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◤As Taiwan’s GDP Per Capita Caps US$30,000, Grimmer Days Lie Ahead◢
The global economy has been brought to its knees by the pandemic, but Taiwan’s GDP grew by 3.83% this year--the second highest in a decade. As a new year approaches, we should reflect: What opportunities and risks await Taiwan’s economy?
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กรณีศึกษา คูเวต ประเทศที่ รวยน้ำมัน แต่เงินกำลังจะหมด /โดย ลงทุนแมน
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Continue ReadingKuwait case study. Oil rich country but money is running out / by investman
Kuwait, one country in the Middle East region.
Rich from occupying oil resources for a long time.
But you know, Kuwait is in big trouble today.
Well, the country's reserve funds are running out.
What happened to Kuwait? Invest man will tell you about it.
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Kuwait is an Asian country in the Middle East region.
Which is an abundance of oil resources.
In 2019, Kuwait had a GDP value of 4.3 trillion baht and a population of 4.4 million people.
Make GDP per capita of Kuwait population equal to 977,000 baht.
4 times more than GDP per head of Thai people.
Kuwait has an area of 17,818 square kilometers, which is about 30 times smaller than Thailand.
Despite being the world's 152th small country.
But Kuwait is the world's 6th most crude resource country.
And one of the country members who expired oil (OPEC)
Kuwait has a crude oil reserves up to 101,500 million barrels. This amount is estimated to be 6 % of the world's crude oil reserves.
If crude oil prices are around $ 40 per barrel, Kuwait's crude oil reserves will be worth 128 million baht.
When things are like this, it means
Oil resources are highly important to Kuwait economy.
Year 2019 Kuwait's crude export revenue is worth 1.5 trillion baht.
In which such value is considered.
90 % of Kuwait's total export income
90 % of Kuwait government income
And 35 % of GDP, Kuwait
In 2016
Anas Al-Saleh, Kuwait's finance minister in those days, warns the government to lower the country's expenditure budget to be prepared for a moment when petrol prices will fall in the future.
But his warning is right. Many people laugh at me.
Because most people believe that the country will continue to earn massive oil exports income.
After that, come on
During the 2016-2018 s, crude oil prices continue to adapt.
It's something that makes many people confident that Anas Al-Saleh warnings won't happen.
But then the emergence of the trade war between US and China in 2019 begins to pressure the global oil demand to slow down.
And the incident started worse than that
When the world later, the COVID-19 outbreak begins.
Plague plague making global travel and production drops.
The global oil demand is reduced from the same.
Besides, there's a fuel war between Saudi Arabia and Russia that both of them won't reduce their production capacity. The oil prices are increasingly adapting.
2018 Dubai crude oil prices average $ 70 per barrel
2019 Dubai crude oil prices average $ 64 per barrel
While the first 6 months of 2020, the average Dubai crude price is only $ 41 per barrel.
What happens is income from crude oil exports
90 % of Kuwaiti government income is greatly reduced.
Make the government not enough money to pay for public sector employers.
At present, more than 80 % of Kuwait people, or around 3.5 million people work as government employees.
Make government spend money in country's reserve funds during the 3 months after COVID-19 outbreak. The fund has gone down to over 411,000 million baht.
Which if crude oil prices don't rise from the same.
It will only make Kuwait government pay for public sector employees until November this year.
Enough is like this next year, Kuwait government needs to make a budget deficit.
Which will cause budget deficit to the level of 1.4 trillion baht
Thinking about a deficit, increasing almost 3 times more than the 2019-2020 fiscal year.
And the budget deficit is the 7th year in a row since 2014
What's worrisome is if the government needs to borrow money.
Among lower oil prices, Kuwait may earn enough oil export income to pay back the loan.
Make it now Kuwait has to have a concept of country reform.
Under Vision 2035 slogan: New Kuwait
The point is that it's important to try to reduce oil industry revenue reliance on revenue.
Which is to follow how much Kuwait's long-term plan this time will accomplish.
From this story preview of Kuwait country
It's something to remind us whether it's a country, corporation or individual.
Being too dependent on income in any way is a high risk.
Like this case, Kuwait relies on income from crude oil exports up to 90 % of export income.
If one day the main income drops or disappears.
From a long time ago, I might lose money easily too..
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References
-https://www.pionline.com/economy/oil-rich-kuwait-running-out-cash
-https://oilprice.com/Energy/Energy-General/Kuwait-Is-Running-Out-Of-Money-To-Pay-Public-Salaries.html
-https://www.middleeastmonitor.com/20200820-kuwait-will-not-be-able-to-pay-salaries-after-november/
-https://en.wikipedia.org/wiki/List_of_countries_and_dependencies_by_area
-https://en.wikipedia.org/wiki/Kuwait
-https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves
-https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
-http://www.worldstopexports.com/kuwaits-top-10-exports/
-https://fanack.com/kuwait/economy/
-https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RBRTE&f=M
- Form 56-1 Year 2562, Thai Oil Public Company Limited
-https://www.set.or.th/dat/news/202008/20088082.pdfTranslated
突發「笑著流淚」林格X肥仔 雙人展 | 「Joy in Misery」Works by Lin Ge & Fatty Ho ﹗﹗﹗
尻下尻下又一年~ 是但喇~
金權專政、強人民主、狂言總統，日不落退歐，退精英化，個人主義抬頭，當前的世界是一個前所未有的局面，對上一次或許數到文藝復興時期，讓知識與文字普及，但這趟的顛覆與以往截然不同，轉化中很多時沒有帶領者或許不久的將來權威會進一步失去原有的價值。
回看我們的寶地，過去數年的人均生產總值世界排名不斷攀升、名列前茅，我們擁有15年免費教育，完善的醫療體系、社會保障，政府福利更是世上罕有的完美，由出生、成長、教育、就業、醫療、養老、到死亡，樣樣照顧妥貼，走出街，雖然沒有Uber但公交有補貼，每年還有現金分享，對比起動盪的世界格局，這地方實在離地得可愛。
踏入2018年，尋藝會第一場展覽，我們將為大家帶來兩位出色的年輕藝術家，分別是，林格與肥仔，二位一直以文字、插畫、電繪、短片等方式在不同領域發表作品，緣分將我們牽連在一起，今天聚首在同一展場，以笑中有淚的全新作品，嘗試在離地的地面，觀察生活、探討生命，我們到底快樂嗎？在真話難宣的日子裡，好在還有藝術，期望透過這場展出，讓更多朋友多關心世界以致周邊的日常。
Plutocracy, dictatorial democracy, boastful president, Brexit, weakening elitism and the rise of individualism form an unprecedented situation in the world today. Looking back at history, the last great change may be the Renaissance which popularized knowledge and words. However, the current subversion is entirely different from the past since there is usually no leader in the transformation. Perhaps authority will lose further its original value in the near future.
Talking about our blessed land, its world GDP per capita ranking has been continuously rising and dominating the top of the list over the past few years. We have 15-year free education, well-established healthcare system, social security, and the welfare from the government is extraordinarily perfect compared with other places in the world, it covers every stage of our life: from birth, growth, education, career, medical care, retirement until death. Though Uber is no longer available, we have public transport fare subsidy. We can also share the fruits of its economic development under the Wealth Partaking Scheme annually. In contrast to the turbulent global pattern, this place is unrealistically lovely.
In the first exhibition of Find Art Association in 2018, we are going to introduce two talented young artists – Lin Ge and Fatty Ho. They have been publishing works in various areas through words, illustration, computer graphics and short film etc. Fate brings us together in this exhibition with artworks of “Joy in Misery”, let’s try to observe and explore life in this unrealistic city, and we may question ourselves: are we really happy? It is hard to reveal our true self in our life, fortunately, there is art. I hope this exhibition can inspire more people to care about the world and their surroundings.
策展人
Curator
蘇侃哲
José Lázaro das Dores
____________________________________________________
展覽開幕儀式
2018年3月16日(星期五) 18:30
展覽開放日期
2018年3月16日至4月3日
展覽開放時間
逢星期二至五 18:30－21:30
逢星期六至日 13:30－21:30
展覽地點
MMM Workshop
澳門媽閣街45號金利樓地下
Opening Ceremony
16 March 2018 (Friday) 18:30
Exhibition Period
16 March 2018 to 3 April 2018
Opening Hours
Tuesday - Friday : 18:30 to 21:30
Saturday - Sunday : 13:30 to 21:30
Exhibition Venue
MMM workshop & JUJU studio
Barra No45 Edf Kam Lei R/C
