Australian non tax resident- non-financial issues.

[webfact]

Thai economy faces slowdown
NAKARIN SRILERT
THE NATION

BANGKOK: -- Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong has conceded that China's economic slowdown could have a negative impact on Thailand's economy, and is expecting at least three major economic agencies to revise down Thailand's forecasted growth this year.

However, Kittiratt said that although China's central bank had admitted to facing the country's worst cash crunch in over a decade, the economic giant would remain Thailand's major trading partner and was still expected to register higher growth rates than many other countries - including Thailand.

The People's Bank of China has provided liquidity to some financial institutions to stabilise money-market rates and will use short-term liquidity operations and existing lending-facility tools to ensure steady markets, Bloomberg quoted the central bank as saying on Tuesday.

However, Bloomberg said Chinese stocks fell to a four-year low yesterday as the central bank's pledge to stabilise money markets failed to ease concerns that elevated funding costs will curb economic growth.

"Lingering concerns over China's economic slowdown clouded market sentiment," Bloomberg quoted Navarat Kaewpratarn, a senior marketing official at Future Agri Trade Co, as saying.

China and other global economic uncertainties could pressure the Fiscal Policy Office, the National Economic and Social Development Board and Bank of Thailand to revise down their growth estimates for Thailand this year, Kittiratt said.

He added that there was now much fluctuation in the capital markets after Federal Reserve chairman Ben S Bernanke commented on the possibility of paring bond purchases.

However, such likely US economic stimulus could positively impact the economy in the long-term as high global liquidity would bring with it volatile global market speculation, he said.

"I have coordinated with the Securities and Exchange Commission and the Stock Exchange of Thailand and understand that most investors in our stock market have not made investments on borrowed capital. Therefore, there may not be much concern over declining stock prices, given their satisfactory performance," Kittiratt |said.


-- The Nation 2013-06-27

[i claudius]

and still the pound is going down again

[belg]

maybe start to sell ALL the rice

in the scam before putting more tax payers money in a new scam ?

some openly G2G export, but those numbers have to kept secret...

and where is the 2 millions of ton of rice dissapear ?

[carib102]

and still the pound is going down again

More the result of the Bank of England announcing deep spending cuts than anything Thailand is doing. On the other hand, the USD is holding up quite well and even rising a bit off the 31.00 level. Can't wait to see what happens when the U.S. finally starts to taper instead of just talking about the possibility of tapering.

[baboon]

and still the pound is going down again:(

The Pound. Available at joke shops everywhere...

[yoshiwara]

The influence of China is both direct and indirect. Indirectly Japanese car manufacturers have committed to production of autos in Thailand precisely because Thailand is not China with the nationalist fall-out. Directly, Thailand is an exporter of soft commodities and unlike Australia with the export of metal ores, there is a sustained demand for imported foods particularly with the internal food scares. The pity is the Thai government shooting in their own foot with the rice price guarantee pledging system which messes up exports and lets in competitors. If the government continues to retreat from competitive policies in favour of subsidies and corruption/skimming the pressure will increase. The call is whether one buys the Thailand story and goes long on stocks from here.

[Anon999]

and still the pound is going down again:(

The Pound. Available at joke shops everywhere...

For your information the FX rates on last trading day of:

March £/Baht 44.50. April 45.40, May 46.10, Today 47.71

March $/Baht 29.27, April 29.25, May 30.38, Today 31.14

March Euro/Baht 37.53. April 38.38, May 39.42, Today 40.56

The £ has virtually retained it's increase in parallel with the US$ and the euro.

[CIHUAHUA]

When the Baht was 35-40 per USD I spent more. Funny, I guess I can't overlook a good deal.

[PattayaPhom]

and still the pound is going down again

Whats that to do with the Thai economy......probably something to do with the over inlated aid budget that has just been increased and more cutbacks to welfare etc.

[davejones]

and still the pound is going down again:(

The Pound. Available at joke shops everywhere...

For your information the FX rates on last trading day of:

March £/Baht 44.50. April 45.40, May 46.10, Today 47.71

March $/Baht 29.27, April 29.25, May 30.38, Today 31.14

March Euro/Baht 37.53. April 38.38, May 39.42, Today 40.56

The £ has virtually retained it's increase in parallel with the US$ and the euro.

And you get more baht for your £GBP than you did when I first move to Thailand just over 3 years ago. What we see are mostly currency fluctuations, which is completely normal.

[davejones]

and still the pound is going down again

Still going down since when, and against what currency? You need to be a bit more specific, as what you say is almost meaningless. Still going down from 5 mins ago, or yesterday, or what? And why the sad face? The GBP losing value is good news for many people.

[NeverSure]

The topic is about Thailand's slowdown. No offense meant, but I read somewhere yesterday that Samsung, the world's #1 smart phone has signed a deal to build a huge US$2 billion plant in Vietnam. Ground has broken. Oh, here it is.

Right now they make a lot of those phones in Korat. But wages in Vietnam are only 1/3 what they are in Thailand, given the new minimum wage.

Speaking of slowdowns, I don't think Thailand has heard the last of the new minimum wage considering that, for instance, Burma's wages are 1/6 of what Thailand's are, and they are open for business with about 57 million people of their own to find jobs for.