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Senior officials representing the governments of the People’s Republic of China and the Kingdom of Thailand  extended 2018 Lunar New Year’s greetings to people across China and Thailand at a special ceremony held at the China Cultural Center in Bangkok.

The ceremony was presided over by H.E. Mr. Weerasak Kowsurat (below picture, left), Minister of Tourism and Sports, and H.E. Mr. Yang Zhijin (below picture, right), Deputy Minister of Culture from the People’s Republic of China.

The Ministry of Culture of the People’s Republic of China and the Tourism Authority of Thailand (TAT) have also scheduled Thailand-China cultural exchange performances as part of the wishes for the New Year of the Dog.

This year marks the 43rd anniversary of Sino-Thai diplomatic relations, and the 14th anniversary of cooperation between the TAT and the Chinese Ministry of Culture in organising the annual Lunar New Year celebrations in Thailand. The China Cultural Center, the first to be established by the Chinese government in Southeast Asia, and the largest such center outside of China, also celebrates its fifth anniversary in 2018.

Source: e Global Travel Media

Thailand made headline news worldwide a year and a half ago when its monarch, King Bhumibol passed away. Soon after, the entire country underwent a one year-long mourning period until last year October, when the king was finally cremated. The country, and its people, suffered a loss of whom they called “the Father of Thailand.” He reigned the country for 70 years. King Bhumibol was a unifying symbol for the country’s development and in its economic progression. His Sufficiency Economy Policy was moreover, one of the most advancing evolution in Thailand’s economy.

Above: A Thai lady holds the portrait of the late King Bhumibol in her hands.

The fact that Thailand recovered from the 1997-98 Financial Crisis was a spectacle for nations worldwide. Within years, the country’s economy rebounded back to the state before the crisis and its subsequent development gained a worldwide interest. Many believed it was likely, a result from the late king’s Sufficiency Economy Policy (SEP).

His theory of Sufficiency Economy reformed the economic system of the country. After suffering from the 1997-98 financial crisis, the country began to lead a self-sufficient economy under the SEP philosophy. This middle-way policy, influenced by Buddhism beliefs, considers the overall wellness of the local people, to the community and to the nation as a whole. It encourages people to live in where they only consume what they need without added extravagance. It provides a guide for the government to execute plans and policies to strive towards an outcome that will be beneficial to the overall development of the country. The goal of SEP, is to measure economic progression using GDP but at the same time, reduce poverty and social inequality occurrences.

Early projects under the SEP philosophy largely improved the rural impoverishment in the country. The theory provided an operational framework and foundation for state-owned corporations after the 1997-98 Financial Crisis. King Bhumibol emphasized that the SEP philosophy is not only a theory, but a way of life.

Above: A chart to outline the basis and definition of the Sufficiency Economy Policy (SEP).

A year ago, some predicted that Thailand’s economy will be affected by the king’s death. Indeed, it slowed developments and construction as the country mourned for over a year and thus constraining many business activities.

In 2013, Thailand’s GDP skyrocketed to a $422 billion USD, then moderately decreased until 2016 where it plateaued to 2017’s $407 billion USD.

The Thai Baht has dropped since the death of the monarch in late 2016 from its exchange rate of 35.7 to one US dollar to today’s 31.7.

Thailand has nurtured its manufacturing industry into one of the country’s economic pillar and is determined to become the manufacturing giant and a hub of the ASEAN community. Its automotive and electronic manufacturing industry has since show the most significant amount growth in Southeast Asia. Exports and imports, is now a major factor that sustains the country’s economy. Exports grew by 8.6% at the end of 2017 from the same time in 2016. Imports, on the other hand, grew by an alarming 16.6%. The highest of the 12-month sum of the trade balance reached a 15.2 billion in November. The next goal of Thailand is to reach its S-curve goals, to increase development in robotics, aviation, and logistical services.

The economic progression is steady, but investors are expecting, in turn, a more significant growth.

Many remain skeptical of the economic progression as Thailand emerges from its mourning period. Identified challenges will linger, especially during this changing time as a new Thai monarchy ascends and political instability remains unclear.

Instability in the country’s government and a loss of prestige in the new Thai monarch has scared off private and foreign investors.

Above:  King Maha Vajiralongkorn gives a speech.

Many underlying challenges still occur throughout the country: the agriculture industry faces a number of debts, manufacturing lacks local and educated workforce, demand for education and training rises, state- owned enterprises are under-supported, environmental degradation results from overhauling tourism, and uneven development occurs in the countryside.

The Sufficiency Economy Policy is a philosophy to reach a progressing balance and significant results in the distant future. As projects in the early 2000s were strategized with SEP, the policy has since been recognized internationally with foreign developing agencies. In 2010, with this policy emplaced by the late king, Thailand reduced its poverty rate to the lowest in Southeast Asia. SEP remains the basis of the developmental strategies of the country in order to improve its security, competitiveness, social equality and green growth.

Political fracture and economic challenges places the new monarch in a difficult situation. His father, King Bhumibol, was ahead of his time with his thinking for the Thai economy and he further consolidated a recognition of SEP among leaders worldwide. In 2016, the new monarch, King Maha Vajiralongkorn said, “No matter what problems we may face in our country, we believe that if we work together, we can overcome and alleviate any situation.”

The world, now awaits and watches, as the new monarch makes impression on the nation and if he will continue his father’s legacy to consolidate the SEP philosophy into the country’s oncoming economic development.

Source: Oxford Business Group, Trading Economics, The Economist, The Straits Times, The Nation, CNN

As the year of the Earth Dog approaches, Golden Emperor Properties will launch a referral program to celebrate this joyful holiday with our valued clients.

For Golden Emperor Properties valued clients, from today until March 31^st 2018, if you successfully refer a friend or a family member to purchase any of the properties Golden Emperor Properties is promoting, you, as the referrer and the new client may each receive a cash rebate of HKD $3,888, totaling in HKD $7,776.

If you would like more information, please contact us:
contact@goldenemperor.com
(852) 3998 3003

Terms and Conditions:

• As this is a special offer, the new client must be referred to Golden Emperor Properties before March 31^st 2018 by the referrer. However, the new client may finalize a purchase of a property or properties after the said date.
• The offer is only valid after the new client has signed the buy and sell contract and after the first payment has been received successfully.
• Cash rebate will be distributed to the new client and the referrer one week after the first payment has been made by the new client and received by the company.
• Should any conflict or dispute arise, the decision of Golden Emperor shall be final.

With a busy lifestyle, nothing is more enjoyable than taking a break and indulge in some coffee or tea and delicate desserts. No matter how occupied or troubled you are, with a small afternoon break, relaxation time hits. Hong Kong has many charming coffee shops, but Bangkok is equally as vibrant and offers a unique realm of cafes. Let’s fly over to Bangkok and explore the city’s 4 most thematic restaurants with high quality food and beverages and characteristic ambiance to satisfy the lifestyle of a modern connoisseur.

A Dreamy Date at Sretsis Parlour

Located near Bangkok’s Central Embassy’s BTS Phloen Chit, Sretsis Parlour is the area’s signature café with its pink exterior design. Instantly from the outside, the doorway shows class and romance. Step through its doors, and immerse yourself in its posh interior designed with a dreamy arched ceiling covered with fluffed clouds. The café defines elegance. The floor is lined with carpeting, patterned with pink daisies, and navy velvet curtains hangs above its old European decors and spiraling staircases.

Sretsis Parlour’s motto “A Taste of Fantasy”, shares the importance of presenting a fantasized ambiance and decorative details with its menu items. Its signature Unicorn Afternoon Tea is luscious and aesthetically pleasing. Indulge yourself in the taste of fantasy. Choose between a wide variety of tea items from its cakes and desserts to special items like cream cheese & roasted chicken or cake-like sandwiches. A regular tea set starts from 400 Baht and a deluxe version costs 650 Baht. Due to the limited seating space, reservation is highly recommended.

Van Goethe’s Garden Style B-Story Café

Sitting at Bangkok’s Ratchthew’s Phayathai Road, is B-Story Café, in what used to be a former chapel. The exterior of the café is decorated in an European style and its doorsteps, to the refreshing experience at the café, are filled with dense planters. A set of little angels awaits you to enter by its door. The interior is naturally relaxing: a space filled with plants and decors, with red bricked walls and stained windows. The café creates a laid-back, yet lively experience, even for solo visitors.

The food served at B-story is extremely diverse: menu items include Korean Fried Chicken Wings, Grapefruit & Asparagus Smoked Salmon, and a selection of pizzas and salads. Even if you are not a coffee addict, order the signature Latte, which will make your heart melt with its pop-up art of bears, cattles, and frogs. Desserts start at around 150 Baht; an afternoon tea would cost from 250 Baht per head.

Enjoy the City View at Up & Above Bar

Compared to the mentioned restaurants, Up & Above has a more modern approach and is due perhaps to its location in the Japanese styled hotel, The Okura Prestige. The layout of the restaurant, a minimalistic urban design, is not quite as characteristic but the city view is exhibited up front and close through its large glass panels, enhancing the atmosphere of the restaurant. If you love Bangkok’s sunny days and its heat, try Up & Above’s afternoon tea on their balcony to fully immerse yourself in the view while sipping on some champagne or coffee.

The restaurant offers a Japanese- inspired tea set. The Sakura Afternoon Tea Set will bring a surprise to the table. The set is a signature, with its items delicately designed, and incorporates beautiful colors and its theme of Sakura flowers. It is definitely for the romantic. A regular tea set ranges from around 900 to 1200 Baht.

Explore the Magical World of Perhaps Rabbit

If you are a food connoisseur, you must have visited Bangkok’s Ekkamai district. This hotspot is considered to be Bangkok’s Little Japan, with a number of Japanese individuals residing in the area. Perhaps Rabbit is one of the most characteristic restaurants in the district. Explore the wonders of this restaurant in a casual style, but don’t forget to bring along a cellphone or a camera, as the restaurant will make you want to capture as many moments as you can in the world of Alice in Wonderland.

Perhaps Rabbit’s food and atmosphere will bring joy to your table. The dramatically designed cakes and snacks, like the Blue Bunny Egg, enclosed in a blue mushroom- like net, and Rabbit Hole Mud Cake, covered with a mouthwatering amount of chocolate, are fine examples of ‘cake art’. Drinks start from 80 to 100 Baht and desserts start from around 160 to 220 Baht.

China announced Friday that it will allow direct trading between the Chinese yuan and the Thai baht on its interbank foreign exchange market beginning Monday.

The move aims to boost bilateral trade and investment, facilitate the use of the two currencies in trade and investment settlement, and reduce exchange costs for market players, said the China Foreign Exchange Trade System (CFETS) in a statement.

This will also bring the number of foreign currencies that are allowed direct trading with the yuan to 24. Previously, trading between the yuan and the baht was only allowed in regional interbank markets.

The central parity rate between the yuan and the baht will be decided according to the average quotation of direct trading market makers before the market opens each business day, according to CFETS.

In the spot forex market, the trading rate between the two currencies can fluctuate by up to 10 percent from the central parity rate each trading day.

To support the Belt and Road Initiative, China will also waive the transaction fee for yuan-baht direct trading till July 31, 2020, the CFETS said.

China is Thailand’s largest trading partner. In the first ten months of 2017, bilateral trade volume rose 13.2 percent year-on-year to $60.68 billion.

Source: CHINADAILY