Thai Economy OK But Flood Plan Needed: Abhisit

[webfact]

Economy OK but flood plan needed: Abhisit

The Nation

Opposition leader Abhisit Vejjajiva said he is confident the Thai economy will stay afloat this year, but urged the Yingluck Shinawatra government to quickly restore investor confidence by introducing comprehensive anti-flood measures.

Abhisit also urged the government to implement community welfare policies to strengthen the grass roots economy and social well-being. He had faith in many economic fundamentals, the level of national reserves and the fiscal situation, along with the country's ability to compete as an exporter and tourist destination. "It's up to the government to capitalise on them or eat up our economic capital," he said.

Asked how people should prepare themselves to cope in the coming year, Abhisit said many were still trying to rebuild their livelihoods as a result of the devastating flood. They still faced many burdens and would need the state assistance to overcome them. "Many factors are difficult to predict. We don't know if there will be more natural calamities or global economic uncertainty. It's difficult to even predict the trend for the price of petrol."

He vowed to closely watch state policies, including the seaport project in Dawei (Tavoy), Burma, and the Thai-China high-speed train project.

-- The Nation 2012-01-02

[spidermike007]

This is another example of Abhisit the dreamer. The IMF estimates that the flood damage is around 1.4 trillion baht. That is over $40 billion US. In addition one must calculate lost revenue, from the 1000's of businesses that were nearly put out of business by the flooding, the billions lost from companies that do not want to rebuild, as they have completely lost confidence in the Thai government, the lost tourism revenue, etc., etc., etc. How can this man continue with the bold face lying at this point? Why not just fess up, and admit that Thailand took on in the shins, and needs to work from there? Is honesty such a terrible thing? When will the lies stop? Does anyone notice?

[ralphlsasser]

No wonder the people voted "wonder boy" out of office. He doesn't have a clue. He's recomending what Yingluck should do. If he had been any good, HE should have done what he's telling her to do. He's a "Bangkok elite joke." He needs to go back to England because he's ran his course here.

[ralphlsasser]

This is another example of Abhisit the dreamer. The IMF estimates that the flood damage is around 1.4 trillion baht. That is over $40 billion US. In addition one must calculate lost revenue, from the 1000's of businesses that were nearly put out of business by the flooding, the billions lost from companies that do not want to rebuild, as they have completely lost confidence in the Thai government, the lost tourism revenue, etc., etc., etc. How can this man continue with the bold face lying at this point? Why not just fess up, and admit that Thailand took on in the shins, and needs to work from there? Is honesty such a terrible thing? When will the lies stop? Does anyone notice?

Spot on. Yes, honesty is a terrible thing as far as government goes. I don't see any time in the future for lies to stop. That's their way of doing normal business. No wonder this is a 3rd world country and will be for many years to come. It's really sad because Thailand has so much potental.

[thanchart]

,,,, must calculate lost revenue, from the 1000's of businesses that were nearly put out of business by the flooding, the billions lost from companies that do not want to rebuild,.....

Do u have statistics on what is a good estimate of the number of companies? 1000's is a big and rather vague range. How many are local Thai companies; how many are foreign?

From my own experience going through the floods at Pathum Thani, where the entire industrial estate was totally submerged, the Thai company I belong to is recovering at a remarkable pace, and we are now confident we will emerge leaner but stronger. Taking this chance to re-engineer, and innovate. How many are doing like us, I don't know but what's happening now s very real. The floods have ironically given us new reasons & urgency to do what we know we need to do to progress to the next lap.

I am sure there are plenty of companies, both Thai and Foreign who are doing the same

[spidermike007]

No wonder the people voted "wonder boy" out of office. He doesn't have a clue. He's recomending what Yingluck should do. If he had been any good, HE should have done what he's telling her to do. He's a "Bangkok elite joke." He needs to go back to England because he's ran his course here.

He spent his entire time in office, doing the bidding of the army brass. That is why he was chosen. He never represented the people, nor did he care about their plight. He put on a good show, but was not in possession of any power, nor did he have any real desire to see any real change in Thailand. It was always about maintaining the power elite, so yes, you are right about him representing the Bangkok elite.

[Oberkommando]

I thought Yingluck was PM no?

The Nation is so utterly biased it's hard to force oneself to read any of their articles any more; there's more on the opposition suggesting policy than there is on the actual sitting government making it.

[scotbeve]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

[whybother]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

Defense for what?

It's interesting that all the previous posts are attacking Abhisit rather than defending the current government. Are Abhisit's comments too close to the bone?

[tlansford]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

no mention of Thaksin in the title of the article...

Let's hope we're lucky and the thread doesn't go down the usual "ignorant red buffalo vote-selling terrorists burning BKK in support of the Dubai-devil-puppeteer-paymaster and his air-head clone incompetent sister PM with her cronies / band of criminal red (Maoist) thieving (scumbag) vote-buying thugs" route...

[ajarnmark]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

Defense for what?

It's interesting that all the previous posts are attacking Abhisit rather than defending the current government. Are Abhisit's comments too close to the bone?

Wake up buddy... in his time... economy was no good... n he was lucky enough to not to face the flood trouble... otherwise the whole thailand would be under water...

The only thing good about him is that he stole my name as his nickname...

[whybother]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

Defense for what?

It's interesting that all the previous posts are attacking Abhisit rather than defending the current government. Are Abhisit's comments too close to the bone?

Wake up buddy... in his time... economy was no good... n he was lucky enough to not to face the flood trouble... otherwise the whole thailand would be under water...

The only thing good about him is that he stole my name as his nickname...

In his time, the global economy was no good. Thailand's was good by comparison.

[bigbamboo]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

Defense for what?

It's interesting that all the previous posts are attacking Abhisit rather than defending the current government. Are Abhisit's comments too close to the bone?

Wake up buddy... in his time... economy was no good... n he was lucky enough to not to face the flood trouble... otherwise the whole thailand would be under water...

The only thing good about him is that he stole my name as his nickname...

In his time, the global economy was no good. Thailand's was good by comparison.

I always try to be fair and so it is wrong to accuse Abhisit's government of poor economic management in his time in office. Did his Financial Minister not win a very prestigious international award for his handling of the economy in very difficult times?

[ralphlsasser]

No wonder the people voted "wonder boy" out of office. He doesn't have a clue. He's recomending what Yingluck should do. If he had been any good, HE should have done what he's telling her to do. He's a "Bangkok elite joke." He needs to go back to England because he's ran his course here.

He spent his entire time in office, doing the bidding of the army brass. That is why he was chosen. He never represented the people, nor did he care about their plight. He put on a good show, but was not in possession of any power, nor did he have any real desire to see any real change in Thailand. It was always about maintaining the power elite, so yes, you are right about him representing the Bangkok elite.

I might add, I'm not sure, but I heard he was "installed" rather than being "voted" into office after the coupe.

[whybother]

No wonder the people voted "wonder boy" out of office. He doesn't have a clue. He's recomending what Yingluck should do. If he had been any good, HE should have done what he's telling her to do. He's a "Bangkok elite joke." He needs to go back to England because he's ran his course here.

He spent his entire time in office, doing the bidding of the army brass. That is why he was chosen. He never represented the people, nor did he care about their plight. He put on a good show, but was not in possession of any power, nor did he have any real desire to see any real change in Thailand. It was always about maintaining the power elite, so yes, you are right about him representing the Bangkok elite.

I might add, I'm not sure, but I heard he was "installed" rather than being "voted" into office after the coupe.

You heard wrong.

btw ... which coup?

[geriatrickid]

I always try to be fair and so it is wrong to accuse Abhisit's government of poor economic management in his time in office. Did his Financial Minister not win a very prestigious international award for his handling of the economy in very difficult times?

No. The Finance Minister won an award from a low circulation magazine"Banker" that has been played up and repeatedly described as "prestigious" when it was nothing of the sort. People Magazine awarded Bradley Cooper the sexiest man alive award for 2011. Does this mean that he is?

The Finance Minister wasn't in office very long to leave a large imprint or a long term legacy save for the legacy of spending obligations. He set out budgets that maintained the large drain on the budget in favour of the bloated military. I am always surprised by the people in TVF that embrace the man on the presumption that he was some sort of responsible fiscal conservative. Under Minister Korn, all sorts of large public infrastructures projects were started without any apparent concern for oversight or measures to prevent or control corruption in the awarding and management of the projects. Also suprising is that a large amount was supposedly devoted to irrigation and water management, yet, there really isn't much to show for it, although the current government gets the blame. I am also surprised that the usual TVFers that blame Wall Street and the international banking community for the financial mess and spew hatred for these people, find Mr. Korn, the ex-JP Morgan fonctionnaire, to be a quasi saint, untainted by the industry they loathe. I believe he owed his job to the fact that he was a former classmate of Mr. Abhisit and really was not qualified for the position, which also is puzzling considering the fact that none of the people bashing ministers in the PTP cabinet on their respective qualifications ever acknowledge Mr. Korn's skillset.

[tlansford]

No wonder the people voted "wonder boy" out of office. He doesn't have a clue. He's recomending what Yingluck should do. If he had been any good, HE should have done what he's telling her to do. He's a "Bangkok elite joke." He needs to go back to England because he's ran his course here.

He spent his entire time in office, doing the bidding of the army brass. That is why he was chosen. He never represented the people, nor did he care about their plight. He put on a good show, but was not in possession of any power, nor did he have any real desire to see any real change in Thailand. It was always about maintaining the power elite, so yes, you are right about him representing the Bangkok elite.

I might add, I'm not sure, but I heard he was "installed" rather than being "voted" into office after the coupe.

You heard wrong.

btw ... which coup?

I believe that would have been his installation after the judicial coup which was needed after he and his party failed in the post-military-coup elections.

And "installed" is a good word choice.

More coffee...

[whybother]

I believe that would have been his installation after the judicial coup which was needed after he and his party failed in the post-military-coup elections.

And "installed" is a good word choice.

More coffee...

So that would mean that Yingluck was installed as PM too, wouldn't it?

[whybother]

No. The Finance Minister won an award from a low circulation magazine"Banker" that has been played up and repeatedly described as "prestigious" when it was nothing of the sort. People Magazine awarded Bradley Cooper the sexiest man alive award for 2011. Does this mean that he is?

The Finance Minister wasn't in office very long to leave a large imprint or a long term legacy save for the legacy of spending obligations. He set out budgets that maintained the large drain on the budget in favour of the bloated military. I am always surprised by the people in TVF that embrace the man on the presumption that he was some sort of responsible fiscal conservative. Under Minister Korn, all sorts of large public infrastructures projects were started without any apparent concern for oversight or measures to prevent or control corruption in the awarding and management of the projects. Also suprising is that a large amount was supposedly devoted to irrigation and water management, yet, there really isn't much to show for it, although the current government gets the blame. I am also surprised that the usual TVFers that blame Wall Street and the international banking community for the financial mess and spew hatred for these people, find Mr. Korn, the ex-JP Morgan fonctionnaire, to be a quasi saint, untainted by the industry they loathe. I believe he owed his job to the fact that he was a former classmate of Mr. Abhisit and really was not qualified for the position, which also is puzzling considering the fact that none of the people bashing ministers in the PTP cabinet on their respective qualifications ever acknowledge Mr. Korn's skillset.

If Korn is not qualified to be Finance Minister, then how would anyone be qualified?

[geriatrickid]

I believe that would have been his installation after the judicial coup which was needed after he and his party failed in the post-military-coup elections.

And "installed" is a good word choice.

More coffee...

So that would mean that Yingluck was installed as PM too, wouldn't it?

You may be unaware, but the PTP and its candidated for the PM position won a plurality of seats in an election in 2011. The decisive win in the election, meant that Madame Yingluck and the PTP were selected by the people of Thailand to govern the nation. The PTP received its mandate from the electorate. Had the people not agreed with the PTP, nor the selection of Madame Yingluck as PM candidate, they would have voted for another political party and its designated PM candidate.

To the best of my knowledge, Mr. Abhisit and his party never received such a mandate as a result of a general election.

Trust this provides you with the necessary background.

[whybother]

I believe that would have been his installation after the judicial coup which was needed after he and his party failed in the post-military-coup elections.

And "installed" is a good word choice.

More coffee...

So that would mean that Yingluck was installed as PM too, wouldn't it?

You may be unaware, but the PTP and its candidated for the PM position won a plurality of seats in an election in 2011. The decisive win in the election, meant that Madame Yingluck and the PTP were selected by the people of Thailand to govern the nation. The PTP received its mandate from the electorate. Had the people not agreed with the PTP, nor the selection of Madame Yingluck as PM candidate, they would have voted for another political party and its designated PM candidate.

To the best of my knowledge, Mr. Abhisit and his party never received such a mandate as a result of a general election.

Trust this provides you with the necessary background.

Oh ... ok, that would mean that Thaksin (first time), Samak and Somchai were installed then, seeing as they needed coalitions to form government.

[tlansford]

I believe that would have been his installation after the judicial coup which was needed after he and his party failed in the post-military-coup elections.

And "installed" is a good word choice.

More coffee...

So that would mean that Yingluck was installed as PM too, wouldn't it?

You may be unaware, but the PTP and its candidated for the PM position won a plurality of seats in an election in 2011. The decisive win in the election, meant that Madame Yingluck and the PTP were selected by the people of Thailand to govern the nation. The PTP received its mandate from the electorate. Had the people not agreed with the PTP, nor the selection of Madame Yingluck as PM candidate, they would have voted for another political party and its designated PM candidate.

To the best of my knowledge, Mr. Abhisit and his party never received such a mandate as a result of a general election.

Trust this provides you with the necessary background.

actually, they won a majority of the seats - by anyone's definition - even whybother's

[geriatrickid]

No. The Finance Minister won an award from a low circulation magazine"Banker" that has been played up and repeatedly described as "prestigious" when it was nothing of the sort. People Magazine awarded Bradley Cooper the sexiest man alive award for 2011. Does this mean that he is?

The Finance Minister wasn't in office very long to leave a large imprint or a long term legacy save for the legacy of spending obligations. He set out budgets that maintained the large drain on the budget in favour of the bloated military. I am always surprised by the people in TVF that embrace the man on the presumption that he was some sort of responsible fiscal conservative. Under Minister Korn, all sorts of large public infrastructures projects were started without any apparent concern for oversight or measures to prevent or control corruption in the awarding and management of the projects. Also suprising is that a large amount was supposedly devoted to irrigation and water management, yet, there really isn't much to show for it, although the current government gets the blame. I am also surprised that the usual TVFers that blame Wall Street and the international banking community for the financial mess and spew hatred for these people, find Mr. Korn, the ex-JP Morgan fonctionnaire, to be a quasi saint, untainted by the industry they loathe. I believe he owed his job to the fact that he was a former classmate of Mr. Abhisit and really was not qualified for the position, which also is puzzling considering the fact that none of the people bashing ministers in the PTP cabinet on their respective qualifications ever acknowledge Mr. Korn's skillset.

If Korn is not qualified to be Finance Minister, then how would anyone be qualified?

Thirachai Phuwanatnaranuban the current finance minister is eminently more qualified. Have you looked at his education and work experience? He is what a finance minister should be;

- Solid education in terms of understanding accounting and financial oversight,. Chartered accountants may not be as sexy as stock traders, but they are usually not as fast and loose with money and understand the concept of budgets and debt management.

- Extensive work experience; Started early as a CA gaining international experience; 1977-2003 gained extensive experience during his time at the Bank of Thailand culminating to his rise to deputy governor in 2003. During that time he built up an extensive series of international relationships and gained an integral understanding of government spending characteristics.; 2003- 2011 Secretary-General of the Securities and Exchange Commission of Thailand and Chairman of the ASEAN Capital Markets Forum (ACMF). If you are looking for prestige and international respect look no further than this man. Note too the period when he served. He was able to plot an apolitical path during an era that saw multiple political amd military factions in office.

Sorry, but one cannot compare Mr. Korn with his limited monoline investment experience to the current finance minister a respected senior banker with a lengthy work history directly related to his portfolio. You want prestige? Then chairman of the ACMF carries more weight than the publicity stunt of a low circulation UK focused magazine.

[tlansford]

I believe that would have been his installation after the judicial coup which was needed after he and his party failed in the post-military-coup elections.

And "installed" is a good word choice.

More coffee...

So that would mean that Yingluck was installed as PM too, wouldn't it?

You may be unaware, but the PTP and its candidated for the PM position won a plurality of seats in an election in 2011. The decisive win in the election, meant that Madame Yingluck and the PTP were selected by the people of Thailand to govern the nation. The PTP received its mandate from the electorate. Had the people not agreed with the PTP, nor the selection of Madame Yingluck as PM candidate, they would have voted for another political party and its designated PM candidate.

To the best of my knowledge, Mr. Abhisit and his party never received such a mandate as a result of a general election.

Trust this provides you with the necessary background.

Oh ... ok, that would mean that Thaksin (first time), Samak and Somchai were installed then, seeing as they needed coalitions to form government.

you are so funny - move the goal posts yourself and you're still wrong...

[whybother]

Oh ... ok, that would mean that Thaksin (first time), Samak and Somchai were installed then, seeing as they needed coalitions to form government.

you are so funny - move the goal posts yourself and you're still wrong...

All of them were elected MPs and elected PM. All of them were elected PM through wheeling and dealing.

The PTP got enough elected MPs to form government. Yingluck was "installed" as PM by her brother and her brother's money.

[whybother]

Thirachai Phuwanatnaranuban the current finance minister is eminently more qualified. Have you looked at his education and work experience? He is what a finance minister should be;

- Solid education in terms of understanding accounting and financial oversight,. Chartered accountants may not be as sexy as stock traders, but they are usually not as fast and loose with money and understand the concept of budgets and debt management.

- Extensive work experience; Started early as a CA gaining international experience; 1977-2003 gained extensive experience during his time at the Bank of Thailand culminating to his rise to deputy governor in 2003. During that time he built up an extensive series of international relationships and gained an integral understanding of government spending characteristics.; 2003- 2011 Secretary-General of the Securities and Exchange Commission of Thailand and Chairman of the ASEAN Capital Markets Forum (ACMF). If you are looking for prestige and international respect look no further than this man. Note too the period when he served. He was able to plot an apolitical path during an era that saw multiple political amd military factions in office.

Sorry, but one cannot compare Mr. Korn with his limited monoline investment experience to the current finance minister a respected senior banker with a lengthy work history directly related to his portfolio. You want prestige? Then chairman of the ACMF carries more weight than the publicity stunt of a low circulation UK focused magazine.

A "book keeper" is "eminently more qualified" than an investment banker to run the finances of a country?

[koosdeboer]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

no mention of Thaksin in the title of the article...

Let's hope we're lucky and the thread doesn't go down the usual "ignorant red buffalo vote-selling terrorists burning BKK in support of the Dubai-devil-puppeteer-paymaster and his air-head clone incompetent sister PM with her cronies / band of criminal red (Maoist) thieving (scumbag) vote-buying thugs" route...

Double standards. Attacking yingluck not ok, attacking abhisit ok.

[geriatrickid]

Thirachai Phuwanatnaranuban the current finance minister is eminently more qualified. Have you looked at his education and work experience? He is what a finance minister should be;

- Solid education in terms of understanding accounting and financial oversight,. Chartered accountants may not be as sexy as stock traders, but they are usually not as fast and loose with money and understand the concept of budgets and debt management.

- Extensive work experience; Started early as a CA gaining international experience; 1977-2003 gained extensive experience during his time at the Bank of Thailand culminating to his rise to deputy governor in 2003. During that time he built up an extensive series of international relationships and gained an integral understanding of government spending characteristics.; 2003- 2011 Secretary-General of the Securities and Exchange Commission of Thailand and Chairman of the ASEAN Capital Markets Forum (ACMF). If you are looking for prestige and international respect look no further than this man. Note too the period when he served. He was able to plot an apolitical path during an era that saw multiple political amd military factions in office.

Sorry, but one cannot compare Mr. Korn with his limited monoline investment experience to the current finance minister a respected senior banker with a lengthy work history directly related to his portfolio. You want prestige? Then chairman of the ACMF carries more weight than the publicity stunt of a low circulation UK focused magazine.

A "book keeper" is "eminently more qualified" than an investment banker to run the finances of a country?

If you consider the current finance minister to be a "book keeper" then that speaks volumes about your qualifications to comment. If the intent is to provoke a confrontation, find someone else. It is obvious that your sole goal is to denigrate the current minister, and I will not play with you. I suggest you go to a beer bar and find a suitable farang drinking partner with whom you can play.

[geriatrickid]

The country can rebuild, and yes it's happening at a good pace.

Strangely enough, where are the usual posters coming to his defense?

no mention of Thaksin in the title of the article...

Let's hope we're lucky and the thread doesn't go down the usual "ignorant red buffalo vote-selling terrorists burning BKK in support of the Dubai-devil-puppeteer-paymaster and his air-head clone incompetent sister PM with her cronies / band of criminal red (Maoist) thieving (scumbag) vote-buying thugs" route...

Double standards. Attacking yingluck not ok, attacking abhisit ok.

There is not much to "attack" the former PM Abhisit on in respect to this thread as Mr. Abhisit gives tacit acknowledgement of the strength of the current finance minister's policies and position. Rest assured, that there are many other issues in which to criticize Mr. Abhisit, although such an activity is somewhat pointless as the nation spoke and he was removed as PM when his party was soundly defeated in the election. In plain language, he lost and was relegated to sitting in opposition with an accused murderer as a fellow member of caucus. Perhaps he can exchange pleasantries with the chap.