PM happy with better economic conditions in Thailand

[stud858]

I won't comment on how it is for Thai people.  But my own situation has downgraded regarding visa, ESL teaching, and infrastructure issues such as roads and cleanliness of environment.

 

[Small Joke]

Wow yes,  not one,  but THREE McLarens in the country. 

A deputy PM with more Swiss wrist bling than the entire City of Geneva

Life is no bother at all for some people, Boss! 

 

[candide]

6 hours ago, marcusarelus said:

Sure

It may look different depending on the time period considered. ?

I am not sure, but the amounts may not be deflated too.

[greenchair]

There might be a mistranslation. 

He means to say, he's happy with his own better economic conditions.

 

[jouec]

8 hours ago, thaiguzzi said:

Exactly!

What planet is Prayut on?

What drugs is he on?

 

He drinks the elixir made from his sycophants' bile. One has to remember he is shrouded by yes men/women. Everything he says is acknowledged with a yes or a wai, together with a fake smile synonymous with Thai people. Every 'joke' he makes has them in raptures. Watch any clip and you can see a selection of his lap dogs in the background, pathetic weasels the lot of them.

Over time a person can believe their own hype,  and reach a level of self importance that is hard to comprehend.

[rodney earl]

Does he actually believe what he says?

[marcusarelus]

8 hours ago, Small Joke said:

As the old quote goes... There's lies,  damned lies, and statistics. 

 

Society and the economy would not work without the statistics , so the statistics are highly demanded.

 Lies, damned lies and Statistics “ is a phrase attributed by Marck Twain to Benjamin Disraeli; though it is not certain.

You might be tempted to conclude that extracting meaning from data is a hopelessly difficult task. It’s difficult, but it’s not hopeless. The only alternative to facts is intuition, which is not only flawed but also, according to psychologists, more flawed than we think it is. Far better to base policy on imperfect analyses than on the fact-free bloviating of the ideologues, charlatans and political hucksters who would take their place.

[marcusarelus]

11 minutes ago, rodney earl said:

Does he actually believe what he says?

Not only him but the world bank and most economic experts worldwide.  Thailand’s economy is expected to grow by 4.1 percent in 2018, the fastest pace since 2012, says the latest edition of the World Bank’s Thailand Economic Monitor.   Thailand’s economic recovery is broadening in 2018.  While rapid export growth continues fueling the economy, an increase in capacity utilization and acceleration in capital goods imports suggest a nascent domestic demand recovery as well. Regulatory reforms and overall policy stability are contributing to continuing improvements in business sentiment.

 

http://www.worldbank.org/en/news/press-release/2018/04/09/thailand-expected-to-post-41-growth-in-2018-best-economic-performance-since-2012

 

Thai Q1 GDP grows at fastest pace in five years

https://www.straitstimes.com/business/economy/thai-q1-gdp-grows-at-fastest-pace-in-five-years

 

Edited August 14, 2018 by marcusarelus

[thaiguzzi]

3 hours ago, jouec said:

He drinks the elixir made from his sycophants' bile. One has to remember he is shrouded by yes men/women. Everything he says is acknowledged with a yes or a wai, together with a fake smile synonymous with Thai people. Every 'joke' he makes has them in raptures. Watch any clip and you can see a selection of his lap dogs in the background, pathetic weasels the lot of them.

Over time a person can believe their own hype,  and reach a level of self importance that is hard to comprehend.

Very well written.

Post of the thread, in fact best post about Prayut I have read.

?

[marcusarelus]

6 minutes ago, thaiguzzi said:

Very well written.

Post of the thread, in fact best post about Prayut I have read.

?

However nothing to do with the topic.  Thailand's economic condition is in great shape according to any reputable measuring tool.  The currency is strong and unemployment is low. 

[Chassa]

Anybody can run a successfully economic country with a grossly underpaid labour force!

[Eric Loh]

Can't help thinking that if a military man with all the laws at his disposal, without any oversight by the NLA or any other related agencies and do not listen nor accept other opinions can produce a fairly decent growth, what might be if this is an elected government. Thailand actually lose out a good 4+ years of higher GDP, revenue and FDI because of this coup and junta government. He will be happy no doubt for helping the rich and the connected get richer but a big disservice to most people. 

[marcusarelus]

2 hours ago, Chassa said:

Anybody can run a successfully economic country with a grossly underpaid labour force!

Are you sure about that? 

 

 

[marcusarelus]

2 hours ago, Eric Loh said:

Can't help thinking that if a military man with all the laws at his disposal, without any oversight by the NLA or any other related agencies and do not listen nor accept other opinions can produce a fairly decent growth, what might be if this is an elected government. Thailand actually lose out a good 4+ years of higher GDP, revenue and FDI because of this coup and junta government. He will be happy no doubt for helping the rich and the connected get richer but a big disservice to most people. 

Everybody has a job that wants one and is willing to relocate to parts of Thailand where the jobs are available.  Wages are constant and inflation is low. 

[candide]

4 hours ago, marcusarelus said:

Not only him but the world bank and most economic experts worldwide.  Thailand’s economy is expected to grow by 4.1 percent in 2018, the fastest pace since 2012, says the latest edition of the World Bank’s Thailand Economic Monitor.   Thailand’s economic recovery is broadening in 2018.  While rapid export growth continues fueling the economy, an increase in capacity utilization and acceleration in capital goods imports suggest a nascent domestic demand recovery as well. Regulatory reforms and overall policy stability are contributing to continuing improvements in business sentiment.

 

http://www.worldbank.org/en/news/press-release/2018/04/09/thailand-expected-to-post-41-growth-in-2018-best-economic-performance-since-2012

 

Thai Q1 GDP grows at fastest pace in five years

https://www.straitstimes.com/business/economy/thai-q1-gdp-grows-at-fastest-pace-in-five-years

 

Again, a perspective over a longer period provides a more comprehensive view. Thailand is catching-up only slowly the high GDP growth of comparable countries and still not fully (6.6% for developing Asia according to the IMF). The GDP growth lost during previous years is simply lost. It probably explains why people don't seem to feel the current growth, as they are still feeling the effect from previous years.

[marcusarelus]

6 hours ago, candide said:

Again, a perspective over a longer period provides a more comprehensive view. Thailand is catching-up only slowly the high GDP growth of comparable countries and still not fully (6.6% for developing Asia according to the IMF). The GDP growth lost during previous years is simply lost. It probably explains why people don't seem to feel the current growth, as they are still feeling the effect from previous years.

Not everyone is sucker. Some actually look at the whole chart. Now tell me what you see.  https://tradingeconomics.com/thailand/gdp-growth-annual

[candide]

28 minutes ago, marcusarelus said:

Not everyone is sucker. Some actually look at the whole chart. Now tell me what you see.  https://tradingeconomics.com/thailand/gdp-growth-annual

Higher GDP growth on average before the junta (2014) than after? I am too lazy to smooth the data but it looks like it. Or do you consider that the around 4% of GDP growth lost in 2014 is not attributable to the coup?

Edited August 14, 2018 by candide

[marcusarelus]

1 hour ago, candide said:

Higher GDP growth on average before the junta (2014) than after? I am too lazy to smooth the data but it looks like it. Or do you consider that the around 4% of GDP growth lost in 2014 is not attributable to the coup?

Thailand's gross domestic product grew by 4.8 percent year-on-year in the first quarter of 2018, following a 4 percent expansion in the previous period and beating market consensus of 4 percent. It was the strongest growth since the first quarter 2013, as government spending, investment, and private consumption rose at faster paces. GDP Annual Growth Rate in Thailand averaged 3.72 percent from 1994 until 2018, reaching an all time high of 15.50 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998.

[candide]

12 minutes ago, marcusarelus said:

Thailand's gross domestic product grew by 4.8 percent year-on-year in the first quarter of 2018, following a 4 percent expansion in the previous period and beating market consensus of 4 percent. It was the strongest growth since the first quarter 2013, as government spending, investment, and private consumption rose at faster paces. GDP Annual Growth Rate in Thailand averaged 3.72 percent from 1994 until 2018, reaching an all time high of 15.50 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998.

1 hour ago, marcusarelus said:

 

 

I don't deny the recent improvement. The issue is why people don't seem to feel this improvement and complain about the economic situation (I am not talking about TVF members, but about what regularly surfaces in all published surveys).

 

The explanation I propose is that people still feel the burden of previous low GDP growth. If you average the growth rate during the previous elected government (2012 and 2013), it is 4.9 %. Between 2014 and 2017, it's 2.8% (about half of thatvof the developping Asia category). I prefer to use annual figures, rather than quarter figures that are difficult to grasp.

https://www.statista.com/statistics/332051/gross-domestic-product-gdp-growth-rate-in-thailand/

 

Another possible explanation is that the shadow economy, which is said to weight around 40% of the Thai economy, may not be accurately captured by official GDP calculations and may not follow exactly the same trend.