Latest unrest in Thailand tests a weak economy

Bangkok

THAILAND's economy, South-east Asia's second largest, typically shows remarkable resilience to political turbulence, but there are factors this time around that suggest the ongoing unrest could exacerbate already softening business conditions.

Consumer spending has slumped this year and exports, worth 60 per cent of Thailand's US$366 billion economy, are flagging amid weak global demand. The government had pinned its hopes on offsetting those losses with record 22.3 per cent growth from January to October in tourism, a sector accounting for 9 per cent of gross domestic product (GDP), and big infrastructure spending.