Global headwinds could blow Thai economy off track
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Global headwinds could blow Thai economy off track
14 Sept 04:43Key points summarised by AI
Decelerating export growth in July, driven by global slowdowns in key markets like China (zero-COVID, property crisis) and the US (inflation, recession fears), raises significant concerns for Thailand's economic outlook.
Despite Q2 growth fueled by tourism and private consumption, the industrial sector declined, and both private and public investment remain weak, highlighting internal vulnerabilities.
Rising global energy prices, geopolitical tensions (Russia-Ukraine war, China-US friction), and domestic inflation are increasing production costs for businesses and burdening consumers, further complicating economic recovery.
Analysts express skepticism about Thailand's ability to meet GDP growth targets, as severe global headwinds are expected to outweigh the potential benefits from tourism recovery, creating substantial economic uncertainty.
Thailand's Education Ministry is implementing a four-pronged strategy to address its students' below-average performance in PISA 2025 and tackle significant educational inequality.
The plan prioritizes closing performance gaps by increasing funding for small and low-income schools, overhauling the curriculum to foster critical thinking, and adopting a data-driven management system to reduce teacher workload.
Key initiatives include enhancing school safety, combating cyberbullying, and expanding mental health support through peer-to-peer networks, recognizing the severe impact of distress on academic performance.
An education expert advises verifying if PISA improvements stem from structural changes, advocating for a revived STEM curriculum with practical 'learn by doing' methods, and urging bureaucratic reform to link teacher evaluations to student development.