Thailand Eyes UN Human Rights Council Seat with Optimism

[Enjibenji]

Just found this on the internet - http://www.businesspundit.com/10-countries...nancial-crisis/

It's the 10 countries LEAST affected by the US financial crisis, wrote in October last year..

And the prize for the #7 least affected country goes to........ Thailand?

"AIG's gigantic Thailand subsidiary, AIA Thailand, has more than half of the Thai market cornered. It's also sitting on 286.67 billion baht worth of reserves (about 8.3 billion US dollars), 383 billion baht ($11.1 billion) worth of assets, and capital funds worth roughly 1100% of the legally required minimum. Foreigners affected directly by the US financial crisis may have outstanding loans in Thailand. The country, however, isn't worried, because the amount of these loans is relatively small.

Bad news: Thailand's largest insurance company is an AIG subsidiary.

Good news: It's sitting on a pile of cash."

So, many people on here are saying how screwed thailand will be in the last quarter of this year..?

I know more than the average person about this whole "financial crisis", however i'm definately no expert on it.

So what's the truth? Does this article have any substance? Or is the guy who wrote it a complete fool?

Edited March 7, 2009 by Enjibenji

[khundon]

Just found this on the internet - http://www.businesspundit.com/10-countries...nancial-crisis/

It's the 10 countries LEAST affected by the US financial crisis, wrote in October last year..

And the prize for the #7 least affected country goes to........ Thailand?

"AIG's gigantic Thailand subsidiary, AIA Thailand, has more than half of the Thai market cornered. It's also sitting on 286.67 billion baht worth of reserves (about 8.3 billion US dollars), 383 billion baht ($11.1 billion) worth of assets, and capital funds worth roughly 1100% of the legally required minimum. Foreigners affected directly by the US financial crisis may have outstanding loans in Thailand. The country, however, isn't worried, because the amount of these loans is relatively small.

Bad news: Thailand's largest insurance company is an AIG subsidiary.

Good news: It's sitting on a pile of cash."

So, many people on here are saying how screwed thailand will be in the last quarter of this year..?

I know more than the average person about this whole "financial crisis", however i'm definately no expert on it.

So what's the truth? Does this article have any substance? Or is the guy who wrote it a complete fool?

Enjibenji

Unfortunately it is not just a case of the US economy, this is now a World problem and Thailand will cop it's whack with the rest of the economies of the World.

AIG, the parent company, lost 63Billion $ last year, that will come out of any earnings AIA may make.

Sorry.

Edited March 8, 2009 by khundon

[midas]

But then later you had this in contrast ................

Thai prime minister says downturn could be worse than 1997

Submitted by Sahil Nagpal on Fri, 12/26/2008 - 06:09.

Abhisit said the economic numbers for next year appeared even more alarming than in 1997 during the Asian economic crisis, Thailand's Nation newspaper reported.

http://www.topnews.in/thai-prime-minister-...se-1997-2101239

[Jingthing]

Export have dried up to US and Europe, and China and India are not replacing them.

[misterman21]

Last weeks BKK Post: 2 million more unemployed forcast for coming year. Last week Herald and Tribune: many Thais leaving factory jobs due to no OT and closures and heading back to the farm. Last week Pattaya Paper (forget the name): tourism down 60% across the board - 80% Russians: Last week Nation: 30% of expat home buyers forfieting their deposits.

Strong baht - world wide finacial armagedon unfolding = very bad news for Thailand.

Even Thais living overseas returning to visit from places such as Norway and the UK have told me that clothing, for example, is more expensive and of poorer quality than in said countrys.

As many expats know only to wll the Thais have a strange logic of putting up prices and reducing quality when buisiness is down. I cant recount the number of establishments (restaurants) i have boycoted because of this phenomena recently

Edited March 8, 2009 by misterman21