Thailand's Nijathaworn on the current turmoil

The unwinding of global imbalances, triggered by corrections in the US housing market that began in 2006, has caused the current global financial turbulence, said Bandid Nijathaworn, a deputy governor of the Bank of Thailand.

Nijathaworn stressed that such an unwinding was a necessary process to clear excess imbalances that had built up.

He was confident that the Thai economy would remain strong in spite of the turmoil.

"The ability of the Thai economy to weather external shocks and global

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