Chartchai Parasuk
Freelance economist
Chartchai Parasuk, PhD, is a freelance economist.
The vicious economic cycle has begun
Do not be surprised to see the government constantly coming out with economic good news such as its claims there are more factories opening than closing and more jobs being created. Or that the government is confident the bottom has been reached and a brighter economic outlook is set for next year. It is their job to create hope, while it is also my job to give readers the real economic picture. These pieces of information are accurate but, unfortunately, their stories do not go along with the real numbers. And remember, numbers never lie.
Time to bring the baht to heel for sake of economy
Complaints about the strong baht are growing louder by the month. Many are puzzled at why Thailand's currency keeps appreciating despite a weakening economy and falling exports. At the beginning of the year, the US dollar/baht rate was at 32.33. As of Wednesday, the baht had strengthened to 30.18 per dollar.
Take economic data with a grain of salt
Originally, I planned to write an article titled "Albert Einstein and baht exchange rate". Then I said to myself, "Nope, let's not write another serious article this week". So, I decided to go for a lighter one about international rankings and ratings which the government often cites to reiterate that the Thai economy is in good shape. I never have understood why governments like to do this. Nobody cares about these figures. They care about their businesses, their jobs and their debts.
When honesty really is the best policy
The International Monetary Fund appointed a new chief on Oct 1. The new Managing Director, Kristalina Georgieva, suddenly changes the "everything is okay" view.
How to survive the economic winter
Last week I received a touching letter from one of my readers thanking me for writing informative articles. The reader also expressed concern about the future economically and wondered how to adjust to the increasingly risky situation. Therefore, I feel it should be my duty to suggest investment options, lifestyle adjustments and career choices for the upcoming economic winter.
Fresh QE won't stop global recession
I have to apologise because this article will not be easy to read. I will try my best to explain things in the simplest way possible. However, global financial issues are difficult and complex in nature. If you feel that you do not want to be bothered with the complexity of the issue, I will give the conclusions of today's article now.
Is it all the Bank of Thailand's fault?
Currently, the two most pressing economic issues in Thailand are the appreciation of the baht and the high level of household debt.
Don't bet on stimulus saving economy
You may have read elsewhere that the government's new 316-billion-baht economic stimulus package will not work. I second those opinions but for totally different reasons.
HK protest stems from economic plight
My column today was supposed to be an analysis of the Thai economic outlook for the remaining half-year of 2019. However, the ongoing massive upheaval in Hong Kong changed my mind.
Economy faces 4 key hurdles this year
The first half of 2019 has already passed and it is a well-known fact that the Thai economy is not in good shape. GDP growth has plummeted from 3.7% in the last quarter of 2018 to 2.8% in the first quarter of this year. Although second-quarter GDP growth will be officially announced soon, raw economic data from April to June indicates a weaker second quarter, particularly in the areas of exports and tourism.
