Asia Insights

Ho Chi Minh City has been ranked 4th in the list of the world's 20 best cities for food in 2024 by Time Out. This ranking highlights the city's vibrant and diverse culinary scene, which includes both traditional Vietnamese dishes and innovative modern cuisine. The list also features other top food cities like Naples, Johannesburg, and Lima, which hold the first three spots, respectively.

Here is the full list of the best 20 food cities and their representative dishes:

Naples, Italy

Dish: Pizza Margherita

Johannesburg, South Africa
Dish: Bunny Chow

Lima, Peru :
Dish: Ceviche

Ho Chi Minh City, Vietnam
Dish: Phở

Beijing, China
Dish: Peking Duck

Bangkok, Thailand
Dish: Pad Thai

Kuala Lumpur, Malaysia
Dish: Nasi Lemak

Mumbai, India
Dish: Vada Pav

Dubai, United Arab Emirates
Dish: Shawarma

Portland, OR, USA
Dish: Food Truck Cuisine

Liverpool, UK
Dish: Scouse

Medellín, Colombia
Dish: Bandeja Paisa

Seville, Spain
Dish: Serranito

Porto, Portugal
Dish: Francesinha

Marrakech, Morocco
Dish: Tagine

Lyon, France
Dish: Saucisson Brioché

Sydney, Australia
Dish: Barramundi

Montreal, Canada
Dish: Poutine

Osaka, Japan
Dish: Okonomiyaki

Copenhagen, Denmark
Dish: Smørrebrød

These cities were chosen for their diverse and high-quality culinary offerings at reasonable prices​ (Time Out Worldwide)​​ (Time Out Worldwide)​.

21 Things You Didn't Know About China:

1.China hosts the world's oldest continuous civilization, with written records spanning over 3,500 years.

2. The Great Wall of China is not a single uninterrupted wall, but a series of walls and fortifications. It is the longest wall in the world, with an estimated length of 13,170 miles (21,196 kilometers).

3. China is the most populous country in the world, with over 1.4 billion people, representing approximately 18% of the global population.

4. The country uses a "social credit" system that evaluates citizens based on their behavior and rewards or penalizes them accordingly.

5. The Yangtze River in China is the third longest river in the world, stretching 6,300 kilometers (3,917 miles).

6. The Chinese invented paper, the compass, gunpowder, and printing, among other things. These inventions are often referred to as the four great inventions of ancient China.

7. The Giant Panda, one of the most endangered and beloved animals in the world, is native to China and serves as an unofficial national symbol.

8. China is the largest producer and consumer of rice in the world and plays a central role in the country's cuisine and culture.

9. China is one of the largest countries by land area, covering approximately 9.6 million square kilometers, making it the fourth largest country in the world.

10. The Terracotta Army, discovered in 1974 in Xi'an, consists of thousands of life-sized clay soldiers that were buried with Qin Shi Huang, the first Emperor of China, to protect him in the afterlife.

11. Feng Shui, an ancient Chinese practice of arranging the physical environment to harmonize with spiritual energies, originated in China over 3,000 years ago.

12. The Silk Road was an ancient network of trade routes that connected China to the Mediterranean, facilitating not just trade, but also the exchange of ideas and cultures.

13. China is one of the oldest tea-producing countries in the world, with a history of tea cultivation dating back over 3,000 years.

14. Chinese New Year, also known as the Spring Festival, is the most significant traditional Chinese holiday, celebrated with fireworks, dragon dances, and family reunions.

15. The Forbidden City in Beijing is the largest palace complex in the world, consisting of 980 buildings over 180 acres.

16. China's high-speed rail network is the most extensive in the world, with over 37,000 kilometers (about 23,000 miles) of tracks.

17. Traditional Chinese medicine, with its roots over 2,500 years old, emphasizes balancing the body's internal energy and harmony with the natural world.

18. China was the first country to use paper money, during the Tang Dynasty (618-907 AD).

19. The concept of Yin and Yang, representing the idea that opposite forces are interconnected and interdependent, originates from ancient Chinese philosophy.

20. The Chengdu Research Base of Giant Panda Breeding in Sichuan Province is a renowned facility dedicated to the conservation of giant pandas.

21. China has a "megacity" called the Pearl River Delta, which is the largest urban area in the world by both size and population, surpassing Tokyo.

Vietnamese students ranked No. 1 in the world in Informatics at the 2024 International STEM Olympiad in the Netherlands.

Overcoming outstanding representatives from more than 30 countries, 7th grade student Bui Bao Khanh won No. 1 in the world in Informatics for grades 6-7-8 at the 2024 International STEM Olympiad.

3rd place place was achieved by Stefan Andrei from Romania, also bringing pride to his nation.

Vietnam: The Rising Star of the Real Estate Market in Asia Pacific

Greetings from Asia Insights Vietnam! Today, we venture into the fascinating world of Vietnam's real estate market, a country rapidly transforming into a magnet for investors in the Asia Pacific region.

Vietnam is experiencing a period of transformative economic growth, becoming a key player in the Asia Pacific real estate market. According to VnExpress International, this burgeoning market has been ranked the second most preferred emerging real estate market by CBRE's 2024 Asia-Pacific Investor Intentions Survey.

Hang Dang, Managing Director at CBRE Vietnam and member of the PropertyGuru Vietnam Property Awards judging panel, offered valuable insights into this phenomenon. She explains how robust economic growth, driven by factors such as increasing foreign direct investment (FDI), an expanding middle class, and rising domestic consumption, attracts investors worldwide.

Another crucial aspect is the country's favorable demographics, with a young and dynamic population providing a large consumer base and potential workforce.

"Rapid urbanization and ongoing infrastructure development projects, including transportation networks, industrial parks, and urban areas, create significant investment opportunities in various sectors such as residential, commercial, and industrial real estate," says Hang Dang.

Political stability and investor-friendly policies, combined with Vietnam's strategic location within Southeast Asia, enhance connectivity to regional markets and promote trade and investment opportunities.

Comparing Vietnam's real estate market to other regional markets, Hang Dang notes that while established markets like Singapore offer stability and mature investment environments, Vietnam stands out with high growth potential and relatively lower entry costs.

Optimism is also reflected domestically. The Star reports an anticipated revival of Vietnam's real estate market in 2024, following a challenging 2023 marked by a supply shortage and reduced investment demand. The revised Land Law, highlighted by the Vietnam Law and Legal Forum, expands land use rights for overseas Vietnamese, mobilizing significant investment resources.

The international acclaim for Vietnam's real estate sector was evident at the 18th PropertyGuru Asia Property Awards Grand Final 2023, where Vietnamese companies like SonKim Land Corporation, Keppel Vietnam, TBS Land, ParkCity Group, and Gamuda Land claimed major awards.

To address challenges and leverage opportunities, the government is implementing measures to ensure sustainable development and address housing affordability issues. In recent years, licensing issues have been a major challenge, leading to a decline in the number of new residential launches and increased selling prices.

To support the real estate market, the government has implemented programs aimed at providing affordable housing support and passed revisions to land laws, real estate business laws, and housing laws. These revised laws, set to take effect in 2024, aim to resolve existing licensing issues and foster a more sustainable development environment for Vietnam.

Vietnam is experiencing a dynamic phase of growth and transformation in the real estate market. With its strategic advantages, proactive government policies, and increasing international interest, the country is positioning itself as a formidable force in the Asia Pacific real estate landscape.

Below are some images of the new
"Downtown The Global City" :

THE SECOND "CENTRAL CITY" OF HO CHI MINH CITY
THE ICONIC URBAN AREA OF SOUTHEAST ASIA

In the development of global cities, having more than one "downtown" area is a common trend. Singapore, for example, has turned the once barren Marina Bay into a bustling secondary "downtown," now a regional icon.

"Downtown The Global City is envisioned as a vibrant new hub, offering a 24/7 environment to live, work, and study, capturing the essence of Southeast Asia and beyond.

Explosive! Japanese Banks Charge Fees to Keep Your Money in Their Accounts!!

Banks in Japan: From Interest to Fees

In a continuously changing global financial landscape, Japanese banks have adopted an unusual approach to managing customer deposits. Unlike most banks in other countries, Japanese banks do not offer interest on savings. Instead, they charge fees to keep money safe. This practice may seem counterintuitive, but it has deep roots in Japan's monetary policy and economic context.

Since 2016, the Bank of Japan has introduced negative interest rates as part of an economic stimulus strategy. The goal of this measure was to encourage banks to lend money and stimulate investment and consumption in an economy affected by deflation and economic stagnation. However, negative interest rates have put pressure on banks' profit margins, forcing them to find new sources of income.

In this context, Japanese banks began charging fees for customer deposits instead of offering interest. This practice has several implications:

Administrative Costs: Banks need to cover the costs of managing and securing funds, and fees help offset these expenses.

Negative Interest Rates: Since banks pay negative interest on their reserves at the Bank of Japan, charging fees helps compensate for these costs.

Stimulating Investment: The negative interest rate policy is intended to encourage depositors to invest their money instead of keeping it in savings accounts. Thus, banks try to discourage the accumulation of passive savings.

Despite these measures, many Japanese people continue to prefer keeping their savings in bank accounts due to the safety and stability these institutions offer. However, charging fees has generated some dissatisfaction and debate among the population and the business community.

The situation of Japanese banks is a clear example of how economic and monetary policies can influence financial strategies and saving behaviors of the population. It is a fascinating subject to analyze for anyone interested in global economic dynamics and innovations in the banking sector.

Vietnam 🇻🇳
The New Global Economic Powerhouse – "The Second China" on the Rise

Since 2020, I have predicted that Vietnam would become "The Second China" on the global economic stage. Many of my associates know this, and I have frequently posted about Vietnam - "The Second China." Recent events and economic data confirm this anticipation. In this context, I want to analyze Vietnam's evolution, using perspectives from The Economist and Ziarul Financiar, with a focus on economic relations with Eastern Europe and Romania.

Vietnam's Strategic Positioning
Vietnam is ideally positioned to attract foreign investments due to its cheap labor force and balanced foreign policy. The country is becoming a key player in global supply chains, and its trade relations with Eastern European economies demonstrate this. From January to May of this year, Vietnam exported goods worth $1.2 billion to Poland, importing only $154.3 million. Hungary and Romania are other relevant examples.

Interactions with Eastern Europe
Vietnam is by far the dominant power in trade relations with Eastern Europe. These are the figures that speak for themselves:

Poland: Vietnam exported goods worth $1.2 billion and imported only $154.3 million.
Hungary: Vietnamese exports totaled $244 million, while imports were $78.4 million.
Romania: Vietnam exported goods worth $141 million, while imports from Romania were only $63.4 million.
These data clearly show Vietnam's economic advantage, positioning it not only as a partner but also as a dominant competitor for Eastern European economies.

Trade Agreements and Investments
Vietnam benefits from free trade agreements with over 60 countries, consolidating its position in global supply chains. Hungary, for example, has invested in 21 Vietnamese projects, totaling over $72 million. On the other hand, Vietnam has invested in only two projects in Hungary, but with a capital of nearly $6 billion.

An Alternative to China
European companies are increasingly turning to Vietnam, seeking an alternative to China for several reasons:

Political and trade tensions between Beijing and Western capitals.
Rising wages for Chinese workers.
Radical policies of the Chinese government, such as the zero-COVID policy, which disrupted international supply chains.
The slowdown of the Chinese economy.
Vietnam is seen as a more stable and cost-effective option, thus attracting European manufacturing production.

Bamboo Diplomacy
Vietnam has adopted an independent and balanced foreign policy, known as "bamboo diplomacy." This strategy allows Vietnam to maintain positive relations with major powers and obtain significant economic and political benefits. Expert Nguyen Khac Giang explains that this "active neutrality" is essential for Vietnam to successfully navigate the global geopolitical landscape.

Romania and Vietnam: An Expanding Strategic Economic Partnership
Last year, Romania began to strengthen bilateral relations with Vietnam, bringing a series of economic and strategic benefits for both countries. During these bilateral meetings, it was decided that the port of Constanța would become the main gateway for Vietnamese goods into the European Union. This agreement will bring enormous benefits to Romania, facilitating the transit of goods through the port of Constanța and then on the Danube or by land routes.

Another important aspect of this partnership is the Vietnamese side's commitment to helping Romania gain access to ASEAN markets. "Vietnam is ready to serve as an entry point for Romania into ASEAN markets," said the Vietnamese official. This will open new trade opportunities for Romanian companies, allowing them to explore and take advantage of emerging markets in Southeast Asia.

Romania is a traditional partner of Vietnam in Southeast Europe and a gateway for Vietnam to pe*****te EU and Western Balkans markets. It is important to mention that Romania was one of the first countries to ratify both the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA). These agreements represent a solid framework for the development and expansion of bilateral economic relations.

These developments underline the strategic importance of the partnership between Romania and Vietnam, strengthening economic ties and facilitating mutual access to international markets. The port of Constanța will play an essential role in this dynamic, becoming a central logistics hub for Vietnamese goods destined for Europe.

Conclusions
According to The Economist's analysis, Vietnam is one of the few countries excellently positioned to become wealthy. Its current economic and political trajectory places it in an advantageous position, confirming my 2020 predictions that Vietnam will become "The Second China." This path highlights not only economic opportunities but also the geopolitical challenges that Vietnam skillfully manages.

Ziarul Financiar: "Vietnam has become a miniature China."

The Economist: "Few countries are better positioned than Vietnam to become rich."

Countries with the most
Skyscrapers in the World (May 2024)

Impact of the Huawei Ban: A Deep Analysis of Global Geo-Economic Changes and Investments in Education in Vietnam"

In a time where foreign policy and technology intersect, the ban on the Chinese tech giant Huawei has sparked a series of major changes in the global economic landscape. Following the decision in 2020 to ban Huawei in various markets, including the United States and other Western countries, a chain of events has unfolded, leading to substantial shifts in the balance of economic and technological power.

First and foremost, the ban on Huawei represented a countermove against China's rise as a global technological power. However, the results have been contrary to initial expectations. Instead of weakening China, the ban has forced it to intensify its efforts to develop its own technologies and infrastructure. By focusing on innovation and technological independence, China has strengthened its position in the global technology sector, demonstrating that it cannot be underestimated or blocked without major consequences.

In parallel, the ban on Huawei has exposed the educational and technological vulnerabilities of the West. It is evident that the low level of education and innovation in Europe and the United States not only hampers their ability to remain competitive in a digitized world but also exposes them to the risk of losing ground in the face of counteraction from China and other emerging technological actors.

An important aspect of the Huawei ban is its impact on commercial and geopolitical partnerships. While some countries have chosen to ban Huawei for reasons of cybersecurity, others have opted to remain neutral or even develop closer partnerships with China in the technological domain. This has led to the fragmentation of the global technology market and the emergence of new alliances and geopolitical conflicts.

At the same time, in Vietnam, central authorities have mandated provinces to allocate 20% of local budgets to education, a bold move that underscores the importance of investing in human capital for the long-term development of an economy. This initiative has the potential to transform Vietnam's educational and economic landscape and could serve as a model for other countries seeking to strengthen their knowledge base and stimulate innovation.

In conclusion, the ban on Huawei has triggered a series of profound changes in the global economic and technological landscape, and investments in education in countries like Vietnam could play a crucial role in preparing the workforce for the economy of the future. However, it is essential for policymakers and economists to be prepared to navigate an extremely dynamic and interconnected environment, taking into account all the complex aspects of ongoing global changes.

By S. B.

Japan's Yen Dilemma: Government and BOJ Standby as Currency Hits Record Low"

The yen fell to a historic low against the US dollar, yet the government and the Bank of Japan observed without intervening.

The yen's decline reached 158.40 yen on the New York foreign exchange market on Friday, marking the weakest level in 34 years. Business leaders have called for measures to correct the yen's decline.

"So far, the yen's decline has not significantly affected the fundamental rate at which prices rise," said BOJ Governor Kazuo Ueda at a press conference Friday afternoon.

He did not make strong efforts to control the yen's decline, which decisively led to a market trend of selling yen and buying dollars.

As many market players expected, the BOJ decided to maintain its current monetary policy. The same players believed Ueda would suggest the rapid implementation of an additional interest rate hike. If the yen remains weak in the long term, prices will be at risk of rising at a higher rate than the 2% target stable inflation rate and an increase in raw material costs caused by such price increases could lead to consumer spending stagnation.

However, Ueda's remarks at the press conference were interpreted as meaning that the BOJ would tolerate the current situation. Consequently, just half a day after the end of his press conference, the yen fell by over 1.50 yen in New York markets.

Defense Line

The government's and BOJ's efforts to intervene in the market by buying yen and selling dollars have created a sense of caution in the market, and with it, uncertainty has increased.

In September 2022, the first yen-buying intervention in 24 years occurred immediately after a press conference for the central bank's monetary policy meeting with BOJ Governor Haruhiko Kuroda.

In October 2022, market intervention occurred again after the yen fell to a rate of 151.90 yen against the dollar. Thus, market players assumed that 152 yen against the dollar represented the government's "defense line."

This time, however, no signs of intervention were observed after Ueda's press conference. The rate of 155 yen against the dollar was considered another defense line, but even when the yen fell well below this line, Japan did not intervene.

Cabinet members' statements have also changed.

On March 27, when the dollar rose to 152 yen, Finance Minister Shunichi Suzuki warned speculators, saying, "We will take decisive measures against any excessive movements," and the yen-dollar exchange rates stabilized somewhat.

On April 17, finance ministers from Japan, the United States, and South Korea issued a joint statement, acknowledging Tokyo and Seoul's serious concerns about the recent sharp depreciation of the yen and the won. The statement was seen as preparation for market intervention.

But on April 25, US Treasury Secretary Janet Yellen told Reuters that currency intervention should only happen in "very rare and exceptional circumstances," dampening market speculation.

Suzuki toned down his previous statements at a press conference after a cabinet meeting on Friday: "We will closely monitor developments and implement all possible measures."

Time, Scale

The business community has also expressed concern about the excessive depreciation of the yen.

Speaking at a Friday press conference, Takeshi Niinami, president of the Japan Association of Corporate Executives, known as Keizai Doyukai, said the nation was heading for "good price growth," where the economy is stimulated by wage increases outpacing price increases, among other factors, but warned that a weak yen could stand in the way.

"I would describe the depreciation of the yen as extraordinary. I am concerned that Japan's national power is at risk. I hope the foreign exchange market will normalize," said NEC Corp. President Takayuki Morita on Friday.

As it is unlikely for the BOJ to abruptly change policy and restrict lending through further interest rate hikes or other policies, practically the only way to stop the rapid depreciation of the yen is through currency intervention.

But Japan seems to be considering the timing and extent necessary for intervention to have a sufficiently large effect, as the yen-selling and dollar-buying trend cannot be changed given the significant interest rate differential between the United States and Japan.

Takahide Kiuchi, executive economist at Nomura Research Institute Ltd., said, "The government needs to demonstrate to businesses and the public that it is taking measures to prevent the weakening of the yen, and it is very likely that it will intervene in the market.

Currency Winds: Tourist Treasures Flourish in Japan's Weak Yen Era

In the heart of Tokyo's cosmopolitan hustle and bustle, foreign tourists relish the opportunity to immerse themselves in unforgettable experiences in a land of ancient whispers and cutting-edge technology. When it comes to shopping, they not only treat their senses to high-quality products but also discover that their purchasing power is enhanced by a slipping yen, turning each purchase into a rewarding adventure.

In the vibrant Asakusa district, a 36-year-old French tourist finds amusement in purchasing three pairs of shoes, an unexpected delight amplified by the advantageous yen rate. "The food is very cheap. I spent a lot especially on food. I tried everything I wanted," shares another visitor, 31-year-old Dominique Stabile from Italy, revealing the gastronomic delights he savored without exceeding his planned budget.

In addition to the personal satisfaction of tourists, local businesses thrive in a period of economic effervescence. An employee at a second-hand traditional Japanese clothing store reports a significant increase in demand from foreign tourists for authentic Japanese products such as kimonos and handcrafted knives.

This economic effervescence is largely fueled by favorable currency movements. With the yen steadily depreciating against other major currencies such as the US dollar, tourists are encouraged to broaden their shopping horizons and explore premium options at affordable prices.

However, this tourism growth is not without its challenges. Persistent inflation and declining purchasing power of Japanese households bring concerns about the long-term impact of this tourist effervescence. From crowded local restaurants to feelings of cultural invasion, Japan faces complex dilemmas in managing the influx of foreign visitors.

Nevertheless, despite the challenges, Japan remains an unmatched tourist destination, offering a diverse range of experiences and superior quality products. "I believe Japan can trust itself as a tourist destination. Even if the yen reverses its trend, I don't think it would lead to drastic decreases in tourist spending," reflects an expert, highlighting the resilience and continued attractiveness of this fascinating destination.

Culinary curiosity:
Thailand 🇹🇭 and Vietnam 🇻🇳 dominate global rice exports! According to data provided by Statista, these two countries rank among the world's largest rice exporters. Below is a comparative table of rice exports over the past years. 📊

How to Protect the Privacy of Your Conversations on Your Mobile Phone: Step-by-Step Guide

Your mobile phone, a constant companion in our modern lives, can listen without us knowing. While we stay connected to the world around us through these smart devices, there's a risk that our conversations may be recorded without our consent.

Many users have noticed the peculiar phenomenon where their personal discussions turn into targeted ads on their phones. Why? Because the phone's microphone records everything it hears, and these recordings are often used to tailor relevant ads to users.

Though this practice can be unsettling, there are steps we can take to safeguard the privacy of our conversations. Here's a simple step-by-step guide to disable your phone's microphone and prevent unauthorized listening:

Open the Google app: Access the Google app on your mobile phone.
Navigate to your profile: Find and access your profile from the top right corner of the screen.
Access your account settings: In the profile menu, search for and select the "Google Account" option.
Navigate to the privacy section: Look for and access the "Data & privacy” option.
Disable voice and audio activity: In the "Web & App Activity” section, disable the "Include voice and audio activity” option.
Stop saving: Press the "Stop saving” button to halt the saving of voice and audio activity.
Confirm the changes: To finalize the process, press "Got it” to confirm the changes made.
By following these simple steps, you can protect your privacy and prevent unauthorized listening to your conversations on your mobile phone.

𝐓𝐨𝐩 𝟏𝟎 𝐀𝐬𝐢𝐚’𝐬 𝐂𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐌𝐨𝐬𝐭 𝐓𝐨𝐮𝐫𝐢𝐬𝐭𝐬 (𝟐𝟎𝟐𝟒)

Exposed: Tokyo Governor Faces Allegations of Academic Credential Manipulation

In response to recent claims published in a monthly magazine, Tokyo Governor Yuriko Koike has vehemently denied allegations suggesting she falsified her academic credentials. Addressing the issue head-on, Governor Koike emphasized that the premise of the allegations is fundamentally flawed, reiterating that she indeed graduated from Cairo University, a fact corroborated by the university itself.

The controversy stems from an interview with Koike's former aide, Toshiro Kojima, who alleged that he was asked to assist in drafting a document affirming Koike's graduation from the university. However, Koike firmly refuted these claims, stating that she had consistently provided evidence of her academic qualifications, including presenting a graduation certificate during the 2020 gubernatorial election.

Furthermore, Cairo University issued a statement through the Egyptian Embassy reaffirming Koike's graduation from the institution. Despite these clarifications, allegations persist, with Koike expressing disappointment at the recurrence of such stories, particularly in the lead-up to the upcoming Tokyo gubernatorial election in July.

Governor Koike remains steadfast in her commitment to serving Tokyo and its residents, focusing on pressing issues facing the city. As she prepares for her potential third term as governor, Koike continues to stand by the truth and her unwavering dedication to public service.