Thailand has transitioned from a lowincome to an upper-middle-income country in less than a generation. Over the past 20 years, the country has maintained high foreign reserves, low inflation, a sound banking system and a stable exchange rate. Combined with an openness to trade, financial flows, labour migration and investments in both human and physical capital, these advances have facilitateā¦
Money, as the saying goes, makes the world go round. Everybody uses it; ourmodern societies would not function without it. Credit is just as crucial, as borrowingallows businesses to invest and consumers to buy goods and services today againsttheir income tomorrow. But although money and debt are central in our societies andto our welfare, how they actually function is not easily understood.Theā¦