On 26 October 2022, Bloomberg reported that the economy of China was in recession in October, as the decreasing sales number of automobiles and properties, even world trade and the confidence of small businesses was shrunk which means the activities in September didn’t enough China economy to be recovered.           After the government released Covid Zero measures that affect the economy, especially the confidence of small businesses shrunk for the first time this month since May, meanwhile the demand in China including residence as well as catering declined to the lowest level since February 2020 and May 2020 respectively. Hereafter, Reuters reported that Chinese state banks sold the US. dollars in both onshore and offshore markets to handle gently the weakening yuan. This action reflected that the US. dollars appreciated and the concern in the economy of China was slowing down           Nonetheless, the Chinese economic trend continuously recovered but was interrupted by the lockdown and covid-19 measures in China. The decrease in the property sector and

          On 11 October 2022, the International Monetary Fund (IMF) reported that the world economy would be in a recession and the global GDP forecast decreasing from 2.9% to 2.7%. The key factors affecting the global GDP are Russia invaded Ukraine, COVID-19, soaring costs, and high-interest rates to reduce the inflation rate.           Meanwhile, the IMF has cut forecasts for the 2 biggest economies, the US and China. The US economic growth will reduce by 1.6% that below the expectation, the cause is FED has hiked the interest rate aggressively to control the inflation rate in the US, furthermore, FED will continuously increase the interest rate.           China’s economic growth this year is 3.2% that lower than initially forecast, and the following year will increase by 4.2%, as strict Covid curbs and a crisis in the property sector tend to slow down driving China’s economic growth slower than expected. For all that, the IMF was concerned with the developed country’s economic deceleration, currency depreciation in developing countries, and

          From the report on 28 September 2022, the monetary committee voted to raise the interest rate by 0.25%, increasing from 0.75% to 1.00%. The factor driving to increase in interest rate in Thailand is the FED announcement to raise the interest rate by 0.75%, reaching 3.25%, this cause-effect USD to be appreciated and other currencies to depreciate.           Nonetheless, BOT governor, Sethaput Suthiwartnarueput, told reporters that the Bank of Thailand has been following up on the situation of the Thai Baht, and promptly acted on excessive moves, meanwhile they didn’t apply the policy to regulate the exchange rate and Thailand has learned from the economic crisis in 1997.           Moreover, this year’s Thai economy will continue to recover from consumers and tourists, for the export will be affected by the economy’s world recession. The bank of Thailand forecasts economic growth in 2022 to be 3.3%, and in 2023 to grow at 3.8%, which means the economy of Thailand will be recovered slowly more than expected. Meanwhile, the

         According to the report from Mr.Thanavath Phonvichai, the president of the Center for Economic and Business Forecasting, It was mentioned that on August 2022, Thai consumer confidence rose for a third straight month reaching a seven-month high. It reached 43.7 in August from 42.4 in the previous month, This will recover Thai economic growth at 3% – 3.5% this year.           The main factors that have pushed the Thai economy to grow up as follows,  Released government support measures Easing of Covid-19 measure Promoting tourism sector Supporting night entertainment (added a monthly 50 billion baht to the economy)           Especially, in Q4 if foreign arrivals travel in Thailand at least 1 million person/month, it would earn an income of around 50 billion. Also, the Ministry of Labour will adjust wages to rise on average at 5%, which will be effect officially on 1st October 2022, this factor will cause people more income and drive the Thai economy. Hence, the Thai economy in Q4 will rise to 3.5% –

          Belgium’s energy minister mentioned that the EU countries will face 5-10 terrible winters which that means the EU countries would face a lack of energy for decades if the relevant organization has done nothing to reduce gas prices.           Since Russia reduced the export volume of energy to the EU, this causes affects the demand to use gas and fuel in the EU over supplies, hence the energy prices are higher and the EU citizen face electricity bills that are high and it seems will not decrease.           However, Russia is the biggest supplier that exports energy worldwide, especially the EU countries, last year Russia supplied the EU which reach 40% of its gas. Since Russia invaded Ukraine, and the EU which supports Ukraine sanctioned the finances of Russia accordingly, Russia responded by reducing the export of energy to the EU.           The EU has implemented measures on energy-saving and purchasing gas from other alternative suppliers and because of these measures, Germany would