Showing 31 - 40 of 1,083
3.2% GDP growth 'pie in the sky'
News, Chartchai Parasuk, Published on 11/01/2024
» This year must be my lucky year. One of the key points of this article is to underline the risk of financial crisis compared to 1997. But this time it would not come from bank failures, it would come from defaults on corporate bonds and commercial papers. The reasons are the low cash position of corporates from many years of weak economic performance and, most importantly, today's super-tight domestic liquidity to refinance matured bonds and papers. I am a little wary that readers may scorn such a bold opinion. However, out of the blue, my opinion was proven correct on Monday when Italian-Thai Development (ITD) announced the postponement of payments on its bonds due in 2024 to 2026 with a total value of 14.45 billion baht for two years.
ESG: Time for action not words
Oped, Published on 28/12/2023
» Not a week goes by without an ESG meeting, a CEO summit, a sustainability expo. This flurry of events highlights how much the business context has changed in the last decade and is set to change further in the coming years as stakeholders bring their growing influence to bear. Consumers, employees, and other economic actors, especially millennials, are becoming more environmentally and socially conscious. Not only are they increasingly holding companies to account for their performance on various socioeconomic issues, but they are also voicing their expectations for companies to contribute to solving the most complex challenges of our time in view of supporting the achievement of the Sustainable Development Goals (SDGs).
Will foreign investors still be wooed?
Oped, Chartchai Parasuk, Published on 28/12/2023
» This is my last article for 2023. Appropriately, I should write about the 2024 economic outlook but I have decided to postpone that to be the first article of 2024 as the analysis might be too unpleasant to digest right now. However, I will leave a "teaser" for readers to ponder over during the long holidays. As such, I am left with two choices: an article about informal debt -- I estimate outstanding debt to be over 400 billion baht and that it could have strong ties with grey money -- or an article about Thailand's ability to attract foreign investors, as our Prime Minister Srettha Thavisin travels all over the world to attract them. In the end, I opted for the latter.
Bad to good: What kind of year was 2023 for Asia?
Oped, Published on 28/12/2023
» As 2023 departs, and 2024 -- and soon, the lunar Year of the Dragon -- arrives, we once again highlight the winners and losers of the year gone by in Asia.
The growing risk of global disorder
Oped, Published on 26/12/2023
» The Western-led global economic order had a bad 2023. Surprisingly, the primary cause was not the emergence of an alternative order led by China, as some had anticipated. Instead, it was internal stress that led to more doubts around the world about its effectiveness and legitimacy.
Debtors rock but creditors may not roll
Oped, Published on 26/12/2023
» In its latest World Economic Outlook, the International Monetary Fund (IMF) reported that a rising share of countries -- 56% of low-income countries and 25% of emerging markets -- are "in or at high levels of debt distress".
Climate-smart rice farming the future
Oped, Published on 23/12/2023
» Rice is Thailand's most important food crop and an integral part of Thai culture and society. At the same time, rice farmers remain among the poorest occupational groups in Thailand and are extremely vulnerable to the impacts of a changing climate -- rice farming is a water-intensive and temperature-sensitive activity conducted in a climate that is becoming increasingly characterised by longer dry spells and higher temperatures.
IMF must lead climate financing
Oped, Published on 19/12/2023
» With their agreement at COP28 to "transition away from fossil fuels in energy systems", countries have made genuine progress on tackling climate change. But there is still much to do to mobilise the level of financing needed to turn the commitment into reality. International organisations -- especially the International Monetary Fund -- must step up. Though the IMF was relatively slow off the mark in the race to combat climate change, it has made great strides under Managing Director Kristalina Georgieva. But it must take its climate leadership much further.
Why won't states regulate artificial intelligence?
News, Published on 18/12/2023
» What happens when a globe-spanning corporation becomes so powerful that even nations have to answer to it? In the 18th century, the British East India Company (EIC) came close. Founded by royal charter to act as a trading arm of the British monarchy, the company grew into an imperial power in its own right.
2024 GDP forecast is wishful thinking
Oped, Chartchai Parasuk, Published on 14/12/2023
» If one thinks 2023 was a not-so-good year for the Thai economy because GDP growth is likely below 2%, 2024 could be worse owing to three major economic risks: liquidity inadequacy, high gasoline price, and high electricity cost.