Asean Must Keep Joining Global Supply Chains, Thai Minister Says
Southeast Asian nations should look at ways to further integrate their supply chains regionally and around the world to reap the benefits of economies of scale and gain access to larger markets, Thailand's foreign minister said.
Some countries in the region are already working together to produce more complex goods such as semiconductors, and Asean officials do see the potential that comes from being part of the global supply chain, Maris Sangiampongsa said in an interview in Kuala Lumpur with Bloomberg TV's Avril Hong.
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Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. More Americans are tapping into their 401(k) to make ends meet — treating it more like an emergency fund than a retirement savings plan. Hardship withdrawals are running 15% to 20% above the historical norm, according to Empower CEO Ed Murphy. Empower is the second-largest retirement plan by participants in the U.S. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? 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While there are a few 'signals of a possible uptick in financial stress,' the report says that for some workers, hardship withdrawals 'may serve as a safety net that otherwise may not have been available without plan-implemented automatic solutions.' Add to that the possibility of heading into a recession, with consumer confidence plummeting and more Americans may find themselves struggling to pay the bills. 'We encourage people to have an emergency savings account, have at least two years of expenses set aside in the event these types of situations occur,' Murphy told Bloomberg TV. Read more: Rich, young Americans are ditching the stormy stock market — Even the IRS is prepared for an increase in hardship withdrawals, stating on its website that 'given the current economic climate, a greater number of participants may be requesting hardship distributions from their retirement plans.' Hardship withdrawals typically come with steep penalties. 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