Just reading that Thailand is looking to become part of the BRICS currency.  Does anyone have any idea abut how much that will affect tourism.

The BRICS coalition does not yet have a real currency. It is a hope for the future. Even if it becomes reality, it will not challenge the dollar for years/decades to come. Doubt it has much impact on tourism for the foreseeable future.

Thailand has suggested a closer relationship between the kingdom and both BRICS and BRICS Plus member states to help advance the post-pandemic economic recovery.

27 minutes ago, Ralf001 said:

Thailand has suggested a closer relationship between the kingdom and both BRICS and BRICS Plus member states to help advance the post-pandemic economic recovery.

The previous government has, but let's see what the new government will do. I think it highly unlikely that the Harvard graduate is going to side with China. 

14 minutes ago, Brickleberry said:

The previous government has, but let's see what the new government will do. I think it highly unlikely that the Harvard graduate is going to side with China. 

Thailand has a disproportionate amount of USD reserves considering its size, almost as large as the US, which it uses to stabilise the Baht.

 

It will be interesting to see how much of that it transitions to BRICS.

10 hours ago, LosLobo said:

Thailand has a disproportionate amount of USD reserves considering its size, almost as large as the US, which it uses to stabilise the Baht...

Considering what size, the size of the USA or the size of Thailand?

 

Anyway, should not the volume of international trade using the USD as payment be the major criterion in deciding the proportion of the USD in the Thai Central Bank reserves?

Will have no effect at all,  it will not be like the Euro was for Europe, it will be more like the old exchange rate mechanism.with individual market volatility for each currency.

If true, not surprising Thailand siding with BRICS...led by DICkS. Russia & China, 'nuff said. 

There may well be some analysis on reserve currency required as the BRICS trade volume has surpassed that of USD in the month of May already. 

https://www.wsj.com/articles/a-bank-china-backed-to-challenge-the-dollar-now-needs-the-dollar-d9dc27ee

A lot of this de-dollarisation talk is "evil empire" propaganda, and best ignored. 

 

What's more likely to happen is that countries dealing with China will deal in RMB, thats up to them, and if the CCP has a hissyfit over some future slight, a common coercion tactic of the CCP, they're screwed.

 

Now USA has its share of problems, but it's still the "global currency" and messy politics aside, in the broad goepolitical sense, everything is going America's way.

 

They are not dependent on globalisation, China dies without it!

 

They are net food exporters, China dies without it.

 

They cannot be blockaded, but they can blockade China, far from China's naval reach, and Chinas ICBM, even with conventional warheads, are as rubbish as Russias kit. They only have 400, US has about 6000.

 

China's aggressive response to almost everything from Covid to Taiwan is a massive own-goal, western partners have seen how zero Covid eviscerated their supply chains, and Chinese "quality" often sucks!

Example: Stanley tools now have "Made in UK/US" sticker on them, their time with China trashed a once respected brand. Besides, costs in China are now higher than Mexico, with a less educated workforce. And only equally desperate authoritarian states see them as an ally. 

 

Indivually the BRICS are in a fix.

 

India may be rising, but it has a long way to even half match China when it was at its best, furthermore, they hate each other! Some partnership!

Russia is just a mafia state. 

Brazil are perpetually corrupt, and a political basket case no matter which side is in power. 

South Africa, a former  economic powerhouse long vilified for racism many US states still perpetuate unofficially, is now beyond all hope, just another indigenous kleptocratic clownshow with rampant street crime and running on kerosene generators!

 

The USD is going nowhere. 

6 minutes ago, chalawaan said:

A lot of this de-dollarisation talk is "evil empire" propaganda, and best ignored. 

 

What's more likely to happen is that countries dealing with China will deal in RMB, thats up to them, and if the CCP has a hissyfit over some future slight, a common coercion tactic of the CCP, they're screwed.

 

Now USA has its share of problems, but it's still the "global currency" and messy politics aside, in the broad goepolitical sense, everything is going America's way.

 

They are not dependent on globalisation, China dies without it!

 

They are net food exporters, China dies without it.

 

They cannot be blockaded, but they can blockade China, far from China's naval reach, and Chinas ICBM, even with conventional warheads, are as rubbish as Russias kit. They only have 400, US has about 6000.

 

China's aggressive response to almost everything from Covid to Taiwan is a massive own-goal, western partners have seen how zero Covid eviscerated their supply chains, and Chinese "quality" often sucks!

Example: Stanley tools now have "Made in UK/US" sticker on them, their time with China trashed a once respected brand. Besides, costs in China are now higher than Mexico, with a less educated workforce. And only equally desperate authoritarian states see them as an ally. 

 

Indivually the BRICS are in a fix.

 

India may be rising, but it has a long way to even half match China when it was at its best, furthermore, they hate each other! Some partnership!

Russia is just a mafia state. 

Brazil are perpetually corrupt, and a political basket case no matter which side is in power. 

South Africa, a former  economic powerhouse long vilified for racism many US states still perpetuate unofficially, is now beyond all hope, just another indigenous kleptocratic clownshow with rampant street crime and running on kerosene generators!

 

The USD is going nowhere. 

You are pretty much spot on with my view.  THe USD has not Slid against the THB except for the run up to 38 and then back down to the high 32's. It has pretty much stayed in the 34 Thb to USD range for the past month or so.

 

https://www.xe.com/currencycharts/?from=USD&to=THB&view=1M

Unattributed claim removed

4 hours ago, ExpatOilWorker said:

https://www.wsj.com/articles/a-bank-china-backed-to-challenge-the-dollar-now-needs-the-dollar-d9dc27ee

If anyone is interested in reading the full WSJ story, can use https://archive.ph/ to “unlock” any link/article etc. that is blocked for subscribers only.  

An unsubstantiated unsupported misinformation post has been removed.

On 6/19/2023 at 3:23 PM, Brickleberry said:

The previous government has, but let's see what the new government will do. I think it highly unlikely that the Harvard graduate is going to side with China. 

Well China, India, Russia, Brazil....that is a big part of the world

On 6/19/2023 at 2:53 PM, timendres said:

The BRICS coalition does not yet have a real currency. It is a hope for the future. Even if it becomes reality, it will not challenge the dollar for years/decades to come. Doubt it has much impact on tourism for the foreseeable future.

I am not one who see the Dollar falling tomorrow. But I would not be sure for decades. I think the Euro may suffer first and some Euro trade will change to USD stabilizing the Dollar but the trade volume China/Russia/India/Brazil/Saudi Arabia is big I would not underestimate it in a say 5-10 years.

But depending on what they do...if they come with an easy to use gold based (else no one would believe it) currency it might has a big impact.

BRICS Bank That Was Built To Challenge U.S. Dollar Now Needs USD

https://watcher.guru/news/brics-bank-built-to-challenge-us-dollar-needs-usd