Bangkok's 'Ghost Tower' remains as a spectre of the Asian Financial Crisis

Bangkok's 'Ghost Tower' remains as a spectre of the Asian Financial Crisis

Architects of a luxurious skyscraper in Bangkok may well not have foreseen their creation being dubbed the Ghost Tower, after the 1997 Asian Financial Crisis stymied construction of the upscale apartment block.

The abandoned 49-storey building, known as Sathorn Unique, now attracts visitors who clamber on its graffiti-covered skeleton. The climbers are rewarded by views of the Thai capital's skyline and ferryboats passing on the nearby Chao Phraya River.

The skeletal tower wasn't the only casualty of the financial turmoil in the region back then. Asian and global emerging market crises began in 1997 and set off serial currency collapses worldwide.

In the Bangkok of today, a military-led government that seized power last May has struggled to revive growth in Southeast Asia's second-largest economy as exports and domestic demand have remained sluggish.

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