China Shock Is Harder to Fight for Thailand With the Superpower Next Door

After a lean few years, Thailand’s economy is showing signs of improvement. Deflation has given way to inflation of almost 3%, while policymakers are upgrading growth forecasts. With the recovery still modest, however, officials have little reason to rush: Absent a major upheaval, they can take their time lifting interest rates from historically low levels.It's an encouraging picture — but one that tells only part of the story.