Thai economy expected to be affected by global turbulence for 2 more years

[webfact]

Photo by Lillian SUWANRUMPHA / AFP

 

Thailand’s economy will be affected by global economic turbulence, which may for last two years, during which growth in Thai exports will contract while domestic inflation will increase, said Kobsak Pootrakool, former Prime Minister’s Office Minister and, currently, senior executive vice president of the Bangkok Bank.

 

Speaking about “Economic Turbulence 2022 and How to Cope with It”, he said that all countries must be prepared to cope with the consequences of international geo-political conflicts, energy and food crises, turbulence in global capital and financial markets and an economic slowdown in China.

 

These will impact emerging markets and the economy of Thailand for the next 1-2 years and will slow Thai exportgrowth, which recorded a 20% increase last year.

 

Full story: https://www.thaipbsworld.com/thai-economy-expected-to-be-affected-by-global-turbulence-for-2-more-years/

 

-- © Copyright Thai PBS 2022-07-25

 

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[ThailandRyan]

We all can see the deteriorating exports and imports from the supply chain for many items.  It is not just because of the Pandemic, the debacle in the Ukraine, or from shortages due to labor issues, but has been coming for a great while.  Resources the world over are starting to dwindle in prior locations and new locations need to be sourced and workers obtained.  When countries the world over rely on just a few select locations to obtain certain products, from which to feed their country, then there is definitely going to be a problem when those sources dry up due to either over purchasing or blockages in the supply line.  With inflation rising everywhere, and with wages being stagnate here in Thailand for the majority, rising prices and a lack of items for those folks will be around for awhile if the Government does not stop spending billions on Military hardware and does not look to the farmers to start to produce alternate crops to feed the people from.

[mrfill]

Getting in early with the 'it's somebody else's fault' plan.....

[Eric Loh]

2 hours ago, mrfill said:

Getting in early with the 'it's somebody else's fault' plan.....

Thailand is a small economy which is dependent on export and tourism which is about 60% and 7% of GDP respectively. Global dynamics have major impact not just Thailand but other small economies in the region. 

Edited July 25, 2022 by Eric Loh

[micmichd]

2 hours ago, mrfill said:

Getting in early with the 'it's somebody else's fault' plan.....

Scapegoating is common behaviour in times of crisis and uncertainty... 

[Isaan sailor]

Suck it up, Thailand.  Nobody said it would be easy.

[spidermike007]

Not global turbulence. Alot of economies are doing very well. Best to be honest and call it Prayuth/Anutin disruption, sabotage and malfeasance.