Thailand Hits Bottom Of Regional Economies

[george]

Thailand hits bottom of regional economies

BANGKOK: -- Thailand currently occupies the lowest rung on Southeast Asia's economic growth ladder after a poor 2006 performance, according to a United Nations report which forecasts even lower expansion this year.

The report, released on Wednesday, said that the kingdom achieved only 5.0 per cent GDP growth in 2006, compared to its 4.5 per cent growth in 2005.

While the Thai economy rose marginally, the forecast for the coming year is that Thai GDP growth is expected to be lower in 2007 than 2006, at 4.7 per cent, pressure for the baht's appreciation will likely continue, and investment looks gloomy, with only Indonesia performing more poorly in the region.

The United Nations Economic Commission for Asia and the Pacific (UNEscap) in its annual economic and social survey, "Surging Ahead in Uncertain Times", unveiled in a press conference at the Foreign Correspondents' Club of Thailand, noted that for the eighth year the region grew faster in regard to economy than any other region worldwide, registering 7.9 per cent growth in 2006, up from 7.6 per cent in 2005, but that Thailand isn't in the same picture.

--TNA 2007-04-19

[Mid]

for the eighth year the region grew faster in regard to economy than any other region worldwide, registering 7.9 per cent growth in 2006, up from 7.6 per cent in 2005, but that Thailand isn't in the same picture.

sums it up .........................

[bkkandrew]

Thailand hits bottom of regional economies

BANGKOK: -- Thailand currently occupies the lowest rung on Southeast Asia's economic growth ladder after a poor 2006 performance, according to a United Nations report which forecasts even lower expansion this year.

The report, released on Wednesday, said that the kingdom achieved only 5.0 per cent GDP growth in 2006, compared to its 4.5 per cent growth in 2005.

While the Thai economy rose marginally, the forecast for the coming year is that Thai GDP growth is expected to be lower in 2007 than 2006, at 4.7 per cent, pressure for the baht's appreciation will likely continue, and investment looks gloomy, with only Indonesia performing more poorly in the region.

The United Nations Economic Commission for Asia and the Pacific (UNEscap) in its annual economic and social survey, "Surging Ahead in Uncertain Times", unveiled in a press conference at the Foreign Correspondents' Club of Thailand, noted that for the eighth year the region grew faster in regard to economy than any other region worldwide, registering 7.9 per cent growth in 2006, up from 7.6 per cent in 2005, but that Thailand isn't in the same picture.

--TNA 2007-04-19

And these figures are before the effect of new visa regulations, the FBA, property bubble, currency control debacle, the Coup, Bangkok bombings et al. One wonders how disasterous the figures for the current year will be!

[jumnien]

In the words of the wise man, 5% should be sufficient for economic growth! Why should Thailand ratchet up to the unsustainable growth levels reached before the crash in 1997. Enough is enough. As long as Thailand's exports continue to far surpass its imports, things should be fine.

[Dakhar]

Got Rice?

[farang prince]

In the words of the wise man, 5% should be sufficient for economic growth! Why should Thailand ratchet up to the unsustainable growth levels reached before the crash in 1997. Enough is enough. As long as Thailand's exports continue to far surpass its imports, things should be fine.

How deep do you dig the hole in the sand for your head?

[bingobongo]

no more rainbows and lollipops mdeland, it appears the Junta is doing a splendid job of managing the Thailand's finances as they line their pockets

Govt suffers Bt190bn financial deficit 1st half of 2007

The Thai government suffered a financial deficit of about nearly Bt190 billion baht -- Bt189.43 billion -- in the first half of fiscal 2007, up from a deficit of only Bt74.69

billion during the corresponding period of Fiscal 2006, a Finance Ministry spokesman said Thursday.

http://etna.mcot.net/query.php?nid=29005

Edited April 19, 2007 by bingobongo

[bingobongo]

Four Asian nations hit by 1997-98 financial crisis face vulnerability

Thailand now faces greater risks due to a decline in the ratio of foreign reserves to short-term debt and an increase in short-term capital inflows.

http://www.iht.com/articles/2007/04/19/news/currency.php

[Scott]

Does anybody have any insights on the currency and where it is going to go? Is this a good time to change baht for dollars?

(Thought I'd post here first and visit the fortune teller in Chaing Mai later)!

[solo siam]

Once you factor in the significant Baht rise against the Dollar I'm betting that Thailands Gross GDP (in $ terms as that is how its measured) ha sshot through the roof compared to the other countries.

Also its my understanding that more seasoned markets tend to grow at a slower pace, the fact that Thailand has a considerably higher GDP than most other SE Asian nations is also a factor, Thailands not 'losing out', the poorer nations surrounding it are just catching up a tiny bit.

I don't really understand all the doom and gloom on this forum nowadays, seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

[ThaiGoon]

seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

[Naam]

I don't really understand all the doom and gloom on this forum nowadays, seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

a phenomenon which jumped into my eyes the first day i joined this forum. the minority of these kind of postings might be justified due to some bad experience or unjust treatment. but the lion share of whining and derogatory attempts to place Thailand in the sewer is nothing else but disgusting.

we all must have had our fair share of shaking our heads and grinding our teeth, but there is always the alternative "if you don't like... LEAVE!"

[bkkandrew]

I don't really understand all the doom and gloom on this forum nowadays, seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

a phenomenon which jumped into my eyes the first day i joined this forum. the minority of these kind of postings might be justified due to some bad experience or unjust treatment. but the lion share of whining and derogatory attempts to place Thailand in the sewer is nothing else but disgusting.

we all must have had our fair share of shaking our heads and grinding our teeth, but there is always the alternative "if you don't like... LEAVE!"

I do. Once a month...

[blam]

I don't really understand all the doom and gloom on this forum nowadays, seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

a phenomenon which jumped into my eyes the first day i joined this forum. the minority of these kind of postings might be justified due to some bad experience or unjust treatment. but the lion share of whining and derogatory attempts to place Thailand in the sewer is nothing else but disgusting.

we all must have had our fair share of shaking our heads and grinding our teeth, but there is always the alternative "if you don't like... LEAVE!"

Ah yes well, spoken as a true neophyte.

I have been here in Thailand for 22 years this May 4th. During that time I have pumped approximately 130 million Baht into the economy here by way of company generation and direct funding. As most super long term residents from outside the country, I have watched Thailand slide into its own self manufactured putridity. It really is a shame. Deforested, colluded, polluted, and the total denigration of the foreigners, all done by Thai politicizations and localized manipulations.

Thaksin Shinawatra took down PM Chuan Leekpai for so called 'corrupt activities', in the Sor Por Kor 4-01 land reform corruption scandal, and it was a lie. Thailand continues to live the lie. The government policy makers insist on the manufacture of behaviors that leave the impression of Thailand as Japan. It is not Japan Dr. Naam.

I will say it again, as I have many times on this board (now tantamount to a dare): Ask any Thai to find Thailand on the world map, invariably they will point to North America. Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

"Ignorance is no excuse". Every court judge in the entire world says those exact key words just before sentencing the guy who's defense is "But I didn't think I was doing anything wrong!" Well, again, ignorance is no excuse Dr. Naam.

Thailand is losing market share in every sector faster than a puffy faced 40 yr old Bangkok so-pahnee. This is not doom sayer crap Dr. Naam, just ask Motorola, Toshiba, Sanyo, Sharp, Western Digital, Intel, Toyota, Ford, and Nippondenso. The big list continues this year as Microsoft rethinks its strategies for its erroneously devised but freshly built facility. Doom sayer indeed.

And, once again, it really IS a shame.

And, to whatever you might be thinking: I have a beautiful home in Phuket on 20 rai with a 180 degree view of the Andaman Sea~ an incredibly beautiful and ceaselessly amazing Thai wife~ 3 very successful grown children~ and 2 large vegetable gardens that occupy most of my time. These words don't come from a guy with sour grapes, just a real assessment of 'the now' and the immediate future. Be afraid Dr. Naam, something is going to happen. We old guys just see it coming before the newbies do.

Old and in the way in Phuket.

Edited April 20, 2007 by blam

[cdnvic]

Truth spoken without prejudice.

Well done Mr. Blam

[midas]

I don't really understand all the doom and gloom on this forum nowadays, seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

a phenomenon which jumped into my eyes the first day i joined this forum. the minority of these kind of postings might be justified due to some bad experience or unjust treatment. but the lion share of whining and derogatory attempts to place Thailand in the sewer is nothing else but disgusting.

we all must have had our fair share of shaking our heads and grinding our teeth, but there is always the alternative "if you don't like... LEAVE!"

Ah yes well, spoken as a true neophyte.

I have been here in Thailand for 22 years this May 4th. During that time I have pumped approximately 130 million Baht into the economy here by way of company generation and direct funding. As most super long term residents from outside the country, I have watched Thailand slide into its own self manufactured putridity. It really is a shame. Deforested, colluded, polluted, and the total denigration of the foreigners, all done by Thai politicizations and localized manipulations.

Thaksin Shinawatra took down PM Chuan Leekpai for so called 'corrupt activities', in the Sor Por Kor 4-01 land reform corruption scandal, and it was a lie. Thailand continues to live the lie. The government policy makers insist on the manufacture of behaviors that leave the impression of Thailand as Japan. It is not Japan Dr. Naam.

I will say it again, as I have many times on this board (now tantamount to a dare): Ask any Thai to find Thailand on the world map, invariably they will point to North America. Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

"Ignorance is no excuse". Every court judge in the entire world says those exact key words just before sentencing the guy who's defense is "But I didn't think I was doing anything wrong!" Well, again, ignorance is no excuse Dr. Naam.

Thailand is losing market share in every sector faster than a puffy faced 40 yr old Bangkok so-pahnee. This is not doom sayer crap Dr. Naam, just ask Motorola, Toshiba, Sanyo, Sharp, Western Digital, Intel, Toyota, Ford, and Nippondenso. The big list continues this year as Microsoft rethinks its strategies for its erroneously devised but freshly built facility. Doom sayer indeed.

And, once again, it really IS a shame.

And, to whatever you might be thinking: I have a beautiful home in Phuket on 20 rai with a 180 degree view of the Andaman Sea~ an incredibly beautiful and ceaselessly amazing Thai wife~ 3 very successful grown children~ and 2 large vegetable gardens that occupy most of my time. These words don't come from a guy with sour grapes, just a real assessment of 'the now' and the immediate future. Be afraid Dr. Naam, something is going to happen. We old guys just see it coming before the newbies do.

Old and in the way in Phuket.

blam I echo cdnvic - a clearly written opinion from someone who obviously has a wealth of business experience in this country.

" Pure abject unadulterated ignorance "- what do you attribute this to ? I have noticed the average Thai ( I dont mean senior executives,

college lecturers etc ) but just average people don't seem to have any interest or awareness as to what is going on in other

parts of the world and how these factors could ultimately affect their own lifestyle / businesses ?

[Mid]

Truth spoken without prejudice.

Well done Mr. Blam

Word

and to midas re , " Pure abject unadulterated ignorance "- what do you attribute this to ?

answer

feng shui fortunes

[Tony Clifton]

Ah yes well, spoken as a true neophyte.

I have been here in Thailand for 22 years this May 4th. During that time I have pumped approximately 130 million Baht into the economy here by way of company generation and direct funding. As most super long term residents from outside the country, I have watched Thailand slide into its own self manufactured putridity. It really is a shame. Deforested, colluded, polluted, and the total denigration of the foreigners, all done by Thai politicizations and localized manipulations.

Thaksin Shinawatra took down PM Chuan Leekpai for so called 'corrupt activities', in the Sor Por Kor 4-01 land reform corruption scandal, and it was a lie. Thailand continues to live the lie. The government policy makers insist on the manufacture of behaviors that leave the impression of Thailand as Japan. It is not Japan Dr. Naam.

I will say it again, as I have many times on this board (now tantamount to a dare): Ask any Thai to find Thailand on the world map, invariably they will point to North America. Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

"Ignorance is no excuse". Every court judge in the entire world says those exact key words just before sentencing the guy who's defense is "But I didn't think I was doing anything wrong!" Well, again, ignorance is no excuse Dr. Naam.

Thailand is losing market share in every sector faster than a puffy faced 40 yr old Bangkok so-pahnee. This is not doom sayer crap Dr. Naam, just ask Motorola, Toshiba, Sanyo, Sharp, Western Digital, Intel, Toyota, Ford, and Nippondenso. The big list continues this year as Microsoft rethinks its strategies for its erroneously devised but freshly built facility. Doom sayer indeed.

And, once again, it really IS a shame.

And, to whatever you might be thinking: I have a beautiful home in Phuket on 20 rai with a 180 degree view of the Andaman Sea~ an incredibly beautiful and ceaselessly amazing Thai wife~ 3 very successful grown children~ and 2 large vegetable gardens that occupy most of my time. These words don't come from a guy with sour grapes, just a real assessment of 'the now' and the immediate future. Be afraid Dr. Naam, something is going to happen. We old guys just see it coming before the newbies do.

Old and in the way in Phuket.

I'm no economist, far from it.

I know of one major international corporation, that I will not name, where one department declared profits of 11 million baht last year, a meagre 339,004.57 USD when it should have been hundreds of millions, if not a few billion baht... All the result of plundering within the company from local insatiable management. People have been fired but not brought before justice, as ''face'' would have been involved... Other departments are also run by corrupt individuals even trying to grab any opportunities not in their own reach within the company. You can bet that it is happening elsewhere in the private sector, and, combined with what is going on with the politics and it's effects on the economy, one by one, many plants will shut down and move elsewhere, while the ones who will have screwed everyone out of their jobs will be enjoying their ill gained fortunes.

Only a matter of time...

Edited April 20, 2007 by Tony Clifton

[solo siam]

blam, you must like it here and have been successful to have stayed for 22 years, 20 rai on Phuket is worth more than the total amount of money you have put into the local economy in your entire stay, I'm also guessing that you took some money out as well so obviously the economy has been good for you.

I just dont see a problem with a 5% or so rise in GDP, especially when measured against regional economies a 1/4 of the size.

In terms of companies, I can suggest some very successful Global partners manufacturing in Thailand including Samsung and Philips just off the top of my head, In regards to people like Toshiba, Sanyo and Sharp - those products are generally not as popular as the Korean products are nowadays, so are losing market share to the likes of LG and Samsung at quite a rate, I don't see how Thailand can be blamed for that.

It makes no difference to me if Thailand becomes a powerhouse or not, I would strongly disagree that a minimum of 5% growth over the last 5 years whilst weathering the Tsunami, Bird Flu, a coup etc... is a sign of a sick economy.

[highdiver]

so what???

so we are not number 1 in asia but we are still doing great

so what if the GDP is lower then last year its till 4.5 %. who ever said you need to be number 1 in GDP.

But is per-capita-GDP the right measure? It depends on what question you are asking. If you ask which country will have the biggest weight in global economics, certainly headline growth is much more important than per capita growth. However, if you are looking whether an economy is able to provide growing prosperity for its citizens, per-capita-GDP is the much better indicator. And on this account, the thais are doing much better then others.

European economic growth is likely to slow going into 2007, as weaker exports to the United States and a softening of consumer demand and business investment take affect amid higher interest rates, international ratings agency Standard & Poor's (S&P) says in its latest economic forecast for the region.

The article, titled, European Economic Forecast: A Strong Year So Far, But

A Slowdown On The Way, is part of a special S&P report in CreditWeek, due for

release on August 30.

"In the Eurozone, the way that higher interest rates affect demand in each country will partly depend on consumers' room for manoeuvre in terms of savings," said Jean-Michel Six, S&P's chief economist for Europe.

"Whereas savings rates are likely to go up in Germany and The Netherlands, thereby amplifying the slowdown, they could edge down in France, Italy, and Spain, mitigating the negative effects of higher interest rates," he added.

Externally, foreign demand for European products is likely to slow in 2007, and the euro exchange rate could well strengthen against the US dollar and the related Asian currencies, as markets focus again on the US current account deficits once the Federal Reserve reaches an end to its monetary tightening cycle.

In this context, Eurozone export growth should decline to 4,5% in 2007 from 6,5% in 2006, thereby slowing GDP growth, the report stated.

Wow what a decline maybe we need to stop investing in European companies. or should we listen tyo all those Western advisors that know how to make thailand a better place but cant do it back where they came from.

and how baout the good old USA.....

GDP growth is forecast to decelerate in 2007 as the housing and manufacturing sectors continue to struggle. This will eventually curb private consumption growth. Businesses are better placed, but they are also likely to restrain their spending in the medium term. Real GDP growth is forecast to average 2.7% per year in 2007-11. wow what a drop from 3.4 lat year.

now i understand why all the forigners are so uptight about thailand. it just better then the western countries and they dont want to go back home....here they can live great and enjoy life on a sum of money that back in the west they can barely survive.

while europe and the usa are very rich they are decaying. there is a negetive birth rate an older population and an ever increasing inflow of immigrants from poor countries that are changing the culture and the economy and not for the better. go anf fix up your own countries before lecturing us about education ignorence and so forth..

[Laulen]

A most interesting objective view of Thai economy Mr. Blam.

I hope you continue to enjoy the fruits of this wonderful country. You have obviously negotiated your way very successfully through the maze of mysterious business practices and come out on top!

[somtaamgaiyang]

I don't really understand all the doom and gloom on this forum nowadays, seems theres a lot of people whi just want Thailand to fail at everything, why bother posting here if you hate Thailand so much.

a phenomenon which jumped into my eyes the first day i joined this forum. the minority of these kind of postings might be justified due to some bad experience or unjust treatment. but the lion share of whining and derogatory attempts to place Thailand in the sewer is nothing else but disgusting.

we all must have had our fair share of shaking our heads and grinding our teeth, but there is always the alternative "if you don't like... LEAVE!"

Ah yes well, spoken as a true neophyte.

I have been here in Thailand for 22 years this May 4th. During that time I have pumped approximately 130 million Baht into the economy here by way of company generation and direct funding. As most super long term residents from outside the country, I have watched Thailand slide into its own self manufactured putridity. It really is a shame. Deforested, colluded, polluted, and the total denigration of the foreigners, all done by Thai politicizations and localized manipulations.

Thaksin Shinawatra took down PM Chuan Leekpai for so called 'corrupt activities', in the Sor Por Kor 4-01 land reform corruption scandal, and it was a lie. Thailand continues to live the lie. The government policy makers insist on the manufacture of behaviors that leave the impression of Thailand as Japan. It is not Japan Dr. Naam.

I will say it again, as I have many times on this board (now tantamount to a dare): Ask any Thai to find Thailand on the world map, invariably they will point to North America. Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

"Ignorance is no excuse". Every court judge in the entire world says those exact key words just before sentencing the guy who's defense is "But I didn't think I was doing anything wrong!" Well, again, ignorance is no excuse Dr. Naam.

Thailand is losing market share in every sector faster than a puffy faced 40 yr old Bangkok so-pahnee. This is not doom sayer crap Dr. Naam, just ask Motorola, Toshiba, Sanyo, Sharp, Western Digital, Intel, Toyota, Ford, and Nippondenso. The big list continues this year as Microsoft rethinks its strategies for its erroneously devised but freshly built facility. Doom sayer indeed.

And, once again, it really IS a shame.

And, to whatever you might be thinking: I have a beautiful home in Phuket on 20 rai with a 180 degree view of the Andaman Sea~ an incredibly beautiful and ceaselessly amazing Thai wife~ 3 very successful grown children~ and 2 large vegetable gardens that occupy most of my time. These words don't come from a guy with sour grapes, just a real assessment of 'the now' and the immediate future. Be afraid Dr. Naam, something is going to happen. We old guys just see it coming before the newbies do.

Old and in the way in Phuket.

What worries me the most after a decade here, is that there is no long term aim for the country. We grow, so what, we don't grow, the same old faces are around the political scene in BKK year after year, the poor stay poor and the rich get rich.

I love Thailand a lot, and have worked in agricultural exports in my time. The people in the boonies get nothing of this growth, the schools are decrepit and they are told to serve the country by growing more food for Chinese agents to hawk around the world. Until this country really understands what it needs to do the benefit all its people I fear for the future.

[Flysiam]

[Old and in the way in Phuket.

Blam..... don't think it could be better said. More should be able to stand on your hill - they might see something!

Ahh but for some - ignorance is bliss....

[LaoPo]

Ah yes well, spoken as a true neophyte.

I have been here in Thailand for 22 years this May 4th. During that time I have pumped approximately 130 million Baht into the economy here by way of company generation and direct funding. As most super long term residents from outside the country, I have watched Thailand slide into its own self manufactured putridity. It really is a shame. Deforested, colluded, polluted, and the total denigration of the foreigners, all done by Thai politicizations and localized manipulations.

Thaksin Shinawatra took down PM Chuan Leekpai for so called 'corrupt activities', in the Sor Por Kor 4-01 land reform corruption scandal, and it was a lie. Thailand continues to live the lie. The government policy makers insist on the manufacture of behaviors that leave the impression of Thailand as Japan. It is not Japan Dr. Naam.

I will say it again, as I have many times on this board (now tantamount to a dare): Ask any Thai to find Thailand on the world map, invariably they will point to North America. Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

"Ignorance is no excuse". Every court judge in the entire world says those exact key words just before sentencing the guy who's defense is "But I didn't think I was doing anything wrong!" Well, again, ignorance is no excuse Dr. Naam.

Thailand is losing market share in every sector faster than a puffy faced 40 yr old Bangkok so-pahnee. This is not doom sayer crap Dr. Naam, just ask Motorola, Toshiba, Sanyo, Sharp, Western Digital, Intel, Toyota, Ford, and Nippondenso. The big list continues this year as Microsoft rethinks its strategies for its erroneously devised but freshly built facility. Doom sayer indeed.

And, once again, it really IS a shame.

And, to whatever you might be thinking: I have a beautiful home in Phuket on 20 rai with a 180 degree view of the Andaman Sea~ an incredibly beautiful and ceaselessly amazing Thai wife~ 3 very successful grown children~ and 2 large vegetable gardens that occupy most of my time. These words don't come from a guy with sour grapes, just a real assessment of 'the now' and the immediate future. Be afraid Dr. Naam, something is going to happen. We old guys just see it coming before the newbies do.

Old and in the way in Phuket.

Some posters call people like myself, 'doomsayers'. That's a wrong word and misperception.

Critics about the Thai economy (and to a certain point also the political system) like myself, are NOT doomsayers but merely critics with an open eye what's happening in Thailand and the World, as well as the Asian region in general.

99% of the members here on TV are Thailand lovers and it hurts when critics like 'Blam' are told: "if you don't like it..just leave".

The posters who say so, don't understand that we have a good heart for Thailand, feel for the country and it's people but feel sad when we see so many things go wrong in the past period in this lovely country.

That's not called 'doomsaying' but just realizing and noticing facts. Nothing more nothing less.

I've been coming and going, doing business, as well as holidays to Thailand, China and other Far East countries for more than 30 years so I know a little bit what I'm talking about.

If I see, notice and know about the enormous difference in working and moral attitude between Thailand and China, for instance, I can only conclude that Thailand is slipping away, down the hill, and losing track with it's regional competitor countries.

Knowing that most of the important businesses in Thailand are owned and/or controlled by Thai/Chinese I really can't figure out why there is such a big difference in attitude between Thai/Chinese- and mainland Chinese business people.

The only thing I can think of is that mainland Chinese are still very 'hungry' to succeed and trying to fight for every buck and work day-and-night, literally!

The Thai/Chinese are maybe too comfortable with their wealth (built up in many decades and generations) already and just sailed along with rising demand from the West in the past 2 or 3 decades and forgot to watch what was happening in the neighbouring region and rest of the world.

Contrary to the above is the fact that I know that quite a few Thai/Chinese businesses already set foot in mainland China with their companies and/or factories. Those are the ones that realized something was happening around them and had to adjust to the changing circumstances.

But also Western companies saw and realized that, maybe earlier than Thai businessmen. Don't forget that Western business people have access to large and clever Global Accountant/Lawyer companies AND advising Banks who have their offices all around Asia, not just Thailand...

When I set foot for the first time in Hong Kong I was surprised, shocked and amazed by the working attitude of the business people. No matter if it was 6.00AM in the morning or 12.00 at night, everywhere in the lobbies of the hotels you saw and still see hundreds of business people, already or still working with their Western counterparts...

In the same period I worked with, and was buying from medium & large BKK companies...the difference in attitude was enormous and I realized very soon I couldn't go on with them anymore and left doing business with Thailand, but not for holidays

The same attitude like HK I found also in mainland China, in cities like Guangzhou, Shanghai, Hangzhou, Shenzhen, Beijing and the like; I can make appointments in evenings, on Saturdays, Sundays, phone them late at night; no problem....EVERYTHING is possible.

They have still a lot to learn, but they learn fast, willing to climb up the ladder.

Maybe Thailand thought they were already high up the ladder, or hill, whatever you like.

They're not -anymore-.

It's the difference in working and moral attitude; it's probably in the Thai genes; I don't know, maybe you do ?

LaoPo

[somtaamgaiyang]

Ah yes well, spoken as a true neophyte.

I have been here in Thailand for 22 years this May 4th. During that time I have pumped approximately 130 million Baht into the economy here by way of company generation and direct funding. As most super long term residents from outside the country, I have watched Thailand slide into its own self manufactured putridity. It really is a shame. Deforested, colluded, polluted, and the total denigration of the foreigners, all done by Thai politicizations and localized manipulations.

Thaksin Shinawatra took down PM Chuan Leekpai for so called 'corrupt activities', in the Sor Por Kor 4-01 land reform corruption scandal, and it was a lie. Thailand continues to live the lie. The government policy makers insist on the manufacture of behaviors that leave the impression of Thailand as Japan. It is not Japan Dr. Naam.

I will say it again, as I have many times on this board (now tantamount to a dare): Ask any Thai to find Thailand on the world map, invariably they will point to North America. Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

"Ignorance is no excuse". Every court judge in the entire world says those exact key words just before sentencing the guy who's defense is "But I didn't think I was doing anything wrong!" Well, again, ignorance is no excuse Dr. Naam.

Thailand is losing market share in every sector faster than a puffy faced 40 yr old Bangkok so-pahnee. This is not doom sayer crap Dr. Naam, just ask Motorola, Toshiba, Sanyo, Sharp, Western Digital, Intel, Toyota, Ford, and Nippondenso. The big list continues this year as Microsoft rethinks its strategies for its erroneously devised but freshly built facility. Doom sayer indeed.

And, once again, it really IS a shame.

And, to whatever you might be thinking: I have a beautiful home in Phuket on 20 rai with a 180 degree view of the Andaman Sea~ an incredibly beautiful and ceaselessly amazing Thai wife~ 3 very successful grown children~ and 2 large vegetable gardens that occupy most of my time. These words don't come from a guy with sour grapes, just a real assessment of 'the now' and the immediate future. Be afraid Dr. Naam, something is going to happen. We old guys just see it coming before the newbies do.

Old and in the way in Phuket.

Some posters call people like myself, 'doomsayers'. That's a wrong word and misperception.

Critics about the Thai economy (and to a certain point also the political system) like myself, are NOT doomsayers but merely critics with an open eye what's happening in Thailand and the World, as well as the Asian region in general.

99% of the members here on TV are Thailand lovers and it hurts when critics like 'Blam' are told: "if you don't like it..just leave".

The posters who say so, don't understand that we have a good heart for Thailand, feel for the country and it's people but feel sad when we see so many things go wrong in the past period in this lovely country.

That's not called 'doomsaying' but just realizing and noticing facts. Nothing more nothing less.

I've been coming and going, doing business, as well as holidays to Thailand, China and other Far East countries for more than 30 years so I know a little bit what I'm talking about.

If I see, notice and know about the enormous difference in working and moral attitude between Thailand and China, for instance, I can only conclude that Thailand is slipping away, down the hill, and losing track with it's regional competitor countries.

Knowing that most of the important businesses in Thailand are owned and/or controlled by Thai/Chinese I really can't figure out why there is such a big difference in attitude between Thai/Chinese- and mainland Chinese business people.

The only thing I can think of is that mainland Chinese are still very 'hungry' to succeed and trying to fight for every buck and work day-and-night, literally!

The Thai/Chinese are maybe too comfortable with their wealth (built up in many decades and generations) already and just sailed along with rising demand from the West in the past 2 or 3 decades and forgot to watch what was happening in the neighbouring region and rest of the world.

Contrary to the above is the fact that I know that quite a few Thai/Chinese businesses already set foot in mainland China with their companies and/or factories. Those are the ones that realized something was happening around them and had to adjust to the changing circumstances.

But also Western companies saw and realized that, maybe earlier than Thai businessmen. Don't forget that Western business people have access to large and clever Global Accountant/Lawyer companies AND advising Banks who have their offices all around Asia, not just Thailand...

When I set foot for the first time in Hong Kong I was surprised, shocked and amazed by the working attitude of the business people. No matter if it was 6.00AM in the morning or 12.00 at night, everywhere in the lobbies of the hotels you saw and still see hundreds of business people, already or still working with their Western counterparts...

In the same period I worked with, and was buying from medium & large BKK companies...the difference in attitude was enormous and I realized very soon I couldn't go on with them anymore and left doing business with Thailand, but not for holidays

The same attitude like HK I found also in mainland China, in cities like Guangzhou, Shanghai, Hangzhou, Shenzhen, Beijing and the like; I can make appointments in evenings, on Saturdays, Sundays, phone them late at night; no problem....EVERYTHING is possible.

They have still a lot to learn, but they learn fast, willing to climb up the ladder.

Maybe Thailand thought they were already high up the ladder, or hill, whatever you like.

They're not -anymore-.

It's the difference in working and moral attitude; it's probably in the Thai genes; I don't know, maybe you do ?

LaoPo

Thailand will never be able to take on China, first and foremost because they value education. They have a lot of peasants yes, but they also have a very well educated bunch of 20 to 30 year olds who all want to get ahead.

The only way to really get ahead in bangkok is to have a rich dad or have corrupt connections. Thai business is so busy hiding behind import and export licenses and corrupt connections that they are being eroded slowly but surely.

[Khun ?]

Thailand is the escape for the poor of developed countries.

[Flysiam]

Thailand is the escape for the poor of developed countries.

Spoken as someone pissing into the wind.

Where do you think Thailand would be if those 'poor' people left Thailand and never returned?

[Johpa]

In the words of the wise man, 5% should be sufficient for economic growth! Why should Thailand ratchet up to the unsustainable growth levels reached before the crash in 1997. Enough is enough. As long as Thailand's exports continue to far surpass its imports, things should be fine.

Which would be fine if the incoming profits for those exports weren't also re-exported offshore. But methinks things will continue to be fine for all you neo-Sahib IT folks who are enjoying the low cost of living, the low cost of sex, and the ability to jump ship at any moment if new visa regulations bunch up your panties a little too tightly.

[LaoPo]

Thailand is the escape for the poor of developed countries.

Are you in Monaco or Marbella ?

But, never mind, since it's offtopic because this thread is about "Thailand Hits Bottom Of Regional Economies"

LaoPo

[Johpa]

Again, it really is a shame. Pure abject unadulterated ignorance. It is a bad sign that the hidden agenda seems to continually point to the 'Myanmarization' of Thailand. ie. "Just keeping em down here boss" as a way of accepted life here now.

As a fellow dinosaur, I do like the concept of "Myanmarization" as there are parallels: a dependence upon the occult and astrology; a strong indigenous based military alongside an economy controlled by a more recently arrived ethnic minority that acts, ecoonomically like a colonial power; and the never ending denigration of the rual majority.

I would not be surprised to see the capital or the palace relocated in the future.