March 3rd, 2007, 07:53
Payungsak Chatsuthiphol, vice president of the Federation of Thai Industries, said that for four years the private sector had been used to the previous government's brand of liberal capitalism and while the incumbent interim government had given the private sector a leadership role in steering the economy, "we saw consumption plummet and the economy wobble". Since December sales of cement, pickup trucks, motorcycles, cars and luxury goods have dropped off, he noted, and only the export sector is still doing fine, chalking up 17 per cent in growth last year. He believes that private-sector confidence is still steady, but the latest confidence index in January showed a dip from 90 per cent the year before to 86 per cent.
Thailand will fall behind, he said, the economic gloom is here to stay, and the economy could continue slowing down until 2011, which means the baht problem must be dealt with quickly. He suggested Bt37 to Bt38 was the right rate.
Stock-market expert Somjai Phagaphasvivat said Vietnam was catching up very fast and had a literacy rate of almost 100 per cent and a workforce with an English-language background. To keep from lagging behind, the Thai government should invest in infrastructure and human resources, he said.
Anusorn Thammajai, an economist, agreed. "Why didn't the government spend the money on infrastructure? Instead, they spent lots of money on unnecessary items like aircraft," he said. http://www.nationmultimedia.com/2007/03 ... 028408.php (http://www.nationmultimedia.com/2007/03/03/headlines/headlines_30028408.php)
Thailand will fall behind, he said, the economic gloom is here to stay, and the economy could continue slowing down until 2011, which means the baht problem must be dealt with quickly. He suggested Bt37 to Bt38 was the right rate.
Stock-market expert Somjai Phagaphasvivat said Vietnam was catching up very fast and had a literacy rate of almost 100 per cent and a workforce with an English-language background. To keep from lagging behind, the Thai government should invest in infrastructure and human resources, he said.
Anusorn Thammajai, an economist, agreed. "Why didn't the government spend the money on infrastructure? Instead, they spent lots of money on unnecessary items like aircraft," he said. http://www.nationmultimedia.com/2007/03 ... 028408.php (http://www.nationmultimedia.com/2007/03/03/headlines/headlines_30028408.php)