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Finance Issues Strike In Southeast Asia As They Try To Solve Their Transportation Infrastructure Issues

By Buzzfeed News at 12:00 PM 5/30/2020 (PDT)

Countries in Southeast Asia are in dire need of modern transportation, but they are faced with the issue of funding.

The countries in Southeast Asia have low GDPs that don’t allow them to spend large amounts of their money on an issue like transportation. It is understandable that these countries would quickly realize that they cannot accomplish much unless they have the monetary support. The Philippines immediately questioned how funding for a likely multifaceted solution would work. China brought up many possible options for funding like working with ASEAN Plus Three, non-governmental organization (NGOs), and funding from the United Nations. Vietnam agreed with the ideas of China and presented the idea of procuring some funding from Western nations which are much more developed and have higher GDPs. They believe that the West would be interested in funding Southeast Asia as it would benefit them in the long run. She summarized her speech by saying that with all the help of these funding options, the committee “would meet our goals for funding”.

Indonesia brought up a different source of funding. They added that Singapore could help, as they already have a well-developed and efficient transportation system. It is undetermined whether Singapore is interested in giving this type of aid to the other countries of ASEAN. Thailand suggested another non traditional funding method, which was increasing the cost of parking fees to obtain money for the infrastructure they would like to build. Thailand also stated that this would reduce the number of cars on the road, which is a positive aspect, since traffic can be heavy in these underdeveloped countries. Lastly, Malaysia pointed out solutions that they were not in favor of. These solutions included taking out large loans from other countries and printing money. Malaysia deemed these two options poor choices because of how harmful they can be to the economy in the long run.

No one is sure about when this funding issue will be resolved, but the countries of ASEAN hope is soon.

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