COVID-19 – HOW SEREIOUS IS THE EPIDEMIC IN BANGKOK

  • The world is currently in an extraordinary crisis due to a new coronavirus called Kovid19. Wealthy individuals around the world are rethinking their investment options and future plans.

     

    COVID-19 is part of a family of viruses that cause colds or serious illnesses, such as acute respiratory syndrome, respiratory syndrome, which was called SARS-CoV in late 2019 in Wuhan, China. -2.

    This is the COVID-19 pandemic, which killed more than 240,000 people and caused more than 3.5 million people worldwide, and that number continues to grow.

     

    With the already very uneven distribution of income and wealth, and even before the COVID-19 pandemic, millions of Thais were at the bottom.

     

    As the COVID-19 crisis worsens and worsens in the coming months, widespread protection and social coverage for people in vulnerable employment situations must be given political priority.

    Thailand cannot afford to widen the wealth gap.

     

     

    Since 2014, GDP growth rate is the lowest in Southeast Asia and exports are declining since 2019

     

    The government forecasts a 6.7% drop in GDP and the economy is expected to shrink by 5.3%, with the International Monetary Fund forecast even worse

     

    Thailand is the most influential Asian region, and the most influential Thai economy in the Asian region.

     

    The Thai economy is the most affected in the Asian region.

    Prior to the epidemic, Thailand's economy and investment were economically marginal.

    Without outside help, it can be very difficult.

    With a struggling economy, the timing of the crisis could not be worse for Thailand.

    This trend is likely to get worse in the coming months.

    The COVID-19 pandemic increases inequality in Thai society.

     

    Thousands of Tuktuk drivers and street vendors have been unemployed in Bangkok since the shutdown of tourism,

    Even in cities like Chiang Mai and Pattaya, whether they are small traders or day laborers.

    The Ministry of Employment confirms significant job losses following the coronavirus pandemic.

    The economic crisis has seen a significant drop in international trade, with unemployment soaring.

     

    Over the past two weeks, the Thai government has reported that 27 million people have applied for financial assistance online to receive this cash payment.

     

    Only 1.68 million of them are approved for income support and assistance, requiring an internet access and savings account, but this requirement excludes some poor communities.

     

    A similar relief proposal promises cash relief every three months.

    Unfortunately, after an administrative error that characterized the eligible population, thousands of people were wrongly excluded from this major government program.

     

    Millions of Thais suffer forced and involuntary unemployment as the government applies control of the national movement.

    The International Labor Organization calls harmful employment, about 50% of the Thai workforce consists of self-employed and family workers, and most of them are in the informal sector without formal contract or paid employment.

     

    Unfortunately, in the coming months, the income distribution will intensify and inequality will increase, as before the Kovid-19 crisis, 1% of Thailand's richest population controlled nearly 67% of the country's wealth.

     

    Decreased labor income and lack of cash flow are not the only sources of vulnerability.

     

    The COVID-19 pandemic increases these disparities in income and wealth.