Tiger economies but puppet democracies ?- case of Thailand
Singapore, Malaysia , Thailand, South Korea, Indonesia and Taiwan have been hogging the lime light for the scorching economic growth they have been witnessing since early 90s. Being from Orient, they earned the sobriquet "Tiger economies". We were all told to emulate their policies to set our economy in the path of growth and prosperity. The economies of these countries were doing so well that leading Indian companies started exports to those countries denominating them in their on currencies like Baht of Thailand and Won of South Korea. Such was their clout that they could demand deals in their currencies and the exporting companies from India and neighbouring countries obliged. Then came George Soros and his alleged act which saw a run on the currencies of these "tiger economies" which even the experts in IMF, world Bank and the leading lights of all international banks and institutions like Goldman Sach, Lehman Brothers etc could not predict. The economies melted...