by Don-Pierre de Plume » Tue Apr 26, 2016 4:35 pm
bitcambodia wrote:Lucky Lucan wrote:Here, I'd like to go into a bit greater detail on the general cost of living in Phnom Penh, Cambodia, one of the most efficient markets in the world.
Don-Pierre de Plume wrote:
Yeah... credit card transactions in stores don't work.
The only people using credit cards for retail purchases in Cambodia are tourists and temporary residents, so the demand is not strong enough to warrant the sort of investment that would bring the efficiency that you expect. In the same way, for example, the market for wealth management is small in Cambodia and can be expected to be inferior to the west.
But in terms of the real economy in Cambodia, the market mechanism is far superior to that in western economies for the reasons I discuss in the 2 articles and support with about 20 examples.
You have a point, BUT... it used to work.
And if the merchant accepts signature transactions, it's fine. Some do, some don't. Fucked up system all around.
[quote="bitcambodia"][quote="Lucky Lucan"][quote]Here, I'd like to go into a bit greater detail on the general cost of living in Phnom Penh, Cambodia, one of the [b]most efficient markets in the world[/b]. [/quote][/quote]
[quote="Don-Pierre de Plume"]:lol:
Yeah... credit card transactions in stores don't work.[/quote]
The only people using credit cards for retail purchases in Cambodia are tourists and temporary residents, so the demand is not strong enough to warrant the sort of investment that would bring the efficiency that you expect. In the same way, for example, the market for wealth management is small in Cambodia and can be expected to be inferior to the west.
But in terms of the real economy in Cambodia, the market mechanism is far superior to that in western economies for the reasons I discuss in the 2 articles and support with about 20 examples.[/quote]
You have a point, BUT... it used to work.
And if the merchant accepts signature transactions, it's fine. Some do, some don't. Fucked up system all around.