Thai pm verses farangs

[samuisam]

Sorry for the confusion but my original post in this forum was a copy of a post originally posted by daveyo in Thailand Expat Forum web board » General » Farang girls in Thailand » Having babies in los

I have not confirmed this - The thread was continued here -

Thailand Expat Forum web board » General » Other topics » The 11 economic-reform laws ...

Copy of daveyo's post -

DaveYo

Senior Member

Group: Members

Posts: 108

Joined: April 2003

Posted: Aug. 01 2003,20:12

  Breaking News Gang, guess what was in the paper today on Bangkok Post.  Thailand paid off their debt to the IMF, but the real scoop was in a paragraph, outlying their grandiose plans concerning the foreigners that are in Thailand.  They are going to do away with foreigners owning Condos and also apartments, and they are going to forbid any of us owning anything here in Thailand.  The businesses are now being threatened.  All of us foreigners here in Thailand are now in danger of losing our investments.  They are going to ban us from owning businesses of over 49% and this same business that has property we will not own the property that the business is sitting on.  Bottom line is Thailand is going to strip just about everything to foreigners here and they now have the ability to do so because the IMF agreement is no longer being enforced since the debt is paid off.

The only reason we got such ability to own a condo or an apartment here is because the IMF forced the Thailand government to make such gesture in exchange for that huge loan.

If you not believe me, buy the Bangkok Post dated August 1st, 2003.  Read it.

Please pass this warning to all Expiates in this forum.  If you got a business here, BEWARE  and get ready to sell out or you will lose whatever you have in Thailand once they get finished drafting the new rules and laws within this month or next.  It is expected that the new rules and laws will take effect on January 1st 2004.  Especially those owning any Condos and or Apartments.   All of us will lose this ownership shortly. And also any leases so done by foreigners will also be changed to reflect the new rules thus preventing us from even obtaining any leases of any kind. 

George and Dr. Pat Pong, and Boo, and my dear friends, we EXPIATES  are now in deep trouble.   Thailand is closing the doors on us PERMANENTLY.

Last word  I received is the Non-Immigrant B Visas will be abolished and become not existent within the near future.  It is also understood that the method of having a Thai National support us is also going to be phased out and also not exist.  Bottom line it will not matter if we are married to a Thai National or not, they are going to doom us and kill the golden eggs.

THEY DON'T WANT US LIVING IN THEIR LAND, SO GANG THEY ARE TRULY NOW SINGING TO US THE ADIOS AMINGOS SONG.

I also got word today that they are going to phase out the 1 year visas and the 6 month visas.  They are only going to allow just the 90 day visas and this will be good for only 4 renewals.    After that we cannot get another visa for 1 year.  Currently they are starting the 6 month wait before re-entry, but now they are going to add another 6 months to it to make it a year.  This will also apply to the Retired individuals too.  

Just like I made the prediction 3 months ago of this happening, and now it is actually truly beginning to take shape and become a reality.

So my question to all of you.   What are we going to do now?

[ChiangMaiThai]

Apparently, no one agrees with your information including someone who works at the Post and was aware of the article before it was printed. I guess time will tell.

[Da-Bear]

There is indeed some truth to the Thai government now going to look at the Condo owenership rules again amongst other changes what this will entail or how far these changes will go is anyones guess.Don't forget him who got less votes than his opponent who now occupies the white house GWB himself is coming here in OCT to BKK. As the IMF are largerly beholden to the US tresuary expect the Thais to get the boot in and change what they are going to change before he gets here, so they can gain some face i guess and show the locals they are now fully independent again.Also the US are on a collision course over Myanmar with Thailand accusing it of deserting and suppressing democrats from military-rule Myanmar.

"Bangkok will amend some of the 11 laws issued under the IMF. Changes have been planned for the state enterprise corporatisation law, the bankruptcy law, the civil case procedure law and the land, condominium and property

leasing laws".

http://www.nst.com.my/Current....Article

The only thing which might save the changes from being ott is that Some liberalizations are now enshrined in World Trade Organization commitments - and a Thai heads the WTO.

.

But there will be change in domestic laws affecting ownership and corporate activity, as a newly confident Thailand basks in its recovery, and as Thaksin accommodates the interests of local business. The government is also, in effect, taking revenge on foreign banks by allowing some big Thai businessmen extraordinary leeway to keep control of their companies without repaying their debts. The banks and their foreign media friends cry "shame" but many Thais see it as justice, albeit it rough.

http://www.iht.com/articles/105457.html

[sevinnow]

Simple truth is:  All new lease and land ownership may be affected NOT current lease,land and Business investments.

As one post quoted near the beginning of this thread, Mr Thaskin does on many occasions like to stand on his soap box,qoting what the thai public like to hear for votes and publicity.

Regards

Sev

[haha]

here are my 2 cents..

the notion that thaksin, and many thai people don't like foreigners living in thailand may be true.

there are many "undesirable foreigners" living in thailand.

personally, during a visa run, I listened in on an argument between a thai driver, and a british fellow.  suddenly, the bloke started cursing all the thais in the bus.  quote, "thais are all liars!"  I told the guy he shouldn't talk like that.  but he just replied, "I don't care what anybody thinks!"

with foreigners like this living in thailand, how would you expect thais to think?

I just hope thaksin, and thai people in general understand that not all foreigners are like this.

[kwiz117]

here are my 2 cents..

the notion that thaksin, and many thai people don't like foreigners living in thailand may be true.

there are many "undesirable foreigners" living in thailand.

personally, during a visa run, I listened in on an argument between a thai driver, and a british fellow.  suddenly, the bloke started cursing all the thais in the bus.  quote, "thais are all liars!"  I told the guy he shouldn't talk like that.  but he just replied, "I don't care what anybody thinks!"

with foreigners like this living in thailand, how would you expect thais to think?

I just hope thaksin, and thai people in general understand that not all foreigners are like this.

Totally agree….

It is getting harder to live in Thailand mainly due to some Foreigners who try to manipulate the system, and take unfair advantages over Thai Businesses and Thai People.

In the current environment, all countries are focused on protecting their own country. It is not only Thailand.

Feels like the Globalisation is splitting in to Pieces these days.

"Thailand is heading the WTO" What does this mean? It means that India, China, Thailand are making an issue against another Group of Countries. That group of Countries have its own reasons. So they try to protect there own interests.

Developing Countries have to protect there interests. Otherwise due to the weak currencies they have, it is easy for any foreigner/Company to come and grab all the resources.

Thailand should have restrictions to protect against it.

They should specify the Land Ownership rules, Work Permit Rules and Visa Rules for foreigners.

Otherwise they can open up everything and then work under Foreigners and Rent Property from Foreigners to live. Also they can have a negative Forex reserve and seek more IMF Loans again. They also have to bind to all IMF recommendations in return. Thai People are aware about IMF and the extent of effect that can do to them.

It is true that country to country these rules can vary. For example, having no restrictions in UK for a foreigner to own property will not justify Thailand to do the same.

Do you guys think that UK and US will agree to open up for any Thai People to work without having any Work Permit, if Thailand do the same for UK and US Citizens?

I know how much I struggled to stay in UK during my studies. All I can say is, it is not easy like the way we stay in Thailand.

I have seen so many loopholes in existing Work Permit, Visa, and Company Ownership Policies in Thailand. Majority of Thai People are aware about these loopholes. So they will simply eliminate these loopholes, which will result foreigners much harder to live in Thailand.

In my opinion,

as Foreigners live in Thailand, we should understand this and try to live by giving due respect to Thai Culture and Heritage.

It is not right to say,

Our Countries have helped Thailand to come to this stage, by helping to build BTS, Subways etc coz Thai People are well aware how much they have paid in return for those services.

It is not right to say,

Our Countries have no restrictions for foreigners to own property, so you should do the same coz Thai People are aware how much they have have to pay if they buy a Property in US or UK.

It is not right to say,

Our Countries allow foreigners to work freely coz they are aware how tough to get a VISA to go to US, UK etc.

   

[Butterfly]

As I just wrote in another post, the richest (or second richest) man of a country shouldn't be the political leader of that country. Does he really think that farangs owning condos and spending their money here does not benefit the thai economy in any meaningful way? He's living in billionare fantasy land. I hope his plans come back to haunt him.

This is rich:

"Thailand would not fall a victim to capitalism again, he said."

Does he understand that the IMF was trying to correct things not make them worse ? obviously he didn't get the message.

I am sure the IMF executives will remember this next time Thailand will ask for a loan. Does the Argentina mess sound familiar ?

[kwiz117]

I think many of you guys from Developed Countries do not have any experience living under IMF.

You guys think IMF helped Thailand and many other Developing Countries !!!

Who will give money Free? What are the Conditions?

Basically the Conditions are always towards making Rich Countries richer and poor countries poorer.

In my Opinion, Korea & Thailand were the first two countries that gave the best reply to IMF.

Now I heard Philippines is going to get it self liberalized from IMF this year.

If any one of you think that IMF will not grant any loan next time IF these countries face with a Problem again, then you are wrong.

IMF will put more restrictions and grant more money to make sure they will not re-pay back like this time.

That is how IMF works. I think they have under estimated the power of the people in this Region. I know it has worked well on other Regions.

All credit to Thai People and the leaders for liberalizing Thailand from IMF.

But one thing, it is not right if they try to take revenge by making it harder for Foreigners to live in Thailand. It is not right and we do not have anything to do with it.

???

[Butterfly]

From the mumerings that I am starting to hear, it seems that it may become very difficult for foreigners with family ties in Thailand to maintain those ties within Thailand. If the situation becomes very difficult for foreigners, then I will have to uproot my family from Thailand and move them to my home country. It will have a major impact on foreign exchange and poor families upcountry supported by benefactors from abroad.

That's why they have that "village fund" coming into place. It will replace the farangs sponsoring. At least, Thais will pay for the support, not farangs.

This is great !!!!

[Butterfly]

The laws regarding the ownership of condos were amended somewhat post-IMF, but foreigners were able to own condos prior to the crash in 1997.  The ability of a foreigner to own a condo was not something that was suggested/brought about  by the IMF.

Correct. But they were given 1 year visa after 1997 if they bought a condo. I think this will be gone.

[Butterfly]

I think many of you guys from Developed Countries do not have any experience living under IMF.

You guys think IMF helped Thailand and many other Developing Countries !!!

Who will give money Free? What are the Conditions?

Basically the Conditions are always towards making Rich Countries richer and poor countries poorer.

In my Opinion, Korea & Thailand were the first two countries that gave the best reply to IMF.

Now I heard Philippines is going to get it self liberalized from IMF this year.

If any one of you think that IMF will not grant any loan next time IF these countries face with a Problem again, then you are wrong.

IMF will put more restrictions and grant more money to make sure they will not re-pay back like this time.

That is how IMF works. I think they have under estimated the power of the people in this Region. I know it has worked well on other Regions.

All credit to Thai People and the leaders for liberalizing Thailand from IMF.

But one thing, it is not right if they try to take revenge by making it harder for Foreigners to live in Thailand. It is not right and we do not have anything to do with it.

???

I think there is something you don't understand. I am not a big fan eitheir of the IMF, but the truth is they tried to enforce rules that will stop the situation in 1997 from happening again, modernize the country regulations by forcing existing regulations to be up to International standard, and finally they made sure that their policies would be implemented so that Thailand could pay back their loan.

How do you think Thailand was able to pay back all its loans ? it's because of the IMF provisions. How do you think those foreigner banks were able to buy worthless Thai assets ? thanks to the IMF. How do you think those assets would have survived if the "stupid" farangs would have not come to buy those assets under the IMF provisions ? are you that naive or uneducated ?

The IMF saved your ass. Remember that because this is the last time.

Argentina played the same "tricks" with the IMF and when they needed additional funds, the IMF replied: "we are tired to be your ATM machine, go get your own cash"

End result: Argentina has no longer a currency and unemployment is like 25% (a miracle under such a situation). The country is in total economic chaos where even public officials are no longer paid.

Do you understand how bad is this ?

You think life under IMF was bad ? you have not tried yet life without the IMF under the same circumstances.

Thailand was lucky not to sink to that level. Obviously they don't realize how lucky they were that the IMF accepted their loan. And don't forget one thing: the IMF wouldn't have come in the first place if Thai authorities had any clue on how to run the country.

[en184]

Luckily, as a European investor, the world has many other countries worthy of investment and property.

If thailand wants to make it difficult for farangs to come to thailand, we can go to Indoneia (formed dutch colony), malaysia (british / dutch colony), cambodia, laos, vietnam (former french colonies).

Indonesia is great and so are the girls.  Malay girls are good looking too.  Lao girls are similar to Isaan.

I invest in thailand because I love the country.  Studies show that countries with high foreign investment (UK, Ireland, Luxmbourg, Switzerland, HongKong, Singapore) tend to have higher GDP.  Surely thaksin would like thailand to join the global elite.  Free trade, property ownership and foreign investment as well as a large expat population = A wealthy country.

[dr_Pat_Pong]

Next elections early 2004.  Barring a catastrophe, this PM is a shoe in to win again. The opposition is not sufficiently organized to mount a decent challenge.

[Heng]

Seeing how popular his platform is... it's likely that just about every other party will want to emulate it (not to mention that there are half a dozen other candidates ready to wave the TRT banner at any time).    'Don't hate the player, hate the game.'  

::  

[dr_Pat_Pong]

Self interest is an essential ingredient in the wide world of politics. You can tell when a politician is telling lies; just watch his mouth, if it's moving he is lying.      

[surin]

Self interest is an essential ingredient in the wide world of politics. You can tell when a politician is telling lies; just watch his mouth, if it's moving he is lying.      

Not all Politicians, dr P....No all!

[surin]

Self interest is an essential ingredient in the wide world of politics. You can tell when a politician is telling lies; just watch his mouth, if it's moving he is lying.      

Not all Politicians, dr P....No all!

Sorry My last post should read... Not all!

[dr_Pat_Pong]

Surely you are not Dr Surin Pitsuwan M.P and former Thailand Foreign Minister....are you ?  If not, make a little list for me dear Khun Surin. Select 'em from anywhere in the world. The list won't be too long.      

[kwiz117]

I think there is something you don't understand. I am not a big fan eitheir of the IMF, but the truth is they tried to enforce rules that will stop the situation in 1997 from happening again, modernize the country regulations by forcing existing regulations to be up to International standard, and finally they made sure that their policies would be implemented so that Thailand could pay back their loan.

How do you think Thailand was able to pay back all its loans ? it's because of the IMF provisions. How do you think those foreigner banks were able to buy worthless Thai assets ? thanks to the IMF. How do you think those assets would have survived if the "stupid" farangs would have not come to buy those assets under the IMF provisions ? are you that naive or uneducated ?

The IMF saved your ass. Remember that because this is the last time.

Argentina played the same "tricks" with the IMF and when they needed additional funds, the IMF replied: "we are tired to be your ATM machine, go get your own cash"

End result: Argentina has no longer a currency and unemployment is like 25% (a miracle under such a situation). The country is in total economic chaos where even public officials are no longer paid.

Do you understand how bad is this ?

You think life under IMF was bad ? you have not tried yet life without the IMF under the same circumstances.

Thailand was lucky not to sink to that level. Obviously they don't realize how lucky they were that the IMF accepted their loan. And don't forget one thing: the IMF wouldn't have come in the first place if Thai authorities had any clue on how to run the country.

Butterfly, I agree with your reply assuming your facts are correct.

For me, I am not aware about the details of IMF etc. I think Majority of the people in Thailand and other countries under IMF are like me. All we do is, we go on the basis of how IMF policies effect to normal poor guys like me.  

What else to do? Do you think we all can analyse this in a constructive basis and come to a conclusion. No..our thinking is based on many factors. The extent of effect to the Individual due to IMF Policies, How the country is communicating it to the People etc..

We do not know why they have implimented those policies etc? We think they have given us money and then they take it back indirectly.

We think IMF is backed by Developed Countries.

I am not kidding. This is how many people in Asian countries who are under IMF feels about it.

If you read my previous post, you will realize that what I have said are not the detail facts. It is basically how I feel. I am not sure to what extent that will represent the Other Asian people like myself.

We basically do not care whether IMF will help us again or not. If Thailand economy suffer, the effect will not be an isolated sitaution only for them. What will happen to all Foreign Investment in Thailand? What will happen to the Foreign Industries depending on Thai Exports?

What will happen to the other countries in this region that are closely link with each other?

That is why Thai People do not think about the Next Economic Crisis and whether IMF will help again or not?

They all know that they will not evaporate alone.

[surin]

Surely you are not Dr Surin Pitsuwan M.P and former Thailand Foreign Minister....are you ?  If not, make a little list for me dear Khun Surin. Select 'em from anywhere in the world. The list won't be too long.      

Relax good Doctor.....I'm from Down-under and married to a Lovely Thai girl from Surin (for the past 6 years) Have 2 sons and as soon as the voters don't want me any longer....I'll be over there with you Guys...Legally!!!.

Let's hear from any other expats from Surin or Buriram too!!.

[KenUdon]

We basically do not care whether IMF will help us again or not. If Thailand economy suffer, the effect will not be an isolated sitaution only for them.

As astonishing as it may seem, this seems to be exactly how the Thais think. Can't quite see the logic myself.

What will happen to all Foreign Investment in Thailand

They will learn never to invest in Thailand again!

What will happen to the other countries in this region that are closely link with each other?

That is why Thai People do not think about the Next Economic Crisis and whether IMF will help again or not?

They all know that they will not evaporate alone.

So, it is ok to chuck yourself off the cliff....as long as everybody is doing it??

[dr_Pat_Pong]

A real live Ozzie Parliamentarian. OK Surin, I'll make you the exception...an honest politician, and proposing to be legal in the Kingdom....WELCOME.

[Heng]

Most FDI in Thailand is from Thais living abroad.   The nature of those income streams are continuous as well.   Multinational FDI (which is dominated by Japanese and Taiwanese firms anyway) is only periodic.

It's amusing how some falangs insist on somehow taking credit for this.   The same for FDI in China (overseas Chinese).    

:laugh:

[kwiz117]

Most FDI in Thailand is from Thais living abroad.   The nature of those income streams are continuous as well.   Multinational FDI (which is dominated by Japanese and Taiwanese firms anyway) is only periodic.

It's amusing how some falangs insist on somehow taking credit for this.   The same for FDI in China (overseas Chinese).    

:laugh:

Good Point. I know this is the same for many Countries in Asia. Whether these FDI’s are from China, Thaiwan, US, UK or any other country, all these Companies come and invest initially not to help Thailand. It is for more Profitability and/or for the Strategic Presence in the region.

If anyone say that they have invested in Thailand and that have helped Thailand; yes, that is not a wrong Statement.

But one simple thing we all tend to forget it the Basics of Investment Analysis. Is helping a Country and the People in another Country take into account when we invest money in another Country? [Assuming we are not a NGO]

The Answer is NO. Actually those points we put forward to that Government to get BOI Benefits and other Benefits at the time of the Investment.

This is what majority of Asian’s thinks about Foreign Investments. They know how it happens. It is basically a give and take process for both sides. In my opinion, in the longer run, the Country will gain more than the Investor.

That is the way how the deal works. After that Investor can not look at the contribution they have done to that Country by Investing and try to justify the contributions.

Actually this is how the Asian Continent is getting powerful these days in the world economy. It is due to the Bargaining Powers they have both in the Supplier and the Customer side. It is a must for Foreign Companies [uK and Europian MNC's] to Invest in this region to gain competitive advantages in this environment.  They will have the option of selecting the base among several Countries.

I do not think Thailand is a good choice at this moment considering the Opportunities of Operating Cost of a Business compared to other Countries in the Region. But that is a factor for the Investor to Consider.

It is up to Thailand to decide what type of Investors they need and what size of Investors they should target.

After purchasing some product from a Company, customers can not say that they have contributed to the Company profits so the Company should consider giving them some free benefits or a discount etc.

One good example is,

The Company I work, invested in Vietnam sometimes back. Interestingly my Colleagues think that we have helped so many Vietnamese to find jobs, pay taxes etc. and the Govt should consider our Application to get an extension to the Tax Holidays. Infact I am the one who drafted it.

I know that we did not invest in Vietnam to help the Country or those People. But that is how I interprit it to maximize the Returns for the Investment for the Company. On the other hand, I also think Vietnam Givt is well aware that we can not go back as it will not be feasible for us to do so. So they are playing with the way Thai Govt is acting these days.

"It is easy to Enter, but it is hard to Live"

This is a question of Reality and the Actuality.

Hope this will clarify it.

One last thing : I think we are deviating from the original post.  :cool:

[Butterfly]

hey kwiz117

are you Japanese ? interesting feedback from your perspective.

You know what developped countries say about the IMF ? "they are the bank of the poors and we are paying for it"

You know what borrowing countries say about the the IMF ? "they are sucking us out dry"

See my point ?

The reasons the IMF have to implement such provisions is because it's the only way to "save" those poor countries, otherwise there wouldn't be any funding or the world would just be poorer. Rich countries contribute to that fund to save those "poor" countries. In return, the rich countries asked those poor countries to do the "maximum" to repay their debt (at almost 0% interest, don't forget that) and for that they need to "fight" corruption and have International standard in terms of corporate laws and accounting principles. Of course, these are difficult provisions to swallow above all when you were used to do nothing about it and enjoyed the free ride with the rest of the crowd.

You have to understand that the situation in Thailand before 1997 was not "normal". The system was rotten and was falling into itself. Like a falling star, the light is always brighter the moment it collapses.

You might regret those good old times, and rightly so, but it couldn't last, I hope you understand this. Again, the Thais have been very lucky so far, I don't want to imagine what would have happened to them if they had failed with the IMF loan. Go take a look at Indonesia, it's much worse than Thailand. Malaysia is discredited on the world scene as a major investment hub after what they did in 1997. After all it's not a free country overthere, so it does not really matter. Things have gotten really bad in Malaysia. They are far from Thailand in terms of economic success, so I am not sure why Toxin keeps using Malaysia as an economic model, because it's much worse than Thailand. Hey maybe it's a strategy to cover his ass when things will get very bad here, who knows.

Also, I don't understand your argument: if we fall, we are not alone

Very childish attitude and not realistic. Wouldn't you want to avoid the fall ? or are you like the dumb animals who follow their peers into the ravin because their "life objective" is to only follow the crowd.

Again, very lucky and it's a shame that most Thais don't realize this.

That's why next time, they might not be as lucky and will cry for IMF help. So much for national pride.

[Heng]

For one, the economy of Malaysia has a much broader industrial base than we do.   The LOS is fortunate in that it can gamble with the agricultural base as good insurance against hard times, while attempting to broaden our industrial base.    Even in the 97 "crash," life was still pretty good.   Certainly nothing like the Grapes of Wrath.  

 

[Butterfly]

For one, the economy of Malaysia has a much broader industrial base than we do.   The LOS is fortunate in that it can gamble with the agricultural base as good insurance against hard times, while attempting to broaden our industrial base.    Even in the 97 "crash," life was still pretty good.   Certainly nothing like the Grapes of Wrath.  

 

sure. but again thanks to the IMF. otherwise people would be exchanging goods now instead of cash. not convenient to pay for a Kaho Pat Kai

[Heng]

Doubtful.  IMO, just narcotics forex trickle down could keep the entire economy afloat.  

[kwiz117]

Ok..lets talk about IMF though we are going out of this topic

hey kwiz117

are you Japanese ? interesting feedback from your perspective.

I am a Sri Lankan national Buddhist but studied in a British School managed by the Anglican Church and with qualifications/certifications from UK Professional Bodies coming under the Royal Charter. I have worked over 10 yrs for European and US Companies. This question came several times coz my views in certain issues were different from most of you guys in this forum. For me, I see a very similar thinking pattern behind many Topics and also the replies from you guys. Isn’t this we want in a forum?

I have spelled this out clearly in my signature. Please do not ask this question again to judge an opinion different from yours. Lets talk one by one about the points we disagree.

I think Quote Feature in this forum will help for this.

I said, I am not disagreeing with your View. I said I perfectly Understand what you think and also said that I, myself work like the way you have put down your points in practice.

I have putdown what many Asian's think.

You know what developped countries say about the IMF ? "they are the bank of the poors and we are paying for it"

You know what borrowing countries say about the the IMF ? "they are sucking us out dry"

Totally agree..this is two different views..isn't it? I think I have commented on this in one of my above replies.  

See my point ?

The reasons the IMF have to implement such provisions is because it's the only way to "save" those poor countries, otherwise there wouldn't be any funding or the world would just be poorer. Rich countries contribute to that fund to save those "poor" countries.

Hmmmm..Interesting..

I do not agree.

I HAVE A QUESTION FOR YOU.

WHY THIS IMF IS MAINLY FOCUSING ON DEVELOPING COUNTRIES? DO YOU THINK THEY HAVE HELPED TO RESTRUCTURE THE VERY POOR ECONOMIES IN AFRICA? COUNTRIES LIKE ETIYOPIYA [sorry wrong spelling], SOMALIA.

WHAT IS THE BASIS OF THIS SELECTION?

Isn’t it the Resources availability in the Country? If your answer is yes, then is that means the IMF regulations are more towards controlling the Resources available in the Respective Country?

Because, I can not think of any other factor that will motivate IMF to grant and help the People in countries like Thailand and other Asian Countries.

In return, the rich countries asked those poor countries to do the "maximum" to repay their debt (at almost 0% interest, don't forget that) and for that they need to "fight" corruption and have International standard in terms of corporate laws and accounting principles. Of course, these are difficult provisions to swallow above all when you were used to do nothing about it and enjoyed the free ride with the rest of the crowd.

Totally agree with your Justification for "why IMF need to put Regulations after providing the Funds"

If you give any Grant or Loan, it is your Duty to put all Conditions to make sure they will not misuse the funds and also they will pay it back.

You have to understand that the situation in Thailand before 1997 was not "normal". The system was rotten and was falling into itself. Like a falling star, the light is always brighter the moment it collapses.

You might regret those good old times, and rightly so, but it couldn't last, I hope you understand this. Again, the Thais have been very lucky so far, I don't want to imagine what would have happened to them if they had failed with the IMF loan.

Hmmm..you now agree how successful the Thai Government and People are. If they are not successful in paying back the IMF Loan, you can not even Imagine the situataion. Isn't it?

You also saying in your words "situation in Thailand before 1997 was not "normal". The system was rotten and was falling into itself".

Again, I agree. So isn't this why they are taking measures again not to face with that type of a situation.

Tell me if they are adopting any "rotten and falling into itself policy" now. All I can see is, now they are puttnig up more controls in the areas they failed to take control of.

One area is the Foreign Exchange Reserves and Regulations.

Go take a look at Indonesia, it's much worse than Thailand. Malaysia is discredited on the world scene as a major investment hub after what they did in 1997. After all it's not a free country overthere, so it does not really matter. Things have gotten really bad in Malaysia. They are far from Thailand in terms of economic success, so I am not sure why Toxin keeps using Malaysia as an economic model, because it's much worse than Thailand. Hey maybe it's a strategy to cover his ass when things will get very bad here, who knows.

Interesting. If I remember correct, Malaysia is not a Developing Country. Malaysia and Singapore comes under "Recently Developed Countries" Classification.

Have you studied the Macro economic Statistics in Malaysia. All Figures are above Thailand.

Your comments about Indonesia, yes I agree.

Also, I don't understand your argument: if we fall, we are not alone

Very childish attitude and not realistic. Wouldn't you want to avoid the fall ? or are you like the dumb animals who follow their peers into the ravin because their "life objective" is to only follow the crowd.

Again, very lucky and it's a shame that most Thais don't realize this.

Yes, Again I agree. I think we Asian's are too Childish to take correct actions to Protect the Economies from IMF. All my childish respect to Thai People, Koreans who liberated their respective countries from IMF.

I am sure ASEAN will unite together with China and India to protect the Economies like the way EU is operating. When that day come, I do not think IMF will come even into this Discussion forum.

That's why next time, they might not be as lucky and will cry for IMF help. So much for national pride.

Yes, we Asians are very proud of our Nations. [it is not only Asians, I think all countries are same] I think Thai people should be very proud for not getting into the hands of any European Country like other Asian Countries and to come up to this level.

Also Thai People should be proud and should read this forum to see how these People from Developed countries trying to find ways to live in Thailand. How much they care for Thai Culture? How much they invest to form 2 Million Bht Companies to live in Thailand?

Finally I again repeat, "if Thailand fall, they are not alone".    

[Butterfly]

Doubtful.  IMO, just narcotics forex trickle down could keep the entire economy afloat.  

actually yes, could be a good strategy. But corruption would be everywhere and we could have that MP Emperor as the PM instead of Toxin. Not a bad alternative actually.