Thai Economy further affected

[webfact]

Thai Economy further affected

BANGKOK, 23 May 2014 (NNT) – After the Royal Thai Army’s announcement of a coup late afternoon yesterday (22nd May 2014), the benchmark of the Stock Exchange of Thailand (SET) Index, closed up 0.2 percent to 1,405.21. This was in contrast to its fall of 1.2 percent earlier this week when martial-law was first declared. Analysts are expecting a sell off today.

According to the exchange data, since the May 20th declaration of martial law, overseas investors had pulled US$408 million out of Thai stocks, sending the SET Index benchmark down 0.7 percent this month.

The country's gross domestic product (GDP) had already contracted 0.6 percent in the first quarter compared to the same period last year and the bank further lowered its 2014 growth forecast to 1.3% from 2.2%, amid the political protests. and violence that has resulted in more than two dozen deaths.

Another development that is threatening the country's economic growth is the weakening of Thailand's US$35 billion tourist industry, which contributes 9 percent to the country’s GDP, as many countries in the world have issued warnings for their citizens to exercise a high degree of caution when entering the kingdom.

However after the prolonged political unrest that has seemed to worsen every day, many sides hope that this coup will be the silver lining for Thailand’s resolution of disputes.


-- NNT 2014-05-23

[trogers]

Cancer treatment always weaken the body initially, before the body can recover and strengthen...

[NongKhaiKid]

The coup won't be a silver lining until reason, commonsense, compromise etc exist and what chances ?

[bkkfaranguy]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Cancer treatment always weaken the body initially, before the body can recover and strengthen... alt=violin.gif width=60 height=49>

True but sometimes the cancer treatment kills you or makes you even more sick and you never recover!

[trogers]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Cancer treatment always weaken the body initially, before the body can recover and strengthen... alt=violin.gif width=60 height=49>

True but sometimes the cancer treatment kills you or makes you even more sick and you never recover!

Then your body has reached the stage of terminal cancer - die you don't treat and die if you do as well.

[joshstiles]

Cancer treatment always weaken the body initially, before the body can recover and strengthen...

unfortunately, this ain't cancer treatment and cancer does a lot of killing and many cancer treatments still end in death. I think everyone needs to take a step back and look at what Thailand really has going for it....CORRUPTION....they have done this very well for many many years. What's the best predictor of future events....past events....why do we have a coup now???? 1 + 1 = ?

[leggo]

Cancer treatment always weaken the body initially, before the body can recover and strengthen...

unfortunately, this ain't cancer treatment and cancer does a lot of killing and many cancer treatments still end in death. I think everyone needs to take a step back and look at what Thailand really has going for it....CORRUPTION....they have done this very well for many many years. What's the best predictor of future events....past events....why do we have a coup now???? 1 + 1 = ?

ugh?!

Sent from my i-mobile IQ 2 using Thaivisa Connect Thailand mobile app

[jimbeam1]

Cancer treatment always weaken the body initially, before the body can recover and strengthen...

unfortunately, this ain't cancer treatment and cancer does a lot of killing and many cancer treatments still end in death. I think everyone needs to take a step back and look at what Thailand really has going for it....CORRUPTION....they have done this very well for many many years. What's the best predictor of future events....past events....why do we have a coup now???? 1 + 1 = ?

ugh?!

Sent from my i-mobile IQ 2 using Thaivisa Connect Thailand mobile app

Exactly. What has cancer treatment got to do with the OP.

jb1

[marko kok prong]

Hey ,don't worry Tat is on the case,38 billion tourists expected next year,and that's just repeat buisness.

[deepcell]

Military is good for the hassle that Thailand is facing now, it will reminder the moral and sense for justice of Thai people. And hopefully it will vanish with Taksin's family from the command forever. Maybe another corrupt can take place, but this will be another chapter of Thai history.

[Pralaad]

All this releases are totally useless and baseless.

One states economy worsens , while another few hours prior states economy can not get any worse, while few hours before that economy is unaffected .

One states tourists still coming , while another says loss of all tourism.

Baht hardly moved, tourists or lack of them is the same .

Honda is cutting it's production by 40%, you can bet any money so are all other giants, yet again baht does not move and they still predict positive growth.

[KarenBravo]

Cancer treatment always weaken the body initially, before the body can recover and strengthen...

unfortunately, this ain't cancer treatment and cancer does a lot of killing and many cancer treatments still end in death. I think everyone needs to take a step back and look at what Thailand really has going for it....CORRUPTION....they have done this very well for many many years. What's the best predictor of future events....past events....why do we have a coup now???? 1 + 1 = ?

1+1 = another gang of pigs are impatient to get to the trough?

[choochoo]

non-event peeple! baht to $exchange rate barely moved. Just business as usual.

Yellows close air travel. red shut down bkk, what will the blues do?

[ikke]

Strange , this topic is online since this morning, but only a few response... it shows how much TV posters are in to economics.......

[KevinB]

.......few responses... it shows how much TV posters are in to economics.......

Easy answer ikke - many of the regular TV posters survive on remittances - don't (or can't) work here - get a pension or are living comfortable on their savings which go so much further here. So they are not into the "real economy" - they may actually benefit because of a depreciation in the value of the Baht vs USD and GBP and the Euro. Many of those on TV (based on their posts) actually don't give a twaddle about the average Thai (worker and rural farmer) who has been suffering in the turmoil of the last 6 months (again caused by people who can afford it). More importantly many of the posters current feel that what has happened this week is the best thing that could have happened - they, like many of the Bangkok elite, are blindly obsessed with getting rid of the Thaksin clan. Their low understanding of economics is what shields them from understanding that the last 15 years of Thaksin family rule (or misrule if you believe it) has seen unbelievable growth in the economy and the most impressive record of moving a massive number of the rural poor out of abject poverty (go look at the figures on the Asian Development Bank website). Urban wages have grown in real terms many Thais have moved up the employment ladder - from menial labourer to skilled worker in the large number of light manufacturing establishments (from car parts to flat screen TVs and computer hard drives) that have sprung up under the sound economic policies and investment friendly climate of the last decade. In fact reasonably paid lower level labour opportunities have sucked in workers from Cambodia and Myanmar. Those in business and those working here from teachers to technicians know this to be true - the economy has been reasonably buoyant. Lets see how good this period of Military rule is for the economy - they seem to be off to a flying start but then running down hill at speed is easy - until you trip and stumble.

When finally the electorate is given their right to vote (which will happen) I think most will remember who best served their interests over the last decade and a half, who led this country though its impressive growth spurt. they will also remember who stopped the last election and made their vote worthless and who applauded when the army took over. Shrinking direct foreign investment, as it moves to better, more stable countries, will never come back here to Thailand. The growth which is going to be part of the ASEAN dream is gonna find places with a real democratic Government to settle and flourish. Rule by Generals is not the investment flavour of the 21st century and the sooner they realise it - the better for all Thais even those TV posters who think they have got it good right now.

[tullynagardy]

.......few responses... it shows how much TV posters are in to economics.......

Easy answer ikke - many of the regular TV posters survive on remittances - don't (or can't) work here - get a pension or are living comfortable on their savings which go so much further here. So they are not into the "real economy" - they may actually benefit because of a depreciation in the value of the Baht vs USD and GBP and the Euro. Many of those on TV (based on their posts) actually don't give a twaddle about the average Thai (worker and rural farmer) who has been suffering in the turmoil of the last 6 months (again caused by people who can afford it). More importantly many of the posters current feel that what has happened this week is the best thing that could have happened - they, like many of the Bangkok elite, are blindly obsessed with getting rid of the Thaksin clan. Their low understanding of economics is what shields them from understanding that the last 15 years of Thaksin family rule (or misrule if you believe it) has seen unbelievable growth in the economy and the most impressive record of moving a massive number of the rural poor out of abject poverty (go look at the figures on the Asian Development Bank website).

Fantastic post Kevin.

I still contend many of the people you allude to above do so to try and somehow seem part of this elite rather than the sex pat they are. They want to distance themselves from their Thaskin loving Issan wife.

Nobody who actually works in Thailand, or works regularly in it like myself, is celebrating at the moment. Its very telling when you see guys on here rejoicing about this coup, you instantly know their background!

Edited May 23, 2014 by tullynagardy

[benalibina]

Strange , this topic is online since this morning, but only a few response... it shows how much TV posters are in to economics.......

Your deep and profound analazys is noted. Thanks.

[Pralaad]

.......few responses... it shows how much TV posters are in to economics.......

Easy answer ikke - many of the regular TV posters survive on remittances - don't (or can't) work here - get a pension or are living comfortable on their savings which go so much further here. So they are not into the "real economy" - they may actually benefit because of a depreciation in the value of the Baht vs USD and GBP and the Euro. Many of those on TV (based on their posts) actually don't give a twaddle about the average Thai (worker and rural farmer) who has been suffering in the turmoil of the last 6 months (again caused by people who can afford it). More importantly many of the posters current feel that what has happened this week is the best thing that could have happened - they, like many of the Bangkok elite, are blindly obsessed with getting rid of the Thaksin clan. Their low understanding of economics is what shields them from understanding that the last 15 years of Thaksin family rule (or misrule if you believe it) has seen unbelievable growth in the economy and the most impressive record of moving a massive number of the rural poor out of abject poverty (go look at the figures on the Asian Development Bank website). Urban wages have grown in real terms many Thais have moved up the employment ladder - from menial labourer to skilled worker in the large number of light manufacturing establishments (from car parts to flat screen TVs and computer hard drives) that have sprung up under the sound economic policies and investment friendly climate of the last decade. In fact reasonably paid lower level labour opportunities have sucked in workers from Cambodia and Myanmar. Those in business and those working here from teachers to technicians know this to be true - the economy has been reasonably buoyant. Lets see how good this period of Military rule is for the economy - they seem to be off to a flying start but then running down hill at speed is easy - until you trip and stumble.

When finally the electorate is given their right to vote (which will happen) I think most will remember who best served their interests over the last decade and a half, who led this country though its impressive growth spurt. they will also remember who stopped the last election and made their vote worthless and who applauded when the army took over. Shrinking direct foreign investment, as it moves to better, more stable countries, will never come back here to Thailand. The growth which is going to be part of the ASEAN dream is gonna find places with a real democratic Government to settle and flourish. Rule by Generals is not the investment flavour of the 21st century and the sooner they realise it - the better for all Thais even those TV posters who think they have got it good right now.

That is a nice load of drivel, yet not even 1 single word addressing the OP or any sign of comprehension of "economics"

[joshstiles]

Cancer treatment always weaken the body initially, before the body can recover and strengthen...

unfortunately, this ain't cancer treatment and cancer does a lot of killing and many cancer treatments still end in death. I think everyone needs to take a step back and look at what Thailand really has going for it....CORRUPTION....they have done this very well for many many years. What's the best predictor of future events....past events....why do we have a coup now???? 1 + 1 = ?

1+1 = another gang of pigs are impatient to get to the trough?

!!!!! There ya go....now yer smokin the right weed....you go dog..... I mean thai dog.

[Asiantravel]

.......few responses... it shows how much TV posters are in to economics.......

Easy answer ikke - many of the regular TV posters survive on remittances - don't (or can't) work here - get a pension or are living comfortable on their savings which go so much further here. So they are not into the "real economy" - they may actually benefit because of a depreciation in the value of the Baht vs USD and GBP and the Euro. Many of those on TV (based on their posts) actually don't give a twaddle about the average Thai (worker and rural farmer) who has been suffering in the turmoil of the last 6 months (again caused by people who can afford it). More importantly many of the posters current feel that what has happened this week is the best thing that could have happened - they, like many of the Bangkok elite, are blindly obsessed with getting rid of the Thaksin clan. Their low understanding of economics is what shields them from understanding that the last 15 years of Thaksin family rule (or misrule if you believe it) has seen unbelievable growth in the economy and the most impressive record of moving a massive number of the rural poor out of abject poverty (go look at the figures on the Asian Development Bank website). Urban wages have grown in real terms many Thais have moved up the employment ladder - from menial labourer to skilled worker in the large number of light manufacturing establishments (from car parts to flat screen TVs and computer hard drives) that have sprung up under the sound economic policies and investment friendly climate of the last decade. In fact reasonably paid lower level labour opportunities have sucked in workers from Cambodia and Myanmar. Those in business and those working here from teachers to technicians know this to be true - the economy has been reasonably buoyant. Lets see how good this period of Military rule is for the economy - they seem to be off to a flying start but then running down hill at speed is easy - until you trip and stumble.

When finally the electorate is given their right to vote (which will happen) I think most will remember who best served their interests over the last decade and a half, who led this country though its impressive growth spurt. they will also remember who stopped the last election and made their vote worthless and who applauded when the army took over. Shrinking direct foreign investment, as it moves to better, more stable countries, will never come back here to Thailand. The growth which is going to be part of the ASEAN dream is gonna find places with a real democratic Government to settle and flourish. Rule by Generals is not the investment flavour of the 21st century and the sooner they realise it - the better for all Thais even those TV posters who think they have got it good right now.

That is a nice load of drivel, yet not even 1 single word addressing the OP or any sign of comprehension of "economics"

If you want to call it drivel up to you but it was far more interesting than your post number 11

[Pralaad]

.......few responses... it shows how much TV posters are in to economics.......

Easy answer ikke - many of the regular TV posters survive on remittances - don't (or can't) work here - get a pension or are living comfortable on their savings which go so much further here. So they are not into the "real economy" - they may actually benefit because of a depreciation in the value of the Baht vs USD and GBP and the Euro. Many of those on TV (based on their posts) actually don't give a twaddle about the average Thai (worker and rural farmer) who has been suffering in the turmoil of the last 6 months (again caused by people who can afford it). More importantly many of the posters current feel that what has happened this week is the best thing that could have happened - they, like many of the Bangkok elite, are blindly obsessed with getting rid of the Thaksin clan. Their low understanding of economics is what shields them from understanding that the last 15 years of Thaksin family rule (or misrule if you believe it) has seen unbelievable growth in the economy and the most impressive record of moving a massive number of the rural poor out of abject poverty (go look at the figures on the Asian Development Bank website). Urban wages have grown in real terms many Thais have moved up the employment ladder - from menial labourer to skilled worker in the large number of light manufacturing establishments (from car parts to flat screen TVs and computer hard drives) that have sprung up under the sound economic policies and investment friendly climate of the last decade. In fact reasonably paid lower level labour opportunities have sucked in workers from Cambodia and Myanmar. Those in business and those working here from teachers to technicians know this to be true - the economy has been reasonably buoyant. Lets see how good this period of Military rule is for the economy - they seem to be off to a flying start but then running down hill at speed is easy - until you trip and stumble.

When finally the electorate is given their right to vote (which will happen) I think most will remember who best served their interests over the last decade and a half, who led this country though its impressive growth spurt. they will also remember who stopped the last election and made their vote worthless and who applauded when the army took over. Shrinking direct foreign investment, as it moves to better, more stable countries, will never come back here to Thailand. The growth which is going to be part of the ASEAN dream is gonna find places with a real democratic Government to settle and flourish. Rule by Generals is not the investment flavour of the 21st century and the sooner they realise it - the better for all Thais even those TV posters who think they have got it good right now.

That is a nice load of drivel, yet not even 1 single word addressing the OP or any sign of comprehension of "economics"

If you want to call it drivel up to you but it was far more interesting than your post number 11

If you want interesting, i suggest you read up about economic growth and business cycles, instead of drivel attributing Thailand economy to 1 person.