Showing posts with label Economic. Show all posts
Showing posts with label Economic. Show all posts

Monday, 28 September 2015

The Eurasian Economic Union’s ‘Single Information Field’

September 27, 2015

There are a handful of nominal perks to joining the Eurasian Economic Union (EEU): streamlined trade regulations, expedited access for migrant laborers within the Russian market, and increased access to Russian capital. To be sure, though, many of the perks remain in name only; the EEU serves to highlight the differences between regulation and reality. Intra-EEU trade has plummeted, with a floor yet to be found. Border checkpoints remain on paper alone. Protectionism has only increased. Today, the EEU is even farther from being the geopolitical “pole” promised by Russian President Vladimir Putin than when it came into force nearly ten months ago.


Still, the EEU allows Moscow to consolidate its putative influence over the assorted post-Soviet republics who have thus far joined. Last week provided Moscow another opportunity to continue its outreach in Central Asia, as Dmitry Kiselyov joined Kyrgyzstani journalists for a symposium on “informational cooperation between Russia and Kyrgyzstan in the framework of Eurasian integration.”

Kiselyov, currently helming the Rossiya Segodnya conglomerate, unofficially acts as Russia’s chief propagandist. There’s no one quite like Kiselyov in the Russian media sphere, both in terms of managerial reach and on-screen persona. (To those familiar with the American mediascape, The New Yorker’s David Remnicksummed up Kiselyov’s approach: “As a master of theatrical sarcasm and apocalyptic rhetoric, Kiselyov eclipses Bill O’Reilly, and as a theoretician of conspiracy he shames Glenn Beck.”) Kiselyov’s crude charlatanism – histhreats of turning the U.S. to “radioactive dust,” his calls to incinerate the hearts of LGBT individuals upon their passing – reaches a wide audience, both domestic and abroad. His Sputnik outlets, having absorbed the erstwhile RIA Novosti, continue to reach Central Asian audiences, and continue to co-opt the region’s talented journalists.

This week, Kiselyov landed in Kyrgyzstan to spread his gospel of informational warfare: the pursuit of journalism not as a means of informing the public, but as a vehicle to espouse national interests, national values, and national – and governmental – sanctity. Journalism in this view is a buttress for the ruling castes, rather than any means to affect, or deter, oppression, repression, illegality, and the like. After all, as Kiselyov informed his audience, Russia doesn’t experience any forms of repression. All the while, Western-trained journalists, part of an American megalith, are bent only on destabilization.

Instead, Kiselyov said that Kyrgyzstan needed to join the “single information field” linking those nations now part of the EEU. (A bit of an odd call, seeing as the EEU is only – nominally – a commercial arrangement.) “Kyrgyzstan has a choice,” Kiselyov delaimed. “Following the path of Eurasian economic integration is the choice of national interests. Unfortunately we see today how countries simply disappear, and there is no guarantee that Kyrgyzstan will also not disappear.”

Such threats of state “disappearance,” transparent as they are, are by no means unique to Kiselyov. Indeed, Kyrgyzstan is not even the first state Kiselyov has claimed would longer exist; he earlier observed that Ukraine is now but a “virtual” state. (To be fair, Kiselyov was only mirroring Putin’s prior rhetoric: In 2008, Putin, according to Kommersant, informed U.S. President George Bush, “You don’t understand, George, that Ukraine is not even a state.”) They also follow an uptick in rhetoric from Russian officials and nationalists discussing the lack of sovereignty in another EEU member, Kazakhstan.

Now part of the Eurasian Union, Kyrgyzstan and its journalists are in for more rhetoric like that Kiselyov seems to enjoy crafting so much. Instead of the punchy media sphere Kyrgyzstan’s come to enjoy over the past few years, Kiselyov wants to hitch the Kyrgyzstani journalist scene to Russia’s “single information sphere” – with all the realities, and threats of disappearance, it will provide.













Saturday, 26 September 2015

Thailand Cuts 2015 Economic Growth Forecast

September 26, 2015

Thailand’s central bank on Friday cut the country’s 2015 economic growth forecast for a third time this year.

The Bank of Thailand (BoT) forecast was revised downward from 3.0 percent in June to 2.7 percent, about half of the rate that was expected just a year ago.

Assistant Governor Mathee Supapongse also told a news conference that the central bank had slashed its export growth projection from a 1.5 percent fall to a much steeper 5.0 percent decline. Thai exports constitute around 60 percent of the economy.

“The main reason for the downgrades is still external factors, especially exports. The economy will recover gradually but downside risks remain fairly high,” she said.


The BoT also cut its 2016 economic growth forecast to 3.7 percent after raising it to 4.1 percent in June, and slashed its 2016 export growth forecast to 1.2 percent from 2.5 percent earlier this year.

The figures will compound fears that the ruling junta appears unable to put Southeast Asia’s second-largest economy back on track despite its best efforts since taking over following a coup last May. Thailand’s economy grew only 0.9 percent in 2014, the lowest rate recorded since 2011, when the country experienced its worst flooding in decades.

As The Diplomat reported last month, Prime Minister Prayut Chan-o-cha had reshuffled his cabinet in a bid to quell anxieties about the economy, with the most significant change being the installation of Somkid Jatusripitak as deputy prime minister and head of the economic team (See: “Thailand’s Junta Reshuffles its Cabinet Amid Uncertainty”). This month, Somkid has helped unveil a series of measures to boost growth, including programs to channel funds to rural communities.

Whether or not this will help reverse Thailand’s economic slide, however, remains to be seen. How these reforms work domestically is only part of the equation, with regional and global economic conditions also playing a major role. This week, the Asian Development Bank lowered its own growth forecast for Thailand from 3.6 percent to 2.7 percent, citing a variety of factors including the slowdown in China’s economy and sluggishness in export demand from other major economies struggling to rebound.