Thailand’s State of Emergency Is Over, But the Crisis Endures

TIME

The barricades have gone, so have the rallies, and grenades aren’t being thrown into crowds of protestors for the time being, but the nightmare is not quite over for Yingluck Shinawatra.

On Wednesday, Thailand’s embattled prime minister lifted the state of emergency that since Jan. 22 had governed large swaths of Bangkok, the world’s most visited city, and nearby provinces, in the face of huge anti-government protests.

“The cabinet lifted the state of emergency to instill more confidence in the private sector and tourist industry,” Yingluck told reporters.

The prolonged political conflict in the “Land of Smiles” has already cost the economy more than $3 billion, and another six months of similar strife could result in a recession for 2014. Tourism arrivals were down 4.1% in January and February compared to the same vital high-season period last year.

“The protests have been so destructive,” Paul Chambers, research director of political…

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