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What do Thai youth think about the future and their country’s priorities?

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Thailand has come a long way and represents an impressive development story: it has drastically reduced the number of poor people from nearly 70% of the population in 1986 to 11% in 2013 and its economy grew at an average annual rate of 7.5% in the late 1980s and early 1990s, creating jobs that helped pull millions of people out of poverty.

However, challenges remain as there are still 11% – 7 million – of the population living below the poverty line, and another 7 million or so who remain highly vulnerable to falling back into poverty. Although inequality has declined over the past 30 years, the distribution in Thailand remains unequal compared with many countries in East Asia. Significant and growing disparities in household income and consumption can be seen across and within regions of Thailand, with pockets of poverty remaining in the Northeast, North, and Deep South. Today, the Thai economy faces headwinds, and growth has been modest. Export competitiveness is sliding, and a severe drought is expected to weigh on off-season rice production. Poverty is expected to continue to fall at a slower rate, with poor households concentrated in rural areas affected by falling agricultural prices. The country is now at a critical time since the new draft constitution won approval by a majority.

“What do you hope for Thailand’s future?” was a question we asked Thai youth earlier this year as part of the World Bank’s nationwide engagement process in developing the  Systematic Country Diagnostics for Thailand, a study that aims to identify development priorities to end extreme poverty and share prosperity widely.

Apart from a series of public engagement meetings with stakeholders from local government agencies, civil society, NGOs, academia and the private sector, we also kicked off a special way to gather the views of Thailand’s younger generation and to encourage them to be part of the dialogue on what they hope for the country.
 
A ‘Wall of Hope’ backdrop was set up at universities in Bangkok, Pattani, and Chiang Mai, and a public space in Udon Thani, to gather and ensure voices from different regions were included.  More than 500 Thai youths were asked to write down on a postcard their own personal views on what they think are Thailand’s development priorities.

Their responses and concerns covered a vast array of development issues that the country is already working on. What the youth mentioned offers  perspective and brings to the spotlight several challenges that remain dominant in the minds of many across the country, such as access to quality education, reconciliation across social and political divisions and an effective law, justice and democracy, human rights and equality.  
 

Differences between rural and urban youth

In Bangkok: Living in the capital city, a majority of youth hope, first and foremost, to see true reconciliation across social and political divisions. Seeing their conviction for significant change and that the country and its people will be stronger together was incredibly inspirational.

“I hope Thai people…

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Business

Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24

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Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.


Southern Sun Earnings Surge

Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.

China’s Property Market Recovery

In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.

Broader Economic Implications

The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.

Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24

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Business

News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000

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Asian markets showed mixed trends amid China’s stimulus measures and disappointing inflation data. Meanwhile, Indian equities remained stable, with mutual fund inflows rising. Bitcoin surged following Trump’s presidential win.


Business Hook Daily News Podcast

Good evening! Welcome to Business Hook’s daily news podcast. I’m Avni Raja, and today is November 11, 2024. Let’s dive into the day’s top business stories.

Market Reactions and Economic Data

Asian markets experienced a mixed session as investors digested new economic data and stimulus measures from China. The Chinese government announced a $1.4 trillion package targeting local government debt, although analysts deemed it underwhelming. October’s inflation rate of 0.3% fell short of estimates and declined for the second month in a row. As a result, the CSI 300 saw a slight gain, while Hong Kong’s Hang Seng dropped over 1.5%. In India, the Sensex closed below 74,500, and the Nifty ended above 24,100, with a majority of Nifty stocks declining.

Mutual Fund Inflows and Upcoming IPOs

There’s encouraging news in the mutual fund sector, with October seeing net inflows of 2.4 lakh crore rupees, reversing the previous month’s outflows. Record equity inflows have risen to nearly 42,000 crore rupees, reflecting robust domestic investor confidence. In the IPO space, LG Electronics prepares to raise $1.5 billion by listing its Indian arm, with banks like Axis Capital involved in the process, potentially leading to an IPO as early as 2025.

Cryptocurrency Surge

In cryptocurrency news, Bitcoin has achieved new highs, surpassing $82,000. This surge is attributed to Donald Trump’s recent presidential victory, which has favored cryptocurrencies compared to more cautious Democratic approaches. Experts speculate that Bitcoin could surpass $90,000 soon. That’s all for today’s wrap-up. Join us again tomorrow, and check out the Business Hook YouTube channel for more updates.

Source : News Wrap | China Stimulus Disappoints; Sensex & Nifty Slip; Bitcoin Soars Past $82,000

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Business

Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape

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Henry Keswick, 86, a key figure in Jardine Matheson, passed away as the U.S. awaited election results, amid heightened tensions in U.S.-China relations during Trump’s presidency.


Henry Keswick’s Legacy

HONG KONG — The world turned its attention to the U.S. presidential election as news broke of Henry Keswick’s passing at the age of 86. A fourth-generation member of the British conglomerate Jardine Matheson, Keswick had a profound influence on the company, which has deep roots in Asia.

Navigating Challenges

Keswick’s leadership spanned significant challenges, including a strained relationship between the U.S. and China, particularly as Donald Trump prepared for his return to the White House. Under his stewardship, Jardine Matheson navigated a complex landscape in retail and real estate that dovetailed with geopolitical shifts.

A Lasting Impact

His contributions to Jardine Matheson and the broader business community have left an indelible mark. As companies reposition themselves amidst evolving international dynamics, Keswick’s legacy will undoubtedly continue to shape the future of the conglomerate he led.

Source : Henry Keswick, the Jardines scion who razed then restored China business

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