Thailand is being colonized by foreign investors

[daydreamer]

"Colonized" refers to a territory, people, or place that has been taken over, settled, or subjected to control by a foreign nation, often through political, economic, or physical force.

Thais are proud to say that their country is the only one in Southeast Asia that was never colonized.  Unfortunately, it is being colonized today, not through battles with a foreign power, but by a shrewd and ruthless economic takeover by Chinese investors.  

We first heard of "zero dollar tours" being conducted in Thailand about 25 years ago, completely organized and run by Chinese companies, with the profits going to China, and not benefiting Thai owned businesses with even one baht per visitor.  

Now Chinese investors through Thai nominees have destroyed Thailand's coconut industry.

The following excellent video from The Nation Thailand explains how Chinese are using Thai nominees to skirt Thai business laws, allowing foreign companies to force Thai owned ventures out of business, and then swoop in and purchase the assets for pennies on the dollar. 

 

[Although not specifically a gay topic, many of our forum members who live in or visit Thailand will likely find this video interesting, so I included in the gay Thailand forum.]

 

[mima_bk]

It is interesting, but i think it would rather belong to the beer bar. but anyway. china is expanding it's influence all over south east asia. laos is basically a chinese vasall state. thailand may be moving slow on this, but they are moving steady. so it will repell this, as they did with chinese zero dollar tours. and they will eventually deal with indians sleeping on the beach in pattaya.

[PeterRS]

Let's note that it is not all one-way traffic - at least not yet. Yes, China is expanding its influence not only in Thailand but in most parts of the world. According to an article in The Nation in September 2024, though, from January to June that year Chinese nationals purchased 39.5% of all condo units transferred to foreigners in Bangkok. This represented 40.1% of the value of condo units sold. It did represent a downturn since in 2020 when the percentage of units transferred to Chinese owners was 61% according to the Bangkok Post. But then 2024 was when covid was slowly winding down. Bangkok developers made a considerable amount after building very small condo units of around 25-35 sq.m. This enabled Chinese to use the funds they could export annually from China by parking it in what was regarded as a safer country.

The less good news for Thailand is that the Chinese are becoming fed up of Thailand as their preferred foreign tourist destination. It is now being overtaken by countries like Vietnam and South Korea. But the bureaucracy and paperwork make purchasing condos in those countries more complicated. So Thai developers with their tiny apartments may well find continuuing sales to Chinese.

Let's also not forget that China is now one of the biggest investors in Thailand along with Japan. This graph from CEIC illustrates the level of Chinese investment in the country in the last reported 12 years -

https://www.nationthailand.com/business/property/40041666

https://www.bangkokpost.com/property/2997234/chinese-condo-purchases-likely-depressed-this-year

[daydreamer]

Certainly China is one of the largest investors in Thailand, and it looks like Thailand is coming to the realization that some of that investment is to the detriment of Thai businesses, such as the coconut industry, highlighted in the video.  Investing is one thing, but monopolizing entire industries through ruthless and unethical tactics is another issue, not unlike the robber barons that operated in the US during the late 19th century.

One positive action was taken this past January 1st, when Thailand imposed a 10% duty on all imports valued at 1,500 baht or less, as Chinese companies such as Temu and Alibaba were squeezing small Thai companies, to the point they could no longer compete with the cheap imports that were flooding into the country.  

The Thai government is pushing back in some areas, but for some like the coconut farmers and processors, it looks like too little, too late.

[Keithambrose]

14 hours ago, mima_bk said:

It is interesting, but i think it would rather belong to the beer bar. but anyway. china is expanding it's influence all over south east asia. laos is basically a chinese vasall state. thailand may be moving slow on this, but they are moving steady. so it will repell this, as they did with chinese zero dollar tours. and they will eventually deal with indians sleeping on the beach in pattaya.

When I was in Siem Reap,  travelling to the new, ludicrous, airport, built with Chinese money, the area even given a Chinese name, my driver said, "we are part of China  now". It was not a compliment!