Bert Jones Posted July 23, 2019 Share Posted July 23, 2019 Demand for the Thai baht comes not only from tourists who obviously need it...but from foreign businesses, especially the Chinese who need billions of baht to buy further business footholds in Thailand. Once the steam comes out, the BoT will begin to sell off their huge foreign currency reserves...its a win - win for the wealthy Thais. Link to comment Share on other sites More sharing options...
Pib Posted July 23, 2019 Share Posted July 23, 2019 Quote The commerce ministry targets export growth of 3% this year, while the central bank has predicted zero increase amid rising global trade tensions. The govt always sets positive "targets, goals" each year....just like businesses. But targets/goals are just numbers to strive or hope for; has little relation to what the real world numbers turn out to be. Link to comment Share on other sites More sharing options...
puck2 Posted July 23, 2019 Share Posted July 23, 2019 On 7/19/2019 at 8:07 PM, bwpage3 said: Exports down 5%, tourism down, yet the baht remains strong as ever. What a farce! These facts are contradicting. Me too, I wondered why? One of the reasons will be the Western countries and China are troubled by trade war/deals. The big money in these countries is losing because the exchange rates are going down.. Therefore they are seeking safer havens. Thailand seems to be one of them. This would explain the contradiction. Link to comment Share on other sites More sharing options...
bwpage3 Posted July 25, 2019 Share Posted July 25, 2019 On 7/23/2019 at 1:10 AM, puck2 said: These facts are contradicting. Me too, I wondered why? One of the reasons will be the Western countries and China are troubled by trade war/deals. The big money in these countries is losing because the exchange rates are going down.. Therefore they are seeking safer havens. Thailand seems to be one of them. This would explain the contradiction. No that doesn't explain it. No one is making any new investment in Thailand despite Thailand trying to partner with China and Japan on high speed rail and other mega-projects. I suspect when the gov't states trade is down 5% it is probably much worse than that. Link to comment Share on other sites More sharing options...
BritManToo Posted July 25, 2019 Share Posted July 25, 2019 1 hour ago, bwpage3 said: No that doesn't explain it. No one is making any new investment in Thailand despite Thailand trying to partner with China and Japan on high speed rail and other mega-projects. I suspect when the gov't states trade is down 5% it is probably much worse than that. I know a Chinese guy that's currently buying a Thai house/land/business in CM for 80,000,000bht. Does that count as a new investment? Link to comment Share on other sites More sharing options...
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