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8 - 14 October
2016
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From
the CEO OF EMIS
There aren’t many places left in the world where the death of a monarch has the potential to completely undermine a country’s economic prosperity and political stability. The passing of King Bhumibol Adulyadej of Thailand last week threatens to do just that.
Thailand has now entered a period of intense mourning for a man who had been a constant presence and symbol of stability in the lives of its people.
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Throughout Thailand’s recent history of military coups, the king had remained a unifying focal point and a major factor in preventing the country from dissolving into greater chaos. Thais are far less devoted to King Bhumibol’s successor, Crown Prince Maha Vajiralongkorn, whose ties to former prime minister Thaksin Sinawatra muddy the waters for the country’s political future.
Thailand’s economic performance in the last decade has been poor relative to the success story of the 80s and 90s when growth averaged 7.5% per annum. This latest development threatens to be a major shock to the economic system as businesses wait to see how the new political order is arranged. It seems strange that, in 2016, we are still talking in such terms because of the death of a king. In the longer term, we should hope that this may be a pivotal event in Thailand’s emergence from semi-feudalism to a more modern democracy.
Guy Dunn
Chief Executive Officer.
P.S. Here are some articles on this subject that I came across on the EMIS platform in the past week.
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IMPACT OF THAI KING`S DEATH ON ECONOMY UNCLEAR
While most analysts expect Thailand's transition to be a stable one, the country remains prone to political upheavals, with affluent urban centers and poorer rural areas.
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IMPORTANT DATES IN THAI KING BHUMIBOL'S REIGN
Thailand's King Bhumibol Adulyadej was the world's longest-reigning monarch until his death on Thursday (Oct 13) at the age of 88.He died after a long battle with illness and had spent much of the last few years in hospital. We look at some key dates in a reign that spanned seven decades.
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THAILAND WAKES TO UNCERTAINTY, WITHOUT KING BHUMIBOL
Thailand's people woke up on Friday to the first day in 70 years without King Bhumibol Adulyadej, a king worshipped as a father-figure who guided the nation through decades of change and turmoil.
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Infographic
of the week
With the policy instruments introduced in the first three months of 2016, the sector is bottoming out, reviving its growth, and continuing to offer opportunities to investors, again mainly in the first-tier cities of Shanghai, Shenzhen, Guangzhou and Beijing. After the historic Chinese stock exchange crash in August 2015, real estate has become a vital destination for investing funds, which has reversed trends and invigorated property transactions in the sector.
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Weekly
News summary
Below
are the most read articles in the past week on EMIS
Perspectives, our daily blog of
emerging market news and insights.
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