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Team Pheu Thai ERA Opens 4 Step Ladder Plan To Fight ERA If Winner Is Biden
Date 06 Nov 2020 Time 11:02
“Bhumro Jansakul” advises the government to prepare if Biden wins the US elections and opens a four-step plan to fight the economy.
On November 6 and 20, Mr. Pho Phum Rojanasakul, Deputy Secretary General of the Pheu Thai Party Director of the Academic and Policy Center of the Pheu Thai Party And the economic team of Pheu Thai Interviewed on the Thai economy If the winner of the elections presidential elections is Joe Biden,
If the winner is Biden The government must be prepared to face both the opportunities and the dangers that significantly affect the Thai economy. Proposing a 4 step stair plan to cope as follows
1. Fight the strong baht: Biden’s tough fiscal policy. But it will increase public investment that is more aggressive Causing the fiscal deficit to increase Causing the dollar to weaken That means stronger baht AND a very relaxed money measure Both factors contribute to the strengthening of the baht. Strongly affecting Thai exports The Bank of Thailand should take a proactive role in monetary policy. In the past, Thailand used conventional monetary measures against the unconventional form of superpower. Especially during COVID The BOT has to consider a monetary policy that is no longer only related to interests because there is little policy space left.
2. The production chain floats: COVID causes the reorganization of the global production chain. There are losers to leave. And new players have arrived. Biden’s arrival changed the format of the trade war. And relax Exports increased The golden opportunity will be for the Thai industry with a supply chain that connects Chinese products with the US and shipped directly to the US The government must compete for this gap. Because many of the players in this market have died from COVID. And it will recover quickly from the arrival of Biden. This is an opportunity that the government must seize. But if they don’t, they drop out of training
3. Hurry to get a production base: Biden’s policy on corporate tax increases AND raising the minimum wage As a result, capital and production bases will flow from the United States to emerging countries. What the government should rush to do is Accelerate the penetration of the target Accelerate the attraction of labor-intensive industries Affected by high taxes That tend to move the production bases Remember that pulling the production base cannot wait for it to come . Or even using privileges, the temptation is not enough But you must work proactively, rush to achieve the objectives and speed up negotiations
4. The prime minister resigns, amending the constitution: the commercial conquest of the United States will pass from the “tax on profits” of the Trump era. It will pass to the use of “democracy, human rights, freedom” expressed in Yud Biden. This is a major weakness of Thailand. And it will become a great excuse that the Thai economy is in trouble in the Biden era. You must eliminate weaknesses The prime minister has to resign. It must amend the constitution. It must be a real democracy.
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