Party leaders promise economic reform

By The Nation

 

 

A number of key politicians have committed to moves for fair income redistribution but say they remain unconvinced that an election will be held in February next year as previously promised by the government.

 

Speaking at the Thailand Focus 2018 conference, Political Road Map: the Election Ahead, hosted by the Stock Exchange of Thailand, Abhisit Vejjajiva, leader of the Democrat Party said that a paradigm shift is needed in economic management. 

 

The Democrat Party committed to achieving income equality by promoting decentralisation and relaxing regulations, also promising to promote participation in policy and decision making.

 

Chaturon Chaisang, a leading member of the Pheu Thai Party, said economic policy should meet the people’s needs. 

 

He said the Pheu Thai Party would create opportunities for business and more accessible financial services. Chaturon argued that Thailand has paid a very high cost for stability under the current dictatorial regime with trade and investment damaged and the public denied any input into decision making.

 

Anutin Charnvirakul, leader of the Phumjaithai Party, said while gross domestic product had increased by 4.8 per cent, the majority of people do not feel positive about economic growth because inequality is high. 

 

He added that the government must prioritise projects that meet people's demands across the country. Projects like the Eastern Economic Corridor is likely to concentrate development in a few provinces and it could be postponed, he said. 

 

Anutin said he expected another election delay, telling  global fund managers attending the Thailand Focus that the election is more likely to be held in the second half of 2019. 

 

Abhisit shared his views, adding that the country is unlikely to see an election on February 24. He also warned that election postponement could lead to national instability due to economic discontent.

 

Source: http://www.nationmultimedia.com/detail/business/30353388

 

-- © Copyright The Nation 2018-08-31

Noticed the absence of Khun Thanathorn Juangroongruangkit and the increasing popular Future Forward Party.

....or have they been stricken from officialdom?

 

The real populist threat.

Yada Yada Yada....

 

Promises, Promises; but if and when they get elected it will be business as usual, looking after the Billionaire's and to hell with the rest !

4 hours ago, webfact said:

Party leaders promise economic reform

In Thailand politics it seems "promises" is euphemism for lies. The junta government and it's ministers have made an art form out of making and breaking promises and lying through their teeth.

How can we forget these classics:

Toad speak.............."I borrowed these watches from an old friend who has since died".

Pinocchio speak......"In November 2018 there will be an election. Is that clear?“

 

For the record, none of elected governments since 2001 has done worse economically then non elected post coup governments. That include periods of instigated civil unrest. 

49 minutes ago, Eric Loh said:

For the record, none of elected governments since 2001 has done worse economically then non elected post coup governments. That include periods of instigated civil unrest. 

Please back that up, because it all depends how you measure the economy. I can remember how YL did not get the gross domestic product up at all the junta did a lot better. So it all depends how you measure it and what you use to measure it. 

 

So a little more explanation backed up with some facts would do nicely.  Gross domestic product wise junta won hands on from YL. (not saying that its the all defining tool to measure it just like to know what you use to measure it and see your source)

How long have they already been in total charge again?

1 hour ago, robblok said:

Please back that up, because it all depends how you measure the economy.

Absolutely right. For example:

 

Without doing the linear regression math but estimating, here is my depiction of GDP change from Yingluck through Prayut using the GDP chart from  https://tradingeconomics.com/thailand/gdp

Black denotes Yingluck "actual: trend; green denotes Prayut "actual trend"; and blue denotes what I'd say would be the "projected trend" by a Yingluck-like regime in a minimum worst-case scenario without any government shutdowns by the PDRC and the military.

While Prayut has after fours years achieved a GDP higher than 2013, the average annual GDP change is only a nominal 0.3% per annum. Yingluck or a Yingluck-like regime would likely have exceeded such low performance if left unhindered in its economic policies.

 

Edited August 31, 20187 yr by Srikcir
chart added

3 minutes ago, Srikcir said:

Absolutely right. For example:

 

Without doing the linear regression math but estimating, here is my depiction of GDP change from Yingluck through Prayut using the GDP chart from  https://tradingeconomics.com/thailand/gdp

Black denotes Yingluck "actual: trend; green denotes Prayut "actual trend"; and blue denotes what I'd say would be the "projected trend" by a Yingluck-like regime in a minimum worst-case scenario without any government shutdowns by the PDRC and the military.

While Prayut has after fours years achieved a GDP higher than 2013, the average annual GDP change is only a nominal 0.3% per annum. Yingluck or a Yingluck-like regime would likely have exceeded such low performance if left unhindered in its economic policies.

So junta was doing better.. and you can't compare YL without her problems because they were of her own making same as we can't project the junta without bans of foreign trade because its of their own making too. You have to compare what happened not what could have been. 

 

I am still waiting how Eric has come to his post. Like i said its possible it all depends what you measure. 

 

P.s this is not about supporting the junta but about facts and numbers. 

1 hour ago, robblok said:

So junta was doing better.. and you can't compare YL without her problems because they were of her own making same as we can't project the junta without bans of foreign trade because its of their own making too. You have to compare what happened not what could have been. 

 

I am still waiting how Eric has come to his post. Like i said its possible it all depends what you measure. 

 

P.s this is not about supporting the junta but about facts and numbers. 

There is little point in trying to make sense of the facts and numbers of the Thai economy.

Thailand has two economies. One is the BLACK economy and ranks as one of the highest in the world and those who know estimate it to be close to 41% of the total economy leaving a WHITE economy of 59% which are the figures from which the official statistics are derived. 

The black economy is primarily the cash economy which does not go on record anywhere and can originate from such places the sex industry which is huge, the corruption industry which is massive, food barrows, markets selling blackmarket goods and all the other cash transaction places and crooked wheelings and dealings such as those shonky e-waste recycling outfits.

So how can anyone accurately gauge the true economic growth or decline of the two economies combined when they don't necessarily run in tandem.

How can anyone know if the corruption industry is in growth or decline (and by what percentage) under the junta rule as compared to Yingluck or the grand master himself Thaksin?

If you choose to waste time trying to analyse the numbers the government publish then go for it and good luck.

This story is a little dated but I am sure nothing has changed.

http://investvine.com/thailands-shadow-economy-among-biggest-globally/

 

 

Edited August 31, 20187 yr by Cadbury

10 minutes ago, Cadbury said:

There is little point in trying to make sense of the facts and numbers of the Thai economy.

Thailand has two economies. One is the BLACK economy and ranks as one of the highest in the world and those who know estimate it to be close to 41% of the total economy leaving a WHITE economy of 59% which are the figures from which the official statistics are derived. 

The black economy is primarily the cash economy which does not go on record anywhere and can originate from such places the sex industry which is huge, the corruption industry which is massive, food barrows, markets selling blackmarket goods and all the other cash transaction places and crooked wheelings and dealings such as those shonky e-waste recycling outfits.

So how can anyone accurately gauge the true economic growth or decline of the two economies combined when they don't necessarily run in tandem.

How can anyone know if the corruption industry is in growth or decline (and by what percentage) under the junta rule as compared to Yingluck or the grand master himself Thaksin?

If you choose to waste time trying to analyse the numbers the government publish then go for it and good luck.

This story is a little dated but I am sure nothing has changed.

http://investvine.com/thailands-shadow-economy-among-biggest-globally/

 

 

That might be so, not disputing it.. I was disputing the claims brought forward by an other member. I am not saying I know it for a fact because like you said there is a black and there is a white economy. Even if there was no big black economy it would still depend on what stats are used.

 

But when someone states that all Democratic governments had a better economic performance while the normal stats don't show that. I just disagree because that is not what the stats show. So unless he has some other stats to back his claim up its pointless. In a way it is pointless even when we can compare because most if not all economies follow the world economy. Its rare to see countries go against the trend of the world economy. 

 

I believe that governments have not that much influence on how the economy is going but that its mostly cyclic.

9 hours ago, Eric Loh said:

For the record, none of elected governments since 2001 has done worse economically then non elected post coup governments. That include periods of instigated civil unrest. 

The debated comparatives should leave most empty.

As they're all apart of the same extended club - and always have been.