Thailand not in recession, just growing below potential: central bank governor

[Dumbastheycome]

"drought" is  not  exclusive  to a description of  the   climate. What  follows ? 

More  weather ! lol

[Assurancetourix]

17 hours ago, nchuckle said:

Phrasing it as he has is deflection. A developing Asian economy should not be contemplating recession but the forecast drop in growth from over 4% is very significant. Look at it in context of Thailand’s neighbours/competitors and it is worrying.

It should be noted that in the ASEAN countries, Thailand has the dunce's cap of the last of the class 

 

 

https://www.pattayaone.news/world-bank-slashes-thailands/

[Bert Jones]

I often wonder how the shops in the plazas stay open, yes there are plenty of people milling around, but they're not exactly weighed down with bags full to the brim of goodies...all the pricey shops are empty - I've never seen a shopper in ripoff Crocs for example. Most teens are happy with their fake Adidas trainers and tops!

[Assurancetourix]

Like you Bert Jones ,

 

I live in this country since 15 years;
from time to time I enter a Central Plaza or a similar mall ... anywhere in Thailand
I have always been shocked by the regent desert in almost all shops;
many salespeople who are thumbing or spending their lives on their smartphones;
very few customers who go away without buying anything;
the only place where customers buy something is the food court.
I think most of these shopping centers were built with dirty money;
that it pays little is of no importance; the money that will come out will have been laundered.

[Stevemercer]

And why are all of Thailand's ASEAN competitors growing at nearly twice Thailand's rate? Because Thailand has shot itself in the foot and the policies of the central bank over the last 5 years are to blame. And the problem won't be fixed unless/until the government or central bank actually admit there might be a problem!

 

Thailand can easily lower the Baht if they want. All the Government has to do is announce that the Baht is too high, and they will be considering measures to reign it in and reduce it by 10% over the next 12 months. That will see fund inflows dry up almost overnight even without any actual structural changes. It's called 'jawboning' and is just about introducing uncertainty into the market place to suck speculative funds away.

 

But the government and central bank will not do this because they are very comfortable with a high baht, thank you very much. Investors know this and will continue to pump funds into Thailand, and the Baht will continue to appreciate.

 

What about the 80% of GDP reliant on exports and tourism that is no longer competitive against Thailand's neighbours? Well, the government can keep introducing patches and little fixes, here and there, so all looks rosy.

 

 

[Soikhaonoiken]

Not in recession now, but the way things are going it won't be long before it is.... 

Tourists.... Down

Exports..... Down

Manufacturing.... Down

Strong currency. 

[onera1961]

On 10/10/2019 at 8:17 PM, topt said:

So what is your definition of "full recession"?

Becuase he thinks so. May be he can get a job at World bank as a futurist.

[onera1961]

19 hours ago, Stevemercer said:

And why are all of Thailand's ASEAN competitors growing at nearly twice Thailand's rate? Because Thailand has shot itself in the foot and the policies of the central bank over the last 5 years are to blame. And the problem won't be fixed unless/until the government or central bank actually admit there might be a problem!

The reason is that Thailand has a unique problem of middle income with aging population like China. This is the problem of the developed countries with low growth rates. But Thailand being a developing country, it will be hard for Thailand to escape middle income trap (per capita GDP more than 12,000 USD). One way to solve this is allow migration of young people from neighboring countries like Laos, India, and Myanmar. Instead, Thailand is opening up brothels (aka bars) all over the country and pimping their poor young daughters for marriage to 30-years old farang sexpats. No country in the World has escaped middle income trap by opening brothels and pimping their young daughters to farangs and also no country in the World has more sex workers married to older farangs who come as  sex tourist and to find a parner for marriage.

[Tayaout]

20 minutes ago, onera1961 said:

The reason is that Thailand has a unique problem of middle income with aging population like China. This is the problem of the developed countries with low growth rates. But Thailand being a developing country, it will be hard for Thailand to escape middle income trap (per capita GDP more than 12,000 USD). One way to solve this is allow migration of young people from neighboring countries like Laos, India, and Myanmar. Instead, Thailand is opening up brothels (aka bars) all over the country and pimping their poor young daughters for marriage to 30-years old farang sexpats. No country in the World has escaped middle income trap by opening brothels and pimping their young daughters to farangs and also no country in the World has more sex workers married to older farangs who come as  sex tourist and to find a parner for marriage.

Source? 

[Matzzon]

42 minutes ago, onera1961 said:

The reason is that Thailand has a unique problem of middle income with aging population like China. This is the problem of the developed countries with low growth rates. But Thailand being a developing country, it will be hard for Thailand to escape middle income trap (per capita GDP more than 12,000 USD). One way to solve this is allow migration of young people from neighboring countries like Laos, India, and Myanmar. Instead, Thailand is opening up brothels (aka bars) all over the country and pimping their poor young daughters for marriage to 30-years old farang sexpats. No country in the World has escaped middle income trap by opening brothels and pimping their young daughters to farangs and also no country in the World has more sex workers married to older farangs who come as  sex tourist and to find a parner for marriage.

You must be an economical genious, right? ????

So, you really mean that the 0,001% of the poor young daughters that marry old farangs is a part of the problem with Thailands economy?

Just wonder how you came to that conclusion?