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with the Emergent Organization; in the previous month. An increase in spending has only
(7) Strengthening cooperation, mobilizing international been recorded twice in the past 12 months and this trend is
resources and the private sector. a signal to the Bank of Japan to take a cautious approach
to interest rate hikes.

For localities the Director of the Forestry Department
proposed proactively mobilising and integrating legal resources Furniture retailer success in Southeast Asia
to reduce emissions and increase forestry absorption in the One of Japan’s largest furniture retailers has been doing
province while calling for the active participation of relevant well with sales at its outlets in the Philippines and this is
parties to promote the sustainable development of the forest encouraging the company to widen investment in retail stores
carbon market. in other markets.
"The cooperation and commitment of all relevant parties The furniture chain, which has outlets around Japan,
will be the decisive factor for the success of the forestry started its first store in the Philippines earlier this year as it
sector in the new context," Bao said. drives for growth beyond its domestic business where retail

growth has slowed.
JAPAN
Rising raw material costs driving inflation CHINA
Wholesale inflation accelerated in October as renewed yen Vietnam launches anti-dumping probe on Chinese
weakness drove up import costs. Bank of Japan data showed fibreboard
the corporate goods price index (CGPI), which measures the In September the Ministry of Industry and Trade in Vietnam
price that companies charge each other for goods and services, issued Notice (No. 2549/QD-BCT) stating that, in response

rose 3.4 percent in October from a year earlier, above market to the application submitted by five Vietnamese producers,
forecasts for a three percent rise. an anti-dumping probe was initiated on wood fibreboard
An increase in the price of rice, coupled with the increasing originating in China and Thailand.
cost of nonferrous metals, food and oil, pushed up overall The Vietnamese tax codes of the products involved are
wholesale inflation, a sign companies remained under pressure 4411.12.00, 4411.13.00, 4411.14.00, 4411.92.00, 4411.93.00
from rising raw material costs. and 4411.94.00.
The Bank of Japan has signaled readiness to raise interest The Vietnam Wood Composite Panel Manufacturers Union
rates further if inflation becomes driven more by robust
www.remarkablefurniture.com.au
domestic demand and higher wages, rather than rising raw
material costs.

Households cut spending again as prices rise
According to a report from the Ministry of Internal Affairs
and Communications households in Japan cut spending
for a second month as rising prices continue to deter
consumption.

Spending by households dropped 1.1 percent from a
year earlier in September after dropping almost two percent