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The re-emergence of the so-called Yellow Shirts
-- notorious for shutting Bangkok's airports for a week in 2008
-- added to the volatility on the streets of Bangkok. The unrest is the result of a political standoff over the 2006 military coup that ousted populist prime minister Thaksin on corruption allegations. The crisis has hurt business in the capital and devastated Thailand's vital tourist industry, which accounts for 6 percent of the economy. But Finance Minister Korn Chatikavanij said Friday the economy as a whole is still faring well, with high foreign exchange reserves. "The Thai economy is showing great resilience. So I think we can survive this. We'll have no problem staging a quick and immediate rebound," Korn said. The Central Bank on Thursday raised its growth forecast for 2010 on the expectations of stronger exports as the global economy improves. It now expects economic growth in a range of 4.3 percent to 5.8 percent, compared with an earlier forecast of 3.3 percent to 5.5 percent. Parts of Bangkok's commercial heart have become a barricaded Red Shirt protest camp, forcing the closure of some of the city's ritziest malls and hotels. The "occupied zone" flanks Chulalongkorn Hospital and abuts Silom Road, the capital's "Wall Street" which has become a camp ground for military and police units. A hospital announcement said patients were being sent to other hospitals or to buildings farther away from the Red Shirts. Almost all outpatient services were being suspended along with surgery, except in emergency cases.
[Associated
Press;
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