Cambodian Recession 2020/2021 ?
The Khmer people better all burn incense and pray that Trump is reelected or they are totally screwed...
As you say growth. Growth is growth. Short term long term.Felgerkarb wrote: ↑Mon Jul 20, 2020 12:58 pmThat is growth, but it is not sustainable growth. The economy needs to create its own wealth, not process overseas money. This is the same as the NGO problem, pumping in money, feeding the Bentley crowd, but not building up a stable foundation.0123456789 wrote: ↑Mon Jul 20, 2020 10:34 amI dunno. I reckon Cambodia will boom after this COVID. The Chinese still have $$$$$$ to invest and launder.
I’m going to bet 2021 will be a boom year for both investments and tourists from China.
Chinese money, NGOs, EU/US handouts. It’s all a stepping stone to a ‘democratic’ fiscal system. Maybe not in yours or my lifetime but it will happen.
Recession is recession no matter how you twist it. I don’t think Cambodia will enter one because of what I’ve said.
It’ll be another 15/20 years before Cambodia stands on its own two feet.
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Hope you are right that Cambodia will not go into recession. Ah, how I wish I could predict/see the future.
Yep. I would have bought shit loads of land in SHV!techietraveller84 wrote: ↑Wed Jul 22, 2020 2:50 amHope you are right that Cambodia will not go into recession. Ah, how I wish I could predict/see the future.
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If you believe capitalism operates on a Dawinism principle, in a way Covid-19 could be a good thing for the global economy.
Debt hasnt really gone down since the 2008 financial crisis. Businesses just borrowed more, and zombie companies kept trading because banks didnt want to take the hit of all those losses.
Now alot of those zombie companies have been surviving on government handouts, rather than financed by banks.
How easy is it to get a mortgage these days?
How many of the masses of bars on Riverside are actually making a good living?
With Covid19, maybe the inevitible shock to the financial system can be controlled. Now everything can be controlled with fear.
The whole god damn global economy needs a good clear out.
Covid19, the ultimate colon cleanser.
Ray Dalio predicted helicopter money coming after QE , and ZIRP.
Well it's kinda here with Covid19.
Debt hasnt really gone down since the 2008 financial crisis. Businesses just borrowed more, and zombie companies kept trading because banks didnt want to take the hit of all those losses.
Now alot of those zombie companies have been surviving on government handouts, rather than financed by banks.
How easy is it to get a mortgage these days?
How many of the masses of bars on Riverside are actually making a good living?
With Covid19, maybe the inevitible shock to the financial system can be controlled. Now everything can be controlled with fear.
The whole god damn global economy needs a good clear out.
Covid19, the ultimate colon cleanser.
Ray Dalio predicted helicopter money coming after QE , and ZIRP.
Well it's kinda here with Covid19.
"I don't care what the people are thinking, i ain't drunk i'm just drinking"
We're surely at the edge of the envelope of what is possible in terms of pumping up this fake economy, the world I mean, not Cambodia specifically. Throwing money out of helicopters always ends up pumping up asset prices, ie wealth transfer making the rich richer. The plebs will be rolling out the guillotines in some places eventually.
Also how much debt can feasibly be added to national balance sheets to do this before there is a systemic collapse of some kind. A lot of countries are already in deep shit, Western countries and poor countries. China will be there to step in, relatively unfettered by market forces. China's emergence as world leader has been brought forward by a decade or 2 by covid.
Also how much debt can feasibly be added to national balance sheets to do this before there is a systemic collapse of some kind. A lot of countries are already in deep shit, Western countries and poor countries. China will be there to step in, relatively unfettered by market forces. China's emergence as world leader has been brought forward by a decade or 2 by covid.
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They escaped the worst of COVID-19. Now Cambodians face a debt crisis
(Garment workers hold portraits of Prime Minister Hun Sen and his wife, Bun Rany, at a July protest, saying they’ve been denied benefits since their factory closed.(Heng Sinith / Associated Press)
By CHARLES MCDERMID, KEA PAV
AUG. 7, 20209:50 AM
"Cambodians are entangled in a microfinance system that was intended to alleviate poverty after decades of war, genocide and political turmoil; providing small loans to people without adequate access to formal banking services.
But unlike other countries where microfinance lending is run by charities or subsidized by the government, Cambodia’s sprawling system is for-profit and privately run, charging interest rates as high as 18% and — with virtually no cap on how much a borrower can take out — many loans that aren’t “micro” at all, reaching into the tens of thousands of dollars."
Full Article:
https://www.latimes.com/world-nation/st ... n-cambodia
(Garment workers hold portraits of Prime Minister Hun Sen and his wife, Bun Rany, at a July protest, saying they’ve been denied benefits since their factory closed.(Heng Sinith / Associated Press)
By CHARLES MCDERMID, KEA PAV
AUG. 7, 20209:50 AM
"Cambodians are entangled in a microfinance system that was intended to alleviate poverty after decades of war, genocide and political turmoil; providing small loans to people without adequate access to formal banking services.
But unlike other countries where microfinance lending is run by charities or subsidized by the government, Cambodia’s sprawling system is for-profit and privately run, charging interest rates as high as 18% and — with virtually no cap on how much a borrower can take out — many loans that aren’t “micro” at all, reaching into the tens of thousands of dollars."
Full Article:
https://www.latimes.com/world-nation/st ... n-cambodia
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Cambodians should prefer Democrats, with them 3rd WW if any would start in the Middle East while Trump will start one on their doorstep for sure.Bob's friend bob wrote: ↑Mon Jul 20, 2020 3:20 pmThe Khmer people better all burn incense and pray that Trump is reelected or they are totally screwed...
they do. they're easy to hustle.
Cambodians should prefer Democrats, ...
Wishfull thinking, there's no reality post covid economy collapse that XI let's his citizens spend outside of china. I mean who on Earth would? Rebuilding a foreign and sovereign nation while your own in the gutter? Behave they aren't that stupid. Chinese yen will be spent in china0123456789 wrote: ↑Mon Jul 20, 2020 10:34 amI dunno. I reckon Cambodia will boom after this COVID. The Chinese still have $$$$$$ to invest and launder.
I’m going to bet 2021 will be a boom year for both investments and tourists from China.
It's a cycle, after the the collapse comes growth. The steeper the collapse the steeper the potential growth. China is using is deliberately using this covid problem to strengthen its grip on the world, I think they will see a financial collapse as a mere buying opportunity in countries such as Cambodia.Guest wrote: ↑Mon Aug 10, 2020 9:56 pmthere's no reality post covid economy collapse that XI let's his citizens spend outside of china. I mean who on Earth would? Rebuilding a foreign and sovereign nation while your own in the gutter? Behave they aren't that stupid. Chinese yen will be spent in china
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