Thailand’s Emerging Economy and its Currency the Thai Baht
Thailand, formerly known as Siam, is a newly industrialized country located in central Southeast Asia. Thailand was never colonized by Europeans, as were the other Southeast Asian nations, and the country provided a buffer in the region between English and French spheres of influence. Furthermore, although invaded by Japan during World War II, Thailand became an ally of the United States after the conflict.
Malaysia is currently structured as a constitutional monarchy, with the hereditary head of state being King Bhumibol Adulyadej who has reigned since 1946. The country has a Prime Minister as the head of government and a bicameral legislature consisting of a Senate and House of Representatives. Nevertheless, a recent political crisis has resulted in considerable political system changes and even violent protests by the Red Shirt opposition movement in 2010.
Historically, a 1932 revolution by the Khana Ratsadon officials forced then King Prajadhipok to give up his absolute monarchy and provided the Siamese people with their first constitution, of which there have now been seventeen. The country’s constitutional government has since ranged from a military dictatorship to an electoral democracy, but a recent military coup in 2006 abolished the constitution under a declaration of martial law that was partially revoked in early 2007, with a new constitution approved by August of that year.
The national language of the country is Thai, and the primary religion of Thailand is Theravada Buddhism that accounts for over 94% of the population, with most of the balance Muslims (4.6%).
Thailand has significant ethnic diversity, with the largest ethnic group consisting of Thais that make up roughly 75% of the population. In addition, 14% of the population is Chinese, 3% Malay, and the rest are minorities that include the Mons, Khmers and some hill tribes.
Economic Overview of Thailand
Thailand is a newly industrialized country for which exports currently make up roughly 2/3 of GDP. Its economy ranked 30th worldwide in 2010 in terms of its nominal GDP of $312.6 billion. The country also ranked 24th worldwide in 2010 in terms of purchasing power parity or PPP GDP that was then at $584.8 billion, and it showed an impressive annualized GDP growth of +8% in 2010.
Roughly 44.5% of the country’s GDP is produced by its industrial sector, with 44.1% from services, and 11.4% coming from agriculture as of 2010. Particularly important areas of industrial activity within the Thai economy include the manufacture of autos, auto parts, appliances, components, computers, furniture, plastics, textiles, garments and beverages, in addition to tourism, cement, agricultural processing and tobacco growing.
Inflation in Thailand is running at a similar level to that seen in most industrialized nations, with its level estimated at 2.5% in 2010. Furthermore, the country has one of the lowest rates of unemployment in the world, with the unemployment rate among the Thai population of roughly 66 million people estimated at an exceedingly low 1.2% in 2010.
Despite recent political instability, Thailand benefits among emerging market countries from high foreign investment and consumer confidence.
Thailand’s Currency – The Thai Baht
The currency used in Thailand is known as the Thai Baht, and its ISO 4217 code is THB. Each Baht is further divided into 100 satang, and currency has been in use under that name as legal tender in Thailand since the 1800’s.
In terms of Thailand’s currency’s availability to small business loans, many online brokers do not yet accommodate loaning in the Thai Baht, even on demo basis. Nevertheless, the market is active among the exotic currencies in the interbank market.
Thursday, April 21, 2011
MARC FABER NEWS
Dr. Doom? Marc Faber Sees Stock Buying Opportunity
The dean of doom, Marc Faber, told CNBC on Tuesday that a variety of asset classes—including equities—may be worth buying for short-term gains. In the midst of market volatility on concerns over Federal Reserve tapering, he said, "Treasury bonds ...
Marc Faber aka Dr. Doom: S&P 500 Index Could Fall 20% To 30% Easily
Dr Doom warns stocks are oversold but S&P readies for another drop
Marc Faber Forecasts 30% Stock Market Crash, Says Buy Gold
The Market Oracle
The Fed's 'tapering' comments have ramped up market volatilaty and Faber gives some advice for short and long-term strategies. For example: ""The best course of action is to actually not buy anything, but rather to reduce positions on a rebound," Faber ...
Marc Faber: Bull in the short term, bear in the long term
... so perhaps it's best left to someone who has historically said “sell.” Marc Faber, author of the ”The Gloom, Boom & Doom Report,” and often called “Dr. Doom” because of his bearish sentiment, says there are buying opportunities — at least in the ...
Marc Faber: Gold a possible canary in the deflation coalmine
Here's what Marc Faber, editor of Gloom Boom Doom report told MarketWatch in an email. “Maybe gold is signaling a deflationary collapse of all asset prices. If this were indeed the case I suppose I would rather own gold than government bonds, high ...
MARC FABER: The Way Things Are Going, Bernanke Will Have To Give Us 96 ...
"Incredibly Bad Sentiment" Makes Gold & Bonds a Buy Says Marc Faber, as All ...
“Sentiment on Gold and Bonds Incredibly Negative” – Marc Faber Predicts ...
Marc Faber Sees Further Downside
China's factory output weakened to a 9-month low today, and financials saw a huge sell-off today, with the FM traders; and The Gloom, Boom and Doom Report's Marc Faber, shares his economic outlook. There's plenty of room for the stock market to decline ...
Marc Faber: More S&P downside, commodities 'horrible'…except gold
Marc Faber says 'thanks' to Bernanke
[An earlier version of this blog mistakenly attributed the comments to Marc Faber's blog. The original comments were made in an interview with Barron's on June 1. The comments were picked up Tuesday in a tracking blog that aggregates Faber's public ...
Dr. Doom Marc Faber: Don't Bet on New Market Highs
Faber said large cap stocks like McDonald's, Coca-Cola, Procter & Gamble and Wal-Mart "have most likely peaked." However, he thinks there are still stocks that show strength that could continue to appreciate "because all the money flows into fewer and ...
Marc Faber Is Glad He Owned Stocks, Even As He Warned Everyone Of Stock ...
"People with assets are all doomed, because prices are grossly inflated globally for stocks, bonds, and collectibles," says the investment advisor in a new interview published in this week's Barron's. But Faber is the first to admit that at least the ...
Marc Faber notes liquidity squeeze depressing stocks but still buying gold
Famously contrarian in his approach, Dr. Faber is usually out of step with Wall Street but has an excellent reputation for calling the major market turns. He does not say he is shorting equities, though he notes emerging market equities and currencies ...