Market Update 04/06
I thought that Thailand started working again mid May, no, there was another long weekend…for wife # whatever. Perhaps Thailand is a perfect example of what happens when there are too many holidays and people don’t work, it’s becoming the France/Italy of Asia. I believe that Prayuth and friends added 2 holidays, and if you throw in the “make up days” that’s an additional 4. Officially Thailand has 19 public holidays a year – so let’s say people are on holiday 30-40 days a year. This country operates no different from Europe.
Now to sa-tocksssssssss. I got nuthin’ to add, it’s crap, it’s approaching BV – divvy’s are becoming yummy again. We’ve had good runs again in the telcos and the electronic players – I just ask, when will the refineries move?
Paul Renaud
So true, its ever more holidays galore here. Were the “powers that be” believe it’s good for vacationers and weekend travelers while completely ignoring how then the whole rest of the country (90%) just stands still. While the number of government workers keep swelling.
peter satrapa-binder
regarding holidays: there IS a reason why thailand’s GDP growth has been lagging behind the ones of it’s neighbours – and competitors – for years now and it’s not been Covid or the USA-China trade war or other external factors. ok, it’s not only the holidays but rather the whole package – political matters and other things too.
and the comparison with europe – well, yes, europe’s current situation doesn’t seem to be very rosy either.
Pon
I know i know….
old population, missed further fdi with vn getting the eufta whilst prayuth and friends doing a coup cancelled that. expensive energy. high debt. poor governance and planning. a system that focuses on kissing a$$ compared to meritocracy, corruption %s increasing, whatever. Thailand is Malaysia 2.0 w/ Thai spices. I hate being right about this.
peter satrapa-binder
agreed, although methinks malaysia is doing better than thailand now.
Pon
Malaysia went nowhere under Najib and friends. It only started to wake up when the Sultan of JB became boss in 2023. That’s a 7-year time period and the currency dropped some -30% in the same time period. With friends, we have wondered if that is the only solution for Thailand – to knock the baht down to 40 and would it be enough to improve the rate of change.
peter satrapa-binder
at least malaysia finally woke up. thailand still has todo so. will it?
maybe THB 40.- to the USD or similar would get things going.