michaeljordan Posted August 13, 2015 Share Posted August 13, 2015 A China meltdown would affect the world economy. The Baht will collapse to 40 whether China goes down or not. The Thai economy is being wrecked from within. Link to comment Share on other sites More sharing options...
billphillips Posted August 13, 2015 Share Posted August 13, 2015 HeHeHe, the "ministry of silly comments" strikes again. Link to comment Share on other sites More sharing options...
cumgranosalum Posted August 13, 2015 Share Posted August 13, 2015 (edited) So let me get this straight - whilst this devaluation affects virtually every other country in the world.....Thailand alone stands imperious to this change? Thankfully, it would appear that outside the junta's sphere of influence there are those who don't share this point of view... http://www.nationmultimedia.com/opinion/Chinas-currency-devaluation-Thailands-economic-nig-30266475.html do these people in the government think that if they say something is OK often enough, it will be OK???? Edited August 13, 2015 by cumgranosalum Link to comment Share on other sites More sharing options...
xjbond Posted August 13, 2015 Share Posted August 13, 2015 This happened yesterday, and they are certain this won't have any effect? I realize this is only a prediction but it's a bit early to say with any degree of certainty. Link to comment Share on other sites More sharing options...
Psychic Posted August 13, 2015 Share Posted August 13, 2015 The Yuan has been more or less tied to the USD. As that has soared markets like Euroland have been hit hard. The Chinese economy needs to sustain exports as its domestic market is not expanding as hoped and its building and infrastructure projects are unsustainable. Thailand, whether it wants to believe it or not is in a similar position. The baht held up remarkably well in the last few years. I thought there was an informal link to the USD but maybe there is an informal link to the yuan since it seems to be reacting now. Either way, a lower baht is necessary. European tourists have seen the cost of trips appreciate and now that will start hitting the Chinese. Similarly, exports. What I find funny about all this is that when the USD was low American politicians were screaming at China to untie their undervalued currency. Now the USD dollar is high they're angry its going the other way. Link to comment Share on other sites More sharing options...
cumgranosalum Posted August 13, 2015 Share Posted August 13, 2015 The Yuan has been more or less tied to the USD. As that has soared markets like Euroland have been hit hard. The Chinese economy needs to sustain exports as its domestic market is not expanding as hoped and its building and infrastructure projects are unsustainable. Thailand, whether it wants to believe it or not is in a similar position. The baht held up remarkably well in the last few years. I thought there was an informal link to the USD but maybe there is an informal link to the yuan since it seems to be reacting now. Either way, a lower baht is necessary. European tourists have seen the cost of trips appreciate and now that will start hitting the Chinese. Similarly, exports. What I find funny about all this is that when the USD was low American politicians were screaming at China to untie their undervalued currency. Now the USD dollar is high they're angry its going the other way. Yuan was UNDERVALUED against the dollar - the Chinese were meant to improve that....they have done the opposite, but it is unlikely to achieve what they want as companies in China like Apple and BMW still do business in dollars.... Link to comment Share on other sites More sharing options...
samuibeachcomber Posted August 13, 2015 Share Posted August 13, 2015 (edited) This happened yesterday, and they are certain this won't have any effect? These weekly diatribes from the army/govt. is the same as TAT...its for thai domestic consumption,who understand nothing,we on the other hand know better.And it will be good news for us as the thai baht has to weaken to stay competitive. Edited August 13, 2015 by samuibeachcomber Link to comment Share on other sites More sharing options...
samuibeachcomber Posted August 13, 2015 Share Posted August 13, 2015 So let me get this straight - whilst this devaluation affects virtually every other country in the world.....Thailand alone stands imperious to this change? Thankfully, it would appear that outside the junta's sphere of influence there are those who don't share this point of view... http://www.nationmultimedia.com/opinion/Chinas-currency-devaluation-Thailands-economic-nig-30266475.html do these people in the government think that if they say something is OK often enough, it will be OK???? the answer is YES,just like they come out with future tourist numbers after a fall off. Link to comment Share on other sites More sharing options...
samuibeachcomber Posted August 13, 2015 Share Posted August 13, 2015 HeHeHe, the "ministry of silly comments" strikes again. monty pythonesque in nature! Link to comment Share on other sites More sharing options...
Prbkk Posted August 13, 2015 Share Posted August 13, 2015 I am praying that the Chiense economy sinks and collapses. will be fun to see how its arse lickers survive then. Many of those 'arse lickers' predict the US economy will sink and collapse. Got news for you, the US has already gone bankrupt and has been living on QE since 2012, with central bankers monetizing debt and printing $$$ to prop up every drop in the equities markets... The tells are there, if your not an 'arse licking' numpty that believes everything that comes out of western financial media... http://cnsnews.com/news/article/terence-p-jeffrey/150-days-treasury-says-debt-has-been-frozen-18112975000000 Yes, the end is near. But it is the new cold war. Maybe even a bit warm if Trump gets elected. Link to comment Share on other sites More sharing options...
laocowboy2 Posted August 13, 2015 Share Posted August 13, 2015 The headline is delusional - of course the Thai economy will be affected. Link to comment Share on other sites More sharing options...
NeverSure Posted August 13, 2015 Share Posted August 13, 2015 The US is the largest buyer of Thai exports with China #2. LINK The "news source that can't be quoted" has said that Thai exports to China have contracted by about 8% already. As China's economy slows Thailand will certainly feel it, exchange rates notwithstanding. It already is. China is trying to prop up it's stock market, real estate market, collapsing banks and now it's currency has dropped perhaps more than it wanted it to. China doesn't have the borrowers to go to for maintenance of liquidity and it is in a serious liquidity crunch. Thailand has increasingly hitched its wagon to China and there is no doubt that the China slowdown will affect Thailand. Cheers. Link to comment Share on other sites More sharing options...
klauskunkel Posted August 13, 2015 Share Posted August 13, 2015 Thai economy unaffected by weakening Yuan Nothing, absolutely nothing can affect the Thai economy,...why do they need a Finance Ministry? Link to comment Share on other sites More sharing options...
mancub Posted August 13, 2015 Share Posted August 13, 2015 This happened yesterday, and they are certain this won't have any effect? It seems they haven't caught up with the fact that it's another 2% today in addition to yesterday's cut. Clearly what is happening in China will have an impact. In respect of tourism it could turn out to be a plus as more Chinese look for cheaper, closer alternatives to UK, Europe, US. Believe it will be more a case that significant numbers of new Chinese tourists, for whom travel has only recently become a reality on grounds of affordability, may find their Wanderlust restricted. The wealthy will not face quite the same concerns. Link to comment Share on other sites More sharing options...
Christie Paul Posted August 13, 2015 Share Posted August 13, 2015 What this report failed to mention that after making their announcements - spokesman of the Ministry of Finance and the BOT, removed their clothes, placed fried eggs on their heads and sang La Traviata. Link to comment Share on other sites More sharing options...
spermwhale Posted August 13, 2015 Share Posted August 13, 2015 This happened yesterday, and they are certain this won't have any effect? I was thinking the same thing. They must have a crystal ball. But as we know Thai government agencies always make faulty predictions of how fast the economy will grow. They are always wrong and always overly optimistic. They are like the traffic cops at the scene of an accident, "nothing to see here.... move along." Link to comment Share on other sites More sharing options...
dageurreotype Posted August 13, 2015 Share Posted August 13, 2015 No country can artificially support its markets in the long term. Sooner or later the s__t will hit the fan. Let's hope Thailand's new bosom buddy China doesn't tank like Russia. If so, we are all in for a rough ride. 'we'? Tank away! Link to comment Share on other sites More sharing options...
SoilSpoil Posted August 13, 2015 Share Posted August 13, 2015 Chinese markets have been overheated for some time. Very likely they'll come off further and the rest of Asia with it. To those who are praying for Chinese markets to collapse and for countries like Thailand to sustain economic damage as a a result, might want to consider the fact that the China and Asia have surpluses, while the West is hugely indebted. Consequently the main losers of a melt down of Chinese markets, will be Western bond markets, treasuries and equities. And because of underlying debts - it's the West that will utterly melt down and it's Asia that will recover. Both China and Thailand's public debts are also substantial. Please don't confuse foreign currency reserves and debt to GDP. Link to comment Share on other sites More sharing options...
Christie Paul Posted August 13, 2015 Share Posted August 13, 2015 Chinese markets have been overheated for some time. Very likely they'll come off further and the rest of Asia with it. To those who are praying for Chinese markets to collapse and for countries like Thailand to sustain economic damage as a a result, might want to consider the fact that the China and Asia have surpluses, while the West is hugely indebted. Consequently the main losers of a melt down of Chinese markets, will be Western bond markets, treasuries and equities. And because of underlying debts - it's the West that will utterly melt down and it's Asia that will recover. Both China and Thailand's public debts are also substantial. Please don't confuse foreign currency reserves and debt to GDP. Total debts and unfunded liabilities of the West and are catastrophically in the negative. The whole of Asia is generally in surplus, China's surplus is enormous, but some sectors are negative. Please don't confuse public debt/GDP and trade accounts as they account for less than 10% of capital flows. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted August 13, 2015 Share Posted August 13, 2015 One of the BBC's financial news anchors is reporting there are stories coming out of China that some influential people want even more of a devaluation ! Link to comment Share on other sites More sharing options...
bangkapi Posted August 13, 2015 Share Posted August 13, 2015 Bull**** Link to comment Share on other sites More sharing options...
rijb Posted August 13, 2015 Share Posted August 13, 2015 I am praying that the Chiense economy sinks and collapses. will be fun to see how its arse lickers survive then. Many of those 'arse lickers' predict the US economy will sink and collapse. Got news for you, the US has already gone bankrupt and has been living on QE since 2012, with central bankers monetizing debt and printing $$$ to prop up every drop in the equities markets... The tells are there, if your not an 'arse licking' numpty that believes everything that comes out of western financial media... http://cnsnews.com/news/article/terence-p-jeffrey/150-days-treasury-says-debt-has-been-frozen-18112975000000 Hehehe nicely put, but people are blind to this fact. China is not going anywhere but up, and we all know but do not want to admit where the U.S. is headed. They can only blame themselves. Of course we also know who they will try to blame, anyone except themselves. Bring it on. Hehehe Your hehehe's make me hahaha. Link to comment Share on other sites More sharing options...
shaurene Posted August 13, 2015 Share Posted August 13, 2015 My company in New Zealand have been buying all our products from China for 25 yrs. The manufacturers were good in the early times but over the last 8-10 yrs they have been just concentrating making as much money as they can. That is why China has more new millionyrs each year than other countries.Before they would willingly do a deal to get the business but now over the last 8-10 yrs their FOB prices have conditions added, like if the commodities like Copper, Iron, Oil or their currency weekend buy 2.5% they will increase the price but now compared to few yrs back all the commodities have crashed, oil has crashed but they never reduce their prices to compensate this. They always price their products in US$ and with the $ being so strong they get more of their currency in the exchange.This is another reason a lot of overseas buyers have started looking at other countries to purchase products they need. The China millionyrs just want to increase their money earnings, they have an attitude that if they lose a customer there are a lot more waiting to buy. They will learn one day when it gets to late. Link to comment Share on other sites More sharing options...
rijb Posted August 13, 2015 Share Posted August 13, 2015 I am praying that the Chiense economy sinks and collapses. will be fun to see how its arse lickers survive then. Many of those 'arse lickers' predict the US economy will sink and collapse. And it will as China owns a big part of the US national debt. Ohhh the irony. Ohhh the ignorance. Link to comment Share on other sites More sharing options...
Lorraine678356 Posted August 13, 2015 Share Posted August 13, 2015 My company in New Zealand have been buying all our products from China for 25 yrs. The manufacturers were good in the early times but over the last 8-10 yrs they have been just concentrating making as much money as they can. That is why China has more new millionyrs each year than other countries. Before they would willingly do a deal to get the business but now over the last 8-10 yrs their FOB prices have conditions added, like if the commodities like Copper, Iron, Oil or their currency weekend buy 2.5% they will increase the price but now compared to few yrs back all the commodities have crashed, oil has crashed but they never reduce their prices to compensate this. They always price their products in US$ and with the $ being so strong they get more of their currency in the exchange. This is another reason a lot of overseas buyers have started looking at other countries to purchase products they need. The China millionyrs just want to increase their money earnings, they have an attitude that if they lose a customer there are a lot more waiting to buy. They will learn one day when it gets to late. Link to comment Share on other sites More sharing options...
Lorraine678356 Posted August 13, 2015 Share Posted August 13, 2015 My company in New Zealand have been buying all our products from China for 25 yrs. The manufacturers were good in the early times but over the last 8-10 yrs they have been just concentrating making as much money as they can. That is why China has more new millionyrs each year than other countries. Before they would willingly do a deal to get the business but now over the last 8-10 yrs their FOB prices have conditions added, like if the commodities like Copper, Iron, Oil or their currency weekend buy 2.5% they will increase the price but now compared to few yrs back all the commodities have crashed, oil has crashed but they never reduce their prices to compensate this. They always price their products in US$ and with the $ being so strong they get more of their currency in the exchange. This is another reason a lot of overseas buyers have started looking at other countries to purchase products they need. The China millionyrs just want to increase their money earnings, they have an attitude that if they lose a customer there are a lot more waiting to buy. They will learn one day when it gets to late. I have some old friends who are engineers for a large manufacturing company near Guangzhou. I asked them years ago why doesn't China make better quality products it must be better in the future. Their answer was .. We can, but we make what we are told to make by the foreign designers we do not agree to it but we must or others will. One example was with Walmart telling them they must reduce the cost even if they use thinner material and use 5screws less. They laughed and said we did now they have a vibration problem. I do not think this is a chinese problem but a greedy western problem. Link to comment Share on other sites More sharing options...
mcfish Posted August 13, 2015 Share Posted August 13, 2015 The last global meltdown and stock crash hardly caused a ripple in Thailand and that was a world wide killer. In comparison the China issue is barley a scratch on the surface Link to comment Share on other sites More sharing options...
Jonmarleesco Posted August 13, 2015 Share Posted August 13, 2015 'The Ministry of Finance and the Bank of Thailand (BOT) have confirmed that China’ decision to weaken its currency, Yuan, won’t affect the country.' With Thailand seemingly determined to forge ever closer ties with China, including fiscal, I doubt that. Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 13, 2015 Share Posted August 13, 2015 'The Ministry of Finance and the Bank of Thailand (BOT) have confirmed that China’ decision to weaken its currency, Yuan, won’t affect the country.' With Thailand seemingly determined to forge ever closer ties with China, including fiscal, I doubt that. Claiming there is no effect when your biggest trading partner does this makes one sound rather idiotic. Link to comment Share on other sites More sharing options...
Orac Posted August 13, 2015 Share Posted August 13, 2015 The last global meltdown and stock crash hardly caused a ripple in Thailand and that was a world wide killer. In comparison the China issue is barley a scratch on the surface Probably because the 2007-8 crisis was more due to financial jiggery pokery coupled with the US housing crash. Thailand was pretty isolated from that as it doesn't play in that league. The previous crisis was the dot com crash which again Thailand wasn't really a player in, however, before that was the Asian crisis in 1997 which was pretty much started by Thailand when they removed the currency peg which then spread throughout the region and has far more similarities with what is going on now. Link to comment Share on other sites More sharing options...
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