Interdependent Causes of the Tom Yum Kung Crisis: A Paticcasamuppāda Perspective

Kanix  Bukkavesa; Dinorah  Frutos-Bencze; Pairor Makcharoen

doi:10.5281/zenodo.15766040

Authors

Kanix Bukkavesa Business Administration Division, Mahidol University International College, Thailand https://orcid.org/0000-0001-9659-5536
Dinorah Frutos-Bencze International Business, Strategy Economics and Business Department, Saint Anselm College, USA https://orcid.org/0000-0001-8584-6790
Pairor Makcharoen College of Religious Studies, Mahidol University, Thailand https://orcid.org/0000-0002-4201-3657

DOI:

https://doi.org/10.5281/zenodo.15766040

Keywords:

Tom Yum Kung Crisis, Paticcasamuppāda, Economic Vulnerability, Financial Liberalization, Buddhist Economics

Abstract

This study explores the application of the Buddhist principle of Paticcasamuppāda (Dependent Origination) in analyzing the 1997 Asian Financial Crisis, commonly known as the "Tom Yum Kung" crisis. This crisis, marked by financial liberalization, speculative investments, and inadequate risk management, demonstrated the systemic vulnerabilities within Thailand’s economic structure. Through the lens of Paticcasamuppāda, this crisis can be understood as a chain reaction where economic decisions and external pressures accumulated into a major collapse. Key factors include ignorance (Avijjā) of financial risks, misguided policy actions (Saṅkhāra), and the persistence of a fragile financial system (Bhava). By adopting this Buddhist perspective, the study highlights the importance of mindful economic planning and sustainable governance. In addition, the study advocates for integrating awareness of interdependence and impermanence into economic strategies, fostering resilience in a globalized financial environment.

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