SouthEast #Asia Downturn Poses Serious #Economic Risks

"the next downturn will likely be broad-based and not limited to an acute financial crash, as it is set to be “a more typical economic correction at the end of a cycle”."

‘Southeast Asia at risk of faring worse in next downturn than in global financial crisis’

BAIN & CO. ANALYSTS

SINGAPORE — Southeast Asia is more vulnerable to an economic downturn than it was during the global financial crisis one decade ago, according to analysts at global management consultancy Bain & Co.

Greater exposure to a slowing China – and other structural economic shifts – have left most Asean markets in a more perilous position than before, according to a report released on Friday.

Half of the region’s economies have fallen into a current account deficit as exports tumbled, while Vietnam and the Philippines were the only two countries not to post lower growth in 2018.

The commodities sector will not be as able to cushion the economic blow, as prices and sales are both down, while corporate and household debt have blown past 2008 and 2009 levels to reach the private-sector leverage of more developed markets such as the United States.

“The region’s strong economic growth does not, in fact, shelter it from harm should other parts of the world sink into a downturn or even a recession,” said the report.

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ASIA ECONOMIC OUTLOOK

#Week4Future: Global #Climate #Strike Week - @postcarbon

At this unprecedented pivital juncture in human history First Financial Insights is pleased to annouce its support and endorsement of the beliefs, policies and actions of:

Post Carbon Institute

Our Strategy

Post Carbon Institute provides individuals and communities with the resources needed to understand and respond to the interrelated ecological, economic, energy, and equity crises of the 21st century. We help build resilience to withstand these crises, and support social and cultural change to make society more ready to take decisive and appropriate action. Specifically, we:

• Grow collective understanding of our energy reality, and the need for both conservation and appropriate, community-centric renewable energy.
• Promote community resilience as the best way to build thriving, relocalized neighborhoods, towns, and cities capable of withstanding coming disruptions.
• Support a growing movement of innovators and early adopters who can develop best practices and provide leadership both now and during future crises.

"But even if hope has to be held lightly in the steely-eyed recognition of what we face, we still must take action. Much of that action comes back to our own backyards."

A sea change moment?

Asher Miller

September 19, 2019

Tomorrow begins Global Climate Strike Week, led by young people to demand urgent action to address the climate emergency. What many hope will be a sea change moment in the struggle to mobilize a real response to this existential threat had a humble start a year ago when a young Swedish student, Greta Thunberg, began spending her Fridays protesting in front of the Swedish Parliament. Inspired by Greta’s example—and her blunt, uncompromising stance—millions of students have since joined her in the “Fridays for the Future” movement. This week is an opportunity for the rest of us to participate.

I will be out on the streets tomorrow and the following Friday in my hometown, and I’ll be joining a number of other activities planned locally over the coming week. PCI is supporting our staff to actively participate in the various communities where they live. We’d like to encourage you to do the same. Visit the Climate Strike website to find activities near you.

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