The United States has announced its intention to revive the Generalised System of Preferences (GSP) program for Thailand, following the expiration of the scheme in 2020. This move signifies a renewal of trade benefits between the two countries, allowing for duty-free imports of eligible products from Thailand into the United States. The GSP program aims to promote economic growth and development in developing countries by providing preferential treatment for certain goods.

The decision to renew the GSP scheme for Thailand highlights the ongoing trade relationship between the two nations and demonstrates a commitment to enhancing bilateral trade opportunities. By reinstating the program, the United States is providing Thai exporters with a competitive advantage in the American market, facilitating increased trade and economic cooperation between the two countries. This development is expected to benefit both Thai businesses and consumers, bolstering the overall economic ties between Thailand and the United States.

The revival of the GSP program for Thailand aligns with the broader goal of strengthening international trade relations and promoting economic development. As the United States moves to reinstate trade benefits for Thai exports, it underscores the importance of fostering mutually beneficial trade partnerships and supporting the economic growth of developing countries. This decision represents a positive step towards expanding trade opportunities and furthering economic cooperation between Thailand and the United States.

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China’s aid approach in international relations sets it apart from Western countries. Unlike traditional donor-recipient relationships, China uses terms like ‘development assistance’ and views recipients as ‘partners.’ This shift in language reflects China’s focus on building influential relationships through infrastructure projects and investments.

One key aspect of China’s aid approach is its emphasis on infrastructure diplomacy. By funding and developing large-scale infrastructure projects in partner countries, China aims to increase its global influence and strengthen ties with nations around the world. This strategy allows China to position itself as a key player in shaping global development and creates opportunities for long-term partnerships.

China’s unique approach to aid and development has significant implications for its global influence. Through infrastructure diplomacy, China is able to expand its reach and establish itself as a leading player in international affairs. By emphasizing cooperation and partnership over traditional donor-recipient models, China is able to build strong relationships with countries worldwide, further solidifying its position as a major player on the global stage.

Source link : How infrastructure diplomacy shapes China’s global influence

There is currently no universally agreed standard for stablecoins, let alone a regulatory framework governing them. But the market is large – and growing fast. Since the beginning of 2020, the estimated total market value of stablecoins skyrocketed from $5.9 billion to about $130 billion.

There is a lack of consensus on stablecoins and their regulation, with no industrywide standards in place. Despite this, the market for stablecoins is rapidly expanding, with a significant increase in total market value seen in recent years. This growth is indicative of the increasing popularity and adoption of stablecoins in the financial industry.

With the market for stablecoins continuing to expand, there is a growing need for a regulatory framework to govern their use. The lack of standardized regulations poses challenges and uncertainties for users and stakeholders in the stablecoin market. Despite these challenges, the demand for stablecoins remains strong, signaling their importance in the evolving financial landscape.

Source link : A Stablecoin Pilot in China?

Starting next year, companies in Singapore will need to pay higher minimum salaries to hire foreign professionals. The minimum monthly salary for an employment pass is being raised to SG$5,600. This change aims to ensure that foreign workers are paid fairly and to encourage companies to prioritize hiring local talent.

The increase in minimum salary requirements for work visas in Singapore is meant to protect the local workforce by making it more attractive for companies to hire Singaporean workers. By raising the minimum salary for employment passes, the government hopes to reduce competition for jobs and ensure that foreign professionals are being compensated appropriately for their skills and qualifications. This move is in line with Singapore’s efforts to strike a balance between attracting foreign talent and protecting the interests of its own citizens.

Source link : Singapore to increase minimum salary requirement for work visas