Thailand maintains growth projections despite riots#9

Thailand maintains growth projections despite riots#9 -...

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Brenda Hawkins ECO 405 Mr. Neisser 05/24/2010 Case #9 Thailand maintains growth projections despite riots BANGKOK - Thailand on Monday maintained economic growth projections for the year despite political mayhem, but analysts doubted the economy's stellar first quarter performance would cancel out the slowdown from the violence. The stock market dropped sharply despite the government forecast as Bangkok cautiously reopened for business after the most violent riots in modern history. Analysts blamed increased political risk and the delayed effect of the euro zone crisis. "Investors may be temporarily relieved that a semblance of normalcy has returned, but the political risk remains high and investors will likely be cautious," said Warut Siwasariyanon, head of research at Finansia Syrus Securities in Bangkok. "The big underlying conflict is still there and the wound is deeper than ever, even as the roads have been wiped clean." At least 54 people were killed in Bangkok and more than 400 injured in the latest bout of violence that began on May 14. Almost 40 buildings were set on fire last week as the army dispersed thousands of anti-government protesters who had taken over the commercial heart of the city for months. The state planning agency said the 2010 growth forecast was being maintained at 3.5-4.5
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This note was uploaded on 06/18/2011 for the course BUS 499 taught by Professor Campbell during the Spring '11 term at Strayer.

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Thailand maintains growth projections despite riots#9 -...

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