Seeking Alpha "Thailand's New Banking Policies"
03/01/12 14:29
Thailand is currently experiencing the socioeconomic problem of a missing middle class. There is a great divide between the country’s highest earning and lowest earning groups. The country’s highest earning group is benefiting from increased connectivity through technology. Some members of the middle class have just emerged from poverty and are earning the majority of their income through labor. The lowest bracket in this group is feeling the most pressure about their future. In Thailand, the richest 20% make almost 60% of the income. The poorest 20% made only 4% of the income. This disparity has Thailand ranked last place amongst its neighbors. The disparity between the rich and the poor is similar to what was seen in Russia after the collapse of the Soviet Union. Slowly, Russia’s middle class is gaining in members. Economic policy reform has been painstakingly slow in Russia, but progress has been made. Analysts feel that policy reform in Thailand should focus largely on limiting monopolies and deterring corruption.
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