Abstract PMI ADB Robert Zoellick The service sector recovery is suffering as much as that in manufacturing, Purchasing Mana

Similar documents
Microsoft Word M.D.doc


Abstract Barack Obama Copenhagen % Obama % WB Robert Zoellick WB The US president Barack Obama will go to C

Abstract IMF Christine Lagarde G20 OECD Angel Gurria OECD Entrepreneurship at a Glance 2012 start-up rate ADB WWF Ecological Footprint and Inve

GDP % % GDP % % GDP 56% 68% Executive Office of the President Economic Report of the Pr

2 國 際 經 濟 情 勢 雙 週 報 第 1837 期 本 期 重 點 摘 要 ( Abstract) 隨 著 中 國 大 陸 努 力 向 市 場 注 入 流 動 性 以 提 振 低 迷 經 濟 之 際, 亞 洲 其 他 經 濟 體 也 面 臨 著 相 似 的 遭 遇 由 於 流 動 性 不 斷

國內外經濟金融概況

<4D F736F F F696E74202D20A8E2A9A4AA41B0C8B77EB654A9F6B67DA9F1ABE1A141BB4FC657AAF7BFC4AAF7BFC4AA41B0C8B77EA4A7B0D3BEF7BB50AC44BED420A6BFACB C >

Taiwan Economic Forum Since 1954 formerly Industry of Free China 原 自 由 中 國 之 工 業 台 灣 濟 論 衡 發 行 人 副 發 行 人 發 行 所 劉 憶 如 胡 仲 英 單 驥 黃 萬 翔 行 政 院 濟 建 設 委 員 會

目 錄 致 經 營 者 專 家 引 言 研 究 目 的 台 灣 銀 行 業 前 進 中 國 的 動 機 台 灣 銀 行 業 前 進 中 國 的 機 會 台 灣 銀 行 業 前 進 中 國 的 挑 戰 結 論 與 建 議 參 考 文 獻

公司簡介

台灣經濟研究院

标题

2

Schumpeter Mensch Freeman Clark Schumpeter Mensch 1975 technological stalemate 2000 Van Dujin 1977 OECD 1992 Freeman 1982 Van

Microsoft Word - bxyj2007_01_zongdi225.doc

:, ,, 1985, ; ,,,, ,,, 1992,, 1 : 2005 ; ( ),, ,,,, 1996, 211 %,1997, ( %) ( ),1998,1998,, : 1998,


Microsoft Word Q4-news v1.doc

「當前賦稅改革重點」相關問題研析 - 國家政策研究基金會

低 估 值 蓝 筹 有 大 机 会 除 了 上 述 两 个 板 块 以 外, 低 估 值 蓝 筹 仍 然 被 一 些 基 金 团 队 青 睐 某 些 投 资 团 队 认 为, 目 前 市 场 震 荡 格 局 确 立 向 上 趋 势 没 有 改 变 某 基 金 公 司 认 为, 从 板 块 运 行 来

一 宏 观 数 据 速 览 时 间 事 件 预 测 值 实 际 值 上 期 值 去 年 同 期 值 PMI 2015/10 9: 财 新 PMI 2015/11 9::

Microsoft Word - 103年股東會年報

No

政府再造的基本精神:小而美或小而能?

台灣經濟研究院

目 次 壹 前 言... 2 貳 支 付 系 統 概 述... 4 一 大 額 支 付 系 統... 4 二 零 售 支 付 系 統... 5 參 零 售 支 付 發 展 與 創 新... 7 一 傳 統 零 售 支 付 工 具... 7 二 電 子 商 務 帶 動 零 售 支 付 發 展... 9


2020 World Trade Organization, WTO Asia- Pacific Economic Cooperation, APEC The Company Act (company limited by share) companies limited by

内部资料 注意保存

<B0EAAAF E747066>


2014 年 上 半 年 全 球 石 油 供 应 继 续 增 长, 仍 保 持 在 日 均 9000 万 桶 以 上, 主 产 区 OPEC 原 油 产 量 在 上 半 年 出 现 下 降, 非 OPEC 地 区 尤 其 是 美 国 石 油 产 量 的 增 长 较 为 明 显, 机 构 预 计 下

关 于 本 报 告 欢 迎 阅 读 中 国 港 中 旅 集 团 公 司 香 港 中 旅 ( 集 团 ) 有 限 公 司 发 布 的 第 六 份 社 会 责 任 报 告 本 报 告 全 面 阐 述 了 中 国 港 中 旅 集 团 服 务 于 客 户 员 工 伙 伴 社 会 环 境 等 利 益 相 关

一德期货有限公司

FDI [] [ ] F832 A (FDI) FDI FDI FDI FDI 1991 FDI 0.2% % FDI 2002 FDI FDI FDI FDI FDI FDI H.Chenery A.M.Str

Untitiled

内部资料 注意保存

10412final


2012?????T

1 2 3

3 L K Y Y t =A t F L t K t 1 A 1 15~ UN % 65 7% 55

~ ~

标题

Transcription:

ISSN 1019-2441 1738 501 http://www.cepd.gov.tw 100915 ( ) Cloud Computing web 2.0

2 1738 Abstract PMI 2009 2011 ADB 20116 5.5 Robert Zoellick The service sector recovery is suffering as much as that in manufacturing, Purchasing Managers Indices (PMI) indicated that the growth of services slowed sharply in many of the world s largest economies, often falling to or below levels last seen when the global economy crawled out of recession in 2009. Coming after extremely poor US jobs figures and bad manufacturing data, the latest figures show private sector services, the most important sectors of advanced economies are not sufficiently strong to prevent a global economic slowdown. Local currency bond markets in emerging East Asia continued to expand in the first half of the 2011 as demand from foreign investors increased, with the region s economic growth set to outpace much of the rest of the world. According to the Asian Development Bank s (ADB) latest Asia Bond Monitor showed that emerging East Asia had US$5.5 trillion in local currency bonds outstanding at the end of June 2011. Robert Zoellick, the President of the World Bank (WB) said that the world s economic leaders need to rebalance their thinking as well as their economies. Fiscal deficit and debt in eurozone this autumn may well determine whether the global economy slides deeper into danger, or begins the long climb back. But policy is insufficient for sustained growth; it needs action on the structural dynamics to generate jobs, higher productivity, and a sustainable long-term rebalancing. International financial markets tumbled as darkening global economic outlook and deepening fissures in Europe over its debt crisis fueled investors fears the world economy could slip into a period of prolonged recession. Investors are concerned that more-mature economies have entered a period of prolonged weakness related to heavy debts and aging populations.

1738 3 5 2012 4. 29 1. 14 G7 2012 OECD G7 EIA 2. 18 2011 1,000 5. 33 3. 26 6. 38 OECD 2005

4 1738 7. 41 8. 45 9. 48 8 20112020 10. 57 11 66 2013 67 8 5.3% 4.0% 68

1738 5 Cloud Computing web 2.0 1 1 SaaS PaaS IaaS OS IT (2011) 20113 1 http://data.ccidconsulting.com/ei/yjs/sdpl/webinfo/2011/03/1301533331053924.htm 2011/09/09

6 1738 1 20117 12 IT ( ) http://www.iii.org.tw/service/3_1_1_c.aspx?id=892 20117 25 2008 20117

1738 7 12 1 101 41.8 2011 201010

8 1738 5 (1) (2) (3) test-bed SaaS PaaS IaaS 5 2 20107 2010 8 20114 IntelIBM

1738 9 2 5 2015 500 2,000 3 1,000 2011 IT 20114 http://www.cio360.net/portals/0/skins/20110412hp/p07.pdf2011/09/09 20114 5 (1) (2) 5 3 1 (1) (2) (3)

10 1738 3 20104 20107 2010 2012 2013 2015 500 2,000 20107 20107 20108 10 10 201012 20111 IBM 2016 20114 40 10 20114 20114 20114 IBM 20118

1738 11 20115 20115 20116 2015 20118 2015 3,000 4

12 1738 4 IBM 200821 2008624 Cloud Computing Center 20085 10 IBM IBM MS 2009515 Intel 20081230 09 1 5

1738 13

14 1738 1. Nouriel Roubini George Soros 2008 Soros Roubini 6 2013 2013 Roubini 3 60% 2013 5 Roubini BRICS

1738 15 G7 G7 819 1:75.94 G7 G7 G7 311 201192 PMI 2009 HSBC Markit PMI 8 PMI7 53.5 50.3 50 HSBC Hong-Bin Qu 8%9% 8PMI7 59.6 57.6

16 1738 8 PMI 20099 Markit Chris Williamson 8PMI7 51.6 51.5 0.2% Francois Cabau PMI 51.12009 PMI 201195 OECD OECD 2011 OECD G7 GDP 2011 0.4% 5 2.9% 1.1% 5 3% 0.4% OECD Pier Carlo Padoan 3 G7 Padoan G7 G20 OECD Fed OECD OECD 201199

1738 17 G7 G7 G7 G7 G7 G7 IMF G20 G20 11 Cannes G20 G7 2008 2009 G7 G20 G7 IMF Peterson Michael Mussa 2011 1.9% 2012 2.6% 4 2011910 OECD OECD 34 7

18 1738 6 102.2 101.6 OECD OECD OECD 9 G7 100 2 2011 913 2. 2011829 991 / 77.28 0.59% / 0.7157 3.15% / 0.6252 0.87% / 0.8522 7.24% 1 829 92 95 9 2-1 7 0.8% 0.5%8 PMI 200911 56.5093 41.4 40.5 4,470 1 76.5 96 76

1738 19 2-1 (1) 9/59/9 (2)(1)(2) % 8/299/2 + - 77.28 76.76 +0.6748 0.7157 0.6961 +2.8213 0.6252 0.6149 +1.6676 0.8522 0.8042 +5.9584 0.9886 0.9784 +1.0487 0.9457 0.9359 +1.0394 1.2128 1.2043 +0.7108 7.7922 7.7889 +0.0419 1072.96 1067.15 +0.5444 29.108 28.992 +0.4001 CEIC 20119 11 2-2 06 1.268 0.511 0.758 1.220 1.165 1.534 119.020 7.777 930.00 32.590 07 1.139 0.504 0.685 1.133 0.988 1.436 111.710 7.798 935.80 32.430 08 1.432 0.684 0.718 1.067 1.224 1.438 90.790 7.750 1,262.00 32.760 09 1.114 0.619 0.698 1.036 1.046 1.404 93.080 7.754 1,163.65 31.950 10 0.988 0.650 0.754 0.937 1.001 1.289 81.670 7.781 1,130.60 29.140 10-051.178 0.690 0.808 1.153 1.050 1.404 90.810 7.785 1,194.50 32.000 10-061.179 0.669 0.814 1.077 1.061 1.396 88.490 7.787 1,220.85 32.270 10-071.105 0.636 0.765 1.041 1.029 1.360 86.430 7.767 1,182.00 31.950 10-081.114 0.644 0.783 1.027 1.055 1.353 85.100 7.779 1,195.10 31.980 10-091.037 0.636 0.735 0.981 1.029 1.316 83.530 7.760 1,140.10 31.190 10-101.021 0.624 0.719 0.984 1.020 1.294 80.470 7.751 1,125.16 30.624 10-111.041 0.642 0.767 0.999 1.027 1.320 83.560 7.765 1,157.20 30.470 10-120.988 0.650 0.754 0.937 1.001 1.289 81.670 7.781 1,130.60 29.140 11-011.002 0.623 0.729 0.940 1.002 1.279 81.970 7.793 1,119.10 29.030 11-020.983 0.615 0.725 0.931 0.974 1.272 81.940 7.788 1,123.70 29.740 11-030.965 0.623 0.705 0.916 0.972 1.260 82.760 7.775 1,097.25 29.400 11-040.914 0.599 0.675 0.867 0.949 1.223 81.310 7.767 1,068.40 28.670 11-050.938 0.608 0.696 0.853 0.969 1.234 81.290 7.778 1,078.00 28.640 11-060.932 0.622 0.689 0.841 0.964 1.227 80.640 7.781 1,066.30 28.790 11-070.915 0.614 0.701 0.801 0.951 1.205 77.553 7.793 1,054.42 28.886 11-080.934 0.615 0.694 0.804 0.978 1.203 76.500 7.788 1,063.90 28.990 11-0902 0.937 0.618 0.704 0.786 0.982 1.205 76.790 7.786 1,064.85 29.000 11-0909 0.957 0.630 0.732 0.884 0.997 1.227 77.310 7.793 1,077.10 29.200 CEIC

20 1738 82-3 3 0.07 0.18 2002 1.400 4.023 0.064 2.924 0.647 2003 1.152 4.038 0.061 2.123 0.260 2004 2.564 4.885 0.053 2.153 0.717 8 2005 4.536 4.639 0.066 2.487 1.010 30 20147 2006 5.360 5.320 0.568 3.723 2.103 2007 4.703 5.994 0.895 4.679 2.757 29.9 2008 1.425 2.770 0.833 2.894 0.662 2009 0.251 0.605 0.251 0.655 0.252 102010 0.303 0.758 0.188 0.937 0.170 10-05 0.536 0.711 0.246 0.634 0.108 10-06 0.534 0.730 0.244 0.706 0.112 3 10-07 0.454 0.745 0.241 0.833 0.172 10-08 0.297 0.726 0.232 0.828 0.155 10-09 0.290 0.738 0.216 0.848 0.178 10-10 0.286 0.741 0.197 0.987 0.168 10-11 0.300 0.739 0.188 0.968 0.172 10-12 0.303 0.758 0.188 0.937 0.170 11-01 0.304 0.777 0.189 1.024 0.170 11-02 8 0.311 0.801 0.191 1.046 0.170 11-03 0.303 0.818 0.200 1.180 0.180 11-04 0.273 0.822 0.196 1.339 0.185 2.5% 7 11-05 0.253 0.826 0.196 1.382 0.176 11-06 0.246 0.826 0.195 1.491 0.175 7 11-07 0.256 0.833 0.195 1.557 0.175 10% 11-08 0.327 0.886 0.193 1.484 0.005 11-0902 0.331 0.889 0.193 1.483 0.005 11-0909 0.338 0.905 0.194 1.478 0.007 8 CEIC 49.0 97 1.5% 7 2 4 20111 8 51.1 54.0 55.4 10 50 2,000

1738 21 95 915 Fed 7 8Fed 8 1,400 95 97 1.20 9 2011826 1,788.00 95 1,895.00 97 1,810.00 201199 1,851.00 63.00 2011829 911 BCBS Basel LCR 2015

22 1738 201196 7 98 1.5% 20114 7 2.5% 2% 8 97 0.1% 2011 8 10 9 9 10 201198 9 9 95 9 248.13 2.2% 10,992.13 500 19.74 1.7% 1,154.23 12.34 0.5% 2,467.99

1738 23 2-4 DAX 225 100 20110905 8,784.46 19,616.40 5,102.60 5,246.20 20110906 11,139.30 8,590.57 19,710.50 5,156.80 5,193.97 20110907 11,414.86 8,763.41 20,048.00 5,318.60 5,405.53 20110908 11,295.81 8,793.12 19,912.82 5,340.40 5,408.46 20110909 10,992.13 8,737.66 19,866.63 5,214.60 5,189.93 (1) 11,240.26 8,950.74 20,212.91 5,292.00 5,538.33 (20110902) (2)(+)(-) -248.13-213.08-346.28-77.40-348.40 (3) (%) -2.2-2.4-1.7-1.5-6.3 20119 6 9 10 9 / %/ -77.40/-1.5%/5,214.60 DAX -348.40/-6.3%/5,189.93-173.94 /-5.5%/2,974.59 225-213.08/-2.4%/8,737.66 8ISM 7 448 93 41.4 40.5 Nvidia 2012 47 50 8.1% Bartz 12.5%9 4.0% 13 3.5% 4.0% 500 RBC 4.4% 37 NetLogic Microsystems 61.0% 1.3%

24 1738 2-1 2008/01/022011/09/09 13300 11600 9900 8200 6500 08/01 08/04 08/07 08/10 09/01 09/04 09/07 09/10 10/01 10/04 10/07 10/10 11/01 11/04 11/07 225 2008/01/042011/09/09 15000 13000 11000 9000 7000 08/01 08/04 08/07 08/10 09/01 09/04 09/07 09/10 10/01 10/04 10/07 10/10 11/01 11/04 11/07 2008/01/022011/09/09 30000 25000 20000 15000 10000 08/01 08/04 08/07 08/10 09/01 09/04 09/07 09/10 10/01 10/04 10/07 10/10 11/01 11/04 11/07 100 2008/01/022011/09/09 7000 6100 5200 4300 3400 08/01 08/04 08/07 08/10 09/01 09/04 09/07 09/10 10/01 10/04 10/07 10/10 11/01 11/04 11/07 DAX 2008/01/022011/09/09 8300 7100 5900 4700 3500 08/01 08/04 08/07 08/10 09/01 09/04 09/07 09/10 10/01 10/04 10/07 10/10 11/01 11/04 11/07 DRI Asia Database

1738 25 GDP 1.6% 1.7% 7 0.2% 1%8 51.5 7 2.8% 1.5%7 4% 0.5%8 2.4% 2.3% 7 3.7% 2.1% 7 0.2% 0.2% GDP 0.8% 8 1.5% 20112012 1.4%1.8%0.4%2.2% 9-13.5-15.4 20098-17.7 Moody s 12% 7 9,902 7 42.2% GDP 1.3% 2.1%8 37 14.6% 7.7% 2011914 95 9 17 MSCI 2.4% 424.69 Galaxy Tab 7.7IFA 9 Win 8 8 3.25% 8CPI 5.3%

26 1738-54.82/-2.9%/1,812.93 8CPI 7 4.6% 4.8% 4.7% CPI 5.2% DB 8 4.6% CPI 4.5% +156.77/+4.1%/3,998.50 7 1.3% 0.6% 2.4% 4.9% 1.5% 8.6% 3.6% 7.5%4.6% -4.97/-0.3%/1,469.12 / %/ BSE30 +45.50/+0.3%/16,867.00-17.99/-0.6%/2,825.10-346.28/-1.7%/19,866.63-2.81/-0.3%/1,062.37-46.84/-1.1%/4,346.07 2011914 3. OECD GDP25% aggressive tax planning

1738 27 OECD OECD 2011830 2011 ADB 20116 5.5 20113 2.4% 7.7% 2011 +5.0% +4.3% +3.7% 2.7% 1.6% 2011 4.4% 1.8 6.3% 6 34% 3 22% 10% 6 9.0% ADB Iwan Azis ADB 201191 Robert Zoellick 2011

28 1738 30 10% 1990 30% 4,000 2030 1.6 15 2030 World Bank 201191

1738 29 2012 831 2011 2012 2011 12 201192 4. 829 92 WTI 29 87.39 88.98 2 86.53 Brent 29 111.81

30 1738 4-1 8/299/02 2 9/059/09 1 / % OPEC7 110.16 109.36-0.73 Brent 115.84 114.93-0.79 WTI 88.17 86.22-2.21 Fateh 108.45 107.12-1.23 Petroleum Intelligence Weekly 201199 4-1 2011/01/282011/09/09 130 125 120 115 110 105 100 95 90 85 80 75 70 1/28 2/11 2/25 3/11 3/25 4/8 4/22 5/6 5/20 6/3 6/17 7/1 7/15 7/29 8/12 8/26 9/9 Energy Information AdministrationU.S. Dept. of Energy. http://www.eia.doe.gov/emeu/international/crude1.xls 115.91 114.18 (1) 7 (2) 8ISM 50 (3) 8PMI (4) 8 (5) Lee 48% 95 9 WTI 86.53 89.29 87.28 Brent 111.93 116.85 113.88 (1) (2) EIA 20112012 (3) Stark

1738 31 (4) (5) 959 OPEC Brent WTI Fateh 109.36 114.93 86.22 107.12 829 92-0.73%-0.79%-2.21%-1.23% 4-1 2011913 92 92 Bashar al-assad Total SA Royal Dutch Shell Plc Repsol YPF SA OMV AG 2010 31.6 2010 88% Catherine Ashton8 8 50 9 95% 201192 94 Lee Lee4 94 60.2% 84.3 44.3% 230

32 1738 Bureau of Ocean Energy Management, Regulation and Enforcement 60.3% 54.6% Wall Street Journal201195 2012 Nuri Berruien 2012 Berruien 2012 2013 160 Berruien 10 15 160 2011 125 IEA 112 3 Berruien Berruien Financial Times201196 Ali Tarhouni National Transitional Council Tarhouni 6

1738 33 Tarhouni 1218 160 Tarhouni SarirMisla ShararaFil Wall Street Journal201198 EIA EIA 2010 1.1% 1,901 8 0.3% EIA 2011GDP 1.5% 8 Short-Term Energy Outlook 2.4% 2012 GDP 1.9% 8 2.6% 2011 1,901 0.9%2010 2.2% 2004 2012 1,909 2011 0.3%8 0.9% EIA 2012 107 103 Wall Street Journal 201198 2011 1,000 EIA 2011 8,820 1.6% 137 OECD 0.6% 27 4,585 OECD 4% 164 4,235 9% 83 1,000 2012 8,959 1.6% 139 2012 5.8% 58 OECD 40% 201198 5. 2011905 09 CRB

34 1738 5-1 DJ-AIG CRB DJ-AIG Reuters (1967=100) (1991=100) (9/18/1931=100) Reuters 2008 229.54 117.24 1,746.52 2009 283.38 139.19 2,321.27 2010 323.94 157.86 3,217.53 337.45 201010 300.67 147.27 2,917.90 161.873,070.64 11 301.40 146.73 2,958.93 12 332.80 162.39 3,174.42 829 902 201101 341.42 164.00 3,302.28 02 352.58 166.14 3,257.11 03 368.70 173.88 3,302.05 04 370.56 175.42-0.71%-0.66% -1.61% 5-1 201199 9 2 3,000 540 09/05-09/09 08/29-09/02 (1)(2) 24.25 1.3% 31.0 1.7% 1.10 2.7% 37.0 4.9% 5-3 20119 9 9 2 05 350.06 166.91 3,224.81 06 338.05 158.13 3,139.74 07 342.08 162.81 3,139.93 08 342.57 164.43 3,131.19 20110829 337.12 161.41 0830 340.95 163.43 3,119.08 0831 342.57 164.43 3,131.19 0901 340.65 162.91 3,113.60 0902 338.06 162.51 3,119.78 0905 338.06 162.51 3,079.05 0906 335.22 161.22 3,068.31 0907 339.81 162.27 3,068.69 0908 339.90 162.75 3,066.50 0909 334.24 160.60 (1) 337.45 161.87 3,070.64 (2) 339.87 162.94 3,120.91 % -0.71-0.66-1.61 CRB= DJ-AIG= Reuters= 5-2 LME 2011/08/292011/09/09 11/09/02 11/09/09 130,580 132,220 1,640 4,628,125 4,604,700-23,425 466,075 465,225-850 321,500 320,125-1,375 103,290 99,060-4,230 22,430 22,015-415 854,125 844,875-9,250 (LME)

1738 35 2.8% 2,455.0 2.4% 2,343.0 1.6% 8,904.5 0.4% 21,480.0 0.2% 2,185.5 0.2% 24,095.0 5-3 201199 92 7.2%6.2% 0.4% 5-4 2011913 ICE 9 1 ICE 5 7% 4 4 ECB 2011 9 59 DXY ICE12 KCZ1 14.10 5% 2.70 822 98 3 11 LRCc2 48 2.2% 2,171 ICE 12 CCZ1 38 1.3% 2,873 810 2010/11 30 12 LCCZ1 5 1,856 10 SBc1 0.32 1.1% 29.05 Liffe10 LSUV1 763 2011910 12 Comex 12 46.20 1,813.30 2.5%

36 1738 5-3 / / 05 513.00 8.83 964.0 253.0 2,285.0 4,584.5 1,100.0 13,380.0 6,600.0 1,915.0 06 635.70 12.90 1,117.0 324.0 2,850.0 6,290.0 1,775.0 34,205.0 11,900.0 4,331.0 07 833.75 14.75 1,530.0 364.0 2,350.5 6,676.5 2,532.0 25,805.0 16,380.0 2,290.0 08 869.75 10.79 898.0 183.0 1,455.0 2,902.0 949.0 10,810.0 10,355.0 1,120.5 09 1,104.00 16.99 1,466.0 402.0 2,208.0 7,346.0 2,395.0 18,480.0 16,725.0 2,570.0 10 1,410.25 30.63 1,731.0 791.0 2,461.0 9,739.5 2,587.0 24,960.0 26,945.0 2,432.5 10-07 1,192.97 17.96 1,525.6 455.8 1,988.3 6,735.3 1,837.0 19,517.5 18,191.4 1,843.9 10-08 1,215.81 18.36 1,541.1 489.1 2,118.1 7,284.0 2,075.2 21,413.3 20,754.8 2,044.6 10-09 1,270.98 20.55 1,591.8 539.0 2,162.3 7,709.3 2,184.2 22,643.4 22,701.1 2,151.4 10-10 1,342.02 23.39 1,688.6 591.7 2,346.6 8,292.4 2,379.7 23,807.4 26,342.6 2,367.8 10-11 1,369.89 26.54 1,692.8 682.9 2,333.1 8,469.9 2,376.7 22,909.3 25,519.1 2,291.7 10-12 1,391.01 29.35 1,709.7 755.1 2,350.7 9,147.3 2,412.9 24,111.2 26,163.3 2,280.9 11-01 1,356.40 28.40 1,787.0 793.1 2,439.5 9,555.7 2,601.7 25,646.3 27,465.3 2,371.6 11-02 1,372.73 30.78 1,825.9 821.4 2,508.2 9,867.6 2,586.7 28,252.3 31,526.0 2,465.1 11-03 1,424.01 35.81 1,770.2 762.0 2,552.6 9,530.7 2,624.2 26,811.7 30,739.6 2,349.2 11-04 1,473.81 41.97 1,794.3 771.5 2,662.7 9,483.3 2,741.1 26,328.9 32,460.6 2,372.4 11-05 1,510.44 36.75 1,784.2 736.2 2,592.2 8,927.1 2,420.4 24,210.0 28,733.5 2,160.4 11-06 1,528.66 35.80 1,768.5 770.3 2,555.4 9,045.4 2,512.2 22,354.1 25,576.4 2,230.5 11-07 1,572.81 37.92 1,759.8 788.7 2,512.0 9,619.2 2,682.6 23,731.2 27,312.9 2,390.5 11-08 1,755.81 40.30 1,804.4 763.7 2,392.7 9,041.3 2,404.7 22,083.9 24,418.6 2,211.8 11-09021,875.25 42.50 1,873.0 785.0 2,400.0 9,050.5 2,527.0 21,570.0 24,055.0 2,190.0 11-09091,851.00 41.40 1,842.0 748.0 2,343.0 8,904.5 2,455.0 21,480.0 24,095.0 2,185.5 LBMA LPPM LME 5-4 Metricton lbs lb lb bushel bushel bushel 06 1,599 124.12 11.70 53.87 6.62 4.99 3.76 07 2,035 136.20 10.82 68.01 11.99 8.85 4.56 08 2,665 112.05 11.81 49.02 9.72 6.11 4.07 09 3,289 135.95 26.95 75.60 10.40 5.42 4.15 10 3,035 240.50 32.12 144.81 13.94 7.94 6.29 10-072,995 163.41 17.62 79.99 10.10 5.65 3.76 10-082,871 173.23 19.22 86.66 10.33 6.87 4.10 10-092,725 186.08 23.72 96.62 10.62 7.05 4.83 10-102,814 188.66 26.72 112.79 11.63 6.87 5.46 10-112,784 204.86 28.97 133.27 11.93 6.44 5.28 10-122,965 220.68 31.09 143.63 13.17 7.57 5.86 11-013,086 236.18 32.09 151.72 13.91 8.04 6.35 11-023,448 258.91 31.77 184.94 13.94 8.32 6.90 11-033,372 272.07 28.15 201.25 13.57 7.33 6.81 11-043,108 281.72 25.43 192.86 13.65 7.78 7.53 11-053,051 274.53 21.85 156.55 13.57 7.66 7.22 11-062,977 257.97 26.07 155.73 13.60 6.96 7.21 11-073,112 252.12 29.47 113.58 13.66 6.69 6.84 11-082,979 256.43 28.87 103.85 13.65 7.17 7.13 11-0902 3,092 289.20 29.18 106.59 14.36 7.30 7.50 11-0909 2,868 271.25 29.05 110.30 14.17 7.01 7.26 CBOT NYBOT

1738 37 829 12 Commerzbank ICE 12 2 12 16 Barack Obama Federal Reserve MF Global Tom Pawlicki 1,750 4,470 2011913 USDA2011/12 6.71 7.61 7,500 CBOT 12 25.25 3.5% 7.02 13 7,420 2.42 4,970 1.95 912 1,330 1.54 1,042.2 0.83 Telvent DTN CBOT 12 9 7.45 3 9.25 7.58 9 2011 148.1 8 153 124.97 8 129.14 2011/12 6.72 8 7.14 Informa Economics 2011 127.11 8 133.53 151.0

38 1738 158.0 8 153.0 129.14 30% Informa Economics FNP Sorriso 60 18 10.90 2011 70% CBOT11 SX1 1.75 14.20 USDA 56% 64% MDA EarthSat Weather 97% 99%5 98% 6% 17%5 13% 2011 5 USDA 2011 30.85 8 0.9% 41.8 8 0.4 2011913 6. 2005 2005 HIA 2005 12 3,600 98 1 1 RBC Dominion Securities Adam Cole 1 1.5 35% 5.25% 7,000 7 HIA-II

1738 39 Cole 2005 2005 10% Seeking Alpha201197 97 826 12 5 9.1% 8 8 8 AA8 2011 GDP 0.4%1.0% 7 Channel NewsAsia2011 98 10 2,000

40 1738 2 9% 29 2008 John McCain 2012 Eric Canton tennessean.com201198 98 Jay Carney 9 3,000 4,000 (1) 10.68 6.2% 4.2% 1,200 1,120 (2) 500 99 (3) 1,000 2009 Steve Bell 12 6,400 (4) 300 (5) 35%

1738 41 (6) 1 CNN.com201199 7. Wolfgang Schaeuble 20 G20 Schaeuble 2010 Schaeuble Schaeuble Schaeuble Schaeuble 201196

42 1738 2008 OECD 34 2.5% Centre for European Reform Philip Whyte Fed Ben Bernanke GDP OECD Pier Padoan 2011 Padoan Whyte 18 2 10

1738 43 10 Jean-Claude Trichet Padoan 1.5% 2000 Lisbon Agenda 2020 Europe 2020 Strategy Whyte Whyte 0.5% Padoan 201196 Stoxx Europe 600 5 4.1% 1.42 1 2% Royal Bank of Scotland Silvio Peruzzo

44 1738 2 Peruzzo 2 8 ING Carsten Brzeski 5 5% ECB 7 4,400 ECB 10 5% 5% 1 ECB 500 ECB ECB Trichet IMF 2011 2011 GDP 4.5% Angela Merkel 4 2

1738 45 GDP6%8 5 Royal Bank of Scotland Group 12.3%Deutsche 8.9% Deutsche Josef Ackermann 2008 2008 ECB 3 Lehman Brothers ECB 4 201196 8. 92 2012 3 2011

46 1738 2010 10% 2011 201193 93

1738 47 TPP 201194 94 2011

48 1738 2010 LED 1,100 2011 3 300 10 鉢 94 NHK 1 76 76 201195 9. 2011

1738 49 2011 201197 201164 19-3 96 5,500 1. 2. 3. 4.

50 1738 5. 1. 2. 3. 4. 5. 6. 1. 2.

1738 51 3. 4. 5. 6. 20119 8 2011 1.5 2011

52 1738 2011 115 2010 688.1 9 49.9%2010 5.2% 562.6 110.2 2010 3,172.1 1.5 2010 3,172 2010 1.6% 2010 3,200 2000 2009 2% 30% 98% 70%

1738 53 A2 OECD

54 1738 2011 99 着 6 12 5 1,000

1738 55 2020 20094 300 18 75% 20% 着 100 2010 15 着 濶

56 1738 7 着 201196 CEPA7 12 3 5 CEPA8 13 20 CEPA 2009 CEPA 7 4 20111 CEPA 7

1738 57 3,000 23 2011 4 4 23 23 15 1%2% 1,500 3,000 201198 10. 2013 20112015 23 45% 2013 GDP 2011 35% 2015 30% 1 2012 323 328 4 9 2011 309 4.56.1% 14 19 6 332.6 2012 337 345 2011 314.4 7.29.7% 22 30 202 207 2011

58 1738 187.6 7.710.3% 14 19 20112015 7% 8% 2012 GDP1.01.3% 2013 GDP 3234% 2013 30% 2015 30% 2012 5% 4% 201119.3% 2015 19% 23 3 201191 8 5.3% 4.0% 8 5.3% 3 4 4.4% 20114.0% 2000 5% 200156 2008 69 6 4.0% 20094 4.2% 28 5% 31.8% 13.3% 40.3% 32.2% 34.5% 5.1% 20033 5.3% 3.0%

1738 59 19965 3.0% 15 1.4% 3.4% 3.1% 29.1% 24.3% 15.8% 13.4% 7.1% 2011 4.0% 8 1,000 9 2010 8 2% 9 10 3.6%4.1% 20119 8 LG 8 2011 4.0% 20119 2 2 20101 2012 6 7 108 16 289

60 1738 201192 Robert Zoellick Bert Hofman 70 International Finance Corporation Multilateral Investment Guarantee Agency Zoellick 2009 Urban Hub 2010 Infrastructure Finance Centre of Excellence 201197 92 20032 728

1738 61 201197 201156 2011 7 75% 85% 61% 2011 201198 2011 4.7% 4.46% 2012 3.74% 3.4% 2013 3.23% 3%5% 7 8 4.3% GDP 3.4% 201199 廰 Business Development Department 9 Foreign Business Act Franchise Act Logistics Act Siriwat Kachornprasart 1999

62 1738 廰 Banyong Limprayoonwong 2012 30% 23% 2011 5 20118 5,014 7 5% 2010 12% 201118 4.1 2010 23% 2,394 2010 10% 201118 5,092 2010 29% The Nation201198 廰 Department of Industrial WorksDIW Mr. Arthit Wuthikaro ( Factory Act) Health and Environmental Impact Assessments, EHIAs DIW 36 1 Office of the Council of State DIW 4 factory fees Mr. Arthit Wuthikaro Bangkok Post 201198 AMCHAM 327 80% GTP ETP 55% 100% 75% 70% 65% 60% 60% 2010 63% 35% 2010 40% 35%AMCHAM 2 45% 40%

1738 63 / 60% 15% 73% 2 85% 85% 201196 8 98 8 14 (1) 7.06 4 Methyl Ester SulphonateFatty Alcohol Fatty Ester Tocotrienol Isomers (2) Vasseti Datatech Bhd 4 MedikTV (3) Hannan Corp. 7,260 SelinsingPulau Gula 1.4 (4) DSEM Holdings LED (5) Nova Laboratories Sdn Bhd 1,629 3 (6) Stand Aerospace Malaysia 1.77 8 2020 84 GNI 9,965 131 87 1,712.1 84% 2020 2,285.5 GNI 37.2 201199

64 1738 GDP 26% 70% 20114 2,145 859 1,286 2 63 44 2011 107 2010 60 201195 BKPM2011822 816 Tax Holiday 510 2 50% 5 5 1 12 10% BKPM 2 BKPM BKPM Mr. Gita 2011240 20119 9

1738 65 20112020 829 1488 20112020 2030 2011830 2011829 12 80% 4 201131 01/CT-NHNN 20% 13/2010/TT-NHNN 19/2010/TT-NHNN 20% 滙 2011 14% 17%19% 滙 滙 滙 滙 滙滙 滙 2011 滙 1% :

66 1738 滙 滙 12 2011831 11. 2011 GDP 0.1% 0.2% 0.9% 2.9%2.2% 0.3% 2.4% 1.5% RBC 7 1.2%6 2.2% 1.5% 1.1% 3,800 GDP 4.6% 2011 GDP2% 0.1%0.7% 0.2%0.6% Daniel Bebesy guardian.co.uk201198

1738 67 1. 2. -40-21 -2 17 36 700 1050 1400 1750 2100-5 15 35 55 75 95 1200 1300 1400 1500 1600-40 -20 0 20 40 60 300 480 660 840-1 2 5 8 11 14 10,800 11,100 11,400 11,700 12,000 12,300-30 -10 10 30 50 600 800 1000 1200 1400-10 0 10 20 30 40 2,000 2,200 2,400 2,600 2,800-25 -5 15 35 55 325 375 425 475 525-25 -10 5 20 35 50 2,600 2,750 2,900 3,050 3,200

68 1738 1. 1997 1,241.7 1,149.6 6,783.6 8,767.9 4,209.6 3,387.5 5,136.1 4,465.0 1,361.6 1,446.2 1998 1,126.0 1,052.3 6,704.2 9,186.4 3,879.4 2,804.9 5,472.3 4,744.7 1,323.1 932.8 1999 1,237.3 1,112.0 6,982.2 10,343.9 4,193.5 3,112.4 5,388.7 4,700.0 1,436.9 1,197.5 2000 1,519.5 1,407.3 7,847.8 12,305.7 4,793.0 3,797.3 5,479.8 4,936.0 1,722.7 1,604.8 2001 1,263.1 1,079.7 7,311.9 11,524.7 4,032.4 3,492.0 5,689.1 4,838.7 1,504.4 1,411.0 2002 1,353.2 1,132.4 6,974.4 11,719.3 4,167.3 3,376.0 6,201.1 4,938.7 1,624.7 1,521.3 2003 1,506.0 1,280.1 7,298.2 12,702.3 4,718.2 3,833.0 7,593.5 6,107.9 1,938.2 1,788.3 2004 1,823.7 1,687.6 8,219.9 14,854.9 5,656.7 4,551.9 9,120.3 7,180.6 2,538.4 2,244.6 2005 1,984.3 1,826.2 9,116.9 16,924.2 5,948.6 5,158.1 9,718.0 7,756.1 2,844.2 2,612.4 2006 2,240.2 2,027.0 10,394.1 18,750.9 6,467.3 5,790.4 11,289.1 9,279.1 3,254.6 3,093.8 2007 2,466.8 2,192.5 11,639.6 19,828.4 7,142.1 6,221.4 13,327.1 10,631.1 3,714.9 3,568.5 2008 2,556.3 2,404.5 13,075.0 21,376.1 7,820.5 7,625.9 14,516.1 11,867.5 4,220.1 4,352.7 2009 2,036.7 1,743.7 10,694.9 15,754.0 5,807.2 5,519.6 11,235.3 9,283.2 3,635.3 3,230.8 2010 2,746.0 2,512.4 12,887.0 19,345.6 7,697.7 6,940.5 10,420.7 8,563.5 4,663.8 4,252.1 2010 9224.0 206.2 1,087.6 1,652.3 692.0 600.3 1,175.3 944.5 394.1 350.0 10241.9 212.0 1,125.6 1,649.0 699.0 599.7 1,190.0 991.9 433.4 370.0 11243.7 239.6 1,137.9 1,662.9 659.6 640.5 1,133.4 963.6 412.6 386.7 12238.1 222.3 1,163.2 1,707.1 732.6 646.4 1,092.0 929.5 441.5 400.6 2011 1253.3 234.6 1,195.4 1,811.1 601.6 659.7 1,078.2 939.7 444.8 418.5 2212.3 203.2 1,174.5 1,771.0 677.5 598.6 1,163.0 998.0 384.8 363.3 3272.3 254.8 1,245.6 1,855.6 716.6 693.8 1,394.8 1,128.2 480.5 454.9 4273.1 243.6 1,266.0 1,846.6 618.7 674.8 1,252.0 1,091.2 485.5 441.6 5278.7 266.6 1,252.9 1,906.6 585.8 691.3 1,325.8 1,113.1 474.3 453.1 6251.7 237.9 1,211.9 1,882.1 717.4 709.0 1,276.4 1,092.9 467.6 449.0 7281.2 247.7 1,269.1 1,875.4 728.1 719.3 1,224.3 1,075.4 506.0 442.8 8257.9 231.6 463.8 455.6 IMF IFS 2. 1997 835.0 699.5 2,207.9 775.9 204.1 1998 903.4 817.6 2,159.5 740.2 520.4 1999 1,062.0 715.2 2,880.8 610.4 740.5 2000 1,067.4 676.5 3,616.4 872.9 962.0 2001 1,222.1 686.5 4,019.6 821.5 1,028.2 2002 1,616.6 790.1 4,697.3 891.4 1,214.1 2003 2,066.3 859.4 6,735.3 968.5 1,553.5 2004 2,417.4 868.2 8,445.4 971.7 1,990.7 2005 2,532.9 651.3 8,469.0 1,016.7 2,103.9 2006 2,661.5 659.0 8,953.2 1,116.4 2,389.6 2007 2,703.1 705.7 9,733.7 1,362.4 2,622.2 2008 2,917.1 776.5 10,306.5 1,380.4 2,012.2 2009 3,482.0 1,307.6 10,494.0 1,808.5 2,699.9 2010 3,820.1 1,324.3 10,961.9 2,166.0 2,915.7 2010 9 3,805.1 1,331.0 11,095.9 2,057.5 2,897.8 10 3,838.4 1,353.9 11,181.2 2,085.2 2,933.5 11 3,792.6 1,302.8 11,010.3 2,116.5 2,902.3 12 3,820.1 1,324.3 10,961.9 2,166.0 2,915.7 2011 1 3,871.1 1,339.4 10,929.8 2,089.8 2,959.6 2 3,906.9 1,346.6 10,914.9 2,171.4 2,976.7 3 3,926.3 1,393.2 11,160.3 2,212.3 2,986.2 4 3,995.4 1,429.9 11,355.5 2,338.1 3,072.0 5 3,986.8 1,431.3 11,395.2 2,342.7 3,050.8 6 4,003.3 1,438.4 11,378.1 2,308.8 3,044.8 7 4,007.7 1,458.8 11,508.8 2,433.3 3,110.3 8 4,002.9 1,509.7 12,185.0 2,668.7 3,121.9 IMF IFS