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Thailand: a comparison [of economic policies of] two governments
Short background
Following elections held in November 1996, Chavalit Youngchaiyudh formed a coalition government and became Prime Minister. ... Thailand did borrow from Japan, to the cost of about 54 billion baht, under the Miyazawa Stimulation Package. ... By law, administered by the Bank of Thailand, banks have to make provisions to settle. ... Furthermore, there is excess food supply in Thailand. ... This programme will help to restore the economy and create domestic demand orientation, because up until now Thailand has relied too much on an outward orientation and has stressed export earnings. ... As the input-output tables in Thailand have proved,
one dollar of exports mean imports of at least eighty cents. Thailand does not have the foreign currency, and faces a long-term problem if there is too much reliance on foreign imported goods. ... Reviving the economy is the
big issue for Thailand, and working out how to foster and sustain growth in the medium
and long term. ... The future is very unstable and Thailand cannot rely on world
market fluctuations because the future cannot be predicted very easily. ... This should not lead to xenophobia as Thailand has passed that
phase already. But in order to be self-sustained, Thailand is economically ill right now
because external debt is not less than US$80 billion and the national debt is, by the IMF
definition, around 23 percent of GNP. ... Some bureaucrats argue that
lower interest rates will help revive the economy, but while that is true in a normal
situation because interests rates in Thailand are subject to unusual pressures, this is not
the case now.
Approximate Word count = 2672
Approximate Pages = 10.7
(250 words per page double spaced)
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