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30 October 2017
FROM THE CEO OF EMIS
Just over a year ago I wrote in this newsletter about the death of King Bhumibol Adulyadej of Thailand. Last week saw the funeral of this figurehead who was so revered by his subjects. The ceremony was a hugely lavish event involving a cast of thousands, an audience of millions and a 50 metre golden crematorium. The event will have seemed odd to outside observers for most of whom monarchy is an anachronism. For Thais, there is no doubting the huge role that King Bhumibol played in their live and the development of their country and, while anti-monarchy sentiment is 
punished severely in the country, the affection towards the dead king appears to have been genuine.


What now for this country of nearly 70 million people, the 20th largest economy in the world by GDP? In the short term, there is the likelihood that the ending of the year-long period of mourning will release some pent-up demand within the domestic economy as Thais feel free to start spending again. There has also been a recent increase in exports that bodes well for higher than forecast levels of growth. Of greater consequence for the longer term is whether Thailand will seize this opportunity to move toward a more democratic system of governance. But with the current military regime showing no signs of loosening their grip on power, it looks likely that Thailand’s future, and likely much of its wealth, will rest in the hands of the generals rather than the electorate. 



Guy Dunn


P.S. Here are some articles I found on EMIS last week on the situation in Thailand

GRAND SEND-OFF FOR REVERED THAI KING
Thousands of mourners line the cremation procession route to bid farewell to the beloved monarch.

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NEW REIGN FOR THAI STOCKS?
While Thailand officially mourns, its stock market has started to rejoice.

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THE REIGN OF THAILAND'S LATE KING BHUMIBOL- KEY FACTS
Thailand's late King Bhumibol Adulyadej was revered by the Thai public and was widely seen as a symbol of stability during a seven-decade reign punctuated by violent protests and coups.

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INFOGRAPHIC OF THE WEEK
MALAYSIA TRANSPORTATION SECTOR REPORT 2017/2018

With a population of some 31.9 million, Malaysia is one of the more developed countries, with advanced transportation infrastructures, in the ASEAN region. The sector employed 630,400 people, or 4.45% of total employment in 2016.

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CEIC DATA POINT OF THE WEEK
CEIC Data is a sister company of EMIS and part of the Euromoney Data Division
AUSTRALIAN HOUSE PRICES
Australia's housing market has made a habit of defying financial gravity. House prices have been growing at a double-digit pace so far this year.
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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.
    ASIA    
GROWTH IN CHINA PROPERTY SECTOR SLOWS DOWN IN THE THIRD QUARTER OF 2017
China has seen its property sector’s growth fall to 3.9% in the third quarter of 2017, a year-on-year decline of 4.9 percentage point, China Daily has reported citing data from the National Bureau of Statistics (NBS).

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INDIA AND BANGLADESH TO SEE BETTER PASSENGER TRAIN CONNECTIVITY STARTING NOVEMBER
The External Affairs Minister of India is likely to announce the government’s improved passenger train connectivity with Bangladesh in his visit to the country next week.

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TELECOM OPERATORS IN CHINA TO OFFER FASTER INTERNET CONNECTIVITY, SCRAP ROAMING CHARGES
The Chinese government is preparing to roll out more measures to reduce telecom costs and enhance the speed of internet connection as the number of 4G network and fibre optic broadband users in the country continues to grow at a fast pace.
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              LATIN AMERICA              
NEW BUSINESS OPENINGS IN COLOMBIA UP 7.6% Y/Y IN JAN-SEP
The number of new businesses in Colombia increased 7.6% year-on-year to 264.00 companies in the first nine months of 2017. 

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GS INIMA EXPECTS TO DOUBLE ITS REVENUE IN BRAZIL
Spanish firm GS Inima, specialized in water treatment, will increase its presence in Brazil by starting to operate in the desalination sector.  

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INDIA SET TO BECOME THIRD LARGEST AVIATION MARKET WITHIN EIGHT YEARS, SAYS REPORT
India is expected to become the third largest aviation market by 2025 as a result of high aviation demand coming from the Asia-Pacific region.

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     EMERGING EUROPE     
TURKISH STEEL PRODUCERS LOOK AT AMERICAS FOR NEW EXPORT MARKETS
Turkish steel producers look at Americas for new export markets to compensate the decline in their traditionally biggest rebar client, the Middle East. 

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BAILED OUT BANKS WILL NOT HAVE ACCESS TO OTHER STATE SUPPORT
Russia’s troubled banks will not be able to get additional funds from state-run and strategic firms or from budget and non-budget funds. 

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NUMBER OF INSOLVENT FIRMS IN SLOVAKIA TO DROP 5% Y/Y IN 2017
The number of insolvent Slovakian companies will drop by 5% on an annual basis in 2017, SITA said citing a report of trade credit insurance company Euler Hermes.


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          MIDDLE EAST & AFRICA          
ABU DHABI, DUBAI RANKED TWO BEST CITIES IN MIDDLE EAST TO LIVE, WORK, SURVEY SAYS
The UAE’s cities Abu Dhabi and Dubai have occupied the top two positions of a ranking in the field of living and working conditions in the Middle East and North Africa region.

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IRAN AIMS TO BOOST GAS EXPORTS TO EUROPE
Iran is seeking to boost its gas exports to Europe in the near future although the market in the region is dominated by Russia,  Oil and Gas Industry Feed reported, citing Financial Tribune Daily..

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ETHIOPIA PICKS ENEL-LED CONSORTIUM TO BUILD 100 MW SOLAR FARM
Ethiopia has picked a consortium led by Italy’s Enel renewables arm Enel Green Power (EGP) as a preferred bidder in a tender for the construction of a 100MW solar farm.

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