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As US & EU try to stimulate economies out of economic downturn, Asian export sectors that drive economic growth begin to be hit.

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Economics
TRADE

Struggling global economy expected to hit exports

9/11/2012
Phusadee Arunmas & Chatrudee Theparat

Thai exports could be hit next year as the global economy has yet to see clear signs of recovery, economists warn.

...clear-cut measures to settle the world's economic slowdown have yet to be seen.

...Interest rate cuts to stimulate economies are unlikely because the rates are now zero in Europe...

The third round of liquidity injection worth US$600 billion by the US under QE3 [quantitative easing] and the Bank of England's asset purchase programme worth $605 billion have also yet to stimulate the world economy and address the European debt crisis...

Under QE3, the Federal Reserve will buy bonds backed by housing mortgages to lower interest rates and boost the economy.

....the European Central Bank's move to buy short-term debts is also unlikely to improve the situation as Spain and Italy are not ready to cut their fiscal budgets for fear of rising unemployment, while a proposed banking union by Europe to address its financial crisis has also yet to be established.

...tight liquidity in European Union banking would also affect banking operations in Asia as most Asian banks now count on credit lines from EU financial institutions more than from US and Japanese counterparts.

When the banking sector suffers, it would result in drastic fluctuations in the prices of commodities such as oil, gold and steel as the world's cash would flood into the commodities market...

Thai exports have been feeling the pinch from shrinking consumption in the EU, with shipments to the bloc's 27 members falling 15% in the first nine months of this year ...

....gross domestic product growth of 4.5% [is projected] for 2013 on the back of several negative factors, including the global economic slowdown, overseas and domestic political conflicts, and exchange rate fluctuations...

...the export sector is unlikely to drive economic growth as it has in the past given the serious impact from the financial problems in the US, EU and Japan. The impact has already been felt in China.

(Source: Bangkok Post, Economics, TRADE, Struggling global economy expected to hit exports, 9/11/2012, Phusadee Arunmas & Chatrudee Theparat, link) 


International Economics Vocabulary

global - throughout the world; all over the world, including the whole world ทั่วโลก ทั้งโลก
global economy

struggling - having serious difficulties มีความยุ่งยาก
struggling global economy

expected - believe will happen คาดว่า (จะเกิดขึ้น)
Struggling global economy expected to hit exports

clear - easy to see and understand
signs - things that when you see them, show you that something is true or that something is happening สัญลักษณ์,  เครื่องหมาย
clear signs - easy to see and understand signs

recovery - economic recovery; when the economy gets better (more jobs, higher incomes) การฟื้นฟูสภาพ
signs of recovery - things that show you that an economic recovery is happening now
clear signs of recovery

the global economy has yet to see clear signs of recovery

warn - tell people about something bad that may happen in future เตือน (ถึงสิ่งที่จะเป็นอันตราย)
economists warn

measures - actions taken to deal with a problem มาตราการ
clear-cut  - simple and so easy to see and understand
clear-cut measures - actions to solve problem (that are simple and easy to understand)

settle - 1. to solve and end a problem; 2. to reach a decision or an agreement about something, or to end a disagreement แก้ปัญหา
settle the world's economic slowdown

clear-cut measures to settle the world's economic slowdown

stimulate - increase activity, make it move and start working again, get economy growing again  กระตุ้น
stimulate economy

stimulate global economy
stimulate the world economy

have yet to stimulate the world economy

interest - payments made for the use of another's money for a period of time
interest rate - the percentage of a loan that is paid as a fee for using another person's money
interest rate cuts to stimulate economies

liquidity - the amount of cash and loans available (either in the economy as a whole or in one business) สภาพคล่อง
injection - putting a liquid, especially a drug, into a person's body using a needle and a syringe การฉีดยา
liquidity injection - money put into the economy (in the form of increased loans available)

tight liquidity - small amount of money and loans available in an economy
tight liquidity in European Union banking

round - one of a series of events, activities, etc. รอบ
the third round of liquidity injection

QE3 [quantitative easing] - a monetary policy used recently by central banks to stimulate the economy when the usual monetary policy does not work, the central bank buys financial assets from commercial banks and other private institutions with newly created money in order to inject a pre-determined quantity of money into the economy (See Wikipedia)

asset - something owned by a person, company etc., particularly money and property ทรัพย์สิน
purchase - buy
purchase asset (verb)

asset purchase (adjective)
asset purchase programme
the Bank of England's asset purchase programme worth $605 billion

debt - an amount of money that you owe หนี้
crisis - an urgent, difficult or dangerous situation วิกฤตการณ์ วิกฤต

debt crisis - when a country or company is having difficulties paying back the money they have borrowed
European debt crisis

address - to deal with a problem จัดการปัญหา
address a problem - try to solve a problem, search for ways to solve a problem
address the European debt crisis

central bank - the main government bank in a country that controls the supply of money and loans in the country and provides financial services to the government and other banks (See Wikipedia)
Federal Reserve - the US central bank (See Wikipedia)

boost - to increase; to strengthen เพิ่ม; ทำให้มีกำลังมากขึ้น
boost - to strengthen ทำให้มีกำลังมากขึ้น
boost the economy

bonds - a way to finance a business with debt that is held by a large number of people each holding bonds; an agreement by a government or an organization to pay back the money an investor has lent plus a fixed amount of interest on a particular date (See Wikipedia)

housing mortgages - loans to buy houses  

backed by - supported by ให้การสนับสนุน
buy bonds backed by housing mortgages
buy bonds backed by housing mortgages to lower interest rates and boost the economy

term - a period of time ช่วงเวลา
short-term 
short-term debts

....the European Central Bank's move to buy short-term debts

improve - to make better ทำให้ดีขึ้น
improve the situation
unlikely to improve the situation

fiscal - related to government spending; connected with the government budget, i.e., public money เกี่ยวกับงบประมาณ
unemployment - the number of people without a job (See Wikipedia) การว่างงาน การตกงาน
cut fiscal budgets for fear of rising unemployment

proposed - suggested (but not yet chosen or decided upon)
established - created
a proposed banking union by Europe to address its financial crisis has also yet to be established.

institutions - large and important organizations, such as universities or banks สถาบัน
financial institutions - banks and other organizations that lend money like banks

credit - loans; money that you owe someone เครดิต เงินกู้
credit line - an amount of "credit" or loan that a bank makes available to a person or a company for a particular period (they can borrow the money and use it if they need to, it is already approved)

counterparts - another person who has a similar function, work, or position in another organisation or place

count on - rely on, depend on
Asian banks now count on credit lines from EU financial institutions more than from US and Japanese counterparts.

sector - a part of the economy ภาคเศรษฐกิจของประเทศ (public sector = government, private sector = all businesses, household sector = families and consumers, banking sector,...) (See Wikipedia)
banking sector
export sector

drastic - having a very big effect มีผลกระทบอย่างใหญ่หลวง
fluctuations - value going up and down
drastic fluctuations

commodities - a good bought in large quantities, with each unit the same, like rice or oil  สินค้าที่ซื้อเป็นจำนวนมากๆ
drastic fluctuations in the prices of commodities such as oil, gold and steel

cash - money เงินสด
flood - when a large amount or number of something enters a place (such as water) จำนวนมาก

cash flood into commodities market
the world's cash would flood into the commodities market

consumption - money spent by households and families on goods and services การบริโภค (See Wikipedia)
shrinking consumption

feeling the pinch - in a difficult situation (with less money to buy things you need)
Thai exports have been feeling the pinch from shrinking consumption in the EU

domestic - within the country ภายในประเทศ
gross domestic product (GDP) - the total value of all the goods and services produced by a country in one year (See Wikipedia)

projected - expected, forecast; what people believe it will in the future
....gross domestic product growth of 4.5% [is projected] for 2013

negative - bad ที่เป็นด้านลบ
factors - one of the things that effects a situation or event ปัจจัย
negative factors

economic slowdown - when economic activity slows, incomes and jobs drop, and the growth of the economy slows too
global economic slowdown

conflicts - angry disagreements and fighting between people or groups ความขัดแย้ง
political conflicts

domestic - inside the country
overseas - outside of the country

overseas and domestic political conflicts

exchange rate - how much of one currency you can buy with another (example: how many baht you can buy with a dollar, the Thai baht - US dollar exchange rate) (See Wikipedia)

fluctuations - up and down movements การขึ้นลง, การขึ้น ๆ ลง ๆ
exchange rate fluctuations

drive - cause
drive economic growth

impact - an effect or influence ผลกระทบ
the serious impact from the financial problems in the US, EU and Japan

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