Somkid believes Donald Trump's presidency will not much affect Thai economy

 

 

BANGKOK: -- Deputy Prime Minister Somkid Jatusripitak is confident that the Thai economy may not be affected much with Donal Trump as the new president of the United States.

 

Reacting to Donald Trump’s stunning victory in the US presidential election on Wednesday, Dr Somkid said he expected major changes in the US policy on trade and economy which, he noted, is not much different from the case of Thailand under the military regime which has introduced many changes in economic and other aspects as never seen in Thailand’s recent history.

 

Thailand has its own way of economic development and the government will follow the economic blueprint which, he believes will not be affected much from the change of guards at the White House, said the deputy prime minister.

 

Full story: http://englishnews.thaipbs.or.th/somkid-believes-donald-trumps-presidency-will-not-much-affect-thai-economy/

 

-- © Copyright Thai PBS 2016-11-10

What you believe is irrelevant. No one knows. If the world economy stumbles, so will the Thai economy. If the Chinese economy stumbles, so will the Thai economy.

 

To say Thailand has it's own way of economic development is laughable to say the leased. There's absolutely nothing unique with the Thai economy or the way of doing things, and your ignorance is just proving my point. All stagnating nations believe exactly the same. "This country is unique, different, so your way of doing things wont work in this great country". Yeah we've heard it plenty of times, and you keep saying it, yet you're still struggling exactly where you were when you started saying it. 

 

Thailand is heavily dependent on export. If Trump does exactly what he has promised then obviously that will affect Thailand greatly, but what he really will do as a president, no one knows, so acting as an all-knowing god is a mistake. Anyway, isn't it better to prepare than be sorry? If Thailand wont be affected, at leased you were prepared. If Thailand will be affected, then what will happen to the farmers and the small/medium sized businesses that depend on export their products/services?

What you believe is irrelevant. No one knows. If the world economy stumbles, so will the Thai economy. If the Chinese economy stumbles, so will the Thai economy.
 
To say Thailand has it's own way of economic development is laughable to say the leased. There's absolutely nothing unique with the Thai economy or the way of doing things, and your ignorance is just proving my point. All stagnating nations believe exactly the same. "This country is unique, different, so your way of doing things wont work in this great country". Yeah we've heard it plenty of times, and you keep saying it, yet you're still struggling exactly where you were when you started saying it. 
 
Thailand is heavily dependent on export. If Trump does exactly what he has promised then obviously that will affect Thailand greatly, but what he really will do as a president, no one knows, so acting as an all-knowing god is a mistake. Anyway, isn't it better to prepare than be sorry? If Thailand wont be affected, at leased you were prepared. If Thailand will be affected, then what will happen to the farmers and the small/medium sized businesses that depend on export their products/services?

Nothing nothing will stop the thai baht though, it will probably strengthen further

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In reality, Thailand is much more xenophobic/racist than Trump so why should Thailand be surprised. America has been open too long. It's time to reciprocate on trade and also on rights. Thais complain online about Trump while ignoring their own reality of racism and xenophobia. They need to wake up to their own abuse.

Okay, from what I've been able to dig up, the US gives Thailand $11 million a  year in military aid and another source cited $77 million in total aid to Thailand from the US government.  The US does $44 billion in trade with Thailand and has $14 billion in direct foreign investment in Thailand.  

 

If the US chose to change any of those numbers it would have a significant impact on the Thai economy which has a total GDP of $387 billion.  

 

 

Car parts may be effected with higher tariffs if Trump gets his way.  Trump has a long way to got when it comes to learning about trade.   He could very well upset things.

Somkid is spot on with that comment. There are plenty of other domestic factors both that are more likely to impact on the Thai economy than Donald Trump. The rice fiasco is one of them.

One can get far as a fortune teller in this country...

I think it is almost certain with Trump's policy against globalisation that all aid to Thailand, will stop. except perhaps for military aid in the interests of retaining bases here. That would not be a problem with a military regime running the country but will affect the general economy here adversely.

Its a typical Somkid answer. Every so often they dust him off to come forward and make an atypical comment. Kind of reminds me of a clock I have. Its in the same vein as the TAT lady and the good general. 

A Thai student just told me that she heard that Trump wants to cancel the J1 visa program which lets students in the US for the work and travel programs. A lot of Thai students do this nowadays so they might be out of luck there. These programs just let companies exploit cheap labor.

Trump strongly believes in tariff wars.  Thailand's export market, already in the doldrums, will be toast.

He is wrong. Thailand was wrong in foreseeing the outcome of elections too. ( Only 3 country could ) Protectionism is growing - Market is shrinking. Everything, every movement  has effect to the others. Even election of the USA has effect to the other markets. 

30 minutes ago, 3FingeredWillie said:

A Thai student just told me that she heard that Trump wants to cancel the J1 visa program which lets students in the US for the work and travel programs. A lot of Thai students do this nowadays so they might be out of luck there. These programs just let companies exploit cheap labor.

heard? where .... 555555. surely competent

At least spell the word correctly..

On 11/9/2016 at 7:02 PM, Brer Fox said:

Somkid is spot on with that comment. There are plenty of other domestic factors both that are more likely to impact on the Thai economy than Donald Trump. The rice fiasco is one of them.

 

Personally I think Trump is a vile, bigoted person who has the intellectual capacity of a chimp.  

 

That said, I am somewhat curious to see if this chimp mentality is exactly what the rest of the world needs from the US.  Remember this is a man who gets up at 3am in the morning to engage in Twitter wars so I'm somewhat curious to see what happens the next time Duterte calls the US president the son of a whore.  I think that will end badly if Trump were to retaliate by cutting off remittances from Filipino citizens living in the US to the Philippines which account for a good chunk of the country's GDP.  

 

IMHO while everyone complains about the amount of meddling the US does, in many ways the US is more like a substitute teacher who doesn't have control of the classroom.  Trump may be that type of leader who puts everyone back in line.  

 

We'll see how Trump tolerates the mock crackdowns on IP in Thailand.  Currently the US (and the EU and everyone else) says, "Oh, that's nice.  They're making progress."  But under Trump, he might just say, "Listen, the acceptable amount of IP piracy is 0.  If we even hear of 1 illegal DVD being sold on the streets, you can kiss any US aid goodbye.  Make it happen."

 

Who knows how things will turn out but I think the world may be in for a shock to learn how the world changes when the US no longer even pretends to care about interests other than its own.  

On 11/9/2016 at 9:56 PM, 3FingeredWillie said:

A Thai student just told me that she heard that Trump wants to cancel the J1 visa program which lets students in the US for the work and travel programs. A lot of Thai students do this nowadays so they might be out of luck there. These programs just let companies exploit cheap labor.

 

Actually it lets Thais exploit Thai labor.  Most of these student workers end up working in Thai restaurants where the owners are Thai (or immigrants who have become US citizens) who exploit their staff and try to apply Thai employee laws to people working in the US.  Paying staff under the table, no benefits, threatening staff who try to go elsewhere, etc, etc.  

 

Unfortunately so many Thai students come to the US with very poor language skills and even a poorer understanding of legal protections that their Thai employers completely exploit them.