The recent flooding of the Thai capital,Bangkok,is having a number of ripple effects.Honda Motor,for instance,is scaling back production at six U.S. plants through December.This is because the flood has caused parts shortages.
Thailand's GDP for Q3 was up 3.5%-below estimates.The Bank of Thailand has cut its growth forecast for all of 2011 to 1.5% on account of the flooding,which killed around 600 people.More than 14,000 businesses have been hampered by the disaster.
There has been criticism of the Thai government under Prime Minister Yingluck Shinawatra over the flooding.The response was too slow;indeed,there was no preparation for the disaster,the critics complain.
Honda Motor Company(HMC)
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