Thailand has just had its fifth straight month of deflation with CPI falling to -1.3% year-on-year, and Societe Generale permabear Albert Edwards sees evidence of a broader Asian malaise and a possible repeat of the 1997 Asian financial crisis, which itself kicked off in Thailand.
“History does indeed rhyme and Asia is in severe trouble again with the yen once again sliding precipitately just as it did in the two years prior to the Thai baht collapse in July 1997,” Edwards writes. “The won, for example has risen relentlessly and is almost back to where it stood in 2007, while...
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