khunpa Posted August 13, 2015 Share Posted August 13, 2015 I am so happy to live in Thailand. It's the only country in the world never affected by anything and only place where everything is booming although reality shows totally different. So just RELAK, smile, cover your eyes and be happy! (Btw...What are you guys having for dinner?) Link to comment Share on other sites More sharing options...
Thai at Heart 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. Where did all the money to fund the lending that built up the bubble for 2007/8 come from? Link to comment Share on other sites More sharing options...
Muirton Posted August 13, 2015 Share Posted August 13, 2015 Are we allowed to refer to another website? The best analysis of China's action is on the Australian website, theconversation.com by an Alice de Jonge. How it will impact Thailand is not yet visible in its particulars but what China does now connects with the rest of the world. Link to comment Share on other sites More sharing options...
Srikcir 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. If it does, it will be "tanks" for the memories. Link to comment Share on other sites More sharing options...
nakhonandy Posted August 13, 2015 Share Posted August 13, 2015 Of course this impactsw Thailand. Exports to China are already down 8% and will get worse. Someone claims that this will help as Thailand will get more Chinese tourists!! Really? Even if true they spend next to nothing and 95% or more of what they pay goes to China not Thailand. The devaluation of the Yuan impacts pretty well every country including Thailand. Link to comment Share on other sites More sharing options...
Scott Posted August 13, 2015 Share Posted August 13, 2015 Off-topic posts and replies removed. Link to comment Share on other sites More sharing options...
wabothai Posted August 13, 2015 Share Posted August 13, 2015 In that case we all should consider ourselves lucky to live in a country that will not be affected by anything. Link to comment Share on other sites More sharing options...
Srikcir Posted August 13, 2015 Share Posted August 13, 2015 BOT says that China’ decision to weaken its currency, Yuan, won’t affect Thailand.Yet, Finance Minister Sommai Pasee said prices of Thai products and services would be higher. Isn't that affecting Thailand? Maybe the Chinese tourists won't notice, but what about the Thai people? Maybe the answer is that Thai people should no longer take domestic vacations. Link to comment Share on other sites More sharing options...
Jim walker Posted August 13, 2015 Share Posted August 13, 2015 PM expects millions more Chinese tourists arriving in a mater of weeks now as they are all being sacked from their jobs so might as well come to Thailand for a holiday Link to comment Share on other sites More sharing options...
Tony125 Posted August 13, 2015 Share Posted August 13, 2015 Even the USA whose economy was doing very well took a hit when the Yuan was devalued but Thailand thinks it won't be affected. Check out the url below even the wealthy Chinese are bailing out of China. http://news.yahoo.com/chinas-millionaires-leaving-china-080000378.html = Chinese millionares leaving China Link to comment Share on other sites More sharing options...
Dibbler Posted August 13, 2015 Share Posted August 13, 2015 The weakening Chinese currency has pushed the Thai currency to it's lowest level in 6-years and debt levels just increased across the region. Let's see Mr Finance Minister explain that one.... these people think their citizens are all clueless fools! Link to comment Share on other sites More sharing options...
Fat Haggis Posted August 13, 2015 Share Posted August 13, 2015 The Thai economy is getting a right good kicking from all quarters, the BP report on THAI isn't pretty reading. !! Link to comment Share on other sites More sharing options...
Naam Posted August 13, 2015 Share Posted August 13, 2015 since january 2008 CNY appreciated vs. THB ~19.5% and now some resident as well as non-resident eggsburts are wetting their pants and shout "Armageddon!" because there was a small reversal of 3%... gimme a break Link to comment Share on other sites More sharing options...
Benmart 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. China's economy is export-centric, no matter how they attempt to shift to more domestic consumption, it just isn't happening fast enough... China is faltering due to reduced exports, which means that the economies of their western customers, the US and EU, are in decline... So sit back and bask in the Chinese meltdown, because it will be coming soon enough to the west... Hell, it would have already happened in the west if the politicians had the balls to call the banksters on their criminal acts and let them fail, instead of propping them up with taxpayer $$$... It's a giant shit sandwich and eventually we are all going to have to take a bite... My crystal ball is in the shop. Thanks for the look into the unknown future. Link to comment Share on other sites More sharing options...
thailand49 Posted August 13, 2015 Share Posted August 13, 2015 Is this one of those so call white lies Thai officials feel is necessary to clam fear! The story below this one says "nightmare" You want to sleep with the Chinese " you made your bed now sleep in it " Link to comment Share on other sites More sharing options...
Tony125 Posted August 13, 2015 Share Posted August 13, 2015 China is about to absolutely hammer some of the weakest economies in the world http://finance.yahoo.com/news/china-absolutely-hammer-weakest-economies-172044121.html Link to comment Share on other sites More sharing options...
midas Posted August 13, 2015 Share Posted August 13, 2015 since january 2008 CNY appreciated vs. THB ~19.5% and now some resident as well as non-resident eggsburts are wetting their pants and shout "Armageddon!" because there was a small reversal of 3%... gimme a break not Armageddon but ........................................ Link to comment Share on other sites More sharing options...
Tony125 Posted August 13, 2015 Share Posted August 13, 2015 China gets cold feet about floating yuan--MSN news http://www.msn.com/en-us/money/markets/china-gets-cold-feet-about-floating-yuan/ar-BBlH64p Link to comment Share on other sites More sharing options...
Cake Monster Posted August 14, 2015 Share Posted August 14, 2015 With the Thai Foreign Reseve account dwindeling slowly, and now at only 160 B $, many investors will be looking at Thailand in the same way they are looking at Malaysia, which has slightly less than 100 B $. Add this to the now 4.6% devaluation of the Yuan, and there is a possible door opening for a very bad senario ideed for the Thai Economy. The Thais will not be alone in the nightmare to come across the whole of SE Asia over the next year or so, with the Fed also close to increasing rates. Link to comment Share on other sites More sharing options...
Naam Posted August 14, 2015 Share Posted August 14, 2015 With the Thai Foreign Reseve account dwindeling slowly, and now at only 160 B $, many investors will be looking at Thailand in the same way they are looking at Malaysia, which has slightly less than 100 B $. Add this to the now 4.6% devaluation of the Yuan, and there is a possible door opening for a very bad senario ideed for the Thai Economy. The Thais will not be alone in the nightmare to come across the whole of SE Asia over the next year or so, with the Fed also close to increasing rates. end of 2005 Thai foreign reserves were $36 billion, end of the crisis year 2008 the reserves were ~$80 billion. "dwindling... at only"? next interesting claim please Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 14, 2015 Share Posted August 14, 2015 With the Thai Foreign Reseve account dwindeling slowly, and now at only 160 B $, many investors will be looking at Thailand in the same way they are looking at Malaysia, which has slightly less than 100 B $. Add this to the now 4.6% devaluation of the Yuan, and there is a possible door opening for a very bad senario ideed for the Thai Economy. The Thais will not be alone in the nightmare to come across the whole of SE Asia over the next year or so, with the Fed also close to increasing rates. Indeed, at the June 2015 figure, Thailand actually has more forex on hand than France, Italy and ironically, the USA........ Link to comment Share on other sites More sharing options...
Naam Posted August 14, 2015 Share Posted August 14, 2015 With the Thai Foreign Reseve account dwindeling slowly, and now at only 160 B $, many investors will be looking at Thailand in the same way they are looking at Malaysia, which has slightly less than 100 B $. Add this to the now 4.6% devaluation of the Yuan, and there is a possible door opening for a very bad senario ideed for the Thai Economy. The Thais will not be alone in the nightmare to come across the whole of SE Asia over the next year or so, with the Fed also close to increasing rates. Indeed, at the June 2015 figure, Thailand actually has more forex on hand than France, Italy and ironically, the USA........ why spoil with facts an interesting fairy tale? Link to comment Share on other sites More sharing options...
SoilSpoil Posted August 14, 2015 Share Posted August 14, 2015 With the Thai Foreign Reseve account dwindeling slowly, and now at only 160 B $, many investors will be looking at Thailand in the same way they are looking at Malaysia, which has slightly less than 100 B $. Add this to the now 4.6% devaluation of the Yuan, and there is a possible door opening for a very bad senario ideed for the Thai Economy. The Thais will not be alone in the nightmare to come across the whole of SE Asia over the next year or so, with the Fed also close to increasing rates. Indeed, at the June 2015 figure, Thailand actually has more forex on hand than France, Italy and ironically, the USA........ Ironically the US, Italy or France don't really need a lot of Forex. They practically are the 'Forex'. Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 14, 2015 Share Posted August 14, 2015 With the Thai Foreign Reseve account dwindeling slowly, and now at only 160 B $, many investors will be looking at Thailand in the same way they are looking at Malaysia, which has slightly less than 100 B $. Add this to the now 4.6% devaluation of the Yuan, and there is a possible door opening for a very bad senario ideed for the Thai Economy. The Thais will not be alone in the nightmare to come across the whole of SE Asia over the next year or so, with the Fed also close to increasing rates. Indeed, at the June 2015 figure, Thailand actually has more forex on hand than France, Italy and ironically, the USA........ Ironically the US, Italy or France don't really need a lot of Forex. They practically are the 'Forex'. They don't have to pay for stuff. If France AND Italy don't need it, what exactly does Thailand need it for.... Why would 160bn be a good number then. Maybe Italy should just get rid of it all since they don't need it. What a load of nonsense your statement is. Link to comment Share on other sites More sharing options...
mcfish Posted August 14, 2015 Share Posted August 14, 2015 VIDEO :Micheal Pascoe sums it up nicely form the Sydney morning herald http://www.smh.com.au/business/the-most-important-chart-in-global-business-this-week-20150814-giz0kh.html Link to comment Share on other sites More sharing options...
natway09 Posted August 15, 2015 Share Posted August 15, 2015 A very brave & rather silly statement to make after only 36 hours. Chinese exports have just got cheaper, so any of the same product made in Thaland just got more expensive to buy as an export. Of course it will have an affect Link to comment Share on other sites More sharing options...
Naam Posted August 15, 2015 Share Posted August 15, 2015 A very brave & rather silly statement to make after only 36 hours. Chinese exports have just got cheaper, so any of the same product made in Thaland just got more expensive to buy as an export. Of course it will have an affect Chinese exports have not just got cheaper. all Chinese companies quote their prices in USD and clients pay in USD because there's no way to invoice exports denominated in CNY or receive payment in CNY. Chinese products will only get cheaper if the companies lower their Dollar prices. Link to comment Share on other sites More sharing options...
natway09 Posted August 17, 2015 Share Posted August 17, 2015 Sorry to disapoint Naam, but have been doing export & import with China for 10 years & we do NOT use USD on any of our invoicees, P/S or BL nor do we actually pay in USD Link to comment Share on other sites More sharing options...
cumgranosalum Posted August 17, 2015 Share Posted August 17, 2015 China whatever...after the explosion in BKK we can expect the baht to drop against everything now. Link to comment Share on other sites More sharing options...
Christie Paul Posted August 18, 2015 Share Posted August 18, 2015 The Chinese Central Bank is operated and managed by a team of very experienced, market orientated financial traders. Of course mistakes happen, but their sole objective is to maintain the value, liquidity and usefulness of their currency. Their track record is superb and their logic unassailable. Western Central Banks are privately owned and indirectly pursue the political aims of their owners, which from what I can tell is to cause the economy to implode, whilst simultaneously setting the stage for war. Here in Thailand, there is no shortage of extremely bright, educated and forward thinking academics and business people, that could turn this economy around. Sadly, they have no political influence. What we have in charge are dull, highly political, authoritarians who are bewildered by freedom, suspicious of economic activity and for whom the metric of success is singular. To remain in power. Link to comment Share on other sites More sharing options...
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