The Nation reports that, “Supachai Panitchpakdi, former director-general of the World Trade Organisation, is wary of investments in Thailand by e-commerce giant Alibaba, warning that it could lead to monopoly.”
It would also be wise to monitor CP Group. How much of their profit do they put back into Thailand’s economy? I have seen their massive investments in Cambodia and now also in Malaysia.
Thais are realising that a brand or company you can trust in is a brand you go back to. Times are changing and Thailand can either embrace it or stick its head in the sand and regress furthermore.
Sorry, Mr Supachai, Thailand is not big enough to argue with Big Brother China. You will do as you are told or they will block your Chinese tourist industry.
William CF Pierce
Supachai is worried about Alibaba creating a monopoly. What about CP and all their monopolies? Thing is they are scared of competition. Bring it on, I say.
As others suggest, Thai authorities don’t seem to be concerned with the current monopolies. I wonder who is pushing this guy (Supachai) forward to make comments like this? Does he hold non-executive or adviser roles at any large local companies?
They’re justifiably nervous that online shopping may put the malls out of business. People go to the mall, get some Starbucks and free air-conditioning while they’re looking at the goodies they’re actually planning to buy online at half the price.
That’s especially disturbing with so much of Thailand’s economy being driven by real estate development, which employs so many people and adds to the elite’s wealth as their landholdings skyrocket in value. Killing off mall development in Thailand would be akin to killing off the internal combustion engine in an economy like the United States, where so much of it is dependent on burning petroleum products in gas-guzzling SUVs.
The Nation reports that Supachai “also called for the WTO and UNCTAD to create a code of conduct for giant digital technology companies like Google, Facebook, Apple and Alibaba, who, he feared, could potentially control the world economy”.
Too little too late. The major corporations spend billions on psychological manipulation – there is no country strong enough to stop this trend. The masses are addicted, and it’s good for capitalism – governments get their cut both legally and illegally. Even communist countries have succumbed. Once VR (virtual reality) is everywhere, people won’t care about what’s happening anyway.
Published : July 21, 2017