Suphachai Chearavanont, chief executive of Charoen Pokphand Group (CP), the agribusiness giant, recently mentioned dire economic prospects, including the ominous word hyperinflation.
Hyperinflation worries stem from a combination of factors including US-China tensions, the global food and energy crises, a potential cryptocurrency bubble and massive ongoing capital injections into the world economy to keep it afloat during the pandemic, he said.
The skyrocketing prices of pork in Thailand and an uptick in headline inflation for four consecutive months underline Mr Suphachai’s concerns.
Pressing issues include how hyperinflation is defined, whether could it happen in Thailand, and how it affects overall consumers, domestic interest rates and the recovering economy.
Hyperinflation is a term economists use to describe a period of…