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As a result, debt began to accumulate rapidly over a short time (Sussangkarn, 1-2).
Yet another symptom of Thailand's economic infirmity was the loss of comparative advantage in labor-intensive industries and an increasingly unfavorable balance of trade. Exports of many significant items had been on the decline, while imports of capital goods, as well as raw materials and intermediate goods were at an all time high (Sussangkarn, 2)...
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Exports of many significant items had been on the decline, while imports of capital goods, as well as raw materials and intermediate goods were at an all time high (Sussangkarn, 2). The productivity of labor in agriculture (an important source of export revenue) had been decreasing at a faster rate than the increase of the same in other sectors of the economy...
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