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Sign My Guestbook View My Guestbook What's new: November 30, 2001 Rerngchai is not the only culprit in crisisGeneral Chavalit Yongchaiyudh, the defence minister, sprang a big surprise. He revealed yesterday that at the height of the 1997 baht crisis the government he headed struck a secret currency swap agreement worth a staggering US$10 billion (Bt440 billion) with the Chinese government. November 28, 2001 Rerngchai - sinner or scapegoat?Rerngchai Marakanond, a former Bank of Thailand governor, is about to pay a dear price for his central role in the futile baht defence in 1997. Is he a scapegoat? Thanong Khanthong looks at the baht-defence debacle. How the baht was 'attacked'Throughout the stormy events that preceded the 1997 crisis, the baht came under pressure from two battlegrounds: the spot market and the forward market. November 23, 2001 Thaksinomics dead in Japanese watersThaksinomics has proved to be shortlived indeed. On Tuesday, Prime Minister Thaksin Shinawatra told a Japanese audience in Tokyo that he would still embrace the East Asian Economic Model, of which Japan is the driving force. By saying so publicly, Thaksin made a Uturn in his core economic thinking. Berli shares soar 30% on bidThe stock price of consumer products company Berli Jucker Plc jumped almost 30 per cent to Bt39.75 yesterday on news of a takeover bid by liquor tycoon Charoen Sirivadhanabhakdi, who is expected to make a 100percent tender offer and to then seek Berli Jucker’s delisting. Overdrive I have added a new section called Overdrive where I put my commentary pieces, which have been published on the editorial page every Friday. My Chat Room I've added a chat room to this site. Hope to have a chance to talk live to you all. You can also now search my site by using a search engine in My Chat Room and Message Board pages. Visit My Chat Room now.
What went wrong with the IMF Here is a series on why International Monetary Fund made mistakes in its attempts to cure Thailand's economic malaise. Who sold Thailand's sovereignty The New Aspiration Party accused the Chuan government of causing Thailand to lose its sovereignty to IMF with the fifth letter of intent. Instead, the NAP-led government itself did it. Finance One's Fiasco: Finance One becomes the only Thai corporation honored to be mentioned on the popular multimedia encyclopedia, Microsoft Encarta. Here is the excerpt from Encarta: "In March 1997 the authorities temporarily suspended trading in certain stocks and announced emergency measures, as Thailand’s largest finance company, Finance One, nearly collapsed, triggering a financial panic; in May, Thailand’s bank spent some US$10,000 million to support the collapsing Thai currency and introduced exchange controls."
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