Thai economy surges: growth in all sectors

[Baerboxer]

3 hours ago, Samui Bodoh said:

Thanks Mr C! I saw that article a few days ago and it is interesting reading.

 

My question is a bit different and I think the problem is more that I am not sure how to ask it properly. Let me have another go.

 

The level of spending under the Junta seems never-ending and always rising; new projects are announced again and again and again. I wonder how Thailand can afford the sheer number of government-funded projects that are currently underway? When I think back to previous times in country, I don't recall this same level of frenzied activity. So, are these projects affordable? Are they going to contribute to the economic future of Thailand? Why is the Junta able to have so many projects when previous governments could not? Taking into account the Thai Niyom project, the increase in military spending, the increase(s) given to bureaucrats, the increase in rail, the cost of the submarines, etc etc etc... 

Where is all this money coming from? How come previous governments could not spend at the same level? And as in my previous post, is it sustainable or are the Junta spending with reckless abandon? I am still waiting for a good answer.

 

Further, I still don't seem to have an answer to the second part; perhaps it is too difficult a question.

 

Who is getting all this money? On my island, I see local shops and restaurants closing while I read that (non-Samui owned) hotels are doing well. I read in the papers that the economy is doing well, but that rural incomes are going down. I see consumer confidence figures are either stagnant or falling, yet the government claims that the economy is rapidly improving.

 

Something here does not add up. 

 

Is Thailand doing well? Or is it simply the already rich getting richer (more than usual)?

 

3 hours ago, Samui Bodoh said:

 

 

 

""When I think back to previous times in country, I don't recall this same level of frenzied activity. So, are these projects affordable? Are they going to contribute to the economic future of Thailand? Why is the Junta able to have so many projects when previous governments could not?"

 

Did you forget about PTP's plan to borrow 2.2 trillion baht which they wanted to spend off budget and outside of parliament's scrutiny?

 

Had Mr. White Lies and the gang got their hands on 2.2 trillion baht to spend, don't you think that might have caused a frenzy?

[Baerboxer]

7 minutes ago, Eric Loh said:

Taxing to compute when there are more and longer tenure of military government over elected. Only one last the full tenure enough to made judgement. Those were good years. 

 

Good years - and who benefited the most?

[Baerboxer]

7 minutes ago, Eric Loh said:

Taxing to compute when there are more and longer tenure of military government over elected. Only one last the full tenure enough to made judgement. Those were good years. 

 

Good years - and who benefited the most?

[Baerboxer]

7 minutes ago, Eric Loh said:

Taxing to compute when there are more and longer tenure of military government over elected. Only one last the full tenure enough to made judgement. Those were good years. 

 

Good years - and who benefited the most?

[Baerboxer]

7 minutes ago, Eric Loh said:

Taxing to compute when there are more and longer tenure of military government over elected. Only one last the full tenure enough to made judgement. Those were good years. 

 

Good years - and who benefited the most?

[simoh1490]

29 minutes ago, Eric Loh said:

Previous government suggest to start a SWF with the country reserve. IMF also make that suggestion to Somkid recently. 

Suggested and rejected, again again and again! But actually, even if a SWF was accepted it still wouldn't make the funds available to the military government, which was the point of this exchange in the first place.

Edited May 21, 2018 by simoh1490

[Eric Loh]

1 minute ago, Baerboxer said:

 

Good years - and who benefited the most?

Obviously the people who voted him back with a majority. 

[soalbundy]

8 hours ago, KiwiKiwi said:

 

It would be for me too. If I believed a word of it.

 

Thais lie cheat and steal, and Thai government officials think the armed forces shouldn't be the only ones with pretty uniforms and campaign ribbons. Prayuth is known to be a liar and is interested only in perpetuating his own hegemony. Therefore he will tell or cause to be told, whatever lies are necessary to fool the proles - largely uneducated Thais with a smattering of gullible visa-dependent foreigners who are mostly here for the cheap beer and sex.

 

Call me a cynic but I don't believe one word of it.

Thailand is economically in good shape FX reserves are good the Baht is strong so yes I believe them, Thailand is regarded as a bright spot in EM by economists.

[Eric Loh]

2 minutes ago, soalbundy said:

Thailand is economically in good shape FX reserves are good the Baht is strong so yes I believe them, Thailand is regarded as a bright spot in EM by economists.

You think the farmers, fishermen and the street vendors care about the FC reserves and the strong Baht. They seem displease with the economy and they are the majority of the population. 

[KiwiKiwi]

13 minutes ago, soalbundy said:

Thailand is economically in good shape FX reserves are good the Baht is strong so yes I believe them, Thailand is regarded as a bright spot in EM by economists.

Don't care what others believe. I don't believe a word of it. Not word one. The whole flurry of positive economic indicators in the past few days suggests a most convenient timing and ought to be suspect for that reason alone.

 

You know as well as I do that if you put 10 economists in a room, you'll get 15 opinions. There are without a doubt economists who think as I do, that Thailand is a cesspit waiting to fall in on itself, and I promise you, I am arranging my finances based on that prediction.

Edited May 21, 2018 by KiwiKiwi

[Bangkokhatter]

I have to wonder if the many doom and gloom merchants commenting actually work in Industry here.

 

I work for a multi national that does Business with all sectors of Thai Industry and after a couple of tough years the tide is turning and Business is picking up considerably, so although i am loathe to believe any Government statistics the signs are there that the economy is on an upturn.

[soalbundy]

9 hours ago, Eric Loh said:

You think the farmers, fishermen and the street vendors care about the FC reserves and the strong Baht. They seem displease with the economy and they are the majority of the population. 

Pleased or not pleased has nothing to do with increased exports

[Cadbury]

13 hours ago, simoh1490 said:

Yes, that's a very good article, thanks for posting it. I don't know how to feel about the comparison with other countries in ASEAN, I'm not convinced that's at all relevant since Thailand has performed consistently well over many years whereas some other ASEAN countries are something of a Jonnie come lately in many respects.

Fair comment about a some of the other ASEAN member's economies. Some look to be well embedded while a few seem like fragile upstarts. I feel that Thailand's economy, while progressing steadily, is still on wobbly ground because of the possible variables of junta rule. The interesting question is ....is Thailand's growth due to strong economic decisions and good management by the generals or is it more by good fortune and a fair wind.....so far?

I still have a gut feeling that a big huff and a puff of political unrest could blow it over and have a serious impact on  the present growth trend. 

[Eric Loh]

2 hours ago, soalbundy said:

Pleased or not pleased has nothing to do with increased exports

Even when Thailand is the world's largest exporter of several agriculture products such as rice, shrimps, rubber etc? Someone got rich but little for the people who still on 305 B minimum wage as dictated by the government. 

[soalbundy]

4 hours ago, Eric Loh said:

Even when Thailand is the world's largest exporter of several agriculture products such as rice, shrimps, rubber etc? Someone got rich but little for the people who still on 305 B minimum wage as dictated by the government. 

makes the product cheaper and increases exports perhaps. Social fairness has nothing to do with the announcement that exports have reached record levels.

[Eric Loh]

50 minutes ago, soalbundy said:

makes the product cheaper and increases exports perhaps. Social fairness has nothing to do with the announcement that exports have reached record levels.

Lets meet in the middle and say that exports reached record level because of cheap labour aka social unfairness. 

[bkk6060]

5 hours ago, Eric Loh said:

Even when Thailand is the world's largest exporter of several agriculture products such as rice, shrimps, rubber etc? Someone got rich but little for the people who still on 305 B minimum wage as dictated by the government. 

Sure and it is interesting that people come here from all the surrounding countries to make that wage.

[bkk6060]

The geographical diversity of Thailand is pretty amazing.

The country kind of reminds me of a lazy talented natural athlete, who never reaches their potential.

I think that if Thailand did have proper management of funds smartly dispersed and get the environmental issues straightened out, and some other problems, it could be the greatest country in Asia. 

I know it is asking a lot and will mostly not happen.

I still love it here, just has the potential to be much better.

Edited May 22, 2018 by bkk6060