Thailand job losses may hit 10 mln if virus outbreak drags on

[JAG]

On 4/13/2020 at 4:04 PM, Liverpoolfan said:

Hope they have plenty savings in the bank and haven't squandered it all on big cars and smart phones.

 

Times are about to get tough! 

Most of those who are worst affected, have lost their jobs and are being refused state assistance have never had money to squander. They will be the B300 a day day workers. Their income will have stopped on the last day they worked. Money in the bank!

[Lord Lucan]

On 4/13/2020 at 12:03 PM, rasmus5150 said:

China will come to the rescue and buy all the bankrupt businesses.

 

It's already starting. Failing business etc is being taken over by the Chinese. Some would call it financial aid, some would call it master-plan succeeded...

yes correct that was the plan from the start and not only for Thailand.

[3NUMBAS]

food banks have no free grub for the despaerate

[kingdong]

10 hours ago, kentrot said:

SIGN OF THE TIMES:

Here in Jomtien - the number of "For-Sale's" is over 7,500 and rising. And prices are dropping to half. And yet there are still indications that developers refuse to leave one blade of grass un-turned . Condo projects are going up like "CANCER" taking over it's host.

 

This reminds me of the song "Pave Paradise, put up a parking lot". We will be / are already  looking at a ghost town of empty shells.

 

My opinion is --- this is what rich people -- Thai's , Chinese, Russians, .. --  do with their spare cash rather than put it in financial institutions that are more risky.

 

What a f*&%^$g eyesore of empty concrete shells this area has become.

MAP- showing 30 of 7,504 properties for s

If what you say is true ( not that I disbelieve you) Thailand is heading for an almighty burton,the effects of foreign investment was vastly underestimated and treated with contempt,and this emergency is not going anywhere in a hurry and the after shock will be felt for years,a similar thing occurred with the sub prime loans which led to the 2008 crash,the coming one will be a lot worse and international.

Edited April 14, 2020 by kingdong

[metisdead]

Off topic posts and the replies have removed.  This topic is about:

 

Thailand job losses may hit 10 mln if virus outbreak drags on

 

 

BANGKOK (Reuters) - Thailand's job losses may reach 10 million if the coronavirus outbreak continues for a few months, a business advisory council said on Monday.

 

Southeast Asia’s second-largest economy is being hit hard by the virus outbreak and is heading into a recession.

 

[Marcus Atwood]

9 hours ago, Dukeleto said:

When ones looks at the devastation to world economies and how quickly the virus spreads and you look at China with theres still hovering in the low 80,000's for several weeks now I am starting to look a little more closely at the conspiracy theory that this was unleashed on purpose. China has been in a bitter trade battle with the USA with the four years since Trump became president and this contagion is wreaking havoc in the one place they want it to. Isn't it funny how China, with more people and a supposedly inferior health care system has, relatively speaking, virtually contained the spread while the virus has and still is spreading like wildfire in the West and many other Asian countries. Either they are lying blatantly about their figures or they had some trick upon their sleeves. At this point I am still leaning towards them telling "porky pies" but if it is true I need to look to the fact that this was done on purpose. In any event, man made or natural, released on purpose or not, this came out of China and the world needs to make them pay reparations and make sure that the cause of it is found and is prevented from happening again. If it was animal to human transmission from a wet market the world needs to make sure they are all shut down immediately. If not, simply shut down all trade and manufacturing within China until it does. The cost of doing so has to be less than the cost already wrought on the world so far with no end in sight as I write this. It is utterly and completely unacceptable on their part.

Where do you think the US is getting the $10 trillion stimulus from? China is paying for it ????. The US is taking it out of the debt it owes China. Although to be fair, it's not like the US ever planned on paying off its debt. Perks of being number: who's going to come collect? No one...so debt is not a big deal for the USA. The USA needs to fire up the printing presses and start printing that fake money ASAP and buying up all available land in Southeast Asia, India, Africa, and South America while they still can. They can't let China beat them to the punch. 

[kingdong]

8 hours ago, Andrew65 said:

I feel desperately sorry for many Thais now. Unlike in many Western countries, the economic effects are immediate & devastating.

And you think it,'ll never happen in the west?

[blackcab]

A comment on moderation has been removed.

[Blumpie]

Domestic tourism is basically not going to exist unless you are the 1 percent.  

When can tourism get going again?  When can the world's economy get roaring again?  I fear it may not be for a long while yet.  

Hope I'm wrong.  

[GAZZPA]

2 hours ago, CGW said:

It is an emotional subject, but life does have a price, at this moment in time we are exceeding that price! https://www.rt.com/op-ed/485110-covid-19-lockdown-deaths/

 

As you state, the numbers are all over the place, the testing that is being done is not accurate as the tests are not accurate as stated in government literature! "The test cannot rule out diseases caused by other bacterial or viral pathogens." many things test positive for CV19, the test is not accurate enough for the ridiculous actions being taken, there are now so many involved with ulterior motives! that must be blindingly obvious to anyone!

https://www.fda.gov/media/136525/download

 

The biggest problem with this "shutdown" is we have a media that has become so corrupted by the corporations it works for, they no longer give us facts and truth, instead they influence our opinions with half truths & scaremongering by cherry picking what they deem we should know.

There is probably a lot of truth in what you say. So the question still stands is the lockdown going to harm more people then the virus itself? Right now it is impossible to say because as you rightly said we don't really know the full impact of the virus. I suspect that if the lockdowns go on and on it will soon become apparent that the tool we are using to tackle the virus is not the better of 2 evils. I hope I am wrong and the lockdowns will ease off relatively quickly before people become very desperate and then the world will lick its wounds and start trucking again.

 

I don't like Thailand and I moved my family out of there for many reasons that are not on topic. However the one thing I will say is I admire Thai people for their very industrious, almost entrpeneurial way they can take some basic things and create some kind of income, be it selling noodles on an old table or opening and shop selling all sorts of stuff. The problem is i suspect most are off the grid as such (no regtistration or taxes) so there is no help for them and at present they cannot do what they do best and help themselves. I believe this is the case for most, if not all developing countries. It is pretty obvious the longer this goes on the more desperate people will get. 

 

good luck to you, stay safe.

[Caldera]

10 millions out of 38, many of whom don't have substantial savings but a lot of consumer debt - that's a very scary prospect!

 

[Andrew65]

2 hours ago, kingdong said:

And you think it,'ll never happen in the west?

Good God no, many people in the west are totally oblivious to the financial s***storm that's heading their way.

The only thing being, they tend to have more protections than many Thai people. (For now)

[whiro]

7 hours ago, LukKrueng said:

 

You completely miss the point. It has nothing to do with the number of active Covid19 cases in Thailand nor the number of dead or will die from the virus.

The whole world is in standstill situation now. Travel and tourism industry and all that is related to that is DEAD all over the world - not only in Thailand. Even if Thailand lift all restrictions to the point it was the day before the 1st case was reported - Thailand (actually pretty much every country in the world) is not an isolated, independent and self sufficient country, and the restrictions and economic crisis all over the world will still effect Thailand.

Unless more and more countries realize that there is no real way to STOP the spread of the virus, and all movement restrictions, although MIGHT slow it down a bit, will do more harm to the economies and eventually to the people all over the world, the end result from the economic downfall will be far worse than the death toll from the actual virus.

 

your comment is the one that explains what's going on the best. I have the same view on it looking at it from the global point of view. We all, and I mean really all of us, are in this together and have to come out of it together..... nobody knows when, nobody knows how, at this point, we all are just guessing, and some are pointing fingers at each other instead of cooperating each other. 

If I may guess, half of world population get infected, and when 70 % of those get cured we start seeing a sign of it slowing down. I don't even wanna guess the death rate. That all depends on how each country is set up with their medical system and how we consider and help each other. 

 

Edited April 14, 2020 by whiro

[eeworldwide]

How about this post?  

 

[humbug]

3 hours ago, Marcus Atwood said:

Where do you think the US is getting the $10 trillion stimulus from? China is paying for it ????. The US is taking it out of the debt it owes China. Although to be fair, it's not like the US ever planned on paying off its debt. Perks of being number: who's going to come collect? No one...so debt is not a big deal for the USA. The USA needs to fire up the printing presses and start printing that fake money ASAP and buying up all available land in Southeast Asia, India, Africa, and South America while they still can. They can't let China beat them to the punch. 

You have to be a pro-Beijing troll to think US owes China, China is far more in debt than any western civilized country, and China still owes the west 700 billion in war bonds debts from the last world war

 

very few people on this planet want to be controlled by control freaks of communism, most people would always choose a free and fair rule society, communist China are like icarus, get too close to the sun, and it all comes crashing down, once the Chinese firewall is dismantled, I would give the communists less than 12 months of survival 

[eeworldwide]

8 hours ago, LukKrueng said:

 

You completely miss the point. It has nothing to do with the number of active Covid19 cases in Thailand nor the number of dead or will die from the virus.

The whole world is in standstill situation now. Travel and tourism industry and all that is related to that is DEAD all over the world - not only in Thailand. Even if Thailand lift all restrictions to the point it was the day before the 1st case was reported - Thailand (actually pretty much every country in the world) is not an isolated, independent and self sufficient country, and the restrictions and economic crisis all over the world will still effect Thailand.

Unless more and more countries realize that there is no real way to STOP the spread of the virus, and all movement restrictions, although MIGHT slow it down a bit, will do more harm to the economies and eventually to the people all over the world, the end result from the economic downfall will be far worse than the death toll from the actual virus.

 

Well - I'm not completely missing the point. I just chose not to mention the points you have made - which are of course, plainly obvious and accurate.

I would suggest that perhaps Thailand is missing the point. The delay in doing anything constructive early on in the process, and the seemingly strange number of cases and deaths may only serve to exacerbate the problems that come on the heels of a pandemic - such as you have mentioned.

We are officially entering a period of depression WORSE than the Great Depression of the 1930's. I dont take Thais generally to be a violent people, but unless there is a fair support structure, hungry people will do a lot to get what they want.....

[twizzian]

There will be an influx of muggings and burglaries as people get more desperate for survival.

[kiwikeith]

On 4/13/2020 at 9:56 PM, eeworldwide said:

I agree to a point, but there are a huge number of jobs in the tourism industry that will not come back.

The domino effect of the pandemic will hit existing hotels so much that they wont recover without getting bailed out. If you think about the number of hotels there are in Thailand, it's simply not going to be possible for them to be bailed out unless there is a major stimulus package given out by the government. And even if that does happen, some hotels will not survive anyway because tourism is kinda screwed isn't it.  I mean, most countries are going to be focussing on resurrecting and supporting local economies rather than taking trips to exotic parts of the world. close to the origin of the virus.

Government set to open airports 28th so expect a wave of tourist from wuhan to the rescue and Chinese investors will buy up the hotel bargains

[Andycoops]

On 4/13/2020 at 4:16 PM, RichardColeman said:

So, 10 million will lose jobs (25%+ of the population) due to less than 1 days death toll on the road ? Something does not add up there or someone is not being honest somewhere about something

Thailands population is just under 70 million so your way off.

[OnTheGround]

3 hours ago, kiwikeith said:

Government set to open airports 28th so expect a wave of tourist from wuhan to the rescue and Chinese investors will buy up the hotel bargains

 

Second wave of virus.

 

Wouldn't count on 28th to reopen airports, until we see it.

[smudger1951]

As with Pound which fell 20% after the brexit vote, the Boe has steadily lowered the bsse rate to encourage business but has made the UK like a fire sale to foreign investors.

[superal]

13 hours ago, GAZZPA said:

i think it goes without saying the numbers are not true, they are not accurate anywhere. I suspect millions across the world are infected and tiwice as many people have probably died. The UK has over 11,000 deaths, the government made a statement they will do everything they can to keep it below 20,000 deaths. Today we have found out that 2,000 care homes have been hit with the virus. So the deaths rates (which do not include the number in the care homes) will probably be 20,000 already. I think the spread of the virus seems to be slower in hotter climates and I have read there is some evidence to support that, however it doesnt mean it is going away. I agree with you somebody should be asking the tough questions now, "are we doing more harm to the population of each country by locking them down and crashing the economies rather then letting the virus run its course?" 

 

in everycountry there will be many deaths of course and the healthcare systems will struggle to cope but at the moment people are gong to starve, commit suicide or find themselves homeless and unemployed. 

 

what a horrible situation we are all in. Stay safe, good luck to you all.

If we stick to the topic for a moment . Thai unemployment has as we know been caused by the curfew . The incidence of C19 is mild in comparison to other countries of similar population . I am hoping that the hot climate is the reason with neighbouring countries seemingly suffering less , as below 

Thailand 2613 cases 41 deaths , Vietnam 266 cases no deaths , Cambodia 122 cases no deaths , 

Myanmar 63 cases 4 deaths , Laos 19 cases no deaths . Of course can we believe the figures accuracy ?

Thai hospitals are not being stretched so the numbers are reflecting that .  It may well happen that Thailand  could win the battle with the virus and then what ? Everyone back to work hopefully but what will become of the airports and inbound flights from virus infected countries ? If Thailand locks its doors what will become of the export manufacturing companies ?  The 1918 Spanish flu lasted 3 years , so this C19 needs to be beaten asap before it mutates and becomes out of control . 

[Dazinoz]

2 minutes ago, superal said:

Thai unemployment has as we know been caused by the curfew

Really, by the curfew? 

[KhunFred]

If this does not spark the Thai version of the French Revolution, then there is no hope for Thai people.

[BritManToo]

4 hours ago, Andycoops said:

Thailands population is just under 70 million so your way off.

Only 40M are of working age.

[BritManToo]

11 hours ago, eeworldwide said:

I dont take Thais generally to be a violent people, but unless there is a fair support structure, hungry people will do a lot to get what they want.....

You're confusing Thailand with western countries.

I wouldn't like to try and live off the land in the UK, growing season is too short.

Hunting, gathering and farming is still a normal way of life for many people in Thailand.

Edited April 15, 2020 by BritManToo

[19DL86]

12 hours ago, twizzian said:

 

There will be an influx of muggings and burglaries as people get more desperate for survival.

 

Absolutely true 100pc.  And I know where will be easy pickings too!

 

Over the past few years whilst I was out cycling around I noticed all these new "high end" villages that sprung up out Huay Yai, Na Jomtien Bangsaray and Silver Lake areas.

 

No police stations for miles, Bangsarey shuts at 18.00 and SattaHip police are notoriously slow, takes a good hour or so.  Was always a lot of house break ins out there previous to this.

 

Now with all the new roads the thieves will be gone in any direction within 10 mins.  Scary times ahead for those with money out that way.

[Andrew65]

On 4/13/2020 at 7:56 PM, Andrew65 said:

Yes, but remember, Bangkok was partly founded by Chinese migrants/merchants.

When the white man showed up in Africa the white man had the bible and the black man had the land.

Wasn't long before the white man had the land and the black man had the bible!????

[humbug]

31 minutes ago, Andrew65 said:

When the white man showed up in Africa the white man had the bible and the black man had the land.

Wasn't long before the white man had the land and the black man had the bible!????

You are completely wrong about the Chinese financing the creation of Bangkok, this is a lie, the families at that time with great power, created the ‘Ascension Council’ a group of families connected to the Safavid empire going back centuries, the chinese became powerful, and started to emigrate to Siam/Thailand in huge numbers 150 years ago, onwards, Thonburi, then Bangkok were created well before the Chinese became influential, these are facts 

[Andrew65]

12 minutes ago, humbug said:

You are completely wrong about the Chinese financing the creation of Bangkok, this is a lie, the families at that time with great power, created the ‘Ascension Council’ a group of families connected to the Safavid empire going back centuries, the chinese became powerful, and started to emigrate to Siam/Thailand in huge numbers 150 years ago, onwards, Thonburi, then Bangkok were created well before the Chinese became influential, these are facts 

Did I say they "financed" it, no I did not, you said that.

Han Chinese traders, mostly from Fujian and Guangdong, began arriving in Ayutthaya by at least the 13th century. According to the Chronicles of Ayutthaya, King Ekathotsarot (r. 1605–1610) had been "concerned solely with ways of enriching his treasury," and was "greatly inclined toward strangers and foreign nations,

Moving to more modern times, thousands of Chinese immigrants that came from Southern Chine settled in Siam and had a massive impact on the development of the new Thai capital city in 1782 that went onto becoming Bangkok, or by its local name, Krungthep Maha Nakhon. Bangkok’s Chinatown was born, which is currently known as ‘Yaowarat’ and is one of the largest Chinatowns in the world.