AmySeeker Posted November 18, 2020 Share Posted November 18, 2020 16 hours ago, AmySeeker said: If anyone doesn't think there is some form on maipulation going on - be it deliberate currency manipulation, or artifically high investment from China then you are nuts. Thailand is suffering a downturn in the economy, it's main financial opus TOURISM is dead for now, and at least the next 6 months, political protests. YET THE BAHT RISES. Give me a break. I've said it so many times, what we are seeing in Thailand is China taking over. The whole South Eastern asian block takeover by China, eroding cultures, beautiful cities, is one of the saddest gentrification developments in a long time. Dumping money in Thailand, that benefits an elite few only, is dangerous. Very soon Bangkok will be wall to wall condos. And yes gentlemen, even Nana Plaza and Soi Cowboy will be condos. The great beaches of Phuket and Koh Samui will all be gone replaced by gigantic condos. If there's one thing Chinese investment loves - ITS A CONDO. THIS IS WHAT NANA PLAZA WILL LOOK LIKE IN 5 YEARS TIME. 2 Link to comment Share on other sites More sharing options...
metisdead Posted November 19, 2020 Share Posted November 19, 2020 Some off topic posts and replies have been removed. Link to comment Share on other sites More sharing options...
Eddy Ozark Posted November 19, 2020 Share Posted November 19, 2020 The word on the street among some Thais I know is that business owners are waiting for 1997 to return. The longer this unnatural state of affairs is carried on, the greater the impending crash. Massive defaulting on domestic bank loans is what they predict. 1 Link to comment Share on other sites More sharing options...
Rodbayne94 Posted November 19, 2020 Share Posted November 19, 2020 Thailand's economy depends a lot on foreign tourism and the strong baht is bad for the country 2 Link to comment Share on other sites More sharing options...
Popular Post Stygge Posted November 19, 2020 Popular Post Share Posted November 19, 2020 On 11/17/2020 at 4:27 PM, Banana7 said: BOT controls capital flows in and out of Thailand. There are lots of restrictions on outflow of THB from Thailand. All BOT has to do remove the restrictions and the baht will lose value against USD and other major currencies. Also exports exceed imports, without tourist spending in Thailand. Until imports are greater than exports, THB will continue strengthen against most major currencies. This is called a current account balance. But it´s interesting to know why export exceed import in spite of a strong bath. The major reason is the minimum wage imposed since many years and upheld by the junta and the present junta generic. It´s a minimum wage but the economic elite have managed to make it the normal wage for unskilled labor and it affects even other more skilled work. The low minimum wage serves two purposes. First it´s so low it keep the workforce struggling for just staying alive not leaving time or energy for stirring up trouble like demanding decocracy or better living conditions and secondly it can keep the export up in spite of a strong currency. The strong bath is therefore paid by the low wage workforce. It´s a clever move from the thai elite. 3 Link to comment Share on other sites More sharing options...
MyFriend You Posted November 19, 2020 Share Posted November 19, 2020 6 hours ago, Rodbayne94 said: Thailand's economy depends a lot on foreign tourism and the strong baht is bad for the country But the officials can';t see the Forest thru the Trees...........when will they learn that there hundreds of thousands of Chinese don't spend a lot of money in Thailand, it all goes back to China one way or another, or spent in China before hand - keeping the baht strong will prove to be fatal in all sectors, not only tourism, investors will just go elsewhere. Mi Dos Centavos 1 1 Link to comment Share on other sites More sharing options...
herfiehandbag Posted November 19, 2020 Share Posted November 19, 2020 (edited) 3 hours ago, Stygge said: But it´s interesting to know why export exceed import in spite of a strong bath. The major reason is the minimum wage imposed since many years and upheld by the junta and the present junta generic. It´s a minimum wage but the economic elite have managed to make it the normal wage for unskilled labor and it affects even other more skilled work. The low minimum wage serves two purposes. First it´s so low it keep the workforce struggling for just staying alive not leaving time or energy for stirring up trouble like demanding decocracy or better living conditions and secondly it can keep the export up in spite of a strong currency. The strong bath is therefore paid by the low wage workforce. It´s a clever move from the thai elite. An interesting, and for me (financially untutored) a compelling argument. The minimum wage is certainly effectively for many jobs the "standard wage". Edited November 19, 2020 by herfiehandbag Link to comment Share on other sites More sharing options...
Enzian Posted November 20, 2020 Share Posted November 20, 2020 A lot of these things are self correcting to an extent. If the baht is too strong exports will suffer, the economy will suffer, and things will go the other way until a new equilibrium is reached. Same with the current devaluation of the dollar which the US is engaged in sub rosa, for reasons of expediency which are all too obvious; but I'm concerned that with the dollar it may be more of a one way road, the decline of the west and all that. Link to comment Share on other sites More sharing options...
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