Zeev
Thanks for the hypothesis. It's the first I've heard of a new SE-A crisis, ala the previous, though admittedly, I'm not very well read on the subject. I have followed the Baht, Philippine Peso and Rupiah, which have weakened since the post crisis recovery. Other than the Peso, which at about 50 has surpassed its '98 low of about 45, neither the Baht or Rupiah have approached its early '98 lows, though the trend has continued in that direction. I attributed most of it to the strength of the dollar, which may be peaking now????
Did a Lexis-Nexis search for "new Asian financial crisis" and only got one hit (below) an interview with the Thai Prime Minister. I'd suspect though that he might be the last individual to acknowledge such an event.
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Source - www.afxnews.com
Prime Minister Chuan Leekpai said a second regional financial crisis is less likely to begin in Thailand. "We have problems (but) the problems of three years ago have changed," he said.
The challenges Thailand faces now are serious but unlike the problems that emerged in 1997, they do not threaten to paralyze its economy, he said. "If we handle the current situation carefully, through good management, a second crisis will not occur." |
