China's movie industry, or "Chollywood," is getting so influential it can save another country from recession.
Thailand has seen its trade balance disintegrate to a deficit of 6% of gross domestic product from a surplus of the same over the past two years. The only reason this hasn't sent the currency plummeting, and forced a recession, is tourist inflows, says Jonathan Anderson of Emerging Advisors Group.
China isn't anywhere near to matching Hollywood's global culture's influence. Still, there is much to be said for Chollywood's hard-currency clout.