Business
Charter rejection boosts economy

PHUKET: The rejection of the draft charter by the National Reform Council with a vote of 135-105 last week, along with measures to spur the economy worth a combined 136 billion baht, should overall have a positive affect on consumption, investment, and tourism, while also boosting internal economic activity, said Dr Anusorn Tamajai, dean of Rangsit University’s Faculty of Economics.
The draft charter rejection will reduce the risk of conflicts between supporters and opponents of the new charter in the lead-up to the national referendum and shows that democracy in this country has reasonably deep social roots, he added.
At the same time, moves to resolve problems and boost security after the Erawan shrine bombing has reduced the impact on tourism with revenue likely to return to normal, and thus being positive for the economy.
Meanwhile, the latest economic stimulus package, worth 136 billion baht, will have a positive affect on the Thai economy going in to next year.
However, Dr Anusorn pointed out that this package will not substantially help the Thai economy during 2016 because the amount of money is less than 1% of the gross domestic product (GDP).
Regarding external factors, Dr Anusorn pointed out that the global financial markets face more turbulence through the sale of US Treasury bonds and other financial assets by China.
“These factors will push global interest rates higher and this is not good for the global economy, which is still weak.”
Quoting Citi Research, he said every sale of US Treasuries amounting up to 1% of US GDP, increases interest rates on 10-year US Treasuries by .15% – .35% and if China sells more than 30% of the US Treasuries it holds in its reserves, this will very quickly push long-term interest rates higher and could trigger further turbulence in the global financial markets.
— Nina Suebsukcharoen
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Business
Governments & old media versus social media – who will win? | VIDEO

We look at the recent changes made by the Australian and Indian governments to except control over the world’s biggest social media platforms. India has issued strict new rules for Facebook, Twitter and other social media platforms just weeks after the Indian government attempted to pressure Twitter to take down social media accounts it deemed, well, anti social. There is now an open battle between the rise of social media platforms and the governments and ‘old’ media that have been able to maintain a certain level of control over the ‘message’ for the last century. Who will win?
The rules require any social media company to create three roles within India… a “compliance officer” who ensures they follow local laws; a “grievance officer” who addresses complaints from Indian social media users; and a “contact person” who can actually be contacted by lawyers and other aggrieved Indian parties… 24/7.
The democratisation of the news model, with social media as its catalyst, will continue to baffle traditional media and governments who used to enjoy a level of control over what stories get told. The battles of Google and Facebook, with the governments of India and Australia will be followed in plenty of other countries as well.
At the root of all discussions will be the difference between what governments THINK social media is all about and the reality about how quickly the media landscape has changed. You’ll get to read about it first, on a social media platform… probably on the screen you’re watching this news story right now.
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Business
The social media giants in battle with ‘old’ media and world governments | VIDEO

“The rules signal greater willingness by countries around the world to rein in big tech firms such as Google, Facebook and Twitter that the governments fear have become too powerful with little accountability.”
India has issued strict new rules for Facebook, Twitter and other social media platforms just weeks after the Indian government attempted to pressure Twitter to take down social media accounts it deemed, well, anti social.
The rules require any social media company to create three roles within India… a “compliance officer” who ensures they follow local laws; a “grievance officer” who addresses complaints from Indian social media users; and a “contact person” who can actually be contacted by lawyers and other aggrieved Indian parties… 24/7.
The companies are also being made to publish a compliance report each month with details about how many complaints they’ve received and the action they took.
They’ll also be required to remove ‘some’ types of content including “full or partial nudity,” any “sexual act” or “impersonations including morphed images”
The democratisation of the news model, with social media as its catalyst, will continue to baffle traditional media and governments who used to enjoy a level of control over what stories get told.
The battles of Google and Facebook, with the governments of India and Australia will be followed in plenty of other countries as well.
At the root of all discussions will be the difference between what governments THINK social media is all about and the reality about how quickly the media landscape has changed. You’ll get to read about it first, on a social media platform… probably on the screen you’re watching this news story right now.
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Never miss out on future posts by following The Thaiger.
Business
Turbulence ahead for Thailand’s aviation industry | VIDEO

When the airlines, in particular, were asking the government to put their hands in their pockets for some relief funding in August last year, it was genuinely thought that international tourists would be coming back for the high season in December and January. At the very least local tourists and expats would head back to the skies over the traditional holiday break. And surely the Chinese would be back for Chinese New Year?
As we know now, none of that happened. A resurge in cases started just south of Bangkok on December 20 last year, just before Christmas, kicking off another round of restrictions, pretty much killing off any possibility of a high season ‘bump’ for the tourist industry. Airlines slashed flights from their schedule, and hotels, which had dusted off their reception desks for the surge of tourists, shut their doors again.
Domestically, the hotel business saw 6 million room nights in the government’s latest stimulus campaign fully redeemed. But the air ticket quota of 2 million seats still has over 1.3 million seats unused. Local tourists mostly skipped flights and opted for destinations within driving distance of their homes.
As for international tourism… well that still seems months or years away, even now.
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