BOT governor: Thai economic engines not powerful anymore

[webfact]

 

By Panithan Onthaworn

 

Thailand’s economic engines may not be as strong as they previously were, the central bank governor said on Thursday, as the country’s vital tourism industry has been severely hit by the Covid-19 pandemic. 

 

“The structure of the Thai economy remains unchanged even after 40 years,” Sethaput Suthiwartnarueput, Governor of the Bank of Thailand (BOT), told a business seminar called ‘Looking Beyond Covid-19.’

 

While much of the world has shifted completely, the country is still reliant on exports of automobiles, petroleums, electronics, as well as tourism, Sethaput said.

 

Full story: https://www.thaienquirer.com/35094/bot-governor-thai-economic-engines-not-powerful-anymore/

 

-- © Copyright Thai Enquirer 2021-11-18

 

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[Geoffggi]

28 minutes ago, webfact said:

Thailand’s economic engines may not be as strong as they previously were, the central bank governor said on Thursday, as the country’s vital tourism industry has been severely hit by the Covid-19 pandemic. 

Not wishing to rub salt into the wounds but you know exactly who to thank for this situation, Mr. bumble and his cohorts who think they are doing a sterling job ........LOL

[mtls2005]

Slave labor certainly helps fuel the engine.

 

 

 

 

[86Tiger]

Very simply broken down there are only 3 basic means of wealth creation to a nation:  natural resources (oil, metals, etc.), adding value through labor/ideas to natural resources (manufacturing, agriculture, etc.) or outsiders bringing their money from abroad and leaving it with you (tourism).

 

Kill one you rely on and restrict the others you in for hard times.

[trainman34014]

One day in a far away Galaxy Planet Thailand may 'Invent' something for itself instead of relying on Car and Electronic Factories paid for by Japanese and other Foreign countries to employ hundreds of Thousands of Thai's that would otherwise be planting and cutting Rice.

 

Now the Tourists are gone thanks to a total Mismanagement of the Covid situation and the continuing stupidity of the Gangsters in Uniform 'supposedly' running the country; i wonder if one day the big Car and Electronic companies will decide that Thailand is no longer a good place to invest and up sticks to grasses greener... then what ?

[RichardColeman]

 

2 hours ago, webfact said:

Thailand’s economic engines may not be as strong as they previously were, the central bank governor said on Thursday, as the country’s vital tourism industry has been severely hit by the Covid-19 pandemic. 

No, it's been hit by :

1. incompetent  leadership

2. Restrictions on entry to tourism by see 1.

[zzaa09]

5 hours ago, Geoffggi said:

Not wishing to rub salt into the wounds but you know exactly who to thank for this situation, Mr. bumble and his cohorts who think they are doing a sterling job ........LOL

Though, they had significant help from the usual circles of handlers. 

Remembering, that he's a little less than a staged marionette.

The real players stay behind the curtain. 

So it goes......the traditional Thai political theatre of influence.

[Gottfrid]

Back to reality! It´s not only Covid-19 that is the reason people looking elsewhere.

[Kinnock]

The tragic reality is that the elite in charge of the Thai economy do not care ..... they are already fabulously wealthy and getting richer.

[Albert Zweistein]

A change of rules, once a day

Keeps all the tourists away !

[Gsxrnz]

The Thai economic engine is simply in need of a tune up.  I mean, how difficult can it be to replace the rubber band?

[hotchilli]

19 hours ago, webfact said:

Thailand’s economic engines may not be as strong as they previously were, the central bank governor said on Thursday, as the country’s vital tourism industry has been severely hit by the Covid-19 pandemic. 

 

Sounds a bit like the Bangkok water pumps?

[hotchilli]

18 hours ago, mtls2005 said:

Slave labor certainly helps fuel the engine.

 

 

 

 

Only keeps the 2-stroke going.

[hotchilli]

16 hours ago, trainman34014 said:

One day in a far away Galaxy Planet Thailand may 'Invent' something for itself instead of relying on Car and Electronic Factories paid for by Japanese and other Foreign countries to employ hundreds of Thousands of Thai's that would otherwise be planting and cutting Rice.

 

Now the Tourists are gone thanks to a total Mismanagement of the Covid situation and the continuing stupidity of the Gangsters in Uniform 'supposedly' running the country; i wonder if one day the big Car and Electronic companies will decide that Thailand is no longer a good place to invest and up sticks to grasses greener... then what ?

Total collapse that's what.

If they all packed up and left Thailand would have nothing.

[thaibook]

On 11/18/2021 at 1:38 PM, Geoffggi said:

Not wishing to rub salt into the wounds but you know exactly who to thank for this situation, Mr. bumble and his cohorts who think they are doing a sterling job ........LOL

he said even after 40 years.  The blame is therefore equally on all the corrupt individuals and dynasties such as ShinShin etc

 

[rott]

The structure of the economy has not changed for 40 years. It is based on exports of automobiles, petroleum products and electronics as well as tourism. 

 

That presumably is a criticism, but what should be different, what should they have changed to.? Probably I've missed something. 

[DaveSamutP]

8 hours ago, rott said:

The structure of the economy has not changed for 40 years. It is based on exports of automobiles, petroleum products and electronics as well as tourism. 

 

That presumably is a criticism, but what should be different, what should they have changed to.? Probably I've missed something. 

1st, important not to overlook that tourism (s3x tourism) is technically an export. Thais generally are too embarrased to admit how reliant the country is on massage parlors. 

 

2nd, what they should have been doing for the last 20-30 years is moving up the food chain rather then assembling stuff. This is how you avoid the middle income trap that they are firmly in. 

[HAPPYNUFF]

You have a country  run by a gang of bumbling old men, who actually think they are soldiers, yet who have never even heard a shot fired in anger, being manipulated  by  Sino/Thais  in the background,  both  groups  having not the slightest interest in the welfare or well being  of their own  people.

[trainman34014]

Like all this Twits other 'Demands'; this one will also be completely ignored by Thailands incompetent workforce ! 

[trainman34014]

4 hours ago, HAPPYNUFF said:

You have a country  run by a gang of bumbling old men, who actually think they are soldiers, yet who have never even heard a shot fired in anger, being manipulated  by  Sino/Thais  in the background,  both  groups  having not the slightest interest in the welfare or well being  of their own  people.

Bumbling old Gangsters actually who are merely Puppets for even more Corrupt 'Leaders'.

[billd766]

On 11/20/2021 at 12:04 AM, thaibook said:

he said even after 40 years.  The blame is therefore equally on all the corrupt individuals and dynasties such as ShinShin etc

 

Well to answer your question I suggest that you take a look here.

 

https://en.wikipedia.org/wiki/List_of_prime_ministers_of_Thailand

 

Start with #16 Prem Tinsulanonda and work forwards.

 

Then work out hw long Thaksin Shinawatra was in power (He actually won a freely held election, not once but twice. The only Thai PM to do so). He was of course deposed by a military coup as was his sister Yingluck Shinawatra.

 

Strangely enough when Thaksin was PM the country flourished and prospered unlike under the current incumbent. 

 

Under Thaksin the Thai people also prospered And he did a fair number of things for them including the 30 baht health scheme and he also established the Oil Fund scheme.

 

Now ask yourself what the current government has successfully done for the Thai people over the last 7 years, and compare the two.

 

There have been a lot of military coups in the last 40 years

[zzaa09]

7 minutes ago, billd766 said:

Well to answer your question I suggest that you take a look here.

 

https://en.wikipedia.org/wiki/List_of_prime_ministers_of_Thailand

 

Start with #16 Prem Tinsulanonda and work forwards.

 

Then work out hw long Thaksin Shinawatra was in power (He actually won a freely held election, not once but twice. The only Thai PM to do so). He was of course deposed by a military coup as was his sister Yingluck Shinawatra.

 

Strangely enough when Thaksin was PM the country flourished and prospered unlike under the current incumbent. 

 

Under Thaksin the Thai people also prospered And he did a fair number of things for them including the 30 baht health scheme and he also established the Oil Fund scheme.

 

Now ask yourself what the current government has successfully done for the Thai people over the last 7 years, and compare the two.

 

There have been a lot of military coups in the last 40 years

Yes. And then we have to ask ourselves: What's wrong with this picture?  What's the truer crux of why the cycling military interventions?   

 

The historical answers are quite available to decipher. Doesn't take a genius to ascertain the reality of the picture.