7/02/2010Bangkok Post
Prime Minister Abhisit Vejjajiva insisted Thai military officers have not trespassed to Cambodia, as Cambodian Prime Minister Hun Sen claimed.
“The Thai government will use Prime Minister Hun Sen’s comment to explain to the World Heritage Committee that the area around Preah Vihear temple clearly belongs to Thailand,” Mr Abhisit said on Sunday.
The Cambodian premier [...]
Abhisit counters Hun Sen’s claim
February 8th, 2010Troop boost for Hun Sen temple visit
February 8th, 20107/02/2010Bangkok Post
KHAKI PRAYER: Cambodian Prime Minister Hun Sen and his wife Bun Rany during a visit to the Preah Vihear temple.
The army is reinforcing Ta Muan Thom temple in Surin ahead of Cambodian Prime Minister Hun Sen’s visit, amid reports that yellow shirts will turn up to protest at his presence.
Hun Sen yesterday wrapped up [...]
Hun Sen stirs Thai protests
February 8th, 20107/02/201
Cambodian PM accuses Thailand of plotting invasion during tour of disputed Preah Vihear
[...]
Peace prevails during Hun Sen visit
February 8th, 2010Sun, Feb 07, 2010 The Nation/Asia News [...]
Thaksin still in Dubai
February 7th, 20106/02/2010Bangk0k Post
Fugitive, ousted former prime minister Thaksin Shinawatra is in Dubai, the United Arab Emirates, and not in Cambodia as many have claimed, while he still holds Thai nationality, according to Noppadon Pattama, a legal adviser to Mr Thaksin.
Mr Noppadon disputed earlier claims by Veera Somkwamkid, a leading member of the People’s Alliance for Democracy, [...]
Ex-premier Thaksin in Dubai; Still holds Thai nationality
February 7th, 20106/02/2010
BANGKOK (TNA) – Fugitive, ousted former prime minister Thaksin Shinawatra is in Dubai, the United Arab Emirates, and not in Cambodia as many have claimed, while he still holds Thai nationality, according to Noppadon Pattama, a legal adviser to Mr Thaksin.
Mr Noppadon disputed earlier claims by Veera Somkwamkid, a leading member of the People’s Alliance [...]
Abhisit counters Hun Sen’s claim
February 7th, 20107/02/2010Bangkok Post
Prime Minister Abhisit Vejjajiva insisted Thai military officers have not trespassed to Cambodia, as Cambodian Prime Minister Hun Sen claimed.
“The Thai government will use Prime Minister Hun Sen’s comment to explain to the World Heritage Committee that the area around Preah Vihear temple clearly belongs to Thailand,” Mr Abhisit said on Sunday.
The Cambodian premier [...]
Remains of 68 Vietnamese soldiers repatriated from Cambodia
February 7th, 20107/02/2010Source: Australia Network
The remains of another 68 Vietnamese voluntary soldiers who died on Cambodian soil have been repatriated.
The remains were found in the south western provinces of Kep and Kampot.
Since 2001, Vietnamese military teams have found and returned the remains of some fourteen hundred compatriots from Cambodia.
The teams will continue their search for more remains [...]
Cambodia informs Thailand Hun Sen to visit Ta Muen Thom ruins
February 7th, 20107/02/2010
BANGKOK (TNA) — No extra security measures will be provided to Cambodia’s Prime Minister Hun Sen when he visits the disputed Ta Muen Thom ruins, said Thai Deputy Prime Minister Suthep Thaugsuban on Sunday.
Mr Suthep, who oversees national security affairs, said Cambodian officials had already notified concerned Thai security officials that Mr HunSen [...]
How to think of what is happening with the Euro
February 7th, 2010Now let’s continue the thought experiment from my previous post to another kind of currency, the regional currency union (‘cough’, Euro! ‘cough, cough’).
In this instance, let’s think of Country AX and BX, who both use the common currency X. Neither of them issues their own currency. Currency is issued by a master headquarters comprised of bureaucrats from both AX and BX.
Now AX is a more productive economy than BX. As a result, it experiences a string of surpluses, while BX does not. In fact, just to catch up to AX, BX incurs debt (in X, of course) to finance its growth programs.
AX continues its string of surpluses. BX does not have the same results. The main reason is that AX’s string of surpluses is making X, which is a floating currency, more valuable. This makes BX’s exports more expensive for other countries, so it cannot hope to replicate AX’s results.
So to finance its deficits, and to finance its debt services, BX incurs more and more debt in X.
Now everything would be fine if AX would just give all its excess earning of X to BX. But that was not the point of incurring surplus in the first place. AX has an ageing population, and it has social programs to finance. So BX goes on its merry way of borrowing.
Master headquarters won’t help too, as it won’t ‘print’ more of X just to help BX, because doing so would be detrimental to AX. (There are also other countries, CX, DX, EX, who will also be adversely affected) So BX is in a bind.
How long before BX goes down and drags the entire X currency with it? But then if X goes down, that solves BX’s unaffordability problem.
P.S. I just thought of this. When AX incurs its surpluses, doesn’t master headquarters print more X, so other countries will have the currency to buy AX’s goods? I guess, the matter of ‘printing’ money enters the picture again. Implication is that for as long as BX is part of currency union X, and AX continues its surpluses, then BX will never run out X to borrow. Have I missed something else?
