2 ข่าวไทยในสื่อนอก ... 1. Thailand Economic Recovery 2015: Struggles Continue - 2. Thailand seeks Evolved Seasparrow Missile purchase

Although private investment in Thailand rose in September, the country is still struggling with shrinking exports. Its economy has lagged since May 2014, when the army seized power. Pictured: A rice mill worker holds rice in Udon Thani, Thailand, Sept. 16, 2015. Reuters/Jorge Silva

Thailand Economic Recovery 2015: Struggles Continue In Wake Of Chinese Slump, Military Coup

By Elizabeth Whitman
October 30 2015
International Business Time

Despite a recent uptick in private consumption and investment, Thailand's export-based economy struggled last month, according to numbers released Friday. The economic recovery in Thailand, Southeast Asia's second-largest economy, has been weak and growth has lagged since a military coup in May 2014.

In September private consumption rose 0.5 percent from the previous month, while investment grew 0.4 percent, the Bank of Thailand said. Roong Mallikamas, a senior bank official, said exports "remained a drag," Reuters reported. Exports, which account for more than 60 percent of Thailand's gross domestic product, shrank in September for the ninth month in a row. Industrial output fell 3.6 percent in September.

Thailand's economy, dependent upon exports including electronics, agricultural products and automobiles, has been hurt in the past year by the changes in the Chinese economy, which appeared in previous years to be growing at a rapid clip until it became evident in the first half of 2015 that the growth of its gross domestic product was starting to slow down.

The coup of 2014 also took a toll on the economy. The junta that came to power suspended existing agricultural subsidies while pouring tens of billions of dollars into mega-projects like roads and train lines that aren't expected to pay off for years, according to an opinion article published in the New York Times in September. Thailand also has extreme inequality in its wealth distribution, with 0.1 percent of the population owning nearly half of all the wealth in the country. Much of government spending, meanwhile, is devoted to Bangkok rather than rural areas.

"The only way to jolt Thailand out of its economic stagnation is to implement two measures that are sure to upset the Bangkok-based traditional elites: dramatically raise rural incomes (to spur domestic consumption) and aggressively devalue the baht (to boost exports)," the article's authors, an economist and a journalist, wrote.

ooo

Thailand seeks Evolved Seasparrow Missile purchase

An ESSM missile is launched by a U.S. warship. U.S. Navy photo

Source: UPI

WASHINGTON, Oct. 30 (UPI) -- The U.S. Defense Security Cooperation Agency reports Thailand is seeking to procure Evolved Seasparrow Missile systems.

Seasparrow is used as a defense against supersonic anti-ship missiles.

The agency, which manages the U.S. Foreign Military Sales Program, said Thailand is seeking 16 Evolved Seasparrow missiles, 14 tactical missiles and two telemetry missiles -- plus missile quad pack canisters and shipping containers.

Associated equipment, parts and logistics support would also be provided.

The proposed FMS deal carries an estimated value of $26.9 million.

"Thailand will use the ESSM to provide ship battlespace self-defense and firepower, which will improve its capability to meet current and future naval threats," the agency said in its notification to Congress.

The principal contractors for the package would be Raytheon Missile Systems, BAE Systems, Lockheed Martin and Saab, which would supply Thailand with its S 9LV MK4 combat management system.

The U.S. State Department has given approval for the proposed sale.