Thai economy and spirits sagging, according to New York Times

[webfact]

Thai economy and spirits sagging, according to New York Times
BY LARRY BANKS



BANGKOK: -- An article in the weekend edition of the New York Times claims that the Thai economy and spirits are sagging.

“Do not be fooled by the throngs of Chinese tourists clogging the entrance to the Gilded Grand Palace, the roads buzzing with traffic or the plastic smiles of hostesses greeting the lunch crowd at luxury hotels. Thailand is in a rut”, the article starts, before going on to explain that Thai households are the most indebted in Asia.

The New York Times piece highlights various quotes from a Thai radio host, noodle sellers, and loan sharks.

“In a wholesale clothing district of Bangkok, many shops are for sale or going out of business, says Thongyoy Phaesuwan, 29, the owner of a clothing business. Her buyers have become cautious and frugal”.

However, the article also highlights the fact that parts of the main shopping and business districts are jam-packed with Thais and tourists, with restaurants filled with people. But even the deputy prime minister has highlighted the downturn in the Thai people’s mood.

Full story: http://ethailand.com/business-news/thai-economy-and-spirits-sagging-according-to-new-york-times/501/

-- eThailand 2015-12-01

[trogers]

Sure to be sagging when the millions of debtors, created over the past decade have to wake up and start paying down their debts...

[harada]

Wait for it " F O. Nu Yok Tym "

[digibum]

Is the NYT not available in Thailand? If it is available, what is the point of linking to a story about a story? Just link to the actual story.

[digibum]

For those who don't bother to read the NYT version, that last sentence in the OP may sounds contradictory but it is because it is out of context. Basically the article points out that many vendors have hit tough times but then it points out that the rich haven't felt the pinch as much as the poor so the high end shopping malls and expensive restaurants still see plenty of customers.

[worgeordie]

This cannot possibly be true!,it is the exact opposite to the propaganda

that the Government is dishing out,everyone is extremely happy a true

land of smiles,the economy is booming,while the rest of the World is

languishing in debit,unemployment,who to believe?,this is all very

confusing.

regards Worgeordie

[GinBoy2]

Is the NYT not available in Thailand? If it is available, what is the point of linking to a story about a story? Just link to the actual story.

[MZurf]

Is the NYT not available in Thailand? If it is available, what is the point of linking to a story about a story? Just link to the actual story.

The actual story has links to a subject that we are not allowed to discuss in Thailand. Very interesting.

[waldroj]

I didn't need the NYT to tell me this news. Just talk with anyone in Pratunam or Bobae about how their business is going!

As for the shopping centres, they may be full of window shoppers and tourists, but how many people are actually buying anything?

As for people's mood, I thought everyone was full of happiness.

[craigt3365]

Business is definitely down. Some are still doing OK. Those that cater to the right market, have the right product or are in the right location. But others are suffering. In Pattaya, there's a slew of closed businesses. Lots of for rent and for sale signs.

[rodknock]

watch out for the wool being pulled over every ones eyes by the govt.

[SoilSpoil]

I feel a Dailymail-like ban coming for NYT.

[LivinLOS]

This cannot possibly be true!,it is the exact opposite to the propaganda

that the Government is dishing out,everyone is extremely happy a true

land of smiles,the economy is booming,while the rest of the World is

languishing in debit,unemployment,who to believe?,this is all very

confusing.

regards Worgeordie

time for another Suan Dusit poll telling us how 96% of Thais are gloriously happy with dear leader and the economy is on the up.

[digibum]

Is the NYT not available in Thailand? If it is available, what is the point of linking to a story about a story? Just link to the actual story.

The actual story has links to a subject that we are not allowed to discuss in Thailand. Very interesting.

So it's okay to link to a story which summarizes a NYT article and has a link to the NYT article but it's not cool to link directly to the NYT article because the NYT article has links to stuff that might not be cool?

This pretty much summarizes everything wrong with censorship.

[Jimbo2014]

I'm guessing the NYT link will take me to some green text in thai next time I try to access it ?

[phuketandsee]

The Thai edition of the International New York Times with the offending article blanked out:

[Redline]

This is why the NY Times is no longer in print in Thailand. They can't write anything critical and be able to print it.

[BestBitterPhuket]

That's what happens when you resist change. Thailand's competitors are changing, and moving ahead. Thailand is living in the past. No pro-business reforms. No education reforms. No political reforms (especially the reform of the police and combatting corruption). Thai talents are scarce or non-existent, but yet they refuse to allow foreign talents and experts to help boost the Thai economy. The generals hope that China will come to the rescue, but they won't. They will only suck more blood out of Thailand. The time when Thais have to work as farm labourers and house maids in Myanmar and Philippines is fast approaching, because Thailand is on its way to become the least developed country in South-East Asia. Its just a matter of time, unless they make turnaround.

[dageurreotype]

Is the NYT not available in Thailand? If it is available, what is the point of linking to a story about a story? Just link to the actual story.

The actual story has links to a subject that we are not allowed to discuss in Thailand. Very interesting.

I've already read that article and it's links which kind of proves my suspicion it's not only the Thais who have no clue as to what The Rest Of The World are saying about them and quite possibly blissful in their ignorance. But many posts on this forum point up the farang contingent following their lead, which is somewhat shameful for those who have made their homes in a country which consistently proves it doesn't give a rat's about them.

[NCC1701A]

to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves.

so anything to do the military of any country they go crazy.

notice there is no mention of thai government stimulus spending or "schemes" and the long term negative effects?

thais party like there is no tomorrow, because there is only right now.

their neighbors have been eating white rice and rat meat and have been going as they are told for 50 years.

so party on thailand!

[MZurf]

to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves.

so anything to do the military of any country they go crazy.

notice there is no mention of thai government stimulus spending or "schemes" and the long term negative effects?

thais party like there is no tomorrow, because there is only right now.

their neighbors have been eating white rice and rat meat and have been going as they are told for 50 years.

so party on thailand!

"to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves."

Wow, quite a rant. Kudos to you!! It's been a while since I read an equally "tinfoil hatted" post.

[h90]

the backbone of Thailand is Industry and Food production. If some tourists by some hi-so clothes is in economical terms irrelevant.

But my feeling tells Industry production isn't running so smooth as well.

[halloween]

Being frugal and cautious when you are seriously in debt sounds like a good plan. Of course, next election, one party or the other will be offering credit cards and low interest loans, or promising everyone will be rich in 6 months after they are elected.

[halloween]

to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves.

so anything to do the military of any country they go crazy.

notice there is no mention of thai government stimulus spending or "schemes" and the long term negative effects?

thais party like there is no tomorrow, because there is only right now.

their neighbors have been eating white rice and rat meat and have been going as they are told for 50 years.

so party on thailand!

"to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves."

Wow, quite a rant. Kudos to you!! It's been a while since I read an equally "tinfoil hatted" post.

When you're so far out on the loony left wing that you're almost in orbit, even a moderate lefty looks like Attila the Hun.

[spidermike007]

For those who don't bother to read the NYT version, that last sentence in the OP may sounds contradictory but it is because it is out of context. Basically the article points out that many vendors have hit tough times but then it points out that the rich haven't felt the pinch as much as the poor so the high end shopping malls and expensive restaurants still see plenty of customers.

Exactly the same us happening in the US. The ever age consumer is pinching pennies.

[londonthai]

This is why the NY Times is no longer in print in Thailand. They can't write anything critical and be able to print it.

the thai edition is printed in thailand and the printing company blacked out the critical text.

once, around a year ago, the printers refused to print one edition alltogether

[dageurreotype]

This is why the NY Times is no longer in print in Thailand. They can't write anything critical and be able to print it.

the thai edition is printed in thailand and the printing company blacked out the critical text.

once, around a year ago, the printers refused to print one edition alltogether

Have the heard of the internet d'ya think? The one they're trying to close down? Christ they're stupid.

[elgordo38]

This cannot possibly be true!,it is the exact opposite to the propaganda

that the Government is dishing out,everyone is extremely happy a true

land of smiles,the economy is booming,while the rest of the World is

languishing in debit,unemployment,who to believe?,this is all very

confusing.

regards Worgeordie

Reread your last statement. It is meant to be very confusing. The rich are still shopping while the poor are stopping shopping. Watch the 4 parts of the movie Mockingjay and you will see the parody. Lets hope the conclusions are not the same as in the movie.

[Nowisee]

Is the NYT not available in Thailand? If it is available, what is the point of linking to a story about a story? Just link to the actual story.

Great article, very insightful and it should open some eyes or the bury the head in the sand crowd.

I've already read that article and it's links which kind of proves my suspicion it's not only the Thais who have no clue as to what The Rest Of The World are saying about them and quite possibly blissful in their ignorance. But many posts on this forum point up the farang contingent following their lead, which is somewhat shameful for those who have made their homes in a country which consistently proves it doesn't give a rat's about them.

That's what happens when you resist change. Thailand's competitors are changing, and moving ahead. Thailand is living in the past. No pro-business reforms. No education reforms. No political reforms (especially the reform of the police and combatting corruption). Thai talents are scarce or non-existent, but yet they refuse to allow foreign talents and experts to help boost the Thai economy. The generals hope that China will come to the rescue, but they won't. They will only suck more blood out of Thailand. The time when Thais have to work as farm labourers and house maids in Myanmar and Philippines is fast approaching, because Thailand is on its way to become the least developed country in South-East Asia. Its just a matter of time, unless they make turnaround.

Well written stuff.

[MZurf]

to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves.

so anything to do the military of any country they go crazy.

notice there is no mention of thai government stimulus spending or "schemes" and the long term negative effects?

thais party like there is no tomorrow, because there is only right now.

their neighbors have been eating white rice and rat meat and have been going as they are told for 50 years.

so party on thailand!

"to be fair, the new york times is ultra left wing...

they hate the US military, they hate America and they hate themselves."

Wow, quite a rant. Kudos to you!! It's been a while since I read an equally "tinfoil hatted" post.

When you're so far out on the loony left wing that you're almost in orbit, even a moderate lefty looks like Attila the Hun.

To disagree with the statement that the NY Times is ultra left wing, hates the military and hate themselves is loony left??

Wonder what kind of weird alternative reality you live in.