is 8-13 per cent follow on huge government investment in
Laem Chabang Industry Estate,natural gas extraction and
industrial
investment in the East including foreign investment
to set the production base.
Investment in immovable property and golf course are in
every where until the bubble economy came, there are
large amount of current account deficit and many foreign
loans borrowed,and high risk in financial sector.
In 1997 ,the bubble economy explosed ,devalued of the
baht currency is necessary,the baht value lost over
half.
commercial bank and business sector failed asset gone,
followed by large amount of debts adding.
At that time the economic was in recession period but
the
weaken of the baht value stimulate competitiveness in
the
world market and
change Thailand from consume inbound
to the exporting country.
Over decade past ,exporting become major important in
Thai economic,which the goods export are agricultural
product, labour industry such as garment,electrical,
electronic ,computer and automotive industry.
In 2008 ,we have the impact from world crisis also,the
export
market clam down however the economic can recover
rapidly.
In 2010 we met the political crisis and the severe
flooding in 2011.
In 2012 the economic had major recovery,the government
use
many populist policies including rice pledging scheme
lead
to using future money. The economic met the highest
point in the beginning of 2013and begin slow down,
household debt increase and became major problem
in economic growth.
We met political crisis again and the coup in May
22,2014.
The Prayut government try to reform Thaialnd and
stimulate
the economic in every sector but we still in slow growth
economic anyway and also in the Medium income country
trap.You can read more in “Thailand and Medium income
Country trap”.
Meanwhile after the crisis in world economic 2008 untill
now
the world economic still fragile.You can read more in “World
economic is fragile : How about Thai economic!?”
The export value which is the major revenue of the
country
decrease, however tourism from abord increase and
construction in
infrastructure increase also although
it can not speed up the economic as it
should be.
In my viewpoint,Thai economic does not in moribund
situation,
We still have potencial to growth.If the political
crisis can solve ,
we still more attractive for foreign investors.We should
prepare
ourselves a good infrastructure to serve it including
the least
boundary tax.
We should stimulate growth from internal business sector
investment and
the expenditure of the consumer also.
If we prepare and adapt ourselves to competitive in the
world
market we will never be the new sick man of Asia.
Hope political crisis can solve and we have a sustainable
economic.
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