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Thai government advised to prepare for financial fallout from China’s ‘Evergrande’ crisis

23 Sept 04:17 Key points summarised by AI

Former Thai Finance Minister Korn Chatikavanij urges the government to proactively prepare for potential financial fallout from China's Evergrande crisis.
Evergrande, the world's most indebted property developer with US$305 billion debt, faces imminent collapse after share plunges and payment defaults.
Korn stresses the importance of a pre-emptive plan, citing Thailand's effective mitigation of the 2007-2010 global financial crisis.
He warns that Thailand's significant economic dependency on China requires immediate contingency planning to cushion future impacts.

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.