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In 1997 Thailand, especially Bangkok, was hit hard by the Asian Financial Crisis. Much like the bursting of the housing bubble in the States that inspired this website, the Thai Baht collapsed in 1997 due to a serious overextension of real estate. During the earlier years of the 90s, Thailand was the largest growing economy in the world, growing over 9% annually and speculators were going wild. Ghost towers are scattered throughout the city and major roads are flanked by half finished pylons ready to become super highways. Unfortunately, Thailand was also taking on a lot of foreign debt, bankrupting the country and causing the baht to collapse.
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