Politics

Stalemate is Better than Concession

Posted on 2023-08-31 by Chakers in Thailand.

The turmoil in Bangkok's National Assembly is pretty common knowledge. The people elected one party, the Move Forward Party, and yet again the elite and Yellow Shirt leaders who are largely unelected have opposed the MFP leader Limjaroenrat, otherwise known rather unfortunately as Pita, bid to be Prime Minister. Yet another smash and grab by the hi-so and 'top business in the pocket' ministers. A shameful disregard for due process. No I'm not mincing words the minority Yellow Phue Thai tried last time and lost to Yingluck so persuaded the Generals to impose a Junta.

So now there is a stalemate and no PM and no Moving Foward. Nobody should be under any illusion, PT have grabbed Government but cannot form a Government and the economy is suffering. Right now despite having been voted out MFP are going to court to see if Pita can be re-instated but that petition is being objected to by PT.

It is farcical. Thailand is up to its' neck in overseas borrowing and had a investment target of 500 billion to stabilise the economy. There is almost no investement in EV, medicine, or robotics, which were the three main targets for development. They managed only 325 billion last year and at this rate the debt will need to be paid by farmers and rural Thailand. They do not have the money for the subsidy and overseas investment has ground to a halt.

Three months now and the Chamber of Commerce is rightly concerned. To quote the Chairman of the Thai Chamber of Commerce "The longer they spend, the more adverse the effect on the Thai economic recovery, as it would cut confidence among investors and weigh on new foreign investment."

And the Governments response to this? The unelected self proclaimed interim Business Minister Jurin Laksanawisit (or to put it more accurately, the never left office minister) said they need to concentrate on promoting Thailand as a solid place to invest to overseas business.

No Minister - you need to elect the PM the people voted for.

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