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Go to Soi 2 now and apart from DJ, its all upmarket dance club style bars where affluent young Thais hang out, who have no interest in farangs.
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I think there is more to this observation than meets the eye, as it were. In many Asian countries where there were social stigmas attached to being gay, it used to be very common for young chinese, japanese, thais etc. to seek out foreigners both for sex and relationships. 25 years ago, foreigner/local partnerships were virtually the norm - especially in Japan. This was far easier than forming relationships with their own countrymen - and of course there were some economic benefits along the line. But I have noticed that as each society has gradually became more affluent (and also more accepting of gays), so younger guys started to seek out other chinese, japanese etc., rather than foreigners. It's only natural, I guess, but maybe it's another reason why we look back on the 'old days' with such nostalgia.