Thai economy 'worst in Asia'?
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I've just read yet another US news article that describes Thailand's economy as the "worst in Asia".
On the Internet I looked up “Explaining the World through Macroeconomic Analysis” by Reem Heakal, who writes: “Macroeconomic analysis broadly focuses on three things: 1) national output measured by gross domestic product (GDP), 2) unemployment, and 3) inflation.”
There was no mention of “debt” on the page, and other online summaries either failed to mention it or gave debt short shrift.
How can an economy be declared “best” or “worst” without factoring in debt?
Considering Thailand’s debt situation (not great, but not terrible), I would call its economy “stable”, with no real obstacles to potential future growth.
Ignoring debt in the overall analysis looks very suspicious to me.
Guy Baker
