Vietnam - HCM (Thread 3)

[punt]

I cannot agree more. If the poor did not spend their money to buy international goods but only local stuff, why will they be affected by the devaluation?

I think devaluation actually help to boost their export.

Originally Posted by mutantchicken

yes but its the same poor who are buying stupid iphones that create the trade imbalance to justify the devaluation, its the really poor that i feel sorry for not the stupid poor ones earning 3mill.

[HeyB]

i checked bbbj shops in d7 in early evening and all shops were closed... these places used to stay open very late. some were still open at 2am. do they close early now?

[lambo_tan]

:d:d:d:d:d:d:d:d:d:d:d:d

[MIFAcafe]

If Viet gal can afford iPhone; they must have brothers like us supporting them.

No problem lah.

Originally Posted by mutantchicken

yes but its the same poor who are buying stupid iphones that create the trade imbalance to justify the devaluation, its the really poor that i feel sorry for not the stupid poor ones earning 3mill.

[MIFAcafe]

Found this picture hence a stupid question.

This cannot be real right?

[decent02]

Originally Posted by Hurricane88

Vietnam Devalues Dong for First Time Since December 2011

”

Paiseh Paiseh...have been paying the same LT rate for the past 3 years
It's time to give the WL a pay rise...

the middle working class okay ...still getting > 10% pay rise each year

[decent02]

Originally Posted by Singkieu

Just changed today around noon at my usual money changer on Dong Khoi near the Sheraton:

1 SGD = 16.950 VND

www.xe.com/ucc reference rate: 1 SGD = 16.812 VND

To me, no problem with VND devaluation, just so long as SGD and USD appreciates.

used to be my regular money changer until i found out the one inside cbt with better rates.

[Hurricane88]

By CHRIS BRUMMITT Associated Press
HANOI, Vietnam July 16, 2013 (AP)

McDonald's said Tuesday it will open its first burger restaurant in Vietnam after awarding the franchise to the son-in-law of the Communist-ruled nation's prime minister.

The fast-food chain is a relative latecomer to Vietnam where other Western consumer brands such as Starbucks, Subway and Pizza Hut have already opened stores.

Despite a slowdown in growth from torrid levels, Vietnam's youthful population is a strong lure for foreign companies.

It also represents the latest chapter in the march of McDonald's across the world, including to countries with which the United States shares a bloody history.

The company said it will open its first restaurant early next year in Ho Chi Minh city, where the US-backed government was based until it fell to Communist forces 38 years ago.

It will join Starbucks, which opened its first cafe in Ho Chi Minh City earlier this year, and other brands. Vietnam's rulers only began opening the country's economy to the world in the early 1990s. Foreign brands enjoy prestige among people keen to experiment with food and lifestyle choices unavailable to their parent's generation.

The company said it had chosen Henry Nguyen, a Vietnamese-American investor and the son-in-law of Vietnam's prime minister, as the main franchise partner based on a "rigorous" selection process. Nguyen was quoted as saying that a stint at McDonald's was one of his first jobs as a teenager in the United States.

"I have dreamed of one day opening a McDonald's restaurant in my native country ever since my return to Vietnam more than a decade ago," Nguyen said. "I have been in contact with McDonald's over the years sharing the opportunity that exists in our country."

McDonald's operates in more than 100 countries across the world, including 38 in Asia.

[Hurricane88]

Originally Posted by decent02

Paiseh Paiseh...have been paying the same LT rate for the past 3 years
It's time to give the WL a pay rise...

the middle working class okay ...still getting > 10% pay rise each year

dun spoil my playground...you pay more I dun pay more...how can......so both dun pay more...hehe...

[naemlo]

Originally Posted by punt

I think devaluation actually help to boost their export.

Devaluation has double edge sword. I do not think it will boost much cause most common currency use in trade is USD.

It will effect the common ppl,
Using a lame/laymen example, in petrol dollar imposed by big mafia of the world, importing petrol used to be USD 1 and sell at 21,000VND and now importing petrol is still USD 1 but need to sell 21,100VND. Unless importer willing to adsorb the different, else it will pass down to the consumers.... assuming oil value remains the same for the period. Again si beh lame example.

Anyway, we are not politician, we are cheongster.... whichever policy makes our cheonging easier is good policy.

[naemlo]

Originally Posted by Hurricane88

McDonald's said Tuesday it will open its first burger restaurant in Vietnam after awarding the franchise to the son-in-law of the Communist-ruled nation's prime minister.

Finally, they allowed junk food into Vietnam by big backing, PM....

[Hurricane88]

Originally Posted by naemlo

Devaluation has double edge sword. I do not think it will boost much cause most common currency use in trade is USD.

It will effect the common ppl,
Using a lame/laymen example, in petrol dollar imposed by big mafia of the world, importing petrol used to be USD 1 and sell at 21,000VND and now importing petrol is still USD 1 but need to sell 21,100VND. Unless importer willing to adsorb the different, else it will pass down to the consumers....

Anyway, we are not politician, we are cheongster.... whichever policy makes our cheonging easier is good policy.

what is the point of devalue Vietnam Dong by 1% when inflation is averaging 7.5%...


Inflation picks up in June

June 24, 2013

In June, consumer prices rose 0.05% over the previous month, which contrasted the 0.06% fall recorded in May. According to the General Statistics Office of Vietnam, higher prices for garment and footwear as well as for culture, entertainment and tourism offset lower prices for postal services and communications as well as for traffic.

As a result of the monthly increase, annual inflation rose from 6.4% in May to 6.7% in June. Despite the increase, annual average was unchanged at May’s 7.5%.

FocusEconomics Consensus Forecast panellists expect headline inflation to average 7.5% in 2013, which is down 0.3 percentage points from last month’s forecast. According to the panel, average inflation will accelerate to 7.8% in 2014.

[naemlo]

Originally Posted by Hurricane88

what is the point of devalue Vietnam Dong by 1% when inflation is averaging 7.5%...

I also felt my SGD shrinks when I visit Vietnam. Everything has went up significantly.... but I still go there for the mm.

[AtlasShrugged]

Originally Posted by Hurricane88

By CHRIS BRUMMITT Associated Press
HANOI, Vietnam July 16, 2013 (AP)

McDonald's said Tuesday it will open its first burger restaurant in Vietnam after awarding the franchise to the son-in-law of the Communist-ruled nation's prime minister.
......
McDonald's operates in more than 100 countries across the world, including 38 in Asia.

Will VN MM going to be fat like the americans in next decade....

[Hurricane88]

Originally Posted by AtlasShrugged

Will VN MM going to be fat like the americans in next decade....

Personally I dun think the Vietnamese will flock to MacDonalds...because Burger King and others are already there for many years...

There is already a few VBs getting out of shape since young...but many came from province still dep dep shape...so no worries lol...