HeartThais Posted February 6, 2009 Report Share Posted February 6, 2009 Compare? I know Thais who make B20k/mo yet have a new car with a payment of B12k/mo! Reminds me of me. When I graduated uni, I got a job making 36k/year and promptly went out and leased a BMW convertible. It didn't help as much with the girls as I thought it would. Anecdotal evidence aside, the conventional wisdom in finance is that Asians are savers (relatively). I would love to see evidence to the contrary. I took a cursory look at the BOT website and found this: http://www2.bot.or.th/statistics/BOTWEBSTAT.aspx?reportID=160&language=ENG It says that individuals make up 2trillion baht of total credits at commercial banks. GDP last year was 8.5T. In the UK on the other hand, total debt exceeds GDP. http://www.independent.co.uk/news/business/news/personal-debt-in-uk-exceeds-gdp-for-second-year-905461.html I just want to make it clear that I am not trying to be PC here and reflexively defend Thais. It's just that saying an Asian country is outborrowing westerners is far from conventional wisdom yet many people on here seem ready to accept it. Link to comment Share on other sites More sharing options...
.. Posted February 6, 2009 Report Share Posted February 6, 2009 I wouldn't say borrowing more than Westerners, but still borrowing at unhealthy levels. Cheers, SD Link to comment Share on other sites More sharing options...
HeartThais Posted February 6, 2009 Report Share Posted February 6, 2009 That's probably true. I'm sure that the per capita ownership of Louis Vutton bags is higher in Asia than in the US. Credit has obviously gotten out of hand... hahaha. understatement of the year. Link to comment Share on other sites More sharing options...
kamui Posted February 6, 2009 Report Share Posted February 6, 2009 That's probably true. I'm sure that the per capita ownership of Louis Vutton bags is higher in Asia than in the US. Credit has obviously gotten out of hand... hahaha. understatement of the year. Actually the per capita ownership of luxury designer goods by Japanese women is the highest in the world. But there is a special social reason for this: these women usually work, but are unmarried and live with their parents (no rent, e.g.). These women are called 'parasite women' and they are able to spend all their earnings on (shopping) trips to N.Y. and Paris and for LV and Hermes bags... Link to comment Share on other sites More sharing options...
shygye Posted February 6, 2009 Report Share Posted February 6, 2009 Many of the single Japanese men and women live with the parents because they can not afford Tokyo rents. Link to comment Share on other sites More sharing options...
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