How to save the Thai economy: Opinion

[Thai at Heart]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

CP is by far the most global of Thai companies and as much as I loathe them, they do a damn good job.

All the banks need more competition to shake them up.

[wabothai]

I will give you the HOW and WHY but it does not come free.

[lostoday]

From the OP and the real crux of the problem, "The generals’ economic policy is hampered by concern for their core constituents, the Bangkok-based establishment: a patronage network among the bureaucracy, the judiciary, the army, business elites and the palace. That network has created staggering inequality: Just 0.1 percent of Thais hold nearly half of the country’s total wealth, according to a 2012 study by the National Economics and Social Development Board, the state economic planning agency."

End of quote

PS don't get angry with me I didn't write the above it was posted by Webfact/Thaivisa and written by the NYT.

Edited September 11, 2015 by lostoday

[Prbkk]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Yes, well your list would be greeted with howls of laughter in most business circles.

[lostoday]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Yes, well your list would be greeted with howls of laughter in most business circles.

Ya right, http://www.thaicom.net/src/misc/TOP50ASEANCGScorecard.pdf

[chiang mai]

You omit the larger ones, Minor Group and CP Group.

[Thai at Heart]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Most of them notably operating in industries of limits to foreign entry..... Big C? Strewth

[lostoday]

You omit the larger ones, Minor Group and CP Group.

Minor group is owned by an American turned Thai so I didn't count that.

[lostoday]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Most of them notably operating in industries of limits to foreign entry..... Big C? Strewth

So? You think China is fair? Is that how they got to be #2?

[Thai at Heart]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Most of them notably operating in industries of limits to foreign entry..... Big C? Strewth

So? You think China is fair? Is that how they got to be #2?

What has China got to do with it?

[chiang mai]

You omit the larger ones, Minor Group and CP Group.

Minor group is owned by an American turned Thai so I didn't count that.

Heinecke moved here when he was 14 years old and founded the group thereafter, American by parentage and that's about all!

[davehowden]

"How to Save the Thai Economy"

Jeez where to start, perhaps make something that somebody wants to buy at a price that you are willing to sell it for?

So what do you have Thailand, the World already has enough idiots, grass skirts, military juntas and dodgy rice.

[lostoday]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Most of them notably operating in industries of limits to foreign entry..... Big C? Strewth

So? You think China is fair? Is that how they got to be #2?

What has China got to do with it?

The thread is about how to save the Thai economy not about fairness in competition for Farangs. China got to be #2 Because they were unfair to the international competition as did Japan and the East India company. You wrote, "Most of them notably operating in industries of limits to foreign entry." which has nothing to do with saving the Thai economy it would only hurt the Thai economy to open it up to more international competition.

[chiang mai]

Rubbish, China got to be number 2 by making things cheaper than anyone else, that's hardly unfair.

[lostoday]

You omit the larger ones, Minor Group and CP Group.

Minor group is owned by an American turned Thai so I didn't count that.

Heinecke moved here when he was 14 years old and founded the group thereafter, American by parentage and that's about all!

Heinecke was an American citizen till he got rich in Thailand and gave up his American citizenship in 1991.

[Thai at Heart]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

PTT, Bangkok Bank, Central, Thai Bev, Big C, Indorama, all the hospital companies, and I could go on cause I actually know something about Thai business.

Most of them notably operating in industries of limits to foreign entry..... Big C? Strewth

So? You think China is fair? Is that how they got to be #2?

What has China got to do with it?

The thread is about how to save the Thai economy not about fairness in competition for Farangs. China got to be #2 Because they were unfair to the international competition as did Japan and the East India company. You wrote, "Most of them notably operating in industries of limits to foreign entry." which has nothing to do with saving the Thai economy it would only hurt the Thai economy to open it up to more international competition.

There are plenty of foreign businesses operating in China in many markets. Specific comparison with Thailand would take much longer than what can be written here. CP is gargantuan in China supplying feed stock, producing chicken, pork, it has retailing, and even a joint venture making motor bikes.

Most of the companies you mentioned are in businesses off limits to foreign competition thus enjoying an oligopoly position at the expense of the Thai consumer.

On a per capita basis China ranks about 85th in the world. Still plenty of growth to go.....

[h90]

First, hold democratic elections with all and any party allowed to participate and stop running the country as a quasi communist autocratic state.

Your 'expertise' are in the Military arena, not public or political office. Which is abundantly clear for everyone to see.

And keep your mouth SHUT.

How will it help economic if some super rich (vote) buys himself into position of premier and fills his pocket?

If you didn't read it, the Military hired Dr. Somkid (and made him minister) who is the designer of Thaksins Economic plans. That is more than the next oligarch PM will do.

[h90]

Most of them notably operating in industries of limits to foreign entry..... Big C? Strewth

So? You think China is fair? Is that how they got to be #2?

What has China got to do with it?

The thread is about how to save the Thai economy not about fairness in competition for Farangs. China got to be #2 Because they were unfair to the international competition as did Japan and the East India company. You wrote, "Most of them notably operating in industries of limits to foreign entry." which has nothing to do with saving the Thai economy it would only hurt the Thai economy to open it up to more international competition.

What was unfair with the Chinese?

They worked more for less money and the west bought their products. And western companies produce there.

Apple for example.

Western Digital in Thailand

Intel in Malaysia

etc

[chiang mai]

You omit the larger ones, Minor Group and CP Group.

Minor group is owned by an American turned Thai so I didn't count that.

Heinecke moved here when he was 14 years old and founded the group thereafter, American by parentage and that's about all!

Heinecke was an American citizen till he got rich in Thailand and gave up his American citizenship in 1991.

Jeeze, he spent his entire life, from age 14, in Asia building an Asian group of companies, what more do you want!

[h90]

First, hold democratic elections with all and any party allowed to participate and stop running the country as a quasi communist autocratic state.

Your 'expertise' are in the Military arena, not public or political office. Which is abundantly clear for everyone to see.

And keep your mouth SHUT.

Quasi communist? Maybe a little research to see who the communists took over to be in power is in order.

And I can't see any communist style:

Anti Monarchy

Anti Religion

Nationalize everything

Increase taxes for private companies

replace farmer with labor

give free education

have internal elections within the party

I can't see any of these things

[chiang mai]

Is it just me or do the junta-huggers seem to be getting a bit defensive lately?

Junta-huggers! Is that like coup apologists? Wow, where do you guys dream this stuff up!!

[Jon Wetherall]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

Some years ago I saw an opinion passed (Thailand Jumped the Shark as I recall) as to why this is, which seemed sensible. The poster (Fonzi) suggested that Thais expect deference and in USA/Europe they just don't get it. Also, they don't have the acumen to manage profits in places where society expects higher wages and better treatment.

I remember Thaksin trying tio insist that players and staff at Manchester City should wai him. Well, he just got laughed at - understandably. Thais don't adapt well to different cultures, and they always have the face thing.

Maybe it's a factor.

Edited September 11, 2015 by Jon Wetherall

[lostoday]

Minor group is owned by an American turned Thai so I didn't count that.

Heinecke moved here when he was 14 years old and founded the group thereafter, American by parentage and that's about all!

Heinecke was an American citizen till he got rich in Thailand and gave up his American citizenship in 1991.

Jeeze, he spent his entire life, from age 14, in Asia building an Asian group of companies, what more do you want!

He was an American till 1991. That's all I said. Born an American and stayed an American for most of his life. He changed in 91 for tax purposes. I'm only quoting facts you seem to think one gets nationality by osmosis.

He doesn't even speak Thai! Or any other Asian language.

[h90]

Is it just me or do the junta-huggers seem to be getting a bit defensive lately?

Junta-huggers! Is that like coup apologists? Wow, where do you guys dream this stuff up!!

After Thaksin, Samak and Yingluck I would support Kermit the Frog if he becomes PM.

No one can be as bad as these 3.....Two are already officially criminals and Yingluck also soon.

[chiang mai]

The subject was/is, Thai businesses, not nationalities!

[lostoday]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

Some years ago I saw an opinion passed (Thailand Jumped the Shark as I recall) as to why this is, which seemed sensible. The poster (Fonzi) suggested that Thais expect deference and in USA/Europe they just don't get it. Also, they don't have the acumen to manage profits in places where labour is not dirt cheap and people are not prepared to be treated badly.

I remember Thaksin trying tio insist that players and staff at Manchester City should wai him. Well, he just got laughed at - understandably. Thais don't adapt well to different cultures, and they always have the face thing.

Maybe it's a factor.

Face and Wai you gotta be kidding? From the OP, "That network has created staggering inequality: Just 0.1 percent of Thais hold nearly half of the country’s total wealth, according to a 2012 study by the National Economics and Social Development Board, the state economic planning agency

Thais are pouring idle cash into luxury condominiums and high-end shopping malls. Some $1.5 billion have been earmarked for the construction near Bangkok’s historic center of Icon Siam, a shopping mall with retail space the size of 75 soccer fields. Touted as a symbol of “eternal prosperity,” this grand palace of commerce is also a monument to the junta’s misguided economic vision: the promise of consumption with too few consumers who have the income to fulfill it."

In case you don't know what the above means. Thai rich people have got more money from the poor people every year and are now running out of places to put the money and push is about to come to shove.

[Jon Wetherall]

Is it just me or do the junta-huggers seem to be getting a bit defensive lately?

Junta-huggers! Is that like coup apologists? Wow, where do you guys dream this stuff up!!

Exactly like that, yes. It's an adaptation of the term 'tree-hugger' on the basis that the huggee is about as thick and the hugger is... is... is... a perfectly spendid fellow who isn't at all thick or anything like that, but just a touch... gullible.

[Jon Wetherall]

Is it just me or do the junta-huggers seem to be getting a bit defensive lately?

Junta-huggers! Is that like coup apologists? Wow, where do you guys dream this stuff up!!

After Thaksin, Samak and Yingluck I would support Kermit the Frog if he becomes PM.

No one can be as bad as these 3.....Two are already officially criminals and Yingluck also soon.

Yes, I imagine you would. I think we all understand that.

[Jon Wetherall]

Thailand needs an astute businessman , with good international relations , to encourage inward investment and open markets around the world .

A man who might make billions for himself , might also be capable of making it for the country . At present there doesn't seem to be such a man in Thailand .

Yes, it's sad. Thailand should be the food bowl and major manufacturing hub of the region , as well as its tourist industry. But how many Thai companies are world class? Maybe 2...Siam Cement certainly.

K Bank? Gets tough after that.

Some years ago I saw an opinion passed (Thailand Jumped the Shark as I recall) as to why this is, which seemed sensible. The poster (Fonzi) suggested that Thais expect deference and in USA/Europe they just don't get it. Also, they don't have the acumen to manage profits in places where labour is not dirt cheap and people are not prepared to be treated badly.

I remember Thaksin trying tio insist that players and staff at Manchester City should wai him. Well, he just got laughed at - understandably. Thais don't adapt well to different cultures, and they always have the face thing.

Maybe it's a factor.

Face and Wai you gotta be kidding? From the OP, "That network has created staggering inequality: Just 0.1 percent of Thais hold nearly half of the country’s total wealth, according to a 2012 study by the National Economics and Social Development Board, the state economic planning agency

Thais are pouring idle cash into luxury condominiums and high-end shopping malls. Some $1.5 billion have been earmarked for the construction near Bangkok’s historic center of Icon Siam, a shopping mall with retail space the size of 75 soccer fields. Touted as a symbol of “eternal prosperity,” this grand palace of commerce is also a monument to the junta’s misguided economic vision: the promise of consumption with too few consumers who have the income to fulfill it."

In case you don't know what the above means. Thai rich people have got more money from the poor people every year and are now running out of places to put the money and push is about to come to shove.

"Face and Wai you gotta be kidding?"

No, I wasn't kidding, it's pretty well documented.

And yes, I do know what the above means and I agree with what I suspect is your opinion about it all. I just don't think I fully understood how bad it has got under the feudal barons. No wonder they want to both conceal and perpetuate it.

No wonder the beer baron (Boonrawd as I recall but I may be wrong and apologise if I am) disowned his loud-mouthed daughter, though that was obviously public consumption only and wasn't for real.

[ggt]

To "save" Thailand's economy...one must save the world's economies...China's economy is in rapid decline...taking down many dependent nations with it...there is no good news or light on the horizon...batten down the hatches...reign in unnecessary debt...secure your family and valuables...this could be a very long ride all downhill from here for decades to come...