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Despite a weekslong multinational crackdown, scam centers along the Thai-Myanmar border are still operating with up to 100,000 people working there, the top police general leading Thailand’s operations against the fraud compounds told Reuters. Thailand is fronting a regional effort to dismantle scam centers along its borders, which are part of a Southeast Asian network of illegal facilities that generate billions of dollars every year, often using people trafficked there by criminal gangs, according to the United Nations. Based on early assessments of some of the 5,000 people pulled out of sprawling scam hubs in Myanmar’s Myawaddy area, hundreds went there voluntarily, said Police General Thatchai Pitaneelaboot, calling for careful investigations among nationals of over a dozen countries to winnow out criminals. “Many people use Thailand as a pathway to sneak themselves into Myawaddy to find work, and this is not just the call center gangs but also online gambling work and other professions,” Thatchai said in an interview. His comments run counter to widespread reports that scam center workers in and around Myawaddy were victims, lured to go there by criminal bosses. Jason Tower, an analyst with the U.S. Institute of Peace and an expert on regional scam centers, said that many people who willingly travelled to areas such as Myawaddy were trapped in conducting scamming operations. “Many did go in willingly, only discovering that they had been trafficked later,” he said. Several former scam workers describe being trapped in the compounds, where they were forced to trick strangers online into transferring large amounts of money, often pretending to be romantic interests. Although these scam centers have operated for years, they came under renewed scrutiny following the abduction of a Chinese actor Wang Xing in Thailand in January, who was later rescued from Myawaddy. The incident sparked a social media firestorm in China, and Beijing dispatched officials to Thailand to coordinate operations targeted at breaking up scam hubs like Myawaddy and rescuing scores of its citizens, many of whom now have been flown home. “Since the Wang Xing case, there were 3,600 foreigners who travelled Mae Sot, and we did not find one who was tricked or coerced to come,” Thatchai said, citing information gathered by police checkpoints set up in the Thai district bordering Myawaddy. Among some 260 people from 20 nationalities who were sent from Myawaddy to Thailand in February as the crackdown gathered steam, most were not coerced, according to initial investigations conducted by Thai authorities, Thatchai said. “These people went there voluntarily,” Thatchai said, adding that he is waiting on information from countries including China and India that have repatriated hundreds of their nationals on whether they had been trafficked to scam centers in Myawaddy. MULTINATIONAL COORDINATION Thatchai said the crackdown so far has only affected a fraction of the vast operations in Myawaddy, which lies across a narrow river from the Thai town of Mae Sot. “It could be up to 50,000 or 100,000 people that are still left because we are still seeing their operations,” he said, based on Thai police intelligence as well as information gathered by Chinese authorities, who have identified at least 3,700 criminals continuing to operate in the area. Since February, more than 5,200 people have been extricated from scamming facilities in and around Myawaddy, according to Thai police citing Myanmar authorities. Over 3,500 have been sent back to their home countries via Thailand, which has also cut off electricity, internet, and fuel supplies to the area. With scam workers hailing from a wide range of countries, Thatchai said he is pushing for a multinational coordination center to repatriate, investigate, and share information to prosecute criminals involved in the fraud operations. Suspected criminals extricated from Myawaddy and other scam hubs should be prosecuted in their home countries, and the Thai police are ready to help wherever necessary, Thatchai said. The main focus of Thai authorities currently is to help coordinate the return of scam center victims to their home countries, with thousands of former workers still stuck in limbo on the Thai-Myanmar border, including some who are struggling to find their way back because of a lack of funds. “We have to discharge people as quickly as possible,” Thatchai said. “So that the Myanmar authorities and ethnic armed groups can conduct more crackdowns.” Panu Wongcha-um and Panarat Thepgumpanat, Reuters
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E-Commerce
Its been another bad week for Tesla shares so far. After closing down again yesterday, as of the time of this writing, TSLA shares are down over 5% in early morning trading on Tuesday. The stocks decline this week comes after the company shed nearly 15% of its value in a single day last week. Much of Teslas recent stock declines have been attributed to the public souring of the company as its CEO, Elon Musk, has become increasingly involved in politics in both America and Europe. Since Musks political engagements, including his role in the Department of Government Efficiency (DOGE) in the United States and his support of the far-right party Alternative for Germany (AfD) in the EU, Tesla sales have slumped in several markets. While todays decline could be a continuation of the worry over the brands declining image in the eyes of consumers, there are also three other possible reasons why TSLA shares may be heading lower today. Chinese rival BYD unveils new charging technology China is Teslas largest market outside of the United States. But the electric vehicle maker faces stiffer competition there than it does at home. And Teslas lead rival in ChinaBYDhas now announced a new charging platform that makes Tesla’s superchargers look archaic. As CNBC reports, BYD has announced its Super e-Platform charging technology, which the company says can deliver peak charging speeds of 1,000 kilowatts, allowing a car to be charged up enough to go about 249 miles (400 kilometers) in just five minutes of charging. To put that into perspective, Teslas Superchargers have a peak charging rate of just 500 kilowatts. It takes 15 minutes for a Supercharger to give a vehicle enough range to travel around 168 miles (about 270 kilometers). If BYDs claims hold, the companys Super e-Platform will be a serious blow to Tesla and its Superchargers. It could be enough to make many in China opt for a BYD over a Tesla. If they do, Tesla sales in the country could continue to decline. Cybertruck quality concerns Another issue that may be negatively impacting Tesla stock this week is reports on social media that the companys beleaguered Cybertrucks have yet another problem. As GuruFocus reports, videos of Cybertrucks have gone viral on social media recently, showing that the vehicle’s metal panels seem to be detaching. The worry is that if these quality issues are not addressed, it could affect sales of the vehicle. Tesla gets lower price target Finally, on Tuesday, RBC Capital Marketsa traditional Tesla bullrevised its price target on TSLA. While RBC still maintains a buy rating on the stock, the firm lowered its price target on TSLA shares from $440 to $320, reports MarketWatch. RBC said it made its revision after it slashed its estimate for what Tesla will charge each month for its self-driving car software. RBC had originally thought Tesla would charge $100 a month, but now thinks a $50 price is more likely. The firm also cut its projection for Teslas share of the robotaxi market in Europe and China. It had expected around a 20% share of the markets there, but now says it expects Tesla to have a 10% share. Tesla shares are down 44% year-to-date As of the time of this writing, TSLA shares are currently down another 5.81% in early market trading to $224.19 per share. That means Tesla shares have now fallen over 44% since the beginning of 2025. Tesla shares peaked in December at over $488 apiece. While Tesla shares have crashed in 2025, they are still up about 29% over the past 12 months.
Category:
E-Commerce
Overdue loans and mounting interest payments often weigh on Montana barley grower Mitch Konen as he bales hay and loads trailers at his remote farm overlooking the snow-capped Rocky Mountains. As spring sunshine warms the fields, Konen, 65, and other barley farmers worry tariffs will take away crucial export markets and increase the cost to grow the grains, even as sinking U.S. beer consumption has slashed demand for barley. “Down here on the farm were already stretched pretty thin financially,” said Konen, who is also vice president of the National Barley Growers Association. “It makes us wonder whether or not we can even stay in business.” Roughly half of Konen’s barley is destined for Mexico, where it will be turned into beer. Some will be shipped back to the U.S. in bottles of Modelo, Corona, and Pacifico. Mexico is the third largest importer of U.S. barley and the biggest importer of U.S. malt, made from germinating kernels of barley and a key ingredient in beer. If Mexico issues tariffs in retaliation or switches to buying barley from other trading partners, experts say it could deal another economic blow to American farmers as U.S. consumers increasingly ditch beer. Canada, the largest importer of U.S. malt barley, issued tariffs against U.S. barley and other agricultural goods that went into effect on March 4. Frayne Olson, crop economist at North Dakota State University, said farmers are worried that tariffs could decimate U.S. barley exports to Canada. U.S. President Donald Trump has said his back-and-forth tariffs against major trading partners are intended to curb the flow of illegal drugs and migrants into the U.S., and has downplayed the market impacts for U.S. companies and consumers. “The people who pay for tariffs are the farmers,” said barley farmer Steve Sheffels, vice president of the Montana Grain Growers Association. “We grow way more barley than we can possibly consume, so if those markets go away, then farmers are going to be competing for a much more limited number of buyers.” Costs for fertilizer, which is mostly sourced from Canada, will rise with tariffs. Prices for imported crop chemicals from China have already risen because of tariffs that took effect on February 4. “There’s a sinking feeling and a feeling of dread that things are bad, and things are going to stay bad for a while,” Sheffels said. “We are scared almost to death about tariffs.” A SLOW DECLINE Beer consumption in the U.S. has been sliding and in 2024 it hit its lowest level in over 40 years as more Americans chose other alcoholic beverages, said Bart Watson, chief economist at the Brewers Association. Recently, hard seltzer drinks and canned cocktails have posed particularly bruising competition to beer. Others are giving up alcohol altogether. Gen Zers and millennials are drinking less than most previous generations, according to a 2024 Gallup poll. In January, former U.S. Surgeon General Vivek Murthy called for cancer warnings on alcoholic drinks. Multiple high-profile studies have stated no amount of alcohol is safe to drink. Watson believes major beer companies such as Anheuser-Busch, maker of Bud Light and Michelob Ultra, may keep prices steady to preserve market share and maintain sales volume. Craft breweries may be less able to absorb higher costs and are likely to raise prices, he said. The 25% tariffs the White House has slapped on metals will likely hike the costs brewers pay for kegs and cans, which are often made from steel and aluminum imported from Canada. The price of a bottle of Corona or Modelo, both produced in Mexico, may be more likely to spike if U.S. malt is subject to tariffs by Mexico as it heads south and the finished beer is slapped with tariffs again as it is shipped north. “Breweries are going to have to choose to pass this along or choose to eat it,” Watson said. “It will have an impact.” Heather Schlitz, Reuters
Category:
E-Commerce
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