• OPINION

  Misguided myopia of asking the rich

  Oped, Thitinan Pongsudhirak, Published on 24/04/2020

  » Prime Minister Prayut Chan-o-cha's initiative to seek more cooperation and assistance from Thailand's 20 wealthiest billionaires is understandable. Thailand needs all the help it can get to handle and manage the social and economic ravages of the coronavirus (Covid-19) crisis. But making an appeal in writing from the top to the country's richest is short-sighted and misguided on many levels. It displays a government at the end of its tether and a leader who is being forced to own up to mismanaging the country for the past six years.

• OPINION

  Undue politicisation at finance and BoT

  Oped, Thitinan Pongsudhirak, Published on 03/07/2020

  » Thailand's economic growth projections continue to head south as the coronavirus crisis unfolds in the second half of the year. In its most recent forecast, the Bank of Thailand anticipates a sharp contraction of 8.1% this year, worse than the 5.3% it predicted in March. Downside macroeconomic risks are substantial as the Covid-19 pandemic could still degenerate and cause further global health and economic havoc. In this dire environment, Thailand will need steady and seasoned hands to oversee macroeconomic levers. Yet both the finance ministry portfolio and the BoT governorship now face uncertainty and potential politicisation that bode ill for effective and autonomous fiscal and monetary policies.

• OPINION

  Rail deals must have accountability

  News, Thitinan Pongsudhirak, Published on 03/05/2019

  » Prime Minister Prayut Chan-o-cha's recent participation in the second Belt and Road Forum (BRF) in Beijing was problematic on many levels. On what basis did Gen Prayut negotiate a rail deal between Thailand and China? What are the details and cost-benefit considerations of this deal? The lack of transparency and public accountability surrounding the Thailand and China rail plan is likely to pose future questions and problems for a huge infrastructure project Thailand can use, but according to whose terms its people must be the main beneficiary.

• OPINION

  The Thaksin factor in Thai politics

  Oped, Thitinan Pongsudhirak, Published on 15/03/2024

  » Thai politics in the near term will likely be dominated by the fate of the two largest vote winners from the general election in May 2023, the Move Forward (MFP) and Pheu Thai parties. While the MFP is at risk of another dissolution, the same as its predecessor Future Forward Party suffered in 2020, Pheu Thai's political future appears to hinge on Thaksin Shinawatra and his return from exile in what is believed to be a deal that follows the assumption of the premiership under Srettha Thavisin, and for Thaksin, a royal pardon and early release on parole.

• OPINION

  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.

• OPINION

  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.

• OPINION

  Thailand's policy on Myanmar stinks

  Oped, Thitinan Pongsudhirak, Published on 23/06/2023

  » The latest move to coddle and recognise Myanmar's junta government by caretaker Prime Minister Prayut Chan-o-cha's outgoing regime does not add up. Sanctioned and supported by Gen Prayut, Foreign Minister Don Pramudwinai arranged an Asean-wide ministerial meeting in Pattaya on June 18 with Myanmar's junta-appointed Foreign Minister Than Swe with unusual haste. Shrouded in controversy and desperation, both the PM's and the FM's clichéd explanations just do not wash. It begs the question of whether there are vested interests involved, above and beyond Thailand's national interest, in the outgoing government's seeming acceptance of Myanmar's military regime that took power by force on Feb 1, 2021.

• OPINION

  Next poll brings highest stakes, risks

  Oped, Thitinan Pongsudhirak, Published on 09/12/2022

  » In the face of the myriad of questions and issues that beset Thai politics in the lead-up to the general election, which must be held by May 7, the biggest facts and dilemmas are not being raised. Prime Minister Prayut Chan-o-cha is now headed to complete nine years in office, the first five of which were under a military government after he and his cohorts seized power by force in May 2014, and the last four under an elected coalition government enabled by the 2017 constitution crafted by a committee the ruling generals had set up. Moving forward, Thailand risks settling into a prolonged period of economic stagnation and political decay unless there is a qualitative change of government after the poll.

• OPINION

  Post-Covid headwinds hit the region

  Oped, Thitinan Pongsudhirak, Published on 14/10/2022

  » As the five economies in mainland Southeast Asia re-emerge from the Covid-19 pandemic, their prospects for recovery and return to growth and development appear challenged, characterised by deteriorating balance of payments, fiscal weaknesses, currency depreciations, and rising inflation amidst global monetary tightening and recession risks.

• OPINION

  Cambodia and Laos in the regional mix

  Oped, Thitinan Pongsudhirak, Published on 30/09/2022

  » As geopolitical tensions from Russian aggression in Ukraine and the ongoing United States-China rivalry intensify, Southeast Asia will be hard-pressed to maintain peace and security. Despite their relatively small size, Cambodia and Laos are two countries whose political trajectories will shape regional outcomes. While Cambodia has consolidated domestic political power with dynamic economic expansion, Laos is looking like a regional laggard facing a deep debt crisis. As Cambodia moves forward, Laos is at risk of being left behind.

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