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Financial crisis looms over Thailand
Oped, Chartchai Parasuk, Published on 25/01/2024
» The definition of an "economic crisis" is much debated in Thailand. This is because one of the requirements for enacting the emergency fiscal borrowing decree is that the economy must be in crisis.
Risk of global financial crisis spiking
Oped, Chartchai Parasuk, Published on 03/11/2022
» I am writing this article in Tokyo. Judging from my walks around the city during the past week, and despite the fact everyone is wearing face masks, it's like Covid has vanished. Subways and trains are jam-packed and shopping areas are full of people. However, the pandemic has left some scars. Many shops have gone under, including my favourite 50-year-old sushi restaurant.
Risk of financial crisis creeps ever closer
Oped, Chartchai Parasuk, Published on 06/02/2025
» When I started writing this article last week, I said to myself: "This might be another article no one will believe." Financial crisis? You must be out of your mind. The situation seems to be under control and it is likely to improve in 2025. After all, the Ministry of Finance has projected GDP growth for this year to be 2.5% to 3.5%, with a base case of 3.0%. No crisis can happen under such healthy growth, surely.
The lowdown on the 1997 financial crisis
Business, Phusadee Arunmas, Wichit Chantanusornsiri and Kanana Katharangsiporn, Published on 12/02/2024
» The 1997 Tom Yam Kung crisis was triggered by excessive loan extension by financial institutions and the liberalisation of the country's financial market, allowing Thai commercial banks to borrow money from foreign financial institutions to provide loans to businesses, says Sanan Angubolkul, chairman of the Thai Chamber of Commerce.
Are emerging markets ready for a financial crisis?
News, Satyajit Das, Published on 27/08/2018
» Over the past decade, a lot of capital has flowed into emerging markets thanks in part to excessive liquidity in advanced economies. This money has often found its way into risky or suspect investment structures. Should a crisis strike -- say, contagion from Turkey -- investors in these markets will be exposed to risks that they simply aren't prepared for.
2024 financial crisis may be a silent one
Oped, Chartchai Parasuk, Published on 04/04/2024
» When an economy faces a financial crisis, it can create a big bang like the mass collapse of financial institutions such as during the Great Depression of the 1930s, the Thai Tum Yum Kung crisis of 1997, the Japanese financial crisis in late 1997, and the US Hamburger crisis of 2008.
Crisis to crisis: What Asia learned from the financial chaos of 1997
Bloomberg News, Published on 02/07/2022
» Twenty-five years ago this month marked the beginning of economic, political and financial market turmoil that would become known as the Asian Financial Crisis. Currencies and stock markets tumbled. Governments were overthrown. Poverty rates soared.
Indonesia's economy contracts for first time since financial crisis
Reuters, Published on 05/08/2020
» JAKARTA: Indonesia's economy contracted for the first time in over two decades in the second quarter as efforts to contain the new coronavirus dealt a blow to consumer demand and business activity in Southeast Asia's largest economy.
Revolution and financial crisis will wrack US says Bannon
AFP, Published on 05/09/2018
» VENICE - America is heading for a revolution which will "cut like a scythe through grass", Donald Trump's former chief advisor Steve Bannon predicts in a revealing new film.
Is the IMF ready to weather another financial crisis?
News, Daniel Moss, Published on 04/10/2018
» Christine Lagarde and the International Monetary Fund have answered the easy question but dodged the hard ones. Yes, of course an era of tit-for-tat tariffs dims the global economic outlook. So what can the IMF do about it? Does it need more funding to protect the international economy, given the weakening scene?