Thailand’s economy stumbles as Philippines, Vietnam, Indonesia race ahead

Thailand’s household debt reached nearly 87 percent of GDP last year, according to the Bank of Thailand [Lauren DeCicca/Getty Images]

Bangkok, Thailand – Sheltering from the sun on a street corner, Kridsada Ahjed rues the day he got involved with the loan sharks who now gobble up most of his daily earnings.

“I went to the loan sharks because people like me – with no assets or savings – cannot qualify to get help from legitimate banks,” Ahjed, a 40-year-old motorcycle taxi driver, told Al Jazeera.