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Brunolem

How about Vietnam?

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20 minutes ago, allanos said:

Not strictly true, because the USA, along with the rest of the world publishes its debt:gdp ratio, which is a more accurate barometer of a country's health.  At around 107, the USA is caught in a debt trap.  Anything over about 90 is simply not sustainable.  But America will simply print more dollars beyond the $21Tn that it has already printed, and the American people will simply become poorer, year on year.  Strike that last, USA debt is closer to $22Tn!

 

Take a look at debt clocks around the world: http://www.usdebtclock.org/world-debt-clock.html

And that's only the public debt, and that doesn't count the unfunded liabilities (retirement pensions, social security...).

 

As in many other countries, the real debt to GDP ratio is somewhere between 250 and 350%...again not counting the unfunded liabilities...

 

This is why most currencies appear to be stable relative to each other...because they shrink together, at more or less the same pace...

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9 minutes ago, moana said:

You can get 8% in Cambodia on USD term deposits. Even more on Riel deposits, if you're willing to take the currency risk (it's been pretty stable actually, but I still prefer to deposit in USD). Note that in Cambodia the interest gains are taxed at 6% (residents) or 14% (non-residents). In Vietnam they are tax exempt.

 

I opened a thread about this, a year or two ago, and was not able to find a member who would acknowedge having opened such an account in Cambodia, which led me to think that this was not really safe.

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And Thailand is in the grip of a military junta where the people have no rights at all.

Can't see the difference really, China and Vietnam appeared perfectly open and free to me, compared quite well to the tyrannical gynocracy that is the UK for freedom IMHO. Just different things you aren't allowed to do, I prefer the restrictions in Thailand/China/Vietnam to the restrictions in the UK.

Human rights in communist Vietnam is abysmal. Make the junta controlled thailand look like Disney land in comparison

 

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On 12/30/2018 at 8:07 PM, scorecard said:

Overall there is respect for the law, way ahead of Thailand.

The problem with that is that it takes forever to get anywhere by car on the highways because everyone seems content to go the speed limit... :coffee1:

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55 minutes ago, Brunolem said:

You are right, GDP is not a good indicator.

One could also argue that per capita GDP is higher in Thailand than in China, so obviously Thailand is more of a powerhouse than China...or maybe not...

Per capita GDP China $8,830. Per capita GDP Thailand $6593. Per capita GDP Vietnam $2343.  Per capita GDP Cambodia $1384.  UK $39,720.  Australia 53,799 Switzerland 80,189.  😁

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18 minutes ago, Brunolem said:

was not able to find a member who would acknowedge having opened such an account in Cambodia, which led me to think that this was not really safe.

Interesting way to determine safety... I wouldn't trust TV members when they do acknowledge threads, so even less so when they don't 😝

 

Cambodian banks and MFIs are forced to publish detailed, externally-audited financial reports annually/quarterly (usually audited by internationally recognized firms such as EY), which are available to download on their websites. You can download these reports and analyze them independently, if you like, and determine the resilience and "safety" of each organization. You can also ask the question in more Cambodian-focused forums.

 

Naturally there's also the risk of governmental destabilization, which is quite real in Cambodia (as in Thailand), but also has its mitigating factors (as in Thailand).

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35 minutes ago, marcusarelus said:

Per capita GDP China $8,830. Per capita GDP Thailand $6593. Per capita GDP Vietnam $2343.  Per capita GDP Cambodia $1384.  UK $39,720.  Australia 53,799 Switzerland 80,189.  😁

So what?

According to these GDP figures, Australia is six times "stronger" than China...and yet which of these two countries relies the most on the other to keep its economy humming?

 

 

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33 minutes ago, moana said:

Interesting way to determine safety... I wouldn't trust TV members when they do acknowledge threads, so even less so when they don't 😝

 

Cambodian banks and MFIs are forced to publish detailed, externally-audited financial reports annually/quarterly (usually audited by internationally recognized firms such as EY), which are available to download on their websites. You can download these reports and analyze them independently, if you like, and determine the resilience and "safety" of each organization. You can also ask the question in more Cambodian-focused forums.

 

Naturally there's also the risk of governmental destabilization, which is quite real in Cambodia (as in Thailand), but also has its mitigating factors (as in Thailand).

B2 vs BBB+  You can't really compare the two countries now can you?  Cambodia is highly speculative non investment grade.  On the come out roll a pass line bet has a 2 to 1 player advantage over the house.  I only mention that because if you want to put money into Cambodia maybe better to shoot dice. 

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4 hours ago, Brunolem said:

In these countries, freedom is curtailed openly, whereas in the West freedom is tolerated as long as long as it doesn't interfere with the grand scheme of things.

 

Come a Brexit or a Trump, and freedom becomes untolerable for the real powers, who are not the elected puppets.

 

There is talk of impeachment, of a new referendum, and of course of foreign interference because the sheep are not supposed to rebel.

es...there are limits to freedom after all...

 

 

I have always said we have the illusion of freedom in the west until it is challenged agains the rulers.  It is like a bad insurance policy that promises the world until it is time to collect.

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18 minutes ago, Brunolem said:

So what?

According to these GDP figures, Australia is six times "stronger" than China...and yet which of these two countries relies the most on the other to keep its economy humming?

According to the above figures the average Australian has 6 times as much money as the average Chinese.  GDP is used to measure the people's well being as well as economic activity per person. 

 

GDP per capita, by design an indicator of the total income generated by economic activity in a country, is often used as a measure of people’s material well-being. However, not all of this income necessarily ends up in the purse of households. Some may be appropriated by government to build up sovereign wealth funds or to pay off debts, some may be appropriated by firms to build up balance sheets, and yet some may be appropriated by parent companies abroad repatriating profits from their affiliates. At the same time, households can also receive income from abroad for example from dividends and interest receipts through investments abroad.

http://oecdinsights.org/2016/10/06/gdp-per-capita-households-material-well-being/

 

When debating economic well being of countries to say GDP per capita is irrelevant is just nuts. 

 

 

 

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On 12/31/2018 at 5:32 AM, Brunolem said:

You also have to take the trend into consideration, as well as wealth inequality. 

 

Thailand has a higher GDP, but sadly it's all in the hands of a lucky few families. 

 

As for the cars, the lesser the better... 

and in Thailand most of the cars are owned by the bank as well as anything else in value, very few own anything outright.

 

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36 minutes ago, losworld said:

I have always said we have the illusion of freedom in the west until it is challenged agains the rulers. 

As I said, try having a serious disagreement with your western wife and see what happens.

Broke and homeless.

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1 hour ago, madmen said:

Human rights in communist Vietnam is abysmal. Make the junta controlled thailand look like Disney land in comparison

 

 

OK, but keep in mind Vietnam is no longer an old style communist country, it's now a mix of selected civil society factors and capitalism.

 

Yes the government keeps up the thin mask of communism but it's nothing more than that, a thin mask.

 

Ask the people, they are happy with all of the above. 

 

 

 

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26 minutes ago, from the home of CC said:

and in Thailand most of the cars are owned by the bank as well as anything else in value, very few own anything outright.

 

Good point.

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1 hour ago, moana said:

Interesting way to determine safety... I wouldn't trust TV members when they do acknowledge threads, so even less so when they don't 😝

 

Cambodian banks and MFIs are forced to publish detailed, externally-audited financial reports annually/quarterly (usually audited by internationally recognized firms such as EY), which are available to download on their websites. You can download these reports and analyze them independently, if you like, and determine the resilience and "safety" of each organization. You can also ask the question in more Cambodian-focused forums.

 

Naturally there's also the risk of governmental destabilization, which is quite real in Cambodia (as in Thailand), but also has its mitigating factors (as in Thailand).

Interesting information.

 

Is it difficult for a foreigner to open a bank account in Vietnam and Cambodia to take advantage of those interest rates?

Are those accounts insured?

 

Have you looked into Laotian banks or those of other neighboring countries? Comparable interest rates in any?

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