipei) and TG635 (Taipei-Bangkok) were cancelled on Thursday, with flight TG637 (Taipei-Bangkok) suspended on Friday, the national carrier announced on its Facebook page.

“We apologise for any inconvenience this may cause. Passengers with bookings on these flights are advised to contact Thai Airways Customer Service at 662-356-1111 for assistance with rebooking or further information,” the airline stated.

In preparation for the typhoon, Taiwan has shut down, with all cities taking a day off, financial markets closed, and hundreds of flights cancelled.

The storm is expected to make landfall on the east coast around 2pm (1pm Thailand time), according to Taiwan’s Central Weather Administration.

At one point a super typhoon, Kong-rey slightly weakened overnight but remained powerful as the equivalent of a Category 4 hurricane bringing gusts over 250 kilometres per hour and heavy rainfall, according to Tropical Storm Risk.

Taiwan’s weather administration labelled the storm a “strong typhoon”, the most powerful storm level for Taiwan, adding it would be the biggest typhoon in size to hit the island since 1996.

Administration forecaster Gene Huang said that Kong-rey would head towards the Taiwan Strait as a much-weakened storm after hitting the east coast. He urged people across the island to stay indoors due to high winds.

“The size of the storm is very large, and the winds are high,” he said.

Warnings for destructive winds exceeding 160 km/h have been issued in the eastern county of Taitung, whose outlying Lanyu island recorded gusts above 260 kph before some of the wind-barometers there went offline.

Up to 1.2 metres of rainfall is expected in eastern Taiwan with destructive winds along coastal areas, according to the administration.

Taiwan’s Defence Ministry has put 36,000 troops on standby and evacuated 1,300 people from high-risk areas, the government said.

Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker and major supplier to companies like Apple and Nvidia, reported that it has activated routine typhoon alert preparation procedures at all its factories and construction sites.

“We do not expect significant impact to our operations,” it said in an emailed statement.

According to Taiwan’s Transport Ministry, 298 international flights had been cancelled, along with all domestic flights and 139 ferry services to and from outlying islands.

Taiwan’s high-speed railway, which connects major cities on its populated western plains, continued to operate with a reduced service.

The government has warned people to stay away from the mountains and the coast.

Kong-rey is forecast to graze China along the coast of Fujian province on Friday morning.

Subtropical Taiwan is frequently hit by typhoons. The last one, Typhoon Krathon, killed four people earlier this month as it passed through the south of the island.

A Thai Airways International plane. (File photo)

A Thai Airways International plane. (File photo)

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Indonesia Investment Authority and DB Investment Partners form bn partnership | FinanceAsia

The Indonesia Investment Authority (INA) and investment firm DB Investment Partners (DBIP) have formed a partnership, through an Investment Framework Agreement (IFA), to help Indonesia’s economic development. 

INA and DBIP will collaborate by leveraging each other’s market access and investment expertise to deploy at least $1 billion within the next five years.

This joint investment initiative is looking to address needs across capital structures and strategic sectors in Indonesia or with an Indonesian nexus, according to a statement. 

INA and DBIP will also cooperate to support eligible projects in Indonesia through knowledge and network sharing initiatives to help Indonesia’s sustainable economic development. Both parties are seeking to invest “in innovative financial solutions within key sectors”, according to a media statement. 

The investment framework has been developed to cater to the complex and evolving capital needs within the market.

Ridha Wirakusumah, chief executive of of INA, stated, “This partnership enables us to leverage DBIP’s premier platform while we bring our local knowledge to the table, enhancing our joint investment strategy. This allows us to tailor investments that are not only strategic but also diverse, reflecting the dynamic needs of Indonesia’s growing economy.”

Wirakusumah added: “Through this collaboration, we seek to harness DBIP’s proven capabilities to meet the dynamic needs of Indonesia’s growing economy, and each investment is carefully designed to create bespoke solutions that address needs across capital structures and strategic sectors in Indonesia.”

Raheman Meghji, chief investment officer of DBIP, said: “The Indonesian economy has tremendous growth potential and we look forward to playing our part in the story going forward.”

DB Investment Partners (DBIP) is a Deutsche Bank Group company and a global private capital investment firm, which is independently authorised and regulated by the UK Financial Conduct Authority (FCA).

FinanceAsiia has reached out for more information about the partnership. 


¬ Haymarket Media Limited. All rights reserved.

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Whether Trump or Harris wins, US must redefine its Asia strategy – Asia Times

This article was orginally published by Pacific Forum. It is republished with permission.

Just days away from what appears to be an extremely close US election, pundits are hastily trying to make sense of both major candidates’ potential foreign policy platforms. In the battle between Vice President Kamala Harris and former President Donald Trump, each has sought to portray the other as somehow weak on China in an effort to out-hawk the opposition.

Trump has called for 60% tariffs on all of Chinese imports, thereby threatening global financial markets that are still reeling from Covid-19 pandemic recovery and struggling to adjust to US-China decoupling in critical technology sectors.

Harris has insisted that her goal as president would be “making sure the United States of America wins the competition for the 21st century.”

To some national security commentators watching from Asia, there is little difference between two candidates. Both, after all, view American power as indispensable and see their country locked in zero-sum competition with China.

That view is at odds with and keeps them and their political parties from coming to terms with two difficult truths, recognition of which is prerequisite to construction of a more successful Asia strategy:

  • The United States no longer enjoys unrivaled status as the world’s sole superpower.
  • China is not universally viewed with suspicion – let alone hostility – throughout the region.

True, by most objective measures the United States’ position in Asia at the end of 2024 is more secure than it was in 2020.

The Biden administration has secured access to nine bases in the Philippines as part of the Enhanced Defense Cooperation Agreement put on hold under Rodrigo Duterte (2016-2022). In the span of one month in 2023, the administration established a new US-Japan-South Korea trilateral with its two East Asian allies and concluded a double upgrade in the US-Vietnam Comprehensive Strategic Partnership.

The Lowy Institute’s newly released Asia Power Index confirms this positive trendline, finding that the United States remains the most powerful country in Asia, and that while Beijing continues to chip away at Washington’s lead, “China’s power is plateauing” rather than surpassing that of the United States.

Despite those noteworthy accomplishments, however, the longer-term trendline for the United States is concerning.

As Washington continues to project a strategy that implicitly assumes American primacy while it abstains from the evolving regional economic architecture by rejecting free trade deals, the United States is increasingly losing influence in Asia.

Official inattention and inconsistency are largely to blame for the current situation and can be corrected – but time is running out.

While US policymakers frequently make the point that the United States is the largest source of foreign direct investment in Southeast Asia, this is only true if you consider total investment stocks. According to new data from the Lowy Institute, over the last decade China has invested significantly more in the region than has the United States ($218 billion to $158 billion).

Wary of alienating a country that is their biggest trading partner and an inescapable geographic reality, Southeast Asian states are unwilling to join what they perceive as US-led efforts to contain China.

According to a recent survey by the ISEAS-Yusof Ishak Institute, more Southeast Asian states now say that they would choose China over the United States if forced to pick between the two, the first time Beijing has eclipsed Washington as the partner of choice.

Increasingly bellicose anti-China rhetoric in Washington – never more evident than in an election year in which each party seeks to outbid the other as tougher on China – has not been balanced by a positive vision for regional stability that embraces economic statecraft or conventional tools of diplomacy.

Whether Democrat or Republican, the next administration has an opportunity to reframe Washington’s Asia policy in response to regional demand for a more active and balanced US role in the region. The incoming president should consider three guiding principles to get the balance right.

First, Asian states want a more benign and sustainable US presence, one not simply predicated on security partnerships and military bases but capable of delivering much needed public goods such as economic investment and development finance to meet the needs of Asia’s rapidly growing middle classes.

Asia’s middle class is expected to grow to 3.5 billion by 2030, making it the largest in the world. A 2019 report by the Asian Development Bank estimated that the infrastructure needs of developing countries in the Indo-Pacific would amount to $1.7 trillion a year through 2030 when climate change adaptation was factored in.

Yet according to one recent study, official development finance to Southeast Asia in 2022 was at its lowest level since 2015 in real terms.

Secondly, it’s not necessary for the United States to be the single most powerful player for it to make positive contributions to regional order. Washington policymakers are deluding themselves if they are crafting regional strategy from an assumption that the US still enjoys unchallenged primacy in Asia.

Primacy should no longer be the lodestar of US strategy and is an unrealistic goal anyway. A foreign policy based on primacy squanders scarce resources and overstretches policymakers at a time when American voters are most concerned with the economy and healthcare.

Third, smaller states want options. While it has become cliché, the reality is that Asian states do not want to be forced to choose between China and the US. China has been the dominant economic partner for the entire region for some time, and it isn’t going away.

By contrast, the United States is seen as fickle and often a source of instability. In Indonesia and Malaysia, citizens have boycotted American companies such as McDonald’s and Starbucks to express their outrage over US support for Israel’s war in Gaza.

Indonesia and Malaysia are both significant regional partners for Washington and proverbial “swing states,” whose populations frequently put pressure on their political leaders to distance their countries from the United States. Policymakers in Washington therefore need to be more cognizant of how their country is perceived in the region.

In light of these limitations on US power and influence, the next president should recognize the value of America’s alliances and partnerships across the globe, which act as a force multiplier when rowing in the same direction. Washington should continue to empower partners and allies that are willing to play constructive roles in preserving a rules-based (not necessarily liberal) international order.

Ultimately, neither candidate is likely to follow these prescriptions to a tee. Neither party shows any sign of abandoning the current trajectory, which privileges rivalry with China at all costs with a vaguely defined goal of “winning” that competition.

Primacy may be too baked into the cake for any US leader to let go of. In a climate of great power competition globally and political brinkmanship at home, no candidate sees anything short of US dominance as a viable platform.

However, the next American leader may be forced to reconcile with shifting voter preferences. While foreign policy is never a priority issue in any US election, a large percentage of Americans say that it ranks relatively high on their list of concerns: 62% of all voters indicate that foreign policy is very important in determining whom they will vote for (that breaks down to 70% of Trump supporters and 54% of Harris supporters).

Each candidate has sought to be seen as the candidate of change. While the rest of the world is unlikely to view this election that way (both are incumbents to varying degrees), change is precisely what US Asia strategy needs. The election provides a valuable opportunity to reimagine US goals in light of 21st-century global realities.

Hunter Marston (@hmarston4), a PhD candidate at Australian National University, is a Southeast Asia associate with 9DASHLINE and an adjunct research fellow with La Trobe Asia.

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Silver screen success

Over the past three years, Thailand’s film industry has gained momentum following the pandemic restrictions. People are spending more time outside and returning to cinemas.

Jina Osothsilp, Chief Executive Officer of GDH 559 Co, Ltd.

Jina Osothsilp, Chief Executive Officer of GDH 559 Co, Ltd.

This year, the Thai blockbuster family drama Lahn Mah left millions of filmgoers across Southeast Asia in tears.

Known in English as How to Make Millions Before Grandma Dies, it was selected as Thailand’s entry at the 97th Academy Awards.

Since it premiered six months ago, the movie has raked in almost 2 billion baht worldwide.

It was the highest-grossing Thai film of 2024, with 184 million baht in combined receipts in Bangkok and Chiang Mai alone as of early October.

The National Federation of Thai Film Associations has selected it to represent Thailand as its submission for the best international feature film category at the 97th Academy Awards.

Not only is the selection the latest achievement for the blockbuster, but it also represents the culmination of the work of GDH studio head Jina Osothsilp and her team, powered by the backing of its studio.

Ms Jina, chief executive of GDH 559, whose name stands for gross domestic happiness, said GDH has been pushing Thai films to screens abroad since its inception in 2016, especially in Southeast Asian countries such as Singapore and Malaysia as well as other Asian markets such Taiwan, Hong Kong and South Korea, to great acclaim.

The films shown abroad were mostly horrors and thrillers, genres seen as having universal appeal.

But the company has recently been trying to push out comedies and local thrillers such as How to Make Millions Before Grandma Dies, a film which explores concepts such as filial piety and patriarchy through a story about love and relationships across different generations in a family, as another step to raising the popularity of Thai films.

“Our company was founded on the principle of producing quality films that meet international standards, elevating the Thai film industry for future generations,” said the GDH executive. She reminisced about her early days at an advertising company, where she and her team pushed creative boundaries to deliver impactful commercials.

These principles remain unchanged at GDH, where the team strives to think outside the box, creating entertaining films that balance commerce and art.

“The company does not solely target mass-market films for guaranteed box office success; we also embrace diverse ideas,” said Ms Jina.

Moreover, films do not have a perfect formula to guarantee success; thus, the team must be scrupulous regarding every detail and meticulous about every production step. Everyone from scriptwriters, lighting crew and camera operators to actors, producers and directors must work together in unison, she added.

“When the film is released, regardless of the audience feedback, we believe we’ve given it all,” Ms Jina said.

“If audiences are inspired by the film’s message and apply it to their lives, which change themselves, those around them and society in a positive and meaningful way, that is the true success of filmmaking,” she added.

Ms Jina has always believed that behind every success is a great team, whether it’s the talented actors or the skilled crew members behind the scenes.

“Everyone is part of an amazing team, and we believe that the success of this film will encourage filmmakers to create fresh, new content, elevating the standards of the film industry,” she said.

“We feel that family films about love and gratitude are truly universal. Initially, there was some concern that a movie like this might not make a lot of money. But we wanted to create a good film, and we believe that good films should enlighten the audience. When we, as a board, read the script, we all admired it and believed it was an excellent script. We felt that if we didn’t make this movie, we’d regret it deeply,” Ms Jina said.

“A tearjerker might not guarantee success at the box office, but we believed in the quality of the script and the team’s passion to make it happen,” she added.

Such instincts proved right and the movie received positive feedback and an overwhelmingly warm welcome from audiences across the country and abroad. On the promotional tour in Vietnam, many young people left the cinema in tears and ran up to hug Grandma Taew, the 78-year-old actress who played the film’s titular matriarch, remarking how the movie reminded them of their grandma and thanking the company for making a great film.

She said the company has been passing on opportunities for new directors who have experience in making TV series and commercials to join the team under the supervision of the producers, bringing diverse ideas to the screen.

In August, the company released the romantic drama The Paradise of Thorns, the first feature film directed by Naruebet Kuno, known for the famous TV series I Told Sunset About You in 2022.

The film tells the story of Thongkam and Sek, a gay couple who own a home and durian orchard in Mae Hong Son.

Sek dies unexpectedly, and the property is inherited by Sek’s mother, leaving Thongkam without legal rights to their shared property.

The fight for his rights is a reflection of the challenges faced by same-sex couples in Thai society. The film has been selected for screening at the 49th Toronto International Film Festival.

Ms Jina said the success of Bad Genius (2017) in China offers solid proof that Thai filmmakers are capable of generating excitement in the international market.

Jina Osothsilp

Chief Executive Officer of GDH 559 Co, Ltd.

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To challenge China, the next US president should fix trade – Asia Times

This article was originally published by Pacific Forum. It is republished with permission.

In the September presidential debate, former President Donald Trump and current Vice President Kamala Harris had sharply contrasting views on issues ranging from energy to immigration to policy toward China and the Middle East.

Yet, both agreed that tariffs were useful for US foreign policy.

The debate started with tariffs, and the two candidates went back and forth on the likelihood that the new tariffs would cause inflation. By the end of the debate they returned to their discussion on tariffs, where they disagreed on the sectors where they thought tariffs should be imposed and on which countries should be targeted – but agreed that tariffs are useful.

Regardless of the detrimental consequence of tariffs, including inflation, the candidates emphasized the need to impose them to protect critical sectors and spur domestic manufacturing.

The debate clearly demonstrated the arrival of a new era in the United States, one in which the two parties are recalibrating the balance between national security and economics.

Biden’s trade war and Trump’s

The United States has a growing list of grievances about Beijing’s mercantilist practices. These include

  • widespread market-access restrictions, from equity caps on investment to regulatory harassment;
  • pervasive subsidies directed at national champions that tilt the competitive playing field against foreign firms in China and in third markets; and
  • widespread forced technology transfer and intellectual property theft.

To protect domestic industries vital to national security and incentivize China to change its practices, both the Trump and Biden administrations have imposed tariffs on Chinese products.

In March 2018 President Trump announced the administration would impose a 25% tariff on imported steel and a 10% tariff on imported aluminum. Following the announcement, the Trump administration imposed several rounds of tariffs on steel, aluminum, washing machines, solar panels as well as goods specifically from China, impacting more than $380 billion worth of trade at the time of implementation and amounting to a tax increase of nearly $80 billion.

President Biden said in a 2019 speech: “President Trump may think he’s being tough on China, but all he has delivered is more pain for American farmers, manufacturers, and consumers.”

Yet, the Biden administration has largely upheld existing tariffs, with some exceptions. These include suspending certain tariffs on European Union imports, replacing tariffs with tariff-rate quotas (TRQs) on steel and aluminum from the EU and UK, as well as steel from Japan, and allowing tariffs on washing machines to expire after a two-year extension.

In May 2024, the Biden administration announced additional tariffs on $18 billion of Chinese goods, resulting in a tax increase of $3.6 billion.

Authors’ compilation derived from White House Fact Sheet

President Biden’s trade policy differs from the former president’s in that he seeks to increase production and jobs in a select group of emerging high-tech industries. Additionally, he has tightened trade restrictions with China under the “Small Yard, High Fence” approach, limiting the sale of American technology to Beijing while directing federal subsidies to US manufacturers competing with Chinese manufacturers. Another key difference in President Biden’s trade policy is that his strategy relies on bringing international allies together to counter China through a mix of domestic incentives and potentially coordinated tariffs on Chinese goods.

Weighing Washington’s tariffs on Beijing

Among the reasons countries impose tariffs are:

  • to protect domestic industries vital to national security,
  • to incentivize foreign countries to change their practices, and
  • to raise revenue.

The Trump and Biden administrations both stated they imposed tariffs for the first two reasons.

The Trump administration argued that tariffs were “imposed to encourage China to change its unfair practices” as they “threaten United States companies, workers, and farmers.”

Similarly, after the Biden administration announced tariff hikes on May 14, the White House announced tariff increases were designed “to protect American workers and American companies from China’s unfair trade practices,” including forced technology transfers and theft of intellectual property. The administration also pointed out China’s “growing overcapacity and export surges that threaten to significantly harm American workers, businesses, and communities.”

The biggest problem with the latest round of tariffs imposed in May is that it cannot resolve the problems the Biden administration sought to tackle. Rather than focusing on changing China’s forced technology transfers and protecting intellectual property rights, the tariff increases were more about boosting US industries.

Furthermore, doubts persist about whether tariffs truly benefit the US economy. By raising the cost of parts and materials, tariffs increase consumer prices, and reduce private sector output. This will eventually reduce the return to labor and capital, incentivizing Americans to work less and invest less.

There are numerous studies claiming the negative economic consequences of tariff policy. In August 2019, the Congressional Budget Office (CBO) estimated that the negative GDP effects of recent tariff increases had outweighed the positive ones and were decreasing real output by 0.3%. Meanwhile, the Tax Foundation estimated in July 2023 that the long-run effects would bring GDP down by 0.2% and total employment down by 142,000 jobs.

Another issue with the extended tariff policy is that China has evaded its impact. The US-China trade war and rising risks of investing in China prompted global companies to adopt a “China Plus One” strategy, diversifying production into ASEAN countries. These nations became attractive alternatives to replace China for their relatively young populations, free trade agreements with key players, and prime geographical locations.

However, it wasn’t just American firms relocating to Southeast AsiaChinese manufacturers also shifted operations there. Currently, Chinese firms attempt to bypass tariffs by selling components to manufacturers in ASEAN, where the final goods will not be regulated by the US. In the electric vehicle industry, Chinese companies are rapidly expanding into Southeast Asia, making it difficult to regulate them under current trade policies.

Harming allies

Successive administrations have pursued protectionism, from Trump’s steel and aluminum tariffs to Biden’s Inflation Reduction Act subsidies. Unfortunately, these protectionist policies are also hurting friendly countries. The steel and aluminum tariffs also affect the European Union and Japan, while the subsidies from the Inflation Reduction Act have created challenges for US allies trying to conduct business in the US.

In response, countries like Japan, the EU, Canada, Australia, and others have adopted their own domestic subsidies.

Getting trade policy right

If the new administration aims to achieve the stated goal of changing China’s unfair trading practices, the new president should consider reviewing its trade-distorting policies and reigniting a policy of market-driven economic integration with its allies.

To regulate China’s non-market, export-driven model of growth, the administration should work through international organizations and institutions, just as it did during the recent G7 meeting in Italy. Through channels such as the G7, the WTO and the OECD, the US could build an international coalition demanding that Beijing change direction. If those efforts should prove ineffective, the administration could authorize collective action to rein in China’s exports while simultaneously revitalizing the market economy.

Su Hyun Lee ([email protected]) is a researcher focusing on US-China relations and economic security at the Korea National Diplomatic Academy. Previously, she was a 2021-22 resident Korea Foundation fellow at the Pacific Forum.

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Bumper year expected for Phuket tourism

Revenue in 2024 now forecast to exceed pre-pandemic total

Tourists visit a walking street in the Old Town of Phuket. (Photo: Achadthaya Chuenniran)
Tourists visit a walking street in the Old Town of Phuket. (Photo: Achadthaya Chuenniran)

Tourism revenue in Phuket this year is likely to exceed the total in 2019, with almost as many visitors as in the year before the Covid pandemic, according to Thanet Tantipiriyakit, president of the Phuket Tourist Association.

“Phuket has now transformed into a destination for quality tourists, as total spending of tourists has risen above the amount recorded in 2019 despite the overall number of visitors falling slightly,” he said on Tuesday.

According to the Department of Tourism, revenue generated by visitors to the island reached 246 billion baht in the first half of this year. Spending is expected to reach 50 billion baht a month during the busiest months of November and December. Therefore, he said the full-year revenue target of 500 billion baht is achievable.

He said Phuket would also welcome more direct flights during the last quarter of this year, including inaugural flights from Astana, Kazakhstan on Sunday; Kolkata and Chennai, India on Monday; and Siem Reap, Cambodia on Tuesday. In addition to direct flights now linking Riyadh to Phuket, there will also be direct flights from Jeddah, Saudi Arabia, starting on Dec 2.

“There will be quite a lot of direct flights from many airlines to Phuket this year. It is good news for our people and local businesses,” Mr Thanet said.

He predicted that the total number of tourists this year would be between 13 million and 14 million, which would be similar to 2019. Last year Phuket welcomed about 11 million visitors.

Tourists from China are still the largest group of visitors, followed by travellers from Russia and India. The European and Australian markets have grown, but the number of tourists has not increased significantly.

Mr Thanet said he believed Phuket could reach new heights next year with international events, including the Thailand Biennale Phuket 2025, an international contemporary art festival that will run from November 2025 to April 2026.

In a related development, Phuket governor Sopon Suwannarat on Monday welcomed Masazumi Gotoda, the governor of Tokushima prefecture in Japan, along with representatives of nine companies. They discussed a memorandum of understanding on trade and tourism between the cities.

Mr Gotoda said Tokushima, in Japan’s Shikoku region, has unique natural and cultural charms, including the Iya Valley and the Awa Odori Dance Festival.

“This discussion is an important step in building good relations in terms of tourism and promoting local culture,” he said.

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Ishiba’s election setback raises red investor flags over Japan – Asia Times

Japan’s ruling Liberal Democratic Party (LDP) has suffered a substantial political setback, leaving Prime Minister Shigeru Ishiba with a fractured mandate after failing to secure a majority in the lower house election on October 27. 

For global investors, this outcome adds yet another layer of uncertainty in a world already grappling with economic volatility, inflationary pressures, geopolitical tensions and a highly uncertain US election.

Although Ishiba will likely manage to pull together some form of coalition government, the fragility of such an arrangement casts doubt on Japan’s ability to maintain a coherent economic policy. 

Investors will be particularly cautious as a weakened government often struggles to implement long-term reforms, let alone respond decisively to sudden economic shifts.

The question now is not just whether Ishiba can secure enough support to govern but also whether he can deliver the stability and consistency that investors need to feel confident in Japan’s economic trajectory.

Without a clear majority, the LDP’s agenda for economic reform will be at the mercy of coalition partners with potentially divergent priorities. 

For investors, this spells potential paralysis on issues like tax reform, trade policy and fiscal stimulus—all critical levers that affect business confidence and capital flows.

The country’s aging population and sluggish growth have long posed structural challenges and any sign of policy gridlock could deter foreign investment at a time when Japan needs it most.

The post-election environment likely means more negotiation, more compromise and less ability for Ishiba to push through the bold initiatives that would attract more foreign capital. 

Market participants will be watching closely to see whether the coalition, if and when formed, signals a willingness to tackle these deep-seated issues or merely focuses on short-term political survival.

In either scenario, Ishiba’s government will need to work hard to reassure both domestic and international markets that Japan remains committed to economic stability and growth.

Japan’s hot geopolitical environment, with tensions on the rise with China, adds another layer of urgency. Rising regional tensions—particularly with China—place the country in a critical position within global supply chains. 

Ishiba’s ability to manage these relations while maintaining domestic political harmony will be closely scrutinized by investors, who are weighing the potential for and implications of a more unstable Asia-Pacific region.

A weakened Japanese government unable to present a unified front may find itself vulnerable and weak in diplomatic negotiations with key actors, complicating potential trade and investment deals.

As Japan faces 30 days of coalition negotiations, markets will rightly be on high alert. Ishiba’s capacity to negotiate and his willingness to compromise will set the tone for Japan’s economic outlook.

If he emerges from the process with a reasonably stable coalition, it may be enough to restore investor confidence. 

If the resulting government appears highly fragmented or indecisive, investors may start pricing in increased risk premiums, affecting the yen, equity markets and Japan’s credit ratings.

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