Bangkok, Former Deputy Prime Minister Somkid warns “Trump Height” of fears of a trade war. between world powers Accepting that political problems are dragging down the Thai economy
Mr. Somkid Jatusripitak former deputy prime minister Gave a special speech at the seminar “Breaking the Economy in the Year of the Big Snake, inviting you to create a sustainable Thailand” on the topic of “Following the Pulse of Thailand” organized by the Thammasat Economics Association on global geopolitical problems. Very important in modern times Trade wars in each region are still intense. Both the Russian-Ukrainian war Middle East violence Problems affecting freight transport Foreign factors Both Taiwan elections It is one of the issues that will shake up China. What is interesting to watch is that politics in the United States is preparing for the election. “Trump” may come back again. Implementation of economic policy May affect Thai exports from the obstacle of setting up a tax wall trade barriers of China and the United
States Therefore, the world must be careful of “Trump Height” as there is a risk that there may be more problems with China. From now on, Thailand may not be able to talk on both sides. It may force Thailand to choose a path. Talk more with one side or the other.
Although the economies of the United States, China, and India are improving It is seen that the world economy will improve accordingly. But the situation is not the same as expected. The World Bank and IMF adjust world GDP twice a year, making the future more difficult to predict. Because of the fluctuation of various factors The business sector must prepare itself. Because there are starting to be signals Growing lower every time If the database every 5 years is taken into consideration, it is seen that this year ’67 will be the weakest year. IMF estimates world GDP Expanded 3.1 percent despite seeing that the United States is growing. but has slowed down It’s still good that it’s not violent. This year, it is expected that the Fed may cut interest
rates further. To take care of US inflation
For China, there are serious economic problems. If the Chinese stock market disappears by 30 percent and new graduates have no jobs, “Xi Jinping” must be dedicated to pushing for GDP growth of 4.5 percent. As for Japan, the stock market is starting to come back. Because it aims to develop many aspects If you look at the surface Therefore, it is seen that the world economy should be good as well. India’s economy is growing at an impressive rate, with half the population under 25 years of age. The young people are very well educated. Consumers begin to have good purchasing power. Indians amend many aspects of the law. Very high economic development ASEAN’s opportunities therefore have high potential. But when an opportunity arises, Thailand will use the opportunity to be
As for the Thai economy, it is accepted that the economy is starting to weaken. Because Thailand is still moving forward very slowly. while neighboring countries Grow by leaps and bounds Develop the
industry of the future The stock market moved up all the time. Indonesia became an economic powerhouse. Malaysia quickly focused on economic policy. It is considered that all ASEAN countries are adapting very quickly. The government must make Thailand attractive to foreigners. Therefore, Thailand must adhere to the policy. China’s Silk Road (New Silk Road Economic Belt) because China still uses Thailand as a benefit. Connect trade to the outside
Thailand has entered an era of low economic growth. Therefore, we must look at Thailand’s fundamental factors. that have the potential to compete, such as the digital economy or AI, the industry of the future The use of technology must be spread to every province. Thailand is beginning to enter an aging society. The birth rate is very low. The market for the elderly therefore has an opportunity. Thailand still faces the problem of PM 2.5 dust, which is considered to affect many parts. Both tourism and economic sectors admit that the Thai economy is a problem. It come
s from political problems, dividing colors, dividing camps, aiming to seize the vote base in every form. The government must push for long-term policies. Although there are some short-term measures When Thailand has to develop its long-term structure, it is concerned about pushing for the EEC area. that has not been taken care of Therefore, foreign investors are not interested. If it’s like this Landbridge project There may be a problem.
‘Managing the current economy must adhere to the principles of justice, good governance, transparency, confidence, trust, political problems. admit that the economy is in recession They all come from these things. Thailand is moving towards a point of risk. Because if GDP in 2023 expands by 1.8 percent, we’ll have to prepare some ice for our heads. Therefore, we must prepare to deal with the problem of low growth. Therefore, we must focus on long-term infrastructure. to build investor confidence,’ Mr. Somkid said.
Source: Thai News Agency