Thailand in 1998: a false sense of recovery

Article Abstract:

Thailand weathered a host of economic and political challenges in 1998 even as a bleak future lies further ahead. The year saw the crash of a Thai Airways Airbus in December, a tragedy that was somehow tempered by the successful staging of the 13th Asian Games in Bangkok. Prime Minister Chuan Leekpai's first year in office was marred by a string of corruption scandals that clouded an otherwise credible performance by his economic team. Singapore's dim prospects were expressed by the prime minister himself, who warned of agricultural drought, increased unemployment and a decline in export growth as well as production of agricultural commodities.

Analysis, Economic development, Politics

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Thailand in 1997: financial crisis and constitutional reform

Article Abstract:

The devaluation of the Thai baht and the ensuing financial crisis were among the dominant forces in 1997 not only in Thailand but in the entire Asian region as well. Even the ratification of its new Constitution, which represents a dramatic shift from other versions, failed to take attention away from the economic crisis. The economic turmoil, which saw the baht depreciating by about 77% by mid-December, is traced to financial mismanagement, which has its roots in overlending by private financial institutions.

Economic aspects, Constitutions, Baht (Thailand)

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