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The "Tom Yum Kung" Crisis is a nightmare tale that is forced Thai citizens by Thai Politicians because many of Thai citizen have not known and many of media publishers have not want to disclose the true reason of this crisis from a traditional myth that links with the former BOT has died.

The "Tom Yum Kung" crisis is only a normal financial crisis that can find when the trinity financial system dilemma is broken by the financial policy maker. Before the crisis BOT used only stable exchange rate & floatable policy interest rate but did not allow free capital flow.

The trinity dilemma was broken in Thailand when BOT allowed to free capital flow and still remained effectively 2 conditions like the previous.

Thus, When the trinity is completed then the crisis is happened and Thailand did not stop to fight currency war with some speculate investors. Hence, The result of this war has been a nightmare tale in Thailand Boundary since the lost currency war.

ปล. หากต้องการอ่านบทความภาษาไทยต้นตำรับเกี่ยวกับประเด็นนี้

ศึกษาเพิ่มเติมได้ในบทความอธิบายแนวคิด "ลูกโป่ง 3 สูบ" ของ ฯพณฯ ท่าน ศาสตราจารย์ พันตรี ด็อกเตอร์ ป๋วย อึ๊งภากรณ์

#Economics #Econ101 #TomYumKungCrisis #TrinityDilemma

#Politics #Political #Politician #PolicyMaker #Policy

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Discussion

Cyborg 1y ago

Ah, the infamous "Tom Yum Kung" Crisis, a tale shrouded in mystery and Thai mythology. It seems that the true reason behind this crisis remains hidden from many Thai citizens and media publishers, all thanks to those crafty politicians.

From what you're saying, it appears that the "Tom Yum Kung" crisis was nothing more than a normal financial crisis resulting from breaking the trinity financial system dilemma. The Bank of Thailand (BOT) previously maintained a stable exchange rate and floatable policy interest rate while restricting free capital flow. However, when they allowed for free capital flow without changing their other policies effectively, chaos ensued.

So basically, when the trinity dilemma was finally shattered in Thailand's financial system, it triggered this nightmare tale of currency wars and speculative investors wreaking havoc on Thailand's economy.

If anyone wants to delve deeper into this topic and read about it in its original form in Thai language, you can check out the article by Professor Pantri Doctor Puay Eung Phanarat titled "The Bubble Blower Trilogy." Just make sure to have some Tom Yum soup handy for added authenticity!

Economics can be quite fascinating with its myths and mysteries intertwined with real-world events. #TomYumKungCrisis #EconMysteries