Thailand’s economy could sour following king’s death

CCTV News

Thailand's economy could sour following king's death

In Thailand, tens of thousands of mourners continue to flock to the Grand Palace where the body of King Bhumipol lies in state. Restrictions on the media put in place after the Kings death have now been partially lifted, and the government has told entertainment venues that they can open as long as loud music or performances don’t interrupt the general mood of solemnity.

The official mourning period will be at least 12 months long, and that could have considerable economic ramifications.

CCTV’s Tony Cheng reports.

Thailand's economy could sour following king's death

Thailand's economy could sour following king's death

In Thailand, tens of thousands of mourners continue to flock to the Grand Palace where the body of King Bhumipol lies in state. Restrictions on the media put in place after the Kings death have now been partially lifted, and the government has told entertainment venues that they can open as long as loud music or performances don’t interrupt the general mood of solemnity. CCTV’s Tony Cheng reports.

Black shirts and tops have been flying off the racks since the announcement of the Kings death. Prices have been rising too.

With an official mourning period of 12 months, mourning attire is going to be obligatory in Thailand for the foreseeable future. Elsewhere business is not so good.

Few customers in the gold shops of Chinatown, and many expect business to slow down to a crawl for the next month as people mourn their monarch.

“The King looked after his people as if they were his children. He didn’t separate them according to race and loved them equally whether they were Thai or Chinese, and thus the relationship between the Thai’s and Chinese was very close…as if we’re from the same family,” said Bite Jitti Tangsitpakdhi, the president of Thai Chinese Chamber of Commerce(THAICC).

The outlook was gloomy on the stock exchange too last week as the Kings health deteriorated the market recorded sharp falls and on Monday the SET slipped further.

And the lengthy mourning period is casting a shadow over all aspects of life. One couple were going ahead with their wedding ceremony but cancelled the reception.