The President of the University of the Thai Chamber of Commerce (UTCC) Thanavath Phonvichai has revealed that consumer confidence in Thailand has fallen for the first time in 14 months as non-performing loans surged in the second quarter to reach ฿1 trillion as China’s economy stalls with US President Joe Biden describing it as a ‘ticking time bomb’ for the world.

A troubling external geo-political environment adds to the sense of danger with US President Joe Biden warning on Friday that China’s economy, on which Thailand has become very much dependent, is a ‘ticking time bomb’ much the same as the country’s private debt sector where non-performing loans are have spiralled out of control in the second quarter of 2023.

As Thailand’s politicians wrangle over who will take power amid a well-conceived conservative plot to use the unelected Senate to control the formation of the next government, the country’s economy is manifesting danger signals with a prolonged export slump and a rising problem with private sector debt that may just become explosive. These have combined with political instability concerns to reduce consumer confidence for the first time in 14 months.

 

It fell from 56.7 in June to a current figure of 55.6 and the University reported that three further indexes, including one monitoring confidence in the future and job opportunities, had also dropped in the same period.

 

by Joseph O' Connor

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2023/08/12/economic-danger-signals-as-politicians-may-14th-wrangle-china-banking-debt-crisis/

 

-- © Copyright Thai Examiner 2023-08-14

 

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Economic danger signals emerging as politicians wrangle over who will form the next government  get the spoils! 

6 hours ago, webfact said:

A troubling external geo-political environment adds to the sense of danger with US President Joe Biden warning on Friday that China’s economy, on which Thailand has become very much dependent, is a ‘ticking time bomb’ much the same as the country’s private debt sector where non-performing loans are have spiralled out of control in the second quarter of 2023.

Boom or bust... 

The only thing of economic interest to these twerps is getting their fingers in the money pie.  Other than that the Countries fortunes can go to hell !