Thailand’s Kittirat seen happy hot money gone leaving long-term investors

Several local press reports Thailand‘s Finance Minister, a former mutual fund company head, is very happy that “Hot Money” from USA QE flooding Thailand’s money and stock market is gone from Thailand leaving long-term investors. Kittirat says the hot money have pushed the value of the baht up artificially, causing hardship to the real sector as exports became less competitive. Kittirat also urged the USA Fed to taper off QE, warning if it did not, the global economy will suffer. Earlier, Thailand Federation of Industry, fiercely criticized both Kittirat and the Thai Central Bank, for allowing the baht to strengthen from hot money, and proposed a number of measures to cap hot money flow into Thailand. Globally, there appears to be a differing in economic thinking, with countries like Thailand, welcoming to exit of hot money, and countries struggling to support their currencies, weakened, by hot money outflow.


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