Thailand to lose market share in China to neighbours in next few years

[GAZZPA]

"Thai products that are expected to become less competitive include rice, fishery products, textiles and apparel, shoes, gems and jewellery, electrical appliances and electronics."

So pretty much everything we eat, wear and use,, brilliant.

This is hardly surpassing news really,, Thailand is going backwards with foreign investment and is stuck in Xenophobic mode as opposed to neighbouring countries whose arms are open wide.

Thailand has made its bed and will have to lie in it, its in serious danger of being on the back foot and will have a terribly hard time playing catch up, indeed it may never catch up with Vietnam and Indonesia in the frame. I could actually see the country slipping into deeper recession (I don't believe its not in recession now as do many other people).

I wonder if they will enforce the tighter restrictions on foreign business ownership after this news,, I suspect they may be stupid enough to do so,, after all Thailand doesn't need anybody.

[MexicanFarang]

Samsung just got approval from Vietnam to sink another $3B USD into their $2B USD North Vietnam factory.

Why?

To cut costs below their Chinese competition.

IOW, wages are lower in Vietnam than China.

It's a "race to the bottom'.

Why should Thailand play that game?

[MexicanFarang]

One time I too would say som nam naa and sit back to watch the GBP THB exchange rate work in my favour. Now with two young sons I cannot afford to send to international schools, let alone foreign universities, I am rather less self centred. I really hope Thailand gets its act together, but not very optimistic.

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[BestBitterPhuket]

This country just can't reform it's economy because it will hurt the buddies in the elite. Policies benefitting the already rich elite have always been more important than policies benefitting the whole country. Thailand will probably only change when it's too late, when the economy crashes for real and the masses rise against the elite. It is unavoidable unless they change course ASAP. They need foreign advisers, because there is nobody capable in Thailand. Why? Because all Thais on that level are involved or affiliated with the elite, and are therefore not capable if unbiased advising.

[dieter1]

The logical result for an under-trained, under-educated and ethnocentric, self-centered and corrupt elite.

[englishoak]

Polarised country.

[Tokay]

You reap what you sow. In the case of Thailand, it has sowed nothing to help itself globally for as long as most of us have been alive.

Why try to improve things when you are already the best in the world and the absolute center of the universe?

[Thai at Heart]

Samsung just got approval from Vietnam to sink another $3B USD into their $2B USD North Vietnam factory.

Why?

To cut costs below their Chinese competition.

IOW, wages are lower in Vietnam than China.

It's a "race to the bottom'.

Why should Thailand play that game?

If Thailand had been a bit busier upping its game in the education stakes, it wouldn't have to.

At the end of the day, Thailand hasn't climbed up to Singapore, or Korea let alone Japan, and the other lion cubs are gnawing on the old king lion tail.

Its time for a change at the head of the herd because thailand has been lazy at improving the quality of its workforce.

That's why Thailand has to play this game. It has no choice.

[zydeco]

A lot of people in Thailand patted themselves on the back for their economic performance over the past four or five decades. But that prosperity came about because of massive inflows of American money into infrastructure projects and a follow up with Japanese investment. Thailand has since chosen to bite the hands that feed it, turning against the US and thumbing its nose at Japan while making goo-goo eyes towards China. Now, they're about to suffer the consequences as America turns to Vietnam and bypasses Thailand.

[Chris Lawrence]

Samsung just got approval from Vietnam to sink another $3B USD into their $2B USD North Vietnam factory.

Why?

To cut costs below their Chinese competition.

IOW, wages are lower in Vietnam than China.

It's a "race to the bottom'.

Why should Thailand play that game?

They were playing that game but got caught with their pants down. Human trafficking.

However they are still the Detroit of south East Asia.

'According to the latest study on Thailand’s product competitiveness against Asean in the China market between 2015 and 2019, Thai products that are expected to become less competitive include rice, fishery products, textiles and apparel, shoes, gems and jewellery, electrical appliances and electronics.'

I wasn't aware that Thailand was known for electrical appliances and electronics? Most of what I have seen is overpriced and not good quality.

Their rice is some of the best in the world. The general wants Thaïs to eat more rice, but not sure if he wants the rest of the world to associate them with the water buffalo?

Well their fishery products have to find new crews for the boats. Going to put parolee's on the boats? Wonder if they will have any mutinies?

They do good knock offs. Medicine is also one that they copy well. India has a booming trade with this with many factories registered to supply the US.

Probably need to pick niche markets and the ones they are successful in now and improve on these.