Private sector worried over economic impact of political turmoil

[webfact]

Private sector worried over economic impact of political turmoil

By The Nation

 

Kalin Sarasin

 

The private sector has expressed concern that escalating anti-establishment protests could impact the economy, the Thai Chamber of Commerce said on Wednesday.

 

Foreign investors were eager to invest in Thailand but might change their mind if the political unrest remains unresolved, said the chamber’s chairman Kalin Sarasin.

 

Four months of tension between the government and student-led protesters has risen in the past two weeks, with police turning water cannon on a rally and arresting dozens of protest leaders.

 

Kalin said the private sector wants to see all parties in the conflict meet for negotiations to end the turmoil peacefully.

 

On Wednesday, Prime Minister Prayut Chan-o-cha said the Cabinet had approved the setting up of a reconciliation committee to find a resolution for the crisis.

 

He said the committee should be appointed by the House and will include representatives of different parties, the Senate, the lower House and pro-democracy activists.

 

Parliament’s two-day extraordinary session held to seek a resolution to the ongoing political unrest wrapped up on Tuesday.

 

Meanwhile, the University of the Thai Chamber of Commerce (UTCC)’s Centre for Economic and Business Forecasting is maintaining its conjecture of a 3.5-4.5 per cent economic growth next year, UTCC president Thanavat Phonvichai said.

 

The centre is also maintaining its growth forecast for this year at between minus 7.5 and minus 8.5 per cent.

 

A recent survey conducted by the university on the confidence business operators have in the economy, most of the 300 respondents said the top factor affecting their operations was the Covid-19 outbreak, followed by the drop in foreign tourists, political uncertainty and lack of liquidity.

 

Some 28.33 per cent said they were at a high risk of shutting down, 38.36 per cent said they faced a medium risk of shutting down, while 4.36 per cent said there was no risk.

 

Source: https://www.nationthailand.com/business/30396939

 

-- © Copyright The Nation Thailand 2020-10-29

 

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[pegman]

The Chamber lost all credibility when it stated foreigners were lining up to invest in Thailand. Economic decline predates the pandemic.

[grumbleweed]

4 hours ago, webfact said:

Business Forecasting is maintaining its conjecture of a 3.5-4.5 per cent economic growth next year,

That's some crystal ball, Where did they get, Narnia.com?

[mtls2005]

 

4 hours ago, webfact said:

Kalin said the private sector wants to see all parties in the conflict meet for negotiations to end the turmoil peacefully.

 

Hopefully Prayut will allow more than the two days he allowed in 2014 for "talks", before he threw a temper tantrum, stormed out and staged a coup.

 

I know it was all 'staged' but still.

 

[rkidlad]

4 hours ago, webfact said:

Private sector worried over economic impact of political turmoil

They should be more worried about another coup. Now that would be suicide for the economy right now. Only a very tiny group of people who couldn't care less about anyone else would be okay with that.

 

Time for many groups, including the private sector, to realise which side is best for business. 

[mtls2005]

6 minutes ago, rkidlad said:

They should be more worried about another coup.

 

Meh.

 

Very few counter coups here,

 

 

1957?

1958?

 

military overthrowing military. Current government is military, regardless of the paint job.

 

 

 

 

The two rival RTA factions aren't so inclined unless spurred on by the "boss".

 

 

 

[rkidlad]

1 minute ago, mtls2005 said:

 

Meh.

 

Very few counter coups here,

 

 

1957?

1958?

 

military overthrowing military. Current government is military, regardless of the paint job.

 

 

 

 

The two rival RTA factions aren't so inclined unless spurred on by the "boss".

 

 

 

It would be a coup in name only.

 

An excuse to install a power hungry sycophant who will do whatever it takes to show his loyalty and be part of a special club.

 

Never underestimate a person who's never heard no. 

[Boomer6969]

Would be so easy to fix: just abrogate one law.

[holy cow cm]

5 hours ago, webfact said:

Kalin said the private sector wants to see all parties in the conflict meet for negotiations to end the turmoil peacefully.

 

Only way out is for the Regime to GET OUT! Only then can changing the constitution and other things start a reconciliation. At this point there may never be a true 100% healing because of the regime and the harsh royalists.

[hotchilli]

7 hours ago, webfact said:

Foreign investors were eager to invest in Thailand but might change their mind if the political unrest remains unresolved, said the chamber’s chairman Kalin Sarasin.

Go tell Prayut... he's the one with cloth ears!

[spidermike007]

Wrong. The protests are a natural and completely organic response to the continued army occupation of the nation. 

 

What the private sector should be warned about is the continued "non leadership" of this ridiculously toxic administration. 

 

Message to the tiny one:

As stated previously, what about your promise to fight corruption? I doubt if you remember back this far, but when you and your clowns launched a coup, it was ostensibly to restore law and order, which you accomplished with draconian measures, and to get rid of the rot, and corruption in immigration, the police, customs, the government, and at the highest levels, which you never even made the slightest attempt to do. You substituted 10 foot alligators, with 14 foot crocodiles. And you have spent your entire six years protecting the elite, those in office, the army, the police, those who are connected, and the super wealthy. For God's sake, you could not even bring the Dark Tao killer to justice, nor the Red Bull creep. Again, busy protecting the wealthy with all of your power. 
 
The real problem is, you will not go after any of these guys. Not the top bankers, not the high ranking guys, not the provincial authorities, and certainly not the army, or the police. They are all corrupt beyond imagination. And the level of corruption simply escalates, the further up the food chain you go. As far as most of us are concerned, everything is the same. The police and army are not expected to be honest, and they are not expected to engage in law enforcement, traffic or public safety, on any level. It is an irrevocably broken and dysfunctional system. Any hyperbole to the contrary, is just a smoke screen, intended to deceive the most naive amongst us. 
 
Now, in this time of desperation, with your nation needing you more than ever before, where on earth are you? What have your proposed? Where are the solutions? How are you going to rescue the economy, and the millions who are out of work? Where is the meritocracy? Why are you always picking from the bottom of the barrel, when it comes to appointments? Why do you insist on people with no experience? Sheer cronyism? The nation does not need or want that nonsense.

 

Grow up. Be a man. Behave like a man. Listen to your people for once in your life. There are at least a dozen good reasons why you should be removed from office. 

 

[kiwikeith]

1 hour ago, spidermike007 said:

Wrong. The protests are a natural and completely organic response to the continued army occupation of the nation. 

 

What the private sector should be warned about is the continued "non leadership" of this ridiculously toxic administration. 

 

Message to the tiny one:

As stated previously, what about your promise to fight corruption? I doubt if you remember back this far, but when you and your clowns launched a coup, it was ostensibly to restore law and order, which you accomplished with draconian measures, and to get rid of the rot, and corruption in immigration, the police, customs, the government, and at the highest levels, which you never even made the slightest attempt to do. You substituted 10 foot alligators, with 14 foot crocodiles. And you have spent your entire six years protecting the elite, those in office, the army, the police, those who are connected, and the super wealthy. For God's sake, you could not even bring the Dark Tao killer to justice, nor the Red Bull creep. Again, busy protecting the wealthy with all of your power. 
 
The real problem is, you will not go after any of these guys. Not the top bankers, not the high ranking guys, not the provincial authorities, and certainly not the army, or the police. They are all corrupt beyond imagination. And the level of corruption simply escalates, the further up the food chain you go. As far as most of us are concerned, everything is the same. The police and army are not expected to be honest, and they are not expected to engage in law enforcement, traffic or public safety, on any level. It is an irrevocably broken and dysfunctional system. Any hyperbole to the contrary, is just a smoke screen, intended to deceive the most naive amongst us. 
 
Now, in this time of desperation, with your nation needing you more than ever before, where on earth are you? What have your proposed? Where are the solutions? How are you going to rescue the economy, and the millions who are out of work? Where is the meritocracy? Why are you always picking from the bottom of the barrel, when it comes to appointments? Why do you insist on people with no experience? Sheer cronyism? The nation does not need or want that nonsense.

 

Grow up. Be a man. Behave like a man. Listen to your people for once in your life. There are at least a dozen good reasons why you should be removed from office. 

 

Hard to beat that.