Emerging markets must adapt | Bangkok Post: business

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Emerging markets must adapt

Global economy cannot support export strategy

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An export-led economy is no longer a viable strategy for developing nations such as Thailand, says this year's Trade and Development Report from the UN Conference on Trade and Development (Unctad). 

The global economy can no longer support pre-2008 growth strategies, so policymakers in developing countries should move away from wage and export competition.

Instead, they should focus on strengthening domestic and regional demand, said Watcharas Leelawath, deputy director of Thailand's International Institute for Trade and Development, which was tasked with presenting the report yesterday.

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