In 1997, events and flawed government policies started
the Asian Financial Crisis which cause much damages to
the economies of the region and cause widespread
hardships. Things only started to get better over recent
years.
Now in an act to enhance his own influence and control
over the country, the Thai King has unleashed a chain of
events which has been extremely damaging to the Thai
economy and life of the ordinary Thais. The question is
whether the Thais will start another financial crisis in the
region.
The Royalty sanctioned Thai coupe which ousted the
very capable and effective Thanksin by itself should not
lead to another Asian financial crisis. However, events
especially the incompetence of the present Thai government
and the apparent split in the military and ruling elites are
causes for grave concern. If these bunch of idiots continue
to make mistakes in the name of nationalism, then the
region better be prepared for a possible second financial
crisis.