Thursday, October 20, 2011
Floods in Thailand worst since 1949
Flooding that is currently happening in Thailand is the worst in 50 years. Floods inundated 60 regions of the total 77 provinces in Thailand.
Travel warning has been issued in 21 countries including America, Mexico, Spain.
Thai is the number 2 food producer in ASEAN with the Gross Domestic Product is also number 2 in ASEAN. With the flood of Thailand then it can have great impact on ASEAN regional economic situation.
With large number of Japanese manufacturers like Honda and Toyota have facilities in Thailand, Thailand flooding can affect the entire world economy.
Thai Finance Minister Thirachai Phuvanatnaranubala said Thailand's economic growth estimate of 1.7 percent only due to this flooding.
The political situation may be triggered bad by this flood. Thai opposition does not seem willing to compromise and work together to overcome problems with PM Yingluck Shinawatra, who is served as Prime Minister for about 2.5 months, she was inaugurated on August 5, 2011.
This situation reminds me of the President Susilo Bambang Yudoyono (Indonesia) on December 26, 2004, when Indonesia was hit by tsunami and followed by other disasters. He served just about two months when the tsunami occurred, after inaugurated on October 20, 2004.
Hopefully Thailand resilient enough and managed through this ordeal and together back to strengthen regional economic development in ASEAN.