
A bank teller in Bangkok counts out Thai bhat, which was Asia's strongest currency in 2019. The baht's strength has hurt Thailand's economic growth over the past year by making its exports less competitive.
Less than a year into its transition out of direct military rule, Thailand has found itself steeped in mounting economic and political risks. The coronavirus outbreak in China has already taken a toll on the country's vital tourism sector , and the' extent of the damage from the epidemic to Chinese economic growth will risk cutting even deeper into Thai exports. But even before the outbreak, Thailand's strong baht was hindering its growth by deterring tourism and making its exports less competitive. Meanwhile, the country's unwieldy military-aligned ruling coalition is fending off an increasingly desperate opposition seeking to make inroads wherever it can, which will limit Bangkok's ability to implement the big-ticket infrastructure projects needed to spur growth and ultimately weather the storm. The New Coronavirus Threat It is still unclear how long China's coronavirus outbreak will last.