it’s not about thai baht appreciation it’s about dollar depreciation

1. May 14, 1997 – Thailand, with the intervention of Singapore, spends billions of dollars of its foreign reserves to defend the Thai baht against speculative attacks.

2. July 2, 1997 – Thailand devalues the baht. News of the devaluation drops the value of the baht by as much as 20%–a record low. The Thai government requests “technical assistance” from the International Monetary Fund (IMF).

3. August 5, 1997 – Thailand agrees to adopt tough economic measures proposed by the IMF in return for a $17 billion loan from the international lender and Asian nations. The Thai government closes 42 ailing finance companies and imposes tax hikes as part of the IMF’s insistence on austerity.

4. Dec. 8, 1997 – The Thai government announces that it will close 56 insolvent finance companies as part of the IMF’s economic restructuring plan. 30,000 white-collar workers lose their jobs. Michel Camdessus, the IMF’s managing director, praises Thailand for “solid progress.”

Now it’s a completely different picture. The Baht’s trend since early 2006 has been strong with the 1997 crisis a distant memory. “Rogue speculators” have done very well recently by betting on the appreciation of the Thai Baht.

source: maoxian

I think actually it’s not about the thai baht getting stronger. it’s because the dollar getting weaker and if the asian still use the USD as an international exchange rate, it will effect to the long term of Asian business. So right now i would prefer to adopt CNY or EUR instead.

And the situation of Thailand right now, it’s a big opportunity for the old corrupption to get into the polical race and take advantage again. By claiming that we come to help the poor people’s to have a better standard of living. I mean do they really know what does it mean?

i think they don’t!

i love Thailand

LONG LIVE THE KING

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