Andy Williams Not Singing In Bangkok

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: Finding bird flu at the end of Asia's rainbow

William Pesek Jr. Bloomberg News Monday, February 2, 2004

Aside from karaoke buffs, few in Asia care about the travel plans of the crooner Andy Williams. That was until the 76-year-old American, famous for "Moon River" and "Canadian Sunset," postponed his Asian tour.

.

Williams put off appearances in Hong Kong, Japan, Singapore and Thailand because of worries over the spread of bird flu. His decision may not seem newsworthy, but might so many others follow him that the result is a regionwide travel ban?

.

Restricting travel was one question Asian leaders grappled with last week in Bangkok when they met to discuss halting the outbreak that has killed at least eight people in the region. The trouble is, few Asian governments seem to be handling the crisis well, and investors are getting antsy.

.

Thai government bond yields fell to a record low last week amid fears of slower economic growth. Shares of Cathay Pacific Airways and Japan Airlines lost more than 5 percent last week in U.S. dollar terms. Malaysian Airline System lost nearly 7 percent and Thai Airways International shed more than 11 percent. Other travel-related stocks took hits, too.

.

Along with the economic risks associated with a flu that has spread to 10 nations, investors worry about the secrecy with which Thailand, Indonesia and perhaps others have handled bird flu. It is reminiscent of Beijing's shameful handling of severe acute respiratory syndrome last year.

.

China, trying to shield its economy from negative publicity, hid its SARS epidemic, putting exports before public safety. Only after the rest of the world cried foul did the authorities come clean. That lesson hasn't been learned as well as you would expect here in Asia.

.

Last year's 117 percent rally in Thai stocks showed the extent to which investors are rushing back to the nation at the center of the 1997 Asian financial crisis. The enthusiasm reflected improved transparency in an economy that offered little such benefit prior to 1997.

.

Imagine investors' surprise when Thailand was accused of covering up a deadly bird-flu virus that has the potential to become a global pandemic. Bangkok seemed to think it more important to preserve its poultry-exporters and tourism industries than to safeguard public health.

.

Of all the things that could possibly slam Thailand's recovery, who ever thought of chickens? Yet the spread of bird flu and Thailand's bungled response could damage Southeast Asia's No.2 economy.

.

"The worst-case scenario is very bad - tourism grinds to a halt," said Mark Matthews at CLSA. "During SARS it only fell 10 percent. Thailand only took a glancing blow with that. This time it's happening on the home turf. Imagine if tourism fell 80 percent."

.

A bird-flu crisis could dwarf SARS, which caused tens of billions of dollars in lost revenue worldwide. Shigeru Omi, regional director of the World Health Organization, warned that "there's always potential" bird flu "could kill millions of people globally."

.

There could be considerable hyperbole in all this, but governments bear some blame for how the media cover such stories. While they are supposed to be skeptical, journalists often give governments the benefit of the doubt on dangerous public health issues.

.

That was until Beijing's cover-up of SARS, which is being cited often as officials grapple with bird flu. "The lessons of SARS must not be forgotten," Prime Minister Thaksin Shinawatra of Thailand said last week.

.

Ironically, the Thai government has been criticized for doing just that. Beate Gminder, a European Commission spokeswoman, last week said, "Complete reliance on Thai assurances does not seem to the best way to go forward. We have some quotes by the Thai prime minister where he said things were not as the public was led to believe."

.

Bangkok finally admitted it "screwed up" with bird flu, and it gets points for having organized Wednesday's meeting in Bangkok. The government also has culled more than 10 million chickens. Yet it will take time for Thaksin, like Beijing's leaders, to win back trust.

.

Indonesia has come in for criticism, too. It was not until Thursday that President Megawati Sukarnoputri ordered the culling of poultry suspected to have bird flu. The move came days after rebukes from the World Health Organization and Jakarta's admission that it had detected a strain of bird flu.

.

China also had to deny a report in New Scientist, a British magazine, that bird flu originated on its soil. It's possible the story is wrong, but China's track record on such issues is not great.

.

What are investors to make of all this? If governments will not report properly on nonideological public health issues, investors have every reason to wonder if they are getting reliable information on economies and companies.

.

Borrowing a line or two from "Moon River," which Andy Williams helped make famous, all investors are "after that same rainbow's end." If Asia doesn't offer them transparency, honesty and profits, "there's such a lot of world too see" and invest in elsewhere.

.

Bloomberg News

< < Back to Start of Article Aside from karaoke buffs, few in Asia care about the travel plans of the crooner Andy Williams. That was until the 76-year-old American, famous for "Moon River" and "Canadian Sunset," postponed his Asian tour.

.

Williams put off appearances in Hong Kong, Japan, Singapore and Thailand because of worries over the spread of bird flu. His decision may not seem newsworthy, but might so many others follow him that the result is a regionwide travel ban?

.

Restricting travel was one question Asian leaders grappled with last week in Bangkok when they met to discuss halting the outbreak that has killed at least eight people in the region. The trouble is, few Asian governments seem to be handling the crisis well, and investors are getting antsy.

.

Thai government bond yields fell to a record low last week amid fears of slower economic growth. Shares of Cathay Pacific Airways and Japan Airlines lost more than 5 percent last week in U.S. dollar terms. Malaysian Airline System lost nearly 7 percent and Thai Airways International shed more than 11 percent. Other travel-related stocks took hits, too.

.

Along with the economic risks associated with a flu that has spread to 10 nations, investors worry about the secrecy with which Thailand, Indonesia and perhaps others have handled bird flu. It is reminiscent of Beijing's shameful handling of severe acute respiratory syndrome last year.

.

China, trying to shield its economy from negative publicity, hid its SARS epidemic, putting exports before public safety. Only after the rest of the world cried foul did the authorities come clean. That lesson hasn't been learned as well as you would expect here in Asia.

.

Last year's 117 percent rally in Thai stocks showed the extent to which investors are rushing back to the nation at the center of the 1997 Asian financial crisis. The enthusiasm reflected improved transparency in an economy that offered little such benefit prior to 1997.

.

Imagine investors' surprise when Thailand was accused of covering up a deadly bird-flu virus that has the potential to become a global pandemic. Bangkok seemed to think it more important to preserve its poultry-exporters and tourism industries than to safeguard public health.

.

Of all the things that could possibly slam Thailand's recovery, who ever thought of chickens? Yet the spread of bird flu and Thailand's bungled response could damage Southeast Asia's No.2 economy.

.

"The worst-case scenario is very bad - tourism grinds to a halt," said Mark Matthews at CLSA. "During SARS it only fell 10 percent. Thailand only took a glancing blow with that. This time it's happening on the home turf. Imagine if tourism fell 80 percent."

.

A bird-flu crisis could dwarf SARS, which caused tens of billions of dollars in lost revenue worldwide. Shigeru Omi, regional director of the World Health Organization, warned that "there's always potential" bird flu "could kill millions of people globally."

.

There could be considerable hyperbole in all this, but governments bear some blame for how the media cover such stories. While they are supposed to be skeptical, journalists often give governments the benefit of the doubt on dangerous public health issues.

.

That was until Beijing's cover-up of SARS, which is being cited often as officials grapple with bird flu. "The lessons of SARS must not be forgotten," Prime Minister Thaksin Shinawatra of Thailand said last week.

.

Ironically, the Thai government has been criticized for doing just that. Beate Gminder, a European Commission spokeswoman, last week said, "Complete reliance on Thai assurances does not seem to the best way to go forward. We have some quotes by the Thai prime minister where he said things were not as the public was led to believe."

.

Bangkok finally admitted it "screwed up" with bird flu, and it gets points for having organized Wednesday's meeting in Bangkok. The government also has culled more than 10 million chickens. Yet it will take time for Thaksin, like Beijing's leaders, to win back trust.

.

Indonesia has come in for criticism, too. It was not until Thursday that President Megawati Sukarnoputri ordered the culling of poultry suspected to have bird flu. The move came days after rebukes from the World Health Organization and Jakarta's admission that it had detected a strain of bird flu.

.

China also had to deny a report in New Scientist, a British magazine, that bird flu originated on its soil. It's possible the story is wrong, but China's track record on such issues is not great.

.

What are investors to make of all this? If governments will not report properly on nonideological public health issues, investors have every reason to wonder if they are getting reliable information on economies and companies.

.

Borrowing a line or two from "Moon River," which Andy Williams helped make famous, all investors are "after that same rainbow's end." If Asia doesn't offer them transparency, honesty and profits, "there's such a lot of world too see" and invest in elsewhere.

.

Bloomberg News Aside from karaoke buffs, few in Asia care about the travel plans of the crooner Andy Williams. That was until the 76-year-old American, famous for "Moon River" and "Canadian Sunset," postponed his Asian tour.

.

Williams put off appearances in Hong Kong, Japan, Singapore and Thailand because of worries over the spread of bird flu. His decision may not seem newsworthy, but might so many others follow him that the result is a regionwide travel ban?

.

Restricting travel was one question Asian leaders grappled with last week in Bangkok when they met to discuss halting the outbreak that has killed at least eight people in the region. The trouble is, few Asian governments seem to be handling the crisis well, and investors are getting antsy.

.

Thai government bond yields fell to a record low last week amid fears of slower economic growth. Shares of Cathay Pacific Airways and Japan Airlines lost more than 5 percent last week in U.S. dollar terms. Malaysian Airline System lost nearly 7 percent and Thai Airways International shed more than 11 percent. Other travel-related stocks took hits, too.

.

Along with the economic risks associated with a flu that has spread to 10 nations, investors worry about the secrecy with which Thailand, Indonesia and perhaps others have handled bird flu. It is reminiscent of Beijing's shameful handling of severe acute respiratory syndrome last year.

.

China, trying to shield its economy from negative publicity, hid its SARS epidemic, putting exports before public safety. Only after the rest of the world cried foul did the authorities come clean. That lesson hasn't been learned as well as you would expect here in Asia.

.

Last year's 117 percent rally in Thai stocks showed the extent to which investors are rushing back to the nation at the center of the 1997 Asian financial crisis. The enthusiasm reflected improved transparency in an economy that offered little such benefit prior to 1997.

.

Imagine investors' surprise when Thailand was accused of covering up a deadly bird-flu virus that has the potential to become a global pandemic. Bangkok seemed to think it more important to preserve its poultry-exporters and tourism industries than to safeguard public health.

.

Of all the things that could possibly slam Thailand's recovery, who ever thought of chickens? Yet the spread of bird flu and Thailand's bungled response could damage Southeast Asia's No.2 economy.

.

"The worst-case scenario is very bad - tourism grinds to a halt," said Mark Matthews at CLSA. "During SARS it only fell 10 percent. Thailand only took a glancing blow with that. This time it's happening on the home turf. Imagine if tourism fell 80 percent."

.

A bird-flu crisis could dwarf SARS, which caused tens of billions of dollars in lost revenue worldwide. Shigeru Omi, regional director of the World Health Organization, warned that "there's always potential" bird flu "could kill millions of people globally."

.

There could be considerable hyperbole in all this, but governments bear some blame for how the media cover such stories. While they are supposed to be skeptical, journalists often give governments the benefit of the doubt on dangerous public health issues.

.

That was until Beijing's cover-up of SARS, which is being cited often as officials grapple with bird flu. "The lessons of SARS must not be forgotten," Prime Minister Thaksin Shinawatra of Thailand said last week.

.

Ironically, the Thai government has been criticized for doing just that. Beate Gminder, a European Commission spokeswoman, last week said, "Complete reliance on Thai assurances does not seem to the best way to go forward. We have some quotes by the Thai prime minister where he said things were not as the public was led to believe."

.

Bangkok finally admitted it "screwed up" with bird flu, and it gets points for having organized Wednesday's meeting in Bangkok. The government also has culled more than 10 million chickens. Yet it will take time for Thaksin, like Beijing's leaders, to win back trust.

.

Indonesia has come in for criticism, too. It was not until Thursday that President Megawati Sukarnoputri ordered the culling of poultry suspected to have bird flu. The move came days after rebukes from the World Health Organization and Jakarta's admission that it had detected a strain of bird flu.

.

China also had to deny a report in New Scientist, a British magazine, that bird flu originated on its soil. It's possible the story is wrong, but China's track record on such issues is not great.

.

What are investors to make of all this? If governments will not report properly on nonideological public health issues, investors have every reason to wonder if they are getting reliable information on economies and companies.

.

Borrowing a line or two from "Moon River," which Andy Williams helped make famous, all investors are "after that same rainbow's end." If Asia doesn't offer them transparency, honesty and profits, "there's such a lot of world too see" and invest in elsewhere.

.

Bloomberg News Aside from karaoke buffs, few in Asia care about the travel plans of the crooner Andy Williams. That was until the 76-year-old American, famous for "Moon River" and "Canadian Sunset," postponed his Asian tour.

.

Williams put off appearances in Hong Kong, Japan, Singapore and Thailand because of worries over the spread of bird flu. His decision may not seem newsworthy, but might so many others follow him that the result is a regionwide travel ban?

.

Restricting travel was one question Asian leaders grappled with last week in Bangkok when they met to discuss halting the outbreak that has killed at least eight people in the region. The trouble is, few Asian governments seem to be handling the crisis well, and investors are getting antsy.

.

Thai government bond yields fell to a record low last week amid fears of slower economic growth. Shares of Cathay Pacific Airways and Japan Airlines lost more than 5 percent last week in U.S. dollar terms. Malaysian Airline System lost nearly 7 percent and Thai Airways International shed more than 11 percent. Other travel-related stocks took hits, too.

.

Along with the economic risks associated with a flu that has spread to 10 nations, investors worry about the secrecy with which Thailand, Indonesia and perhaps others have handled bird flu. It is reminiscent of Beijing's shameful handling of severe acute respiratory syndrome last year.

.

China, trying to shield its economy from negative publicity, hid its SARS epidemic, putting exports before public safety. Only after the rest of the world cried foul did the authorities come clean. That lesson hasn't been learned as well as you would expect here in Asia.

.

Last year's 117 percent rally in Thai stocks showed the extent to which investors are rushing back to the nation at the center of the 1997 Asian financial crisis. The enthusiasm reflected improved transparency in an economy that offered little such benefit prior to 1997.

.

Imagine investors' surprise when Thailand was accused of covering up a deadly bird-flu virus that has the potential to become a global pandemic. Bangkok seemed to think it more important to preserve its poultry-exporters and tourism industries than to safeguard public health.

.

Of all the things that could possibly slam Thailand's recovery, who ever thought of chickens? Yet the spread of bird flu and Thailand's bungled response could damage Southeast Asia's No.2 economy.

.

"The worst-case scenario is very bad - tourism grinds to a halt," said Mark Matthews at CLSA. "During SARS it only fell 10 percent. Thailand only took a glancing blow with that. This time it's happening on the home turf. Imagine if tourism fell 80 percent."

.

A bird-flu crisis could dwarf SARS, which caused tens of billions of dollars in lost revenue worldwide. Shigeru Omi, regional director of the World Health Organization, warned that "there's always potential" bird flu "could kill millions of people globally."

.

There could be considerable hyperbole in all this, but governments bear some blame for how the media cover such stories. While they are supposed to be skeptical, journalists often give governments the benefit of the doubt on dangerous public health issues.

.

That was until Beijing's cover-up of SARS, which is being cited often as officials grapple with bird flu. "The lessons of SARS must not be forgotten," Prime Minister Thaksin Shinawatra of Thailand said last week.

.

Ironically, the Thai government has been criticized for doing just that. Beate Gminder, a European Commission spokeswoman, last week said, "Complete reliance on Thai assurances does not seem to the best way to go forward. We have some quotes by the Thai prime minister where he said things were not as the public was led to believe."

.

Bangkok finally admitted it "screwed up" with bird flu, and it gets points for having organized Wednesday's meeting in Bangkok. The government also has culled more than 10 million chickens. Yet it will take time for Thaksin, like Beijing's leaders, to win back trust.

.

Indonesia has come in for criticism, too. It was not until Thursday that President Megawati Sukarnoputri ordered the culling of poultry suspected to have bird flu. The move came days after rebukes from the World Health Organization and Jakarta's admission that it had detected a strain of bird flu.

.

China also had to deny a report in New Scientist, a British magazine, that bird flu originated on its soil. It's possible the story is wrong, but China's track record on such issues is not great.

.

What are investors to make of all this? If governments will not report properly on nonideological public health issues, investors have every reason to wonder if they are getting reliable information on economies and companies.

.

Borrowing a line or two from "Moon River," which Andy Williams helped make famous, all investors are "after that same rainbow's end." If Asia doesn't offer them transparency, honesty and profits, "there's such a lot of world too see" and invest in elsewhere.

.

Bloomberg News