Export crash : “mummy it’s not my fault… other countries are in the same situation”

The exports of other countries have also continuously declined, not only Thailand, due to impact of global economic recession, permanent secretary for the Ministry of Commerce Siripol Yodmuangcharoen said on Saturday.

Mr Siripol gave examples that the exports of China dropped 26.3 per cent in May, while that of Taiwan, South Korea and Japan declined by 31.4, 28.5 and 41 per cent respectively.

Previously, the permanent secretary reported that the country’s export value over the first five month of the year stood at 55 billion US dollar, a decrease of 22.9 percent from the same period last year. The export value in May was 11 billion US dollar, about 26.6 per cent lower than May 2008. (Bangkok Post)

Pathetic little bureaucrat !

Spineless, empty, void… Oh my god, such people make me so upset. It’s bad for my heart. 😉

This clown should tell us why he was playing with stupid targets, grossly overvalued, when data from other countries (like China) received before were pointing to the same direction : down ?

With his 3 neurons, he should gather information, real data, and use his logic (and read this blog) instead of trying to please his masters (Abhisit and all the other politicians).

This dumbass must understand that thai’s exports won’t fire up again, unless other countries start to… import. The Peak Export is behind us.

There are NO NEW MARKETS on this planet, no miracle untapped markets. Thai businesses are not going to export their products to Mars or Jupiter, or to a unknown tribe in New Guinea !

It’s economy 101. But apparently too complex for the people working at the Commerce Ministry.

There is still a crisis of solvent demand… the financial crisis is not solved… a secound round is cooking behing… the system still suffers from the same imbalances. We are still deep into the Rabbit Hole.

There are no Green Shoots. No recovery.

Only fantasies and dreams.

2 Responses to “Export crash : “mummy it’s not my fault… other countries are in the same situation””

  1. 1 Pricilla 20 June 2009 at 5:58 pm

    Thailand’s economy is heavily reliant upon exports, an economic model that has served many countries well. As such it isn’t rocket science to predict that if exports dry up there will be problems.

    Export driven economies like Thailand rely on cheap but trainable labour for factories the foreign multinationals setup here. Problem seems that to have a better domestic consumption market for goods as a bit of a buffer then workers need to earn better money, thus defeating the low cost labour model.

    For all that though Thailand does need to diversify away from just supplying a workforce for multinationals. The tourism has always been a good money spinner however that has suffered from the financial situation as well as being domestically sabotaged through abject stupidity, visa headaches and years happily abusing tourists thinking the gravy train would never end.

    Thailand suffers the same as many countries, leadership with no vision to the future, no plan longer term than the next election. Add to that a corrupt and inefficient bureaucracy, army and police force and all you will ever see is a stampede of snouts trying to get in the trough.

    I recall my ex-wife wanted her useless sons to join the bureaucracy, army or police force, seems on that point she was right.

  2. 2 Michael 21 June 2009 at 11:48 am

    Add to that a corrupt and inefficient bureaucracy, army and police force and all you will ever see is a stampede of snouts trying to get in the trough.


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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