[Hindustan Times] Pesky Pakistanis Back Again!

 

Noisy Neighbours Just Can’t Give Us a Break 

November 7th, 1998


In an unprecedented turn of events, rebel militias from Pakistan have launched a sudden offensive across the Indian border in the Indian state of Kashmir. The current casualty and injury toll remains unknown, but it is believed that more innocent civilians will perish as they get caught in this crossfire. 

PM Atal’s excellent record in keeping India relatively insulated from the Asian Economic Crisis will now be put to the test, as the Kashmir conflict has raised concerns over India’s political stability, with investor pessimism towards Indian bonds mounting. Analysts remain upbeat despite the situation, believing that India will not be sucked into this economic quagmire, as long as India undertakes swift and decisive action to resolve this conflict.

When will these Pakistanis just leave us alone?

Comments

Post a Comment

Popular posts from this blog

[Financial Times] Thai Baht Loses its Peg, Value Plummets

The beginning of an exchange rate-induced crisis in what was a tiger economy  A shocking tragedy befalls the Kingdom of Thailand as the state proceeded to float its currency following its perceived inability to sustain its peg to the greenback. A series of speculative attacks amounted to a sharp depreciation of the Thai baht, sending ripples across interlinked financial systems in the Asia-Pacific region. Notably, huge current account deficits, growing real estate asset bubbles, lax regulations in the financial sector, and dwindling foreign exchange reserves diminished investor confidence in the currency and the economic strength of the country. Inevitably, compounded with rumours of a currency devaluation, speculative attacks largely undermined the Bank of Thailand’s ability to defend the baht, ultimately floating the currency. 
Read more

[Financial Times] Global Economic Crisis: 1-Year Review

We’ll be looking at the current Global Financial Crisis – How it started  and got out of hand and the current situation December 1st, 1998 Once a regional crisis limited to Asia, the current financial crisis has spread across the world like an  infectious plague, like a wildfire ravaging a rainforest. And citizens around the world have all been asking  the same question – why isn’t anyone doing anything about it?   The inaction or sometimes “mis-action” of countries has led to the financial state in countries such as  Thailand and Myanmar to worsen, with Thailand’s economy in complete disarray, with the unemployment  rate climbing as high as 9%. Some Thai youth have, unbelievably, offered to work as janitors in the Royal  Palace to secure employment for themselves. In nearby Myanmar, its desperate pleas for IMF intervention  in its oil crisis were initially heeded, despite infighting and squabbles over technicalities punctuating the  negotiat...
Read more

[Asia Times] Thai Imports at Record Low, Worry Brewing

Trade conditions worsen, exporters panic while domestic producers celebrate   With the further depreciation of the Thai baht, Thailand’s quantity demanded for imports has declined  due to a diminishing external value of the Baht (and hence more expensive foreign goods for Thai locals).  This has led to a fall in export demand for trade partners like Japan and Indonesia, with this impact being  the worst in South Korea. In the past month, South Korean exports of electronics, manufacturing materials,  and even basic construction materials like wood and cement have declined by 10.2% as these  export-oriented industries see their long-term profitability being threatened. Smaller enterprises have been  pushed to the brink of insolvency, with a few companies barely breaking even.  Thai manufacturers are ecstatic about such uncompetitive markets, however the general consumer does  seem to think differently. Prices are slowly rising as well, with the...
Read more