7% growth likely next year

RETAILING

Published: 4 Dec 2012 at 00.00
Newspaper section: Business

The retail industry is expected to grow by 6-7% next year on the back of rising farm product prices and higher wages, which will boost people's purchasing power, said executives at a seminar.

The biggest winner will likely be the convenience-store segment, which is projected to expand by at least 15%.

The formation of the Asean Economic Community (AEC) in 2016 will be a major factor driving the sharp growth of the retail sector, said Santichai Santawanpas, deputy director-general of the Internal Trade Department.

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boons
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Discussion 1 : 12 Dec 2012 at 00.031
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This is economic hocus pocus at its most ridiculous. Yes, read that article again folks: Rising wages are apparently going to boost the economy. The economy of Thailand... An export economy.

Just, wow. Where does one even begin to address this economic insanity. Perhaps if the price of labor was quadrupled, the economy would do even better! LOL.

And with home and car loans for everyone, what could possibly go wrong? It worked so well for Greece and Spain after all...

And what was that bit about ASEAN holding promise for Thai management??? Uh... Right... And how will ASEAN affect Thai labor?
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7% growth likely next year | Bangkok Post: business