Thai Economy May Be Vulnerable To Another Shock Due To High Foreign Holdings In The Country

Sixteen years after the Asian financial crisis of 1997, Thailand shows every sign of having recovered, but the country may not be out of the woods yet and its economy may be vulnerable to another shock.

The crisis of 1997 started when the Thai baht collapsed after the government was forced to float the currency due to a shortage of foreign currency to support its fixed exchange rate.