Random Thoughts: Are things really that bad?

  • The media shifts very quickly in its headlines from Thailand booming to Thailand being in a recession to a potential repeat of 1997. This is nonsense as Thailand’s as well as most Emerging economies, have:

1. Increased their economic importance in the Global Economy

2. Foreign reserves in the late 90’s were only enough to withstand a few weeks of drawdowns as opposed to now Thailand, for example, has enough Foreign Reserves to survive 9-12 months of current account deficits before the alarms start sounding. I do wonder when the media will start to be accountable for their part in creating boom and busts…

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