Pridiyathorn: Sea change needed to bolster economy

TRADE

Pridiyathorn: Sea change needed to bolster economy

Published: 21 Nov 2012 at 00.00
Newspaper section: Business

Thailand should be transformed from a production-based economy to a trade-based one, the better to cope with the global economic crisis, says former finance minister MR Pridiyathorn Devakula.

MR Pridiyathorn (left) shares a laugh with Mr Vichit (right) and Narongchai Akrasanee, a member of the central bank’s Monetary Policy Committee, at yesterday’s forum. WISIT THAMNGERN

"The government should not hesitate to push forward the Southern Seaboard project, especially the Pak Bara deep-sea port. The project is important because the demand for shipment is now over capacity for the Laem Chabang port to handle," MR Pridiyathorn said yesterday at a forum on the global economic crisis.

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boons
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Discussion 1 : 21 Nov 2012 at 11.031
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Trade-based? Investing abroad? The problem with this plan (along with the wage hike) is that Thailand is setting the stage for a massive surge in unemployment. A so-called "trade based" economy does not require large amounts of labor. So what will happen to the laborers? I promise you we'll hear all kinds of nonsense about "knowledge-workers" and about stimulating "internal demand". Next we'll be hearing pleas to reduce banking regulation and reduce credit requirements. We have all seen this movie before. It does not end well. But it does make bankers exceedingly wealthy. Ready to play?
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Pridiyathorn: Sea change needed to bolster economy | Bangkok Post: business