Comparing Financial Crashes in Thailand & Ireland
This week Marcus and I look at the original tiger economies of Southeast Asia of the 1990s. After a decade of strong export growth, Thailand, South Korea, Indonesia and the Philippines began to focus on domestic property investment as money poured in from overseas. Then in 1997, starting with Thailand, cash was sucked out of these economies off the back of grim economic news and a staggering descent began. It's a shame Irish policymakers couldn't learn these lesson in time for our own crash in 2008-2009 as the Asian tigers would have shown the Celtic tiger what happens when you go all in on…
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