People in shock. Effects on Cambodian economy.
- Sweet Lemon
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Re: People in shock. Effects on Cambodian economy.
Sounds pretty much the same that is happenning in europe and the states. A lot of headless chickens with no idea what to do next. Cambodia is not the only country in self denial but it has the advantage that it is undeveloped and many people can go back to the village and live off the land, an option not available to most peopel in the west. Economic catasrophe is coming but in some ways undeveloped economies may have an advantage over more developed ones this time
Re: People in shock. Effects on Cambodian economy.
The garment industry is already suffering following the decision to reintroduce tariffs due to the Prime Minister's human rights record, also even if summer fashions were available in Europe the stores are closed.
Re: People in shock. Effects on Cambodian economy.
Western nations will just pump endless amounts of freshly printed cash into the system and hope for the best. But they will do everything to keep the wheels rolling and to ensure the supply of food and vital items.pczz wrote: ↑Fri Mar 20, 2020 8:58 amSounds pretty much the same that is happenning in europe and the states. A lot of headless chickens with no idea what to do next. Cambodia is not the only country in self denial but it has the advantage that it is undeveloped and many people can go back to the village and live off the land, an option not available to most peopel in the west. Economic catasrophe is coming but in some ways undeveloped economies may have an advantage over more developed ones this time
They will also be the first to benefit from a therapy and, perhaps, vaccine.
No one, however, will give a fark about countries like Cambodia. Hunger could become a massive problem.
You also need to consider that all those thousands leaving back home to their villages to “ride it out” are leaving behind rooms that won’t pay rent for their owners, and vacate an enormous portion of consumer demand in the cites.
Many seem to think that they will be back after KNY and things will be ok again but that looks very unlikely.
- Duncan
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Re: People in shock. Effects on Cambodian economy.
Maybe reducing the Riel to USA $ exchange rate may help . But turning the page, there are also advantages in making the Riel stronger.
Let's go through the possibilities of .
USA $1 = 3,500 r
or
USA $1 = 4,500 r
Let's go through the possibilities of .
USA $1 = 3,500 r
or
USA $1 = 4,500 r
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Re: People in shock. Effects on Cambodian economy.
that would make the maths a bbit too complicated at 3500r 25 cents would be 875 riel, at 4500 r 25 cents would be 1125 r. Bit messy with change. whatever the exchange rate is in its normal range of 3900-4200 khmer tend to apply 4000 because the maths is easy.if there was a new 50r note then either 4000 or 5000 would work.
- SternAAlbifrons
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Re: People in shock. Effects on Cambodian economy.
No quick fix to the economic damage this is causing - worldwide.
I reckon the economists will be referring to BCv and ACv for a long time to come.
we have entered a new epoch
I reckon the economists will be referring to BCv and ACv for a long time to come.
we have entered a new epoch
- Bitte_Kein_Lexus
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Re: People in shock. Effects on Cambodian economy.
A recession was due either way, so this is just the catalyst. There's no point excessively worrying about it since it's out of your control, so I'm not sure why you'd lose sleep over it all.
Ex Bitteeinbit/LexusSchmexus
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Re: People in shock. Effects on Cambodian economy.
Bring it on. I haven’t been this content in years.
- General Mackevili
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Re: People in shock. Effects on Cambodian economy.
I'm in the 'things will be back to normal in a few months' camp, but I have been cursed with optimism my whole life. I might be wrong, but the fuck if I'd rather close down every world economy and stay home for a year rather than take a 1 in a 100 chance of dropping dead.
Would there really be one person left on the planet who smoked cigarettes if the thought of 8,000,000 people a year needlessly dying was just unthinkable? 500,000 people die from the regular old flu every year, yet life goes on and hardly anyone freaks out of thinks about it every day.
I'm not trying to minimize how bad COVID-19 is, because it's fucking horrible, but are people rationally as worried about it to the same level of statistics as other factors that can increase your mortality rate?
Let's say even 5 out of 100 die from catching COVID-19. By shutting down entire economies could mean no money for many families, and people buy food with money. 100% of people without food die, so I don't think it's as simple as 'holy shit, we have to do WHATEVER we can to stop Coronavirus!'
I have no doubt some of this will be taken out of context, I'm just pointing out that people are in a frenzy and thinking the most important thing in the entire universe right now is stopping the spread of Coronavirus at all costs, but we shouldn't neglect the importance of other factors of life as well.
Dr. Michael Morbius: How far are we allowed to go to fix something that’s broken?
Morbius’s Mentor: Until the remedy is worse than the disease.
Would there really be one person left on the planet who smoked cigarettes if the thought of 8,000,000 people a year needlessly dying was just unthinkable? 500,000 people die from the regular old flu every year, yet life goes on and hardly anyone freaks out of thinks about it every day.
I'm not trying to minimize how bad COVID-19 is, because it's fucking horrible, but are people rationally as worried about it to the same level of statistics as other factors that can increase your mortality rate?
Let's say even 5 out of 100 die from catching COVID-19. By shutting down entire economies could mean no money for many families, and people buy food with money. 100% of people without food die, so I don't think it's as simple as 'holy shit, we have to do WHATEVER we can to stop Coronavirus!'
I have no doubt some of this will be taken out of context, I'm just pointing out that people are in a frenzy and thinking the most important thing in the entire universe right now is stopping the spread of Coronavirus at all costs, but we shouldn't neglect the importance of other factors of life as well.
Dr. Michael Morbius: How far are we allowed to go to fix something that’s broken?
Morbius’s Mentor: Until the remedy is worse than the disease.
"Life is too important to take seriously."
"Life does not cease to be funny when people die any more than it ceases to be serious when people laugh."
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