Online Discussion #1: News Sharing Session

Thailand ups sugar price by 4 baht to sweeten domestic market.

Summary:
A new factory price of sugar before VAT was released by the Office of the Cane and Sugar Board of Thailand, and it will go into effect on October 28, 2023. White sugar will now cost 23 baht per kilogram, up from 19 baht, while refined white sugar will cost 24 baht per kilogram, up from 20 baht. A 4 baht per kilogram factory price increase on sugar has been implemented to support farmers and guarantee a sufficient supply of sugar for local food makers.  

Why it's interesting/important?:
Sugar price increases have a large influence on the household sector and small enterprises. Firstly, people and households may be forced to face the burden of rising living expenditures because sugar price increases have an impact on the higher costs of businesses.  Moreover, Profits in the food industry, especially in the sweets sector, may be relatively limited. Therefore, sugar producers may benefit from the news of a rise in sugar prices. However, these benefits are derived from the household sector and small businesses that are unable to pass on the cost.

Reference:
[1] https //www bangkokpost.com/business/general/2678983/sugar-producers-issue-warning-on-price-cap
[2] https //www tasteofhome.com/article/how-is-sugar-made/

Summary:
    The Philippine central bank will likely leave its policy rate steady at next week’s meeting, despite the economy growing at a faster-than-expected pace of 5.9% on year in the third quarter. According to the report, the inflation in october was softer than expected and Philippine's Peso is strong against the U.S. .
All in all, there is no urgent need to hike. The central bank took an off-cycle action in late October, raising the benchmark interest rate by 25 basis points to 6.50%.

Why it's interesting/ important:
     From the news, the Philippine central bank's reaction to the economic growth is one of the interesting topics the students of macroeconomics class should learn. This news leads to the questions about why the Phillipine central bank made such strategy.

Ref:
https://www.wsj.com/articles/philippine-central-bank-likely-to-stand-pat-despite-robust-gdp-growth-3cbcfa4a?st=jeerygpmi5d1mwp&reflink=desktopwebshare_permalink

Summary:
Australia and Tuvalu have made a deal to be better friends, and they're focusing on a few things like safety, people moving between the two countries, and dealing with climate change. The agreement says that Australia will create a special way for people from Tuvalu to come to Australia to work, study, and live, starting with up to 280 people each year. Tuvalu, a small island with around 11,000 people, is in trouble because of climate change, especially the rising sea levels. The deal also means that Australia will help Tuvalu if there's a big natural disaster, health problems, or if someone tries to harm them.

Why This News is Interesting/Important?
It highlights a special agreement between Australia and Tuvalu showing that they are working together on three important things: climate change, migration, and economic considerations. Tuvalu has problems from climate change, and Australia is helping by letting some Tuvaluans live and work there, which can provide them with better opportunities. The deal shows that Australia and Tuvalu want to be good friends and support each other during tough times. They're working together to solve problems, especially about the environment and rising sea levels, which is important for the economy. The agreement highlights the idea of countries working like friends in a team, stressing that everyone needs to help to avoid problems and take care of our planet. Overall, it's about nations teaming up to face big challenges and keep things stable economically.

Reference:
cnbc.com/2023/11/10/australia-offers-refuge-to-tuvalu-residents-threatened-by-rising-sea-levels.html

Olympic Games 2024 set to boost tourism spending in Paris by up to EUR 4 billion

Summary
Euromonitor International's Alexander Göransson expects the Paris 2024 Olympics to bring in 15 million spectators, including locals and day-trippers, plus an extra 3 million visitors. Olympic guests tend to spend more, benefiting places to stay, especially short-term rentals. However, non-Olympic tourists might face disruptions at famous sites, museums, and tours. Paris airports may get busier, but the city's fast trains can help. Paris is working to make the Games eco-friendly. If Paris 2024 succeeds, Göransson believes it will boost tourism after the Olympics, helping the overall economy starting in 2025.

Why is this news important?
The Paris Games will start next year, and Thailand will have a lot of athletes participating. Furthermore, the Tokyo Games, Olympics 2020, operated under COVID-19 conditions, with no spectators. The Paris Games will be the first games after the pandemic.

Reference
https://www.euromonitor.com/press/press-releases/nov-2023/olympic-games-2024-set-to-boost-tourism-spending-in-paris-by-up-to-eur4-billion-euromonitor-international

Summary:
      Americans are still spending more of their money on stuff than they did before the pandemic. There is little reason to think that is about to stop. Because of the pandemic, the trend of working from home is rising. This lead to the less spending on some services such as public transport and more spending on the used-at-home stuffs.

Why it's interesting/important:
       The change of individuals' spending after the covid 19 pandemic has a huge impact on the producers and goverment. For example, the reduced public transport usages will lead to the decline of income in the government sector. Furthermore, working from home will lead to the increasing of intensities in the online market.

Ref:
    https://www.wsj.com/economy/consumers/how-work-from-home-has-reshaped-what-americans-buy-e4c881e5?st=9x9vygthtkiynqe&reflink=desktopwebshare_permalink

Assassination of John F. Kennedy

Summary

John F. Kennedy, the 35th president of the United States was shot while he traveled to Dallas, Texas to campaign for the next presidential election with his wife (Jacqueline Kennedy) on November 22, 1963. The suspect was Lee Harvey Oswald, a former U.S. Marine who was interested in Marxism.

Why Is This News Important?

Interestingly, John F. Kennedy was a man who took the economy very seriously. Although initial tax cuts and appeals to the Federal Reserve to decrease interest rates were rejected by Congress, He was able to solve the preliminary problem by having the central government pay faster, especially in high-unemployment areas. which caused the economy to recover in 1961.

Subsequently, he proposed tax reform, which was rejected again by parliament. However, this action still influenced the parliament to approve an increase in social security and an increase in the minimum wage. This greatly helps the United States economy.

Kennedy persuaded investment strategists to demand increased wages and the result was workers' pension money.

There has been an increase in the price of steel. This led Kennedy to order the Justice Department to investigate the steel companies and to ask the Internal Revenue Service to investigate the actions of steel executives causing pressure on the company. The price of steel returned to its original state.

The most important was the tax-cutting policy that Kennedy pushed for. Finally, after much opposition. In August 1963, the congress finally approved the tax reduction bill. Unfortunately, the bill was passed after the death of the president.

Impelling the policy of politicians or the government has a great help in stimulating the economy. Consider Kennedy as a study case, he helped the US economy recover, although not significantly. However, his actions count as promoting. Unfortunately, Kennedy's death and the other policies that would be promoted in the future were facing the end.

Reference:
[1] https://www historycentral.com/JFK/bio/Economy.html
[2] https://www britannica.com/event/assassination-of-John-F-Kennedy

Sri Lanka is facing an economic and political crisis.

Summary

A crisis that has dragged on until today. Experts say it is caused by government mismanagement and unexpected misfortunes like the Covid crisis. Both have led Sri Lanka to a huge deficit. The government solves mistakes by issuing tax reduction policies to stimulate the economy but unfortunately, it results in meager government revenue. Foreign currency reserves have been used to pay down government debt, causing the price of imported fuel and essential goods to skyrocket. Sri Lanka therefore had to devalue its currency to qualify for loans from the International Monetary Fund (IMF) and support remittances to their own country. However, the result has been a worsening situation for Sri Lankans following the fall of the rupee.

Why Is This News Important?

We can see that the consequences of mismanagement lead to economic hardship. Some people were affected by what happened. Some shops were forced to close due to lack of adequate power. Sri Lankans had to queue for government-allocated propane gas. More expensive food prices. The population is unemployed due to lack of fuel for their careers or even having to endure an environment where the power goes out frequently and sometimes for as long as 10 hours. Leading to protests by the people. The irresponsibility of the government, for example, the entire cabinet of the government was dissolved due to the resignation of the top minister. Sri Lanka has now solved the problem by seeking financial support from the IMF and turning to regional powers that might be able to help.

The consequences of mismanagement and over-reliance on the tourism system have led this country to face a crisis. This has taught us to learn from it and not to follow in their footsteps.

Reference:
[1] https //edition cnn com/2022/04/05/asia/sri-lanka-economic-crisis-explainer-intl-hnk/index.html
[2] https //youtu be/vmSe_uIYTJI?si=myDypXc3K4Gebcko

Summary : Before the actual selection happened, the stock has been rapidly changing day by day. So a shareholder hopes that after a prime minister selection will bring up the value of the stock, but then after the selection the result appears to be “The orange team candidate” got the most votes and the hope of the shareholders was shattered because the stock price just kept decreasing by -20 point. For example, TRUE -16.99% GULF -9.52% and CPALL -7.14%. The financial expert said  due to the policy of the orange candidate that will change and solve structural problems to reduce the monopoly of domestic business has affected the investor’s interest in Thailand.

Why it’s interesting/important : it is actually important to Thai economic because the gdp of the country will drop and the prime minister team have to come up with the solution that will bring up the gdp (which they did, this mention to the current prime minister, the solution is bring in more travelers mostly chineses to raise the gdp)

Reference :https://workpointtoday.com/why-thai-stocks-do-not-rally-after-the-election/

Summary:

'Land Bridge' is one of the large-scale projects. The goal is to facilitate the loading and unloading of goods. Help shorten the distance across the Andaman Sea to the Gulf of Thailand. To be a center for the energy business and petrochemical industry and increase the employment rate in the region. It is a project to construct two deep-sea ports on both sides of the sea, namely a deep-sea port on the Gulf of Thailand in Chumphon Province. and the deep sea port on the Andaman coast in Ranong Province, with a route linking the two ports to reduce the transportation time of goods, reduce distance, save time, and save on transportation costs.

Why the news is interesting/important?:

The reason why this news is important is because it will affect and help elevate the overall picture of the Thai economy, that is, elevate Thailand to become a regional water transportation hub that will affect the economy at both the micro and macro scales, for example.
1. Better and faster transport of goods in Thailand: As a result, the area will have a large increase in trade and transportation, and this increase will also improve the overall economy of the southern region in that area because it is a point where foreigners include a large number of people and organizations involved in transportation and trade.
2. Labor market: From the first impact of developing a new trade center, the demand for the labor market and related occupations will also increase, such as guides, interpreters, and laborers, as well as new occupations in the community in that area. It will also increase, resulting in the well-being and economic conditions of Thailand being better.
3. GDP: The fact that people can create more careers from development in related areas, will result in a lower unemployment rate for Thai people within the country, and at the same time, it will result in a higher employment rate as well, which will result in the GDP of Thailand increasing as well.
4. Investment: Due to being an important point for transporting goods, Thailand will become a country with more opportunities for economic growth, and this reason will result in being able to be an attraction or point of interest for foreign investment.
5. Raise the quality of the economy and the quality of life of the people. From the above reasons regarding the economy, which tends to get better, it will result in the quality of life and society of Thailand improving in the big picture in order.

Reference:
https://thestandardco/land-bridge-srettha-government-dream-project/
https://wwwkomchadlueknet/quality-life/well-structured/555953
https://wwwbangkokpostcom/thailand/special-reports/2652227/land-bridge-megaproject-still-on-the-burner

Summary : Nayib Bukele, the president of El Salvador has lost around 50 million dollars (50%) in investing in bitcoin after setting bitcoin to be the actual currency, the same as the US dollar in their own country. He said to the interviewer that he isn't worried at all about losing half of the money because the actual value of bitcoin is still there, it doesn’t go anywhere he said. The value will rise in the future and it actually didn’t affect the economic system at all, the money that he invested was just 15% he also said. For now, we just can’t conclude that this is the wrong or the right decision he made.

Why it’s interesting/important : It is interesting that this is a very rare decision and it is quite risky from the president of the country to have confidence to do this thing because other countries can’t bear the risk and bring it on to be the actual currency.

Reference : https://cryptosiam com/news/nayib-bukele-talk-about-bitcoin-grow-up , https://www efinancethai com/LastestNews/LatestNewsMain.aspx?release=y&ref=M&id=bFlYbGR5cS9EdXM9

Government urges Thais to take ‘best care’ of Chinese visitors in order to rebuild confidence




Summary

A 14-year-old boy shot dead two Chinese tourists and injured five others in Siam Paragon, Thailand. The incident has caused negative sentiment towards Thailand, with predictions of 50% of Chinese trips being canceled. The Thai government has offered visa-free entry to Chinese and Kazakhstan tourists for a 30-day stay between September 25 and February 29 to attract more Chinese tourists. The visa-free policy is expected to boost the number to 4.2 million by year-end.

Why the news is interesting/important
1. This incident will cause a group of Chinese tourists to worry about their safety because the incident happened in a famous mall in the center of Bangkok. This is expected to have a direct impact on the revenue of retail and tourist firms. As a result, investors should be cautious of this short-term risk. UOB is hopeful that the situation will improve in the medium term.

2. Income from China has decreased, especially in sectors related to tourism. At present, we can see that due to China's demand, many companies have launched massage services that only support Chinese tourists. In the past year, China's tourism industry, hotels, restaurants, and even hotels have been severely affected. Therefore, it can be said that the growth of the tourism industry is an important component of helping China's GDP growth.

Autoworkers hesitate on new contracts despite 'record' pay increases



Summary
Workers at Ford, Stellantis and General Motors are reconsidering news contracts offered by their unions and the Big Three since a few of them are unhappy with the offers. If majorities at each automaker accept, the agreements will go into force, with union members receiving an 11% initial wage increase and a total pay increase of 25% over the duration of the 4.5 year deal.  
The new contracts will reintroduce cost-of-living increases, allow workers to earn maximum pay in three years rather than eight, and protect workers' right to strike over factory closures.

Why is this news important/interesting?
1. Negotiation Power - Workers going on strike and rejecting the term of the new contract could make it harder for the company to renew contracts in the future if the offer isn't satisfying enough, meaning the company has less negotiating power. Moreover, it may affect not only the workers involved. But it also sets a precedent for other labor negotiations in the industry.
2. Showing Labor Issues - This situation can present the larger labor issues in the automotive industry, results in less demand for working in this industry. Also, It could become a focal point for concerns about fair wages, working conditions, and other elements of manufacturing employment.
3. Industry Impact - The automobile industry is a significant element of the economy, and changes in labor relations at big corporations such as GM can have expansive consequences for the industry as a whole.

Reference
(https://www).nbcnews.com/business/business-news/uaw-members-reject-new-contract-gm-flint-michigan-rcna124611

Worried Chinese shoppers scrimp, dimming the appeal of a Singles’ Day shopping extravaganza




Summary:
China's annual Singles' Day (also known as double11 or 11.11) online retail extravaganza, popularized by e-commerce giant Alibaba, is facing challenges due to faltering consumer confidence. A Bain & Company survey of 3,000 Chinese shoppers found that over three-quarters plan to spend less this year or keep spending level due to uncertainties over the economy. This includes Shi Gengchen, whose billiard hall business in Beijing's trendy Chaoyang district has slowed.

Chinese consumers were much more eager to splurge before COVID-19 hit in 2020, spending $38 billion in 24 hours on Alibaba's e-commerce platforms during Singles' Day in 2019. However, the Chinese have become much more cautious over splashing out on extras, with analysts saying that shoppers are likely to pick up deals on daily necessities like toothpaste, tissue paper, and laundry detergent, rather than high-end cosmetics and luxury brands. E-commerce platforms are emphasizing low prices for this year's festival, hoping to attract value-conscious customers looking for good deals. Furthermore, JD.com reported a record transaction volume, order, and user numbers during the festival, with more than 60 brands recording over 1 billion yuan ($137 million) in sales. Business volumes for express delivery service providers also hit a new record during the festival.

Why it is interesting/important:

1. Insight into Economic Trends: The news provides insight into the current economic conditions in China, particularly how consumer confidence is being affected by concerns about income. This is important for understanding broader economic trends and the impact on businesses.

2. Impact on Retail Extravaganza: Singles' Day is a significant annual online retail event in China, and it's interesting to see how consumer behavior is changing in the lead-up to this event. The fact that a significant number of Chinese shoppers plan to spend less or keep spending at the same level reflects a cautious approach, possibly driven by economic uncertainties.

3. Shift in Consumer Behavior: The news highlights a shift in Chinese consumers' behavior, with people becoming more cautious and selective in their spending. The observation that consumers are now more focused on essential items rather than luxury goods indicates changing priorities and a more practical approach to shopping.

4. E-commerce Strategies: The strategies employed by e-commerce platforms, such as emphasizing low prices, reflect the changing consumer mindset. The article mentions the focus on "value-conscious customers looking for good deals," and the success of these strategies is reflected in the high transaction volumes as reported by JD.com.

5. Global Economic Implications: China is a major player in the global economy, and any shifts in consumer behavior and spending patterns in the country can have ripple effects globally. Understanding these trends provides valuable insights for businesses and policymakers worldwide.

Reference:
(https://) abcnews go com /Business/wireStory/worried-chinese-shoppers-scrimp-dimming-appeal-singles-day-104814002

Author: 6405614 Boonyaporn Tantanakul

Summary
The UK economy showed no growth between July and September following a series of interest rate hikes, with interest rates at a 15-year high of 5.25% . The Bank of England suggested that the UK might experience zero growth until 2025. The Chancellor acknowledged that higher rates were impacting growth, but added that the economy performed better than expected this year. The Office for National Statistics reported that the growth of all sectors of the economy are quite low. The Chancellor mentioned a potential reduction in taxes, prioritizing business tax cuts. The opposition expressed concerns about economic performance. The Bank of England aims for a soft landing from last year's inflation and hopes for improvement in the growth outlook.

Why it's Interesting/Important
Rising interest rates have impacted negatively on household consumption and business borrowing, resulting in a subdued economic picture across sectors. This demonstrates how the government exercises monetary policy to reduce inflation. Although every sector is affected, the reduction of business tax is prioritized over personal tax as the focus is on the business growth.

Reference: https://www[dot]bbc[dot]com/news/business-67370315

Thai consumer price index (CPI) falls for first time in two years




Summary

Thailand's inflation rate has dropped for the first time in 25 months, primarily due to lower energy and food prices. The consumer price index fell by 0.31% in October, below expectations. The Ministry expects headline inflation to range between 1.0% and 1.7% for the year. The Bank of Thailand raised interest rates, expecting growth and inflation to pick up next year.

Why the news is interesting/important

If our income grows at a slower rate than the rate of inflation, we will buy fewer goods. As a result, inflation is a risk factor that will lower our purchasing power. When assessing the return on investment for financial planning, particularly retirement plans and long-term financial plans, inflation must always be considered because it can diminish our quantity of money over time. However, as reported in the news, declining interest rates result in lower pricing for products and services as well as increased purchasing power.

Chinese tourists are returning - but not to Thailand



Summary of the news

 Thailand's tourism industry, once hopeful for a resurgence with the lifting of China's zero-Covid restrictions, has seen fewer Chinese tourists than anticipated. The government aimed for five million Chinese arrivals in 2023, but only about 2.5 million came in the first nine months. Factors include a shortage of low-cost flights post-Covid and a slowing Chinese economy. Safety concerns, exacerbated by a shooting incident in Bangkok involving a Chinese tourist, have led many Chinese to perceive Southeast Asian countries, including Thailand, as unsafe. The Thai government's efforts to attract tourists through a five-month visa waiver have been hindered by these challenges. Despite past issues, Chinese visitors are significant spenders in Thailand, averaging $180 a day. The tourism industry is now turning to markets like Russia and India but still cannot afford to ignore China, the world's largest market.

Why is it interesting/important?

 Since the decline in Chinese tourist arrivals poses significant challenges for Thailand,

- Economic Contribution: Chinese tourists are major spenders, contributing significantly to the hospitality, retail, and entertainment sectors.

- Employment Impact: A drop in tourist numbers can lead to job losses in the tourism-related industries, affecting employment in the country.

- Business Viability: Businesses directly dependent on tourism, such as hotels and restaurants, may face financial challenges or closures.

- Investor Confidence: A downturn in tourism can affect investor confidence, influencing decisions on future investments in Thailand.

- Government Revenue: Lower tourist numbers result in reduced tax revenues for the government, affecting budgets and public services.

- Image and Reputation: Safety concerns and negative perceptions may harm Thailand's image as a tourist destination, requiring efforts to rebuild trust and address safety issues.

Reference: bbc.com/news/world-asia-67305693

Summary:
The highest worldwide drop in the number of ultra-high-net-worth (UHNW) population occurred in Asia in 2022, which dropped by 11%. Some of the factors are the conflict in Ukraine, the Covid lock-down in China, and broken supply networks. However, the net worth of Asia's UHNW reached $12.13 trillion, which is still more than Europe's net worth of $11.73 trillion. Meanwhile, due to the U.S. Federal Reserve's rate hikes, North America faces a 4% decline in UHNW population. From the overall information, it can be marking the first decline in four years with the number of ultra-wealthy people fell by 5.4% globally in 2022.

Why is this news important/interesting?:
This news is important because it shows the challenges and changes in the economy through the ultra-high-net-worth (UHNW) sector, especially in Asia since there is a 11% fall in Asia's UHNW population, which indicates us Asia's economic vulnerabilities. The news also shows how worldwide events affect the wealth distribution, with Ukraine war having an impact on Europe. Meanwhile, we could see another economic insight with the decline in North America's ultra-wealthy market improves the U.S. economy. Although specific effects on individuals and businesses relating to the UHNW are not provided, the overall trend shows significant economic uncertainties. This news may be essential to determine economic stability, geographical differences, and possible growth in the high-net-worth environment, which are really important for investors, policymakers, and economists.

Reference:
https://www.cnbc.com/2023/09/08/asias-ultra-rich-population-posts-largest-decline-in-the-world-altrata-.html
https://www.capgemini.com/news/press-releases/global-high-net-worth-population-sees-biggest-decline-in-size-and-wealth-for-over-a-decade/

Summarized by 6405806 Pattranit Buarapa

Summary:
The article shows the challenges that parents experience when shopping for school supplies, as the costs of all kinds of goods have been on increasing. According to the National Retail Federation, families are spending an all-time high of $890.07 on average, or $41.5 billion. Although rising prices, people say that they have to buy more supplies not only because of more expensive things. The article indicates that despite increases in prices, stores are still giving many offers for customers to being flexible when buying. Between 2019 and 2023, the producer price index shows that the price of backpack, paper, writing, art, and office supplies will continue rising.  Overall, inflation makes back-to-school season so much expensive for families.

Why is this news important/interesting?:
The significance of the article can be seen from many different perspectives. In general, it offers perspectives on how higher expenses affect back-to-school purchases, showing economic trends which affect consumer decisions. Businesses in the education supply industry have to adjust their strategies, as this is helpful for parents who are experiencing price hikes. The article is interesting to everyone because it covers general economic trends like inflation. In conclusion, it provides useful details about the situation of the economy today, especially with regard to buying behaviors and the effects of inflation on everyday buying.

Reference:
https://www.cnbc.com/2023/08/04/back-to-school-shopping-prices-rise-for-backpacks-notepads-pens.html

Summarized by 6405806 Pattranit Buarapa

WorldPride was weeks of glittery fun – but what did it do for Sydney?

Summary
In short, the NSW government predicts a big boost for Sydney's economy with more than 78,000 visitors expected at Sydney World Pride 2023. This three-week event, likely drawing over 500,000 people, is projected to bring around $100 million into the local economy. CEO Paul Zahra from the Australian Retailers Association sees it as a great opportunity for businesses to show support for diversity and equality. He believes events like World Pride not only celebrate the LGBTQ+ community but also help revitalize Sydney's downtown area and enhance Australia's reputation as a welcoming destination. Zahra urges businesses to go beyond words and create workplaces where everyone feels comfortable, regardless of their sexuality or identity.

Why is this news important?
Last April, Bangkok hosted a pride parade to celebrate the fight for gender equality and show support for the LGBTQ+ community. Additionally, Governor of Bangkok Chatchart Sitthiphan expressed his vision and determination to have Bangkok host World Pride in 2028. The benefit of organizing a World Pride event is not only in expressing the importance of diversity but also in the money it can bring to Bangkok. Therefore, it is good for us to study and gain knowledge about past World Pride events.

Reference
https://www.smh.com.au/national/nsw/worldpride-was-weeks-of-glittery-fun-but-what-did-it-do-for-sydney-20230713-p5do0v.html

Summary : The semiconductor industry, a cornerstone of modern technology, is crucial for the global economy. These tiny chips power devices from smartphones to cars, driving economic growth and innovation. Semiconductors are vital for the digital economy, with global sales reaching $468.8 billion in 2020. Their impact extends beyond direct sales, influencing sectors like automotive and healthcare. The industry's R&D investment, exceeding $40 billion in 2019, fosters technological innovation and high-paying jobs. The ongoing global chip shortage, exacerbated by pandemic-related demand surges, underscores the industry's indispensable role in the global supply chain and economy.

Why is it important :
-Technology can develop new technology so a lot of company will required this tool.
-Their is only a few company that can create semiconductors therfore the price of semiconductors can get higher which will also higher the price of technology that will be create by semiconductor in the future.

Reference : https://ts2(dot)space/en/the-semiconductor-industry-a-key-player-in-global-economy/

Thailand’s having second thoughts about decriminalizing cannabis



Summary of the news

 Thailand's newly appointed Prime Minister, Srettha Thavisin, has announced plans to "rectify" cannabis laws within six months, suggesting a shift toward legalizing cannabis only for medical use. This potential change follows the 2022 decriminalization of cannabis, allowing its cultivation, trade, and use for medical purposes. The prime minister cited concerns about drug issues,  as a recent 16 year-old shooting incident, and the perceived rise in drug-related issues have prompted the government to reconsider, as a reason for the proposed revision. The cannabis industry in Thailand, which has seen growth in the past year, is now uncertain about its future, with concerns about potential negative impacts on small businesses, farmers, and livelihoods. Critics argue that restricting cannabis to medical use may harm the industry and that evidence-based decision-making is crucial. The proposed changes come amid a broader debate on the balance between regulation and support in the cannabis sector. The outcomes may have implications for Thailand's unique position in Asia, where many countries maintain strict drug laws.

Why is it interesting/important?

 The potential changes to Thailand's cannabis laws can affect the country's economy in several ways:

- Cannabis Industry: Restricting cannabis to medical use may harm businesses, leading to job losses and revenue decline.

- Tourism: Stricter laws may deter tourists interested in cannabis-related experiences.

- Agricultural Sector: Farmers who switched to cannabis cultivation may face challenges, impacting rural economies.

- Investment and Entrepreneurship: Uncertainty may discourage investment and entrepreneurship in the cannabis sector.

- Government Revenue: Tighter regulations may reduce tax income from the cannabis industry.

- Illegal Market: Restrictions may lead to an increase in illegal cannabis activities.

- Public Image: Changes may impact Thailand's international reputation.


Reference: edition.cnn.com/2023/09/29/asia/thailand-cannabis-clampdown-what-next-intl-hnk/index.html#:~:text=Medical%20marijuana%20has%20been%20legal,the%20plant%20to%20treat%20illnesses.

Summary: The Tourism Authority of Thailand (TAT) organized a special event at Suvarnabhumi Airport for IndiGo Flight 6E 1639 from New Delhi, India, announcing a temporary visa exemption for Indian tourists from November 10, 2023, to May 10, 2024. This exemption allows a 30-day stay for tourism purposes, emphasizing Thailand's commitment to easing visa procedures and facilitating travel for foreign tourists, particularly during the high season. India is a key source market for Thailand, experiencing an 86% increase in Indian tourists in the first 10 months of 2023 compared to the same period in 2022. TAT aims to welcome 1.6 million Indian tourists in 2023, generating an estimated 65.6 billion Baht in revenue. To support this, TAT plans to strengthen partnerships with local tourism operators, promote diverse travel experiences, and participate in major trade shows in India in 2024.

Why is it important :
-Increase tourism revenue
-Increase benefit in local bussiness

Reference : https://www(dot)thailand-business-news.com/tourism/111108-thailand-marks-visa-exemption-for-indian-tourists-with-special-airport-welcome

The Fed is terrified Americans could get used to high inflation. It may already be happening.



Summary
The US central bank is concerned about whether Americans still believe inflation will eventually return to normal, which appears to be weakening. According to the consumer poll from the University of Michigan, Americans' long-run inflation forecasts increased to 3.2% in this month. And such attitudes can get worse the longer the Fed tries to return inflation to its 2% goal. The Fed specifically focuses on long-run inflation expectations. Still, inflation remains far over 2%, and some analysts predict that the final phase of the Fed's inflation struggle may be the most challenging. Sticky inflation may cause a persistent decline in Americans' perception of inflation. In a recent survey of consumer perceptions of inflation, the bank found that consumers today know enough about the Federal Reserve to recognize its policies as the most important factor behind the recent and expected future decline in inflation.

Why is this news important/interesting?
1. Indicator of Economic Confidence - An increase or decrease in Americans' long-term inflation expectations reflects potential shifts in confidence. Consumer confidence is critical to economic stability. And changes in expectations can affect spending, investment, and overall economic activity.
2. Market Impact - Investors constantly monitor inflation expectations, and any signs that consumers are losing trust in the Fed's capacity to manage inflation could have an impact on financial markets. This might lead to higher volatility and changes in investing strategies.
3. Economic Impact - If inflation expectations is changed, Federal Reserve's will issue a monetary policy which may affects interest rates, borrowing costs, and overall economic conditions. Also has implications for businesses, financial markets, and the general public.

Reference
(https://)edition.cnn.com/2023/11/12/economy/stocks-week-ahead-could-americans-get-used-to-inflation/index.html

Summary : Global food prices are anticipated to stay high in 2023 due to a combination of factors, including droughts, excessive rainfall, the conflict in Ukraine, and elevated energy costs affecting global farm production. Staple crops like rice and wheat are unlikely to replenish depleted inventories, especially in the first half of the year, with adverse weather conditions impacting edible oil-producing crops in Latin America and Southeast Asia. Natural disasters in key wheat-exporting countries, such as flooding in Australia and an expected severe drought in Argentina, are set to reduce global wheat availability. The continuation of export duties on rice by India, the world's largest supplier, is expected to keep rice prices elevated. Despite a promising outlook for corn and soybeans in South America, concerns arise from recent dry conditions in parts of Brazil, the top soybean exporter. In the United States, tight domestic supplies of corn, soybeans, and wheat are forecasted into 2023, with the global cost of food imports projected to reach nearly $2 trillion this year, reflecting ongoing disruptions in the global food supply chain.

Why is this news important/interesting? :

Global Food Price Trends: Continued elevation of global food prices expected in 2023.
Contributing Factors: Droughts, excessive rainfall, the conflict in Ukraine, and high energy costs impacting farm production.
Crop-Specific Challenges: Adverse weather affecting staple crops like rice and wheat, with reduced availability expected in the first half of 2023.
Natural Disasters: Flooding in Australia and an anticipated severe drought in Argentina impacting global wheat supplies.
Rice Price Impact: Export duties imposed by India, the largest rice supplier, expected to keep rice prices high.
Concerns in South America: Despite a positive outlook, dry conditions in parts of Brazil raise concerns for corn and soybean crops.

**Picture is attachted on the other post ** 6405809

Summary :

Global food prices are anticipated to stay high in 2023 due to a combination of factors, including droughts, excessive rainfall, the conflict in Ukraine, and elevated energy costs affecting global farm production. Staple crops like rice and wheat are unlikely to replenish depleted inventories, especially in the first half of the year, with adverse weather conditions impacting edible oil-producing crops in Latin America and Southeast Asia. Natural disasters in key wheat-exporting countries, such as flooding in Australia and an expected severe drought in Argentina, are set to reduce global wheat availability. The continuation of export duties on rice by India, the world's largest supplier, is expected to keep rice prices elevated. Despite a promising outlook for corn and soybeans in South America, concerns arise from recent dry conditions in parts of Brazil, the top soybean exporter.

Why is this news important/interesting? :

Global Food Price Trends: Continued elevation of global food prices expected in 2023.
Contributing Factors: Droughts, excessive rainfall, the conflict in Ukraine, and high energy costs impacting farm production.
Crop-Specific Challenges: Adverse weather affecting staple crops like rice and wheat, with reduced availability expected in the first half of 2023.
Natural Disasters: Flooding in Australia and an anticipated severe drought in Argentina impacting global wheat supplies.
Rice Price Impact: Export duties imposed by India, the largest rice supplier, expected to keep rice prices high.
Concerns in South America: Despite a positive outlook, dry conditions in parts of Brazil raise concerns for corn and soybean crops.
U.S. Crop Projections: Tight supplies of corn, soybeans, and wheat expected in the United States, contributing to global concerns.