Thailand May Say Economy Shrank After Flooding Shut Honda, Canon Factories.
Anna Sophia Riley
Feb. 17, 2012
4:30 PM
This article is about how the economy in Thailand has changed because of some of the worst floods seen in the region in the past 70 years. The article begins by explaining that the economy in Thailand was effected by the factories for companies Honda Motor and Canon shutting down. These companies were forced to remove workers because of the flooding, and therefore the country suffered because of the loss in product etc. These floods killed hundreds of people, and have put a dent in what would've been typical export numbers through the end of the year. This is a big deal because expected exports were already low because of a decrease in demand for products in places such as Europe etc.
The government has already promised spending to repair the damage, but repairs to the economy are expected to be slow. Because of the European economy etc., demand in many Asian countries has decreased, effecting money all over the world because of the loss in demand for exports and product.
I think that this article is important because it shows how the economy of one country can be effected in many ways. Because of the international economic problems going on today, import/export and demand for product has dramatically changed. This article also shows us how something as non-related as an increase in flooding or natural disasters can create a chain of devastation in the economy. It's hard to keep in perspective sometimes, but everything effects how society works and functions, even across multiple countries, and throughout increment weather etc. This article is a good example of the many changes and situations that must be considered when looking at debt, economic crisis, and solutions to international problems.
http://www.bloomberg.com/news/2012-02-16/thailand-may-say-economy-shrank-after-flooding-shut-honda-canon-factories.html
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