Title: Economic and Political Crises in Thailand: Social Impacts and Government Responses
Abstract: Explains that between 2008 and 2009, Thailand suffered the combined effects of the global financial crisis and its own domestic political crisis. The financial crisis impacted growth through the fast decline in global demand for Thai exports, and political unrest added to the impact on domestic consumer confidence and internal demand. Macro-level effects were transmitted to people and communities mainly through a fall in demand for labor, which lowered wages and incomes. Workers in sectors linked to global trade initially experienced freezes in overtime, reductions in working hours, and eventually layoffs. In the informal sector, workers saw falling demand for their services and products, and they experienced growing competition from laid-off workers trying to work in the informal sector. While the crises affected all workers in one way or another, informal workers and landless households dependent on remittances were hit hardest, had the most difficulties coping, and were taking longer to recover.
Publication Year: 2012
Publication Date: 2012-04-03
Language: en
Type: book-chapter
Indexed In: ['crossref']
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