the daughter of former prime minister thaksin shinawatra. the winning candidate, and their party will have to grapple with a slew of domestic issues including polarised politics and a slowing economy. for more on this, i spoke to syetarn hansakul of the economist intelligence unit, who told me thailand is slowly recovering from the pandemic. economic situation has improved from last year. it is in the middle of a cyclical rebound because coming out of the pandemic recession a bit later than others, but finally, after the country reopened in late 2022, the tourism sector, which has been a key part of the country s gdp, is recovering slowly. that is helping to improve jobs and income, and we are seeing the rebound unfolding. but having said that, there are plenty of structural issues that are hurting thailand s long term. competitiveness, and that is something the new government will need to look into and correct. given everything that you have described, what is your outlook
competitiveness, and that is something the new government will need to look into and correct. given everything that you have described, what is your outlook for growth and for thailand this year and next? we think that thailand this year will still see the fruit of the signatory rebound. so the economy will probably grow faster compared to last year. we expected gdp to go up 8% for 2023. shares in the american bank pacwest have plunged more than 20% after its deposits fell by one and a half billion dollars last week. there was a run on deposits following reports the bank was considering a sale to bolster its finance. pacwest is one of several us regional lenders whose shares have been hit by concerns over the health of the banking sector, following the collapses of silicon valley bank, signature bank and first repbulic. banks have been told
baker signed the grand bargain bill which will increase the minimum wage from $11 to $15 by 2023. shares of walgreen, cvs and rite-aid tanked yesterday with the companies losing 11 billion bucks. they got amazoned. after amazon purchased the new online pharmacy pill pack. for more, i m going to head over to cnbc s brian sullivan at the nasdaq. it is amazing, brian, as soon as amazon knocked on your door or your neighbor s door, it s like sudden death. why is it such a big deal? i love how you used it as a verb. they got amazoned. taken out behind the pharmacy woodshed i guess is the better way to say it. everybody s terrified. what does amazon do? any industry they go into, they either tend to win or at least come close to winning. what they bought is a company called pill pack. it s an online distributor of medicine, pills, et cetera. everybody s terrified they re going to come into an industry which is engrained in its ways. everybody s comfort. they ve got their profit margins all