Sharpest decline in Thailand economy since records began

http://news.bbc.co.uk/1/hi/business/7905411.stm

[Dick]

http://news.bbc.co.uk/1/hi/business/7905411.stm

So how come our falang exchange rates are so pitifully low against the Baht?
If our low exchange rates are a totem that our Western economies are in even greater decline, then surely Thailand deserves a pat on the back for inhibiting the slump that is affecting the rest of us... and that's despite the trade disaster occasioned by the airport sit-in last November.

[RonanTheBarbarian]

I think the main reason the baht is slow to decline is that Thailand is behind in the recession curve than the US or the UK or Europe. The collapse only began in earnest in Thailand in the last month or two of 2008.

Places like Thailand, Singapore, Malaysia etc. will do comparatively worse than the US or UK over the next 12 months, i think.

Also, with the currency issue, be aware that you are looking at it from a British perspective, Dick.

If you compare the baht to two years ago, it is worth more in British pounds.

But in those two years, the baht has actually DECLINED slightly in value compare to the dollar and Euro, and it has actually lost almost a third of its value compared to the yen.

The baht has been doing pretty poorly recently, only you do not see it because the British pound has been doing worse.

Since "records began"?

"This was the largest contraction since records began in 1993." says the article.

A bit underwhelming, even though it is serious. Certainly worse than 1997.

Worse than 1941? 1932? 1767? :dontknow: