Like the rest of Southeast Asia, Thailand has been blindsided by the modest nature of China’s rebound. Tourism, a key industry, is gradually recovering. The number of Chinese visitors is heading in the right direction, but nothing like the surge that was anticipated when Beijing canceled Covid Zero. Thailand’s divisive politics aren’t helpful: Two months after an election, the country is without a prime minister.
Don’t let these caveats subtract from a fine story. Most policymakers would prefer to forget that when inflation first…
