Thai economy in crisis: Japanese engineering firm to shut at end of the month

[jlwilliamsjr18]

Economics is a political tool for corralling the peoples minds to continue their spending.  You can expect rose colored glasses, snake oil and broad smiles to spin public confidence.  

Edited July 23, 2019 by jlwilliamsjr18

[mikebell]

Another one bites the dust.  All you nay-sayers should stroll round Pattaya and see the businesses shuttered and offered for sale.  Or visit (as I did for the last four months) thirty moobans where the 'for sale/rent' signs proliferated.

[dotpoom]

19 hours ago, canopus1969 said:

What a pathetic misleading headline, which genius dreamt it up  ????

Another prophet of "Doom and Gloom"...(just like many on here).

[MaxYakov]

Stop Mass Hysteria - Michael Savage (The Thai edition ... unfortunately is not available)

[shaurene]

20 hours ago, geoffbezoz said:

Prayuth is only a puppet.

It is so hard to understand. He took over the country to get it away from the Government at the time that was controling the PM at that time, and from then they have managed to control HIM.

 

The tourists were over flowing Thailand. A few started complaining they could not walk on the foot paths because of street venders. But that is Thailand and it is also a big part of why the tourists come here. But you get certain government ministers say we will clear this. 

They did and the PM listened to them, now the number one saying from our part of the works is.

"DONT TRY TO FIX IT IF IT IS WORKING" LIKE YOUR CAR, DONT TRY TO FIX IT IF IT IS WORKING.

Many of us Falangs seen the writing on the wall when they started to clear the streets. The street traders were a big part of the tourists reason they picked Thailand for there holidays.

will be hard to get it all back.

[DPKANKAN]

21 hours ago, geoffbezoz said:

Tip of the iceberg perhaps ?

Lets hope its the 'top' of the iceberg. When it comes rolling down it starts an avalanche and bye bye strong baht!!????????????????

[kevin612]

Fake news, Thai economy is very strong now

[Peterw42]

What if this company was making VHS video recorders and the closure is simply nobody want to buy a VHS player. Maybe the Thai economy only wants to buy Betamax. 

[DPKANKAN]

1 minute ago, Peterw42 said:

What if this company was making VHS video recorders and the closure is simply nobody want to buy a VHS player. Maybe the Thai economy only wants to buy Betamax. 

If they were still in vogue you can be dam well sure that the Thais will choose the betamax system!!!55555

[jessebkk1]

20 hours ago, Kim J said:

The Sanyo you are referring to was a multi billion dollar electronics company trading worldwide, and was taken over by Panasonic in 2009.

This incident relates to a small engineering facility employing 18 people in Thailand!!! This does not constitute an economic crisis in Thailand, or a global economic downturn.

  I know at least a thousand foreign owned SME's that have closed in the last 2 years alone. Hell I personally closed 3.

 The japs are very resilient and don't just shut down and close in the midst of a mild turbulence. When a Japanese subsidiary that is part of a Multi-billion dollar conglomerate closes shop and blames the economy for it, it's time for you horn blowers to come down from your high horses.

 

  Don't take my word for it!

 

[kcpattaya]

Meaningful report.
So how many staffs were laid off?

[peter14]

bit of Karma....  when you see how hard it gets  to get a tourist visa ..   deserve it 

[Paul Henry]

The previous topic highlights the impotent Government when they say Canabis is a major priority. What they mean is this is another opportunity for the top end of town to take control of the industry so the can again financially rape the country rather than govern for the people and betterment of Thailand with meaningfull policies and governance.

[moutamine]

What a garbage story!  Sanyo has been in trouble for years everywhere in the world with their crappy electronics. This has nothing to do with the econonmy.  

Edited July 23, 2019 by moutamine

[hotchilli]

22 hours ago, Kim J said:

Unfortunately this type of sensationalism is the norm now when it comes to the news media. It is the same the world over.

Most publications now seemingly would never consider letting the truth get in the way of a good story.

The three Japanese workers will simply return home, and the 15 Thai's will either get a new job or continue to support themselves from one illegal activity or another. How can that constitute a "crisis"??

When a few more thousand start joining the ranks of the unemployed !

[Chrisswe]

22 hours ago, geoffbezoz said:

Prayuth is only a puppet.

Yes this started roughly 5 years ago slowley but safe until the current situation, and worse it will be !!!!

[Jack P]

Thailand has a relatively low national debt to GDP. It’s not an economy in crisis like Greece or Venezuela are.

[SuperTed]

We are living in an era of Facebook journalism. If it's not eye-catching, it's not read. And articles have to be read to attract the eyeballs which generate ad revenue. All the sites, including this one, receive data on how much each article is viewed.

 

Funny enough, I am *guessing* the more we comment on an article, the better it's eyeball stats. So the sites are encouraged to post comment-worthy nonsense!

[hansnl]

22 hours ago, Lucius verus said:

Thailand has been in a downward spiral since the army overthrew a democratically elected gov several years ago.

Consumption and confidence is way down and small businesses have to shutter due to ever rising costs..

The country is run by corrupt sycophants.

Even the tourism industry is a mess.

Indians won't save Thailand.

There is another round of tax increases due in October.

Prayuth has to be removed ASAP.

Thailand has been in a slow spiral downwards since around 2000, and is now reaping the benefits of the overvalued baht, nothing else.

Factories close to continue somewhere else where it is cheaper, tourists stay away, expats go away, certainly not helped by the nearly Chinese fear of western ideas and westerners.

[SuwadeeS]

The last shuts the light.

[Brickbat]

Buy, buy, buy. Money is so cheap! Borrow. No collateral? Mai pen rai. Keep up with the ....mmmmm......Shinawatras? 

[moe666]

23 hours ago, Kim J said:

Unfortunately this type of sensationalism is the norm now when it comes to the news media. It is the same the world over.

Most publications now seemingly would never consider letting the truth get in the way of a good story.

The three Japanese workers will simply return home, and the 15 Thai's will either get a new job or continue to support themselves from one illegal activity or another. How can that constitute a "crisis"??

In your estimation the jobs the Thais held down at the firm was a illigal activity, you have any evidence of illigal activity other than imigination

[MartiniMan]

Tip of the iceberg 

[MartiniMan]

21 minutes ago, Brickbat said:

Buy, buy, buy. Money is so cheap! Borrow. No collateral? Mai pen rai. Keep up with the ....mmmmm......Shinawatras? 

so funny I have had thais ask me for loan and didnt even understand collateral concept!! I was so shocked

Turned out they had been given over 2 mln baht - no collateral at all apparently this is common practice

Tick tock tick tock

Same setup as 2008. Wait till the whole thing falls and buy a house for dirt cheap

These condos are going to be selling at under 80% cuts by the time they realise its in a nosedive

Current management has no idea how to operate economic policy imho they need help

[mickyr55]

1 hour ago, DPKANKAN said:

If they were still in vogue you can be dam well sure that the Thais will choose the betamax system!!!55555

Betamax was a far superior system to VHS but for some reason VHS become popular with the masses probably due to price of the machine but even early betamax machines had features you could never get on VHS many years later 

[BritManToo]

5 minutes ago, MartiniMan said:

Same setup as 2008. Wait till the whole thing falls and buy a house for dirt cheap
These condos are going to be selling at under 80% cuts by the time they realise its in a nosedive
Current management has no idea how to operate economic policy imho they need help

It's never going to happen, banks are now prohibited from selling repossessed property for less than the outstanding loan.

And everyone gets 90% loans.

Edited July 23, 2019 by BritManToo

[Burma Bill]

23 hours ago, geoffbezoz said:

Prayuth is only a puppet.

Of the CHINESE!!

[metisdead]

A troll post has been removed. 

[Surasak]

23 hours ago, geoffbezoz said:

Prayuth is only a puppet.

The puppet master must be vary good, I can't see the strings.

[Roy Baht]

3 minutes ago, BritManToo said:

It's never going to happen, banks are now prohibited from selling repossessed property for less than the outstanding loan.

And everyone gets 90% loans.

There will be plenty of cheap condos that haven't even been sold yet--let alone repossessed by banks. I also know from first hand experience: there are people who have paid for their condos in full but want to unload them quickly and to do so will have to send them cheap.