Over 1,300 factories were up for sale or out of business in first 10 months of 2019

[Assurancetourix]

35 minutes ago, worgeordie said:

Just the other day it was reported ,droves of companies

are relocating here from China,because of the US sanctions,

So is that fake news ? if only Thai people knew the real truth.

regards Worgeordie 

 

Fake news ..

So many fake news ;

Explain me why thai companies have their work done in China, Cambodia or Vietnam?

because the cost of labor in these countries is cheaper than in Thailand.

Why would the Chinese delocalize in Thailand or the cost of labor is generally more expensive than in China where  millions of prisoners work for almost nothing.

[smutcakes]

3 minutes ago, Assurancetourix said:

Fake news ..

So many fake news ;

Explain me why thai companies have their work done in China, Cambodia or Vietnam?

because the cost of labor in these countries is cheaper than in Thailand.

Why would the Chinese delocalize in Thailand or the cost of labor is generally more expensive than in China where  millions of prisoners work for almost nothing.

Many manufacturers in any country have parts of their part supply chain outside of the country, that is entirely normal.

 

There are a good number of Chinese companies coming here, especially to areas like Thai Chinese Industrial Estate by Amata, they cannot get land quick enough. Obviously a tiny % of companies moving from China to Thailand is a flood given the differentials in the size of the market.

 

The economy is not great at the moment in Thailand and around the World, but to claim there are no Chinese companies locating here shows you have pretty limited knowledge on the subject.

 

And i also believe that China labor rates are actually higher than Thailand now.

[ezzra]

Khon Kean was once a bustling up and becoming a new metropolitan with lots of rosy plans for the future, it is eerily quiet now almost deserted from once booming and lively real estate market with many unwanted new housing and apartments, also several Unis that used to have thousands of pupils are all gone now and the whole place is sinking into a doldrum existence, and this is just one place in Thailand...

[rkidlad]

11 hours ago, steven100 said:

agree ....  however this is not only happening in Asia it is the same in Australia. Many large companies closing or going bust, building companies, banks laying off staff, retail sales has actually gone into recession, the global downturn in every economy is starting to hit and I believe things are going to be dire for years to come.

 

But it wasn't that long ago you were praising Prayut and saying the economy was looking good. Even though at the time it clearly wasn't. 

[banagan]

I export goods from China and Vietnam. Would like to from Thailand, but the baht is way too strong.

 

Sort it out Thailand. 

[Assurancetourix]

7 minutes ago, smutcakes said:

but to claim there are no Chinese companies locating here shows you have pretty limited knowledge on the subject.

 

We will have to buy new glasses ..
I never wrote that;
on the other hand I wrote:
Why would Chinese companies come or relocate to Thailand where the cost of labor is higher than in China where work almost for free millions of prisoners?
and  countries like Cambodia, Burma, Laos and Vietnam are even more competitive than Thailand.

 

Business is business; the Chinese installed in Thailand will do in the countries mentioned above what they could do in Thailand but by making more juicy profits.

Edited November 12, 2019 by Assurancetourix

[mickey rat]

11 hours ago, yogi100 said:

That same beer in the same bar was 130 baht the last time I was in Pattaya in July.

Oh boy, 10 baht! That's it, no more girly drinks!

[mehrdad]

Disagree!!! 
every thing is good and 1000 baht package and 100 package is working DEE ( translated GOOD ) 

Not worry ????

[Andrew65]

32 minutes ago, smutcakes said:

Many manufacturers in any country have parts of their part supply chain outside of the country, that is entirely normal.

 

There are a good number of Chinese companies coming here, especially to areas like Thai Chinese Industrial Estate by Amata, they cannot get land quick enough. Obviously a tiny % of companies moving from China to Thailand is a flood given the differentials in the size of the market.

 

The economy is not great at the moment in Thailand and around the World, but to claim there are no Chinese companies locating here shows you have pretty limited knowledge on the subject.

 

And i also believe that China labor rates are actually higher than Thailand now.

How much of this currently is to do with Mr Trump playing hardball with China over trade?

I saw a documentary a while ago about how Mr Clinton pushed so hard for China to be admitted to the WTO.

 

They called Bill "Chump of the Century" over this!?

I'm no big fan of Trump, but I can see where he's coming from on this stuff.

Edited November 12, 2019 by Andrew65

[British Bulldog]

I heard that the BIG Boys don't want to invest in a Country ruled by the Military, (past tense), especially after what happened to the Aussie Gold company who got kicked out with no formal explanation from the Thai Government, and the fight still goes on between the Aussie investor with help from the Aus. Govern. against the Thai Govern.

[smutcakes]

24 minutes ago, Assurancetourix said:

 

We will have to buy new glasses ..
I never wrote that;
on the other hand I wrote:
Why would Chinese companies come or relocate to Thailand where the cost of labor is higher than in China where work almost for free millions of prisoners?
and  countries like Cambodia, Burma, Laos and Vietnam are even more competitive than Thailand.

 

Business is business; the Chinese installed in Thailand will do in the countries mentioned above what they could do in Thailand but by making more juicy profits.

Stop being ridiculous, Chinese labor costs are higher or on a par with Thailand. There are not millions of prisoners working almost for free.

 

Places like Burma, Cambodia and Laos  may have cheaper labor rates but there are many other factors affecting why a company would locate there. All of them have terrible bureaucracy, Laos has unstable and expensive power, is about 1000 km from the nearest deep sea port, even lower skilled labor than Thailand etc etc

 

Labour is one piece of the jigsaw but there are many others.

[Kaopad999]

Is it really any surprise when this country is controlled by the military? Wake up! 

[smutcakes]

3 minutes ago, Andrew65 said:

How much of this currently is to do with Mr Trump playing hardball with China over trade?

I saw a documentary a while ago about how Mr Clinton pushed so hard for China to be admitted to the WTO.

 

They called Bill "Chump of the Century" over this!?

 I think a lot and many far more knowledgeable people than me predict it will get worse before it gets better.

 

I believe some of the EEC scheme is positive and needed, but they have been fairly lucky it has coincided with Donald doing his thing with China.

 

Manufacturing in China is getting far more challenging though, so they are not exactly helping themselves.

[smutcakes]

7 minutes ago, British Bulldog said:

I heard that the BIG Boys don't want to invest in a Country ruled by the Military, (past tense), especially after what happened to the Aussie Gold company who got kicked out with no formal explanation from the Thai Government, and the fight still goes on between the Aussie investor with help from the Aus. Govern. against the Thai Govern.

Which BIG Boys are you referring to?

I think investing in manufacturing here is a far cry fro the complex issues surrounding mineral deposits and state concessions.

[zydeco]

6 hours ago, kingofthemountain said:

It's not a problem at all

some more ''hub'', a pinch of EEC, 2 or 3 hot air in the media from the

concerned minister and everything should be going well

Hey, don't worry about these closures and that strong baht. Because the Big Boys are taking out of the country making investments elsewhere and buying houses and property with their favorable exchange rate. Who cares if the peons are snuffed out in the process.

[StayinThailand2much]

And this despite foreign investors knocking down Thailand's door, eager to invest record sums (if you can believe recent news items)?? Something doesn't add up here...

[tjo o tjim]

10% of Thailand’s economy is auto manufacturing, and that is hurting badly due to a lack of strategic investment.  Another 10% is tourism... which isn’t doing great, but short term can make the numbers look positive (just not in GDP% terms).  From where I sit, the military government is part of the issue— a desire for a strong Baht, lack of fundamental stability, etc.  The other part though is that Thailand’s regional and global alternatives are  becoming much more attractive.  Places that nobody would consider investing in a high-tech factory 10 years ago are suddenly moving to the top of the list.  Thailand started edging down when Western Digital flooded; there still hasn’t been a comprehensive strategy to address the problem.

[Assurancetourix]

6 minutes ago, smutcakes said:

Stop being ridiculous, Chinese labor costs are higher or on a par with Thailand. There are not millions of prisoners working almost for free.

 

Places like Burma, Cambodia and Laos  may have cheaper labor rates but there are many other factors affecting why a company would locate there. All of them have terrible bureaucracy, Laos has unstable and expensive power, is about 1000 km from the nearest deep sea port, even lower skilled labor than Thailand etc etc

 

Labour is one piece of the jigsaw but there are many others.

 

You must open our eyes and read other newspapers than those " aux ordres ";
In all the countries there are prisoners who work for next to nothing  and curiously China is the most populous country and also the one in which there are the most prisoners ...
I'll let you guess what's next ...

 

Laos produces a huge quantity of electricity that this country sells to Thailand, which itself resells a good part of it in Cambodia.
As for the cost of transport is peanuts compared to the selling price of a product.
Moreover, if the cost of transport was significant in the price of a product, it is a long time since Western countries have repatriated their production from China to their homes.

And finally, the train line linking China to Malaysia is nearing completion in Laos;
Laotian products made by Chinese factories and where Chinese workers work can easily "travel" to China first and then to the ports of Malaysia when the line is completed in Thailand.
(It has been around for a long time in Malaysia)

[Andrew65]

Just now, StayinThailand2much said:

And this despite foreign investors knocking down Thailand's door, eager to invest record sums (if you can believe recent news items)?? Something doesn't add up here...

I always got the impression that the reason that a lot of Western companies don't want to set up directly in Thailand is just how utterly corrupt it is.

Remembering that companies in the West can be busted for corruption in their home countries, for things which they got involved in overseas.

[Guderian]

Sheesh, another so-called story backed-up by ludicrous and irrelevant numbers. The Thai workforce is getting on for 40 million people, and we're supposed to get alarmed because some factories employing 35,000 people - around one-tenth of one percent of the workforce - might or might not be in trouble? Give us a break and get some meaningful statistics, please!

[overherebc]

2 hours ago, Denim said:

Relax. All part of returning happiness to the people. The thinking is that by mismanaging the economy , the government will cause more unemployment and the working classes will have a lot more free time to pursue their hobbies or wander aimlessly around shopping malls window shopping.

More time to enjoy the wine tastings as well so they can get the correct wine to go with their Somtam and not drink those dangerous spirits.

[Andrew65]

2 minutes ago, Assurancetourix said:

 

You must open our eyes and read other newspapers than those " aux ordres ";
In all the countries there are prisoners who work for next to nothing  and curiously China is the most populous country and also the one in which there are the most prisoners ...
I'll let you guess what's next ...

 

Laos produces a huge quantity of electricity that this country sells to Thailand, which itself resells a good part of it in Cambodia.
As for the cost of transport is peanuts compared to the selling price of a product.
Moreover, if the cost of transport was significant in the price of a product, it is a long time since Western countries have repatriated their production from China to their homes.

And finally, the train line linking China to Malaysia is nearing completion in Laos;
Laotian products made by Chinese factories and where Chinese workers work can easily "travel" to China first and then to the ports of Malaysia when the line is completed in Thailand.
(It has been around for a long time in Malaysia)

Saw a documentary years ago where they interviewed a Vice President of General Motors about moving production overseas.

 

He stated that only 7% of the cost of building a car was the cost of manual labour. Then there's distance, increased inventories in the market country, and the time and costs involved in shipping stuff half way around the World.

[sammieuk1]

Never mind the generals pockets are full nothing else matters ????

[mikebell]

Yet the Minister for Employment said today 'unemployment is at 1%'.  Of the 99% in jobs, how many of them work?  Check out Thaiwatsadu lurking in groups actively avoiding customers.  You could chop the payroll in half at any superstore.

[nervona81732]

Welcome to globalism!

[mindfulness]

9 hours ago, happy chappie said:

the futures so bright I've got to wear shades.i see this coming before I got married and that was over 3 years ago.

i used to say...teerak soon Thailand will have a financial money tsunami and here it comes.

most in this government probably thought it was good to have a strong baht.....oh yes we are champions,our baht super strong,better than any money around the world.

now the ship has started to hit the fan they are left scratching their heads and it's slowly dawned on them it ain't such a good thing.

with household debt thrown in this country is in for a proper rough ride.

should their ignorance buffalo standard brain be held accountable like ‘a dereliction of duty’ while reaping the benefits of a high baht welfare recipient, or should they be forgiven and provided with compassion of the amount of other people’s money that has dwindle and collapsed due to their selfish greed a a public idiot in public office, will the idiot PM take responsibility and resign or is his ego TO BIG ?  

[mindfulness]

9 hours ago, BestB said:

Once again contradicting news, Just few weeks ago, BOI stated heaps of new companies and investments.

 

Just like economy news, one day its falling apart, the next day is booming and growing.

 

One day tourist numbers are down, next day its an increase and more than ever

 

One day exports are down, next day exports have grown

 

Is everyone in this government suffering with bipolar?

 

Nah just <deleted> propaganda for the imbeciles who are unable to think for them self, who are unable to have self responsibility, and unable to self rule themselves. thanks to the idiots also then for this mess, let’s face it they vote idiots into seats of power ! 

[Krataiboy]

It can only get worse, as a major financial global crisis is forecast to be due within the next year to 18 months. But take heart. Thailand, however, is in far better shape to withstand the consequences than many of its Western neighbours, notably the UK (bogged down in Brexit) and an EU in the economic doldums and battling social fragmentation

[rkidlad]

1 hour ago, steven100 said:

The economic downturn is Global or haven't you realised that yet. 

enough said.

I haven't as I don't live in the UK and my friends and family have never mentioned anything about it. They seem to be doing just fine; whereas, my Thai friends have said a lot about the state of the economy here.

 

Anyhoo, you said Prayut was doing good things for the economy. The man who had article 44 for many years. Seems unfair that you'd credit him when you said the economy was doing well, but blame the outside world when the Thai economy is clearly in a state right now. 

[Andrew65]

23 minutes ago, mikebell said:

Yet the Minister for Employment said today 'unemployment is at 1%'.  Of the 99% in jobs, how many of them work?  Check out Thaiwatsadu lurking in groups actively avoiding customers.  You could chop the payroll in half at any superstore.

In most Western countries, where people are registered for unemployment (not sure if this happens in Thailand due to there being no real social welfare), it's stated that the lowest possible unemployment rate is never going to lower than around 5'ish%.

I always thought it (In)un-credible that Thailand could quote 1% as a realistic figure.