back to article Asian trade bloc creates annual regional online shopping festival as plague-popping economic prod

The ten-state Association of Southeast Asian Nations (ASEAN) trade bloc has decided that a regional internet splurge can help the region rise from plague-induced economic torpor. ASEAN’s members are Indonesia, Thailand, Malaysia, Singapore, Philippines, Vietnam, Brunei, Myanmar (Burma), Cambodia, Laos, which together are home …

  1. Anonymous Coward
    Anonymous Coward

    9 trillion

    GDP is 9 trillion, not 3. Norminal GDP doesn't adjust for inflation i.e. if the Fed prints $7 trillion of magic funny money, that is treated as if it was $7 trillion of actual money.

    https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

    USA Fed reserve is floating some $7 trillion of fake assets. It passed $5 trillion, its biggest number ever, back in last March. The Fed man changed the value in a spreadsheet, and then handed the new 'money' to his friends to buy 'assets' at prices the market won't support, is not an economy and and its not 'product' let alone 'Gross Domestic Product'.

    "Nominal GDP" is used by countries who want to pretend their money printing is "economy".

    ASEAN will be fine, its largely tackled Covid19, Singapore is a bit behind, but they'll sort it out.

    Thailand is opening up, its busy, but everyone is still wearing masks and using alcohol hand cleanser. Thailand hasn't had a domestic case in months, but it has had a few scares, e.g. a diplomat's family tested positive, forcing a local lockdown, an Egyptian army stop over, they went to a shopping mall, and now 1400 people are quarantined as a precaution with further stopovers from Egypt's military suspended till they obey the quarantine rules.

    https://www.bangkokpost.com/thailand/general/1953104/covid-19-test-results-negative-so-far-in-rayong-bangkok

    But the actions, the testing, the quarantine, the *confidence* is why Thailand markets and restaurants and malls are getting busy again. Even the water parks are opening, Covid free.

    They don't need to go 'digital' or 'online shopping' now, they can actually get out in confidence and enjoy stuff for real.

    That's the benefit of adult leadership.

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