Columnnist

Chartchai Parasuk

Freelance economist

Chartchai Parasuk, PhD, is a freelance economist.

Chartchai Parasuk
14 Oct 2021

No choice but to open the economy

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.

14 Oct 2021 46
No choice but to open the economy
30 Sep 2021

Thai economy unlikely to rebound soon

As 44.5% of the world population has received at least one dose of Covid-19 vaccine, most economies are looking forward to a return to pre-pandemic economic levels by 2022. Thailand is certainly one of them. We beat the global average with 45.7% of our population receiving the first dose and 26.4% receiving both doses. The government set a target that by year-end, more than 70% of the population will be fully vaccinated, including third booster doses. Will we see a return to the normal economic activities of 2019 by next year? The answer is not yet, and, worse, maybe never.

30 Sep 2021 52
Thai economy unlikely to rebound soon
16 Sep 2021

Get past the Thai-China trade deficit

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.

16 Sep 2021 50
Get past the Thai-China trade deficit
2 Sep 2021

Time to rethink the Covid-19 strategy

As of Aug 31, Thailand has reported 1.2 million accumulated cases of Covid-19 and 11,589 deaths.

2 Sep 2021 32
Time to rethink the Covid-19 strategy
19 Aug 2021

Thai economy nearing 'do it, or die'

In my previous articles, I have suggested the economy is in bad shape, and that at least 2 trillion baht in economic relief packages is needed to prevent the economy from collapsing.

19 Aug 2021 75
Thai economy nearing 'do it, or die'
5 Aug 2021

How to save country when it's broke

This is not really a good time for economists and/or economic research institutions to make GDP growth projections for Thailand as the Covid-19 pandemic is far from settling down. Unstable economic conditions have caused a well-known research institute to revise its 2021 growth projections five times already.

5 Aug 2021 42
How to save country when it's broke
22 Jul 2021

A Wuhan lockdown will not work here

Originally, I planned to write an article titled "Will it be a soft landing or hard landing?" which would have been about the future of the world's financial markets and the economy.

22 Jul 2021 36
A Wuhan lockdown will not work here
8 Jul 2021

Time to accept we can't beat Covid-19

If the government does not wish to see a collapse of society, it must rethink its Covid-19 strategy. First, it must admit that the Covid-19 outbreak is not controllable after the outbreak has changed from the cluster level (individual based) to the community level (activity based).

8 Jul 2021 70
Time to accept we can't beat Covid-19
24 Jun 2021

If jabs don't work, we must have Plan B

What would you do if you were a government facing a (rapidly) falling economy, receding tax income, ballooning public and private debts, drying up domestic liquidity, and feeble economic relief programmes?

24 Jun 2021 65
If jabs don't work, we must have Plan B
10 Jun 2021

A long road to recovery for Thailand

The OECD (Organisation for Economic Co-operation and Development) in last December's forecast raised its global GDP growth forecast for 2021 from 4.2% to 5.8% as of May 2021, primarily due to the achievement of Covid-19 vaccine rollout in developed nations. The GDP growth rate for the US is estimated to be as high as 6.9% this year -- an admirable rise from a contraction of 3.5% last year. The US is not the only economy that benefits from a quick vaccine rollout. The UK economy is projected to grow at an even higher rate of 7.5% in 2021 as more than 40% of its population has been fully vaccinated and about 60% of its population received at least one dose.

10 Jun 2021 25
A long road to recovery for Thailand