Naga Fireballs

This festival celebrates one of Thailand’s most curious natural phenomena – the Naga Fireballs of Nong Khai. Taking place during the full moon of the final day of Buddhist Lent, small balls of fire rise from the Mekong River and plunge upwards of 300 metres into the night sky. The fireballs appear as eerie blobs of red, blue, pink or green light that hang in the air for around 10 seconds.

An interesting cultural event, the natural wonder of Bang Fai Phaya Nak, “Naga Fireballs,” is held in Phon Phisai district of the northeastern province of Nong Khai along the Mekong River, at the end of the three-month Buddhist Lent, or Ok Phansa, in October around 10-16.

Local residents seem to believe that the fireballs belong to the Naga, the king of serpents. This natural wonder is linked to a legend dating back to the Buddha’s times. It is said that the Buddha went to heaven to instruct his mother in his teachings. He spent three months there until his mother attained enlightenment. On the full-moon day of the eleventh lunar month, the Buddha returned to earth and celestial beings built a golden and silver staircase for him to come down. With his loving kindness, the Buddha created a miracle by opening a view of the three worlds, namely heaven, the earth, and the underworld. All nagas living in the underworld admired the Buddha for the gratitude he showed towards his mother, so they blew out flames from the bottom of the river to celebrate.

The origin of the fireballs has been much debated. One scientific study shows that the fireballs are caused by the sun warming organic matter on the riverbed, causing it to decompose into flammable phosphine and methane gas and combust in the presence of ionised oxygen. This explains why the fireballs are of uniform color, do not emit flares, smoke, or sound, and eventually dissipate without a trace. Tracking studies have indicated that the phenomenon occurs from March to May, and September and October, when the earth is closest to the sun. Naturally, the findings have been disputed by Nong Khai residents, who see their time-honored beliefs challenged by what they view as attempts to portray them as superstitious country bumpkins.

The Naga Fireball Festival also features a bazaar, a food fair, a contest of floating and illuminated boats in worship of the Naga, long-boat races, and a light and sound show. Although there are several viewpoints for watching the natural wonder of the Naga fireballs, a great number of fireballs are usually seen in Phon Phisai district.

About 600 kilometers from Bangkok, Nong Khai is situated on the bank of the Mekong River, which stretches 4,200 kilometers through six countries, namely Cambodia, China, Laos, Myanmar, Thailand, and Vietnam. As it is not far from Vientiane, the capital of the Lao People’s Democratic Republic, Nong Khai is regarded as a gateway to Vientiane. From the province, people can cross the Mekong River to Laos over the Thai-Lao Friendship Bridge. The phenomenon of Naga fireballs can be seen from both the Thai and Lao sides.

The following video from Youtube was recorded on October 14, 2008.

Yi Peng Lantern Festival, Chiang Mai

Yee Peng Lanna festival or Loy Kratong festival is an ancient and traditional festival which has been continued since the past.  It is usually celebrated on the first full moon of November.

In a past, according to sermons story told by abbots, of the last earthly existence of the Lord Buddha. The Lanna people celebrate this holy day by decorating temples or Viharns with banana tree and sugar cane.  The main entrance of the Temple is also decorated with candle, moonshines. The people launch fire-kites, fire crackers and float offerings along the canals or rivers.

Yi Peng Lanna festival is also a kind of a Buddhist ceremony and Lanna people believed that it is an opporutunity for them to make merit, listen to sermons, and to pay respect to the Buddha.

The promise of ASEAN regional economy

ASEAN economic indicators

_{source:  http://www.aseansec.org/19230.htm}

To see the above table, please use your browser's zoom in function.  I have organized the data from largest population size to smallest because I believe that second to a country's economic policy, it is population size which is an important key to assessing a country's economic potential.

ASEAN has matured surprising well over the past 10 years or so, considering the skepticism of many in the international community.  President Obama's signal to strengthen ties with ASEAN is a clear indication of this. Below are two sources of information (via google, of course) I found interesting whose words I could quote rather than write a whole blog about the promise of ASEAN's regional economy myself.

From mysinchew.com's "Getting Ready for an Integrated ASEAN Economy":

"Asean has a total population of 582 million people, nearly half the size of China. Market size is not only based on Asean but also the Asian region as a whole as Asean is connected to every country through its integration. Asean has a combined GDP of US$1.5 trillion and a total trade of $1.7 trillion with the world market. Of that 27 per cent of trade came from six Asean countries—Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. Last year, Asean attracted $60 billion foreign direct investment."

and from The Heritage Foundation's policy paper:

"ASEAN countries have a combined population of more than 500 million people--larger than the population of the European Union. Their combined gross domestic product (GDP) exceeds $1 trillion, which is the 11th largest in the world, ahead of Russia and India."
...

"The measure of ASEAN's integration is not only intraregional trade and investment flows, but also its attractiveness as an investment destination. From the 1992 launch of the ASEAN Free Trade Area (AFTA) to the signing of its Economic Community Blueprint in November 2007, achieving economy of scale in ASEAN has always meant attracting greater levels of foreign investment. Yet even as it has sought ever new ways to stay competitive as a region, it has lagged behind market-leader China-- particularly since the 1997 Asian financial crisis. (A few years prior to the crisis, ASEAN actually led China as an investment destination.)"

Towards the end of the above quoted policy paper is a section titled "Why ASEAN's Economic Integration Matters to America", which I will not copy-paste here since it deserves to be read in full at the Heritages website:

http://www.heritage.org/Research/asiaandthepacific/bg2101.cfm

Visiting Khao Yai?

This is a Slideshare presentation I made about places and things you can visit and do when you are in the Pak Chong, Khao Yai area.

Visiting Khao Yai?

View more presentations from Netnapit Tasakorn.

Don't let Saxena die

Second part of Khun Thanong's report, published on The Nation, November 3, 2009.

Deliberate leak of bank documents triggered BBC and Thai economy's collapse but will financier spill the beans on dodgy deals in '96? 

In his second part of the series on the Bangkok Bank of Commerce scandal, Thanong Khanthong asks who ordered the closure of the bank in 1996 that triggered off the 1997 financial crisis.

In his fight against being extradited from Canada over the past 13 years, Rakesh argued that if he were to be sent back to Bangkok, his life could be at risk. He also said prison conditions in Thailand were horrible - compared, of course, to his luxury home where he was stuck under house arrest in Vancouver.

Indeed Rakesh Saxena's life may be in danger. But Korbsak Sabhavasu, the deputy prime minister, wrote in his web blog that Rakesh could not die as that would throw the political mess out of control.

Saxena lost the dramatic extradition case when the Supreme Court of Canada rejected any further appeal and sent him back to Bangkok last Friday. It gave no reason for rejecting his appeal.

However, Saxena has a full list of the politicians involved in the Bangkok Bank of Commerce scandal in 1996. Before leaving Vancouver, he issued a threat that he would tell all. Krirkkiat Jalichandra, the former president of BBC, also kept all documents to him?self.

If Saxena were to strike a pre-trial bargain plea with the Abhisit government by implicating politicians benefiting from BBC, he could compromise his safety in spite of the authorities' full assurance to protect him.

Saxena is now detained under 24-hour surveillance in the Bangkok Remand Prison hospital. His food is carefully screened. The Abhisit government has a full obligation to provide full and fair justice within the law to Saxena because it has won the extradition case. If the Saxena case is not handled with due process, chances are Thailand would have a difficult time winning extradition cases with other countries in the future.

Justice Minister Phiraphand Salirathawiphak said yesterday he had instructed the director general of the Corrections Department and the head of the Bangkok Remand Prison to look after Saxena, whose health is fragile. Saxena, 57, suffered minor paralysis on his left side after a stroke in March.

"I would like to stress that Rakesh is not receiving any privileges more than other inmates," Phiraphand said. "Since he is sick, he needs to be looked after. We have the same standard practice as applied to other inmates. Now Rakesh is being held in the hospital within the compound of the prison, with a surrounding wall and tight security. He is not getting any privileges."

The Democrat government has a lot of incentives to provide top security and safety to Saxena, because he could provide a link to politicians involved in the BBC scandal. Many of them are in the coalition government. Having Saxena in their control could help the Democrats hold their coalition partners in check. The Democrats want the coalition to survive till at least June 2010.

The politicians who benefited from the BBC are now not having a good night's sleep. They definitely do not want Saxena to open his mouth.

The man at the centre of the BBC affair was Ekachai Athikomnantha, then the bank's senior executive vice president.

He was politically connected to Sanan Kachornprasat, then the Democrat whip, and the PM Banharn Silapa-archa. Through Sanan, Saxena was introduced to the bank as Saxena impressed Sanan and others with his financial prowess. He practiced swaps, futures and options well before Thai bankers knew about these strange financial products. Thai financial laws did not cover these products, which allowed Saxena to test the law to the limit.

Although he was centrally involved in BBC, the name Ekachai quickly disappeared from public view after the bank collapsed. Sanan also quickly stepped out of the shadow of BBC before the financial scandal broke out.

Banking authorities sent Krirkkiat Jalichandra to be BBC president and rescue the bank. BBC was in big trouble with huge bad loans on its books. But the task of salvaging the bank was formidable. When Saxena came aboard as the bank's financial adviser, it was agreed the bank would shift away from normal practice to high finance - to try to strike gold on the stock market. If the bank could make quick profits, it would be able to clear all its bad debts in a swoop.

Saxena's unique position as financial adviser within BBC would not have been possible without strong political backup.

BBC tested the first drama script with a takeover bid from Song Watcharasriroj, alias Sia Song. More takeovers and acrobatic financial dealings would follow while money from the bank was drained overseas, first through Lebuan and the British Virgins Island and other financial centres of the globe. At the same time, the politicians, who tolerated this practice, got benefits from a series of questionable loans.

But this high finance ran against the tide. The stock market slumped by 40 per cent in 1996, as the real estate bubble was set to go bust. If the stock market was rally, Krirkkiat and Saxena would have emerged as heroes.

Vijit Supinit, then governor of the Bank of Thailand, kept the bank under his radar. He wanted a soft approach. The financial supervisors had asked him to take harsh action against BBC, but Vijit sat on it. He was doing everything to save BBC through a bail-out. He brought in the Financial Institutions and Development Fund and the Government Savings Bank to rescue BBC with a Bt60 billion capital increase. But it was too little.

Vijit had a good relationship with Krirkkiat. Vijit realised that closing down BBC would bring about a run of the financial system. But the politicians were all over his head.

At the time, the economy was severely overheated. The current account deficit hit 8 per cent of gross domestic product. The inflow from the Bangkok International Banking Fund (BIBF) made things worse as cheap money from offshore moved here enjoy the interest rate differential.

Later on, many questioned the sustainability of the Bank of Thailand's fixed exchange rate regime. The situation was aggravated by political conflict between Banharn Silapa-archa, the PM, and the Group of 16, who were trying to consolidate their own power. They included Suchart Tancharoen, Newin Chidchob, Varathep Ratanakorn, Sora-at Klinpathum, Thanee Yisarn, Wittaya and Sonthaya Khunplume. Their political ambition was boundless.

Suchart Tancharoen was deputy Interior minister in control of the police, while Newin Chidchob was deputy finance minister.

A minister belonging to the government leaked confidential bank documents to Suthep Thaugsuban, in the Democrat Party, then in opposition. The ulterior motive was to destroy the Group of 16. If anything were to happen to the bank, BBC could be shut down.

Suthep took the bait. Based on the documents, he launched a no-confidence debate in Parliament on May 9, 1996, and exposed how the Group of 16 benefited from a loan scandal at the bank. The world was shocked. Many Thais rushed to withdraw deposits from the bank.

On an order from Prime Minister Banharn, Surakiart Sathirathai told Vijit to close the bank. The implications were: 1/ The Group of 16 would be destroyed; 2/ The bank scandal would be covered up; 3/ blame could be shifted to Krirkkiat, Saxena, Vijit, and Surakiart.

Taxpayers had to foot initial losses at BBC of Bt200 billion. But the implications were much larger. The scandal triggered a loss confidence in the Thai financial system and the baht exchange rate, which subsequently turned into a loss of Bt4 trillion for Thailand as the economy collapsed like a house of cards in 1997-1998.