Showing 1 - 10 of 69
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.
No losers, two winners in Taiwan poll
Oped, Thitinan Pongsudhirak, Published on 26/01/2024
» Among elections in Asia this year, Taiwan's is no less consequential, not just for the island country's political future but also for the United States-China rivalry and broader geopolitics. In the event, the results from the Jan 13 general election in Taiwan ended up with no major losers among the main contenders and two big wins for democracy in Asia and the geopolitical status quo.
The continuing crisis of Thai democracy
Oped, Thitinan Pongsudhirak, Published on 11/08/2023
» The prolonged volatility and instability in Thai politics attest to a continuing crisis of democracy since the military coup in September 2006. It is characterised by the nature, direction and duration of government after an election. Unless the poll-topping political party is backed by the conservative military-authoritarian regime, it is either not allowed to take power or gets overthrown while in office before completing its term. This crisis of Thai democracy has now persisted since the May 14 poll, as the formation of the next government remains stuck in a stalemate.
Our custodial democracy on display
Oped, Thitinan Pongsudhirak, Published on 21/07/2023
» After a watershed election and a clear message from voters for change, the integrity of Thailand's democratic system has come into question. It turns out that election results are only necessary but not sufficient to form a government and run this country.
Only the young can change Thailand
Oped, Thitinan Pongsudhirak, Published on 09/06/2023
» If the past two decades of Thai politics has been about populism and colour-coded conflicts between the yellow-shirted pro-establishment forces against the red shirts aligned with ousted former prime minister Thaksin Shinawatra, the foreseeable future will likely be about structural reforms and a generational clash between the age-old established centres of power against young Thais who are rising up to determine their country's future directions. It is unsurprising that only younger Thais can change Thailand because their old compatriots have too much at stake and too many vested interests in the entrenched and deeply embedded status quo.
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.
Stakes and meanings of the 2023 poll
Oped, Thitinan Pongsudhirak, Published on 17/03/2023
» For all intents and purposes, Prime Minister Prayut Chan-o-cha will not call an early election and will practically use up the full four-year term before dissolving the Lower House. Calling an early poll is often a sign of confidence and stability while putting it off to the last minute can be seen as timid and desperate. Nevertheless, the good news is that Thailand will have an election soon. The broader stakes and meanings of the upcoming poll are as follows.
The truth about Thai money politics
Oped, Thitinan Pongsudhirak, Published on 13/01/2023
» As the election looms in Thailand, money politics returns with a vengeance.
Keeping democratic institutions weak
Oped, Thitinan Pongsudhirak, Published on 22/07/2022
» The worst thing one can do in Thai politics is to run for office and win by a landslide. When this happens, the knives will come out and the massive election winner will be overthrown before long -- one way or another -- because the real source of power in Thailand is unelected. Such was the fate of Thaksin Shinawatra when he spearheaded the Thai Rak Thai Party to win two landslide poll victories in January 2001 and February 2005, first a near majority and later a thumping 75% of the lower house of parliament.