Economics
Low prices of farm goods raise concern
Government and opposition MPs debated the low prices of rice, rubber, oil palm, longan, maize, coconut, sugarcane, onion and garlic as well as marine products.
BANGKOK, 06 July 2019 (NNT) -The House of Representatives has considered urgent motions on the low prices of farm goods and resolved to set up a 39-member extraordinary House committee to look into the the matter.
The House of Representatives yesterday continued to deliberate 11 urgent motions lodged on the issue of low prices of farm goods.
Government and opposition MPs debated the low prices of rice, rubber, oil palm, longan, maize, coconut, sugarcane, onion and garlic as well as marine products.
The MPs pointed out various factors that reduce prices, including inadequate water, the high costs of production, the lowering of the prices by Chinese traders who have bought up large volumes of farm products and reducing the bargaining power of farmers and imports of unlimited volumes of farm goods.
The House of Representatives resolved to set up the extraordinary House committee to look into the problems and propose concrete solutions. The MPs called on the government to bring the Chinese traders under control.
The extraordinary House committee has 39 members, consisting of 20 government MPs and 19 opposition MPs and has been given a 60-days timeframe to work on the issue.
Economics
Finance Ministry cuts economic growth outlook to 2.8%
The Ministry of Finance has now cut the country’s economic growth outlook to 2.8%, from the previous 3%.
BANGKOK (NNT) – After three quarters, the global economic slowdown and the ongoing trade war between China and the United States, are still having an adverse impact on the Thai economy.
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We’ve entered the Asian Century and there is no turning back
In the nineteenth century, the world was Europeanized. In the twentieth century, it was Americanized. Now, it is being Asianized – and much faster than you may think.
Asia’s rise has been swift. Home to more than half of the world’s population, the region has climbed from low- to middle-income status within a single generation. By 2040, it is likely to generate more than 50% of world GDP, and could account for nearly 40% of global consumption.
(more…)Economics
EIC Export growth forecast for 2019 is maintained at -2.5%
Without a clear signal of export recovery, EIC views that during the 4th quarter of 2019 the export contraction momentum will continue
Although China and the US reached a preliminary trade agreement on October 10-11, 2019, the ongoing trade war should still drag on, pressuring export growth throughout the remainder of the year. Hence, EIC maintains its -2.5% export growth forecast for 2019.
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