snoop1130 Posted December 4, 2019 Share Posted December 4, 2019 Thai economic slowdown result of global economy: DPM Somkid BANGKOK (NNT) - Private companies held a national chambers of commerce seminar to gather suggestions on economic stimulation. Deputy Prime Minister Somkid Jatusripitak, who is to receive these suggestions in the name of the government, stressed that the Thai economy is actually growing, albeit slowly due to global economic challenges. Deputy Prime Minister Somkid Jatusripitak delivered a speech on cooperation, in which he stressed that the Thai economy is growing at a slow pace, pointing out that the country’s low 2.5-2.6 percent economic growth is a consequence of the U.S.-China trade war, which is affecting the export sector. The Thai economy relies heavily on the export sector, which represents 70 percent of GDP, with most of the exports being farm products. The sector is also suffering from an appreciating Thai baht, which is being addressed by the Bank of Thailand. He pointed out the Thai baht will not depreciate to 32 baht per 1 U.S. dollar like in the past, requiring companies to adjust for survival. He said the economy in Q4 2019 will show recovery due to stimulus measures issued by the government. At the 37th national chambers of commerce seminar, held in Lampang, the Thai Chamber of Commerce and the Board of Trade Chairman Kalin Sarasin delivered a white paper, containing suggestions for economic measures by private companies, to the Deputy Prime Minister. These suggestions cover efforts to reduce economic inequalities, in keeping with the government’s 20-year national strategy. The private sector has expressed its willingness to cooperate with the government to drive the economy forward. They are asking the government to disclose non-classified information for companies to enable business analysis. Companies have suggested that the government arrange a more diverse range of tourism activities, such as musical performances and international sports competitions, as well as promoting the film industry. They have also asked the government to provide better support for local stores. -- © Copyright NNT 2019-12-04 Follow Thaivisa on LINE for breaking Thailand news and visa info 1 Link to comment Share on other sites More sharing options...
Popular Post ozz1 Posted December 4, 2019 Popular Post Share Posted December 4, 2019 That's it blame China and the America and the rest of the world nothing to do with the thai baht being high either crazy! 8 Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted December 4, 2019 Popular Post Share Posted December 4, 2019 Nothing to do with the strong THB,it's the rest of the Worlds fault.???? regards worgeordie 5 3 Link to comment Share on other sites More sharing options...
Popular Post nkg Posted December 4, 2019 Popular Post Share Posted December 4, 2019 Farang do, no Thai. Farang think too much! 1 4 Link to comment Share on other sites More sharing options...
CNXexpat Posted December 4, 2019 Share Posted December 4, 2019 Thailand is the country in SEA with the lowest increase of the economy, same as last year. I think the government will not think about what the others make better. 2 Link to comment Share on other sites More sharing options...
Popular Post kingofthemountain Posted December 4, 2019 Popular Post Share Posted December 4, 2019 2 hours ago, snoop1130 said: The sector is also suffering from an appreciating Thai baht, which is being addressed by the Bank of Thailand And since more than 6 months we are still waiting to see the beginning of a result from the (in)action of the Bank of Thailand, I wonder how many years it'll take to ''address'' the problem in a correct way 7 Link to comment Share on other sites More sharing options...
shadowofacloud Posted December 4, 2019 Share Posted December 4, 2019 2 hours ago, snoop1130 said: Companies have suggested that the government arrange a more diverse range of tourism activities, such as musical performances and international sports competitions, as well as promoting the film industry. Now, problem solved. The economy will soon be back on track to two digit growth. It was simple, really. How come nobody came up with this earlier? 2 Link to comment Share on other sites More sharing options...
Popular Post Misterwhisper Posted December 4, 2019 Popular Post Share Posted December 4, 2019 2 hours ago, snoop1130 said: Thai economic slowdown result of global economy: DPM Somkid Yeah, yeah, just keep telling yourself that, Mr. Somkid. 5 1 Link to comment Share on other sites More sharing options...
Denim Posted December 4, 2019 Share Posted December 4, 2019 Somkid bended the truth today Truth today Truth today Somkid bended the truth today What'll he do tomorrow. 2 Link to comment Share on other sites More sharing options...
Popular Post Destiny1990 Posted December 4, 2019 Popular Post Share Posted December 4, 2019 The blaming game???? 1 2 Link to comment Share on other sites More sharing options...
Popular Post klauskunkel Posted December 5, 2019 Popular Post Share Posted December 5, 2019 13 hours ago, snoop1130 said: He said the economy in Q4 2019 will show recovery Huh? Which quarter are we in right now? Lost track, there are so many. 1 2 Link to comment Share on other sites More sharing options...
Popular Post mikebell Posted December 5, 2019 Popular Post Share Posted December 5, 2019 13 hours ago, snoop1130 said: They are asking the government to disclose non-classified information for army spending. 2 1 Link to comment Share on other sites More sharing options...
30la Posted December 5, 2019 Share Posted December 5, 2019 Dear Somkid, every day you invent a new lie, it seems that the purpose of your presence in the government is to blame everyone but not those responsible! Be brave once, to your people as things really are! Ups ... it would be a blow against yourself ... sorry ...! 1 Link to comment Share on other sites More sharing options...
Popular Post yellowboat Posted December 5, 2019 Popular Post Share Posted December 5, 2019 13 hours ago, snoop1130 said: The Thai economy relies heavily on the export sector, which represents 70 percent of GDP, with most of the exports being farm products. This is why Thailand will never send people to the moon, find cures for disease or build the world's tallest building. Crony capitalism only benefits the very few inbred elites at the expense of the country. Somkid should be ashamed. 3 Link to comment Share on other sites More sharing options...
Popular Post BestB Posted December 5, 2019 Popular Post Share Posted December 5, 2019 For 2 decades i read and heard nothing but how strong Thai economy is and did not get affected by EU financial crisis, American Financial Crises, Asia Financial crisis, nothing could shake Thai economy, even during riots, flooding, there was nothing that could shake Thai economy, All over sudden as it turns out, the reason for Thai economy flushing down the toilet is global economy downturn. Naturally has nothing to do with being mismanaged for past 4-5 years by incompetent people, its the bad foreigners who making Thai economy fall apart 4 1 Link to comment Share on other sites More sharing options...
Popular Post spidermike007 Posted December 5, 2019 Popular Post Share Posted December 5, 2019 (edited) Nothing to do with a collapsing and dominated tourism market. Nothing to do with low baht tourists, which are all the Thai govt and the TAT are capable of attracting these days, due to dozens of huge mistakes and miscalculations. Deflect, obfuscate, lie, mislead, and mismanage. That is what this administration does best. And avoid losing face at all costs. Saving face is for weaklings. People who know nothing of the practice of Buddhism, which teaches one to look within for the source of the problem, and introspect. And to take responsibility. Who cares what people think of you? For those of us with high self esteem, it just does not matter. Sure, close friends and family. But strangers on the street? Who gives a hoot about this? It means nothing what they think, nor what they say about you. Nothing, less than zero. They count for nothing. They are just people, and people you do not know, nor will ever see again. Face is rife with self doubt, and by subscribing to this weakness, a man or a woman is made a far lesser person. Edited December 5, 2019 by spidermike007 6 1 Link to comment Share on other sites More sharing options...
Brickbat Posted December 5, 2019 Share Posted December 5, 2019 A strong baht benefits the ultra rich 1 Link to comment Share on other sites More sharing options...
Brickbat Posted December 5, 2019 Share Posted December 5, 2019 (edited) Sabai sabai, Mai pen rai Edited December 5, 2019 by Brickbat Doubled up 1 Link to comment Share on other sites More sharing options...
Popular Post madmitch Posted December 5, 2019 Popular Post Share Posted December 5, 2019 15 hours ago, snoop1130 said: He pointed out the Thai baht will not depreciate to 32 baht per 1 U.S. dollar like in the past, requiring companies to adjust for survival. I interpret this as him asking exporters and hence sources to lower prices! This will escalate downwards so the already poor farmers become even poorer. Whilst the fat cats continue to get richer and richer. 3 Link to comment Share on other sites More sharing options...
Popular Post BestB Posted December 5, 2019 Popular Post Share Posted December 5, 2019 1 minute ago, madmitch said: I interpret this as him asking exporters and hence sources to lower prices! This will escalate downwards so the already poor farmers become even poorer. Whilst the fat cats continue to get richer and richer. He does not know what he is asking, he is as clueless and his boss. eggs were 65 baht, then went up to 80 baht. now at 100 baht and my supplier advised as of new year will be 120 baht. No one is dropping prices as they simply can not afford to because cost of doing business keeps going up. if I had to guess. Current regime will run country down into the ground but lay blame on foreigners and foreign economies . sooner or later the elites will start to suffer losses and perhaps will see change of direction 5 Link to comment Share on other sites More sharing options...
Isaan sailor Posted December 5, 2019 Share Posted December 5, 2019 They’ve purposely crushed our currencies, to serve their masters—the ChiComs. So let the economy burn. Link to comment Share on other sites More sharing options...
spidermike007 Posted December 5, 2019 Share Posted December 5, 2019 19 minutes ago, BestB said: He does not know what he is asking, he is as clueless and his boss. eggs were 65 baht, then went up to 80 baht. now at 100 baht and my supplier advised as of new year will be 120 baht. No one is dropping prices as they simply can not afford to because cost of doing business keeps going up. if I had to guess. Current regime will run country down into the ground but lay blame on foreigners and foreign economies . sooner or later the elites will start to suffer losses and perhaps will see change of direction One can only hope many of the current generals in charge now, will end up in prison or at least exile, later. They sure deserve that. 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted December 5, 2019 Share Posted December 5, 2019 16 hours ago, snoop1130 said: He pointed out the Thai baht will not depreciate to 32 baht per 1 U.S. dollar like in the past, requiring companies to adjust for survival. By adjusting , Thai mentality is put price up to cover loses 1 Link to comment Share on other sites More sharing options...
agood1963 Posted December 5, 2019 Share Posted December 5, 2019 THAI GOVERNMENT ALWAYS BLAME THE GLOBAL ECONOMY NOT THEMSELVES , WHY ARE OTHER COUNTRIES DOING JUST FINE . 2 Link to comment Share on other sites More sharing options...
Seeall Posted December 5, 2019 Share Posted December 5, 2019 16 hours ago, worgeordie said: Nothing to do with the strong THB,it's the rest of the Worlds fault.???? regards worgeordie just like all the crashes are the brakes fault... its like a classroom of 5 year olds.... 1 Link to comment Share on other sites More sharing options...
Popular Post Seeall Posted December 5, 2019 Popular Post Share Posted December 5, 2019 48 minutes ago, RichardColeman said: By adjusting , Thai mentality is put price up to cover loses just like a bar girl standing on the corner at 1 am ... not made any money that week so she doubles her price... guess what... shes still standing there at sun up.... 1 2 Link to comment Share on other sites More sharing options...
Mavideol Posted December 5, 2019 Share Posted December 5, 2019 19 hours ago, snoop1130 said: he stressed that the Thai economy is growing at a slow pace 19 hours ago, snoop1130 said: He said the economy in Q4 2019 will show recovery due to stimulus measures issued by the government. first he say economy is slow and next paragraph/sentence he says economy will show recovery, is it contradictory or what, the guy doesn't know left from right like the majority of his colleagues at the government 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted December 5, 2019 Share Posted December 5, 2019 Meanwhile, Vietnam is eating Thailand’s sum tam (lunch). They don’t take orders from the ChiComs—no bullet trains, no submarines, and have a much higher English language proficiency. Oh yes, did I mention the difference in currencies vs USD? 2 Link to comment Share on other sites More sharing options...
kevin612 Posted December 5, 2019 Share Posted December 5, 2019 No, baht will depreciate back to 32, 33 in the future. Because it is a cycle. 1 Link to comment Share on other sites More sharing options...
Mavideol Posted December 5, 2019 Share Posted December 5, 2019 On 12/4/2019 at 5:53 PM, snoop1130 said: He pointed out the Thai baht will not depreciate to 32 baht per 1 U.S. dollar that's ok, for now just get it at 31.99 and we will talk later 1 Link to comment Share on other sites More sharing options...
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