Asian Insider, Oct 21: Beijing’s experimental vaccines; Indonesia to launch sovereign wealth fund

Asian Insider brings you insights into a fast-changing region from our network of correspondents and commentators.

Hi all,

In today's bulletin: China defends use of experimental vaccines; floods kill 111 in Vietnam; Japan and Indonesia seek to boost ties; Indonesia to create sovereign wealth fund; the royal avenue at the centre of Thai protests, and more.

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CHINA DEFENDS GIVING EXPERIMENTAL COVID-19 VACCINES

China has defended the use of experimental vaccines against Covid-19 with officials maintaining the country still faces "enormous pressure" from imported cases.

The country has authorised the emergency use of three vaccines developed by local firms China National Biotec Group Co. and Sinovac Biotech Ltd. to frontline workers, including medical staff treating virus patients, and to border officials.

But that has since been widened to include employees of state-owned companies, and the government is also considering offering experimental jabs to students heading overseas to study.

More on this topic:

Beijing in Covid-19 vaccine race to restore international image by China Correspondent Danson Cheong

Who's getting vaccinated in China?

FLOODS KILL 111 IN CENTRAL VIETNAM

Vietnam was bracing for another storm this weekend even as severe flooding and landslides left more than 100 people dead and 20 others missing.

Nearly 180,000 homes lie submerged in flood waters, according to the International Federation of Red Cross and Red Crescent Societies, which said thousands would need housing and income support.

More than 200,000 have been evacuated from the affected areas.

JAPAN, INDONESIA AGREE ON BOOSTING TIES

Japanese premier Yoshihide Suga met with Indonesian President Joko Widodo in Jakarta and both countries agreed to strengthen security ties, through such measures as expediting talks on the export of Japanese defence technology and by having their defence and foreign ministers meet soon.

His visit to Indonesia follows that to Vietnam. It comes amid mounting concern over China's growing regional assertiveness.

ST Japan Correspondent Walter Sim writes that a key priority for Mr Suga is to cement Asean's backing for Japan's Free and Open Indo-Pacific vision.

Also read:

On Yoshihide Suga's overseas debut, Japan, Vietnam agree broadly on defence transfer

INDONESIA TO LAUNCH SOVEREIGN WEALTH FUND

Indonesia is set to launch its own sovereign wealth fund in January next year as the government seeks to attract more investment and support the economy amid the coronavirus pandemic, the Jakarta Post said.

The establishment of the sovereign wealth fund, which will be called the Indonesia Investment Authority, was included in the controversial Job Creation Law.

The government is preparing 75 trillion rupiah (S$6.9 billion) in capital for the nation's sovereign wealth fund. The United States and the United Arab Emirates have expressed interest to join, the report said.

THE ROYAL AVENUE AT THE CENTRE OF THAILAND'S BREWING CONFLICT

Every day in Bangkok, defiant young protesters take to the streets. Some of them have insulted the King publicly while fourteen-year-old schoolgirls have demanded Prime Minister Chan-o-cha's resignation. At the centre of this brewing conflict is Ratchadamnoen.

Inspired by European boulevards like Champ Elysees in Paris, the "Way of Kings", as it is called in Thai, was commissioned by King Chulalongkorn in 1899 to link the ancient Grand Palace with the newer Dusit Palace over 3km away. It was meant to be a signal of Siamese modernity, directed at potential colonisers.

But now Ratchadamnoen Avenue has become the most important avenue in Thai politics. Read Indochina Bureau Chief Tan Hui Yee's report for more.

Also read:

Thai PM Prayut says preparing to lift emergency measures in Bangkok

IN OTHER NEWS

WHY MODI REMAINS POPULAR: Despite an economic slowdown and a surge in coronavirus infections, Prime Minister Narendra Modi appears to remain as popular as ever. Opinion polls in Bihar, where he faces his first major electoral test since the pandemic next month, show his coalition comfortably retaining control of the state government. A separate India Today, Mood of the Nation, poll in August said 78 per cent rated his performance as "good to outstanding" compared with 71 per cent last year.

UMNO CALLS FOR POLITICAL CEASEFIRE: The biggest party in Malaysia's Perikatan Nasional (PN) ruling coalition - Umno - has called for a political ceasefire just about a week after it threatened to withdraw its support for Prime Minister Muhyiddin Yassin's administration, as the country wrestles with the rising number of coronavirus cases. Malaysia Correspondent Ram Anand says Umno would now fully back Tan Sri Muhyiddin's government.

That's it for today. Thanks for reading the Asian Insider newsletter and The Straits Times. We'll be back with you tomorrow.

Shefali

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