webfact Posted January 8, 2016 Share Posted January 8, 2016 Weakening Yuan will not affect Thailand in long runBANGKOK, 8 January 2016 (NNT)-Deputy Prime Minister Somkid Jatusripitak said China’s decision to weaken its Yuan currency will only have a short term effect on Thailand.The Deputy Prime Minister said the impact will only last 2-3 days given the strong fundamentals of the Thai economy. The Ministry of Finance and the Bank of Thailand have been instructed to develop measures to protect the Thai baht.He believes there will be no currency war as has been rumored. Finance Minister Aphisak Tantiworawong said it is a common phenomenon that when a giant economy is affected, other nations will be too.He urges everyone not to panic, adding that the rest of the world is also experiencing a certain level of impact whether it is from conflicts in the Middle East and the U.S. interest rate policy. It is important for Thailand to continue building strong economic foundation through government’s spending and investment.-- NNT 2016-01-08 Link to comment Share on other sites More sharing options...
theguyfromanotherforum Posted January 8, 2016 Share Posted January 8, 2016 Nothing affect Thailand because it Superman Link to comment Share on other sites More sharing options...
Basil B Posted January 8, 2016 Share Posted January 8, 2016 China is suffering a down turn, China is not bankrupt but will need to to pull in some of the monies owed. So ever country that owes China money will soon find themselves under pressure to repay their debts. Link to comment Share on other sites More sharing options...
jcsmith Posted January 8, 2016 Share Posted January 8, 2016 A weakened Chinese economy will lead to less Chinese tourists. Surely that will have some effect on the Thai economy. Link to comment Share on other sites More sharing options...
clockman Posted January 8, 2016 Share Posted January 8, 2016 (edited) Reminds me of Harold Wilson. This will not effect the pound in your pocket? Edited January 8, 2016 by clockman Link to comment Share on other sites More sharing options...
MZurf Posted January 8, 2016 Share Posted January 8, 2016 "The Deputy Prime Minister said the impact will only last 2-3 days given the strong fundamentals of the Thai economy." And those strong fundamentals are?? Link to comment Share on other sites More sharing options...
ldiablo Posted January 8, 2016 Share Posted January 8, 2016 Nothing affect Thailand because it SupermanTook the words right out of my mouth. Link to comment Share on other sites More sharing options...
BigBadGeordie Posted January 8, 2016 Share Posted January 8, 2016 Teflon Thailand! Link to comment Share on other sites More sharing options...
Rob13 Posted January 8, 2016 Share Posted January 8, 2016 What about all those Chinese tourists I see around CM,are they unaffected by it by being in Thailand? Link to comment Share on other sites More sharing options...
thesetat2013 Posted January 8, 2016 Share Posted January 8, 2016 Yeah this won't affect Thailand at all. Especially in tourism where we will soon get a nice report about saying all is well by TAT. About the same we got when it happened to Russia Link to comment Share on other sites More sharing options...
Pib Posted January 8, 2016 Share Posted January 8, 2016 Thailand is like all the worlds super heroes rolled into one...nothing can hurt Super Thailand....absolutely nothing. Link to comment Share on other sites More sharing options...
NeverSure Posted January 8, 2016 Share Posted January 8, 2016 China is suffering a down turn, China is not bankrupt but will need to to pull in some of the monies owed. So ever country that owes China money will soon find themselves under pressure to repay their debts. Wow. Ignorant. China has been selling loads of US Treasuries to raise cash because China is broke. Those treasuries have been absorbed by other international buyers. There is a regular and stable market for bonds and treasuries and China's big sales of US Treasuries haven't even had a marked affect on yields. It is CHINA that is sucking air, dude. HERE, Read up on China's sales of almost $2 trillion in US treasuries because China is broke and see how it has had NO impact on markets. In down times, people flee to safety and #1 is US treasuries. I realize that idiots have said that the US owes China money and therefore China is on top. Doom was predicted for the US. But those people didn't understand that China has to hold USD to engage in international trade. They hold those dollars in treasuries because few will accept the Yuan as payment for anything. NOW one has to wonder how China survives if it doesn't hold enough US treasuries to back its international trades. China is crashing and it's too broke to hold enough USD now so only time will tell... Cheers. Link to comment Share on other sites More sharing options...
NeverSure Posted January 8, 2016 Share Posted January 8, 2016 China is suffering a down turn, China is not bankrupt but will need to to pull in some of the monies owed. So ever country that owes China money will soon find themselves under pressure to repay their debts. Oh, you forgot to read the other thread that points out that China's national debt is 300% of its GDP. That's an over the moon amount, son. Cheers. Link to comment Share on other sites More sharing options...
SoFarAndNear Posted January 8, 2016 Share Posted January 8, 2016 I thought Chinese tourists are highly important for thai tourism. Weakening Yuan means lesser money spend on Thai vacations... Link to comment Share on other sites More sharing options...
nojoma Posted January 8, 2016 Share Posted January 8, 2016 like the captain of the titanic said.......we're only stopping for ice Link to comment Share on other sites More sharing options...
TheCruncher Posted January 8, 2016 Share Posted January 8, 2016 China is suffering a down turn, China is not bankrupt but will need to to pull in some of the monies owed. So ever country that owes China money will soon find themselves under pressure to repay their debts. Oh, you forgot to read the other thread that points out that China's national debt is 300% of its GDP. That's an over the moon amount, son. Cheers. You should inform wikipedia because what I read is that the debt to GDP ratio of the US is way higher than that of China.\ https://en.wikipedia.org/wiki/List_of_countries_by_public_debt https://en.wikipedia.org/wiki/List_of_countries_by_external_debt Link to comment Share on other sites More sharing options...
IsaanUSA Posted January 8, 2016 Share Posted January 8, 2016 The Deputy Prime Minister said the impact will only last 2-3 days 2 to 3 days? Does this seem odd to anybody else? Shouldn't it be months or years? I wonder how this affects ASEAN or AEC. Link to comment Share on other sites More sharing options...
mommysboy Posted January 8, 2016 Share Posted January 8, 2016 Why would they want to protect the baht ! if it were to weaken then that would be good news for exporters who simply can't compete at present. Could do with losing 10% of its value straight away. Link to comment Share on other sites More sharing options...
Thian Posted January 8, 2016 Share Posted January 8, 2016 China is suffering a down turn, China is not bankrupt but will need to to pull in some of the monies owed. So ever country that owes China money will soon find themselves under pressure to repay their debts. Wow. Ignorant. China has been selling loads of US Treasuries to raise cash because China is broke. Those treasuries have been absorbed by other international buyers. There is a regular and stable market for bonds and treasuries and China's big sales of US Treasuries haven't even had a marked affect on yields. It is CHINA that is sucking air, dude. HERE, Read up on China's sales of almost $2 trillion in US treasuries because China is broke and see how it has had NO impact on markets. In down times, people flee to safety and #1 is US treasuries. I realize that idiots have said that the US owes China money and therefore China is on top. Doom was predicted for the US. But those people didn't understand that China has to hold USD to engage in international trade. They hold those dollars in treasuries because few will accept the Yuan as payment for anything. NOW one has to wonder how China survives if it doesn't hold enough US treasuries to back its international trades. China is crashing and it's too broke to hold enough USD now so only time will tell... Cheers. Who will flee into US treasuries? Dream on man. They flee to Germany which even gives NEGATIV interest but even that doesn't bother them. We still remember who sold us the crap loans which caused many banks to fall and started the whole crisis.....now who were they? Link to comment Share on other sites More sharing options...
mommysboy Posted January 8, 2016 Share Posted January 8, 2016 Just got the answer to my own question. They must have a lot dollar debt to repay. A weak baht would add to that burden. Maybe those solid fundamentals are not so strong ! Link to comment Share on other sites More sharing options...
somo Posted January 8, 2016 Share Posted January 8, 2016 The Deputy Prime Minister said the impact will only last 2-3 days 2 to 3 days? Does this seem odd to anybody else? Shouldn't it be months or years? I wonder how this affects ASEAN or AEC. 2-3 days seems about right. The PM has a track record of claiming to solve these sorts of problems very quickly. Amazing how he does it really. Link to comment Share on other sites More sharing options...
sandyf Posted January 8, 2016 Share Posted January 8, 2016 I thought Chinese tourists are highly important for thai tourism. Weakening Yuan means lesser money spend on Thai vacations... What on earth makes you think the Yuan has weakened. 2 Years ago we were paying 5 baht for Yuan, last year it was 5.2 baht and today it is 5.5 baht. Weakened against the dollar but against the baht only just come off the high of 5.65. Thailand is still 10% cheaper for the Chinese than it was 2 years ago. Link to comment Share on other sites More sharing options...
englishoak Posted January 8, 2016 Share Posted January 8, 2016 I thought Chinese tourists are highly important for thai tourism. Weakening Yuan means lesser money spend on Thai vacations... What on earth makes you think the Yuan has weakened. 2 Years ago we were paying 5 baht for Yuan, last year it was 5.2 baht and today it is 5.5 baht. Weakened against the dollar but against the baht only just come off the high of 5.65. Thailand is still 10% cheaper for the Chinese than it was 2 years ago. The Yuan has not only weakened but has actually been devalued by China already this week, what are you on about ? They only just devalued it this week, patience young padwan, give it time to flow downhill into the markets The move puts pressure on other central banks around the world to push down their own currencies to help their own exporters and to prevent destabilizing capital flows. The move could hurt commodities markets because it signals potential weak demand from China. It could also accelerate capital outflows out of China, especially if investors expect further devaluations. Thailand along with the other regional competitors will be feeling that pressure in the coming months as the contraction begins to hit home in China. Chinese tours will after this new year pre bookings probably finally start to seriously taper off, plus the optimism re China for the rest of the year at least is looking pretty bleak. Link to comment Share on other sites More sharing options...
TheCruncher Posted January 8, 2016 Share Posted January 8, 2016 I thought Chinese tourists are highly important for thai tourism. Weakening Yuan means lesser money spend on Thai vacations... What on earth makes you think the Yuan has weakened. 2 Years ago we were paying 5 baht for Yuan, last year it was 5.2 baht and today it is 5.5 baht. Weakened against the dollar but against the baht only just come off the high of 5.65. Thailand is still 10% cheaper for the Chinese than it was 2 years ago. The Yuan has not only weakened but has actually been devalued by China already this week, what are you on about ? They only just devalued it this week, patience young padwan, give it time to flow downhill into the markets The move puts pressure on other central banks around the world to push down their own currencies to help their own exporters and to prevent destabilizing capital flows. The move could hurt commodities markets because it signals potential weak demand from China. It could also accelerate capital outflows out of China, especially if investors expect further devaluations. Thailand along with the other regional competitors will be feeling that pressure in the coming months as the contraction begins to hit home in China. Chinese tours will after this new year pre bookings probably finally start to seriously taper off, plus the optimism re China for the rest of the year at least is looking pretty bleak. They devalued the Yuan 3 times last year. http://www.investopedia.com/articles/forex/090215/chinese-devaluation-yuan.asp Link to comment Share on other sites More sharing options...
IsaanUSA Posted January 8, 2016 Share Posted January 8, 2016 I thought Chinese tourists are highly important for thai tourism. Weakening Yuan means lesser money spend on Thai vacations... What on earth makes you think the Yuan has weakened. 2 Years ago we were paying 5 baht for Yuan, last year it was 5.2 baht and today it is 5.5 baht. Weakened against the dollar but against the baht only just come off the high of 5.65. Thailand is still 10% cheaper for the Chinese than it was 2 years ago. Good point. It's a slightly misleading article. So the yuan has weakened against the dollar. The baht has also weakened to the dollar. But it looks like the baht has also weakened against the yuan. Link to comment Share on other sites More sharing options...
stickylies Posted January 8, 2016 Share Posted January 8, 2016 Thailand is like all the worlds super heroes rolled into one...nothing can hurt Super Thailand....absolutely nothing. thailand.... big! .... farang no understand...... thailand.... nr 1 asean .... big! ..... have big economy ..... big ! .... thailand.... never colonized .... big! prayut.... him big! thailand.... happy! big! bike for dad... big! thailand ... bpblèm... no have! farang no understand! we big! velly velly! Link to comment Share on other sites More sharing options...
Ruud4u Posted January 8, 2016 Share Posted January 8, 2016 The Thai economy is strong and not depending of foreign companies ?????? If the Japanese auto industry leaves Thailand and some other industry their GDP will go down.They believe in the touristindustry, but have no decent places for the groups Chinese visitors and a roundtour from a few days don't mean they will come back another time to Thailand. The governmentdebt is growing and has no direct advantage for their GDP. In Thailand they put "the horse behind the carriage" But they are always uptimistic about their future I hope Thai entrepeneurs will invest in all-inclusive resorts for the Chinese tourists, because there they can make big profit and don't wait till foreign companies will do it. Good Luck Link to comment Share on other sites More sharing options...
matta330 Posted January 8, 2016 Share Posted January 8, 2016 Is that big sign still up on the way from Suvarnabhumi into town proclaiming the Yuan as the new world currency? Link to comment Share on other sites More sharing options...
englishoak Posted January 8, 2016 Share Posted January 8, 2016 I thought Chinese tourists are highly important for thai tourism. Weakening Yuan means lesser money spend on Thai vacations... What on earth makes you think the Yuan has weakened. 2 Years ago we were paying 5 baht for Yuan, last year it was 5.2 baht and today it is 5.5 baht. Weakened against the dollar but against the baht only just come off the high of 5.65. Thailand is still 10% cheaper for the Chinese than it was 2 years ago. The Yuan has not only weakened but has actually been devalued by China already this week, what are you on about ? They only just devalued it this week, patience young padwan, give it time to flow downhill into the markets The move puts pressure on other central banks around the world to push down their own currencies to help their own exporters and to prevent destabilizing capital flows. The move could hurt commodities markets because it signals potential weak demand from China. It could also accelerate capital outflows out of China, especially if investors expect further devaluations. Thailand along with the other regional competitors will be feeling that pressure in the coming months as the contraction begins to hit home in China. Chinese tours will after this new year pre bookings probably finally start to seriously taper off, plus the optimism re China for the rest of the year at least is looking pretty bleak. They devalued the Yuan 3 times last year. http://www.investopedia.com/articles/forex/090215/chinese-devaluation-yuan.asp Id suggest thats a lot more to do with manipulation by BOT than anything else... its been told to keep up a good appearance by el junta since it took over and that about it. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted January 9, 2016 Share Posted January 9, 2016 Nothing ever affects LoS except perhaps the current govt at any given time. I don't include the present one of course for many reasons including AA and the high rating in popularity polls. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now