Conclusion
To achieve Macroeconomic balances, great care and prudent policy management are needed. To be prudent was to be far-sighted and realistic. In the Thai financial crisis case, policies had not been prudently thought out. The collapse of the economy was a very tough lesson for the Thais. It would take long for the economy to recover. (It was predicted to be longer than that of Mexico concisely because the other countries of the region were also hit. Thus, Thailand could not gain much terms of trade after the devaluation of the baht to help improving its economy. Plus, the slow down of Japanese economy had made it unable to give much aid to Thailand unlike Mexico who had a huge support from the US for the road to its recovery.) But hopefully, during that long road, the Thais would maximally utilize the time to thought out wise policies and beef up a real strength so that when the next storm came, it would not turn over again.
Conclusion To achieve Macroeconomic balances, great care and prudent policy management are needed. To be prudent was to be far-sighted and realistic. In the Thai financial crisis case, policies had not been prudently thought out. The collapse of the economy was a very tough lesson for the Thais. It would take long for the economy to recover. (It was predicted to be longer than that of Mexico concisely because the other countries of the region were also hit. Thus, Thailand could not gain much terms of trade after the devaluation of the baht to help improving its economy. Plus, the slow down of Japanese economy had made it unable to give much aid to Thailand unlike Mexico who had a huge support from the US for the road to its recovery.) But hopefully, during that long road, the Thais would maximally utilize the time to thought out wise policies and beef up a real strength so that when the next storm came, it would not turn over again.
การแปล กรุณารอสักครู่..