Don’t rush to open the country, warns former WTO chief

[webfact 78,240]

Don’t rush to open the country, warns former WTO chief

By The Nation

 

Former director general of the World Trade Organisation, Supachai Panitchpakdi. File photo.

 

Former director general of the World Trade Organisation, Supachai Panitchpakdi, has urged the Thai government not to rush to open the country to foreign tourists amid the ongoing threat from Covid-19.

 

He pointed out that Western countries are loosening and re-imposing lockdowns in a cycle that is resulting in a large number of infections and deaths, as well as severely hurting economies.

 

He warned of the long-term impact of Thailand lifting its restrictions on foreign travellers. 

 

“Thailand should gradually open the country, because human resources are the most important factor. It takes about 20 to 30 years for human development, and if those people die it will be very difficult to restore the lost human resources,” he said.

 

Saving lives is the best way to aid economic recovery post-Covid-19, said Supachai, who is also a former secretary-general of the UN Conference on Trade and Development (UNCTAD).

 

The government has opened the country to a limited number of foreign tourists, in a bid to help tourism recover from the devastating impact of the virus.

 

Supachai noted the economy is expected to contract 5 to 6 per cent this year, up from the previous forecast of 7-8 per cent contraction.

 

He expressed optimism that Thai economic growth and exports would return to positive territory next year. Faster recovery of China and Asean countries would benefit Thai exports, he predicted.

 

However, he warned exporters not to rely on a weaker baht. Baht appreciation could dampen exports, so exporters should reorganise their businesses to increase their competitive advantage, he suggested.

 

Meanwhile he urged the central bank to raise the interest rate since its low level of 0.5 per cent was hitting savers’ income.

 

Rising household debt was also a worry, he said. Thais are getting into debt at a younger age, in contrast to people in other countries who don’t get indebted until much older, he added.

 

Source: https://www.nationthailand.com/business/30398645

 

-- © Copyright The Nation Thailand 2020-11-27

 

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[tribalfusion001 5,896]

Rush 555, 8 months now and counting with nothing much on the horizon apart from 3 month tourist visa 14 days ASQ. After watching a few videos on ASQ tonight on YouTube, it's not for me and nor is the limited tested vaccines. Quick tests using maybe Lateral Flow or similar is the only way of getting things moving again.

[timendres 6,527]

53 minutes ago, webfact said:

However, he warned exporters not to rely on a weaker baht.

 

Has Mr. Panitchpakdi been getting updates from the BOT?

[ezzra 43,530]

On a one hand you have common sense and on the other you have massive losses from industries that used to rake in billions in tourists related businesses and now they'are imploding on themselves...What do you do?...

[meechai 3,021]

41 minutes ago, ezzra said:

On a one hand you have common sense and on the other you have massive losses from industries that used to rake in billions in tourists related businesses and now they'are imploding on themselves...What do you do?...

 

 

You say you have common sense on the one hand but do you?

"common sense" = "a common-sense approach"

good sense and sound judgment in practical matters.

 

On the surface most might say yes but....

 

Is a virus with a 9x.xx% survival rate in otherwise healthy people worth the effect/destruction of economies achieved thus far?

I have a wealth of no idea & am glad it is not my decision to make but watching it does not appear to me anyway to be a common sense approach

 

Edited November 26, 2020 by meechai

[bkk6060 12,935]

2 hours ago, tribalfusion001 said:

Rush 555, 8 months now and counting with nothing much on the horizon apart from 3 month tourist visa 14 days ASQ. After watching a few videos on ASQ tonight on YouTube, it's not for me and nor is the limited tested vaccines. 

Maybe you should rethink it.

Sunny and warm here great golf and beach weather, places are open with minimal Covid inconveniences.

But hey, if you prefer to be stuck in the cold and wet in a locked down country with with high hospitalizations and deaths and no Covid relief in sight possibly for many months, then good luck.

Sounds totally depressing to me. So happy to be in LOS.

 

 

 

[nobodysfriend 4,214]

3 hours ago, webfact said:

Western countries are loosening and re-imposing lockdowns in a cycle that is resulting in a large number of infections and deaths, as well as severely hurting economies

 

He is right there .

 

3 hours ago, webfact said:

human resources are the most important factor. It takes about 20 to 30 years for human development, and if those people die it will be very difficult to restore the lost human resources,

 

That statement is cynical and cold .

 

3 hours ago, webfact said:

Saving lives is the best way to aid economic recovery post-Covid-19,

 

It is all about the economic recovery ...?

 

3 hours ago, webfact said:

Meanwhile he urged the central bank to raise the interest rate since its low level of 0.5 per cent was hitting savers’ income.

 

That is right , again .

Edited November 27, 2020 by nobodysfriend

[nobodysfriend 4,214]

1 hour ago, ezzra said:

On a one hand you have common sense and on the other you have massive losses from industries that used to rake in billions in tourists related businesses and now they'are imploding on themselves...What do you do?...

That's an easy to answer question ...

Thailand's current approach is the best and only way in the moment .

Quarantine on arrival is scaring away many potential tourists , but so are packed flights .

Tourist related businesses would suffer even more if there is a major outbreak in Thailand , because nobody would come anymore at all ...

Thailand's population would suffer from taking that risk ( and from the then re-imposed restrictions ) , and the government would be held responsible for that . And it would ruin Thailand's reputation as being a safe destination .

They cannot just open the border and let tourists in again . Not yet .

May be if a working vaccine is found , potential tourists who have been vaccinated and tested can be allowed to board a plane and enter the country without quarantine ... but for the moment it is still far too early for that .

[rupert the bear 961]

a balanced perspective?the economy is imploding.families and loved ones are separated.we need to protect ourselves from covid.all facts.why not allow people in that are not carrying covid.?that can show that with a neg PCR?then they book a flight after getting a visa,theyre tested on arrival again.spend a week in quarantine .the prices for such a service are obscene this is the main barrier.insurance ,ok ive seen it at reasonable rates.but the hotel scam and all the hurdles .simplyfy it and get things moving,retirees with property and family are locked out ,its absurd

[Surasak 980]

1 hour ago, meechai said:

 

 

You say you have common sense on the one hand but do you?

"common sense" = "a common-sense approach"

good sense and sound judgment in practical matters.

 

On the surface most might say yes but....

 

Is a virus with a 9x.xx% survival rate in otherwise healthy people worth the effect/destruction of economies achieved thus far?

I have a wealth of no idea & am glad it is not my decision to make but watching it does not appear to me anyway to be a common sense approach

 

Common sense is like deodorant, the people who need it most never use it.

[miamiman123 806]

Bring that BAHT down!!!

yeah they don’t want do that!!

let’s open the country

screw the export trade here..... we like that strong baht to buy those USA Ferrari's and homes and pay for our kids education at Oxford or Harvard!

get those baht tools out of the tool chest and get to work!

that will help the this economy!!!

 

[kiwikeith 1,771]

3 hours ago, timendres said:

 

Has Mr. Panitchpakdi been getting updates from the BOT?

The weaker BHT is killing exporters, not the filthy rich.

So caution is wise, but using caution takes a great deal of wisdom.

You cant open to USA that's mad, but you can slowly open to safe countries.

And when the vaccine comes along Qantas will welcome flyers.

 

Some rich men will have to print lots of loot to get the airlines up and running, meanwhile lie down and wait for Pfzier, Sputnik and Sino to jab you.

[Katipo 5,172]

60 plus people die on the roads every day in Thailand. Why is so little done to prevent those lost 'human resources'? I suppose selective compassion is better than none at all.

[Rimmer 10,735]

A troll post has been removed, don't like the topic then don't read it and move on but do not leave your comments on here for others to read and for us to clear up after you.

[CLW 3,013]

5 hours ago, webfact said:

He pointed out that Western countries are loosening and re-imposing lockdowns in a cycle that is resulting in a large number of infections and deaths, as well as severely hurting economies.

But keep the country locked and see the tourism industry die, doesn't hurt the Thai economy?

 

5 hours ago, webfact said:

“Thailand should gradually open the country, because human resources are the most important factor. It takes about 20 to 30 years for human development, and if those people die it will be very difficult to restore the lost human resources,” he said.

What human resources? A Thai bachelor degree is less worth than a vocational or high school degree elsewhere. Adding to that, the death rate among young people that had covid-19 is very small. And the young people are the biggest share of current Thai population