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Byline: Parista Yuthamanop
Sep. 1--Thailand should press ahead with reforms of the corporate sector and legal framework to cope with a possible financial crisis that could come in a radically different form, according to Rob Subbaraman, senior economist for Lehman Brothers.
Thailand and other Asian economies have substantially improved in terms of external stability, led by gains in current accounts, record-high levels of foreign reserves and decreases in external debts. However, the risk of a new financial crisis cannot be ruled out, as it could come in a form that is drastically different from what was seen in Asia in 1997.
"Financial crises have a remarkable ability to mutate and develop in a manner previously unforeseen," said Mr ...