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The "Tom Yam Kung Effect" refers to the Financial crisis which hit SE Asia in 1997, and started in Thailand, with the Baht devaluation.

From a recent article in the Bangkok Post:

From previous experience, the global community does not care to distinguish between countries in the region., but tends to lump them together. An obvious example is the Tom Yam Kung effect which originated in Thailand and rapidly spread across Asia.
Article is related to the SARS outbreak: http://www.bangkokpost.net/040503_Perspect...003_pers02.html

Another Reference, here:

Thailand has been being severely affected by the so-called "Tom Yam Kung" economic crisissince 1997.

Economic and Telecommunications Industry Condition in 2001: CAT

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