Thai King Bhumibhol Adulyadej’s death was long anticipated, but it still came as a profound shock to Thailand. When it was announced, vast crowds gathered in towns and cities to weep and pay homage to their monarch, who had reigned for seven decades.
Thailand’s stock market has fluctuated and the country has entered a period of uncertainty. Most Thais have never known any other king, and Bhumibhol inspired great devotion during a time of enormous political and economic change. During his reign, Thailand was transformed from a poor country into Southeast Asia’s second-largest economy.
For more of my analysis of what happens after King Bhumibol’s reign, see my new piece for Project Syndicate.