Thailand in the New Asian Economy: The Current State and Way Forward
The ‘New Asian Economy’ is characterised by a rapidly rising role of China and India in the global economy along with further expansion of the already significant role of the Asian economies, e.g. Japan, Korea and Singapore, etc. with both positive and negative implications. This paper attempts to analyse the impacts of these global developments on Thailand and Thailand’s adjustments as well as impacts on the overall economy. Both macro and micro data are used within the context of existing policies as a groundwork towards identification of the appropriate ways forward. Various options are open to Thailand with substantial benefits as well as enormous costs on the Thai economy.
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