Debt crisis dominates Asia-Europe finance talks

Published: 15 Oct 2012 at 15.17
Online news:

BANGKOK - Senior finance officials from Asia and Europe met Monday for talks on the global economy in the face of growing nervousness about the worldwide fallout of the eurozone debt crisis.

The meeting in Siam Kempinski Hotel, Bangkok comes as Asia's economies - for years seen as a bright spot in a gloomy world economy - show increasing strains from Europe's financial turbulence.

"With the ongoing economic difficulties of some countries in the eurozone, I believe that our cooperation is even more crucial than ever," Deputy Prime Minister Finance Minister Kittiratt Na-Ranong said in opening remarks.

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twodogs
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Discussion 5 : 16 Oct 2012 at 09.375
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Be careful with these guys.... they will try to bleed Asia dry like they did in Europe and US....
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boons
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Discussion 4 : 15 Oct 2012 at 21.414
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Thailand is in far more economic trouble than most policy economists will openly admit. Thailand is a 70% export economy, with relatively high wages compared to it's neighboring nations. Industrial flight will be far stronger than is currently predicted. The baht is far too strong, particularly as Western economies reduce the values of their respective currencies.

Declining exports, rising wages, and a rising currency are clearly a very poor mix for Thailand's economic growth -- particularly as Western spending collapses, and ASEAN offers cheaper manufacturing options next door.

The solution will (and must) be a concerted effort to reduce the value of the baht -- which is near its all time highs. If the baht appreciates further, the next problem Thailand will face is an equity market collapse as spread between anemic growth and overvalued assets reaches unstable levels.
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bluebottle
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Discussion 3 : 15 Oct 2012 at 21.323
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We all got used to bigger returns for our investments and insisted on more. The bankers went out to try and provide us,granted to make money for themselves by way of bonuses etc. We all got greedy and lived beyond our means.Asia rode on the crest of it and had a hay day for a time and now it over the moping up needs to start. Asia need not be so complacent it will hit them, although not according to our PM of course as Thailand dose little trade with Europe,remember.
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wakeup
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Discussion 2 : 15 Oct 2012 at 18.392
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So the people who wrecked Europe's economy is planning on being the same people to "fix" it? And they will do this by getting other regions of the world to apply their same flawed model to their own local economies? Time to wake up.
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dickemery
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Discussion 1 : 15 Oct 2012 at 18.021
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asean countries have nothing to learn from the EU finance committee,they are absolutely out of touch with what needs to be done in europe,they are like a flock of sheep wndering around the field completely loss ,but when the shepperd (merkel) speaks,they follow,it why EU is in a shamble
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Debt crisis dominates Asia-Europe finance talks | Bangkok Post: business