Government dismisses Credit Suisse Wealth Report about Thailand’s wealth gap as unreliable

 

 

The government has dismissed Credit Suisse Wealth Report 2018 which put Thailand as the world’s Number One country with the highest wealth gap between the rich and the poor as “inaccurate, incomplete and unreliable”.

 

A part of the report regarding Thailand was posted on the social media on Wednesday by Mr Banyong Pongpanich, a former member of the State Enterprise Police and Supervisory Committee. It said saying two years ago, the one percent Thai adults (about 500,000

individuals) owned 58.0 percent of the overall wealth of the country and this year, these people’s wealth has increased to 66.9 percent of the national wealth.

 

Banyong said the wealth gap between the one percent rich and the 99 percent of the rest of the population this year has put Thailand on the top of the list, surpassing Russia which was on the top spot a year earlier and now dropped to second  and India which has dropped to No 4 spot.

 

Full story:  https://www.thaipbsworld.com/government-dismisses-credit-suisse-wealth-report-about-thailands-wealth-gap-as-unreliable/

 

-- © Copyright Thai PBS 2018-12-07

5 minutes ago, webfact said:

 

The government has dismissed Credit Suisse Wealth Report 2018 which put Thailand as the world’s Number One country with the highest wealth gap between the rich and the poor as “inaccurate, incomplete and unreliable”.

No surprises there. The Government always denies any report that shows Thailand in a bad light. In this case, they obviously don't want Joe Public to know that despite all their efforts, those at the top are taking more and more of the pie. Personally, I believe Credit Suisse over the Junta every time.

Edited December 7, 20187 yr by ThreeEyedRaven

And did anyone really expect anything different out of the Thai government?  

What rubbish! Every man, women and child in Thailand owns 25 expensive watches.

NESDB denies Thailand has biggest income gap in world

By The Nation

 

Thailand's national economic planning agency has denied that the country is the most unequal in the world but admits that the income gap remains a challenging issue

 

The National Economic and Social Development Board (NESDB) said on Friday that the gap between rich and poor in the country has narrowed in the past decade but is still a problem.

 

The NESDB said that a social media report ranking Thailand as the most unequal country globally was misleading. 

 

By using the World Bank Gini index - a measurement that represents the income or wealth distribution of a nation's residents - Thailand's income gap has narrowed over the last 10 years, as the Gini coefficient dropped to 0.453 last year from 0.499 in 2007. 

 

The NESDB said that Thailand's ranking was up from 46th place among 73 countries in 2013 to 40th place among 67 countries in 2015. 

 

The state think-tank stated that the Thai government has given priority to the issue to achieve equal income distribution.

 

The government plans to reduce the income gap among the top 10 per cent of the richest members of the population and the 10 per cent of the poorest to 15 times by 2037, down from 22 times currently.

 

The government aims to bring down the Gini coefficient, to 0.36 by 2037 from 0.453 in 2017, it added

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30359990

 

-- © Copyright The Nation 2018-12-07

Damning indictment of the inequity and corruption of 21st century Thailand.

Thailand World’s Most Unequal Nation? Govt Says Not

By Teeranai Charuvastra, Staff Reporter

 

Shoppers and tourists at IconSiam shopping mall on Nov. 9.

 

BANGKOK — A government spokesman on Friday hit back at a Swiss bank report claiming Thailand has the world’s most unequal distribution of wealth.

 

Puttipong Punnakan said the claim, which was based on a report released by global investment firm Credit Suisse, is misleading because it only examined 40 countries – most of them wealthy members of the OECD – and relied on outdated data.

 

Full story: http://www.khaosodenglish.com/news/business/2018/12/07/thailand-worlds-most-unequal-nation-govt-says-not/

 

-- © Copyright Khaosod English 2018-12-07

1 minute ago, webfact said:

Thailand World’s Most Unequal Nation? Govt Says Not

By Teeranai Charuvastra, Staff Reporter

 

Shoppers and tourists at IconSiam shopping mall on Nov. 9.

 

BANGKOK — A government spokesman on Friday hit back at a Swiss bank report claiming Thailand has the world’s most unequal distribution of wealth.

 

Puttipong Punnakan said the claim, which was based on a report released by global investment firm Credit Suisse, is misleading because it only examined 40 countries – most of them wealthy members of the OECD – and relied on outdated data.

 

Full story: http://www.khaosodenglish.com/news/business/2018/12/07/thailand-worlds-most-unequal-nation-govt-says-not/

 

-- © Copyright Khaosod English 2018-12-07

 

Who in their right mind would believe the Swiss know anything about banking and financial matters.

????????????

Thai people dismissing anything a foreigner says. What else is new. You could try to give them a lighter to start a fire and 5 minutes later you turn around and see them rubbing 2 sticks together. Thai's are forever stuck in their ways that they are superior to foreigners and that you have nothing to offer them other than money.  

9 minutes ago, khwaibah said:

a Swiss bank report claiming Thailand has the world’s most unequal distribution of wealth.

From my time spent in Bangkok, I thought it was a given...

 

Edited December 7, 20187 yr by missoura

They no the data is incorrect because the top 1% actual own 82% of the wealth. 

10 minutes ago, vinegarbase said:

Thai people dismissing anything a foreigner says. What else is new. You could try to give them a lighter to start a fire and 5 minutes later you turn around and see them rubbing 2 sticks together. Thai's are forever stuck in their ways that they are superior to foreigners and that you have nothing to offer them other than money.  

Bang on..

 

The Swiss are 100% wrong.

 

The pork noodles lady told me this in the morning and it  was repeated by the local moneylender in the afternoon.

 

The Baht is sound.

Thailand must reform the tax laws. Tax avoidance by the rich and multi-national companies is a major reason for the increasing wealth gap and inequality. I hope the next elected government will reform the tax structure and stop kicking the property tax law down the road like this junta government. 

hey

No 1!

14 minutes ago, Eric Loh said:

Thailand must reform the tax laws. Tax avoidance by the rich and multi-national companies is a major reason for the increasing wealth gap and inequality. I hope the next elected government will reform the tax structure and stop kicking the property tax law down the road like this junta government. 

No need to reform the tax laws, just enforce them. Like most things in Thailand it is only the poor who follow the rules, and even then they are not too bothered about a lot of them.

1 minute ago, Chang_paarp said:

No need to reform the tax laws, just enforce them. Like most things in Thailand it is only the poor who follow the rules, and even then they are not too bothered about a lot of them.

Total agreement with you. The tax reform must include more forceful enforcement and bigger fines for offenders. 

41 minutes ago, webfact said:

The government plans to reduce the income gap among the top 10 per cent of the richest members of the population and the 10 per cent of the poorest to 15 times by 2037

If they could stop he corruption, their goals should be reached by 2019.

The Hub of infamous Hubs

21 minutes ago, Odysseus123 said:

Bang on..

 

The Swiss are 100% wrong.

 

The pork noodles lady told me this in the morning and it  was repeated by the local moneylender in the afternoon.

 

The Baht is sound.

The Big Mac index says that the true value of the Baht is:

US$ = 22.54 Baht

GB£ = 37.30 Baht

2 minutes ago, Andrew65 said:

The Big Mac index says that the true value of the Baht is:

US$ = 22.54 Baht

GB£ = 37.30 Baht

And getting more overweight by the day.

The government just wants to embezzle the figures down old habits die hard????

Interesting.
All those saying "No way!" appear to be members of the top 1%.
"Its the same the whole world over..."

55 minutes ago, overherebc said:

Who in their right mind would believe the Swiss know anything about banking and financial matters.

????????????

Is it possible the Swiss noticed that only 3% of Thai's have Swiss bank accounts. The other 97% don't know Switzerland exists.

It's so unequal and corruption is still rampant throughout the country. But fear not, the military have it covered 

1 hour ago, vinegarbase said:

Thai people dismissing anything a foreigner says. What else is new. You could try to give them a lighter to start a fire and 5 minutes later you turn around and see them rubbing 2 sticks together. Thai's are forever stuck in their ways that they are superior to foreigners and that you have nothing to offer them other than money.  

thais are not the only ones  with that superior attitude... couple other countries in asia think the same way

2 hours ago, PatOngo said:

What rubbish! Every man, women and child in Thailand owns 25 expensive watches.

I have lent mine to a General.

Can't seem to get them back...

Edited December 7, 20187 yr by JAG

2 hours ago, overherebc said:

Who in their right mind would believe the Swiss know anything about banking and financial matters.

????????????

Not me, I know that Thailand is THE hub of banking

17 minutes ago, JAG said:

I have lent mine to a General.

Can't seem to get them back...

Careful, seems most of those who loaned watches are now dead. 

The gap between your average farmer 's wealth,and that of the average General

is so wide you who need a high power telescope to see it.

regards worgeordie