Online Discussion #1: News Sharing Session

Let's start with something simple. Given so many things have changed; for example recovery of COVID-19, the conflicts happening in many countries, and the advancement of technology, I would like you to share business-related or economic-related news in any country by
(1) providing a summary of what the news is about and
(2) explaining why you think the news is interesting/important that we should know.

One news per post.
Please make sure that the news you choose are not too similar to the previous posts and also provide a reference(s).

Time limit: Until Sunday 12 November 2023.
The discussion will be assessed according to the attached criteria.

Bibi Netanyahu is the wrong man in the wrong place

Israel’s prime minister is ill equipped for war and peace


Five days into Israel’s ground invasion of Gaza, its armoured and infantry battalions are deepening their presence in the northern and central sectors of the Strip, while starting to take casualties. Civilian deaths continue to spiral to horrific levels with reports of dozens of Palestinians killed by the bombardment of several buildings in Jabalia, north of Gaza city. Israel claims it killed 50 militants in the same location, including Ibrahim Biari, one of the commanders of Hamas’s October 7th attack. Footage from Palestinian sources appears to confirm that many bystanders died, too.

Summary
The news article discusses the ongoing conflict involving Israel's ground invasion of Gaza. The Israeli military has expanded its operations in the northern and central areas of the Gaza Strip, and both military and civilian casualties are escalating. Israel claims to have killed 50 militants, including a top commander of Hamas, in Jabalia. However, there are also reports of significant civilian casualties in the same area, causing public outrage.

Why it's Interesting/Important
Economic Impact: Prolonged conflicts usually have an economic toll, affecting trade and causing instability in financial markets. It resulted in the increase of worldwide gold price and investment cash flow from the war-damaged country flew out in a shocking amount. Additionally, there is the ruination of the market of goods and services in the war-damaged country and the country nearby due to human panic.

American power: indispensable or ineffective?
How Joe Biden manages the war between Israel and Hamas will define America’s global role



As massed israeli troops await the command to invade Gaza, two hulking us Navy aircraft-carriers have been sent to support Israel. Their task is to deter Hizbullah and its sponsor Iran from opening a second front across the Lebanese border. No other country could do this. The carriers are a 200,000-tonne declaration of American power at a time when much of the world believes that American power is in decline.

The coming months will test that view. It is hard to exaggerate the stakes. On October 20th President Joe Biden called this “an inflection point”. He warned of the need to repulse Hamas’s terror as well as Russia’s aggression against Ukraine. China’s threat to invade Taiwan lurked unspoken in the background.

Summary
The article talks about how the U.S. is supporting Israel in its conflict with Hamas by sending two aircraft carriers. The actions taken by President Joe Biden in this situation will show whether the U.S. is still a strong global leader or not. Biden has also mentioned that this is a critical moment, hinting at other global issues like Russia's actions in Ukraine and China's threat to Taiwan.

Why it's Interesting/Important
- Economic Implications: Military involvement usually comes with significant economic costs, impacting the U.S. budget and potentially affecting domestic programs.
- Stock Market Volatility: Markets don't like uncertainty, and military conflicts are among the most unpredictable events. This can lead to increased volatility in stock markets.
- Investor Behavior: Long-term investors might start pulling out of markets perceived as risky, leading to reduced capital inflows and potentially affecting economic growth.
- Currency Value: In times of conflict, investors often seek safe havens, which can affect the value of a country's currency. A weaker currency can make imported goods more expensive, affecting consumer prices.

What Happened to Silicon Valley Bank?
Silicon Valley Bank (SVB), a big bank in the U.S. that was popular with tech companies and startups, had to shut down in March 2023. This happened because the bank made some poor choices in what to invest in. At the same time, many people started taking their money out of the bank, making things worse. First Citizens Bank stepped in and took over all the accounts and loans that Silicon Valley Bank had. The U.S. government investigated it and said that the bank's own management team didn't do a good job, and that the rules and people who are supposed to keep an eye on banks like this didn't do enough.

Why This News is Important?
 - Worriedness: People are already worried about the economy, and this big bank failure makes those worries even bigger. It's the largest bank to close since the financial crisis in 2008, so it's a big deal.
 - Regulators Problem: The bank was big but somehow not big enough to get extra attention from regulators. This shows that maybe the rules need to be changed to keep a closer attention on banks like this one.
 - Tech World Impact: This bank was special because it helped a lot of tech startups. Now that it's gone, this could make things harder for new tech companies.

Good things to notice.
The Government made an announcement to all the depositors of the SVB. They will cover the whole amount of the money in the account regardless of any stated policies with the money from Federal Deposit Insurance Corporation (FDIC). The main reasons for this are,
 1. FDIC because this will not impact the government budget from taxes that came from household taxpayers.
 2. To ensure that there will not be an after-effect from the worriedness of people they cannot trust the bank anymore.
Because if not, they will eventually take all their money out of all the banks which will result in an extremely worse economic impact.

Ref Investopedia (https://www investopedia com/what-happened-to-silicon-valley-bank-7368676)
Summarized by Suchanont Petcharat 6405582

Big government will drive the next market cycle

Summary

  Global shifts towards government-driven economic management have emerged due to recent crises like COVID-19. Governments have heightened interventions to aid consumers and businesses, with notable actions like employment support in Europe, financial aid to Americans, and industrial policies in the US and China. These interventions aim for economic stabilization and stimulation, yet bring financial challenges like rising public debt and inflation, impacting interest rates and investment, highlighting the complex dynamics between fiscal policy, aggregate demand, and the broader economic scenario.

Equilibrium Output

  This intervention impacts the equilibrium output in an open economy, as represented by the equation Y = E = C + I + G + X - Z, where G is directly used to boost aggregate demand, leading to higher income and output (Y). Policies like the US's $370 billion Inflation Reduction Act and China's support for electric vehicle manufacturers aim at stimulating investment (I) and possibly affecting the trade balance (X - Z)

Why This News is Important?

• Economic Management Shift: The news highlights a significant shift towards more government intervention in economic management, embodying Keynesian principles, which is pivotal in the current global economic scenario marked by various crises.
  

• Financial Implications: Discussion about the financial implications of government interventions, including the impact on public debt and inflation rates, underscores the complex interplay between fiscal policy, aggregate demand, and the broader economic environment.
  

• Practical Application: The news illustrates real-world applications of Keynesian economics through various government interventions
  

---

Author : Dhouchdhanin L. 6405609
REF : reuters(dot)com/breakingviews/big-government-will-drive-next-market-cycle-2023-10-31/

Summary:

The article discusses Thailand's implementation of a "EV Tax Incentive Package" in response to government resolutions and cabinet approval. This package, which will be in effect from 2022 to 2025, aims to stimulate demand for Battery Electric Vehicles (BEVs) by offering incentives such as duty reductions for market trial imports, excise tax reductions, and excise subsidies. It aims to make BEVs more affordable and competitive with traditional vehicles in order to promote cleaner, more sustainable transportation throughout the country.

Why it's Interesting/Important:

: The Government Commitment to EV Adoption: The Thai government's commitment to promoting electric vehicles is evident in these incentives and regulations. Such policies can have a profound impact on the automotive industry and the environment.
: Excise Tax Subsidy and Reduction: Lower excise taxes make electric vehicles more appealing for customers and are consistent with efforts to promote sustainable transportation and Package for electric motorcycles, pick-up trucks, and passenger cars aims at boosting the national output of BEVs. This not only promotes the growth of the electric vehicle industry, but it also aligns with environmental sustainability goals by decreasing emissions from vehicle imports.
: Economic Implications: The "EV 3.5 policy" includes subsidies for imported EVs as well as domestic manufacturing goals. These incentives have the potential to stimulate local manufacturing and create job opportunities in the electric vehicle sector, thereby contributing to economic growth.
Ref: kpmg.com/th/en/home/insights/2022/05/th-tax-news-flash-issue-130.html

Summary

The world economy will face a severe energy shock if hostilities between Israel and the militant group from Palestine worsen, it may cause an oil price rise due to the Middle East being the region with the highest oil wealth in the world. These consequences arise from both the ongoing Middle East conflict and the resulting from Russia's recent war with Ukraine. This scenario could risk a repeat of the oil price crisis of the 1970s. Therefore, if the oil price increases, it will result in higher inflation.

Why it’s Interesting/Important

Rising oil prices will result in higher inflation and may reduce economic growth. The pricing of things manufactured using petroleum products is directly impacted by oil prices in terms of inflation. The price of oil has an indirect impact on industrial, transportation, and heating expenses. The prices of various goods and services may rise due to these costs rising and may result in a decrease in demand for these things. An increase in the price level of oil results in an increase in the price of consumption depending on how important oil is in the production of a particular good or service.

Ref: www[dot]bbc[dot]com/news/business-67267719

The Impact of the Panama Canal Drought on the Global Economy

The Panama Canal, one of the world's main shipping routes, has announced a reduction in its crossing rate to 25 ships per day due to a decrease in water levels, which are expected to decline further in the coming year. Records indicate that the precipitation rate was the lowest in the past 70 years. As a result, the Panama Canal Authority (ACP) has proportionally raised its transit fees.

Why Is This News Important?

   Economic principles define the number of crossing trips as the supply and the marine transportation companies as the demand for canal crossings. After the ACP's announcement of reduced slots, the demand remains high while the supply has decreased, leading to an increase in fees to rebalance the demand-supply equilibrium following a left-shift of the supply curve.
   Consequently, marine transportation companies are facing an increase in the fixed cost of crossing the canal. To address their increased costs, these companies may raise their shipping rates.
   The outcomes are, firstly, customers using shipping services that traverse this route will suffer higher delivery costs. Secondly, the macroeconomic impact could lead to a global increase in shipping costs as more ships, unable to pass through the Panama Canal, divert to alternative routes, causing an increase in crossing fees due to a right-shift of the demand curve.

Ref: https://www reuters com/business/panama-canal-says-will-slash-booking-slots-due-drought-2023-10-31/
Summarized by: Suchanont Petcharat 6405582

Summary

According to CNBC, Amazon is launching its first pay-later checkout option for small business owners through the financial company Affirm. With this option, qualifying U.S. users of Amazon Business Prime who make purchases of $100 or more can divide them into easy monthly payments without incurring any fees or interest.

Why it’s interesting/important

- Amazon-Affirm Partnership: The news reveals that Amazon and Affirm are expanding their buy now, pay later (BNPL) service to Amazon Business, the e-commerce platform for small businesses1. This is a significant development for both companies, as it shows their commitment to the BNPL market and their ability to reach millions of customers.

- BNPL Trend: The news reflects the growing popularity and adoption of BNPL as a payment option, especially during the pandemic. BNPL offers more flexibility and transparency than credit cards and can help consumers and businesses manage their cash flows and budgets.

- Small Business Impact: The news highlights the potential benefits and challenges of BNPL for small businesses, which are often underserved by traditional financial institutions. BNPL can help small businesses access credit, purchase goods and services, and grow their operations. However, BNPL also carries risks, such as high-interest rates, defaults, and regulatory uncertainty.

It shows how Amazon is expanding its payment options to attract more small business customers and compete with other e-commerce platforms. It also reflects the growing popularity of buy now, pay later services to increase demand and then shift right which means sellers could sell much more than usual and get more profit from this situation, which offers consumers and businesses more flexibility and convenience in managing their cash flow.

Ref:https://www cnbc com/2023/11/02/amazon-affirm-buy-now-pay-later-small-business.html
Posted by 6405564 Raksit Nuangsunant

Summary:
UK businesses are facing challenges in trading with the EU since Brexit, with some businesses warning of significant delays and costs in trying to move goods between the two regions. One business is even considering setting up a hub in France to avoid the disruption.

It is hard to deny that Brexit has had a significant impact on both businesses and consumers. The disruption to trade is causing delays, costs, and shortages, which are forcing some businesses to consider relocating to the EU in order to remain competitive. The UK government should work with businesses to find ways to reduce the disruption to trade. On the one hand, businesses should also explore ways to adapt to the new post-Brexit trading scenarios.

Why this news is interesting?

This news is interesting because it highlights the resilience of British businesses. Despite the challenges they are facing, they are finding ways to adapt and continue trading. This is a testament to the ingenuity and entrepreneurial spirit of the British people.

Since some businesses are considering setting up hubs in the EU to avoid disruption, it is evident that these businesses believe that the long-term impact of Brexit on the UK economy will be negative and that they need to take steps to protect themselves. This also illustrates the significant impact of Brexit on both the UK and EU economies.

I personally believe that it is important for people to be aware of these challenges so that they can make precise decisions about their businesses and their spending. I also hope that the news will prompt action from the UK government and businesses to address the disruption to trade and mitigate the long-term impact of Brexit on the UK economy.

References: https://www-bbc-co-uk/news/business-55786974

Summary

the US jobs report for October 2023 reveals an increase of 150,000 in payrolls, which is lower than what was expected. This indicates that job growth in the United States for that month fell short of economists' expectations. The article likely discusses the implications of this data for the labor market and the broader economy.

Why it’s interesting/important

- Consumer Behavior: Lower incomes may lead to changes in consumer behavior. People may prioritize spending on necessities over discretionary items, affecting businesses in different industries. This means demand will decrease and the sellers could earn income less and in the end that business might be bankrupt from high supply.

- Limited Economic Mobility: Insufficient income can hinder economic mobility. It might be challenging to invest in education, develop skills, or save for significant life goals, such as homeownership or retirement. 

- Economic Inequality: Widespread low salaries can contribute to economic inequality within a society. It can lead to disparities in wealth and opportunities. For example, if we want to invest we might borrow from a bank with interest depending on how much we will get money, but now the bank will set interest higher to save themself, which can have social and political implications.

When people earn lower salaries, it has a cascading effect on various aspects of their lives and the broader economy. Addressing income disparities and ensuring that people earn a livable wage is an important social and economic issue. It impacts individual well-being, economic growth, and societal well-being, and it often becomes a subject of policy and public discussion

Ref:https://www cnbc com/2023/11/03/jobs-report-october-2023-us-payrolls-increased-by-150000-in-october-less-than-expected.html
Posted by 6405564 Raksit Nuangsunant

Summary:
South Africa's jobless rate increased in the first quarter of this year after falling for four straight quarters the previous year as the nation struggled with historic power outages which rolling power outages have been a major impediment for the past 10 years, hurting businesses of all kinds and reducing the country's potential for growth. According to Statistics South Africa, the rate of unemployment increased from 32.6% in the first quarter of 2021 to 32.9% in the first three months of 2023.

Why it's Interesting/Important:
Unempolyment affects GDP growth because output and employment are positively correlated since output is determined by the quantity of workers employed in the manufacturing process, and damage economic stability. These associate with low econimic expansion and high level of inflation along with the interest rates. High of unemployment rate has aggravated the problem of poverty and inequality. In addition, the unemployment problem in South Africa will directly affect young generation and people with low skill level. Nevertheless, the unemployment in younger generation must be considered as much as possible since this problem can be a part of future risk.

References: https://www reuters com/world/africa/south-africas-unemployment-rate-rises-329-q1-2023-05-16/
Posted by 6405572 Saranya Musikawan

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Summary

After covid19 situation in the first quarter of 2022, Netflix announced that the number of members had decreased by 200,000 people and predicted it would decrease the opposite way of investor prediction. This is due to the growth of other streaming services such as Disney+, apple TV, HBO, and other platforms. Factors after COVID include inflation and the case of Russia invading Ukraine, causing Netflix to withdraw from Russia and made loss Russia customer more than 700,000 people.
However, Netflix has plans to solve the bad situation by increasing the price of sharing ID and Earning profit from advertising on their

Why this new is important?
this is the perspective of the business about the platform that had been rising in the market in covid situation turned to be a the
negative effect after COVID-19 after other streaming growth.

platform.https://brandinside asia/netflix-subscribers-plunge-for-the-first-time/[url=https://servimg com/view/20530755/2]
post by 6405587 Ariya Kalpana

Summary

AI's integration, as seen in technologies like ChatGPT by OpenAI, is changing our daily lives. This has raised concerns about its impact on jobs. A study in 2013 predicted a significant 47% risk of job loss in the next decade due to AI.

However, there's some counter theory. The World Economic Forum predicts that by 2025, AI could eliminate 85 million jobs globally, but it also anticipates the creation of 97 million new jobs related to AI. This contrasting outlook emphasizes the complex impact of AI on employment.

The debate about how AI will shape the labor market continues. More research is needed to fully understand its effects. This discussion also underscores the importance of well-thought-out strategies and actions to ease job displacement and ensure a smooth transition to an AI-driven world.

Why it's Interesting/Important

- In the very near future, there is a potential risk of mass unemployment, caused by the rise of AI.

- The World Economic Forum predicts there will be a lot of jobs replaced by AI, but there will also be a lot of new jobs in AI-related fields to compensate. My concern is that AI and coding require specific skills, making quick reskilling difficult. How can we best mitigate unemployment’s impact and ensure a smooth transition?

Image reference: (https://)genhq.com/wp-content/uploads/2017/06/AivsHuman-copy.jpg

Article reference: (https://)cepr.org/voxeu/columns/impact-artificial-intelligence-growth-and-employment

Posted by:  Benchaya Boonrit 6405615

Summary:
The European Commission has proposed a sixth package of sanctions against Russia in response to its invasion of Ukraine. This proposed package includes a ban on the import of Russian oil, a prohibition on providing technical services to Russian airlines, and additional sanctions on Russian banks and state-owned enterprises.

The ban on importing Russian oil is the most significant part of these sanctions. Since oil is Russia's primary export, this ban would significantly affect their income. Additionally, it would also impact the European economy because the EU imports 27% of its oil from Russia.

Furthermore, the prohibition on providing technical services to Russian airlines would make it difficult for Russia to maintain its aircraft. The additional sanctions on Russian banks and state-owned enterprises would further isolate Russia from the global financial system.

Why this news is interesting/important?:

I find this news interesting and important because it demonstrates the EU's readiness to take substantial action in response to Russia's invasion of Ukraine. The proposed sanctions are the most severe measures the EU has ever imposed on Russia, and they aim to have a significant impact on the Russian economy.

It is essential for people to be concerned about these proposed sanctions because they will inevitably affect the global economy. These sanctions could potentially lead to higher energy prices and inflation, along with having a negative impact on businesses and consumers.

Additionally, I believe it is crucial for people to be aware of these proposed sanctions because they symbolize the EU's commitment to defending its values. The EU is not hesitant to take strong action against countries that violate international law. They are sending a message to the world, opposing war and violations, particularly Russia's actions in Ukraine.

References: https://ec-europa-eu/commission/presscorner/detail/en/IP_22_2802

Indonesia's rice production disrupted by El Nino, raising inflation  

Summary
The extreme El Nino phenomenon in Indonesia has disrupted the rice production in the largest economy of Southeast Asia, which has resorted to imports to secure domestic stocks.

A prolonged drought resulting in lower rice production has pushed the price to soar. A Strong El Nino phenomenon typically means less rainfall for the thirsty crop. It affects Asia in particular, where rice is a staple food for most people.

The disturbed rice production also contributed to the rising inflation rate. According to Statistics Indonesia (BPS), the consumer price index was recorded at 2.56 percent year-on-year in October, up slightly compared to the previous month of 2.28 percent, due to raised prices of necessities such as rice.

Why it is important/interesting?
Supply falls: Since rice production decreased due to the El Nino phenomenon, the supply of rice will fall, and the price of rice will increase.
Higher food price: In Asia, rice is one of the main ingredients of food. When the rice price rises up, the food price will increase also.
The rising inflation rate: the raised prices of rice, which is one of the necessities, causes the increase in consumer price index. Then the rising consumer price leads to the rising inflation rate.

Reference
www(dot)bangkokpost(dot)com/business/general/2678556/indonesias-rice-production-disrupted-by-el-nino-raising-inflation

News: Shipping industry Maersk to cut 10,000 jobs as shipping demand drops



Summary:
the largest shipping company, Moller-Maersk is cutting 10,000 jobs because of a drop in demand triggered by the global economic slowdown. Maersk revealed that it had already axed 6,500 jobs this year, taking its headcount from 110,000 in early 2023 to 103,500 today.

Maresk employees are the latest workers to be affected by the global economic slowdown, which follows a string of big shocks, including the pandemic, the war in Ukraine and a cost of living crisis that, for many countries, has involved inflation soaring to its highest level in 40 years. Attempts to curb inflation through interest rate increases have subsequently dented consumer spending power across the US, Europe and Asia, forcing companies to tighten their belts and either curb hiring or cut existing jobs.

Importance:
Lower labour demand: because Moller-Maersk cut about 10,000 jobs and the global workforce will be shrink. While the labour supply remain the same, so the real wage will be lower.

A drop in demand for goods: Due to the global economic slowdown and the situation of pandemic and war, the inflation rate  rises up a lot in many countries and increase of interest rate . As a result, many firms cut the jobs and many people will lost their jobs. Then they will have less money for spending. It will lead to a drop in demand for goods.

Reference: theguardian(dot)com/business/2023/nov/03/maersk-to-cut-10000-jobs-as-shipping-demand-drops

Summary:
According to a CNBC report, Australia is trying to expand its trade with China while keeping current trade levels stable. The goal is to strengthen and widen trade ties with China, giving importance to existing free trade agreements, especially with the European Union. It's impressive that Australia already has trade deals with over 20 countries and is actively working on more. Additionally, there are talks between Canberra and China to possibly lower tariffs on Australian wine imports that were put in place in March 2021, showing efforts to improve trade relations.

Why This News is Interesting/Important?
Australia is being smart about international trade by trying to spread out its trade partners, not relying too much on just China. This could make Australia's economy stronger and less likely to be affected by political issues or problems in specific markets. This move also fits with a trend where countries are trying to find a balance between economic interests and political concerns in their trade policies. When Australia makes deals with countries like the European Union that allow for easier trading, it means Australian companies can sell their stuff in new places, potentially driving economic growth.

Reference:
cnbc.com/2023/10/31/australia-wants-to-diversify-its-trading-relationship-with-china.html

An undervalued yen poses problems for the Bank of Japan (BoJ)



Summary:
Japan’s exchange rate began to depreciate sharply in 2022. When it exceeded 145 yen against the US dollar by September 2022, and then 150 yen in October. After that , because of the decline in long-term interest rates in the US from November 2022, the exchange rate returned to below 140 yen and reaching 130 yen against the US dollar by early 2023. But the yen is still considered undervalued compared to Japan’s economic fundamentals which are around 100 to 110 yen. The extremely depreciation of yen resumed from May 2033, the yen has declined by around 30 percent against the US dollar and 20 percent against major currencies due to the BoJ’s monetary easing policy. While the United States and Europe are increasing the interest rate to curb inflation. It’s a hard work for the BoJ on how to correct the extreme depreciation of the yen without causing significant damage to markets.

Why the news is interesting/important that we should know:
Depreciation of the yen increases the profits of exporting companies in yen terms. Meanwhile, it gives negative effects in the part of the import. Japan is the country that imports natural gas and oil, due to the war in Ukraine induce cost of energy to increase. When the yen is undervalued, it causes importing expenses to increase. Low purchasing power also attracts tourists because it makes goods and services in Japan cheaper for foreigners.

Reference: eastasiaforum.org/2023/10/31/an-undervalued-yen-poses-problems-for-the-bank-of-japan/

News in brief :
India's economic recovery is drawing attention from all around the world and making it a major role. But there are still significant obstacles to overcome, and China's economic might is still considerably superior. In terms of economic size, investment, and consumer spending, India lags behind China despite reforms, infrastructural development, and advancements in digital technology propelling its rise. Being a significant contributor to the global economy requires maintaining a strong growth rate. The way these Asian behemoths interact now will have a significant impact on how the world economy develops. China is changing quickly, but India is moving faster due to regulatory obstacles, which are promoting international investment and supply chain diversification.

Why is this news interesting or important? :
In terms of Global Economic Balance, Both India and China are major players in the global economy. A shift in their relative economic performance can have implications for the global economic balance. Furthermore, for Investment and Trade, this news may influence foreign investment decisions and trade relationships. Businesses and investors can reconsider their plans and think of India as a more attractive location for trade and investment.

Reference :
edition.cnn.com/2023/11/03/economy/india-economy-china-successor-potential-intl-hnk/index.html

Summary

TikTok, owned by ByteDance, has guaranteed to invest billions of dollars in Southeast Asia over the next few years despite the increasing of global concerns over data security. The region, with a 630 million population and 325 million monthly TikTok users, presents a major market for TikTok. However, TikTok faces stiff competition from e-commerce giants like Shopee, Lazada, and Tokopedia and it's working hard to convert its enormous user base into a significant source of e-commerce revenue. The investment plan will cover things like helping small vendors, advertising, and training. Although growing its content and branching out into e-commerce, TikTok still ranks behind competitors in terms of e-commerce sales. The app has been the subject of data security scrutiny and has been banned in several countries; however, in Southeast Asia, content-related concerns more than government bans.

Why it's Interesting/Important?

-This indicated that Southeast Asia is the major market for TikTok
-Tiktok may become one of the biggest e-commerce in the future due to its enormous user base in Southeast Asia. This will affect the market to be more competitive and beneficial to the customers because they will have more choice to choose when buying any goods.
-Tiktok has an advantage on the e-commerce market because sometimes the users are not interested in buying anything; however, when they watch the videos on their page which contain interesting products. The desire for that goods will occur. Finally, they will choose to buy it from TikTok
-Due to the fact that users can use TikTok as the platform for sharing any content. This makes people have more enjoyment in playing social media, which makes TikTok attract more users everyday. Besides, posting short videos and pictures. Users can send the message with their friends and also like and comment. On top of that. Therefore, TikTok can become one of the main social media in the future.

Image Reference: (https://)cloudfront-us-east-2.images.arcpublishing.com/reuters/SB7I5EUMZZLH7BHTFS75SMA24M.jpg
Article Reference: (https://)edition.cnn.com/2023/06/15/tech/tiktok-southeast-asia-billion-dollar-investment-intl-hnk/index.html

Posted by 6405624 Sutida Lekprateep

Summary

The Thai government is investigating a growing issue of Thai nationals being deported by South Korean immigration. Thai netizens and influencers have shared negative experiences of being denied for entry to South Korea. Due to the subsequently deported situation and sharing opinion on X, Thai citizens created the hashtag #BanTravellingtoKorea. Concerns of discrimination have arisen, with speculations that deportations are results from Thai citizens who travel to Korea with a tourist visa and then work there illegally instead. Suggestions have been made that Korea needs to require Thai citizens to apply for visa and undergo screening from the beginning to solve the problem.

Why it's Interesting/Important?

-This makes Thai citizens have more awareness when they want to go to South Korea. So, they can prepare enough documents to make them enter the country successfully.
-Make Thai citizens realize that a lot of our citizens have worked illegally in South Korea and this problem needs to be solved.
-As our citizens working illegally in South Korea created a negative effect on Thai citizens’ appearance.
-If the problem hasn't been solved, it will have a negative appearance on South Korea immigration. This may make Thai citizens not want to go to South Korea. On top of that, this may affect the visits of people from other countries due to the discrimination. Therefore, the income in South Korea may decrease in the future.

Image Reference: (https://)static.bangkokpost.com/media/content/20231101/c1_2675911.jpg
Article Reference: (https://)(www).bangkokpost.com/learning/easy/2675911/thais-face-south-korea-entry-issues\

Posted by 6405624 Sutida Lekprateep

Summary
Starbucks announced its development strategy, which includes expanding the company worldwide while cutting $3 billion in costs over the next three years.
The company's "reinvention" plan is increasing both sales and efficiency and addresses many of the issues that have afflicted Starbucks and baristas in recent years. For example, new coffee-making equipment and shop layouts, as well as more automation, since drink orders have become more complicated and time-consuming.
Still, the union and the NLRB have both accused Starbucks of violating federal labor law, including improperly delaying salary increases at union locations. All charges of union busting are denied by the employer.

Why it is interesting/important?
In the article, we can assume that People continue to have demand for drinking Starbucks beverages, with an increasing trend as evidenced by the expansion of branches and rising earnings. This is due to responding to customer demands for precision and the speed of making drinks using technology. However, the labor demand is less due to jobs being taken away by machines in the reason that laborers were unable to adequately meet customer needs. Moreover, technology usage help company reduce their cost of goods sold.
Therefore, it is necessary to acknowledge and have an awareness of how technology impacts our lives in the economic market and also the growth in business.

Reference: cnbc.com/2023/11/02/starbucks-unveils-expansion-plans-cost-cutting.html

Summary
The U.S. dollar slightly strengthened against a group of currencies as data revealed that the U.S. economy achieved its fastest growth rate in nearly two years during the third quarter. Gross domestic product (GDP) increased at an annualized rate of 4.9%, the quickest pace since the fourth quarter 2021, surpassing economists' expectations of a 4.3% rise. The dollar index, which measures the dollar's performance against six other currencies, inched up to 106.58, reaching a near three-week high of 106.89 earlier in the session.

Why it’s interesting/important
When the U.S. dollar strengthens due to accelerated economic growth, a stronger dollar can have various implications for the global economy, affecting international trade, financial markets, and more. Exporters may find it more challenging as their goods become more expensive for foreign buyers, while importers may benefit from lower costs. Additionally, the strength of the dollar can impact commodity prices and global financial markets.

Reference
cnbc.com/2023/10/26/dollar-firms-yen-weakens-to-intervention-wary-level.html?&qsearchterm=economic