Thailand Risks First Double-Dip Recession Since 1998 Crisis

[Smithson]

6 minutes ago, Excel said:

What are you talking about ? "Backpackers who established tourism here ?"

http://peopleshistoryarchive.org/exhibit/tourism-thailand#:~:text=Tourism in Thailand has a,Vietnam from 1955 to 1975.

As I said backpackers along with sex tourists, although I guess GIs aren't tourists "presence of the US military certainly helped promote travel to the country and created a lasting legacy in the sex industry"

[Excel]

1 minute ago, Smithson said:

As I said backpackers along with sex tourists, although I guess GIs aren't tourists "presence of the US military certainly helped promote travel to the country and created a lasting legacy in the sex industry"

Err, You do know the sex industry exited in Thailand way before the Americans arrived do you ? or are you just pretending it wasn't because it does not fit your argument about the great unwashed backpackers being welcome here ?

[Smithson]

1 minute ago, Excel said:

Err, You do know the sex industry exited in Thailand way before the Americans arrived do you ? or are you just pretending it wasn't because it does not fit your argument about the great unwashed backpackers being welcome here ?

I don't have an argument, I'm just commenting. I was talking about sex tourism in particular.

[AnotherFarang8]

Sex tourists have been courageously fighting the plague of sick buffaloes for decades, true unsung heroes of this land. Be careful what you wish for. Animal rights activists disapprove.

[metisdead]

Some posts with disguised references to the King have been removed. 

[khaowong1]

On 7/29/2021 at 7:13 AM, chalawaan said:

C'mon! a double dip recession is for wimps!

Let's push the boat out, nothing less than a Triple Dip Depression, with a side of out of control disease! Yeah baby! Burn like you mean it!

Hell yes, Thailand can become the "Triple Dip Depression" hub of Asia.  Burn baby burn. 

[khaowong1]

It's events like this covid-19 pandemic that shows how much Thailand depends on tourism.  But what does it take to wake them up? 

[Pracha Duang]

On 7/29/2021 at 7:55 PM, HiSoLowSoNoSo said:

At the end this will affect the elite, people got less cash now to spend in the elite owned seven-elevens, Big C's, Centrals etc.

No, it won’t affect the elites at all. They will continue to prosper. The elites all own US stock, crypto and foreign property. With no signs that the money printing will slow, inflation will continue to get hidden in equities and real estate. BTC will be well over $500,000 by 2025 and the Nasdaq north of 20k. Anyone that doesn’t hold US tech equities + cryptocurrency is in deep trouble moving forward. The elites know this and have been loading up. Fiat will be worthless soon so the poor will get double cucked unfortunately.

[HiSoLowSoNoSo]

5 minutes ago, Pracha Duang said:

No, it won’t affect the elites at all. They will continue to prosper. The elites all own US stock, crypto and foreign property. With no signs that the money printing will slow, inflation will continue to get hidden in equities and real estate. BTC will be well over $500,000 by 2025 and the Nasdaq north of 20k. Anyone that doesn’t hold US tech equities + cryptocurrency is in deep trouble moving forward. The elites know this and have been loading up. Fiat will be worthless soon so the poor will get double cucked unfortunately.

So if CP group's sales in their retail outlets goes down by 30% you are saying they are not affected?

[AnotherFarang8]

5 hours ago, khaowong1 said:

It's events like this covid-19 pandemic that shows how much Thailand depends on tourism.  But what does it take to wake them up? 

What do you suggest?

It is not an accident that Thailand is loved by many travelers, its hospitality industry has been successful. It can’t really compete in much else for a number of reasons. Ok, there are rice and rubber exports. Production of most tech stuff today is in China or Vietnam. Thailand can’t compete with those guys, no way. Thailand should keep doing what it’s good at. Tourism.

[khaowong1]

4 hours ago, AnotherFarang8 said:

What do you suggest?

It is not an accident that Thailand is loved by many travelers, its hospitality industry has been successful. It can’t really compete in much else for a number of reasons. Ok, there are rice and rubber exports. Production of most tech stuff today is in China or Vietnam. Thailand can’t compete with those guys, no way. Thailand should keep doing what it’s good at. Tourism.

Yes, I agree.  Thailand should make tourism a priority.  I'm not sure why they can't compete with China or Vietnam in the tech industry.  Maybe infrastructure, maybe capable employee's, taxes,  but all they seem really good at is tourism, where all the have to do is smile and wai.  I'm not sure where I'm going with this, but they can now see tourism is a major money maker of them.  They should clean up their act and get it together.  Clean beaches, clean parks, decent service etc and etc. 

[khaowong1]

15 minutes ago, Sticky Rice Balls said:

Curious as to when the baht was the lowest against the usd........I think for me best was 35B=1usd

I seen it at 42 once, can't remember the year.  

[ThailandRyan]

4 minutes ago, khaowong1 said:

Yes, I agree.  Thailand should make tourism a priority.  I'm not sure why they can't compete with China or Vietnam in the tech industry.  Maybe infrastructure, maybe capable employee's, taxes,  but all they seem really good at is tourism, where all the have to do is smile and wai.  I'm not sure where I'm going with this, but they can now see tourism is a major money maker of them.  They should clean up their act and get it together.  Clean beaches, clean parks, decent service etc and etc. 

You are correct, prior to the floods of 2010, there were many computer related companies here in Thailand like AMD and a few others, but when the floods came it not only shut their plants, but caused extensive damage for which they could not recover from.  Add in the switchover to many people running tablets and smaller types of equipment, they were unable to stay in the game with a lack of concessions and assistance from the Government. Same with Western Digital the floods pushed them out.

 

https://www.theverge.com/2012/11/15/3646698/what-happened-to-amd

 

https://www.crn.com/news/storage/231900987/massive-thailand-floods-likely-to-cause-widespread-hard-drive-shortage.htm

 

Add in others who have left the country since then and headed to Vietnam such as Panasonic, and you wonder if there would ever be a time where this current Government would allow concessions without charging exhobitant fees to the companies.

 

https://asia.nikkei.com/Business/Companies/Panasonic-to-move-appliance-production-from-Thailand-to-Vietnam

 

This country has lost thousands of jobs from these companies leaving and you never hear about any of this in the main news anymore.

[DonniePeverley]

14 minutes ago, khaowong1 said:

Yes, I agree.  Thailand should make tourism a priority.  I'm not sure why they can't compete with China or Vietnam in the tech industry.  

Education. Lack of it. 

[SomchaiCNX]

23 hours ago, SomchaiCNX said:

It is the system, honest people don't make it to the election list. The problem started after the last election. Now the general has to share to stay in power.

Thailand is not the only country also in the West there are countries where the system is made so that minorities kan keep the majority of people out of parliament. I know one where the vote of one part of the country has the value of 0.75% compared to the other (French speaking) part and still in Europe they think it is democracy. The ambassador of that country in THailand does not even speak the other languages of that country fluent.

[Burma Bill]

6 hours ago, Sticky Rice Balls said:

Curious as to when the baht was the lowest against the usd........I think for me best was 35B=1usd

The best I got was 89 baht for one GB pound - it never hit 90!!

[spidermike007]

On 7/29/2021 at 6:41 PM, Nojohndoe said:

Why would anyone find satisfaction from the possible demise of the economic status of a country and the impact on the vast majority who are already mainly  far from comfortable wealth?

I do not believe many on this forum find any satisfaction in seeing the good people of Thailand suffer. I for one, hate witnessing the current debacle. If there is any satisfaction found, it is from watching a despotic administration (which disguises itself as the essence of nobility), which imposes mass casualties, wanton destruction, economic sabotage, and no end of restrictions on speech, expression, movement, work, and well being, on the nation, fail utterly. 

 

To what end all of this is being perpetrated, is anyone's guess. And I suppose in their own eyes, they might consider this a success, depending on what their objectives are, and by now, it is very apparent they are anything but noble and righteous.

[zhounan]

and as in 1997, once again the Sino-Thai will buy another large slice of the country's economy and manufacturing sector.

[Nojohndoe]

2 hours ago, spidermike007 said:

I do not believe many on this forum find any satisfaction in seeing the good people of Thailand suffer. I for one, hate witnessing the current debacle. If there is any satisfaction found, it is from watching a despotic administration (which disguises itself as the essence of nobility), which imposes mass casualties, wanton destruction, economic sabotage, and no end of restrictions on speech, expression, movement, work, and well being, on the nation, fail utterly. 

 

To what end all of this is being perpetrated, is anyone's guess. And I suppose in their own eyes, they might consider this a success, depending on what their objectives are, and by now, it is very apparent they are anything but noble and righteous.

I fully agree with your sentiment as to the current debacle. I also realize that an initial response by some is perhaps missing unstated but more contemplative thought. Unfortunately such response triggers my objection because it equates with the callous and casual "nuke em all" expression that still surfaces as some ridiculous solution by armchair experts to various issues .

Best intent or deceptive intent or variants of  the failure of many Governments to genuinely act adequately in response to the pandemic  has place populations at combined risks of long term social economic devastation but at relatively minimal impact to the minority that due to wealth/and/ or social position have empowered themselves. In a relative sense that applies to a vast percentage of the  world.

To express a simplistic  desire for the collapse of an Administration for the simplistic desire for it when that same Administration has effectively knobbled any cohesive alternative thus resulting in an exacerbation of negative social impact disappoints me for the lack of stated cognition or  comprehension.

 

 

 

[spidermike007]

20 minutes ago, Nojohndoe said:

I fully agree with your sentiment as to the current debacle. I also realize that an initial response by some is perhaps missing unstated but more contemplative thought. Unfortunately such response triggers my objection because it equates with the callous and casual "nuke em all" expression that still surfaces as some ridiculous solution by armchair experts to various issues .

Best intent or deceptive intent or variants of  the failure of many Governments to genuinely act adequately in response to the pandemic  has place populations at combined risks of long term social economic devastation but at relatively minimal impact to the minority that due to wealth/and/ or social position have empowered themselves. In a relative sense that applies to a vast percentage of the  world.

To express a simplistic  desire for the collapse of an Administration for the simplistic desire for it when that same Administration has effectively knobbled any cohesive alternative thus resulting in an exacerbation of negative social impact disappoints me for the lack of stated cognition or  comprehension.

 

 

 

Ask 20 Thai people who speak English, within the next week. 

 

They will clearly break it down for you. 

Edited July 31, 2021 by spidermike007

[khaowong1]

13 hours ago, ThailandRyan said:

You are correct, prior to the floods of 2010, there were many computer related companies here in Thailand like AMD and a few others, but when the floods came it not only shut their plants, but caused extensive damage for which they could not recover from.  Add in the switchover to many people running tablets and smaller types of equipment, they were unable to stay in the game with a lack of concessions and assistance from the Government. Same with Western Digital the floods pushed them out.

 

https://www.theverge.com/2012/11/15/3646698/what-happened-to-amd

 

https://www.crn.com/news/storage/231900987/massive-thailand-floods-likely-to-cause-widespread-hard-drive-shortage.htm

 

Add in others who have left the country since then and headed to Vietnam such as Panasonic, and you wonder if there would ever be a time where this current Government would allow concessions without charging exhobitant fees to the companies.

 

https://asia.nikkei.com/Business/Companies/Panasonic-to-move-appliance-production-from-Thailand-to-Vietnam

 

This country has lost thousands of jobs from these companies leaving and you never hear about any of this in the main news anymore.

You are correct.  I forgot about the floods.  The Govt. really needs to get it's head out of it's butt and start allowing concessions, without exhorbitant fees, but you know that's not going to happen. I'm going to hate myself for saying this, but they need someone of Thaksin's ilk back in as head of the Govt. 

[fgmr]

Mixed messages and veracity of news in doubt once again. 

Just after being informed of another y on y increase in industrial output we are now informed that there is now a "Double dip fear" in ailing economy.

Who in Thailand is going to be the "Investigative Journalist of the Year" and provide objective clarity about the economy?

fgmr

[crazykopite]

Today is the beginning of the 8th month with only 4 months left I think it will be 2022 when the economy really suffers unless a miracle happens in the next 2 months  I think we can forget about the peak season .The government now need to put an end to purchasing unnecessary projects and relocate that money into upping the vaccine game in order to get the country up and running it’s clear the sandbox is a disaster scrap it and place the country into lockdown and give the people financial aid through lockdown this to me is the only way to resolve the increase in Covid but vaccines have to be the priority not submarines or space programs 

[Smithson]

On 7/30/2021 at 1:23 PM, Thingamabob said:

Thailand is in much better financial shape today than it was in 1998, notwithstanding the poor performance of the current government.

True, but in 98 they began Amazing Thailand, which isn't an option these days. We'll have to see how things pan out.