1. Read the below article about Thailand. According to the article, what were the causes of the slowdown in growth in Thailand? Classify the shocks mentioned according to demand or supply shocks.

Article from the FT:

Thailand economy slows to five-year low as exports fall

Thailand's economy grew at its slowest rate in nearly five years in the second quarter, the government said yesterday, as slowing exports, a struggling farm sector and rising US-China trade tensions took their toll on south-east Asia's second-largest economy.

Gross domestic product rose 2.3 per cent in April to June compared with the same period in 2018, according to Thailand's Office of the National Economic and Social Development Council, after growing 2.9 per cent in the first quarter of this year.

The Thai government blamed flagging domestic demand and weakening export performance for the slowdown, news of which came before the cabinet's expected announcement today of a $10bn economic stimulus package.

The Thai baht has been one of Asia's strongest currencies this year, hurting the competitiveness of Thai exports and its key tourism sector, which generates more than a fifth ofGDP. Its farming sector is in the grip of a drought.

Thailand said yesterday that second quarter agricultural output fell 1.1 per cent, exports dropped 6.1 per cent, and imports declined 2.7 per cent year on year. Veerathai Santiprabhob, governor ofThailand's central bank, said the bank would lower its 2019 economic forecast of 3.3 per cent because of slowing growth. The Thai economy grew 4.1 per cent in 2018.

The Bank of Thailandunexpectedly cut the main lending rate by a quarter of a percentage point this month, owing to concerns over the sluggish outlook for the Thai economy and for global trade.

Today's anticipated Bt316bn ($10bn) of government spending is intended to invigorate growth. It is expected to include loans and debt forgiveness for farmers, cash handouts for poorer Thais and a visa moratorium for visitors from China and India, according to government officials.