Showing 1 - 10 of 12
Why the economy is heading for a crisis
Oped, Chartchai Parasuk, Published on 02/05/2024
» I wish I were this good when it comes to picking winning lottery ticket. Just a few days ago, the Ministry of Finance (MOF) lowered its 2024 GDP growth projection from 2.8% to 2.4%, citing blah, blah, blah.
Structural flaws impede our economy
Oped, Chartchai Parasuk, Published on 21/03/2024
» It took Japan 17 years to learn that a macroeconomic policy is for stabilising an economy, not stimulating growth. Due to low economic growth in the "lost decade" following the financial crisis in the autumn of 1997, the Bank of Japan adopted an unthinkable monetary policy of a negative interest rate in 2007 by pushing the short-term policy rate down to -0.1%.
BoT is absolutely right in holding rates
Oped, Chartchai Parasuk, Published on 22/02/2024
» The whole country -- the government, its economic agencies, private economic research houses, the private sector, and academics -- is accusing the Bank of Thailand (BoT) of being stubborn for refusing to lower interest rates to support the weak economy, aka, the economy in crisis.
Deflation might be here, that's not good
Oped, Chartchai Parasuk, Published on 20/07/2023
» Read this article well. It will explain the risk of economic recession that Thailand is facing.
Thai economic prospects far from rosy
Oped, Chartchai Parasuk, Published on 09/02/2023
» Logically, one would imagine that 2023 would be a much better year than 2022. Covid is over in every corner of the earth and economic activities resume. The world oil price is below US$80 (2,677 baht) per barrel and inflation is coming down. At the first meeting of 2023, the Fed raises interest rates to merely 25 basis points as opposed to the 50-75 basis points for each meeting in 2022.
Putting a dampener on Thai recovery
Oped, Chartchai Parasuk, Published on 26/01/2023
» After three years in which the economy suffered from Covid effects, I am sorry to say that 2023 will not be the year of economic recovery as everyone had hoped. The global economy will still be plagued by inflation threats and several adverse factors such as excessive debt and the Russia-Ukraine war. These negative factors prompted the World Bank to revise its global economic growth prospects downward from 3.0% to 1.7% for 2023. The key point is a marked slowdown from 2.9% growth in 2022.
Signs of economic slowdown alarming
Oped, Chartchai Parasuk, Published on 12/01/2023
» The Thai government, businesses, and citizens are cherishing the news of returning Chinese tourists with the first group of 286 passengers who arrived on Monday. The Tourism Authority of Thailand estimates that 5 million Chinese tourists will visit our country this year, bringing with them 250 billion baht in spending money. I have two comments on this joyful news. Firstly, the ban on the sale of outbound group and package travel imposed by China's Ministry of Culture and Tourism on Jan 27, 2020, is still in effect. There is no telling when this ban will be relaxed or lifted. Second, the mass arrival of Chinese tourists was already factored into the World Bank's GDP growth projections. The Bank projected that the Thai economy would grow by 3.6% in 2023. To achieve such growth, the arrival of 22.4 million foreign tourists, with 6.2 million from China, was assumed.
Economic risks to watch out for in 2023
Oped, Chartchai Parasuk, Published on 29/12/2022
» The world will end 2022 with big celebrations. Yet not because of robust economic growth, as growth this year is projected to be only 3.2% -- following the International Monetary Fund's (IMF) recent projections -- compared to 6.0% growth in 2021.
No choice but to open the economy
Oped, Chartchai Parasuk, Published on 14/10/2021
» There are not many countries on this planet that depend on outside markets like Thailand. Exports of goods account for 54% of GDP while foreign tourism income accounts for another 12% -- totaling 66% of GDP. The rest is made up by domestic private consumption.
Get past the Thai-China trade deficit
Oped, Chartchai Parasuk, Published on 16/09/2021
» This is not a China bashing article. The idea for today's article started when the Minister of Foreign Affairs and Speaker of the House cautioned Thais, the press, and members of parliament against criticising Chinese Covid-19 vaccines as it might upset the Thai-China relationship.