Booming along the backwater
Article Abstract:
Thailand is poised to become of the largest economies in the world. The kingdom's remarkable economic performance in recent years has the World Bank and 'The Economist' predicting that the Thai economy could become the world's eighth biggest by the year 2020. The country's transformation from a 'sleepy backwater' into one of the most dynamic economies in Asia began in the the 1980s when Japanese companies started to relocate to other parts of the region because of the high yen. The presence of the Japanese, supported by the government's subsidized credit for exports, helped bolster manufacturing exports and the economy as a whole. Growth was further fuelled by the government's decision to eliminate tariff barriers and trade controls, introduce value-added tax, and reform corporate taxation. These have all helped attract massive volumes of foreign investment into Thailand.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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Is the boom over?
Article Abstract:
The recent slowdown in the growth of southeast Asian economies is prompting a reconsideration of the investment opportunities still to be had in the region. In 1996, Singapore, Malaysia and Thailand all posted lower GDP rates as a result of sharp drops in exports. The economic downturn in Indonesia was not too severe, but renewed political conflicts have caused some concern. The Philippines was the only country to experience accelerated economic growth as a result of reforms. However, despite southeast Asia's generally unimpressive performance in 1996, there are no indications that the region will not be able to rebound after the current downturn passes. All the basic factors that have brought about the Asian success are still there, including sound fiscal and monetary policies, high savings and investment rates, and an aversion to large exchange rate misalignments.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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Thai break
Article Abstract:
Thailand is one of the biggest casualties of the economic crisis that has spread throughout east Asia. Its annual GDP growth rates averaged 8% from 1986 to 1996, making the country one of the fastest growing economies in the world. However, financial turbulence has slowed down economic growth to just 0.7% in 1997 and is expected to result in negative growth of around 3% in 1998. The collapse of the Thai economy, which can be attributed to poor business practices and inadequate financial supervision, has led to increased business failures and indebtedness, higher unemployment and a severely devalued currency. While foreign investors used to consider Thailand a favorite market, they are now staying away even though the baht has grown much cheaper. Despite this, the country's economic environment is showing some improvement.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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