What could Beijing's new status as 'billionaire capital of the world' mean for Thailand?

[webfact]

What could Beijing's new status as 'billionaire capital of the world' mean for Thailand?
Staff writer


Featured image by Philip Roeland and used under a Creative Commons licence

BANGKOK: -- With 100 billionaires calling it home, Beijing is the new Billionaire Capital of the World.

The Chinese capital has overtaken New York – home to just 95 – according to new research by Shanghai firm, Hurun, reports Yahoo Finance. Additionally, it was discovered that China is home to proportionally more self-made billionaires than in the US.

“What we showed today is that at the super-wealth creation level, the Chinese are now leading,” says Rupert Hoogewerf, founder of Hurun. “People will look at China the same way that people looked at Stanford or Silicon Valley in the 1990s.”

The impressive growth of Chinese wealth can largely be attributed to the number of initial public offerings allowed by market regulators after a long period of repression, believes Hoogewerf.

The stats also acknowledge the resilience of wealth to the problems experienced in the Chinese stock market and economy last year, where the market tumbled 40 percent in the final six months and the yuan reached its lowest level against the dollar in five years.

But as wealth trickles down through Chinese society, what could this mean for Thailand? Will they abandon the Kingdom for more luxury destinations and investment safe havens?

Full story: http://whatsonsukhumvit.com/what-could-beijings-new-status-as-billionaire-capital-of-the-world-mean-for-thailand/


-- (c) What's on Sukhumvit 2016-02-25

[NextStationBangkok]

China will fail if these billions are not reaching the rural poor. Anyway these billionaires will buy expensive properties in NewYork and they will never comeback to China again.

They are sitting on false economy and only few have connections with corrupt politicians get benefit. Remaining working for just enough food and living.

So if they are complaining China is slowing down, it is their own fault on the capitalist policies, that does help the rural people's buying power and only rich are inflating their billions and sitting on it.

The middle class who are praying on the economic boost and invested on share market is failed again because the rural don't have enough money to spend later.

Western world don't understand this logic, and who ever is invested in China will go bankrupt. They need another revolution to bring back their economy and all Chinese linked economy will fail, but World bank Chief is failed to indicate this, because IMF itself will fail.

Then it is good also for the world, because China is big threat for every territory around them and aggressively they bullying and pushing the other nations recently.

[Chang_paarp]

What could Beijing's new status as 'billionaire capital of the world' mean for Thailand?

Not much, not much in Thailand to offer them apart from a place to change planes.

[terryp]

Not a lot as many are hangin & investing in Vancouver...not the 3rd World (apart from Africa)

[Pib]

A lot will depend on when Thailand officially become a province of China.

[IamNoone88]

What can Thailand offer over China? Tropical islands? They have Hainan where they can own freely. The wealthy Chinese prefer London, New York and other capital cities. They won't abandon Thailand - they never really came.

[yellowboat]

Neighboring countries are more interesting for investment.

[Asiantravel]

China will fail if these billions are not reaching the rural poor. Anyway these billionaires will buy expensive properties in NewYork and they will never comeback to China again.

They are sitting on false economy and only few have connections with corrupt politicians get benefit. Remaining working for just enough food and living.

So if they are complaining China is slowing down, it is their own fault on the capitalist policies, that does help the rural people's buying power and only rich are inflating their billions and sitting on it.

The middle class who are praying on the economic boost and invested on share market is failed again because the rural don't have enough money to spend later.

Western world don't understand this logic, and who ever is invested in China will go bankrupt. They need another revolution to bring back their economy and all Chinese linked economy will fail, but World bank Chief is failed to indicate this, because IMF itself will fail.

Then it is good also for the world, because China is big threat for every territory around them and aggressively they bullying and pushing the other nations recently.

Photographs Of The "Surreal, Uncanny" Emptiness Of China's Ghost Cities

http://www.zerohedge.com/news/2016-02-19/photographs-surreal-uncanny-emptiness-chinas-ghost-cities

Edited February 25, 2016 by Asiantravel

[Deli]

Who would invest in a country without a civil Government ?

[GAZZPA]

China will fail if these billions are not reaching the rural poor. Anyway these billionaires will buy expensive properties in NewYork and they will never comeback to China again.

They are sitting on false economy and only few have connections with corrupt politicians get benefit. Remaining working for just enough food and living.

So if they are complaining China is slowing down, it is their own fault on the capitalist policies, that does help the rural people's buying power and only rich are inflating their billions and sitting on it.

The middle class who are praying on the economic boost and invested on share market is failed again because the rural don't have enough money to spend later.

Western world don't understand this logic, and who ever is invested in China will go bankrupt. They need another revolution to bring back their economy and all Chinese linked economy will fail, but World bank Chief is failed to indicate this, because IMF itself will fail.

Then it is good also for the world, because China is big threat for every territory around them and aggressively they bullying and pushing the other nations recently.

Of course Western people understand what is going on on China..

over 25% of the growth in the last 10 or 15 years in China has been government investment in infrastructure and buildings towns and cities, many of which are empty. There are so many "ghost" towns in China simply because of historical corruption with local province leaders milking the system building pointless projects and sharing the spoils (this is changing thankfully).

In Beijing alone there are apparently so many empty condos that at the current rate of sale it will take over 7 years to sell them all,, AND they are still building.

China has created many billionaires for sure and thats where the wealth has gone. Suppressing the salaries for the workers was a necessary evil as they needed to try and keep exports competitive to keep the cash cow going.

Of course this has slowly changed but Chinese workers in the cities still only earn about 700 to 800 usd a month,, absolutely nothing when you consider the cost of condos in all the major cities down the coast of Eastern China.

Lastly, personal debt is rising in China at a shocking rate and the luxury good industry is feeling the pinch.

So, yes everyone understand the economic realities of China, much is built on false economy and Government investment projects which of course cannot go on forever if they do not yield true increases in GDP and raise the income for the masses.

[mesterm]

You mean that country full of fakes? They'd fit right in.

[OPG]

China as someone stated above, is sitting on a false economy...this is and has been the truth since before the boom. I have seen and experienced this first hand when I had dealings with the largest banks as well as the Chinese Government established asset management companies that were organized to hide the constantly growing massive debt. Throw into the mix the real estate bubble they are in and it's a disaster waiting to happen!

[Lupatria]

What could Beijing's new status as 'billionaire capital of the world' mean for Thailand?

The answer is simple: the already rich here will get jealous and become even more greedy.

[khun custard]

What could Beijing's new status as 'billionaire capital of the world' mean for Thailand?

The answer is simple: the already rich here will get jealous and become even more greedy.

Hmm, visualizing Thai's snubbing wealthy Chinese (with the house, the car and maybe the boat) and calling them Falangs, now that is a refreshing thought!

You don't see that many Thai whitening cream movie stars latched onto the forearm of Chinese 30+ something's do you??

There is very serious issues with the age/ sex mix in China - too many men and too few women brought about by 20+ years selective breeding and infanticide.

History proves that when gender disparity occurs it always ends in war - civil or other wise

Maybe there is hope for the evil, "mature age" westerners here yet?

Edited February 25, 2016 by khun custard

[Mot Dang]

I'm sick to death of hearing about China and how Thailand can further benefit from the new rich. Little of the money gleaned out of the pockets of China's new rich finds its way into the pockets of the ordinary Thai in the street. Ask them, particularly in the resort towns, with the anger building up they will laugh in your face. No, China's gold will only line the pockets of the elite. Those that don't have to put up with the crap and indignations handed out by these ignorant rude dirty people.

[Nickymaster]

The Thai gouvernement is considering lifting luxury tax on brand goods. That will be an important step in attracting more rich Chinese.

[DrTuner]

What does it mean? Just that the Chinese are Chinese, the usual elite in place in both countries.

It's Asia, stupid.

Edited February 25, 2016 by DrTuner

[chilli42]

It will mean nothing for Thailand. The wealthy will not want to come to a destination that is frequented by the lower end of the income scale from their own country. Furthermore. Being from Asia the perceive exotic charm of Thailand will be lost on them. Thailand is a cheap vacation with warm weather that will attract the low end. The rich and middle class Chinese will flock to US and Europe (Europen capitals are already chocked with Chinese) and Aus/NZ

[Whyamiandwhatamidoinghere]

Most the billionaires are sending their families to western countries and their billions offshore out of fear of being arrested by the government.

[Whyamiandwhatamidoinghere]

It will mean nothing for Thailand. To the chinese Thailand is just a playground as it is to most countries. Wealthy chinese dont come to thailand for luxury shopping too because they dont trust authenticity of the brand. They would rather fly to los angeles or new york for shopping at geniune luxury retailers and have a legitimate warranty then risk being scammed in Thailand.

[Whyamiandwhatamidoinghere]

A lot will depend on when Thailand officially become a province of China.

China just wants Thailand's resources and when those are used up Thailand will be no further use to Beijing.

[ggt]

It means that when one is forced to step over droppings on the sidewalk...one may notice more undigested caviar and lobster...

[GAZZPA]

It will mean nothing for Thailand. To the chinese Thailand is just a playground as it is to most countries. Wealthy chinese dont come to thailand for luxury shopping too because they dont trust authenticity of the brand. They would rather fly to los angeles or new york for shopping at geniune luxury retailers and have a legitimate warranty then risk being scammed in Thailand.

You are right, Thailand does not cater for the seriously wealthy people. It has some good hotels in Bangkok for sure but not a patch on the Western capitals and if you look at Pattaya or Phuket, well what can I say? None of the super rich step foot in such places with mostly low class establishments, gogo bars and street food everywhere.

By the time Thailand catches up to this and realises that they are "low end" attracting mostly sex tourists, back packers and cheap medical procedures we will all be long gone.

You are also right in that when you visit a luxury goods store in the West they are the genuine article and not some cheap knock offs. When I lived in Hong Kong one of the "luxury goods" brands was in the press and had been raided because instead of selling the genuine articles they were selling fakes,, in a genuine branded shop! Half an hour away from Lo Wu and enormous margins is just too much for people to resist.

[sanukjim]

Not much as the Chinese billionaires will continue to buying property in England and The United States, Expanding growth in India and other countries that have favorable investment and labor laws that they can count on with out coups and new regimes that interpret and change existing laws to their own means.

[Nicolas32]

Not a lot because they prefer Europe to this shit hole ?

[pbeieio]

Lies, damn lies and statistics!!!!

[micmichd]

What does it mean? Just that the Chinese are Chinese, the usual elite in place in both countries.

It's Asia, stupid.

Yes. it's Asia, the region developing in two speeds with two different economies. Very smart.

[Mot Dang]

A lot will depend on when Thailand officially become a province of China.

China just wants Thailand's resources and when those are used up Thailand will be no further use to Beijing.

Sounds a bit like the Borg. Where do you see the parallels in the contact with the Chinese.

"Resistance is futile. You shall be assimilated".

"We are the Borg. Existence as you know it is over. We will add your biological and technological distinctiveness to our own."

"Don't move Geordi, if we don''t appear threatening, they should ignore us."

Edited February 27, 2016 by Mot Dang

[smokeyhead]

They could start mass producing Gold Toilets.

Siam Cement makes a great one. Retailing for a measly $40,000 USD

The Chinese as some here sure do love Gold anything and Rhino horn

and let's not forget Gold Leafed Baby parts