Competitive devaluations and capital controls could prove as damaging to the global economy as the trade wars of the 1930s during the Great Depression, according to Daniel Murray, the chief economist for EFG Asset Management.
Infrastructure spending will help Thailand compete, says Mr Murray. APICHART JINAKUL
Capital controls, Mr Murray said, ultimately fuel "dysfunctionalities and inefficiencies", although he is optimistic that past mistakes will not be repeated.
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