Showing 1 - 10 of 35
Uncharted territory and a case of déjà vu
Oped, Thitinan Pongsudhirak, Published on 09/08/2024
» Another dissolution of another election winner should feel old in Thai politics. But what happened to Move Forward Party is not just déjà vu but uncharted territory. Its dissolution fits a recurrent pattern of systematic subversion of democratic institutions in favour of autocratic preferences in disregard of the will of the majority. The Constitutional Court's breakup of Move Forward also breaks new ground that is increasingly taking centre stage in Thailand's political landscape.
Thailand's era of economic stagnation
Oped, Thitinan Pongsudhirak, Published on 05/07/2024
» After two decades of political instability and turmoil, it was a matter of time before the Thai economy would exhibit signs of distress and desperation. For decades, the Thai economy has proved resilient with an uncanny knack for bouncing back. But Teflon Thailand may have become a thing of the past. Headlines on the Thai economy have been heading south precipitously. Unless fundamental political reforms take place, Thailand will likely enter a period of low and plateaued growth with risks of grinding stagnation.
Thailand's central bank dependence
Oped, Thitinan Pongsudhirak, Published on 23/02/2024
» To proponents of central bank independence, the ongoing friction between Prime Minister and Finance Minister Srettha Thavisin and Bank of Thailand Governor Sethaput Suthiwartnarueput appears straightforward. The prime minister is putting unwarranted and unfair pressure on the central bank governor to spur the economy by loosening monetary policy and cutting interest rates. Yet, on closer scrutiny, the entrenched politicisation of central banking in Thailand may suggest otherwise. There is more than meets the eye in the politics of interest rate cuts.
Digital wallet should be implemented
Oped, Thitinan Pongsudhirak, Published on 16/02/2024
» The big debate in Thailand's current economic policy planning is whether the economy is facing a crisis or not. The government of Prime Minister Srettha Thavisin, who doubles as finance minister, has contended that there is an economic crisis in dire need of both monetary policy loosening and fiscal stimulus, particularly the 500-billion-baht digital wallet scheme. The Bank of Thailand, supported by a clique of economists apparently critical of the government's "populist" policy measures, asserts otherwise that an economic recovery is in progress without the need to lower the benchmark repurchase rate.
Thailand's semi-democracy faces risks
Oped, Thitinan Pongsudhirak, Published on 15/12/2023
» The government of Prime Minister and Finance Minister Srettha Thavisin has settled into an uneasy balance between the civilian-led majority forces that represent the Thai electorate and the royalist-conservative minority guardians of the established centres anchored around the monarchy, military, judiciary, and bureaucracy.
Thailand's semi-democracy returns
Oped, Thitinan Pongsudhirak, Published on 01/12/2023
» The appointment of Gen Prayut Chan-o-cha as privy councillor has neatly bookended Thai politics over the past decade. It coincides with the 10-year anniversary of the street demonstrations that were led by the People's Democratic Reform Committee, paving the way for Gen Prayut to stage a military coup in May 2014. While the interim was a period of hard and soft military-authoritarian rule in 2014-19 and 2019-23, the new moving balance in Thai politics is a semi-democracy of sorts under the Pheu Thai Party-led coalition government.
Tolerating populism for democracy
Oped, Thitinan Pongsudhirak, Published on 13/10/2023
» The so-called “super deal” in August that resulted in the return of Thaksin Shinawatra and the formation of the Pheu Thai Party-led coalition government under Srettha Thavisin evidently has its limitations. It appears to be rejected by sections of the conservative old guard who still wants to resort to extra-parliamentary ways and means to undermine Thailand’s delicate parliamentary democracy. Reminiscent of past protests against Mr Thaksin’s brand of populism, a new round of extra-parliamentary political movement has begun in earnest with the petition launched by 99 prominent economists, including former central bank governors, against the Srettha government’s 10,000-baht digital wallet policy.
Srettha confronts myriad of challenges
News, Thitinan Pongsudhirak, Published on 22/09/2023
» As the coalition government of Prime Minister Srettha Thavisin gets going, it faces multiple daunting challenges, from public expectations and policy deliverables to the maintenance of political stability.
The tide of history shifts in Thai politics
Oped, Thitinan Pongsudhirak, Published on 02/06/2023
» Notwithstanding the ongoing political shenanigans by appointed agencies to shape final outcomes after the May 14 poll, Thailand already will never be the same again. The Move Forward Party's (MFP) victory as the largest winning side, with 151 out of 500 parliamentary seats, is profound but not unprecedented. Together with the Pheu Thai Party's 141 MPs, these two opposition parties are unwittingly sending a message to each other and to the broader political establishment that the curve of Thai history is shifting tectonically. Failing to grasp and adjust to this evolving tide of history could marginalise Pheu Thai and challenge the establishment to its core foundations.
The fault line that polarises Thai politics
Oped, Thitinan Pongsudhirak, Published on 07/04/2023
» With all of Thailand's contesting political parties lined up behind populist policy platforms ahead of the general election on May 14, it is not readily obvious what sets them apart.