In previous years, it would have been mainly advanced economy central banks making purchases of government debt. However, for the first time on a significant scale, central banks in countries such as South Africa, Poland, and Thailand broke new ground through their use of asset purchases to combat market dysfunction.
Thailand is recovering from a very challenging year marked by natural disasters of historic magnitude. First, the earthquake in Japan in March disrupted supply chains and slowed down production, albeit temporarily. Then, the country was inundated by massive floods that began in August and worsened in October–November, slowing the economy to a near halt.
The International Monetary Fund’s (lMF) latest assessment on the Chinese economy was released on Feb 6 by the IMF Resident Representative Office in China. It included recent developments, the outlook, risks and policy suggestions. Reflecting the worsened external environment since the last update several months ago, China’s economic growth for 2012 was revised down to 8.25 percent. But still, China remains a bright spot in the midst of intensifying strains in the euro and fragilities elsewhere.