| Economic review YEAR-END 2009 |
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| Price $ 6.00 |
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Is that a V for victory that the PM is showing off? After all, he’s survived a full 12 months on the hostile planet that is Thai politics. Or is he illustrating the supposed shape of the economic Recovery we keep hearing about?
If we were to expand the PM’s PowerPoint slide a few months into the future, would the V turn to a W, with another dip to follow the upward blip that’s lifted spirits, if only modestly, over the past few months? The government is hoping that big spending will keep the indicators moving up.
But building roads and rail tracks or strong-arming hospitals into buying expensive hardware they don’t need are hardly the be-all and end-all of a viable economic recovery.
Building confidence remains the key. A good start would be to resolve the legal mess that has stalled tens of billions of baht worth of industrial investments at MapTa Phut. Passing laws that are
two years overdue—why didn’t anyone notice?—would help.
Enforcing laws fairly and consistently, without fear or favour, would be even better. That may be too much to hope for in Thailand, but it would do wonders in terms of moving those indicators in
the direction the PM wants them to go.
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OVERVIEW
Shaky rebound stays on track
Encouraging indicators toward end of 2009 may give way to more sobering news as global economy struggles to find its feet.
By Parista Yuthamanop
STATE SPENDING
From strength to strength
While Thai Khem Kaeng stimulus programme might come at a considerable price,
By Wichit Chantanusornsiri
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INVESTING
Lucrative alternatives
Diverse asset classes will continue to draw Thai investors in 2010.
By Darana Chudasri
STOCKS & BANKING
Outlook still hazy
Despite an impressive upswing in 2009, stocks remain
at the mercy of politics, Map Ta Phut solutions and 3G auction.
By Pornnalat Prachyakorn |
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PROPERTY & RETAILING
Local demand to spur property market
Foreigners will need more convincing as both the recession and local politics
continue to weigh on sentiment.
By Kanana Katharangsiporn
Improvement in store
Retailers see traffic rising toward year-end.
By Pitsinee Jitpleecheep
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STATE ENTERPRISES
Time for a tune-up
As major engines of economic growth, state enterprises vary widely in terms of performance and future prospects. Some will need a massive overhaul.
By Wichit Chantanusornsiri
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INDUSTRY & THE ENVIRONMENT
A delicate balancing act
With industrial development on the one hand and the well-being
of people on the other, the government is facing a most unenviable task. Will there be a happy ending any time soon?
By Busrin Treerapongpichit
Applying damage control
Trust, sincerity and law enforcement are needed to break the impasse.
By Busrin Treerapongpichit
Development at any cost?
After years of being neglected, the villagers have no choice but to play hardball to get their voices heard.
By Yuthana Praiwan |
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CREATIVITY & INNOVATION
Building on creativity
Thailand is scaling back reliance on mass production, passing the torch to ideas and services to drive future growth.
By Chatrudee Theparat |
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THE ENVIRONMENT
Unified action key to tackling climate change
Global warming poses a greater threat than global recession.
By Nareerat Wiriyapong
Corporate budgets turning greener
Businesses ready for the financial costs of mitigating global warming.
By Nareerat Wiriyapong |
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AGRICULTURE & FOOD
Seeds of reform
Costly and market-distorting price supports give way to a more rational approach to helping farmers.
By Phusadee Arunmas
More cash for crops
Farm product prices poised to surge on thinner supply.
Phusadee Arunmas
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PUBLIC HEALTH
More than just a sneeze
The H1N1 epidemic was a windfall for the Thai health-care industry.
By Busrin Treerapongpichit
Unorthodox cure
Hospitals, especially those catering to foreign tourists, were expecting a sickly year ...but that was before H1N1 pushed up patient demand and revenues.
By Vichaya Pitsuwan
An ounce of prevention
The first clinical trial has begun on locally produced vaccines.
By Nareerat Wiriyapong
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TOURISM
A nice place to visit but ...
As tourism industry struggles through rough patch, leaders ponder how to pitch Thailand as a safe and sustainable destination.
By Chadamas Chinmaneevong
Gloom at the inn
Hotels resort to price war even though they admit the quick-fix response is not a good long-term cure.
By Chadamas Chinmaneevong
Wings clipped
Recession hit civil aviation industry hard and more turbulence lies ahead as recovery outlook is cloudy.
By Boonsong Kositchotethana
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TELECOMMUNICATIONS
Network Busy
Consumers and businesses may have to wait another year or more for the rich promise of 3G communication.
By Komsan Tortermvasana
Ready, willing ... and frustrated
Private operators keep revising their financial plans as successive delays make 3G start difficult to predict.
By Srisamorn Phoosuphanusorn
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AFTERWORD
Back from the brink ... but watch your step
A year the world’s biggest economy would rather forget.
By Julie Creswell
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