Will Thailand Suffer The Same Fate As South Korea? Uncontrolled Inflation

[davejones]

Rampant inflation :- 2005 street vendor selling Watermelon 10 Baht per slice...2012 10 Baht

Sawg Taow Jomtien - 2005 Jomtien to Pattaya 10 Baht - 2012 10 Baht

Internet Cafe 2005 1 baht per min - 2012 1 Baht per min...

45 Sq mtr Condo 2005 10,000 Baht / month - 2012 10,000 Baht.

Singha / Chang on draught in - 2005 40 Baht - 2012 45 Baht ...ouch !!! But I am sure somethings are more expensive...but never really noticed.

I'm glad that you are keeping a watch on things..and that's they way everyone should be living. Keep a watch on prices and don't buy it if the price rises and make mention to the vendor/store/mall or wherever you shop, that you won't buy it until it is priced to what it originally was.

Vendors need to make money to live, so if their costs rise they need to put their prices up. Do you expect them to work for free just so that you are ok. Inflation means that everyone has to raise prices eventually, so you'll end up not being able to buy anything if you stick with your attitude. I am happy to pay more money to support people and help them make a good living.

[davejones]

"Does anyone else feel this is coming?"

No and food prices are much cheaper here than the USA unless you buy imported foods.

I would modify that somewhat, and say "unless you buy Western-style foods", regardless whether or not they are imported.

For example, 79 baht for a loaf of sourdough, baked at Big C (formerly Carrefour), is about par for similar at a supermarket in the US (although Big C's version is not as good).

Still, if you buy local staples, fresh market meat and vegetables, it's still WAY cheaper than the US. Digging slightly deeper, however, the trend is toward higher prices, partly due to energy prices which have been held artificially low. That can not last forever.

Comparing Thailand and S. Korea is fraught with danger, because they are not even close to the same economic standard. S. Korean productivity has risen disproportionately and they are a modern, technological economy. Thailand's productivity, by any measure, will not approach S. Korea's in even the distant future, for reasons that are beyond the scope of this thread, I suppose...

I guess it is beyond the scope of this thread. Thailand is a tourist-based economy or a mixed economy and Korean is an export-based economy. Thailand doesn't need to produce as much as Korea and is not inclined to do so. Thailand is not only unique economically, with a true free-market system in operation, but it has not quite been historically colonized by any nation. Thailand's economy exists independently without the dependence of imports or exports, such as Korea. Korea's inflation is indirectly/directly the result of imports and exports. Thailand is much better off then Korea will be, especially in the distant future. I lived in both countries and there is a big margin of difference in the standard of living and comfort. Thailand surpasses Korea in almost every aspect.

According to Wikipedia, "It is a heavily export-dependent economy, with exports accounting for more than two thirds of its gross domestic product (GDP)." What you say is completely wrong. Thailand's economy is very dependent on the rest of the world, and not independent as you state. There is far too much misinformation on this forum.

[yoshiwara]

"Does anyone else feel this is coming?"

No and food prices are much cheaper here than the USA unless you buy imported foods.

I would modify that somewhat, and say "unless you buy Western-style foods", regardless whether or not they are imported.

For example, 79 baht for a loaf of sourdough, baked at Big C (formerly Carrefour), is about par for similar at a supermarket in the US (although Big C's version is not as good).

Still, if you buy local staples, fresh market meat and vegetables, it's still WAY cheaper than the US. Digging slightly deeper, however, the trend is toward higher prices, partly due to energy prices which have been held artificially low. That can not last forever.

Comparing Thailand and S. Korea is fraught with danger, because they are not even close to the same economic standard. S. Korean productivity has risen disproportionately and they are a modern, technological economy. Thailand's productivity, by any measure, will not approach S. Korea's in even the distant future, for reasons that are beyond the scope of this thread, I suppose...

I guess it is beyond the scope of this thread. Thailand is a tourist-based economy or a mixed economy and Korean is an export-based economy. Thailand doesn't need to produce as much as Korea and is not inclined to do so. Thailand is not only unique economically, with a true free-market system in operation, but it has not quite been historically colonized by any nation. Thailand's economy exists independently without the dependence of imports or exports, such as Korea. Korea's inflation is indirectly/directly the result of imports and exports. Thailand is much better off then Korea will be, especially in the distant future. I lived in both countries and there is a big margin of difference in the standard of living and comfort. Thailand surpasses Korea in almost every aspect.

I don't think I have read quite an extreme example of economic delusion as is represented in the above paragraph.

[davejones]

"Does anyone else feel this is coming?"

No and food prices are much cheaper here than the USA unless you buy imported foods.

I would modify that somewhat, and say "unless you buy Western-style foods", regardless whether or not they are imported.

For example, 79 baht for a loaf of sourdough, baked at Big C (formerly Carrefour), is about par for similar at a supermarket in the US (although Big C's version is not as good).

Still, if you buy local staples, fresh market meat and vegetables, it's still WAY cheaper than the US. Digging slightly deeper, however, the trend is toward higher prices, partly due to energy prices which have been held artificially low. That can not last forever.

Comparing Thailand and S. Korea is fraught with danger, because they are not even close to the same economic standard. S. Korean productivity has risen disproportionately and they are a modern, technological economy. Thailand's productivity, by any measure, will not approach S. Korea's in even the distant future, for reasons that are beyond the scope of this thread, I suppose...

I guess it is beyond the scope of this thread. Thailand is a tourist-based economy or a mixed economy and Korean is an export-based economy. Thailand doesn't need to produce as much as Korea and is not inclined to do so. Thailand is not only unique economically, with a true free-market system in operation, but it has not quite been historically colonized by any nation. Thailand's economy exists independently without the dependence of imports or exports, such as Korea. Korea's inflation is indirectly/directly the result of imports and exports. Thailand is much better off then Korea will be, especially in the distant future. I lived in both countries and there is a big margin of difference in the standard of living and comfort. Thailand surpasses Korea in almost every aspect.

I don't think I have read quite an extreme example of economic delusion as is represented in the above paragraph.

I think it must be a troll post, as he/she doesn't sound like they have lived in either country. Maybe they were drunk when they wrote it, LOL. But that's still no excuse.