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    Thai business stories

    What to cut to reduce the price of baht?

    By DSuthikant, Created on: 25/04/2013, Last updated on: 01/07/2013

    » What to cut to reduce the price of baht? FTI: Private sector wants baht reined in Published: 25 Apr 2013 at 00.00Newspaper section: Business The private sector is urging the Bank of Thailand to address the baht appreciation with strong remedies including capital controls and an immediate one-percentage-point...

    • 1 replies, 23,624 views

    Thai business stories

    Signs that global recession are on the way

    By DSuthikant, Created on: 16/04/2013, Last updated on: 16/04/2013

    » Signs that global recession are on the way. According to BKP Business > News Asia stocks sink on China slow growth worries Published: 16 Apr 2013 at 12.41Online news: News. The signs Global stocks are on the downhill. Gold price has been dropping and dropping. According to BBK Business > News,...

    • 0 replies, 10,612 views

    Thai business stories

    Kudos to ACN

    By DSuthikant, Created on: 18/04/2013, Last updated on: 18/04/2013

    » I read the news article: Anti-Corruption crusader leading for a better Thailand published on April 18 2013 with the delightful surprise that the Anti-Corruption Network (ACN) is funded by private-sector groups. I think it’s great because business is being affected by corruption more than any other...

    • 0 replies, 11,034 views

    Thai business stories

    Yingluck, Kittirat and the rising baht

    By DSuthikant, Created on: 23/04/2013, Last updated on: 23/04/2013

    » Yingluck worried about strengthening baht Published: 23 Apr 2013 at 16.46Online news: News Prime Minister Yingluck Shinawatra on Tuesday expressed concern over the Thai currency's continuing appreciation amid predictions it could strengthen to around 27 baht to the US dollar. She had also directed...

    • 0 replies, 14,937 views

    Thai business stories

    How secure are banks in Thailand

    By med142, Created on: 31/01/2012, Last updated on: 01/01/2013

    » Well they are not secure at all. I can not belive how lax they are in security, its totally ludicrous and a joke. A well planned robbery would demonstrate this. It could net many millions in one day maybe even billions. I have been in the banks here, many times i see many thousands of thai baht maybe...

    • Asian Hand commented : The risk of a bank failure in Thailand is less than in EU or the US.

    • 3 replies, 26,002 views

    Thai business stories

    Choosing cheap Chinese Products over Thai jobs

    By needchange, Created on: 17/10/2010, Last updated on: 24/11/2015

    » Everyone knows the story of what has been happening in the US in terms of the trade deficit with China. If you go to Walmart, almost every product sold there comes from China. Walmart is America's biggest retailer if I'm correct. The trend is the same at many other retailers around the country. So...

    • drake commented : [quote="triptrip":2y69eueg][quote="prajna":2y69eueg]Unfortunately, Chinese-made merchandize is a synonym of products that are known for being shoddy, unsafe, toxic, prone to recalls, dangerous, faulty, tainted and poorly designed. .[/quote:2y69eueg] Not exactly true. The computer and keyboard you are using to type your comments are most likely Chinese made. It may be designed and developed in the US or somewhere but definately assembled in China. iphone, blackberry and what not top notch gadgetry we're using are all Chinese made. The Chinese certainly can have top quality stuffs if they want it. Look at the opening/closing ceremony of Olympics 2008.[/quote:2y69eueg] You are absolutely correct. The problem with "Made In China" is that too large a percentage of Chinese merchandises are simply JUNK because they didn't want to cut in to the profit margin for any reason. I've once been told by a certain Notebook mfg in Shanghai that they MUST deliver their notbook quota on time even if it blows up the first time the end-user turn it on and they really don't care what the root cause of the problem that they were having was as long as it passes the final test and they were able to give the test log to their US customer. While the US companies will look down their noses at 40% profit, Chinese companies generally are pleased to make any sales at all at break even (cash in hand, getting rid of their inventory, and pay the bills) and will be more than happy with anything over 5% margin. Quality merchandise also equates higher cost and potentially lower/slower sales volume. As such, they don't have a lot of incentive to make quality merchandise.

    • prajna commented : [quote="triptrip":1vvulnav][quote="prajna":1vvulnav]Unfortunately, Chinese-made merchandize is a synonym of products that are known for being shoddy, unsafe, toxic, prone to recalls, dangerous, faulty, tainted and poorly designed. .[/quote:1vvulnav] Not exactly true. The computer and keyboard you are using to type your comments are most likely Chinese made. It may be designed and developed in the US or somewhere but definately assembled in China. iphone, blackberry and what not top notch gadgetry we're using are all Chinese made. The Chinese certainly can have top quality stuffs if they want it. Look at the opening/closing ceremony of Olympics 2008.[/quote:1vvulnav] I'm guilty as charged for making the overgeneralizing statement. My point is that it's up to the importing countries to regulate and enforce safety standards of Chinese products. Another obvious example is toys. I just bought a couple of Chinese toys at 20 baht a pop at the stall in front of the big, busy shopping mall off Lad Praw Road. They didn't last more than a week. These toys will never pass through a U.S. port. Of course, they cost a lot more in Western countries and are of better quality for Western consumers. Sometimes you get what you pay for.

    • FredKubasa commented : I agree with all the commenters but also must note that over 90 US companies, in the last 5 years, have switched back to the US, manufacturing that, till now, was done overseas. Now some bicycles are actually made there and 2 other makers are gearing up to do the same. The US government is gearing up to offer other producers of many other foreign made items tax incentives to come back and hundreds are considering doing that. China's quality, questionable for many years, is actually improving and, in many areas is far superior to like goods made here in Thailand. They have some pretty tough compliance laws, some involving executions, so are working hard to excel ! Although rigid, execution is an effective way to swiftly improve quality control !

    • 48 replies, 211,938 views

    Thai business stories

    Money! The best of life? Are you agree?

    By thenook, Created on: 10/07/2010, Last updated on: 29/07/2010

    » [u:20rafwdu][b:20rafwdu]Money! The best of life?[/b:20rafwdu][/u:20rafwdu] “Money is the best of life.” This sentence may be make some people disagree since money cannot buy everything. Furthermore some people remain think that money leads to four essential requisites. In my view, I think money...

    • village_electrician commented : [quote="thenook":gxnjjerj][u:gxnjjerj][b:gxnjjerj]Money! The best of life?[/b:gxnjjerj][/u:gxnjjerj] “Money is the best of life.” This sentence may be make some people disagree since money cannot buy everything. Furthermore some people remain think that money leads to four essential requisites. In my view, I think money is the best of life. Firstly, from theorem, money is like as a medium of exchange. Everybody spend money for economic activities and if we don’t use it, living in present maybe slow for economic activities. But when you don’t have money, you cannot easily receive something that you require. Secondly, its value is used to determine the value of everything. Very essential and rare goods will be expensive. Moreover, price of products determined from not only capital but also creation. Last but not least, everyone works or casts lots for exchange money. Someone works hard because they want much money enough for expenses and debt. Besides, from US survey findings, most people -approximately 85%- receive it from work. In conclusion, as long as everybody has faith in money for economic activities, money is thing that people desire. What do you think about money?[/quote:gxnjjerj] Living on near dirt floor conditions eating fish head soup is a great life style,especially when the soles of your shoes has holes in them,money isn't good I must agree.dreaming of normality is the best way too live.

    • 5 replies, 17,291 views

    Thai business stories

    Baht too strong - urgently needs freedom to float

    By oldexplorer, Created on: 12/03/2009, Last updated on: 04/11/2015

    » As the massive Chinese economy begins a freefall descent in response to the Western financial collapse, the Abhisit government needs to assist Thai exports by allowing the Baht to float downwards. Keeping the Baht slavishly locked to the US Dollar is short-sighted, and will simply make Thai exports...

    • Ian commented : [quote="sabironlineus":eh82mznw]The Thai currency is likely to become weaker against the US dollar and could fall by as much as 5.6% by the end of 2009. A currency expert forecast the Thai Baht, which as of February 4 traded at 34.95 per dollar, will slide to 36 by the end of June, and 37 by the end of the year. The year 2008 saw the Thai currency plummet 15%, securing a third-worst spot amongst Asia's 10 most active currencies against the US dollar. Despite the Thai government's plan to spend billions of baht to spur growth, the political instability, which culminated in the closure of Bangkok's two international airports late last year, sent business sentiment to a record low. Thailand's current account will likely be in a deficit this year as overseas investment slows down, exports dry up, and the government's spending climbs through the roof.[/quote:eh82mznw] If I can add that British economic confidence today was at an 18 month high. Confidence is the first step towards recovery, it gets people spending again. Conversely Thai confidence seems to be steadily falling, even abhisit is having to predict a gloomy future. Villager, I am in similar dire straits, I struggle away with my three pensions, rents on properties and reduced income from my investments. I am even trying to cut down on my cigars, 3000 baht per week is perhaps excessive in these frugal times.

    • DKO commented : Maybe so Ian, But the GBP after an increase to 1.47 to the US $ 3 days ago continues its fall again 1.43 to the US $ dollar. Baht essentially mirrors the US $ ups and downs as you and other have previously said. These big daily fluctuations are driving me mad. It take me 3 ATM withdrawals to get my monthly pension out and by the time I get to day two the GBP has dropped again by 300- 400 Baht (what a waste). I've noticed another fluctuation. If you look at the markets when Asia is trading and partly into European trading the GBP (but not always) to be stronger. The US trading day starts and it invariably weakens and often quite a bit. I cannot help thinking there is serious manipulation and betting going on by over weakening the GBP. but I am no expert on these things or what or why the fluctuations.

    • 36 replies, 213,281 views

    Thai business stories

    Trend of economy in Thailand

    By Anonymous, Created on: 29/08/2007, Last updated on: 19/05/2012

    » Economy is to exchange currency or things depend on the agreement of conditions. Economy growth will depend on its factor. In my opinion, trend of economy in Thailand in the last half year may to expand. I have three reasons for supporting my idea. First, businessmen have more trust for investing...

    • hawaiiman commented : @rooster. I applaud your concern for the less fortunate! However, all is not lost out here in the sticks. World sugar prices have meant that cane growing farmers are assured of success. The best thing about all those rich and selfish people, is that they stay with all their hiso friends, far away from us in the remote villages. Most of the tragedy here as everywhere else is caused by misfortune rooted in poor choices. As to the trend,obviously growth forecast at over 6% is wonderful. Only problem is contagion from the mess in Europe, which is only just beginning. Greece is bankrupt, as are Spain, Portugal, and probably Italy. The US market is plummeting to 11,700. In the SET, everything but defensive issues is getting punched around right now. Doubtless over the next few months, there will be some buying opportunities. Not yet.

    • 4 replies, 17,624 views

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