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Warning from Pattaya hotel industry boss of a Chinese takeover, loss of income to the economy


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11 hours ago, petedk said:

They have ways around that. Many luxury houses near us have been bought up by a Chinese gang,. They came around here the other day taking photos of all the houses and asked us if our house was for sale. They have Thais to manage the houses which are then rented out to Chinese people. 

 

Yes, the company buys the properties. The website of the company mentions that they have a private jet, private helicopters and yachts and luxury cars (Rolls Royce, Porche etc.). Yes, it's all true. I happen to know someone who works for them and that person posts photos of the private jet and other houses on Facebook. 

 

When they start to buy the hotels we will see an invasion of Chinese tourists

Do you mind to share te name of that website ?

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Pattaya will become Sihanoukville -a horrid Chinese hotbed of illegal activity, owned and run by them. Thailand will have to accept that it is at the same lowly level as Cambodia. 

The carpet baggers have arrived. 

I agree, and it has nothing to do with casinos, at this stage.   The Chinese will bring in their own staff, their own hookers, and have their own illegal gambling rooms.  This is on top of t

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if Thailand not does reform the economy and changes it dependencies, Thailand wil become depending on the new order and that is demanding by money the control over Thailand.

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On 9/12/2021 at 3:40 AM, bendejo said:

Around 10 years ago Warren Buffett bought a large piece of North American railroad infrastructure for something like US$50 billion.  I suspect part of his motivation was to prevent the continent from becoming part of the Belt & Road initiative.

I was in South America when Evo Morales became president of Bolivia (first person of indigenous origins to hold such position).  A few days after the election China sent a jet to fetch him and fly him to Beijing to meet The Big Boss. (As an aside, I did not see mention of this in English-language media, but it did come up on CNN en Espanol.) Your comment about China owning other countries indirectly is spot on.  

I'm anticipating what will happen in Africa.  The dirt-poor people who work the mines for pennies a day are going to be more angry at the foreigners than at their own corrupt moghuls, and at some point they could be piling up the Chinese corpses.  Will be interesting to see if China sends in military/police/advisors to solve these problems.

 

 

When I worked offshore in Cameroon our driver talked at length about the Chinese, saying how they were here to help poor Cameroonians, then pointing how they owned this and that, including all the big houses and real estate.

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The Chinese are way to smart for the Thai's...and they have all the gold...that Thai's want.

 

The Chinese play the long game. Thai's play the short game. Thai's may think they are winning by selling condo's and land and hotels to the Chinese, but over time, the Chinese will overwhelm the tourist economies like Pattaya. The high speed rail from China to Pattaya will be the final incursion.

 

The smarter bargirls will already be studying Chinese on Duolingo. 

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Is anyone surprised? Civilizations rot from the inside, and IMO western civilization is pretty rotten. The strong always take over the weak. IMO it's just the next stage of evolution.

If the Chinese can take over without mass warfare, that would at least be something, though not pleasant for the conquered.

Nixon has a lot to answer for, as it's IMO our money they are using.

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On 9/14/2021 at 3:55 AM, thaibeachlovers said:

Is anyone surprised? Civilizations rot from the inside, and IMO western civilization is pretty rotten. The strong always take over the weak. IMO it's just the next stage of evolution.

If the Chinese can take over without mass warfare, that would at least be something, though not pleasant for the conquered.

Nixon has a lot to answer for, as it's IMO our money they are using.

Remember what Gandhi answered when asked what he thought about Western Civilisation. 

His quip: That would be nice....

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8 hours ago, zzaa09 said:

Remember what Gandhi answered when asked what he thought about Western Civilisation. 

His quip: That would be nice....

Nah, missed that, I think I was down the pub playing darts at the time. 

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On 9/19/2021 at 3:44 AM, Leaver said:

 

Western countries should never have allowed China to become the manufacturing hub for the world. This eventually made western countries reliant on China for products.  

 

It's ironic that it was capitalism, seeking out cheaper manufacturing costs and higher profits, that turned western businesses towards a communist country for manufacturing, which later saw China grow to become a super power.  

Indeed. It is IMO western money that made them what they are today.

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On 9/11/2021 at 10:29 AM, Leaver said:

The Chinese will bring in their own staff, their own hookers, and have their own illegal gambling rooms.  This is on top of their own hotels, restaurants, bars, karaoke, and nightclubs.  

I like chinese hookers. 

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On 9/21/2021 at 5:02 PM, CartagenaWarlock said:

I like chinese hookers. 

 

Yes.  Some are very pretty.  I did a deal with one off the WeChat app, not long before covid.  

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On 9/20/2021 at 3:19 AM, thaibeachlovers said:

Indeed. It is IMO western money that made them what they are today.

 

Yes.  For a communist country, they have certainly embraced capitalism.  🙂  

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On 9/19/2021 at 3:19 PM, thaibeachlovers said:

Indeed. It is IMO western money that made them what they are today.

And the  foundation of Western money is colonialism and chattel slavery. The revenge of hundred years of humiliation. 

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8 hours ago, CartagenaWarlock said:

And the  foundation of Western money is colonialism and chattel slavery. The revenge of hundred years of humiliation. 

Environmental destruction in the Thrid World and massive "contributions" to global warming are misdirected if revenge were the motive. How about return to the norm: authoritarian social structure up to the limits of current technology and regional hegemony.

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15 hours ago, Henryford said:

In looking through Baht and Sold i noticed a lot of hotels in Pattaya up for sale now in the 60-200 million baht range. Many getting out of the business.

 

Most likely these premises are mortgaged.  What choice do they have?  

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3 hours ago, thaibeachlovers said:

Indeed- all those billionaires. Mao must be spinning in his mausoleum.

Really, aren't the leaders of Communist countries the most corrupt and wealthy of all. Putin is the wealthiest man in the world.

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On 9/11/2021 at 1:54 AM, sanuk711 said:

And the news yesterday that Bill Gates has brought his partner Prince al-Waleed out for $us10 billion (Four Seasons Group) and  says he will be expanding his buy up of Hotel chains especially in Asia. 

 

 

 

 

   

  

 

A good post but my ADD demands a little exactitude.

 

Bill Gates investment company increased its' share in the Four Seasons group from 47.5% to 71.25% by purchasing half of his partners shares for the sum of 2.21 billion.  His partner is the Saudi's Investment company, Kingdom Holding Company.  The whole Four Seasons group is valued at a touch over 10 billion.

The minority shareholders maintained their stakes.

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On 9/11/2021 at 7:54 AM, sanuk711 said:

Does it really matter what Capitalist enterprise owns some hotels in Thailand. Most of the larger chain hotels here are foreign owned.

One family  from Maryland USA owns a chain of 32 different hotel groups, around the world. A lot of them in Thailand

  JW Marriott.-The Sheraton.-The Hyatt- The Ritz-Carlton.--...etc etc.

 

And the news yesterday that Bill Gates has brought his partner Prince al-Waleed out for $us10 billion (Four Seasons Group) and  says he will be expanding his buy up of Hotel chains especially in Asia. -Of course you buy when the conditions are best, the Chinese are just doing that --or as Baron Rothschild, said- "the time to buy is when there's blood in the streets, even if the blood is your own."

 

 

 

 

   

  

 

Not sure who this 'Maryland family' is, but Hyatt is a listed NYSE company whose primary shareholders are the Pritzker family of Chicago. As far as I know, all properties carrying "Hyatt" in their name are owned by the Hyatt Corporation. That would include titles such as Grand Hyatt, Hyatt Regency, Park Hyatt, etc.

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3 hours ago, Walker88 said:

There is a weakness, however, that even the supposedly 'long term thinking' CP has failed to control, and that is its own debt structure. The surge of wealth in China created both demand and expectations, with almost every Chinese wanting to own property. That created a bubble, funded by massive debt, and it is now beginning to burst. Evergrande is just the beginning, as all prices/bank assets/etc. are a function of sales on the margin, and weak hands sell. The CP has tried to ringfence Evergrande, and may succeed, but it will cost a lot of money currently earmarked for the Belt and Road Initiative. If the property market gets out of hand, a billion people are going to get really angry, and that could threaten the 'legitimacy' of the self-appointed leadership.

and what do totalitarian governments do when their power is threatened?

Things may go pear shaped sooner than we think, and corona may be the lesser of two evils if the "solution" is the option I'm thinking of.

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3 hours ago, Walker88 said:

Evergrande is just the beginning, as all prices/bank assets/etc. are a function of sales on the margin, and weak hands sell. The CP has tried to ringfence Evergrande, and may succeed, but it will cost a lot of money currently earmarked for the Belt and Road Initiative. If the property market gets out of hand, a billion people are going to get really angry, and that could threaten the 'legitimacy' of the self-appointed leadership.

I never even heard of Evergrande till I read the name on the forum.

BBC has an interesting article that explains it quite well.

https://www.bbc.com/news/business-58579833

 

We live in times that may become very "interesting".

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On 9/26/2021 at 12:08 PM, thaibeachlovers said:

I never even heard of Evergrande till I read the name on the forum.

BBC has an interesting article that explains it quite well.

https://www.bbc.com/news/business-58579833

 

We live in times that may become very "interesting".

 

Evergrande could be the next "subprime."  Banks bank with banks.  

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