Part 3/9:
The facade of prosperity crumbled dramatically when, in July 1997, the Thai government declared it had run out of foreign reserves, forcing the Thai baht to float freely. By the year's end, the baht had depreciated significantly, leading to devastating losses for foreign investors who saw their assets halve almost overnight. Servais highlights the profound personal toll this crisis took on him: he lost not only his job but also faced the heartbreaking death of his sister, which compounded the overall emotional strain during an economically disastrous time.