Post-coup Thailand sees economic slump putting pressure on govt

[webfact]

Post-Coup Thailand Sees Economic Slump Putting Pressure on Junta
by Suttinee Yuvejwattana and Chris Blake

BANGKOK: -- Thailand’s government is under increasing pressure to overhaul the cabinet and bolster the economy as falling exports, eroding consumer confidence and a slump in manufacturing portend one of the region’s slowest expansions.

The finance ministry this week cut its forecasts for exports and gross domestic product growth for a third time this year. Prime Minister Prayuth Chan-Ocha, who seized power in a military coup in May 2014, has said he may reshuffle the cabinet, half comprising military personnel with little experience in their portfolios.

“With the economy in such bad shape, the government is under pressure to do something,” said Kampon Adireksombat, an economist at Tisco Securities Co. in Bangkok.

Full story: http://www.bloomberg.com/news/articles/2015-07-29/post-coup-thailand-sees-economic-slump-putting-pressure-on-junta

-- Bloomberg Business 2015-07-30

[dageurreotype]

and in the event of a serious political shock, the country could quickly spiral into recession

Well that's a 'given', and an expected one ..

[CiaranO]

This what happens when a bunch of generals decide to play at being in charge of a country.

[Usernames]

And matters could become extremely grave if the US imposes sanctions, while Thailand's new best friend, China, has its stock market vaporized and the rest of that country's opaque economy crumbles now that the guys at the top of the Ponzi pyramid have exited the game.

[eeworldwide]

I think it would help matters if they were to impose strict new drinking laws which could hamper tourists enjoyment of one of the world's most popular tourist cities.

And they should also try and bring in new opening hours laws, and make bars and clubs shut earlier.

They should make it complex to know where and when people can drink, and where they can buy their drink from.

All of this will help bolster the tourist industry which will be one of the last remaining areas of large revenue for the country.

[djjamie]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Edited July 30, 2015 by djjamie

[Thailand]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

You crack me up.

If anyone is feeling a little jaded they only have to read your posts and I am sure they would manage at least a smile.

[Linky]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

You crack me up.

If anyone is feeling a little jaded they only have to read your posts and I am sure they would manage at least a smile.

Yes he has been telling all how wonderful the economy is but when oroved wrong he just modifies his tune.

You can tell he is a troll as he makes a post then never responds to any questions.

[Just1Voice]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Please tell us where you buy those wonderful hallucinogenic drugs you take on a daily basis.

[billd766]

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

[djjamie]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Fact - $aus slide is more pronounced than the bah slide against the usd

Fact - economic indicators in Australia are on a % bases sliding more than Thailand indicators

Just think had he not stepped in the economy would have collapsed long ago.

Facts - All economic indicators showed the country was sliding into economic collapse before May 22nd, 2014.

All facts and all I receive in reply instead of intelligent rebuttals proving me wrong is condescension.

It warms my heart because when the poster is attacked instead of the post I win the argument.

[heybruce]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

Did neither of you read this part, or did you not understand it:

"The finance ministry cut its forecast for GDP growth this year to 3 percent, which could be the slowest among developing nations in Asia."

Edited July 30, 2015 by heybruce

[Fat Haggis]

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

No but considering This is Thai visa the article is about Thailand, where we have all chosen to spend our lives discussing the rest of the worlds piss poor economy is a moot point.

Do you personally believe the reports of economists globally, who have track records backing their SME status, with regards to the Thai economy or do you believe the Junta members who are always bigging themselves up, who lack the credentials to even be considered SME's?

The bottom line, the wheels are wobbling big time, and it's the current establishment at the helm, and they know best apparently, forget the shins, it's the Juntas train set and they need to fix the broken parts, as they're the ones being judged!!

[billd766]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

Did neither of you read this part, or did you not understand it:

"The finance ministry cut its forecast for GDP growth this year to 3 percent, which could be the slowest among developing nations in Asia."

Yes I did read that but then to me "could" doesn't mean much. It is the same as saying that it "could" rain tomorrow, or not as the case may be. I "could" win the lottery or not.

Thailand "could" have the slowest growth within developing nations in Asia, or not.

A fairly safe meaningless word.

[billd766]

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

No but considering This is Thai visa the article is about Thailand, where we have all chosen to spend our lives discussing the rest of the worlds piss poor economy is a moot point.

Do you personally believe the reports of economists globally, who have track records backing their SME status, with regards to the Thai economy or do you believe the Junta members who are always bigging themselves up, who lack the credentials to even be considered SME's?

The bottom line, the wheels are wobbling big time, and it's the current establishment at the helm, and they know best apparently, forget the shins, it's the Juntas train set and they need to fix the broken parts, as they're the ones being judged!!

From what I have read of many of the world economists over the past few years some of them are using crystal balls, some are using tarot cards and some are merely guessing. Some, a very few, get it right more often than others.

I can never understand how if these economists and stock market guys are so good at their jobs why there are not all millionaires and billionaires.

[Thailand]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Fact - $aus slide is more pronounced than the bah slide against the usd

Fact - economic indicators in Australia are on a % bases sliding more than Thailand indicators

Just think had he not stepped in the economy would have collapsed long ago.

Facts - All economic indicators showed the country was sliding into economic collapse before May 22nd, 2014.

All facts and all I receive in reply instead of intelligent rebuttals proving me wrong is condescension.

It warms my heart because when the poster is attacked instead of the post I win the argument.

You do know you are quoting and replying to yourself?

[ronwparker]

Everyone in Thailand who has half a brain knows the economy has been suffering for some time-maybe our esteamed unelected PM

Has just woken up !?

[heybruce]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

Did neither of you read this part, or did you not understand it:

"The finance ministry cut its forecast for GDP growth this year to 3 percent, which could be the slowest among developing nations in Asia."

Yes I did read that but then to me "could" doesn't mean much. It is the same as saying that it "could" rain tomorrow, or not as the case may be. I "could" win the lottery or not.

Thailand "could" have the slowest growth within developing nations in Asia, or not.

A fairly safe meaningless word.

Right, it could have the slowest growing economy among developing nations in Asia, or it could have the second or third slowest. There are a lot of developing nations in Asia, and it's a safe bet Thailand is going to come in near the bottom on growth.

[Lupatria]

Post-coup Thailand sees economic slump

No worries here. A huge team of lametta wearing economy and financial experts is already gathering in a posh resort to tackle this problem with article 44.

[MZurf]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

You crack me up.

If anyone is feeling a little jaded they only have to read your posts and I am sure they would manage at least a smile.

Yes he has been telling all how wonderful the economy is but when oroved wrong he just modifies his tune.

You can tell he is a troll as he makes a post then never responds to any questions.

He has my respect and admiration. He is one of the (if not the) most successful trolls ever on TV. To constantly write such inane posts takes a lot of hard work.

[Prbkk]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Fact - $aus slide is more pronounced than the bah slide against the usd

Fact - economic indicators in Australia are on a % bases sliding more than Thailand indicators

Just think had he not stepped in the economy would have collapsed long ago.

Facts - All economic indicators showed the country was sliding into economic collapse before May 22nd, 2014.

All facts and all I receive in reply instead of intelligent rebuttals proving me wrong is condescension.

It warms my heart because when the poster is attacked instead of the post I win the argument.

While you are correct about the AUD, the 'slide' in its value is of major economic value to Australia and the devaluation has been a defacto policy of the past 2 govts as well as the gov of the reserve bank. It is now approaching what most people believe to be fair value relative to the USD.

In respect of % decline in other indicators you are COMPLETELY WRONG: growth in Australia has flattened by not in spiral seen in Thailand ( eg manufacturing down 8% year on year....a dramatic contraction).. Thailand is facing a perfect storm and were it not for the tourism sector the pain for communities and families would be intense. Not to worry ....Suthep and the loony beer heiress are coming to the rescue .

[JeffreyO]

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

Uh, the US dollar is strong and unemployment is at a 42 year low. I'd say the USA is doing just fine.

[Alwyn]

So, is Thailand is the only country in the world suffering from an economic slowdown?

Everything is wonderful in Greece, Portugal, Spain, the rest of the EU? The USA, China, South America, Russia, the Middle East countries, the whole of Africa are just roaring ahead with no problems at all?

Only poor little old Thailand is in trouble and only because of one person, the PM.

If you believe that I am sorry for you..

The world is going through problems and some are weathering better than others.

Uh, the US dollar is strong and unemployment is at a 42 year low. I'd say the USA is doing just fine.

As is the UK!

[Equalizer]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

that made sense

[tukkytuktuk]

Is the economic slump in Thailand the reason they reversed their decision to buy 2 submarine's from China?

Thailand is the only country without submarines in SEA especially that it's military is second only to that of Indonesia. Thailand had submarines before, and should have now. http://2.bp.blogspot.com/-n_h6YPYouOA/VRIzBwjGb-I/AAAAAAAAGGs/K0HWSkpi28E/s1600/Thai%2Bcommissioning.jpg

[Reigntax]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

"Australia is in stormy waters as well".

More absolute trash. When you grow up a bit son, you may eventually know what you are talking about, until then your ability and knowledge is just about on par with that of the junta. Clueless and naive!

[ratcatcher]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

"Australia is in stormy waters as well".

More absolute trash. When you grow up a bit son, you may eventually know what you are talking about, until then your ability and knowledge is just about on par with that of the junta. Clueless and naive!

Australia is doing just fine.

http://www.smh.com.au/federal-politics/political-news/capital-investment-economic-outlook-slips-from-bleak-to-recessionary-20150528-ghbxls.html

[marcusd]

It would be EVER SO EASY to fix this mess up.

LISTEN to the big business - the Japanese who asked for issues such as flooding - enabling MOVEMENT of their finished product to shipping ports during floods

Visa changes

Treat foreign investment as WELCOME not with contemp

Treat people like they are welcome not just ATM piggy banks

Stop blaming other countries for doing wrong - ie Europe suspending or reducing seafood sales until Thailand fixes the mess in the industry

and there are so many ore issues

Do not hold a strong Thai baht against other nations just to kill off what you have left of tourism from nations that actually CONTRIBUTE to the popluation

DO not think that Thailand will again go back to feudalism 100% - the horse has bolted on that one and doing what you are dong now guys is driving many away WHO WILL NOT RETURN> I for one....

[marcusd]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Not Quite Jamie. Australia has let the dollar drop BUT that helps exports as they are cheaper. Thailand is also a MAJOR exporter and their products are NOT competitive on the world market right now.

Australia has no where near the debt Thailand has. Debt on the balance sheet and Debt that is actual debt are 2 different things. BONDS are one example as they must be paid eventually. Australia has a lot of Bonds but they are help in RESERVE by the Reserve bank - at this stage.

The general is no economic genius and nor am i but if I was selling something, i want people to buy MY goods and services not look elsewhere.

[marcusd]

One may just about wish the previous regime was still in power so we can see the country go down the economic drain, but then one would be a sadist for thinking that and would not be putting the country first.

At least the current govt will be able to guide the economic ship through the stormy waters. Australia is actually in those stormy waters as well. In fact the $aus slide is more pronounced than the baht and most economic indicators in Australia are worse than Thailand. SO in fact Prayut has shielded the country from the full brunt of this global downturn which needs to be acknowledged.

Just think had he not stepped in the economy would have collapsed long ago.

Please tell us where you buy those wonderful hallucinogenic drugs you take on a daily basis.

From any good Thai Pharmacy