Thailand facing economic headwinds – New Thai investment trust manager warns of problems facing south-east Asian country as it slips into recession – FT, October 18, 2013
…Adithep Vanabriksha said Thailand had experienced two consecutive quarters of negative growth this year meaning it fell into a technical recession for the first time since 2008.
He said the situation was not helped by a number of government initiatives that attempted to bolster the economy, including a farming initiative that pushed up the price of rice and a subsidy on cars that ended last year, meaning sales have slumped in 2013.
Meanwhile, the central bank dropped rates to weaken the Thai baht after it reached a 16-year high earlier in the year, but soon after the money started flowing out of emerging markets amid fears the US Federal Reserve would reduce support for its own economy…
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