Can Thailand really afford to stop exporting to Russia?

[metisdead]

A post with a trolling image and the reply has been removed.

[the green light]

It has nothing to do with morals values but just business.  There are always a past tense and wishful thinking when it comes to Thailand quick rich scheme.

 

Thai exports depends on the value of the baht ( virtually high) and the affordability of payments of goods with a tumbling rubles (converted to US dollars )

 

It means that all goods purchased from Thailand are quite expensive. Either the Russians will pay the extra money or reduce their orders for now. I do not see any expansion in hte near future.

 

 

 

[Paradise Pete]

3 hours ago, blazes said:

The supply of oil globally is tight (hence the high price), but of course Biden has not exactly helped by cutting the Keystone pipeline (from its friendly neighbour Canada) and the moronic Green New Deal has cut off the supplies of the fracking industry.  Thank you, Joe.

Cutting the pipeline did not reduce supplies at all. Do you think there's now a big pool of oil somewhere that couldn't get delivered? It goes by train.

 

[Harveyboy]

10 hours ago, Isaanlife said:

Ruble won't be worth anything the way it is going and Russia won't be able to afford imports.

 

How about all the Russians living in Thailand working online and getting paid in rubles?

 

They are in for a rude awakening.

good the sooner it bites and makes an impact the better  

[Harveyboy]

9 minutes ago, the green light said:

It has nothing to do with morals values but just business.  There are always a past tense and wishful thinking when it comes to Thailand quick rich scheme.

 

Thai exports depends on the value of the baht ( virtually high) and the affordability of payments of goods with a tumbling rubles (converted to US dollars )

 

It means that all goods purchased from Thailand are quite expensive. Either the Russians will pay the extra money or reduce their orders for now. I do not see any expansion in hte near future.

 

 

 

yes and the baht it to high bad for the ruble but not good either euro or sterling ..why 

[Harveyboy]

10 hours ago, Henryford said:

Finance against morals ha ha. Thailand will take $$$ in a heartbeat.

with you on that one mate

[the green light]

The main issue with the Thai economy are Tourism and export. Both are hindered by

1. Baht to US dollar conversion. ( quite high still)

2. Many restrictions on entry to Thailand ( just too much hassle and expensive)

3. Many restriction re-entering back to home country

4. World event to prevent flow of good and people

5. travel competition such as Vietnam, Maldives, UAE, Philippines

6. Thailand does not want the "cheap" tourists"- the backpackers to come back

 

TAT is still living in the past about the number of tourist visiting Thailand. Everyone who came to Thailand earlier were looking for a cheap vacation and a lot of  cheap sex.

 

Now all has changed: inflation-things cost more, added charges on temples and national parks, insurance cost, and an addition  $ 5k for COVID-19 mischief ,  it makes Thailand quite expensive in comparison to other places.

 

 

 

[Liverpool Lou]

10 hours ago, RichardColeman said:

I would imagine the unanswered questions would be 

 

1. How will they pay ? 

2. Will they want Thai products if the rouble hits rock bottom and the Teflon baht rises madly ?

They can pay central bank to central bank.

What makes you think that Russia pays Thailand in anything other than USD?

[Liverpool Lou]

9 hours ago, BE88 said:

Suddenly canceling all Russian tourists and consequently Chinese tourists will soon be the death blow for tourism in Thailand.

Jesus, not that old, never-proven, "last nail in the coffin" nonsense again.

Edited February 28, 2022 by Liverpool Lou

[SteveAZ]

10 hours ago, Isaanlife said:

Ruble won't be worth anything the way it is going and Russia won't be able to afford imports.

 

How about all the Russians living in Thailand working online and getting paid in rubles?

 

They are in for a rude awakening.

There will be runs on Russian banks. Everyone withdrawing cash, The Ruble will tumble.

[Thunglom]

1 hour ago, Mises said:

Russia has amassed foreign exchange reserves of $635bn, the fifth highest in the world and rising. It has a national debt of 18pc of GDP, the sixth lowest in the world, and falling.

 

The commodity boom is adding an extra $10bn a month to Kremlin coffers from oil and gas. It is being squirrelled away in the National Wellbeing Fund.

 

The Kremlin could sever all gas flows to Europe – 41pc of the EU’s supply – for two years or more without running into serious financial buffers.

 

The harsh truth was summed up by Russia’s ambassador to Sweden. “Excuse my language, but we couldn’t give a <deleted> about western sanctions,” he told the Aftonbladet newspaper.

 

But right now China has Russia’s back against the West, and this renders it impossible to enforce meaningful sanctions.

 

 

 

 

 

(Un)fortunately there is an embargo of any US dollars from Russia, the Rouble has halved in value.

As Russi can't sell anything or buy anything it really won't matter how much "money" they have. Their experts are largely fossil fuels and wheat......they will have to find new customers and they will have them over a barrel, price wise.

cutting the gas is all vey well but it also cuts their income.

[SteveAZ]

2 minutes ago, Liverpool Lou said:

They can pay central bank to central bank.

What makes you think that Russia pays Thailand in anything other than USD?

Are you saying Russia can switch to USD?! What world do you live in? Russia’s currency is Rubles. Who do you think buys the goods? A USD flush Russian population? 

[Liverpool Lou]

Just now, SteveAZ said:

Are you saying Russia can switch to USD?! What world do you live in? Russia’s currency is Rubles. Who do you think buys the goods? A USD flush Russian population? 

You think that Russia's central bank does not have access to USD?  Which world do you live in?

[MarkyM3]

2 hours ago, Mises said:

Russia has amassed foreign exchange reserves of $635bn, the fifth highest in the world and rising. It has a national debt of 18pc of GDP, the sixth lowest in the world, and falling.

 

The commodity boom is adding an extra $10bn a month to Kremlin coffers from oil and gas. It is being squirrelled away in the National Wellbeing Fund.

 

The Kremlin could sever all gas flows to Europe – 41pc of the EU’s supply – for two years or more without running into serious financial buffers.

 

The harsh truth was summed up by Russia’s ambassador to Sweden. “Excuse my language, but we couldn’t give a <deleted> about western sanctions,” he told the Aftonbladet newspaper.

 

But right now China has Russia’s back against the West, and this renders it impossible to enforce meaningful sanctions.

 

 

 

 

 

Have you been watching the news today? Much of the money is held in overseas, mainly in Euros. They can't get hold of it due to the SWIFT expulsions - which are very much meaningful sanctions, particularly since Vlad and his cronies also can't get hold of their billions salted away overseas. Meanwhile, the ruble is collapsing and interest rates were doubled to 20% today. You may also have seen pictures of people queueing around the block trying to get money from ATM's. Russian stock market closed today, companies being told to divest themselves of foreign assets to raise hard currency. I therefore think your interpretation of them being in a position of strength is way wide of the mark - just as the justification for the invasion of Ukraine was (nazis, drug takers - yep, sounds plausible). 

 

China abstained from the vote and are sitting on the fence. As did India and the UAE. They did not give Russia tacit backing. 

 

The "special military operation" - which is a full scale invasion, make no mistake - is not going to plan and a cornered Vlad is the biggest danger. Did you see the look his military staff gave him when he said he was raising the status of nuclear forces? He looks to have lost the plot mentally. 

Edited February 28, 2022 by MarkyM3

[Uroller]

11 hours ago, Isaanlife said:

Ruble won't be worth anything the way it is going and Russia won't be able to afford imports.

 

How about all the Russians living in Thailand working online and getting paid in rubles?

 

They are in for a rude awakening.

A “rumble” awakening????

[herfiehandbag]

8 hours ago, mikebike said:

Seems like paying will not be an issue. Although now excluded from SWIFT, China has now included Russia in their CRISP system of global payments, of which Thailand is part of.

I suppose that what matters is the currency with which they pay.

 

The Ruble is not particularly sought after one supposes, and Russian access to US dollars, Sterling or Euros will be limited now.

[KKr]

11 hours ago, BE88 said:

Suddenly canceling all Russian tourists and consequently Chinese tourists will soon be the death blow for tourism in Thailand.

What Russian Tourists do you expect ?

[Ray Ban]

4 hours ago, Tony125 said:

What posters seem to not understand is yes Thailand might be trading with North Korea, China, Myanmar but the world and US did not put restrictions/sanctions on that. Now the EU/US  are odering other countries not to trade with Russia or face sanctions themselves.

You what?  There are no sanctions on trading with North Korea? Keep up with the real

news Boyo..

[Bkk Brian]

31 minutes ago, Ray Ban said:

You what?  There are no sanctions on trading with North Korea? Keep up with the real

news Boyo..

Plenty of UN sanctions on North Korea including a wide list of trade

[The Hammer2021]

Thailand will follow the line to avoid sanctions

[rebo]

5 hours ago, spidermike007 said:

No ability to hire a helicopter for quick transport.

https://www.advanceaviation.co.th/

[Tarteso]

Can Thailand really afford to stop exporting to Russia?
 

 

Niet

[Dumbfounded]

maybe Thailand will export to China who will redirect to Russia, who knows?,and  maybe China will cover Russia's need for USD payments, who knows?

[friendofthai]

Can't see any sense in these efforts. Our president, Vlad, has a lot of friends in China. They will happy to sell everything we need. And what if not? In this case we will happy to help to return Taiwan. Submarines for rent? OK ????

[Isaan sailor]

This debacle and Thailand’s response will go along way in projecting their response if and when China tries to annex Taiwan.  The world does not care for land grabbers.

[PETERTHEEATER]

14 hours ago, webfact said:

The Thai government has a delicate balancing act to consider, financial against morals.

Nonsense! We all know which way they will topple.....

[spidermike007]

4 hours ago, Will B Good said:

Got to admit....that has always been bugbear of mine......55

Well, it does keep away rich tourists, who they claim they are trying to attract. Getting around here quickly is not easy. The undeserving army and air force seem intent on hogging the airspace. 

[spidermike007]

3 hours ago, MarkyM3 said:

Have you been watching the news today? Much of the money is held in overseas, mainly in Euros. They can't get hold of it due to the SWIFT expulsions - which are very much meaningful sanctions, particularly since Vlad and his cronies also can't get hold of their billions salted away overseas. Meanwhile, the ruble is collapsing and interest rates were doubled to 20% today. You may also have seen pictures of people queueing around the block trying to get money from ATM's. Russian stock market closed today, companies being told to divest themselves of foreign assets to raise hard currency. I therefore think your interpretation of them being in a position of strength is way wide of the mark - just as the justification for the invasion of Ukraine was (nazis, drug takers - yep, sounds plausible). 

 

China abstained from the vote and are sitting on the fence. As did India and the UAE. They did not give Russia tacit backing. 

 

The "special military operation" - which is a full scale invasion, make no mistake - is not going to plan and a cornered Vlad is the biggest danger. Did you see the look his military staff gave him when he said he was raising the status of nuclear forces? He looks to have lost the plot mentally. 

It is quite possible he is unhinged. He was already an insane, pathological killer. Now? Please, get him some meds! 

[spidermike007]

1 hour ago, rebo said:

https://www.advanceaviation.co.th/

While it is nice to have some options for the rich tourists, we are talking about one small helicopter with a 500 km. range serving the entire nation. 

 

Surely Thailand can do better than this, if they are not just blowing alot of hot air, with regard to wealthy tourists. 

[desert dueller]

Education definitely 3rd World. Roads, law enforcement, human rights, political system also. Only Paragon is 1st World. A wafer thin veneer.