Thailand: Looming economic problems may cause political conflicts to end

[webfact]

Looming economic problems may cause political conflicts to end

BANGKOK, 9 April 2014 (NNT) - The Former Finance Minister says that as Thailand’s economy might be heading to a downwards spiral, it may be a powerful reason to convince people from all sides to end their political disputes in order to put the country back together.

Former Finance Minister Thirachai Phuvanatnaranubala stated that the prolonged political protests have greatly impaired the confidence of foreign investors in Thailand. As a result, it will also reduce consumer spending and the purchasing power of the Thai people.

Needless to say, these reasons alone would eventually affect the country’s economic stability. He also mentioned that even though many political court cases would be finalized soon, he is still unsure whether the political tensions will subside.

Thirachai voiced concern that if the political conflicts cannot end within the first six months, there is a possibility that Thailand will face an economic crisis. On the other hand, if the problems are resolved, then it would pave the way for economic recovery.


-- NNT 2014-04-09

[NongKhaiKid]

Wishful thinking I would suggest as both sides are so entrenched that ' victory ' is the only goal and other problems will be sidelined until someone comes out on top. By then of course irreparable damage will have been done but what the hell as someone will be rejoicing in ' we won '.

[PatOngo]

Looming economic problems may cause political conflicts to end

Very good to see a solution has found Thailand.

[bigbamboo]

Thirichai talks as if the politicians give a toss about anyone but themselves.

[nong38]

What economic downturn can that be then, all that matters is control of the right budgets. We will overcome, we will not accept defeat, we are the real Thailand ask the people and dont forget the rice farmers, now back to the rally!

[WoopyDoo]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

[huanga]

Hard to buy into his solution to end the current political crisis. These "zooticians" are fighting for power because it gives them the right to bleed this country dry. Even after they achieve their goals and they come to find out the country is already in economical crisis, it won't matter. They will just find some ways to squeeze some more and to bleed it drier. They are all just for their own selfish end no matter the means are.

It's time for the silent majority of Thais to stand up and just say no to this zoo-politics. If there is any Thai who still loves his or her mother country, he or she should get up and say No to the PTP and No to the Democrats! Biggest two-faced culprits and liars in modern Thai history! And take the biased media together with them too to the garbage dump!

[SamMunich]

Sure enough, many of the investment projects are in a holding pattern, just as much of the general business.

Problem is, there is no compromise possible in this issue. It is either Taksin & Co. leave or Suthep & Co leave, as simple as that. If you leave even a tiny bit of space to Taksin, in no time will he be back in full swing. Suthep knows it, Bangkok knows it, most of Thailand knows it. So even though we all didn't expect it to be so drawn out, we have to endure it to the end, else anything up to now was good for nothing.

But it is about time the anti-govt people try to convince the normal red shirts, that the future is not at the side of the corrupt and maffia-style leaders of the red shirts, nor can they expect any money from them any more.

[tullynagardy]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

Whilst you are undoubtedly a troll (talk of winning etc is just silly) I feel obliged to point out some facts.

In 2012 Thailands economic growth was 6.5% and had sat at similar levels throughout Yinglucks brief administration. In parts of Issan the economy has grown by a staggering 40% in recent years. http://www.reuters.com/article/2013/06/16/us-thailand-northeast-idUSBRE95F00H20130616

Solely due to the protests this is now slashed to 3% http://www.businessweek.com/ap/2014-04-07/world-bank-slashes-thai-growth-forecast-on-unrest and thats being kind IMHO.

A PDRC "win" (ie an unelected peoples council) would dry up what little FDI Thailand has left as investors stay clear of the unknown. It would acccelerate the spiral, not lessen it. The protests are the reason for the decline, make no mistake about it.

Yingluck is a poor PM, the rice subsidy is a joke, but to say anything other that the economy has been booming under her is a lie.

[winstonc]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

Whilst you are undoubtedly a troll (talk of winning etc is just silly) I feel obliged to point out some facts.

In 2012 Thailands economic growth was 6.5% and had sat at similar levels throughout Yinglucks brief administration. In parts of Issan the economy has grown by a staggering 40% in recent years. http://www.reuters.com/article/2013/06/16/us-thailand-northeast-idUSBRE95F00H20130616

Solely due to the protests this is now slashed to 3% http://www.businessweek.com/ap/2014-04-07/world-bank-slashes-thai-growth-forecast-on-unrest and thats being kind IMHO.

A PDRC "win" (ie an unelected peoples council) would dry up what little FDI Thailand has left as investors stay clear of the unknown. It would acccelerate the spiral, not lessen it. The protests are the reason for the decline, make no mistake about it.

Yingluck is a poor PM, the rice subsidy is a joke, but to say anything other that the economy has been booming under her is a lie.

you only have to put a tesco lotus in every province in issan and 40% is easy to achieve in part because of poverty wages..not really a barometer to compare with ..

[tullynagardy]

you only have to put a tesco lotus in every province in issan and 40% is easy to achieve in part because of poverty wages..not really a barometer to compare with ..

Cutting economic analysis, from the heart of Soi Cowboy, thankyou correspodent Winstonc

[marcusd]

Being my cynical self this is bloody obvious! But as I run a business here where I need to transfer large sums of cash FROM overseas to Thailand this instability works to my favour.

Thailand will learn a bit then go back to being normal - ignoring the laws and agreements it has in place with other countries.

AN EXAMPLE - i was showing a friend today how I want to set up a BRANCH OFFICE of my Australian company under the Free Trade agreement and how NO government department is acknowledging such a thing exists. It would be greatly beneficial to me and my Thai staff.

Another thing I showed him is that there should be no tax or duties on Australian WINE or Bee or Spirits.

YEAH RIGHT! Taxed to high heavens.

So that is what I mean by IGNORING things, so serves this nation right. They must learn to adhere to LAWS and agreements or foreigners will go. This is not the time of Kings of old when slaves were here.

[marcusd]

Hard to buy into his solution to end the current political crisis. These "zooticians" are fighting for power because it gives them the right to bleed this country dry. Even after they achieve their goals and they come to find out the country is already in economical crisis, it won't matter. They will just find some ways to squeeze some more and to bleed it drier. They are all just for their own selfish end no matter the means are.

It's time for the silent majority of Thais to stand up and just say no to this zoo-politics. If there is any Thai who still loves his or her mother country, he or she should get up and say No to the PTP and No to the Democrats! Biggest two-faced culprits and liars in modern Thai history! And take the biased media together with them too to the garbage dump!

They are busy reading Yingluck's Facebook posts and that of their friends.

[The Deerhunter]

Well, if the current administration "repatriated" all the moneys they misdirected out of the treasury over the last 2-3 years, that would certainly put the accounts back into the black and perhaps pay ot the farmers too.

[Chupup]

Talk to the Reds first.....................

[worgeordie]

Think its going to have to spiral and hit the bottom,for MPs

on both sides to realize what they have done to the country,

and hopefully come together and fix all the problems Thailand

has,they say they love the country,but this does not look like

love to me,its all about self interest.

regards Worgeordie

[huanga]

Well, if the current administration "repatriated" all the moneys they misdirected out of the treasury over the last 2-3 years, that would certainly put the accounts back into the black and perhaps pay ot the farmers too.

Instead of doing that, Democratic Party should just nominate 20 PTP politicians that they would like to see out of politics for the next 10 years and vice versa. Then I think Thailand can then move on and moved backed into black!

Let the tally start:

PTP: Thaksin, Yingluck, ...

Democrates: Abhisit, Suthep...

Edited April 9, 2014 by huanga

[huanga]

Think its going to have to spiral and hit the bottom,for MPs

on both sides to realize what they have done to the country,

and hopefully come together and fix all the problems Thailand

has,they say they love the country,but this does not look like

love to me,its all about self interest.

regards Worgeordie

+1

Being here for too long, I FIRMLY believe Thais are more ready to pay lip service than putting their words into action.

In the Thai National Anthem, it says that Thais are peace loving people....

Thais are always preaching us about the word "grengjai"...

Thailand is touted as the Land of Smiles......

But in reality, for those who have been here for an extended period of time, will concur that the reality is definitely very different than what their lips utter.........

Edited April 9, 2014 by huanga

[tezzainoz]

Have you ever thought

if they passed a law that any one who stops Free speech in Thailand gat an automatic 2 years in hard labour

That is and party is allowed to canvas in any area

How long would it be before elections would be fair

So why have they not done this

PTP and Red shirts just not want Political Conflicts to end because

Their great leader must win or he will destroy Thailand

[3NUMBAS]

it will fall on deaf ears as they will be squabbling as the town crumbles into dust, sutheps crazyness knows no bounds ,the BKK elites have enough cash so they dont starve but others will

[ikke]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

I assume you must be a big investor in Thai economics ? Or you drink or smoked something strong.

Many companies stopt all investments the moment Suthep started his rallies.

I invested a lot in Thailand and employ 150 staff , but if Suthep wins and het his fascist government installed , I might move the company to a neighbouring country, along with many other companies .

With your Suthep and his fascist understanding of a democraty, Thailand will always go in the down spiral.

[winstonc]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

I assume you must be a big investor in Thai economics ? Or you drink or smoked something strong.

Many companies stopt all investments the moment Suthep started his rallies.

I invested a lot in Thailand and employ 150 staff , but if Suthep wins and het his fascist government installed , I might move the company to a neighbouring country, along with many other companies .

With your Suthep and his fascist understanding of a democraty, Thailand will always go in the down spiral.

see ya then ...go to laos..you will love it no-one stopping you..unless its another large porky spewing from those pretty little lips of yours...you can see the writing on the wall so you got time to pack your speedos..dont be a stranger..pipkins..

[winstonc]

it will fall on deaf ears as they will be squabbling as the town crumbles into dust, sutheps crazyness knows no bounds ,the BKK elites have enough cash so they dont starve but others will

crazyness do you know what this government are trying to do ..and you look at one man...one more point no-one has ever starved over here...

[ratcatcher]

It seems the automatic foul language program censor is deleting any words beginning with <deleted>........

and hope <deleted>lly come together-----------------------------that the <deleted>ture is

hopef*lly f*ture

Rather strange?

[Hulkster]

This is a way for the yellow shirts to surrender without losing face. The protests have only marginalised the Democrat/yellow shirt minority even further.

[Local Drunk]

It seems the automatic foul language program censor is deleting any words beginning with <deleted>........

and hope <deleted>lly come together-----------------------------that the <deleted>ture is

hopef*lly f*ture

Rather strange?

<deleted>fowl mouthed<deleted>post

Edited and gutted for any particular reason or bias.

Edited April 9, 2014 by Local Drunk

[Scarpolo]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

Whilst you are undoubtedly a troll (talk of winning etc is just silly) I feel obliged to point out some facts.

In 2012 Thailands economic growth was 6.5% and had sat at similar levels throughout Yinglucks brief administration. In parts of Issan the economy has grown by a staggering 40% in recent years. http://www.reuters.com/article/2013/06/16/us-thailand-northeast-idUSBRE95F00H20130616

Solely due to the protests this is now slashed to 3% http://www.businessweek.com/ap/2014-04-07/world-bank-slashes-thai-growth-forecast-on-unrest and thats being kind IMHO.

A PDRC "win" (ie an unelected peoples council) would dry up what little FDI Thailand has left as investors stay clear of the unknown. It would acccelerate the spiral, not lessen it. The protests are the reason for the decline, make no mistake about it.

Yingluck is a poor PM, the rice subsidy is a joke, but to say anything other that the economy has been booming under her is a lie.

Nobody is coming to rescue Thailand.

a Depression, unknown to Thai's looms now,

all those cars bought with balloon notes and houses, will soon go unpaid, and banks will fail

when banks fail, street violence will become, food riots

Thailand is not paradise, and its unwelcoming position to Americans, backfiring in their faces now

[Scarpolo]

Being my cynical self this is bloody obvious! But as I run a business here where I need to transfer large sums of cash FROM overseas to Thailand this instability works to my favour.

Thailand will learn a bit then go back to being normal - ignoring the laws and agreements it has in place with other countries.

AN EXAMPLE - i was showing a friend today how I want to set up a BRANCH OFFICE of my Australian company under the Free Trade agreement and how NO government department is acknowledging such a thing exists. It would be greatly beneficial to me and my Thai staff.

Another thing I showed him is that there should be no tax or duties on Australian WINE or Bee or Spirits.

YEAH RIGHT! Taxed to high heavens.

So that is what I mean by IGNORING things, so serves this nation right. They must learn to adhere to LAWS and agreements or foreigners will go. This is not the time of Kings of old when slaves were here.

thats funny,

because, they are still treated like slaves by the wealthy

Thailand does not have a plan,

Chinese banks are their only lifeline, and thats closing

[Scarpolo]

It is the YL administration that have done more damage to the Thai economy than any protest has.

If this sparked an end to the crisis like you say, then surely Thailand is going to continue down that spiral, unless it ends with the PDRC winning.

I assume you must be a big investor in Thai economics ? Or you drink or smoked something strong.

Many companies stopt all investments the moment Suthep started his rallies.

I invested a lot in Thailand and employ 150 staff , but if Suthep wins and het his fascist government installed , I might move the company to a neighbouring country, along with many other companies .

With your Suthep and his fascist understanding of a democraty, Thailand will always go in the down spiral.

All the incemtives appear headed to Laos, designed to strip Thailand of its commerce.

Some parts of Laos are much nicer too, and the weather is more suited to humans

[Scarpolo]

it will fall on deaf ears as they will be squabbling as the town crumbles into dust, sutheps crazyness knows no bounds ,the BKK elites have enough cash so they dont starve but others will

crazyness do you know what this government are trying to do ..and you look at one man...one more point no-one has ever starved over here...

no one ever starved huh,

watch when there is no food in the stores because vendors demand cash, not credit

http://www.thaivisa.com/forum/topic/717377-thai-govt-may-not-have-enough-budget-to-cover-the-years-first-car-buyer-rebates/