Thailand analyses impact of US government shutdown

[webfact]

Thailand analyses impact of US government shutdown
By English News



BANGKOK, Oct 2 – Prime Minister Yingluck Shinwatra was assured today that the US government shutdown, which would probably affect the third quarter (Q3) American economy by 0.1 per cent, should ease up soon.

Bank of Thailand Governor Prasarn Trairatvorakul told a government meeting updating the economic situation, chaired by the prime minister, that the conditional US government funding would be short term.

A similar three-week situation in the US in the past cost the country’s economy US$20 billion but the impact was mainly domestic, while the Thai private sector was only slightly affected, the premier was told.

Arkhom Termpittayapaisith, secretary general of the National Economic and Social Development Board (NESDB), told the meeting that signs of global economic recovery started with higher overseas purchasing power from Q4 untill next year.

He outlined three major issues that should be specially monitored: the US Federal Reserve’s slower economic stimulus through quantitative easing, the US government shutdown and economic situation in the European Union.

Ms Yingluck was reportedly concerned that Thai small and medium enterprises (SMEs) would fail to cope with dynamic economic changes and instructed the NESDB collaborate with the Finance Ministry in forming an ad hoc committee to analyse the needs of SME operators and help them adjust to the changing environment.

Wiboonlasana Ruamraksa, Internal Trade Department director general, said prices of consumer products have been closely monitored to ensure fairness to consumers and manufacturers have been asked to maintain the present prices.

Major manufacturers and retail operators are holding events offering reduced prices of more than 2,000 consumer product items until year-end, she said. (MCOT online news)


-- TNA 2013-10-02

[MaxLee]

Thailand analyses impact of US government shutdown

"Thailand will be all right, the rice scheme is going on, the Falang are getting ripped off as usual, and tourism ONLY tourism scams will continue as business usual, Bangkok, only Bangkok is safe from floods at the cost of other provinces, Kids nationwide are getting brainwashed as usual, the education system sucks as usual, smiley smiley thank you, have a nice day

[siampolee]

Bank of Thailand Governor Prasarn Trairatvorakul told a government meeting updating the economic situation, chaired by the prime minister, that the conditional US government funding would be short term.

Would this seem to inform us that the worthy governor of the B.O.T. has a direct line into the White House thus he is able to comment with complete confidence upon the financial affairs of the U.S.A.?

One is led to hope that the opinion and confidence concerning the financial matters of the U.S.A. are of course applied to the financial matters of Thailand, thus we are being told the truth concerning Thailand's true financial status?

[bigbamboo]

I hope that info didn't come personally from Michelle.

Edited October 2, 2013 by bigbamboo

[anon467367354]

Little does she know that the pseudo government shutdown really means nothing and it's pretty much business as usual.

Very little is affected and life goes on as if they were never there in the first place.

technically legally speaking, not one government office is occupied, the whole thing is a farce.

[clockman]

Just aspirations to be not third world!

[MaxLee]

Little does she know that the pseudo government shutdown really means nothing and it's pretty much business as usual.

Very little is affected and life goes on as if they were never there in the first place.

technically legally speaking, not one government office is occupied, the whole thing is a farce.

Wait a minute, dude,... here's a lesson of Governments shutting down:

the PheuThai government also shuts down,....guess what???? it shuts down its own people, it shuts down anything that's related to difference in opinion, online debating, self expression, social compromising, difference in kids' self expression,

the Pheu Thai, its feudal political mafia and its "innocent kids", shuts down social ethic behavior, and listens to nobody or anything else than themselves... Shutdown Thai style

Edited October 2, 2013 by MaxLee

[worgeordie]

Thailand trying to analysis the U.S., when they have not got a clue whats

happening here in their own country !

regards Worgeordie

[Asiantravel]

Using their experience of being able to predict exactly how long the flood crisis would last in Thailand they said that US government shut down would be over in seven days

[RubbaJohnny]

They have a direct hotline to President Palin for up to minute advice on how to solve corruption and Boston Massacree.

How to pay late or not at all and how when its all teets up to deny everything and say it's all fine.

The third world could learn a lot from America on how to allow poor and sick to die with dispatch,spy on allies and creationism that proves the future was created in Monty Negro

[jaltsc]

"He outlined three major issues that should be specially monitored: the US Federal Reserve’s slower economic stimulus through quantitative easing, the US government shutdown and economic situation in the European Union."

To which YL replied: "Screw that sh-t. Will this shut Bloomingdale's down?" Obviously her "degree" wasn't in economics or political science.

[rishi]

A country's government closes down because the country's politicians can't figure out how to govern? - How third-worldish!

[Thai at Heart]

A country's government closes down because the country's politicians can't figure out how to govern? - How third-worldish!

Not a problem ever likely to be faced in Thailand. Closing the government costs the politicians personally in the back pocket in Thailand. They have every incentive to keep this puppy running.....

[123thaibourbon]

breaking away from Angkor in 1238 CE, Sukothai (Dawn of happiness) came into being. about 538 years later, 13 colonies declared independence from Britian. relatively speaking, Thailand is a juvenile nation in the 'Old World'. what is now the US, is an experiment in the 'New World'. a bump in the Dharmsala road..

[webfact]

ECONOMY
Govt keeping close eye on US shutdown
BUSINESS DESK
THE NATION

BANGKOK: -- PRIME MINISTER Yingluck Shinawatra yesterday instructed economic ministries and agencies to closely monitor the US government shutdown, the US quantitative easing and the European economic situation for possible detrimental impacts on Thailand's currency and exports in the rest of this year.

The US shutdown topped the agenda of the economic cabinet meeting. Also attending were the Bank of Thailand, the National Economic and Social Development Board and the Board of Investment.

Government Spokesman Teerat Ratanasevi said Yingluck was concerned about the rapid changes in external factors and their consequences on the economy, particularly on small- and medium-sized enterprises. The NESDB and the Finance Ministry were assigned to form a working group to oversee small and medium enterprises.

Deputy Prime Minister Kittiratt Na-Ranong said after the meeting that exports and foreign exchange rates were crucial issues, as the fourth quarter is normally the high season for Thailand's exports. The country aims to achieve 4-per-cent growth in shipments this year, after managing only 1-per-cent growth in the first eight months.

"External factors and the domestic floods are under our observation," he said.

Most economists see limited direct impact from the US shutdown, which has cut off funding for non-essential federal tasks since Tuesday. The centre of attention now is the US administration's negotiations with the Republicans for an increase in the US$16.7 trillion debt ceiling. Without approval by the middle of this month, the US would default on its debts for the first time in its history.

Under these circumstances, the US Federal Reserve is widely expected to maintain its bond-buying programme at the current rate of $85 billion a month to boost the economy. This will further propel liquidity into emerging markets, and may boost the Thai stock market as well as the dollar/baht exchange rate as in the first four months of this year.

'No irregular movement'

Mathee Supapongse, a senior director of the Bank of Thailand, said the central bank would take a few more days to assess the impacts of the US shutdown on the local economy. No irregular movement of capital has been detected yet, he said.

Ekniti Nitithanprapas, deputy director-general of the Fiscal Policy Office, told a seminar that there is not much concern about the shutdown of US government offices.

"If the shutdown goes on for a month, it should shave just 0.1 percentage point off their GDP [gross domestic product]. It's minimal. And Thailand could see a very minimal impact. If there are any impacts, this should be seen through volatility in global capital markets."

The US will definitely raise |the debt limit, he said, and it is worth monitoring how the global markets will react to that. Rating agencies may once again lower the US sovereign rating, and this will again rattle global markets.

Thailand should be able to cope with market volatility, given the country's economic stability, and its foreign reserves remain much higher than short-term debts, he added.

Yesterday, the Stock Exchange of Thailand Index edged up 0.80 point or 0.06 per cent to 1,408.99, after a 1.81-per-cent gain the previous day. The baht stabilised at 31.29 per dollar yesterday. It lost only 0.5 per cent from the previous closing, chiefly because of the likelihood that the Bank of Thailand would cut the GDP growth forecast from 4.2 per cent.

The Asian Development Bank yesterday cut its forecasts for Thailand and many countries in Asia-Pacific.

Pakorn Peetathawatchai, head of market operations at the SET, said money will flow out of the US in case of default, so stock investors must closely monitor the global situation.


-- The Nation 2013-10-03

[tominbkk]

Spend a little less time worrying about the US and a little more time worrying about your mountains of rotting rice.

[NongKhaiKid]

On the news reports I've seen, especially the business news, there are predictions as to what could happen to the US economy then worldwide if this situation continues.

One thing the experts have overlooked is the fact the shutdown, and the longer it continues, gives the Thai government a heaven sent excuse for all the economic failings here. Yes, it's all America's fault !

[noitom]

Thais are analyzing this US shutdown. The US economic advisers would be eager to know the findings of the Thai experts.

[Thai at Heart]

On the news reports I've seen, especially the business news, there are predictions as to what could happen to the US economy then worldwide if this situation continues.

One thing the experts have overlooked is the fact the shutdown, and the longer it continues, gives the Thai government a heaven sent excuse for all the economic failings here. Yes, it's all America's fault !

Of course. Did the shut down close the customs posts?

[webfact]

Partial US govt shutdown to impact Thailand only slightly
By English News

BANGKOK, OCT 3 - The partial US government shutdown will have only a slight impact on the Thai economy while the US decision on its debt ceiling, scheduled for October 17, should be closely monitored, a senior Finance Ministry official said.

Ekniti Nitithanprapas, deputy director general of the Fiscal Policy Office, said some US state agencies have been temporarily suspended but a shutdown for one month would affect its gross domestic product (GDP) at only 0.1 per cent.

The negative impact should be short term which is different from the situation in 1995 when government shutdown lasted 21 days, he said, adding that investors have predicted the phenomenon while global capital and stock markets have moved higher and the Thai currency has strengthened.

Foreign capital has flowed back into the Asian market, he said.

Mr Ekniti said it was predicted that the US would decide on October 17 to expand its debt ceiling -- a decision that could have an impact on the monetary and stock markets.

"We also have to follow up on the Federal Open Market Committee's meeting late this month on whether the US will slow down its economic stimulus through quantitative easing (QE). It is, however, predicted that the US Federal Reserve would retain QE measures," he said.

The US will eventually revoke QE in the future, resulting to higher interest rate while the Thai government and investors should speed up their investments at the moment, said Mr Ekniti.

Once the government invests in mega infrastructure projects, the private sector will follow suit and Thailand's GDP growth could reach 5.1 per cent next year, he pointed out. This year's GDP growth is projected at only 3.5-4 per cent.

Pakorn Peetathawatchai, Stock Exchange of Thailand executive vice president and head of the SET Corporate Strategy and Finance Division, said the US government shutdown has contributed to volatility among global and Thai bourses and it could have a negative impact on the stock market if the problem is prolonged.

He warned Thai investors against volatility from capital inflows and outflows. (MCOT online news)


-- TNA 2013-10-03

[siampolee]

Pakorn Peetathawatchai, Stock Exchange of Thailand executive vice president and head of the SET Corporate Strategy and Finance Division, said the US government shutdown has contributed to volatility among global and Thai bourses and it could have a negative impact on the stock market if the problem is prolonged.

He warned Thai investors against volatility from capital inflows and outflows. (MCOT online news)

The Stock Exchange or as the locals call it ''The Klong Toey Casino.''

Not a lot different investment wise to one putting ones shirt on a rank outsider in the 2:30: at Royal Ascot

[MaxLee]

Partial US govt shutdown to impact Thailand only slightly

No worries, the Pheuthai or any other future feudal fgovernment party will just stick with China then.... problem solved, Falangland and co. ditched, smiley smiley thank you, see you again next year

[NeverSure]

Let's not misunderstand. The US government and private industry are completely separate. The last report I can find which I posted earlier (2010) the US is the largest importer of Thailand's products.

The government shutdown should have little if any impact on what businesses import or what consumers buy. Out here on main street USA, the government shutdown hasn't been felt. Hell, if DC slipped into the Atlantic we probably wouldn't notice other than the IRS would get off our backs.

[tingtongteesood]

What if PT shut down ? Would anyone even notice ? It isn't like they actually do anything useful for the country is it. They spend their whole time stealing money, trying to change the laws they don't like to bring back big brother and talking out of their asses...I wish they would shut down for a while, maybe the country would improve...

[MaxLee]

What if PT shut down ? Would anyone even notice ? It isn't like they actually do anything useful for the country is it. They spend their whole time stealing money, trying to change the laws they don't like to bring back big brother and talking out of their asses...I wish they would shut down for a while, maybe the country would improve...

If Pheu Thai only Pheu Thai shuts down, there's gonna be riots and mobs and only mobs, greed and disparity and tanks and guns and violence in the entire Nation, meaning Thailand will shut itself down....

Edited October 3, 2013 by MaxLee

[wileycoyote]

Marginal impact !

[Thai at Heart]

Let's not misunderstand. The US government and private industry are completely separate. The last report I can find which I posted earlier (2010) the US is the largest importer of Thailand's products.

The government shutdown should have little if any impact on what businesses import or what consumers buy. Out here on main street USA, the government shutdown hasn't been felt. Hell, if DC slipped into the Atlantic we probably wouldn't notice other than the IRS would get off our backs.

Not very easy to ship anything if a federal agency is needed in the process though... And it's closed

[outsider]

Analyse first what you see in the mirror, I say.

[gemini81]

this place is incapable of analyzing the rothchilds, rockefellers, zionists, IMF, fema camps, the NSA- I don't think they have a clue. I mean, can't even solve controllable floods and even wants a seat in the UN.

Someone should inform him when they kill the dollar (it collapsed already in 2008) it will be anything but a great world economy. This man probably doesn't even know. The FED has no reserve and the USA is in over their head in excess of 16 trillion.

Pheua Thai: please take note. Tits up, please!

Edited October 3, 2013 by gemini81

[sadhukar]

this place is incapable of analyzing the rothchilds, rockefellers, zionists, IMF, fema camps, the NSA- I don't think they have a clue. I mean, can't even solve controllable floods and even wants a seat in the UN.

Someone should inform him when they kill the dollar (it collapsed already in 2008) it will be anything but a great world economy. This man probably doesn't even know. The FED has no reserve and the USA is in over their head in excess of 16 trillion.

Pheua Thai: please take note. Tits up, please!

Thailand DOES have a seat in the UN