absolutelyBangkok archive · Business & Economics
Originally published July 13, 2011
With the heat of the elections over and Pheu Thai/Yingluck Shinawatra romping home with comfortable numbers albeit after considering the coalition parties, Thailand should legitimately be looking forward to a stable government and an improved economic performance.
Pheu Thai’s political agenda will essentially include accommodating the aspirations of its coalition partners so that the house remains strong — at least technically for now. The young Yingluck will also have to contend with Thaksin’s supporters who would be keen to claim their share of the pie. There are some whispers of granting amnesty to Thaksin so that he can get back to Thailand. The new Prime Minister designate Yingluck Shinawatra and her party will tread with extreme caution on this and it could be several months, if not years, before Thaksin can set foot on Thai soil as a free individual. Though from the same mould, the new Prime Minister can cash in on her business acumen, youth, the gender factor and novelty. Yingluck Shinawatra knows only too well that the ‘yellow shirt’ supporters of the democrats need only the slightest pretext to take to the streets and spoil the party. Her adversaries are powerful and enjoy the backing of some of the highest offices in the kingdom.
On the other hand, Pheu Thai is more likely to strengthen its numbers in the house. The Bhumjaithai party with over 30 seats appears to be the most convenient target given the various allegations that Bhumjaithai party is facing and a possible dissolution itself. If Bhumjaithai is indeed dissolved, that would strengthen Pheu Thai putting it on the road toward a full term. Yingluck has played her cards very well with the rural poor and her Kentucky education should also come in handy in running the nation more through conciliation with the warring forces than through conflicts.
While these political machinations may take a few weeks before the new government can become fully functional, there are more pressing issues on the ground that needs to be addressed head on. Inflation should be reigned in so that the rural poor who have supported Pheu Thai can enjoy some much needed relief. The new government should also be looking at urgent measures to improve Thailand’s exports and tourism. Measures to perk up tourist arrivals and soaps to the hospitality industry will contribute in a large measure to the nation’s economy, while ensuring a more enjoyable Thailand holiday experience for all the visitors.
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